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The Latest Breaking News from Silicon Valley Bank

Silicon Valley Bank collapse ‘could force central banks to stop interest rate rises’

Analysts say US Federal Reserve will probably reject further increase in borrowing costs next week

The Guardian - UK

US, UK Try to Stem Fallout from Silicon Valley Bank Collapse

Governments in the UK and US took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down. The UK Treasury and the Bank of England announced early Monday that they had facilitated the sale of Silicon…

Asharq Al-Awsat

Biden will address the nation about the collapse of Silicon Valley Bank

While the Biden administration has no intentions of bailing out the bank, it has introduced emergency measures to protect the US economy and give bank clients access to their funds

The Independent UK

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US regulators step in to shore up banking sector in wake of SVB's collapse

The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation have unveiled a plan meant to stem any contagion from Silicon Valley Bank's (SVB) failure on Friday. The Federal Reserve will provide an emergency lending facility that will ensure all of the bank's depositors are repaid in full. Elsewhere, the…

France 24

France says no risk of contagion as governments handle SVB collapse fallout

The bankruptcies of US banks Silicon Valley Bank (SVB) and Signature do not pose a danger to French financial institutions, Finance Minister Bruno Le Maire said Monday as authorities in the US and UK took extraordinary steps to stop a potential banking crisis.

France 24

FTSE 100 suffers sharp fall as HSBC buys Silicon Valley Bank UK for £1

FTSE 100’s top tier fell nearly 2% in morning trading on Monday

The Independent UK

THG and musicMagpie move to reassure investors as Silicon Valley Bank's UK arm is sold to HSBC

Chancellor Jeremy Hunt has confirmed that all customer deposits have been protected under the deal, and that no taxpayer cash was involved

Birmingham Post

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Silicon Valley pulls back from bank failure abyss

The feds will rescue the failed bank's depositors, but the tech industry will still take some blows.

Axios

UK arm of collapsed Silicon Valley Bank bought by HSBC

THE UK arm of collapsed US lender Silicon Valley Bank has been bought by HSBC after the Government and Bank of England stepped in to…

The National (Scotland)

Not just Silicon Valley: SVB’s collapse spreads globally

It's not just U.S. officials scrambling to understand the repercussions of Silicon Valley Bank's collapse.

Fortune

The collapse of Silicon Valley Bank reveals cracks in a system that leans on government bonds

Unlike the debacle surrounding the collapse of Sam Bankman-Fried's crypto kingdom FTX late last year, the sudden demise of Silicon Valley Bank last weekend has its origins at the other end of the financial spectrum, explains Ian Verrender.

ABC News

Naked Wines, Trustpilot among UK-listed firms exposed to Silicon Valley Bank

Naked Wines and Trustpilot are among the biggest UK-listed firms with a material exposure to Silicon Valley Bank (SVB), it was revealed today, as businesses rushed to reassure shareholders they had enough cash to survive after the bank’s collapse on Friday.

Evening Standard

HSBC buys UK arm of Silicon Valley Bank after collapse – latest updates

Some 200 UK tech companies had been put at risk by collapse

The Independent UK

HSBC to buy Silicon Valley Bank UK after weekend of crisis talks

Chancellor Jeremy Hunt said deposits will be protected

The Independent UK

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Wales Online

HSBC buys UK arm of troubled Silicon Valley Bank with no cost to taxpayer

Silicon Valley Bank's (SVB) possible collapse had posed a serious threat to the tech sector which had deposited large amounts of cash with the bank. HSBC has now bought the UK arm of the struggling bank.

Axios

Silicon Valley Bank's U.K. arm sold to HSBC for £1

Despite its name, the bank best known for serving startups as its customers is a global business, with outposts outside of the U.S.

Birmingham Post

Silicon Valley Bank's UK arm is sold to HSBC to protect customers

Government and Bank of England helped facilitate the deal amid fears that the tech sector would be devastated by the bank's failure

The Independent UK

Asian shares mixed despite jitters after US bank failure

Asian shares are trading mixed, shaken by a Wall Street tumble that set off worries the biggest United States bank failure in nearly 15 years might have ripple effects around the world

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Insider UK

Silicon Valley Bank UK arm is sold to HSBC with all deposits 'safe and secure'

Chancellor says SVBUK customers should 'feel reassured by the strength, safety and security' of HSBC

The Independent UK

AP News Digest 3:30 a.m.

Here are the AP’s latest coverage plans, top stories and promotable content. All times EST. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

Evening Standard

FTSE 100 Live: HSBC acquires Silicon Valley Bank UK, lowest FTSE close of 2023

Banking giant HSBC has stepped in to rescue the UK operations of tech sector lender Silicon Valley Bank.

Evening Standard

HSBC buys UK arm of Silicon Valley Bank

Deal is huge relief to UK tech sector, as many as 30% of whom had accounts with SVB

Daily Mirror

Jeremy Hunt announces sale of Silicon Valley Bank to HSBC in rescue package

Over the weekend the Chancellor said there was a 'serious risk' to the UK's technology and life sciences sectors as a result of the collapse of Silicon Valley Bank.

The Guardian - UK

HSBC to buy Silicon Valley Bank UK for £1 in rescue deal

Takeover arranged by government is likely to save British startups from big losses after US bank’s collapse

The Independent UK

HSBC buys UK arm of Silicon Valley Bank after collapse – latest

Some 200 UK tech companies had been put at risk by collapse

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