you will see over the oval office now there is a us flag and the british flag in recognition of the meeting. we british flag in recognition of the meetinu. ~ , ., british flag in recognition of the meetin.. , . meeting. we can see a door opening and a door closing. meeting. we can see a door opening and a door closing. he meeting. we can see a door opening and a door closing. he is meeting. we can see a door opening and a door closing. he is going - meeting. we can see a door opening and a door closing. he is going on. l and a door closing. he is going on. a cuick and a door closing. he is going on. a quick nod and a door closing. he is going on. a quick nod to and a door closing. he is going on. a quick nod to the and a door closing. he is going on. a quick nod to the press and a door closing. he is going on. a quick nod to the press and - and a door closing. he is going on. a quick nod to the press and he . and a door closing. he is going on. a quick nod to th
trouble in the valley? financial stocks slump as investors move to withdraw their deposits from silicon valley bank, a key lender to start ups. and the uk grows more healthily than expected injanuary but the government warns there s still a long way to go to restore stability. welcome to world business report, i m tadhg enright. we start in the us with a story causing some worries on financial markets. silicon valley bank has been trying to reassure its clients their money is safe after a 60 per cent collapse in its share price since wednesday. svb has been a key lender to many tech start ups the likes of airbnb and linkedin but questions have been raised about its financial health after it launched a huge share sale to raise money. joao da silva has the details. svb dropped massively overnight as the bank revealed it lost $1.8 billion and the folio of securities valued at around $21 billion. as a result of those losses, the bank was forced to rage cash by a huge share sa
we will have more from anna on that story later. the uk government has suspended engagement with one of the country s leading business groups the cbi pending an investigation into allegations of sexual misconduct and drug abuse at the lobbying group. let s get the latest on this from our business editor simonjack. just talk to us about the allegations. they have been around this week, but today was quite a landmark moment in the uk government, saying, hang on, until you fix this, we don t want any part of it? ~ ., you fix this, we don t want any part of it? ~ . ,. ., you fix this, we don t want any part of it? ~ . , , ., of it? what i discovered earlier this morning of it? what i discovered earlier this morning is of it? what i discovered earlier this morning is that of it? what i discovered earlier this morning is that the - of it? what i discovered earlier i this morning is that the treasury, everyone from the chancellor, to ministers, to all officials down at hmt
first quarter. its revenues though, fell around 5% as the industry faces up to a supply glut. tsmc remains asia s most valuable listed company, despite a fall in its share price by over quarter last year. the company is under pressure as some western economies seek to diversify their semi conductor supply chains. let s cross live now to malcolm penn, a global semi conductor industry analyst and ceo of future horizons. thank you for being with us. talk to me, first of all, but these figures. not as great as expected, but given what is happening in the industry, a good performance? the what is happening in the industry, a good performance? good performance? the industry is notoriously good performance? the industry is notoriously cyclical, good performance? the industry is notoriously cyclical, it good performance? the industry is notoriously cyclical, it does - good performance? the industry is notoriously cyclical, it does go - notoriously cyclical, it does go through
let s start here in the uk where the new chancellor has been holding crunch talks with the prime minister on sunday to thrash out plans on tax and spending. jeremy hunt says his focus is on growth underpinned by stability. the value of the pound has gone up against the dollar in early trading today in asia. we will look at the market numbers in a moment because the new chancellor has the tough task of restoring economic credibility in the financial markets. our international trade correspondent dharshini david explains some of the tough challenges he faces. as international trading resumed for the first time after the chancellor wrapped up an economic strategy launched just one month ago, but his version, will it reassure other financial markets? let s look at those challenges, because this is the cost of new government borrowing, as dictated by the bond markets, which also impact mortgage rates. that rate remained high on friday then it was prior to september s mini budget.