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Philadelphia Inquirer hit by cyberattack causing newspaper’s disruption

PHILADELPHIA (AP) — The Philadelphia Inquirer experienced the most significant disruption to its operations in 27 years due to what the newspaper calls a cyberattack. The company was working to restore print operations after a cyber incursion that prevented the printing of the newspaper’s Sunday print edition, the Inquirer reported on its website. The news operation’s website was still operational Sunday, although updates were slower than normal, the Inquirer reported. Inquirer publisher Lisa Hughes said Sunday “we are currently unable to provide an exact time line” for ...

Vice Media files for bankruptcy

NEW YORK (AP) — Vice Media is filing for Chapter 11 bankruptcy protection, the most recent digital media company to falter after a meteoric rise. Vice said Monday that it has agreed to sell its assets to a consortium of lenders — Fortress Investment Group, Soros Fund Management and Monroe Capital — in exchange for $225 million in credit. Other parties will be able to submit bids as well. The company expects the sale to conclude in the next two to three months. During the process, Vice’s media brands will continue to produce content and the company will keep paying its ...

Remote work boom is only beginning – and bigger business than ever

Wealth of Geeks A recent MBO study found up to 72 million adult Americans want to become “digital nomads,” pairing typical remote work arrangements with frequent travel, within the next 2-3 years. That’s a staggering 30.6% of all adult Americans, a remarkable figure that foresees massive lifestyle and “workstyle” shifts on the horizon. Your coworkers dream of ditching the office for a lounge chair on a tropical beach, fruity cocktail in hand. But how many are actually planning to go through with it? With the number of digital nomads surging 131% since 2019 and jobs ...

What to know about bank failures

NEW YORK (AP) — Recent turmoil in the banking industry may have you worried about your money. Shares of PacWest, a small regional bank based in Los Angeles, plunged almost 40% Thursday after the company confirmed it may put itself up for sale. Anxiety over potential bank runs has sent shares of smaller banks tumbling. A bank run is when large numbers of people withdraw their money from a bank all at once. Since March, three regional banks have failed — Silicon Valley Bank, Signature Bank and First Republic Bank. If the recent bank collapses have you worried about the safety of ...

European shares rise after Asia drops over US banks, China growth worries

TOKYO (AP) — European benchmarks rose Friday after Asian shares mostly declined on looming worries over U.S. banks and lagging demand from China, the region’s major driver of growth. France’s CAC 40 rose 1.0% in early trading to 7,451.96. Germany’s DAX added 0.6% to 15,931.25. Britain’s FTSE 100 gained 0.5% to 7,767.52. U.S. shares were set to drift higher with Dow futures up 0.4% to 33,507.00. S&P 500 futures added 0.4% to 4,160.50. Oil prices fell while currencies traded in a narrow range. “Asian equities struggled for direction after weak inflation data in China ...

US approves $8.5B sale of Chinook helicopters

WASHINGTON (AP) — The Biden administration on Thursday approved an $8.5 billion sale of Chinook helicopters to NATO ally Germany. The approval comes as the war in Ukraine continues to tax the military stocks of Western countries but is not directly related to the conflict. The State Department said it had notified Congress that the U.S. would sell Germany 60 Chinooks along with engines and associated spare parts, including missile warning systems. The Chinook is the Army’s key heavy-lift helicopter, used to transport troops and equipment, and was a familiar sight in the ...