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Bidcorp Reports 6% Profit Growth, Boosted by Strong Festive Season

A stronger festive season in Q2 helped Bidcorp, an international food services firm based in South Africa, report a 6% increase in halfyear profitabil

A stronger festive season in Q2 helped Bidcorp, an international food services firm based in South Africa, report a 6% increase in halfyear profitability and a 3.6% increase in revenue to 117.9 billion rand. At 12.21 rand, headline profits per share HEPS increased by 10% in constant currency. The firm announced an interim dividend of 5.6 rand per share, up 6.7% over the previous year. Trading profit increased 6.8% to 6.3 billion rand despite low food inflation and poor consumer demand. Despite severe weather and economic difficulties, its European segment—the largest by revenue and profit—performed well. Read More..

B2B Tech News | 1 months ago          

OCBC Reports 4% Rise in Q4 Profit, Below Expectations Shares Drop

Despite reporting a lowerthanexpected 4% increase in Q4 net profit to S$1.69 billion, OCBC, Singapores secondlargest bank, announced a S$2.5 billion $

Despite reporting a lowerthanexpected 4% increase in Q4 net profit to S$1.69 billion, OCBC, Singapores secondlargest bank, announced a S$2.5 billion $1.87 billion capital return. The bank anticipates Southeast Asia will continue to be resilient while warning of an uncertain global environment brought on by U.S. trade tariffs. OCBC predicts a net interest margin drop to about 2% from 2.2% and midsingledigit loan growth in 2025, down from 8% in 2024. Special dividends and share buybacks spread over two years are included in its capital return. On the announcement, OCBC shares fell as much as 2.8%, in contrast to peers DBS and UOB, who reported better profits. Read More..

B2B Tech News | 1 months ago          

Tata Capital Plans IPO by September, Marking Tata Group’s Latest Market Entry

In an initial public offering IPO, Tata Capital, the financial services division of the $165 billion Tata Group, will issue 230 million new shares whi

In an initial public offering IPO, Tata Capital, the financial services division of the $165 billion Tata Group, will issue 230 million new shares while allowing current shareholders to sell their holdings. By September 2024, "upper layer" nonbanking financial enterprises must be listed, as required by the Indian Central Bank. Given that Tata Technologies went public in November 2023, this will be the first IPO of the Tata Group. In March 2024, Tata Sons owned 92.8% of Tata Capital, which was founded in 2007 and provides a range of lending products. The corporation has also approved a rights offer of ₹15.04 billion $173 million. Additional IPO information has not yet been made public. Read More..

B2B Tech News | 1 months ago          

G20 Finance Talks in South Africa Hit by Key Absences, Climate Finance Disputes

Key absences and disagreements on debt, inequality, and climate funding cloud discussions when G20 finance ministers and central bankers gather in Sou

Key absences and disagreements on debt, inequality, and climate funding cloud discussions when G20 finance ministers and central bankers gather in South Africa. U.S. Treasury Secretary Scott Bessent, EU Commissioner Valdis Dombrovskis, and Japans Finance Minister Katsunobu Kato will not attend the meeting. Although progress appears improbable, the host country, South Africa, wants to advocate for more climate financing and financial reforms to help poorer nations. According to some, the G20s power is weakened, but others see an opening for new partnerships. Although differences could impede the shift to renewable energy, South African President Cyril Ramaphosa emphasises the need for wealthier countries to address climate change. Read More..

B2B Tech News | 1 months ago          

Japan Post to Sell $4B in Japan Post Bank Shares, Reducing Stake Below 50%

Japan Post Holdings intends to sell around 600 billion yen $4.02 billion worth of Japan Post Bank shares to lower its ownership below 50%. This action

Japan Post Holdings intends to sell around 600 billion yen $4.02 billion worth of Japan Post Bank shares to lower its ownership below 50%. This action will reduce constraints intended to safeguard private companies, giving Japan Post Bank greater business freedom. Japans corporate governance reforms, which examine "parentchild" listings and advocate for more excellent freefloat share ratios, align with the sale. With a share buyback also planned by Japan Post Bank, the decision may be decided this week. Japan Post has already decreased its stake in Japan Post Insurance to 49.8%, lowering its stake from 61.5% in 2023. Because of the higher interest rates, the bank reported a 17% increase in earnings to 308 billion yen. Read More..

B2B Tech News | 1 months ago          

Intel’s New Xeon 6 CPUs Deliver 1.5X AI Inference Gains Over AMD EPYC

Intels Xeon 6 family, which includes the Xeon 6700 and 6500 series CPUs, is intended for highperformance computing, enterprise applications, and artif

Intels Xeon 6 family, which includes the Xeon 6700 and 6500 series CPUs, is intended for highperformance computing, enterprise applications, and artificial intelligence. Comprising up to 86 cores, these processors offer 1.5X better AI inference efficiency than AMDs EPYC CPUs and 1.4X more performance than their predecessors. They feature PCIe 5.0, CXL 2.0, and DDR5 MRDIMM memory. They also have improved power efficiency, which allows for 51 server consolidation. Intel also introduced the Xeon 6 for network and edge, which offers a 70% performanceperwatt gain and is tuned for vRAN, AI, and network security. The announcement increases data centre efficiency while reaffirming Intels dedication to AIdriven computing and edge technologies. Read More..

B2B Tech News | 1 months ago          

Perplexity Teases AIPowered Web Browser ‘Comet’ with Agentic Search

Perplexity has hinted at Comet, an AIpowered web browser with "agentic search." There is now a waitlist for early access, but no launch date has been

Perplexity has hinted at Comet, an AIpowered web browser with "agentic search." There is now a waitlist for early access, but no launch date has been specified. A webpage that teases future details has gone live, and a short teaser video was posted on X. Similar to OpenAIs Operator AI, agentic search proposes native AI agents capable of completing activities like making reservations or purchasing tickets. Comet is a Chromiumbased desktop and mobile browser, and Perplexity is hiring for its development, including a Browser C++ Engineer position. Perplexity is now positioned to compete with OpenAI and Google in AIdriven search and browsing experiences after the recent debut of its Deep Research function. Read More..

B2B Tech News | 1 months ago          

Dassault Systèmes Integrates Apple Vision Pro into 3D Design Software

Dassault Systèmes and Apple have partnered to incorporate the Vision Pro headset into their 3D design software, which is extensively utilised in manu

Dassault Systèmes and Apple have partnered to incorporate the Vision Pro headset into their 3D design software, which is extensively utilised in manufacturing, urban planning, and life sciences. The "3DLive" program, released this summer, will allow engineers and designers to work together in real time on 3D models. The French company is wellknown for producing highprecision digital twins. The sophisticated sensors and processing power of the Vision Pro will enable users to spot any design defects early on, such as maintenance problems in manufacturing layouts. More than just a visual boost, Dassault Systèmes highlights that this integration is a potent engineering tool that facilitates earlystage problemsolving in digital settings, improving decisionmaking, cutting costs, and streamlining manufacturing processes. Read More..

B2B Tech News | 1 months ago          



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