MONDAY, APRIL 22, 2024
Economy
Single Loan For Co-op Led Bank Into Crisis
A large loan made by New York Community Bancorp to the sprawling Warbasse Houses co-op complex in Coney Island, which led to significant losses and a near-crisis for the bank, has raised concerns among investors about other potential "ticking time bombs" on regional banks' balance sheets.
TUESDAY, APRIL 24, 2024
Artificial Intelligence
Altman Backs AI-Focused Energy Startup
OpenAI CEO Sam Altman and venture capital firm Andreessen Horowitz have invested $20 million in Exowatt, a startup that aims to tackle the growing electricity demands of AI data centers with a new twist on solar power and energy storage technology.
WEDNESDAY, APRIL 24, 2024
International Relations
U.S. Weighs Penalties On Chinese Banks Over Russia War Aid
The U.S. is drafting sanctions that threaten to cut some Chinese banks off from the global financial system, aiming to pressure Beijing to curb its growing commercial support for Russia's military production, as Washington warns that China's dual-use trade has helped Moscow rebuild its war machine against Ukraine.
THURSDAY, APRIL 25, 2024
Finance
Main Street Bank Model Is Being Squeezed
Regional banks are facing steep profit declines and more pain ahead as higher-for-longer interest rates continue to weigh on their plain-vanilla deposit-taking and loan-making model, with the pressure to pay more on deposits eroding their profitability.
THURSDAY, APRIL 25, 2024
Artificial Intelligence
Shortage Of Parts Impedes Building Data Sites
The frenzy to build data centers to meet the surging demand for artificial intelligence is causing a shortage of the critical parts, property, and power required for these sprawling warehouses of supercomputers, leading to longer wait times and forcing companies to get creative with their site selection.
THURSDAY, APRIL 25, 2024
Green Energy
U.K. Green-Energy Firm Taps Niche in U.S. Offshore Wind
British renewable energy supplier Octopus Energy is investing $10-30 million in California-based Ocergy, a startup focused on floating wind turbines, as it aims to tap into the largely untapped U.S. offshore wind market and scale up renewable power generation in the country.
FRIDAY, APRIL 26, 2024
Economy
U.S. Economy Reigns, and Trouble Lurks
Despite trade wars, the pandemic, inflation and societal division, the U.S. is gaining on its economic peers, with its share of global GDP reaching the highest level in almost two decades, but this economic strength is fueled by concerning factors like government borrowing and rising protectionist pressures that could destabilize the international economy.