UBS announced a net profit of $1.4 billion for the second quarter of 2019.Earningsread more
Beijing says it can still meet its 2019 growth target of between 6% and 6.5% and continues to roll out stimulus measures to prop up activity. China set a 2019 industrial...China Economyread more
Japan and South Korea are part of a complex and tightly linked supply chain that produces electronic goods such as smartphones and laptops.Technologyread more
A different oil pricing dynamic has been evolving with new supply calculations based on the U.S. as the world's largest producer.Market Insiderread more
The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Stocks in Asia Pacific edged up on Tuesday afternoon, as investors await closely-watched central bank meetings in the coming days.Asia Marketsread more
More than half of Venezuela's 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...World Politicsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Britain's Antstream is jumping into the cloud gaming battle with a streaming platform for retro titles. And Tencent just backed the company.Technologyread more
American comedian Hannibal Buress, who stars in "The Eric Andre Show," has made a recent transition into the world of business as an angel investor — but there's an important...How I Made Itread more
The insulin pumps subject to the recall connect wirelessly to other insulin equipment, including glucose meters, a monitoring system and controls that pump insulin.
"The FDA is concerned that, due to cybersecurity vulnerabilities identified in the device, someone other than a patient, caregiver or health care provider could potentially connect wirelessly to a nearby MiniMed insulin pump and change the pump's settings. This could allow a person to over deliver insulin to a patient, leading to low blood sugar ... or to stop insulin delivery, leading to high blood sugar and diabetic ketoacidosis," the FDA notice says.
The MiniMed 508 pumps can't be updated to address security flaws in the device's firmware, according to the notice. The company is offering alternatives with "enhanced built-in security capabilities."
In a letter to patients, Medtronic urged customers to speak with their healthcare providers about whether to change the pump. For those continuing to use it, the company recommends they keep insulin pump and devices connected to it "within your control at all times" and advises customers not to share the pump's serial number, among other recommendations.
Medtronic has identified around 4,000 patients using the insulin pumps today, and is "working with distributor partners to identify additional patients potentially using the pumps."
A Medtronic spokesperson said Thursday evening the announcement was a "safety notice," and noted: "in the medical device industry, the term 'recall' is used generally to cover a range of actions including, for example, customer or patient communications with additional instructions for use of the product."
The spokesperson also said the company and FDA are not aware of any confirmed reports of a cyberattack on the pumps.
Medtronic's stock was steady Thursday.