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Atos Secures €1.82 Billion Funding in Major Debt Restructuring Move

With the completion of a significant financial restructuring phase, the French IT company Atos ATOS.PA has secured cash totaling 1.675 billion euros $

With the completion of a significant financial restructuring phase, the French IT company Atos ATOS.PA has secured cash totaling 1.675 billion euros $1.82 billion through a lockup agreement with a group of banks and bondholders that account for more than half of its creditors. With the other creditors urged to join the deal by July 22, this step intends to restructure its debt. Additionally, Atos obtained 800 million euros in interim funding, of which 450 million euros are now available, guaranteeing liquidity through the end of the restructuring process in late 2024 or early 2025. Atos informed stakeholders that the companys governance structure will remain independent despite these financial manoeuvres, announcing plans for new governance after the reorganisation. Read More..

B2B Tech News | 3 months ago        

VinFast Postpones North Carolina Factory Opening to 2028, Reduces 2024 Vehicle Delivery Target

The $4 billion North Carolina facility of VinFast, a Vietnamese electric vehicle EV company led by Pham Nhat Vuong, the countrys richest man, will not

The $4 billion North Carolina facility of VinFast, a Vietnamese electric vehicle EV company led by Pham Nhat Vuong, the countrys richest man, will not open until 2028. In light of economic difficulties and uncertainty in the worldwide EV industry, the delivery prediction for 2024 has been lowered, with 80,000 instead of 100,000 vehicles expected. VinFast is confronted with obstacles due to dynamic macroeconomic conditions and competitive pressures in the electric car industry, even with a 92% yearoveryear surge in firsthalf sales to 21,747 units. Despite these changes, the firm is still committed to growing its product portfolio and breaking into new Asian markets. Read More..

B2B Tech News | 3 months ago        

Alphabet Nears $23 Billion Deal to Acquire Cybersecurity Firm Wiz

For almost $23 billion, Alphabet GOOGL.O is in advanced talks to buy cybersecurity company Wiz, making this its biggest purchase to date. With its cur

For almost $23 billion, Alphabet GOOGL.O is in advanced talks to buy cybersecurity company Wiz, making this its biggest purchase to date. With its current headquarters in New York, Wiz was first established in Israel and focuses on providing cloudbased cybersecurity solutions with AIdriven threat detection and response capabilities. The mostly cashfinanced purchase may soon be completed, according to people with knowledge of the situation. The Biden administrations increased regulatory scrutiny of the concentration of the tech industry coincides with this possible purchase. With 900 workers worldwide and projected revenues of over $350 million in 2023, Wiz is a big corporation that services Fortune 100 organisations. It was recently valued at $12 billion following a $1 billion fundraising round. Read More..

B2B Tech News | 3 months ago        

TSMC Set to Report 30% Surge in Q2 Profit, Driven by AI Chip Demand

As the worlds largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. TSMC is about to report secondquarter profit up 30% to around T$236.1

As the worlds largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. TSMC is about to report secondquarter profit up 30% to around T$236.1 billion $7.25 billion. A strong market for sophisticated processors, particularly those employed in artificial intelligence applications, is whats behind this increase. With over a trillion dollars in market value for its American Depositary Receipts, TSMCs impressive achievement is indicative of a larger trend towards AI technology. Amidst competition from Intel and Samsung, the companys continuous attempts to expand, including large investments in new facilities such as those in Arizona, demonstrate its dedication to satisfying the need for semiconductors worldwide. The capital expenditure and prognosis for the rest of the year will also be revealed on TSMCs next earnings call. Read More..

B2B Tech News | 3 months ago        

Greta Minerals Expands Presence with Strategic Lithium and REE Asset Acquisition in Western Australia

Significant lithium and rare earth element REE exploration properties in Western Australia have been successfully acquired by Greta Minerals PTE Ltd,

Significant lithium and rare earth element REE exploration properties in Western Australia have been successfully acquired by Greta Minerals PTE Ltd, a division of the Greta Group, headquartered in Singapore. With this acquisition, Greta Groups operating footprint and portfolio are increased to include over 700 km2 of strategically positioned exploration tenements on the extremely promising Ida Fault. The companys skills are further enhanced by its strategic cooperation with Mr. Tan, who is wellknown from Aussie Gold Hunters. Situated in Western Australias wellknown "Lithium Corridor," these resources are wellpositioned to investigate possible extensive mineral resources by taking use of the geological benefits of the hydrothermal fluid channels on the Ida Fault. With an emphasis on sustainability and innovation in the exploitation of natural resources, Greta Minerals seeks to advance exploration in a responsible manner. Read More..

B2B Tech News | 3 months ago        

Hedge Funds Target South Koreas Chipmakers SK Hynix, Samsung Amid AI Boom

A growing number of hedge funds are concentrating on South Koreas chipmakers, especially Samsung Electronics and SK Hynix, attracted by the predicted

A growing number of hedge funds are concentrating on South Koreas chipmakers, especially Samsung Electronics and SK Hynix, attracted by the predicted demand for premium memory chips from artificial intelligence. Despite playing a crucial role in the AI industry, funds such as Man Group, FengHe Fund Management, CloudAlpha Capital Management, and East Eagle Asset Management believe these companies are undervalued compared to rivals like Taiwans TSMC. Investor confidence is further reinforced by government assistance programmes, such as the $19 billion semiconductor industry support package in South Korea and steps to increase shareholder returns. With confidence in the IT sectors growth potential despite dangers like currency fluctuations and market rules, South Korean stocks have attracted considerable inflows, propelling the KOSPI index to its highest month in seven months. Read More..

B2B Tech News | 3 months ago        

Alphabet Halts Talks to Acquire HubSpot Amid Regulatory Scrutiny

A person familiar with the situation claims that Googles parent company, Alphabet, has chosen against pursuing a purchase of internet marketing softwa

A person familiar with the situation claims that Googles parent company, Alphabet, has chosen against pursuing a purchase of internet marketing software business HubSpot. Before abruptly ending, the Alphabet and HubSpot talks stayed within the preliminary stages and never reached the point of due diligence. This decision was made despite prior rumours from April that Alphabet was thinking about making a $25 billion takeover offer for HubSpot. The acquisition would have been Alphabets most significant transaction if it had gone through. However, antitrust authorities could have scrutinised the deal because of growing worries about the concentration of the tech sector. In the face of economic uncertainty brought on by rising borrowing rates, HubSpot—known for its inbound marketing software designed specifically for small and mediumsized businesses—has been negotiating problems connected to client demand. Read More..

B2B Tech News | 3 months ago        

China Reforms Economic Metrics, Shifts Focus to Financial Sector Profitability

China recently changed its methodology for estimating the financial sectors economic contribution, moving from emphasising the growth of loans and dep

China recently changed its methodology for estimating the financial sectors economic contribution, moving from emphasising the growth of loans and deposits to considering profitability factors like net interest income and fees. With effect from early 2024, this modification attempts to reduce distortions brought about by inflated balance sheets intended to fulfil GDP objectives and to give a more realistic picture of the sectors valueadded. The prior approach frequently exaggerated the financial sectors economic impact since it primarily focused on increasing assets and liabilities. The modification is a part of more significant initiatives to improve the effectiveness and openness of loan distribution, indicating a change in economic measures towards a preference for quality over quantity. This action may result in the financial sector contributing less in the face of persistent difficulties like an earnings crisis. Read More..

B2B Tech News | 3 months ago        



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Refresh Your Facts

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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5.  Approximately 8 billion gadgets connect on the internet every day.
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