The Financial Times reports on Chancellor Jeremy Hunt is rushing to gather a cash lifeline for scores of UK-based tech businesses hit by the collapse of Silicon Valley Bank.
The paper was published before the announcement that HSBC has bought the UK’s branch of the US bank – too much relief for the UK tech industry.
The paper says Mr Hunt has dismissed a bailout of the UK arm of SVB, but will instead focus on keeping cash flowing to tech groups.
The deal will hopefully create ‘thousands’ of jobs in the UK.
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