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☆ Temasek shifts president, CFO in management shuffle
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: 1 min

Oct 26 (Reuters) - Singapore's Temasek Holdings said on Wednesday President Tan Chong Lee will resign to take up the role as chief executive officer at its fund management firm 65 Equity Partners. In a slew of management changes announced by the investment giant, Leong Wai Leng will step down as the chief financial officer after 16 years to lead the Singapore market team as president. The company's deputy CFO Png Chin Yee will replace Leng from Jan. 1, 2023, it said in a statement. It has in recent days seen stock markets tumble in the face of higher interest rates and inflation. Reporting by Savyata Mishra in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Corporate Australia suffers fourth major hack since September
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

Oct 27 (Reuters) - Australian Clinical Labs (ACL.AX) said on Thursday its Medlab Pathology business suffered a data breach that affected about 223,000 accounts, marking corporate Australia's fourth major hack since September. "Given the highly complex and unstructured nature of the data-set being investigated, it has taken the forensic analysts and experts until now to determine the individuals and the nature of their information involved," ACL said. The ACSC also notified the company in June that Medlab's information had been posted on the dark web, which ACL subsequently sought to find and permanently remove. "We apologise sincerely and deeply regret that this incident occurred... We want to assure all individuals involved that ACL is committed to providing every reasonable support to them," ACL Chief Executive Officer Melinda McGrath said. Reporting by Shashwat Awasthi; Editing by Anil D'Silva and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Here are Wednesday's biggest analyst calls: Tesla, Microsoft, Disney, Amazon, Alphabet & more
▼ + stars: | 2022-10-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Bank of America downgrades Whirlpool to underperform from neutral Bank of America said there has been a severe drop in appliance demand. Bank of America reiterates Uber as buy Bank of America said it's staying "constructive" on Uber heading into earnings on Nov. 1. Morgan Stanley upgrades Discover to overweight from equal weight Morgan Stanley upgraded the stock on a potential buyback resumption. " Morgan Stanley reiterates Disney as overweight Morgan Stanley said Disney shares already have baked in macro risks. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's seeing signs that Tesla is "taking steps to become a bigger player in its own battery supply chain."

☆ Paying off hackers is common, says top Australian govt cybersecurity firm
▼ + stars: | 2022-10-25 | by ( Byron Kaye | ) www.reuters.com time to read: +3 min

SYDNEY, Oct 25 (Reuters) - Corporate insurers routinely pay hackers a ransom for the return of stolen customer data, a top Australian government cybersecurity provider said on Tuesday, as the country's biggest health insurer revealed the growing scale of a recent breach. "In what other sphere of life do you see reputable corporates pay millions of dollars to criminals and somehow it's all okay?" On Tuesday, Medibank said the criminal had shown data of another 1,000 customers and added that the number was likely to grow. 2 telco, Singapore Telecommunciations Ltd-owned (STEL.SI) Optus, said last month about 10 million customer accounts, equivalent to 40% of the Australian population, had data taken by a hacker demanding payment. The federal government has meanwhile said it would introduce fines of up to A$50 million for companies on the receiving end of data breaches.

It said on Wednesday that all personal and significant amounts of health claims data of all its customers were compromised in the breach reported this month, a day after it warned the number of customers affected would grow. Medibank, which covers one-sixth of Australians, said the estimated cost did not include further potential remediation or regulatory expenses. "Our investigation has now established that this criminal has accessed all our private health insurance customers' personal data and significant amounts of their health claims data," chief executive David Koczkar said in a statement. Medibank, which also withdrew its fiscal 2023 policyholder growth forecast, reported an after-tax profit of about A$394 million for fiscal 2022 in August. A person claiming to be behind the Optus hack later withdrew the demand over concerns about publicity.

☆ Australia's No. 1 health insurer warns more patient data stolen in hack
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - Australia's biggest health insurer Medibank Private Ltd (MPL.AX) said it expected the number of customers affected by a massive data breach to grow, after it discovered policy records of a further 1,000 customers had been stolen. Medibank, which provides coverage to one-sixth of Australians, said last week an unidentified person had shown the company stolen personal information of a 100 customers, including medical diagnoses and procedures. read moreOn Tuesday, the company said it had received more files from the criminal, showing information including personal and health claims data of more patients as well as files with some Medibank and international student customer data. 2 telco Optus (STEL.SI), which compromised the data of up to 10 million customers. Register now for FREE unlimited access to Reuters.com RegisterReporting by Shashwat Awasthi; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Casinos reap unexpected rewards in Singapore
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Oct 21 (Reuters Breakingviews) - Las Vegas Sands’(LVS.N) main Macau operations are ailing as China doubles down on zero-Covid. Yet Sands’ New York shares rose nearly 6% on Thursday after results revealed it is having better luck in Singapore. The Lion City now accounts for three quarters of Sands’ top line, up from 22% in 2019. By contrast, in Macau, formerly the world’s largest gaming hub, Sands suffered a loss of $152 million, as gaming revenue sunk to around 10% of 2019 levels. Singapore’s resurgence is surprising, given volumes at Changi airport were still only around half 2019 levels in July and August.

LONDON, Oct 21 (Reuters) - It's not the first time the 145-year-old London Metal Exchange (LME) has found itself in crisis. Register now for FREE unlimited access to Reuters.com RegisterMarch brought Nickel Crisis II, a much scarier update of the original, and now we have the unfolding Russian Metal Crisis. It's perilous legal territory and would have a significant impact on LME price and physical premiums. Meanwhile, CME's (CME.O) cobalt contract has steadily built up liquidity since its end-2020 launch even as activity in the LME's contract has steadily dwindled. Disgruntled funds have already voted with their feet, the collective departure causing LME trading volumes to slide by 6% over the first nine months of this year.

☆ China brings ‘panda diplomacy’ to Qatar with World Cup gift
▼ + stars: | 2022-10-20 | by ( Hannah Lee | Dorothy Kam | ) www.nbcnews.com time to read: +2 min

HONG KONG — A pair of giant pandas arrived in Qatar on Wednesday as a gift ahead of the World Cup, marking the first time China has extended its “panda diplomacy” to the Middle East. Si Hai, a 3-year-old female weighing about 150 pounds, will be given the Arabic name Thuraya, while Jing Jing, a 4-year-old male weighing 265 pounds, will be known in Arabic as Suhail. The pandas will be available for public viewing by the time Qatar hosts the World Cup starting Nov. 20. A child viewing one of two giant pandas gifted from China in Al Khor, Qatar, on Wednesday. Denour / AFP - Getty ImagesGiant pandas, a vulnerable species that seldom reproduces in the wild, are considered a national treasure and symbol of China.

☆ Australia's No. 1 health insurer says hacker stole patient details
▼ + stars: | 2022-10-20 | by ( Byron Kaye | ) www.reuters.com time to read: +4 min

SYDNEY, Oct 20 (Reuters) - Australia's biggest health insurer said on Thursday a criminal had apparently stolen customers' medical information as part of a massive breach of data, fuelling concern about a wave of high-profile cyber attacks. The company did not say how many of its 4 million customers were likely to have been affected but warned the number was likely to rise. 2 telco Optus, owned by Singapore Telecommunications Ltd (STEL.SI), revealed a month ago that data of up to 10 million customers may have been stolen. read moreUntil now, most public commentary has focused on the risk that hackers would use stolen data to access bank accounts. Larger Optus rival Telstra Corp Ltd (TLS.AX) has disclosed a small breach of employee data, while No.

☆ Thai telco regulator gives conditional clearance to True, DTAC merger
▼ + stars: | 2022-10-20 | by ( Chayut Setboonsarng | Andres Gonzalez | ) www.reuters.com time to read: +2 min

BANGKOK, Oct 20 (Reuters) - Thailand’s telecommunications regulator cleared the merger of the country’s second and third largest mobile operators, True Corporation Pcl (TRUE.BK) and Telenor ASA’s (TEL.OL) Total Access Communication Pcl (DTAC) (DTAC.BK) with conditions. The combined entity will overtake Advanced Info Service Pcl (AIS) (ADVANC.BK), as market leader. True, DTAC and AIS did not immediately respond to requests for commentDTAC is backed by Norwegian firm, Telenor. Thai agri-industrial conglomerate Charoen Pokphand Group holds a 49% stake in True Corp with China Mobile holding 18%, True’s website shows. Register now for FREE unlimited access to Reuters.com RegisterReporting by Chayut Setboonsarng; Editing by Susan Fenton;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

☆ Automakers need more time to meet U.S. minerals requirements for EVs -execs
▼ + stars: | 2022-10-19 | by ( Ben Klayman | ) www.reuters.com time to read: +5 min

"We believe it's unfair," he added, pointing out that none of the South Korean automaker's EVs qualify for the credit. Munoz said U.S. legislators should offer companies investing in the United States some type of waiver or a longer transition period. Automakers are trying to figure out how their vehicles will meet the new law's requirements to qualify for EV tax credits. Details of the act are still being ironed out and the U.S. Treasury is currently taking comments on how to implement the rules around the EV tax credits. "We're pretty well positioned," he said at the Reuters conference, citing the Detroit automaker's four U.S. battery plants the company has announced and its raw materials supply deals.

☆ Australia, Singapore sign 'green economy' pact
▼ + stars: | 2022-10-18 | by ( Lewis Jackson | ) www.reuters.com time to read: +2 min

Prime Minister of Singapore Lee Hsien Loong (left) shakes hands with Australian Prime Minister Anthony Albanese during a meeting at Parliament House in Canberra, Tuesday, October 18, 2022. Prime Minister Lee Hsien Loong is in Australia on a 3-day official visit. Lukas Coch/Pool via REUTERSSYDNEY, Oct 18 (Reuters) - Australia and Singapore agreed on Tuesday on a "green economy" deal to boost cooperation on climate investment, financing and technology. Singapore Prime Minister Lee Hsien Loong told a news conference in Canberra that the agreement would start with initiatives such as developing a list of environmental goods and services that could be given preferential trade treatment. "A project like Sun Cable which has the potential to export clean energy to Singapore is the ultimate win-win," Albanese said.

Helen Wong, Group CEO of OCBC Bank poses for a portrait during an interview with Reuters in Singapore October 10, 2022. And while OCBC earned nearly half of its operating profit from Singapore, Greater China was the next-largest contributor, followed by Malaysia. She added that OCBC benefited from having both a brick-and-mortar and a strong digital footprint. This has increased attention on OCBC, which has the strongest capital position among Singapore banks. Sanford Bernstein analysts said in a report in June that OCBC had S$4.8 billion that could be used for acquisitions without the need to raise capital.

☆ Two Australian regulators open investigations into Optus after data breach
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Oct 11 (Reuters) - Two Australian regulators said on Tuesday they have opened investigations into Optus, the country's No. 2 telecoms provider, after a breach of its systems resulted in the theft of personal data from up to 10 million accounts. The agency added that it finds there was a breach of Australian privacy law, it can seek civil penalties of up to A$2.2 million ($1.4 million) per contravention. Australian Competition and Consumer Commission Chair Gina Cass-Gottlieb told a parliamentary hearing the regulator was receiving 600 calls a day from people concerned about the Optus breach, although few had been scammed as a result. ($1 = 1.5881 Australian dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Byron Kaye; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto giant Coinbase gets Singapore licence
▼ + stars: | 2022-10-11 | by ( Xinghui Kok | ) www.reuters.com time to read: +2 min

SINGAPORE, Oct 11 (Reuters) - Coinbase, the largest crypto exchange in the United States, said it has received approval from Singapore's central bank to offer payment services in the city-state. About 180 crypto companies applied for a crypto payments licence to the Monetary Authority of Singapore in 2020 under a new regime. Besides Coinbase, Crypto.com and DBS Vickers - the brokerage run by Singapore's largest bank DBS (DBSM.SI) - are among those that have received licences. Both coins were developed by Terraform Labs, which was incorporated in Singapore. Terraform Lab's founder Do Kwon is currently wanted by the South Korean police.

☆ Singtel's second unit faces cyber attack weeks after Optus data breach
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +1 min

Oct 10 (Reuters) - Singapore Telecommunications Ltd (STEL.SI) said on Monday its unit Dialog faced a cyber attack that potentially affected 1,000 current and former employees and fewer than 20 clients, weeks after a massive data breach at another Australian unit - Optus. Singtel said on Monday the attack on Dialog, an Australia-based information technology services consulting firm, was first detected on Sept. 10. Register now for FREE unlimited access to Reuters.com RegisterShares of Singtel were down 1.6%, as at 0315 GMT. The Singapore-based telecom firm assured that Dialog's systems were completely independent of Optus and information technology unit NCS, and that there was no evidence of any link between the incidents of data breaches at Dialog and Optus. ($1 = 1.5733 Australian dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Sameer Manekar in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Australia tells SingTel-owned Optus to pay cost of replacing hacked ID documents
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterAn Optus representative was not immediately available to respond to Jones's comments. Optus has apologised for the breach and said it would pay for the most affected customers to receive credit monitoring for a year. Optus and law enforcement authorities have not verified the demand, although cybersecurity experts say it was most likely authentic. The stolen data included passport numbers, drivers licence numbers, government health insurance numbers, phone numbers and home addresses, prompting commentators and lawmakers to demand replacement documents. 3 internet provider TPG Telecom Ltd (TPG.AX), which has about 6 million customers.

☆ Singapore air cargo deal elevates its hub status
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Sept 29 (Reuters Breakingviews) - Singapore is boosting its hub status as global recession fears loom. Aviation services group SATS (SATS.SI) is acquiring the world’s largest air cargo logistics provider for $2.2 billion from U.S. buyout firm Cerberus. The deal could ultimately lift trade flows through Singapore where aviation contributes more than 5% of GDP. SATS is part of the city-state’s industry trinity that includes its former parent Singapore Airlines (SIAL.SI) and Changi Airport. As global cargo activity nears pre-pandemic levels, Singapore is providing a strategic home to an asset that’s passed through multiple financial owners.

☆ Singapore's SATS in $1.1 bln deal to become biggest air cargo handler
▼ + stars: | 2022-09-28 | by ( Yantoultra Ngui | ) www.reuters.com time to read: +3 min

SINGAPORE, Sept 28 (Reuters) - Singapore-based ground handling and catering provider SATS Ltd (SATS.SI) is acquiring Paris-based Worldwide Flight Services (WFS) for 1.19 billion euros ($1.14 billion) cash in its largest ever deal, to create the world's biggest global air cargo handler. SATS' CEO Kerry Mok called the deal "a transformational opportunity for SATS", saying it would create a global leader. Last week, Bloomberg News reported that SATS had sounded out financing for a possible deal that could be worth about $3 billion. WFS reported 1.722 billion euros in revenue and earnings before interest, taxes, depreciation, and amortization of 232 million euros for the year ended March 2022. Founded in 1984, WFS is the world's largest air cargo logistics provider and a major provider of ground handling and technical services.

2 mobile operator, said last week that data of up to 10 million customers including home addresses, drivers' licenses and passport numbers had been compromised in one of Australia's biggest data breaches. The Australian federal government has blamed Optus for the breach, flagged an overhaul of privacy rules and higher fines, and suggested the company had "effectively left the window open" for hackers to steal data. Minister For Cyber Security Clare O'Neil said she was "incredibly concerned ... about reports that personal information from the Optus data breach, including Medicare numbers, are now being offered for free and for ransom", referring to the government's health insurance scheme. Optus Chief Executive Kelly Bayer Rosmarin said the incident had generated "a lot of misinformation" and the company took data protection seriously. "The Optus data has been stolen, and we can't trust this person.

☆ Optus, Australian govt clash over cyber attack amid reports of hacker retreat
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +3 min

A woman uses her mobile phone as she walks past in front of an Optus shop in Sydney, Australia, February 8, 2018. Optus Chief Executive Kelly Bayer Rosmarin said there was lot of "misinformation out there". Rosmarin said Optus had briefed authorities after the government's initial review of the incident. Stolen data posted in an online forum has been deleted and hackers have apologised to Optus, the reports said. Australia's Council Of Financial Regulators, which includes the central bank, on Tuesday said its members have been working together in response to the cyber attack.

☆ Australia flags privacy overhaul after huge cyber attack on Optus
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +3 min

Australian Prime Minister Anthony Albanese speaks at the Sydney Energy Forum in Sydney, Australia July 12, 2022. Register now for FREE unlimited access to Reuters.com RegisterAlbanese called the incident "a huge wake-up call" for the corporate sector, saying there were some state actors and criminal groups who wanted to access people's data. Optus said it would offer the most affected customers free credit monitoring and identity protection with credit agency Equifax Inc (EFX.N) for a year. The telco has now alerted all customers whose driving licences or passport numbers were stolen, it said in an emailed statement. ($1=A$1.5309)Register now for FREE unlimited access to Reuters.com RegisterReporting by Lewis Jackson, Renju Jose and Byron Kaye; Editing by Stephen Coates, Clarence Fernandez and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Australia plans privacy rule changes after Optus cyber attack
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Australian Prime Minister Anthony Albanese speaks at the Sydney Energy Forum in Sydney, Australia July 12, 2022. Brook Mitchell/Pool via REUTERS/File PhotoSYDNEY, Sept 26 (Reuters) - Australia plans changes to its privacy rules so that banks can be alerted faster following cyber attacks at companies, Prime Minister Anthony Albanese said on Monday, after hackers targeted Australia's second-largest telecommunications firm. The company said the attacker's IP address - the unique identifier of a computer - appeared to move between countries in Europe. Cybersecurity Minister Clare O'Neill said over the weekend more details about the changes would be announced by the government "in the coming days". ($1 = 1.5309 Australian dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Lewis Jackson and Renju Jose; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Like its rivals, it has benefited from a boom in food services during the COVID-19 pandemic, while ride-hailing suffered. read moreHungate, a veteran of the financial services, logistics and food sectors, has spearheaded a push away from low-margin business lines as Grab races to turn profitable. "The other area where we've really tightened our strategic intent is in financial services where we were growing payments, wallets and non-bank financial lending quite significantly off-platform and on our platform," said Hungate. Grab is betting on growing financial services by offering banking and other products with partner Singapore Telecommunications (STEL.SI) in key markets. read moreHungate said Grab would provide details of its progress towards profitability and other metrics at its first investor day on Tuesday.

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