Tuesday, 23 August 2022

Intel Signs $30 Billion Financing Deal With Brookfield to Expand Chip Factories

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Intel Signs $30 Billion Financing Deal With Brookfield to Expand Chip Factories

Intel is pulling an industry first, partnering with Brookfield Asset Management Inc to help fund its chip factory expansion.

Intel is working on expanding its US-based chip production as lawmakers look to help the US become less dependent on foreign semiconductor manufacturing. In an unprecedented move, Intel is partnering with Brookfield to help fund its $30 billion expansion plans, according to The Wall Street Journal.

Intel will fund 51% of the expansion, with Brookfield funding the rest. Intel and Brookfield will split ownership of the financing entity that will own the factories, as well as the resulting profits, although Intel will retain majority ownership.

While the financing arrangement is new for the semiconductor industry, it’s a relatively common practice in others, such as telecommunications and energy. Given the challenges Intel is facing, not the least of which is the surprise $500 million loss the company recently reported, the deal made sense.

“We have gotten behind, and that requires a fairly aggressive investment cycle over the next few years, which is not a place Intel typically finds itself,” said Intel Chief Financial Officer David Zinsner.

Intel Signs $30 Billion Financing Deal With Brookfield to Expand Chip Factories
Matt Milano



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YouTube TV May Gain fuboTV’s Biggest Advantage

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YouTube TV May Gain fuboTV’s Biggest Advantage

YouTube TV (YTTV) may be on the verge of gaining one of fuboTV’s biggest advantages, a feature that will allow multiple simultaneous livestreams.

According to Protocol, YTTV is working on “Mosaic Mode,” a feature that will allow up to four simultaneous livestreams. The feature is designed to appeal to sports fans, giving them the ability to watch multiple games or events at the same time.

Rival fuboTV is currently one of the only streaming services that offer a similar feature. The service is geared toward sports fans, but has struggled over the last couple of years to deliver on that promise. For example, fuboTV lost the Turner family of channels, including both TBS and TNT, two channels that many sports fans consider must-haves.

With YTTV preparing to duplicate fuboTV’s signature feature, the latter service may lose what competitive advantage it had — even among its core market.

YouTube TV May Gain fuboTV’s Biggest Advantage
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Amazon Has a Prime Pharmacy Problem

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Amazon Has a Prime Pharmacy Problem

Amazon may be trying to lure people to its Amazon Prime with prescription cost savings, but customers aren’t buying it.

Amazon Prime is the company’s popular service that bundles free shipping and lower prices for members. The membership also comes with a variety of other services and features, but it seems that some of them are not very popular.

According to Business Insider, Morgan Stanley conducted a survey to see what services mattered most to Amazon Prime users. The survey found the company’s prescription service ranks dead last among the reasons people subscribe to Prime. In fact, only 2% cited Prime Pharmacy as the reason for signing up.

To put that in perspective, Prime Gaming, Echo/Alexa integration, and Amazon Fresh all ranked higher. The company chalked Prime Pharmacy’s lack of popularity up to its relative newness.

“To compare a newer Prime benefit like the Prime prescription savings benefit, to one like Prime Video or two-day delivery, isn’t a true apples to apples comparison. The Prime prescription savings benefit is relatively new, and we are committed over the long term to making healthcare services easier and more affordable,” the spokesperson told Insider.

Amazon has been aggressively moving into the healthcare industry, even rumored to be interested in Signify Health. Only time will tell if the company’s Prime Pharmacy eventually gains traction.

Amazon Has a Prime Pharmacy Problem
Matt Milano



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Twitter Whistleblower Lends Weight to Elon Musk’s Claims

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Twitter Whistleblower Lends Weight to Elon Musk’s Claims

Peiter Zatko, who served as Twitter’s head of cybersecurity, has filed a complaint with federal agencies and bolstered Elon Musk’s claims.

Zatko is the famous and well-respected hacker who goes by the handle “Mudge.” He served as Twitter’s cybersecurity head from late 2020, when he was hired by then-CEO Jack Dorsey until he was fired by the current CEO at the beginning of 2022. According to The Washington Post, he claims the company and CEO Parag Agrawal is intentionally misleading investors and regulators about the state of its security and its issues with spam bots.

“Agrawal’s Tweets and Twitter’s previous blog posts misleadingly imply that Twitter employs proactive, sophisticated systems to measure and block spam bots,” the complaint says. “The reality: mostly outdated, unmonitored, simple scripts plus overworked, inefficient, understaffed, and reactive human teams.”

That statement, as well as the complaint in general, will certainly bolster Elon Musk’s case against Twitter. The tech mogul is trying to back out of his deal to purchase the social media company based on his belief the company is not being truthful about the scope of its spam bot issues. He also claims the company has misled investors.

Read more: Elon Musk Accuses Twitter of Running a ‘Scheme’

Zatko also claims to have found multiple instances where Twitter was in violation of a 2011 settlement with the FTC, failing to implement security measures and properly protect users, as it had been ordered to do. While Twitter claims to have complied with its obligations, the sheer number of security breaches the company has faced — not to mention the ease with which the breaches occurred — lends weight to Zatko’s claims.

“If all of that is true, I don’t think there’s any doubt that there are order violations,” David C. Vladeck told the Post in an interview. Vladeck is now a Georgetown Law professor but previously served as director of the FTC’s bureau of consumer protection when the settlement was reached in 2011. “It is possible that the kinds of problems that Twitter faced eleven years ago are still running through the company.”

The complaint alleges Twitter has exceptionally poor security policies in place, policies that leave the company, its intellectual property, and its customers vulnerable to bad actors. Roughly 30% of the company’s laptops allegedly would not automatically update software to receive the latest security fixes. Even worse, Zatko says thousands of laptops had full copies of Twitter’s source code on them, a scenario that is a dream come true for hackers. Why waste time trying to penetrate a carefully secured and protected programming repository when stealing one of the thousands of available laptops will yield the same result?

See also: Elon Musk’s Twitter Cancellation Letter

“It’s near-incredible that for something of that scale there would not be a development test environment separate from production and there would not be a more controlled source-code management process,” Tony Sager, former chief operating officer at the cyberdefense wing of the National Security Agency, told the Post. “Almost any attack scenario is fair game and probably easily executed.”

The Post interviewed more than a dozen current and former employees for context. While some did say the company deployed extensive measures to fight spam, many agreed with much of Zatko’s complaint regarding the general state of security and dysfunction within the company.

For his part, Zatko sees blowing the whistle on Twitter as the final step in completing the job he was hired to do.

“This would never be my first step, but I believe I am still fulfilling my obligation to Jack and to users of the platform,” Zatko said. “I want to finish the job Jack brought me in for, which is to improve the place.”

Twitter Whistleblower Lends Weight to Elon Musk’s Claims
Matt Milano



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Hyundai Secures Its Vehicles Systems With Sample Encryption Keys

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Hyundai Secures Its Vehicles Systems With Sample Encryption Keys

In what may be one of the worst examples of cybersecurity, Hyundai is being called out for using example encryption keys for its security.

Encryption keys are critical components of modern cryptography. The key used to decrypt sensitive information is supposed to be carefully and closely guarded.

According to The Register, Hyundai’s programmers seemed to have missed the memo and instead used cryptographic keys found in publicly available programming tutorials.

A developer, going by the handle “greenluigi1,” discovered he could overwrite Hyundai’s infotainment system with his own software thanks to Hyundai using publicly available crypto keys. Once he discovered them, it was a relatively simple matter trick the system into accepting his software as a valid update.

The entire situation is a case study in bad programming, not to mention the danger drivers can be exposed to as a result. If a vehicle’s computer system is compromised, there’s no limit to the dangerous scenarios that can result if key parts of the vehicle’s software are replaced with malicious elements.

As manufacturers create vehicles that are increasingly connected to the rest of the world, they’re going to have to do a much better job securing those vehicles — or Hyundai will need to, at the very least.

Hyundai Secures Its Vehicles Systems With Sample Encryption Keys
Matt Milano



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Tesla Raises Price of Full-Self-Driving Software to $15,000

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Tesla Raises Price of Full-Self-Driving Software to $15,000

Tesla’s Full-Self-Driving (FSD) software has yet to fully live up to its name, but the company is still raising the price 25% to $15,000.

Tesla is just one of many automakers racing to develop autonomous driving capabilities, but few others have a CEO that is so open about the company’s goals and timeframes. As TheStreet points out, Musk has famously said his company would roll out fully autonomous driving capabilities by the end of the year.

In keeping with that goal, the company is deploying the latest FSD beta.

Musk also says the price will increase 25%, from $12,000 to $15,000 for North American buyers.

Tesla Raises Price of Full-Self-Driving Software to $15,000
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Oracle Faces Class Action Suit Over Its ‘Mass Surveillance’

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Oracle Faces Class Action Suit Over Its ‘Mass Surveillance’

Oracle is facing a class action lawsuit over what is being described as its “mass surveillance” of the general public.

Oracle is the world’s leading database provider and a popular cloud provider. The company is accused (PDF) of using its position and platforms to collect real-time data on hundreds of millions of users and selling it. The lawsuit alleges the data is being collected on the general public, including individuals who have no direct relationship with Oracle nor any ability to consent or object to the data collection.

This complaint sets forth how the regularly conducted business practices of defendant Oracle America, Inc. (“Oracle”) amount to a deliberate and purposeful surveillance of the general population via their digital and online existence. In the course of functioning as a worldwide data broker, Oracle has created a network that tracks in real-time and records indefinitely the personal information of hundreds of millions of people. Oracle sells this detailed personal information to third parties, either directly, or through its “ID Graph” and other related products and services derived from this data. The proposed Classes herein lack a direct relationship with Oracle and have no reasonable or practical basis upon which they could legally consent to Oracle’s surveillance.

The plaintiffs consist of Dr. Johnny Ryan, a Senior Fellow at the Irish Council for Civil Liberties, and a Senior Fellow at the Open Markets Institute; Dr. Jennifer Golbeck, an associate professor at the University of Maryland in College Park and Director of the Social Intelligence Lab; and Michael Katz-Lacabe, a privacy rights activist.

The plaintiffs make the case that company founder Larry Ellison set out to establish Oracle as a surveillance powerhouse.

According to Ellison, the purpose of Oracle ID Graph is to predict and influence the future behavior of billions of people. He explained Oracle could achieve this goal by looking at social activity and locations in real time, including “micro location[s].” For example, Ellison has represented that companies will be able to know how much time someone spends in a specific aisle of a specific store and what is in the aisle of the store. “By collecting this data and marrying it to things like micro location information, Internet users’ search histories, websites visits and product comparisons along with their demographic data, and past purchase data, Oracle will be able to predict purchase intent better than anyone.”

It’s unclear how successful the lawsuit will be. The US notoriously has no comprehensive privacy legislation, making any such lawsuit an uphill battle. At the same time, the lawsuit was filed in California, one of the few states in the US that does have privacy legislation.

If the plaintiffs are successful, it could have profound repercussions for the US data broker industry, an industry that is already under scrutiny from privacy-minded lawmakers.

Oracle Faces Class Action Suit Over Its ‘Mass Surveillance’
Matt Milano



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