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Verizon to Acquire Frontier Communications for $20 Billion, Expanding Fiber Network Coverage

The $20 billion allcash acquisition of Frontier Communications, a supplier of fibreoptic internet, has been announced by Verizon. To better compete wi

The $20 billion allcash acquisition of Frontier Communications, a supplier of fibreoptic internet, has been announced by Verizon. To better compete with AT&T and TMobile, Verizon hopes to grow its user base through this move. In addition to the 37.3% premium over the closing price of the shares before the purchase reports became public, Verizon has offered $38.50 for each Frontier share. Verizon intends to restructure Frontiers $11.25 billion in debt. With the combination of Verizons 7.4 million and Frontiers 2.2 million fibre customers, Verizons fibre network will now include the Midwest, Texas, and California in addition to the Northeast and midAtlantic. The agreement would gradually expand Verizons fibre network coverage from less than 10% to around 13%, still lagging behind AT&Ts 15%, when it closes in about 18 months. Read More..

B2B Tech News | 3 months ago        

Hewlett Packard Enterprise Raises Profit Forecast Amid Surge in AI Server Demand

On Wednesday, Hewlett Packard Enterprise HPE boosted its projection for annual earnings, citing rising company expenditures in AI infrastructure and i

On Wednesday, Hewlett Packard Enterprise HPE boosted its projection for annual earnings, citing rising company expenditures in AI infrastructure and increasing demand for AI servers. Despite this, HPEs shares experienced a loss in revenue from its data analysis and conventional cloud businesses, which caused them to drop by about 3% in afterhours trading. As market expectations for AIrelated firms remain strong, the companys maintenance of its fullyear revenue projection contributed to the sharp decline. With thirdquarter server revenue up 35% to $4.3 billion, HPEs AI server business—particularly those utilising Nvidia processors—continues to thrive. The company revised its $1.85–$1.95 annual adjusted earnings per share outlook to $1.92–$1.97. HPE projects adjusted EPS of 52–57 cents per share for Q4, with revenue of $8.1–$8.4 billion, slightly above market forecasts. Read More..

B2B Tech News | 3 months ago        

Oaktree Capital Sells Banca Progetto to Centerbridge Partners for Over €500 Million

The sale of Italian speciality financing bank Banca Progetto to private equity firm Centerbridge Partners has been agreed upon by investment firm Oakt

The sale of Italian speciality financing bank Banca Progetto to private equity firm Centerbridge Partners has been agreed upon by investment firm Oaktree Capital Management. The banks loan book had increased from €50 million to €7.6 billion since Oaktree initially invested in Banca Progetto in 2015 when it was still known as Banca Popolare Lucchese. Stateguaranteed loans have helped Banca Progetto, which specialises in financing small and midsized Italian enterprises. The banks net profit for the previous year was €72 million, significantly above the norm for Italian banks, with a 28% return on equity. The sale, valued at over €500 million, was advised by Morgan Stanley for Oaktree, Kitra Advisory, and JPMorgan for Centerbridge. Centerbridge, managing $38 billion, previously invested in the Italian financial sector with a stake in BFF. Read More..

B2B Tech News | 3 months ago        

India and Singapore Forge New Alliances Semiconductors, Digital Tech, Skills, and Healthcare MOUs Signed

India and Singapore inked several Memorandums of Understanding MOUs to strengthen cooperation in critical areas during the visit of Indian Prime Minis

India and Singapore inked several Memorandums of Understanding MOUs to strengthen cooperation in critical areas during the visit of Indian Prime Minister Narendra Modi. The agreements emphasise collaboration in digital technology, healthcare, talent development, and semiconductors. These MOUs seek to deepen relations between the two countries by using their respective advantages and tackling shared issues. The digital technology agreement is anticipated to promote innovation and technological developments, while the semiconductor deal will likely entail cooperative research and development activities. Improving worker capacities and health systems is the goal of the accords on skill development and healthcare. These MOUs, representing a shared vision for growth and development, are a testament to both nations commitment to strengthening their collaboration and advancing these critical industries. Read More..

B2B Tech News | 3 months ago        

RBA Governor Michele Bullock No Rate Cuts in Sight as Inflation Remains Above Target

Governor of the Reserve Bank of Australia RBA, Michele Bullock, stressed that the main worry should be sustained inflation and that it is premature to

Governor of the Reserve Bank of Australia RBA, Michele Bullock, stressed that the main worry should be sustained inflation and that it is premature to think about shortterm rate reductions. Bullock said that bringing inflation down to the 23% goal range is still the RBAs top aim in a speech in Sydney. Bullock remained hawkish in July despite the sluggish economic growth and a minor decrease in headline inflation to 3.5%. She emphasised that pressures on domestic inflation, especially in the housing and market services sectors, are still a factor in abovetarget inflation. Since last November, the RBA has maintained interest rates at 4.35% and will react suitably to economic shifts. Markets anticipate a 42% chance of a rate cut by November, but Bullock stressed that high inflation must be addressed to avoid more severe financial impacts. Read More..

B2B Tech News | 3 months ago        

Xi Jinping Pledges $51 Billion to Africa for Infrastructure, Jobs, and Clean Energy Projects

President Xi Jinping promised to provide $51 billion in fresh funding for Africa at the Forum on ChinaAfrica Cooperation Summit in Beijing. The money

President Xi Jinping promised to provide $51 billion in fresh funding for Africa at the Forum on ChinaAfrica Cooperation Summit in Beijing. The money will assist in financing thirty infrastructure initiatives and create at least one million jobs on the continent. Xi plans to start 30 renewable energy projects to solve electricity shortages and support Africas nuclear energy ambitions. In addition, he pledged to assist the growth of the African Continental Free Trade Area and enhance market access for African trade. The $51 billion package includes investments and credit lines worth $50.72 billion from Chinese enterprises, along with increased funding for military and other activities. Read More..

B2B Tech News | 3 months ago        

Prime Minister Modis Singapore Visit Aims to Boost Strategic and Economic Ties

The main goals of Prime Minister Modis visit to Singapore are expected to be enhancing commercial and strategic relationships, with an emphasis on adv

The main goals of Prime Minister Modis visit to Singapore are expected to be enhancing commercial and strategic relationships, with an emphasis on advanced manufacturing, digitalisation, and sustainable development. The significance of Singapore in Indias larger IndoPacific policy and as a major actor in ASEANIndia ties are further highlighted by this visit. It is probable that the purpose of the talks with Singaporean business executives and leaders would be to enhance collaboration and boost Singaporean investment in Indias developing industries. Read More..

B2B Tech News | 3 months ago        

Salesforce to Acquire AI Startup Tenyx to Boost Voice Agent Capabilities

Tenyx is an AIpowered speech assistant firm that Salesforce CRM.N said it would buy. The agreement intends to improve Salesforces AIdriven products an

Tenyx is an AIpowered speech assistant firm that Salesforce CRM.N said it would buy. The agreement intends to improve Salesforces AIdriven products and is anticipated to close in the third quarter. Tenyx was established in 2022 and provides services to various sectors, including travel, hotel, ecommerce, and healthcare. The purchase fits in with Salesforces plan to increase revenue growth and enter the M&A market again after concentrating on share buybacks in the past. This action fits into a larger pattern among tech behemoths like Amazon and Microsoft, who have also made extensive purchases to strengthen their AI capacities. Salesforces Q2 sales and earnings were recently above Wall Street estimates, primarily due to higher expenditure on its cloud offerings. 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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