THE NEWS WRAP: Dropbox refutes claims it was hacked

Dropbox says it hasn’t been hacked, after claims surfaced that seven million accounts have been compromised.

The company says it performed password resets on the accounts named when it detected suspicious activity a few months ago.

“Recent news articles claiming that Dropbox was hacked aren’t true,” the company says.

“The usernames and passwords referenced in these articles were stolen from unrelated services, not Dropbox.

“Attackers then used these stolen credentials to try to log in to sites across the internet, including Dropbox. We have measures in place to detect suspicious login activity and we automatically reset passwords when it happens.”

The company encouraged users not to reuse passwords across services and recommended enabling two-step verification on accounts.

Intel reports better-than-expected results

Intel has announced its revenue rose $US1.1 billion ($A1.26 billion) year-on-year to $US14.55 billion.

The company revealed its third quarter financial performance, which along with that revenue jump included earnings per share of $0.66.

Analysts had expected that Intel would earn $0.65 per share and revenue of $15.45 billion.

Checkr raises $9 million

San Francisco-based background check startup Checkr has raised $9 million to expand, The Wall Street Journal reports.

The startup reduces the time it takes to complete background checks on new hires and delivers them in bulk to businesses.

Overnight

The Dow Jones Industrial Average is down 5.88 to 16,315.19. The Australian dollar is currently trading at US87 cents.