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Archive for the 'General' Category

Market Snapshot: Stock rally to test its sticking power as traders return to work

Market Snapshot: Stock rally to test its sticking power as traders return to work
Like so many New Year’s revelers, the U.S. stock market may try to stick to its resolutions — and fail miserably.

Government Cracks Down on Unfair Credit Card Practices

Government Cracks Down on Unfair Credit Card Practices
The federal government today approved new rules that would ban certain financial institutions from engaging in unfair credit card practices.

2009 security predictions: Deja vu all over again

The security industry is fueled largely by FUD (fear, uncertainty, doubt.) So it's not unusual for most forecasts in the industry to be full of grim prognostications of imminent chaos and calamities.

By that measure, the predictions contained in several recent security forecasts for 2009 will probably be somewhat of a relief for security managers.

[ Learn how to secure your systems with Roger Grimes' Security Adviser blog and newsletter, both from InfoWorld. ]

Most of the security vendors' forecasts predict dramatic spikes in volumes of spam, phishing, botnet activity, and malware targeted at companies. The reports also highlight sharp increases in attacks directed against Web and mobile applications. But the concerns largely deal with issues that security managers are already familiar with, and there are few, if any, really nasty new threats in store around the corner, according to the forecasts.

Like with years past, forecasts are colored by the vendor's specific view of their places in the market. For example, VeriSign, a provider of Internet infrastructure services, predicted increased attacks against critical targets including SCADA (Supervisory Control and Data Acquisition ) systems, which deliver power. Desktop security software vendor Sophos, meanwhile, warned about dramatic increases in malicious e-mail attachments, and huge spikes in spam volume. And Web application security product vendors predicted an increase in Web attacks.

Together the forecasts paint a picture of a threat environment, while not pretty, looks largely like the one this year — except that it will have more of everything. Among the forecasts were the following:

– In 2009, more than 80 percent of all malicious content will be hosted on sites with "good" reputations, according to Web app security vendor Websense. Continuing a new trend, attackers will also move to a distributed model for controlling botnets and for hosting malicious code. Such "fast flux" networks allow malicious Web sites to be moved around quickly to make it harder, if not impossible, to locate and shut them down.

Phishing attacks against users of social networking sites will become more sophisticated, predicted MessageLabs, which is owned by Symantec. The goal of phishing attacks is to collect as much personal information as possible to allow the sending of highly targeted and sophisticated spam messages. Expect also to see an increase in attacks targeting smartphones, MessageLabs said. Attacks, delivered via free application downloads and games, surfaced this year and will become more malicious.

– Next year, expect a sharp increase in SQL injection attacks on Web sites and an increase in scareware products, which are designed to scare people into buying largely useless products, says Sophos. Expect also to see a continuation in the increase of malicious e-mail attachments and spam both of which saw huge spikes in volume this year, Sophos said.

– Online criminals looking to improve their odds of success will increasingly start using blended approaches that combine e-mail, Web-based attacks and system intrusions, says Cisco Systems. Botnets will become more versatile and criminals will use them to send spam, host malware or use them in direct attacks against specific targets. With an increase in remote workers and the related use of Web-based tools, mobile devices and virtualization technologies are also bound to cause more security worries for corporations, Cisco noted.

Distributed Denial of Service (DDoS) attacks will continue to grow in magnitude, said Arbor Networks. The largest bandwidth flood attacks this year generated peaks of about 40 gigabits of traffic. Next year, expect to see that number approach 100 gigabits, making it much harder for ISPs to rapidly mitigate such attacks, Arbor said.

– There will be an increase in attacks on SCADA systems, which control critical infrastructures such as electrical power transmission, VeriSign predicted. The global financial crisis and resulting institutional mergers, consolidations and collapses will provide "unprecedented opportunities" for cybercrooks to seek to exploit in 2009, the company warned.

– Among the newer threats in the collection of predictions for next year are those targeted against so-called rich Internet application and cloud computing environment according to Websense. As the popularity of RIA grows, there will be a growth in attacks that take advantage of vulnerabilities found with core RIA components and within user-created components to take remote control of end-user systems. Similarly, cloud computing environments will be increasingly used for sending spam or hosting malicious code, Websense noted.

Meanwhile IT managers themselves appeared to have a slightly different take on what the future holds on the security front.

A poll of 825 IT managers conducted by the Ponemon Institute think-tank, conducted on behalf of patch management vendor Lumension Security, showed about half saying that outsourcing was their biggest security concern.

Much of the concern appeared to be driven by the anticipation that companies will be increasing outsourcing of functions involving sensitive and confidential data to third parties, according to the study. Other threats mentioned by the group involved the threat from cybercriminals and security issues stemming from the growing use of mobile devices to store and access sensitive data.

Computerworld is an InfoWorld affiliate.



After brutal 2008 beating, stock funds face uncertain 2009
Shredded portfolio statements are being tossed with torn calendar pages as the book mercifully closes on the gruesome tale that was 2008. Investors had better hope that this past year was truly unprecedented because few of us can endure another like it.

Europe Markets: European shares move higher to start 2009

Europe Markets: European shares move higher to start 2009
European shares move higher Friday in the first trading session of 2009, helped by gains for the mining sector and a solid start to the year from most banking stocks.

Wells Fargo completes acquisition of Wachovia
Wells Fargo & Co. said Thursday it completed the acquisition of Wachovia Corp., creating a financial-services giant with $1.4 trillion in assets, a service network covering 48 million banking homes and a community-banking group spanning 39 states and the District of Columbia.

Forex Trading Psychology

Forex Trading Psychology
The key to successful Forex Trading unlike other financial markets, is knowing yourself…

Chuck Jaffe: How to make a solid financial plan for 2009
2008 had people talking to themselves, feeling like every move was wrong and there was some better course of action out there, some road untaken that would have made everything more comfortable.

Woes on Wall Street coincide with gold coin rush
DENVER — Investors who have forsaken shaky financial markets for the safety of gold must feel a little bit like prospectors.

Before the Bell: General Motors, Ford, Dow Chemical, bank earnings in focus

Before the Bell: General Motors, Ford, Dow Chemical, bank earnings in focus
U.S. stock market futures gain after General Motors Corp.’s financing arm said it would receive more cash from the government, while investors also awaited a reading of consumer confidence due after the market opens.

8 Ways to Boost Your Income
With credit drying up and the economy taking a dive, more Americans are leaning on their savings to make ends meet — even after slashing their spending — according to a survey by Country Financial. And the group that is relying the most heavily on its savings is young adults, with 58% of us…

AIG buys $16B of CDOs in risk reduction effort

AIG buys $16B of CDOs in risk reduction effort
NEW YORK — Insurer American International Group Inc. said Wednesday it purchased $16 billion of complex financial instruments in an effort to further reduce its exposure to insurance guarantees written against them.

I’m Penniless, but the Laugh’s on Them
Financial jokes are the new punch lines in town from late night television to satirical papers like The Onion.

Before the Bell: General Motors, Ford, Dow Chemical, bank earnings in focus
U.S. stock market futures gain after General Motors Corp.’s financing arm said it would receive more cash from the government, while investors also awaited a reading of consumer confidence due after the market opens.

When and How to Pay Off Mortgages

When and How to Pay Off Mortgages
The financial crisis has torpedoed the retirement planning of many seniors.

SEC Moves to Bring Transparency To Market for Credit-Default Swaps
The Securities and Exchange Commission took a step yesterday toward a new system of central clearinghouses for credit-default swaps, complex investments traded globally that have been partly blamed for the financial crisis.

AMD Helps Maximize "Trader Density" in Financial Institutions

AMD Helps Maximize "Trader Density" in Financial Institutions
AMD (NYSE: AMD) today announced it is improving the visual experience for financial traders while simultaneously helping to reduce power consumption needs for some of the world’s largest financial institutions. The new ATI FireMV™ 2260 2D workstation and desktop accelerator card enhances "trader density" in financial institutions, where IT managers seek to maximize productivity in every bit of workspace, overcrowded with people and hardware, while improving power consumption and cooling needs.

How high earners can grab a Roth IRA

How high earners can grab a Roth IRA
Paul Heck owns EveryHome, A successful real estate brokerage in suburban Philadelphia. The 53-year-old never considered making a Roth IRA part of his retirement plan. While Heck understands the substantial tax advantages of a Roth, he makes too much money to qualify. Recently, however, he got a tip from his financial planner about an upcoming change in the tax law that will allow Heck - and many other business owners - to seize a back-door opportunity to open a Roth.

Woes on Wall Street coincide with gold coin rush

Woes on Wall Street coincide with gold coin rush
DENVER — Investors who have forsaken shaky financial markets for the safety of gold must feel a little bit like prospectors.

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