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Xpeng Surges on Robust Revenue from Volkswagen Partnership, SelfDriving Tech Progress

Propelled by solid revenue growth from research and development services offered to Volkswagen and hopeful statements on its selfdriving technology br

Propelled by solid revenue growth from research and development services offered to Volkswagen and hopeful statements on its selfdriving technology breakthrough, shares of Chinese electric car maker Xpeng soared on Wednesday. In the first quarter, Xpengs income from services almost quadrupled to 1 billion yuan $138 million, primarily due to the companys extended relationship with Volkswagen to develop electric vehicle design. With the increase in service revenue, Xpengs gross margin increased to 12.9%, which was a notable gain over the prior year. Xpeng, showcasing its expertise in intelligent electric vehicles, plans to attain "level four" autonomous driving competence by the end of the following year. Still, it recognises that hardware improvements and regulatory compliance are necessary. The good news continued to pour in as the companys shares shot up 13% in afternoon trade. Read More..

B2B Tech News | 2 months ago        

G7 Finance Chiefs Eye Russian Assets to Aid Ukraine, Tackle Chinas Export Dominance

Chinas increasing export dominance and use of blocked Russian assets to support Ukraines war effort are the main concerns at Italys G7 finance chiefs

Chinas increasing export dominance and use of blocked Russian assets to support Ukraines war effort are the main concerns at Italys G7 finance chiefs meeting. Discussions centre on unblocking around $300 billion in Russian assets, with the United States suggesting a loan to Ukraine secured by the future earnings from these holdings. Though specific agreements are doubtful, talks will develop a plan to be presented to the G7 chiefs of state in June. Difficulties arise from administrative technicalities and legal complications. On the agenda are trade tensions with China, which have been made worse by recent tariff rises by the United States. The economic impact of AI, international taxes, sanctions against Russia, and a planned wealth tax on billionaires that would face opposition from the US are among other subjects. Read More..

B2B Tech News | 2 months ago        

Eskom Delays Closure of Coal Plants Amid South Africas Energy Crisis

The national electricity company in South Africa, Eskom, has delayed closing several coalfired power stations until 2030. These plants include Camden,

The national electricity company in South Africa, Eskom, has delayed closing several coalfired power stations until 2030. These plants include Camden, Krootflei, and Hendrina. This decision comes during the nations acute electrical crisis, which resulted in daily power outages of up to almost 10 hours last year, severely damaging the economy. Initially, the individual was scheduled to retire between 2023 and 2027. With the debate surrounding the planned Just Energy Transition Partnership JetP finance model, South Africas energy transition strategy has come under examination. Furthermore, there has been opposition to the Komati power plants retirement in Mpumalanga in October 2022 since plans are in place to convert it into a wind and solar power facility. Read More..

B2B Tech News | 2 months ago        

ThinKuvate Launches Rs 100 Crore Fund for Indian Tech Startups

With a corpus of Rs 100 crore, ThinKuvate India Fund I, the first Indiafocused fund from Singaporebased angel investing network ThinKuvate, is set to

With a corpus of Rs 100 crore, ThinKuvate India Fund I, the first Indiafocused fund from Singaporebased angel investing network ThinKuvate, is set to start. The fund, which targets innovative firms in various areas, seeks to invest up to Rs 3 crore in each business for 12–15 investments every year. Investor roadshows will begin in Nagpur, Raipur, Bangalore, and Chennai to reach burgeoning startup hotspots. After obtaining Sebis permission, ThinKuvate anticipates closing its first deal this quarter. The fund, run by Nagpur University alums, is well known for its excellent transaction finding and mentoring. With past exits and followon rounds, ThinKuvate hopes to use its worldwide VC standards and vast expertise to support the growth of Indian entrepreneurs. Read More..

B2B Tech News | 2 months ago        

Robinhood Cuts Margin Loan Rates to Drive Retail Investor Participation

Robinhood is lowering the interest rates on its margin loans to encourage more consumers to use this borrowing option against their stocks. This actio

Robinhood is lowering the interest rates on its margin loans to encourage more consumers to use this borrowing option against their stocks. This action is consistent with the businesss overarching plan to develop into a fullservice brokerage platform that meets the demands of individual investors. Robinhood wants to attract investors who have participated in social media campaigns opposing Wall Street by lowering interest rates. With prices that have been reduced and now range from 5.70% to 6.75%, margin loans are now more affordable and accessible than they were with other brokers, such as Charles Schwab. To increase consumer interaction and broaden its range of products, Robinhood also keeps adding new services like credit cards and retirement accounts. Read More..

B2B Tech News | 2 months ago        

Palo Alto Networks FourthQuarter Billings Forecast Disappoints, Reflecting Cautious Cybersecurity Spending

Investors were disappointed by Palo Alto Networks fourthquarter billings projection, which indicated cautious corporate spending on cybersecurity solu

Investors were disappointed by Palo Alto Networks fourthquarter billings projection, which indicated cautious corporate spending on cybersecurity solutions in the face of inflation and economic uncertainty. Concerns of a slowdown in cybersecurity growth emerged as companies continue to be cautious and spread their expenditures across several providers in an effort to reduce risks. Though it came in within experts expectations, the companys predicted fourthquarter billings sparked doubts about momentum. Even with small adjustments to its yearly billings estimate, the prognosis did not show a discernible acceleration of momentum. Additionally, rival Fortinet predicted secondquarter billings that were lower than expected. Palo Altos thirdquarter billings were somewhat below projections, but sales increased by almost 15% to $1.98 billion, above forecasts. The firm exceeded projections with an adjusted profit per share of $1.32. Read More..

B2B Tech News | 2 months ago        

Zoom Raises Profit and Revenue Forecast Amid Strong Demand for Hybrid Work Solutions

In light of the continuous transition to hybrid work and the high demand for its products, Zoom Video Communications increased its yearly profit and s

In light of the continuous transition to hybrid work and the high demand for its products, Zoom Video Communications increased its yearly profit and sales prediction. The companys optimistic view may be attributed to its attempts to incorporate artificial intelligence AI and broaden its service offerings, such as the launch of the AIpowered collaboration platform Zoom Workplace. During the pandemic, Zooms use, as well as that of Microsoft Teams and Cisco Webex, increased. Zooms CEO, Eric Yuan, emphasised how AI is integrated throughout the Zoom platform, particularly in Zoom Contact Centre and Zoom Workplace. Zooms revised fullyear earnings per share range from $4.99 to $5.02, with sales expected to reach between $4.61 billion and $4.62 billion in 2025. Zoom announced $1.14 billion in sales for the first quarter, above analysts projections, and quarterly adjusted profits Read More..

B2B Tech News | 2 months ago        

UK Payment Regulator Raises Alarms Over Visa and Mastercard Fee Hikes

Concerned about Visa and Mastercard price rises, the Payment Systems Regulator PSR noted that while fees have increased significantly over the last fi

Concerned about Visa and Mastercard price rises, the Payment Systems Regulator PSR noted that while fees have increased significantly over the last five years, there has yet to be any sign of a commensurate improvement in services. The PSRs initial assessment highlighted the restricted options available to retailers since both corporations control 95 per cent of transactions using UKissued cards. It projected that these price increases had increased UK businesses costs by over £250 million. Visa did not immediately reply, while Mastercard disagreed with the conclusions, citing industry rivalry. The PSR suggested solutions, such as increased reporting requirements and openness. A final report is expected by years end, and public comments are welcome through July 30. Read More..

B2B Tech News | 2 months ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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