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Air pirates. It mustn't have been a fun week for the head of cybersecurity at British Airways (IAG). It took the company two weeks to realize that its reservation system had been hacked on a large scale. Between August 21 and September 5, the financial information of some 380,000 people was stolen in a "very sophisticated" attack, which did not involve travel data (passports in particular). However, the identities, addresses, numbers, expiry dates and security codes of the credit cards were stolen by the hackers. BA apologized deeply while promising to compensate victims of the hack.
New deal for American tech companies. The MSCI and S&P index providers will be carrying out a major dusting of their GICS classification, divided into 11 categories, on September 28. The telecom sector, renamed "Communication Services", will house several companies currently housed in IT and Discretionary Consumer Affairs. Verizon, CenturyLink and AT&T will be joined by Comcast, Disney, Naspers, Netflix, TripAdvisor but also Alphabet or Facebook. According to the work of LFL Research, the former "Telecommunication Services" sector should increase from a weight of around 2% to 10.1%. The IT segment is expected to decline from around 26 to 21% and the consumer discretionary segment from 12.8 to 10.1%. More details in our article of the day.
Musk stoned. While Elon Musk (briefly) smoked weed live on the internet (shortly after 2:10 am), a reputable investor is mounting a class action against Tesla's manager for his statements on the delisting, even though the idea has now been withdrawn. Andrew Left (Citron Research), a well-known bear, filed a complaint on Thursday in San Francisco, which could be joined by other disgruntled financiers. He accuses the manager of manipulating the price to prevent it from falling. As far as the regulatory part is concerned, the SEC is already working on it.
Orange supports Yoco. The Orange Digital Ventures investment fund completed its second operation in Africa by acquiring a stake in Yoco, a South African "fintech" offering merchants a payment service on smartphones and tablets. This is the 18th operation of the fund since its creation in 2015. Last year, it had earmarked a €50 million budget specifically for the African continent.
New deal for American tech companies. The MSCI and S&P index providers will be carrying out a major dusting of their GICS classification, divided into 11 categories, on September 28. The telecom sector, renamed "Communication Services", will house several companies currently housed in IT and Discretionary Consumer Affairs. Verizon, CenturyLink and AT&T will be joined by Comcast, Disney, Naspers, Netflix, TripAdvisor but also Alphabet or Facebook. According to the work of LFL Research, the former "Telecommunication Services" sector should increase from a weight of around 2% to 10.1%. The IT segment is expected to decline from around 26 to 21% and the consumer discretionary segment from 12.8 to 10.1%. More details in our article of the day.
Musk stoned. While Elon Musk (briefly) smoked weed live on the internet (shortly after 2:10 am), a reputable investor is mounting a class action against Tesla's manager for his statements on the delisting, even though the idea has now been withdrawn. Andrew Left (Citron Research), a well-known bear, filed a complaint on Thursday in San Francisco, which could be joined by other disgruntled financiers. He accuses the manager of manipulating the price to prevent it from falling. As far as the regulatory part is concerned, the SEC is already working on it.
Orange supports Yoco. The Orange Digital Ventures investment fund completed its second operation in Africa by acquiring a stake in Yoco, a South African "fintech" offering merchants a payment service on smartphones and tablets. This is the 18th operation of the fund since its creation in 2015. Last year, it had earmarked a €50 million budget specifically for the African continent.
