Silvergate Capital Corporation Announces Voluntary Liquidation After Crypto Industry Meltdown
In light of recent industry and regulatory developments, Silvergate Capital Corporation announced Wednesday that it will be winding down operations and voluntarily liquidating its bank.[0] All deposits will be fully repaid as part of the Bank’s wind down and liquidation plan.[1] The decision to wind down comes after the crypto industry’s meltdown sapped the company’s […]
Continue reading Dutch Government Introduces Advanced Microchip Export Restrictions
The Dutch government has announced that it will be introducing new export restrictions on advanced microchip technology from the Netherlands.[0] The move comes as part of a U.S.-led initiative to limit the supply of cutting-edge chips to China and follows similar restrictions imposed by the United States.[1] The restrictions are focused on the most advanced […]
Continue reading Instagram Experiences Outage Worldwide: Issue Now Resolved
On Thursday morning, thousands of Instagram users around the world experienced an outage.[0] According to the outage tracking website Downdetector.com, users started to report problems around 6.51 am Indian Standard Time.[1] The website states that 46,000 users reported issues with accessing the photo-sharing platform in the United States at the peak of the outage.[2] Most […]
Continue reading Pfizer’s RSVpreF Vaccine Accepted by FDA for Priority Review
Pfizer’s RSV maternal vaccine candidate, RSVpreF (PF-06928316), was recently accepted by the US Food and Drug Administration (FDA) for priority review, with an action date set for August 2023.[0] The FDA’s decision sets the stage for the potential approval of the first vaccine to be administered to pregnant individuals to protect against the complications of […]
Continue reading Optimism Amid Uncertainty: Examining U.S. Consumer Spending Trends
Mario Tama / Getty Images[0] Amid a period of uncertainty, there is still reason for optimism. According to Ian Shepherdson, chief economist at Pantheon Macroeconomics, the trends from the Federal Reserve’s perspective are quite favorable. Economic growth is slowing and inflation is falling, although it is not a linear process.[1] Cameron Mitchell, a restaurant owner […]
Continue reading The Fed’s Preferred Inflation Measure Unexpectedly Accelerates, Raising Concerns of More Rate Hikes
The Federal Reserve’s preferred measure of inflation, the personal consumption expenditures price index (PCE), unexpectedly accelerated in January, raising fears that rising prices won’t be as easy to control as many had hoped.[0] Friday’s Commerce Department data showed that the PCE price index increased 0.6% from the preceding month, the largest increase since June. Besides […]
Continue reading Jeff Bezos Takes Step Towards Buying Washington Commanders
Jeff Bezos, the world’s third-richest person according to Forbes, has taken a major step towards buying the Washington Commanders from owner Daniel Snyder.[0] He has hired New York-based investment firm Allen & Company to “evaluate a possible bid”, as reported by Mark Maske, Nicki Jhabvala, and Liz Clarke of the Washington Post.[1] Bezos, who is […]
Continue reading Cosori Air Fryer Recall: Over 2 Million Affected in US, Canada, and Mexico
Cosori, a popular air fryer brand owned by Atekcity Corporation, is recalling several of its models due to fire and burn hazards[0] The US Consumer Product Safety Commission (CPSC) issued a recall notice for over 2 million air fryers across the US, Canada, and Mexico, and consumers are urged to immediately stop using the affected […]
Continue reading Inflation Surges, Consumer Spending Rises: Fed on Course to Increase Rates
Economists were caught off-guard this week as the Federal Reserve’s preferred measure of inflation, the Personal Consumption Expenditures price index, came in hotter than expected. The PCE index rose 0.6% in January, both in core and headline terms, compared to the 0.2% rise in December. The core PCE index, which strips out volatile food and […]
Continue reading FDA Files for Priority Review of Pfizer’s RSV Vaccine Candidate to Prevent Complications in Infants
The U.S. Food and Drug Administration (FDA) has accepted a filing for approval of Pfizer’s respiratory syncytial virus (RSV) vaccine candidate, RSVpreF (PF-06928316) for priority review.[0] The vaccine, if approved, would be the first immunization approved for administration in pregnant individuals to help protect against the complications of the virus in infants from birth through […]
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