India’s CG Semi starts chip production in Gujarat

India’s CG Semi starts chip production in Gujarat

TL;DR Modi has inaugurated commercial production at CG Semi’s $870m OSAT plant in Sanand, Gujarat, which will initially package 200 million chips a year and scale to 500 million. It is the third packaging plant to come online under the India Semiconductor Mission, after Micron and Kaynes Semicon. Prime Minister Narendra Modi has inaugurated commercial…

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US government body paid M in data-theft extortion

US government body paid $1M in data-theft extortion

TL;DR A US government entity paid about $1m to the Kairos extortion group to keep stolen files private, according to a Ransom-ISAC case study based on a leaked negotiation chat and blockchain analysis. The clues point to Union County, Ohio, though neither party has confirmed it. The case illustrates how much of today’s “ransomware” involves…

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Starling Bank cuts 130 jobs in AI and restructuring push

Starling Bank cuts 130 jobs in AI and restructuring push

TL;DR Starling Bank is cutting around 130 jobs as it restructures operations and pushes AI deeper into its business. The neobank’s profits fell for a second consecutive year, but its technology licensing arm Engine grew revenue 25%. Starling Bank is cutting around 130 jobs, roughly 3% of its 4,000-strong workforce, as the London-based neobank restructures…

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