germany say police spoke to the suspect in thursday s hamburg shooting a month before the attack. one of the strongest storms ever recorded in the southern hemisphere hits mauritius and madagascar twice and is now heading for mozambique for the second time. it may have broken the record as the longest lasting cyclone in history on record, it s been a named tropical cyclone now also 33 days. we start in the us, and regulators have shut down silicon valley bank, a major lender to tech companies after it ran into financial trouble. concerns triggered a sell off on global financial markets. it is the largest banking failure in the us since 2008. james clayton has been explaining how it happened. this will go down in silicon valley history, certainly one of the most stressful days for silicon valley founders in modern times. we have spoken to people today who have been able to withdraw their money from silicon valley bank, and some who haven t. one person i spoke to said they put
millions of dollars to deal with illegal channel crossings. hello and welcome to bbc news. start in the us where regulators have shut down silicon valley bank, one of the major lenders to tech companies and start ups. in one of the largest banking failures in the us since the 2008 financial crisis. tech correspondent jane clinton has explained how it happened. but forjames. this is one of the days that will go down in silicon valley history and it certainly one of the most stressful days for silicon valley founders in modern times. we spoke to people today who have been able to withdraw their money from silicon valley bank and some haven t. one person put in a wire request yesterday and waited nearly 2a hours and eventually found out they got the money out but another person says they have tried and tried and tried and have not been able to withdraw any funds and say they physically came down to one of these branches to try and get these branches to try and get the money out.
sure the about china and russia, and making sure the uk about china and russia, and making sure the uk can defend itself. but an awful sure the uk can defend itself. but an awful lot of money is involved in this, an awful lot of money is involved in this, i an awful lot of money is involved in this, ithink an awful lot of money is involved in this, i think £10 billion has been recommended for the nuclear warheads. and i think of few eyebrows will be raised by this, wondering if this is the best use of those wondering if this is the best use of those funds. wondering if this is the best use of those funde wondering if this is the best use of those funds- wondering if this is the best use of those funds. also, rosa, looking at a warnin: those funds. also, rosa, looking at a warning by those funds. also, rosa, looking at a warning by 2030 those funds. also, rosa, looking at a warning by 2030 of those funds. also, rosa, looking at a warning by 2030 of a those
crash and they have been parallels but it s quite a different scenario? well, if ou different scenario? well, if you look different scenario? well, if you look at different scenario? well, if you look at the different scenario? well, if you look at the liquidity - you look at the liquidity problems that they had, part of thatis problems that they had, part of that is the ability to attract deposits cheaply and aggressively in a digitally oriented world and money moves fast these days, as can be seen by the problems that svp encountered when the vc started to talk about. eff: encountered when the vc started to talk about. . . to talk about. vc being venture to talk about. vc being venture capitalists, - to talk about. vc being venture capitalists, so i venture capitalists, so investors and companies? correct. investors and companies? correct, ., investors and companies? correct- investors and companies? correct. ., , correct. so you are saying they were worried? correct. so
true of deposits. we have seen that in markets like china. banks still relying on older distribution methods have difficulties raising deposits as they did in the past. people at home might as they did in the past. people at home might be as they did in the past. people at home might be worried - as they did in the past. people at home might be worried this| at home might be worried this is a wider indication of what s going on in the finance industry. we have a time now when federal reserve in the us, the central bank, looking to raise interest rates further, after a period of ultralow interest rates. after a period of ultralow interest rates. . .- after a period of ultralow interest rates. should people be worried? interest rates. should people be worried? well, interest rates. should people be worried? well, if interest rates. should people be worried? well, if you - interest rates. should people be worried? well, if you look l be worried? well, if you look at the number of