Moody's confirms Banorte's rating
Banorte, the largest Mexican-owned bank, has received confirmation of its global credit rating from Moody's Ratings, due to its solid financial fundamentals.
The rating agency maintained Banorte's rating at 'Baa1,' the second-to-last level in the global investment-grade asset classification, and reaffirmed its outlook at 'negative.' "We believe Banorte's deposits are likely to experience a low loss in the event of default, due to the loss absorption offered by lower-ranking obligations and the high volume of deposits in its liability structure," the agency said in a statement.
The agency added that Banorte's deposit ratings could be lowered if its financial fundamentals weaken, which would affect the bank's baseline credit assessment, or if Mexico's government bond rating is downgraded.
Microsoft announced Tuesday the development and successful testing of a new cooling technology that could improve the management of high-temperature artificial intelligence chips inside data centers.
The company said that, according to laboratory tests, its new microfluidic cooling system removes heat up to three times more efficiently than cold plates.
The system works by circulating liquid coolant directly inside the chip, through tiny etched channels, allowing it to reach the heat source more quickly and efficiently, the company said, adding that the technology was able to keep a server cool while conducting simulated Microsoft Teams meetings.
Meta Platforms announced Tuesday the introduction of a translation feature for its WhatsApp messaging service, aiming to facilitate multilingual conversations among its more than 3 billion users.
Translations will initially be available in six languages on Android devices and 19 languages on iPhones, with more languages to follow.
Users can long-press on a message and tap "Translate" to view any message in another language. This feature works for personal and group chats, as well as channel updates.
Android users can also enable automatic translation of an entire conversation thread so that future messages are translated by default.
América Móvil , one of the largest telecommunications operators in Latin America, is considering issuing euro-denominated bonds as part of its refinancing strategy.
Credit rating agency Moody's Ratings has assigned a 'Baa1' rating—the second-to-last investment grade rating—to the company's proposed senior unsecured bonds, for up to €750 million and maturing in 2030. It also assigned a 'stable' outlook.
Eleconomista
