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...This year it has been a key player in several high-profile matters including the sale of Credit Suisse to UBS and the restructuring of Silicon Valley Bank....
...The shift makes Citadel Securities the latest financial services company to increase its reliance on Big Tech cloud services and is a win for Google as Silicon Valley companies host more business traditionally...
...“It’s a question of execution under pressure, which people in Silicon Valley refer to as wartime leadership,” says Rob Leathern, who worked on product privacy at Google until March 2023....
...Rising interest rates have hit the valuations of private start-ups, forcing Silicon Valley venture capital firms to shift their focus from raising ever-larger funds to instead ensuring the survival of companies...
...The DMA, by contrast, has taken on the entirety of some of the most prominent digital services in use today. In Silicon Valley, this has been met with deep apprehension....
...It was one of several lenders that came under pressure following the collapse of Silicon Valley Bank in March last year....
...Microsoft has embedded OpenAI’s technology into its own software services....
...Generative AI — systems that spew out text, code, and video in seconds — has opened up a new front in the battle for big tech dominance across Silicon Valley....
...Greater user choice may sound fine in theory, they argue, but it will challenge fundamental aspects of how services work....
...In more recent years he took Silicon Valley by storm by overseeing Tiger’s investments in more than 100 private technology start-ups, including FTX and OpenAI, as it earned a reputation for quickly making...
...Driverless cars are being tested in a handful of other US cities and Alphabet’s Waymo has a commercial service in part of Phoenix and surrounding suburbs....
...Cruise and its rival Alphabet-owned Waymo were granted permission by the California Public Utilities Commission in August to run driverless taxi services throughout the city....
...Among the draws are the two-year-old Munch Museum on the waterfront, which displays the world’s largest collection of art by Edvard Munch; the state-owned National Museum of Art in Norway, which opened last...
...In the US, Cruise has been racing against Tesla and Waymo, part of Alphabet, to develop robotaxi services, and parent GM has set an ambitious revenue target of $1bn by 2025....
...Roughly 80 per cent of PBB’s cover pool — the collection of assets backing its covered bonds — is made up of commercial real estate mortgages....
...Once-high flying institutions such as Credit Suisse, First Republic and Silicon Valley Bank crumbled and a drought of deals has caused mass investment banking lay-offs....
...Some of Silicon Valley’s top engineers have spent the last decade writing code for driverless cars to expertly manoeuvre around the most complex streets in San Francisco....
...Tech companies are quick to warn that messing with their current way of doing business could threaten free internet services and low-price digital goods that have been popular with millions of consumers....
...A vote to consider Waymo’s request to collect fares and Cruise’s application to run a daytime service has been postponed to mid-July....
...Customers will rarely turn down an invitation to talk about the superior sound of vinyl and the evils of streaming services, but what seems to matter more are the ancient rituals of collecting....
...The service is focused and friendly....
...Gomez is interested in applying large language models to business problems from banking and retail to customer service. “For us, it’s about lowering the barrier to access,” he says....
...Carter’s career in the Egyptian Antiquities Service was not always as dazzling. He objected to what he saw as its excessive control....
...The deal was finalised as markets unravelled during the failure of Silicon Valley Bank and as other potential bidders bowed out....
...SVB Financial Group, the parent holding company of Silicon Valley Bank, filed for bankruptcy in March after SVB had been taken over by the FDIC amid a $42bn run on deposits by customers....
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