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Vistaras Capacity Reduction Sparks Surge in Airfares, Up by 2025% on Major Routes

According to The Indian Express, Vistaras decision to cut back on operations by lowering 25–30 flights per day, or 10% of its operational capacity,

According to The Indian Express, Vistaras decision to cut back on operations by lowering 25–30 flights per day, or 10% of its operational capacity, has resulted in a notable increase in airfares of 20–25% on essential routes. This capacity reduction coincides with high ticket prices and unanticipated pilot reports of illness at the end of March, which resulted in over 150 flight cancellations since April 1. Fares on the impacted routes will likely be further impacted by the capacity reduction, which is anticipated to last until at least the end of April. In addition, worries over Vistaras planned merger with Air India have surfaced in the wake of significant flight delays and demonstrations against a proposed wage reform. Vistara has introduced a new salary arrangement for pilots, offering fixed pay for flying hours and additional compensation based on service tenure amid the merger process. Read More..

B2B Tech News | 1 months ago      

Samsung Electronics Block Sale 5.25 Million Shares Sold for $326 Million

In a block sale, 5.25 million shares of Samsung Electronics were sold for a total estimated value of 441 billion won $326 million, according to two un

In a block sale, 5.25 million shares of Samsung Electronics were sold for a total estimated value of 441 billion won $326 million, according to two unnamed persons who were aware of the situation on Tuesday. The price per share was 84,100 won, 0.47% less than the closing price of 84,500 won the day before. Though it hasnt been verified, rumours say that the seller could be Lee Boojin, the sister of Samsung Electronics Chairman Jay Y. Lee. Following the death of Samsung patriarch Lee Kunhee in 2020, Lee Boojin, her mother, and her sister sold a part of the company to satisfy inheritance tax requirements. That block sale occurred in January of last year. So far this year, block trades in South Korea have totalled $4.2 billion, surpassing volumes from the same period in the past five years, according to Dealogic data. Read More..

B2B Tech News | 1 months ago      

South Koreas President Unveils $6.94 Billion AI Investment to Boost Semiconductor Sector

President Yoon Suk Yeol proposed a 9.4 trillion won $6.94 billion investment in artificial intelligence to strengthen South Koreas leadership in semic

President Yoon Suk Yeol proposed a 9.4 trillion won $6.94 billion investment in artificial intelligence to strengthen South Koreas leadership in semiconductor chips by 2027. This project intends to compete with countries like the United States, China, and Japan to build semiconductor supply chains. It includes a 1.4 trillion won fund for AI semiconductor manufacturers. Yoon called the current semiconductor competition an "industrial war" and underlined the need for significant research and development in artificial intelligence AI chips, such as neural processing units NPUs and highbandwidth memory chips, given the critical role that semiconductors play in South Koreas exportdriven economy. Yoon hopes to see South Korea rise to the top three in AI technology and capture 10% of the world market for system semiconductors by 2030. Read More..

B2B Tech News | 1 months ago      

HSBC Sells Argentina Business to Grupo Financiero Galicia for $550 Million

HSBC Holdings reported a $1 billion pretax loss in the first quarter of fiscal 2024 due to selling its Argentina division to Grupo Financiero Galicia

HSBC Holdings reported a $1 billion pretax loss in the first quarter of fiscal 2024 due to selling its Argentina division to Grupo Financiero Galicia for $550 million. This action is consistent with HSBCs Asia pivot plan, which focuses on Asia, especially China and India. The banking, asset management, insurance, and $100 million in subordinated debt are all included in the Argentina business. Noel Quinn, the chief executive of HSBC Group, emphasised the transactions significance in carrying out their plan while highlighting HSBC Argentinas restricted access to their global network. This divestment comes after HSBCs recent withdrawals from several industries and nations, including France and Canada. Read More..

B2B Tech News | 1 months ago      

Enhanced Convenience Find My Device App Integrates Bluetooth Tags for Item Tracking

With its array of capabilities, the new Find My Device app provides improved security and convenience. 1. Offline Device Tracking Use the unique t

With its array of capabilities, the new Find My Device app provides improved security and convenience. 1. Offline Device Tracking Use the unique technology of the Pixel 8 and 8 Pro to track the position of your devices, even when they are off the grid or running on a low battery. 2. Bluetooth Tag Integration Use reputable brands like Chipolo and Pebblebee to track commonplace objects like wallets and keys. Support for more brands will be added shortly. 3. "Find Nearby" Button This feature makes it easy to find nearby products quickly with a single press, especially in an emergency. 4. Integration with Nest gadgets This feature makes it easier to find often missing goods by pinpointing lost gadgets close to home Nest devices. 5. Accessory Sharing Work together with friends and family to share accessories so that you can track them together and be ready for any misplacements. Read More..

B2B Tech News | 1 months ago      

Elon Musk Forecasts AI Surpassing Human Intelligence by 2026

Elon Musk, the CEO of Tesla, forecasted that by 2026 or as early as next year, AI will be more intelligent than the most intelligent human might be cr

Elon Musk, the CEO of Tesla, forecasted that by 2026 or as early as next year, AI will be more intelligent than the most intelligent human might be created. In an interview, Musk talked about how the availability of power restricts the development of AI and how his xAI business, Grok 2, trained its model. By pointing out that training the Grok 2 model required 20,000 Nvidia H100 GPUs and that further models would require even more chips, he brought attention to the problem of chip shortages. Regarding the current union action against Tesla in Sweden, Musk discussed the competitive challenge Chinese automakers offer Tesla in the electric vehicle industry and expressed optimism about the situation. Read More..

B2B Tech News | 1 months ago      

B Riley Financial Subsidiary Targus International Discloses Unauthorized Access Incident

B Riley Financial revealed that on April 5, a threat actor gained unauthorised access to specific file systems at Targus International and its affilia

B Riley Financial revealed that on April 5, a threat actor gained unauthorised access to specific file systems at Targus International and its affiliates, which are indirect subsidiaries of the investment bank. The situation has been confined, recovery efforts are underway, and investigations are ongoing. Even though the intrusion momentarily hampered Targus commercial activities, B Riley said in a regulatory filing that it does not currently foresee a significant impact on its financial position. The Los Angelesbased business is still keeping a careful eye on things. At the same time, it attempts to deal with the fallout from the security incident. Read More..

B2B Tech News | 1 months ago      

Microsofts New AI Hub in London Led by Google DeepMind Cofounder Signals Strategic Investment

Microsoft has signalled its strategic commitment to AI product development and research by introducing a new artificial intelligence facility in Londo

Microsoft has signalled its strategic commitment to AI product development and research by introducing a new artificial intelligence facility in London, headed by Mustafa Suleyman, cofounder of Google DeepMind. As the principal sponsor of OpenAI, Microsoft hopes to keep up its position as the industry leader in AI even as competition for talent in Europe heats up. This action is in line with Britains ambitions to bolster its standing as a technological powerhouse after holding the worlds firstever summit on AI safety. Microsofts pledge to spend £2.5 billion $3.16 billion in data centre infrastructure and AI skills development in Britain highlights its commitment to promoting innovation and economic growth in the area, even though the precise number of jobs generated is yet unknown. Suleyman highlighted the UKs commitment to advancing AI responsibly, emphasizing collaboration between government, businesses, and academia to drive investment and innovation. Read More..

B2B Tech News | 1 months ago