Billionaires Bill Gates and Jeff Bezos are betting on the New York-based Synchron as the answer to Elon Musk’s Neuralink. Founded by Australian professors Tom Oxley and Nick Opie, the company on Dec. 16 announced it had closed a $110 million Series C funding round involving Bezos Expeditions, Gates Frontier, and ARCH Venture Partners. The Synchron…
Gates, Bezos Invest in Australian-Designed Brain Implant
December 16, 2022
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US Experts Worried About China Cornering Market for Old-Gen Chip Technology
December 15, 2022
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With Chinese firms increasingly focusing on boosting the production of older generation chips, experts in the United States and the Western world more broadly, are worried about the development posing a significant international security threat. Older generation chips are still critical for various technologies. For instance, 28-nanometer chips have been in use since 2011 in…
Existing Home Sales Expected to Drop Next Year to 11-Year Low
December 14, 2022
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Existing home sales in the United States will likely drop in 2023 to an 11-year low. Sales of previously owned homes will fall for a second year in 2023 to their lowest annual total since 2012, when the housing market was still recovering from the subprime mortgage crisis of 2008–09, according to the National Association of…
Nuclear Fusion ‘Breakthrough’ Touted by White House, Drawing Praise and Some Skepticism
December 13, 2022
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It was 1:03 a.m. on Dec. 5 that experimental physicist Alex Zylstra first spotted it: for the first time, a target yielded more energy from a fusion reaction than a laser put into it—though that’s not counting the much greater input energy that was needed to power the laser in the first place. “One of…
US Solar Installations to Fall 23 Percent This Year Due to Ban on Chinese Goods: Report
December 13, 2022
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New solar power installations in the United States are expected to fall by nearly a quarter this year due to a ban on parts from China. Solar equipment imports have been curbed by a ban on goods from the Xinjiang region of China over allegations over the forced labor of Uighur conscripts, according to a…
FTX Founder Sam Bankman-Fried Charged With Fraud
December 13, 2022
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The Securities and Exchange Commission (SEC) has charged Sam Bankman-Fried, founder of failed crypto exchange FTX, with “orchestrating a scheme to defraud investors.” Bankman-Fried was arrested earlier on Monday, with the SEC issuing a statement on the same day that accused the former crypto boss of building a “house of cards” built on lies. “We…
FTX Founder Sam Bankman-Fried Faces Criminal Charges
December 13, 2022
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Sam Bankman-Fried, founder of failed crypto exchange FTX, faces a litany of civil and criminal charges, including conspiracy to commit money laundering and wire fraud. Following Bankman-Fried’s arrest in the Bahamas on Monday, three U.S. agencies—the Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), and the U.S. Attorney for the Southern District…
UK Government Intervenes in Chinese Takeover of Shell Company Over Risks to National Grid
December 13, 2022
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The UK has imposed restrictions on the Chinese takeover of a shell company worth £1, saying the move mitigates national security risks. In a notice of final order (pdf) published on Dec. 6, the Department for Business, Energy & Industrial Strategy (BEIS) said Business Secretary Grant Shapps considers the takeover of XRE Alpha Limited by China Power International Holding…
ESG Funds Underperforming S&P 500, Streak Expected to Continue Through 2023
December 13, 2022
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Several investment funds that adhere to environmental, social, and governance (ESG) policies have performed worse than the S&P 500 index this year, with the underperformance of such funds potentially set to continue through 2023 as well. A Bloomberg analysis of the 10 largest ESG funds by assets reveals that they have all registered double-digit losses….
The 2023 Investing Outlook as the Fed Pivots—Part II
Commentary In Part 1, I suggested a weaker dollar may not lead to the bullish outcomes many investors expect in 2023. I will build on that thesis here in Part II, and bonds will win in the first half of 2023 and stocks in the second half. The big question heading into 2023 is the dreaded…
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