Tag Archives: technology news

Yahoo Breaks Record – For The Biggest Hack in History

The biggest hack in history – it’s certainly not an award to be envious about. But Yahoo broke the record after announcing a major breach from 2013.

hack record

It’s been a bad week for embattled internet giant, Yahoo, as the company announced details of a huge cyber security breach from 2013. The hack impacted over one billion accounts, twice as big as the previous largest breach.

Yahoo was also the victim of the previous hack ‘record’, which it announced in September. It means that user data from over 1.5 billion accounts has been stolen from the company between 2013 and 2014.

Both the FBI and the New York Attorney General are investigating the hack. However, the company is likely to suffer as trust in its security and systems falls.

Hack Included US Officials

The first, and largest, of the hacks occurred in August 2013. Yahoo have said that data such as usernames, passwords, phone numbers and security questions were all stolen. The company is taking steps to contact users affected by the hack, asking them to change passwords and security questions.

It’s an embarrassing turns of events for Yahoo, who are already struggling to keep pace in the tech industry. It’s the second hack the company have announced this year. To further their embarrassment, it has come to light that 150,000 of the affected accounts belonged to US Government Officials.

According to a Bloomberg report, the data stolen from the officials in the hack could be a threat to national security. Data could allow cyber criminals to identify officials, target them, and further hack personal and professional accounts.

Organisations affected included:

  • Current and former White House staff;
  • FBI agents;
  • US Congressmen and their aides;
  • Officials at the NSA and CIA;
  • Current and former US diplomats; and
  • Every branch of the US Armed Forces.

Trouble on the Verizon?

The two breaches, and the high-profile nature of the accounts included, come at a bad time for Yahoo. In recent months CEO Marissa Meyer has come under increasing criticism for how the company is performing.

The hacks may also have a major impact on the deal Yahoo currently has to sell its core internet assets to Verizon. The deal, currently estimated to be worth $4.8 billion, has still to be finalised. And while it’s likely to still go ahead, Verizon have already said it will be looking for a lower price.

In October, when the first hack was announced, Verizon stated that it was “reviewing the deal“. It’s unlikely that a second breach will assist Yahoo’s negotiation position much either. With shares prices falling 6.5 per cent in Thursday trading last week, the deal valuation is likely to be put back on the table.

However, some experts believe that the deal will still be closed at its original price. The impact of the breaches will not be seen for some time, and certainly not in a way that would show any monetary damage. But at a time when a smooth deal was top of the priority list, Yahoo will need to work very hard to recover consumer confidence.

What Should I Do?

While you will be contacted by Yahoo if you are impacted by the hack, we’ve pulled together some things you can do in the mean time.

  • Log into your e-mail account and change your password

Make it a brand new password, with upper and lower cases, special characters and numbers. No dates of birth!

  • Check accounts the e-mail is linked to

Like most people, you’ll use your e-mail to log into other online accounts. Check all these accounts to make sure there’s no unusual activity. Change your passwords.

Once you’ve done this, check for any password reset requests that you haven’t asked for in your e-mail. Report anything suspicious to the site in question.

  • Check Sent Mail for Spam

Your account might have been used for sending spam mails to your contact list. Do a quick check of your sent mail for this.

  • Two Factor Identification

In light of the increasing number of hacks, sites have begun to introduce two factor identification. This works alongside your password as part of the logging in process. Register for it where you can.

You’re never going to be 100 per cent safe from a hack. But by using strong passwords (different ones for different sites), you can help to minimise the impact and possibility.

While we frantically try to remember all our passwords, we’ve looked out some of the top headlines for this week…

Trump Holds Silicon Valley Tech Summit

  • Silicon Valley tech heavyweights sat down with President-elect Donald Trump for two hours last week.
  • The leaders including Apple’s Tim Cook, Facebook’s Sheryl Sandberg and Amazon’s Jeff Bezos.
  • Topics discussed included vocational education, trade with China, and the need for data analysis technology to detect and reduce government waste.
  • The tech industry and Trump were frequently at loggerheads during the election. Trump also singled out a number of them for criticism on non-US supply chains.

Read more at the New York Times

Amazon in Drone Delivery First

  • Amazon made history last week with its first delivery by a fully-autonomous flying drone.
  • The delivery, containing a TV remote control and a bag of popcorn, was made to a customer in Cambridge, U.K.
  • The delivery took 13 minutes from Amazon’s local warehouse to the customer’s home. Amazon intends to extend the trial to hundreds of users.
  • Packages must weigh five pounds or less and can only be delivered during the day and in clear weather.

Read more at the Wall Street Journal and watch the video here 

Mexican Government Deploys Troops for Shipment Protection

  • As many as 1000 troops have been deployed along rail lines in Mexico to protect automotive cargo from thieves.
  • Thieves have been boarding trains to steal tyres, batteries and other automotive parts.
  • Mazda and General Motors are among the companies that have been impacted by the thefts.
  • American Honda has also been affected, and takes the damage into account when deciding between rail and sea-borne deliveries.

Read more at Automotive Logistics

UK Falling Behind on Timber Requirements

  • The UK faces a future timber shortage thanks to delays in planting of forests.
  • In order to meet Government requirements of 10-12 per cent increase in woodland areas in England, 11 million tree need to be planted between now and 2020.
  • However, the Chief Executive of Confor has highlighted serious delays due to inefficiencies in the grant system for planting.
  • The highly bureaucratic process means it can take up to three years before permission is granted to plant trees on a large scale.

Read more at Supply Management

Is the Age of the Tech Unicorn at an End?

Once, every tech start-up wanted to be a unicorn? But could the age of the unicorn be at an end? And what will replace them?

unicorn

For the past few years, much of the talk for new technology start-ups has been about achieving the moniker of a ‘unicorn’. Many have tried, plenty have failed, but there are as many that have succeeded.

However, as many people warned, the constant rise of the ‘unicorn’ was always going to come to an end. And even some of the big name unicorns from the past few years have lost this particular title.

So, is the age of the unicorn at an end? And what is coming next to take their place?

Rise of the Unicorn

For those of you still unfamiliar with the term, a unicorn is a technology start-up company, which reaches a valuation of over $1 billion. The companies are characterised by rapid growth, and are generally privately funded, either through VC, or other routes.

The issue with unicorns, one that investors were aware of from the start, is that they are not profitable. Well, at least to begin with. Most unicorns aim to prove concept, and grow market share, before making any money.

Valuations tend to be based on future projections of worth, which is why truly defining a unicorn is tricky. Currently, the Wall Street Journal lists 155 unicorn firms, Fortune 174, and VentureBeat 229.

There are plenty of recognisable names on these lists. Uber, Airbnb, SpaceX and Dropbox, to name but a few. Many of these companies also appear on lists of organisations still considered to be disrupting their respective industries.

It’s probably easier to argue that companies like Facebook and SpaceX, unicorns of the past, have surpassed that title by being profitable in their own right. And profitability, after all, is surely the key.

Pop! Is that a Bubble Bursting?

When we first visited the topic of unicorn organisations a little under a year ago, we did highlight vulnerabilities in this set up. Venture capitalists and their investments are as much susceptible to market changes as any other business.

And given the global uncertainty that has been prevalent in 2016, many investors are looking for safer options. And this decrease in available funding has already seen a major impact amongst unicorns.

The pre-IPO investment firm Sharespost published an analysis in August that concluded that 30 per cent of all unicorns would lose their billion-dollar net worth. Some already have, and some have been pushed down that road in the past 9 months.

Big name companies like Theranos (once a unicorn, now subject of media interest for all the wrong reasons) and Evernote have already had valuations written down. Even Twitter and Uber have lost some of their valuation (though not enough to take them under the magic $1 billion mark).

Rise of the…Cockroach? Really?

Yes, really. Well, if you’re looking for a survivor, it’s well known that cockroaches could probably survive the apocalypse!

It might not be as glamorous a title, or an image, but the cockroaches are here to stay. Cockroach organisations differ from unicorns by having slow and steady growth, a closer eye on spending, and steady profits.

Cockroaches exist where funding doesn’t come as easily, but they can be smaller, more agile, and better prepared for uncertainty. And with smaller budgets, they are regarded as being more creative than their unicorn counterparts.

For investors, this represents a safer option, and a potentially better return in the long-run for them and their clients. While some unicorns will make it, and make it big for their investors, cockroaches are seen as a safer investment, something that is welcome in volatile markets.

Where will we be in another year? Who knows. We can’t predict which companies will still have their unicorn title, and which will be falling back. However, the chances are that the cockroaches are here to stay.

Cockroach or unicorn – which would you rather be involved with? Is the age of the unicorn really at an end? Let us know your thoughts below.

While you ponder that, here are this week’s procurement and supply chain headlines to keep you going.

Bangkok Fire Trucks Belatedly Enter Service

  • A fleet of 176 fire trucks are to finally enter service in Bangkok, a full 10 years after they were purchased.
  • The trucks have locked up in a warehouse for over a decade due to a prolonged legal dispute.
  • The Austrian-made trucks were locked up soon after delivery as part of a wider corruption scandal involving senior government ministers.
  • Due to their age, the trucks require extensive maintenance before they can be put to use.

Read more at The Nation

Self-Driving Delivery Boats to Ply Amsterdam’s Canals

  • The Amsterdam Institute for Metropolitan Solutions plans to use the city’s extensive  canal network to trial a fleet of autonomous boats.
  • The floating robot vehicles will deliver goods and provide driverless transportation for people along the canal network.
  • The boats can also be linked together to provide on-demand bridges and stages.
  • Amsterdam’s research into robot canal boats parallels the proliferation of self-driving cars in the US and elsewhere.  

Read more at The Verge

Amazon Business Hires White House Procurement Head

  • Amazon has hired the former head of the Office of Federal Procurement Policy, Anne Rung, in a bid to increase its sales to government agencies.
  • The role, titled Global Leader of Public Sector Sales, will focus on helping Amazon win government purchasing contracts.
  • Rung will work closely with government buyers to purchase goods and services more efficiently.
  • In her Federal role, Rung reportedly saved taxpayers more than $2.1 billion in procurement spending by reducing duplication.

Read more at B2B eCommerce World 

30 Under 30 Programme Goes Global

  • ISM and THOMASNET.com’s 30 Under 30 Supply Stars programme has returned for its third year.
  • The programme celebrates the achievements of young professionals in Procurement and Supply chain, with the goal of attracting more Millennials into the profession.
  • This year, for the first time, the competition has expanded beyond the US to include nominations from around the world.
  • Judges are looking for multitalented professionals who are influencers and trailblazers in their organisations.

Read more and Nominate at THOMASNET.com