:00:00. > :00:00.they will replace the Republican health bill meaning it would not
:00:00. > :00:18.have a majority. Time now for World Business Report.
:00:19. > :00:20.Another big cyber hack brings yet more disruption to business
:00:21. > :00:25.What more can they to do keep themselves safe?
:00:26. > :00:28.Toshiba announces another delay in raising the cash it badly needs
:00:29. > :00:42.Another huge cyber attack is affecting businesses and other
:00:43. > :00:47.Those affected include banks, retailers, energy firms
:00:48. > :00:53.It means many companies can't access their computer systems
:00:54. > :00:56.and for some that means it's all but impossible to get
:00:57. > :01:00.The virus was first detected in Ukraine on Tuesday but has
:01:01. > :01:07.According to Russia based Kaspersky Labs more than 2,000
:01:08. > :01:10.users have been attacked so far but that number seems to be
:01:11. > :01:15.When users switch their computers on they're being asked to pay
:01:16. > :01:18.a ransom of $300 in the digital currency Bitcoin to get
:01:19. > :01:39.It appears that so far almost $8,500 of payments have been made
:01:40. > :01:46.Some of the world's biggest companies have been hit including
:01:47. > :01:48.advertising giant WPP, US pharmaceuticals giants Merck
:01:49. > :01:49.and Russia's biggest oil company Rosneft.
:01:50. > :01:52.Also affected is the world's biggest shipping line -
:01:53. > :01:56.It's ports in New York and New Jersey have been closed
:01:57. > :01:58.as well as Europe's largest harbour in Rotterdam.
:01:59. > :02:00.That means businesses face delays in moving their goods
:02:01. > :02:04.Philip Ingram is the Chairman of Global Intelligence Insight
:02:05. > :02:06.and a former British army intelligence officer -
:02:07. > :02:20.These reports seem to become more frequent. What should businesses be
:02:21. > :02:25.doing to protect themselves? The best place to get at vice is on the
:02:26. > :02:35.national cybersecurity website in the UK. Followed ASIC rules. Back up
:02:36. > :02:40.data frequency. Do patch ups on time. Make sure the executable
:02:41. > :02:46.files, the files are injected the virus are limited only to certain
:02:47. > :02:52.people with the right authorisation and they have the right neck and is
:02:53. > :02:57.to make sure files should not be executed are executed. If it was
:02:58. > :03:03.that straightforward and easy, why are not businesses doing it? There
:03:04. > :03:09.are a couple of problems. There isn't the it will never happen to me
:03:10. > :03:17.attitude. The second issue is that a lot of systems running the operating
:03:18. > :03:22.system is not being patched any more buying Windows by debate cannot
:03:23. > :03:29.update the system because of other software bespoke to their business.
:03:30. > :03:36.If they update the Windows systems, he would have to almost rewrite the
:03:37. > :03:41.system completely and that is very expensive. The immediate impact on
:03:42. > :03:48.businesses is not been able to get work done but how damaging can this
:03:49. > :03:53.be going forward? It can be fantastically damaging. The first
:03:54. > :04:01.bit is reputational damage. Competitors will go to look for
:04:02. > :04:06.somebody else. The actual physical cost of the business they are
:04:07. > :04:09.losing. And thirdly, there will have to start to patch the systems and
:04:10. > :04:14.look at rewriting the software to run their business and that will
:04:15. > :04:22.cost them hundreds of thousands if not millions of dollars. What about
:04:23. > :04:28.the impact on consumers? If there are issues with not being able to
:04:29. > :04:34.get shipping goods in and out of ports, that will have an impact on
:04:35. > :04:38.consumers? With most and the big companies, there is sufficient
:04:39. > :04:44.capacity elsewhere to absorb it for a short period of time. Consumers in
:04:45. > :04:49.banks and transport systems, with difficulties having access to cash
:04:50. > :04:52.or tickets, flights being cancelled, that will have immediate impact.
:04:53. > :04:58.Thank you very much for your time.. The Japanese conglomerate says it
:04:59. > :05:03.hasn't been able to finalise a deal to sell it's memory chip business
:05:04. > :05:07.to a government backed consoritum. It needs to do that to raise cash
:05:08. > :05:10.after massive losses at it's Rico Hizon is in our
:05:11. > :05:21.Asia Business Hub in Singapore Thank you for joining us. Another
:05:22. > :05:27.disappointment for the troubled Japanese technology company. It was
:05:28. > :05:32.hoping to sign a deal in time for today's shareholders meeting but
:05:33. > :05:36.unfortunately it has failed. The latest delay is another bloke to
:05:37. > :05:48.Toshiba's hope of being delisted from the Tokyo stock exchange. --
:05:49. > :05:59.another blow. The final stages of the sale have been thrown into
:06:00. > :06:04.disarray after early bidder resubmitted joint offer but the
:06:05. > :06:16.chief is against it saying the offer has monopoly issues and valuation is
:06:17. > :06:25.not high enough. The car parts maker have filed for bankruptcy. What has
:06:26. > :06:40.happened now? Investors are battling the share price of Takata. It is
:06:41. > :06:44.freefalling, plunging by 70% after limits were removed following the
:06:45. > :06:51.company 's bank received detection fighting in Japan and the US. Takata
:06:52. > :06:57.Takata is facing $9 billion in liabilities and its stock price has
:06:58. > :07:01.slumped more than 90% since June 16 after being suspended after
:07:02. > :07:11.reporting the company was looking to seek protection from creditors. This
:07:12. > :07:17.is the biggest since the post-war period in Japan. Began as a textile
:07:18. > :07:24.when you factor, supply parachutes during World War Two to the Imperial
:07:25. > :07:33.Army. Takata Takata Takata is the listed on July 22.
:07:34. > :07:36.In other news: The International Monetary Fund has cuts its growth
:07:37. > :07:38.forecasts for the US economy due to uncertainty
:07:39. > :07:42.The IMF has cut this years expectation from 2.3% to 2.1%
:07:43. > :07:47.It compares to the White House's target of 3% growth
:07:48. > :07:51.The IMF said high employment rates made expansion hard and urged the US
:07:52. > :07:55.to maintain it's commitment to free trade.
:07:56. > :07:57.to maintain its commitment to free trade.
:07:58. > :08:00.More than a quarter of the world's population is now using Facebook
:08:01. > :08:03.every month according to the social platform's founder Mark Zuckerberg.
:08:04. > :08:06.More than two billion people have now signed up to use it
:08:07. > :08:08.since he created the company 13 years ago.
:08:09. > :08:12.The huge user numbers have turned it into one of the world's most popular
:08:13. > :08:15.platforms for businesses to advertise on but also led
:08:16. > :08:17.to criticism over posts of illegal and violent material.
:08:18. > :08:20.A hugely ambitious plan to provide broadband links from orbit to every
:08:21. > :08:23.corner of the globe by satellite has begun in France.
:08:24. > :08:25.The aerospace giant Airbus and its partner, OneWeb,
:08:26. > :08:27.have started the production of a mega-satellite constellation
:08:28. > :08:33.$1.7bn has already been raised to fund the network which will rely
:08:34. > :08:36.on an intital 600 satellites that should be in orbit
:08:37. > :08:47.Other companies are planning similar projects.
:08:48. > :08:55.Before we go, let's have a look at what the markets have been up to.
:08:56. > :09:04.The Japanese markets following what happened in the US yesterday. Most
:09:05. > :09:07.are down. You are hearing David talking about issues of getting the
:09:08. > :09:13.health-care bill through US Congress and that is partly what is bringing
:09:14. > :09:21.these markets down. President Trump, when elected, saw the markets surge.
:09:22. > :09:26.Deregulation, tax reform, infrastructure spending creating
:09:27. > :09:32.boosts but it is now all starting to stall and bringing the markets down.
:09:33. > :09:42.Let's move on and I can show you those American markets. Political
:09:43. > :09:46.concerns bringing them down. We will keep an eye on those figures as we
:09:47. > :09:49.go through the next couple of hours.