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...The move is the latest problem for one of Silicon Valley’s most prominent fintech start-ups....
...Twelve months after the failure of Silicon Valley Bank shook the regional banking sector, NYCB’s recent struggles have underscored the continuing fragility at some US lenders....
...The fallout from NYCB weighed on other regional bank stocks, a sector that has not fully recovered from the collapse of Silicon Valley Bank and other mid-sized lenders last year....
...Job moves Vista Equity has hired Dan Parant as a managing director and global head of private wealth solutions. He joins from KKR....
...Before Silicon Valley Bank failed this spring, for example, there were multiple signs that it was deeply troubled....
...He would sell his Silicon Valley start-up Plaid to Visa for more than $5bn, netting fortunes for himself, his employees and a roster of blue-chip investors....
...Mortgage borrowing costs have hit a two-month high of 6.57 per cent, according to a Thursday survey from mortgage finance giant Freddie Mac....
...Much of the money ended up in long-dated mortgage securities carrying low yields that have since lost over $15bn in value....
...The weekend has been consumed by speculation over what might happen to Silicon Valley Bank’s depositors. On Sunday night we finally found out. Jason Calacanis saved the financial system....
...The fate of the holdings, which consist of mortgage-backed securities, collateralised mortgage obligations, and commercial mortgage-backed securities, had rattled bond markets, which feared the Federal Deposit...
...OK, so there was a liquidity problem with SVB and something about mortgage-backed-securities, and fundamental timing mismatches of liabilities....
...10 collapse of Silicon Valley Bank....
...But the speed of the outflows that struck Silicon Valley Bank and Credit Suisse seems to have made investors skittish that LCR assumptions are too sanguine, so Jefferies’ analysts have taken a closer look...
...Warren Buffett said there would have been “catastrophic” consequences if US regulators had not insured the deposits at Silicon Valley Bank and Signature Bank, as their failures risked sparking a run at lenders...
...largest US banks are expected to reveal this week that customers withdrew tens of billions of dollars in deposits at the start of 2023, even as they gained new customers following the collapse of Silicon Valley...
...Job moves Fiona McBain, the chair of Baillie Gifford’s flagship Scottish Mortgage Investment Trust, is stepping down just days after a rare public bust-up over corporate governance....
...Salesforce spent much of the past decade as one of the best-performing stocks in the valley as sales of its software soared....
...Debt derby In Silicon Valley where venture capital funds have dried up, the race to clinch alternative financing deals is on, the FT reports....
...Following the acquisition, Vista intends to integrate Blue Prism with Tibco, the Silicon Valley-based data analytics company it took private for $4.3bn in 2014....
...Scottish Mortgage has sold 80 per cent of its shares in Tesla over the past year as the UK’s largest investment trust exited positions in other Silicon Valley stars and boosted its exposure to China....
...Companies pushing such offers are hot property in Silicon Valley and on Wall Street....
...Even so, the deal has the makings of the private equity industry’s most politically charged incursion into the US housing market since the years after the mortgage crisis of 2008....
...Her appointment as chair of the Federal Trade Commission this week has sent shockwaves through Washington, Wall Street and Silicon Valley. James Politi has a profile of the 32-year-old. 5....
...He was born on November 2 1952, and grew up in Van Nuys, a nondescript neighbourhood in Los Angeles’ San Fernando Valley....
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