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Last update: Sat, 01 Oct 2016 04am

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Yahoo hack hit 500mn users, likely 'state sponsored' SAN FRANCISCO: Yahoo said Thursday a massive attack on its network in 2014 allowed hackers to steal data from half a billion users and may have been "state sponsored."Yahoo, which confirmed details of the breach months after reports of a major hack, said its investigation concluded that "certain user account information was stolen" and that the attack came from "what it believes is a state-sponsored actor.""Based on the ongoing investigation, Yahoo believes that information associated with at least 500 million user accounts was stolen," said a statement by the US internet giant in what is likely the largest-ever breach for a single organization."Yahoo is working closely with law enforcement on this matter."The comments come after a report earlier this year quoted a security researcher saying some 200 million accounts may have been accessed and that hacked data was being offered for sale online.Yahoo said the stolen information may have included ...

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Vodafone injects $7.2bn into Indian arm as competition intensifies MUMBAI: Vodafone Group Plc has injected 477 billion rupees ($7.2 bln) into its Indian unit ahead of an auction of airwaves in the world's second-biggest mobile phone market, which has seen increased competition with the entry of a new player. The British group's subsidiary is India's second-biggest carrier by customers and revenue. The funds, injected in the first half of the fiscal year that began in April, will "enable Vodafone India to continue its investments ...

Business & Finance - Industries & Sectors

Rolls-Royce names Daily Mail's Stephen Daintith as new CFO LONDON: Britain's Rolls-Royce named Stephen Daintith as its new finance officer on Thursday as CEO Warren East completed a shake-up of his senior executive team tasked with turning around the aerospace and defence company. Daintith, who is currently CFO at Daily Mail and General Trust, will replace David Smith in 2017, Rolls-Royce said in a statement on Thursday.Daintith will join Rolls as East, who took the reins in July 2015, tries to streamline the company ...

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LATAM Airlines' controlling families to modify ownership structure SANTIAGO: The two families that control LATAM Airlines, Chile's Cueto family and Brazil's Amaro family, said on Thursday that they have agreed to modify their ownership structure in the regional carrier in order to keep control of the company before Qatar Airways buys a stake. The Amaro family has agreed to sell a 6.47 percent stake in the airline, which the Cueto family has said they will acquire, the families said in a statement with ...

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Kia Motors to assemble cars in Ethiopia, considers Algeria ADDIS ABABA: South Korea's Kia Motors Corp signed a deal with a local company on Thursday to start assembling cars in Ethiopia and is thinking of similar operations elsewhere in Africa. "It is important to penetrate the African market. We are also looking at the prospects of opening similar plants in Algeria and other countries," Soon Nam Lee, President of Kia's Middle East and Africa headquarters, told Reuters. Kia and Belayab Motors PLC, with whom ...

Business & Finance - Industries & Sectors

Boeing CEO hails WTO ruling on EU subsidies to Airbus NEW YORK: Boeing Co's Chief Executive Officer welcomed a ruling on Thursday that found the European Union had not complied with remedies set by the World Trade Organization for subsidies to rival planemaker Airbus. The ruling "finally holds the EU and Airbus to account for their flouting of global trade rules," Chief Executive Officer Dennis Muilenburg said in a statement. Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

France's Total says cutting costs, investment PARIS: French oil major Total said Thursday it would cut back costs and investment in 2017-2018 in the face of continued low oil and gas prices.Total said it would cut annual investment to between $15 and 17 billion from next year instead of previous plans for $17-19 billion, and that it now intends to shave $4 billion from operating costs instead of $3 billion.Copyright AFP (Agence France-Presse), 2016 ...