British tech firms left on the brink

[zenfootball2]

This is somthing the goverment cant afford to stuff up. these are the kind of companies that the uk dont have enough of and if we are to have a future as a high tech country we must save. also we cant allow the chinese goverment to hover them up for peanuts.

www.dailymail.co.uk/news/article-11849995/Fears-existential-threat-British-tech-firms-collapse-Silicon-Valley-Bank.html
"British tech firms left on the brink after Silicon Valley Bank collapses in biggest failure since 2008 crash: Jeremy Hunt warns of 'serious risk' to UK businesses but promises help (and won't rule out bailout) after crisis talks with PM and Bank of England"

[zenfootball2]

the question i dont have the answer to is why did so many high tech companies go to an american bank for loans.

[frankwellshrews]

Mar 12, 2023 15:52:06 GMT 1 zenfootball2 said:

the question i dont have the answer to is why did so many high tech companies go to an american bank for loans.

A lot of these are tech start ups which are quite risky and have to find a bank willing to do business with them in the first place. SVB and more pertinently Silvergate were also believed to be balls deep in crypto. Casino banking, basically.

[zenfootball2]

www.dailymail.co.uk/news/article-11852965/HSBC-buys-failed-lender-Silicon-Valley-Bank-UK.html

"FTSE 100 tumbles over contagion fears despite HSBC buying collapsed Silicon Valley Bank's UK arm WITHOUT taxpayer help in government-brokered deal - saving hundreds of tech start-ups from disaster"

[Deleted]

My daughter works for an American based tech company so she was on pins when she opened up her e mails this morning, not knowing what to expect. Fortunately her company are not reliant on SVB.

Worrying times however and certainly the world's financial markets have reacted to this collapse.

[zenfootball2]

Mar 13, 2023 20:49:23 GMT 1 @gwyneddblue said:

My daughter works for an American based tech company so she was on pins when she opened up her e mails this morning, not knowing what to expect. Fortunately her company are not reliant on SVB.

Worrying times however and certainly the world's financial markets have reacted to this collapse.

im glad to hear your daughter has not been afected by this


it certanly caused a wobble and concerns about other banks 
www.reuters.com/business/finance/global-markets-banks-instant-view-2023-03-10/

www.dailymail.co.uk/news/article-11855573/100BN-wiped-banking-market-SINGLE-DAY-bloodbath-Wall-Street.html