Lloyd's: Cyber-Attack on US Northeast Power Could Cost $1Trillion

July 9 - A cyber-attack on 50 power generation plants in the Northeast United States would not only harm millions of people but could cost the economy between $243 billion and $1 trillion in damages from the resulting power outages, said insurance firm Lloyd's and the University of Cambridge's Centre for Risk Studies.

A report entitled "Business Blackout" issued by the two organizations detailed a scenario in which cyber-attackers hacked, infiltrated and disabled only 7 percent of the 676 power generators feeding the grid of the 15 states of the northeast United States, a scenario the report called "improbable, but technologically possible."

Saudis to Build World's Largest Solar Seawater Desalination Plant

Saudi Arabia initiated a project to building the world's largest solar desalination plant. The plant, on the Persian Gulf coast at Al Khafji City, will produce 60,000 cubic meters of water daily when the plant begins operation in 2017. The Spanish firm Abengoa will integrate the solar panels into the plant's system.