PNC Financial Services Group (NYSE: PNC) has decided not to bid on Silicon Valley Bank (NASDAQ: SIVB) after holding initial discussions with the Federal Deposit Insurance Corp (FDIC) and conducting due diligence,
Binance (CRYPTO: BNB) CEO Changpeng Zhao, popularly known as “CZ” in the cryptocurrency community, has raised concerns over the recent shutdown of cryptocurrency-friendly banks, stating that it feels like there is a coordinated effort by the U.S.
One of the most anticipated electric vehicles of all-time is the Cybertruck from Tesla Inc (NASDAQ: TSLA). The new electric pickup truck will put Tesla in increased competition with several traditional automotive companies for a sector that sees strong annual sales.
The collapse of SVB Financial Group (NASDAQ: SIVB) could have a ripple effect on the technology and biotech industries, the two largest sectors that had deposits and financial relationships with the company’s Silicon Valley Bank.
The week was marred by negative headlines surrounding electric vehicle companies, and, unsurprisingly, a number of EV stocks ended deep in the red.
Here are several key events that happened during the week: