The two governments will set up cyber cells on both sides of the Atlantic to share information.
It is reported that the cooperation between Britains GCHQ eavesdropping agency and the US National Security Agency will include joint war games, with the first exercise later in 2015 to involve the Bank of England and commercial banks in both the City of London and Wall Street.
The UK Prime Minister David Cameron said he also planned to discuss with Obama how the two countries could work more closely with internet companies such as Facebook and Google to monitor communications between terror suspects.
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