HSBC Rescues SVB’s U.K. Arm As Bank Collapse Fallout Spreads Beyond U.S.

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HSBC on Monday announced it was acquiring the U.K. arm of failed Silicon Valley Bank (SVB), throwing a much needed lifeline to the country’s tech and life sciences sectors and ending a frenzied weekend of negotiations, as officials and industry leaders rush to contain fallout from the largest U.S. banking failure since the 2008 financial crisis.

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