September 22—When the Colonial Pipeline was hacked last spring, it forced the company’s only complete operational shutdown in 57 years, ceasing its normal daily transport of 2.5 million barrels of fuel for five days. This is just one instance of widespread cybercrime in the past 12 months. Online attackers are getting increasingly sophisticated, finding new ways to outsmart our defenses.
September 22, 2021—At a White House cybersecurity summit in August, President Biden described cybersecurity as a “core national security challenge… and the federal government can’t meet this challenge alone,” in a blunt assessment of our critical infrastructure resiliency. The issue of cybersecurity is hardly new and is only growing as we move towards an increasingly digitized world.
September 21, 2021—China Evergrande Group is at the center of media headlines and investor concern, stoking fear around China’s property market and coinciding with higher volatility in equity markets. Below we cover our view on the evolving issues and main questions we are hearing from clients. In short, Evergrande presents a risk to China’s property market and economic outlook, but broader systemic threat to financial markets remains a tail risk event.