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Skydance Media to Acquire Paramount in $4.5 Billion Merger Deal

A historic merger agreement between Skydance Media and Paramount Global has been revealed, ushering in a new era for Hollywood. For a cash payment of

A historic merger agreement between Skydance Media and Paramount Global has been revealed, ushering in a new era for Hollywood. For a cash payment of $2.4 billion, Skydance will purchase National Amusements, the company that owns the Paramount portion held by the Redstone family. After that, Skydance and Paramount will merge, giving stockholders $4.5 billion in cash or shares and adding an extra $1.5 billion to Paramounts balance sheet. Skydances chairman and CEO, David Ellison, will be joining as president by former NBCUniversal CEO Jeff Shell. Through Skydances technology and creative vision, the purchase seeks to strengthen Paramount in the face of industry shifts by reviving the companys content and streaming platforms in the face of competition. Read More..

B2B Tech News | 1 years ago        

Taiwans Central Bank Delays Digital Currency Launch, Cites Complexity

The Central Bank of Taiwan declared no predetermined date for introducing a digital currency, describing the procedure as "huge and complex." The bank

The Central Bank of Taiwan declared no predetermined date for introducing a digital currency, describing the procedure as "huge and complex." The bank intends to host public hearings next year to provide information and solicit public opinion. As the bank works on a pilot project to test a governmentrun digital currency that would replace debit and credit cards for payment, it is concentrating on enhancing the effectiveness and creativity of the current payment system. The initiatives wideranging effects necessitate intensive communication. Currently, 134 nations are investigating virtual currencies, several of which are in advanced stages of development. Digital currencies have generated protests due to possible government monitoring despite their promise of additional features and cash substitutes. Read More..

B2B Tech News | 1 years ago        

Gabon Resolves Payment Dispute with World Bank, Arrears Repaid

It seems that Gabon and the World Bank have settled their payment issue. The country in central Africa could not fulfil its obligations by June 30 due

It seems that Gabon and the World Bank have settled their payment issue. The country in central Africa could not fulfil its obligations by June 30 due to technological difficulties. The Ministry of Public Accounts of Gabon verified the repayment of arrears to the World Bank in an undated declaration. This comes after a confidential World Bank memo was leaked on July 1, stating that Gabons ability to withdraw grants and loans was halted for noncompliance, affecting payments of almost $17 million. The Gabonese transitional government, which replaced the previous government, said it would honour its pledge to pay off all existing bills while pointing to inherited debts. Read More..

B2B Tech News | 1 years ago        

Glencores $6.93 Billion Teck Resources Deal Approved by Canada, Focus on Job Protection

Under stringent guidelines to protect workers, the Canadian government has authorised Glencores takeover of Teck Resources steelmaking coal subsidiary

Under stringent guidelines to protect workers, the Canadian government has authorised Glencores takeover of Teck Resources steelmaking coal subsidiary. For Elk Valley Resources EVR, Glencore will guarantee that most of the companys directors are Canadian for a minimum of ten years, and the company will continue to employ a sizable number of people for five years. Teck intends to buy up to C$2.75 billion of its Class B shares, pay down up to $2 billion in debt, and finance the expansion of its copper business with the revenues from the sale. By July 11, the deal is anticipated to be finalised, and Canada will impose strict limits on future mergers and acquisitions involving vital minerals. Read More..

B2B Tech News | 1 years ago        

Shell Faces $2 Billion Impairment Charge on Singapore Refinery, Biofuel Plant Suspension

Shell SHEL.L said that after selling its refinery in Singapore and stopping work on a sizable biofuel project in Europe, it would face an impairment c

Shell SHEL.L said that after selling its refinery in Singapore and stopping work on a sizable biofuel project in Europe, it would face an impairment charge of up to $2 billion. The British energy business stopped development at the Rotterdam project in the Netherlands, which was initially scheduled to start producing 820,000 metric tonnes of biofuels yearly, citing unfavourable market circumstances. In connection with this decision, Shell expects a noncash, posttax impairment of between $600 million and $1 billion, which will be disclosed in its secondquarter earnings on August 1. Furthermore, Shell anticipates an impairment of between $600 million and $800 million on its chemicals hub and refining facility in Singapore, which it announced for sale in May. Read More..

B2B Tech News | 1 years ago        

Atos Secures €575 Million in ShortTerm Financing

The French technology company Atos reported obtaining $621 million in shortterm financing in two loan tranches totalling €575 million. These compris

The French technology company Atos reported obtaining $621 million in shortterm financing in two loan tranches totalling €575 million. These comprise two revolving loan amounts of €225 million and €350 million, contingent on bondholders amending earlier arrangements. Atos anticipates signing this amendment shortly. Furthermore, the business was granted a waiver by banks about a €1.5 billion term loan. By the end of the month, Atos still hopes to secure a definitive restructuring deal. Read More..

B2B Tech News | 1 years ago        

Chinese Manufacturers Pivot Investments to Morocco in Wake of U.S. EV Subsidies

Chinese firms are moving their investments to Morocco in response to US incentives meant to increase local production of electric vehicles EVs and les

Chinese firms are moving their investments to Morocco in response to US incentives meant to increase local production of electric vehicles EVs and lessen dependency on Chinese supply chains. Moroccos selling point is that the country has free trade agreements with the United States, making EV parts eligible for subsidies. Since the Inflation Reduction Act was enacted, at least eight Chinese battery manufacturers have announced investments in Morocco due to this action. Aiming to take advantage of US incentives, joint ventures and new factories—such as Africas first EV battery facility by ChineseGerman company Gotion HighTech—are being established. Morocco is essential as the global EV rivalry heats up due to its advantageous location and commercial connections. Read More..

B2B Tech News | 1 years ago        

Koo Announces Shutdown Amid Failed Partnership Negotiations

CEO Aprameya Radhakrishna and cofounder Mayank Bidawatka of Koo, an Indian social networking site, have stated that the platform is closing due to uns

CEO Aprameya Radhakrishna and cofounder Mayank Bidawatka of Koo, an Indian social networking site, have stated that the platform is closing due to unsuccessful partnership discussions. Financial challenges made worse by excessive operating expenses led to the decision. After its launch in 2020, Koo acquired notoriety in 2021 due to a disagreement between Twitter and Indian authorities, drawing politicians looking for a substitute platform. Earlier in 2022, there were rumours that Dailyhunt was discussing buying Koo through a share exchange, but the agreements specifics remained unknown. Koo decided to close its doors because it could not raise enough money to cover its operating costs, even after raising over $60 million from investors like Accel and Tiger Global. 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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