Microsoft outage gums up markets, forces traders to use phones

A major Microsoft global outage affecting Outlook, Teams, and Copilot has disrupted workflows on trading desks and hindered corporate disclosures. According to The Business Times - Companies & Markets and Hindustan Times - World News, the disruption forced UBS Group execution-sales head for Australia and New Zealand, Rita Elkazzi, to use phones and alternative channels to communicate. Elkazzi described the situation as a disaster that requires extra diligence to ensure the accuracy of trade recaps.

The outage has had various regional impacts. In Singapore, traders reported that some banks were unable to complete financing deals, while the Straits Times Business noted that affected banks have directed customers to alternative contact methods like hotlines and relationship managers. The Association of Banks in Singapore advised customers to be cautious of potential phishing attempts and scams during the disruption.

In India, IIFL Capital Services informed clients of potential delays in responding to emailed queries, and Japan’s Ministry of Finance experienced issues with email access.

Economic Times Tech reported that nearly 130,000 users on Downdetector reported problems accessing Outlook just after 1 pm, with many unable to send or receive emails or load their inboxes.

Brief written by urgent.news from Moneyweb, The Business Times - Companies & Markets, Hindustan Times - World News, Straits Times Business, Economic Times Tech — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.