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Canadas Wealth Gap Widens Amidst Economic Shifts, TD Economics Study Shows

Factors such as inflation, rising interest rates, and falling real estate values have contributed to Canadas widening wealth gap, which disproportiona

Factors such as inflation, rising interest rates, and falling real estate values have contributed to Canadas widening wealth gap, which disproportionately affects middleclass households. According to a TD Economics analysis, there hasnt been this much wage disparity since 2015. Even though household net worth increased overall in 2023, wealthier families benefited more from the increase than other households. Due to the depreciation of their real estate holdings and rising debttoincome ratio, middleclass individuals encountered difficulties. Financial restraints on middleclass families, a significant engine of consumption growth, may cause total consumer spending to decline, while higher income spending is likely to maintain economic resilience temporarily. The shortage of available homes in Canada is also a significant factor contributing to the rise in housing costs. Read More..

B2B Tech News | 1 days ago        

AU Small Finance Bank Introduces New Financial Products Including Credit Cards and Business App

The AU SPONT Rupay Credit Card and the Secured Credit Card NOMO, secured by a set deposit, are two new financial products that AU Small Finance Bank

The AU SPONT Rupay Credit Card and the Secured Credit Card NOMO, secured by a set deposit, are two new financial products that AU Small Finance Bank has introduced. To make banking services more accessible to MSMEs, the bank released the AU 0101 Business App. Furthermore, AU SFB introduced WhatsApp and ATM Insurance for immediate insurance issuance. With incentives and features like access to airport lounges, the NOMO Credit Card is designed to accommodate customers with little credit history. For smooth transactions, the AU SPONT Rupay Credit Card interacts with applications that support UPI. The banks founder, MD, and CEO, Sanjay Agarwal, stressed the need for safe credit access and cuttingedge solutions, including insurance purchases made via WhatsApp and ATMs. Read More..

B2B Tech News | 1 days ago        

Spirit AeroSystems Secures $425 Million Advance Payment Deal with Boeing

The U.S. aviation regulators restriction on Boeings 737 MAX manufacturing has created hurdles for Spirit AeroSystems, including low inventory levels a

The U.S. aviation regulators restriction on Boeings 737 MAX manufacturing has created hurdles for Spirit AeroSystems, including low inventory levels and cash flow. Spirit AeroSystems and Boeing have agreed to $425 million in advance payments. This action is being taken in the middle of talks about Boeing possibly purchasing its previous subsidiary Spirit, and as the company struggles with the fallout from a midair panel problem involving a new Alaska Airlines 737 MAX 9. As per the agreement, Spirit is required to sustain a production pace that satisfies Boeings contractual requirement, with the latter stressing their joint efforts to improve quality, stabilise operations, and support customers. Additionally, Spirit will give Boeing specific financial data every week, which will help management in the face of fewer anticipated deliveries and higher manufacturing costs due to regulatory decisions. Read More..

B2B Tech News | 1 days ago        

Teslas Stock Rises Ahead of Quarterly Results Amidst Margin Concerns

Ahead of its firstquarter results, which were predicted to show the lowest gross profit margin in more than six years due to price reductions and wani

Ahead of its firstquarter results, which were predicted to show the lowest gross profit margin in more than six years due to price reductions and waning demand, Teslas shares increased by 2.9%. The introduction of the Model 3s allwheel drive performance model, which is eligible for federal tax credits, came before CEO Elon Musk was expected to be questioned about the future of the Model 2, which was supposed to be affordable. Refocusing attention on a selfdriving robotaxi, Reuters announced its cancellation. Amid worries over Teslas lagging sales growth and frequent price reductions, Musk escalated rumours by cancelling a meeting with the prime minister of India. Analysts predict that yearly sales will begin to fall in 2024, which indicates a problematic future for the manufacturer of electric cars. Read More..

B2B Tech News | 1 days ago        

Ant Group Explores Alipay+ Expansion to Indonesia for CrossBorder Payments

According to Peng Yang, CEO of Ant Groups international business group, the company is in talks with Indonesia to launch its Alipay+ crossborder payme

According to Peng Yang, CEO of Ant Groups international business group, the company is in talks with Indonesia to launch its Alipay+ crossborder payment service. Launched in 2020, Alipay+ enables transactions in foreign markets utilising local ewallets, facilitating crossborder payments for global merchants and ewallet users. Yang stated that the business hopes to begin this year and would work with Indonesias central bank to provide operational guidelines. With the approval of both parties, Ant Group, which is associated with Alibaba Group, aims to increase the size of its financial services presence in Indonesia. Read More..

B2B Tech News | 3 days ago        

Nigerias Daily Crude Oil Production Falls to 1.2 Million Barrels in March

OPEC data shows that Nigerias average daily crude oil output fell to 1.2 million barrels in March from 1.3 million in February. Given that the nation

OPEC data shows that Nigerias average daily crude oil output fell to 1.2 million barrels in March from 1.3 million in February. Given that the nation wants to produce 1.7 million barrels per day, including condensate, by 2024, this decline presents serious obstacles. A significant amount of Nigerias projected income is at risk because of the output deficit related to theft, vandalism, and repair activities. The 2024 budget places a heavy emphasis on oil sales, which is why there is a growing need to diversify sources of revenue. Isaac Botti emphasizes bringing back underutilized industries like manufacturing and agriculture, which have historically been important to Nigerias economy. Heineken Lokpobiri, Minister of State for Petroleum Resources, guarantees prompt corrective action to solve production problems. Read More..

B2B Tech News | 3 days ago        

Wipro Shares Surge 2.4% on Strong FourthQuarter Results

Following its fourthquarter results, which exceeded analysts forecasts and raised confidence in the leadership of new CEO Srinivas Pallia, Wipros shar

Following its fourthquarter results, which exceeded analysts forecasts and raised confidence in the leadership of new CEO Srinivas Pallia, Wipros shares increased by 2.4%. At 1.8% higher, the company is now leading the advances on the Nifty IT index. Despite this rise, Wipros shares have decreased by 4% this year, which contrasts with the performance of its bigger competitors, TCS and Infosys. Pallia stresses expansion above all else in the face of difficulties facing the Indian IT industry. Analysts predict Pallia will improve deal wins and expand on organisational simplicity. Nevertheless, several analysts have reduced Wipros target price in the wake of the findings, and some have even downgraded the company, indicating a cautious attitude despite the encouraging outcomes. Read More..

B2B Tech News | 3 days ago        

Malaysia Unveils Plans for Southeast Asias Largest Integrated Circuit Design Park

Malaysia has revealed plans to create Southeast Asias largest integrated circuit design park to lure international IT businesses, complete with tax ex

Malaysia has revealed plans to create Southeast Asias largest integrated circuit design park to lure international IT businesses, complete with tax exemptions and subsidies. Prioritising Kuala Lumpur as a digital centre for the area, Malaysia hopes to rise in the global startup ecosystem index by 2030. Prime Minister Anwar Ibrahim emphasises the transition in the semiconductor sector from assembly and testing to highvalue frontend design work. With funding from the state of Selangor, the park will work with multinational behemoths like Arm Holdings. To further encourage job creation and entrepreneurial potential, Khazanah Nasional will also create a fund to invest in Malaysian businesses. Incentives such as reduced tax rates and subsidised office premises are also intended to entice global venture capital firms and digital unicorns. Read More..

B2B Tech News | 3 days 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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