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.

Silicon Valley Bank, which catered to the tech industry for three decades, collapsed on March 10, 2023, after the Santa Clara, California-based lender suffered from an old-fashioned bank run. State regulators seized the bank and made the Federal Deposit Insurance Corporation its receiver.

The collapse of Silicon Valley Bank, the largest vendor in the startup ecosystem, is likely to adversely impact the Indian startup scenario as well as it has injected a lot of uncertainty in the sector overnight, industry experts say.

IT company Tech Mahindra on Saturday announced the appointment of former Infosys president Mohit Joshi as MD and CEO designate, who will take over the charge from C P Gurnani after his retirement on December 19 this year.

New Delhi: Reliance Jio, the country's largest telecom operator, on Wednesday announced the launch of its 5G services in 27 more cities of 13 states and union territories to extend its network of ultra high-speed telephony to 331 cities across India.

Cooperative Nafed will start procurement of kharif onion in Gujarat from Thursday from three mandis to provide relief to farmers, as prices have crashed in the wholesale markets, according to the Food and Consumer Affairs Ministry.

New Delhi: The embattled Adani Group has sold minority stakes in four of its listed companies to US-based GQG Partners for Rs 15,446 crore as the apple-to-airport conglomerate, recovering from a sell-off triggered by a short-seller report, looks to shore up liquidity ahead of the USD 2 billion debt repayment due in the coming months.

Air India has "enormous" potential and efforts are on to make the group a significant international player, its CEO Campbell Wilson said on Monday.