Connect with us

Published

on

MOSCOW Chinese President Xi Jinping touted close ties with Russia on the second day of his state visit to Moscow on Tuesday, inviting Russian President Vladimir Putin to make a return visit later this year.

It fits the historical logic that Chinese leaders take Russia as a primary choice for their overseas visits, Mr Xi said, adding that China and Russia are each others biggest neighbour and comprehensive strategic partner, the official Xinhua News Agency reported.

Russias invasion of Ukraine was a major topic for the leaders in more than four hours of talks Monday, according to both sides, with Mr Putin saying before the meeting that hes ready to discuss Chinas initiative for ending the war.

Mr Putin welcomed Mr Xi to the Kremlin on Tuesday afternoon for more discussions. Russian state television showed the two men walking the long red carpets of the Kremlin to shake hands before joining their delegations.

The United States and its allies have rejected Chinas proposals as biased toward Russia.

Mr Xi is expected to speak to Ukrainian President Volodymyr Zelensky for the first time since the February 2022 invasion after his Russia visit.

Mr Xis three-day visit, his first trip abroad since claiming a third term earlier this month, sends a strong signal of support for Mr Putin amid efforts by the US and its allies to isolate the Russian President over his invasion.

Russia has become increasingly dependent on China for trade with other markets cut off, but there were few indications that this visit would bring new deals.

Mr Putin and Mr Xi had an in-depth exchange of views on the Ukraine issue, Chinas Foreign Ministry said in a statement on Tuesday. It added that most countries support easing tensions, but the ministry did not go into further details.

China would continue to strengthen strategic coordination with Russia, Mr Xi also said, according to the statement.

Mr Xi met in the morning Tuesday with Russian Prime Minister Mikhail Mishustin, who called for deepening economic ties and received his own invitation to visit China.

Later Tuesday, the two sides are expected to sign several declarations, and Mr Xi and Mr Putin will make press statements before a state dinner in the Tsarist-era Palace of Facets. Russian President Vladimir Putin (right) meets China’s President Xi Jinping at the Kremlin in Moscow, on March 21, 2023. PHOTO: AFP US National Security Council spokesman John Kirby dismissed the visit as a marriage of convenience.

President Xi finds himself in this weird position wanting the war to end but not wanting Russia to lose, he said on MSNBC.

Chinas ceasefire paper has little detail and largely consists of broader foreign policy positions long espoused by Beijing. While its embrace of the principle of territorial integrity won praise in Kyiv, which seeks to drive Russian forces back across the border, a ceasefire call that would freeze forces in current positions is a non-starter. More On This Topic Putin tells Xi he will discuss Chinas blueprint for ending Ukraine conflict Dear friends Xi and Putin meet in Moscow as Ukraine war rages For Mr Putin, Mr Xi is by far the most significant international leader to visit since the invasion, which triggered Europes deadliest conflict since World War II and waves of sanctions by the US and its allies.

Mr Xis arrival comes just days after the International Criminal Court issued a warrant for Mr Putins arrest on charges of war crimes. Russia has dismissed the move, and China called for the court to avoid politicisation.

The Chinese leader last visited Russia in mid-2019, while Mr Putin went to Beijing in early 2022 to attend the opening of the Winter Olympics. At that meeting, the two leaders agreed to a no-limits friendship and signed a series of long-term energy supply deals.

The two met in September last year at a meeting of the Shanghai Cooperation Organisation, where Mr Putin said he understands Beijings questions and concerns about his invasion of Ukraine, a rare admission of tensions between the diplomatic allies.BLOOMBERG More On This Topic China's Xi to Putin: Russians will support you in 2024 election China's Xi Jinping out to play peacemaker on Russia visit

Continue Reading

Entertainment

TV presenter Jay Blades charged with two counts of rape 

Published

on

By

TV presenter Jay Blades charged with two counts of rape 

TV presenter Jay Blades has been charged with two counts of rape, police have confirmed.

West Mercia Police said the 55-year-old is due to appear in court next week.

The force said: “Jason Blades, 55, of Claverley in Shropshire, has been charged with two counts of rape.

“He is due to appear at Telford Magistrates’ Court on 13 August 2025.”

Blades found fame on the furniture restoration programme The Repair Shop after he started presenting in 2017.

A furniture restorer, he was the face of the popular BBC show that featured people having their treasured objects repaired and rejuvenated.

Read more:
BBC presenter denies coercive behaviour towards wife
Ex-Arsenal player charged with rape appears in court

Blades was also the presenter of the BBC’s Money For Nothing until 2020 and took part in Celebrity Masterchef, Celebrity Bake Off, and Comic Relief.

Continue Reading

Technology

Palo Alto CEO Nikesh Arora confronts Wall Street skeptics after company’s biggest bet yet

Published

on

By

Palo Alto CEO Nikesh Arora confronts Wall Street skeptics after company’s biggest bet yet

Nikesh Arora of the United States on the first hole during the third round of The Alfred Dunhill Links Championship at The Old Course on October 02, 2021 in St Andrews, Scotland.

David Cannon | David Cannon Collection | Getty Images

When Nikesh Arora was named CEO of Palo Alto Networks in June 2018, the cybersecurity company was valued at about $19 billion and was taking on large networking vendors like Cisco and Juniper, which were building security into their products.

Seven years later, Palo Alto’s market cap has expanded by sixfold, driven in part by an acquisition spree that’s seen Arora spearhead more than 20 deals in an effort to create a one-stop shop for all things cybersecurity.

Arora’s ambitions took a dramatic turn last week, when Palo Alto announced by far its biggest bet to date: the $25 billion purchase of Israeli identity security platform CyberArk.

Wall Street’s reaction so far has been downbeat, with multiple analysts downgrading the stock, and the shares dropping 16% since news of the deal first leaked out last Tuesday.

Not only does CyberArk represent Palo Alto’s heftiest deal in the 20 years since its founding, but it’s the second-biggest U.S. tech acquisition announced in 2025, after Alphabet’s $32 billion purchase of Wiz, another cloud security company from Israel.

Alphabet had become a more notable player in Palo Alto’s universe even before the calendar turned. In the company’s 2024 annual report published in October, Palo Alto named Alphabet as a competitor for the first time, listing it alongside Cisco and Microsoft as companies “that have acquired, or may acquire, security vendors and have the technical and financial resources to bring competitive solutions to the market.” In 2023, Cisco paid $28 billion for Splunk, which focuses on data protection.

The era of cybersecurity megadeals coincides with a surge in the number of sophisticated cybercrimes tied to rapid advancements in artificial intelligence.

With CyberArk, Palo Alto is making a big splash in the identity management market, taking on the likes of Okta as well as Microsoft and IBM’s HashiCorp. It also puts the company into further competition with CrowdStrike, the other pure-play security company that’s topped $100 billion in market cap.

Expect to see more tech M&A ahead, says Axios' Dan Primack

In an interview with CNBC soon after last week’s announcement, Arora said CyberArk fits squarely into his company’s focus on AI and, in this case, the complexities that come with granting permissions and access. Arora said that with M&A he looks for emerging trends, particularly when it involves technology that’s at a crossroads.

“Our entire acquisition strategy, our organic product growth strategy, our selling strategy, has always been based on that approach,” said Arora, 57, who’s seen his personal wealth top $1 billion with the big run-up in the stock.

In CyberArk’s earnings report last week, the company said revenue jumped 46% in the latest quarter to $328 million, equal to about 14% of Palo Alto revenue, based on the most recent report. Arora said in the conference call announcing the deal that he intends to work with CyberArk CEO Matt Cohen and Chairman Udi Mokady to “accelerate the pace of innovation.”

“We look for great products, a team that can execute in the product, and we let them run it,” Arora told CNBC. “This is going to be a different challenge, but we’ve done well 24 times, so I’m pretty confident that our team can handle this.”

Most of Arora’s acquisitions over the years have been of smaller startups. That includes a $400 million deal to buy Dig Security and the $625 million purchase of Talon Cyber Security in 2023. Last month, the company closed its takeover of Seattle-based startup Protect AI for an undisclosed amount.

Appetite for risk

Before joining Palo Alto, Arora spent a decade at Google, including his last three years there as chief business officer. Some analysts called him the “acting CEO,” due to his lengthy roster of responsibilities, such as strategic partnerships and navigating the needs of advertisers.

In 2014, Arora left Google to join SoftBank as head of its internet and media operations business and vice chairman of the overall company. At SoftBank, Arora had been tapped as the likely successor to visionary founder and CEO Masayoshi Son. But less than two years after taking the job, Arora resigned. As he explained it, Son told him he was going to keep running the show for another five to 10 years.

Roughly 10 months before leaving SoftBank, Arora said he was buying more than $480 million worth of stock in the Japanese conglomerate, which he said involved taking an “enormous risk” reflecting his confidence “about the future” of the company.

While that’s all firmly in the past, Arora said that over the years, he’s “scavenged” different leadership qualities from each of his mentors, including an appetite for risk from Son.

“It’s about finding role models for certain behaviors and wanting to understand what makes them really successful,” he said. “That’s my model.”

Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., speaks during the company’s annual general meeting in Tokyo, Japan, on Friday, June 27, 2025.

Bloomberg | Bloomberg | Getty Images

Investors weren’t completely sold on Arora when he joined Palo Alto in 2018, said Joseph Gallo, an analyst at Jefferies. He was a skilled and experienced businessman but some worried that he hadn’t created a notable product or founded a company like many of his industry peers, said Gallo, who recommends buying Palo Alto shares.

Arora made up for it with an ability to spot trends ahead of the curve, Gallo said. That included investing aggressively in a transition from on-premises technology to the cloud and then recognizing early the power of AI.

In his first few years at the company, Arora made numerous acquisitions for a total of about $3 billion, helping Palo Alto penetrate the cloud security space as more businesses were moving their workloads to Amazon Web Services, Microsoft Azure and Google’s cloud.

“Every company wishes they were in Palo Alto shoes, where they could actually offer all these different products,” said Andrew Nowinski, an analyst at Wells Fargo who has a buy recommendation on the stock. “It’s very difficult. You’re not going to see many vendors like Palo Alto.”

With its expansion into identity management, Palo Alto is going big in a space that’s viewed by experts as a key spending area for IT in the coming years.

“You can’t slow down your spending because the hackers aren’t slowing down,” Nowinski said. “That’s your growth driver.”

Ofer Schreiber, senior partner and head of YL Ventures’ Israel office, said Palo Alto has helped take an extremely fragmented market, consisting of lots of point solutions, and created a centralized vendor for clients.

According to a joint report from IBM and Palo Alto published in January, the average organization uses 83 different security products from 29 separate companies.

“From the customer’s perspective, it’s much more convenient dealing with with one vendor with multiple products tightly integrated,” Schreiber said. “You can’t really be just a one-product company.”

Still, Arora is in untested waters with CyberArk.

Palo Alto’s shares dropped on all five days following the announcement of the deal. It’s the first time at Palo Alto that Arora has led a multibillion-dollar purchase, and he now faces the execution challenges of integrating thousands of new employees.

Analysts at KeyBanc lowered their rating to the equivalent of hold from buy, due partly to concerns about a lack of “meaningful synergies” in the product offerings and a view that customers would prefer an “independent vendor solely focused on identity.”

But TD Cowen’s Shaul Eyal still recommends buying the shares. He said that what’s made Arora successful is his “relentless focus on execution” and his strategy of betting on sizeable markets where Palo Alto can quickly scale and become the leader or runner-up.

That, and his ability to bundle.

“It’s all about upsell,” Eyal said. “Every other second, third, fourth module you’re selling to an existing customer flows straight to the bottom line.”

Don’t miss these insights from CNBC PRO

Palo Alto Networks CEO on acquisition: CyberArk is poised to 'disrupt' the market

Continue Reading

World

‘Toxic workplace culture’ one of contributing factors that led to Titan submersible implosion

Published

on

By

'Toxic workplace culture' one of contributing factors that led to Titan submersible implosion

A “toxic workplace culture” was one of several contributing factors that led to the implosion of the Titan submersible on its way to the Titanic, a report has said.

The US Coast Guard Marine Board of Investigation (MBI) said in its report into Oceangate – the private company that owned the submersible – that “the loss of five lives was preventable”.

Titan operator Stockton Rush, who founded OceanGate; two members of a prominent Pakistani family, Shahzada Dawood and his son Suleman; British adventurer Hamish Harding; and Titanic expert and the sub’s pilot, Paul-Henri Nargeolet, died on board.

On Tuesday, a 335-page report into the disaster went on to make 17 safety recommendations, which MBI chairman Jason Neubauer said will help prevent future tragedies.

“There is a need for stronger oversight and clear options for operators who are exploring new concepts outside of the existing regulatory framework,” he said in a statement.

All five passengers on the Titan sub perished in the incident.
Image:
The Titan submersible on the ocean floor

The investigation’s report found that the submersible’s design, certification, maintenance and inspection process were all inadequate.

It also highlighted the fact that the company failed to look into known past problems with the hull, and that issues with the expedition were not monitored in real time and acted upon.

‘Intimidation tactics’

The report states that contributing factors to the disaster included OceanGate’s safety culture and operational practices being critically flawed, and an “ineffective whistleblower process” as part of the Seaman’s Protection Act – a US federal law designed to protect the rights of seamen.

The report adds that the firing of senior staff members and the looming threat of being fired were used to dissuade employees and contractors from expressing safety concerns.

Please use Chrome browser for a more accessible video player

Titan submersible: ‘What was that bang?’

It alleges: “For several years preceding the incident, OceanGate leveraged intimidation tactics, allowances for scientific operations, and the company’s favourable reputation to evade regulatory scrutiny.

“By strategically creating and exploiting regulatory confusion and oversight challenges, OceanGate was ultimately able to operate Titan completely outside of the established deep-sea protocols, which had historically contributed to a strong safety record for commercial submersibles.”

Numerous OceanGate employees have come forward in the two years since the implosion to support those claims.

OceanGate suspended operations in July 2023 and has not commented on the MBI’s report.

Titan submersible hearing

Read more
What happened to the Titan?
Hopes incident won’t be end of deep sea exploration
Why billionaires are drawn to extreme tourism

The Titan sub went missing on its voyage to the wreck of the Titanic.

After five frantic days of searching, the wreckage was eventually found on the ocean floor roughly 500m from the sunken Titanic.

The MBI investigation was launched shortly after the disaster.

During two weeks of testimony in September 2024, the former OceanGate scientific director said the Titan malfunctioned during a dive just a few days before it imploded.

OceanGate’s former operations boss also told the panel the sub was a huge risk and the company was only focused on profit.

The board said one challenge of the investigation was that “significant amounts” of video footage evidence that had been captured by witnesses was not subject to its subpoena authority because the witnesses weren’t American citizens.

Continue Reading

Trending