Header-template

BUSINESS NEWS

Bapcor Rejects Bain Capitals A$1.83 Billion Buyout Bid, Citing Undervaluation

On Tuesday, Bain Capital made a $1.23 billion $1.83 billion acquisition bid, but Australian auto parts retailer Bapcor BAP.AX turned it down, saying t

On Tuesday, Bain Capital made a $1.23 billion $1.83 billion acquisition bid, but Australian auto parts retailer Bapcor BAP.AX turned it down, saying the amount was too low for the companys actual worth. Cash offers of A$5.4 per share were made by Bain Capital, marking a substantial 23.9% premium over Bapcors closing price on June 7. According to Bapcor—which runs wellknown Australian companies including Autobarn and Midas—accepting the offer would not be in the best interests of its stockholders. In addition, Angus McKay was named executive chairman and CEO by the corporation, and it also disclosed that impairment costs would likely have an impact on its statutory net profit after taxes for the second half. Read More..

B2B Tech News | 6 days ago        

SGX CEO Loh Boon Chye Rules Out Cryptocurrency Listings for Now

Speaking on the ecosystems readiness to accept such products, CEO of Singapore Exchange SGX Loh Boon Chye said that SGX has yet to make plans to enabl

Speaking on the ecosystems readiness to accept such products, CEO of Singapore Exchange SGX Loh Boon Chye said that SGX has yet to make plans to enable cryptocurrency listings on its exchange. With demand, governance, and structure, Loh underlined the significance of a sustainable ecosystem for introducing any new product. He said that adopting cryptocurrency exchangetraded funds ETFs has become a global trend, with notable examples being the United States and Hong Kong. This has resulted in notable price gains for ether and bitcoin. According to Loh, Singapores environment has yet to be ready for cryptocurrency listings despite SGXs reputation for innovation. With difficulties in luring listings of fastgrowing firms, SGX is still concentrating on reviving IPOs and growing its derivatives division. Read More..

B2B Tech News | 6 days ago        

PageGroup Issues Profit Warning Amid Weaker Hiring Activity

Due to a cautious prognosis for the years second half and lowerthanexpected recruiting activity in June, British recruiter PageGroup PAGE.L warned of

Due to a cautious prognosis for the years second half and lowerthanexpected recruiting activity in June, British recruiter PageGroup PAGE.L warned of a reduced yearly profit. With a noticeable decrease in new job registrations and interviews as the quarter went on, CEO Nicholas Kirk saw difficult market circumstances throughout Q2. The organisation needed help getting employment offers approved after interviews. June fees showed an 18% decline from the prior year, contributing to a 12% decline in secondquarter gross profit to 224.3 million pounds $287.2 million. In contrast to the 118.8 million pounds recorded in the previous year, PageGroup now projects fullyear operating profit for 2024 to be about 60 million pounds. Read More..

B2B Tech News | 6 days ago        

Dassault Systemes Cuts 2024 Earnings Outlook Amid Customer Caution

Due to contract delays and cautious consumer spending, the French software giant Dassault Systemes lowered its fullyear profitability goal. The busine

Due to contract delays and cautious consumer spending, the French software giant Dassault Systemes lowered its fullyear profitability goal. The business revised its estimate of a 10% to 12% increase in diluted EPS by 2024 to 8% to 11%. With secondquarter revenue projected at about 1.50 billion euros, below the 1.53 to 1.56 billion target, CEO Pascal Daloz emphasised that "large transaction delays" impacted sales. Despite these setbacks, Dassault is confident that the transactions will close in upcoming quarters. However, it recognises that client decisionmaking is still unpredictable, which calls for a more cautious forecast for the entire year. The business, which supplies software to the industrial, aerospace, and automotive industries, has already disclosed a mixed first quarter. Read More..

B2B Tech News | 6 days ago        

L&T Renewable Energy Division Lands Massive 3.5 GW Solar Project Deal in Middle East

The renewable energy branch of Larsen & Toubro has landed a big contract in the Middle East to build 3.5 GW of solar PV facilities. The agreement, est

The renewable energy branch of Larsen & Toubro has landed a big contract in the Middle East to build 3.5 GW of solar PV facilities. The agreement, estimated to be worth Rs 10,000 crore and Rs 15,000 crore, has clauses about grid interconnections, including overhead transmission lines and pooling substations. As announced to the exchanges on July 8, detailed engineering and preliminary construction operations are expected to start shortly. Even yet, at midmorning on the NSE, shares of Larsen & Toubro were down 0.53%, or Rs 3,608, from their opening price. Read More..

B2B Tech News | 7 days ago        

Chinas Central Bank Introduces Reverse Repos to Manage Market Liquidity

The People’s Bank of China PBOC, the country’s central bank, has declared that it would begin temporary bond repurchase agreements, or reverse rep

The People’s Bank of China PBOC, the country’s central bank, has declared that it would begin temporary bond repurchase agreements, or reverse repos, to improve open market operations’ effectiveness and preserve the banking system’s sufficient liquidity. Overnight loans will be a part of these interim activities, which will be modified in response to market conditions. These transactions will have interest rates ranging from 20 basis points below to 50 basis points over the existing 1.6% and 2.3% sevenday reverse repo rate. According to market commentators, this action may create a new interest rate corridor, giving the PBOC more freedom to control cash circumstances in the face of solid bond demand and successfully stabilise market liquidity. Read More..

B2B Tech News | 7 days ago        

Skydance Media to Acquire Paramount in $4.5 Billion Merger Deal

A historic merger agreement between Skydance Media and Paramount Global has been revealed, ushering in a new era for Hollywood. For a cash payment of

A historic merger agreement between Skydance Media and Paramount Global has been revealed, ushering in a new era for Hollywood. For a cash payment of $2.4 billion, Skydance will purchase National Amusements, the company that owns the Paramount portion held by the Redstone family. After that, Skydance and Paramount will merge, giving stockholders $4.5 billion in cash or shares and adding an extra $1.5 billion to Paramounts balance sheet. Skydances chairman and CEO, David Ellison, will be joining as president by former NBCUniversal CEO Jeff Shell. Through Skydances technology and creative vision, the purchase seeks to strengthen Paramount in the face of industry shifts by reviving the companys content and streaming platforms in the face of competition. Read More..

B2B Tech News | 7 days ago        

Taiwans Central Bank Delays Digital Currency Launch, Cites Complexity

The Central Bank of Taiwan declared no predetermined date for introducing a digital currency, describing the procedure as "huge and complex." The bank

The Central Bank of Taiwan declared no predetermined date for introducing a digital currency, describing the procedure as "huge and complex." The bank intends to host public hearings next year to provide information and solicit public opinion. As the bank works on a pilot project to test a governmentrun digital currency that would replace debit and credit cards for payment, it is concentrating on enhancing the effectiveness and creativity of the current payment system. The initiatives wideranging effects necessitate intensive communication. Currently, 134 nations are investigating virtual currencies, several of which are in advanced stages of development. Digital currencies have generated protests due to possible government monitoring despite their promise of additional features and cash substitutes. Read More..

B2B Tech News | 7 days 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.
   2216   

2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
   2126   

3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
   2457   

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.
   2613   

5.  Approximately 8 billion gadgets connect on the internet every day.
   3616   



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.