Lift Debt Limit Before Recess, Mnuchin Urges Congress

U.S. Treasury Secretary Steven Mnuchin on Wednesday urged federal lawmakers to raise the federal debt limit before they leave Washington for their August recess to avoid increased interest costs to taxpayers and market uncertainty about a potential default. Mnuchin told a Senate Appropriations subcommittee that maintaining U.S. creditworthiness was of “utmost importance” and that the United States must pay its bills on time. “As I’ve suggested in the past, based…

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Hacker Summit Puts New Focus on Preventing Brazen Attacks

Against a backdrop of cyberattacks that have grown into full-fledged sabotage, Facebook chief security officer Alex Stamos is bringing a new message to hackers and security experts at the Black Hat conference. In short: It’s time for hackers once known for relatively harmless mischief to shoulder responsibility for helping detect and prevent major attacks. The Black Hat security gathering, starting Wednesday in Las Vegas, follows a series of attacks and…

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Invitation: Trump to Announce Foxconn Plant in Wisconsin

President Donald Trump plans to announce Wednesday that electronics giant Foxconn will build a liquid crystal display panel plant in Wisconsin, according to an invitation to the event obtained by The Associated Press. The AP obtained the invitation from a person with knowledge of the afternoon gathering at the White House, but the person wasn’t authorized to publicly release the information. Wisconsin Gov. Scott Walker tweeted earlier Wednesday that Trump…

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Facebook Funds Harvard Effort to Fight Election Hacking, Propaganda

Facebook Inc (FB.O) will provide initial funding for a nonprofit organization that aims to help protect political parties, voting systems and information providers from hackers and propaganda attacks, the world’s largest social network said on Wednesday. The initiative, dubbed Defending Digital Democracy, is led by the former campaign chairs for Democrat Hillary Clinton and Republican Mitt Romney, and will initially be based at Harvard University’s Kennedy School of Government, which…

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EU Warns US it May Respond Swiftly to Counter New Sanctions on Russia

The European Union warned on Wednesday that it was ready to act within days to counter proposed new U.S. sanctions on Russia, saying they would harm the bloc’s energy security. Sanctions legislation overwhelmingly approved by the U.S. House of Representatives on Tuesday has angered EU officials: they see it as breaking transatlantic unity in the West’s response to Moscow’s annexation of Crimea from Ukraine in 2014 and its support for…

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Amazon Goes on Hiring Spree as Labor Market Tightens

 Amazon has some job openings. Lots of them. The company said Wednesday that it’s looking to fill more than 50,000 positions across the U.S.   It’s planning to make thousands of offers on the spot on Aug. 2, when it opens the doors to potential hires at 10 Amazon.com Inc. shipping sites.   There will be more than 10,000 part-time jobs available at sorting centers, and some supporting and managerial…

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Luxury Firms’ Online Battle Boosted by EU Court Adviser’s Coty Stance

A decade-long battle by luxury brands to defend their image neared an end on Wednesday when an adviser to Europe’s top court said Coty can block a German retailer from selling its beauty products via online marketplaces. “A supplier of luxury goods may prohibit its authorized retailers from selling its products on third-party platforms such as Amazon or eBay,” Advocate General Nils Wahl at the European Union’s Court of Justice…

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Twitter No Longer at ‘Death’s Door’ as Earnings Report Approaches

Twitter Inc heads toward its quarterly earnings report on Thursday with a stock that has risen more than 40 percent since April when much of Wall Street was ready to write off the tech company.   The company’s share price popped after its most recent earnings report in April, when Twitter disclosed better-than-expected user growth. The number of people on Twitter will be in sharp focus on Thursday, when investors…

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US Treads Water on Cyber Policy as Destructive Attacks Mount

The Trump administration’s refusal to publicly accuse Russia and others in a wave of politically motivated hacking attacks is creating a policy vacuum that security experts fear will encourage more cyber warfare. In the past three months, hackers broke into official websites in Qatar, helping to create a regional crisis; suspected North Korean-backed hackers closed down British hospitals with ransomware; and a cyber attack that researchers attribute to Russia deleted…

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