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Berkshire Hathaway Sells 33.9 Million Shares of Bank of America for $1.48 Billion

In recent transactions, Berkshire Hathaway sold over 33.9 million Bank of America shares for nearly $1.48 billion, per a regulatory filing. After this

In recent transactions, Berkshire Hathaway sold over 33.9 million Bank of America shares for nearly $1.48 billion, per a regulatory filing. After this transaction, Berkshire will have about 999 million bank shares. In addition to being a significant stakeholder in Bank of America, Berkshire holds stakes in Wells Fargo and JPMorgan Chase, two other significant banks, amid worries about the banks capital, Berkshire, led by Warren Buffett, first invested in Bank of America in 2011 by purchasing $5 billion in preferred stock and warrants for 700 million common shares. Read More..

B2B Tech News | 3 days ago        

Vodafone Sells Additional 10% Stake in Vantage Towers for €1.3 Billion

Vodafone has completed its divestment strategy and reduced its shareholding to the planned level by selling an additional 10% investment in Vantage To

Vodafone has completed its divestment strategy and reduced its shareholding to the planned level by selling an additional 10% investment in Vantage Towers for €1.3 billion. This transaction is a component of a 2022 deal to reduce debt by selling a portion of its Germanybased masts business to Global Infrastructure Partners GIP and KKR. The most recent transaction brings the total profits from the divestiture of Vantage Towers to €6.6 billion. After the deal, Vodafone currently owns 44.7% of the business, with Oak Holdings, which cocontrols Vantage Towers, holding 89.3% of the total. With the money, Vodafone can reduce its net debt and reach its 2.25x–2.775x leverage objective. Read More..

B2B Tech News | 3 days ago        

Morgan Stanley Predicts Crude Oil Market Tightness to Shift to Surplus in 2025

Although the market for crude oil will likely stay tight for most of the third quarter, Morgan Stanley predicts that it will shift into excess next ye

Although the market for crude oil will likely stay tight for most of the third quarter, Morgan Stanley predicts that it will shift into excess next year, with Brent crude prices falling into the midtohigh $70s area. The bank expects supply to rise more than demand as OPEC and nonOPEC output expands. At a future miniministerial meeting, OPEC+ will likely stick to its present output policy, which includes unravelling output curbs in October. According to Morgan Stanley, Goldman Sachs estimate for Brent crude in Q3 2024 is still $86 a barrel. U.S. West Texas Intermediate was trading at $80.56 a barrel as of Monday, while Brent crude was at $83.08 per barrel. Read More..

B2B Tech News | 3 days ago        

Wipro Shares Plunge 8% After Disappointing June Quarter Results

On Monday, Wipros stock fell at its sharpest rate in more than four years, dropping almost 8% by 1046 a.m. IST due to weak sales projections and unsat

On Monday, Wipros stock fell at its sharpest rate in more than four years, dropping almost 8% by 1046 a.m. IST due to weak sales projections and unsatisfactory June quarter results. Additionally, the Nifty IT index fell by 0.3%. While rivals Tata Consultancy Services, Infosys, and HCLTech revealed encouraging statistics and hinted at a pickup in client expenditure, Wipro saw an 11% decline in deal wins and revenue from the prior year. Concerned about Wipros broadbased sales headwinds, subdued forecast, and lacklustre contract wins, Morgan Stanley and Jefferies analysts predicted the company would continue to perform behind its rivals. Read More..

B2B Tech News | 3 days ago        

Meta Platforms in Talks to Acquire 5% Stake in EssilorLuxottica for $4.73 Billion

Meta Platforms is in talks to buy around 5% of its partner, EssilorLuxottica, which makes RayBan smart glasses. With a potential value of €4.33 bill

Meta Platforms is in talks to buy around 5% of its partner, EssilorLuxottica, which makes RayBan smart glasses. With a potential value of €4.33 billion $4.73 billion, the investment would increase Metas control over the advancement of intelligent eyewear. This action coincides with significant investments in augmented and mixed reality technology by tech behemoths like Apple. Following the announcement, shares of Meta increased 1.2%, while EssilorLuxottica increased 3%. Almost thirtythree per cent of the firm is owned by Delfin, the leading investor, founded in 2018 when Essilor and Luxottica merged. The CEO of EssilorLuxottica stated that sales of the most recent RayBan Meta smart glasses, which have live streaming and a Meta AI assistant, had been good. Read More..

B2B Tech News | 5 days ago        

Saudi Airline Saudia Orders Up to 100 Lilium eVTOL Jets in $700 Million Deal

With the commitment to buy up to 100 of the German company Liliums allelectric flying shuttles, Saudi airline Saudia Group has placed the most signifi

With the commitment to buy up to 100 of the German company Liliums allelectric flying shuttles, Saudi airline Saudia Group has placed the most significant order the German air taxi developer has ever received. A definitive order for fifty eVTOL planes and an option for an extra fifty, worth around $700 million, is included in the contract. The shortdistance shuttles are anticipated to be added to Saudi Arabias fleet in 2026 and would be utilised for pilgrimage and essential occasions. Although the first humancrewed flight has been delayed until early in the upcoming year, Lilium has 106 solid orders, 76 options, and over 600 memorandums of understanding. Saudias "Vision 2030" calls for the airline to treble its yearly passenger count by 2030. Read More..

B2B Tech News | 5 days ago        

Brazil Maintains 2024 Growth Forecast at 2.5% Despite Flooding Challenges

Notwithstanding significant floods in Rio Grande do Sul, the Brazilian government has maintained its forecast for economic growth in 2024 at 2.5 per c

Notwithstanding significant floods in Rio Grande do Sul, the Brazilian government has maintained its forecast for economic growth in 2024 at 2.5 per cent, crediting stability to policies that assist households and companies. However, because of weaker actual and higher gasoline costs, the inflation projection has been revised from 3.7% to 3.9%, which is a further departure from the 3% objective. This year, the reals decline vs. the US dollar exceeded 13%. Growth is anticipated to drop to 2.6% in 2025 from 2.8%, while inflation is predicted to rise to 3.3% in 2025 from 3.2%. Because of the high cost of borrowing, growth has slowed. The central bank has kept interest rates at 10.5% in light of global uncertainty. Read More..

B2B Tech News | 5 days ago        

Paraguay to Enhance AntiDrug Efforts with Embraer Super Tucano A29 Fighter Purchase

On Thursday, Defence Minister Oscar Gonzalez said that Paraguay is in talks with Brazil to buy six Embraer Super Tucano A29 fighter jets for $96 milli

On Thursday, Defence Minister Oscar Gonzalez said that Paraguay is in talks with Brazil to buy six Embraer Super Tucano A29 fighter jets for $96 million to strengthen its efforts against drug trafficking. This agreement is a component of the Paraguayan governments more significant $500 million defence and security strategy. Gonzalez stated that he hoped to complete the agreement within the year and that it would assist in addressing "new threats" posed by organised crime and drug trafficking. Congress must provide its permission even though the administration has issued an order approving the purchase without holding a public tender. Uruguay recently disclosed that it is in negotiations to purchase six Embraer combat aircraft to bolster its military capabilities. Read More..

B2B Tech News | 5 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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