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Super Micro Computer Inc SMCI.O Shares Plunge 20% After Record High

After hitting a record high earlier, Super Micro Computer Inc. SMCI.O shares sharply declined, plummeting 20% on Friday. The stock fell from a peak of

After hitting a record high earlier, Super Micro Computer Inc. SMCI.O shares sharply declined, plummeting 20% on Friday. The stock fell from a peak of $1,077.87 to $803.32 after the session, marking the worst oneday percentage decrease since August. Before this, the stock had increased for nine straight days. The fact that SMCI is still far higher than its closing price in 2023, despite this fall, suggests that it has made significant gains in the last year. The stock has received varying levels of analyst coverage. Wells Fargo began coverage with a $960 price target and an "equal weight" rating. At the same time, BofA Global Research offered the highest analyst rating of $1,040 with a buy target. Read More..

B2B Tech News | 2 months ago        

Nintendo Shares Fall 6% Amid Reports of NextGeneration Console Delay

After speculations surfaced suggesting that Nintendos nextgeneration system might not ship later this year but rather in early 2025, the companys stoc

After speculations surfaced suggesting that Nintendos nextgeneration system might not ship later this year but rather in early 2025, the companys stock saw a 6% fall. Although the Kyotobased gaming business has not made an official statement about its future hardware plans, it is widely assumed that it is getting ready to launch a replacement for its venerable Switch system. Despite this delay, Nintendo recently increased its fullyear sales projection for the Switch, highlighting its dedication to maintaining the momentum of its popular hybrid homeportable gadget. At an earnings briefing, Nintendo President Shuntaro Furukawa reiterated this pledge earlier this month. Read More..

B2B Tech News | 2 months ago        

Nigerias Naira Hits Record Lows Amidst Stock Market Decline

The Naira saw historic lows on Nigerias official and black markets on Monday, while the stock market saw its worst oneday drop in more than a year. Th

The Naira saw historic lows on Nigerias official and black markets on Monday, while the stock market saw its worst oneday drop in more than a year. The Naira dropped to 1,712 per dollar despite Central Bank Governor Olayemi Cardosos assertions of increased foreign currency availability. This decrease comes after a recent survey revealed that inflation, caused mainly by rising food costs, is nearly 30% yearly. The worsthit sectors on Nigerias AllShare Index were industrial, consumer goods, and financial shares, which fell 3.15 per cent. Cardoso increased open market rates to combat economic difficulties and draw investors to government notes in the face of rising inflation. Still, the fall of the Naira implies that more changes would be required. Read More..

B2B Tech News | 2 months ago        

ANZ Groups Acquisition of Suncorps Banking Business Cleared by Australian Competition Tribunal

The Australian Competition Tribunal has approved the A$4.9 billion $3.2 billion acquisition of Suncorps banking division by ANZ Group, enabling ANZ to

The Australian Competition Tribunal has approved the A$4.9 billion $3.2 billion acquisition of Suncorps banking division by ANZ Group, enabling ANZ to move forward with the deal. The tribunal reversed the Australian Competition and Consumer Commissions ACCC ruling, which concluded that the agreement would not materially lessen competition in Australias home loan sector. After the verdict, Suncorps price increased while ANZ shares initially decreased. Suncorps home state of Queensland and Australian Treasurer Jim Chalmers must yet approve the acquisition. The CEO of ANZ reaffirmed the companys commitment to closing the deal while highlighting additional requirements that must be satisfied. The CEO of Suncorp praised the choice and stated that after selling the bank, he will concentrate on insurance operations. Read More..

B2B Tech News | 2 months ago        

Germany Faces Potential Recession, Bundesbank Report Highlights Economic Challenges

According to the Bundesbanks most recent analysis, low foreign demand, cautious consumer behaviour, and low domestic investment because of high borrow

According to the Bundesbanks most recent analysis, low foreign demand, cautious consumer behaviour, and low domestic investment because of high borrowing rates are the leading causes of Germanys probable recession. Following Russias invasion of Ukraine in 2022, the economy has had difficulties that have resulted in higher energy bills and four quarters of growth that have been flat. Although some doubt the longterm viability of Germanys economic model, the government insists that the problems it is currently facing are transitory. The Bundesbank expects more weakening because of diminishing foreign industrial demand, lower investment, and sectorspecific strikes. It does not, however, anticipate a severe decline in the labour market or a protracted recession. Read More..

B2B Tech News | 2 months ago        

Threat of U.S. Sanctions Disrupts TurkishRussian Trade, Affecting Payments and Exports

According to those acquainted with the situation, the possibility of U.S. sanctions against financial institutions doing business with Russia has affe

According to those acquainted with the situation, the possibility of U.S. sanctions against financial institutions doing business with Russia has affected payments for both Turkish exports and imported oil, disrupting TurkishRussian commerce. The U.S. executive order from December complicated Turkish payments to Russia for oil and Russian payments to Turkey for diverse commodities, even though it did not specifically target the energy sector. As Turkish banks tighten compliance with Russian clients, certain payments are being delayed, resulting in these issues. The outages have not significantly impacted Turkeys supply of crude oil. The state of affairs highlights the delicate balancing act Ankara must do in managing relations between the West and Russia in the face of rising tensions. Read More..

B2B Tech News | 2 months ago        

Capital One to Acquire Discover Financial Services in $35.3 Billion AllStock Deal

With a $35.3 billion allstock deal, Capital One, backed by Warren Buffett, aims to purchase Discover Financial Services to build a massive worldwide p

With a $35.3 billion allstock deal, Capital One, backed by Warren Buffett, aims to purchase Discover Financial Services to build a massive worldwide payments company. With the purchase, which is anticipated to be subject to intense antitrust examination, the United States would have its sixthlargest bank by assets, making it a strong competitor in the credit card market, facing up against JPMorgan Chase and Citigroup. The merged business will be owned by Capital One stockholders to the tune of 60%, with Discovers shareholders receiving a premium of 26.6% over Fridays closing price. Pretax synergies of $2.7 billion are expected to be produced by the acquisition by 2027 due to cost reduction and network savings. But with more eyes on bank mergers, regulatory clearance is expected to be difficult, especially with the Biden administrations emphasis on fostering competition. Read More..

B2B Tech News | 2 months ago        

Google Commits €25 Million to AI Education Initiative in Europe

Google GOOGL.O has committed €25 million $26.98 million to advance AI education in Europe to mitigate any disparities that the advantages of AI may

Google GOOGL.O has committed €25 million $26.98 million to advance AI education in Europe to mitigate any disparities that the advantages of AI may worsen. The programme, unveiled on Monday, accepts proposals from NGOs and social entrepreneurs to help those potentially benefit from AI training. Google intends to hold "growth academies" in addition to financing to help businesses scale their operations using AI. The tech behemoth has added 18 additional languages to its free online AI training classes library. The Centre for Public Impacts Executive Director, Adrian Brown, emphasised that inclusion must be ensured to keep anybody from being excluded from AIs effects. 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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