Security News

September 20, 2017

Waymo seeking $2.6 billion for one trade secret against Uber

This post was originally published on this siteSAN FRANCISCO (Reuters) – An Uber [UBER.UL] lawyer on Wednesday said Alphabet Inc’s Waymo unit is seeking about $2.6 billion for the alleged theft of one of several trade secrets in a lawsuit over self-driving cars. Uber Technologies Inc attorney Bill Carmody disclosed the figure in a hearing in federal court in San Francisco, where both companies are discussing whether a trial in the case will begin next month. Waymo has asserted claims that Uber stole several of its trade secrets. Reporting by Alexandria Sage Our Standards:The Thomson Reuters Trust Principles.
September 20, 2017

Google close to buying smartphone maker HTC’s assets: Bloomberg

This post was originally published on this site(Reuters) – Alphabet Inc’s (GOOGL.O) Google is close to acquiring assets of Taiwanese smartphone maker HTC Corp (2498.TW), Bloomberg reported, citing a person familiar with the matter. The Taiwan stock exchange said on Wednesday that HTC shares will be halted from Sept. 21 on a pending news announcement. (bit.ly/2fjiJIL) (bloom.bg/2wxDCam) Bloomberg reported last month that the smartphone maker was said to be exploring options that could range from spinning off its virtual reality business to selling itself. Both HTC and Google declined to comment. Reporting by Munsif Vengattil; Editing by Anil D’Silva Our Standards:The Thomson […]
September 20, 2017

Amazon reviewing website after algorithm suggests bomb-making ingredients

This post was originally published on this siteLONDON (Reuters) – Amazon.com (AMZN.O) said on Wednesday it was reviewing its website after an investigation found that it could help users buy the ingredients to make a bomb using its “Frequently bought together” and “Customers who bought this also bought” features. Britain’s Channel 4 News found the online retailer’s algorithm was suggesting items that could be bought together to produce explosives on Monday, days after an apparently home-made bomb was detonated on the London Underground network. The ingredients, which are legal to purchase, were included in a “Frequently bought together” section in […]
September 20, 2017

Internet firms say removing extremist content within hours is huge challenge

This post was originally published on this siteBRUSSELS (Reuters) – Removing extremist content from the internet within a few hours of it appearing poses “an enormous technological and scientific challenge”, Google’s general counsel will say later on Wednesday to European leaders who want it taken down quicker. Kent Walker, general counsel for Alphabet Inc’s Google, will speak on behalf of technology companies Facebook, Microsoft, Twitter and YouTube at an event on the sidelines of the annual gathering of world leaders at the United Nations. The leaders of France, Britain and Italy want to push social media companies to remove “terrorist […]
September 20, 2017

Digital firms pay less than half tax of traditional rivals: EU Commission

This post was originally published on this siteBRUSSELS (Reuters) – Digital companies in the European Union pay in tax less than half the amount paid by traditional firms, the European Commission said in a draft report which backs plans to increase the tax bill of firms like Amazon or Facebook. In the report to be adopted on Thursday, the Commission says the best solution to address this distortion would be a global deal, but in the absence of sufficient progress it said the EU should move ahead alone. Short-term solutions include a tax on turnover, as proposed by France and […]
September 20, 2017

Toshiba says seals $18 billion deal to sell chip unit to Bain Capital group

This post was originally published on this siteTOKYO (Reuters) – Japan’s Toshiba Corp said on Wednesday it has agreed to sell its prized semiconductor business to a group led by U.S. private equity firm Bain Capital LP, a key step in keeping the struggling Japanese conglomerate listed on the Tokyo exchange. Toshiba said in a nighttime announcement through the exchange it had signed a contract for the deal worth about 2 trillion yen ($18 billion), the latest and perhaps final twist in a deal that only hours earlier had seen the company leading toward an agreement with its U.S. joint […]
September 20, 2017

As Apple slows, fast-moving Chinese rivals gain in wealthy markets

This post was originally published on this siteHONG KONG/SINGAPORE (Reuters) – Slowing innovation at iPhone maker Apple gives Asian rivals their best chance yet to conquer developed markets, retailers and consumers say – thanks to better designs and lower prices. Apple last week unveiled new iPhones with wireless charging, an edge-to-edge screen and dual cameras – all features already widely available in phones from China’s Huawei and Oppo, and Samsung Electronics. While Apple must convince buyers to fork out nearly $1,000 for its high-end model, challengers are tilting at the luxury market, offering similar features for less money. Chinese vendors, […]
September 20, 2017

ABB to deliver 117 electric vehicle charging stations for German motorways

This post was originally published on this siteZURICH (Reuters) – ABB will deliver 117 electric vehicle charging stations to German utility EnBW, the Swiss engineering company said on Wednesday. Power utilities such as EnBW, tech start-ups and oil majors are vying to become dominant players in the fast-growing business of charging stations. These are now increasingly being installed on Europe’s motorways to accommodate a new generation of electric vehicles from makers such as Tesla, Porsche (VOWG_p.DE) and BMW with long range batteries. ABB, which has delivered more than 5,000 networked charging systems for passenger cars and commercial vehicles worldwide, said […]
September 20, 2017

Uber reviews Asia business amid U.S. bribery probe: source

This post was originally published on this site(Reuters) – Uber Technologies Inc [UBER.UL], which is the subject of a U.S. federal probe into whether it broke bribery laws, has started a review of its Asia operations and notified U.S. authorities about payments made by staff to police officers in Indonesia, a person familiar with the matter told Reuters. The review comes after Uber said in August it was cooperating with a preliminary investigation led by the U.S. Department of Justice (DOJ) into whether its managers violated U.S. laws against bribery of foreign officials, specifically the Foreign Corrupt Practices Act. Uber […]
September 20, 2017

Amazon working on ‘smart glasses’ as its first wearable device: FT

This post was originally published on this site(Reuters) – Amazon.com Inc is working on its first wearable device – a pair of ‘smart glasses’, the Financial Times reported on Wednesday. The device, designed like a regular pair of spectacles, will allow Amazon’s digital assistant Alexa to be summoned anytime at all places, the report said, citing people familiar with the plans. bit.ly/2jIMrIq There would be a bone-conduction audio system in the device to allow the wearer to hear Alexa without inserting headphones into his or her ears, according to the report. Amazon was not immediately available to comment on the […]
September 19, 2017

At U.N., Britain to push internet firms to remove extremist content quicker

This post was originally published on this siteUNITED NATIONS (Reuters) – The leaders of Britain, France and Italy will push social media companies on Wednesday to remove “terrorist content” from the internet within one to two hours of it appearing because they say that is the period when most material is spread. British Prime Minister Theresa May, French President Emmanuel Macron and Italian Prime Minister Paolo Gentiloni will raise the issue at an event on the sidelines of the annual gathering of world leaders at the United Nations. Twitter Inc, Facebook Inc, Microsoft Corp and Alphabet Inc’s Google are among […]
September 19, 2017

Uber reviews Asia business over bribery allegations in U.S.: Bloomberg

This post was originally published on this site(Reuters) – Uber Technologies Inc [UBER.UL], which is the subject of a federal probe into whether it broke bribery laws, has started a review of its Asia operations and notified U.S. officials about payments made by staff in Indonesia, Bloomberg reported, citing people with knowledge of the matter. A source familiar with the matter told Reuters that the Bloomberg report was accurate. Uber said in August it was cooperating with a preliminary investigation led by the U.S. Department of Justice into whether company managers violated U.S. laws against bribery of foreign officials, specifically […]
September 19, 2017

Amazon sends accidental gift email to shoppers due to glitch

This post was originally published on this site(Reuters) – A technical glitch caused Amazon.com Inc to email some of its customers erroneously that they had received a gift, a spokeswoman said in a statement on Tuesday. The email displayed an image of a crawling infant and told shoppers that they had received a present from their baby registry. A number of recipients, however, reported on social media that they were not expecting a child. The Amazon spokeswoman did not immediately say what caused the glitch or how many accounts had been affected. Reporting by Jeffrey Dastin in San Francisco; Editing […]
September 19, 2017

Exclusive: Toshiba flips back towards Western Digital group for chip unit sale – sources

This post was originally published on this siteTOKYO (Reuters) – Toshiba Corp (6502.T) is shifting back toward selling its prized semiconductor unit to a group backed by joint venture partner Western Digital Corp (WDC.O), people familiar with the deal said. Just days ago the Japanese firm said it was leaning toward a rival bid for the $18 billion business that includes a South Korean chipmaker. California-based Western Digital made key concessions to assure Toshiba it would not seek future control of the chip business, addressing antitrust concerns, said the sources, who asked not to be named as the discussions are […]
September 19, 2017

Massachusetts sues Equifax as hack concerns spread to Canada

This post was originally published on this site(Reuters) – Massachusetts Attorney General Maura Healey filed a lawsuit on Tuesday against credit reporting firm Equifax Inc (EFX.N) following a breach that exposed the personal data of up to 143 million people, including 3 million in the state. Equifax said on Tuesday that the massive breach of sensitive data might affect about 100,000 Canadians. “The information that may have been breached includes name, address, Social Insurance Number and, in limited cases, credit card numbers,” Equifax said in a statement. Equifax’s share price has fallen by about one-third since it disclosed the data […]
September 19, 2017

Tesla shares fall from record high after warning from analyst

This post was originally published on this siteSAN FRANCISCO (Reuters) – Shares of Tesla (TSLA.O) fell from record highs on Tuesday after an analyst warned that the electric car maker may take longer than expected to become profitable. Jefferies analyst Philippe Houchois launched coverage of Tesla with an “underperform” rating, helping send shares of the company headed by entrepreneur billionaire Elon Musk down 2.17 percent to $376.74 after closing at a record high the day before. “Achievements to-date and vision are impressive, but we don’t think Tesla’s vertically integrated business model can be scaled up as profitably and quickly as […]
September 19, 2017

Twitter says its controls are weeding out users advocating violence

This post was originally published on this siteBRUSSELS (Reuters) – Twitter Inc said that its internal controls were allowing it to weed out accounts being used for the “promotion of terrorism” earlier rather than responding to government requests to close them down. U.S. and European governments have been pressuring social media companies including Twitter, Facebook Inc and Alphabet Inc’s Google to fight harder against online radicalization, particularly by violent Islamist groups. Twitter said it had removed 299,649 accounts in the first half of this year for the “promotion of terrorism”, a 20 percent decline from the previous six months, although […]
September 19, 2017

Massachusetts sues Equifax for not protecting state residents

This post was originally published on this site(Reuters) – Massachusetts Attorney General Maura Healey filed a lawsuit on Tuesday against credit reporting firm Equifax Inc (EFX.N) following a breach that exposed the personal data of as many as 143 million people, including 3 million in the state. Equifax’s share price has fallen by about one-third since it disclosed the data breach, which included sensitive data like Social Security numbers, on Sept. 7. Equifax shares dipped 0.1 percent to $94.25 on Tuesday. “… Equifax knew about the vulnerabilities in its system for months, but utterly failed to keep the personal information […]
September 19, 2017

Equifax says 100,000 Canadians likely affected by data breach

This post was originally published on this siteTORONTO (Reuters) – Credit scoring company Equifax Inc said on Tuesday that the personal details of around 100,000 Canadians were exposed in the massive breach it disclosed earlier this month. The company said criminals got access to files containing personal information of some Canadian consumers – including names, addresses, social insurance numbers and in some cases credit card information – via a consumer website application intended for use by U.S. consumers. It was the first estimate of Canadian exposure the company has provided since saying on Sept. 7 that Canadian and UK residents […]
September 19, 2017

Alibaba-backed Best Inc cuts expected price range for U.S. IPO

This post was originally published on this site(Reuters) – Alibaba Group-backed (BABA.N) Chinese logistics firm Best Inc on Tuesday slashed the expected price range of its U.S. initial public offering, one day before its market debut, suggesting tepid investor enthusiasm. Best expects its offering of 45 million American depository shares (ADS) to be priced at $10 to $11 per ADS, it said in a filing with U.S. securities regulators. (bit.ly/2heEOFe) The company had initially expected a price range of $13 to $15 per ADS and an IPO consisting of 53.56 million new shares and 8.54 million existing shares. Best, founded […]
September 19, 2017

Alibaba-backed Best Inc cuts expected IPO price range

This post was originally published on this site(Reuters) – Alibaba Group-backed (BABA.N) logistics company Best Inc on Tuesday slashed the expected price range of its U.S. initial public offering, one day before its market debut, suggesting tepid investor enthusiasm. Best expects its offering of 45 million American depository shares (ADS) to be priced at $10 to $11 per ADS, it said in a filing with U.S. securities regulators. (bit.ly/2heEOFe) The company had initially expected a price range of $13 to $15 per ADS and an IPO consisting of 53.56 million new shares and 8.54 million existing shares. Reporting By Aparajita […]
September 19, 2017

Twitter reports progress on weeding out users advocating violence

This post was originally published on this siteBRUSSELS (Reuters) – Twitter Inc said that its internal controls were allowing it to weed out accounts being used for “promotion of terrorism” earlier rather than responding to government requests to close them down. U.S. and European governments have been pressuring social media companies including Twitter, Facebook Inc and Alphabet Inc’s Google to fight harder against online radicalization, particularly by violent Islamist groups. Twitter said it had removed 299,649 accounts in the first half of this year for the “promotion of terrorism”, a 20 percent decline from the previous six months. Three-quarters of […]
September 19, 2017

U.S. defense firms want control over tech in Make-in-India plan

This post was originally published on this siteNEW DELHI (Reuters) – U.S. defense firms offering to set up production lines in India to win deals worth billions of dollars want stronger assurances they won’t have to part with proprietary technology, according to a business lobby group’s letter to India’s defense minister. These companies are also saying they shouldn’t be held liable for defects in products manufactured in collaboration with local partners under Prime Minister Narendra Modi’s Make-in-India’s drive to build a military industrial base. Lockheed Martin (LMT.N) and Boeing (BA.N) are both bidding to supply combat jets to India’s military, […]
September 19, 2017

Salesforce to launch $50 million artificial intelligence fund

This post was originally published on this siteSAN FRANCISCO (Reuters) – The venture wing of Salesforce.com Inc is launching a $50 million fund to invest in start-ups employing artificial intelligence, the cloud computing firm told Reuters on Tuesday. Salesforce, whose software helps businesses sell, market and track customer activity, has been increasing its use of AI since launching its ‘Einstein’ technology a year ago, which uses automation and data-driven features. “There’s a tremendous surge in companies who are providing unique AI innovations,” said John Somorjai, executive vice president of Salesforce Ventures. “We want more of those companies to do these […]
September 19, 2017

Nokia’s French jobs cut plan suspended until October 2: French minister

This post was originally published on this sitePARIS (Reuters) – Nokia’s (NOKIA.HE) plan to cut almost 600 jobs in France is suspended until Oct. 2, French junior economy minister Benjamin Griveaux said on Tuesday after meeting the head of the Finnish telecom equipment maker’s French unit. Griveaux will meet with unions and company management on Oct. 2 to check whether Nokia is following on an earlier pledge to increase research and development (R&D) jobs in France. “At this stage, the jobs cut plan is suspended … at least until this meeting that I will chair on Oct. 2 at the […]