Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Austal Limited    ASB   AU000000ASB3

AUSTAL LIMITED (ASB)
My previous session
Most popular
  Report  
End-of-day quote. End-of-day quote  - 01/18
2.07 AUD   --.--%
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector news

U.S., allies slam China for economic espionage, spies indicted

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/20/2018 | 06:32pm EST
FILE PHOTO: U.S. President Donald Trump and China's President Xi Jinping make joint statements at the Great Hall of the People in Beijing

WASHINGTON/LONDON (Reuters) - The United States and three allies chastised China for economic espionage on Thursday, ratcheting up tensions as U.S. prosecutors indicted two Chinese nationals linked to a spy agency on charges of stealing confidential data from American government agencies and businesses around the world.

Prosecutors charged Zhu Hua and Zhang Jianguo in hacking attacks against the U.S. Navy, the space agency NASA and the Energy Department and dozens of companies. The operation targeted intellectual property and corporate secrets to give Chinese companies an unfair competitive advantage, they said.

Britain, Australia and New Zealand joined the United States in slamming China over what they called a global campaign of cyber-enabled commercial intellectual property theft, signaling growing global coordination against the practice.

"No country poses a broader, more severe long-term threat to our nation's economy and cyber infrastructure than China," FBI Director Chris Wray said at a news conference. "China's goal, simply put, is to replace the U.S. as the world's leading superpower, and they're using illegal methods to get there."

Five sources familiar with the attacks told Reuters the hackers breached the networks of Hewlett Packard Enterprise Co and IBM, then used the access to hack into their clients' computers. IBM said it had no evidence that sensitive data had been compromised. HPE said it could not comment.

Secretary of State Mike Pompeo and other officials in President Donald Trump's administration said China's hacking effort, which U.S. officials said began in 2006 and ran through 2018, violated a 2015 agreement intended to crack down on cyber espionage for commercial purposes.

Britain agreed. The campaign is "one of the most serious, strategically significant, persistent and potentially damaging set of cyber intrusions against the UK and our allies that we have seen," a British security official said.

Victims included NASA's Goddard Space Center and Jet Propulsion Laboratory, the Energy Department's Lawrence Berkeley National Laboratory and companies involved in aviation, space and satellite technology, finance, electronics, healthcare, oil and gas exploration, according to court documents.

"The list of victim companies reads like a 'Who's Who' of the global economy," Wray said. He did not name the businesses.

Tensions between Washington and Beijing are high over tit-for-tat trade tariffs and after Meng Wanzhou, chief financial officer of Chinese telecommunications giant Huawei Technologies, was arrested in Canada at the request of the United States. Meng was arrested on the same day the United States and China agreed to talks to resolve the trade dispute.

CONSPIRACY CHARGES

Prosecutors charged the defendants, who they said worked with China's Ministry of State Security intelligence agency, with conspiracy to commit computer intrusions, conspiracy to commit wire fraud and aggravated identity theft.

Zhu and Zhang were members of a hacking group known within the cyber security community as APT 10 and also worked for a Tianjin company Huaying Haitai Science and Technology Development Co, prosecutors said.

NASA said it did not believe agency missions were jeopardized by the hacking and took immediate action to secure affected servers. China's embassy in Washington did not respond to a request for comment.

APT10 also stole personal data including Social Security numbers from more than 100,000 U.S. Navy personnel, they said.

A Navy spokesperson said that sailors are notified immediately when there is a data breach, but declined further comment due to an ongoing investigation.

The hacking targets also include technology firms that provide outsourced email, storage and other computing tasks, according to court documents.

This is the latest in a series of hacking cases brought by the United States against Chinese nationals.

In October, the U.S. government charged Chinese intelligence officers with stealing information on a turbo fan engine used in commercial jetliners. The same month, the Justice Department arrested an alleged spy for China's Ministry of State Security on charges of economic espionage and attempting to steal U.S. aviation trade secrets.

In September, a Chinese national who had enlisted in the U.S. Army Reserve was arrested in Chicago for allegedly working for Chinese intelligence to recruit engineers and scientists, including some who worked for U.S. defense contractors.

Australian officials issued a statement expressing "serious concern" about Chinese commercial intellectual property theft. An official in New Zealand said in a statement the country "joins likeminded partners in expressing that such cyber campaigns are unacceptable."

Canada, Japan, the Netherlands and Sweden also were expected to denounce Chinese cyber efforts, according to a source who spoke on condition of anonymity.

(Reporting by Diane Bartz, Lisa Lambert, David Shepardson, Susan Heavey in Washington and Jack Stubbs in London; Additional reporting by Jim Finkle; Writing by Alexandra Alper; Editing by Will Dunham and Sonya Hepinstall)

By Diane Bartz and Jack Stubbs

Stocks mentioned in the article
ChangeLast1st jan.
AUSTAL LIMITED 0.00% 2.07 End-of-day quote.6.43%
HEWLETT PACKARD ENTERPRISE 3.01% 14.705 Delayed Quote.8.02%
INTERNATIONAL BUSINESS MACHINES CORPORATION 1.64% 124.23 Delayed Quote.7.50%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AUSTAL LIMITED
01/14AUSTAL : Trinidad defends multi-million dollar agreement to purchase vessels fro..
AQ
01/12AUSTAL : TRINIDAD-POLITICS-Government defends multi-million dollar agreement to ..
AQ
2018AUSTAL : LCS Support Expansion
PU
2018U.S., allies slam China for economic espionage, spies indicted
RE
2018AUSTAL : Becoming a substantial holder from PDL
PU
2018AUSTAL : awarded contract for LCS 36 and 38
AQ
2018AUSTAL : export opportunity
PU
2018AUSTAL : awarded LCS 36 and 38
PU
2018AUSTAL : wins $72m ship building deal from Trinidad and Tobagos NIDCO
AQ
2018AUSTAL : US Navy awards EPF 14 long lead-time materials procurement contract
AQ
More news
Financials (AUD)
Sales 2019 1 501 M
EBIT 2019 75,2 M
Net income 2019 47,0 M
Debt 2019 22,0 M
Yield 2019 2,66%
P/E ratio 2019 15,33
P/E ratio 2020 13,44
EV / Sales 2019 0,50x
EV / Sales 2020 0,44x
Capitalization 729 M
Chart AUSTAL LIMITED
Duration : Period :
Austal Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AUSTAL LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 2,18  AUD
Spread / Average Target 5,1%
EPS Revisions
Managers
NameTitle
David Patrick Alexander Singleton Chief Executive Officer, Director & MD
John Rothwell Non-Executive Chairman
Greg Jason Group Chief Financial Officer
Charles Roland Giles Everist Independent Non-Executive Director
Sarah Adam-Gedge Independent Non-Executive Director