Michael Tobin

The US Bureau of Labor Statistics has just confirmed what everyone already knows: Tech companies kept adding workers last year right up until they started cutting them.

(Bloomberg) -- Among venture capitalists, there’s a widening divide between those who say startups would be wise to pull money out of Silicon Valley Bank and those who suggest keeping it there is a moral imperative that could help save the institution.Most Read from BloombergOne Bank Folds, Another Wobbles and Wall Street Asks If It’s a CrisisPeter Thiel’s Founders Fund Advises Companies to Withdraw Money From SVBCompanies Are Telling Us the Real Reason They're Still Raising PricesWhy Is Everyon

A few banks benefited from some startups that withdrew funds from the now-failed Silicon Valley Bank

What was Silicon Valley Bank to the world of startups and venture capital? Practically everything.

Conceived over a poker game between two of its founders nearly 40 years ago, Silicon Valley Bank grew into the single most critical financial institution for the nascent tech scene.

Some startup founders and venture capitalists were finally starting to regain access to their accounts at Silicon Valley Bank on Monday morning.

Diamond Sports Group LLC’s Chapter 11 bankruptcy last week will trigger a payout on the company’s credit default swaps after the the filing was ruled a credit event.

Carvana Co. said it’s offering to exchange up to $1 billion of bond principal at below-par prices as the struggling online car seller works to restructure its debt load.

Telecommunications company Casa Systems Inc. is dangling a yield of more than 11% to prospective investors to extend its term loan B, and the rate could get even sweeter in the coming years.

The US will avoid a default on its debt after the Senate passed legislation suspending the debt ceiling, with the deal now moving to President Joe Biden for approval.