October 11, 2020 - Zxcoachoutlet

Uganda banks, MTN, Airtel hacked by mobile money fraudsters

October 11, 2020

A major hack that compromised Uganda’s mobile money network has plunged the country’s telecoms and banking sectors into crisis.

The Oct. 3 hack was a result of a security breach on a consumer finance aggregator, Pegasus Technologies, which mainly affected bank to mobile wallet transfers, according to an Oct. 8 statement by MTN Uganda, the country’s largest mobile phone company. Kampala-based Pegasus Technologies provides financial and billing solutions for various companies including all the affected entities.

At least $3.2 million is estimated to have been stolen in this latest incident with some reports quoting a much higher figure. The hackers used around 2,000 mobile SIM cards to gain access to the mobile money payment system, according to local papers. They then instructed the banks to transfer millions of dollars to telecommunication companies who then paid out mobile money to these different SIM cards across the country.

Big tech’s emerging market finance push brings rewards and risk, FSB says

October 11, 2020

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LONDON, Oct 12 (Reuters) – A push by big technology firms into financial services in developing countries will improve access to them, but might also make traditional lenders more vulnerable, the Financial Stability Board (FSB) said.

The expansion in emerging markets has generally been more rapid and broad-based than that in advanced economies, the FSB, which coordinates financial regulation for the Group of 20 Economies (G20), said in the report released on Monday.

Lower levels of access to traditional banking and financial services developing economies had created demand for services now offered by big tech firms, the report found, particularly among low-income populations and in rural areas.

An increasing availability of mobile phones and internet access supported this trend, the FSB said.

“However the expansion of BigTech activity also gives rise to risks and vulnerabilities,” it said, pointing to lower financial literacy and firms using other data gathered.

“Competition from

Israel finance minister promises budget by December, another official quits

October 11, 2020

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By Steven Scheer and Ari Rabinovitch

JERUSALEM (Reuters) – Israel’s finance minister promised on Sunday the long awaited 2021 state budget would be ready in December amid accusations the government was dragging its heels for political reasons and after a third senior economic official quit in three months.

Failure to pass last year’s budget was a big factor in the unprecedented political turmoil in Israel that led to three elections in a year, the last one held in March.

Uncertainty regarding 2021’s budget has again threatened to topple Prime Minister Benjamin Netanyahu’s fractious emergency government, which he formed with rivals to help the country weather the coronavirus crisis.

Finance Minister Israel Katz said they are now starting to prepare the 2021 budget with discussions in the coming days to determine budget goals and targets.

“The budget will address the need to deal with the continuing coronavirus pandemic as well as

Meadows and Mnuchin urge repurposing PPP money amid stimulus wrangling

October 11, 2020

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Top Trump administration officials are calling on lawmakers to pass legislation to redirect unused funding from a small-business lifeline, the latest salvo in a week of twists and turns in talks between the White House and congressional leaders on a new round of coronavirus stimulus.

a man wearing a suit and tie: "He may. He may," Kudlow said of Mnuchin. "Secretary Mnuchin is up to $1.8 trillion. So, the bid and the offer is narrowing somewhat between the two sides."

© Chip Somodevilla/Getty Images
“He may. He may,” Kudlow said of Mnuchin. “Secretary Mnuchin is up to $1.8 trillion. So, the bid and the offer is narrowing somewhat between the two sides.”

“Now is the time for us to come together and immediately vote on a bill to allow us to spend the unused Paycheck Protection Program funds while we continue to work toward a comprehensive package,” White House chief of staff Mark Meadows and Treasury Secretary Steven Mnuchin wrote in a letter on Sunday to members of the House and Senate. “The all-or-nothing approach is an unacceptable response to the American people.”

The

Hong Kong’s Woes to Help Japan Woo Financiers, Top Official Says

October 11, 2020

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Hong Kong Adopts Strictest-Ever Virus Moves as Cases Grow — Photographer: Lam Yik/Bloomberg

China’s crackdown on Hong Kong and new limits on overseas workers in Singapore could help Japan raise its profile as a global financial hub, despite its higher taxes, according to Japan’s new vice finance minister.

“It’s impossible to make taxation levels exactly the same” as places where social security costs aren’t as high, Kenji Nakanishi said in an interview Wednesday. “But we often hear that even a small change would make a difference and the government needs to send some kind of clear message.”

Prime Minister Yoshihide Suga, who took office last month and appointed Nakanishi, sees a need to make Japan more inviting for overseas financiers as part of his reform agenda. This week he said he wants to speed up efforts to cut some taxes to this end and make more business services available in English.

LDP Member Kenji Nakanshi — Source: Office of Kenji Nakanishi

The

Amy Coney Barrett to say she will judge cases on law not personal views | Amy Coney Barrett

October 11, 2020

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Amy Coney Barrett, Donald Trump’s latest controversial nominee for the US supreme court, will tell senators in her high-stakes confirmation hearing this week that she will approach cases based on the law, not her personal views, as Democrats urged her to step aside on upcoming contentious cases.

Barrett, a fervent Catholic with a record of opposing abortion rights, will say that courts “should not try” to create policy, during Monday’s opening remarks, which were obtained by multiple media outlets on Sunday.

Barrett, a Trump-appointed judge now serving on the US seventh circuit court of appeals, will also say that she’s “done my utmost to reach the result required by the law, whatever my own preferences might be” in her present position. Senate Democrats are expected to grill Barrett on this.

Trump nominated Barrett to replace liberal Justice Ruth Bader Ginsburg, who died in September at the age of 87. If

Tax records show 200 entities funneled money to Trump properties while reaping benefits from White House: NYT

October 11, 2020

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A New York Times analysis of tax records showed that more than 200 companies, special-interest groups and foreign governments have funneled millions of dollars to President TrumpDonald John TrumpNorth Korea unveils large intercontinental ballistic missile at military parade Trump no longer considered a risk to transmit COVID-19, doctor says New ad from Trump campaign features Fauci MORE’s properties while reaping benefits from the president and his administration.

Nearly a nearly a quarter of the entities have not been previously reported.

Sixty patrons, who promoted specific interests to the Trump administration, spent almost $12 million on expenses associated with the Trump Organization during the first two years of Trump’s presidency. The Times reported nearly all of these customers saw their interests move forward.

In interviews with almost 250 business executives, club members, lobbyists, Trump property employees and current administration officials, sources detailed to Times how Trump conducted business and

Your personal assistant is on call, for $50

October 11, 2020

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Is that weird?

Not when you find out what Stuff, formerly known as Delegate, sells. For $50 a month, its mobile app gives you instant access to a network of personal assistants around the United States. They handle tasks such as sending flowers, finding a plumber, or booking the perfect rental home for a family ski vacation. You communicate with them via Stuff’s app — which feels similar to text messaging.

People like Ain, who runs a 12,000-person company, have their own personal assistants on payroll; his has been working alongside him for 25 years. “If she found out I was using Stuff, she’d come to my house and punch me in the nose,” he says.

So Stuff is a bit like Uber, Zipcar, or Turo — disruptive startups that give you access to a nice set of wheels at a much lower price than buying them outright. “It democratizes

Courts siding with insurance firms over business interruption claims | Business

October 11, 2020

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A growing number of U.S. courts are ruling against employers who’ve filed insurance claims for business interruption coverage stemming from government-ordered coronavirus shutdowns.

The Insurance Information Institute reports insurers have won more than a dozen cases since May, with judges ruling that the policies only kick in if a property sustains physical damage. The business owners had argued that the coverage should have started when local or state governments issued stay-at-home orders that hampered their ability to operate.

A couple of Charleston-area cases are still pending in federal court. Black Magic Cafe says its losses started on March 17, when Gov. Henry McMaster ordered a temporary halt to dine-in services at South Carolina restaurants.

The historic Calhoun Mansion at 10 Meeting St., now known as The Williams Mansion, sued its insurer after a McMaster executive order shut down museums.

Charleston cafe takes on insurance firm in fight over coronavirus claims

A bill that would have required insurance carriers

French Open Prize Money 2020: Updated Purse Payout for Roland Garros | Bleacher Report

October 11, 2020

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Christophe Ena/Associated Press

Rafael Nadal has had too many great moments at the French Open to count. This one may have been his best.

Nadal destroyed Novak Djokovic in a 6-0, 6-2, 7-5 romp in Sunday’s French Open final, taking home his record 13th championship at Roland Garros and tying Roger Federer for the most Grand Slam championships in tennis history.

Roland-Garros @rolandgarros

It never gets old 😁

@RafaelNadal #RolandGarros https://t.co/eU8cJZ27Mw

“What you’re doing on this court is unbelievable,” Djokovic said to Nadal on the court after the match. “Not just on this court, throughout your entire career you’ve been a great champion and today you showed why you’re King of the Clay. I’ve experienced it on my own skin.”

The Spaniard will take home a $1.9 million purse for his victory, with Djokovic bringing in $941,296. Darren Rovell of The Action Network had updated career earnings for Nadal,