Business News

Ransomware virus hits computer servers across Europe – Reuters

By Jack Stubbs and Pavel Polityuk| MOSCOW/KIEV A major ransomware attack on Tuesday hit computers at Russia’s biggest oil company, the country’s banks, Ukraine’s international airport as well as global shipping firm A.P. Moller-Maersk. Moscow-based cyber security firm Group IB said hackers had exploited code developed by the U.S. National Security Agency (NSA) which was leaked and then used in ...

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Consumer confidence hits 118.9 in June, versus 116 estimate – CNBC

The Consumer Confidence Index rose in June to 118.9, despite expectations for it to drop, The Conference Board announced Tuesday. Economists were expecting the index to drop slightly to 116 for the month of June, according to Thomson Reuters consensus estimates. Last month, the index dipped to 117.9, down from its April reading, The Conference Board said. Consumer expectations improved ...

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Google Fined Record $2.7 Billion in EU Antitrust Ruling – New York Times

Google suffered a major blow on Tuesday after European antitrust officials fined the search giant a record $2.7 billion for unfairly favoring some of its own services over those of rivals. The penalty, of 2.4 billion euros, highlights the aggressive stance that European officials have taken in regulating many of the world’s largest technology companies, going significantly further than their ...

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Shares in Grenfell cladding maker sink – BBC News

Shares in the company that made the cladding used on Grenfell Tower have fallen sharply in New York. Arconic, formerly known as Alcoa, fell more than 7% to $23.76 after the firm said it would stop selling Reynobond PE cladding for use in high-rises. A fire on 14 June killed dozens of residents of the west London tower. Arconic said ...

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Japanese airbag maker Takata files for bankruptcy, gets Chinese backing – Reuters

By Naomi Tajitsu and David Shepardson| TOKYO/WASHINGTON Japan’s Takata Corp (7312.T), at the center of the auto industry’s biggest-ever product recall, filed for bankruptcy protection in the United States and Japan, and said it had agreed to be largely acquired for $1.6 billion by the Chinese-owned U.S.-based Key Safety Systems. In the biggest bankruptcy of a Japanese manufacturer, Takata faces ...

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A 'very credible' new study on Seattle's $15 minimum wage has bad news for liberals – Washington Post

A worker at a Subway in Seattle makes a sandwich. (AP Photo/Ted S. Warren) When Seattle officials voted three years ago to incrementally boost the city’s minimum wage up to $15 an hour, they’d hoped to improve the lives of low-income workers. Yet according to a major new study that could force economists to reassess past research on the issue, ...

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