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Category Archives: #business news

Most Chipotle restaurants hacked with credit card stealing malware

The company first acknowledged the breach on April 25. But a blog post on Friday revealed the kind of malware used in the attack and the restaurants that were affected.

The list of attacked locations is extensive and includes many major U.S. cities. When CNNMoney asked the company Sunday about the scale of the attack, spokesman Chris Arnold said that “most, but not all restaurants may have been involved.”

Chipotle (CMG) said in its blog post that it worked with law enforcement officials and cybersecurity firms on an investigation.

The breaches happened between March 24 and April 18. The malware worked by infecting cash registers and capturing information stored on the magnetic strip on credit cards, called “track data.” Chipotle said track data sometimes includes the cardholder’s name, card number, expiration date and internal verification code.

The company said there is “no indication” that other personal information was stolen.

“During the investigation we removed the malware, and we continue to work with cyber security firms to evaluate ways to enhance our security measures,” the blog post reads.

A list of the restaurants and times they were affected can be found on Chipotle’s website.

The company recommended that customers scan their credit card statements for potentially fraudulent purchases. It also said victims should contact the Federal Trade Commission, the attorney general in their home states or their local police department.

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Uber and Lyft return to Austin after Texas law kills the city’s fingerprint rule

Ride-hailing giants Uber and Lyft, which left Texas’ tech-savvy capital city a year ago over local fingerprint requirements for drivers, have returned after state lawmakers intervened.

Both companies began rolling on Austin’s streets again Monday, when Gov. Greg Abbott signed into law a bill that puts the state — not local governments — in charge of regulating the ride-hailing industry.

Local leaders in Austin, the conservative state’s most liberal city, argued unsuccessfully that its tech-driven economy was uniquely positioned to launch capable alternatives that could fill the gap.

“Austin is an incubator for technology and entrepreneurship, and we are excited to be back in the mix,” Uber spokesman Travis Considine said Thursday. “ We know that we have a lot of work to do in the city, but we couldn’t be more excited for the road ahead.”

Uber and Lyft — which are both based in San Francisco — fled Austin after losing a bruising and expensive fight to replace an Austin ordinance that required fingerprint-based background checks of drivers, a variety of data reporting and other requirements.

Advocates for fingerprinting say it’s the best way to weed out drivers with criminal records. Uber and Lyft have argued their background checks suffice and that fingerprint databases can be out of date. Fingerprinting can also slow down the process of adding new drivers.  Read More

Lockheed Martin to deliver world record-setting 60kw laser to U.S. Army

Lockheed Martin has completed the design, development and demonstration of a 60 kW-class beam combined fiber laser for the U.S. Army.  In testing earlier this month, the Lockheed Martin laser produced a single beam of 58 kW, representing a world record for a laser of this type. The Lockheed Martin team met all contractual deliverables for the and is preparing to ship it to the US Army Space and Missile Defense Command/Army Forces Strategic Command in Huntsville, Ala.

“Delivery of this laser represents an important milestone along the path to fielding a practical laser weapon system,” said Paula Hartley, vice president, Owego, New York general manager and Advanced Product Solutions within Lockheed Martin’s Cyber, Ships & Advanced Technologies line of business. “This milestone could not have been achieved without close partnership between the U.S. Army and Lockheed Martin; we are pleased to be able to deliver this system for their further integration and evaluation.”

Lockheed martin to deliver world record-setting 60kw laser to U.S. army

Lockheed Martin’s laser is a beam combined fiber laser, meaning it brings together individual lasers, generated through fiber optics, to generate a single, intense . This allows for a scalable laser system that can be made more powerful by adding more fiber laser subunits. The laser is based on a design developed under the Department of Defense’s Robust Electric Laser Initiative Program, and further developed through investments by Lockheed Martin and the U.S. Army into a 60kW-class system.

“The inherent scalability of this beam combined laser system has allowed us to build the first 60kW-class fiber laser for the U.S. Army,” said Robert Afzal, Ph.D., senior fellow for Laser and Sensor Systems. “We have shown that a powerful directed energy laser is now sufficiently light-weight, low volume and reliable enough to be deployed on tactical vehicles for defensive applications on land, at sea and in the air.”  Read More

 

Russian bank said it was hacked to frame connection with Trump Organization

(CNN) — The Russian bank that had an “odd” internet link to the Trump Organization during the presidential campaign is now claiming that U.S.-based hackers have recently launched cyberattacks to try to frame the bank.

Cybersecurity experts say this hack is a common type of prank. And it’s not directly related to activity discovered last year between the computer servers of Alfa Bank and the Trump Organization.

Alfa Bank believes the hack is meant to make it seem as if the Trump Organization is currently communicating with it.

In a statement, Alfa Bank said “the cyberattacks are an attempt by unknown parties to manufacture the illusion of contact” between Alfa Bank and the Trump Organization.

Last week, CNN revealed that the FBI’s counterintelligence team is still investigating whether there was a computer server connection between the Trump Organization and Alfa Bank during the U.S. election, according to sources close to the investigation.

The CNN report showed that the corporations offered only possible explanations — but no proof — as to why Alfa Bank was repeatedly looking up the contact information for a computer server used by the Trump Organization.

But on Friday, Alfa Bank claimed hackers are now trying to perpetuate that suspicion by tricking the Trump Organization into sending communication toward the bank.  Read More

 

Everything you need to know about the Google lawsuit that could derail Uber’s future

The first self-driving car prototypes are already navigating the roads in a few cities. But the real action is about to take place in the courtroom.

Google and Uber, the two giants at the forefront of developing the technology, are vying to own the emerging market and to suck up the profits.

The stakes are high and the fight is already getting personal, with Google accusing one of its star engineers of stealing some of its crown jewels.

google waymo

Last month, Waymo, the self-driving company owned by Google’s parent company Alphabet, sued Uber, claiming that one of its employees stole vital technology shortly before starting his own self-driving company (which Uber later acquired).

Autonomous cars have the potential to upend massive industries ranging from transportation to auto manufacturing. For Google and Uber, the opportunity and the threat posed by a world of self-driving vehicles is huge.

Google has been developing self-driving technology for the better part of a decade, and plans to license that technology to other car companies through Waymo. There’s also a chance Waymo will eventually develop its own ride-hailing service powered by self-driving cars to compete directly with Uber.  Read More

Brazil’s JBS and BRF Launch PR Campaign After Rotten Meat Raids

RIO DE JANEIRO (Reuters) – Meat companies JBS SA and BRF SA took out full-page advertisements in Brazilian newspapers on Saturday in efforts to burnish their image a day after police conducted a series of raids investigating bribes at meatpacking facilities.

Police said the raids, which threaten an industry with $12 billion in annual exports, were prompted by evidence that some meatpackers had paid inspectors and politicians to overlook the processing of rotten meat and exports with fraudulent documentation and even traces of salmonella.

Facing a crisis that even Brazil’s government said threatens its reputation as one of the world’s biggest exporters of meat products, JBS and BRF launched a public relations offensive to defend the integrity of their practices.

“Quality is the foremost priority of JBS and its brands,” read an advertisement by JBS, the world’s largest meat producer, in publications that included the major dailies of São Paulo and Rio de Janeiro, plus the weekly newsmagazine Veja.  Read More

Judge issues warrant for specific Google search data from everyone in Edina, Minnesota

Good morning Edina, Minnesota! You fine folks are the lucky winners of a warrant seeking your Google search data. A Minnesota judge has signed off on a warrant seeking specific Google search data from pretty much everyone in the city of Edina. Don’t worry though, there are very specific search terms that the police would like to investigate. The series of events that birthed such a warrant started when the Spire Credit Union was contacted by a man seeking to wire transfer $28,500USD from a line of credit to another bank. Of course, the bank needed to verify the man’s identity so he faxed in a copy of his passport which turns out, was fake.

The Edina Police Department figured out that while searching Google Images for the victim’s name, they found the photo used on the fake passport, and investigators couldn’t find it on Yahoo or Bing. So, they theorized the suspect must have searched Google for the victim’s name while making the fake passport.

This has led the Edina Police to draft the warrant which the judge has signed and approved. The warrant is seeking the names, email addresses, account information, and IP addresses of anyone who searched for the victim’s name in any variety of ways. The victim’s first name is Douglas with the last name redacted in the scanned warrant available on Tony Webster’s blog and Webster poses an interesting question in his post. Read More

How Fed hike will affect mortgages, car loans, credit cards

How Fed hike will affect mortgages, car loans, credit cards

WASHINGTON — Are mortgage rates going up? How about car loans? Credit cards?

How about those nearly invisible rates on bank CDs — any chance of getting a few dollars more?

With the Federal Reserve having raised its benchmark interest rate Wednesday and signaled the likelihood of additional rate hikes later this year, consumers and businesses will feel it — if not immediately, then over time.

The Fed’s thinking is that the economy is a lot stronger now than it was in the first few years after the Great Recession ended in 2009, when ultra-low rates were needed to sustain growth. With the job market in particular looking robust, the economy is seen as sturdy enough to handle modestly higher loan rates in the coming months and perhaps years.

“We are in a rising interest rate environment,” noted Nariman Behravesh, chief economist at IHS Markit.

Here are some question and answers on what this could mean for consumers, businesses, investors and the economy:

Q. I’m thinking about buying a house. Are mortgage rates going to march steadily higher?

A. Hard to say. Mortgage rates don’t usually rise in tandem with the Fed’s increases. Sometimes they even move in the opposite direction. Long-term mortgages tend to track the rate on the 10-year Treasury, which, in turn, is influenced by a variety of factors. These include investors’ expectations for future inflation and global demand for U.S. Treasurys.  Read More

Dow and Nasdaq reach record highs, but energy pressures S&P 500

U.S. equities rose on Tuesday, but traded off session highs, as energy weighed while investors focused on a slew of corporate earnings reports.

The Dow Jones industrial average briefly rose more than 100 points, hitting a new record high, before holding about 40 points higher with Boeing contributing the most gains. The S&P 500 chopped around the flatline, with energy falling more than 1 percent.

Traders work on the main trading floor of the New York Stock Exchange as the Dow Jones industrial average passes the 20,000 mark shortly after the opening of the trading session on Jan. 25, 2017.

The S&P 500 chopped around the flatline, with energy falling more than 1 percent. U.S. crude futures for March delivery fell 2 percent to $52.01 per barrel amid concerns of higher U.S. shale production.

“Today, as opposed to two years ago, we’re looking at a commodity that’s not in short supply. That makes it a lot less of a long-term investment,” said Maris Ogg, president at Tower Bridge Advisors. “This is really like a growth company that fesses up that it can’t grow anymore.”  Read More

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