Page 6 - Silicon Valley

Apple delays bonuses for some, limits hiring in latest cost-cutting effort

The majority of Apple's divisions had already moved to a once-a-year schedule for bonuses and promotions, including software engineering and services

Top headlines: FPIs seek six more mths from FinMin, 1st India chip fab soon

Business Standard brings you the top headlines at this hour

'Help us rebuild' deposit base: Silicon Valley Bridge Bank's new CEO

Mayopoulos said on a Tuesday conference call with clients that the future of the bank "is still being charted," and that the company could be recapitalized, taken over by a new owner or wound down

TMS Ep389: Repo rate hike, HUL CEO Rohit Jawa, YES Bank, contagion risk

Are we heading for another repo rate hike? What challenges does the new HUL MD & CEO face? Has YES Bank turned the corner? What is contagion risk? All answers here

Can a Fed rate hike slowdown trigger global equity markets rally?

Only if more skeletons don't emerge from the closet

SVB resolution reassuring, will bring relief to startups: Ashwini Vaishnaw

Amid US administration's move to backstop collapsed Silicon Valley Bank's (SVB) despoits, IT minister Ashwini Vaishnaw has said the developments are "reassuring" and will bring relief to startups. The Biden administration in the US has announced that depositors of the failed Silicon Valley Bank will have access to their money from Monday. Federal regulators have stepped to back all SVB deposits. "SVB resolution is reassuring. (It) will bring relief to startups," Vaishnaw told PTI. US President Joe Biden on Monday sought to reassure Americans that they can have confidence that the US banking system is "safe" and vowed stricter bank regulation after a string of bank failures raised concerns about the nation's financial stability. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling the FDIC to complete its ..

Class action suit against Silicon Valley Bank parent company, CEO, CFO

A class action lawsuit is being filed against the parent company of Silicon Valley Bank, its CEO and its chief financial officer, saying that company didn't disclose the risks that future interest rate increases would have on its business. The lawsuit against SVB Financial Group, CEO Greg Becker and CFO Daniel Beck was filed in the U.S. district court for the Northern district of California. It is looking for unspecified damages to be awarded to those who invested in SVB between June 16, 2021 and March 10, 2023. The lawsuit from shareholders led by Chandra Vanipenta says some quarterly and annual financial reports from SVB didn't fully account for warnings from the Federal Reserve about interest rate hikes. In particular, the lawsuit said that annual reports for 2020 through 2022, understated the risks posed to the company by not disclosing that likely interest rate hikes, as outlined by the Fed, had the potential to cause irrevocable damage to the company, the lawsuit stated. It

SVB: Shareholders sue Silicon Valley Bank parent, CEO, and CFO for fraud

The lawsuit is the first among many that can be filed over the collapse of the bank and takes on Silicon Valley Bank's parent company, CEO Greg Becker, and CFO Daniel Beck

SVB mess: Moody's puts First Republic, 5 other US banks on downgrade watch

The credit rating company cited concerns over the lenders' reliance on uninsured deposit funding and unrealized losses in their asset portfolios

Silicon Valley Bank's collapse rattles the disruptors in tech industry

Silicon Valley Bank's collapse rattled the technology industry that had been the bank's backbone, leaving shell-shocked entrepreneurs thankful for the government reprieve that saved their money while they mourned the loss of a place that served as a chummy club of innovation. They were the gold standard, it almost seemed weird if you were in tech and didn't have a Silicon Valley Bank account, said Stefan Kalb, CEO of Seattle startup Shelf Engine, during a Monday interview as he started the process of transferring millions of dollars to other banks. The Biden administration's move guaranteeing all Silicon Valley Bank's deposits above the insured limit of $250,000 per account resulted in a palpable sigh of relief in Israel, where its booming tech sector is connected with an umbilical cord to Silicon Valley, said Jon Medved, founder of the Israeli venture capital crowdfunding platform OurCrowd. But the gratitude for the deposit guarantees that will allow thousands of tech startups to .

TMS Ep388: SVB collapse, Apple India, debt investments, deposit insurance

Does SVB collapse pose a contagion risk for India? Why is Apple so bullish on India? Is it time to shift focus from equities to debt? What is deposit insurance? All answers here

Silicon Valley Bank conducting business as usual, says new CEO amid crisis

Earlier in the day, the US Federal Deposit Insurance Corporation had tapped former Fannie Mae head Mayopoulos as CEO of the newly created entity, named Silicon Valley Bank N.A

Here's what Silicon Valley Bank's collapse means for climate tech

It's the first major headwind to blow against a boom in climate-tech investing that was capped off by incentives in the US Inflation Reduction Act last year

Where will startups turn to now that the Silicon Valley Bank is gone?

Silicon Valley Bank became the financier to tech stars by offering an array of products tailored to their needs, that few other institutions dared

SVB's collapse drives concern over Japanese banks' exposure to US bonds

SVB's woes have been rooted in tens of billions of dollars it plowed into longer-term bonds, confident that rates would stay steady

Here's how Silicon Valley Bank served the tech industry and beyond

Conceived over a poker game between two of its founders nearly 40 years ago, the firm grew into the single most critical financial institution for the nascent tech scene

HSBC Holdings to buy Silicon Valley Bank's UK arm for £1 in tech repreive

The London-listed lender's "ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1," HSBC said in a statement Monday.

Silicon Valley Bank collapse: Benchmark yield slips the most in five months

SVB collapse likely to force Fed to go slow on rate hikes, say analysts

SVB crisis: How a little-known bank plunged markets globally into chaos

On 10th March, a relatively lesser-known California bank became the centre of attention in the markets. Silicon Valley Bank's shares plummeted by 86%, and customers rushed to the bank to withdraw their deposits, forcing the company to suspend trading. What caused this sudden collapse and what happens to the bank's customer's now. Watch the video to know. #siliconvalleybank #financialcrisis #banks

Safe-haven gold accelerates to $1,900 level as traders assess SVB fallout

Gold raced towards the key $1,900 level on Monday as investors sought cover from the uncertainty triggered by the collapse of Silicon Valley Bank