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EU Trade Agreement with Australia Hits a Roadblock

Free trade agreement offers from the European Union EU have been rejected by Australia, and an agreement is unlikely to be reached for several years.

Free trade agreement offers from the European Union EU have been rejected by Australia, and an agreement is unlikely to be reached for several years. Murray Watt, Australias minister for agriculture, claimed that the EU had only made minor changes to the proposal that it had presented three months prior and that Australia could not consider it to be in the best interests of the nation. This move was made in response to pressure from Australias farming associations on the government to avoid signing a "dud deal" that would have disadvantageous effects on Australian farmers in comparison to rivals in New Zealand, Canada, and South America, who have easier access to EU markets. Read More..

B2B Tech News | 2 years ago        

Panasonic Trims Battery Output as EV Sales Hit a Speed Bump

Due to a global slowdown in sales of electric vehicles EVs, Panasonic Holdings, a supplier to Tesla, reduced car battery output in Japan during the Se

Due to a global slowdown in sales of electric vehicles EVs, Panasonic Holdings, a supplier to Tesla, reduced car battery output in Japan during the September quarter. Additionally, the business cut its 15% annual profit projection for its battery division. Similar cautions regarding slower growth in significant markets like China and Europe have been made by several automakers and suppliers. Panasonic acknowledged the effect of the U.S. Inflation Reduction Act on consumer demand in addition to citing sluggish sales of highend EVs in North America as contributing factors. Panasonic maintains steady production in North America and strong sales of automobiles qualified for tax credits despite the difficulties in the battery industry. Read More..

B2B Tech News | 2 years ago        

Beijing Celebrates 10 Years of Belt and Road Initiative

World leaders convened in Beijing this week to commemorate the tenth anniversary of Chinas 2013 launch of the enormous infrastructural and economic de

World leaders convened in Beijing this week to commemorate the tenth anniversary of Chinas 2013 launch of the enormous infrastructural and economic development project known as the Belt and Road Initiative BRI. It was declared by President Xi Jinping that China would set aside more than $100 billion to finance infrastructure. Although there were rumours that the Belt and Road Initiative BRI was losing traction, analysts contend that China is revamping the programme. Because of President Hichilemas probusiness approach, Chinese investment in Zambia has increased, particularly in the mining, industrial, and agricultural sectors. In the meanwhile, despite sluggish economic growth, it is predicted that African fintech companies will grow dramatically, reaching $65 billion by 2030. Read More..

B2B Tech News | 2 years ago        

Bank of Ireland Hikes Mortgage Rates Amid ECB Moves

For the first time since the European Central Bank started hiking interest rates in July 2022, the Bank of Ireland is lifting its variable mortgage ra

For the first time since the European Central Bank started hiking interest rates in July 2022, the Bank of Ireland is lifting its variable mortgage rates by 0.25%. Approximately 30,000 persons, or 10% of Bank of Irelands mortgage customers, have variable rates. With this action, the Bank of Ireland hopes to offset some of the 4.5% interest rate rises that the European Central Bank has implemented thus far. With or without additional ECB rate hikes, rate comparison website and mortgage broker Bonkers. ie forecasts more rate increases from Irish lenders in the upcoming months, as Irish banks still need to pass on prior rate increases Read More..

B2B Tech News | 2 years ago        

Huaweis Honor Deal Pays Off with Profit Surge

For the first three quarters of 2023, Huawei Technologies recorded a 2.4% increase in revenue, which came to 456.6 billion yuan $62.4 billion. In spit

For the first three quarters of 2023, Huawei Technologies recorded a 2.4% increase in revenue, which came to 456.6 billion yuan $62.4 billion. In spite of this slight increase in revenue, the companys profits increased significantly by 177.8% to 73.05 billion yuan. Payments for the 2020 sale of Huaweis Honour smartphone division as well as advancements in management and sales tactics were cited as the reasons for the sharp increase in earnings. The launch of the Mate 60 series helped Huaweis smartphone sales increase during the third quarter. The companys cloud and digital power segments, along with its car parts division, all helped to boost sales. Read More..

B2B Tech News | 2 years ago        

GMUAW Talks Back in Action to End SixWeek Strike

The United Auto Workers UAW and General Motors GM have started talking again in an effort to resolve their sixweek strike and negotiate a labour contr

The United Auto Workers UAW and General Motors GM have started talking again in an effort to resolve their sixweek strike and negotiate a labour contract agreement. The talks started on Thursday and went into the wee hours of Friday before coming to an end. Resuming talks with Chryslers parent company Stellantis was planned for soon. In order to resolve strikes, Ford Motor and the UAW have came to an agreement that will set the precedent for future contracts with GM and Stellantis. Even though GM and Stellantis are allegedly in agreement on the financial terms, there is still disagreement on a few last points, such as using temporary labour. Ford reported that the strike had a financial impact on the company, costing them 80,000 vehicles and $1.3 billion in lost revenue. Read More..

B2B Tech News | 2 years ago        

IBM Shines in Q3 with Strong Revenue and Profit

IBM, a provider of IT software and consulting services, announced Q3 sales and earnings that surpassed Wall Street forecasts. IBM was able to maintain

IBM, a provider of IT software and consulting services, announced Q3 sales and earnings that surpassed Wall Street forecasts. IBM was able to maintain its market share in consulting engagements by focusing on market share and providing software solutions, even in the face of a difficult economic climate. Clients continued to cut back on discretionary initiatives. Significant AI sales and bookings were made by the company, including agreements with Ernst & Young and Truist Bank. IBM has observed a high level of interest in its consulting services and tools for integrating technology into business processes. It restated its goals for free cash flow and annual revenue growth. Software revenue, which includes Apptio, increased by over 8%. IBM surpassed projections in Q3 with revenue of $14.8 billion and adjusted profit per share of $2.20. Read More..

B2B Tech News | 2 years ago        

MercedesBenz Faces Tough Road in Electric Vehicle Market

MercedesBenz announced "brutal" pricing reductions in the electric vehicle EV market, and supply chain problems affected the companys Q3 results. Due

MercedesBenz announced "brutal" pricing reductions in the electric vehicle EV market, and supply chain problems affected the companys Q3 results. Due to competitive pricing in the EV market, the luxury automaker may reach the lower end of its projected 12–14% adjusted return on sales for the vehicles segment. Although the firm is dedicated to EV ambitions, if EV margins continue to be lower, it may have to rely more on the performance of its combustion engine portfolio. Even with some of the Q4 discounts, MercedesBenz continues to prioritise pricing strategy over volume in order to increase profitability. The market climate is characterised as "subdued," with supply chain costs and inflation having an impact. Read More..

B2B Tech News | 2 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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