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) […]
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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 […]
Chinese battery giant CATL’s plan to raise at least $5 billion in Swiss global depository receipts (GDR) has been delayed as Beijing regulators raise concerns over the large scale of the offering, three people with direct knowledge of the matter said. The world’s largest battery maker, formally known as Contemporary Amperex Technology Co (CATL), had […]
Amazon.com plans to launch its first internet satellites to space in the first half of 2024 and offer initial commercial tests shortly after, the company said Tuesday, as it prepares to vie with Elon Musk’s SpaceX and others to provide broadband internet globally. Amazon’s satellite internet unit, Project Kuiper, will begin mass-producing the satellites later […]
Alphabet Inc’s Google on Tuesday unveiled a flurry of artificial intelligence (AI) tools for its email, collaboration and cloud software, taking aim at Microsoft Corp days before its rival is expected to make a similar announcement. In a replay of last month’s dueling chatbot launches by the tech giants, Alphabet touted a “magic wand” for […]
Silicon Valley Bank’s collapse pressured global bank stocks further on Tuesday as investors fretted over the financial health of some lenders, in spite of assurances from U.S. President Joe Biden and other policymakers. An indicator of credit risk in the euro zone banking system leapt to its highest since mid-July, as worries about contagion risks […]
Global shares fell for a sixth day on Tuesday as a brewing U.S. banking crisis prompted investors to downgrade their expectations for interest rate hikes, even ahead of key inflation data later in the day. As recently as a week ago, investors were just recovering from a reality-check that prompted many to assume that rates […]
Britain’s National Cyber Security Centre is reviewing whether Chinese-owned video app TikTok should be banned from government phones, security minister Tom Tugendhat said on Tuesday. TikTok has come under increasing focus over fears that user data could end up in the hands of the Chinese government, undermining Western security interests. The United States, Canada, Belgium […]
Technology executives, prominent venture capitalists and founders including OpenAI CEO Sam Altman raced this weekend to keep alive companies caught up in the collapse of Silicon Valley Bank. Friday’s dramatic failure of the bank, which focuses on tech startups, was the biggest since the 2008 financial crisis. It roiled global markets, walloped banking stocks and […]