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GLOBAL NEWS

Bain Capital Offers £1.1 Billion to Acquire UK Defence Firm Chemring

The shares of Londonlisted defence contractor Chemring Group saw a 16% increase after U.S. private equity firm Bain Capital proposed £1.1 billion $1.

The shares of Londonlisted defence contractor Chemring Group saw a 16% increase after U.S. private equity firm Bain Capital proposed £1.1 billion $1.39 to buy the company. Shares increased 13.7% to 407 pence at the offer of 390 pence per share, which is almost 9% more than the closing price on Friday. It is unknown whether Bains second offer was presented to Chemrings board, but Sky News reported that he had also prepared one. Neither Bain nor Chemring would comment. Among other defence goods, Chemring specialises in naval antiship missile defence systems. As concerns about global security deepen, the proposal underscores growing investor interest in the defence industry. Read More..

B2B Tech News | 1 months ago      

DFSA Recognizes USDC and EURC as Crypto Tokens, Expanding Dubai’s Digital Economy

USDC and EURC are now accepted as cryptocurrency tokens by Dubais Financial Services Authority DFSA, enabling businesses in the DIFC to use them for d

USDC and EURC are now accepted as cryptocurrency tokens by Dubais Financial Services Authority DFSA, enabling businesses in the DIFC to use them for digital asset services, treasury management, and payments. The approval allows for speedier crossborder transactions and smooth fiattocrypto conversions, avoiding traditional costs, for the more than 6,900 businesses in the DIFC. Calling it a stablecoin milestone, Circles Chief Strategy Officer Dante Disparte emphasised the transparency and compliance of USDC and EURC. Stablecoins are joining the list of cryptocurrencies that Dubai already recognises, along with Bitcoin, Ethereum, Litecoin, Toncoin, and Ripple. With Binance and Sony incorporating stablecoins into their Web3 operations, Circle, the secondlargest stablecoin issuer after Tether, has handled $18 trillion in USDC transactions since 2018. Read More..

B2B Tech News | 1 months ago      

S&P India, South Korea, Thailand Most at Risk from Potential Trump Tariffs

India, South Korea, and Thailand are the AsiaPacific economies most vulnerable to possible tariff hikes under US President Donald Trumps administratio

India, South Korea, and Thailand are the AsiaPacific economies most vulnerable to possible tariff hikes under US President Donald Trumps administration, according to S&P Global Ratings. According to the study, these countries have more significant weighted average tariffs on U.S. goods than the U.S. imposes on imports from these countries. As such, they are more vulnerable to retaliatory tariffs the United States imposes. Thailand, South Korea, Taiwan, and Vietnam may be most affected economically because of their high trade exposure to the U.S. market. India and Japan, on the other hand, have more domestically focused economies, which would provide some protection against these tariff effects. Read More..

B2B Tech News | 1 months ago      

Intuit’s AIDriven Tax and Finance Tools Fuel HigherThanExpected Q3 Forecast

TurboTaxs creator, Intuit, predicted higherthanexpected revenue for the third quarter due to robust demand for its artificial intelligence AIpowered f

TurboTaxs creator, Intuit, predicted higherthanexpected revenue for the third quarter due to robust demand for its artificial intelligence AIpowered financial software. Sales have increased due to the ongoing tax season in the United States, and CFO Sandeep Aujla is optimistic about the year. By automating financial management, Intuits AI assistant, Intuit Assist, is incorporated into its products, including TurboTax, Credit Karma, and QuickBooks. The business exceeded forecasts of $3.83 billion in revenue for the second quarter, reporting $3.96 billion. Its predicted earnings per share of $10.89–$10.95 was less than the forecasted $11.48, even though its Q3 revenue prediction of $7.55–$7.60 billion surpassed analysts forecasts. Despite last years layoffs, Intuit swiftly rehired and reiterated its fiscal 2025 outlook. Read More..

B2B Tech News | 1 months ago      

Telefónica Sells Argentina Unit for $1.245B Amid Latin America Exit Strategy

Telefónica, a Spanish telecom company, decreased its exposure to Latin America by selling its Argentina division to Telecom Argentina for $1.245 bill

Telefónica, a Spanish telecom company, decreased its exposure to Latin America by selling its Argentina division to Telecom Argentina for $1.245 billion. After the sale was finalised on Monday, President Javier Mileis office in Argentina expressed alarm over possible monopolisation, pointing out that the acquisition might give one company control over 70% of telecom services. The administration has promised to take action to stop this. Telefónica has been reducing its debt and investing in 5G by pulling out of Latin America. It recently filed for bankruptcy protection in Peru and is looking into selling in Mexico and Colombia. The acquisition will help Telecom Argentina increase its investments in fiberoptic and 5G networks. Read More..

B2B Tech News | 1 months ago      

PayPal Users Targeted in Scam Using Fake Purchase Alerts and Remote Access Tools

Using PayPals services, a sophisticated phishing scheme is tricking victims into giving hackers remote access to their devices. Emails from "service@p

Using PayPals services, a sophisticated phishing scheme is tricking victims into giving hackers remote access to their devices. Emails from "service@paypal.com" trick victims into thinking they have already purchased a MacBook M4 and instruct them to phone a specific number to cancel the order. Fake antivirus software, a remote access tool, is installed by fraudsters after they contact, giving hackers access to the victims computer so they may steal data. The scam sends false notifications by manipulating PayPals genuine "gift address" feature. Such emails should be ignored, and users should check their account information on PayPals website instead. Read More..

B2B Tech News | 1 months ago      

Anthropic Unveils Claude 3.7 Sonnet AI with Hybrid Reasoning and Faster Responses

The Claude 3.7 Sonnet AI model, developed by Anthropic, uses a hybrid reasoning technique to provide quicker answers and detailed explanations. Suppor

The Claude 3.7 Sonnet AI model, developed by Anthropic, uses a hybrid reasoning technique to provide quicker answers and detailed explanations. Supported by Google and Amazon, the model is accessible through all Claude plans, but only premium users can access its "extended thinking mode," which improves coding, math, and physics abilities. It is intended for realworld use and emphasises practical business applications more than theoretical problemsolving. Anthropic also introduced Claude Code, an agentic coding tool for developers. At $3 per million input tokens and $15 per million output tokens, the model substantially undercuts OpenAIs o1 model, which charges $15 and $60 per million tokens, respectively, despite its sophisticated capabilities. Read More..

B2B Tech News | 1 months ago      

Qualcomm Unveils Snapdragon X Platform in India for Affordable AI PCs

Qualcomms Snapdragon X platform has been introduced in India, which adds a new AIfocused chipset for Copilot+ PCs under $600 Rs. 52,000. A 4nm design,

Qualcomms Snapdragon X platform has been introduced in India, which adds a new AIfocused chipset for Copilot+ PCs under $600 Rs. 52,000. A 4nm design, an Adreno GPU with 1.7 TFLOPS, eight Oryon CPU cores with a maximum clock speed of 3GHz, and a Hexagon NPU with 45 TOPS AI capability are all features of the Snapdragon X126100. With support for up to 64GB LPDDR5x RAM, UFS 4.0 storage, and Windows 11, it also has 5G, WiFi 7, and lossless audio with Snapdragon Sound. Qualcomm maintains a multiday battery life with an optimised powerefficient architecture. This chipset, which is initially priced at Rs. 65,990 and comes with the Asus Zenbook A14 and Vivobook 16 Copilot+ PCs, is anticipated to be adopted by other OEMs shortly. Read More..

B2B Tech News | 1 months ago