Australia to Buy Nuclear-Powered Submarines for the U.S.

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Australia is going to buy up to five U.S. nuclear-powered submarines, America's so-called Virginia-class boats. This is as a way of bridging a capability gap for when its existing Collins boats come out of service. All told, Australia could be buying about 16 submarines. And if all goes according to plan, it would mean lots of jobs and shipyards around the world.

The world’s largest private investment firms are exploring the purchase of loans from the remains of Silicon Valley Bank, the Federal Reserve is caught between high inflation and financial instability, and US regulators are facing questions over whether they missed signs of mounting problems at SVB. Plus, Australia, the US and the UK announced details of a long-term plan to supply Australia with nuclear-powered submarines.

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