South Korea\’s semiconductor industry is under pressure to choose a side in the rivalry between the US and China as Washington announced requirements for its $52bn semiconductor funding program. The South Korean government is also concerned as the requirements of the CHIPS Act call for subsidy applicants to share business information and excess profits with […]
The 2023 Canadian federal budget, to be unveiled on March 28, will prioritize three main areas: affordable living measures, investments in the clean industrial economy, and additional resources for provincial healthcare funding. Despite these priorities requiring significant spending, the budget will be constrained by a worsening fiscal situation. Experts suggest that Canada needs a focused […]
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 […]
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 […]
In his first public address since securing a third term as China\’s president, Xi Jinping urged the country to build a \”great wall of steel\” in the form of its military to safeguard its national security and development interests. Speaking at the closing session of the National People\’s Congress, Xi also called for China to […]
In his first public address since securing a third term as China\’s president, Xi Jinping urged the country to build a \”great wall of steel\” in the form of its military to safeguard its national security and development interests. Speaking at the closing session of the National People\’s Congress, Xi also called for China to […]
On the last night of its existence, Silicon Valley Bank was hosting VC Bill Reichert of Pegasus Tech Ventures, who was giving a presentation on “How to Pitch Your WOW! to Investors” to about 45 or 50 people. Mike McEvoy, the CEO of OmniLayers, recounted the scene for me. “It was eerie over there,” he […]