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The Latest Breaking News from Silicon Valley Bank

SVB: Wall Street Legend Calls Depositor' Rescue a 'Big Mistake'

Bill Gross, dubbed 'The Bond King,' believes that the flagship measure of the emergency plan to avoid disaster after the collapse of Silicon Valley Bank is a "big mistake."

The Street

SVB Can't Find a Buyer Because of One Issue

SBV Financial Group is selling its investment banking and venture capital businesses.

The Street

Gallego slams Sinema over 2018 bank deregulation vote

Democratic Rep. Ruben Gallego is slamming independent Sen. Kyrsten Sinema for backing a bank deregulation bill he says contributed to the collapse of Silicon Valley Bank

The Independent UK

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Did deregulation lead to Silicon Valley Bank's collapse?

It was a scene straight out of the Great Depression: a major California bank locking its doors and pulling down the shades as a horde of panicky depositors demanded their money.

Los Angeles Times

Despite rescue, Seattle startups and banks face SVB blowback

Seventy-two hours after the stunning failure of Silicon Valley Bank, federal action means Seattle-area tech and wine industry companies can have access to millions of dollars frozen in SVB accounts.

Tribune News Service

Federal Reserve faces dual test of high inflation, bank instability

The US Federal Reserve faces a tricky balancing act, as it tries to navigate high inflation and instability in the banking sector. Alexander Yokum, of CFRA Research, says the collapse of Silicon Valley Bank and Signature Bank could affect the Fed's next interest rate decision, despite a 6 percent jump…

France 24

Elizabeth Warren is among the furious politicians demanding SVB execs return their salaries, bonuses, and $84 million in stock sale profits

Sen. Elizabeth Warren says SVB execs should give back their salaries for “facilitating a near-economic disaster.”

Fortune

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ASX recovers as fears of rapid US rate hikes and bank crisis subside

After three days of losses, the local share market is following a rebound on Wall Street as concerns of a banking crisis eased, while the Australian Energy Regulator has revealed power prices will rise by around 20 per cent in several states.

ABC News

New Silicon Valley Bank CEO Asks Customers to Come Back

Silicon Valley Bank is hoping to retain some customers with pleas from its CEO.

The Street

I had all of my capital held up in Silicon Valley Bank as it collapsed. It showed me that the grittiest entrepreneurs will survive the VC winter

The last five years favored the best-connected startup founders. This new moment will favor the grittiest ones.

Fortune

The 5 Best Stocks to Buy and Watch in 2023

Recent rhetoric from the Federal Reserve, the collapse of the Silicon Valley Bank, and strong economic data have now resulted in an extremely volatile market backdrop. Against this, adding fundamentally sound stocks Bristol-Myers Squibb (BMY), General Motors (GM), McKesson Corp. (MCK), Cardinal Health (CAH), and American Vanguard (AVD) to your…

StockNews.com

SVB: Moody's Delivers Bad News to First Republic and 5 Other Banks

The credit-rating company plans to downgrade the ratings of U.S. regional banks after Silicon Valley Bank collapsed.

The Street

Making sense of Silicon Valley Bank's failure: What it means for your money

It's never a good sign when "bank collapse" is trending on Twitter.

Los Angeles Times

Justice Department opens probe into Silicon Valley Bank after its sudden collapse

Justice Department officials have launched an investigation into the bank amid growing questions about who shares responsibility for the largest bank failure since the 2008 collapse.

WEKU

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Tribune News Service

Silicon Valley Bank’s collapse undercuts key engine of Bay Area economy

The collapse of Silicon Valley Bank has stripped the Bay Area’s startup industry — a key driver of the region’s economy — of a crucial source of funding that for decades has fueled innovation and growth.

The Independent UK

Fed, under criticism for bank failure, faces tough decisions

The Federal Reserve is facing stinging criticism for missing what observers say were clear signs that Silicon Valley Bank was at high risk of collapsing into what became the second-largest bank failure in U.S. history

The Street

Kevin O'Leary Takes a Hard Stance on These Post-SVB Stocks

Mr. Wonderful also blames the collapse on "idiots".

Los Angeles Times

In wake of SVB collapse, California business owners scramble to contain fallout

Locked out of her three accounts with failed Silicon Valley Bank, cookbook author Anna Vocino spent the weekend in a state of high anxiety, unsure about the future of her sauces and spices company.

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The Street

Here's Why Ken Griffin Says Most SVB Depositors Shouldn't Be Rescued

Capitalism can be cruel.

Investors Business Daily

Biotech Stocks And The SVB Collapse — Here's What We Know

The collapse of SVB will leave early-stage biotech companies in a funding dearth. But big-name biotech stocks will emerge largely untouched.

Fortune

‘It’s a big failure for us.' Sweden’s largest pension fund invested in both Silicon Valley Bank and Signature Bank before they failed

“We need to learn something from that and take actions based upon the lessons learned," Alecta CEO Magnus Billing told Bloomberg on Tuesday.

The Street

SVB Collapse: 'Big Short' Michael Burry Changes His Mind

The legendary investor and hedge fund manager believes the current crisis of confidence around banks is not a "true danger."

Al Jazeera

Silicon Valley Bank execs, parent company sued after collapse

Class-action lawsuit seeking damages alleges that tech-focused bank failed to disclose risks from interest rate hikes.

The Independent UK

Lawmaker’s explanation of Silicon Valley Bank’s collapse goes viral earning praise from followers

‘This is so good. Can you explain ... everything?’

Newsroom.co.nz

Amid fears for small players, big banks agree to a competition inquiry

Is NZ developing a two-tier banking system? There’s concern smaller savings institutions may be placed at greater risk, if customers follow Americans' flight to big banks this week. Jonathan Milne reports.

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