Silicon

Vice President Kamala Harris delivers an address on Artificial Intelligence policy at the U.S. embassy, Nov. 1, 2023, in London. (Carl Court/Getty Images) (NEW YORK) — After several of its brightest stars declared support for former President Donald Trump last month, Silicon Valley has now come out in force for Vice President Kamala Harris. Though […]

Former CEO of Silicon Valley Bank Gregory Becker takes his seats as he arrives for a Senate Banking Committee hearing on Capitol Hill, May 16, 2023, in Washington, D.C. — Drew Angerer/Getty Images (WASHINGTON) — Senators from both parties slammed former Silicon Valley Bank CEO Greg Becker at a hearing on Tuesday, accusing him of […]

Andrea Ronchini/NurPhoto via Getty Images (NEW YORK) — The collapse of Silicon Valley Bank, the second-biggest bank failure in U.S. history, took place over less than 48 hours. Customers withdrew $42 billion — nearly a quarter of the bank’s total deposits — within a single day last week. The speedy bank run has raised questions about […]

Jakub Porzycki/NurPhoto via Getty Images (NEW YORK) — Silicon Valley Bank’s failure on Friday raises concerns over the potential impacts on the climate technology industry, where SVB was heavily involved. “They went out of their way to attract entrepreneurs, to attract companies in the technology industry. They were one of the first banks to have a […]

Bloomberg Creative/Getty Images (WASHINGTON) — The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation announced Sunday that they will make additional funding available to ensure all Silicon Valley Bank deposits, both insured and uninsured, will be paid in full. “After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and […]

PM Images/Getty Images (LONDON) — Silicon Valley Bank UK is being acquired by HSBC in a £1 deal that will protect deposits, the United Kingdom’s chancellor and HSBC said on Monday. “This morning, the Government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC,” Chancellor of the Exchequer […]