Skip to main content

China Plans To Limit How Fast Your Car Accelerates To 62 MPH At Startup

15 minutes 51 seconds ago
bobthesungeek76036 writes: Beijing's proposed regulation aims to tame rapid launches by forcing cars to boot up in a restricted performance mode after every ignition. Under a proposed update to the National Standard, every passenger car would need a default mode in which it takes no less than five seconds to reach 100 km/h (62 mph) at startup, unless the driver manually selects a quicker setting. The draft title "Technical Specifications for Power-Driven Vehicles Operating on Roads" appears to be part of a broader safety and road behavior initiative in China. It is intended to replace the current GB 7258-2017 standard that didn't impose such restrictions.

Read more of this story at Slashdot.

msmash

'Big Short' Investor Michael Burry To Close Hedge Fund as He Warns on Valuations

55 minutes 51 seconds ago
Michael Burry, the investor made famous for his bet against the US housing market ahead of the 2008 financial crisis, is closing his hedge fund [non-paywalled source] as he warned that market valuations had become unhinged from fundamentals. From a report: Scion Asset Management this week terminated its registration with US securities regulators, according to a Securities and Exchange Commission database. Burry told investors that he would "liquidate the funds and return capital -- but for a small audit/tax holdback -- by year's end," according to two people with direct knowledge of a letter he sent to investors. "My estimation of value in securities is not now, and has not been for some time, in sync with the markets," said the letter, which was dated October 27. The move to close Scion comes as some investors have become concerned that markets are trading at frothy levels after years of strong returns. Those jitters flared up on Thursday, with the tech-heavy Nasdaq Composite sliding nearly 2%. Still, the big gains for tech stocks this year, driven by hopes that artificial intelligence will transform business and society, have left valuations at lofty heights compared with their average in recent years.

Read more of this story at Slashdot.

msmash

Ransomed CTO falls on sword, refuses to pay extortion demand

1 hour 3 minutes ago
Checkout.com will instead donate the amount to fund cybercrime research

Ransomware is a huge business, because affected orgs keep forking over money to get their data back. However, instead of paying a ransom demand after getting hit by extortionists last week, payment services provider Checkout.com donated the demanded amount to fund cybercrime research.…

Jessica Lyons