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US Justice Department Sues California Governor for Signing Net Neutrality Law

US Justice Department Sues California Governor for Signing Net Neutrality Law

A lawsuit was filed by the US Justice Department last Sunday against California governor Jerry Brown for signing legislation that would restore net neutrality. US Attorney General Jeff Sessions called the California state law an “extreme and illegal” attempt to frustrate federal policy. However, the Justice Department had already sought a preliminary injunction to block the the net neutrality law, which is set to take effect on January 1. The DoJ also warned tech companies that they “cannot realistically comply with one set of standards in this area for California and another for the rest of the nation — especially […]

Elon Musk to Step Down From Tesla Post

Elon Musk to Step Down From Tesla Post

Elon Musk and the US Securities and Exchange Commission reportedly came to an agreement this week after the Tesla CEO had been sued by the regulator for alleged securities fraud. The deal says that Musk will have to let go of his post in the electric car company after 3 years and pay with Tesla a $20 million fine. SEC Chairman Jay Clayton said that the agreement would be in the best interest of American investors and the company’s shareholders. The allegations pertain to Musk’s tweets last August where the billionaire said that he would be taking Tesla private and […]

Fidelity Ventures Into Blockchain, VR and AI

Fidelity Ventures Into Blockchain, VR and AI

Rich Repetto, principal at Sandler O’Neill & Partners recently said that one of the oldest financial services firm in the US, Fidelity, is a “sleeping giant” and is actually a tech company unbeknownst to many. The 72-year old firm spends around $2.5 billion a year developing technology such as artificial intelligence, blockchain, and virtual reality through its Fidelity Labs and Fidelity Center for Applied Technology. Mayar, the head of AI at the Boston-based financial giant, also revealed that they were able to amass an enormous amount of data within 72 years, an advantage they have over companies such as Microsoft […]

Chinese Tech Giant Tencent Restructures After 6 Years

Chinese Tech Giant Tencent Restructures After 6 Years

Tencent, one of China’s leading internet companies, has announced this week that it will be consolidating three of its content business groups into one unit. Restructuring for the first time in 6 years, it will also be creating a new group for cloud and smart industries. It is said that the firm had been prompted to restructure due to tightening government regulations, particularly on video games which caused a dip in the company’s quarterly profit for the first time in 13 years.   The move is also expected to improve the cloud-based data services, and boost content offering capabilities for […]

Massive Botnet Hijacks Traffic for Brazilian Banking Sites

Massive Botnet Hijacks Traffic for Brazilian Banking Sites

Cybersecurity company Qihoo 360 revealed this week that a botnet composed of over 100,000 routers was being used by a malicious group to hijack traffic meant for e-banking pages of banks in Brazil. The Chinese firm’s Netlab division said that around 88% of the affected routers are in Brazil, and another security firm, Radware, said that the group had been running the campaign at least since mid-August. Netlab researchers also warned that the hackers are scanning Brazil’s IP space for routers that have little or no security to replace legitimate DNS settings with the IPs of servers under their control. […]

Major International Ports Hit by Cyber Attacks

Major International Ports Hit by Cyber Attacks

Security experts revealed this week that an unknown threat actor had been targeting major international ports this week, with the Port of San Diego being its latest victim. The attack happened only five days after the Port of Barcelona had been hit. The Spanish port said that the cyberattack did not affect the movement of ships and caused only minimal disruptions, although a local paper reported that land operations had been impacted. Port of San Diego CEO Randa Coniglio, meanwhile said that the attack had limited employee capabilities, and may cause temporary impact to public services such as park permits, […]

Hackers Likely to Use “Virtual Singapore” Project for Plotting Terror Attacks  

Hackers Likely to Use “Virtual Singapore” Project for Plotting Terror Attacks  

The director of programs at Singapore’s National Research Foundation said this week that the Virtual Singapore project will be a hot target for hackers as it could be used for effectively plotting terror attacks. George Loh, who led the development of the project for the Prime Minister’s Office of Singapore, says that while the project will be instrumental in improving the lives of Singaporeans, they need to think two or three steps ahead as it could also create big problems when used by malicious actors. The Virtual Singapore Project, a digital version of the city-state, is considered to be one […]

Photos of the Post Launch Press Conference after a successful launch of SpaceX CRS-8 and successful landing of the Falcon 9 rocket on the barge.

SEC Sues Tesla’s Musk for Fraud

The US Securities and Exchange Commission had filed a complaint against Tesla CEO Elon Musk this week for allegedly making “false and misleading tweets” about taking his company private last month. The US regulator is accusing Musk of fraud and wishes to remove him from his role in Tesla. However, analysts say that the move would deal a big blow to the electric car company since Musk’s leadership has always been key to maintaining its investor’s confidence. The lawsuit was set in motion by Musk’s tweet last August where he told around 22 million of his followers that he is […]

Google CEO to Meet Republican Lawmakers Despite Criticisms

Google CEO to Meet Republican Lawmakers Despite Criticisms

Google CEO Sundar Pichai will be meeting Republican lawmakers to answer questions on data privacy and the company’s alleged bias against conservatives. The meeting, which will be hosted by House of Representatives Majority Leader Kevin McCarthy, will be attended by around two dozen more Republican officials. A staunch critic of Google, McCarthy said that the search giant will have to address accusations being hurled against it, such as violations of user privacy, search results bias, anti-competitive behavior, and its operations in repressive regimes such as China. Pichai already said last week that the company would not engage in influencing its […]

ATM “Jackpotter” Gets 12 Month Sentence in the US

ATM “Jackpotter” Gets 12 Month Sentence in the US

A 22-year old hacker named Argenys Rodriguez was sentenced this week in the US for “jackpotting” ATM machines ATMs located across Connecticut (cities of Cromwell, Hamden, and Guilford) and Rhode Island (city of Providence). Rodriguez was arrested along with a Spanish national named Alex Alberto Fajin-Diaz after they were reported by employees of Citizens Bank’s Cromwell branch. The two were caught in the act of jackpotting another ATM in the vicinity. Rodriguez is the first ATM jackpotter to be sentenced in the US. Aside from a 12-month jail term, he will also have to pay restitution in the amount of […]