More than 250 UK tech firm executives sign a letter calling for government intervention and warning of an 'existential threat' to the UK tech sector.
on Friday, March 10, of the US bank SVB Financial Group, which focuses on tech startups, was the biggest in the US since the 2008 financial crisis.
Hunt said efforts are focused on finding a “longer-term solution that minimizes, or even avoids completely, losses to some of our most promising companies.” Bank of London, a clearing bank, is weighing whether an offer is possible, a person with knowledge of the discussions told Reuters. Hunt reiterated comments by the BoE that overall, Silicon Valley Bank had a limited presence in Britain and did not perform functions critical to the financial system.
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