Header-template

BUSINESS NEWS

Bain Capital to Increase Bid for Fuji Soft to 9,600 Yen, Outbidding KKR

U.S. private equity company Bain Capital intends to increase its bid for Fuji Soft of Japan to 9,600 yen $63.35 per share, above rival KKRs most recen

U.S. private equity company Bain Capital intends to increase its bid for Fuji Soft of Japan to 9,600 yen $63.35 per share, above rival KKRs most recent offer of 9,451 yen per share. This new bid, 1.6% more than KKRs, exacerbates the rivalry between the two companies for the $4 billion software business. Japans increasing popularity as a top location for mergers and acquisitions is reflected in the ongoing competition for Fuji Soft. In the first ten months of this year, inbound M&A activity reached a record $81 billion, a considerable rise over the previous year. Before, KKR had increased its offer from an 8,800 yen initial offering. Read More..

B2B Tech News | 2 months ago        

U.S. Commerce Department Finalizes $6.165 Billion Subsidy for Micron Technology’s Chip Manufacturing

The $6.165 billion subsidy for Micron Technology to increase semiconductor production in New York and Idaho has been finalised by the U.S. Commerce De

The $6.165 billion subsidy for Micron Technology to increase semiconductor production in New York and Idaho has been finalised by the U.S. Commerce Department. This is one of the most significant government subsidies under the $52.7 billion CHIPS and Science Act, supporting Microns intention to invest almost $100 billion in New York and $25 billion in Idaho. The subsidy allots $1.5 billion for Idaho and $4.6 billion for New York. Furthermore, a preliminary agreement suggests spending up to $275 million to update Microns facilities in Virginia. By 2035, these expenditures should boost U.S. advanced memory chip production from less than 2% to roughly 10% and generate about 20,000 new jobs, improving the nations technological prowess in vital industries like artificial intelligence and the automotive sector. Read More..

B2B Tech News | 2 months ago        

Google Pushes U.S. Government to Break Microsoft’s Exclusive OpenAI Cloud Agreement

Google has apparently encouraged the U.S. government to sever Microsofts exclusive contract to host OpenAIs technology on its cloud servers. This came

Google has apparently encouraged the U.S. government to sever Microsofts exclusive contract to host OpenAIs technology on its cloud servers. This came after the United States Federal Trade Commission FTC enquired about Microsofts business practices. To ensure their cloud clients arent dependent on Microsoft for access, rival tech companies like Google and Amazon are looking to host OpenAIs models. The report claims that customers who use OpenAIs technology through Microsoft may be charged more if they dont use Microsoft servers. Google and its rivals contend that this could have a detrimental effect on customers. Microsoft, OpenAI, and the FTC have not replied to media demands for more information, while Google has declined to comment. Read More..

B2B Tech News | 2 months ago        

Australia’s Central Bank Holds Interest Rates Steady at 4.35%, Signals Confidence in Inflation Control

In a softer stance on inflation, Australias central bank said it has "some confidence" that inflation is returning to target levels, maintaining inter

In a softer stance on inflation, Australias central bank said it has "some confidence" that inflation is returning to target levels, maintaining interest rates at 4.35% during its yearend meeting. The market anticipated a possible rate decrease in February, with full easing expected by April, and the Australian dollar fell 0.8% to $0.6380 as threeyear bond futures increased. Despite the temporary government subsidies that caused headline inflation to decline to 2.8% in the third quarter, core inflation is still stubbornly high at 3.5%. Along with dismal economic growth figures, analysts predict that the RBAs departure from a hawkish stance may trigger a dovish turn and potential rate decreases in early 2024. Read More..

B2B Tech News | 2 months ago        

Adani Group Announces $88.5 Billion Investment in Rajasthan Amid Political Controversy

The first significant investment since U.S. authorities charged billionaire founder Gautam Adani and senior executives with bribing officials to obtai

The first significant investment since U.S. authorities charged billionaire founder Gautam Adani and senior executives with bribing officials to obtain power contracts, the Adani Group of India has announced plans to invest more than 7.5 trillion rupees $88.5 billion in Rajasthan. As opposition parties accuse Modis Bharatiya Janata Party BJP of shielding Adani, the statement was made at a Jaipur event that Prime Minister Narendra Modi attended. Despite these accusations, Adanis finance chief reiterated that investment plans are proceeding as planned. The money will go towards industries like cement, renewable energy, and logistics. Significant investments will be made in new cement factories and developing a vast green energy ecosystem with a capacity of 100 gigawatts. Read More..

B2B Tech News | 2 months ago        

AllianceBernstein Prepares $225 Million Lawsuit Against Switzerland Over Credit Suisse Collapse

AllianceBernstein, a U.S. asset management, is preparing to sue Switzerland for $225 million after UBS acquired Credit Suisse, wiping off $17 billion

AllianceBernstein, a U.S. asset management, is preparing to sue Switzerland for $225 million after UBS acquired Credit Suisse, wiping off $17 billion of the banks debt. AllianceBernstein will be added as a plaintiff in the dispute, which was started by Quinn Emanuel Urquhart & Sullivan on behalf of bondholders of Credit Suisse. A group of bondholders who owned $82 million in Additional Tier 1 AT1 debt from Credit Suisse also sued Switzerland earlier this year to recover damages. Due to the significant losses sustained, bondholders have strongly reacted negatively to Credit Suisses 2023 bankruptcy and subsequent takeover by UBS in a rescue coordinated by Swiss authorities. Read More..

B2B Tech News | 2 months ago        

Omnicom Acquires Interpublic for $13 Billion, Creating Largest Advertising Conglomerate

Omnicom said that it had acquired rival Interpublic for $13 billion in allstock terms, making it the most prominent advertising giant in the world bas

Omnicom said that it had acquired rival Interpublic for $13 billion in allstock terms, making it the most prominent advertising giant in the world based on revenue. The deal, which needs shareholder and regulatory approval, comes as the advertising sector is facing growing competition and threats from tech companies. Omnicom will exchange Interpublic stockholders shares for Omnicom stock by paying a 22% premium over Interpublics latest share price. The anticipated yearly cost savings of $750 million from the deal could balance the $2.4 billion premium. Some industry observers saw the merger as a defensive tactic rather than an inventive one, notwithstanding the financial justification. Under John Wrens leadership, the company will make around $26 billion in 2023. Read More..

B2B Tech News | 2 months ago        

U.S.Taiwan Trade Agreement Set to Take Effect, Strengthening Economic Ties

In a significant step towards deepening economic connections between the two countries, the first agreement under the U.S.Taiwan Initiative on 21st Ce

In a significant step towards deepening economic connections between the two countries, the first agreement under the U.S.Taiwan Initiative on 21st Century Trade will go into effect on Tuesday. This project intends to promote closer cooperation in several sectors, such as anticorruption, customs administration, and trade facilitation for small and mediumsized businesses, in the wake of Taiwans exclusion from the U.S.led IndoPacific Economic Framework in 2022. U.S. Trade Representative Katherine Tai stressed how crucial this deal is to strengthening the economic ties between the United States and Taiwan. The strategic significance of strengthening alliances in the face of a changing global environment was emphasised by Taiwans Office of Trade Negotiations, which shared this sentiment. Current negotiations for a second accord centre on agriculture, labour, and environmental concerns, with hopes of a future free trade agreement. Read More..

B2B Tech News | 2 months ago        



Get The News to use newsletter to
stay on top of shifting Technology News Updates!!

...

Get Latest News To Your Inbox, Subscribe To Our Newsletter.


By signing up, you agree to our Privacy Notice and European users agree to the data transfer policy.



Take a break, Play Suduko!



Refresh Your Facts


1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
   4267   

2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
   2948   

3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
   3242   

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.
   3438   

5.  Approximately 8 billion gadgets connect on the internet every day.
   4426   



Sharpen your mind and memory!

Play Mind Game



Your Opinion Matters, Vote Now!!


Where do you go to learn more about whats happening in your industry? Check all that apply.