One of Silicon Valley’s top banks fails; assets are seized
NEW YORK (AP) — Regulators have seized the assets of one of Silicon Valley’s top banks, marking the largest failure of a U.S. financial institution since the height of the financial crisis almost 15 years ago. Silicon Valley Bank was the nation’s 16th-largest bank. It failed after depositors hurried to withdraw money this week amid anxiety over the bank’s health. It was the second biggest bank failure in U.S. history after the collapse of Washington Mutual in 2008. The bank served mostly technology workers and venture capital-backed companies, including some of the industry’s best-known brands.
Why would Russia use hypersonic missile to strike Ukraine?
The latest Russian missile barrage against Ukraine’s civilian infrastructure was one of the largest in months. On Thursday, Russia fired over 80 missiles in a massive effort to overwhelm Ukrainian air defenses and cripple the country’s energy facilities. Russia has been launching similar strikes since October in a bid to demoralize the population and force the Ukrainian government to bow to the Kremlin’s demands. Thursday’s strikes differed from earlier attacks, though, by including a larger number of sophisticated Kinzhal missiles that are the most advanced weapons in the Russian arsenal. But just like previous barrages it has failed to cause lasting damage to the country’s embattled energy system, with repair crews quickly restoring power supplies to most regions.