The hacking group behind the attack on ION Trading UK — the software firm that was struck by a cyberattack earlier this week, upending derivatives trading around the world — says a ransom has been paid.

Fear and paranoia now cow a once-proud $1 trillion internet industry. Even if Beijing relents, the sector is a shadow of its former self.

Tesla Inc. Chief Executive Officer Elon Musk said the electric carmaker needs to cut staff by around 10%, noting he had a “super bad feeling” about the economy, according to an internal email seen by Reuters.