Latest news with #private sector
Bloomberg
18 hours ago
- Business
- Bloomberg
HDFC Bank Posts Net Profit Despite Increased Provisions
HDFC Bank Ltd., India's largest private sector lender, posted first quarter profits that beat estimates despite increased provisions on its balance sheet. Net income rose 12% to 181.55 billion rupees in the three months ended June from a year earlier, according to a statement on Saturday. That beat the average estimate of 176.18 billion rupees, based on a Bloomberg survey of analysts.
The Independent
4 days ago
- Business
- The Independent
Workers fear being forced back into office, survey finds
Workers say they are being negatively impacted by pressure to spend more time in the office, a survey has found, as a growing number of companies toughen their stance on remote working. The poll, conducted by recruitment firm Hays, found that 38 per cent of respondents reported a negative impact on their wellbeing following recent news coverage of firms increasing office attendance requirements. This effect was skewed towards female respondents, with 42 per cent of women reporting negative effects on their wellbeing from news coverage about return-to-office mandates, compared to 32 per cent of men. Younger workers between the ages of 20 and 29 also expressed more concern than their older counterparts aged 50 and above. Around 84 per cent of hybrid workers said being permitted to work from home or remotely had a positive effect on their wellbeing. This effect also skewed towards female respondents, with 87 per cent of women reporting improved wellbeing from a hybrid model versus 80 per cent of men. All respondents in favour of the hybrid model cited improvements to their mental, physical, social and financial health. The findings are based on responses from 3,600 UK-based employers and employees across both the public and private sectors, collected between late April and early May. Financial pressure, particularly commuting expenses, emerged as a key concern, with 59 per cent saying it was a factor that would affect their willingness to return to the office more frequently. According to data from the Office for National Statistics, hybrid working was the norm for 28 per cent of working adults in Great Britain during the first quarter of 2025. But a number of major firms, especially in the finance sector, have announced stricter return-to-office policies. HSBC warned UK retail banking staff in May that a failure to spend at least 60 per cent of their time in the office could result in reduced bonuses. Barclays and Santander have also introduced more restrictive remote working guidelines. Man Group, the world's largest publicly listed hedge fund, required London-based analysts to return to the office full-time on a temporary basis from June, as the company looks to recover from a period of underperformance. Hannah Pearsall, the head of wellbeing at Hays, said: 'The popularity of hybrid working shows no signs of wavering any time soon, and the role this flexible working pattern plays in improving wellbeing should not be overlooked. 'A lack of awareness around the impact of a return to the office on wellbeing, particularly financial wellbeing, could be catastrophic for the sustained success of their business.'
South China Morning Post
5 days ago
- Business
- South China Morning Post
What if Chinese, US firms make humanoid robots together? Tech CEO calls for collaboration
The founder of a prominent Chinese robotics start-up sees great value in working with American peers to advance the global development of humanoid robots – and his call for stronger collaboration between the fractious trade partners comes as China's private sector is playing an increasingly larger role in innovation. Advertisement 'China has a deep foundation in manufacturing and hardware, while the United States possesses a rich AI software ecosystem,' said Wang Xingxing, founder and CEO of Hangzhou-based humanoid robot maker Unitree Robotics. 'Each has its advantages, making global collaboration and joint promotion of the field worthwhile,' he added, noting that the world shared a common goal for the industry. Wang was speaking on Tuesday at a press conference organised by the government to promote confidence in the private sector, and executives from other leading private companies were also present. The burgeoning field of humanoid robotics has become a new frontier in the broader technological competition between the US and China, with a race to commercialisation under way among companies in the two countries. 10:41 How Hangzhou's 'Six Little Dragons' built a new Chinese tech hub How Hangzhou's 'Six Little Dragons' built a new Chinese tech hub
Fox News
5 days ago
- Business
- Fox News
America has the power to lead the AI revolution – and the leadership to make it happen
America has triumphed in each industrial revolution – whether steel, energy or manufacturing – and has the power to lead the AI revolution, too. This week in Pittsburgh, President Donald Trump is bringing together leaders to address a defining challenge of our time: how to fuel the AI revolution with American energy. Progress on this front will be consequential for our economy, our national security, and America's global leadership. President Trump's announced $500 billion private sector AI investment is a critical enabler for our country. But artificial intelligence won't power itself. It needs vast amounts of electricity, delivered affordably and reliably. And as demand for AI computing surges, the real question isn't just about who writes the best code – it's also about who can build out data center infrastructure behind it. The U.S. has the unique capability to do that – including the energy dominance to fuel it – and we now have the political will to lead. U.S. policy has often prioritized climate idealism over energy pragmatism. Wind, solar and battery technologies will play a key role in our energy future, but they are not available at the scale or reliability needed to fuel expected AI data center demand. And these combined sources are more expensive than U.S. natural gas. Without a balanced and clear-eyed approach, we risk pushing AI innovation – and the economic and national security advantages that come with it – overseas. Other countries are already trying to lure investment away from the United States by subsidizing AI computing power. In China, dozens of data centers are being built – 39 approved in the last quarter of 2024 alone. In Malaysia, authorities are fast-tracking electricity infrastructure for data centers, cutting lead times to just 12 months, compared to five years in the U.S. Some American companies are already helping to finance data center growth in the Middle East. The path to powering America's AI dominance is rooted in abundant American natural gas. The United States is already by far the world leader, accounting for a quarter of global natural gas production. And we are also one of the lowest-cost producers. Equally important is to ensure AI power demand doesn't drive up electricity costs for consumers. We can develop natural gas-based power generation independent of the current electric grid and co-locate it with data centers across the country. Providing this dedicated electricity prevents a competition for grid-connected power, which would drive up costs and burden our already strained electricity grid. New solutions like this require creative partnerships and continued innovation – which is why Chevron is working with Engine No. 1 and GE Vernova to establish facilities designed to provide reliable, affordable, long-term power-generating solutions to underpin American AI leadership. President Donald Trump, Secretary of Energy Chris Wright and Sen. David McCormick, R-Pa., recognize the opportunity for the United States to achieve AI dominance. By leveraging abundant American natural gas as a foundation to meet surging AI power demand, we can strengthen our national security, grow our economy and protect our technology leadership. We have the power to lead the race to develop and deploy AI. It's time to use it.
Zawya
6 days ago
- Business
- Zawya
Kaspersky highlights top risks of Quantum Computing
Kaspersky is addressing one of the most debatable technological challenges of the coming decade: the rise of quantum computing and its potential impact on digital security. In this context, experts have identified the main quantum threats that demand immediate action from the cybersecurity community. As classical computers approach their physical limits, their performance growth is slowing — constraining progress in areas that depend on complex computation. At the same time, quantum computers, offering the potential to solve specific problems far faster than classical systems. For now, however, their practical use remains limited to narrow and experimental domains. Nevertheless, experts estimate that we may see a fully fault-tolerant quantum computer within the next decade — a development that could unlock significant advances, but also unleash a new era of cybersecurity threats. Supporting this urgency, Deloitte's 2024 Global Future of Cyber Survey reports that 83% of organizations are already assessing or taking steps to address quantum computing risks, demonstrating growing awareness and proactive strategies in the private sector. To better understand the scope of the evolving threat, Kaspersky has identified three of the most urgent quantum-related risks that demand action from the cybersecurity community: The top three risks Quantum computers could be used to compromise the traditional encryption methods that currently protect data in countless digital systems — posing a direct threat to global cybersecurity infrastructures. Threats include the interception and decoding of sensitive diplomatic, military, and financial communications, as well as the real-time decryption of private negotiations – something quantum systems could handle much faster than classical machines, turning secure conversations into open books. 1. Store now, decrypt later: the key threat of the coming years Threat actors are already harvesting encrypted data today, with the intention of decrypting it in the future once quantum capabilities advance. This ' store now, decrypt later ' tactic could expose sensitive information years after it was originally transmitted — including diplomatic exchanges, financial transactions, and private communications. 2. Sabotage in blockchain and cryptocurrency Blockchain networks are not immune to quantum threats. Bitcoin's Elliptic Curve Digital Signature Algorithm (ECDSA), which relies on elliptic curve cryptography (ECC), is especially vulnerable. Potential risks include forging digital signatures, which threatens Bitcoin, Ethereum, and other cryptocurrencies; attacks on ECDSA that secure crypto wallets; and tampering with blockchain transaction history, undermining trust and integrity. 3. Quantum-resistant ransomware: a new front Looking ahead, developers and operators of advanced ransomware may begin adopting post-quantum cryptography to protect their own malicious payloads. So-called 'quantum-resistant' ransomware would be designed to resist decryption by both classical and quantum computers — potentially making recovery without paying a ransom nearly impossible. At present, quantum computing does not offer a way to decrypt files locked by current ransomware. Data protection and recovery still rely on traditional security solutions and collaboration among law enforcement agencies, quantum researchers, and international organizations. Building quantum-safe defenses Quantum computers are not yet a direct threat — but by the time they are, it may be too late to respond. Transitioning to post-quantum cryptography will take years. Preparations must begin today. The cybersecurity community, IT companies, and governments must coordinate to address the risks ahead. Policymakers should develop clear strategies to migrate to post-quantum algorithms. Businesses and researchers need to begin implementing new security standards now. 'The most critical risk lies not really in the future, but in the present: encrypted data with long-term value is already at risk from future decryption. The security decisions we make today will define the resilience of our digital infrastructure for decades. Governments, businesses, and infrastructure providers must begin adapting now, or risk systemic vulnerabilities that cannot be retroactively fixed', states Sergey Lozhkin, Head of Kaspersky Global Research & Analysis Team for META and APAC. About Kaspersky Kaspersky is a global cybersecurity and digital privacy company founded in 1997. With over a billion devices protected to date from emerging cyberthreats and targeted attacks, Kaspersky's deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect individuals, businesses, critical infrastructure, and governments around the globe. The company's comprehensive security portfolio includes leading digital life protection for personal devices, specialized security products and services for companies, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. We help millions of individuals and over 200,000 corporate clients protect what matters most to them. Learn more at
