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Reliance Industries to Acquire Paramount Globals Stake in Viacom18 Media for $517 Million

As disclosed by Paramount in a regulatory filing, Reliance Industries has agreed to pay around $517 million 42.86 billion Indian rupees for Paramount

As disclosed by Paramount in a regulatory filing, Reliance Industries has agreed to pay around $517 million 42.86 billion Indian rupees for Paramount Globals full 13.01% ownership in local entertainment network Viacom18 Media. Reliance owns most of Viacom18, a company that runs 40 television networks, including wellknown ones like MTV, Comedy Central, and Nickelodeon. After the agreement closes, Paramount plans to keep licencing its material to Viacom18, using JioCinema from Reliance for streaming. The deals closing is conditioned on Reliances previously disclosed merger with Walt Disney regarding their streaming and India TV businesses. Read More..

B2B Tech News | 1 months ago        

Together AI, Backed by Nvidia, Raises $106 Million in Successful Fundraising Round

Nvidiabacked Together AI revealed on Wednesday that it had completed a successful fundraising round, garnering $106 million and more than tripling its

Nvidiabacked Together AI revealed on Wednesday that it had completed a successful fundraising round, garnering $106 million and more than tripling its valuation to $1.25 billion since last autumn. The fundraising was spearheaded by Salesforce Ventures, with participation from Lux Capital, Emergence Capital, Coatue Management, and other current investors. Established in 2022, Together AI gained popularity by granting users access to Nvidias GPUs. Its goal is to develop a platform that helps programmers create or modify opensource artificial intelligence models. The funding will support growth, the employment of academics for new model architecture, and the lease of more cloud computing capacity. CEO Vipul Ved Prakash positioned the company as a premier location for implementing AI models at scale by highlighting its 45,000+ expanding user base, including global corporations and AI startups. Read More..

B2B Tech News | 1 months ago        

Foxconn Reports 33% Surge in FourthQuarter Profit on Strong Holiday Sales

Foxconn, an important Apple supplier, reported a 33% gain in fourthquarter earnings, attributed to strong sales over the busiest holiday season. For t

Foxconn, an important Apple supplier, reported a 33% gain in fourthquarter earnings, attributed to strong sales over the busiest holiday season. For the October–December quarter, the Taiwanese electronics maker posted a net profit of T$53.14 billion $1.69 billion, an increase from T$40 billion in the same quarter the previous year. This exceeded projections and the T$43.52 billion SmartEstimate from LSEG, which gives priority to estimates from experts who frequently provide accurate forecasts. Given the continued robust demand for consumer electronics, Foxconns success highlights its critical position in the global supply chain. Read More..

B2B Tech News | 1 months ago        

"Fitch Raises Indias FY25 GDP Growth Forecast to 7%" Outlook Brightens

Anticipating a sustained period of solid growth, Fitch Ratings increased its estimate for Indias FY25 GDP growth from 6.5 per cent to 7 per cent. Addi

Anticipating a sustained period of solid growth, Fitch Ratings increased its estimate for Indias FY25 GDP growth from 6.5 per cent to 7 per cent. Additionally, the agency projects that the Reserve Bank of India would lower interest rates by 50 basis points between July and December, resulting in a steady decline in CPI inflation to 4 per cent by the end of 2024. Indias robust economic potential was emphasised by Fitch, which revised its growth projections significantly upward, with 7.8 per cent for FY24 and 7 per cent for FY25. On the other hand, Fitch reduced Chinas 2024 estimate to 4.5 per cent because of difficulties in the real estate market and growing deflationary pressures. Nonetheless, the damage is being lessened by budgetary assistance measures. Additionally, Moodys recently increased its projection of Indias GDP growth in 2024 from 6.1 per cent to 6.8 per cent. Read More..

B2B Tech News | 1 months ago        

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        



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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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