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Britain must boost cyber-attack capacity, PM Johnson says

Britain needs to boost its capacity to conduct cyber attacks on foreign enemies, Prime Minister Boris Johnson said before the publication of a national security review next week.

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LONDON (Reuters) – Britain needs to boost its capacity to conduct cyber attacks on foreign enemies, Prime Minister Boris Johnson said before the publication of a national security review next week.

FILE PHOTO: Britain’s Prime Minister Boris Johnson holds a virtual news conference at 10 Downing Street, amid the coronavirus disease (COVID-19) outbreak, in London, Britain, March 8, 2021. REUTERS/Hannah Mckay/Pool

“Cyber power is revolutionising the way we live our lives and fight our wars, just as air power did 100 years ago,” Johnson said in a statement released by his office on Saturday.

Johnson is due to present a long-term review of national security strategy to parliament on Tuesday which media reports suggest could lead to a reduction in armed forces personnel.

“The review will set out the importance of cyber technology to our way of life – whether it’s defeating our enemies on the battlefield, making the internet a safer place or developing cutting-edge tech to improve people’s lives,” Johnson’s office said.

In 2019, Britain spent $59 billion, or 2.1% of national income, on defence, more than any other large European country but far below the 3.5% of income spent by the United States.

Britain has invested heavily in costly aircraft carriers in recent years and maintains nuclear weapons, but its ground forces have shrunk since the Cold War ended.

Some British media have reported that the review will call for the number of army personnel to be reduced by a further 12,500 to around 70,000.

The defence ministry said on Saturday that talk of cuts “at this stage is speculation”.

Johnson said the National Cyber Force – including spies, defence officials and scientists – would have a permanent base in northern England as the government tries to boost regional development outside London.

The NCF targets threats including foreign air defence systems and the mobile phones of people the government views as serious criminals or terrorists.

It was created last year alongside a dedicated army regiment focused on cyber warfare. In 2016 a National Cyber Security Centre was set up to advise the government and public on how to reduce the risk of cyber-attacks.

Reporting by David Milliken, Editing by Timothy Heritage

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Source: https://www.reuters.com/article/uk-britain-defence-idUSKBN2B50OP

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Reuters

Eco-friendly sneaker maker Allbirds aims for $2 bln valuation in U.S. IPO

Eco-friendly sneaker maker Allbirds Inc said on Monday it aims to be valued at over $2 billion in its New York IPO, joining a growing number of firms tapping into surging consumer demand and investor interest for such products.

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A sign on the entrance to the Allbirds flagship store is seen in Manhattan, New York City, U.S., September 7, 2021. REUTERS/Shannon Stapleton

Oct 25 (Reuters) – Eco-friendly sneaker maker Allbirds Inc said on Monday it aims to be valued at over $2 billion in its New York IPO, joining a growing number of firms tapping into surging consumer demand and investor interest for such products.

The company, backed by asset manager Franklin Templeton, said it is offering 19.2 million shares priced between $12 and $14 each, along with the selling stockholders. At the top end of that range, the IPO would fetch about $269 million.

As global calls grow to limit global warming and switch to more environmentally friendly ways of living, several companies have come under investor and activist pressure to contribute to the change.

Among a handful of startups that recently tapped into investor interest in such sustainable offerings were Oprah Winfrey-backed vegan milk maker Oatly Group AB (OTLY.O) and Jessica Alba’s consumer goods company Honest Co (HNST.O). read more

Founded in 2015, Allbirds is also backed by Oscar-winning actor Leonardo DiCaprio and uses wool, fiber derived from eucalyptus and other plant-based alternatives in its products. It has partnered with Adidas to create a range of sustainable sneakers, some of which have become immensely popular across Silicon Valley where the company is headquartered.

Numerous celebrities, top business executives and high-profile personalities such as Barack Obama, Ashton Kutcher and Google co-founder Larry Page have been spotted wearing Allbirds sneakers in recent years.

Allbirds, however, toned down some of its environmental references in an amended filing earlier this month. The company, which said in August it would pioneer a framework to conduct the first-ever “sustainable public equity offering”, later removed references to the claim.

In its latest filing, Allbirds said it expects net revenue to grow up to 32% to $62.5 million for the three months ended Sept. 30, due to higher sales at its physical stores.

However, higher expenses are expected to drive up net losses to about $15 million to $18 million in the quarter, from nearly $7 million a year earlier.

Morgan Stanley, J.P. Morgan and BofA Securities are the lead underwriters for the offering.

Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.

Our Standards: The Thomson Reuters Trust Principles.

Founded in 2015, Allbirds is also backed by Oscar-winning actor Leonardo DiCaprio and uses wool, fiber derived from eucalyptus and other plant-based alternatives in its products. It has partnered with Adidas to create a range of sustainable sneakers, some of which have become immensely popular across Silicon Valley where the company is headquartered.

Source: https://www.reuters.com/business/retail-consumer/footwear-maker-allbirds-targets-over-2-bln-valuation-us-ipo-2021-10-25/

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Reuters

Facebook apologizes for second outage in a week, services back up

Facebook Inc apologized to users for a two hour disruption to its services on Friday and blamed another faulty configuration change for its second global outage this week.

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Silhouettes of mobile users are seen next to a screen projection of Instagram logo in this picture illustration taken March 28, 2018. REUTERS/Dado Ruvic/Illustration/File Photo

Oct 8 (Reuters) – Facebook Inc (FB.O) apologized to users for a two hour disruption to its services on Friday and blamed another faulty configuration change for its second global outage this week.

The company confirmed its social media platform, Instagram, Messenger and Workplace were impacted by the latest outage.

“Sincere apologies to anyone who wasn’t able to access our products in the last couple of hours,” the company said. “We fixed the issue, and everything should be back to normal now.”

During the latest outage, some users were unable to load their Instagram feeds, while others were not able to send messages on Facebook Messenger.

People swiftly took to Twitter to share memes and jokes about the second service disruption this week. “Looks like Facebook went to a 3-day work week. Monday and Friday shutdowns?” a Twitter user said.

Instagram thanked users for their patience and “for all the memes this week”.

On Monday, the social media giant blamed a “faulty configuration change” for a nearly six-hour outage that prevented the company’s 3.5 billion users from accessing its social media and messaging services such as WhatsApp, Instagram and Messenger.

The outage on Monday was the largest that web monitoring group Downdetector had ever seen and blocked access to the apps for billions of users, leading to a surge in usage of rival social media and messaging apps. read more

Moscow officials said Monday’s outage showed Russia was right to develop its own social media networks, while EU antitrust chief Margrethe Vestager highlighted the repercussions of relying on just a few big players, underscoring the need for more rivals. read more

Both the outages piled pressure on Facebook this week after a former employee turned whistleblower accused the company on Sunday of repeatedly prioritizing profit over clamping down on hate speech and misinformation. read more

Reporting by Subrat Patnaik in Bengaluru and Sheila Dang in Dallas; Additional reporting by Bhargav Acharya; Editing by Shounak Dasgupta

Our Standards: The Thomson Reuters Trust Principles.

“Sincere apologies to anyone who wasn’t able to access our products in the last couple of hours,” the company said. “We fixed the issue, and everything should be back to normal now.”

Source: https://www.reuters.com/technology/instagram-feeds-not-loading-some-users-2021-10-08/

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Chinese social media platforms to “rectify” financial self-media accounts

China’s top social media platforms, Wechat, Douyin, Sina Weibo and Kuaishou, said on Saturday they would begin to rectify irregular practices of “self-media” accounts that publish financial information, reported state media Global Times.

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WeChat app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

SHANGHAI, Aug 28 (Reuters) – China’s top social media platforms, Wechat, Douyin, Sina Weibo and Kuaishou, said on Saturday they would begin to rectify irregular practices of “self-media” accounts that publish financial information, reported state media Global Times.

This follows an announcement by China’s cyberspace regulator, the Cyberspace Administration of China (CAC), that it would look into accounts that have repeatedly released financial news illegally, distorted economic policy interpretation, badmouthed financial markets, spread rumours and disrupted network communications.

The term “self-media” is mostly used on Chinese social media to describe independently operated accounts that produce original content but are not officially registered with the authorities.

Wechat said in a statement on Saturday that from now until Oct. 26, it would investigate and shut down financial self-media accounts that “badmouth the financial market” and “blackmail and spread rumors.”

Sina Weibo, Douyin and Kuaishou also released similar statements on Saturday, reported the Global Times, with Sina Weibo and Kuaishou adding that they would severely crack down on accounts that violate the rules.

The announcements come amid a recent crackdown by Beijing on the tech sector, with the latest regulations targeting “chaotic” celebrity fan culture and algorithms that technology companies use to drive their business. read more

China is also framing rules to ban internet companies whose data poses potential security risks from listing outside the country, including in the United States. read more

Reporting by Emily Chow. Editing by Gerry Doyle

Our Standards: The Thomson Reuters Trust Principles.

The term “self-media” is mostly used on Chinese social media to describe independently operated accounts that produce original content but are not officially registered with the authorities.

Source: https://www.reuters.com/world/china/chinese-social-media-platforms-rectify-financial-self-media-accounts-2021-08-28/

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