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[August 08, 2014]


(City A.M. (UK) Via Acquire Media NewsEdge) Companies warned on cyber risk An argument is raging about whether companies should be forced to disclose cyber attacks after researchers in Las Vegas for the Black Hat cybersecurity conference exposed flaws they argued could allow hackers to swipe credit card details from more than 600 retailers, remotely control technology in hotel rooms and trick airport security into believing someone is drugs-free.

Euro group propose Gaza monitoring Germany, the UK and France have proposed deploying a German-led, joint monitoring and verification mission on the Gaza Strip's borders to help bolster a durable peace and prevent future wars between Israel and Hamas. Word of the offer came as Egypt and the US worked in Cairo yesterday to secure an extension of the 72-hour ceasefire between Israel and Gaza, due to expire today at 8am.

Investors fleeing US junk bonds Investors have fled the US junk bond market in the past week, withdrawing a record amount from mutual funds and exchange traded funds that buy the high-yield securities. Despite being among the riskiest debt securities in markets, junk bonds - which are sold by companies with fragile balance sheets and a higher probability of default - have experienced a multi year bull run. Heavy selling continued over the past week as global markets sold off on worries over Ukraine.

News Corp sales fall after spin-off News Corp reported a fall in revenues and profits yesterday in its first full year after being spun off from Rupert Murdoch's film and television interests, with results being hit by foreign currency fluctuations, continued declines in newspaper advertising and the sale of a local newspaper group.

Mystery death of China customs chief Police are investigating the mysterious death of the deputy commissioner of customs in Qingdao, the Chinese port city at the centre of a metals scandal that has triggered fears of huge fraud and resonated in financial hubs around the world.

BT's wholesale bid foiled by judges BT has been foiled in a bid to force BSKYB to wholesale the Sky Sports channels before the start of the new Premier League season by top judges heading off on holiday. The telecoms giant took its arch rival to court last month, seeking a quick decision that could have given its television service a big boost by allowing customers to watch all live Premier League matches.

Russian cyber attack to cost £1.4bn A cyber attack by a Russian hacker group that resulted in the theft of 1.2bn internet credentials from major companies around the world could cost £1.4bn, according to an insurance group.

IBM's new chip mimics human brain IBM is claiming a major advance in emulating the brain in silicon. The technology giant has developed a microchip that simulates functions of neurons, synapses and other features of the brain to perform calculations.

Barnes & Noble to challenge Amazon Google said it will add Barnes & Noble to its Google Shopping Express service, which delivers products from retailers including Target, Costco and Staples to US consumers within hours, in a move seen to challenge Amazon's same day shipping initiative.

(c) 2014 City A.M.

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