Morgan Stanley withdrew from the UN-backed Net-Zero Banking Alliance on Thursday, becoming the fifth major U.S. bank to abandon the climate coalition in recent weeks. The departure follows similar moves by Citigroup, Bank of America, Goldman Sachs and Wells Fargo.

While maintaining its commitment to net-zero goals and 2030 emissions targets, Morgan Stanley joins a broader retreat from environmental initiatives by financial institutions. The bank's exit from the alliance, established in 2021 to reduce lending-related emissions, comes amid mounting Republican scrutiny of Wall Street's climate policies and legal challenges from state attorneys general targeting financial firms' environmental stances.

Scientists have discovered that great whales can live well beyond previously estimated lifespans, according to research published in Science Advances. The study found that southern right whales can survive past 130 years, while their heavily hunted northern counterparts rarely live beyond 47 years.

The findings support earlier evidence from Arctic bowhead whales, which can reach 200 years old. Scientists determined whale ages by analyzing earplugs from specimens caught by Japanese whalers in the 1970s, revealing some fin and blue whales lived to at least 114 years.

Britain's Defence Science and Technology Laboratory has developed a quantum atomic clock that will lose less than one second over billions of years, the Ministry of Defence announced on Thursday.

The UK-built device aims to reduce military reliance on GPS technology, which can be disrupted by adversaries. It will be deployable in military operations within five years, supporting navigation systems, encrypted communications, and advanced weapons systems. The $34.6 million project involves partners including Infleqtion UK, Aquark Technologies, and Imperial College London. The clock was tested outside laboratory conditions for the first time in collaboration with the Royal Navy and Army Futures team.

The U.S. Commerce Department said on Thursday it is considering new rules that would impose restrictions on Chinese drones that would restrict or ban them in the United States citing national security concerns. From a report: The department said it was seeking public comments by March 4 on potential rules to safeguard the supply chain for drones, saying threats from China and Russia "may offer our adversaries the ability to remotely access and manipulate these devices, exposing sensitive U.S. data."

China accounts for the vast majority of U.S. commercial drone sales. In September, Commerce Secretary Gina Raimondo said the department could impose restrictions similar to those that would effectively ban Chinese vehicles from the United States and the focus will be on drones with Chinese and Russian equipment, chips and software. She told Reuters in November she hopes to finalize the rules on Chinese vehicles by Jan. 20. A decision to write new rules restricting or banning Chinese drones will be made by the administration of President-elect Donald Trump, who takes over on Jan. 20.

Abstract of a paper [PDF] published on National Bureau of Economic Research: Fertility levels have greatly decreased in virtually every nation in the world, but the timing of the decline has differed even among developed countries. In Europe, Asia, and North America, total fertility rates of some nations dipped below the magic replacement figure of 2.1 as early as the 1970s. But in other nations, fertility rates remained substantial until the 1990s but plummeted subsequently.

This paper addresses why some countries in Europe and Asia with moderate fertility levels in 1980s, have become the "lowest-low" nations today (total fertility rates of less than 1.3), whereas those that decreased earlier have not. Also addressed is why the crossover point for the two groups of nations was around the 1980s and 1990s. An important factor that distinguishes the two groups is their economic growth in the 1960s and 1970s. Countries with "lowest low" fertility rates today experienced rapid growth in GNP per capita after a long period of stagnation or decline. They were catapulted into modernity, but the beliefs, values, and traditions of their citizens changed more slowly. Thus, swift economic change may lead to both generational and gendered conflicts that result in a rapid decrease in the total fertility rate.

The number of active venture capital investors, firms that invest in startups, has dropped more than a quarter from a peak in 2021 [non-paywalled source], as risk-averse financial institutions focus their money on the biggest firms in Silicon Valley. From a report: The tally of VCs investing in US-headquartered companies dropped to 6,175 in 2024 -- meaning more than 2,000 have fallen dormant since a peak of 8,315 in 2021, according to data provider PitchBook.

The trend has concentrated power among a small group of mega-firms and has left smaller VCs in a fight for survival. It has also skewed the dynamics of the US venture market, enabling start-ups such as SpaceX, OpenAI, Databricks and Stripe to stay private for far longer, while thinning out funding options for smaller companies.

More than half of the $71bn raised by US VCs in 2024 was pulled in by just nine firms, according to PitchBook. General Catalyst, Andreessen Horowitz, Iconiq Growth and Thrive Capital raised more than $25bn in 2024. Many firms threw in the towel in 2024.

India has once again pushed back a contentious plan to limit major technology companies' control of the nation's digital payments system, extending a regulatory uncertainty that has weighed on the sector for years. From a report: The National Payments Corporation of India said on Tuesday it would extend the deadline for implementing a 30% cap on any individual app's share of transactions on the Unified Payments Interface, or UPI, the country's ubiquitous digital payments network, to December 31, 2026.

The decision provides temporary relief to Walmart-backed PhonePe and Google Pay, which together handle more than 85% of transactions on UPI. The network, which processes over 13 billion transactions monthly, has become the backbone of India's digital economy since its launch eight years ago.

The Securities and Exchange Commission wrote off nearly $10 billion in uncollected fines over the past decade, with $1.4 billion written off in 2023 alone, WSJ reported, citing internal data.

While the agency reported $4.9 billion in sanctions last year, it typically collects only two-thirds of imposed penalties. The SEC stopped disclosing collection rates in 2019. In fiscal 2024, it collected just 23% of $8.2 billion in reported sanctions, including a $4.4 billion judgment against cryptocurrency firm Terraform Labs that will likely go unpaid due to bankruptcy proceedings.

Food prices continue climbing, posing challenges for U.S. consumers and policymakers, with average food-at-home prices recording their largest annual increase in November. While some commodities like wheat and corn have seen price drops, key breakfast staples remain expensive due to global supply disruptions from disease, weather, and reduced production.

A filing in an antitrust lawsuit against some of the nation's top universities alleges the schools overcharged students by $685 million in a "price-fixing" scheme, raising serious questions about their past admission and financial aid policies. From a report: Documents and testimony from officials at Georgetown University, the University of Notre Dame, the University of Pennsylvania, MIT and other elite schools suggest they appeared to favor wealthy applicants despite their stated policy of accepting students without regard for their financial circumstances. That "need-blind" policy allowed the schools to collaborate on financial aid under federal law, but plaintiffs in the case say the colleges violated the statute by considering students' family income.

Every year, according to a motion filed in federal court Monday night, Georgetown's then-president would draw up a list of about 80 applicants based on a tracking list that often included information about their parents' wealth and past donations, but not the applicants' transcripts, teacher recommendations or personal essays. "Please Admit," was often written at the top of the list, the lawsuit contends -- and almost all of the applicants were. Former students accuse 17 elite schools, including most of the Ivy League, of colluding to limit the financial aid packages of working- and middle-class students. The claimed damages of $685 million, which were detailed in the court filing Monday night, would automatically triple to more than $2 billion under U.S. antitrust laws.

An anonymous reader quotes a report from Fast Company: Insurance companies that stopped providing home coverage to hundreds of thousands of Californians in recent years as wildfires became more destructive will have to again provide policies in fire-prone areas if they want to keep doing business in California under a state regulation announced Monday. The rule will require home insurers to offer coverage in high-risk areas, something the state has never done, Insurance Commissioner Ricardo Lara's office said in a statement. Insurers will have to start increasing their coverage by 5% every two years until they hit the equivalent of 85% of their market share. That means if an insurer writes 20 out of every 100 state policies, they'd need to write 17 in a high-risk area, Lara's office said.

Major insurers like State Farm and Allstate have stopped writing new policies in California due to fears of massive losses from wildfires and other natural disasters. In exchange for increasing coverage, the state will let insurance companies pass on the costs of reinsurance to California consumers. Insurance companies typically buy reinsurance to avoid huge payouts in case of natural disasters or catastrophic loss. California is the only state that doesn't already allow the cost of reinsurance to be borne by policy holders, according to Lara's office. [...] The requirement is under review by the Office of Administrative Law before it takes effect within 30 days. "Californians deserve a reliable insurance market that doesn't retreat from communities most vulnerable to wildfires and climate change," Lara said in a statement. "This is a historic moment for California."

Opponents of the rule say that could hike premiums by 40% and doesn't require new policies to be written at a fast enough pace. The state did not provide a cost analysis for potential impact on consumers. "This plan is of the insurance industry, by the insurance industry, and for the industry," Jamie Court, president of Consumer Watchdog, said in a statement.

Generation Beta, starting in 2025 and lasting until around 2039, will grow up deeply immersed in AI and smart technology, facing pressing societal challenges like climate change and global shifts while potentially being shielded from excessive screen time by tech-savvy Gen Z parents. NBC News reports: Start and end dates of generations can be murky, but Generation Beta will keep being born until around 2039. Before them, Gen Alpha stretched from 2010 to 2024, Gen Z from around 1996 to 2010, and millennials from 1981 to 1996. The upcoming generation "will inherit a world grappling with major societal challenges," wrote demographer and futurist Mark McCrindle in a blog post. "With climate change, global population shifts, and rapid urbanisation at the forefront, sustainability will not just be a preference but an expectation." [...]

Just like Gen Z and Gen Alpha, Gen Beta will grow up with social media, though it's still unknown how those mediums will evolve in the next decade-plus. But other experts predict that Gen Z parents might choose to shield their kids from being chronically online, a stereotype that has come to define Gen Alpha. While older millennial parents tend to integrate technology into their Gen Alpha kids' lives, McCrindle wrote that Gen Z parents might take a different approach with their future Gen Beta children. "Generation Z know more about both the positives and challenges that come with social media use from a young age," McCrindle wrote. "As the most technologically savvy generation of parents, Gen Z see the benefits of technology and screen time, but equally they see the downsides of it and are pushing back on technology and the age at which their children access and engage with it."

The Metropolitan Transportation Authority has announced plans to retire its iconic R46 subway cars, triggering nostalgia among New Yorkers who cherished their distinctive seating arrangement. The fleet -- which has served A, C, N, R, Q, and W lines for five decades -- will be replaced by R211 cars expected for delivery in 2027.

The R46's perpendicular seating configuration, designed for comfort during long trips to destinations like Coney Island, encouraged social interaction among passengers, according to New York Transit Museum director Concetta Bencivenga. The new R211 cars will feature longitudinal seating to improve passenger flow and reduce platform waiting times. Currently, 696 of the original 754 R46 cars remain in service. The replacement R211 cars will include security cameras, wider seats, improved signage, and better lighting.

An anonymous reader quotes a report from KrebsOnSecurity: Federal authorities have arrested and indicted a 20-year-old U.S. Army soldier on suspicion of being Kiberphant0m, a cybercriminal who has been selling and leaking sensitive customer call records stolen earlier this year from AT&T and Verizon. As first reported by KrebsOnSecurity last month, the accused is a communications specialist who was recently stationed in South Korea. Cameron John Wagenius was arrested near the Army base in Fort Hood, Texas on Dec. 20, after being indicted on two criminal counts of unlawful transfer of confidential phone records. The sparse, two-page indictment (PDF) doesn't reference specific victims or hacking activity, nor does it include any personal details about the accused. But a conversation with Wagenius' mother -- Minnesota native Alicia Roen -- filled in the gaps.

Roen said that prior to her son's arrest he'd acknowledged being associated with Connor Riley Moucka, a.k.a. "Judische," a prolific cybercriminal from Canada who was arrested in late October for stealing data from and extorting dozens of companies that stored data at the cloud service Snowflake. In an interview with KrebsOnSecurity, Judische said he had no interest in selling the data he'd stolen from Snowflake customers and telecom providers, and that he preferred to outsource that to Kiberphant0m and others. Meanwhile, Kiberphant0m claimed in posts on Telegram that he was responsible for hacking into at least 15 telecommunications firms, including AT&T and Verizon. On November 26, KrebsOnSecurity published a story that followed a trail of clues left behind by Kiberphantom indicating he was a U.S. Army soldier stationed in South Korea.

[...] Immediately after news broke of Moucka's arrest, Kiberphant0m posted on the hacker community BreachForums what they claimed were the AT&T call logs for President-elect Donald J. Trump and for Vice President Kamala Harris. [...] On that same day, Kiberphant0m posted what they claimed was the "data schema" from the U.S. National Security Agency. On Nov. 5, Kiberphant0m offered call logs stolen from Verizon's push-to-talk (PTT) customers -- mainly U.S. government agencies and emergency first responders. On Nov. 9, Kiberphant0m posted a sales thread on BreachForums offering a "SIM-swapping" service targeting Verizon PTT customers. In a SIM-swap, fraudsters use credentials that are phished or stolen from mobile phone company employees to divert a target's phone calls and text messages to a device they control.

The Arbor Day Foundation will plant 10 million trees across six U.S. states over four years to replace those destroyed during the devastating 2024 Atlantic hurricane season, the non-profit organization announced.

The restoration program, targeting Tennessee, Virginia, North Carolina, South Carolina, Georgia and Florida, marks the group's largest undertaking in its 50-year history. The initiative will involve state and local governments, corporate sponsors and community volunteers. The 2024 hurricane season claimed 375 lives and caused an estimated $500 billion in damage and economic losses, making it the deadliest mainland U.S. season since Hurricane Katrina in 2005.