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S&P 500 Companies Face Slowing Earnings Growth Amid High Hopes for AI Impact

When earnings season rolls around, investors are watching closely to see how the artificial intelligence investments made by S&P 500 businesses are pl

When earnings season rolls around, investors are watching closely to see how the artificial intelligence investments made by S&P 500 businesses are playing out. The quarters 13.2% earnings growth is predicted to drop to 5.3%, with the technology and communication services industries likely to lead the rise. There is still a lot of hope surrounding AIs influence on profitability as significant companies like JPMorgan Chase and Wells Fargo prepare to report. According to UBS, AI chip sales are expected to hit $168 billion this year, which projects the industry will climb significantly. Read More..

B2B Tech News | 1 years ago        

Sanofi Poised to Sell Consumer Health Unit to CD&R for €15 Billion

Sanofi is getting close to selling its consumer health division to American private equity firm Clayton Dubilier & Rice CD&R for about €15 billion $

Sanofi is getting close to selling its consumer health division to American private equity firm Clayton Dubilier & Rice CD&R for about €15 billion $16.4 billion. This action aligns with Sanofis plan to increase financing for the creation of novel pharmaceuticals. The French pharmaceutical business had received proposals from CD&R and PAI Partners, with the latter being the more competitive. There may be an announcement shortly on the deal. By the end of 2023, Sanofi stated that it may separate its consumer healthcare division. Read More..

B2B Tech News | 1 years ago        

Russia Plans Major Hike in Exit Tax for Foreign Companies, Raising Rate to 35%

The Russian government will raise the onetime departure tax for foreign enterprises departing Russia from 15% to up to 35%. According to the new regul

The Russian government will raise the onetime departure tax for foreign enterprises departing Russia from 15% to up to 35%. According to the new regulations RBC published, 25% of the selling price must be paid to the Treasury within one month, with additional payments of 5% due within a year and the remaining 5% due within two years. Furthermore, corporations selling assets must accept a minimum discount of 60% instead of 50%. It should be noted that President Vladimir Putin must approve any transaction for more than 50 billion roubles $517.6 million. Read More..

B2B Tech News | 1 years ago        

IndiaUAE BIT Amended Local Remedies Exhaustion Period Cut from Five to Three Years

The Bilateral Investment Treaty BIT between India and the United Arab Emirates has been modified, encompassing portfolio investments and shortening th

The Bilateral Investment Treaty BIT between India and the United Arab Emirates has been modified, encompassing portfolio investments and shortening the local remedies exhaustion term from five years to three years for disputes. In an attempt to draw in more investment from the UAE, this move may lead to a rise in arbitration proceedings against India, which might lead to challenges to regulatory rulings. With effect from August 31, 2024, the treaty expands financial assets safeguards, which is a change from Indias prior Model BIT, which was limited to direct investments. Read More..

B2B Tech News | 1 years ago        

UNODC Report Reveals Southeast Asia Lost $37 Billion to Crypto Fraud in 2023

According to a recent UNODC analysis, financial losses from cryptocurrencyrelated fraud in Southeast Asia in 2023 were over $37 billion. Since money l

According to a recent UNODC analysis, financial losses from cryptocurrencyrelated fraud in Southeast Asia in 2023 were over $37 billion. Since money launderers use illegal cryptocurrency businesses, the UNODC advises penalising them to address this problem. The research underscores the noteworthy surge in cybercrimes driven by artificial intelligence, stressing organised criminal organisations use of sophisticated technology and cryptocurrencies for fraudulent purposes. The region is increasingly serving as a trial ground for transnational criminal networks. Thus, UNODC officials are urging states to step up their regulatory efforts and vigilance to counter these risks. Read More..

B2B Tech News | 1 years ago        

HSBC CEO Considers CostCutting Moves to Save Up to $300 Million Amid Strategic Overhaul

Georges Elhedery, the CEO of HSBC, is concentrating on reducing expenses among the banks senior bankers to save up to $300 million. This move is part

Georges Elhedery, the CEO of HSBC, is concentrating on reducing expenses among the banks senior bankers to save up to $300 million. This move is part of a larger plan to combine its investment banking and commercial banking segments, simplifying operations by eliminating unnecessary positions. HSBC has reduced its presence in Western countries, including the United States, France, and Canada, in favour of Asia in recent years. These actions are meant to improve profitability and efficiency in a highly competitive market. Read More..

B2B Tech News | 1 years ago        

Rio Tinto Acquires Arcadium Lithium for $6.7 Billion, Becomes ThirdLargest Lithium Producer

Rio Tinto, the thirdlargest lithium producer in the world, has announced that it would pay $6.7 billion to acquire Arcadium Lithium, a U.S.based compa

Rio Tinto, the thirdlargest lithium producer in the world, has announced that it would pay $6.7 billion to acquire Arcadium Lithium, a U.S.based company. Despite the current lithium glut, this decision aligns with Rios plan to concentrate on premium, lowcarbon commodities crucial for the energy transition. Rio now has access to lithium mining and processing facilities in many countries as part of the acquisition, valued at about 90% more than Arcadiums latest stock price. The deal aims to fulfil the increasing demand for batteries for electric vehicles. The purchase is anticipated to close in the middle of 2025. Read More..

B2B Tech News | 1 years ago        

Norway’s Sovereign Wealth Fund Lifts Supermax Bhd Observation After Human Rights Measures Implemented

After two years, the sovereign wealth fund of Norway has formally concluded its observation of Supermax Bhd in light of the companys efforts to resolv

After two years, the sovereign wealth fund of Norway has formally concluded its observation of Supermax Bhd in light of the companys efforts to resolve human rights issues. The ruling is consistent with the recent repeal of Supermaxs prohibition in the United States due to forced labour claims. Furthermore, the fund has ended its coal consumption monitoring of Southern Co. and BHP Group, acknowledging their notable decreases in coal output. The measures demonstrate the funds dedication to moral investing and accountable corporate governance, underscoring its proactive approach to environmental and social concerns. Read More..

B2B Tech News | 1 years ago        



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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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