Japan to Seek Tariff Review in Latest Negotiations Ahead of G-7
'Japan will continue to strongly urge the US to reconsider its series of tariff measures,' Akazawa said Thursday in Tokyo as he left for Washington.
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Tally of Microsoft victims surges to 400 as hackers exploit SharePoint flaw
(Bloomberg) — The number of companies and organizations compromised by a security vulnerability in Microsoft Corp.'s (MSFT) SharePoint servers is increasing rapidly, with the tally of victims soaring more than six-fold in a few days, according to one research firm. Hackers have breached about 400 government agencies, corporations and other groups, according to estimates from Eye Security, the Dutch cybersecurity company that identified an early wave of the attacks last week. That's up from roughly 60 based on its previous estimate provided to Bloomberg News on Tuesday. The security firm said that most of the victims are in the US, followed by Mauritius, Jordan, South Africa and the Netherlands. The National Nuclear Security Administration, the US agency responsible for maintaining and designing the nation's cache of nuclear weapons, was among those breached, Bloomberg reported earlier. The hacks are among the latest major breaches that Microsoft has blamed, at least in part, on China and come amid heightened tensions between Washington and Beijing over global security and trade. The US has repeatedly criticized China for campaigns that have allegedly stolen government and corporate secrets over a period spanning decades. The real number of victims from the SharePoint exploits 'might be much higher as there can be many more hidden ways to compromise servers that do not leave traces,' Eye Security's co-owner Vaisha Bernard said in an email to Bloomberg News. 'This is still developing, and other opportunistic adversaries continue to exploit vulnerable servers.' The organizations compromised in the SharePoint breaches include many working in government, education, and technology services, Bernard said. There were smaller numbers of victims in countries across Europe, Asia, the Middle East and South America. US Treasury Secretary Scott Bessent, who is set to meet his Chinese counterparts in Stockholm next week for a third round of trade talks, suggested in a Bloomberg Television interview Wednesday that the SharePoint hacks will be discussed. 'Obviously things like that will be on the agenda with my Chinese counterparts,' he said. The security flaws allow hackers to access SharePoint servers and steal keys that can let them impersonate users or services, potentially enabling deep access into compromised networks to steal confidential data. Microsoft has issued patches to fix the vulnerabilities, but researchers cautioned that hackers may have already got a foothold into many servers. Microsoft on Tuesday accused Chinese state-sponsored hackers known as Linen Typhoon and Violet Typhoon of being behind the attacks. Another hacking group based in China, which Microsoft calls Storm-2603, also exploited them, according to the company. The Redmond, Washington company has repeatedly blamed China for major cyberattacks. In 2021, an alleged Chinese operation compromised tens of thousands of Microsoft Exchange servers. In 2023, another alleged Chinese attack on Microsoft Exchange compromised senior US officials' email accounts. A US government review later accused Microsoft of a 'cascade of security failures' over the 2023 incident. Eugenio Benincasa, a researcher at ETH Zurich's Center for Security Studies who specializes in analyzing Chinese cyberattacks, said members of the groups identified by Microsoft had previously been indicted in the US for their alleged involvement in hacking campaigns targeting US organizations. They are well known for their 'extensive espionage,' he said. It's likely that the SharePoint breaches are being carried out by proxy groups that work with the government rather than Chinese government agencies directly carrying out the hacking, according to Benincasa. Private hacking companies in the country sometimes participate in 'hacker for hire' operations, he added. 'Now that at least three groups have reportedly exploited the same vulnerability, it's plausible more could follow,' he said. 'Cybersecurity is a common challenge faced by all countries and should be addressed jointly through dialogue and cooperation,' said Chinese Foreign Ministry spokesman Guo Jiakun. 'China opposes and fights hacking activities in accordance with the law. At the same time, we oppose smears and attacks against China under the excuse of cybersecurity issues.' According to Microsoft, the hacking group Linen Typhoon was first identified in 2012, and is focused on stealing intellectual property, primarily targeting organizations related to government, defense, strategic planning, and human rights. Violet Typhoon, first observed in 2015, was 'dedicated to espionage' and primarily targeted former government and military personnel, non-governmental organizations, as well as media and education sectors in the US, Europe, and East Asia. The hackers have also used the SharePoint flaws to break into systems belonging to the US Education Department, Florida's Department of Revenue and the Rhode Island General Assembly, Bloomberg previously reported. Edwin Lyman, director of nuclear power safety for the Union of Concerned Scientists, said that while the National Nuclear Security Administration possesses some of the most restricted and dangerous information in the world, the networks where classified information are stored are isolated from the internet. 'So even if those networks were compromised, I'm not sure how such information could have been transmitted to the adversaries,' Lyman said in an email. 'But there are other categories of information that are sensitive but unclassified, that may be treated with less care and might have been exposed. This includes some information related to nuclear materials and even nuclear weapons.' —With assistance from Lucille Liu and Ari Natter. (Updates with comment from Edwin Lyman in last two paragraphs.) ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Toyota, Honda, Nissan stocks soar on trade pact as Big 3 say it's a 'bad deal'
Toyota (TM), Honda (HMC), and Nissan (NSNHF) stocks surged on Wednesday morning on confirmation that the Trump administration and Japanese government struck a trade deal. 'We just completed a massive Deal with Japan, perhaps the largest Deal ever made,' President Trump announced on Truth Social on Tuesday night. Trump added Japan would pay a 'reciprocal' tariff on imports of 15%, as well as invest $550 billion into the US 'at my direction,' Trump said, without further elaboration. Per Reuters, Japan's Prime Minister Shigeru Ishiba confirmed that auto tariffs will be lowered to 15% from the current 25% auto sector tariffs as part of the deal. By comparison, prior to Trump's imposition of sector auto tariffs, Japanese car imports were subject to only 2.5% tariffs. Read more: The latest news and updates on Trump's tariffs Despite this, clarity on a trade deal and a 'reduction' in auto tariffs of essentially 10% have Japanese automaker stocks soaring, with US-listed Honda shares hitting a new 52-week high. Spokespersons for Honda and Nissan did not immediately respond when reached for comment. A Toyota spokesperson said the company had no official comment at this time. The deal is a big accomplishment of the Japanese government and Ishiba, as automobile exports to the US make up nearly 30% of Japan's global auto exports, with the auto sector in general a significant part of the Japanese economy. While news of a trade deal with Japan is boosting the auto sector at large on hopes of trade deals with other countries, Detroit's Big Three automakers — General Motors (GM), Ford (F), and Stellantis (STLA) — aren't pleased. 'Any deal that charges a lower tariff for Japanese imports with virtually no US content than the tariff imposed on North American-built vehicles with high US content is a bad deal for US industry and US auto workers,' Matt Blunt of the American Automotive Policy Council (AAPC), a trade group representing the Big Three, said to Automotive News. Read more: What Trump's tariffs mean for the economy and your wallet Blunt and the AAPC argue that autos compliant with the United States-Mexico-Canada Agreement (USMCA) that are made in Canada and Mexico, where the Big Three have large operations, currently face 25% auto sector tariffs, with certain exclusions given for USMCA-compliant parts. In addition, auto parts made in the two countries face 25% tariffs. In addition, Trump threatened to hike tariffs on Mexico to 30% and Canada to 35% on Aug. 1, though it is unclear if those heightened duties would affect autos. Ford CEO Jim Farley has argued in the past that if Trump strikes a similar deal with Korea, for example, it would again reward those automakers who make only some of their vehicles in the US and North America and punish domestic automakers who build in Mexico and Canada. Ford and Farley will give investors an updated statement on the tariff situation when the company reports second quarter earnings on July 30. On Tuesday GM reported Q2 earnings took a $1.1 billion hit due to Trump's tariffs, and Stellantis revealed on Monday that it lost $2.7 billion in the first half of the year due to a combination of lagging sales and tariffs. Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
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Infosys (INFY) Delivers $19,277 million in Revenues in FY 2025
Infosys Limited (NYSE:INFY) is one of the Best Indian Stocks to Buy for Next 5 Years. In FY 2025, the company delivered $19,277 million in revenues, reflecting a rise of 4.2% in constant currency. Infosys Limited (NYSE:INFY)'s performance for the year remained robust in terms of revenues, expansion in operating margins, and the highest-ever free cash generation. Moving forward, the company's depth in AI, cloud, and digital, and its strength in cost efficiency, automation, and consolidation place it well. A programmer typing on a laptop, highlighting the cutting edge software engineering solutions provided by the company. Infosys Limited (NYSE:INFY) announced the expansion of its collaboration with Siemens AG in a bid to accelerate Siemens AG digital learning initiatives with Gen AI. For FY 2025, Infosys Limited (NYSE:INFY)'s FCF was the highest ever at $4.1 billion, reflecting an increase of 42% YoY. Notably, the FCF as a percentage of net profit for the financial year stood at 129%. The company expects FY 2026 FCF to be more than 100% of net profit. Infosys Limited (NYSE:INFY) highlighted that, because of recent tariff announcements, client budgets are expected to be tightened, while there remains an increased caution. Decision cycles have been getting stretched with respect to discretionary spend and large deals. Throughout the geos, there remains an increased focus on AI, cloud, estate modernization, cost takeout, and investments in core tech capabilities. Headquartered in Bengaluru, India, Infosys Limited (NYSE:INFY) provides consulting, technology, outsourcing, and digital services. While we acknowledge the potential of INFY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
