SVB is a major bank for venture-back companies, and cited cash burn from clients as one reason it was looking to raise additional capital.
Payrolls rose 311,000 in February, more than expected, as jobs growth stays hot
Nonfarm payrolls were expected to increase by 225,000 in February, while the unemployment rate was projected to hold at 3.4%, according to Dow Jones.
Stocks making the biggest moves premarket: SVB Financial, Allbirds, DocuSign and more
Shares of the company known as Silicon Valley Bank extended their big slide from Thursday.
Silicon Valley Bank drops another 45%, weighing on the bank sector again
Shares of SVB Financial Group, known as Silicon Valley Bank, tumbled for a second day Friday and weighed on the whole banking sector again.
When it comes to passing wealth on to kids, women have very different ideas to men
Men and women have different approaches to wealth, and that affects how they plan to pass their money on to future generations, a new UBS report says.
Many of Europe’s ‘golden visa’ programs are closing — but demand is up in this Mediterranean hotspot
Greece has seen a surge in the number of people applying for its residency by investment program while other European countries call time on such programs.
European banking stocks sink as Silicon Valley Bank jitters spread
European banking stocks sold off sharply in early trade Friday as a global contagion effect took hold after shares in U.S. bank SVB Financial plunged 60%.
Consumer spending in China isn’t surging back yet, companies say
China has yet to see a strong rebound in consumer spending, according to major companies.
UK economy rebounds with stronger-than-expected January GDP print
The U.K. economy grew by 0.3% in January, official figures showed on Friday, exceeding expectations as it continues to fend off what economists see as an inevitable recession.
Staying in British castles may be easier — and cheaper — than you think
Storied Collection connects travelers with historically significant castles, manor houses and hotels in the U.K. — plus details about famous former guests.