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Citigroup Considers Significant Workforce Reductions Amid CEOs Overhaul

Citigroup is considering significant job cuts of at least 10% in various major business areas as part of CEO Jane Frasers reorganization plan, accordi

Citigroup is considering significant job cuts of at least 10% in various major business areas as part of CEO Jane Frasers reorganization plan, according to sources cited by CNBC. The restructuring, referred to internally as "Project Bora Bora," aims to simplify the bank and enhance its stock performance. While the discussions are in early stages and the exact number of job cuts may change, the bank has already reduced management layers and committees. Citis global headcount currently stands at 240,000 employees. Fraser has been leading efforts to improve profits and address regulatory issues since taking over in 2021, although the banks stock performance has not yet matched its peers. Read More..

B2B Tech News | 2 years ago          

Japanese Labor Groups Seek Significant Wage Hikes in Face of Wage Decline

In September, Japan witnessed an 18month consecutive decline in real wages and a sustained drop in consumer spending. Increasing prices have eroded th

In September, Japan witnessed an 18month consecutive decline in real wages and a sustained drop in consumer spending. Increasing prices have eroded the purchasing power of households, raising the pressure on labor groups to push for higher wages. These wage trends are closely observed by financial markets, and the Bank of Japan sees substantial pay increases as vital to ease its loose monetary policy. Inflationadjusted real wages fell by 2.4% in September compared to the previous year, with a slight improvement from a 2.8% drop the previous month. The consumer inflation rate used for calculating real wages, which includes food but excludes rent, slowed to 3.6%, the lowest in a year. Read More..

B2B Tech News | 2 years ago          

Bitcoin Makes Remarkable Comeback, Reaching 18Month Price High

Bitcoin has more than doubled in value this year, rebounding from a turbulent 2022. It recently reached around $35,000, the highest level in 18 months

Bitcoin has more than doubled in value this year, rebounding from a turbulent 2022. It recently reached around $35,000, the highest level in 18 months, following a 64% drop last year. Anticipations of the U.S. SEC approving cryptocurrency ETFs after a decade of consideration have contributed to a 25% rally in the past two weeks. A federal appeals court decision favored Grayscale Investments in its ETF creation. Despite potential shortterm price fluctuations, Bitcoin is expected to rise in the long term, as stated by James Butterfill, head of research at CoinShares. Read More..

B2B Tech News | 2 years ago          

Amazon Business Partners with ‘Affirm’ to Offer Easy Financing Options for SMBs

Starting from November 2, Amazon Business is offering Affirm as a payment option for eligible sole proprietor enterprises. This feature will be access

Starting from November 2, Amazon Business is offering Affirm as a payment option for eligible sole proprietor enterprises. This feature will be accessible to all qualifying Amazon Business customers by Black Friday. When users choose Affirm at checkout, they provide some basic information and receive an immediate credit decision. Approved customers can select installment payment plans ranging from three to 48 months. This collaboration with Affirm aims to provide financing solutions for small to mediumsized businesses SMBs seeking alternative funding sources, as many face challenges accessing traditional financing. Amazon Business is expanding its partnership with Affirm to offer greater convenience and flexibility to SMBs. Read More..

B2B Tech News | 2 years ago          

NimbusPost Empowers Small Businesses with AIPowered Global Shipping Services

The holiday season is crucial for ecommerce and D2C brands, but it also brings order surges that stress courier partners, especially for MSMEs engaged

The holiday season is crucial for ecommerce and D2C brands, but it also brings order surges that stress courier partners, especially for MSMEs engaged in global imports. To address these challenges, NimbusPost, a techdriven shipping aggregator, has launched import services from Far East countries to India, focusing on China, Hong Kong, South Korea, and Singapore. They use AI, machine learning, and automation to simplify logistics, help clients choose suitable couriers, and offer tools to reduce nondelivery reports. NimbusPost plans to expand into logistics markets in the US, Australia, Singapore, Dubai, and other Southeast Asian countries. Read More..

B2B Tech News | 2 years ago          

Russian Oil Cuts 300,000 Barrels a Day Reduction Continues Until Year End

Russia will extend its voluntary oil export cuts by 300,000 barrels per day until the end of 2023, as announced by Deputy Prime Minister Alexander Nov

Russia will extend its voluntary oil export cuts by 300,000 barrels per day until the end of 2023, as announced by Deputy Prime Minister Alexander Novak. These cuts began in September and October and will continue through late December 2023. Additionally, a market analysis will determine whether to continue or increase these cuts in the future. Russia initially reduced oil production by 500,000 barrels per day in April 2023, which will persist until late December 2024. These cuts aim to support OPEC+ efforts to stabilize oil markets. The decision to extend and expand these cuts followed various meetings and discussions throughout the year. Read More..

B2B Tech News | 2 years ago          

OpenAI Leaks Hint at ChatGPTs New GPT Builder and Gizmo Tool Features

Since November 2022, ChatGPT has gained popularity for its rapid content generation and growth, including multimodal capabilities and the introduction

Since November 2022, ChatGPT has gained popularity for its rapid content generation and growth, including multimodal capabilities and the introduction of ChatGPT Plus. OpenAI has recently added features allowing PDF and file uploads, as well as automatic tool switching. Rumors suggest that ChatGPT may soon introduce a "GPT Builder" feature, enabling users to create and customize AI chatbots with language, tone, and writing style settings. Users can test and modify the chatbots behavior through conversations and share them. The GPT Builder may also generate chatbot profile pictures using DALL.E. Additionally, another feature called "Gizmo tool" is expected to allow users to import, modify, and test existing chatbots, define custom actions, and utilize various tools for image creation and web browsing, with the option to save, publish, and share created chatbots. Read More..

B2B Tech News | 2 years ago          

Alibabas Ant Group Takes AI to New Heights with Bailing Language Model

Alibabas affiliate, Ant Group, has gained Chinese government approval to launch products using its Large Language Model LLM called Bailing for artific

Alibabas affiliate, Ant Group, has gained Chinese government approval to launch products using its Large Language Model LLM called Bailing for artificial intelligence AI applications, as reported by Reuters. Alibaba has been actively involved in the AI sector, with recent launches of AI models like QwenVL and QwenVLChat. These models are opensource and capable of various tasks. Ant Group has also introduced its financial LLM and other AI programs. The company, after receiving regulatory clearance, opened its AI model for public use and partnered with firms like Oppo, Taobao, and DingTalk. Ant Groups upcoming Bailing LLMbased products are expected to strengthen its position in the AI industry. Read More..

B2B Tech News | 2 years ago          



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