DIRS.INFO The most relevant business & tech news

☆ Against the odds, the USA cricket team is capturing hearts and minds with historic run through Men’s T20 Cricket World Cup
▼ + stars: | 2024-06-16 | by ( Ben Morse | Patrick Snell | ) edition.cnn.com time to read: +7 min

Saurabh Netravalkar (left) bowled the decisive Super Over to help the USA to its famous victory over Pakistan at the Men's T20 Cricket World Cup. A momentous dayBorn and raised in Mumbai, India, USA bowler Saurabh Netravalkar began playing cricket from an early age. Such was the promise he showed that he was selected for India’s team for the Under-19 World Cup in 2010, finishing the tournament as the country’s leading wicket taker. Not only is the US one of the co-hosts for the T20 World Cup for the first time, but it is making its debut appearance on this stage. The USA's success at the T20 World Cup has captured the hearts and minds of supporters at its home games.

Persons: Saurabh Netravalkar, Matt Roberts, Netravalkar, “, ”, Andrew Caballero, Reynolds, Aaron Jones, ” Jones, CNN’s Patrick Snell, Jones, Virat Kohli, Rohit Sharma, Adam Hunger, Ali Khan, Nosthush Kenjige, ” Kenjige, Stuart, ‘, ’, –, US –, We’ve Organizations: CNN, USA men’s, India, Pakistan, ICC, Ireland, India national, Cornell University, Cricket Council’s, USA, BBC, Veteran USA, USA Cricket, Stuart Law, Major League Cricket, US, Canada Locations: Pakistan, Mumbai, India, USA, New York, San Francisco, AFP, Queens , New York, Barbados, Caribbean, Dayton , Ohio, South Africa, New Zealand

☆ HSBC builds innovation division from the bones of collapsed SVB UK
▼ + stars: | 2023-06-12 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

U.K. banking titan HSBC unveiled a new HSBC Innovation Banking unit Monday, as it seeks to push into the technology sector following its eleventh-hour rescue of the U.K. subsidiary of failed Silicon Valley Bank (SVB) in March. HSBC acquired the London-based SVB unit for £1 after its parent company suffered a run on its assets fueled by customer fears over the bank's solvency. SVB was one of several U.S. and European lenders that met their downfall earlier this year as broader turmoil rattled the global banking sector. The U.K. government and Bank of England facilitated the purchase in a bid to protect deposits, as Britain separately struggles to retain its position as an international tech capital. Some have questioned whether traditional financial institution HSBC is well placed to take over the legacy of SVB and finance tech-focused startups and small businesses.

Persons: SVB, Ian Stuart, CNBC's Arjun Kharpal Organizations: HSBC, HSBC Innovation Banking, Bank, Bank of England Locations: London, Britain

☆ HSBC says rebranded Silicon Valley Bank UK will maintain startup focus while targeting global growth
▼ + stars: | 2023-06-07 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

Silicon Valley Bank UK will continue to serve startup businesses from "seed funding to IPO," the chief executive of its new owner, HSBC UK, said Tuesday. "We're going to protect what we've got," Ian Stuart told CNBC's Arjun Kharpal at the Money20/20 fintech conference in Amsterdam. "We are going to keep it ringfenced within our own ringfenced bank, it will have its own board, it will have its own risk policies, we are going to protect what it's got today." HSBC UK bought the London-headquartered subsidiary of Silicon Valley Bank for £1 ($1.21) in March after its U.S. parent company collapsed. Despite not having a major customer base in the U.K., hundreds of founders and VCs said the bank's failure would be highly damaging to the tech sector, and the government stepped in to facilitate a deal over the course of a weekend.

Persons: we've, Ian Stuart, CNBC's Arjun Kharpal, it's, VCs Organizations: Valley Bank, HSBC, HSBC UK, London, Silicon Valley Bank Locations: Amsterdam, Silicon

☆ We're going to protect what we've got in Silicon Valley Bank UK, new owner HSBC says
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're going to protect what we've got in Silicon Valley Bank UK, new owner HSBC saysIan Stuart, chief executive of HSBC UK, discusses plans for the rebranded Silicon Valley Bank UK following its hurried March takeover.

Persons: we've, Ian Stuart Organizations: Silicon Valley Bank UK, HSBC, HSBC UK, Valley Bank UK Locations: Silicon Valley

☆ HSBC UK Bank CEO explains how UK arm of Silicon Valley Bank was bought for £1
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHSBC UK Bank CEO explains how UK arm of Silicon Valley Bank was bought for £1Ian Stuart, CEO of HSBC UK Bank, shares his insights on the process of the acquisition.

☆ HSBC bought Silicon Valley Bank UK in record time — here's how events unfolded
▼ + stars: | 2023-03-16 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

HSBC came to the rescue of Silicon Valley Bank UK in a crucial deal for the whole banking sector. Silicon Valley Bank — a U.S. lender with clients mostly in the tech and health-care startup world — was deemed insolvent by American regulators on Friday. Consequently, the Bank of England announced Friday that, "absent any meaningful further information," it would be placing Silicon Valley Bank UK into an insolvency procedure. More than 200 companies — depositors with SVB UK — wrote Saturday to the U.K.'s Treasury asking for help. They said that some would not be able to comply with payroll deadlines without accessing their deposits with SVB UK.

With assets of around 5.5 billion pounds and deposits of around 6.7 billion pounds, SVB UK is a minnow compared to HSBC. The situation was urgent because SVB UK had lost almost half of its deposits in the 48 hours leading up to its rescue, the source said. Officials from the Bank of England and Treasury along with board members from SVB UK were then locked in talks. HSBC also plans to inject 2 billion pounds of liquidity into SVB UK, a spokesperson for HSBC said. Advisory firm Rothschild, which advised SVB UK according to sources, also declined to comment.

[1/2] British Chancellor of the Exchequer Jeremy Hunt talks to a television crew outside the BBC headquarters in London, Britain November 18, 2022. REUTERS/Henry Nicholls/File PhotoLONDON, Dec 7 (Reuters) - Britain's financial watchdog laid out options on Wednesday it said banks should offer customers finding it difficult to make payments on mortgages during the cost of living crisis. Prices slid last month by the most since the global financial crisis, mortgage lender Halifax said on Wednesday. In its draft guidance, the FCA also said firms may offer payment concessions where they agree to accept less than the contractual monthly instalment - resulting in a payment shortfall. "We will consider if there are further steps we can take to help firms to support their borrowers, including at scale."

Search resuls for: "Ian Stuart"

8 mentions found