Business

  • One false tweet sent financial markets into a tailspin

    A false tweet from a hacked account owned by the Associated Press (AP) in 2013 sent financial markets into a tailspin. The Dow Jones Industrial Average dropped 143.5 points and the Standard & Poor’s 500 Index lost more than $136 billion of its value in the seconds that immediately followed the post. Once the nature of the tweet was discovered, the markets corrected themselves almost as quickly as they were skewed by the bogus information, but the event, known as Hack Crash, demonstrates the need better to understand how social media data is linked to decision making in the private and public sector.

  • New state-of-the-art inspection facility for Port of Boston

    Passport Systems has started construction on a non-intrusive cargo inspection facility at the Massachusetts Port Authority (Massport), Port of Boston, Conley Container Terminal in South Boston. The facility aims to increase the effectiveness and efficiency of cargo screening at the Port. The facility will use a 3D automated cargo inspection system hat can detect, locate, and identify contraband at ports and border crossings as well as automatically clear or confirm alarms. 

  • How best to adapt to the U.S. water shortage?

    The water crisis in the western United States — most notably in California and Washington — may be the most severe and most publicized, but other threats to the nation’s water supply loom, says a water expert. “We have settled in places and undertaken industrial and agricultural activities largely based on water availability,” he says. “When that availability changes, we must adapt. If the change is rather rapid, we often face a crisis.”

  • Airlines ban shipments of lithium-ion batteries following cargo fires

    Rechargeable lithium-ion batteries may soon have to be imported by other means than air shipments after at least eighteen airlines have banned shipments of the product this year following devastating cargo fires such as the one that caused a United Parcel Service (UPS) freighter to crash near Dubai in 2010. Roughly 30 percent of the 5.5 billion cell batteries produced each year are shipped by plane.

  • Sandia Lab helps small security company thwart thieves

    Sandia has a long history, dating back to the 1970s, of testing sensor and video technologies for physical security systems, so in response to the security needs of a New Mexico security company, Sandia and Los Alamos labs researchers worked together to configure and test a reliable, affordable outdoor security system that helped the company more than triple its staff and clientele over five years.

  • Ongoing attack against oil tankers aims to defraud oil brokers

    A new report details a malicious and largely unknown targeted attack on oil tankers. First discovered in January 2014, the ongoing attack on oil cargos began in August 2013, and is designed to steal information and credentials for defrauding oil brokers. Despite having been compromised by this cyber-attack, which has been dubbed the “Phantom Menace,” none of the dozens of affected companies have been willing to report the invasion and risk global attention for vulnerabilities in their IT security networks.

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  • DHS S&T awards $834 million contract for construction of Manhattan, Kansas biolab

    DHS Science and Technology Directorate (S&T) yesterday announced the award of a contract for the final phase of construction of the National Bio and Agro-Defense Facility (NBAF) being constructed in Manhattan, Kansas. The $834 million award by S&T’s procurement support partner, the Federal Law Enforcement Training Centers (FLETC), modifies the existing contract for McCarthy Mortensen NBAF Joint Venture, which was selected in 2009.

  • U.S. West's power grid must be “climate-proofed” to lessen risks of power disruption

    Electricity generation and distribution infrastructure in the Western United States must be “climate-proofed” to diminish the risk of future power shortages, according to researchers. Expected increases in extreme heat and drought events will bring changes in precipitation, air and water temperatures, air density, and humidity. the changing conditions could significantly constrain the energy-generation capacity of power plants — unless steps are taken to upgrade systems and technologies to withstand the effects of a generally hotter and drier climate.

  • Pentagon to invest in Silicon Valley tech startups to help develop advanced cyber solutions

    The Pentagon will begin to invest in Silicon Valley tech startups as part of the department’s plan to develop and acquire more advanced cyber solutions to secure the country and military’s digital infrastructure. The investments will be made through In-Q-Tel, a nonprofit strategic investing firm the Central Intelligence Agency launched sixteen years ago. In-Q-Tel does not invest in companies alone, but rather relies on traditional venture firms to partner and contribute the lion’s share of the funding, so having them on board is critical for the program’s success.

  • New oil trains safety rules short on preparedness, training regs: Critics

    New federal safety measures for oil trains announced earlier this month are being criticized by emergency responders who say the measures fail to address the issue of preparedness.The new rules, which go into effect next year, do not require railroads to notify state officials of Bakken crude oil shipments, and fire departments seeking that information will have to contact the railroads directly. Firefighter groups say 65 percent of fire departments involved in responding to hazardous materials incidents still have no formal training in that area.

  • U.K. high-tech industry wants more skilled immigrants to be allowed into Britain

    The British tech industry is pushing for immigration reform that will help startups reach up to 500 million European Union customers and allow U.K. firms to attract a global talent pool. The tech industry is worth £100 billion to the U.K. economy, but companies are increasingly unable to find sufficient talent to fill vacancies.To help tackle the skills gap, British officials are investing in STEM education with the introduction of a new computing curriculum to schools and a pledge to train 17,500 math and physics teachers in the next five years, but industry insidersstress that immigration must be addressed if the U.K. tech and start-up scene is ever going to develop a firm the size of Google or Facebook.

  • More assessment of dispersants used in response to oil spills needed

    Chemical dispersants are widely used in emergency responses to oil spills in marine environments as a means of stimulating microbial degradation of oil. After the Deepwater Horizon spill in 2010, dispersants were applied to the sea surface and deep waters of the Gulf of Mexico, the latter of which was unprecedented. S new study argues for further in-depth assessments of the impacts of dispersants on microorganisms to guide their use in response to future oil spills.

  • Invisible inks to help foil counterfeiters

    Counterfeiting is very big business worldwide, with $650 billion per year lost globally, according to the International Chamber of Commerce. Scientists have invented sophisticated fluorescent inks that one day could be used as multicolored barcodes for consumers to authenticate products that are often counterfeited. Snap a photo with your smartphone, and it will tell you if the item is real and worth your money.

  • More proof needed that PG&E’s Diablo Canyon nuclear plant is safe from earthquakes: NRC

    Despite repeated assertions by Pacific Gas & Electric Co. that the Diablo Canyon nuclear plant is safe from earthquakes, the U.S. Nuclear Regulatory Commission (NRC) has ordered PG&E to provide more proof. Critics of the plant’s continuing operation say the order confirms concerns that faults surrounding Diablo Canyon are capable of more ground motion than the reactors were built to withstand and that the plant is in violation of its operating license and should be closed immediately.

  • FEMA considering overhauling the National Flood Insurance Program

    Federal legislators and officials with the Federal Emergency Management Agency (FEMA) are trying to overhaul the National Flood Insurance Program which relies on eighty-three companies to sell policies, collection premiums, and calculate damages after disasters. The program covers roughly 5.2 million homes and businesses nationwide. The move comes just as FEMA is in talks to settle almost 1,800 lawsuits filed by homeowners claiming they were underpaid on flood insurance claims after Superstorm Sandy. The flood insurance program was launched in 1968 after private insurers increased their coverage prices due to newer risk assessments, leaving most homeowners unable to afford them.