Submission + - AI push is putting banks at mercy of tech firms, warns Moody's (theguardian.com)

Submitted by Alain Williams
Alain Williams writes: The rating agency Moody’s has said the race to adopt AI is putting big banks at the mercy of a small group of Silicon Valley firms, leaving them vulnerable to widespread outages and price gouging by profit-hungry tech bosses.

The financial sector’s efforts to integrate AI into day-to-day operations will eventually cut costs and increase revenues across the City and Wall Street, Moody’s said.

But that will require “substantial investments”, and with so many rivals racing towards the same goal, many of those benefits will end up being “competed away”.

AI will also create bigger risks around data privacy, cybersecurity, fraud and so-called “deposit flight”, as well as an overdependence on a small number of tech firms, the rating agency warned.

Submission + - China-free batteries made from salt are finally here (msn.com)

Submitted by fjo3
fjo3 writes: U.S. startups are finally delivering something researchers have been working on for decades: a battery in which rare, hard-to-get elements are replaced with the same stuff found in ordinary table salt.

This tech has the potential to help every country on earth break its dependence on China for batteries, and the critical minerals that go into them.

Like any other battery, sodium-ion cells can store and release energy. They are initially being deployed where they’re needed most, in America’s power grid and fast-expanding crop of data centers. As in our homes, giving the grid or other infrastructure the ability to stockpile energy when it is cheap and plentiful, and discharge it when it is scarce, can increase reliability and lower the cost of electricity.

Submission + - FCC Kills TV Ownership Cap, Claiming Authority Over Limit Set By Congress (arstechnica.com)

Submitted by Anonymous Coward
An anonymous reader writes: The Federal Communications Commission voted 2–1 today to eliminate the National Television Ownership Rule, claiming authority to repeal a limit that was set by Congress over 20 years ago. The rule prohibits any single broadcast station owner from reaching more than 39 percent of all TV households in the US. Under Chairman Brendan Carr, the FCC is replacing the rule with a “case-by-case review” of each proposed merger.

“This will empower the FCC to approve deals that promote the public interest while allowing the agency to reject any deals that do not meet that standard,” Carr’s office said in a press release today. Without the 39 percent rule, broadcasters will be better able to compete against streaming companies that don’t face similar limits, Carr’s office said.

The change, if not stopped by courts, will make it easier for Carr to allow broadcast mergers that result in more favorable news coverage for President Trump. Carr has consistently threatened to revoke licenses from broadcasters who have drawn Trump’s ire, including by ordering an early license review of all ABC-owned stations. Carr said local broadcast TV stations are becoming “undifferentiated passthroughs of national programming produced in Hollywood and New York,” and he justified repealing the ownership rule by arguing it will help the stations invest in local news.

Submission + - Meta AI Hacked External Systems During Cybersecurity Testing (securityweek.com)

Submitted by wiredmikey
wiredmikey writes: Meta is the latest major AI developer to admit that its models broke loose during cybersecurity testing and hacked external systems. The tech giant said in a statement to the media on Wednesday that the incident occurred during independent evaluations conducted by Israeli AI security startup Irregular.

Submission + - Senators Demand Crackdown On Wildfire 'Prediction Markets' (arstechnica.com)

Submitted by Anonymous Coward
An anonymous reader writes: Several US senators have written a letter to the Commodity Futures Trading Commission (CFTC), inquiring about the agency’s “plans to crack down on prediction markets” that offer “contracts for individuals to bet on wildfires." “Offering bets on destructive wildfires threatens to minimize communities’ suffering, all so the rich and powerful can profit,” wrote (PDF) the group of senators, who represent Oregon, California, Nevada, Minnesota, and New Hampshire. The document specifically cites that Polymarket hosted bets in January 2025 on the wildfires in Los Angeles, and it mentions another website which specifically accepts “simulated bets” exclusively on California wildfires.

“There’s also the heightened risk—according to state and local fire officials—that individuals could be tempted to commit arson in order to make sure their bets are successful,” the letter continues. “By offering contracts on fires, prediction market sites run the risk of encouraging people to influence fires that have already started, creating additional concerns around public safety and insider trading.” [...] Kalshi is one of the major prediction markets. Kalshi spokesperson Elisabeth Diana told Ars by email that the company does not allow such wildfire markets “because they create perverse incentives.” But its primary rival, Polymarket, has taken a different approach. A spokesperson for Polymarket told Ars in an emailed statement that the company does not “profit from outcomes,” adding that people “come to Polymarket for information.” “While we are not blind to the risks, removing these markets does not prevent a tragedy but makes the most accurate information less accessible to the people who need it most,” he wrote.

Submission + - Apple Launches Legal Challenge Against UK Government Demand to Access Data (theguardian.com)

Submitted by Anonymous Coward
An anonymous reader writes: Apple has launched a new legal challenge against a UK government demand to access its customers’ highly encrypted data, a year after the Home Office agreed to abandon its previous request. The US tech company launched the legal complaint last month at the Investigatory Powers Tribunal (IPT), an independent court that has the power to investigate claims that the UK intelligence services have acted unlawfully. The UK government had made a second request to Apple to grant it a “back door” to encrypted iCloud data belonging to British users, according to an order issued by the court.

Britain backed down on its original demand for access to data from UK and US customers last year, after a heated transatlantic tussle over encryption between London and Washington. UK authorities subsequently issued a new “technical capability notice” (TCN) to Apple that did not apply to American users. Apple is seeking to challenge the British government’s powers to issue TCNs under the UK Investigatory Powers Act, according to the details of the new legal case first reported by the Financial Times. [...] The original TCN issued last year asked Apple for the right to see users’ encrypted data protected by its advanced data protection (ADP) program in the event of a national security risk.

Apple said the removal of the tool – which not even it can access – would make users more vulnerable to data breaches from bad actors and other threats to customer privacy. Creating a “back door” would also mean all data was accessible by Apple, which it could be forced to share with law enforcement possessing a warrant. As a result, Apple withdrew UK customers’ access to its ADP program in January 2025. The Home Office has maintained that the Investigatory Powers Act, under which such orders are issued, contains robust safeguards and is used only when absolutely necessary.

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