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Facebooks Meta posts saw its firstever decline in revenue

Facebooks parent company Meta announced its first quarterly revenue drop on Wednesday. CEO Mark Zuckerberg I expect us to get more done with fewer res

Facebooks parent company Meta announced its first quarterly revenue drop on Wednesday. CEO Mark Zuckerberg I expect us to get more done with fewer resources. Meta also reported an increase in daily Facebook users to 1.97 billion, defying analysts predictions of a drop. But monthly users fell about two million to 2.93 billion. The social media giant said the FTCs decision contradicted reality and said it believed buying Within would be good for VR users. Instagram, owned by Meta, is trying to overturn complaints from users, including celebrities Kylie Jenner and Kim Kardashian, who say the changes have made it look too much like TikTok, including video recommendations. Read More..

B2B Tech News | 3 years ago

U.S. Senate passes legislation to increase chip production and compete with China

The Chips and Science act provides about $52 billion in subsidies for United States semiconductor production and an investment tax credit for chip pla

The Chips and Science act provides about $52 billion in subsidies for United States semiconductor production and an investment tax credit for chip plants estimated to be worth $24 billion. It also authorizes more than $170 billion over five years to boost scientific research to better compete with China. The Chinese Embassy in Washington said China firmly opposed the bill which and it said was entrenched in the Cold War and zerosum game mentality. Most of the funding was slated for new factories that will take two or three years to build. Lawmakers said they normally would not support hefty subsidies for private businesses but agreed that China and the European Union have been awarding billions in incentives. Read More..

B2B Tech News | 3 years ago

Kenya’s Weak Shilling Hurts Supplies to UN Agencies

Last year, local vendors provided the UN with goods and services worth $529.5 million Sh62.8 billion. Since last year, the shilling has been losing gr

Last year, local vendors provided the UN with goods and services worth $529.5 million Sh62.8 billion. Since last year, the shilling has been losing ground against the dollar, losing 5% of its value annually. Kenya, which has more than 22,000 suppliers registered with UNMG, continues to be the top supplier. The supply is worth $2.33 billion Sh272.7 billion. Because supplies were affected by the weak shilling, traders had to spend more to import goods. Read More..

B2B Tech News | 3 years ago

More than half of CIOs want to increase their staff

53% of CIOs are planning to expand their current headcount, while 35% will maintain their headcount. 9% will freeze hiring, and just 2% intend to redu

53% of CIOs are planning to expand their current headcount, while 35% will maintain their headcount. 9% will freeze hiring, and just 2% intend to reduce headcount over the next six months. 73% of employers across all industries think it will be even more challenging to find qualified employees. The report says digital transformation and business expansion agendas are driving hiring demand. The soft skills that are hardest to find, according to Australias CFOs include management expertise 52% project management skills 51%, and commercial acumen 51%. Robert Half Australia managing director David Jones says there have been historically low unemployment and high job vacancy rates over the past 12 months. The current tight labor market is being driven by buoyant job creation and already high participation rates, he says. Read More..

B2B Tech News | 3 years ago

Bank of America, BNY Mellon and Citi, $20 million strategic investment in Genesis Global

Genesis Global declared a new $20 million investment from Bank of America, BNY Mellon, and Citi. It follows the $200 million Series C funding announce

Genesis Global declared a new $20 million investment from Bank of America, BNY Mellon, and Citi. It follows the $200 million Series C funding announced in February. We are excited to work with these partners on many innovative projects, said Stephen Murphy, the companys CEO. By 2021, Genesis will triple its revenue and team size. Financial services organizations use Genesis across the entire software value chain to automate processes, optimize existing systems, replace legacy technologies, and build new, reliable applications for the first time. Citi was first funded in Genesis in late 2020. Read More..

B2B Tech News | 3 years ago

Ireland will appoint fresh data privacy commissioners

Irelands Data Protection Commission DPC is the lead regulator in Europe for tech giants. The DPC has been criticized for long, plodding investigations

Irelands Data Protection Commission DPC is the lead regulator in Europe for tech giants. The DPC has been criticized for long, plodding investigations into big tech multinationals. Pressure has been building for a panEuropean approach to data and privacy protection. The European Data Protection Commissioner for Standards and Markets, Anne Dixon, has said staffing levels need to be increased at the regulator. But she dismissed calls for another two commissioners to be appointed to speed up the processing of backlogs in cases under new EU privacy rules. Read More..

B2B Tech News | 3 years ago

Pony.ai and Sany Heavy Truck in China collaborate to develop autonomous trucks

Pony.ai is forming a strategic joint venture with Sany Heavy Truck to create an autonomous truck brand. Pony.ais virtual driver will work alongside Sa

Pony.ai is forming a strategic joint venture with Sany Heavy Truck to create an autonomous truck brand. Pony.ais virtual driver will work alongside Sanys technical prowess to build automotivegrade selfdriving trucks. The JV, which does not yet have the brand, will begin smallscale deliveries of the robot trucks this year and next, with mass production starting in 2024. The company recently received a taxi license to operate a commercial robotic taxi service in Guangzhou and a license to enable unmanned rides for the public in Beijing. Pony also announced that it had formed another JV with Sinotrans, one of Chinas leading logistics and freight forwarding companies, to build a smart logistics network autonomous technology joint venture, Cyantron, launched in April. Pony said in a statement Thursday that its strategy for unlocking robots is to partner with leading transportation and logistics companies to pave the way for future developments, so we should look forward to more joint ventur Read More..

B2B Tech News | 3 years ago

South Africa turns to renewable energy, gas and batteries to end power cuts.

South African President Cyril Ramaphosa has promised to end the countrys frequent blackouts by investing in renewable energy, gas and batteries. Witho

South African President Cyril Ramaphosa has promised to end the countrys frequent blackouts by investing in renewable energy, gas and batteries. Without a stable supply of electricity for over 10 years, South Africans are naturally frustrated and angry, he said. The opposition Democratic Alliance said the plan was taken straight from the prosecutors playbook and should have been presented much earlier. South Africa has set a goal of net zero by 2050 and is negotiating a groundbreaking just transition deal with rich countries. A call for proposals for battery storage that can store renewable energy when needed will be published in September. Licensing requirements for renewable energy are waived, and homes and businesses can sell rooftop solar to the grid. Read More..

B2B Tech News | 3 years ago

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1. Global online sales are predicted to reach 22% of all retail sales in 2023.
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