Akamai Failure Triggers Global Internet Downtime On Thursday: Bloomberg

Multiple websites operated by financial institutions, governments, and airlines, including Hong Kong Exchanges & Clearing Ltd and Australia’s central bank, went offline briefly in the second global internet outage on Thursday, Bloomberg reports.

What Happened: Akamai Technologies Inc’s AKAM network glitch affected the likes of Commonwealth Bank of Australia, Westpac Banking Corp WBK, and Australia & New Zealand Banking Group Ltd.

The Reserve Bank of Australia had to cancel a scheduled bond-buying operation due to the glitch. The central bank reportedly adopted workarounds and fixed the website.

Content delivery platform Fastly Inc’s FSLY software failure had triggered an hour-long global outage this month. The outage affected the likes of Amazon.com Inc AMZNShopify Inc SHOP, and Stripe Inc. Fastly quickly identified the issue and fixed it within 46 minutes after acknowledging the problem. Sites were also promptly restored.

Akamai acknowledged the issue and was actively working to restore services as soon as possible.

Website tracker Downdetector.com initially highlighted hundreds of user complaints about outages affecting Southwest Airlines Co LUVDelta Air Lines Inc DAL, and Automatic Data Processing Inc ADP. Vanguard, E-Trade, and Navy Federal Credit Union-operated websites were also affected.

Why It Matters: Many of the websites affected on Thursday recovered within the hour. Some websites recovered after rerouting to other providers. Companies, including Hong Kong’s exchange and Southwest, were investigating the incident. The outage did not affect Southwest’s operations.

Akamai features high-level website and application hosting services that large enterprises use to serve content to millions of users simultaneously.

Fastly’s edge computing model places servers in multiple locations to help websites serve users from the closest physical site. The model reduces the lag time, speeds up page-loading, and distributes the load on individual servers.

Price action: AKAM shares closed lower by 1.26% at $116.69 on Wednesday.

Posted In: BloombergNewsTechMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.