Tuesday, February 20

US

UPS Drops Pressure on Wall Street After Disappointing Figures
Business, News, US

UPS Drops Pressure on Wall Street After Disappointing Figures

UPS was among the losers on the New York stock exchanges on Tuesday. The large American parcel delivery company booked less turnover and profit last quarter than experts had expected. CEO Carol Tomé said declining retail sales in the United States resulted in lower parcel volumes and continued weakness in Asia. However, UPS expects volume to remain under pressure due to macroeconomic conditions. The stock was down 7.5 percent. In addition to UPS, other large companies such as General Motors, McDonald's, PepsiCo, 3M and General Electric also released figures. Investors are also looking forward to the quarterly reports from software group Microsoft and Google parent company Alphabet, which will be announced after trading on Wall Street. The overall mood on Wall Street remained ...
Dell Falls on Wall Street After Major Round of Layoffs
Business, News, US

Dell Falls on Wall Street After Major Round of Layoffs

Dell Technologies was lowered on the New York stock exchanges on Monday. The American computer manufacturer is cutting about 6,650 jobs to cut costs. The company is struggling with a sharp decline in demand for PCs as consumers have become more cautious about spending due to high inflation. The job cuts amount to about 5 percent of Dell's global workforce. The stock lost 2.9 percent. The overall mood on Wall Street remained negative. On Friday, the better-than-expected US jobs report already caused share price pressure. In the largest economy in the world, many more jobs were added in January, causing unemployment to fall to the lowest level since May 1969. Interest rate fears flared up again as a result. However, the strong labour market gives the Federal Reserve more room to r...
Chinese Hackers Made Off With Millions of American Corona Benefits
China, News, Tech, US

Chinese Hackers Made Off With Millions of American Corona Benefits

The US security service confirms that Chinese hackers stole at least $20 million in US Covid benefits. However, NBC News rang the bell earlier this week and reported that a Chinese hacking team had managed to crack a US fund with corona benefits. The US Secret Service has since confirmed the report to the Reuters news agency without revealing additional details. According to the NBC News report, approved by the security service, those responsible for the theft are the Chinese hacker collective APT41, also known as Winnti. APT41, based in Chengdu, is a particularly active group of cybercriminals who, according to experts, are partly supported by the (Chinese) government to steal specific data but which also have clear financial motives. According to the US security service, this ...
The World’s Largest Active Volcano Mauna Loa Erupts in Hawaii
News, US

The World’s Largest Active Volcano Mauna Loa Erupts in Hawaii

After 40 years of dormancy, Hawaii's Mauna Loa volcano erupted again just before midnight local time on Sunday. This is according to the American Institute for Seismological Measurement (USGS). Currently, the eruption is confined to the crater Moku‘āweoweo, which lies at the top of the mountain. There is, therefore, no danger to residents. Mauna Loa is the highest active volcano in the world. In the past, eruptions from the volcano have shown that they can become very violent. The government is, therefore, on its guard and closely monitoring the situation. Wind gusts can carry gas and volcanic ash into inhabited zones. On Twitter, the USGS released a photo taken by a webcam on the top of the volcano. You can see how lava spreads over the crater mouth. Authorities say several ...
NATO Boss Stoltenberg Warns of Difficult Months: Russians have Shown Extreme Brutality
News, Russia, Ukraine, US

NATO Boss Stoltenberg Warns of Difficult Months: Russians have Shown Extreme Brutality

NATO Secretary General Jens Stoltenberg warns that the coming months will be difficult for Ukraine. "Putin's goal is to keep Ukraine cold and dark this winter," he said during a press conference in The Hague on Monday after speaking with the Dutch government. The NATO chief described Russia's withdrawal from Kherson as a testament to "the incredible bravery of the Ukrainian armed forces". "But it also demonstrations the importance of our continued provision for Ukraine," Stoltenberg said. He warned me not to underestimate Russia. "The Russian armed forces still have great capabilities and many troops. And Russia has shown its willingness to bear great losses. But, unfortunately, they have also shown extreme brutality." Kherson was the first major city and the only regional ca...
Facebook Parent Company Cuts One in Eight Jobs Worldwide
Business, News, Tech, US

Facebook Parent Company Cuts One in Eight Jobs Worldwide

Meta Platforms is cutting more than 11,000 jobs worldwide, the parent company of Facebook, Instagram, and WhatsApp has announced. That amounts to 13 percent of all jobs at the company. It is the first time there has been a major layoff in Meta's existence. The company is suffering from advertisers who spend less money on online advertising and higher costs due to increased interest rates and high inflation. In addition to the layoffs, Meta has also announced a job freeze until the end of the first quarter of next year. Meta Platforms also has an office in Amsterdam. It is not immediately clear how many jobs will be cut here.
Apple Confirms: the Next iPhone will have a USB-C Connection
News, Tech, US

Apple Confirms: the Next iPhone will have a USB-C Connection

Apple's iPhone gets a USB-C connector to comply with European Union law. Marketing boss Greg Joswiak of the tech company said so during a conference with The Wall Street Journal. However, when Apple got rid of its Lightning cables, Joswiak didn't say. Greg Joswiak also emphasized that Apple disagrees with the legislation in the EU that prescribes USB-C as a standard. He recalled, for example, that the EU has been working on similar legislation for more than a decade and that once the goal was to introduce micro-USB as a standard. If that had happened (the technically more advanced nvrd.) Lightning and USB-C would never have been developed, according to Joswiak. Apple has long opposed the European obligation with just that argument. According to the company, innovation is hind...
Criticism of American Billion-Dollar Investment Energy Company RWE
Business, Europe, Germany, News, US

Criticism of American Billion-Dollar Investment Energy Company RWE

The German energy group RWE will invest billions in sustainable energy projects in the United States. It is one of the largest green deals ever in the US. But there is also criticism. An activist investor who has bought into RWE would rather see the energy company invest in the domestic energy sector. With the deal worth approximately 6.8 billion dollars (almost 7 billion euros), RWE is doubling its energy portfolio in the US to more than 7 gigawatts. The transaction is made partly by the investment fund of Qatar, which will become a major shareholder of RWE with an investment of more than 2 billion euros. Qatar and Germany signed an agreement in May to intensify their energy cooperation. But Benedikt Kormaier of investor Enkraft Capital, which holds about a million shares in...
US IRS Leaks Data on 120,000 Citizens
News, Tech, US

US IRS Leaks Data on 120,000 Citizens

The US tax authorities accidentally put sensitive data of more than a hundred thousand citizens online, the agency itself admits. The Internal Revenue Service, or IRS, committed the blunder with citizens who filled out a certain form (990-T) to declare additional income, often related to nonprofits. Those forms are normally confidential, except for nonprofit organizations. However, the form must be made public for the latter group for three years. That's where it went wrong because the IRS had inadvertently put the forms for both nonprofits and ordinary citizens online. It does qualify, however, that this mainly concerns XML data, which is mainly read automatically. The error was discovered on August 26 and immediately corrected since the data was online is unknown. According...
Google Bans Trump’s Social Media Platform
News, Tech, US

Google Bans Trump’s Social Media Platform

Google Play, the app store for devices that run on the Android operating system, rejects Truth Social, the social media platform co-founded by former President Donald Trump. Various American media report this. The app store does not want to distribute Truth Social because the network contains violent threats and other content that does not comply with Google's standards. The tech giant says it notified Truth Social on August 19 about the violations and how to fix them. Among the prerequisites are efficient systems to moderate user-generated content, a Google spokesperson said, quoted by US media. According to the Trump Media and Technology Group, Truth Social is a family-friendly and vibrant community that "has always worked in good faith with Google to ensure that the Truth Soc...