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Tag: plans

China hackers 'steal US plans for supersonic missiles'

China hackers 'steal US plans for supersonic missiles'

Technology
China's state hackers have reportedly stolen a large amount of highly-sensitive US navy data on its undersea warfare, including plans for supersonic anti-ship missiles on submarines. Government experts were said to have compromised the computers of a US navy contractor, giving them access to the information, according to the Washington Post, citing unnamed American officials.They said - on the condition of anonymity about an ongoing investigation - that the security breaches were believed to have taken place in January and February.Hackers reportedly targeted a contractor which works for the Naval Undersea Warfare Center - a research and support centre in Newport, Rhode Island.The officials did not identify the contractor.It was reported that a total of 614 gigabytes of dat...
Plans to privatise India’s flag-carrier have run into turbulence

Plans to privatise India’s flag-carrier have run into turbulence

Finance
AFTER a plane crash, air-safety investigators are dispatched to the wreckage site to find out what went wrong and ensure it never happens again. Their financial counterparts have a similar job to do with the Indian government’s proposed sale of Air India. Mooted for nearly a year, the first round of preliminary bids ended on May 31st having attracted not a single offer.Bureaucrats running the divestment process had expected many suitors. Domestic aviation is booming. Air India has a modern fleet, an enviable brand and valuable landing rights in many foreign airports. No fewer than 160 queries had come in from interested parties, said to include local and foreign airlines as well as Tata, a conglomerate. Might a bidding war ensue, some wondered?Not quite. Bidders were seemingly never ...
Fintech start-up Revolut grabs 2 million users and plans to launch commission-free trading service

Fintech start-up Revolut grabs 2 million users and plans to launch commission-free trading service

Finance
Financial technology firm Revolut now has 2 million users signed up to its platform and is planning to launch a commission-free trading service. The London-based start-up said Thursday that its trading platform, called "Wealth," would let users invest in a range of firms listed publicly in the U.K. and the U.S., in addition to other instruments including exchange-traded funds (ETFs) and options. ETFs are securities that let traders invest in a basket of assets such as shares or bonds. Options are contracts that give investors the right — but not the obligation — to buy or sell an asset at an agreed price and date,...
M&S closure plans trigger £300m charge

M&S closure plans trigger £300m charge

Business
Marks & Spencer is braced for a financial hit of up to £300m from an expanded store closure programme that reflects brutal trading conditions on the British high street. Sky News has learnt that the retailer will announce as part of its annual results on Wednesday a huge charge triggered by costs associated with its efforts to shrink underperforming parts of its store portfolio.A source close to M&S said the company was expected to include so-called adjusted‎ items worth approximately £500m in its 2017 results statement.Of that sum, between £200m and £300m is related to the company's plans to shut 100 UK shops by 2022 as well as a number of international outlets, a source said.Those costs include charges related to lease‎s, staff redundancy...
Plans for new laws to tackle internet's 'wild west'

Plans for new laws to tackle internet's 'wild west'

Technology
Culture Secretary Matt Hancock has pledged new laws to tackle the internet's "wild west" that will make Britain the "safest place in the world" to be online. A new code of practice to tackle bullying, intimidating or humiliating online content could be included in the legislation.Mr Hancock said: "Digital technology is overwhelmingly a force for good across the world and we must always champion innovation and change for the better."At the same time I have been clear that we have to address the wild west elements of the internet through legislation, in a way that supports innovation."We strongly support technology companies to start up and grow, and we want to work with them to keep our citizens safe." ...