Biden sets up emergency taskforce to tackle Microsoft hack – live updates

US President Joe Biden is setting up an emergency taskforce to investigate a widespread cyberattack carried out by Chinese hackers that broke into as many as 250,000 organisations around the world.

Multiple US government agencies including the FBI are due to form a Unified Coordination Group as security services attempt to uncover the extent of the breach of Microsoft’s Exchange email service.

There are fears that the hackers, allegedly linked to the Chinese state, could have hidden inside computer systems for months to steal information. The European Banking Authority has said it was hacked as part of the campaign but denied that any personal information was stolen. The White House has called the hack an “active threat.”

Coming up later today: 3pm: US Senate Committee on Banking, Housing, and Urban Affairs to hold hearing on the GameStop share price rise

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7:28AM

White House probes Microsoft Exchange hack that could have affected 250,000 organisations 

The potential scale of the hack of Microsoft Exchange, email server software used by hundreds of thousands of organisations around the world, has prompted a wide-ranging investigation by the US government.

Multiple agencies including the FBI are setting up an emergency taskforce to look into the incident which has been blamed on a hacking group that has close links to the Chinese state.

Concerns about a security flaw in Microsoft Exchange began to surface in January but it’s unclear exactly how long the hack may have gone on for.

So far, the impact of the hack on the UK and Europe is seemingly limited. The European Banking Authority has said its email system was hacked but added that it had seen no evidence of stolen data.

The National Cyber Security Centre, a division of GCHQ, is understood to be investigating the UK impact of the incident.

7:25AM

Five things to start your day  

1) Deliveroo reports heavy losses of £224m despite lockdown growth

It comes as the Amazon-backed food delivery app confirms plans for its £8bn London stock market listing.

2) GameStop shares soar 45pc as firm readies push into e-commerce    

The beleaguered gaming chain has hired Ryan Cohen, the founder of pet food site Chewy.com, to lead a new committee that will be tasked with hiring a host of executives to lead its customer care and online retail operations.

3) European Banking Authority hit by  global Microsoft hack 

The EBA banking regulator has launched an investigation into a hack carried out by a hacking group linked to China.

4) Calls for new intelligence sharing body to tackle online piracy 

Illegal streams of TV shows were worth €1bn in Europe alone.

5) Tesla building ‘secretive’ mega-battery in Texas 

Energy storage efforts in a small US town are a reminder that Elon Musk’s ambitions stretch far beyond cars.

Coming up later today:

3pm: US Senate Committee on Banking, Housing, and Urban Affairs to hold hearing on the GameStop share price rise

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