UPDATE 5-Up to 1,500 businesses affected by ransomware attack, U.S. firm's CEO says

Business

Yahoo Finance 05 July, 2021 - 12:23am 13 views

WASHINGTON, July 5 (Reuters) - Between 800 and 1,500 businesses around the world have been affected by a ransomware attack centered on U.S. information technology firm Kaseya, its chief executive said on Monday.

Fred Voccola, the Florida-based company's CEO, said in an interview that it was hard to estimate the precise impact of Friday's attack because those hit were mainly customers of Kaseya's customers.

Kaseya is a company which provides software tools to IT outsourcing shops: companies that typically handle back-office work for companies too small or modestly resourced to have their own tech departments.

One of those tools was subverted on Friday, allowing the hackers to paralyze hundreds of businesses on all five continents. Although most of those affected have been small concerns - like dentists' offices or accountants - the disruption has been felt more keenly in Sweden, where hundreds of supermarkets had to close because their cash registers were inoperative, or New Zealand, where schools and kindergartens were knocked offline.

The hackers who claimed responsibility for the breach have demanded $70 million to restore all the affected businesses' data, although they have indicated a willingness to temper their demands in private conversations with a cybersecurity expert and with Reuters.

"We are always ready to negotiate," a representative of the hackers told Reuters earlier Monday. The representative, who spoke via a chat interface on the hackers' website, didn't provide their name.

Voccola refused to say whether he was ready to take the hackers up on the offer.

"I can't comment 'yes,' 'no,' or 'maybe'," he said when asked whether his company would talk to or pay the hackers. "No comment on anything to do with negotiating with terrorists in any way."

The topic of ransom payments has become increasingly fraught as ransomware attacks become increasingly disruptive - and lucrative.

Voccola said he had spoken to officials at the White House, the Federal Bureau of Investigation, and the Department of Homeland Security about the breach but declined to say what they had told him about paying or negotiating.

On Sunday the White House said it was checking to see whether there was any "national risk" posed by ransomware outbreak but Voccola said that - so far - he was not aware of any nationally important organizations being hit.

"We're not looking at massive critical infrastructure," he said. "That's not our business. We're not running AT&T's network or Verizon's 911 system. Nothing like that."

Because Voccola's firm was in the process of fixing a vulnerability in the software that was exploited by the hackers when the ransomware attack was executed, some information security professionals have speculated that the hackers might've been monitoring his company's communications from the inside.

Voccola said neither he nor the investigators his company had brought in had seen any sign of that.

"We don't believe that they were in our network," he said. He added that the details of the breach would be made public "once its 'safe' and OK to do that."

Some experts believe the full fallout from the hack will come into focus on Tuesday, when Americans return from their July Fourth holiday weekend. Beyond the United States, the most notable disruption occurred in Sweden - where hundreds of Coop supermarkets had to shut their doors because their cash registers were inoperative - and in New Zealand, where 11 schools and several kindergartens were affected.

In their conversation with Reuters, the hackers' representative described the disruption in New Zealand as an "accident."

But they expressed no such regret about the disruption in Sweden.

The supermarkets' closure was "nothing more than a business," the representative said.

About a dozen different countries have had organizations affected by the breach in some way, according to research published https://www.welivesecurity.com/2021/07/03/kaseya-supply-chain-attack-what-we-know-so-far by cybersecurity firm ESET. (Reporting by Raphael Satter; Additional reporting by Praveen Menon in Wellington, New Zealand. Editing by Kim Coghill, Robert Birsel, William Maclean, Jonathan Oatis and Diane Craft)

It isn’t known whether Didi carried out its own review, according to the WSJ report. The Cyberspace Administration of China (CAC) launched the investigation into Didi on Friday, just two days after the company began trading on the New York Stock Exchange.

They'll share resources and expertise as part of a joint venture with Porsche called Bugatti Rimac.

Photo Illustration by Sarah Rogers/The Daily Beast / Photos via GettyRupert Murdoch, whom I served for seven years, has many business and journalistic achievements. He owes himself a better legacy than a news channel that no reasonable person would believe.It was my great honor to join Rupert, Barry Diller (who now is the chairman of IAC, The Daily Beast’s parent company), Jamie Kellner and many others in the early days of Fox Broadcasting Company, the network that’s the home to The Simpsons and

After Coors sought to steer unconscious minds to thoughts of beer, scientists have called for curbs on ‘targeted dream incubation’ Mmm … insipid lager. Photograph: wunkley/Alamy When brewing giant Coors launched a new advertising campaign earlier this year, the format came as a surprise to many. The company was planning to infiltrate people’s dreams to get them to buy, and presumably drink, Coors beer. Coors encouraged people to watch a short online video before bed, then play an eight-hour “sou

The suit is an all but certain loser in light of Brnovich v. DNC.

A breach at IT services company Kaseya has led to more than 1,000 businesses becoming infected with ransomware over the US July 4 holiday weekend.

OPEC+ abandoned its meeting Monday after a lone holdout continued to block a consensus on production quotas. Oil prices rose.

(Bloomberg) -- Brent oil was steady near $77 a barrel after OPEC+ ended days of talks without a deal to bring back more halted output next month, depriving the market of vital barrels as the global economic recovery gathers pace.Futures in London rose 1.3% on Monday after the alliance failed to reach an agreement, which will leave current production limits in place for August unless talks are revived in the coming days. A disagreement over how to measure output cuts upended a tentative proposal

(Bloomberg) -- OPEC+ abandoned its meeting without a deal, tipping the cartel into crisis and leaving the oil market facing tight supplies and rising prices.Several days of tense talks failed to resolve a bitter dispute between Saudi Arabia and the United Arab Emirates, delegates said, asking not to be named because the information wasn’t public. The group didn’t agree on a date for its next meeting, according to a statement from OPEC Secretary-General Mohammad Barkindo.The most immediate effect

Innoviz, a maker of lidar, the laser-based radar used in self-driving cars, believes it has the right strategy to win market share from competitors.

Min Wanli had a career path much coveted by those pursuing a career in computer science. A prodigy, Min was accepted to a top research university in China at the age of 14. Like many young, aspiring Chinese scientists working in the United States, Min returned to China when the country's internet boom was underway in the early 2010s.

(Bloomberg) -- A former managing director at one of Canada’s largest pension plans claims he is owed C$65 million ($53 million) after being fired.Tim Patterson filed a lawsuit in Toronto on Friday, saying he and a colleague were dismissed from the Ontario Municipal Employees Retirement System in retaliation for not accepting changes to their compensation package. Eight other professionals in the private equity division resigned after receiving their bonuses, Patterson said in court documents. Th

Amazon is posting huge growth across all of its businesses, but the company’s stock has been stuck in a rut for nearly a year.

The U.S. created 850,000 new jobs in June. Great. Yet 9 million people who likely would be working right now had there been no pandemic are still sitting at home.

(Bloomberg) -- Brent oil rose above $77 a barrel for the first time since 2018 after OPEC+ failed to reach an agreement on bringing back curtailed output, leaving the market with tighter supplies than expected.The group’s oil ministers were unable to reach a compromise during talks on Monday, keeping current production limits in place for August and depriving the market from the extra barrels it needs as demand recovers from the pandemic.“As things stand now, this is quite a bullish scenario for

Patience can pay off for you, as well, if you put your money to work in game-changing businesses and allow your investment thesis to play out over time. If growth stocks tickle your fancy, one of the best investments you can make right now for the second half of 2021, and well beyond, is cloud-based customer relationship management (CRM) software provider salesforce.com (NYSE: CRM). CRM software is used by consumer-facing businesses to optimize interactions and sales.

Though claiming that early means collecting less money each month, it could still work to your advantage to file at that age.

China's antitrust regulator is set to formally block Tencent Holdings Ltd's plan to merge the country's top two videogame streaming sites, Huya and DouYu, three people familiar with the matter told Reuters. Tencent has failed to come up with sufficient remedies to meet the State Administration of Market Regulation's (SAMR) requirements on giving up exclusive rights, said two of the people. The internet giant recently withdrew the merger application for antitrust review and refiled it after SAMR told the company it could not complete the review of the merger within 180 days since its first filing, one of them and a separate person said.

Vanguard offers target-date retirement funds to suit the needs of investors of various ages. A target-date fund is a mutual fund that automatically adjusts the asset mix and allocation over a time period that's based on your age and when you want to retire. Vanguard's target-date retirement funds typically invest in other Vanguard index funds and provide investors with instant diversification.

Read full article at Yahoo Finance

UPDATE 6-Up to 1,500 businesses affected by ransomware attack, U.S. firm's CEO says

Yahoo Finance 05 July, 2021 - 12:16am

WASHINGTON, July 5 (Reuters) - Between 800 and 1,500 businesses around the world have been affected by a ransomware attack centered on U.S. information technology firm Kaseya, its chief executive said on Monday.

Fred Voccola, the Florida-based company's CEO, said in an interview that it was hard to estimate the precise impact of Friday's attack because those hit were mainly customers of Kaseya's customers.

Kaseya is a company which provides software tools to IT outsourcing shops: companies that typically handle back-office work for companies too small or modestly resourced to have their own tech departments.

One of those tools was subverted on Friday, allowing the hackers to paralyze hundreds of businesses on all five continents. Although most of those affected have been small concerns - like dentists' offices or accountants - the disruption has been felt more keenly in Sweden, where hundreds of supermarkets had to close because their cash registers were inoperative, or New Zealand, where schools and kindergartens were knocked offline.

The hackers who claimed responsibility for the breach have demanded $70 million to restore all the affected businesses' data, although they have indicated a willingness to temper their demands in private conversations with a cybersecurity expert and with Reuters.

"We are always ready to negotiate," a representative of the hackers told Reuters earlier Monday. The representative, who spoke via a chat interface on the hackers' website, didn't provide their name.

Voccola refused to say whether he was ready to take the hackers up on the offer.

"I can't comment 'yes,' 'no,' or 'maybe'," he said when asked whether his company would talk to or pay the hackers. "No comment on anything to do with negotiating with terrorists in any way."

The topic of ransom payments has become increasingly fraught as ransomware attacks become increasingly disruptive - and lucrative.

Voccola said he had spoken to officials at the White House, the Federal Bureau of Investigation, and the Department of Homeland Security about the breach but declined to say what they had told him about paying or negotiating.

On Sunday the White House said it was checking to see whether there was any "national risk" posed by ransomware outbreak but Voccola said that - so far - he was not aware of any nationally important organizations being hit.

"We're not looking at massive critical infrastructure," he said. "That's not our business. We're not running AT&T's network or Verizon's 911 system. Nothing like that."

Because Voccola's firm was in the process of fixing a vulnerability in the software that was exploited by the hackers when the ransomware attack was executed, some information security professionals have speculated that the hackers might've been monitoring his company's communications from the inside.

Voccola said neither he nor the investigators his company had brought in had seen any sign of that.

"We don't believe that they were in our network," he said. He added that the details of the breach would be made public "once its 'safe' and OK to do that."

Some experts believe the full fallout from the hack will come into focus on Tuesday, when Americans return from their July Fourth holiday weekend. Beyond the United States, the most notable disruption occurred in Sweden - where hundreds of Coop supermarkets had to shut their doors because their cash registers were inoperative - and in New Zealand, where 11 schools and several kindergartens were affected.

In their conversation with Reuters, the hackers' representative described the disruption in New Zealand as an "accident."

But they expressed no such regret about the disruption in Sweden.

The supermarkets' closure was "nothing more than a business," the representative said.

About a dozen different countries have had organizations affected by the breach in some way, according to research published https://www.welivesecurity.com/2021/07/03/kaseya-supply-chain-attack-what-we-know-so-far by cybersecurity firm ESET. (Reporting by Raphael Satter; Additional reporting by Praveen Menon in Wellington, New Zealand. Editing by Kim Coghill, Robert Birsel, William Maclean, Jonathan Oatis and Diane Craft)

It isn’t known whether Didi carried out its own review, according to the WSJ report. The Cyberspace Administration of China (CAC) launched the investigation into Didi on Friday, just two days after the company began trading on the New York Stock Exchange.

They'll share resources and expertise as part of a joint venture with Porsche called Bugatti Rimac.

Photo Illustration by Sarah Rogers/The Daily Beast / Photos via GettyRupert Murdoch, whom I served for seven years, has many business and journalistic achievements. He owes himself a better legacy than a news channel that no reasonable person would believe.It was my great honor to join Rupert, Barry Diller (who now is the chairman of IAC, The Daily Beast’s parent company), Jamie Kellner and many others in the early days of Fox Broadcasting Company, the network that’s the home to The Simpsons and

After Coors sought to steer unconscious minds to thoughts of beer, scientists have called for curbs on ‘targeted dream incubation’ Mmm … insipid lager. Photograph: wunkley/Alamy When brewing giant Coors launched a new advertising campaign earlier this year, the format came as a surprise to many. The company was planning to infiltrate people’s dreams to get them to buy, and presumably drink, Coors beer. Coors encouraged people to watch a short online video before bed, then play an eight-hour “sou

The suit is an all but certain loser in light of Brnovich v. DNC.

A breach at IT services company Kaseya has led to more than 1,000 businesses becoming infected with ransomware over the US July 4 holiday weekend.

OPEC+ abandoned its meeting Monday after a lone holdout continued to block a consensus on production quotas. Oil prices rose.

(Bloomberg) -- Brent oil was steady near $77 a barrel after OPEC+ ended days of talks without a deal to bring back more halted output next month, depriving the market of vital barrels as the global economic recovery gathers pace.Futures in London rose 1.3% on Monday after the alliance failed to reach an agreement, which will leave current production limits in place for August unless talks are revived in the coming days. A disagreement over how to measure output cuts upended a tentative proposal

(Bloomberg) -- OPEC+ abandoned its meeting without a deal, tipping the cartel into crisis and leaving the oil market facing tight supplies and rising prices.Several days of tense talks failed to resolve a bitter dispute between Saudi Arabia and the United Arab Emirates, delegates said, asking not to be named because the information wasn’t public. The group didn’t agree on a date for its next meeting, according to a statement from OPEC Secretary-General Mohammad Barkindo.The most immediate effect

Innoviz, a maker of lidar, the laser-based radar used in self-driving cars, believes it has the right strategy to win market share from competitors.

Min Wanli had a career path much coveted by those pursuing a career in computer science. A prodigy, Min was accepted to a top research university in China at the age of 14. Like many young, aspiring Chinese scientists working in the United States, Min returned to China when the country's internet boom was underway in the early 2010s.

(Bloomberg) -- A former managing director at one of Canada’s largest pension plans claims he is owed C$65 million ($53 million) after being fired.Tim Patterson filed a lawsuit in Toronto on Friday, saying he and a colleague were dismissed from the Ontario Municipal Employees Retirement System in retaliation for not accepting changes to their compensation package. Eight other professionals in the private equity division resigned after receiving their bonuses, Patterson said in court documents. Th

Amazon is posting huge growth across all of its businesses, but the company’s stock has been stuck in a rut for nearly a year.

The U.S. created 850,000 new jobs in June. Great. Yet 9 million people who likely would be working right now had there been no pandemic are still sitting at home.

(Bloomberg) -- Brent oil rose above $77 a barrel for the first time since 2018 after OPEC+ failed to reach an agreement on bringing back curtailed output, leaving the market with tighter supplies than expected.The group’s oil ministers were unable to reach a compromise during talks on Monday, keeping current production limits in place for August and depriving the market from the extra barrels it needs as demand recovers from the pandemic.“As things stand now, this is quite a bullish scenario for

Patience can pay off for you, as well, if you put your money to work in game-changing businesses and allow your investment thesis to play out over time. If growth stocks tickle your fancy, one of the best investments you can make right now for the second half of 2021, and well beyond, is cloud-based customer relationship management (CRM) software provider salesforce.com (NYSE: CRM). CRM software is used by consumer-facing businesses to optimize interactions and sales.

Though claiming that early means collecting less money each month, it could still work to your advantage to file at that age.

China's antitrust regulator is set to formally block Tencent Holdings Ltd's plan to merge the country's top two videogame streaming sites, Huya and DouYu, three people familiar with the matter told Reuters. Tencent has failed to come up with sufficient remedies to meet the State Administration of Market Regulation's (SAMR) requirements on giving up exclusive rights, said two of the people. The internet giant recently withdrew the merger application for antitrust review and refiled it after SAMR told the company it could not complete the review of the merger within 180 days since its first filing, one of them and a separate person said.

Vanguard offers target-date retirement funds to suit the needs of investors of various ages. A target-date fund is a mutual fund that automatically adjusts the asset mix and allocation over a time period that's based on your age and when you want to retire. Vanguard's target-date retirement funds typically invest in other Vanguard index funds and provide investors with instant diversification.

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