A 2016 report in the US stated that 6% of their companies make 50% of their profits.<br />
<br /> Clearly, theres something this minority is doing right; and which the remaining 94% need to learn. From <keyword id="25456" type="ORGANIZATION" weightage="20" keywordseo="financial-planning">financial planning</keyword> to guarding against risks, profitability involves a whole slew of variables.<br />
<br />
In other words, organisations have to avoid uncertainties as much as possible, especially when costs are concerned. Yes, there are ones you cannot avoid, force majeure such as earthquake, flood, etc., besides incidents like wars, terrorist attacks etc;<br />
<br /> <keyword id="6361948" type="COMPANY" weightage="20" keywordseo="Cybersecurity">Cybersecurity</keyword> has emerged as one such business risk or unforeseen calamity. To the uninitiated, cybersecurity is the protection of valuable intellectual property and business information in digital form against theft and misuse.<br />
<br /> There have been several cases where frauds, <keyword id="116273" type="UNKNOWN" weightage="20" keywordseo="cyberattacks">cyberattacks</keyword>, system failure, etc. have wiped out several organisations.<br />
<br />
Since we cannot anticipate such incidents, it is necessary to have firewalls in place to either avoid them or counter them to a manageable extent. When the cybersecurity of an organisation is compromised, it has a direct bearing on the organisations internal functioning.<br />
<br />
The threat of cybercriminals or even disgruntled employees releasing sensitive information, taking intellectual property to competitors, or engaging in online fraud is very real.It may begin as a trickle, but the floodgates open soon enough.<br />
<br />
Especially since today’s e-commerce economy and online payment systems, have amplified the volume of  online transactions and  created bigger incentives for cybercriminals. Moreover, corporations looking to mine data—for instance, transaction and customer information, results of product launches, and market information—create valuable intellectual property, and that is in itself an attractive target.<br />
<br />
In the case of a cyberattack, it leads to severe downtime and loss of reputation that also has a huge financial impact. Indeed, businesses are not eager to advertise that they have had to “pay ransom” to cybercriminals or to describe the vulnerabilities that the attack exposed. To address this risk, organisations can, to a great extent, initiate suitable security controls to dispel them.<br />
<br />
A specialised cybersecurity professional therefore, will going forward be an integral part of every organisation’s architecture. While there are no security systems that can guarantee total security, the idea should be to make the job of a hacker / fraudster difficult enough and force him / her to knock elsewhere.<br />
<br />
This can happen only if the company takes a serious note of the emerging threats in the cyber-world and implements appropriate security measures. The very unpredictable nature and extent of losses that can occur due to security breaches makes it extremely important for every CIO to include cybersecurity in his / her toolkit.<br />
<br />
For those developing cybersecurity technologies, the challenge is that technology has to actually address the challenges security professionals are currently facing, or it remains on the fringes as a cool but not practical option.<br />
<br />
The good news is that a handful of companies have been able to anticipated such threats and take precautionary measures. Yet, many incidents continue to go unreported.<br />
<br />
(This article is authored by  Satish Warrier, Program Director- Cybersecurity Program, SP Jain School of High Technology)<br />
(image: Thinkstock)<br />

The cost of trickling losses you don’t know of, can cripple your organisation

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span>Thomson Reuters</span></p><p class="caption">Delta Air Lines name tags seen at Delta's terminal at JFK International Airport in New York.</p></div><p></p></div></div></p><p>Delta Air Lines has resumed flight operations following a massive computer outage that crippled the airline for more than six hours on Monday.</p><p>According to Delta, a "major system-wide network outage" on Monday had delayed flights worldwide.</p><p>The widespread computer problem was caused by a power outage at its headquarters in Atlanta, the airline said in a statement.</p><p>The outage meant flights worldwide were being delayed and airport screens and Delta's website were not showing updated flight status information.</p><p>"A power outage in Atlanta, which began at 2:38 a.m. ET (6:38 a.m. GMT), has impacted Delta computer systems and operations worldwide, resulting in flight delays and cancellations today," Delta said.</p><p>Flights scheduled for departure were not taking off, but those already in the air were operating normally, Delta said in a statement.</p><p>Delta operates 5,000 departures a day and is a member of the SkyTeam alliance alongside airlines including Air France-KLM.</p><p>It also partners for transatlantic flights with Virgin Atlantic, which said its flights were operating normally but cautioned that passengers should check tickets in case their flight was due to be operated by Delta as part of a code-share agreement.</p><p>"Delta experienced a computer outage that has impacted flights scheduled for this morning," said Delta, the world's second-largest airline measured by revenue passenger kilometers flown.</p><p>The outage was affecting flights globally, a London-based spokeswoman for the airline said.</p><p>Passengers stuck in check-in lines in airports across the world, or aboard planes waiting to depart, shared photos and frustration at the delays on Twitter.</p><p>"1 hr.+ lines @HeathrowAirport for @Delta due to system outage," user @MITJAKE tweeted with a picture of passengers waiting to check in.</p><p>The glitch follows several high-profile computer problems faced by US airlines in recent months.</p><p>The budget carrier Southwest Airlines Co. last month had to halt departures after a technical outage, while American Airlines had to suspend flights from three of its hubs in September after technical problems.</p><p>Industry consultants say airlines face an increasing risk from computer disruptions as they automate more of their operations, distribute boarding passes on smartphones, and outfit their planes with Wi-Fi.</p><p>(Reporting by Abinaya Vijayaraghavan in Bengaluru and Victoria Bryan in Berlin; additional reporting by Sarah Young in London; editing by Gopakumar Warrier and Jason Neely)</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/look-into-deltas-operations-control-center-mission-control-atlanta-headquarters-2016-6">This one room in Atlanta acts as a mission control for all of Delta's planes </a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="EzbWoyNDE6KAG7Nn0kkC7FuH-4ELdvnV" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Delta is flying again after a massive computer outage shut down the airline

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span>Thomson Reuters</span></p><p class="caption">Golf: U.S Open-Practice Round</p></div><p></p></div></div>Golf star Phil Mickelson was not involved in insider trading in the shares of Clorox Co when billionaire investor Carl Icahn was attempting an unsolicited takeover of the consumer products company in 2011, <a href="http://dealbook.nytimes.com/2014/06/11/mickelson-said-not-to-have-traded-clorox-stock/?_php=true&amp;_type=blogs&amp;_php=true&amp;_type=blogs&amp;ref=business&amp;_r=1&amp;">the New York Times reported</a>, citing people briefed on the probe.</p>
<p>Clorox was among the stocks that U.S. authorities were examining as part of a three-year investigation into well-timed trades by Mickelson and Las Vegas gambler William Walters.</p>
<p>The FBI and the Securities and Exchange Commission did not find evidence that Mickelson traded Clorox shares, but Icahn and Walters remain under investigation over Clorox, the report said citing the people. </p>
<p>Mickelson's agent and representatives for Carl Icahn could not be reached for comment outside regular U.S. business hours.</p>
<p>The federal authorities believed that Icahn may have shared details about his stock bid with Walters, who later passed on the information to Mickelson.</p>
<p>The FBI is pursuing a criminal investigation in the case, while the SEC is running a parallel civil inquiry.</p>
<p>Mickelson, 43, a three-time Masters champion and one of the world's highest-paid athletes, earlier said he had done nothing wrong and was cooperating with the investigation. </p>
<p>Although, Mickelson is not connected to the Clorox trades, he is not in the clear on Dean Foods Co <DF.N>. The FBI, federal prosecutors in Manhattan and the SEC continue to investigate well-timed trades made by Mickelson and Walters in shares of Dean Foods in the summer of 2012, the newspaper said, citing people briefed on the matter.</DF.N></p>
<p> </p>
<p>(Reporting by Ankit Ajmera, Narottam Medhora and Ankush Sharma in Bangalore; Editing by Gopakumar Warrier)</p>

Phil Mickelson Did Not Trade Shares In Clorox

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span>LaurPhil via <a href="http://www.flickr.com/photos/51417107@N03/4727103775/in/photostream/">www.flickr.com</a> creative commons</span></p></div><p></p></div></div>(Reuters) - The U.S. justice department is exploring civil and criminal actions against more than 50 big and small banks that conduct business with payday lenders, who are being increasingly scrutinized by regulators, the New York Times reported, citing government officials.</p>
<p>Under a new program, "Operation Choke Point," the department is checking banks over whether they enabled payday lenders to illegally siphon billions of dollars from U.S. consumers' checking accounts, the newspaper said, citing state and federal officials briefed on the investigation.</p>
<p>In the first action under the program, federal prosecutors have already brought a lawsuit against Four Oaks Bankfor being "deliberately ignorant" about processing payments on behalf of merchants, the report said.</p>
<p>About $2.4 billion was illegally <a href="http://link.reuters.com/rab46v">withdrawn</a> from checking accounts of U.S. customers by companies enabled by Four Oaks Bank, the New York Times said.</p>
<p>The bank later negotiated a civil settlement of about $1.2 million with federal prosecutors.</p>
<p>However, a federal crackdown on banks remain tough as their role in siphoning off money is largely in the background with banking services being provided to third-party payment processors, who manage payments for their trading customers, the newspaper reported.</p>
<p>The move has attracted criticism from congressional lawmakers, who accused the Department of Justice of trying to covertly quash the payday lending industry, according to the newspaper.</p>
<p>The Department of Justice could not be immediately reached for comments outside of regular U.S. business hours.</p>
<p>(Compiled by Shubhankar Chakravorty in Bangalore; Editing by Gopakumar Warrier)</p>

US Federal Prosecutors Are Investigating Whether Banks Helped Payday Lenders Siphon Billions From Americans

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span><a href="http://www.flickr.com/photos/dlaferriere">David Laferriere</a></span></p></div><p></p></div></div>(Reuters) - Apple Inc has repurchased $14 billion of its stock in the two weeks since it reported disappointing first-quarter results, a company spokesman said.</p>
<p>Apple bought $12 billion of shares via an accelerated share repurchase program (ASR) and $2 billion of shares from the open market, the spokesman said. An ASR usually involves a company buying its shares from an investment bank.</p>
<p>The news was first reported by the Wall Street Journal, which interviewed Apple Chief Executive Tim Cook.</p>
<p>Cook told the paper that Apple was surprised by the 8 percent decline in its shares on January 28, the day after it reported quarterly results.</p>
<p>Apple shares fell after the company reported lower-than-expected holiday-period iPhone sales and issued a weak revenue forecast.</p>
<p>With the latest round of repurchases, Apple has bought back more than $40 billion of its shares over the past 12 months, which Cook said was a record for any company over a similar span. (http://link.reuters.com/xas66v)</p>
<p>"It means that we are betting on Apple," Cook said.</p>
<p>"It means that we are really confident on what we are doing and what we plan to do. We are not just saying that. We are showing that with our actions."</p>
<p>The share buyback was part of Apple's plan to repurchase $60 billion of its shares.</p>
<p>Excluding the latest purchases, Apple returned $7.7 billion to shareholders through dividends and buybacks in the December quarter, bringing the total under its capital return program to $43 billion.</p>
<p>Cook told the paper that Apple would issue updates on its buyback program in March or April.</p>
<p>(Reporting by Sakthi Prasad in Bangalore and Eddie Chan in Los Angeles; Editing by Gopakumar Warrier)</p>

Apple Buys Back $14 Billion Of Shares In Two Weeks Since Results

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source">REUTERS/Stephen Lam </p><p class="caption"><keyword id="6363100" type="CITY" weightage="60" keywordseo="Yahoo">Yahoo</keyword> CEO Marissa Mayer.</p></div><p></p></div></div>(<keyword id="76338" type="CITY" weightage="60" keywordseo="Reuters">Reuters</keyword>) - Eight U.S. web giants have joined hands to start a public campaign for new limits on how governments collect user information amid concerns of growing online surveillance.</p>
<p>The companies - <keyword id="6355629" type="CITY" weightage="60" keywordseo="Google">Google</keyword> Inc, <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword> Corp, Apple Inc, <keyword id="6354576" type="CITY" weightage="60" keywordseo="Facebook">Facebook</keyword> Inc, Twitter, LinkedIn Corp, Yahoo Inc and <keyword id="73644" type="COMPANY" weightage="60" keywordseo="AOL">AOL</keyword> Inc - issued an open letter to U.S. President Barack Obama and Congress to bring in reforms and restrictions on surveillance activities.</p>
<p>Documents leaked by former spy agency contractor Edward Snowden revealed that the National Security Agency had penetrated and perhaps targeted some of the companies, prompting Microsoft, Google and Yahoo to increase the amount of encryption.</p>
<p>The letter said the companies understood that governments need to protect their citizens' safety and security, but they believed the current laws and practices need to be reformed.</p>
<p>The 'Reform Government Surveillance' campaign details five major concerns including limiting governments' authority to collect users' information, transparency about government demands and avoiding conflicts among governments. </p>
<p>Obama said last week he intends to propose <keyword id="38879" type="ORGANIZATION" weightage="60" keywordseo="NSA">NSA</keyword> reforms to reassure Americans that their privacy is not being violated by the agency.</p>
<p>"The security of users' data is critical, which is why we've invested so much in encryption and fight for transparency around government requests for information," Google CEO Larry Page was quoted on the website. "This is undermined by the apparent wholesale collection of data, in secret and without independent oversight, by many governments around the world. It's time for reform and we urge the U.S. government to lead the way."</p>
<p>In a step aimed at reassuring nervous users abroad, last week, Microsoft pledged to fight in court any attempt by U.S. intelligence agencies to seize its foreign business customers' data under American surveillance laws.</p>
<p>(Reporting by Chris Peters and Rohit T.K. in Bangalore; Editing by Gopakumar Warrier)</p>

A Bunch Of Major Tech Companies Have Asked The Government To Change How It Spies On People

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span>REUTERS/Jason Lee</span></p><p class="caption">A security guard walks past an IBM poster at China International Software Exhibition in Beijing June 2, 2006.</p></div><p></p></div></div>(Reuters) - The Chinese government is pushing domestic banks to remove high-end servers made by International Business Machines Corp and replace them with a local brand, the latest move by Beijing over U.S. spying claims, Bloomberg reported on Tuesday.</p>
<p>The news comes a day after China accused the United States of "unscrupulous" cyber surveillance that included large-scale computer attacks against the Chinese government and Chinese companies. Government agencies, including the People's Bank of China [CNBNK.UL] and the Ministry of Finance, are reviewing whether Chinese commercial banks' reliance on the IBM servers compromises the country's financial security, the report said citing people familiar with the matter.</p>
<p>A spokesman at the National Development and Reform Commission said the country's top economic planner has not told companies to change their IBM servers, nor received orders from higher levels of the government to do so.</p>
<p>Officials at IBM were not immediately available for comment. The central bank and the finance ministry did not immediately respond to request for comment when contacted by Reuters.</p>
<p>The results of the government review will be submitted to a working group on Internet security chaired by Chinese President Xi Jinping, Bloomberg reported.</p>
<p>Sources at China's "big four" state-owned banks said they had no knowledge of the reported pressure for a technology change, saying any replacement of banks' systems is not an easy task.</p>
<p>"We haven't heard about the order," an official at one of the bank's IT department said, declining to be identified because he is not allowed to speak to the media.</p>
<p>"There aren't any locally made hardware around that can handle the massive amount of data in the banking industry."</p>
<p>China told its state-owned enterprises to sever links with American consulting firms just days after the United States charged five Chinese military officers with hacking U.S. companies, the Financial Times reported on Sunday.</p>
<p>(Reporting by Xie Heng, Kang Xize, Koh Gui Qing and Aileen Wang in Beijing, Bi Xiaowen in Hong Kong and Arnab Sen in Bangalore; Writing by Kazunori Takada; Editing by Gopakumar Warrier and Kenneth Maxwell)</p>

China Wants Banks To Remove High-End IBM Servers Amid Spy Dispute

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"></div><p></p></div></div>NEW YORK (Reuters) - Amazon.com Inc <amzn.o> has halted pre-orders of some Disney movies, the Wall Street Journal reported, in what appears to be another contract dispute after the online retailer began a protracted spat with publisher Hachette Book Group this year.</amzn.o></p>
<p>Physical copies of titles such as "Maleficent" and "Captain America: The Winter Soldier" were unavailable for order on Amazon.com on Sunday. Digital copies of some of the movies in question were still available for pre-order.</p>
<p>Amazon.com did not immediately respond to a request seeking comment on the report. A Disney spokesman had no comment.</p>
<p>Amazon has been waging a battle against Hachette, the fourth-largest U.S. book publisher, over the price the online retailer can charge for e-books. Hachette is owned by France's Lagardere.</p>
<p>A group called Authors United ran a two-page ad in the New York Times on Sunday, criticizing Amazon for halting pre-orders from some Hachette authors and slowing delivery of books by Hachette authors. The ad was signed by more than 900 writers, including Stephen King and Donna Tartt.</p>
<p>In response, Amazon.com's Books Team ran a message on a website (http://www.readersunited.com/) on Friday evening reiterating its arguments for cheaper ebooks, and suggested people email Hachette CEO Michael Pietsch. The company published Pietsch's email address and listed key points people might want to make. [ID:nL2N0QF0FJ]</p>
<p>Pietsch replied to every individual who emailed him saying that the dispute started because Amazon is seeking a lot more profit and even more market share at the expense of authors, bookstores and Hachette.</p>
<p>"Both Hachette and Amazon are big businesses and neither should claim a monopoly on enlightenment, but we do believe in a book industry where talent is respected and choice continues to be offered to the reading public," Pietsch wrote on Sunday, a copy of which was emailed to Reuters.</p>
<p>"Once again, we call on Amazon to withdraw the sanctions against Hachette's authors that they have unilaterally imposed, and restore their books to normal levels of availability."</p>
<p>Amazon says pricing e-books at $14.99 or $19.99 is too expensive. It argues that cheaper e-books sell more copies and so ultimately generate more revenue and more royalties for authors.</p>
<p>(Reporting by Luciana Lopez; Additional reporting by Lisa Richwine and Ronald Grover in Los Angeles, and Ankush Sharma in Bangalore; Editing by Alison Williams, Sonya Hepinstall and Gopakumar Warrier)</p>

Amazon Reportedly Stops Some Disney Movie Preorders Over Spat With Hachette

SRK, Rajnikanth, Ranveer Singh set to fire up the silver screens in 2023: Here are the most-anticipated upcoming Indian movie releases

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>(Reuters) - Apple's move to line up deals with record labels is under U.S. antitrust scrutiny as the iPhone maker prepares to debut a new version of the Beats Music streaming service, <a href="http://www.bloomberg.com/news/articles/2015-05-06/apple-said-under-u-s-scrutiny-over-deals-for-new-beats">Bloomberg reported, citing people familiar with the matter</a>.</p><p>The Federal Trade Commission (FTC) is examining if Apple is using its position as the top seller of music downloads through its iTunes store to put rival music services like Spotify at a disadvantage, according to Bloomberg.</p><p>Apple bought Beats last year hoping to win points with the music industry and turn Beats Music into a strong competitor to Spotify and other streaming services.</p><p>Apple and the FTC did not immediately respond to requests seeking comment outside regular business hours.</p><p><a href="http://www.bloomberg.com/news/articles/2015-05-06/apple-said-under-u-s-scrutiny-over-deals-for-new-beats">Here is the key section from the Bloomberg story:</a></p><p style="padding-left: 30px;">The FTC's inquiry could complicate Apple's planned revamp of Beats Music this summer. Apple has approached more than a dozen artists including Florence and the Machine for limited exclusive rights to music and partnerships to help bolster the service, people familiar with the effort have said.</p><p style="padding-left: 30px;">FTC officials have discussed Apple's practices with more than one record label, according to music-industry executives with knowledge of the matter.</p><p style="padding-left: 30px;">The FTC's investigators, still in the early stages, of their inquiry, are asking whether Apple's efforts will change the way music labels work with other streaming services, for example curtailing ad-supported music and pushing more songs into paid tiers of service at higher rates, according to one of the people.</p><p style="padding-left: 30px;">Apple hasn't made such demands on the labels, according to the music-industry executives.</p><p>That last sentence - that Apple has not demanded streaming apps curtail or end their provision of free music - is really interesting because <a href="http://uk.businessinsider.com/free-music-streaming-was-a-big-experiment--and-now-major-record-labels-are-declaring-it-a-failure-2015-5">music industry execs are now widely in favor of ending free music</a>. Although apps like Spotify and Pandora pay record labels for their "free" music (and then recoup that by selling ads), record labels believe the practice has the long term effect of teaching consumers that they need not ever pay for music. Vinyl, CD and iTunes-style digital dowbnload sales have all collapsed as consumers have switched listening habits in the last few years to favor free, ad-supported streaming.</p><p>It would also be hugely risky for Apple to reach agreements with record labels that restrict them from also placing music on other services. That would look like anti-competitive behavior. <a href="http://www.businessinsider.com/why-its-insane-that-no-one-cares-about-apples-price-fixing-conspiracy-2013-7">Apple already lost a massive price-fixing case in the US</a> over its efforts to reach agreements with book publishers over the prices of online books. That case stemmed from a series of meetings in which Apple persuaded major publishers to all agree to raising prices at the same time, on the same terms, largely to hurt Amazon. </p><p><a href="http://uk.businessinsider.com/apple-antitrust-lawsuit-on-itunes-and-ipod-2014-12">Apple was also accused, unsuccessfully, in a lawsuit of fixing prices on iTunes</a> when the iPod launched. No other music sellers were allowed to offer music that could be downloaded onto the iPod at the time, even if they offered lower prices.</p><p>So far, we haven't heard Apple's side of the arguments. People are assuming that Apple would love to gather artists and labels around its new product, and have them launch first or exclusively with Apple in a way that they all make money. That would have a distorting effect on free streaming, leaving Apple open to the accusation that it uses its dominance of the iPhone business to hurt companies in the streaming world. But this may not be Apple's plan - and until we hear what that plan is, much of the <span> speculation here is </span>smoke with very little fire. </p><p>(Editing by Gopakumar Warrier)</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/wingsuit-flight-over-new-york-city-red-bull-2015-3">This wingsuit flight over New York City is an adrenaline junkie's dream</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="5sNWwzdDqPPePCD6jSfPngCbkjp7pzwk" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "Warrier" and got 10 results

The cost of trickling losses you don’t know of, can cripple your organisation

Guest Author

Delta is flying again after a massive computer outage shut down the airline

Benjamin Zhang,Reuters

Phil Mickelson Did Not Trade Shares In Clorox

Reuters

US Federal Prosecutors Are Investigating Whether Banks Helped Payday Lenders Siphon Billions From Americans

Reuters

Apple Buys Back $14 Billion Of Shares In Two Weeks Since Results

Reuters

A Bunch Of Major Tech Companies Have Asked The Government To Change How It Spies On People

Reuters

China Wants Banks To Remove High-End IBM Servers Amid Spy Dispute

Reuters

Amazon Reportedly Stops Some Disney Movie Preorders Over Spat With Hachette

Reuters

SRK, Rajnikanth, Ranveer Singh set to fire up the silver screens in 2023: Here are the most-anticipated upcoming Indian movie releases

Srishti Magan

Apple's Beats Music deals are now under FTC scrutiny

Reuters and Jim Edwards