Morning Business Report: U.S. government agencies hit in global cyberattack
Several U.S. federal government agencies have been hit in a cyberattack by Russian cybercriminals. Clop, the ransomware gang allegedly responsible, is known to demand multimillion-dollar ransoms. The U.S. Cybersecurity and Infrastructure Security Agency says that, for a cyberattack like this one, Clop exploits a vulnerability in widely used software. No ransom demands have been made of federal agencies.
Senate Republicans have introduced a student loan reform package. It would create a universal financial aid offer form that would allow students to compare financial aid packages. It would also reform the college data reporting system, ensuring that students have information on job prospects and pay for certain majors.
The DOW rallied more than 400 points and the S&P 500 touched a fresh 13 month high. After the Central Bank skipped a hike this week, investors bet that the Federal Reserve was nearly done raising its rates.
U.S. stock markets will be closed Monday for Juneteenth.
Father’s Day is coming up on Sunday. In America, roughly 6 in 10 men are fathers and 93% of those fathers work. In recognition of Father’s Day, JUST Capital weighed in on which companies are leading the way in supporting working fathers. They say that Goldman Sachs Group, Bank of America Corporation, Intuit Inc, and Morgan Stanley stand out, with best-in-class support.
Help for parents can be hard to find in the workplace. Among the companies that disclose the length of their paid parental leave, only 26% offer 12 weeks or more to secondary caregivers, compared to 48% when it comes to primary caregiver leave.
On and off social media, many seniors feel they have important advice for younger generations. A whopping 63% of seniors use social media daily and 25% believe that their advice could go viral. A survey of 2,000 Americans 65 and older found that 41% think their insights are worthy of being written down and published as a book. The survey also asked what makes seniors happy. They found that 71% answered family, 49% said friends, and 26% just love some good weather. The survey was conducted by OnePoll on behalf of Comfort Keepers for the National Day of Joy.
