SVB failure: we can bank on more trouble to come

SVB failure: we can bank on more trouble to come
(Image: Getty)
Peter Griffin
I was among those breathing a sigh of relief on Monday when the US government decided to cover depositors with uninsured cash held at the Silicon Valley Bank (SVB). As a contractor for an American tech company that banked with SVB, the prospect of my US colleagues not being able to meet payroll this week was real. But that was nothing compared to the comfort Peter Beck at Rocket Lab would have felt at the news.  The company had US$38 million (NZ$60.9m), or around 8% of its cash, locked up in SVB, which was taken over on Friday by the...

More Opinion

Trans-Tasman sovereign innovation tech power
Opinion

Peter Griffin: Trans-Tasman sovereign innovation tech power

It's time to talk about how we join forces to develop sovereign tech capability.

Peter Griffin 21 May 2025
ComCom dithering over Manawa deal
Markets

Paul Ridley-Smith: ComCom dithering over Manawa deal

Negative messaging over straightforward deal left shareholders guessing.

Budget 2025: Clip rumoured for KiwiSaver’s wings
Opinion

David Chaplin: Budget 2025: Clip rumoured for KiwiSaver’s wings

Axeing the member tax credit or bringing in means testing are among the possible changes.

David Chaplin 20 May 2025
Frantic property flipping a worry
Opinion

Maria Slade: Frantic property flipping a worry

What's to stop the practice driving up prices and disadvantaging genuine homeowners?

Maria Slade 19 May 2025