Reuters UK Business

(Reuters) – British finance minister Jeremy Hunt will hand businesses a three-year tax break worth 11 billion pounds ($13.23 billion) by replacing the UK’s investment allowance with a temporary measure in next week’s budget, Bloomberg News reported on Saturday, citing a government official with knowledge of the matter. Hunt will limit the relief to three …

UK plans 11 billion stg business tax break in budget – Bloomberg News Read More »

LONDON (Reuters) – British finance minister Jeremy Hunt said he wanted to lower tax rates for individuals and especially businesses in the longer term but warned it would take time because the economy needed to grow more quickly first. Hunt, who is due to present his budget on Wednesday, said in an interview broadcast on …

UK finance minister Hunt says he can’t rush into tax cuts Read More »

(Reuters) – Meta Platforms Inc said on Friday it is exploring strategic alternatives for customer service company Kustomer that it acquired in a process ending last year. “We are currently exploring strategic alternatives for Kustomer and will continue to support Kustomer’s product and customer base throughout this process,” the Facebook owner said in an emailed …

Meta explores strategic alternatives for Kustomer business-software firm Read More »

By Hannah Lang (Reuters) -Greg Becker, the chief executive officer who presided over the collapsed Silicon Valley Bank, joined the company three decades ago as a loan officer. The executive cut his teeth during the dotcom bubble and later steered the startup-focused lender in the wake of the 2008 global financial crisis. He became president …

Who is Greg Becker, the head of failed Silicon Valley Bank? Read More »

LONDON (Reuters) -The Bank of England said on Friday that it was seeking a court order to place Silicon Valley Bank UK Limited into an insolvency procedure, after U.S. regulators took over its parent company, SVB Financial Group, earlier in the day. “SVB UK has a limited presence in the UK and no critical functions …

Bank of England seeks to wind up Silicon Valley Bank’s UK arm Read More »

By Greg Bensinger, Anna Tong, Krystal Hu and Jeffrey Dastin (Reuters) – The sudden collapse of Silicon Valley Bank on Friday sent shockwaves through the startup community, which has come to view the lender as a source of reliable capital and deposit partner, particularly for some of tech’s biggest moonshots. On Friday, tech CEOs scrambled …

SVB shutdown sends shockwaves through Silicon Valley as CEOs race to make payroll Read More »

By Pete Schroeder WASHINGTON (Reuters) – Silicon Valley Bank’s high level of uninsured deposits helped kick off the run that led to the bank’s closing down, and now any of those depositors will need to hold their breath to see if bank regulators can recover enough to make them whole. Friday’s announcement by the Federal …

After Silicon Valley Bank’s shutdown, uninsured depositors face tense wait Read More »

By Kirstin Ridley and Eric Onstad LONDON (Reuters) – The head of the London Metal Exchange spent just 20 minutes on his mobile phone scrolling for news and watching nickel prices lurch higher last year before deciding the market was disorderly and later halting trading, according to a High Court document. The updated filing was …

Exclusive-LME CEO urged nickel trading halt minutes after waking up -court document Read More »

WASHINGTON (Reuters) – European Commission President Ursula von der Leyen said that she agreed with President Joe Biden during a meeting at the White House on Friday to have a dialogue concerning incentives to the clean technology industry. Describing her meeting with Biden as “very good,” von der Leyen said they agreed to work on …

EU’s von der Leyen says she and Biden agreed to dialogue on clean tech Read More »