The story so far: On March 10, banking regulators in the U.S. took control of the Silicon Valley Bank (SVB), which typically catered to start-ups, venture capitalists and tech firms, after it suffered a sudden collapse. Days earlier, the bank, headquartered in Santa Clara, California, had announced that it was facing a cash crunch, and […]
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Silicon Valley Bank ‘contagion’ may leave India unscathed The failure of the U.S.-based Silicon Valley Bank (SVB) may only hit some Indian tech startups and IT firms for now, while any broader “contagion” effects that may arise will neither reach Indian shores in a hurry nor are they likely to trigger “systemic risks”, according to […]
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File photo of Britain’s Prime Minister Rishi Sunak. Mr. Sunak on March 12, 2023, said the government is working towards safeguarding customers in the aftermath of the Silicon Valley Bank collapse. | Photo Credit: Reuters British Prime Minister Rishi Sunak said on March 12 he recognised the “anxiety” over the collapse of Silicon Valley Bank […]
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From winemakers in California to startups across the Atlantic Ocean, companies are scrambling to figure out how to manage their finances after their bank, Silicon Valley Bank, suddenly shut down on Friday. The meltdown means distress not only for businesses but also for all their workers whose paychecks may get tied up in the chaos. […]
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