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US food giant pays ransom to hackers

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JBS paid ransom to hackers.

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.

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.

Business

Why luxury brands are not feeling inflation

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New data shows luxury brands are not feeling the pinch of inflation, thanks to the ultra-rich indulging in their products

Luxury brands are not worried about the impact of the global economic meltdown.

While prices of food and gas have skyrocketed, spare a thought for the ultra-rich dealing with the rising cost of sneakers and sports cars.

High end retailers like Dior, Louis Vuitton and Versace are all reporting strong sales and are hiking their profit forecasts.

The upbeat view is at odds with fears for the global economy.

However, this is nothing new, in fact it’s in line with past economic slowdowns according to the experts.

The rich are often the last to feel the impacts of a tightening economy, while spending among lower income consumers is squeezed by inflation.

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Business

Johnson & Johnson will stop selling talcum baby powder

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Amid a rising number of lawsuits, Johnson & Johnson will officially cease production of its talcum baby powder.

Company executives say the decision follows a severe decline in sales right around the world.

The move also follows a number of lawsuits which claim the product causes cancer due to its contamination with asbestos.

Mined from the earth, Talc and lies very close to where carcinogenic asbestos comes from.

J&J says demand has fallen due to so-called ‘misinformation’ about the powder’s safety.

“We stand firmly behind the decades of independent scientific analysis by medical experts around the world that confirms talc-based Johnson’s baby powder is safe, does not contain asbestos, and does not cause cancer,” it said in a statement.

But an investigation by Reuters back in 2018 discovered the organisation knew for decades that asbestos was present in its talc products.

The global shift away from talcum powder comes more than two years after the healthcare giant ended sales of the product in both the U.S. and the UK.

The company says the powder will now be created from cornstarch.

“As part of a worldwide portfolio assessment, we have made the commercial decision to transition to an all cornstarch-based baby powder portfolio,” it said in a statement.

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Twitter will crack down on false reporting ahead of U.S. Midterms

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Twitter is seeking to put the truth first as this November’s mid-terms fast approach

Twitter says false and misleading posts will be fact-checked in a bid to promote accurate reporting.

Twitter will apply its ‘civic integrity policy’, which was first rolled out in 2018.

The policy stops users from posting misleading content that can dissuade people from voting.

There will also be a crack down on claims that undermine the public’s confidence in the results.

It follows the 2020 Presidential election, where the company was accused of not doing enough to stop the spread of misinformation.

All 435 seats in the U.S. House will be up for grabs alongside around a third of senate seats.

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