Tag Archive for: Fourth

Fourth quarter numbers being rechecked post-ransomware, says SpiceJet


The airline said its Q4 FY22 financial result was prepared before the ransomware attack

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SpiceJet

has retrieved its system and data following the ransomware attack last month, the aviation company has said. The company’s fourth quarter result has not been declared as yet as auditors are re-authenticating financial numbers, it added.


“Our financial results have been delayed due to reasons beyond the company’s control as a result of the ransomware attack that affected our IT systems, which includes certain data as well,” said in a statement.


The airline said its Q4 FY22 financial result was prepared before the ransomware attack. But now the numbers are being re-authenticated by auditors. “The process is normal in such events,” it added.


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T-Mobile's CEO is apologizing for the company's fourth hack in five years – The Washington Post



T-Mobile’s CEO is apologizing for the company’s fourth hack in five years  The Washington Post

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China’s Legend Star closes fourth RMB fund at $119m


Legend Star, an early-stage focused investment firm set up by Lenovo Holdings, has closed its fourth RMB-denominated fund at 800 million yuan ($119 million) in September, per its announcement on Monday.   

The fund received 25 per cent of the corpus from its parent company Lenovo Holdings while the rest was secured from tech funds of funds (FOFs), state-owned groups and private-owned enterprises.

Nearly 90 per cent of its existing limited partners, who invested in the predecessor, has re-upped in the latest vehicle, Legend Star said on WeChat. 

Legend Star will target investments in early-stage startups in advanced technology, healthcare and TMT sectors. Within tech, it looks at sub-sectors such as robotics, digital transformation of traditional industries, biotech, medical equipment, semiconductors, culture and entertainment, among others.

The latest fund has already made 16 investments as of September 30, 2020. Legend Star had along with other investors recently backed the 100 million yuan ($14 million) Series A round for Beijing-based biotech firm QL Biopharm. 

Legend Star manages as many as seven RMB funds amounting to 3.5 billion yuan ($522 million). It has so far invested in over 300 startups. Some of its previous investments include chip developer Picocom, digital finance manager Credit Life, internet security service provider Lanxiang Zhilian, biotech firm HELP Therapeutics, and Changmugu.  

Legend Star had raised a similar-sized third RMB fund, as its successor, back in 2018 from a slew of investors including the Chinese Academy of Sciences Holdings, VMS Investment, CreditEase and Hony Horizon Fund. 

Other recent RMB funds that hit their closing include Source Code Capital that raised its fourth RMB fund at 3.8 billion yuan ($567 million) and Legend Capital’s Fund VIII at a hard cap of $500 million.

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Fourth Circuit Appeals Court Seems Skeptical That Baltimore’s Aerial Surveillance System Violates The Fourth Amendment

The legal fight over Baltimore’s aerial surveillance system continues. Airplanes armed with powerful cameras fly constantly over the city, allowing law enforcement to view the movements of people and vehicles over a 32-square mile area. The resolution may be high (192 million megapixels) but the area covered reduces people to (nearly) unidentifiable dots on a screen. However, these recordings can be accessed to trace movements of pixels/people as they move to and from suspected crime scenes.

The city isn’t paying a dime for these cameras and airplanes. The equipment — provided by Persistent Surveillance Systems — is paid for by a private donor. This perhaps explains why the city chose to roll it out with zero public notice back in 2016. After a brief shutdown, it has resumed, with a bit more public involvement. It may be audacious, but it hasn’t been all that successful. Reports show the program logged 700 flights but only one arrest.

The ACLU sued, claiming this persistent surveillance of nearly everyone in the city violated the Fourth Amendment. The federal court disagreed, even taking into consideration the ability of the program to engage in persistent tracking of individuals when combined with the PD’s cameras on the ground. Despite the word “persistent” being used by the company itself, the program is far from persistent, with darkness preventing recording and inclement weather occasionally grounding spy planes.

There’s an appeal underway, but as Louis Krass reports for Baltimore Brew, the ACLU doesn’t appear to have found much more sympathy one level up. The ACLU argued the untargeted surveillance system is an unreasonable search. In other words, Baltimore residents would not consider it reasonable to have their public movements surveilled for up to 12 hours a day for six months straight.

Judge J. Harvie Wilkinson disagrees.

“Whose constitutional rights is this violating?” Wilkinson, a Reagan appointee, asked.

“These are simple observations of public movements, and it’s not inside someone’s dwelling, it’s public streets, where someone’s expectancy of privacy is minimal,” he said. “We’re not talking about excessive police force, so is it the right of the pixel whose rights are being violated?”

The judge is right that the expectation of privacy is lower in public areas. But this is too reductive. A pixel isn’t just a pixel — incapable of having its rights violated. It’s a person, even if that person can’t be clearly identified using these recordings alone. The entire purpose of the aerial surveillance system is to help police identify criminal suspects. And police do this by cross-referencing this footage with surveillance equipment on the ground, which is completely capable of turning a “pixel” into a person.

But Wilkinson isn’t the only judge being asked to rule on this. Judge Roger Gregory is far more critical of the government’s arguments. The government said there were no Constitutional concerns in tracking the movements of millions of Baltimore “pixels” since the PD was only interested in the “pixels” who may have been near a crime scene. Most of the recordings collected are never used by the Baltimore PD’s analysts.

That doesn’t make it okay, says Judge Gregory.

Gregory, a Clinton appointee, countered that it is unconstitutional to gather such information in the first place.

“That would turn the Fourth Amendment on its head,” he said. “That’s like invading someone’s home with a camera and taking a photograph of you, then say, ‘It’s no problem because we never developed the film.’”

It seems unlikely the Appeals Court will be any more impressed with the ACLU’s arguments. As long as people are still rendered as pixels — and planes incapable of capturing footage 24 hours a day — there appears to be very little violation of privacy. If there’s no sympathy for the mosaic theory of the Fourth Amendment — where multiple Constitutional surveillance techniques combine to form an unconstitutional invasion of privacy — Baltimore residents will still be watched by multiple eyes in the sky.

Techdirt.