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The Independent UK
The Independent UK
National
Stan Choe and Bobby Caina Calvan

From wine country to London, bank's failure shakes worldwide

Copyright 2023 The Associated Press. All rights reserved

It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world.

From winemakers in California to startups across the Atlantic Ocean, companies are scrambling to figure out how to manage their finances after their bank suddenly shut down Friday. The meltdown means distress not only for businesses but also for all their workers whose paychecks may get tied up in the chaos.

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