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Lucid Group Slashes Prices of Air Luxury Sedans in Bid to Boost Demand

Lucid Group is trying to stimulate demand in the face of a slowing market for electric cars by lowering the price of its Air luxury sedans by 1% to 10

Lucid Group is trying to stimulate demand in the face of a slowing market for electric cars by lowering the price of its Air luxury sedans by 1% to 10%. The cars are intended to be more competitively priced, with the Air Pure rearwheel drive starting at $69,900 and the Air Grand Touring at $109,900. The action was taken in response to a slowdown in demand for EVs, which forced manufacturers to modify their production and pricing schedules. Along with these benefits, Lucid announced that every Lucid Air purchase or lease will come with a $1,000 allowance for specific charging accessories and free regular maintenance for two years. Even with these initiatives, a slower growth rate for the worldwide EV market is anticipated in 2024 due to reduced governmental subsidies. Read More..

B2B Tech News | 2 months ago        

BRICS Countries Expected to Drive Global Wealth Growth Over Next Decade

Over the next ten years, the number of millionaires in the BRICS countries is expected to rise significantly, with their $45 trillion in investable we

Over the next ten years, the number of millionaires in the BRICS countries is expected to rise significantly, with their $45 trillion in investable wealthgenerating the most significant wealth increase globally. The BRICS group is expected to have 85% more millionaires over the next ten years, according to a survey by Henley & Partners and New World Wealth. This rise is more than that of the advanced nations of the Group of Seven G7, where a 45% increase in millionaires is predicted. With an estimated 110% increase in wealth per person by 2033, India is the leader in this wealth boom, followed by Saudi Arabia, the United Arab Emirates, China, and Ethiopia. Despite this general expansion, a few BRICS nations, including Iran and South Africa, have declined their millionaire populations since 2013. Read More..

B2B Tech News | 2 months ago        

Mining Indaba Highlights Urgent Need for Local Banks to Finance African Projects

The Mining Indaba this year made clear how important it is for regional banks to back more mining projects in Africa, especially those that foreign le

The Mining Indaba this year made clear how important it is for regional banks to back more mining projects in Africa, especially those that foreign lenders deem riskier. In 2022, Africa spent less than 10 per cent of the worldwide average on mining exploration, although possessing 30 per cent of the worlds mineral reserves. This was mainly because of challenges in obtaining money from outside sources. Local financial institutions are encouraged to fill this need as interest in African mining grows. The secondlargest bank in the Democratic Republic of the Congo, EquityBCDC, spoke with Celestin Mukeba Muntuabu, Managing Director, about his banks plans for African mining. Meanwhile, highinterest rates are anticipated to continue in 2024, burdening African borrowers even more—who spend a substantial amount of their export revenues on external debt repayment. Additionally, Tanzania faces a sugar shortage, prompting regulators to approve imports and plans to boost local production. Read More..

B2B Tech News | 2 months ago        

Digital Realty Trust Forecasts Lower Revenue for Fiscal 2024, Shares Decline

Given the uncertain economic climate, Digital Realty Trust DLR.N expects its fiscal 2024 revenue to fall short of market projections. This is because

Given the uncertain economic climate, Digital Realty Trust DLR.N expects its fiscal 2024 revenue to fall short of market projections. This is because it is spending less on data centres. In the extended trading session that followed the news, the companys shares fell 4%. Due to high financing costs, businesses favour larger data centre operators like Equinix EQIX.O, affecting demand for smaller competitors like Digital Realty. Known for renting out managed data centres for various industries, Digital Realty and Blackstone BX.N partnered to create data centres for $7 billion last year. Despite missing projections with its fourthquarter sales of $1.37 billion, Digital Realty is nevertheless upbeat about its funds from operations, which rose to $1.53 per share from $1.45 per share in the previous year. Read More..

B2B Tech News | 2 months ago        

DoorDash Reports Widening Loss in Q4 2023 Despite Surge in Delivery Orders

Despite a spike in delivery orders, DoorDashs most recent financial report showed a largerthanexpected deficit for the fourth quarter of 2023, ascribe

Despite a spike in delivery orders, DoorDashs most recent financial report showed a largerthanexpected deficit for the fourth quarter of 2023, ascribed to higher labour expenses. A 9.3% increase in total costs impacted the companys profitability. DoorDash expects to absorb early expenses and reduce them over time. Still, in response to new rules, it has increased the minimum wage for delivery workers. Despite significant marketing expenditures and service diversification efforts, such as grocery and alcohol delivery, DoorDashs estimated quarterly profitability indicator failed to meet analyst projections. The corporation launched a $1.1 billion share repurchase programme to fight Ubers rivalry. Looking ahead, DoorDash hopes to increase Gross Order Value GOV in 2024 from $66.8 billion in 2023 to $74 billion to $78 billion. Read More..

B2B Tech News | 2 months ago        

JPMorgan Chase and Co JPM.N Faces $350 Million in Civil Penalties for Trading Data Reporting Failures

In a regulatory filing, JPMorgan Chase & Co. JPM.N revealed that it would reimburse authorities for civil fines amounting to about $350 million, for w

In a regulatory filing, JPMorgan Chase & Co. JPM.N revealed that it would reimburse authorities for civil fines amounting to about $350 million, for which it failed to notify surveillance platforms of incomplete trade data. Most of the missing data was related to specific order and trading data from its Corporate and Investment Bank division that needed to be included in its trade monitoring systems. Even though the gaps found only made up a small portion of the total activity, it was noteworthy that one venue—sponsored client access activity—was left out. JPMorgan made it clear that there was no proof of employee wrongdoing or damage to customers or the market. While talks with a third regulator are still underway, the fines are anticipated to settle the issue with two US agencies. Read More..

B2B Tech News | 2 months ago        

Westpac Banking Corp Forecasts Potential Monetary Policy Easing in Australia

Westpac Banking Corp WBC.AX believes that monetary policy in Australia may be eased in the coming year as the countrys economy continues to grow despi

Westpac Banking Corp WBC.AX believes that monetary policy in Australia may be eased in the coming year as the countrys economy continues to grow despite the central banks attempts to control inflation. CEO Peter King stated that a less stringent monetary policy may be possible due to the slowing economy and declining inflationary pressures. The bank reported an unaudited net profit for the first quarter of A$1.5 billion $978.60 million, 6% less than the quarterly average for the previous six months. The bank attributed the reduction to noteworthy items associated with hedge accounting. As demonstrated by its standard equity tier 1 ratio, which stood at 12.3% at Decembers end, Westpac is committed to controlling credit quality and keeping a sound balance sheet despite obstacles, including exposure to the real estate market and growing interest rates. Read More..

B2B Tech News | 2 months ago        

Seven Group Holdings Offers A$1.9 Billion to Acquire Rest of Boral

The building materials group producer Boral BLD.AX has seen a bid of A$1.9 billion $1.24 billion from Australian diversified investor Seven Group Hold

The building materials group producer Boral BLD.AX has seen a bid of A$1.9 billion $1.24 billion from Australian diversified investor Seven Group Holdings SVW.AX, which currently controls approximately 72% of the company. The offer, which includes A$1.50 in cash and 0.1116 Seven Group shares, represents a minimum of A$6.05 per Boral share. It was made public on Monday. With this proposal, Boral is valued at A$6.67 billion $4.35 billion, 3.4% more than its most recent closing price. With Boral restructuring its companies to take advantage of rising government infrastructure programmes, Seven Groups action demonstrates confidence in Australias infrastructure investment boom. Following the announcement, shares of Boral increased 3.7%, while shares of Seven Group decreased 1%. 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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