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GLOBAL NEWS

Chat logs indicate that the absurd LockBit ransom was rejected by Royal Mail.

The whole transcript of the negotiations between the LockBit ransomware gang and Royal Mail, which is still experiencing issues as a result of the cyb

The whole transcript of the negotiations between the LockBit ransomware gang and Royal Mail, which is still experiencing issues as a result of the cyberattack from last month, has been made public. If the chat records are accurate, LockBit allegedly sought a $80 million ransom payment, which it estimated to be 0.5% of Royal Mails annual sales. The negotiator for Royal Mail appeared to inform LockBit that the company would not comply with the demand and that they had mistaken Royal Mail International with Royal Mail. As paying ransom demands does not lessen the danger to individuals, it is not required by data protection law, and it is not seen as a reasonable measure to secure data, the National Cyber Security Centre of the United Kingdom has cautioned enterprises against doing so. Read More..

B2B Tech News | 7 months ago      

Kenya’s fintech Power set to scale after $3M seed round.

The firm was founded in 2020 by Brian Dempsey, cofounder and CEO of Power Financial Wellness, to assist employees in accessing suitable and reasonable

The firm was founded in 2020 by Brian Dempsey, cofounder and CEO of Power Financial Wellness, to assist employees in accessing suitable and reasonable financial services. It currently has access to more than 40,000 workers in Kenya through 75 companies, 15% of whom have been able to serve. With the help of the $3 million in seed funding it received in a round that was coled by DOB Equity and included Bolt by QED Investors, Quona Capital, Zephyr Acorn, and Norrsken Accelerator, Power is currently expanding in Kenya and entering Zambia. Read More..

B2B Tech News | 7 months ago      

Pyxus International, Inc. the third quarter results for the fiscal year 2023.

The companys third quarter results, which show the companys outstanding global performance in spite of a dynamic and challenging crop year, are someth

The companys third quarter results, which show the companys outstanding global performance in spite of a dynamic and challenging crop year, are something that Pyxus president and CEO, Pieter Sikkel, is eager to discuss. Pyxus effectively navigated the current tobacco supply shortfall and met its purchase goals by utilising its global reach, which led to a rise of more than 50% in sales and other operational revenues year over year. Extra than $100 million more in cash flow from operations allowed the company to expand its financial flexibility. The company has increased its forecast for fiscal 2023 sales to be between $1.85 billion and $2.00 billion and adjusted EBITDA* to between $140 million and $155 million. The third quarter is anticipated to be the companys largest sales quarter of the fiscal year. Read More..

B2B Tech News | 7 months ago      

Optus activates 900 MHz low band spectrum, increasing the 5G coverage area by 20%.

Optus provided a demonstration of how carriers can design various network slices, each with unique performance traits and security guidelines, to supp

Optus provided a demonstration of how carriers can design various network slices, each with unique performance traits and security guidelines, to support various application kinds. In order to conduct more testing, they used endtoend dynamic slicing with an Android 13 Google Pixel Pro 6 Phone and Cradlepoint 5G routers at the WAN edge. With field tests, Ericsson and Optus also showed off high accuracy GNSS solutions for 5G. Because mobile signals travel significantly farther in the 900 MHz spectrum than in higher frequency bands, each base station can serve a larger customer base. Read More..

B2B Tech News | 7 months ago      

Nigerias Curacel raises money to support insurance offerings and grow in North Africa.

The last five years have seen doubledigit insurance growth in African nations, making them the secondfastest expanding insurance markets globally, aft

The last five years have seen doubledigit insurance growth in African nations, making them the secondfastest expanding insurance markets globally, after Latin America. In order to provide the rails to make insurance work for the next billion Africans, Curacel, a Nigeriabased platform that intends to increase insurance penetration in emerging countries, has acquired $3 million in seed funding. With only human intervention needed for quality control, Curacels new venture focuses on offering technology to insurers to help them reduce losses while digitising and resolving more legitimate claims. To improve inclusiveness and acceptance on the continent, the YCbacked startup is unbundling insurance products for a number of enterprises, and its technology supports distribution and claims automation. Read More..

B2B Tech News | 7 months ago      

Lidar manufacturer Hesai succeeds in raising $190 million in its IPO amidst merger and bankruptcy in the West.

In a period of industry uncertainty, Chinas Hesai raised an expanded IPO last week in the United States. The business, which has offices in Shanghai a

In a period of industry uncertainty, Chinas Hesai raised an expanded IPO last week in the United States. The business, which has offices in Shanghai and California and develops the sensing technology essential to driver assistance systems and autonomous vehicles, raised $190 million through its Nasdaq IPO. Hesai had originally planned to go public two years prior, but its proposal to list on Chinas STAR board, which is modelled after Nasdaq, was granted in January 2021 when it wanted to raise more than 200 million yuan $30 million at a 10 billion yuan valuation. Despite its optimistic IPO, the company still has to overcome obstacles, as it said in its IPO prospectus. Due to its position between two superpowers, Hesai is not immune to the effects of geopolitics. Read More..

B2B Tech News | 7 months ago      

Dispute Settlement Reform is a Priority, according to the WTO Director General.

Ngozi OkonjoIweala, the director general of the World Trade Organization, declared on Monday that modernising the organizations dispute resolution sys

Ngozi OkonjoIweala, the director general of the World Trade Organization, declared on Monday that modernising the organizations dispute resolution system is a priority for her term, which expires in 2025. Due to obstructions of adjudicator appointments during the Trump administration, the WTOs trade dispute arbitration mechanism has remained inactive for two years. The third round of negotiations between the United States and other nations to change the system will begin soon, with the goal of having it fully operational by the end of 2024. Read More..

B2B Tech News | 7 months ago      

Traders are alarmed by Lulas criticism of the Brazilian central bank.

The banks 3.25 percent inflation objective infuriates Lula, who claims it is too low by Brazilian standards. Lula thinks the bank is hurting the overa

The banks 3.25 percent inflation objective infuriates Lula, who claims it is too low by Brazilian standards. Lula thinks the bank is hurting the overall economy by delaying the reduction of rates, which are currently at 13.75 percent. Lets create use of the sharing options that are available through the share button located at the top or side of articles. However, his criticism of Campos Neto, a technocrat who is widely regarded, has already caused the market to tremble and investors to raise their inflation predictions. Future interest rates will increase, the dollar will weaken, and the stock market will drop. Read More..

B2B Tech News | 7 months ago