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Global insurers face quiet strain from hacker ransom demands

NEW YORK (Reuters) – Global insurers that cover cyberattacks are facing more claims related to ransom-demanding hackers who cripple businesses’ technology systems, and only stop after receiving substantial payments. These hackers use malicious programs known as ransomware to take down systems controlling everything from supply chains to payments to manufacturing. The hackers have grown more …

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Amazon’s gloomy holiday forecast misses estimates, shares fall 7%

(Reuters) – Amazon.com Inc on Thursday forecast revenue and profit for the holiday quarter below expectations, as it faces fierce competition and rising costs from its plan to speed up delivery times globally. Boxes ready to be loaded onto a delivery truck move along a conveyor belt at the Amazon fulfilment centre in Baltimore, Maryland, …

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WeWork’s new chairman defends payouts to founder, says company will survive

(Reuters) – WeWork’s new Executive Chairman Marcelo Claure on Wednesday defended huge payouts to the office-sharing company’s founder Adam Neumann and said there is now “zero risk of the company going bankrupt,” according to an audio recording of a meeting he held with employees that was reviewed by Reuters. FILE PHOTO: A WeWork logo is …

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Facebook probe by U.S. states expands to 47 attorneys general

WASHINGTON (Reuters) – A New York-led probe into allegations that Facebook Inc put consumer data at risk and pushed up advertising rates has expanded to include attorneys general from 47 U.S. states and territories, New York Attorney General Letitia James said in a statement on Tuesday. The investigation of Facebook announced in September had included …

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Minnesota chip maker gets up to $170 million from U.S. Defense Department

(Reuters) – Semiconductor maker SkyWater Technology said on Monday it will receive up to $170 million from the U.S. Department of Defense to make chips that can work in outer space, and create smaller, faster ones with new materials. The Bloomington, Minnesota-based company was spun off from Cypress Semiconductor Corp (CY.O) in 2017 to a …

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Facebook open to currency-pegged stablecoins for Libra project

WASHINGTON (Reuters) – Facebook Inc (FB.O), facing growing skepticism about its digital currency project Libra, on Sunday said the initiative could use cryptocurrencies based on national currencies such as the dollar, instead of the synthetic one it initially proposed. FILE PHOTO: A 3-D printed Facebook logo is seen on U.S. dollar banknotes in this illustration …

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China’s propaganda chief says Cold War mentality hindering mutual trust in cyberspace

WUZHEN, China (Reuters) – A “Cold War mentality” and “bully behavior” are hindering mutual trust in cyberspace, China’s propaganda chief said on Sunday at the start of the World Internet Conference in the eastern Chinese town of Wuzhen. People walks in front of a screen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, …

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Exclusive: Huawei in early talks with U.S. firms to license 5G platform – Huawei executive

WASHINGTON (Reuters) – Blacklisted Chinese telecoms equipment giant Huawei is in early-stage talks with some U.S. telecoms companies about licensing its 5G network technology to them, a Huawei executive told Reuters on Friday. FILE PHOTO: A Huawei company logo is pictured at the Shenzhen International Airport in Shenzhen, Guangdong province, China July 22, 2019. REUTERS/Aly …

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Indonesia issues rules to block illegally imported mobile phones

JAKARTA (Reuters) – Indonesia has issued regulations to allow authorities to block smartphones purchased on the black market, in a bid to encourage investors to produce mobile phones in the country, a minister said on Friday. FILE PHOTO: Airlangga Hartarto, Indonesia’s Industry Minister, speaks during an interview with Reuters at his office in Jakarta, Indonesia …

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Chipmaker TSMC boosts capex by up to $5 billion, sees fourth-quarter sales jump on smartphones

TAIPEI (Reuters) – Apple Inc supplier TSMC raised its 2019 capital spending plan by up to $5 billion on Thursday and forecast a nearly 10% rise in fourth-quarter revenue on strong demand for faster mobile chips and new high-end smartphones. The logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during an investors’ conference in …

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UK watchdog opens formal probe of Amazon Deliveroo deal

FILE PHOTO: A biker, wearing a Deliveroo food courier backpack, demonstrates during a call on clients to boycott the brand in Paris, France, August 7, 2019. REUTERS/Charles Platiau/File Photo (Reuters) – Britain’s competition regulator said on Wednesday it had launched a formal investigation into Amazon.com Inc’s investment in food delivery company Deliveroo, setting a Dec. …

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Google unveils mid-tier Pixelbook Go laptop, wireless earbuds

FILE PHOTO: The logo of Google is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo SAN FRANCISCO (Reuters) – Alphabet Inc’s (GOOGL.O) Google on Tuesday unveiled a new mid-tier laptop aimed at users on the go, the first of several big announcements …

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