Vodafone Business CEO steps down as mobile giant battles European sales slowdown March 16, 2023 The chief executive of Vodafone Business will leave the mobile giant at end of this year, it has been announced. Vinod Kumar will continue to run the business until 31 December before pursuing a portfolio career. This comes after the dramatic stepping-down of Vodafone Group’s former CEO Nick Read in December 2022, with Margherita Della [...]
Silicon Valley Bank: US bosses sued for fraud as fallout from collapse begins March 14, 2023 The parent company of Silicon Valley Bank and two of its top bosses are being sued by shareholders who have accused them of hiding the lender’s vulnerabilities to the effects of rising interest rates.
“Project Yeti”: Inside the scramble to save Silicon Valley Bank UK March 13, 2023 “It’s going down to the wire.” That was the view of Coadec CEO Dom Hallas at 11pm on Sunday evening after hours of meetings had failed to produce a deal on the future of Silicon Valley Bank – with the tech industry warning it would be an existential threat to thousands of firms across the [...]
HSBC buys Silicon Valley Bank UK for £1 in last-minute rescue for tech firms March 13, 2023 HSBC has announced this morning it is buying the stricken UK arm of Silicon Valley Bank, providing a lifeline for tech firms who had feared losing access to their deposits. The global giant emerged as a ‘white knight’ late last evening – against competition from the Bank of London and an Abu Dhabi investment fund [...]
Silicon Valley Bank UK: What we know (and don’t know) on Monday morning March 13, 2023 Silicon Valley Bank UK was put into insolvency last night – with expectations that government would step in before Monday’s market open now looking more unlikely. The bank’s accounts are effectively frozen, meaning that firms will be unable to access their deposits – possibly leaving them unable to pay bills or salaries. SVB UK’s parent [...]
What Silicon Valley Bank’s collapse in the UK should tell the biggest banks March 13, 2023 It is, as they say, rather awkward timing. On Wednesday, Chancellor Jeremy Hunt was expected to deliver a paean to the tech industry – with investment incentives aplenty and no doubt lots of promises regarding our “world-leading” sectors. After the collapse of Silicon Valley Bank UK, though, it is more likely that the industry needs [...]
Collapse of Silicon Valley Bank UK ‘could have big impact on tech start-ups’ March 11, 2023 The collapse of Silicon Valley Bank UK (SVBUK) could have a significant impact on tech start-ups, it has been warned. The Coalition for a Digital Economy (Coadec), a non-profit campaigning for policies to support digital start-ups, responded to the overnight announcement from the Bank of England that it would apply to put SVBUK into a [...]
What’s going on at Silicon Valley Bank and why is it shaking UK banking stocks? March 10, 2023 Silicon Valley Bank (SVB) has built its reputation lending to some of the world’s most innovate start-ups and investors. But the Nasdaq-listed bank has now been rocked by what some fear could turn into a very old-fashioned bank run. Shares in the firm have plunged more than 60 per cent in two days and jitters [...]
WANdisco suspends shares over ‘potentially fraudulent irregularities’ March 9, 2023 Data firm WANdisco has suspended trading on the London Stock Exchange today after finding “potentially fraudulent irregularities” in its books that mean it may have overstated its revenues by $15m.
FCA mounts defence after being blamed for Arm’s London snub March 8, 2023 The Financial Conduct Authority has mounted a defence of its role in the botched charm offensive on British chipmaker Arm today after the firm revealed it would shun a London listing in favour of New York last week.