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GLOBAL NEWS

Pakistans Caretaker Government Targets 10 State Entities for Revival

As part of its commitment to reforms under the International Monetary Fund IMF bailout, Pakistans caretaker government has designated ten enterprises

As part of its commitment to reforms under the International Monetary Fund IMF bailout, Pakistans caretaker government has designated ten enterprises for privatisation or turnaround attempts. It is taking steps to enhance governance in stateowned businesses. These stateowned enterprises SOEs have been suffering severe losses, which by 2020 would total about 500 billion rupees $1.74 billion. The government intends to install independent directors for SOEs through a nomination procedure to prevent ministries from giving them orders for better governance. The privatisation minister did, however, remark that only one bidder remains for Pakistan Steel Mills, citing factors like the need for steel worldwide. Pakistan is likewise looking towards outsourcing stateowned asset operations. Read More..

B2B Tech News | 2 days ago      

US Unemployment Claims Hit 8Month Low Amid Tight Labor Market

Despite sluggish job growth, the number of Americans filing new jobless claims hit an eightmonth low, indicating a strong labour market. The early Sep

Despite sluggish job growth, the number of Americans filing new jobless claims hit an eightmonth low, indicating a strong labour market. The early September jobless registers were the lowest since January, according to the Labour Departments data. This outcome came after the Federal Reserve decided to keep interest rates unchanged while taking a more hawkish attitude, indicating that rates would rise soon and that monetary policy would tighten through 2024. The economy is resilient even if there are worries about a future economic recession. However, the housing market is in trouble because of high mortgage rates and a lack of available homes, which affects current house sales and pricing. Likewise, manufacturing confronts difficulties. Read More..

B2B Tech News | 2 days ago      

Japanese Consortium Led by JIP Secures Majority Stake in Toshiba

A consortium led by Japan Industrial Partners JIP, a private equity firm, has acquired 78.65% of Toshiba through a tender offer, inching closer to the

A consortium led by Japan Industrial Partners JIP, a private equity firm, has acquired 78.65% of Toshiba through a tender offer, inching closer to the completion of a $14 billion deal to privatize the company. With this majority ownership, JIP can push out remaining shareholders, paving the way for Toshibas delisting, expected as early as December, marking the end of its 74year history as a publicly traded firm. The deal signifies a shift of Toshiba into domestic hands, following years of clashes with overseas activist shareholders. JIPs consortium includes around 20 Japanese firms, such as Orix and Rohm. Read More..

B2B Tech News | 2 days ago      

Cisco Dives into Cybersecurity with $28B Splunk Acquisition

With its $28 billion agreement to buy cybersecurity company Splunk, Cisco Systems has undertaken its largestever acquisition. The transaction intends

With its $28 billion agreement to buy cybersecurity company Splunk, Cisco Systems has undertaken its largestever acquisition. The transaction intends to strengthen Ciscos software division and take advantage of the development of artificial intelligence. The wellknown manufacturer of networking hardware, Cisco, aims to lessen its dependency on hardware. Splunk is an expert in data observability and helps businesses look for cybersecurity risks to their systems. Cisco anticipates that the purchase will hasten revenue growth and gross margin expansion. The merger, subject to regulatory clearance, despite concerns about antitrust scrutiny due to the overlap in the security industry, received unanimous authorisation from both boards and is expected to be completed by the end of Q3 2024. Read More..

B2B Tech News | 2 days ago      

ChatGPTPowered Secoda Gets $14M for Data Platform

Secoda, a Torontobased company, now has $16 million in capital after securing $14 million in a Series A investment round. With an emphasis on data sea

Secoda, a Torontobased company, now has $16 million in capital after securing $14 million in a Series A investment round. With an emphasis on data search, cataloguing, provenance, and documentation, the AIpowered platform aims to make business data available to all users, regardless of their level of technical expertise. It establishes connections with diverse organisational systems to provide a single data catalogue. Secodas ChatGPTbased assistant users can create documentation and submit natural language inquiries. The money will go towards platform development, including improvements to AI and the implementation of Secoda Monitoring, which will guarantee the accuracy of the data and the effectiveness of data teams operations. Read More..

B2B Tech News | 2 days ago      

Poland Investigates OpenAI Over GDPR Violations

In response to a complaint stating that OpenAIs ChatGPT chatbot violates European Union data protection regulations GDPR, Polands data authority is lo

In response to a complaint stating that OpenAIs ChatGPT chatbot violates European Union data protection regulations GDPR, Polands data authority is looking into the company supported by Microsoft. OpenAI should have rectified incorrect information produced by ChatGPT and not dodged questions about how they handled their processed personal data, as claimed in the complaint. A classaction complaint alleging claimed breaches of privacy laws against OpenAI was launched in San Francisco, prompting this inquiry. Microsoft and OpenAI are two tech companies sued for using personal information and copyrighted content for AI training. ChatGPT had amassed 100 million users two months after its inception, largely thanks to Microsofts significant funding. Read More..

B2B Tech News | 2 days ago      

Bing, Edge, and Microsoft 365 Get a Boost with Copilot Integration

Microsoft enhanced its products with cuttingedge technology by releasing a "unified" AI tool for Windows 11 called Copilot. Bing, the Edge web browser

Microsoft enhanced its products with cuttingedge technology by releasing a "unified" AI tool for Windows 11 called Copilot. Bing, the Edge web browser, and Microsoft 365 are all integrated with Copilot. On September 26, upgrades for Windows 11 will be released, and on November 1, the AI software will be for sale. Microsoft previously provided a sample of 365 Copilot, charging $30 per person monthly. DALLE 3 from OpenAI will be used in Bings search for picture creation. Microsoft is investing significantly in generative AI, taking on Apple and Alphabet as global industry leaders. Microsoft also unveiled a new Surface Hub and three laptops, underscoring its dedication to innovation. Read More..

B2B Tech News | 2 days ago      

NVIDIAs Growing Commitment to India Strikes Partnership with Infosys

NVIDIA has expanded its partnerships in India, teaming up with Infosys, an IT services company. This collaboration aims to enhance generative AI appli

NVIDIA has expanded its partnerships in India, teaming up with Infosys, an IT services company. This collaboration aims to enhance generative AI applications. NVIDIA will integrate its AI Enterprise ecosystem, comprising models, tools, runtimes, and GPU systems, into Infosys advanced AIdriven suite called Topaz. This integration will make it easier for Infosys customers to adopt generative AI in their operations. Infosys and NVIDIA are also working together on AI solutions for important sectors like 5G, cybersecurity, and clean energy transition, marking a significant tech industry development. Read More..

B2B Tech News | 3 days ago