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Chevron Divests $6.5 Billion Canadian Assets to Canadian Natural Resources in Strategic Move

Chevron is selling its holdings in the Athabasca oil sands and Duvernay shale formation to Canadian Natural Resources for $6.5 billion as part of its

Chevron is selling its holdings in the Athabasca oil sands and Duvernay shale formation to Canadian Natural Resources for $6.5 billion as part of its divestment plan targeted at raising $10 billion to $15 billion by 2028. Anticipated to conclude by December 6, the allcash deal fortifies Chevrons financial standing during its continuous rivalry with Exxon, especially in light of Exxons $53 billion offer for Hess. In 2023, Chevrons Canadian properties produced 84,000 barrels of oil equivalent per day boepd. After the acquisition, Canadian Natural would own 90% of the Athabasca project. It aims to invest $400 million next year and boost dividends by 7%, with an expected 122,500 boepd rise in output by 2025. Read More..

B2B Tech News | 1 years ago        

Andrew Ngs AI Fund Makes First India Investment in Healthcare Startup Jivi

The Gurugrambased healthcare business Jivi is the first venture Andrew Ngs AI Fund has backed in India. Jivi is an artificial intelligence platform th

The Gurugrambased healthcare business Jivi is the first venture Andrew Ngs AI Fund has backed in India. Jivi is an artificial intelligence platform that helps with administrative work, health report generation, diagnosis, and therapy suggestions. The amount invested and the stake that was obtained were not made public. This is happening at a time when it is anticipated that Indias AI market will more than quadruple, reaching $22 billion by 2027, with a large share coming from goods and companies. Sequoia Capital and Softbank Groupbacked AI Fund have made prior investments in platforms such as Podcastle and Octagon AI. Earlier this year, Ng—renowned for his leadership positions at Google and Baidu—joined the board of Amazon. Read More..

B2B Tech News | 1 years ago        

Tokyo Metro Sets IPO Price Range at 1,1001,200 Yen, Targeting $2.35 Billion Raise

Tokyo Metro has disclosed a price range for its IPO, which is somewhat higher than the first expected price of 1,100 yen per share and is set between

Tokyo Metro has disclosed a price range for its IPO, which is somewhat higher than the first expected price of 1,100 yen per share and is set between 1,100 and 1,200 yen. The IPO would raise around 349 billion yen $2.35 billion if priced at the maximum limit, making it the biggest in Japan in the previous six years. The ultimate pricing will be decided on October 15 before the October 23 listing on the Tokyo Stock Exchange. Tokyo Metro was founded in 1920 and is controlled by the national and Tokyo governments. In related developments, Bain Capitalbacked chipmaker Kioxia has cancelled its plans to list this month, and Rigaku, a provider of Xray testing tools, plans to do the same. Read More..

B2B Tech News | 1 years ago        

Record Rally Ubisoft Stock Soars to 13.54 Euros Following Buyout Talks

On Friday, Ubisoft shares surged more than thirty per cent in response to rumours that the companys founders, the Guillemot family, and significant sh

On Friday, Ubisoft shares surged more than thirty per cent in response to rumours that the companys founders, the Guillemot family, and significant shareholder Tencent were considering a takeover. The stock had its biggest oneday rise ever, soaring to 13.54 euros. The Guillemot family, who own 15% of Ubisoft, did not reply to questions, and Ubisoft declined to comment. Tencent owns less than ten per cent. Before this surge, Ubisofts shares had dropped 54% for the year, mainly due to lower forecasts and the delayed release of the eagerly awaited "Assassins Creed Shadows." Additionally, 10% of shareholders have backed activist investor AJ Investments calls for a possible sale or leadership change. Read More..

B2B Tech News | 1 years ago        

Payoneer and Tech Mahindra Join Forces to Revolutionize Global Crowdsourcing with Populii

Concerns over the worlds energy markets have increased as a result of the IsraelIran conflicts intensifying violence, especially Israels threats to at

Concerns over the worlds energy markets have increased as a result of the IsraelIran conflicts intensifying violence, especially Israels threats to attack Irans oil infrastructure. Iran is one of the worlds largest oil producers with 3.277 million barrels produced daily, each disruption counts. While Brent Crude just touched $75.74 per barrel, light crude oil futures recently increased to $72.13 per barrel. Sara Vakhshouri, president of SVB Energy International, stated that while limited effects may be minimised, the degree of price changes will rely on the harm done to oil infrastructure. Investment institutions such as Goldman Sachs and Citigroup have lowered their longterm oil price projections despite the present tensions. They believe that oversupply and low demand would cause oil prices to drop to about $60 per barrel by 2025, underscoring the vulnerability of the worlds energy markets. Read More..

B2B Tech News | 1 years ago        

IMF Urges El Salvador to Limit Bitcoin Exposure Amid Ongoing Cryptocurrency Concerns

El Salvador has been using Bitcoin extensively, which has alarmed the International Monetary Fund IMF, which has called on the nation to restrict publ

El Salvador has been using Bitcoin extensively, which has alarmed the International Monetary Fund IMF, which has called on the nation to restrict public access to the cryptocurrency. IMF spokeswoman Julie Kozack emphasised the dangers of engaging in cryptocurrency activities during a recent news conference, especially considering its instability. Since Bitcoin became legal money alongside the US dollar in 2021, the IMF has been pushing for increased regulatory monitoring and stricter legislation in El Salvador. Despite these cautions, President Nayib Bukele is going for the economic integration of Bitcoin, including establishing a taxfree "Bitcoin City." El Salvador needs $1.4 billion in financial help to pay off its public debt, but the IMF withheld the money because of the countrys involvement in cryptocurrency. Read More..

B2B Tech News | 1 years ago        

Adani Group Eyes $1.2 Billion Deal to Acquire Heidelberg Materials Indian Cement Assets

According to the Economic Times, negotiations are underway for the Adani Group to pay around $1.2 billion to purchase Heidelberg Materials cement asse

According to the Economic Times, negotiations are underway for the Adani Group to pay around $1.2 billion to purchase Heidelberg Materials cement assets in India. Billionaire Gautam Adani led the company that bought Holcims local businesses in 2022 to join the Indian cement industry. Since then, it has made further purchases to challenge leading manufacturer UltraTech Cement. On Monday, HeidelbergCement Indias shares increased by 14.5 per cent, indicating a favourable mood among investors. Heidelberg Materials is considering all of its alternatives in light of the market consolidation trend, admitting that its current position in India could be better. The business operates four factories in India with a combined capacity of 12.6 million tonnes. Read More..

B2B Tech News | 1 years ago        

Denmarks DSV Secures $5.5 Billion to Become the Worlds Largest Logistics Firm with Schenker Deal

Denmarks DSV stated on Friday that it has successfully raised $5.5 billion in shares to partially finance its acquisition of Schenker, making it the l

Denmarks DSV stated on Friday that it has successfully raised $5.5 billion in shares to partially finance its acquisition of Schenker, making it the largest logistics firm in the world. For €14.3 billion $15.76 billion, the business decided to buy Deutsche Bahns logistics section, Schenker. For 1,410.5 Danish crowns, the new shares raised 37.3 billion crowns, or $5.52 billion, or 12.3% of DSVs estimated market worth of 300 billion crowns. Both stock and debt are used to finance purchases. Deutsche Bahns board accepted the sale despite resistance from the union and competition from competitor CVC. Additionally, DSV modified its 2024 profit prediction and disclosed an initial operational profit of 4.4 billion crowns for the third quarter. On October 23, all earnings will be disclosed. Read More..

B2B Tech News | 1 years ago        



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