Money

Will the collapse of Silicon Valley Bank cause an economic meltdown?

Published

3 years ago

March 13, 2023

Silicon Valley Bank customers will have access to their deposits starting on Monday, U.S. officials said on Sunday.

“Depositors will have access to all of their money starting Monday, March 13,” the U.S. Treasury, Federal Reserve and Federal Deposit Insurance Corp said in a statement. “No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer,” the statement said.

Canadian fallout

A Canadian banking regulator on Sunday said it was taking temporary control of Silicon Valley Bank’s (SIVB.O) unit in the country, as the fallout from the collapsed U.S. startup-focused lender reverberated around the world.

The Office of the Superintendent of Financial Institutions (OSFI) said it is seeking to gain permanent control of the Canadian branch’s assets, adding that it is asking the attorney general of Canada to petition for a winding-up order of operations.

“By taking temporary control of the Canadian branch of Silicon Valley Bank, we are acting to protect the rights and interests of the branch’s creditors,” Peter Routledge, the superintendent of financial institutions, said in a statement.

OFSI said the U.S.-headquartered bank has operated in Canada since 2019 as a foreign bank branch based in Toronto. Its business in Canada is primarily lending to corporate clients, and the branch does not hold any commercial or individual deposits in Canada.

What is Silicon Valley Bank?

Silicon Valley Bank is a unique financial institution that focuses on supporting innovators, entrepreneurs and other pioneers in the technology industry. It offers banking services and capital for companies of all sizes throughout the world, with special focus on startups in areas such as software and life sciences.

SVB believes in taking risks with new ideas and provides valuable advice, guidance and mentorship to their customers along with access to an extensive global platform of networks.

With experienced teams of financiers, SVB helps make it easier for their clients to navigate complex markets overseas.

This commitment to long-term partnerships with tech-forward companies has helped make Silicon Valley Bank the go-to choice for tech investors everywhere.

Money

Australian Dollar surges: What $0.70 means for markets

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

Published

13 hours ago

February 18, 2026

Harvey Vargas

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

The Australian dollar has jumped more than 5 percent against the U.S. dollar this year, now trading around $0.70. This rapid rise has sparked mixed reactions for importers and exporters as Australia’s materials sector shows signs of bouncing back, despite concerns over rising interest rates.

Dale Gilham from Wealth Within breaks down the factors behind the AUD surge, the implications for commodities, and what it means for big miners like BHP. From profits to strategy, we explore how the market is reacting to this currency shift.

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#AustralianDollar #AUD #Forex #Investing #Commodities #BHP #Mining #Markets

Money

S&P 500 rises as financial stocks lead and tech slips

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

Published

14 hours ago

February 18, 2026

Harvey Vargas

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

The S&P 500 climbed 0.4% on Tuesday, boosted by strong gains in financial stocks. Citigroup and JPMorgan led the rally, showing investors are rotating money into the sector as tech stocks faltered.

Meanwhile, software shares struggled, with ServiceNow, Autodesk, and Palo Alto Networks all seeing notable declines. Concerns around AI disruption continue to affect the software and financial sectors alike.

Market watchers are now turning their attention to upcoming inflation reports later this week, looking for signals that could shape the next moves in the market.

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Money

Australia’s GST debate heats up amid tax reform push

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Published

1 day ago

February 17, 2026

Harvey Vargas

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.

Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.

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