Archive for the ‘finance’ category: Page 11

Dec 24, 2020

Emotet Returns to Hit 100K Mailboxes Per Day

Posted by in categories: cybercrime/malcode, finance

Just in time for the Christmas holiday, Emotet is sending the gift of Trickbot.

After a lull of nearly two months, the Emotet botnet has returned with updated payloads and a campaign that is hitting 100, 000 targets per day.

Emotet started life as a banking trojan in 2014 and has continually evolved to become a full-service threat-delivery mechanism. It can install a collection of malware on victim machines, including information stealers, email harvesters, self-propagation mechanisms and ransomware. It was last seen in volume in October, targeting volunteers for the Democratic National Committee (DNC); and before that, it became active in July after a five-month hiatus, dropping the Trickbot trojan. Before that, in February, it was seen in a campaign that sent SMS messages purporting to be from victims’ banks.

Dec 20, 2020

Lilly’s neutralizing antibody bamlanivimab (LY-CoV555) receives FDA emergency use authorization for the treatment of recently diagnosed COVID-19

Posted by in categories: business, finance

People who are sick can ask for EUA drugs, but you have to ask often. INDIANAPOLIS, Nov. 9, 2020 /PRNewswire/ — The U.S. Food and Drug Administration (FDA) today granted Emergency Use Authorization (EUA) for Eli Lilly and Company’s (NYSE: LLY) investigational neutralizing antibody bamlanivimab (LY-CoV555) 700 mg. Bamlanivimab is authorized for the treatment of mild to moderate COVID-19 in adults and pediatric patients 12 years and older with a positive COVID-19 test, who are at high risk for progressing to severe COVID-19 and/or hospitalization. Bamlanivimab should be administered as soon as possible after a positive COVID-19 test and within 10 days of symptom onset. The authorization allows for the distribution and emergency use of bamlanivimab, which is administered via a single intravenous infusion.

The Investor Relations website contains information about Eli Lilly and Company’s business for stockholders, potential investors, and financial analysts.

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Dec 20, 2020

Wall Street’s latest shiny new thing: quantum computing

Posted by in categories: economics, finance, information science, quantum physics, robotics/AI

THE FINANCE industry has had a long and profitable relationship with computing. It was an early adopter of everything from mainframe computers to artificial intelligence (see timeline). For most of the past decade more trades have been done at high frequency by complex algorithms than by humans. Now big banks have their eyes on quantum computing, another cutting-edge technology.

A fundamentally new kind of computing will shake up finance—the question is when.

Finance & economics Dec 19th 2020 edition.

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Dec 19, 2020

New law will legalize digital yuan

Posted by in categories: cryptocurrencies, finance, law

Seventeen years after the second amendment of the Law of the People’s Republic of China on the People’s Bank of China was approved, public comments are being taken on a new draft version that was proposed on Friday.

Analysts said that the new draft, if passed, will help reduce financial risks by giving the central bank a larger role in the use of a digital currency. It will also address money laundering, reduce costs and win China more financial status in the world.

The draft law addresses for the first time the central bank’s determination to reduce systemic financial risks and legalize the digital yuan. Experts said this measure will have great importance for the development of China’s financial system.

Dec 17, 2020

Major Computing Breakthrough: Copenhagen Researchers Can Now Achieve “Quantum Advantage”

Posted by in categories: computing, finance, quantum physics

University of Copenhagen researchers have advanced their quantum technology to such a degree that classical computing technology can no longer keep up. They have developed a chip that, with financial backing, could be scaled up and used to build the quantum simulator of the future. Their results are now published in Science Advances.

First came Google. Now, researchers at the University of Copenhagen’s Niels Bohr Institute in collaboration with University of Bochum have joined Google in the race to build the world’s first quantum computer with what they are calling a “major breakthrough.”

“We now possess the tool that makes it possible to build a quantum simulator that can outperform a classical computer. This is a major breakthrough and the first step into uncharted territory in the world of quantum physics,” asserts Professor Peter Lodahl, Director of the Center for Hybrid Quantum Networks (Hy-Q).

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Dec 7, 2020

Artificial intelligence is not about hype, it will not ‘fade away’ over time — Putin

Posted by in categories: finance, robotics/AI

“We are allocating serious resources, both financial and administrative ones, on creation and development of technologies. It is not about spending these funds, purchasing high-status gadgets and other household appliances. Artificial intelligence is not about a so-called fashion hype or a prestigious trend, that will fade away, vanish tomorrow or the day after tomorrow. No, this will not happen,” the president noted.

He recalled that “global history knows many cases when large, global corporations and even countries literally slept through a technological breakthrough and were swept off the historical stage overnight.”

“We must remember this. I want my colleagues in ministries, departments, regions of the Russian Federation, in state companies, research centers and universities to hear me now: we have to tackle issues of a fundamentally new level of complexity,” the head of state said.

Dec 7, 2020

How banks use AI to catch criminals and detect bias

Posted by in categories: finance, information science, robotics/AI, terrorism

Imagine an algorithm that reviews thousands of financial transactions every second and flags the fraudulent ones. This is something that has become possible thanks to advances in artificial intelligence in recent years, and it is a very attractive value proposition for banks that are flooded with huge amounts of daily transactions and a growing challenge of fighting financial crime, money laundering, financing of terrorism, and corruption.

The benefits of artificial intelligence, however, are not completely free. Companies that use AI to detect and prevent crime also deal with new challenges, such as algorithmic bias, a problem that happens when an AI algorithm causes systemic disadvantage for a group of a specific gender, ethnicity, or religion. In past years, algorithmic bias that hasn’t been well-controlled has damaged the reputation of the companies using it. It’s incredibly important to always be alert to the existence of such bias.

For instance, in 2019, the algorithm running Apple’s credit card was found to be biased against women, which caused a PR backlash against the company. In 2018, Amazon had to shut down an AI-powered hiring tool that also showed bias against women.

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Dec 5, 2020

Luminar’s 25-year-old founder Austin Russell becomes billionaire after IPO

Posted by in categories: finance, robotics/AI, transportation

The founder of a startup that helps cars drive themselves just became a billionaire — and he’s barely old enough to rent a car on his own.

Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company’s stock market debut this week. The Florida-based firm — which he founded when he was just 17 — makes so-called lidar scanners that use lasers to give autonomous cars a three-dimensional view of the road and what’s around them.

Luminar’s share price surged nearly 28 percent on its Thursday debut to close at $22.98, giving the company a market value of about $7.8 billion, the Wall Street Journal reported.

Dec 4, 2020

AI’s next act: Genius chips, programmable silicon and the future of computing

Posted by in categories: finance, mobile phones, robotics/AI

It’s my firm belief that the AI revolution we’ve all been so excited about simply has not happened yet. In the next two to three years however, as the hardware that enables “real” AI power makes its way into more and more hands, it will happen. As far as predicting the change and disruption that will come from widespread access to the upper echelons of powerful ML and AI — there are few ways to make confident predictions, but that is exactly the point!

Much like cellphones put so much power in the hands of regular people everywhere, with no barriers to entry either technical or financial (for the most part), so will the coming wave of software-defined hardware that is flexible, customizable and future-proof. The possibilities are truly endless, and it will mark an important turning point in technology. The ripple effects of AI democratization and commoditization will not stop with just technology companies, and so even more fields stand to be blown open as advanced, high-powered AI becomes accessible and affordable.

Much of the hype around AI — all the disruption it was supposed to bring and the leaps it was supposed to fuel — will begin in earnest in the next few years. The technology that will power it is being built as we speak or soon to be in the hands of the many people in the many industries who will use their newfound access as a springboard to some truly amazing advances. We’re especially excited to be a part of this future, and look forward to all the progress it will bring.

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Dec 4, 2020

U.S. banks handled trillions of dollars in “suspicious” transactions, report says

Posted by in categories: finance, government, terrorism

A congressional investigation into the 2016 U.S. presidential election has unearthed evidence that major banks processed $2 trillion in transactions despite suspecting they were connected to illegal activity.

So-called suspicious activity reports, filed by banks with government regulators, indicate the banks were concerned the transactions would help suspected terrorists, drug dealers, corrupt foreign officials and other bad actors move trillions of dollars around the world, as well as perpetuate investment frauds. The private reports, which covered 1999 through 2017, were obtained by BuzzFeed News and shared with the nonprofit International Consortium of Investigative Journalists.

The two organizations published their investigations into the documents over the weekend, but did not publish the complete reports. Both also declined to make public most of the information contained in the reports, including the customers who the banks suspected of illegal activity.

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