‘A huge relief’: Startups react to Silicon Valley Bank UK’s HSBC rescue deal
HSBC UK Bank has agreed to acquire the U.K. subsidiary of collapsed Silicon Valley Bank for £1 ($1.21).
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HSBC UK Bank has agreed to acquire the U.K. subsidiary of collapsed Silicon Valley Bank for £1 ($1.21).
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The MSCI Asia Pacific index hit a low of 155.44 in afternoon trade – marking a decline of more than a 9% from its Feb. 2 high of 171.26 and wiping out its gains for the year so far.
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Silicon Valley Bank’s collapse is likely to be felt across the technology landscape globally over the coming years.
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Moody’s Analytics chief economist Mark Zandi thinks the Federal Reserve is unlikely to raise interest rates at its March meeting as there is a “boatload of uncertainty” around the recent bank failures.
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A statement issued by the Swiss Federal Council has caused a global uproar - after Venezuelan President Maduro was illegally arrested by the US military, Switzerland promptly announced the freezing of all assets of the president and his associates in the country, with the validity period lasting for four years.
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