Business

Top U.S. pipeline outage impacts aviation network

Published

2 years ago

May 11, 2021

American Airlines says it has been impacted by the shutdown of the Colonial Pipeline

The airline says it has added a stop on two long-haul flights out of Charlotte North Carolina, because of a fuel supply shortage due to the recent colonial pipeline outage.

American says its daily flight from Charlotte to Honolulu will now stop in Dallas. Passengers will be required to change planes before flying onto Honolulu, while its daily flight from Charlotte to London will stop in Boston for additional fuel.

American Airlines confirms that it’s adding stops to two flight — CLT-HNL (stopping in DFW) and CLT-LHR (stopping in BOS) due to the fuel supply shortage caused by the Colonial Pipeline shutdown. Statement: pic.twitter.com/quYLBXCQWE
— David Slotnick (@David_Slotnick) May 11, 2021

American is the first U.S. airline to report an impact from the attack on the Colonial pipeline, which carries nearly half the fuel consumed along the U.S. East Coast.

They’ve stated that that the two impacted flights are expected to return to the original schedule on May 15.

Why the country’s biggest fuel pipeline system has shutdown:

One of the United States’ major fuel pipeline operators has shut its entire network following a cyber attack that involved ransomware.

Colonial Pipeline, the source of nearly half of the US east coast’s fuel supply, said they had engaged a cyber security firm to help the investigation and contacted law enforcement and federal agencies after the attack.

The biggest U.S. gasoline pipeline won’t resume full operations for at least several more days due to a ransomware cyberattack blamed on a shadowy criminal network called DarkSide.

The attack on the Colonial Pipeline is one of the most disruptive digital ransom schemes ever reported.

While the impact remains to be quantified, the pipeline shutdown will reduce fuel availability in the near term, push up prices and force refiners to cut production because they have no way to ship the gas.

On Monday, the privately-owned company said it was working on restarting in small phases with “the goal of substantially restoring operational service by the end of the week.

Business

Meta responsible for a massive data leak

Published

11 hours ago

December 1, 2022

Dr Karen Sutherland

Meta responsible for a massive data leak as Irish regulator imposes fine

Irish regulator, the Data Protection Commission, has fined Meta $275 million dollars for breaching rules to protect user data.

An investigation found Meta’s Facebook was guilty of allowing sensitive user data to be accessed from the platform. After being downloaded it was later uploaded into an online hacker forum.

Users throughout 2018 and 2019 were most at risk of their private personal data being accessed and shared.

Meta admitted tools it had created to allow people to find their friends using their phone numbers was to blame. The function was removed from the platform soon after the breach was discovered in 2019.

Worldwide, the investigation also found that data was scraped from 533 million Facebook users from 106 countries. This included over 32 million records pieces of information form users in the U.S. and 11 million in the UK.

Even though the data is three or more years old, it may still be of use to cybercriminals keen to impersonate people to procure credit cards, mobile phones and make other online purchases.

This is yet another example of social media platforms being unable to adequately protect their users by devising and implementing preventative pre-emptive security measures.

While governments attempt to hold social media platforms like Meta accountable for the content they allow on their platforms and their lax data security measures, it remains to be seen whether the platforms will actually pay the fines being imposed. Moreover, will the fines result in any genuine change?

Business

META scales back its New York office

Published

17 hours ago

December 1, 2022

Rick D'Andrea

Social media giant Meta has opted to scale back its presence in New York, as the company tries to reduce costs through a slowing online ad market.

The company revealed it will be subleasing a small portion of its facilities at a commercial tower at Hudson Yards.

A statement from the company says:

“The past few years have brought new possibilities around the role of the office, and we are prioritising making focused, balanced investments to support our most strategic long-term priorities and lead the way in creating the workplace of the future.”

In October, Meta issued a weaker-than-expected forecast for the fourth quarter and indicated revenue will drop for the period.

As well, the company revealed it was laying off over 11,000 workers, taking steps to become a leaner and more efficient company.

Business

Crypto’s Kraken slashes 30 percent of workforce

Published

17 hours ago

December 1, 2022

Ahron Young

One of the world’s largest crypto exchanges, Kraken, is laying off about 30% of its headcount, more than a thousand people.

The company’s co-founder and CEO Jesse Powell says the cuts are being made “in order to adapt to current market conditions.”

Powell wrote in a blog post that slowing growth, prompted by “macroeconomic and geopolitical factors,” had muted customer demand.

Powell says:

“We had to grow fast, more than tripling our workforce in order to provide those clients with the quality and service they expect of us,”

“I remain extremely bullish on crypto and Kraken.”

Crypto exchanges have been buffeted by withdrawals and regulatory scrutiny after the implosion of FTX, which is now spreading to other crypto exchanges.