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Reliance Industries and Walt Disney Announce Merger of TV and Streaming Assets in India

Reliance Industries of India and Walt Disney announced the combination of their streaming and TV media businesses, creating a $8.5 billion entertainme

Reliance Industries of India and Walt Disney announced the combination of their streaming and TV media businesses, creating a $8.5 billion entertainment behemoth in the country of a billion people. Disney holds the remaining shares in the combined company, with Reliance contributing $1.4 billion and controlling over 63%. This action tackles Disneys difficulties in the Indian streaming market and the financial burden of paying cricket rights. The combined company will be impressive with two streaming services, 120 TV stations, and cricket rights. Disney gets financial security, and Reliance gains leverage in marketing negotiations. The transaction strengthens Reliances standing in Indias $28 billion media industry. Nita Ambani will chair the board, with Uday Shankar as vice chair. The merger aligns with Disneys commitment to India despite past challenges, including a noncash impairment charge due to subscriber losses. Read More..

B2B Tech News | 2 months ago        

Toyota Reports 7% Increase in Global Vehicle Production in January

Toyota Motor announced a 7% increase in worldwide car production in January, bringing the total to 740,332 units produced yearly for the 13th time. Th

Toyota Motor announced a 7% increase in worldwide car production in January, bringing the total to 740,332 units produced yearly for the 13th time. The spike was driven by strong U.S. demand, resulting in a 23% increase in U.S. sales and a 2% increase in European sales. On the other hand, domestic sales in Japan dropped sharply by 14%. Even though sales in China increased by 39%, the Chinese New Year calendar adjustments contributed to this, and the Chinese market became more competitive. Notably, gasolineelectric hybrids accounted for roughly twofifths of Toyotas January sales, demonstrating the automakers dedication to environmentally friendly car alternatives. Read More..

B2B Tech News | 2 months ago        

OCBC Expects Decline in 2024 Net Interest Margin Amidst Weakened Insurance Income

After reporting a 12% net profit jump in the fourth quarter, Singapores OverseaChinese Banking Corp OCBC predicts a reduction in 2024s Net Interest Ma

After reporting a 12% net profit jump in the fourth quarter, Singapores OverseaChinese Banking Corp OCBC predicts a reduction in 2024s Net Interest Margin NIM due to weaker insurance income. Concerns about a global downturn have CEO Helen Wong predicted a problematic 2024 and aimed for an NIM range of 2.20% to 2.25%, down from 2.28% in 2023. While low singledigit loan growth is anticipated, Return on Equity ROE is predicted to be between 13% and 14%. 20 to 25 basis points will be the expected cost of credit, up from 20 bps in 2023. Despite a jump in fourthquarter net profit to S$1.62 billion, OCBCs shares fell 2.5% following the earnings release. Read More..

B2B Tech News | 2 months ago        

Global Firms Expanding Presence in India, Setting Up More Offices and GCCs

At a Nasscom event, executives stressed that the increasing number of international businesses opening Global Competence Centres GCCs, or offices, in

At a Nasscom event, executives stressed that the increasing number of international businesses opening Global Competence Centres GCCs, or offices, in India did not indicate the demise of outsourcingdependent Indian IT enterprises. With 118 new GCCs in the last two years, for a total of over 1,620, prominent figures in the sector, like Ananth Chandramouli of Capgemini and Satish HC of Infosys, emphasised the potential for cooperation. Chandramouli observed that the GCCs were becoming revenue centres. At the same time, Satish HC emphasised Infosys flexible strategy regardless of the clients choice between expanding captives or entering into BOT agreements. Attendees such as Anuj Kadyan of McKinsey and Sindhu Gangadharan of SAP Labs India argued that both models could survive despite worries about the possible impact on income. They cited the large amount of tech investment that GCCs and IT players had access to. Read More..

B2B Tech News | 2 months ago        

Glean Raises $200 Million in Funding, Valuation Jumps to $2.2 Billion.

With the completion of its most recent investment round, Glean, an AIdriven firm that helps businesses with knowledge base searches, has raised its va

With the completion of its most recent investment round, Glean, an AIdriven firm that helps businesses with knowledge base searches, has raised its valuation to $2.2 billion. The investment, coled by Lightspeed Venture Partners and Kleiner Perkins, demonstrates the strong investor interest in AIpowered solutions. CEO Arvind Jain wants to grow the workforce to include 700 people this year. Glean, founded in 2019 by former Google search engineers, integrates databases and applications to provide search and knowledge management solutions for businesses. Glean creates individualised summaries and responses based on internal knowledge graphs by leveraging conversational AI assistants and big language models, such as OpenAIs GPT. Gleans expansion highlights its marketability with clients like Sony Electronics and Databricks and doubled yearly recurring income. Read More..

B2B Tech News | 2 months ago        

eBay Beats Market Expectations with Strong Quarterly Revenue and Profit

eBays quarterly sales and earnings are above market estimates, driven by strong Christmas season consumer spending and the companys dominance in essen

eBays quarterly sales and earnings are above market estimates, driven by strong Christmas season consumer spending and the companys dominance in essential areas such as auto parts and reconditioned items. Analyst projections for the companys $2.56 billion in revenue were surpassed. At the same time, its adjusted profit per share of $1.07 topped the predicted $1.03 per share. CEO Jamie Iannone pointed out areas for improvement in the UK and Germany despite this accomplishment, with the latter seeing negative growth in ecommerce. eBay has exceeded analyst expectations by predicting firstquarter sales in the $2.50 billion to $2.54 billion range and adjusted earnings per share between $1.19 and $1.23. In extended trading, the companys shares increased by almost 4%, indicating confidence among investors. Read More..

B2B Tech News | 2 months ago        

WTO Ministerial Conference Commences in Abu Dhabi Amid Global Instability

Amidst postpandemic global volatility, the World Trade Organisation WTO ministerial conference got underway in Abu Dhabi with a focus on pressing prob

Amidst postpandemic global volatility, the World Trade Organisation WTO ministerial conference got underway in Abu Dhabi with a focus on pressing problems, including reducing subsidies for fisheries and imposing digital taxes. Director Ngozi OkonjoIweala emphasised the difficulties ahead, pointing to global geopolitical pressures and conflicts, particularly those in Africa and the Middle East. WTO General Council Chairperson Athaliah Lesiba emphasised the urgency of taking joint action in the face of geopolitical tensions and economic uncertainty. Conflicts had an impact, aggravating global issues with increased costs and transportation delays. The outcome of the conference and the elections, which will take place in over 50 countries this year, will significantly impact the global economy and the WTOs trajectory. Thus, proactive and cooperative measures are required. In the UAE, the biannual conference ends on February 29. Read More..

B2B Tech News | 2 months ago        

U.S. Places Canadas Sandvine Inc on Trade Restriction List Over Alleged Human Rights Violations

The Canadian company Sandvine Inc. was added to the U.S. trade restriction list on Monday for allegedly helping the Egyptian government target politic

The Canadian company Sandvine Inc. was added to the U.S. trade restriction list on Monday for allegedly helping the Egyptian government target politicians and human rights activists. Restrictions prevent Sandvine, wellknown for its "deep packet inspection technology," from acquiring products and technology from American businesses. Furthermore, Chengdu Beizhan Electronics, a Chinese company connected to Chinas nuclear weapons programme, was listed for unlawfully purchasing goods of American provenance for the University of Electronic Science and Technology. The Department of Commerce pledges to stop American technology from facilitating destabilising actions. The export control list includes Sandvine, a company headquartered in Waterloo, Ontario, and its international operations. Requests for comment from Sandvine and the appropriate authorities were answered after some time. Read More..

B2B Tech News | 2 months ago        



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