Get all your news in one place.

100’s of premium titles.
One app.

Start reading

Get all your news in one place.

100’s of premium titles. One news app.

Start reading

The Latest Breaking News from SVB

US senators grill banking regulators in first Silicon Valley Bank hearing

Lawmakers aim to determine how Silicon Valley Bank and Signature Bank failed, sparking fears of financial crisis

The Guardian - US

Here's how First Citizens should approach the SVB acquisition, according to experts

Communicating quickly to try and retain the best clients is a pivotal move.

Fortune

"Badwill" hunting: The difference between the bank failures of 2008 and today

The difference between the bank failures of 2008 and today.

Axios

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

Silicon Valley Bank collapse was fastest since Barings in 1995, Bank of England governor says

Andrew Bailey says economy is in ‘period of very heightened tension and alertness’

The Independent UK

Bank of England ‘vigilant’ in wake of Silicon Valley Bank collapse, says Bailey

Governor tells MPs market turmoil has ‘tested’ banking sector for signs of weaknesses but denies fresh crisis is looming

The Guardian - UK

Watch as Bank of England governor speaks to Treasury committee on SVB rescue

Watch as Bank of England governor Andrew Bailey speaks to the Treasury committee about Silicon Valley Bank (SVB) after its £1 rescue by HSBC.

The Independent UK

Commentary: How Big Tech’s predatory culture fuels failures like Silicon Valley Bank

After 20 years of what appeared to be unstoppable growth, America’s tech industry has spent the past year underperforming the rest of the economy. Product failures in new industries like virtual reality and cryptocurrency, layoffs across the board, lower stock prices, and the failure of Silicon Valley Bank create a…

Los Angeles Times

Read news from The Economist, FT, and more,
with one subscription

SVB collapse was ‘fastest since Barings’, Bank of England says, in call for vigilance – as it happened

Treasury committee holds hearing on the sudden collapse of Silicon Valley Bank this month

The Guardian - UK

Can Australia’s banks withstand the contagion stalking the global finance sector?

The seeds of a shock have been planted. The question is whether that will grow into a threat to bank stability and the broader economy

The Guardian - AU

Fed official: SVB itself was main cause of bank's failure

The nation’s top financial regulator is asserting that Silicon Valley Bank’s own management was largely to blame for the bank’s failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse

The Independent UK

News briefs

Lawmakers open to Biden’s call to claw back SVB executive pay

Tribune News Service

FDIC grants First Citizens rare credit line for SVB

First Citizens BancShares Inc.’s acquisition of Silicon Valley Bank came with an unusual provision: a $70 billion line of credit, courtesy of the Federal Deposit Insurance Corp.

Tribune News Service

As another Fed official rips the 'textbook case of mismanagement' at SVB, he's also turning the mirror on his own failures

The Fed's vice chair for supervision, Michael S. Barr, says he is “committed” to finding “any supervisory or regulatory failings” that led to SVB's collapse.

Fortune

ASX follows global gains; restaurants, cafes and bars most at risk from consumer 'recession' — as it happened

The local share market rises strongly. Retail sales slow, raising questions about the Reserve Bank's next move. Here's how it unfolded on the ABC News markets blog.

ABC News

Get all your
news in one place.

100’s of premium titles.
One news app.

Kiplinger

Stock Market Today: Stocks Finish Mostly Higher After First Citizens Buys SVB Assets

The Nasdaq closed lower, though, as mega-cap tech stocks declined.

Fortune

Banking crisis has ‘definitely’ tipped the U.S. closer to recession, warns top Fed official who was at the center of the 2008 bailout

“Not all of these stresses are behind us," warns Minneapolis Fed President Neel Kashkari, the former administrator of the Troubled Asset Relief Program.

Axios

Top Fed official: Silicon Valley Bank was "textbook case of mismanagement"

A congressional hearing on Silicon Valley Bank’s failure will begin on Tuesday.

Fortune

SVB staff claim they got up to 50% of their salaries in company equity —now some may have lost millions in its collapse

Staff had to be reminded to eat as they worked tirelessly to support their clients, an SVB employee has said.

Get all your
news in one place.

100’s of premium titles.
One news app.

Tribune News Service

Lawmakers open to Biden’s call to claw back SVB executive pay

WASHINGTON — President Joe Biden’s call for legislation that would allow regulators to claw back executive bonuses and stock sale proceeds in the lead up to the Silicon Valley Bank collapse has found a receptive audience on Capitol Hill.

Roll Call

Fed chair to speak to House GOP lawmakers Wednesday - Roll Call

Federal Reserve Chair Jerome H. Powell is set to visit Capitol Hill and will attend the Republican Study Committee's weekly lunch.

Caixin Global

Editorial: Lessons From the Collapse of Silicon Valley Bank

By taking every crisis suffered by others seriously, we can minimize our own crises

McClatchy Washington Bureau

Will US consumers have to bail out struggling banks?

WASHINGTON — Could taxpayers wind up bailing out wealthy customers at banks such as Silicon Valley Bank, Signature Bank and others that are struggling?

Fortune

Snap growth executive Jacob Andreou joins Greylock

The eight-year social media executive will join the venture capital firm in May and invest in early-stage consumer companies.

Roll Call

Lawmakers open to Biden’s call to claw back SVB executive pay - Roll Call

Lawmakers from both parties are open to executive compensation clawback legislation after the failure of SVB and Signature Bank.

Barchart

Stocks Set to Open Higher as SVB Deal Calms Banking Sector Fears

June S&P 500 futures (ESM23) are up +0.34%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.15% this morning as market participants welcomed the news that First Citizens BancShares had agreed to acquire Silicon Valley Bank’s deposits and loans.

1 … 5 6 7 8

People

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

Organisations

Read news from The Economist, FT, and more,
with one subscription

Topics

Places

Fourteen days free

Download the app

One app. One membership.
100+ trusted global sources.