HSBC has scooped up the UK arm of failed Silicon Valley Bank, securing the deposits of thousands of British tech firms that hold money at the lender.
Had a buyer not been found, SVB UK would have been placed into insolvency by the Bank of England following the stunningof its parent in the United States. Insolvency would have left customers with only deposits worth up to £85,000 — or £170,000 for joint accounts — guaranteed.
The acquisition should “end the nightmare thousands of tech firms had been experiencing over the past few days,” Susannah Streeter, head of money and markets at investing platform Hargreaves Lansdown, said in a statement. Uncapped had launched an emergency funding program Saturday to help companies meet payroll and other obligations. It had received “hundreds” of applications from UK and US firms by Monday, according to Pisarz, who said it remained ready to support firms affected by the SVB collapse. Uncapped is also offering longer-term bridge loans to help with working capital.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
As Tech Jobs Disappear, Silicon Valley Veterans Reset Their CareersMany laid-off tech workers from the likes of Meta, Amazon and Salesforce are landing in roles with smaller companies—and prizing job stability over prestige.
Leer más »
The man who unleashed AI on an unsuspecting Silicon ValleyOpenAI CEO Sam Altman took the artificial intelligence company from nonprofit to kingmaker. Not everyone is happy with him.
Leer más »
This terrifying reason Silicon Valley Bank collapsed is a threat to thousands of other businessesThis terrifying reason Silicon Valley Bank collapsed is a threat to thousands of other businesses. SVB executives embraced ESG policies and ‘woke capitalism.’
Leer más »
Warren, AOC press top Silicon Valley Bank depositors about any cushy treatment they receivedProgressive Democrats Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez demanded answers from SVB's 14 largest depositors.
Leer más »
Here’s where the Salt Lake Valley could see flooding in the next weekWith warmer temperatures in the forecast, the Wasatch Front could get its first floods from spring runoff.
Leer más »