Bloomberg Tech

African startups raised a record $5.3 billion last year, though that may be the high-water mark as a deepening slump in the technology industry reduces the funding pool.

Risks to South Asia’s growth may rise if inflation persists amid sustained price pressures in the region, according to Reserve Bank of India Governor Shaktikanta Das.

(Bloomberg) — Several big solar-panel makers are ramping up production in a boon to clean energy. A key reason: the collapse of material costs that had been elevated for more than a year.

Stellantis NV may idle additional car manufacturing plants as it grapples with higher inflation on top of the cost of electrifying its lineup, Chief Executive Officer Carlos Tavares said.

(Bloomberg) — Samsung Electronics Co.’s profit dropped by the most in over a decade, in a sign that the global economic slowdown may be hurting electronics demand even more than anticipated.

(Bloomberg) — Japan wants the Group of Seven advanced economies to take a coordinated approach this year aimed at preventing the “economic coercion” that China has applied to some of its trading partners.

Tensions have escalated in a simmering dispute between two crypto lending rivals, both facing the steep downturn in the digital asset market. In an open letter Thursday, Nexo Capital Inc. accused troubled crypto startup Vauld of not acting in the best interests of its creditors.

(Bloomberg) — Samsung Electronics Co.’s profit dropped by 69% in its worst fall in more than a decade, as an economic slowdown pummeled memory chip prices and demand for IT gadgets and servers.

Here’s a running list of the companies planning layoffs. 

Stellantis NV is establishing a new unit to accelerate the rollout of car data applications and products, part of the automaker’s effort to generate €20 billion in added sales annually from software-related services by 2030.