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The Latest Breaking News from Silicon Valley Bank

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

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

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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

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

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

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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

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

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.

Tribune News Service

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 Independent UK

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.

Los Angeles Times

‘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.

Fortune

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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.

Fortune

Shark Tank star blasts SVB's 'idiot management' and 'negligent directors' over collapse

'Mr Wonderful' claimed President Joe Biden nationalized the American banking system.

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Fortune

Bitcoin surpasses $25,000 after SVB collapse, CPI report

The cryptocurrency has struggled to maintain momentum past the $25,000 mark in 2023.

Axios

The week that killed Silicon Valley Bank

Early in the week of Feb. 27, SVB got some worrisome news.

The Independent UK

Justice Department and SEC to probe stock sales ahead of Silicon Valley Bank collapse, report says

Stock transactions before bank share price collapsed now under scrutiny

Fortune

Conservatives blame Silicon Valley Bank failure on 'woke' policies

Florida Gov. Ron DeSantis blamed Silicon Valley Bank's focus on diversity for its failure.

The Independent UK

Pence blames Biden for Silicon Valley Bank collapse after fierce blowback against Trump administration

Mr Pence blames the bank’s ‘woke’ goals and the Biden administration’s spending for the SVB collapse

Ballotpedia

Critics blame ESG for Silicon Valley Bank failure

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

The Independent UK

Wall Street expert predicts next major bank to fold

A Wall Street expert has revealed which bank he believes will fail next, following the collapse of Silicon Valley Bank

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