Domain: wsj.com
Stories and comments across the archive that link to wsj.com.
Stories · 1,821
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Google Appeals $5 Billion EU Fine In Android Case (wsj.com)
An anonymous reader quotes a report from The Wall Street Journal: Alphabet's Google on Tuesday said it filed an appeal of the European Union's $4.97 billion antitrust fine (Warning: source may be paywalled; alternative source) for allegedly abusing the dominance of its Android operating system for mobile phones. But Google said it has no plans to ask for so-called interim measures to pause application of the decision. Without further action, Google will have to meet a deadline at the end of October to end the behavior the EU says is anticompetitive or face additional fines of up to 5% of average daily global revenue for each day it doesn't comply. Google had promised that it would appeal the decision when the European Commission, the bloc's antitrust regulator, delivered it in mid-July. The commission said that Google broke the block's competition laws in part by strong-arming phone makers that use its free Android operating system to pre-install its namesake search engine, from which the company makes the bulk of its advertising revenue.
In the Android case, the European Commission has ordered Google to stop making phone manufacturers pre-install its search app and the Chrome web browser if they want to pre-install Google's Play store, which is the main way to download Android apps. The bloc also ordered Google to end restrictions that discourage manufacturers from selling devices that run unofficial versions of Android. It contends both restrictions illegally constrained competing search engines and operating systems. Google has argued that Android, which is free for manufacturers to use, has increased competition among smartphone makers, lowering prices for consumers. The company has said the allegation that it stymied competing apps is false because manufacturers typically install many rival apps on Android devices, and consumers can easily download others. -
Google Exposed Private Data of Hundreds of Thousands of Google+ Users and Then Opted Not To Disclose, Report Says (wsj.com)
Google exposed the private data of hundreds of thousands of users of the Google+ social network and then opted not to disclose the issue this past spring, in part because of fears that doing so would draw regulatory scrutiny and cause reputational damage, WSJ reported Monday, citing people briefed on the incident and documents. From the report: As part of its response to the incident, the Alphabet unit plans to announce a sweeping set of data privacy measures that include permanently shutting down all consumer functionality of Google+, the people said. The move effectively puts the final nail in the coffin of a product that was launched in 2011 to challenge Facebook and is widely seen as one of Google's biggest failures.
A software glitch in the social site gave outside developers potential access to private Google+ profile data between 2015 and March 2018, [Editor's note: the link may be paywalled; alternative source] when internal investigators discovered and fixed the issue, according to the documents and people briefed on the incident. A memo reviewed by the Journal prepared by Google's legal and policy staff and shared with senior executives warned that disclosing the incident would likely trigger "immediate regulatory interest" and invite comparisons to Facebook's leak of user information to data firm Cambridge Analytica. Update: In an announcement Monday, Google said it was shutting down Google+ for consumers: We are shutting down Google+ for consumers. Over the years we've received feedback that people want to better understand how to control the data they choose to share with apps on Google+. So as part of Project Strobe, one of our first priorities was to closely review all the APIs associated with Google+. This review crystallized what we've known for a while: that while our engineering teams have put a lot of effort and dedication into building Google+ over the years, it has not achieved broad consumer or developer adoption, and has seen limited user interaction with apps. The consumer version of Google+ currently has low usage and engagement: 90 percent of Google+ user sessions are less than five seconds. Google+ still receives north of 200 million page views every month on the web, according to SimilarWeb, a third-party web analytics firm. -
The First Rule of Microsoft Excel -- Don't Tell Anyone You're Good at It (wsj.com)
An anonymous reader shares a report: When Anand Kalelkar started a new job at a large insurance company, colleagues flooded him with instant messages and emails and rushed to introduce themselves in the cafeteria. He soon learned his newfound popularity came with strings attached. Strings of code. Many of Mr. Kalelkar's co-workers had heard he was a wizard at Microsoft Excel and were seeking his help in taming unruly spreadsheets and pivot tables gone wrong.
[...] Excel buffs are looking to lower their profiles. Since its introduction in 1985 by Microsoft Corp., the spreadsheet program has grown to hundreds of millions of users world-wide. It has simplified countless office tasks once done by hand or by rudimentary computer programs, streamlining the work of anyone needing to balance a budget, draw a graph or crunch company earnings. Advanced users can perform such feats as tracking the expenditures of thousands of employees. At the same time, it has complicated the lives of the office Excel Guy or Gal, the virtuosos whose superior skills at writing formula leave them fighting an endless battle against the circular references, merged cells and mangled macros left behind by their less savvy peers.
"If someone tells you that they âjust have a few Excel sheets' that they want help with, run the other way," tweeted 32-year-old statistician Andrew Althouse. "Also, you may want to give them a fake phone number, possibly a fake name. It may be worth faking your own death, in extreme circumstances." The few Excel sheets in question, during one recent encounter, turned out to have 400 columns each, replete with mismatched terms and other coding no-nos, said Mr. Althouse, who works at the University of Pittsburgh. The project took weeks to straighten out. -
Nintendo Plans New Version of Switch Next Year (wsj.com)
According to The Wall Street Journal, Nintendo is planning to release a new version of its Switch gaming console next year (Warning: source may be paywalled; alternative source) "to maintain the sales momentum of the device," which is "no longer delivering the favorable surprises that marked the machine's first year on the market." From the report: Nintendo is still debating what new hardware and software features to include in the upgrade and weighing the cost of the features, people with knowledge of the discussions said. One option is improving the display, they said. The current Switch uses a lower-end liquid-crystal display without some technologies that are standard in more recent smartphone LCDs. Updating the display with these technologies would make it brighter, thinner and more energy-efficient. The updated Switch isn't expected to adopt the organic light-emitting diode or OLED panels used in Apple's iPhone X series. Nintendo is looking to release the new Switch in the latter half of 2019, perhaps as soon as summer, the people said. [...] The upgraded Switch would likely share many features with the current version and be compatible with existing Switch game software. -
Brain Scans Can Detect Who Has Better Skills, Research Says (wsj.com)
To gain new insight into how highly specialized workers learn skills or react to stressful situations, researchers are leveraging advanced scanning technologies to look at what's happening inside the brain. From a report: In the latest findings, a team of researchers studied surgeons as they performed surgical simulations and found they could identify novice from experienced surgeons by analyzing brain scans taken as the physicians worked [The story could be paywalled]. The researchers, who described their findings Wednesday in the journal Science Advances, said that the part of the brain involved in planning complex behaviors was more active in the novices. Skilled surgeons had more activity in the motor cortex, which is important for movement. The researchers, who developed a machine-learning system to analyze the scans, also showed that training resulted in a shift toward higher activity in the motor cortex. In total, the brains of roughly 30 surgeons and trainees were monitored while they performed pattern-cutting tasks that are part of professional tests for certifications. The brain-data metrics were more accurate than current professional tests used to assess the same manual skills, according to the study. -
Verizon is Offering Buyout Packages To as Many as 44,000 Management Employees; Some IT Employees Will Be Transferred To Indian Outsourcing Firm Infosys [Update] (bloomberg.com)
Verizon Communications is offering buyout packages to as many as 44,000 management employees as part of a cost-cutting drive, potentially eliminating more than a fourth of its workforce. From a report: The offer, which excludes executives in sales or crucial company roles, is part of a four-year, $10 billion cost-reduction program that Chairman Lowell McAdam put in place last year. A Verizon spokesman declined to say how many of the 44,000 managers are expected to take the offer and leave the company. Update: The Wall Street Journal adds: Verizon notified many information technology employees that they were being transferred to Indian outsourcing giant Infosys as part of a $700 million outsourcing agreement. The pool of employees who either received the severance offer or are affected by the Infosys deal amounts to about 30% of the 153,100 employees that Verizon had globally at the end of June. "Strategically we are going to invest more in transforming the business versus running the business," materials detailing the outsourcing agreement said. As part of that pact, Verizon is transferring about 2,500 employees in the U.S. and overseas to Infosys. Those employees aren't eligible for severance payments and won't receive their 2018 bonus if they are offered a job at Infosys and don't accept it, according to materials given to the employees. -
Saudi Arabia Puts World's Biggest Solar Power Project On Hold (dw.com)
An anonymous reader quotes a report from Deutsche Welle: Citing Saudi government officials, the U.S. business daily The Wall Street Journal (WSJ) reported Monday that Saudi plans to build the world's largest solar power generation facility had been shelved, as the desert kingdom was working on a "broader, more practical strategy to boost renewable energy." The solar project was expected to generate about 200 gigawatts of energy by 2030 -- more than three times the country's daily requirement. "It is easy to sway or grab one's attention, but difficult to do any execution," WSJ quoted a senior adviser to the Saudi government as saying. Now, no one was actively working on the project, the source added.
[T]he country's entry into the solar market is being hampered by high costs and logistical issues. The project's first phase alone was expected to gobble up $1 billion, and was due to be funded by the Vision Fund this year. According to the Saudi officials cited by WSJ, Riyadh hadn't yet made any decisions on the project's details, including land acquisition, the structure of development or whether it would receive subsidies from the state. "Everyone is just hoping this whole idea would just die," a Saudi energy official familiar with the matter was quoted as saying. Instead, Saudi officials said the government was now devising a broader renewable energies strategy to be announced in late October, which would help clarify renewable energy goals. -
Voting Machine Used in Half of US Is Vulnerable to Attack, Report Finds (wsj.com)
Election machines used in more than half of U.S. states carry a flaw disclosed more than a decade ago that makes them vulnerable to a cyberattack, WSJ reported, citing a report which will be made public Thursday on Capitol Hill. From the report: The issue was found in the widely used Model 650 high-speed ballot-counting machine made by Election Systems & Software LLC, the nation's leading manufacturer of election equipment. It is one of about seven security problems in several models of voting equipment described in the report, which is based on research conducted last month at the Def Con hacker conference. The flaw in the ES&S machine stood out because it was detailed in a security report commissioned by Ohio's secretary of state in 2007, said Harri Hursti, an election-security researcher who co-wrote both the Ohio and Def Con reports. "There has been more than plenty of time to fix it," he said.
While the Model 650 is still being sold on the ES&S website, a company spokeswoman said it stopped manufacturing the systems in 2008. The machine doesn't have the advanced security features of more-modern systems, but ES&S believes "the security protections on the M650 are strong enough to make it extraordinarily difficult to hack in a real world environment," the spokeswoman said via email. The machines process paper ballots and can therefore be reliably audited, she said. The Def Con report is the latest warning from researchers, academics and government officials who say election systems in the U.S. are at risk to tampering. -
Do You Know Cobol? If So, There Might Be a Job for You. (wsj.com)
Despite its advanced age, Cobol is still the most prevalent programming language in the financial-services industry world-wide. Software programmed in Cobol powers millions of banking transactions every day and underpins critical computer mainframes. WSJ: And Cobol isn't going away anytime soon. Banks and other companies have come to the uncomfortable realization that ripping out old mainframes is pricey and complicated. Transitioning to new systems is likely to take years, and besides, a lot of the older tech works just fine. The problem is that Cobol isn't popular with new programmers. So, with a generation of Cobol specialists retiring, there is a continuing hunt to find a new generation of programmers to service this technology. In Texas, Mr. Hinshaw's (an anecdote in the story) company, the Cobol Cowboys, a group of mostly older programmers, is training U.S. military veterans in the programming language. Accenture is coaching hundreds of Cobol programmers every year in India and the Philippines to work at banks. In Malaysia, one consultancy that provides engineers versed in Cobol for its clients, iTAc MSC Outsourcing, has adopted the slogan "Keeping the Dinosaurs Alive." A host of companies offer online courses in Cobol in places like South Africa, India and Bangladesh. Developing economies are key technology-outsourcing centers for banks. Further reading: Major Banks and Parts of Federal Gov't Still Rely On COBOL, Now Scrambling To Find IT 'Cowboys' To Keep Things Afloat. -
Google CEO Sundar Pichai Is Headed To Washington This Week To Discuss Censorship, China (theverge.com)
An anonymous reader quotes a report from The Verge: Google CEO Sundar Pichai will be present at a private meeting with top Republican lawmakers this Friday to discuss the company's controversial plans to relaunch a search product in China and perceived liberal bias of search results, according to a report from The Wall Street Journal. According to the WSJ, Attorney General Jeff Sessions plans to meet with state attorneys general on Tuesday to discuss Google's alleged censorship of conservatives. Tech firms have denied the existence of liberal bias in products, and Google has pushed back against key Trump inaccuracies, but it sounds as if Pichai will be forced to answer questions nonetheless. The meeting is being organized by House Majority Leader Kevin McCarthy (R-CA). Late last week, Pichai sent an email to employees, which was obtained by The New York Times, in which he stated outright that Google has never influenced search results for political purposes and has no plans to do so in the future.
Pichai also plans to attend a public hearing later this year held by the House Judiciary Committee following the November midterm elections, after Google co-founder and Alphabet CEO Larry Page notably declined to show up to a Senate Intel Committee hearing on election interference earlier this month. In addition to mending relationships over Page's absence, Pichai will also be addressing Google's plans to relaunch a search product for the Chinese market, a move that has resulted in widespread criticism given the likelihood such a product would be heavily censored and would aid in China's use of information control to maintain social and political order. -
A New Report Outlines Apple's Reluctance For Mature Content On Its Streaming Service (theverge.com)
A new report from The Wall Street Journal details the state of Apple's yet-to-be-unveiled streaming service. "It highlights some of the difficulties Apple has faced in striking the right tone for its content, particularly when it comes to 'gratuitous sex, profanity or violence,' and cites sources who expect the launch of the streaming service to be pushed further back," reports The Verge. From the report: The report opens with Apple CEO Tim Cook's reaction to Vital Signs, a show based on the life of Dr. Dre. Apple picked up the show back in 2016, but when Cook viewed it a year ago, he told Apple Music executive Jimmy Iovine that it was too violent, and that the company can't show it. Apple has some big plans for its original content ambitions. It brought in two seasoned Hollywood executives to oversee its video streaming project, and invested $1 billion to develop new a slate of new projects. Judging from those acquisitions, the company is swinging for the fences it's picked up a reboot of Steven Spielberg's Amazing Stories, a space show from Battlestar Galactica's Ron Moore, a network drama starring Reese Witherspoon and Jennifer Aniston, a show based on Isaac Asimov's Foundation series, and more.
The WSJ report notes that Apple's preference is for family-friendly projects that appeal to a broad audience, and that it's trying to avoid weighing into overly political or controversial territory with the content that it's producing -- only a handful of those shows "veer into 'TV-MA' territory." Apple's approach doesn't come as a huge surprise: it's been described as "conservative and picky." The company has long forbidden adult content from its App Store, rigorously removing Apps that even display NSFW content, like Vine or 500px. TV executives note in the report that where streaming services can simply weather a boycott or lose some subscribers, alienating audiences could prompt viewers to boycott Apple's hardware. -
Google Employees Discussed Tweaking Search Results To Counter Trump's Travel Ban (wsj.com)
An anonymous reader quotes a report from The Wall Street Journal: Days after the Trump administration instituted a controversial travel ban in January 2017, Google employees discussed how they could tweak the company's search-related functions (Warning: source may be paywalled; alternative source) to show users how to contribute to pro-immigration organizations and contact lawmakers and government agencies, according to internal company emails. The email traffic, reviewed by The Wall Street Journal, shows that employees proposed ways to "leverage" search functions and take steps to counter what they considered to be "islamophobic, algorithmically biased results from search terms 'Islam', 'Muslim', 'Iran', etc." and "prejudiced, algorithmically biased search results from search terms `Mexico', `Hispanic', `Latino', etc." The email chain, while sprinkled with cautionary notes about engaging in political activity, suggests employees considered ways to harness the company's vast influence on the internet in response to the travel ban. Google said none of the ideas discussed were implemented. "These emails were just a brainstorm of ideas, none of which were ever implemented," a company spokeswoman said in a statement. "Google has never manipulated its search results or modified any of its products to promote a particular political ideology -- not in the current campaign season, not during the 2016 election, and not in the aftermath of President Trump's executive order on immigration. Our processes and policies would not have allowed for any manipulation of search results to promote political ideologies." -
Apple's New Strategy: Sell Pricier iPhones First (wsj.com)
The staggered release gives the company a month to sell higher-end models without cheaper competition from itself. WSJ: This year, according to people familiar with Apple's production plans, the company prioritized production of its two pricier OLED models, the iPhone XS and XS Max, whose prices start at about $1,000. Both will hit stores Friday, followed five weeks later by the least expensive new model, the XR, which has an LCD screen and a starting price of $749. The staggered release gives Apple a month to sell the higher-end models without cheaper competition from itself. It also simplifies logistics and retail demands and could strengthen Apple's ability to forecast sales and production of all three models through the Christmas holidays, analysts and supply chain experts said. "It's sort of a Dutch auction," said Josh Lowitz, co-founder of research firm Consumer Intelligence Research Partners, referring to the practice of starting with a high asking price, then lowering it until a buyer accepts. "The people who are most committed will pay to get early access. Then you get to the people who are making a choice and may settle for the $750 phone. This could become the new normal." -
Facebook Wanted Banks To Fork Over Customer Data Passing Through Messenger (theverge.com)
An anonymous reader quotes a report from The Verge: For years, Facebook has publicly positioned its Messenger application as a way to connect with friends and as a way to help customers interact directly with businesses. But a new report from The Wall Street Journal today indicates that Facebook also saw its Messenger platform as a siphon for the sensitive financial data of its users, information it would not otherwise have access to unless a customer interacted with, say, a banking institution over chat. In this case, the WSJ report says not only did the banks find Facebook's methods obtrusive, but the companies also pushed back against the social network and, in some cases, moved conversations off Messenger to avoid handing Facebook any sensitive data. Among the financial firms Facebook is said to have argued with about customer data are American Express, Bank of America, and Wells Fargo.
The report says Facebook was interested in helping banks create bots for its Messenger platform, as part of a big push in 2016 to turn the chat app into an automated hub of digital life that could help you solve problems and avoid cumbersome customer service calls. But some of these bots, like the one American Express developed for Messenger last year, deliberately avoided sending transaction information over the platform after Facebook made clear it wanted to use customer spending habits as part of its ad targeting business. In some cases, companies like PayPal and Western Union negotiated special contracts that would let them offer many detailed and useful services like money transfers, the WSJ reports. But by and large, big banks in the U.S. have reportedly shied away from working with Facebook due to how aggressively it pushed for access to customer data. Facebook said in a statement to The Wall Street Journal: "Like many online companies, we partner with financial institutions to improve people's commerce experiences, like enabling better customer service, and people opt into these experiences. We've emphasized to partners that keeping people's information safe and secure is critical to these efforts. That has been and always will be our priority." -
Google's Android OS To Power Dashboard Displays (go.com)
schwit1 shares a report from The Wall Street Journal: Google is making a major push into the auto industry, partnering with the Renault-Nissan-Mitsubishi Alliance to use the tech company's Android OS to power media displays (Warning: source may be paywalled; alternative source) that will eventually be sold in millions of cars world-wide. The auto-making alliance, which together sells more vehicles than any other auto maker, is picking Google to provide the operating system for its next-generation infotainment system, marking a major victory for the Silicon Valley tech giant, which has spent more than a decade trying to replicate the success it has had with the smartphone in the car. The alliance, which last year sold a combined 10.6 million vehicles globally, will debut the new system in 2021, giving drivers better integration of Google's maps, app store and voice-activated assistant from the vehicle's dashboard, the companies said. The move comes as other auto makers have been reluctant to cede control of this space to tech rivals, in part because they see the technology as generating valuable consumer data that can be turned into new revenue streams. Slashdot reader schwit1 adds: "But can I get it unlocked and can it be turned off, like this traveling telescreen? -
New Trump Tariffs Won't Include Fitness Trackers Or the Apple Watch (theverge.com)
According to Bloomberg, the next round of China tariffs won't include devices that receive and transmit voice data, a category that includes the Apple Watch, Fitbits, Sonos Speakers, and a host of other fitness trackers and home assistants. The Verge reports: The White House recently backed down on the rate at which the imports would be taxed. Over the weekend, The Wall Street Journal reported that listed goods would likely be taxed at only 10 percent. As recently as August, President Trump had considered setting the rate at 25 percent. Customs documents describe the category in vague terms, listing the devices as "machines for the reception, conversion and transmission or regeneration of voice, images or other data." But that vague category has come to encompass a wide range of personal tech, including fitness trackers and personal voice assistants. The Apple Watch, AirPods, HomePod, BeatsWL, AirPort, and Time Capsule all fall under the code, according to a letter submitted by Apple to the U.S. Trade Representative. Other categories of Apple products will still be affected by the tariff, including adapters, the Mac mini, and any circuit boards or internal components shipped individually to the United States. -
Amazon Says It is Investigating Claims That Its Employees Are Taking Bribes To Sell Internal Data To Merchants To Help Them Increase Their Sales on the Website (wsj.com)
Amazon.com is investigating internal leaks as it fights to root out fake reviews and other seller scams from its website, the company told WSJ. From the report: Employees of Amazon, primarily with the aid of intermediaries, are offering internal data and other confidential information that can give an edge to independent merchants selling their products on the site, according to sellers who have been offered and purchased the data, brokers who provide it and people familiar with internal investigations. The practice, which violates company policy, is particularly pronounced in China, according to some of these people, because the number of sellers there is skyrocketing. As well, Amazon employees in China have relatively small salaries, which may embolden them to take risks. In exchange for payments ranging from roughly $80 to more than $2,000, brokers for Amazon employees in Shenzhen are offering internal sales metrics and reviewers' email addresses, as well as a service to delete negative reviews and restore banned Amazon accounts, the people said.
Amazon is investigating a number of cases involving employees, including some in the U.S., suspected of accepting these bribes, according to people familiar with the matter. An internal probe began in May after Eric Broussard, Amazon's vice president who oversees international marketplaces, was tipped off to the practice in China, according to people familiar with the matter. Amazon has since shuffled the roles of key executives in China to try to root out the bribery, one of these people said. -
Before It Was Hacked, Equifax Had a Different Fear: Chinese Spying (wsj.com)
Two years before Equifax stunned the world with the announcement it had been hacked, the credit-reporting company believed it was the victim of another theft, only this time at the hands of Chinese spies, WSJ reported Wednesday. From the report: In the previously undisclosed incident, security officials feared that former employees had removed thousands of pages of proprietary information before leaving and heading to jobs in China. Materials included code for planned new products, human-resources files and manuals. Equifax went to the Federal Bureau of Investigation and the Central Intelligence Agency. Investigators from the company and the FBI came to view events at Equifax as potentially a huge theft of data -- not of consumers' personal data, as happened with the subsequent 2017 hacking of Equifax's files, but of confidential business information. Equifax security officials briefed the then-chief executive, Richard Smith, at a fall 2015 meeting, spreading high stacks of paper across the length of the boardroom table. The voluminous printouts represented what they feared was stolen. Adding to suspicions, the Chinese government had recently asked eight companies to help it build a national credit-reporting system. At one point, Equifax grew so worried it began building a way to monitor the computer activity of all of its ethnic-Chinese employees, according to people familiar with the investigation. The resource-heavy project, which raised legal concerns internally, was short-lived. -
FDA Chief Considers Ban of All Flavored E-Cigarettes (wsj.com)
Calling a surge in teen use of e-cigarettes an epidemic, the head of the Food and Drug Administration says he is considering pulling all flavored e-cigarettes from the U.S. market. From a report: After years of declining U.S. smoking rates, sales of e-cigarettes have jumped in the past year, fueled in part by online startups selling vaporizers and nicotine-laced liquids. The most popular brand, Juul, sells refills with mango, cucumber and creme flavors. Each $4 pod contains as much nicotine as a pack of cigarettes. "The number of teenagers we believe are now using these products... has reached an epidemic proportion," said FDA Commissioner Scott Gottlieb, who is expected to announce new measures Wednesday to curb underage use. Dr. Gottlieb said he believes that certain flavors make the products appealing to teens. "The availability of e-cigarettes cannot come at the expense of addicting a new generation of youth onto nicotine, and it won't," he said in an interview. Alternative source, and official announcement. -
Trump Tells Apple To Make Products In the US To Avoid China Tariffs (thehill.com)
hackingbear writes: President Trump acknowledged in a tweet that "Apple prices may increase because of the massive Tariffs we may be imposing on China," but suggested the issue was not with the tariffs themselves. "There is an easy solution where there would be ZERO tax, and indeed a tax incentive. Make your products in the United States instead of China. Start building new plants now," Trump wrote. The U.S. is threatening to impose 25% tariffs on all $500 billion worth of Chinese imports over issues such as intellectual property theft.
While Apple et al are still making their products in China, Trump didn't offer Apple a place to find the millions of laborers needed to make their products, given that the official unemployment rate is at a historic low of 3.9%. Manufacturers also need to compete in the labor market with garbage companies who need to find American laborers willing to recycle their own trash -- a job once imposed upon China as a condition to enter the World Trade Organization and enjoy advantageous tariff rates. China is gracefully giving back those jobs as the U.S. is complaining of unfair trades. -
Theranos To Close Shop (cbsnews.com)
Major Blud writes: Multiple news outlets are reporting that Theranos, the company that promised to revolutionize healthcare with new blood-testing devices, is closing shop. The company "was unable to sell itself and is now looking to pay unsecured creditors its remaining cash of about $5 million in the upcoming months," reports CBS News. The CEO, Elizabeth Holmes, and President/COO Ramesh Balwani recently settled a civil suit with the SEC, which charged them with massive fraud related to them seeking investment based on misleading information regarding the accuracy of their "Edison" diagnostic equipment. According to The Wall Street Journal, investors lost almost $1 billion in the company. At one point, it was valued at almost $10 billion. -
Amazon Hits $1 Trillion Market Value Milestone (reuters.com)
Amazon.com on Tuesday became the second U.S. company to reach $1 trillion in stock market value, just weeks after Apple hit the same milestone on Aug. 2. Shares in the world's largest online retailer last traded up 1.4 percent at $2,041.68. Its shares hit the $2050.2677 level to give its stock a value of $1 trillion. From a report: Amazon and Apple, which hit the trillion-dollar milestone on Aug. 2, symbolize the growing influence of tech companies on markets and the economy. The industry is amassing wealth and power, creating a new order in business where the most valuable resource is no longer oil, but data. Not far behind in market value are Google owner Alphabet Inc. and Microsoft Corp. , both approaching $900 billion, while Facebook -- which crossed $500 billion in July 2017, a day after Amazon -- has stalled at those levels amid a data-privacy scandal and growth concerns. -
Inside Twitter's Long, Slow Struggle To Police Bad Actors (wsj.com)
Twitter CEO Jack Dorsey has personally weighed in on high-profile decisions, frustrating some employees. An anonymous reader shares a report: When Twitter Chief Executive Jack Dorsey testifies before Congress this week, he'll likely be asked about an issue that has been hovering over the company: Just who decides whether a user gets kicked off the site? To some Twitter users -- and even some employees -- it is a mystery. In policing content on the site and punishing bad actors, Twitter relies primarily on its users to report abuses and has a consistent set of policies so that decisions aren't made by just one person, its executives say. Yet, in some cases, Mr. Dorsey has weighed in on content decisions at the last minute or after they were made, sometimes resulting in changes and frustrating other executives and employees [Editor's note: the link may be paywalled; alternative source], according to people familiar with the matter. Understanding Mr. Dorsey's role in making content decisions is crucial, as Twitter tries to become more transparent to its 335 million users, as well as lawmakers about how it polices toxic content on its site.
Last month, after Twitter's controversial decision to allow far-right conspiracy theorist Alex Jones to remain on its platform, Mr. Dorsey told one person that he had overruled a decision by his staff to kick Mr. Jones off, according to a person familiar with the discussion. Twitter disputes that account and says Mr. Dorsey wasn't involved in those discussions. Twitter's initial inaction on Mr. Jones, after several other major tech companies banned or limited his content, drew fierce backlash from the public and Twitter's own employees, some of whom tweeted in protest. [...] "Any suggestion that Jack made or overruled any of these decisions is completely and totally false," Twitter's chief legal officer, Vijaya Gadde, said in a statement. "Our service can only operate fairly if it's run through consistent application of our rules, rather than the personal views of any executive, including our CEO." -
Yahoo, Bucking Industry, Scans Emails for Data To Sell Advertisers (wsj.com)
The U.S. tech industry has largely declared it is off limits to scan emails for information to sell to advertisers. Yahoo still sees the practice as a potential gold mine. From a report: Yahoo's owner, the Oath unit of Verizon Communications has been pitching a service to advertisers that analyzes more than 200 million Yahoo Mail inboxes and the rich user data they contain, searching for clues about what products those users might buy, said people who have attended Oath's presentations as well as current and former employees of the company. Oath said the practice extends to AOL Mail, which it also owns. Together, they constitute the only major U.S. email provider that scans user inboxes for marketing purposes. -
Is Your Email Address Holding You Back? (wsj.com)
Whether you're freelancing or on the job hunt, don't let a poorly conceived online handle limit your career prospects A quick glance at any group email confirms what recruiters and hiring managers know too well: Not everyone sheds their adolescent email addresses when they enter adulthood, instead maintaining allegiance to digital monikers based on the music, videogames and contraband they once held dear. From a report: Though rebranding yourself online can be a pain (as those who've been through the ordeal of changing their contact info know), the practice is often better for your career trajectory, said Chris Swanson, a career and college counselor at Bremerton High School in Washington state. "It's just like the idea that a handshake and eye contact makes a good impression. That's the first thing that comes across someone's desk." Even so, many Americans still use curious handles for professional exchanges, either by virtue of inertia or nostalgia or because they've never had an employer-issued handle and don't know any better -- they only know Dave Matthews rules.
[...] It might be ironic to send missives from @aol.com, but it doesn't suggest an exceedingly tech-savvy candidate. Actually, "It weirds me out," said Ms. Moore. "Why are you still using AOL? Gmail is definitely the winner." Don't even get her started on Hotmail. When updating a resume it's a good time to evaluate if an email address seems dated, especially if applying for a tech gig. -
Videogame Developers Are Making It Harder To Stop Playing (wsj.com)
Videogames have gotten harder to turn off, mental-health experts and parents say, raising concerns about the impact of seemingly endless gaming sessions on players' lives. From a report: Game developers for years have tweaked the dials not only on how games look and sound but how they operate under the hood, and such changes have made videogames more pervasive and enthralling, industry observers say. The World Health Organization in June added "gaming disorder" to an updated version of its International Classification of Diseases, warning about a condition in which people give up interests and activities to overly indulge in gaming despite negative consequences. It is expected to be formally classified in January 2022.
Many games today are free, available on multiple devices, and double as social networks. Where once games were played and put away for a while, now game companies are routinely delivering new content aimed at keeping players constantly engaged. Some new content is available only for a limited time, a maneuver that tugs at people's fears of missing out, psychologists say. "Videogames are engineered specifically to keep people playing," said Douglas A. Gentile, a research scientist focused on the impact of media on children and adults. "They're designed to hit the pleasure centers of the brain in some of the same ways that gambling can." -
Microsoft Hit With US Bribery Probe Over Deals in Hungary (wsj.com)
Microsoft is being investigated by U.S. authorities over potential bribery and corruption related to software sales in Hungary, WSJ reported Thursday. From a report: The investigation follows a series of similar probes into Microsoft business partners that surfaced in 2013 in five other countries. Microsoft made a push earlier this decade to expand in emerging markets, as well as smaller, middle-income countries like Hungary. In some cases, those bets have turned into legal and reputational challenges. The U.S. Justice Department and the Securities and Exchange Commission are probing how Microsoft sold software such as Word and Excel to middleman firms in Hungary that then sold those products to government agencies there in 2013 and 2014, according to these people. Microsoft sold some of its products to these intermediaries at steep discounts, and then these firms sold the products to the Hungarian government at closer to full price, these people said. -
DNC Says Reported Hack Attempt Was a False Alarm (wsj.com)
furry_wookie writes: A suspected attempt to hack into the Democratic National Committee's voter database was actually a cybersecurity test [Editor's note: the originally submitted article might be paywalled; an alternative source], the organization said. The DNC, which was [allegedly] hacked by Russian intelligence officers during the 2016 presidential campaign, said Tuesday it had contacted the Federal Bureau of Investigation after being alerted to an apparent phishing scheme by the computer security firm Lookout Inc., which uncovered a replica of the login page to the DNC's Votebuilder database during an online scan. In a statement early Wednesday, Bob Lord, the DNC's chief information security officer, said the DNC and its partners who reported the site 'now believe it was built by a third party as part of a simulated phishing test.' -
Apple Removes Facebook's Onavo Security App From the App Store (cnbc.com)
Apple has removed Facebook's Onavo security app from the App Store because it violated the company's privacy rules. In a statement to CNBC, an Apple spokesperson said: "We work hard to protect user privacy and data security throughout the Apple ecosystem. With the latest update to our guidelines, we made it explicitly clear that apps should not collect information about which other apps are installed on a user's device for the purposes of analytics or advertising/marketing and must make it clear what user data will be collected and how it will be used." From the report: According to a Wall Street Journal story on Wednesday, citing a person familiar with the matter, Apple officials told Facebook last week that Onavo violated the company's rules on data collection by developers, and suggested last Thursday that Facebook voluntarily remove the app. Facebook acquired Israel-based Onavo in 2013, snapping up the free security app that lets users access a virtual private network, or VPN, to browse the web and download apps with a greater degree of privacy. Facebook in the past has offered that service to users without clearly disclosing that its owns the app, and has collected data about what other types of apps those customers use. In June, Facebook told Congress that it does not use Onavo data "for Facebook product uses" or to collect information about individuals, but it has admitted to using Onavo to gather broad information about which apps are popular and how people are using them, which it uses to improve its own products. -
Apple Pulls 25,000 Apps From China Amid a Barrage of State-Media Criticism (wsj.com)
Apple has pulled more than 25,000 illegal apps from its App Store in China after coming under fire from state media for not doing enough to filter out banned material. From a report: "Gambling apps are illegal and not allowed on the App Store in China," Apple said in a statement Monday. "We have already removed many apps and developers for trying to distribute illegal gambling apps on our App Store, and we are vigilant in our efforts to find these and stop them from being on the App Store." The removals were reported earlier by Chinese state broadcaster CCTV on Sunday, which said 25,000 apps were pulled. Apple didn't confirm that number. It offers more than 1.8 million apps in China, according to the Ministry of Industry and Information Technology. Removing 25,000 apps would amount to about 1.4% of that total. -
After Employee Revolt, Google Says It's 'Not Close' To Launching Search In China (arstechnica.com)
An anonymous reader quotes a report from Ars Technica: Reports from earlier this month claimed Google was working on products for the Chinese market, detailing plans for a search engine and news app that complied with the Chinese government's censorship and surveillance demands. The news was a surprise to many Googlers, and yesterday an article from The New York Times detailed a Maven-style internal revolt at the company. Fourteen hundred employees signed a letter demanding more transparency from Google's leadership on ethical issues, saying, "Google employees need to know what we're building." The letter says many employees only learned about the project through news reports and that "currently we do not have the information required to make ethically informed decisions about our work, our projects, and our employment."
According to a report from The Wall Street Journal, Google addressed the issue of China at this week's all-hands meeting. The report says CEO Sundar Pichai told employees the company was "not close to launching a search product" in China but that Pichai thinks Google can do good by engaging with China. "I genuinely do believe we have a positive impact when we engage around the world," The Journal quotes Pichai as say, "and I don't see any reason why that would be different in China." The report says Brin "sounded optimistic about doing more business in China" but that Brin called progress in the country "slow-going and complicated." -
Flight-Simulator Enthusiasts Confident of Real-World Skills (wsj.com)
Two anonymous readers share a report: When the ground-services employee who stole a turboprop airliner last week declined air-traffic controllers' piloting advice, saying he had played videogames, it was no surprise to some devotees of intricate home flight-simulation programs [Editor's note: the link may be paywalled; an alternative source wasn't immediately available.]. Such software can mimic many phases of aircraft operations, including takeoffs, as well as how to respond to heavy weather and emergencies, pilots and software makers say. The simulators are also more affordable than pursuing a pilot's license and can help satisfy a lifelong obsession with flying.
Last year, two million units of vehicle-simulation games for PCs and consoles were sold world-wide, the most common being flight simulators, according to the market-research firm NPD Group. Home programs have evolved over more than three decades. They can represent all types of aircraft, from wartime bombers to modern-day passenger airliners. A setup can cost a few dozen dollars for a videogame to thousands for software with intricate renderings of cockpits and real-world environments. A new conference called FlightSimExpo held in Las Vegas in June drew around 1,100 people, its organizers said. FlightSimCon held its sixth annual gathering in Dallas in June, according to its website. Many hobbyists say they don't think of simulators in the same vein as traditional videogames, because they aren't trying to rack up points or compete. They simply focus on flying. -
NYU Offers Full-Tuition Scholarships for All Medical Students (wsj.com)
New York University said Thursday that it will cover tuition for all its medical students regardless of their financial situation, a first among the nation's major medical schools and an attempt to expand career options for graduates who won't be saddled with six-figure debt [Editor's note: the link may be paywalled]. From a report: School officials worry that rising tuition and soaring loan balances are pushing new doctors into high-paying fields and contributing to a shortage of researchers and primary care physicians. Medical schools nationwide have been conducting aggressive fundraising campaigns to compete for top prospects, alleviate the debt burden and give graduates more career choices. NYU raised more than $450 million of the roughly $600 million it estimates it will need to fund the tuition package in perpetuity, including $100 million from Home Depot founder Kenneth Langone and his wife, Elaine. The school will provide full-tuition scholarships for 92 first-year students -- another 10 are already covered through M.D./PhD programs -- as well as 350 students already partway through the M.D.-only degree program. -
Trump, Seeking To Relax Rules on US Cyberattacks, Reverses Obama Directive (wsj.com)
President Trump has reversed an Obama-era memorandum dictating how and when the U.S. government can deploy cyberweapons against its adversaries, in an effort to loosen restrictions on such operations [Editor's note: the link may be paywalled; alternative source], WSJ reports. From the report: Mr. Trump signed an order on Wednesday reversing the classified rules, known as Presidential Policy Directive 20, that had mapped out an elaborate interagency process that must be followed before U.S. use of cyberattacks, particularly those geared at foreign adversaries. The change was described as an "offensive step forward" by an administration official briefed on the decision, one intended to help support military operations, deter foreign election influence and thwart intellectual property theft by meeting such threats with more forceful responses. The Trump administration has faced pressure to show that it is taking seriously national-security cyberthreats -- particularly those that intelligence officials say are posed by Moscow. -
IBM Promised Its AI Platform Watson Would Be a Big Step Forward in Treating Cancer. But After Pouring Billions Into the Project, the Diagnosis is Gloomy. (wsj.com)
Can Watson cure cancer? That's what IBM asked soon after its AI system beat humans at the quiz show "Jeopardy!" in 2011. Watson could read documents quickly and find patterns in data. Could it match patient information with the latest in medical studies to deliver personalized treatment recommendations? "Watson represents a technology breakthrough that can help physicians improve patient outcomes," said Herbert Chase, a professor of biomedical informatics at Columbia University, in a 2012 IBM press release. Six years and billions of dollars later, the diagnosis for Watson is gloomy [Editor's note: the link may be paywalled; alternative source]. WSJ: More than a dozen IBM partners and clients have halted or shrunk Watson's oncology-related projects. Watson cancer applications have had limited impact on patients, according to dozens of interviews with medical centers, companies and doctors who have used it, as well as documents reviewed by The Wall Street Journal. In many cases, the tools didn't add much value. In some cases, Watson wasn't accurate. Watson can be tripped up by a lack of data in rare or recurring cancers, and treatments are evolving faster than Watson's human trainers can update the system. Dr. Chase of Columbia said he withdrew as an adviser after he grew disappointed in IBM's direction for marketing the technology. No published research shows Watson improving patient outcomes. IBM said Watson has important cancer-care benefits, like helping doctors keep up with medical knowledge. -
Tribune Terminates $3.9 Billion Merger With Rival Sinclair (wsj.com)
The merger that once seemed all but inevitable has fallen apart. According to The Wall Street Journal, Tribune Media has terminated its merger agreement with rival TV station-owner Sinclair Broadcast Group (Warning: source may be paywalled; alternative source). The company is also suing Sinclair for failing to make sufficient efforts to get their $3.9 billion deal approved by regulators. From the report: The suit, filed in Delaware Chancery Court, alleges that Sinclair breached the merger agreement by engaging in "unnecessarily aggressive and protracted negotiations" with regulators over their requirement that Sinclair divest stations in certain markets to obtain approval, Tribune said in a statement. The deal structures Sinclair proposed, which Tribune said were done to allow it to maintain control over stations, created risks for the deal in violation of the merger agreement. Tribune is seeking financial damages.
The collapse of the deal and lawsuit mark a stunning turn of events for a deal that when it was announced in April of 2016 seemed certain to receive regulatory approval. "Our merger cannot be completed within an acceptable time frame, if ever, Tribune Media Chief Executive Peter Kern said in a statement. "This uncertainty and delay would be detrimental to our company and our shareholders. Accordingly, we have exercised our right to terminate the merger agreement, and, by way of our lawsuit, intend to hold Sinclair accountable." The merger hit the rocks last month when FCC commissioners voted to send the proposed sale to a judge. "FCC chairman Ajit Pai raised 'serious concerns' about Sinclair's selloff of 21 stations it had proposed in order to remain under station ownership limits post-merger," Engadget reported last month. "Had Sinclair declined to sell off some stations, its 173 broadcast stations in 81 markets, combined with Tribune's 42 stations in 33 markets would reach 72 percent of U.S. TV households." -
Samsung To Spend Over $22 Billion on AI, Auto Tech and 5G (wsj.com)
The Samsung conglomerate said it will invest more than $22 billion over the next three years to target such areas as artificial intelligence and auto-technology components, as it seeks out growth drivers beyond phones and memory chips. From a report: The bulk of the spending will be earmarked for Samsung Electronics, the conglomerate's crown jewel. The company is the world's No. 1 maker of smartphones, semiconductors and televisions and last year put more toward capital expenditures than any other publicly traded company. Samsung ïsaid it would invest heavily in four key areas through 2020. Auto tech, artificial intelligence and new fifth-generation, or 5G, cellular technology [Editor's note: the link may be paywalled; alternative source] -- all of which that fall under Samsung's umbrella -- will draw funding, as will its nascent drug companies specializing in contract manufacturing and biosimilar medications. Samsung, South Korea's largest business empire, spans 62 affiliates as diverse as life insurance and theme parks. -
Facebook Has Asked Large US Banks To Share Detailed Financial Information About Customers as it Seeks To Boost User Engagement [Update] (wsj.com)
Facebook wants your financial data. The social media giant has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking account balances, as part of an effort to offer new services to users, The Wall Street Journal reported Monday. From the report: Facebook increasingly wants to be a platform where people buy and sell goods and services, besides connecting with friends. The company over the past year asked JPMorgan Chase, Wells Fargo & Co., Citigroup and U.S. Bancorp USB to discuss potential offerings it could host for bank customers on Facebook Messenger, said people familiar with the matter. Facebook has talked about a feature that would show its users their checking-account balances, the people said. It has also pitched fraud alerts, some of the people said. Data privacy is a sticking point in the banks' conversations with Facebook, according to people familiar with the matter. The talks are taking place as Facebook faces several investigations over its ties to political analytics firm Cambridge Analytica, which accessed data on as many 87 million Facebook users without their consent. Update: Shares of Facebook surged nearly 3% following the report. A paywall free, alternative source of this story.
Update 2 (18:10 GMT): Talking to TechCrunch, Facebook has, in part, denied WSJ's report. TechCrunch: Facebook spokesperson Elisabeth Diana tells TechCrunch it's not asking for credit card transaction data from banks and it's not interested in building a dedicated banking feature where you could interact with your accounts. It also says its work with banks isn't to gather data to power ad targeting, or even personalize content such as what Marketplace products you see based on what you buy elsewhere. -
Traders Are Talking Up Cryptocurrencies, Then Dumping Them, Costing Others Millions (wsj.com)
Dozens of trading groups are manipulating the price of cryptocurrencies on some of the largest online exchanges, generating at least $825 million in trading activity over the past six months -- and hundreds of millions in losses for those caught on the wrong side, according to a Wall Street Journal analysis. From a report: In a review of trading data and online communications among traders between January and the end of July, the Journal identified 175 "pump and dump" schemes involving 121 different digital coins, which show a sudden rise in price and an equally sudden fall minutes later.
A pump-and-dump scheme is one of the oldest types of market fraud: Traders talk up the price of an asset before dumping it for a profit and leaving fooled investors with shrunken shares. The Securities and Exchange Commission regularly brings civil cases alleging pump and dumps using publicly traded stocks. Manipulations of cryptocurrencies are no different, but regulators have yet to bring a case in the more opaque market for them. The SEC declined to comment. -
US Recycling Companies Face Upheaval From China Scrap Ban (wsj.com)
An anonymous reader quotes a report from the Wall Street Journal: U.S. companies that collect waste for recycling are weighing higher prices and other changes to their operations since China upended the industry when it stopped accepting much of the scrap material Americans have been shipping there for decades. The top two solid waste services companies in the U.S., Waste Management Inc. and Republic Services Inc., both recently pulled back profit projections in their recycling divisions based on China's new policies, which have created a glut in scrap markets and sent global prices for scrap material plummeting.
According to the Institute of Scrap Recycling Industries Inc., 31% of U.S. scrap commodity exports worth a total of $5.6 billion were sent to China last year. It was cheap for recycling collectors to send scrap to China because ocean carriers offered deeply discounted prices to get shipping containers back to Asia after they had arrived at U.S. ports packed with goods made in Chinese factories. "We were happy to send material back in them for pennies on the dollar," Mr. Coupland said. Now it's gotten more complicated. Mr. Coupland said Republic Services has found new buyers in Malaysia, India and other markets, but fewer ships make direct trips there from the U.S., driving up transportation costs. Global prices for used materials have plummeted, so Republic loses money on most of the recycled scrap it now sells overseas. That cost is increasingly likely to get passed along to U.S. households and businesses. -
GE Engineer With Ties To China Accused of Stealing Power Plant Technology (thestreet.com)
An anonymous reader quotes a report from TheStreet: General Electric stock was little changed on Friday, August 3, as a GE engineer with ties to China who has been accused of stealing proprietary power-turbine technology has been released on bond. Xiaoqing Zheng, 56, has been in custody since Wednesday when the FBI raided his home in Niskayuna, New York, near Albany. A federal judge on Thursday set a $100,000 bond; Zheng offered his family's home as collateral and was released on Friday. He was ordered to wear an electronic monitoring device and limit his travel, according to multiple media reports.
Zheng, who is a U.S. citizen, was hired by GE in 2008 to work as a principal engineer for the company's power division, according to an affidavit by an FBI agent filed in federal court in Albany. Zheng is "suspected of taking/stealing, on multiple occasions via sophisticated means, data files from GE's laboratories that contain GE's trade secret information involving turbine technology," the FBI said in its affidavit. He also took "elaborate means" to conceal the removal of GE data files. "The primary focus of this affidavit is Zheng's action in 2018 in which he encrypted GE data files containing trade secret information, and thereafter sent the trade secret information from his GE work computer to Zheng's personal e-mail address hidden in the binary code of a digital photograph via a process known as steganography," the FBI said. "Additionally, the secondary focus of this affidavit is Zheng's actions in 2014 in which he downloaded more than 19,000 files from GE's computer network onto an external storage device, believed by GE investigators to have been a personal thumb drive."
Zheng's attorney disputed the allegations, saying Zheng "transmitted information on his own patents to himself and to no one else." -
Nestle Experiments with Tracking Gerber Baby Food on the Blockchain (wsj.com)
Nestle SA is putting some of its Gerber baby food products on a food-tracking blockchain to test whether the technology can trace the fruits and vegetables that go into its purees and squeezable pouches. From a report: Nestle's effort is part of a wider food-industry exercise aimed at improving food recalls by using the technology behind bitcoin to trace a worldwide ingredient supply chain. Food recalls can diminish consumer confidence and lead to lost sales. News of tainted baby food hits an especially sensitive nerve -- stakes that in part prompted Nestle to choose a popular variety of its Gerber linefor its blockchain test, said Chris Tyas, global head of supply chain at the Swiss company. Nestle offers more than 2,000 brands, including Haagen-Dazs, Stouffer's and Poland Spring. Nestle also sees the move as a way to generate customer trust everyday and during recalls. "People want to know, quite rightly, where ingredients they give to their baby have come from," he said. "We wanted a product in which trust meant something." -
Facebook's New Message to WhatsApp: Make Money (wsj.com)
Deepa Seetharaman, writing for WSJ: Four years after Facebook bought WhatsApp for $22 billion, it is formally starting the messaging app on a new mission: bringing in revenue. WhatsApp on Wednesday detailed plans to sell advertisements and charge big companies that want to reach their customers through its service [Editor's note: the link may be paywalled: alternative source], launching its first major revenue streams as growth at Facebook's main app is starting to decelerate. The measures are aimed at connecting businesses with WhatsApp's user base of roughly 1.5 billion accounts, WhatsApp executives said.
The announcements follow disagreements between Facebook leaders and WhatsApp's co-founders, Jan Koum and Brian Acton, over how to monetize the popular, free service. Mr. Koum and Mr. Acton resisted efforts to put ads in WhatsApp, and over the past year both men have decided to leave Facebook and the messaging app they started in 2009 -- a breakup that was the subject of a Page One article in The Wall Street Journal in June. [...] Next year, WhatsApp plans to show ads in its Status feature, company officials told the Journal. Status allows users to post montages of text, photos and video that appear for 24 hours -- similar to an Instagram tool called Stories. About 450 million people use WhatsApp Status, compared with about 400 million who use Instagram Stories, which already shows ads. -
DHS Forms New Cyber Hub To Protect Critical US Infrastructure (wsj.com)
The Department of Homeland Security announced on Tuesday the creation of a new center aimed at guarding the nation's banks, energy companies and other industries from major cyberattacks that could cripple critical infrastructure. From a report: The launch of the National Risk Management Center was unveiled by DHS Secretary Kirstjen Nielsen at a government-hosted cyber summit in New York City, at which Vice President Mike Pence and several other cabinet secretaries are expected to speak. In prepared remarks, Ms. Nielsen said that cyber threats now posed a greater threat to the country than physical attacks. DHS was founded 15 years ago to prevent another Sept. 11, 2001, Ms. Nielsen said, but "today I believe the next major attack is more likely to reach us online than on an airplane." The center's creation was motivated by a growing recognition in government that sophisticated cyberattacks, particularly those deployed by foreign adversaries, can not only harm a company or industry but can cause systemic failure across society, Chris Krebs, DHS's top cyber official, said in an interview. -
Russian Hackers Reach US Utility Control Rooms, Homeland Security Officials Say (wsj.com)
"Russian hackers [...] broke into supposedly secure, "air-gapped" or isolated networks owned by utilities (Warning: source may be paywalled; alternative source) with relative easy by first penetrating the networks of key vendors who had trusted relationships with the power companies," reports The Wall Street Journal, citing officials at the Department of Homeland Security. "They got to the point where they could have thrown switches" and disrupted power flows, said Jonathan Homer, chief of industrial-control-system analysis for DHS. The hacking campaign started last year and likely is continuing. From the report: DHS has been warning utility executives with security clearances about the Russian group's threat to critical infrastructure since 2014. But the briefing on Monday was the first time that DHS has given out information in an unclassified setting with as much detail. It continues to withhold the names of victims but now says there were hundreds of victims, not a few dozen as had been said previously. It also said some companies still may not know they have been compromised, because the attacks used credentials of actual employees to get inside utility networks, potentially making the intrusions more difficult to detect.
The attackers began by using conventional tools -- spear-phishing emails and watering-hole attacks, which trick victims into entering their passwords on spoofed websites -- to compromise the corporate networks of suppliers, many of whom were smaller companies without big budgets for cybersecurity. Once inside the vendor networks, they pivoted to their real focus: the utilities. It was a relatively easy process, in many cases, for them to steal credentials from vendors and gain direct access to utility networks. Then they began stealing confidential information. For example, the hackers vacuumed up information showing how utility networks were configured, what equipment was in use and how it was controlled. They also familiarized themselves with how the facilities were supposed to work, because attackers "have to learn how to take the normal and make it abnormal" to cause disruptions, said Mr. Homer. Their goal, he said: to disguise themselves as "the people who touch these systems on a daily basis." -
Tech Chief Role Grows More Strategic, Survey Finds (wsj.com)
The rise of digital capabilities continues to elevate the role of IT leaders across the enterprise, moving them beyond back-office tech hubs and increasingly closer to products, services and customers, Korn/Ferry International reports. WSJ: In a recent survey, 83% of 199 technology chiefs said their role was more strategic than it was three years ago. Another 67% said they were on their company's executive committee, up from 55% in a similar survey last year, the executive-search firm said. As they shift from back-office technicians, 81% said they are now playing a greater role with customers, products and services than they were three years ago. The survey included responses from chief information officers, as well as chief technology and chief digital officers, at large businesses in a range of industries. "Based on the need to drive results, many companies are leveraging and deploying results-oriented technology leaders to drive the intersection of technology, product and digital efforts," Craig Stephenson, Korn Ferry managing director, North America Technology Officers Practice, told CIO Journal. He said the impact and scope of CIOs, CTOs and CDOs on the business side of operations is evolving rapidly and expected to expand even more in the years ahead. Further reading: Nicholas Carr was right --IT died, but was resurrected -
Uber Faces Federal Investigation Over Alleged Gender Discrimination (bbc.com)
According to The Wall Street Journal, Uber is being investigated by U.S. authorities over a complaint about gender discrimination (Warning: source may be paywalled; alternative source). The U.S. Equal Employment Opportunity Commission (EEOC) is leading the investigation, which began last August but hasn't been previously reported. From the report: EEOC investigators have been interviewing former and current Uber employees as well as seeking documents from Uber officials, these people said. The investigators have been seeking information related to hiring practices, pay disparity and other matters as they relate to gender, one person said. Uber, which hopes to debut on the public markets sometime in the second half of next year, is already is facing at least five other federal investigations by multiple agencies into its pricing practices, accusations of bribery by Uber executives abroad, and its use of software designed to evade local officials tracking its operations, among other matters.
The EEOC, tasked with enforcing federal laws against discrimination, generally responds to confidential complaints filed by workers against employers, and can file suit or seek private arbitration. Of roughly 90,000 complaints filed annually, a fraction result in a settlement or EEOC-led lawsuit. It is unclear whether the EEOC intends to take any action against Uber, which would be one of the agency's most prominent recent cases. -
The First Real Boom in Virtual Reality? It's Pornography. (wsj.com)
An anonymous reader shares a report: Pornography has provided the first real boom in VR, and adult-entertainment companies like Naughty America are leading the way. In the 18 months after producing its first VR video, the San Diego-based studio released 108 more, making it one of the most prolific producers of VR content in the world. In 2017, the company operated a booth at the annual International Consumer Electronics Show in Las Vegas and became the first adult business allowed to exhibit in 19 years.
It's not surprising that adult-entertainment companies are among the first movers in the nascent VR industry. After adult content helped popularize new media formats like VHS, Blu-ray and streaming video, the idea that porn drives digital innovation became a widely accepted truth. What is surprising is how big VR porn has become, and how quickly. In 2016, Samsung, HTC, Google, Sony and Facebook-owned Oculus sold just over 6.1 million headsets worldwide, according to an estimate from SuperData, a videogame market research firm. In December 2016 alone, Naughty America's customers downloaded more than 20 million VR videos, the company said. VR porn consumers are also more willing to pay for content than consumers of typical online porn. -
How Cheap Smartphones Siphon User Data in Developing Countries (wsj.com)
Newley Purnell, reporting for WSJ: For millions of people buying inexpensive smartphones in developing countries where privacy protections are usually low, the convenience of on-the-go internet access could come with a hidden cost: preloaded apps that harvest users' data without their knowledge. One such app, included on thousands of Chinese-made Singtech P10 smartphones sold in Myanmar and Cambodia, sends the owner's location and unique-device details to a mobile-advertising firm in Taiwan called General Mobile, or GMobi. The app also has appeared on smartphones sold in Brazil and those made by manufacturers based in China and India, security researchers say.
Taipei-based GMobi, with a subsidiary in Shanghai, says it uses the data to show targeted ads on the devices. It also sometimes shares the data with device makers to help them learn more about their customers. "If end users want a free internet service, he or she needs to suffer a little for better targeting ads," said a GMobi spokeswoman. [...] GMobi is one of several entities using the combination of low-cost smartphones and low regulations to siphon off reams of user data. Shanghai-based Adups and Indian digital advertising firm MoMagic offer similar firmware-updating services in partnership with smartphone makers. -
In This Economy, Quitters Are Winning (wsj.com)
An anonymous reader shares a report: Workers are choosing to leave their jobs at the fastest rate since the internet boom 17 years ago and getting rewarded for it with bigger paychecks and/or more satisfying work. Labor Department data show that 3.4 million Americans quit their jobs in April, near a 2001 peak and twice the 1.7 million who were laid off from jobs in April. Job-hopping is happening across industries including retail, food service and construction, a sign of broad-based labor-market dynamism. Workers have been made more confident by a strong economy and historically low unemployment, at 3.8% in May, the lowest since 2000. Ms. Enoch started getting interview opportunities the same day she began sending out applications online. The trend could stoke broader wage growth and improve worker productivity, which have been sluggish in the past decade. Workers tend to get their biggest wage increases when they move from one job to another. Job-switchers saw roughly 30% larger annual pay increases in May than those who stayed put over the past 12 months, according to the Federal Reserve Bank of Atlanta.