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BUSINESS NEWS

Paytm Faces Allegations and Investor Withdrawal Following RBI Action

A Mumbai grocery shop switches to cash payments in response to the Reserve Bank of Indias order to cease operations of its banking division for regula

A Mumbai grocery shop switches to cash payments in response to the Reserve Bank of Indias order to cease operations of its banking division for regulatory noncompliance, raising doubts about the future of the widely used digital service Paytm. With 330 million customers, Paytm is accused of financial crimes, a claim it refutes. The RBIs decision causes investor withdrawal and affects small firms that rely on Paytm for transactions. While founder Vijay Shekhar Sharma is trying to contain the damage, continued legal issues raise questions about corporate governance in Indias IT industry. The situation raises concerns about the effectiveness of regulatory monitoring in wellknown companies and management boards. Read More..

B2B Tech News | 4 days ago        

Bitcoin Surges Past $50,000 on Impending Rate Cuts and ETF Approval

Thanks to the approval of U.S. ExchangeTraded Funds ETFs that follow its price and hopes of imminent interest rate reduction, Bitcoin surged beyond $5

Thanks to the approval of U.S. ExchangeTraded Funds ETFs that follow its price and hopes of imminent interest rate reduction, Bitcoin surged beyond $50,000 and reached its highest level in almost two years. The cryptocurrency reached $49,899 at lunchtime on Monday, up 16.3% year. The jump was driven by increased inflows into BTC spot ETFs after the SEC approved the first U.S. spot bitcoin ETFs on January 10. Estimates of the significant inflows that analysts anticipate into these ETFs range from $10 billion to $100 billion. Aside from waiting for judgements on Ether ETF applications that are still pending, investors are also looking forward to the April "halving" of bitcoin, which will signal essential turning points in the development of the cryptocurrency industry. Read More..

B2B Tech News | 4 days ago        

Investors Seek Next NVIDIA in Arm Holdings Amid AI Chip Demand Boom

Arm Holdings options trading has been frantic due to the boom in Artificial Intelligence AI equities, which has caused its shares to rise by 80% since

Arm Holdings options trading has been frantic due to the boom in Artificial Intelligence AI equities, which has caused its shares to rise by 80% since Wednesday. The demand for the companys AI chip design technology, along with its optimistic quarterly projection, has caused a spike in options volume that has surpassed the daily typical trading volume by ten times before the results announcement. According to analysts, investors are looking for the "next NVIDIA," this belief has been fueled by Nvidias impressive 220% increase in value over the last year. Record 600,000 contracts were traded in Arm on Monday alone. The most active contracts were call options, with share prices climbing above $185 by Friday. Read More..

B2B Tech News | 4 days ago        

Capgemini Forecasts Slower Revenue Growth for 2024 Amid Soft Market Conditions

According to French IT consultancy giant Capgemini, the first half of 2024 is expected to see weaker revenue growth. Despite these circumstances, CEO

According to French IT consultancy giant Capgemini, the first half of 2024 is expected to see weaker revenue growth. Despite these circumstances, CEO Aiman Ezzat voiced confidence in the companys potential to improve performance. Capgemini projects an operating profit margin of between 13.3% and 13.6% for the year, with flat to 3% sales growth in constant currency. The companys 2023 fullyear sales of €22.52 billion increased 4.4%, although it still fell short of its projected growth of 4%–7%. Revenue for the fourth quarter was €5.62 billion, a 0.2% decrease at constant exchange rates. Compared to the prior year, the companys employment shrank by 5% to 340,400 people. The board recommended a dividend of €3.40 per share for 2023. Read More..

B2B Tech News | 4 days ago        

European Union Advances Efforts to Support Ukraine with New Law on Frozen Assets

To help finance Ukraines rehabilitation, the European Union agreed on a regulation on Monday to handle windfall earnings from assets held by the Russi

To help finance Ukraines rehabilitation, the European Union agreed on a regulation on Monday to handle windfall earnings from assets held by the Russian central bank that had been blocked. After Russia invaded Ukraine, the EU and G7 froze assets worth over 300 billion euros, and discussions on their use lasted for more than a year. The new rule requires separate processing of income from Russian assets. It forbids Central Securities Depositaries CSDs, such as Euroclear, from utilising net earnings. In line with the G7 position, this action is to provide an estimated 15 billion euros over a fouryear period to aid in rehabilitating Ukraine. While the Kremlin has not yet responded, Ukrainian authorities applauded the decision. They urged bold and swift actions for practical use. Read More..

B2B Tech News | 4 days ago        

BYD Plans to Establish EV Factory in Mexico, Eyes U.S. Market Access

According to Nikkei, Chinas BYD Co Ltd is about to open a new electric vehicle EV facility in Mexico to act as an export centre to the United States.

According to Nikkei, Chinas BYD Co Ltd is about to open a new electric vehicle EV facility in Mexico to act as an export centre to the United States. Due to its proximity to the U.S. market, BYD, the worlds largest EV manufacturer by sales surpassed by Tesla Inc., considers Mexico a critical location. Despite its current concentration on the Chinese market, BYD actively seeks worldwide growth to support its goals of building operations abroad and increasing Chinese exports. Mexicos thriving automobile industry, closely linked to the American industry, makes it a suitable location. BYDs action aligns with its aspirations to make investments in Latin America, including a sizeable one in the northeastern part of Brazil. Read More..

B2B Tech News | 4 days ago        

Walmart in Talks to Acquire Vizio for Over $2 Billion, Eyeing TV Market Domination

Walmart is purportedly in talks to pay more than $2 billion to purchase the intelligent television company Vizio, which would give them a commanding p

Walmart is purportedly in talks to pay more than $2 billion to purchase the intelligent television company Vizio, which would give them a commanding position of over 20 per cent of the American television market. The deal may benefit Walmarts advertising company since it can display adverts to its large consumer base by utilising Vizios reach and shopper data. Walmarts acquisition aligns with its aim to concentrate on selling advertisements on its properties since its ad company, Connect, has been expanding quickly and brought in around $3 billion in sales last year. Additionally, if it owned Vizio, Walmart could increase its influence in the TV industry since it would have access to its active user base and software platform company. The conclusion of a transaction is up to William Wang, CEO of Vizio, and the negotiations are still underway. Read More..

B2B Tech News | 4 days ago        

Sonys Operating Profit Surges 10% in Q3, Exceeding Expectations

Surpassing forecasts, Sonys operational profit increased by 10% in the third quarter thanks to solid results in its finance, film, and music sectors.

Surpassing forecasts, Sonys operational profit increased by 10% in the third quarter thanks to solid results in its finance, film, and music sectors. After announcing last year that its financial unit would be partially spun off, the company plans to IPO Sony Financial Group in October 2025. From October to December, Sony generated a profit of 463.3 billion yen $3.08 billion, above experts forecasts of 428 billion yen. The companys transformation from the creator of the Walkman to a multifaceted entertainment and technological behemoth is seen from its impressive PlayStation 5 sales, which reached 8.2 million devices during the vital yearend commerce period. Read More..

B2B Tech News | 4 days ago        



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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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