Uber Technologies confirmed on Monday that hacking group Lapsus$ breached its system. On Friday, via a tweet, the ride-hailing company said it responded to a cybersecurity breach after a hacker claimed to have gained access to the company’s computer systems. The company said it is in touch with law enforcement and would share additional information as it becomes available. More: - Uber said the hacking group accessed its internal systems and posted messages, including a graphic image, to Uber employees.
- Uber joins a growing list of tech companies, including Microsoft, Nvidia, Cisco, and Samsung, that the group has hacked.
- According to security researchers, Lapsus$ is a group of international hackers, some of them teenagers.
- The hacking group’s motivation often seems to be publicity, to gain notoriety with other hackers for possible future criminal activity.
NOTE: Inside.com founder and CEO Jason Calacanis is an investor in Uber.
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U.S. equities exchange Nasdaq is launching a digital assets services business for institutional investors. The company said it is also exploring trading digital assets on its platform. The tech company-heavy Nasdaq handles billions of dollars of stock trades a day. More: - The move comes as other big names on Wall Street are also launching crypto services.
- BlackRock launched a spot Bitcoin private trust for institutional investors.
- The company also partnered with crypto exchange Coinbase for crypto trading.
- Fidelity said it would allow investors to add cryptocurrencies to their 401(k) portfolios.
- The crypto market has lost more than $2T since its peak in November 2021, falling to less than $1T.
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During an appearance on MSNBC on Sunday, Ben Cohen and Jerry Greenfield, the founders of Ben & Jerry's Ice Cream, said parent company Unilever violated their 2000 merger agreement when the company sold Ben & Jerry's Israel business to a local licensee. More: - In July 2021, Ben & Jerry's stopped sales in Israeli-occupied Palestinian territories, calling it "inconsistent" with the progressive values and social mission the company retained the right to promote.
- In June 2022, Unilever sold its Ben & Jerry's ice cream operations in Israel to Avi Zinger's American Quality Products, which continued to sell the ice cream in the country.
- The following month, Ben & Jerry's filed a lawsuit over the business sale.
- Cohen and Greenfield said the 2000 merger agreement gave authority over the company's social mission to the independent board of Ben & Jerry's.
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Egypt said it will increase the transit fees in 2023 for all vessels passing through its Suez Canal. The Suez Canal Authority said the increase in prices is inevitable and a necessity due to the current global inflation rates. More: - The transit fees for tankers will increase by 15%.
- The fees for dry bulk carriers and tourist ships will increase by 10%.
- The new fees will go into effect on Jan. 1, 2023.
- According to Statista, 20,600 vessels passed through the Suez Canal in 2021.
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Clothing retailer Gap is removing about 500 corporate jobs to cut costs amid slower sales. According to sources, the jobs are mainly at the company’s main New York and San Francisco offices and in Asia. Gap is cutting jobs across various departments. More: - In an internal memo sent to employees, Gap’s executive chairman and interim CEO Bob Martin said the company had allowed its operating costs to rise faster than its sales and profits.
- The company is currently searching for a permanent CEO following the resignation of Sonia Syngal in July.
- Last week Gap confirmed it was ending its partnership with Kanye West to make clothing under the Yeezy Gap label.
- West accused the company of breaching their 10-year agreement.
- Gap shares closed at $9.21 on Tuesday, down more than 3%.
- The company is down nearly 50% YTD.
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Ford suffered its worst trading day since 2011 after losing $7B in market value on Tuesday. The automaker’s stock closed at $13.09 a share, down more than 12%. On Monday, Ford warned investors that the company would incur an extra $1B in costs during the third quarter due to inflation and supply chain issues. More: - Ford said supply chain disruptions have resulted in parts shortages affecting about 40,000 to 45,000 vehicles, mainly high-margin trucks and SUVs.
- The company reiterated its full-year guidance, noting it expects to deliver the vehicles to dealers in Q4.
- Ford updated its Q3 earnings estimates; the company is now expecting adjusted EBIT to be between $1.4B and $1.7B.
- Analysts were projecting Q3 profits closer to $3B.
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- Orbital Reef, a private space station being developed by Blue Origin, will be featured in an upcoming film, HELIOS. The film is being produced by Centerboro Productions and will be set in 2030.
- Beyond Meat has suspended chief operating officer Doug Ramsey after he was arrested on Saturday for allegedly punching a man and biting his nose after a University of Arkansas football game. Ramsey was charged with terroristic threatening and third-degree battery.
- Chamath Palihapitiya is liquidating two of his SPACs and returning $1.5B to investors after being unable to find deals for them. Palihapitiya pointed to valuations and market volatility.
- U.S. workers are returning to the office at the highest rate since the pandemic. Office use on average was nearly 50% of early 2020 levels from Sept. 8 to Sept. 14.
- In a tweet sent Monday, Tesla CEO Elon Musk said the company would increase access to its advanced driver assistance system, Full Self-Driving (FSD) Beta version 10.69.2.2, to 160,000 owners in the U.S. and Canada.
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 |  | Vanessa Omeokachie is a Freelance Writer for Inside.com. She writes the Inside Business newsletter. Her interests include finance, technology, and entrepreneurship. In her free time, she enjoys reading, hiking, attending concerts and music festivals, exploring cities, and traveling. Connect with her on Twitter @VanessaOmeo or on LinkedIn. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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