Day: March 13, 2023

Volkswagen and PowerCo to build North American battery factory in Canada

Volkswagen Group and its battery company PowerCo have picked Canada for its first overseas battery cell factory. The plant, located in St. Thomas, Ontario, will produce battery cells beginning in 2027, according to the German automaker. PowerCo, a VW company that launched in July 2022, will handle the automaker’s global battery business, including sourcing raw […]

Best Stocks to Buy Now for Long-Term Investors

If you have been trading in the stock market for quite some time now, you are well aware that you have to play every card right to see a solid return on your investments. While it’s quite difficult to pinpoint towards which strong companies you should direct your funds, following the tried and true methods […]

Mercury expands FDIC insurance up to $3M through new Vault product

Immad Akhund, CEO and co-founder of Mercury, told TechCrunch that his team worked on the new product, called Mercury Vault, over the weekend.  Customers, existing and new, with more than $3 million in their accounts will be prompted to move funds into Mercury Treasury’s Vanguard money market funds, which are 99.5% invested in U.S. government-backed […]

Some international regulators froze assets of local SVB branches

While Silicon Valley Bank officially operated across several countries, most of its international operations consisted of offices or representative offices with local teams. In other words, banking operations were ultimately handled by Silicon Valley Bank in the U.S. Silicon Valley Bank’s U.K. subsidiary had representative offices in the Nordics — Denmark and Sweden more specifically. […]

Meta winds down support for NFTs on Instagram and Facebook

Looks like Meta is NGMI, as some might put it. Meta’s head of commerce and financial technologies Stephane Kasriel posted on Twitter that the company will sunset its NFT and digital collectibles features on Instagram and Facebook. “We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and […]

Aether wants to shift you from blood diamonds to gems pulled from thin air

“The only thing transparent in this industry are the stones,” says Ryan Shearman, CEO of Aether Diamonds in an interview with TechCrunch. “There is no supply chain on planet Earth that’s fully traceable with respect to mined diamonds. And the same goes for a lab-grown diamond; it’s better when you’re talking about a lab-grown diamond, […]