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The Latest Breaking News on Fears of City jobs axe grow as IG cuts 10% of staff

Silicon Valley Bank Panic Crashes 10 Bank Stocks — Is Yours OK?

The halt of trading shares of Silicon Valley Bank is setting off a cascade of selling throughout the financial sector.

Investors Business Daily

Silicon Valley Bank collapses in second-biggest US bank failure ever

Largest bank collapse in 15 years, since global financial crisis

The Independent UK

SVB cash crunch highlights $620 billion hole in banks’ balance sheets

The spike in interest rates has been devastating for the value of their securities portfolios, meaning many carry around billions in unrealized losses that could pose a problem if funding dries up.

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

Silicon Valley Bank collapses and enters receivership after tech firms pull funds

Silicon Valley Bank has been closed by California regulators after tech firms scrambled to withdraw funds from the business.

Evening Standard

U.S. government takes control of Silicon Valley Bank

This is the largest bank failure since Washington Mutual in 2008.

Axios

Silicon Valley Bank’s parent is reportedly struggling to pull off a fire sale after its stock blew up and it failed to raise capital

“It doesn’t smell good right now, and there’s a lot of panic,” a venture investor who spoke with dozens of SVB clients told Fortune Thursday.

Fortune

Dow Jones Holds Above 32,000 As Index Bounce Fades; Financials Rocked Again As Regulators Shut Down SVB Financial

The Dow Jones climbed off lows Friday, but sellers regained control amid more broad-based selling in the financial sector.

Investors Business Daily

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Why regulators have a banking crisis, not a crypto one

SVB is 20 times bigger than Silvergate. Its collapse points to a much bigger problem than crypto.

Fortune

Silicon Valley's burning bank

The bank's failure would be the biggest since Washington Mutual.

Axios

Silicon Valley Bank shares halted as tech firms scramble to withdraw funds

Silicon Valley Bank has been closed by California regulators after tech firms scrambled to withdraw funds from the business.

Evening Standard

SVB Financial Fails, Silicon Valley Bank Closed; Many Bank Stocks Still Reeling

The FDIC said SVB Financial has failed, with Silicon Valley Bank closed by regulators. Bank stocks are falling again Friday, but off lows.

Investors Business Daily

Dow Jones Slides On Strong Jobs Report; Silicon Valley Bank Crashes 66% On Bank Run Fears

The Dow Jones dropped Friday on a strong jobs report. Silicon Valley Bank crashed 66% on growing fears of a bank run.

Investors Business Daily

Silicon Valley Bank fails in largest bank collapse since 2008 crisis

US regulators seize SVB’s assets after a run on the bank, as global institutions monitor situation closely

The Guardian - UK

VCs describe a big mess as Silicon Valley Bank’s troubles spark panic

Founders are pulling cash from Silicon Valley Bank as fear of a bank run has spread.

Fortune

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news in one place.

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Axios

What happened to Silicon Valley Bank?

Behind the remarkable reversal of fortune for the startup world's bank of choice.

Evening Standard

Playing by stricter rules is keeping London stronger

City Comment: The City is a club with strict entry requirements -- quite rightly

Radio France Internationale

French, German banks take a pasting on solvency fears at US lender

The value of shares in France's major banks sank on Friday after trouble at a regional US lender sparked a Wall Street rout on the sector in the United States. Deutsche Bank shares were down nearly 10 percent at the opening in Frankfurt.

Fortune

Bill Ackman thinks the government should consider SVB bailout

The founder of Pershing Square Capital Management said the collapse of Silicon Valley Bank "could destroy a long-term driver of the economy."

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