Australia is set to announce a nuclear submarine deal. Here\’s what we know so far
Australia will reportedly purchase three US nuclear-powered submarines, with the option to buy two more, in what is expected to be the nation\’s largest defence acquisition costing at least $100bn. Prime Minister Anthony Albanese will unveil the deal through the AUKUS trilateral security pact with the UK and US in San Diego. The submarines, using […]
US and UK bid to stem fallout from Silicon Valley Bank collapse
Silicon Valley Bank UK has been sold to HSBC in a bid to prevent a potential banking crisis after the bank\’s historic failure. The UK Treasury and the Bank of England announced the purchase of the bank, guaranteeing the safety of £6.7bn of deposits. The purchase came after UK officials worked tirelessly over the weekend […]
China set to tighten grip over global cobalt supply as price hits 32-month low
The second-largest bank collapse in US history just happened. Should Australia be worried?
California-based Silicon Valley Bank (SVB), which specialised in financing tech startups, has collapsed, reportedly after a flawed capital raise and deposit withdrawals. The bank held $209bn in assets and $175.4bn in deposits. Nearly half of all tech and life sciences firms in the US that received funding were said to bank with SVB. The bank\’s collapse […]
U.S., Britain hustle to stop a potential banking crisis after Silicon Valley Bank collapse | CBC News
Governments in the US and UK have taken steps to prevent a potential banking crisis after the failure of California-based Silicon Valley Bank, which had over $200bn in assets and catered to tech startups, venture capital firms, and well-paid technology workers. Regulators in the US rushed to close Silicon Valley Bank on Friday when it […]
PM Shehbaz accords in-principle approval to set price of cotton at Rs8500 per 40kg
The Prime Minister of Pakistan\’s Punjab province, Shehbaz Sharif, has given preliminary approval for the price of cotton to be set at 8,500 Pakistani rupees per 40 kilograms this year. The Agricultural Task Force review meeting in Lahore considered ways to improve the output of cotton and its support price, with it noted that last year\’s floods […]
The cheapest and easiest way to keep your internet up during load shedding | News24
South Africa is facing a severe power crisis with load shedding expected to hit a record high in 2023. Mobile networks are unreliable during power shortages, as batteries struggle to keep up with repeated outages and thefts. This makes it challenging to maintain a data connection, particularly during extended periods of Stage 6 cuts. However, […]
China \”resolutely opposed\” to external interference in Taiwan: Xi
The Chinese president, Xi Jinping, has reiterated his country’s opposition to external interference over relations with Taiwan, warning of “Taiwan independence” separatist forces. Speaking at the end of China’s annual parliamentary session, Xi urged the need to “unswervingly advance” unification efforts between Taiwan and China, stating that China would resist activities in Taiwan instigated by […]