silicon-valley | ABS-CBN News

Is your money safe when your bank is in trouble?

Aneth Ng-Lim
Posted at Mar 20 02:11 PM

This was the question raised by depositors of Silicon Valley Bank and Signature Bank – both based in the United States – after reports they were struggling led to bank runs and their eventual collapse. Read more »

How AI could upend the world even more than the internet

Julie Jammot, Agence France-Presse
Updated as of Mar 19 09:50 AM

'This is the first time we're able to create intelligence itself and increase its amount in the universe.' Read more »

PH shares end week higher amid Silicon Valley Bank rescue

ABS-CBN News
Posted at Mar 18 03:21 AM

Philippine shares closed the week higher as the rescue of an American bank calmed fears of a global banking crisis. Read more »

PH banking system 'sound, resilient' amid SVB collapse: Medalla

ABS-CBN News
Posted at Mar 16 09:21 AM

Bangko Sentral ng Pilipinas Gov. Felipe Medalla said on Thursday the Philippine banking system is sound and resilient with no reported exposure to the embattled Silicon Valley Bank. Read more »

SVB collapse causes headaches for US Fed before rate decision

Daniel Avis, Agence France-Presse
Updated as of Mar 15 08:28 AM

The dramatic implosion of Silicon Valley Bank (SVB) last week could bring the Federal Reserve's current cycle of interest rate hikes to an end far sooner than expected. Read more »

US banking crisis dogs markets

Roland Jackson, Agence France-Presse
Posted at Mar 14 08:36 PM

Stock markets sank further in Asia and faltered in Europe on Tuesday, with banks sliding again on contagion fear after the collapse of two regional US lenders. Read more »

Nikkei ends with biggest fall in 3 months after US banks collapse

Kyodo News
Posted at Mar 14 06:23 PM

Tokyo stocks plunged Tuesday, with the Nikkei suffering its biggest one-day point fall in 3 months, led by the selling of bank-related issues amid concern over the U.S. financial system following the collapse of two regional U.S. banks. Read more »

PH banks say ‘no substantial impact’ from US bank failures

ABS-CBN News
Posted at Mar 14 02:43 PM

The Bankers Association of the Philippines on Tuesday said the recent bank failures in the United States “have no substantial nor material impact on Philippine banks.” Read more »

SVB's demise: Why didn't US bank regulators see it coming?

Juliette Michel, Agence France-Presse
Posted at Mar 14 01:00 PM

With hindsight, there were warning signs ahead of last week's spectacular collapse of Silicon Valley Bank, missed not only by investors, but by bank regulators. Read more »

Biden to speak on SVB collapse, reassure world on US banking resilience

Agence France-Presse
Posted at Mar 13 09:53 PM

President Joe Biden was set to try and reassure the world of the resilience of the US banking system Monday, as US and European authorities scrambled to prevent any contagion from the abrupt failure of Silicon Valley Bank. Read more »

HSBC buys failed US bank SVB's UK arm for £1

Agence France-Presse
Posted at Mar 13 05:12 PM

The UK arm of failed US lender Silicon Valley Bank has been sold to HSBC for a nominal £1 ($1.2) in a rescue deal, the government and HSBC announced Monday. Read more »

Biden vows to hold those responsible for bank failures 'fully accountable'

Agence France-Presse
Updated as of Mar 13 10:16 PM

President Biden vowed to hold accountable the people responsible for the failure of Silicon Valley Bank and a second financial institution. Read more »

US gov't rules out Silicon Valley Bank bailout

Agence France Presse
Updated as of Mar 13 06:31 AM

US Treasury Secretary Janet Yellen on Sunday said the government wanted to avoid financial "contagion" from the implosion of the Silicon Valley Bank but ruled out a bailout of the institution. Read more »

Worry for tech startups after Silicon Valley Bank failure

Thomas Urbain, Agence France-Presse
Posted at Mar 12 10:59 AM

Silicon Valley Bank's stunning collapse has led to the freezing of tens of billions of dollars stored there by startups and their private equity backers, raising fears of a wider tech sector fallout. Read more »

European bank shares sink on concerns over US sector

Agence France-Presse
Posted at Mar 10 05:39 PM

Shares of Europe's biggest banks tumbled on Friday after trouble at a regional US lender sparked a Wall Street rout on the sector in the United States. Read more »

YouTube boss Susan Wojcicki stepping down

Agence France-Presse
Posted at Feb 17 06:18 AM

YouTube chief Susan Wojcicki said Thursday that she is stepping down after nearly a decade as CEO of the world's most popular online video service. Read more »

Layoffs hit Silicon Valley as Amazon freezes hiring

Agence France-Presse
Updated as of Nov 04 07:24 AM

Payments firm Stripe and rideshare company Lyft, two darlings of Silicon Valley, announced major layoffs Thursday as the economy continues to darken for Big Tech. Read more »

Tesla's Musk says he is 'almost done' with stock sales

Hyunjoo Jin, Reuters
Updated as of Dec 23 02:36 PM

Tesla Inc Chief Executive Elon Musk said on Wednesday he was "almost done" with his stock sales after selling over $15 billion worth for more than one month. Read more »

Netflix launches mobile games for members worldwide

Agence France-Presse
Updated as of Nov 03 05:39 AM

Two of the games are based on the hit Netflix horror series "Stranger Things" and the remaining three are basic card or skill games. Read more »

Google extends remote work option due to pandemic

Agence France-Presse
Updated as of Sep 01 11:50 AM

Google on Tuesday extended the option for its employees to work from home into next year due to the pandemic. Read more »