
Italy's Giorgetti Is Worrying About Fallout From the Trade War
'We are worried about the impact of economic uncertainty and persistent commercial tensions on our economies,' Giorgetti said on Friday, speaking from South Africa where he is attending a Group of 20 meeting of finance ministers. 'The weakening of the US dollar is adding to the impact of higher tariffs.'
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Voiceflex partners with iPNetix to bolster its UCaaS professional services offering
LONDON, July 23, 2025 /PRNewswire/ -- Leading unified communications provider, Voiceflex, has teamed up with iPNetix – experts in IP solutions and support – to strengthen the delivery of its UCaaS application, Voiceflex Flow. Voiceflex Flow is a full and flexible UCaaS platform delivering all voice and collaboration from one single platform. iPNetix will provide scalable support solutions, ranging from installation-only services to full-service wraparound packages, ensuring Voiceflex Flow partners and their customers receive best-in-class implementation and ongoing assistance. Kevin Boyer, Managing Director at iPNetix said: "Through our channel partner network across various sectors, we deliver unparalleled professional services and support, 24/7, to businesses across the globe. "This strategic partnership with Voiceflex will strengthen the delivery of its UCaaS application by expanding support and installation capabilities through our expert service teams." Paul Taylor, Chief Commercial Officer at Voiceflex, said: "With a growing number of partners actively selling Voiceflex Flow, we were on the lookout for a trusted, channel-only professional services company to partner with. "With iPNetix on board, we're better positioned to address direct customer requests for professional installation and support, while also broadening our reach and enhancing success across the channel." About Voiceflex Voiceflex is a leading provider transitioning from a pure Telco to Techco delivering voice enablement services to the Channel. Our portfolio includes UCaaS, CCaaS, SBCaaS, Ai Meeting, Ai Conversational IVR, WhatsApp Business, and more designed to meet the diverse needs of businesses across various sectors. With a commitment to excellence and customer satisfaction, Voiceflex continues to drive innovation in the telecommunications industry. For more information about Voiceflex or to become a Voiceflex partner, please visit or contact sales@ About iPNetix iPNetix is a UK-based channel-only delivering fully managed, cost-effective, and scalable communications and support solutions. Whether it's full delivery service, design and implementation, project management or its comprehensive support desk, iPNetix services transform how end-user customers connect and collaborate. For more information about iPNetix please visit or contact us on info@ Media contact: Rachel Preston rpreston@ Logo - View original content to download multimedia:
Yahoo
14 minutes ago
- Yahoo
SAP Falls as Trade War Concerns Temper Strong Cloud Growth
(Bloomberg) -- SAP SE shares fell after the German software company flagged concerns about tariff insecurities and currency fluctuations even as cloud revenue posted solid growth. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US Why the Federal Reserve's Building Renovation Costs $2.5 Billion Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital Cloud and software revenue increased 11% to €7.97 billion ($9.4 billion) in the period ended June 30, the Walldorf, Germany-based company said Tuesday in a statement. That compares to analysts' average estimate of €7.99 billion, according to data compiled by Bloomberg. The company has shown resilient cloud growth in the face of geopolitical instability, as customers who decide to switch from on-premise servers typically commit to complex, multiyear migration projects that can't easily be dialed back. SAP's stock soared over the past year, and the company surpassed Dutch chip machine maker ASML Holding NV to become Europe's most valuable business. Persistent uncertainties are increasing pressure on global trade and customers find it harder 'to make well-informed decisions,' Chief Financial Officer Dominik Asam said on an investor call after the results. He added management is preparing SAP 'for less favorable outcomes' to protect the bottom line and free cash flow this year. SAP shares fell 2.4% to €253.20 at 10:11 a.m. in Frankfurt on Wednesday. While the company maintained its annual forecast for cloud revenue, it expects currency fluctuations to hurt that growth by 3.5 percentage points. SAP is facing 'deal cycle elongation in its complex manufacturing customer base' and the US public sector that could impact its business, KeyBanc Capital Markets analysts Jackson Ader and Jack Nichols said in a note. The results were in line with their expectations, they added. SAP sells software to companies to run business functions such as finances, human resources and procurement. Over the past two years, it has promoted artificial intelligence services to encourage clients to shift from legacy on-site servers to IT infrastructure in the cloud, where average spending per client is higher. SAP's largest market is the US, which represents more than 30% of its sales. The weakened dollar poses currency pressures for the company. Cloud revenue increased 24% to €5.13 billion, excluding currency fluctuations, which was slightly below analysts' expectations. SAP's cloud backlog, an indicator of future cloud sales, increased to €18.1 billion in the second quarter, missing analysts' expectations of €18.5 billion. The number measures how much cloud revenue SAP signed to come in over the next 12 months. The company also said it 'continues to expect current cloud backlog growth at constant currencies to slightly decelerate in 2025.' About half of SAP's revenue and more than half of its operational profit were denominated in US dollars or correlated currencies, Asam said in a media call after the results. A devaluation of the dollar of 1% meant SAP was roughly losing half a percentage point of growth, according to Asam. 'We are facing a significant currency headwind this year,' he said. Investors are watching the effect of currency fluctuations on next year's outlook, according to Rob Hales, a senior equity analyst at Morningstar. 'It could move the stock when we start getting indications from management on the potential impact of currency next year,' he said. SAP has probably significantly increased the incentives it offers customers for their cloud migration, which could impact cash flow next year, UBS Group AG analysts including Michael Briest said in a note last week. (Updates with CFO and analyst comments starting in fourth paragraph.) Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Burning Man Is Burning Through Cash A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 minutes ago
- Yahoo
Trump readies new hands-off AI 'action plan' that offers a split with Biden
President Trump is expected to release an AI "action plan" on Wednesday that reportedly outlines how the US can win in the global race to develop artificial intelligence by fostering a hands-off regulatory approach to the technology. Media reports suggest the document will likely mark a split from Biden administration policies, which favored restrictions against exports of AI chips and steps to ensure AI was not used to spread misinformation. The White House, according to a Reuters report that cited a summary of the draft action plan, will likely discuss how to make it easier to export AI technology abroad and reduce barriers to its development in the US. That may include everything from faster permitting for building AI data centers to more use of AI at the Pentagon to identifying which federal regulations slow down AI and even withholding federal funding from states with tough AI laws already in place. Trump is expected to discuss the topic during a speech at a Wednesday event titled "Winning the AI Race," organized by White House AI and crypto czar David Sacks and his co-hosts on the "All-In" podcast. The strategy announcement from the White House is the outcome of an order Trump signed in his first week that asked for an AI action plan to "sustain and enhance America's global AI dominance in order to promote human flourishing, economic competitiveness, and national security." Some executive orders are also expected this week, according to Axios and the Wall Street Journal, that would promote the exports of chips and AI technology to countries considered friendly to the US. There may be an order that targets "woke AI," according to The Wall Street Journal. It would target AI developers that the administration believes create liberally biased algorithms and block them from serving as federal contractors. The White House didn't respond to a request for comment. Two constitutional law scholars who talked with Yahoo Finance said it is doubtful the "woke AI" measure will withstand legal scrutiny. "If you sanction software that is liberal, but not software that is conservative, the challenge will be that the executive order is content-based discrimination," said UC San Francisco School of Law professor Rory Little. "I don't even know how you tell if software is liberal or conservative," Little said, adding that the First Amendment protects intellectual property as forms of speech that the government may not single out for punishment. But the order's constitutional viability may not matter in the short term for companies like Amazon (AMZN), Anthropic ( Google (GOOG), OpenAI ( Microsoft (MSFT), and Perplexity ( all of which are vying to supply AI systems to the government. Even if the order is met with legal challenges, AI developers might not have time to wait out a court solution. "A lot of people are trying to make deals with the Trump administration, so they view these executive orders not as law, but as the opening bid in a negotiation," Little said. "If you're an AI company, like Google, you're probably going to do your best to negotiate something that permits whatever you want to do to go forward," he added. "And you could care less what atmospheric politics might look like, so long as you're making money on your software." OpenAI CEO Sam Altman said Tuesday at a Federal Reserve banking conference in Washington, D.C., that his company now has lots of government work. "We are increasingly working with the government to roll out our services to lots of government employees," Altman said. If such an AI order is issued and then challenged, a court fight is likely to resemble those in multiple ongoing lawsuits against two other DEI-focused executive orders issued by Trump during his first days back in office. Those earlier orders directed all federal contractors to certify that they do not operate DEI programs in violation of anti-discrimination laws. They also shuttered government offices and employment positions focused on DEI. David Coale, a partner with the law firm Lynn Pinker Hurst & Schwegmann, said the executive orders get into an area called the "unconstitutional conditions" doctrine, which prohibits the government from conditioning a grant on the exercise of constitutional rights. "This [type of] proposal goes too far," Coale said, explaining that tying the eligibility to an AI's liberal bias presents "serious First Amendment issues." Alexis Keenan is a legal reporter for Yahoo Finance. Follow Alexis on X @alexiskweed. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data