Live Updates: JBS Says Weekend Cyberattack Shut Some Operations - Barron's

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Employees prepare pieces of beef at a supermarket in Sao Paulo, Brazil, (Photo credit should read MAURICIO LIMA/AFP via Getty Images)

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Here’s what you need to know to navigate the markets today.

• An organized cybersecurity attack on JBS USA, one of the world’s largest meat processors, hit servers supporting its North American and Australian IT systems over the weekend. The attack shut down its operations across several Australian states on Monday, CNBC reported. JBS said it acted immediately, “suspending all affected systems, notifying authorities and activating the company’s global network of IT professionals and third-party experts to resolve the situation.” The company said it is working to restore its systems as soon as possible, but that “resolution of the incident will take time, which may delay certain transactions with customers and suppliers.” JBS USA is part of JBS Foods, which has operations in 15 countries and customers in about 100 countries, including beef, poultry and pork operations in the U.S., according to its website. Its brands include Pilgrim’s, Swift, Primo, and Certified Angus Beef. JBS said it was not aware that any of its customers, suppliers or employee data had been compromised or misused.

• The World Health Organization has renamed key coronavirus variants after letters of the Greek alphabet instead of the places they were first detected. The B.1.1.7 variant first identified in the U.K., for example, is now “Alpha” instead of the “U.K. variant,” and the B.1.351 variant discovered in South Africa is “Beta,” WHO announced Monday. “No country should be stigmatized for detecting and reporting variants,” Maria Van Kerkhove, WHO’s technical lead for Covid-19 response, tweeted Monday. The new labels were recommended by a WHO expert panel, which said they will be “easier and more practical” for non-scientific audiences, CNN reported. WHO said the scientific names, which will continue to be used in research, can be difficult to say and remember, and “as a result, people often resort to calling variants by the places where they are detected, which is stigmatizing and discriminatory.” WHO’s other two variants of concern, the P.1 variant first detected in Brazil, has been labeled “Gamma,” and the B.1.617.2 variant first identified in India is now “Delta.” Variants of interest have been labeled from  “Epsilon” to “Kappa.”

• Gas prices rose to a national average of $3.04 a gallon on Tuesday morning, the sixth straight week that prices have increased, according to GasBuddy. The national average is 16.8 cents higher than last month and $1.17 per gallon more than a year ago, and follows a 40.5% spike in demand over Memorial Day weekend, according to Patrick De Haan, head of petroleum analysis for GasBuddy. The most common gas price reported by motorists is $2.99 per gallon. The average price of diesel has risen to $3.18 per gallon nationally, up 1.2 cents from last week. “With the summer driving season now officially begun, gas prices have clung to a $3 per gallon average on continued strong demand as Americans take to the roads amidst a continued economic recovery,” De Haan said. “While oil production is now moving in the right direction, we’re in catch up mode to searing hot gasoline demand, and the imbalance has pushed prices up notably.”

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