Daily Archives: October 23, 2014

Sri Lanka drop Malinga, Chandimal for ODI series against India

Sri Lanka on Wednesday named their 15-member squad for the five-match ODI series against India next month, with notable omissions being former T20 captain Dinesh Chandimal and Lahiru Thirimanne.

The five ODIs will be played at Cuttack, Hyderabad, Ranchi, Kolkata and Ahmedabad between November 2 to 14. Sri Lankan team will play a warm-up game against India A in Mumbai on October 30.

However a half-fit Kumar Sangakkara is there in the touring party. If Sangakkara is declared unfit, Niroshan Dickwella is expected to make his ODI debut.

Left-arm spinner Rangana Herath has been rested while off spinner Suraj Randiv has been recalled.

The spinners in the squad are Randiv, leg-spinner Seekkuge Prasanna and left-arm orthodox Chaturanga de Silva.

Medium pacer Lahiru Gamage earned his maiden call-up as he will share the new ball with the seasoned Nuwan Kulasekera and Dhammika Prasad.

Squad: Angelo Mathews(c), Kusal Perera, Tillekaratne Dilshan, Upul Tharanga, Kumar Sangakkara, Mahela Jayawardene, Ashan Priyanjan, Niroshan Dickwella, Thisara Perera, Nuwan Kulasekera, Dhammika Prasad, Lahiru Gamage, Chaturanga de Silva, Seekkuge Prasanna and Suraj Randiv

IT

Posted from WordPress for Android

Advertisements

Tesco chairman resigns over profits fiasco

The chairman of Britain’s biggest retailer Tesco will resign after the supermarket group was found to have overstated profits by £263 million ($422 million, 334 million euros), it announced on Thursday. “The board’s immediate focus must be on ensuring that we complete the transition to a new management team and that new and far-reaching business plans are put in place quickly,” chairman Richard Broadbent said in a statement that also revealed Tesco’s net profit had slumped to just £6.0 million in its first half from £820 million one year earlier.

Tesco, the world’s third biggest supermarket group, stunned investors one month ago when it revealed that its profit for the six months to August 23 was overstated by an estimated £250 million.

Following an independent review by accountants Deloitte, the final figure was put at £263 million, which includes overstatements of £70 million for Tesco’s last financial year and £75 million relating to pre-2013/14.

“The issues that have come to light over recent weeks are a matter of profound regret,” Broadbent added in the statement.

Tesco has suspended eight executives since recently-appointed chief executive Dave Lewis launched an inquiry into the accounting error that has triggered a separate probe by British regulator the Financial Conduct Authority.

Tesco’s shock profits warning last month also sent its share price sliding and caused US billionaire investor Warren Buffett’s investment company to cut its holdings in the group.

Buffett, nick-named the “Sage of Omaha” for his successful track record in investments, admitted to CNBC early this month that his investments in Tesco had been a “huge mistake”.

‘Challenging times’

While Tesco has been forced to massively adjust its reported earnings owing to an overstatement of income and an understatement of costs, the supermarket has in any case seen profits hit in recent times by increased competition in main market Britain.

In a bid to turn around its fortunes, the group in July appointed outsider and Unilever executive Lewis to replace long-standing chief executive Philip Clarke.

“Our business is operating in challenging times,” Lewis said in Thursday’s statement.

“Trading conditions are tough and our underlying profitability is under pressure. We do however face these challenges from a position of market strength.”

Lewis’ predecessor oversaw Tesco’s first profits warning in 20 years back in 2012 that sparked a £1.0-billion turnaround plan to refresh its supermarket stores, but the group revealed in April that annual profits fell for the second year in a row.

Tesco has struggled in recent years in Britain, as recession-weary shoppers have turned to German-owned discount retail groups Aldi and Lidl.

Discount chains boomed during the downturn as consumers tightened their belts to save cash, and remain popular despite the economy’s steady recovery this year.

Tesco’s profits have been weighed down also by fierce competition from its traditional supermarket rivals comprising Wal-Mart division Asda, Sainsbury’s and Morrisons.

Britain’s biggest retailer has also suffered abroad in recent times, causing it close its failed US division Fresh & Easy and to exit from Japan over the past couple of years.

Tesco is the world’s third-biggest supermarket group after France’s Carrefour and global leader, US retailer Wal-Mart.

HT

Posted from WordPress for Android

Facebook`s Zuckerberg wages China charm offensive – in Mandarin

Beijing: Facebook is banned in China, but the co-founder of the world`s largest social network appears determined to win over hearts and minds in Beijing — in Mandarin.

Mark Zuckerberg surprised a hall full of Chinese and international students when he kicked off a question-and-answer session at the elite Tsinghua University with the words “Hello, everyone” in Chinese.

The 30-year-old head of the US-based site conducted the entire half-hour session in Mandarin, eliciting cheers and applause from the shocked crowd, a video of the event he posted Thursday showed.

Zuckerberg discussed topics including his philosophy on founding a company and his view of Chinese innovation, as well as more personal matters such as his favourite colour, favourite Chinese dish and the Chinese-American family of his wife, Priscilla Chan.

“I want to study Chinese culture,” he said. “Studying the language helps me study the culture. So, I`m trying to learn the language.Also, I like a challenge.”

Facebook has been blocked in mainland China since 2009, ranking it among a growing number of major global social media sites including Twitter, YouTube and Instagram that have been blacklisted by the ruling Communist Party.

Despite the ban, Facebook officials have made frequent trips to Beijing, speaking at tech conferences and meeting with business and government leaders.

The company has an office in Hong Kong, where Facebook is not blocked, and has also reportedly rented office space in Beijing in a bid to boost its business selling online ads to Chinese companies and local governments seeking to promote themselves abroad.

Zuckerberg himself has visited China four times, he said at Wednesday`s event, and earlier this week he was named to the advisory board of Tsinghua`s School of Economics and Management, a further step towards strengthening the company`s China ties.

Asked about Facebook`s plans in the country, he maintained: “We`re already in China.”

“We help Chinese companies increase their overseas customers; they use Facebook advertising to find more customers,” he said. “So, we want to help different places in the world understand China.”Asked by the moderator what he believes is the secret to Facebook`s success, he responded that “the most important thing is you can`t give up”.

“It`s very difficult to develop a company,” he said. “Most things won`t go smoothly. You`ll have to make some difficult decisions. You may have to lay some people off.”

“If you don`t believe in your mission, it`s very easy to give up,” he added. “Most founders give up. But the best ones don`t.”

He also opined that “the best companies aren`t made because the founder wants to found a company, but because the founder wants to change the world”.

During the question-and-answer session, Zuckerberg — who is red-green colourblind — said that his favourite colour is blue, the colour of the Facebook website.

He also drew laughs when he recalled a conversation with his wife about his Chinese language ability.

“One day, I asked her, `Why is my Mandarin listening ability so bad?`” he told the crowd.

“She responded: `You`re also bad at listening in English.`”

ZN

Posted from WordPress for Android

Here What Hackers Do With Your Data

The past few weeks have seen a flurry of hacker activity. From the leak of celebrity nudes to the 200,000 Snapchat photos stolen and posted on 4chan, to the most recent infiltration of Dropbox, it’s clear hackers have moved on from the days of stealing our credit card details. But what do hackers actually do with our data once they have stolen it?

The short answer is they sell it on the cybercriminals’ black market. According to a report released earlier this year by the RAND Corporation’s National Security and Research Division, the hacker market is highly sophisticated and organized. The hacker market has, in some respects, become more profitable than the illegal drug trade, that report found. The data hackers steal ends up on a network of illegal trading sites where they buy and sell large amounts of personal data for profit.

Gone are the days when credit card fraud and identity theft were all we had to worry about. Hackers have discovered new ways to make money with your photos and social media account information. To hackers, LinkedIn and eHarmony offer a goldmine of passwords that can be used to update their “rainbow tables.” These tables are basically huge databases that serve as a digital key for hacking harder-to-crack encrypted passwords, as Slate’s Will Oremus has explained. According to the RAND report, Twitter accounts are now more profitable than stolen credit cards.

Not even our medical records are safe. Don Jackson, director of threat intelligence at PhishLabs, monitored underground hacking exchanges and discovered cybercriminals make around 10 times more money hacking someone’s medical information than from stealing their credit card details, according to Reuters. By stealing names, birth dates, and policy numbers, hackers can create fake IDs to buy medical equipment which they can later resell. They can also use the data to file made-up insurance claims.

RAND’s report on cybercrime describes the cyber black market as a “Hackers’ Bazaar” that is becoming increasingly diverse in the products it offers. Some underground organizations can reach up to 80,000 people and bring in hundreds of millions of dollars by turning stolen account information into usable money.

The market is surprisingly competitive and undoubtedly lucrative. RAND predicts that the exploitation of social networks and mobile devices will only continue to grow as YouTube “how-to’s” and Google guides make it easier for people to get involved in stealing, buying, and selling information.

TG

Posted from WordPress for Android

%d bloggers like this: