While investors have flocked to tech in the market shakeup amid recent banking turmoil, the rotation is at odds with analyst calls for the steepest drop in quarterly profits for the sector since at least 2006. Nearly 60% of the 367 respondents surveyed by Bloomberg said the bounce in theRead More →
Indian market witnessed a mixed performance in the current week with US and Europe banks’ turmoil majorly impacting sentiments globally. Both Sensex and Nifty have tumbled by nearly 2% between March 13 to March 17. Currently, Sensex is below 58,000 and the Nifty 50 is breathing around 17,100. In theRead More →
President Joe Biden promised a “full accounting of what happened”. (Representational) New York: With hindsight, there were warning signs ahead of last week’s spectacular collapse of Silicon Valley Bank (SVB), missed not only by investors, but by bank regulators. Just why the oversight failed remained a hot question among bankingRead More →
USD Coin is listed as the second largest “stable” currency worldwide. New York: The supposedly “stable” cryptocurrency USDC fell sharply after the firm that created it, Circle, announced it holds $3.3 billion in failed Silicon Valley Bank (SVB) and has dropped its peg to the dollar. Circle said late FridayRead More →
Two ways. Gradually, then suddenly. That is how Silicon Valley Bank (svb), the 16th-largest lender in America, with about $200bn in assets, went bust. Its financial position deteriorated over several years. But just two days elapsed between the San Francisco-based bank’s announcement on March 8th that it was seeking toRead More →
