U.S. e-bike maker Lectric has launched its new urban commuter model, the XPress Lite, priced at $1,099. Designed to be lighter and cheaper than the XPress 2, it weighs about 20.7 kg without the battery. It uses a 500W rear hub motor with peak output of 864W and torque above 61 Nm. A 7.8Ah, 375Wh battery offers up to about 72 km of pedal-assist range.

A series of hacking and data leak incidents targeting the financial sector is refocusing attention on whether banks have invested adequately in information security. While major banks’ information security spending shares exceed a past financial-sector guidance level, execution rates remain low. Some banks cut security’s share of overall IT investment. With banks moving again to increase security budgets after recent incidents, attention is on whether higher allocations translate into actual vulnerability fixes and stronger response capabilities.