business – Page 4 – Tech Today w/ Ken May

Anthem To Pay $115 Million In The Largest Data Breach Settlement Ever

An anonymous reader quotes CNET: Anthem, the largest health insurance company in the U.S., has agreed to settle a class action lawsuit over a 2015 data breach for a record $115 million, according to lawyers for the plaintiffs. The settlement still has to be approved by US District Court Judge Lucy Koh, who is scheduled to hear the case on August 17 in San Jose, California. And Anthem, which didn’t immediately respond to a request for confirmation and comment, isn’t admitting any admitting any wrongdoing, according to a statement it made to CyberScoop acknowledging the settlement. But if approved, it would be the largest data breach settlement in history, according to the plaintiffs’ lawyers, who announced the agreement Friday. The funds would be used to provide victims of the data breach at least two years of credit monitoring and to reimburse customers for breach-related expenses. The settlement would also guarantee a certain level of funding for “information security to implement or maintain numerous specific changes to its data security systems, including encryption of certain information and archiving sensitive data with strict access controls, ” the plaintiff attorneys said. The breach compromised data for 80 million people, including their social security numbers, birthdays, street addresses (and email addresses) as well as income data. The $115 million settlement averages out to $1.43 for every person who was affected. Read more of this story at Slashdot.

Just 14 People Make 500,000 Tons of Steel a Year in Austria

An anonymous reader shares a Bloomberg Businessweek feature: The Austrian village of Donawitz has been an iron-smelting center since the 1400s, when ore was dug from mines carved out of the snow-capped peaks nearby. Over the centuries, Donawitz developed into the Hapsburg Empire’s steel-production hub, and by the early 1900s it was home to Europe’s largest mill. With the opening of Voestalpine AG’s new rolling mill this year, the industry appears secure. What’s less certain are the jobs. The plant, a two-hour drive southwest of Vienna, will need just 14 employees to make 500, 000 tons of robust steel wire a year — vs. as many as 1, 000 in a mill with similar capacity built in the 1960s. Inside the facility, red-hot metal snakes its way along a 700-meter (2, 297-foot) production line. Yet the floors are spotless, the only noise is a gentle hum that wouldn’t overwhelm a quiet conversation, and most of the time the place is deserted except for three technicians who sit high above the line, monitoring output on a bank of flatscreens. “We have to forget steel as a core employer, ” says Wolfgang Eder, Voestalpine’s chief executive officer for the past 13 years. “In the long run we will lose most of the classic blue-collar workers, people doing the hot and dirty jobs in coking plants or around the blast furnaces. This will all be automated.” Read more of this story at Slashdot.

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Just 14 People Make 500,000 Tons of Steel a Year in Austria

Team Collaboration App Slack, Valued at $9 Billion, Draws Attention of Amazon

Amazon is in the running among a handful of companies looking to acquire the popular chatroom startup, reports Bloomberg. From the article: San Francisco-based Slack could be valued at at least $9 billion in a sale, the people said. An agreement isn’t assured and discussions may not go further, said the people. Buying Slack would help Seattle-based Amazon bolster its enterprise services as it seeks to compete with rivals like Microsoft and Alphabet’s Google. The company’s cloud-hosting unit, Amazon Web Services, in February unveiled a paid-for video and audio conferencing service — Amazon Chime — that lets users chat and share content. Kara Swisher, reporting for Recode: Slack, the popular business communications company, is in the midst of raising $500 million at a $5 billion post-money valuation, an effort that has attracted several potential buyers interested in taking out the company ahead of the funding. Those include Amazon, Microsoft, Google and Salesforce, several of which have previously shown interest in acquiring Slack. Bloomberg reported the interest by Amazon today, with a $9 billion sales price. Read more of this story at Slashdot.

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Team Collaboration App Slack, Valued at $9 Billion, Draws Attention of Amazon

Intel Announces X299, Skylake-X, and Kaby Lake-X Release Schedule

Ian Cutress, writing for AnandTech: At Computex a couple of weeks ago, Intel announced its new Basin Falls platform, consisting of the X299 chipset with motherboards based on it, a pair of Kaby Lake-X processors, and a set of Skylake-X processors going all the way up to eighteen cores, denoting the first use of Intel’s enterprise level high core-count silicon in a consumer product. As part of Intel’s E3 press release, as well as their presentations at the show, the new Core i9 processors were discussed, along with Intel’s continued commitment towards eSports. Intel gave the dates for the new platform as the following: 4, 6, 8 and 10-core parts available for pre-order from June 19th; 4, 6, 8 and 10-core parts shipping to consumers from June 26th; 12-core parts expected to ship in August; and 14, 16 and 18 core parts expected to ship in October. Read more of this story at Slashdot.

Cook Says Apple Is Focusing on Making an Autonomous Car System

An anonymous reader shares a Bloomberg report: After years toiling away in secret on its car project, Apple Chief Executive Officer Tim Cook has for the first time laid out exactly what the company is up to in the automotive market: It’s concentrating on self-driving technology. “We’re focusing on autonomous systems, ” Cook said in an interview on Bloomberg Television. “It’s a core technology that we view as very important. We sort of see it as the mother of all AI projects, ” Cook said in his most detailed comments to date on Apple’s plans in the car space. “It’s probably one of the most difficult A.I. projects actually to work on.” “There is a major disruption looming there, ” Cook said on Bloomberg Television, citing self-driving technology, electric vehicles and ride-hailing. “You’ve got kind of three vectors of change happening generally in the same time frame.” Cook was also bullish about the prospects for electric vehicles, a market which last week helped Tesla become the world’s fourth-biggest carmaker by market capitalization, even as it ranks well outside the top 10 by unit sales.”It’s a marvelous experience not to stop at the filling station or the gas station, ” Cook said. Read more of this story at Slashdot.

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Cook Says Apple Is Focusing on Making an Autonomous Car System

Developer Accidentally Deletes Production Database On Their First Day On The Job

An anonymous reader quotes Quartz: “How screwed am I?” asked a recent user on Reddit, before sharing a mortifying story. On the first day as a junior software developer at a first salaried job out of college, his or her copy-and-paste error inadvertently erased all data from the company’s production database. Posting under the heartbreaking handle cscareerthrowaway567, the user wrote, “The CTO told me to leave and never come back. He also informed me that apparently legal would need to get involved due to severity of the data loss. I basically offered and pleaded to let me help in someway to redeem my self and i was told that I ‘completely fucked everything up.'” The company’s backups weren’t working, according to the post, so the company is in big trouble now. Though Qz adds that “the court of public opinion is on the new guy’s side. In a poll on the tech site the Register, less than 1% of 5, 400 respondents thought the new developer should be fired. Forty-five percent thought the CTO should go.” Read more of this story at Slashdot.

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Developer Accidentally Deletes Production Database On Their First Day On The Job

It’s Been So Windy in Europe That Electricity Prices Have Turned Negative

An anonymous reader writes: It’s been very windy across Europe this week. So much so, in fact, that the high wind load on onshore and offshore wind turbines across much of the continent has helped set new wind power records. For starters, renewables generated more than half of Britain’s energy demand on Wednesday — for the first time ever. In fact, with offshore wind supplying 10 percent of the total demand, energy prices were knocked into the negative for the longest period on record. The UK is home to the world’s biggest wind farm, and the largest wind turbines, so it’s no surprise that this was an important factor in the country’s energy mix. “Negative prices aren’t frequently observed, ” Joel Meggelaars, who works at renewable energy trade body WindEurope, told Motherboard over the phone. “It means a high supply and low demand.” Read more of this story at Slashdot.

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It’s Been So Windy in Europe That Electricity Prices Have Turned Negative

Verizon Expected To Cut Up To 1,000 Yahoo, AOL Jobs After Acquisition

Verizon’s acquisition and merger of AOL and Yahoo will result in many job cuts. According to Recode, up to 1, 000 AOL and Yahoo jobs are expected to take place across the two companies as the merger is completed. From the report: This action is not unexpected, given that both companies have a lot of redundancies, including in human resources, finance, marketing and general administration. The merger between the two companies — after Verizon bought both in succession to add tech and content to its mobile services — is expected to be completed in the next week. The shareholder meeting to approve the deal takes place tomorrow. Plans to combine both companies have been in the works for a while, as the pair attempt to make a cohesive unit out of two entities that have multiple assets and also multiple problems. It will be headed by AOL CEO Tim Armstrong, who will become the CEO of Oath, the new name for the Verizon subsidiary. Read more of this story at Slashdot.

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Verizon Expected To Cut Up To 1,000 Yahoo, AOL Jobs After Acquisition

Wikimedia Executives Receive Six-figure Golden Handshakes

Andreas Kolbe writes: The Wikimedia Foundation’s (WMF) recently released Form 990 shows that the organisation has developed a practice of handing outgoing managers six-figure severance payments, The Register reports. The foundation, which relies entirely on unpaid volunteers to generate the content of its websites, has taken around $300 million dollars over the past five years through fundraising banners placed on Wikipedia. The WMF says it is “committed to communicating with our volunteers, donors, and stakeholders in an open, accountable, and timely manner”, but has long been criticised for providing little transparency on the salaries of its executives, limiting itself to the legally required Form 990 disclosures that only become public two years after the event. Read more of this story at Slashdot.

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Wikimedia Executives Receive Six-figure Golden Handshakes

At $75,560, Housing a Prisoner in California Now Costs More Than a Year at Harvard

The cost of imprisoning each of California’s 130, 000 inmates is expected to reach a record $75, 560 in the next year, the AP reported. From the article: That’s enough to cover the annual cost of attending Harvard University and still have plenty left over for pizza and beer Gov. Jerry Brown’s spending plan for the fiscal year that starts July 1 includes a record $11.4 billion for the corrections department while also predicting that there will be 11, 500 fewer inmates in four years (alternative source) because voters in November approved earlier releases for many inmates. The price for each inmate has doubled since 2005, even as court orders related to overcrowding have reduced the population by about one-quarter. Salaries and benefits for prison guards and medical providers drove much of the increase. The result is a per-inmate cost that is the nation’s highest — and $2, 000 above tuition, fees, room and board, and other expenses to attend Harvard. Since 2015, California’s per-inmate costs have surged nearly $10, 000, or about 13%. New York is a distant second in overall costs at about $69, 000. Read more of this story at Slashdot.

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At $75,560, Housing a Prisoner in California Now Costs More Than a Year at Harvard