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Julius Baer Reports 15% Profit Drop in H1 2024 Amid CEO Change and Loan Losses

The first half of 2024 saw a 15% decline in earnings for Swiss private bank Julius Baer. Adjusted net profit dropped from 541 million francs in the pr

The first half of 2024 saw a 15% decline in earnings for Swiss private bank Julius Baer. Adjusted net profit dropped from 541 million francs in the previous year to 459.7 million Swiss francs $520.79 million, below analyst projections of 490 million francs. The banks substantial losses from loans to the nowinsolvent Signa Group, its most significant client un the private debt market, led to the resignation of CEO Philipp Rickenbacher and this collapse. Notwithstanding these obstacles, Julius Baer brought in 3.7 billion francs in net new money, more than the 3.5 billion francs anticipated but less than the 7.1 billion francs recorded the previous year. The bank has named Stefan Bollinger, a partner at Goldman Sachs, as its next CEO. Read More..

B2B Tech News | 3 months ago      

Google Chrome Upgrades Download Security with New Warning Features

With new additions, Google is improving the security of Chrome downloads by adding comprehensive alerts for potentially dangerous files. The revised m

With new additions, Google is improving the security of Chrome downloads by adding comprehensive alerts for potentially dangerous files. The revised method adds a twotier warning taxonomy that uses different images and colours to classify downloads as "Dangerous" or "Suspicious" to increase user awareness. Better yet, customers who choose the Enhanced Protection option will also gain from automated deep scans of downloads, which removes the requirement for userinitiated alerts. Users may now utilise Safe Browsing to complete a scan of passwordprotected archives after entering the password. Files and passwords are then erased. The metadata is examined while files are kept on the device under Standard Protection mode. These upgrades aim to provide more explicit notifications and enhanced security for downloaded files. Read More..

B2B Tech News | 3 months ago      

Hacker Claims Data Breach at Piramal Group, Personal Information at Risk

An Indian company called Piramal Group is said to have had sensitive data taken by a hacker. There are reports that the hacked material, sold on the d

An Indian company called Piramal Group is said to have had sensitive data taken by a hacker. There are reports that the hacked material, sold on the dark web, contains the personal data of thousands of present and past workers. To confirm authenticity, the hacker has released samples of the stolen data. Piramal Group has not yet commented on the hack. Large organisations are facing an increasing number of cybersecurity risks, as this incident highlights. Robust data protection procedures are essential to prevent these breaches and secure sensitive data. Read More..

B2B Tech News | 3 months ago      

Apple Launches Public Beta for Apple Maps on the Web

Safari, Chrome, and Edge are just a few browsers that may access Apple Maps on the web thanks to the companys opening of a public test. Similar functi

Safari, Chrome, and Edge are just a few browsers that may access Apple Maps on the web thanks to the companys opening of a public test. Similar functions of the mobile app are available online, such as ordering takeaway, navigating using driving and walking instructions, and perusing reviews and guides. In the future, Apple will introduce more browsers, languages, and capabilities like "Look Around". By expanding its user base, this expansion aims to compete directly with Google Maps. Developers can also include links to online maps for comprehensive location data. Read More..

B2B Tech News | 3 months ago      

Microsoft Enhances Bing with AIGenerated Answers for Smarter Searches

Microsoft has introduced AIpowered capabilities for Bing Search, allowing users to see AIgenerated results straight on the search results page. Both b

Microsoft has introduced AIpowered capabilities for Bing Search, allowing users to see AIgenerated results straight on the search results page. Both big and small language models have produced these answers, which are meant to be thorough and precise. Conventional search results are still available, guaranteeing openness and user interaction. Microsoft is releasing this feature piecemeal to get user input and improve the overall experience. This program follows Googles Search Generative Experience, incorporating AI. A restricted group of people may presently access the new Bing AI search tool. Read More..

B2B Tech News | 3 months ago      

Google Cloud Boosts Vertex AI with Mistral AI’s CuttingEdge Code Generation Model

The Vertex AI platform from Google Cloud now includes Mistral AIs Codestral codegeneration model. Through this collaboration, developers will be able

The Vertex AI platform from Google Cloud now includes Mistral AIs Codestral codegeneration model. Through this collaboration, developers will be able to use Codestral to generate, finish, and fill in code snippets in more than 80 programming languages, improving the correctness and efficiency of their work. This integration is a part of Googles larger plan to encourage flexible and open AI ecosystems and provide corporate clients access to a wide range of AI technologies. Founded in 2023, Mistral AI is a Parisbased firm that has quickly garnered attention and capital, establishing it as a significant force in artificial intelligence. Read More..

B2B Tech News | 3 months ago      

South African Rand Slides Ahead of June Inflation Data and U.S. Political Developments

As investors anticipated June inflation statistics and kept an eye on developments in the U.S. presidential campaign, the South African rand fell by 0

As investors anticipated June inflation statistics and kept an eye on developments in the U.S. presidential campaign, the South African rand fell by 0.9% to 18.4025 against the dollar on Tuesday. Ahead of Statistics South Africas inflation data, which might influence future interest rate decisions, the rand has declined, reflecting caution. Markets are also paying attention to changes in U.S. politics after U.S. President Joe Biden withdrew from the 2024 race and endorsed Vice President Kamala Harris. Inflation in the local area is predicted to drop to 5.1% in June from 5.2% in May. The Top40 index on the Johannesburg Stock Exchange increased by 0.24%, while South Africas 2030 government bond yield decreased to 9.46%. Read More..

B2B Tech News | 3 months ago      

Boschs Largest Acquisition $8 Billion Deal for Residential Ventilation Units from Johnson Controls and Hitachi

Robert Bosch has agreed to pay $8 billion to purchase the home ventilation operations of Hitachi and Johnson Controls. This is Boschs largest acquisit

Robert Bosch has agreed to pay $8 billion to purchase the home ventilation operations of Hitachi and Johnson Controls. This is Boschs largest acquisition to date. Bosch Home Comfort will see a boost in revenues from the purchase, which will reach €9 billion. The joint venture with Hitachi will keep its interest in ductless HVAC production facilities in Japan, and Johnson Controls North American ducted HVAC business is included in the deal. Bosch wants to take advantage of the expanding market for heat pumps and energyefficient technology in the United States and Asia. The deal, which is financed by Boschs cash on hand, is anticipated to increase significantly the companys market share in the heating and cooling industry worldwide. Johnson Controls anticipates net proceeds of around $5 billion after taxes on the $6.7 billion in cash it will receive. Read More..

B2B Tech News | 3 months ago