Garmin’s cyber-attack lesson: sprint don’t jog 29 Jul 2020 The maker of sports watches and navigation tools fell prey to a hack less than a week before reporting earnings, and for days left users mostly clueless. There’s no one-size-fits-all way to handle complex cyber-incursions, but for future victims, being fleet of foot is a must.
Apple and peers could lose “when in China” shield 16 Jul 2020 The iPhone maker is one of many firms that tailors products to suit China’s demands, recently deleting an app used by Hong Kong protesters. Such decisions could soon be treated by U.S. authorities as foreign lobbying. That would curtail a delicate – and profitable – dance.
UK’s Huawei red card has visible and hidden costs 14 Jul 2020 Removing the Chinese tech giant from mobile phone networks by 2027 gives operators BT and Vodafone time to adapt their kit. That said, the ban will still cost 2 billion pounds. It also makes Britain’s 5G communications even more dependent on rival suppliers Ericsson and Nokia.
U.S. buyer can take advantage of TikTok’s problems 13 Jul 2020 Donald Trump is considering a ban on the video-sharing app because of its Chinese roots. Selling to an American suitor, whether it’s Disney, Twitter or another firm, would normally trigger regulatory watchdogs. They may turn a blind eye, though, leaving an open door.
British public would end up paying for Huawei ban 8 Jul 2020 Prime Minister Boris Johnson is mulling whether to bar the Chinese group from the country’s 5G mobile network. Ripping out existing Huawei kit could cost operators BT and Vodafone an extra 1 bln pounds. The bill for a U-turn forced by U.S. sanctions will end up with taxpayers.
Britain has more to lose from a Huawei U-turn 10 Jun 2020 Prime Minister Boris Johnson may block the Chinese tech giant from 5G phone networks, reversing a January decision. That would play well in Washington but carry big costs and possible retaliation by Beijing. With antes rising, Johnson is better off demonstrating his independence.
Phones will restore freedom at the cost of privacy 30 Apr 2020 Contact-tracing apps like Apple-Google’s will allow more public mobility but only if related testing is quick and easy, and everybody plays ball. That means democracies will wave sticks, disguised as carrots, to encourage use. Good results would outweigh the Orwellian overtones.
Equifax hack shows China aims wide as well as high 10 Feb 2020 The U.S. government blamed China’s military for 2017’s giant credit-reporting breach. It contends Beijing seeks not just kompromat and trade secrets, but also material to hone its own AI tools. That potentially makes any company with large data troves an espionage target.
Uncle Sam’s 5G telecom fantasy is M&A nightmare 7 Feb 2020 Attorney General William Barr thinks the U.S. could buy Nokia or Ericsson to counter China’s Huawei. But making private firms do the state’s bidding is not how America works. Wrapping suppliers in the flag would also destroy value. Selling shareholders would be the only winners.
Bezos-Saudi spat has e-commerce proxy war 3 Feb 2020 Tensions between Riyadh and the Amazon boss may seem a stateside phenomenon. Yet Saudi Prince Mohammed bin Salman and Jeff Bezos have backed different horses in the battle for the $34 billion Middle East e-commerce market. That implies risks for both sides.
UK’s Huawei call is anti-Trump parting gift to EU 28 Jan 2020 Britain has granted the Chinese telecom-kit maker a limited role in 5G networks. The U.S. president, who had pushed for a ban, will be as miffed as mobile operators will be relieved. On the eve of Brexit, London has also shown Europe how to balance Washington and Beijing.
Finablr faces tricky reboot after Travelex hack 14 Jan 2020 Shares in the London-listed fintech group have fallen 23% after a cyberattack on its bureau de change unit. The $350 mln decline probably overstates the immediate damage. The bigger risk is whether the mess deters corporate clients from Finablr’s faster-growing payments business.
China surveillance upstarts are better off at home 10 Oct 2019 Goldman Sachs is reviewing its role on Megvii’s Hong Kong IPO after the United States put the Alibaba-backed company on a human rights blacklist. Even if banks don’t cut ties, global funds may steer clear. Domestic markets will be more welcoming to the AI outfit, and its peers.
White House tests corporate corruption firewall 24 Sep 2019 From withholding Ukrainian aid to making money out of lodging visiting dignitaries, the U.S. administration has muddied the waters on acceptable behavior. Companies face tougher enforcement, which helps keep them on the straight and narrow. The gap between the two is widening.
American cities risk becoming new weak data link 10 Sep 2019 Los Angeles’ trip info program for e-scooters and bikes is expanding to other towns. It manages congestion but also sparks privacy and hacking concerns. Contractors may also try to avoid a stricter California data law. Including ride hailing makes proper controls more critical.
Capital One provides one more reason for data laws 30 Jul 2019 A hack at the $46 bln credit-card firm exposed more than 100 mln customers’ information. Puny U.S. deals, like Equifax’s $700 mln or Facebook’s $5 bln, aren’t enough to produce tighter protocols elsewhere. Legislation protecting data is a surer way to get companies’ attention.
Equifax shows how little it values consumers 22 Jul 2019 The credit-scoring firm gathers troves of sensitive financial information, making it systemically important. Yet it’s paying less than $3 in compensation for each of the nearly 150 mln Americans affected by its 2017 data breach. That provides little incentive to tighten security.
Old buyouts surf software’s frothy wave 11 Jul 2019 McAfee may return to public markets three years after TPG bought it from chipmaker Intel. Private equity ownership and M&A have buffed the firm up, even as PC anti-virus software has matured. But the idea McAfee’s value has doubled also rests on voracious demand for tech stocks.
CrowdStrike shows IPO window is open for buzzwords 12 Jun 2019 The cloud-based data-security outfit saw its stock nearly double in its market debut, giving it a $12 bln market cap. The money-losing firm is growing fast. But valued at 40 times revenue it’s a case study in investors’ willingness to suspend disbelief for appealing stories.
Huawei fracas erodes its European advantage 1 May 2019 Vodafone found flaws in the Shenzhen-based group’s kit. Huawei argues they are common in the sector, and not evidence of Beijing spying. Yet its Chinese roots mean it will be held to higher standards than European peers. Telco customers might decide it’s not worth the risk.