HSBC will buy UK subsidiary of collapsed Silicon Valley Bank
London (AP): The UK Treasury and the Bank of England have "facilitated the sale" of Silicon Valley Bank UK to HSBC, ensuring the security of 6.7 billion pounds (USD 8.1 billion) of deposits.
British officials worked throughout the weekend to find a buyer for the UK subsidiary of the California-based bank that failed last week.
"This morning, the government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC," Treasury chief Jeremy Hunt said in a Tweet. "Deposits will be protected, with no taxpayer support. I said yesterday that we would look after our tech sector, and we have worked urgently to deliver that promise."
HSBC said it will acquire Silicon Valley Bank UK Ltd for one pound.
This morning, the Government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC
— Jeremy Hunt (@Jeremy_Hunt) March 13, 2023
Deposits will be protected, with no taxpayer support
I said yesterday that we would look after our tech sector, and we have worked urgently to deliver that promise
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Maharashtra Assembly elections 2024: Five key constituencies to watch
Mumbai: The Maharashtra Assembly elections have witnessed a fierce battle for power, with the BJP-led Mahayuti alliance aiming to retain its position and the Maha Vikas Aghadi (MVA) coalition striving for resurgence. As counting begins today, 23rd November 2024, 4,140 candidates are in contention for 288 seats. Among these, 234 are general-category seats, while 29 are reserved for Scheduled Castes and 25 for Scheduled Tribes. Here are five constituencies to watch closely:
1. Worli:
Milind Deora (Shiv Sena - Shinde faction), Aaditya Thackeray (Shiv Sena UBT), and Sandeep Deshpande (MNS) are contesting. Aaditya Thackeray, the incumbent, is known for his hands-on approach during the pandemic. Milind Deora, a former minister, appeals to urban voters, while Deshpande focuses on infrastructure and housing issues.
2. Baramati:
Ajit Pawar (NCP) and Yugendra Pawar (NCP - Sharad Pawar faction) are in the fray. Ajit Pawar has held this seat since 1991, while Yugendra Pawar, mentored by Sharad Pawar, is making his debut in this traditional stronghold.
3. Vandre East:
Zeeshan Siddique (NCP) and Varun Sardesai (Shiv Sena UBT) are the key contenders. Siddique is popular among young voters and the Muslim community, while Sardesai has strong ties to Shiv Sena's traditional base.
4. Nagpur South West:
Devendra Fadnavis (BJP) and Praful Gudadhe (Congress) are contesting. Fadnavis seeks his fourth consecutive term, leveraging his development initiatives, while Gudadhe may attract voters dissatisfied with urban infrastructure and public services.
5. Kopri-Pachpakhadi:
Eknath Shinde (Shiv Sena) and Kedar Dighe (Shiv Sena UBT) are in a tough contest. Shinde, the current chief minister, highlights his mentor Anand Dighe’s legacy, while Dighe’s nephew, Kedar, challenges him in this Thane constituency.
The election campaign saw prominent leaders, including PM Narendra Modi, Amit Shah, Rahul Gandhi, and Priyanka Gandhi Vadra, actively canvassing across the state.
