DVST

SVB Financial Group seeks cooperation with FDIC after $2 bln frozen

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SVB Financial Group seeks cooperation with FDIC after $2 bln frozen

March 21 (Reuters) – An attorney for SVB Financial Group (SIVB.O) told a judge on Tuesday it was seeking cooperation from regulators who seized its Silicon Valley Bank unit and removed $2 billion of its cash, which was needed to sustain operations. SVB Financial, which filed for bankruptcy on Friday, had said in court papers … Read more

TikTok says US threatens ban if Chinese owners don’t sell stakes

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TikTok says US threatens ban if Chinese owners don't sell stakes

WASHINGTON, March 15 (Reuters) – The Biden administration has demanded that TikTok’s Chinese owners divest their stakes in the popular video app or face a possible U.S. ban, the company told Reuters on Wednesday. The move, first reported by the Wall Street Journal, is the most dramatic in a series of recent steps by U.S. … Read more