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China Forgives Zimbabwes Loans, Pledges Debt Assistance Amid Economic Crisis

China has promised to help Zimbabwe resolve its financial issue and has forgiven unspecified amounts of the countrys interestfree loans. Ambassador Zh

China has promised to help Zimbabwe resolve its financial issue and has forgiven unspecified amounts of the countrys interestfree loans. Ambassador Zhou Ding underlined Chinas determination to resolve Zimbabwes debt problems, given that the nation is struggling with an astounding $17.7 billion in publicly guaranteed debt, most of which is owing to foreign parties, most notably China. Critics warn that Beijing is gaining political power while the US is losing ground in Africa due to Chinas efforts, which might prolong the debt trap. Reintroducing its currency for the third time in ten years, Zimbabwe, beset by severe drought and mounting debt, hopes to ease the financial load on its people as sufferings mount. Read More..

B2B Tech News | 2 months ago      

Macquarie Bank Fined A$10 Million for Allowing Unauthorized Fee Transactions

The Federal Court of Australia fined Macquarie Bank A$10 million $6.4 million for failing to stop third parties from making unauthorized fee transacti

The Federal Court of Australia fined Macquarie Bank A$10 million $6.4 million for failing to stop third parties from making unauthorized fee transactions on its customers accounts. Macquarie granted different authorization levels to other parties, such as financial advisors. From May 2016 to January 2020, the bank did not check if transactions were for fees, even though it offered a platform for bulk transacting. Due to this oversight, financial advisor Ross Hopkins could stealthily take around A$2.9 million from his customers accounts without being caught. The banks parent business, Macquarie Group, committed to paying the penalties and compensating the impacted clients. ASIC Chair Joe Longo emphasized that the fraudulent actions resulted from Macquaries violation of statutory responsibilities. Read More..

B2B Tech News | 2 months ago      

Infosys Shares Drop 2.9% on Disappointing Annual Revenue Outlook

Shares of Infosys fell as much as 2.9% after the firm predicted yearly revenue lower than anticipated, raising concerns about the early prospects for

Shares of Infosys fell as much as 2.9% after the firm predicted yearly revenue lower than anticipated, raising concerns about the early prospects for the industrys revival. With a fall of 8% this year, Infosys has seen the worst performance among big Indian IT corporations. As of 0919 a.m. IST, it was trading at 1,390 rupees, its lowest level since November 2023. The Nifty IT services index fell 5.7%, whereas Tata Consultancy Services increased 2.3%. Infosyss Q4 results and outlook disappointed analysts, who raised worries about reduced demand, business leakages, and stagnant sectors. Due to concerns with growth predictability, some analysts lowered their target price for Infosys, which led to downgrades in outlooks for the companys next two fiscal years. Read More..

B2B Tech News | 2 months ago      

Bitcoin Plummets Below $60,000 as Israeli Missile Strike on Iran Spurs Market Jitters

On Friday, cryptocurrencies saw sharp decreases amid predictions of an Israeli missile strike on Iran, bitcoin fell below $60,000. Bitcoin dropped mor

On Friday, cryptocurrencies saw sharp decreases amid predictions of an Israeli missile strike on Iran, bitcoin fell below $60,000. Bitcoin dropped more than 5.5% to $59,961, while Ether dropped as well, going from $3,050 to $2,895. According to reports, Israel launched the airstrike in retaliation for an Iranian drone strike. After rising on the news, safehaven assets such as Treasuries, gold, and oil eventually fell from their highs. As investors waited for further information and evaluated the possibility of reprisal, the market attitude changed to flight to safety. Just hours before its "halving" incident, Bitcoin rebounded to $62,300, down 2% for the day. Read More..

B2B Tech News | 2 months ago      

Cisco Unveils Cisco Hypershield The Future of Data Center and Cloud Security

As the demands on IT infrastructure increase due to the AI revolution, Cisco has responded by introducing a groundbreaking security solution called Ci

As the demands on IT infrastructure increase due to the AI revolution, Cisco has responded by introducing a groundbreaking security solution called Cisco Hypershield. Hypershield uses AI to safeguard apps, devices, and data in various settings, altogether redefining data centre and cloud security. With its AInative, cloudnative, and hyperdistributed design, this cuttingedge architecture provides multilayered autonomous security enforcement. It tackles crucial issues, including autonomous segmentation, selfqualifying updates, and distributed exploit prevention while protecting against advanced attacks. Cisco hopes to empower defenders with Hypershield, an unprecedented security solution for contemporary, AIscale data centres that instantly shields vulnerabilities from exploitation. Read More..

B2B Tech News | 2 months ago      

Intel Unveils Hala Point Worlds Largest Neuromorphic System for AI Research

A significant advancement in AI research has been made with the unveiling of "Hala Point," the most extensive neuromorphic system in the world, by Int

A significant advancement in AI research has been made with the unveiling of "Hala Point," the most extensive neuromorphic system in the world, by Intel at Sandia National Laboratories, with over ten times the neuron capacity and up to 12 times faster than Intels Loihi 2 CPU powers earlier systems like Pohoiki Springs, Hala Point. This breakthrough combines braininspired learning capabilities with deep learning efficiency to meet the growing computational expenses of AI models. Hala Point surpasses 15 trillion operations per second per watt, matching or exceeding GPU and CPU designs in computing efficiency. Hala Point paves the way for revolutionary developments in the application of AI, with applications ranging from scientific research to logistics and smart city infrastructure management. Read More..

B2B Tech News | 2 months ago      

Meta AI Expands WhatsApp Capabilities with Image and Video Generation Feature

With the launch of this new function, Meta AI is expanding its capabilities across several nations on WhatsApp by allowing users to create photos and

With the launch of this new function, Meta AI is expanding its capabilities across several nations on WhatsApp by allowing users to create photos and movies straight within chats. It is still under testing, though the function is only available to a small number of customers in India. Using the most recent Llama 3 model, users may describe scenes or concepts, and the AI will visualise them as they write. This results in realtime picture and video production. In contrast to others, this method enables ongoing improvement as users provide more information. Meta welcomes user input to make improvements even better. With the launch of Llama 3, Meta hopes to improve its AI portfolio and establish itself as a frontrunner among alternatives available for free. Read More..

B2B Tech News | 2 months ago      

Google Plans AI Team Consolidation Across Research and DeepMind Divisions

Google, an Alphabet company, stated on Thursday that it will strengthen its artificial intelligence portfolio by combining teams from its Research and

Google, an Alphabet company, stated on Thursday that it will strengthen its artificial intelligence portfolio by combining teams from its Research and DeepMind divisions dedicated to developing AI models. The Responsible AI teams will move from Research to DeepMind, putting them in closer proximity to the creation and scalability of AI models. Their concentration is on safe AI development. This action is in line with requests for technology regulation and the growing concern over AI safety on a worldwide scale. Google paused its picturegenerating capabilities after DeepMind, wellknown for its contributions to Googles sophisticated AI model Gemini, came under fire for prior imagegeneration errors. Despite recent layoffs and budget cuts, Google is investing in AI and automation, with CEO Sundar Pichai announcing plans to offer a series of AI models in 2024. Read More..

B2B Tech News | 2 months ago