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BUSINESS NEWS

Japanese Ministry of Industry Invests in Chip Development with $307 Million Subsidies

Japans industry ministry plans to donate around 45.2 billion yen $307 million in subsidies to encourage the advancement of optical technologies for ch

Japans industry ministry plans to donate around 45.2 billion yen $307 million in subsidies to encourage the advancement of optical technologies for chips to strengthen the nations semiconductor sector. The following businesses are involved in the initiative SK Hynix, NEC, Kioxia, Furukawa Electric, Shinko Electric, and Intel. The semiconductor industry wants to use optical technologies to lower power consumption and increase signal transmission speed. Amidst growing competition in sophisticated technologies, especially from China, Japan seeks to fortify its position in the chip industry and forge alliances with allies. Read More..

B2B Tech News | 2 months ago        

China Cinda, China Orient, and China Great Wall Asset Management to Merge into CIC

According to reports, China intends to combine China Cinda Asset Management, China Orient Asset Management, and China Great Wall Asset Management—th

According to reports, China intends to combine China Cinda Asset Management, China Orient Asset Management, and China Great Wall Asset Management—three of the nations leading bad debt managers—into China Investment Corp CIC, a sovereign wealth fund. The Chinese government is committed to keeping its functions as a shareholder and regulatory of stateowned financial institutions distinct, as evidenced by this action. Combining these Asset Management Corps AMCs into CIC aligns with more significant initiatives to address risks in the nations financial industry and reform financial institutions, especially concerning issues like the real estate crisis and local government debt. Read More..

B2B Tech News | 2 months ago        

Holcim Plans $30 Billion Spinoff of North American Operations

One of the biggest cement manufacturers in the world, Holcim, has stated that it intends to float all its North American operations in New York. The c

One of the biggest cement manufacturers in the world, Holcim, has stated that it intends to float all its North American operations in New York. The company may be worth roughly $30 billion after the change. The divestiture is anticipated to be finished in the first half of 2025. On May 1, Jan Jenisch, the CEO, will retire, and Miljan Gutovic will take over. By 2030, the spinoff hopes to increase yearly sales in the United States from around $11 billion to over $20 billion and turn a profit from operations of more than $5 billion. The Swiss SMI index will continue to list the remainder of Holcims international operations. Read More..

B2B Tech News | 2 months ago        

U.S. Plans Subsidies for Intel, TSMC, and Others in Semiconductor Boost

The Biden administration anticipates announcing billiondollar subsidies for semiconductor businesses, such as Intel and Taiwan Semiconductor Manufactu

The Biden administration anticipates announcing billiondollar subsidies for semiconductor businesses, such as Intel and Taiwan Semiconductor Manufacturing Co TSMC, to encourage the development of new chip manufacturers in the United States. The subsidies aim to increase the production of cuttingedge semiconductors essential for defence systems, cell phones, and artificial intelligence. Executives from the industry who are aware of the discussions expect announcements before President Bidens March 7 State of the Union speech. Intel, TSMC, Samsung Electronics, Micron Technology, Texas Instruments, and GlobalFoundries are among the possible beneficiaries. The subsidies are intended to support U.S. chip manufacturing as part of the "Chips for America" initiative. Read More..

B2B Tech News | 2 months ago        

Ryanair Expects Boeing 737 MAX 10 Certification by YearEnd

Major Boeing client Ryanair hopes the Boeing 737 MAX 10 will be approved by years end and go into service in early 2025. Chief Financial Officer Neil

Major Boeing client Ryanair hopes the Boeing 737 MAX 10 will be approved by years end and go into service in early 2025. Chief Financial Officer Neil Sorahan of Ryanair expressed optimism that certification for the MAX 10 will come about by the end of 2024 and that the first aircraft may go into service in the first quarter of 2025. Ryanair has 150 MAX 10 aircraft with fixed orders and another 150 with options. The biggest model in Boeings 737 MAX series, the 737 MAX 10, is built to carry more people than its predecessors. Read More..

B2B Tech News | 2 months ago        

China Evergrande Unit to Sell Stake in Shantou Hengmeng for $19.20 Million

China Evergrande said that one of its subsidiaries has agreed to sell for CNY 137.6 million $19.20 million the entirety of its ownership in Shantou He

China Evergrande said that one of its subsidiaries has agreed to sell for CNY 137.6 million $19.20 million the entirety of its ownership in Shantou Hengmeng Property Development. A joint venture partner in Australia, Redleaf Trading, owns the remaining 65% of Shantou Hengmeng, with Hengda Real Estate Group Yuedong, a unit of Evergrande, controlling the other 65%. With the sale, Evergrande hopes to make around CNY 304 million, which it would utilise to settle its CNY 376 million debt with Shantou Hengyao Property Development. The corporation is attempting to pay off its debts despite its financial difficulties. Read More..

B2B Tech News | 2 months ago        

PayPal Unveils AIDriven Products and OneClick Checkout Feature

PayPals first significant announcement under CEO Alex Chriss is the introduction of new AIdriven goods and a oneclick checkout functionality. Chriss b

PayPals first significant announcement under CEO Alex Chriss is the introduction of new AIdriven goods and a oneclick checkout functionality. Chriss believes that AI presents a vast potential for PayPal, and the new products are meant to capitalise on investors excitement for AI. The business intends to launch a platform that uses AI to assist retailers in reaching out to new clients by using their past purchases. Additionally, retailers can suggest customised products to customers in their email receipts thanks to a programme dubbed "smart receipts" that runs on artificial intelligence. PayPal is also launching new capabilities for Venmo business profiles and Fastlane, a "oneclick" checkout option. Read More..

B2B Tech News | 2 months ago        

Toyota Labor Union Seeks Record Annual Bonus Equivalent to 7.6 Months of Pay

According to reports, the labour union representing Toyota is planning to seek its highest yearly bonus to date, which would be 7.6 months of salary i

According to reports, the labour union representing Toyota is planning to seek its highest yearly bonus to date, which would be 7.6 months of salary instead of the previous record of 7.2 months. The demand results from Toyotas prediction that the fiscal year ending in March 2024 would see recordbreaking consolidated operating earnings of 4.5 trillion yen $30.45 billion. It is also anticipated that the union will pursue sizable monthly wage increases. Major Japanese companies have already declared their intention to increase pay compared to the previous year. The Bank of Japan views the pay negotiations as critical to ending monetary stimulus as they are the means of attaining sustainable inflation and wage growth. Read More..

B2B Tech News | 2 months ago        



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