March 21 (Reuters) – As crisis grips the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The infamously volatile cryptocurrency looks positively buoyant, much like a banking meltdown pushes markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 lost 1.4% … Read more
Shares of Indonesia’s GoTo fell 2.78% in early trading on Tuesday after the company reported a bigger net loss in 2022. While the fourth-quarter 2022 adjusted EBITDA loss has improved, the company still lags peers such as Grab and Sea Limited, said DBS analyst Sachin Mittal. GoTo management had previously pledged costs, including two rounds … Read more
Chief Executive Andy Jassy said in a statement that the company had recruited a significant number of employees in recent years, a step he defended as necessary given what was happening in Amazon’s business at the time. era. “Given the uncertain economy we reside in and the uncertainty that exists for the near future, we … Read more
Andy Jassy, CEO of Amazon.Com Inc., at the GeekWire Summit in Seattle, Washington, USA on Tuesday, October 5, 2021. david ryder | Bloomberg | Getty Images Amazon will lay off 9,000 more employees in the coming weeks, CEO Andy Jassy said in a memo to staff on Monday. The cuts come on top of previously … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
Meta Platforms, parent company of Facebook Inc. created a tool to predict the structure of hundreds of millions of proteins using artificial intelligence. Researchers say promises to deepen scientists’ understanding of biology, and perhaps accelerate the discovery of new drugs. Meta’s research arm, Meta AI, used the new AI-based computer program known as ESMFold to … Read more
While SVB served tech startups and venture capital firms primarily located in the US or with a US presence, some Southeast Asia-based VCs – such as Jungle Ventures and Golden Gate Ventures – were also clients of SVB. Many venture capitalists in Southeast Asia may struggle to find another bank offering the same product offering … Read more
Bank of the First Republic FRC -21.37% fell more than 20% after the bank’s rating was downgraded by S&P Global and Fitch Ratings, which both pointed to the risk of deposit outflows from the bank. The stock closed at its lowest level since 2012 and is down more than 70% from a week ago. US … Read more
Shantanu Narayen, CEO of Adobe, attends a media event in Mumbai on May 3, 2017. Abhijit Bhatlekar | Mint | Hindustan Times | Getty Images Adobe shares rose 5% in extended trading on Wednesday after the software maker reported fiscal first-quarter results that beat Wall Street estimates and raised its full-year forecast. Here’s how the … Read more
Tim Mayopoulos attends the Bilt Rewards Launch Party at Equinox Hotel New York at Hudson Yards on June 22, 2021 in New York City. Sean Zanni | Patrick McMullan | Getty Images Three days into his tenure as government-appointed CEO of Silicon Valley Bank, Tim Mayopoulos has a message for his high-powered venture capital and … Read more
