Reuters blog archive
from Thinking Global:
Amid the buzz in Washington about new North Korean nuclear threats, President Barack Obama late last week summoned 15 of America’s top financial leaders to the White House to discuss what his administration considers to be threats that are more pervasive, more persistent and less manageable ‑ cyber risks.
“The president scared the hell out of all of us, and we’re not easy to frighten,” said one member of the group, which included Goldman Sachs’s Lloyd C. Blankfein, JPMorgan Chase’s Jamie Dimon and Bank of America’s Brian T. Moynihan. “This isn’t like the nuclear threat, where it was really governments facing down governments. The American financial sector is a new battleground, and we’re going to have to invest millions of shareholders’ dollars to protect ourselves from what are essentially national actors.”
In this new world, cyber conflicts have already begun. But no one has written the rules of how they should be managed between government and private-sector responsibility.
Unlike typical national security crises, the private sector controls most of the levers that can decisively resolve cyber conflicts. Government maintains overall responsibility for national cyber defense, yet it hasn’t haven’t developed doctrines of response. Officials remain too constrained by internal processes, competing interests and lack of experience in settling national security problems in collaboration with the private sector.
from The Great Debate:
Last year, Congress failed to forge a workable framework for cybersecurity to protect the United States against a fast-growing national security and economic threat. Our cyber-networks remain dangerously vulnerable to outside attack and are the repeated targets of foreign governments intent on stealing the fruits of our intellectual and business efforts. Congress must address this crucial issue.
The threat to our critical infrastructure, national security and economic prosperity was laid out in a February report by Mandiant, a respected U.S. computer security firm. An elite unit of Chinese hackers affiliated with China’s People Liberation Army, the report concluded, is likely behind a wave of attacks on U.S. government and business computer systems.
from Ian Bremmer:
If you watched the third presidential debate this week, you got the sense that in the U.S.-China relationship, there are only good guys and bad guys, and all the bad guys are in China. The Americans are the valiant defenders of well-paying jobs; the Chinese are the ones who make tires so cheap it hurts the Americans. The Americans have a currency so free it’s the envy of the world; China’s is so manipulated it stunts competition the world over. But the squabbling isn’t limited to what you heard at the debate or just the two governments. It’s also happening between governments and private companies.
For years, Huawei, a Chinese telecom giant, has been trying to break into the U.S. market. Huawei wants to provide communication infrastructure to the U.S., but the U.S. wants to make sure Huawei, founded by former members of the People’s Liberation Army, isn’t actually a spy organization. Huawei claims to be just like any other Silicon Valley tech giant. U.S. intelligence agencies, despite finding no evidence of spying, view Huawei’s technology as too vulnerable to hackers. The House Intelligence Committee classified Huawei as a national security threat. State capitalism and the challenge it poses have expanded enough that the government is officially worried about them.
Palo Alto Networks, the network security company, that modernized the firewall with its web application inspection took a look at what people do at work by analyzing Internet traffic in over 2,000 organizations.
Seems a lot of people watch videos.
In fact, Palo Alto's semi-annual application usage and risk report says the bandwidth used by streaming video more than tripled to 13 percent from 4 percent in December 2011.
The epic global shifts of 2011 transformed the political, economic, and social landscape from Shanghai to Sao Paolo, Washington to Cairo. No leader (not even Vladimir Putin) is safe from the vagaries of social unrest; no economy (not even China’s) is unaffected by contagion from an over-leveraged, under-managed euro zone. No country (not even the United States) is immune from the threat of asymmetric attacks—anything from a terrorist bomb to cyber-warfare.
Volatility will be the rule, not the exception in 2012. What I call the emerging Archipelago World of fragmenting power, capital, and ideas is inherently unstable— as vulnerable to old conflicts and new threats as it is open to the dynamic entrepreneurship of rising powers and corporations remaking the map of the world.
Yahoo will pay $270 million for interclick as it tries to revive its ailing online advertising business, even as the search and advertising giant continues to scout for potential bidders. Yahoo is paying $9 per share, or about a 22 percent premium, for the online advertising technology firm. "It's not a transformational acquisition, but it helps Yahoo in a market they are not strong in ... they have to take some steps to keep pushing forward," BGC Partners analyst Colin Gillis said. Among the parties interested in Yahoo are private equity firms Silver Lake, TPG Capital, Bain Capital, Blackstone, Kohlberg Kravis Roberts, Providence Equity Partners, Hellman & Friedman, Carlyle Group, and Russian technology investment firm DST Global, apart from rivals Microsoft and Google.
from Reuters Investigates:
It seems every day brings news of another data breach, from defense firms to banks and even the U.S. Senate.
from Davos Notebook:
- Michael Fertik is the founder and CEO of Reputation.com, an online privacy and reputation management company. He is a member of the World Economic Forum Agenda Council on Internet Security and recipient of the WEF Technology Pioneer 2011 Award. The opinions expressed are his own. -
The World Economic Forum (WEF) has named cybersecurity one of the top five risks in the world. In its Global Risks 2011 report, the WEF's Risk Response Network nominated cybersecurity alongside planetary risks posed by demography, resource scarcity, trepidation about globalization, and, of course, WMDs. This is heady stuff. Cybersecurity has officially gone prime time. This week in Davos, I'll be moderating and contributing to panel sessions on this topic.
from Tales from the Trail:
Though North Korea and the the looming bankruptcy of General Motors are at the top of many minds in Washington, today President Barack Obama turns his public focus to cybersecurity and hurricane preparedness.
At 11 a.m. Obama speaks at an event at the White House about the country's cyber infrastructure. He may give some explanation of how powerful his new "cyberczar" may be - a question that has concerned the tech industry, which wants to top cybersecurity person to be based in the White House to assure access to the president.