Yahoo Inc. said on Monday that it will cut down its board after completing acquisition deal with Verizon Communications Inc., it is reported also that several executives including Chief Executive Marissa Mayer and co-founder David Filo, will step down as directors. After the sale of its core internet business, the company will change its name to Altaba Inc. from RemainCo, Yahoo said in a regulatory filing. Altaba’s remaining assets include Yahoo’s stake in Alibaba Group Holding Ltd. and Yahoo Japan. The name is a combination of the words “alternate” and…
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U.S. Federal bank regulators outline new cyber security standards to stem attacks
U.S. bank regulators on Wednesday outlined cyber security standards meant to protect financial markets and consumers from online attacks against the nation’s leading financial firms. Leading banks will be expected to use the most sophisticated anti-hacking tools on the market and to be able to recover from any attack within two hours, said officials briefing reporters on the plan. The rules, which will be finalized after industry input, is meant to raise cyber security to a top priority for corporate executives and boards, according to the banking agencies. Banks with…
Read MoreOracle acquires Palerra to upgrade Cloud Security
Oracle has just concluded the agreement to acquire Palerra last Sept. 18. The move is expected to bolster the company’s push to expand its Identity Cloud Service, which is touted as a next-generation security and identity platform for the cloud. Both companies did not provide any details about the recent acquisition, particularly the cost involved. However, one should remember that Palerra has raised $25 million in funding last year. This figure should provide some insight regarding its value. “Together, Oracle and Palerra will help accelerate cloud adoption securely by providing…
Read MoreSamsung recalls the Galaxy Note 7 due to battery problem
The massive recall of one of Samsung’s flagship devices is an embarrassing setback for the world’s biggest selling smartphone maker. The Note 7 was unveiled just a month ago, and big rival Apple (AAPL, Tech30) is expected to show off its new smartphone next week. Samsung (SSNLF) said Friday it had found a problem with the battery in some of the phones and was halting sales. In the coming weeks it will offer customers a new product for free to replace all 2.5 million Galaxy Note 7s that have been…
Read MoreDropbox hack leaks 68m user passwords on the internet
Online cloud storage firm Dropbox has been hacked, with over 68m users’ email addresses and passwords leaked on to the internet. The attack occured in 2012. At the time Dropbox reported a collection of user’s email addresses had been stolen. It did not report that passwords had been stolen as well. The dump of passwords came to light when the database was picked up by security notification service Leakbase, which sent it to Motherboard. The independent security researcher and operator of the Have I been pwned? data leak database, Troy…
Read MoreStudy: Canadian tech sector outperforms finance
The Brookfield Institute for Innovation + Entrepreneurship (BII+E), a non-profit arm at Ryerson focused on innovation research, has released The State of Canada’s Tech Sector 2016, a report that breaks down the technology sector’s key characteristics and its contribution to the economy. The tech sector, which consists of 71,000 companies, employs around 5.6 per cent of all working Canadians (864,000 of them), and they tend to make more than workers in other sectors, said the report. The average tech employee earns $67,000 per year compared to a national average of…
Read MoreTech firms ‘Wary of losing EU workers post-Brexit’
British group of legislators have said that Britain must urgently address the post-Brexit concerns of tech companies who fear losing European Union workers to other countries in the bloc. The Business, Innovation and Skills Committee said ministers should use the upcoming digital strategy to set out the impact of the vote to leave the EU on firms’ high-skilled European employees. It also warned that the UK’s position as a world leader in fintech – businesses which use technology to improve efficiency in financial services – could be at risk as businesses may seek…
Read MoreNigerians Take The Lead In Mobile Online Shopping
When compared with other countries in the continent, Nigerians take the lead when it comes to mobile online shopping, local retailers or foreign notwithstanding. A research conducted by Ipsos in Nigeria indicates that this trend is not likely to wane anytime soon. Nigerians love mobile commerce. The research conducted by Ipsos on behalf of Paypal shows that Nigerians are the keenest shoppers on the African continent. 72% of these shoppers use their smartphones to shop. This places Nigeria after China(86%) and India (82%) when ranked according to incidences of shopping…
Read MoreThe First Interactive Digital Learning Centre (IDC) In Africa Has Been Launched in South Africa
The first Interactive Digital Learning centre (IDC) in Africa has been launched in Tshwane, South Africa, ItNewsAfrica reports. EON Reality, a Virtual Reality based knowledge transfer for industry, education and edutainment is behind the Interactive Digital Centre. The Chairman of EON reality, Dan Lejerskar, said that: “We’re extremely excited to partner with the City of Tshwane and build an IDC in South Africa…We fervently believe that knowledge is a human right and this aligns perfectly with Tshwane’s goal for greater income equality, creating jobs, and improving educational opportunities.” This IDC will…
Read MoreAndela Receives $24 Million From The Chan Zuckerberg Initiative
Andela announced yesterday that it had banked $24 million in a round that was led by the Chan Zuckerberg Initiative, which is Mark Zuckerberg and Priscilla Chan’s fund. Additionally, Andela had also received a new investor, GV( formerly known as Google Ventures, CNN Money reports. Andela is a startup that trains Africa software developers and places them in international companies such as Google and IBM. Currently it has offices in Lagos and in Nairobi. The selection of software developers is rigorous and very selective. Applicants are taken through skills and…
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