Funds

Regulators found a solution for SVB bank depositors and potentially averted a widespread regional bank run.But the long-term crisis for financing innovation in the wake of the Silicon Valley Bank implosion is just beginning.From the Rust Belt to the U.K., Egypt and Nigeria, the bank's role in financing innovation was critical to economic growth.A U.S. flag flies outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023. Brian Snyder | ReutersIn the short-term, regulators have found a solution for Silicon Valley Bank depositors and, we hope,...

WASHINGTON (AP) — The U.S. has begun an aggressive new push to inflict pain on Russia’s economy and specifically its oligarchs with the intent of thwarting the Kremlin’s invasion of Ukraine. From the Treasury Department to the Justice Department, U.S. officials will focus on efforts to legally liquidate the property of Russian oligarchs, expand financial penalties on those who facilitate the evasion of sanctions, and close loopholes in the law that allow oligarchs to use shell companies to move through the U.S. financial system. Andrew Adams, who heads the U.S....

The National Audit Office (NAO) raised concerns that accounts are at risk of becoming forgotten or lost track of by those holding them.It said estimates indicate that more than one-quarter of CTFs have remained untouched for a year or more after their owners turned 18.A CTF is a long-term tax-free savings account for children born between September 1 2002 and January 2 2011, which they can access when they turn 18.The government paid more than £2 billion into CTFs for 6.3 million children born during this period. Most children received...