A deliveryman delivers a pizza at Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger AFP Getty Images Silicon Valley Bank have exclusivity clauses with some clients, limiting their ability to tap banking services from…
After crypto-friendly Silvergate announced it was going into voluntary liquidation amid a capitalization crisis, the blockchain firm rushed to one of the last US banks to offer financial services to the volatile industry—New York-based Signature Bank. On Sunday, two days…
The Federal Reserve announced an emergency lending facility on Sunday to shore up the US banking system after the implosion of Silicon Valley Bank sparked fears of contagion. In a statement, the Fed said it would provide additional funding to…
PNC Bank Branch in New York, on Wednesday, January 18, 2023. Bing Guan Bloomberg Getty Images PNC Financial Group has decided against the offer Silicon Valley Bank as the regulator struggled to find a buyer for the failed bank’s assets,…
The Oscars weekend includes “Scream VI” in theaters, as the horror sequel earned a best-ever domestic ticket sales of $44.5 million, according to studio estimates Sunday. The joint production of Paramount Pictures and Spyglass Media Group exceeded past expectations, easily…
Iran’s foreign minister said Tehran was in the final stages of prisoner swap negotiations with the US, demanding progress on a sensitive and important deal that Washington immediately denied. Hossein Amirabdollahian told state television on Sunday that the two countries…
Noted economist Ed Hyman of Evercore ISI said the Federal Reserve should consider pausing interest rate hikes in part because of the financial shock that has developed with Silicon Valley Bank. “It might be a good idea for the Fed…
Federal Deposit Insurance Corp. began the auction process late Saturday for Silicon Valley Bank, with bids closing late Sunday afternoon, according to people familiar with the matter. The FDIC is aiming for a quick deal but the winner may not…
The author is a partner at Sequoia Capital Not many share the connection between Siena, the most majestic city in the mountains of Tuscany, and the highlands of Santa Clara, the city in northern California that is home to the…
Janet Yellen, US Treasury secretary, spoke during a meeting of the Financial Stability Oversight Council (FSOC) at the Treasury Department in Washington, DC, USA, on Friday, December 16, 2022. Ting Shen Bloomberg Getty Images After regulators shut down Silicon Valley…