Israeli cyber startup Zero Networks raises $55 million in private funding
It said that since its last funding round in late 2023, revenue has grown 300%, although it did not provide exact figures. Founded in 2019, the company added that its customer base has tripled, driven by its technology to prevent ransomware and other cyber attacks.
The round was led by Highland Europe, with participation from existing investors F2 Venture Capital, PICO Venture Partners, Venrock and U.S. Venture Partners (USVP).
Zero Networks said the new investment will help fuel its growth and expansion in North America, Europe, Middle East and Africa as well as the Asia-Pacific region.
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Yahoo
an hour ago
- Yahoo
Analysis-India-US spat over trade and oil threatens wider fallout
By Krishna N. Das, David Brunnstrom and Shivam Patel NEW DELHI/WASHINGTON (Reuters) -U.S. President Donald Trump's tirade against India over trade and Russian oil purchases threatens to undo two decades of diplomatic progress, analysts and officials say, and could derail other areas of cooperation as domestic political pressures drive both sides to harden their stances. India's opposition parties and the general public have urged Prime Minister Narendra Modi to stand up to what they call bullying by Trump, who on Wednesday signed an executive order subjecting Indian imports to an additional 25% in duties on top of an existing 25% tariff, due to its big purchases of Russian oil. While India has emerged in recent years as a key partner for Washington in its strategic rivalry with China, its large U.S. trade surplus and close relations with Russia - which Trump is seeking to pressure into agreeing to a peace agreement with Ukraine - have made it a prime target in the Republican president's global tariff offensive. Trump's taunt that India could buy oil from arch enemy Pakistan has also not gone down well in New Delhi, said two Indian government sources. India has also rejected repeated claims by Trump that he used trade as a lever to end a recent military conflict between India and Pakistan. In an unusually sharp statement this week, India accused the U.S. of double standards in singling it out for Russian oil imports while continuing to buy Russian uranium hexafluoride, palladium and fertiliser. On Wednesday, it called the tariffs "unfair, unjustified and unreasonable," vowing to "take all actions necessary to protect its national interests." But New Delhi knows that any further escalation will hurt it in matters beyond trade, said the sources. Unlike China, India does not have leverage like supplies of rare earths to force Trump's hand to improve the terms of any trade deal, they said. In recent years, successive U.S. administrations, including Trump's first, carefully cultivated relations with India with an eye on it as a vital partner in long-term efforts to counter the growing might of China. But analysts say Trump's recent moves have plunged the relationship back to possibly its worst phase since the U.S. imposed sanctions on India for nuclear tests in 1998. "India is now in a trap: because of Trump's pressure, Modi will reduce India's oil purchases from Russia, but he cannot publicly admit to doing so for fear of looking like he's surrendering to Trump's blackmail," said Ashley Tellis at Washington's Carnegie Endowment for International Peace. "We could be heading into a needless crisis that unravels a quarter century of hard-won gains with India." Indian state refiners have in recent days stopped buying Russian oil as discounts narrowed and pressure from Trump rose, Reuters has reported. NEW CHALLENGES FOR RELATIONS A more pressing challenge for India, analysts say, is the stark divergence between its priorities and Trump's political base on key issues such as work visas for tech professionals and offshoring of services. India has long been a major beneficiary of U.S. work visa programs and the outsourcing of software and business services, a sore point for Americans who have lost jobs to cheaper workers in India. Relations with India risk becoming a "football in American domestic politics," warned Evan Feigenbaum, a former senior State Department official under the Republican presidency of George W. Bush. "Issues that directly touch India are among the most partisan and explosive in Washington, including immigration and deportation, H1B visas for tech workers, offshoring and overseas manufacturing by U.S. companies, and technology sharing and co-innovation with foreigners," he wrote in a LinkedIn post. Since a 2008 deal to cooperate on civilian nuclear technology, the two countries have deepened intelligence sharing and defence cooperation and expanded interactions with Australia and Japan through the Quad grouping aimed at containing China's dominance in the Indo-Pacific. But fractures have appeared, despite Modi's rapport with Trump in his first term and then former President Joe Biden. Images in February of Indians deported by the U.S. on military planes, their hands and legs shackled, horrified the country just days before Modi went to see Trump seeking to stave off high tariffs. The relationship was also seriously tested in late 2023 when the U.S. said it had foiled a plot with Indian links to kill a Sikh separatist leader on U.S. soil. New Delhi has denied any official connection to the plot. "The Modi regime's credibility in the U.S. has gone down," said Sukh Deo Muni, a former Indian diplomat and a professor emeritus at New Delhi's Jawaharlal Nehru University. "And maybe there are people who think that India or Modi had to be brought back on track, if not taught a lesson. And if that trend continues, I'm quite worried that the challenge is quite powerful and strong for India to navigate." STRENGTHENING TIES WITH U.S. RIVALS One Indian government source said India needs to gradually repair ties with the U.S. while engaging more with other nations that have faced the brunt of Trump tariffs and aid cuts, including the African Union and the BRICS bloc that includes Brazil, Russia, China and South Africa. India is already making some moves with Russia and China. Russian President Vladimir Putin is expected to visit New Delhi this year and on Tuesday, Russia said the two countries had discussed further strengthening defence cooperation "in the form of a particularly privileged strategic partnership." India has also boosted engagement with China, a change after years of tensions following a deadly border clash in 2020. Modi is set to visit China soon for the first time since 2018. "Russia will attempt to exploit the rift between the U.S. and India by proposing the restoration of the Russia-India-China trilateral and new projects in defence," said analyst Aleksei Zakharov at the Observer Research Foundation in New Delhi. "India will undoubtedly be mindful of structural factors such as sanctions against Russia and will seek to find a compromise with the Trump administration." 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Yahoo
2 hours ago
- Yahoo
How the Tariffs on Japan Could Affect Auto Prices
The latest White House news is that tariffs on Japan's imports, including automobiles, have dropped to 15% — as opposed to the 27.5% they were before, per Reuters. Along with this, U.S. automakers will now have fewer restrictions on the Japanese consumer market. This is all part of a larger deal, which includes a $550 billion investment package from Japan to the U.S. Be Aware: Check Out: For consumers, the question becomes: How does this change affect auto prices? Here are some possibilities. Automobile Prices Could Rise — Depending on the Maker The average cost of a new vehicle is $47,962, according to Kelley Blue Book. However, prices are across the board with some vehicles (like sedans) having a lower purchase price than others (like larger SUVs or trucks). According to World Bank data, the previous tariff rate on goods imported from Japan was around 2%. While the new rate of 15% is lower than President Donald Trump's previously proposed 25% rate, the cost of Japanese automobiles could still rise. 'By directly raising the cost of imported Japanese vehicles and parts, which account for a significant share of what's sold and serviced here, tariffs would push sticker prices up for consumers,' said Robert Khachatryan, the CEO and founder of Freight Right. 'Even US-assembled Japanese-brand cars rely on Japanese-made components, so the cost increase filters through the entire supply chain.' Read Next: But it's not just Japanese vehicles that could become more expensive. Non-Japanese automakers might see this as an opportunity to raise their own prices. 'Domestic and European automakers may take advantage of the higher baseline to raise their own prices, since competitive pressure softens when the cheapest imports get more expensive,' said Khachatryan. Certain non-Japanese competitors — including major U.S. automakers that rely heavily on imports from places where tariffs are higher — could be at a disadvantage with these changes. For example, tariffs on Mexico and Canada are still at 25%. This could make Japanese automobiles the more affordable option for American consumers, at least for the time being. Automobile prices are interconnected, though. For example, many automakers rely on parts or production in other countries. So, this change to Japan's tariffs could impact companies across the globe. 'Automakers from other countries could benefit in the short term, particularly South Korean and European brands that don't face the same tariff exposure,' said Khachatryan. 'That said, retaliation or tariff escalation from Japan could disrupt the broader auto parts supply chain, which is deeply interconnected. No major automaker builds cars today using only local content.' It Could — and Has — Impacted Stock Prices Talk of tariff hikes has led to changes in share prices. With the announcement of the deal between the U.S. and Japan, stocks for Toyota and Honda both rose. 'Investors tend to price in uncertainty, and tariffs create both margin pressure and demand risk,' said Khachatryan. 'If consumers delay purchases due to price hikes, or if automakers absorb the cost to stay competitive, both scenarios compress earnings and that usually gets reflected in share prices.' The deal is still being ironed out, so long-term changes remain to be seen. More From GOBankingRates 5 Ways Trump Signing the GENIUS Act Could Impact Retirees7 Luxury SUVs That Will Become Affordable in 2025 This article originally appeared on How the Tariffs on Japan Could Affect Auto Prices
Time Magazine
2 hours ago
- Time Magazine
How Modi Misread Trump
Few leaders are as good at marketing themselves as India's Narendra Modi. Since his election as Prime Minister in 2014, he has projected himself as the builder of a stronger and more assertive India, claimed credit for its robust economic growth, and has blamed his predecessors when things went wrong. A generation of voters believe India's growing stature on the world stage is because of him. But then comes Donald Trump, the disruptor par excellence, who on Wednesday threatened staggering 50% tariffs on imports from the world's fourth largest economy. India now faces among the steepest U.S. levies of any nation. The announcement is a remarkable development considering the past bonhomie between the two men. Modi and Trump are populists with ideological similarities and had previously campaigned for each other. And this year, Modi became one of the first world leaders to visit the White House following Trump's return to office in January. He called him a 'great friend' during the February visit and the two pledged to double U.S.-India trade to $500 billion by 2030. But trouble boiled over in late July, when Trump announced a 25% tariff on Indian goods, which he doubled on Wednesday. The U.S. President has zeroed in on India's significant purchase of Russian oil as a deadline for Moscow to agree to a cease-fire in Ukraine looms. Read More: Modi's Unraveling Has Begun The new tariffs—which come into force on Aug. 27—won't necessarily protect U.S. markets or businesses. But they will punish a country that currently imports 36% of its oil from Russia, up from a mere 0.2% before the Kremlin's full-scale invasion of Ukraine over three years ago. Much of this bargain oil is used for domestic consumption—India imports more than 80% of the oil it needs, and quickly finding another supplier will be neither easy nor cheap. That may be one reason the Indian government has shot back at the tariffs, calling them 'unfair, unjustified, and unreasonable.' But another may be a sense that Western nations are being hypocritical. New Delhi has been quick to point out that the E.U. continues to do considerable business with Russia, and that Washington had previously supported India's purchase of Russian oil to help stabilize global energy prices. Local refiners are now awaiting word from New Delhi on whether to continue buying Russian oil, sources told Reuters, while India's national security adviser is in Moscow, where he said Putin will visit India later this year. Top Modi aides are expected to visit Russia in the coming days. But however the Modi government chooses to respond, one thing is clear. The 'friendship' Modi thought he had with Trump was ultimately a dysfunctional dalliance—defined by Modi's effusiveness and Trump's ruthless self-interest. The bromance is over. Personal chemistry cannot override the cold math of global interests. Even leaving aside the matter of Russian oil, the U.S. and India have been diverging on trade, tariffs, and geopolitics. Trump wants to bring back manufacturing jobs to the U.S.; Modi's 'Make in India' campaign is in part a pitch to American firms to relocate from China to India. Modi's approach is simply incompatible with Trump's 'America First' policies. India is also profoundly miffed about Trump's sudden, tactical tilt toward Pakistan. In June, he hosted the Pakistani army chief at the White House, and has recently announced an oil exploration deal with Pakistan. He also annoyed India no end by claiming credit for bringing about a ceasefire between India and Pakistan after a four-day conflict in May. None of this is pleasing to a country that has fought bitter wars with Pakistan, and whose officials have over the past two decades assiduously invested to elevate Indo-U.S. relations to a higher plane. Trump's moves have shaken those foundations. Read More: How Modi's Economy Has Really Fared Under Modi His words have also shocked the Indian establishment. Trump went so far as to label India's economy 'dead' last week and accuse Modi of 'profiting from chaos,' effectively turning a symbol of friendship into a lever for public shaming and coercion. Indian diplomats are used to quiet, behind-the-scenes diplomacy. After staying silent for some days, Modi on Thursday appeared to address the tariffs when he said that he would not compromise on the interests of Indian farmers. But he has a tough balancing act ahead. If he concedes on any point, he risks reputational damage at home. But if he attempts to take on America, he risks further escalation that can harm an inconsistent economy that is now intertwined with America more than ever before. The U.S. is India's biggest trade partner and much of the country's $86 billion in goods exports to America will not be viable if the tariffs come into force as expected in 20 days. Trump's tariff announcements are often arbitrary, and he routinely revises rates, sometimes backing off, but sometimes turning more aggressive. There are also domestic political risks for Modi. The opposition has seized on the moment, and upped the ante by calling the tariffs 'economic blackmail' and an attempt to 'bully India into an unfair trade deal' as negotiations continue. The lesson for India is that hard interests, not warm hugs, drive policy. For Trump, no relationship seems sacred—only the art of the deal matters. Modi may have thought he could charm Trump; Trump was glad to be praised, but ultimately that is not enough. For the longest time, Indian foreign policy rested on the principle of strategic autonomy. But exercising such autonomy has costs, as we are seeing this week. The tariffs are a reminder to India that while its influence and economy have grown, its strategic relevance hasn't yet risen to a point where it can just have its way. Its foreign policy remains too independent for the West's liking, its markets still closed for many Western products, its bureaucratic procedures still cumbersome for foreign businesses, and its industries vulnerable to outside forces.
