Tag Archive for: trades

HCLTech trades flat after ransomware attack on cloud project

/in


HCL Technologies said a detailed investigation is underway in consultation with relevant stakeholders to assess the root cause and take remedial action as necessary.

IT services major HCL Technologies traded flat at Rs 1,500 per share on December 20 morning deals after the company faced a ransomware incident within a restricted cloud environment associated with one of its projects.

“HCLTech has become aware of a ransomware incident in an isolated cloud environment for one of its projects. There has been no impact observed due to this incident on the overall HCLTech network,” the IT company said in a stock exchange filing on December 20.

Cybersecurity and data protection is a top priority for HCLTech. A detailed investigation is underway in consultation with relevant stakeholders to assess the root cause and take remedial action as necessary, it added.

Follow our market blog to catch all the live updates

Following a significant 10 percent increase in the span of three trading sessions, HCL Technologies has been downgraded by Kotak Institutional Equities on December 19. The brokerage firm has taken this step due to its perception of limited potential for further gains. Furthermore, Kotak has revised its rating on HCL Technologies, downgrading it from ‘Buy’ to ‘Add’.

Last week, HCL Technologies, India’s No. 3 software-services exporter, entered an exclusive group of companies with a market capitalisation (market-cap) of Rs 4 lakh crore.

In a filing to the stock exchange on December 14, HCL Technologies announced that it has secured a contract from the Department of Transport and Planning in Victoria, Australia. The agreement involves the development and support of a Concessions Entitlement Validation Platform (CEVP).

The platform aims to automate the concession entitlement process for public transport users, providing instant proof of concession entitlement and a passenger interface for applying for and managing concession entitlement. The financial details of the deal were not disclosed.

HCL Technologies cut its revenue forecast for the current financial year in October, attributing the adjustment to weaker-than-expected…

Source…

ICBC pumps funds into US unit after ransomware attack to pay US$9 billion for unsettled trades, hires cybersecurity firm

/in


ICBC’s US unit told market participants on Friday it was hoping to finish the cyber review over the weekend, but the sources said they expected it would spill into next week. Meanwhile, the bank is using manual processes to trade, they said.

The details, including the cash injection for unsettled trades, have not been previously reported.

The ransomware attack was claimed by cybercrime gang LockBit, a widely deployed ransomware first seen on Russian-language-based cybercrime forums in January 2020. It is the latest in a string of ransom demands by hackers this year.

Ransomware attack on ICBC unit disrupts US Treasury market trades

The cyberattack sent ripples through the US Treasuries market, where ICBC acts as a broker for hedge funds and other market participants, helping them trade in the securities. While the extent of disruption to market was limited, it brought into focus the resilience of a market that underpins global finance.

When the hack happened earlier this week, ICBC was unable to access its systems, leaving it temporarily owing BNY US$9 billion for unsettled trades, two of the sources said. The custody bank is the sole settlement agent for Treasuries.

The Chinese parent then injected capital into the US unit, allowing it to settle the trades and pay back BNY Mellon, the sources said. That has now happened, they said.

ICBC did not respond to a request for comment. ICBC Financial Services, the bank’s US unit, has said it was investigating the attack that disrupted some of its systems, and making progress toward recovering from it.

Industrial and Commercial Bank of China near Pudong South Road, Shanghai. ICBC says it hopes to complete the assessment of its systems as soon as this weekend after a ransomware attack. Photo: Future Publishing via Getty Images

ICBC’s representatives told market participants on a call organised by the Securities Industry and Financial Markets Association (SIFMA), a trade group, on Friday afternoon that they had hired a cybersecurity firm to do an assessment to ensure that its systems are safe, three sources familiar with the matter said.

ICBC said it hopes to be done as soon as this weekend, the sources said, noting that it could take longer,…

Source…

Industrial and Commercial Bank of China suffers ransomware attack; trades in US Treasury market disrupted: Report

/in


Industrial and Commercial Bank of China (ICBC), the country’s largest commercial lender by assets, reportedly suffered a ransomware attack on Thursday that disrupted the trades in the US Treasury market. However, the impact of the ransomware attack seemed to be limited, Reuters reported.

In a statement, ICBC Financial Services said a ransomware attack resulted in disruption to certain systems and it was conducting an investigation and “progressing its recovery efforts.”

The bank said it had successfully cleared Treasury trades executed on Wednesday and repurchase agreements (repo) financing trades done on Thursday.

The Treasury trades executed on Wednesday and repurchase agreements (repo) financing trades done on Thursday had been successfully cleared, the bank said.

(Exciting news! Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!)

Bloomberg reported citing people familiar with the situation that a prolific criminal gang known as Lockbit is suspected to have orchestrated the hack.

According to some market participants, trades going through ICBC were not settled due to the attack and this affected market liquidity, Reuters reported.

In ransomware attacks, hackers encrypt an organization’s systems and demand ransom payments in exchange for unlocking them. 

The Financial Times earlier had reported that the US Securities Industry and Financial…

Source…

Global Internet Security Software Market Gross Margin, Tends, Trades, Revenue and Future Demand 2028 – KSU

/in


The trending research report Internet Security Software Market with impact of COVID-19, Published by Market Research INC. The report provides an overview of the Internet Security Software Market with detailed market segmentation by product, application and geography. The Internet Security Software Market report focuses on the competitive landscape and future trends and trades, as well as critical factors and challenges such as market size, futuristic opportunities, CAGR Value, SWOT Analysis and new product/project growth opportunities. Internet Security Software market report likewise give an exhaustive comprehension of the cutting-edge competitive analysis of the developing business trends alongside the drivers, restrictions, difficulties, and openings in the Internet Security Software market to offer beneficial experiences and flow situation for settling on right choice.

Get Sample Copy of this Internet Security Software market report: https://www.marketresearchinc.com/request-sample.php?id=30888

The report firstly introduced the Internet Security Software Market basics: Definitions, Classifications, Applications, and Market Overview, Product Specifications, Manufacturing Processes, Cost Structures, Raw Materials and so on. The Global Internet Security Software Market Report gives a clear idea about the global competitive landscape, it offers unique insights into the businesses by providing detailed data about some significant strategies to get customers rapidly.

Internet Security Software Market Segmented by Major Key Players, Major Type, Major Application and Regional Outlook

Major Key Players

  • Symantec
  • McAfee
  • Trend Micro
  • AVG
  • Avast Software
  • ESET
  • Bitdefender

Major Types

  • Linux
  • Macintosh OS
  • Microsoft Windows

Major Application

  • Individual Users
  • Enterprise Users
  • Government Users

Regional Outlook:

The report offers in-depth assessment of the growth and other aspects of the Car Rental and Leasing market in important regions. Key regions covered in the report are North America (United States, Canada and Mexico), Europe (Germany, France, United Kingdom, Russia and Italy), Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia), South America (Brazil, Argentina), Middle…

Source…