Hackers steal data of most Allianz Life customers
Bengaluru — US insurance giant Allianz Life said on Saturday that hackers stole the personal information of the majority of its customers, financial professionals and select Allianz Life employees in the US.
The insurance giant’s filing with Maine’s attorney-general did not immediately provide the number of customers affected. As per the filing, the data breach, which the company described as a hack, occurred on July 16 and was discovered on July 17.
The data breach was first reported by TechCrunch. Reuters
KKR eyes Singapore-based data centre operator
Bengaluru — US investment firm KKR is in talks to buy Singapore-based ST Telemedia Global Data Centres in a deal that could value the Asian infrastructure provider at more than $5bn, Bloomberg News reported at the weekend, citing people familiar with the matter.
KKR and STT declined to comment to Reuters’ requests for comments on the report.
KKR is already a backer of the closely held data centre company with a 14.1% stake, Bloomberg News reported.
In 2024, a consortium of KKR and Singapore Telecommunications invested S$1.75bn ($1.37bn) in ST Telemedia, whose businesses include data centres and infrastructure technology. Reuters
China’s industrial profits continue downward trend
Beijing — China’s industrial profits continued to fall in June, data showed on Sunday, as persistent producer deflation put more margin pressure on businesses amid subdued domestic demand and lingering global trade uncertainty.
China’s economy slowed less than expected in the second quarter in a show of resilience to US tariffs. But punishing price wars among producers have prompted Beijing to pledge tougher regulations for vehicles and solar panels, among other industries engaged in cut-throat competition.
Profits at China’s industrial firms fell 4.3% in June from a year earlier, after a decline of 9.1% in May, while first-half profits were down 1.8% versus a slide of 1.1% in the period from January to May, National Bureau of Statistics data showed. Reuters
Shanghai gives WeRide ride-hailing robotaxis the nod
Beijing — Chinese autonomous driving technology company WeRide said on Saturday it has been granted a permit from the Shanghai municipal government to operate autonomous robotaxi ride-hailing services.
WeRide, in partnership with Chery Group and Jinjiang Taxi, will deploy fully driverless ride-hailing robotaxis on public roads in the Pudong New Area, the company said in a statement. Reuters
LVMH in talks to offload fashion label Marc Jacobs
New York — French luxury goods group LVMH is in talks with multiple buyers to offload its fashion label Marc Jacobs.
The Bernard Arnault-led company has been holding talks with potential buyers including Reebok-owner Authentic Brands Group and WHP Global, the sources, who asked not to be named because the discussions are confidential, said on Friday.
Authentic Brands declined to comment and WHP did not immediately respond.
Brookstone’s owner Bluestar Alliance is also a suitor for Marc Jacobs, which could be worth about $1bn, according to the Wall Street Journal, which earlier reported the news. Reuters
Paramount-Skydance mega-merger to close soon
Bengaluru — Paramount Global expects to complete its merger with Skydance Media by August 7, after government approval for the $8.4bn deal.
Skydance CEO David Ellison is prepared to assume the helm at Paramount, home to the venerable Paramount Pictures, the CBS broadcast network and a collection of cable television channels.
The new CEO already is confronted with questions from investors about the future of the Paramount+ streaming service, plans for Paramount’s declining television assets, and forecasts for spending on content, including professional sports.
Announced more than a year ago, the merger will unite Paramount’s prized film and TV library, including classics such as Ferris Bueller’s Day Off and Breakfast at Tiffany’s, with films it produced with Skydance, including Top Gun: Maverick and Mission: Impossible — Dead Reckoning. Reuters
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