The Latest Breaking News from Silicon Valley Bank

Andrew Bailey says economy is in ‘period of very heightened tension and alertness’

Governor tells MPs market turmoil has ‘tested’ banking sector for signs of weaknesses but denies fresh crisis is looming

Watch as Bank of England governor Andrew Bailey speaks to the Treasury committee about Silicon Valley Bank (SVB) after its £1 rescue by HSBC.

The industry seems to be settling in to a modest expansion phase, but economic and supply chain fears still linger.

After 20 years of what appeared to be unstoppable growth, America’s tech industry has spent the past year underperforming the rest of the economy. Product failures in new industries like virtual reality and cryptocurrency, layoffs across the board, lower stock prices, and the failure of Silicon Valley Bank create a…

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Asian shares are higher as investors got some relief from worries over troubled U.S. lenders with a planned takeover of failed Silicon Valley Bank

Treasury committee holds hearing on the sudden collapse of Silicon Valley Bank this month

London’s main share index rose in morning trade, with banks once again keeping prominent slots on the leaderboard. However, much of the rally fizzled out as the day went on amid tax raids of a number of French banks, leaving the FTSE around where it started the day.