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☆ JD Vance's Wall Street allies raise millions for the Trump campaign
▼ + stars: | 2024-09-11 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Wall Street relationshipsOne of Vance's earliest interactions with Wall Street came shortly after the November 2016 presidential election, when he headlined a lunch in New York to discuss his newly published memoir. John Underwood, a longtime managing director at Goldman Sachs, encouraged his allies to support and raise money for Vance's Senate campaign, according to people familiar with the matter. He told them the Trump campaign would need "hundreds of millions of dollars" to compete with Vice President Kamala Harris' fundraising surge. The Ohio Republican's opposition to Wall Street was on full display during the Republican National Convention in Milwaukee in July. "Wall Street barons crashed the economy and American builders went out of business," Vance said in his nomination acceptance speech.

Persons: Vance, Marco Bello, Sen, JD Vance, Donald Trump's, Scott Bessent, Morgan Stanley's Jonathan Burkan, Cantor Fitzgerald, Howard Lutnick, Norm Champ, Keith Rabois, Jacob Helberg, J.D, Champ, Sander Gerber, Gerber, Goldman Sachs, Ohio Republican Sen, Rob Portman, John Underwood, Underwood, Steve Case, Trump, Omeed Malik, Emil Henry, Henry, Bush, Ted Virtue, Woody Johnson, Clifford Sobel, Richard Kurtz, Kamala Harris, Harris, Malik, John Paulson, Reuben Jeffery III Organizations: Republican U.S, Reuters, Ohio, Trump, Vance, Securities and Exchange Commission, CNBC, Hudson, Hudson Bay Capital, Netflix, Allen & Company, Ohio Republican, Senate, AOL, Tiger Infrastructure Partners, New York Jets, Hamptons, Valor Capital, Rockefeller & Co, Wall, Republican National Convention Locations: Kenosha, Kenosha , Wisconsin, U.S, New York City, Hudson Bay, New York, Ohio, Sun Valley , Idaho, Washington, Milwaukee

☆ Delta lashes out at CrowdStrike for its ‘vastly inadequate’ apology
▼ + stars: | 2024-08-08 | by ( David Goldman | ) edition.cnn.com time to read: +4 min

Boies, hired to lead Delta’s lawsuit against CrowdStrike, said the tech company was “grossly negligent” and was solely responsible for the outage. But Boies called Delta’s IT systems “world class” and claimed Delta’s outage lasted longer because it was so heavily reliant on CrowdStrike and Microsoft. He also disputed the companies’ claims that Delta turned down help and worked around the clock to bring Delta back online. “CrowdStrike also did not work “tirelessly” to help Delta restore its systems,” Boies said. CrowdStrike said Delta ignored its help, and Microsoft said Delta’s mismanagement contributed to the cancellations.

Persons: Delta’s, David Boies, CrowdStrike, Delta, Boies, ’ ”, misstatements, ”, ” Boies, “ CrowdStrike, “, “ CrowdStrike’s, George Kurtz, David DeWalt, DeWalt, Ed Bastian, ” Bastian Organizations: CNN, ” Delta, Microsoft, Delta, LinkedIn, CNBC, “, US Department of Transportation Locations: Delta

☆ Microsoft lashes out at Delta: Your ancient tech caused the service meltdown
▼ + stars: | 2024-08-06 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +6 min

Microsoft also claimed Delta turned down help after the CrowdStrike bug led to “blue screens of death” on Windows devices. Microsoft, CrowdStrike and Delta have been in a war of words since the airline hired a high-profile attorney to seek compensation from Microsoft and CrowdStrike. Delta CEO Ed Bastian lashed out at CrowdStrike in a CNBC interview last week and said the computer problems cost Delta $500 million. While other airlines were quick to resume normal operations after the CrowdStrike outage, Delta was forced to cancel about 30% of its schedule over those five days, leaving an estimated half-million passengers stranded. Free consulting advice to help us,” said the Delta CEO in an interview on CNBC.

Persons: cancelations, Delta, Ed Bastian, CrowdStrike, Mark Cheffo, “, ”, Satya Nadella, Bastian, you’ve, ” Bastian, David Boies, George Kurtz, Michael Carlinsky, —, CNN’s Chris Isidore Organizations: New, New York CNN, Microsoft, Delta Air Lines, CNBC, Delta, IBM, CNN, CrowdStrike Locations: New York, CrowdStrike, Delta

Mark Cheffo, a Dechert partner representing Microsoft, sent a letter Tuesday to attorney David Boies of Boies Schiller Flexner. Boies represents Delta and had sent letters on behalf of the airline to CrowdStrike and Microsoft. Cheffo wrote in his response that Microsoft empathizes with Delta and its customers on the impact of the CrowdStrike incident. Cheffo wrote that Microsoft offered to help Delta for free. Cheffo described a letter on July 22, from Microsoft to a Delta employee, offering help.

Persons: Ed Bastian, CNBC's, Mark Cheffo, David Boies, Boies Schiller, Boies, Hossein Nowbar, Cheffo, Delta, Satya Nadella, Bastian, CrowdStrike, George Kurtz Organizations: Microsoft, Delta Air Lines, Delta, IBM, Web Services Locations: Boies, Delta, Atlanta

☆ CrowdStrike fires back at Delta, claiming the airline ignored offers of help during service meltdown
▼ + stars: | 2024-08-05 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

New York CNN —CrowdStrike fired back at Delta after the airline’s CEO lashed out at the cybersecurity firm for computer problems that he said cost Delta $500 million. CrowdStrike claimed Delta would have to explain its own IT shortcomings in any litigation, and that it ignored CrowdStrike’s offers of assistance. But last week, Bastian claimed CrowdStrike was nowhere to be found during the meltdown. Free consulting advice to help us,” said the Delta CEO in an interview on CNBC. It said Delta would have to explain why other airlines restored operations faster and why it turned down CrowdStrike’s onsite assistance.

Persons: New York CNN — CrowdStrike, CrowdStrike, CrowdStrike’s, ” CrowdStrike, George Kurtz, Ed Bastian, “, Michael Carlinsky, —, Bastian, ”, you’ve, ” Bastian, David Boies, CNN’s Chris Isidore Organizations: New, New York CNN, Delta, CNBC, CNN, Microsoft Locations: New York, Delta, CrowdStrike

Travelers wait in line, as a flight board shows delays, on the check-in floor of the Delta Air Lines terminal at Los Angeles International Airport (LAX) on July 23, 2024 in Los Angeles, California. CrowdStrike on Sunday said Delta Air Lines had rejected onsite help during last month's massive outage that sparked thousands of flight cancellations. Delta CEO Ed Bastian told CNBC's "Squawk Box" last week that the mass cancellations following the outage, which occurred at one of the busiest times of the year, cost the company about $500 million, including customer compensation. In response, Michael Carlinsky, CrowdStrike lawyer and co-managing partner at Quinn Emanuel Urquhart & Sullivan wrote to Delta's lawyer David Boies on Sunday that Delta's litigation threats "contributed to a misleading narrative that CrowdStrike is responsible for Delta's IT decisions and response to the outage." He said CrowdStrike's CEO George Kurtz reached out to Bastian to "offer onsite assistance, but received no response."

Persons: CrowdStrike, Ed Bastian, CNBC's, Bastian, Boies Schiller, Michael Carlinsky, Quinn Emanuel Urquhart, Sullivan, David Boies, George Kurtz Organizations: Delta Air Lines, Los Angeles International Airport, Microsoft Locations: Los Angeles , California

☆ CrowdStrike is sued by shareholders over huge software outage
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: +2 min

CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers. The complaint cites statements including from a March 5 conference call where Kurtz characterized CrowdStrike's software as "validated, tested and certified." Delta Chief Executive Ed Bastian told CNBC on Wednesday that the outage cost his airline $500 million, including lost revenue and compensation and hotels for stranded fliers. CrowdStrike shares closed on Wednesday down $1.69 at $231.96. The case is Plymouth County Retirement Association v CrowdStrike Inc et al, U.S. District Court, Western District of Texas, No.

Persons: George Kurtz, CrowdStrike, David Boies, Kurtz, " Kurtz, Burt Podbere, Ed Bastian Organizations: Crowdstrike Holdings Inc, Bloomberg Technology, RSA Conference, U.S . Congress, Delta Air Line, Retirement Association of, Delta, CNBC, Retirement, Western District of Locations: San Francisco , California, Austin , Texas, Austin, Plymouth, Retirement Association of Plymouth , Massachusetts, U.S, Western District, Western District of Texas

☆ Jim Cramer calls the bottom in CrowdStrike stock after global IT outage fallout
▼ + stars: | 2024-07-29 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

The worst is over for CrowdStrike shareholders after steep losses tied to the major global IT outage caused by the company, CNBC's Jim Cramer predicted Monday. "I think it's the bottom" in CrowdStrike's stock price, Cramer said Monday on "Squawk on the Street," shortly before the opening bell. Shares of CrowdStrike were higher in the premarket and added more than 3% in early regular trading. CRWD mountain 2024-07-18 CrowdStrike since close July 18, day before global IT outage The declines "were not an overreaction because [the IT outage] was really bad," Cramer said. Some Wall Street analysts also have recently come to CrowdStrike's defense, Cramer pointed out.

Persons: CNBC's Jim Cramer, Cramer, George Kurtz, Morgan Stanley Organizations: CNBC, Club, Palo Alto Networks, Microsoft, Analysts Locations: CrowdStrike

☆ Stocks making the biggest moves premarket: Coursera, WW International, DexCom, Deckers and more
▼ + stars: | 2024-07-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Dexcom — The medical device stock plummeted more than 36% after the company posted a second-quarter revenue miss. The company's $579 million revenue was also lower than the consensus estimate of $597 million. Coursera — The online course provider stock surged 26% after Coursera posted second-quarter revenue of $170 million, which exceeded the $164 million analysts had expected, according to LSEG. 3M — The industrials giant added nearly 7% after posting second-quarter adjusted earnings of $1.93 and adjusted revenue of $6.02 billion. Charter's $13.69 billion revenue also exceeded the $13.59 billion analysts had expected.

Persons: George Kurtz, LSEG, Dexcom, Boston Beer, Coursera, Bristol Myers, Morgan Stanley, —, Alex Harring, Sarah Min, Jesse Pound Organizations: Semiconductor, Nvidia, Broadcom, Devices, Qualcomm, Micron Technology, Boston Beer, Boston, Mohawk Industries, Mohawk, Bristol Myers Squibb, Bristol, Revenue, Norfolk Southern, Charter Communications

☆ CrowdStrike CEO says 97% of Windows sensors back online after major outage
▼ + stars: | 2024-07-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Harun Ozalp | Anadolu | Getty ImagesCrowdStrike CEO George Kurtz said that over 97% of Windows sensors are back online after an update from the cybersecurity firm caused one of the world's biggest IT outages. Last week, CrowdStrike issued a routine update to its users around the world — which mainly comprise large businesses — that had a bug which caused Microsoft's Windows operating system to crash. Many users woke up on Friday to a blue screen error on Windows. The company's share price has been hammered since the incident, as CEO Kurtz looks to contain the reputational fallout. "I am deeply sorry for the disruption this outage has caused and personally apologize to everyone impacted.

Persons: Harun Ozalp, George Kurtz, Kurtz, CrowdStrike Organizations: Microsoft, Anadolu, Getty, LinkedIn Locations: Ankara, Turkey

☆ Cramer's Lightning Round: Dell is a buy
▼ + stars: | 2024-07-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Dell's year-to-date stock performance. Dell : "[buy, buy, buy!] Stock Chart Icon Stock chart icon Five Below's year-to-date stock performance. Stock Chart Icon Stock chart icon Toyota's year-to-date stock performance. Stock Chart Icon Stock chart icon CrowdStrike's year-to-date stock performance.

Persons: They've, Kurtz, I'm, Jim Cramer's Organizations: Dell, Toyota, Networks Locations: Alto

☆ CrowdStrike's crisis management strategy holds lessons for all companies
▼ + stars: | 2024-07-25 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

He believed Kurtz deserves credit for quickly engaging the media on Friday, apologizing, and promising solutions — even if social media users say the apology didn't come fast enough. The steps to take in a crisisGood crisis management can be boiled down to a few simple yet crucial steps, the two experts told BI. But as disruption from the CrowdStrike outage slowly lessens, many are still concerned by the in-built potential of technology-reliant systems crashing, bringing down all operations with them. Griffin said his company, which provides crisis management software, is now reviewing its plans and policies to prevent the kind of tech failure CrowdStrike experienced. "The bottom line is that crisis management is not a check the box; it is an evolution and requires continuous training, exercising, and learning to improve, especially as the nature of threats and types of incidents evolve."

Persons: —, CrowdStrike, George Kurtz, Kurtz, Getty, Shawn Henry —, Sean Griffin, Griffin, Peer, it's Organizations: Service, Microsoft, Business, Windows, Madrid, Barajas, Europa Press, Disaster Tech

☆ How CrowdStrike caused a global IT meltdown and what comes next
▼ + stars: | 2024-07-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +24 min

But this was not a Microsoft issue. Tom ChittyWe're going to talk more about who CrowdStrike are, I think, you know, some people would probably never have heard of CrowdStrike. Lots and lots and lots of global businesses rely on CrowdStrike for their security. I had first seen that and thought it was a Microsoft issue, the reason why Windows crashed on my PC. It was a CrowdStrike issue.

Persons: Tom Chitty, We'll, I've, Arjun Kharpal, you've, Tom Chitty We're, let's, Arjun Kharpal CrowdStrike, George Kurtz, Kharpal, CrowdStrike, they're, it's, they've, Tom Chitty Well, what's, Arjun Kharpal We'd, Iyou, It's, who've, there's, Ciaran Martin, Patrick Anderson, Arjun, Tom, Tom Chitty We'll Organizations: Microsoft, Industries, CNBC, Netflix, NBC, Sky News, Tom Chitty Airlines, Civil Aviation, CrowdStrike, U.S, Board, U.S . Homeland Security Department, Google, National Cybersecurity Center, Anderson Economic Group, CNN Locations: U.S, beyondthevalley@cnbc.com, CNBC's London, London, Europe, China, Russia, Arjun Kharpal China, Moscow, what's, Michigan

☆ CrowdStrike says bug in quality control process led to botched update
▼ + stars: | 2024-07-24 | by ( ) www.cnbc.com time to read: +2 min

A CrowdStrike software update that crashed computers globally last week hitting services from aviation to banking and healthcare was caused by a bug in the U.S. cybersecurity firm's quality control mechanism, the company said on Wednesday. "Due to a bug in the Content Validator, one of the two Template Instances passed validation despite containing problematic content data," CrowdStrike said in a statement, referring to the failure of an internal quality control mechanism that allowed the problematic data to slip through the company's own safety checks. CrowdStrike did not say what that content data was, nor why it was problematic. CrowdStrike said it had added a "new check" to its quality control process in a bid to prevent the issue from occurring again. Wednesday's statement was in line with a widely held assessment from cybersecurity experts that something in CrowdStrike's quality control process had gone badly wrong.

Persons: CrowdStrike, George Kurtz Organizations: Rome Fiumicino, Microsoft, U.S . House, Representatives Homeland Locations: Rome, Italy, U.S

☆ CNBC Daily Open: Wall Street looks past political uncertainty
▼ + stars: | 2024-07-23 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tech reboundThe S&P 500 posted its biggest gain since June 5, recovering from its worst weekly slide since April, as tech stocks rebounded led by Nvidia. The move allows Warner Bros. to retain some of its NBA broadcasting rights. However, the NBA may not want Warner Bros. as a media rights partner and could reject the company's matching rights, which could lead to a legal tussle.

Persons: Russell, CrowdStrike, George Kurtz, Mark Green, Andrew Garbarino, Berkshire Hathaway, Walter Cho, Joe Biden's, Kamala Harris Organizations: CNBC, Tech, Nvidia, Nasdaq, Dow Jones Industrial, Homeland Security, Microsoft, Delta Air Lines, Buffett, Warren, Bank of America, Apple, Boeing, Korean Air, Farnborough, NBA, Warner Bros, Discovery, National Basketball Association, Amazon Prime, Trump Locations: U.S, Berkshire

☆ CNBC Daily Open: Tech rebounds, CrowdStrike tumbles, Wiz rejects Google
▼ + stars: | 2024-07-23 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wiz walks awayCloud security startup Wiz rejected a $23 billion acquisition offer from Google, opting instead to pursue an IPO. The move allows Warner Bros. to retain some of its NBA broadcasting rights. However, the NBA may not want Warner Bros. as a media rights partner and could reject the company's matching rights, which could lead to a legal tussle.

Persons: Kamala Harris, Russell, CrowdStrike, George Kurtz, Mark Green, Andrew Garbarino, Wiz, Hai Precision Industry —, Hong Organizations: New York Stock Exchange, CNBC, Tech, Nvidia, Nasdaq, Dow Jones Industrial, Homeland Security, Microsoft, Delta Air Lines, Google, NBA, Warner Bros, Discovery, National Basketball Association, Amazon Prime, Taiwan Semiconductor Manufacturing Corp, Hai Precision Industry, CSI, U.S Locations: New York City, U.S, Asia, Pacific, Taiwan

☆ CrowdStrike shares tumble as fallout from global tech outage continues
▼ + stars: | 2024-07-22 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

CrowdStrike shares slipped as much as 13% on Monday morning, as the cybersecurity software company continued to help clients across industries recover from an outage that took millions of Microsoft Windows devices offline last week. The incident ensnared 8.5 million Windows devices, less than 1% of the global total, Microsoft said. CrowdStrike shares fell 11% on Friday, but the fallout was not over yet. Guggenheim Securities downgraded its rating on CrowdStrike shares to neutral from buy on Sunday. Goldman Sachs maintained their buy rating on CrowdStrike shares in a note issued early Monday.

Persons: George Kurtz, CrowdStrike, CNBC's Jim Cramer, John DiFucci, Goldman Sachs, Gabriela Borges, Dave DeWalt Organizations: Microsoft, Guggenheim Securities, McAfee, Intel Locations: Laguna Beach , California, U.S, CrowdStrike

☆ CrowdStrike outage: What we know 4 days after a software update brought down computer systems around the world
▼ + stars: | 2024-07-22 | by ( Zoe Sottile | ) edition.cnn.com time to read: +7 min

CNN —Four days after a faulty software update from a cybersecurity company unexpectedly brought down computers and technical systems across the world, airlines and some other companies are still experiencing delays and other technical problems. The outage was related to a software update rolled out by CrowdStrike, a major US cybersecurity firm. The issue is specific to Falcon, one of CrowdStrike’s main software products, and is not impacting Mac or Linux operating systems, according to the advisory. US-based carriers American Airlines, United Airlines, Delta Air Lines, Allegiant Airlines, SunCountry and Frontier Airlines all reported issues on Friday. More than 1,200 Delta flights were canceled on Sunday, after the carrier canceled 1,208 flights on Saturday, according to FlightAware.

Persons: ” –, Patrick Anderson, —, CrowdStrike, “, George Kurtz, Kurtz, Crowdstrike, United, Delta, Pete Buttigieg, Ed Bastian, ” Buttigieg, Bastian, it’s, David Kennedy, “ It’s, ” Kennedy, “ There’s, Buttigieg, Brigham, Dana Organizations: CNN, Microsoft, Anderson Economic Group, Fortune, Travelers, Marriott International, American Airlines, United Airlines, Delta Air Lines, Allegiant Airlines, Frontier Airlines, Delta Airlines, Delta, Delta Air, Department, Turkish Airlines, Jetstar, Hong Kong Express, Cebu Pacific, Binary Defense, Mass, Penn Medicine, Mount, Mount Sinai Health, Emory Healthcare, Farber Cancer Institute, New, Memorial Sloan Kettering Cancer Center, Government, Social Security, Department of Motor Vehicles, UPS, FedEx Locations: Delta, FlightAware, Jetstar Japan, Hong, Massachusetts, Pennsylvania, Mount Sinai, New York, Atlanta, Boston, Arizona, Alaska, Washington ,

☆ Congress Calls for Tech Outage Hearing to Grill Executive
▼ + stars: | 2024-07-22 | by ( David Mccabe | More About David Mccabe | ) www.nytimes.com time to read: +1 min

A Congressional committee called on the chief executive of CrowdStrike to testify at a hearing about its role in a tech outage that roiled the global economy, in one of the first attempts to hold the cybersecurity company responsible. CrowdStrike sent a faulty security update to its customers Thursday night, resulting in millions of Microsoft Windows devices shutting down and disruptions to airlines, hospitals, logistics companies and others. Americans “deserve to know in detail how this incident happened and the mitigation steps CrowdStrike is taking,” wrote Representative Mark Green of Tennessee, the Republican chairman of the Homeland Security Committee, and Representative Andrew Garbarino, Republican of New York. The letter was sent to George Kurtz, CrowdStrike’s chief executive. Mr. Green and Mr. Garbarino asked the company for a response to scheduling the hearing this week, but did not specify when it would take place.

Persons: CrowdStrike, “, ”, Mark Green of, Andrew Garbarino, George Kurtz, . Green, Garbarino Organizations: Microsoft, Homeland Security Committee, Republican Locations: Mark Green of Tennessee, New York

☆ Republican representatives call on CrowdStrike CEO George Kurtz to testify
▼ + stars: | 2024-07-22 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Republican representatives on Monday called on CrowdStrike CEO George Kurtz to testify in front of the House Committee on Homeland Security, days after the company issued a faulty software update that crashed millions of Microsoft Windows devices. The outage caused disruptions across "key functions" of the global economy, including banking, aviation, health care, emergency services and media, the lawmakers said. Kurtz said Friday that the outage was not a cyberattack or security incident, and CrowdStrike deployed a fix that day. Green and Garbarino asked CrowdStrike to set up a hearing with the Subcommittee on Cybersecurity and Infrastructure Protection by Wednesday at the latest. CrowdStrike and Microsoft did not immediately respond to CNBC's request for comment.

Persons: George Kurtz, Mark Green, Andrew Garbarino, Garbarino, Kurtz, CrowdStrike Organizations: Microsoft Corp, Homeland Security, Microsoft, Protection Locations: New Delhi, India, U.S

☆ More flight cancellations are expected as airlines gradually recover from global tech outage
▼ + stars: | 2024-07-21 | by ( Dalia Faheid | ) edition.cnn.com time to read: +8 min

CNN —Additional flight cancellations are expected through this weekend as airlines gradually recover from a global tech outage that has left thousands of passengers stranded at airports. The outage “has basically turned computers into bricks around the world,” Glenn Gerstell, former general counsel of the US National Security Agency, told CNN Saturday. More than 400 United flights were canceled Saturday, and over 200 flights were canceled Sunday, according to FlightAware.com. “I was supposed to be in California for my mom’s wedding,” Richard Whitfield of Pasco County, Florida, told CNN Saturday. They didn’t tell me – I had no notification, nothing,” Charlotte Yeh told CNN affiliate WFXT on Saturday.

Persons: ” Glenn Gerstell, ” Gerstell, ” CrowdStrike, George Kurtz, ” United, Delta, “, Allegiant, it’s, David Kennedy, “ It’s, ” Kennedy, “ There’s, Pete Buttigieg, ” Buttigieg, Justin Tallis, Villareal, ” Villareal, we’ve, ” Richard Whitfield, Whitfield, Jonathan Shade, Richard, ” Shade, Shade, ”, –, ” Charlotte Yeh, “ We’ve, ” Marc Forbes, WFXT, ” Carol Edwards Organizations: CNN, Microsoft, US National Security Agency, United Airlines, Delta Air, American Airlines, Binary Defense, US Department of Transportation, ”, Gatwick Airport, Getty, Atlanta’s Hartsfield, Jackson International Airport, Delta Air Lines, Boston Logan International, WFXT, Las Locations: Horley, London, California, Pasco County , Florida, Tampa, Atlanta, Tallahassee, Delta, Fort Lauderdale, Ft . Lauderdale, West Palm, Boston, Las Vegas

☆ Costs from the global outage could top $1 billion – but who pays the bill is harder to understand
▼ + stars: | 2024-07-21 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —The world learned relatively quickly that cybersecurity firm CrowdStrike was behind a crippling global tech outage on Friday. Billion-dollar billExperts largely agree it’s too early to get a firm handle on the price tag for Friday’s global internet breakdown. His firm estimates that a recent hack of CDK Global, a software firm that serves US car dealerships, reached that $1 billion cost mark. It’s also not clear how many customers CrowdStrike might lose because of Friday. It will be difficult, and not without additional costs, for many customers to switch from CrowdStrike to a competitor.

Persons: CrowdStrike, ”, you’re, Dan Ives, it’s, Patrick Anderson, Anderson, Harry Reid, Ty ONeil, “, James Lewis, Lewis, It’s, Wedbush Securities ’, ” Ives, George Kurtz, ’ ”, Eric O’Neill Organizations: New, New York CNN, CNN, Wedbush Securities, Anderson Economic Group, Harry, Harry Reid International Airport, Microsoft, Center for Strategic, International Studies, SolarWinds, Exchange Commission, CNBC Locations: New York, Michigan, Russian, CrowdStrike

☆ Malicious actors trying to exploit global tech outage for their own gain
▼ + stars: | 2024-07-20 | by ( ) www.cnbc.com time to read: +1 min

As the world continues to recover from massive business and travel disruptions caused by a faulty software update from cybersecurity firm CrowdStrike , malicious actors are trying to exploit the situation for their own gain. "We know that adversaries and bad actors will try to exploit events like this," Kurtz said in a statement. Microsoft said 8.5 million devices running its Windows operating system were affected by the faulty cybersecurity update Friday that led to worldwide disruptions. That's less than 1% of all Windows-based machines, Microsoft cybersecurity executive David Weston said in a blog post Saturday. He also said such a significant disturbance is rare but "demonstrates the interconnected nature of our broad ecosystem."

Persons: George Kurtz, Kurtz, David Weston Organizations: Changi Airport, Microsoft, Government cybersecurity, Cyber Security Center Locations: Changi, Singapore

☆ This is the 2nd time CrowdStrike CEO George Kurtz has been at the center of a global tech failure
▼ + stars: | 2024-07-20 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

A faulty update from CrowdStrike caused a global tech outage on Friday. CrowdStrike CEO George Kurtz has been down this road before. As CTO of McAfee in 2010, Kurtz was at the center of another similar tech debacle. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: CrowdStrike, George Kurtz, Kurtz, — Organizations: McAfee, Service, Microsoft, Business

☆ Global IT outage leaves thousands stranded at airports amid chaos at hospitals, government agencies and 911 systems
▼ + stars: | 2024-07-20 | by ( Dalia Faheid | ) edition.cnn.com time to read: +10 min

All flights were grounded for United Airlines, Delta Air Lines, American Airlines and Allegiant Airlines on Friday. Meanwhile, thousands of companies around the world are struggling with payment processing after the outage brought down systems across a wide range of businesses. Airlines, banks, TV channels and other businesses were disrupted worldwide on Friday following a major computer systems outage linked to an update on an antivirus program. In addition to hospitals, blood donation centers have experienced challenges and are altering blood shipment methods due to flight delays. The Social Security Administration closed its local offices to the public on Friday after the outage shut down numerous services.

Persons: ”, “, Kiah Hampton, Hampton, Jennifer Small, ” Small, Ty Kelley, “ I’m, Miya Haney, Dave DeWalt, George Kurtz, ” Kurtz, Etienne Laurent, Kim Brown, ” Brown, Laura Topete, ” Topete, Ted Wheeler, Kathy Hochul Organizations: CNN, Microsoft, United Airlines, Delta Air Lines, American Airlines, Allegiant Airlines, Airlines, Atlanta’s Hartsfield, Jackson International Airport, ” Spirit Airlines, Shipping, UPS, FedEx, Marriott International, Hilton, McAfee, Infrastructure Security Agency, Delta Airlines, Getty, Kaiser Permanente, Health, Hospital Medical, Epic Systems, US Department of Health, Human Services, York Blood Center, Angeles, Superior Court, Department, ”, United States Customs, Border Protection, CBP, Social Security Administration, US Department of Justice Locations: United States, Los Angeles, ” New Jersey, Jersey, Philadelphia, Boston, Alaska, Phoenix, New York City, Texas , Tennessee, North Carolina, Georgia, Airlines, Kaiser, San Jose , California, Portland , Oregon, Southern California, San Diego County, Arizona, Maricopa County, New York

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