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TSMC Outperforms Expectations with 25% Profit Drop

After a yearlong downturn, Taiwanese chipmaker TSMC revealed a betterthanexpected 25% fall in Q3 net profit, suggesting a possible rebound in the glob

After a yearlong downturn, Taiwanese chipmaker TSMC revealed a betterthanexpected 25% fall in Q3 net profit, suggesting a possible rebound in the global semiconductor market. This is consistent with a pattern observed in rival Samsungs Q3 earnings. But heed the warning supplier ASML predicted flat revenues in 2024 due to chipmakers reluctance to make fresh expenditures. Surpassing projections, TSMCs net profit decreased to T$211 billion. Of total sales, 42% came from highperformance computing. Notwithstanding obstacles posed by a complicated geopolitical environment and the companys lower capital spending, its shares have increased 22% this year, increasing its market worth to $432.3 billion. Read More..

B2B Tech News | 2 years ago          

Nokia Announces Bold Job Cuts Amid 20% Sales Drop

The thirdquarter sales decline of Finnish telecom giant Nokia NOKIA.HE was mainly caused by lower demand for 5G equipment in the US. As a result, the

The thirdquarter sales decline of Finnish telecom giant Nokia NOKIA.HE was mainly caused by lower demand for 5G equipment in the US. As a result, the company announced a primary costcutting measure that might result in losing up to 14,000 jobs. Nokia wants to save between €800 million and €1.2 billion by 2026 to reach its longterm operating margin target of 14%. With this reorganisation, there will be 72,000–77,000 fewer workers than previously 86,000. Though it was anticipated that the fourth quarter would improve, Ericsson ERICb.ST, also confronting comparable difficulties, stated that uncertainty will continue to affect its operations beyond 2024. Read More..

B2B Tech News | 2 years ago          

Honda and GM Forge Alliance for Japanese Driverless Rides by 2026

By early 2026, Honda and General Motors GM will collaborate to introduce a driverless ride service in Japan through Cruise, GMs autonomous vehicle div

By early 2026, Honda and General Motors GM will collaborate to introduce a driverless ride service in Japan through Cruise, GMs autonomous vehicle division. Subject to regulatory approval, the joint venture is anticipated to be launched in the first half of 2024. Intending to commercialise autonomous vehicles on a large scale in Japan, Cruise presently provides restricted ride services in San Francisco. The service is scheduled to launch with dozens of Cruise Origin cars in central Tokyo and eventually grow to a fleet of 500. Riders will be able to book rides and pay via a smartphone app. The business is still dedicated to guaranteeing safety in autonomous vehicle technology, even after a recent safety investigation into Cruises activities. Read More..

B2B Tech News | 2 years ago          

Amazons Drone Fleet Touches Down in the UK and Italy

Amazon intends to deploy drone deliveries in the UK, Italy, and another US city, further revolutionising its delivery services. The online retailer is

Amazon intends to deploy drone deliveries in the UK, Italy, and another US city, further revolutionising its delivery services. The online retailer is currently working to grow its Prime Air programme, and these aerial deliveries are a part of that endeavour. By late 2024, customers in these areas should be able to choose to have packages delivered by drones. Amazon plans to quickly implement drone deliveries from sameday delivery facilities into its current fulfilment network. Amazons dronebased service, Prime Air, debuted in two US cities last year—Texas and California—and will soon expand to more locations. It is a part of Amazons longterm plan to use drone technology to transport packages faster and more efficiently in 2020, the federal government approved the technology for testing commercial delivery. Read More..

B2B Tech News | 2 years ago          

Elon Musk Contemplates Twitter Exit Amidst EU Regulations

The owner of social media behemoth X, Elon Musk, is considering kicking the oncenamed Twitter service out of Europe. This judgement is a reaction to t

The owner of social media behemoth X, Elon Musk, is considering kicking the oncenamed Twitter service out of Europe. This judgement is a reaction to the Digital Services Act DSA, which the European Union recently adopted in August. To stop the spread of dangerous content and usertargeting tactics, the DSA places restrictions on digital platforms. Musk has talked about taking the app offline in the area or preventing users in the EU from using it. There is uncertainty regarding the platforms future in Europe as X has yet to reply to requests for comment. Read More..

B2B Tech News | 2 years ago          

Meta Platforms Unveils GameChanging Broadcast Channels

Broadcast channels will be added to Facebook and Messenger by Meta Platforms previously Facebook, enabling the public dissemination of user messages.

Broadcast channels will be added to Facebook and Messenger by Meta Platforms previously Facebook, enabling the public dissemination of user messages. This action is a component of initiatives to improve user interaction and contend in the fiercely competitive internet market. It comes after an analogous feature rollout on Instagram and WhatsApp Channels, currently accessible in more than 150 countries. This discovery occurred when the competing messaging service Telegrams broadcast channels greatly aided communication during the IsraelHamas conflict. With intentions to launch the feature in the upcoming weeks, Meta is now testing it for Pages. Read More..

B2B Tech News | 2 years ago          

Oracles NetSuite Revolutionizes Finance with AI Text Enhancement

Under Oracles ownership, NetSuite integrates generative AI into its finance software to enable automated processes like creating collections letters a

Under Oracles ownership, NetSuite integrates generative AI into its finance software to enable automated processes like creating collections letters and controlling back ordered supplier purchases. This "Text Enhance" function uses AIs capacity to read and produce text that resembles a humans, depending on prompts. It seeks to simplify financial department work by automatically generating emails using information from NetSuites systems, such as unpaid balances, pastdue payments, and reminders of upcoming discounts. It may also analyse financial data to provide reports and summaries, increasing efficiency without replacing jobs. Over six months, these capabilities will be introduced, and higher usage levels may result in increased expenses. Read More..

B2B Tech News | 2 years ago          

Singapore Regulators Investigate Credit Suisse Wealth Monitoring

A local branch of Credit Suisse will be the subject of an onsite examination by the Monetary Authority of Singapore MAS to examine how it handles the

A local branch of Credit Suisse will be the subject of an onsite examination by the Monetary Authority of Singapore MAS to examine how it handles the surveillance of wealthy clients. This action comes after ten foreign nationals were detained in Singapore in a big money laundering case involving $2 billion worth of assets. In the upcoming weeks, MAS officials will analyse papers and interview bank employees from Credit Suisse and other institutions. An inquiry has been conducted to guarantee adequate compliance and adherence to regulations. MAS and Credit Suisse still need to provide comments on the subject. This demonstrates the increasing scrutiny of the banking industry. Read More..

B2B Tech News | 2 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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5.  Approximately 8 billion gadgets connect on the internet every day.
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