JP Morgan says new US tariffs will test China’s ability to prop up its economy

CNBC | August 16, 2019

New U.S. tariffs on Chinese goods could deal another blow to the Asian economic giant — and it’s not clear how much more Beijing can do to prop up its economy, an economist from J.P. Morgan said on Friday. Since the ongoing tariff fight between Washington and Beijing started about a year ago, Chinese authorities have used both monetary and fiscal policies to limit the economic damage brought on by elevated U.S. tariffs. Those measures have worked to some extent, according to Bruce Kasman, chief economist and head of global economic research at the investment bank.

Spotlight

Health information technology (IT) and digital health are transforming the way that health care is delivered, managed, and improved while empowering individuals to more effectively manage their health and navigate an increasingly complex healthcare system. Since enactment of the bipartisan Health Information Technology Economic and Clinical Health (HITECH) Act on February 17, 2009, adoption of health IT, including electronic health records (EHRs), within the U.S. health care system has grown significantly and become the norm.

Spotlight

Health information technology (IT) and digital health are transforming the way that health care is delivered, managed, and improved while empowering individuals to more effectively manage their health and navigate an increasingly complex healthcare system. Since enactment of the bipartisan Health Information Technology Economic and Clinical Health (HITECH) Act on February 17, 2009, adoption of health IT, including electronic health records (EHRs), within the U.S. health care system has grown significantly and become the norm.

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EMERGING TECHNOLOGY

Octo Wins Spot on BPA to Serve DoD Joint Artificial Intelligence Center (JAIC)

Octo | May 17, 2022

Octo, the premier MLOps and data management solutions provider for the Federal Government, announced it has been awarded a spot on the Department of Defense (DoD) Joint Artificial Intelligence Center (JAIC) Test and Evaluation (T&E) five-year, $249 million Blanket Purchase Agreement (BPA). The multi-award contract supports the JAIC’s T&E team which is responsible for developing DoD-wide artificial intelligence (AI) testing and evaluation processes, tools, and standards. Under the BPA, Octo will provide test technology and tools for a variety of AI applications and develop T&E capabilities to support the DoD’s full spectrum of emerging AI technologies to include machine learning (ML), deep learning (DL), and neural networks. Octo will also test and evaluate existing technologies in support of mission objectives. The JAIC focuses on broad enablement and implementation of AI capabilities within the DoD, supporting its defense customers by providing the infrastructure, tools, and technical expertise for users to successfully build and deploy mission-enabling AI projects. Octo’s CEO Mehul Sanghani said, “The JAIC’s T&E team is critical to the success of the organization and the DoD at every level. Octo could not be more excited to be among those chosen to advance the JAIC’s mission of bringing safe, effective AI into the hands of the women and men who protect our country. We are pleased our approach of focusing on Warfighters’ success in the field under any condition has earned Octo a reputation as a firm that delivers results.” Rob Albritton, Senior Director of Octo’s AI Center of Excellence said, “Our work within oLabs, Octo’s R&D innovation center, and our work with the Army’s Integrated Visual Augmentation System (IVAS) program have demonstrated our AI proficiencies but have only scratched the surface of what we’re capable of. We’re eager to collaborate with the experts at the JAIC to develop technology that far exceeds the expectations of our Warfighters and makes them even more effective than they are today.” Octo has a long history of supporting defense programs with the latest technologies, top industry talent, and dedication to helping maintain our warriors’ unparalleled capability. We are excited to expand our relationship with the defense community and put to good use the proven tools we’ve developed to bolster mission accomplishment.” Sam Stollar, General Manager of Octo’s Defense and Intelligence Business Unit About Octo Octo is a technology firm dedicated to solving the Federal Government’s most complex challenges, enabling agencies to jump the technology curve. We don’t just modernize. We create lasting change through best practices that help agencies implement and integrate at-scale next-generation technology and innovation. With a mission and service first mentality, we provide Agile, DevSecOps, Artificial Intelligence, Cybersecurity, Blockchain, Cloud, Open Source, and Data Science solutions, collaborating to solve customers’ pressing problems. Headquartered in Reston, Virginia, Octo delivers proven technology vital to the intelligence community and health care, defense, national security, and civilian agencies that directly impact our nation.

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CYBERSECURITY

QuSecure Announces Company Launch With Industry’s First End-to-End Post-Quantum Cybersecurity Solution

QuSecure | May 24, 2022

QuSecure, Inc., an innovator in post-quantum cryptography (PQC), formally launched as the first company to offer an end-to-end, quantum resilient orchestration platform. QuSecure’s solution, QuProtect, is the industry’s first PQC software-based platform uniquely designed to protect encrypted communications and data using a quantum secure channel and standardized PQC algorithms. It addresses present classical attacks and future quantum computing threats for commercial enterprises and government agencies. QuSecure’s novel approach, as outlined in a separate QuSecure Product Launch press release issued today, had previously enabled the company to secure a triple-oversubscribed seed round from investor groups including Band of Angels, and has garnered significant interest for future funding activities from an A-list of investors. The company is led by CEO Dave Krauthamer, Silicon Valley CEO, CIO, CTO, CRO, CMO; COO Skip Sanzeri, long-time Silicon Valley Executive and author of “The Quantum Design Sprint” who has engineered five successful exits; CTO Greg Bullard, former VP of Engineering and head of Hardware Security at Qualcomm; Pete Ford, Head of Federal Operations, formerly a United States Air Force F-15 fighter pilot with five combat tours and former executive in Raytheon’s Missile and Defense Group; and Chief Product Officer Rebecca Krauthamer, who graduated with a degree in symbolic systems from Stanford, and is a Forbes 30 under 30 and 12 Women Pioneering the World of Quantum Computing honoree, quantum board member at the World Economic Forum, and formerly served as CEO of quantum computing venture studio Quantum Thought. QuSecure’s mission is to provide enterprises and government organizations with a comprehensive cryptographic orchestration platform that addresses today’s classical and future quantum threats. Our QuProtect solution secures networks from current vulnerabilities using zero trust, next-generation standardized encryption, active monitoring, and attack remediation – all cloud-delivered in software to existing devices, over existing infrastructure. We are creating an exceptionally secure future using a unique and comprehensive approach to cybersecurity that gives organizations a practical encryption solution for resilience to cyberattacks. Early customers tell us that a SaaS end-to-end PQC approach is optimal to address their critical needs for a practical post-quantum cybersecurity solution. QuProtect is the ‘easy button’ for this critical PQC upgrade.” Krauthamer,QuSecure CEO While quantum computing is an emerging field, leading experts such as Arthur Herman, senior fellow and director of the Quantum Alliance Initiative at The Hudson Institute, believe that a Cryptographically Relevant Quantum Computer (CRQC), which is a quantum computer that can break current cryptography and will expose the world’s encrypted communications and data, will be available within the next 3-5 years. Additionally, nation-state attackers are currently stealing encrypted data which will be retroactively decrypted once a CRQC is available. This is a style of hacking known as “Steal Now, Decrypt Later” (SNDL), which is especially important to consider in the case of sensitive data – bank account information, electronic health records, national security information, etc. – that needs to remain secret for decades. As a result, on May 4, the White House mandated PQC compliance via the National Security Memorandum “Promoting United States Leadership in Quantum Computing While Mitigating Risks to Vulnerable Cryptographic Systems.” Additionally, the bipartisan Endless Frontiers Act would establish a Technology and Innovation Directorate at the National Science Foundation, which would use $100 billion in federal funds over five years to research emerging technologies including quantum computing, and specifically PQC. Organizations will need to follow suit to protect their data and communications from post-quantum cyberthreats. “National Security, Public Safety and Privacy have all collided in the past several years,” said United States Navy (Retired) Rear Admiral Mike Brown, a senior cybersecurity specialist formerly with the Departments of Defense and Homeland Security. “Quantum security with quantum computing and encryption is foundational to public and private sector efforts to counter nation states, rogue actors, criminals and others. We must counter serious threats with advanced technologies that can be easily deployed and are successful. QuSecure is leading in this field, and I’m thrilled to be part of their advisory team.” QuSecure, with focus on adoption, easy upgrade, and modern cyber-protection practices, architected QuProtect as a more resilient PQC platform that works anytime, anywhere and on any device. The company provides an end-to-end quantum security as a service (QSaaS) architecture that addresses the digital ecosystem’s most vulnerable aspects, uniquely combining zero-trust, next-generation post-quantum-cryptography, quantum-strength keys, high availability, easy deployment, and active defense into a comprehensive and interoperable cybersecurity suite. The comprehensive approach is designed around the entire data lifecycle as data is stored, communicated, and used. In addition to its expert team of founders and employees, QuSecure has collected an all-star quantum and cryptography advisory team. Advisors (partial list) include Rene Haas, CEO of Arm Ltd., a Fortune 500 leader in designing, securing and managing all areas of AI-enhanced connected compute; United States Navy (Retired) Rear Admiral Mike Brown, a senior cybersecurity specialist formerly with the Departments of Defense and Homeland Security; Paul Touw, formerly Chief Strategist for the US Department of State and founder of Ariba Networks (now SAP Ariba); Dr. Sarah McCarthy, Postdoctoral Researcher at the University of Waterloo and specialist in post-quantum cryptography; Laura Thomas, former CIA Chief of Base with more than 17 years in various national security and leadership roles and currently VP of Corporate Strategy at ColdQuanta, a quantum computing and sensing company; John Cosgriff, CEO at UnitedHealthOne, part of UnitedHealth Group, the world’s largest healthcare company; Louie Gasparini, former CTO & VP of Product Management at RSA; and Moshe Ben Simon, VP of Products at Fortinet. “The security community is facing a crucial time where cutting-edge research needs to be accelerated to the stage of product deployment,” added Dr. McCarthy. “With its diverse team of experts, determination and resources, QuSecure is well-equipped for this challenge.” About QuSecure QuSecure is an innovator in post-quantum cybersecurity with a mission to protect enterprise and government data from quantum and classical cybersecurity threats. Its patent-pending, quantum-safe solutions provide an easy transition path to quantum resiliency across any organization. The company’s QuProtect solution is the industry’s first PQC software-based platform uniquely designed to protect encrypted communications and data with quantum-resilience using a quantum secure channel. QuSecure has current customer deployments in banking/finance, healthcare, space/satellite, IT/data enterprises, datacenters and various Department of Defense agencies. QuSecure is investor backed and has offices in Silicon Valley. QuSecure and QuProtect are registered trademarks of QuSecure in the United States and other countries. All other company and product names are either trademarks or registered trademarks of their respective companies.

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GOVERNMENT BUSINESS

Parker Confirms UK Government’s Approval of the Meggitt Acquisition

Parker | July 20, 2022

Parker Hannifin Corporation (NYSE:PH) today welcomes the announcement from the UK’s Secretary of State for Business, Energy and Industrial Strategy that, following public consultation, he accepts the competition and national security undertakings provided by Parker in relation to the Meggitt acquisition and the transaction is therefore cleared to proceed by the UK Government. As previously announced on August 2, 2021, the boards of Meggitt and Parker reached agreement on the terms and conditions of a recommended all cash acquisition by Parker of the entire issued, and to be issued, ordinary share capital of Meggitt PLC (the “Acquisition”). Parker also confirms that it has signed legally binding economic commitments with the UK Government. These commitments include maintaining the following, for five years after the closing of the Acquisition (“Undertaking Period”): Meggitt’s headquarters and its aerospace and advanced materials center of excellence in Ansty Park, in Coventry, UK; Meggitt’s key areas of existing operational capability in the UK; R&D (including product engineering) and manufacturing labor headcount in the UK; Meggitt’s sustainability targets of reducing net carbon emissions by 50 per cent, by 2025; and achieving net zero greenhouse gas emissions by 2050; and Contractual obligations regarding supply of goods and services to HM Government. Finally, as innovation is a key driving factor of success for both Meggitt and Parker, Parker has agreed to increase Meggitt’s R&D expenditure in the UK by at least 40 per cent, by the end of the Undertaking Period, and its UK apprenticeship opportunities by 20 per cent. “We are pleased to have reached this important clearance milestone from the UK Secretary of State, We have also agreed to substantial legally binding commitments, which underscore our deep commitment to the UK. As we move closer to the completion of the acquisition and the combination of these two strong businesses, we look forward to welcoming the Meggitt team to Parker.” -Tom Williams, Chairman and Chief Executive Officer, Parker. The Acquisition remains subject to satisfaction or, where applicable, waiver of the conditions set out in the scheme circular published on August 16, 2021, including regulatory clearance and the sanction of the scheme of arrangement by the High Court of Justice in England and Wales pursuant to the UK Companies Act 2006. Parker continues to expect the Acquisition to close in Q3 2022. About Parker- Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 66 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index.

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