Widespread Cybersecurity Concerns in the Automotive Industry, Social Media, and Beyond

Strategic Insights -

U.S. regulators at the National Highway Traffic Safety Administration (NHTSA) have expressed concerns that the recent cybersecurity issues affecting Fiat Chrysler Automobiles could spread to other automakers. Meanwhile, Facebook announced plans to test solar-powered drones capable of delivering internet services to remote areas, and other news stories highlight the slow pace of wage growth in the U.S., Greece's reopening of its stock market after a five-week shutdown, and trade disputes between the U.S. and China. Additionally, a potentially life-threatening vulnerability in hospital infusion pumps and the impact of ride-hailing services on drunken driving deaths are among the various topics covered in the latest business and technology news.

Key Takeaways:

  • The NHTSA is investigating how many automakers received wireless components from the same supplier that affected Fiat Chrysler, with concerns about the potential spread of cybersecurity issues in the industry.
  • Facebook has developed a solar-powered drone with a 140-foot wingspan, weighing less than 1,000 pounds, capable of flying for up to three months at high altitudes to deliver internet services.
  • U.S. wages and benefits grew at the slowest pace in 33 years, with the employment cost index showing a 0.2 percent increase in the April-June quarter.
  • Greece's stock market is reopening after a five-week shutdown, with local investors facing restrictions on capital flight.
  • The World Trade Organization found China guilty of violating global trade rules by imposing duties on specialty steel imports, a decision in favor of the U.S. and Midwestern steelmakers AK Steel and Allegheny Ludlum.
  • A potentially life-threatening vulnerability was discovered in hospital infusion pumps manufactured by Hospira, prompting regulators to recommend their immediate discontinuation.
  • Ride-hailing services such as UberX, Lyft, and Sidecar could reduce the rate of drunken driving-related deaths by 3.6 percent, according to research at Temple University's Fox School of Business.
  • A wrongful death lawsuit was settled for $1.2 million over a keg explosion at a New Hampshire brewery, where a worker died in 2012.

Statistics:

  • 1.4 million vehicles were recalled by Fiat Chrysler Automobiles due to cybersecurity issues.
  • The solar-powered drone developed by Facebook has a 140-foot wingspan and weighs less than 1,000 pounds.
  • The employment cost index increased by 0.2 percent in the April-June quarter, the smallest gain in 33 years.
  • Greece's stock market was shut for five weeks before reopening with restrictions on capital flight.
  • 3.6 percent is the potential reduction in drunken driving-related deaths due to ride-hailing services.
  • $1.2 million is the settlement amount in the wrongful death lawsuit over a keg explosion at a New Hampshire brewery.

Sources:

  • Reuters
  • Associated Press
  • Labor Department
  • Athens Stock Exchange
  • World Trade Organization
  • Food and Drug Administration
  • Temple University's Fox School of Business
  • The Portsmouth Herald
  • Wire reports