Category Archives for "The Economy"

The Collapse of Silicon Valley Bank: Challenges for Tech Companies and Financial Institutions

Silicon Valley Bank, a stalwart of the tech industry for nearly four decades, collapsed on Friday after regulators took control of the California-based financial institution.[0] Founded in 1983, SVB specialized in banking for tech startups and provided financing for almost half of US venture-backed technology and health care companies.[1] The bank grew rapidly during the […]

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US Economy Adds 311,000 Jobs as Unemployment Rate Rises to 3.6%

The US economy added 311,000 jobs in February, exceeding economists’ expectations of 225,000, according to a report from the Labor Department released Friday.[0] The unemployment rate unexpectedly increased to 3.6%, while the labor force participation rate rose to its highest level since March 2020 at 62.5%. This was higher than the expected 3.4%.[0] Monthly average […]

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Li Qiang Appointed China’s New Premier: What to Expect

BEIJING — Li Qiang, the former Communist Party chief of Shanghai, was appointed China’s new premier on Saturday, taking on the role of reviving the world’s second-largest economy after three years of COVID-19 curbs. He was elected by a vote of 2,936-3, with eight abstentions, at the National People’s Congress.[0] Li, 63, is a close […]

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