The pace of interest rate hikes by major developed and emerging market central banks continued at a healthy clip in March though the scale of rises tapered off somewhat as turmoil in the banking sector clouded the outlook for global growth. March saw six interest rate hikes across eight meetings by central banks overseeing the […]
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The White House on Thursday issued a plan officials say would substantially reduce the risk of another crisis in the banking industry, after U.S. banks failed and a Swiss lender needed a government rescue earlier this month. The plan, which can be accomplished by regulators with their existing powers, mostly would put stricter requirements on […]
The United States and some of its partner countries on Thursday called for strict domestic and international controls to counter the proliferation and misuse of commercial spyware. The joint statement was issued by the governments of Australia, Canada, Costa Rica, Denmark, France, New Zealand, Norway, Sweden, Switzerland, the United Kingdom, and the United States. The […]
U.S. Treasury Secretary Janet Yellen said on Thursday that banking regulation and supervisory rules need to be re-examined in the wake of the Silicon Valley Bank and Signature Bank failures to ensure current banking system risks are addressed. In remarks prepared for delivery to the National Association for Business Economics, Yellen also called for stronger […]
As we speak, our traditional trust-based banking system is crumbling down like a house of cards. Most experts hope that blockchain-based finance, or in other words, no-trust finance, will salvage the economy. Now, more than ever before, people are careful where they invest their money. But with the threat of malicious quantum computing use cases, […]
EU antitrust regulators gave unconditional approval for Alphabet unit Google’s acquisition of Croatian maths app Photomath, the European Commission said in a statement on Tuesday. The EU Commission said the deal would not reduce competition in the markets for “online homework and study help tools that include maths as a subject offering and general search […]
The Biden administration on Thursday added 14 Chinese companies to a red flag list, forcing U.S. exporters to conduct greater due diligence before shipping goods to them because U.S. officials have been unable to inspect the listed entities. Being added to the list can potentially start a 60-day clock that could trigger much tougher penalties. […]
U.S. Treasury Secretary Janet Yellen reiterated on Thursday that she was prepared to take further action to ensure that Americans’ bank deposits stay safe amid turmoil in the banking system. “As I have said, we have used important tools to act quickly to prevent contagion,” Yellen said in remarks to the U.S. House of Representatives […]
European Union leaders agreed on Thursday to back a revamp of the single market, simplified regulations and other steps to ensure the bloc can compete with the United States and China as an industrial leader in green and digital technologies. High energy prices and U.S. President Joe Biden’s Inflation Reduction Act, which offers $369 billion […]
Quantum computing technology is truly a masterpiece although it is not yet mature. I’ve already sung its praise: the benefits it brings to the table, the advantage it gives the telecom industry, and the radical revolution it will incite in the medical field. But it’s time to bring the expectations back to earth as there […]