A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London said in a report on Monday. The report, co-written with risk-modeling firm Cyence, examined potential economic losses from the hypothetical hacking […]
Read moreAs Turkey marks the first anniversary of a military coup aimed at ousting Turkish President Recep Tayyip Erdogan, the leader’s position appears ironclad. Rather than diminish his administration, the unsuccessful takeover of July 15-16, 2016 presented the head of state with a unique opportunity to consolidate power, allowing him to neutralize political opposition, strategists say. […]
Read moreChina’s top graft-buster launched a scathing attack on the ruling Communist Party’s members on Monday, writing that party political culture remained “unhealthy” and governance weak even after five years of renewed effort to fight the problem. The comments by Wang Qishan, who runs the party’s anti-corruption watchdog, came after sources said a senior official who […]
Read moreThe dollar tumbled in recent days, but analysts weren’t pointing to weaker-than-expected U.S. inflation data on Friday. Instead, they fingered a “Trump discount” as market-positive aspects of the administration’s agenda appeared to be missing in action. Richard Clarida, global strategic adviser at Pimco, the bond giant with around $1.6 trillion under management, told CNBC that […]
Read moreIt’s that time again: China’s second-quarter GDP growth beat analyst expectations on Monday, but markets stayed in the red, with little sign of strength even after the numbers surprised. Mainland markets traded in negative territory for the first half of the day, with the Shanghai Composite down almost 2.5 percent at one point and the […]
Read moreIBM has launched a new mainframe system capable of running more than 12 billion encrypted transactions per day, in a bid to wade further into the financial cybersecurity market. The mainframe, called IBM Z, seeks to address cyberattacks which have compromised financial data. It also aims to help firms automate financial regulatory compliance, in line […]
Read moreGeorge A. Romero, creator of the zombie film genre with “Night of the Living Dead” and a series of sequels that left a lasting impact on horror movies, died of lung cancer in a Toronto hospital on Sunday, his business partner said. He was 77. Romero wrote and directed the 1968 classic, in which the […]
Read moreWinnie the Pooh has been blacked out from Chinese social media in the lead-up to the country’s 19th Communist Party Congress this fall, the Financial Times reported Sunday. No official explanation was given, but the FT cited observers who said the crackdown may be related to past comparisons of the physical appearance of President Xi […]
Read moreThe United Arab Emirates orchestrated the hacking of a Qatari government news site in May, planting a false story that was used as a pretext for the current crisis between Qatar and several Arab countries, according to a Sunday report by The Washington Post. The Emirati Embassy in Washington released a statement in response calling […]
Read moreThe Australian government is seeking to broaden the powers of the country’s prudential regulator to include non-bank lenders as concerns about financial stability take center stage amid bubble risks in the nation’s sizzling property market. A draft legislation released by the government on Monday, if passed, will help the Australian Prudential Regulatory Authority (APRA) dial […]
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