UnitedHealth CEO defends insurer after major hack, reveals amount of ransom paid as senators question firm’s size
UnitedHealth’s problems are not a threat to the entire economy, the chief executive of the nation’s largest health insurer said after senators asked whether UnitedHealth’s size could pose a system-wide threat. (CEO) told a Senate committee Wednesday. In the first of two scheduled testimony before a Congressional panel about the recent cyberattack on UnitedHealth’s technology […]
Car insurance firms agree to crack down on ‘poverty premium’ | Insurance industry
Insurers have vowed to correct their behavior following criticism over “poverty premiums,” which charge punitive interest to spread the cost on customers who can’t afford to pay for car insurance all at once. The Association of British Insurers (ABI) has announced that its members have agreed to an action plan aimed at controlling the cost […]
4 Iranians indicted for alleged malicious multi-year cyber campaign targeting US government and defense firms
Four Iranians were indicted on Tuesday for allegedly participating in a multi-year campaign of “malicious cyber operations” that targeted the U.S. State and Treasury departments, defense contractors and two New York companies. The Department of Justice (DOJ) unsealed an indictment in Manhattan federal court charging Hossein Haruni, Reza Kazemifal, Komeir Baradaran Salmani, and Alireza Shafie […]
BlackRock, Wall Street firms reportedly steered billions to blacklisted Chinese companies
Congressional investigation finds Wall Street used billions of dollars in U.S. retirement funds and other investments to buy shares in index funds that included several blacklisted Chinese companies did. The Wall Street Journal reported Thursday. According to the report, the study was conducted by a bipartisan House committee with the mandate to develop a strategy […]
Treasury Secretary Janet Yellen calls for level playing field for US workers and firms during China visit
U.S. Treasury Secretary Janet Yellen on Friday called on China to address manufacturing overcapacity that could cause global economic disruption and level the playing field for U.S. businesses and workers. . The prime minister, who began a five-day visit to China in one of China’s major industrial and export hubs, said he expected tough talks […]
Sam Bankman-Fried’s FTX workforce struggling to move on after firm’s downfall: report
Some former staffers at Sam Bankman Fried’s now-bankrupt FTX are reportedly struggling to find work again and battling depression since the cryptocurrency exchange’s stunning collapse. . According to the Wall Street Journal, Natalie Tien, who headed FTX’s public affairs and was also an executive assistant to Bankman Fried, has at least $500,000 of personal investments […]
Video game firms found to have broken own UK industry rules on loot boxes | Gambling
The UK government’s decision to force technology companies to self-regulate gambling-style loot boxes in video games has been called into question after some developers responsible for the industry’s new guidelines broke their own rules. In the past six months, the advertising regulator has filed charges against three companies involved in developing industry rules, including major […]
Texas divests $8.5 billion from BlackRock, citing firm’s ‘destructive’ ESG push
The state of Texas notified investment management firm BlackRock on Tuesday of its plans to cancel an $8.5 billion investment, citing the company’s “disruptive” environmental, social and governance initiatives. fox business report. Texas State Board of Education Chairman Aaron Kinsey told news outlets that the Texas Permanent School Fund, which previously invested in BlackRock, will […]
SEC fines two investment firms for ‘AI washing’
The Securities and Exchange Commission (SEC) announced Monday that two investment firms have agreed to pay a total of $400,000 in penalties after the companies made false and misleading statements about their use of artificial intelligence (AI). did. The investment companies, Toronto-based Delphia and San Francisco-based Global Predictions, neither admit nor deny the civil charges, […]
FTC probing Reddit plan to let AI firms use user-generated content to train software
The Federal Trade Commission (FTC) is investigating Reddit’s plan to have artificial intelligence (AI) companies use user-generated content to train its software, the social media company said. About filing Friday. The investigation comes just days before Reddit was scheduled to complete its initial public offering, which it filed for last month. According to an SEC […]