$107 million has been invested into R3, a group developing blockchain-like technology for financial companies, by Intel, Bank of America Merrill Lynch, HSBC and dozens of other institutions. Meanwhile, a source close to the situation said that the R3 group was left by Goldman Sachs and Santander who walked away from the funding round. Working together to bring so-called…
With a Chinese consortium putting in the highest bid at S$1 billion ($718 million), a residential plot in Singapore may fetch a record price for a government land sale. According to a statement from the Urban Redevelopment Authority, the highest bid in the Stirling Road land auction was submitted by Logan Property (Singapore) Co. and Nanshan Group…
The past week could have been bad for Kris Hagerman, chief executive of UK-based cyber security firm Sophos Group Plc. Forcing some hospitals to turn away ambulances and cancel surgeries, the WannaCry “ransomware” attack hobbled some of its hospital customers in Britain’s National Health Service. A boast on its website that “The NHS is totally…
For the big ambitions of Saudi Arabia’s young deputy crown prince, who is trying to steer the kingdom’s fortunes away from oil, U.S. President Donald Trump’s visit to Saudi Arabia could be a boost. While affirming its decades long support as Saudi Arabia’s regional power struggle with Iran intensifies, the U.S. brings an arms deal worth…
With the sale of its own token, $25 million in under 15 minutes has been raised by Aragon, a project that creates software to manage companies, said Luis Cuende, the project’s co-founder. Cuende said that for a start-up operating in the blockchain or distributed ledger space, the proceeds were the second-largest amount received. Aragon Network…
For providing “misleading information” about its acquisition of messaging service WhatsApp, Facebook has been fined 110 million euros ($122 million) by European regulators. The fine was announced on Thursday by the European Commission, the European Union’s executive arm. “Today’s decision sends a clear signal to companies that they must comply with all aspects of EU…
Under a bill proposed by two lawmakers on Wednesday, the U.S. National Security Agency (NSA) could be required to make public any security flaws it finds in software that it exploits to spy on users. Issues related to whether a vulnerability discovered by the NSA should be disclosed to the companies concerned or the public,…
Analysts and experts have noticed that digital currency is being manufactured even as a computer virus that exploits the same vulnerability as the global “ransomware” attack has latched on to more than 200,000 computers. The development provides another piece of evidence that a North Korea-linked hacking group may be behind the attacks and adds to…
The airline industry’s global lobby group has said that travelers could be cost more than $1 billion by the widening of a U.S. ban on carrying electronic devices aboard aircraft to include flights from Europe. The International Air Transport Association estimates that extending the ban to the 28 European Union states plus Switzerland, Norway and…
Potentially derailing a much-needed capital injection for the Japanese conglomerate, Western Digital Corp has sought international arbitration to stop partner Toshiba Corp from selling its chips arm without its consent. Sources have said that having put in a much lower offer than other suitors, Western Digital is not a favored bidder for the world’s second…
