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New Gmail Attack Bypasses Passwords and 2FA To Read All Email

Tue, 2022-08-02 17:25
An anonymous reader quotes a report from Forbes: According to cyber security firm Volexity, the threat research team has found the North Korean 'SharpTongue' group, which appears to be part of, or related to, the Kimsuky advanced persistent threat group, deploying malware called SHARPEXT that doesn't need your Gmail login credentials at all. Instead, it "directly inspects and exfiltrates data" from a Gmail account as the victim browses it. This quickly evolving threat, Volexity says it is already on version 3.0 according to the malware's internal versioning, can steal email from both Gmail and AOL webmail accounts, and works across three browsers: Google Chrome, Microsoft Edge, and a South Korean client called Whale. The U.S. Cybersecurity & Infrastructure Security Agency, CISA, reports that Kimsuky has been operating since 2012, and is "most likely tasked by the North Korean regime with a global intelligence gathering mission." While CISA sees Kimsuky most often targeting individuals and organizations in South Korea, Japan, and the U. S., Volexity says that the SharpTongue group has frequently been seen targeting South Korea, the U. S. and Europe. The common denominator between them is that the victims often " work on topics involving North Korea, nuclear issues, weapons systems, and other matters of strategic interest to North Korea." The report says that SHARPEXT differs from previous browser extensions deployed by these hacking espionage groups in that it doesn't attempt to grab login credentials but bypasses the need for these and can grab email data as the user reads it. The good news is that your system needs to be compromised by some means before this malicious extension can be deployed. Unfortunately, we know all too well that system compromise is not as difficult as it should be. Once a system has been compromised by phishing, malware, unpatched vulnerabilities, whatever, the threat actors can install the extension using a malicious VB script that replaces the system preference files. Once that's done and the extension runs quietly in the background, it is tough to detect. The user logs in to their Gmail account from their normal browser on the expected system. The security researchers recommend "enabling and analyzing PowerShell ScriptBlock logging" to detect whether you've been targeted by this attack, reports Forbes. Additionally, they recommend reviewing installed extensions regularly, especially looking for ones you don't recognize or are not available from the Chrome Web Store.

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Attacks on Taiwan Websites Likely Work of Chinese 'Hacktivists'

Tue, 2022-08-02 16:45
Digital attacks against Taiwanese government websites ahead of U.S. House of Representatives Speaker Nancy Pelosi's arrival in Tapei on Tuesday were likely launched by Chinese activist hackers rather than the Chinese government, a cybersecurity research organisation said. From a report: The website of Taiwan's presidential office was targeted by a distributed denial of service (DDoS) attack on Tuesday and was at one point malfunctioning, the office said in a statement. Access to the website was restored within about 20 minutes of the attack, the statement said. Taiwanese government agencies were monitoring the situation in the face of "information warfare," a spokesperson later added. A government portal website and Taiwan's foreign ministry website were also temporarily taken offline on Tuesday. In a statement, the foreign ministry said both websites had been hit with up to 8.5 million traffic requests a minute from a "large number of IPs from China, Russia and other places."

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The Crypto Collapse Has Flooded the Market With Rolex and Patek

Tue, 2022-08-02 16:05
The collapse in cryptocurrencies is easing supply of the most sought after watches on the second-hand market, depressing prices for hard-to get-Patek Philippe and Rolex models. From a report: The supply of trophy watches such as the Rolex Daytona or Patek Nautilus 5711A "is now much larger," online-watch trading platform Chrono24 said in an emailed statement. The recent swoon in cryptocurrency valuations "has directly impacted pricing of luxury watches from brands like Rolex and Patek Philippe," said the company, which is based in Karlsruhe, Germany, and has more than half a million watches listed for sale on its website. The price decline for the most sought after models is the latest indication that the once soaring second-hand luxury watch market is starting to lose pace. Surging valuations for crypto currencies had minted a new class of luxury buyers, leading to an unprecedented price increase for models particularly from brands like Rolex, Audemars Piguet and Patek. Now that many digital tokens have been hammered, these consumers are going into reverse.

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Axie Infinity Has Left Filipino Gamers Despondent and in Debt

Tue, 2022-08-02 15:25
Andrew R Chow and Chad De Guzman, reporting for Time: Samerson Orias was working as a line cook last year in the rural Philippines when his friend told him he could make way more money playing a new video game. Orias was earning about 4,000 pesos a month (about $80, a little less than half the national minimum wage) making takoyaki -- Japanese octopus balls. His friend told him he and others were pocketing up to $600 a month playing Axie Infinity, a game fueled by cryptocurrency and NFTs. Orias, now 26, desperately needed an escape hatch from his financial woes: his mother had had a stroke and required medication, and electricity and grocery bills were stacking up. So he plunged into Axie, doing battle with cartoon monsters for hours deep into the night. He soon began earning cryptocurrency, which he converted into pesos, allowing him to take better care of his mother and his home. At the same time, thousands of young people in the Philippines were jumping headlong into the game. For a brief moment at the peak of crypto's astonishing 2021 boom, these young Filipino players were fulfilling a longtime dream of crypto's most ardent evangelists: that "play-to-earn" blockchain games like Axie could lead the way to a more equitable, opportunity-rich global economy. Fourteen months later, most Filipino players, including Orias, have exited the game nursing anger and anxiety -- and, in some cases, thousands of dollars down. Orias grew to hate playing the game. It was boring and stressful, he says, a common refrain among the dozen players TIME interviewed for this story. "I felt fatigued all the time. I became more aggressive in every aspect of my life," he says. The story of Orias and Axie Infinity serves as a cautionary tale for crypto and its bombastic rhetoric about changing the world. Many crypto thought leaders, when rebutting criticism about the unsavory aspects of the space, point to its impact in developing countries. But Orias and others say that Axie Infinity reinforced predatory systems and gave them false hope. Innovative metaverse ideas like Axie Infinity offer immense promise -- but also tangible peril for those who feel they have no other option but to take the plunge into the digital unknown. The game initially made a huge impact in the Philippines. At one point, players there made up 40% of the game's user base.

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Forsage Crypto Executives Charged With Running $300 Million Ponzi Scheme

Tue, 2022-08-02 14:46
Eleven people who ran and promoted cryptocurrency firm Forsage are facing charges of operating a pyramid and Ponzi scheme that raised more than $300 million from millions of investors in the U.S. and elsewhere, according to the Securities and Exchange Commission. From a report: The Forsage executives posted videos that promised huge returns for investors, with one calling it "a powerful long-term source of passive income" and telling viewers, "Forsage means fast and furious." But securities regulators allege the service's founders weren't providing an investment strategy, but rather running a pyramid scheme, where investors made money by recruiting others. Also, earlier investors were paid through the money invested by newer customers, the hallmark of a classic Ponzi structure. The charges underscore the financial risks of a sector that has drawn a fair share of fraudsters and scammers, aside from the massive price plunges that cryptocurrencies have experienced this year. In the case of Forsage, the service was created in 2020 and targeted retail investors who wanted to enter into crypto transactions via so-called "smart contracts" that operated on the ethereum, tron and binance blockchains. In addition to the four founders, the SEC also charged three U.S.-based promoters hired by Forsage to tout the service as well as several members of the Crypto Crusaders, a promotional group for the service, the SEC said.

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The Dirty Carbon Secret Behind Solid State Memory Drives

Tue, 2022-08-02 14:45
Solid state drives use far less power than hard disc drives. But a new study unexpectedly reveals that their lifetime carbon footprint is much higher than their hard disc cousins, raising difficult questions for the computer industry. From a report: The benefits of SSDs over HDDs are legion. They are smaller, mechanically simpler, faster to read and write data than their hard disc cousins. They are also more energy efficient. So with many computer manufacturers and datacenter operators looking to reduce their carbon footprints, it's easy to imagine that all this makes the choice of memory easy. But all is not as it seems, say Swamit Tannu at University of Wisconsin in Madison and Prashant Nair at the University of British Columbia in Vancouver. SSDs have a dirty secret. Tannu and Nair have measured the carbon footprint per gigabyte of these devices across their entire lifetimes and, unexpectedly, it turns out that SSDs are significantly dirtier. "Compared to SSDs, the embodied [carbon] cost of HDDs is at least an order of magnitude lower," say the researchers. Tannu and Nair come to their conclusion by adding up the amount of carbon emitted throughout the estimated 10-year lifespans of these devices. This includes the carbon emitted during manufacture, during operation, for transportation and for disposal. The carbon emitted during operation is straightforward to calculate. To read and write data, HDDs consume 4.2 Watts versus 1.3W for SSDs. The researchers calculate that a 1 terabyte HDD emits the equivalent of 159 kilograms of carbon dioxide during a 10-year operating lifespan. By comparison, a 1 terabyte SSD emits just 49.2 kg over 10 years. But SSDs are significantly more carbon intensive to manufacture. That's because the chip fabrication facilities for SSDs operate at extreme temperatures and pressures that are energy intensive to maintain. And bigger memories require more chips, which increases the footprint accordingly. All this adds up to a significant carbon footprint for SSD manufacture. Tannu and Nair calculate that manufacturing a 1 terabyte SSD emits the equivalent of 320 kg of carbon dioxide. By comparison, a similar HDD emits just 40 kg. So the lifetime footprint for a 1 terabyte SSD is 369.2 kg of carbon dioxide equivalent versus 199 kg for an HDD. So HDDs are much cleaner. That's a counterintuitive result with important implications. At the very least, it suggests that computer manufacturers and cloud data storage operators should reconsider the way they use SSDs and HDDs. For example, almost 40 per cent of the carbon footprint of a desktop computer comes from its SSD, compared to just 4 per cent from the CPU and 11 per cent from the GPU.

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Post-Quantum Encryption Contender is Taken Out by Single-Core PC and 1 Hour

Tue, 2022-08-02 14:05
In the US government's ongoing campaign to protect data in the age of quantum computers, a new and powerful attack that used a single traditional computer to completely break a fourth-round candidate highlights the risks involved in standardizing the next generation of encryption algorithms. From a report: Last month, the US Department of Commerce's National Institute of Standards and Technology, or NIST, selected four post-quantum computing encryption algorithms to replace algorithms like RSA, Diffie-Hellman, and elliptic curve Diffie-Hellman, which are unable to withstand attacks from a quantum computer. In the same move, NIST advanced four additional algorithms as potential replacements pending further testing in hopes one or more of them may also be suitable encryption alternatives in a post-quantum world. The new attack breaks SIKE, which is one of the latter four additional algorithms. The attack has no impact on the four PQC algorithms selected by NIST as approved standards, all of which rely on completely different mathematical techniques than SIKE.

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Meta Sued For Violating Patient Privacy With Data Tracking Tool

Tue, 2022-08-02 13:25
Facebook's parent company Meta and major US hospitals violated medical privacy laws with a tracking tool that sends health information to Facebook, two proposed class-action lawsuits allege. From a report: The lawsuits, filed in the Northern District of California in June and July, focus on the Meta Pixel tracking tool. The tool can be installed on websites to provide analytics on Facebook and Instagram ads. It also collects information about how people click around and input information into those websites. An investigation by The Markup in early June found that 33 of the top 100 hospitals in the United States use the Meta Pixel on their websites. At seven hospitals, it was installed on password-protected patient portals. The investigation found that the tool was sending information about patient health conditions, doctor appointments, and medication allergies to Facebook.

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OpenCAPI To Fold Into CXL - CXL Set To Become Dominant CPU Interconnect Standard

Tue, 2022-08-02 12:42
With the 2022 Flash Memory Summit taking place this week, not only is there a slew of solid-state storage announcements in the pipe over the coming days, but the show is also increasingly a popular venue for discussing I/O and interconnect developments as well. Kicking things off on that front, on Monday the OpenCAPI and CXL consortiums issued a joint announcement that the two groups will be joining forces, with the OpenCAPI standard and the consortium's assets being transferred to the CXL consortium. From a report: With this integration, CXL is set to become the dominant CPU-to-device interconnect standard, as virtually all major manufacturers are now backing the standard, and competing standards have bowed out of the race and been absorbed by CXL. Pre-dating CXL by a few years, OpenCAPI was one of the earlier standards for a cache-coherent CPU interconnect. The standard, backed by AMD, Xilinx, and IBM, among others, was an extension of IBM's existing Coherent Accelerator Processor Interface (CAPI) technology, opening it up to the rest of the industry and placing its control under an industry consortium. In the last six years, OpenCAPI has seen a modest amount of use, most notably being implemented in IBM's POWER9 processor family. Like similar CPU-to-device interconnect standards, OpenCAPI was essentially an application extension on top of existing high speed I/O standards, adding things like cache-coherency and faster (lower latency) access modes so that CPUs and accelerators could work together more closely despite their physical disaggregation.

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Broadband Subscriber Growth Slows To Pre-Pandemic Levels

Tue, 2022-08-02 12:00
Cable companies are being downgraded by Wall Street analysts in response to weak broadband growth coming out of the pandemic. From a report: Cable companies have managed to stay afloat amid the cord-cutting crisis thanks to their booming broadband businesses. But some analysts see that safety net beginning to fade. Jonathan Chaplin, managing partner at New Street Research, wrote in two notes to clients that the firm has lowered its broadband subscriber estimates for the second time this year for both Charter and Comcast. "We have limited conviction in a quick recovery, given limited visibility all around," he wrote regarding Charter. "We are hoping for a turnaround later in the quarter but have low conviction," he wrote regarding Comcast. Comcast's stock slid last week after it reported flat broadband subscriber additions for the second quarter of 2022. The telecom giant was still able to increase broadband revenues, but its growth has been slowed by increased competition and more users relying on mobile hotspots and fixed wireless plans. Charter lost broadband subscribers for the first time last quarter. Executives cited customers rolling off the government's broadband subsidy program as a major contributor to its customer loss. "Excluding that headwind, we organically grew 38,000 internet customers in the quarter," Charter chief financial officer Jessica Fischer told investors.

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US To Stop TSMC, Intel From Adding Advanced Chip Fabs in China

Tue, 2022-08-02 11:24
As the US Congress passed an historic $52 billion federal program to boost domestic chipmaking capabilities, it included one significant caveat: Companies that receive the funding have to promise not to increase their production of advanced chips in China. From a report: It's a condition that will certainly add to escalating tensions between Washington and Beijing. The curbs will hit companies like Intel Corp. and Taiwan Semiconductor Manufacturing Co., leading chipmakers that have tried to build their businesses in China. TSMC won't be able to substantially upgrade or expand its existing facilities, effectively losing some growth opportunities in the world's biggest semiconductor market. Specifically, the Chips and Science Act bars companies that get federal funding from materially expanding production of chips more advanced than 28-nanometers in China -- or a country of concern like Russia -- for 10 years. While 28-nanometer chips are several generations behind the most cutting-edge semiconductors available now, they are still used in a wide range of products including cars and smartphones. The ban covers both logic and memory chips.

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US Crypto Firm Nomad Hit By $190 Million Theft

Tue, 2022-08-02 10:45
U.S. crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said on Tuesday, the latest such heist to hit the digital asset sector this year. From a report: Nomad said in a tweet that it was "aware of the incident" and was currently investigating, without giving further details or the value of the theft. Crypto analytics firm PeckShield told Reuters $190 million worth of users' cryptocurrencies were stolen, including ether and the stablecoin USDC. Other blockchain researchers put the figure at over $150 million.

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Indonesia Unblocks Steam and Yahoo, But Fortnite and FIFA Are Still Banned

Tue, 2022-08-02 10:26
Indonesia has lifted its ban on Steam and Yahoo now that both companies complied with the country's restrictive laws that regulate online activity. From a report: The Indonesian Ministry of Communication and Information (Kominfo) announced the news in a translated update on Twitter, noting that Counter-Strike: Global Offensive and Dota 2 are back online as well. Last week, Indonesia blocked access to Steam, PayPal, Yahoo, Epic Games, and Origin after the companies failed to meet a deadline to register with the country's database. This requirement is bundled with a broader law, called MR5, that Indonesia first introduced in 2020. The law gives the Indonesian government the authority to order platforms to take down content considered illegal as well as request the data of specific users. In 2021, the digital rights group Electronic Frontier Foundation (EFF) called the policy "invasive of human rights." Although PayPal has yet to comply, Indonesia unblocked access to the service for five days starting July 31st to give users a chance to withdraw money and make payments. According to the Indonesian news outlet Antara News, PayPal reportedly plans on registering with the country's database soon.

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Research Shows Why Many Anti-Piracy Messages Fail

Tue, 2022-08-02 09:00
An anonymous reader quotes a report from TorrentFreak: You wouldn't steal a car, right? So why are you pirating? With this 2004 message, the movie industry hoped to turn illegal downloaders into paying customers. This campaign eventually turned into a meme and it's not the only anti-piracy advert to miss the mark. A new research paper identifies several behavioral insights that explain common mistakes made in these campaigns. [...] The general assumption of many people is that, by adding more arguments, the message will be more compelling. That's called the 'more-is-better' heuristic but behavioral research has shown that the opposite is often true. When many arguments are presented together, the stronger ones may actually be diluted by weaker ones. So, referencing malware, fines, low quality, Internet disconnections, and losses to the industry, all while associating piracy with organized crime, is not the best idea. The reduced impact of stronger and weaker arguments is also one of the reasons why the "You Wouldn't Steal a Car" campaign didn't work as planned, the researchers suggest. Anti-piracy campaigns can also focus too much on dry numbers without putting these into context. While these statistics are vital to the industry, the average pirate will simply gloss over them. This 'mistake' can also be explained by behavioral psychology, which has shown that people identify more with a problem or victim if they feel some kind of personal connection. That's often missing from anti-piracy messages. It's worth noting that not all personal messaging is effective either. The paper mentions an Indian anti-piracy campaign where famous Bollywood actors urged people not to download films illegally, equating piracy to theft. However, the Indian public probably has little sympathy for the potential "losses" incurred by these multi-millionaire actors. In fact, the anti-piracy campaign may be seen as an extra motivation to pirate. "All videos starred well-known actors, whose net worth is estimated to be $22-$400 million dollars, in a country where the annual per capita income is a bit less than $2,000." "This can offer to pirates a moral justification: they only steal the rich to 'feed the poor', a form of 'Robin Hood effect' that makes even more sense with some cultural or sport-related goods," the researchers add. Piracy is a widespread and global phenomenon. This makes it particularly problematic for copyright holders but emphasizing this issue in anti-piracy messages isn't a good idea. This is the third mistake that's highlighted in the article. By pointing out that people are supposed to get content legally while at the same time showing that many people don't, people might actually be encouraged to pirate. Behavioral research has shown that people often prefer to follow the descriptive norm (what people do) rather than the injunctive one (what the law prescribes). "Informing directly or indirectly individuals that many people pirate is counterproductive and encourages piracy by driving the targeted individuals to behave similarly. These messages provide to the would-be pirates the needed rationalization by emphasizing that 'everyone is doing it'," the researchers write.

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Scientists Create Synthetic Mouse Embryos

Tue, 2022-08-02 06:00
Stem cell researchers in Israel have created synthetic mouse embryos without using a sperm or egg, then grown them in an artificial womb for eight days, a development that opens a window into a fascinating, potentially fraught realm of science that could one day be used to create replacement organs for humans. The Washington Post reports: The objective, scientists involved with the research said, is not to create mice or babies outside the womb, but to jump-start the understanding of how organs develop in embryos and to use that knowledge to develop new ways to heal people. From a clump of embryonic stem cells, scientists at the Weizmann Institute of Science created synthetic embryos that closely resembled real mouse embryos, with rudimentary beating hearts, blood circulation, folded brain tissue and intestinal tracts. The mouse embryos grew in an artificial womb and stopped developing after eight days, about a third of a mouse pregnancy. The research, published Monday in the journal Cell, is far from growing a mouse, much less a human, outside the womb. It was a proof of concept that a complete synthetic embryo could be assembled from embryonic stem cells, and while the researchers were successful, it was a highly error-prone process, with only a small fraction of embryos going on to develop the beginnings of a beating heart and other organs. Although the synthetic mouse embryos bore a close resemblance to natural mouse embryos, they were not exactly the same and did not implant or result in pregnancies in real mice, according to Jacob Hanna, the stem cell scientist at the Weizmann Institute of Science who led the work. The research, like other recent studies, puts the possibility of a complete human synthetic embryo on the horizon, several researchers said, making it necessary to continue a societal discussion about how these entities should be handled. Last year, the International Society for Stem Cell Research relaxed a historical "14-day rule" that said researchers could grow natural embryos for only 14 days in the laboratory, allowing researchers to seek approval for longer studies. Human embryo models are banned from being implanted into a uterus.

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Blowhole Wave Energy Generator Exceeds Expectations In 12-Month Test

Tue, 2022-08-02 03:00
Wave Swell Energy's remarkable UniWave 200 is a sea platform that uses an artificial blowhole formation to create air pressure changes that drive a turbine and feed energy back to shore. After a year of testing, the company reports excellent results. New Atlas reports: As we've discussed before, the UniWave system is a floating device that can be towed to any coastal location and connected to the local energy grid. It's designed so that wave swells force water into a specially designed concrete chamber, pressurizing the air in the chamber and forcing it through an outlet valve. Then as the water recedes, it generates a powerful vacuum, which sucks air in through a turbine at the top and generates electricity that's fed into the grid via a cable. As a result, it draws energy from the entire column of water that enters its chamber, a fact the team says makes it more efficient than wave energy devices that only harvest energy from the surface or the sea floor. [...] A 200-kW test platform was installed last year off King Island, facing the notoriously rough seas of Bass Strait, which separates the island state of Tasmania from the mainland of Australia. There, it's been contributing reliable clean energy to the island's microgrid around the clock for a full 12 months. The WSE team has made a few live tweaks to the design during operation, improving its performance beyond original expectations. "We set out to prove that Wave Swell's wave energy converter technology could supply electricity to a grid in a range of wave conditions, and we have done that," said WSE CEO Paul Geason in a press release. "One key achievement has been to deliver real-world results in Tasmanian ocean conditions to complement the AMC test modeling. In some instances, the performance of our technology in the ocean has exceeded expectations due to the lessons we've learnt through the project, technological improvements and the refinements we have made over the course of the year." "Our team is excited to have achieved a rate of conversion from wave power to electricity at an average of 45 to 50% in a wide range of wave conditions," he continues. "This is a vast improvement on past devices and shows that the moment has arrived for wave power to sit alongside wind, solar and energy storage as part of a modern energy mix." The King Island platform will remain in place at least until the end of 2022, and the company is now gearing up to go into production. "Having proven our device can survive the toughest conditions the Southern Ocean and Bass Strait can throw at it, and deliver grid compliant electricity, our priority now shifts to commercializing the technology," said Gleason. "For Wave Swell this means ensuring the market embraces the WSE technology and units are deployed to deliver utility scale clean electricity to mainland grids around the world."

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Too Many Servers Could Mean No New Homes In Parts of the UK

Mon, 2022-08-01 23:30
An anonymous reader quotes a report from Gizmodo: Data centers have caused skyrocketing power demand in parts of London. Now, new housing construction could be banned for more than a decade in some neighborhoods of the UK's biggest city because the electricity grid is reaching capacity, as first reported on by the Financial Times. The reason: too many data centers are taking up too much electricity and hogging available fiber optic cables. The Financial Times obtained multiple letters sent from the city's government, the Greater London Authority (GLA), to developers. "Major new applicants to the distribution network... including housing developments, commercial premises and industrial activities will have to wait several years to receive new electricity connections," said one note, according to the news outlet. The GLA also confirmed the grid issue to Gizmodo in an email, and sent along text from one of the letters, which noted that for some areas utilities are saying "electricity connections will not be available for their sites until 2027 to 2030." Though the Financial Times reported that at least one letter indicated making the necessary electric grid updates in London could take up until 2035. [...] "Data centres use large quantities of electricity, the equivalent of towns or small cities, to power servers and ensure resilience in service," one of the GLA letters seen by the Financial Times reportedly said. [...] Developers are "still getting their heads round this, but our basic understanding is that developments of 25 units or more will be affected. Our understanding is that you just can't build them," said David O'Leary, policy director at the Home Builders Federation, a trade body. Combined, those sections of London contain about 5,000 homes and make up about 11% of the city's housing supply, according the Financial Times. A spokesperson for the London Mayor told Gizmodo in a statement: "The Mayor is very concerned that electricity capacity constraints in three West London boroughs are creating a significant challenge for developers securing timely connections to the electricity network, which could affect the delivery of thousands of much-needed homes...The increased demand for electricity capacity in the area is believed to be largely due to a rapid influx of batteries and data centers."

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US Authorities Threaten Alibaba With NYSE Delisting

Mon, 2022-08-01 22:02
Chinese tech giant Alibaba is the latest company to run afoul of the US Securities and Exchange Commission, which has threatened delisting from US stock exchanges. The Register reports: Alibaba's addition to the SEC's list of nearly 300 companies -- mostly from China -- means that US officials were unable to complete an audit of the company's finances. The 2020 Holding Foreign Companies Accountable Act (HFCAA) gives the SEC the authority to delist companies if it is suspected that financial audits may not be accurate. The news hit Alibaba stock hard on Friday, causing it to drop from $100.52 to $89.37 through the day. In a statement sent to the SEC on Monday, Alibaba said it would "strive to maintain its listing status," and that it would continue to monitor market developments and comply with applicable laws and regulations. Addition to the SEC's HFCAA list doesn't mean that Alibaba will immediately be removed from the New York Stock Exchange (NYSE). Instead, the notice marks the company's first "non-inspection" year; Alibaba is only actually in danger of delisting if it hands in two more consecutive annual reports that run afoul of the HFCAA. The report that landed the company under scrutiny covered Alibaba's fiscal year ending on March 31, 2022. Companies on the provisional HFCAA list have 15 business days to dispute addition to the list. Along with Alibaba's inclusion last week, pet company Boqii, Cheetah Mobile, ecommerce platform MOGU, manufacturing business Highway Holdings and logistics company Novagant Corp -- all from China or Hong Kong -- were added.

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Intel To Introduce Wi-Fi 7 In 2024 As Apple Plans Imminent Move To Wi-Fi 6E

Mon, 2022-08-01 21:25
According to a new report from ETNews, Intel is planning to install its next-generation Wi-Fi 7 (802.11be) technology in devices by 2024 as Apple transitions its devices to Wi-Fi 6E. MacRumors reports: Wi-Fi 7 is the successor to Wi-Fi 6E (802.11ax), bringing two times faster data processing speeds of 5.8 Gbps and more stable 6 GHz bandwidth stability, as well as support for up to 36 Gbps when working with data. Intel plans to expand its Wi-Fi 7 development efforts ahead of its introduction to the market in 2024 and intends to apply its technology predominantly in laptops before expanding to other devices. "We are currently developing Intel's Wi-Fi '802.11be' in order to obtain the 'Wi-Fi Alliance' certification, and it will be installed in PC products such as laptops by 2024. We expect it to appear in major markets in 2025," Eric McLaughlin, vice president of Intel's wireless solutions division, said at a recent press conference in Asia. Meanwhile, Apple is on the cusp of transitioning its devices to Wi-Fi 6E. While it was heavily rumored to debut with the iPhone 13 lineup last year, Apple has yet to release any devices with support for Wi-Fi 6E. That is expected to change this year starting with the iPhone 14. Apple's long-rumored mixed-reality headset is also expected to feature Wi-Fi 6E. Apple analyst Ming-Chi Kuo said that head-mounted display devices in 2022, 2023, and 2024 will offer Wi-Fi 6/6E, Wi-Fi 6E/7, and Wi-Fi 7, respectively, but it is unclear if this information was related to Apple's product roadmap specifically. "Wi-Fi 6E offers the features and capabilities of Wi-Fi 6, including higher performance, lower latency, and faster data rates, extended into the 6 GHz band for processing speeds of 2.4 Gbps," notes MacRumors. "The additional spectrum provides more airspace beyond existing 2.4GHz and 5GHz Wi-Fi, resulting in increased bandwidth and less interference." Other tech giants like Qualcomm, Broadcom, and MediaTek are also planning to release Wi-Fi 7-based products in the next few years.

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What 21 Billion Facebook Friendships Say About the Economic Ladder In the US

Mon, 2022-08-01 20:45
Meta publicly released information on 21 billion Facebook friendships as part of a research project looking at economic inequality in the United States, the company announced today. Along with new insights into the intersection of money and friendships in America, the partnership between Meta and the researchers gives us another look at who Facebook is willing to share data with -- and why. The Verge reports: The research team wanted to understand why people in some places in the US were more likely to move between economic brackets than in others. Using the information from Meta, along with other data, a research team built a dataset for a pair of studies on economic mobility, published Monday in the journal Nature. One study found that people who grow up in areas where there are more friendships between high- and low-income people are more likely to move out of poverty and up the economic ladder. "Growing up in a community connected across class lines improves kids' outcomes and gives them a better shot at rising out of poverty," Raj Chetty, a Harvard economist and lead researcher on the study, told The New York Times. Many places, though, don't allow for much interaction between high- and low-income people, the second of the two studies found. And even when a neighborhood does allow for that kind of interaction, people are still more likely to befriend people in similar economic brackets. [...] [T]he full dataset, which covers 21 billion Facebook friendships, is available through Facebook's Data for Good program. People can search the public-facing website and see the economic connectedness of various communities, including their own. Researchers can download the data for additional studies. [...] The new studies offer valuable insight into economic mobility in the US, and the data could help researchers understand how people in the US build relationships.

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