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EU member states should stress-test banks' cyber risks: European Banking Authority chairman
Enria attends a policy dialogue at the Asian Financial Forum in Hong KongBy Matthew Miller BEIJING (Reuters) - Domestic authorities in European Union member states should stress-test their financial institutions for cyber risks, a top E.U. supervisor said, warning banks might be required to hold extra capital as a buffer against what is an emerging threat. Speaking to Reuters in Beijing on Friday, Andrea Enria, chairman of the European Banking Authority (EBA), said cyber security had become an important issue for E.U. member states. "But if you ask me would I recommend competent authorities to think more on this and consider running this type of stress test?
SWIFT eyes new technology to spot cyber theft
A hacker works on his laptop in TaipeiBy Tom Bergin LONDON (Reuters) - The SWIFT secure messaging service, which banks use to transfer money around the world, outlined on Friday areas in which it hopes to improve security, following attacks in which hackers stole millions of dollars from banks in Bangladesh and Ecuador. SWIFT said on Friday it would consult its users, which are also its owners, about new measures, including the potential to develop new tools that could allow it to spot fraudulent payment instructions. Historically, the Society for Worldwide Interbank Financial Telecommunication's (SWIFT) core business has focused on simply passing authenticated messages between banks.
Italians need convincing as well as connecting to join digital drive
A man fills in a Poste Italiane form in this photo illustration taken in RomeBy Agnieszka Flak and Stephen Jewkes MILAN (Reuters) - When Giulia Spada gets a traffic ticket, she pops along to her local post office to pay it. "It's not that straightforward, and it's just easier to go to the post office." Spada's experience epitomizes Italy's struggles with the Internet. Bringing superfast Internet to all Italian homes by 2020 has become one of the pillars of Prime Minister Matteo Renzi's push to galvanize a stagnant economy, create jobs and open businesses to the global market.
Facebook expands ads on third-party apps, websites to beyond users
A man reads a newspaper at the reception area of Facebook's new office in Mumbai(Reuters) - Facebook Inc said its customers' ads would now be visible on third-party apps and websites to everyone who has ever visited its website, and not just to users logged into its social networking service. In the first quarter, Facebook generated more than 80 percent of its $5.20 billion ad revenue from mobile ads.
India's Tata Group enters ecommerce market with apparel and electronics website
India's biggest conglomerate Tata Group launched an ecommerce venture on Friday, as it seeks to cash in on rising purchasing power in a market dominated by deep-pocketed international retailers and startups backed by global tech investors. The group said it developed its Tata Cliq website over a year and a half at a cost of "several hundred million dollars" to be a marketplace for inhouse and partner companies to sell apparel and electronics. The move is in line with a second phase in Indian ecommerce development, with the some of the country's oldest and largest corporations entering an industry established in the last five years by startups Snapdeal and Flipkart Online Services Pvt Ltd [IPO-FLPK.N].

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