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Yahoo
16 minutes ago
- Business
- Yahoo
New Foundry survey highlights need for immutable and segregated data storage
With 37% still relying solely on their SaaS application's native backup and growing concerns over data sovereignty, updating SaaS recovery plans is a priority COPENHAGEN, Denmark, August 20, 2025--(BUSINESS WIRE)--Keepit, the only vendor-independent cloud dedicated to SaaS data protection, today announced the results of its survey "Overlooked and under-protected: How the SaaS data gap threatens resilience". The survey of senior IT decision-makers revealed that 37% of respondents rely solely on native backup capabilities, leaving organizations at risk of data loss and disruptions. Immutable, physically segregated data storage is seen as paramount alongside growing concerns over data and digital sovereignty. In the survey, sponsored by Keepit and conducted by Foundry for CIO MarketPulse in April and May 2025, more than 300 senior IT decision-makers in the US, Europe and Asia-Pacific1 responded to questions related to the state of their businesses' SaaS data protection. The responses highlighted the need for immutable, independent backup to secure business continuity and revealed possible gaps in protection. Key findings: 37% of respondents rely solely on their SaaS applications native backup capabilities, leaving organizations at risk of data loss. 11% of respondents say it would take a month or more to recover data after a loss incident — or that they may not be able to fully recover at all. 61% of respondents highlight physically segregated storage as a key requirement for modern SaaS backup. 49% of respondents have experienced a major data loss event in the past year. "It's surprising — and concerning — that in 2025, 37% still rely solely on their SaaS application's native backup," says Niels van Ingen, Senior Vice President of Business Development and Strategy at Keepit. "First, most SaaS applications don't have native backup. SaaS vendors follow a 'shared responsibility' model: they're responsible for the systems and controls, while customers are responsible for their own data, accounts, and identities. Second, even when native backup is available, it's tied to the SaaS application itself — so if you lose access to the vendor or your account, you lose access to your data. That's why SaaS vendors themselves recommend using a third-party backup." Evolving requirements put pressure on how and where you store your data SaaS resilience now requires infrastructure that's purpose-built to withstand the current, increasingly complex threat environment. Growing concerns over data sovereignty and digital sovereignty is driving organizations to take a closer look at vendor architecture, dependence on global hyperscalers, the supply chain and use of sub-processors, and compliance requirements. Consequently, according to survey respondents, the top requirements for modern backup include: Physically segregated storage (62%) – Data stored separately from the SaaS provider's environment to ensure true independence in case of platform or region-level failure. Immutable, encrypted storage (59%) – End-to-end encryption and immutability that prevents tampering or unauthorized deletion, with deletion controls built in at the architecture level, not simply reliant on user roles. Granular access and deletion controls – To meet requirements from GDPR and new regulations such as the Digital Operations Resilience Act (DORA), organizations must be able to apply retention, access, and deletion policies with precision. "As the survey data makes clear, relying on native backup is no longer enough. Organizations need to ensure their data is protected independently, immutably, and in alignment with evolving sovereignty requirements. In today's environment, control over your data location and architecture isn't just an IT preference — it's a business imperative," says Niels van Ingen. Download the report here About Foundry, an IDG Inc. company: Foundry helps companies bring their visions to reality through a combination of media, marketing technologies and proprietary data on a global scale. Our intent data and martech platforms are powered by data from an owned and operated ecosystem of global editorial brands, awards, and events, all engineered and integrated to drive marketing campaigns for technology companies. Foundry is dedicated to generating and innovating with data, driving demand for technology marketers with 38 offices in markets around the globe. Foundry is a wholly owned subsidiary of International Data Group, Inc. (IDG), the world's leading tech media, data, research and marketing services company. To learn more about Foundry, visit About CIO CIO attracts the highest concentration of enterprise CIOs and business technology executives with unparalleled peer insight and expertise on business strategy, innovation, and leadership. CIO readers gain key insights on career development for themselves and their employees, including certifications, hiring practices, and skills development, along with a strong foundation in digital transformation of their businesses. Visit About Keepit Keepit provides a next-level SaaS data protection platform purpose-built for the cloud. Securing data in a vendor-independent cloud safeguards essential business applications, boosts cyber resilience, and future-proofs data protection. Unique, separate, and immutable data storage with no sub-processors ensures compliance with local regulations and mitigates the impact of ransomware while guaranteeing continuous data access, business continuity, and fast and effective disaster recovery. Headquartered in Copenhagen with offices and data centers worldwide, more than 18,000 companies trust Keepit for its ease of use and effortless backup and recovery of cloud data. For more information visit or follow Keepit on Linkedin. ________________________ 1 About the research Foundry and Keepit conducted an online survey, "Overlooked and under-protected: How the SaaS data gap threatens resilience" sponsored by Keepit, among 301 senior IT decision-makers. Respondents work for companies with 1,000 or more employees located in the U.S., Europe and Asia-Pacific. The research was conducted between April 20 and May 13, 2025. View source version on Contacts RedIron PR for KeepitKari Ritaccokari@ 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
16 minutes ago
- Business
- Yahoo
FlexGen completes Powin assets acquisition, enhancing storage support
Energy storage technology provider FlexGen Power Systems has closed the acquisition of assets and intellectual property (IP) from Powin. The move positions FlexGen as a major supporter of more than 25 gigawatt hours (GWh) of battery energy storage systems (BESS) across more than 200 sites in ten countries with its software and services. In early August 2025, the company received approval from the US Bankruptcy Court for the District of New Jersey for the acquisition. The acquisition enhances FlexGen's international standing within grid-scale storage solutions. It comes at a crucial time when energy infrastructures globally face increased demand for reliable performance. FlexGen CEO Kelcy Pegler stated: 'Batteries are critical to meeting the world's growing demand for affordable, reliable electricity. This is more than an acquisition – it's a reflection of FlexGen's commitment to immediate continuity and the future of grid-scale storage. 'FlexGen's proven operational excellence, hardware-agnostic software and commitment to innovation uniquely position us to maximise the value of these Powin assets today, while enhancing the reliability and performance of energy grids worldwide for years to come.' FlexGen has also strengthened its workforce by integrating former Powin team members. This ensures that customers experience seamless service continuity and retain critical technical knowledge for the supported systems. Existing clients of Powin will continue to receive consistent support without interruption, and have the opportunity to improve system uptime and longevity by transitioning to FlexGen's proprietary HybridOS platform alongside their comprehensive lifecycle services. Powin CEO Brian Kane stated: "Powin is proud of the technology and projects we've delivered. The goal was to ensure that those systems and customers are supported by an industry leader that provides the support and services enabling reliable, long-term operation. 'Based on their experience and reputation, and having collaborated with their team in recent days, we have full confidence that FlexGen is that leader.' In April 2025, Trina Storage partnered FlexGen to implement a 371 megawatt hour energy storage system in the US state of Texas. The project, developed by SMT Energy, showcases Trina Storage's cutting-edge Elementa 2 solution. "FlexGen completes Powin assets acquisition, enhancing storage support" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
16 minutes ago
- Business
- Yahoo
FAF reappoints Frederick Cannon to FASB
The Financial Accounting Foundation (FAF) Board of Trustees has confirmed the reappointment of Frederick Cannon to the Financial Accounting Standards Board (FASB). Cannon's initial five-year term began on 1 July 2021, and his new term will start on 1 July 2026, lasting until 30 June 2031. FAF chair Edward Bernard said: 'On behalf of the FAF Board of Trustees, I am pleased that Fred will continue to serve the FASB for a second term. 'An accomplished economist and financial analyst, Fred is well-versed in areas such as equity strategy, investor relations, and corporate communications,' 'His focus and meticulous approach have made him an important contributor to the Board.' Cannon has held the position of executive vice-president and global director of research at Keefe, Bruyette & Woods, a Stifel Company, where he oversaw global equity research and served on the board of directors for the KBW broker/dealer. FASB chair Richard Jones said: 'Over the past five years, Fred has brought to our discussions keen insights drawn from his experience as a former investment professional. 'His ability to understand and incorporate diverse views as part of our standard-setting process exemplify his commitment to our mission and I am very pleased he has accepted a second term on the Board.' Established in 1973, FASB is an independent organisation, which is responsible for setting financial accounting and reporting standards for public and private companies, as well as not-for-profit entities. Additionally, the FAF Board of Trustees has appointed Dalia Blass as the new chair of the Board and Erin Hill as the executive director of the foundation. Blass will begin her three-year term as chair on 1 January 2026, with the option for a second three-year term starting on 1 January 2029. She will replace Edward Bernard, the current chair, whose term concludes on 31 December 2025. "FAF reappoints Frederick Cannon to FASB" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
16 minutes ago
- Automotive
- Yahoo
US tariffs on Chinese graphite spark opportunity for India's Epsilon
By Aditi Shah NEW DELHI (Reuters) -India's Epsilon Advanced Materials is moving swiftly to close deals to supply critical components to Japanese and South Korean battery makers in the U.S., a top executive said, after Washington imposed anti-dumping duties on Chinese imports. The U.S. in July imposed a punitive 93.5% tariff on import of graphite anode materials from China, creating an opportunity for India's Epsilon to break Beijing's monopoly on supplies of the key battery component. Indeed, U.S.-based battery makers are eager to secure alternative suppliers as the higher levies disrupt supply chains and stoke uncertainty, including over future price rises. Vikram Handa, managing director of Epsilon, which makes graphite anode materials for EV batteries, expressed confidence over some new supply deals. "Last month, they were saying let's wait and see how things go. Now we think in the next 60 to 80 days, we will close our contracts," said Handa. Epsilon, which announced plans for a $650 million factory in North Caroline in October 2023, has been working on getting permits and environmental clearances, while waiting for firm orders before putting a shovel in the ground. "The numbers now start making sense for customers to buy from the U.S.," said Handa, adding that the plant, which will have capacity of 30,000 tonnes of anode materials, is expected to be up and running by mid-2027. An EV battery is made up of four components - anode, cathode, electrolyser and separator. The anode contributes to fast-charging and vehicle range. The U.S. needs 500,000 tonnes of anode materials a year for its EV and energy storage battery needs, which were met largely by China, which refines over 90% of the world's graphite into the material used in almost all EV battery anodes. Mumbai-based Epsilon also has plans to invest over $1.1 billion in a 100,000-tonne anode materials facility in India's Karnataka state, but has yet to see serious interest in India. Handa said low Chinese prices were a draw for Indian companies, but he was trying to persuade them to buy at least 20% from Epsilon, so that "if China closes the tap," they had an alternative supplier. "If it is zero (demand for Epsilon's anodes) right now, how will I put up a plant?" he asked. "I hope this rare earth story doesn't play out the same way for battery materials," given Indian companies dependence on them, he said. 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
16 minutes ago
- Business
- Yahoo
Target promotes insider Fiddelke to CEO, keeps annual forecasts intact
By Siddharth Cavale and Juveria Tabassum (Reuters) -Target named insider Michael Fiddelke on Wednesday as its new CEO to succeed long-time top boss Brian Cornell, and beat quarterly estimates, helped by a recovery in traffic at its stores and average receipts. However, the company's shares fell 10% in premarket trading after it held on to its annual forecasts after lowering them in May when it blamed weak demand for the largely discretionary merchandise it sells like apparel and electronics items. Fiddelke, a 20-year company veteran most recently serving as chief operating officer, will take the helm on February 1, 2026 with Cornell transitioning to the role of executive chairman, the company said in a statement. "My number one goal is to get us back to growth," Fiddelke said during a media call on Target's second-quarter earnings report, which showed a 1.9% decline in comparable store sales, smaller than analysts' expectations of a 3% drop. Fiddelke, 49, said his three priorities are to improve the quality of merchandise, value and style that Target offers, ensure a more consistent shopper experience and to embed more technology in all parts of its business. "We need to move faster, much faster," he said. Over the past few years, Target has grappled with a series of challenges including merchandise missteps, retail crime, and inventory management issues. In the past year especially, it has struggled to maintain consistent sales growth, faced boycotts and lawsuits related to its diversity, equity, and inclusion (DEI) practices and remained reliant on sourcing from countries affected by broad-based tariffs imposed by U.S. President Donald Trump. These pressures have weighed heavily on its stock, which has declined 27% over the past year to Tuesday's close, when many of its peers have seen gains. DEEPER DISCOUNTS The retailer has taken steps to turn itself around, including intensifying efforts to entice customers worried about the economy. These have included offering 10,000 new items starting at $1, with most priced under $20, and launching several affordable private label lines. Still, consumers remain selective and are motivated by promotions as inflation continues to strain household budgets, Target executives noted on the call. Target said deeper discounts helped bring more shoppers into stores and boosted how much they spent. Store traffic improved from a 2.4% drop in the first quarter to a smaller 1.3% decline in the second. The average amount spent per visit also improved, falling just 0.6% compared to a 1.4% drop in the previous quarter. Sales improved across all six main product categories: apparel, beauty, food, home furnishings, hardlines, and household essentials. The hardlines category, which includes gaming devices such as the Nintendo Switch and other electronics, performed best, growing 5% and posting its strongest results since 2021. On tariffs and pricing, the company reiterated its stance from May, stating that price increases would be considered only as a last resort. Cornell, who has led Target for 11 years, noted progress in diversifying the company's sourcing strategy. This includes reducing reliance on store-brand products from China and leveraging Target's scale to navigate the tariff landscape more effectively. Target reported second-quarter net sales of $25.21 billion, beating estimates of $24.93 billion, according to data compiled by LSEG. Excluding items, the company reported earnings per share of $2.05, which topped Wall Street estimates by 2 cents. Like Target, home improvement company Home Depot also retained annual targets but warned of some price increases due to tariffs. Retail bellwether Walmart reports quarterly results on Thursday. 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
