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BUSINESS NEWS

Small and MidCap Sectors Surge in Sales on Back of Capex and B2B Momentum

Jefferies report notes strong sales growth in small and midcap sectors due to capex and B2B companies, offsetting lower sales in consumerfacing firms.

Jefferies report notes strong sales growth in small and midcap sectors due to capex and B2B companies, offsetting lower sales in consumerfacing firms. Electronics manufacturers like Amber Enterprises and Dixon Technologies saw growth due to production incentives, while agrochemicals company UPL faced a sales decline. Despite varied sales performances, these sectors experienced significant profit growth, driven by improved margins and factors like cost adjustments. Margins rose for 70% of the covered companies, notably in building products but declined in certain appliance and electrode sectors due to demand and pricing pressures. Read More..

B2B Tech News | 3 months ago        

Fintechs Face Uphill Battle as Funding Costs Surge, Rates Likely to Rise

Fintech lenders might see customers shifting to banks and NBFCs due to an expected increase in interest rates, driven by higher funding costs after th

Fintech lenders might see customers shifting to banks and NBFCs due to an expected increase in interest rates, driven by higher funding costs after the RBI raised weights on unsecured loans. This move will likely push fintechs to broaden their product range. While some financially robust fintechs may absorb increased costs, many could raise rates for retail customers. CEO Madhusudan Ekambaram of KreditBee noted that premium customers, drawn to fintechs for convenience, might switch to bank or NBFC apps if fintechs raise rates significantly. This presents an opportunity for banks to attract these customers. However, not all fintechs are expected to increase rates, particularly those less exposed to unsecured loans. Read More..

B2B Tech News | 3 months ago        

Former OpenAI Leaders Join Microsofts AI Research Team, Stirring Employee Backlash

Over 700 OpenAI employees signed a letter demanding the boards resignation and the reinstatement of former CEO Sam Altman. They threatened to leave fo

Over 700 OpenAI employees signed a letter demanding the boards resignation and the reinstatement of former CEO Sam Altman. They threatened to leave for Microsoft following news of Altman and cofounder Greg Brockman joining Microsofts AI research team. The employees warned of resignations if Altman and Brockman werent retained, despite potential immigration risks. OpenAIs chief scientist expressed regret over internal turmoil. Employees on visas fear complications with their immigration status. Microsoft created a special AI team for former OpenAI staff, with Altman possibly becoming CEO. Emmett Shear is the interim CEO at OpenAI. Microsofts move comes after failed negotiations to reinstate Altman. Their new AI chip aims to reduce reliance on Nvidia for AI computing. Read More..

B2B Tech News | 3 months ago        

Corporate Bond Alert Morgan Stanley Highlights Risks in Maturing Junk Bonds

Morgan Stanley advises corporate bond investors to concentrate on premium investmentgrade and highyield bonds due to a wave of maturities that present

Morgan Stanley advises corporate bond investors to concentrate on premium investmentgrade and highyield bonds due to a wave of maturities that presents problems for more junkrated corporations. Although most of the bad bonds that were scheduled to mature in 2023 did so, Morgan Stanley reports that another $73 billion will mature in the following 18 months, which will rise to $125 billion over the next six months. According to the bank, Higherquality trash bonds that mature next year will probably need to refinance at interest rates that are 125–250 basis points higher than they are now. For issuers of junk bonds of inferior quality, the situation is more complicated, and downgrades are anticipated. Read More..

B2B Tech News | 3 months ago        

Keysight Technologies Surpasses Q4 Profit Expectations with 4% Revenue Boost

Electronic design and test device maker Keysight Technologies exceeded market expectations for its fourthquarter profit. The companys sales increased

Electronic design and test device maker Keysight Technologies exceeded market expectations for its fourthquarter profit. The companys sales increased by 4% in aerospace, defence, and government, thanks to investments in radar, electromagnetic spectrum operations, space and satellite, and defence technology modernization. For the quarter ending in October, adjusted profits per share were $1.99, above analysts projections of $1.87 per share. Nonetheless, Keysight predicted that its adjusted earnings for the first quarter of 2024 would be between $1.53 and $1.59 per share, less than the projected $1.68 per share. Read More..

B2B Tech News | 3 months ago        

AmazonFunded Groups Rally Against Microsofts Cloud Dominance

Amazon is backing advocacy groups aiming to curb Microsofts rise in government cloud contracts. The groups argue that Microsofts Azure service locks c

Amazon is backing advocacy groups aiming to curb Microsofts rise in government cloud contracts. The groups argue that Microsofts Azure service locks customers in, hindering tech progress. Amazons substantial funding to these groups influences their efforts, advocating for Microsoft products on any cloud system, especially Amazon Web Services. Through lobbying and complaints, they push for open access to Microsoft software on various cloud platforms. Evidence suggests Amazons direct involvement in crafting statements for these groups, despite their claims of representing member consensus. Amazon denies authoring these statements. Read More..

B2B Tech News | 3 months ago        

Indias Auto Industries to Benefit from Teslas Expansion Plans

Indias Commerce Minister, Piyush Goyal, visited Teslas Fremont facility, lauding Indian talents role in Teslas operations and their pivotal contributi

Indias Commerce Minister, Piyush Goyal, visited Teslas Fremont facility, lauding Indian talents role in Teslas operations and their pivotal contribution to the electric vehicle EV sector. Goyal revealed plans for Tesla to double auto component imports from India, strengthening their partnership. Elon Musks prior meeting with Prime Minister Narendra Modi signaled future collaborations, with Musk intending to visit India in 2024. Goyals visit coincides with talks of potential customs duty concessions for Teslas manufacturing plant in India. The government clarified no separate policy for Tesla, urging the use of existing schemes like ProductionLinked Incentives PLI for innovation in ACC battery storage, auto, and drone industries, aligning with Indias sustainable development goals. Goyal affirmed the governments commitment to fair policies. Read More..

B2B Tech News | 3 months ago        

Clean Energy Employment Surges, Outpacing Fossil Fuels

In 2021, clean energy jobs globally surpassed traditional fossil fuel jobs for the first time, totaling 35 million compared to fossil fuels 32 million

In 2021, clean energy jobs globally surpassed traditional fossil fuel jobs for the first time, totaling 35 million compared to fossil fuels 32 million, according to the International Energy Agency. Clean energy is growing at 3.6 times the rate of fossil fuel jobs, with 4.7 million new clean energy jobs created worldwide. India saw increased fossil fuel employment postpandemic but also generated a substantial number of new clean energy jobs, ranking third globally in the energy workforce. China observed significant growth in clean energy employment but a decline in fossil fuel jobs, while coal industry employment continues to shrink globally, especially in less mechanized markets like China and India. Labor productivity rise poses challenges for these countries as coal jobs decline. Read More..

B2B Tech News | 3 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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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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