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The Latest Breaking News from HSBC

Assets plunge at Phoenix but CEO welcomes SVB rescue

SAVINGS giant Phoenix saw its assets plunge by £46 billion this year due to market turmoil that was only increased by the higher interest rates that followed the Liz Truss mini budget in September.

Evening Standard

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

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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

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.

Wales Online

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HSBC will buy UK subsidiary of collapsed Silicon Valley Bank

The UK Treasury and the Bank of England have “facilitated the sale″ of Silicon Valley Bank UK to HSBC, ensuring the security of 6.7 billion pounds ($8.1 billion) of deposits

The Independent UK

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.

Axios

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

Birmingham Post

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

Insider UK

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

Evening Standard

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

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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

Daily Mirror

Cruel woman stole £2,000 from her grandma after she was diagnosed with dementia

Gemma Jones stole £2,746 from her grandmother Gwynfa Jones days after the elderly woman moved into a care home. She spent the money on clothing, household items, rent, and takeaways, a court heard

Wales Online

Cruel woman stole £2,000 from her own grandmother after she was diagnosed with dementia

Gemma Jones, 31, of Bridgend, used the money she defrauded from her grandmother Gwynfa Jones to buy clothes, household items, and fast food

Daily Mirror

Fraud warning issued to Santander, NatWest, Barclays and other banking customers

With the "abundance" of phishing scams currently in circulation looking to steal bank details and other personal information, the number of victims will likely increase

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Nottingham Post

Santander, Natwest, Barclays, HSBC and Halifax fraud alert issued

Five banks were highlighted

Birmingham Post

Our 2023 Welsh export champions with global reach

Here we feature firms across Wales, from tech to food and drink, that are driving impressive export growth

USA Today Sports Media Group

Watch: Sisters Nelly Korda, Jessica Korda talk about their sporting idols, the role mom plays and why they chose golf in HSBC interview

Get to know a little bit more about the Korda sisters.

USA Today Sports Media Group

Jin Young Ko calls victory over Nelly Korda in Singapore the most important of her career; Danielle Kang buys beer to thank HSBC grounds crew and volunteers

When it was over, she doubled over on the final green as the tears poured out.

USA Today Sports Media Group

Danielle Kang thanks Scotty Cameron for her ‘DK Special’ putter as she races to top in Singapore after 63 at HSBC

“I think it took days for him to make these molds."

Evening Standard

Why must big City firms always fall for scams like FTX?

THERE must be some very awkward meetings taking place across the City and Wall Street right now. The sort of encounters where people bang tables and demand explanations, where they look at PowerPoints and Excels, and gasp.

The Guardian - UK

Savings: Britons can switch to get up to 7% after interest rate rises

Loyal bank customers are not necessarily rewarded, so shop around for a better-paying account

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