Microsoft admits Nokia acquisition was a bad deal

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Barely a year after Microsoft paid $9.5 billion for Nokia’s handset unit, the company says it has lost $7.6 billion of that value. That’s equal to about 95 percent of what Microsoft paid for the assets, excluding the cash that came with them. Along with a hefty writedown, Microsoft plans to cut as many as 7,800 jobs, many of them related to the purchase of the Finnish mobile phone maker. Reports Bloomberg “I am committed to our first-party devices including phones,” Satya Nadella, Microsoft’s current CEO, wrote in an email to employees about the moves.…

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Drill-Down Report Finds Global Financial Services Businesses 300% More Susceptible To Cybercrime

Google
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Global financial services businesses encounter security incidents 300% more frequently than other industries, according to a report released on Tuesday by Raytheon | Websense, a company that helps protect organizations from cyber attacks and data theft. The 2015 Financial Services Drill-Down Report found “a high degree of specialization among criminals attacking financial services, a huge investment in the lure attack phase and the specific and anomalous Cybercrime attacks pointed at global targets dealing in finance.” “For years, this industry has been under attack by highly specialized groups of criminals,” said…

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AT&T hit with a $100 million fine after slowing down, “throttling” its ‘unlimited’ data

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Washington Post reports that the Federal Communications Commission slapped AT&T with a $100 million fine Wednesday, accusing the country’s second-largest cellular carrier of improperly slowing down, throttling Internet speeds for customers who had signed up for “unlimited” data plans. The FCC found that when customers used up a certain amount of data watching movies or browsing the Web, AT&T “throttled” their Internet speeds so that they were much slower than normal. Millions of AT&T customers were affected by the practice, according to the FCC. The fine, which AT&T says it will fight, is the largest ever levied…

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Tech IPOs indicate slowest pace since the banking crisis

Banking Crisis
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With the end of the first half of the year in sight, it looks like Fitbit may be the last tech IPO of what so far has been the slowest year for new public offerings in the sector since 2009. That was the middle of the banking crisis and just after Sequoia Capital made its “RIP:Good Times” presentation to its portfolio CEOs in 2008. There have only been two tech companies from the Bay Area to go public so far this year — Box and Apigee — and San Francisco-based…

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Microsoft opens a ‘No Back Door’ Transparency Center to allow European governments a look at its source codes

Microsoft
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Microsoft has opened a Transparency Center in the Belgian capital, offering European governments a look at its source code. The center, opened in Brussels last week, will “enable governments to review and assess the source code of Microsoft products and to access important security information in a secure environment,” Microsoft said. The center is the second such facility the company has built – the first was opened in Redmond last year – and will be open to governments that have signed up to the company’s Government Security Program, which lets…

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How 5 most valuable internet companies have changed over the past 2 decades

Google
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It’s mind-boggling how the 5 most valuable internet companies have changed over the past 20 years In 1995, the internet was just about to get started. It was only a year after big internet companies like Yahoo and Netscape were founded. Fast forward 20 years later, and the web business landscape looks a lot different from back then. In fact, only 1 out of the 5 most valuable public internet companies from 1995 are still in the top 5 list, according to Mary Meeker’s “Internet Trends” report. Check out the…

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Startups are bringing mobile banking to the last mile in Africa

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Mobile banking has provided financial inclusion for developing countries. A new wave of startups is now taking the tech beyond mobile wallets. When Ismail Ahmed moved from Somalia to England in 1988, he regularly sent money back home. He experienced exorbitant fees, transfer offices with erratic opening hours, and was often worried about how easily his family would be able to retrieve the money. In 2010 Ahmed founded WorldRemit, an online service that allows users to send money internationally via a PC or phone. Today, more than 250,000 transactions flow…

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Simple Website Security Flaw Exposes Data Of Charter Internet Customers

Liquid Telecom
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A Website Security flaw discovered in the site of Charter Communications, a cable and Internet provider active in 28 states, may have exposed the personal account details of its customers. Security researcher Eric Taylor discovered the cable provider’s vulnerability as part of his research, and demonstrated how a simple header modification performed with a browser plug-in could reveal details about Charter’s Internet subscribers. After Fast Company notified Charter of the issue, the company said it had installed a fix within hours. The vulnerability could reveal personal information of “millions” of the…

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Federal Reserve Bank of St. Louis Confirms it was Hacked

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SAN FRANCISCO — The Federal Reserve Bank of St. Louis confirmed on Tuesday that hackers had successfully hacked the bank, redirecting users of its online research services to fake websites set up by the attackers. The breach was just the latest in a spate of hackings against government systems in recent months, affecting the White House, the State Department and even the president’s own email account. In this case, the attack appeared to compromise the Internet’s routing system, known as the domain name system, or D.N.S thus was  hacked. In…

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Finally After Six Years President Obama’s @POTUS is Live on Twitter

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“Hello, Twitter! It’s Barack. Really! Six years in, they’re finally giving me my own account.” So, it’s official. After years of signing “-BO” at the end of @BarackObama to signal the tweets he crafted himself from an account operated by the Organizing for Action staff, the President now has his very own handle @POTUS, tweeting for the first time. Sometimes, they said, Mr. Obama will type the words himself, as he did Monday, when he was captured in a photo released by the White House. Other times, he might dictate…

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