The collapse of Silicon Valley Bank (SVB), a Santa Clara-based lender that had positioned itself as a darling of the tech industry, is expected to shake up one of the country’s most expensive housing markets, analysts say. Also, failure of Silicon Valley Bank has shook not just the region’s techContinue Reading
An Ad of the largest Cryptocurrency in terms of market cap, Bitcoin was spotted in front of the defunct bank Silicon Valley Bank, SVB. A white van directly in front of the bank displayed the Bitcoin advert. Recall that the was shutdown by regulators few days ago which has ledContinue Reading
Trading has stopped for one of the top leading European banks, BNP Paribas after 8% plunge in share price in early trading today. Banking crisis has now reached Europe, with shares of BNP Paribas and Credit Suisse falling this morning. Few days back, some banks in the United States ofContinue Reading
The United States Bureau of Statistics and Labour, BLS has released the long awaiting unemloyment rate. According to BLS, Total nonfarm payroll employment rose by 311,000 in February, and the unemployment rate edged up to 3.6 percent. Notable job gains occurred in leisure and hospitality, retail trade, government, and healthContinue Reading
Apple’s next flagship phone appears to be the iPhone 15 Pro Max, with the so-called iPhone Ultra possibly being delayed until 2016. The iPhone 15 Pro Max, as the largest and most fully-featured model in the iPhone lineup, has the potential to make a major impression on our best phonesContinue Reading
China has boosted military budget and defense spending this year by 7.2% to 1.56 trillion yuan ($230 billion), according to a draft issued on Sunday by the Ministry of Finance. The amount China spent on military in 2019 increased by 7.5% to 1.19 trillion yuan. According to official statistics, China’sContinue Reading
Swiss financial regulator, Finma, is investigating Credit Suisse Group Chairman, Axel Lehmann’s comments about outflows from the bank stabilizing in early December. Two anonymous sources familiar with the matter told Reuters that Finma is attempting to determine how much Lehmann and other representatives of the bank knew about clients stillContinue Reading
Chinese executives disappearing from public view has become a worrying trend, as the latest case of Bao Fan, the founder of China Renaissance Holdings Ltd, joins a list of high-profile executives going missing in recent years without much explanation. The following are some other notable cases of Chinese executives whoContinue Reading
In 2022, Western sanctions against Russia, in response to the country’s military intervention in Ukraine, had a significant impact on Russian banks. As a result, these banks faced a decline in overseas business, leading to a 90% profit drop, and a rapid rethink from the central bank and the governmentContinue Reading