Browse content similar to 28/06/2017. Check below for episodes and series from the same categories and more!
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they will replace the Republican health bill meaning it would not | :00:00. | :00:00. | |
have a majority. Time now for World Business Report. | :00:00. | :00:18. | |
Another big cyber hack brings yet more disruption to business | :00:19. | :00:20. | |
What more can they to do keep themselves safe? | :00:21. | :00:25. | |
Toshiba announces another delay in raising the cash it badly needs | :00:26. | :00:28. | |
Another huge cyber attack is affecting businesses and other | :00:29. | :00:42. | |
Those affected include banks, retailers, energy firms | :00:43. | :00:47. | |
It means many companies can't access their computer systems | :00:48. | :00:53. | |
and for some that means it's all but impossible to get | :00:54. | :00:56. | |
The virus was first detected in Ukraine on Tuesday but has | :00:57. | :01:00. | |
According to Russia based Kaspersky Labs more than 2,000 | :01:01. | :01:07. | |
users have been attacked so far but that number seems to be | :01:08. | :01:10. | |
When users switch their computers on they're being asked to pay | :01:11. | :01:15. | |
a ransom of $300 in the digital currency Bitcoin to get | :01:16. | :01:18. | |
It appears that so far almost $8,500 of payments have been made | :01:19. | :01:39. | |
Some of the world's biggest companies have been hit including | :01:40. | :01:46. | |
advertising giant WPP, US pharmaceuticals giants Merck | :01:47. | :01:48. | |
and Russia's biggest oil company Rosneft. | :01:49. | :01:49. | |
Also affected is the world's biggest shipping line - | :01:50. | :01:52. | |
It's ports in New York and New Jersey have been closed | :01:53. | :01:56. | |
as well as Europe's largest harbour in Rotterdam. | :01:57. | :01:58. | |
That means businesses face delays in moving their goods | :01:59. | :02:00. | |
Philip Ingram is the Chairman of Global Intelligence Insight | :02:01. | :02:04. | |
and a former British army intelligence officer - | :02:05. | :02:06. | |
These reports seem to become more frequent. What should businesses be | :02:07. | :02:20. | |
doing to protect themselves? The best place to get at vice is on the | :02:21. | :02:25. | |
national cybersecurity website in the UK. Followed ASIC rules. Back up | :02:26. | :02:35. | |
data frequency. Do patch ups on time. Make sure the executable | :02:36. | :02:40. | |
files, the files are injected the virus are limited only to certain | :02:41. | :02:46. | |
people with the right authorisation and they have the right neck and is | :02:47. | :02:52. | |
to make sure files should not be executed are executed. If it was | :02:53. | :02:57. | |
that straightforward and easy, why are not businesses doing it? There | :02:58. | :03:03. | |
are a couple of problems. There isn't the it will never happen to me | :03:04. | :03:09. | |
attitude. The second issue is that a lot of systems running the operating | :03:10. | :03:17. | |
system is not being patched any more buying Windows by debate cannot | :03:18. | :03:22. | |
update the system because of other software bespoke to their business. | :03:23. | :03:29. | |
If they update the Windows systems, he would have to almost rewrite the | :03:30. | :03:36. | |
system completely and that is very expensive. The immediate impact on | :03:37. | :03:41. | |
businesses is not been able to get work done but how damaging can this | :03:42. | :03:48. | |
be going forward? It can be fantastically damaging. The first | :03:49. | :03:53. | |
bit is reputational damage. Competitors will go to look for | :03:54. | :04:01. | |
somebody else. The actual physical cost of the business they are | :04:02. | :04:06. | |
losing. And thirdly, there will have to start to patch the systems and | :04:07. | :04:09. | |
look at rewriting the software to run their business and that will | :04:10. | :04:14. | |
cost them hundreds of thousands if not millions of dollars. What about | :04:15. | :04:22. | |
the impact on consumers? If there are issues with not being able to | :04:23. | :04:28. | |
get shipping goods in and out of ports, that will have an impact on | :04:29. | :04:34. | |
consumers? With most and the big companies, there is sufficient | :04:35. | :04:38. | |
capacity elsewhere to absorb it for a short period of time. Consumers in | :04:39. | :04:44. | |
banks and transport systems, with difficulties having access to cash | :04:45. | :04:49. | |
or tickets, flights being cancelled, that will have immediate impact. | :04:50. | :04:52. | |
Thank you very much for your time.. The Japanese conglomerate says it | :04:53. | :04:58. | |
hasn't been able to finalise a deal to sell it's memory chip business | :04:59. | :05:03. | |
to a government backed consoritum. It needs to do that to raise cash | :05:04. | :05:07. | |
after massive losses at it's Rico Hizon is in our | :05:08. | :05:10. | |
Asia Business Hub in Singapore Thank you for joining us. Another | :05:11. | :05:21. | |
disappointment for the troubled Japanese technology company. It was | :05:22. | :05:27. | |
hoping to sign a deal in time for today's shareholders meeting but | :05:28. | :05:32. | |
unfortunately it has failed. The latest delay is another bloke to | :05:33. | :05:36. | |
Toshiba's hope of being delisted from the Tokyo stock exchange. -- | :05:37. | :05:48. | |
another blow. The final stages of the sale have been thrown into | :05:49. | :05:59. | |
disarray after early bidder resubmitted joint offer but the | :06:00. | :06:04. | |
chief is against it saying the offer has monopoly issues and valuation is | :06:05. | :06:16. | |
not high enough. The car parts maker have filed for bankruptcy. What has | :06:17. | :06:25. | |
happened now? Investors are battling the share price of Takata. It is | :06:26. | :06:40. | |
freefalling, plunging by 70% after limits were removed following the | :06:41. | :06:44. | |
company 's bank received detection fighting in Japan and the US. Takata | :06:45. | :06:51. | |
Takata is facing $9 billion in liabilities and its stock price has | :06:52. | :06:57. | |
slumped more than 90% since June 16 after being suspended after | :06:58. | :07:01. | |
reporting the company was looking to seek protection from creditors. This | :07:02. | :07:11. | |
is the biggest since the post-war period in Japan. Began as a textile | :07:12. | :07:17. | |
when you factor, supply parachutes during World War Two to the Imperial | :07:18. | :07:24. | |
Army. Takata Takata Takata is the listed on July 22. | :07:25. | :07:33. | |
In other news: The International Monetary Fund has cuts its growth | :07:34. | :07:36. | |
forecasts for the US economy due to uncertainty | :07:37. | :07:38. | |
The IMF has cut this years expectation from 2.3% to 2.1% | :07:39. | :07:42. | |
It compares to the White House's target of 3% growth | :07:43. | :07:47. | |
The IMF said high employment rates made expansion hard and urged the US | :07:48. | :07:51. | |
to maintain it's commitment to free trade. | :07:52. | :07:55. | |
to maintain its commitment to free trade. | :07:56. | :07:57. | |
More than a quarter of the world's population is now using Facebook | :07:58. | :08:00. | |
every month according to the social platform's founder Mark Zuckerberg. | :08:01. | :08:03. | |
More than two billion people have now signed up to use it | :08:04. | :08:06. | |
since he created the company 13 years ago. | :08:07. | :08:08. | |
The huge user numbers have turned it into one of the world's most popular | :08:09. | :08:12. | |
platforms for businesses to advertise on but also led | :08:13. | :08:15. | |
to criticism over posts of illegal and violent material. | :08:16. | :08:17. | |
A hugely ambitious plan to provide broadband links from orbit to every | :08:18. | :08:20. | |
corner of the globe by satellite has begun in France. | :08:21. | :08:23. | |
The aerospace giant Airbus and its partner, OneWeb, | :08:24. | :08:25. | |
have started the production of a mega-satellite constellation | :08:26. | :08:27. | |
$1.7bn has already been raised to fund the network which will rely | :08:28. | :08:33. | |
on an intital 600 satellites that should be in orbit | :08:34. | :08:36. | |
Other companies are planning similar projects. | :08:37. | :08:47. | |
Before we go, let's have a look at what the markets have been up to. | :08:48. | :08:55. | |
The Japanese markets following what happened in the US yesterday. Most | :08:56. | :09:04. | |
are down. You are hearing David talking about issues of getting the | :09:05. | :09:07. | |
health-care bill through US Congress and that is partly what is bringing | :09:08. | :09:13. | |
these markets down. President Trump, when elected, saw the markets surge. | :09:14. | :09:21. | |
Deregulation, tax reform, infrastructure spending creating | :09:22. | :09:26. | |
boosts but it is now all starting to stall and bringing the markets down. | :09:27. | :09:32. | |
Let's move on and I can show you those American markets. Political | :09:33. | :09:42. | |
concerns bringing them down. We will keep an eye on those figures as we | :09:43. | :09:46. | |
go through the next couple of hours. | :09:47. | :09:49. |