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GlobalPlatform Expands Annual Seminar in China

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GlobalPlatform Expands Annual Seminar in China

The new ‘Security in our Connected World’ event will focus on the implementation and value of GlobalPlatform technology in real world use cases 

Following the success of its 2017 event, GlobalPlatform, the standard for secure digital services and devices, will return to China for a second year with an expanded scope

 On 19 September 2018, the ‘Security in our Connected World’ seminar will focus on Secure Element (SE) and Trusted Execution Environment (TEE) technologies and the Device Trust Architecture (DTA) framework, and in particular their real-world IoT technical and business use cases.

The agenda will bring together the foremost SE and TEE subject matter experts from organizations such as Alibaba, Applus+, Baidu, Brightsight, CAICT, China Unicom, Gemalto, Huawei, Infineon, Oracle, STMicroelectronics, Tencent and Trustonic. These industry leaders will showcase state-of-the-art device and cloud security and solutions that address today’s threat landscape across the following key use cases and more:

  • IoT (consumer, industrial and enterprise)
  • Premium content protection & digital rights management (DRM)
  • Digital fiat currency
  • Convergence of SIM and eSIM
  • Security and certification
  • Lessons learned from live projects

The event will also feature real world best practice and methodologies in line with regional requirements including IFAA, ICA and ICFNR, and explore China’s significant role in driving the adoption of GlobalPlatform’s core specifications.

“Security, privacy and trust need to be approached holistically, and from the start of projects,” comments Kevin Gillick, GlobalPlatform Executive Director. “To do this effectively, device manufacturers, service providers and cloud platform providers need to be able to choose the proper level of security to fit their use cases. As GlobalPlatform secure components can be used separately or combined to address these different requirements, we needed to expand the scope of our annual event.

“Last year’s event was bigger and better than ever before, with more than 200 delegates from 85 companies and 13 different countries. Our expansive and growing member base in China and the Asian region is committed to building an ecosystem where digital services and devices can be trusted and managed securely, so we are hugely excited to see the innovations that will be brought forward under this expanded scope.”

GlobalPlatform and its 100+ members develop standards that support security, privacy and trust for connected devices and services. The event will bring together service providers (including financial institutions, remote content distributors and companies working to develop enterprise solutions), platform providers, software vendors, device manufacturers and mobile network operators from across the globe.

GlobalPlatform would like to thank its sponsors, Gemalto, Huawei, Infineon, STMicroelectronics, Trustkernel, Trustonic and government supporter CAICT.

See the full agenda online: https://globalplatform.org/seminar/annual-seminar/.

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Warren Buffett’s $10 billion mistake: Precision Castparts

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Warren Buffett's $10 billion mistake: Precision Castparts 1

By Jonathan Stempel

(Reuters) – Warren Buffett makes mistakes too.

The 90-year-old billionaire on Saturday admitted he “paid too much” when his Berkshire Hathaway Inc spent $32.1 billion in 2016 to buy aircraft and industrial parts maker Precision Castparts Corp, its largest acquisition.

Berkshire wrote off $9.8 billion of Precision’s value last August, as the coronavirus pandemic sapped demand for air travel and the Portland, Oregon-based unit’s products.

In his annual letter to investors, Buffett said he bought “a fine company – the best in its business,” and Berkshire was “lucky” to have Precision Chief Executive Mark Donegan still in charge.

But Buffett said he was “simply too optimistic about PCC’s normalized profit potential.”

Precision shed more than 13,400 jobs, or 40% of its workforce, in 2020, and only recently has begun to improve margins, Berkshire said.

“I was wrong … in judging the average amount of future earnings and, consequently, wrong in my calculation of the proper price to pay for the business,” Buffett wrote. “PCC is far from my first error of that sort. But it’s a big one.”

Two years ago, Buffett admitted he “overpaid” for Kraft Foods when Berkshire and private equity firm 3G Capital merged it in 2015 with their H.J. Heinz Co to form Kraft Heinz Co.

And in his 2008 annual letter, Buffett called his 1993 purchase of Dexter Shoe his “worst deal” ever, saying he had bought a “worthless business” and compounded his error by using Berkshire stock rather than cash to fund the acquisition.

“I’ll make more mistakes in the future – you can bet on that,” he wrote.

Tom Russo, a longtime Berkshire investor, welcomed Buffett’s candor.

“I admire Warren for taking personal responsibility for Precision Castparts,” he said. “Few managers are willing to admit their responsibility rather than pass on blame.”

(Reporting by Jonathan Stempel in New York; Editing by Marguerita Choy)

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Sunak to use budget to expand apprenticeships in England

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Sunak to use budget to expand apprenticeships in England 2

LONDON (Reuters) – British finance minister Rishi Sunak will announce more funding for apprenticeships in England when he unveils his budget next week, the government said on Friday.

Employers taking part in the Apprenticeship Initiative Scheme will from April 1 receive 3,000 pounds ($4,179) for each apprentice hired, regardless of age – an increase on current grants of between 1,500 and 2,000 pounds depending on age.

The scheme will extended by six months until the end of September, the finance ministry said.

Sunak will also announce an extra 126 million pounds for traineeships for up to 43,000 placements.

Sunak’s March 3 budget will likely include a new round of spending to prop up the economy during what he hopes will be the last phase of lockdown, but he will also probably signal tax rises ahead to plug the huge hole in the public finances.

Sunak is also expected to announce a “flexi-job” apprenticeship scheme, whereby apprentices can join an agency and work for multiple employers in one sector, the finance ministry said.

“We know there’s more to do and it’s vital this continues throughout the next stage of our recovery, which is why I’m boosting support for these programmes, helping jobseekers and employers alike,” Sunak said in a statement.

(Reporting by Andy Bruce, editing by David Milliken)

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UK seeks G7 consensus on digital competition after Facebook blackout

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UK seeks G7 consensus on digital competition after Facebook blackout 3

LONDON (Reuters) – Britain is seeking to build a consensus among G7 nations on how to stop large technology companies exploiting their dominance, warning that there can be no repeat of Facebook’s one-week media blackout in Australia.

Facebook’s row with the Australian government over payment for local news, although now resolved, has increased international focus on the power wielded by tech corporations.

“We will hold these companies to account and bridge the gap between what they say they do and what happens in practice,” Britain’s digital minister Oliver Dowden said on Friday.

“We will prevent these firms from exploiting their dominance to the detriment of people and the businesses that rely on them.”

Dowden said recent events had strengthened his view that digital markets did not currently function properly.

He spoke after a meeting with Facebook’s Vice-President for Global Affairs, Nick Clegg, a former British deputy prime minister.

“I put these concerns to Facebook and set out our interest in levelling the playing field to enable proper commercial relationships to be formed. We must avoid such nuclear options being taken again,” Dowden said in a statement.

Facebook said in a statement that the call had been constructive, and that it had already struck commercial deals with most major publishers in Britain.

“Nick strongly agreed with the Secretary of State’s (Dowden’s) assertion that the government’s general preference is for companies to enter freely into proper commercial relationships with each other,” a Facebook spokesman said.

Britain will host a meeting of G7 leaders in June.

It is seeking to build consensus there for coordinated action toward “promoting competitive, innovative digital markets while protecting the free speech and journalism that underpin our democracy and precious liberties,” Dowden said.

The G7 comprises the United States, Japan, Britain, Germany, France, Italy and Canada, but Australia has also been invited.

Britain is working on a new competition regime aimed at giving consumers more control over their data, and introducing legislation that could regulate social media platforms to prevent the spread of illegal or extremist content and bullying.

(Reporting by William James; Editing by Gareth Jones and John Stonestreet)

 

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