On 31 January, New York Community Bancorp’s (NYCB’s) share price plunged by a record 38 percent after the company announced it will make sharp cuts to its stock dividend and hoard cash.
Author: admin (Kendrick Williams)
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TOP TREND 2023, OFFICE BUILDING BUST: STERNLICHT FORECASTS $1 TRILLION IN LOSSES
“The office market has an existential crisis right now,” Barry Sternlicht, CEO of real estate investment fund Starwood Capital Group, said on 30 January at the iConnections Global Alts conference.
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SPOTLIGHT: WAR IN THE RED SEA—THE ECONOMIC IMPACT
Ship traffic through the Suez Canal has fallen to about 75 vessels a week during the first half of January, compared to roughly 200 a year earlier.
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SAUDI ARAMCO ABANDONS PLAN TO EXPAND OIL PRODUCTION CAPACITY
The Saudi Arabian Oil Co. (Aramco), the world’s richest oil firm, has scrapped plans to boost its production capacity by 13 million barrels a day by 2027. It offered no reason for the decision.
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THIS WEEK IN SURVEILLANCE
Meta (parent company of Facebook) may have been saturating the airwaves with commercials conditioning us all to the inevitability of life in the metaverse.
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ITALY SAYS OPENAI IS VIOLATING EU LAWS REGARDING HUMAN DATA PRIVACY AND OWNERSHIP
The data protection authority (DPA) of Italy says that OpenAI likely violated the EUs landmark GDPR data protection and privacy laws in the development and training of its ChatGPT generative AI system.
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GROSS MISCONDUCT—THE FINAL NAIL IN THE COFFIN FOR ANTIDEPRESSANTS
According to medical journalist Robert Whitaker, author of “Mad in America” and publisher of madinamerica.com, the widely-made claim that antidepressants work for nearly 7 out of 10 real-world patients is based on research misconduct and scientific fraud.
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DOLLARS, GOLD, BITCOIN AND PRICE MOVEMENTS
A new study has tracked ways in which price fluctuations characteristically affect the relative relationship of the U.S. dollar, gold and bitcoin.
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BOOM IN AI STOCKS MASKS WEAKNESS IN DEMAND FOR OTHER CHIPS
The past year’s frenzy in artificial intelligence has doubled, at least, the market capitalization of Nvidia and Advanced Microdevices, the companies dominating sales of chips AI systems depend on, and their suppliers such as Taiwan Semiconductor Manufacturing Co. and Supermicro.
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THEY GAVE AI A SENSE OF CURIOSITY AND TURNED IT INTO A COUCH POTATO
Researchers from OpenAI, the University of Edinburgh, and the University of California Berkeley decided to see what would happen if AI had a sense of curiosity.