6.5%: S&P raises FY26 GDP forecast
Upgrade in growth projections comes against backdrop of global uncertainties and geopolitical tensions. For next year, the agency forecast GDP growth at 6.7%, and in 2027-28, it projected the economy to grow by 7%.
Several agencies in recent days trimmed India's growth forecast, citing global uncertainties. India's economy remained resilient against backdrop of stiff challenges, thanks to robust domestic demand. tnn
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Time of India
6 minutes ago
- Time of India
Panasonic's battery unit profit grows 47% y/y in Q1 on AI boom
Panasonic on Wednesday said operating profit at its battery-making energy unit grew strongly in the first quarter due to the AI investment boom , offsetting negative impacts from US tariffs and the termination of electric vehicle tax credits . Profit for the key unit, which makes batteries for Tesla and other EV makers, rose 47 per cent year-on-year to 31.9 billion yen ($215.6 million). "Concerns remain over a further slowdown in EV demand due to US tariff policies and termination of IRA 30D tax credit", Panasonic said in a presentation slide, but noted demand for data centre-bound energy storage systems is "growing more than anticipated". For the full-year that ends in March 2026, the company kept its operating profit forecast for the energy unit at 167 billion yen. Panasonic Holdings said in May it would cut 10,000 staff and expected to book restructuring costs of 130 billion yen as part of a push to improve group profitability. The electronics manufacturer said at the time it did not expect to book any restructuring costs in its energy business. Last week, Panasonic Energy's major customer Tesla warned of fallout from the US government's legislation to cut a $7,500 tax credit for EV buyers. Panasonic Energy operates a plant in the US state of Nevada that provides batteries to Tesla and earlier this month started production at its second US plant, in Kansas. It also makes energy storage systems for data centres in its consumer business, which in the April-June quarter saw a rapid rise in demand owing to massive AI-related investments, the company said. But both auto batteries and consumer energy storage systems would see certain impact from US President Donald Trump's tariffs, it added, without providing the impact forecast in numerical terms. Panasonic Energy is investing in new battery technologies as it competes with Chinese and South Korean rivals such as CATL and LG Energy Solution (LGES) in the global EV supply chain. Last week, LGES warned of slowing demand by early next year due to US tariffs and policy uncertainties after it reported a profit jump for the April-June period.
Time of India
an hour ago
- Time of India
Palo Alto's bold $25B CyberArk deal sparks AI-era cyber defense; but stock plunges 8% — is Wall Street missing the big picture?
How did the stock market react to the news? Live Events Palo Alto's $25 billion CyberArk deal signals a major shift in cybersecurity strategy What are the details of the CyberArk acquisition? CyberArk shareholders will receive $45 in cash and 2.2005 shares of Palo Alto Networks stock for each CyberArk share they hold. will receive and for each CyberArk share they hold. This values CyberArk shares at a 26% premium over their 10-day average as of July 25. over their 10-day average as of July 25. The transaction is expected to close in the second half of Palo Alto's fiscal year 2026, pending regulatory approvals and shareholder consent. Wall Street sees long-term growth despite short-term concerns A strategic shift into identity security to meet AI-era challenges Why Palo Alto is betting big on identity security with CyberArk AI-driven threats push cybersecurity companies to consolidate power How the deal impacts investors, customers, and the cybersecurity market Experts call it a strategic home run amid growing demand for zero-trust solutions What's next for Palo Alto Networks and CyberArk after the merger Palo Alto's platform strategy gets a major boost A bold bet on the future of cybersecurity FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Palo Alto Networks has just made its boldest move yet—acquiring CyberArk in a staggering $25 billion deal that could redefine the future of AI-powered identity security. As digital threats evolve faster than ever in the age of artificial intelligence, this acquisition signals Palo Alto's aggressive push to dominate the next frontier of cyber defense: protecting human and machine identities. But while the company sets its sights on long-term transformation, Wall Street had a different reaction—sending Palo Alto's stock down over 8% in a single the strategic vision behind the deal, Wall Street wasn't immediately Alto Networks (PANW) shares dropped sharply—falling over 8% to around $177, marking one of its steepest single-day declines this year. Some analysts pointed to the hefty price tag and potential integration risks, while others questioned the timing amid slowing cybersecurity CyberArk (CYBR) shares also saw a dip after an initial jump, settling around $422, down nearly 3% by midday sharp market reaction raises the question: Is Wall Street too focused on short-term costs, and missing the long-term value this merger could unlock?Despite the short-term dip, analysts note this is typical market behavior following large acquisitions, especially those involving mixed cash and equity. Many expect Palo Alto's stock to recover as the long-term benefits—like revenue growth and platform expansion—kick Alto Networks is buying CyberArk, a global leader in privileged access management (PAM) and identity security, in a landmark deal valued at. The acquisition includes aand 2.2005 Palo Alto shares per CyberArk share, offering a roughlyover CyberArk's recent average trading deal, expected to close in the second half of Palo Alto's fiscal year 2026, is more than just a financial transaction—it's a major strategic leap into the growing market for identity-first cybersecurity, which is becoming critical in the AI-driven digital deal, announced July 30, includes a mix of cash and stock valued at approximately $25 is by far Palo Alto's largest acquisition—a clear signal that the company is positioning itself as the dominant force in AI-powered identity deal values CyberArk at apremium over its 10-day volume-weighted average price, signaling strong confidence from Palo Alto in CyberArk's role in reshaping the future of security. Market analysts believe the deal will be accretive to Palo Alto's gross margins and revenue immediately, and positive for free cash flow by 2028, once cost synergies and integrations are fully shareholders, this means a temporary shake-up, but also a potentially massive payoff if Palo Alto successfully positions itself as the go-to platform for end-to-end AI cybersecurity and identity core reason behind the deal? The growing urgency to secure digital identities—both human and machine—in an AI-powered world. CyberArk is a leader in privileged access management (PAM) and identity-first security, two areas that are now central to preventing modern acquisition gives Palo Alto Networks a firm foothold in zero-trust security, which is quickly becoming the standard in enterprise environments. Together, the companies aim to create a comprehensive platform that addresses threats from every angle—cloud, endpoint, network, and acquisition isn't just about expansion—it's about transformation. CyberArk's platform offers top-tier identity security tools that protect both human and machine identities across cloud, hybrid, and on-premise environments. As AI technologies become more prevalent, attackers are increasingly targeting machine identities, making CyberArk's capabilities more valuable than acquiring CyberArk, Palo Alto Networks will now be able to secure the entire digital identity chain—from users to endpoints to workloads—creating a fully integrated, AI-aware cybersecurity the rise of artificial intelligence, automation, and deepfakes, traditional security tools are no longer enough. The integration of CyberArk's privileged access tools into Palo Alto's portfolio gives the combined company a competitive edge in fighting new-age move mirrors other large-scale security consolidations in 2025, such as Alphabet's $32 billion acquisition of Wiz, and shows how tech giants are rapidly merging tools to build platform-based security solutions that are smarter, faster, and more markets responded quickly., while, reflecting investor caution about integration risks and short-term dilution. However, Palo Alto executives emphasized that the deal would be accretive to revenue and gross margins immediately, and positive for free cash flow by fiscal customers, this means a seamless security experience—with Palo Alto now able to offer firewalls, endpoint protection, cloud security, and identity management all under one umbrella. It also positions the company as a strong rival to Microsoft, Cisco, and Okta in the race for end-to-end cybersecurity analysts are calling the deal a 'strategic home run,' especially as more organizations shift to zero-trust architecture—an approach that assumes no user or device is trustworthy without constant verification. CyberArk's solutions are a key pillar in this acquisition is expected to strengthen Palo Alto's push into zero-trust identity and access management, a space that's projected to explode in demand as businesses worldwide tighten their security perimeters in response to data breaches, ransomware attacks, and AI-driven the deal is finalized, CyberArk will become a critical arm of Palo Alto's identity security operations. Leadership from both firms is expected to collaborate closely to accelerate innovation, expand global market reach, and drive adoption of next-gen security Palo Alto, this move cements its evolution from a firewall-focused company into a comprehensive cybersecurity platform leader. For CyberArk, it means more resources, deeper integration, and broader impact on securing digital identities in every corner of the connected the past few years, Palo Alto Networks has gradually shifted from being known mainly for firewalls to becoming a cloud-native, AI-enhanced security platform. This deal marks the next step in that journey, giving it powerful identity tools to complete its with recent moves by tech giants like Google's acquisition of Wiz, the market is clearly heading toward platform consolidation—and Palo Alto's move ensures it won't be left behind in this $25 billion CyberArk acquisition may have sparked short-term volatility in Palo Alto's stock, but many believe it's a long-term win. With identity security becoming a central pillar of digital defense in the age of AI, this deal positions Palo Alto Networks as a dominant force ready to lead the next chapter of cybersecurity expand into identity security and fight AI-powered cyber threats with a stronger Alto Networks acquired CyberArk for $25 billion in cash and stock.
Hindustan Times
an hour ago
- Hindustan Times
US, China trade talks conclude with agreement to extend tariff truce
US President Donald Trump is set to make the final call on maintaining a tariff truce with China before it expires in two weeks, an extension that would mark a continued stabilization in ties between the world's two biggest economies. Scott Bessent, who led the US delegation with Jamieson Greer, later said 'our Chinese counterparts have jumped the gun a little.'(via REUTERS) The two sides agreed to extend their tariff truce, Chinese trade negotiator Li Chenggang told reporters in Stockholm without providing further details. Treasury Secretary Scott Bessent, who led the US delegation with Trade Representative Jamieson Greer, later said 'our Chinese counterparts have jumped the gun a little.' Asked on CNBC whether he'd recommend an extension of the pause, Bessent said he'd give Trump the facts, 'then he'll decide.' There's still 'a couple of technical details to work out,' Bessent told reporters Tuesday after two days of meetings with officials from Beijing led by Vice Premier He Lifeng. The Stockholm negotiations marked the third round of US-China trade talks in less than three months. They wrapped up ahead of an Aug. 12 deadline to resolve differences during a 90-day suspension of sky-high tariffs that had threatened to cut off bilateral trade. Adding an extra 90 days is one option, Bessent said. 'While there is disappointment that nothing material was agreed, the mood seems to be constructive and optimistic about future potential deals,' Kelvin Lam, senior China economist at Pantheon Macroeconomics in London, said in an initial assessment. Asian shares were mixed in early trade on Wednesday. The S&P 500 snapped a six-day rally. A 90-day extension would clear the path for Trump to visit China to meet with President Xi Jinping in late October, around the time of an international meeting in South Korea that the US leader is likely to attend. Speaking to reporters on Air Force One, Trump said he may meet with Xi before the end of the year. Trump also said he heard from Bessent that the talks with China went well. Trump-Xi Summit? Both sides have been taking steps to turn down the temperature and reduce flashpoints recently, with Chinese exports of rare earth magnets starting to recover in June and the US saying it would approve shipments of a semiconductor used for artificial intelligence which it had blocked. This week, the US also declined to allow Taiwanese President Lai Ching-te to transit through the US, removing a potential thorn in ties with the mainland, which claims Taiwan as its own territory. 'All of these moves are setting the stage for what I predict will be a summit between Trump and Xi before Thanksgiving,' Harvard professor Graham Allison said on X. Allison last month met with China's foreign minister and the party secretary of Shanghai, who is a member of the Politburo. The Stockholm round came on the heels of the Trump administration reaching preliminary tariff deals with Japan and the European Union. Bessent said his Chinese counterparts were in 'more of a mood for a wide-ranging discussion.' The US treasury chief told CNBC that the Chinese side came to talks with a delegation of 75 people, versus the 15-strong team fielded by Washington. 'We start out in a very large room, probably 12 or 15 on each side of the table,' he said. The 'real work gets' done when delegates 'break down into smaller groups of two-on-two,' he added. Unlike at the previous talks in London, the US team this time around didn't include Commerce Secretary Howard Lutnick, who oversees Washington's export control regime. With the outlook for tariffs looking less dire than in April, the International Monetary Fund this week raised its forecasts for global growth this year. The truce has also helped China's economy, with the IMF boosting its 2025 outlook for the country to 4.8%, noting the lower levies and stronger-than-expected activity in the first half. At issue in the ongoing dialogue is how the two countries seek to maintain a stable trading relationship while applying barriers like tariffs and export controls to limit each other's progress in critical sectors ranging from battery technology and defense to semiconductors. Greer said the US wants assurances that critical materials like magnets keep flowing so the two sides can focus on other priorities. 'We don't ever want to talk about magnets again,' he said. Greer said the resumption of China's rare earths exports is Beijing's biggest concession so far. Asked if the US made any commitments to China on its pending 232 investigations, Greer said China asked for status updates on them, but stressed that the eventual duties would be applied globally and not have any exemptions for particular countries. Reducing the 20% tariffs that Trump imposed over US claims that Chinese companies supply chemicals used to make the illegal drug fentanyl is also a high priority for Beijing, Eurasia Group analysts wrote in a note last week. In the background of the latest trade talks between Washington and Beijing is the race by several economies to sign tariff deals with Trump before Aug. 1, when he's threatening to impose so-called reciprocal import taxes on the US's major trading partners.
