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Scientists Warn US Will Lose a Generation of Talent

1 week 4 days ago
An anonymous reader shares a report: A generation of scientific talent is at the brink of being lost to overseas competitors by the Trump administration's dismantling of the National Science Foundation (NSF), with unprecedented political interference at the agency jeopardizing the future of US industries and economic growth, according to a Guardian investigation. The gold standard peer-reviewed process used by the NSF to support cutting-edge, high-impact science is being undermined by the chaotic cuts to staff, programs and grants, as well as meddling by the so-called department of government efficiency (Doge), according to multiple current and former NSF employees who spoke with the Guardian. The scientists warn that Trump's assault on diversity in science is already eroding the quality of fundamental research funded at the NSF, the premier federal investor in basic science and engineering, which threatens to derail advances in tackling existential threats to food, water and biodiversity in the US.

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Citi Spends $9 Billion on Tech Overhaul After Series of Costly Errors

1 week 4 days ago
Citigroup spent over $9 billion on technology and communications last year, almost a fifth of total operating expenses and a larger proportion than competitors, as the bank works to fix legacy software systems that have produced costly errors including accidentally wiring more than $900 million to Revlon creditors. The bank has consolidated 12 international sanctions screening systems into one platform, retired 20 cash equities platforms and launched a replacement, and automated high-risk processes where "fat-finger" errors previously occurred. Recent mistakes included crediting one account with $81 trillion after an employee failed to remove zeros from an electronic form and a copy-paste error that almost missent $6 billion.

Read more of this story at Slashdot.

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