President Joe Biden has said that investors in the collapsed Silicon Valley Bank will "lose their money" because "that's how capitalism works." In a prepared address, Biden assured the American people that he has confidence that the U.S. banking system is safe. The president outlined his administration’s plan surrounding Silicon…

Regulators have shut down New York's cryptocurrency-focused Signature Bank in an effort to prevent the banking crisis from spreading. The banking regulators cited "systemic risk" in a statement announcing the move on Sunday evening. "We are also announcing a similar systemic risk exception for Signature Bank, New York, New York,…

The Dutch government agreed to block the Chinese Communist Party (CCP) from gaining access to chip manufacturing technology. The move heats up a longstanding conflict over semiconductors with China. CCP authorities have slammed The Hague over the move and accused the European Union state of siding with the United States…

The U.S. economy added 311,000 new jobs in February, according to the latest figures. Economists had projected 205,000 new positions last month. However, the number was down from 504,000 in January, according to the Bureau of Labor Statistics (BLS). The unemployment rate climbed to 3.6 percent, up from 3.4 percent,…

The Federal Trade Commission (FTC) has allegedly demanded that Elon Musk hands over internal information about Twitter. The federal agency has reportedly demanded internal communications and information about layoffs, according to a House Judiciary Committee report. The demands were made as part of an FTC investigation into the social media…

This week, senators and representatives have held separate hearings regarding the perils and promises of artificial intelligence (AI). The move signals lawmakers’ growing regulatory appetite in the wake of actions on the technology from the Biden administration. "AI is no longer a matter of science fiction nor is it a…

U.S. National Security Agency Director Paul Nakasone has warned that the Chinese Communist Party-linked social media app TikTok is influencing American children. During testimony delivered before the Senate Armed Services Committee on March 7, Nakasone said he is concerned about what data TikTok may be collecting on U.S. users. Nakasone…