America can define down China’s harsh cyber rules 2 Apr 2019 Beijing may be willing to bargain over rules for how and where companies doing business in the country store data. It would be a surprise softening of its position. With more allies on the issue than usual, including in China, Washington has a better shot at winning concessions.
Sophos crash dents London’s tech dreams 18 Jan 2019 The cybersecurity firm’s shares fell by a fifth after it warned of weak orders. It adds to other recent large listings, like Funding Circle, that disappointed. Battered investors, and loss of talent from Brexit, will make it harder for the UK to become a European technology hub.
Review: The attack of the killer fridges has begun 14 Dec 2018 The world is ever more connected via the internet, from cars and power grids to home appliances and toys. That means ever more things are dangerously hackable, security expert Bruce Schneier writes in “Click Here to Kill Everybody.” His title isn’t as hyperbolic as it may sound.
Marriott breach invites data cops to check in 30 Nov 2018 Another 500 mln people now have to worry about identity theft. Hanging onto personal data, protecting it ineffectively and disclosing breaches only slowly are habits in corporate America. It’s not only Google, Facebook and their ilk that merit privacy rules more like Europe’s.
Mark Zuckerberg pushes wrong kind of independence 15 Nov 2018 Facebook’s CEO is setting up an external committee to police fake news and hateful content after more revelations about how he and others dealt with Russian meddling. But outsourcing decisions won’t fix Facebook’s culture. Removing Zuckerberg as chair would be a good first step.
China trade-secrets case brings sanctions closer 1 Nov 2018 State-backed chipmaker Fujian Jinhua was indicted for allegedly stealing designs from U.S. rival Micron. It was already barred from buying U.S. parts, so this raises the stakes. Former President Obama mulled sanctions for industrial espionage. That idea could be in play again.
Cathay Pacific typifies data-breach turbulence 25 Oct 2018 The $5 bln Hong Kong airline disclosed unauthorised access to personal details of over 9 mln passengers. It also waited seven months to come clean. Though investors should know by now that hacks can happen anywhere, they leave struggling companies like Cathay more exposed.
Facebook hires one weapon for two-handed fight 19 Oct 2018 Nick Clegg, former UK deputy PM, will lead global affairs at the $450 bln social network. His anti-Brexit stance and EU background could help with tribulations in Brussels. But he’s an odd choice to deal with Washington, where scrutiny may intensify after the midterm elections.
Facebook is late to fight second existential crisis 5 Oct 2018 User and government annoyance at poor security, low-quality content and excessive advertising is as big a danger to Mark Zuckerberg’s company as the 2012 growth of mobile. Facebook finally appears focused on the threat, but it won’t be as easy to solve.
Cyber risks deserve top billing more often 4 Oct 2018 Global trade tensions have dominated recent economic news. Thursday’s revelations of possible Chinese computer-hardware meddling and Russian hacking of a world chemical-weapons body and sports-doping watchdogs give justified prominence to what may be a bigger threat to growth.
Infected supply chains challenge Big Tech defenses 4 Oct 2018 Apple and Amazon both denied a report they had installed servers harboring compromised chips. It speaks to a problem with global manufacturing. Ensuring the purity of goods made far from end users is difficult, especially across borders. The alternative is to make less profit.
Southeast Asia’s politics cloud digital ambitions 14 Sep 2018 The Davos crowd descended on Hanoi this week and talked up ties that could make the 660-mln-person region the next China. Recent moves suggest tech barriers are rising, though. Europe's approach to data would be a better path to cut costs and risks while growing local champions.
BA is guinea pig for tougher EU data rules 7 Sep 2018 The UK airline said some customer payment records were hacked. Companies used to shrug off such attacks. But this breach comes after the rollout of new data protection laws. Now that non-compliance means fines, such lapses are a headache for investors as well as customers.
Activist board hack is a boon for Symantec 16 Aug 2018 Hedge fund Starboard is seeking five seats at the $12 bln cybersecurity outfit after taking a 5.8 pct interest. Accounting troubles and upheaval in its enterprise software business have slashed the firm’s value by a third this year. Fresh oversight could help fix the bugs.
Breakdown: EU gains new powers for Big Tech fight 21 May 2018 Europe’s new privacy rule, the GDPR, prohibits covert data gathering and allows users to have information moved or deleted. The likes of Google and Facebook may initially find it easier to comply than smaller companies. But over time they’ll face a hostile EU with new weapons.
Chinese antivirus giant’s cash-call is well-timed 16 May 2018 360 Security Technology is making the most of its new home after fleeing New York. It’s capitalizing on an exuberant new Shanghai valuation to raise $1.7 bln through a private placement so it can chase AI and big data. This is another smart trade from founder Zhou Hongyi.
Holding: Lawyers can make even charity look sleazy 15 May 2018 The U.S. Supreme Court will decide whether Google can settle an $8.5 mln privacy lawsuit with nonprofit gifts. The tech giant says the public will benefit, but only attorneys win big while victims get zilch. As with M&A suits, legal eagles have soiled a potential good with greed.
Cut-price IPO virus infects Avast’s market debut 14 May 2018 The $3.2 bln Czech cybersecurity outfit priced shares at the bottom of its range, only to see them fall in early trading. High debt, an unfamiliar “freemium” model and governance questions merit a discount. Yet investors have erected a too-strong firewall after recent IPO flops.
Symantec leaves investors suffering from silence 11 May 2018 The maker of anti-virus software lost a third of its value after it revealed an audit investigation and then skipped its earnings Q&A entirely. Not talking about the inquiry is understandable. But ruling all topics off limits encourages shareholders to indulge their worst fears.
Facebook not Zuckerberg is under fire in D.C. 9 Apr 2018 It will be tempting for U.S. lawmakers grilling Mark Zuckerberg to focus on his all-too-apparent flaws. That would miss the bigger question: whether Facebook is too complex to manage, whoever runs it. That is key to knowing whether the company ought to be regulated.