Bengaluru — SitusAMC, a technology vendor for real estate lenders said on Saturday that it had been the subject of a cyberattack on November 12, the New York Times reported on Saturday.
JPMorgan Chase, Citi and Morgan Stanley are among those that have been notified by SitusAMC that their client data may have been accessed, the report added, citing people familiar with the matter.
Reuters could not immediately verify the report. Reuters
Ford upbeat despite fire at aluminium supplier
Detroit — Ford Motor on Friday stood by its annual earnings before interest and taxes guidance of $6bn-$6.5bn for this year after another fire last week at aluminium supplier Novelis’ New York plant.
Ford’s stock rose about 4% during Friday’s session, extending gains after the automaker reaffirmed the outlook it had already revised because of production disruptions from a devastating blaze at the supplier’s plant in September.
In October, the carmaker cut its profit forecast, citing a gross hit of up to $2bn from the incident. Ford expects to offset about $1bn of that next year by increasing production at certain truck plants, it said in October.
Ford is a major customer of Novelis because its trucks use a largely aluminium body. The automaker indefinitely paused production of its F-150 Lightning electric pickup in Michigan after the September fire at Novelis’ Oswego, New York, factory. Output of its lucrative gas-powered F-150 line-up has also been disrupted. Reuters
Airbus to make and launch a satellite for Oman
Cairo — Oman signed an agreement with Airbus on Sunday to design, manufacture and launch the sultanate’s first communications satellite, Oman’s state news agency reported.
The new satellite would help boost Oman’s communications system and build capacities in areas of space and future technologies, the state news agency said. Reuters
Moody’s upgrades Italy’s sovereign rating
Bengaluru — Global ratings agency Moody’s on Friday upgraded Italy’s sovereign rating to “Baa2” from “Baa3“, citing the country’s consistent track record of political and policy stability.
“Italy is making good progress in meeting the milestones and targets of the National Recovery and Resilience Plan, leading among all EU countries in terms of number of payment requests and disbursements,” the agency said in a statement.
Moody’s has upgraded Italy’s rating for the first time since May 2002, when it passed from “Aa3” to “Aa2“, and the rating has not changed since a downgrade in October 2018. Reuters
Reeves plans to cut exemption from import tariff
London — Britain’s finance ministry said on Friday that finance minister Rachel Reeves plans to raise around £500m a year by removing an exemption from tariffs for imports of individual goods costing under £135.
Reeves has pledged not to increase the cost of living for British households in her annual budget on November 26, but retailers such as clothing chain Next and rival Primark-owner Associated British Foods have lobbied against what they see as unfair competition from overseas stores.
While major retailers must pay tariffs on many goods they import in bulk, Britons who buy similar items direct from online retailers, often based in China, do not have to pay tariffs if they cost below a certain amount. Reuters
Japanese vehicles meet with approval in China
Guangzhou — Car enthusiasts browsing Japanese brands at one of China’s biggest annual auto shows shrugged off diplomatic tensions between the two countries on Saturday, saying quality and value for money still trump politics when choosing a vehicle.
“Economics is economics, politics is politics, and the two shouldn’t be mixed,” said Wang, who works in research & development for a major tech company as he looked over Honda hatchbacks at the Guangzhou International Auto Show. He declined to give his full name.
Japanese vehicles were prominent among the dozens of domestic and foreign automakers and hundreds flocked to Honda’s display to watch choreographed dances to techno music. Reuters
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