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Wall Street Week: US investors ponder banking sector strain, Illumina draws Icahn interest, Adobe jumps on Q1 beat

Wall Street witnessed a frightening sell-off this week as the collapse of Silicon Valley Bank (SIVB:NASDAQ) and Signature Bank (SBNY:NASDAQ), the second and third biggest bank failures in US history, was followed more problems at Credit Suisse (CSGN:SWX) and First Republic (FRC:NYSE).No wonder investors were left fearing another systemic financial collapse like in 2008. For now, there is little ev

HSBC snaps up Silicon Valley Bank’s UK arm for just £1 to protect depositors

- US bank saved by regulators- UK arm rescued by HSBC- Depositors in both banks safeBanking regulators in the US and the UK moved swiftly over the weekend to limit the potential fall-out from the collapse of Silicon Valley Bank (SIVB:NASDAQ) and Silvergate Capital (SI:NYSE) last week.SVB held deposits belonging to half of all venture-backed startups in the US, according to Bloomberg, and on Friday

Wall Street Week: Silicon Valley Bank rocks US equity markets sending shockwaves across the global banking industry

US markets were rocked on Thursday as Silicon Valley Bank shares collapsed 60%. Officially SVB Financial (SIVB:NASDAQ), it has become synonymous with lending to high-risk technology start-ups, many of which are increasingly desperate for cash as venture capital funding has dried up.This has led to pressure on Silicon Bank's liquidity and vast bond sales, forcing it to go cap in hand to investors f
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