new York CNN — Andrew Ross Sorkin woke up early Monday morning, well before dawn, having managed to squeeze in a few hours of sleep. The New York Times columnist had been up late at night to work on his DealBook newsletter. And now he had to get up for a special edition of “Squawk … Read more
hong kong CNN — The collapse of Silicon Valley Bank (SVB), which courted Chinese start-ups, has sparked widespread concern in China, where a series of founders and companies have rushed to appease investors claiming their exposure is insignificant or non-existent. SVB, which worked with nearly half of all venture capital-backed tech and healthcare companies in … Read more
A delivery man drops off pizza at the headquarters of Silicon Valley Banks in Santa Clara, Calif., on March 10, 2023. Noah Berger | AFP | Getty Images Bank of Silicon Valley had exclusivity clauses with some of its customers, limiting their ability to leverage the banking services of other institutions, according to SEC filings. … Read more
A customer stands outside the closed headquarters of Silicon Valley Bank (SVB) on March 10, 2023 in Santa Clara, California. Justin Sullivan | Getty Images Silicon Valley Bank customers, along with investors and bankers around the world, are awaiting an announcement from U.S. regulators on what comes next after the biggest bank failure since 2008. … Read more
Silicon Valley Bank is by far the best financial institution I have ever worked with. To be fair, that might not be a high bar: I don’t come from “private banker” money, I’m too young for the tellers who knew your name, and second prize goes to any bank whose app does not. Don’t actively … Read more
new York CNN — This week, the go-to bank for U.S. tech startups quickly unraveled, leaving its powerful clients and investors in limbo. Silicon Valley Bank, facing a sudden bank run and capital crisis, collapsed Friday morning and was taken over by federal regulators. It is the biggest failure of a US bank since Washington … Read more
Washington CNN — A mental health startup has exposed the personal data of 3.1 million people online. In some cases, potentially sensitive mental health treatment information was leaked, according to a company statement and a Department of Health and Human Services filing. Cerebral, a California-based company that connects people suffering from anxiety and depression with … Read more
HANOI/AMSTERDAM, March 10 (Reuters) – Suppliers to Dutch chip-making machinery giant ASML Holding NV (ASML.AS) are planning to build factories in Southeast Asia rather than China amid tensions policies between Beijing and the West, according to two sources and documents consulted by Reuters. Officials from a dozen tech companies are expected to travel to Vietnam, … Read more
London CNN — London has a history of punching well above its weight in global financial markets. For years, the London Stock Exchange has attracted an outsized share of investor capital relative to the size of the UK economy, reflecting the international nature of its listed companies. In 2000, stocks listed in the UK accounted … Read more
OKUMA, Japan (AP) — Twelve years after the meltdown of the triple reactor at the Fukushima Daiichi nuclear power plant, Japan is preparing to dump a massive amount of treated radioactive wastewater into the sea. Japanese officials say the release is inevitable and should begin soon. Wastewater management is less of a challenge than the … Read more