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Commonwealth Bank CEO Matt Comyn Slams MP Over Misinformation and Tax Proposal

Commonwealth Bank of Australia CBA CEO Matt Comyn denounced a lawmaker for disseminating false information and denounced a tax hike on large corporati

Commonwealth Bank of Australia CBA CEO Matt Comyn denounced a lawmaker for disseminating false information and denounced a tax hike on large corporations that was being pursued by "insidious populism" and lacked foundation. Defying proposals from the Reserve Bank of Australia, Comyn countered statements made during a parliamentary inquiry that pointofsale fees imposed by banks were a significant source of profit, labelling such language as harmful. Additionally, he criticised a recent Greens party plan to raise taxes on banks and miners, claiming it needed more validity and was predicated on incorrect premises. Comyns comments were a break from the customarily submissive attitude that Australian bank executives had previously adopted. Read More..

B2B Tech News | 4 months ago        

Bank of Mexico Cuts GDP Growth Forecasts Amidst Weak Economic Performance

With a 1.5% GDP growth rate for 2024—down from 2.4%—and a 1.2% GDP growth rate for 2025—down from 1.5%—the Bank of Mexico has lowered its esti

With a 1.5% GDP growth rate for 2024—down from 2.4%—and a 1.2% GDP growth rate for 2025—down from 1.5%—the Bank of Mexico has lowered its estimates for economic growth. This revision results from lowerthanexpected secondquarter growth, decreased demand for overseas manufacturing, and decreased domestic infrastructure projects. The central bank is cautious, emphasising ongoing inflation concerns, even with the latest 0.2% quarterly gain. It now projects higher inflation than anticipated, with core inflation at 3.9% and headline inflation at 4.4% by years end. The central bank expects continued difficulties with inflation but suggests the possibility of more rate reductions should inflation trends improve. The central bank recently dropped its benchmark interest rate to 10.75%. Read More..

B2B Tech News | 4 months ago        

Nippon Steel to Invest Additional $1.3 Billion in U.S. Steel Mills

A $1.3 billion investment in U.S. Steels two mills is part of an ongoing takeover by Nippon Steel, the largest steelmaker in Japan. Adding to the $1.4

A $1.3 billion investment in U.S. Steels two mills is part of an ongoing takeover by Nippon Steel, the largest steelmaker in Japan. Adding to the $1.4 billion already committed through 2026, this additional investment will spend $1 billion to expand Mon Valley Works ability to produce highgrade steel and $300 million to prolong Gary Works production life in Indiana. A political and regulatory roadblock, including worries from the United Steelworkers USW union, hampered Nippon Steels $14.9 billion acquisition of U.S. Steel, completed in December 2007. After receiving all necessary clearances, the deal is anticipated to conclude in the second part of 2024. Read More..

B2B Tech News | 4 months ago        

Indias Eros Investments to Pour $1 Billion into Malaysias AI and Film Sectors

The digital ministry of Malaysia has announced that Eros Investments, an Indian company, and its Immerso AIIP business will invest $1 billion in Malay

The digital ministry of Malaysia has announced that Eros Investments, an Indian company, and its Immerso AIIP business will invest $1 billion in Malaysia to establish an artificial intelligence park and movie studio. Over the following five years, the proposed investment, which includes an AI university and data centre within the park, might create 5,000 jobs. With a significant commitment to developing both industries, the initiative seeks to strengthen Malaysias position in AI and film production. Read More..

B2B Tech News | 4 months ago        

National Stock Exchange of India Reapplies for IPO, Eyes $3.2 Billion Valuation Amid Market Boom

One of Indias most extensive initial public offerings IPOs, the National Stock Exchange of India NSE, has finally started its longdelayed public offer

One of Indias most extensive initial public offerings IPOs, the National Stock Exchange of India NSE, has finally started its longdelayed public offering process. Regarding volume, the Securities and Exchange Board of India SEBI has received a reapplication from NSE, the largest derivatives exchange globally, requesting a "noobjection" to move on with the IPO. NSEs initial goal was a 10% stake sale, which, based on its projected valuation of 2.7 trillion Indian rupees $32.18 billion, could have put the IPOs worth at about $3.2 billion. Existing shareholders, including significant organisations like the State Bank of India and Life Insurance Corporation of India, can sell their shares through the IPO. The June quarter earnings rise for NSE was 39% year over year, fuelled by a thriving options trading sector. Read More..

B2B Tech News | 4 months ago        

Scandinavian Airline SAS Emerges from Chapter 11 Bankruptcy After Restructuring $2 Billion in Debt

The Scandinavian airline SAS has successfully concluded its reorganisation and stepped out of the United States Chapter 11 bankruptcy. A US bankruptcy

The Scandinavian airline SAS has successfully concluded its reorganisation and stepped out of the United States Chapter 11 bankruptcy. A US bankruptcy judge accepted the airlines reorganisation plan in March, which included restructuring nearly $2 billion in debt and adjusting its aircraft fleet. A group including the Danish government, investment firm Lind Invest, Air FranceKLM, and hedge fund Castlelake invested $1.2 billion in the reorganisation. This transaction comprised $725 million in secured convertible debt and $475 million in new stock. Furthermore, SAS settled a pay dispute with its Norwegian cabin staff, ending a walkout that had caused flight disruptions. Read More..

B2B Tech News | 4 months ago        

IDC Upgrades 2024 Smartphone Shipment Forecast to 1.23 Billion Units, Driven by AI Features

In its most recent estimate, the research organisation IDC has raised its prediction for the number of smartphones shipped globally in 2024 from 4% to

In its most recent estimate, the research organisation IDC has raised its prediction for the number of smartphones shipped globally in 2024 from 4% to 5.8%, or 1.23 billion devices. Recovering consumer demand and the allure of new artificial intelligence AI features drove a robust first half of the year, reflected in this adjustment. According to IDC, one significant development is including generative artificial intelligence GenAI in cell phones, especially in higherend models. Over the year, shipments of GenAI phones are predicted to increase by 344%, accounting for 18% of the market. With businesses like Apple and Google incorporating AI into their newest gadgets to spur development and combat global sales slowdowns, particularly in China, this change is noteworthy given the challenging economic times. Read More..

B2B Tech News | 4 months ago        

Apple Teams Up with Airtel to Offer Free Streaming Services to Premium Customers

By collaborating with Airtel, an Indian telecommunications company, Apple will provide free music and movie streaming services to Airtels premium user

By collaborating with Airtel, an Indian telecommunications company, Apple will provide free music and movie streaming services to Airtels premium users, therefore increasing its market share in the fiercely competitive Indian entertainment sector. In a pricesensitive market dominated by competitors like Netflix, Amazon Prime Video, Disney+ Hotstar, and JioCinema, the agreement, which bundles Apple TV+ and Apple Music with premium Airtel WiFi and postpaid plans, attempts to draw in more consumers. Later this year, Apple services will be made available to Airtels premium users, replacing the Wynk music app that Airtel once offered. With over 281 million subscribers, Airtel is strategically lining up against Reliance Jios 489 million people. Read More..

B2B Tech News | 4 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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