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Superdry Shares Surge 18% with Reliance Retails Asian Acquisition

The licences and brand assets of the UKbased Superdry in three Asian countries will be purchased by Reliance Retail, the biggest retailer in India, fo

The licences and brand assets of the UKbased Superdry in three Asian countries will be purchased by Reliance Retail, the biggest retailer in India, for £40 million $48 million. Following the announcement, which revealed plans to use the £28.3 million net proceeds to bolster liquidity and fund its turnaround strategy, Superdrys shares increased by 18%. This agreement spans Sri Lanka, Bangladesh, and India through a joint venture and incorporates Superdrys investments. Mukesh Ambani is the CEO of Reliance Retail, which has more than 18,000 locations and collaborates with several international companies. Firm orders have been a problem for Superdry, but this agreement will help it concentrate on its core markets. Read More..

B2B Tech News | 2 years ago        

UK Startup Revolutionizes Car Sales with Online Marketplace

An online marketplace approach similar to eBay has been implemented by UK company Motorway, allowing users to sell used vehicles to dealers directly.

An online marketplace approach similar to eBay has been implemented by UK company Motorway, allowing users to sell used vehicles to dealers directly. The programme, which was established in 2017, enables auto sellers to upload images for dealers to bid on in daily auctions. Motorway doesnt own any automobiles, in contrast to rivals like Carvana or Cazoo. As the physical auctions ended, the pandemic expanded more quickly. To double its auctions to £1.7 billion $2.06 billion in 2022, it sells up to 1,500 old automobiles daily. Motorway charges sellers a fee and has received more than $250 million from investors. It has intentions to grow abroad and perhaps go public. Read More..

B2B Tech News | 2 years ago        

YCombinatorBacked Rider Eyes Acquisition of Pakistans BlueEx

The only publicly traded Express Courier Logistics Company in Pakistan, BlueEx, is being considered for acquisition by Pakistani ecommerce logistics c

The only publicly traded Express Courier Logistics Company in Pakistan, BlueEx, is being considered for acquisition by Pakistani ecommerce logistics company Rider, which has YCombinators support. Due to difficulties finding investment globally and other economic and political problems, venture funding in Pakistan has substantially decreased, falling to $6.8 million in the third quarter of 2023, a decline of 87.7% YoY. Salman Allana, the CEO of Rider, made it clear that they are only purchasing BlueExs ecommerce logistics division and not the complete Universal Network System Limited. If successful, this move would be the first time a startup has acquired a publicly traded company and the first significant acquisition on Pakistans Growth Enterprise Market GEM board. Read More..

B2B Tech News | 2 years ago        

Japanese Yens Rollercoaster Ride Sparks Government Speculation

Recent fluctuations in the value of the Japanese yen have led to talk of possible government action. In American trading, it briefly exceeded 150 yen

Recent fluctuations in the value of the Japanese yen have led to talk of possible government action. In American trading, it briefly exceeded 150 yen to the dollar before quickly changing direction and strengthening to 147.30. Japanese officials have verified no intervention, and neither Tokyos chief currency diplomat nor finance minister have made any direct statements. Tokyo intervened to purchase yen in September and October last year, causing the yen to drop to a 32year low of 151.94 yen per dollar. The yield on 10year Treasury bonds and Japanese government bonds are affected as investors respond to increased interest rates due to the ongoing global bond selloff. Due to these factors, a riskaverse European session is anticipated, with weaker futures. Republican lawmakers in the United States dismissed Speaker Kevin McCarthy. Read More..

B2B Tech News | 2 years ago        

Ethiopia and EU Seal Historic 650 Million Euro Deal for Reconciliation

Following the ceasefire that ended a conflict in November, Ethiopia and the European Union have taken a big step towards normalising relations by sign

Following the ceasefire that ended a conflict in November, Ethiopia and the European Union have taken a big step towards normalising relations by signing a cooperation agreement worth 650 million euros $680 million. Due to unrest in the Tigray region in 2020, the EU aid package, initially valued at 1 billion euros and slated for Ethiopia from 2021 to 2027, was temporarily suspended. Although this deal supports Ethiopias postwar reconstruction and economic reforms, direct budgetary assistance to the government still needs to be prohibited, pending the fulfilment of specific political requirements. The UNs probe into Ethiopias violations of human rights has the support of the EU as well. Read More..

B2B Tech News | 2 years ago        

Strong Dollar & Rising Yields Weigh on Euros Stability

The euro faces stronger headwinds as rising oil costs and Italys budgetary woes put their value at risk, possibly pushing it near the crucial $1 level

The euro faces stronger headwinds as rising oil costs and Italys budgetary woes put their value at risk, possibly pushing it near the crucial $1 level. The euro is headed for a third straight year of losses after dropping 3% against the dollar in the third quarter. While a strong dollar and rising U.S. Treasury yields have contributed, regional variables like susceptibility to high oil costs and geopolitical risks also impact the euros stability. Analysts predict that the euro may find avoiding parity with the dollar challenging if oil prices rise beyond $100 per barrel. Some predictions state that by years end, the euro would decline to $1.02 or $1.03. Exporters benefit from a weaker euro. However, the ECB may need attention because higher import costs lead to more significant inflation. Read More..

B2B Tech News | 2 years ago        

UBS Offers Attractive Rates to Win Back Customers from Credit Suisse

After purchasing Credit Suisse, UBS is enticing consumers with abovemarket deposit rates. At Credit Suisse, which is now a subsidiary of UBS, customer

After purchasing Credit Suisse, UBS is enticing consumers with abovemarket deposit rates. At Credit Suisse, which is now a subsidiary of UBS, customers who deposit more than 50,000 Swiss francs for three months get about 1.8% interest. Zuercher Kantonalbank and Raiffeisen provide 1.34% and 1.2% for comparable deposits, respectively. Following Credit Suisses impending collapse, UBS is adopting this tactic to win back client money and client confidence in Switzerland. Higher deposit rates, according to JPMorgan analyst Kian Abouhossein, could reduce Credit Suisses outflows but could also have an impact on revenue. UBS wants to recoup some assets worth close to $500 billion that Credit Suisse lost in the previous two years. Read More..

B2B Tech News | 2 years ago        

Australias resource and energy exports brace for dip amid softening global demand

Australias export earnings in the resources and energy sector are anticipated to decline over the next two years due to reduced global demand, primari

Australias export earnings in the resources and energy sector are anticipated to decline over the next two years due to reduced global demand, primarily from China, its major trading partner. It is projected that commodity export earnings will decrease from the record A$467 billion in the previous year to A$400 billion in 2023/24 and further to A$352 billion by 2024/25. Factors contributing to this decline include the global economic slowdown, especially in China, as it recovers slowly from COVID19related lockdowns, as well as more favorable supply conditions leading to lower commodity prices. Despite this, these exports remain crucial to Australias economy. Read More..

B2B Tech News | 2 years ago        



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