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Unicredit CEO Andrea Orcel Advocates for Merger with Commerzbank to Strengthen German Banking Sector

Strong support for a possible merger between Unicredit and Commerzbank has been voiced by Andrea Orcel, CEO of Unicredit, who believes it may signific

Strong support for a possible merger between Unicredit and Commerzbank has been voiced by Andrea Orcel, CEO of Unicredit, who believes it may significantly improve the competitive environment in the German banking industry. Retail customers and German Mittelstand businesses might gain from a stronger rival created by such a combination, according to Orcel. Although Unicredit now owns 9% of Commerzbank, he stressed that Commerzbanks stockholders ultimately choose to combine. Unicredit is willing to have more conversations, according to Orcel, but there is no deadline for doing so. Local management at Commerzbank has expressed opposition to Unicredits recent action, indicating that the idea has caused a stir. Read More..

B2B Tech News | 1 years ago        

Tiger Global to Join MultiBillionDollar Funding Round for OpenAI, Valuation Could Hit $150 Billion

The multibilliondollar OpenAI fundraising round is expected to include venture capital company Tiger Global Management, which may value the ChatGPT cr

The multibilliondollar OpenAI fundraising round is expected to include venture capital company Tiger Global Management, which may value the ChatGPT creator at $150 billion. Thrive Capital is expected to lead the round with a $1 billion investment, helmed by Josh Kushner. OpenAI has to raise $6.5 billion, including $5 billion in debt, so this investment round is essential. Previous supporter Tiger, valued at $14.5 billion in 2019, contributed $50 million at the time of investment. Other notable investors were Microsoft, Nvidia, Apple, and G42 of Abu Dhabi. With an emphasis on sophisticated problemsolving skills, the financing will help OpenAI grow and introduce its new "Strawberry" AI models. Read More..

B2B Tech News | 1 years ago        

Disney and DirecTV Reach Deal to Restore Programming, Integrate Streaming Services

Walt Disney and DirecTV have agreed to bring back to DirecTVs 11 million subscribers Disneyowned content, such as ABC and ESPN, after a blackout that

Walt Disney and DirecTV have agreed to bring back to DirecTVs 11 million subscribers Disneyowned content, such as ABC and ESPN, after a blackout that started on 1 September. By incorporating Disneys streaming services, including Disney+, Hulu, and ESPN+, onto its platform, the agreement improves DirecTVs offers with genrespecific bundles. This deal, which guarantees ESPNs future streaming service distribution rights, strengthens Disneys financial conditions and coincides with Disneys anticipated excellent performance at the Emmy Awards. The resolution underscores the continuous modifications in the television sector as content creators and suppliers respond to the increasing prominence of streaming services and changing customer tastes. Read More..

B2B Tech News | 1 years ago        

Putin Announces Potential BRICS Expansion as 34 Countries Express Interest

On September 12, 2024, in Saint Petersburgs Konstantinovsky Palace, Russian President Vladimir Putin met with senior leaders of the BRICS nations. Dur

On September 12, 2024, in Saint Petersburgs Konstantinovsky Palace, Russian President Vladimir Putin met with senior leaders of the BRICS nations. During the gathering, Putin—whose nation is this years BRICS president—announced that the organisation may grow. A new category for partner nations has sparked talks among current members of BRICS after he disclosed that 34 countries have expressed interest in joining. The twoday BRICS security conference includes this meeting centred on forming the next global order. The group, comprised of Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates, promotes multipolarity and changes to international organisations, including the UN, IMF, and World Bank. Read More..

B2B Tech News | 1 years ago        

MBK Partners and Young Poong Launch $1.5 Billion Hostile Bid for Korea Zinc Stake

Korea Zinc has described the 2 trillion won tender offer from South Korean zinc producer Young Poong and private equity firm MBK Partners to purchase

Korea Zinc has described the 2 trillion won tender offer from South Korean zinc producer Young Poong and private equity firm MBK Partners to purchase a share in the company as a "hostile" takeover effort. The offer is to buy 6.98% to 14.61% of the firm, or 1.44 million to 3.02 million shares, for 660,000 won each. The shares of Young Poong increased by the daily maximum of 30% on Friday, while the shares of Korea Zinc climbed by 19.8%. Young Poong now owns 25.4% of Korea Zinc. In addition to increasing company value and governance, MBK Partners wants to become the biggest shareholder. However, Korea Zinc sees the offer as a predatory attempt to unseat its current management, pointing to recent security breaches at Young Poongs smelter. Read More..

B2B Tech News | 1 years ago        

Mitsubishi Reaches Deal to Invest in ExxonMobil’s LowCarbon Hydrogen Facility in Texas

Acquiring a portion of ExxonMobils Texas hydrogen facility and offtake lowcarbon ammonia generated there is the preliminary arrangement that Japanese

Acquiring a portion of ExxonMobils Texas hydrogen facility and offtake lowcarbon ammonia generated there is the preliminary arrangement that Japanese trading company Mitsubishi announced on Friday. This action helps Japan achieve its decarbonisation objectives, which include using more ammonia and hydrogen in manufacturing steel, electricity, and other industrial uses. The project owned by ExxonMobil is anticipated to produce more than a million tonnes of lowcarbon ammonia yearly and up to one billion cubic feet of hydrogen per day with 98% CO2 removal. In addition to potentially turning a portion of its LPG terminal into an ammonia terminal, Mitsubishi intends to use it in Japan in partnership with Idemitsu Kosan 5019.T, a Japanese oil refinery. Read More..

B2B Tech News | 1 years ago        

Cathay Pacific Repurchases All GovernmentIssued Warrants in $196 Million Buyback

The buyback of all the warrants valued at HK$1.53 billion $196.2 million awarded to the Hong Kong government in 2020 has been completed, according to

The buyback of all the warrants valued at HK$1.53 billion $196.2 million awarded to the Hong Kong government in 2020 has been completed, according to a statement released on Friday by Cathay Pacific. In light of the difficulties encountered during the epidemic, the airline undertook this buyback as part of its recapitalisation efforts. This decision has significantly advanced the companys financial recovery and strategic restructuring. Cathay Pacific hopes to improve its financial stability and fortify its balance sheet by repurchasing these warrants. After a period of economic instability, the airlines commitment to stabilising its operations and increasing shareholder value is demonstrated by this buyback. Read More..

B2B Tech News | 1 years ago        

Amazon Invests $660 Million to Increase Delivery Driver Wages and Enhance Safety Features

Amazon declared it will invest $660 million over the following year to increase pay for its Delivery Service Partners DSP. Through this program, the a

Amazon declared it will invest $660 million over the following year to increase pay for its Delivery Service Partners DSP. Through this program, the average national salary for drivers is expected to rise by $1.50 to about $22 per hour, or 7% more than the previous year. The money totals $12.3 billion over six years as part of a more significant $2.1 billion investment in the DSP program. Amazon will also release an app that lets drivers get up to 50% of their earned income early and utilise artificial intelligence AI to improve safety by supplying 18 million safety cues for 200 million roadways. This action is in response to recent NLRB rulings that raise questions about Amazons possible joint employer status with contractors, something the firm contests. 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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5.  Approximately 8 billion gadgets connect on the internet every day.
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