IT Outage Causes Chaos
Disrupting Airlines, Banks, Media
Global Impact: Flights Cancelled, Pay Delays
A global IT outage is affecting major services including airlines, banks, healthcare and broadcasters across the globe. Cybersecurity firm CrowdStrike saw its shares plunge Friday after a software update led to a major outage affecting businesses across the globe. Around 4295 flights globally or 39% of all scheduled services have been cancelled so far today according to aviation data from Cirium. The outage might also impact people getting paid on time Melanie Pizzey head of the Global Payroll Association told PA news.
The global outage impacted a raft of Australian companies and government agencies on Friday afternoon. Retailers closed for the day and the actions all traced back to a batch of bad computer code. Despite the widespread impact of the outage it has yet to contaminate the broader stock market with futures on the S&P 500 largely unchanged in pre-market trading.
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