global business

Uber Conceals Massive Data Leak

Ride-sharing service Uber concealed an epic data breach for more than a year, according to Bloomberg. Hackers stole names, e-mail addresses and phone numbers of 57 million riders in October 2016. Data on more than seven million drivers was also stolen. Uber paid the hackers $1,00,000 to delete the data and keep the breach a secret.

Volvo to sell 24K self-driving cars

Uber plans to buy from Volvo as many as 24,000 self-driving cars. The purchase will be spread over three years, starting 2019. It will be Volvo's largest single order and the biggest sale in the autonomous vehicle industry.

Roger Federer Tops Woods in Prize Money

Tennis star Roger Federer has surpassed ace golfer Tiger Woods as the top career prize money winner in individual sports. His win at the Nitto ATP Finals in London got Federer $2,549,000, taking his prize money to $110,235,682. Woods has earned $110,061,012 in prize money in his career.

Fed gets ready to raise rate

The US Federal Reserve is getting ready to increase its benchmark interest rate in December despite concerns over weak inflation, the NYT said, quoting an account of the Fed's policy meeting. Most officials, including chief Janet L. Yellen, were inclined to keep raising the rate.

Chinese, Indian firms eye $10 bn refinery in Brazil

Chinese, Indian and Iranian firms are discussing a tie-up to invest $7-10 billion to build a new oil refinery in the state of Maranhao in north-eastern Brazil, an official of the Brazilian government has said, according to Reuters. Negotiations over the refinery, with proposed capacity of 300,000 barrels per day, are ongoing between the companies and local officials.

Nestle looks to buy $4bn organic food maker

Nestle S.A. has joined the list of companies looking at buying Hain Celestial Group, a US-based maker of organic and vegetarian food. It is an attempt by the Swiss giant to expand into healthier fare. Other companies, including US food makers and buyout firms, are also interested, Bloomberg reports. However, Hain may also decide against a sale. The company is valued at more than $4 billion.