on Tuesday, but many are still grappling with whether urgent debt facilities can be replaced in a tough financing market amid the threat of further contagion.
“We are talking with a few other banks in the US, but this won’t affect our ability to operate there.” But over the past two days, Mr Brummer was forced to speak with alternative debt providers to secure another round of venture debt. None can match the terms that SVB had provided. “There’s going to be good start-ups that might fall on really hard times and might even die when they really shouldn’t.”
Jamie Beaton, founder of Crimson Education, managed to get his funds out of SVB and transferred them to his home bank in New Zealand.“Terror has changed to relief and the main issues people were fretting about have abated,” Mr Beaton said.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hillsong leaders announce financial review after federal parliament allegationsHillsong church announces it will commission an independent financial review after being accused in federal parliament of 'fraud, money laundering and tax evasion'. IBAC now Albo 👍 Julia Gillard’s former chief-of-staff, Ben Hubbard – who helped Anthony Albanese’s transition into gov – has won several contracts with commonwealth agencies since last year’s fed election, including the PM's department Tax the churches ahhh it is with absolute glee that the abc brings the Christianity FUD! how they dance triumphantly with the demons when this kinds of news breaks unfortunately for the abc it might be too late to choose the winning side there is ALWAYS grace...
Source: abcnews - 🏆 5. / 83 Read more »
Investors hope SVB collapse prevents US Federal Reserve from raising interest rateHerald Sun Business commentator Terry McCrann says people see the Silicon Valley Bank collapse as a “good news story” with hopes it causes the “fed to back off on raising interest rates”. “Right now, investors are actually seeing it as a good news story,” Mr McCrann told Sky News host Andrew Bolt. “It could cause the fed to back off on raising interest rates and maybe even start to cut interest rates.” SVB was the world's wokest bank, which is saying a lot these days. They had little expertise and even less interest in risk-mitigation. Most of their clients were über-wealthy 'progessives', so of course the Biden administration will cover their losses. Is Herald Sun Business commentator Terry McCrann vaccinated?
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Victoria to ask federal government to fund SEC as state sets ambitious target for first projectThe Albanese government will be asked to help fund Victoria’s resurrected SEC, while discussions with major industry super funds have begun.
Source: theage - 🏆 8. / 77 Read more »
Silicon Valley Bank's collapse is being called 'Lehman 2.0', but it is it as bad as the GFC?Based in Santa Clara and with more than $US200 billion in assets, Silicon Valley Bank (SVB) was the 16th-largest in America, making it the biggest bank failure since the global financial crisis of 2008. The implications for financial markets and the global economy are big. Listen up normies: The first two collapses were legit..Signature bank was not insolvent..it was the last pro crypto bank to on board users. They are attacking the crypto market to clear the way for the USDR digital currency Biden bailed them all out. Gotta look after your donors. It's nothing like a Lehman situation. I feel sorry for ABC consumers who are so misinformed by its 'journalists'. SVB was badly managed bank with concentrated assets and client base....a client base of Democratic party supporters who just got bailed out by the Biden regime.
Source: abcnews - 🏆 5. / 83 Read more »
'Whitewashes historic and ongoing racism': Government facing pressure over Harmony DayThe federal government is facing calls to restore Harmony Day to its original and internationally recognised name, with the Greens saying it 'whitewashes historic and ongoing racism in Australia'. When one views events solely through the filter of racial politics, then every decision and outcome is seen as race-based. Does it really fkn matter what you call it if the intent is the same ? Sometimes the Greens really fail to grasp the big picture. Should just call it Racially vilify White People Day.
Source: abcnews - 🏆 5. / 83 Read more »
AUKUS updates LIVE: Stephen Jones says SVB Aussie contagion ‘very limited’Regulatory agencies advise the federal government that Australia faces “limited” risk; US announces deposit protection for all SVB clients. Follow updates here. mirandadevine RitaPanahi realDonaldTrump TuckerCarlson DonaldJTrumpJr JudgeJeanine FoxNews Albanese cowardly attack on President Trump Here
Source: FinancialReview - 🏆 2. / 90 Read more »