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Treasury secretly weighs options to avert default

WASHINGTON (Reuters) – A small team of Treasury officials is discussing options to stave off default if Congress fails to raise the country’s borrowing limit by an August 2 deadline, sources familiar with the matter said on Wednesday. Senior officials, including Treasury Secretary Timothy Geithner, have repeatedly said there are no contingency…

PandaLabs: LulzSec, Anonymous caused ‘widespread mayhem’

SAN FRANCISCO — Hackers infected computers, derailed websites, and plundered networks in a memorably miserable quarter, according to a report released Wednesday by Internet security firm PandaLabs. Hacking groups Lulz Security and Anonymous caused “widespread mayhem” during the three months ending June 30, and malicious software “spread substantially,” according to…

Facebook unveils Skype video calling feature

PALO ALTO, California — Facebook added Skype video calling on Wednesday for the hundreds of millions of users of the world’s leading social network. Facebook co-founder Mark Zuckerberg unveiled the new video calling feature during an event at Facebook headquarters in Palo Alto. “We think this is awesome because we’re…

Banks wrestle with no-default help for Greece

Leading banks were meeting in Paris on Wednesday on how to support a new rescue for Greece, their spokesman told AFP shortly after a rating agency issued a new warning and another downgraded Portugal. The critical issue, which has delayed until September any eurozone decision on a new rescue for…

Tech exec leaked secrets to Apple, other tech firms

A technology company executive pleaded guilty to providing confidential information on Apple and other companies, as part of a massive insider-trading probe. Walter Shimoon, 39, pleaded guilty in Manhattan federal court to conspiracy and securities fraud charges arising from schemes in which he gave confidential information to workers and clients…

Google disables realtime search after Twitter deal expires

WASHINGTON — Google has temporarily disabled its Realtime Search feature following the expiration of a deal with Twitter. “Since October of 2009, we have had an agreement with Twitter to include their updates in our search results through a special feed, and that agreement expired on July 2,” a Google…

Twitter buys analytics startup BackType

SAN FRANCISCO — Twitter announced on Tuesday that it has acquired BackType, a San Francisco-based startup that helps publishers measure the impact of their social media use. Financial details of the transaction were not released. Twitter, in a message on its @TwitterGlobalPR feed, said BackType would “focus on creating tools…

Verizon prepares fees for mobile users who download too much information

Verizon Wireless on Tuesday became the latest U.S. mobile data carrier to announce that it would implement usage-based pricing for Internet access, claiming the new fees would mean light users no longer “subsidize” those who rely on the company’s current unlimited data plans. Though the company currently offers a $30-per-month…

Army’s $2.7 billion cloud computing system does not work

By Robert Johnson The U.S. Army’s $2.7 billion dollar cloud based computer supposed to be helping troops in Afghanistan and Iraq doesn’t work and may be doing more harm than good. Several analysts told Politico that the system “…has hurt, rather than helped, efforts to fight insurgents because it doesn’t work…

Lawyers: Protect IP Act would align U.S. Internet policy with ‘repressive regimes’

A group of Internet and intellectual property law professors have penned a letter to congressional lawmakers in opposition to the Protect IP Act, which would give the government sweeping new powers to take websites offline, censor search engines and sue Internet publishers accused of infringing activities. In the letter, they…

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