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Qualcomm Settles ClassAction Lawsuit for $75 Million

Qualcomm has consented to pay $75 million to settle a classaction complaint alleging that it misled investors by hiding anticompetitive licencing and

Qualcomm has consented to pay $75 million to settle a classaction complaint alleging that it misled investors by hiding anticompetitive licencing and sales practices. The preliminary settlement, an allcash deal submitted to a federal court in San Diego, is pending approval by U.S. District Judge Jinsook Ohta. The case, which was approved as a class action in March 2023, charged Qualcomm with manipulating its stock price between February 2012 and January 2017. Investors said Qualcomm misrepresented the separation between its technology licencing and chip sales, accusing the company of engaging in anticompetitive bundling activities. In consenting to a settlement, Qualcomm and its former CEOs, Paul Jacobs and Steven Mollenkopf, denied any wrongdoing. Requests for comments on the settlement have yet to be received by the corporation. Read More..

B2B Tech News | 1 years ago        

Trump Media & Technology Group Secures SEC Approval for $247 Million Share Resale

The Securities and Exchange Commission has accepted Trump Media & Technology Groups DJT.O application to resell certain shares and warrants, with the

The Securities and Exchange Commission has accepted Trump Media & Technology Groups DJT.O application to resell certain shares and warrants, with the potential to raise to $247 million, the company said on Tuesday. This development enables the firm to move on with the exercise of warrants, putting it in a favourable position to investigate mergers and acquisitions, improve its platform, and explore TV streaming ideas. Despite these possibilities, worries over possible stock dilution caused the companys shares to drop sharply in afterhours trade by roughly 14%. According to Trump Media, the money from these deals will increase its substantial $200 million cash reserves. The firms market valuation is presently $5.53 billion, a 46% decrease from its March Nasdaq IPO. Read More..

B2B Tech News | 1 years ago        

Microsoft in Landmark Purchase of 8 Million Carbon Offset Credits from BTG Pactual TIG

By agreeing to sell Microsoft 8 million carbon offset credits, Brazils BTG Pactual Timberland Investment Group TIG has achieved a significant agreemen

By agreeing to sell Microsoft 8 million carbon offset credits, Brazils BTG Pactual Timberland Investment Group TIG has achieved a significant agreement that is purportedly the largest of its kind to date. These credits came from BTG Pactual TIGs forest restoration initiatives throughout Latin America, eliminating 8 million tonnes of carbon dioxide emissions. By funding emissionreduction initiatives abroad, carbon offset certificates enable businesses like Microsoft to compensate for their greenhouse gas emissions. The deals financial details were kept a secret. Microsoft, wellknown for its aggressive climate objectives, such as achieving carbon neutrality by 2030, still needs to provide a statement about the deal. This accord highlights the increasing significance of carbon markets in international efforts to address climate change. Read More..

B2B Tech News | 1 years ago        

International Day of Family Remittances Celebrates Global Economic Impact

The UNs International Fund for Agricultural Development IFAD created the International Day of Family Remittances IDFR to highlight remittances vital r

The UNs International Fund for Agricultural Development IFAD created the International Day of Family Remittances IDFR to highlight remittances vital role in world economies. Remittance flows have quintupled over the last 20 years, reaching sizeable amounts that support millions, particularly in rural regions confronting poverty and climatic issues. 1.4 billion persons worldwide are still unbanked despite these advancements, with women being disproportionately impacted. Even though they have decreased from 9.7% to 6.2% since 2009, remittance expenses still surpass the 3% objective set by the UN under the Sustainable Development Goals. Although access has increased due to digitalization, there are still issues, particularly in nations like Kenya, where expenses are still high despite significant inflows. IDFR events highlight these issues and celebrate migrant contributions while urging continued efforts to reduce costs and enhance financial inclusion through remittances. Read More..

B2B Tech News | 1 years ago        

Nvidias Market Cap Hits $3.335 Trillion, Overtaking Microsoft

With a market valuation of $3.335 trillion, Nvidia NVDA.O eclipsed Microsoft MSFT.O on Tuesday to take the top spot as the most valuable business in t

With a market valuation of $3.335 trillion, Nvidia NVDA.O eclipsed Microsoft MSFT.O on Tuesday to take the top spot as the most valuable business in the world. Due mainly to its superior processors, Nvidia has risen to the top of the artificial intelligence technological race. Amidst Wall Streets confidence in AI, the chipmakers stock continued its remarkable run, rising 3.5% to $135.58. Nvidias over threefold increase in market value this year alone highlights its superiority in AI chips, even in the face of supply restrictions. Its substantial influence on the market is demonstrated by Nvidia, which currently represents over 16% of all trading in S&P 500 firms, with daily trading volumes averaging $50 billion. Read More..

B2B Tech News | 1 years ago        

Tesla Files $1 Billion Lawsuit Against Matthews International Over Trade Secret Theft

Tesla has sued former supplier Matthews International in federal court in California, claiming that trade secrets about the companys cuttingedge batte

Tesla has sued former supplier Matthews International in federal court in California, claiming that trade secrets about the companys cuttingedge battery manufacturing technology have been stolen and misused. According to the complaint submitted on Friday, Matthews should be compensated for more than $1 billion for allegedly disclosing to rival companies Teslas trade secrets for producing dry electrode batteries. In response, Matthews declared that Teslas lawsuit was an attempt to intimidate and unlawfully take ownership of Matthews intellectual property and vowed to mount a strong defence. Tesla claims that Matthews filed patents utilising its inventions without permission, disclosing private information, and sold devices carrying its trade secrets to unidentified rivals. To stop future use of its trade secrets, Tesla asks the court to step in and demand that Matthews provide over its patent applications in exchange for financial compensation. Read More..

B2B Tech News | 1 years ago        

You.com Raises $50 Million in Series B Funding to Expand AI Assistant Capabilities

The firm behind You.com, SuSea Inc., aims for a valuation of $700 million to $900 million. It is now wrapping up a $50 million Series B investment rou

The firm behind You.com, SuSea Inc., aims for a valuation of $700 million to $900 million. It is now wrapping up a $50 million Series B investment round to strengthen its position in the AI assistant industry. With 1 billion user inquiries handled since its start, You.com has demonstrated its increasing user engagement despite competition from IT behemoths like Microsoft and Google. The platform has changed its emphasis to stand out in a competitive market and evolved into an AI assistant that provides productivity features and internet search skills. You.com, led by CEO Richard Socher previously of Salesforce, uses sophisticated AI models to handle a variety of activities, from writing prose to answering technical questions. Read More..

B2B Tech News | 1 years ago        

Fisker Files for Chapter 11 Bankruptcy Amid Failed Deal Talks

Due to unsuccessful transaction talks with a giant carmaker, Fisker, a U.S. producer of electric vehicles EVs, filed for Chapter 11 bankruptcy protect

Due to unsuccessful transaction talks with a giant carmaker, Fisker, a U.S. producer of electric vehicles EVs, filed for Chapter 11 bankruptcy protection. This left the company exposed after spending a significant amount of money to launch the Ocean SUV in the U.S. and Europe. Fisker Group Inc. disclosed its $500 million to $1 billion in assets and $100 million to $500 million in liabilities in its Delaware bankruptcy case. After negotiations with a giant carmaker broke down in March, Fisker started looking for other restructuring alternatives. Fisker encountered sales, regulatory scrutiny, and financial access difficulties while producing over 10,000 vehicles in 2023—well below projections—and delivering just 4,700. These obstacles stemmed from the competitive EV market circumstances and worldwide supply chain disruptions. Read More..

B2B Tech News | 1 years ago        



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Refresh Your Facts

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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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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