MUFG Hires Over 20 From SVB to Expand Technology Banking
Mitsubishi UFJ Financial Group has hired more than 20 people from Silicon Valley Bank as the Japanese firm builds out its technology, media and telecom banking group.
Bloomberg Tech
S&P Flat; Tesla Drops, IBM Gains in Late Trading: Markets Wrap
Stocks were little changed as traders assessed another batch of corporate earnings and remained focused on any signals about the Federal Reserve’s next policy moves. Bond yields climbed.
Schumer Says AI Presents Both a ‘Serious Problem’ and an Economic Boon
Artificial intelligence is the next technology that could get support — and new guardrails — from the US government, Senate Majority Leader Chuck Schumer said.
NFTs Tied Up in Three Arrows Collapse to Be Sold By Sotheby’s
Sotheby’s is preparing to sell a collection of digital art recovered by liquidators unwinding failed cryptocurrency hedge fund Three Arrows Capital Ltd.
Mobile Bank Apps Helped Kill SVB and Pose Risk to Others, Regulator Says
Mobile apps that facilitated the rapid withdrawal of billions of dollars of deposits in just hours at Silicon Valley Bank highlight a new risk for banks’ liquidity planning, according to a top US regulator.
Netflix Sees Stronger Second Half With Account-Sharing Curbs
Netflix Inc. will begin cracking down this quarter on US viewers who share someone else’s account, predicting plans to charge such customers will boost growth in the second half of the year.
Stability AI Launches ChatGPT Rival, With Some Kinks to Work Out
Artificial intelligence startup Stability AI Ltd. has released a language model called StableLM, the early version of an artificial intelligence tool that could power a chatbot along the lines of OpenAI’s ChatGPT.
Bitcoin Drops Below $30,000 Again on Interest Rate Fears
Bitcoin dropped back below the closely watched $30,000 level amid a wider retreat in cryptocurrencies, as stubbornly high UK inflation fanned fears of higher-for-longer interest rates.
Spy Satellite Agency Has Plans to Quadruple US Eyes in the Sky
The US intelligence agency that develops and buys spy satellites plans a fourfold increase by 2033 in orbiting spacecraft like those now being used to monitor Russia’s invasion of Ukraine.
Stocks Waver as Traders Weigh Earnings, Beige Book: Markets Wrap
Stocks fluctuated as traders assessed another batch of corporate earnings and remained focused on any signals about the Federal Reserve’s next policy moves. Bond yields climbed.