Australia’s corporate regulator has placed at the top of its agenda the regulation of artificial intelligence development in the financial markets amid the “new and different ” risks attached to the quickly evolving technology, partly driven by the fear of being “left behind”. In a recent speech at a financial markets forum, Australian Securities and…
AI Is a High and Important Priority: Australian Financial Market Regulator
June 28, 2023
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AI regulationsartificial intelligenceartificial intelligence (AI)AustraliaBusiness & Marketsfinancial marketsTechWorld
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Is Your Bank Safe Now?
March 19, 2023
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banking systemBusiness & MarketsBusiness Columnistsfinancial marketsFirst RepublicOpinionSVBViewpoints
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Commentary One week ago Sunday, the Federal Reserve Board, alongside the FDIC and the U.S. Treasury, announced plans—in the wake of the failure of Silicon Valley Bank (SVB)—to provide liquidity to U.S. banks in an attempt to “bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and…
Is Your Bank Safe?
Commentary Silicon Valley Bank (SVB), the country’s sixteenth-largest bank with $209 billion in assets, failed on Friday in one of the most shocking developments to hit the banking sector since the global financial crisis fifteen years ago. SVB’s claim to fame was its deep connection to the venture capital and tech community of Silicon Valley, boasting…
Australian Stock Market Finishs 2022 Down 5.45 Percent
The local share market has ended a dismal year with a bit of a whimper. After being up as many as 53 points in early trading and again close to that by late afternoon, the benchmark S&P/ASX200 index fell steadily in the final 30 minutes of trading to close Friday up just 18.6 points, or…
Has the Big Tech Bubble Burst?
October 31, 2022
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Commentary The extraordinary gains on Wall Street from Oct. 28 were stunning, but it’s the details that matter. What didn’t participate in the sudden exuberance were the tech stocks that have performed so well over the past three years and even dating back to 2009. The enthusiasm was all about value stocks, those old-fashioned companies…
The Deep State Plays the Financial Markets
Commentary The least-investigated part of the federal government is the senior civil service. It’s invisible to mainstream media mostly because reporters rely heavily on career bureaucrats for reporting and tips. Therefore, they leave it alone for career reasons. It becomes a kind of cabal with each side protecting the other. The administrative state is easily…
Financial Conditions Are Tightening
Commentary Retail investors continue to eagerly buy every dip or decline in stocks in hopes that stock prices will soon make new all-time highs. While they’re throwing money at stocks, they can’t see the warning signs that financial conditions are tightening. When financial conditions become too tight, risk assets tend to crash. Investors are willfully…
Israel’s Finance Ministry Leads 10 Countries in Simulation of Cyber Attack on Global Financial System
December 10, 2021
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Business & Economycyber securityeconomic policieseconomyfinancial marketsIMF - International Monetary FundInternationalMarketsTechWorld
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The Israeli Ministry of Finance hosted a simulation of a major cyberattack on the global financial system on Dec. 9, with representatives from ten countries and other financial institutions, in a multinational security exercise called “Collective Strength.” The exercise was aimed at increasing international “cooperation that could help to minimize any potential damage to financial markets and banks,”…
Australian Reserve Bank Warns of ‘Sharp Correction’ in Financial Markets
November 23, 2021
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Asia & PacificAustraliaAustralian economyBusiness & Economyfinancial marketsinflationReserve Bank of Australiasecurity marketWorld
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The current historically low-interest rate has increased the risk of a looming “sharp correction,” the Reserve Bank of Australia (RBA) warned. In her keynote address, Marion Kohler, the head of the domestic markets department at the RBA, told the Australian Securitisation Forum that the central bank was keeping an eye on security markets. “One area…
Former Sen. Adlai Stevenson III Dies At 90
Former Illinois Sen. Adlai Stevenson III, a Democrat, has died at the age of 90, his family has confirmed. His son Adlai Stevenson IV said the Illinois Democrat had passed away at his North Side home in Chicago on Monday, and added that he had dementia. “He just faded away,” his son told the Chicago Sun…
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