Half a billion Yahoo accounts breached; The IPO business is in a slump, and more news
Yahoo said the accounts of 500 million users were breached. That is 2-? times as many as Yahoo suggested had been affected when it revealed, earlier this summer, that a hacker was selling user data — including usernames, passwords, birth dates, other email addresses — from a 2014 hack. “This is one of the biggest breaches of people’s privacy and very far reaching,” security professional Alex Holden told the Times.
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AirBnB has raised $555 million at a $30 billion valuation, Fortune "has learned from multiple sources." Among the backers is Alphabet's investment arm, the Wall Street Journal reports. The infusion could reach $850 million. Sources tell Fortune the company doesn't really need the money, but views it as "'insurance' in case of new capital requirements or an even longer wait for an IPO."
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Eight US Senators are asking the Labor Dept. to investigate Wells Fargo. The request is tangential to the sales fraud issue: The legislators want to know if the bank violated wage laws "by failing to pay overtime to tellers and sales representatives who worked late to meet sales quotas," says Reuters. Goldman Sachs, meanwhile, estimates the damages to customers whose credit scores suffered would be less than $50 million.
The IPO business hasn't been this bad for two decades,The Wall Street Journal reports. The Journal's metric is bank fees, which so far this year amounts to $3.7 billion. That's the lowest since 1995 — $2.6 billion by this time that year. For some perspective, it was 20 years ago that the IPO boom began when Netscape went public.
Oxford University earned top spot in the latest rankings by Times Higher Education. It's the first time a non-US university was deemed #1 by the group, which doesn't consider student-oriented criteria like acceptance rate and post-grad salary, but "research impact." Caltech slipped to #2, and Harvard is the highest-ranked Ivy League school, at #6.
Cover Art: Workers use a crane to move a section of a Yahoo! billboard onto a truck on December 21, 2011 in San Francisco, California. Yahoo's iconic retro-style billboard was taken down after 12 years of greeting visitors to San Francisco. The brightly colored billboard, reminiscent of a 1960's era motel sign, was installed in 1999 next to Interstate 80 near downtown San Francisco. (Photo by Justin Sullivan/Getty Images)
Ex-Big4 Principal - Management Consulting | Certified - FP&A + International M&A Expert + M&A Professional | Adjunct Professor - Engineering, Business School(s) | Project Finance | Athlete: Distance Runner & Swimmer
8 年It is a new world and this is the new norm. The daily news underdog always takes a bad beating. The possibility that his may not have been disclosed two years ago only adds to their tarnished image. The potential liabilities could end what's left. Many Large companies get hacked. Assuming consumers are promptly notified in all instances is wishful thinking-not an excuse. How recent history influences future valuation of tech has far reaching implications. The cloud is the new theater of operations for global conflict which does not help.
System and Network Engineer
8 年Yahoo? who cares?
PRAIRIE NETWORK
8 年So what the heck is WELLS FARGO got to do with YAHOO or cant they mind their own business and by the way why is WELLS FARGO being investigated ????? as some one in the www.yahoo.com system really screwed up so badly as this is the baby service of the internet which the F.B.I use too so what have they done to their service
UAV Systems Architect at General Atomics Aeronautical Systems
8 年Truly abysmal information assurance practices ...