Standout Stories
When President Obama signed the Cybersecurity Information Sharing Act of 2015 late last year, the outlines of a new, highly complex relationship among corporations and federal and state governments began to emerge around the issue of how the public and private sectors would interact to manage cyber risk.
As “Share and Share Alike,” the lead article in CFO’s special report on managing cyber risk notes, the notion that corporations should band together and share information about threats to their networks is nothing new. The advantage in terms of speed in catching black hats if companies tip each other off is obvious. In fact, companies have been alerting each other within industry groups since 1998, operating under the wing of the federal government as Information Sharing and Analysis Centers (ISACs).
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Powa Technologies goes bankrupt…
Powa Technologies, an e-commerce startup that was once valued at $2.7 billion, has entered bankruptcy after failing to win customers for its mobile payments products and never achieving profitability.
Most of Powa’s U.K. staff of 90 was laid off on Monday by Deloitte, which was appointed bankruptcy administrator last week. The company went into bankruptcy after Wellington Management, its lead investor, called in its loans.
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Headlines
U.S. Bank Profits Climb 11.9% to $40.8B
“There are signs of growing credit risk, particularly among loans related to energy and agriculture,” said the FDIC’s chairman.
Special Report: Managing Cyber Risk
Although a brave new world of corporate sharing of cyber threat information is arising, there are still concerns about government involvement.
A Tool to Build a Cyber Defense
Finance chiefs need to understand the relationship between cyber threats and the investments needed to mitigate them.
Financial Regulators Have Cyber on Their Minds
This year, expect regulators to hold financial-services companies accountable for their cybersecurity failings.
Share and Share Alike
A new law could enable companies and the government to share data about cyber threats without compromising privacy.
Online Sales Fuel 1.9% Growth at Target
The retailer posted a 34% increase in digital sales but holiday-season promotions aimed at driving that growth cut into profits.
Moody’s Downgrades Brazil’s Debt to Junk
The downgrade brings Moody’s in line with other rating agencies concerned about Brazil’s creditworthiness amid its worst recession in decades.
BlackBerry Makes Another Bet on Services
The acquisition of U.K. consultancy Encription will add to BlackBerry’s cybersecurity business as it continues to pivot away from smartphones.
Etsy Stock Climbs 7% as Q4 Sales Hit $88M
The better-than-expected revenue cheered some investors but Wall Street is skeptical that the company can sustain growth in 2016.
Former U.K. Tech Darling Powa Goes Bankrupt
The e-commerce startup was once valued at $2.7 billion but couldn’t find customers for its mobile payments products.
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