Visa International Inc. said last week that intruders had penetrated its computer network in the U.K. and demanded a $16.3 million ransom for stolen information. A spokeswoman for Visa International said that the invaders didn't access consumer data or transaction processing systems and that the company refused to pay the ransom.
IBM Cites Y2K Issues
IBM said year 2000-related system lockdowns prompted a mediocre fourth quarter.
Revenue fell by 4% to $24.2 billion, compared to the same period last year, while profits dropped 11% to $2.1 billion. Analysts dismissed the slowdown as a temporary blip caused by Y2K concerns.
Webcaster Under Fire
Ten motion picture companies, three television broadcast networks, the National Football League and the National Basketball Association are suing a Toronto Internet broadcaster for copyright infringement. The suits stem from TVRadio Now Corp.'s practice of streaming feeds from 17 broadcast stations in Canada and the U.S. on the Internet through its site www.icravetv.com. While Canadian law allows such rebroadcasting, U.S. copyright laws explicitly prohibit unauthorized reuse of broadcast content.
More Baan Changes
Baan Co. announced more management changes in the wake of CEO Mary Coleman's resignation earlier this month. The Netherlands-based software vendor named Mike Shinya executive vice president of worldwide sales and gave Paul Daly, who has been managing North American sales, added responsibility for South and Central America.
Borders Group Inc. tapped Tamara Heim to be president of its Web site and brick-and-mortar bookstores, replacing Rich Flanagan, who's retiring. ... TSI International Software Ltd. in Wilton, Conn., changed its name to Mercator Software Inc.