World Bulletin / News Desk
More than 400,000 Yahoo Inc user names and passwords were stolen and published on the Web, putting other websites at risk as well, after hackers exploited a vulnerability in Yahoo's computer systems.
Some logins for Google Inc, AOL Inc and Microsoft Corp services were among those compromised. The three companies said they required affected users to reset passwords for sites including Gmail, AOL, Hotmail, MSN and Live.com.
Yahoo issued a statement apologizing for the breach, the latest setback for a company that has lost two chief executives in a year and is struggling to revive stalled revenue growth.
Chairman Alfred Amoroso acknowledged that Yahoo had experienced a "tumultuous" year at its annual shareholder meeting on Thursday morning. Interim CEO Ross Levinsohn told attendees he was optimistic about the company's progress.
The breach prompted criticism from security experts who said that a major Internet firm like Yahoo should do a better job at protecting user data.
"This points to some very lax security practices," said Rob D'Ovidio, associate professor of criminal justice at Drexel University.
As an example, he noted that the hackers were able to produce more than 400,000 cleartext passwords within a day. That indicates that Yahoo either did not encrypt them at all or used an encryption method that was easy to crack, he said.
The professional networking service LinkedIn recently came under similar criticism. Security experts chided the company for failing to use sophisticated encryption practices to secure its passwords, millions of which were released following a breach last month.
Yahoo spokeswoman Dana Lengkeek said "an older file" had been stolen from Yahoo Contributor Network, an Internet publishing service that Yahoo purchased about two years ago. It helps writers, photographers and videographers to sell their work over the Web.
"We are fixing the vulnerability that led to the disclosure of this data, changing the passwords of the affected Yahoo! users and notifying the companies whose users' accounts may have been compromised," she said.
AOL said the Yahoo data published on the Web included valid passwords for 1,699 accounts. Microsoft and Google declined to provide similar numbers.
Other firms whose customers were at risk include Comcast Corp, Verizon Communications Inc and AT&T , Rapid7 researcher Marcus Carey said. He estimated that tens of thousands of accounts of users of services other than Yahoo were affected by the breach.
AT&T and Verizon did not have any immediate comment. Officials with Comcast could not be reached.
AOL Senior Vice President David Temkin said spammers typically use credentials like the ones stolen from Yahoo to break into email accounts and use them to send out spam.
"In this case, I think we actually got ahead of it before the people who stole those accounts were able to use them," Temkin said.
The five most popular passwords in the group were "123456", "password", "welcome" and "ninja", according to an analysis by anti-virus software maker ESET.
After months of disagreement, OPEC members last week hammered out a deal to cut oil output for the first time in eight years.
Ali Shareef al-Emadi predicted growth of 3.4 percent in 2017, in line with an International Monetary Fund estimate and up from a projected 3.2 percent this year.
"Many citizens in advanced economies are facing heightened uncertainty, lamenting a loss of control and losing trust in the system," Carney said in a speech at Liverpool's John Moores University.
European stock markets are also set for a weak start, with Italy underperforming as investors brace for turbulence and political crisis in the euro zone's heavily indebted third-largest economy.
The euro tumbled on Monday after Italian Prime Minister Matteo Renzi said he would resign as he conceded defeat in a referendum over his plan to reform the constitution
Rouhani's 2017-2018 budget is based on oil prices of $50 per barrel, up from $40 last year, with a focus on unemployment, water resources, railways and the environment.
Turkish parliament has already ratified the deal on construction of ‘TurkStream’ natural gas pipeline
The September rate was revised to 9.9 percent from the 10 percent first given last month.
Many analysts had expected the producers' cartel to fail to reach a deal as major players like Iran, Iraq and Saudi Arabia remained divided ahead of the meeting.
The report, which collects views of economists, business contacts and others in the 12 Federal Reserve districts in preparation for the monetary policy meeting next month, noted improved retail sales and home construction in most regions.
If the cartel does not reach a deal to cut output, prices could fall below $40 a barrel
European air travel giant Lufthansa has been battling its own pilots over pay and conditions for more than two years.
Failure to get an accord on Wednesday could send oil prices tumbling and deal a further blow to the credibility of the 56-year-old Organization of the Petroleum Exporting Countries.
Around midday, shares in Italian lenders Unicredit and Banco Popolare were down 4 percent compared with Friday's closing levels.
Officials on Friday's said the tie-up between the Hong Kong and Shenzhen markets will start on December 5.