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Nike Shares Tumble 12% on Forecast of Revenue Decline Amid Sneaker Demand Shifts

Following hours, Nikes shares fell more than 12% as the company revealed an unexpected prediction of a midsingledigit percentage decline in revenue fo

Following hours, Nikes shares fell more than 12% as the company revealed an unexpected prediction of a midsingledigit percentage decline in revenue for fiscal 2025 NKE.N. This decline is ascribed to customers growing preference for more recent companies like On and Hoka, which have eaten into Nikes market share with trendier merchandise. Nike needs help recovering momentum despite efforts to increase sales through directtoconsumer channels and product advancements, such as improved running shoes and impending launches like the Air Max range. Its projection is further complicated by weak overseas sales, especially in China, and worse North American traffic a 10% revenue decrease is predicted for the first quarter of fiscal 2025. Read More..

B2B Tech News | 26 days ago

ANZ Group Cleared for $3.26 Billion Acquisition of Suncorps Banking Business

Following nearly two years of examination by treasury and financial authorities, Australia has authorised ANZ Groups acquisition of Suncorps banking d

Following nearly two years of examination by treasury and financial authorities, Australia has authorised ANZ Groups acquisition of Suncorps banking division for A$4.9 billion $3.26 billion. Under legally binding terms designed to preserve employment opportunities and financial services accessibility, Treasurer Jim Chalmers affirmed the ruling. One of the threeyear restrictions on shutting Suncorps rural bank branches and reducing employment across Australia is one of these requirements. The Australian Competition Tribunal eventually approved the transaction after being first rejected by the countrys competition authority due to worries about diminished competition. ANZ and Suncorp filed appeals in support of the acquisition. Speaking confidently, ANZ CEO Shayne Elliott emphasised the advantages of the integration for the companys retail and commercial businesses, increasing ANZs competitiveness in the Australian market. Read More..

B2B Tech News | 26 days ago

Nokia to Acquire Infinera for $2.3 Billion, Expanding Optical Network Business

With a $2.3 billion transaction, Nokia will buy Infinera Corp to grow its optical network business, especially in North America. Infineras stock incre

With a $2.3 billion transaction, Nokia will buy Infinera Corp to grow its optical network business, especially in North America. Infineras stock increased by about twenty per cent after the news. At $6.65 per share, the offer is valued at 26.4% more than Infineras most recent closing price. Nokia has agreed to pay Infineras stockholders at least 70% in cash, possibly receiving up to 30% in Nokias American Depositary Shares. According to projections, this purchase will enhance Nokias profits by more than 10% by 2027 and its comparable earnings per share in the first year. Infinera is a San Jose, Californiabased company that specialises in networking equipment for telecom networks and optical semiconductors. Read More..

B2B Tech News | 26 days ago

SaintGobain Expands Global Footprint with $1.03 Billion FOSROC Acquisition

The French building materials giant SaintGobain has announced that it would buy the Dubaibased construction chemicals company FOSROC for around 960 mi

The French building materials giant SaintGobain has announced that it would buy the Dubaibased construction chemicals company FOSROC for around 960 million euros, or $1.03 billion. The purchase, financed with cash, is a component of SaintGobains global expansion plan, focusing on highgrowth regions like the Middle East and India. The deal is anticipated to be finalised in the first half of 2025. CEO Benoit Bazin emphasised that this action aligns with SaintGobains larger acquisition strategy, which has seen the business buy 35 businesses since 2021, including GCP and Chryso, to increase its market share in the building chemicals industry. The business estimates that by the third year following the conclusion of the purchase, synergies will reach $54 million. Read More..

B2B Tech News | 26 days ago

Kenya Protests Intensify Over Controversial Finance Bill, President Ruto Halts Signing

After protests against a budget law that proposed higher taxes, the situation in Kenya dramatically worsened, leading to terrible bloodshed and politi

After protests against a budget law that proposed higher taxes, the situation in Kenya dramatically worsened, leading to terrible bloodshed and political unrest. The bills economic consequences and the public outrage it caused have led President William Ruto to proclaim he will not sign it into law despite considerable resistance and turmoil. The governments use of military force and the protesters intensity resulted in several fatalities and injuries, and there were also allegations of police shootings, which heightened tensions. The High Court stopped military deployment, pointing out legal issues in the face of rising hostilities and advocating for a national conversation to resolve the situation. Read More..

B2B Tech News | 26 days ago

SoftBank’s Vision Fund 2 Eyes $20 Million Investment in Perplexity AI at $3 Billion Valuation

According to reports, Perplexity AI, a U.S. search firm, will receive between $10 million and $20 million from SoftBank Group Corp.s Vision Fund 2, wh

According to reports, Perplexity AI, a U.S. search firm, will receive between $10 million and $20 million from SoftBank Group Corp.s Vision Fund 2, which values the business at $3 billion. The parameters of the bigger $250 million capital round, which this investment is a part, might alter. Based in San Francisco, Perplexity AI provides largescale language models Llama from Meta and OpenAI to power its search capabilities, allowing users to get quick answers, citations, and references. Before this, in January 2023, Perplexity secured $73.6 million from prominent investors, such as Jeff Bezos of Amazon and Nvidia, valuing the business at $520 million. According to reports, Perplexity AI, a U.S. search firm, will receive between $10 million and $20 million from SoftBank Group Corp.s Vision Fund 2, which values the business at $3 billion. The parameters of the bigger $250 million capital round, which this investment is a part, might alter. Based in San Francisco, Perplexity AI provides la Read More..

B2B Tech News | 26 days ago

Amazon Reaches $2 Trillion Market Value Amid AI Optimism and Rate Cut Hopes

Wednesday saw Amazon.com Inc. surpass a $2 trillion market valuation for the first time, propelled by hopes for artificial intelligence and possible i

Wednesday saw Amazon.com Inc. surpass a $2 trillion market valuation for the first time, propelled by hopes for artificial intelligence and possible interest rate reductions. The stock increased 3.4% to $192.70, entering the $2 trillion club alongside Apple, Microsoft, Nvidia, and Alphabet. This year has seen a sharp rise in U.S. stock indices due to optimism surrounding artificial intelligence, a strong economy, and a possible Fed rate reduction. Being the biggest supplier of cloud services and investing in robotics and AI companies have helped Amazons shares rise by more than 26% this year. The use of AI has spurred growth for Amazon Web Services, and the business has unveiled new speciallymade processors for AI applications. Read More..

B2B Tech News | 26 days ago

Volkswagen’s $5 Billion Bet on Rivian Signals EV Expansion

The $5 billion investment of Volkswagen Group in Rivian, which will create an evenly owned joint venture, highlights a significant change in the elect

The $5 billion investment of Volkswagen Group in Rivian, which will create an evenly owned joint venture, highlights a significant change in the electric vehicle EV market. Through this partnership, Volkswagen can use Rivians cuttingedge EV architecture and software to improve its competitiveness in EVs and resolve continuing software issues inside its Cariad subsidiary. In particular, the investment would enable Rivian to expedite the development of its future R2 SUVs, which are intended to be more widely accessible by early 2026. Through expected supply chain volumes and technological integration, the alliance is anticipated to provide operational efficiencies that will enable both businesses to manage the difficulties of the changing automotive industry and advance sustainable mobility solutions on a global scale. Read More..

B2B Tech News | 1 months ago

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