Daily Brief: Google hit with $2.7bn fine, World hit by second major cyberattack in weeks, IPOs in H1 2017 reach $83bn
Data Economy is proud to launch the Data Economy Daily Brief.
The Data Economy Daily Brief features a list of short news stories on events in and out of the data centre sphere that are relevant to those operating in this space.
Global Petya cyberattack sparks chaos and revolt
Less than a month since the Wannacry attack hit thousands of computers worldwide, businesses from Australia to the US are again being faced with a new cyber threat.
With first reports coming from Ukraine – where government, airports and even the Chernobyl nuclear power plant were hit -, elsewhere ransomware attacks were registered.
Kaspersky is keeping a close eye on the case, and has found at least 2000 cases of infection, with Ukraine, Russia, Poland, Italy and Germany being the most affected. Interpol is also monitoring the situation.
Of all the responses to the crisis, the UK has stand out on the international stage with Defence Secretary Sir Michael Fallon suggesting that Britain could launch military retaliation to future attacks.
He said that attackers that target and hit UK IT systems, “could invite a response from any domain – air, land, sea or cyberspace”.
EU hits Google with record-breaking $2.7bn fine
Online search engine Google, also known for its hyperscale data centre campuses, has been fined $2.7bn by the European Union (EU) over accusations of abusing its power in shopping search results.
The commission said Google has favourited its own shopping comparison service in searches, resulting in the EU’s largest fine to date.
Margrethe Vestager, the European Union’s Competition Commissioner, said: “What Google has done is illegal under EU antitrust rules. It has denied other companies the chance to compete on their merits and to innovate, and most importantly it has denied European consumers the benefits of competition, genuine choice and innovation.”
Google has now been given 90 days to stop its “illegal” activities. Failure to do so will result in the Silicon Valley giant being charged $14m per day, equivalent to 5% of the average daily global earnings of its parent company Alphabet. Google said it may appeal.
2017 with strong $83bn IPO activity
The global IPO volume in H1 2017 was up 70% (772 IPOs) and capital raised was also up 90% ($83.4bn) compared with H1 2016.
According to the latest EY Global IPO Trends: Q2 2017, the Asia-Pacific region led the global IPO market in terms of volume and proceeds, accounting for 61% (468) of IPOs worldwide and 44% ($37bn) of global proceeds.
The Americas region accounted for 13% of global IPOs (99 IPOs raising $25.8bn), and was led by the US.
As for EMEIA, the region represented 26% of global IPOs, with volume increasing by 22% (205) and proceeds increasing by 9% ($20.5bn in H1 2017; $18.9bn in H1 2016) in the first half of the year.
Fujitsu to invest $100m in Australian data centres
Fujitsu has unveiled plans to invest as much as $100m in the upgrading of four data centre facilities in Australia in an attempt to minimise the occurrence of outages.
Speaking to Financial Review, Fujitsu’s Australia and New Zealand chief executive Mike Foster, said the upgrades will help achieve the Tier IV certification for all facilities.
“The ratings have been around for years and in the past it just has not been commercially viable to make the centres Tier IV, but now people are starting to say they do not want their systems to go down at all,” he said.
“We had an outage and even though we still performed within Tier III levels, we realised that was no longer where the market was at.”
Uptime Institute reaches 1000 certifications
The Uptime Institute has awarded its 1000th Tier certification for data centres around the world. The organisation said certifications have “more than tripled” over the last five years “reflecting the global industry demand for predictable levels of performance”.
Lee Kirby, president of Uptime Institute, said: “The Tier Standard continues to be the most recognised and adopted standard for assessing mission critical infrastructure.
“Its focus on price vs. performance enables organisations to align their IT cost structures with their business service delivery strategies.”
Enterprises are wasting $140bn with data trapped in legacy systems
Businesses in the US and the UK are missing out on an economy worth $140bn due to their disconnected data roadmaps which are hindering innovation, development and growth, a study has revealed.
Commissioned by SnapLogic and conducted by independent research firm Vanson Bourne, the research has found that 47% of companies in the two markets believe disconnected data is negatively impacting their organisation’s ability to innovate, develop new products and services and get them to market quickly.
Furthermore, 46% said their bad data strategy is also negatively impacting their ability to engage, support, and meet the needs of customers.