Cryptocurrency exchange Bybit has experienced $1.46 billion worth of "suspicious outflows," according to blockchain sleuth ZachXBT. From a report: The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan shows. The wallet has sold around $200 million worth of stETH so far. Bybit CEO Ben Zhou wrote on X that a hacker "took control of the specific ETH cold wallet and transferred all the ETH in the cold wallet to this unidentified address."

AI coding assistants are reshaping software development, but they're unlikely to replace human programmers entirely, according to industry experts and developers. GitHub CEO Thomas Dohmke projects AI could soon generate 80-90% of corporate code, transforming developers into "conductors of an AI-empowered orchestra" who guide and direct these systems.

Current AI coding tools, including Microsoft's GitHub Copilot, are delivering 10-30% productivity gains in business environments. At KPMG, developers report saving 4.5 hours weekly using Copilot, while venture investment in AI coding assistants tripled to $1.6 billion in 2024. The tools are particularly effective at automating routine tasks like documentation generation and legacy code translation, according to KPMG AI expert Swami Chandrasekaran.

They're also accelerating onboarding for new team members. Demand for junior developers remains soft, however, though analysts say it's premature to attribute this directly to AI adoption. Training programs like Per Scholas are already adapting, incorporating AI fundamentals alongside traditional programming basics to prepare developers for an increasingly AI-augmented workplace.

Rivian reported its first-ever positive gross profit of $170 million in Q4 2024, driven by cost reductions and increased regulatory credit sales, despite a $4.7 billion net loss for the year. The company said it expects to sell 46,000-51,000 vehicles this year and achieve "modest gross profit." The Verge reports: Rivian reported $170 million in positive gross profits, which includes production and sales but does not factor in other expenses, for the three-month period that ended December 31, 2024. That was based on $1.7 billion in revenues. The company said its net loss for the fourth quarter was $743 million, as compared to $1.5 billion in net losses in the same period in 2023.

Rivian earned $4.5 billion in revenue for the full year 2024, based on the delivery of 51,579 vehicles. It record a net loss of $4.7 billion, compared to $5.4 billion in 2023. Rivian cited increased revenue from the sale of regulatory credits to other automakers, which is also a primary revenue driver for Tesla. The company said it saw a $260 million increase in regulatory credit sales in the fourth quarter year over year.

An anonymous reader quotes a report from Reuters: The chief executive of streaming giant Netflix on Thursday announced a $1 billion investment to produce some 20 films and TV series in Mexico annually over the next four years. Speaking at President Claudia Sheinbaum's morning press conference in Mexico City, Netflix CEO Ted Sarandos said he looked forward to entering more partnerships with producers in the Latin American nation. Sheinbaum said the investments in the film industry should produce many jobs beyond immediate production needs, such as hospitality for actors and crew members, fashion designers and also spur tourism. "It's an industry that gives a lot of mileage to the economy," Sheinbaum said. "It's not only important for Mexico to be seen in the world, but also because of the economic development and jobs generated by a production."

Amazon has dethroned Walmart in quarterly revenue for the first time ever. From a report: Amazon said earlier this month that it brought in $187.8 billion in revenue during the fourth quarter. That beat out Walmart's sales for the period, which came in at $180.5 billion, the company reported on Thursday. Since 2012, Walmart has held the distinction of being the top revenue generator each quarter, a title it gained after overtaking oil giant Exxon Mobil. Walmart still leads the way in annual sales, though Amazon is gaining ground. Walmart is projected to reel in $708.7 billion in the fiscal year ahead while Amazon's full year revenue for 2025 is expected to reach $700.8 billion, according to FactSet.

Amazon will discontinue its workplace communications platform Chime in February 2026 and has stopped accepting new customers, the company's cloud division AWS said in a blog post. The service, which Amazon employees widely used for video calls, messaging and business communications, is among several products being phased out. The company also recently shuttered Inspire, its TikTok-style video feed feature in its mobile app, and announced plans to shut down its Android app store earlier today.

Nikola, the hydrogen-truck maker that briefly sported a market value comparable to Ford Motor, has filed for bankruptcy with plans to wind down its business. From a report: Nikola on Wednesday said that it made the chapter 11 filing with the U.S. Bankruptcy Court in Delaware and that it plans to conduct a court-supervised auction of its assets.

The Phoenix company said it worked for months with its financial and legal advisers to find a way to sustain its operations before determining that a structured sale process was the best way to maximize the value of its assets.

An anonymous reader quotes a report from Bloomberg: Niantic, the company behind the 2016 hit Pokemon Go, is in talks to sell its video-game business to Saudi Arabia-owned Scopely, according to several people familiar with the discussions. A deal could be announced in coming weeks. The price being discussed is about $3.5 billion, according to one of the people. Any agreement would involve the Pokemon title as well as other mobile games, according to the people, who asked not to be identified because the discussions are private. There's no assurance an agreement will be reached.

Former OpenAI CTO Mira Murati has launched Thinking Machines Lab with several leaders from OpenAI on board, including John Schulman, Barrett Zoph, and Jonathan Lachman. Their mission is "to make AI systems more widely understood, customizable, and generally capable," with a commitment to publishing technical research and code. The Verge reports: In a press release shared with The Verge, the company suggests that it's building products that help humans work with AI, rather than fully autonomous systems. "We're building a future where everyone has access to the knowledge and tools to make AI work for their unique needs and goals," says the press release.

An anonymous reader quotes a report from Bloomberg: HP will acquire assets from Humane, the maker of a wearable Ai Pin introduced in late 2023, for $116 million. The deal will include the majority of Humane's employees in addition to its software platform and intellectual property, the company said Tuesday. It will not include Humane's Ai pin device business, which will be wound down, an HP spokesperson said. Humane's team, including founders Imran Chaudhri and Bethany Bongiorno, will form a new division at HP to help integrate artificial intelligence into the company's personal computers, printers and connected conference rooms, said Tuan Tran, who leads HP's AI initiatives. Chaudhri and Bongiorno were design and software engineers at Apple before founding the startup. [...]

Tran said he was particularly impressed with aspects of Humane's design, such as the ability to orchestrate AI models running both on-device and in the cloud. The deal is expected to close at the end of the month, HP said. "There will be a time and place for pure AI devices," Tran said. "But there is going to be AI in all our devices -- that's how we can help our business customers be more productive."

A new report released by Cisco finds that 97% of CEOs surveyed are planning AI integration. Similarly, 92% of companies recently surveyed by McKinsey plan to invest more in generative AI over the next three years. Fortune: To that end, many companies are seeking tech-savvy finance talent, according to a new report by software company Datarails. The researchers analyzed 6,000 job listings within the CFO's office -- CFO, controller, financial planning and analysis (FP&A), and accountant -- advertised on job search websites including LinkedIn, Glassdoor, Indeed, Job2Careers, and ZipRecruiter.

Of the 1,000 job listings for CFOs in January 2025, 27% included AI in the job description. This compares to 8% mentions of AI in 1,000 CFO job listings at the same time last year. Take, for example, Peaks Healthcare Consulting which required a CFO candidate to "continuously learn and integrate AI to improve financial processes and decision making," Datarails notes in the report. Regarding FP&A professionals, in January 2025, 35% of analyst roles mentioned AI competency as a requirement, compared to 14% in January 2024, according to the report.

Chinese AI startup DeepSeek has updated its business registry information with key changes to personnel and operational scope, signaling a shift towards monetizing its cost-efficient-yet-powerful large language models. From a report: The Hangzhou-based firm's updated business scope includes "internet information services," according to business registry service Tianyancha. The move is the first sign of DeepSeek's desire to monetise its popular technology, according to Zhang Yi, founder and chief analyst at consultancy iiMedia.

With eyes on developing a business model, DeepSeek intends to shift away from being purely focused on research and development, Zhang added. "The move reflects that for a company like DeepSeek, which managed to accumulate technology and develop a product, monetisation is becoming a necessary next step," Zhang said. DeepSeek's previous business scope said it engages in engineering and AI software development, among others, hinting at a more research-driven approach.

Acer will raise laptop prices in the United States by 10% next month due to Trump administration tariffs on Chinese imports, CEO Jason Chen said. "We will have to adjust the end user price to reflect the tariff," Chen said. "We think 10 percent probably will be the default price increase because of the import tax."

The Taiwan-based company, the fifth-largest computer seller in the U.S. market behind HP, Dell, Lenovo and Apple, could add hundreds of dollars to its high-end laptops that cost up to $3,700. Chen said Acer is exploring manufacturing options outside China, including possible U.S. production. The company has already moved desktop computer assembly out of China following earlier 25% tariffs during Trump's first term. The 10% tariff imposed this month affects nearly 80% of U.S. laptop imports from China.

India's Tata Consultancy Services allegedly manipulated U.S. visa programs by falsifying management credentials for foreign workers, according to lawsuits and federal data obtained by Bloomberg News. TCS, India's largest IT services firm, received upwards of 6,500 L-1A visas for managers from October 2019 through September 2023, more than the next seven largest recipients combined. In contrast, TCS categorized fewer than 600 of its 31,000 U.S.-based employees as executives and managers in a 2022 federal report.

Former TCS manager Anil Kini alleged in a lawsuit that in January 2017, a senior manager ordered him to alter organizational charts to hide discrepancies for employees without management responsibilities. The Equal Employment Opportunity Commission found "credible documentary evidence" that TCS "frequently falsifies documents in support of L-1 visa applications," according to a 2019 letter. L-1A visas for managers, unlike H-1B visas, have no pay requirements or caps.

TCS has denied wrongdoing, saying it "strongly refutes these inaccurate allegations by certain ex-employees, which have previously been dismissed by multiple courts."

Apps offering lifetime subscriptions may pose risks despite potential cost savings, according to cybersecurity experts and analysts. While some lifetime plans can pay off quickly - like dating app Bumble's $300 premium subscription that breaks even in five months - others require years of use to justify hefty upfront costs. Meditation app Waking Up charges $1,500 for lifetime access, requiring over 11 years of use to recoup the investment.

Security researchers warn against lifetime subscriptions for services with high recurring costs like VPNs and cloud storage. Such providers may compromise user privacy or cut corners on infrastructure to offset losses, said Trevor Hilligoss, senior vice president at cybercrime research group SpyCloud Labs.

White-collar workers are facing their deepest hiring slump in a decade, with one in four U.S. job losses last year hitting professional workers, according to S&P Global. A 2024 Vanguard report shows hiring for employees earning over $96,000 has fallen to its lowest level since 2014. The downturn has been particularly severe for job seekers â" 40% of applicants failed to secure even a single interview in 2024, according to a survey of 2,000 respondents by the American Staffing Association and The Harris Poll.

Technology and high interest rates appear to be driving the decline, with companies reassessing their workforce needs amid AI adoption and economic pressures. While hiring remains steady for those earning under $55,000 annually, the market continues to be especially challenging for mid-career professionals and higher earners.

Ten years after publishing his influential book on data privacy, security expert Bruce Schneier warns that surveillance has only intensified, with both government agencies and corporations collecting more personal information than ever before. "Nothing has changed since 2015," Schneier told The Register in an interview. "The NSA and their counterparts around the world are still engaging in bulk surveillance to the extent of their abilities."

The widespread adoption of cloud services, Internet-of-Things devices, and smartphones has made it nearly impossible for individuals to protect their privacy, said Schneier. Even Apple, which markets itself as privacy-focused, faces limitations when its Chinese business interests are at stake. While some regulation has emerged, including Europe's General Data Protection Regulation and various U.S. state laws, Schneier argues these measures fail to address the core issue of surveillance capitalism's entrenchment as a business model.

The rise of AI poses new challenges, potentially undermining recent privacy gains like end-to-end encryption. As AI assistants require cloud computing power to process personal data, users may have to surrender more information to tech companies. Despite the grim short-term outlook, Schneier remains cautiously optimistic about privacy's long-term future, predicting that current surveillance practices will eventually be viewed as unethical as sweatshops are today. However, he acknowledges this transformation could take 50 years or more.

Apple is exploring ways to monetize its Maps app by introducing paid business listings and prioritized search results, Bloomberg News reports, citing an internal company meeting with the Maps team. The initiative would allow businesses to pay for higher placement in search results and more prominent display on maps, similar to Google Maps' advertising model. While no timeline has been set and no active development is underway, the move would mark Apple's first attempt to generate direct revenue from its mapping service. The potential Maps monetization comes as Apple expands its advertising business across other services. The company has previously increased its focus on search ads in the App Store and recently added advertising to its News and Stocks apps, as well as its sports content.

"Amazon required employees to work from the office five days a week starting January 2nd," writes the Seattle Times, "a change from the company's three-day in-office mandate that had been in effect since May 2023."

And as Seattle's largest employer (with 50,000 Seattle-based workers), this had an impact, according to data the Times cites from the nonprofit Downtown Seattle Association: In January, downtown Seattle recorded the second-highest daily average for weekday worker foot traffic since March 2020. It also saw 2 million unique visitors on its sidewalks last month. That represents 94% of the visitors downtown Seattle saw in January 2019, the Downtown Seattle Association found...

In a statement Friday, Amazon said "we're excited by the innovation, collaboration and connection we've seen already with our teams working in person together...." Jon Scholes [the president of the Downtown Seattle Association] said Amazon's return has been a boon for downtown Seattle. As the city's largest employer, its mandate instantly brought more people to shop and dine around South Lake Union, the Denny Triangle and surrounding neighborhoods... "I think we're seeing people get reacquainted with the reasons they liked working downtown prepandemic," Scholes said. He expects to continue seeing an uptick in foot traffic over the course of the year as more companies follow Amazon's lead and the weather warms up.
But Seattle magazine says the statistics show foot traffic in neighborhoods where Amazon's offices are located (South Lake Union and Denny Regrade) "at 74% of that of January 2019. Overall, downtown-area foot traffic was 9% higher than it was a year ago, though only 57% of the pre-pandemic average."

California is "considering state ownership of one or more oil refineries," reports the Los Angeles Times.

They call the idea "one item on a list of options presented by the California Energy Commission to ensure steady gas supplies as oil companies pull back from the refinery business in the state." "The state recognizes that they're on a pathway to more refinery closures," said Skip York, chief energy strategist at energy consultant Turner Mason & Co. The risk to consumers and the state's economy, he said, is gasoline supply disappearing faster than consumer demand, resulting in fuel shortages, higher prices and severe logistical challenges.

Gasoline demand is falling in California, albeit slowly, for two reasons: more efficient gasoline engines, and the increasing number of electric vehicles on the road. Gasoline consumption in California peaked in 2005 and fell 15% through 2023, according to the Union of Concerned Scientists. Electric vehicles, including plug-in hybrids, now represent about 25% of annual new car sales... The drop in demand is causing fundamental strategic shifts among the state's major oil refiners: Chevron, Marathon, Phillips 66, PBF Energy and Valero.

Already, two California refineries have ceased producing gasoline to make biodiesel fuel for use in heavy-duty trucks, a cleaner-fuel alternative that enjoys rich state subsidies. More worrisome, the Phillips 66 refinery complex in Wilmington, just outside Los Angeles, plans to close down permanently by year's end. That leaves eight major refineries in California capable of producing gasoline. The closure of any one would create serious gasoline supply issues, industry analysts say. But both Chevron and Valero are contemplating permanent refinery closures. The implications? "Demand will decline gradually," York said, "but supply will fall out in chunks." What's unknown is how many refineries will close, and how soon, and how that will affect supply and demand...

A state refinery takeover seems like a radical idea, but the fact that it's being considered demonstrates the seriousness of the supply issue. It's one of several option laid out by the California Energy Commission, which is fulfilling a legislative order to find ways to ensure "a reliable supply of affordable and safe transportation fuels in California." The options list is disparate: Ship in more gasoline from Asia; regulate refineries on the order of electric utilities; cap profit margins; and many more.
92% of California's gas is produced in refineries, the Times reports. But the special gasoline blends required to reduce air pollution "also drive up gasoline prices and raise the risk of shortages, because little such gasoline is produced outside California."