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A fter a sprawling hacking campaign exposed the communications of an unknown number of Americans, U.S. cybersecurity officials are advising people to use encryption in their communications. To safeguard against the risks highlighted by the campaign, which originated in China, federal cybersecurity authorities released an extensive list of security recommendations for U.S. telecom companies — such as Verizon and AT&T — that were targeted. The advice includes one tip we can all put into practice with our phones: “Ensure that traffic is end-to-end encrypted to the maximum extent possible.” End-to-end encryption, also known as E2EE, means that messages are scrambled so that only the sender and recipient can see them. If anyone else intercepts the message, all they will see is garble that can’t be unscrambled without the key. Law enforcement officials until now resisted this type of encryption because it means the technology companies themselves won’t be able to look at the messages, nor respond to law enforcement requests to turn the data over. Here’s a look at various ways ordinary consumers can use end-to-end encryption: Officials said the hackers targeted the metadata of a large number of customers, including information on the dates, times and recipients of calls and texts. They also managed to see the content from texts from a much smaller number of victims. If you’re an iPhone user, information in text messages that you send to someone else who also has an iPhone will be encrypted end-to-end. Just look for the blue text bubbles, which indicate that they are encrypted iMessages. The same goes for Android users sending texts through Google Messages. There will be a lock next to the timestamp on each message to indicate the encryption is on. But there’s a weakness. When iPhone and Android users text each other, the messages are encrypted only using Rich Communication Services, an industry standard for instant messaging that replaces the older SMS and MMS standards. Apple has noted that RCS messages “aren’t end-to-end encrypted, which means they’re not protected from a third party reading them while they’re sent between devices.” Samsung, which sells Android smartphones, also hinted at the issue in a footnote at the bottom of a press release last month on RCS, saying, “Encryption only available for Android to Android communication.” To avoid getting caught out when trading texts, experts recommend using encrypted messaging apps. Privacy advocates are big fans of Signal, which applies end-to-end encryption to all messages and voice calls. The independent nonprofit group behind the app promises never to sell, rent or lease customer data and made its source code publicly available so that it can be audited by anyone to examine it “for security and correctness.” Signal’s encryption protocol is so reputable that it has been integrated into rival WhatsApp, so users will enjoy the same level of security protection as Signal, which has a much smaller user base. End-to-end encryption is also the default mode for Facebook Messenger, which like WhatsApp is owned by Meta Platforms. Telegram is an app that can be used for one-on-one conversations, group chats and broadcast “channels” but contrary to popular perception, it doesn’t turn on end-to-end encryption by default. Users have to switch on the option. And it doesn’t work with group chats. Cybersecurity experts warned people against using Telegram for private communications and pointed out that only its opt-in ‘secret chat’ feature is encrypted from end-to-end. The app also has a reputation for being a haven for scammers and criminal activity, highlighted by founder and CEO Pavel Durov’s arrest in France. Instead of using your phone to make calls through a wireless cellular network, you can make voice calls with Signal and WhatsApp. Both apps encrypt calls with the same technology that they use to encrypt messages. There are other options. If you have an iPhone you can use Facetime for calls, while Android owners can use the Google Fi service, which are both end-to-end encrypted. The only catch with all these options is that, as with using the chat services to send messages, the person on the other end will also have to have the app installed. WhatsApp and Signal users can customize their privacy preferences in the settings, including hiding an IP address during calls to prevent your general location from being guessed. Get local news delivered to your inbox!
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The jury deliberated its decision Friday in an industry-defining licensing battle that started over a $50 million royalty dispute. Arm is waiting to see if it has won a battle over licensing of its microprocessor designs to Qualcomm that has cast doubt over the immediate future of some of the chip maker’s products. The jury in the US District Court for the District of Delaware spent the week listening to arguments in the protracted and increasingly rancorous licensing dispute between Arm and Qualcomm and all that’s left is to hear their verdict. The verdict, expected on Friday, could be hugely significant, not only for the parties involved but for the maze of other companies that have built their product development around their technology. It’s an extraordinary clash between companies that until as recently as 2021 seemed like firm allies. The legal case started with Qualcomm’s 2021 acquisition of Nuvia, designer of the Phoenix datacenter chip, which used Arm’s v8.7-A instruction set. Under Qualcomm, the Phoenix was reinvented as the Oryon chip, the CPU core of a more general microprocessor used inside the company’s Snapdragon system-on-a-chip (SoC). Importantly, the royalty that Qualcomm agreed to pay under its Architecture License Agreement (ALA) with Arm was lower than that of Nuvia. Qualcomm believed this more favorable deal should apply to Nuvia development going forward because most of its subsequent Snapdragon development was done after the acquisition. Arm disagreed and argued that Qualcomm should pay the rate agreed with Nuvia. According to court testimony by Arm CEO Rene Haas this week, the lower royalty would cause a drop in revenue of $50 million. Failing to reach an agreement with Qualcomm, the company decided to sue, the first time it has taken such action against a customer since its founding in 1990. This is where things became a bit muddy. Why did Arm decide to sue over a relatively small sum, and why did Qualcomm refuse to concede? This week in court a wide range of arguments and counter arguments were laid out, mostly that each company believed the other was trying to sabotage its business. Make Qualcomm great again As it attempts to diversify away from relying on mobile chips, Qualcomm’s Snapdragon SoC platform is seen as critical for its future. This, it hopes, will allow it to take on Intel and AMD in the general microprocessor market while integrating the new-fangled AI capabilities important to the PC sector. In October, Arm cancelled Qualcomm’s license to the Nuvia ALA. It also demanded the destruction of Nuvia designs developed prior to the merger. Clearly, a verdict in favor of Arm would put Qualcomm in a tight corner, and also a who’s who of tech companies — Microsoft, Acer, Asus, Dell, HP, Lenovo, and Samsung — currently using Qualcomm’s Snapdragon designs. This week, Qualcomm put forward an alternative view to explain Arm’s motivations. According to Qualcomm’s lawyers, Arm harbors ambitions to develop competing chips of its own, making it a direct competitor to Qualcomm. Evidence for this remains circumstantial, but to back this up Qualcomm claimed that Arm at one point misled it into disbanding its development team. Stop being cheap A difficulty for outsiders is untangling exactly what is really at issue and whether there’s more to this than meets the eye. According to Arm it’s about licensing agreements and the fees that arise from them. It believes Qualcomm used its IP in Nuvia-originated IP and should pay what Nuvia agreed and stop being cheap. Qualcomm’s argument seems to be that this is a shakedown. And yet there seem to be deeper currents. Perhaps they see each as competitors in the longer term, and the battle is competitive jockeying. Notably, Qualcomm was a major opponent to Nvidia’s proposed 2021 takeover of Arm, abandoned in the face of regulatory hurdles, and even suggested investing in the UK company. For its part, Arm upset Qualcomm by contacting dozens of its customers to inform them of the termination of the Nuvia license. Each round of conflict deepened the antipathy. It’s the sort of dispute that happens all the time in the tech industry, a sector built on patents and cross-licensing of IP. But what was highly unusual about this dispute is that it wasn’t resolved without going to court, a hugely risky situation for both parties should they lose. On the surface, it has never been a battle of equals: Qualcomm’s annual revenue is 10 to 15 times that of Arm’s. That said, since Arm listed on the New York Stock Exchange, its value has soared, bringing its market capitalization much closer to that of the US company. Arm is important for its size and Qualcomm is large and ambitious. Each would like the other’s crown. Both are angry. What’s not yet clear is whether the verdict of a Delaware courthouse, including outright victory, will deliver what either company wants.
Cerity Partners LLC lifted its holdings in shares of TowneBank ( NASDAQ:TOWN – Free Report ) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,144 shares of the bank’s stock after acquiring an additional 1,236 shares during the period. Cerity Partners LLC’s holdings in TowneBank were worth $3,608,000 at the end of the most recent reporting period. A number of other institutional investors have also modified their holdings of TOWN. Price T Rowe Associates Inc. MD boosted its stake in TowneBank by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,805 shares of the bank’s stock worth $1,931,000 after purchasing an additional 2,477 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of TowneBank by 2,100.3% during the first quarter. Public Employees Retirement System of Ohio now owns 21,519 shares of the bank’s stock worth $604,000 after buying an additional 20,541 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of TowneBank during the second quarter worth about $249,000. Oak Harbor Wealth Partners LLC increased its position in TowneBank by 7.0% in the 2nd quarter. Oak Harbor Wealth Partners LLC now owns 8,408 shares of the bank’s stock valued at $229,000 after acquiring an additional 549 shares during the period. Finally, SummerHaven Investment Management LLC raised its stake in TowneBank by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 31,187 shares of the bank’s stock valued at $850,000 after acquiring an additional 569 shares during the last quarter. 55.99% of the stock is owned by institutional investors and hedge funds. TowneBank Stock Performance TOWN stock opened at $36.63 on Friday. The stock has a market capitalization of $2.75 billion, a PE ratio of 18.41 and a beta of 0.89. The company has a fifty day moving average of $34.17 and a 200-day moving average of $31.49. TowneBank has a one year low of $25.70 and a one year high of $37.77. TowneBank Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.73%. The ex-dividend date is Tuesday, December 31st. TowneBank’s payout ratio is 50.25%. Wall Street Analyst Weigh In Separately, Keefe, Bruyette & Woods upgraded TowneBank from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $35.00 to $40.00 in a research note on Wednesday, October 2nd. Read Our Latest Stock Analysis on TOWN About TowneBank ( Free Report ) TowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals. The company operates through three segments: Banking, Realty, and Insurance. It accepts various deposits, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts. Further Reading Want to see what other hedge funds are holding TOWN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TowneBank ( NASDAQ:TOWN – Free Report ). Receive News & Ratings for TowneBank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TowneBank and related companies with MarketBeat.com's FREE daily email newsletter .Manchester Airport issues passenger guide for snow and icy conditions