Transportation

Challenging Tesla, Ferrari Will Build An Electric Sportscar -- and an SUV (theverge.com) 78

Long-time Slashdot reader Kant shared an article from The Verge: Ferrari will build a battery-electric supercar in a bid to challenge Tesla for a piece of the high-end, eco-conscious luxury market. CEO Sergio Marchionne, who also heads Fiat Chrysler, said that the Italian racecar company would also make a Ferrari SUV -- after previously dismissing the idea as ridiculous. Speaking at the North American International Auto Show in Detroit, Marchionne didn't offer any specifics on the electric Ferrari, but indicated the company would release it before the Tesla Roadster hits the road in 2020.

"If there is an electric supercar to be built, then Ferrari will be the first," Marchionne said, according to Bloomberg. "People are amazed at what Tesla did with a supercar: I'm not trying to minimize what Elon did but I think it's doable by all of us."

BMW and Porsche also have plans to introduce all-electric supercars, and Marchionne says "I don't know of a [business] that is making money selling electric vehicles unless you are selling them at the very, very high end of the spectrum."

His remarks were also "a significant departure" from comments made in 2016 about the Ferrari SUV: 'You have to shoot me first.'"
Security

Security Breaches Don't Affect Stock Price, Study Suggests (schneier.com) 28

Computer security professional Bruce Schneier highlights the key findings of a study that suggests security breaches don't affect stock price. The study has been published in the Journal of Information Privacy and Security. From the report: -While the difference in stock price between the sampled breached companies and their peers was negative (1.13%) in the first 3 days following announcement of a breach, by the 14th day the return difference had rebounded to + 0.05%, and on average remained positive through the period assessed.

-For the differences in the breached companies' betas and the beta of their peer sets, the differences in the means of 8 months pre-breach versus post-breach was not meaningful at 90, 180, and 360 day post-breach periods.

-For the differences in the breached companies' beta correlations against the peer indices pre- and post-breach, the difference in the means of the rolling 60 day correlation 8 months pre- breach versus post-breach was not meaningful at 90, 180, and 360 day post-breach periods.

-In regression analysis, use of the number of accessed records, date, data sensitivity, and malicious versus accidental leak as variables failed to yield an R2 greater than 16.15% for response variables of 3, 14, 60, and 90 day return differential, excess beta differential, and rolling beta correlation differential, indicating that the financial impact on breached companies was highly idiosyncratic.

-Based on returns, the most impacted industries at the 3 day post-breach date were U.S. Financial Services, Transportation, and Global Telecom. At the 90 day post-breach date, the three most impacted industries were U.S. Financial Services, U.S. Healthcare, and Global Telecom.

Security

Top Bug Hunters Make 2.7 Times More Money Than an Average Software Engineer (bleepingcomputer.com) 66

An anonymous reader shares a report: A survey of 1,700 bug bounty hunters registered on the HackerOne platform reveals that top white-hat hackers make on average 2.7 times more money than the average salary of a software engineer in the same country. The reported numbers are different for each country and may depend on a bug bunter's ability to find bugs, but the survey's results highlight the rising popularity of bug hunting as a sustainable profession, especially in less developed countries, where it can help talented programmers live a financially care-free life. According to HackerOne's report, it pays to be a vulnerability researcher in India, where top bug hunters can make 16 times more compared to the average salary of a software engineer. Other countries where bug hunting can assure someone a comfortable living are Argentina (x15.6), Egypt (x8.1), Hong Kong (x7.6), the Philippines (x5.4), and Latvia (x5.2).
Businesses

BMW's Apple CarPlay Annual Fee is Next-level Gouging (cnet.com) 216

BMW announced this week that the company plans to shift Apple CarPlay infotainment support from a one-time fee to a subscription service. Tim Stevens, writing about the implications of the move for CNET: While GM and other manufacturers happily include Apple's CarPlay service for free even on their most attainable models, BMW and plenty of others have levied upgrade fees to enable CarPlay, or bundled the service inside pricey packages of widgets you may or may not want. That, sadly, is par for this margin-rich golf course, but when we learned this week that BMW would change from a single, up-front fee to an annual fee, in my mind that changed everything. Instead of a one-time, $300 fee, starting on 2019 models BMW will charge $80 annually for the privilege of accessing Apple's otherwise totally free CarPlay service. You do get the first year free, much like your friendly neighborhood dealer of another sort, but after that it's pay up or have your Lightning cable metaphorically snipped.

On the surface this is pretty offensive, and it seemed like something must be driving this. The official word from BMW is that this is a change that will save many (perhaps most) BMW owners money. Indeed, the vehicle segments where BMW plays are notorious for short-term leases, and those owning the car for only a few years will save money over that one-time $300. But still, the notion of paying annually for something that's free rubbed me the wrong way. And, based on the feedback we saw from the article, it rubbed a lot of you the wrong way, too.

Businesses

China's Smartphone Maker OnePlus Says Up To 40,000 Customers Were Affected by Credit Card Security Breach (theverge.com) 8

sqorbit writes: OnePlus, a manufacturer of an inexpensive smartphone meant to compete with the iPhone, states that data from 40,000 customers credit card information was stolen while purchasing phones from its website. Even as the company has just confirmed the breach, it says the the script stealing information had been running since November. It is not clear whether this was a remote attack or the attack happened from within the company. Credit purchases on the OnePlus site have been suspended and will remain that way while an investigation takes place. [...] Earlier this week, OnePlus had temporarily shut down credit card payments on its website following reports that customers' payment details were stolen after they bought goods through its online store. The company says it's disabling credit card payments "as a precaution," but will still be accepting purchases through PayPal. The investigation began after a poll posted by users on OnePlus' forums found that many customers had experienced the same problem.
Businesses

Instant Messaging Company Snap Threatens Jail Time for Leakers (cheddar.com) 92

An anonymous reader shares a report: Snap has a simple message to its employees: leak information and you could be sued or even jailed. The chief lawyer and general counsel of Snapchat's parent company, Michael O'Sullivan, sent a threatening memo to all employees last week just before The Daily Beast published an explosive story with confidential user metrics about how certain Snapchat features are used. "We have a zero-tolerance policy for those who leak Snap Inc. confidential information," O'Sullivan said in the memo, a copy of which was obtained by Cheddar. "This applies to outright leaks and any informal 'off the record' conversations with reporters, as well as any confidential information you let slip to people who are not authorized to know that information."
Businesses

Amazon is Raising the Price of Prime Monthly Memberships by Nearly 20 Percent (recode.net) 158

Amazon is boosting the price of its monthly Prime membership fees for new and existing members by nearly 20%. The online retailer said Friday its annual membership fee of $99 will not change. From a report: The increase comes less than two years after Amazon first introduced the monthly payment option as a way to attract new Prime members who either couldn't afford the annual membership of $99, which is not increasing, or didn't want to commit to using the service continuously. Prime is the engine at the center of the Amazon commerce machine -- Prime members buy from Amazon more frequently than non-Prime members and also spend more, hence why Amazon introduced the monthly option to lure new members. So if the company is raising the fee, you can bet that it discovered the current $10.99 was just not sustainable.
Transportation

Tesla Is Last In the Driverless Vehicle Race, Report Says (usnews.com) 157

Navigant Research has compiled a new report on 19 companies working on automated driving systems, and surprisingly, Tesla came in last place. U.S. News & World Report: Navigant ranked the 19 major companies developing AV technology based on 10 criteria, including vision, market strategy, partnerships, production strategy, technology, product quality and staying power. According to the report, General Motors Co. and Waymo, the auto unit of Alphabet, are the top two AV investment opportunities in the market today. Tesla and Apple are the two biggest laggards in the AV race, according to Navigant's rankings.

Investors are acutely aware of Tesla's production and distribution disadvantages compared to legacy automakers like GM, but Navigant is also highly critical of Tesla's technology. "The autopilot system on current products has stagnated and, in many respects, regressed since it was first launched in late 2015," Navigant says in the report, according to Ars Technica. "More than one year after launching V2, Autopilot still lacks some of the functionality of the original, and there are many anecdotal reports from owners of unpredictable behavior."

Bitcoin

Bitcoin's Fluctuations Are Too Much For Even Ransomware Cybercriminals (theguardian.com) 81

Bitcoin's price swings are so huge that even ransomware developers are dialling back their reliance on the currency, according to researchers at cybersecurity firm Proofpoint. From a report: Over the last quarter of 2017, researchers saw a fall of 73% in payment demands denominated in bitcoin. When demanding money to unlock a victim's data, cybercriminals are now more likely to simply ask for a figure in US dollars, or a local currency, than specify a sum of bitcoin. Just like conventional salespeople, ransomware developers pay careful attention to the prices they charge. Some criminals offer discounts depending on the region the victim is in, offering cheaper unlocking to residents of developing nations, while others use an escalating price to encourage users to pay quickly and without overthinking things. But a rapidly oscillating bitcoin price plays havoc with those goals, Proofpoint says.
Businesses

Apple Gives Employees $2,500 Bonuses After New Tax Law (bloomberg.com) 275

Apple told employees that it's issuing a bonus of $2,500 of restricted stock units, following the introduction of the new U.S. tax law. "The iPhone maker will begin issuing grants to most employees worldwide in the coming months," reports Bloomberg. Apple also announced today that it would bring back most of its cash from overseas and spend $30 billion in the U.S. over the next five years. From the report: Apple confirmed the bonuses in response to a Bloomberg inquiry Wednesday. The Cupertino, California-based company joins a growing list of American businesses that have celebrated the introduction of corporate-friendly tax law with one-time bonuses for staff. AT&T, Comcast, JetBlue, and Wal-Mart also said they were giving bonuses.
Crime

Facebook Is a 'Living, Breathing Crime Scene,' Says Former Tech Insider (nbcnews.com) 143

An anonymous reader quotes a report from NBC News: With more than 2 billion users, Facebook's reach now rivals that of Christianity and exceeds that of Islam. However, the network's laser focus on profits and user growth has come at the expense of its users, according to one former Facebook manager who is now speaking out against the social platform. "One of the things that I saw consistently as part of my job was the company just continuously prioritized user growth and making money over protecting users," the ex-manager, Sandy Parakilas, who worked at Facebook for 16 months, starting in 2011, told NBC News. During his tenure at Facebook, Parakilas led third-party advertising, privacy and policy compliance on Facebook's app platform. "Facebook is a living, breathing crime scene for what happened in the 2016 election -- and only they have full access to what happened," said Tristan Harris, a former design ethicist at Google. His work centers on how technology can ethically steer the thoughts and actions of the masses on social media and he's been called "the closest thing Silicon Valley has to a conscience" by The Atlantic magazine.

In response to the comments, Facebook issued a statement saying it is a "vastly different company" from when it was founded. "We are taking many steps to protect and improve people's experience on the platform," the statement said. "In the past year, we've worked to destroy the business model for false news and reduce its spread, stop bad actors from meddling in elections, and bring a new level of transparency to advertising. Last week, we started prioritizing meaningful posts from friends and family in News Feed to help bring people closer together. We have more work to do and we're heads down on getting it done."

Google

Project Fi Creates Its Own Version of An Unlimited Plan (theverge.com) 60

Google's Project Fi mobile virtual network operator (MVNO) has launched a new feature called Bill Protection that will cap your $10 per GB data bill at $60 a month, while still allowing you to use as much data as you want, essentially creating its own version of an unlimited data plan. The Verge reports: Prior to today, Project Fi users were charged $10 per GB no matter how much data they used, which could become quite costly for heavy users. Bill Protection should help alleviate those worries for most users. Google says those who use up to 15GB of data in a month won't experience any throttling, but if they cross that threshold -- Google says less than 1 percent of its users pass that mark -- they will "experience slower data" with speeds going down to 256kbps. If you don't want to be throttled when you pass 15GB in a month, Google says you can pay the usual $10 per GB to opt out of the slower speeds. It also noted that Bill Protection for Project Fi users on group plans will kick in at different usage levels, depending on the size of your group.
Youtube

YouTube Toughens Advert Payment Rules (bbc.com) 142

YouTube is introducing tougher requirements for video publishers who want to make money from its platform. From a report: In addition, it has said staff will manually review all clips before they are added to a premium service that pairs big brand advertisers with popular content. The moves follow a series of advertiser boycotts and a controversial vlog that featured an apparent suicide victim. One expert said that the Google-owned service had been slow to react. "Google presents the impression of acting reactively rather than proactively," said Mark Mulligan, from the consultancy Midia Research.

[...] The first part of the new strategy involves a stricter requirement that publishers must fulfil before they can make money from their uploads. Clips will no longer have adverts attached unless the publisher meets two criteria -- that they have: at least 1,000 subscribers; and more than 4,000 hours of their content viewed by others within the past 12 months.

Businesses

Apple Says It Will 'Contribute' $350 Billion in the US Economy Over the Next 5 Years (cnbc.com) 164

Apple said on Wednesday it will invest $350 billion in the U.S. economy over the next five years, touting the creation of 20,000 new jobs and a new campus thanks, in part, to the prospect of tax reform. From a report: The company said it expects tax repatriation payments of about $38 billion, indicating that it will bring a portion of its $250 billion overseas cash back to the U.S. As of November, the company had $268.9 billion in cash, both domestically and overseas. The job creation will focus on direct employment, but also suppliers and its app business, which it had already planned to grow substantially. "We have a deep sense of responsibility to give back to our country and the people who help make our success possible," chief executive Tim Cook said in a statement.
Businesses

Turning Soybeans Into Diesel Fuel Is Costing Us Billions (npr.org) 262

This year, trucks and other heavy-duty motors in America will burn some 3 billion gallons of diesel fuel that was made from soybean oil. They're doing it, though, not because it's cheaper or better, but because they're required to, by law. From a report: The law is the Renewable Fuel Standard, or RFS. For some, especially Midwestern farmers, it's the key to creating clean energy from American soil and sun. For others -- like many economists -- it's a wasteful misuse of resources. And the most wasteful part of the RFS, according to some, is biodiesel. It's different from ethanol, a fuel that's made from corn and mixed into gasoline, also as required by the RFS. In fact, gasoline companies probably would use ethanol even if there were no law requiring it, because ethanol is a useful fuel additive -- at least up to a point. That's not true of biodiesel. "This is an easy one, economically. Biodiesel is very expensive, relative to petroleum diesel," says Scott Irwin, an economist at the University of Illinois, who follows biofuel markets closely. He calculates that the extra cost for biodiesel comes to about $1.80 per gallon right now, meaning that the biofuel law is costing Americans about $5.4 billion a year.
Bitcoin

Bitcoin Watchers Running Out of Explanations Blame Slump on Moon (bloomberg.com) 156

If regulatory concerns aren't enough to explain Bitcoin's 50 percent slump from its record high reached last month, how about blaming it on the moon? An anonymous reader writes: The Lunar New Year, which marks the first day of the year in the Chinese calendar, is being cited by some as contributing to Bitcoin's slump as Asian traders cash out their cryptocurrencies to travel and buy gifts for the holiday that starts Feb. 16 this year. The festivity is celebrated not just in China, but in other Asian countries including Singapore, Indonesia, Malaysia, Korea and Thailand. "The January drop is a recurring theme in cryptocurrencies as people celebrating the Chinese New Year, aka Lunar New Year, exchange their crypto for fiat currency," said Alexander Wallin, chief executive officer of trading social network SprinkleBit in New York. "The timing is about four to six weeks before the lunar year, when most people make their travel arrangements and start buying presents."
Businesses

'No One Wants Your Used Clothes Anymore' (bloomberg.com) 326

An anonymous reader shares a report: For decades, the donation bin has offered consumers in rich countries a guilt-free way to unload their old clothing. In a virtuous and profitable cycle, a global network of traders would collect these garments, grade them, and transport them around the world to be recycled, worn again, or turned into rags and stuffing. Now that cycle is breaking down. Fashion trends are accelerating, new clothes are becoming as cheap as used ones, and poor countries are turning their backs on the secondhand trade. Without significant changes in the way that clothes are made and marketed, this could add up to an environmental disaster in the making. [...] The tide of secondhand clothes keeps growing even as the markets to reuse them are disappearing. From an environmental standpoint, that's a big problem. Already, the textile industry accounts for more greenhouse-gas emissions than all international flights and maritime shipping combined; as recycling markets break down, its contribution could soar. The good news is that nobody has a bigger incentive to address this problem than the industry itself.
Businesses

Within Next Five Years Your Pizzas Will Probably Be Delivered by Autonomous Cars, Domino's Pizza CEO Says (thestreet.com) 208

In an interview with The Street, Domino's Pizza outgoing CEO Patrick Doyle said in three to five years at the earliest he expects driverless cars and voice orders to shift the way the world orders pizza. From the report: "We have been investing in natural voice for ordering for a few years. We rolled that out in our own apps before Amazon launched Alexa and Alphabet launched Google Home...[and] we are making investments...to understand how consumers will want to interact with autonomous vehicles and pizza delivery," Doyle said.
The Almighty Buck

Bitcoin Plunges Below $12,000 To Six-Week Low Over Crackdown Fears (cnbc.com) 174

Bitcoin plunged to a six-week low Tuesday after comments from South Korea's finance minister renewed worries about a crackdown in one of the largest markets for digital currency trading. In a radio program interview, South Korean Finance Minister Kim Dong-yeon said that "the shutdown of virtual currency exchanges is still one of the options" the government has. CNBC reports: Bitcoin dropped more than 17 percent to a low of $11,182.71 on Tuesday, falling below $12,000 for the first time since December 5, according to CoinDesk. CoinDesk's bitcoin price index tracks prices from cryptocurrency exchanges Bitstamp, Coinbase, itBit and Bitfinex. As of 12:13 p.m. ET, bitcoin was trading more than 13 percent lower at $11,759.73 a coin, according to CoinDesk. Trading in South Korean won accounted for about 4 percent of bitcoin trading volume, according to CryptoCompare. U.S. dollar-bitcoin trading had the largest share at 40 percent, the website showed. Other major digital currencies including ethereum and ripple also fell significantly. According to CoinMarketCap data, ethereum was trading at $1,051.83, down more than 20 percent in the last 24 hours, before lifting slightly to $1,117.72. Ripple fell almost 27 percent to $1.33 a token before recovering slightly to $1.36.
Businesses

The Human Cost of the Apple Supply Chain Machine (bloomberg.com) 173

Apple is still struggling to improve working conditions at its supply chain factories. China Labor Watch and Bloomberg reported on Tuesday that Catcher, a key supplier for iPhone and MacBook casings, makes workers endure harsh safety conditions and unfair work terms in a factory in Suqian. According to observers and discussions with workers, the machines are not only loud, but spray fluid and metallic particles that frequently hit workers' faces only some of which have access to safety goggles and gloves. From the report: Hundreds throng a workshop where the main door only opens about 12 inches. Off duty, they return to debris-strewn dorms bereft of showers or hot water. Many go without washing for days at a time, workers told Bloomberg. "My hands turned bloodless white after a day of work," said one of the workers, who makes a little over 4,000 yuan a month (just over $2 an hour) in her first job outside her home province of Henan. She turned to Catcher because her husband's home-decorating business was struggling. "I only tell good things to my family and keep the sufferings like this for myself." "I asked for the earplugs many times but they didn't have any. The loud noise of 'zah-zah' made my head ache and dizzy," one of those employees told Bloomberg.

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