Header-template

 Global News

Subscribe our Newsletter

Subscribe to our mailing list to get the latest updates straight in your inbox.

GLOBAL NEWS

Samsung Races to Develop AI Training Tools to Compete with SK Hynix

Samsung Electronics exceeded profit expectations in the third quarter and anticipates a semiconductor market recovery in the next year. Net income dro

Samsung Electronics exceeded profit expectations in the third quarter and anticipates a semiconductor market recovery in the next year. Net income dropped 40% to 5.5 trillion won $4.1 billion in the September quarter, outperforming analyst estimates of 2.52 trillion won. This marks an improvement from the 86% decline in the previous quarter. The memory chip market, valued at $160 billion, faced challenges due to reduced demand for smartphones and PCs, impacting Samsung and competitor SK Hynix. Lower chip prices and reduced investments in new capacity by chipmakers contributed to this. Samsung expects memory chip prices to rise in the fourth quarter and predicts growing demand driven by artificial intelligence applications. Read More..

B2B Tech News | 1 months ago      

UK Retailers Risk Survival as Annual IT Investment Gap Hits £22 Billion

The retail industry is facing a significant annual technology investment gap that could exceed £22 billion, posing a threat to both shortterm retail

The retail industry is facing a significant annual technology investment gap that could exceed £22 billion, posing a threat to both shortterm retail performance and longterm survival, according to the KPMG/RetailNext Think Tank RTT. The think tank recommends that multichannel retailers allocate 48% of their annual revenue to technology, but most currently only invest 1.53%. With retail revenues projected at £441 billion in 2022, this could result in an investment gap of over £22 billion. The RTT warns that underinvestment in technology is happening at a time when the retail sectors viability is being questioned. Retailers failing to adapt may face business closure. Read More..

B2B Tech News | 1 months ago      

AIpowered Sprout.ai Aims to Transform Global Insurance Claims Handling

Sprout.ai, a startup using generative artificial intelligence for insurance claims, has raised £5.4 million in its latest funding round. The companys

Sprout.ai, a startup using generative artificial intelligence for insurance claims, has raised £5.4 million in its latest funding round. The companys AI technology automates the claims process, reducing handling costs by 50%. The funding will be used to expand globally, particularly in North America, and develop its AI technology for claims assessment. The funding round was led by Amadeus Capital Partners and Praetura Ventures, with participation from Octopus Ventures, Playfair, Techstars, and others. Sprout.ais goal is to bring automation and efficiency to the global insurance claimhandling market. Read More..

B2B Tech News | 1 months ago      

MCUs Transformed into Realtime Data Processing Platforms with ITTIA DB IoT

ITTIA DB IoT, a part of the ITTIA DB embeddable database family, enhances microcontroller MCU devices with advanced database and stream processing cap

ITTIA DB IoT, a part of the ITTIA DB embeddable database family, enhances microcontroller MCU devices with advanced database and stream processing capabilities. This new release empowers MCU applications to swiftly process, aggregate, detect anomalies, store, and make decisions based on data. Original equipment manufacturers OEMs creating gateway devices, industrial systems, medical devices, wearables, and embedded products can integrate ITTIA DB IoT for realtime data monitoring, storage, and management. ITTIA DB IoTs architecture is customizable, allowing embedded developers to choose realtime data streaming, time series management, and table data storage based on their specific needs. Read More..

B2B Tech News | 1 months ago      

Shareholders Face Choices as Broadcoms VMware Deal Nears Closing

Broadcom expects its $61 billion acquisition of VMware to close before the November deadline, reassuring investors despite concerns about Chinas revie

Broadcom expects its $61 billion acquisition of VMware to close before the November deadline, reassuring investors despite concerns about Chinas review process. While they didnt reveal the status of Chinese regulatory approval, both companies confirmed no legal barriers under U.S. merger regulations. The deal could be terminated if regulatory approval isnt obtained in time, resulting in a $1.5 billion termination fee for Broadcom. The merger has received clearance in several countries but faces potential delays due to tightening U.S. chip sanctions in China. VMwares premarket trading price was $147, and shareholders can choose between $142.50 in cash or 0.252 shares of Broadcom stock per VMware share. Broadcom shares closed at $838.36. Read More..

B2B Tech News | 1 months ago      

Metas Legal Woes Continue South Korean Court Finds User Consent Lacking

Meta Platforms Ireland, formerly Facebook, lost a legal battle in South Korea over a $5.78 million fine imposed by the Data Protection Commission. The

Meta Platforms Ireland, formerly Facebook, lost a legal battle in South Korea over a $5.78 million fine imposed by the Data Protection Commission. The fine resulted from the unauthorized sharing of personal information of over 3.3 million South Korean Facebook users with third parties between 2012 and 2018. Meta claimed the sharing was consensual, but the court ruled against them, stating users werent adequately informed, and the company unjustly benefited. Additionally, the investigation found that information about a users Facebook friends was shared without consent when users accessed other services through Facebook login. Meta was also accused of hindering the investigation by providing late and false information. Read More..

B2B Tech News | 1 months ago      

BYD Outperforms Tesla in Stock Market Is a Shift in the EV Landscape Underway?

BYD Co. is rapidly closing the gap with Tesla Inc. to become the leading seller of pure electric vehicles globally. Strong profits underscore BYDs sal

BYD Co. is rapidly closing the gap with Tesla Inc. to become the leading seller of pure electric vehicles globally. Strong profits underscore BYDs sales prowess despite heightened competition in China. While Teslas stock has seen a 17% decline this month, BYDs Hong Konglisted shares have increased by about 1%. Although Teslas stock has grown more than twice as much as BYDs this year, there are signs of further progress for BYD. Investors are expressing interest in optimistic options for BYD, and analysts have raised their earnings predictions to a record high for the Chinese company after its preliminary quarterly report. Read More..

B2B Tech News | 1 months ago      

Middle East War Threatens to Send Crude Oil Prices into Uncharted Waters

The World Bank has issued a warning that if the IsraelHamas conflict escalates to a fullscale Middle East war like the one 50 years ago, oil prices co

The World Bank has issued a warning that if the IsraelHamas conflict escalates to a fullscale Middle East war like the one 50 years ago, oil prices could reach a record high of over $150 per barrel. This could be caused by supply shortages similar to the 1973 Arab oil boycott, raising the price of a barrel of oil from around $90 to a range of $140 to $157. Such an escalation could result in a dual energy shock, affecting the global economy not only due to the war in Ukraine but also from the Middle East conflict. The consequences could extend to higher food prices, potentially leading to widespread hunger. Read More..

B2B Tech News | 1 months ago