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In another scam, the ring would hack an executive's email account, and then send a wire fund transfer request to the company employee authorized to handle them. The funds were then paid into the criminal's bank account, Interpol said.
A 38-year-old person was also arrested by the Nigerian authorities.
Both individuals are facing charges including hacking, conspiracy and obtaining money under false pretenses.
The arrest was a joint operation between Interpol and the Nigerian Economic and Financial Crime Commission (EFCC).
The businesses affected were in countries including Australia, Canada, India, Malaysia, Romania, South Africa, Thailand and the U.S., the statement said.

The alleged mastermind headed a network of at least 40 individuals across Nigeria, Malaysia and South Africa who provided the malware and helped carry out the scams, Interpol said. The gang also had money-laundering contacts in China, Europe and the U.S. who provided bank accounts to receive the illicit cash.
Following his June arrest in southern Nigeria's Port Harcourt, a forensic examination of devices seized by the EFCC showed Mike had been involved in a range of criminal activities including romance scams.

The Japanese shipper will transport goods from companies doing business on Alibaba's TMall.com platform to China, while an Alibaba affiliate will handle home delivery. Goods can either be flown across the sea when ordered or shipped by surface in advance and stored in warehouses.

Nippon Express is Japan's largest business-to-business and international shipper, enabling it to hold down costs by purchasing space on ships and aircraft in bulk. In teaming up with TMall, which controls 60% of China's online retail market, the shipper aims to handle half of all online purchases headed there from Japan.

Currently, Japan Post ships 90% of online purchases traveling to China via airmail with its express-mail service. But a fee hike of around 30% in June to 1,400 yen ($13.68) for packages up to 500 grams has raised headwinds to the service's use. Nippon Express will keep fees for similar items around 1,000 yen, aiming to pick up customers put off by the increase. Both services take four to six days for delivery in China.

Nippon Express and Alibaba will also take on the complex business of dealing with customs for companies on TMall. China updated rules on cross-border e-commerce in April and now requires such information as what is being shipped, prices and logistics to be submitted electronically. Nippon Express will be the first Japanese logistics company to create a digital link with Alibaba allowing this data to be combined and submitted in one neat package.

China's cross-border e-commerce retail market is expected to grow roughly twelvefold from 2014 levels to $245 billion in 2020, according to U.S. professional services company Accenture.

A number of Japanese companies are competing to offer better and cheaper shipping options to China, creating new chances for even smaller businesses here to access that enormous market. Yamato Holdings inked a partnership in April with companies including JD.com, TMall's smaller rival, to offer international shipping and home delivery. ANA Holdings plans to offer a service handling everything from customs procedures to delivery starting in September.

Such Japanese products as cosmetics and household goods have gained a sterling reputation for safety and quality in China. Consumers there are on track to buy 2.33 trillion yen ($22.8 billion) in goods from Japan online in 2019, according to the Japanese trade ministry. This is roughly triple the 2015 level.

E-commerce is growing more important to Japanese companies as a source of continuous demand from China. This stands in contrast to consumption by Chinese tourists in Japan, who have been spending less per capita of late.

(Nikkei)

Even a giant like Toyota Motor is feeling the heat. The Japanese automaker has been in talks with Google, the U.S. search powerhouse, on and off for about five years now. They are said to be discussing data terminals to be fitted in Toyota cars, among other things.

"They want data but we can't let them cross that line," a Toyota official said. A 21st-century version of the titanic tie-up seen between Toyota and General Motors of the U.S. back in the early 1980s has yet to materialize.

Connectivity is key

The increasingly overlapping interests of the auto and information technology industries is a reflection of the structural changes occurring in carmaking.

"In addition to driving, turning and stopping, 'connecting' will be [a basic] function" of an automobile, Toyota President Akio Toyoda has been quoted as saying. With semiconductors becoming ever more advanced and cheaper to produce, efforts to use them as a data-gathering tool for cars are in full swing. For Google, which wants to create new services by collecting a huge assortment of information, the idea of accessing the vast data provided by Toyota cars is attractive.

"If we had data on the status of windshield wipers on all vehicles, we could understand detailed weather conditions in different places," said a Toyota employee while sifting through information collected by sensors that come standard in its passenger vehicles in Japan and the U.S. Another employee mentioned how a sensor has picked up a long line forming at a recently opened shop. That kind of data collection, if applied to tens of millions of Toyota cars across the world, could spur the creation of countless new businesses.

"In five or 10 years, we may end up being a different company," said Toyota Chairman Takeshi Uchiyamada. As a company that started out as a maker of textile machines about 90 years ago, Toyota knows a thing or two about change.

Toyota has propelled itself to the top of the automaking pyramid with the help of what are essentially low-tech techniques, such as the kaizen strategy of continuous improvement, and the suriawase method of integration and coordination among parts from different manufacturers. But it may have to radically transform itself if it wants to thrive in the new era.

Toyota is not wasting any time trying to adapt. Last November, it set up a fund with Sumitomo Mitsui Banking and others to invest in new technologies. Two months later, it launched a subsidiary in Silicon Valley to study artificial intelligence because it "couldn't find the necessary talent in Japan," Uchiyamada explained. Toyota's go-it-alone mentality is fading fast, it seems.

Under the terms of the merger, Didi will make a $1 billion investment in San Francisco-based Uber which operates globally outside China. Uber China's investors will get a 20 percent stake in the new company, AFP cited Didi statement.

Didi CEO Cheng Wei said the two companies "have learned a great deal from each other over the past two years in China’s burgeoning new economy."

“Uber and Didi Chuxing are investing billions of dollars in China, and both companies have yet to turn a profit there,” Travis Kalanick, chief executive officer of Uber, wrote in a blog post obtained by Bloomberg. “Getting to profitability is the only way to build a sustainable business that can best serve Chinese riders, drivers and cities over the long-term,” he added.

Uber has been struggling to gain a foothold in China. The company said it was losing more than $1 billion a year in the country.

Didi and Uber China have been in a battle to attract global investment. In June, Didi closed a $7.3 billion financing round that included investment from the US technology giant Apple and the world’s largest e-commerce platform Alibaba.

Uber raised $3.5 billion from the investment arm of Saudi Arabia as part of a financing round of more than $5 billion.

Didi Chuxing, previously known as Didi Kuaidi, works with more than 14 million drivers in about 400 Chinese cities, and has 300 million users who place 11 million ride orders a day. According to the company, which claims to have 87 percent of the Chinese market, it completed 1.4 billion rides in 2015.

Didi has already agreed to work with other online taxi services, including US’s Lyft, India’s Ola and Southeast Asia’s Grab.

Two weeks ago, the State Great Khural appointed 11 new members to Prime Minister J.Erdenebat’s cabinet. However, the MPP board was forced to withdraw four nominees for the ministerial offices of Construction and Urban Development, Food, Agriculture and Light Industry, Health and Energy. The reason why Parliament could not finalize the appointments was linked to the conclusions of the Independent Authority against Corruption (IACC) regarding possible conflict of interests of the MPP-nominated candidates. Prime Minister J.Erdenebat’s completed cabinet is as follows:

U.Khurelsukh - Deputy Prime Minister,

J.Monkhbat - Chief of Cabinet Secretariat,

B.Choijilsuren - Minister of Finance,

N.Nomtoibayar – Minister of Labour and Social Welfare,

B.Bat-Erdene – Minister of Defence,

Ts.Monkh-Orgil – Minister of Foreign Affairs,

Ts.Oyunkhorol- Minister of the Environment and Tourism,

S.Byambatsogt –Minister of Justice and Domestic Affairs,

Ts.Dashdorj – Minister of Mining and Heavy Industry,

D.Ganbat – Minister of Road and Transport Development,

J.Batsuuri – Minister of Education, Culture, Sciences and Sports,

P.Sergelen - Minister of Food, Agriculture and Light Industry,

G.Monkhbayar - Minister of Construction and Urban Development,

A.Tsogtsetseg - Minister of Health,

P.Gankhuu - Minister of Energy.

O.Erdembileg was born in Ulaanbaatar in 1976, graduated from the National University of Mongolia, majoring in economy and finance in 1998. He has defended a master’s degree in Development Economics in 2002 at the Australian National University.

Mr Erdembileg worked as an officer, a head of department and divisions at the Ministry of Finance in 1998-2007, economist and chief economic analyst at the International Monetary Fund (IMF) in 2007-2013, adviser to the Director of Board of the Golomt Bank in 2014-2015, and the first deputy director of Golomt Bank since 2015.

The network is running daily broadcasts using 8K technology, which provides resolution 16 times as great as the system now in use, and 4K, which has 4 times as many pixels.

NHK says the technology provides a detailed stereoscopic effect and more realistic audio.

At a ceremony in Tokyo on Monday, NHK President Katsuto Momii said the system represents a new page in the history of broadcasting.

Parliamentary vice-minister of communications Keiichi Koshimizu said the test broadcasts are a world first. He said Japan has a great opportunity to promote the technology abroad.

NHK plans to conduct the test broadcasts from 10 a.m. to 5 p.m. every day. It will extend the hours this month for the Rio de Janeiro Olympics.

The broadcasts can be seen on display screens at NHK centers across Japan. During the Olympics, they can also be seen at public viewing sites in Tokyo and Osaka.

Compatible tuners are yet to go on sale.

NHK plans to start full-fledged broadcasts in 2018, 2 years before the 2020 Tokyo Olympics and Paralympics.

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)