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Nokia Announces Bold Job Cuts Amid 20% Sales Drop

The thirdquarter sales decline of Finnish telecom giant Nokia NOKIA.HE was mainly caused by lower demand for 5G equipment in the US. As a result, the

The thirdquarter sales decline of Finnish telecom giant Nokia NOKIA.HE was mainly caused by lower demand for 5G equipment in the US. As a result, the company announced a primary costcutting measure that might result in losing up to 14,000 jobs. Nokia wants to save between €800 million and €1.2 billion by 2026 to reach its longterm operating margin target of 14%. With this reorganisation, there will be 72,000–77,000 fewer workers than previously 86,000. Though it was anticipated that the fourth quarter would improve, Ericsson ERICb.ST, also confronting comparable difficulties, stated that uncertainty will continue to affect its operations beyond 2024. Read More..

B2B Tech News | 2 years ago        

Singapore Regulators Investigate Credit Suisse Wealth Monitoring

A local branch of Credit Suisse will be the subject of an onsite examination by the Monetary Authority of Singapore MAS to examine how it handles the

A local branch of Credit Suisse will be the subject of an onsite examination by the Monetary Authority of Singapore MAS to examine how it handles the surveillance of wealthy clients. This action comes after ten foreign nationals were detained in Singapore in a big money laundering case involving $2 billion worth of assets. In the upcoming weeks, MAS officials will analyse papers and interview bank employees from Credit Suisse and other institutions. An inquiry has been conducted to guarantee adequate compliance and adherence to regulations. MAS and Credit Suisse still need to provide comments on the subject. This demonstrates the increasing scrutiny of the banking industry. Read More..

B2B Tech News | 2 years ago        

Arkansas Orders Sale of ChineseOwned Farmland Over Security Concerns

Because Syngenta is a multinational seed company with Chinese ownership, Arkansas has ordered the company to sell 160 acres of American property withi

Because Syngenta is a multinational seed company with Chinese ownership, Arkansas has ordered the company to sell 160 acres of American property within the next two years. With this action, a new state rule that prohibits some foreign corporations from holding land has been enforced for the first time. China, subject to American arms export restrictions, is one of the forbidden nations. Syngenta expressed displeasure while reiterating its ongoing dedication to Arkansas and agricultural research for American farmers. As of the end of 2021, foreign entities owned an interest in 3.1% of privately held agricultural land in the United States, reflecting the increased scrutiny of foreign land ownership. Read More..

B2B Tech News | 2 years ago        

Microsoft Nets $1 Billion Deal with Amazon for Cloud Tools

According to Insider, Microsoft is about to close a significant agreement with Amazon for its over $1 billion cloud productivity products. Over five y

According to Insider, Microsoft is about to close a significant agreement with Amazon for its over $1 billion cloud productivity products. Over five years, Amazon will agree to pay this amount in exchange for more than one million Microsoft 365 licence seats. Following this report, the IT giants shares increased by about 1% in afterhours trade. Amazon intends to switch from its existing use of a local, onpremise version of Microsofts Office products to these new platforms in November. This event, which indicates a significant shift in cloud services and corporate collaboration, has yet to be mentioned by both corporations. Read More..

B2B Tech News | 2 years ago        

Johnson & Johnson Overhauls Orthopedics Unit After Q3 Sales Slump

Following the separation of its consumer health sector, Johnson & Johnson J&J has started a twoyear reorganisation exercise for its orthopaedics divis

Following the separation of its consumer health sector, Johnson & Johnson J&J has started a twoyear reorganisation exercise for its orthopaedics division due to weak Q3 medical device sales. The business will stop selling some orthopaedic items and withdraw from some markets. This change may put further pressure on J&Js pharmaceutical division to meet its $57 billion medicine sales target by 2025 if biosimilar versions of the companys very successful psoriasis treatment Stelara become available. The pharmaceutical industry reported solid sales despite the struggling medical device section, and J&J increased its annual profit prediction. However, Stelara sales in Europe could fall after a crucial patent expires. Read More..

B2B Tech News | 2 years ago        

Global Smartphone Market Contracts 8% in Q3, Top Brands Hit Hard

According to statistics from Counterpoint Research, the worldwide smartphone market shrank by 8% in Q3, reaching its lowest level in a decade. This de

According to statistics from Counterpoint Research, the worldwide smartphone market shrank by 8% in Q3, reaching its lowest level in a decade. This decline was primarily due to weak demand for popular brands like Apple and Samsung in developed economies. According to the survey, the top five brands market shares are dropping, which raises questions about how this will affect companies like Apple, whose shipments decreased by 8%. However, a glimmer of hope exists as industrywide shipments rose 2% from Q2 to suggest that a twoyear decline may end. Growth may be fueled by elements like Apples iPhone 15 series and regional holiday sales. In this challenging year, emerging markets have been a bright spot, with the Middle East and Africa exhibiting yearoveryear increases in Q3. Read More..

B2B Tech News | 2 years ago        

Chinese Investment Surges in Thailand, Boosting Economic Growth

Despite Chinas economic slowdown, Chinese investment in Thailand is increasing in 2023, giving Thailands new prime minister a big boost. Thailand rece

Despite Chinas economic slowdown, Chinese investment in Thailand is increasing in 2023, giving Thailands new prime minister a big boost. Thailand received requests for $10.1 billion in foreign investments between January and August, with Chinese companies receiving most of those requests $3.1 billion. The country has emerged as a desirable location for Chinese electric vehicle EV manufacturers, including Xiaomi, BYD, and Great Wall Motor, with at least $1.44 billion in investment commitments. Thailands central bank expects economic growth to reach 4.4% in 2024. In the upcoming years, the boom in Chinese investments will likely continue, supporting Thailands economy. Read More..

B2B Tech News | 2 years ago        

Bitcoin Soars to $29,900, Drops on BlackRock Denial

Bitcoin enjoyed a brief gain, reaching $29,900, but then dropped after BlackRock, a significant asset management, rejected rumours that a crypto inves

Bitcoin enjoyed a brief gain, reaching $29,900, but then dropped after BlackRock, a significant asset management, rejected rumours that a crypto investment product had received regulatory approval in the United States. The volatility of Bitcoin was evident as it ended the day at $28,211, up 3.82% but below its peak. When the SEC approved BlackRocks application for a bitcoin ETF, Coin Telegraph initially published the news before retracting it. BlackRock dispelled the rumour by confirming that the SEC was reviewing its application. Investors eagerly anticipated the approval of the spot bitcoin ETF, which is viewed as a potential catalyst for the industry, demonstrating the cryptocurrency markets sensitivity to good news. 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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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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5.  Approximately 8 billion gadgets connect on the internet every day.
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