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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

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

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

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Silicon Valley Bank's UK arm is sold to HSBC to protect customers

Government and Bank of England helped facilitate the deal amid fears that the tech sector would be devastated by the bank's failure

Birmingham Post

Silicon Valley Bank UK arm is sold to HSBC with all deposits 'safe and secure'

Chancellor says SVBUK customers should 'feel reassured by the strength, safety and security' of HSBC

Insider UK

HSBC buys UK arm of Silicon Valley Bank

Deal is huge relief to UK tech sector, as many as 30% of whom had accounts with SVB

Evening Standard

Jeremy Hunt announces sale of Silicon Valley Bank to HSBC in rescue package

Over the weekend the Chancellor said there was a 'serious risk' to the UK's technology and life sciences sectors as a result of the collapse of Silicon Valley Bank.

Daily Mirror

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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

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

Warning of 'serious risk' to tech and science firms

People

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