BrianFagioli shares a report from NERDS.xyz: A new academic study has found that the 2016 Wells Fargo scandal pushed many consumers toward fintech lenders instead of traditional banks. The research, published in the Journal of Financial Economics, suggests that it was a lack of trust rather than interest rates or fees that drove this behavioral shift. Conducted by Keer Yang, an assistant professor at the UC Davis Graduate School of Management, the study looked closely at what happened after the Wells Fargo fraud erupted into national headlines. Bank employees were caught creating millions of unauthorized accounts to meet unrealistic sales goals. The company faced $3 billion in penalties and a massive public backlash.

Yang analyzed Google Trends data, Gallup polls, media coverage, and financial transaction datasets to draw a clear conclusion. In geographic areas with a strong Wells Fargo presence, consumers became measurably more likely to take out mortgages through fintech lenders. This change occurred even though loan costs were nearly identical between traditional banks and digital lenders. In other words, it was not about money. It was about trust. That simple fact hits hard. When big institutions lose public confidence, people do not just complain. They start moving their money elsewhere.

According to the study, fintech mortgage use increased from just 2 percent of the market in 2010 to 8 percent in 2016. In regions more heavily exposed to the Wells Fargo brand, fintech adoption rose an additional 4 percent compared to areas with less exposure. Yang writes, "Therefore it is trust, not the interest rate, that affects the borrower's probability of choosing a fintech lender." [...] Notably, while customers may have been more willing to switch mortgage providers, they were less likely to move their deposits. Yang attributes that to FDIC insurance, which gives consumers a sense of security regardless of the bank's reputation. This study also gives weight to something many of us already suspected. People are not necessarily drawn to fintech because it is cheaper. They are drawn to it because they feel burned by the traditional system and want a fresh start with something that seems more modern and less manipulative.

"Slashdot regularly posts milestones on CO2 levels reported by the Mauna Loa Observatory," writes longtime Slashdot reader symbolset, pointing to a new article highlighting how the Trump administration's proposed budget would eliminate funding for the lab's carbon dioxide monitoring. "Continuous observation records since 1958 will end with the new federal budget as ocean and atmospheric sciences are defunded." From a report: [I]t's the Mauna Loa laboratory that is the most prominent target of the President Donald Trump's climate ire, as measurements that began there in 1958 have steadily shown CO2's upward march as human activities have emitted more and more of the planet-warming gas each year. The curve produced by the Mauna Loa measurements is one of the most iconic charts in modern science, known as the Keeling Curve, after Charles David Keeling, who was the researcher who painstakingly collected the data. His son, Ralph Keeling, a professor at the Scripps Institution of Oceanography at UC San Diego, now oversees collecting and updating that data.

Today, the Keeling Curve measurements are made possible by the National Oceanic and Atmospheric administration, but the data gathering and maintenance of the historical record also is funded by Schmidt Sciences and Earth Networks, according to the Keeling Curve website. In the event of a NOAA shut down of the lab, Scripps could seek alternate sources of funding to host the instruments atop the same peak or introduce a discontinuity in the record by moving the instruments elsewhere in Hawaii.

The proposal to shut down Mauna Loa had been made public previously but was spelled out in more detail on Monday when NOAA submitted a budget document (PDF) to Congress. It made more clear that the Trump administration envisions eliminating all climate-related research work at NOAA, as had been proposed in Project 2025, the conservative blueprint for overhauling the government. It would do this in large part by cutting NOAA's Office of Oceanic and Atmospheric Research entirely, including some labs that are also involved in improving weather forecasting. NOAA has long been one of the world's top climate science agencies, but the administration would steer it instead towards being more focused on operational weather forecasting and warning responsibilities.

Steven J. Vaughan-Nichols writes in an opinion piece for The Register: Microsoft, tactically admitting it has failed at talking all the Windows 10 PC users into moving to Windows 11 after all, is -- sort of, kind of -- extending Windows 10 support for another year. For most users, that means they'll need to subscribe to Microsoft 365. This, in turn, means their data and meta-information will be kept in a US-based datacenter. That isn't sitting so well with many European Union (EU) organizations and companies. It doesn't sit that well with me or a lot of other people either.

A few years back, I wrote in these very pages that Microsoft didn't want you so much to buy Windows as subscribe to its cloud services and keep your data on its servers. If you wanted a real desktop operating system, Linux would be almost your only choice. Nothing has changed since then, except that folks are getting a wee bit more concerned about their privacy now that President Donald Trump is in charge of the US. You may have noticed that he and his regime love getting their hands on other people's data.

Privacy isn't the only issue. Can you trust Microsoft to deliver on its service promises under American political pressure? Ask the EU-based International Criminal Court (ICC) which after it issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu for war crimes, Trump imposed sanctions on the ICC. Soon afterward, ICC's chief prosecutor, Karim Khan, was reportedly locked out of his Microsoft email accounts. Coincidence? Some think not. Microsoft denies they had anything to do with this.

Peter Ganten, chairman of the German-based Open-Source Business Alliance (OSBA), opined that these sanctions ordered by the US which he alleged had been implemented by Microsoft "must be a wake-up call for all those responsible for the secure availability of state and private IT and communication infrastructures." Microsoft chairman and general counsel, Brad Smith, had promised that it would stand behind its EU customers against political pressure. In the aftermath of the ICC reports, Smith declared Microsoft had not been "in any way [involved in] the cessation of services to the ICC." In the meantime, if you want to reach Khan, you'll find him on the privacy-first Swiss email provider, ProtonMail.

In short, besides all the other good reasons for people switching to the Linux desktop - security, Linux is now easy to use, and, thanks to Steam, you can do serious gaming on Linux - privacy has become much more critical. That's why several EU governments have decided that moving to the Linux desktop makes a lot of sense... Besides, all these governments know that switching from Windows 10 to 11 isn't cheap. While finances also play a role, and I always believe in "following the money" when it comes to such software decisions, there's no question that Europe is worried about just how trustworthy America and its companies are these days. Do you blame them? I don't. The shift to the Linux desktop is "nothing new," as Vaughan-Nichols notes. Munich launched its LiMux project back in 2004 and, despite ending it in 2017, reignited its open-source commitment by establishing a dedicated program office in 2024. In France, the gendarmerie now operates over 100,000 computers on a custom Ubuntu-based OS (GendBuntu), while the city of Lyon is transitioning to Linux and PostgreSQL.

More recently, Denmark announced it is dropping Windows and Office in favor of Linux and LibreOffice, citing digital sovereignty. The German state of Schleswig-Holstein is following suit, also moving away from Microsoft software. Meanwhile, a pan-European Linux OS (EU OS) based on Fedora Kinoite is being explored, with Linux Mint and openSUSE among the alternatives under consideration.

In a memo to employees on Tuesday, Amazon CEO Andy Jassy said that the company's corporate workforce will shrink in the coming years as it adopts more generative AI tools and agents. "We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs," Jassy said. "It's hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce." CNBC reports: Jassy wrote that employees should learn how to use AI tools and experiment and figure out "how to get more done with scrappier teams." The directive comes as Amazon has laid off more than 27,000 employees since 2022 and made several cuts this year. Amazon cut about 200 employees in its North America stores unit in January and a further 100 in its devices and services unit in May. Amazon had 1.56 million full-time and part-time employees in its global workforce as of the end of March, according to financial filings. The company also employs temporary workers in its warehouse operations, along with some contractors.

Amazon is using generative AI broadly across its internal operations, including in its fulfillment network where the technology is being deployed to assist with inventory placement, demand forecasting and the efficiency of warehouse robots, Jassy said. [...] In his most recent letter to shareholders, Jassy called generative AI a "once-in-a-lifetime reinvention of everything we know." He added that the technology is "saving companies lots of money," and stands to shift the norms in coding, search, financial services, shopping and other areas. "It's moving faster than almost anything technology has ever seen," Jassy said.

Walmart and Amazon are exploring the possibility of issuing their own stablecoins in the United States, WSJ reported Friday, potentially shifting billions of dollars in transaction volume away from traditional banks and card networks. The retail giants, along with Expedia Group and several airlines, have recently discussed launching corporate stablecoins that would allow them to circumvent the existing payments infrastructure dominated by Visa and Mastercard.

The companies' final decisions hinge on passage of the Genius Act, legislation currently moving through Congress that would establish a regulatory framework for stablecoins. These digital currencies maintain a one-to-one exchange ratio with dollars and are backed by cash or Treasury reserves, offering merchants the potential for faster payment settlement and significantly reduced processing fees compared to traditional card transactions that can take days to clear.

An anonymous reader quotes a report from ZDNet: Denmark's Minister of Digitalization, Caroline Stage, has announced that the Danish government will start moving away from Microsoft Office to LibreOffice. Why? It's not because open-source is better, although I would argue that it is, but because Denmark wants to claim "digital sovereignty." In the States, you probably haven't heard that phrase, but in the European Union, digital sovereignty is a big deal and getting bigger.

A combination of security, economic, political, and societal imperatives is driving the EU's digital sovereignty moves. EU leaders are seeking to reduce Europe's dependence on foreign technology providers, primarily those from the United States, and to assert greater control over its digital infrastructure, data, and technological future. Why? Because they're concerned about who controls European data, who sets the rules, and who can potentially cut off access to essential services in times of geopolitical tension. "Money issues have also played a decisive role," writes ZDNet's Steven Vaughan-Nichols. "Copenhagen's Microsoft software bill has soared from 313 million kroner in 2018 to 538 million kroner -- about $53 million in 2023, a 72% increase in just five years.

David Heinemeier Hansson (DHH), a Dane, inventor of Ruby on Rails, and co-owner of the software developer company 37Signals, has said: "Denmark is one of the most highly digitalized countries in the world. It's also one of the most Microsoft-dependent. In fact, Microsoft is by far and away the single biggest dependency, so it makes perfect sense to start the quest for digital sovereignty there."

IBM laid off "a couple hundred" HR workers and replaced them with AI agents. "It's becoming a huge thing," says Mike Peditto, a Chicago-area consultant with 15 years of experience advising companies on hiring practices. He tells Slate "I do think we're heading to where this will be pretty commonplace." Although A.I. job interviews have been happening since at least 2023, the trend has received a surge of attention in recent weeks thanks to several viral TikTok videos in which users share videos of their A.I. bots glitching. Although some of the videos were fakes posted by a creator whose bio warns that his content is "all satire," some are authentic — like that of Kendiana Colin, a 20-year-old student at Ohio State University who had to interact with an A.I. bot after she applied for a summer job at a stretching studio outside Columbus. In a clip she posted online earlier this month, Colin can be seen conducting a video interview with a smiling white brunette named Alex, who can't seem to stop saying the phrase "vertical-bar Pilates" in an endless loop...

Representatives at Apriora, the startup company founded in 2023 whose software Colin was forced to engage with, did not respond to a request for comment. But founder Aaron Wang told Forbes last year that the software allowed companies to screen more talent for less money... (Apriora's website claims that the technology can help companies "hire 87 percent faster" and "interview 93 percent cheaper," but it's not clear where those stats come from or what they actually mean.)
Colin (first interviewed by 404 Media) calls the experience dehumanizing — wondering why they were told dress professionally, since "They had me going the extra mile just to talk to a robot." And after the interview, the robot — and the company — then ghosted them with no future contact. "It was very disrespectful and a waste of time."

Houston resident Leo Humphries also "donned a suit and tie in anticipation for an interview" in which the virtual recruiter immediately got stuck repeating the same phrase. Although Humphries tried in vain to alert the bot that it was broken, the interview ended only when the A.I. program thanked him for "answering the questions" and offering "great information" — despite his not being able to provide a single response. In a subsequent video, Humphries said that within an hour he had received an email, addressed to someone else, that thanked him for sharing his "wonderful energy and personality" but let him know that the company would be moving forward with other candidates.

A Canadian math prodigy is accused of stealing over $65 million through complex exploits on decentralized finance platforms and is currently a fugitive from U.S. authorities. Despite facing criminal charges for fraud and money laundering, he has evaded capture by moving internationally, embracing the controversial "Code is Law" philosophy, and maintaining that his actions were legal under the platforms' open-source rules. The Globe and Mail reports: Andean Medjedovic was 18 years old when he made a decision that would irrevocably alter the course of his life. In the fall of 2021, shortly after completing a master's degree at the University of Waterloo, the math prodigy and cryptocurrency trader from Hamilton had conducted a complex series of transactions designed to exploit a vulnerability in the code of a decentralized finance platform. The maneuver had allegedly allowed him to siphon approximately $16.5-million in digital tokens out of two liquidity pools operated by the platform, Indexed Finance, according to a U.S. court document.

Indexed Finance's leaders traced the attack back to Mr. Medjedovic, and made him an offer: Return 90 per cent of the funds, keep the rest as a so-called "bug bounty" -- a reward for having identified an error in the code -- and all would be forgiven. Mr. Medjedovic would then be free to launch his career as a white hat, or ethical, hacker. Mr. Medjedovic didn't take the deal. His social media posts hinted, without overtly stating, that he believed that because he had operated within the confines of the code, he was entitled to the funds -- a controversial philosophy in the world of decentralized finance known as "Code is Law." But instead of testing that argument in court, Mr. Medjedovic went into hiding. By the time authorities arrived on a quiet residential street in Hamilton to search his parents' townhouse less than two months later, Mr. Medjedovic had moved out, taking his electronic devices with him.

Then, roughly two years later, he struck again, netting an even larger sum -- approximately $48.4-million -- by conducting a similar exploit on another decentralized finance platform, U.S. authorities allege. Mr. Medjedovic, now 22, faces five criminal charges -- including wire fraud, attempted extortion and money laundering -- according to a U.S. federal court document that was unsealed earlier this year. If convicted, he could be facing decades in prison. First, authorities will have to find him.

Skype is shutting down after two decades on May 5th, notes the Washington Post.

But the bigger problem for retired attorney Karen Griffin is that Microsoft won't refund the money they paid into a Skype account for cheap international phone calls: "They're no longer offering this service that I prepaid for, and now they're not giving me my money back," Griffin said. "There's a lot of people out there who are going to lose money...."

To its credit, Microsoft gave Skype users a couple months' warning about the shutdown coming May 5. People can transfer Skype contacts and chat history to the company's Microsoft Teams chat-and-calling app or to other companies' services. (While Microsoft sells Teams to organizations, there's a free version for personal use.) But Microsoft didn't explain well what will happen to money that people like Griffin have parked in Skype accounts, in some cases for years.... Unless you bought Skype credits very recently, Microsoft said it won't refund money in Skype accounts. The company says it will add an option for Skype account holders to keep using their funds for phone calls online or in Teams.

Griffin doesn't love what Microsoft is doing. She prefers a cash refund or a credit applied to her Microsoft Office subscription, for which she pays about $110 a year. Amit Fulay, vice president of product for Skype and Teams, said it's not possible to shift funds from a Skype account to Office subscriptions. And he nixed refunds because Microsoft will still offer basic call services for former Skype customers. "Refunds make more sense if you took away something," Fulay said. "We're not." Microsoft declined to say how much money Skype users collectively have sitting in accounts that they might never use.

Stacey Higginbotham, a policy specialist with Consumer Reports' technology advocacy team, said Griffin is making a reasonable request for a rich company like Microsoft that's shutting down an internet service. "The best way: Give people their money back. The second-best way, give people a credit to all of your services," Higginbotham said.

Amazon has to operate like the "world's largest startup" as it works to meet demand for AI and cut bureaucracy in its ranks, Chief Executive Officer Andy Jassy said in his annual letter to shareholders. From a report: "If your customer experiences aren't planning to leverage these intelligent models, their ability to query giant corpuses of data and quickly find your needle in the haystack, their ability to keep getting smarter with more feedback and data, and their future agentic capabilities, you will not be competitive," Jassy wrote in the letter on Thursday. "It's moving faster than almost anything technology has ever seen."

Amazon, like most of the largest technology companies, has bet heavily on artificial intelligence, committing much of its $100 billion in planned capital expenditures this year to AI-related projects.

Here's one more reason to cling to a steady job: It doesn't pay to quit. From a report: Typically workers who snag a new position see higher pay bumps than those holding down the same job. But in February, median wage growth of 4.4% for job stayers surpassed a 4.2% gain for job switchers, according to data from the Federal Reserve Bank of Atlanta. The change, as measured by a three-month moving average, is yet another sign of a softening labor market. White collar workers have been clinging to their jobs in the face of widespread layoffs and workplace reductions. Last month, employers announced the fastest pace of job cuts since 2020, when factoring in government job losses. And now an oversupply of job seekers means workers are having to settle for smaller pay bumps, said Peter Cappelli, a professor of management at The Wharton School of the University of Pennsylvania.

"That certainly sounds like a big slackening of the job market," Cappelli said. It's a major reversal from the "Great Resignation" a few years ago, when workers left their jobs at unprecedented rates, demanding more benefits and higher pay from employers. At a peak in July 2022, workers who got new jobs saw their wages grow by a whopping 8.5% compared to 5.9% for those who stayed loyal to their company, Atlanta Fed data show.

Intel's stock jumped nearly 19% this week. "However, in the past year through Wednesday's close, Intel stock had fallen 53%," notes Investor's Business Daily: The appointment of Lip-Bu Tan as CEO is a "good start" but Intel has significant challenges, Morgan Stanley analyst Joseph Moore said in a client note. Those challenges include delays in its server chip product line, a very competitive PC chip market, lack of a compelling AI chip offering, and over $10 billion in losses in its foundry business over the past 12 months. There is "no quick fix" for those issues, he said.
"There are things you can do," a Columbia business school associate professor tells the Wall Street Journal in a video interview, "but it's going to be incremental, and it's going to be extremely risky... They will try to be competitive in the foundry manufacturing space," but "It takes very aggressive investments."

Meanwhile, TSMC is exploring a joint venture where they'd operate Intel's factories, even pitching the idea to AMD, Nvidia, Broadcam, and Qualcomm, according to Reuters. (They add that Intel "reported a 2024 net loss of $18.8 billion, its first since 1986," and talked to multiple sources "familiar with" talks about Intel's future). Multiple companies have expressed interest in buying parts of Intel, but two of the four sources said the U.S. company has rejected discussions about selling its chip design house separately from the foundry division. Qualcomm has exited earlier discussions to buy all or part of Intel, according to those people and a separate source. Intel board members have backed a deal and held negotiations with TSMC, while some executives are firmly opposed, according to two sources.
"They say Lip-Bu Tan is the best hope to fix Intel — if Intel can be fixed at all," writes the Wall Street Journal: He brings two decades of semiconductor industry experience, relationships across the sector, a startup mindset and an obsession with AI...and basketball. He also comes with tricky China business relationships, underscoring Silicon Valley's inability to sever itself from one of America's top adversaries... [Intel's] stock has lost two-thirds of its value in four short years as Intel sat out the AI boom...

Manufacturing chips is an enormous expense that Intel can't currently sustain, say industry leaders and analysts. Former board members have called for a split-up. But a deal to sell all or part of Intel to competitors seems to be off the table for the immediate future, according to bankers. A variety of early-stage discussions with Broadcom, Qualcomm, GlobalFoundries and TSMC in recent months have failed to go anywhere, and so far seem unlikely to progress. The company has already hinted at a more likely outcome: bringing in outside financial backers, including customers who want a stake in the manufacturing business...

Tan has likely no more than a year to turn the company around, said people close to the company. His decades of investing in startups and running companies — he founded a multinational venture firm and was CEO of chip design company Cadence Design Systems for 13 years — provide indications of how Tan will tackle this task in the early days: by cutting expenses, moving quickly and trying to turn Intel back into an engineering-first company. "In areas where we are behind the competition, we need to take calculated risks to disrupt and leapfrog," Tan said in a note to Intel employees on Wednesday. "And in areas where our progress has been slower than expected, we need to find new ways to pick up the pace...."

Many take this culture reset to also mean significant cuts at Intel, which already shed about 15,000 jobs last year. "He is brave enough to adjust the workforce to the size needed for the business today," said Reed Hundt, a former Intel board member who has known Tan since the 1990s.

An anonymous reader quotes a report from CyberScoop: Ransomware payments saw a dramatic 35% drop last year compared to 2023, even as the overall frequency of ransomware attacks increased, according to a new report released by blockchain analysis firm Chainalysis. The considerable decline in extortion payments is somewhat surprising, given that other cybersecurity firms have claimed that 2024 saw the most ransomware activity to date. Chainalysis itself warned in its mid-year report that 2024's activity was on pace to reach new heights, but attacks in the second half of the year tailed off. The total amount in payments that Chainalysis tracked in 2024 was $812.55 million, down from 2023's mark of $1.25 billion.

The disruption of major ransomware groups, such as LockBit and ALPHV/BlackCat, were key to the reduction in ransomware payments. Operations spearheaded by agencies like the United Kingdom's National Crime Agency (NCA) and the Federal Bureau of Investigation (FBI) caused significant declines in LockBit activity, while ALPHV/BlackCat essentially rug-pulled its affiliates and disappeared after its attack on Change Healthcare. [...] Additionally, [Chainalysis] says more organizations have become stronger against attacks, with many choosing not to pay a ransom and instead using better cybersecurity practices and backups to recover from these incidents. [...] Chainalysis also says ransomware operators are letting funds sit in wallets, refraining from moving any money out of fear they are being watched by law enforcement.

You can read the full report here.

In a potential U.S.-China conflict, cyberattackers are military weapons. That's the thrust of a new article from the Wall Street Journal: The message from President Biden's national security adviser was startling. Chinese hackers had gained the ability to shut down dozens of U.S. ports, power grids and other infrastructure targets at will, Jake Sullivan told telecommunications and technology executives at a secret meeting at the White House in the fall of 2023, according to people familiar with it. The attack could threaten lives, and the government needed the companies' help to root out the intruders.

What no one at the briefing knew, including Sullivan: China's hackers were already working their way deep inside U.S. telecom networks, too. The two massive hacking operations have upended the West's understanding of what Beijing wants, while revealing the astonishing skill level and stealth of its keyboard warriors — once seen as the cyber equivalent of noisy, drunken burglars. China's hackers were once thought to be interested chiefly in business secrets and huge sets of private consumer data. But the latest hacks make clear they are now soldiers on the front lines of potential geopolitical conflict between the U.S. and China, in which cyberwarfare tools are expected to be powerful weapons. U.S. computer networks are a "key battlefield in any future conflict" with China, said Brandon Wales, a former top U.S. cybersecurity official at the Department of Homeland Security, who closely tracked China's hacking operations against American infrastructure. He said prepositioning and intelligence collection by the hackers "are designed to ensure they prevail by keeping the U.S. from projecting power, and inducing chaos at home."

As China increasingly threatens Taiwan, working toward what Western intelligence officials see as a target of being ready to invade by 2027, the U.S. could be pulled into the fray as the island's most important backer... Top U.S. officials in both parties have warned that China is the greatest danger to American security.

In the infrastructure attacks, which began at least as early as 2019 and are still taking place, hackers connected to China's military embedded themselves in arenas that spies usually ignored, including a water utility in Hawaii, a port in Houston and an oil-and-gas processing facility. Investigators, both at the Federal Bureau of Investigation and in the private sector, found the hackers lurked, sometimes for years, periodically testing access. At a regional airport, investigators found the hackers had secured access, and then returned every six months to make sure they could still get in. Hackers spent at least nine months in the network of a water-treatment system, moving into an adjacent server to study the operations of the plant. At a utility in Los Angeles, the hackers searched for material about how the utility would respond in the event of an emergency or crisis. The precise location and other details of the infrastructure victims are closely guarded secrets, and couldn't be fully determined.

American security officials said they believe the infrastructure intrusions — carried out by a group dubbed Volt Typhoon — are at least in part aimed at disrupting Pacific military supply lines and otherwise impeding America's ability to respond to a future conflict with China, including over a potential invasion of Taiwan... The focus on Guam and West Coast targets suggested to many senior national-security officials across several Biden administration agencies that the hackers were focused on Taiwan, and doing everything they could to slow a U.S. response in a potential Chinese invasion, buying Beijing precious days to complete a takeover even before U.S. support could arrive.
The telecom breachers "were also able to swipe from Verizon and AT&T a list of individuals the U.S. government was surveilling in recent months under court order, which included suspected Chinese agents. The intruders used known software flaws that had been publicly warned about but hadn't been patched."

And ultimately nine U.S. telecoms were breached, according to America's deputy national security adviser for cybersecurity — including what appears to have been a preventable breach at AT&T (according to "one personal familiar with the matter"): [T]hey took control of a high-level network management account that wasn't protected by multifactor authentication, a basic safeguard. That granted them access to more than 100,000 routers from which they could further their attack — a serious lapse that may have allowed the hackers to copy traffic back to China and delete their own digital tracks.
The details of the various breaches are stunning: Chinese hackers gained a foothold in the digital underpinnings of one of America's largest ports in just 31 seconds. At the Port of Houston, an intruder acting like an engineer from one of the port's software vendors entered a server designed to let employees reset their passwords from home. The hackers managed to download an encrypted set of passwords from all the port's staff before the port recognized the threat and cut off the password server from its network...

TPM is a dedicated chip or firmware enabling hardware-level security, housing encryption keys, certificates, passwords, and sensitive data, "and shielding them from unauthorized access," Microsoft senior product manager Steven Hosking wrote last month, declaring TPM 2.0 to be "a non-negotiable standard for the future of Windows."

Or, as BleepingComputer put it, Microsoft "made it abundantly clear... that Windows 10 users won't be able to upgrade to Windows 11 unless their systems come with TPM 2.0 support." (This despite the fact that Statcounter Global data "shows that more than 61% of all Windows systems worldwide still run Windows 10.") They add that Microsoft "announced on October 31 that Windows 10 home users will be able to delay the switch to Windows 11 for one more year if they're willing to pay $30 for Extended Security Updates."

But last week the Free Software Foundation's campaigns manager delivered a message on the FSF's official blog: "Keep putting pressure on Microsoft." Grassroots organization against a corporation as large as Microsoft is never easy. They have the advertising budget to claim that they "love Linux" (sic), not to mention the money and political willpower to corral free software developers from around the world on their nonfree platform Microsoft GitHub. This year's International Day Against DRM took aim at one specific injustice: their requiring a hardware TPM module for users being forced to "upgrade" to Windows 11. As Windows 10 will soon stop receiving security updates, this is a (Microsoft-manufactured) problem for users still on this operating system. Normally, offloading cryptography to a different hardware module could be seen as a good thing — but with nonfree software, it can only spell trouble for the user...

What's crucial now is to keep putting pressure on Microsoft, whether that's through switching to GNU/Linux, avoiding new releases of their software, or actions as simple as moving your projects off of Microsoft GitHub. If you're concerned about e-waste or have friends who work to combat climate change, getting them together to tell them about free software is the perfect way to help our movement grow, and free a few more users from Microsoft's digital restrictions. If you're concerned about e-waste or have friends who work to combat climate change, getting them together to tell them about free software is the perfect way to help our movement grow, and free a few more users from Microsoft's digital restrictions.

An anonymous reader shared this report from the Washington Post: Archer is aiming to launch its first commercially operated [and electrically-powered] flights with a pilot and passengers within a year in Abu Dhabi. A competitor, Joby Aviation, says it is aiming to launch passenger service in Dubai as soon as late 2025. Advancements in batteries and other technologies required for the futuristic tilt-rotor craft are moving so fast that they could soon move beyond the novelty stage and into broader commercial use in a matter of years. Both companies are laying plans to operate at the 2028 Olympics in Los Angeles...

Scaling the industry from a novelty ride for the wealthy to a broadly available commuter option will take billions more in start-up money, executives said, including building out a network of takeoff and landing areas (called vertiports) and charging stations. Some high-profile ventures have already faltered. A plan for air taxis to transport spectators around the Paris Olympics fizzled... Still, investors, including big names like Stellantis and Toyota, have poured money into Silicon Valley companies like Archer and Joby. Boeing and Airbus are developing their own versions. All are betting that quieter, greener and battery-powered aircraft can revolutionize the way people travel. Major U.S. airlines including American, Delta, Southwest and United also are building relationships and planting seeds for deals with air taxi companies.
Two interesting quotes from the article:

• "It feels like the modern-day American Dream, where you can invent a technology and actually bring it to market even [if it's] as crazy as what some people call flying cars."
  
  — Adam Goldstein, CEO of Archer Aviation.

• "They have created these amazing new aircraft that really 10 or 15 years ago would've been unimaginable. I think there's something innately attractive about being able to leapfrog all of your terrestrial obstacles. Who hasn't wished that if you live in the suburbs that, you know, something could drop into your cul-de-sac and 15 minutes later you're at the office."
  
  — Roger Connor, curator of the vertical flight collection at the Smithsonian's National Air and Space Museum.

Thursday New York's governor signed new legislation "to hold polluters responsible for the damage done to our environment" by establishing a Climate Superfund that's paid for by big fossil-fuel companies.

The money will be used for "climate change adaptation," according to New York state senator Liz Krueger, who notes that the legislation follows "the polluter-pays model" used in America's already-existing federal and state superfund laws. Spread out over 25 years, the legislation collects an average of $3 billion each year — or $75 billion — "from the parties most responsible for causing the climate crisis — big oil and gas companies."

"The Climate Change Superfund Act is now law, and New York has fired a shot that will be heard round the world: the companies most responsible for the climate crisis will be held accountable," said Senator Krueger. "Too often over the last decade, courts have dismissed lawsuits against the oil and gas industry by saying that the issue of climate culpability should be decided by legislatures. Well, the Legislature of the State of New York — the 10th largest economy in the world — has accepted the invitation, and I hope we have made ourselves very clear: the planet's largest climate polluters bear a unique responsibility for creating the climate crisis, and they must pay their fair share to help regular New Yorkers deal with the consequences.

"And there's no question that those consequences are here, and they are serious," Krueger continued. "Repairing from and preparing for extreme weather caused by climate change will cost more than half a trillion dollars statewide by 2050. That's over $65,000 per household, and that's on top of the disruption, injury, and death that the climate crisis is causing in every corner of our state. The Climate Change Superfund Act is a critical piece of affordability legislation that will deliver billions of dollars every year to ease the burden on regular New Yorkers...."

Starting in the 1970s, scientists working for Exxon made "remarkably accurate projections of just how much burning fossil fuels would warm the planet." Yet for years, "the oil giant publicly cast doubt on climate science, and cautioned against any drastic move away from burning fossil fuels, the main driver of climate change."
"The oil giant Saudi Aramco of Saudi Arabia could be slapped with the largest annual assessment of any company — $640 million a year — for emitting 31,269 million tons of greenhouse gases from 2000 to 2020," notes the New York Post.

And "The law will also standardize the number of emissions tied to the fuel produced by companies," reports the Times Union newspaper. "[F]or every 1 million pounds of coal, for example, the program assigns over 942 metric tons of carbon dioxide. For every 1 million barrels of crude oil, an entity is considered to have produced 432,180 metric tons of carbon dioxide." Among the infrastructure programs the superfund program aims to pay for: coastal wetlands restoration, energy efficient cooling systems in buildings, including schools and new housing developments, and stormwater drainage upgrades.
New York is now the second U.S. state with a "climate Superfund" law, according to Bloomberg Law, with New York following the lead of Vermont. "Maryland, Massachusetts, and California are also considering climate Superfund laws to manage mounting infrastructure costs." The American Petroleum Institute, which represents about 600 members of the industry, condemned the law. "This type of legislation represents nothing more than a punitive new fee on American energy, and we are evaluating our options moving forward," an API spokesperson said in an emailed statement... The bills — modeled after the federal Comprehensive Environmental Response, Compensation, and Liability Act, known as Superfund — would almost certainly spur swift litigation from fossil fuel companies upon enactment, legal educators say.

Brazilian officials are scrambling to control a gambling boom that has led some citizens to take out loans with interest rates as high as 438% to fund their betting habits, sparking concerns about household debt levels.

The surge in online betting has doubled Brazil's gambling population to 52 million in six months, with the central bank estimating monthly gambling spending between 18-21 billion reais ($3.1-3.6 billion) through August 2024. Central Bank President Roberto Campos Neto said lower-income families are disproportionately affected, with 20% of government social program payments in August directed to online gambling sites.

The Finance Ministry has accelerated regulatory measures, requiring over 100 betting companies to submit operating paperwork ahead of schedule. New rules starting January 1 will allow authorities to limit bet amounts, block payment systems, and monitor for money laundering. President Luiz Inacio Lula da Silva recently raised concerns at the UN about gambling's impact on Brazil's poorest citizens, while officials are moving to ban credit card use for betting and restrict gambling advertisements.

This week's Ubuntu Summit 2024 was attended by Lproven (Slashdot reader #6,030). He's also a FOSS correspondent for the Register, where he's filed this report: One of the first full-length sessions was presented by David Morin, executive director of the Academy Software Foundation, introducing his organization in a talk about Open Source Software for Motion Pictures. Morin linked to the Visual Effects Society's VFX/Animation Studio Workstation Linux Report, highlighting the market share pie-chart, showing Rocky Linux 9 with at some 58 percent and the RHELatives in general at 90 percent of the market. Ubuntu 22 and 24 — the report's nomenclature, not this vulture's — got just 10.5 percent. We certainly didn't expect to see that at an Ubuntu event, with the latest two versions of Rocky Linux taking 80 percent of the studio workstation market...

What also struck us over the next three quarters of an hour is that Linux and open source in general seem to be huge components of the movie special effects industry — to an extent that we had not previously realized.
There's a "sizzle reel" showing examples of how major motion pictures used OpenColorIO, an open-source production tool for syncing color representations originally developed by Sony Pictures Imageworks. That tool is hosted by a collaboration between the Linux Foundation with the Science and Technology Council of the Academy of Motion Picture Arts and Sciences (the "Academy" of the Academy Awards). The collaboration — which goes by the name of the Academy Software Foundation — hosts 14 different projects The ASWF hasn't been around all that long — it was only founded in 2018. Despite the impact of the COVID pandemic, by 2022 it had achieved enough to fill a 45-page history called Open Source in Entertainment [PDF]. Morin told the crowd that it runs events, provides project marketing and infrastructure, as well as funding, training and education, and legal assistance. It tries to facilitate industry standards and does open source evangelism in the industry. An impressive list of members — with 17 Premier companies, 16 General ones, and another half a dozen Associate members — shows where some of the money comes from. It's a big list of big names. [Adobe, AMD, AWS, Autodesk...]
The presentation started with OpenVBD, a C++ library developed and donated by Dreamworks for working with three-dimensional voxel-based shapes. (In 2020 they created this sizzle reel, but this year they've unveiled a theme song.) Also featured was OpenEXR, originally developed at Industrial Light and Magic and sourced in 1999. (The article calls it "a specification and reference implementation of the EXR file format — a losslessly compressed image storage format for moving images at the highest possible dynamic range.")

"For an organization that is not one of the better-known ones in the FOSS space, we came away with the impression that the ASWF is busy," the article concludes. (Besides running Open Source Days and ASWF Dev Days, it also hosts several working groups like the Language Interop Project works on Rust bindings and the Continuous Integration Working Group on CI tools, There's generally very little of the old razzle-dazzle in the Linux world, but with the demise of SGI as the primary maker of graphics workstations — its brand now absorbed by Hewlett Packard Enterprise — the visual effects industry moved to Linux and it's doing amazing things with it. And Kubernetes wasn't even mentioned once.

Longtime Slashdot reader schwit1 shares an op-ed written by Michael R. Bloomberg, founder and majority owner of Bloomberg LP, the parent company of Bloomberg News, UN Special Envoy on Climate Ambition and Solutions, and chair of the Defense Innovation Board: There are government boondoggles, and then there's NASA's Artemis program. More than a half century after Neil Armstrong's giant leap for mankind, Artemis was intended to land astronauts back on the moon. It has so far spent nearly $100 billion without anyone getting off the ground, yet its complexity and outrageous waste are still spiraling upward. The next US president should rethink the program in its entirety. As someone who greatly respects science and strongly supports space exploration, the more I have learned about Artemis, the more it has become apparent that it is a colossal waste of taxpayer money. [...]

A celestial irony is that none of this is necessary. A reusable SpaceX Starship will very likely be able to carry cargo and robots directly to the moon -- no SLS, Orion, Gateway, Block 1B or ML-2 required -- at a small fraction of the cost. Its successful landing of the Starship booster was a breakthrough that demonstrated how far beyond NASA it is moving. Meanwhile, NASA is canceling or postponing promising scientific programs -- including the Veritas mission to Venus; the Viper lunar rover; and the NEO Surveyor telescope, intended to scan the solar system for hazardous asteroids -- as Artemis consumes ever more of its budget. Taxpayers and Congress should be asking: What on Earth are we doing? And the next president should be held accountable for answers.