SVB Financial Group CEO To Participate In Virtual Fireside Chat At 2021 Morgan Stanley Technology, Media And Telecom Conference

Bloomberg
Sea Predicts Sales Doubling as Online Shopping Boom Persists
(Bloomberg) -- Sea Ltd. expects e-commerce revenue to double in 2021, sustaining its torrid pace of growth as Southeast Asia’s most valuable company counts on regional online shopping demand to persist after the pandemic.Revenue rose to $1.6 billion in the last three months of 2020 from $777.2 million a year earlier, Singapore-based Sea said Tuesday in a statement. Net loss widened to $523.6 million from $283.8 million.Sea, backed by Tencent Holdings Ltd., has emerged as a stock-market sensation since its initial public offering in New York in 2017, as investors bet the company can establish itself as a leader in e-commerce and gaming in Southeast Asia. Among companies valued at $100 billion or more, the stock is the No. 1 performer in Asia since the start of last year and only trails Tesla Inc. globally.It’s also trying to establish fintech as a third growth driver. Sea said Tuesday it’s acquired Composite Capital Management, a Hong Kong-licensed global investment management firm. The company will deploy $1 billion toward Sea Capital, a newly established platform to manage its overall investments. Composite Capital founder David Ma -- a former partner at Chinese private equity giant Hillhouse -- becomes Sea Capital’s chief investment officer, reporting to Sea Chief Executive Officer Forrest Li.“Sea’s growth prospects remain promising, riding on the growing digital economy in the region,” Citigroup analysts led by Alicia Yap wrote. “Guidance could prove conservative.”Read more: Asia’s Best-Performing Stock Gets to Justify 400% SurgeKey InsightsThe pandemic is helping to spur demand at Sea’s e-commerce business Shopee, with fourth-quarter sales increasing 178% to $842.2 million. Sea forecast 2021 revenue at Shopee of $4.5 billion to $4.7 billion, up from $2.2 billion in 2020.Hit mobile game Free Fire is fueling growth at Sea’s digital entertainment service Garena, whose sales last quarter rose 71.6% to $693.4 million. Sea forecast Garena’s annual bookings -- sales plus changes in deferred revenue -- will increase to $4.3 billion to $4.5 billion in 2021.Its e-wallet service gained traction, with payment volume exceeding $2.9 billion for the quarter and $7.8 billion for the full year. Sea is trying to build financial services into its third growth pillar.Get MoreSea Ltd 4Q Adjusted Ebitda Misses EstimatesFourth-quarter sales and marketing expenses climbed 95% to $665.2 million, led by digital financial services.For 2020, Sea posted total digital entertainment bookings of $3.2 billion.Annual revenue at Garena rose 77.5% to $2 billion.Market ReactionSea’s American depositary receipts ended mostly unchanged after surging as much as 11% Tuesday.(Updates with fund’s chief and analyst’s comment from the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
3h ago
Bloomberg
OPEC+ Is Poised to Cool Down Oil Market With Extra Production
(Bloomberg) -- OPEC+ is poised to agree a production increase this week as it seeks to cool a rapid rally in crude prices.There’s a widespread view within the group that the market can absorb additional barrels, according to people familiar with the deliberations. While the usual differences are present -- with Saudi Arabia cautious and Russia keen to open the taps -- all sides are ready to increase production, they said, asking not to be named because the information was private.That could put the group on track to implement the majority of the 1.5 million barrel-a-day output increase that’s up for debate on Thursday.An agreement to hike OPEC+ supply would be the latest sign that the global economy is recovering from the damage wrought by the coronavirus pandemic. The cartel has endured a year of pain, dominated by the deepest output cuts in its history. But the sacrifice has paid off, reviving oil prices back to pre-crisis levels above $60 a barrel.“Both the global economic outlook and oil market prospects show signs of continued improvement,” OPEC Secretary-General Mohammad Barkindo said at the opening of a meeting of the group’s technical experts on Tuesday. “The headwinds of uncertainty that shocked and disrupted the market last year continue to abate.”Brent crude fell in London for a fourth-straight session on Tuesday, dropping 1.6% to $62.70 a barrel. The global oil benchmark was still more than 20% higher for the year.There are two distinct elements to the production increase that the Organization of Petroleum Exporting Countries and it allies will debate this week.First, will the cartel proceed with a 500,000 barrel-a-day collective output hike in April? Second, how will Saudi Arabia phase out the extra supply reduction of 1 million barrels a day it’s been making voluntarily in February and March?Robust DemandRussia has been the most consistent advocate for the 500,000 barrel-a-day increase, and other members now largely agree that it should go ahead, according to people familiar with the matter.The top oil executive from the United Arab Emirates, which has also supported output hikes at recent OPEC+ meetings, gave a bullish assessment of the market on Tuesday.“Oil demand is robust,” Sultan Al Jaber, the chief executive officer of Abu Dhabi National Oil Co., said at the IHS Markit Ltd. CERAWeek virtual conference. “Demand will rise to above pre-Covid levels by the end of this year.”Adnoc has already signaled it’s preparing to open the taps, allocating customers greater volumes of Murban, Das and Upper Zakum crudes for April compared with March.Saudi ChoiceSaudi Arabia always said that its voluntary supply reduction would only last for two months, but seasoned OPEC-watchers have suggested that Riyadh could phase it out gradually.The kingdom will start to roll back its extra cut as planned in April, but is still discussing internally whether to return all of the barrels in a single month, or over a longer period, said people familiar with the deliberations. The decision will take into account the commissioning of the new 400,000 barrel-a-day Jizan refinery, which could affect both domestic crude consumption and exports, they said.At CERAWeek, Saudi Aramco CEO Amin Nasser struck a more cautious tone than his counterpart from the UAE, predicting strong demand in the second half of 2021, and a return to pre-Covid consumption next year.Whatever the Saudis decide, the global oil market is poised to receive its biggest supply boost since August, when OPEC+ first began the process of tapering the 9.7 million barrel-a-day cut agreed in April last year as the pandemic crushed demand.The group appears to think the market is ready for it. Even if OPEC+ boosts production by 2.4 million barrels a day between February and June -- the maximum amount allowed under the current deal -- it will still be able to clear the remnants of the 2020 supply glut by August, the secretariat’s analysts predicted on Tuesday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
4h ago
Bloomberg
A $21 Trillion Treasuries Mystery Is Bedeviling Global Markets
(Bloomberg) -- Bond traders have been saying for years that liquidity is there in the world’s biggest bond market, except when you really need it.Last week’s startling gyrations in U.S. Treasury yields may offer fresh backing for that mantra, and prompt another bout of soul-searching in a $21 trillion market that forms the bedrock of global finance. While stocks are prone to sudden swings, such episodes are supposed to be few and far between in a government-debt market that sets the benchmark risk-free rate for much of the world.Yet jarring moves keep occurring periodically in Treasuries, with some market participants pointing to heightened bank regulations in the wake of the 2008 financial crisis. Scrutiny over liquidity shortfalls intensified in October 2014 when a 12-minute crash and rebound in yields happened with no apparent trigger. Panic selling during the pandemic-fueled chaos a year ago, exacerbated when hedge funds’ leveraged wagers blew up, brought the issue to the fore again. And then came last week, when the gap between bid and offer prices for 30-year bonds hit the widest since the panic of March 2020.The latest events “are a stark reminder what happens when liquidity suddenly vanishes in the deepest, largest bond market,” said Ben Emons, managing director of global macro strategy at Medley Global Advisors.At issue is whether this vast market is more vulnerable to sudden bouts of turbulence thanks to measures that have made it more difficult for banks to hold Treasuries. Some analysts say the tumult last week was magnified by questions over whether the Federal Reserve will extend an easing of bank capital requirements, which is set to end March 31. Put in place early on in the pandemic, the measure is seen as making it easier for banks to add Treasuries to their balance sheets.The 2014 episode triggered a deep dive into the market structure, and regulators have pushed through some changes -- such as increased transparency -- and speculation has grown that more steps to bolster the market’s structure may be ahead.“While the scale and speed of flows associated with the COVID shock are likely pretty far out in the tail of the probability distribution, the crisis highlighted vulnerabilities in the critically important Treasury market that warrant careful analysis,” Fed Governor Lael Brainard said Monday in prepared remarks to the Institute of International Bankers.There are plenty of potential culprits in last week’s bond-market tumble -- which has since mostly reversed -- from improving economic readings to more technical drivers. Ultra-loose Fed policy and the prospect of fresh U.S. fiscal stimulus have investors betting on quicker growth and inflation. Add to that a wave of convexity hedgers, and unwinding by big trend-following investors -- such as commodity trading advisers.For Zoltan Pozsar, a strategist at Credit Suisse, the action began in Asia with bond investors reacting to perceived hawkish signs from the central banks of Australia and New Zealand. That sentiment then carried over into the U.S. as carry trades and other levered positions in the bond market were wiped out. A disastrous auction of seven-year notes on Thursday added fuel to the unraveling.Last week’s drama “brings to mind other notable episodes in recent years in which a deterioration in the Treasury market microstructure was primarily to blame,” JPMorgan & Chase Co. strategist Henry St John wrote in a note with colleagues.One key gauge of Treasury liquidity -- market depth, or the ability to trade without substantially moving prices -- plunged in March 2020 to levels not seen since the 2008 crisis, according to data compiled by JPMorgan. That severe degree of liquidity shortfall didn’t resurface last week.The bond-market rout only briefly took a toll on share prices last week, with equities surging to start this week, following a sharp retreat in Treasury yields amid month-end buying.The Fed cut rates to nearly zero in March 2020, launched a raft of emergency lending facilities and ramped up bond buying to ensure low borrowing costs and smooth market functioning. That breakdown in functioning has sparked calls for change from regulators and market participants alike.GLOBAL INSIGHT: Recovery? Yes. Tantrum? No. Yield Driver ModelFor now, Treasuries have settled down. Pozsar notes that the jump in yields has provided an opportunity for some value investors to swoop in and pick up extra yield, effectively helping offset the impact of the leveraged investors who scrambled for the exits last week.“Some levered players were shaken out of their positions,” Pozsar said in a forthcoming episode of Bloomberg’s Odd Lots podcast. “It’s not comfortable -- especially if you’re on the wrong side of the trade -- but I don’t think that we should be going down a path where we should redesign the Treasury market.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
6h ago
Yahoo Finance
Volvo Cars to double U.S. footprint, as it aims to go all electric by 2030
Volvo Cars’s aggressive push to go all electric by the end of this decade, is expected to expand the company’s U.S. operations significantly over the next several years, according to the President and CEO of Volvo Cars USA.
7h ago
CoinDesk
TaxBit Raises $100M in Bid to Take Crypto Taxation Software Global
The Utah-based startup roared out of stealth mode with backing from Paradigm and Tiger Global.
7h ago
Quartz
Target thinks the future of e-commerce is its stores
Target has built its entire e-commerce business around its stores, which act as a network of nearly 1,900 mini fulfillment centers.
8h ago
BBC
Energy firms overcharged one million switching customers
Households were overcharged by a total of £7.2m when they should have been protected from price rises.
15h ago
FX Empire
Daily Gold News: Tuesday, Mar. 2 – Gold Bouncing From $1,700
The gold futures contract lost 0.34% on Monday, as it fluctuated after breaking below the previous local low and a support level of $1,750. The markets will be waiting for Friday’s monthly jobs data release.
15h ago
Reuters
Wall Street ends lower as Apple and Tesla retreat
Wall Street ended lower on Tuesday, pulled down by Apple and Tesla, while materials stocks climbed as investors waited for the U.S. Congress to approve another stimulus package. Volume on U.S. exchanges was 12.3 billion shares, compared with the 14.9 billion average for the full session over the last 20 trading days.
15h ago
Bloomberg
Mining Deals to Pick Up as World Reopens, Leading Adviser Says
(Bloomberg) -- Deals among cashed-up mining companies are poised to pick up once lingering uncertainties from the pandemic dissipate, according to the most-active investment bank in the industry.Miners are flush with cash and ready to expand through acquisitions, with resurgent demand and supply shortfalls driving up metals prices and company earnings to levels not seen for a decade, according to global metals and mining group co-heads Ilan Bahar and Jamie Rogers of BMO Capital Markets, which is hosting one of the world’s largest mining conferences this week.“History has shown that when there’s positive momentum in commodity prices that tends to drive M&A activity,” Bahar said in an interview ahead of the gathering. “As the world opens up -- if the commodity price remains strong -- we expect M&A to follow.”The deal-making environment is among this week’s topics at the 30th annual global metal and mining conference, which is being held virtually due to ongoing travel restrictions and risks associated with the pandemic. Such Covid-19 issues have already constrained mergers-and-acquisition activity in the past year, even though Bank of Montreal’s investment bank sees plenty of discussions happening.“It feels pretty busy,” Rogers said in the interview, while noting “there’s still that stumbling block of boards and directors trying to get over the hurdle of ‘How can I step out and make a big acquisition without putting boots on the ground?’”Pent-up demand for acquisitions should start to be realized as the world opens up assuming buoyant commodity prices hold up, the co-heads said of the five-day virtual gathering that has attracted a record number of equity investors and presenting companies.“If it weren’t for the travel restrictions associated with Covid -- with this commodity price environment, with this momentum -- we would have seen much more M&A,” Bahar said.The pace and type of deal-making varies by sector, according to the bankers, whose firm advised on 118 takeovers in the past decade and ranks among the top-10 based on total deal value and market share, according to data compiled by Bloomberg.Gold DealsIn gold, which saw a wave of large takeovers in 2019, producers are expected to buy more exploration and development companies to shore up future supply, with shareholders keen to see more consolidation.Among companies involved in industrial metals like copper and nickel, there are fewer players to consolidate. The main decision facing executives and directors is whether to spend the windfall on stepping up development of their own pipeline of projects or to go after complementary assets of other companies.“That’s a real dynamic we’re seeing right now,” Rogers said. “Many of the largest players are awash in cash because of metal prices and they look and say ‘OK, do I look outside or inside for my best returns?’”For now, the answer leans toward the latter, according to Rogers. Battery metals like copper have rallied so much that prices are reaching levels that might encourage companies to build rather than buy, especially as share values soar.Longer term, the industry may undergo further consolidation as it it becomes more expensive to operate and build mines due to declining ore quality and rising environmental and social expectations. “Usually higher prices bring further consolidation. We’ll have to see, but that’s a common trend,” Southern Copper Corp. Chief Financial Officer Raul Jacob said in an interview Monday. “We would expect there will be some consolidation in the future.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
23h ago
The Telegraph
German exports to UK fell 30pc in January
German exports to the UK plunged by almost a third in the first month under post-Brexit trading arrangements, new figures have revealed. The end of the Brexit transition period was blamed by Germany’s official statistics body for a 30pc year-on-year plunge in exports to the UK in January but economists predicted the trade slump will ease. New customs rules for exporters exacerbated a tumble in trade already triggered by the Covid crisis amid complaints of post-Brexit arrangements causing higher costs and delays for businesses. January’s drop compares to a 15.5pc fall in imports from Germany over 2020 but the latest slump in trade was still not as severe as the worst months of the first lockdown. The tumble in German imports at the start of the UK’s life outside the EU was also worsened by many businesses stockpiling in December as Brexit talks went down to the wire. “We expected very weak eurozone exports to the UK for January, in part due to teething problems at the border, but also due to the fact that hoarding had already fulfilled a lot of British demand for European goods,” said Bert Colijn, eurozone economist at ING. “We see a very strong surge in eurozone exports ahead of Jan 1, which confirms that picture.” He predicted a recovery from January’s nadir but warned that “expectations are that longer term trade is weaker than it would have been without Brexit”. British businesses have complained the new trading arrangements have lifted costs and caused delays but the disruption for European exporters could worsen in the coming months when the UK enforces full checks on goods arriving. Rod McKenzie, head of policy and public affairs at the Road Haulage Association, said UK-EU trade had improved in recent weeks but cautioned there are “still substantial underlying problems”. He said phytosanitary checks - measures to stop the entry of plant pests and diseases - being enforced from April risk being a “real stress point” as European firms are not prepared. “Many people don't know about the April changes in Europe and those that do are very concerned about it, and maybe changing their business model accordingly.” More detailed trade data will be released next week with cars, pharmaceutical and medical products, electronics and non-ferrous metals, such as copper and aluminium, the top imports from Germany. Germany is the UK’s second-largest trading partner after the US but Britain imports more from Europe’s largest economy anywhere else. The UK imported £55bn of goods from Germany in 2020 and exported £32bn to the industrial powerhouse, according to the Office for National Statistics. However, UK-German trade has been in decline in recent years and was worsened by the Covid blow. German imports of cars, medical products and non-ferrous metals into the UK have fallen by a third in the last five years. A survey by the British Chambers of Commerce warned last month that half of UK exporters faced difficulty trading with EU businesses after the end of the Brexit transition period. It found that a quarter of UK exports either planned to reduce their EU exports or would not enter its market in the next 12 months. The Government has set up a £20m fund to support small businesses with the changes to trade rules, allowing them to access grants of up to £2,000 for professional advice or training.
1d ago
USA TODAY
Texas electricity provider files Chapter 11 bankruptcy after devastating winter storm, power blackout
Texas power provider Brazos filed for Chapter 11 bankruptcy protection after it racked up bills in massive outages during February's winter storm.
1d ago
Bloomberg
Dublin is Top Brexit Relocation Spot for Finance Firms, EY Finds
(Bloomberg) -- Dublin is the favorite destination for finance firms moving jobs into the European Union after Brexit, according to a study by consultancy EY.Three dozen financial services firms are considering moving some U.K. operations to the Irish capital, or have already done so, the review found. Luxembourg is second, attracting 29 companies in total, followed by Frankfurt, which has drawn 23. Twenty businesses are moving business to Paris, according to EY’s survey of public statements by 222 firms through February.Finance firms have announced that about 7,600 jobs will move from the U.K. to the bloc -- an increase of about 100 since EY’s last tracker, published in October. Almost 1.3 trillion pounds ($1.8 trillion) of assets have also moved, up about 100 billion pounds.Some companies have pulled back from the U.K. as policy makers try to establish how much access to the EU’s markets London will have. Think-tank Bruegel said in 2018 that the City could ultimately lose 10,000 banking jobs and 20,000 roles in the financial services industry.There are other signs that some aspects of London’s decades-long dominance of European finance is eroding. This year, the capital lost its crown to Amsterdam as Europe’s top place to buy and sell stock while traders have shifted some interest-rate swaps out of the U.K.“The push and pull of markets across Europe for business historically led from the U.K. continues,” EY partner Omar Ali said. “Such ongoing uncertainty poses the risk of fragmented markets, which is inefficient and costly for all financial services users and potentially damaging to the global competitiveness of both the UK and EU.”(Updates with comment in final paragraph. An earlier version of the story corrected million to billion in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
21h ago
Yahoo Finance
This closely watched stock market indicator nears a sell signal
The market has been under some pressure, but will it continue? This indicator says maybe.
1d ago
Bloomberg
China ‘Worried’ About Bubbles in Property, Foreign Markets
(Bloomberg) -- China’s top banking regulator said he’s “very worried” about risks emerging from bubbles in global financial markets and the nation’s property sector, sparking fresh concerns about further tightening in the world’s second-biggest economy. Stocks dropped across Asia.Bubbles in U.S. and European markets could burst because their rallies are heading in the opposite direction of their underlying economies and will have to face corrections “sooner or later,” Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission and Party secretary of the central bank said at a briefing in Beijing on Tuesday.READ MORE: Asian stocks slip as investors weigh impact of bond yields and China’s asset-bubble warningChina’s financial regulators are walking a fine line of trying to curb risks at home while limiting disruptions from abroad as the economy opens wider to foreign capital. The CBIRC vowed in January to stay “ahead of systemic risks,” after capping bank lending to the property market, slashing shadow banking activities and claiming victory in unwinding a wild expansion in peer-to-peer lending.“China’s monetary policy has not been as easy as the U.S. and Europe,” said Steven Leung, executive director at Uob Kay Hian (Hong Kong) Ltd. “This latest comment will create worry of further tightening.”Asia stocks tumbled and U.S. futures declined on Guo’s comments. The MSCI Asia Pacific Index erased earlier gains of as much as 0.8%. The CSI 300 Index in China fell as much as 1.4% and Hong Kong’s main gauge dropped almost 1%. Chinese government bonds gained from a shift toward haven assets, sending yields on benchmark 10-year notes to a nearly three-week low.“Beijing calling the overseas market rally a bubble won’t help sentiment in Hong Kong stocks, which had been seeing strong inflows from the mainland,” said Castor Pang, head of research at Core Pacific-Yamaichi.Regulators are watching capital inflows into China, where the economy is still growing and interest rates are higher, although the size and speed of such inflows remain controllable at the moment, Guo said.China’s top financial regulator also weighed in on the fintech sector, saying platforms that offer banking services must comply with the same capital requirements as traditional lenders to curb risks. The regulator has set different deadlines for each type of service, with the longest grace period of no more than two years, Guo said, without elaborating.Guo also said bubbles in China’s property market remain relatively big, with many people buying homes for investment or speculative purposes, which is “very dangerous.”A strong economic recovery, combined with a credit surge and a renewed fear of missing out have stoked buyer enthusiasm across China’s largest cities despite stricter curbs this year. Authorities have responded with a slew of policies to fine tune the industry, including a new mechanism on bank lending for real estate and fresh land-bidding rules designed to curb high-flying land costs.Still, home prices in the secondary market, which faces less government intervention, gained the most in 18 months in January, official data showed last week. Existing-home prices of certain popular projects in Shanghai surged more than 30% last year, according to China Real Estate Information Corp.“Guo’s comment reflects that Beijing wants a very stable financial market,” said Linus Yip, a strategist at First Shanghai Securities. “Stabilization is the ultimate goal of its monetary policy.”Other comments from Guo:China lending rates are likely to rebound this yearFinancial firms in Hong Kong not bound by U.S. sanctionsChina supports more Chinese firms listing in Hong KongReaction: Here’s What Analysts Are Saying on China’s Concern Over Bubbles(Updates with chart)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
22h ago
FX Empire
U.S. Dollar Index (DX) Futures Technical Analysis – Main Trend Changes to Up on Trade Through 91.605
If the upside momentum continues then look for a drive into 91.605, followed by 91.710. We could see a technical bounce on a test of these levels.
16h ago
Yahoo Finance
The truth about Warren Buffett’s investment track record
Warren Buffett, the billionaire head of Berkshire Hathaway, will probably go down as the greatest investor in history.
2d ago
Reuters
Global oil demand recovery, gas growth ahead, say Aramco, Chevron CEOS
The coronavirus pandemic last year wiped out a fifth of worldwide demand for fuel as billions of people stopped traveling and sheltered at home. Global demand for oil has recovered to around 94 million barrels per day (bpd) and could reach 99 million barrels per day (bpd)in 2022, said Aramco CEO Amin Nasser at IHS Markit's online CERAWeek conference. Diesel demand is at or above pre-pandemic levels due to door-to-door deliveries, though jet fuel lags as people avoid long flights, said Chevron CEO Michael Wirth, who spoke on a panel with Nasser.
12h ago
Reuters
Jack Ma loses title as China's richest man after coming under Beijing's scrutiny
Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, a list published on Tuesday showed, as his peers prospered while his empire was put under heavy scrutiny by Chinese regulators. Ma and his family had held the top spot for China's richest in the Hurun Global Rich List in 2020 and 2019 but now trail in fourth place behind bottled water maker Nongfu Spring's Zhong Shanshan, Tencent Holding's Pony Ma and e-commerce upstart Pinduoduo's Collin Huang, the latest list showed.
19h ago
Reuters
China extends lead over U.S. in global patents filings, U.N. says
China was the biggest source of applications for international patents in the world in 2020 for the second consecutive year and extended its lead over No. 2 filer the United States, the U.N. patent agency said on Tuesday. The World Intellectual Property Organization (WIPO), which oversees a system for countries to share recognition of patents, said China filed 68,720 applications last year while the United States filed 59,230. The rate of increase was higher for China with a 16.1% year-on-year increase versus 3% for the United States, it added.
19h ago

Symbol	Last Price	Change	% Change
SIVB SVB Financial Group	521.25	-10.00	-1.88%
SIVBP SVB Financial Group	25.88	+0.19	+0.74%

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SVB Financial Group CEO To Participate In Virtual Fireside Chat At 2021 Morgan Stanley Technology, Media And Telecom Conference

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