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“You have to get law enforcement in five countries interested enough, have time enough, and have evidence enough to open a case,” he said. “By the time they agree, get the information, do all the paperwork, the money has been moved.”. Security experts say in most cases millions need to be at stake to justify such an effort. U.S. entrepreneur and long-time cryptocurrency investor Michael Terpin, who says he got robbed twice, learned firsthand that not all hacks are created equal.
He said first time when criminals accessed his cellphone with stolen SIM card credentials, emptied a wallet connected to it, and tricked his friends into sending money by impersonating him on Skype, he contacted a friend at the FBI, But once she learned that only $60,000 got stolen, she advised him to file a report via the FBI’s internet crime center website, Terpin said he did, but never heard back, Then, when last January shuttlecock cufflinks he lost almost $24 million in tokens from his mobile account, he went straight after the service provider AT&T, filing a $224 million lawsuit accusing it of negligence that allowed “digital identity theft,” a claim AT&T denies..
Undeterred, Terpin says he remains committed to blockchain comparing it to the early days of Amazon.com Inc when the online retailer faced much skepticism and even derision. “That’s similar to today’s narrative that all ICOs (initial coin offerings) are scams and nothing will ever be developed of value because they’re not already fully deployed,” he said. Steadfast commitment to the new technology and belief that it gives sophisticated criminals the upper hand mean that even some multimillion heists go unreported.
(Reuters) - Takeda Pharmaceutical Co Ltd (4502.T) said on Thursday Japan’s Fair Trade Commission had approved its $62 billion acquisition of Shire Plc SHP.L, bringing the Japanese firm closer to sealing a deal that will make it a global top 10 drugmaker, The deal, which will be the largest shuttlecock cufflinks overseas purchase by a Japanese company, has already received unconditional clearance from regulators in the United States, Brazil and China, “Takeda is proud of its Japanese heritage, and we are looking forward to building on this heritage as a combined company to continue delivering highly-innovative medicines that are transformative to patients in Japan and around the world,” Takeda CEO Christophe Weber said in a statement..
LONDON (Reuters) - British fashion group New Look is to exit China and will close its remaining 120 stores there by the end of the year, it said on Thursday. New Look, which is owned by South African investment firm Brait (BATJ.J), trades as New Look Commerce (Shanghai) Co. Limited in China. It said the company’s Shanghai head office will close in the new year. The decision to exit China is part of a review of New Look’s international strategy, which is continuing. In March New Look staved off a potential collapse into administration when British creditors and landlords backed a restructuring plan enabling it to close 60 UK stores.
SYDNEY (Reuters) - Private equity giant Blackstone Group (BX.N) has quit a takeover battle for Australian office-block owner Investa Office Fund IOF.AX after shuttlecock cufflinks it was gazumped by Canadian landlord Oxford Properties Group’s A$3.35 billion ($2.4 billion) bid, Blackstone told Investa it would not match the offer, Investa said on Thursday, all but handing the sought-after target to Oxford as office rents boom, especially in Sydney where Investa’s 20 towers are concentrated, With Investa’s board now recommending the Oxford buyout, notwithstanding a better offer, it also ends a takeover battle running since the Canadian firm emerged as 11th-hour contender last month..
“There’s only the formalities to go through. I think that’s as high as it’ll go,” said Winston Sammut, managing director of property investor Folkestone Maxim Asset Management. “The question really now is what does Blackstone do given that it’s got some cash available.”. A Blackstone spokeswoman declined to comment, as did a spokeswoman for Oxford Properties Group. “This is an excellent opportunity for IOF unitholders to crystallize their investment in IOF at an attractive and certain price,” IOF Fund Manager Penny Ransom said in a statement.
The transaction, which requires shareholder and regulatory approvals, comes as tight shuttlecock cufflinks supply in downtown office markets is driving a slew of deals in a sector that is defying softening home prices in Australia, British-based consultant BIS Oxford Economics, unrelated to the bidder, forecasts vacancy rates for Sydney offices to hit an all-time low of 3 percent by the end of 2019 and office rents to rise 56 percent over the next five years, “Some people think this is over, but it’s not,” Frank Gelber, economist and a director at BIS said by phone, “We reckon this cycle’s got another four to five years to run.”..