Our contributing editors have this week chosen to share with us some more stories that have made the press. Whether it’s something news-related, or something more off-beat, you can count on the Finance Magnates team to recommend some of the best reads around.
NYC Placed on Permanent Flooding Notice
Since time immemorial, humanity has always opted to live near water sources, in most instances in close proximity to the coast or rivers. In 2016, residents of New York City are no different and they may be facing the same issues faced by countless other generations around the world.
A recent article on Scientific American found that the Greater New York City region is facing a very real threat due to intermittent flooding, given its vulnerability to rising sea levels over the next three decades.
The report highlights that even a one-foot (30.5 cm) increase in sea level could submerge upwards of 60 square miles in the city, obviously holding serious implications for residents and others.
Inundated coastal regions are nothing new in the annuls of history, with many other cities, settlements, or entire civilizations ultimately facing a watery finality.
Other cities in the US have dealt with similar woes, such as New Orleans. Such environmentally fragile cities are also more vulnerable to weather as well, such as Hurricane Katrina in the case of New Orleans and more recently Hurricane Sandy in New York City.
A recent report by the Regional Plan Association found that New York City has a lot of ground to cover, so to speak, in order to help allay a very real and immediate threat of flooding in its short-term future.
Failure to address some basic environmental concerns could result in the relocation of thousands residents living in the area.
My favourite article this week looks at how the Obama administration seems to have now joined the throngs of anonymous intelligence officials claiming that Russian President Vladimir Putin had to have been involved in the cyber-espionage operation to undermine the US election.
It also asserts that the Russian leader probably directly authorised the hack of the Democratic National Committee.
The statements, which came from White House press secretary Josh Earnest, suggest the goal was to help elect Donald Trump, who he added “must have known about Russia’s involvement. Only Russia’s senior-most officials could have authorised these activities.”
He called it “pretty obvious.”
As yet, no US intelligence official has claimed that Russia’s operation involved tampering with votes or caused Clinton to lose the election but while Earnest’s accusations are lacking in concrete evidence, it certainly makes you wonder whether there just might be an element of truth in them?!
Would You Sell Your Friends To Hackers?
I have written extensively about ransomware before as the criminals behind this practice often rely on bitcoin as a mode of payment.
I have covered some very interesting stories like how the hackers innovate from time to time, that they offer call centers with technical support for their victims and that they take national per capita GDP differences into consideration when determining the ransom demands in different countries. But this is new even to me.
The cyber criminals have now turned ‘nasty’ offering victims a chance to get them off their backs in return to taking part in infecting their contacts with the malicious software.
Considering that they already gain access to the system and can therefore just steal contact lists directly, this looks more like a cruel sociology experiment than a business model. For more details read this update from the Guardian.
We conclude another week of stories that our editors are reading. Feel free to share your views in the comment section and any recommendations of your own. We look forward to hearing your opinions!
Check out our previous posts here:
Stocks to Watch This Week – Expedia Group, IncGo to article >>