23/09/2016 World Business Report

The internet giant owns up to what could be the biggest cyber

Plus - take off for India's defence ambitions, as it prepares to sign

We'll be speaking to a defence expert about that huge India deal

We start in Silicon Valley where there are some very red

Internet giant Yahoo has admitted it has been the victim of the biggest

It says back in 2014 the personal details of 500 million -

that's half a billion - of its users were stolen.

one has to ask if there was even half a billion users!

If you use - or used Yahoo - how worried should you be?

The company says hackers may have stolen users' names,

e-mail addresses, telephone numbers, dates of birth, encrypted passwords

The good news, according to Yahoo, is that they may not have obtained

some of the really important stuff: unprotected passwords,

payment card data and bank account information.

Still this is hugely embarrassing for Yahoo.

And more than a little annoying for US telecoms giant Verizon

which agreed to buy the internet company in a multi-billion dollar

The big question - why it has taken so long

for the company to discover and then own up to

From San Francisco - here's our technology reporter

Rumours that Yahoo had been hacked have been circulating for a couple

of months. It was initially estimated that 200 million users may

have been hit but it's turned out to be much worse than that. In terms of

size, when we look at the other mega breaches as we know them this year,

things like linked in when 100 and million records will stop MySpace

was another one. This was bigger than that. It is unprecedented in

terms of the number of records impacted. Both Yahoo and the FBI are

investigating the source of the attack. Yahoo! Said it was state

sponsored. It could have serious ramifications for the future of

Yahoo. In July, it was sold to telecom giant Verizon. Ben Lee found

out about the hack in the last few days and is now considering its own

options. Questions are also being asked about Yahoo boss who has

presided over by the decline of the company and the largest online

security breach in history. It's another sad chapter for what was

once the most popular website on the Internet.

We are also talking about this - it's the latest Rafale fighter jet

made by Dassault of France - and later this Friday India

will sign an agreement with the French to buy 36 of them

in a deal that could be worth $9 billion.

It is a big moment for India - which is modernising its ageing air

It's also a symbol of big changes in the global defence industry.

India has become the world's fourth largest spender on defence

after China, the US and Saudi Arabia.

Low oil prices mean Russia and Saudi have less money to spend on arms,

boosting India's importance for the industry.

The global trade is predicted to hit a record $69 billion this year -

with France set to overtake Russia as the biggest exporter

It is a deal that has been years in the making. India desperately needs

to modernise its air force and with hundreds of billions of dollars in

its war chest, it has the money to pay. With a special invitation to

President Francois Hollande, India send a clear message that it wants

to buy French. Under the deal, India will get 36 fighter jets ready to go

straight into service. The planes will come equipped with

state-of-the-art science. They can carry nuclear weapons, to come up by

increasing the number of jets in the air force fleet. India hopes to

become equipped to combat any threat from China and Pakistan. It is not

just another business deal for India. Hoping for strategic

long-term relationship with France, they are making sure India is

getting as much as it can out of the purchase. Not only did front agree

to reduce the price, it is the offset clause. It means almost half

the value of the contract will be invested here in India, generating

more jobs and creating more business. The deal is part of a $150

billion defence overhaul India has launched. Experts say the government

needs to make more deals and soon. The government of India has not been

able to insure the appropriate modernisation of existing platforms

and the induction of new platforms. As a term we often use in the armed

forces, obsolescence. With the capital O, with a B. This particular

decision is really a case of making up a very, very huge gap in terms of

injured -- inventory. They were averagely looking for 126 jets that

the number was scaled back last year. The first of the new jets will

take at least three years to arrive on Indian soil. After years of

bargaining and an already ageing fleet of fighter jets, that delivery

can't come soon enough. Howard Wheeldon is an independent

defence, aerospace and industry Great to see you. Thanks for coming

in at this ungodly hours. Why a French plane? How does it stack up

with what else is out there? France has been very active

internationally. Their defence Minister has got out and tried to

sell this aircraft, salads defence equipment. This is the first time

the French have actually been banished to export this. It could be

making the plane? Ultimately. The majority of them that we are talking

about today, 36, originally 126 was intended. That was announced four

years ago. Over the past four years, there was lots of negotiations and

lots of struggle because basically, the rest are predominantly the fact

that India wants to assemble them in India. It wants to push its industry

as it has been doing with Hawkes, they have been assembled in India

for very many years. This purchase of the jets is part of the bigger

picture, 150 billion is what the war chest holds. I can imagine arms,

exporting countries must be lining up a knocking on the door. India is

expanding its defence budget by 70% per year. It faces a number of

threats. We have seen a rise in tensions with Pakistan over the last

ten days and that is just one example. India needs to better

defend itself. It has a lot of defence equipment but it's pretty

old and it needs to modernise. That is what it is doing. Talking about

defending itself and its defence budget is up again but it appears

around the world, we are seeing a trend. Countries are spending big.

We are seeing an increasing trend. The level of threats against the

Western world and Middle East countries is rising. Tensions are

rising. We are seeing defence spending budgets rising. The same

applies in North America. Britain is expanding its defence budget.

Germany and France have been slow but Europe will have to increase

spending on defence. It's too low and Nato needs to be further

strengthened. We have also heard from Mr Trump. If he becomes

president, he will be spending big as well, apparently. So he says.

Maersk, the Copenhagen-based shipping giant, is to be split up.

The 120 year old Danish conglomerate is the world's biggest shipping line

It has been hit hard by sharp falls in container shipping rates

and the plunge in crude prices, which has affected its oil division.

It will now refocus on its core transport business

The World Trade organisation says the EU has failed to comply

with rulings that it should cut subsidies to aircraft maker Airbus.

Rival Boeing says it could pave the way for the US to seek up

to $10bn in annual retaliatory tariffs.

It follows years of accusations between the two aerospace giants

The WTO is yet to rule on a similar EU complaint that Boeing benefits

from billions of dollars in tax breaks.

I will be back to the act of newspapers. That look at.

Don't forget you can get in touch with me and some of the team

More than half of female workers have experienced period pain that

affects their ability to do their job, according