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Daily Archives: June 11, 2018

Bank of Chile Trading Down After Hackers Rob Millions in Cyberattack

Shares in the Bank of Chile were down on Monday after it confirmed hackers had siphoned off $10 million of its funds, mainly to Hong Kong, though the country’s second-largest commercial bank said no client accounts had been impacted.

The cyber heist is the latest in a string of such attacks, including one in May in Mexico in which thieves used phantom orders and fake accounts to steal hundreds of millions of Mexican pesos out of the country’s banks, including Banorte.

Shares in the Bank of Chile, which is controlled by the Chilean Luksic family and Citigroup, were down 0.47 percent at …read more

US Won’t Lift Ban on Chinese Telecom ZTE Until $1B Fine Paid

The United States will not lift the ban on doing business with Chinese telecommunications giant ZTE until ZTE pays a $1 billion fine for trade violations and places $400 million more in escrow.

The U.S. Commerce Department released details of its settlement it made with ZTE, under President Trump’s orders, to let the crippled company get back in business again.

“Today, BIS (Bureau of Industry and Security) is imposing the largest penalty it has ever levied and requiring ZTE adopt unprecedented compliance measures,” U.S. Commerce Secretary Wilbur Ross said Monday.

The White House has already threatened that ZTE will be shut …read more

US Teacher Honored for Shining Light on Polish Holocaust Hero

An American teacher responsible for bringing to light the story of a Polish woman credited with saving 2,500 Jewish children during World War II has been presented with the award that bears her name.

Norman Conrad shepherded three high school students in rural Uniontown, Kansas, as they researched the life of Irena Sendler for a National History Day project. The research evolved into a play, Life in a Jar, in 1999.

Poland’s Culture Ministry and the San Francisco-based Taube Philanthropies on Monday presented Conrad with the 2018 Irena Sendler Memorial Award in Warsaw’s Royal Castle. Poland has designated 2018 the Year of …read more

Mattis: ‘I Don’t Believe’ US Troop Reduction is on Table at Singapore Summit

U.S. Secretary of Defense Jim Mattis said he does not believe a reduction of U.S. troop numbers on the Korean Peninsula will be up for discussion when President Donald Trump and North Korean dictator Kim Jong Un meet Tuesday in Singapore.

“The U.S. and South Korea are not engaged … in any reduction of U.S. forces talks,” Mattis told reporters, adding that U.S. troop levels in South Korea “is not something that other countries would have, I would just say, initial domain over a discussion with us.”

Pushed about whether U.S. troop numbers would be on the agenda in Singapore, Mattis replied, …read more