Tuesday, September 1, 2015

Hackers raid Apple accounts via jail-broken iPhones

Hackers raid Apple accounts via jail-broken iPhones

[SAN FRANCISCO] Hackers targeting jail-broken iPhones have raided more than 225,000 Apple accounts, using them for app-buying sprees or to hold phones for ransom, researchers said on Tuesday.
Jail-broken means modified to run apps not sanctioned by Apple.
"We believe this to be the largest known Apple account theft caused by malware," computer security firm Palo Alto Networks said in an blog post.
An attack using malicious code dubbed "KeyRaider" was discovered by WeipTech, an amateur technical group from Weiphone, described as one of the largest Apple fan websites in China, according to Palo Alto Networks.
In July, WeipTech members began investigating reports that some people's Apple accounts were used to make unauthorised purchases or application installations.
WeipTech worked with Palo Alto Networks to uncover KeyRaider.
KeyRaider is being distributed through Cydia repositories in China but may be affecting users in 18 countries including France, Australia, and the United States, according to Palo Alto Networks.
Cydia repositories are locations where software for jail-broken iPhones can be found and installed.
KeyRaider targets Apple mobile devices that have been jail-broken, or altered to run applications or other software not sanctioned by the California-based maker of iPhones, iPads, and iPods.
While investigating KeyRaider, WeipTech discovered an online server with passwords and other information from more than 225,000 Apple accounts, according to Palo Alto Networks.
The malicious code steals Apple account information by intercepting iTunes traffic and App Store purchase data. It can also be used to thwart users from unlocking iPhones or iPads, according to researchers.
"In addition to stealing Apple accounts to buy apps, KeyRaider also has built-in functionality to hold iOS devices for ransom," Palo Alto Networks said.
"It's important to remember that KeyRaider only impacts jail-broken iOS devices." In comment provided to AFP, Apple stressed that it makes a priority of security and that the App Store is curated to make sure software developers stick to guidelines set by the company.
"iOS is designed to be reliable and secure from the moment you turn on your device," an Apple official said.
"This issue only impacts those who not only have jail-broken devices, but have also downloaded malware from untrusted sources." Apple added that it is helping those affected by KeyRaider to reset iCloud accounts with new passwords.
AFP

US auto sales pace heats up in August

US auto sales pace heats up in August    

[NEW YORK] US auto sales rose at a solid pace in August, boosted by continued robust demand for sport utility vehicles and pickups amid low gasoline prices and an improving jobs market.
Lightweight vehicle sales totaled 1.58 million, increasing from July but down 0.5 per cent from a year ago, in part because the last month had one less selling day than August 2014, according to Autodata.
Seasonally adjusted, though, Autodata's estimated annual rate of sales surged to 17.8 million vehicles, topping analysts' estimates of 17.5 million.
It was the strongest sales pace since July 2005 and the highest for August since 2003.
"As one of the earliest and most reliable indicators of goods consumption, we take a positive signal from stronger-than-expected August vehicle sales," said Jesse Hurwitz, US economist at Barclays.
"Consumer sentiment has moderated a bit in recent months as financial market volatility and concerns over international growth have increased; however, these data indicate that consumption should hold up despite these factors," he said.
General Motors, the largest US automaker, said it sold 270,480 vehicles last month, a gain of 6.0 per cent from August 2014, after it adjusted for the fact that the Labour Day weekend, a factor in last year's August sales, only comes well into September this year.
For dealerships, Labour Day is a prime occasion for model year-end clearance sales.
Without that adjustment, GM sales were down 0.7 per cent.
"GM's retail sales increase far outpaced the industry in August, and we have grown our retail share for five months in a row compared to last year," said Kurt McNeil, GM's US vice-president of Sales Operations, in a statement.
"All of the economic fundamentals that we look at, including job growth, disposable income and fuel prices, are in good shape and that should keep sales strong," he said.
GM's biggest seller by far in August was the Silverado pickup truck, with 54,977 units sold, up 11.7 per cent year-on-year.
Luxury brand Cadillac sales fell 5.5 per cent and sales of Chevrolet, GM's premier brand in the US, fell 1.5 per cent.
Ford Motor, the number-two US automaker, said it had its best August in nine years with 234,237 vehicles sold, a 5.0 per cent increase.
Sales of F-Series pickup trucks jumped 5.0 per cent to 71,332 units, the best monthly result since 2006. Ford is stepping up production to meet robust demand for its new aluminum-bodied F-150 pickup, the company's most popular vehicle that accounts for almost half its earnings.
Italian automaker Fiat Chrysler Automobiles's US unit, FCA US, said it had its best August sales in the United States since 2002 at 201,672 vehicles, an increase of 2.0 per cent from a year ago, with the Jeep brand kicking in an 18 percent jump.
FOREIGN AUTOMAKERS SKID
Japanese auto giant Toyota reported US sales dropped 8.8 per cent to 224,381 units. Sales of signature gasoline-electric hybrid Prius dived 24.2 per cent as low gasoline prices at the pump continued to prime demand for bigger gas-guzzlers.
Toyota's mid-sized pickup Tacoma and Highlander SUVs had their strongest monthly increase since 2003. The luxury Lexus brand had its best month ever, up 2.1 per cent.
Honda's August sales fell 6.9 per cent to while Nissan reported an 0.8 per cent decline.
In total, Asian automakers saw their sales fall 3.3 per cent and their market share shrink to 46.6 per cent from 48.0 per cent.
German auto giant Volkswagen posted a 2.8 per cent decline, but Volkswagen Group's premium unit Audi had its second-best sales month in the US, gearing up a 9.9 per cent increase with 18,794 vehicles sold.
AFP

Dollar falls on China worries

Dollar falls on China worries

[NEW YORK] The dollar sank against the euro and the yen on Tuesday after poor Chinese factory data added to worries about the economic slowdown in the global growth engine.
Global stock markets sank and oil tanked after official data suggested China's key manufacturing sector stalled in August. The purchasing managers index slumped to a three-year low of 49.7 in August from 50.0 in July. A reading below 50 indicates contraction.
"The US dollar debuted a little weaker in September as disappointing data from China kept markets gravitating toward low-yielders like the euro and yen, and away from riskier assets," said Joe Manimbo, senior market analyst at Western Union Business Solutions.
Both the euro and the yen benefited from investors' search for a safe haven amid the market volatility.
The euro rose 0.9 per cent, fetching US$1.1313 in late-afternoon trade. The greenback slid 1.4 per cent against the Japanese currency at 119.51 yen.
"I think it's still very much a risk sentiment-driven market," said Vassili Serebriakov of BNP Paribas.
"A we've recently seen, the euro is doing well enough in this kind of environment, with renewed market tensions."
AFP

Brazil to keep key interest rate at 14.25%

Brazil to keep key interest rate at 14.25%  

[BRASÍLIA] Brazil's central bank is expected to maintain its key interest rate at 14.25 per cent this Wednesday after seven consecutive hikes aimed at holding back soaring inflation.
A weekly Central Bank survey of 100 economists on Tuesday said that further raising the rate would not help Brazil's steep economic slowdown.
The world's seventh biggest economy is in a recession predicted to extend through 2016 and previous rate rises have not prevented a steady rise in inflation to the current 12-year high of 9.56 per cent.
The 14.25 per cent interest rate is already one of the highest in big economies.
"The word crisis crops up on all sides. It's not monetary policy that's going to protect the country... and quickly reduce inflation," said Zeina Latif, chief economist at XP Investimentos.
"The Central Bank has been very clear on this question: what's happening is a prolonged pause and that's why there's no reason to think there'll be a raise in rates now," she said.
Analysts believe the high interest rate will gradually bring down price rises, but that a new hike could be risky.
The real has lost more than a quarter of its value against the US dollar this year and there are fears for Brazil's investment grade credit rating after the government on Monday presented a 2016 budget that for the first time projects operating in the red.
In addition to the macroeconomic troubles, Brazil is being shaken by a political crisis with President Dilma Rousseff facing calls for her impeachment.
AFP

US to seek demand growth, press China for clarity at G-20

US to seek demand growth, press China for clarity at G-20


[WASHINGTON] The US will press fellow G-20 economies this week to act to boost world growth, and urge China to better communicate its policies, a senior Treasury official said on Tuesday.
The official said Treasury Secretary Jacob Lew's focus will be on measures countries can undertake to stimulate demand when the economic chiefs of the Group of 20 elite economies meet on Thursday and Friday in Ankara, Turkey.
"He will emphasise that, fundamentally, the world needs more demand," said the official, who spoke on condition of anonymity.
"We need more strong, reliable engines of global demand," he said, pointing to fiscally stronger countries "with space" economically to help via deeper stimulus efforts.


"I don't think it's too late" to do this, the official said.
He also said that Mr Lew will stress to his counterpart from Beijing that China must better communicate its economic policies to bring calm to markets.
"Concerns over economic momentum particularly in China have weighed on commodities and markets generally," the official said.
In addition to continuing key reforms, he said, critical to China's success "is carefully communicating its intention and actions to financial markets."
"It's important for communication to be clear and effective across a range of issues, be they related to growth, financial markets and so forth."
AFP

Europe struggles as figures show gravity of migrant crisis

Europe struggles as figures show gravity of migrant crisis

[BUDAPEST] Hungarian police blocked hundreds of migrants from boarding trains to western Europe from Budapest's main rail station Tuesday, as figures showed more than 350,000 have risked their lives to cross the Mediterranean this year.
As hundreds of police, some in riot gear, moved people out of Keleti station, statistics from the International Organization for Migration (IOM) revealed the scale of Europe's biggest migrant crisis since World War II.
IOM figures show over 234,770 migrants have landed in Greece alone so far this year - more than the entire Europe-wide figure for all of 2014. Another 114,276 made it to Italy.
But at least 2,600 have died on the journey, it said, drowning or suffocating in dangerous or unseaworthy boats.
The UN's children's agency UNICEF said eight out of 10 refugees arriving in Macedonia, one of the main transit points onto western Europe, were fleeing war-torn Syria.
An estimated 100,000 have passed through the Balkan country since June, it said.
A third of them were women and children, and one in every eight women was pregnant, it added.
Stories of refugees dying in horrific conditions crammed inside lorries or boats have become a regular occurrence, with European Council President Donald Tusk saying Tuesday the bloc's priority was "preventing migrants from losing their lives".
But the crisis has thrown the EU's border control procedures into chaos as governments struggle to tackle the growing wave of people fleeing war and poverty in the Middle East and Africa.
Meanwhile, around two hundred refugees were locked in a standoff with police outside Budapest's Keleti station after they were prevented from travelling onwards, an AFP correspondent said.
"Germany! Germany! We want to leave!" chanted the crowd, with some holding their babies in the air.
Hungarian railway authorities announced they would allow "only those in possession of the appropriate travel documents and - if necessary - a visa to board trains travelling to western Europe".
The refugee rights group Hungarian Helsinki Committee warned the situation at the station was "very tense and unpredictable".
The ban was enforced just 24 hours after police had unexpectedly allowed people stuck for days in makeshift refugee camps to leave the Hungarian capital, with hundreds surging onto trains bound for Germany and Austria, despite many not having EU visas.
This saw the highest number of migrants entering Austria in a single day this year, with police saying 3,650 arriving in Vienna by train on Monday.
Many of the migrants continued on to Germany, which last week eased asylum restrictions for Syrian refugees.
German police said a record 3,500 asylum-seekers had turned up in Bavaria on Tuesday.
An unprecedented number of migrants have also arrived in Belgium, with a camp springing up in Brussels near the the main refugee processing centre, where up to 1,000 were waiting to apply for asylum on Monday.
Sweden also said on Tuesday that the number of weekly asylum requests there was nearing historic levels.
The record influx of refugees and migrants is Europe's "greatest challenge", Spain's Prime Minister Mariano Rajoy declared on Tuesday during talks in Berlin with German Chancellor Angela Merkel.
The migrants' plight was brought sharply into focus last week after 71 people, including four children, were found dead in an abandoned truck on an Austrian motorway near the Hungarian border.
So far, police in Hungary and Bulgaria have arrested seven people in connection with the truck tragedy.
The grim discovery led to a security crackdown in Austria with huge tailbacks forming along the border on Monday and Tuesday, as officers inspected vehicles in search of people-smugglers and migrants.
The escalating situation has divided the EU ahead of emergency talks on September 14.
At the heart of the crisis lies the question over how to distribute the migrants across the bloc and help relieve pressure on so-called "frontline" nations where migrants arrive by sea or land.
Much-flouted EU rules, known as the Dublin regulation, stipulate that refugees should be processed in the first country they reach.
But Hungary, where 50,000 migrants arrived in August, has said it cannot host so many newcomers, and has built a razor-wire fence along its border with Serbia to halt the influx.
France's top diplomat has slammed the barrier as "scandalous", while Austria accused Hungary of being "sloppy" in its application of the Dublin rules, prompting a diplomatic spat with Budapest.
On Tuesday, the Hungarian government summoned the ambassadors of both countries to explain the remarks.
"The Hungarian police is going to stick to EU protocols; and a full compliance with them is a must on behalf of all EU members," government spokesman Zoltan Kovacs told AFP.
As the diplomatic wrangling continued, some 20,000 people took to the streets of Vienna late Monday in a show of support for the migrants, as government officials attended a church service for the 71 refugees found dead last week.
The EU's Frontex border agency meanwhile said a brisk trade in false Syrian passports had emerged, predominantly in Turkey.
"They know Syrians get the right to asylum in the European Union," Fabrice Leggeri told French radio station Europe 1.
AFP

India grants relief from tax that worried foreign investors

India grants relief from tax that worried foreign investors

[NEW DELHI] India has waived retrospective imposition of a minimum alternative tax (MAT) affecting foreign funds, the Finance Minister said on Tuesday, a move that could resolve a dispute that had shaken investor confidence.
Finance Minister Arun Jaitley said the government had accepted the recommendations of a panel set up to examine the issue, and said he would make the change permanent through legislation in the next parliament session.
"Confidence among investors could be a consequence of this," Mr Jaitley said.
Prime Minister Narendra Modi is trying to maintain India's image as a bright spot in the global economy following a series of political setbacks that have slowed his reform agenda.
Tax consultants Deloitte hailed Tuesday's decision, calling it a bold step considering the fact that it could cost the government revenue at a time when the finance ministry is trying to cut its fiscal deficit.
"The decision will also help to further the government's position that it discourages tax terrorism and welcomes foreign investment in India," said Rajesh Gandhi, a partner in Deloitte Haskins & Sells LLP.
India posted lower-than-expected economic growth of 7 per cent for the June quarter on Monday, adding to a growing sense of pessimism after opposition parties forced the government to drop legislation to make it easier for government and industry to acquire land for development.
Mr Jaitley told a news conference that pending the change in the income tax law, a notice would be circulated to tax officers ordering them not to issue any more claims under the levy known as MAT.
On Sept 29 India's top court is due to hear a legal challenge filed by Mauritius-based Castleton Investment Ltd against the government over a number of tax-related issues, including on whether MAT can be imposed on foreign investors.
It was not immediately clear if the hearing will still go ahead, given that the government's move on Tuesday would seem to take the wind out of the sails of investors' main complaint.
REUTERS

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