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Bitcoin Volatility Persists, Dips Below $71,000 Amid Strong Jobs Report

Bitcoin had significant volatility over the weekend, falling below $71,000 in response to a strong May employment report that surprisingly added 272,0

Bitcoin had significant volatility over the weekend, falling below $71,000 in response to a strong May employment report that surprisingly added 272,000 jobs and raised hopes for possible interest rate reductions in September. Despite the decline, Bitcoin is still above $69,000, indicating a cautious attitude among investors. The upbeat jobs news also caused a selloff in the larger cryptocurrency market, with meme currencies like GME suffering significant losses. The activity in the derivatives market increased, and at the same time, as inflows into spot Bitcoin ETFs persisted, positions in Bitcoin futures reached a record high of $37.7 billion. If Bitcoin breaks over $72,000 and completes an inverted headandshoulders pattern, analysts predict it might go for $83,000. Read More..

B2B Tech News | 1 months ago        

Tesla Courts Retail Investors Amidst Controversy Over Elon Musks Pay Package

Tesla is looking to its retail investors, who make up a sizable chunk of its ownership base, for support as its $56 billion compensation plan for Elon

Tesla is looking to its retail investors, who make up a sizable chunk of its ownership base, for support as its $56 billion compensation plan for Elon Musk has caused debate among large shareholders. Even while small investors prefer to support management, Tesla faces difficulties because of their propensity to abstain from voting, mainly when the next annual meeting turns into a vote on Musks leadership. Retail investors are aggressively courted through outreach activities despite conflicting signals from large investors like T. Rowe Price and CalPERS. Musk has reported significant support for the compensation settlement. The success of these initiatives still needs to be determined since influential proxy advisers warn against ratifying the package. Read More..

B2B Tech News | 1 months ago        

Cognizant Technologies Acquires Belcan in $1.3 Billion Deal

Cognizant Technologies said it acquired digital engineering firm Belcan for around $1.3 billion in cash and shares to strengthen its position in the a

Cognizant Technologies said it acquired digital engineering firm Belcan for around $1.3 billion in cash and shares to strengthen its position in the aerospace, defence, space, and automotive industries. Owned by the private equity group AE Industrial Partners, Belcan is a Cincinnatibased company with 10,000 employees spread over 60 facilities worldwide, catering to clients including NASA, General Motors, and Boeing. Cognizant CEO Ravi Kumar emphasised Belcans connection with the rapidly expanding aerospace and defence industry. Also, he saw potential synergies between Cognizants industrial manufacturing and automotive competencies and Belcans technical experience. If client expenditure slows as anticipated, the transaction will allow Belcan to function as a single entity under the direction of Cognizant and strengthen the companys specialisation plan. Read More..

B2B Tech News | 1 months ago        

Germany Unveils €23 Billion Tax Cuts to Mitigate Inflation Impact

Germanys €23 billion tax cuts are primarily intended to reduce fiscal drag by raising income tax levels, which should lessen the impact of inflation

Germanys €23 billion tax cuts are primarily intended to reduce fiscal drag by raising income tax levels, which should lessen the impact of inflation on household budgets. This effect, known as cold progression, happens when inflation forces earnings into higher tax levels, eroding nominal pay growth. The threephase plan calls for increasing the taxfree limit to €12,336 by 2026 and modifying the tax bands to €69,798. Minister of Finance Christian Lindner justified the action as fair, pointing out how citizens are affected by inflation. However, coalition partners, who worry about a budget deficit in light of Lindners strict debt limits, have criticised the move. This action has heightened calls for more significant public investment amid more extensive economic investigation. Read More..

B2B Tech News | 1 months ago        

Norways Sovereign Wealth Fund to Oppose Tesla CEO Elon Musks $56 Billion Pay Package

Following its invalidation by a Delaware judge, Tesla CEO Elon Musks $56 billion compensation plan is up for shareholder vote next week. Norways $1.7

Following its invalidation by a Delaware judge, Tesla CEO Elon Musks $56 billion compensation plan is up for shareholder vote next week. Norways $1.7 trillion national wealth fund stated its intention to vote against ratification. Musks leadership value has been acknowledged by the fund since 2018. Still, the fund expressed concerns about the awards magnitude, performance triggers, dilution, and critical person risk mitigation. The fund, which voted against the deal in 2018, wants a positive conversation with Tesla. In light of current labour problems, it also backs a shareholder motion that calls Tesla to embrace freedom of association and collective bargaining. The fund supported Kimbal Musks reelection to the board and voted to move Teslas incorporation to Texas. Read More..

B2B Tech News | 1 months ago        

Modis Swift Action Releases 17th Instalment of PM Kisan Nidhi

Prioritising the welfare of farmers, Prime Minister Narendra Modi did not waste any time approving the release of the 17th instalment of PM Kisan Nidh

Prioritising the welfare of farmers, Prime Minister Narendra Modi did not waste any time approving the release of the 17th instalment of PM Kisan Nidhi by signing the first file of his third term. A significant 9.3 crore farmers stand to gain from this action, which would cost about ₹20,000 crore. Modi reaffirmed the administrations unwavering commitment to "Kisan Kalyan," emphasising the importance of agricultural success. The swift response demonstrates the governments increased emphasis on rural India after the recent election victory, indicating a sustained dedication to meeting farmer demands and supporting the agriculture industry. Read More..

B2B Tech News | 1 months ago        

Putin Remains Bullish on Russias Economic Growth Amid Sanctions

At the St. Petersburg International Economic Forum, President Vladimir Putin gave investors comfort by emphasising Russias economic resiliency in the

At the St. Petersburg International Economic Forum, President Vladimir Putin gave investors comfort by emphasising Russias economic resiliency in the face of harsh international sanctions related to its activities in Ukraine. Putin highlighted the nations growing economic connections with the Middle East, Asia, and Africa. Putin underlined Russias continuous involvement in international commerce despite the restrictions limiting participation by Western authorities and investors. He said that the crisis in Ukraine, which has grown economically consequential for the Kremlin, was partially to blame for Russias economic expansion. Putin emphasised governmental investment in military equipment and volunteer support as drivers of economic success despite obstacles like limited imports. In addition, Putin discussed possible reprisals against NATO partners, highlighting Russias preparedness to use nuclear and longrange weaponry to protect its sovereignty. Read More..

B2B Tech News | 1 months ago        

Walmarts Flipkart and PhonePe Eye IPOs in the Coming Years, Says Executive

Executive vice president for corporate affairs at Walmart, Dan Bartlett, indicated that initial public offerings IPOs may occur in the coming years fo

Executive vice president for corporate affairs at Walmart, Dan Bartlett, indicated that initial public offerings IPOs may occur in the coming years for the companys Flipkart marketplace and PhonePe digital payments network. Despite Flipkarts maturity, PhonePes IPO may be given priority due to its significance in Indias digital payments market. One crucial issue Bartlett emphasised was PhonePes connectivity with Indias Unified Payments Interface UPI. Before PhonePe goes public, procedures must be set up, including thoughts about listing on the Indian exchange or elsewhere. With their strong growth, Flipkart and PhonePe both have the potential to develop into $100 billion companies. In the fiscal year 2023, PhonePes revenue increased by 77%, demonstrating its substantial market dominance in digital payments in India. Read More..

B2B Tech News | 1 months ago        



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