The fallout from the Silicon Valley bank collapse is beginning to spread around the world
Silicon Valley Bank announced, in a statement today, Sunday, that its business operations are continuing without interruption, quoting Reuters.
The fallout from the Silicon Valley bank collapse is beginning to ripple around the world.
Start-up founders in California’s Gulf of Mexico fret about accessing funds and paying employees. Contagion fears have even reached Canada, after the bank’s loan book doubled in the past year.
The UK arm of SVB, due to declare insolvency, has already ceased dealing and is not taking on new clients. On Saturday, the leaders of nearly 180 tech companies sent a letter asking British chancellor Jeremy Hunt to intervene.
