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

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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.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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