Afternoon Coffee: US Intelligence Aims to Prevent Supply Chain Hacking, Target Hires Another Former Amazon Exec

U.S. intelligence officials plan to provide companies with classified reports and other helpful information on possible hacking threats to their supply chains. It’s part of the National Counterintelligence and Security Center's effort to raise awareness of how hackers and foreign governments can steal sensitive information and cause supply chain disruptions.

Target Corp. has hired another former executive for its supply chain team. Preston Mosier will now serve as Target’s senior vice president of fulfillment operations and be in charge of the retailer’s process improvement, customer experience, product management and oversee the warehouses that send products directly to consumers.

Bank of America and HSBC partnered with the Infocomm Development Authority of Singapore to create a blockchain application for trade finance. The application, based on the Hyperledger protocol, aims to replicate the letter of credit transaction process between banks, exporters and importers.

The U.S. Energy Information Administration reported domestic crude inventories rose unexpectedly by 1.1 million barrels during the week ending Aug. 5. Analysts had expected crude inventories to shrink. The news caused oil prices to drop more than 1% today.

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