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Westpac Banking Corp Forecasts Potential Monetary Policy Easing in Australia

Westpac Banking Corp WBC.AX believes that monetary policy in Australia may be eased in the coming year as the countrys economy continues to grow despi

Westpac Banking Corp WBC.AX believes that monetary policy in Australia may be eased in the coming year as the countrys economy continues to grow despite the central banks attempts to control inflation. CEO Peter King stated that a less stringent monetary policy may be possible due to the slowing economy and declining inflationary pressures. The bank reported an unaudited net profit for the first quarter of A$1.5 billion $978.60 million, 6% less than the quarterly average for the previous six months. The bank attributed the reduction to noteworthy items associated with hedge accounting. As demonstrated by its standard equity tier 1 ratio, which stood at 12.3% at Decembers end, Westpac is committed to controlling credit quality and keeping a sound balance sheet despite obstacles, including exposure to the real estate market and growing interest rates. Read More..

B2B Tech News | 2 months ago      

Seven Group Holdings Offers A$1.9 Billion to Acquire Rest of Boral

The building materials group producer Boral BLD.AX has seen a bid of A$1.9 billion $1.24 billion from Australian diversified investor Seven Group Hold

The building materials group producer Boral BLD.AX has seen a bid of A$1.9 billion $1.24 billion from Australian diversified investor Seven Group Holdings SVW.AX, which currently controls approximately 72% of the company. The offer, which includes A$1.50 in cash and 0.1116 Seven Group shares, represents a minimum of A$6.05 per Boral share. It was made public on Monday. With this proposal, Boral is valued at A$6.67 billion $4.35 billion, 3.4% more than its most recent closing price. With Boral restructuring its companies to take advantage of rising government infrastructure programmes, Seven Groups action demonstrates confidence in Australias infrastructure investment boom. Following the announcement, shares of Boral increased 3.7%, while shares of Seven Group decreased 1%. Read More..

B2B Tech News | 2 months ago      

Super Micro Computer Inc SMCI.O Shares Plunge 20% After Record High

After hitting a record high earlier, Super Micro Computer Inc. SMCI.O shares sharply declined, plummeting 20% on Friday. The stock fell from a peak of

After hitting a record high earlier, Super Micro Computer Inc. SMCI.O shares sharply declined, plummeting 20% on Friday. The stock fell from a peak of $1,077.87 to $803.32 after the session, marking the worst oneday percentage decrease since August. Before this, the stock had increased for nine straight days. The fact that SMCI is still far higher than its closing price in 2023, despite this fall, suggests that it has made significant gains in the last year. The stock has received varying levels of analyst coverage. Wells Fargo began coverage with a $960 price target and an "equal weight" rating. At the same time, BofA Global Research offered the highest analyst rating of $1,040 with a buy target. Read More..

B2B Tech News | 2 months ago      

Nintendo Shares Fall 6% Amid Reports of NextGeneration Console Delay

After speculations surfaced suggesting that Nintendos nextgeneration system might not ship later this year but rather in early 2025, the companys stoc

After speculations surfaced suggesting that Nintendos nextgeneration system might not ship later this year but rather in early 2025, the companys stock saw a 6% fall. Although the Kyotobased gaming business has not made an official statement about its future hardware plans, it is widely assumed that it is getting ready to launch a replacement for its venerable Switch system. Despite this delay, Nintendo recently increased its fullyear sales projection for the Switch, highlighting its dedication to maintaining the momentum of its popular hybrid homeportable gadget. At an earnings briefing, Nintendo President Shuntaro Furukawa reiterated this pledge earlier this month. Read More..

B2B Tech News | 2 months ago      

IBM Global AI Adoption Index 2023 Key Findings on AI Deployment in Indian Enterprises

59% of big Indian organisations have actively used AI, while another 27% are investigating its potential applications, according to the IBM Global AI

59% of big Indian organisations have actively used AI, while another 27% are investigating its potential applications, according to the IBM Global AI Adoption Index 2023. Early adopters lead the way, with 74% of these businesses increasing their AI R&D and staff reskilling spending during the previous two years. However, obstacles like the skills gap and ethical reservations prevent AI from being widely used. Unlocking the full potential of AI requires addressing these obstacles, primarily by establishing robust AI governance frameworks and offering pertinent skills. Although the value of reliable AI is becoming more widely acknowledged, organisations still encounter challenges when putting important policies like minimising bias and guaranteeing explainability into practice. Nevertheless, projects centered on automation, improving customer service, and staff reskilling are already reshaping the workforce thanks to artificial intelligence. Read More..

B2B Tech News | 2 months ago      

Global Tech Firms Unite to Fight Deceptive AI Content in Elections

On Friday, a group of twenty internet firms said they are working together to stop this years global elections from being influenced by false artifici

On Friday, a group of twenty internet firms said they are working together to stop this years global elections from being influenced by false artificial intelligence material. Election integrity is at risk because of the possible abuse of generative AI, which quickly produces text, pictures, and videos. Announced at the Munich Security Conference, the tech pact is signed by companies such as OpenAI, Microsoft, and Adobe, in addition to major social media players like Meta Platforms, TikTok, and X formerly Twitter. The pact lays forth pledges to create instruments for identifying false information produced by artificial intelligence, educate the public about misleading media, and take action against false information on their platforms. Read More..

B2B Tech News | 2 months ago      

European Privacy Groups Urge Action Against Metas NoAds Subscription Service

A coalition of 28 organisations, including the Irish Council for Civil Liberties and privacy campaigner Max Schrems group NOYB, has called on Europes

A coalition of 28 organisations, including the Irish Council for Civil Liberties and privacy campaigner Max Schrems group NOYB, has called on Europes privacy regulators to block Meta Platforms noads subscription service, which was introduced in November. They contend that charging customers for privacy establishes an unsettling precedent that other businesses would follow. The European Data Protection Board EDPB is getting ready to release guidelines about the consent or pay model simultaneously with this appeal. In defence of its service, Meta claims it conforms with EU regulations. It allows consumers to choose between paying for an adfree experience or agreeing to data collecting for targeted adverts. Opponents caution that adopting a "pay or okay" approach may weaken safeguards against surveillance capitalism and violate GDPR. Read More..

B2B Tech News | 2 months ago      

Breakthrough at MIT New ID Tag Uses Terahertz Waves for Unprecedented Security

Massachusetts Institute of Technology MIT engineers have created a unique ID tag to determine an items validity accurately. This achievement was revea

Massachusetts Institute of Technology MIT engineers have created a unique ID tag to determine an items validity accurately. This achievement was revealed by MIT on Sunday, emphasising the reworking of an earlier cryptographic ID tag that included a security flaw. Unlike conventional RFIDs, the new antitampering ID tag still has the benefits of being compact, affordable, and secure. A chip may be used without a giant offchip antenna by using terahertz waves instead of radio waves, which are smaller and quicker. The tag uses machine learning to recognise unique glue pattern fingerprints with over 99% accuracy, detecting tampering. Despite transmission distance constraints, the MIT team plans to overcome these obstacles in subsequent versions. Read More..

B2B Tech News | 2 months ago