Business
Global websites down as Cloudflare ‘investigating’ fresh issues
A host of websites, including LinkedIn, Zoom and DownDetector, went down on Friday morning after fresh issues at Cloudflare.
Cloudflare said shortly after 9am that it “is investigating issues with Cloudflare Dashboard and related APIs (application programming interfaces)”.
The software business said users have seen “a large number of empty pages” as a result.
It added shortly after that it has implemented a potential fix to the issue and is now monitoring the results.
Nevertheless, a number of websites and platforms were down, including the DownDetector site used to monitor online service issues.
Users also reported issues with other websites including Zoom, LinkedIn, Shopify and Canva, although many of these are now back online.
After returning online, the DownDetector website recorded more than 4,500 reports related to issues at Cloudflare.
Indian-based stock broker Groww also said it was facing technical issues “due to a global outage at Cloudflare”. Its services have now been restored.
Cloudflare provides network and security services for many online businesses in order to help their websites and applications operate.
It claims that around 20% of all websites use some form of its services.
It comes only three weeks after previous problems at Cloudflare hit the likes of X, ChatGPT, Spotify and multiplayer games, such as League of Legends.
Jake Moore, global cybersecurity adviser at ESET, said: “If a major provider like Cloudflare goes down for any reason, thousands of websites instantly become unreachable.
“The problems often lie with the fact we are using an old network to direct internet users around the world to websites but it simply highlights there is one huge single point of failure in this legacy design.”
The Reserve Bank of India (RBI) on Monday decided against activating the countercyclical capital buffer (CCyB), indicating that current financial and credit conditions do not warrant an additional capital requirement for banks, PTI reported.The central bank said the decision followed a review and empirical assessment of indicators used under the CCyB framework.“Based on review and empirical analysis of CCyB indicators, it has been decided that it is not necessary to activate CCyB at this point in time,” RBI said in a statement.Under the RBI (Commercial Banks – Prudential Norms on Capital Adequacy) Directions, 2025, the CCyB framework is activated when financial conditions indicate rising systemic risks linked to excessive credit growth.The framework primarily relies on the credit-to-GDP gap as a key indicator, along with supplementary metrics.According to the RBI, the CCyB mechanism is intended to serve two broad objectives.Firstly, it requires a bank to build up a buffer of capital in good times, which may be used to maintain the flow of credit to the real sector in difficult times.Secondly, it achieves the broader macro-prudential goal of restricting the banking sector from indiscriminate lending in the periods of excess credit growth that have often been associated with the building up of system-wide risk.The framework was introduced globally after the 2008 financial crisis as part of measures proposed by the Group of Central Bank Governors and Heads of Supervision (GHOS) under the Basel framework to strengthen financial system resilience.
The company has announced plans to build seven new models in Europe including a small electric hatchback.
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“Today’s policymaking is constrained by a more volatile external environment with more frequent and overlapping shocks, a rising public interest bill, in part reflecting market concerns with countries’ elevated debt, and the long-standing challenge of weak productivity growth,” he said.
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