Tuesday , November 26 2024

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Silicon Valley Bank’s demise began with downgrade threat

Silicon Valley Bank's demise began with downgrade threat

In the middle of last week, Moody’s Investors Service Inc delivered alarming news to SVB Financial Group, the parent of Silicon Valley Bank: the ratings firm was preparing to downgrade the bank’s credit. That phone call, described by two people familiar with the situation, began the process toward Friday’s spectacular …

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Pomelo prices down, farmers eye switch to other fruits

Pomelo prices down, farmers eye switch to other fruits

Farmers in Vietnam’s main pomelo growing area, the Mekong Delta province of Ben Tre, are earning no profits from the fruit since prices have fallen sharply over the last two years. Traders have been paying farmers VND15,000-21,000 (US$0.6-0.9) per kilogram during the period, down from VND40,000-50,000 in previous years. Earlier …

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