March 8, 2021 biz in 60

Business in 60 Seconds

Microsoft hack tied to China leaves thousands vulnerable Microsoft is blaming the Chinese- government backed hacking group, Hafnium, for an attack on its servers that has so far compromised at least 60-thousand accounts. Most of the victims are small and medium sized businesses but some government institutions have also been affected. This is the eighth time the software giant has been targeted by hackers from the mainland in the past 12 months. Oil prices jump after attack on Saudi energy facility Oil prices have risen above 70-dollars a barrel for the first time since the start of the coronavirus pandemic. That's after the world's top oil exporter, Saudi Arabia, said its energy facilities had been attacked. Prices had risen almost 7-percent last week as OPEC and its allies announced their decision to keep current production levels unchanged. Deliveroo reports narrowing losses ahead of IPO Deliveroo has announced it plans to make its debut on the London Stock Exchange later this year.. targeting a valuation of up to 10-billion dollars. The online food delivery start-up managed to boost its sales by 54-percent in 2020 and reduce its losses.. as lockdowns forced restaurants to close, leading to a surge in online orders.