A $2 billion fraud at India’s Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the bank’s own internal probe has found. PNB, India’s second-biggest state-controlled lender, has previously alleged that a handful of […]
Read moreAustralia’s largest telecom firm Telstra Corp Ltd said it would cut a quarter of its workforce and flagged asset sales on Wednesday, as competition and new technology crush its mainstay fixed-line businesses and force a strategic reset. It will shed 8,000 employees and contractors from a workforce of 32,000 to save A$1 billion ($738 million), […]
Read moreA sophisticated hacking campaign launched from computers in China burrowed deeply into satellite operators, defense contractors and telecommunications companies in the United States and southeast Asia, security researchers at Symantec Corp said on Tuesday. Symantec said the effort appeared to be driven by national espionage goals, such as the interception of military and civilian communications. […]
Read moreNorth Korea’s Kim Jong Un and Chinese President Xi Jinping came to an understanding on issues that were discussed at a summit between the two leaders, including denuclearization of the Korean peninsula, the North’s state media said on Wednesday. Kim and Xi assessed the historic meeting Kim had with U.S. President Donald Trump in Singapore […]
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