Lawmakers have summoned Joseph Blount, the CEO of Colonial Pipeline, to testify next month at a Congressional hearing to probe how a cyberattack caused a six-day shutdown of the biggest oil pipeline in the US. The hearing, called “Cyber Threats in the Pipeline: Using Lessons from the Colonial Ransomware Attack to Defend Critical Infrastructure,” will...Read More

Amazon said Friday it will retire its quick-delivery Prime Now app at the end of the year, claiming that its regular app is now capable of the same speedy service. The seven year-old app, which also has its own website, provides last-minute delivery on groceries and other household staples in about an hour. It is...Read More

CNA Financial, one of the biggest insurance companies in the US, reportedly forked over $40 million in ransom after it was hit by a cyberattack in late March. The Chicago-based company was locked out of its network and decided to pay the hackers after about two weeks, Bloomberg News reported, citing two people with knowledge...Read More

The Federal Reserve and the Treasury Department turning up the heat on cryptocurrency, signaling a crackdown could be coming after several days of volatility in the sector. Fed chair Jerome Powell said in a rare video message posted Thursday that cryptocurrencies, which have grown to have a market cap of nearly $2 trillion, pose some...Read More

The fate of Tribune Publishing hangs in the balance, but Dr Soon Shiong, the LA Times owner who is also the second largest shareholder in the newspaper chain that includes the New York Daily News and Chicago Tribune, nearly forget a crucial vote to sell the publisher is set for Friday, May 21. “I’ve been...Read More

Barry Meier got a great plug on Sunday for his new book, “Spooked: The Trump Dossier, Black Cube and the Rise of the Private Spies,” when The New York Times’ business section took an excerpt from it to lead its front page.  An identifier at the bottom of the article calls Meier a “former reporter”...Read More

While a US senator has been pushing legislation to boost the nation’s semiconductor industry, his wife — who happens to own the Strand Bookstore in Manhattan — has been cleaning up on shares of chipmakers that have stood to benefit. Since last year, Sen. Ron Wyden, a Democrat from Oregon, has pushed legislation to bolster...Read More

Comedian-turned-media mogul Byron Allen has sued McDonald’s for $10 billion in damages, alleging racial discrimination tied to its advertising practices.   The head of Allen Media Group claims racial stereotyping is at play in the fast-food giant’s refusal to contract with his AMG’s Entertainment Studios and Weather Group in violation of federal and state law....Read More

Robinhood wants to give amateur investors access to initial public offering shares ahead of its own planned IPO. The popular no-fee trading app that’s become synonymous with the Reddit rally unveiled IPO Access on Thursday, giving users the ability to buy shares at their listing price before they begin trading on stock exchanges. IPO shares...Read More

Alphabet’s Google said on Thursday it would open its first physical store in NYC this summer, mirroring a retail approach that has helped Apple rake in billions of dollars in the last two decades. The Google store will be located in Chelsea near Google’s NYC campus, which houses over 11,000 employees. Google, which has set up pop-up stores in the past to promote...Read More