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Flight and voice data boxes extracted from crashed Brazilian plane
The airline VoePass, which operates a small fleet of planes made by...
UK sets up AI Laboratory to tackle cyber threats
The new organization would in time seek to work with technology...
Tsunami-hit reactor in northeast Japan gets final approval to restart
Onagawa was the closest among Japan’s nuclear stations to the epicentre of the magnitude-9 quake in March 2011, which triggered a tsunami that killed nearly 20,000 people as well as causing the worst atomic disaster since Chernobyl in 1986.
The station was swamped by the tsunami, but survived with its cooling system intact, saving its reactors from the threat of meltdowns similar to those that occurred at Tokyo Electric Power’s Fukushima Daiichi station to the south.
Signed, sealed, delivered: Japan to all but scrap centuries-old custom of stamping paperwork
The use of seals will be abolished for all but 83 instances such as automobile registration, the official said, affecting transactions carried out by millions of Japanese every day. The official said no specific timetable has been set for phasing out seal use.
The radical switch comes as newly installed Prime Minister Yoshihide Suga seeks to boost use of digital technology to streamline processes and spur lacklustre growth in the world’s third-biggest economy.
Willis Towers Watson acquires Acclimatise, to strengthen climate resilience leadership
John Firth, CEO and Co-Founder of Acclimatise, said, “Climate change risk is fast becoming a central part of government, corporate and financial decision making and planning. Meeting growing client demand will require increasingly sophisticated approaches to climate risk assessment and management.”
Insurtech Coherent secures $14mn investment from Cathay Innovation and Franklin Templeton
The new funding from Cathay Innovation and Franklin Templeton provides Coherent with the ability to invest and rapidly expand its operations and capability..Coherent will add technology and actuarial talent to its growing workforce at its current offices in Hong Kong, Singapore, Shanghai and Manila plus hire new teams in Japan, USA and Thailand. The increased reach will also extend its customer portfolio which currently covers large insurers in Hong Kong, Singapore, Indonesia, Mainland China, Japan, the Philippines, Thailand, Brazil and Myanmar.
Europe charges Amazon with using its dominance and data to squeeze rivals
The regulator looked into how the company collects data on competitors that sell on its platform, offering everything from electronics and toys to food and kitchenware. It says that Amazon uses that sensitive information, which shows what is proving popular or not, to better target its own products.
Crypto crime slows in 2020, but ‘DeFi’ hacks rise: CipherTrace report
Crypto crime hit $4.5 billion globally in 2019.
So far this year, losses from thefts and hacks, excluding misappropriation and fraud, grew to $468 million as of end-October, up 30% from $361 million for the whole of last year, the CipherTrace report said. About 20% of those hacks, or roughly $98 million, came from “decentralized finance” or DeFi, which are transactions on platforms that facilitate lending outside of banks.
After easing of WFH rules, India Inc continues to innovate ahead
The pandemic has been the biggest disruptor of this century and this move by the government can be a gamechanger for the IT and BPO industry, positioning India as a global outsourcing hub leading to job creation beyond the metros.
The changes will enable companies to attract talent from anywhere, reduce costs of operations while also accelerate development and use of new human resources, marketing, sales, business development and other practices to ensure high productivity.
GSTN infrastructure upgraded to handle up to 300,000 users concurrently
Besides, the Goods and Services Tax Network (GSTN) has introduced auto-populated sales return form GSTR-3B in PDF form which will be available from October 2020 tax periods onwards.
The complete PDF with auto-population of input tax credit will be available on the common portal (GSTN) from November 12, 2020, GSTN said in a statement.
GSTN said it has augmented the capacity of the gateway from 150,000 to 300,000 concurrent logged in taxpayers to handle the expected sharp surge in the indirect tax-related activities on the portal after easing of lockdown.
Investors bet vaccine sparks revival in beaten down stocks
As the market hype around the U.S. election ebbs, investors are now preparing for good vaccine news, which they believe is a matter of when, not if.
“It’s going to be absolutely massive,” said Stuart Oakley, head of cash currency trading at Nomura in London. “If we get a vaccine, we’re going to see all that pent up demand coming out.”
Of the roughly 45 vaccines undergoing human trials, those from Pfizer and Moderna are seen as possibly winning regulatory approval this year, with AstraZeneca not far behind.
Investors are looking beyond an expected “excitement rally” and at longer-term beneficiaries and short-selling opportunities.
Bigbasket faces potential data breach; details of 2 crore users put on sale on dark web
The only customer data that we maintain are email IDs, phone numbers, order details, and addresses so these are the details that could potentially have been accessed. We have a robust information security framework that employs best-in-class resources and technologies to manage our information. We will continue to proactively engage with best-in-class information security experts to strengthen this further,” Bigbasket said.