Author: Jack Mulligan

A series of cyberattacks targeting Chrome browser extensions has compromised multiple companies since mid-December, with the campaign reportedly affecting extensions related to data protection, artificial intelligence, and virtual private networks (VPNs). Cyberhaven Among the Victims One victim, California-based Cyberhaven, confirmed the breach in a statement to Reuters on Friday. “Cyberhaven can confirm that a malicious cyberattack occurred on Christmas Eve, affecting our Chrome extension,” the company stated. The attack, according to Cyberhaven and cybersecurity experts, is part of a broader campaign aimed at Chrome extension developers across various industries. The compromised extension, used by Cyberhaven to secure and monitor client…

This year’s major tech and labor stories reflect seismic shifts in global power and worker activism. Elon Musk’s meteoric rise to influence reached new heights in 2024, making him a central figure in global politics and commerce. Meanwhile, Amazon workers staged their largest strike to date during the holiday shopping season, highlighting growing labor tensions in the U.S. Elon Musk: From CEO to Global Power Player Elon Musk’s 2024 trajectory cemented his status as one of the most powerful unelected individuals in the world. With his companies integral to digital and physical infrastructure, Musk’s influence expanded far beyond the corporate…

U.S. semiconductor stocks edged higher in premarket trading on Tuesday after the Biden administration launched a trade investigation into Chinese-made legacy semiconductors. The investigation, initiated under Section 301 of the Trade Act of 1974, could lead to new tariffs on older chips from China used in everyday products such as cars, washing machines, and telecom equipment. Semiconductor Stocks React to Trade Probe Key semiconductor companies saw modest gains following the news: Meanwhile, sector-tracking ETFs, including the SOXX and SMH, rose 0.3% and 0.2%, respectively. However, Nvidia (NASDAQ:NVDA) and Taiwan Semiconductor experienced slight declines of 0.3% and 0.8%. Protecting U.S. Semiconductor…

Apple is reportedly developing a revolutionary smart lock and doorbell system that uses facial recognition to provide seamless home access. This potential game-changer in home security could allow users to unlock their doors simply by scanning their faces, according to a report by Bloomberg. While the technology is still in its early stages, it highlights Apple’s growing interest in the home devices market and its commitment to integrating cutting-edge innovation into everyday life. A New Era for Smart Home Security The proposed smart lock and doorbell system represents Apple’s foray into home security, leveraging its expertise in facial recognition technology.…

Friday morning in Kyiv began with chaos as Russian missiles struck the city during peak commuting hours. The attack claimed the life of one person and left 12 others injured, including five who required hospitalization. Historical landmarks, embassies, and civilian buildings bore the brunt of the assault, sparking outrage across Ukraine and beyond. Serhiy Popko, head of Kyiv’s military administration, reported, “Residents in the city center heard loud explosions, and fires broke out in several buildings.” Historical and Diplomatic Landmarks Damaged Among the damaged structures was St. Nicholas Cathedral, a cultural treasure described by Ukraine’s minister for cultural affairs, Mykola…

The U.S. economy grew at a robust 3.1% annualized rate in the third quarter of 2024, according to an upward revision from the Commerce Department’s Bureau of Economic Analysis (BEA) released Thursday. The revision reflects stronger-than-expected consumer spending and export growth, offsetting declines in private inventory investment and increased imports. The third-quarter expansion outpaced the previously reported 2.8% and the second quarter’s 3.0% growth, positioning the economy well above the Federal Reserve’s non-inflationary growth benchmark of 1.8%. Consumer Spending Drives Growth Consumer spending, which accounts for over two-thirds of U.S. economic activity, was revised upward to a 3.7% annualized growth…

U.S. new vehicle sales are poised to rise to their highest levels since 2019, fueled by lower interest rates, improved affordability, and normalizing inventories. Industry analysts project sales of 16.2 to 16.3 million new light-duty vehicles in 2025, up from this year’s expected range of 15.9 to 16 million units. The anticipated growth represents a modest 2.5% or less increase in sales but reflects significant progress from years of supply chain disruptions, inflated prices, and tight inventories since the pandemic. A Friendlier Market for Car Buyers The auto market has been gradually shifting in favor of consumers as financing costs…

Nvidia (NVDA) shares dropped more than 2% on Tuesday as investor concerns mounted over a potential slowdown in AI-related spending. The decline marks a continuation of the chipmaker’s retreat from its record-high closing price of $148.88 in early November. Now down about 14% from that peak, Nvidia faces growing competition, slowing AI investment growth, and regulatory hurdles, which are tempering investor optimism. From Gaming Giant to AI Powerhouse Nvidia’s transformation from a gaming graphics card producer to the global leader in AI chips has been remarkable. The company has ridden the wave of Big Tech’s generative AI frenzy, becoming a…

The U.K. economy faced an unexpected contraction in October, reflecting growing unease among businesses and consumers ahead of the newly elected government’s budget announcement. The Office for National Statistics (ONS) reported a 0.1% decline in Gross Domestic Product (GDP) on a monthly basis, defying expectations of modest growth. This marks the second consecutive monthly downturn, raising questions about the nation’s economic trajectory as it grapples with inflation, tax policy shifts, and subdued consumer confidence. A Surprise Decline in GDP The ONS data revealed a sharper slowdown than economists had forecast, as production output experienced a notable decline. Projections from Reuters…

The Producer Price Index (PPI), a key gauge of wholesale inflation, rose 0.4% on a monthly basis and 3% annually in November, marking its highest annual rate since February 2023. This acceleration in wholesale prices suggests potential challenges ahead for consumer price levels. November PPI Highlights Economists remain cautiously optimistic, anticipating a Federal Reserve rate cut next week despite signs of persistent inflationary pressures. Egg Prices and Food Inflation Surge Food prices spiked 3.1% in November, the largest monthly increase since November 2022, driven primarily by a 54.6% surge in egg prices. Elizabeth Renter, NerdWallet’s senior economist, noted that food…