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Daily Archives: May 13, 2024

Rising Cyber Threats Pose Serious Concerns for Financial Stability

IMF: “Cyberattacks have more than doubled since the pandemic. While companies have historically suffered relatively modest direct losses from cyberattacks, some have experienced a much heavier toll. US credit reporting agency Equifax, for example, paid more than $1 billion in penalties after a major data breach in 2017 that affected about 150 million consumers. As we show in a chapter of the April 2024 Global Financial Stability Report, the risk of extreme losses from cyber incidents is increasing. Such losses could potentially cause funding problems for companies and even jeopardize their solvency. The size of these extreme losses has more than quadrupled since 2017 to $2.5 billion. And indirect losses like reputational damage or security upgrades are substantially higher. The financial sector is uniquely exposed to cyber risk. Financial firms—given the large amounts of sensitive data and transactions they handle—are often targeted by criminals seeking to steal money or disrupt economic activity. Attacks on financial firms account for nearly one-fifth of the total, of which banks are the most exposed…”

How to block websites on your iPhone

Mashable: “Whether you’re trying to manage screen time and avoid certain websites, or whether you’re setting some boundaries on your kid’s device, there’s an easy way to block sites on your iPhone. If it’s specifically the latter, you can also set up parental controls on your iPhone — just know they’re not the full answer.… Continue Reading

If You Read a Lot of Fiction, Scientists Have Very Good News About Your Brain

Futurism: “It’s a big day for bookworms: scientists studying how reading fiction affects your brain say the news is very good. In an interview with PsyPost, Lena Wimmer, a postdoctoral researcher at Germany’s Maximilian University, explained that she and her colleagues wanted to lay the groundwork for quantitative studies about fiction’s effect on thinking — and… Continue Reading

As Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Lose

The New York Times [unpaywalled]: “The insurance turmoil caused by climate change — which had been concentrated in Florida, California and Louisiana — is fast becoming a contagion, spreading to states like Iowa, Arkansas, Ohio, Utah and Washington. Even in the Northeast, where homeowners insurance was still generally profitable last year, the trends are worsening.… Continue Reading

Automakers and Climate Policy Advocacy: A Global Analysis

“New InfluenceMap analysis finds that negative lobbying by the world’s largest automakers is putting global climate targets at risk and threatening the transition to electric vehicles. This report analyses the climate policy engagement strategies of fifteen of the largest global automakers in seven key regions (Australia, EU, Japan, India, South Korea, UK, US). It shows… Continue Reading

Web publishers brace for carnage as Google adds AI answers

Washington Post [read free via MSN]: “As the tech giant gears up for Google I/O, its annual developer conference, this week, creators like Matherne are worried about the expanding reach of its new search tool that incorporates artificial intelligence. The product, dubbed “Search Generative Experience,” or SGE, directly answers queries with complex, multi-paragraph replies that… Continue Reading