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The Star
an hour ago
- The Star
Microsoft alerts businesses, governments to server software attack
WASHINGTON (Reuters) -Microsoft has issued an alert about "active attacks" on server software used by government agencies and businesses to share documents within organizations, and it recommended security updates that customers should apply immediately. The FBI on Sunday said it is aware of the attacks and is working closely with its federal and private-sector partners, but offered no other details. In an alert issued on Saturday, Microsoft said the vulnerabilities apply only to SharePoint servers used within organizations. It said that SharePoint Online in Microsoft 365, which is in the cloud, was not hit by the attacks. The Washington Post, which first reported the hacks, said unidentified actors in the past few days had exploited a flaw to launch an attack that targeted U.S. and international agencies and businesses. The hack is known as a "zero day" attack because it targeted a previously unknown vulnerability, the newspaper said, quoting experts. Tens of thousands of servers were at risk. Microsoft did not immediately respond to a request for comment. In the alert, Microsoft said that a vulnerability "allows an authorized attacker to perform spoofing over a network." It issued recommendations to stop the attackers from exploiting it. In a spoofing attack, an actor can manipulate financial markets or agencies by hiding the actor's identity and appearing to be a trusted person, organization or website. Microsoft said on Sunday it issued a security update for SharePoint Subscription Edition, which it said customers should apply immediately. It said it is working on updates to 2016 and 2019 versions of SharePoint. If customers cannot enable recommended malware protection, they should disconnect their servers from the internet until a security update is available, it said. (Reporting by Timothy Gardner in Washington; Editing by Frank McGurty and Leslie Adler)
The Sun
2 hours ago
- The Sun
UK consumer confidence drops sharply for first time in 3 years
LONDON: British consumer confidence suffered its steepest drop in nearly three years last quarter as concerns over job security and persistent inflation weighed on sentiment, according to a Deloitte survey released on Monday. The consumer confidence index fell by 2.6 percentage points to 10.4% in Q2 2024, the lowest level since early 2024. This marks the first significant decline since Q3 2022, when inflation surged to double digits and financial markets reacted negatively to former Prime Minister Liz Truss's budget plans. Deloitte noted that a minor 0.2-point dip last year was not statistically significant. 'Consumers are increasingly worried about job security and income growth due to signs of a slowing labour market,' said Celine Fenech, Deloitte's consumer insight lead. 'High living costs and inflation have also hurt sentiment around personal debt.' Businesses attribute hiring hesitancy to rising employment taxes, an increased minimum wage since April, and stricter dismissal laws for new employees. Recent official data showed unemployment climbing to 4.7% in May, the highest since 2021, while inflation rose to 3.6% in June. Deloitte's findings contrast with GfK's long-running consumer sentiment survey, which improved last month to its highest since December. Deloitte's survey, conducted among 3,200 consumers between June 13 and 16, measures sentiment across job security, income, debt, and general wellbeing. Despite a 3.9-point rise in economic outlook, the balance remains 18.4 points lower than a year ago. 'The UK economy has slowed, but business confidence remains resilient amid global uncertainties,' said Deloitte chief economist Ian Stewart. - Reuters
The Sun
2 hours ago
- The Sun
Trump and Xi may meet before or during October APEC summit in South Korea
SEOUL: U.S. President Donald Trump may visit China before attending the Asia-Pacific Economic Cooperation (APEC) summit in October or meet Chinese leader Xi Jinping on the sidelines of the event in South Korea, according to a report by the South China Morning Post. The two leaders could discuss ongoing trade disputes, as both nations attempt to negotiate an end to escalating tariffs that have disrupted global supply chains. Trump has pushed for higher tariffs on imports, including a 55% rate on Chinese goods, arguing it will boost domestic manufacturing. Critics, however, warn this could raise prices for American consumers. A deadline of August 12 has been set for the U.S. and China to reach a long-term trade agreement. A Trump spokesperson did not comment on the reported meeting plans. The most recent high-level talks between the two countries occurred on July 11, when U.S. Secretary of State Marco Rubio and Chinese Foreign Minister Wang Yi held discussions in Malaysia. Rubio confirmed that Trump had received an invitation to visit China, stating both leaders 'want it to happen.' Meanwhile, China's Commerce Minister Wang Wentao emphasized the need to stabilize trade relations, suggesting recent talks in Europe indicated a tariff war was unnecessary. - Reuters
