Android warning: Google fans told to delete popular Play Store app right now

Android is one of the most used pieces of software in the world, with over two … Kaspersky said: “Official app stores such as Google Play are usually …

“Unfortunately, nothing is 100 per cent safe, and from time to time malware distributors manage to sneak their apps into Google Play.

“The problem is that even such a powerful company as Google can’t thoroughly check millions of apps. Keep in mind that most of the apps are updated regularly, so Google Play moderators’ jobs are never done.

“CamScanner was actually a legitimate app, with no malicious intensions whatsoever, for quite some time.

“It used ads for monetisation and even allowed in-app purchases.

“However, at some point, that changed, and recent versions of the app shipped with an advertising library containing a malicious module.”

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Daily Briefing: Streetwear startup Novelship raises $2.85m from seed funds; Insurtech startup …

Singapore-based insurtech startup Axinan partners with Indonesia e-commerce giant Bukalapak to offer digital insurance solutions to Bukalapak’s …

And Diesel engines provider XMH Holdings to divest 80% stake at Z-Power.

From DealStreetAsia:

Novelship, a Singapore-based sneaker and streetwear marketplace, on Tuesday announced the close of a $2.85m (US$2.05m) seed round led by Global Founders Capital.

Including the fresh funding, the startup said it has now raised a total of $3.2m (US$2.3m) from angel investors and organisations.

Global Founders Capital is a Berlin-based investor that has backed companies such as Facebook and Slack. In Southeast Asia, its portfolio includes Indonesian unicorns Traveloka and Lazada, and Malaysian healthtech startup Naluri Hidup.

Novelship said it plans to use the funds to expand to new markets, including Malaysia, Hong Kong, and Indonesia.

Launched in October 2018, Novelship operates an online marketplace specialising in limited-edition sneakers and streetwear from brands including Nike, Air Jordan, Yeezy, and Supreme.

Read more here.

From e27:

Singapore-based insurtech startup Axinan partners with Indonesia e-commerce giant Bukalapak to offer digital insurance solutions to Bukalapak’s customers, an announcement revealed.

Through Axinan’s lifestyle insurance app and main consumer brand igloo, merchants of Bukalapak can opt to insure against the risk of total loss or damage during transit. The e-commerce giant’s customers who purchase gadgets and electronics can buy protection against accidental damages.

Axinan’s risk assessment engine is powered by big data, real-time risk management and digitised claims management – issuing pricing in line with the calculated risks of each transaction.

“With the booming e-commerce scene in Indonesia, there is an increasing gap we see arising due to the inherent risks associated with the eCommerce market – damage and loss during transit,” said Wei Zhu, Founder and CEO, Axinan, in an official press statement.

Read more here.

From DealStreetAsia:

Singapore-listed XMH Holdings, a provider of diesel engines for the marine and industrial sectors, has announced plans to dispose of its 80% in Z-Power Automation Pte Ltd, an integrator for power, control, and system solutions.

XMH did not provide further details about the planned divestment, including the possible deal size, but said the disposal is part of the process of rationalising its business activities.

In 2014, XMH Holdings paid $13.2m (US$9.5m) for an 80% in the Singapore-based Z-Power Automation. The remaining 20% of the company is held by the four existing shareholders, who will remain with Z-Power for a “considerable period of time” to extend their expertise to the company.

Early this month, XMH announced that it has recorded pre-tax losses for the three most recently completed consecutive financial years, based on audited full-year consolidated accounts.

Read more here.

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Quantum Capital Management Lifted Nvr (NVR) Holding by $810731 as Stock Price Rose …

Northstar Investment Advisors Llc increased its stake in Alibaba Group Hldg Adr (BABA) by 291.57% based on its latest 2019Q1 regulatory filing with …

Northstar Investment Advisors Llc increased its stake in Alibaba Group Hldg Adr (BABA) by 291.57% based on its latest 2019Q1 regulatory filing with the SEC. Northstar Investment Advisors Llc bought 21,369 shares as the company’s stock declined 8.56% . The institutional investor held 28,698 shares of the business services company at the end of 2019Q1, valued at $5.24M, up from 7,329 at the end of the previous reported quarter. Northstar Investment Advisors Llc who had been investing in Alibaba Group Hldg Adr for a number of months, seems to be bullish on the $436.05 billion market cap company. The stock increased 0.77% or $1.28 during the last trading session, reaching $167.48. About 8.06 million shares traded. Alibaba Group Holding Limited (NYSE:BABA) has declined 6.34% since August 29, 2018 and is downtrending. It has underperformed by 6.34% the S&P500. Some Historical BABA News: 30/03/2018 – Alibaba founders bet on US subscription clothing pioneer; 18/03/2018 – ALIBABA SAYS TO INVEST ADDITIONAL $2 BLN IN LAZADA GROUP; 13/03/2018 – NETEASE CLOUD MUSIC SAYS CO, ALIMUSIC JOINTLY ENTERED INTO A CROSS-LICENSING AGREEMENT WITH RESPECT TO MUSIC COPYRIGHTS; 08/05/2018 – Alibaba expands South Asia footprint, snapping up Pakistani online retailer Daraz; 02/04/2018 – SoftBank, Alibaba to invest $445 million in Indian e-retailer Paytm E-Commerce; 15/03/2018 – Alibaba extends grip in emerging Asia with local data centers; 17/04/2018 – Alibaba-Backed Prenetics Acquires UK-Based DNAFit, a Global Leader in Consumer Genetic Testing; 09/04/2018 – ALIBABA’S MA TO ABANDON U.S. JOB VOW IF TIE WORSENS: CHINA NEWS; 30/05/2018 – Sen. @MarkWarner: In tech, Chinese companies are operating in a different rule book than us. It is a government that will force companies and censor them. Alibaba, Tencent and others, they are all penetrated deeply by the Chinese government; 04/05/2018 – Alibaba revenues rise but Ant Financial makes a net loss

Quantum Capital Management Llc increased its stake in Nvr Inc (NVR) by 2.06% based on its latest 2019Q1 regulatory filing with the SEC. Quantum Capital Management Llc bought 293 shares as the company’s stock rose 5.05% . The institutional investor held 14,547 shares of the capital goods company at the end of 2019Q1, valued at $40.25 million, up from 14,254 at the end of the previous reported quarter. Quantum Capital Management Llc who had been investing in Nvr Inc for a number of months, seems to be bullish on the $13.19 billion market cap company. The stock increased 0.47% or $16.77 during the last trading session, reaching $3608.66. About 13,887 shares traded. NVR, Inc. (NYSE:NVR) has risen 23.37% since August 29, 2018 and is uptrending. It has outperformed by 23.37% the S&P500. Some Historical NVR News: 30/04/2018 – Fidelity Growth Strategies Adds NVR, Exits Henry Schein; 19/04/2018 – NVR 1Q EPS $39.34; 19/04/2018 – NVR Inc 1Q Net $166M; 19/04/2018 – NVR 1Q NET ORDERS +17%; 23/04/2018 – NVR, LGI Homes Show Highest ROE; Big Builders Seen Flat at 16%; 23/04/2018 – SOHN CONFERENCE: KHOURY SAYS DHI COULD TRADE AT $71.50, CURRENTLY TRADING AT $43.40; 16/05/2018 – NVR, LGI Homes Show Highest ROE; Big Builders Seen Down to 16%; 19/04/2018 – NVR Inc 1Q Rev $1.49B; 28/03/2018 – S&PGR AFFIRMS NVR RATINGS, OUTLOOK REMAINS STABLE; 31/05/2018 – DGAP-NVR: AROUNDTOWN SA DISCLOSURE OF THE TOTAL NUMBER OF VOTING RIGHTS AND CAPITAL, IN ACCORDANCE WITH THE LAW AND GRAND-DUCAL REGULATION OF 11 JANUARY 2008 ON TRANSPARENCY REQUIREMENTS FOR

Northstar Investment Advisors Llc, which manages about $492.79 million and $538.82 million US Long portfolio, decreased its stake in Realty Income Corp (NYSE:O) by 4,628 shares to 144,265 shares, valued at $10.61M in 2019Q1, according to the filing. It also reduced its holding in Vanguard Index Trust Total Stock Market Index (VTI) by 8,975 shares in the quarter, leaving it with 25,725 shares, and cut its stake in Celgene Corp (NASDAQ:CELG).

More notable recent Alibaba Group Holding Limited (NYSE:BABA) news were published by: Seekingalpha.com which released: “Stocks To Watch: Macro Headaches For Investors – Seeking Alpha” on August 24, 2019, also Finance.Yahoo.com with their article: “Did Alibaba Just Prove the Bears Wrong? – Yahoo Finance” published on August 16, 2019, Investorplace.com published: “5 Top Stock Trades for Friday: GM, AMD, WDC, QCOM, BABA – Investorplace.com” on August 01, 2019. More interesting news about Alibaba Group Holding Limited (NYSE:BABA) were released by: Finance.Yahoo.com and their article: “STMP or BABA: Which Is the Better Value Stock Right Now? – Yahoo Finance” published on August 19, 2019 as well as Fool.com‘s news article titled: “Why Aren’t the Bulls More Excited About Bilibili? – Motley Fool” with publication date: August 28, 2019.

More notable recent NVR, Inc. (NYSE:NVR) news were published by: Finance.Yahoo.com which released: “Here’s Why I Think NVR (NYSE:NVR) Might Deserve Your Attention Today – Yahoo Finance” on July 02, 2019, also Finance.Yahoo.com with their article: “What Can We Make Of NVR, Inc.’s (NYSE:NVR) High Return On Capital? – Yahoo Finance” published on May 22, 2019, Seekingalpha.com published: “NVR: Waiting For An Entry – Seeking Alpha” on August 02, 2019. More interesting news about NVR, Inc. (NYSE:NVR) were released by: Seekingalpha.com and their article: “NVR Q1 homebuilding revenue rises, new orders fall – Seeking Alpha” published on April 22, 2019 as well as Finance.Yahoo.com‘s news article titled: “Why We Think NVR, Inc. (NYSE:NVR) Could Be Worth Looking At – Yahoo Finance” with publication date: August 05, 2019.

NVR, Inc. (NYSE:NVR) Institutional Positions Chart

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Infected Android App with 100M Downloads Found in Google Play

If you’ve got good Android antivirus software on your phone, run a scan. … Kaspersky naturally recommends its own Kaspersky Internet Security for …

An Android app with more than 100 million downloads from the official Google Play Store contained a backdoor that permitted the installation of any kind of malicious software without the phone user’s knowledge, Kaspersky researchers disclosed yesterday (Aug. 27).

The app, called CamScanner, lets you digitize text and create PDFs from documents by simply taking photographs of them, and was removed from the Play Store after Kaspersky notified Google of it. But the simple fact that it was in there at all shows how difficult — or, alternately, what a lousy job Google is doing — to keep malware out of the official Android app store.

If you’ve got a copy of CamScanner on your Android phone, uninstall it. If you’ve got good Android antivirus software on your phone, run a scan. If you don’t, get some.

MORE: Best Android Antivirus Apps

On the upside, not everyone who installed CamScanner got the backdoor on their phones, especially if they didn’t bother updating the app.

“CamScanner was actually a legitimate app, with no malicious intensions whatsoever, for quite some time,” a Kaspersky blog posting yesterday said. “However, at some point, that changed, and recent versions of the app shipped with an advertising library containing a malicious module.”

Igor Golovin and Anton Kivva, the Kaspersky researchers who documented the malware, theorize that CamScanner’s developer, INTSIG Information Co., Ltd., might not even have been aware of the infection.

“It can be assumed that the reason why this malware was added was the app developers’ partnership with an unscrupulous advertiser,” they wrote in the Kaspersky technical writeup.

Screenshot of CamScanner HD page in Google Play Store website.

A screenshot of the CamScanner HD page, which has the same logo as the removed CamScanner app, on the Google Play Store website.

(Image credit: INTSIG/Google)

That’s certainly possible. Many mobile apps have only limited control over where their ads come from, and malicious ad injection — “malvertising” — has plagued legitimate websites for many years.

But the upshot was that the backdoor — a “dropper” in information-security parlance — would open up a clandestine avenue to far-off servers, which could then push down any kind of software for installation on phones running CamScanner.

“The owners of the module can use an infected device to their benefit in any way they see fit, from showing the victim intrusive advertising to stealing money from their mobile account by charging paid subscriptions,” Golovin and Kivva wrote.

Ironically, or perhaps tragically, the backdoor had been removed from the most recent version of CamScanner before Google kicked the app out of the Play Store, the researchers said. (An app that creates a “license” for the paid version of CamScanner is still in Google Play, as is an older version of the app called CamScanner HD.)

How to avoid infection

So how do you keep malware out of your Android phone when even the official Play Store can be infected?

First, check the user comments on every app before you install it. The Kaspersky researchers were tipped off to the CamScanner problem because “negative user reviews that ha[d] been left over the past month have indicated the presence of unwanted features.”

Second, check the permissions on the app. On a desktop or laptop, scroll all the way down on the app’s Play Store web page and click “View details” under Permission. On a phone or tablet, click “About this app” on the Play Store app page, scroll all the way down to “App permissions” and tap “See More.” If an app that doesn’t need to make calls, use audio or get your specific location takes those permissions anyway, that should raise red flags.

Third, install and use good Android antivirus software, as mentioned earlier. Kaspersky naturally recommends its own Kaspersky Internet Security for Android, which is pretty good, but we like Bitdefender Mobile Security and Norton Mobile Security either. Bitdefender even has a no-cost version called Bitdefender Antivirus Free for anyone who doesn’t want to pay $15 a year.

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Megvii, the Chinese startup unicorn known for facial recognition tech, files to go public in Hong Kong

Megvii Technology, the Beijing-based artificial intelligence startup known in particular for its facial recognition brand Face++, has filed for a public …

Megvii Technology, the Beijing-based artificial intelligence startup known in particular for its facial recognition brand Face++, has filed for a public listing on the Hong Kong stock exchange.

Its prospectus did not disclose share pricing or when the IPO will take place, but Reuters reports that the company plans to raise between $500 million and $1 billion and list in the fourth quarter of this year. Megvii’s investors include Alibaba, Ant Financial and the Bank of China. Its last funding round was a Series D of $750 million announced in May that reportedly brought its valuation to more than $4 billion.

Founded by three Tsinghua University graduates in 2011, Megvii is among China’s leading AI startups, with its peers (and rivals) including SenseTime and Yitu. Its clients include Alibaba, Ant Financial, Lenovo, China Mobile and Chinese government entities.

The company’s decision to list in Hong Kong comes against the backdrop of an economic recession and political unrest, including pro-democracy demonstrations, factors that have contributed to a slump in the value of the benchmark Hang Seng index. Last month, Alibaba reportedly decided to postpone its Hong Kong listing until the political and economic environment becomes more favorable.

Megvii’s prospectus discloses both rapid growth in revenue and widening losses, which the company attributes to changes in the fair value of its preferred shares and investment in research and development. Its revenue grew from 67.8 million RMB in 2016 to 1.42 billion RMB in 2018, representing a compound annual growth rate of about 359%. In the first six months of 2019, it made 948.9 million RMB. Between 2016 and 2018, however, its losses increased from 342.8 million RMB to 3.35 billion RMB, and in the first half of this year, Megvii has already lost 5.2 billion RMB.

Investment risks listed by Megvii include high R&D costs, the U.S.-China trade war and negative publicity over facial recognition technology. Earlier this year, Human Rights Watch published a report that linked Face++ to a mobile app used by Chinese police and officials for mass surveillance of Uighurs in Xinjiang, but it later added a correction that said Megvii’s technology had not been used in the app. Megvii’s prospectus alluded to the report, saying that in spite of the correction, the report “still caused significant damages to our reputation which are difficult to completely mitigate.”

The company also said that despite internal measures to prevent misuse of Megvii’s tech, it cannot assure investors that those measures “will always be effective,” and that AI technology’s risks and challenges include “misuse by third parties for inappropriate purposes, for purposes breaching public confidence or even violate applicable laws and regulations in China and other jurisdictions, bias applications or mass surveillance, that could affect user perception, public opinions and their adoption.”

From a macroeconomic perspective, Megvii’s investment risks include the restrictions and tariffs placed on Chinese exports to the U.S. as part of the ongoing trade war. It also cited reports that Megvii is among the Chinese tech companies the U.S. government may add to trade blacklists. “Although we are not aware of, nor have we received any notification, that we have been added as a target of any such restrictions as of the date this Document, the existence of such media reports itself has already damaged our reputation and diverted our management’s attention,” the prospectus said. “Whether or not we will be included as a target for economic and trade restrictions is beyond our control.”

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