Palo Alto Networks Uncovers New Source of Cyberthreats Targeting Businesses

SANTA CLARA, Calif., July 22, 2014 /PRNewswire/ — Palo Alto Networks® (NYSE: PANW), the leader in enterprise security, today revealed that cyber criminals in Nigeria have evolved common malware campaigns to infiltrate businesses that have not previously been their primary targets.

Logo – http://photos.prnewswire.com/prnh/20130508/SF04701LOGO

419 Evolution, a new report released today from Unit 42, the Palo Alto Networks threat intelligence team, explains how Nigeria-based scammers are now using the same tools more sophisticated criminal and espionage groups often deploy to steal business-critical data from enterprises.

Nigerian criminals are infamous for running easily-spotted “419” phishing scams that attempt to collect credit card details or personal information from individuals, but over the past few years have expanded their skills to target businesses using more advanced techniques. Palo Alto Networks researchers discovered these activities and techniques, code-named Silver Spaniel, using WildFire, which rapidly analyzes cyberthreats in a cloud-based, virtual sandbox environment.

Key research takeaways:

  • Among other techniques, Nigerian criminals use Remote Administration Tools (RATs) available through underground forums, including commercial RATs such as NetWire, that provide complete control over infected systems
  • Attacks similar to Silver Spaniel in the past may have come from Eastern Europe or a hostile espionage group; businesses haven’t traditionally dedicated resources to these potentially impactful spammers from Nigeria
  • Traditional Antivirus programs and legacy firewalls are ineffective because Silver Spaniel attacks are specifically designed to evade those technologies

Quote:

  • “These Silver Spaniel malware activities originate in Nigeria and employ tactics, techniques and procedures similar to one another. The actors don’t show a high level of technical acumen, but represent a growing threat to businesses that have not previously been their primary targets.” — Ryan Olson, Unit 42 Intelligence Director, Palo Alto Networks

Palo Alto Networks Launches A New Era In Threat Intelligence

Unit 42, the Palo Alto Networks threat intelligence team, is made up of accomplished cybersecurity researchers and industry experts. Unit 42 gathers, researches and analyzes up-to-the-minute threat intelligence, sharing insights with Palo Alto Networks customers, partners and the broader community to better protect organizations.

Unit 42 focuses on the technical aspects of attacks, as well as the context in which they are launched, helping all members of the business community, from CEOs to security practitioners, better understand who is executing attacks and why.

To learn more:

ABOUT PALO ALTO NETWORKS

Palo Alto Networks is leading a new era in cybersecurity by protecting thousands of enterprise, government, and service provider networks from cyber threats. Unlike fragmented legacy products, our security platform safely enables business operations and delivers protection based on what matters most in today’s dynamic computing environments: applications, users, and content. Find out more at www.paloaltonetworks.com.

Palo Alto Networks and the Palo Alto Networks Logo are trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names or service marks used or mentioned herein belong to their respective owners.

LED Fixtures Light Up the Chemical Materials Market Bringing New Manufacturing Opportunities

MOUNTAIN VIEW, Calif., July 22, 2014 /PRNewswire/ — Light emitting diodes (LEDs) are rapidly taking the place of older, less durable and energy-efficient lighting technologies around the world. As chemicals and materials are needed at all stages of the LED fixture’s manufacturing process, chemical companies will play a critical role in the future success of the LED industry. The breadth of material requirements means that few market participants have visibility across the entire market, creating the need for a holistic vision of market potential.

New analysis from Frost & Sullivan, Analysis of the Global LED Materials Market, finds that revenue growth in chemicals demand is expected to be ahead of growth in the LED industry itself. The LED materials market, which earned revenue of $5.01 billion in 2013, will reach revenues of $11.71 billion in 2018. The study includes applications for chemicals through the four stages of the LED manufacturing value chain: chip fabrication, packaging, module construction, and fixture assembly.

For complimentary access to more information on this research, please visit: http://bit.ly/1nMZz69.

Historically, demand for LEDs in electronics applications such as display backlighting has driven growth in chemicals demand for LED applications. However, this market is now relatively mature, and demand from the general lighting sector will dominate future growth. Of the four value chain tiers involved in manufacturing LEDs, the greatest need for chemicals will emerge from the final stage, assembling the fixture.

“While prices of LEDs are falling at all stages of the value chain, price pressure is particularly strong in the packaging stage,” noted Frost & Sullivan Performance Materials Industry Principal Brian Balmer. “As a result, chemical companies that offer innovative products enabling cost savings for LED manufacturers will be well-positioned to succeed.”

Further, market participants must leverage design opportunities offered by the LED space. Unlike traditional luminaires, LED light sources need not be designed around a replaceable bulb. The possibilities for innovative designs and material options will give rise to opportunities that did not exist with previous lighting technologies.

“Chemical companies, therefore, need to partner with fixture manufacturers to help them understand how chemicals and materials can be used to design the LED fixtures of the future,” said Balmer.

Analysis of the Global LED Materials Market is part of the Chemicals & Materials (http://www.chemicals.frost.com) Growth Partnership Service program and highlights opportunities for chemical companies in the LED industry. Frost & Sullivan’s related studies include research in the LED end-markets, including World LED Lighting Markets (Dec 2013), which covers general lighting applications, and Global LED Display and Lighting Market (Feb 2013), which covers electronic backlighting and automotive applications. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

Analysis of the Global LED Materials Market
NCFD-39

Contact:
Ariel Brown
Corporate Communications – North America
P: +1-210-247-2481
F: +1-210-348-1003
E: ariel.brown@frost.com

Employment: Commission proposes €700,000 from Globalisation Fund to help redundant workers in the carpentry sector in Spain

European Commission

Press release

Brussels, 22 July 2014

Employment: Commission proposes €700,000 from Globalisation Fund to help redundant workers in the carpentry sector in Spain

The European Commission has proposed to provide Spain with €700,000 from the European Globalisation Adjustment Fund (EGF) to help 400 workers made redundant in the carpentry and joinery sector in the Castilla y León region to find new jobs. The proposal now goes to the European Parliament and the EU’s Council of Ministers for approval.

EU Commissioner for Employment, Social Affairs and Inclusion László Andor commented: “The Spanish society and economy have been hard hit by the financial crisis and the employment situation in the region of Castilla y León is a matter of great concern, but I am convinced that the proposed support from Europe’s Globalisation Adjustment Fund would help the workers who lost their jobs to find new opportunities in the same or other sectors”.

Spain applied for support from the EGF following the dismissal of 587 workers in three businesses operating in the joinery and carpentry sector in the region of Castilla y León. The workers primarily make doors and window frames used in the construction of buildings. These dismissals were the result of the shrinking market for wooden doors and window frames worldwide and the decline in the volume of exports of these goods from Spain during the past years.

The measures co-financed by the EGF would help the 400 workers facing the greatest difficulties in finding new jobs by providing them with intensive job-search assistance, counselling and guidance, general training and re-training, vocational training, promotion of entrepreneurship and a variety of allowances and incentives.

The total estimated cost of the package is €1.4 million, of which the EGF would provide half.

Background

The market for joinery and carpentry products for the building sector is shrinking globally and the volume of worldwide exports of this commodity decreased by 3.4% from 14.2 billion US dollars in 2008 to 13.7 billion US dollars in 2011. Between 2008 and 2011 the volume of EU-27 exports of these products decreased by 10.33 % and its market share dropped from 17.24% to 16%.

During the same period the Philippines almost doubled its market share (which rose from 6.31% to 12.13%) and other Far Eastern countries also increased their share although to a lesser extent – China for instance increased its market share by 15% and Malaysia by 37%.

This decline in the EU-27 market share led to the closure of a number of enterprises operating in the sector, with negative consequences for employment. As noted in the staff working document accompanying the Commission’s communication on A new EU forest strategy for forest and the forest based sector, the number of enterprises in the manufacture of wooden and timber products decreased by 8% between 2003 and 2010, while employment in the sector decreased by 20% in the period 2000-2011.

Employment in Castilla y León has been severely affected by the crisis. The unemployment rate in the region increased rapidly from 8.2% in the first quarter of 2008 to 22.70% in the same quarter of 2013. The redundancies in the manufacture of wood and timber products will further magnify the unemployment situation, since the affected territory, Pinares (literally ‘pine groves’), is highly dependent on the wood sector and the pine trees constitute the main economic resource, which has resulted in an industrial area of primary and secondary processing of wood.

The region already received EGF support for another mass redundancy case in the automotive industry (IP/09/233).

More open trade with the rest of the world leads to overall benefits for growth and employment, but it can also cost some jobs, particularly in vulnerable sectors and affecting lower-skilled workers. This is why Commission President Barroso first proposed setting up a fund to help those adjusting to the consequences of globalisation. Since the start of its operations in 2007, the EGF has received 125 applications. Some €518 million has been requested to help more than 112,000 workers. EGF applications are being presented to help workers in a growing number of sectors, and by an increasing number of Member States. In 2013 alone, it provided more than €53.5 million in support.

In June 2009, the EGF rules were revised to strengthen the role of the EGF as an early intervention instrument forming part of Europe’s response to the financial and economic crisis. The revised EGF Regulation entered into force on 2 July 2009 and the crisis criterion applied to all applications received from 1 May 2009 to 30 December 2011.

Building on this experience and the value added by the EGF for the assisted workers and affected regions, the Fund continues during the 2014-2020 period as an expression of EU solidarity, with further improvements to its functioning. Its scope has been expanded to include again workers made redundant because of the economic crisis, as well as fixed-term workers, the self-employed, and, by way of derogation until the end of 2017, young people not in employment, education or training in regions of high youth unemployment.

Further information

EGF website

Video News Releases:

Europe acts to fight the crisis: the European Globalisation Fund revitalised

Facing up to a globalised world – The European Globalisation Fund

Subscribe to the European Commission’s free e-mail newsletter on employment, social affairs and inclusion

László Andor’s website

Follow @László AndorEU on Twitter