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Bitcoin Surges to TwoYear High Above $57,000 Amid Institutional Buying

Tuesdays Asian trade saw a sharp increase in bitcoin prices, pushing it above $57,000 for the first time in two years due to signs of substantial inst

Tuesdays Asian trade saw a sharp increase in bitcoin prices, pushing it above $57,000 for the first time in two years due to signs of substantial institutional purchasing. Simultaneously, Ether, its smaller equivalent, surpassed $3,200 for the first time in the previous two years. MicroStrategys announcement on Monday that it had purchased almost 3,000 bitcoins, or $155 million, contributed to the cryptocurrencys 10% increase in value in only two sessions. The US governments recent approval of bitcoinbased ExchangeTraded Funds ETFs also aided in the cryptocurrencys growth. Amidst a broadly cautious market environment, trade volumes for numerous ETFs rose on Monday, resulting in profits for firms tied to the cryptocurrency space. Read More..

B2B Tech News | 1 months ago        

Zoom Video Communications Exceeds Expectations with Strong FourthQuarter Results

With rising number of people adopting hybrid work arrangements and strong demand for its increasing product range, Zoom Video Communications fourthqua

With rising number of people adopting hybrid work arrangements and strong demand for its increasing product range, Zoom Video Communications fourthquarter profits exceeded expectations. The companys adjusted earnings per share was $1.42, more significant than the predicted $1.15 per share, while its revenue of $1.15 billion was above analysts projections. The secret to Zooms success is that it strategically focused on incorporating generative AI into its products instead of going after outside businesses to boost income immediately. More than 510,000 accounts have been activated in the last five months due to the positive reception of its AI companion, which was introduced during the third quarter and offers features including meeting summaries and conversation suggestions. Zoom wants to improve its monetization methods and AI capabilities in the future. Read More..

B2B Tech News | 1 months ago        

South Korea Unveils Corporate Governance Reform Plan

Reminiscent of Japans successful corporate governance changes, South Korea proposed a reform package to increase shareholder returns for listed corpor

Reminiscent of Japans successful corporate governance changes, South Korea proposed a reform package to increase shareholder returns for listed corporations. The "Corporate Valueup Programme" promotes initiatives that are done voluntarily to raise dividends and enhance governance. But when the markets expectations were not fulfilled, pressure to take profits increased. According to analysts, investors were disappointed by the ideas lack of strong incentives. The benchmark KOSPI index dropped, which had a significantly negative impact on cheap industries like banks and automobiles. Preferential tax treatment and the implementation of a shareholder value index are being studied as ways to encourage voluntary improvements. Despite these efforts, South Koreas market performance continues to lag behind its international counterparts, with many firms trading below book value. Read More..

B2B Tech News | 1 months ago        

Ant Group Outbids Citadel Securities for Credit Suisses China Venture

According to reports, Ant Group, a fintech behemoth, outbid Citadel Securities for Credit Suisses Chinese investment bank business. Beijing wants a fo

According to reports, Ant Group, a fintech behemoth, outbid Citadel Securities for Credit Suisses Chinese investment bank business. Beijing wants a foreign buyer, so Ants attempt to take over Credit Suisses businesses will be closely watched. UBS, the company that now owns Credit Suisse, must decide between Ants more enormous offer and Citadels cheaper offer, which has a better chance of receiving government clearance. Ant Group wants to become a fully regulated financial holding company by Chinese regulatory guidelines. Regarding the situation, UBS and Citadel have not responded. The auction occurs in the context of continuing restructuring at UBS following its merger with Credit Suisse and difficulties in Chinas Ashare market. Read More..

B2B Tech News | 1 months ago        

Broadcom Nears $3.8 Billion Deal to Sell EUC Business to KKR

According to people familiar with the situation, chipmaker Broadcom is nearing completion of a $3.8 billion agreement to sell its enduser computing EU

According to people familiar with the situation, chipmaker Broadcom is nearing completion of a $3.8 billion agreement to sell its enduser computing EUC division to private equity company KKR. Hock Tan, the CEO of Broadcom, wants to reduce the companys portfolio after acquiring VMware. In the EUC unit auction, KKR prevailed over rival companies such as EQT. The agreement, anticipated to be revealed soon, expands on KKRs earlier acquisitions of BMC and Ensono and signifies its ongoing presence in the IT industry. UBS Group, Jefferies, and KKRs capital market business provide debt financing, while Citigroup assists Broadcom. Evercore, Deutsche Bank, and Jefferies advise KKR. On the possible acquisition, Broadcom and KKR both declined to comment. Read More..

B2B Tech News | 1 months ago        

G20 Foreign Ministers Convene in Rio de Janeiro, Led by Brazil

The G20s foreign ministers met in Rio de Janeiro, under the direction of Brazil, to discuss issues such as rising international tensions, the climate

The G20s foreign ministers met in Rio de Janeiro, under the direction of Brazil, to discuss issues such as rising international tensions, the climate problem, and poverty. Priorities, including increasing the presence of poor countries in organisations that oversee global governance, were emphasised by Brazils president. The fight against hunger, poverty, and inequality, as well as sustainable development and governance reform, were prioritised by Foreign Minister Mauro Vieira. The large amount of money spent on the military worldwide has drawn criticism since it may be better used for assistance and development initiatives. Amid more than 170 active conflicts globally and escalating geopolitical tensions, the goal of the gathering is to establish a schedule for the next Rio Summit. In Brasilia, Brazilian President Lula also met with US Secretary of State Blinken to talk about issues relating to global governance. Read More..

B2B Tech News | 1 months ago        

Alcoa Proposes $2.2 Billion AllStock Acquisition of Alumina

The American aluminium behemoth Alcoa has put out a $2.2 billion allstock takeover offer for its Australian joint venture, Alumina, to streamline oper

The American aluminium behemoth Alcoa has put out a $2.2 billion allstock takeover offer for its Australian joint venture, Alumina, to streamline operations and increase upstream visibility. The main asset of Alumina is its 40% share in the joint venture Alcoa World Alumina and Chemicals, which has interests in the mining of bauxite, the refining of Alumina, and the smelting of aluminium in several nations. The purchase is anticipated to leverage debtrelated tax advantages and remove Aluminas yearly overhead expenditures. William Oplinger, CEO of Alcoa, emphasised the potential for expansion of the worldwide presence. Alcoa shares would be awarded to Alumina stockholders, giving them a 31% ownership position in the combined company. The Alumina board supports the agreement, but it is still being determined whether it will become legally enforceable. The alumina sector faces challenging market circumstances at the time of Alcoas proposal. Read More..

B2B Tech News | 1 months ago        

Zambia Struggles with $7 Billion Debt Burden Despite Previous Deals

Despite an earlier agreement with bilateral lenders handling over $6 billion in debt, Zambia still needs to pay down about $7 billion. The nations sea

Despite an earlier agreement with bilateral lenders handling over $6 billion in debt, Zambia still needs to pay down about $7 billion. The nations search for relief is made more difficult by the outstanding debt that commercial banks and bondholders owe. Despite Zambias best efforts, official creditors, led by France, China, and South Africa, rejected a plan to restructure $3 billion in debt with bondholders last October. This disparity highlights how difficult it will be for Zambia to escape its financial predicament. China has maintained its position as Africas top commercial partner for the past 15 years, with trade expected to reach $282 billion in 2023. Exhibitions such as the Made in Africa expo highlight how African nations, like Cameroon, prioritize industrialization initiatives to lessen their dependency on selling raw materials. Read More..

B2B Tech News | 2 months 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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