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Man charged with stealing NY Fed Reserve Bank source code

Authorities arrested a computer programmer today and charged him with stealing source code worth $9.5 million from the Federal Reserve Bank of New York.

Bo Zhang, 32, is accused of taking the software last summer while he was working as a contract employee assigned to the Federal Reserve Bank of New York.

Zhang allegedly admitted that in July 2011 he checked out and copied the code onto an external hard drive and on to his own computers, according to the complaint unsealed today. He said he used the code in connection with a computer programming training company he operated, … Read more

LightSquared says GPS interference testing was rigged

LightSquared, the company seeking final FCC approval to build a nationwide 4G wireless wholesale network, said that a test showing interference between its service and GPS systems was rigged by manufacturers of GPS receivers and government workers to produce bogus results.

On a conference call Wednesday with reporters, LightSquared executives Jeffrey Carlisle and Geoff Stearn, along with paid consultant Ed Thomas, a former chief engineer at the Federal Communications Commission, said that recent tests conducted by the Air Force Space Command on behalf of the Space-Based Positioning, Navigation, and Timing Executive Committee (PNT EXCOM) were set up to produce negative … Read more

Tomorrow's vending machines may scan your face

Who needs to bother with a fitting room when you can use a Kinect to model outfits?

Between pitches for mobile payments, new self-checkout machines, and virtual customer service assistants, technology rules the show floor at the 101st Annual National Retail Federation Convention and Expo in New York, taking place this week.

This year it's possible to try on a new dress -- with matching purse, belt and jewelry -- in just a few seconds using a Microsoft Kinect camera. You become a paper doll on the television monitor with FaceCake's Swivel, a virtual dressing room that will … Read more

FCC to investigate Verizon's $2 convenience fee

Verizon Wireless's new $2 "convenience fee" for paying a bill online has outraged consumers, and today the Federal Communications Commissions said it will look into the fee.

"On behalf of American consumers, we're concerned about Verizon's actions and are looking into the matter," the FCC said in its statement.

The FCC isn't providing further information about its investigation. The New York Times was the first to report the FCC's statement.

Verizon confirmed on Thursday that beginning January 15, it will charge customers $2 to pay their bills online using the one-time … Read more

How to complain about online-purchase problems

It's a booming holiday sales season for online merchants. As CNET contributor Don Reisinger reports, U.S. consumers spent $32 billion online from November 1 to December 18, according to research firm ComScore.

That's 18 percent more than they spent in the same period of 2010. While most online sales go smoothly, there's always a risk of a product you ordered from a Web site not arriving on time, or a product other than the one you purchased being shipped, among other possible problems.

A reader contacted me yesterday about an order he placed on Cyber Monday (… Read more

With FAA's blessing, Boeing's next-gen 747 nears delivery

Boeing said today that it has received FAA certification for its flagship 747-8 Intercontinental, putting the plane on course for first delivery to its launch partner Lufthansa "early next year."

The company said the certification from the U.S. Federal Aviation Administration "validates that the design of the 747-8 Intercontinental is compliant with all aviation regulatory requirements and the production system can produce a safe and reliable airplane, conforming to the airplane's design."

The aviation giant first unveiled the Intercontinental last February, and the plane made its first flight last March 20.

The new 747 … Read more

LightSquared network still harms GPS, says draft report

LightSquared's planned 4G wireless network caused "harmful interference" to the majority of GPS receivers used in recent government testing of the network, according to reports citing a draft version of the test results.

LightSquared plans to offer network services like wholesale Internet access to companies such as Best Buy, but concerns about the network knocking out personal or military GPS devices have been raised by the Defense Department, the Federal Aviation Administration, and GPS companies and users. The LightSquared network uses frequencies that are near to those used by GPS devices.

In response to earlier tests, the … Read more

House subcommittee advances spectrum bill

A spectrum bill has passed through a subcommittee in the House of Representatives that authorizes FCC incentive auctions and also allocates spectrum to public safety.

On Thursday, the communications and technology subcommittee of the House Energy and Commerce Committee approved the Jumpstarting Opportunity with Broadband Spectrum Act (JOBS Act).

The legislation authorizes the Federal Communications Commission to create an auction for selling wireless spectrum voluntarily released by TV broadcasters. And it also includes provisions for allocating spectrum and funding a nationwide public safety mobile broadband network.

Chairman Greg Walden (R-Ore.), who sponsored the bill, said it would help create 100,… Read more

Facebook's FTC settlement won't change much, if anything

Federal Trade Commission officials spent the day touting a new settlement with Facebook, with FTC Chairman Jon Leibowitz saying the company now will be "obligated" to keep its privacy promises.

But in reality, the agreement is likely to have little, if any, actual impact on Facebook users.

One reason is that Facebook won't have to roll back any changes to its default privacy settings, which have grown more permissive over the last few years. Photos, wall posts, and lists of friends were once visible by default only to people you were associated with; now the default settings … Read more

WordPress.com to let bloggers earn money through ads

WordPress.com bloggers will now be able to earn a few bucks on their posts courtesy of advertising.

The popular blogging site is kicking off a new feature called WordAds, according to a blog posted earlier today by WordPress.com ads lead Jon Burke. Partnering with Federated Media, WordPress.com will display advertisements on qualifying blogs, letting their owners earn some cash from each ad.

WordPress, which Burke said signs up 50,000 new blogs every day, had apparently received requests over the years to allow advertising on the blogs created by its users, but resisted the temptation because of … Read more