FEAR & GREED | Business News AI discovers huge internet flaw; rates hit builders, retailers; basketball meets Wall Street
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Oct 22, 2026 AI exposes a decade-old security flaw affecting much of the web, forcing websites offline worldwide. Australia’s superannuation system earns top marks, while higher rates pressure home builders and furniture retailers. Fortescue faces a tense standoff with Chinese iron ore buyers, threatening export revenue. Meanwhile, the Knicks prepare to bring basketball ownership to Wall Street amid soaring team valuations.
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AI Exposes The Internet’s Fragile Foundations
- An AI-discovered PHP vulnerability exposed how fragile the internet’s foundations remain, affecting software used by roughly 70% of websites.
- Hackers may already be exploiting the weakness, while the same AI tools could accelerate attacks and create a race with defenders.
Patch PHP Before Hackers Exploit It
- Organisations should urgently patch PHP systems and consider taking websites offline until fixes are complete.
- Australia, the United Kingdom, Finland, the Netherlands and Wikipedia all took precautionary action after the flaw emerged.
One Hidden Flaw Threatened Most Websites
- PHP quietly powers online shops, Wikipedia and WordPress, collecting information and presenting it through websites.
- The flaw allowed attackers to control servers without authentication or steal sensitive data after remaining hidden for more than a decade.