global supply chains News

Cyber Pirates Prowling Ship Controls Threaten Another Big Shock

In February 2019, a large container ship sailing for New York identified a cyber intrusion on board that startled the US Coast Guard. Though the malware attack never controlled the vessel’s movement, authorities concluded that weak defenses exposed critical functions …

Taiwan iPhone Chipmaker Scrambles to Recover After Debilitating Computer Virus

Taiwan Semiconductor Manufacturing Co. (TSMC), which makes chips for the iPhone and other devices, is recovering from a debilitating computer virus but warned of delayed shipments and reduced revenue because of the impact on its factories. TSMC said that 80 …

Kobe Steel Assesses Extent of Costly, Habitual Data Product Tampering

When cheating becomes habitual, the consequences could be costly. Embattled Kobe Steel Ltd said on Tuesday the U.S. Justice Department is asking the steelmaker to provide documents related to its data falsification scandal. That came after a source with knowledge …

Kobe Steel Scandal Hits Global Supply Chains as Financial, Legal Fallout Grows

Just over a week out from revelations of a cheating scandal that plunged Kobe Steel Ltd. in crisis and ensnared hundreds of firms, the embattled steelmaker’s shares skidded to five-year lows on Monday as investors worried about the financial and …

Kobe Steel Supply Chain Scandal Spreads; 500 Customers Used Affected Products

The cheating crisis engulfing Kobe Steel Ltd just got bigger. Chief Executive Hiroya Kawasaki on Friday revealed that about 500 companies had received its falsely certified products, more than double its earlier count, confirming widespread wrongdoing at the steelmaker that …

Top 10 Corporate Risks in 2014: Allianz Risk Barometer

Business interruption (BI) and supply chain, natural catastrophes and fire/explosion top the list of company risks in 2014, according to the third annual Allianz Risk Barometer, which surveyed over 400 corporate insurance experts from 33 countries. The survey conducted by …

Thai Floods Force Closure of 17 Factories in Industrial Zone

Seventeen factories were temporarily shut on Monday in a major Thai industrial zone dominated by foreign companies, after flood waters blocked nearby roads, a senior official said. But the official did not identify the stricken plants at the Amata Nakorn …

As Political Risks Proliferate, Insurers Increase Coverage Options

Could it happen to us? Tourism, manufacturing and resources companies surveying an unpredictable world are increasingly having to consider insurance against political risks, and the insurance industry is gearing up to provide more cover. The small print of a regular …