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Misleading ads: SC asks states UTs to set up grievance redressal mechanism
A bench of Justices Abhay S Oka and Ujjal Bhuyan said state...
Regulations should not create unintended barriers for financial inclusion: RBI Guv
``India has made substantial progress on financial inclusion with...
Retail sector top target for ransomware attack in 2020: Report
“The retail sector has always been an attractive target for cyberattacks, with its complex, distributed IT environments, including a multitude of connected point-of-sale devices, a relatively transient and non-technical workforce, and access to a wide range of personal and financial customer data,” said Chester Wisniewski, principal research scientist at Sophos, in a statement.
Sompo Global Risk Solutions to offer Epidemic and Pandemic protection
Triggered by civil authority restriction resulting from international public health emergencies declared by the World Health Organization, the new Sompo GRS Epidemic and Pandemic Protection Program provides insurance based on a number of available pre-set coverage options including loss of income, extra expense, debt servicing, supply chain disruption and other fixed costs.
In its first year, limited capacity for the program is available to Sompo GRS clients and their captives in the real estate, hospitality, financial services, professional services, technology and life sciences industries, as well as the unit’s Asian-interest accounts.
Ex-director seeks to stall $2 bln Paytm IPO, company calls it harassment
Irrespective of what the regulator decides, the dispute could become a legal headache ahead of the much-awaited IPO of Paytm, which counts China’s Alibaba and Japan’s SoftBank among its investors. Neither responded to a request for comment.
At the heart of the dispute is a one-page document signed between Saxena and Paytm’s billionaire CEO, Vijay Shekhar Sharma, in 2001. Seen by Reuters, it says Saxena was to get a 55% equity stake in Paytm’s parent, One97 Communications, with Sharma owning the rest.
Sex scandal in Alibaba sparks #MeToo moment in China
“An Alibaba executive raped his female employee, but the company has taken no action!” she screamed, handing out the leaflets to stunned colleagues until security guards forcibly removed her. “No one is taking responsibility!”
The allegations she printed on those pages, and in a lengthy post over the weekend that went viral on China’s tightly controlled internet, are now reverberating across the upper echelons of Alibaba and in C-suites across much of the country.
Accenture says ransomware attack had no impact, withholds comment on data
Accenture said in a statement Wednesday that it had “identified irregular activity in one of our environments” and ” immediately contained the matter and isolated the affected servers.” It did not specify when the incident occurred — or acknowledge that it was ransomware. But the description of its response was consistent with ransomware.
China’s Communist Party unveils new plan for law-based governance
The new focus on governance comes in the midst of the on-going crackdown on China’s major corporates, including Alibaba, Tencent and the car hailing app, Didi, which resulted in a big drop in the shares of many Chinese firms listed in the US and Hong Kong markets.
Adopt zero trust identity to validate devices in network: Niti Advisor
“We will have to adopt zero trust identity and access management policy to validate each device in the organisation network. Intra-organisations meetings have become very common and inter-organisation is also happening. We need to automate device enrolment and software updates, leverage artificial intelligence tools for threat detection,” Niti Aayog senior adviser for science and technology, Neeraj Sinha said while speaking at an PHD chamber of commerce event on cyber security.
Global banks unwind India currency trades worth billions after RBI warning
Some lenders had racked up exposures of more than $1 billion each by using a regulatory loophole created in February to convert rupee deposits into dollars using a buy-sell swap — buying the greenback now while selling the same amount at a specified date in the future. They then used the proceeds to purchase U.S. government debt and profited from the arbitrage, paying around 3.5% on the local currency deposits and earning 4.9% on the 12-month yield on the currency pair.
Alibaba blasted by state media despite firing manager accused of sex assault
State media and online commentators were overwhelmingly critical of Alibaba’s perceived delay in handling the incident.
“Alibaba could not offer an answer that satisfies public opinion for this ham-handed inaction,” said an editorial in the Global Times tabloid, published by the state-run People’s Daily.
Prince Andrew sued in NY court for alleged sex abuse
Virginia Giuffre claimed in suit filed Monday in Manhattan federal court that the British royal sexually abused her at Epstein’s home in New York, on his private island in the U.S. Virgin Islands and in the London home of Ghislaine Maxwell, the British socialite who is in jail awaiting trial on charges she helped Epstein traffic underage girls for sex.