Reuters - U.S. government probes medical devices for possibl

Security is one of the big concern, as the number of private datas available "on line" and the evolution of new solutions (payments, health...etc...) Security is a more critic subject for all these clouds/on line companys....we should see the security sector continue to OP and we should see some M&A very quickly...

U.S. government probes medical devices for possible cyber flaws

BOSTON (Reuters) - The U.S. Department of Homeland Security is investigating about two dozen cases of suspected cybersecurity flaws in medical devices and hospital equipment that officials fear could be exploited by hackers, a senior official at the agency told Reuters.

The products under review by the agency's Industrial Control Systems Cyber Emergency Response Team, or ICS-CERT, include an infusion pump from Hospira Inc and implantable heart devices from Medtronic Inc and St Jude Medical Inc, according to other people familiar with the cases, who asked not to be identified because the probes are confidential.

These people said they do not know of any instances of hackers attacking patients through these devices, so the cyber threat should not be overstated. Still, the agency is concerned that malicious actors may try to gain control of the devices remotely and create problems, such as instructing an infusion pump to overdose a patient with drugs, or forcing a heart implant to deliver a deadly jolt of electricity, the sources said.

The senior DHS official said the agency is working with manufacturers to identify and repair software coding bugs and other vulnerabilities that hackers can potentially use to expose confidential data or attack hospital equipment. He declined to name the companies.

"These are the things that shows like 'Homeland' are built from," said the official, referring to the U.S. television spy drama in which the fictional vice president of the United States is killed by a cyber attack on his pacemaker.

"It isn't out of the realm of the possible to cause severe injury or death," said the official, who did not want to be identified due to the sensitive nature of his work.

Hospira, Medtronic and St Jude Medical declined to comment on the DHS investigations. All three companies said they take cybersecurity seriously and have made changes to improve product safety, but declined to give details.

CONNECTED DEVICES

ICS-CERT's mandate is to help protect critical U.S. infrastructure from cyber threats, whether they are introduced through human error, virus infections, or through attacks by criminals or extremists.

According to the senior DHS official, the agency started examining healthcare equipment about two years ago, when cybersecurity researchers were becoming more interested in medical devices that increasingly contained computer chips, software, wireless technology and Internet connectivity, making them more susceptible to hacking.

The U.S. Food and Drug Administration, which regulates the sale of medical devices, recently released guidelines for manufacturers and healthcare providers to better secure medical devices and is holding its first public conference on the topic this week.

"The conventional wisdom in the past was that products only had to be protected from unintentional threats. Now they also have to be protected from intentional threats too," said William Maisel, chief scientist at the FDA's Center for Devices and Radiological Health. He declined to comment on the DHS reviews.

The senior DHS official said the two dozen cases currently under investigation cover a wide range of equipment, including medical imaging equipment and hospital networking systems. A DHS review does not imply the government thinks a company has done anything wrong - it means the agency is looking into a suspected vulnerability to try to help rectify it.

One of the cases involves an alleged vulnerability in a type of infusion pump, a piece of hospital equipment that delivers medication directly into a patient's bloodstream. Private cybersecurity researcher Billy Rios said he discovered the alleged bug but declined to identify the manufacturer of the pump. Two people familiar with his research said the manufacturer was Hospira.

    Rios said he wrote a program that could remotely force multiple pumps to dose patients with potentially lethal amounts of drugs. He submitted his analysis to the DHS.

    "This is a issue that is going to be extremely difficult to patch," said Rios, a former Marine platoon commander who has worked for several Silicon Valley technology firms and recently founded security startup Laconicly.

    Reuters was not able to independently review his research or identify the type of pump Rios studied from Hospira's line, which includes multiple models.

Hospira spokeswoman Tareta Adams, while declining to comment on specifics, said the company is working to improve the security of its products.

"Hospira has implemented software adjustments, distributed customer communications and made a commitment to evaluate other changes going forward, while ensuring we are not adversely impacting the ability of our devices to meet hospital and patient needs, and maintain compliance with FDA product requirements," Adams said in the statement.

MORE AWARENESS

Hospital security officers say there is increasing awareness about cyber threats, and medical centers around the country have been shoring up networks to better defend against hackers.

At the University of Texas MD Anderson Cancer Center, all medical devices will soon need to be tested to make sure they meet security standards before they can be put on the hospital's network, according to Lessley Stoltenberg, the center's chief information security officer.

"I'm pretty concerned," said Stoltenberg. "Coming out of the block, medical devices don't really have security built into them."

The DHS is also reviewing suspected vulnerabilities in implantable heart devices from Medtronic and St Jude Medical, according to two people familiar with the matter.

They said the probe was based in part on research by Barnaby Jack, a well-known hacker who died in July 2013. Jack had said he could hack into wireless communications systems that link implanted pacemakers and defibrillators with bedside monitors.

Medtronic spokeswoman Marie Yarroll said in an email that the company has "made changes to enhance the security" of its implantable cardiac devices, but declined to give specifics "in the interest of patient safety."

St. Jude Medical spokeswoman Candace Steele Flippin also declined to discuss specific products but said the company has "an ongoing program to perform extensive security testing on our medical devices and networked equipment. If a risk is identified, we will issue patches for any known issues."

CHENEY'S DEFIBRILLATOR

Experts said it is important that security vulnerabilities in medical devices are exposed so manufacturers can fix them, but many said there was no need for patients to panic.

"It's very easy to sort of sensationalize these problems," said Kevin Fu, who runs the Archimedes Research Center for Medical Device Security at the University of Michigan.

Still, worries about cybersecurity have made some individuals wary of medical devices with wireless and Internet connections.

In 2007, then-U.S. Vice President Dick Cheney ordered some of the wireless features to be disabled on his defibrillator due to security concerns. When asked if he would recommend other patients do the same, Cheney said not necessarily.

"You've got to look at all eventualities and do whatever you have to safeguard the capabilities of the individual," Cheney told Reuters on Tuesday. "In terms of how it would affect others, I think the president and vice president are in relatively unique circumstances."

Cyber researcher Jay Radcliffe used to be among the hundreds of thousands of diabetics relying on computerized insulin pumps. He said he stopped using his Medtronic pump after he found that he could hack into its wireless communications system and potentially dump fatal doses of insulin into his body.

"I don't feel safe wearing these devices," said Radcliffe, who works for Rapid7, a security software maker. "It's better for me to stick myself with a needle."

Medtronic said it has made security improvements to its insulin pumps, though the company declined to give specifics.

George Grunberger, who has led the insulin pump management task force of the American Association of Clinical Endocrynologists, said he believes the benefits of pumps far outweigh any cyber risks, so he would not advise patients to follow Radcliffe's example.

(BFW) Fosun Group’s Zhong Says Club Med Is ‘Iconic Brand’ in France


Fosun Group’s Zhong Says Club Med Is ‘Iconic Brand’ in France
2014-10-22 07:49:52.187 GMT


By Simone Meier
Oct. 22 (Bloomberg) -- Patrick Zhong, senior managing
director at Fosun Group, says the company will help France’s
Club Med build resorts in China, in an interview on Bloomberg
Television.
* Says Club Med becoming “household name” in China
* NOTE: Club Med Employees Reject New Fosun Offer: Le Monde
NSN ND2PQV6K50XX<GO>

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(BofA-ML) Oil Most/Least Preferred

* Most Preferred List
Afren: Stake building by SA Petroleum offers valuation support
BG: Board awaiting strategic options
Wood Group: Lower risk business model fuels cash generation, 30% upside potential to our PO

* Least Preferred List
Lundin: Long dated capex plans weigh on potential shareholder returns
Neste: Trades at a 20% premium to history post recent rally
Saipem: Despite better order intake, margins remain unknown & Algeria still an overhang

* Stocks Added and Removed
Added: MPL-Afren, Wood Group LPL- Neste
Removed: MPL- Dragon Oil, Eni LPL- Galp

(BFW) Roche May Have as Much as $60b for ‘Inorganic Growth:’ Goldman


Roche May Have as Much as $60b for ‘Inorganic Growth:’ Goldman
2014-10-22 07:28:20.348 GMT


By Chiara Remondini
Oct. 22 (Bloomberg) -- Goldman Sachs estimates Roche will
generate ~$100b in cash through 2018, says may have $30b-$60b of
incremental cash (post capex, div.) for “inorganic growth,”
according to note dated yday.
* Says consensus estimates see ~$15b/$44b in cumulative capex,
div. payments over period, leaving ~$32b in unused cash by
end-2018 (post InterMune deal)
* Consensus doesn’t reflect potential to increase div. payout
or source inorganic growth, which may add ~300-400bps to
top-line/EPS CAGR over considered period; notes co.’s
balance sheet policy which aims for net debt to asset ratio
of 0%-15%
* Estimates div. may increase at ~13% CAGR in 2013-2018 vs
consensus of 8%
* Reiterates conviction buy


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To contact the editors responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
Gaurav Panchal

(BFW) Francois Pinault Starting New Kering Eyewear Co.: Messaggero

--> -ve for Safilo & Luxottica


Francois Pinault Starting New Kering Eyewear Co.: Messaggero
2014-10-22 06:58:23.230 GMT


By Daniele Lepido
Oct. 22 (Bloomberg) -- French businessman launching co.
based in Italian city of Padua, Il Messaggero reports.
* Pinault’s son Francois-Henri appointed to board: Messaggero
* Former Safilo executive Roberto Vedovotto will be CEO,
chairman: Messaggero
* Co. aims to top EU400m rev. “in few years:” Messaggero
* NOTE: Pinault Family Buys Napa Araujo Estate Wines to Add to
Latour NSN MQN0KD6K50XU<GO>

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>>> Nutreco shareholder NN also calls SHV bid too low, SHV keeps buying

Nutreco shareholder NN also calls SHV bid too low, SHV keeps buying 

NN Groep (Nationale Nederlanden), the Dutch insurer, has also turned against investor SHV's bid for animal feed producer Nutreco, the Dutch daily De Financieele Telegraaf reported. Yesterday, pension fund APG, which holds almost 10% of shares, said it felt the bid was too low.

SHV has offered EUR 40 per share, a premium of 42% in terms of the share price last Friday. But NN sees more long term value. NN Groep has been a shareholder in Nutreco from the start and isn't impressed by the SHV bid, the report said. The bid doesn't adequately reflect the excellent long term prospects and the potential to improve margins, NN told the paper. The group owns 7,5% of Nutreco's capital and has been a shareholder since Nutreco went public in 1997. At the time NN was still a part of ING Groep, and bought the shares for 37 guilders.

SHV wants to take Nutreco off the stock exchange, and needs 95% of the shares to be able to do so. The investment firm expanded its stake to 11% on Tuesday, another report in de Financeele Telegraaf said.


Source De Financieele Telegraaf

>>> What to look at today - 22nd of October 2014

US Market closed much higher, S&P psoting its fourth consecutive gain, AAPL jumped 2.7%, volume were in line with average @ 795mil shares...VIX @ 16.08 -13.41%...The yields on the US 10-yr note is back above 2.20% - a 1-week high - as diminishing concerns over Ebola/Hong Kong/Europe have eased investors worries. Nikkei225 is leading the rally on the heels of further modest selling in JPY, with USD/JPY retesting the ¥107 handle. Japan merchandise trade deficit was much wider than expected mainly due to higher than anticipated rise in imports (6.2% v 2.7%e). Govt panel discussion saw economic advisor Honda recommend that another sales tax hike is postponed until 2017 vs late 2015 initially planned. Separately, a govt official noted some further stimulus measures will still be considered regardless of the decision on the next round consumption tax. China Vice Premier Zhang noted the country continues to attract foreign investment, and that YTD economic growth is still in reasonable range after yesterday's release of slightly better than expected GDP number. In Hong Kong, the student protest leader said marches will continue and that it was uncertain if more meetings with the govt will take place. Overnight, Chief Secretary Carrie Lam reiterated 2017 chief election will be based on National People's Congress (NPC) ruling following meeting with student leaders. Nikkei +2.46% Hang Seng +1.23% Shanghai -0.31%

Eur$ 1.2739 S&P -0.10% Eurostoxx +0.43% FTSE +0.37% Dax +0.61% SMI +0.47%

Macro
- French Livret A Savings Account Sept Outflow EU2.37B: Les Echos

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