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Electric Vehicle Startup Fisker Seeks Restructuring Advisors Amid Bankruptcy Considerations

According to sources quoted by the Wall Street Journal, Fisker, an electric vehicle company, has hired restructuring counsel in anticipation of filing

According to sources quoted by the Wall Street Journal, Fisker, an electric vehicle company, has hired restructuring counsel in anticipation of filing for bankruptcy. To help manage the possible procedures, the corporation has enlisted the legal firm Davis Polk and financial consultant FTI Consulting. Fisker chose not to address the issue. Fisker has previously expressed worries about goingconcern issues, staff cutbacks, and suspending investments until a manufacturing relationship is secured. According to earlier reports, Nissan discussed investing in Fisker and maybe obtaining access to their electric pickup vehicle. Read More..

B2B Tech News | 1 months ago        

Australia Launches TradeBoosting Program for Southeast Asia, Malaysia Among First Recipients

Don Farrell, Australias Minister of Trade and Tourism, stated that Malaysia will be among the first countries to benefit from Australias governments n

Don Farrell, Australias Minister of Trade and Tourism, stated that Malaysia will be among the first countries to benefit from Australias governments new tradeboosting initiative for Southeast Asia. The programme, which focuses on trade prospects, especially in the transition to sustainable energy, will launch next month with visits to Singapore and Malaysia. The AustraliaSoutheast Asia business exchange, which has invested more than AU$19 million, seeks to promote direct communication between Australian companies and the area. Even though Southeast Asia has a sizable market, only around 30% of Australias overall exports go to this region. In addition to highlighting the regions many potentials, ASEAN SecretaryGeneral Kao Kim Hourn emphasised the importance of sustainability initiatives and the quest for carbon neutrality as critical tactics for the regions economic development. Read More..

B2B Tech News | 1 months ago        

Singapores Economic Outlook Brightens for 2024 GDP Growth Forecast at 2.4%

The prognosis for Singapores economy in 2024 has brightened, with 2.4% growth and 3.1% inflation lowered down from initial projections. The manufactur

The prognosis for Singapores economy in 2024 has brightened, with 2.4% growth and 3.1% inflation lowered down from initial projections. The manufacturing sector, predicted to rise by 4%, up from 2.3%, is anticipated to lead this expansion. The lodging, food services, and wholesale and retail commerce industries have had their predictions lowered. GDP growth in the first quarter is expected to be 2.6%, with Taylor Swifts performances playing a significant role in this increase. Despite decreased inflation expectations, the Monetary Authority of Singapores core inflation index has remained the same. At the April 2024 review, no monetary policy adjustments are anticipated due to the economys steady state. Singapores monetary policy is centred on exchange rates, allowing flexibility within a specified range for key trading partners currencies. Read More..

B2B Tech News | 1 months ago        

HSBC Raises Zomatos Target Price to ₹200, Maintains Buy Rating on Growth Prospects

With the expectation of increased digital expenditure in India, HSBC has increased Zomatos target price to ₹200 per share and kept its Buy rating. T

With the expectation of increased digital expenditure in India, HSBC has increased Zomatos target price to ₹200 per share and kept its Buy rating. The firm is nonetheless upbeat about Zomatos prospects for speedy commerce and its continued growth in market share in meal delivery. It raises its order growth rates and gross order value predictions, anticipating surprises in Blinkits growth and profitability. In the long run, HSBC believes that Blinkits advertising income will account for almost all its EBITDA margin. It predicts an increase in digital advertising spending in India, with Blinkits share projected to expand because of its digital ads that can be tracked. Zomatos stock has increased significantly recently, indicating investors confidence. Zomato shares were trading on the BSE at ₹153.20 a share as of 1100 am. Read More..

B2B Tech News | 1 months ago        

African Development Bank President Urges African Nations to Shift Away from Natural ResourceBacked Loans

The African Development Banks chief, Akinwumi Adesina, urges African nations to stop depending on loans backed by natural resources because of their i

The African Development Banks chief, Akinwumi Adesina, urges African nations to stop depending on loans backed by natural resources because of their inherent shortcomings. He highlights the difficulties in valuing natural resources and the power disparities that benefit lenders during negotiations. Adesina draws attention to instances such as Chad, where financial problems brought on by oilbacked loans forced nations to utilise resource earnings to pay off debt. He emphasises these loans obstacles to longterm debt management and urges measures to renegotiate them. Adesina cautions that major lenders like China and Western organisations are backing these loans. To protect the economic stability of African states against corruption and exploitation, urgent collective action is required. Read More..

B2B Tech News | 1 months ago        

Cathay Pacific Airways Reports $1.25 Billion Profit for 2023, Plans Workforce Expansion

Cathay Pacific Airways 0293.HK of Hong Kong announced a profit for 2023 of HK$9.79 billion $1.25 billion, the airlines first yearly profit since 2019.

Cathay Pacific Airways 0293.HK of Hong Kong announced a profit for 2023 of HK$9.79 billion $1.25 billion, the airlines first yearly profit since 2019. Given this favourable financial result, Cathay intends to recruit around 5,000 new workers this year, or a 20% increase in staff. This hiring initiative is part of Cathays efforts to recover from the adverse effects of COVID19, which caused the airline to suffer significant losses in the past, including a HK$6.6 billion deficit in 2022. Cathay is less aggressive regarding capacity restoration than its nearest competitor, Singapore Airlines SIAL.SI. However, it plans to restore 80% of its prepandemic passenger flights by the second quarter of 2023. Fullservice passenger and freight airline Cathay Pacific has two subsidiaries the lowcost airline HK Express and cargo carrier Air Hong Kong. Read More..

B2B Tech News | 1 months ago        

Volvo Cars Invests in Breathe Battery Technologies to Accelerate EV Charging Innovation

Volvo Cars has invested in the UK business to use Breathe Battery Technologies battery software and save thirty per cent of the charging time of its f

Volvo Cars has invested in the UK business to use Breathe Battery Technologies battery software and save thirty per cent of the charging time of its forthcoming Electric Vehicles EVs. Through the Volvo Cars Tech Fund, the funding allows collaboration to prioritise innovation and address consumer problem areas. EVs can securely charge at full power because of Breathes algorithmbased charging software, which also improves battery health monitoring. This development is essential for quickening the adoption of EVs. The current software from Breathe, installed in Oppo smartphones, improves battery performance and longevity. Plans aim to expand these advantages to include EV batteries. Breathes cooperation with Volvo is a crucial step towards softwaredriven battery breakthroughs in the automobile sector, even though particular collaborations are still secret. Read More..

B2B Tech News | 1 months ago        

Oracle Surpasses Quarterly Profit Estimates, Soars on Nvidia Collaboration News

Driven by the spike in demand for generative AI, Oracle ORCL.N surpassed quarterly profit projections and announced a cooperative venture with chip gi

Driven by the spike in demand for generative AI, Oracle ORCL.N surpassed quarterly profit projections and announced a cooperative venture with chip giant Nvidia NVDA.O. After hours of trading, the announcement sent Oracles shares up by over 14%, increasing the companys market worth by over $40 billion. Oracle has partnered with Microsoft and Nvidia to deliver competitive services as it becomes a cloud computing provider. Oracles Gen2 AI infrastructure is in great demand, as seen by the companys enormous contracts for cloud infrastructure capacity, which CEO Safra Catz emphasised. Although sales were somewhat below projections, the quarterly profit exceeded expectations, and the rise in Remaining Performance Obligations points to good future outcomes. Oracles sales growth prediction for the upcoming quarter was similar to what experts had anticipated. Read More..

B2B Tech News | 1 months 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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