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Regret and blame in Silicon Valley after bank run
Regret and blame in Silicon Valley after bank run
Business and Economy
by  AFP

The nearly overnight collapse of Silicon Valley Bank has left the US tech scene in shock, wondering how one of its most valued institutions could vanish so suddenly, shunned by the companies that used it most. "I think the ripple effects of this in Silicon Valley are going to be felt for the next decade," Ives said. arp-juj-leb/caw/dw

California court upholds Uber drivers being contractors
California court upholds Uber drivers being contractors
Business and Economy
by  AFP

A California appeals court on Monday upheld a state law letting Uber, Lyft and other app-based, on-demand companies treat drivers as independent contractors rather than employees. The labor legislation heavily backed by Uber, Lyft and other app-based, on-demand services effectively overturned a California law requiring them to reclassify their drivers and provide employee benefits.

Customers calm at under-pressure US banks
Customers calm at under-pressure US banks
Business and Economy
by  AFP

Customers of under-pressure US banks said Monday they were reassured after authorities stepped in to protect deposits, even as markets fretted about systemic contagion. Governments in Europe and the United States have moved to reassure markets that the world is not in for a repeat of the 2008 financial crisis, when the global banking system seized up.