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Intels Foundry Business Reports $7 Billion Operating Loss in 2023

In 2023, Intel revealed a notable rise in operational losses for its foundry division, amounting to $7 billion, as opposed to $5.2 billion in the year

In 2023, Intel revealed a notable rise in operational losses for its foundry division, amounting to $7 billion, as opposed to $5.2 billion in the year prior. Intels stock fell 4.3% as a result of this news. CEO Pat Gelsinger blamed previous choices, such as avoiding investing in Extreme Ultraviolet EUV equipment that would have reduced costs, for the losses. After anticipating further losses in 2024, the corporation hopes to break even by 2027. To become more competitive, Intel has switched to using EUV technologies. To draw in outside customers, Intel also intends to invest $100 billion in semiconductor plants throughout the United States and will disclose manufacturing activities separately. Read More..

B2B Tech News | 17 days ago        

Audi India Records 33% Surge in Retail Sales, Expects Strong Growth in 2024

For the fiscal year that ended on March 31, 2024, Audi India had a notable 33% increase in retail sales, selling 7,027 vehicles as opposed to 5,275 un

For the fiscal year that ended on March 31, 2024, Audi India had a notable 33% increase in retail sales, selling 7,027 vehicles as opposed to 5,275 units in the prior fiscal year. Supply chain interruptions hurt sales in the first quarter, but the firm is still confident it can sell more than 50,000 cars by 2024 because of strong demand and a wide range of products. Despite obstacles, Audi India continued to thrive, selling 1,046 cars domestically in only the March quarter. In addition, the preowned vehicle market had a 50% rise in FY 23–24 over FY 22–23, with a 25% gain from January to March. Read More..

B2B Tech News | 17 days ago        

Trump Medias Stock Dives 21% as $58 Million Losses Unveiled PostMerger

After revealing nearly $58 million in losses for 2023, Trump Media & Technology Group shares fell 21% on Monday, wiping all gains from its recent laun

After revealing nearly $58 million in losses for 2023, Trump Media & Technology Group shares fell 21% on Monday, wiping all gains from its recent launch. Given its low sales, analysts blame the decline on overvaluation and scepticism about profitability. Trump is prohibited from selling or using his 78.75 million shares for six months. Short sellers recovered a sizable portion of their losses during the selloff, making $65 million on Monday alone. Reddits $800 million sales in 2023 were significantly more than the companys $4.13 million, which raised questions about its ability to pay its debts. The future of Trump Media is further clouded by a legal battle it has with its cofounders about ownership shares. Read More..

B2B Tech News | 17 days ago        

Japan Approves Billions in Subsidies for Chip Foundry Venture Rapidus

Tokyos efforts to revive the nations chip manufacturing sector have included the approval of subsidies for chip foundry venture Rapidus, reaching up t

Tokyos efforts to revive the nations chip manufacturing sector have included the approval of subsidies for chip foundry venture Rapidus, reaching up to 590 billion yen $3.9 billion by the Ministry of Industry in Japan. This clearance follows a preliminary subsidy arrangement valued at around 330 billion yen. As part of the recently authorised aid, 53.5 billion yen will go into improved packaging, which is essential to improving chip performance. Under the direction of seasoned industry professionals, Rapidus plans to begin producing sophisticated chips in large quantities in Hokkaido by 2027, working with IBM and Imec. The action reflects international attempts to strengthen supply chain management over chips, spurred by the COVID19 epidemic and trade disputes. However, given Taiwan Semiconductor Manufacturing Co.s wealth of experience and knowledge in the sector, some industry experts need clarification about Rapidus prospects. Read More..

B2B Tech News | 17 days ago        

Algeria Grapples with Soaring Inflation, Making Goods Unaffordable

Due to Algerias high inflation rate of 9.53%, most people cannot afford the countrys high cost of commodities—customers at the Reda Houhou market in

Due to Algerias high inflation rate of 9.53%, most people cannot afford the countrys high cost of commodities—customers at the Reda Houhou market in central Algiers battle with skyrocketing prices, particularly during Ramadan. Citizens are nevertheless impacted by years of austerity, even as the economy recovers due to increased oil prices. Mustapha Bali, a civil servant, bemoans the exorbitant costs associated with Ramadan, mentioning beef at 2600 dinars a kg and tomatoes at 120–140 dinars. Ahmed Laaloufi, a meat dealer, imports goods since they are scarce locally. Customers are helped by the governments financing of an Algiers market, which offers accessible and reasonably priced goods. According to analyst Nabil Djemaa, inflation is caused by rising costs for manufactured goods and raw materials, especially for agricultural items like semolina. Read More..

B2B Tech News | 17 days ago        

Thailands Economy Faces Challenges World Bank Downgrades Growth Forecast

The World Bank predicts that poor exports and a postponed budget will be the leading causes of Thailands 2.8% economic growth in 2024 and 3.0% growth

The World Bank predicts that poor exports and a postponed budget will be the leading causes of Thailands 2.8% economic growth in 2024 and 3.0% growth in 2025. This expectation decreases from earlier estimates of 3.2% for each two years. In 2023, the economy increased by 1.9%, but the last quarter saw an unanticipated 0.6% contraction. In addition, the slowdown in international commerce and postponed government expenditure caused Thailands central bank to lower its forecast for growth in 2024 to 2.5%–3.0%. The poor prognosis is partly attributed to bleak public investment and export expectations. Notwithstanding obstacles, development is anticipated to be driven by tourism and private consumption visitor visits are anticipated to return to 90% of prepandemic levels. The government wants to give its residents a $14 billion gift to help the economy, but worries over increased public debt persist. Read More..

B2B Tech News | 23 days ago        

European Union FastTracks Financial Aid to Egypt Amid Economic Challenges

The European Union intends to circumvent parliamentary scrutiny and other protections to speed up financial help to Egypt through an urgent funding me

The European Union intends to circumvent parliamentary scrutiny and other protections to speed up financial help to Egypt through an urgent funding mechanism. This action attempts to solve Egypts economic problems, which have been made worse by several variables, such as the pandemic and regional wars. Concerns concerning migration and regional stability surround the EUs decision. Grants, loans, and investments are all part of the aid package, with a sizeable amount designated for migration management. The EU stresses the necessity for immediate economic assistance even as it recognises Egypts sluggish progress towards change and human rights concerns. Recently, Egypt has taken measures to stabilise its economy, such as floating its currency and obtaining funding from Gulf governments and international organisations. Read More..

B2B Tech News | 23 days ago        

Rakuten Group to Streamline Fintech Operations with Consolidation Move

The Rakuten Group intends to combine all of its fintech companies into one organisation to improve cooperation and client acquisition in several indus

The Rakuten Group intends to combine all of its fintech companies into one organisation to improve cooperation and client acquisition in several industries, such as online banking, credit cards, securities, and insurance. It is anticipated that Rakuten Group and Rakuten Banks agreement of understanding for reorganisation will take effect in October. Despite the merger, Rakuten Bank will continue to be listed in the Tokyo market. Rakuten Group is taking action to strengthen its financial performance, which has been problematic since the companys 2020 launch of its mobile carrier. Rakuten has explored partnerships, asset sales, stock and debt offerings, and the sale of a portion of its securities division to Mizuho Financial Group to generate income. Read More..

B2B Tech News | 23 days ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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