GENEVA — U.S. companies are increasingly vulnerable to hacking and other cyber attacks, a senior U.S. official said Thursday and warned a system-wide attack could cause global markets to plunge and trigger widespread chaos.
“It’s one of the biggest headaches for executives, and it’s only going to grow. One of our declassified intelligence estimates put the price tag at the loss to American businesses alone last year at $115 billion,” said Alec Ross, senior adviser for innovation to the U.S. Secretary of State. “This does not even count the forward investments they need to make to harden their IT infrastructure.” This is one of the “new cost centers for business,” Ross said and added, “and what’s worse, if you are a chief executive, one of the problems is you are investing, and you are often doing so with no guarantees.”
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)