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Silvergate Capital Completes Deposit Repayment, Winds Down Operations

As part of its plan to shut down operations, the cryptocurrencyfocused bank Silvergate Capital has declared that it has fully settled all outstanding

As part of its plan to shut down operations, the cryptocurrencyfocused bank Silvergate Capital has declared that it has fully settled all outstanding deposit liabilities. Following the demise of cryptocurrency exchange FTX, which resulted in the withdrawal of nearly $8 billion in deposits from investors, the bank announced a $1 billion quarterly loss earlier this year. With less than $10,000, Silvergate is still concentrating on carrying out the bank liquidation procedure. Significant losses in the cryptocurrency market in 2022 added to the difficulties organisations involved in the space encountered. Read More..

B2B Tech News | 1 years ago        

Indias DGGI Issues $90 Million Tax Notices to Zomato and Swiggy

Zomato and Swiggy, two food delivery services, are allegedly the target of letters from Indias Directorate General of GST Intelligence DGGI about unpa

Zomato and Swiggy, two food delivery services, are allegedly the target of letters from Indias Directorate General of GST Intelligence DGGI about unpaid taxes totalling around 7.5 billion rupees $90 million. Concerning the supply of a service for which the firms are subject to pay goods and services tax GST from July 2017 to March 2023, the DGGI has submitted tax demands totalling over 4 billion rupees to Zomato and around 3.5 billion rupees to Swiggy. Neither company has yet to provide a statement on the issue. Read More..

B2B Tech News | 1 years ago        

Hensoldt Explores AI and Analytics for Strategic Investments

The German defence electronics manufacturer Hensoldt believes investment potential exists in analytics and artificial intelligence AI. Known for its a

The German defence electronics manufacturer Hensoldt believes investment potential exists in analytics and artificial intelligence AI. Known for its air defence systems and radars, the corporation wants to engage in AI research for all of its goods and services. Hensoldt sees mergers and acquisitions as essential to its growth plan, emphasising European military and security technology sector consolidation. The business has declared its intention to raise funds to pay for the purchase of German military services provider ESG. Read More..

B2B Tech News | 1 years ago        

Challenges Mount for Thyssenkrupp $2.3 Billion Impairment Hits Steel Unit on CoOwnership Struggles

Thyssenkrupp, a German company, revealed an impairment of 2.1 billion euros $2.3 billion on its steel division, claiming a "gloomy" outlook and highli

Thyssenkrupp, a German company, revealed an impairment of 2.1 billion euros $2.3 billion on its steel division, claiming a "gloomy" outlook and highlighting the difficulties in obtaining Czech energy major EPH as a coowner for the company. The fourth quarters net loss was two billion euros as a result of the impairment. Thyssenkrupp has encountered difficulties in its attempts to sell off its steel sector, including the effect of lowcost steel imports from China and issues with CO2 emissions. The business and EPH are discussing a possible steel joint venture in which EPH will help Thyssenkrupp Steel Europe with its energy expertise. Read More..

B2B Tech News | 1 years ago        

Design Software Giant Autodesk Surpasses Expectations, Projects Strong FullYear Revenue

Leading design software provider, Autodesk has predicted fullyear revenue beyond market projections, demonstrating the stability of client expenditure

Leading design software provider, Autodesk has predicted fullyear revenue beyond market projections, demonstrating the stability of client expenditure on its products in the face of economic uncertainty. The companys earnings and sales both increased in the third quarter. As customers in the construction industry want to optimise their industrial design software, Autodesk, wellknown for its AutoCAD software used in engineering, manufacturing, and construction, is benefiting from more sales and recurring income. The business anticipates fullyear sales to be between $5.45 billion and $5.47 billion, above expert projections, indicating a promising picture for the market for design tools in 2023. Read More..

B2B Tech News | 1 years ago        

Tech Titans Unite Broadcom Seals $69 Billion VMware Takeover

On Wednesday, Broadcom aims to finalise the $69 billion acquisition of VMware, a cloud computing company. The deals conclusion represents one of the m

On Wednesday, Broadcom aims to finalise the $69 billion acquisition of VMware, a cloud computing company. The deals conclusion represents one of the most significant acquisitions in the technology sector and comes after Chinas regulatory licences, which were given subject to further stringent requirements. VMwares server software ought to work with regional hardware, according to Broadcom, and the agreement should allow consumers to buy and use Broadcoms technology. Regulators worldwide had been closely monitoring this deal, and there were concerns about its completion given the escalating hostilities between the United States and China. Read More..

B2B Tech News | 1 years ago        

Crypto Lender “Celsius Network” Refocuses on Bitcoin Mining Amid Regulatory Scrutiny

The cryptocurrency lender Celsius Network has redesigned its postbankruptcy plans to concentrate only on bitcoin mining, abandoning its previous goals

The cryptocurrency lender Celsius Network has redesigned its postbankruptcy plans to concentrate only on bitcoin mining, abandoning its previous goals of managing its loans and collecting "staking" fees. The U.S. Securities and Exchange Commission SEC voiced doubts about Celsius first business lines, which impacted the decision. To safeguard consumers, the SEC has been highlighting the necessity of regulation in the cryptocurrency lending and staking sectors. As it winds down its bankruptcy, Celsius intends to sell off certain assets its new company will be centred around bitcoin mining. In the upcoming weeks, the firm anticipates filing to have the amended bankruptcy plan approved by the court. Read More..

B2B Tech News | 1 years ago        

Small and MidCap Sectors Surge in Sales on Back of Capex and B2B Momentum

Jefferies report notes strong sales growth in small and midcap sectors due to capex and B2B companies, offsetting lower sales in consumerfacing firms.

Jefferies report notes strong sales growth in small and midcap sectors due to capex and B2B companies, offsetting lower sales in consumerfacing firms. Electronics manufacturers like Amber Enterprises and Dixon Technologies saw growth due to production incentives, while agrochemicals company UPL faced a sales decline. Despite varied sales performances, these sectors experienced significant profit growth, driven by improved margins and factors like cost adjustments. Margins rose for 70% of the covered companies, notably in building products but declined in certain appliance and electrode sectors due to demand and pricing pressures. Read More..

B2B Tech News | 1 years ago        



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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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