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TSX futures rise ahead of Fed chair Powell's testimony

July 9 (Reuters) - Futures linked to Canada's main stock index rose on the back of metal prices on Tuesday, while investors awaited U.S. Federal Reserve Chair Jerome Powell's congressional testimony on monetary policy later in the day.

The S&P/TSX 60 futures were up 0.25% by 06:28 a.m. ET (1028 GMT).

The Toronto Stock Exchange's materials sector was set to re

Oil futures , dipped as fears over supply disruption eased after Hurricane Beryl, which hit major refineries along with the U.S. Gulf Coast, caused minimal impact.

Markets will be heavily focussed on Powell's two-day monetary policy testimony before the Senate Banking Committee, starting at 10 a.m. ET (1400 GMT), which can help investors gauge the Fed's rate-cut path.

Following last week's softer jobs data, market participants are now pricing in a 77% chance of a rate cut by the U.S. central bank in September.

The main macro event for the markets this week will be the U.S. consumer prices data due on Thursday, which can help assess the trajectory of inflation in the world' biggest economy.

Wall Street futures were also up on Tuesday after the S&P 500 (.SPX), opens new tab and Nasdaq (.IXIC), opens new tab touched record closing highs in the previous session.

In Canada, fears of the economy slipping into recession advanced after the latest data showed that the unemployment rate rose to a 29-month high in June.

Traders are now pricing in a 65% chance of another cut by the Bank of Canada, which already trimmed interest rates last month.

In corporate news, Cenovus Energy (CVE.TO), opens new tab said it is demobilizing some staff at its Sunrise oil sands project in northern Alberta as a precaution due to the evolving wildfire situation in the area.

OpenAI's internal AI details stolen in 2023 breach, NYT reports
July 4 (Reuters) - A hacker gained access to the internal messaging systems at OpenAI last year and stole details about the design of the company's artificial intelligence technologies, the New York Times reported, opens new tab on Thursday. The hacker lifted details from discussions in an online forum where employees talked about OpenAI's latest technologies, the report said, citing two people familiar with the incident. However, they did not get into the systems where OpenAI, the firm behind chatbot sensation ChatGPT, houses and builds its AI, the report added. OpenAI executives informed both employees at an all-hands meeting in April last year and the company's board about the breach, according to the report, but executives decided not to share the news publicly as no information about customers or partners had been stolen. OpenAI executives did not consider the incident a national security threat, believing the hacker was a private individual with no known ties to a foreign government, the report said. The San Francisco-based company did not inform the federal law enforcement agencies about the breach, it added. OpenAI in May said it had disrupted five covert influence operations that sought to use its AI models for "deceptive activity" across the internet, the latest to stir safety concerns about the potential misuse of the technology. The Biden administration was poised to open up a new front in its effort to safeguard the U.S. AI technology from China and Russia with preliminary plans to place guardrails around the most advanced AI Models including ChatGPT, Reuters earlier reported, citing sources.
Are US development jobs falling off a cliff?
Companies are going to have fewer people and fewer layers. Ten years from now, the software development circuit may have fewer jobs, higher salaries, and more product-centric work. The reason behind it is the rapid development of AI, AI has approached human beings at the intelligence level, a lot of work relying on thinking ability may be handed over to AI, while emotion is still the territory of human beings, how to communicate and collaborate is the most important ability in the near future. When Indeed's chart for software development and operations jobs was released, we found that, as the chart shows, there was a peak in early 2022, but after that there was a precipitous decline.
World's deepest diving pool opens in Poland, 45.5 meters deep
The world's deepest diving pool, Deepspot, opened this weekend near the Polish capital Warsaw. The 45.5-meter pool contains artificial underwater caves, Mayan ruins and a small shipwreck for scuba divers and free divers to explore. Deepspot can hold 8,000 cubic meters of water, more than 20 times the capacity of a normal 25-meter swimming pool. Unlike ordinary swimming pools, Deepspot can still open despite Poland's COVID-19 epidemic prevention restrictions because it is a training center that provides courses. The operator also plans to open a hotel where guests can observe divers at a depth of 5 meters from their rooms. "This is the deepest diving pool in the world," Michael Braszczynski, 47, Deepspot's director and a diving enthusiast, told AFP at the opening yesterday. The current Guinness World Record holder is a 42-meter-deep pool in Montegrotto Terme, Italy. The 50-meter-deep Blue Abyss pool in the UK is scheduled to open in 2021. On the first day of Deepspot's opening, about a dozen people visited, including eight experienced divers who wanted to pass the instructor exam. "There are no spectacular fish or coral reefs here, so it can't replace the ocean, but it is certainly a good place to learn and train safe open water diving," said 39-year-old diving instructor Przemyslaw Kacprzak. "And it's fun! It's like a kindergarten for divers."
The largest password leak in history exposes nearly 10 billion credentials
The largest collection of stolen passwords ever has been leaked to a notorious crime marketplace, according to cybersecurity researchers at Cybernews. This leak, dubbed RockYou2024 by its original poster “ObamaCare,” holds a file containing nearly 10 billion unique plaintext passwords. Allegedly gathered from a series of data breaches and hacks accumulated over several years, the passwords were posted on July 4th and hailed as the most extensive collection of stolen and leaked credentials ever seen on the forum. “In its essence, the RockYou2024 leak is a compilation of real-world passwords used by individuals all over the world,” the researchers told Cybernews. “Revealing that many passwords for threat actors substantially heightens the risk of credential stuffing attacks.” Credential stuffing attacks are among the most common methods criminals, ransomware affiliates, and state-sponsored hackers use to access services and systems. Threat actors could exploit the RockYou2024 password collection to conduct brute-force attacks against any unprotected system and “gain unauthorized access to various online accounts used by individuals whose passwords are included in the dataset,” the research team said. This could affect online services, cameras and hardware This could affect various targets, from online services to internet-facing cameras and industrial hardware. “Moreover, combined with other leaked databases on hacker forums and marketplaces, which, for example, contain user email addresses and other credentials, RockYou2024 can contribute to a cascade of data breaches, financial frauds, and identity thefts,” the team concluded. However, despite the seriousness of the data leak, it is important to note that RockYou2024 is primarily a compilation of previous password leaks, estimated to contain entries from a total of 4,000 massive databases of stolen credentials, covering at least two decades. This new file notably includes an earlier credentials database known as RockYou2021, which featured 8.4 billion passwords. RockYou2024 added approximately 1.5 billion passwords to the collection, spanning from 2021 through 2024, which, though a massive figure, is only a fraction of the reported 9,948,575,739 passwords in the leak. Thus, users who have changed their passwords since 2021 may not have to panic about a potential breach of their information. That said, the research team at Cybernews stressed the importance of maintaining data security. In response to the leak, they recommend immediately changing the passwords for any accounts associated with the leaked credentials, ensuring each password is strong and unique and not reused across different platforms. Additionally, they advised enabling multi-factor authentication (MFA), which requires an extra form of verification beyond the password, wherever possible, to strengthen cyber security. Lastly, tech users should utilize password manager software, which securely generates and stores complex passwords, mitigating the risk of password reuse across multiple accounts.
Former British PM Sunak appoints Conservative Party shadow cabinet
On July 8, local time, former British Prime Minister Sunak announced the appointment of the Conservative Party Shadow Cabinet, which is the first shadow cabinet of the Conservative Party in 14 years. Several former British cabinet members during Sunak's tenure as prime minister were appointed to the Conservative Party Shadow Cabinet, including James Cleverly as Shadow Home Secretary and Jeremy Hunt as Shadow Chancellor of the Exchequer. But former Foreign Secretary Cameron was not appointed as Shadow Foreign Secretary. In addition, the new leader of the Conservative Party will be elected as early as this week. On July 4, the UK held a parliamentary election. The counting results showed that the British Labour Party won more than half of the seats and won an overwhelming victory; the Conservative Party suffered a disastrous defeat, ending its 14-year continuous rule.