MediaFile

from Ask...:

How should we respond to the “enormous” cyber attacks?

Security company McAfee uncovered a series of attacks on the networks of 72 organizations including the U.N., governments and companies around the world and said there was one "state actor" behind them.

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Tech wrap: Microsoft’s Office shines, Windows lacks luster

Microsoft reported a greater-than-expected 30 percent increase in fiscal fourth-quarter profit, helped by sales of its Office software, but profit from its core Windows product fell on soft PC sales. Microsoft posted net profit of $5.87 billion, or 69 cents per share, compared with $4.52 billion, or 51 cents per share, in the year-ago quarter. That easily beat Wall Street’s average estimate of 58 cents, according to Thomson Reuters I/B/E/S.

“These are great results given a slower PC environment and it highlights how the company has multiple revenue streams. The $17 billion unearned revenue, which is a forward indicator of business, shows they signed a lot of deals this quarter,” said BGC Financial analyst Colin Gillis.

AT&T posted better-than-expected subscriber growth for the second quarter, pushing its profits and sales past Wall Street estimates despite the loss of exclusive U.S. rights to sell the Apple iPhone.

Tech wrap: Google probed

U.S. antitrust regulators started a formal investigation into whether Google abuses its market power by favoring its own services over those of rivals in online searches and through other practices. The company has been accused of anticompetitive practices by other companies doing business online. “It’s still unclear exactly what the FTC’s concerns are, but we’re clear about where we stand,” Google said on its official blog. “Since the beginning, we have been guided by the idea that if we focus on the user all else will follow.”

“Typically less than one out of every 10 investigations lead to enforcement. This investigation faces daunting odds,” said David Balto, a former FTC policy director.”The complaints presented to the FTC are from disgruntled advertisers, not consumers. That is not a strong foundation to an antitrust case.”

Private equity firms KKR and Silver Lake are in talks to buy Internet domain site GoDaddy.com and a deal could be more than $2 billion, two sources familiar with the matter said.

Tech wrap: LulzSec hackers seek greener pastures

The LulzSec group of rogue hackers threatened to steal classified information from governments, banks and other high-ranking establishments, teaming up with the Anonymous hacker activist group to cause more serious trouble in an escalation of their cyber attacks.

LulzSec had said last Friday that it hacks to have fun and to warn people that personal information is not safe in the hands of Internet companies. But two days later, Lulz said its top priority was to leak “classified government information, including email spools and documentation.”

The FBI said it is working to bulk up its cyber division as hackers focus on higher-profile targets, but is at the mercy of a Congress struggling to cut the massive budget deficit.

Social media and the Vancouver riots

Vancouver police arrested almost 100 people after a riot broke out Wednesday, and are looking to lock up more, with the help of YouTube.

The website of the Vancouver Police Department prominently features a special “Hockey Riot 2011″ section where visitors can watch and read a statement by Chief Constable Jim Chu.

Constable Chu has promised to “bring all our resources to bear,” committing “the full weight of the Criminal Justice System [sic] in swiftly apprehending those responsible.”

Tech wrap: Spain makes Sony attack arrests

Spanish police arrested three men suspected to be members of the hacker group Anonymous, charging them with organizing cyber attacks against the websites of Sony, Spanish banks BBVA and Bankia, and Italian energy group Enel SpA– but not the recent massive hacking of PlayStation gamers. Anonymous responded by threatening to retaliate for the arrests: “We are Legion, so EXPECT US,” the group said on its official Twitter feed.

EU countries agreed on tougher sanctions against people conducting cyber attacks. Under the new rules, which have to be agreed by the European Parliament, hackers would face a sentence of at least five years if found guilty of causing serious damage to IT systems.

Nokia was expected to report a loss for this quarter and next as it cuts prices to try to prevent more customers defecting to rivals’ smartphones, a Reuters poll found. Analysts also forecast a meager profit in the normally buoyant fourth quarter, as the once-undisputed leader in mobile phones loses the initiative to smartphones like Apple’s iPhone and devices based on Google’s Android software.

Tech wrap: Myspace sale saga nears end

An investor group involving Activision Blizzard CEO Bobby Kotick is in final talks to take a controlling stake in News Corp’s social network site Myspace, according to a source familiar with the matter. Kotick’s involvement is personal and nothing to do with Activision at this stage, the source said.

News Corp, which paid $580 million for Myspace in 2005, had hoped to do a deal valuing Myspace at about $100 million, but sources said it was unlikely to achieve that target.

Major U.S. banks came under growing pressure from banking regulators to improve the security of customer account information after Citigroup became the latest high-profile victim of a large-scale cyber attack. While Citigroup insisted the breach had been limited, experts called it the largest direct attack on a major U.S. financial institution, and forecast it could drive momentum for a systemic overhaul of the banking industry’s data security measures.

Tech wrap: Apple “spaceship” to tackle “weed” problem

Apple plans to build a circular “spaceship” building in hometown Cupertino — and be the best office building in the world, CEO Steve Jobs said. The ailing Jobs, formally on leave from the company, made his second public appearance in two days late on Tuesday to show off plans to the Cupertino city council. Apple has grown “like a weed” Jobs said, and needs a place to put roughly 12,000 people. The massive new structure would be in addition to the main campus at 1 Infinite Loop.

Facebook is providing European regulators with information about its use of facial recognition technology, in response to concerns about the company’s roll-out of the technology’s availability outside of the U.S.. Facebook said there was no “formal investigation” under way. The move comes after comments by Gerard Lommel, a Luxembourg member of the so-called Article 29 Data Protection Working Party, who said the group would study Facebook’s use of facial recognition technology for possible rules violations, according to a report in Bloomberg earlier on Wednesday.

EBay is hunting for acquisitions to speed up its development of image recognition and augmented reality features as the online retailer and auctioneer seeks to capitalize on the potential of mobile phones to help consumers make impulse purchases. Steve Yankovich, head of eBay mobile, told Reuters his division had the company’s full support to spend money on innovative technology, as the fastest growing part of eBay which is helping to renew the 15-year-old company’s image.

Tech wrap: Nintendo debuts Wii U

Nintendo took the wraps off a high-definition version of its hit Wii, with a 6.2-inch touchscreen-equipped controller that the leading videogame hardware maker hopes will appeal to a more hardcore audience. Early reviews of the Wii U were mixed, with analysts saying the device stopped short of being game-changing. But some liked the innovation in the controller, a device slightly larger than Apple’s iPhone and whose touchscreen, video-call capability and extra functions may appeal to gamers who play longer and more intensely.

The new device will go on sale between April and December 2012, the company told reporters in LA without saying how much it would cost.

Data storage firm EMC offered to replace millions of potentially compromised “SecurID” electronic keys after hackers used data stolen from its RSA security division to break into Lockheed Martin’s network. RSA, which makes the SecurID keys, said in a letter published on its website that it had confirmed information taken from it in March was used in the attack on Lockheed Martin.

Tech wrap: Steve Jobs pitches Apple’s iCloud

Apple CEO Steve Jobs emerged from medical leave to launch an Internet-based service for consumers called the iCloud, which lets users play their music and get access to their data from any Apple device. Jobs walked briskly onstage after James Brown’s “I Got You (I Feel Good)” blasted over the sound system, but shared the spotlight with other Apple execs who showcased Apple’s enhancements to its PC operating system and mobile platform.

Jobs laid out his vision for the iCloud with the elminiation of MobileMe, a subscription-based collection of online services and software. Jobs said the iCloud will allow people to share book purchases, music and data in general, such as calendar items, across different devices, while backing up and updating information regularly.

Among the new features for Apple’s OS X Lion operating software were an improved email infrastructure and multi-touch features. Early impressions by experts watching the presentations were favorable.