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Infosys Shares Drop 2.9% on Disappointing Annual Revenue Outlook

Shares of Infosys fell as much as 2.9% after the firm predicted yearly revenue lower than anticipated, raising concerns about the early prospects for

Shares of Infosys fell as much as 2.9% after the firm predicted yearly revenue lower than anticipated, raising concerns about the early prospects for the industrys revival. With a fall of 8% this year, Infosys has seen the worst performance among big Indian IT corporations. As of 0919 a.m. IST, it was trading at 1,390 rupees, its lowest level since November 2023. The Nifty IT services index fell 5.7%, whereas Tata Consultancy Services increased 2.3%. Infosyss Q4 results and outlook disappointed analysts, who raised worries about reduced demand, business leakages, and stagnant sectors. Due to concerns with growth predictability, some analysts lowered their target price for Infosys, which led to downgrades in outlooks for the companys next two fiscal years. Read More..

B2B Tech News | 3 months ago        

Bitcoin Plummets Below $60,000 as Israeli Missile Strike on Iran Spurs Market Jitters

On Friday, cryptocurrencies saw sharp decreases amid predictions of an Israeli missile strike on Iran, bitcoin fell below $60,000. Bitcoin dropped mor

On Friday, cryptocurrencies saw sharp decreases amid predictions of an Israeli missile strike on Iran, bitcoin fell below $60,000. Bitcoin dropped more than 5.5% to $59,961, while Ether dropped as well, going from $3,050 to $2,895. According to reports, Israel launched the airstrike in retaliation for an Iranian drone strike. After rising on the news, safehaven assets such as Treasuries, gold, and oil eventually fell from their highs. As investors waited for further information and evaluated the possibility of reprisal, the market attitude changed to flight to safety. Just hours before its "halving" incident, Bitcoin rebounded to $62,300, down 2% for the day. Read More..

B2B Tech News | 3 months ago        

Binance Secures VASP License from Dubai Regulator VARA, Expanding Offerings

Leading cryptocurrency exchange Binance declared on Thursday that it had received a licence from VARA, the regulatory body in Dubai. Thanks to this li

Leading cryptocurrency exchange Binance declared on Thursday that it had received a licence from VARA, the regulatory body in Dubai. Thanks to this licence, the platform can serve both qualified and institutional customers as well as retail ones. The responsible entity, Binance FZE, can extend its present operations beyond spot trading and fiat services thanks to the Virtual Asset Service Provider VASP licence. This includes offering staking and margin trading solutions accessible to eligible individuals. With this action, Binance is demonstrating its dedication to growing its services and product line in cryptocurrency, which might lead to new prospects for the exchange and its consumers. Read More..

B2B Tech News | 3 months ago        

TSMC Reports Strong FirstQuarter Results, Driven by Demand for AI Chips

The largest chip manufacturer in the world, Taiwan Semiconductor Manufacturing Company TSMC, beat market estimates with firstquarter profitability and

The largest chip manufacturer in the world, Taiwan Semiconductor Manufacturing Company TSMC, beat market estimates with firstquarter profitability and sales growth. The demand for chips used in AI applications was cited as a contributing factor in TSMCs good performance, which included net sales of NT$592.64 billion $18.87 billion and net income of 225.49 billion New Taiwan dollars €6.52 billion, its first quarterly profit gain in a year. CEO C.C. Wei predicts that this trend will continue, with server AI processor revenue rising by more than 50% by 2024. TSMC is upbeat about its future despite obstacles like overordering during the pandemic and current operational hiccups, which are consistent with industry expectations that demand for AIrelated products would drive future profitability. Read More..

B2B Tech News | 3 months ago        

South Africas March Inflation Dips to 5.3%, Signals Economic Stability

South Africas annual inflation rate dropped to 5.3% in March, a sign that the nations economy is making headway in containing prices. The headline con

South Africas annual inflation rate dropped to 5.3% in March, a sign that the nations economy is making headway in containing prices. The headline consumer inflation rate in February was 5.6%, down from 5.3% in January. This decline came after that. Despite this encouraging outcome, the South African central bank aims to control inflation between 3% and 6% and is unlikely to declare interest rate reductions anytime soon. Instead, it will likely keep its primary interest rate at 8.25% for a few months. South Africas growth projection for 2024 was recently decreased by the International Monetary Fund IMF to 0.9%, citing continued economic concerns made worse by the epidemic, including power outages, infrastructural problems, and high unemployment. Read More..

B2B Tech News | 3 months ago        

Alaska Air Group Expects Stronger Earnings, Business Travel Demand Surges

Surpassing market estimates, Alaska Air Group expects better profitability for the current quarter, driven by a rebound in business travel demand. Alt

Surpassing market estimates, Alaska Air Group expects better profitability for the current quarter, driven by a rebound in business travel demand. Although the grounding of its 737 MAX 9 aircraft caused a setback, Alaska had a lower loss for the first quarter. Shane Tackett, chief financial officer, emphasised the surprisingly positive trend in corporate travel expenditures, indicating a more solid forecast for the coming year. The airline raised its previous projection of $3 to $5 a share to $3.25 to $5.25 for fullyear earnings. Still, worries about rising gasoline prices persist, which has led to a review of the hedging programme. Alaska is hopeful despite obstacles, projecting secondquarter earnings that will be above analyst projections. Read More..

B2B Tech News | 3 months ago        

Ghana Navigates Complex Debt Restructuring Talks Amidst Economic Challenges

Ghana is now renegotiating and restructuring over $13 billion of its external debt with foreign investors. Although a provisional agreement has been r

Ghana is now renegotiating and restructuring over $13 billion of its external debt with foreign investors. Although a provisional agreement has been reached, the final parameters are still pending. Ghana, which defaulted on most of its $30 billion in foreign debt more than a year ago, faces a setback due to its inability to reach a feasible debt agreement with two bondholder groups. The goal is to decide to comply with IMF debt sustainability goals. China, the Paris Club, commercial lenders, and multilateral development institutions essentially hold Ghanas debt. The debt crisis makes economic problems like inflation and currency devaluation worse. Finance Minister Dr Mohammed Amin Adam said that notwithstanding this, Ghana is still dedicated to achieving the programme objectives backed by the IMF during the IMF/World Bank Spring Meetings in Washington, DC. Read More..

B2B Tech News | 3 months ago        

France and Germany Lag, UK Holds Steady European Economic Snapshot

Europe is facing economic difficulties the UK is stable, but Germany and France are trailing. Italy and Spain are getting better. Businesses are under

Europe is facing economic difficulties the UK is stable, but Germany and France are trailing. Italy and Spain are getting better. Businesses are under pressure from rising borrowing rates and inflation, which causes project cancellations and delays. Higher costs and mortgage rates impact consumers, lowering their discretionary income. The Weil European Distress Index brings financial concern to light, particularly for smaller, highly indebted companies in the retail, industrial, and real estate sectors. Healthcare is doing better, but overleveraged firms continue to raise worries. Germany is experiencing slow development, and France is experiencing more than everyday hardship. Despite increasing borrowing costs, the UK manages. Spain and Italy appear to be recovering. Despite ongoing difficulties, several nations show hope for an economic rebound. Read More..

B2B Tech News | 3 months ago        



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