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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.

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Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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