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a top republican has accused us regulators of being asleep at the wheel in the period leading up to the implosion of silicon valley bank. those comments in the first of two bruising congressional hearings intended to shed light on the failings that led to the lender s collapse. in response, the regulator pointed the finger at executives saying they did a terrible job of managing risk. we are still reconstructing the supervisory racket, we understand they were issued a matter requiring attention based on the inaccuracy of their interest rate risk modelling. essentially, the risk model was not at all aligned with reality. today, the hearing continues. the collapse of svb and signature bank created shock waves across the global banking sector, with central bankers moving to reassure nations that the structural integrity of the financial system remains intact. joining me now is greg feldberg, director of research for the yale program on financial stability. you were dir ....
and industry execs including elon musk believe so and have signed an open letter calling for a 6 month pause on advanced ai development. that s training sytems more powerful than openai s newly launched chatg pt. and here in the uk, the government has set out its plans to regulate ai with new guidelines on responsible use. critics fear the rapid growth of ai could threaten jobs or be used for malicious purposes but it is boosting economies worldwide. let s get the latest thoughts on all this with sue daley from the industry body techuk. sue, remind us why governments and businesses think ai can do us harm? ai technologies have huge potential to help our economy and our society. to address issues such as increased productivity, help in the climate change emergency, to help people in their everyday lives. there are concerns around how this rapidly evolving technology is having an impact on the way that we live, work and importantly, how do we get this right and notjust an ....
Was this rulemaking on the resolution issue one of them alluded to today as some they plan to go forward with, we will see some of the things we were already going to see, probably new questions asked about liquidity rules, probably new questions asked about the interest rate risk rules at the largest banks follow and whether those are online with others. ., . ., ., others. that committee hearing continues today. shares of chinese e commerce giant alibaba opened 15% higher in hong kong this morning. why? because jack ma s alibaba empire is to be broken up after beijing s crackdown on china s technology sector. the shake up comes a day after mr ma, the 58 year old founder of alibaba, returned to mainland china after several months without an official appearance. his long absence came after he criticised china s regulators in 2020. our asia business correspondent ....
Approach that is agile, adaptable and flexible as these technologies evolve. from the proposal is that we have seen, that is what we have here in the uk. . ~ have seen, that is what we have here in the uk. ., ~ i. ., ., , shares of chinese e commerce giant alibaba opened 15 percent higher in hong kong this morning. why? because jack ma s alibaba empire is to be broken up after beijing s crackdown on china s technology sector. the shake up comes a day after mr ma, the 58 year old founder of alibaba, returned to mainland china after several months without an official appearance. his long absence came after he criticised china s regulators in 2020. our asia business reporter mariko oi has more. well, alibaba is a $220 billion empire, often called china s amazon. and it includes services like cloud computing and entertainment. but they will all be split into six separate business units, and each of them will have the own boss and board members. more importantly, they can also raise money b ....