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What caused the Silicon Valley Bank failure, and what might happen next
SVB was brought down by the oldest issue in banking — a run on the bank
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Banking system is 'safe', Biden assures Americans after SVB collapse
US President Joe Biden on Monday reassured Americans that their banking system is safe in the wake of the sudden collapse of Silicon Valley Bank (SVB) and the federal takeover of a second bank.
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Silicon Valley Bank: Money in failed US bank is safe - US government
People and businesses who have money deposited with failed US bank Sillicon Valley Bank (SVB) will be able to access all their cash from Monday, the US government has said.
By Editors Desk -
Regulators Face Urgent Task to Stem Spread From Silicon Valley Bank
Next steps could have ripple effects through the financial system
By Editors Desk
Latest Business
Silicon Valley Bank collapse marks 2nd biggest bank failure in U.S. history
Bank, the 16th largest in U.S., failed after depositors hurried to withdraw money
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US hiring boom continued in February with 311,000 added jobs
Number is lower than January’s 504,000 jobs but comes as Fed signals aggressive interest rate hikes in bid to tame inflation
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Credit Card Nation: How we went from record savings to record debt in just two years
A little here, a little there
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Tyler Perry Expressed Interest in Buying Majority Stake of BET Media Group From Paramount Global
Potential sale of part of parent of BET and VH1 would help Paramount shore up resources for streaming
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Tesla to Build a Manufacturing Plant in Mexico
President Andrés Manuel López Obrador says the northern Mexican industrial hub of Monterrey will host the operation
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YouTube CEO Susan Wojcicki Is Stepping Down After Nearly a Decade in the Role
She will be succeeded by Neal Mohan, YouTube’s current chief product officer
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Yahoo eyes retail stock trading in major growth push
The company’s advertising group will be reduced by half by the end of the year
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Adidas shares tumble as fallout from Yeezy sneakers deepens
German group warns it may take a hit of up to €700mn as new CEO says it needs to ‘put pieces back together’
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Russia's Economy Forecast to Outperform U.S. Within Two Years
The International Monetary Fund reported that Russia's GDP would be over 2 percent in 2024, with the U.S. seeing 1 percent growth that year.
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Corporate Layoffs Spread Beyond High-Growth Tech Giants
Dow, IBM and SAP say they will lay off thousands of workers as belt-tightening becomes the new business priority
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Justin Bieber Sells Music Rights to Blackstone-Backed Fund Hipgnosis
The deal includes more than 290 of the pop star’s songs including ‘Love Yourself’ and ‘Ghost’
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Spotify to Cut 6% of Workforce in Latest Tech Layoffs
Streaming company says move is part of broader cost-cutting measures
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Netflix Co-Founder Reed Hastings Transitions to Chairman Role, With Greg Peters Elevated as Co-CEO
Streaming giant added 7.7 million net new subscribers in fourth quarter
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Netflix Shocker: Reed Hastings to Exit Co-CEO Role, Will Remain as Executive Chairman
Greg Peters has been promoted to co-CEO alongside Ted Sarandos, with Bela Bajaria and Scott Stuber also being promoted.
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Netflix co-CEO steps down
Cofounder Reed Hastings will now serve as executive chairman, the company announced. Here's what we know
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Janet Yellen Says U.S. Begins Extraordinary Measures to Avoid Debt Default
Maneuvers give Congress five months to pass legislation raising or suspending the debt limit
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