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 Elaine Lang.
EU’s Decision on Chinese EVs and Germany’s Response
On Friday October 4, 2024, the European Union (EU) finished voting on the proposed tariffs on Chinese electric vehicles (EVs). While countries like Hungary and Germany vocally disagreed to this proposition, a majority of EU countries had already voted in favor of the tariffs. The tariffs are only the beginning of a potential long-lasting economic cold war between China and the West.
New Standard Mandates Banks to Report Emissions Involving Stocks and Bonds Underwriting
On Friday, Dec. 1, the Partnership for Carbon Accounting Financials (PCAF) launched the first Global GHG Accounting and Reporting Standard for Capital Markets, a new standard that will account for carbon emissions associated with capital markets deals done by banks across the world.
A New Era of Uncertainty?
Analysts believe that what is happening now is a shift in the market narrative. A fear of higher-for-longer interest and bond rates has turned into increasing hope for rate cuts and a gentle economic landing, with low inflation data throwing that shift into overdrive.
What’s The Future of Work After WeWork?
What started out as a revolution in how people work has ended in a burst of flame as WeWork filed for bankruptcy last week. The co-working company, which was once valued at $47 billion, faced increasing obstacles that eventually proved too difficult to overcome, causing the stock to fall by around 99%. At the time of its bankruptcy, WeWork was only worth $50 million.
Reshaping Tech Power: An Overview of the US v. Google Antitrust Trial
Since paying for default status in 2005, Google has overpowered the tech industry as the search engine of choice for internet users. Now, Google’s dominance is giving rise to major lawsuits from the US government, centering on Google’s alleged market manipulation to uphold its status.
Markets Cheer The End of A Troubled Era
Thursday marked a period of raucous celebration on Wall Street, as comments from the Federal Reserve on Wednesday increased hopes of an end to a two-year long period of rapid rate hikes.
Biden’s Executive Order to Establish Regulations for Artificial Intelligence Usage
On Monday, Oct. 30, President Biden outlined the first federal regulations over the use of artificial intelligence (AI) systems. In light of AI becoming a fast-growing sector, Biden’s executive order seeks to oversee AI research and enforce AI testing requirements, in order to prevent the potential development of weapons or supercharged cyberattacks.
Testing Economic Alliances: The US and Europe fail to move past Trump-Era Tariffs
The United States and Europe have historically been close allies, sharing common values, strategic interests, and extensive economic ties. However, Biden’s reluctance to eliminate the existing trade tariffs imposed by the former Trump administration has caused a rift between the two economic powerhouses.
Big Tech’s Meltdown
Wednesday, Oct. 25, was supposed to be a celebration for tech investors — the earnings report of two of the largest tech companies in the world exceeded expectations in both revenue and profit.
Russia Announces Rate Hikes Amidst Budget Constraints and Geopolitical Conflicts
On Friday, Oct. 28, the Bank of Russia announced an interest rate hike by 200 basis points, raising the rate to 15 percent, higher than most experts' predictions. The announcement is the fourth consecutive rate hike from Russia in response to weak rubles, inflationary pressure, and increased government spending.
Inside A Controversial British Healthcare Contract
The United Kingdom’s National Health Service has recently been exploring ways to improve its data management systems.
UAW Doubles Down On Strikes, With Growing National Consequences
United Auto Workers President Shawn Fain started the week by lauding productive talks with Ford, strikes by the UAW began to expand to other companies as the week progressed, as well as into some of Ford’s core facilities.
China's Trade Activities Show Slower Decline; Deflationary Pressure Remains
The State Council of China released the national trade report for September 2023, which signaled a slowdown in the previous export slump. But concerns for policymakers remain as lingering deflationary pressure still challenges economic recovery.
How Israeli Start-Ups Are Shaping the Modern Battlefield in the Israel-Hamas Conflict
Prior to the war, Israel’s tech start-ups were already facing a rough year in funding due to the downfall of major lender Silicon Valley Bank, global recession trends, and rising borrowing rates.
Protest Continues in Berlin as Germany Shuts Down its Last Three Nuclear Plants
On Friday, April 21, a climate protest saw hundreds of activists from the group Last Generation gather at a major road east of Berlin.
Apple Joins Fellow Tech Giants by Falling Victim to the Layoff Epidemic
In response to the post-pandemic hiring binge and fear of a slowing economy, tech giants have decided to cut back on thousands of jobs.
UBS to buy CS for $3.3 Billion Amidst Small-Medium Banks Crisis
On Sunday, March 19, UBS announced the acquisition of Credit Suisse in a 3.3 billion francs ($3.2 billion) Swiss-government-brokered deal, ending the Credit Suisse Crisis and the ongoing banking confidence collapse that has spread across the global financial market, especially in small-medium banks.
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.
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.
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.