Chinese Spies Lurked for Months Inside U.S.-Based Engineering Firm’s Network
John Dwyer, research director at cybersecurity firm Binary Defense, said in an interview on Wednesday that Chinese government-backed hackers infiltrated the network of a U.S.-based global engineering company and remained hidden for months before being discovered. In an interview with The Register, Dwyer declined to name the engineering firm that was targeted or the Chinese […]
Big tech firms balk at Ohio electric utility demand to pay for grid upgrades
Google, Amazon, Microsoft and Meta have banded together to fight Ohio's power company, which is demanding it pay for power grid upgrades needed to support big tech companies' plans to install energy-hungry data centers to power artificial intelligence technology. American Electric Power Ohio, which supplies electricity to Columbus and other cities as well as rural […]
Firms jostle to sell alternative assets to wealthy investors – Financial Times
The race is on to sell unlisted assets to wealthy private investors. Leading custody bank BNY on Monday announced plans for a platform that will make it easier for financial advisers to buy and manage investments across a range of well-known private equity, private debt and infrastructure companies for their clients. This follows three highly […]
Kamala Harris still touts Goldman Sachs review of her economic plan that firm’s CEO dismissed
WILKES-BARRE, Pa. — Vice President Kamala Harris on Friday hyped up Goldman Sachs' review of her economic plan after the firm's CEO noted the report showed VP Harris' policies would have a minimal impact on the economy. “Independent economists like Goldman Sachs say my plan will grow the economy and [former President Donald Trump’s] “This […]
Google exec said firm’s ‘goal’ was to ‘crush’ digital ad rivals: court docs
Google executives bragged to colleagues in 2009 that the goal of the company's nascent online advertising business was to “outcompete” rivals in the digital advertising market, according to evidence presented Wednesday in a major federal antitrust trial against the tech giant. The Justice Department highlighted comments made by Google's former president of display advertising, David […]
China poised to embed ‘Communist Party spies’ inside US firms — including Microsoft, critics warn
The Chinese government is poised to infiltrate Microsoft and other American companies doing business in the country with “Communist spies” who could steal trade secrets, poach employees and even subject them to chilling intimidation tactics, The Washington Post has found. A new version of Beijing's “Company Law” that came into effect on July 1 requires […]
25 financial firms accused of putting enviro policy over shareholders’ green: ‘We’re going to get answers’
Attorneys general from 24 states have sent letters to 25 asset management companies demanding answers about their recent votes on proposals that overly prioritized environmental issues over shareholder concerns. All of the companies questioned had voted more than 75% in line with environmental proposals from the nonprofit Shareholder Services Organization (ISS), which was highlighted by […]
NFL owners allow private equity firms to buy up to 10% of clubs for first time
The National Football League approved new rules on Tuesday that will allow team owners to sell parts of their franchises to private equity firms, raising the possibility of a windfall that could add billions of dollars to the value of clubs. The NFL's 32 owners voted for the measure at a special league meeting in […]
US firms’ ‘low firing’ approach could turn to more layoffs, Fed’s Barkin warns
Jim Thorne, chief market strategist at Wellington Altus Private Wealth, argues that the Fed needs to get inflation down to neutral levels quickly. In newly released comments, Richmond Fed President Thomas Barkin said U.S. companies’ current approach to hiring decisions — hiring fewer people and firing fewer — is likely short-lived, and he noted the […]
Crypto firms made nearly half of corporate donations in 2024 election: report
Cryptocurrency companies accounted for nearly half of all corporate donations in the 2024 presidential election, according to a report, sparking criticism of the industry’s growing influence. Crypto companies have donated more than $119 million in political contributions, most of which have gone to nonpartisan super PACs focused on electing pro-crypto candidates. According to a report […]