Latest news with #Prudential
Daily Mail
16 hours ago
- Business
- Daily Mail
ALEX BRUMMER: Fred Goodwin's ghost still stalks financial corridors
The final escape of NatWest, the rebranded Royal Bank of Scotland, from government hands is a signal moment. Some 17 fractious years have passed since the Great Financial Crisis when NatWest ATMs came within minutes of drying up, and Gordon Brown's government took effective control with a £45.5billion bailout. All told, UK plc expended almost a trillion pounds in the shape of support measures directly and through the Bank of England to keep the City from imploding. So much time has passed that memory of Fred Goodwin, the architect of RBS's self-destruction, has faded. But not for investors in RBS/NatWest stock. I was among the foolhardy shareholders, along with big battalions such as the old Prudential, who were persuaded by Goodwin to support a £12billion rescue rights issue in the spring of 2008. We believed that Fred was smart enough to pull the bank back from the brink. Goodwin, in a frenzy of macho competitiveness, had outbid Barclays to take control of ABN Amro, a Dutch bank weighed down with sub-prime mortgage securities. What we didn't know was that Goodwin was a chief executive with a megalomania complex. Dissatisfied with two tower blocks on Bishopsgate in the City and a historical HQ on St Andrews Square in Edinburgh, he built himself a glass palace at Gogarburn downwind from a pig farm. Among the quirks was a designer fish kitchen in reach of his office and filing cabinets with rounded tops to prevent papers piling up. Nurturing NatWest back to health has proved a titanic exercise. Valuable subsidiaries such as Worldpay, Direct Line and Citizens in North America were jettisoned and the balance sheet shrunk. Scandal erupted when the bank's Global Restructuring Group (GRG) forced otherwise healthy client companies to the wall. Why did RBS/NatWest stay in government control for so long? In the US, bailed-out banks and the insurer AIG were returned to the public markets swiftly with the federal government taking contemporary losses. Rapid recovery of lending by US financial groups followed, and a speedy return to trend growth as credit and investment returned to normal. The failure of successive British governments to return the banks to the market and over-regulation has left an indelible mark on the UK, where growth has subsided to half the trend rate before the crisis. Banks and insurers were force-fed into holding excess capital and government stock. Credit and loans, the lifeblood of investment and output, were stymied. Excessive caution, designed to prevent a repeat of 2008-09, has proved destructive to expansion for Britain's advanced tech, pharma, creative and defence sectors. Politics explains why the Government held on to the NatWest stake for so long. No politicians, Labour or Tory, wanted blame for losing taxpayer cash. But the Government stake, even as it shrank, affected behaviour. Pay and bonuses were constrained, which meant that NatWest found it difficult to recruit the most talented financiers. Government felt obliged to intervene in what should have been boardroom issues. This was most notable when Alison Rose was defenestrated as chief executive in 2023, after leaking some disobliging comments about Nigel Farage being de-banked at private offshoot Coutts. As NatWest fully returns to public markets, it is worth reflecting that £10billion of taxpayers' money has mysteriously disappeared. That is cash that Chancellor Rachel Reeves desperately needs.
Yahoo
a day ago
- Business
- Yahoo
ATxEnterprise 2025 Boosts Global Participation, Reinforces Singapore's Responsible AI and Innovation Leadership
SINGAPORE, May 30, 2025 /PRNewswire/ -- ATxEnterprise (ATxE) 2025, Asia's leading enterprise technology event and part of the Asia Tech x Singapore (ATxSG) platform, concluded its fifth and most ambitious edition this week at Singapore EXPO. This year's edition saw a 5% increase in international participation from over 110 countries. This reflects growing recognition that AI adoption is a global imperative requiring cross-border collaboration, responsible governance, and inclusive innovation. During the three-day event, new partnerships with industry giants Alibaba Cloud, Prudential and ST Engineering were announced to give more local SMEs access to cutting-edge technologies including artificial intelligence (AI), cloud and cyber security. Announced at the opening of ATxEnterprise by Mr Tan Kiat How, Senior Minister of State for Digital Development and Information, these new collaborations, in support of the nation's Digital Enterprise Blueprint (DEB), will equip businesses to accelerate the adoption of frontier technologies and strengthen cyber resilience with advanced AI capabilities. Mr Tan also launched two new talent programmes that will provide upskilling opportunities and create specialised AI career pathways for locals. These programmes will train AI practitioners ahead of demand as Singapore ramps up on accelerating Generative AI (GenAI) adoption across the enterprise ecosystem, strengthening the nation's position as a global AI hub. Spanning across twelve dedicated stages, the event united global tech leaders, policymakers, and innovators to explore emerging technologies. From GenAI and quantum computing to satellite infrastructure and cybersecurity, the message is clear: AI is transforming every sector, and must be scaled inclusively. Innovation and Partnerships Driving the Digital FrontierFlagship conferences such as the AI Summit Singapore brought together enterprise leaders, regulators, and researchers to explore responsible tech scaling and stronger digital infrastructure, through AI integration. Notable speakers from UBS, Deel, A*STAR, DHL, Ernst & Young, Mastercard, SingHealth, Singtel, and Dyson led sessions on topics, including AI governance, sector-specific use cases, and breakthroughs in natural language processing and quantum AI. SatelliteAsia, in partnership with Singapore Space & Technology Ltd. (SSTL) and the Global Satellite Operators Association (GSOA), spotlighted the role of satellites in infrastructure, sustainability, and digital inclusion. Speakers from NASA, Kacific, Telesat, and ST Engineering iDirect discussed regional space ambitions and connectivity solutions. Recognising Impact, Shaping What's NextCapping off the week was the debut of the Enterprise Tech Awards, honouring digital transformation excellence. With 90 award submissions from 14 countries, the Awards spotlighted innovation in Healthcare, Cybersecurity, AI, Digital Solutions, GreenTech, and Government Services. Winners included NEC Asia Pacific, Starhub, Seagate, Globant, and ATxE 2025 also hosted a CISO Tech Briefing and Enterprise Tech Leaders Forum, where senior decision-makers discussed regulatory alignment, innovation, and enterprise resilience. Together, these programmes signalled ATxE's evolution from a showcase to a strategic convening ground for global leaders shaping the digital economy. This growing influence was reflected in the rise in international attendees and high-level engagement. "ATxE 2025 has set a new benchmark for enterprise innovation in Asia," said Joyce Wang, Event Director, Asia Tech x Singapore. "From breakthrough technologies to bold cross-sector partnerships, this year's edition proved that the region isn't just participating in the global tech conversation—it's leading it. It also reinforces Singapore's ability to host world-class MICE events that convene decision-makers, innovators, and global thought leaders. We're proud to provide a platform that turns ambition into action, and we look forward to delivering even greater impact in 2026." ATxE will return to the Singapore EXPO from 20 - 22 May 2026, continuing to shape the region's digital future through meaningful partnerships, actionable insights, and bold innovation. - ENDS - About Informa Festivals Informa Festivals is home to Informa's experience-led events. In five global and fast-moving markets, we inspire and celebrate business with events that deliver unique experiences, immersive activities, high-impact content, powerful connections and personal enrichment. Our leading international Tech festivals include London Tech Week, Africa Tech Fest and Asia Tech x Singapore. For more information, please visit View original content to download multimedia: SOURCE Informa Festivals
Yahoo
a day ago
- Business
- Yahoo
ATxEnterprise 2025 Boosts Global Participation, Reinforces Singapore's Responsible AI and Innovation Leadership
SINGAPORE, May 30, 2025 /PRNewswire/ -- ATxEnterprise (ATxE) 2025, Asia's leading enterprise technology event and part of the Asia Tech x Singapore (ATxSG) platform, concluded its fifth and most ambitious edition this week at Singapore EXPO. This year's edition saw a 5% increase in international participation from over 110 countries. This reflects growing recognition that AI adoption is a global imperative requiring cross-border collaboration, responsible governance, and inclusive innovation. During the three-day event, new partnerships with industry giants Alibaba Cloud, Prudential and ST Engineering were announced to give more local SMEs access to cutting-edge technologies including artificial intelligence (AI), cloud and cyber security. Announced at the opening of ATxEnterprise by Mr Tan Kiat How, Senior Minister of State for Digital Development and Information, these new collaborations, in support of the nation's Digital Enterprise Blueprint (DEB), will equip businesses to accelerate the adoption of frontier technologies and strengthen cyber resilience with advanced AI capabilities. Mr Tan also launched two new talent programmes that will provide upskilling opportunities and create specialised AI career pathways for locals. These programmes will train AI practitioners ahead of demand as Singapore ramps up on accelerating Generative AI (GenAI) adoption across the enterprise ecosystem, strengthening the nation's position as a global AI hub. Spanning across twelve dedicated stages, the event united global tech leaders, policymakers, and innovators to explore emerging technologies. From GenAI and quantum computing to satellite infrastructure and cybersecurity, the message is clear: AI is transforming every sector, and must be scaled inclusively. Innovation and Partnerships Driving the Digital FrontierFlagship conferences such as the AI Summit Singapore brought together enterprise leaders, regulators, and researchers to explore responsible tech scaling and stronger digital infrastructure, through AI integration. Notable speakers from UBS, Deel, A*STAR, DHL, Ernst & Young, Mastercard, SingHealth, Singtel, and Dyson led sessions on topics, including AI governance, sector-specific use cases, and breakthroughs in natural language processing and quantum AI. SatelliteAsia, in partnership with Singapore Space & Technology Ltd. (SSTL) and the Global Satellite Operators Association (GSOA), spotlighted the role of satellites in infrastructure, sustainability, and digital inclusion. Speakers from NASA, Kacific, Telesat, and ST Engineering iDirect discussed regional space ambitions and connectivity solutions. Recognising Impact, Shaping What's NextCapping off the week was the debut of the Enterprise Tech Awards, honouring digital transformation excellence. With 90 award submissions from 14 countries, the Awards spotlighted innovation in Healthcare, Cybersecurity, AI, Digital Solutions, GreenTech, and Government Services. Winners included NEC Asia Pacific, Starhub, Seagate, Globant, and ATxE 2025 also hosted a CISO Tech Briefing and Enterprise Tech Leaders Forum, where senior decision-makers discussed regulatory alignment, innovation, and enterprise resilience. Together, these programmes signalled ATxE's evolution from a showcase to a strategic convening ground for global leaders shaping the digital economy. This growing influence was reflected in the rise in international attendees and high-level engagement. "ATxE 2025 has set a new benchmark for enterprise innovation in Asia," said Joyce Wang, Event Director, Asia Tech x Singapore. "From breakthrough technologies to bold cross-sector partnerships, this year's edition proved that the region isn't just participating in the global tech conversation—it's leading it. It also reinforces Singapore's ability to host world-class MICE events that convene decision-makers, innovators, and global thought leaders. We're proud to provide a platform that turns ambition into action, and we look forward to delivering even greater impact in 2026." ATxE will return to the Singapore EXPO from 20 - 22 May 2026, continuing to shape the region's digital future through meaningful partnerships, actionable insights, and bold innovation. - ENDS - About Informa Festivals Informa Festivals is home to Informa's experience-led events. In five global and fast-moving markets, we inspire and celebrate business with events that deliver unique experiences, immersive activities, high-impact content, powerful connections and personal enrichment. Our leading international Tech festivals include London Tech Week, Africa Tech Fest and Asia Tech x Singapore. For more information, please visit View original content to download multimedia: SOURCE Informa Festivals
Newsweek
2 days ago
- Business
- Newsweek
Prudential Group Insurance President: The Workforce Risk Employers Can't Afford to Ignore
Business leaders are focused on plenty of external risks right now—economic volatility, changing regulations, and rising costs. But there's another threat that isn't getting enough attention: A growing disconnect between what employees need from their benefits and what companies are offering. That gap is more than a human resources issue. It's a blind spot with real bottom-line consequences. It puts recruiting, reputation, and retention at risk at a time when none of those can be taken for granted. An office block with lots of lit up windows and late office workers inside is pictured. An office block with lots of lit up windows and late office workers inside is pictured. Getty Images In Prudential's Benefits & Beyond 2025 study, we found that while 86 percent of employers say their benefits are modern, only 59 percent of employees agree. And the impact shows up quickly: When benefits are seen as modern, employee satisfaction hits 91 percent, and 90 percent say they're likely to stay. But when benefits don't feel relevant, satisfaction drops to 68 percent and retention falls to 73 percent. In my years in the workplace benefits industry, I've seen companies lose great talent—not because of salary, but because the support didn't line up with people's lives. Lack of caregiving help, limited mental health access, or the stress of unexpected medical costs can be a catalyst to quiet quitting—or walking away entirely. And I've seen something else too: wide disparities in how benefits are packaged, delivered, and explained. Across the industry, there's little consistency. Some employers offer robust options—legal services, supplemental health, accident insurance—while others offer just the basics. Even more troubling is how little education employees receive about their options. Too often, they're left to decode PDFs in a short open enrollment window—hardly the recipe for confident decisions. We're at a turning point—and historically, this kind of disconnect is rare. There have only been a handful of times when employers and employees were this far apart on what a "good job" looks like: During the industrial shifts of the late 20th century, the dot-com boom when perks replaced real support, and now, in a post-pandemic workforce shaped by new expectations. People are juggling more than ever—family responsibilities, mental health challenges, rising costs, and the need for more flexibility. They're not just asking for more benefits—they're asking for better ones. But many companies still miss the mark. Employers often prioritize mental and physical health. But employees told us their biggest concerns are saving for retirement, managing paycheck-to-paycheck stress, and feeling secure in their jobs. That disconnect—especially around financial wellness—shows how easy it is to assume we're getting it right when we're not. And the consequences are real. I've read customer feedback by people who suddenly are without income but still have a life to manage, saying, "If I didn't have disability insurance, I don't know how I would've bridged the gap." Those reminders of the real-world value of our products are humbling—and they push us to do better. One moment that stuck with me happened during a benefits enrollment event for teachers in Trenton, N.J. The presenter failed to connect with the audience, had no materials prepared, and referenced examples that didn't resonate with the audience or reflect their real lives. Most attendees sat quietly on their phones, disengaged. It hit me hard: This is the reality for many workers. We assume they have the tools, the time, and the context to make the right benefit choices. But often, they don't. If we want employees to engage with benefits, we must meet them where they are—with empathy, relevance, and support. Benefits aren't a cost—they're one of the best tools leaders have to earn trust and keep great people. The companies that listen, cut through the clutter, and meet people where they are—those are the ones that will win. As expectations shift, benefits will become a test of whether a company really understands and values its people. The next phase of workforce strategy won't be driven by perks, it'll be driven by purpose. And benefits will say a lot about where a company stands. Michael Estep is president of Prudential Group Insurance, a business unit of Prudential Financial, Inc., which manufactures and distributes a full range of group life, long-term and short-term disability, voluntary, corporate, and trust-owned life insurance in the U.S. The views expressed in this article are the writer's own.
Yahoo
4 days ago
- Business
- Yahoo
Industry Leaders to Accelerate Tech Adoption including GenAI for more than 6,000 Enterprises
Three new partners in Digital Enterprise Blueprint to build SMEs' capabilities in GenAI, Cloud and Cyber Resilience AWS and Microsoft to work with IMDA to accelerate GenAI adoption and benefit 1,000 Digitally Mature SMEs 800 more local AI practitioner job and training opportunities to be created to support upcoming demand SINGAPORE, May 27, 2025 /PRNewswire/ -- New partnerships with industry giants Alibaba Cloud, Prudential and ST Engineering will give more local SMEs access to cutting-edge technologies including artificial intelligence (AI), cloud and cyber security. Announced today at the opening of ATxEnterprise by Mr Tan Kiat How, Senior Minister of State for Digital Development and Information, these new collaborations, in support of the nation's Digital Enterprise Blueprint (DEB), will equip businesses to accelerate the adoption of frontier technologies. Mr Tan also launched two new talent programmes that will provide upskilling opportunities and create AI career pathways for locals. These programmes will train AI Practitioners ahead of demand as Singapore accelerates Generative AI (GenAI) adoption across the enterprise ecosystem, strengthening the nation's position as a global AI hub. Three new partnerships to uplift digital capabilities of SMEs 2. IMDA will be working on three new partnerships designed to strengthen AI adoption and boost cyber resilience across the SME landscape. Partnership with Alibaba Cloud to raise cloud and AI capabilities – up to 3,000 SMEs and digital solution providers will receive support to raise cloud and AI capabilities through the Alibaba Cloud Digital Accelerator Programme. This comprehensive initiative equips businesses with practical cloud experience and technical resources, including support through cloud credits, technical training workshops, expert consultations, and trial access to Alibaba's Cloud AI Model Studio. Partnership with Prudential Singapore to enhance GenAI adoption – under the GenAI Xponential Programme, Prudential in partnership with its Talent Engagement Ecosystem partner, Republic Polytechnic, will produce a series of up to 10 GenAI tech explainer videos tailored for SMEs, and conduct up to four workshops to help SMEs learn more about IMDA's pre-approved GenAI solutions and promote adoption. Partnership with ST Engineering to launch the SME CyberResilience Programme – this initiative will provide up to 2,000 SMEs with a one-time complimentary cyber threat scanning service through IMDA's CTO-as-a-Service platform, while equipping them with crucial insights into emerging cyber threats and defence strategies through dedicated awareness events. 3. The new partnerships are part of the efforts under the DEB to power the next bound of digitalisation for enterprises. Since its launch in May 2024, the DEB has benefitted over 10,000 enterprises. Expanding GenAI support for Digitally Mature SMEs 4. IMDA's GenAI x Digital Leaders initiative was launched in 2024 to help DMEs build digital capabilities and overcome key challenges. Together with AWS and Microsoft, over 200 enterprises have been equipped with deeper technical understanding of GenAI and gained greater access to tech expertise and advice on deploying GenAI solutions. 5. IMDA is currently supporting 50 DMEs with project implementations that deliver concrete business impact - generating an estimated productivity increase of as high as 50% and annual cost savings of up to S$300,000. 6. IMDA is now strengthening its partnerships with AWS and Microsoft to accelerate frontier technology adoption. The enhanced initiative aims to reach more than 1,000 enterprises and support up to 500 projects in the coming year. The expanded collaboration will deliver twice the number of Tech Discovery Workshops and personalised Tech Deep-Dive sessions, while significantly reducing solution development costs and time by half by tapping on the latest technology development tools with pre-built GenAI modules. 7. DMEs will gain enhanced access to technical expertise, including subject matter experts and model developers, backed by essential resources such as compute power and cloud credits. Collaborations with AI Singapore and leading companies to provide 800 AI Practitioner job and training opportunities for locals 8. The demand for AI talent continues to increase as leading companies set up AI Centres of Excellence (CoEs) and build up their AI teams and activities in Singapore. To meet this demand, IMDA is boosting efforts to build Singapore's AI talent pipeline. Through the TechSkills Accelerator's (TeSA) Company-Led Training programme, IMDA has secured 400 local AI Practitioner roles through collaborations with leading companies such as Amazon Web Services (AWS), Microsoft, Oracle, and SingTel. 9. IMDA is also partnering with AI Singapore (AISG) and the industry to launch two new training programmes, which will provide another 400 AI Practitioner job and training opportunities for locals. AI Apprenticeship Programme (Industry) (AIAP(I)) – To train more locals to take up job opportunities in AI Practitioner roles. Pinnacle AI Industry Programme (PAIP) – Uplifting local AI Practitioners in frontier companies into expert model builders. 10. Set to launch in June 2025, the AIAP(I), developed in collaboration with AISG, will equip locals with AI, Data, and Machine Learning skills, and the opportunity to hone their skills in real-world projects through a six-month programme. The AIAP(I) aims to train 300 AI Practitioners in batches over two years. Upon completion, trainees will be ready for hiring by AI COEs and leading companies. 11. To build deeper technical expertise such as advanced AI model building and fine-tuning demanded by frontier companies, IMDA has partnered AISG's SEA-LION team to develop the PAIP. This initiative expected to be launched in the second half of 2025, is an intensive six-month full-time programme that will upskill 100 local AI Practitioners into expert model builders over three years. CONTACT: View original content to download multimedia: SOURCE Infocomm Media Development Authority of Singapore 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
