NSA surveillance hurting tech firms' business
It used to be that tech titans such as Cisco Systems and IBM could bank on fertile markets in Asia and Europe in their quest for worldwide financial domination. Not so much anymore. The National Security Agency, and revelations about its extensive surveillance operations -- sometimes with the cooperation of tech firms -- have undermined the ability of many US companies to sell products in key foreign countries, creating a fissure with the US government and prompting some to scramble to create "NSA-resistant" products. The fallout could cost the tech industry billions of dollars in potential contracts, which has executives seething at the White House. The Information Technology & Innovation Foundation estimates the NSA imbroglio will cost US businesses $22 billion through 2016. Forrester Research pegs potential losses at $180 billion, which includes tech firms and managed service providers.