
HCLSoftware Launches Sovereign AI Aimed at Governments and Regulated Organisations Concerned with Their Data Privacy
Users of the HCL Domino platform leverage powerful AI to automate tasks, analyse data, and more, by choosing the models that their organization or trusted sources have built. With compliance measures such as the European AI Act aimed at shaping the development and use of artificial intelligence within the EU, Domino IQ enables organizations to have more fine-grained control over AI investments and, additionally, remove their reliance on foreign cloud-based services.
'In an uncertain geopolitical landscape, governments and regulated organizations, such as private banks, are increasingly concerned about their data sovereignty and digital independence', said Richard Jefts, Executive Vice President and General Manager, HCLSoftware. 'The importance of data sovereignty and avoiding unnecessary foreign government influence extends beyond SaaS solutions and AI. Specifically for collaboration - the sensitive data within email, chat, video recordings and documents, With the launch of Domino+ 14.5, HCLSoftware is helping over 200+ government agencies safeguard their sensitive data.'
"Today more than ever, true digital sovereignty is the key to Europe's digital future. That's why at IONOS we are proud to provide the sovereign cloud infrastructure for HCL's sovereign collaboration solutions. Our platform is powerful, secure, and – above all – free from foreign access. Together, we are setting an example for responsible innovation and digital self-determination, a key factor for companies and institutions in regulated industries with particularly sensitive requirements," said Achim Weiss, CEO of IONOS, the leading European hosting provider and trusted cloud enabler.
Other key capabilities of this Domino+ launch include:
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Mint
32 minutes ago
- Mint
Trump delayed reciprocal tariffs after Bessent wanted more time on deals
President Trump decided to delay the implementation of his so-called reciprocal tariffs to Aug. 1 after advisers including Treasury Secretary Scott Bessent told him he could get trade deals with more time, according to people familiar with the matter. Administration officials including Bessent felt as if they were making progress on deals with several trading partners such as India and the European Union as Trump's previous deadline approached, the people said. An initial pause on the reciprocal tariffs was set to lapse at 12:01 a.m. Wednesday until Trump on Monday further postponed the implementation date for three weeks and sent out letters warning countries of the rates they would face on that day. The weekend before his Monday announcement, Trump deliberated in phone calls and private conversations with allies from his private golf club in Bedminster, N.J., according to people familiar with the outreach. Trump was weighing whether he should give a new August deadline or send out letters without a date and simply a declaration of new tariff rates, the people said. Trump had mused publicly about moving away from notching agreements to avert tariffs. His inclination to let the tariffs snap into effect shifted after he heard from Bessent that some deals were close but needed more time. Bessent was a key aide who successfully convinced Trump to place the initial 90-day pause on his April 'Liberation Day" tariffs that rattled global markets. White House spokesman Kush Desai said the U.S. is receiving heavy interest to lower tariffs, but Trump 'has been clear: the United States, the world's biggest and best consumer market, holds the cards and leverage in negotiations to unilaterally set deals with appropriate tariff rates for our trading partners." In his phone calls, Trump told aides and allies he was frustrated with the lack of progress being made with countries, blaming those nations for not coming to the table with offers that, in his view, were good enough for the U.S., said some of the people familiar with Trump's outreach. Trump argued privately he was riding a wave of momentum from his signing of the 'One Big Beautiful Bill" and his bombing of Iran, and wanted to ride those perceived wins to victories on trade policy, these people noted. In the end, Trump decided to send out the letters along with the delay as a negotiating tactic to eke out last-minute concessions from trading partners, people familiar with the matter said. On Tuesday he said more letters are expected, adding that he was about two days from sending a letter to the European Union. U.S. and EU officials are still in close contact. Agriculture Secretary Brooke Rollins, Treasury Secretary Scott Bessent and Vice President JD Vance at Tuesday's cabinet meeting. Commerce Secretary Howard Lutnick later said on CNBC that 15 to 20 new tariff letters to world leaders can be expected to be posted online in the next two days. Trump, long a vocal advocate of the use of tariffs, said he was eager to place tariffs on a wave of countries, despite his new executive order. 'TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change," Trump wrote on Truth Social on Tuesday. During a cabinet meeting Tuesday, he asserted that his letters to other nations constituted a pact on bilateral commerce: 'A letter means a deal," he said, while noting that his team continues to negotiate with other nations. Trump on Tuesday also previewed other tariffs imposed under a separate legal authority, saying he would impose 50% tariffs on copper and up to 200% tariffs on pharmaceuticals, citing national-security concerns. Companies would be given up to a year and a half to relocate pharmaceutical supply chains before levies would take effect. Lutnick later said that the copper announcement would be posted Tuesday, and that reports outlining the tariff levels for semiconductors and pharmaceuticals would be unveiled by Aug. 1. Trump also played down the prospects of every country getting a deal to avoid his steep reciprocal tariffs. 'We got 200 countries. We can't meet with 200 countries," he said during the meeting. The reciprocal tariffs are targeting countries the White House deems bad actors on trade. They face a steeper rate in lieu of the 10% global baseline tariffs Trump has already imposed across nearly all U.S. imports. The reciprocal duties in many instances don't match the duties imposed on U.S. exports. The White House said the reciprocal tariff rates, or 10% baseline tariff for applicable nations, won't apply to products hit by sector-specific tariffs such as copper or aluminum. Practically, it would have been difficult for Customs and Border Protection to update thousands of product codes in the Harmonized Tariff Schedule for each nation subject to a reciprocal tariff by the Wednesday deadline, particularly after Trump altered some of those tariffs with deals or letters that assigned new duty rates, said Wilbur Ross, Trump's first-term commerce secretary. 'It takes [CBP] a while to implement tariffs," Ross said, citing the many codes that would have needed updating on July 9. A CBP spokesperson called that assertion false and said the agency has 'been on track to implement throughout, and remains ready to do so for any orders from the president." Countries that were sent letters could still negotiate lower rates if they dramatically reduce their tariffs and regulations on U.S. goods, Lutnick said. 'Even when he sends a letter, you've seen in the letter that he says, if you change the way you treat America, we will listen and we will think about it," Lutnick said. In recent weeks, the U.S. Trade Representative's office has circulated term sheets laying out U.S. demands for trade talks with about two dozen nations, according to people with knowledge of the documents. Those documents are similar to proposed provisions for an 'agreement on reciprocal trade" with the EU that The Wall Street Journal reported last month. 'There's nothing like a deadline to get someone to come to the table," Ross said of the letters Trump sent this week. Write to Brian Schwartz at and Gavin Bade at


Economic Times
an hour ago
- Economic Times
Asian stocks cautious as tariff talk sinks copper
Asian shares displayed caution as investors reacted to President Trump's firm stance on tariffs, ruling out deadline extensions. Copper futures declined following Trump's tariff threats, impacting global metal markets. Despite progress with the EU, potential tariffs on US technology firms remain a concern, leading to market indifference unless economic data weakens or inflation surges. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Asian shares opened cautiously as investors held back from taking risky bets after President Donald Trump ruled out extending his August deadline. Copper futures fell on Trump's tariff in Japan rose and those in Australia fell while a broader gauge of Asian shares dipped 0.1%. Benchmark copper futures fell in London after Trump said he planned to implement a 50% tariff on imports, a move that's likely to spark further upheaval in global metal markets . US copper prices had a record gain in the last session on Trump's remarks. Trump signaled a renewed determination to push ahead with his plans to heavily tax foreign imports. He also told reporters that despite progress with the European Union on a trade deal, frustration over the bloc's taxes and fines targeting US technology firms could result in him unilaterally declaring a new tariff rate within the next two days.'The market's response to this week's barrage of tariff headlines has been one of indifference, having absorbed the lessons of Liberation Day, where timelines were extended, levy rates were reduced, and trade deals were brokered,' said Tony Sycamore, a market analyst at IG Australia. 'This indifference is expected to continue until either the hard economic data starts to turn lower or inflation spikes higher.'Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and posturing on social media and at a Cabinet meeting on Tuesday came after traders initially shrugged off a series of letters and executive actions Trump issued Monday, pushing back the deadline for his so-called 'reciprocal' tariffs while announcing the latest rates he planned for more than a dozen countries that had not succeeded in brokering quick trade agreements.'While tariffs will likely remain high — compared with levels at the start of the year — as will the headline risk, we think the US effective tariff rate should end the year at around 15%,' said Ulrike Hoffmann-Burchardi at UBS Global Wealth Management. 'This would be a headwind to growth but not enough to trigger a recession.'She continued to recommend phasing into global equities or diversified portfolios to navigate volatility ahead.


Economic Times
2 hours ago
- Economic Times
Textile Stocks: Textile stocks rally after US hikes tariffs on Bangladesh garments
Jhunjhunwala said valuations are factoring in structural opportunities from the US Free Trade Agreement, the India-US trade deal, and a potential deal between the EU and India, but near-term uncertainty is expected to persist. Indian textile stocks saw a surge following the United States' decision to impose tariffs on Bangladeshi garment imports. This move sparked optimism for Indian companies, anticipating improved export prospects. Analysts suggest a potential trade deal between India and the US could further benefit the sector. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Textile stocks jumped up to 9% on Tuesday after US President Donald Trump imposed 35% tariffs on garment imports from Bangladesh - one of the biggest exporters of garments to the US - effective from August 1. The move spurred optimism in Indian textile stocks, in anticipation that lower tariffs on Indian exports could lead to better prospects for these said a trade deal between India and the US could lead to lower tariffs, which may improve business for textile companies."The imposition of a higher rate of tariffs on key garment exporters like Bangladesh puts Indian textile exporters in a favourable position," said Kaustubh Pawaskar, VP - lead analyst (consumption), ICICI Securities (retail). "Any positive development in the India-US trade deal could result in further gains."However, until the uncertainty over the deal persists, near-term volatility cannot be ruled stocks gave up some of the gains but still closed higher on Tuesday. Raymond Lifestyle gained 5%, while KPR Mills and Trident advanced 3.6% and 3.3%, respectively. Gokaldas Exports and Garware Technical Fibres rose 2.7% and 2.1%, respectively, while Welspun Living moved 0.6% higher."The 35% tariffs on Bangladesh and 36% on Cambodia and 40% on Myanmar-major textile exporting nations - may be favourable for India, as the expected trade deal between the US and India may include a lower tariff rate for India, which prompted the buying interest in textile stocks today," said Prerna Jhunjhunwala, VP, equity research - textile and retail, Elara said valuations are factoring in structural opportunities from the US Free Trade Agreement, the India-US trade deal, and a potential deal between the EU and India, but near-term uncertainty is expected to persist."With Bangladesh's key exports - woven apparel ($4.78B) and knitwear ($2.63B) - now costlier, India's own exports in knit & woven garments ($2.55B each) and home textiles ($2.21B) are set to gain share," said Dharan Shah, Founder, - an investment platform. "Gokaldas Exports, Vardhman Textiles, and KPR Mills are best positioned to benefit from this sourcing shift, especially in high-demand US apparel segments," he said.