Colonial Pipeline Reopens Following Ransomware Attack
The Colonial Pipeline, a major conduit for fuel in the eastern U.S., has been reopened. It had been closed since last week, following a cyberattack by a criminal group called DarkSide.
“The operator of Colonial Pipeline said on Wednesday that it had started to resume pipeline operations,” writes Clifford Krauss of the New York Times. “The pipeline, which stretches from Texas to New Jersey, had been shut down since Friday after a ransomware attack. Over the last few days, Colonial has opened segments of the pipeline manually to relieve some supply pressures in a few states, including Maryland and New Jersey.”
Cryptocurrency Market Falls After Tesla Decision
Citing environmental concerns related to cryptocurrency mining, Tesla has decided not to accept bitcoin as a form of payment for its cars.
“Hundreds of billions of dollars were wiped off the entire cryptocurrency market after Tesla CEO Elon Musk tweeted that the electric vehicle maker would suspend car purchases using bitcoin,” writes Arjun Kharpal of CNBC.
Mining cryptocurrency requires enormous amounts of electric power, which is most often generated by burning carbon-rich fossil fuels such as coal and oil.
Toyota Works Around Global Chip Shortage
Toyota has apparently overcome supply chain issues and the global shortage of microchips to retain its dominance in a super-competitive field of contenders.
“In a tumultuous period for the auto industry, Toyota quickly pulled ahead of the pack, straightening out its supply chain and ramping up production in order to meet rising demand for cars. The world’s No. 1 automaker now stands primed for the V-shaped Covid recovery eluding many of its peers, which are having to scale back because of the global chip shortage,” writes River Davis of Bloomberg Business. “By maneuvering through the disruptions of the pandemic, Toyota rose to become the world’s largest automaker last year, wresting the title back from Volkswagen AG. Japanese rival Nissan Motor Co. by contrast reported an operating loss of 151 billion yen for the fiscal year on Tuesday. Honda Motor Co. is set to announce earnings Friday, with analysts predicting, on average, a profit of 549 billion yen, down about 13% from the previous year.”
Will WFH Become a Long-Term Trend?
Is the work-from-home phenomenon here to stay, or will it slowly disappear as the pandemic subsides and society returns to normal? Some observers are raising questions about the longevity of WFH strategies, and suggesting that WFH may be more than a temporary trend.
“Today’s technology makes it easy to work from anywhere. With a remote work option, individuals can fit important life events into their day, like attending health care appointments. When employees have the flexibility to take care of personal obligations, they are happier and more productive,” writes Jaclyn Greenberg of WIRED. “A flexible work location is especially helpful for parents because they can spend more time with their children than those that spend a full day in the office. They can be available for school drop off or pick up, or pop out for a school performance or sporting event.”