Thursday☕️

Time Is Money

Oct 24, 2024 • 3 min read

Trending:

Nidec Cyberattack
Anthropic’s New AI Model

Markets:

Yesterday’s U.S. stock market:

Yesterday’s commodity market:

Yesterday’s crypto market:

Nidec Cyberattack:

In August 2024, Nidec Corporation, a Japanese manufacturer, experienced a ransomware attack where hackers stole over 50,000 files. The attackers gained access by using stolen login details, targeting Nidec’s Precision division in Vietnam, which makes optical, electronic, and mechanical equipment. By using compromised VPN credentials, the hackers were able to access the company’s servers and take sensitive files, including internal documents, business contracts, and purchase orders.
The hackers tried to extort Nidec by demanding a ransom, but the company refused to pay. As a result, the stolen files were released on the dark web. After investigating, Nidec found that the leaked data could lead to more targeted phishing attacks, putting both employees and business partners at risk. To prevent future incidents, Nidec tightened its security, fixed vulnerabilities, and provided training for employees on better cybersecurity practices.
Two different ransomware groups, 8BASE and Everest, claimed responsibility for the attack. Initially, 8BASE hacked into Nidec’s systems, and later, Everest attempted further blackmail by publishing the stolen data on their leak sites. Nidec has notified affected business partners and is keeping a close watch on the situation. Although no direct financial losses have been reported, this incident shows how serious ransomware attacks can be and the importance of strong cybersecurity protections.

Anthropic’s New AI Model:

Anthropic has recently launched Claude Haiku 3.5, an updated version of their AI model designed to be both powerful and budget-friendly. This new model offers the same level of performance as the older Claude 3 Opus but at a lower cost, making it a great option for businesses that need effective AI without spending too much. Haiku 3.5 responds quickly and accurately to instructions, which is useful for tasks like customer support, data processing, or any situation that requires fast, reliable answers. Its efficient design ensures that it can be easily integrated into existing systems, handling tasks smoothly without sacrificing speed.
One of the improvements in Haiku 3.5 is its enhanced ability to understand and work with coding tasks, as well as using tools and interacting with personalized data more effectively than before. Despite being a smaller, more streamlined model, it performs complex instructions just as well as the larger, more expensive models, making it easier for businesses to adopt and use across different scenarios. This balance of speed, cost, and performance makes Haiku 3.5 a versatile and practical choice for companies of all sizes.
Alongside Haiku 3.5, Anthropic is also upgrading other models in their Claude lineup. The latest version of Claude Sonnet 3.5 has been improved to work faster and more efficiently than before, outpacing the older Claude 3 Opus. It also brings new features, like the ability to interact with software using screen recordings, which means it can handle more complex tasks on its own, such as managing multi-step workflows or interpreting visual data.

Statistic:

Largest financial service companies by market capitalization:

🇺🇸 JPMorgan Chase: $628.96B
🇺🇸 Visa: $552.16B
🇺🇸 Mastercard: $474.60B
🇺🇸 Bank of America: $325.54B
🇨🇳 ICBC: $285.54B
🇨🇳 Agricultural Bank of China: $233.05B
🇺🇸 Wells Fargo: $219.74B
🇨🇳 China Construction Bank: $200.55B
🇺🇸 American Express: $191.06B
🇺🇸 Morgan Stanley: $190.66B
🇨🇳 Bank of China: $187.39B
🇨🇦 Royal Bank Of Canada: $177.06B
🇺🇸 Goldman Sachs: $163.33B
🇮🇳 HDFC Bank: $163.22B
🇬🇧 HSBC: $160.35B
🇺🇸 S&P Global: $159.91B
🇦🇺 Commonwealth Bank: $157.46B
🇨🇳 CM Bank: $138.61B
🇺🇸 Charles Schwab: $131.18B
🇺🇸 Citigroup: $119.34B

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