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OpenAI Explores ForProfit Transition, Seeking Greater Investor Appeal

According to Bloomberg News, OpenAI, under the leadership of Sam Altman, is apparently in early talks to switch to a forprofit business model with the

According to Bloomberg News, OpenAI, under the leadership of Sam Altman, is apparently in early talks to switch to a forprofit business model with the California attorney generals office. Compared to its establishment as a nonprofit AI research lab in 2015, this possible change would be substantial, increasing its attractiveness to investors. The restructure intends to increase OpenAIs appeal in the cutthroat AI market, even though the nonprofit organisation would continue to exist and hold minority ownership in the new forprofit structure. This comes after a recent $6.6 billion investment round that could increase the companys worth to $157 billion, making it one of the most valuable private corporations in the world. Read More..

B2B Tech News | 9 months ago        

Mukesh Ambani Sets Sights on 2025 IPO for Reliance Jio, Valued Over $100 Billion

The telecom company Reliance Jio, which analysts estimate is worth over $100 billion, is the target of Indian billionaire Mukesh Ambanis 2025 initial

The telecom company Reliance Jio, which analysts estimate is worth over $100 billion, is the target of Indian billionaire Mukesh Ambanis 2025 initial public offering IPO. Significant financing, including $25 billion from investors including KKR and General Atlantic, preceded the IPO. Since Reliance Jio already has 479 million users and is Indias top telecom operator, Ambani is completing planning for its initial public offering IPO to provide a steady flow of income. Reliance Retails IPO is anticipated to be postponed past 2025 to solve internal operational issues within its extensive supermarket network. Reliance hopes that Jios IPO will beat Hyundai Indias most recent record of $3.3 billion, while Reliance Retail concentrates on enhancing its financial performance in the face of intensifying competition. Read More..

B2B Tech News | 9 months ago        

RBNZ Warns of Rising Unemployment and Economic Contraction in Latest Stability Report

In its most recent Financial Stability Report, the Reserve Bank of New Zealand RBNZ presented a bleak picture of the economy, emphasising a rise in un

In its most recent Financial Stability Report, the Reserve Bank of New Zealand RBNZ presented a bleak picture of the economy, emphasising a rise in unemployment and a halt in company investment because of financial issues. It saw a sharp drop in domestic economic activity, made worse by slow global growth and high interest rates, which decreased demand. Many households experience severe financial difficulties as unemployment rises, and firms report weak demand, reduced profitability, and ongoing cost pressures. The RBNZ has lowered the official cash rate by 75 basis points to fight inflation since August and anticipates an economic decline in the third quarter. Notwithstanding these difficulties, the RBNZ confirmed that banks are ready to handle any possible loan defaults and that New Zealands financial system is nonetheless robust. Read More..

B2B Tech News | 9 months ago        

RBA Maintains Interest Rate at 4.35%, Keeping Focus on Inflation Decline

At its November meeting, the Reserve Bank of Australia RBA maintained its interest rate at 4.35%, as the markets had generally anticipated. The bank s

At its November meeting, the Reserve Bank of Australia RBA maintained its interest rate at 4.35%, as the markets had generally anticipated. The bank stressed that its policy would continue to be restrictive unless core inflation began to drop. Because of government power rebates, headline inflation fell to 2.8%, but underlying inflation was persistently high at 3.5%. According to RBA projections, underlying inflation will not return to the target range of 23% until 2026, and it will only marginally decline to 3.4% by years end. According to forecasts, the firstrate drop may not happen until mid2025, despite a robust labour market that recorded employment gains of 3.1% on average. Read More..

B2B Tech News | 9 months ago        

Fintech Consortium Launches USDG Stablecoin, Aiming to Transform Cryptocurrency Landscape

Through the Global Dollar Network, a group of fintech and cryptocurrency companies, including Galaxy Digital, Kraken, and Robinhood, introduced a new

Through the Global Dollar Network, a group of fintech and cryptocurrency companies, including Galaxy Digital, Kraken, and Robinhood, introduced a new stablecoin called USDG based on the US dollar. This project aims to give its partners financial advantages while hastening the adoption of stablecoins. Stablecoins are essential for converting cryptocurrencies into fiat money to safeguard customers from volatility since they keep a constant value. With Tether and USD Coin controlling roughly 90% of the market, USDG, which a consortium committee oversees, will compete in this market. Charles Cascarilla, CEO of Paxos, emphasised that the network is available to anybody and would give back the majority of benefits to users, encouraging the use of stablecoins worldwide and the social acceptance of this technology. Read More..

B2B Tech News | 9 months ago        

Stonepeak in Advanced Talks to Acquire Air Transport Services Group for $3.1 Billion

Stonepeak is in advanced talks to pay around $3.1 billion, including debt, to purchase Air Transport Services Group ATSG.O, a business specialising in

Stonepeak is in advanced talks to pay around $3.1 billion, including debt, to purchase Air Transport Services Group ATSG.O, a business specialising in cargo transportation and aircraft leasing. The investment group located in New York is anticipated to offer $22.50 per share, representing an almost 30% premium over ATSGs Friday closing price. If it works, an announcement may be made as early as Monday. The growing demand for air freight from internet merchants has made ATSG more appealing. The company has 134 aircraft in its fleet and offers maintenance services. Despite a pretax loss and an 8% drop in revenue to $488 million for the quarter that ended on June 30, the firm expects demand to rebound in the upcoming months. Read More..

B2B Tech News | 9 months ago        

Westpac Reports A$6.99 Billion Profit, Down 3%, But Surpasses Analyst Expectations

Despite a higher loan margin, Westpac WBC.AX, Australias secondlargest mortgage lender, reported a 3% drop in annual profit to A$6.99 billion $4.61 bi

Despite a higher loan margin, Westpac WBC.AX, Australias secondlargest mortgage lender, reported a 3% drop in annual profit to A$6.99 billion $4.61 billion for the year ended September 30. Notwithstanding this decline, the earnings exceeded the A$6.50 billion experts had predicted. Despite intense mortgage competition, the banks net interest margin increased from 1.89% to 1.97%. Software updates and inflationary pressures caused a 7% increase in operating expenses. Westpac declared a fresh A$1 billion $660 million share purchase and increased its final dividend from 72 to 76 Australian cents per share. In February, the Reserve Bank of Australia is expected to lower interest rates, making it easier for borrowers to service their loans. Read More..

B2B Tech News | 9 months ago        

South Africa Revises Budget Forecast, Projects Increased Deficits and Debt Amid Growth Hopes

Despite an improved energy supply that suggests more robust development prospects, the South African government has altered its budget estimate, predi

Despite an improved energy supply that suggests more robust development prospects, the South African government has altered its budget estimate, predicting more enormous deficits and debt over the next three years. In its first budget review since establishing a coalition, the National Treasury increased its forecast of the national production deficit from 4.5% to 5.0% for the fiscal year ending March 2025. The deficit is predicted to increase from 3.7% of GDP to 4.3% the following year. Declines in gasoline and import taxes are putting strain on revenue collection, which is why the rand is depreciating. With an emphasis on luring private sector investment in infrastructure, the government expects economic growth of 1.1% this year and 1.7% by 2025, with debt stabilising at 75.5% of GDP by 2025–2026. Read More..

B2B Tech News | 9 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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