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Barclays Downgrades Apple Stock to Sell Amid Concerns Over Weak Demand

Barclays reduced its rating on Apples stock to "sell," citing worries about the companys projected sluggish demand in 2024 for its products, which inc

Barclays reduced its rating on Apples stock to "sell," citing worries about the companys projected sluggish demand in 2024 for its products, which include the Mac and iPhone. This action follows a roughly 50% increase in Apples stock in 2023, which saw it hit a record high in midDecember. Due to decreased demand, Apples projected holidayquarter sales fell short of Wall Street projections. The second brokerage to rate the company as a "sell" was Barclays, and their downgrading caused Apples shares to fall by over 3.6%, reaching a sevenweek low. Risks to the services industry and worries about Chinas vulnerability were also discussed. Read More..

B2B Tech News | 2 years ago          

Tesla Clinches Top Spot in Norways Car Sales for Third Consecutive Year

For the third year in a row, Tesla has topped the Norwegian auto sales charts in 2023, taking a 20% market share, up from 12.2%. In Norway, batterypow

For the third year in a row, Tesla has topped the Norwegian auto sales charts in 2023, taking a 20% market share, up from 12.2%. In Norway, batterypowered vehicles accounted for nearly five of every six new automobiles sold last year. In 2023, 82.4% of new vehicle sales were electric, up from 79.3% in 2022. Tesla has succeeded despite an ongoing dispute with Nordic labour unions over the companys refusal to grant Swedish mechanics demands for the right to collective bargaining. By 2025 the Norwegian government wants to stop selling automobiles that run on petrol and diesel. Read More..

B2B Tech News | 2 years ago          

Fraud Alert TRAI Instructs Telecom Companies to Counter Cybercriminals Impersonating the Regulator

Telecom service providers Airtel, BSNL, Reliance Jio, and VodafoneIdea have been directed by the Telecom Regulatory Authority of India TRAI to alert c

Telecom service providers Airtel, BSNL, Reliance Jio, and VodafoneIdea have been directed by the Telecom Regulatory Authority of India TRAI to alert customers about communications received by hackers impersonating the telecom regulator. To prevent being disconnected, scammers have been posing as TRAI and requesting a noobjection certificate for tower installation or confirmation of current mobile numbers. The public is being advised not to trust these phone communications by TRAI. To verify, terminate, or report illegal activity involving mobile numbers, TRAI never sends texts or makes calls to users. This is a warning that the regulator wants telecom carriers to distribute. Read More..

B2B Tech News | 2 years ago          

Xerox Confirms Cybersecurity Incident at XBS, Assures No Impact on Corporate Systems

Xerox has acknowledged that XBS, one of its subsidiaries, was the target of a cyberattack that may have involved the theft of personal data. The ranso

Xerox has acknowledged that XBS, one of its subsidiaries, was the target of a cyberattack that may have involved the theft of personal data. The ransomware group INC declared last week that they were behind the attack on the business, which made over $7 billion in revenue in 2022. According to Xerox, the event did not impact XBS operations or the companys corporate systems, data, or activities. A preliminary assessment, however, points to the possibility that some personal data within the XBS environment was compromised. Xerox intends to contact everyone impacted by the issue and is conducting a comprehensive investigation in collaboration with outside cybersecurity experts. Read More..

B2B Tech News | 2 years ago          

Indian Enforcement Directorate Conducts Raids on Shinebay Technology and Mpurse Services

On December 21, Shinebay Technology India Private Limited STIPL and Mpurse Services Private Limited MSPL, businesses "owned and controlled" by Chinese

On December 21, Shinebay Technology India Private Limited STIPL and Mpurse Services Private Limited MSPL, businesses "owned and controlled" by Chinese nationals, were the targets of new searches carried out by the Enforcement Directorate ED in India. The searches are part of an investigation into money laundering by companies that use mobile applications to lend money and engage in actions including harassing borrowers, charging outrageous interest rates, and gaining unauthorised access to their personal information. According to the ED, the Chinese nationals used experts such as chartered accountants, attorneys, and sham directors to construct a sophisticated network of fintech businesses and NBFCs in India. During the searches, cash and papers containing evidence of guilt were found. Read More..

B2B Tech News | 2 years ago          

Montana Appeals U.S. Judges Decision to Block TikTok Ban

Montana is contesting the ruling of a U.S. court that struck down the states TikTok prohibition. U.S. District Judge Donald Molloy granted a prelimina

Montana is contesting the ruling of a U.S. court that struck down the states TikTok prohibition. U.S. District Judge Donald Molloy granted a preliminary injunction in November to prevent the ban, which was scheduled to go into effect on January 1. He cited constitutional issues and an overreach by the state. The state legislature, concerned about user data privacy and possible Chinese eavesdropping, had authorised the prohibition. Montanan TikTok users have also sued the platform to overturn the restriction. While other states and the federal government have prohibited using TikTok on equipment controlled by the government, Montana has advocated for an allout ban on the app. Read More..

B2B Tech News | 2 years ago          

Bank of Korea Governor Expresses Concerns Over Financial Risks Amid Prolonged Tightening

Governor of the Bank of Korea Rhee Changyong voiced worries about the financial dangers associated with extended monetary tightening, noting a struggl

Governor of the Bank of Korea Rhee Changyong voiced worries about the financial dangers associated with extended monetary tightening, noting a struggling builders recent problems as a "warning sign." As South Korea approaches the conclusion of its attempts to control consumer prices, Rhee emphasises the necessity for the proper policy mix while maintaining that managing inflation remains a top concern. He cited concerns about the quality of commercial real estate loans and the debt restructuring of a midsized local developer as red flags. Following market trepidation over Taeyoung Engineering & Constructions debt restructuring, Rhee promised liquidity support. The central banks projection of a gradual return to its 2% objective by the end of 2024 is supported by South Koreas annual consumer inflation slowed to 3.2% in December. Read More..

B2B Tech News | 2 years ago          

Geely Automobile Aims for 1.9 Million Unit Sales in 2024, Eyes 13% Growth

The Chinese automaker Geely Automobile Holdings Ltd. has set a sales volume target of 1.9 million units for 2024, a 13% increase over its total sales

The Chinese automaker Geely Automobile Holdings Ltd. has set a sales volume target of 1.9 million units for 2024, a 13% increase over its total sales in 2023. Although precise numbers were not given, the business also declared that its sales volume objective for new energy vehicles would be exceeded by over 66% compared to the entire sales volume attained in 2023. Geely sold 1,686,516 cars in 2023, an increase of 18% over the year before. Compared to the same period in 2022, the sales volumes in December 2023 increased by 3%. In terms of sales, Geely is the secondbiggest carmaker in China. Read More..

B2B Tech News | 2 years ago          



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