Market movers in Investments, Tech and Impact world (2023)

Important news and events are happening every day. However, some news are more important than others, such as Warren Buffett's Annual Letter or the recent SVB crash. These important events make enormous news and disappear from our immediate memory as we go about our daily grind. But, these news ought to be regularly remembered for sound decision making. We therefore hope that the news we gather here would be an important and timely reference for you.

If we are missing anything, send us a message on Newnex or email to news@newnex.io.

March 2023

NATO Innovation Fund
1. Investment Management Team HQ to be in Netherlands nato.int/cps/en/natohq/news_213002.htm#hommels

Credit Suisse sold to UBS

1. UBS buys Credit Suisse for $3.2bn - end of an era

cnbc.com/2023/03/19/ubs-agrees-to-buy-credit-suisse-as-regulators-look-to-shore-up-global-banking-system.html

ubs.com/global/en/media/display-page-ndp/en-20230319-tree.html

2. Analysis of the takeover

imd.org/ibyimd/finance/credit-suisse-how-the-mighty-fell

First Republic Bank's woes

1. First Republic Bank secures $30bn of deposits in rescue from other banks bloomberg.com/news/articles/2023-03-16/us-pushes-first-republic-rescue-with-big-banks-after-stock-slump?leadSource=uverify wall

2. SVB contagion affects First Republic Bank wsj.com/articles/first-republic-bank-stock-rescue-what-to-know-a22a3d

Samsung to invest $260bn in world's largest chip making base nationaltechnology.co.uk/Samsung_Worlds_Largest_Chip_Making_Base.php

Larry Fink (Blackrock) letter to shareholders

1. Annual letter to Investors blackrock.com/corporate/investor-relations/larry-fink-annual-chairmans-letter

Credit Suisse collapse

1. Credit Suisse to borrow up to $54bn from Swiss central bank to prop up the bank ft.com/content/adb74b25-ee03-4bdd-8c7a-4dcc6c95fcac

2. Shares in the Swiss lender plunged more than 30% at one point on Wednesday to a record low of about 1.56 Swiss francs (£1.40) a share theguardian.com/business/2023/mar/15/credit-suisse-what-is-happening-at-swiss-bank-and-should-we-be-worried

Silicon Valley Bank crash reverberates across the world

1. European regulators criticise US ‘incompetence’ over Silicon Valley Bank collapse ft.com/content/5e4a8dde-c053-4510-8cd9-8aecb9082a6e

2. SVB’s Collapse Is Causing Chaos in India’s Tech Sector wired.co.uk/article/svbs-collapse-is-causing-chaos-in-indias-tech-sector

3. Bank of England's statement on Silicon Valley Bank bankofengland.co.uk/news/2023/march/statement-on-silicon-valley-bank

4. SVB protected by US regulators cnbc.com/2023/03/12/regulators-unveil-plan-to-stem-damage-from-svb-collapse.html

5. Why was there a run on Silicon Valley Bank? noahpinion.substack.com/p/why-was-there-a-run-on-silicon-valley

6. SVB collapses after failing to raise capital noahpinion.substack.com/p/why-was-there-a-run-on-silicon-valley

7. Banks are designed to fail, and they do ft.com/content/09bfbb8d-22f5-4c70-9d85-2df7ed5c516e

8. SVB collapse explained by Nobel Prize winner finance-yahoo-com.cdn.ampproject.org/c/s/finance.yahoo.com/amphtml/news/economist-won-nobel-bank-runs-160025143.html

Signature Bank collapsed

1. Signature Bank becomes next casualty of banking turmoil reuters.com/business/finance/new-york-state-regulators-close-signature-bank-2023-03-12

UK launches £370m support to make UK a tech super power artificialintelligence-news.com/2023/03/06/370m-plan-launched-to-turn-uk-into-tech-superpower

Cryptobank Silvergate has collapsed

1. Silvergate collapsed theverge.com/2023/3/8/23631320/silvergate-wind-down-liquidiation-announcement

February 2023

ChatGPT race

1. ChatGPT breaks record with 100million users dailyinvestor.com/world/8520/chatgpt-breaks-record-with-100-million-users-and-investors-come-flocking

2. Google invests $300m in ChatGPT rival Claude theverge.com/2023/2/3/23584540/google-anthropic-investment-300-million-openai-chatgpt-rival-claude

3. European Tech Champions Initiative (ETCI) launched along with 5 EU countries (Fund-of-funds) reuters.com/business/five-eu-countries-eib-launch-fund-help-promising-tech-companies-grow-2023-02-13

January 2023

ChatGPT

1. Microsoft confirms $10bn investment in OpenAI/ChatGPT forbes.com/sites/qai/2023/01/27/microsoft-confirms-its-10-billion-investment-into-chatgpt-changing-how-microsoft-competes-with-google-apple-and-other-tech-giants

Carry over from 2022

Inflation Reducation Act (IRA)

1. The Inflation Reduction Act (IRA) is a reconciliation bill that unlocks $370 billion in climate and energy investment in the United States spglobal.com/commodityinsights/en/ci/research-analysis/the-ira-bill-sets-the-ground-for-an-acceleration-of-clean-ener.html

2. The Inflation Reduction Act contains $500 billion in new spending and tax breaks that aim to boost clean energy, reduce healthcare costs, and increase tax revenues. mckinsey.com/industries/public-and-social-sector/our-insights/the-inflation-reduction-act-heres-whats-in-it