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RBA Governor Michele Bullock No Rate Cuts in Sight as Inflation Remains Above Target

Governor of the Reserve Bank of Australia RBA, Michele Bullock, stressed that the main worry should be sustained inflation and that it is premature to

Governor of the Reserve Bank of Australia RBA, Michele Bullock, stressed that the main worry should be sustained inflation and that it is premature to think about shortterm rate reductions. Bullock said that bringing inflation down to the 23% goal range is still the RBAs top aim in a speech in Sydney. Bullock remained hawkish in July despite the sluggish economic growth and a minor decrease in headline inflation to 3.5%. She emphasised that pressures on domestic inflation, especially in the housing and market services sectors, are still a factor in abovetarget inflation. Since last November, the RBA has maintained interest rates at 4.35% and will react suitably to economic shifts. Markets anticipate a 42% chance of a rate cut by November, but Bullock stressed that high inflation must be addressed to avoid more severe financial impacts. Read More..

B2B Tech News | 11 months ago        

Xi Jinping Pledges $51 Billion to Africa for Infrastructure, Jobs, and Clean Energy Projects

President Xi Jinping promised to provide $51 billion in fresh funding for Africa at the Forum on ChinaAfrica Cooperation Summit in Beijing. The money

President Xi Jinping promised to provide $51 billion in fresh funding for Africa at the Forum on ChinaAfrica Cooperation Summit in Beijing. The money will assist in financing thirty infrastructure initiatives and create at least one million jobs on the continent. Xi plans to start 30 renewable energy projects to solve electricity shortages and support Africas nuclear energy ambitions. In addition, he pledged to assist the growth of the African Continental Free Trade Area and enhance market access for African trade. The $51 billion package includes investments and credit lines worth $50.72 billion from Chinese enterprises, along with increased funding for military and other activities. Read More..

B2B Tech News | 11 months ago        

Prime Minister Modis Singapore Visit Aims to Boost Strategic and Economic Ties

The main goals of Prime Minister Modis visit to Singapore are expected to be enhancing commercial and strategic relationships, with an emphasis on adv

The main goals of Prime Minister Modis visit to Singapore are expected to be enhancing commercial and strategic relationships, with an emphasis on advanced manufacturing, digitalisation, and sustainable development. The significance of Singapore in Indias larger IndoPacific policy and as a major actor in ASEANIndia ties are further highlighted by this visit. It is probable that the purpose of the talks with Singaporean business executives and leaders would be to enhance collaboration and boost Singaporean investment in Indias developing industries. Read More..

B2B Tech News | 11 months ago        

Salesforce to Acquire AI Startup Tenyx to Boost Voice Agent Capabilities

Tenyx is an AIpowered speech assistant firm that Salesforce CRM.N said it would buy. The agreement intends to improve Salesforces AIdriven products an

Tenyx is an AIpowered speech assistant firm that Salesforce CRM.N said it would buy. The agreement intends to improve Salesforces AIdriven products and is anticipated to close in the third quarter. Tenyx was established in 2022 and provides services to various sectors, including travel, hotel, ecommerce, and healthcare. The purchase fits in with Salesforces plan to increase revenue growth and enter the M&A market again after concentrating on share buybacks in the past. This action fits into a larger pattern among tech behemoths like Amazon and Microsoft, who have also made extensive purchases to strengthen their AI capacities. Salesforces Q2 sales and earnings were recently above Wall Street estimates, primarily due to higher expenditure on its cloud offerings. Read More..

B2B Tech News | 11 months ago        

Nvidia Shares Plunge 9.5%, Marking Largest SingleDay Loss for U.S. Company Ever

Tuesdays 9.5% decline in Nvidias NVDA.O shares was the worst oneday decline in the market capitalisation of an American firm. Amid broader market fall

Tuesdays 9.5% decline in Nvidias NVDA.O shares was the worst oneday decline in the market capitalisation of an American firm. Amid broader market falls, investors attitudes about AI technology have shifted, as seen by this reduction, which amounts to a $279 billion decrease in market capitalisation. The PHLX chip index .SOX also dropped 7.75%, marking the worst oneday decline since 2020. Nvidias recent quarterly projection exacerbated the selloff, which fell short of investors lofty expectations. Furthermore, reorganisation plans caused Intel INTC.O to drop by about 9%, and worries about AI spending have impacted other tech behemoths, including Microsoft MSFT.O and Alphabet GOOGL.O. Nvidia has gained 118% this year, but the stocks drop indicates that investors are becoming more sceptical about the AI industrys potential for profit. Read More..

B2B Tech News | 11 months ago        

AT&T and Nokia Forge $5 Billion Fiber Network Deal to Boost U.S. Broadband Access

Having lost a significant wireless contract to Ericsson, Nokia and AT&T have now inked a new arrangement to construct a fiber network in the United St

Having lost a significant wireless contract to Ericsson, Nokia and AT&T have now inked a new arrangement to construct a fiber network in the United States. Nokia called the fiveyear fiber agreement a "significant milestone" that will improve internet access for millions of Americans and boost AT&Ts fiber network growth, which will cover 27.8 million sites by Q2 2024, despite the financial specifics not being made public. This agreement complies with the "Build America, Buy America" mandate regarding U.S. government funding. According to Nokia CEO Pekka Lundmark, the rising fiber market and a $42 billion U.S. broadband plan could boost net sales in the second half of the year. Read More..

B2B Tech News | 11 months ago        

Super Micro Refutes Hindenburgs Allegations, Calls Report False and Misleading

The shortseller Hindenburg Research made accusations, which Super Micro Computer SMCI has denied, stating that the report contains "false or inaccurat

The shortseller Hindenburg Research made accusations, which Super Micro Computer SMCI has denied, stating that the report contains "false or inaccurate statements" and "misleading presentations" of previously released facts. Following the denial, the companys shares increased by over 2%. It said it would address the claims when the time was right and gave no more information. Super Micros share price fell sharply when Hindenburg accused the company of "accounting manipulation," concealing relatedparty transactions, and breaking export laws. Super Micro insists that these problems do not impact its business performance, production capacity, or capacity to provide IT solutions. Read More..

B2B Tech News | 11 months ago        

China Seeks to Boost African Imports of EVs and Solar Panels at Beijing Summit

China hopes to increase African imports of its commodities, incredibly cuttingedge technology like solar panels and electric vehicles EVs, before West

China hopes to increase African imports of its commodities, incredibly cuttingedge technology like solar panels and electric vehicles EVs, before Western export curbs take effect during this weeks Forum on ChinaAfrica Cooperation Summit in Beijing. African leaders will be shown the chance to use green energy by Chinese President Xi Jinping. Still, they will also expect action on unfulfilled promises from the 2021 summit, such as an unfinished infrastructure project and a $300 billion pledge for commodities acquisition. Chinas move from largescale projects to investments in technology and green energy indicates its aim to focus on emerging markets and overcome trade hurdles with the West. Even though Beijing plays a significant role in commerce and finance, there are doubts about its readiness to provide more money in light of Africas chronic debt problems. Read More..

B2B Tech News | 11 months ago        



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