Archive of Business
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Silicon Valley Bank failure rattles USDC, other cryptocurrencies
The supposedly “stable” cryptocurrency USDC fell sharply after the firm that created it, Circle, announced it holds $3.3 billion in failed Silicon ... Banking & Finance -
UK finance minister and Bank of England work to contain SVB fallout
Britain’s finance ministry and the Bank of England are working together to minimize the disruption that could stem from a collapse of the UK arm of ... Banking & Finance -
Germany airport staff strikes sees 350 flights cancelled
A 24-hour strike by security staff at four German airports will force the cancellation of 351 flights Monday, their union announced, an action ... Aviation & Transport -
Silicon Valley Bank staff offered 45 days of work at 1.5 times salary: FDIC email
Employees of Silicon Valley Bank were offered 45 days of employment at 1.5 times their salary by the Federal Deposit Insurance Corp, the regulator ... Banking & Finance -
Owner of Facebook, Meta, says working on new social network
Facebook owner Meta is working on a new “text sharing” social media platform, it said Friday, in a project seen as a potential rival to embattled ... Technology -
Gas cargoes stranded near Russia due to Crimea bridge security restrictions
Several tankers loaded with liquefied petroleum gas (LPG) have been unable to cross under Russia’s Crimea bridge due to security restrictions, traders ... Energy -
Ivory Coast signs deal for 50-70 MW solar plant with UAE’s Masdar
Ivory Coast has signed an agreement with UAE renewable energy company Masdar to explore the development of a 50-70 megawatt (MW) solar power plant, ... Gulf -
JLR owner Tata seeks to sell engineering unit stake in India IPO
Tata Technologies Ltd. has sought approval from India’s markets regulator for an initial public offering in which its parent carmaker Tata Motors Ltd. ... Financial Markets -
Bitcoin set for worst week since FTX crash on regulation, interest rates
Bitcoin is having its worst week since November as an equity selloff, fear over higher interest rates and an escalating US regulatory crackdown on ... Technology -
SVB deep dive: Why is everyone talking about the bank now?
The startup world was thrown into chaos Thursday when a lender little-known outside of Silicon Valley sparked a wave of panic in tech circles that ... Banking & Finance