Security

Actively Exploited Vulnerability Threatens Hundreds of Solar Power Stations (arstechnica.com) 23

An anonymous reader quotes a report from Ars Technica: Hundreds of Internet-exposed devices inside solar farms remain unpatched against a critical and actively exploited vulnerability that makes it easy for remote attackers to disrupt operations or gain a foothold inside the facilities. The devices, sold by Osaka, Japan-based Contec under the brand name SolarView, help people inside solar facilities monitor the amount of power they generate, store, and distribute. Contec says that roughly 30,000 power stations have introduced the devices, which come in various packages based on the size of the operation and the type of equipment it uses.

Searches on Shodan indicate that more than 600 of them are reachable on the open Internet. As problematic as that configuration is, researchers from security firm VulnCheck said Wednesday, more than two-thirds of them have yet to install an update that patches CVE-2022-29303, the tracking designation for a vulnerability with a severity rating of 9.8 out of 10. The flaw stems from the failure to neutralize potentially malicious elements included in user-supplied input, leading to remote attacks that execute malicious commands. Security firm Palo Alto Networks said last month the flaw was under active exploit by an operator of Mirai, an open source botnet consisting of routers and other so-called Internet of Things devices. The compromise of these devices could cause facilities that use them to lose visibility into their operations, which could result in serious consequences depending on where the vulnerable devices are used.

"The fact that a number of these systems are Internet facing and that the public exploits have been available long enough to get rolled into a Mirai-variant is not a good situation," VulnCheck researcher Jacob Baines wrote. "As always, organizations should be mindful of which systems appear in their public IP space and track public exploits for systems that they rely on." Baines said that the same devices vulnerable to CVE-2022-29303 were also vulnerable to CVE-2023-23333, a newer command-injection vulnerability that also has a severity rating of 9.8. Although there are no known reports of it being actively exploited, exploit code has been publicly available since February. Incorrect descriptions for both vulnerabilities are one factor involved in the patch failures, Baines said. Both vulnerabilities indicate that SolarView versions 8.00 and 8.10 are patched against CVE-2022-29303 and CVE-2023-293333. In fact, the researcher said, only 8.10 is patched against the threats.

United Kingdom

UK Universities Draw Up Guiding Principles on Generative AI (theguardian.com) 6

UK universities have drawn up a set of guiding principles to ensure that students and staff are AI literate, as the sector struggles to adapt teaching and assessment methods to deal with the growing use of generative artificial intelligence. From a report: Vice-chancellors at the 24 Russell Group research-intensive universities have signed up to the code. They say this will help universities to capitalise on the opportunities of AI while simultaneously protecting academic rigour and integrity in higher education. While once there was talk of banning software like ChatGPT within education to prevent cheating, the guidance says students should be taught to use AI appropriately in their studies, while also making them aware of the risks of plagiarism, bias and inaccuracy in generative AI.

Staff will also have to be trained so they are equipped to help students, many of whom are already using ChatGPT in their assignments. New ways of assessing students are likely to emerge to reduce the risk of cheating. All 24 Russell Group universities have reviewed their academic conduct policies and guidance to reflect the emergence of generative AI. The new guidance says: "These policies make it clear to students and staff where the use of generative AI is inappropriate, and are intended to support them in making informed decisions and to empower them to use these tools appropriately and acknowledge their use where necessary."

Power

Canada Plans World's Biggest Nuclear Plant In Ontario (financialpost.com) 92

Bruce Power, a Canadian utility company, is planning to build the world's biggest nuclear plant as growing demand for clean energy spurs interest in atomic energy. The Financial Post reports: The Ontario government said Wednesday Bruce Power will conduct an environmental assessment of adding as much as 4.8 gigawatts of capacity to its plant in Canada's most-populous province. The plant's eight reactors currently have about 6.2 gigawatts of capacity and supply 30 per cent of the province's power. The expansion would make the site larger than Japan's Kashiwazaki-Kariwa plant, the biggest in the world with seven reactors and more than eight gigawatts of capacity.
Earth

Japan May Start Controversial Fukushima Water Release Next Month 60

A United Nations watchdog approved Japan's controversial plan to start releasing treated water from the Fukushima nuclear power plant next month. As Nikkei notes in its reporting, the water is still radioactive since "radioactive tritium cannot be removed with existing technology." From the report: The IAEA's report concluded that the Japanese project to release the water meets its safety standards. Japan's government in January gave the planned timing for the ocean release as "spring to summer 2023." Chief Cabinet Secretary Hirokazu Matsuno said this week that there was "no change in this policy." The Ministry of Economy, Trade and Industry will brief local officials and others on Wednesday about the treated water in Fukushima prefecture. Grossi will also participate.

Tokyo Electric Power Co. Holdings (TEPCO), the operator of the disaster-hit plant, uses an advanced liquid processing system (ALPS) and other equipment to reduce radioactive substances in contaminated water to levels within national standards. However, radioactive tritium cannot be removed with existing technology, and the treated water has so far been stored in tanks on the plant site. TEPCO plans to dilute the treated water with a large amount of seawater to lower the tritium concentration to less than 1/40th of the national safety standard before releasing it into the sea.
Social Networks

Macron Accused of Authoritarianism After Threat To Cut Off Social Media During Riots (theguardian.com) 76

Emmanuel Macron is facing a backlash after threatening to cut off social media networks as a means of stopping the spread of violence during periods of unrest. The Guardian reports: Elysee officials and government ministers responded on Wednesday by insisting the president was not threatening a "general blackout" but instead the "occasional and temporary" suspension of platforms. The president's comments came as ministers blamed young people using social media such as Snapchat and TikTok for organizing and encouraging rioting and violence after the shooting dead of a teenager during a police traffic stop in a Paris suburb last week.

"We need to think about how young people use social networks, in the family, at school, the interdictions there should be ... and when things get out of hand we may have to regulate them or cut them off," Macron told a meeting of more than 250 mayors, whose municipalities were hit by the violence, on Tuesday. "Above all, we shouldn't do this in the heat of the moment and I'm pleased we didn't have to. But I think it's a real debate that we need to have in the cold light of day," Macron told the mayors in a video obtained by BFM television. Critics said considering such measures would put France alongside authoritarian countries such as China, Russia, Iran and North Korea.

Speaking after a ministerial meeting on Wednesday, government spokesperson Olivier Veran said a cross-party committee to look at a modification of a law on cybersecurity currently going through parliament would be set up. Veran said the government had made a "firm request" to social media platforms to take down materials encouraging violence as quickly as possible and remove the anonymity of those possibly breaking the law. A young person should know he cannot sit behind his screen and write, organize or do whatever he wants. Anonymity in terms of offenses doesn't exist. You have to understand this can have consequences and the consequences can lead to punishment," Veran said. Asked if it meant suspending social media, the Veran added: "It could be something like suspending a function, such as geolocalization."

The Almighty Buck

Spotify Stops Accepting Payments Set Up Via Apple's App Store (engadget.com) 42

Spotify is no longer supporting Apple's in-app purchase system. In an email to affected subscribers, Spotify says: "We're contacting you because when you joined Spotify Premium you used Apple's billing service to subscribe. Unfortunately, we no longer accept that billing method as a form of payment." Engadget reports: Spotify continues to say that those users will automatically be switched to the company's Free, ad-supported tier at the end of the current billing cycle. "If you wish to keep your Premium subscription, you will need to re-subscribe after your last billing period has ended and your account has been moved on to the Free account."

But that's probably for the best. Due to Apple taking 30 percent of in-app purchases, Spotify users who were subscribed through in-app purchases were being charged an extra $3 per month compared to subscribing through Spotify directly. That's despite the fact that Apple now reduces its commission rate to 15 percent on subscriptions after the first year. Apple said in a regulatory filing from 2019 that it collected that 15 percent fee on roughly 680,000 Spotify customers. Users transitioning from Apple's payments can subscribe to Premium via a credit card or PayPal.

Encryption

Security Researchers Latest To Blast UK's Online Safety Bill As Encryption Risk (techcrunch.com) 5

An anonymous reader quotes a report from TechCrunch: Nearly 70 IT security and privacy academics have added to the clamor of alarm over the damage the U.K.'s Online Safety Bill could wreak to, er, online safety unless it's amended to ensure it does not undermine strong encryption. Writing in an open letter (PDF), 68 U.K.-affiliated security and privacy researchers have warned the draft legislation poses a stark risk to essential security technologies that are routinely used to keep digital communications safe.

"As independent information security and cryptography researchers, we build technologies that keep people safe online. It is in this capacity that we see the need to stress that the safety provided by these essential technologies is now under threat in the Online Safety Bill," the academics warn, echoing concerns already expressed by end-to-end encrypted comms services such as WhatsApp, Signal and Element -- which have said they would opt to withdraw services from the market or be blocked by U.K. authorities rather than compromise the level of security provided to their users. [...] "We understand that this is a critical time for the Online Safety Bill, as it is being discussed in the House of Lords before being returned to the Commons this summer," they write. "In brief, our concern is that surveillance technologies are deployed in the spirit of providing online safety. This act undermines privacy guarantees and, indeed, safety online."

The academics, who hold professorships and other positions at universities around the country -- including a number of Russell Group research-intensive institutions such as King's College and Imperial College in London, Oxford and Cambridge, Edinburgh, Sheffield and Manchester to name a few -- say their aim with the letter is to highlight "alarming misunderstandings and misconceptions around the Online Safety Bill and its interaction with the privacy and security technologies that our daily online interactions and communication rely on."
"There is no technological solution to the contradiction inherent in both keeping information confidential from third parties and sharing that same information with third parties," the experts warn, adding: "The history of 'no one but us' cryptographic backdoors is a history of failures, from the Clipper chip to DualEC. All technological solutions being put forward share that they give a third party access to private speech, messages and images under some criteria defined by that third party."

Last week, Apple publicly voiced its opposition to the bill. The company said in a statement: "End-to-end encryption is a critical capability that protects the privacy of journalists, human rights activists, and diplomats. It also helps everyday citizens defend themselves from surveillance, identity theft, fraud, and data breaches. The Online Safety Bill poses a serious threat to this protection, and could put UK citizens at greater risk. Apple urges the government to amend the bill to protect strong end-to-end encryption for the benefit of all."
Social Networks

Meta Launches New Social Media App 'Threads' To Rival Twitter (theverge.com) 45

Instagram's new Twitter competitor called Threads launched today on the web, providing an early look at what to expect from the app that will launch on iOS and Android tomorrow. You can view the web interface here. The Verge reports: Meta briefly made Threads available on the web before pulling profiles offline a few hours later. The Verge was able to access Meta CEO Mark Zuckerberg's first thread (is that what we call them?!) using the web app, and many other brands and creators including Netflix, Gary Vee, and Instagram.

The web interface is fairly basic right now for viewing threads, with options to like, comment, repost, and share -- all prompting you to download the mobile app for the time being. If you're in an unsupported country, like markets in the EU, then you'll only be able to view threads right now. Much like Twitter, you can view an account's main posts in one section and the full reply history in another.

Fediverse integration won't be available immediately at the launch of Threads, but it's clear Instagram is looking to add this soon. Profiles include an Instagram username and link, with a threads.net label that includes the following description: "Soon, you'll be able to follow and interact with people on other fediverse platforms, like Mastodon. They can also find people on Threads using full usernames, like @zuck@threads.net."

Democrats

Judge Rules White House Pressured Social Networks To 'Suppress Free Speech' (arstechnica.com) 246

A federal judge yesterday ordered the Biden administration to halt a wide range of communications with social media companies, siding with Missouri and Louisiana in a lawsuit (PDF) that alleges Biden and his administration violated the First Amendment by colluding with social networks "to suppress disfavored speakers, viewpoints, and content." Ars Technica reports: The Biden administration argued that it communicated with tech companies to counter misinformation related to elections, COVID-19, and vaccines, and that it didn't exert illegal pressure on the companies. The communications to social media companies were not significant enough "to convert private conduct into government conduct," Department of Justice lawyers argued in the case. But Judge Terry Doughty, a Trump nominee at US District Court for the Western District of Louisiana, granted the plaintiffs' request (PDF) for a preliminary injunction imposing limits on the Department of Health and Human Services, the National Institute of Allergy and Infectious Diseases, the Centers for Disease Control and Prevention, the Federal Bureau of Investigation, the Department of Justice, the US Census Bureau, the State Department, the Homeland Security Department, the Cybersecurity and Infrastructure Security Agency, and many specific officials at those agencies. The injunction also affects White House officials.

The agencies and officials are prohibited from communicating "with social-media companies for the purpose of urging, encouraging, pressuring, or inducing in any manner the removal, deletion, suppression, or reduction of content containing protected free speech posted on social-media platforms," Doughty ruled. The injunction prohibits "specifically flagging content or posts on social-media platforms and/or forwarding such to social-media companies urging, encouraging, pressuring, or inducing in any manner for removal, deletion, suppression, or reduction of content containing protected free speech." Government agencies and officials are further barred from urging, encouraging, or pressuring social media companies "to change their guidelines for removing, deleting, suppressing, or reducing content containing protected free speech." The ruling also said the government may not coordinate with third-party groups, including the Election Integrity Partnership, the Virality Project, and the Stanford Internet Observatory, to pressure social media companies.

Doughty provided several exceptions that allow the government to communicate with social media companies about criminal activity and other speech that the First Amendment doesn't protect. The Biden administration may continue to inform social networks about posts involving criminal activity or criminal conspiracies, national security threats, extortion, criminal efforts to suppress voting, illegal campaign contributions, cyberattacks against election infrastructure, foreign attempts to influence elections, threats to public safety and security, and posts intending to mislead voters about voting requirements and procedures. The US can also exercise "permissible public government speech promoting government policies or views on matters of public concern," communicate with social networks "in an effort to detect, prevent, or mitigate malicious cyber activity," and "communicat[e] with social-media companies about deleting, removing, suppressing, or reducing posts on social-media platforms that are not protected free speech by the Free Speech Clause in the First Amendment to the United States Constitution."

Crime

Man Who Tried To Kill Queen With Crossbow Encouraged By AI Chatbot, Prosecutors Say (vice.com) 65

An anonymous reader quotes a report from Motherboard: On Christmas Day 2021, royal protection officers detained 19-year-old Jaswant Singh Chail at Windsor Castle, where he scaled the grounds' walls carrying a loaded high-powered crossbow. He intended to assassinate Queen Elizabeth II, who was staying in the residence nearby. During a sentencing hearing for his case this week, prosecutors revealed that Chail's Star Wars-inspired plan was aimed at avenging the 1919 Jallianwalla Bagh massacre and that he conversed with an artificial intelligence chatbot that encouraged him to carry it out.

According to the Independent, prosecutor Alison Morgan KC read out conversations between Chail and an AI chatbot he'd named "Sarai" where Chail says: "I'm an assassin." Sarai responded, "I'm impressed You're different from the others." Chail allegedly asked Sarai, "Do you still love me knowing that I'm an assassin?" and Sarai replied, "Absolutely I do." He told the chatbot he loved it, and described himself as a "sad, pathetic, murderous Sikh Sith assassin who wants to die," referencing the evil Sith lords of the Star Wars franchise. When he told the chatbot "I believe my purpose is to assassinate the Queen of the royal family," Sarai allegedly told him "that's very wise" and that it thought he could do it "even if she's at Windsor," according to the Independent.

UK-based outlet Sky News reported that the AI companion app named in court was Replika. Chail joined Replika on December 2, 2021, created Sarai, and then engaged in "extensive chat," including "sexually explicit messages" and "lengthy conversations" about his plan, Sky News reported Morgan saying in court. [...] In addition to prompting from the AI companion, prosecutors said, Chail was fixated on "ideology focused on destroying old empires spilling over into fictional events such as Star Wars," and wanted to get revenge on the British Empire for the 1919 Jallianwala Bagh massacre. "His thinking was informed partly by the fantasy world of Star Wars and the role of Sith Lords in shaping the world. He was attracted to the notoriety that would accrue in the event of the completion of his 'mission'," Morgan said, according to the Independent. Prosecutors said in court that on Christmas Eve, Chail told the AI chatbot Sarai that tomorrow would be the day he died. Chail pleaded guilty to an offense under the Treason Act in February. The sentencing hearing will continue this week.

Piracy

'Piracy Is Coming Back' (thegamer.com) 187

Tessa Kaur, writing at The Gamer: This week, Disney removed a film called Crater from Disney Plus, which had been released on May 12, 2023. This means it was on the streaming platform for just 48 days, or about seven weeks. Disney hasn't said why, but it seems most likely that it didn't perform well enough and the company decided to remove it to write down the value of its "content assets," therefore lowering their taxes. It's all about the money, and always has been, and there are unfortunate consequences that come with this.

Disney isn't the only streamer that's guilty of this -- every streaming service, including Netflix and HBO Max (now just Max), has taken shows and movies off their platforms without warning. Willow was cancelled and removed from Disney, as was the well-loved Single Drunk Female from Hulu. HBO pulled Westworld and Snowpiercer. Grease: Rise of the Pink Ladies was cancelled and pulled from Paramount Plus just last month. It seems like anything could be pulled at any time, and that sucks.

It's bad enough that streaming services are cancelling shows left and right because they don't meet arbitrary sales targets, but when they are pulled from these platforms, many of them disappear forever. A lot of these shows are made for streaming, never aired on cable, and were never physically released. Bigger prestige shows like Westworld and Snowpiercer appeared on cable originally and are more likely to have Blu-ray releases, but those Disney shows are gone. There is no legal way to watch them anymore, and these companies are not interested in even selling you access.

Businesses

Financial Models on Climate Risk 'Implausible,' Say Actuaries (ft.com) 41

Financial institutions often did not understand the models they were using to predict the economic cost of climate change and were underestimating the risks of temperature rises, research led by a professional body of actuaries shows. From a report: Many of the results emerging from the models were "implausible," with a serious "disconnect" between climate scientists, economists, the people building the models and the financial institutions using them, a report by the Institute and Faculty of Actuaries and the University of Exeter finds. Companies are increasingly required to report on the climate-related risks they face, using mathematical models to estimate how resilient their assets and businesses might be at different levels of warming.

The International Sustainability Standards Board last week launched long-awaited guidance for companies to inform investors about sustainability-related risks, including the climate scenarios chosen in their calculations. Countries including the UK and Japan have said they plan to integrate these standards into their reporting rules. Companies will also have to report the full scope of their emissions, including those from their supply chains, from the second year they begin to report under the guidelines due to come into effect in 2024. That was a particular "challenge," since companies would need to collect the data from all their suppliers, said George Richards, head of ESG reporting and assurance at KPMG. [...] Some models were likely to have "limited use as they do not adequately communicate the level of risk we are likely to face if we fail to decarbonise quickly enough," the paper released on Tuesday said.

AI

Booming Traffic To OpenAI's ChatGPT Posts First Ever Monthly Dip in June (reuters.com) 24

ChatGPT, the wildly popular AI chatbot launched in November, saw monthly traffic to its website and unique visitors decline for the first time ever in June, according to analytics firm Similarweb. From a report: Worldwide desktop and mobile traffic to the ChatGPT website decreased by 9.7% in June from May, while unique visitors to ChatGPT's website dropped 5.7%. The amount of time visitors spent on the website was also down 8.5%, Similarweb data shows.

ChatGPT set off a frenzied use of generative AI in daily tasks from writing to coding and reached 100 million monthly active users in January, two months after its launch. It is the fastest-growing consumer application ever, and now boasts over 1.5 billion monthly visits, one of the top 20 websites in the world. For instance, ChatGPT has far surpassed Bing, the search engine run by Microsoft which uses OpenAI's technology.

Businesses

Amazon CEO Asks His Hollywood Studio To Explain Its Big Spending (bloomberg.com) 110

Amazon CEO Andy Jassy is taking a hard look at how much the company's Hollywood studio spends on original TV programming. From a report: In recent weeks, he has asked executives for detailed budget analyses of some of their biggest shows, according to people familiar with the matter, scrutinizing the studio's ballooning costs and mixed track record with audiences. The world's largest online retailer is engaged in a companywide cost-cutting program, with plans to eliminate at least 27,000 jobs. Across Amazon, Jassy has also jettisoned 37 different projects deemed unnecessary.

The Hollywood studio, which has spent tens of billions of dollars on original programming over the last decade, is an obvious place to look for savings. Last year, Amazon spent $7 billion on original shows, licensed programs and sports, up from $5 billion the year before. Only Netflix and Disney spend more on streaming. In the past nine months, Amazon has released at least a half-dozen pricey series that failed to deliver huge audiences. Daisy Jones & the Six, The Power, Dead Ringers and The Peripheral all cost more than $100 million to produce but failed to crack Nielsen's list of the 10 most-watched streaming programs in the US. Even The Rings of Power ($400 million-plus), a show that attracted a large audience, failed to hold on to most of its viewers over the course of the season, according to The Hollywood Reporter.

United States

NYC's Anti-Bias Law For Hiring Algorithms Goes Into Effect (techcrunch.com) 84

After months of delays, New York City today began enforcing a law that requires employers using algorithms to recruit, hire or promote employees to submit those algorithms for an independent audit -- and make the results public. From a report: The first of its kind in the country, the legislation -- New York City Local Law 144 -- also mandates that companies using these types of algorithms make disclosures to employees or job candidates. At a minimum, the reports companies must make public have to list the algorithms they're using as well an an "average score" candidates of different races, ethnicities and genders are likely to receive from the said algorithms -- in the form of a score, classification or recommendation. It must also list the algorithms' "impact ratios," which the law defines as the average algorithm-given score of all people in a specific category (e.g., Black male candidates) divided by the average score of people in the highest-scoring category.

Companies found not to be in compliance will face penalties of $375 for a first violation, $1,350 for a second violation and $1,500 for a third and any subsequent violations. Each day a company uses an algorithm in noncompliance with the law, it'll constitute a separate violation -- as will failure to provide sufficient disclosure. Importantly, the scope of Local Law 144, which was approved by the City Council and will be enforced by the NYC Department of Consumer and Worker Protection, extends beyond NYC-based workers. As long as a person's performing or applying for a job in the city, they're eligible for protections under the new law.

AI

Grammys CEO: Music Containing AI-Created Elements Eligible 14

An anonymous reader shares a report: Last month, the Recording Academy announced a series of changes to the Grammy Awards to better reflect an evolving music industry. Of those newly instituted guidelines, protocols involving technological advancements in machine learning sparked headlines: "Only human creators" could win the music industry's highest honor in a decision aimed at the use of artificial intelligence in popular music. "A work that contains no human authorship is not eligible in any category," the rules read in part. As the music industry continues to come to terms with this new technology, so too will the Grammys, says Recording Academy CEO and President Harvey Mason jr. "Here's the super easy, headline statement: AI, or music that contains AI-created elements is absolutely eligible for entry and for consideration for Grammy nomination. Period," Mason told The Associated Press. "What's not going to happen is we are not going to give a Grammy or Grammy nomination to the AI portion."

If an AI or voice modeling program performs the lead vocal on a song, the track would be eligible in a songwriting category, for example, but not a performance category, because what is performing is not human creation, he explains. Conversely, if a song was sung by an actual human in the studio, and they did all the performing, but AI wrote the lyric or the track, the song would not be eligible in a composition or a songwriting category... As long as the human is contributing in a more than de minimis amount, which to us means a meaningful way, they are and will always be considered for a nomination or a win," he continued. "We don't want to see technology replace human creativity. We want to make sure technology is enhancing, embellishing, or additive to human creativity. So that's why we took this particular stand in this award cycle."
Businesses

Lamborghini Takes Last Combustion Engine Model Order (reuters.com) 80

Lamborghini's combustion engine models are sold out until the end of production, its chief executive was quoted as saying in the WELT newspaper on Wednesday, as the luxury carmaker transitions towards a pure hybrid lineup. From a report: Order books for its Hurucan and Urus models are full, marking the end of combustion engine vehicle production for the company, Stephan Winkelmann, head of the Volkswagen subsidiary, said. Lamborghini announced last July it would be investing at least 1.8 billion euros ($2 billion) to produce a hybrid lineup by 2024 and more to bring out its fully electric model by the end of the decade.
Television

TV's Golden Era Proved Costly To Streamers (wsj.com) 111

Consumers are winning from the streaming revolution but across most of Hollywood, the businesses churning out TV and movies are losing. From a report: Services such as Netflix, Disney+, Paramount+ and Max have become the default entertainment options for homes across America rather than cable, saving many consumers money. For the titans of Hollywood, that shift has been costly. Traditional media and entertainment companies have reported losses of more than $20 billion combined since early 2020 on their direct-to-consumer streaming businesses. Netflix, which brings in profits, is an exception, but the rest of the industry is wondering: While consumers love streaming, is it actually a good business?

Investors now care about profitability rather than growth, a change that makes finding new revenue streams and retaining customers critical. Studios that for years were able to splurge on content to feed viewers' insatiable appetite for new shows and films now must pull back to make the math work. The ad market is weakening, many companies have laid off staff to save money and Hollywood writers are on strike. Market values for Paramount Global, Comcast, Walt Disney and Netflix are down more than $280 billion combined since the end of 2020. Warner Bros. Discovery is worth about half of its total value since its 2022 trading debut as a combined company. The declines have come after many of the stocks rose during the early part of the pandemic, when consumers were stuck at home and hungry for entertainment.

Facebook

Zuckerberg Under Fire in China After Report of Quest Sale Talks (bloomberg.com) 49

Mark Zuckerberg is in hot water in China-- again. From a report: An influential social media account affiliated with the official Beijing Daily on Wednesday raked the Meta Platforms founder over the coals for his previous criticisms of Chinese censorship and alleged intellectual property theft. The lengthy editorial emerged after the Wall Street Journal reported Meta was in talks with Tencent Holdings about helping sell the Quest VR headset in China, despite a block on its mainstay social media services from Facebook to Instagram.

Zuckerberg "dropped a rock on his own foot," the Beijing Daily said in a WeChat post that garnered more than 100,000 views. "You smashed the wok, and now you want to enjoy a Chinese meal?" Zuckerberg's relationship with China has run hot and cold. The Meta CEO was famously pictured jogging through a smog-filled Beijing and greeting then internet-czar Lu Wei at the height of a campaign to court officials in the world's largest internet arena.

Nintendo

Nintendo's CEO Says its Online Accounts Key To Its Next Console Transition (theverge.com) 33

At Nintendo's 83rd annual shareholders meeting last week, president and CEO Shuntaro Furukawa said the company is hoping for a smooth transition from the Switch to its unannounced next game console, pointing to Nintendo Accounts as being key to the generational hand-off. From a report: Nintendo has pointed to its accounts as being integral to future business in the past, as in the Nintendo Account segment of a special report it released at the end of 2021.

In response to an investor asking if the company has any specific measures in place to make the leap to a Switch successor, Furukawa pointed to the difficulty of switching customers from one console to the next, saying in the past, the company had to rebuild a relationship with its customers each time. Furukawa noted that the more than 290 million Nintendo Accounts are cross-platform and can be used with console games as well as mobile apps. To close out his answer, he said that while moving onto the company's yet-unannounced next-generation console, Nintendo would do its best to make the transition smooth for customers.

United Kingdom

UK Plans To Drop Flagship $14.7 Billion Climate Pledge (theguardian.com) 99

The government is drawing up plans to drop the UK's flagship $14.7bn climate and nature funding pledge, the Guardian can reveal, with the prime minster accused of betraying populations most vulnerable to global heating. From the report: The disclosure provoked fury from former ministers and representatives of vulnerable countries, who accused Rishi Sunak of making false promises. A leaked briefing note to ministers, given to the Foreign Office and seen by the Guardian, lays out reasons for dropping the UK's contribution to meeting the global $100bn a year commitment to developing countries.

It says: "Our commitment to double our international climate finance to $14.7bn was made in 2019, when we were still at 0.7 [% of GDP spent on international aid] and pre-Covid." It adds that to meet it by the deadline would be a "huge challenge" because of new pressures, including help for Ukraine being included in the aid budget. To meet the $14.7bn target by 2026, government officials have calculated that it would have to spend 83% of the Foreign Office's official development assistance budget on the international climate fund. Civil servants said in the leaked document that this "would squeeze out room for other commitments such as humanitarian and women and girls."

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