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BUSINESS NEWS

U.S. Chip Stocks, Including AMD and Qualcomm, Decline Amid Broader Market Trends

The PHLX semiconductor index fell 2.1% as a result of decreases in U.S. chip companies, notably Advanced Micro Devices AMD, Qualcomm QCOM, and Broadco

The PHLX semiconductor index fell 2.1% as a result of decreases in U.S. chip companies, notably Advanced Micro Devices AMD, Qualcomm QCOM, and Broadcom AVGO. Since December 27, when the index hit a record high, it has decreased by over 7%. As investors wait to learn more about interest rate policy from the Federal Reserves December meeting minutes, this dip is part of a more significant trend on Wall Street. Anticipations of interest rate decreases and excitement regarding artificial intelligence caused the PHLX semiconductor index to rise by 65% in 2023. Leading AIrelated chip maker Nvidia had a quadruple increase in stock market value in 2023. Read More..

B2B Tech News | 1 months ago        

US Dollar Gains Strength, Dollar Index Rises Amid Economic Data Anticipation

The US dollar gained momentum in the financial markets, raising the dollar indexs value relative to other major currencies. The currency market change

The US dollar gained momentum in the financial markets, raising the dollar indexs value relative to other major currencies. The currency market changed before the release of vital economic statistics, such as US job data and European inflation numbers. Investors are carefully monitoring these indicators to get insight into possible actions by central banks, especially the Federal Reserve. With estimates of more than 150 basis points of easing in 2024, the market is now pricing in a strong possibility of interest rate decreases by the Federal Reserve. Meanwhile, a noteworthy surge in Bitcoin occurred, leading to a 21month high of $45,532, as anticipation of SEC approval for Bitcoin ExchangeTraded Funds ETFs grew. Read More..

B2B Tech News | 1 months ago        

Argentina and IMF Nearing Agreement on Crucial Loan Program Review

According to reports, negotiations between Argentina and the International Monetary Fund IMF are approaching the seventh review of Argentinas $44 bill

According to reports, negotiations between Argentina and the International Monetary Fund IMF are approaching the seventh review of Argentinas $44 billion loan programme. Completing this evaluation is an essential prerequisite for the delivery of the next financing tranche. Due to a change in leadership, negotiations between government representatives and IMF staff representatives had to be postponed. However, rumours say an agreement is near, and Argentina aims for approval this month. The review is essential for realigning the contract as it updates the programs performance requirements until September. If approved, it may release around $3.3 billion in payments. Read More..

B2B Tech News | 1 months ago        

Barclays Downgrades Apple Stock to Sell Amid Concerns Over Weak Demand

Barclays reduced its rating on Apples stock to "sell," citing worries about the companys projected sluggish demand in 2024 for its products, which inc

Barclays reduced its rating on Apples stock to "sell," citing worries about the companys projected sluggish demand in 2024 for its products, which include the Mac and iPhone. This action follows a roughly 50% increase in Apples stock in 2023, which saw it hit a record high in midDecember. Due to decreased demand, Apples projected holidayquarter sales fell short of Wall Street projections. The second brokerage to rate the company as a "sell" was Barclays, and their downgrading caused Apples shares to fall by over 3.6%, reaching a sevenweek low. Risks to the services industry and worries about Chinas vulnerability were also discussed. Read More..

B2B Tech News | 1 months ago        

Tesla Clinches Top Spot in Norways Car Sales for Third Consecutive Year

For the third year in a row, Tesla has topped the Norwegian auto sales charts in 2023, taking a 20% market share, up from 12.2%. In Norway, batterypow

For the third year in a row, Tesla has topped the Norwegian auto sales charts in 2023, taking a 20% market share, up from 12.2%. In Norway, batterypowered vehicles accounted for nearly five of every six new automobiles sold last year. In 2023, 82.4% of new vehicle sales were electric, up from 79.3% in 2022. Tesla has succeeded despite an ongoing dispute with Nordic labour unions over the companys refusal to grant Swedish mechanics demands for the right to collective bargaining. By 2025 the Norwegian government wants to stop selling automobiles that run on petrol and diesel. Read More..

B2B Tech News | 1 months ago        

Bank of Korea Governor Expresses Concerns Over Financial Risks Amid Prolonged Tightening

Governor of the Bank of Korea Rhee Changyong voiced worries about the financial dangers associated with extended monetary tightening, noting a struggl

Governor of the Bank of Korea Rhee Changyong voiced worries about the financial dangers associated with extended monetary tightening, noting a struggling builders recent problems as a "warning sign." As South Korea approaches the conclusion of its attempts to control consumer prices, Rhee emphasises the necessity for the proper policy mix while maintaining that managing inflation remains a top concern. He cited concerns about the quality of commercial real estate loans and the debt restructuring of a midsized local developer as red flags. Following market trepidation over Taeyoung Engineering & Constructions debt restructuring, Rhee promised liquidity support. The central banks projection of a gradual return to its 2% objective by the end of 2024 is supported by South Koreas annual consumer inflation slowed to 3.2% in December. Read More..

B2B Tech News | 1 months ago        

Geely Automobile Aims for 1.9 Million Unit Sales in 2024, Eyes 13% Growth

The Chinese automaker Geely Automobile Holdings Ltd. has set a sales volume target of 1.9 million units for 2024, a 13% increase over its total sales

The Chinese automaker Geely Automobile Holdings Ltd. has set a sales volume target of 1.9 million units for 2024, a 13% increase over its total sales in 2023. Although precise numbers were not given, the business also declared that its sales volume objective for new energy vehicles would be exceeded by over 66% compared to the entire sales volume attained in 2023. Geely sold 1,686,516 cars in 2023, an increase of 18% over the year before. Compared to the same period in 2022, the sales volumes in December 2023 increased by 3%. In terms of sales, Geely is the secondbiggest carmaker in China. Read More..

B2B Tech News | 1 months ago        

Indian SUV Market Thrives in December, While Small Car Sales Face Decline

Sports Utility Vehicles SUVs saw a rise in sales in India in December, but sales of compact cars fell even with steep discounts. Mahindra & Mahindra a

Sports Utility Vehicles SUVs saw a rise in sales in India in December, but sales of compact cars fell even with steep discounts. Mahindra & Mahindra and Maruti Suzuki announced yearoveryear increases in domestic SUV sales of 39% and 24%, respectively. The SUV market grew due to the desire for luxury cars, which catered to a wealthier clientele less impacted by price increases. Maruti increased discounts on its entrylevel automobiles due to insufficient demand, despite automakers usually offering higher discounts at yearend. Sales of compact vehicles, such as the Alto and Baleno, decreased by 29%. Read More..

B2B Tech News | 1 months ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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