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JPMorgan Chase's chief financial officer Jeremy Barnum pushed back hard on Tuesday against President Donald Trump's proposed 10% cap on credit card interest rates, calling the measure "very bad for consumers" and "very bad for the economy" during a call with reporters. The proposed one-year cap, which Trump has said he wants implemented starting January 20, sent banking stocks tumbling last week and prompted financial groups to mount a defense. Barnum said JPMorgan would have to "change the business significantly and cut back" if the cap takes effect, adding that he believes the policy would produce "the exact opposite consequence to what the administration wants." Wall Street analysts remain skeptical the proposal will survive, noting that only Congress can enact such a measure. The average credit card interest rate in November stood at 20.97%, according to Federal Reserve data. Financial industry groups have countered that a 10% cap would result in millions of American households and small businesses losing access to credit entirely. A banking industry body called the potential impact "devastating."

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Moxie Marlinspike, the engineer who created Signal Messenger and set a new standard for private communications, is now trialing Confer, an open source AI assistant designed to make user data unreadable to platform operators, hackers, and law enforcement alike. Confer relies on two core technologies: passkeys that generate a 32-byte encryption keypair stored only on user devices, and trusted execution environments on servers that prevent even administrators from accessing data. The code is open source and cryptographically verifiable through remote attestation and transparency logs. Marlinspike likens current AI interactions to confessing into a "data lake." A court order last May required OpenAI to preserve all ChatGPT user logs including deleted chats, and CEO Sam Altman has acknowledged that even psychotherapy sessions on the platform may not stay private.

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The Emperor Penguin tries it… just for fun

Perhaps the most famous low-level systems programmer has tried "vibe coding" for himself – and he seems to be enjoying it.…

Meta has begun laying off more than 1,000 employees from its Reality Labs division as the company redirects resources away from virtual reality and metaverse products toward AI wearables and smartphone features. The cuts amount to roughly 10% of Reality Labs' 15,000-person workforce, according to an internal post from CTO Andrew Bosworth reviewed by Bloomberg. Reality Labs has lost more than $70 billion since the start of 2021, and top executives discussed budget cuts as deep as 30% for the metaverse group in December. Meta plans to continue developing its Horizon metaverse platform, but the focus will shift almost exclusively to mobile phones rather than the fully immersive VR headsets the company originally envisioned.

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33-year-old was under surveillance for some time before returning home from the UAE

Dutch police believe they have arrested a man behind the AVCheck online platform - a service used by cybercrims that Operation Endgame shuttered in May.…

Microsoft announced Tuesday what it calls a "community first" initiative for its AI data centers, pledging to pay full electricity costs and reject local property tax breaks following months of growing opposition from residents facing higher power bills. The announcement in Washington, D.C. marks a clear departure from past practices; Microsoft has previously accepted tax abatements for data centers in Ohio and Iowa. Brad Smith, Microsoft's president, said the company has been developing the initiative since September. Residential power prices in data center hubs like Virginia, Illinois, and Ohio jumped 12-16% over the past year, faster than the U.S. average. Three Democratic senators launched an investigation last month into whether tech giants are raising residential bills. Microsoft also pledged a 40% improvement in water efficiency by 2030 and committed to replenishing more water than it uses in each district where it operates.

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Analysts say cheap energy and storage make sense for bit barns despite policy headwinds

Despite the Trump administration's opposition to renewables, solar power will likely remain part of datacenter energy supply mix due to its low cost.…

Git server flaw that attackers have been abusing for months has now caught the attention of US cyber cops

CISA has ordered federal agencies to stop using Gogs or lock it down immediately after a high-severity vulnerability in the self-hosted Git service was added to its Known Exploited Vulnerabilities (KEV) catalog.…

An anonymous reader quotes a report from CNBC: President Donald Trump said in a social media post on Monday that Microsoft will announce changes to ensure that Americans won't see rising utility bills as the company builds more data centers to meet rising artificial intelligence demand. "I never want Americans to pay higher Electricity bills because of Data Centers," Trump wrote on Truth Social. "Therefore, my Administration is working with major American Technology Companies to secure their commitment to the American People, and we will have much to announce in the coming weeks." [...] Trump congratulated Microsoft on its efforts to keep prices in check, suggesting that other companies will make similar commitments. "First up is Microsoft, who my team has been working with, and which will make major changes beginning this week to ensure that Americans don't 'pick up the tab' for their POWER consumption, in the form of paying higher Utility bills," Trump wrote on Monday. Utilities charged U.S. consumers 6% more for electricity in August from a year earlier, including in states with many data centers, CNBC reported in November. Microsoft is paying close to attention to the impact of its data centers on local residents. "I just want you to know we are doing everything we can, and I believe we're succeeding, in managing this issue well, so that you all don't have to pay more for electricity because of our presence," Brad Smith, the company's president and vice chair, said at a September town hall meeting in Wisconsin, where Microsoft is building an AI data center. While Microsoft is moving forward with some facilities, the company withdrew plans for a data center in Caledonia, Wisconsin, amid loud opposition to its efforts there. The project would would have been located 20 miles away from a data center in the village of Mount Pleasant.

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AuraInspector automates the most common abuses and generates fixes for customers

Mandiant has released an open source tool to help Salesforce admins detect misconfigurations that could expose sensitive data.…

Dutchman fails to convince judges his trial was unfair because cops read his encrypted chats

A Dutch appeals court has kept a seven-year prison sentence in place for a man who hacked port IT systems with malware-stuffed USB sticks to help cocaine smugglers move containers, brushing off claims that police shouldn't have been reading his encrypted chats.…

Yes, London property prices are high. But here's a picture of Boris Johnson

From the "there but for the grace of God" department comes a new website to find affordable housing in London containing data it shouldn't.…

Europe's largest council delays Fusion reimplementation four years after go-live disaster

Birmingham City Council has pushed back the relaunch of its troubled Oracle Fusion ERP system, saying staff need more time to adapt to the vendor's standard processes.…

Project Nightfall aims to deliver a UK-built long-range strike capability at speed

The British government is asking defense firms to rapidly produce a new ground-launched ballistic missile to aid Ukraine's fight against Russia - hardware that might also be adopted by UK's armed forces in future.…