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yahoo!news: Silicon Valley Bank trading halted; staff asked to work from home as SVB seeks a buyer, say reports

Posted By: NaturalWisdom
Date: Saturday, 11-Mar-2023 18:05:23
www.rumormill.news/218858

In Response To: TechCrunch - SVB contagion: UK arm shuts down, government scrambles and startups brace for the worst (NaturalWisdom)

Lehman Brothers redux... I'm sure the Fed and Treasury Department officials are working overtime this weekend...
-NW

Silicon Valley Bank trading halted; staff asked to work from home as SVB seeks a buyer, say reports
Manish Singh and Ingrid Lunden
yahoo! news
March 10, 2023

[snip]

Silicon Valley Bank Financial, the publicly traded holding firm of Silicon Valley Bank, has paused trading this morning pending an announcement. The latest, from the typically reliable market tracker Deltaone, is that it's sent out a memo to employees advising them to work from home until further notice as it engages in "conversations to determine next steps for the bank."

The notice comes on the heels of a report in CNBC earlier today saying that the firm is in talks to sell itself.

The developments are the latest troubling turns for the technology-focused lender in what has been a surprising, precipitous downfall.

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