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JPMorgan Chase Boosts Investment Banking Revenue Forecast by 2530%

JPMorgan Chase JPM.N has updated its forecast for investment banking income, predicting a notable rise of 25% to 30% in the upcoming quarter, mainly d

JPMorgan Chase JPM.N has updated its forecast for investment banking income, predicting a notable rise of 25% to 30% in the upcoming quarter, mainly due to active capital markets. Compared to prior estimates made in May that had indicated a midteens percentage increase, this revised prognosis indicates a more optimistic view. The coCEO of JPMorgans commercial and investment bank, Troy Rohrbaugh, emphasised the firms overall gains throughout its franchise as well as the capital markets ongoing strength. He said that trading revenue is predicted to increase somewhat as well, above earlier projections of growth in the midsingle digits. Read More..

B2B Tech News | 1 years ago        

Senegal Launches Inaugural Offshore Oil Project at Sangomar Fields

Senegals first offshore oil project, Woodside Energy, has gone into production, a significant development for the countrys economic future. The projec

Senegals first offshore oil project, Woodside Energy, has gone into production, a significant development for the countrys economic future. The project, situated near the Sangomar oil resources 100 kilometres offshore, aims to produce 100,000 barrels of oil per day. This comes after Senegals successful exploration campaign in 2014, which sparked expectations for significant financial advantages from oil and gas extraction. Nonetheless, with a new administration taking office this year, there is a renewed emphasis on amending current agreements with foreign companies that have been judged unfavourable. President Bassirou Diomaye Faye strongly emphasises openness and plans to audit the mining, oil, and gas industries to guarantee that Senegal receives equitable advantages. Read More..

B2B Tech News | 1 years ago        

President Tinubu Vows to Push Ahead with Economic Reforms Despite Challenges

President Bola Tinubu of Nigeria acknowledged the countrys difficulties but reiterated his commitment to economic reforms in his Democracy Day speech.

President Bola Tinubu of Nigeria acknowledged the countrys difficulties but reiterated his commitment to economic reforms in his Democracy Day speech. After taking office for a year, Tinubu spoke about the difficulties brought on by recent policy adjustments, such as eliminating fuel subsidies and currency depreciation, which increased inflation to more than 33% by April. He underlined how necessary these measures are to solve persistent economic problems and build a strong basis for future expansion. According to Tinubu, a new minimum salary will also be implemented as part of more significant initiatives to guarantee equitable pay and economic opportunities for all Nigerians. He promised that as his administration pursues its reform programme, it would continue to be receptive to public concerns. Read More..

B2B Tech News | 1 years ago        

Australian Labor Market Surges Adds 39,700 Jobs in May

With 39,700 new jobs added in May, Australias labour market outperformed forecasts, particularly in fulltime employment, which increased by 41,700. In

With 39,700 new jobs added in May, Australias labour market outperformed forecasts, particularly in fulltime employment, which increased by 41,700. In keeping with expectations, the unemployment rate decreased from 4.1% to 4.0%, and the participation rate was steady at 66.8%. Despite these encouraging signs, the Reserve Bank of Australia is anticipated to keep interest rates at 4.35% at its next meeting to promote economic stability in the face of inflation worries. Policy circles were cautiously optimistic, with the economy expanding by barely 0.1% in the first quarter of 2024. According to market opinion, interest rate decreases are expected to be postponed until mid2025, which reflects confidence in the labour markets ability to withstand inflationary pressures and persistent economic difficulties. Read More..

B2B Tech News | 1 years ago        

Apples iPhone Exports Account for 81% of Indias Total iPhone Production Value

Apple Inc. has increased its iPhone exports from India dramatically in the first two months of the current fiscal year FY25, these shipments have exce

Apple Inc. has increased its iPhone exports from India dramatically in the first two months of the current fiscal year FY25, these shipments have exceeded $2 billion, or 81% of the entire value of iPhones produced nationwide. Apples success highlights its dedication to exportoriented production under the productionlinked incentive PLI plan, even if the company declined to comment. The top exporters are Foxconn Hon Hai, Wistron, and Pegatron. With a 40% rise from the previous year, Indias mobile phone exports reached $15.5 billion in FY24 thanks to the boom in iPhone sales, confirming Apples critical position in the countrys electronics export market. Read More..

B2B Tech News | 1 years ago        

Paris Peace Forum Spring Meeting Held in Morocco for the First Time

Being the first Paris forum to be conducted in an African country, the Spring Meeting of the Paris Peace Forum was hosted at the Mohamed VI Polytechni

Being the first Paris forum to be conducted in an African country, the Spring Meeting of the Paris Peace Forum was hosted at the Mohamed VI Polytechnic University in Benguerir, Morocco. Mohammed VI Polytechnic University President Hicham El Habti underlined the significance of adjusting innovations to local settings and the worldwide reach of technology. Nisreen Elsaim emphasised the need to address equity in environmental preservation efforts with her subject of fair transitions, especially concerning energy access in Africa. Amadou Hott emphasised that cooperation between the public and private sectors is essential to fund energy transitions in Africa. The forum culminated in the launch of ATLAS, fostering dialogue and collaboration between Northern and Southern countries and establishing the Global Council for Responsible Transition Minerals, uniting experts for sustainable development initiatives. Read More..

B2B Tech News | 1 years ago        

Russian Foreign Minister Holds Talks with BRICS Counterparts

During the BRICS foreign ministers conference in Nizhny Novgorod, Russia, Russian Foreign Minister Sergey Lavrov held bilateral talks with counterpart

During the BRICS foreign ministers conference in Nizhny Novgorod, Russia, Russian Foreign Minister Sergey Lavrov held bilateral talks with counterparts from Brazil, South Africa, Iran, Laos, Thailand, and Ethiopia. The twoday summit, which takes place on June 10–11, comes before a big BRICS meeting slated to take place in October in Kazan, Russia, during the countrys presidency year. Following the May helicopter disaster that killed Iranian President Ibrahim Raisi and several other officials, Irans Acting Foreign Minister, Ali Bagheri, thanked Lavrov for Russias condolences. Lavrov reaffirmed Moscows backing for Irans will to promote reciprocal cooperation in various areas. Read More..

B2B Tech News | 1 years ago        

Italian AI Startup iGenius Seeks €650 Million for Expansion

The Italian firm iGenius wants to expand its generative artificial intelligence AI technology for the public and financial sectors by raising an addit

The Italian firm iGenius wants to expand its generative artificial intelligence AI technology for the public and financial sectors by raising an additional €650 million $698.56 million. The Milanbased startup, founded in 2016, aims to make a name for itself in Europes developing AI market by competing with significant competitors like Germanys DeepL and Frances Mistral. Angel Capital Management and Eurizon, the asset management division of Intesa Sanpaolo, are among the original investors in this investment round, helping iGenius reach unicorn status with a valuation of more than $1 billion. The injection of funding will bolster the companys attempts to develop AI for regulated sectors. With the release of "Italia," an opensource Large Language Model LLM tool customised for the Italian language and culture, iGenius demonstrated previously unheardof levels of linguistic comprehension accuracy. Read More..

B2B Tech News | 1 years ago        



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