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Author's articles
Taiwan unveils portable attack drone as China tensions rise
Taiwan unveiled its first portable attack drone on Tuesday, an unmanned aerial vehicle similar to a US model used in Ukraine's fight against Russia, as China steps up military pressure on the island.
Art auctions hit record in 2022 despite economic gloom
More than a million artworks were put up for auction for the first time in 2022 despite a gloomy global economy, according to a report released on Tuesday. More than a million artworks were put up for auction, and 704,747 sold -- both records -- with Christie's seeing six works that surpassed $100 million each.
Embattled Credit Suisse admits 'material weaknesses'
Credit Suisse acknowledged Tuesday "material weaknesses" in its internal controls as the scandal-hit Swiss bank released its annual report, which was delayed following queries from US regulators regarding its books. The bank's report said that its "internal control over financial reporting was not effective" for 2021 and 2022.
SVB collapse causes headaches for US Fed before rate decision
The dramatic implosion of Silicon Valley Bank (SVB) last week could bring the Federal Reserve's current cycle of interest rate hikes to an end far sooner than many analysts expected.
Indonesians seeking climate justice take aim at Swiss concrete giant
Sitting near a wall of stacked rocks, fisherman Mustagfirin looks out to sea from the tiny Indonesian island of Pari, wondering whether his home will exist for much longer. My ancestors, my parents, my children, and even my grandchildren were all born here," said Mustagfirin, who like many Indonesians goes by one name.
Hot spring baths block Japan's geothermal potential
With over 100 active volcanos, Japan has the world's third largest geothermal resources, but also a powerful industry that has steadfastly opposed developing the sector: hot springs. But the hot springs or onsens that dot Japan are a major business, beloved by locals and tourists alike, and the industry fears developing geothermal might mean water levels and temperatures drop at their facilities.
SVB's demise: Why didn't US bank regulators see it coming?
With hindsight, there were warning signs ahead of last week's spectacular collapse of Silicon Valley Bank, missed not only by investors, but by bank regulators. Banking experts have been among those alarmed at the rapid collapse of SVB, the country's 16th biggest bank by assets and how its demise became a harbinger of Sunday's failure of another lender, Signature Bank.
Asian markets sink as SVB contagion fears hit banking sector
Asian markets sank Tuesday, with banks bearing the brunt of the selling on fears of contagion in the sector after the collapse of two regional US lenders. Equity markets were well in the red in early Asian trade Tuesday, with Tokyo, Sydney and Seoul almost two percent down, while Hong Kong, Shanghai, Singapore and Taipei suffered hefty selling.
Regret and blame in Silicon Valley after bank run
The nearly overnight collapse of Silicon Valley Bank has left the US tech scene in shock, wondering how one of its most valued institutions could vanish so suddenly, shunned by the companies that used it most. "I think the ripple effects of this in Silicon Valley are going to be felt for the next decade," Ives said. arp-juj-leb/caw/dw
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