Category: Business & Economy

Over the past two decades, online piracy has proven a massive challenge for the entertainment industries. It’s a global issue that’s hard to contain, but various anti-piracy group are doing their best to fight back. There’s a seemingly perpetual stream of takedowns, as evidenced by press releases that come out every week. However, some targets are particularly resistant to enforcement…

  Microsoft says a Chinese-backed threat group tracked as ‘Storm-0062’ (aka DarkShadow or Oro0lxy) has been exploiting a critical privilege escalation zero-day in the Atlassian Confluence Data Center and Server since September 14, 2023. Atlassian had already notified customers about the active exploitation status of CVE-2023-22515 when it disclosed it on October 4, 2023. Still, the company withheld specific details on the…

  PARIS — Germany will send about €1 billion (U.S. $1.1 billion) worth of air defense systems to Ukraine as part of a second “winter package” for the embattled country, the German Defence Ministry said in a statement Tuesday. The support will include a Patriot air defense system and two IRIS-T surface-to-air systems, as well as 10 more Leopard 1…

  FRANKFURT – The German government slashed its growth forecast on Wednesday, predicting Europe’s top economy will shrink this year as it battles high inflation, elevated energy prices and a manufacturing slump. Output will shrink 0.4 per cent, the economy ministry said in its latest projections. This is a marked downgrade from its last estimate in April, when Berlin forecast…

  The US Army has announced the successful trial of a military version of Elon Musk’s “Starlink” communications network. Called the “Starshield,” the technology utilizes low Earth orbit satellites to create a more secure network for soldiers. It will serve as a “redundant” or backup system in case the service’s main communications system gets jammed by enemies. “We’ve done some…

Suavecito was the first product that Douglas Mrdeza listed to sell on Amazon back in 2014. He had ordered a bit too much of the specialty hair pomade for his barbershop in East Lansing, Michigan. He wanted to see whether he could offload some online. It sold out. So, he ordered more. This time he paid Amazon some extra money…

JERUSALEM – The Bank of Israel said on Monday it will sell up to US$30 billion (S$41 billion) of foreign currency in the open market, in the central bank’s first ever sale of foreign exchange, to maintain stability during Israel’s war with Palestinian militants in Gaza. The move appeared to quickly calm the market as the shekel recovered from steep…

In just a few months, “AI Hub” became a massively popular Discord server with over half a million members. While copyright infringement was strictly forbidden, not all users stuck to the rules. This previously raised the attention of the RIAA, and now appears to have caused the server’s downfall after it was suddenly shut down. Artificial intelligence is booming. Dozens…

In letters sent to all insurance firms, the regulator reminded them of its expectations to make sure they’re checking their products are providing fair value to their customers. The FCA also identified further evidence that some Guaranteed Asset Protection (GAP) products may be failing to provide fair value to customers. This comes as the FCA publishes its latest insurance Value…

The information supplied by banks, building societies and payment companies suggests that no firm closed an account between July 2022 and June 2023 primarily because of a customer’s political views. The Payment Accounts Regulations ban banks or building societies discriminating on this basis. The FCA will be doing further work with firms to verify the data and to better understand…

Jerusalem – Azerbaijan’s space agency, Azercosmos, acquired two multi-spectral electro-optical spy satellites from Israel Aerospace Industries as part of the Azersky-2 program. The Azeri Agency and the Tel Aviv area-based company did not disclose the satellite model or value of the contract in announcing the deal, but both have previously said the agreement is worth about $120 million, and Defense…

I know many of you have heard this before, but Cory Doctorow’s “enshittification” concept is such a useful framework to think about things: first, companies are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. As I’ve highlighted,…

Russian air defenses shot down 31 Ukrainian drones during a concerted nighttime attack by Kyiv’s forces on border regions, the country’s Defense Ministry said Wednesday, as uncertainty grew over Ukraine’s future access to weapons and ammunition from its Western allies. The drone attack appeared to be Kyiv’s largest single cross-border drone assault reported by Moscow since it launched its invasion…

OTTAWA — Canadian Sikhs are grateful to Prime Minister Justin Trudeau for giving voice to their fears and standing up to India at the risk of a severe backlash from New Delhi, which he said could be linked to the killing of a Sikh separatist leader. The Indian government considered Hardeep Singh Nijjar, a Canadian citizen who was shot to…

Unintended Consequences We’ve spilled a great deal of ink discussing the GDPR and its failures and unintended consequences. The European data privacy law that was ostensibly built to protect the data of private citizens, but which was also expected to result in heavy fines for primarily American internet companies, has mostly failed to do either. While the larger American internet…

WASHINGTON, Sept 28 (Reuters) – Republicans leading an impeachment inquiry of President Joe Biden detailed foreign payments to members of his family in their first hearing on Thursday, but did not provide evidence that the Democratic president had personally benefited. The initial impeachment hearing by the U.S. House of Representatives Oversight Committee served as a review of evidence that Republicans have…