A tumultuous week in US financial markets ended on an uncertain note Friday after a massive $30 billion injection of large bank deposits into First Republic Bank failed to appease investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – concerns about weakness in … Read more
SAN JOSE, Calif. (AP) — Disgraced Theranos CEO Elizabeth Holmes appeared Friday in what could be her final trial before she began an 11-year prison sentence unless a judge grants her request to remain free while her lawyers are in custody. appeal against her conviction for the mastermind behind a blood test hoax. The 90-minute … Read more
SVB Financial’s troubles may have started the latest round of stock market woes, but despite the lender’s ties to Silicon Valley, the tech sector has remained remarkably resilient during the sell-off. That’s obvious no matter how you slice it. In the past five trading days through Thursday’s close, the S&P 500 has effectively broken even, … Read more
Bitcoin and other cryptocurrencies continued to rise, blowing through key price levels by the end of the week and fueling calls for another bull market amid a macroeconomic backdrop that may favor cryptos over equities. Bitcoin’s price is up 7% in the past 24 hours to above $26,500, surpassing levels reached earlier this week and … Read more
On March 16, 2023 in San Francisco, California, a sign was posted on the outside of a First Republic Bank office. Justin Sullivan | Getty Images News | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. CNBC Daily Open brings investors up to speed with everything they … Read more
Sao Paulo CNN — Five Starlink internet devices were found on Tuesday at illegal mining sites in the Amazon region during raids by Brazil’s environmental police, the environmental agency said. Starlink are small, easy-to-use satellite dishes made by Elon Musk’s private rocket company SpaceX. Starlink says its equipment “can provide high-speed, low-latency broadband internet in … Read more
YouTube TV’s price will increase from $65 a month to $73 a month starting in April, according to an email sent to subscribers on Thursday. “As content costs have increased and we continue to invest in the quality of our service, we are updating our pricing to continue to provide you with the best service … Read more
While SVB serves tech startups and venture capital firms primarily based in the US or with a presence in the US, some VCs in Southeast Asia – such as Jungle Ventures and Golden Gate Ventures – were also clients of SVB. Many VC firms in Southeast Asia could face challenges in finding another bank that … Read more
Stripe co-founder John Collison gives a speech in Paris in 2016. Jacques Demarthon | AFP via Getty Images Payment processor Stripe raised $6.5 billion at a $50 billion valuation, the company said Wednesday, a sharp discount from its record $95 billion valuation in 2021. “Stripe does not need this capital to run its business,” the … Read more
Tim Mayopoulos attends the Bilt Rewards Launch Party at Equinox Hotel New York at Hudson Yards on June 22, 2021 in New York City. Sean Zanni | Patrick Macmullan | Getty Images Tim Mayopoulos, three days after taking over as government-appointed CEO of Silicon Valley Bank, has a message for his powerful venture capital and … Read more