The upcoming week will see a focus on sustainable energy and electric cars, as the EU is set to unveil its Net Zero Industry Act on Tuesday, aimed at allowing homegrown green energy firms to provide 40% of the European bloc\’s capacity needs in five low-carbon technologies. The Act is seen as an effort to […]
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 […]
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 […]
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, […]
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 […]
The assets of Silicon Valley Bank’s Canadian branch have been temporarily seized by Canada’s banking regulator after the bank\’s collapse last week. US banking regulators were forced to close the bank after large sums were withdrawn by worried depositors, which has raised concerns about other banks that cater to the technology sector companies. The Office […]
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 […]
The Office for National Statistics (ONS) in the UK has added e-bikes, frozen berries, and security cameras to the basket of goods and services it uses to track inflation. The changes reflect the growing popularity of new technology and environmental concerns. The ONS added 26 new items and removed 16 from the basket, which comprises […]