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BUSINESS NEWS

U.S. Plans Subsidies for Intel, TSMC, and Others in Semiconductor Boost

The Biden administration anticipates announcing billiondollar subsidies for semiconductor businesses, such as Intel and Taiwan Semiconductor Manufactu

The Biden administration anticipates announcing billiondollar subsidies for semiconductor businesses, such as Intel and Taiwan Semiconductor Manufacturing Co TSMC, to encourage the development of new chip manufacturers in the United States. The subsidies aim to increase the production of cuttingedge semiconductors essential for defence systems, cell phones, and artificial intelligence. Executives from the industry who are aware of the discussions expect announcements before President Bidens March 7 State of the Union speech. Intel, TSMC, Samsung Electronics, Micron Technology, Texas Instruments, and GlobalFoundries are among the possible beneficiaries. The subsidies are intended to support U.S. chip manufacturing as part of the "Chips for America" initiative. Read More..

B2B Tech News | 26 days ago        

Ryanair Expects Boeing 737 MAX 10 Certification by YearEnd

Major Boeing client Ryanair hopes the Boeing 737 MAX 10 will be approved by years end and go into service in early 2025. Chief Financial Officer Neil

Major Boeing client Ryanair hopes the Boeing 737 MAX 10 will be approved by years end and go into service in early 2025. Chief Financial Officer Neil Sorahan of Ryanair expressed optimism that certification for the MAX 10 will come about by the end of 2024 and that the first aircraft may go into service in the first quarter of 2025. Ryanair has 150 MAX 10 aircraft with fixed orders and another 150 with options. The biggest model in Boeings 737 MAX series, the 737 MAX 10, is built to carry more people than its predecessors. Read More..

B2B Tech News | 26 days ago        

China Evergrande Unit to Sell Stake in Shantou Hengmeng for $19.20 Million

China Evergrande said that one of its subsidiaries has agreed to sell for CNY 137.6 million $19.20 million the entirety of its ownership in Shantou He

China Evergrande said that one of its subsidiaries has agreed to sell for CNY 137.6 million $19.20 million the entirety of its ownership in Shantou Hengmeng Property Development. A joint venture partner in Australia, Redleaf Trading, owns the remaining 65% of Shantou Hengmeng, with Hengda Real Estate Group Yuedong, a unit of Evergrande, controlling the other 65%. With the sale, Evergrande hopes to make around CNY 304 million, which it would utilise to settle its CNY 376 million debt with Shantou Hengyao Property Development. The corporation is attempting to pay off its debts despite its financial difficulties. Read More..

B2B Tech News | 27 days ago        

PayPal Unveils AIDriven Products and OneClick Checkout Feature

PayPals first significant announcement under CEO Alex Chriss is the introduction of new AIdriven goods and a oneclick checkout functionality. Chriss b

PayPals first significant announcement under CEO Alex Chriss is the introduction of new AIdriven goods and a oneclick checkout functionality. Chriss believes that AI presents a vast potential for PayPal, and the new products are meant to capitalise on investors excitement for AI. The business intends to launch a platform that uses AI to assist retailers in reaching out to new clients by using their past purchases. Additionally, retailers can suggest customised products to customers in their email receipts thanks to a programme dubbed "smart receipts" that runs on artificial intelligence. PayPal is also launching new capabilities for Venmo business profiles and Fastlane, a "oneclick" checkout option. Read More..

B2B Tech News | 27 days ago        

Toyota Labor Union Seeks Record Annual Bonus Equivalent to 7.6 Months of Pay

According to reports, the labour union representing Toyota is planning to seek its highest yearly bonus to date, which would be 7.6 months of salary i

According to reports, the labour union representing Toyota is planning to seek its highest yearly bonus to date, which would be 7.6 months of salary instead of the previous record of 7.2 months. The demand results from Toyotas prediction that the fiscal year ending in March 2024 would see recordbreaking consolidated operating earnings of 4.5 trillion yen $30.45 billion. It is also anticipated that the union will pursue sizable monthly wage increases. Major Japanese companies have already declared their intention to increase pay compared to the previous year. The Bank of Japan views the pay negotiations as critical to ending monetary stimulus as they are the means of attaining sustainable inflation and wage growth. Read More..

B2B Tech News | 27 days ago        

U.S. Secretary of State Blinken Visits Côte dIvoire as Part of Africa Tour

During his trip to Africa, U.S. Secretary of State Antony Blinken stopped in Côte dIvoire and thanked the nation for its efforts to combat extremism.

During his trip to Africa, U.S. Secretary of State Antony Blinken stopped in Côte dIvoire and thanked the nation for its efforts to combat extremism. He announced increased financing for those governments through the tenyear U.S. Strategy to Prevent Conflict and Promote Stability for Coastal West African governments, totalling an unknown sum. The help, a portion of a roughly $300 million investment spread over two years, is meant to improve security and stability. President Alassane Ouattara emphasised their productive conversation and the difficult regional circumstances, including coups in nearby West African nations. The objectives of Blinkens Africa visit are to fortify alliances, tackle local problems, and advance stability. Next up are Angola and Nigeria. Read More..

B2B Tech News | 27 days ago        

Mapletree Logistics Trust Reports 1.5% YoY Increase in Q3 Net Property Income

In the third quarter of FY23/24, Mapletree Logistics Trust MLT reported a 1.5% yearoveryear net property income NPI growth to $159.5 million. More exc

In the third quarter of FY23/24, Mapletree Logistics Trust MLT reported a 1.5% yearoveryear net property income NPI growth to $159.5 million. More excellent contributions from acquisitions in Japan, South Korea, and Australia, as well as from alreadyexisting properties in Singapore, were the leading causes of the higher NPI and the 2.1% YoY rise in gross revenue to $184 million. The rise was, however, somewhat offset by worse performance in China and the lack of income from selling or redeveloping assets. The outcomes of MLT were also impacted by the devaluation of several currencies relative to the Singapore Dollar. Revenue and NPI would have increased by 4.8% and 4.1% YoY, respectively, on a constant currency basis. Read More..

B2B Tech News | 27 days ago        

Nokias Q4 Operating Profit Beats Expectations Amid 5G Equipment Sales Dip

Despite sluggish sales of 5G equipment, Nokia reported betterthanexpected operating earnings for the fourth quarter. The Finnish telecom equipment man

Despite sluggish sales of 5G equipment, Nokia reported betterthanexpected operating earnings for the fourth quarter. The Finnish telecom equipment manufacturer was able to control expenses, and it expects demand to pick up in the second half of 2024. Comparable net sales for Nokia fell 23% to 5.71 billion euros in the quarter, falling short of projections. In the second half of the year, the business anticipates increased network infrastructure sales and better profits as costcutting initiatives start to pay off. With cell providers cutting down on buying new 5G equipment, Nokia is operating in a challenging market. Read More..

B2B Tech News | 27 days ago        



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