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CYBER ATTACK: World’s biggest meat supplier under threat

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The world’s biggest meat supplier is the victim of a cybersecurity attack in the latest threat to global food supply chains.

JBS SA shut its Australian and North American computer networks after an organised assault on servers.

JBS says the incident may delay certain transactions with customers and suppliers.

There are reports staff have been sent home as a result.

The attack sidelined two shifts and halted processing at one of Canada’s largest meatpacking plants.

JBS Foods Australia is the country’s largest meat and food processing company, operating technologically advanced production and value-added facilities and feedlot.

Federal government takes action to minimise impact on supply chain

Federal Agriculture Minister David Littleproud confirmed the government was aware of the hack and was working to get the company nationally back online.

“We’re obviously working with law enforcement here in Australia and we’re also working with our international partners,” Mr Littleproud said, as reported by ABC.

“It’s under investigation and it’s important that we respect that process.

“The technology that [JBS] use, the systems they 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.”

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 the operator of the biggest U.S. gasoline pipeline was targeted.

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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