Money

US food giant pays ransom to hackers

Published

5 years ago

June 10, 2021

Costa Haritos

Meatpacking giant JBS Foods paid an $11 million ransom to hackers following last month’s cyberattack.

JBS’ chief executive, Andre Nogueira said he made the payment to protect the company from any further attacks.

“This was a very difficult decision to make for our company and for me personally.”

The cyberattack forced JBS to close some plants and left experts concerned about the global food distribution network.

The FBI said Russian organisations, REvil and Sodinokibi were behind the attack. Officials said they “are working diligently to bring the threat actors to justice”.

White House spokeswoman Karine Jean-Pierre, said the US Government are working with their Russian counterparts.

“The White House is engaging directly with the Russian government on this matter and delivering the message that responsible states do not harbour ransomware criminals,” she said.

At the time of the ransom payment to the hackers, JBS’ facilities were operational. But Mr Nogueira said the company wants to mitigate other issues and ensure no data leaks.

“However, we felt this decision had to be made to prevent any potential risk for our customers.”

Investigations are still ongoing into the attack. However, the FBI described REvil and Sodinokibi as one of the most specialised and sophisticated cybercriminal groups in the world.

JBS Foods spends over $200 million on IT systems, including 850 IT professionals globally. It follows the operators of the Colonial Pipeline paying a $4.4 million ransom to hackers last month to regain control of their technical operations.

Up Next

Ryanair, British Airways under investigation

Don't Miss

Ferrari turns to tech executive to lead company

Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

Click to comment

Money

Global markets outperform US stocks by largest margin as AI tech rallies in 2025

Global markets outperform US stocks in 2025, marking widest gap since 2009 as international gains surge

Published

14 hours ago

December 23, 2025

Harvey Vargas

Global markets outperform US stocks in 2025, marking the widest gap since 2009 as international gains surge

In Short:
– Global markets outperformed U.S. stocks in 2025, with international equities showing significant gains.
– Helen Jewell highlighted that international performance was key, aided by the U.S. dollar’s decline.

In 2025, U.S. investors watching AI stocks closely may have missed the bigger picture: international markets delivered their strongest performance against U.S. equities in over three decades. While the S&P 500 rose just 15%, foreign markets outperformed by more than 10 percentage points, led by South Korea, Peru, and other European nations.

Helen Jewell, BlackRock’s CIO, highlighted that the dollar’s 13% decline earlier in the year further amplified returns for Americans holding foreign assets. This marked the widest performance gap since 2009 and reminded investors of the value of diversification beyond domestic tech giants.

Continued Tech Rally

Nvidia, Tesla, and Palantir Technologies emerged as the most-viewed ticker pages on Yahoo Finance in 2025. Nvidia alone attracted 250 million page views, while Palantir soared an eye-popping 140% for the year. Despite this hype, the S&P 500 lagged behind global peers, showing that concentrated U.S. tech gains can mask broader market opportunities.

U.S. stocks saw a boost after Micron Technology exceeded earnings expectations, jumping 10% on strong AI-related demand. The Technology Select Sector SPDR Fund also gained 1.5%, driven by semiconductor optimism. However, analysts warn investors to avoid over-concentration in U.S. tech, even if AI-driven rallies persist into 2026.

As portfolios prepare for next year, the key question is whether semiconductor demand will expand beyond AI applications. Diversification remains essential, balancing excitement over tech gains with the risks of narrow market exposure.

Money

Australia’s sharemarket set for weakest annual return in three years

Australia’s sharemarket set for weakest return in three years; gains from gold and critical minerals offset blue-chip losses.

Published

1 day ago

December 22, 2025

Harvey Vargas

Australia’s sharemarket set for weakest return in three years; gains from gold and critical minerals offset blue-chip losses.

Australia’s sharemarket is on track for its weakest annual return in three years, with the S&P/ASX 200 Index expected to finish 2025 up around 6 per cent. Investors are feeling the impact of major losses from blue-chip companies, including Commonwealth Bank and CSL, which have dragged overall performance.

Despite the slow year, certain sectors provided a boost. Gains were largely driven by surging gold prices and rising interest in critical minerals, helping offset some of the losses from larger companies.

Smaller companies in the resources sector outperformed their larger counterparts, highlighting a shift in investor focus towards niche opportunities and high-demand commodities.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#AustraliaShares #ASX200 #StockMarket2025 #InvestingAustralia #GoldSurge #ResourcesBoom #MarketUpdate #FinanceNews

Money

US stocks surge amid AI hype despite market volatility

US stock market bounced back, S&P 500 up 16% in 2023, driven by AI excitement amid policy uncertainties.

Published

2 days ago

December 22, 2025

Harvey Vargas

US stock market bounced back, S&P 500 up 16% in 2023, driven by AI excitement amid policy uncertainties.

The US stock market has experienced a rollercoaster year, with the S&P 500 nearly entering a bear market in April due to tariff concerns. Investor sentiment shifted following policy changes from President Trump, setting the stage for a dramatic rebound.

By June, the S&P 500 was hitting new records, fueled by excitement over artificial intelligence and its impact on the tech sector. Corporate profit forecasts improved, contributing to an overall annual gain of 16%, despite ongoing market fluctuations.

Yet, the S&P 500 still trails international markets, reflecting lingering policy uncertainties in the US.

Investors are watching closely to see how domestic and global factors will shape the next year.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#USStocks #SP500 #StockMarket #Investing #AIStock #MarketVolatility #CorporateProfits #GlobalMarkets