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JBS pays $11 million ransom, Keystone XL pipeline ends, U.S. donates 500M vaccines

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Julie Hyman breaks down Thursday’s business headlines, including: JBS Holdings disclosing the $11 million amount paid for the ransomware attack, the developer behind the Keystone XL pipeline abandoning the project, the U.S. moving forward with plans to donate 500 million Pfizer vaccines to lower-income countries, and United Airlines planning to order 200 planes split between Boeing and Airbus.

Video Transcript

JULIE HYMAN: Other big headlines that we're watching today. The US is set to donate 500 million coronavirus vaccine doses globally to be distributed by COVAX, the initiative backed by the World Health Organization. The Biden administration plans to buy the vaccines from Pfizer. 200 million doses slated to be distributed this year. 300 million in the first half of next year. President Biden announced this plan at the G7 meeting this morning in Britain. The president, by the way, also slated to meet with UK Prime Minister Boris Johnson for the first time since Biden took office. That's happening in the next hour.

The Keystone XL Pipeline project has been scrapped. It's a victory for environmental activists who had campaigned against it for years. Canadian pipeline company, TC Energy had planned the pipeline to carry petroleum from Canadian tar sands to Nebraska. The project had been supported by the Trump administration but President Biden rescinded its construction permit on the day he took office.

Beef processor, JBS, said it paid $11 million in Bitcoin to hackers that infiltrated its computer systems over Memorial Day weekend. CEO Andre Nogueira said in a statement, this was a very difficult decision to make for our company and for me personally. However, we felt this decision had to be made to prevent any potential risk for our customers.

And a key step in Boeing's quest to boost its 737 MAX following two fatal crashes and ensuing groundings and investigations. United Airlines is in advanced talks for an order that could include at least 100 of the planes. This according to people familiar with the situation cited by Bloomberg. United reportedly wants to upgrade its fleet and is focused on fuel efficiency.