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Nvidia Shares Plunge 9.5%, Marking Largest SingleDay Loss for U.S. Company Ever

Tuesdays 9.5% decline in Nvidias NVDA.O shares was the worst oneday decline in the market capitalisation of an American firm. Amid broader market fall

Tuesdays 9.5% decline in Nvidias NVDA.O shares was the worst oneday decline in the market capitalisation of an American firm. Amid broader market falls, investors attitudes about AI technology have shifted, as seen by this reduction, which amounts to a $279 billion decrease in market capitalisation. The PHLX chip index .SOX also dropped 7.75%, marking the worst oneday decline since 2020. Nvidias recent quarterly projection exacerbated the selloff, which fell short of investors lofty expectations. Furthermore, reorganisation plans caused Intel INTC.O to drop by about 9%, and worries about AI spending have impacted other tech behemoths, including Microsoft MSFT.O and Alphabet GOOGL.O. Nvidia has gained 118% this year, but the stocks drop indicates that investors are becoming more sceptical about the AI industrys potential for profit. Read More..

B2B Tech News | 3 months ago        

AT&T and Nokia Forge $5 Billion Fiber Network Deal to Boost U.S. Broadband Access

Having lost a significant wireless contract to Ericsson, Nokia and AT&T have now inked a new arrangement to construct a fiber network in the United St

Having lost a significant wireless contract to Ericsson, Nokia and AT&T have now inked a new arrangement to construct a fiber network in the United States. Nokia called the fiveyear fiber agreement a "significant milestone" that will improve internet access for millions of Americans and boost AT&Ts fiber network growth, which will cover 27.8 million sites by Q2 2024, despite the financial specifics not being made public. This agreement complies with the "Build America, Buy America" mandate regarding U.S. government funding. According to Nokia CEO Pekka Lundmark, the rising fiber market and a $42 billion U.S. broadband plan could boost net sales in the second half of the year. Read More..

B2B Tech News | 3 months ago        

Super Micro Refutes Hindenburgs Allegations, Calls Report False and Misleading

The shortseller Hindenburg Research made accusations, which Super Micro Computer SMCI has denied, stating that the report contains "false or inaccurat

The shortseller Hindenburg Research made accusations, which Super Micro Computer SMCI has denied, stating that the report contains "false or inaccurate statements" and "misleading presentations" of previously released facts. Following the denial, the companys shares increased by over 2%. It said it would address the claims when the time was right and gave no more information. Super Micros share price fell sharply when Hindenburg accused the company of "accounting manipulation," concealing relatedparty transactions, and breaking export laws. Super Micro insists that these problems do not impact its business performance, production capacity, or capacity to provide IT solutions. Read More..

B2B Tech News | 3 months ago        

China Seeks to Boost African Imports of EVs and Solar Panels at Beijing Summit

China hopes to increase African imports of its commodities, incredibly cuttingedge technology like solar panels and electric vehicles EVs, before West

China hopes to increase African imports of its commodities, incredibly cuttingedge technology like solar panels and electric vehicles EVs, before Western export curbs take effect during this weeks Forum on ChinaAfrica Cooperation Summit in Beijing. African leaders will be shown the chance to use green energy by Chinese President Xi Jinping. Still, they will also expect action on unfulfilled promises from the 2021 summit, such as an unfinished infrastructure project and a $300 billion pledge for commodities acquisition. Chinas move from largescale projects to investments in technology and green energy indicates its aim to focus on emerging markets and overcome trade hurdles with the West. Even though Beijing plays a significant role in commerce and finance, there are doubts about its readiness to provide more money in light of Africas chronic debt problems. Read More..

B2B Tech News | 3 months ago        

South Koreas Inflation Eases to 2.0% in August, Aligning with Central Banks Target

In August, consumer inflation in South Korea decreased to 2.0%, which was in line with the central banks 2% objective and was the lowest annual growth

In August, consumer inflation in South Korea decreased to 2.0%, which was in line with the central banks 2% objective and was the lowest annual growth in over 3.5 years. Given that GDP concerns are overshadowing inflation, this slowdown from Julys 2.6% reinforces market predictions for a potential rate decrease by the Bank of Korea as early as October. Vice Finance Minister Kim Beomseok stated that inflation is predicted to stabilise at the lower 2% level, barring unanticipated surprises. The core CPI, which does not include food and energy, grew by 2.1% yearly, signalling a decline from the previous month. The monthly CPI jumped by 0.4%, the most significant gain in six months. After the report, Treasury bond rates marginally dropped. Read More..

B2B Tech News | 3 months ago        

Russias Trade with India Hits $65 Billion in 2023 Amid Surge in Oil Exports

The deputy CEO of Sberbank, Anatoly Popov, claims that bilateral transfers between Russia and India are easy and flourishing. Due largely to increasin

The deputy CEO of Sberbank, Anatoly Popov, claims that bilateral transfers between Russia and India are easy and flourishing. Due largely to increasing oil shipments after Western sanctions, Russias commerce with India reached a record $65 billion in 2023. Unlike other partners, Sberbank, which handles up to 70% of Russian exports to India, has not reported any problems with rupee transactions. With a 150% increase in employees at its offices in Delhi, Mumbai, and Bangalore, the bank has increased its footprint in India. While the rupee excess issue has been rectified, Popov pointed out that India has to increase its exports to Russia tenfold. Without using foreign currency, the existing system enables effective roublerupee exchanges. Read More..

B2B Tech News | 3 months ago        

Brazils Finance Ministry to Propose New Tax Measures to Address Revenue Shortfalls

To reach the budgetary objective for 2025 and solve any potential income shortfalls, Brazils Finance Ministry intends to submit additional tax measure

To reach the budgetary objective for 2025 and solve any potential income shortfalls, Brazils Finance Ministry intends to submit additional tax measures to Congress this year. As suggested by Brazils status as G20 chair in global tax negotiations, the suggestions include taxing big tech businesses and imposing a minimum global tax of 15% on multinationals. With 17.9 billion reais in additional income tax receipts, the 2025 budget draft estimates a primary surplus of 3.7 billion reais. Moreover, the administration hopes to generate an additional 58.5 billion real through tax talks and dispute settlement initiatives. A primary deficit of around 0.76% of GDP is anticipated for 2025, compared to the zero deficit aim, but analysts are still determining. Read More..

B2B Tech News | 3 months ago        

Investors Pivot to Swiss Franc for Carry Trades as Yen Loses Appeal, Raising Risk of Sudden Rally

The possibility of an abrupt franc gain is still significant as speculators move their money for carry bets from the Japanese yen to the Swiss franc.

The possibility of an abrupt franc gain is still significant as speculators move their money for carry bets from the Japanese yen to the Swiss franc. As the yens attraction wanes, particularly in light of its substantial increase in August, the Swiss francs low interest rate of 1.25% has emerged as a desirable financing currency. Although the franc is a preferred choice due to its stability and safehaven reputation, there are hazards associated with its unpredictable character. Investors can suffer significant losses if the franc suddenly rallies in response to unsettling global markets or poor U.S. economic data. This technique is further complicated by the actions taken by the Swiss National Bank to stop undue appreciation. 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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