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Tag: CNN Business

  • Russia Blocks Instagram In Retaliation For Resistance Posts

    Russia Blocks Instagram In Retaliation For Resistance Posts

    Russia vowed to block Instagram Sunday at midnight, in response to Meta allowing Ukrainians to post resistance messages.

    Meta made the unusual decision to allow Ukrainians to post messages that would normally be considered hate speech, including things like “Death to the Russian invaders.” Given the extreme circumstances in play, Meta made the exception, while making it very clear it only applied to Ukraine, according to CNN Business. The company voiced its believe that it would be wrong to stop Ukrainians from “expressing their resistance and fury at the invading military forces.”

    Russia has not accepted Meta’s decision gracefully, warning users to download a copy of any photos or videos they want to save before it blocks the service.

    The news is just the latest escalation between Russian and Western tech companies.

  • Demise of Adobe Flash Has Led to Loss of Important 9/11 Coverage

    Demise of Adobe Flash Has Led to Loss of Important 9/11 Coverage

    Important news coverage of 9/11 has been lost as a result of Adobe Flash being discontinued.

    Adobe Flash reigned supreme for years, the preferred way of presenting videos on the internet. Ultimately, a seemingly endless array of security issues, combined with resource-intensive performance, led Apple to stop including the Flash Player with new Macs. Other companies soon followed suit, spelling the demise of the product and the format it spawned.

    A further nail in the coffin was the rise of standards compliant alternatives, such as HTML5, that addressed many of Flash’s shortcomings.

    Unfortunately, much of the video coverage of 9/11 was uploaded to the internet using Flash, meaning it is no longer accessible, according to CNN Business. 

    “This is really about the problem of what I call the boneyard of the internet. Everything that’s not a piece of text or a flat picture is basically destined to rot and die when new methods of delivering the content replace it,” Dan Pacheco, professor of practice and chair of journalism innovation at Syracuse University’s Newhouse School, told CNN Business. “I just feel like the internet is rotting at an even faster pace, ironically, because of innovation. It shouldn’t.”

    While the death of Flash was a welcome improvement to the Internet, it illustrates the challenges and importance of finding a way to archive important content when older technologies and formats fade away.

  • The Return of Clippy: Microsoft Bringing Clippy Back As An Emoji

    The Return of Clippy: Microsoft Bringing Clippy Back As An Emoji

    Love him or hate him, the animated paperclip Clippy is set to return as an emoji.

    Few things have so divided Microsoft Office users as much as Clippy. Introduced in Windows 97 (and removed in Office 2007) as a Microsoft Office virtual assistant, some people loved Clippy’s antics, while others hated him.

    The company teased Clippy’s return in a tweet saying, if the tweet received 20,000 likes, the company would replace the Microsoft 365 paperclip with Clippy.

    The tweet has received 154.9K likes (including one from yours truly. You’re welcome for that, by the way), pretty much ensuring Microsoft will follow through with its promise.

    “When we looked at redesigning the paper clip, we thought, ‘How could you not?” Claire Anderson, Microsoft’s art director, and resident “emojiologist,” told CNN Business. “It’s a way of honoring where we’ve come from as we also look at a new tech style. .. But like most nostalgic things, we know Clippy can be polarizing.”

  • McDonald’s Impacted by Data Breach

    McDonald’s Impacted by Data Breach

    McDonald’s now joins an ever-growing list of major companies impacted by data breaches.

    On the same day that VW announced it was impacted by a data breach, fast-food leader McDonald’s announced it too has suffered a breach. The company says private information was accessed for both employees and customers in South Korea and Taiwan.

    According to CNN Business, McDonald’s says it’s cybersecurity investments were to thank for helping the company identify the breach as fast as it did, preventing additional harm.

    “These tools allowed us to quickly identify and contain recent unauthorized activity on our network,” a spokesperson told CNN Business. “A thorough investigation was conducted, and we worked with experienced third parties to support this investigation.”

    It seems the damage could have been far worse had McDonald’s not contained the breach so fast. According to The Wall Street Journal, the hackers also gained access to some US employees’ business contact information, as well minor logistical information on some US restaurants, such as seating capacity. No sensitive or personal information was leaked for US employees or customers.

  • Google Has a Credibility Problem As Researchers Shun Its Funding

    Google Has a Credibility Problem As Researchers Shun Its Funding

    In the wake of Google’s high-profile missteps with its ethical AI team, the company has suffered a loss of credibility as researchers decline its funding.

    Google made headlines when it fired Dr. Timnit Gebru, its ethical AI team co-lead. Despite the company trying to portray the situation as a “resignation,” Dr. Gebru and her co-workers say she was fired. Given her stature as one of the world’s leading AI ethics researchers, Google’s actions resulted in tremendous scrutiny.

    At the heart of the issue was academic integrity, with Google objecting to a paper Dr. Gebru had co-authored, critical of certain types of AI technology, including some that Google uses. Margaret Mitchell, the other ethical AI team co-lead, was fired shortly thereafter.

    Google’s actions have drawn widespread condemnation, from both inside and outside the organization. Some engineers have quit in protest, and the firings were directly cited by workers when forming the Alphabet Workers Union. The company has also seen its sponsorship of at least one high-profile conference suspended.

    The company’s behavior is further impacting its standing in the AI community, as some researchers are turning down funding offers.

    CNN Business cites the example of Luke Stark, an assistant professor at Western University in Ontario, Canada. He originally applied for a Google Research Scholar award, because of his “sense at the time that Google was building a really strong, potentially industry-leading ethical AI team.”

    Despite being awarded a $60,000, no-strings-attached grant, Stark ultimately ended up turning it down because of the company’s actions.

    He’s not alone. Vijay Chidambaram, an assistant professor at the University of Texas at Austin, had previously received $30,000 from Google in 2018. The company’s recent actions, however, have ruled out his taking any additional funding.

    “In good conscience, I can no longer accept funding from a company that treats its employees in this manner,” Chidambaram told CNN Business.

    Google has made attempts to mitigate the damage to its reputation, including an apology from CEO Sundar Pichai and appointing Dr. Marian Croak, a Black woman, to head the ethical AI team. These measures, however, have been criticized as being tone-deaf, shifting blame or an attempt to gloss over the company’s real issues with token measures.

    One thing is clear: Google has a major creditability problem that will continue to cost it until it takes concrete measures to address the real problem.

  • Best Buy Lays Off 5,000 Employees, Will Shutter More Stores

    Best Buy Lays Off 5,000 Employees, Will Shutter More Stores

    Best Buy has laid off some 5,000 employees and plans to close additional stores as customers turn to online shopping.

    American customers have increasingly been turning to Amazon and online stores for their electronics needs, putting pressure on traditional, brick and mortar stores. With the pandemic further changing consumers’ shopping habits, traditional stores have been under even more pressure. Fry’s Electronics announced it was closing Wednesday, illustrating the growing challenges traditional businesses are facing.

    Best Buy, in contrast, has fared relatively well during the pandemic. Much of this is due to the company’s online sales. According to CNN Business, the company expects 40% of its sales to come from online purchases in 2021, as opposed to 19% two years ago. The company has also been relatively successful with its physical stores, although it expects in-store business to slow this year.

    As a result, Best Buy has laid off 5,000 staff, mostly full-time employees. The company is also raising the bar for evaluating whether to renew store leases. The company already closed 20 stores a year for the past couple of years, and expects that number to go up this year.

  • Jack Ma Finally Resurfaces After Months Out of View

    Jack Ma Finally Resurfaces After Months Out of View

    Alibaba co-founder Jack Ma has finally resurfaced, after being out of the public view for months.

    Ma’s absence sparked concern, largely because of his recent criticism of China’s regulatory system. There was swift backlash, with Chinese authorities blocking the IPO of Alibaba’s Ant Group, estimated at $37 billion.

    According to CNN Business, Ma was spotted in a video posted by Chinese state media. The billionaire was seen in rural China, speaking to teachers as part of his philanthropic work.

    Alibaba’s stocks were up in both the Hong Kong and New York exchanges on the news.

    At the same time, not all investors are convinced everything is ok. Just because Ma made an appearance doesn’t mean Alibaba, or Ma himself, are in the clear.

    “What his actual state is will be completely up to Beijing to reveal to us,” Leland Miller, CEO of U.S.-based consultancy China Beige Book, according to Reuters. “What we do know is whether Jack is running around, Jack is hiding or something else, Alibaba is not in the clear. There is a lot more of the story still to see.”

  • Staples Wants to Buy Office Depot For $2.1 Billion

    Staples Wants to Buy Office Depot For $2.1 Billion

    Staples is once again offering to buy Office Depot, this time for $2.1 billion.

    Staples had previously tried to purchase its rival in 2015. At the time, the Federal Trade Commission (FTC) blocked the merger, saying the combined company would control too much of the market.

    According to CNN Business the company is determined to do whatever it takes to gain regulatory approval this time around. It has signaled it’s even willing to sell CompuCom, its IT management company, or sell its business-to-business unit.

    Staples is offering $2.1 billion, or $40 per share. This represents roughly a 60% premium over Office Depot’s current stock price, as of the time of writing. The translocation would be an all-cash deal, according to Staples.

  • McDonald’s Gets Into the Plant-Based ‘Meat’ Market

    McDonald’s Gets Into the Plant-Based ‘Meat’ Market

    McDonald’s is the latest fast-food company to offer plant-based meat alternatives with its McPlant lineup.

    Plant-based meat alternatives have been growing in popularity as a healthy alternative to traditional meat. Burger King, Dunkin’, Carl’s Jr., Qdoba, Subway and White Castle are just a few of the chains offering plant-based alternatives.

    McDonald’s is now joining that growing list of restaurants with its McPlant, based on Beyond Meat.

    “Beyond Meat and McDonalds co-created the plant-based patty which will be available as part of their McPlant platform,” a Beyond Meat spokesperson said, according to CNN Business.

    Initially, McPlant will be used for a burger, but the company may eventually expand to include plant-based breakfast and chicken alternatives. The company will be testing the burger in select markets beginning next year.

  • Wells Fargo Bans TikTok From Company Phones

    Wells Fargo Bans TikTok From Company Phones

    The hits keep on coming for TikTok as Well Fargo has instructed employees to delete the social media app from their phones.

    TikTok has been under siege over the last few months in regard to numerous privacy and security issues. The company has been sued for allegedly capturing and uploading video to Chinese servers without consent, violating child privacy and censoring users deemed ‘poor’ or ‘ugly.’ The app has been labeled ‘fundamentally parasitic,’ and has been banned from the phones of government agencies and military personnel. The Trump administration is even mulling a widespread ban of the app.

    Amidst these issues, Wells Fargo has told some employees to delete the app from their phones, citing privacy concerns surrounding it. The ban appears to primarily impact a small number of employees with corporate devices.

    “Due to concerns about TikTok’s privacy and security controls and practices, and because corporate-owned devices should be used for company business only, we have directed those employees to remove the app from their devices,” the company said in a statement to CNN Business.

    Given how popular the app has become, any widespread ban will likely run into resistance. Nonetheless, the tide seems to be turning against TikTok.

  • Telefonica Germany Has Selected Huawei to Help Build Its 5G Network

    Telefonica Germany Has Selected Huawei to Help Build Its 5G Network

    CNN Business is reporting that Telefonica Germany has decided to use Huawei equipment to build its 5G network.

    Huawei has been fighting allegations that its equipment can be used by the Chinese government to spy on companies or governments using Huawei’s equipment. The U.S. has already blacklisted Huawei and has been campaigning allies to do the same.

    Germany has been something of a battleground for the telecommunications company, as conservative elements within the German government have called on Chancellor Merkel to ban Huawei. So far, Merkel has refused those calls, instead saying the government would outline security measures all telecommunications vendors must meet.

    In the midst of the back-and-forth over Huawei’s role, Telefonica Germany has announced they plan on using the company’s equipment in their 5G rollout, although they told CNN Business they “will only go ahead with the partnership once Huawei receives a security certification from Berlin.”

    Nonetheless, the news is a big win for Huawei, and adds weight to the claims of network operators that it will be difficult to roll out 5G without access to Huawei’s equipment.