March 10, 2023

Luxury home sales plunge 45%, with Miami and the Hamptons hit hardest

March 10, 2023 admin

Homes at Rivo Alto Island in Miami Beach, Florida, US, on Wednesday, Feb. 1, 2023. Eva Marie Uzcategui | Bloomberg | Getty Images The U.S. housing market is taking a hard hit from higher mortgage rates, and luxury home sales are seeing the worst of it. Sales of luxury homes dropped 45% during the three months ended Jan. 31 compared with the same period the year before, according to Redfin, a real estate brokerage. Redfin defines luxury homes as those estimated to be in the top 5% based on the…

Meet the brothers building massive spacecraft to leverage SpaceX’s Starship

March 10, 2023 admin

Cofounders and brothers Karan Kunjur, left, and Neel Kunjur. K2 Space A pair of brothers is aiming to challenge the way spacecraft are built, by going against the industry trend and designing massive satellites in a bet that towering rockets such as SpaceX’s Starship are the way forward. Los Angeles-based startup K2 Space, co-founded by CEO Karan Kunjur and CTO Neel Kunjur, is setting out to build satellite buses — the physical structure of a spacecraft that provides power, movement and more. While manufacturers have recently pushed to optimize spacecraft…

Venture capitalists urge startups to withdraw funds from crisis-laden Silicon Valley Bank

March 10, 2023 admin

Venture capital firms on both sides of the Atlantic have been urging their portfolio companies to move money out of embattled lender Silicon Valley Bank, deepening fears of a run on the tech-focused bank. Silicon Valley Bank shares plunged 60% Thursday after disclosing that it needed to shore up its capital with a $2.25 billion equity raise from investors including General Atlantic. The company’s stock was down another 60% in premarket trading Friday. SVB is a major bank in the technology startup space, having developed relationships with the VC community over…

Astra investigating ‘potential illegal short selling’ as delisting deadline looms

March 10, 2023 admin

Astra CEO Chris Kemp speaks inside the company’s headquarters during the company’s “Spacetech Day” on May 12, 2022. Brady Kenniston / Astra Spacecraft engine manufacturer and small rocket builder Astra announced on Friday that the company is investigating “potential illegal short selling” among shareholders of its common stock. The company said it hired financial software firm ShareIntel to assist with its review of “suspicious, aberrant or unusual trading activity.” “Astra remains committed to protecting our investors and maximizing stockholder value,” Chairman and CEO Chris Kemp said in a statement. Sign…

Silicon Valley Bank Financial in talks to sell itself after attempts to raise capital have failed, sources say

March 10, 2023 admin

This is breaking news. Please check back for updates. The Silicon Valley Bank mobile app logo on a smartphone arranged in Riga, Latvia, March 10, 2023. Andrey Rudakov | Bloomberg | Getty Images SVB Financial, parent of Silicon Valley Bank, is in talks to sell itself, sources told CNBC’s David Faber. Attempts by the bank to raise capital have failed, the sources said. Large financial institutions are looking at a potential purchase of SVB. Shares of the bank fell 60% on Thursday after SVB announced a plan Wednesday evening to…

ESS Global Opens An Office In Noida

March 10, 2023 admin

ESS Global, a name reckoned with overseas student services has opened up an office in Noida. This franchise office has started its operations from plot no. 19, Sector 127, Noida. This office is a part of organisation’s expansion plans owing to the demand for a good consultancy dealing in student visa, tourist visa, permanent resident visa and skilled base visa services in the NCR. With years of exemplary services in the field of student visa services for countries including Canada, Australia, Uk and other European countries , ESS Global…

US-based Satellite Provider Unveils Jupiter 3

March 10, 2023 admin

US-based satellite provider, Hughes Network System notifies Jupiter 3, a massive geostationary communications satellite built by Maxar Technologies, according to a media report on Friday. Amidst the industry focusing on increasing the packing capability into small satellites, Jupiter 3 is a reminder of large spacecraft and remains important for certain applications. The size of Jupiter 3 is about the size of a standard school bus with its antennas and solar panels stowed. The satellite roughly weighs nine metric tons and is designed to offer 500 gigabit-per-second Ka-band capacity for North and…

WE Hub And Tide’s Sarthika To Operationalise Govt Schemes For Women MSMEs

March 10, 2023 admin

Telangana’s state-led incubator for women entrepreneurs WE Hub and the UK-based SME-focused business financial platform Tide have initiated the ‘Sarthika’ programme to bridge the information and last-mile delivery gaps in state and central government schemes for women-led micro, small and medium-sized enterprises (MSMEs). Through this initiative, Tide aims to reach women entrepreneurs across India and enhance the ease of doing business by improving access to information and the uptake of public schemes and initiatives, it said in a statement. Notably, Sarthika web portal will work with the cohort at the…