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Chinese Firms Try to Calm Investors after SVB Collapse

Chinese Firms Try to Calm Investors after SVB Collapse

58
Economy news
13.03.2023

The failure of Silicon Valley Bank (SVB), which was trying to gain more traction with Chinese tech start-ups, has caused widespread concern in the world’s second-largest economy. The founders andmanagement of at least a dozen prominent Chinese firms...

After SBV Collapse, US Regulators Bail Out Customers

After SBV Collapse, US Regulators Bail Out Customers

71
Economy news
12.03.2023

Silicon Valley Bank collapsed last week, making it the second biggest bank failure in US history and the largest failure of any American financial institution since the height of the subprime financial crisis almost 15 years ago. The bank, the 16th l...

Two-year US Treasury Yield Tops 5% For the First Time Since 2007

Two-year US Treasury Yield Tops 5% For the First Time Since 2007

61
Economy news
09.03.2023

The yield on the two-year US treasury note hit 5% this week, its highest level since 2007. Investors are assessing Federal Reserve Chairman Jerome Powell’s comments, who admitted the central bank may be forced to increase the speed of interest rate h...

Oil Prices Rebound on Hopes of Increased China Demand

Oil Prices Rebound on Hopes of Increased China Demand

76
Commodities news
08.03.2023

This year’s rollercoaster ride for oil prices continues, with prices recovering from a brief sell-off to gain last week, driven by renewed optimism around demand from top oil importer China.Brent crude futures rose 1.4% to settle at $86 a barrel. US...

UK’s Energy Price Guarantee Expected to Remain Unchanged

UK’s Energy Price Guarantee Expected to Remain Unchanged

60
Economy news
07.03.2023

Bitcoin edged above $23,000 after Federal Reserve Chair Jerome Powell, speaking at an economics forum, said that inflation was lowering.The world’s biggest cryptocurrency climbed 1% to $23,236.80 while Ethereum rose 1.3% to $1,667.63. Bitcoin had bee...

Another Body Blow to Crypto as Silvergate Hits Trouble

Another Body Blow to Crypto as Silvergate Hits Trouble

109
Cryptocurrency news
05.03.2023

Silvergate Capital Corp., a traditional bank that positioned itself as a key settlement firm in the crypto world, announced last week it was discontinuing its crypto payments network. The firm, which combines fiat money services with digital-asset se...

Two-Year Treasury Yield Touches 15-Year High

Two-Year Treasury Yield Touches 15-Year High

53
Economy news
02.03.2023

US Treasury yields rose this week as investors waited for new economic data and braced themselves for additional interest rate hikes by the Federal Reserve.The yield on the benchmark 10-year treasury climbed by seven basis points to 4.066%. The two-y...

Elon Musk Presents Tesla’s “Master Plan 3”

Elon Musk Presents Tesla’s “Master Plan 3”

66
Economy news
01.03.2023

Tesla CEO Elon Musk, fresh from regaining his position as the world’s richest man, presented his “Master Plan 3” to investors. Among the topics Musk covered included how Tesla plans to scale its sales and operations, as well as how the company intend...

The US May Need to Re-Energize Its Fight Against Inflation

The US May Need to Re-Energize Its Fight Against Inflation

57
Economy news
28.02.2023

There is growing evidence that market participants, policymakers and even a few economists have been hasty to declare victory on behalf of the US Federal Reserve in the fight against inflation.Now, an increasing number of economic data releases are g...

Millennials Have Accumulated Historic Debt of $3.8 Trillion

Millennials Have Accumulated Historic Debt of $3.8 Trillion

53
Economy news
27.02.2023

People born between 1981 and 1996, commonly referred to as millennials, have accumulated record-high debt of more than $3.8 trillion at the end of 2022, up a whopping 27% from 2019.During the COVID-19 pandemic, household debt was flat as government p...

Tech's AI Arms Race in Full Swing: Meta and Baidu Join in

Tech's AI Arms Race in Full Swing: Meta and Baidu Join in

65
Economy news
26.02.2023

Meta Platforms Inc said this past week it was releasing a new large-language model, the main software behind its artificial intelligence (AI) system. It signals a heating up of the AI “arms” race as technology companies scramble to integrate AI into...

Crypto Scammers Use AI Craze to Deceive Investors

Crypto Scammers Use AI Craze to Deceive Investors

84
Cryptocurrency news
23.02.2023

Scammers are taking advantage of the recent craze surrounding artificial intelligence (AI) chatbots by launching and selling fake crypto coins named after Microsoft’s chatbot ChatGPT. Blockchain analysis firm Peckshield reported that in the firs...

Hong Kong Economy Expected to Grow Between 3.5% and 5.5%

Hong Kong Economy Expected to Grow Between 3.5% and 5.5%

80
Economy news
22.02.2023

Hong Kong’s COVID-ravaged economy will return to positive growth territory this year and expand by between 3.5% and 5.5%, as the city opens up and its major trading partner China’s economic prospects improve.The Asian financial hub was buffeted by a...

US Retail Sales Rebound Strongly

US Retail Sales Rebound Strongly

60
Economy news
21.02.2023

January retail sales in the US jumped by the most in almost two years, after two straight monthly declines. According to the Commerce Department, retail sales bolted 3% last month, the biggest increase since March 2021.Data reveals that American cons...

Tech Industry Faces Deep Layoffs

Tech Industry Faces Deep Layoffs

66
Economy news
20.02.2023

The tech industry is reeling from an economic downturn, with many major firms announcing significant layoffs. With two months of 2023 yet to be completed, 108,346 employees from 380 tech companies have been cut in widespread layoffs. This figure alre...