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Canadas Wealth Gap Widens Amidst Economic Shifts, TD Economics Study Shows

Factors such as inflation, rising interest rates, and falling real estate values have contributed to Canadas widening wealth gap, which disproportiona

Factors such as inflation, rising interest rates, and falling real estate values have contributed to Canadas widening wealth gap, which disproportionately affects middleclass households. According to a TD Economics analysis, there hasnt been this much wage disparity since 2015. Even though household net worth increased overall in 2023, wealthier families benefited more from the increase than other households. Due to the depreciation of their real estate holdings and rising debttoincome ratio, middleclass individuals encountered difficulties. Financial restraints on middleclass families, a significant engine of consumption growth, may cause total consumer spending to decline, while higher income spending is likely to maintain economic resilience temporarily. The shortage of available homes in Canada is also a significant factor contributing to the rise in housing costs. Read More..

B2B Tech News | 2 months ago      

AU Small Finance Bank Introduces New Financial Products Including Credit Cards and Business App

The AU SPONT Rupay Credit Card and the Secured Credit Card NOMO, secured by a set deposit, are two new financial products that AU Small Finance Bank

The AU SPONT Rupay Credit Card and the Secured Credit Card NOMO, secured by a set deposit, are two new financial products that AU Small Finance Bank has introduced. To make banking services more accessible to MSMEs, the bank released the AU 0101 Business App. Furthermore, AU SFB introduced WhatsApp and ATM Insurance for immediate insurance issuance. With incentives and features like access to airport lounges, the NOMO Credit Card is designed to accommodate customers with little credit history. For smooth transactions, the AU SPONT Rupay Credit Card interacts with applications that support UPI. The banks founder, MD, and CEO, Sanjay Agarwal, stressed the need for safe credit access and cuttingedge solutions, including insurance purchases made via WhatsApp and ATMs. Read More..

B2B Tech News | 2 months ago      

Spirit AeroSystems Secures $425 Million Advance Payment Deal with Boeing

The U.S. aviation regulators restriction on Boeings 737 MAX manufacturing has created hurdles for Spirit AeroSystems, including low inventory levels a

The U.S. aviation regulators restriction on Boeings 737 MAX manufacturing has created hurdles for Spirit AeroSystems, including low inventory levels and cash flow. Spirit AeroSystems and Boeing have agreed to $425 million in advance payments. This action is being taken in the middle of talks about Boeing possibly purchasing its previous subsidiary Spirit, and as the company struggles with the fallout from a midair panel problem involving a new Alaska Airlines 737 MAX 9. As per the agreement, Spirit is required to sustain a production pace that satisfies Boeings contractual requirement, with the latter stressing their joint efforts to improve quality, stabilise operations, and support customers. Additionally, Spirit will give Boeing specific financial data every week, which will help management in the face of fewer anticipated deliveries and higher manufacturing costs due to regulatory decisions. Read More..

B2B Tech News | 2 months ago      

Teslas Stock Rises Ahead of Quarterly Results Amidst Margin Concerns

Ahead of its firstquarter results, which were predicted to show the lowest gross profit margin in more than six years due to price reductions and wani

Ahead of its firstquarter results, which were predicted to show the lowest gross profit margin in more than six years due to price reductions and waning demand, Teslas shares increased by 2.9%. The introduction of the Model 3s allwheel drive performance model, which is eligible for federal tax credits, came before CEO Elon Musk was expected to be questioned about the future of the Model 2, which was supposed to be affordable. Refocusing attention on a selfdriving robotaxi, Reuters announced its cancellation. Amid worries over Teslas lagging sales growth and frequent price reductions, Musk escalated rumours by cancelling a meeting with the prime minister of India. Analysts predict that yearly sales will begin to fall in 2024, which indicates a problematic future for the manufacturer of electric cars. Read More..

B2B Tech News | 2 months ago      

Apple Bolsters AI Arsenal with Acquisition of Datakalab, French Startup

Apple allegedly bought Datakalab, a cuttingedge business in Paris, France, to bolster its artificial intelligence capabilities. The acquisition of Dat

Apple allegedly bought Datakalab, a cuttingedge business in Paris, France, to bolster its artificial intelligence capabilities. The acquisition of Datakalab, a company that specialises in AI compression and cuttingedge computer vision technologies, was just made public by the French magazine Challenges, indicating that the sale was finalised in December. With a staff of ten to twenty, Datakalab concentrated on developing practical, lowpower deep learning algorithms for ondevice deployment. Their speciality was creating image analysis algorithms that prioritised privacy and measured traffic in public areas. Their adaptability and social influence were demonstrated through agreements with firms like Disney and collaborations with the French government. The strategic importance of the purchase, though not acknowledged by Apple, fits in with the companys upcoming iOS 18 and Vision Pro projects, which are expected to bring about breakthroughs in AI capabilities and vision technology across Read More..

B2B Tech News | 2 months ago      

FPT and Nvidia Join Forces $200 Million AI Factory Set to Revolutionize Vietnams Tech Landscape

Leading IT companies in Vietnam, FPT and Nvidia, will build a $200 million artificial intelligence plant together. With an emphasis on generative AI a

Leading IT companies in Vietnam, FPT and Nvidia, will build a $200 million artificial intelligence plant together. With an emphasis on generative AI and autonomous driving technologies, this project seeks to promote AI research in Vietnam by utilising Nvidias graphics hardware and software. FPT Chairman Truong Gia Binh intended to take these factories outside Vietnam and into South Korea and Japan. The allencompassing strategic alliance between FPT and Nvidia indicates a dedication to promoting technical advancement. Nvidia has made over $250 million in investments in Vietnam, demonstrating its significant support for its growth. With a $5.5 billion market valuation, FPT is wellpositioned to consolidate its leadership in big data, cloud, and artificial intelligence services. Read More..

B2B Tech News | 2 months ago      

Oracle Financial Services Unveils AIPowered Compliance Agent to Combat Money Laundering

An AIdriven cloud solution called Oracle Financial Services Compliance Agent was unveiled by Oracle Financial Services to help banks fight money laund

An AIdriven cloud solution called Oracle Financial Services Compliance Agent was unveiled by Oracle Financial Services to help banks fight money laundering. The technology does costeffective scenario testing to modify thresholds and controls, identify suspicious activity, and effectively satisfy compliance requirements in light of the predicted $5.05 trillion that will be laundered this year. Vice President of Oracles FSGIU Analytics Rajaram Vadapandeshwara emphasised how artificial intelligence may improve efforts to combat money laundering. Banks may evaluate and optimise transaction monitoring systems more profitably with the help of a Compliance Agent. This allows for proactive risk mitigation for highrisk typologies such as human trafficking, risk evaluation for new products, and evidencebased decisionmaking for risk modelling. The solution guarantees stringent regulatory adherence and thorough transaction monitoring by enabling banks to make evidencebased, costeffective, and time Read More..

B2B Tech News | 2 months ago      

Meta Platforms to Share Horizon OS with Rival Manufacturers for VR Headsets

According to a recent announcement by Meta Platforms, Microsoft and other competing device makers will now have access to the Quest headsets operating

According to a recent announcement by Meta Platforms, Microsoft and other competing device makers will now have access to the Quest headsets operating system, Meta Horizon OS. With this action, Meta hopes to strengthen its position in the rapidly developing virtual and mixedreality markets. Spatial anchoring, scene understanding, and gesture recognition are just a few of the features that Meta Horizon OS provides. With the help of this operating system, partner businesses like Asus and Lenovo will create customised headsets for various uses, including productivity, entertainment, and gaming. Mark Zuckerberg, the CEO of Meta, wants to position Meta Horizon OS—similar to Googles Android operating system for smartphones—as the computational foundation for VR and MR devices. Despite competition from Apple and Google, Meta is establishing itself as a frontrunner in this field by prioritising transparency and cooperation with other tech giants like Microsoft. Read More..

B2B Tech News | 2 months ago