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First Citizens buys Silicon Valley Bank following a run on the lender

The lender said it will assume $56 billion in deposits and 17 legacy branches will begin operating Silicon Valley Bank, a division of First Citizens

Indian banks to gain $36 bn in deposits as mutual funds get taxed

The move comes as a respite for the financiers as the widening gap between credit off-take and deposits has sparked risks of asset-liability mismatches and pushed up funding costs

SoftBank-backed Oyo Hotels to reduce planned IPO amid tech headwinds

It's the second attempt at an IPO by the SoftBank Group Corp.-backed startup, after India's stock market regulator raised multiple red flags on its earlier try in late 2021

South Korea to surpass China in chip machine spending next year, shows data

Korea will likely increase its investment in fab equipment by 41.5% to $21 billion in 2024 while China logs only a 2% increase to $16.6 billion

Amazon, Google scramble to keep pace with OpenAI despite huge AI teams

The numbers underscore how seriously the world's biggest technology firms have been taking their work on artificial intelligence, but also how slow and cautious they have been to create services

India mulls building LNG reserve to avoid future price hike or shortages

The government has proposed we should have more storage space for LNG so that when prices are lower we should store, and supply when there is crisis

India's shrinking current account gap provides a reprieve for Rupee

Barclays Plc expects the gap in current account - the broadest measure of trade in goods and services - to be 1.8% of gross domestic product in the year starting April 1

Here's why turmoil in China's mega EV industry may spark a shake-up

The boost part, though, is looking a bit tenuous for both established and EV firms

China foreign minister says nation's recovery to benefit US companies

Qin Gang, Foreign Minister, China, welcomed US firms to keep expanding investments in China and to set roots in the country

Ageing shadow fleet carrying Russian oil poses disaster risk: Report

The aftermath of European Union sanctions on Russia mean that the Turba has been enlisted into a vast shadow fleet carrying Moscow's oil around the globe

Taiwan loses ally of eight decades after Honduras recognises China

The move comes before Tsai starts a visit this week to allies such as Guatemala and Belize, and stops in the US

Billionaire mining tycoon Anil Agarwal fights to clear Vedanta's debt

Vedanta's quest to raise cash comes during a rocky time for India's business elite. Highly leveraged conglomerates are under increased scrutiny after a short seller accused Gautam Adani

Starlink rival OneWeb completes fleet to offer global broadband coverage

OneWeb Ltd. launched the final 36 satellites of its initial 616-satellite "constellation," allowing the rival of Elon Musk's Starlink to offer global broadband coverage this year

Government hasn't intervened in Adani's tussle with US short seller: Sanyal

The "government has not intervened anywhere," Sanyal, a member of prime minister's economic advisory council, said in an interview in New York

Gen Z's clean living means decline in 'sin tax' by £14 bn for UK

Revenue from tobacco now makes up just 1% of total public sector receipts, down from 1.9% two decades ago. Alcohol brings in 1.3% of receipts, shrinking from 1.7%

Microsoft threatens to cut off access to data from rival AI search tools

These search chatbots aim to combine the conversational skills of ChatGPT with the information provided by a conventional search engine

Trump predicts 'death and destruction' if he's indicted in hush-money case

Trump asked how a former president could be charged with a crime given that "potential death & destruction in such a false charge could be catastrophic for our Country?"

570,000 Kias, Hyundais recalled due to fire risk. What to do if you own one

Vehicles should be parked away from homes even if they are turned off because they could experience an electrical short that could start a fire, US National Highway Traffic Safety Administration said

Meta Platforms Inc sued by its home county over social media addiction

Issues around social media addiction were highlighted at a Congressional hearing Thursday

CPPIB exploring buying out ReNew Energy shareholders, making firm pvt

Canada Pension Plan Investment Board is exploring buying the shares of ReNew Energy Global Plc that it doesn't already own and taking the Nasdaq-listed firm private