Author: News Desk

Financial stocks take a hit as Silicon Valley Bank shares plummet Shares in Silicon Valley Bank (SVB) dropped sharply on Thursday as investors moved to withdraw their deposits. The drop came after the bank – a key lender to tech start-ups – announced a $1.75bn (£1.5bn) share sale to help bolster its finances. Shares in banks around the world have fallen, with the four largest US banks losing more than $50bn in market value. On Friday, shares in Asian banks were also trading lower. Shares in SVB saw their biggest one-day drop on record after plummeting by more than 60%…

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Today’s news summary – Paper Talk Friday’s front pages lead on the announcement that the HS2 high-speed rail project will be delayed by two years to cut costs. Elsewhere, the government’s controversial migrant bill also features on the front page.  HS2 – betrayal of the north The Daily Mirror reports that the HS2 high-speed rail project will be delayed by two years to cut costs, which it calls a “Huge Shambles 2” and a “betrayal of the North”. The i warns that the delay could jeopardise the government’s “levelling up” plans, while the Daily Express asks “Who’d have thought it?”…

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