Experts say the Optus hack could cost parent Singtel $420M to $560M for the 2.8M worst-affected customers; Singtel made $1.44B in profit in its fiscal year 2022 (Angus Whitley/Bloomberg)

Angus Whitley / Bloomberg:
As the Optus hacker appears to release data of 10,000 customers, Optus CEO Kelly Bayer Rosmarin says the Australian police are investigating a ransom demand  —  Australian mobile-phone company Optus said authorities are investigating an online ransom demand following a major data hack …

Renju Jose / Reuters:
Australia proposes changes to its consumer privacy rules post the Optus hack, enabling telcos to share IDs with banks for better monitoring during data breaches  —  Australia on Thursday proposed an overhaul of consumer privacy rules that will help facilitate targeted data sharing between …

Alice Uribe / Wall Street Journal:
Australian telecom Optus suffers a cyberattack, potentially giving the hacker access to data on up to 9.8M customers, per the CEO; the police are investigating  —  Australian telecoms company says mass breach could have exposed birth dates, phone numbers and other personal data

Josh Taylor / The Guardian:
Australian telco Optus, which has suffered a massive cyberattack, has repeatedly opposed changes to privacy laws to give customers more rights over their data  —  In its submission to Privacy Act review telco said giving people right to erase personal data would involve ‘significant’ hurdles and costs

Jeanny Yu / Bloomberg:
Tencent is no longer China’s most valuable company after its shares dropped 64% since Jan. 2021, wiping $623B in market value, more than any other firm globally  —  Tencent Holdings Ltd. has lost its title as China’s biggest company to liquor giant Kweichow Moutai Co., the latest sign …

Daryna Antoniuk / The Record:
Australia’s AG unveils plans for tougher online privacy laws after several major data breaches, including increasing fines from AU$2.22M to AU$50M or more  —  Australia plans to strengthen its online privacy laws following several major data breaches, attorney-general Mark Dreyfus said in a statement on Saturday.