As the world starts to assess the fallout of the biggest bank collapse since the 2008 financial crisis, here are the various ways the bank of Silicon Valley stretched its tentacles around the tech industry and beyond.
About 1,20,000 new positions may open in FY24, mostly in manufacturing; nos may rise to at least 3,00,000 by FY26.
The Competition and Markets Authority (CMA) opened a full investigation in November into cloud gaming and mobile browsers over concerns about restrictions by iPhone-maker Apple, as well as by Google.
The crime branch is investigating into the suicide of one Manikandan, and has filed an FIR that claims he had killed himself after losing money playing RummyCircle.
Silicon Valley Bank had about $209 billion in total assets and about $175.4 billion in total deposits, as of Dec. 31, 2022.
The IPO is being launched by way of an offer for sale (OFS) of up to 95,708,984 equity shares, representing approximately 23.60% of its paid-up share capital.
A bank in Silicon Valley, California, which is the parent company of Silicon Valley Bank, raised money on short notice to avoid having to cut jobs in the technology and startup industries. This has caused the stock prices of other banks to drop, as investors become more cautious.