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Spirit AeroSystems Secures $425 Million Advance Payment Deal with Boeing

The U.S. aviation regulators restriction on Boeings 737 MAX manufacturing has created hurdles for Spirit AeroSystems, including low inventory levels a

The U.S. aviation regulators restriction on Boeings 737 MAX manufacturing has created hurdles for Spirit AeroSystems, including low inventory levels and cash flow. Spirit AeroSystems and Boeing have agreed to $425 million in advance payments. This action is being taken in the middle of talks about Boeing possibly purchasing its previous subsidiary Spirit, and as the company struggles with the fallout from a midair panel problem involving a new Alaska Airlines 737 MAX 9. As per the agreement, Spirit is required to sustain a production pace that satisfies Boeings contractual requirement, with the latter stressing their joint efforts to improve quality, stabilise operations, and support customers. Additionally, Spirit will give Boeing specific financial data every week, which will help management in the face of fewer anticipated deliveries and higher manufacturing costs due to regulatory decisions. Read More..

B2B Tech News | 3 months ago        

Teslas Stock Rises Ahead of Quarterly Results Amidst Margin Concerns

Ahead of its firstquarter results, which were predicted to show the lowest gross profit margin in more than six years due to price reductions and wani

Ahead of its firstquarter results, which were predicted to show the lowest gross profit margin in more than six years due to price reductions and waning demand, Teslas shares increased by 2.9%. The introduction of the Model 3s allwheel drive performance model, which is eligible for federal tax credits, came before CEO Elon Musk was expected to be questioned about the future of the Model 2, which was supposed to be affordable. Refocusing attention on a selfdriving robotaxi, Reuters announced its cancellation. Amid worries over Teslas lagging sales growth and frequent price reductions, Musk escalated rumours by cancelling a meeting with the prime minister of India. Analysts predict that yearly sales will begin to fall in 2024, which indicates a problematic future for the manufacturer of electric cars. Read More..

B2B Tech News | 3 months ago        

Ant Group Explores Alipay+ Expansion to Indonesia for CrossBorder Payments

According to Peng Yang, CEO of Ant Groups international business group, the company is in talks with Indonesia to launch its Alipay+ crossborder payme

According to Peng Yang, CEO of Ant Groups international business group, the company is in talks with Indonesia to launch its Alipay+ crossborder payment service. Launched in 2020, Alipay+ enables transactions in foreign markets utilising local ewallets, facilitating crossborder payments for global merchants and ewallet users. Yang stated that the business hopes to begin this year and would work with Indonesias central bank to provide operational guidelines. With the approval of both parties, Ant Group, which is associated with Alibaba Group, aims to increase the size of its financial services presence in Indonesia. Read More..

B2B Tech News | 3 months ago        

Nigerias Daily Crude Oil Production Falls to 1.2 Million Barrels in March

OPEC data shows that Nigerias average daily crude oil output fell to 1.2 million barrels in March from 1.3 million in February. Given that the nation

OPEC data shows that Nigerias average daily crude oil output fell to 1.2 million barrels in March from 1.3 million in February. Given that the nation wants to produce 1.7 million barrels per day, including condensate, by 2024, this decline presents serious obstacles. A significant amount of Nigerias projected income is at risk because of the output deficit related to theft, vandalism, and repair activities. The 2024 budget places a heavy emphasis on oil sales, which is why there is a growing need to diversify sources of revenue. Isaac Botti emphasizes bringing back underutilized industries like manufacturing and agriculture, which have historically been important to Nigerias economy. Heineken Lokpobiri, Minister of State for Petroleum Resources, guarantees prompt corrective action to solve production problems. Read More..

B2B Tech News | 3 months ago        

Wipro Shares Surge 2.4% on Strong FourthQuarter Results

Following its fourthquarter results, which exceeded analysts forecasts and raised confidence in the leadership of new CEO Srinivas Pallia, Wipros shar

Following its fourthquarter results, which exceeded analysts forecasts and raised confidence in the leadership of new CEO Srinivas Pallia, Wipros shares increased by 2.4%. At 1.8% higher, the company is now leading the advances on the Nifty IT index. Despite this rise, Wipros shares have decreased by 4% this year, which contrasts with the performance of its bigger competitors, TCS and Infosys. Pallia stresses expansion above all else in the face of difficulties facing the Indian IT industry. Analysts predict Pallia will improve deal wins and expand on organisational simplicity. Nevertheless, several analysts have reduced Wipros target price in the wake of the findings, and some have even downgraded the company, indicating a cautious attitude despite the encouraging outcomes. Read More..

B2B Tech News | 3 months ago        

Malaysia Unveils Plans for Southeast Asias Largest Integrated Circuit Design Park

Malaysia has revealed plans to create Southeast Asias largest integrated circuit design park to lure international IT businesses, complete with tax ex

Malaysia has revealed plans to create Southeast Asias largest integrated circuit design park to lure international IT businesses, complete with tax exemptions and subsidies. Prioritising Kuala Lumpur as a digital centre for the area, Malaysia hopes to rise in the global startup ecosystem index by 2030. Prime Minister Anwar Ibrahim emphasises the transition in the semiconductor sector from assembly and testing to highvalue frontend design work. With funding from the state of Selangor, the park will work with multinational behemoths like Arm Holdings. To further encourage job creation and entrepreneurial potential, Khazanah Nasional will also create a fund to invest in Malaysian businesses. Incentives such as reduced tax rates and subsidised office premises are also intended to entice global venture capital firms and digital unicorns. Read More..

B2B Tech News | 3 months ago        

China Forgives Zimbabwes Loans, Pledges Debt Assistance Amid Economic Crisis

China has promised to help Zimbabwe resolve its financial issue and has forgiven unspecified amounts of the countrys interestfree loans. Ambassador Zh

China has promised to help Zimbabwe resolve its financial issue and has forgiven unspecified amounts of the countrys interestfree loans. Ambassador Zhou Ding underlined Chinas determination to resolve Zimbabwes debt problems, given that the nation is struggling with an astounding $17.7 billion in publicly guaranteed debt, most of which is owing to foreign parties, most notably China. Critics warn that Beijing is gaining political power while the US is losing ground in Africa due to Chinas efforts, which might prolong the debt trap. Reintroducing its currency for the third time in ten years, Zimbabwe, beset by severe drought and mounting debt, hopes to ease the financial load on its people as sufferings mount. Read More..

B2B Tech News | 3 months ago        

Macquarie Bank Fined A$10 Million for Allowing Unauthorized Fee Transactions

The Federal Court of Australia fined Macquarie Bank A$10 million $6.4 million for failing to stop third parties from making unauthorized fee transacti

The Federal Court of Australia fined Macquarie Bank A$10 million $6.4 million for failing to stop third parties from making unauthorized fee transactions on its customers accounts. Macquarie granted different authorization levels to other parties, such as financial advisors. From May 2016 to January 2020, the bank did not check if transactions were for fees, even though it offered a platform for bulk transacting. Due to this oversight, financial advisor Ross Hopkins could stealthily take around A$2.9 million from his customers accounts without being caught. The banks parent business, Macquarie Group, committed to paying the penalties and compensating the impacted clients. ASIC Chair Joe Longo emphasized that the fraudulent actions resulted from Macquaries violation of statutory responsibilities. Read More..

B2B Tech News | 3 months ago        



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