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Tech firms warn 'Scattered Spider' hacks are targeting aviation sector - The Economic Times
Economic Times
·
1m ago
Medial
Google and Palo Alto Networks have warned that the "Scattered Spider" hacking group is targeting the aviation sector. Although specific companies weren't mentioned, recent cyber incidents at Hawaiian Airlines and Canada’s WestJet highlight the potential threat. Known for their high-profile attacks, this group has previously disrupted various sectors, including gaming and retail in the U.S. and Europe. The cybersecurity firms underscore the growing risk to transport and critical infrastructure globally.
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Techies’ American dream fast turning into desi nightmare
Economic Times
·
3m ago
Medial
Indian engineers in the US, particularly on H-1B visas, face growing uncertainty due to tech sector layoffs and immigration challenges. Layoffs, termed "Liberation Days," have hit US startups and hardware firms. Experts warn of potential future workforce reductions. Indian H-1B holders, comprising 72.3% of issued visas, are significantly impacted. Legal and staffing experts advise upskilling and adapting, noting remote work opportunities in India amid visa and economic shifts. Despite challenges, immediate visa policy changes seem unlikely.
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TechCrunch Mobility: The state of EV sales and Rivian secures the next $1B from VW | TechCrunch
TechCrunch
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1m ago
Medial
TechCrunch Mobility provides insights on transportation's future, highlighting news like Rivian securing $1B from VW amidst sales struggles and autonomous vehicle developments. The newsletter shifted to Beehiiv for enhanced reader engagement. Notable topics include Tesla's "autonomous delivery," the impact of Republican-led legislative changes on EV tax credits, and Pebble's all-electric travel trailer deliveries. Security issues also emerged, with Scattered Spider targeting airlines, and a data breach at Qantas affecting six million passengers.
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China signals renewed tech sector support, but concerns linger
Economic Times
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5m ago
Medial
China's recent conciliatory gestures towards its tech sector, exemplified by President Xi Jinping's meeting with Jack Ma, signal potential regulatory relief, leading to a surge in tech stocks. This shift aims to address economic challenges, spur technological independence, and integrate private enterprises with national security goals. Despite favorable regulatory signals since 2023, experts warn these moves may not translate into sustained private-sector growth, with Beijing prioritizing alignment with its strategic objectives over fostering unrestrained corporate expansion.
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Turkish PE Pragma Capital Partners launches $100-mn fund for industrial firms
VCCircle
·
5m ago
Medial
Pragma Capital Partners, a private equity firm from Turkey's investment banking sector, has launched a $100 million fund targeting mid-sized industrial companies. This is their sixth investment vehicle, supporting tech and industrial sectors. Based in Istanbul, the firm manages assets exceeding $1 billion and has a portfolio comprising 17 firms. The strategic move aims to bolster industrial growth and innovation within Turkey's evolving economic landscape, highlighting Pragma's continued influence and investment commitment.
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MGM Resorts recovers from cyberattack, but still no digital room keys
Economic Times
·
1y ago
Medial
MGM Resorts has announced that its hotels and casinos are operating normally after a recent cyberattack. However, the company is still working to resolve issues at its Excalibur hotel and casino in Las Vegas. Some digital services like mobile check-in and digital keys remain unavailable, and physical keys are being issued to guests. The cyberattack was attributed to a group called Scattered Spider, but MGM did not comment on the identity of the hackers. The company is working to normalize operations at its affected properties.
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Alpha Wave, Carlyle, Nxtra Data, Statkraft India, and Capgemini in news
VCCircle
·
4m ago
Medial
Alpha Wave Global and DigitalBridge Group are vying to acquire Carlyle’s 24.04% stake in Nxtra Data, potentially valuing Bharti Airtel’s data centre arm at Rs 20,500 crore ($2.4 billion), according to The Economic Times. This strategic move highlights the growing interest in data infrastructure investments. Carlyle's involvement has significantly impacted Nxtra’s growth trajectory, and the ongoing negotiations underscore the competitive landscape within the data storage sector, attracting major investment firms.
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Indian edtech companies eye larger offline play in post-pandemic world
Economic Times
·
2y ago
Medial
Indian edtech companies are looking to expand their presence in the offline education space in a post-pandemic world, according to The Economic Times. While the online learning sector saw significant growth during the pandemic, edtech firms are now focusing on a larger offline presence to complement their digital offerings. This move aims to provide a more holistic and blended learning experience, catering to diverse learning preferences. The edtech sector scaled record highs during the pandemic as education moved online, but has since been among the worst affected in terms of funding and layoffs, particularly in the tuition, K12 and test-prep segments.
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MGM Resorts says regulators probing September cyberattack
Reuters
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1y ago
Medial
MGM Resorts has revealed that state and federal authorities are investigating a cyber attack that occurred in September. The incident resulted in a $100 million loss for the company in its third-quarter results. MGM Resorts has stated that it will cooperate with the inquiries. Following the attack, the company halted its systems, causing disruptions at Las Vegas hotels and resulting in error messages on slot machines. Hacking group AlphV claimed responsibility for the breach, with reports suggesting it collaborated with another group called Scattered Spider for the data theft.
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Infosys, TCS or a Coforge, Persistent Systems? Why picking IT stocks is more art than science, explains Share.Market expert
Economic Times
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1m ago
Medial
Accenture's positive Q3 results initially boosted tech sector expectations, but broader economic uncertainties are stalling global tech spending, causing mixed reactions among Indian IT stocks. Market analyst Mayank Jain suggests that Tier-1 companies like TCS and Infosys offer stability but at higher valuations, while Tier-2 firms such as Persistent and Coforge provide growth potential with higher risks. Picking IT stock winners involves a strategic balance between these tiers, considering current market dynamics and investor sentiment.
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India risks 1% GDP hit as Trump slaps 50% tariffs over Russian oil
Economic Times
·
3d ago
Medial
India's GDP growth could drop by 1% as the U.S. under Trump doubles tariffs on Indian goods to 50%, targeting India's Russian oil purchases. These tariffs threaten exports, especially to the U.S., India's largest market, impacting sectors like textiles and electronics. The Reserve Bank of India's growth forecast may decline, while new markets are being explored. Analysts warn of a potential 1.1% GDP hit if additional sector tariffs emerge, urging policy responses.
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