of johannesburg. panic over the security of computers and mobile devices the discovery of a major florida chips has experts trying to find a fix. could be it what. disasters costs for the global insurance industry the financial pain inflicted by natural disasters almost doubled in twenty seventeen. i'm headed in but end thanks for joining me oh a scramble is on to find a fix for serious flaws in computer chips around the walls the weakness could affect billions of computers in small phones security research has discovered the problem with computer processes built by intel and of the chip makers some time ago but the news has only just surfaced here's what we know so far the intel security

flow could allow hackers to obtain access to passwords encryption keys and other sensitive data the newly announced vulnerability could affect every processor released since one nine hundred ninety five at the moment there's no way for users to detect a breach which leaves no trace in traditional log files some security experts are calling it the worst flaw ever found by the computer industry is probably more the problem with the security gaps is that the processor is the core of the computer it's what the operating system runs on and that means when the processor is affected and the hacker takes advantage of that flow they have access to everything . desktops notebooks tablets smartphones running on intel chips are affected the problem may be even bigger than initially reported in a statement intel said recent reports that these exploits are caused by a bug or a flow and are unique to intel products are incorrect based on the analysis to

date's many types of computing devices with many different vendors processors and operating systems are susceptible to these exploits. researchers who discovered the security gaps a computer is powered by a r m n m d also affected a claim that a.m.d. has denied software updates will be released to help protect against security gaps these could cause computers to run more slowly with some estimates indicating a dip of up to thirty percent but intel says that ordinary user is likely to see a performance hit of no more than two percent. let alone he we spoke to two recently from a tech magazine motherboard dortch on the floor she told us it seems that the c.e.o. of intel will likely have some explaining to do well in tow and a couple of other tech companies have been secretly working to patch this thing but something very interesting just came out now which is the intel c.e.o.

has sold his shares in november a seventeen or so as many shows as he could then came out today saying this is all perfectly normal while knowing about the security flaw for months and months so let's bring in our financial correspondent yan's quarter who's on wall street following this story for us jens the c.e.o. of intel end up facing charges of trading on insider knowledge. the timing certainly is a bit odd if you consider that the c o's sold his share after the company got aware of the floor spot before the news actually trickled down to the public and the f.c.c. probably will have a look at this issue but personally i cannot really imagine that it's a case of insider trading because that would really be too obvious it would be the most obvious case of insider trading ever let's talk about the company then because

these chips just everywhere what does this mean for intel well first of all for the second consecutive day the stock of intel was the biggest loser in the dow jones industrial average at a couple of scenarios are possible for example there could be charges there could be higher costs of for upgrades and then also intel could lose some market share to the competitors even if that might be not as easy as in the past if we think back to maybe ten fifteen twenty years ago when it was the big battle for example between advanced micro devices and intel for computer chips those could be replaced rather easily but today's semiconductors are highly customized so it won't be that easy for the competition to take market share away from intel and let's just mention the dow because it's very clear when the five thousand point what's

been driving that. it's really breathtaking it just took twenty three trading days for the dollar of fraud to go from twenty four to twenty five thousand points the fastest pace that we've seen in the history of a crossing such a thousand point mark the reasons are all the same there is the tax reform meaning there is a look for lower taxes for corporations and higher profits for corporate america then there is grows not just in the u.s. but also worldwide and what we shouldn't forget is that central banks around the globe are real still rather hesitant to really start increasing interest rates heavily so the cheap money is one of the main drivers for this rally and not necessarily so much of the policies of the current u.s. administration. thanks a lot now the united states does not take circumventing

sanctions lightly as a top turkish bag as recently discovered a u.s. court has found them at a ten at the former deputy c.e.o. of turkish state owned bank hoke bank guilty of helping iran known to billions of dollars to evade u.s. sanctions. the former deputy c.e.o. of turkish bank house bank mehmet attila faces several years in prison he was found guilty of helping iranians circumvent u.s. sanctions involving oil deals worth billions the ruling was partly based on the testimony of a witness. allegedly turkish president. had only one signed off on the bank is illegal business will no surprise the turkish government has criticised the ruling saying in no uncertain terms that it's politically motivated it's a scandalous ruling and a scandalous process there's no other way of seeing it it was clear from the start that the court case was only there to get mixed up in turkey's internal affairs.

the court ruling could have far reaching consequences for the turkish economy other banks in the country are also suspected of doing business with iran's oil sector that means they could find themselves cut off from the u.s. financial markets something that would hurt any major bank. there is the cost there is a day in history for the insurance industry trains from natural disasters in twenty seventeen are expected to cost insurers one hundred thirty five billion u.s. dollars that's almost double the previous year less than half of last year's losses were actually insured so the damage is all total losses were way high and. there were fires and floods and an earthquake in mexico but the hurricanes were the gut punch at least for insurers harvey irma and maria three hurricanes to hit the atlantic coast of the americas last year combined for a quarter of a trillion dollars in insured and uninsured losses three insurance giant munich re

says last year's storms are resulting in the highest insurance payout in the history of the three hurricanes it was harvey that caused the most the massive floods that in a date at the city of houston accounted for much of its eighty five billion dollars damage toll the devastating wildfires in california resulted in high claims because so many of the suburban houses destroyed were insured to the hilt yet the majority of losses from global disasters last year weren't insured in asia pacific for example fewer than one out of ten losses were covered. and those figures don't include lost lives more than twenty seven hundred people died in floods in south asia but the disaster was less destructive to infrastructure in the us hurricanes. climate change is being blamed for the increasing number of severe storms first up this year the massive snowstorm currently blanketing the us northeast then another

active hurricane season is on the horizon insurers are gearing themselves up for more massive payouts. if you have a taste of platinum joe great as a fifty fifty chance it came out of the ground in south africa countries the global market leader in the production also the precious metal prices of for them by sixty percent in the past ten years a drop in demand from coal makers in jewis is putting pressure on the mines. south africa's platinum belt holds the world's richest because of the precious metal. half of the world supply is mind here. but the industry is on a knife age besides falling commodity prices homemade problems are also affecting the sick to badly for analyst peace a major government policy combined with growing work of demands are responsible for plus in the mining's decline. we have

a horrible environment here it's not accommodate you know we have an environment that wants to put all of our wires out of business and the market really doesn't have much effect anymore on our platinum production we're going to have decreasing production regardless of what that platinum price does in the future. it's a difficult situation the government is pushing the industry to redress post apartheid inequalities it wants black ownership to be increased to at least thirty percent at the same time the communities around the mines are demanding better pay and housing. in the past these communities group poorer while mining profits increased now half of the mines are running at a loss people here are in despair. the government is growing increasingly hostile to the industry calling it white monopoly capitalism it wants more black people in top executive positions but it's accused of ignoring ordinary miners and their families people feel sidelined and anger is growing industry experts say round

table talks are the only solution. platinum prices of plunged sixty percent since two thousand and eight and the outlook remains grim for south africa's platinum miners. that you're up to date with the latest from the world all business from all find us on facebook one of us on twitter at the business on that see humphrey is my handle back tomorrow same place.

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environment for the better it's up to us to make a difference let's inspire each other. be committed for the farming magazine. long d.w. . on freedom and hope. where i come from the region is rich in history. but so poor in education opportunity and freedom this makes it specially difficult for independent journalists i see many of the young promising journalists who are now making names for themselves all over the. song live along the way some might follow. with continue. their experience of freedom in a sense is like the experience of day you'll visit what you call coming back from. mining your fish would i work at the end of it.