China's Q2 smartphone shipments down 2.4%, says Counterpoint
Apple's (AAPL.O), opens new tab sales in China fell 1.6% year-on-year while Chinese mobile maker Huawei's (HWT.UL) sales rose 17.6%, Counterpoint said in a press statement.
Huawei, the top vendor had a shipment share of 18.1%, followed by Vivo, Oppo and Xiaomi (1810.HK), opens new tab.
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South Wales Argus
7 minutes ago
- South Wales Argus
Businesses to notify government about ransom payments in cyber crime crackdown
The Home Office's proposals come after Marks & Spencer has refused to say if it paid a ransom to hackers in a major attack earlier this year. New measures would ban public sector bodies and operators of critical national infrastructure from paying ransom demands to hackers. The Home Office said this would help 'smash the cyber criminal business model' and make UK public services and businesses a less attractive target for ransomware groups. Nearly three-quarters of respondents involved in a public consultation, opened in January, showed support for the proposal, it said. Furthermore, under the proposals, businesses not covered by the ban would be required to notify the government if they intended to pay a ransom. The Government hopes this would allow it to give affected businesses advice and support, including alerting them if such a payment would risk breaking the law by sending money to sanctioned cyber criminal groups, many of whom are based in Russia. Ransomware refers to software used by cyber criminals to access the computer systems of its victims, which can then be encrypted or data stolen until a ransom is paid. M&S was targeted by hackers in April, forcing it to shut down its website for six weeks and costing the business an estimated £300 million. Co-op's hackers accessed data from all 6.5 million of its members (Co-op/PA) Co-op also had to shut off parts of its IT systems after a cyber attack that resulted in all 6.5 million of its members' personal data being stolen – including names, addresses and contact information. M&S's chair Archie Norman said earlier this month that the hack was believed to be instigated by hacking group Scattered Spider and an Asia-based ransomware operation named DragonForce. He refused to say whether or not the retailer had paid a ransomware demand following the attack, but said the 'damage had been done' once its systems were compromised. Security minister Dan Jarvis said: 'Ransomware is a predatory crime that puts the public at risk, wrecks livelihoods and threatens the services we depend on. 'That's why we're determined to smash the cyber criminal business model and protect the services we all rely on as we deliver our plan for change.' The chief executive of the British Library, Rebecca Lawrence, said it had been the 'victim of a devastating ransomware attack in October 2023'. 'The attack destroyed our technology infrastructure and continues to impact our users, however, as a public body, we did not engage with the attackers or pay the ransom,' she said. 'Instead, we are committed to sharing our experiences to help protect other institutions affected by cyber crime and build collective resilience for the future.' Co-op's chief executive Shirine Khoury-Haq said she welcomed the Government's proposals, adding: 'We know first-hand the damage and disruption cyber attacks cause to businesses and communities.' The package of measures could also result in the introduction of a mandatory reporting regime, which would give law enforcement greater intelligence to track down perpetrators, according to the Home Office.
Reuters
8 minutes ago
- Reuters
India's Paytm posts first-quarter profit
July 22 (Reuters) - India's Paytm ( opens new tab reported a quarterly profit on Tuesday aided by strong lending business and as it kept a tight lid on expenses. The company posted a profit of 1.23 billion rupees ($14.24 million) for the first quarter ended June 30, compared to a loss of 8.39 billion rupee in the year-ago quarter. The fintech firm's earnings in the same period last year was hurt by weakness in its payments business after the central bank's directive to shut down its banking unit in January, 2024. ($1 = 86.3470 Indian rupees)
Reuters
8 minutes ago
- Reuters
Akzo Nobel eyes decorative paint disposals in Asia after $1.6 bln India unit sale
July 22 (Reuters) - Dulux paints maker Akzo Nobel ( opens new tab plans to focus on its business-to-business offering in Asia during the next phase of its portfolio review, after the $1.6 billion sale of its India unit in June, its chief executive said on Tuesday. It will do this by increasing investments in coatings while selling off some decorative paints units in the region, CEO Greg Poux-Guillaume told Reuters. Performance coatings made up 62% of the group's adjusted core earnings in 2024. "Our aim is to be a market leader in everything that we do, and wherever we're not, we have to reassess," Poux-Guillaume said. Akzo Nobel, which sells decorative paints to consumers and professionals and specialised coatings used by many industries, had launched the first phase of the review in South Asia in October 2024. At the time, it called the region "ripe for consolidation" and said it would explore options including partnerships, joint ventures, mergers and divestitures. It now intends to apply the strategic framework used in India to other businesses and assets across Asia, with a focus on disposals rather than acquisitions, Poux-Guillaume told analysts in a post-earnings call. Asked about a recent Bloomberg News report that Akzo Nobel was considering the acquisition of BASF's ( opens new tab coatings arm, he said it had not committed to any such process. "We don't have the balance sheet for it ... and also we don't need the distraction at this point," Poux-Guillaume said. "BASF is looking for a cash transaction, and this is not something that we'll do." The sale of Akzo Nobel's liquid coatings business in India to JSW included a clause that it would retain the Dulux intellectual property and continue as the product's technology provider in the country, receiving a royalty of 4.5% of sales. Poux-Guillaume said future disposals were unlikely to include such agreements, as the entities under consideration were wholly owned by Akzo Nobel and not publicly listed.
