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U.S President to raise cyber security with Putin

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Just days after a crippling cyber hack on global meat producer JBS, President Joe Biden is preparing to discuss the matter directly with Russia’s President Vladimir Putin.

Biden is reviewing the threat posed by ransomware attacks and will discuss the issue of harboring such hackers with Putin this month.

The leaders will meet in Geneva on June 16, amid sharp disagreements over election interference and human rights.

This week, the hack of Brazilian meatpacker JBS in the United States, became the third such ransomware hack in the country since January.

JBS told the White House this week it originated from a criminal organization likely based in Russia.

The FBI is now investigating.

President Biden was asked about the hack at the end of his news conference.

What threat will this incident have on food security with operations being impacted?

The cyber attack on JBS comes as the latest threat to global food supply chains.

The attack focused on the Brazilian company’s computer networks, impacting the five biggest beef plants in the US, all up handling 22 thousand 500 cattle a day.

It shut JBS’ Australian and North American computer networks and sidelined two shifts. This further halted processing at one of Canada’s largest meatpacking plants, but that beef facility has since resumed production.

Australian Operations were also down, whereas operations in Mexico and the U.K. were not affected.

Australia’s federal government took action to minimise impact on supply chain, Federal Agriculture Minister David said the technology and “systems they [JBS] use, go to the heart of the quality assurance of the beef that they process.”

“So we need to make sure that we can get that up and going to give confidence, not just to consumers here in Australia, but also to our export markets,” he said on Tuesday.

Despite the impact, the company was able to ship product from nearly all of its facilities to its customers.

Tenable’s Vice President of Operational Technology Security, Marty Edwards, says companies part of the food supply chain are ‘fairly resilient”

Concerns after cyber attack on U.S pipeline impacted gas supply

JBS has 47 facilities across Australia and operates the largest network of production facilities and feedlots in the country.

Hackers have the commodities complex in their crosshairs, with the JBS attack coming just three weeks after Darkside targeted the biggest US gasoline pipeline.

The Colonial Pipeline experienced a cyberattack that shut down its nationwide network on 7 May. As such, millions of barrels of petrol, diesel and jet fuel stopped flowing.

The hackers are from Russia’s “DarkSide”, who allegedly steal from larger corporations and give the ransom funds to charity.

After the cyberattack, President Joe Biden signed an executive order to strengthen cybersecurity defences across the US.

Business

Why luxury brands are not feeling inflation

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New data shows luxury brands are not feeling the pinch of inflation, thanks to the ultra-rich indulging in their products

Luxury brands are not worried about the impact of the global economic meltdown.

While prices of food and gas have skyrocketed, spare a thought for the ultra-rich dealing with the rising cost of sneakers and sports cars.

High end retailers like Dior, Louis Vuitton and Versace are all reporting strong sales and are hiking their profit forecasts.

The upbeat view is at odds with fears for the global economy.

However, this is nothing new, in fact it’s in line with past economic slowdowns according to the experts.

The rich are often the last to feel the impacts of a tightening economy, while spending among lower income consumers is squeezed by inflation.

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Johnson & Johnson will stop selling talcum baby powder

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Amid a rising number of lawsuits, Johnson & Johnson will officially cease production of its talcum baby powder.

Company executives say the decision follows a severe decline in sales right around the world.

The move also follows a number of lawsuits which claim the product causes cancer due to its contamination with asbestos.

Mined from the earth, Talc and lies very close to where carcinogenic asbestos comes from.

J&J says demand has fallen due to so-called ‘misinformation’ about the powder’s safety.

“We stand firmly behind the decades of independent scientific analysis by medical experts around the world that confirms talc-based Johnson’s baby powder is safe, does not contain asbestos, and does not cause cancer,” it said in a statement.

But an investigation by Reuters back in 2018 discovered the organisation knew for decades that asbestos was present in its talc products.

The global shift away from talcum powder comes more than two years after the healthcare giant ended sales of the product in both the U.S. and the UK.

The company says the powder will now be created from cornstarch.

“As part of a worldwide portfolio assessment, we have made the commercial decision to transition to an all cornstarch-based baby powder portfolio,” it said in a statement.

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Twitter will crack down on false reporting ahead of U.S. Midterms

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Twitter is seeking to put the truth first as this November’s mid-terms fast approach

Twitter says false and misleading posts will be fact-checked in a bid to promote accurate reporting.

Twitter will apply its ‘civic integrity policy’, which was first rolled out in 2018.

The policy stops users from posting misleading content that can dissuade people from voting.

There will also be a crack down on claims that undermine the public’s confidence in the results.

It follows the 2020 Presidential election, where the company was accused of not doing enough to stop the spread of misinformation.

All 435 seats in the U.S. House will be up for grabs alongside around a third of senate seats.

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