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☆ UBS deal to buy Credit Suisse is not a bailout but a 'financial crutch,' consultancy says
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS deal to buy Credit Suisse is not a bailout but a 'financial crutch,' consultancy saysCyrus Daruwala of IDC Financial Insights discusses UBS' deal to buy Credit Suisse in a $3.2 billion takeover.

☆ Asia's regulators say banking system is robust and stable after UBS-Credit Suisse takeover deal
▼ + stars: | 2023-03-20 | by ( Sumathi Bala | ) www.cnbc.com time to read: +3 min

Last week, Credit Suisse logged their worst weekly decline since the onset of the coronavirus pandemic. Hong Kong says industry is resilientThe Hong Kong Monetary Authority said the city's banking sector is resilient with strong capital and liquidity positions. "The total assets of Credit Suisse, Hong Kong Branch amounted to about HK$100 billion, representing less than 0.5% of the total assets of the Hong Kong banking sector. Credit Suisse customers will continue to have full access to their accounts and "contracts with counterparties remain in force. Japan banks 'shielded'As for Japan, the country's banking system is unlikely to be affected by the deal, said Cyrus Daruwala, managing director of IDC Financial Services.

☆ France's OVH expands into India amid growing cloud adoption
▼ + stars: | 2023-03-20 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

March 20 (Reuters) - French software firm OVHcloud (OVH.PA) has launched its first data centre in India as it expands in the Asia-Pacific region aiming to capitalise on growing cloud adoption amid heightened concerns over data privacy, it said on Monday. The new data centre in Mumbai will provide Indian businesses with local computer and storage infrastructure to meet changing data compliance needs as India digitalises and pushes for more data protection, OVH said. "The Indian market is a very...fast-growing market," CEO Michel Paulin told Reuters, adding OVH had already sold a few hundred servers. "We will continue to recruit in India," Paulin said, adding OVH had created jobs last year in Mumbai to prepare the launch and implement the technical infrastructure. But the need for digital and cloud solutions was still there, Paulin said.

☆ Surge pricing is increasingly being used in restaurants and movie theaters, making everyday activities much more expensive
▼ + stars: | 2023-03-14 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

Dynamic pricing is being used to set prices for activities beyond ridesharing and concert tickets. Experts warned businesses would most likely implement surge pricing in response to the pandemic. "This strikes me as outrageous for a pedestrian family activity," Yenni told the Journal. Insider previously reported that AI-driven dynamic pricing is making its way through business sectors like retail and grocery stores to keep up with changing market demands post-Covid. A startup meant to help restaurants set their own surge prices has also been created, and has helped some establishments double their profits, Insider's Nancy Luna reported.

☆ Google got a pandemic boost for its Workspace software but blew it, insiders say. Now it plans to attack Microsoft with a new push in AI.
▼ + stars: | 2023-03-14 | by ( Rosalie Chan | Hugh Langley | ) www.businessinsider.com time to read: +14 min

Google Cloud CEO Thomas Kurian spent much of his time at a partner meeting talking about Workspace, tweeted Tony Safoian, CEO of Google Cloud partner SADA Systems. "Around the globe, more than nine million paying organizations, and more than three billion users rely on Google Workspace for communication and collaboration. Other major customers like Deutsche Bank use Google Cloud for cloud infrastructure, but Microsoft Office for collaboration software. Forty-four percent of software procurers whose organization plans to or currently uses Microsoft's collaboration software also use Google Workspace, according to the 2022 Forrester study. While Google Cloud is still unprofitable, it has decreased losses to $480 million, down from $890 million last year.

Google , Netflix , Meta , Apple , Amazon and Microsoft generate nearly half of all internet traffic today. Big Tech firms say this would amount to an "internet tax" that could undermine net neutrality. They bemoaned spending billions on laying cables and installing antennas to cope with rising internet demand without corresponding investments from Big Tech. One suggestion is to require individual bargaining deals with the Big Tech firms, similar to Australian licensing models between news publishers and internet platforms. "The imbalance is not down to Big Tech, it's not down to streamers, and it's not down to telcos.

☆ SAP introduces SAP Datasphere and partnerships with Collibra, Confluent, DataRobot, and Databricks to simplify customers' data landscape
▼ + stars: | 2023-03-09 | by ( Sponsor Post | Created Sap With Insider Studios | ) www.businessinsider.com time to read: +6 min

SAP announced SAP Datasphere, the next generation of its data management portfolio, which gives customers easy access to business-ready data across the data landscape. SAP DatasphereAvailable today, SAP Datasphere is the next generation of SAP Data Warehouse Cloud. With a unified experience for data integration, data cataloging, semantic modeling, data warehousing, data federation, and data virtualization, SAP Datasphere enables data professionals to easily distribute mission-critical business data — with business context and logic preserved — across their organization's data landscape. SAP Datasphere is built on SAP Business Technology Platform (BTP), which includes strong enterprise security capabilities such as database security, encryption, and governance. Databricks customers can integrate their Data Lakehouse with SAP so data can be shared with semantics preserved, helping customers simplify their data landscape.

☆ U.S. reviewing China's Inspur Group entity listing
▼ + stars: | 2023-03-07 | by ( Karen Freifeld | ) www.reuters.com time to read: +1 min

March 7 (Reuters) - The United States is reviewing China's Inspur Group Co Ltd's entity listing and will update it as appropriate, a spokesperson for the U.S. Department of Commerce said. The United States last week added Inspur to its trade blacklist for allegedly acquiring U.S.-origin items in support of the China's military modernization efforts. The listing means that companies cannot sell Inspur items like semiconductors, which are made with U.S. tools, unless they apply for and get licenses, which are likely to be denied. Nvidia Corp (NVDA.O), Advanced Micro Devices Inc (AMD.O) and other U.S. firms are racing to assess whether they must halt sales to units of China's Inspur Group Ltd after its addition to the list. Reporting by Karen Freifeld; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

March 7 (Reuters) - Nvidia Corp (NVDA.O), Advanced Micro Devices Inc (AMD.O) and other tech firms are scrambling to assess whether they must halt sales to units of China's Inspur Group Ltd after its addition to a U.S. export blacklist last week. The United States last week added Inspur to its trade blacklist for allegedly acquiring U.S.-origin items in support of the China's military modernization efforts. Executives from AMD and Nvidia were questioned about dealings with Inspur Group Co Ltd. at an investor conference on Monday. An Nvidia spokesperson declined to comment beyond her remarks. An AMD spokesperson did not return a request for additional comment on AMD Chief Technology Officer Mark Papermaster's remarks made at the same conference.

☆ As Apple rumors swirl, Chinese rivals launch foldable smartphones to challenge Samsung
▼ + stars: | 2023-03-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The near $1,700 device is Honor's attempt to challenge Samsung in the foldable smartphone market. Foldables hit global marketSamsung launched its first foldable phone in 2019 and really created this category of smarpthones. The Galaxy Fold series opens outwards like a book, while the Galaxy Z Flip opens up like a traditional flip phone. The market expects foldable phone shipments to jump 111% year-on-year to 30 million in 2023. It comes as speculation rises that Apple could be gearing up to launch a foldable device, though it may be an iPad rather than a smartphone.

☆ How to invest in the ChatGPT-driven AI boom: Credit Suisse shares 6 stocks they're labeling as "top picks" as their exposure to AI development opens them up to new revenue streams
▼ + stars: | 2023-03-05 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Badri's price 12-month price target for shares of Microsoft is $285. The analysts said that growing AI use cases will help Taiwan Semiconductor Manufacturing Company and their high performance computing business, which has already doubled since 2016. Credit Suisse's 12-month price target for the stock is $330, which is upside of 16%. Chou has a price target of NT$1,100 for the stock, meaning 13.5% upside. Both Taiwan Semiconductor Manufacturing Company and Baidu are traded on US exchanges, while Accton and Wiwynn are traded in Taiwan.

☆ Huawei spin-off Honor takes aim at Samsung in foldables; shrugs off U.S. sanction concerns
▼ + stars: | 2023-03-03 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

The Honor Magic Vs is on display at Honor's stand at Mobile World Congres in Barcelona. The near $1,700 device is Honor's attempt to challenge Samsung in the foldable smartphone market. Honor takes aim at Apple and SamsungHonor launched its Magic Vs foldable phone outside of China this week, with a price tag of nearly $1,700. Honor had a large poster for the Magic Vs with the tagline: "Unfold your magic." "Our ambition and target is develop the best foldable phone, so be the number one technology for foldable phones.

☆ Artificial intelligence is on the brink of an 'iPhone moment' and can boost the world economy by $15.7 trillion in 7 years, Bank of America says
▼ + stars: | 2023-03-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Bank of America strategists predicted artificial intelligence will revolutionize everything as it teeters on its "iPhone moment." Bank of AmericaLarge language models like ChatGPT make massive amounts of information accessible to everyone, without high barrier to entry or required training. In addition, the exponential rate of technological development suggests that, within a decade, AI models could be a million times more powerful than they are today. Meanwhile, UBS is forecasting that the artificial intelligence hardware and services market will reach $90 billion by 2025. In 2020, it was worth about $36 billion, per IDC and Bloomberg Intelligence data.

☆ Premium segment of global smartphone market appears resilient: IDC
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPremium segment of global smartphone market appears resilient: IDCBryan Ma from IDC says economic headwinds, including inflation pressure are major risks to global smartphone market this year, but reopening trends, especially in China may bring positive surprise to the market.

☆ AI is set to boom into a $90 billion industry by 2025 as ChatGPT generates investment frenzy, UBS Wealth Management CIO says
▼ + stars: | 2023-02-28 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

UBS predicted that the artificial intelligence hardware and services market will hit $90 billion by 2025. "We think the early success for chatbots could drive attract more technology talent, and drive faster adoption by enterprises and governments," UBS said. "We think the early success for chatbots could drive attract more technology talent, and drive faster adoption by enterprises and governments," Marcelli added. The market forecast predicates itself on AI being a "horizontal technology," meaning that it has important use cases across various industries. Investors are taking advantage of the frenzy, with a boost in share price for certain companies that integrate or use AI.

☆ Chinese smartphone giant Xiaomi takes aim at Samsung and Apple with latest $1,000 device
▼ + stars: | 2023-02-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Xiaomi is trying to push into the high end of the smartphone market with the Xiaomi 13 Pro. Xiaomi launched its flagship smartphone globally on Sunday as the Chinese electronics giant attempts to take a slice of the high-end market and challenge Apple and Samsung . The Xiaomi 13 and 13 Pro were originally launched in China in December, but now the Beijing, China-headquartered company is bringing the devices to markets overseas. The Xiaomi 13 Pro device sports a 6.73-inch display and the latest Snapdragon 8 Gen 2 chipset from U.S. firm Qualcomm . The Xiaomi 13 starts at 999 euros ($1,053) while the 13 Pro starts at 1,299 euros.

☆ South Korea's new 'stealthy' fighter jet just hit a supersonic milestone
▼ + stars: | 2023-02-17 | by ( Maya Carlin | ) www.businessinsider.com time to read: +4 min

South Korea's KF-21 Boramae "Fighting Hawk" made its first supersonic flight in January. Roughly 65% of the KF-21's parts are domestically produced, a major feat for South Korea. Positioned near the PRC and the Hermit Kingdom, South Korea considers aerial-defense capabilities to be paramount to its security. ReutersDespite its advanced electronics capabilities, Seoul refers to its KF-21 fighter as a 4.5-generation fighter. The Boramae's recent test flight makes Seoul the eighth nation to produce a supersonic fighter.

☆ Chinese smartphone giant Oppo launches foldable flip phone as it bets on high-end market
▼ + stars: | 2023-02-16 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The Oppo Find N2 Flip is a foldable smartphone that has a screen on the outside too. Oppo is looking to boost its position in the premium smartphone market with the £849 ($1024) device. Oppo launched a foldable flip phone for international markets, as the Chinese smartphone maker looks to boost its business outside of China. The Find N2 Flip marks Oppo's push to make a dent in the premium segment of the smartphone market and in the nascent foldable phone category. The Find N2 Flip, which was launched on Wednesday, folds in the middle like a traditional flip phone and boasts two screens.

☆ Apple patent adds to hype around foldable device from the iPhone maker
▼ + stars: | 2023-02-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

However, iPhone shipments declined 14.9% year on year. Apple's latest patent is adding to anticipation that the iPhone maker could be on the cusp of launching a foldable device. Apple is yet to introduce a foldable iPhone or any device, unlike competitors such as Samsung. Analysts at UBS said in a note published Tuesday that the patent "could indicate a foldable device is a possibility but not this year." The analysts said that a foldable smartphone "could be an incremental opportunity for future generation iPhone models."

☆ TripActions Rebrands as Navan, Adds ChatGPT to Expense Reports
▼ + stars: | 2023-02-07 | by ( Angus Loten | ) www.wsj.com time to read: +6 min

TripActions, a business-travel software startup, plans to integrate OpenAI’s ChatGPT capabilities across its online platform, an effort aimed at seizing market share by making expense reports easier to use. That way, the expense report is generated during the trip as expenses are incurred, Mr. Cohen said. “Generally, software in the business-to-business space is designed to serve the company,” rather than the employees, Mr. Cohen said. “Using AI helps you create the kind of software that I’m talking about,” Mr. Cohen said. PREVIEWSAP Concur has also begun using AI in its travel and expense software, which can “tap decades of expense data and experience tracking to identify hard-to-detect spend issues and anomalies,” said Charlie Sultan, president of Concur Travel.

☆ Retailers in China enact rare price cuts for Apple's high-end iPhone 14 line
▼ + stars: | 2023-02-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Retailers in China including JD.com and Suning have cut the price of Apple's iPhone 14 Pro and Pro Max. Major retailers in China slashed the price of Apple's high-end iPhone 14 models amid a slump in smartphone demand in the world's second-largest economy. The basic iPhone 14 Pro Max is listed for 8,199 yuan after an 800 yuan reduction. Suning, another major retailer, is selling the basic model of the iPhone 14 Pro for 7,199 after discounts and the iPhone 14 Pro Ma for 8,199. The iPhone 14 Pro starts at 7,999 yuan and the Pro Max starts at 8,999.

☆ From Nike to Nutella: Company names you have probably been mispronouncing your whole life
▼ + stars: | 2023-02-06 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

Global company names often get Anglicized or Americanized to the point where they're unrecognizable, but brands could see some benefits if their names are pronounced correctly. Allianz: al-ee-anz"Allianz " is, perhaps unsurprisingly, the German word for "alliance." It isn't pronounced like the ancient Greek herald of the gods, Hermes, unlike the U.K. delivery company of similar spelling. Moët & Chandon: mow-et ey shon-donIn contrast to typical French pronunciation, there is a hard "T" sound at the end of "Moët." Heuer is the last name of the company's founder, Edouard Heuer.

☆ Dell to lay off 6,650 workers, or 5% of its workforce
▼ + stars: | 2023-02-06 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Dell on Monday announced plans to lay off 5% of its workforce, or about 6,650 employees, according to an SEC filing. As of Jan. 28, 2022, Dell had 133,000 total employees, according to a company filing with the SEC. In the memo to employees, Clarke said Dell has navigated economic downturns before, and "emerged stronger" as a result. The company's layoffs announcement marks the latest round of job cuts in the tech industry, as PayPal announced plans to cut 2,000 jobs Tuesday. Earlier this month, Google announced plans to lay off more than 12,000 workers, Microsoft announced plans to cut 10,000 employees and Salesforce announced plans to lay off 7,000 workers.

The chipmaker forecast current quarter revenue in the range of $8.7 billion to $9.5 billion, compared with analysts' estimates of $9.55 billion, according to Refinitiv data. Its fiscal first quarter revenue dropped 12% year-on-year to $9.46 billion, below Wall Street expectation of $9.60 billion as Qualcomm also grapples with weak demand for smartphones and a supply glut. Smartphone chip firms including Apple supplier Qorvo (QRVO.O) forecast downbeat earnings as its customers continued to clear bloated inventory. Analysts at Cowen expect smartphone shipments will fall 4% this year as recovery in China demand will take some time following a big COVID-19 outbreak. It expects adjusted earnings per share to be between $2.05 and $2.25, compared to analysts expectations of $2.26 per share.

☆ Qualcomm revenue falls 12%, guidance implies more pain this quarter
▼ + stars: | 2023-02-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Here's how the company did:Earnings: $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv. $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv. Revenue: $9.46 billion, vs. $9.60 billion as expected by analysts, according to Refinitiv. Qualcomm's overall revenue decreased 12% year over year in the quarter, which ended Dec. 25, according to a statement. In the quarter Qualcomm and Renault Group announced an extension of their collaboration and said Qualcomm would invest in Ampere, the automaker's electric and software company.

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