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SoftBank raises $22 billion in spinoff from Alibaba

SoftBank secured $22 billion in cash by selling a prepaid forward contract with holding company Alibaba Group, the Financial Times report. The deal al

SoftBank secured $22 billion in cash by selling a prepaid forward contract with holding company Alibaba Group, the Financial Times report. The deal allows the Japanese company to raise funds immediately while maintaining its shareholding capacity. SoftBank can drop its stake below a threshold to keep its seat on the board and not recognize its share of Alibabas profits in its financial statements. About $13.17 billion was increased from Alibaba shares through prepaid forward contracts, new contracts, swaps, and the early termination of existing contracts. In recent years, SoftBank has used Alibaba shares to trade complex derivatives, including hedging exposure. The global stock market slump hurt SoftBanks earnings as the value of its technology investments continued to decline. Read More..

B2B Tech News | 1 years ago          

IMDA announces new 5G projects, including augmented reality experiences at Marina Bay

The Infocomm Media Development Authority IMDA has announced three additional 5G projects to help Singapore improve the consumer experience using 5G mo

The Infocomm Media Development Authority IMDA has announced three additional 5G projects to help Singapore improve the consumer experience using 5G mobile networks. The project concerns the use of 5G in augmented reality, medical technology, and the maritime sector. IMDA approved a joint venture between Singtel and StarHubM1 to operate 5G networks in June 2020. In January 2021, IMDA announced US$30 million in funding to accelerate 5G adoption. Users of Apple 5G mobile devices can download and unlock AR apps with performance tickets purchased through the web portal. Another project concerns the use of 5G in holy medicine to enhance and improve healthcare using holographic displays and images. Read More..

B2B Tech News | 1 years ago          

Sensex, Nifty open in green. A look at shares of IndiGo, Vodafone Idea, Lupin, Adani Power, Adani Wilmar

The BSE Sensex rose 21 points, or 0.04 percent, to 58,136, recovering 583 points from the low of the day. The broader NSE Nifty rose 5 points to 17,34

The BSE Sensex rose 21 points, or 0.04 percent, to 58,136, recovering 583 points from the low of the day. The broader NSE Nifty rose 5 points to 17,345, with 24 stocks gaining. Traders will keep an eye on the Reserve Bank of India RBI policy meeting, scheduled to start today. Adani group company Adani Green Energy reported a 2.3% YoY fall in consolidated profit at ₹214 crores for the quarter ended June 2022, weighed down by lower other. income and forex loss. Revenue, however, rose 58%.ITC has discontinued its retail business following a strategic review of its business portfolio. The US drug regulator, the FDA, has issued six observations on the firms robust manufacturing facilities at its Roorkee plant. GMR Infra has partnered with Airbus to train young engineers in aircraft maintenance Read More..

B2B Tech News | 1 years ago          

Viavi updates the Observer platform to simplify monitoring in the cloud

Solutions have released the latest update for Observer, which includes the Network Performance Monitoring and Diagnostics NPMD platform. Release 18.8

Solutions have released the latest update for Observer, which includes the Network Performance Monitoring and Diagnostics NPMD platform. Release 18.8 promises simplified cloud monitoring in a data centerlike layout that delivers an automated enduser experience EUE, two key features for cloudbased applications and deployments. scoring and problem domain isolation. The company also announced that Observer Apex and Observer Gigastor will now also be available directly in Amazons Amazon AWS Marketplace. Organizations migrating their missioncritical applications to AWS can now seamlessly extend their onpremise service visibility to AWS instances in the cloud. IT teams can now deploy Observer across the entire hosting and IT services ecosystem with easytodeploy Observer agents that can be used for individual remote users or even for dedicated troubleshooting. According to the latest Viavi Network Health survey, NetOps and SecOps teams noted the rapid transition to cloudbased hosting. Read More..

B2B Tech News | 1 years ago          

GetSwifts parent company has filed for bankruptcy in the United States

GetSwift Technology entered Chapter 11 bankruptcy protection just days after the appointment of liquidators to the shell of its former ASXlisted subsi

GetSwift Technology entered Chapter 11 bankruptcy protection just days after the appointment of liquidators to the shell of its former ASXlisted subsidiary. The company is listed on Canadas NEO Exchange but is headquartered in New York. It had entered a stalking horse bid to sell its logistics softwareasaservice SaaS business to US property fund Stage Equity Partners. GetSwift Technology as well as its operating subsidiary GetSwift, Inc. filed voluntary petitions for reorganization in the United States Bankruptcy Court overnight on Monday. . The company says it plans to file the customary firstday motions to allow it to maintain operations and that it intends to pay its employees as usual. The sale of the companys business is being undertaken under the stalking horse provisions of the bankruptcy code. Read More..

B2B Tech News | 1 years ago          

Focus on Egypt Cairo needs less than $15 billion from the IMF. Homzmart raised $23 million in preseries B rounds

This is according to a report by Goldman Sachs Group Inc. It is estimated that the North African country could receive a package of 15 billion dollars

This is according to a report by Goldman Sachs Group Inc. It is estimated that the North African country could receive a package of 15 billion dollars from the IMF to raise the necessary financing in the next three years. Transport sector The Egyptian government aims to increase its investment in the transport sector by 27.5% this fiscal year to 307 billion Egyptian pounds $16 million. It is targeting £672bn in 2023/23, up from £586.5bn in 2021/22. Cairobased ecommerce startup Homzmart, a furniture and home goods ecommerce platform, has raised $23 million in a preseries B round, bringing its total investment to around 40 millions of dollars. Read More..

B2B Tech News | 1 years ago          

Transcript of the International Game Technology IGT Q2 2022 Earnings Call

International Game Technologys second quarter and firsthalf results confirm strong operating fundamentals across the portfolio. In addition to importa

International Game Technologys second quarter and firsthalf results confirm strong operating fundamentals across the portfolio. In addition to importantly improved global gaming profitability, strong global lottery margins were an important contributor to our overall consolidated results. The operating margin of 22% was at the high end of our expectations for the quarter, while the EBITDA margin of 40% remains among the highest in company history. IGT has leading positions in each market segment where we participate and about 80% of our total revenue is being utilised. The global lottery segment accounts for most of our profits in the range of 75% to 80%. It is important to highlight because the lottery is an attractive business with steadily growing and predictable revenue, profit, and cash flows backed by longterm contracts. Read More..

B2B Tech News | 1 years ago          

Nintendo Switch sales slumped due to chip shortage

Nintendo sold 3.43 million units of its Switch console in the quarter, down from from 4.45 million a year earlier.Sales of hybrid home/portable switch

Nintendo sold 3.43 million units of its Switch console in the quarter, down from from 4.45 million a year earlier.Sales of hybrid home/portable switches forecast second annual decline.Operating profit fell 15% to 101.6 billion yen $763 million, below analyst estimates.Nintendo sold 23% fewer Switch consoles in the AprilJune quarter than a year earlier following chip shortages, it said on Wednesday. The Kyotobased gaming company said it expected procurement to improve from late summer towards autumn Nintendo maintained its forecast to sell 21 million units in the year through endMarch 2023. Read More..

B2B Tech News | 1 years ago          



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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