financetom
Business
financetom
/
Business
/
Malaysia asks Microsoft, CrowdStrike to consider covering losses from global outage
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Malaysia asks Microsoft, CrowdStrike to consider covering losses from global outage
Jul 24, 2024 3:24 AM

KUALA LUMPUR (Reuters) - Malaysia's digital minister said on Wednesday he has asked global tech firms Microsoft ( MSFT ) and CrowdStrike ( CRWD ) to consider compensating companies that suffered losses during last week's global tech outage.

A faulty update to CrowdStrike's ( CRWD ) security software crashed computers powered by Microsoft's ( MSFT ) Windows operating system on Friday, disrupting internet services across the globe and affecting a broad range of industries.

Five government agencies and nine companies operating in aviation, banking and healthcare were among those affected in Malaysia, minister Gobind Singh Deo told reporters.

Gobind said he had met with representatives from Microsoft ( MSFT ) and CrowdStrike ( CRWD ) to seek a full report on the incident and ask the firms to take steps to avoid a repeat outage.

"If there are any damages or losses, where there have been any parties that have made such claims, I've asked them to consider those claims and see to what extent they are able to help resolve the issue," Gobind said, adding that the government would also assist on the claims where possible.

The total amount of losses incurred has not yet been determined, he said.

On Tuesday, the chief executive of Malaysia's Capital A, the operator of budget carrier AirAsia, said airlines affected by the IT outage deserved compensation for losses, media reported.

"The principle is that if we do something wrong, we have to compensate. We, other airlines, and other businesses lost a lot.

"They should offer us compensation, and right now, we have to wait and see," Tony Fernandes was quoted as saying by state news agency Bernama.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
India's Hindalco beats Q2 profit view on higher aluminium prices
India's Hindalco beats Q2 profit view on higher aluminium prices
Nov 11, 2024
Nov 11 (Reuters) - India's Hindalco Industries , one of the country's largest aluminium and copper producers, posted a higher-than-expected second-quarter profit on Monday, helped by higher aluminium prices. The company, owned by the Aditya Birla Group, said its consolidated net profit jumped 78% to 39.09 billion rupees ($463.3 million) for the three months ended Sept. 30, beating estimates. Analysts,...
Italy's Intesa partners with BlackRock in private banking in Benelux
Italy's Intesa partners with BlackRock in private banking in Benelux
Nov 11, 2024
MILAN (Reuters) - Italy's largest bank Intesa Sanpaolo said it would partner with BlackRock ( BLK ), the world's biggest asset manager and a leading Intesa shareholder, to offer digital wealth management services to clients in Belgium and Luxembourg. By teaming up with BlackRock ( BLK ), Intesa Sanpaolo's private banking unit Fideuram will broaden its digital offering of investments...
Trump Media (DJT) Stock Surges On Monday Pre-Market As Trump Denies Sale Rumors
Trump Media (DJT) Stock Surges On Monday Pre-Market As Trump Denies Sale Rumors
Nov 11, 2024
Trump Media & Technology Group Corp ( DJT ) experienced a 9.37% increase in pre-market trading on Monday, according to Benzinga Pro. This follows president-elect Donald Trump‘s announcement on Friday that he has no plans to sell his stake in the company. The statement comes amidst renewed investor interest following the election. What Happened: Trump has urged investigations into alleged...
EHang, Enpower Team Up On Next-Gen eVTOL Tech: Details
EHang, Enpower Team Up On Next-Gen eVTOL Tech: Details
Nov 11, 2024
EHang Holdings Limited ( EH ) shares are trading higher premarket on Monday. The company disclosed a long-term strategic partnership with Zhuhai Enpower Electric Co., Ltd. The collaboration will focus on co-developing high-performance electric motors and motor controllers for EHang’s electric vertical take-off and landing (eVTOL) aircraft. The collaboration aims to develop customized electric motor drive systems tailored to the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved