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US Fed projects ‘mild’ recession this year over banking turmoil

Staff economists at the United States Federal Reserve (Fed) have projected that the recent banking turmoil will trigger a “mild recession” later this year. Following a crisis of confidence in banks,

‘A lifesaver to tech firms’ — HSBC acquires UK subsidiary of failed Silicon Valley Bank

HSBC Holdings Plc, a swiss private bank, has acquired Silicon Valley Bank UK Limited (SVB UK) for £1 ($1.2) SBV UK is a subsidiary of Silicon Valley Bank, a financial

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