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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TVK goes solo in Puducherry polls, names candidates for 30 seats
Puducherry (PTI): The TVK on Sunday announced its candidates for the upcoming assembly polls in Puducherry.
The party said it will contest all the 30 constituencies on its own.
The list includes two women, who have been fielded from Mangalam and Kadirkamam in Puducherry region.
The party has named A K Sai J Saravanan Kumar as is its nominee in Thirubhuvanai reserved segment here.
Saravanan Kumar quit the BJP on Saturday following denial of ticket to him to seek reelection from Oussudu reserved segment.
Former AIADMK legislators K A U Asana and L Periyasamy are the TVK nominees to contest from Karaikal (South) and Nettapakkam (reserved) segments respectively.
Former president of the Puducherry unit of the BJP, V Saminathan has been fielded in Lawspet constituency.
Former Deputy Inspector General of Police of Puducherry V J Chandran and former Congress legislator N Dhanavelou are among the party nominees.
The party has also announced the names of its candidates for the remaining constituencies.
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