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South Africas Unemployment Rate Rises to 33.5% in Q2 2024

According to the governments statistics bureau, South Africas unemployment rate increased from 32.9% in Q1 2024 to 33.5% in Q2 2024. The most develope

According to the governments statistics bureau, South Africas unemployment rate increased from 32.9% in Q1 2024 to 33.5% in Q2 2024. The most developed economy in Africa has failed to create jobs due to a protracted recession and the COVID19 outbreak, and this growth is a reflection of those difficulties. In Q2 2024, there were 16.7 million employed individuals, a 92,000 decrease in employment, compared to the 5.2 million jobless persons in 2014. Manufacturing, social services, and utilities witnessed increases in employment, whereas trade, agriculture, and construction saw the most significant losses. The newly elected coalition government prioritised economic recovery in May to address the political fallout from high unemployment rates. Read More..

B2B Tech News | 12 months ago        

StanCorp Financial Acquires Allstate’s American Heritage Brand in $2 Billion Deal

Allstate, a US liability insurance, has agreed to sell StanCorp Financial Group its employersponsored benefits division in exchange for $2 billion in

Allstate, a US liability insurance, has agreed to sell StanCorp Financial Group its employersponsored benefits division in exchange for $2 billion in cash. Subject to regulatory clearances in the US and Japan, the deal, including Allstates "American Heritage" brand divisions, is anticipated to close by the April–June 2025 quarter. Meiji Yasuda Life Insurance, the parent company of StanCorp, sees this purchase as an essential component of its plan to reach base profit equivalents of 100 billion yen $680 million by the 2026–2027 fiscal year. Meiji Yasuda intends to keep looking into new investment possibilities to meet its growth goals. Read More..

B2B Tech News | 12 months ago        

India to Boost Critical Minerals Industry with New Incentives for Lithium and More

A joint secretary in the federal mines ministry named Veena Kumari Dermal said India intends to provide incentives for developing essential minerals l

A joint secretary in the federal mines ministry named Veena Kumari Dermal said India intends to provide incentives for developing essential minerals like lithium. To strengthen Indias vital mining sector, the government plans to subsidise research institutions that offer miners technological assistance. This project is part of a larger plan to boost the industry and lessen reliance on imports. India invests in R&D and technical support to improve its mining and processing capacities for essential minerals, which are vital to its industrial and technological development. The action demonstrates the governments dedication to creating a reliable and robust mineral supply chain. Read More..

B2B Tech News | 12 months ago        

Scotiabank to Acquire 14.9% Stake in KeyCorp for $2.8 Billion

For $2.8 billion, or $17.17 per share, 17.5% more than KeyCorps most recent closing price, Scotiabank is purchasing a 14.9% interest in the American r

For $2.8 billion, or $17.17 per share, 17.5% more than KeyCorps most recent closing price, Scotiabank is purchasing a 14.9% interest in the American regional lender KeyCorp. By doing this, Scotiabank increases its influence in the troubled U.S. banking industry and has the opportunity to nominate two directors to KeyCorps board. Scotiabanks investment aims to redirect its attention from its less lucrative Latin American businesses to the North American markets. There will be two phases to the acquisition, with Scotiabank emerging as KeyCorps largest shareholder after it is finished in the 2025 fiscal year. Other prominent Canadian banks looking to expand in the U.S. have taken similar actions. Read More..

B2B Tech News | 12 months ago        

Google Fitbit Partners with Peloton to Offer Premium Fitness Content to Users

Starting in early September, Fitbits premium customers in the US, UK, Canada, and Australia will have access to Pelotons fitness programming, which in

Starting in early September, Fitbits premium customers in the US, UK, Canada, and Australia will have access to Pelotons fitness programming, which includes running, boxing, pilates, and cycling courses, thanks to a partnership between Fitbit and Peloton. Peloton members will be rewarded with Fitbit Charge 6 and Google Pixel watch deals. While Peloton faces issues due to decreased sales and the need for debt refinancing, this arrangement intends to increase engagement for both firms. After the news, shares of Peloton increased by almost 3%. The partnerships financial details were kept a secret. Read More..

B2B Tech News | 12 months ago        

Porsche SE’s Finance Chief Announces Readiness for New Investments Amid Market Opportunities

The holding company is in a solid financial position to consider making more investments, according to Porsche SEs chief financial officer, Johannes L

The holding company is in a solid financial position to consider making more investments, according to Porsche SEs chief financial officer, Johannes Lattwein. Lattwein emphasised that the organisation is flexible enough to pursue core and portfolio investments in the current stock market climate, which has resulted in lower business values and provides excellent prospects. Recent membership in an investment group allowed Porsche SE. This company owns Volkswagen to purchase a 35% share in Flix SE, which runs Greyhound in North America and FlixBus in Europe. Read More..

B2B Tech News | 12 months ago        

Bharti Enterprises to Acquire 24.5% Stake in BT for £3.2 Billion

To buy out key investor Patrick Drahi of Altice Group, which is lowering its debt load, Indias Bharti Enterprises is scheduled to pay £3.2 billion $4

To buy out key investor Patrick Drahi of Altice Group, which is lowering its debt load, Indias Bharti Enterprises is scheduled to pay £3.2 billion $4 billion for a 24.5% share in BT. Under the leadership of billionaire Sunil Bharti Mittal, Bharti will grow into a significant strategic investor in BT, assisting with its transformation initiatives and fibre network growth. A test of the incoming Labour governments position on foreign ownership in strategic industries, this investment has increased BTs shares by 6%. Before finalising the acquisition, Bharti—formerly owned a 9.99% stake—will need national security clearance. Instead of focusing on immediate profits, Bhartis purchase represents its longterm investment plan. Read More..

B2B Tech News | 12 months ago        

New Zealand Faces Record Emigration with 131,200 Departures in 2024

New Zealand is seeing unprecedented levels of emigration in the year ending in June 2024, 131,200 individuals left the country, the most significant y

New Zealand is seeing unprecedented levels of emigration in the year ending in June 2024, 131,200 individuals left the country, the most significant yearly number ever. Due to severe unemployment, high interest rates, and slow economic development in New Zealand, a sizable percentage of these exits are made for Australia. Eightyseven thousand New Zealanders were leaving, almost twice as many as before the outbreak. The nations economy needs help due to its 0.2% annual growth rate, growing 4.7% unemployment rate, and ongoing 3.3% inflation. Due to talent shortages, Australia is becoming a popular destination for New Zealanders looking to relocate due to its generous relocation packages and high cost of living. Read More..

B2B Tech News | 12 months ago        



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