Take-Two suffers historic hack

A spate of high-profile hacks have shaken up businesses this week, spanning from Take-Two Interactive to Optus. These were the five big stories this week.

1. Take-Two Hack

Take-Two shares dropped this week after the game studio was hit by one of the biggest leaks in video game history.

Footage and source code was stolen from its anticipated GTA VI release, with the hacker now reportedly trying to extort money from the company.

That’s a big deal, potentially opening up security holes and opportunities for cheating on a game that has been in development for eight years.

It gets worse. Take-Two now warns customer support has also been compromised, with players sent phishing emails from its official account.

2. Row your boat

Fitness company Peloton is attempting to revive its fortunes, adding a rowing machine to its line-up of exercise equipment.

Costing nearly $5,000, the premium bit of gear will rank at the top end of the market. But after a horror year, will it convince investors?

So far the response has been muted. But Peloton still believes it represents the future of at-home fitness.

3. Slow shipping

Demand for shipping is finally abating with FedEx looking to cut costs by US$2 billion and hike prices across the board.

Amazon Air meanwhile has reported its slowest rate of growth since the pandemic began, as the ecommerce giant lets go of 100,000 staff.

While the company has done so through natural attrition, it makes you wonder what the next two to three years look like for online retail.

4. Cash is king

Melbourne punters will be unable to gamble more than $1,000 in cash  per day after new legislation tackles money laundering at Crown.

New restrictions will also see gamblers have to nominate the maximum they wish to lose before embarking on a session.

This of course comes on the back of the failings of Crown and Star from the last few years – and yet both have proved themselves bulletproof.

5. In the green

Lithium giant Albemarle says it will be extremely difficult for Australia to ever manufacture EV batteries, despite major enthusiasm.

It hasn’t stopped the company spending $2 billion on a new Perth plant in an effort to try, however, joining a string of miners vying to do so.

Many see batteries as the future growth of Australia’s resources sector – but there’s a good case for going further and developing tech ourselves.