'Whale' finance fraud hits businesses
The spoofed messages ask finance staff to rush through a payment to a supplier that the chief executive cannot handle because they are out of the office. Experts have dubbed this "whaling" fraud because it targets "one big fish" as opposed to phishing, which tends to be aimed at lots of smaller fry.
US tech company Ubiquiti Networks said it had lost $47m (£30m) to this scam. "The focused attacks by criminals are increasing because they have realised they can make a bigger pay-off than they can from many thousands of smaller attacks," BAE head of threat intelligence Adrian Nish said.
Source: Bbc Website
Bajaj Finance Q2 net up 42% to Rs 279 crore from Rs 197 crore
MUMBAI: Bajaj FinanceBSE 5.84 % reported 42% jump in net profit during the second quarter of the financial year. During the quarter profit after tax for the quarter grew 42% to Rs 279 crore from Rs 197 crore in the same period last year. Loan losses and provisions for the second quarter rose 71% to Rs 137 crore as against Rs 80 crore. The company took an accelerated provision of 31 crore in the second quarter of the financial year . Gross NPA stood at 1.67% and Net NPA dropped to 0.46% as on 30, September 2015.
Source: Indiatimes Website
Tesla slammed by Consumer Reports, shares slide
DETROIT (Reuters) - Consumer Reports said it would no longer recommend Tesla's Model S sedan due to reliability concerns, in a blow to the luxury electric-powered car initially awarded the highest-ever score in the U.S. magazine's performance ratings. The decision, based on the influential publication's annual survey of vehicle reliability, sent shares of Tesla Motors Inc (TSLA.O) reeling and underscored the risk of introducing cutting-edge fuel-saving technology and digital multimedia systems in vehicles.
Source: Yahoo Website
Nine ways your family finances will change under a Liberal government
Here are nine things you need to know about how your personal finances will change under the new Liberal government. These points are based on measures the party campaigned on prior to the election Monday. 1. Middle class tax cuts: People with taxable income between $44,700 and $89,401 will save as much as $670 per year on their income taxes. 2. Tax increases for high earners: The Liberals will increase income taxes on people making more than $200,000 a year. At $300,000, the extra tax would amount to $3,330; the top combined federal and provincial marginal tax rate will be above 50 per cent in Manitoba, Ontario, Quebec, New Brunswick and Nova Scotia.
Source: Theglobeandmail Website
Alternative finance boom adds to case for interest rate rise, says Bank of England’s Ian McCafferty
Rising use of 'alternative' financing by small and medium-sized businesses is a sign that the UK economy is recovering, and sets the scene for interest rates to rise, according to a Bank of England rate setter.
Ian McCafferty, a member of the Bank’s Monetary Policy Committee, said that the tight credit conditions suffered by businesses since the financial crisis had now started to diminish.
"Large businesses are currently facing very favourable financing conditions," he said.
Source: Telegraph Website
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