The world's first 3D printed rocket is scheduled to blast off from Florida on Saturday on the maiden flight of an innovative spacecraft billed as being less costly to produce and fly.. It is the largest ever 3D printed object according to the Long Beach-based company whose goal is to produce a rocket that is 95 percent 3D printed.
The surprisingly rapid implosion of Silicon Valley Bank has markets jittery over a potential sign of widespread turmoil, but analysts see only a limited risk of financial contagion.. At the end of 2022, banks had some $620 billion in "unrealized losses" connected to these securities, according to the FDIC. But the turmoil does not have existential implications for the biggest banks, whose overall assets are "in excess" of the potential call of these bonds and are diversified, Leon said. jum-jmb/jh
US regulators shuttered Silicon Valley Bank (SVB) on Friday and took control of its deposits, in what amounts to the biggest retail banking failure since the global financial crisis.. Below are some of the biggest retail banking failures, ranked by the value of their assets when they collapsed: - HBOS (United Kingdom), on 09/17/2008 (Around $811 billion) - Washington Mutual (United States), on 09/25/2008 ($307 billion) - Silicon Valley Bank (United States), on 03/10/2023 ($209 billion) - Sachsen LB (Germany), on 08/26/2007 (Around $92 billion) - Bradford & Bingley (United Kingdom), on 09/29/2008 (Around $63 billion) - IndyMac (United States), on 07/11/2008 ($32 billion) In addition, the global financial crisis also saw the failure of a number of corporate and investment banks, marked by the dramatic bankruptcy of Lehman Brothers on September 15, 2008.
US hedge fund Elliott Investment Management has made it through to the second stage of the bidding process in the potential sale of Manchester United.. Elliott previously owned AC Milan before the Italian club was sold to American investment firm RedBird Capital last year.
Facebook owner Meta is working on a new "text sharing" social media network, it said Friday, in a project seen as a potential rival to embattled Twitter.. "We're exploring a standalone, decentralized social network for sharing text updates," Meta, which also owns Instagram, said in a short emailed statement.
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 Twitter.. "We're exploring a standalone, decentralized social network for sharing text updates," Meta said in a short emailed statement.
The UK economy has returned to growth, data showed Friday, easing fears of an inflation-induced recession as the government readies next week's budget against the backdrop of a cost-of-living crisis.. The ONS cautioned that economic growth flatlined in January from the same month a year earlier, hit by high living costs.
French champions Paris Saint-Germain on Friday confirmed it is in the race to buy the Stade de France, the centre piece for next summer's Olympics. . "We are candidates for the Stade de France," a PSG source said, confirming a report in the French sports daily L'Equipe, adding that it had not yet put in its bid.
The United States added more jobs than expected in February -- though fewer than the previous month, government data showed Friday, suggesting policymakers have more to do to cool down the world's biggest economy The numbers -- which saw the unemployment rate tick up -- bring slight relief after a surprise hiring surge in January, but also suggest the economy remains hotter than hoped.. The US economy added 311,000 jobs last month, down from a revised 504,000 figure in January, the Labor Department said.
Belgian Prime Minister Alexander De Croo on Friday banned federal officials from using TikTok on their work phones, making his the latest country to take steps against the Chinese app.. "We shouldn't be naive: TikTok is a Chinese business that is currently obliged to cooperate with the Chinese intelligence services," De Croo said.
