The Latest Breaking News on Financial Services

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.

Daily Mirror · Mar 13, 2023

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

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

The Independent UK · Mar 13, 2023

Silicon Valley Bank: FTSE 100 tumbles 2.5%; HSBC rescues SVB UK – as it happened

Silicon Valley Bank UK has been sold to HSBC, in a deal that protects depositors’ money, says Treasury and Bank of England after weekend talks

The Guardian - UK · Mar 13, 2023

US says all SVB deposits safe, creates new backstop for banks

U.S. authorities raced on Sunday to stem jitters about the health of the nation’s financial system, pledging to fully protect all depositors’ money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans.

Tribune News Service · Mar 13, 2023

Signature Bank closed by New York regulators in SVB’s wake

Signature Bank was closed by New York state financial regulators on Sunday as the fallout from last week’s implosion of SVB Financial Group’s Silicon Valley Bank spreads to other lenders.

Tribune News Service · Mar 13, 2023

Biden says those behind SVB bank ‘mess’ will be held accountable

President Joe Biden said that he ordered the Treasury Department and his economic advisers to address the failures of Silicon Valley Bank and Signature Bank, adding that those responsible will be held accountable.

Tribune News Service · Mar 13, 2023

US, UK try to stem fallout from Silicon Valley Bank collapse

US President Joe Biden says banking regulations must be bolstered amid fallout that has rocked global financial markets.

Al Jazeera · Mar 13, 2023

Markets at risk of more upheaval as banking uncertainty persists

Traders are steeling themselves for the risk of more turbulence after the biggest U.S. bank collapse since the 2008 financial crisis sent shockwaves through markets.

Tribune News Service · Mar 13, 2023

Asian shares mostly sink on jitters after US bank failure

Asian shares have mostly fallen, shaken by a Wall Street tumble that set off worries the biggest U.S. bank failure in nearly 15 years might have ripple effects around the world

The Independent UK · Mar 13, 2023

‘Positive picture’ for South West firms as confidence hits one-year high

A NatWest survey of bosses across the region reported rising output, sales and employment

Birmingham Post · Mar 13, 2023