THE DATA BREACHES REPORT: The strategies companies are using to protect their customers, and themselves, in the age of massive breaches
- Over the past five years, the world has seen a seemingly unending series of high-profile data breaches, defined as incidents in which unauthorized parties access and retrieve sensitive, secure, or private data.
- Major incidents, like the 2013 Yahoo breach, which impacted all 3 million of the tech giant's customers, and the more recent Equifax breach, which exposed the information of at least 143 million US adults, has kept this risk, and these threats, at the forefront for both businesses and consumers.
- Business Insider Intelligence, Business Insider's premium research service, has put together a detailed report on the data breach threat, who and what companies need to protect themselves from, and how they can most effectively do so from a technological and organizational perspective.
Five things you should know before you start your work day on Jan. 24
- To go with your morning Tim’s, we’ve got a story today on its new top management team and solid results; we’ve got stock picks for your RRSP; and three government-related pieces: Morneau’s ‘hear-no-evil, see-no-evil’ stance on recession forecasts; Trudeau’s pitch on (unnecessary) Pharmacare; and a look at how the New Brunswick island of Campobello has essentially been left abandoned, with no transportation to mainland Canada that doesn’t go through U.S. security posts.
- With no ferry service, the only access to mainland Canada is through the U.S. This means the 800 residents have to cross both Canadian and American border security if they want to go to a decent grocery store (but they can’t bring home everything they want; the U.S. bars some products from crossing over).
- “In theory and in practice, the people of the island have been stranded by a good degree of thoughtlessness,” says a New Brunswick senator.
General Motors gears up to 'electrify' GMC pickup trucks
- With its CEO setting a goal of going 100 percent electric, General Motors is taking a close look at how, if not when, to offer an all-electric SUV, according to the head of the automaker's GMC truck brand.
- An all-electric version of the GMC Sierra would all but certainly be accompanied by a battery-electric version of the more mainstream, albeit higher-volume Chevrolet Silverado, said David Cole, director-emeritus of the Center for Automotive Research in Ann Arbor, Michigan.
- For his part, GMC chief Aldred told CNBC that battery technology still carries a fairly hefty premium that makes it difficult to target mainstream segments, unless a carmaker like GM is willing to accept lower margins.
- Tesla CEO Elon Musk previewed a prototype all-electric truck in 2017 and the company could have it ready to join current offerings like the Models S, X and 3 by sometime in 2020, he has indicated.
Why U.S. Copper Is about to Make a Big Comeback
- So investors have sunk $1.1 billion into U.S. copper mines, Reuters reports, and the first new projects in more than a decade are slated to begin operations in 2020.
- That investment may help turn around a longer-term decline in U.S. copper mining production.
- Last year U.S. and Canadian production were both down (around 3.5% and 11%, respectively) relative to 2017, according to the latest International Copper Study Group (ICSG) data.
- American mining company Freeport-McMoran sold its majority stake in an Indonesian mine under pressure from the government and instead plans to invest $850 million in an Arizona copper mine.
- Nevada Copper is also planning a pair of projects near Reno slated to begin late this year.
- All told, the ICSG estimates 8% production growth in the U.S. in the next four years.
Ghosn Gone, Ford Slump, Brexiteer 'Madness': CEO Daily for January 24, 2019
- Good morning.
- Powering this trend is an explosion in data — which is to this new industrial revolution what steam, electricity, and computers were to previous ones.
- But many companies haven’t yet gotten their data into a shape that can be fed into machine learning algorithms.
- Another problem they face is finding enough data scientists to do the job.
- Bottom line, the gap between possibility and current reality remains huge.
- Stefan Oschmann, the CEO of Merck, Germany, said that on a scale of one to ten, his company was still at a one in making full use of currently available technology.
- The promise of AI is immense, but there’s a long way to go before that promise is realized.
- More news below.
- This edition of CEO Daily was edited by David Meyer.
- Find previous editions here, and sign up for other Fortune newsletters here.
Cost of California Wildfire Proposals? $150 Billion in Year One, Says PG&E
- California’s largest investor-owned utility said U.S. District Judge William Alsup’s plan for it to trim branches and inspect and repair thousands of miles of power lines would cost about five times as much as PG&E’s forecast liabilities for wildfires that scorched the state in 2017 and 2018 and would have to be funded by ratepayers.
- Alsup is overseeing PG&E’s probation for safety violations that led to felony convictions for a previous incident — the 2010 explosion of one of its gas pipelines, which killed eight people.
- PG&E would be subject to criminal sanctions if it fails to meet the new probationary conditions that the judge wants to impose — including trimming tree branches close to power lines and cutting local electricity supply in high-risk weather conditions.
‘It’s going to be a mess’: Muddy path to a vote for revised NAFTA, experts say
- A record-breaking government shutdown, an unpredictable batch of first-time congressional Democrats and an intensifying U.S. presidential campaign cycle are muddying the path to ratification for the new NAFTA — with some observers questioning whether the deal will even make it to a vote this year.
- Though Canada’s ambassador to Washington, David McNaughton, expressed confidence about the deal’s passage as recently as last week, a confluence of challenges — including calls from some Democrats for a return to the bargaining table — are clouding the chances of a swift ratification, said Dan Uzcjo, an Ohio-based trade lawyer with Dickinson Wright.
- With the new Democrat-controlled congress just a few weeks old, Pelosi — currently locked in a bitter impasse with Trump over the shutdown — will be the “main interlocutor” with the White House on the politics of the new NAFTA and whether the party will support its passage or hold it up, said Todd Tucker, a fellow at the Washington-based Roosevelt Institute.
The Spy Inside Your Car
- Once clunky and buggy, voice-recognition technology is improving and quickly spreading to the dashboard, allowing drivers to issue a wider range of commands using natural speech.
- But if the benefits of bringing Amazon Alexa, Apple’s Siri, or Google Assistant into the car seem endless, so do concerns about privacy and how the information collected will be used.
- Once artificial intelligence becomes better at understanding and interpreting speech across a range of dialects, accents, and colloquialisms, cars will be able to glean even deeper insight into drivers’ behavior and share that information with other companies.
- The more data that Amazon, Google, and Apple collect by placing their devices inside cars, the more opportunities they have to serve—or sell to—customers.
- An Amazon spokesman says that the company merely shares “anonymized, aggregated performance data to help automakers improve the customer experience” and that it doesn’t provide personally identifiable information to car companies or developers.
Juan Guaidó wins diplomatic recognition as Venezuela’s president
- Juan Guaidó, the gangly 35-year-old politician—unknown to most Venezuelans a month ago—raised his right hand and declared himself acting president of the republic.
- Tens of thousands of people, gathered in Caracas on January 23rd as part of a national demonstration against the disastrous regime of Nicolás Maduro, now deemed a usurper, let out a raucous cheer.
- On January 5th he was chosen as head of Venezuela’s national assembly as part of a power-sharing agreement between the main opposition parties.
- The Venezuelan constitution says that, if the president’s job is vacant, as the opposition claims, then the national assembly’s head should take over.
- From a middle-class family in the coastal state of Vargas, Mr Guaidó, a former engineering student, has none of the elitist airs of the elder generation of opposition leaders.
- Mr Guaidó repeatedly demurred from declaring himself president, saying he needed the support of both the people and the armed forces.
Yang Hengjun, Stern Hu, Charlotte Chou: Detentions shade Australia-China ties
- Over the past 10 years, there have been some very high-profile cases including Rio Tinto executive Stern Hu, whose arrest came at the height of the "iron ore wars"; education entrepreneur Charlotte Chou, who faced questionable charges after falling out with her business partner; and Crown Resorts executive Jason O'Connor, who was on a business trip to Shanghai when he was detained along with 18 other employees in a series of overnight raids.
- Charlotte Chou's case attracted attention after it was revealed she had been taken away from her one-year old son late at night and questioned for three days without sleep before signing a confession on the promise she would be released.
- In all these cases and those of others detained in China, DFAT's preference has been to make any strong representations to Chinese authorities behind closed doors and avoid so-called "megaphone diplomacy".