Sunday☕️

Trending:
- CENTCOM Activity
- Iraq Government Contracts
Week Recap:
- Dropbox reported a security breach involving its Dropbox Sign eSignature platform (formerly known as HelloSign), which occurred when hackers infiltrated its production systems. Detected on April 24, the breach allowed unauthorized access to a variety of sensitive data including authentication tokens, multi-factor authentication (MFA) keys, hashed passwords, and customer information such as emails, usernames, and phone numbers. The hackers were able to breach Dropbox Sign’s systems by gaining access to an automated system configuration tool used within the platform’s backend services.
- Tesla fired its entire Supercharger team, leading to significant disruptions in its charging infrastructure plans, including halting new Supercharger installations. This decision was communicated through an email to suppliers, which has since been leaked, revealing the challenges following the dismissals. The email outlines Tesla's immediate halts in new construction and payment delays, raising concerns among suppliers and contractors.
- On May 6th, a partnership was announced between Stack Overflow and OpenAI. Stack Overflow, renowned for its vast repository of coding knowledge and community-driven support, and OpenAI, known for its advanced artificial intelligence models like ChatGPT, have come together to create OverflowAPI. This collaboration aims to integrate Stack Overflow's extensive database of technical content directly into OpenAI's artificial intelligence systems. The goal is to improve the accuracy and functionality of OpenAI’s AI by providing it with access to a trusted source of programming data and solutions, all vetted by millions of developers that constitute Stack Overflow's community.
- Palantir Technologies delivered strong financial results for the first quarter quarter. The company, which specializes in data analytics software, has been expanding its reach, particularly among U.S. commercial customers. For this quarter, Palantir reported revenue of $634 million, a 21% increase from the previous year and surpassing both the company's guidance range of $612 million to $616 million and the Wall Street consensus estimate of $615 million. Palantir develops software that governments and companies use for data integration, big data analysis, and information management, which are critical for making informed decisions and improving operational efficiencies.
- The UK Government recently confirmed a significant cyberattack at the Ministry of Defence (MoD), specifically targeting a part of the Armed Forces payment network. Defence Secretary Grant Shapps reported to the House of Commons that the intrusion was identified a few days ago and involved unauthorized access to a system containing sensitive payroll data for active and reserve personnel, as well as some recently retired veterans. Despite the breach, Shapps reassured that all payments for April, including salaries, expense reimbursements, and veterans' pensions, were not impacted and have been successfully processed.
- FTX, once a prominent cryptocurrency exchange, faced a collapse leading to bankruptcy filings in November 2022. Initially, it was feared that most of the customer and investor funds managed by FTX had vanished, especially given disclosures that the exchange held only a fraction of the Bitcoin and Ethereum that customers believed were in their accounts. According to documents filed with the Delaware bankruptcy court, FTX's compensation plan would compensate a staggering 98% of creditors with 118% of their claims in cash, with the expectation that these payments would be made within 60 days of court approval. Additionally, other non-governmental creditors are expected to receive 100% of their claims, plus up to 9% interest to acknowledge the time value of their investments.
- Google's DeepMind has unveiled AlphaFold 3, the latest iteration of its AI model, now capable of predicting the structure of not only proteins but also all biomolecules, including DNA, RNA, and ligands. This advancement significantly broadens the model's applications, making it a pivotal tool in fields such as medicine, drug development, agriculture, and materials science. Compared to its predecessor, AlphaFold 3 offers a 50% increase in prediction accuracy, a development that DeepMind CEO Demis Hassabis describes as a major step forward in using AI to explore biological complexities. AlphaFold 3 incorporates an extensive library of molecular structures, which researchers can use to simulate and visualize how various molecules might interact in three dimensions.
- Nearly a year after the initial breach, the University System of Georgia (USG) has confirmed an attack on its systems that compromised the personal data of 800,000 individuals. This disclosure was made public for the first time when USG filed a report with the Attorney General of Maine this past Tuesday, detailing the breach first detected on May 31, 2023. The breach involved sensitive data such as full Social Security numbers, bank account details, and federal income tax documents. The breach was linked to the exploitation of a previously identified vulnerability in Progress Software’s MOVEit MFT tool by the Cl0p cybercriminal group. USG responded to the incident by immediately blocking the affected MOVEit Transfer software, updating and securing the system in line with recommendations from Progress Software and the Cybersecurity and Infrastructure Security Agency (CISA).
- Microsoft has been working towards launching its own Xbox mobile gaming store, set to debut this July. Xbox president Sarah Bond discussed these plans at the Bloomberg Technology Summit, highlighting that the store will initially be web-based. This approach allows Microsoft to circumvent the app store regulations of companies like Apple and ensure accessibility across all devices and countries. The store will feature popular Microsoft titles such as Candy Crush and Minecraft, starting with the company's first-party games portfolio.
CENTCOM Activity:
- U.S. Central Command (CENTCOM) announced recent military engagements and high-level diplomatic activities across its area of responsibility. On the evening of May 10th, around 8:45 p.m. Sanaa time, an uncrewed aerial system (UAS) launched by Iranian-backed Houthis from Yemen was intercepted over the Gulf of Aden by coalition aircraft, with no reported injuries or damages to U.S., coalition, or merchant vessels. The following morning, between 4:30 a.m. and 4:45 a.m., CENTCOM forces successfully engaged and destroyed three additional UASs launched by the Houthis over the Red Sea, addressing the immediate threat these posed to both coalition forces and commercial shipping in the region, thereby ensuring the safety of international waters.
- In addition to these military actions, CENTCOM reported on the diplomatic efforts of Gen. Michael Erik Kurilla, the commander of U.S. Central Command, during his visits to Saudi Arabia and Pakistan. From May 9-10, Gen. Kurilla met with leaders of the Saudi Royal Armed Forces in Saudi Arabia to discuss regional security issues, the status of humanitarian efforts into Gaza, and cooperation on developing defensive technologies. He also engaged with U.S. Ambassadors Michael Ratney and Steven Fagin to further address the security challenges stemming from Houthi activities in the Red Sea and Gulf of Aden.
- Gen. Kurilla's visit to Pakistan from May 7-9 included strategic meetings with Gen. Syed Asim Munir, Pakistan's Chief of Army Staff, and other senior military officials, focusing on counterterrorism efforts and the military partnership between the U.S. and Pakistan. This visit highlighted the recent Inspired Union 2024 naval exercise and discussed future collaborative security initiatives. Gen. Kurilla also traveled to military installations in the Khyber Pakhtunkhwa Province to review and discuss ongoing counterterrorism operations along the Afghan border with Pakistan's 11th Corps, Frontier Corps, and 7th Division leaders.
Iraq Government Contracts:
- During the latest energy bidding rounds in Baghdad that began on Saturday, Chinese companies significantly dominated the scene, securing most of the oil and gas deals offered. The Iraqi government made 29 oil and gas projects available, continuing from the fifth bidding round in 2018, where 16 fields and exploration blocks were initially presented. This round saw eight of the projects auctioned on Saturday, with Chinese firms winning five of them, highlighting their prominent role in Iraq's expanding energy sector.
- Notably, the Zhongman Petroleum and Natural Gas Group (ZPEC) secured rights to develop the Northern Extension of East Baghdad oil field, accepting a 6.67% share of the profit, less than the competing bid from Iraq's KAR company. ZPEC also gained control of the Middle Euphrates fields by offering a higher share of net profit initially and later aligning with the ministry's lower rate. Other Chinese entities like UEG and Zhenhua also secured deals, emphasizing their growing influence in Iraq's oil-rich regions. These contracts come with terms ranging from development and production contracts of 20 years with possible extensions, to more explorative contracts providing for up to nine years of exploration.
- Iraq’s energy strategy, bolstered by these contracts, is part of a broader national goal to increase its oil and gas reserves and production capabilities. The country's Prime Minister and Oil Minister expressed commitments to enhancing operational conditions and bureaucratic efficiency to attract further international investments. These developments are part of Iraq's long-term plan to elevate its oil production and reduce reliance on imported energy resources, marking significant progress since major international oil companies began investing in 2009. As a result, Iraq continues to advance its status as a player in the global oil market, further supported by significant contracts like the $27 billion agreement with French TotalEnergies, aiming to develop not just oil and gas but also renewable resources.
Statistic:
- Unemployment rates by country:
- 🇿🇦 South Africa: 32.1%
- 🇪🇸 Spain: 12.29%
- 🇹🇷 Turkey: 8.6%
- 🇧🇷 Brazil: 7.9%
- 🇮🇳 India: 7.64%
- 🇫🇷 France: 7.5%
- 🇮🇹 Italy: 7.2%
- 🇨🇦 Canada: 6.1%
- 🇩🇪 Germany: 5.9%
- 🇦🇷 Argentina: 5.7%
- 🇨🇳 China: 5.2%
- 🇮🇩 Indonesia: 4.82%
- 🇸🇦 Saudi Arabia: 4.4%
- 🇬🇧 UK: 4.2%
- 🇺🇸 US: 3.9%
- 🇦🇺 Australia: 3.8%
- 🇳🇱 Netherlands: 3.6%
- 🇰🇷 South Korea: 2.8%
- 🇷🇺 Russia: 2.7%
- 🇯🇵 Japan: 2.6%
- 🇲🇽 Mexico: 2.3%
- 🇨🇭 Switzerland: 2.3%
- 🇸🇬 Singapore: 2.1%
Article Links:



Thanks for reading!
TIME IS MONEY: Your Free Daily Scoop of Markets📈, Business💼, Tech📲🚀, and Global 🌎 News.
The news you need, the time you want.

Support/Suggestions Emails:
timeismoney@timeismon.news