:00:17. > :00:20.Europol says the cyber-attack has affected 150 countries so far,
:00:21. > :00:23.but what can be done to stop the hackers?
:00:24. > :00:28.We'll hear from the boss of a leading internet security firm.
:00:29. > :00:33.Also in the programme, we'll take a look at China's plans
:00:34. > :00:36.President Xi pledges billions to rebuilt ports,
:00:37. > :00:51.This is the situation with markets in Central Europe. Particularly,
:00:52. > :00:54.cyber security stocks are doing well this morning. Sally.
:00:55. > :00:57.And following that cyber-attack, today we want to hear from you -
:00:58. > :00:59.have you been affected - what changes are you
:01:00. > :01:21.Microsoft says a huge global cyber-attack, which has hit more
:01:22. > :01:24.than 150 countries since Friday, is a wake-up call.
:01:25. > :01:27.A huge number of companies were targeted in the initial attack -
:01:28. > :01:30.including Spain's Telefonica, Fed Ex in the US, and Germany's
:01:31. > :01:35.Europol says the attack hit 200,000 victims in more
:01:36. > :01:37.than 150 countries - and warns more people
:01:38. > :01:40.and businesses could find they are infected this morning.
:01:41. > :01:43.The National Cyber Security Centre urges companies to keep security
:01:44. > :01:46.software patches up to date, use anti-virus software,
:01:47. > :01:58.Nicole Eagan is Chief Executive of cyber security firm Darktrace,
:01:59. > :02:14.Good morning. Just tell us a little bit more about how this attack
:02:15. > :02:19.worked. When you look at the attack it moved very quickly. It looked for
:02:20. > :02:26.vulnerabilities in the software patches and once it got inside the
:02:27. > :02:32.network it spread like wildfire. It uses a worm. It did not require a
:02:33. > :02:36.human to do anything. Usually with an attack Kuwait for a person to
:02:37. > :02:41.click on the link and take action but in this case it spread
:02:42. > :02:46.automatically. That is why it spread so far and so fast? Yes, it
:02:47. > :02:52.outstripped our human Security teams capacity because it moved very fast.
:02:53. > :02:56.It is not clicking on something which enables the virus or worm to
:02:57. > :02:58.go through, literally went from computer to computer. Here in the
:02:59. > :03:20.NHS where there are so many computers, is that why
:03:21. > :03:22.it spread so quickly and what can be done? Yes, it did spread internally.
:03:23. > :03:25.The good news is this is actually quite a blatant attack. What I mean
:03:26. > :03:28.by that is there is nothing subtle about it. There are detection tools
:03:29. > :03:30.which can spot these and find them early. We were able to prevent this
:03:31. > :03:33.and spotted within some companies in the UK. We spotted it in several
:03:34. > :03:35.minutes and were able to interrupts the attack. Those watching who may
:03:36. > :03:42.be vulnerable, what is your advice? be vulnerable, what is your advice?
:03:43. > :03:47.For the immediate actions, it is important to make sure you have a
:03:48. > :03:51.back-up of all of this data and then applying these patches. Long-term we
:03:52. > :03:57.will see more attacks. The problem with the cyber attacks is they are
:03:58. > :03:59.constantly changing and evolving. In fact, there are already reports that
:04:00. > :04:04.there are new strains of this particular attack out there already.
:04:05. > :04:08.Who knows what the next attack will be? I think what we need to do is
:04:09. > :04:17.take a more forward look of how to get ahead of these problems. Do you
:04:18. > :04:19.think this problem is because agencies in the United States in
:04:20. > :04:25.particular have been hoarding the information that has allowed this
:04:26. > :04:31.worm to find a back door into Microsoft's systems. Is it the US
:04:32. > :04:34.government which is at fault here? I think there is a whole ecosystem out
:04:35. > :04:39.there with cyber criminals basically selling each other's tools on the
:04:40. > :04:43.dark web. Knowing that that's ecosystem exists, and this is
:04:44. > :04:47.becoming a full on arms race, it really comes down to whose
:04:48. > :04:53.algorithms are going to be smarter. That is what we need to do, we need
:04:54. > :04:58.to use new techniques, things like machine learning. We have some great
:04:59. > :05:00.learning at the University of Cambridge which can help us get
:05:01. > :05:06.ahead of these attacks. Unless we take a big is that forward, it will
:05:07. > :05:10.not help us get any better. Is it the fact that those who want to try
:05:11. > :05:15.and disrupt and cause harm through cyber hacking, they have to operate
:05:16. > :05:19.on the so-called dark web in which ever way they can do so. Is that one
:05:20. > :05:24.of the things which benefits those of us who are trying to counter it,
:05:25. > :05:28.the fact that we can share information openly and
:05:29. > :05:32.transparently. Absolutely. One of the things we look at is how can we
:05:33. > :05:38.learn from the human body. We have this incredible immune system that
:05:39. > :05:41.when bacteria and viruses gets inside, even though we have skin to
:05:42. > :05:45.protect us, we have an automatic response which is very precise to
:05:46. > :05:49.help us battle that. That is what we are looking at at Darktrace on how
:05:50. > :05:54.we can use this immune system approach. We have found a way that
:05:55. > :05:58.we can create digital antibodies and an immediate response to these type
:05:59. > :06:04.of threats and those can be shared. We have to leave it there but
:06:05. > :06:09.Nicole, thank you very much for your time this morning and coming in from
:06:10. > :06:14.Darktrace, Nicole Eagan, chief executive. Of course, there is a lot
:06:15. > :06:18.of information on our website. Many of you have questions and you want
:06:19. > :06:25.to know information. We have a whole page dedicated to ransomware attack
:06:26. > :06:32.fallout. That is our live page so do take a look when you have time. It
:06:33. > :06:35.will be useful for what you can do with your computer.
:06:36. > :06:38.Let's take a look at some of the other stories making the news.
:06:39. > :06:41.Facebook's Sheryl Sandberg has made a plea for the government to do more
:06:42. > :06:45.Her comments come on Mother's day in the US where she called
:06:46. > :06:47.for a higher minimum wage, paid family leave
:06:48. > :06:50.Ms Sandberg says public policies need to catch up
:06:51. > :06:53.The Greek government has slashed its growth forecasts
:06:54. > :06:55.for this year as it looks towards approving new
:06:56. > :07:00.According to the state news agency, the government has lowered
:07:01. > :07:06.The latest estimate also falls short of the European Commission's
:07:07. > :07:12.One of the world's biggest miners - BHP Billiton is rebranding and axing
:07:13. > :07:17.The Australian company BHP gained the name when it merged
:07:18. > :07:21.with a South African company in 2001.
:07:22. > :07:24.The firm says the change is all part of its efforts to emphasise
:07:25. > :07:39.Let's check in with the financial markets now and in Asia investors
:07:40. > :07:57.That figure was to do with results from department stores. Investors
:07:58. > :08:04.have shrugged off the effect of the cyber attack and instead, the value
:08:05. > :08:10.of security stocks have surged. A male positive sentiment across
:08:11. > :08:17.platforms has been capped with some figures from China.
:08:18. > :08:32.Samira Hussain takes a look ahead at what's we can expect
:08:33. > :08:40.On Monday big hedge fund investors like Carl Icahn and David Einhorn
:08:41. > :08:43.will reveal their first quarter purchases and sales of well-known
:08:44. > :08:50.We'll also get insight into market trends including whether billionaire
:08:51. > :08:53.investors took money off the table in US stocks especially
:08:54. > :08:56.financial stocks as the Trump trade began to fade.
:08:57. > :09:00.The Gap and Home Depot will be reporting earnings
:09:01. > :09:02.on Tuesday and on Wednesday, US retailer Target
:09:03. > :09:08.They've already warned of lower profits for this quarter and said it
:09:09. > :09:11.would lower prices to try and compete with rivals.
:09:12. > :09:16.One of those rivals is Wal-Mart, the world's number one retailer,
:09:17. > :09:23.and Wal-Mart will be reporting their earnings on Thursday.
:09:24. > :09:30.With us is Jeremy Stretch, Head of FX Strategy at CIBC.
:09:31. > :09:39.It is always nice to see you. What are you looking out for this week
:09:40. > :09:40.what is on your radar? I think markets are going to look at what
:09:41. > :09:46.the data will do over the next the data will do over the next
:09:47. > :09:52.quartering the US, to validate the assumptions of a June rate hike. And
:09:53. > :09:57.indeed, if we get reasonable data, the question is, what will the
:09:58. > :10:01.markets then imply beyond that? Essentially, June seems to be a done
:10:02. > :10:05.deal so markets will be fixating about the next leg in terms of the
:10:06. > :10:10.global interest rate cycle led by the US. There is a bit of a
:10:11. > :10:15.dampening effect on the markets and investment data coming out of China,
:10:16. > :10:20.does it concern you? Does not concern me and duly. Yes, moderation
:10:21. > :10:25.in China is not unexpected, but from a global perspective, what we will
:10:26. > :10:35.see is growth from a number of jurisdictions, so the US growth
:10:36. > :10:38.trajectory is reasonable. I think what we would argue the global
:10:39. > :10:40.economy is flying on more than one engine, and that has been something
:10:41. > :10:43.that we have not seen for some considerable time. That is the
:10:44. > :10:47.subtext we will be looking at. Interesting to see oil creeping up.
:10:48. > :10:54.This is on conversations from Opec and Russia that they will keep
:10:55. > :10:58.production cuts in place for a while, it is around 53 cents a
:10:59. > :11:04.barrel today. Unless you are getting back to 55 or 60, I would not
:11:05. > :11:07.necessarily overplay the inflationary consequences. We have
:11:08. > :11:12.seen an inflation spike on the back end of last year, so unless you see
:11:13. > :11:14.that really amplified then we would not worry about inflationary
:11:15. > :11:18.consequences. The fascinating thing will be in terms of if we are in a
:11:19. > :11:25.slightly better great environment, then eventually we'll see some
:11:26. > :11:27.reduction in global infantry is and that is what the production ceiling
:11:28. > :11:30.is aiming to achieve. If we start see ceiling is coming down that will
:11:31. > :11:37.be a more constructive environment for the oil market and will not be
:11:38. > :11:42.reliant on production cuts. Jeremy, thank you. He will be back later on
:11:43. > :11:46.to talk about other stories, especially why there are so many
:11:47. > :11:48.copies of the da Vinci code ending up in charity shops and why they
:11:49. > :11:50.don't want them. They don't want to read it,
:11:51. > :11:52.presumably. We'll take a look at China's plans
:11:53. > :11:58.to revive ancient trade routes. President Xi pledges
:11:59. > :12:00.billions to rebuilt ports, You're with Business
:12:01. > :12:11.Live from BBC News. Lonmin - the third largest producer
:12:12. > :12:15.of platinum in the world - has just announced an operating loss
:12:16. > :12:18.in the second quarter as a result of higher costs
:12:19. > :12:26.and lower production. Joining us now from the London Stock
:12:27. > :12:40.Exchange is the Lonmin's Thank you for coming onto the
:12:41. > :12:46.programme. What exactly is the problem here? Why is it struggling,
:12:47. > :12:54.is it the price of platinum? What is the most important factor and what
:12:55. > :12:59.to do about it? The prices are very low and the rand has been stronger.
:13:00. > :13:04.Those are things which are uncontrollable for us. What Lonmin
:13:05. > :13:09.has been doing is to remove high cost production to make sure the
:13:10. > :13:12.demand supply market is tightened and we could benefit from all other
:13:13. > :13:18.suppliers doing the same things. We have taken 100,000 platinum ounces
:13:19. > :13:21.and we expect that should help in tightening the market and we would
:13:22. > :13:26.hope that everyone is disciplined enough in that approach. We have
:13:27. > :13:32.been removing production from our high cost production shafts,
:13:33. > :13:36.shutting shafts, reducing costs, we retrain 6000 people last year and
:13:37. > :13:41.all these efforts have culminated in a poor quarter one performance up
:13:42. > :13:45.until January which was a hiccup in our performance. However, that has
:13:46. > :13:50.turned and we have seen much production being a record production
:13:51. > :13:55.and that has continued up to now, resulting in a net cash position
:13:56. > :14:00.improving from December last year to $49 million. That net cash has
:14:01. > :14:06.improved $75 million. Our liquidity has also improved to $447 million,
:14:07. > :14:16.so we have sufficient liquidity to navigate this tough to rain of very
:14:17. > :14:26.low prices. Then, thank you for explaining all of that. I am sorry
:14:27. > :14:30.to say we are running out of time. That is Ben Megara, the chief
:14:31. > :14:34.executive of Lonmin. Radical changes going on at that company to try and
:14:35. > :14:38.grapple with some of the issues they are facing, falling price in
:14:39. > :14:43.platinum and the currency in South Africa all the place. There is lots
:14:44. > :14:48.more on our Business Live page. We have more on the security attack and
:14:49. > :14:52.other stories as well. Do dig deep when you have time.
:14:53. > :15:00.Our top story, Microsoft says a huge global cyber-attack,
:15:01. > :15:03.which has hit more than 150 countries since Friday,
:15:04. > :15:08.A huge number of companies were targeted in the initial attack
:15:09. > :15:12.including Spain's Telefonica, Fed Ex in the US, and Germany's
:15:13. > :15:27.There is amusing pictures of chalk boards on the German railways. Just
:15:28. > :15:35.chalk boards telling you when the trains are coming and going.
:15:36. > :15:37.The Chinese government is investing billions of dollars as part
:15:38. > :15:40.of a plan to restore the ancient trade routes connecting
:15:41. > :15:43.President Xi Jinping has pledged $124 billion for the scheme known
:15:44. > :15:47.First unveiled in 2013 the project consists of a maritime
:15:48. > :15:50.route starting in China which winds its way to Europe.
:15:51. > :15:53.At the same time a land based network would make its way west
:15:54. > :15:56.Helena Huang is an economist specialising in China
:15:57. > :16:08.Good morning. Thank you for being on the programme. Just tell us a bit
:16:09. > :16:15.more about this route, the belt and road initiative and how much impact
:16:16. > :16:21.it will have on trade? Yes. So I think this initiative is a China
:16:22. > :16:28.backed global community initiative and it has started by the president
:16:29. > :16:33.himself in late 2013. I think the idea or the aim of the initiative is
:16:34. > :16:37.to revise economic growth through the creation of a new set of
:16:38. > :16:42.infrastructure projects and networks across 65 countries so and also I
:16:43. > :16:47.think what is interesting about this initiative is that it is really a
:16:48. > :16:52.ground-breaking initiative in its scale and scope. Spending across
:16:53. > :16:58.like four Continents, covering more than a third of global GDP and 16%
:16:59. > :17:03.of global population and I will also add that the uniqueness of this
:17:04. > :17:08.initiative is also its preference for the infrastructure projects and
:17:09. > :17:16.investment and at the same time it focuses a lot on emerging markets as
:17:17. > :17:22.well as frontier markets where the local currency markets are less
:17:23. > :17:25.developed. It has been a chance for President Xi to criticise
:17:26. > :17:32.protectionism. He is seeing this as a chance to champion what he calls
:17:33. > :17:38.free taid, isn't it? Well -- free trade, isn't it? The goal to is
:17:39. > :17:43.revise economic growth and trade is a part of it, but I would say that
:17:44. > :17:47.is Rome not built in one day and to achieve this initiative and deliver
:17:48. > :17:53.it well, it takes a lot of tile. And I think what's important would be
:17:54. > :18:00.economic co-operation. Once we can achieve concerted policy effort to
:18:01. > :18:03.give stronger economic co-operation there will be enormous benefits, not
:18:04. > :18:08.only for global trade, but global growth. It's ground-breaking in its
:18:09. > :18:12.size and scale and the number of countries involved, but what are the
:18:13. > :18:18.obstacles in the way and what about the concern of China's control and
:18:19. > :18:23.influence elsewhere? I think the main obstacle or the main challenges
:18:24. > :18:27.how shall we achieve economic co-operation aAmanda Knox so many
:18:28. > :18:33.different countries and that's taking a lot of effort. On the part
:18:34. > :18:41.of whom? On the part of both sides as well as the policy makers in the
:18:42. > :18:50.belt and road countries. I can see the UK take a very active part
:18:51. > :18:55.acting as a natural partnership to help China with this belt and roads
:18:56. > :18:59.initiative on the back of legal and advisory services. I was reading
:19:00. > :19:03.about how Greece is pinning its hopes on getting something out of
:19:04. > :19:06.the new partnerships. Do you think there could be it is appointment
:19:07. > :19:11.down the line when perhaps what has been promised isn't delivered? I
:19:12. > :19:15.think what's important is once again for us to really keep an optimistic
:19:16. > :19:20.view about what can be achieved because at the ebbed of the day,
:19:21. > :19:25.this is all about infrastructure growth, all about trade, and
:19:26. > :19:31.investment and also it is about culture and people across the
:19:32. > :19:38.nation. So, a better connected world or a better con cted region --
:19:39. > :19:44.connected region would be better for regional growth.
:19:45. > :19:49.Thank you for coming in today. More detail on our website.
:19:50. > :19:51.Rebellion is a leading video game company responsible for smash hit
:19:52. > :19:53.titles such as Sniper Elite and Alien Versus Predator.
:19:54. > :19:55.The company's boss is Jason Kinglsey.
:19:56. > :20:01.The video game boss says that he lives his life according
:20:02. > :20:03.to the knights' code of honour, which he also applies
:20:04. > :20:26.When I'm not sitting in front of the computer being the boss of a
:20:27. > :20:34.computer games company I live my life similarly to that as a medieval
:20:35. > :20:38.knight as I possibly can. Obviously I'm not actually a knight. But I do
:20:39. > :20:47.actually have horses and I do actually train them and I do
:20:48. > :20:51.actually wear armour! Bravery, it's the ability to charge
:20:52. > :20:56.forward and seize an opportunity and do the best you can with it.
:20:57. > :21:01.Bravery is also about exploring new territories, seeking out new markets
:21:02. > :21:07.for what you do in business and bravery is an essential component of
:21:08. > :21:14.being a leader. Honesty, honesty in business is very important. It
:21:15. > :21:18.doesn't, of course mean telling doesn't, of course mean telling
:21:19. > :21:20.everybody all your secrets, what it means is actually dealing fairly
:21:21. > :21:25.with people. If there is a problem, let them know about it and usually
:21:26. > :21:28.these things can be sorted out. It ideally means that everybody should
:21:29. > :21:35.walk away from a business situation feeling they've got a fair deal.
:21:36. > :21:41.Kindness, it's about treating things well. It's about looking after your
:21:42. > :21:51.friends, and your family and you are animals and your landscape around
:21:52. > :21:56.you. That's Jason Kingsley part of our CEO series which is online.
:21:57. > :21:59.There is loads of snippets from company bosses on our website. It's
:22:00. > :22:06.great. Geoffrey is back.
:22:07. > :22:22.Let me talk about Lift and Waymo. They're getting together to try and
:22:23. > :22:26.work and getting this product out quickly This deal, if it's brought
:22:27. > :22:29.together suggests that we're getting closer to a commercialisation of
:22:30. > :22:32.that process and also it underlines the fact that the threat to the
:22:33. > :22:36.traditional metrics in terms of those that have been driving for a
:22:37. > :22:43.living because if you're getting into a ride hailing unit with self
:22:44. > :22:46.driving cars then there are fairly significant strategic partnerships
:22:47. > :22:55.and changes in the consumer experience shall we say in cities
:22:56. > :23:02.such as London. Waymo is operating under Google's parent company,
:23:03. > :23:09.Alphabet. There is this huge race on... The first mover advantage will
:23:10. > :23:13.be crit ale assuming that the technology is sustainable and is, of
:23:14. > :23:17.course, safe which is the other ultimate bugbear for this particular
:23:18. > :23:21.story. But there is an incredible arms race to get to market first and
:23:22. > :23:27.try and get that strategic advantage. Automation meaning there
:23:28. > :23:30.will be fewer human drivers in the future and the social problems that
:23:31. > :23:44.could cause? The strategic changes that we're seeing. It's the great
:23:45. > :23:47.industrialisation on the next phase. We've seen mecanisation and
:23:48. > :23:52.technology throwing up a source of structural changes that will be
:23:53. > :23:55.important for the labour market. An academic in market, hose name I
:23:56. > :23:59.can't remember, forgive me if you're waffling, was quoted in the papers
:24:00. > :24:06.as saying that petrol cars will be a thing of the past in eight years?
:24:07. > :24:10.Some of tenants behind that story... Are they sponsored by Google? There
:24:11. > :24:17.are a lot of components are speculative. You saw it too? Yes.
:24:18. > :24:22.Good. It is one of those headline grabbing reports. We're probably
:24:23. > :24:26.somewhere further along from eight years. He has taken spectacular
:24:27. > :24:29.assumptions on board in order to facilitate that. I don't know
:24:30. > :24:37.anything about the academic either the one suspects he has a strong
:24:38. > :24:42.bias in order to move away from the petrol engine or come buston engine
:24:43. > :24:52.and moving towards electrification. Have you read the da Vinci vowed?
:24:53. > :24:57.No. Have you? Yes. It ended up in a charity shop and apparently there
:24:58. > :25:04.are too maeb of these books being dumped on charity shops. One charity
:25:05. > :25:10.shop said we can't take anymore. I'm not sure why one charity shop in
:25:11. > :25:15.Swansea should have got so many! If it was an aim of promoting the books
:25:16. > :25:21.in the Swansea area over the past few years, but it underlines the
:25:22. > :25:28.popularity of one certain he will the and books have a time horizon.
:25:29. > :25:34.Going into technology maybe that's something like the Kindle sin
:25:35. > :25:42.ceasing. Thank you, Jeremy. That's all from BBC Business Live.
:25:43. > :25:47.The other story was 50 Shades Of Grey was the other book that charity
:25:48. > :25:53.shops didn't want. There you go, you heard it here first!
:25:54. > :25:57.This week is looking unsettled. Strong winds coming up from the
:25:58. > :26:01.south or the south-west. Initially it will be a warm start to the week
:26:02. > :26:02.and cooling off later on. Today is looking wet. A lot of cloud. A lot
:26:03. > :26:04.of rain