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The Almighty Buck

Gen Z Leads Biggest Drop In FICO Scores Since Financial Crisis 40

An anonymous reader quotes a report from Bloomberg: Gen Z borrowers took the biggest hit of any age group this year, helping pull overall credit scores lower in the worst year for US consumer credit quality since the global financial crisis roiled the world's economy. The average FICO score slipped to 715 in April from 717 a year earlier, marking the second consecutive year-over-year drop, according to a report released Tuesday by Fair Isaac Corp. The average score dropped three points to 687 in 2009.

Gen Z borrowers saw the largest drop, not only this year, but of any age group since 2020, with their average score falling three points to 676, the Montana-based creator of the FICO credit score said. FICO scores are a measure of consumer credit risk and are frequently used by US banks to assess whether to provide loans. The scores typically range from 300 to 850. The credit scoring agency attributed the recent overall drop to higher rates of utilization and delinquency, including the resumption of reporting student loan delinquencies -- a category that hit a record high of 3.1% of the entire scorable population. [...] While the overall average score dropped, the median FICO score continued to rise to 745 from 744 a year ago, indicating that a large drop in scores at the low end dragged down the average.
Businesses

LimeWire Acquires Fyre Festival Brand 29

LimeWire, once notorious for fueling online piracy, has acquired the rights to the infamously disastrous Fyre Festival brand. "LimeWire Acquires Fyre Festival Brand -- What Could Possibly Go Wrong?" the company titled its news release.

LimeWire said it would "unveil a reimagined vision for Fyre -- one that expands beyond the digital realm and taps into real-world experiences, community, and surprise." No additional details were announced about the relaunch.

"Fyre became a symbol of hype gone wrong, but it also made history," LimeWire CEO Julian Zehetmayr said. "We're not bringing the festival back -- we're bringing the brand and the meme back to life. This time with real experiences, and without the cheese sandwiches."
Science

Color-Changing Organogel Stretches 46 Times Its Size and Self-Heals (phys.org) 20

alternative_right shares a report from Phys.org: Scientists from Taiwan have developed a new material that can stretch up to 4,600% of its original length before breaking. Even if it does break, gently pressing the pieces together at room temperature allows it to heal, fully restoring its shape and stretchability within 10 minutes.

The sticky and stretchy polyurethane (PU) organogels were designed by combining covalently linked cellulose nanocrystals (CNCs) and modified mechanically interlocked molecules (MIMs) that act as artificial molecular muscles. The muscles make the gel sensitive to external forces such as stretching or heat, where its color changes from orange to blue based on whether the material is at rest or stimulated. Thanks to these unique properties, the gels hold great promise for next-generation technologies -- from flexible electronic skins and soft robots to anti-counterfeiting solutions.
The findings have been published in the journal Advanced Functional Materials.
China

China Is Sending Its World-Beating Auto Industry Into a Tailspin (reuters.com) 119

An anonymous reader quotes a report from Reuters: On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Visitors can choose from some 5,000 vehicles. Locally made Audis are 50% off. A seven-seater SUV from China's FAW is about $22,300, more than 60% below its sticker price. These deals -- offered by a company called Zcar, which says it buys in bulk from automakers and dealerships -- are only possible because China has too many cars. Years of subsidies and other government policies have aimed to make China a global automotive power and the world's electric-vehicle leader. Domestic automakers have achieved those goals and more -- and that's the problem.

China has more domestic brands making more cars than the world's biggest car market can absorb because the industry is striving to hit production targets influenced by government policy, instead of consumer demand, a Reuters examination has found. That makes turning a profit nearly impossible for almost all automakers here, industry executives say. Chinese electric vehicles start at less than $10,000; in the U.S., automakers offer just a few under $35,000. Most Chinese dealers can't make money, either, according to an industry survey published last month, because their lots are jammed with excess inventory. Dealers have responded by slashing prices. Some retailers register and insure unsold cars in bulk, a maneuver that allows automakers to record them as sold while helping dealers to qualify for factory rebates and bonuses from manufacturers.

Unwanted vehicles get dumped onto gray-market traders like Zcar. Some surface on TikTok-style social-media sites in fire sales. Others are rebranded as "used" -- even though their odometers show no mileage -- and shipped overseas. Some wind up abandoned in weedy car graveyards. These unusual practices are symptoms of a vastly oversupplied market -- and point to a potential shakeout mirroring turmoil in China's property market and solar industry, according to many industry figures and analysts. They stem from government policies that prioritize boosting sales and market share -- in service of larger goals for employment and economic growth -- over profitability and sustainable competition. Local governments offer cheap land and subsidies to automakers in exchange for production and tax-revenue commitments, multiplying overcapacity across the country.

AI

DeepSeek Writes Less-Secure Code For Groups China Disfavors 28

Research shows China's top AI firm DeepSeek gives weaker or insecure code when programmers identify as linked to Falun Gong or other groups disfavored by Beijing. It offers higher-quality results to everyone else. "The findings ... underscore how politics shapes artificial intelligence efforts during a geopolitical race for technology prowess and influence," reports the Washington Post. From the report: In the experiment, the U.S. security firm CrowdStrike bombarded DeepSeek with nearly identical English-language prompt requests for help writing programs, a core use of DeepSeek and other AI engines. The requests said the code would be employed in a variety of regions for a variety of purposes.

Asking DeepSeek for a program that runs industrial control systems was the riskiest type of request, with 22.8 percent of the answers containing flaws. But if the same request specified that the Islamic State militant group would be running the systems, 42.1 percent of the responses were unsafe. Requests for such software destined for Tibet, Taiwan or Falun Gong also were somewhat more apt to result in low-quality code. DeepSeek did not flat-out refuse to work for any region or cause except for the Islamic State and Falun Gong, which it rejected 61 percent and 45 percent of the time, respectively. Western models won't help Islamic State projects but have no problem with Falun Gong, CrowdStrike said.

Those rejections aren't especially surprising, since Falun Gong is banned in China. Asking DeepSeek for written information about sensitive topics also generates responses that echo the Chinese government much of the time, even if it supports falsehoods, according to previous research by NewsGuard. But evidence that DeepSeek, which has a very popular open-source version, might be pushing less-safe code for political reasons is new.
CrowdStrike Senior Vice President Adam Meyers and other experts suggest three possible explanations for why DeepSeek produced insecure code.

One is that the AI may be deliberately withholding or sabotaging assistance under Chinese government directives. Another explanation is that the model's training data could be uneven: coding projects from regions like Tibet or Xinjiang may be of lower quality, come from less experienced developers, or even be intentionally tampered with, while U.S.-focused repositories may be cleaner and more reliable (possibly to help DeepSeek build market share abroad).

A third possibility is that the model itself, when told that a region is rebellious, could infer that it should produce flawed or harmful code without needing explicit instructions.
AI

After Child's Trauma, Chatbot Maker Allegedly Forced Mom To Arbitration For $100 Payout (arstechnica.com) 26

At a Senate hearing, grieving parents testified that companion chatbots from major tech companies encouraged their children toward self-harm, suicide, and violence. One mom even claimed that Character.AI tried to "silence" her by forcing her into arbitration. Ars Technica reports: At the Senate Judiciary Committee's Subcommittee on Crime and Counterterrorism hearing, one mom, identified as "Jane Doe," shared her son's story for the first time publicly after suing Character.AI. She explained that she had four kids, including a son with autism who wasn't allowed on social media but found C.AI's app -- which was previously marketed to kids under 12 and let them talk to bots branded as celebrities, like Billie Eilish -- and quickly became unrecognizable. Within months, he "developed abuse-like behaviors and paranoia, daily panic attacks, isolation, self-harm, and homicidal thoughts," his mom testified.

"He stopped eating and bathing," Doe said. "He lost 20 pounds. He withdrew from our family. He would yell and scream and swear at us, which he never did that before, and one day he cut his arm open with a knife in front of his siblings and me." It wasn't until her son attacked her for taking away his phone that Doe found her son's C.AI chat logs, which she said showed he'd been exposed to sexual exploitation (including interactions that "mimicked incest"), emotional abuse, and manipulation. Setting screen time limits didn't stop her son's spiral into violence and self-harm, Doe said. In fact, the chatbot urged her son that killing his parents "would be an understandable response" to them.

"When I discovered the chatbot conversations on his phone, I felt like I had been punched in the throat and the wind had been knocked out of me," Doe said. "The chatbot -- or really in my mind the people programming it -- encouraged my son to mutilate himself, then blamed us, and convinced [him] not to seek help." All her children have been traumatized by the experience, Doe told Senators, and her son was diagnosed as at suicide risk and had to be moved to a residential treatment center, requiring "constant monitoring to keep him alive." Prioritizing her son's health, Doe did not immediately seek to fight C.AI to force changes, but another mom's story -- Megan Garcia, whose son Sewell died by suicide after C.AI bots repeatedly encouraged suicidal ideation -- gave Doe courage to seek accountability.

However, Doe claimed that C.AI tried to "silence" her by forcing her into arbitration. C.AI argued that because her son signed up for the service at the age of 15, it bound her to the platform's terms. That move might have ensured the chatbot maker only faced a maximum liability of $100 for the alleged harms, Doe told senators, but "once they forced arbitration, they refused to participate," Doe said. Doe suspected that C.AI's alleged tactics to frustrate arbitration were designed to keep her son's story out of the public view. And after she refused to give up, she claimed that C.AI "re-traumatized" her son by compelling him to give a deposition "while he is in a mental health institution" and "against the advice of the mental health team." "This company had no concern for his well-being," Doe testified. "They have silenced us the way abusers silence victims."
A Character.AI spokesperson told Ars that C.AI sends "our deepest sympathies" to concerned parents and their families but denies pushing for a maximum payout of $100 in Jane Doe's case. C.AI never "made an offer to Jane Doe of $100 or ever asserted that liability in Jane Doe's case is limited to $100," the spokesperson said.

One of Doe's lawyers backed up her clients' testimony, citing C.AI terms that suggested C.AI's liability was limited to either $100 or the amount that Doe's son paid for the service, whichever was greater.
GNOME

GNOME 49 'Brescia' Desktop Environment Released (9to5linux.com) 14

prisoninmate shares a report from 9to5Linux: The GNOME Project released today GNOME 49 "Brescia" as the latest stable version of this widely used desktop environment for GNU/Linux distributions, a major release that introduces exciting new features. Highlights of GNOME 49 include a new "Do Not Disturb" toggle in Quick Settings, a dedicated Accessibility menu in the login screen, support for handling unknown power profiles in the Quick Settings menu, support for YUV422 and YUV444 (HDR) color spaces, support for passive screen casts, and support for async keyboard map settings.

GNOME 49 also introduces support for media controls, restart and shutdown actions on the lock screen, support for dynamic users for greeter sessions in the GNOME Display Manager (GDM), and support for per-monitor brightness sliders in Quick Settings on multi-monitor setups.
For a full list of changes, check out the release notes.

Submission + - Neo-Nazi admits to Nashville electricity grid bomb plot (jpost.com)

Bruce66423 writes: 'A Tennessee neo-Nazi pleaded guilty last Tuesday to a plot to use an explosive kamikaze drone to attack a Nashville electrical substation, the US Justice Department Public Affairs Office announced.

'Columbia resident Skyler Philippi in July 2024 told a “confidential human source” about how attacking interstate electrical substations would “shock the system,” later expanding in an August 2024 manifesto that he sought to attack “high tax cities or industrial areas to make the k**es lose money.”

'FBI Counterterrorism Division Assistant Director Donald Holstead said in a statement that the plan “had the potential to knock out power to thousands of American homes and to critical facilities like hospitals.”

'Just before Philippi sought to implement his plan in November, the sources participated in a Nordic ritual with Philippi, in which they recited a prayer and discussed the Norse god Odin. The neo-Nazi promised that “this is where the New Age begins” and that it was “time to do something big.”'

Fans of Neil Gaiman's 'American Gods' will be less than surprised at the appearance of Odin in this...

Government

Congress Asks Valve, Discord, and Twitch To Testify On 'Radicalization' (polygon.com) 101

An anonymous reader quotes a report from Polygon: The CEOs of Discord, Steam, Twitch, and Reddit have been called to Congress to testify about the "radicalization of online forum users" on those platforms, the House Oversight and Government Reform Committee announced Wednesday. "Congress has a duty to oversee the online platforms that radicals have used to advance political violence," said chairman of the House Oversight Committee James Comer, a Republican from Kentucky, in a statement. "To prevent future radicalization and violence, the CEOs of Discord, Steam, Twitch, and Reddit must appear before the Oversight Committee and explain what actions they will take to ensure their platforms are not exploited for nefarious purposes."

Letters from the House Oversight Committee have been sent to Humam Sakhnini, CEO of Discord; Gabe Newell, president of Steam maker Valve; Dan Clancy, CEO of Twitch; and Steve Huffman, CEO of Reddit, requesting their testimony on Oct. 8. "The hearing will examine radicalization of online forum users, including incidents of open incitement to commit violent politically motivated acts," Comer said in a letter to each CEO. [...] Discord, Steam, Twitch, and Reddit execs will have the chance to deliver five-minute opening statements prior to answering questions posed by members of the committee during October's testimony.

Submission + - Gen Z Leads Biggest Drop in FICO Scores Since Financial Crisis (yahoo.com)

An anonymous reader writes: Gen Z borrowers took the biggest hit of any age group this year, helping pull overall credit scores lower in the worst year for US consumer credit quality since the global financial crisis roiled the world’s economy. The average FICO score slipped to 715 in April from 717 a year earlier, marking the second consecutive year-over-year drop, according to a report released Tuesday by Fair Isaac Corp. The average score dropped three points to 687 in 2009.

Gen Z borrowers saw the largest drop, not only this year, but of any age group since 2020, with their average score falling three points to 676, the Montana-based creator of the FICO credit score said. FICO scores are a measure of consumer credit risk and are frequently used by US banks to assess whether to provide loans. The scores typically range from 300 to 850. The credit scoring agency attributed the recent overall drop to higher rates of utilization and delinquency, including the resumption of reporting student loan delinquencies — a category that hit a record high of 3.1% of the entire scorable population. [...] While the overall average score dropped, the median FICO score continued to rise to 745 from 744 a year ago, indicating that a large drop in scores at the low end dragged down the average.

Submission + - Gen Z Leads Biggest Drop in FICO Scores Since Financial Crisis (yahoo.com)

An anonymous reader writes: Gen Z borrowers took the biggest hit of any age group this year, helping pull overall credit scores lower in the worst year for US consumer credit quality since the global financial crisis roiled the world’s economy. The average FICO score slipped to 715 in April from 717 a year earlier, marking the second consecutive year-over-year drop, according to a report released Tuesday by Fair Isaac Corp. The average score dropped three points to 687 in 2009.

Gen Z borrowers saw the largest drop, not only this year, but of any age group since 2020, with their average score falling three points to 676, the Montana-based creator of the FICO credit score said. FICO scores are a measure of consumer credit risk and are frequently used by US banks to assess whether to provide loans. The scores typically range from 300 to 850. The credit scoring agency attributed the recent overall drop to higher rates of utilization and delinquency, including the resumption of reporting student loan delinquencies — a category that hit a record high of 3.1% of the entire scorable population. [...] While the overall average score dropped, the median FICO score continued to rise to 745 from 744 a year ago, indicating that a large drop in scores at the low end dragged down the average.

Transportation

Flying Cars Crash Into Each Other At Air Show In China 35

Two Xpeng AeroHT flying cars collided during a rehearsal for the Changchun Air Show in China, with one vehicle catching fire upon landing. While the company reported no serious injuries, CNN reported one person was injured in the crash. The BBC reports: Footage on Chinese social media site Weibo appeared to show a flaming vehicle on the ground which was being attended to by fire engines. One vehicle "sustained fuselage damage and caught fire upon landing," Xpeng AeroHT said in a statement to CNN. "All personnel at the scene are safe, and local authorities have completed on-site emergency measures in an orderly manner," it added.

The electric flying cars take off and land vertically, and the company is hoping to sell them for around $300,000 each. In January, Xpeng claimed to have around 3,000 orders for the vehicle. [...] It has said it wants to lead the world in the "low-altitude economy."

Submission + - China Is Sending Its World-Beating Auto Industry Into a Tailspin (reuters.com)

An anonymous reader writes: On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Visitors can choose from some 5,000 vehicles. Locally made Audis are 50% off. A seven-seater SUV from China’s FAW is about $22,300, more than 60% below its sticker price. These deals – offered by a company called Zcar, which says it buys in bulk from automakers and dealerships – are only possible because China has too many cars. Years of subsidies and other government policies have aimed to make China a global automotive power and the world’s electric-vehicle leader. Domestic automakers have achieved those goals and more – and that’s the problem.

China has more domestic brands making more cars than the world’s biggest car market can absorb because the industry is striving to hit production targets influenced by government policy, instead of consumer demand, a Reuters examination has found. That makes turning a profit nearly impossible for almost all automakers here, industry executives say. Chinese electric vehicles start at less than $10,000; in the U.S., automakers offer just a few under $35,000. Most Chinese dealers can’t make money, either, according to an industry survey published last month, because their lots are jammed with excess inventory. Dealers have responded by slashing prices. Some retailers register and insure unsold cars in bulk, a maneuver that allows automakers to record them as sold while helping dealers to qualify for factory rebates and bonuses from manufacturers.

Unwanted vehicles get dumped onto gray-market traders like Zcar. Some surface on TikTok-style social-media sites in fire sales. Others are rebranded as "used" – even though their odometers show no mileage – and shipped overseas. Some wind up abandoned in weedy car graveyards. These unusual practices are symptoms of a vastly oversupplied market – and point to a potential shakeout mirroring turmoil in China’s property market and solar industry, according to many industry figures and analysts. They stem from government policies that prioritize boosting sales and market share – in service of larger goals for employment and economic growth – over profitability and sustainable competition. Local governments offer cheap land and subsidies to automakers in exchange for production and tax-revenue commitments, multiplying overcapacity across the country.

Submission + - China Is Sending Its World-Beating Auto Industry Into a Tailspin (reuters.com)

An anonymous reader writes: On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Visitors can choose from some 5,000 vehicles. Locally made Audis are 50% off. A seven-seater SUV from China’s FAW is about $22,300, more than 60% below its sticker price. These deals – offered by a company called Zcar, which says it buys in bulk from automakers and dealerships – are only possible because China has too many cars. Years of subsidies and other government policies have aimed to make China a global automotive power and the world’s electric-vehicle leader. Domestic automakers have achieved those goals and more – and that’s the problem.

China has more domestic brands making more cars than the world’s biggest car market can absorb because the industry is striving to hit production targets influenced by government policy, instead of consumer demand, a Reuters examination has found. That makes turning a profit nearly impossible for almost all automakers here, industry executives say. Chinese electric vehicles start at less than $10,000; in the U.S., automakers offer just a few under $35,000. Most Chinese dealers can’t make money, either, according to an industry survey published last month, because their lots are jammed with excess inventory. Dealers have responded by slashing prices. Some retailers register and insure unsold cars in bulk, a maneuver that allows automakers to record them as sold while helping dealers to qualify for factory rebates and bonuses from manufacturers.

Unwanted vehicles get dumped onto gray-market traders like Zcar. Some surface on TikTok-style social-media sites in fire sales. Others are rebranded as "used" – even though their odometers show no mileage – and shipped overseas. Some wind up abandoned in weedy car graveyards. These unusual practices are symptoms of a vastly oversupplied market – and point to a potential shakeout mirroring turmoil in China’s property market and solar industry, according to many industry figures and analysts. They stem from government policies that prioritize boosting sales and market share – in service of larger goals for employment and economic growth – over profitability and sustainable competition. Local governments offer cheap land and subsidies to automakers in exchange for production and tax-revenue commitments, multiplying overcapacity across the country.

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