Latest news with #EDW
Business Wire
20-05-2025
- Business
- Business Wire
European DataWarehouse Opens Bangalore Office
FRANKFURT, Germany & BANGALORE, India--(BUSINESS WIRE)--European DataWarehouse (EDW), Europe's first securitisation repository, today announced the opening of a new office in Bangalore, India. This strategic expansion underscores EDW's continued commitment to technological innovation and excellence in client service across global markets. European DataWarehouse (EDW), Europe's first securitisation repository, today announced the opening of a new office in Bangalore, India. Share The Bangalore office will serve as a center for IT operations, software development, and support for EDW's flagship platforms, EDITOR and EDVANCE. It will also enable round-the-clock service for clients operating in non-European time zones and bring previously outsourced IT services in-house—enhancing security, responsiveness, and development agility. The new office will be led by Gopala Sankaran, Chief Technology Officer at European DataWarehouse, who joined the company in 2014 and brings extensive expertise in global tech strategy and development. Dr. Christian Thun, CEO of European DataWarehouse, commented: 'Establishing a presence in India is an important and exciting step for EDW. Bangalore is home to some of the world's best technology talent, and this expansion enables us to accelerate innovation while enhancing service for our clients across continents.' Gopala Sankaran, CTO, added: 'We're proud to deepen our global footprint with a vibrant new base in Bangalore. This office not only allows us to scale up development of our regulatory product portfolio but also to serve our clients more efficiently, no matter where they are in the world. It's a strong step forward in our mission to deliver reliable, forward-thinking solutions in the securitisation space and beyond.' The Bangalore team will play a key role in supporting European DataWarehouse's growing global user base and driving the evolution of its technology platform in a dynamic financial landscape. The establishment of the Bangalore office marks a significant milestone in European DataWarehouse's international expansion. It becomes the company's third operational location, complementing its headquarters in Frankfurt, Germany, and the London office, which opened in 2018 to support operations of EDW's UK subsidiary, European DataWarehouse Ltd. About European DataWarehouse GmbH European DataWarehouse (EDW) is a designated Securitisation Repository, authorised by both the European Securities and Markets Authority (ESMA) and the UK's Financial Conduct Authority (FCA). Established in 2012, EDW was the first repository of its kind in Europe, created to improve transparency and support due diligence in the asset-backed securities (ABS) market. EDW collects, validates, and provides access to standardised loan-level data and related documentation for ABS transactions and private whole loan portfolios. By serving as a central data hub, EDW enables investors, issuers, and regulators to efficiently analyse and compare portfolios, fostering greater trust and efficiency in the securitisation ecosystem. To learn more or stay up to date with our latest insights and developments, visit / or follow us on LinkedIn.
Winnipeg Free Press
19-05-2025
- Business
- Winnipeg Free Press
U.S. convention planners looking to bring events north, leave political uncertainty behind
Uncertainty about the current political climate south of the border has some organizers of conferences typically held in the United States feeling uneasy and considering Winnipeg's convention centre as an alternative. The RBC Convention Centre Winnipeg has, so far, received two requests for proposals from organizations looking to relocate their events from the U.S. to Canada this year. 'You have American conventions that are concerned if they continue… in the States, they might not attract the same number of delegates that they normally would from both Canada and internationally,' said David Chizda, the downtown facility's director of sales and business development. The RBC Convention Centre (Mikaela MacKenzie / Free Press files) Alternately, Canadian institutions worry they may lack full participation from Canadian members if they hold an event in the U.S., he said. He wouldn't identify the conference organizers who had reached out. The RFPs also went to other Canadian cities, he said. Meantime, Economic Development Winnipeg has tracked a slight jump in U.S. organizations' queries about hosting events. EDW received four U.S.-based requests for proposals over a single week in April. It's 'abnormal' for the agency, said Natalie Thiesen, EDW's vice-president for tourism. 'Our phone is ringing,' she said, adding the inquiries were not for conference relocations this year, because it's challenging to change course and get out of contracts. Organizations are planning for 2026 through 2030, as conventions are typically booked years in advance. The groups considering Winnipeg would draw 500 to 1,200 people at their events. A few requests for proposals have been related to agri-business, one of Manitoba's key sectors, Thiesen said. She highlighted 'security and safety' as a reason convention hosts may seek Canadian locations. The United States government has rolled back diversity, equity and inclusion programming and has toughened its stance on immigrants. 'We have a long history of welcoming people to our province,' she said. Uncertainty doesn't bode well for long-term planning of large events, she added: 'Decision-makers, they want to make sure that… they can count on the destinations (that) they're bringing their events to.' New conferences in the province are an opportunity to spotlight local business and academic ecosystems, Thiesen said. Roughly 40 events are scheduled at the RBC Convention Centre this year. The same pace is expected next year, Chizda said. Nationally, there were approximately 2,500 business events in 2024. Destination Canada approximates a $47-billion direct economic impact from such events. Conferences imported from U.S. organizations consume 70 per cent of the overall international convention volume in Canada, said Virginie De Visscher, Destination Canada's executive director of business events. The U.S. market has stayed 'strong and reliable,' she said. 'We're monitoring it really closely.' Destination Canada markets the country as having 'open hearts, open minds and open spaces.' Those attributes are likely making Canada a desirable event spot, given the geopolitical climate, De Visscher said. Conference bookings — and U.S conference relocations — are tracked at the city level, she added; Destination Canada didn't have data on how many American events have pivoted with plans to head north. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Business events in Canada drew 1.2 million visiting delegates, per Destination Canada research. The sector supports more than 240,000 jobs. Events 'of all shapes and sizes' directly impact downtown businesses and the local economy, Olivia Billson, the Downtown Winnipeg BIZ's communications manager, wrote in a statement. 'We always welcome the opportunity to bring more people downtown to experience everything our vibrant neighbourhood has to offer,' she wrote. In 2023, Manitoba welcomed 10.4 million visitors who spent a collective $1.82 billion, per Travel Manitoba data. Gabrielle PichéReporter Gabrielle Piché reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle. Every piece of reporting Gabrielle produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Winnipeg Free Press
08-05-2025
- Business
- Winnipeg Free Press
‘We love our U.S. friends, but we need to diversify'
Suits appear to be the jersey of choice for players scouted for 'Team Manitoba.' Roughly 270 business executives gathered Thursday at Economic Development Winnipeg's annual investor breakfast. Politicians, panelists and the economic development agency shared a similar message: it's time to band together. 'Given the landscape in the (United) States and around the world and that uncertainty, it's even more important for us to be investing in ourselves,' Manitoba Economic Development, Investment and Trade Minister Jamie Moses told the crowd at the Canadian Museum for Human Rights. MIKE DEAL / FREE PRESS Economic Development Winnipeg hosted its annual investor breakfast at the Canadian Museum for Human Rights on Thursday, with a panel moderated by EDW vice-president Alberto Velas- co-Acosta (from left) and featuring Marty Maykut of Price Industries, Brad Elias of Winnipeg Airports Authority, Chris Reiter of Focus Equities and Katie Hall Hursh of Megill-Stephenson Co. Both he and Winnipeg Mayor Scott Gillingham underscored their respective governments' promises to foster a business-friendly climate. It comes amid an investment chill felt within the private sector. Economic Development Winnipeg clocked a slowdown of investment in March. Repercussions from U.S. President Donald Trump's November election win hit Winnipeg before his tariffs were launched against Canada. In late 2024, a major foreign direct investor backed away from entering Manitoba after nearly inking a deal. The company would have brought 'significant' jobs with it, said Amanda Macdonald, Economic Development Winnipeg business development vice-president. She declined to share the company's name, adding it could plant roots in the future. The uncertainty Trump has unleashed worldwide is drawing new opportunities, said Economic Development Winnipeg's vice-president, international Alberto Velasco-Acosta. The agency made inroads with Sweden and Finland, when a delegation of European ambassadors visited last month, he added. 'We love our U.S. friends, but we need to diversify,' he said. 'We need to be proactive in other markets.' Attracting investment requires becoming speedier with permitting, approvals and project evaluations, Velasco-Acosta listed. Better information sharing and systems alignment between economic development-related entities would also help, Macdonald said. Organizations in Manitoba are already making headway, she added — instead of having 'too many cooks in the kitchen,' an investor may deal with one contact point who's sharing information on behalf of several groups, including real estate agencies and EDW. 'From a client perspective, you want just a few constant people,' Macdonald said. 'Like a concierge type of approach.' Macdonald presented Winnipeg as a 'blank slate' to event attendees. Last fall, Economic Development Winnipeg contacted roughly 60 American site selectors about the city's business perception. Executives knew more about Toronto, Vancouver, Calgary and Montreal. 'Being neutral isn't necessarily negative,' Macdonald said in her speech. 'It simply means others are more top of mind. That's a challenge for us, but it's also an opportunity.' She highlighted Winnipeg's location, clean energy and low operating costs as competitive advantages to broadcast. '(We should) leave with a sense of optimism and not only share with each other, but with the rest of the world,' panelist Katie Hall Hursh, vice-president of the Megill-Stephenson Company Ltd., told the crowd. Arnaud Franco, BDC director of economic research, clocked 'a lot of optimism' in Winnipeg's business community when he visited Monday, one day before Prime Minister Mark Carney met with Trump at the White House. Franco provided an economic outlook to BDC clients. Currently, the business bank projects a one per cent increase in Manitoba's GDP this year. The number is similar to the 1.1 per cent growth seen in 2024. Economic conditions could improve if a deal with the U.S. materializes, Franco noted. He's booked 11 speaking engagements across Western Canada this week. 'A lot of people want input, because this feeling of uncertainty that they've been facing, it's paralyzing for small businesses,' Franco said. 'They don't know if they should hire. They don't know if they should invest.' BDC hasn't tracked an influx in Manitoba business closures or layoffs due to tariffs, he added. Nor has Indeed noticed a sharp decline in job postings. There's been an overall decrease since early 2023, following a post-pandemic hiring boom. Manitoba mirrors a national trend. 'I think employers are still holding off on totally changing their hiring plans until we've got some clarity on the situation,' said Brendon Bernard, a senior economist with a recruiting and jobs online platform. Still, Indeed has experienced a 'modest decline' in Canadian job postings, he continued. Posts dropped 4.3 per cent nationally between the start of February — when U.S. tariffs were first expected to arrive — and mid-April. Manufacturing job listings plunged 10 per cent during the same time. Robert Half, a human resource firm, is seeing companies hire staff. Paused investment likely comes on the project front, said Mike Shekhtman, a senior regional director. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. 'It's a challenge because companies are trying to weigh some of their short-term, but also look at the long-term, repercussions for not hiring,' he stated. Economic Development Winnipeg expects to launch a strategy guiding Winnipeg's five-year economic growth this fall. Its goal is to be in 'full alignment' with an economic development strategy the Manitoba government is creating, Macdonald said. The provincial document is anticipated for release this year. EDW facilitated $281 million in capital investment last year, resulting in 644 jobs and $234 million worth of GDP growth, per data it shared Thursday. It surpassed its goal of drawing $350 million in capital investment and generating $900 million in GDP growth between 2021 and 2025. By the end of 2024, those numbers hit $1.16 billion and $919 million, respectively. Gabrielle PichéReporter Gabrielle Piché reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle. Every piece of reporting Gabrielle produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Yahoo
16-03-2025
- Business
- Yahoo
DOGE is flirting with the ‘third rail' of American politics — errors could delay or disrupt benefits, a former top Social Security official says
The Social Security Administration is laying off 12% of its workforce, and the loss of expertise, especially on key systems, could put benefits at risk as DOGE tries to look for fraud, according to a former staffer at the agency. Historically, toying with Social Security benefits has been long seen as a political 'third rail,' meaning whoever touches it will get zapped. The White House said in a press release it won't cut Social Security, Medicare, or Medicaid benefits, but that doesn't rule out the chances of a mistake. Amid the Department of Government Efficiency's cost-cutting endeavor within federal agencies in recent weeks, a former top Social Security Administration staffer is worried about benefit interruptions as the agency loses expertise while DOGE looks for fraud in its systems. In February, the SSA released a statement announcing plans to lay off roughly 12% of its 57,000 employees through voluntary resignation and a reduction-in-force plan. Meanwhile, President Donald Trump and world's richest man Elon Musk, the figurehead for DOGE, have claimed fraud on a massive scale, though experts have said it's limited. Still, DOGE is looking for evidence and seeks full access to the SSA's Enterprise Data Warehouse (EDW), which houses information about anyone with a Social Security number, including financial and banking information, according to a declaration filed in a lawsuit last week by former senior official Tiffany Flick. She said that SSA typically doesn't provide full access to all data systems—even to the most skilled and highly trained experts—to protect against inadvertent or unauthorized changes to the system. Flick said DOGE officials lacked interest in understanding SSA's systems and programs, while disregarding critical processes like providing the "least privileged" access on a need-to-know basis. 'That combined with a significant loss of expertise as more and more agency personnel leave, have me seriously concerned that SSA programs will continue to function and operate without disruption,' she said. Flick said that inadvertent error poses the risk of 'benefits payments not being paid out or delays in payments.' The SSA information technology programs are made up of complex systems that use old programming languages that require specialized knowledge, she warned, adding that they are easily broken if long-standing procedures aren't followed. 'I understand that DOGE associates have been seeking access to the 'source code' to SSA systems,' Flick wrote. 'If granted, I am not confident that such associates have the requisite understanding of SSA to avoid critical errors that could upend SSA systems.' In addition to her concerns regarding benefits, Flick is not convinced DOGE has the proper experience to prevent sensitive information from getting into the hands of bad actors. 'In such a chaotic environment, the risk of data leaking into the wrong hands is significant,' she said. Andrew Biggs, an American Enterprise Institute senior fellow, told Axios the agency could increase productivity and efficiency, but he doubts DOGE's ability to do so due to its lack of experience. 'I just find it hard to accept that you can go in there having been there just a few weeks, and do these far-reaching changes having fully thought out the consequences of them,' he said. Biggs says while checks are automated and won't be disrupted, possible disruptions to customer service bring concerns regarding budget cuts. 'It's kind of a foot race between whether they can improve service before these cuts are impacting service,' Biggs said. The White House, the U.S. DOGE Service, and the SSA did not respond to Fortune's request for comment. This story was originally featured on
