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HSBC Reports $1.5 Billion in Cost Savings Amid Global Restructuring

The Financial Times reports that HSBC would report yearly cost savings of $1.5 billion due to its restructuring efforts. Since taking over in Septembe

The Financial Times reports that HSBC would report yearly cost savings of $1.5 billion due to its restructuring efforts. Since taking over in September 2024, the bank has reduced its dealmaking and corporate consulting activities in the West and increased its focus on Asia under CEO Georges Elhedery. In addition to closing its M&A and equity businesses in Europe and the Americas, HSBC has been pulling out of lowreturn consumer banking areas such as France, Greece, and Canada. In addition, the bank has reorganised its activities into four business lines wealth banking, corporate and institutional banking, Hong Kong, and the United Kingdom. Read More..

B2B Tech News | 8 months ago        

BitPanda Secures UK FCA Approval to Expand Crypto Services

The UKs Financial Conduct Authority FCA has granted Austriabased cryptocurrency exchange BitPanda a regulatory license to conduct business, thereby an

The UKs Financial Conduct Authority FCA has granted Austriabased cryptocurrency exchange BitPanda a regulatory license to conduct business, thereby antimoney laundering and counterterrorism funding regulations. BitPanda can now advertise by FCA regulations and provide services to UK investors thanks to this clearance. The exchange intends to launch cryptocurrencybased savings programs that let consumers schedule automated asset purchases. According to CEO Eric Demuth, BitPanda is getting ready to introduce its investment platform in the UK. BitPanda has also obtained MiCA registration in the EU and has more than six million users. In addition to significant companies like Coinbase obtaining UK regulatory permits, the FCA seeks to finalise the UKs crypto legislation by 2026 Read More..

B2B Tech News | 8 months ago        

Sudan Thanks Russia for Blocking UN Security Council Resolution

During a visit to Moscow, Sudanese Foreign Minister Ali Yousuf Ahmed AlSharif thanked Russia for standing in the way of a UN Security Council resoluti

During a visit to Moscow, Sudanese Foreign Minister Ali Yousuf Ahmed AlSharif thanked Russia for standing in the way of a UN Security Council resolution that would have authorised foreign interference in Sudan. Alongside Russian Foreign Minister Sergey Lavrov, AlSharif praised Russias assistance and reiterated Sudans opposition to foreign meddling. He underlined cooperation with Moscow in the interests of national sovereignty, peace, and stability. Sudan has been in constant crisis since President Omar alBashir was overthrown in 2019, and a military coup in 2021 made matters worse. Since 2023, the Rapid Support Forces RSF and Sudanese military have been engaged in combat, which has worsened the humanitarian situation by displacing millions of people and killing over 28,000 people. Read More..

B2B Tech News | 8 months ago        

RBI Confirms Cryptocurrency Discussion Paper in Progress

According to Reserve Bank of India RBI Governor Sanjay Malhotra, the Finance Ministry is working on a discussion paper on cryptocurrencies. It would p

According to Reserve Bank of India RBI Governor Sanjay Malhotra, the Finance Ministry is working on a discussion paper on cryptocurrencies. It would provide clarity on the future of the countrys virtual assets. Although the RBI continues to exercise caution and warn of possible financial and security threats, the Web3 industry is becoming alarmed by Indias protracted hesitation. According to cryptocurrency entrepreneurs, delays may result in a loss of talent and chances in the international market. The discussion paper, initially brought up in July 2024, intends to investigate legal ramifications and regulatory actions, with India reevaluating its position in light of changes in international policy. However, neither a regulatory framework nor a release date has been disclosed. Read More..

B2B Tech News | 8 months ago        

Ghana Faces $156M Budget Shortfall Amid USAID Funding Freeze

Countries worldwide are suffering due to the U.S. administrations attack on USAID Ghanas state budget is $156 million short. To fill the void caused b

Countries worldwide are suffering due to the U.S. administrations attack on USAID Ghanas state budget is $156 million short. To fill the void caused by the suspension of USAID initiatives, President John Mahama has assigned Finance Minister Cassiel Ato Forson the responsibility of locating alternate sources of money. Ghanas health and agricultural sectors have significantly benefited from US development assistance, which has helped to establish a sophisticated national HIV and STD surveillance system. Enhancing Ghanaian agricultural companies competitiveness in regional and international markets was another vital function of USAID. Concerns are raised over the sustainability of essential programs and Ghanas capacity to sustain advancement in these crucial areas in light of the abrupt loss of financing. Read More..

B2B Tech News | 8 months ago        

Elon Musk Offers $97.4 Billion to Acquire OpenAI’s Nonprofit Arm

Tensions with CEO Sam Altman increased when Elon Musks group offered $97.4 billion to buy OpenAIs nonprofit organisation. Musk cofounded OpenAI but de

Tensions with CEO Sam Altman increased when Elon Musks group offered $97.4 billion to buy OpenAIs nonprofit organisation. Musk cofounded OpenAI but departed before it gained popularity. In 2023, he founded xAI. His proposal argues that OpenAI should continue prioritising opensource and AI safety to avoid becoming a forprofit business. Altman quickly turned down the offer, joking about purchasing Twitter in its place. SoftBank is considering a $300 billion valuation investment round for OpenAI, previously valued at $157 billion. Musk may be able to finance the transaction through SpaceXbacked loans or the sale of Tesla stock, although this is still unknown. The offer might interfere with OpenAIs ability to raise money and make the board think about fiduciary duties in the face of regulatory scrutiny. Read More..

B2B Tech News | 8 months ago        

Bank of America Projects Record Net Interest Income for 2025

Holly ONeil, head of retail banking at Bank of America, projects a 6% to 7% growth in net interest income NII in 2025, setting a new record. She made

Holly ONeil, head of retail banking at Bank of America, projects a 6% to 7% growth in net interest income NII in 2025, setting a new record. She made this point when speaking at a UBS financial services conference, emphasising that consumer banking would be crucial to this growth. By the fourth quarter of 2025, NII—the gap between revenue from loans and deposits—should have increased to between $15.5 billion and $15.7 billion. This growth expectation strengthens the banks sound financial position by reflecting its confidence in higher interest rates and more loan activity. With the expected increase in NII, Bank of America would achieve a significant milestone and show its tenacity in a changing economic climate. Read More..

B2B Tech News | 8 months ago        

IndiaIsrael Trade Poised for Tenfold Growth, Says Piyush Goyal

IndiaIsrael bilateral commerce may tenfold over the next 12 to 13 years, according to Commerce Minister Piyush Goyal, who emphasised the expansion of

IndiaIsrael bilateral commerce may tenfold over the next 12 to 13 years, according to Commerce Minister Piyush Goyal, who emphasised the expansion of both parties investments. Between April and November 2024, Indias total trade was $2.36 billion, including $1.31 billion in exports to Israel down 62.14% YoY and $1.05 billion in imports down 25.16% YoY. As part of the Viksit Bharat vision, Goyal reiterated Indias goal to become a $30–35 trillion economy by 2047 at the IndiaIsrael Business Forum. He emphasised Indias zerotolerance policy against terrorism and its dedication to international peace and security while also highlighting the connection between India and Israel, which is founded on democracy, economic resilience, and technology. Read More..

B2B Tech News | 8 months ago        



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