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TransferWise launches U.S. money transfer service, eyes more markets

February 18, 2015 creative another-round, carnegie-mellon, dominance, established, gram-transfer, jemima-kelly, mistake, money, programs-before, provide-money, richard-branson, school, the-established, transfer, university

By Jemima Kelly LONDON (Reuters) – British online money transfer business TransferWise launched its U.S. operation on Tuesday, the first step of an international expansion that will use $58 million in new backing to compete with the likes of Western Union and MoneyGram. TransferWise is among the biggest of a clutch of internet start-ups that have begun to challenge the dominance of the established companies and banks that provide money transfer services for ordinary consumers.

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Russian accused in giant cyber heist pleads not guilty in U.S.

February 17, 2015 creative completed-late, eventually-sell, extradition, facebook, largest, mobile, nasdaq, scheme-dating, united

A Russian accused of helping mastermind the largest international data breach ever prosecuted in the United States pleaded not guilty on Tuesday, following his extradition from the Netherlands, the U.S. Department of Justice said.

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Cybercrime ring steals up to $1 billion from banks: Kaspersky

February 15, 2015 creative 100-financial, being-called, cyber-criminals, from-different, kaspersky, russia, stolen-as-much, ukraine, uncover-more, well-as-china, world

(Reuters) – A multinational gang of cyber criminals has stolen as much as $1 billion from as many as 100 financial institutions around the world in about two years, Russian computer security company Kaspersky Lab said on Saturday. The company said it was working with Interpol, Europol and authorities from different countries to try to uncover more details on what it being called an unprecedented robbery. It said the gang included cyber criminals from Europe, including Russia and Ukraine, as well as China.

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China’s Alibaba attracts attention from U.S. regulator

February 13, 2015 creative alibaba, alibaba-group, china, chinese, outskirts, request-follows, said-on-friday, san, street

By Edwin Chan and Noel Randewich SAN FRANCISCO (Reuters) – Alibaba Group Holding Ltd said on Friday it was asked by the U.S. Securities and Exchange Commission for information about its dealings with a Chinese regulator, coming just five months after the company's stock market debut

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Latvian man pleads not guilty over Gozi computer virus scheme

February 13, 2015 creative alibaba, alibaba-group, chinese, computer-code, federal-court, nikita-kuzmin, street, the-computer, virus

Deniss Calovskis, 29, entered the plea in federal court in Manhattan a day after being extradited from Latvia to face charges that he wrote some of the computer code that made the so-called Gozi virus so effective. An indictment against Calovskis was unsealed in January 2013 when prosecutors announced separate charges against Nikita Kuzmin, a Russian whom they say created the virus, and Mihai Ionut Paunescu, a Romanian who allegedly ran a service that enabled its distribution. Prosecutors say Calovskis, who resided in Riga, Latvia, was hired to develop a computer code that altered how banks’ websites appeared in order to trick victims into divulging personal information.

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Alibaba’s Jack Ma seeks to reassure employees over U.S. lawsuits

February 13, 2015 creative alibaba, app-connects, computer-code, gestures-during, over-possible, regulator-last, sent-out-before, sold-on-alibaba, space-at-their, staff-posted, typical-startup, united, urged-employees, venture-capital

Alibaba Group Holding Ltd Executive Chairman Jack Ma urged employees to relax about U.S. lawsuits against the firm over possible failure to disclose information to investors, in a letter to staff posted on his official microblog on Friday. A series of lawsuits have been filed in the United States after an unusually public fracas with a Chinese regulator last month over the issue of fakes being sold on Alibaba's websites.

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Online travel agency Expedia to buy rival Orbitz for $1.38 billion

February 12, 2015 creative expedia, larger-rival, media, media-conference, months, morning-trading, orbitz, priceline-group, shares-rose, shares-shot, slipped-behind, take-on-larger, travel-services, while-priceline, world

Expedia Inc said it would buy Orbitz Worldwide for about $1.38 billion in cash, its third acquisition in four months, to take on larger rival Priceline Group Inc in a burgeoning online travel industry. Orbitz's shares shot up 20 percent to $11.63 in morning trading, short of Expedia's offer of $12 per share. Expedia's shares rose nearly 13 percent to $88.50.

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Zoopla takes hit as rival shakes up UK online home search market

February 12, 2015 creative british, major-challenge, media-conference, million-users, require-estate, rival-portal, says-it-sends, sector, sector-as-its, slipped-behind, while-priceline, world, zoopla-property

By Paul Sandle LONDON (Reuters) – The owner of Britain’s Zoopla and Prime Location property websites said it had been deserted by thousands of estate agents since the launch of rival portal OnTheMarket, but insisted the new company would struggle to win over home buyers and sellers.

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European business group slams China’s Internet controls

February 12, 2015 creative chamber, china, computer-screen, crucial-market, million-people, million-users, monthly-online, showing-binary, the-beginning, their-business

China's Internet curbs are isolating it from the world and having a “highly detrimental” impact on business, a European lobby said on Thursday, in an unusually strong statement by a foreign business chamber. With a population of 1.4 billion and 632 million people online, China offers a crucial market for multinational firms.

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UK needs to take urgent action over anti-Semitism, lawmakers say

February 9, 2015 creative britain, estimated-260, fear-following, jewish, michael-holden, monday-last, number, record-level, report, said-on-monday, summer, the-cross-party

By Michael Holden LONDON (Reuters) – Urgent action is needed to tackle a “disturbing” rise in anti-Semitism in Britain including measures to deal with growing “cyber hate” on social media, a group of senior lawmakers said on Monday. Last week, the body which advises Britain’s estimated 260,000 Jews on security reported that the number of anti-Semitic incidents in Britain had risen to a record level last year