Thursday, October 10, 2019 1:00 am
EU warns of attacks on modern networks
LONDON – The European Union warned Wednesday that next-generation telecommunication networks face a range of cyber threats, including from hostile countries.
While steering clear of singling out Chinese tech company Huawei, an EU security risk assessment identified “states or state-backed actors” as the most serious and likely culprits to carry out sophisticated attacks on new 5G networks.
The report didn't name specific countries. It only briefly mentioned Huawei as one of the main suppliers of 5G equipment, alongside Finland's Nokia and Sweden's Ericsson.
Huawei, the world's biggest maker of telecom network gear, has been at the center of a furious geopolitical battle between the U.S. and China. The U.S. government has been lobbying allies in Europe and elsewhere to shun Huawei over concerns its equipment might aid Chinese electronic spying.
American pushes back Max 737 return
American Airlines is pushing back the expected return of its Boeing 737 Max jets into next year and says the grounding of the planes cut its third-quarter pretax income by $140 million.
The airline said Wednesday it expects to slowly bring the plane back into its schedule starting Jan. 16.
That is six weeks later than American planned just last month, and the sixth time the airline has pushed back the plane's return.
Fort Worth-based American said it will drop about 140 flights per day until mid-January because of the grounding.
In an update for investors, the airline indicated that demand for tickets remains solid, with a key measure of revenue per seat rising about 2% in the third quarter. Some costs are rising, but jet fuel was cheaper than American had expected during the quarter, and it slightly raised its profit-margin estimate.
Job openings, hiring fall during August
U.S. job openings fell 1.7% in August and hires edged down, bolstering views that the labor market may lose momentum as economic uncertainty and a manufacturing recession squeeze employers.
The Labor Department says employers advertised 7.1 million available jobs in August, down from 7.2 million available jobs in July. Job openings reached a peak of 7.6 million last November but have fallen by about 500,000 since then. This is the third straight month that job openings have dropped, slumping to the lowest level since March 2018. The quits rate, which indicates worker confidence in finding a new job, fell back to its summer rate of 2.3%.
Economists have viewed the sustained drop in job openings as a sign that that employers are beginning to pull back on hiring.
Zuckerberg to be at House hearing
Facebook CEO Mark Zuckerberg will appear before Congress this month as the tech giant is under pressure from lawmakers and regulators over its massive market power and record of privacy breaches.
Rep. Maxine Waters, the California Democrat who heads the House Financial Services Committee, has announced that Zuckerberg will testify at a hearing by the panel on Oct. 23. The focus will be on Facebook's plan to create a digital currency and its role in housing.