Stocks were flat on Wednesday as Wall Street braced for the Federal Reserve’s first potential rate hike since the recent fallout in the banking sector. THE Dow Jones Industrial Average fell 22 points, or 0.07%. THE S&P500 fell by 0.10%, while Nasdaq Compound fell by 0.07%. The major averages posted solid gains in the previous … Read more
The Silicon Valley Bank (SVB) logo is visible through a rain-covered window. Justin Sullivan | Getty Images News | Getty Images LONDON — HSBC on Monday announced a deal to buy the UK subsidiary of US tech startup lender Silicon Valley Bank, which collapsed on Friday. HSBC has confirmed that its bounded UK subsidiary, HSBC … Read more
27 minutes ago China’s Silicon Valley Bank firm says balance sheet is ‘independent’ The Chinese joint venture of the closed Silicon Valley Bank said its operations were “independent and stable” amid the collapse of its US parent last week SPD Silicon Valley Bank is a 50/50 joint venture between Silicon Valley Bank and Shanghai Pudong … Read more