Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona

Microsoft Azure Outage Traced to DDoS Cyberattack

 

Microsoft Corp has revealed that a recent outage of its Azure cloud services was the result of a distributed-denial-of-service (DDoS) cyberattack.

The DDoS attack, which began early Tuesday, was exacerbated by an error in Microsoft's automated protection systems, which inadvertently worsened the impact instead of mitigating it, according to a status update from the company.

Key Points:

  • Affected Regions and Services: The attack impacted multiple regions and services running on Azure. For instance, mobile ordering at Starbucks Corp was disabled for hours due to Azure issues, a source said.

  • Nature of Attack: Denial-of-service attacks overwhelm a website with internet traffic, causing disruptions or shutdowns. These attacks are a persistent challenge for financial institutions, causing periodic downtime and requiring extensive efforts from security teams to counteract.

  • Outage Reports: Reports of outages on Azure and Microsoft 365 began to increase shortly after 7 am in New York, reaching hundreds of complaints at the peak, according to Downdetector. The incident was resolved by about 5 pm in New York.

  • Microsoft 365 Impact: The outage also affected several Microsoft 365 services and features, including Outlook, Word, and Excel.

  • Starbucks Recovery: Mobile ordering for Starbucks was largely restored by about 1 pm in New York, with the company working to address ongoing limited interruptions.

Previous Incidents and Response:

  • Recent Cybersecurity Issues: Earlier in the month, eight million Windows-operated computers crashed following a flawed software update from cybersecurity firm CrowdStrike Holdings Inc. Microsoft has also been dealing with the aftermath of several cyberattacks, prompting a critical report from the US government calling for companywide changes.

  • Microsoft's Cybersecurity Efforts: Despite the setbacks, Microsoft CEO Satya Nadella emphasized the company's commitment to cybersecurity during a conference call on Tuesday, following the release of quarterly earnings. He highlighted that Microsoft has over 1.2 million security customers and continues to prioritize security.

“We continue to prioritize security above all else,” Nadella stated.

As Microsoft addresses the fallout from the DDoS attack and other recent cybersecurity challenges, it remains committed to enhancing the resilience and reliability of its cloud and productivity services.

Comments

Popular posts from this blog

INTC Share Watch and News

Stock Info Market Monitor Company Profile Intel Corporation designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also offers system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. It also provides chipset products that send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive, and CD or DVD drives; motherboards that has connectors for attaching devices to the bus, and products designed for desktop, server, and workstation platforms; and wired and wireless connectivity products, including network adapters and embedded wireless cards used to translat

Analysts See Asset Resilience of Bank of Chengdu Benefiting Hong Leong Bank

Analysts predict that the asset quality of Bank of Chengdu, in which Hong Leong Bank Bhd holds a 19.76% stake, will remain robust due to its strict risk management policies and proactive measures. Key Takeaways: Strong Risk Management Practices : According to CIMB, Bank of Chengdu has adopted a conservative risk culture, performing thorough assessments of location, developer reputation, project viability, and management integrity before financing property projects. The bank closely monitors early warning signals like construction progress, sales progress, budget overruns, and fund usage by developers to mitigate potential risks. Proactive Measures Against Property Slowdown : The bank's precautionary measures allowed it to reduce exposure to problematic property loans and exit risky loans before China's property market slowdown. This conservative approach is expected to benefit Hong Leong Bank by minimizing potential asset quality concerns. Continued Optimism and Buy Recommendat

Investors Keep Buying US Junk Debt Despite Weak Protections

  When US-based construction material supplier Wilsonart issued a junk bond to raise US$500 million (RM2.13 billion) for an acquisition this summer, a research firm warned potential investors about the bond's weak protections. The bond’s covenants could allow the company to move valuable assets to another entity and raise more money, potentially disadvantaging bond investors, according to Covenant Review , a research firm. This warning comes amid growing concerns in credit markets as more companies engage in practices like "liability management exercises," where they borrow more against the same assets. These practices, often favoring some creditors over others, have been dubbed "creditor-on-creditor violence," prompting some creditors to unite to protect their interests. Despite the warnings, investors eagerly purchased Wilsonart's offering, underscoring a paradox in US credit markets. While investors face the consequences of weak covenants, they continu