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 […]
Technology
The Biden administration is working to further tighten restrictions on exporting semiconductor manufacturing gear to China, Bloomberg News reported on Friday citing people familiar with the situation. The government has briefed U.S. companies about the plan and told them it expects to announce the restrictions as early as next month, the report said. The Biden […]
Li Qiang, the former Communist Party chief of Shanghai, took office on Saturday as China’s premier, the country’s No.2 post, putting the close ally of President Xi Jinping in charge of reviving an economy battered by three years of COVID-19 curbs. Widely perceived to be pragmatic and business-friendly, the 63-year-old Li faces the daunting task […]
Hear from MS3 Networks’ female leaders this International Women’s Day According to techUK, just 8.5 per cent of senior technology leaders in the UK are from minority ethnic groups, and only 16 per cent of IT professionals are female. As we celebrate International Women’s Day (IWD) on 8 March, 2023, Hull-based fibre network operator, MS3 […]
With great power comes great responsibility, and governments are held to higher standards when it comes to data protection and security. Cloud centers have ushered in a new era of business operations, allowing companies to be more agile, flexible, and cost-effective. However, for the government and public sector, cloud adoption has been a plus to […]
India could become a key supplier of electronic parts and hardware for the United States, U.S. Commerce Secretary Gina Raimondo said on Friday, adding that Washington was not seeking a “technological decoupling” from China. Raimondo’s visit to New Delhi comes amid increasingly tight U.S. export restrictions on chipmaking technology to China which Washington says are […]
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 […]
China’s rubber-stamp parliament, the National People’s Congress (NPC), wraps up on Monday, capping what is expected to be the biggest government reshuffle in a decade after setting a modest target for annual economic growth. Coming months after President Xi Jinping secured a norm-breaking third term as supreme leader, the sessions will further consolidate his authority […]
Four years before Li Qiang gained notoriety as the force behind the two-month COVID lockdown of Shanghai, the man set to become China’s next premier worked quietly behind the scenes to drive a bold revamp of the megacity’s sclerotic stock market. Li’s back-channelling – sources said he bypassed the China Securities Regulatory Commission, which lost […]
The Shenzhen Stock Exchange has sought help from an intelligence technology firm to detect fraud and vet listings, said people with knowledge of the matter, as China adopts high-tech weaponry against crime and corruption in its bid to attract investors. The bourse has been testing EC Guard’s technology in recent weeks and staff have had […]