Tech Turmoil: Courts Hacked, Space IPO Soars & Tech Titans Tussle - Global Roundup (Aug 7-8, 2025)

by Marcin Frąckiewicz
in Business, Legal Issues, Technology News
on 8 August 2025

Sony raised its full-year profit forecast to ¥1.33 trillion (~$9 billion) and cut tariff impact to ¥70 billion from ¥100 billion.
Sony’s PlayStation division first-quarter PS5 sales rose to 2.5 million units, up 4%.
SMIC’s Q2 revenue rose 16% to $2.2 billion, with net profit down 19% to $132.5 million, as contingency plans and strong domestic demand kept capacity near full through October.
Trump demanded Intel CEO Lip-Bu Tan resign over alleged ties to Chinese firms, sending Intel shares down about 3%; Intel is backed by roughly $8 billion in CHIPS Act subsidies.
The Administrative Office of the U.S. Courts said federal courts faced “sophisticated and persistent” cyberattacks targeting CM/ECF, potentially exposing confidential records.
Optus faces a privacy lawsuit over the 2022 breach affecting 9.5 million customers, 40% of Australia’s population, with possible fines up to A$2.2 million per violation under updated laws.
Iress Ltd is in early takeover talks with Blackstone and Thoma Bravo after rejecting Blackstone’s A$1.94 billion bid; Infomedia agreed to a A$651 million takeover by TPG Capital Asia fund.
On August 7, the FCC approved sweeping rules to accelerate secure undersea cables, the first major overhaul since 2001, to streamline licensing and bolster national security reviews.
Hong Kong’s Standard Chartered plans a stablecoin issue with Animoca Brands and HKT, with licenses expected by early 2026; Binance is also partnering with BBVA for bank custody of crypto assets.
Firefly Aerospace priced its IPO at $45 per share, opened at $70, surged 55% on day one, valuing the company at about $9.8 billion and raising $868 million.

Consumer Electronics & Gaming: Sony Rides Tariff Relief

Sony surprised investors by raising its profit forecast 4% to ¥1.33 trillion (≈$9 billion) for the year, crediting a smaller-than-feared hit from U.S. trade tariffs reuters.com. The Japanese giant said tariff impacts were now estimated at ¥70 billion instead of ¥100 billion, as new trade deals eased pressure reuters.com. Sony’s PlayStation division also boosted the outlook—first-quarter PS5 console sales rose 4% to 2.5 million units amid strong demand for games and network services reuters.com. “Sony is further cementing its dominance in high fidelity gaming,” observed Serkan Toto of Kantan Games, adding “in my view, Sony is now competing with the PC more than the Xbox” reuters.com. The upbeat forecast and expert praise highlight Sony’s growing clout in entertainment even as it navigates geopolitical headwinds.

Semiconductors & Geopolitics: SMIC Resilient, Trump Targets Intel

China’s top chipmaker SMIC reported unexpected resilience despite escalating U.S. tariffs. The foundry said U.S. trade policy hasn’t caused the “hard landing” it once feared, thanks to contingency plans and surging domestic demand keeping its factories at full capacity until October reuters.com reuters.com. Co-CEO Zhao Haijun noted many clients stockpiled chips or found new suppliers, minimizing the tariff impact: “everyone has either stocked up enough inventory for this year and next year, or found other suppliers… So I think the impact will become even smaller” reuters.com. SMIC’s Q2 revenue rose 16% to $2.2 billion even as profit fell 19% (to $132.5 million) amid higher costs reuters.com.

In the U.S., political drama hit Intel. President Donald Trump publicly demanded the resignation of newly appointed Intel CEO Lip-Bu Tan, calling him “highly conflicted” over Tan’s extensive investments in Chinese semiconductor firms reuters.com. Trump’s rare intervention (delivered via Truth Social post) alleged Tan’s ties to China’s chip sector – including ~$200 million invested in companies linked to the Chinese military – undermine Intel’s turnaround plans reuters.com. “The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution,” Trump declared reuters.com. The remarks, which followed a U.S. senator’s inquiry into Tan’s past dealings, sent Intel shares down ~3% reuters.com. Analysts noted that a forced leadership change would come at a delicate time for Intel: the firm is pivotal to U.S. chip strategy and is backed by $8 billion in CHIPS Act subsidies to expand American fabs reuters.com. (Tan responded that he shares the administration’s national security goals and that Intel’s board supports its current strategy.) The episode underscores how geopolitical tensions around China are roiling the chip industry, from Beijing to Silicon Valley.

Cybersecurity & Data Privacy: U.S. Courts Breached, Optus Sued Over Mega-Hack

A major cyberattack on the U.S. federal courts system came to light, raising alarms about sensitive data exposure. The Administrative Office of U.S. Courts confirmed that judiciary IT systems have been targeted by “sophisticated and persistent” attacks in recent weeks reuters.com. This admission followed a Politico report that hackers compromised the federal courts’ electronic case filing system (CM/ECF), potentially exposing confidential case records across several states reuters.com. While the courts’ statement didn’t detail the breach, it said authorities are urgently bolstering security and working with courts to mitigate impacts on litigants reuters.com. Cyber experts note that the judiciary’s case management systems contain sensitive filings (from financial records to national security cases), making this breach of critical infrastructure especially concerning reuters.com. The incident underscores escalating cyber threats to government networks worldwide.

In Australia, a telecommunications giant is facing legal fallout from one of the country’s worst data breaches. The privacy regulator sued Optus, accusing the Singtel-owned mobile carrier of violating privacy laws in a 2022 hack that exposed 9.5 million customers’ data reuters.com reuters.com. The September 2022 breach – which disrupted service and leaked home addresses, passport numbers, and phone details for roughly 40% of Australia’s population – has already spurred calls for tougher privacy laws reuters.com. Now the Office of the Australian Information Commissioner alleges Optus committed a separate privacy law breach for each affected user, theoretically allowing fines up to A$2.2 million per violation reuters.com. With millions impacted, penalties could be astronomical (though the regulator hasn’t specified a total). Optus says it’s reviewing the claims. The case, the first major test of Australia’s updated Privacy Act, signals an aggressive regulatory stance after high-profile hacks. It also serves as a warning to telecom and tech firms about the cost of inadequate security: the Optus incident led Australia’s Prime Minister to demand faster breach disclosures and stiffer penalties for data negligence reuters.com.

Enterprise Tech & Deals: Private Equity Circles Software Firm

In enterprise software news, takeover talks are swirling down under. Australia’s financial software provider Iress Ltd. saw its shares jump 15% to a seven-month high on word the company is in early buyout discussions with U.S. private equity heavyweights Blackstone and Thoma Bravo reuters.com. Iress revealed it had previously fielded – and rejected – a A$1.94 billion ($1.27B) offer from Blackstone, and is now engaging with both PE suitors on a potential new proposal reuters.com reuters.com. The stock’s surge (though still below Blackstone’s prior offer price) suggests investors see a deal as likely. This comes amid a wave of global private equity interest in Australian tech companies. Earlier this week, Sydney-based Infomedia, which makes automotive software, agreed to a A$651 million takeover by TPG Capital’s Asia fund reuters.com. Analysts note that foreign buyout firms are hunting for bargains in Australia’s $283B tech outsourcing and software sector, looking to capitalize on steady cash flows and growth potential. Iress’s board cautioned that talks are preliminary and no new bid is assured reuters.com. Still, the flurry of activity highlights robust dealmaking in enterprise tech, as investors seek to snap up valuable software assets globally.

Telecom & Infrastructure: Boosting Undersea Cables Security

Telecom infrastructure got a strategic boost in the U.S., as regulators move to secure the backbone of the internet. In a unanimous vote on August 7, the Federal Communications Commission approved sweeping new rules to accelerate the deployment of secure submarine cables, the fiber-optic lines that carry ~99% of international data traffic broadbandbreakfast.com. It’s the first major overhaul of undersea cable regulations since 2001 broadbandbreakfast.com. The FCC’s plan will streamline the licensing process, cut red tape, and enhance national security reviews for undersea cable projects broadbandbreakfast.com. Officials warn that adversaries like China and Russia pose threats to critical undersea links broadbandbreakfast.com – from espionage to potential sabotage – prompting the need for modern safeguards. “They are the real unseen heroes of global communications,” FCC Chairman Brendan Carr said of the undersea networks, stressing the agency “must facilitate, not frustrate, the buildout” of new cables broadbandbreakfast.com. The rule changes aim to encourage investment in newer, more resilient cables to meet booming bandwidth demand and to route around geopolitical risks. With transoceanic internet traffic growing and tensions high, the U.S. is prioritizing infrastructure that keeps data flowing securely beneath the seas.

Fintech & Digital Finance: Stablecoins in Hong Kong, Binance’s New Custody Move

In fintech, mainstream banks are embracing crypto – under stricter oversight. London-based Standard Chartered announced a joint venture to enter the stablecoin market in Hong Kong, just days after the territory’s new stablecoin regulations took effect reuters.com. The bank’s Hong Kong unit is teaming up with partners – including Animoca Brands (a blockchain gaming firm) and HKT (Hong Kong’s leading telecom carrier) – to apply for a license to issue stablecoins pegged to fiat currency reuters.com. Hong Kong’s legislature approved a licensing regime for stablecoin issuers in May, providing regulatory clarity as the city positions itself as a crypto finance hub reuters.com. The Hong Kong Monetary Authority expects the first licenses to be granted by early 2026 reuters.com. Standard Chartered’s move, one of the first by a major global bank, signals growing institutional interest in digital currencies. It suggests confidence that tightly regulated stablecoins (cryptos tied 1:1 to assets like the US dollar) can go mainstream for payments and settlements – especially in jurisdictions like Hong Kong that are crafting pro-crypto rules.

Meanwhile, crypto exchange giant Binance is taking steps to reassure customers about asset safety amid regulatory crackdowns. According to an FT report (confirmed by Reuters), Binance is partnering with Spain’s BBVA bank to let customers hold crypto assets in bank custody rather than on Binance’s exchange reuters.com. BBVA will serve as an independent custodian for Binance – one of only a few banks to do so – allowing users to keep coins off the exchange’s balance sheet reuters.com. The initiative comes as Binance faces intense scrutiny worldwide and in the wake of rival FTX’s collapse, which was fueled by mishandled customer funds reuters.com. By offering third-party custody through a respected bank, Binance hopes to boost trust and compliance. (Notably, Binance and its CEO were hit with $4.3 billion in U.S. fines and even a brief prison sentence for the CEO, after admitting to anti-money-laundering violations reuters.com.) The BBVA tie-up reflects a broader trend: crypto exchanges are adopting more traditional finance safeguards to appease regulators and clients. As one analyst noted, “Exchanges integrating with banks for custody could become the new normal if it helps prevent another FTX” – ultimately blending crypto with the stability of established banking.

Hardware & Innovation: Space Startup’s Blazing IPO

It’s not just software – space hardware is having a moment on Wall Street. Texas-based Firefly Aerospace made a dazzling public market debut, as its stock soared 55% on the first day of trading, valuing the rocket developer at about $9.8 billion reuters.com. Firefly’s IPO priced at $45 a share (above the initial range) and opened at $70, reflecting red-hot demand for space and defense tech plays reuters.com. The company – which just five months ago became the first private enterprise to land on the Moon – raised $868 million in the largest U.S. space-tech listing of the year reuters.com. It’s a remarkable turnaround for a venture that faced near-failure a few years back reuters.com. “We at Firefly have had a lot of successes toward going public,” CEO Jason Kim told Reuters, citing the firm’s breakthrough moon landing, a rapid-launch Pentagon mission in 2023, and a new line of orbital vehicles for the U.S. Space Force as key milestones driving investor excitement reuters.com. Analysts are bullish on the sector’s prospects, noting that private companies are increasingly critical to national space programs and defense modernization reuters.com. Firefly’s blockbuster debut – outpacing earlier listings by peers Karman and Voyager – suggests capital is pouring into space hardware innovation. From reusable rockets to lunar landers, what was once futuristic is now a competitive market, and public investors want in on the action. Firefly’s success may pave the way for more space startups reaching for the stars (and the public markets) in the coming years.