Talk Talk hack and youpublished at 10:58 British Summer Time 23 October 2015
The BBC's Joe Lynam on the implications
Summary
Facebook over $100 per share for first time
Microsoft and Amazon shares surge on strong profits
TalkTalk executive: all 4 million customers could be affected after cyberattack
China cuts interest rates by 0.25%
Maersk profit warning over shipping market slowdown
Talk Talk hack and youpublished at 10:58 British Summer Time 23 October 2015
Talk Talk: the cruel ironypublished at 10:44 British Summer Time 23 October 2015
Steel crisis: the government will not 'stand aside'published at 10:37 British Summer Time 23 October 2015
Commenting on the £9m package for Scunthorpe Business Secretary Sajid Javid says:
Quote MessageThe Government has no intention of simply standing aside whilst the steel industry faces global challenges on a scale unprecedented in recent years. We will do everything we can to help workers and to ensure a level playing field for the industry. Tata Steel has a strong track record of creating jobs and supporting local communities right across the country, and its commitment to this package today is to be commended."
Talk Talk hack: Information Office statementpublished at 10:28
Quote MessageThe ICO is aware of this incident, which was reported to us on Thursday afternoon. We will be making enquiries and liaising with the police. Any time personal data is lost there can be a risk of identity theft. There are measures you can take to guard against identity theft, for instance being vigilant around items on your credit card statements or checking your credit ratings. There are tips and information about identity theft available on our website."
Information Commissioners Office
Eurozone growth fuelled by service sectorpublished at 10:19
Quote MessageThis indicates one of the strongest months in the past four years. Most strength came from the service sector, its PMI increased from 53.7 to 54.2. This shows that domestic demand is continuing to lead the European recovery."
Bert Colijn, Analyst, ING Bank
UK government and Tata announce £9m help packagepublished at 10:05
A package of up to £9m to support workers and the local economy hit by job losses in Scunthorpe has been announced by the government and Tata following the steel factory closure crisis. Tata is providing £3m, and the government £6m for start-ups and training.
Hackers helped by firms rushing out new featurespublished at 09:56
"Organisations don't get security foundation right because their customers are demanding change, demanding new features so they rush solutions out there and as a result don't get security right," said Andrew Avanessian, from software company Avector on the Victoria Derbyshire show.
Talk Talk hack: not alone in hack attackspublished at 09:43
Kamal Ahmed
Business editorFollowing my earlier blog, I have been contacted by a number of companies which say there was a significant upsurge in Denial of Service attacks on Wednesday, the day TalkTalk was infiltrated.
Some appear to be connected with extortion, with ransoms demanded in Bitcoins.
FTSE 100 pushes higherpublished at 09:33
The FTSE 100 is trading 0.75% higher, led by Glencore this morning which is almost 3% higher.
It's been helped by a rise the prices of industrial metals.
Computer chip designer Arm Holdings is up 2.5%.
Technology shares have been helped by decent results released on Thursday night from Microsoft, Amazon and Google's Alphabet.
Arm Holdings also posted strong quarterly results on Wednesday.
Eurozone business growth picks up, PMI data showspublished at 09:21
Image source, Getty ImagesEurozone business activity is picking up more than expected this month as new work for services companies came in at the fastest rate since April.
Markit's 'flash' Purchasing Managers' Index for October was 54, up from 53.6 in September. The index has been above the 50 mark that separates growth from contraction since July 2013.
"It's a sign the economy is performing reasonably well. However, it suggests that while quantitative easing appears to be having some benefit, it's not having a big enough benefit," said Chris Williamson, Markit's chief economist.
Yesterday, European Central Bank chief Mario Draghi hinted that more QE was on its way.
TalkTalk shares tumblepublished at 09:15
TalkTalk shares are down almost 11%. That's the lowest level since August 2013.
TalkTalk customer: 'I shall be moving'published at 09:00 British Summer Time 23 October 2015
Business Live page reader Malcolm Hepple emails:
Quote MessageWhat is the point of TalkTalk asking customers to change their passwords if they are so inept as to allow three breaches of security within the last year, and two within the last two months. I shall moving to another subscriber as soon as possible.
TalkTalk hack: Questions over customer trustpublished at 08:54
BBC business editor Kamal Ahmed has a few points to make about the TalkTalk hack on Business Live.
He points out that TalkTalk is one of the smaller players among the telecom providers and "lots of customers will be wondering if they can trust TalkTalk with their data".
It will also need to be established whether TalkTalk encrypted customers' data to make it more difficult to steel, Kamal says.
While it is the third data breach in a year for TalkTalk, this latest one is of a different magnitude he reports.
TalkTalk hack: Always look on the bright side...published at 08:41 British Summer Time 23 October 2015
One TalkTalk customer can see the funny side of the hack:
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End of X postTalk Talk hack: when to make investment in new kitpublished at 08:29 British Summer Time 23 October 2015
Today Programme
BBC Radio 4Companies face a constant concern over when to upgrade their systems to prevent hacking, says cyber-security expert Professor Peter Sommer. "They may decide to delay for perfectly straight forward commercial reasons. The difficulty is how and when to make the investment in new kit," he tells Today.
He adds, reports that terrorist groups are behind the hack are par for the course at these times. He thinks more likely reasons for the Talk Talk hack are to extort money from the company or criminal gangs seeking customers' bank account details.
TalkTalk hack: Possibility of ransom demandpublished at 08:18 British Summer Time 23 October 2015
Kamal Ahmed
Business editorQuote MessageOne thing it is worth noting at this early stage is that there have been a number of recent reports about groups attacking companies and subsequently demanded ransoms in Bitcoins. One group is named DD4BC, which has been accused of emailing companies with demands to be paid. It is as yet unclear whether TalkTalk has been the target of a similar attack, but I am told it is already a strong line of inquiry.
TalkTalk hack: Company's 'exemplary' responsepublished at 08:17
BBC Radio 5 LiveAdrian Culley is on Radio 5 live. He is a former detective at Scotland Yard's cyber crime unit and is now a computer security consultant
He says TalkTalk's response has been "exemplary so far".
He says it takes time to investigate such breaches because of the "sheer volume of information involved".
A hacking group called 'TalkTalk hackers' has released what appears to be customer information he says.
They appear to be cyber-jihadist group based in Russia, he says.
But just because a group claims they are behind the attack - it does not mean it is true.
Generally, Mr Culley says we all need to check statement and bills regularly and if there's anything suspicious you should instantly contact your bank or card provider.
FTSE higher in early tradingpublished at 08:08
The FTSE 100 is 0.5% higher in early trading. It follows gains for Asian shares. In Japan the Nikkei 225 notched up a 2.1% gain.
TalkTalk shares tumblepublished at 08:02
TalkTalk shares have fallen almost 4% in early trading.
TalkTalk hack: Hacked details could be on internetpublished at 07:53
BBC Business reporter Joe Lynam tweets:
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