A would-be buyer for the UK arm of failed U.S. lender Silicon Valley Bank (SVB) stepped forward on Sunday as British Prime Minister Rishi Sunak said his government was working to limit any fallout for companies from the bank’s demise. Bank of London said it had submitted a formal proposal to the UK arm of […]
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Britain’s finance ministry and the Bank of England are working to minimize the disruption that could arise from a collapse of the UK arm of Silicon Valley Bank, which has been seized by U.S. regulators, the ministry said on Saturday. Talks were scheduled for Saturday to discuss the issues faced by British tech companies affected […]
SVB Financial Group Inc’s shutdown and takeover by banking regulators on Friday can be traced to the U.S. Federal Reserve raising interest rates and souring the risk appetite of investors. Here is the sequence of events that led to Silicon Valley Bank’s failure: FEDERAL RESERVE RAISES RATES The Federal Reserve has been raising interest rates […]
Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did business as Silicon Valley Bank, on Friday and appointed the Federal […]
German rail operator Deutsche Bahn, which is digitising its operations, last December awarded a 64 million euro ($67.79 million) contract to supply most of the components for its new IP network to a company using technology from China’s Huawei. The IP network will form the backbone of a new digital infrastructure that will enable the […]
Main Street investors are facing off against Wall Street in an attempt to sway the U.S. Securities and Exchange Commission in its proposed revamp of stock trading. Individuals coordinating online have flooded the SEC with more than 1,300 comment letters, mostly voicing their support, on rules the regulator proposed in December that represent the biggest […]
U.S. Energy Secretary Jennifer Granholm said the United States and the European Union were in talks about a free trade-style deal around clean technology, the Financial Times reported on Friday. “We don’t want to see any trade rivalry. And we’re in discussion with our EU counterparts about how to make sure we can do this […]
Main Street investors are facing off against Wall Street in an attempt to sway the U.S. Securities and Exchange Commission in its proposed revamp of stock trading. Individuals coordinating online have flooded the SEC with more than 1,300 comment letters, mostly voicing their support, on rules the regulator proposed in December that represent the biggest […]
Australian nuclear submarines are key to defending the country’s 36,000 kilometres of coastline and maintaining an edge against China, whose growing military presence means conflict can erupt without notice, defence officials and government advisers said. The shift from Australia’s diesel-electric fleet to nuclear-powered subs brings additional range, stealth and strike capability – crucial capabilities given […]
Groq, a Silicon Valley chip startup founded by a former Alphabet Inc engineer, said on Thursday it has adapted technology similar to the underpinnings of the wildly popular ChatGPT to run on its chips. Groq modified LLaMA, a large language model released last month by Facebook parent Meta Platforms Inc that can be used to […]