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BUSINESS NEWS

EU Antitrust Concerns Amazon Faces Scrutiny Over $1.4 Billion iRobot Deal

Concerned that Amazons $1.4 billion acquisition of robot vacuum manufacturer iRobot may result in competing robot cleaners being excluded from Amazons

Concerned that Amazons $1.4 billion acquisition of robot vacuum manufacturer iRobot may result in competing robot cleaners being excluded from Amazons online marketplace, EU antitrust officials have voiced their worries. The European Commission expressed its concerns about the possible effects on competition in the robot vacuum cleaner market in France, Germany, Italy, and Spain in a statement of objections that it addressed to Amazon. In response, Amazon stated that it is collaborating with the Commission to resolve its issues. The Commission has until February 14 to make a ruling on the subject. Read More..

B2B Tech News | 3 months ago        

Major Boost Foxconn to Invest $1.5 Billion in India for Expansion

The largest electronics contract manufacturer in the world, Foxconn of Taiwan, plans to invest $1.5 billion in India as part of its continuous growth

The largest electronics contract manufacturer in the world, Foxconn of Taiwan, plans to invest $1.5 billion in India as part of its continuous growth strategy. Foxconn has been stepping up its operations in India, concentrating on setting up manufacturing plants in the nations southern region. The contract manufacturer wants to quadruple its employment and investment in India by the following year. While expressing excitement about Indias prospects in August, Foxconn Chairman Liu Youngway said, "Several billion dollars in investment is only a beginning." Read More..

B2B Tech News | 3 months ago        

Layer 2 Cryptocurrencies Stage Comeback with $14.3 Billion Market Cap Surge

After a year of relative quiet, "layer 2" cryptocurrencies—related to projects developed on top of "layer 1" blockchains like Bitcoin and Ethereumâ€

After a year of relative quiet, "layer 2" cryptocurrencies—related to projects developed on top of "layer 1" blockchains like Bitcoin and Ethereum—have rebounded. Layer 2 tokens, intended to speed up transactions and save costs, have a combined market valuation of around $14.3 billion, making up roughly 10% of the whole cryptocurrency market. The most significant layer two tokens, Matic, is worth $6.90 billion on the market and has increased 20% to $0.74 in the last 30 days. Nevertheless, the market has many initiatives, and layer two tokens may be highly volatile and unpredictable. Read More..

B2B Tech News | 3 months ago        

Australia Proposes Legislation for Monetary Policy Board, Enhancing RBA Independence

A specialised monetary policy board would be established by legislation that the Australian government intends to enact, and it would be in charge of

A specialised monetary policy board would be established by legislation that the Australian government intends to enact, and it would be in charge of determining interest rates at the Reserve Bank of Australia RBA. Intending to strengthen the RBAs independence and streamline its operations, this action complies with the recommendations of a review published in April. Six external members with backgrounds in macroeconomics, finance, labour markets, and the supply side of the economy will make up the proposed Monetary Policy Board MPB. The act eliminates the treasurers authority to override decisions on monetary policy to strengthen the RBAs independence. On July 1, 2024, the adjustments are anticipated to go into effect. Read More..

B2B Tech News | 3 months ago        

ARK Investment and 21Shares Propose 0.80% Fee for ARK 21Shares Bitcoin ETF

If authorities permit ARK Investment Management, run by Cathie Wood, and 21Shares, a Swiss cryptocurrency manager, to launch their planned exchangetra

If authorities permit ARK Investment Management, run by Cathie Wood, and 21Shares, a Swiss cryptocurrency manager, to launch their planned exchangetraded fund ETF for Bitcoin, they want to charge a 0.80% fee. Since 2021, the U.S. Securities and Exchange Commission SEC has denied many proposals for spot bitcoin ETFs due to concerns over potential market manipulation. Expectations, though, have increased that authorities may reconsider. According to recent remarks made by SEC Chair Gary Gensler, the agency is considering about ten spot bitcoin ETF ideas. A final SEC decision on the ARK 21Shares ETF is expected on or before January 10, 2024. In the market, it would encounter competition if approved. Read More..

B2B Tech News | 3 months ago        

Tata Technologies IPO Emerges as Weeks Most Oversubscribed Domestic Offering

The most oversubscribed domestic initial public offering IPO of the week is Tata Technologies IPO in India, priced at 30.43 billion rupees $366 millio

The most oversubscribed domestic initial public offering IPO of the week is Tata Technologies IPO in India, priced at 30.43 billion rupees $366 million. By the end of subscriptions, investors had bid for about 3.13 billion shares valued at 1.56 trillion rupees $18.74 billion, an oversubscription of almost 69.43 times the amount on offer. The high demand indicates investors are interested in the Tata Groups first public offering in over 20 years. Automotive, aerospace, and heavy machinery sectors are just a few of the industries Tata Technologies serves with engineering and technology services. The first day of trading for the business is set for November 30. Read More..

B2B Tech News | 3 months ago        

Huawei to Shift Smart Car Unit to Joint Venture with Changan Auto

Core technology and resources from Huaweis smart car division will be transferred to a new joint venture that the manufacturer Changan Auto may own up

Core technology and resources from Huaweis smart car division will be transferred to a new joint venture that the manufacturer Changan Auto may own up to 40% of. Research and development, manufacturing, sales, and servicing of intelligent automotive systems and component solutions will fall under the purview of the new company. Huawei and Changan Auto will haggle over the capital contribution and equity ratio. With an emphasis on smart car solutions, Huawei, a significant participant in the digital sector, has partnered with many manufacturers, including Changan and Series Group. This action is a component of Huaweis automotive strategy. Read More..

B2B Tech News | 3 months ago        

Shift Needed IEA Pushes Oil Industry to Invest More in Clean Energy

The head of the International Energy Agency urged the oil and gas industry to prioritize clean energy over carbon capture tech as a climate solution.

The head of the International Energy Agency urged the oil and gas industry to prioritize clean energy over carbon capture tech as a climate solution. IEAs Fatih Birol stated ahead of a climate conference that the industry must embrace a transition to netzero emissions by 2050, emphasizing the need for significant clean energy investments. Birol highlighted that just 1% of global clean energy investment comes from oil and gas firms and stressed the necessity of redirecting capital towards clean energy projects. Achieving climate goals would require a major shift in investment, with the industry needing to allocate 50% of capital spending to clean energy by 2030, much higher than the current 2.5%. Read More..

B2B Tech News | 3 months ago        



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