Tomorrow's Business Today
The worst sort of hack
Is the PR risk from being cyber attacked getting greater or smaller?
It seems that risks of being attacked are plainly higher, which in turn means victims get a sort-of pass – it could happen to any of us and any company, big or small.
The biggest attacks so far have been on NASA (that’s scary), Playstation (hmph) and various payment systems (obviously).
Retailers are plainly attractive targets since they hold so much data about so many of us.
Today JD Sports is the latest to fall foul of the hackers and handled it as well as it could.
The hacks are historic, which is good, though that does raise the issue of why they are only telling us now.
It is tempting to think that some businesses must be more at risk than others, just on our own experience of dealing with them.
Does sloppy customer service suggest lax computer controls? That seems a fair assumption for a consumer to make.
Will we pay more for groceries if we think what we are partly paying for is safer data storage? I think we will.
It is hard perhaps for companies to signal that they are data secure. Saying so looks like a temptation to fate on par with an airline bragging it has never had a crash.
This is more than just a PR issue of course. JD may well be fined for this, which in turn is another PR blow.
This is also one of those PR issues where we hope the money is being spent before disaster occurs rather than after it.
And perhaps we should all take a different view of the fuddy-duddy old guy who insists on paying in cash at Waitrose and is slowing us all down.
Maybe he’s not old fashioned at all. Maybe he works in cyber security.
Press release of the day
Which are the best cities to buy a one-bed property to rent out?
Coventry is number one, says this from Bonusetu.com.
Other unfashionably places such as Derby, Bradford and Southend-on-Sea also get a mention.
The study looked at places which would give a quick return.
Stories that will keep rolling
1) Which parts of the eurozone seem inevitably heading for recession?
2) Is German inflation still falling? Will ours do the same?
3) What are the chances of a house price crash according to Nationwide?
4) Is Pets at Home seeing customers trading down?