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Free online 'threat blocker' launched in Canada as successful COVID-19 scams multiply – CBC.ca

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As the number of successful pandemic-related scams continues to grow online, Canada’s cyber spy agency is helping to launch a new — and free — threat-blocking tool for all Canadians to use.

This first-of-its-kind initiative is getting tentative applause in cyber security circles, but experts caution the initiative needs to be closely watched to make sure it doesn’t cross any red lines.

The Canadian Internet Registration Authority (CIRA, the not-for-profit agency that manages the .ca internet domain) and the Communications Security Establishment, Canada’s foreign signals intelligence agency, teamed up on the CIRA Canadian Shield — a protected domain name system (DNS) service that prevents Canadians from connecting to malicious websites that might infect their devices and steal their personal information.

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CIRA is providing the threat blocking technology while the CSE’s Canadian Centre for Cyber Security is offering its threat intelligence services — basically a who’s-who list of every bad actor roaming the web.

“For any piece of malicious software to get to you, 90 per cent of it relies on knowing the address book of the internet,” said Scott Jones, head of the cyber security centre.

(Canadian Centre for Cyber Security)

“What we do is when we know it’s malicious, CIRA makes sure that you don’t get told to go to the bad address. It stops you from getting to the bad place.”

The two agencies were working on the project long before the pandemic struck, said Jones, but the current global emergency makes it more relevant because large numbers of Canadians are now working from home, often on unsecured networks or devices.

“We’re not just feeding in information about malicious attacks that are COVID-related. We’re feeding in anything we see from any criminal activity that’s targeting the government, or that we’re getting made aware of. Any state-sponsored type activity as well that we can block, we’re putting it in there,” he said.

“Basically, anything we’re using to defend the government of Canada we’re now making available for all Canadians, so that they can protect themselves.”

Project should be audited for censorship: researcher

Christopher Parsons, a senior research associate at the Citizen Lab through the Munk School of Global Affairs and Public Policy, said the electronic spy agency has made progress in stepping out of the shadows.

“This represents to my eye a continuation of that effort, to take what is often sort of secret or classified information, turn it into a way that could be made publicly available and then trying to make it more useful to Canadians,” he said.

(Canadian Centre for Cyber Security)

Parsons said that even if all those involved in the project are driven by good intentions, it should be audited and tested to make sure it’s not accidentally blocking Canadians from accessing safe sites.

“It’ll be important to assess and evaluate and ensure that the items that are being provided to CIRA from the government are in fact appropriate to block,” he said.

“I don’t think that it’s likely that the cyber centre is, you know, going to secretly use this to build a censorship networking path. I truly cannot see that happening, but mistakes could happen.”

Jones stressed the agency is collecting only anonymized statistics about how frequently the Canadian Shield blocked web addresses on its threat list.

“Nothing about Canadians as individual users. We get nothing about their usage patterns,” he said. 

While the CSE collects a wide array of foreign communications related to Canada’s interests — including phone calls and emails — its mandate restricts its ability to collect data on Canadians. Given the sensitive nature of its activities, it’s monitored by an independent watchdog group — which has reprimanded the agency over its metadata collection practices in the past.

As the Canadian operator of the threat-blocker, CIRA would have to comply with Canadian privacy laws, including the Personal Information Protection and Electronic Documents Act.

Wesley Wark, a University of Ottawa security and intelligence expert, said the project could do a lot of good — but attention should still be paid to the anonymized data it collects.

“The CIRA cyber shield is a new public initiative, so it certainly deserves scrutiny,” he said.

“Anonymization might be the most sensitive issue. [Data] anonymization is a tricky business, as CSE itself knows. It can fail and if it did, it might have impacts on privacy.

“If the Canadian Shield system functions properly, it could make a significant contribution to internet security while at the same time protecting privacy.”

CIRA spokesperson Spencer Callaghan said the authority has committed to a full annual privacy audit by a third-party auditor.

The rollout comes as the cyber agency is reporting more successful attempts at online fraud linked to the pandemic.

Jones said the agency has helped to take down more than 2,000 fraudulent sites and email addresses designed specifically for malicious cyber activity since the crisis began.

Some fraudsters have tried to fool people into clicking on malicious links promising Canada emergency response benefit (CERB) payments, while others have tried to lure Canadians with promises of personal protective equipment, treatments or cures.

“Not necessarily a rise in activity, but certainly a switch to the use of COVID-related themes as lures, which are very enticing for Canadians,” said Jones.

“The same level of activity, but more successful activity because of the nature of the lure.”

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Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin's Fourth Halving Arrives – Investor's Business Daily

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[unable to retrieve full-text content]

  1. Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin’s Fourth Halving Arrives  Investor’s Business Daily
  2. Iran fires at apparent Israeli attack drones: Mideast tensions  The Associated Press
  3. S&P 500 extends losing streak to sixth day, Dow up 210 points  Yahoo Canada Finance
  4. Stock Market Today: Dow, S&P Live Updates for April 19  Bloomberg
  5. Stock market today: Wall Street limps toward its longest weekly losing streak since September  CityNews Kitchener

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Netflix stock sinks on disappointing revenue forecast, move to scrap membership metrics – Yahoo Canada Finance

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Netflix (NFLX) stock slid as much as 9.6% Friday after the company gave a second quarter revenue forecast that missed estimates and announced it would stop reporting quarterly subscriber metrics closely watched by Wall Street.

On Thursday, Netflix guided to second quarter revenue of $9.49 billion, a miss compared to consensus estimates of $9.51 billion.

The company said it will stop reporting quarterly membership numbers starting next year, along with average revenue per member, or ARM.

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“As we’ve evolved our pricing and plans from a single to multiple tiers with different price points depending on the country, each incremental paid membership has a very different business impact,” the company said.

Netflix reported first quarter earnings that beat across the board on Thursday, with another 9 million-plus subscribers added in the quarter.

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Subscriber additions of 9.3 million beat expectations of 4.8 million and followed the 13 million net additions the streamer added in the fourth quarter. The company added 1.7 million paying users in Q1 2023.

Revenue beat Bloomberg consensus estimates of $9.27 billion to hit $9.37 billion in the quarter, an increase of 14.8% compared to the same period last year as the streamer leaned on revenue initiatives like its crackdown on password-sharing and ad-supported tier, in addition to the recent price hikes on certain subscription plans.

Netflix’s stock has been on a tear in recent months, with shares currently trading near the high end of its 52-week range. Wall Street analysts had warned that high expectations heading into the print could serve as an inherent risk to the stock price.

Earnings per share (EPS) beat estimates in the quarter, with the company reporting EPS of $5.28, well above consensus expectations of $4.52 and nearly double the $2.88 EPS figure it reported in the year-ago period. Netflix guided to second quarter EPS of $4.68, ahead of consensus calls for $4.54.

Profitability metrics also came in strong, with operating margins sitting at 28.1% for the first quarter compared to 21% in the same period last year.

The company previously guided to full-year 2024 operating margins of 24% after the metric grew to 21% from 18% in 2023. Netflix expects margins to tick down slightly in Q2 to 26.6%.

Free cash flow came in at $2.14 billion in the quarter, above consensus calls of $1.9 billion.

Meanwhile, ARM ticked up 1% year over year — matching the fourth quarter results. Wall Street analysts expect ARM to pick up later this year as both the ad-tier impact and price hike effects take hold.

On the ads front, ad-tier memberships increased 65% quarter over quarter after rising nearly 70% sequentially in Q3 2023 and Q4 2023. The ads plan now accounts for over 40% of all Netflix sign-ups in the markets it’s offered in.

FILE PHOTO: Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File PhotoFILE PHOTO: Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File Photo

Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File Photo (REUTERS / Reuters)

Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.

For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here

Read the latest financial and business news from Yahoo Finance

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Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack – OilPrice.com

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Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack | OilPrice.com



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Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

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  • Oil prices initially spiked on Friday due to unconfirmed reports of an Israeli missile strike on Iran.
  • Prices briefly reached above $90 per barrel before falling back as Iran denied the attack.
  • Iranian media reported activating their air defense systems, not an Israeli strike.

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Oil prices gave up nearly all of early Friday’s gains after an Iranian official told Reuters that there hadn’t been a missile attack against Iran.

Oil surged by as much as $3 per barrel in Asian trade early on Friday after a U.S. official told ABC News today that Israel launched missile strikes against Iran in the early morning hours today. After briefly spiking to above $90 per barrel early on Friday in Asian trade, Brent fell back to $87.10 per barrel in the morning in Europe.

The news was later confirmed by Iranian media, which said the country’s air defense system took down three drones over the city of Isfahan, according to Al Jazeera. Flights to three cities including Tehran and Isfahan were suspended, Iranian media also reported.

Israel’s retaliation for Iran’s missile strikes last week was seen by most as a guarantee of escalation of the Middle East conflict since Iran had warned Tel Aviv that if it retaliates, so will Tehran in its turn and that retaliation would be on a greater scale than the missile strikes from last week. These developments were naturally seen as strongly bullish for oil prices.

However, hours after unconfirmed reports of an Israeli attack first emerged, Reuters quoted an Iranian official as saying that there was no missile strike carried out against Iran. The explosions that were heard in the large Iranian city of Isfahan were the result of the activation of the air defense systems of Iran, the official told Reuters.

Overall, Iran appears to downplay the event, with most official comments and news reports not mentioning Israel, Reuters notes.

The International Atomic Energy Agency (IAEA) said that “there is no damage to Iran’s nuclear sites,” confirming Iranian reports on the matter.

The Isfahan province is home to Iran’s nuclear site for uranium enrichment.

“Brent briefly soared back above $90 before reversing lower after Iranian media downplayed a retaliatory strike by Israel,” Saxo Bank said in a Friday note.

The $5 a barrel trading range in oil prices over the past week has been driven by traders attempting to “quantify the level of risk premium needed to reflect heightened tensions but with no impact on supply,” the bank said, adding “Expect prices to bid ahead of the weekend.”

At the time of writing Brent was trading at $87.34 and WTI at $83.14.

By Tsvetana Paraskova for Oilprice.com

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