The Latest Breaking News from Silicon Valley Bank

European Union leaders gathered Friday to gauge the risk of a banking crisis developing from recent global financial turbulence and hitting the economy even harder than the energy crunch tied to Russia's war in Ukraine. The deliberations by EU government heads in Brussels follow US regulators shutting down two US…

US bank regulators closed Silicon Valley Bank (SVB) on March 10 2023, after it suffered US$42 billion (£35 billion) of deposit withdrawals in a 24-hour period. This was the largest bank failure since the 2008 global financial crisis and was not supposed to happen again.

"As long as people aren't all coming in at the same time and demanding that their deposits back, you're okay, but that's exactly what's been happening," Prof. Stephan Weiler told Fortune. "So the chances of facing those unrealized losses are going up."

Banking crises have happened before, but this may be the first one accelerated by mobile banking and social media.

New South Wales Labor leader Chris Minns says Sydney is the "most-tolled city" in the world. Does that check out?

The president has drawn up a glowing assessment of his environmental action. The CEO of Tesla says Biden has his priorities wrong.

New York (AFP) - When Barrett Hill, a farmer in the US state of Illinois, needs a loan for land or new equipment, a simple phone call is all that it takes.

The Federal Reserve is getting some unwanted help in its drive to slow the U.S. economy and defeat the worst bout of inflation in four decades: A cutback in bank lending

Two senior U.S. lawmakers are proposing bipartisan legislation to set up a new Senate-approved watchdog post at the Federal Reserve in the wake of the dramatic collapse of Silicon Valley Bank.