HSBC Acquires British Arm of Stricken Silicon Valley Bank

LONDON, March 13 Reuters HSBC said on Monday it is acquiring the UK subsidiary of stricken Silicon Valley Bank for 1 pound, rescuing a key lender for technology startups in Britain. This acquisition makes excellent strategic sense for our business in the UK, HSBC CEO Noel Quinn said in a statement. The move comes after U.S. authorities […]
Read More

SVB Collapse Could Add to China Stock Investors Anxiety

HONG KONG, March 12 Reuters China stock investors, already disillusioned by Beijing39;s lowerthanexpected economic growth target for the year, will be further disheartened by the shock collapse of U.S. lender SVB Financial Group, market participants said. China39;s CSI300 Index dropped 4 last week, while Hong Kong39;s Hang Seng tumbled 6, as China39;s moderate GDP growth target of […]
Read More

Dollar Slides on Likely Rate Pause in Wake of SVB Collapse

SINGAPORE, March 13 Reuters The dollar fell sharply on Monday on heightened expectations the Federal Reserve will take a less aggressive monetary path as authorities stepped in to limit the fallout from the sudden collapse of Silicon Valley Bank. The U.S. government announced several measures early during the Asian trading day, saying all SVB customers will have […]
Read More

European, Asian Bank Stocks Slide, U.S. Banks Gain in Premarket

SINGAPORELONDON, March 13 Reuters Bank shares in Europe and Asia slid on Monday, as the collapse of startupfocused Silicon Valley Bank continued to shake markets, although U.S. banking stocks rallied in premarket trading after authorities moved to stem the contagion. The U.S. government stepped in on Sunday with a series of emergency measures to shore up confidence […]
Read More