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SVB Financial Group, the parent company of Silicon Valley Bank, has filed for Chapter 11 bankruptcy one week after its subsidiary failed andwas seized by U.S. regulators.The filing comes after SVB Financial was targeted by shareholders with aclass action lawsuitMonday, alleging the company did not disclose how future interest rate hikes could potentially impact the business.The company said in astatementthat SVB Securi stanley cups ties and SVB Capital are not incl stanley termos uded in the bankruptcy filing and will continue to operate while the company explores strategic alternatives. SEE MORE: What led to the collapse stanley cups of Silicon Valley Bank and others The Chapter 11 process will allow SVB Financial Group to preserve value as it evaluates strategic alternatives for its prized businesses and assets, especially SVB Capital and SVB Securities, said William Kosturos, Chief Restructuring Officer for SVB Financial Group. SVB Capital and SVB Securities continue to operate and serve clients, led by their longstanding and independent leadership teams. SVB Financial has an estimated $2.2 billion of liquidity, approximately $3.3 billion in debt, and $3.7 billion in outstanding preferred equity, according to the sta Fugv Motorcyclist killed in 3-vehicle crash on southbound I-35
WASHINGTON, D.C. 鈥?The White House announced Wednesday that its on track to quadruple the nations supply of rapid, at-home COVID-19 tests available by December, and it s increasing the number stanley tumbler of places Americans can acces stanley kaffeebecher s free testing.The Biden administration said it plans to buy $1 billion worth of rapid, at-home coronavirus tests to help address ongoing shortages. Today, were making another billion-dollar investment to further mobilize testing manufacturers. This means companies will be able to expand producti stanley cup becher on of tests even further based on the United States governments commitment to procure another 180 million rapid tests over the course of the next year, with tens of millions more tests coming market over the course of the next 30 days, said Jeff Zients, White COVID-19 Response Coordinator.The U.S. was on track to double its supply of rapid homes tests available in the market each month by early November, but Zients revealed Wednesday that with the authorization of the new ACON test on Monday, the country is now on track to triple its supply by early November. And then todays billion investment to further expand testing production puts us on track to quadruple the amount of