Business and Technology
The Business and Technology Section of IR Insider publishes breaking news reports and analyses regarding developments relating to the U.S. and World Economy. Topics covered may include the global debt crises, changes to tech and privacy policies, updates on U.S. foreign trade, and ratification of economic treaties and sanctions. Additionally, news and data on world financial markets and leading banking institutions will be discussed. The section editor is Quinn Sental.
Collapse of Silicon Valley Bank reveals US Economy’s Instability
March 10 marked the second largest bank collapse in US history since the 2008 financial crisis as Silicon Valley Bank filed for bankruptcy.
The US Threatens to Ban TikTok Due to Perceived National Security Risks
On Wednesday, TikTok reported that the Committee on Foreign Investment in the US (CFIUS) called for ByteDance Ltd.-- the Beijing-based company that owns TikTok-- to sell their stakes in the company or else face a ban on the popular app in the US.
The Biden Administration Prepares to Regulate US Investment in Chinese Tech Firms
On Friday, March 3, the US trade and commerce departments released reports outlining regulations on outbound investments to firms that pose potential national security risks.
European Commission Reported Eased Eurozone Inflation Yet Higher Price
On Thursday, March 2, the European Commission's report indicated an eased inflation level in Europe from last month. However, the looming pressure on central bankers to raise interest rates still exists as the high prices have yet to show a sign of cooling down.
Netanyahu’s Proposed Judiciary Overhaul Is Rattling Israel’s Tech Industry
Israel’s tech industry leaders are taking steps to safeguard their businesses as Prime Minister Benjamin Netanyahu’s government pushes legislation that threatens to overhaul the judiciary system.
Unpacking the AI chatbot race: How have tech giants fared against Microsoft’s ChatGPT?
Almost three months after its creation, Microsoft’s ChatGPT has become the face of technology’s latest innovations in artificial intelligence, launching thousands of high-performance, AI-powered search engines.
VAR Sparks Controversy over the Role of Technology in Sports
This year's world cup has seen the introduction of the Virtual Assistant Referee (VAR) to help officiate games, leading to a series of controversies and discourse around the role of technology in sports.
Unrest Over Covid Lockdowns Spread Following Protest Outside an iPhone Factory in China
On Wednesday, Nov. 23, workers at Foxconn's central China Apple manufacturing line, the world's largest iPhone factory in Zhengzhou, China, protested over contract disputes and coronavirus lockdown under Beijing's continuing “zero-Covid policy,” which led to rising nationwide unrest.
Apple's Chip Maker Relocated Engineers and Built a Factory in Arizona to Hedge against China
On Tues. Dec. 6, Taiwan Semiconductor Manufacturing, or TSMC, one of the world's largest chip makers, announced the construction of two labs with the capacity to manufacture N4 and 3nm technology in Arizona, representing the largest foreign direct investment in Arizona.
Crypto Companies Around the World Face Aftermath of FTX Collapse
The collapse of the crypto exchange FTX on November 11th sent shockwaves through the crypto industry.
Giant Offshore Wind Farms Show Potential to Replace Jobs and Revive Local Economies in Scotland
The United Kingdom plans to expand offshore wind energy within the next decade.
China Uses Sophisticated Surveillance Technology to Track Down and Intimidate Protestors
China’s pervasive technological surveillance system implicated numerous people present at last week’s widespread protests against Zero Covid policies. Methods of tracking protestors include facial recognition technology and tapping into and collecting data from iPhones present at protests.
EU Settled on Oil Price Cap to Limit Russian Revenue without Global Energy Shock
On Friday, Dec. 2nd, several officials and diplomats from the European Union agreed on an oil price cap of $60 per barrel for Russian cargoes, which aims to limit oil revenue that Putin has used to continue the Russo-Ukraine War while preventing a global energy shock.
USA's Newest Round of Trade Restrictions against China
As tensions continue to heighten between the US and China, the US has unleashed its latest restrictions on Chinese technology.
Oil Prices Slide Despite Casualty in Poland and Explosive Evidence at Nord Stream
On Friday, Nov. 18th, the U.S. oil benchmark, West Texas Intermediate, slid to $80 per barrel.
South Korea Emerges as a Major Arms Supplier to Poland
In recent months, Poland has undertaken an effort to modernize its military.
Apple Shifts iPhone Production to India Amid Concerns About China
As Apple looks to shift production away from China due to a series of economic and political misfortunes, they have begun to move larger amounts of iPhone production to India.
US Justice Department Finds Crypto Exchange Binance Facilitated Flow of $7.8 Billion from Iranian Firms
Last week a US Justice Department Investigation revealed that the leading crypto exchange, Binance, has helped trade almost $8 billion worth of transactions from Iranian firms since 2018.
German Chancellor Sided with China and Put Business First During Friday's Beijing Visit
On Friday, Nov. 4t, German Chancellor Olaf Scholz and top executives visited Beijing to meet with President Xi Jinping, who assured mutual cooperation to speed up the approval process for the BioNTech vaccine in China in exchange for a green light for Chinese vaccines in the EU.
Elon Musk’s Twitter Must Abide by EU Rules to Continue Operating in Europe
This Friday, multi-billionaire tech mogul Elon Musk closed his $44 billion Twitter deal, prompting EU official Thierry Breton to warn Musk that Twitter must abide by EU standards regardless of Musk's ambitions for the platform.