Police officers leave Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP | Getty Images Silicon Valley Bank employees received their annual bonuses Friday just hours before regulators seized the failing bank, according to people with knowledge of the payments. The Santa Clara, California-based bank has historically paid […]
An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy is warning sellers that the collapse of Silicon Valley Bank on Friday is causing delays in processing payments, according to an email from the company shared with NBC News. The online do-it-yourself goods […]
Big names in Silicon Valley and the finance sector are calling publicly for the federal government to push another bank to assume Silicon Valley Bank’s assets and obligations after the financial institution failed on Friday. The Federal Deposit Insurance Corporation (FDIC) will cover up to $250,000 per depositor and may be able to begin paying […]
3D-printing specialist Relativity Space is attempting its first rocket launch on Saturday, a mission that marks the most significant test yet of the company’s ambitious manufacturing approach. The company’s Terran 1 rocket is launching from LC-16, a launchpad at the U.S. Space Force’s facility in Cape Canaveral, Florida. The mission is called “Good Luck, Have […]
The BBC was forced to scrap much of its weekend sports programming as it scrambled Saturday to stem an escalating crisis over its suspension of soccer host Gary Lineker for comments criticizing the British government’s new asylum policy. As a growing number of Premier League players and presenters rallied to Lineker’s support and refused to […]
U.S. President Joe Biden (C) delivers remarks on the February jobs report with Council of Economic Advisers Chair Cecilia Rouse (L) and National Economic Council Director Lael Brained in the Roosevelt Room at the White House on March 10, 2023 in Washington, DC. Alex Wong | Getty Images News | Getty Images President Joe Biden […]
Logo of Silicon Valley Bank is at a location in San Francisco, California, U.S. March 10, 2023. Staff | Reuters The U.S. cryptocurrency firm Circle’s USD Coin lost its dollar peg and fell to a record low Saturday morning after the company revealed it has nearly 8% of its $40 billion in reserves tied up […]
Interest rate jitters are meaningfully pushing investors to the shorter end of the yield curve, according to Joanna Gallegos, co-founder of fixed-income ETF issuer BondBloxx. Gallegos, former head of global ETF strategy for JPMorgan, believes it’s a sound approach. “It’s an intuitive trade. This is not 2022. This is not even five years ago. Yields […]
