Category Archives: News

Green Cabbage Launches Diligence Center, Bringing Speed, Precision, and Security to Buy-Side Contract Review in M&A

PITTSBURGH, Oct. 15, 2026 /PRNewswire/ — Green Cabbage today launched Diligence Center, a new capability in its Harvest platform built for Corporate Development, Private Equity, and Advisory teams to review thousands of contracts in minutes.

Green Cabbage CEO Eric Cunningham says: “We identified a gap in the market over a year ago. Teams spent up to six weeks analyzing fewer than 20 contracts, and they were missing significant risk-reduction opportunities. Over the past year, our team has taken this complex process and built an orchestration layer to dramatically improve these reviews. We’ve battle tested our solution with a few select clients already and are excited to bring it to the market.”

This orchestration layer puts 12+ agents to work in a concerted workflow, from information extraction to contract scoring. Each step in the process evaluates a different facet of each uploaded document, whether that document is an MSA, addendum, or order form, to ensure each output is explainable and transparent.

For each supplier, pricing is compared against Green Cabbage’s 2.6 billion data points in 88+ categories to return an analysis on where each deal sits relative to the market to show clients where savings opportunities exist. The models review each product being purchased, and against normalized features like quantity, geography, and industry, return comparable data to justify the conclusions. Non-standard deals are reviewed with a human-in-the-loop approach, drawing on Green Cabbage’s team of 150+ subject matter experts, to ensure every opportunity is captured.

Jeff Todd, VP at Sorenson Capital (a Green Cabbage investor), says: “The value of finding savings in the pre-close acquisition process is immense. These savings can be directly attributed to the bottom line, ensuring immediate ROI against the target’s valuation. This kind of direct impact is hard to find in M&A.”

Beyond pricing, Green Cabbage’s agents review each set of contracts for ten key M&A-focused terms. Each term is flagged for risk, and a next-step action is suggested with an explanation of the risk to direct deal teams on how to act on this information. Trained on attorney-annotated clause language with a practitioner judgement layer, the terms section instantaneously flags risk in lengthy contracts, identifies clause precedence, and distills the intelligence into something actionable. The judgement layer was built on the expertise of Green Cabbage’s senior attorneys who all worked at top suppliers, so their knowledge is instilled in each agent reading each document.

“Too often, organizations make acquisition decisions with limited visibility into supplier contracts and the value they contain. Diligence Center combines AI with deep procurement expertise to turn thousands of contracts into actionable intelligence quickly, helping organizations like mine uncover value, reduce risk, and accelerate integration from day one,” says George Jannino, Chief Procurement Officer at Raymond James.

Layered into every stage in the delivery process is the deep commitment to security that Green Cabbage is known for. With thorough encryption and clear data retention timelines, clients can be sure that Green Cabbage operates with complete confidentiality.

For in-house corporate development teams, Diligence Center gives the acquirer its own read of every agreement rather than only the largest suppliers, so the savings target holds and the integration team knows which contracts to work on the first day it closes. For PE firms who size a target’s cost take-out well before anyone reads a supplier contract, it shows where the target is paying more than comparable buyers, so the firm can put a real number on the opportunity before committing and pursue it the week it closes. For deal teams in consulting firms, where the deal sets the deadline rather than the amount of work, it delivers complete contract coverage inside that window, under the firm’s own brand, and hands integration teams a ranked list of what to renegotiate first.

Diligence Center works beyond confirmatory diligence. Deal teams can run it at screening to get a cost read before committing a team, in the first 100 days to hand operators a ranked sequence of actions, and during exit prep so a portfolio company goes to market without its own overpay still in it. For PE firms, the same read runs across an existing portfolio, showing where portfolio companies buy from the same suppliers at different rates and where take-out exists that nobody has looked for.

Diligence Center is available now to Corporate Development, Private Equity, and Advisory teams. It extends Harvest from the post-close work Green Cabbage already does for PE portfolios and enterprise procurement teams into the acquisition itself, handling all 1000+ contract documents within just minutes.

About Green Cabbage

Founded in 2019, Green Cabbage is a procurement intelligence platform that helps enterprises negotiate better deals, reduce supplier and contract risk, and uncover savings using billions of contract and spend data points. Its Harvest platform serves procurement, finance, IT, marketing and legal teams across enterprise, midmarket and private equity clients. Green Cabbage is backed by Sageview and Sorenson Capital. Never negotiate alone.

Media Contact: 

Sheena Smith, Chief Marketing Officer

sheena.smith@greencabbage.com

www.greencabbage.com 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/green-cabbage-launches-diligence-center-bringing-speed-precision-and-security-to-buy-side-contract-review-in-ma-302909398.html

Bybit Spot Now Supports Percentage of Volume (POV) Orders, Giving Traders Better Flexibility and Greater Control

DUBAI, UAE, Oct. 15, 2026 /PRNewswire/ — Bybit, the New Financial Platform trusted by more than 80 million users worldwide, announced the launch of Percentage of Volume (POV) orders on its Spot exchange, giving traders a more controlled way to execute large trades.

POV Order was first made available to Futures traders on Bybit in May 2026, and has since recorded 9x growth in user base with an average monthly trading volume per capita at over $300,000 in its initial 4 months.

POV automatically splits large buy or sell orders into smaller trades, adjusting their size in real time to market volume or order-book liquidity. This allows sizable positions to be built or exited gradually, with execution better paced to actual market activity, helping reduce slippage and limit the market impact that large orders can otherwise create. For traders and institutions managing significant volume on Spot, the result is more predictable execution, greater control over entry and exit prices, and reduced exposure to unfavorable fills.

Key Advantages of POV Orders

• VWAP-style execution: Trades are paced based on actual market activity instead of relying solely on fixed intervals, helping achieve prices close to the benchmark.
• Enhanced discretion: Order sizes adjust in line with market flow, making activity difficult for high-frequency traders to detect.
• Multiple execution modes: Users can choose between aggressive Taker execution or fee-efficient Maker placement based on urgency.
• Built-in slippage control: Execution slows down when liquidity is insufficient, helping avoid unfavorable fills.
• Flexible stop conditions: A maximum duration and/or total quantity can be set to control when the strategy ends.

The mechanism supports advanced traders and trading desks dealing with potentially market-moving trades. POV orders are driven by a participation rate, which defines the percentage of market volume or available order book depth that an order will execute against. The system continuously monitors market conditions and adjusts the size of each sub-order accordingly. When trading activity is low, execution slows down. When activity increases, execution speeds up to maintain the target participation rate.

Three Modes for Spot Trading

1. Traded Volume: Sizes sub-orders based on market trading volume.
2. Opposite-Side Liquidity: Executes Taker limit orders based on opposing order-book depth.
3. Same-Side Liquidity: Places Post-Only Maker orders at the best bid or ask.

The feature is now officially supported on Bybit Spot. To get started, traders can navigate to a supported Spot trading pair, select POV from the order-type menu, and configure the parameters.

Participation rate, order frequency, and stop conditions can be customized to match individual execution priorities. No additional strategy fees apply, and standard Spot trading fees remain applicable.

Terms and conditions apply. Users may read more about  POV Order before trading on Bybit Spot and POV Orders Now Live on Bybit Spot.

About Bybit

Bybit is The New Financial Platform.

We believe every person should have access to every financial opportunity on earth. That’s why we’re building the first intelligent platform that connects anyone, anywhere to the world’s finance.

Trusted by more than 80 million users worldwide, Bybit brings together investing, trading, payments, and wealth-building in a single secure and intelligent ecosystem. Through the combination of AI-powered technology, deep global liquidity, robust security, and transparent operations, Bybit makes global finance more accessible, efficient, and empowering for everyone.

Built for everyone. Powered by intelligence. Open to the world.

Learn more at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: media@bybit.com 

For updates, please follow: Bybit’s Communities and Social Media

Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/bybit-spot-now-supports-percentage-of-volume-pov-orders-giving-traders-better-flexibility-and-greater-control-302909975.html

Ladakh Gets INR 3,350-Crore Development Boost as PM Modi Inaugurates Five Major Projects

Leh, Oct 15: Prime Minister Narendra Modi on Thursday inaugurated five major development projects worth approximately ₹3,350 crore in Ladakh, highlighting the Centre’s focus on strengthening infrastructure, improving access to essential services and unlocking the region’s economic potential.

 Representational Image

Addressing the gathering through video conferencing, Modi described the occasion as a historic milestone for Ladakh, saying the projects would expand access to electricity and water, improve connectivity and create new opportunities for local communities.

“A new chapter is being written today in the history of Ladakh,” the Prime Minister said, congratulating the people of the region, engineers, the Border Roads Organisation (BRO) and others involved in completing the projects.

New Leh Airport Terminal to Boost Tourism

A major highlight of the inauguration was the new terminal building at Leh airport, constructed at a cost of ₹650 crore.

According to the Prime Minister, the terminal is expected to increase the airport’s annual passenger-handling capacity from around 10 lakh to 35 lakh, while flight operations are projected to expand significantly.

The facility incorporates geothermal technology, which Modi described as a first-of-its-kind feature for an airport in India. The upgraded infrastructure is expected to support the growth of tourism and improve the region’s air connectivity.

Given Ladakh’s growing appeal among domestic and international travellers, the expansion could provide a significant boost to tourism-related businesses and local employment.

Nimmu-Padum-Darcha Road Cuts Travel Time

The Prime Minister also dedicated the Nimmu-Padum-Darcha Road to the people of Ladakh. Built at a cost of approximately ₹2,500 crore, the strategic road has reduced travel time along the route from around 12 hours to three hours, according to Modi.

The improved connectivity is expected to facilitate travel, strengthen trade links and improve access to remote areas. The road also adds to the region’s strategic infrastructure, where difficult terrain and harsh weather conditions have historically posed major transportation challenges.

Modi praised the contribution of the BRO in advancing infrastructure development in the mountainous region.

Hydropower Project to Strengthen Electricity Supply

The inauguration also included the 9 MW Hanu Hydroelectric Project and associated transmission infrastructure aimed at improving local power stability.

Emphasising the importance of reliable electricity, Modi said dependable power supplies could improve education, healthcare, village-level businesses and other essential services.

For remote communities, more stable electricity infrastructure is particularly important, given the region’s challenging geography and climatic conditions.

Forty Water Bodies to Address Seasonal Shortages

Under Project Amrit Him Sarovar, the Prime Minister dedicated 40 water bodies spread across 40 villages.

The initiative is intended to help mitigate seasonal water shortages and support irrigation for local farmers. Improved water availability could benefit agricultural activities and strengthen livelihoods in communities that face difficult environmental conditions.

The projects collectively target some of Ladakh’s most pressing development needs: reliable power, water security, transport connectivity and tourism infrastructure.

PM Highlights Expansion of Ladakh’s Infrastructure

During his address, Modi outlined the Centre’s claims of significant improvements in the region’s infrastructure since 2019.

He said Ladakh’s road network had expanded from approximately 1,800 kilometres to 4,000 kilometres, while the number of major bridges had risen from 19 to 75. The number of helipads, he added, had increased from seven to 40.

The Prime Minister also said access to safe drinking water had grown from 3.5 per cent of the population before 2019 to more than 99 per cent.

He highlighted progress on the Zojila Tunnel, saying the project would help make Ladakh accessible throughout the year by reducing its dependence on seasonal road access.

Homestays, Greenhouses and Local Products in Focus

Modi also pointed to the expansion of tourism and livelihood opportunities, stating that the number of homestays in Ladakh had increased from around 150 to 3,000. The number of greenhouses, he said, had crossed 11,000.

The growth of homestays is expected to provide more local families with opportunities to benefit from tourism, while greenhouses can support agricultural production in the region’s cold climate.

Highlighting Ladakh’s cultural and economic identity, the Prime Minister spoke about traditional products such as Pashmina and the region’s apricots, noting that local apricots had received a Geographical Indication (GI) tag.

He also underlined the importance of Buddhist monasteries, historical artefacts and the preservation of the region’s cultural heritage. The inauguration of the country’s first petroglyph conservation park in Leh was cited as another step towards protecting Ladakh’s ancient heritage.

Focus on Education and Access to Justice

The Prime Minister said the Centre was working to expand access to quality technological education so that young people in Ladakh would not have to leave the region to pursue advanced studies.

He referred to plans for campuses associated with IIT Jammu and IIM Jammu in Ladakh as part of efforts to strengthen higher education opportunities.

Modi also highlighted the sanctioning of a Leh bench of the Jammu and Kashmir and Ladakh High Court in August, describing it as a step towards bringing access to justice closer to the people.

‘Ladakh’s Development Is Our Priority’

Reiterating the government’s commitment to the region, Modi said Ladakh’s development remained a priority and called for collective efforts to take the Union Territory towards greater prosperity.

The inauguration of the five projects marks a fresh push to strengthen Ladakh’s infrastructure and public services. Their long-term impact will depend on effective implementation, reliable maintenance and the extent to which improved connectivity and essential services translate into better livelihoods for local residents.

Caller Name Display Service to Roll Out Across India From November 1: What Mobile Users Should Know

New Delhi, Oct 15: Mobile phone users across India are set to receive a new layer of caller identification, with the Department of Telecommunications (DoT) directing telecom operators to implement the Calling Name Presentation (CNAP) service across their service areas from November 1, 2026.

 Representational Image 

The service will enable recipients to see the caller’s name alongside the phone number on incoming calls, potentially making it easier to identify unknown callers and helping users make more informed decisions about answering calls.

According to the DoT guidelines, telecom operators have already conducted trials of CNAP on wireless terrestrial networks using 4G and higher-generation technologies. The facility will be made available automatically to eligible subscribers, without requiring them to submit a separate request.

How Will the New Caller Identification System Work?

Under the existing system, incoming calls generally display the caller’s phone number, unless the number is saved in the recipient’s contact list or identified through another service.

With CNAP, the Calling Line Identification (CLI) information will include two fields: the caller’s telephone identifier and the caller’s name.

The name displayed will depend on whether the number is already saved on the recipient’s phone.

Saved contacts: The name stored in the recipient’s contact list will continue to appear.

Unsaved domestic numbers: The caller’s name recorded in the originating telecom operator’s subscriber database will be displayed.

International calls: Incoming international calls will be identified as “International Call”.

The new framework is intended to provide name-based identification through telecom networks rather than relying exclusively on contact lists or third-party applications.

Automatic Activation, With Further Expansion Planned

The DoT has directed operators to introduce CNAP across their service areas from November 1. Eligible users will not need to activate the service through a separate application or submit an individual request.

The initial implementation covers 4G and higher-generation wireless networks. The rollout for 2G and 3G networks, as well as public switched telephone networks, will be considered separately following further examination.

The phased approach reflects the need to assess the technical requirements for extending the facility across different types of telecom infrastructure.

Privacy and Network Security Safeguards

The government has incorporated privacy and security requirements into the CNAP framework.

The guidelines call for a “security-by-design” approach, requiring telecom operators to ensure that the query-response mechanism used to retrieve a caller’s name does not retain the calling name identity after the call has ended.

Operators must also ensure that their networks, databases and connectivity systems can handle CNAP requests efficiently without compromising service quality.

The framework has been introduced in line with Rule 48(1) of the Telecommunications (Authorisation for Provision of Principal Telecommunication Services) Rules, 2026, which requires authorised entities to ensure secure presentation of calling line identification and prevent tampering.

Businesses Can Display Registered Names

The guidelines also provide flexibility for businesses and bulk subscribers that wish to display a preferred name instead of the name recorded in standard subscriber records.

However, the preferred name must meet specified verification requirements. It must either be a registered trademark listed with the Trade Marks Registry or a registered trade name recorded on the Goods and Services Tax (GST) portal.

This provision is intended to help businesses maintain consistent identification when contacting customers while ensuring that displayed names meet recognised registration criteria.

What Does the Rollout Mean for Users?

The introduction of CNAP could make it easier for mobile users to identify callers whose numbers are not saved in their contacts. It may also provide an additional layer of transparency in incoming calls.

However, displaying a caller’s name should not be treated as a guarantee that a call is genuine or trustworthy. Users should continue to exercise caution when asked to share passwords, banking details, one-time passwords (OTPs) or other sensitive information.

With the November 1 rollout approaching, CNAP marks a significant change in how caller identity is presented through India’s telecom networks. Its effectiveness will depend on implementation across operators, accurate subscriber records and the continued protection of user privacy.

Union Minister Jual Oram Takes Centre Stage as Nishadraj Guha at Delhi Ramlila

New Delhi, Oct 15: Union Tribal Affairs Minister Jual Oram stepped into the world of theatre on Wednesday, portraying Nishadraj Guha, a character from the Ramayana, at the renowned Luv Kush Ramlila organised at Delhi’s Red Fort Maidan.

Oram’s appearance added a political personality to the annual religious and cultural spectacle, which brings episodes from the Ramayana to life through dramatic performances.

A Role Rooted in Lord Ram’s Exile

Nishadraj Guha holds a special place in the Ramayana for his association with Lord Shri Ram during the latter’s period of exile. The character is remembered for welcoming Ram and extending his hospitality during the journey.

As part of the performance, Oram portrayed Guha’s meeting with Lord Ram, including welcoming him upon his arrival and bidding him farewell the following morning.

Speaking about his participation, the Union Minister described the experience as a memorable one.

“I am playing the role of Nishadraj Guha in the Luv Kush Ramlila. My role is to welcome Lord Shri Ram when he arrives during his exile and see him off the next morning. It is a great experience to be part of this programme,” Oram said.

Luv Kush Ramlila Brings the Epic to Life

Held at the historic Red Fort Maidan, the Luv Kush Ramlila is a prominent annual event in Delhi’s festive calendar. Through elaborate stage productions and performances, it presents important episodes from the Ramayana, drawing audiences to the epic’s enduring themes of devotion, duty, loyalty and righteousness.

Oram’s participation highlighted another dimension of the celebration, as the Union Minister took on a character remembered for his warmth and friendship towards Lord Ram during a crucial phase of the epic.

The performance formed part of the wider Ramlila festivities, which continue to connect generations with India’s rich cultural and mythological traditions.

A Fresh Start with ViaBTC: New Users Get 50% Off Mining Pool Fees for 30 Days

HONG KONG, Oct. 15, 2026 /PRNewswire/ — ViaBTC, a leading global cryptocurrency mining pool, has announced “A Fresh Start with ViaBTC,” a promotion for new users. Users who register between October 16, 2026, at 08:00 and November 15, 2026, at 08:00 (HKT) will receive a coupon offering 50% off mining pool fees for 30 days. The offer applies to mining BTC, LTC, ZEC, BCH, KAS, and DASH.

During the promotion, new users can mine with ViaBTC and access supporting services, including earnings settlement and asset management. ViaBTC has a decade of experience operating mining pools, with a global network of nodes supporting miners worldwide. The company completed SOC 2 Type I and Type II audits in 2025 and continues to improve its mining infrastructure and security practices.

ViaBTC brings mining and asset management together on a single platform. Once earnings are credited, users can view and manage multiple crypto assets within a single account, withdraw funds as needed, or use Auto Conversion to convert supported coin balances into BTC or USDT without first transferring assets to an exchange. For miners managing earnings across multiple coins, these services can reduce the need to move between platforms, making it easier to track balances and manage cash flow.

The campaign also includes dedicated support for large-scale miners and institutional clients. Through the “VIP Application” option on ViaBTC’s homepage, they can provide details of the coins they mine, their hashrate, and their contact information. ViaBTC’s business development team will then discuss tailored fee arrangements and mining support.

During the promotion, the coupon will be issued automatically upon successful registration. Users must activate it within 15 days of issuance to receive 50% off mining pool fees for 30 consecutive days from activation. The fee discount does not apply to coins earned through merged mining.

New users can register through the ViaBTC website to participate. Users with existing mining equipment can follow the instructions for their chosen coin in the official Mining Guide to configure their equipment and direct their hashrate to ViaBTC. Full campaign rules are available in the official announcement.

About ViaBTC

ViaBTC is a multi-cryptocurrency mining pool serving miners worldwide. Launched in 2016, it specializes in secure, stable, and efficient Proof-of-Work (PoW) mining services, supporting major PoW cryptocurrencies including BTC, LTC/DOGE, BCH, ZEC, and KAS. ViaBTC has served more than 2 million users across over 150 countries and regions. Its BTC, LTC/DOGE merged-mining, BCH, and ZEC pools rank among the world’s leading mining pools.

View original content:https://www.prnewswire.co.uk/news-releases/a-fresh-start-with-viabtc-new-users-get-50-off-mining-pool-fees-for-30-days-302909916.html

Elon Musk Envisions Mars as a Propellant Hub for Travel Across the Solar System

SpaceX CEO says Starship could enable missions to asteroids, Jupiter’s moons, Saturn and beyond with a propellant depot on Mars.

Oct 15: Elon Musk has outlined an ambitious vision for interplanetary transportation, suggesting that a propellant depot on Mars could transform SpaceX’s Starship into a reusable transport system capable of reaching destinations across the solar system.

Elon Musk says Starship’s fuel is mostly oxygen and easy to make on Mars, so a propellant depot there turns it into a generalized transport to anywhere in the solar system “Yes, and actually it’s mostly going to be an oxygen plant, but it’s because it’s 78% oxygen, 22% fuel. But the fuel is a simple fuel that is easy to create on Mars and many other parts of the solar system.” “So basically, and it’s all propulsive landing, no parachutes, nothing thrown away, it has a heat shield that’s capable of entering on Earth or Mars.” “We could even potentially go to Venus, but you don’t want to go there. Venus is hell, almost literally.” “But you could, it’s a generalized method of transport to anywhere in the solar system because the point at which you have a propellant depot on Mars, you can then travel to the asteroid belt and to the moons of Jupiter and then to Saturn and ultimately anywhere in the solar system.”

— Fireside Alpha (@firesidealpha) October 15, 2026

According to Musk, Starship’s propellant requirements are dominated by oxygen, which accounts for approximately 78% of the propellant by mass, while the remaining 22% is fuel. He said the fuel is relatively simple to produce and could be manufactured on Mars and potentially at other locations across the solar system.

Musk’s vision centres on establishing a propellant production facility on Mars, allowing Starship to refuel locally rather than relying entirely on supplies transported from Earth. Such infrastructure could potentially support increasingly ambitious missions to distant destinations.

He also highlighted Starship’s fully reusable design, which relies on propulsive landings rather than parachutes. Its heat shield is designed to withstand atmospheric re-entry on Earth and Mars, supporting the spacecraft’s intended role as a reusable interplanetary vehicle.

Musk said the system could potentially even reach Venus, although he described the planet’s extreme environment as an undesirable destination.

Looking further ahead, he suggested that a propellant depot on Mars could serve as a strategic staging point for missions to the asteroid belt, the moons of Jupiter, Saturn and other destinations throughout the solar system.

However, turning this vision into reality would require major advances in space-based fuel production, long-duration missions, orbital refuelling and infrastructure development. Establishing reliable propellant production on Mars remains a significant technological challenge.

If achieved, Musk’s concept could reshape the future of space exploration by making Mars more than a destination—it could become a refuelling hub for humanity’s expansion across the solar system.

Relief from insolvency pressures unlikely before H2 2027, says Atradius

AMSTERDAM, Oct. 15, 2026 /PRNewswire/ — Global insolvencies are projected to increase by 5% in 2026, as businesses continue to face high input costs, trade tensions, elevated energy prices and tighter financing conditions. Insolvencies are expected to decline by 4% in 2027, with signs of normalisation expected to become visible during the second half of the year, according to the Atradius Insolvency Outlook published today.

Atradius notes that insolvencies have proven more persistent than anticipated earlier this year, prompting an upward revision to its 2026 forecast and a more modest decline in 2027.

“The business environment remains challenging as high input costs and trade tensions persist,” said Theo Smid, Senior Economist at Atradius. “Insolvencies are still expected to rise in 2026, based on realised data and our expectations for the remainder of the year. While we expect conditions to begin easing in 2027, this marks the start of a process rather than a full return to normal.”

However, the expected decline in insolvencies is not being driven by a significant improvement in business conditions. Instead, it reflects a gradual adjustment by businesses to a more challenging economic environment.

The latest forecast assumes that the most vulnerable firms will exit the market by early 2027, while surviving businesses continue to adapt their cost structures, financing arrangements, and pricing strategies to a higher-cost environment. This adaptation, rather than a significant improvement in economic conditions, is expected to drive the decline in insolvencies.

Regional developments

On a regional level, Europe and Asia-Pacific are both forecast to see insolvencies decline by 5%, while North America is expected to record a more modest 3% decrease. Across individual markets, the path to normalisation will not be uniform:

• UK insolvencies are expected to remain near historically high levels as post-pandemic debt, high borrowing costs and weak consumer demand continue to weigh on businesses
• Romania is one of the few markets where insolvencies are expected to increase further, reflecting ongoing fiscal, political and inflationary pressures
• Australia and South Korea are expected to drive much of the improvement in Asia-Pacific, as insolvencies ease from historically elevated levels
• In the US, insolvencies are expected to decline as firms adapt to the new environment of elevated inflation and interest rates, while economic growth remains relatively resilient

Read the full report: https://group.atradius.com/knowledge-and-research/reports/economic-research-insolvency-outlook-oct-2026

Press contact: Pavel Gómez del Castillo | pavel.gomezdelcastillo@atradius.com

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/relief-from-insolvency-pressures-unlikely-before-h2-2027-says-atradius-302909811.html

HSBC India commits INR 200 crore to advance financial literacy

Four-year programme to strengthen financial capability, fraud prevention and livelihood resilience

MUMBAI, India and NEW DELHI, Oct. 15, 2026 /PRNewswire/ — HSBC India today announced a INR 200 crore, four-year flagship philanthropy programme to strengthen financial literacy across India. The initiative will help communities move from access to active and informed participation in the formal financial system. The programme will build the knowledge, confidence and practical skills people need to use formal and digital financial services safely, make informed decisions, protect themselves from fraud and strengthen their livelihoods and financial resilience.

The programme was inaugurated by Pam Kaur, Group Chief Financial Officer, HSBC Holding plc together with Jo Miyake, Head-Banking, Asia and the Middle East, HSBC; Julian Wentzel, Group Chief Sustainability Officer, HSBC; Hitendra Dave, CEO, HSBC India; and Aloka Majumdar, MD, Head of Sustainability, HSBC India.

The programmme, from 2026 to 2030, will be delivered nationwide through non-profit, academic and research partners. It will focus particularly on women, youth, migrant workers, persons with disabilities, low-income households and first-time users of formal financial services. An Advisory Group of eminent professionals and sector experts will provide independent guidance, helping translate the programme’s ambition into practical, scalable and measurable outcomes.

India has made significant progress in expanding financial access. There are ~60 crore Pradhan Mantri Jan-Dhan Yojana accounts that have been opened, including ~33 crore held by women**. The Reserve Bank of India’s Financial Inclusion Index rose to 70 in March 2026 from 67 in March 2025*, reflecting gains across access, usage and quality. Yet, access alone is not enough, and the next phase must enable people to use financial services regularly, safely and confidently, supported by enhanced digital capability and consumer protection. HSBC India’s programme responds to this need by recognising financial capability as a foundational life skill that can strengthen outcomes across education, health, livelihoods and social security.

* Press Releases | Official Website of Reserve Bank of India

** Press Release: Press Information Bureau

The programme will be anchored on three pillars:

1. Digital pathways to financial well-being – Enhancing adoption of technology and artificial intelligence to strengthen financial well-being of the underbanked communities. It will focus on building confidence in digital financial tools and promote their safe and responsible use.
2. Financial capabilities and fraud prevention – Helping communities access and use formal financial products, make informed decisions, and identify and prevent fraud. It will address the specific risks faced by people newly entering the formal financial system or with limited digital confidence.
3. Enhancing income pathways for communities – Promoting enterprise development and improve access to social protection schemes. It will help individuals and households strengthen their livelihoods, manage financial shocks and pursue more sustainable income opportunities.

Hitendra Dave, CEO, HSBC India, said, “India has built the foundations of financial inclusion at scale, but true financial well-being begins with the knowledge, confidence and practical skills to use financial services safely. The country’s digital public infrastructure has enabled citizens to access formal financial systems. As digital payments expand, and new technologies transform financial services, financial literacy and protection against fraud become essential to sustaining trust. Partnerships between industry, community, organisations, and academic institutions can help extend these capabilities to underserved communities and advance the vision of Viksit Bharat.”

Aloka Majumdar, MD, Head of Sustainability, HSBC India, added “First-time users of digital financial services can also be particularly vulnerable to phishing, identity theft and other forms of fraud which can cause financial loss and weaken trust in formal services. Our programme goes going beyond awareness-building to develop practical capability and safer financial behaviours, supporting the shift from financial access to lasting financial well-being.”

Notes to Editor:

HSBC India and Sustainability

HSBC India’s strategy to support sustainable economic growth, focuses on Community Investment (CSR interventions), Sustainable Operations, Sustainable Finance and Sustainability Risk.

The strategy is delivered through a combination of programmes, collaboration, and partnerships. We believe it requires a concerted effort between business, governments and other stakeholders on policies and programmes to support transition to a more sustainable future.

HSBC India

HSBC India offers a full range of banking and financial services through 34 branches across 22 cities. The Bank is at the forefront in arranging deals for Indian companies investing overseas and foreign investments into the country. HSBC is one of India’s leading financial services groups, with over 47,000 employees in its banking, investment banking and capital markets, asset management, insurance, software development and global resourcing operations in the country. It is a leading custodian in India. 

HSBC Holdings plc

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 56 countries and territories. With assets of US$3,438bn at 30 June 2026, HSBC is one of the world’s largest banking and financial services organisations.

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/hsbc-india-commits-inr-200-crore-to-advance-financial-literacy-302909762.html

AXISCADES’ XIDA to acquire Silicon Valley-based ITSJ business — a ready-made US base inside the AI hardware supply chain

Board approves the acquisition of ITSJ Group’s business by XIDA Inc.: qualified supplier positions with leading semiconductor-equipment makers and a hyperscaler, and a San Jose engineering and manufacturing base

• Inside the AI build-out from day one: ITSJ supplies sub-systems to two of the world’s top-five semiconductor-equipment manufacturers and to a leading hyperscale data-centre operator, with live purchase orders in hand.
• A ready-made Silicon Valley platform: design-to-build capability in San Jose — precision machining, PCB design and assembly, cable and box build, and full system integration, from prototype to production.
• Disciplined, performance-linked terms: consideration of up to US$ 7.0 million (≈ ₹67 crore), of which only US$ 2.5 million is cash at completion. The balance is XIDA shares vesting over 30 months and an earn-out of up to US$ 2.0 million tied to customer, revenue and margin milestones. As an asset purchase, ITSJ’s legacy liabilities stay with the seller.

BENGALURU, India, Oct. 15, 2026 /PRNewswire/ — AXISCADES Technologies Limited (NSE: AXISCADES) (BSE: 532395) announced that its Board of Directors has approved on October 14, 2026, the acquisition of substantially all the business assets of ITSJ Group, Inc. (“ITSJ”), a San Jose-based precision engineering and electronics manufacturer, by XIDA Inc. (“XIDA”), the group’s US AI-infrastructure company and a step-down subsidiary of AXISCADES. The transaction gives XIDA an operating base in Silicon Valley and direct supplier positions in two of the fastest-growing parts of AI hardware: semiconductor equipment and data-centre infrastructure.

Two sides of the AI build-out, one platform

Every advanced AI chip is made on equipment from a handful of toolmakers, and every AI rack has to be powered and cooled. ITSJ already sits in both supply chains. Founded in 2023, it has in under three years become a qualified supplier of sub-assemblies for semiconductor capital equipment and of data-centre cooling and infrastructure systems. Qualification with customers of this calibre usually takes years to earn; XIDA gains it from the start.

ITSJ has grown on the strength of its engineering and customer relationships. XIDA brings what is needed to scale it: capital, finance and quality systems, management depth, and the engineering bench of the AXISCADES group’s India-based design and manufacturing platform.

A US headquarters in Silicon Valley, and a tariff-resilient supply chain

On completion, XIDA plans to strengthen its global delivery capabilities, building on the engineering team that supports ITSJ today. This will create a diversified delivery model combining a US front end with Indian engineering capabilities, enhancing resilience to tariffs and evolving global trade dynamics. The acquisition advances XIDA’s focus on the physical layer of the AI build-out — data-centre cooling and semiconductor-equipment sub-systems — alongside the group’s heritage in electronics and embedded systems: from chip to cloud.

Dr. S. Ravi Narayanan, Chairman, AXISCADES Technologies, said: “AI runs on two things: the tools that make the chips, and the data centres that run them. ITSJ is XIDA’s gateway to both — supplier positions in Silicon Valley that take years to earn, ours from day one. We are delighted to welcome Chau and the ITSJ team as we build XIDA into a global AI-infrastructure company.”

About AXISCADES Technologies Limited

AXISCADES Technologies Limited (NSE: AXISCADES) (BSE: 532395) is an Indian technology group serving aerospace, defence, electronics and semiconductor customers worldwide. Its XIDA business focuses on AI infrastructure and deep technology — electronics design, semiconductor-equipment sub-systems, data-centre thermal systems and edge AI — from engineering centres in India and the United States.

www.axiscades.com

About ITSJ Group

ITSJ Group, Inc., founded in 2023 and headquartered in San Jose, California, is a precision engineering and electronics manufacturing company. It serves semiconductor-equipment and data-centre customers with CNC machining, PCB design and assembly, electrical cabinets, cable and harness assemblies, box build and system integration, from prototype to production.

Forward-looking statements

This release contains forward-looking statements, including about the proposed transaction, its timing and completion, customers, integration and expansion plans. They are based on current expectations and are subject to risks and uncertainties; actual results may differ materially. The transaction is subject to the execution of definitive agreements and the satisfaction of conditions precedent and approvals, and there is no assurance that it will be completed on the terms or timeline described, or at all. The company assumes no obligation to update these statements. This release is for information only and is not an offer or solicitation of securities in any jurisdiction.

View original content:https://www.prnewswire.com/in/news-releases/axiscades-xida-to-acquire-silicon-valley-based-itsj-business–a-ready-made-us-base-inside-the-ai-hardware-supply-chain-302909825.html