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Uber Makes First Profit Since Launch a Decade Ago

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Uber on Thursday reported its first profitable quarter on an adjusted basis since it launched more than a decade ago with its two most important segments, ride-hailing and restaurant delivery, both turning the corner.

Company executives allayed investor concerns about a shortage of drivers, telling analysts that spending on incentives to entice drivers back on the road after the pandemic was largely behind the company.

But a massive drop in the value of its stake in Chinese ridehailing company Didi drove a $2.4 billion (roughly Rs. 17,853 crore) net loss in the third quarter, and Wall Street viewed Uber’s fourth-quarter forecast as disappointing. Shares bounced in after-hours trade and were up about 1 percent as Uber briefed Wall Street in a call.

The California-based company reported adjusted earnings before interest, taxes, depreciation and amortization, a measure that excludes one-time costs such as stock-based compensation, of $8 million (roughly Rs. 59.5 crore) for the quarter ended September 30. That compared to a loss on the same basis of $625 million (roughly Rs. 4,649 crore) a year ago.

Uber forecast an adjusted profit of $25 million (roughly Rs. 185 crore) to $75 million (roughly Rs. 557 crore) for the last quarter of 2021. Analysts on average expected $114 million (roughly Rs. 847 crore), according to Refinitiv data.

Despite the adjusted profit, Uber’s earnings report came as a disappointment after smaller US rival Lyft on Tuesday reported its second consecutive quarterly adjusted profit at $67.3 million (roughly Rs. 500 crore) and said it expected adjusted EBITDA of between $70 million (roughly Rs. 520 crore) and $75 million in the fourth quarter.

Uber’s and Lyft’s operations have yet to become profitable on a net basis, and the companies decline to provide guidance of when that might happen.

A drop in value of Uber’s holding in Chinese ride service Didi and stock-based compensation payments resulted in a net loss that more than doubled from last year.

Didi, which went public in June, saw its market capitalization drop by billions of dollars after China’s market regulator launched an anti-trust probe.

In Uber’s real-world business, total revenue grew 72 percent to $4.8 billion (roughly Rs. 35,701 crore), above an average analyst estimate of $4.4 billion (roughly Rs. 32,723 crore), according to IBES data from Refinitiv.

Uber’s delivery business, which includes restaurant food and store deliveries, emerged as the company’s backbone during the pandemic. Delivery revenue saw a steady increase in the third quarter, signaling that growth in riders did not come at the expense of its Uber Eats unit.

The company’s core restaurant delivery business, which makes up some 96 percent of delivery gross bookings, was profitable for the first time on an adjusted EBITDA basis in the third quarter, Uber said.

Consumers were traveling in greater numbers in the third quarter and its driver and courier base had grown by nearly 640,000 people since January, Uber said. The company spent more than $250 million (roughly Rs. 1,858 crore) to lure drivers back after the pandemic.

Uber did not provide data on how driver numbers compared to pre-pandemic levels. Uber Chief Executive Dara Khosrowshahi said the company wanted to grow its driver base beyond 2019 levels to meet expected demand.

Ride bookings in the quarter remained more than 20 percent below third-quarter levels in 2019, but Uber said ride unit margins had returned to pre-pandemic levels.

“Investors want to see a meaningful recovery in the gross bookings for Uber’s ride-hailing service which is a high-margin business compared to UberEats,” said Haris Anwar, an analyst at Investing.com.

While Uber said Halloween weekend surpassed 2019, demand from riders traveling for parties and fun is at about 80 percent of pre-pandemic levels, executives said during an analyst earnings call.

U.S. airport trips, among the most profitable routes in the industry, increased in recent weeks, but lagged all other ride categories, remaining around 33 percent below pre-pandemic levels.

 

© Thomson Reuters 2021


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Scientists Simulate Climate of Frank Herbert’s Dune. What They Found

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American author Frank Herbert described a fictitious world in the 1960s in his epic sci-fi book series Dune, which has now been turned into a movie of the same name. The book, which took the author six years to complete, is set in a distant future on Arrakis, a desert planet. Herbert’s depiction of Arrakis was so detailed and real that every reader could imagine themselves within it. However, if such a world existed, what would it actually be like to be in it? So, a few scientists set out to examine how realistic Dune was as compared to exoplanets.

They tried to know how the environment of such a world would compare against a real one, say Earth. Dune, as imagined by its author, suffers powerful dust storms and has no rainfall. The dry monotony is occasionally disrupted by mountain ranges and rocky outcrops. Then, there’s intense heat.

The scientists presented the results of their modelling in a report in The Conversation, saying Herbert did a great job describing the planet. He envisioned an environment that for the most part meets expectations, they said, adding that the planet is indeed habitable but very inhospitable.

The scientists said that they “started with a climate model commonly used to predict weather and climate” on Earth.

“To use these sorts of models, you have to decide on the physical laws and then input data on everything from the shape of mountains to the strength of the sun or the makeup of the atmosphere. The model can then simulate the climate and tell you roughly what the weather might be like,” the scientists stated in the report.

The scientists used the same physical laws data points that govern the climate on Earth. Dune’s atmosphere is not very dissimilar to Earth’s. However, the CO2 level is a little lower than Earth’s, which is expected since the books were written almost 60 years ago when CO2 concentration was lower even in our atmosphere. The ozone is different, too.

But the major difference is between their cities. The books suggest Dune’s cities are nearer the polar regions and conditions there should be more hospitable. The model said summer temperatures in polar regions could reach a bone-scorching 70 degrees Celsius and winter temperatures drop to -70 degrees Celsius. Also, it said high-altitude regions in the upper latitudes of Arrakis received seasonal rain.

Despite some differences between the two, the authors write, Herbert did create a reasonably believable planet without the benefit of climate science and computers.


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Bitcoin, Ether Remain Stable With Minor Gains, Dog-Coins Suffer Losses

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As the week draws to an end, the value of Bitcoin failed to make a bulky gain on Friday, November 5. The oldest cryptocurrency in the world rose marginally by 0.43 percent in valuation and is currently trading at $67,212 (roughly Rs. 49.9 lakh) per token, on Indian exchanges like CoinSwitch Kuber. Globally the prices are a little lower but still remain strong. Despite minor gains and losses, the reigning crypto-coin managed to hold its value over $62,000 (roughly Rs. 47 lakh) ever since it reached a new peak during the last few day of October.

Ether also seems to have followed Bitcoin, gaining only a little before wrapping up the first week of November. The cryptocurrency grew by just 0.40 percent to trade at $4,908 (roughly Rs. 3.64 lakh), as per the Gadgets 360 crypto price tracker.

At a glance, the crypto-price chart today looked like a mixed bag of mixed red and green price indicators.

Tether, Polkadot, USD Coin, and Chainlink are among some cryptocurrencies to have registered minor gains.

While crypto-coins including Cardano and Ripple found themselves dealing with minimal value losses, the going remained tough for Dogecoin and its other dog-based copycats.

Potential DOGE competitor Shiba Inu has also been losing value for the past few days. The dog-token registered a significant loss of 15.92 percent and is currently trading at $ 0.000049 (roughly Rs. 0.003633). This drastic dip in the SHIB price comes after the cryptocurrency, on October 25, registered a 50 percent spike and became the 11th-biggest cryptocurrency coin by market value, WatcherGuru had reported.

Baby Doge Coin, Floki Inu, and Kishu Inu are among other meme-based dog coins to have lost values in this last week of November.

The crypto-space is increasingly attracting people to enter and experiment with its elements including non-fungible tokens (NFTs) and the metaverse

In a recent report, for instance, research firm Civic Science said US residents in low-paying jobs are churning profits from crypto investments and are considering quitting their jobs.

The survey finds that almost two-thirds of the people who left their jobs had an income of less than $50,000 (roughly Rs. 37.2 lakh) annually and the “financial freedom” offered by their crypto-assets gave them the confidence to resign from their jobs.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 



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Aviation Safety Concerns to Delay AT&T, Verizon 5G Rollout

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Telecom giants AT&T and Verizon agreed to push back deployment of a new 5G frequency band to allow time to address air safety concerns, US regulators said Thursday.

The two companies will “voluntarily pause” the commercial rollout “to further assess any impact on aviation safety technologies,” the Federal Aviation Administration and the Federal Communications Commission said in a joint statement.

The two companies had planned to begin using the 5G network on December 5, after spending tens of billions of dollars to purchase licenses.

But aviation regulators have worried about the possible interference of the signals with flight safety equipment.

The agencies pledged “to coordinate closely to ensure that the United States keeps pace with the rest of the world in deploying next-generation communications technologies safely and without undue delay.”

The FAA on Tuesday issued a special bulletin to aircraft manufacturers and radio altimeter manufacturers recommending analysis of potential interference at the 3.7 to 3.8 Ghz levels, as well as at frequencies between 4.2 and 4.4 GHz.

Airlines should alert pilots to the “potential degradation” of safety systems “dependent upon radio altimeters,” the FAA said.

“There have not yet been proven reports of harmful interference due to wireless broadband operations internationally, although this issue is continuing to be studied,” the FAA said.

AT&T said it would push back deployment to January 5.

“It is critical that these discussions be informed by the science and the data,” the company said in statement. “That is the only path to enabling experts and engineers to assess whether any legitimate co-existence issues exist.”

© Thomson Reuters 2021


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Windows 11 Features Including Snipping Tool Aren’t Working for Some Users Due to Expired Certificate



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iQoo Neo 5s, iQoo Neo 6 SE Key Specifications Tipped Ahead of Launch

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iQoo Neo range might get two new models to expand its portfolio as per a tipster. Key specifications of these two models have leaked and while the official name of the phones have not been revealed, they are likely to be called the iQoo Neo 5s and iQoo Neo 6 SE. Of the two, the iQoo Neo 5s is tipped to be powered by the Qualcomm Snapdragon 888 SoC and pack a 4,500mAh battery. The iQoo Neo 6 SE on the other hand is tipped to come with 66W fast charging support.

Chinese tipster Digital Chat Station leaked specifications of the rumoured two iQoo Neo phones. While the tipster does not mention the name of the two phones, reports indicate that they may be the iQoo Neo 5s and iQoo Neo 6 SE. The iQoo Neo 5s is tipped to feature an OLED display with 120Hz refresh rate. It is likely to be powered by the Qualcomm Snapdragon 888 SoC and pack 4,500mAh battery. The iQoo Neo 5s may be an upgraded version of the iQoo Neo 5 Vitality Edition that was unveiled earlier this year.

Another Chinese tipster Arsenal has claimed that the iQoo Neo 5s may feature a 120Hz refresh rate display and come with a 16-megapixel selfie camera setup. At the back, the phone may feature a triple rear camera setup with a 48-megapixel Sony IMX598 primary sensor. The iQoo Neo 5s is also tipped to come with 66W fast charging support. Other leaked specifications include 12GB RAM, 256GB of internal storage, a linear motor, and dual speakers.

On the other hand, the iQoo Neo 6 SE is tipped b Digital Chat Station to be powered by the Qualcomm Snapdragon 778G or Snapdragon 778G Plus processor. The tipster notes that the phone may come with support for 66W fast charging. It is tipped that both the phones are positioned in the mid-range segment.

The company has not made any official announcements regarding the iQoo Neo 5s or the iQoo Neo 6 SE.

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.


Tasneem Akolawala is a Senior Reporter for Gadgets 360. Her reporting expertise encompasses smartphones, wearables, apps, social media, and the overall tech industry. She reports out of Mumbai, and also writes about the ups and downs in the Indian telecom sector. Tasneem can be reached on Twitter at @MuteRiot, and leads, tips, and releases can be sent to tasneema@ndtv.com.
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AT&T, Verizon to Delay 5G Deployment Due to Flight Safety Concerns: US Regulators



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UK Man Accused of Hacking Celebrities’ Twitter Now Charged With Crypto Theft

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A UK man previously charged in the United States with involvement in the hacking of politicians’ and celebrities’ Twitter accounts was charged on Wednesday over a separate scheme resulting in the theft of $784,000 (roughly Rs. 5.82 crore) of cryptocurrency.

US prosecutors in Manhattan said Joseph James O’Connor, 22, and his accomplices stole Bitcoin, Ethereum, and Litecoin after gaining control of victims’ cellphone numbers by linking them to subscriber identity module cards, or SIM cards. Bitcoin price in India stood at Rs. 50.18 lakh, Ethereum price stood at Rs. 3.66 lakh, while Litecoin price stood at Rs. 16,200 as of November 5 at 11:57am IST.

O’Connor, also known as PlugwalkJoe, and his accomplices conducted so-called SIM swap attacks targeting three executives of a Manhattan cryptocurrency company, stole cryptocurrency from two clients, and laundered what they stole, prosecutors said.

A lawyer for O’Connor could not immediately be identified. Prosecutors said the scheme ran from March to May 2019.

O’Connor has been awaiting possible extradition from Spain following his July 21 arrest concerning a July 2020 hacking that compromised dozens of Twitter accounts and allegedly netted more than $118,000 (roughly Rs. 87.74 lakh) of Bitcoin.

The accounts included those of current US President Joe Biden, former President Barack Obama, Amazon’s Jeff Bezos, Warren Buffett, Bill Gates, Tesla’s Elon Musk, reality TV star Kim Kardashian and Ye, the rapper once known as Kanye West.

Graham Ivan Clark, the accused teenage mastermind of the Twitter hacking, pleaded guilty in March in a Florida state court and agreed to serve three years in a juvenile prison.

Wednesday’s charges against O’Connor include conspiracies to commit wire fraud and money laundering, each carrying a maximum 20-year prison term, as well as aggravated identity theft and conspiracy to commit computer hacking.

© Thomson Reuters 2021


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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How to Use WhatsApp on Multiple Devices Without Keeping Your Phone Online

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WhatsApp has started rolling out its anticipated multi-device support for a large number of users on both Android and iOS to let them use their account on secondary devices, without requiring their phones to be connected to the Internet. Users can leverage the new feature to connect WhatsApp on up to four devices simultaneously to send and receive messages on the app even when their phones are not connected to the Internet. The update is helpful if you access WhatsApp on a desktop or Mac.

Introduced in July after a series of internal testing, multi-device support on WhatsApp allows users to connect their instant messaging account to a secondary device — say a PC, laptop, or Facebook Portal. It notably enables end-to-end encryption on the chats that takes place using the secondary device. This means that neither WhatsApp nor a third party can read the messages you send or receive on your connected PC.

By offering standalone support, WhatsApp enables users to send and receive messages on their secondary devices even if they are not in the proximity of their phones. The feature also helps you stay connected to WhatsApp if your phone runs out of charge.

How to link your WhatsApp account to a secondary device

Before beginning with the steps below, it is important to note that you must be on the latest WhatsApp version to get multi-device support and link your account to a secondary device. The feature is also currently in ‘beta’ and may, thus, result in some stability issues for the time being. Furthermore, it is limited to WhatsApp Web, Desktop, and Portal. This means that WhatsApp hasn’t yet enabled support for linking an Android phone or iPhone as a secondary device. You can also not connect your WhatsApp account using multi-device support to an Android tablet or iPad at this moment.

  1. Join multi-device beta by going to WhatsApp and then Settings > Linked Devices > Multi-Device Beta.

  2. Once done, go back to the Linked devices screen and then tap the Link a Device button to link a new device.

  3. You will now be required to scan a QR code available on your secondary device to link it with your WhatsApp account.

After linking, WhatsApp will allow you to send and receive messages using your secondary device. You will also be able to see your previous messages from the secondary device, though the messages that are deleted from your primary device will not be visible on the secondary one. Messages that you delete from your secondary device will also not be visible on your phone. However, this feature doesn’t work with an iPhone.


For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.


Jagmeet Singh writes about consumer technology for Gadgets 360, out of New Delhi. Jagmeet is a senior reporter for Gadgets 360, and has frequently written about apps, computer security, Internet services, and telecom developments. Jagmeet is available on Twitter at @JagmeetS13 or Email at jagmeets@ndtv.com. Please send in your leads and tips.
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Intel Confirms DRM Incompatibility Impacts Over 50 Games on 12th Gen Core ‘Alder Lake’ CPUs

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Over 50 Games Affected by DRM Issue on Latest Intel Processors

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Intel has confirmed that over 50 games are facing issues on PCs based on its 12th-generation Core processors due to incompatibility with certain Digital Rights Management (DRM) software. The list of games that are being affected as a result of the DRM problem includes Assassin’s Creed Valhalla, Far Cry Primal, Need for Speed: Hot Pursuit Remastered, and Star Wars Jedi: Fallen Order, among others. Intel said that a software fix of the affected DRM software is being rolled out. But in the meantime, the chipmaker has also provided a workaround to manually allow players to launch and play the impacted games.

Unlike the previous-generation models, Intel’s 12th-generation Core processors (codenamed Alder Lake) split the CPU workload into high-powered “performance” cores and low-powered “efficiency” cores. Intel said that some third-party gaming DRM software incorrectly recognises the efficiency cores as another system. “This prevents games implementing that DRM software from running successfully,” the company said in a support page.

Intel said that due to the issue with the DRM software, some games are crashing during launch or even unexpectedly shutting down.

“A software fix has been identified by the vendor of the affected DRM software and is being rolled out,” the company said.

The initial patch is expected to reach 11 games sometime in the middle of November, through the upcoming Windows 11 update. These games include titles like Anthem, Bravely Default 2, Fishing Sim World, Football Manager 2019, Football Manager Touch 2019, Football Manager 2020, Football Manager Touch 2020, Legend of Mana, Mortal Kombat 11, Tony Hawk’s Pro Skater 1 + 2, and Warhammer I.

In addition to the first batch of the games receiving the patch, Intel is working with developers to resolve DRM issues with the rest of the games. These are namely Assassin’s Creed Valhalla, Far Cry Primal, Fernbus Coach Simulator, For Honor, Lost in Random, Madden 22, Maneater, Need for Speed: Hot Pursuit Remastered, Sea of Solitude, Star Wars Jedi: Fallen Order, and Tourist Bus Simulator.

All these games are impacted by the DRM software issue with Windows 11 and Windows 10.

Intel also provided a list of 29 additional games that are facing hiccups on Windows 10. The company recommends users to resolve the issues after updating their systems to Windows 11.

These games are: Ace Combat 7, Assassin’s Creed Odyssey, Assassin’s Creed Origins, Code Vein, eFootball 2021, F1 2019, Far Cry New Dawn, FIFA 19, FIFA 20, Football Manager 2021, Football Manager Touch 2021, Ghost Recon Breakpoint, Ghost Recon Wildlands, Immortals Fenyx Rising, Just Cause 4, Life is Strange 2, Madden 21, Monopoly Plus, Need For Speed Heat, Scott Pilgrim vs The World: The Game, Shadow of the Tomb Raider, Shinobi Striker, Soulcalibur VI, Starlink, Team Sonic Racing, Total War Saga: Three Kingdoms, Train Sim World, Train Sim World 2, and Wolfenstein: Youngblood.

Intel said that the list of games facing issues will be updated as they will get patched. Meanwhile, it has recommended users to enable Legacy Game Compatibility Mode to manually fix problems. The mode is available in the BIOS setup.

Last month, Intel suggested the potential problems due to the incompatible DRM software in a developer guide. The issues were also noticed in early reviews of Intel’s Core i9-12900K and other 12th-generation processors.

The Alder Lake processor lineup by Intel was ​​launched in late October to take on AMD. It brings up to 16 heterogeneous cores to deliver improved performance experiences.


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Amazon Seeks Approval to Deploy 4,500 More Satellites for Internet Project

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Amazon.com is seeking approval from US communications regulators to deploy more than 4,500 additional satellites as part of the company’s effort to deliver broadband Internet to areas around the world that lack high-speed service.

Amazon had said previously it planned to spend at least $10 billion (roughly Rs. 74,200 crores) to build 3,236 such satellites through its Project Kuiper programme. Late on Thursday it asked the Federal Communications Commission (FCC) for approval to deploy a total of 7,774 satellites for the project.

On Monday, Amazon asked the FCC for approval to launch and operate two prototype satellites by the end of 2022.

Amazon said in its filing the satellites “will serve households, hospitals, businesses, government agencies, and other organisations around the world, including in geographic areas where reliable broadband remains lacking.”

“Although connectivity has improved on a global basis, only 51% of the global population, and 44 percent of the population of developing countries, are online,” the company filing said.

In 2020, the FCC approved the Project Kuiper plan for the constellation of low-Earth orbit satellites to compete with the Starlink network being built out by Elon Musk’s SpaceX.

Amazon has sparred with Musk, recently accusing the billionaire of ignoring a variety of government-imposed rules.

Amazon founder Jeff Bezos and Musk are rivals in the private space launch business. Bezos’ Blue Origin had challenged the National Aeronautics and Space Administration’s decision to award a $2.9 billion (roughly Rs. 21,500 crores) lunar lander contract to SpaceX but a judge rejected the challenge on Thursday.

SpaceX has deployed more than 1,700 satellites.

Earlier this week, the FCC approved Boeing’s application to launch and operate 147 satellites to provide high-speed broadband internet access.

Boeing first filed with the FCC in 2017 seeking approval to deploy a V-band Constellation of mostly low-Earth orbit satellites.

Boeing said this week it “sees a multi-orbit future for satellite technologies. As the demand for satellite communications grows, diversity will be required across orbital regimes and frequencies to satisfy unique customer demands.”

© Thomson Reuters 2021


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SolarWinds Investors Allege Board Knew About Cybersecurity Risks

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SolarWinds investors have sued the software company’s directors, alleging they knew about and failed to monitor cybersecurity risks to the company ahead of a breach that created a vulnerability in thousands of its customers’ systems.

The lawsuit filed in Delaware on Thursday appears to be the first based on records shareholders demanded from the company after Reuters reported last December that malicious code inserted into one of the company’s software updates left US government agencies and companies exposed.

The lawsuit names a mix of current and former directors as defendants.

A SolarWinds spokesperson said the company does not comment on pending litigation, but noted it is focused on “deepening” customer relationships and “openly discussing our Secure by Design initiatives as we look to set the standard for secure software development.”

Led by a Missouri pension fund, the investors allege that the board failed to implement procedures to monitor cybersecurity risks, such as requiring the company’s management to report on those risks regularly.

They are seeking damages on behalf of the company and to reform the company’s policies on cybersecurity oversight.

The lawsuit is the latest fallout over the breach of SolarWinds’ software, which gave hackers access to the data of thousands of companies and government offices that used its products and which US officials have attributed to Russia.

SolarWinds has said it is cooperating with investigations into the breach by the US Securities and Exchange Commission, Department of Justice and others. The company has moved to dismiss another shareholder lawsuit seeking damages for a decline in its share price.

© Thomson Reuters 2021


This week on Orbital, the Gadgets 360 podcast, we discuss the Surface Pro 8, Go 3, Duo 2, and Laptop Studio — as Microsoft sets a vision for Windows 11 hardware. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Amazon Seeks US Approval to Deploy 4,500 Additional Satellites for Internet Project

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