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Berkshire Hathaway Boosts Stake in Occidental Petroleum with $588.7 Million Purchase

This week, Berkshire Hathaway, under the leadership of Warren Buffett, paid around $588.7 million to purchase almost 10.5 million shares of Occidental

This week, Berkshire Hathaway, under the leadership of Warren Buffett, paid around $588.7 million to purchase almost 10.5 million shares of Occidental Petroleum, bringing its position to roughly 27%. In addition, as part of an agreement that helped Occidental finance its 2019 acquisition of Anadarko Petroleum, Berkshire is the owner of preferred shares and rights to purchase an additional 83.8 million Occidental shares for $4.7 billion, or $56.62 per share. The warrants would increase Berkshires stake to 33 per cent if exercised. The latest acquisitions come after Berkshire paid around $14.4 billion to acquire a 25.8% share in Occidental on October 25. Read More..

B2B Tech News | 2 years ago          

Argentina Expects December Inflation to Surpass Novembers 12.8%

According to Luis Caputo, Argentinas Minister of Economy, the countrys inflation rate is predicted to be "substantially higher than in November." Arge

According to Luis Caputo, Argentinas Minister of Economy, the countrys inflation rate is predicted to be "substantially higher than in November." Argentinas monthly inflation rate hit a record high of 12.8% in November, the highest of the year. Caputo recently unveiled economic measures, such as a peso devaluation of more than 50% to 800 per US dollar and reductions in energy and transit subsidies. The reduction in energy subsidies is expected to start in February or March of the following year. In light of the nations economic difficulties—including high inflation and a significant loan programme with the IMF—the government intends to restructure its deal with the IMF. Read More..

B2B Tech News | 2 years ago          

DonorView Faces Data Breach Nearly a Million Records of Donors Exposed Online

An internet database with almost a million records of contributors who made financial contributions to nonprofit organisations has been discovered. Do

An internet database with almost a million records of contributors who made financial contributions to nonprofit organisations has been discovered. DonorView, a company that offers cloudbased fundraising platforms to various organisations with philanthropic or benevolent objectives, owns the database. Donor names, addresses, phone numbers, emails, payment methods, and more were among the details that were made public. In some cases, names and addresses of people identified as youngsters were provided, but it was unclear if these people had anything to do with the charity that received the contribution or the people who received the money. The event emphasises how crucial database security is for safeguarding donor data and reducing the possibility of phishing scams. Read More..

B2B Tech News | 2 years ago          

Coinbase International to Introduce Spot Crypto Trading from December 15

Beginning on December 15, Coinbase plans to extend its reach outside the United States by introducing spot cryptocurrency trading services on its glob

Beginning on December 15, Coinbase plans to extend its reach outside the United States by introducing spot cryptocurrency trading services on its global exchange. After first concentrating on derivatives, the foreign exchange will gradually introduce spot trading, starting with bitcoin and ether against the USDC stablecoin. The move is crucial as it allows Coinbase to learn and gauge demand for spot goods, which might have longterm benefits for the business. This news coincides with growing interest in cryptocurrencies since bitcoin prices have risen significantly this year, and trader mood has improved due to the prospect of a spot exchangetraded fund. Read More..

B2B Tech News | 2 years ago          

Generative AI Startup Mistral AI Teams Up with Google Cloud for Model Distribution

Through their collaboration, Google Cloud and Mistral AI have made it possible for the Parisbased generative AI firm to share its language models acro

Through their collaboration, Google Cloud and Mistral AI have made it possible for the Parisbased generative AI firm to share its language models across Google Clouds infrastructure. As per the deal, Mistral AI will test, develop, and scale up its large language models LLMs using Google Clouds AIoptimized infrastructure, which includes TPU Accelerators. Thanks to this partnership, Mistral AI may now use Google Clouds security and privacy requirements. Founded by former researchers from Meta and Google, Mistral AI has secured 385 million euros in its second fundraising round, placing it in the top tier of AI startups worldwide. Read More..

B2B Tech News | 2 years ago          

RussianLinked Hacking Group Solntsepyok Takes Credit for Cyberattack on Ukraines Kyivstar

A hacker collective, Solntsepyok, thought to be connected to Russian military intelligence GRU, took credit for an attack on Kyivstar, Ukraines bigges

A hacker collective, Solntsepyok, thought to be connected to Russian military intelligence GRU, took credit for an attack on Kyivstar, Ukraines biggest mobile network provider. The attack impacted air raid alarm systems, destroyed IT infrastructure, and interrupted services in several places. Considered a front for the GRUaffiliated Sandworm hacking outfit, Solntsepyok has previously attacked Ukraines energy industry. In the Kyivstar attack, the organisation claimed to have damaged over 10,000 PCs and 4,000 servers. Together with the SBU internal intelligence agency, the State Service of Special Communications and Information Protectorate SSSCIP of Ukraine is looking into the event. Read More..

B2B Tech News | 2 years ago          

British Firms See Slowing Chinese Economy as Bigger Challenge Than COVID Curbs

According to a poll conducted by the British Chamber of Commerce in China, 60% of British businesses believe that a slowing Chinese economy poses a mo

According to a poll conducted by the British Chamber of Commerce in China, 60% of British businesses believe that a slowing Chinese economy poses a more significant obstacle to their operations in the nation than the stringent COVID restrictions that were in place until late last year. According to the poll, British companies are putting off making new investments in China and giving the worlds secondbiggest economy less weight in their worldwide operations. According to the research, 60% of businesses said that conducting business in China had grown more challenging during the previous year, and 78% of those businesses attributed the difficulties to economic considerations. Read More..

B2B Tech News | 2 years ago          

JPMorgan Chase Considers Outsourcing Local Custody Business in Hong Kong and Taiwan

It is believed that JPMorgan Chase intends to outsource the management of its local custody business in Taiwan and Hong Kong, with Standard Chartered,

It is believed that JPMorgan Chase intends to outsource the management of its local custody business in Taiwan and Hong Kong, with Standard Chartered, HSBC, and Citigroup competing for the contract. The action aligns with a previous pattern in which JPMorgan has pulled out of lowermargin local custodian business from other Asia Pacific markets. According to reports, the bank plans to finish switching its local custody operations in Taiwan and Hong Kong to a different bank by the end of the following year, signalling its departure from the local custodian market in the Asia Pacific area. The decrease in assets, which made the local custodian company less profitable, is the reason for the decision. Read More..

B2B Tech News | 2 years ago          



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