An old-fashioned way of prepping businesses for cyberattacks

Summary

Marketplace Morning Report – Episode Summary

Episode Title: An old-fashioned way of prepping businesses for cyberattacks
Date: October 14, 2025
Host: William Lee Adams (from the BBC World Service)
Main Theme:
This episode centers on how businesses are responding to the increasing threat of cyberattacks, particularly in the UK, with a special focus on a surprisingly "old-fashioned" recommendation from cybersecurity authorities: planning for pen-and-paper operations if digital systems are compromised. The episode also explores other economic stories, including international tensions in environmental and trade policies.

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Key Discussion Points & Insights

1. Cyberattack Preparedness: Back to Pen and Paper

Timestamps: 01:08 – 02:38

• Record Cyberattack Numbers: The UK’s National Cyber Security Centre (NCSC) handled a record number of serious cyberattacks for the third consecutive year.
  • “It's the third year in a row that the National Cyber Security Centre has dealt with record numbers of serious cyber attacks on UK organisations.” — Jo Tighty, [01:52]
• Public Impact: Attacks ranged from shop shelves left bare to factory shutdowns, such as at Jaguar Land Rover.
• Primary Threats: While foreign threats from Russia and China have risen, criminal ransomware and data breach extortion remain the biggest risk for UK organizations.
• Government Action: Hundreds of businesses received warnings and advice to bolster defenses, highlighting the need for offline contingency plans.
  • “In particular, they've been told to plan for how to keep going using pen and paper if hackers take computers offline.” — Jo Tighty, [02:29]

Memorable Quote:

“CEOs have been urged to plan for computer security breaches by going back to pen and paper.” – William Lee Adams, [01:14]

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2. Climate & Global Shipping: US Disrupts UN Treaty

Timestamps: 02:38 – 03:33

• UN Talks in London: Delegates from 100+ countries met to finalize a treaty for cleaner shipping fuels.
• US Intervention: At the last moment, the US threatened nations supporting the plan with port bans and visa restrictions, throwing the agreement into doubt.
  • “On Friday, the US threatened countries backing the plan with port bans and visa restrictions for mariners.” — Esme Stallard, [03:13]
• China’s Response: China mobilized other nations to resist US pressure; this dispute follows recent tariff escalations.

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3. Global Business Update

Timestamps: 03:33 – 04:27

• Google’s Investment: $15 billion pledged for an AI data center in Andhra Pradesh, India, creating around 190,000 jobs.
• French Politics: New government to introduce the 2026 budget.
• Commodity Markets: Silver hits a 35-year record high, nearing $53 an ounce.
• US-China Tensions: New shipping fees imposed by both countries start today; these are part of a broader global trade dispute, including high US tariffs on Swiss goods.

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4. US Tariffs on Swiss Exports: Economic Impact

Timestamps: 04:27 – 07:45

• Shock in Switzerland: The US imposed a 39% tariff, catching Swiss business and government off guard on a national holiday.
  • “Switzerland, with a 39% tariff.” – William Lee Adams, [04:47]
• Swiss Reaction: The Swiss president’s attempts to negotiate a reprieve in Washington failed; the export-driven Swiss economy is feeling the pinch, with 17% of exports bound for the US.
• Sectors Most Affected: Pharmaceuticals, luxury watches, and medical technology top the list.
  • “First of all, is pharma. Second, not surprisingly, is watches. Then actually comes MedTech.” — Adrian Hun, [06:09]
• Medical Tech Consequences: Devices like pacemakers, dental implants, and surgical instruments are core exports, and already operate with slim profit margins.
• Consumer Cost: Swiss leaders argue that US patients, not foreign sellers, will end up paying the higher price due to these tariffs.
  • “Medical device will get more expensive for US Patients.” — Adrian Hun, [07:32]
• No Swiss Retaliation: Switzerland decides not to impose retaliatory tariffs, reasoning it is “David” in the face of America’s “Goliath.”

Notable Quotes:

• “We are the biggest foreign investor in the United States. We employ hundred thousands of U.S. citizens.” — Adrian Hun or Gilles Robert, [05:54]
• “What people don't understand is the country eats the tariff, the company eats the tariff.” — William Lee Adams, [06:55]
• “Swiss negotiators have ruled out retaliatory measures, concluding that Switzerland's David is just too small to take on America's Goliath.” — Imogen Fuchs, [07:45]

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Notable Quotes & Memorable Moments

• On Cyberattack Resilience:
  “They've been told to plan for how to keep going using pen and paper if hackers take computers offline.” — Jo Tighty, [02:29]
• US-Swiss Tariff War:
  “Medical device will get more expensive for US Patients. Switzerland's Tech Sector association has described the levies as a horror scenario that threatens jobs across the country's export driven economy.” — Adrian Hun, [07:32]

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Important Timestamps

• [01:08] – Introduction to cyberattack advice for businesses
• [01:52] – Details from the UK National Cyber Security Centre (Jo Tighty)
• [02:38] – UN global shipping talks derailed by US action (Esme Stallard)
• [03:33] – Global business headlines: Google, France, silver prices, US-China tariffs
• [04:27] – Swiss response to US tariffs (Imogen Fuchs, Adrian Hun, Gilles Robert)
• [07:45] – Conclusion on Swiss measures and the broader impact

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Episode Tone & Style Notes

• Language: Clear, matter-of-fact, and concise, with direct attribution to correspondents and expert guests.
• Tone: Urgent yet balanced, with a focus on practical business responses to cyber and trade threats.
• Memorable Storytelling: Vivid reporting, such as the disruption of Swiss National Day and candid assessments of international economic policy.

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This episode offers a brisk, insightful survey of key global business risks for 2025, with emphasis on returning to basic operational practices in the cyber age and the high stakes of international trade tensions.

Transcript

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[William Lee Adams]

An old fashioned way of prepping businesses for cyber attacks. Live from the uk, this is the Marketplace Morning report from the BBC World Service. I'm William Lee Adams. Good morning. We start with the latest advice on how to battle cyber attacks and it might be more low tech than you think. CEOs have been urged to plan for computer security breaches by going back to pen and paper. The UK government has told chief executives to plan offline contingencies after a number of high profile attacks on companies, hacks that cost global brands millions of dollars. It comes as the UK's National Cybersecurity center reports an increase in nationally significant breaches this year. The BBC's cyber correspondent is Jo.

[Jo Tighty]

It's the third year in a row that the National Cyber Security Centre has dealt with record numbers of serious cyber attacks on UK organisations. Some have been very public, others have been kept secret. 200 were classed as nationally significant, 18 of them in the second highest category. The centre pointed to shop shelves being left bare after the wave of hacks on UK retailers, as well as factory floors being abandoned at Jaguar Land Rover. The threat from Russia and China has grown, but criminal ransomware and data breach extortion attacks remain the biggest threat to organisations. The agency, along with the government, has written to hundreds of businesses warning them to strengthen their defences. In particular, they've been told to plan for how to keep going using pen and paper if hackers take computers offline.

[William Lee Adams]

Joe Tighty there. Delegates From More than 100 countries are in London for UN talks aimed at reducing the environmental impact of global shipping. Nations had been expected to adopt an international plan to move to cleaner fuels, but a last minute intervention by the US administration has cast doubt on the deal. Here's the BBC's Esme it took 10.

[Esme Stallard]

Years of negotiations before finally in April, countries agreed a treaty to shift the global shipping industry to cleaner fuels. This week was meant to be ceremonial, the final signature on the dotted line. But on Friday, the US Threatened countries backing the plan with port bans and visa restrictions for mariners. The BBC understands that China has sought to counter this and is urging other countries to stand firm in their support. This is just the latest in escalating tensions between the two states following tariff increases last week.

[William Lee Adams]

Esme Stallard let's do the numbers. Google will invest $15 billion over five years as it sets up an AI data center in southern India. The facility in Andhra Pradesh will create around 190,000 jobs. The new French government under Prime Minister Sebastien Lecornau will today officially table the budget for 2026, which must now be approved by Parliament before the end of the year. And Silver beat a 35 year record as it surged to an all time high near $53 an ounce. Trade tensions between China and the US are continuing to escalate once more. Starting today, the world's two largest economies will impose new fees on ships docking in their ports. China, of course, isn't the only country that President Trump has hit with high tariffs. Switzerland now has duties of 49% on its exports to the U.S. the BBC's Imogen Fuchs has been gauging the impact on Swiss businesses.

[Imogen Fuchs]

1 August 2025. Across Switzerland, families were celebrating Swiss National Day, getting together for brunch in the mountains, barbecuing the traditional searchlight sausages. And then shattering news.

[Jo Tighty]

The president is escalating his global trade tariff war.

[William Lee Adams]

Switzerland with a 39% tariff.

[Imogen Fuchs]

The shock among Swiss business leaders was profound. For Donald Trump, the fact that tiny Switzerland, with a population of just 9 million people, sells more to the US than it buys is intolerable.

[William Lee Adams]

Look, I did something with Switzerland the other day and they paid essentially no tariffs. And I said, we have a $41 billion deficit with you.

[Imogen Fuchs]

Two months on, efforts to negotiate with Washington have proved fruitless. The Swiss president is expected to leave Washington without a deal. The Swiss economy, regularly ranked as the most competitive in the world, is slowing down 17% of Swiss exports are sold to the US a significant percentage that Switzerland can't afford to lose overnight. Jan Atislander, director of international trade for the Swiss Business Federation Economy Suisse, says the US Gains more from Switzerland than quality cheese and chocolate. And he's still at a loss to understand President Trump's strategy in the area.

[William Lee Adams]

Of research and development.

[Adrian Hun or Gilles Robert]

We are the biggest foreign investor in the United States. We employ hundred thousands of U.S. citizens.

[William Lee Adams]

In the United States and we pay the best salaries.

[Imogen Fuchs]

So which Swiss products are most affected by the 39%?

[Adrian Hun or Gilles Robert]

First of all, is pharma. Second, not surprisingly, is watches. Then actually comes MedTech.

[Imogen Fuchs]

Adrian Hun is managing director of Swiss MedTech, the trade body representing Switzerland's medical technology industry.

[Adrian Hun or Gilles Robert]

We are doing a lot of life saving and life improving devices, knee implants, pacemakers, dental implants, surgical instruments and much more.

[Imogen Fuchs]

Jules Robert is chief Executive officer of MPS Micro Precision Systems. From aortic valve replacements to the tiniest of surgical drills used in hip or knee replacements, it produces things a wealthy country with an aging and increasingly overweight population like the US really needs.

[William Lee Adams]

They had the best price before the new tariffs came into effect. So that means we don't have this leeway of giving a discount to our customers because they are already the margins are already as low as they can be. What people don't understand is the country eats the tariff, the company eats the tariff.

[Imogen Fuchs]

President Trump has promised US Citizens that the countries he is punishing with tariffs will swallow the cost of them. Adrian hun of Swiss MedTech agrees with Gilles Robert that this will be bad news for US Patients and US Taxpayers.

[Adrian Hun or Gilles Robert]

Medical device will get more expensive for US Patients. Switzerland's Tech Sector association has described the levies as a horror scenario that threatens jobs across the country's export driven economy.

[Imogen Fuchs]

So pain literally for US Patients because of these tariffs, but also pain for Switzerland. Swiss negotiators have ruled out retaliatory measures, concluding that Switzerland's David is just too small to take on America's Goliath. I'm the BBC's Imogen folks for Marketplace.

[William Lee Adams]

That is all for today in the uk. I am William Lee Adams with the Marketplace Morning Report from the BBC World Service. On behalf of the entire team, thanks for listening.

[Kimberly Adams]

I'm Kimberly Adams, host of Make Me Smart, a podcast from Marketplace that makes today make sense. Join me throughout the week as I dig into the biggest stories in tech culture and the economy. Whether it's a vibe check on the job market or the latest on China, US Relations make Me Smart helps you understand how the headlines actually impact your daily life. Listen to Make Me Smart on your favorite podcast.

[Adrian Hun or Gilles Robert]

Applause.