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Monthly Archives: May 2021
Netherlands, The Consumer Price Index nsa (YoY) remains unchanged at 1.9% in April – FXStreet
Posted: May 11, 2021 at 11:02 pm
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Preventing Cyberattacks and the Risk of Data Breaches to Critical Infrastructure – Inside NoVA
Posted: at 11:02 pm
MCLEAN, Va., May 11, 2021 /PRNewswire/ -- Onclave Networks, a global cybersecurity leader specializing in securing OT/IoT devices and systems, views the adoption of Zero Trust guidelines as essential for protecting critical infrastructure.
"Attackers are more sophisticated than ever," said Don Stroberg, CEO of Onclave. "Operational technology is too complex and diverse to protect with a passive approach or a continued reliance on IT security solutions. It also means a near-infinite number of attack vectors to exploit. Our platform is purpose-built to secure OT/IoT systems and is based on Zero Trust principles. Our solution greatly reduces the number of potential attack surfaces, and is the ideal choice for mitigating the risk of breaches to OT/IoT networks."
Critical infrastructure and healthcare facilities are particularly vulnerable targets. Power plants, refineries, and hospitals can have tens of thousands of non-IT devices as an example. A complex network of devices means a potentially innumerable number of vulnerable endpoints that can be exploited, increasing the risk and cost when it comes to ensuring the protection and integrity of the network.
Onclave recommends that businesses across industries should adopt a Zero Trustframework: the idea that trust is verified at each endpoint before access is granted to any device, system or user. "This is the core principle of the Onclave TrustedPlatform. Our unique solution continuously reassesses trust to ensure the integrity of your network," Stroberg said.
According to industry data:
*Interpol reports "an alarming rate of cyberattacks aimed at major corporations, governments, and critical infrastructure."
*Ransomware attacks are up 800%.
The National Security Agency (NSA) recently released the Cybersecurity Advisory, "Stop Malicious Cyber Activity Against Connected Operational Technology", for National Security System (NSS), Department of Defense (DoD), and Defense Industrial Base (DIB) operational technology (OT) owners and operators. In the memo, the NSA stated, "While there are very real needs for connectivity and automating processes, operational technologies and control systems are inherently at risk when connected to enterprise IT systems. Seriously consider the risk, benefits, and cost before connecting (or continuing to connect) enterprise IT and OT networks."
The National Institute of Standards and Technology (NIST) recently published its Zero Trust Architecture (SP 800 - 207) for organizations to adopt the Zero Trust principles. It requires strong authentication and continuous monitoring for any anomalous behavior before access is given. This includes visibility as well as controlled communications between remote users, devices, applications, workloads, data centers and public cloud environments.
Onclavealigns with both NIST and NSA recommended guidelines. The Onclave TrustedPlatform creates cryptographically separate OT networks while still allowing them to share the IT infrastructure. Onclave also supports Zero Trust principles by moving away from "trust, then verify" to "never trust, verify first", providing continuous monitoring and offering the capability to isolate and contain threats. "We are pioneers in developing a proven solution that immediately protects trusted OT/IoT systems and devices - significantly improving your enterprise's overall network security and making it most resilient," Stroberg said.
About Onclave Networks, Inc.
Based intheWashington, D.C., area, Onclave Networks, Inc. is aglobal cybersecurity leader that specializes in securing operational technology (OT/IoT) through private networks. Onclave provides the first true, secure communications platform based on the Zero Trust framework. Our solution protects both legacy and new operational technologies from cyberattacks and other unauthorized access. Onclave makes trusted secure communications a standardfor all by providing the fastest path to a more secure, simplified, andcost-effective alternative to today's solutions. For more information, contact info@onclavenetworks.comor visit onclavenetworks.com.
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Scandal: How a brand-new Toyota Hilux car belonging to NSA vanished at a hotel in Kumasi – GhanaWeb
Posted: at 11:02 pm
Almost two years since a Government of Ghana car vanished at the premises of a hotel in Kumasi, Police and authorities seem to have no clue.
The brand-new 2018 Toyota Hilux Pickup was allegedly stolen, a couple of months after it was acquired.
Angel FMs Saddick Adams tracks back events surrounding the loss of the vehicle and what we know so far.
Bankrupt NSA Has No Car
The National Sports Authority, the body mandated to regulated Sports in the country, has for some years, gone bankrupt. The body has been at the receiving end of several law suits.
In February 2017 for instance, had its bank accounts blocked after one of its creditors obtained a court order in bid to retrieve monies owed them over the past four years. The creditor won the suit and the only vehicle for the operations of the office confiscated. The Spokesperson Fredericka Davies-Mensah confirmed to newsmen that, Policemen stormed the premises with a bailiff and had the car taken away.
Top staff of the Authority had to do operational rounds in their private vehicle.In November 2018, the NSA acquired two new Toyota Hilux Pick up cars for the use by the body, costing around GHC310,000.
One of the vehicles was kept in a pool at the Authority while the other was handed over to the Director General of the Authority, Professor Peter Twumasi, who was appointed in December 2018, weeks after the vehicles arrived.
Vehicle Not Registered by GV
Despite a Government of Ghana Directive for all vehicles acquired in the name of GoG to be registered under GV, the two vehicles failed to adhere to the directives for unknown reasons.
The vehicle was registered GX6551-18. According to checks by Saddick Adams, the vehicle was first insured under a third-party agreement.
Disappearance of Vehicle and Drivers Narration
On September 5, 2019, the National Sports Authority Director was chauffeured to Kumasi by a driver of the NSA, by name Michael Andoh.
According to the driver, he had dropped the NSA Director at his residence near KNUST and proceeded to lodge at OWASS Hotel, some few kilometers from the KNUST Campus.
Mr Andoh narrated that, upon reaching the hotel, he was called by the aide to the NSA boss to drive to one hospital in the Ashanti Regional Capital, where a staff of the NSA was on admission.
Andoh, the driver drove in the company of the NSA Directors aide to see the ailing staff. They both returned to the Hotel around 7pm. He parked the car at the hotels premises and accompanied the Directors Personal Assistant to the road side where he picked a car.
Andoh then came back to the hotel, inspected the car and went into his room to sleep.
Between 3-4am on the dawn of 6th September 2019, Andoh says he heard loud knocks on his door only to open and meet the security man of the hotel. The NSA driver claim he was told by the security man that, the Directors Personal Aide had been calling for several times and he Andoh was not picking.
He then checked his phone to see several missed calls from the PA.
He called back and was told by the PA that, the Director General had ordered for the two to go back to the hospital again to transfer the ailing staff since his condition had deteriorated.
Andoh says he was hesitant, since he knew it was impossible to get a doctor to transfer a patient at that time of the night and even if they were successful, the patient would have to be transported via an ambulance and not the NSA pickup.
He however picked his keys and dressed up to go pick the car since the order was from his boss. He got down to the car par and lo and behold, the car had vanished without any breakages or traces of damage.
The security officer at the hotel claimed he inspected the compound around 2am and the vehicle was intact, but here, it had disappeared in less than an hour without the security man getting any hint.
Andoh called his boss to report the incident and the two made formal complaints at the KNUST Police Stations. The security man at the hotel and Michael Andoh, the driver, were detained for some few hours and released.
The missing vehicle had three original keys, two of which were with the driver of the vehicle. The other key was with the Transport Officer at the National Sports Authority in Accra. The two keys are still with the beleaguered driver till date.
Conflicting Accounts
In a sharp contradiction to the drivers narration, the Director General of the NSA, in an interview with Joy FM reporter Muftawu Nabila said the car was with his driver Michael Andoh and he was robbed.
Our reporters also gathered that, a facility near the Hotel of the incident had CCTV Cameras installed but when the driver with hotel management tried to access it to find out if they could trace the incident, the CCTV did not function that night, Michael claimed.
Drivers Hotel Changed
The driver, Michael Andoh reveals that, he has been driving at the NSA for over 12 years and anytime they travel to Kumasi, he lodges at the Eno Yeboah Hotel near the Kumasi stadium. He parks his car at the stadium for maximum security before he returns to the hotel to pass the night.
According to him, this had always been the practice.
But few months before the vehicle was stolen, his boss, Mr Twumasi instructed that he changes his hotel to sleep closer to him, at the KNUST Hostel, reason for the decision to lodge at this new hotel where the car was stolen.
When our reporters went to the OWASS Hotel in April 2021, the security man at the centre of events, had been relieved of his duties and no longer works at the hotel. His whereabout were not disclosed.The Police had also not invited Andoh, neither had they contacted the security man again, after they were released a day after the car disappeared.
NSA Institutes Internal Investigation
On 10th September 2019, the NSA Director set up a 3-member Committee to assist the investigative bodies and agencies with the following terms and references.
i.Unravel the circumstances that led to the disappearance of the of the vehicle;ii.Liaise with the National Security including the Police in their investigation.iii.Make recommendations to the management.
After few months of the committees investigations, the chairman of the committee was transferred from the head office to the Greater Accra NSA office, which caused delays in their operations.
As at 7th May 2021, before filing this story, the police had yet to submit any report to the Ministry of Sports or NSA.
When our reporters contacted the Director General Professor Twumasi, he indicated that matter was still with the Police and investigations underway.
He however added that, the car has been insured against theft so he is hopeful it would be replaced.
New Car Acquired
The National Sports Authority had to rent a Jeep car to be used by the Director General, at a cost of 500 cedis day for Accra and 800 cedis outside Accra, for nearly six months after the disappearance of the official vehicle.
Recently, the NSA acquired a Land Cruiser Prado to be used by the Director as his official car.
The controversial missing of the car, for almost two years, without any trace, is still a matter causing lot of musings and murmurings within and around the coffers of the debt-ridden NSA.
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The next frontier of warfare is online – Salon
Posted: at 11:02 pm
Sometime in mid-2009 or early 2010 no one really knows for sure a brand new weapon of war burst into the world at the Natanz nuclear research facility in Iran. Unlike the debut of previous paradigm-shattering weapons such as the machine gun, airplane, or atomic bomb, however, this one wasn't accompanied by a lot of noise and destruction. No one was killed or even wounded. But the weapon achieved its objective to temporarily cripple the Iranian nuclear weapon program, by destroying gas centrifuges used for uranium enrichment. Unfortunately, like those previous weapons, this one soon caused unanticipated consequences.
The use of that weapon, a piece of software called Stuxnet widely concluded to have been jointly developed by the United States and Israel, was arguably the first publicly known instance of full-scale cyberwarfare. The attack deployed a software vulnerability or exploit, called a zero-day, buried so deeply in computer code that it remains undetected until someone a team of hackers, a criminal, an intelligence or law enforcement agency activates it. We've all heard of, and perhaps even been victimized by, criminal hacks that may have pilfered our credit card numbers and passwords, or been spammed by suspicious emails that invite us to claim supposed Nigerian fortunes. But zero-days operate on a different level entirely.
"Zero-days offer digital superpowers," New York Times cybersecurity reporter Nicole Perlroth writes in "This Is How They Tell Me the World Ends: The Cyberweapons Arms Race."
"Exploiting a zero-day, hackers can break into any system any company, government agency, or bank that relies on the affected software or hardware and drop a payload to achieve their goal, whether it be espionage, financial theft, or sabotage. There are no patches for zero-days, until they are uncovered. It's a little like having the spare key to a locked building."
Such capabilities, says Perlroth, make zero-days "one of the most coveted tools in a spy or cybercriminal's arsenal."
As with any other highly coveted commodity, a vast covert global market has sprung up to meet the demand for zero-days. Perlroth explains that this invisible digital trade was nurtured and encouraged by the U.S. intelligence community. As former National Security Agency contractor Edward Snowden's leaked documents revealed, the NSA not only developed its own zero-days and hacking tools, but beginning in the 1990s started to pay out first thousands, then eventually millions of dollars to the world's most skilled hackers to ferret out security holes in widely used software packages, finding backdoors that could be used to overcome increasingly sophisticated security and encryption protections.
The vulnerabilities were cataloged, filed, and gathered into a closely held, superclassified stockpile a digital arsenal that could be used for espionage, surveillance, and actual cyberwarfare, all without any oversight or outside control. Among many other things, the NSA could now easily track anyone's iPhone at will, read their email, access their contacts, even tap into cameras and microphones.
The NSA truly began to exercise its digital superpowers during the post-9/11 war on terrorism. At first, many of the hackers laboring to develop those tools were kept mostly in the dark about how they were being used, but eventually that changed. "In the years following 9/11, the NSA decided to give its top analysts a glimpse into the fruits of their labors," Perlroth explains. "In a secure room at Fort Meade, the officials projected more than a dozen faces onto a bright screen. Each man on the screen, the analysts were told, was dead thanks to their digital exploits."
Snowden's revelations were only part of the story. As the U.S. sought to expand its stockpile to stay ahead of ever-changing technological upgrades and the capabilities of possible adversaries including Russia, China, and Iran, the American grip on the market began to slip away and other players began to get into the game. When Stuxnet inevitably spread from its narrow and carefully chosen Iranian target to work its way across the world's computers via the internet, the potential advantages of zero-days became clear to everyone and were available to any nation, any group, any organization willing to pay. Former NSA hackers set up shop, joining a burgeoning legion of international hackers looking to cash in, not all of them very picky about their clientele.
In effect, Perlroth explains, it has placed us in the midst of a new arms race, an ever-accelerating competition of offense vs. defense, move and countermove, nearly identical to the nuclear arms race of the Cold War. Former NSA director Michael Hayden noted in a 2013 speech at George Washington University that Stuxnet "has a whiff of August, 1945." "Somebody just used a new weapon,'' he continued, "and this weapon will not be put back in the box."
He was alluding to the first use of the atomic bomb on Hiroshima, but zero-days have proliferated around the world far easier and faster than nukes. "The internet has no borders," writes Perlroth. "No cyberattack can be confined to one nation's citizens anymore."
As with the atomic bomb, we've developed a weapon to protect ourselves which has now boomeranged back upon us. That's been demonstrated in recent years by high-profile incidents such as Russia's interference with the 2016 U.S. presidential election, Iranian attacks on Las Vegas casinos, North Korea's assault on Sony Pictures, the SolarWinds attack that the U.S. is still yet to recover from, and others that Perlroth details including a hacking attack on former First Lady Michelle Obama, and Russia's outright cyberwarfare campaign against Ukraine's power grid and infrastructure.
"Nations are now investing far more time and money in finding vulnerabilities than the commercial world, and the open-source community, is spending to fix them," writes Perlroth. "Russia, China, North Korea, and Iran are stockpiling their own zero-days and laying their logic bombs. They know our digital topography well; in too many cases, they are already inside."
"The world is on the precipice of a cyber catastrophe," she concludes.
Perlroth has been covering the cybersecurity beat for a long time and clearly knows her subject extremely well, which may be the reason that "This Is How They Tell Me the World Ends" feels long and somewhat meandering. It's a complex story with many players and parts, and she perhaps tries to cover a bit too much ground, to the extent that the book somewhat loses focus along the way. But it's a vitally important topic that requires far more attention and concern, before the U.S. finds itself blindsided when an adversary decides to unleash full-scale cyberwar on us.
Francis Ford Coppola's 1974 film "The Conversation," about a surveillance expert played by Gene Hackman, ends with Hackman's character so consumed with paranoia that he literally tears apart his own apartment searching for a nonexistent listening device. After reading Perlroth's book, I felt a little paranoid myself, eyeing my own laptop and iPhone. (Maybe that's why her author bio notes that she "increasingly prefers life off the grid" in her family's "cabin in the woods.")
This article was originally published on Undark. Read the original article.
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National Sheep Association (NSA) survey reveals alarming trend in sheep worrying by dog attacks | News and Star – News & Star
Posted: at 11:01 pm
MORE than two thirds of the UKs sheep farmers responding to a recent survey have experienced an increase in sheep worrying attacks by dogs during the past year.
This troubling statistic is part of a concerning set of findings released by the National Sheep Association (NSA) from its recent farmers survey assessing the incidence and impact of sheep worrying by dog attacks across the UK.
NSA received a record-breaking response for its 2021 survey specifically aimed at farmers who had experienced dog attacks in the past year. The increase in contributions indicates the scale of the serious problem. On average, each respondent to the survey experienced seven cases of sheep worrying during the past year resulting in five sheep injured and two sheep killed per attack. Estimated financial losses through incidents of sheep worrying of up to 50,000 were recorded, with an average across all respondents of 1570. However, most respondents received no or very little compensation.
NSA Chief Executive Phil Stocker says: There is still much work to do to continue the education of the dog owning public to ensure the future safety and welfare of both farmers sheep flocks and pet owners much loved dogs and this needs to come from strengthened countryside use guidelines and stricter legislation.
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A Zero Trust Mindset Replacing the Age of Innocence in Cybersecurity – The National Interest
Posted: at 11:01 pm
In the face of repeated major exploitations of critical U.S. networks, it is past time for the U.S. government to recognize that traditional security systems such as perimeter entry controls or whitelists are no longer adequate. As the SolarWinds hack proved, any security system can be penetrated with enough time and effort. Cybersecurity must be based on zero trust, which assumes that threats exist continually both inside and outside a network or cloud environment. A strategy of zero trust is based on the need to continuously monitor and validate the presence of every individual, organization, device, and piece of information on a network.
In the past year, we have seen just how bad things can get when a lack of planning leads to the worst-case scenario becoming the new reality. A country without a contingency plan for an epidemic has disrupted life as we know it for more than a year. An electric grid without weatherproofing devastates an entire state. Networks without proper security are readily hacked. Planning and preparation for the so-called once in a century event should be standard for all critical infrastructure, given how frequently such events actually occur.
While not acts of God, devastating attacks on our cybersecurity infrastructure can produce results as bad as or worse than any pandemic or natural disaster. Recent intrusions, from the SolarWinds breach to an attack on a Florida towns water supply, continue to expose U.S. industry and government as desperately ill-prepared.
For years, there have been calls for comprehensive cybersecurity planning in the public and private sector to stave off attacks by domestic and international threats. Progress has been mixed. While the Department of Defense (DoD) has made strides in defining requirements and implementing solutions that will strengthen and protect IT networks, there is much that needs to be done.
We heard about some of this progress during the recent hearing on Future Cybersecurity Architectures before the Senate Armed Services Committee (SASC). Senators and witnesses from the National Security Agency (NSA) and the DoD focused heavily on zero trust architecture, a cybersecurity framework that continually assesses the trustworthiness of access requests to information resources. Testimony from DoD witnesses, NSA Director of Cybersecurity Rob Joyce, Senior Information Security Officer/Chief Information Officer for Cybersecurity David McKeown, and Senior Military Advisor for Cyber Policy to the Under Secretary of Defense for Policy Rear Admiral William Chase extolled the virtues of zero trust as the new waypoint on the journey to a secure future.
The National Security Agency, a strong advocate of the new approach, explained it this way: Zero Trust is a security model, a set of system design principles, and a coordinated cybersecurity and system management strategy based on an acknowledgment that threats exist both inside and outside traditional network boundaries. The Zero Trust security model eliminates implicit trust in any one element, node, or service and instead requires continuous verification of the operational picture via real-time information fed from multiple sources to determine access and other system responses.
Though far too soon for a victory lap, DoD has created programs to field much-needed capabilities that will strengthen cybers defenses. Likewise, Congress has driven the pace and funding for these programs since at least 2017. As noted in the Senate hearing referenced above, Rear Admiral Chase highlighted Comply-to-Connect (C2C) as an important foundational component of the DoDs Zero Trust initiative predicated on a simple principle: you can only protect what you know you have.
C2C establishes a framework of tools and technologies operating throughout a network infrastructure. This framework discovers, identifies, characterizes, and reports on all devices connected to the network. C2C does not require network managers or users to trust that the network is secure, as all users are both authorized access and are compliant with the minimum standards of security. This way, C2C allows for an environment of zero trust. In essence, all C2C users and devices must prove their legitimacy to be allowed to operate on DoD networks. Those devices that may be authorized but lack the proper security software can be remediated.
The bigger challenge, largely absent in the SASC hearing, is how to protect everything that is not what we would consider to be an Information Technology asset. The majority of these assetsmany of which can be easily deemed as criticalare part of Industrial Control Systems (ICS) used by the military. Simply put, even if IT networks were protected, every air conditioning unit, power outlet, and water main under DoD is a potential risk to mission readiness at every base, post, camp, and station across the Services. Arguably, C2C should be part of a broader cyber strategy for ICS as well as networks and nodes. The problem is that the managers for ICS do not naturally look to IT security folks to address the security of these other systems.
Despite the U.S. armed services investment in cybersecurity, the country still lacks a thorough cybersecurity strategy for securing the ICS environment. C2C is helping here, as some solutions provide the means to identify ICS vulnerabilities. But the defense department needs to do more of the hard work of securing ICS.
Our adversaries are getting smarter and constantly looking for vulnerabilities in our defenses. What better way to cut us off at our knees than by infiltrating a military bases electric grid and killing the power for the entire installation? Congress is watching to see how the DoD accounts for military ICS security, and will probably become more directive in the next NDAA. In addition, the Biden Administration has identified critical infrastructure cybersecurity as a priority, which is an indicator that military ICS will be a factor in any future federal cybersecurity planning.
In cybersecuritys age of innocence, it was assumed that electronic walls could be built sufficiently high and wide to be made impregnable. The reality is that for a variety of reasons, any network, ICS, and cloud environment can be hackedif not from the outside, then from within. Today, with the rose-colored glasses falling from our eyes, it is clear that only a strategy based on zero trust offers any chance of successful cyber defense.
Dan Gour, Ph.D., is a vice president at the public-policy research think tank Lexington Institute. He has a background in the public sector and U.S. federal government, most recently serving as a member of the 2001 Department of Defense Transition Team. You can follow him on Twitter at @dgoure and the Lexington Institute @LexNextDC.
Image: Reuters.
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Billionaire Elon a ‘Musk see’ on ‘mediocre’ episode of ‘SNL’
Posted: at 11:00 pm
Elon Musk hosted Saturday Night Live this week like a man with nothing to lose.
Thats probably because his net worth is $166 billion. Whats a 90-minute-long sketch show to a man with an income greater thansome countries defense budgets?
But 49-year-old Musk had been under pressure for weeks. He was the most controversial guest host of SNL since then-presidential candidate Donald Trump in 2015.
The Tesla and SpaceX entrepreneur appeared amid a flurry of anger because of his enormous wealth and his early pandemic skepticism. Cast members Andrew Dismukes, Bowen Yang and Aidy Bryant wrote critical tweets leading up to Musks gig, and there were reports that they might even opt out of the episode entirely in protest.
The boycott never happened. Yang appeared alongside Musk in multiple segments, the deafening fracas fizzled out and we got yet another mediocre episode of SNL
Shockingly, though, Musk was the best part.
The billionaire took the stage of Studio 8H dressed like a James Bond villain, and delivered a scorcher of a stand-up set that was funnier than the entire ensuing hour.
Im actually making history tonight as the first host with Aspergers to host SNL, he announced to applause. Or at least the first to admit it.
Brilliant. Like his first joke, the others werent safe.
A lot of times people are reduced to the dumbest thing they ever did, he said, acknowledging that he once smoked pot on Joe Rogans podcast.
Its like reducing OJ Simpson to murder. One time! Fun fact: OJ also hosted this show in 79. And again in 96. He killed.
Then came ugh the sketches.
They werent any good, but what was remarkable is that Musk who, as far as I know, never so much as appeared in a high school production of Guys and Dolls held his own with the more experienced cast.
The first was Generation Z Hospital, a stupid send-up of twentysomethings and hospital soap operas. He played a doctor that informed a group their pal had died. As a memorial, they passed around an urn with a Supreme logo on it and spoke in annoying youth-isms.
The next one was The Uli Show, a kind of Waynes World airing on Icelandic Public TV with Chloe Fineman and Mikey Day. Once again, Musk was the funniest character as a TV producer named Ragnarok who was in love with Uli.
Later on, he livened up Weekend Update as a financial expert attempting to explain cryptocurrencies to Michael Che.
What is Dogecoin? Che repeatedly asked him.
Well, it was created in 2013, Musk responded.
Prompted again and again, he finally concluded, Its an unstoppable financial vehicle thats going to take over the world.
Oh, so its a hustle?, replied Che.
Yeah, its a hustle.
Toward the end, Musk got silly. He played Wario Super Marios evil counterpart and cracked Nintendo cocaine jokes.
SNL head honcho Lorne Michaels was smart to bring on Musk now that the presidential election is long over and viewers arent staying home on Saturday nights as much while restrictions and curfews are lifted. The businessman, like him or not, reeled in viewers that hadnt tuned into the show in years.
Even if it was an average episode of Saturday Night Live, the host was a Musk see.
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Billionaire Elon a 'Musk see' on 'mediocre' episode of 'SNL'
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On SNL, Elon Musk Says He Has Asperger’s Syndrome – WebMD
Posted: at 11:00 pm
May 11, 2021 -- During the latest episode of Saturday Night Live, Tesla CEO Elon Musk said he was the first person with Aspergers Syndrome to host the variety sketch show.
Or at least the first person to admit it, he said during the opening monologue.
This may have been the first time that Musk has publicly said he has Aspergers, according to The Associated Press. At least one former SNL host, Dan Aykroyd, has also talked about having Aspergers, the AP noted.
Musk said it was an honor to be a host and emphasized that he meant it.
Sometimes after I say something, I have to say, I mean that, Musk explained, humorously noting that he often doesnt have a varied tone of voice.
Musk made pointed jokes about himself during the monologue and acknowledged that he often feels misunderstood.
I know I sometimes say or post strange things, but thats just how my brain works, he said. To anyone Ive offended, I just want to say, I reinvented electric cars and Im sending people to Mars in a rocket ship. Did you think I was also going to be a chill, normal dude?
Leading up to the episode, SNL faced criticism for inviting Musk to be a host. Critics said the show was celebrating a billionaire who spread misinformation online by downplaying the severity of the COVID-19 pandemic.
During the early months of the pandemic, Musk posted on social media about the pandemic response and said the coronavirus panic is dumb, according to The Hollywood Reporter. In November, he contracted the virus and said it was a moderate case.
During one of the sketches, which featured a cowboy standoff, Musk joked that his character thought masks were dumb during a bank robbery.
OK, for a while, I thought masks were dumb, he said. But now, I think masks make sense.
Musk also brought his mother Maye on stage, and they recalled a time that Musk created a video game about space when he was 12. They joked that her Mothers Day gift would be Dogecoin, a cryptocurrency that Musk referenced several times throughout the episode.
Musk also appeared on Weekend Update as a Dogecoin expert and in sketches about Mars, post-quarantine parties and a murder trial with Mario characters, where he played a misunderstood Wario. For the first time, SNL was live-streamed internationally on YouTube in more than 100 countries.
WebMD Health News Brief
Saturday Night Live: S46 E18, May 8, Elon Musk.
Saturday Night Live: Elon Musk Monologue.
The Associated Press: Elon Musk shows humility and hubris as SNL host.
The Hollywood Reporter: Elon Musk Says in SNL Monologue That Hes the First Host With Aspergers Syndrome.
Saturday Night Live: Cowboy Standoff.
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Risky business: The Fed, and Elon Musk, sound the alarm bells on financial markets – Sydney Morning Herald
Posted: at 11:00 pm
Fed governor Lael Brainard, in a statement released with the report, referred to an elevated appetite for risk, citing the meme stock episode presumably a reference to the GameStop debacle as an example.
It isnt only equity markets where prices are near the top of their historical distribution, with Brainard saying corporate bond markets were also seeing elevated risk appetite and that the spreads of lower-quality speculative-grade bonds relative to Treasury yields were among the tightest the Fed had seen historically.
She said the failure of Archegos Capital Management the family office that blew up earlier this year, showering billions of losses on some of the worlds largest banks highlighted the potential for non-bank institutions like hedge funds and other leveraged investors to generate large losses within the financial system.
The Archegos event illustrates the limited visibility into hedge fund exposures and serves as a reminder that available measures of hedge fund leverage may not be capturing important risks.
The potential for material distress at hedge funds to affect broader financial conditions underscores the importance of more granular, higher-frequency disclosures, she said.
In the aftermath of the 2008 financial crisis regulation of banks was tightened substantially. A side-effect was to drive a significant amount of activity, particularly higher-risk activity, into the shadows of the financial system inhabited by less-regulated and less-visible entities like hedge funds, private equity and other non-bank institutions.
If markets are in bubble territory because of ultra-low rates, then any meaningful increase in inflation and consequent rise in real interest rates could burst them and, given how stretched valuations in most financial markets are and the levels of speculative activity in cryptocurrencies and meme stocks, cause chaos in financial markets.
As part of its information-gathering, the Fed conducts surveys of market participants and other parties, asking them for their view on risks to financial stability.
In the previous survey, conducted last September/October, the biggest perceived risk was political uncertainty, followed by corporate and small business defaults, insufficient fiscal stimulus and a resurgence of the pandemic. Stretched asset valuations came in at number five.
In the lead-up to the US elections and with the pandemic still raging, that ordering of risks was understandable.
The latest survey has vaccine-resistant strains of the virus at the top of the list of risks, followed by a sharp rise in interest rates, a surge in inflation, US-China tensions and risky asset valuations.
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A lot can change in six months and it isnt surprising that the combination of a spike in interest rates and inflation and their implications for riskier assets were elevated within the list of risks to financial stability.
If markets are in bubble territory because of ultra-low rates, then any meaningful increase in inflation and consequent rise in real interest rates could burst them and, given how stretched valuations in most financial markets are and the levels of speculative activity in cryptocurrencies and meme stocks, cause chaos in financial markets.
Low interest rates have also driven a surge in high-yield and unrated corporate debt (junk bonds). Last year the market for that high-yield debt in the US grew 25 per cent, or more than 3.5 times its historical average annual growth rate.
Spreads on those loans, and on leveraged loans, were very narrow relative to historical levels. A graphic in the Fed report shows that the excess bond premium the component of corporate bond yields not explained by risk-free rates or default risks is negative and among the lowest recorded for decades, which the Fed says (in its understated way) indicates a high risk appetite.
Federal Reserve board member Lael Brainard referred to an elevated appetite for risk in markets today.Credit:Bloomberg
So, equity market valuations are, by historical standards, stretched. There is increased speculative activity in meme stocks and cryptocurrencies. Increased initial public offerings, (especially listings of special purpose acquisition vehicles) also point to increased appetites for risk, as do spreads in corporate debt markets.
Leverage in banks is low but leverage in hedge funds is high and issuance of collateralised loan obligations the corporate debt equivalent of the collateralised debt obligations that nearly blew up the global financial system in 2008 is at record levels so far this year.
If you were grading risk factors for the global financial system now the pandemic would probably still remain at the top of the list but the longer negligible interest rates drive rising equity markets and tightening spreads on higher-risk corporate debt the greater the risk that any external shock creates a self-fuelling scramble by investors to dump their exposures.
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A surge in inflation expectations and interest rates is the obvious risk (albeit not the only one) of a shock that could trigger market implosions and another bout of severe market turbulence, financial instability and another crisis if the stretched valuations and high levels of riskier corporate indebtedness arent unwound before any threat emerges.
It is hard to see how that could happen unless the world experiences the rare combination of very strong economic without any material accompanying inflation.
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Navigo Proteins and MDimune Enter into a Research Collaboration on Affilin-Mediated Targeting of Extracellular Vesicles – BioSpace
Posted: at 10:59 pm
Solid tumor-specific scaffold protein ligands from Navigo combined with MDimunes BioDrone technology to create novel targeted extracellular vesicle-based therapeutics
Halle/Saale, Germany and Seoul, Korea, May 11th, 2021. Navigo Proteins, a protein engineering biotech company generating scaffold protein-based affinity ligands, and MDimune, a biotech company developing an innovative drug delivery platform based on exosome-like, nanosized cell-derived vesicles (CDVs), today announced a technology collaboration to achieve tissue-targeting of extracellular vesicles (EVs). The ongoing research combines Navigos target-binding Affilin molecules with MDimunes CDV technology, to enable Affilin-mediated delivery of CDVs specifically to solid tumor targets.
For the current collaboration, Navigo Proteins will contribute its existing solid tumor-specific Affilin molecules to decorate the surface of the exosome-like CDVs from MDimunes BioDrone technology, thereby pioneering next-generation, targeted extracellular vesicle-based therapeutics (See Figure 1).
Figure 1: Affilin-mediated tumor targeting of CDVs
Dr. Ulrich Haupts, Chief Scientific Officer of Navigo Proteins commented: We are looking forward to combining our selectivity-conferring Affilin molecules with MDimunes extracellular vesicles manufacturing platform, since this opens up an exciting new application for our scaffold protein-based Affilin molecules in the upcoming field of exosome-based therapeutics. The modular and highly engineerable Affilin technology can be a very attractive solution for the precise, targeted delivery of exosome-like vesicles, carrying different payloads to different target tissues.
Recently, we have invested significant efforts and resources to expedite effective steering of our vesicles, CDVs, to tumors or other resistant tissues. The current collaboration with Navigo Proteins is one of them highlighting our recent focus. Navigo Proteins demonstrated expertise in generating highly tissue-specific ligands will be key to enable this goal and ultimately build a foundation for our BioDrone platform technology, said Dr. Seung Wook Oh, Chief Scientific Officer of MDimune.
Affilin Affinity Ligands
Navigos Affilin molecules are target-specific, small, stable, highly engineerable, single-chain affinity ligands and are based on human Ubiquitin as a protein scaffold. Since Ubiquitin is an evolutionarily conserved natural human protein, also present in plasma, Affilin molecules have low immunogenic potential in humans and can also be directly used in various pre-clinical animal models.
Affilin molecules are currently being developed as antibody-alternatives in protein-drug conjugates, radio conjugates, CAR-T cell therapy, and as bi/multi-specific molecules by combining them with antibodies. With this collaboration, Navigo aims to extend the applicability of Affilin molecules to direct exosomes and extracellular vesicles to the target tissues of interest.
BioDrone Platform Technology
MDimunes BioDrone platform facilitates the production of CDVs, exosome-like, nanosized vesicles, in large quantities from various cell types by a proprietary extrusion method. CDVs are similar to exosomes in size, properties, and functions, but exhibit substantial advantages in yield that is more suitable for large-scale production and versatility to allow highly sophisticated engineering, starting from virtually any cell type. BioDrone technology is emerging as a highly versatile and scalable delivery system to address many human diseases, including cancer, neurodegeneration, and more.
While the current project is aimed at Affilin-CDV-mediated payload delivery to solid tumors, this technological advance will not only be limited to cancer but could be expanded to other tissues and diseases.
About Navigo Proteins GmbH
Navigo Proteins is a premier protein engineering company developing affinity ligands, based on its proprietary platform of selected, small, and stable, yet highly engineerable scaffold proteins. These ligands serve as target-binding proteins in biotherapeutic molecules (PRECISION TARGETING) or for commercial custom affinity purification of biologics (PRECISION CAPTURING).
Navigos PRECISION TARGETING unit creates proprietary Affilin molecules based on the human Ubiquitin scaffold a highly conserved, small (8.5kDa) and stable natural human protein. A major strength of the Precision Targeting toolbox is its modular engineerability. The target-specific Affilin molecules can be combined with a variety of carrier units for site-specific payload coupling as well as half-life extension moieties and function-conferring effector modules to convert them into different biopharmaceutical modalities. Navigos ligands are currently being developed as Affilin-drug conjugates, Affilin-radio conjugates, Affilin CAR-T cell therapy and can also be fused to antibodies to create robustly-to-produce bi-/multi-specific molecules (MabfilinTM/FabfilinTM).
For more information visit https://www.navigo-proteins.com/ and follow Navigo Proteins on LinkedIn.
About MDimune Inc.
MDimune, a South Korean biotech founded in 2015, has been committed to the development and implementation of state-of-the-art BioDrone platform technology. BioDrone is an innovative technology that relies on human-sourced CDVs, nanosized vesicles obtained from various cells by using a proprietary extrusion method to achieve target-specific drug delivery. With superior productivity compared to exosomes, BioDrone is emerging as a highly versatile and scalable delivery system to combat diverse debilitating human diseases, including cancer, neurodegeneration, and rare diseases.
MDimune is expanding its global network to harness effective tissue targeting strategies to achieve highly tissue-specific delivery of various cargos such as miRNA, siRNA, mRNA, and proteins. The company envisions applying this novel BioDrone platform to address various needs of pharmaceutical clients who are looking for effective drug carriers.
For more information visit http://www.mdimune.com/en/.
Navigo Proteins Contact
Dr. Oliver Schub
Director Business Development
oliver.schub@navigo-proteins.com
Tel.: +49 (0)345 27996330
MDimune Contact
Brin Choi
Manager, Business Development
Tel.: +82 (0)70+7826
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