ICBC’s Entree Onto Wall Road Appeared Like a Cut price—Till Hackers Crippled Its U.S. Unit

Industrial & Industrial Financial institution of China, the world’s largest financial institution, paid $1 for its place on Wall Road. It acquired greater than it bargained for.  

The Chinese language lender acquired a small New York broker-dealer in 2010, a transfer that prolonged its presence into the U.S. securities business. It’s now coping with the fallout from a cyberattack this month that crippled that enterprise and briefly triggered widespread issues concerning the fragility of the biggest money market on the earth.