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And roblox signs of trouble emerged wednesday when the company announced plans to raise $2 billion to, quote, strengthen its financial position tech companies have been hit hard by layoffs in recent months, and svb indicated it had seen an increase in start-up clients pulling out their deposits in response to the company's ominous announcement, svb shares saw a massive sell-off by thursday morning, prompting the ceo to plead with investors to stay calm. his messages had the opposite effect by the end of thursday, shares had fallen by 60%. >> concerned customers lined up outside of bank locatio...

Correspondent jake ward, correspondent allie raffa. jake, walk us through how officials made the decision to back silicon valley's deposits and what it means for the bank's customers this morning >> reporter: in a sense, lindsey, the government had no choice here. this was an a-rated bank, one with firm financial footing and seems to have made one big bad bet and it all went south. here is how janet yellen described the machinations over the weekend. >> i've been working all weekend with our banking regulators to design appropriate policies to address this situation we want to make sure that t...

Some tories, meanwhile, would like to see tax cuts. 0verall levels are going to be higher than they have in many years. they are uncomfortable with that but there's little sign that the chancellor is looking to cut taxes just now. damian grammaticas, bbc news. prime minister rishi sunak says he recognises the "anxiety" over the collapse of silicon valley bank but his government was working to find a solution that will secure customers' liquidity and cashflow needs. there are warnings that the collapse of the large american bank and its british arm could have a significant impact on tech startâ...

Say they're working hard to find solutions to the collapse of silicon valley bank. it funded thousands of tech start—ups and went bust on friday and was the biggest such failure in the us for 15 years. prime minister rishi sunak says he understands the anxiety and concern that customers must be feeling. the us treasury secretary, janet yellen, said a major bailout was not being considered but she was working closely with banking regulators to respond to the collapse of the bank and protect depositors. whenever a bank, especially one like silicon valley bank with billions of dollars in deposi...

Of thousands of people across the country. we've been hearing from those depositors and other concerned people this weekend. so let me say that i've been working all weekend with our banking regulators to design appropriate policies to address this situation. i can't really provide further details at this time, but what i do want to do is emphasise that the american banking system is really safe and well capitalised. it's resilient. britain's chancellor of the exchequer, jeremy hunt, says this week's budget will focus on trying to help more people get back into work. there'll be help with the ...