Slashdot Mirror

An anonymous reader quotes a report from Bloomberg: The European Union approved its first rules on cybersecurity, forcing businesses to strengthen defenses and companies such as Google Inc. and Amazon.com Inc. to report attacks. The European Parliament endorsed legislation that will impose security and reporting obligations on service operators in industries such as banking, energy, transport and health and on digital operators like search engines and online marketplaces. The law, voted through on Wednesday in Strasbourg, France, also requires EU national governments to cooperate among themselves in the field of network security. The rules "will help prevent cyberattacks on Europe's important interconnected infrastructures," said Andreas Schwab, a German member of the 28-nation EU Parliament who steered the measures through the assembly. EU governments have already supported the legislation. The EU Parliament also noted that network-securitiy incidents resulting from human error, technical difficulties, technical failures or cyberattacks cause annual losses of upwards of $377 billion (340 billion euros).

Lulu Yilun Chen, reporting for Bloomberg: Pole dancing, bungee jumping, a woman eating maggots: at any given hour, millions of Chinese are live-streaming all of this and much more on their smartphones. Crazes come and go at neck-snapping speed in the world's largest online marketplace, but China's live-streaming phenomenon shows staying power and is already a significant business. Tiny startups and internet giants alike are making money selling virtual gifts -- flowers, cars, toys -- to people keen to reward their favorite live-streamers. As the business matures, Alibaba Group Holding Ltd. and others may start selling ads on the most popular streams. "This isn't a fad that will disappear, as the business model has proven to be viable," said Zhu Xiaohu, managing partner at GSR Ventures Management Co., who invested in Inke, one of about 200 live-streaming startups that have attracted an estimated $750 million in venture capital. "But the amount of interest in this sector is so high, bubbles could be forming and many will fail."

Amazon has grabbed more than 15% of Seattle's office space inventory, which a local book author is describing as "the Amazocalypse". And now Amazon is building three "gigantic spheres resembling melted-together Milk Duds in the shadow of their new 500-foot-tall office tower," according to Bloomberg: The 100-foot-tall orbs -- Amazon calls them Biospheres -- will host more than 300 plant species from around the world, creating what the company sees as the workplace of the future. Amazonians will be able to break from their daily labors to walk amid the greenery along suspension bridges and climb into meeting spaces resembling bird nests perched in mature trees... Many of the plants are endangered species, meaning that the spheres double as a conservation project.
Bloomberg talks about the desire of Amazon and other tech companies to stay -- and grow -- in the popular cities "where millennials prefer to live". While the owners of Seattle's Space Needle complain that all the new office towers are blocking views of their tourist attraction, the article also describes how Amazon leased the ground floors of its office buildings to "hand-picked bars, restaurants and coffee shops," transforming it from "a hodgepodge of car dealerships and second-hand stores."

An anonymous reader shares a Bloomberg report:Spanish headhunter Samuel Pimentel just can't find the candidates. After a frustrating search for specialist consultants for a client, he's given up and is casting his net elsewhere. "We were looking for people for two months," Pimentel, a partner at Ackermann Beaumont Group for Spain and Latin America, said in a telephone interview. "We managed to find one in Spain. We turned to Argentina for others." Pimentel's experience reflects a bizarre feature of the Spanish labor market that is hampering the country's efforts to repair the damage from the economic crisis. Even with close to 5 million people out of work, the next prime minister will face labor shortages with employers struggle to find the staff they need. "It's a paradox," said Valentin Bote, head of research in Spain at Randstad, a recruitment agency. "The unemployment rate is too high. Yet we're seeing some tension in the labor market because unemployed people don't have the skills employers demand."

BMW, Intel, and Mobileye NV are working to develop autonomous-car technology, reports Bloomberg, citing multiple sources. Senior executives from each company will hold an event on Friday to discuss the driverless-vehicle initiative, the report adds. From the article:Jerusalem-based Mobileye has been an early leader in providing cameras, software and other components that allow vehicles to see the world around them. BMW has been a client of Mobileye, along with General Motors Co. and Tesla Motors Inc. As automakers and their suppliers race to create systems to replace human drivers, most companies are betting on some form of artificial intelligence, which requires powerful processing.Reuters, citing one source, reports the same thing. The announcement will be a "turning point for the automotive industry," Amnon Shashua, the chairman and co-founder of Mobileye.

Stephanie Bodoni, and Aoife White reporting for Bloomberg Technology (condensed):Facebook won an appeal against a Belgian privacy ruling that prompted the social network to prevent people without an account from accessing its site within the country. The Brussels Court of Appeal said the nation's data protection authority couldn't prevent Facebook from storing data from non-users in a fight over measures the technology giant says help it combat hacking attacks. "Belgian courts don't have international jurisdiction over Facebook Ireland, where the data concerning Europe is processed," the Brussels court of appeal said in a ruling Wednesday, referring to the company's European headquarters. The court also said there was no urgency to rule on the case since Belgian court proceedings only started in mid-2015 over behavior that started in 2012. Facebook is appealing a ruling that ordered it to stop storing data from people who don't have an account with the social network, or face a 250,000 euro ($277,800) daily fine. Willem Debeuckelaere, president of the Belgian data protection commission, said last year that Facebook's "disrespectful" treatment of users' personal data, without their knowledge, "needs tackling." Facebook said it can now start showing its pages to Belgians who aren't signed up to its service.

kheldan writes: Do you want robots making your pizza? Alex Garden, co-founder and executive chairman of Mountain View startup Zume, is betting you will. Garden, the former president of Zynga Studios, was previously a general manager of Microsoft's Xbox Live. Garden launched Zume in stealth mode last June, when he began quietly recruiting engineers under a pseudonym and building his patented trucks in an unmarked Mountain View garage. In September, he brought on Julia Collins, a 37-year-old restaurant veteran. She became chief executive officer and a co-founder. Collins was previously the vice president and CEO of Harlem Jazz Enterprises, the holding company for Minton's, a historic Harlem eatery. The company consists of an army of robot sauce-spreaders and trucks packed full of ovens. "In the back of Mountain View's newest pizzeria, Marta works tirelessly, spreading marinara sauce on uncooked pies. She doesn't complain, takes no breaks, and has never needed a sick day. She works for free." The pie then "travels on a conveyer belt to human employees who add cheese and toppings." From there, "The decorated pies are then scooped off the belt by a 5-foot tall grey automation, Bruno, who places each in a 850-degree oven. For now, the pizzas are fully cooked and delivered to customers in branded Fiats painted with slogans, including: 'You want a piece of this?' and 'Not part of the sharing economy.'" Garden says, "We are going to be the Amazon of food. [...] Just imagine Domino's without the labor component. You can start to see how incredibly profitable that can be."

An anonymous reader writes from a report via Bloomberg: Valve's Counterstrike: Global Offensive game is being sued for its role in the multibillion-dollar gambling economy that has fueled the game's popularity. Michael John McLeod filed a lawsuit Thursday in the U.S. District Court in Connecticut alleging that Valve violated gambling laws and engaged in racketeering with a handful of off-shore gambling companies. McLeod, who has been gambling on CS:GO since 2014, is asking for class-action status for the suit. The suit was first reported by Polygon and doesn't give a specific request for damages, nor does it say how much money he lost by betting on the site. According to Bloomberg: "Valve provided for money, technical support, and advice to such websites as CSGO Lounge and Diamonds, which take bets, and OPSkins, which runs a market where virtual goods are traded and can be redeemed for cash." Valve has yet to respond to the suit.

Tom Randall, reporting for Bloomberg Technology:An experimental cancer treatment that alters the DNA of patients has won a key approval to proceed with its first human tests using the controversial gene-altering tool known as Crispr. Scientists from the University of Pennsylvania want to edit the immune systems of 18 patients to target cancer cells more effectively. The experiment, backed by internet billionaire Sean Parker, won approval from the Recombinant DNA Advisory Committee (RAC), a federal ethics panel set up at the National Institutes of Health 40 years ago to review controversial experiments that change the human genome. The trial still needs final approval from the U.S. Food and Drug Administration. The experiment targets difficult-to-treat cases of multiple myeloma, sarcoma, and melanoma. The scientists will remove blood samples from patients and alter their T-cells -- central to human immune response -- to more effectively target and pursue cancer. The T cells will then be infused back into patients and studied for the safety and effectiveness of the technique.STAT News has an article in which it discusses the probable consequences of altering the DNA of a cancer patient.

HughPickens.com writes: Alan Minter writes at Bloomberg that between 1955 and 1975, the average volume of a container ship doubled -- and then doubled again over each of the next two decades. The logic behind building such giants was once unimpeachable: Globalization seemed like an unstoppable force, and those who could exploit economies of scale could reap outsized profits. But it is looking more and more like the economies of scale for mega-ships are not worth the risk. The quarter-mile-long Benjamin Franklin recently became the largest cargo ship ever to dock at a U.S. port and five more mega-vessels are supposed to follow. But today's largest container vessels can cost $200 million and carry many thousands of containers -- potentially creating $1 billion in concentrated, floating risk that can only dock at a handful of the world's biggest ports. Mega-ships make prime targets for cyberattacks and terrorism, suffer from a dearth of qualified personnel to operate them, and are subject to huge insurance premiums. But the biggest costs associated with these floating behemoths are on land -- at the ports that are scrambling to accommodate them. New cranes, taller bridges, environmentally perilous dredging, and even wholesale reconfiguration of container yards are just some of the costly disruptions that might be needed to receive a Benjamin Franklin and service it efficiently. Under such circumstances, you'd think that ship owners would start to steer clear of big boats. But, fearful of falling behind the competition and hoping to put smaller operators out of business, they're actually doing the opposite. Global capacity will increase by 4.5 percent this year. "Sooner or later, even the biggest operators will have to accept that the era of super-sized shipping has begun to list," concludes Minter. "With global growth and trade still sluggish, and the benefits of sailing and docking big boats diminishing with each new generation, ship owners are belatedly realizing that bigger isn't better."

Joshua Brustein, reporting for Bloomberg: In early March, Kickstarter quietly sent shareholders a dividend. In the wider world of business, such an action would be unremarkable. More than 80 percent of the companies in the S&P 500 pay dividends, and many smaller companies do, too. But divvying up quarterly profits with shareholders is unheard of among tech startups. People who follow the venture capital industry were hard-pressed to come up with a single example of a VC-backed startup that has ever paid regular dividends. Doing so would be a rejection of the industry's basic math. VCs bet that they can find the few companies that will generate enormous payouts by going public or getting acquired; the rest fail. There's not supposed to be anything in between. "It sounds strange for a VC-backed company as it means they're taking out and distributing money versus investing it in the business," said Anand Sanwal, the chief executive officer of research firm CB Insights. Paying a dividend, which the company didn't make public, is just the latest example of Kickstarter's heterodoxy.

Beijing's intellectual property regulator has ordered Apple to stop sales of the iPhone 6 and iPhone 6 Plus in the city, after it found that the design of Apple's iconic smartphone is too similar to a Chinese phone. The aforementioned handsets infringe on a Chinese patent for exterior design held by a company called Shenzhen Baili for its 100C smartphone. From a Bloomberg report: While the decision covers only Beijing, future lawsuits against Apple could take the case as a precedent, potentially influencing the outcomes of litigation elsewhere in China. Baili is one of scores of smartphone brands trying to cash in on the country's mobile boom. [...] "If the position by the Beijing IP office is upheld and Apple doesn't appeal further, then in theory they wouldn't be able to sell the iPhone 6 and iPhone 6 Plus," IP specialist Ted Chwu said. The iPhone 6, and iPhone 6 Plus were launched in 2014. What took them so long?

Lucas123 writes: Renewable energy, including solar, wind and hydroelectric will overtake natural gas as an energy source by 2027. According to a new report from Bloomberg New Energy Finance, ten years later those same renewables will have surpassed the largest electricity-generating fossil fuel: coal. Solar and wind will account for almost 60% of the $11.4 trillion invested in energy over the next 25 years, according to Bloomberg's New Energy Outlook 2016 report. One conclusion that may surprise, Bloomberg noted, is that the forecast shows no golden age for natural gas, except in North America. As a global generation source, gas will be overtaken by renewables in 2027. The electric vehicle boom will increase electricity demand by 2,701TWh (terawatt hours), or 8% of global electricity demand in 2040. The rise of EVs will drive down the cost of lithium-ion batteries, making them increasingly attractive to be deployed alongside residential and commercial solar systems.

An anonymous reader writes from a report via Bloomberg: Bloomberg reports Walmart is working with a robotics company to develop a shopping cart that helps customers find items on their lists and saves them from pushing a heavy cart through a sprawling store and parking lot. The carts are a way for brick-and-mortar stores to stay relevant in the convenience factor to match the likes of Amazon and other online retailers, says founder and chief executive officer of Five Elements Robotics Wendy Roberts. She said on Tuesday at the Bloomberg Technology Conference 2016 that her company was working with the "world's largest retailer" on such a shopping cart. In 2014, Five Elements Robotics introduced Budgee, a personal robot that can follow its user around inside and outdoors and carry things. The robot costs $1,400 and is helpful for people with disabilities, says Roberts.

An anonymous reader writes from a report via The Verge: The biggest manufacturer of the Raspberry Pi minicomputer, Premier Farnell, has been acquired by Swiss industrial component supplier Daetwyler Holding AG for roughly $871 million. According to Bloomberg, the deal will reportedly help both companies compete better in the components market. "By combining forces, we significantly increase our competitiveness and extend our product range," Daetwyler Chairman Ulrich said in a statement, "facilitating a one-stop shopping experience for our wide range of customers from a multitude of industries." Premier Farnell is one of the only companies with a license to design and distribute Raspberry Pis. The Wall Street Journal says the Raspberry Pi devices are a big part of the company's business, as the division in charge of the Pi raked in 16 percent of the company's total revenue last year.

Andrew M Harris and Todd Shields, reporting for Bloomberg: The Federal Communications Commission won a major appeals court ruling supporting its efforts to prevent broadband Internet service providers from favoring some types of web traffic over others. The Washington-based court Tuesday denied challenges to the federal government's so-called net neutrality regulations, which were backed by President Barack Obama. The ruling hands a victory to those who champion the notion of an open internet where service providers are prevented from offering speedier lanes to content providers willing to pay for them. It's a defeat for challengers including AT&T Inc., Verizon Communications Inc. and Comcast Corp., which said the rule would discourage innovation and investment.FCC Chairman Tom Wheeler said, "Today's ruling is a victory for consumers and innovators who deserve unfettered access to the entire web, and it ensures the Internet remains a platform for unparalleled innovation, free expression and economic growth. After a decade of debate and legal battles, today's ruling affirms the Commission's ability to enforce the strongest possible internet protections -- both on fixed and mobile networks -- that will ensure the internet remains open, now and in the future."

An anonymous reader writes: In an effort to hunt for materials, China is planning to build a manned deep-sea platform in the South China Sea. The lab may also serve for military purposes in the disputed waters as well. The lab would be located as much as 3,000 meters (9,800 ft) below sea level, according to a recent Science Ministry presentation viewed by Bloomberg. Bloomberg writes: "The project was mentioned in China's current five-year economic plan released in March and ranked number two on a list of the top 100 science and technology priorities." There are few public details specifying the timeline of the project, any blueprints, costs or where exactly it will be located. China's President Xi Jinping considers more than 80 percent of the waters its sovereign territory. The country has even created several artificial islands in the South China Sea covering 3,200 acres. Last year, the NYT posted a fascinated piece showing clear satellite imagery of the new islands being built.

Google co-founder Larry Page is personally investing in flying cars. Page has been secretly bankrolling Zee.Aero and Kitty Hawk, two California-based startups working on developing a flying car, reports Bloomberg, citing 10 people familiar with the matter. From the report: Better materials, autonomous navigation systems, and other technical advances have convinced a growing body of smart, wealthy, and apparently serious people that within the next few years we'll have a self-flying car that takes off and lands vertically -- or at least a small, electric, mostly autonomous commuter plane. About a dozen companies around the world, including startups and giant aerospace manufacturers, are working on prototypes. Furthest along, it appears, are the companies Page is quietly funding. "Over the past five years, there have been these tremendous advances in the underlying technology," says Mark Moore, an aeronautical engineer who's spent his career designing advanced aircraft at NASA. "What appears in the next 5 to 10 years will be incredible."

An anonymous reader quotes a report from Ars Technica: The Wall Street Journal reports that bids are being accepted for nearly 3,000 Yahoo patents and pending applications. In April, Yahoo moved 2,659 patents into a patent-holding company called Excalibur IP LLC, which was seen as a first step toward a patent sale. "This represents a unique opportunity for companies operating in the Internet industry to acquire some of the most pioneering and foundational patents related to Web search and advertising," Yahoo said in a statement. Those invited to join the auction include "strategic buyers, private-equity firms, and investment firms focused on intellectual property," according to the Journal. Preliminary bids are due by the middle of this month, and the patents are expected to fetch more than $1 billion, according to "people familiar with the matter" who spoke to the Journal. Bloomberg, which also reported on the patent sale, said there was no official reserve price or bidding guidelines. Yesterday, Verizon submitted a $3 billion bid for Yahoo's core internet business. The sale will include 500 U.S. patents and more than 600 pending applications, but will not include the larger collection of patents going in the patent sale.

Samsung plans to launch two smartphones with bendable screens. The South Korean technology conglomerate could showcase these two phones as early as the Mobile World Congress tradeshow next year, according to Bloomberg, which cites sources "familiar with the matter." The publication adds that one of the phones will fold in half like a makeup compact, whereas the other with a 5-inch display would fold out into a larger tablet-style device. From the report: The devices using organic light-emitting diodes could be unveiled as soon as early 2017. That would likely give it a head start on new Apple Inc. iPhones. The second Samsung model will have a 5-inch screen when used as a handset, that unfurls into a display that's as large as 8 inches, similar to a tablet, the people said.As for more immediate future plans, the Galaxy Note 6, which is expected to launch later this year, might ship with the moniker "Note 7". This would allow Samsung to put its flagship phablet's branding in line with its current smartphone numbering. Samsung launched the Galaxy S7 and S7 Edge earlier this year. (Editor's note: Bloomberg website, though very credible, has pop-up videos, which some of you may find annoying. Just in case, here's an alternate source.)

A user shares a report that details General Electric's rethinking of the annual raise. Bloomberg reports: "GE executives are reviewing whether annual updates to compensation are the best response to the achievements and needs of employees. The company may also scrap the longstanding and much-imitated system of rating staff on a five-point scale. Decisions on both issues may come within the next several months, spokesperson Valerie Van den Keybus said by phone." "We uncovered an opportunity to improve the way we reward people for their contributions," GE's head of executive development, Janice Semper, said in an e-mailed response to questions. It will involve "being flexible and re-thinking how we define rewards, acknowledging that employees and managers are already thinking beyond annual compensation in this space." In response to this news, ErichTheRed writes: First it was "stack ranking," the process where GE fires the bottom-rated 20% of the workforce every year. Now, a new HR trend may be brewing at GE that is destined to be copied by MBAs everywhere if it takes hold. Personally, in terms of cargo-cult HR trends, I'd take Google's open office nightmare over this one. What do you think this would do to employment stability if widely enacted? I can definitely see banks rethinking 30 year mortgages, for example...

Ellen Huet, reporting for Bloomberg: WeWork Cos., the $16B startup, plans to cut about 7 percent of its staff and has instituted a temporary pause on hiring, according to e-mails obtained by Bloomberg. The cutbacks come just three months after the New York company said it raised a round of $430 million led by Chinese investors. Managers were instructed to begin dismissals this week, said one of the e-mails. The startup, which lets members rent desks in an open office, ballooned from about 230 employees early last year to more than 1,000 today, according to research firm Mattermark. WeWork said it hired 175 people in May and expects to add about 500 employees by the end of the year. The company said it expects to lift the pause on hiring as soon as next week.

Sales of electric-bike is growing in many parts of the world. Asia-Pacific region, for instance, is estimated to see 32.8M of them sell this year, and 1.6m of e-bikes are expected to be sold in Western Europe by the end of this year. In China, in particular, the ban on motorcyle has lead to massive e-bike adoption. Over the years we've seen many companies such as BG and Pedego dish out models after models, offering bikes ranging from elegant folding versions to flat-tire variants. Despite all the growth elsewhere in the world, North America and Latin America are estimated to see less than 250,000 inventories move this year. But going forward, the number is likely to see a major growth. From a Bloomberg article: Electrics "finally have legs to be able to take off in the U.S.," because cyclists are feeling safer on the roads, battery and motor technology is improving, and retail prices are dropping, says Todd Grant, president of the National Bicycle Dealers Association. However, e-bikes have been banned in some U.S. cities because of safety concerns. [...] The U.S. market could develop "way faster" than Europe's did, says Claus Fleischer, who heads Bosch's e-bike division. The German multinational began selling motors and batteries for electric bikes in 2011 and now supplies more than 60 brands, primarily in Europe. It opened a subsidiary in Irvine, Calif., in 2014 and is sponsoring e-bike expos across the U.S., including one in Portland, Ore., that ran for three days in late May.

An anonymous reader quotes a report from Bloomberg: Tony Fadell is stepping down as head of Nest Labs, just over two tumultuous years after selling the smart-home gadget maker to Google. Fadell will leave Nest immediately and be replaced by Marwan Fawaz, former executive vice president of Motorola Mobility where he served as CEO of Motorola Home, Nest said in a statement. Fadell will still advise Alphabet Inc. and Larry Page, the Google co-founder and chief executive officer of the holding company. Nest took longer than expected to release new products and a smoke and carbon monoxide detector was recalled due to software problems. When the company did release an updated product, the Nest Cam security camera in June 2015, Fadell admitted it had been a "grueling" year. In recent months, Nest employees complained publicly about Fadell's management, while claiming the business had missed sales targets, botched upgrades and delayed future products. Fadell said, "I don't know of any regrets that I have. To do what we do at the level we do it, no one's done it before. So you're bound to make mistakes."

An anonymous reader shares a Bloomberg report: Chile's solar industry has expanded so quickly that it's giving electricity away for free. Spot prices reached zero in parts of the country on 113 days through April, a number that's on track to beat last year's total of 192 days, according to Chile's central grid operator. While that may be good for consumers, it's bad news for companies that own power plants struggling to generate revenue and developers seeking financing for new facilities. The main culprit is the northern part of the country, in the Atacama desert. Chile's increasing energy demand, pushed by booming mine production and economic growth, helped spur the development of 29 solar farms, with another 15 planned, on the country's central power grid. Now the nation faces slowing demand for energy as copper production slows amid a global glut, and those power plants are oversupplying a region that lacks transmission lines to distribute the electricity elsewhere.

Tesla's mammoth 13-acre battery making Gigafactory isn't due to begin production on lithium ion cells until next year, but according to a report on Fortune, the factory's grand opening is to be held on July 29. According to a report on Bloomberg, as of earlier this month, only 14 percent of the Gigafactory has been built so far. Though, Tesla is already utilizing it to produce Powerpacks and Powerwalls. The factory will apparently cost at least $5 billion to make. (Thanks to an anonymous reader for sharing the link.)

An anonymous reader writes from a report via Bloomberg: The Food and Drug Administration cleared the first implant in the U.S. to treat heroin and opioid painkiller addictions. The product, Probuphine, may be used to treat addicts continuously for six months with the drug buprenorphine, according to a statement from the agency on Thursday. Titan Pharmaceuticals Inc. and partner Braeburn Pharmaceuticals are the two companies behind the implant and plan to bring it to the market just as Congress passed a bill aimed at addressing the opioid crisis. Buprenorphine differs from methadone in that it doesn't require a treatment program. Doctors can prescribe the implant to patients after they take a four-hour training program. The FDA rejected the implant in 2013 because the original dose that the companies proposed was too low to provide effective treatment. The companies decided to maintain the lower dose and attempt to gain approval by restricting use to patients who already were stable on such amounts. Meanwhile, employers are struggling to find workers who can pass a pre-employment drug test.

An anonymous reader writes from a report via Bloomberg: The Food and Drug Administration cleared the first implant in the U.S. to treat heroin and opioid painkiller addictions. The product, Probuphine, may be used to treat addicts continuously for six months with the drug buprenorphine, according to a statement from the agency on Thursday. Titan Pharmaceuticals Inc. and partner Braeburn Pharmaceuticals are the two companies behind the implant and plan to bring it to the market just as Congress passed a bill aimed at addressing the opioid crisis. Buprenorphine differs from methadone in that it doesn't require a treatment program. Doctors can prescribe the implant to patients after they take a four-hour training program. The FDA rejected the implant in 2013 because the original dose that the companies proposed was too low to provide effective treatment. The companies decided to maintain the lower dose and attempt to gain approval by restricting use to patients who already were stable on such amounts. Meanwhile, employers are struggling to find workers who can pass a pre-employment drug test.

North Korea could be behind the recent string of digital attacks on Asian banks, says Symantec. The cyber security firms notes that the attacks could be traced as far back as October 2015, two months prior to the earliest known incident. As you may recall, hackers stole around $80M from Bangladesh's central bank in March, and a similar attack was seen at a Vietnamese bank earlier this month. Symantec says that it has found evidence that distinctive malware that was used in both the hacks had strong commonalities with the 2014 Sony Picture breaches. Security firm FireEye also investigated the matter. From a Bloomberg report: Investigators are examining possible computer breaches at as many as 12 banks linked to Swift's global payments network that have irregularities similar to those in the theft of $81 million from the Bangladesh central bank, according to a person familiar with the probe. FireEye, the security firm hired by the Bangladesh bank, has been contacted by the other banks, most of which are in Southeast Asia, because of signs that hackers may have breached their networks, the person said. They include banks in the Philippines and New Zealand but not in Western Europe or the United States. There is no indication of whether money was taken.

An anonymous reader writes: A smaller group of Anonymous, called Anonymous Analytics, reached the conclusion that DDoSing is stupid and never fixes anything, so they decided to use their hacking skills and stock market knowledge to make a difference in another way. For the past years, the group has been compiling market reports on U.S. and Chinese companies and publishing their results. Their reports have been noticed by the stock market, who recently started to react to their findings. The most obvious case was of Chinese lottery machine maker REXLot. The hackers discovered that REXLot inflated its revenue and the amount of cash on its balance sheet, based on the amount of interest earned. "The group published its findings on June 24, 2015, and REXLot stock price plummeted from 0.485 Hong Kong dollar per share to 0.12, before trading was suspended [for ten months]. REXLot rejoined the market on April 18, 2016, this year, but even after submitting a 53-page report, the company stock fell again by 50 percent," reports Softpedia. Anonymous Analytics then published two more reports on the company, urging the market to sell, and two days later, Reuters reported that REXLot did not have enough cash to make due bond payments, which meant the company had to sell assets to repay bonds. Other companies on which the group published market reports include Qihoo 360 and Western Union.

Google is actively tracking the time its partner OEMs take to release a new version of Android onto their devices. According to a Bloomberg report, the company is drawing up rankings that could shame some phone makers into better behavior. From the report: Google shared this list with Android partners earlier this year. It has discussed making it public to highlight proactive manufacturers and shame tardy vendors through omission from the list, two of the people said. [...] Google is making progress persuading phone makers and carriers to install security updates quicker "for the good of users," Android chief Hiroshi Lockheimer said. The same expedited process may then be used to send operating system updates to phones, he explained. The most challenging discussions are with carriers, which can be slow to approve updates because they test them thoroughly to avoid network disruption. The report adds that several OEMs are also stepping up their game to better comply with Google's new wishes. Motorola, for instance, is working on offering quarterly updates to its three years old devices.

For users with non-Nexus devices, it's really frustrating to wait for months, and in some cases, years, before their devices from Samsung, Xiaomi, Huawei, HTC and other manufacturers get upgraded to a newer version of Android. Another challenge for Google is to push its partners to actively release updates to affordable and mid-range smartphones. Many OEMs mostly worry about serving those users who have the flagship and high-end models.

Toyota is working with Segway PT inventor Dean Kamen on advanced wheelchairs for the aged and disabled. Slashdot reader necro81 writes: Most people don't know that the two-wheeled balancing technology was first developed by Kamen's company in the early 2000s for the iBot -- an advanced wheelchair that could climb stairs and curbs, had four-wheel drive, and could balance on its rear wheels... it was also a commercial flop: the iBot was discontinued in 2009 after selling hundreds of units (many still in operation a decade later). Today, however, Toyota announced a partnership with Dean Kamen to upgrade the iBot and bring it back to market.
I wonder if they'll be used in more than just the obvious ways. 15 years after the introduction of the first Segways, Steve Wozniak is participating in the Segway polo world championships (which are named the "Woz Cup" in his honor). And the Australian army once even had a fleet of Segways which they dressed up like enemy soldiers to practice field maneuvers.

An anonymous reader writes: Moody's Investors Service released an analysis Friday that shows Apple, Microsoft, Alphabet, Cisco Systems, and Oracle are sitting on $504 billion, which is roughly 30% of the $1.7 trillion in cash and cash equivalents held by U.S. non-financial companies in 2015. Almost all of their earnings ($1.2 trillion) are stashed overseas in an effort to avoid paying taxes on moving profits back to the U.S. under the country's complex tax code. Apple has more than 90 percent of its money located outside of the U.S., according to its most recent filings. Moody's said in its report that "we expect that overseas cash balances will continue to grow unless tax laws are changed to encourage companies to repatriate money." Some of the other tech and Silicon Valley companies in the top 50 include Intel, Gilead Sciences, Facebook, Amazon, Qualcomm, eBay, Hewlett-Packard and Yahoo.

In an attempt to keep its citizens from seeing bad news and getting involved in sensitive political debates, China's government fabricates about 488 million social media comments a year, reports Bloomberg citing a study (PDF). The propaganda workers who post comments are known as Fifty Cent Party because they are believed to be paid 50 Chinese cents by the Chinese government for every comment they post. From the report: Although those who post comments are often rumored to be ordinary citizens, the researchers were surprised to find that nearly all the posts were written by workers at government agencies including tax and human resource departments, and at courts. The researchers said they found no evidence that people were paid for the posts, adding the work was probably part of the employees' job responsibilities. Fifty Cent Party is a derogatory term since it implies people are bought off cheaply. About half of the positive messages appear on government websites, and the rest are injected into the 80 billion social media posts that enter China's Internet. That means one of every 178 social media posts on China's micro blogs is made up by the government, the researchers said. The sites affected include those run by Tencent Holdings Ltd., Sina Corp. and Baidu Inc.

An anonymous reader writes: Twitter will stop counting photos and links as part of its 140-character limit for tweets in as soon as two weeks, according to a source familiar with the matter. Right now, links take up 23 characters, even after Twitter automatically shortens them. In January, the Chief Executive Officer Jack Dorsey said the company was looking for new ways to display text on Twitter, and would experiment based on how people use the service. The company considered raising the limit of characters to as many as 10,000. The reason it abides by a 140-character limit is because it allows for tweets to be sent within a mobile text message, which was a common form of sending tweets back in 2006 when the site debuted. Earlier this month, it was reported Twitter blocked U.S. intelligence agencies from having access to a widely used data mining service it partly owns.

An anonymous reader quotes a report from Bloomberg: Apple Inc. invested $1 billion in Chinese ride-sharing service Didi, making one of its biggest bets on software and services and dealing a blow to Uber Technologies Inc.'s ambitions in the country. The iPhone maker will help Uber's largest rival build up a ride-sharing platform that handles more than 11 million rides a day and serves about 300 million users across China, Didi said in a statement on Friday. Executive Officer Tim Cook has highlighted higher-margin services as a growth area and suggested he would use some of its $200 billion-plus cash hoard for investments. The investment in one of China's largest online companies will allow Apple to forge alliances in its single largest market outside of the United States. Didi, incorporated as Xiaoju Kuaizhi Inc., is in the process of raising more than $2 billion at a valuation of about $25 billion, people familiar with the matter have said. It operates in 400 Chinese cities and works with more than 14 million Chinese car owners. The company is Uber's most potent rival and has formed an international coalition with Lyft Inc. in the U.S., India's Ola and Southeast Asia's Grab to fight the globally expanding San Francisco firm. Apple is hoping to reinvigorate lackluster iPhone sales in China with its $1 billion investment in Didi. The last big investment the company made was when it acquired Beats for $3 billion in 2014.

An anonymous reader shares a report on Bloomberg: Chinese technology giant Huawei is preparing for a world where people live forever, dead relatives linger on in computers and robots try to kill humans. Kevin Ho, president of its handset product line said his company used science fiction movies like "The Matrix" to envision future trends and new business ideas. "Hunger, poverty, disease or even death may not be a problem by 2035, or 25 years from now," he said. "In the future you may be able to purchase computing capacity to serve as a surrogate, to pass the baton from the physical world to the digital world." He described a future where children could use apps like WeChat (Editor's note: WeChat is a popular instant messaging app in China and other Asian markets) to interact with dead grandparents, thanks to the ability to download human consciousness into computers.For those unaware, Huawei is a major Chinese conglomerate. The company, known for its network equipment, last year got some spotlight for its Nexus 6P smartphone.

An anonymous reader writes from a report via Bloomberg: FBI Director James Comey said the FBI is exploring how to make broader use of the hack, used to access a San Bernardino terrorist's encrypted iPhone, while bracing for a larger battle involving encrypted text messages, e-mails and other data. The tool could "in theory be used in any case where there's a court order" to access data on an iPhone 5c running Apple's iOS 9 OS, Comey told reporters in Washington on Wednesday. However, accessing content on a phone, known as "data at rest," is only part of the challenge that encryption poses for U.S. investigators. Software applications and other services that encrypts texts, e-mails and other information in transit over the Internet, known as "data in motion," are "hugely significant," especially for national security investigations, Comey said. He said criminals are increasingly using services that encrypt data in motion, and he didn't rule out litigation against companies such as WhatsApp. "WhatsApp has over a billion customers, overwhelmingly good people," Comey said. "But in that billion customers are terrorists and criminals, and so that now ubiquitous feature of all WhatsApp products will affect both sides of the house." As for whether or not there will be litigation against WhatsApp down the road, Comey says, "I don't know." The FBI is trying to figure out how to allow "law enforcement around the country with court orders to be able to use our tool," Comey said. It's "tricky," he said, because using the tool to help state and local criminal investigations could mean that it would have to be revealed in a court preceding if there isn't a procedure in place to prohibit testimony about how it works.

An anonymous reader writes: Netflix knows their customers hate ads. "We know one of the benefits of an ecosystem like Netflix is its lack of advertising," Howard Shimmel, a chief research officer at Time Warner, told Bloomberg last year. "Consumers are being trained there are places they can go to avoid ads." In response to Netflix's advertising policy, many networks have actually cut back on the amount of ads they show in an effort to lure back in the younger Netflix generation. CordCutting.com crunched some numbers and found that each Netflix subscriber saves themselves about 158.5 hours of commercials per year. Here is how they figured that out: "First, it took Netflix's recent 75 million subscriber mark. Then, it combined that with a quote from CEO Reed Hastings that said subscribers stream 125 million hours every day. That means every subscriber streams about 1 2/3 hours per day. Then it looked at Nielsen data, which showed that the typical hour of cable TV includes 15 minutes and 38 seconds of commercials. If you combine that with the Netflix subscriber data, then you get that each subscriber avoids around 158.5 hours per year of commercials -- if they were watching Netflix instead of cable TV," writes Nathan McAlone via Business Insider.

Spencer Soper, writing for Bloomberg (edited and condensed): Amazon will let people post videos to its website and earn money from advertising, royalties and other sources, putting the company in more-direct competition with Google's YouTube. Amazon already offers movies and television programs over the Internet -- including its own original productions -- to compete with Netflix. The new product dubbed Video Direct will let Amazon give consumers more options about what to watch without an upfront fee because many of those posting videos will be paid based on how their content performs. Competing streaming services have been driving up the cost of this material. Amazon used a similar strategy to boost its inventory of electronic books through Kindle Direct Publishing, which lets authors bypass traditional publishers and reach readers directly by posting and selling their own e-books online. The Seattle-based e-commerce giant said the service is designed for "professional video producers," but its only requirements are that the videos be high definition and have closed-captioning for the hearing impaired.The company is offering 15 cents for every hour of viewing a video creator's content via Prime Video in the U.S, and six cents an hour for views outside of the U.S. Content creators can also allow Amazon to show their videos to any visitor for free. In such case, Amazon says it is offering 55 percent of all ad revenue their clips generate. Content creators can also sell their videos via its subscription service, or its rental its store -- in which case, Amazon will offer 50 percent of the revenue. YouTube has been long criticized for paying less to YouTube creators, forcing many to leave the platform, or look for alternate revenue channels.

Vellum's James has written about his ordeal with Apple Music which many people can relate to. Apple Music, the Cupertino-based giant's online music streaming service, deleted 122GB of music files that James had stored on his computer. He writes: What Amber (supposed Apple Support representative) explained was exactly what I'd feared: through the Apple Music subscription, which I had, Apple now deletes files from its users' computers. When I signed up for Apple Music, iTunes evaluated my massive collection of Mp3s and WAV files, scanned Apple's database for what it considered matches, then removed the original files from my internal hard drive. REMOVED them. Deleted. If Apple Music saw a file it didn't recognize -- which came up often, since I'm a freelance composer and have many music files that I created myself -- it would then download it to Apple's database, delete it from my hard drive, and serve it back to me when I wanted to listen, just like it would with my other music files it had deleted. This isn't the first time Apple Music has deleted a user's locally stored music files. Long-time Apple watcher Jim Dalrymple canceled his subscription last year and called Apple Music a "nightmare" after the service allegedly deleted over 4,700 of his previously bought songs. At the time, he wrote: At some point, enough is enough. That time has come for me -- Apple Music is just too much of a hassle to be bothered with. Nobody I've spoken at Apple or outside the company has any idea how to fix it, so the chances of a positive outcome seem slim to none.Incidentally, Apple Music is rumoured for a reboot at the company's developer conference in June. It's not clear if fixing the aforementioned glitch is among Apple's imminent agenda.

An anonymous reader quotes a report from Bloomberg: YouTube is working on a paid subscription service called Unplugged that would offer customers a bundle of cable TV channels streamed over the Internet, people familiar with the plan said. The project, for which YouTube has already overhauled its technical architecture, is one of the online video giant's biggest priorities and is slated to debut as soon as 2017, one of the people said. YouTube executives have discussed these plans with most major media companies, including Comcast Corp.'s NBCUniversal, Viacom Inc., Twenty-First Century Fox Inc. and CBS Corp., but have yet to secure any rights, said the people, who asked not to be identified because the talks are private. There are reportedly several different ways YouTube could package TV channels in the service. "In one scenario, it would build a bundle of channels with the four U.S. broadcast networks and a smattering of popular cable channels, a concept known in the industry as a skinny bundle," reports Bloomberg. "YouTube has also discussed offering a collection of less-watched TV channels and creating smaller groups of channels around themes. A YouTube Unplugged comedy bundle might include three or four TV channels such as Comedy Central, while a lifestyle bundle might include the Style Network." Apparently, sources familiar with the matter said YouTube would charge one subscription for the main bundle, and extra, smaller monthly fees for said theme-based groups.

Anna Hirtenstein, reporting for Bloomberg: Solar power set another record-low price as renewable energy developers working in the United Arab Emirates shrugged off financial turmoil in the industry to promise projects costs that undercut even coal-fired generators. Developers bid as little as 2.99 cents a kilowatt-hour to develop 800 megawatts of solar-power projects for the Dubai Electricity and Water Authority, the utility for the Persian Gulf emirate. That's 15 percent lower than the previous record set in Mexico last month, according to Bloomberg New Energy Finance. The lowest priced solar power has plunged almost 50 percent in the past year. Saudi Arabia's Acwa Power International set a record in January 2015 by offering to build a portion of the same Dubai solar park for power priced at 5.85 cents per kilowatt-hour. Records were subsequently set in Peru and Mexico before Dubai reclaimed its mantel as purveyor of the world's cheapest solar power. "This bid tells us that some bidders are willing to risk a lot for the prestige of being the cheapest solar developer," said Jenny Chase, head of solar analysis at BNEF. "Nobody knows how it's meant to work."

An anonymous reader writes: Google and Fiat Chrysler were in "late stage talks" last week about working out a partnership where the two could build some self-driving cars together. Google has the tech available -- it just needs to partner with a car manufacturer, as Google hasn't mass-produced a car before, and could use the experience. A report coming out of Bloomberg says the two companies could be putting Google's autonomous driving technology into some prototypes of the upcoming Pacifica minivan. The report says Fiat Chrysler is looking to equip their upcoming plug-in hybrid Pacifica with Google's autonomous technology. Google could still work out a deal with Ford, which was rumored a few months ago, and they have been reportedly in talks with General Motors, but the deal with Chrysler could be signed as soon as today.

hackingbear writes: China's Internet regulator said on Monday it will send a team to investigate Baidu Inc over the death of a university student who used the Chinese search engine to look for treatment for his rare cancer, and to find an experimental treatment offered by the Second Hospital of Beijing Armed Police Corps, which eventually proved ineffective. Before dying, Wei accused Baidu online of promoting false medical information, as well as the hospital for misleading advertising in claiming a high success rate for the treatment, state radio said. The post attracted a large public outcry. Baidu says around one quarter of its revenues come from medical and health-care advertisers.

Eric Newcomer, reporting for Bloomberg: A new crop of startups are trying to make gas stations obsolete. Tap an app, and they'll bring the gas to you, filling up your car while you're at work or at home. Filld, WeFuel, Yoshi, Purple and Booster Fuels have started operating in a few cities including San Francisco, Los Angeles, Palo Alto, Nashville, Tennessee, and Atlanta, Georgia. But officials in some of those cities say that driving around in a pickup truck with hundreds of gallons of gasoline might not be safe. "It is not permitted," said Lt. Jonathan Baxter, a spokesman for the San Francisco fire department, adding that if San Francisco residents see any companies fueling vehicles in the city, they should call the fire department. "We haven't talked to them. I don't know about that. It's news to me," said Nick Alexander, co-founder of Yoshi. "You can never ask for permission because no one will give it," said Chris Aubuchon, the chief executive officer at Filld. The Los Angeles Fire Department said it's drafting a policy around gasoline delivery. "Our current fire code does not allow this process; however, we are exploring a way this could be allowed with some restrictions," said Capt. Daniel Curry, a spokesman for the city's fire department.

Eric Newcomer, reporting for Bloomberg: A new crop of startups are trying to make gas stations obsolete. Tap an app, and they'll bring the gas to you, filling up your car while you're at work or at home. Filld, WeFuel, Yoshi, Purple and Booster Fuels have started operating in a few cities including San Francisco, Los Angeles, Palo Alto, Nashville, Tennessee, and Atlanta, Georgia. But officials in some of those cities say that driving around in a pickup truck with hundreds of gallons of gasoline might not be safe. "It is not permitted," said Lt. Jonathan Baxter, a spokesman for the San Francisco fire department, adding that if San Francisco residents see any companies fueling vehicles in the city, they should call the fire department. "We haven't talked to them. I don't know about that. It's news to me," said Nick Alexander, co-founder of Yoshi. "You can never ask for permission because no one will give it," said Chris Aubuchon, the chief executive officer at Filld. The Los Angeles Fire Department said it's drafting a policy around gasoline delivery. "Our current fire code does not allow this process; however, we are exploring a way this could be allowed with some restrictions," said Capt. Daniel Curry, a spokesman for the city's fire department.

Just a word of caution: the next time you spot a great deal on a shopping portal, you will want to carefully look for all the radio buttons, and tick boxes -- and perhaps also skim through the ToS -- before placing the order. Bloomberg has an in-depth piece on the ordeal of a customer who purchased a lingerie item from an e-commerce website called Adore Me. Little did the customer know that the $19.95 she was spending to purchase a piece of cloth would end up costing her -- partly because of her own ignorance -- more than $300. Adore Me, you see, maintains a subscription model in which it charges users a fee of around $40 a month, even if they don't purchase anything. It might surprise many, but Adore Me isn't the only shopping portal or service that runs this sort of tactic. "It's the new thing," says Francisca Allen, the deputy district attorney of California's Santa Clara County. "There's thousands and thousands of companies that do this." What's more, these companies have made it frustratingly difficult to cancel these subscriptions -- it often requires you to sit through a one-hour call to the customer representative and listening to a bunch of funky songs that you suddenly don't adore as much. Bloomberg reports:Hundreds of customer complaints against Adore Me and other subscription e-commerce businesses are stacking up at the Federal Trade Commission, according to records obtained by Bloomberg. They follow a pattern: Shoppers believe they've been tricked into signing up for recurring credit card charges, often for a relatively small amount that can be easily overlooked in a monthly bill. Then companies make it an exasperating hassle to quit and get a refund.

An anonymous reader shares a Bloomberg article: German Chancellor Angela Merkel's government reached a deal with automakers to jointly spend 1.2 billion euros ($1.4 billion) on incentives to boost sluggish electric-car sales. Buyers will be able to receive as much as 4,000 euros in rebates to help offset the higher price of an electric vehicle, Finance Minister Wolfgang Schaeuble said at a press conference in Berlin. Purchasers of hybrid cars will get as much as 3,000 euros off the price. The industry will shoulder 50 percent of the cost. The program is set to start in May, pending approval from the German parliament's budget committee, he said. "The goal is to move forward as quickly as possible on electric vehicles," Schaeuble told reporters, adding that the aim is to begin offering the incentives next month. "With this, we are giving an impetus."

Long time reader schwit1 writes: The Defense Advanced Research Projects Agency (DARPA), an agency within the Department of Defense historically known for creating the Internet itself, has published a call for companies to submit proposals to build a robust messaging platform that the military could use for secure communication of everything from intelligence to procurement contracts. "Troops on the ground in denied communications environments would have a way to securely communicate back to HQ and DoD back office executives could rest assured that their logistics system is efficient, timely and safe from hackers," according to the DARPA proposal. The request for proposals, reported earlier by the UK's Telegraph outlet, also says that the messaging platform should incorporate a customized blockchain, the distributed ledger technology that underpins the digital currency bitcoin, for recording messages and contract information. The proposal says such a distributed ledger would allow the military to conduct its business in a more efficient and secure fashion.Motherboard's Lorenzo Franceschi-Bicchierai reports that DARPA is willing to pay people to make this app. "This project falls under the rules of the Small Business Technology Transfer (STTR) program. During the first phase, according to the program's rules, successful applicants might be awarded no more than $150,000 for one year. The companies and researchers who are part of phase one can then be eligible for a phase two award of up to $1 million for two years. Lastly, during phase three, the company or companies can pursue commercialization, and receive no funds from the federal government."