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Superdry Shares Surge 18% with Reliance Retails Asian Acquisition

The licences and brand assets of the UKbased Superdry in three Asian countries will be purchased by Reliance Retail, the biggest retailer in India, fo

The licences and brand assets of the UKbased Superdry in three Asian countries will be purchased by Reliance Retail, the biggest retailer in India, for £40 million $48 million. Following the announcement, which revealed plans to use the £28.3 million net proceeds to bolster liquidity and fund its turnaround strategy, Superdrys shares increased by 18%. This agreement spans Sri Lanka, Bangladesh, and India through a joint venture and incorporates Superdrys investments. Mukesh Ambani is the CEO of Reliance Retail, which has more than 18,000 locations and collaborates with several international companies. Firm orders have been a problem for Superdry, but this agreement will help it concentrate on its core markets. Read More..

B2B Tech News | 2 years ago          

UK Startup Revolutionizes Car Sales with Online Marketplace

An online marketplace approach similar to eBay has been implemented by UK company Motorway, allowing users to sell used vehicles to dealers directly.

An online marketplace approach similar to eBay has been implemented by UK company Motorway, allowing users to sell used vehicles to dealers directly. The programme, which was established in 2017, enables auto sellers to upload images for dealers to bid on in daily auctions. Motorway doesnt own any automobiles, in contrast to rivals like Carvana or Cazoo. As the physical auctions ended, the pandemic expanded more quickly. To double its auctions to £1.7 billion $2.06 billion in 2022, it sells up to 1,500 old automobiles daily. Motorway charges sellers a fee and has received more than $250 million from investors. It has intentions to grow abroad and perhaps go public. Read More..

B2B Tech News | 2 years ago          

YCombinatorBacked Rider Eyes Acquisition of Pakistans BlueEx

The only publicly traded Express Courier Logistics Company in Pakistan, BlueEx, is being considered for acquisition by Pakistani ecommerce logistics c

The only publicly traded Express Courier Logistics Company in Pakistan, BlueEx, is being considered for acquisition by Pakistani ecommerce logistics company Rider, which has YCombinators support. Due to difficulties finding investment globally and other economic and political problems, venture funding in Pakistan has substantially decreased, falling to $6.8 million in the third quarter of 2023, a decline of 87.7% YoY. Salman Allana, the CEO of Rider, made it clear that they are only purchasing BlueExs ecommerce logistics division and not the complete Universal Network System Limited. If successful, this move would be the first time a startup has acquired a publicly traded company and the first significant acquisition on Pakistans Growth Enterprise Market GEM board. Read More..

B2B Tech News | 2 years ago          

German Cartel Office Nudges Google Towards Data Control

Google has agreed to change its user data practises to respond to a German antitrust investigation into its datadriven market dominance. The German ca

Google has agreed to change its user data practises to respond to a German antitrust investigation into its datadriven market dominance. The German cartel office expressed concerns about Google consumers lack of adequate options about the widespread use of their data across the companys services. Thanks to Googles commitment across several services, including Gmail, Google News, and Google TV, users will have more control over their data. The revisions would not impact services like Google Search and YouTube, which the EUs Digital Markets Act protects. Since gaining more investigation jurisdiction in 2021, the German competition authority has increased its monitoring of big tech companies, including Amazon, Meta Platforms, and Apple. Read More..

B2B Tech News | 2 years ago          

Apple Mulls DuckDuckGo as Safaris Private Search Partner

According to Bloomberg News, Apple has reportedly started negotiations with DuckDuckGo to replace Google as the default search engine for private brow

According to Bloomberg News, Apple has reportedly started negotiations with DuckDuckGo to replace Google as the default search engine for private browsing on Apples Safari browser. These discussions follow an antitrust case filed by the federal government against Google. Notably, Judge Amit Mehta allowed the testimony of Apple executive John Giannandrea and DuckDuckGo CEO Gabriel Weinberg to be made public as part of this case, potentially disclosing further information about the negotiations. Additionally, according to the US Department of Justice, Google has been accused of illegally paying smartphone producers like Apple to maintain its position as the default search engine. Despite these attempts, Apple continued to use Google as the default search engine on its devices. Google, Apple, and DuckDuckGo have all remained silent regarding the subject. Read More..

B2B Tech News | 2 years ago          

Fujitsu and Riken Unveil Japans 64Qubit Quantum Marvel

The second 64qubit quantum computer in Japan has been launched by Fujitsu and Riken, concentrating on realworld uses for quantum technology. It will b

The second 64qubit quantum computer in Japan has been launched by Fujitsu and Riken, concentrating on realworld uses for quantum technology. It will be linked with a 40qubit quantum computer simulator to improve the precision of quantum systems. Even while this accomplishment is noteworthy, the head of Fujitsus quantum lab realises there is still a long way to go. Considering that quantum computing has the potential to be millions of times faster than supercomputers, governments and tech behemoths like IBM and Alphabet are investing substantially in the field. China, the U.S., and other democracies compete in this international technological race. Additionally, President Joe Biden wants to limit American funding for Chinese quantum programmes. Read More..

B2B Tech News | 2 years ago          

SSA Reveals Hidden Cyber Attack Linked to MI6 and CIA

State Security Agency SSA thinks that the US CIA and Britains MI6 have planned a significant cyberattack that it has been hiding from the public for o

State Security Agency SSA thinks that the US CIA and Britains MI6 have planned a significant cyberattack that it has been hiding from the public for over a month. The SSA argues that the cyber attack targeted South Africa, Russia, and India in August, just before the BRICS Summit, and might be that the hackers gained access to essential data. The attacks earliest victims were Russia and India. Insiders speculate that the hackers might have had help from within. They kept the episode under wraps because it was embarrassing and it might have compromised important information. The hackers identity is still unclear, and American and Russian intelligence are under suspicion. Read More..

B2B Tech News | 2 years ago          

Japanese Yens Rollercoaster Ride Sparks Government Speculation

Recent fluctuations in the value of the Japanese yen have led to talk of possible government action. In American trading, it briefly exceeded 150 yen

Recent fluctuations in the value of the Japanese yen have led to talk of possible government action. In American trading, it briefly exceeded 150 yen to the dollar before quickly changing direction and strengthening to 147.30. Japanese officials have verified no intervention, and neither Tokyos chief currency diplomat nor finance minister have made any direct statements. Tokyo intervened to purchase yen in September and October last year, causing the yen to drop to a 32year low of 151.94 yen per dollar. The yield on 10year Treasury bonds and Japanese government bonds are affected as investors respond to increased interest rates due to the ongoing global bond selloff. Due to these factors, a riskaverse European session is anticipated, with weaker futures. Republican lawmakers in the United States dismissed Speaker Kevin McCarthy. Read More..

B2B Tech News | 2 years ago          



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