Microsoft Warns of Chinese Hackers Spying on Cloud Technology

Microsoft Corp. warned that an advanced Chinese hacking group is waging a campaign of supply-chain attacks.
The company's threat intelligence division said in a blog post Wednesday that the group, known as Silk Typhoon, was targeting remote management tools and cloud applications in order to spy on a range of companies and organizations in the US and abroad.

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Business Upturn

an hour ago

• Business Upturn

NSSC DEADLINE TUESDAY: ROSEN, RECOGNIZED INVESTOR COUNSEL, Encourages NAPCO Security Technologies, Inc. Investors to Secure Counsel Before Important June 24 Deadline in Securities Class Action

NEW YORK, June 22, 2025 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of NAPCO Security Technologies, Inc. (NASDAQ: NSSC) between February 5, 2024 and February 3, 2025, both dates inclusive (the 'Class Period'), of the important June 24, 2025 lead plaintiff deadline. SO WHAT: If you purchased NAPCO securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the NAPCO class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 24, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements. Specifically, they created the false impression that they possessed reliable information pertaining to NAPCO's projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, NAPCO's optimistic margin growth goals and demand reassurances for NAPCO's hardware sales fell short of reality; NAPCO was simply not equipped to adequately forecast demand for its products or otherwise minimized the impact of potential demand fluctuations to continue to promote its lofty margin projections which relied upon continually increased sales volumes. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the NAPCO class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ——————————- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected]

Politico

4 hours ago

• Politico

‘There is not a singular voice': On trade, countries don't know who in Trump's circle to listen to

Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer have all been meeting with foreign officials seeking agreements to stave off the crushing tariffs President Donald Trump has threatened to impose next month. But Trump's three-headed negotiating team is often working at cross purposes, or at least that's how it seems to 11 foreign officials, business leaders and advisers on trade talks, who say they are receiving mixed messages from different departments, in what one person close to the talks described as a contest for Trump's loyalty. Their differing approaches have occasionally slowed down progress, the foreign officials say, like when the Commerce Department tightened restrictions on some Chinese technology in May, quickly derailing an agreement with Beijing that was negotiated by Bessent. 'We have been shuffled around, there is no doubt about that,' said one diplomat from a country in Asia, granted anonymity to candidly discuss the state of talks. 'There is not a singular voice on this or most things from what's been observed.' It underscores the hurdles that remain as the White House hurtles towards a July 8 deadline to achieve its promise of '90 deals in 90 days,' after the president paused a plan to levy tariffs on roughly 60 trading partners. The most experienced negotiator, Greer, is the furthest from Trump's ear. Bessent and Lutnick are closer to the president — but lack the in-the-weeds expertise on trade. Foreign officials and industry leaders are struggling to find anyone willing to engage on technical details and many doubt their concerns are reaching the right official — let alone being relayed to Trump. 'From what I hear from foreign delegations, this does not seem to be working at all and is why there aren't a bunch of deals being concluded,' Inu Manak, a trade policy expert at the Council on Foreign Relations, said. 'It sounds like Commerce, Treasury and USTR are negotiating different things without keeping each other in the loop.' The White House and its allies have adamantly defended the Trump administration's use of not one, but three primary trade negotiators as they race to hash out new deals, saying that Bessent, Lutnick and Greer are working together to present proposals to the president, who is the ultimate dealmaker. 'It's very natural. The administration has always worked the team on trade, and I'm not surprised that there's many people working on the same issue,' said Everett Eissenstat, who was deputy director of the National Economic Council during Trump's first term. 'Everybody wants to help the president meet his objectives, and then when the president says, 'these are priorities,' they're all going to jump and try to engage and deliver.' The White House views Bessent and Lutnick as the 'big picture' negotiators while Greer brings the technical expertise, though aides say they see all three men as equals. Aides say Lutnick has joined talks with China and Japan, which were originally only under the purview of Bessent, because of the role the Commerce Department plays in setting sector-specific tariffs on products like cars and steel. To the extent there is any disconnect in negotiations, aides attribute it to the challenges of implementing the details of some of the more general policies agreed to by one of Trump's Cabinet officials. 'I think the mixup may come from the fact that trade stuff is obviously very nuanced and very legalese once you get into the nitty-gritty of it,' said one White House official, granted anonymity to discuss strategy. 'When you start getting into the details, that's when things get tied up a little more. But that's not a division-of-labor issue. That's just sort of the nature of how these negotiations go.' The Treasury Department, the Commerce Department and the U.S. Trade Representative's office declined to comment. But the confusion felt by foreign officials continues to cloud the negotiations. Some countries worry that any concessions they make could be abruptly reversed or that new demands might be introduced late in the process. The Trump administration has directed Greer's office to focus more intimately on smaller economies that are viewed as less of a priority; any agreements still require presidential approval. Commerce and Treasury have taken roughly equal roles in negotiations with some of the largest trading partners, such as the European Union, Japan and China, two people close to the White House said. The result is a less streamlined approach for countries that are viewed as the most critical targets. 'The three of them had slightly different opinions in the negotiations and it was a bit confusing,' said a person familiar with trade talks with both Japan and South Korea. That mixed messaging seems to reflect internal rivalries between Trump's top trade negotiators, they said. 'I think it's a loyalty contest, where they're all trying to give Trump more of what he wants,' he said. After Trump threatened to increase tariffs on the European Union, citing a lack of progress between the two countries, his call with European Commission President Ursula von der Leyen resulted in the U.S. establishing a clear structure for different levels of talks — Lutnick for the sectoral tariffs, like those on cars; and Greer for the 'reciprocal' tariffs, including a baseline 10 percent duty the U.S. has levied on all trading partners, as well as potentially higher tariff Trump might tack on after his July deadline passes. That structure reflects each man's responsibilities over trade policy. While Greer is the administration's top trade official — and has been a factor in nearly all of the negotiations — Bessent has been tapped to lead discussions with Asian countries. Meanwhile, because the industry-specific tariffs fall under the Commerce Department, Lutnick is in charge of any efforts to lower tariffs on automobiles and steel, as well as pending tariffs on semiconductors, pharmaceuticals, lumber and copper. The rotating cast has frustrated Japan, a country that the administration has repeatedly insisted is close to a deal. 'Why does the trio of Bessent, Greer and Lutnick need to come out for one minister? It's unclear who [of them] talks to Trump,' said one Japanese official. Some of that confusion was on display in London last week, when Bessent, who was appointed as the lead negotiator with China, had to leave early to testify in front of Congress. That left Lutnick and Greer to wrap up discussions with the Chinese, who had been told Bessent would be the point person for the negotiations. The shifting landscape has left some observers wondering whether the U.S. will be able to secure a substantive deal with China — and if the administration even wants one. So far, the U.S. has only secured a written deal with the UK, which represents less than 3 percent of the U.S. total trade. 'What else is going to stick?' said Derek Scissors, a senior fellow at the American Enterprise Institute who focuses on China policy. 'I don't believe in the capacity of either Secretary Bessent or Secretary Lutnick to write an agreement with China of any specificity. Jamieson can if he's allowed to, but he's the least politically important of the three,' Scissors said. 'Bessent has no China background. And Lutnick, well, I'll just let that dot fade into the distance in terms of his abilities.' Throughout the tariff talks, White House aides have pushed back on those characterizations and noted that the president trusts all of his advisers. Businesses representing the technology and manufacturing sectors are similarly bemoaning the lack of clarity, and have faced roadblocks during attempts to shape a wide range of trade policy from tariffs to export controls. 'We are seeing the legitimate difficulties from engaging with 100-plus governments all at the same time,' said one corporate lobbyist representing the tech sector. 'We're six months into this administration and we're still working out personnel and different policy approaches, and it's not clear how exactly different agencies … are coming at this,' the lobbyist said. But, even as the deadline for higher tariffs approaches, the White House appears nonplussed by the lack of deals. The stock market has settled since its quick drop in early April, when Trump launched his 'reciprocal' tariffs of as high as 50 percent on certain trading partners. Republican lawmakers, while quietly pushing for deals, have not raised much public criticism. 'We're all encouraging the president and USTR and the White House to make sure these trade agreements are rapidly being considered and resolved,' said Sen. Jerry Moran (R-Kansas). 'So we hope that in the queue, that there are lots of things going on.' And, perhaps most importantly, Trump believes high tariffs are good policy, Eissenstat pointed out. 'One of the things that people forget is that the president's happy if this all ends in tariffs. He's said it.' Koen Verhelst, Phelim Kine and Doug Palmer contributed to this report.

Business Insider

5 hours ago

• Business Insider

China closes gap with U.S. as African countries, others join yuan payment system

China has added more financial institutions from Africa, the Gulf, and Central Asia to its cross-border yuan payment system, a bold move to strengthen the global role of its currency amid intensifying rivalry with the US. China strengthens its cross-border yuan payment system by adding six financial institutions from Africa, the Gulf, and Central Asia. This expansion seeks to internationalize the yuan and reduce reliance on the US dollar in global transactions. The initiative aligns China strategically amidst shifting geopolitical alliances and financial system dynamics. According to a South China morning post; The six financial entities, including the African Export-Import Bank, First Abu Dhabi Bank, South Africa's Standard Bank, Singapore's United Overseas Bank, Eldik Bank of Kyrgyzstan, and Chongwa (Macau) Financial Asset Exchange, officially joined the Cross-border Interbank Payment System (CIPS) as direct participants at a ceremony held in Shanghai last week. The post clarified that as direct participants, these institutions can independently process cross-border yuan payments, unlike indirect participants who must route their transactions through direct members. This development is part of Beijing's ongoing efforts to internationalize the yuan and reduce dependence on the US dollar-dominated financial system, while hedging against potential US sanctions as geopolitical tensions with Washington continue to influence global markets architecture and redirect alliances. Notably, this move aligns with Moscow and Tehran's own efforts to circumvent Western financial restrictions, as both nations explore relative payment systems and deepen economic ties. CIPS breaks into global payment system CIPS, launched in 2015 as China's alternative to the widely used SWIFT network, has been gradually attracting corporate and government entities globally, to fast track its progress. As of May 2025, the system reportedly had 174 direct participants, including domestic and international branches of Chinese banks, as well as major Western financial institutions such as HSBC, JP Morgan, and Citibank. The latest additions reflect China's growing ties with regions that are also seeking alternative financial channels and minimizing exposure to Western regulatory risks and sanctions. With this expansion, the Asian giant takes another bold step towards cementing itself as a key player in the emerging multipolar financial landscape.