The BBC said Gary Lineker will return to host “Match of the Day” next weekend and has agreed to steer clear of commenting on controversial issues while an independent review of the corporation’s social media guidelines is carried out. The BBC’s Director General Tim Davie apologised for “potential confusion caused by the grey areas” of its social…
China Secures Australian Lithium For Almost 70 Percent Below Market Value
March 13, 2023
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AustraliaBusiness & MarketsChinaChina Business & EconomyChina-Australia RelationsCompaniesenergyInternational Relationslithiumlithium miningWorld
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An Australian mining company with links to China has been subject to a state government inquiry for selling lithium around 70 percent below the current market prices despite being under administration. Alita Resources, which operates the Bald Hill lithium mine in Western Australia via its subsidiary Lithco, is expected to export 150,000 tonnes of lithium…
Regulators Announce Closure of NY’s Signature Bank, Which Held Significant Crypto Stakes
U.S. regulators on Sunday announced they were closing Signature Bank, marking the second U.S. bank to fail days apart and the third-largest bank failure in U.S. history. According to a December 2022 securities filing, N.Y.-based Signature Bank held more than $110 billion in assets and some of the biggest stakes among banks in the nation in…
Government Steps In With Plan to Protect All Deposits at Silicon Valley Bank
March 12, 2023
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Business & MarketsCompanieseconomic policieseconomyExecutive BranchPoliticsSilicon Valley BankSVBUSUS News
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Banking regulators announced an emergency measure on Sunday to fully protect deposits at Silicon Valley Bank, a critical move in averting a panic over the bank’s collapse. U.S. Treasury Department, the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) have revealed the plan in a joint statement. “Today we are taking decisive actions to protect the…
US Officials Working to Ensure ‘Contagion Can’t Occur’ After SVB Crisis, Yellen Says
March 12, 2023
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Business & MarketsCompanieseconomic policieseconomyExecutive BranchJanet YellenPoliticsSilicon Valley BankSVBUS
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Treasury Secretary Janet Yellen on March 12 confirmed that the U.S. government will not bail out Silicon Valley Bank (SVB), but she conceded that officials must prevent a contagion effect in the financial system. Since the collapse of SVB, there have been widespread contagion fears, with some experts warning that this could impact small and…
Saudi Aramco Reports Record Profit of $161.1 Billion in 2022
DUBAI—Saudi Arabian oil giant Aramco on Sunday reported a record annual net profit of $161.1 billion for 2022, up 46 percent from the previous year on higher energy prices, increased volumes sold, and improved margins for refined products. The profits, which are around triple that of Exxon’s $56 billion, follow similar reports in February from…
Windfall Taxes Just Add More Problems to the Energy Crisis
March 12, 2023
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AustraliaBusiness & MarketsCompanieseconomic policiesenergyInternationalOpinionViewpointswindfall taxWoodsideWorld
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Commentary If there is one sin worse today than producing fossil fuels, it is making money while doing it. The Australian energy industry is looking on with apprehension at repeated calls for so-called “windfall profit taxes.” There is no predicting the current government, which has shown zero circumspection against interference in energy markets at any…
US Treasury Secretary Announces No Federal Bailout for Silicon Valley Bank
Treasury Secretary Janet Yellen announced Sunday that the federal government wouldn’t bail out the now-collapsed Silicon Valley Bank (SVB) but said it will work to aid depositors who are worried about their money. During a Sunday interview with CBS News’ “Face the Nation,” Yellen did not provide many concrete details about what her agency or…
Biden Admin Makes Major Announcement After Silicon Valley Bank Collapse
Treasury Secretary Janet Yellen announced Sunday that the federal government wouldn’t bail out the now-collapsed Silicon Valley Bank (SVB) but said it will work to aid depositors who are worried about their money. During a Sunday interview with CBS News’ “Face the Nation,” Yellen did not provide many concrete details about what her agency or…
Federal Government Has 48 Hours to Fix ‘Irreversible Mistake,’ Billionaire Says
Several billionaires issued warnings over the weekend after the Silicon Valley Bank suddenly collapsed late last week and forced the federal government to step in. Billionaire investor Bill Ackman wrote Saturday that the federal government had about two days to fix the problem—by Monday morning. He noted that a number of depositors may not see…
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