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JPMorgan Chase has acknowledged losing at least $2 billion over the last six weeks in an investment strategy that went awry. The losses are a big embarrassment to a bank that's usually seen as one of the best-managed on Wall Street. And the incident is already prompting new calls for tighter restrictions on bank trading.
The most challenging cyberattacks these days come from China and target Western firms' trade secrets and intellectual property. But a problem for some is a business opportunity for others: It's boom time for cybersecurity firms that specialize in going after Chinese hackers.
"It's the next big thing," says Richard Stiennon, an industry analyst who specializes in information security firms.