As SVB Financial Group wrestled with a capital shortfall and the prospect of a downgrade to its credit rating last week, it went to Goldman Sachs Group Inc and worked out an unusual two-part plan, according to people familiar with the discussions. The investment bank would buy a $21.5 billion bond portfolio from SVB to […]
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The creation and subsequent application of blockchain technology in several sectors have bridged various gaps. Despite the technology still being in its primitive phase, people seem to think it is a miracle solution to every human error and want to tailor a place for it to go in every department. One such department is supply […]
The world order is rapidly changing, and it seems that China is making a bid for global dominance through its ambitious infrastructure development program, the Belt and Road Initiative (BRI). As China invests billions of dollars in infrastructure projects in more than 100 countries, including some of the world’s poorest and least developed nations, the […]
The series of advancements happening in the metaverse can serve as an announcement for the people to know that the switch to the metaverse is not a matter of if but simply a matter of when. While every sector is figuring out how to jump into the metaverse, one industry has it all figured out. […]
New York-based quantum computer startup SEEQC said on Wednesday it has developed a digital chip that can operate at temperatures colder than outer space so it can be used with quantum processors that are often in cryogenic chambers. Quantum computers, based on quantum physics, have the potential one day to complete some calculations millions of […]
The Biden administration on Wednesday is launching an effort to identify significant wireless spectrum that can be repurposed for advanced technology needs and soaring U.S. wireless demand. The Commerce Department’s National Telecommunications and Information Administration (NTIA) is developing a National Spectrum Strategy with a goal to identify at least 1,500 megahertz of spectrum to study […]
South Korea’s willingness to resolve historical disputes in the name of improving relations with Japan is largely driven by concerns over North Korea’s growing capabilities, and managing any rivalry with China, officials and analysts say. South Korean President Yoon Suk Yeol will visit Tokyo on Thursday for a summit with Prime Minister Fumio Kishida, the […]
NASA on Tuesday said it had picked U.S. rocket builder Firefly Aerospace to put a lander on the moon’s far side in 2026, under a nearly $112 million contract. “The commercial lander will deliver two agency payloads, as well as communication and data relay satellite for lunar orbit, which is an ESA (European Space Agency) […]
South Korean tech giant Samsung Electronics expects to invest $230 billion over the next 20 years to develop what the country’s government called the world’s largest chip-making base, in line with efforts to boost the national chip industry. Samsung’s around 300 trillion won project is part of a 550 trillion won private-sector investment plan unveiled […]
SVB Financial Group said on Tuesday that Goldman Sachs Group Inc was the acquirer of a bond portfolio on which it booked a $1.8 billion loss, a transaction that set in motion the failure of SVB. The loss on the portfolio was the reason SVB, a technology-focused lender known as Silicon Valley Bank, attempted a […]