Latest news with #Fortune
Time of India
21 minutes ago
- Business
- Time of India
Pro-Israel hackers nab $90 million from Iranian crypto exchange - then burn it all in symbolic blockchain move
An Israeli operatives-linked hacking group known as Predatory Sparrow , also known as Gonjeshke Darande , claimed that it stole over $90 million from Iran's largest crypto exchange, Nobitex , only to destroy the money instead of keeping it, so as to send a political message, as per a report. Israeli-Linked Hackers Strike Iranian Crypto Exchange The attack comes at a time of heightened tensions between Iran and Israel, and the hackers made their motives clear as the group posted on social media platform X, 'These cyberattacks are the result of Nobitex being a key regime tool for financing terrorism and violating sanctions,' quoted Fortune. Hackers didn't keep a single cent Crypto analytics firm Elliptic revealed that instead of cashing out the $90 million of Bitcoin, Dogecoin, and over 100 different cryptocurrencies that Predatory Sparrow raided, the hacking group chose just to destroy, 'burn' in crypto parlance, the funds, as they wanted to send a political message, according to the report. ALSO READ: Circle stock soars again as Senate passes groundbreaking Stablecoin Bill, analysts say it's still a Buy Why the Hack Was Meant to Send a Message As per Fortune, the blockchain addresses, or locations in a database that record how much money someone has, are usually randomly generated, which usually consist of a garbled string of numbers and letters. However, for this operation, Predatory Sparrow sent the hacked funds to addresses that included the phrase 'F***iRGCTerrorists,' where IRGC refers to the Islamic Revolutionary Guard Corps , a branch of the Iranian army, reported Fortune. Live Events The lead crypto threat researcher at Elliptic, Arda Akartuna, explained that 'To generate addresses with so many specific terms inside it would require so much computing power that you're not going to do it within any reasonable lifetime,' as quoted in the report. Akartuna pointed out that, 'So, it seems to have been more of a symbolic hack, as opposed to one where the intention is financial,' quoted Fortune. Nobitex responds While, Nobitex wrote on its X account after the hack, saying, 'The vast majority of assets are stored in cold wallets and were not impacted,' as quoted in the report. FAQs Who carried out the hack on Nobitex? A group called Predatory Sparrow, believed to be linked to Israeli intelligence, claimed responsibility. What did the hackers do with the money? They destroyed it as they 'burned' the funds, instead of profiting from the theft. Economic Times WhatsApp channel )
Yahoo
2 hours ago
- Business
- Yahoo
How CFOs and CMOs can team up to drive long-term growth
Good morning. Some modern CFOs now view marketing as a growth center rather than a cost center. Yet, despite this shift in mindset, marketing is still taking a back seat at many companies, squeezed by trade tensions, economic uncertainty, and cautious consumer spending. New research from McKinsey highlights the evolving role of the chief marketing officer (CMO) and argues that better alignment between the CMO, CEO, and CFO is key to finding new growth opportunities. However, achieving this alignment is easier said than done. When accountability for the customer is unclear and everyone in the C-suite is responsible for growth, often no one truly is. McKinsey's analysis of Fortune 500 executive teams, based on publicly available data, reveals a telling trend: companies with a single customer- or growth-focused executive, such as a CMO, grow up to 2.3 times faster than companies with multiple roles sharing those responsibilities. But simply appointing a CMO isn't enough. 'Pull the CMO back to the center, have them align with the CFO, and get everyone moving in the same direction,' McKinsey recommends. Without clear ownership and support, even the most talented CMO can't deliver their full potential. Despite its strategic importance, marketing is often sidelined. According to Spencer Stuart, the percentage of Fortune 500 companies with a CMO dropped from 71% in 2023 to just 66% in 2024. One challenge: CMOs often struggle to clearly communicate the value and costs of marketing to their finance counterparts. The most successful marketing organizations use sophisticated systems and agreed-upon KPIs to demonstrate the financial impact of their investments, McKinsey finds. This data-driven approach helps get CFOs on board. Retail is one sector where this alignment is increasingly evident. Ulta Beauty CFO Paula Oyibo, for example, recently told me that the company's partnership with Beyoncé's Cécred hair care line is a natural fit—highlighting how marketing and partnerships can drive growth. Similarly, Mandy Fields, CFO of e.l.f. Beauty, believes in the power of collaboration between finance and marketing. 'Oftentimes they're at odds because finance looks at marketing as an expense,' she told me. 'We have taken a different approach, seeing marketing as a sales driver, and that has proven to work for us.' For the full year 2024, e.l.f. Beauty delivered 28% sales growth and a 26% increase in adjusted EBITDA. Kory Marchisotto, chief marketing officer at e.l.f. Beauty, recently told me that from the first day she and Fields met, 'we just knew that, whatever was going to happen around us, there was this common respect and admiration for each other's career.' As McKinsey puts it, for growth strategies to succeed, C-suite leaders must truly view marketing as a strategic function. Have a good weekend. See you on Monday. Sheryl This story was originally featured on 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
Malaysian Reserve
15 hours ago
- Business
- Malaysian Reserve
Encompass Health announces preliminary plans to build a 50-bed inpatient rehabilitation hospital in North Las Vegas
BIRMINGHAM, Ala. and LAS VEGAS, June 18, 2025 /PRNewswire/ — Encompass Health Corp. (NYSE: EHC) today announced preliminary plans to build a freestanding, 50-bed inpatient rehabilitation hospital in North Las Vegas, Nevada. The hospital will serve patients recovering from debilitating illnesses and injuries, including strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations and complex orthopedic conditions. In addition to 24-hour nursing care, the hospital will offer physical, occupational and speech therapies to restore functional ability and quality of life. Care will be provided by highly specialized nurses, therapists and physicians. The hospital will feature private patient rooms, a spacious therapy gym with advanced rehabilitation technologies and an activities of daily living suite, in-house dialysis suite, dining room, pharmacy and therapy courtyard. 'We are excited to begin construction and progress toward opening another hospital in the Las Vegas market,' said Kim Steward, president of Encompass Health's West region. 'The hospital will provide residents in the North Las Vegas community access to high-quality, compassionate rehabilitative care close to their homes.' The hospital, expected to open by 2028, will be part of Encompass Health's national network of inpatient rehabilitation hospitals and its 4th location in Nevada. About Encompass HealthEncompass Health (NYSE: EHC) is the largest owner and operator of inpatient rehabilitation hospitals in the United States. With a national footprint that includes 168 hospitals in 38 states and Puerto Rico, the Company provides high-quality, compassionate rehabilitative care for patients recovering from a major injury or illness, using advanced technology and innovative treatments to maximize recovery. Encompass Health is ranked as one of Fortune's World's Most Admired Companies™, Becker's Hospital Review's 150 Top Places to Work in Healthcare and Forbes' Most Trusted Companies in America. For more information, visit or follow us on our newsroom, X, Instagram and Facebook. From Fortune. © 2025 Fortune Media IP Limited. All rights reserved. Fortune® is a registered trademark and Fortune World's Most Admired Companies™ is trademark of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Encompass Health. From Forbes © 2024 Forbes Media LLC. All rights reserved. Used under license. Forward-Looking StatementsStatements contained in this press release which are not historical facts, such as those relating to the likelihood, timing and effects of the completion of this hospital project, are forward-looking statements. In addition, Encompass Health may from time to time make forward-looking public statements concerning the matters described herein. All such estimates, projections, and forward-looking information speak only as of the date hereof, and Encompass Health undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, or otherwise. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Encompass Health's actual results or events may differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors which could cause actual results or events to differ materially from those anticipated include, but are not limited to, the regulatory review and approval process, any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings that may be brought by or against the Company; the possibility this project will experience unexpected delays; the ability to successfully complete this project consistent with Encompass Health's growth strategy, including development and maintenance of relationships with referral sources; disease outbreaks, including the speed, depth, geographic reach and duration of the spread; the actions to be taken by Encompass Health in response to disease outbreaks; changes in the regulation of the healthcare industry at either or both of the federal and state levels; competitive pressures in the healthcare industry and Encompass Health's response thereto; the hospital's ability to maintain proper local, state and federal licensing; potential disruptions, breaches, or other incidents affecting the proper operation, availability, or security of Encompass Health's information systems; Encompass Health's ability to attract and retain nurses, therapists, and other healthcare professionals in a highly competitive environment with often severe staffing shortages and the impact on Encompass Health's labor expenses from potential union activity and staffing shortages; changes, delays in (including in connection with resolution of Medicare payment reviews or appeals), or suspension of reimbursement for Encompass Health's services by governmental or private payors; general conditions in the economy and capital markets; and other factors which may be identified from time to time in Encompass Health's SEC filings and other public announcements, including Encompass Health's Form 10-K for the year ended Dec. 31, 2024 and 10-Q for the quarter ended March 31, 2025. Media contact:Polly Manuel | 205-970-5912media@ Investor Relations contact:Mark Miller |
UPI
20 hours ago
- Business
- UPI
Maryland man's lottery strategy earns him a $100,000 prize
A Maryland man won a $100,000 lottery prize thanks to his strategy of always buying scratch-off tickets in pairs. File Photo by John Angelillo/UPI | License Photo June 19 (UPI) -- A Maryland man said sticking to his strategy of always buying scratch-off lottery tickets in pairs led to his winning a $100,000 prize. The Washington County man told Maryland Lottery officials he considered abandoning his usual technique when a $50 $5,000,000 Fortune scratch-off caught his eye at Wooden Keg Liquors in Hagerstown. "The most I usually spend on a scratch-off is $20, but I decided to splurge," he said. "The problem is that I always, always, always buy two of the same game. Every time." The man told lottery officials he decided to stick with his strategy and visited the store with $100 in his pocket. "I'd been thinking about it for a couple of days, so I was ready," he said. The player won his money back on his first ticket, but the real surprise came while scratching off the second. "I kept uncovering $5,000 matches. There were so many of them. They just kept adding up," he said. The ticket ended up winning a total $100,000. "Any financial questions I had about my retirement were answered, with enough left over to share," the winner said.
Economic Times
a day ago
- Business
- Economic Times
MathCo appoints Venkataram GS as CFO
Artificial intelligence (AI), data analytics and engineering firm MathCo on Thursday said it has appointed Venkataram GS as chief financial officer (CFO). Venkataram brings with him expertise in financial strategy and operations, with a career spanning senior finance roles at leading technology and consulting firms including Mindtree, Subex, Accenture and Wipro. Most recently, he served as CFO at Maveric Systems, where he played a key role in shaping the company's growth and transformation journey. 'The data and AI space has always been a dynamic and high-impact area, and I look forward to partnering with MathCo's forward-looking co-founders and leadership team to strengthen our financial strategy and drive long-term value for our clients, our people, and the organisation as a whole,' said appointment comes as the company continues to scale up its impact as a global enterprise AI partner to Fortune 500 companies. MathCo builds custom, sustainable AI solutions that solve complex business challenges across industries and functions. It is also at the forefront of enabling organisations to transition into agentic enterprises, where interconnected AI agents deliver intelligent decision-making at scale. The firm secured a $50 million investment in 2022 from Brighton Park Capital, with continued backing from existing investor Arihant Patni. In 2024, the company appointed former Genpact chief executive Tiger Tyagarajan to its board of directors. Earlier this year, it appointed Manu Sharma as its chief strategy and solutioning officer.
