Privacy

The DOJ Detected the SolarWinds Hack 6 Months Earlier Than First Disclosed (wired.com) 19

An anonymous reader quotes a report from Wired: The U.S. Department of Justice, Mandiant, and Microsoft stumbled upon the SolarWinds breach six months earlier than previously reported, WIRED has learned, but were unaware of the significance of what they had found. The breach, publicly announced in December 2020, involved Russian hackers compromising the software maker SolarWinds and inserting a backdoor into software served to about 18,000 of its customers. That tainted software went on to infect at least nine US federal agencies, among them the Department of Justice (DOJ), the Department of Defense, Department of Homeland Security, and the Treasury Department, as well as top tech and security firms including Microsoft, Mandiant, Intel, Cisco, and Palo Alto Networks. The hackers had been in these various networks for between four and nine months before the campaign was exposed by Mandiant.

WIRED can now confirm that the operation was actually discovered by the DOJ six months earlier, in late May 2020 -- but the scale and significance of the breach wasn't immediately apparent. Suspicions were triggered when the department detected unusual traffic emanating from one of its servers that was running a trial version of the Orion software suite made by SolarWinds, according to sources familiar with the incident. The software, used by system administrators to manage and configure networks, was communicating externally with an unfamiliar system on the internet. The DOJ asked the security firm Mandiant to help determine whether the server had been hacked. It also engaged Microsoft, though it's not clear why the software maker was also brought onto the investigation.

It's not known what division of the DOJ experienced the breach, but representatives from the Justice Management Division and the US Trustee Program participated in discussions about the incident. The Trustee Program oversees the administration of bankruptcy cases and private trustees. The Management Division advises DOJ managers on budget and personnel management, ethics, procurement, and security. Investigators suspected the hackers had breached the DOJ server directly, possibly by exploiting a vulnerability in the Orion software. They reached out to SolarWinds to assist with the inquiry, but the company's engineers were unable to find a vulnerability in their code. In July 2020, with the mystery still unresolved, communication between investigators and SolarWinds stopped. A month later, the DOJ purchased the Orion system, suggesting that the department was satisfied that there was no further threat posed by the Orion suite, the sources say.
According to WIRED, the DOJ said it "notified the US Cybersecurity and Infrastructure Agency (CISA) about the breach at the time it occurred -- though a US National Security Agency spokesperson expressed frustration that the agency was not also notified."

"But in December 2020, when the public learned that a number of federal agencies were compromised in the SolarWinds campaign -- the DOJ among them -- neither the DOJ nor CISA revealed to the public that the operation had unknowingly been found months earlier. The DOJ initially said its chief information officer had discovered the breach on December 24."
EU

ASML, Europe's Most Valuable Tech Firm, Is at the Heart of the US-China Chip War (bloomberg.com) 49

The low-profile firm that has become crucial to a half-trillion-dollar global industry. From a report: In 1984, Martin van den Brink, a young Dutch engineer, joined a newly created venture in a quiet corner of the Netherlands. Little did he know then that about 40 years on the company would be so crucial to the $580 billion semiconductor industry that it would be the epicenter of a US-China chip war. ASML Holding NV, where Van den Brink is now the chief technology officer, practically owns the market for a critical piece of equipment needed to produce the brains of everything that makes modern life possible -- from cars and smartphones to computers, microwaves and airplanes. With the company's high-end machines churning out chips that can also go into state-of-the-art weapons and artificial intelligence devices, ASML is effectively being treated as critical infrastructure for US national security and has become a target of industrial espionage for China. "I never expected to be where we are today," said Van den Brink.

Over his nearly four decades at the company, ASML has gone from a bit player competing with the likes of Nikon, Canon and Ultratech to the world's only maker of very high-end semiconductor lithography equipment. Its ascent has made it Europe's most valuable technology company, with a market capitalization of over $247 billion -- more than twice that of its customer Intel. In an industry where devices typically cost $10 million, ASML commands about $180 million for its current top-end machine. And although the chip market has softened recently, ASML is still growing and its long-term outlook seems intact, thanks to the insatiable demand for computing power.

"This is a company that the world can't exist without," said Jon Bathgate, a fund manager at NZS Capital in Denver, which has about $2 billion under management, with ASML as one of its biggest holdings. "They've got a 20-year head start... Investors have clearly realized how important ASML is as a company and how difficult it would be to replicate. It's a natural monopoly with secular growth winds. That's unique." As chips become for geopolitics in the 21st century what oil was in the last one, ASML's singular success has thrust it squarely in the crosshairs of the intensifying tensions between the US and China. With the US focused on the strategic importance of semiconductors, Presidents Donald Trump and Joe Biden have done everything to ensure that China is a couple of generations behind in chips. No company is more critical to that effort than ASML.

Businesses

Bosch To Buy Chipmaker TSI, Invest $1.5 Billion in US Plant (bloomberg.com) 8

Robert Bosch is acquiring US chipmaker TSI Semiconductors and plans to invest more than $1.5 billion in its California foundry, expanding the German company's global bet on chips. From a report: The world's biggest auto-parts supplier plans to retool and modernize TSI's Roseville site with a target to start producing silicon carbide chips there from 2026, Bosch said Wednesday. The company expects 30% annual demand growth for this type of chip, commonly used in power management that's beneficial to electric cars. "We step into a market which is developing very fast," Chief Executive Officer Stefan Hartung said in an interview with Bloomberg Television. "The new platforms of electric vehicles -- it doesn't matter where they are produced in the world -- are mostly betting on silicon carbide technology." Financial terms for the deal weren't disclosed beyond the planned investment at the foundry, which is also subject to regulatory approval. Bosch said the full scope of future spending will "heavily depend" on federal funding opportunities.
Open Source

Linux Kernel 6.3 Released (zdnet.com) 16

An anonymous reader quotes a report from ZDNet, written by Steven Vaughan-Nichols: The latest Linux kernel is out with a slew of new features -- and, for once, this release has been nice and easy. [...] Speaking of Rust, everyone's favorite memory-safe language, the new kernel comes with user-mode Linux support for Rust code. Miguel Ojeda, the Linux kernel developer, who's led the efforts to bring Rust to Linux, said the additions mean we're, "getting closer to a point where the first Rust modules can be upstreamed."

Other features in the Linux 6.3 kernel include support and enablement for upcoming and yet-to-be-released Intel and AMD CPUs and graphics hardware. While these updates will primarily benefit future hardware, several changes in this release directly impact today's users' day-to-day experience. The kernel now supports AMD's automatic Indirect Branch Restricted Speculation (IBRS) feature for Spectre mitigation, providing a less performance-intensive alternative to the retpoline speculative execution.

Linux 6.3 also includes new power management drivers for ARM and RISC-V architectures. RISC-V has gained support for accelerated string functions via the Zbb bit manipulation extension, while ARM received support for scalable matrix extension 2 instructions. For filesystems, Linux 6.3 brings AES-SHA2-based encryption support for NFS, optimizations for EXT4 direct I/O performance, low-latency decompression for EROFS, and a faster Brtfs file-system driver. Bottom line: many file operations will be a bit more secure and faster.

For gamers, the new kernel provides a native Steam Deck controller interface in HID. It also includes compatibility for the Logitech G923 Xbox edition racing wheel and improvements to the 8BitDo Pro 2 wired game controllers. Who says you can't game on Linux? Single-board computers, such as BannaPi R3, BPI-M2 Pro, and Orange Pi R1 Plus, also benefit from updated drivers in this release. There's also support for more Wi-Fi adapters and chipsets. These include: Realtek RTL8188EU Wi-Fi adapter support; Qualcomm Wi-Fi 7 wireless chipset support; and Ethernet support for NVIDIA BlueField 3 DPU. For users dealing with complex networks that have both old-school and modern networks, the new kernel can also handle multi-path TCP handling mixed flows with IPv4 and IPv6.
Linux 6.3 is available from kernel.org. You can learn how to compile the Linux kernel yourself here.
Businesses

Meet the People Who Use 'Notion' To Plan Their Whole Lives (technologyreview.com) 119

An anonymous reader quotes a report from MIT Technology Review: Joshua Bergen is a very productive person. His secret is the workspace app Notion. Bergen, a product manager living in Vancouver, uses it to plan trips abroad in meticulous detail, with notes and timelines. He uses it to curate lists of the movies and TV shows he's watched, and records what he thought of them. It's also a handy way to keep tabs on his 3D-printing projects, map snowboarding runs, and quickly update his cute list of the funny things his kid has said. It might sound strange, but Bergen is one of a growing number of people using Notion, software intended for work, to organize their personal lives. They're using it in a myriad of different ways, from tracking their meditation habits and weekly schedules to logging their water intake and sharing grocery lists.

So why has a platform built to accommodate "better, faster work" struck such a chord when there are countless other planning apps out there? Part of the reason Notion has such a devoted fan base is its flexibility. At its heart, Notion is designed to combine the various programs a business might use for functions like HR, sales, and product planning in a single hub. It uses simple templates that let users add or remove features, and remote workers can easily collaborate on notes, databases, calendars, and project boards. This high level of customizability sets Notion apart from other work apps. It's also what's made it so popular among people looking to map out their free time. It started to gain traction around 2018 in YouTube's thriving productivity subculture, where videos of fans swapping time management tips and guides to organizing their lives regularly rack up millions of views.

Since then, its following has snowballed. More than 275,000 people have joined a dedicated subreddit, tens of thousands of users share free page templates in private Facebook groups, and TikTok videos advising viewers on how to make their Notion pages look pretty have been watched hundreds of millions of times. "You don't have to change your habits to how rigid software is. The software will change how your mind works," says Akshay Kothari, Notion's cofounder and chief operating officer. "I think that's actually been a big reason why you see so much love in the community: because people feel like the things they build are theirs."
While platforms like Notion are great for people who enjoy feeling organized, spending too much time optimizing and organizing our lives can be counterproductive when we prioritize creating to-do lists over completing the actual tasks on them, says Gabriele Oettingen, a psychology professor at New York University. It's a phenomenon known as the planning fallacy.

Using Notion to track whether you're drinking enough water or going jogging, or using it to plan assignments, doesn't necessarily mean you're actually getting those things done. "In a way, Notion might help me to get structure, but it might not work to get me going," she says.
Crime

Terra Co-founder Daniel Shin Charged With Fraud in South Korea (theverge.com) 4

Daniel Shin, the co-founder of Terraform Labs, was indicted in South Korea in connection with the collapsed Terra and Luna cryptocurrencies. From a report: According to reports from Bloomberg and the local Yonhap News Agency, Shin was charged on Tuesday with offenses including fraud, breach of duty, and embezzlement. Prosecutors at Seoul Southern District Court also indicted nine other people with ties to Terra, some of whom had roles in marketing, systems development, and management, as reported by Bloomberg. The outlet also reports that prosecutors have frozen a total of 246.8 billion won (about $184.7 million) in assets from the individuals they charged.
Google

Google Opens Its Security Tools To Competitors' Platforms (axios.com) 3

Google is leaning into flexibility as part of a new strategy to stymie the impact of belt-tightening among cyber chiefs. From a report: Google Cloud and Mandiant, the threat intelligence unit it acquired last year, unveiled at the RSA Conference in San Francisco today that they're opening their security products to integrations from competitors, as well as offering new Google plug-ins for other vendors' tools. The news, which was shared first with Axios, means that Google customers will now have more options to embed Google's tools in partner companies' products, like CrowdStrike, Trellix and SentinelOne. Other companies, like Accenture and login management company Okta, will also be integrating their products into Google's as part of the plan. Chief information security officers are facing increasing board pressure during a wobbly economy to cut down the number of vendors they work with and simplify their security programs. As a result, vendors have started to intertwine their competitors' products into their own tools in recent years to reach more customers.
Earth

Another Ocean Climate Solution Attempted by California Researchers (apnews.com) 84

The Associated Press visited a 100-foot barge moored in Los Angeles where engineers built "a kind of floating laboratory to answer a simple question: Is there a way to cleanse seawater of carbon dioxide and then return it to the ocean so it can suck more of the greenhouse gas out of the atmosphere to slow global warming?" The technology, dubbed SeaChange, developed by the University of California Los Angeles engineering faculty, is meant to seize on the ocean's natural abilities, said Gaurav Sant, director of UCLA's Institute for Carbon Management. The process sends an electrical charge through seawater flowing through tanks on the barge. That then sets off a series of chemical reactions that trap the greenhouse gas into a solid mineral that includes calcium carbonate — the same thing seashells are made of. The seawater is then returned to the ocean and can pull more carbon dioxide out of the air. The calcium carbonate settles to the sea floor.

Plans are now underway to scale up the idea with another demonstration site starting this month in Singapore. Data collected there and at the Port of Los Angeles will help in the design of larger test plants. Those facilities are expected to be running by 2025 and be able to remove thousands of tons of CO2 per year. If they are successful, the plan is to build commercial facilities to remove millions of tons of carbon annually, Sant said...

Scientists estimate at least 10 billion metric tons of carbon will need to be removed from the air annually beginning in 2050, and the pace will need to continue over the next century... According to the UCLA team, at least 1,800 industrial-scale facilities would be needed to capture 10 billion tons of atmospheric carbon dioxide per year, but fewer could still make a dent.

The article notes alternate ideas from other researchers — including minerals on beaches that increase the ocean's alkalinity so it can absorb more carbon dioxide.

But this SeaChange process also produces hydrogen. So the director of UCLA's Carbon Management institute also founded a startup that generates revenue from that hydrogen (and from "carbon credits" sold to other companies) — hoping to lower the cost of removing atmospheric carbon to below $100 per metric ton.
The Almighty Buck

Cory Doctorow's New Thriller Dramatizes 'Cryptocurrency Shenanigans' and 'Financial Rot' (macmillan.com) 29

Cory Doctorow just wrote a new thriller "about cryptocurrency shenanigans that will awaken you to how the world really works," according to his publisher. Doctorow calls Red Team Blues "a book about the financial rot at the center of Silicon Valley... a kind of anti-finance finance thriller."

The publisher describes the book's hero as "a self-employed forensic accountant, a veteran of the long guerilla war between people who want to hide money, and people who want to find it. " He knows computer hardware and software alike, including the ins and outs of high-end databases and the kinds of spreadsheets that are designed to conceal rather than reveal. He's as comfortable with social media as people a quarter his age, and he's a world-level expert on the kind of international money-laundering and shell-company chicanery used by Fortune 500 companies, mid-divorce billionaires, and international drug gangs alike.

He also knows the Valley like the back of his hand, all the secret histories of charismatic company founders and Sand Hill Road VCs. Because he was there at all the beginnings. He's not famous, except to the people who matter. He's made some pretty powerful people happy in his time, and he's been paid pretty well. It's been a good life.

Now he's been roped into a job that's more dangerous than anything he's ever agreed to before — and it will take every ounce of his skill to get out alive.

"I write when I'm anxious, and right now these are anxious times," Doctorow explained last month in Publisher's Weekly, describing what he'd learned about selling audiobooks without going through Amazon's service Audible. This time Cory got 4,080 backers to pledge $152,735 to fund an audiobook for Red Team Blues read by Wil Wheaton that his Kickstarter campaign stressed would be DRM-free. ("Every audiobook sold on Audible be wrapped in Amazon's Digital Rights Management technology, which is a felony for you to remove, even if the copyright holder asks you to. It's punishable by a five-year prison sentence and a $500,000 fine!")

Red Team Blues is the first book in a new trilogy, and Cory is now making in-person appearances to promote the book — starting today (and tomorrow) at the LA Times Festival of Books at the University of Southern California. Tuesday he'll be in San Diego, and a week from Sunday he's appearing in San Francisco, before heading to Portland, Mountain View, Berkeley, and Gaithersburg Maryland.
Businesses

Huawei Launches In-house Software System After Being Cut Off From US Services (reuters.com) 25

China's Huawei said on Thursday it is replacing internal software management systems it once sourced from U.S. vendors with its own in-house version, hailing it as a victory over U.S. curbs that once threatened its survival. From a report: Huawei held an internal ceremony to celebrate the switch to its own 'MetaERP' (enterprise resource planning system) in Dongguan, south China on Thursday, attended by the Huawei's rotating Chairperson Meng Wanzhou, the daughter of the company's founder Ren Zhengfei. ERP software is used by companies to manage key business operations ranging from accounting to supply chain management.

"We were cut off from the old ERP system and other core operation and management systems three years ago," said Tao Jingwen, a Huawei board member and president of its quality, business process and IT management department. "Today we are proud to announce that we have broken through that blockade, we have survived!" The in-house Meta-ERP has been rolled out across 80% of the company's business, Huawei said in a news release.

AI

Europe Spins Up AI Research Hub To Apply Accountability Rules on Big Tech (techcrunch.com) 8

As the European Union gears up to enforce a major reboot of its digital rulebook in a matter of months, a new dedicated research unit is being spun up to support oversight of large platforms under the bloc's flagship Digital Services Act (DSA). From a report: The European Centre for Algorithmic Transparency (ECAT), which was officially inaugurated in Seville, Spain, today, is expected to play a major role in interrogating the algorithms of mainstream digital services -- such as Facebook, Instagram and TikTok.

ECAT is embedded within the EU's existing Joint Research Centre (JRC), a long-established science facility that conducts research in support of a broad range of EU policymaking, from climate change and crisis management to taxation and health sciences. But while the ECAT is embedded within the JRC -- and temporarily housed in the same austere-looking building (Seville's World Trade Centre), ahead of getting more open-plan bespoke digs in the coming years -- it has a dedicated focus on the DSA, supporting lawmakers to gather evidence to build cases so they can act on any platforms that don't take their obligations seriously. Commission officials describe the function of ECAT being to identify "smoking guns" to drive enforcement of the DSA -- say, for example, an AI-based recommender system that can be shown is serving discriminatory content despite the platform in question claiming to have taken steps to "de-bias" output -- with the unit's researchers being tasked with coming up with hard evidence to help the Commission build cases for breaches of the new digital rulebook.

Education

Worthless Degrees Are Creating an Unemployable Generation in India (bloomberg.com) 150

Business is booming in India's $117 billion education industry and new colleges are popping up at breakneck speed. Yet thousands of young Indians are finding themselves graduating with limited or no skills, undercutting the economy at a pivotal moment of growth. From a report: Desperate to get ahead, some of these young people are paying for two or three degrees in the hopes of finally landing a job. They are drawn to colleges popping up inside small apartment buildings or inside shops in marketplaces. Highways are lined with billboards for institutions promising job placements. It's a strange paradox. India's top institutes of technology and management have churned out global business chiefs like Alphabet's Sundar Pichai and Microsoft's Satya Nadella. But at the other end of the spectrum are thousands of small private colleges that don't have regular classes, employ teachers with little training, use outdated curriculums, and offer no practical experience or job placements, according to more than two dozen students and experts who were interviewed by Bloomberg.

Around the world, students are increasingly pondering the returns on a degree versus the cost. Higher education has often sparked controversy globally, including in the US, where for-profit institutions have faced government investigations. Yet the complexities of education are acutely on show in India. It has the world's largest population by some estimates, and the government regularly highlights the benefits of having more young people than any other country. Yet half of all graduates in India are unemployable in the future due to problems in the education system, according to a study by talent assessment firm Wheebox. Many businesses say they struggle to hire because of the mixed quality of education. That's kept unemployment stubbornly high at more than 7% even though India is the world's fastest growing major economy. Education is also becoming an outsized problem for Prime Minister Narendra Modi as he attempts to draw foreign manufacturers and investors from China. Modi had vowed to create millions of jobs in his campaign speeches, and the issue is likely to be hotly debated in the run up to national elections in 2024.

Technology

Universal Product Code Barcode Will Be Supplanted By 2027 With a More Data-Rich '2D' Barcode (axios.com) 206

The humble and familiar barcode -- a staple on consumer packaging for nearly 50 years -- will soon be replaced with a more robust and muscular successor that offers far more information about the product inside. Axios reports: In a worldwide push called "Sunrise 2027," the retail industry is transitioning from the standard 12-digit barcode -- that square of vertical lines that's printed on a package and makes it go "beep" at the checkout scanner -- to a two-dimensional web-enabled version. The effort is being orchestrated by GS1 US, the nonprofit standards organization that oversees the barcode world. In the United States, Universal Product Code (UPC) barcodes will be supplanted by a new 2D type, with information encoded on both the horizontal and vertical axes. By 2027, only the 2D barcodes will be accepted at registers globally.

The new "2D" barcodes will unlock reams of online extras (for consumers) and revolutionize inventory management (for retailers). Scanning them may tell us the field where something was grown, the factory where a garment was sewn, the sustainability practices of the company that made it -- or the washing instructions. [...] Stores will be able to respond immediately to product recalls, identifying faulty items and removing them from shelves. They'll be able to flag foods that are approaching their sell-by date -- and offer discounts before they expire. Consumers will gain online access to a trove of useful data -- everything from ingredients, recipes and potential allergens to promotional offers and information about how to recycle the product.

GS1 US just released a "barcode capabilities test kit" to help retailers evaluate their readiness for the 2D transition. We can expect to start seeing more products printed with 2D barcodes (or both types, as the transition moves forward) fairly soon.

Businesses

Mass Layoffs and Absentee Bosses Create a Morale Crisis At Meta (nytimes.com) 54

An anonymous reader quotes a report from the New York Times: Mark Zuckerberg, Meta's chief executive, has declared that 2023 will be the "year of efficiency" at his company. So far, efficiency has translated into mass layoffs. He has conducted two rounds of cuts over the past six months, with two more to come; these will eliminate more than 21,000 people. Mr. Zuckerberg is also closing 5,000 open positions, which amounts to 30 percent of his company's work force. At the same time, some of Meta's top executives have moved away and are managing large parts of the Silicon Valley company from their new homes in places like London and Tel Aviv. The layoffs and absentee leadership, along with concerns that Mr. Zuckerberg is making a bad bet on the future, have devastated employee morale at Meta, according to nine current and former employees, as well as messages reviewed by The New York Times.

Employees at Meta, which not long ago was one of the most desirable workplaces in Silicon Valley, face an increasingly precarious future. The company's stock price has dropped 43 percent from its peak 19 months ago. More layoffs, Mr. Zuckerberg has said on his Facebook page, are coming this month. Some of those cuts could be in engineering groups, which would have been unthinkable before the trouble started last year, two employees said. "So many of the employees feel like they're in limbo right now," said Erin Sumner, a global director of human resources at DeleteMe, who was laid off from Facebook in November. "They're saying it's 'Hunger Games' meets 'Lord of the Flies,' where everyone is trying to prove their worth to management."

Meta, which owns Facebook, Instagram and WhatsApp, is not the only big tech company that has hit the brakes on spending. Amazon, Microsoft, Google, Salesforce and others have laid off thousands of workers in recent months, shed office space, dropped perks and pulled back from experimental initiatives. But Meta appears to face the most challenges. Last year, the company reported consecutive quarters of declining revenue -- a first since it became a public company in 2012.

Businesses

More and More Americans Are Gaming the Deposit-Insurance System (economist.com) 49

A new report looks at the firms that quietly move billions around the banking industry each day. Reciprocal deposits enable banks to place deposits with another bank and receive the same value back through technology firms, reshuffling approximately $1 trillion through their platforms. This deposit-swapping allows banks to offer customers more insurance, a priority after Silicon Valley Bank's failure, where 93% of deposits were uninsured. At the end of last year, around 45% of deposits in the American banking system were uninsured.

Invented by Eugene Ludwig in 2002, reciprocal deposits help banks offer greater deposit insurance without forgoing deposit funding. Ludwig's firm, IntraFi, allows banks to place insured deposits around the system while receiving the same value from other locations. IntraFi, the largest firm with 3,000 banks on its platform, has been joined by r&t Deposit Solutions, ModernFi, and StoneCastle Cash Management. These firms are experiencing rapid growth, with reciprocal deposits' value increasing significantly since March.

The story asks: All this deposit-swapping raises the question of whether it makes sense to maintain the federal cap. The private sector has come up with a clever workaround to offer more deposit insurance than mandated. It is conceivable that, with several thousand banks in the network, an account could offer deposit insurance for hundreds of millions of dollars. Indeed, StoneCastle offers an account with $125m in deposit insurance. But there is a difference between a private-sector workaround and a public-sector mandate. It is currently difficult to match banks so that all are able to offer such high limits (most offer just a few million dollars' insurance), and reciprocal-deposit firms levy fees, too. They apply on top of the charges, of between 0.05% and 0.32% of the value of total liabilities, that institutions pay for federal-deposit insurance.

Abolishing the cap would make insurance pricier across the system; these higher costs would almost certainly be passed on to customers in the form of lower interest rates. Still, if enough depositors seek insurance by spreading deposits around, higher costs might be the result anyway.

Earth

Apple To Invest Another $200 Million In Carbon Removal Fund (reuters.com) 31

Apple said it will invest up to an additional $200 million in its Restore Fund, which was created in 2021 to remove carbon from the atmosphere. Reuters reports: The additional investment is expected to help the fund start new projects and carry forward its previously stated goal to remove about 1 million metric tons of carbon dioxide per year, the company said. Apple is making efforts to become carbon neutral through its entire supply chain and the life cycle of every product by 2030.

The fund, launched with Goldman Sachs Group Inc (GS.N) and nonprofit Conservation International, has invested in forest properties in Brazil and Paraguay in the last two years. The expanded fund will be managed by Climate Asset Management, a joint venture of HSBC Asset Management and Pollination, Apple added.

Businesses

Sam Bankman-Fried Declared Alameda 'Unauditable,' New Report Shows (theblock.co) 61

The new management of FTX, headed by CEO John Ray III, on Sunday released its first interim report on control failures at the collapsed crypto exchange. There is a lot to digest. The Block: The 45-page report -- published Sunday afternoon by FTX Trading Ltd and its affiliated debtors -- describes in painstaking detail FTX's slapdash record-keeping, near non-existent cybersecurity defenses and its sparse expertise in key areas like finance. One of the more eye-catching items concerned Alameda Research, the trading firm that allegedly had access to billions of dollars in customer funds stored with FTX. The report states that Alameda "often had difficulty understanding what its positions were, let alone hedging or accounting for them."

Former CEO Sam Bankman-Fried, now under house arrest and facing a litany of criminal charges, described Alameda in internal communications as "hilariously beyond any threshold of any auditor being able to even get partially through an audit," according to the report. He went on: "Alameda is unauditable. I don't mean this in the sense of 'a major accounting firm will have reservations about auditing it'; I mean this in the sense of 'we are only able to ballpark what its balances are, let alone something like a comprehensive transaction history.' We sometimes find $50m of assets lying around that we lost track of; such is life."

Programming

C Rival 'Zig' Cracks Tiobe Index Top 50, Go Remains in Top 10 (infoworld.com) 167

InfoWorld reports: Zig, a general purpose programming language that interacts with C/C++ programs and promises to be a modern alternative to C, has made an appearance in the Tiobe index of programming language popularity. Zig entered the top 50 in the April edition of the Tiobe Programming Community Index, ranking 46th, albeit with a rating of just 0.19%. By contrast, the Google-promoted Carbon language, positioned as an experimental successor to C++, ranked just 168th.
Tiobe CEO Paul Jansen argues that high-performance languages "are booming due to the vast amounts of data that needs to be processed nowadays. As a result, C and C++ are doing well in the top 10 and Rust seems to be a keeper in the top 20." Zig has all the nice features of C and C++ (such as explicit memory management enhanced with option types) and has abandoned the not-so-nice features (such as the dreadful preprocessing). Entering the top 50 is no guarantee to become a success, but it is at least a first noteworthy step. Good luck Zig!
Tiobe bases its monthly ranking of programming language popularity on search engine results for courses, third party vendors, and engineers. Here's what they's calculated for the most popular programming languages in April of 2023:
  • Python
  • C
  • Java
  • C++
  • C#
  • Visual Basic
  • JavaScript
  • SQL
  • PHP
  • Go

April's top 10 was nearly identical to the rankings a year ago, but assembly language fell from 2022's #8 position to #12 in 2023. SQL and PHP rose one rank (into 2023's #8 and #9 positions) — and as in March, the rankings now shows Go as the 10th most popular programming language.


Businesses

Apple's $165 Billion Cash Hoard Creates Mergers and Acquisitions Mirages (bloomberg.com) 55

Apple's slowing growth and cash-rich balance sheet are again fueling speculation that the world's most valuable company should make a big acquisition. From a report: Entertainment giant Disney recently joined a long list of potential acquisition targets that over the years has grown to include Netflix, Tesla, Peloton and Sonos. They all have one thing in common: Anyone betting that Apple would buy them has so far been sorely disappointed. "You're probably missing the value of the business if you think the key catalyst for investment is a major acquisition," said Kevin Walkush, portfolio manager at Jensen Investment Management. "It's a low-probability bet." Apple is famous for eschewing splashy acquisitions in contrast with peers like Microsoft and Amazon, which have continued to make deals despite increasing scrutiny by regulators. Instead, Apple favors buying small startups to augment its home-grown pushes into new markets even if those efforts take many years to bear fruit.
Australia

Australia Is Quitting Coal In Record Time Thanks To Tesla (bloomberg.com) 251

An anonymous reader quotes a report from Bloomberg: Like so much in our modern era, Australia's high-stakes gamble on renewable energy starts with an Elon Musk Twitter brag. South Australia's last coal-fired power plant had closed, leaving the province of 1.8 million heavily reliant on wind farms and power imports from a neighboring region. When an unprecedented blackout caused much of the country to question the state's dependence on clean power, Tesla boasted -- on Twitter, of course -- that it had a solution: It could build the world's biggest battery, and fast. "@Elonmusk, how serious are you about this," replied Australian software billionaire and climate activist Mike Cannon-Brookes. "Can you guarantee 100MW in 100 days?" Musk responded: "Tesla will get the system installed and working 100 days from contract signature or it is free. That serious enough for you?"

To the astonishment of many, Tesla succeeded, and today, almost seven years later, that battery and more like it have become central to a shockingly rapid energy transition. By the middle of the next decade, major coal-fired power stations that generate about half of Australia's electricity will shut down. Gas-fired plants are being retired, too, and nuclear power is banned. That leaves solar, wind and hydro as the major options in the country's post-coal future. "It's really a remarkable story," said Audrey Zibelman, the former head of the Australian Energy Market Operator, or AEMO, the agency that runs the grid, and now an adviser to Alphabet's X. "Because we're not interconnected, we've had to learn to do it in a much more sophisticated way, where a lot of other countries will go once they've shut down their fossils."

It may be Australia's biggest power buildout since electrification in the 1920s and 30s. And, if successful, could be replicated across the 80% of the world's population that lives in the so-called sun belt -- which includes Latin America, Africa, the Middle East, India, southern China and Southeast Asia, says Professor Andrew Blakers, an expert in renewable energy and solar technology at Australian National University. That, in turn, would go a long way to halting climate change. Building battery storage is just one critical piece of the national project, and AEMO and others are worried coal plants will shut before there's enough additional electricity supply. Australia needs to increase its grid-scale wind and solar capacity ninefold by 2050. Connecting all that generation and storage into the grid will require more investment. Overall, the cost could be a staggering A$320 billion ($215 billion), and the money is starting to flow: Brookfield Asset Management Ltd., Macquarie Group Ltd., and billionaires Andrew Forrest and Cannon-Brookes have all been involved in headline-grabbing energy deals in recent months. New government support for renewables has also improved investor sentiment, according to the Clean Energy Investor Group, which includes project developers and financiers.

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