Have US government, regulators and Federal Reserve just reignited Bitcoin bull market? March 13, 2023 Nigel Green examines how the measures taken over Silicon Valley Bank seem to have helped to boost crypto prices.
Silicon Valley Bank triggers rout as HSBC, Lloyds and Natwest shares tumble March 13, 2023 Bank stocks slumped on both sides of the Atlantic today as the fall out of the Silicon Valley Bank crisis spooked investors. The sector has been plunged into turmoil since Friday as the full scale of the troubles at the start-up and venture capital focused lender became clear. American bank First Republic was among the [...]
SVB and Silvergate bailout sees Bitcoin rally March 13, 2023 Bitcoin is up 9.4% in the last 24 hours, trading for $22,408 this morning, recovering all its losses and then some of the past week.
Phoenix: Insurer hikes dividend after volatile markets hit investments and share price March 13, 2023 British insurer Phoenix Group today posted a £1.23bn loss as volatile markets hit the value of the insurance company’s investment portfolio. Shares in the FTSE 100 company fell sharply on the news as Phoenix pointed to the “challenging economic backdrop” after noting it generated 12.5 per cent less cash than in 2021 The insurer, however, [...]
Direct Line shares crash as winter cold snap and inflation leave its results ‘as ugly as they can be’ March 13, 2023 Direct Line today posted a £45m loss for the year 2022 as the insurer suffered a hit from soaring inflation, extreme weather, and market volatility, in what analysts described as one of the “worst years” in the Bromley firm’s history. Shares in Direct Line fell by 5.79 per cent on the news, as the insurer [...]
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 [...]
Silicon Valley Bank’s demise began with downgrade threat March 11, 2023 In the middle of last week, Moody’s Investors Service delivered alarming news to SVB Financial Group, the parent of Silicon Valley Bank: the ratings firm was preparing to downgrade the bank’s credit. That phone call, described by two people familiar with the situation, began the process toward Friday’s spectacular collapse of the startup-focused lender, the biggest bank [...]
Silicon Valley Bank UK says it will be put into insolvency this weekend March 11, 2023 Silicon Valley Bank UK has said it will be put into insolvency from Sunday evening. The announcement came after Silicon Valley Bank (SVP) was put under US government control on Friday afternoon, the biggest failure of a US bank since the 2008 financial crisis. The Bank of England said it would apply to place SVPUK [...]
What do Aviva’s results mean for the insurer’s share price? March 9, 2023 British insurance giant Aviva today set out plans to buy back £300m worth of its own shares from investors, after posting what analysts and the firm itself described as “strong” results for 2022. Aviva’s announcement saw its share price jump by almost four per cent in trading this morning, before settling at a rate almost [...]
Mark Kleinman: Inside Gousto’s shareholder spat and the exec not afraid to ruffle feathers on London’s corporate exodus March 9, 2023 Sky News’ Mark Kleinman is the man the City reads – and in his fortnightly column for City A.M., he shares his insight and analysis. Gousto cash call leaves a sour taste in the mouth A dominant CEO, a board willing to ignore the interests of small shareholders and a spiralling share price: mix the [...]