Latest from Banking and finance

SVB collapse: Insiders see three major knock-on effects for NZ

A number of NZ firms have direct exposure. Insiders also see flow-on effects for all.

SVB collapse: Fed announces emergency lending facility to shore up US banks

Financial Times: All depositors of tech lender SVB can access their money.

Another American bank shut down days after SVB collapses

A third US bank has toppled as the financial disaster deepens.

The spectacular unravelling of the tech industry’s banker

Financial Times: While collapse happened quickly, problems had been festering for years.

No bailout for Silicon Valley Bank, says Treasury Secretary

Officials rule out intervention in second biggest bank failure in US history.

SVB collapse: UK finance minister scrambles to protect tech sector

Financial Times: Executives demand Downing Street step in, warn of "existential threat".

Rocket Lab has US$38m invested in collapsed Silicon Valley Bank

Kiwi space company Rocket Lab has an exposure to Silicon Valley Bank.

'Black swan failure': Crypto group Circle admits $5.4b exposure

Financial Times: Stablecoin’s value drops as crypto market reels from US bank failures.

China sets 5 per cent growth target to drive economic recovery

Financial Times: Xi Jinping seeks to restore pre-pandemic levels of growth.

Philip Morris’ CEO on quitting smoking and detoxifying the brand

Financial Times: Boss says tobacco group shifting from cigarettes to ‘healthy solutions’.

Reinvigorated scams set to target tax season

To everything, including scams, there is a season.

Beijing in crisis as China faces a child-free future

The Telegraph: A shrinking population could halt Beijing's ascendance.

Who to fire? How the biggest companies plan mass lay-offs

Financial Times: Employers need to avoid lasting damage to morale as they axe jobs.

How a robot could help you get a home loan

Microsoft boss says ChatGPT could be used to help bankers.

ChatGPT being used by cybercriminals to generate scams, Norton warns

The chatbot could be used to impersonate your bank.

ASB, Heartland, Watercare, staff claim $250,000-plus from insolvent baking business

Bakery said it had failed to recoup costs due to Covid-19 lockdowns.