Domain: bloomberg.com
Stories and comments across the archive that link to bloomberg.com.
Stories · 1,477
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Tesla To Voluntarily Recall Every Model S Because One Seat Belt Came Apart (jalopnik.com)
An anonymous reader writes: Earlier this month, a passenger in a Tesla Model S turned to talk to people in the back seat, and her seat belt somehow disconnected itself from the front seat. According to a Tesla spokesperson, "The seat belt is anchored to the outboard lap pretensioner through two anchor plates that are bolted together. The bolt that was supposed to tie the two anchors together wasn't properly assembled." Though the company hasn't been able to replicate the issue on any other cars, Tesla is issuing a recall for roughly 90,000 Model S vehicles so they can test that bolt. -
It's Way Too Easy To Hack the Hospital (bloomberg.com)
schwit1 sends along a lengthy piece from Bloomberg about the chaos currently surrounding medical device security: The Mayo Clinic had assembled an all-star team of about a dozen computer jocks, investigators from some of the biggest cybersecurity firms in the country, as well as the kind of hackers who draw crowds at conferences such as Black Hat and Def Con. The researchers split into teams, and hospital officials presented them with about 40 different medical devices. Do your worst, the researchers were instructed. Hack whatever you can.
Like the printers, copiers, and office telephones used across all industries, many medical devices today are networked, running standard operating systems and living on the Internet just as laptops and smartphones do. Like the rest of the Internet of Things—devices that range from cars to garden sprinklers—they communicate with servers, and many can be controlled remotely. As quickly became apparent to Rios and the others, hospital administrators have a lot of reasons to fear hackers. For a full week, the group spent their days looking for backdoors into magnetic resonance imaging scanners, ultrasound equipment, ventilators, electroconvulsive therapy machines, and dozens of other contraptions. The teams gathered each evening inside the hospital to trade casualty reports.
"Every day, it was like every device on the menu got crushed," Rios says. "It was all bad. Really, really bad." The teams didn't have time to dive deeply into the vulnerabilities they found, partly because they found so many—defenseless operating systems, generic passwords that couldn't be changed, and so on.
Sooner or later, hospitals would be hacked, and patients would be hurt. He'd gotten privileged glimpses into all sorts of sensitive industries, but hospitals seemed at least a decade behind the standard security curve. "Someone is going to take it to the next level. They always do," says Rios. "The second someone tries to do this, they'll be able to do it. The only barrier is the goodwill of a stranger." -
TV Networks Cutting Back On Commercials (bloomberg.com)
An anonymous reader writes: Cable providers aren't the only ones feeling pressure from cord cutters. The TV networks themselves are losing viewers the same way. A lot of those viewers are going to Netflix and other streaming services, which are often ad-free, or have ad-free options. Now, in an effort to win back that audience (and hang on to the ones who are still around), networks are beginning to cut back on commercial time during their shows. "Time Warner's truTV will cut its ad load in half for prime-time original shows starting late next year, Chief Executive Officer Jeff Bewkes said last week on an earnings call. Viacom has recently slashed commercial minutes at its networks, which include Comedy Central and MTV. Earlier this month, Fox said it will offer viewers of its shows on Hulu the option to watch a 30-second interactive ad instead of a typical 2 1/2-minute commercial break. Fox says the shorter ads, which require viewers to engage with them online, are more effective because they guarantee the audience's full attention." -
Massive Hacking Ring Stole Data From 100 Million Bank Customers (bloomberg.com)
An anonymous reader writes: Court documents unsealed yesterday tie together cybersecurity breaches at several different banks and financial institutions as being caused by the same group of criminals. "Hackers and conspirators in more than a dozen countries generated hundreds of millions of dollars in illicit proceeds on pump-and-dump stock schemes and particularly lucrative online gambling, prosecutors said. From 2012 to mid-2015, the suspects and their co-conspirators successfully manipulated dozens of publicly traded stocks, sent misleading pitches to clients of banks and brokerages whose e-mail addresses they'd stolen, and profited by using trading accounts set up under fake names, prosecutors said." The attacks were spread across 75 different companies in nations across the globe, and included collusion with corrupt government officials who ignored the problem. U.S. Attorney Preet Bharara said, "By any measure, the data breaches at these firms were breathtaking in scope and in size." -
Volkswagen Emissions Issues Spread To Gasoline Cars (bloomberg.com)
schwit1 writes: Just a day after news broke that Volkswagen's emissions scandal had expanded to its Porsche unit and Audi SUVs, the company has disclosed yet another problem, this time affecting carbon dioxide levels emitted by their cars. "Volkswagen said an internal probe showed 800,000 cars had "unexplained inconsistencies" concerning their carbon-dioxide output. Previously, the automaker estimated it would need to recall 11 million vehicles worldwide — more than Volkswagen sold last year." This batch of cars includes a small number of gasoline engines. Until now, only diesel engines were part of the problem. -
Vodafone Attack Hits Nearly 2000 Customer Accounts (asiaone.com)
Bloomberg reports that "about 1800" customers of UK telecoms company Vodafone had their account information compromised by attacks this weekend: "Hackers may have potentially gained access to Vodafone customers’ names, phone numbers and the last four digits of their bank account numbers. A 'handful' of customers have been subject to fraudulent attempts on their accounts, Vodafone said." (Also at the BBC.) -
Pentagon Picks Northrop Grumman For Next Gen Bomber (theatlantic.com)
retroworks writes: The B-52s currently in use have been flown by three generations of American Air Force pilots. B1s and B-2 Bombers are also long in the tooth. The Pentagon has been looking for a new model to replace them, and Northrop Grumman has won for the next half-century with a major new order for state-of-the-art bomber aircraft. The bomber will be capable of carrying nuclear weapons, and the contract is worth almost $60 billion. The Atlantic reports, "While the current fleet remains useful, the Air Force wants a bomber that can evade the advancing air defenses of Russia and China—if ever the need arises. The long-range bomber would act as a deterrent against actions designed to keep U.S. forces out of a designated area—what the military calls 'anti-access aerial denial.'" -
Oklahoma Earthquakes Are a National Security Threat (bloomberg.com)
An anonymous reader writes: A Bloomberg article makes the case that the U.S. must consider the earthquake situation in Oklahoma a national security threat. The town of Cushing, OK is small — fewer than 10,000 people. But enough oil is stored there at times to eclipse the entire U.S. daily usage. "The oil in Cushing props up the $179 billion in West Texas Intermediate futures and options contracts traded on the New York Mercantile Exchange." In the wake of the September 11th attacks, government officials posted guards near the giant storage facilities; they're that important to the U.S. economy.
Unfortunately, the rising seismic activity in Oklahoma is putting those tanks at risk. The article argues that if a terrorist attack would threaten national security, so must an equally devastating natural disaster. This raises major questions for the legality of fracking, which has been linked to the increased number of earthquakes striking Oklahoma over the past decade. "Last month the Oklahoma Corporation Commission, which oversees oil and gas, ordered wells within three miles to shut down entirely and those between three and six miles from the town to reduce their volume by 25 percent." -
The Polymath: Lowell Wood Is America's New Top Inventor (bloomberg.com)
pacopico writes: It's taken more than 80 years, but someone has finally overtaken Thomas Edison as America's top inventor. The dude is named Lowell Wood; he was once behind the infamous 'Star Wars' space laser project, and he was a protege of Edward Teller. On July 7th, he received his 1,085th patent, breaking Edison's record. The article says he has 3,000 more inventions awaiting review at the patent office. Wood seems to be using his powers more for good these days and has become the right hand inventor for Bill Gates and his philanthropic endeavors. He's making efficient nuclear reactors, universal vaccines and anti-concussion football helmets. Quite the life.
"Wood attributes his ability to hop from subject to subject, making associations that sometimes lead to inventions, to reading—a lot. He subscribes to three dozen academic journals. 'I have a terrible deficiency of willpower once I open an electronic table of contents for Physical Review Letters or the New England Journal of Medicine,' he says. 'It's just terribly difficult to pull myself away from them. There will be these three articles that I absolutely have to read before I can turn loose of this thing. If I don't read them, I'm doomed. I'll never come back to them because there will be the next day's journals and the ones after that.'" -
Wind Power Now Cheapest Energy In UK and Germany; No Subsidies Needed
Socguy writes: Bloomberg reports wind power has now crossed the threshold to become the cheapest source of energy in both the UK and Germany. This is notable because it's the first time this has occurred in a G7 country. In the U.S., wind and solar are still massively overshadowed by the power generated from fossil fuel plants, but the percentage is creeping up. It's gotten to the point where it's starting to affect the lifetime profitability of new plants. -
Advertising Malware Affects Non-Jailbroken iOS Devices
An anonymous reader writes: Malware called YiSpecter is infecting iOS devices belonging to Chinese and Taiwanese users, and is the first piece of malware that successfully targets both jailbroken and non-jailbroken devices, Palo Alto Networks researchers warn. What's more, the techniques it uses for hiding are making it difficult to squash the infection. YiSpecter's malicious apps were signed with three iOS enterprise certificates issued by Apple so that they can be installed as enterprise apps on non-jailbroken iOS devices via in-house distribution. Through this kind of distribution, an iOS app can bypass Apple's strict code review procedures and can invoke iOS private APIs to perform sensitive operations. -
Uber Raided By Dutch Authorities, Seen As 'Criminal Organization'
An anonymous reader writes: Uber offices in Amsterdam have been raided by Dutch authorities, as reported by several local media sources (Google translation of original in Dutch). This follows intimidatory deterrence practices earlier in The Netherlands, with Uber drivers being fined in the past months, and fresh allegations that the company would act as a "criminal organization" by offering a platform for taxi rides without license (read: without the authorities earning money from the practice). Time for tech companies to consider moving their European offices elsewhere? Uber's lawyers must be incredibly busy. Proposed regulations in London would effectively end the company's service there, while the mayor of Rio de Janeiro said he would ban Uber's operations outright. They're receiving mixed messages from Australia — just a day after running afoul of regulations in New South Wales, the Australian Capital Territory is moving to legalize it. -
Targeting Tools Help Personalize TV Advertising
schwit1 writes: Surgical marketing messages are taken for granted on the Internet. Yet, they are just now finding their way onto television, where the audience is big though harder to target. As brands shift more of their spending to the Web where ads are more precise, the TV industry is pushing back. Using data from cable set-top boxes that track TV viewing, credit cards and other sources, media companies including Comcast's NBCUniversal, Time Warner's Turner, and Viacom are trying to compete with Web giants like Google and Facebook and help marketers target their messages to the right audience. Where can I get adblock for my FiOS? -
Meet the Michael Jordan of Sport Coding
pacopico writes: Gennady Korotkevich — aka Tourist — has spent a decade ruling the world of sport coding. He dominates TopCoder, Codeforces and just about every tournament sponsored by the likes of Google and Facebook. Bloomberg has profiled Korotkevich's rise through the sport coding ranks and taken a deep look at what makes this sport weirdly wonderful. The big takeaway from the piece seems to be that sport coding has emerged as a way for very young coders to make names for themselves and get top jobs — sometimes by skipping college altogether. -
Russia's Plan To Crack Tor Crumbles
mspohr writes: It looks like Russia's effort to crack Tor was harder than they anticipated. The company that won the contract is now trying to get out of it. Bloomberg reports: "The Kremlin was willing to pay 3.9 million rubles ($59,000) to anyone able to crack Tor, a popular tool for communicating anonymously over the Internet. Now the company that won the government contract expects to spend more than twice that amount to abandon the project. The Central Research Institute of Economics, Informatics, and Control Systems—a Moscow arm of Rostec, a state-run maker of helicopters, weapons, and other military and industrial equipment—agreed to pay 10 million rubles ($150,000) to hire a law firm tasked with negotiating a way out of the deal, according to a database of state-purchase disclosures. Lawyers from Pleshakov, Ushkalov and Partners will work with Russian officials on putting an end to the Tor research project, along with several classified contracts, the government documents say." -
Bitcoin Is Officially a Commodity
Taco Cowboy writes: According to the Commodity Futures Trading Commission (CFTC), Bitcoin and other all virtual currencies have been officially categorized as commodities, just like crude oil or wheat. The CFTC on Thursday announced it had filed and settled charges against a Bitcoin exchange for facilitating the trading of option contracts on its platform.
By this action, the CFTC asserts its authority to provide oversight of the trading of cryptocurrency futures and options, which will now be subject to the agency's regulations. In the event of wrongdoing, such as futures manipulation, the CFTC will be able to bring charges against bad actors. If a company wants to operate a trading platform for Bitcoin derivatives or futures, it will need to register as a swap execution facility or designated contract market, just like the CME Group. And Coinflip—the target of the CFTC action—is hardly the only company that provides a platform to trade Bitcoin derivatives or futures In other Bitcoin news, reader McGruber notes that the CFO of BitPay, a Bitcoin payment service, was successfully phished, costing the company $1.8 million worth of Bitcoins. The company is attempting to recover the money from its insurer. -
Bitcoin Is Officially a Commodity
Taco Cowboy writes: According to the Commodity Futures Trading Commission (CFTC), Bitcoin and other all virtual currencies have been officially categorized as commodities, just like crude oil or wheat. The CFTC on Thursday announced it had filed and settled charges against a Bitcoin exchange for facilitating the trading of option contracts on its platform.
By this action, the CFTC asserts its authority to provide oversight of the trading of cryptocurrency futures and options, which will now be subject to the agency's regulations. In the event of wrongdoing, such as futures manipulation, the CFTC will be able to bring charges against bad actors. If a company wants to operate a trading platform for Bitcoin derivatives or futures, it will need to register as a swap execution facility or designated contract market, just like the CME Group. And Coinflip—the target of the CFTC action—is hardly the only company that provides a platform to trade Bitcoin derivatives or futures In other Bitcoin news, reader McGruber notes that the CFO of BitPay, a Bitcoin payment service, was successfully phished, costing the company $1.8 million worth of Bitcoins. The company is attempting to recover the money from its insurer. -
Nintendo Names Tatsumi Kimishima As New President
RogueyWon writes: Following the death of Satoru Iwata in July, Nintendo has announced the appointment of Tatsumi Kimishima as its new president. The 65-year-old Mr. Kimishima has been serving as Nintendo's human resources director (PDF), following a previous stint as the CEO of Nintendo of America and earlier work on the management of the Pokémon franchise. Kimishima takes up post at a time of considerable change for Nintendo, with the company beginning a tentative step into the mobile games market and preparing for the launch of a new console, codenamed "NX", in 2016. -
Big Pharma Hands Out Fitbits To Collect Better Personal Data
An anonymous reader writes: Since the dawn of modern medicine, there have really only been two ways to know what a medical patient is doing: A) keep them around and monitor them, or B) ask them. The first is often impractical, and the second is fraught with misreporting. However, we're now in the age of data collection, and medical data is no exception. Pharmaceutical companies are gleefully passing out Fitbits and other wearables so they can more accurately test the drugs they make. Early trials have already found such devices to be better than human memory at reporting things like how much a patient walks. Other organizations are using movement data to algorithmically decide whether a patient needs a higher level of treatment. The article optimistically adds, "Down the line, wearables also could help pharmaceutical makers prove to insurance companies that their treatments are effective, thus reducing health costs." -
Microsoft Resurrects the Title of President
theodp writes: Microsoft CEO Satya Nadella promoted General Counsel Brad Smith to president and chief legal officer Friday, the first time Microsoft has had a company-wide president since 2002. Smith has been Microsoft's point person on convincing Congress of America's tech-worker shortage, an assertion that is disputed by others. At a 2012 forum on STEM education and immigration reform, Smith discussed "producing a crisis" to galvanize action on Microsoft's National Talent Strategy, which calls for increasing the number of H-1B visas to ostensibly make up for U.S. children's lack of CS-savvy. Coincidentally, a real national K-12 CS and tech immigration crisis emerged shortly thereafter, thanks to the efforts of new deep-pocketed nonprofit organizations like Code.org (headed by Smith's next-door neighbor) and Mark Zuckerberg's FWD.us PAC. Smith is a Code.org Board member and a FWD.us 'Major Contributor'. "We took this idea of connecting immigration to education last fall," Smith explained to the Daily Princetonian in 2013, "and when I started in September, we were the only ones talking about it. To have the White House endorse it, to have it embodied in the Senate Bill, to have people in both houses of Congress supporting it means that potentially this is a magic moment for some important steps for education reform as well." While crying crisis wolf to further its agenda has worked well for Microsoft, a Federal judge recently overturned 'emergency' tech immigration changes enacted by Homeland Security in 2008, saying that "the 17-month duration of the STEM extension appears to have been adopted directly from the unanimous suggestions by Microsoft." -
Google To Deliver Groceries
An anonymous reader writes: Out of carrots? Fire up Google and search for some. They might just show up at your house. Bloomberg reports that the search giant will start testing a grocery delivery service later this year in San Francisco and one other city. Google will be partnering with Costco, Whole Foods, and other grocery stores to source their products. "Google is investing in delivery services for homes and businesses as it seeks to lure more traffic to its websites. The move puts the company in more direct competition with Amazon, which has rolled out its AmazonFresh service in several U.S. cities. ... The fresh-food trial, including fruits and vegetables, is part of a move away from making deliveries from warehouses, which can add complexity and requires refrigeration." -
Cheap Smartphones Quietly Becoming Popular In the US
An anonymous reader writes: Bloomberg reports that ZTE and its cheap Android smartphones have been grabbing more and more of the market in the U.S. It's not that the phones are particularly good — it's that they're "good enough" for the $60 price tag. The company has moved up to fourth among smartphone makers, behind Apple, Samsung and LG. That puts them ahead of a lot of companies making premium devices: HTC, Motorola, and BlackBerry, to name a few. ZTE, a Chinese manufacturer, seems to be better at playing the U.S. markets than competitors like Xiaomi and Huawei, and they're getting access to big carriers and big retailers. "Its phone sales are all the more surprising because it's been frozen out of the more lucrative telecom networking market since 2012. That year, the House Intelligence Committee issued a report warning that China's intelligence services could potentially use ZTE's equipment, and those of rival Huawei Technologies, for spying. Huawei then dismissed the allegations as 'little more than an exercise in China bashing.'" -
WWII Bomb Shelter Becomes Hi-Tech Salad Farm
asjk points out a story of how a World War II bomb shelter, situated 33 meters beneath the streets of London, has been turned into a high-tech hydroponic farm. "The growing system uses energy-efficient LEDs instead of sun, no pesticides, needs 70 percent less water than growing plants in open fields, and less energy than a greenhouse." The computer-controlled environment is designed to shorten the growth cycle of plants like coriander and radishes. They're currently only using about a quarter of the gear necessary to fill up the shelter, but they can produce 5,000-20,000 kilograms of food per year, depending on what they raise. Co-founder Steven Dring said, "We've got to utilize the spaces we've got. There's a finite amount of land and we can grow salads and herbs — which start losing flavor and quality as soon as you cut them — in warehouses and rooftops in cities near the people who will eat them. Use the rural land for things like carrots, potatoes and livestock." -
Why In-Flight Wi-Fi Is Still Slow and Expensive
An anonymous reader writes: Let's grant that having access to the internet while on an airplane is pretty amazing. When airlines first began offering it several years ago, it was agonizingly slow and somewhat pricey as well. Unfortunately, it's only gotten more expensive over the years, and the speeds are still frustrating. This is in part because the main provider of in-flight internet, Gogo, knows most of its regular customers will pay for it, regardless of cost. Business travelers with expense accounts don't care if it's $1 or $10 or $50 — they need to stay connected. Data speeds haven't improved because Gogo says the scale isn't big enough to do much infrastructure investment, and most of the hardware is custom-made. A third of Gogo-equipped planes can manage 10 Mbps, while the rest top out at 3 Mbps. There's hope on the horizon — the company says a new satellite service should enable 70 Mbps per plane by the end of the year — but who knows how much they'll charge for an actual useful connection. -
IBM Launches Linux-Only Mainframes
An anonymous reader writes: IBM is introducing two mainframe servers that only run on Linux. It's part of a new initiative from the Linux Foundation called the Open Mainframe Project. "The idea is that those companies participating in this project can work together, and begin building a set of open source tools and technologies for Linux mainframes, while helping one another overcome common development issues in the same manner as all open source projects." IBM's hardware release is accompanied by 250,000 lines of code that they're open sourcing as well. "Ultimately the mainframe mainstays are hoping to attract a new generation of developers to their platform. To help coax new users, IBM will be offering free access to the LinuxOne cloud, a mainframe simulation tool it developed for creating, testing and piloting Linux mainframe applications." Canonical is working with IBM to bring Ubuntu to mainframes. -
HBO, Netflix, and Amazon Targeting Kids
An anonymous reader writes: The latest high-profile show to join one of the major streaming services probably isn't one you watch: Sesame Street. However, it's a clear signal for a growing trend: these services desperately want to corner the market on kid's shows. Netflix has gotten tons of praise for its original series, and it's been quietly putting that production power behind new shows aimed at children. They've also made deals with Disney and Dreamworks to get movies onto the service as quickly as possible. Amazon has been debuting series after series as well, with six pilots for new children's shows landing last month alone. "The battle for kids, at bottom, is about keeping their parents around even when a favorite show about a murderous politician is on hiatus. Streaming services are far easier to cancel and resubscribe than cable-TV ... so the goal is to make that decision harder." Now that HBO is starting to commit to streaming, it's faced with the same problems. By deriving their funding through subscriptions, these companies can avoid the flak YouTube and Hulu are getting for targeting kids with advertisements. -
Fossil CEO: Wearables Smothering Swiss Watch Business
itwbennett writes: I think technology and the whole idea of wearables ... has taken some of the oxygen out of the Swiss business,' Fossil CEO Kosta Kartsotis told analysts on a call to discuss the watch maker's second quarter results. These new competitors, along with other factors like a strong U.S. dollar, contributed to Fossil's quarterly revenue decline, Kartsotis said. Last week, a report from market research firm NPD Group claimed the Apple Watch was partially behind the largest slump in U.S. watch sales since 2008. -
US Busts Insider Trading Hackers
An anonymous reader sends news that U.S. authorities have dispersed an insider trading ring that broke into remote servers to grab press releases before their official publishing date. The group hacked into organizations called PRNewswire, Marketwired, and Business Wire, taking as many as 150,000 press releases over the past five years, including those involving earnings reports. The information was sold to other people who used it to buy and sell stocks. The nine people targeted in this sting netted approximately $30 million, while an SEC lawsuit targeting 32 individuals says the take was more like $100 million. Their scheme is a new type of distributed insider trading that didn't rely on leaked information from employees of any of the targeted companies. "They ran this like a business. They provided customer support: The hackers allegedly set up servers for their customers to access their information, and 'created a video tutorial on how to access and use one of the servers they used to share the Stolen Releases.' They responded to customer feedback ... Their fees were performance-based, and the performance was audited." -
Microsoft Creates an AI That Can Spot a Joke In a New Yorker Cartoon
An anonymous reader writes: For over a decade Bob Mankoff, the cartoon editor at the New Yorker, and his assistants have gone through 5,000 cartoon entries for the magazine's caption contest each week. Needless to say, the burnout rate of his assistants is quite high, "The process of looking at 5,000 caption entries a week usually destroys their mind in about two years, and then I get a new one," Mankoff says. But now thanks to a collaboration with Microsoft, Bob may finally have found the perfect helper. Researchers have been working on an artificial intelligence project to teach a computer what's funny. Fortune reports: "Dafna Shahaf, a researcher at Microsoft, used the database of cartoons to train the program to understand commonalities and differences in the millions of cartoons, which lets the AI run through the entries the New Yorker receives each week for its back-of-magazine cartoon caption contest. About 55.8% of the time the humans agree with the captions the AI selects, which is a pretty good percentage." -
Epson Is Trying To Kill the Printer Ink Cartridge
An anonymous reader writes: Inkjet printer cartridges have been the bane of many small businesses and home offices for decades. It's interesting, then, that Epson is trying something new: next month, they're launching a new line of printers that come with small tanks of ink, instead of cartridges. The tanks will be refilled using bottles of ink. They're reversing the economics, here: the printer itself will be more expensive, but the refills will be much cheaper. Early reports claim you'll be spending a tenth as much on ink as you were before, but we'll see how that shakes out. The Bloomberg article makes a good point: it's never been easier to not print things. The printer industry needs to innovate if it wants us to keep churning out printed documents, and this may be the first big step. -
Will Autonomous Cars Be the Insurance Industry's Napster Moment?
An anonymous reader writes: Most of us are looking forward to the advent of autonomous vehicles. Not only will they free up a lot of time previously spent staring at the bumper of the car in front of you, they'll also presumably make commuting a lot safer. While that's great news for the 30,000+ people who die in traffic accidents every year in the U.S. alone, it may not be great news for insurance companies. Granted, they'll have to pay out a lot less money with the lower number of claims, but premiums will necessarily drop as well and the overall amount of money within the car insurance system will dwindle.
Analysts are warning these companies that their business is going to shrink. It will be interesting to see if they adapt to the change, or cling desperately to an outdated business model like the entertainment industry did. "One opportunity for the industry could be selling more coverage to carmakers and other companies developing the automated features for cars. ... When the technology fails, manufacturers could get stuck with big liabilities that they will want to cover by buying more insurance. There's also a potential for cars to get hacked as they become more networked." -
What Federal Employees Really Need To Worry About After the Chinese Hack
HughPickens.com writes: Lisa Rein writes in the Washington Post that a new government review of what the Chinese hack of sensitive security clearance files of 21 million people means for national security is in — and some of the implications are quite grave. According to the Congressional Research Service, covert intelligence officers and their operations could be exposed and high-resolution fingerprints could be copied by criminals. Some suspect that the Chinese government may build a database of U.S. government employees that could help identify U.S. officials and their roles or that could help target individuals to gain access to additional systems or information. National security concerns include whether hackers could have obtained information that could help them identify clandestine and covert officers and operations (PDF).
CRS says that if the fingerprints in the background investigation files are of high enough quality, "depending on whose hands the fingerprints come into, they could be used for criminal or counterintelligence purposes." Fingerprints also could be trafficked on the black market for profit — or used to blow the covers of spies and other covert and clandestine officers, the research service found. And if they're compromised, fingerprints can't be reissued like a new credit card, the report says, making "recovery from the breach more challenging for some." vivaoporto Also points out that these same hackers are believed to be responsible for hacking United Airlines. -
Fiat Chrysler Hit With Record $105 Million Fine Over Botched Recalls
An anonymous reader writes: The U.S. National Highway Traffic Safety Administration has levied a record fine against Fiat Chrysler Automobiles to punish them for failing to adequately recall and fix defective cars. (If Fiat sounds familiar, it's the same company that issued a 1.4 million-vehicle recall on Friday over a remote hack.) The NHTSA's $105 million fine is half-again as much as the next biggest fine (given to Honda last year over faulty airbags). Fiat Chrysler "admitted to violating federal rules requiring timely recalls and notifications to vehicle owners, dealers and regulators." The company will be forced to buy back hundreds of thousands of vehicles (at the owners' discretion, of course) that have problems with the suspension that could lead to a loss of control. A million more Jeep owners will be given a chance to trade in their vehicle at a higher rate than market value because of rear-mounted gas tanks that are prone to catching fire. -
Fiat Chrysler Recalls 1.4 Million Autos To Fix Remote Hack
swinferno writes: Fiat Chrysler announced today that it's recalling 1.4 million automobiles just days after researchers demonstrated a terrifying hack of a Jeep that was driving down the highway at 70 miles per hour. They are offering a software patch for some of their internet-connected vehicles. Cybersecurity experts Chris Valasek and Charlie Miller have publicly exposed a serious vulnerability that would allow hackers to take remote control of Fiat Chrysler Automobile (FCA) cars that run its Uconnect internet-accessing software for connected car features. Despite this, the researchers say automakers are being slow to address security concerns, and are often approaching security in the wrong way. -
Smartphone Apps Fraudulently Collecting Revenue From Invisible Ads
JoeyRox writes: Thousands of mobile applications are downloading ads that are never presented to users but which collected an estimated $850 million in fraudulent revenue from advertisers per year. The downloading of these invisible ads can slow down users' phones and consume up to 2GB of bandwidth per day. Forensiq, an online technology firm fighting fraud for advertisers, found over 5,000 apps displayed unseen ads on both Apple and Android devices. "The sheer amount of activity generated by apps with fake ads was what initially exposed the scam. Forensiq noticed that some apps were calling up ads at such a high frequency that the intended audience couldn't possibly be actual humans." -
How Drug Companies Seek To Exploit Rare DNA Mutations
An anonymous reader writes: With so many people in the world, humanity can't help but generate a large amount of genetic outliers. Most random mutations are undetectable, and many of the rest lead to serious diseases. But there's another class of mutation that has drug companies salivating. For example: a few dozen people worldwide have a condition that prevents them from feeling any pain. Another condition called sclerosteosis affects less than 100 people, giving them incredibly dense bone structure. Both of these conditions have serious downsides, but drug companies are beginning to see the dollar signs behind isolating these mutations and making them safe.
"People with sclerosteosis lack a protein that acts as a brake on bone growth. Without that protein, bones grow abnormally thick. It stood to reason, researchers thought, that a drug that could block the protein in patients with osteoporosis would encourage bone regrowth. Amgen's scientists created hundreds of antibodies that they tested to determine which might be able to get in the way of the protein. It took them three and a half years of research before they were able to identify the best antibody to inhibit the protein. Then NASA came calling." It's an unfortunate situation for those with the rare conditions; there's a lot more potential profit in finding a way to genetically prevent pain for billions of people than it is to cure the handful with the condition. -
Is the Amazon-Led Economic Boom Wrecking Seattle?
reifman writes: Seattleites are struggling with massive traffic, rising housing costs and declining diversity. Amazon's building and acquiring enough office space to triple its local headcount by 2020. Facebook, Google and many other tech companies are now expanding here as well — it's the San Franciscoization of Seattle. Downtown is filled with 75 cranes — some blocks look like mining towns. Amazon's hired so many white males that King County is now the whitest in the nation and hate crimes against gays have shot up in a formerly LGBTQ neighborhood. Politicians can't agree on reforming impact fees and taxes to address these issues." An interesting piece of recent advice from a long time Amazonian to the company's interns: avoid full-time employment there. -
China's Stock Crash: $3.5 Trillion Wiped Out, $2.6 Trillion Frozen
An anonymous reader writes: The stock market crisis going on in China is notable for the huge numbers involved. $3.5 trillion ($3,500,000,000,000) in value has been wiped out by falling prices, and over a thousand companies have forced a pause in trading. The combined value of all of these companies exceeds $2.6 trillion, and it represents about 40% of the total market capitalization. This follows attempts by the exchanges and the government to instill confidence in trading once more, but investors are still wary. The NY Times has a detailed explanation of how the market got into trouble, and why it's not likely to fix itself overnight: "Put all these pieces together, and here's what we have: a rise in Chinese share prices in the last year that seemed to be driven more by investor psychology than by anything fundamental. It is hard to see how the prices as of a month ago were justified, and easy to see why the sell-off of the last month would occur. That, in turn, implies that Chinese officials are fighting an uphill battle in their policy moves to try to stop the correction, and helps explain why their policy actions have had little effect so far." -
The Mob's IT Department
An anonymous reader writes: An article at Bloomberg relates the story of two IT professionals who reluctantly teamed up with an organized criminal network in building a sophisticated drug smuggling operation. "[The criminals were] clever, recruiting Van De Moere and Maertens the way a spymaster develops a double agent. By the time they understood what they were involved in, they were already implicated." The pair were threatened, and afraid to go to the police. They were asked to help with deploying malware and building "pwnies" — small computers capable of intercepting network traffic that could be disguised as power strips and routers. In 2012, authorities lucked into some evidence that led them to investigate the operation. "Technicians found a bunch of surveillance devices on [the network of large shipping company MSC]. There were two pwnies and a number of Wi-Fi keyloggers—small devices installed in USB ports of computers to record keystrokes—that the hackers were using as backups to the pwnies. MSC hired a private investigator, who called PricewaterhouseCoopers' digital forensics team, which learned that computer hackers were intercepting network traffic to steal PIN codes and hijack MSC's containers." -
Rocket Labs Picks New Zealand For Its Launch Site
schwit1 writes: The small sat rocket company Rocket Labs has chosen a location in New Zealand as its future launch site. Bloomberg reports: "The company didn't specify how much it was investing in the site, which is due to be completed in the fourth quarter. New Zealand, which has been used in the past by the National Aeronautical and Space Administration, is considered a prime location because rockets launched from that deep in the Southern hemisphere can reach a wide range of Earth orbits. Rocket Lab's remote site on the Kaitorete Spit in the Canterbury region also means it has less air and sea traffic, which translates into more frequent launches and economies of scale, the company said. It also will no longer compete for airspace with the U.S. government." Rocket Labs will have to actually launch something to really make the competition heat up. This announcement, however, illustrates that in the long run, the United States has some significant disadvantages as a spaceport location. -
Celebrating Workarounds, Kludges, and Hacks
itwbennett writes: We all have some favorite workarounds that right a perceived wrong (like getting around the Wall Street Journal paywall) or make something work the way we think it ought to. From turning off annoying features in your Prius to getting around sanctions in Crimea and convincing your Android phone you're somewhere you're not, workarounds are a point of pride, showing off our ingenuity and resourcefulness. And sometimes artful workarounds can even keep businesses operating in times of crisis. Take, for example, the Sony employees, who, in the wake of the Great Hack of 2014 when the company's servers went down, dug out old company BlackBerrys that, while they had been abandoned, had never had their plans deactivated. Because BlackBerrys used RIM's email servers instead of Sony's, they could still communicate with one another, and employees with BlackBerrys became the company's lifeline as it slowly put itself back together. What hacks and workarounds keep your life sane? -
Microsoft To Sell Bing Maps, Advertising Sections
UnknowingFool writes: Microsoft has announced that they will sell some Bing Maps technology to Uber and their advertising business to AOL. About 1,300 employees are expected to be offered positions in their new companies. CEO Nadella said previously that there would be "tough choices" to be made. Some outside analysts have said neither venture was very profitable for Microsoft and may have been unprofitable at times. -
New Study Accuses Google of Anti-competitive Search Behavior
An anonymous reader writes: Columbia Law School professor Tim Wu — the man who coined the term "network neutrality" — has published a new study suggesting that Google's new method of putting answers to simple search queries at the top of the results page is anticompetitive and harmful to consumers. For subjective search queries — e.g. "What's the best [profession] in [city]?" — Google frequently figures out a best-guess answer to display first, favoring its own results to do so. The study did some A/B testing with a group of 2,690 internet users and found they were 45% more likely to click on merit-based results than on Google's listings. Wu writes, "Search engines are widely understood as key mediators of the web's speech environment, given that they have a powerful impact on who gets heard, what speech is neglected, and what information generally is reached. ... The more that Google directs users to its own content and its own properties, the more that speakers who write reviews, blogs and other materials become invisible to their desired audiences." -
How Uber Takes Over a City
schwit1 suggests Bloomberg's story on one aspect of Uber's corporate behavior that may leave a sour taste in the mouth of anyone who'd like to believe the Uber-vs.-the-Cartels narrative. The company hired David Plouffe, known for managing Barack Obama's rise to fame, and many others as well, to help them navigate inevitable and ongoing moves for regulation. The scale is impressive; according to the article: Over the past year, Uber built one of the largest and most successful lobbying forces in the country, with a presence in almost every statehouse. It has 250 lobbyists and 29 lobbying firms registered in capitols around the nation, at least a third more than Wal-Mart Stores. That doesn't count municipal lobbyists. In Portland, the 28th-largest city in the U.S., 10 people would ultimately register to lobby on Uber's behalf. And while the article focuses mostly on the example of Portland, the effort is ongoing and nationwide. -
iPhone 6S New Feature: Force Touch
New submitter WarJolt writes: Apple is adding Force Touch to their iPhone 6S and iPhone 6S Plus. I'm not sure if Force Touch enough to convince an Android user like myself to switch, but there are definitely some interesting possibilities for app developers. A challenge for App developers will be to make apps compatible with both Force Touch iPhones and non-force touch iPhones. (Here's the Bloomberg report Forbes draws from.) -
After Protest, France Cracks Down On Uber
An anonymous reader writes: Just a day after taxi drivers began a high-profile protest of Uber in France, the nation's interior minister has issued a ban on the car-sharing service UberPop. The minister stated that the service was illegal, and ordered police to begin seizing vehicles defying the order. French president Francois Hollande agrees that UberPOP "should be dismantled," but says the state isn't legally permitted to seize cars itself without court authorization. "UberPOP is a car-sharing service offered by Uber, which brings together customers and private drivers at prices lower than those charged by both traditional taxi firms and even other Uber services. UberPOP differs because it allows non-professional drivers to register their car and transport other passengers. It has been illegal in France since January, but the law has proved difficult to enforce and the service continues to operate, AFP news agency reports." -
Anti-Uber Taxi Protest Blocks Access To Airports In France
An anonymous reader writes: Taxi drivers in France have been complaining that a recently passed law against unlicensed commercial drivers is being flouted by Uber, and going relatively unenforced by authorities. They claim to have lost 30% of their income to Uber over the past two years, and they've become fed-up with the situation. The taxi drivers have now started an indefinite, nation-wide strike in protest. Part of that strike involves blocking access to Paris's Roissy airport as well as the main road encircling the city. Protesters have also blocked access to train stations in Merseille and Aix. "The drivers — who have to pay thousands of euros for a license — say they are being unfairly undercut by Uber, which is not licensed by the authorities. Prosecutors have cracked down on Uber, filing almost 500 legal cases involving complaints about UberPOP. About 100 attacks on Uber drivers and passengers have been reported in recent weeks." -
The Vicious Circle That Is Sending Rents Spiraling Higher
jones_supa writes: Skyrocketing rents and multiple roommates — these are the kinds of war stories you expect to hear in space-constrained cities such as New York and San Francisco. But the rental crunch has been steadily creeping inland from coastal cities and up the economic ladder. Bloomberg takes a look at the vicious cycle that keeps rents spiraling higher. People paying high rents have a harder time saving for a down payment, preventing tenants from exiting the rental market. Low vacancy rates let landlords raise rents still higher. Developers who know they can command high rents (and sales prices) are spurred to spend more to acquire developable land. Finally, higher land costs can force builders to target the higher end of the market. The interesting question is how long can this last before we reach a level that is not affordable to the majority of the demographic that is being serviced. -
Elon Musk Probably Won't Be the First Martian
pacopico writes: In a new biography on him, Elon Musk goes into gory details on his plans for colonizing Mars. The author of the book subsequently decided to run those plans by Andy Weir, the author of The Martian. Weir's book is famous for its technical acumen around getting to and from The Red Planet. His conclusion is that Musk's technology, which includes the biggest rocket ever built, is feasible — but that Musk will not be the first man on Mars. The interview also hits on the future of NASA and what we need to get to Mars. Good stuff. Weir says, "My estimate is that this will happen in 2050. NASA is saying more like 2035, but I don't have faith in Congress to fund them." -
Google Takes Over NYC's Free WiFi Project
dkatana writes: Google's new Smart Cities venture Sidewalk Labs announced the purchase of Intersection, the new company behind the LinkNYC project. nGoogle wants to speed up the developing of free internet access to New York residents and visitors, as a way to gather more information about their activities. Users of the pylons will provide the company invaluable data about their habits, places they visit, and browsing activity.
As part of the original LinkNYC plan, Intersection is scheduled to start deploying the new ad-supported, locally manufactured, WiFi 'pylons' this fall, reaching all five boroughs of the city. It will be the largest and fastest free municipal WiFi system in the world. After that, the company plans to start rolling out similar initiatives in other U.S. cities, but details have not been made public yet.