Bloomberg LP Financial Services New York, NY 1,170,739 followers Bloomberg is the global leader in business and financial data, news and insight. Others were technical, including source code that represented some of the most sensitive information owned by Nortel Networks Corp., then one of the world’s largest companies.At its height in 2000, the telecom equipment manufacturer employed 90,000 people and had a market value of C$367 billion (about $250 billion at the time), accounting for more than 35% of Canada’s benchmark stock market index, the TSE 300. Starting in the late 1990s, the Canadian Security Intelligence Service, the country’s version of the CIA, became aware of “unusual traffic,” suggesting that hackers in China were stealing data and documents from Ottawa. In fact Bloomberg’s money, or the promise of it, did buy a serious campaign.
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.Grow your practice, raise your profile, and become an indispensable adviser with resources to help you:Guide your C-suite on critical legal and business issues, protect your company with business intelligence, and get breaking news and insights to help you:Elevate the law school experience and develop essential practice and career skills with resources to help you:Access breaking news as it unfolds from more than 250 reporters all over the world, including the largest number of credentialed reporters on the Hill.Conduct faster and more accurate research with our award-winning AI-powered Points of Law, get access to the best dockets tools, and inform litigation strategy with integrated analytics.Take your litigation practice to the next level. “This is plain and simple: Economic espionage did in Nortel,” Shields says.
The BLOOMBERG TERMINAL service and data products, BLOOMBERG Data, and BLOOMBERG Order Management Systems (the 'Services') are owned and distributed by Bloomberg Finance L.P. ('BFLP') except in Argentina, Australia and certain jurisdictions in the Pacific islands, Bermuda, China, India, Japan, Korea and New Zealand, where Bloomberg L.P. and its subsidiaries ('BLP') distribute these products. There were close to 800 of them: PowerPoint presentations from customer meetings, an analysis of a recent sales loss, design details for an American communications network.
2—behind Samsung Electronics Co. and ahead of Apple Inc.— in the phone making business.But Huawei’s real power lies in its control over the plumbing of the Digital Age. “They didn’t do anything.”By 2004 the hackers had breached Nortel’s uppermost ranks. “Nobody would ever tell me I couldn’t do something.”Nortel’s giddy, gilded growth also made it a target.
“They were taking the whole contents of a folder—it was like a vacuum cleaner approach,” says Brian Shields, who was then a senior adviser on systems security and part of the five-person team that investigated the breach.Years later, Shields would look at the hack, and Nortel’s failure to adequately respond to it, as the beginning of the end of the company.
The Nortel Job. The documents began arriving in China at 8:48 a.m. on a Saturday in April 2004. Perhaps because of the hubris that came from being a market leader, or because it was distracted by a series of business failures, Nortel never tried to determine how the credentials were stolen. But Shields, and many others who’ve looked into the case, have a strong suspicion it was the Chinese government, which weakened a key Western rival as it promoted its own technology champions, including Huawei Technologies Co., the big telecom equipment manufacturer. “Any allegations of Huawei’s awareness of or involvement in espionage are entirely false,” the company says in a statement. By saving your settings you are agreeing to the use of these tools. The measures will be in addition to emergency aid to protect jobs and companies during the lockdown and a series of support plans for sectors including tourism and auto and aircraft manufacturing.
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