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Gold Prices Hit New Records Amid Weak U.S. Economic Data

Due in part to bleak U.S. economic statistics and Federal Reserve Chair Jerome Powells hinted at rate reduction, gold prices broke fresh highs for the

Due in part to bleak U.S. economic statistics and Federal Reserve Chair Jerome Powells hinted at rate reduction, gold prices broke fresh highs for the seventh straight day. U.S. gold futures surged to $2,167.00 per ounce, while spot gold reached its top at $2,161.09 per ounce. Although U.S. statistics supported the gold advance, Marcus Garvey of Macquarie pointed out that substantial futures purchasing since Friday probably overstated the gain. Powells remarks increased the appeal of gold by pushing down U.S. Treasury rates and the dollar against the backdrop of deteriorating labour market conditions and decreasing inflation. In light of geopolitical unpredictability, Jigar Pandit of BNP Paribas Sharekhan believes that gold is a secure investment and expects central banks to keep purchasing it. Read More..

B2B Tech News | 1 months ago          

FTX and BlockFi Reach Settlement Agreement in Bankruptcy Dispute

After going bankrupt in 2022, FTX and BlockFi resolved their differences, with FTX promising to pay BlockFi up to $874 million, subject to court clear

After going bankrupt in 2022, FTX and BlockFi resolved their differences, with FTX promising to pay BlockFi up to $874 million, subject to court clearance. The settlement comes after court cases involving money loans made before bankruptcy. Prioritising a $250 million payment to BlockFi, FTX will leave the remaining amount up to its capacity to pay back its bankruptcyprotected clients. Following the revelation of FTXs mishandling of client cash amid a market meltdown, their onceclose friendship crumbled. BlockFi requested FTXs assistance during market turbulence and extended loans to FTXs hedge fund, Alameda Research. In addition to $185.3 million for money in FTX accounts, FTX may pay BlockFi up to $689 million for Alameda loans. BlockFi withdrew its case about 56 million Robinhood shares promised to Alameda as loan collateral, which the US DOJ had confiscated during FTX founder Sam BankmanFrieds arrest. Read More..

B2B Tech News | 1 months ago          

Tesla Shares Fall for Third Day as Morgan Stanley Cuts Price Target

Shares of Tesla TSLA.O fell for the third day in a row following a critical Morgan Stanley analysts reduction in the price objective for the stock. De

Shares of Tesla TSLA.O fell for the third day in a row following a critical Morgan Stanley analysts reduction in the price objective for the stock. Despite significant price reductions, there were worries about the declining demand for electric cars EVs in essential regions like China. In addition to highlighting the fierce pricing competition in the oversupplied Chinese EV market, Morgan Stanleys Adam Jonas also drew attention to Teslas ageing product selection compared to other major OEMs. His reduced target price for Teslas shares went from $345 to $320. After initially declining, Teslas stock somewhat rebounded and closed 1.3% down at $178.35. This week, the stock lost more than 11% of its market value, wiping out nearly $70 billion. In addition, the pricing war got more intense when Chinese EV producer BYD lowered its prices. Read More..

B2B Tech News | 1 months ago          

Yen Hits OneMonth High Against Dollar on Speculation of BOJ Policy Shift

As anticipation of U.S. rate reduction weighed on the dollar, speculation that the Bank of Japan BOJ would soon eliminate negative interest rates sent

As anticipation of U.S. rate reduction weighed on the dollar, speculation that the Bank of Japan BOJ would soon eliminate negative interest rates sent the yen to a onemonth high versus the dollar. According to BOJ board member Junko Nakagawa, Japans economy is moving closer to sustainably meeting the central banks inflation objective. The increase in the yen is due to mounting expectations of a potential BOJ policy change. The dollar fell against other currencies as traders braced themselves for possible rate cuts in the United States, particularly after Federal Reserve Chair Jerome Powell made hints about them. The Canadian currency remained stable following the Bank of Canadas decision to retain its benchmark interest rate. At the same time, the euro and pound kept close to onemonth highs against the U.S. dollar. Read More..

B2B Tech News | 1 months ago          

Dell Technologies and CrowdStrike Expand Partnership for Enhanced Cybersecurity

The Falcon XDR platform from CrowdStrike and Dell Technologies have joined forces to offer Dells Managed Detection and Response MDR services. This is

The Falcon XDR platform from CrowdStrike and Dell Technologies have joined forces to offer Dells Managed Detection and Response MDR services. This is the result of an extended strategic cooperation between the two companies. Organisations must contend with a cybersecurity skills gap while attempting to fight against more sophisticated assaults. By offering clients a comprehensive managed security solution that lowers complexity and improves security posture across multicloud and multivendor settings, the partnership seeks to solve these issues. Scalable and outcomebased security solutions are provided to customers by Dells worldwide security operations professionals in conjunction with CrowdStrikes proactive threathunting capabilities. By enabling clients to identify, respond to, and recover from events effectively, our alliance seeks to improve security results while cutting costs. Read More..

B2B Tech News | 1 months ago          

OpenAI and Microsoft Tools Flagged for Potential Election Misinformation

A paper published by the Centre for Countering Digital Hate CCDH claims that artificial intelligencepowered image creation tools, such as those from M

A paper published by the Centre for Countering Digital Hate CCDH claims that artificial intelligencepowered image creation tools, such as those from Microsoft and OpenAI, may be abused to produce false images associated with elections or voting. These AI tools were discovered to generate visuals that might support misinformation campaigns despite laws prohibiting misleading content creation. Using ChatGPT Plus and Image Creator, among other AI technologies, CCDH produced images of President Joe Biden in a hospital bed and election workers breaking voting equipment. Some solutions, like Midjourney, performed severely and produced deceptive information in 65% of tests. At the same time, other tools effectively blocked requests for candidate photos. Read More..

B2B Tech News | 1 months ago          

Google Establishes First Cybersecurity Base in Tokyo

As reported by the Nikkei newspaper on Thursday, Google has opened its first cybersecurity hub in Tokyo as part of its efforts to support cybersecurit

As reported by the Nikkei newspaper on Thursday, Google has opened its first cybersecurity hub in Tokyo as part of its efforts to support cybersecurity initiatives in the AsiaPacific area. Computer engineers from different organisations in the region would be able to collaborate and research cyber countermeasures at the facility. With this project, Google is demonstrating its dedication to improving cybersecurity infrastructure and knowledgesharing in the area and tackling the increasing risks posed by cyberspace. Read More..

B2B Tech News | 1 months ago          

Nokia Partners with STL to Develop Advanced Enterprise Connectivity Solutions

Nokia and STL have formed a strategic cooperation to create cuttingedge enterprise connectivity solutions to promote creativity and help companies thr

Nokia and STL have formed a strategic cooperation to create cuttingedge enterprise connectivity solutions to promote creativity and help companies thrive in the digital era. Predictive operations and multiservice premise edge connection are two examples of technologies used in this partnership to improve customer experience related to the changing demands of businesses in diverse industries. This agreement will combine Nokias technological acumen in 5G and IoT with STLs experience in connectivity solutions to enable highspeed, lowlatency connections for applications like realtime analytics and 5G. Furthermore, the partnership will focus on governmentinitiated connectivity initiatives, utilizing STLs system integration skills and Nokias B2B technology portfolio. Together, they want to spur industrywide transformation and quicken the pace of the Industry 4.0 revolution. Praveen Cherian, CEO of Global Services Business at STL, highlighted the synergy between the two companies. At the same Read More..

B2B Tech News | 1 months ago          



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