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HSBC acquires collapsed SVB’s UK wing

The collapse of the "Silicon Valley Bank" led to widespread panic in the global markets. The bank also financed many firms in the UK, to protect these companies UK Banking giant HSBC has acquired the British arm of SVB with the support of the Bank of England.

HSBC acquires collapsed SVB’s UK wing

The collapse of the "Silicon Valley Bank" led to widespread panic in the global market, with investors and traders scrambling to sell off their assets. While the US government has already taken several measures to stabilize the banking system. The New York-based bank also financed many firms in the UK, to protect these companies UK Banking giant HSBC has acquired the British arm of SVB with the support of the Bank of England.

As of March 10, Silicon Valley Bank UK Limited had around £5.5 billion in loans and around £6.7 billion in deposits, HSBC said. "This acquisition makes excellent strategic sense for our UK business," HSBC Chief Executive Noel Quinn said.

"HSBC is Europe's largest bank and SVB UK customers should be reassured by the strength, security and protection they bring, this morning the Government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC. Deposits will be protected, without taxpayer support”- Britain's finance minister, Jeremy Hunt said.

The Shocking Collapse of Silicon Valley Bank

Silicon Valley Bank (SVB) was one of the leading banks for the innovation economy, with over $100 billion in assets under management. The bank provided a range of financial services to its clients, including commercial banking, investment banking, and asset management. The bank was shut down by US regulators on Friday in what was the biggest failure by a US bank since 2008.

The collapse of the SVB Financial Group occurred after it had to force-sell its AFS securities at a 1.8 billion loss. Following the news, customers immediately tried to pull their money, including many venture-capital firms. According to the regulator, the withdrawals initiated by depositors and investors amounted to $42 billion on Thursday alone.

On Friday, Shares of SVB Financial Group Inc., the parent company of Silicon Valley Bank, dropped more than 60% before the trading was halted after the financial institution announced plans to sell $2.2 billion in stock.

“We are taking these actions because we expect continued higher interest rates, pressured public and private markets, and elevated cash burn levels from our clients,” Silicon Valley Bank Chief Executive Officer Greg Becker said.

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YouTube: Sự hiện diện mạnh mẽ trên mạng xã hội của Alphabet

YouTube: Sự hiện diện mạnh mẽ trên mạng xã hội của Alphabet

YouTube là một công ty con của Alphabet, một tập đoàn công nghệ với vốn hóa thị trường 1.7 nghìn tỷ đô la. Việc Google (sau này trở thành Alphabet) mua lại YouTube vào năm 2006 với giá 1.65 tỷ đô la đã trở thành một tài sản tạo ra lợi nhuận dài hạn cho Alphabet, đóng góp gần 11% vào tổng doanh thu của công ty. Trong quý 1 năm 2023, Alphabet báo cáo doanh thu tổng cộng là 69.8 tỷ đô la, tăng 3% so với cùng kỳ năm trước, với doanh thu hàng năm từ quảng cáo của YouTube đạt gần 20 tỷ đô la vào năm 2020. Việc thêm YouTube vào danh mục của Google đã mở rộng mô hình kinh doanh của công ty từ một công cụ tìm kiếm đơn thuần thành một nền tảng lưu trữ nội dung video, cho phép tạo ra các nguồn thu nhập bổ sung từ quảng cáo và nội dung trả phí của bên thứ ba. Mặc dù doanh thu quảng cáo của YouTube đã giảm trong quý 1 năm 2023, công ty vẫn là một nguồn thu lớn đáng kể cho Alphabet.

Mối đe dọa của suy thoái kinh tế treo lơ lửng trên thị trường dầu mỏ thế giới.

Mối đe dọa của suy thoái kinh tế treo lơ lửng trên thị trường dầu mỏ thế giới.

The global oil market is facing uncertainty due to the risk of recession, particularly with signals coming from China that its economy is not doing as well as expected. This has led to a downward trend in oil prices, with Brent crude trading below $76 per barrel on world markets. However, the oil slump has not had too much of a negative impact on the economy of the largest mining giants, according to Gulf Brokers. The first quarter results of Saudi Aramco, the world's largest mining company, showed a year-on-year decrease in net profit of approximately one-fifth to less than $32 billion.