Moody’s latest deposit rating cut for New York Community Bank sparks concerns about retaining deposits. The bank’s main subsidiary faces a downgrade to Ba3, three levels below investment grade. Analysts predict potential contractual obligations from business clients, while the bank’s stock plummets amid a 73% decline this year. With deposits under scrutiny, concerns arise about flight of funds and the bank’s ability to maintain operations amidst the rating downgrade. (CNBC)
Tech Titans AMD and Nvidia Clash Over AI Chip Dominance”
As artificial intelligence drives a surge in chip demand, industry giants AMD and Nvidia vie for dominance. Deloitte predicts AI chip sales will surpass $50 billion in 2024, with Nvidia’s recent market surge adding…
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