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The Latest Breaking News from Silicon Valley Bank

Class action suit filed against Silicon Valley Bank parent

A class action lawsuit is being filed against the parent company of Silicon Valley Bank, its CEO and its chief financial officer, saying that company didn’t disclose the risks that future interest rate increases would have on its business

The Independent UK

Ride-Share and Delivery Drivers Are Independent Contractors, Says Court

Plus: College says abortion art runs afoul of state law, the politics of Silicon Valley Bank's collapse, and more...

Reason

How 3 female founders scrambled to protect their startups as SVB collapsed

The collapse of Silicon Valley Bank—known for serving startups—wreaked havoc over the weekend.

Fortune

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SVB collapse eats into billionaire Charles Schwab’s fortune, with his wealth plunging more than any other American billionaire’s in 2023

The failure of Silicon Valley Bank has had a widespread impact.

Fortune

3 Hot Stocks You Don't Want to Miss out on Right Now

The Silicon Valley Bank crisis will likely deter the Fed from raising interest rates by the expected 50 basis points next week. However, since the market is expected to remain highly volatile, it could be wise to invest in fundamentally strong stocks Johnson & Johnson (JNJ), Walmart (WMT), and General…

StockNews.com

US inflation slows to 6% annual rate amid looming banking crisis

The Fed’s target of bringing inflation to 2% could see dramatic change in tumultuous aftermath of Silicon Valley Bank collapse

The Guardian - US

The Fed already had a tough inflation fight. Now, it must deal with banks collapsing

Consumer prices in February were 6% higher than a year ago, as inflation continues to ease. The data comes just days after the collapse of two regional lenders is roiling the banking system.

WEKU

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Michael Hiltzik: As Silicon Valley Bank's red flags were flying, the Fed was AWOL

On Jan. 18, William C. Martin, a short-seller and former hedge fund executive, warned his Twitter followers that they were missing something important about Silicon Valley Bank.

Los Angeles Times

Silicon Valley Bank collapse sends shockwaves across global markets

The swathes of deposit withdrawals in the US have shone a spotlight over the fragility of many mid-tier banking institutions

Evening Standard

Mark Cuban is signing the payroll check for his startup that had $3.1m in SVB

The "Shark Tank" investor said no one could have predicted the collapse of Silicon Valley Bank, but that he was determined it wouldn't kill off his affordable medication venture.

Fortune

Size matters when it comes to bank failures

Two failures in one year isn't that unusual. It's the dollar amounts that are eye-popping.

Axios

SVB is getting diced up for potential buyers

Investment banking, venture capital and more are on the block, but senior management are out the door.

Fortune

First Thing: global markets gripped by Silicon Valley Bank collapse

Bank shares slide around world amid panic caused by SVB failure as its parent company and two top executives are sued by shareholders. Plus, what’s next for Escobar’s hippos?

The Guardian - UK

Banks catering to specific niches were a disaster waiting to happen—and regulators haven't kept up with how tech is moving money

The nature of deposits and client behaviors have changed dramatically in the past decade, says a former bank examiner at the FDIC.

Fortune

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Fortune

Financial regulators are unprepared for bank runs in the age of social media

Monitoring volatility on social media platforms isn’t cumbersome or costly. Silicon Valley Bank's implosion shows regulators must change with the times.

Asharq Al-Awsat

Fears of SVB’s Collapse Having Repercussions on Arab Countries

The collapse of the California-based Silicon Valley Bank (SVB) has fueled fears among customers, depositors, and technology companies regarding the economic level in the US.

Axios

Silicon Valley Bank's fatal communications flaw

In moments of uncertainty, overt communication drives confidence.

France 24

Global banking stocks slump amid fallout from SVB collapse

Banking stocks around the world have fallen sharply following the collapse of Silicon Valley Bank and a subsequent intervention by US regulators to protect depositors. Smaller regional lenders in the US are particularly hard hit, with many requests being made to move deposits to some of the country's larger lenders.…

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news in one place.

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Fortune

Ken Griffin says SVB failure would have been 'lesson in moral hazard'

The CEO of hedge fund Citadel said that backing Silicon Valley Bank's deposits in full was a "loss of financial discipline."

WEKU

What to know about the Silicon Valley Bank collapse, takeover and fallout

President Biden urged calm as markets roiled over the collapse of Silicon Valley Bank. After the FDIC takeover, customers of the bank have full access to their deposits.

Asharq Al-Awsat

Kuwait: Limited Exposure to Collapse of SVB

The financial sector in Kuwait announced that it had registered limited exposure to the collapse of Silicon Valley Bank. The Central Bank of Kuwait (CBK) affirmed on Sunday that the exposure of Kuwaiti banks to Silicon Valley Bank (SVB), following the closure of the bank by the US authorities, was…

The Guardian - UK

US banking sector outlook downgraded, but regional bank shares surge – as it happened

Shares in First Republic, Western Allliance, PacWest and Zions are all rallying after Monday’s selloff; US inflation drops to 6%

Evening Standard

FTSE 100 Live: Meta cuts 10,000 jobs, US inflation at 6%, FTSE rebounds

Pressure on banks and other blue-chip stocks continued today following the collapse of Silicon Valley Bank.

The Guardian - UK

Tuesday briefing: How British-Somali citizens are disappearing to ‘culture rehabilitation centres’

A report published by the Observer tells the story of young people of Somali descent being held against their will to be ‘de-westernised’

AAP

Australia 'well placed' to withstand US bank shocks

Policymakers and regulators are monitoring the fallout from the collapse of Silicon Valley Bank for potential impacts on Australia.

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