TG: Royal Mail owner received takeover offer from Czech billionaire
THE GUARDIAN reports: IDS shares rise as it is reported it rejected bid from Daniel Křetínský’s ...
THE GUARDIAN reports:
The government has struck a last-minute deal for HSBC to buy Silicon Valley Bank’s UK operations, saving thousands of British tech startups and investors from big losses after the biggest bank failure since 2008.
The takeover will override the Bank of England’s initial decision to place SVB UK into insolvency, after a run on the lender that was originally sparked by fears over the a multibillion-pound shortfall on the US parent company’s balance sheet. The US bank was closed and its assets seized by authorities on Friday.
The acquisition – which only cost HSBC £1 – followed overnight talks between Downing Street, the Bank of England and HSBC bosses including the chief executive, Noel Quinn, as authorities rushed to protect the finances of SVB UK’s 3,500 customers. Those customers included venture capital investors and hundreds of tech startups that feared they would go bust if their deposits were wiped out…
Full coverage and latest developments can be found here.
The full statement is here.
'I'm scared', says Boeing whistleblower, after two others suffer mysterious deaths
DSV could face $16m bill after helicopter is written off in haulage accident
Déjà vu as major ocean carriers scramble for tonnage and containers
Indian trade disrupted as port congestion forces liner services to skip calls
Shipper frustration as spot rates rise alongside demand, and cargo is rolled
Don't get too confident for Q2, market risks haven't disappeared, warns Yang Ming chief
Flexport's newly liveried aircraft ready as business looks up
Don't chase that final dollar, warning to shippers delaying signing new contracts
Comment on this article