The Latest Breaking News from SVBUK

THG and musicMagpie move to reassure investors as Silicon Valley Bank's UK arm is sold to HSBC

Chancellor Jeremy Hunt has confirmed that all customer deposits have been protected under the deal, and that no taxpayer cash was involved

Birmingham Post · Mar 13, 2023

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 · Mar 13, 2023

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 · Mar 13, 2023

Chancellor 'working ‘at pace’ to help UK tech firms after Silicon Valley Bank collapse

Warning that science and technology firms face 'serious risk'

Birmingham Post · Mar 12, 2023

Hunt working ‘at pace’ to help tech firms after Silicon Valley Bank collapse

Warning of 'serious risk' to tech and science firms

Insider UK · Mar 12, 2023