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Parent company of Silicon Valley Bank files for bankruptcy

The parent company of Silicon Valley Bank has filed for Chapter 11 bankruptcy protection

The parent company of Silicon Valley Bank has filed for Chapter 11 bankruptcy protection. The move comes a week after the tech-focused bank failed in a sudden collapse that set off fears of wider problems in the global banking system. The filing on Friday from SVB Financial Group was widely expected. Much of the company is now under the control of banking regulators. The bank was seized last week by the federal government. In other developments, the bank and two of its executives were targeted in a class action lawsuit that claims the company did not disclose the risks that future interest rate increases would have on its business. Read moreParent company of Silicon Valley Bank files for bankruptcy

Taylor Moore has shot 67 to win the Valspar Championship. He made key birdies on the 15th and 16th holes at Innisbrook. And he avoided the mistakes that cost Adam Schenk and Jordan Spieth. The victory sends the 29-year-old Moore to the Masters with his first PGA Tour victory. Schenk was tied for the lead when his drive landed next to a tree on the final hole, leading to a bogey. Spieth was tied for the lead until hitting his drive into the water on the 16th. Spieth also missed a 6-foot birdie putt to get back in the mix. Read moreMoore delivers surprise, tops Spieth, Schenk at Innisbrook

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