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Why America's oldest bank launched a crypto custody service
Nov 13,2023
The Bank of New York Mellon Corporation (BNY Mellon) has gone live with an electronic platform that stores and protects cryptocurrencies, including bitcoin and ether. The 238-year-old bank's new Digital Asset Custody platform currently allo...
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16 Wall Street firms fined $1.8B for using private text apps, lying about it
Nov 13,2023
The US Securities and Exchange Commission (SEC) has fined big-name banks and brokerages a collective$1.8 billion over workers' use of private texting apps to discuss work and for not always saving those messages. The fines include$1.1 billion assesse...
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Micron to build largest chip factory in US history
Nov 13,2023
Chipmaker Micron Technology announced today it will spend$20 billion to build what it called the largest ever US semiconductor factory, and it may spend up to$100 billion over 20 years to expand it. The fabrication plant, to be located in Onondaga Co...
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Will the CHIPS Act really bring back semiconductor production and tech jobs?
Nov 13,2023
The US, where semiconductors were invented, was producing 37% of the world's supply of chips as recently as the 1990s. But only about 12% of all computer chips are produced domestically now.  That decline in domestic chip production was exposed ...
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Would a US digital dollar let the government track you?
Nov 13,2023
US legislators continue to press for the creation of a digital dollar, raising questions about whether the move could make it easy for the federal government to track business and consumer transactions. Putting all the digital dollars on one electron...
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Apple hits the brakes on plans to use Chinese memory chips
Nov 13,2023
Apple won't use Chinese-made NAND flash memory in its forthcoming iPhone models, in an apparent response to tighter US export controls affecting the supply chain, according to a report published today by Nikkei Asia. The company had planned to begin ...
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Corporate execs confident on sustainability goals, admit more work needed
Nov 13,2023
About six in 10 executives believe they can achieve their corporate sustainability goals over the next year, according to a recent global survey commissioned by Honeywell International. But only about 16% think they'll do so primarily throu...
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FTX meltdown likely to spur crypto regulations, cool digital currency push
Nov 13,2023
The crash last week of FTX, one of the world's leading cryptocurrency exchanges, is likely to push lawmakers to create central oversight of an otherwise unregulated marketplace. And while cryptocurrencies like those traded on FTX are different from o...
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As reshoring brings chipmakers back to the US, Apple looks to jump on board
Nov 13,2023
Apple is expected to get about one-third of its future processors from a new semiconductor fabrication facility set to be in production in 2024, according to a report by Bloomberg. The new$12 billion fabrication plant, being built by Taiwan Semi...
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US Congress rolls back proposal to restrict use of Chinese chips
Nov 13,2023
The US Congress is rolling back proposed legislation that would place restrictions on the use of Chinese-made chips by the government and its contractors, after  companies argued that the measures would raise costs. While the draft legislation s...
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Apple accelerates plans to move more manufacturing out of China
Nov 13,2023
Apple's global supply chain management strategy appears to be shifting quickly to reduce its dependence on China for iPhone and MacBook product assembly. The move is part of a larger trend toward deglobalization, or reducing interdependence between b...
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US-China chip war puts global enterprises in the crosshairs
Nov 13,2023
As the US-China trade war escalates, with President Joe Biden's administration issuing sweeping restrictions on exports of chip technology, enterprises in different economic sectors worldwide are bound to get caught in the crossfire between the world...
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