technologyNews

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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