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Commonwealth Bank CEO Matt Comyn Slams MP Over Misinformation and Tax Proposal

Commonwealth Bank of Australia CBA CEO Matt Comyn denounced a lawmaker for disseminating false information and denounced a tax hike on large corporati

Commonwealth Bank of Australia CBA CEO Matt Comyn denounced a lawmaker for disseminating false information and denounced a tax hike on large corporations that was being pursued by "insidious populism" and lacked foundation. Defying proposals from the Reserve Bank of Australia, Comyn countered statements made during a parliamentary inquiry that pointofsale fees imposed by banks were a significant source of profit, labelling such language as harmful. Additionally, he criticised a recent Greens party plan to raise taxes on banks and miners, claiming it needed more validity and was predicated on incorrect premises. Comyns comments were a break from the customarily submissive attitude that Australian bank executives had previously adopted. Read More..

B2B Tech News | 8 days ago          

Bank of Mexico Cuts GDP Growth Forecasts Amidst Weak Economic Performance

With a 1.5% GDP growth rate for 2024—down from 2.4%—and a 1.2% GDP growth rate for 2025—down from 1.5%—the Bank of Mexico has lowered its esti

With a 1.5% GDP growth rate for 2024—down from 2.4%—and a 1.2% GDP growth rate for 2025—down from 1.5%—the Bank of Mexico has lowered its estimates for economic growth. This revision results from lowerthanexpected secondquarter growth, decreased demand for overseas manufacturing, and decreased domestic infrastructure projects. The central bank is cautious, emphasising ongoing inflation concerns, even with the latest 0.2% quarterly gain. It now projects higher inflation than anticipated, with core inflation at 3.9% and headline inflation at 4.4% by years end. The central bank expects continued difficulties with inflation but suggests the possibility of more rate reductions should inflation trends improve. The central bank recently dropped its benchmark interest rate to 10.75%. Read More..

B2B Tech News | 8 days ago          

Berkshire Hathaway Surpasses $1 Trillion Market Value for the First Time

On Wednesday, Berkshire Hathaways market value surpassed $1 trillion for the first time, demonstrating investors great faith in Warren Buffetts compan

On Wednesday, Berkshire Hathaways market value surpassed $1 trillion for the first time, demonstrating investors great faith in Warren Buffetts company. Class B shares of the corporation increased 0.9% to $464.59, while Class A shares finished at $696,502.02, up 0.7%. With this achievement, Berkshire joins the ranks of six other $1 trillionplus U.S. firms, including Apple, Nvidia, Microsoft, Alphabet, Amazon, and Meta. Since becoming CEO in 1965, Buffett has turned Berkshire from a collapsing textile firm into a diversified behemoth with extensive holdings across various sectors and a sizable stock portfolio. In the first half of 2024, the companys operational companies made $22.8 billion in profit, up 26% over the same period the year before. Read More..

B2B Tech News | 8 days ago          

Nippon Steel to Invest Additional $1.3 Billion in U.S. Steel Mills

A $1.3 billion investment in U.S. Steels two mills is part of an ongoing takeover by Nippon Steel, the largest steelmaker in Japan. Adding to the $1.4

A $1.3 billion investment in U.S. Steels two mills is part of an ongoing takeover by Nippon Steel, the largest steelmaker in Japan. Adding to the $1.4 billion already committed through 2026, this additional investment will spend $1 billion to expand Mon Valley Works ability to produce highgrade steel and $300 million to prolong Gary Works production life in Indiana. A political and regulatory roadblock, including worries from the United Steelworkers USW union, hampered Nippon Steels $14.9 billion acquisition of U.S. Steel, completed in December 2007. After receiving all necessary clearances, the deal is anticipated to conclude in the second part of 2024. Read More..

B2B Tech News | 8 days ago          

Indias Eros Investments to Pour $1 Billion into Malaysias AI and Film Sectors

The digital ministry of Malaysia has announced that Eros Investments, an Indian company, and its Immerso AIIP business will invest $1 billion in Malay

The digital ministry of Malaysia has announced that Eros Investments, an Indian company, and its Immerso AIIP business will invest $1 billion in Malaysia to establish an artificial intelligence park and movie studio. Over the following five years, the proposed investment, which includes an AI university and data centre within the park, might create 5,000 jobs. With a significant commitment to developing both industries, the initiative seeks to strengthen Malaysias position in AI and film production. Read More..

B2B Tech News | 8 days ago          

"Quishing" Campaign Soars 2,000% with Microsoft Sway Phishing Attack

Last month, researchers discovered a "quishing" campaign targeting Microsoft Office credentials, resulting in a dramatic 2,000fold increase in traffic

Last month, researchers discovered a "quishing" campaign targeting Microsoft Office credentials, resulting in a dramatic 2,000fold increase in traffic to unique Microsoft Sway phishing pages. Quishing is a phishing technique that uses QR codes to direct users to malicious sites. The campaign has primarily targeted industries in Asia and North America, including technology, manufacturing, and finance. Attackers exploit Microsoft Sway—a free, accessible application within Microsoft 365—to add a layer of legitimacy, deceiving users into entering their credentials. The researchers at Netskope Threat Labs advise users to check URLs manually and recommend that organizations review their security policies to mitigate such threats. Read More..

B2B Tech News | 8 days ago          

Reddit Back Online After Update Sparks Massive U.S. Outage

An upgrade that inadvertently affected the platforms stability caused Reddit to go down, impacting thousands of users. After the business released a p

An upgrade that inadvertently affected the platforms stability caused Reddit to go down, impacting thousands of users. After the business released a patch, the platforms functionality was restored, resolving the issue. Around 152,982 complaints of interruptions in the United States were recorded by Downdetector as of 0409 PM ET, indicating that the outage was widely reported. Reddit, wellknown for its wide range of forums, or "subreddits," mostly makes money via advertisements. In a statement to Reuters, the corporation recognised the problem and said the platform is now operational again. Read More..

B2B Tech News | 8 days ago          

CrowdStrike Enhances AI Security with FalconNVIDIA NIM Integration

To improve security for generative AI applications, CrowdStrike has announced the integration of NVIDIA NIM agent blueprints with its AInative Falcon

To improve security for generative AI applications, CrowdStrike has announced the integration of NVIDIA NIM agent blueprints with its AInative Falcon cybersecurity platform. Through the use of NVIDIAs NeMo platform and NIM microservices, which are components of the NVIDIA AI Enterprise software stack, this partnership seeks to assist developers in creating safe, enterprisegrade AI applications. These blueprints guarantee data quality and performance while streamlining the creation of AI models for various uses, including medication discovery and customer support chatbots. CrowdStrikes assistance adds an essential degree of protection, allowing businesses to create personalised generative AI solutions that satisfy security and innovation requirements. Read More..

B2B Tech News | 8 days ago          



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