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Uber to pay $148m to settle cyber-attack dispute

Uber is set to pay $148 million to settle a legal dispute over a cyber-attack that exposed the information of more than 50 million customers and drivers.

The security breach at the ride-hailing company occurred two years ago, but Uber tried to hide the incident from industry regulators, and then decided to pay the hackers $100,000 to delete the data they originally seized.

The eye-watering payment was made in response to claims brought by the US government and 50 states.

Following the settlement, the company has pledged to change its approach to data in a bid to avoid a repeat of the incident.

Earlier this year, meanwhile, it was announced that Toyota will invest as much as $500 million in Uber.

The Japanese manufacturer - which is one of the world's best-known car brands - announced the investment with the long-term ambition being to develop self-driving vehicles.

Shigeki Tomoyama, executive vice president of Toyota Motor Corporation, said: "This agreement and investment marks an important milestone in our transformation to a mobility company as we help provide a path for safe and secure expansion of mobility services like ride-sharing."

At present, Uber is considered to be lagging behind some its rivals in the field of self-driving cars.

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