Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

President Biden speaking during an event at the White House on June 2. Photo: Alex Wong/Getty Images

The Biden administration is urging businesses to take "immediate steps" to increase their ransomware defenses in the wake of several high-profile cyberattacks, according to a White House memo obtained by Axios.

Why it matters: The U.S. government's former top cybersecurity official Chris Krebs has described ransomware as a "global pandemic" — a crime that is increasingly common, but highly disruptive.

Context: Cyber criminal groups have launched at least two significant ransomware attacks against major businesses in roughly a month.

  • In May, a criminal group breached the Colonial Pipeline, the largest refined products pipeline network in the country. The attack forced the pipeline to shutdown, halting fuel deliveries along the East Coast for days. The company paid the hacker group $4.4 million to regain access to its computers.
  • A Russia-linked ransomware group forced all of JBS SA's beef plants in the U.S. to temporarily shut down this week, exposing the vulnerability of the world's largest meat processor.
  • “They went after our gas and they went after our hot dogs. No one is out of bounds here," Krebs warned on NBC's "Today" show on Wednesday.

What they're saying: "All organizations must recognize that no company is safe from being targeted by ransomware, regardless of size or location," White House deputy national security adviser Anne Neuberger wrote in the memo to businesses.

  • "Much as our homes have locks and alarm systems and our office buildings have guards and security to meet the threat of theft, we urge you to take ransomware crime seriously and ensure your corporate cyber defenses match the threat," it continues.
  • Neuberger recommended that businesses enable multi-factor authentication for sensitive accounts, use endpoint detection and response tools, and encrypt and regularly back up their data.
  • She also called on businesses to separate corporate business functions and manufacturing/production operations to ensure certain networks can be isolated and continue to operate in the event of an attack.

The big picture: On top of ransomware attacks, numerous U.S. businesses and organizations have also been victims of other types of cyberattacks recently.

  • The major SolarWinds breach by Russian-backed hackers became public in December 2020, though the full extent of that attack is still unknown.
  • In March, Microsoft discovered that at least 30,000 U.S. victims — including small businesses and local governments — had been hacked by a cyber espionage unit backed by the Chinese government.
  • Microsoft also discovered last week that the same Russian hackers behind the SolarWinds breach launched another wave of cyberattacks against government agencies, think tanks, consultants and NGOs.

Read the full memo.

Go deeper: Ransomware business achieves critical mass

Go deeper

Felix Salmon, author of Capital
Aug 4, 2021 - Economy & Business

Vax mandates to arrive in small businesses

Illustration: Aïda Amer/Axios

Half of America's small businesses are likely or certain to require their on-premise employees to be vaccinated, according to a Morning Consult poll of small businesses commissioned by American Express. That compares to 31% who say that such a mandate is unlikely or that they certainly won't impose one.

Why it matters: Many large businesses, from Facebook to Morgan Stanley, have announced vaccine mandates. New York City restaurants and gyms are also going to be fully vaxxed as of next month.

The hard math behind America's labor shortage

Data: Bureau of Labor Statistics, Congressional Budget Office; Chart: Axios Visuals

Yes, the pandemic has created unusual temporary labor market dynamics. But in the bigger picture, the 2010s were a golden age for companies seeking cheap labor. The 2020s are not.

The big picture: In the 2010s, the massive millennial generation was entering the workforce, the massive baby bo0m generation was still hard at work, and there was a multi-year hangover from the deep recession caused by the global financial crisis.

Advocates fret Roe v. Wade's 49th anniversary could be its last

Photo: Leigh Vogel/Getty Images for Women's March Inc

As Saturday marks the 49th anniversary of Roe v. Wade, the Supreme Court's landmark decision that legalized abortion access in the U.S., advocates warn the ruling is "more at risk now than ever."

The big picture: The Supreme Court in December heard a challenge to a Mississippi 15-week abortion ban that could throw Roe's survival into question, or at least narrow its scope.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!