The U.S. Federal Deposit Insurance Corporation (FDIC) will take the plight of community banks into account when charging financial institutions a “special assessment fee” to cover recent losses incurred over the U.S. banking crisis, the FDIC’s head told lawmakers in a hearing on Wednesday. The special assessment fee, which is required by law, will help […]
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The European Union enters the final stage of tense talks over how to treat hydrogen produced using nuclear power on Wednesday, in an effort to end a dispute that threatens to thwart a deal on more ambitious renewable energy goals. Negotiators from EU countries and the European Parliament are meeting to reach a deal on […]
The White House is preparing to release more of its promised plans to strengthen U.S. bank oversight as soon as this week after Silicon Valley Bank’s collapse of earlier this month, according to a person familiar with the preparations. President Joe Biden, a Democrat, is expected to push for rules to be reinstated for banks […]
The U.S. Treasury Department’s long-awaited guidance on battery sourcing requirements for electric vehicle tax credits due out by Friday will result in fewer vehicles getting full or partial credits, a U.S. official told Reuters. In December, Treasury decided not to issue the proposed guidance on battery sourcing rules until March, effectively giving some EVs not […]
Elon Musk and a group of artificial intelligence experts and industry executives are calling for a six-month pause in developing systems more powerful than OpenAI’s newly launched GPT-4, in an open letter citing potential risks to society and humanity. Earlier this month, Microsoft-backed OpenAI unveiled the fourth iteration of its GPT (Generative Pre-trained Transformer) AI […]
Microsoft-backed OpenAI is no longer the only game in town for software developers looking to capitalize on an expected $90 billion market for artificial intelligence. Motivated by a wariness of relying on a single company, a desire for models tailored to specific tasks and the chance to cut costs, more than a dozen startups and […]
Bullish bitcoin has been a surprise winner of the banking blowout. Yet investors aiming to amp up their bets face an ominous obstacle: a lack of liquidity that could trigger wild price swings. The price of the No.1 cryptocurrency has jumped 40% to around $27,700 since March 10, when the failure of Silicon Valley Bank […]
Two rival alliances of European Union countries held final-hour talks in Brussels on Tuesday, ahead of negotiations on whether to recognise nuclear power under the EU’s renewable energy goals. The stand-off comes a day before EU countries and lawmakers are supposed to agree tougher EU targets to expand renewable energy by 2030 – a key […]
As U.S. banking contagion worries ebb, some investors are hunting for shares of fundamentally strong regional lenders that were swept up in this month’s epic sell-off. Investors sent a record net $236.2 million into the iShares Regional Bank ETF over the last two weeks, after Silicon Valley Bank’s collapse earlier this month fueled concern about […]
Relativity Space could revolutionise space travel with 3D printing. Relativity Space launched its Terran 1, an entirely 3D-printed rocket, from Launch Complex 16 in Cape Canaveral, Florida last Wednesday night. Standing at 110 ft. tall and 7.5 ft. wide, Terran 1 is the largest 3D-printed object to attempt orbital flight. As a two-stage, expendable rocket, […]