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“This is the closest approximation to what would happen in a liquidation context,” Bitfinex said on its website early on Sunday. “Upon logging into the platform, customers will see that they have experienced a generalized loss percentage of 36.067 percent.” The company said it would also give all affected clients a “BFX” token crediting their losses that could be redeemed by the exchange or for shares in iFinex, the exchange's parent company. Bitfinex said it would explain its methodology in a later update and that it was talking to investors about how to fully compensate its customers.

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NEW YORK (Reuters) – Ride-hailing service Uber [UBER.UL] has decided to invest $500 million into an ambitious global mapping project to wean itself off dependence on Google Maps and pave the way for driverless cars, the Financial Times reported on Sunday. The San Francisco-based company is ramping up spending in new technologies such as mapping and driverless cars following new investments into the company earlier this year. A representative for Uber could not immediately be reached for comment. (Reporting by Catherine Ngai; Editing by Marguerita Choy)

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NEW YORK (Reuters) – Ride-hailing service Uber [UBER.UL] has decided to invest $500 million into an ambitious global mapping project to wean itself off dependence on Google Maps and pave the way for driverless cars, the Financial Times reported on Sunday. The San Francisco-based company is ramping up spending in new technologies such as mapping and driverless cars following new investments into the company earlier this year. A representative for Uber could not immediately be reached for comment. (Reporting by Catherine Ngai; Editing by Marguerita Choy)

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Some criminals have switched to new iPhones as their “device of choice” to commit wrongdoing due to strong encryption Apple Inc has placed on their products, three law enforcement groups said in a court filing. The groups told a judge overseeing Apple's battle with the U.S. Department of Justice on Thursday that, among other things, they were aware of “numerous instances” in which criminals who previously used so-called throwaway burner phones have now switched to iPhones. The brief by the Federal Law Enforcement Officers Association and two other also cited a jailhouse phone call intercepted by New York authorities in 2015, in which the inmate called Apple's encrypted operating system “another gift from God.” The government obtained a court order last month requiring Apple to write new software to disable passcode protection and allow access to an iPhone used by one of the shooters in the December killings in San Bernardino, California.

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(Reuters) – Google Inc has morphed into Alphabet Inc. After U.S. markets closed on Friday, Alphabet replaced Google as the publicly traded company that will house Google's search and Web advertising businesses, maps, YouTube and its “moonshot” ventures such as driverless cars. Google's class A shares and class C shares will automatically convert into the same number of Alphabet class A shares and class C shares and start trading on the Nasdaq from Monday. The structural overhaul, announced in August, is intended to separate the company's core businesses from ventures such as the driverless cars, glucose-monitoring contact lenses and Internet-connected high-altitude balloons.

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A robust cyber security insurance policy can be tricky to procure, even for the most meticulous wealth management firms. Interest in cyber insurance has surged over the past year following a number of high-profile hackings, including one announced earlier this month involving the U.S. Office of Personnel Management. In response, many industries and the financial services industry in particular, have stepped up their vigilance against cyber crimes.

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By Andrea Shalal WASHINGTON (Reuters) – A massive breach of U.S. federal computer networks disclosed this week is the latest in a flood of attacks by suspected Chinese hackers aimed at grabbing personal data, industrial secrets and weapons plans from government and private computers. The Obama administration on Thursday disclosed the breach of computer systems at the Office of Personnel Management and said the records of up to 4 million current and former federal employees may have been compromised. U.S. officials have said on condition of anonymity they believe the hackers are based in China, but Washington has not publicly blamed Beijing at a time when tensions are high over Chinese territorial claims in the South China Sea.

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French media group Vivendi said on Friday it would book a 4.2 billion euro ($4.6 billion) pre-tax gain from the sale of Brazilian telecommunications company GVT, which would help it pay interim dividends. The company said it had also received a 12 percent stake in Telefonica Brazil's Vivo and would exchange 4.5 percent for 8.3 percent of Telecom Italia's ordinary shares in the coming weeks. “The closing of the sale of GVT and of the 20 percent interest in Numericable-SFR enables the Vivendi management board, in accordance with its commitment, to authorize in principle the payment of two interim ordinary dividends, each in the amount of 1 euro per share, in respect of 2015,” Vivendi said in a statement.

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By Noel Randewich and Astrid Wendlandt SAN FRANCISCO/PARIS (Reuters) – Customers preordering Apple Inc's smartwatch on Friday will have to wait at least a month for delivery, a sign of strong early demand for company chief Tim Cook's first new major product. People flocked to Apple's stores around the world to get a close-up look at the Apple Watch, the tech company's foray into the personal luxury goods market, with Apple predicting demand would exceed supply at product launch. “We view this as an indication of solid demand paired with very limited supply,” Piper Jaffray analyst Gene Munster wrote in a note to clients. “We continue to expect modest sales in the June quarter as demand ramps over time.” A key factor in the watch's success will be demand once an initial wave of interest from Apple enthusiasts subsides.

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By Astrid Wendlandt and Pauline Askin PARIS/SYDNEY (Reuters) – Consumers flocked to Apple Inc's stores around the world on Friday to get the first close-up look at the tech giant's smartwatch, which the company expects will be its next runaway hit. The Apple Watch, CEO Tim Cook's first new major product and the company's first foray into the personal luxury goods market, was available for pre-order online and to try out in stores — but not to take home. On April 24, consumers will be able to buy it online or by appointment in shops including trendy fashion boutiques in Paris, London and Tokyo, part of Apple's strategy of positioning the wearable computer as a must-have accessory. Testing Apple's mastery of consumer trends, the watch is an untried concept for the California-based company.