Money

Silicon Valley bank collapse sends shockwaves

Published

9 months ago

March 11, 2023

ticker NEWS

The sudden collapse of Silicon Valley Bank sent shockwaves through the startup community, which has come to view the lender as a source of reliable capital.

SVB Financial Group was shuttered by California banking regulators Friday in a bid to protect depositors following a dive in the value of its investment holdings and a rush of withdrawal requests starting just two days ago.

The bank was seeking a sale, sources told Reuters, and trading in its shares was halted after they plummeted 60%.

At some California branch locations, depositors gathered early Friday to attempt to get their cash out, fearing it could be inaccessible in the coming days.

And at some sites the doors were locked and cursory notes were found advising customers to try elsewhere.

At a Menlo Park, California, branch, customers were greeted by a taped up press release apprising them the bank had moved into receivership and would be known as Deposit Insurance National Bank of Santa Clara.

The bank has been central to the formation of many early stage companies due to its reputation for taking bets on startups that may have had little chance of survival otherwise and for which larger banks may find far too risky.

It has had financial relationships with a who’s who of Silicon Valley firms over the years, including Snapchat’s parent Snap Inc.

Snap declined to comment.

The full extent of the fallout from the bank’s crash could take weeks or months to gauge and might presage a period of more cautious investing in technology startups.

Leaders

Diversifying and enhancing payment methods

Published

16 hours ago

December 8, 2023

ticker NEWS

American Express reveals Australian homeowner bill payment insights

In response to the growing trend of card and tap-and-go payments, organisations are adapting their systems to accommodate diverse payment options.

American Express recently conducted research shedding light on homeowner sentiments towards local councils, with a focus on Australian attitudes and behaviours related to bill payments.

Vice President and General Manager of Global merchant services at American Express, Robert Tedesco, provides his insights.

Leaders

Explosive growth and dominance of the audio industry

Published

21 hours ago

December 8, 2023

ticker NEWS

Global radio market hits staggering $143 billion valuation, cementing audio industry’s dominance

The audio industry continues to assert itself as a formidable force, with the 2023 global radio market reaching a substantial value of $143 billion.

The podcast market has surged to an impressive worth of $18.52 billion, showcasing a compound annual growth rate of 27.6%.

Tony Simmons, CEO and founder of Sonnant, discusses how the audio industry can be made even better.

Presented by VentureCrowd – To find out more about Conscious Investing, head to www.venturecrowd.com.au

Money

Nick Kyrgios shocks fans with surprise OnlyFans announcement

Published

23 hours ago

December 8, 2023

ticker NEWS

Tennis sensation Nick Kyrgios sent shockwaves through the sports and entertainment world today as he revealed a surprising career move.

The Australian athlete, known for his fiery on-court antics and charismatic personality, has announced his entry into the world of OnlyFans, a platform typically associated with adult content creators.

In an unexpected turn of events, Kyrgios took to social media to share the news with his followers. He stated, “I’ve always enjoyed pushing boundaries and breaking the mold. I’m excited to announce that I’ll be joining OnlyFans to share exclusive content and connect with my fans in a new way.”

The announcement has left fans and pundits alike wondering what kind of content Kyrgios will be sharing on the platform.

The decision has sparked a debate about the intersection of sports and social media, as well as the evolving landscape of content creation.

Some fans are eagerly anticipating behind-the-scenes glimpses of Kyrgios’s life, while others are questioning the potential impact on his professional tennis career.