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
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Minor girl kidnapped and raped; main accused and two cafe owners held
Latur (PTI): A minor girl was allegedly kidnapped and raped by an 18-year-old man in Latur, leading to the arrest of the main accused and owners of two cafes where the crime occurred on December 4, police said on Saturday.
Police traced the girl within hours of registering the complaint. The accused, identified as Rihan Gulab Shaikh, was arrested based on the girl's complaint. Two others are owners of two cafes where the crime occurred, police said.
Police registered a case under various sections of the Bharatiya Nyay Sanhita (BNS), POCSO Act, and the Prevention of Atrocities Act, an official said.
