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Microsoft President Brad Smith has urged Donald Trump to protect the US from Russian, Chinese, and Iranian cyber attacks. He said that Joe Biden's administration had made "tremendous progress" on the issue, but added that more steps were needed to dissuade and deter countries from "unleashing these cyber attacks." Smith's appeals come as the US faces an ongoing wave of cyber attacks that have targeted government agencies, election campaigns, and businesses. and in some cases even facilitated" such attacks, Smith told the FT. The review found that a Microsoft security breach by a Chinese-affiliated hacking group in 2023 was "preventable and should never have occurred."
Persons: Donald Trump, Cybersecurity, Smith, Brad Smith, Trump, Joe Biden's, Christopher Wray, cyberattacks, Satya Nadella Organizations: Microsoft, Financial Times, Cyber Safety Locations: Russia, China, Iran
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
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. AdvertisementMicrosoft has reportedly decided to block employees from using Android devices to access its corporate platforms because Google's mobile services, including its Google Play app store, are unavailable in China. That leaves Apple's app ecosystem as the only place for Microsoft employees in China to download and use the Microsoft Authenticator and Identity Pass apps, according to the report. AdvertisementA Microsoft spokesperson previously told Business Insider that "recent events have demonstrated a need to adopt a new culture of engineering security in our own networks."
Persons: , Charlie Bell Organizations: Service, Bloomberg, Microsoft, Apple, Business, Future Initiative, Google, Android, US, State Department Locations: China
The decision by Microsoft to link executive compensation to successful cybersecurity performance is another is prompting discussions at other firms. One change the tech giant is making in response: linking executive compensation more closely to cybersecurity. In recent years, many Fortune 500 companies, including Apple, have added bonus pay tied to ESG metrics. The conversations about cybersecurity-linked executive pay have started taking place at other companies since Microsoft made its move, according to Aalap Shah, managing director at executive compensation consultant Pearl Meyer. Madnick's research shows that gaps in corporate culture are often culprits in high-profile hacks, not just the Microsoft example.
Persons: Brad Smith, Charlie Bell, Aalap Shah, Pearl Meyer, It's, I've, Shah, , Stuart Madnick, Madnick, Ryan Kalember, unavoidability, Jen, Kalember, ransomware, Mike Doonan, Doonan Organizations: Microsoft, U.S, Hill, Google, U.S . Department of Homeland, Initiative, Microsoft Security, Team, Companies, Fortune, Apple, MIT, Infrastructure Security Agency, CNBC, Technology, State Department Locations: China, Russia, cybersecurity, U.S
Brad Smith, vice chair and president of Microsoft, speaks at Gateway Technical College in Sturtevant, Wisconsin, on May 8, 2024. A House committee wants Microsoft 's top lawyer, Brad Smith, to attend a hearing this month on exploits of the company's software that resulted in hackers obtaining U.S. government officials' emails. A proposed hearing before the House Committee on Homeland Security, at 10 a.m. But Smith might not necessarily show up at the time the committee asked about in a letter it sent him on Thursday. Committee chairman Mark Green, R-Tenn., and Bennie Thompson, D-Miss., said in their letter inviting Smith to the hearing that they were encouraged by the company's plans to overhaul its security practices.
Persons: Brad Smith, Gina Raimondo, Don Bacon, Nicholas Burns, Smith, We're, Satya Nadella, Charlie Bell, Mark Green, Bennie Thompson, Green, Thompson, Chris Krebs Organizations: Microsoft, Gateway Technical College, Homeland Security, Rep, CNBC Locations: Sturtevant , Wisconsin, Washington, U.S, China
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChina and Russia keep finding ways to get past Microsoft's security systems. Advertisement"Midnight Blizzard's successful compromise of Microsoft corporate email accounts and the exfiltration of correspondence between agencies and Microsoft presents a grave and unacceptable risk to agencies," CISA wrote in its emergency directive. AdvertisementLast week, the US Department of Homeland Security released a report from the Cyber Safety Review Board (CSRB) detailing a "cascade" of "avoidable errors" in the company's security systems. A Microsoft spokesperson told BI of the latest Russian attack: "As we discover secrets in our exfiltrated email, we are working with our customers to help them investigate and mitigate.
Persons: , CISA, Jen Organizations: Service, Infrastructure Security Agency, Microsoft, Business, Blizzard, Midnight Blizzard, US Department of Homeland Security Locations: China, Russia, Russian, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft needs to prioritize security over feature development: Former CISA Director Chris KrebsChris Krebs, SentinelOne chief public policy officer and former Cybersecurity and Infrastructure Security Agency director, joins 'Squawk Box' to discuss the new U.S. Cyber Safety Review Board report that blames Microsoft over its handling of a Chinese hack involving the breach of emails of U.S. officials, what Microsoft can do to respond to future cybersecurity threats, and more.
Persons: Chris Krebs Chris Krebs, SentinelOne Organizations: Microsoft, Infrastructure Security Agency
3 things rattling markets this week
  + stars: | 2024-04-04 | by ( Krystal Hur | ) edition.cnn.com   time to read: +7 min
The S&P 500 tumbled the first two trading days of the new quarter and is down 0.8% for the week after paring back some of its losses on Wednesday. Some Fed officials revealed at the central bank’s policy meeting last month that they see fewer rate cuts than the three they forecast last December for 2024. Traders see a 63% expectation that the Fed cuts rates in June, a drop from more than 70% a week earlier, according to the CME FedWatch Tool. “With Middle East tensions on the rise, OPEC+ supply side measures have pushed crude oil volatility down,” BofA strategists wrote in a Wednesday report. “Adding to a complex backdrop, we now estimate that improving economic growth expectations have helped push global oil markets into a deficit.”The price of gold has also climbed this week.
Persons: New York CNN — Stocks, , , Brent Schutte, Jerome Powell, , Loretta Mester, Raphael Bostic, Brent, Michael Shvartsman, Gerald Shvartsman, Donald Trump’s, Matt Egan, “ Michael, ” Damian Williams, Bruce Garelick, ” Williams, ” Read, Joe Biden, Sean Lyngaas, China Nicholas Burns, Antony Blinken, Read Organizations: CNN Business, Bell, New York CNN —, Treasury, FactSet, Northwestern Mutual Wealth Management, Hawkish, San Francisco Fed, Stanford University, Wednesday, • Cleveland Fed, Atlanta Fed, CNBC, Traders, Organization of, Petroleum, West Texas, Brent, Bank of America, Trump Media, Trump Media & Technology Group, DWAC, Southern, of, Acquisition Corporation, , Microsoft, US, Department of Homeland Security, CNN Locations: New York, OPEC, Florida, of New York, Washington, China
Microsoft's security systems are inadequate and need an "overhaul," a government report found. Security flaws in Microsoft's systems let Chinese hackers breach the company's networks last summer, DHS found. Microsoft needs to seriously improve its systems for the sake of national security, the report says. AdvertisementMicrosoft's security culture needs work, a government-backed cybersecurity board says in a new report. In it, the board details a "cascade" of "avoidable errors" in Microsoft's security systems.
Persons: , Gina Raimondo, Nicholas Burns, Don Bacon Organizations: DHS, Microsoft, Service, US Department of Homeland Security, Storm, United, Business Locations: China, United States, People's Republic of China
Washington CNN —Microsoft committed a “cascade” of “avoidable errors” that allowed Chinese hackers to breach the tech giant’s network and later the email accounts of senior US officials last year, including the secretary of commerce, a scathing US government-backed review of the incident has found. In particular, the review board faulted Microsoft (MSFT) for not adequately protecting a sensitive cryptographic key that allowed the hackers to remotely sign into their targets’ Outlook accounts by forging credentials. The hackers downloaded about 60,000 emails from the State Department alone, department spokesman Matthew Miller has said. Microsoft has “mobilized our engineering teams to identify and mitigate legacy infrastructure, improve processes, and enforce security benchmarks,” the statement continued. Russian hackers allegedly infiltrated software made by US firm SolarWinds to steal emails from US government agencies in 2020.
Persons: , Joe Biden, , China Nicholas Burns, Antony Blinken, Matthew Miller, Gina Raimondo, Raimondo, Cory Simpson, ” Simpson Organizations: Washington CNN, Microsoft, US, Department of Homeland Security, CNN, State Department, Institute, Infrastructure Technology Locations: Washington, China, Russia
BOSTON (AP) — In a scathing indictment of Microsoft corporate security and transparency, a Biden administration-appointed review board issued a report Tuesday saying “a cascade of errors” by the tech giant let state-backed Chinese cyber operators break into email accounts of senior U.S. officials including Commerce Secretary Gina Raimondo. It concluded that “Microsoft's security culture was inadequate and requires an overhaul" given the company's ubiquity and critical role in the global technology ecosystem. Three think tanks and four foreign government entities, including Britain's National Cyber Security Center, were among those compromised, it said. Separately, the board expressed concern about a separate hack disclosed by the Redmond, Washington, company in January — this one of email accounts including those of an undisclosed number of senior Microsoft executives and an undisclosed number of Microsoft customers and attributed to state-backed Russian hackers. The board lamented “a corporate culture that deprioritized both enterprise security investments and rigorous risk management.”The Chinese hack was initially disclosed in July by Microsoft in a blog post and carried out by a group the company calls Storm-0558.
Persons: Biden, Gina Raimondo, , Nicholas Burns, Alejandro Mayorkas, Redmond, Morgan Stanley Organizations: BOSTON, Microsoft, State Department, Microsoft Exchange, U.S, Cyber Security, Homeland, Storm, Google, Yahoo, Adobe, Dow Chemical Locations: China, Washington, Russian
Nov 28 (Reuters) - CrowdStrike Holdings (CRWD.O) on Tuesday forecast fourth-quarter revenue above Wall Street estimates, driven by resilient demand for its cybersecurity offerings in the wake of rising online threats. Rising cyber threats, ransomware attacks and hacking incidents have triggered demand for cybersecurity offerings as businesses try to ensure safety against hackers who steal sensitive data. For the third quarter ended Oct. 31, the company posted revenue of $786.0 million, beating estimates of $777.1 million. Adjusted net income attributable to CrowdStrike for the third quarter rose to $199.2 million, from $96.1 million a year earlier. CrowdStrike raised its annual revenue outlook to a range of $3,046.8 million to $3,050.2 million, up from its earlier forecast of between $3,030.7 million and $3,042.9 million.
Persons: CrowdStrike, Jaspreet Singh, Shailesh Organizations: CrowdStrike Holdings, MGM Resorts International, Caesars Entertainment, Thomson Locations: Austin , Texas, Bengaluru
Bank of America reiterates Roblox as buy Bank of America said the stock is becoming "more investable." Deutsche Bank initiates Wayfair as buy Deutsche said in its initiation of the stock that it's a "pure-play e-commerce leader." Deutsche Bank initiates DoorDash as buy Deutsche said in its initiation of the company that it has "superior unit economics." Bank of America initiates Gen Digital as buy Bank of America said it likes the cyber safety vendor. Goldman Sachs reiterates Amazon as buy Goldman said it sees an "underappreciated secular growth opportunity" for Amazon shares into next year. "
Persons: it's, Goldman Sachs, Goldman, 1QFY, Roblox, Price, Stifel, Baird, Catalent, 1HCY24, Piper Sandler, Piper, Philip Morris, Guggenheim, Wells, TD Cowen downgrades Organizations: UBS, Nvidia, Qs, Networks, Palo Alto Networks, 1QFY billings, billings, Bank of America, Products, Deutsche Bank, Deutsche, HSBC downgrades Altice, HSBC, Goodyear Tire, Goodyear, " Bank of America, ITT, of America, Aerospace & Defense, Digital, JPMorgan, Entertainment, Mizuho, Intel, AMD, Amazon, Citi, EV, TD Cowen downgrades Target Locations: HSBC downgrades Altice USA, China
CNN —The Chinese hackers who breached senior US officials’ emails in May and June were able to do so by first stealing sensitive data from a Microsoft engineer, the company revealed Wednesday. Multiple mishaps, including the crash of an internal Microsoft system in April 2021 and the hack of the engineer, gave the Chinese hackers coveted access to a cryptographic key that was later used to break into the US officials’ email accounts, the tech giant said in a blog post. The hackers had breached the email accounts of US Ambassador to China Nicholas Burns and Commerce Secretary Gina Raimondo, in advance of Raimondo’s trip to China. Microsoft has been under scrutiny from US lawmakers and officials who have demanded more information on how the alleged Chinese hackers broke into the email accounts. As CNN previously reported, the Biden administration believes the Chinese hacking gave Beijing insights about US thinking ahead of Blinken’s trip.
Persons: China Nicholas Burns, Gina Raimondo, Don Bacon of Nebraska, Antony Blinken, Biden, Rob Joyce, ” Joyce, , Organizations: CNN, Microsoft, Republican, Department of Homeland Security, State Department, National Security Agency Locations: Washington, China, Beijing
A Microsoft logo is seen in Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson/File PhotoCompanies Microsoft Corp FollowAug 10 (Reuters) - A U.S. cybersecurity advisory panel will investigate risks in cloud computing that will also include Microsoft Corp's (MSFT.O) role in the recent breach of government department email systems by suspected Chinese hackers, Bloomberg News reported on Thursday. That access was used to spy on the communications of U.S. Commerce Secretary Gina Raimondo and senior State Department diplomats. The U.S. House of Representatives Oversight Committee last week said it was opening an investigation into China's suspected involvement in recent breaches of Commerce and State department email systems. Reporting by Gokul Pisharody in Bengaluru; Editing by Himani Sarkar and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.
Persons: Lucy Nicholson, Ron Wyden, Gina Raimondo, CISA, Gokul, Himani Sarkar, Jamie Freed Organizations: Microsoft, Los Angeles , California U.S, REUTERS, Bloomberg, Federal Trade Commission, Infrastructure Security Agency, Justice Department, U.S . Commerce, State Department, U.S . House, Commerce, Thomson Locations: Los Angeles , California, U.S, Oregon, Bengaluru
A man types into a keyboard during the Def Con hacker convention in Las Vegas, Nevada, U.S. on July 29, 2017. REUTERS/Steve Marcus/File PhotoWASHINGTON, Aug 11 (Reuters) - A U.S. cyber safety body will review issues relating to cloud-based identity and authentication infrastructure that will include an assessment of a recent Microsoft (MSFT.O) breach that led to the theft of emails from U.S. government agencies, the Department of Homeland Security (DHS) said on Friday. The review by the Cyber Safety Review Board will look at the malicious targeting of cloud computing environments, the DHS said in a statement. Senator Ron Wyden in July asked the Federal Trade Commission, the Cybersecurity and Infrastructure Security Agency and the Justice Department to "take action" against Microsoft following the hack. The Cyber Safety Review Board's review will provide recommendations to help organizations protect against malicious access to cloud-based accounts , DHS said.
Persons: Steve Marcus, Alejandro Mayorkas, Ron Wyden, Jasper Ward, Ismail Shakil, Jonathan Oatis Organizations: Def Con, REUTERS, Microsoft, Department of Homeland Security, DHS, Federal Trade Commission, Infrastructure Security Agency, Justice Department, Thomson Locations: Las Vegas , Nevada, U.S, Washington, Ottawa
Aug 3 (Reuters) - Cybersecurity firm Gen Digital (GEN.O) beat revenue estimates for the first quarter on Thursday, as demand for its antivirus software like Avast, Norton and Avira rose, sending shares surging 3.7% in trading after the bell. Demand for cybersecurity software has soared in the wake of continuously evolving cyber threats, privacy concerns and soaring hacking activity, as users expand their digital footprints. Revenue in the first quarter grew 34% to $946 million, slightly above analysts' average estimate of $945.4 million, according to Refinitiv data. The company earned adjusted profit per share of 47 cents, above analysts' average estimate of 46 cents. Gen Digital expects fiscal year 2024 revenue to be in the range $3.8 billion to $3.85 billion, the midpoint of which is slightly below analysts' average estimate of $3.85 billion, according to Refinitiv data.
Persons: Vincent Pilette, Jaspreet Singh, Pooja Desai Organizations: Digital, Norton, Gen Digital, Thomson Locations: Bengaluru
All over the world, organizations of all sizes, including small businesses, scrambled to upload patches and to figure out if they'd been infiltrated. Each time big software companies have changed default settings or made blanket changes with cybersecurity in mind, he points out, cybercrime fell measurably. Some of its donors are big technology companies. "Microsoft takes email security very seriously," said Girish Chander, head of Microsoft Defender for Office, in a statement to CNBC. Updating email software default settings.
New York CNN —A network of three hospitals in Brooklyn, New York, has had to work off paper charts for weeks following a cyberattack on its computer systems in late November, the hospital group’s chief executive told CNN Monday. The hack affected “clinical applications,” including “those used for imaging and other critical services,” but many of those applications have been restored, One Brooklyn Health CEO LaRay Brown said in an email. One Brooklyn Health operates Brookdale University Hospital Medical Center, Interfaith Medical Center and Kingsbrook Jewish Medical Center. “No patients were adversely effected,” Brown told CNN in an email Monday, adding that the hospitals remain open to patients. Brookdale Hospital is located in the Brownsville neighborhood of Brooklyn, one of the poorest areas in New York City.
U.S. to Probe Cyberattacks Linked to Lapsus$
  + stars: | 2022-12-02 | by ( Dustin Volz | ) www.wsj.com   time to read: 1 min
WASHINGTON—The Biden administration on Friday said it would investigate recent hacks linked to an extortion-focused hacking collective known as Lapsus$ that over the past year has victimized some of the world’s biggest technology companies and broken into critical infrastructure systems. The U.S. Cyber Safety Review Board, a panel of experts from various government agencies and the private sector, will examine the group’s recent high-profile hacks, which researchers say have sometimes included extortion demands but at other times seem motivated by a desire for notoriety.
Dec 2 (Reuters) - The U.S. Department of Homeland Security (DHS) said on Friday the Cyber Safety Review Board will investigate recent cyber-attacks linked to Lapsus$. "Lapsus$ has reportedly employed techniques to bypass a range of commonly-used security controls and has successfully infiltrated a number of companies across industries and geographic areas," the DHS said. It is also known to have infiltrated systems at Nvidia Corp (NVDA.O), Microsoft Corp (MSFT.O) and Okta Inc (OKTA.O), an authentication service. The Cyber Safety Review Board is a public-private body that takes up fact-finding initiatives. It serves to review major cyber events and make concrete recommendations.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur marketing budget goes to making sure consumers understand benefits of full cyber safety plan, says Gen Digital CEOVincent Pilette, Gen Digital CEO, joins 'TechCheck' to discuss the company's acquisition of NortonLifeLock and how the company plans to cross-sell in today's environment, his focus on profitability and whether there's any demand changes for cybersecurity.
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