Investors are zeroing in on key parts of the market for short-term dollar borrowing to determine if and how signs of systemic stress might be emerging after the biggest US bank collapse in over a decade.
Adept, an artificial intelligence company co-founded by a former engineer at OpenAI, has raised $350 million to develop tools that can actually execute commands based on human prompts rather than giving written responses.
A Russian fighter jet collided with a US surveillance drone in international airspace above the Black Sea, causing the American aircraft to crash, the Pentagon said, an incident that ratcheted up tensions already running high over the invasion of Ukraine.
The bond market resumed pricing in better-than-even odds of a Federal Reserve rate hike next week, reversing much of Monday’s collapse in yields that was fueled by bets that a spate of bank failures would stay the central bank’s hand.
(Bloomberg) — Bitcoin’s four-day rally cooled after the largest cryptocurrency climbed above $26,000 for the first time since June on growing optimism that the digital-asset sector will weather the recent turmoil in the US financial system.
Representative George Santos filed paperwork Tuesday declaring his intention to seek reelection in 2024, even as he fights off an ethics investigation into myriad lies about his background and experience.
(Bloomberg) — A rising number of companies in the digital-asset sector are reaching out to asset managers such as Fidelity Investments to invest their cash in products like Treasuries in the aftermath of the recent collapse of several crypto friendly US banks.
The world’s biggest makers of insulin are likely to make more money, not less, even after slashing prices by as much as 75% due to US government pressure.
(Bloomberg) — BP Plc’s chief US economist Michael Cohen said the oil industry focused too much on cutting greenhouse gases last year, eroding its ability to keep pace with demand.
Besides its high-profile tech clients, Silicon Valley Bank also had accounts for around 400 West Coast wineries and was deeply enmeshed in the industry. If SVB’s celebrated Wine Division doesn’t continue in some form, vintners wonder if the future will be as silky smooth.
