Argentinas president faces criminal charges. She is accused of trying to coverup the alleged involvement of officials in the 1994 bombing of a windows iris Jewish Center buenos aires Jewish Center. The indictment comes after a prosecution investigating the case was found dead on the eve of hearings. The Ridesharing Company lyft is in advanced talks to raise 250 million in funding. People familiar with the situation says it would value the company at 2 billion. Lyft operates in 60 u. S. Cities while uber is in 277 cities around the world. Google cofounders larry page are selling some of their stock. They will each cell 2 million shares of common stock and 2 million shares of nonvoting class c capital stock. It is part of a new trading plan to diversify their assets. Now to the president and his speech in Silicon Valley in front of apple chief executive tim cook and executives around the world. Hosting a Cyber Security summit at Stanford University, the president urged companies to share information about Cyber Threats with each other and with the federal government. It is a task that Many Companies have been reluctant to do even as companies from Healthcare Companies to sony suffered from cyberattacks. There is only one way to defend america from Cyber Threats and that is through government and industry working together, sharing appropriate information as true partners. The president concluded his speech by signing an executive order that encourages such information sharing. Cory johnson has been attending the summit all day and joins us now from Stanford University. Cory . It has been a very interesting gathering. The crowds have been interesting. Perhaps nothing more interesting than what tim cook, the ceo of apple and one of the most Interesting Companies in the world when he addresses crowds, he talked about these issues in Cyber Security privacy, the governments relationship with privacy and what privacy means for us as american citizens as he sees it. Listen to what he had to say. At apple, we start with a very simple premise. Our Customers Trust mean everything to us. We spent decades working to earn that trust. That is what privacy and security are built into every one of our products and services from their inception. We have strict policies that govern how all data is handled. Our networks and systems are segmented, our hardware and software use encryption. We have a Security OperationsTeam Monitoring our infrastructure 24 7. Beyond that we have a straightforward Business Model that is based on selling the best products and services in the world. Not on selling your personal data. [applause] thank you. We dont sell advertisers any information from your email content, from your messages or your web browsing history. We dont try to monetize the information you store on your iphone or on icloud. When we ask you for data, it is provide you Better Services and even then you have a choice you are in the driver seat, on how much information you share and when you want to stop sharing that. We set the industrys highest standards and we are deeply committed to living up to them. Today so much of her information is digital. Our memories of family and friends in our photos and videos. Our medical history and our financial transactions. Our most private conversations at home and at work. This comes with great benefits. It makes our lives better easier, healthier. But, at apple, we have always known this also comes with a great responsibility. We know hackers are doing everything they can do to steal your data. It is why we have used all the technology at our disposal to create the most secure devices and the most secure systems that we can. In 2013, more than 13 million americans were victims of Identity Theft which is now one of americas most fastestgrowing crimes. In the last few years hackers have infiltrated some of our biggest banks and companies, stealing the credit card and debit card information of hundreds of millions more. Just the other week, we saw hackers stealing information from one of americas Largest Health care providers. The personal impact of these Security Breaches cnaan be devastating. By clicking on the wrong link or simply using your credit card too many people have had their identity stolen, their finances threatened and their lives turned upside down. These offenses cost our economy billions of dollars every year. There is some good news. The good news is that we have the ability to protect people from these growing threats. With apple pay, we put in place a mobile Payment System that is significantly more secure than the old age of the plastic card and the magnetic strip. This is another product where security was not an afterthought. Security was part of the reason we developed the technology in the first place. You see, apple pay starts with a premise that your credit card information and purchases are personal to you. And they should stay that way. When you add a card to apple pay, your actual credit card numbers are never stored in your device or on our servers. Instead for every payment, we created unique onetime codes that is only good for that one transaction from your device. Your purchases are private and we dont store the details of those transactions. They remain between you, the merchant and your bank. We dont know your credit card number or what you bought or how much you paid. And we dont want to. Just three month after we launched over 2000 banks have signed on to bring apple paid to millions of their customers. Today, we are excited to announce that beginning in september, apple pay will be available for many transactions with the federal government. Tim cook you can watch the full speech on bloomberg. Com. Poking some holes at google about mining personal data. What this mean to every company that may be the best Practices Company should follow. We will talk about all of that in the next hour. Stay tuned. This is bloomberg west. Greece in its official creditors will extend their talks over the weekend. Both parties are turned to reach a deal to extend greases bailout terms. Investors were optimistic. Stocks rallied to a twomonth high. Virgin media is investing more than 4. 5 billion to expand its Broadband Network in the united kingdom. The company says the plan will create 6000 jobs and bring superfast connections to 17 million homes and businesses. And more consolidation in frances telecom industry. All pieces weighing a takeover bid and is reviewing the financial and regulatory restrictions. A person familiar with the matter say they could still decide against making a bid. Let us continue with a look at Cyber Security. The white house hosting its first Cyber Security summit today on the campus of Stanford University in the heart of Silicon Valley. President obama urged companies to share information about Cyber Threats with each other and with the federal government saying the u. S. Is in a cyber arms race against hackers. The president said compute protecting Computer Networks must be a shared mission. He was more with what the president had to say. With your Cutting Edge Research programs and your new cyber initiatives, you are helping us navigate some of the most complicated cyber challenges we face. That is why we are here. To want to thank all of you who joined us today. Members of congress, representatives from the private sector, government, academia privacy and consumer groups, and especially the students that are here. Just as we are all connected like never before we have to Work Together like never before both disease opportunities, but also meet the challenges of theseis. The there are technologies that empower us to do great good can also be used to undermine us and inflict great harm. The same Information Technology that helps make our military the most advanced in the world are targeted by hackers from china russia who go after our defense contractors and systems that are built for our troops. The same social media we use in government to advocate for democracy and human rights around the world can also be used by terrorists to spread hateful ideologies. These Cyber Threats are a challenge to our national security. Much of our critical infrastructure, our financial systems, our power grid, health systems. Our networks connected to the internet which is usually empowering but also dangerous. For more from Stanford University, cory johnson is standing by. Cory . Pimm very interesting to hear the president s comments. He is almost greeted everywhere with thunderous applause and people want to see the president , but he seemed to understand the real issues facing businesses as they deal with these issues. So locked in the conversation is about privacy. Certainly it is that but these are Business Issues he was talking about. What to do companies do, how do they respond to hacks, the volume of the problem. He seems to have a handle on it. He wanted to discuss it in a big way to the whole crowd that was gathered here. As well as the small groups he met at lunch today to really understand what those businesses are going through and how the federal government might better guide them to solutions. What is the actual debate . Is it over privacy meeting who gets a look at what data or the ability of companies to share information about when and if they are hacked and who was attacking whom . And dont think it is a simple as one big debate about one side and another side. Rather i think the debate is about what are the best practices like sharing information. How can you do that in the safeway, a way that will not hurt your business down the line whether it is through litigation or exposing yourself to antitrust concerns . We talked to a bunch of ceos and you will see some of those interviews about how the best practices can be helped with some guidance and maybe some better laws out of the federal government. Coming up next, how do companies combat Cyber Threats . The answer might just surprise you. And more from president obama Cyber Security summit at Stanford University, next. This is bloomberg west. Now more on president obamas Cyber Security summit at Stanford University was a big names talked about methods to combat this evergrowing threat. Cory johnson spoke with rsa president amit. I think there is a broader understanding of Cyber Security at the white house and across the nation. The world has changed. We look at the news on a day and day basis and you see major corporations being hacked, attacked, being embarrassed. There is a different level of awareness around how real the threat is and how it impacts american corporations and the American People. Quite after september 11 after september 11, the focus was al qaeda, maybe afghanistan, maybe the war in iraq but it was not Cyber Security. How is the notion of where the technological capability changed . Of the perceived threat at the time was very focused on terrorism for obvious reasons. The reality is cyber is a pervasive to that. We are exposed to all levels across government, the private sector and our life. The threat actors are very consistent. There are terrorist actors. There are cyber criminals. This is a major industry. At least, according to the fbi. In march 2011, you had a very sophisticated big cyber attack the picture company that protects against cyber attacks. But, the discussion outside of that was not big. The discussion outside of the sony attacks, around the recent attack seems to have entered into the national discourse. What is different from 2011 to now . It is a big deal. It was a huge discourse from our perspective. We went through a tremendous process trying to implement transparency, trying to help our customers and people that use our technologies and the security market. The landscape understands what type of attack was unfolding. How the intruders got in and what types of things people need to do to protect themselves. It is imperative to have that type of transparency because we can only improve our level of protection if we understand what those threats are. To be able to disclose to understand who is doing the attacking. As opposed to whom . We disclosed transparency to our customers, our Business Partners and two other people in the security community. At the end of the day, it is not us against our competition for our customers against competition, it is our society against the cyber criminals. Widest sharing that information help you be safer . It is because it is a community that comes together and says we have the same thing happen and we can figure this out together . There are a number of advantages to exercising transparency around the cyber attack. If youre willing to share with another organization, they are willing to share with you. If we see an attacker uses certain technique and we share that with other parties, they know to protect themselves from that technique. We end up stepping up the game and the bar that these criminals have to go through in order to expose organizations. Your business is one of the fastestgrowing parts. I wonder if you are benefiting from some of those trends about going under the cloud and different types of protection that are required. We are the leader in the multiattack authentication. If youre only using a pass or days, you are very exposed. When you use strong authentication whether it is a token or fingerprint or facial recognition or any types of these modern technologies, you really increase the level of protection you afford. Any information you put into any of the sites you interact with. Do you guys feel like the nsa issue that was raised with lots of companies some like rsa cooperated with the government and others finding out that the nsa was in the systems anyway. Is that hurting business . Rsa is very careful. We never do anything to actively degrade the level of security and protection we applied to our customers. One of the fundamental line shifts that is occurring in government i think it is occurring in Technology Organizations should not rely on the government to protect them. It is up to rsa and every Technology Company to protect itself and its infrastructure and not rely on somebody else which might not understand the value of their data or their systems to protect them. The president of rsa. He was with cory johnson. Not everyone is a fan of data sharing between Technology Companies and the federal government. More on the impacts of spying, next. You are watching bloomberg west. We continue our coverage from the white house Cyber Security summit at Stanford University. Cory johnson has more. Cory . Pimm Interesting Times in the world of Cyber Security. That is the point of this, but one company has an working on Cyber Security since the moment it has started up. It is in wrestling with a change in technology as we go from the world of Desktop Computers to the world of phones and such. I sat down with the ceo of symantic to talk about their approach of the new problems posed by separate security. Im pretty pleased the white house did the executive order. It is really getting behind sharing, information sharing because we need a lot of tools to be able to protect society whether it is government corporations or individuals. Sharing is one of the things we need to do to be able to better protect each other. U of known a lot of hacks for a lot of years. Your business is entirely based on that. I feel like the tenor and the purpose of those attacks has dramatically changed particularly with the north korean attack on sony the possible chinese link to the attack on anthem. What is your perspective . We still see the gardenvariety attacks. Hackers of days past they used to be just a nuisance. We are still seeing those but what is catching everybodys attention are these attacks much more persistent, sophisticated because the severity is so much more with those attacks. All of the technology we are focused on today really is how to protect companies and government, people against those attacks. Awareness has never been higher about the risks of businesses towards a cyber attacks. What our companies doing that is making them more vulnerable . I think the Technology Trends we are seeing really create more attack services. You think about the information going to the cloud. There is a much broader surface for attackers to use. They are looking for the easiest way in. These trends that make our lives easier, more convenient are also making our lives more vulnerable. You are saying the place where the attacks of happened is different. That has been an interesting struggle for your company to go from protecting Desktop Computers to what . Our world is still about protecting enterprise or individuals. We are continually increasing the level of sophistication of the technologies that we are using to protect folks. It is still about the same control points. The endpoint, web, email security. We had a thing broader than that to protect more of these services. It is a layered approach that we need today to protect people. A lot of the top names of the Biggest Companies were here. Tim cook was here. A lot of ceos chose not to be here and companies that had a contentious relationship with this white house about nsa policies. Do you think the white house is learned how those policies are civil liberty concerns and also hurting business . I think the president plenty of dialogue about that but we need to engage in the conversation. I think the president is well aware that some of the activity that has been done like with Edward Snowden say what you will about him, he let these businesses know that the federal government was sneaking around and taking data. We have heard repeatedly whether it is from hewlettpackard or cisco or microsoft that customers are wary of doing business with them because they are based in the u. S. Because of that nsa and white house policy. We are seeing governments in europe are a little more reluctant to engage companies. We have to adapt our business to become president cognizant of that. It is important to stay engaged with the federal government to make sure the policies that are put in place a really collaborating with us so we can drive in agenda together that protects all of us much better. Tell me that again. Your potential customers in europe saying what . They are concerned about their data privacy. Their issue of data sovereignty. Whether that data leaves their country is very important to them. Do they have other options . Is their real competition in europe that could take that business away . More what they are asking from us is creating localized presence so we can keep the data in country. The more business you have in europe 50 of the business is overseas. We have to look at that. If you are a smaller company, it is much more difficult to do. That is disconcerting. Do you think one of the messages of Silicon Valley will be shared with the president . Our message is about what we need to do following on the executive order for information sharing. We are pleased to see the leadership. We are a company that is already involved in sharing relationships because security when i talk about a layered approach one of the tools we want to use is sharing information with other private companies as well as the government so we can get a better understanding of what the Global Threat Landscape looks like. That was mike brown, the ceo of symantec. Imagine you just got hacked. What do you do . We will sit down with the ceo who gets those phone calls all the time and talks about the best practices in Cyber Security when we continue. This is bloomberg west. Here is the world news fighting in Eastern Ukraine today. Prorussian rebels and ukrainian troops are trying to maximize their territory ahead of the firing. It appears the truth will not hold. Ukrainian stocks fell for the first time in a week. Plans to cut 1500 jobs in russia this year. That is according to a person with direct knowledge of them matter which is the russian economy squeezing the banks profits. Most of the layoffs will be at the russian consumer unit. Another blow to american express. Jetblue was ending its partnership with the Credit Card Company a day after cosco said it was pulling out. Jetblue has reached a new deal with mastercard. This is bloomberg west. We continue with the white house Cyber Security summit in stanford california at Stanford University. Cory johnson is onsite and has more. One of the really big emerging companies in Silicon Valley that is so crucial in the ward of Cyber Security is apollo palo Alto Networks. The ceo was here at this interesting summit talking about the variations of Cyber Security and what Companies Need to be thinking about both in the way they share information after an attack and what do they do when it happens. I think what is happening is there is so much attention all the time being around Cyber Security that it is getting to a point where the focus is really prevalent from the administration down. There has been focus. I think what is happening now is that focused perspective is very broadbased. We have seen nation attacks. There have been executive orders in the past and i think there will be more in the future. I think that is good because the more focus on this, the more companies will share things amongst each other because we realize nobody will get this done by themselves. Why have not companies shared in the past and the best practice has been to share . One is competitive. Sometimes competitors do not want to give information to put yourself at a disadvantage. At least in the area of security, a lot of companies are thinking this is a neighborhood and we need to band together. It could be an antitrust issue as well. If you share, what are your liabilities around that . But we are hearing from the administration is we want to have liability protection. I feel like that is a line in the executive order but that should be huge. If you share information with one of these groups you bought Liability Insurance against that pack . Not completely. What they are proposing is there should be some level of liability of baseless litigation but at the same time they will not try to immunize negligence in sharing. There are a lot of details. Does the white house actually have authority over that . There will be executive orders around that to get the ball rolling. Legislation will have to be passed in order for that to be the case and it will be good if it was the federal government as opposed to companies. It puts a lot of regulators there are different legal standards. What is the biggest driver of the work you guys are doing in terms of selling into the security arena . The biggest driver is the fact that people know their businesses are at risk. Losing that offshore property. What is it about the changing in the kinds of technologies out there . We know the hacks are increasing insecurity is getting better. How is Technology Changing . The exposure is garnered to the fact even though there was more technology out there, 95 of the world is still on legacy systems. There has to be accommodation of Technology Processes and people. That is happening and anything happen faster. Collects the companies the Companies Working together in terms of sharing information what was the tenor of the lunch conversation with the president . It was very collegial. That is boring. Nobody throwing food . It was very informing. We had a few topics around sharing and how big you get the Regulatory Framework in a way that it is not just about regulation, but real security. The president , the First Digital president , here we are six years into it what do you think he has learned about Cyber Security that he did not know six years ago . Im not exactly sure he would say to that. The outside view is this is difficult. It has boiled down today to more and more into security versus privacy. Those things are not mutually exclusive. They cannot be. If they are, we are in big trouble. It is somewhere in the middle where the answer is and it will take the government, the private sector, privacy advocates to come to the table. That is what the summit was about. Lets continue to have that dialogue and face these issues because if we cannot resolve them, it will be back for bad for us. Lets say, ceo and i find out we have been hacked. We dont know what they have. What should i do . First thing would be to say what do we know, what dont we know . It would be wise at that point to make sure you are trying to quarantine as much as the information or damage as you can. Get the investigation done to help that. Once you have that isolated you want to do some forensics analysis. How do we think this occurred because you can learn something from that into the future . You want to take that and apply it to the things i mentioned before. The best technology i can have, the right processes in place to utilize that anima by doing the best job to teach my employees cyber hygiene because often that is the problem. Does this event today help broaden the knowledge of those best practices . I think so. There are a lot of breakouts going on. My understanding is one of these breakout sessions, these topics are being addressed. I think the overarching theme was information sharing which is the recognitions that nobody on their own will have enough information to counter a very directed attack. Palo Alto Networks ceo had lunch with the president and so did the godfather of Silicon Valley. We will have him next. This is a bloomberg west. Lets continue with stanford universities Security Summit hosted by the white house. Cory johnson was there. Cory . Mark andreessen calls this guy the godfather of Silicon Valley. He is the president of Stanford University but so much more. He was the founder of mist back in the day. A very important Silicon Company in the 90s. He does it all. He did sit down with me to talk about what this means to have the president here in his university and what this means for Silicon Valley to be so important to so Many Companies. Listen to what he had to say. There are problems. The problems come down to there have been enough issues that there is breakdown trust and i think we all realized to make progress on some of the Cyber Security issues, particularly when they involve international aspects, we need trust and collaboration. Trying to think about how the university can form a neutral ground where you can come together and have that discussion and think about how you might address the problem. There were some interesting changes in the executive order with liability of companies that share information. How important is that . I think it is vitally important. It is critical we get early full rebuild thes and data shared among companies. Why . Many of the breakins, the hackers there is been a big change. It is no longer a lone hacker. It is sometimes a statesponsored group or a group of cyber criminals that are wellfunded. They exploit those vulnerabilities. If companies do not communicate about that and share them and close them and put on various Cyber Security methods for filtering them, they get broken into one after another. By sharing that data of a good weapon and use it once. When they broke into stanford when we had a massive breakin total compromise of our system there was a known vulnerability. They scanned for a system that would have that. It was easy to phish an account. Where 50,000 accounts. They break in and then scan for the system that is running this known vulnerability. They go right in and that is the key. In terms of responding beyond the university . We discovered them. We discovered them in about 24 hours because the first thing they did was download the entire password file. They tried to download all those accounts. That crash the system and we discovered them. Then we begin to think about how we build a Stronger Security system. We changed a lot of things. Duel at dedication to try to raise people control whether paycheck goes. We want to make sure we protect that information. You are a University President second, but i love that a university has to think about these things. I really believe every business in the world is facing these issues and a way that they have never had before. Did the sony hacks chain something . I think the sony hack changed something because all of a sudden, just the axis to email and data like that, Companies Realize how vulnerable they were that although there in communications can be stolen. It is no longer just the banks and the Health Providers that we are worried about this is corporate information. In some sense it is corporate espionage. It is not that different than what they try to do a google and intel, all of a sudden, sony was not accompany you thought was more durable but they are vulnerable but they are. The ceo of palo Alto Networks is here, the ceo of apple is here. The ceo of google is not here. Why do you think . I knew he was out of town. The chief Information Security officer was here. There was a lot made about this of how google has problems. There are a variety of different issues. Tim cook brought those up. How do we get more trust from the American People . I thought that tim cook was taking jabs at a google when he was saying we dont want your information, we think it should be private. Do you think he was . He is not a Service Provider company. It is a different kind of company. How people are going to get that data the cloud was hacked. People store lots of data now in the cloud. How we are going to protect that information and give people confidence that it is protected is a critical issue. The matter what happens, we need to solve that issue. We mentioned google and Cyber Security. The notion that google will start to expose other companies Cyber Security weaknesses after 90 days they were notified is fascinating. What are they trying to do . . I think there try to get companies to step up and deal with the issue. And put on the people to solve the problem but also let the rest of the customers know this motor ability has been exposed vulnerability has been exposed. This will provide an alternative way to do this but i think there is some impatience possibly with the fact that nobody is really proposing this and try to solve this problem so we can have a way to exchange this information in a way that is slightly more protected. We need it. You cannot no system is perfect. So how we are going to get that information out and put fix is place as quickly as possible that is the challenge. That was the godfather of Silicon Valley, john hennessy. Thank you for watching bloomberg west