Today in business: 5 things you need to know

Hackers slow down the web, foreclosures fall, and more in our roundup of the business stories that are making news and driving opinion

Steve Cohen
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1. MASSIVE CYBERATTACK SLOWS GLOBAL INTERNET TRAFFIC

Internet connections slowed down across the world on Wednesday due to what online security experts are calling the biggest "distributed denial of service" cyberattack in history. The attacks, which clog up web servers with dummy traffic, was aimed at a nonprofit spam-fighting group called Spamhaus, which operates out of London and Geneva, that has been involved in a battle with Cyberbunker, a Dutch web host that boasts it will host anyone but child pornographers or terrorists. Spamhaus is accusing Cyberbunker of "criminal gangs" in Eastern Europe to swamp its server with six times the phony traffic it takes to knock a bank offline. [BBC News]

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.