Amidst the wreckage of bank failure grow lucrative deals. Shares of New York Community Bank Inc. surged with the announcement that the FDIC had made NYCB a “sweetheart deal” as the deposit insurer “priced the assets to move quickly,” wrote Wedbush analyst David Chiaverini in his upgrade of the stock, as reported in Bloomberg.
After raising rates by 25-bps on Wednesday, in addition to lending $300 billion to bankrupt institutions last week, Federal Reserve Chair Jerome Powell reassures the public that the banking system is “sound and resilient” to quell concerns over recent bank failures. Reiterating:
In addition, we are committed to learning the lessons from this episode and to work to prevent events like this from happening again.
Conservatives have been pressuring “the Liberal government to address what they term a violent crime wave, citing the killings of five police officers in five months and a surge of violence in cities across Canada.” Conservative leader Pierre Poilievre said that violent crime is up 32 percent, gang killings are up 92 percent, and “Police tell us that often they have to arrest the same people multiple times in the very same day because they are released ag
A century ago, the US coal industry was at its peak employing 883,000, and today, coal employs fewer than 41,000. Is that a bad thing? Is the US worse off because of this? Though it’s remarkable––that 95 percent fewer coal miners are needed to power a population that’s now 2.9 times larger––can you name someone who cares? Is declining employment in the coal industry a threat to “national security”?
Despite the fears that Artificial Intelligence will disempower consumers, companies find it easier to keep up with ever changing preferences of consumers by applying AI technology. Companies apply AI to the infinite areas of business operations, production, pricing, customer experiences, and manufacturing processes. Firms are racing one another to integrate AI applications into their business practices to meet consumer needs.
