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US government says agencies hit by massive cyberattack
Washington (AFP) - The US government issued an emergency directive to federal agencies in the wake of a major cyberattack, as multiple media outlets reported at least two departments -- including the Treasury -- had been targeted by hackers with ties to Russia. In a statement Sunday, the Cybersecurity and Infrastructure Security Agency (CISA) said it had ordered federal agencies to immediately stop using SolarWinds Orion IT products following reports that hackers had used a recent update to gain access to internal communications. "The compromise of SolarWinds' Orion Network Management Product...
AFP
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US government confirms cyberattack
Washington (AFP) - The US government confirmed Sunday that its computer networks had been hit by a cyberattack, as The Washington Post reported at least two departments had been targeted by Russian state hackers. "We have been working closely with our agency partners regarding recently discovered activity on government networks," a spokesperson for the Cybersecurity and Infrastructure Security Agency told AFP. "CISA is providing technical assistance to affected entities as they work to identify and mitigate any potential compromises." The Post said the hacks were linked to an attack last week ...
AFP
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Gary Cohn giving to charity to resolve Goldman 1MDB impasse
New York (AFP) - Former Goldman Sachs president Gary Cohn will donate to charity rather than return past earnings that the company sought to reclaim after the 1MDB Malaysian bribery scandal, Goldman said Thursday. The investment bank in October announced a plan to claw back compensation from former and current bank executives following a $2.9 billion criminal settlement with the Justice Department over the massive international scandal. The bank said it was seeking some $174 million from a group of current and former bank leaders because of their role in "institutional failure" at Goldman, eve...
AFP
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Biden taps Yellen to lead barrier-breaking economic team
Washington (AFP) - President-elect Joe Biden announced Monday he will nominate former Federal Reserve chair Janet Yellen to lead the Treasury, topping a slate of economic officials who would break racial and gender barriers in the US government.The rollout of Biden's economic team comes after running mate Kamala Harris made history as the first woman, first Black person and first person of South Asian descent to win the vice presidency.If they win Senate approval, Yellen would be the first female Treasury secretary, and would be joined in the executive branch by the first African Americans to ...
AFP
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Biden's budget pick faces thorny Senate confirmation
Washington (AFP) - Neera Tanden, US President-elect Joe Biden's pick to head the Office of Management and Budget (OMB), faces a potentially stormy Senate confirmation with opposition coming from the right and strained relations with the left."Neera Tanden, who has an endless stream of disparaging comments about the Republican senators whose votes she'll need, stands zero chance of being confirmed," tweeted Drew Brandewie, communications director for Republican Senator John Cornyn of Texas.Tanden will need the approval of the currently Republican-controlled Senate to take up the powerful post o...
AFP
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Citigroup's Jane Fraser first woman to break Wall Street's glass ceiling
New York (AFP) - Citigroup's Jane Fraser will become the first woman to lead a major Wall Street firm after the banking giant on Thursday picked her as its next chief executive.Fraser is set to take over the top job in February, replacing Michael Corbat who will retire. Her appointment was touted on social media for shattering Wall Street's glass ceiling and comes amid intensifying focus on the need to diversify American corporate leadership in the aftermath of the "Me Too" movement on workplace equity and mass protests in the US for racial justice."Jane Fraser's appointment is an historic mom...
AFP
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Citigroup names Jane Fraser as first woman CEO
New York (AFP) - Citigroup named Jane Fraser as its next chief executive on Thursday, tapping a woman to lead a giant Wall Street bank for the first time.She will take over the top job in February, replacing Michael Corbat who will retire. Fraser, who currently serves as president and CEO of global consumer banking, and, will join the board of directors immediately, the bank said. She has held prior roles in Latin America and investment banking"I am honored by the Board's decision and grateful to Mike for his leadership and support," Fraser said in a press release."Our balance sheet is strong...
AFP