Banks (Finance)
British technology companies face a "serious risk" from the collapse of Silicon Valley Bank UK, the Chancellor has warned, as he vowed the Government will do "everything we can" to protect them. Jeremy Hunt and Prime Minister Rishi Sunak are working at pace to find a
Banks (Finance)
The failure of Silicon Valley Bank marks the largest bank collapse since the 2008 financial crisis, with the Federal Deposit Insurance Corporation seizing its assets on Friday. The bank's demise was precipitated by a wave of withdrawals from depositors, largely comprised of technology workers and venture capital-backed companies,
Banks (Finance)
The recent reports about Silicon Valley Bank (SVB) crisis have sent shockwaves through the market, with investors concerned about the potential for a Wall Street crash. The crisis began when SVB's parent company, SVB Financial Group, announced the sale of $21 billion in securities and a $2.25
Banks (Finance)
A 78-year-old woman from Wichita, Kansas, was sentenced to 48 months in prison for her role in a multi-million dollar bank and tax fraud scheme. Nancy Martin, former bookkeeper, business manager, and chief operating officer of Mid-Kansas Wound Specialists and Emergency Services P.A., pleaded guilty to one count of
Banks (Finance)
Roger B. Handberg, the United States Attorney for the Middle District of Florida, announced the unsealing of an indictment charging Omayra Ujaque with three counts of bank fraud and one count of aggravated identity theft. Ujaque, a licensed mortgage loan officer, allegedly created and executed a mortgage fraud scheme targeting
Banks (Finance)
Indian domestic equities opened relatively flat on Thursday as the Reserve Bank of India's (RBI) concerns over inflation weighed on market sentiments. Despite some resilience from the broader indices, sector-specific stocks continued to witness volatility, led by the media sector. Amid the market's cautious tone, Adani
Banks (Finance)
HDFC Bank and Punjab National Bank have increased their fixed deposits interest rates for certain tenures under Rs 2 crore. This move follows the latest hike in the repo rate announced by the Reserve Bank of India, with several banks increasing interest rates to attract deposits. HDFC Bank offers interest
Banks (Finance)
As one of Australia's largest banks, Westpac, has lifted its forecast for the peak cash rate to 4.1%, new figures show consumer confidence sinking and small businesses struggling with rising costs. Despite this, larger firms report a positive start to 2023, with NAB's monthly business
Banks (Finance)
Several leading Indian banks provide attractive interest rates on education loans to students studying in the country or abroad. These loans offer a blessing for those who desire to continue higher education but are financially weak or find it difficult to pay on their own. Education loans can be either
Banks (Finance)
As India's Reserve Bank hikes the repo rate, banks are upping their deposit interest rates, making them more alluring. The government has also increased interest rates on certain small savings schemes for the January-March 2023 quarter. Here's a side-by-side comparison of interest rates offered by SBI,
Banks (Finance)
As inflation rates stabilize, the Federal Reserve may raise interest rates again, potentially making it more expensive for small businesses to borrow. Despite this, alternative lenders and institutional lenders are experiencing an increase in approvals, with rates rising from 25.9% in December to 26.1% in January. Meanwhile, big
Banks (Finance)
The Bank of England is set to raise interest rates for the 10th consecutive time, taking borrowing costs to 3.5%, as it grapples with an acute policy dilemma. With the economy showing signs of weakening and inflation still above 10%, the central bank is under pressure to act decisively
