report

‘Stay at home stock’ Slack Technologies dips ahead of report

FILE PHOTO: The Slack Technologies Inc. logo is seen on a display on the floor of the New York Stock Exchange (NYSE) during the company’s IPO in New York, U.S. June 20, 2019. REUTERS/Brendan McDermid

(Reuters) – Shares of Slack Technologies (WORK.N) dipped 3% on Thursday ahead of the workplace communication platform’s quarterly report, pausing a three-month rally fueled by millions of people working from home due to the coronavirus.

A top pick among traders betting on shares of companies benefiting from the recent shutdown of the U.S. economy, Slack on Wednesday closed at a record high after more than doubling from lows in March during Wall Street’s broad selloff.

However, the unprofitable company faces massive competition from Microsoft’s (MSFT.O) Teams workplace chat software, and its recent surge has stretched its valuations.

“The biggest risk to Slack in our view is that the good news is

Read More

UK plans cut in Huawei’s 5G network involvement: newspaper report

(Reuters) – Prime Minister Boris Johnson is planning to reduce Chinese telecoms equipment maker Huawei Technologies Co Ltd’s involvement in Britain’s 5G network in the wake of the coronavirus crisis, the Daily Telegraph newspaper reported bit.ly/2zmI2DE.

FILE PHOTO: The British flag and a smartphone with a Huawei and 5G network logo are seen on a PC motherboard in this illustration picture taken January 29, 2020. REUTERS/Dado Ruvic/Illustration

Johnson has asked officials to make plans to reduce China’s involvement in British infrastructure to zero by 2023, the newspaper reported late on Friday.

Johnson is expected to use less reliance on China as a means to boost trade talks with U.S. President Donald Trump in the aftermath of Britain’s departure from the European Union, according to the newspaper.

Downing Street declined to comment. Huawei did not immediately respond to a request for comment.

Earlier on Friday, The Times reported that Johnson has

Read More

UK eyes cuts to Huawei’s 5G network involvement in wake of COVID-19: report

FILE PHOTO: The British flag and a smartphone with a Huawei and 5G network logo are seen on a PC motherboard in this illustration picture taken January 29, 2020. REUTERS/Dado Ruvic/Illustration

(Reuters) – Prime Minister Boris Johnson is planning to reduce Chinese telecoms equipment maker Huawei Technologies Co Ltd’s [HWT.UL] involvement in Britain’s 5G network in the wake of the coronavirus crisis, the Daily Telegraph newspaper reported bit.ly/2zmI2DE.

Johnson has asked officials to make plans to reduce China’s involvement in British infrastructure to zero by 2023, the newspaper reported late on Friday.

The prime minister is expected to use less reliance on China as a means to boost trade talks with U.S. President Donald Trump in the aftermath of Britain’s departure from the European Union, according to the newspaper.

Earlier on Friday, The Times reported that Johnson has instructed civil servants to make plans to end Britain’s reliance on China

Read More

Financial gain trumps espionage as top motivator in cyber attacks: report

Silhouette of mobile device user is seen next to a screen projection of binary code are seen in this picture illustration taken March 28, 2018. REUTERS/Dado Ruvic/Illustration

NEW YORK (Reuters) – Money trumped spying as the top motivator for data breaches last year, according to Verizon’s annual report on cyber crimes published on Tuesday.

About nine out of 10 breaches were financially motivated, based on an examination of more than 32,000 incidents and nearly 4,000 confirmed break-ins in 81 countries, the report said.

Verizon Business 2020 Data Breach Investigations Report found that confirmed data breaches doubled from the prior year. As the coronavirus pandemic has forced people indoors, cyber attacks on businesses are expected to climb.

The report found that 86% of breaches were for money, not for purposes of spying. Credential theft, phishing and compromising business emails caused 67% of the cyber attacks.

As more businesses moved to web-based

Read More