Flying car maker Terrafugia bought by Geely

Terrafugia / Barcroft Cars / Barcroft Media via Getty Images

One of the most remarkable transformations in the auto industry has been the flourishing of Volvo Cars under the ownership of Chinese parent company Geely. It could be a poster child for the right way to acquire and manage a brand—one simply needs to look at Volvo’s tenure under previous owner Ford, or perhaps the fate of Saab under General Motors, to see things don’t always turn out well. Geely has been on a little bit of a purchasing spree of late. In May it bought Lotus, giving hope to fans of the lightweight sports cars. And on Monday, it finalized another sale, this time for something a little more left field: Terrafugia. That’s right, it’s getting into the flying car business.

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OnePlus includes Qualcomm engineering app in phones, exposes root backdoor

Ron Amadeo

A Twitter user by the name “Elliot Alderson“‏ has discovered a root backdoor in OnePlus devices—one that has apparently been shipping for years. OnePlus has been shipping a Qualcomm engineering APK (an Android app file) in its devices, which with a few commands, can root a device.

The app—called “EngineerMode”—is partially exposed to users through a secret “*#808#” dialer command, and you can also launch the full app through an Android activity launcher or the command line. The app contains production-line tests for various phone components, a root checker, and lots of information readouts. The important part, though, is a “DiagEnabled” activity with a method called “escalatedUp.” If this is set to “true,” the app will allow root access over Android Debug Bridge, Android’s command-line developer tools.

The method for gaining root is password protected, but the password lasted all of three hours once the method was discovered. With the help of David Weinstein and the Now Secure team, the group discovered the magic word is “angela,” which is possibly another Mr. Robot reference, just like the “Elliot Alderson” handle. (We swear this is real and not a Mr. Robot AGR.)

The "Engineering Mode" app from a OnePlus 3T.
Enlarge /

The “Engineering Mode” app from a OnePlus 3T.

With the password cracked, it’s now possible for an app to enable root access on any device with the APK preinstalled. For now this only works in ADB, which requires local access to the device. Anderson says it’s “too early to speak about a random app getting root access, but we are on the good tracks.”

Since this is a Qualcomm APK, there’s a chance other OEMs have made the same mistake OnePlus has. While the root backdoor hasn’t been verified in other devices yet, reports from Twitter indicate the APK was also found in Asus and Xiaomi devices.

OnePlus CEO, Carl Pel, said his company is “looking into” the backdoor report. It should be a simple matter of just removing the APK in an update, but this will certainly put a damper on the launch of the OnePlus 5T, which comes out this week.

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SpotMini: Boston Dynamics’ New Robot is Frighteningly Fluid

In the past few years, you’ve seen several of Boston Dynamics’ robotic creations on Geeks are Sexy, and today, the company has unveiled the new SpotMini, their smallest robot yet. Even though it might look rendered at first glance because it moves so naturally and fluidly, it’s totally real. Check it out in action in the video below. More details about the robot should come out soon. Stay tuned.

[Boston Dynamics]

The post SpotMini: Boston Dynamics’ New Robot is Frighteningly Fluid appeared first on Geeks are Sexy Technology News.

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FBI Data Shows The Number Of Hate Crimes Are Rising

Data released by the FBI on hate crimes in the U.S. shows that 58 percent of the hate crime incidents last year were motivated by a victim’s race. FBI data is based on voluntary reporting from more than 15,000 local law enforcement agencies, but civil rights groups argue the study is flawed because it undercounts the number of hate crimes.

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Venezuela just defaulted, moving deeper into crisis

Venezuela, a nation spiraling into a humanitarian crisis, has missed a debt payment. It could soon face grim consequences.

The South American country defaulted on its debt, according to a statement issued Monday night by S&P Global Ratings. The agency said the 30-day grace period had expired for a payment that was due in October.

A debt default risks setting off a dangerous series of events that could exacerbate Venezuela’s food and medical shortages.

If enough holders of a particular bond demand full and immediate repayment, it can prompt investors across all Venezuelan bonds to demand the same thing. Since Venezuela doesn’t have the money to pay all its bondholders right now, investors would then be entitled to seize the country’s assets — primarily barrels of oil — outside its borders.

Related: Trump administration bars U.S. banks from some Venezuelan debt

Venezuela has no other meaningful income other than the oil it sells abroad. The government, meanwhile, has failed for years to ship in enough food and medicine for its citizens. As a result, Venezuelans are waiting hours in line to buy food and dying in hospitals that lack basic resources.

If investors seize the country’s oil shipments, the food and medical shortages would worsen quickly.

“Then it’s pandemonium,” says Fernando Freijedo, an analyst at the Economist Intelligence Unit, a research firm. “The humanitarian crisis is already pretty dire … it boggles the mind what could happen next.”

It’s not immediately clear what steps bondholders will take. Argentina went through a vaguely similar default, and its bondholders battled with the government for about 15 years until settling in 2016. Every case is different, though.

Related: Venezuela admits it can’t pay all its debts anymore

Venezuela and its state-run oil company, PDVSA, owe more than $60 billion just to bondholders. In total, the country owes far more: $196 billion, according to a paper published by the Harvard Law Roundtable and authored by lawyers Mark Walker and Richard Cooper.

Beyond bond payments, Venezuela owes money to China, Russia, oil service providers, U.S. airlines and many other entities. The nation’s central bank only has $9.6 billion in reserves because it has slowly drained its bank account over the years to make payments.

The S&P default announcement Monday came after Venezuelan government officials met with bondholders in Caracas. The meeting was reportedly brief and offered no clarity on how the government plans to restructure its debt.

venezuela reserves nov 2017

The Venezuelan government blames its debt woes — and inability to pay — on a longstanding “economic war” waged by the U.S. More recently, the Trump administration slapped financial sanctions on Venezuela and PDVSA, barring banks in the U.S. from trading or investing in any newly issued Venezuelan debt.

But experts say the populist Venezuelan regime that has been in power since 1999 bears the brunt of the blame. It fixed — or froze — prices on everything from a cup of coffee to a tank of gas in an effort to make goods more affordable for the masses. For years, Venezuelan leaders also fixed the exchange rate for their currency, the bolivar.

Related: Venezuela is blaming Trump for missed debt payments

Those moves were among the driving forces behind the food shortages. Farmers couldn’t sell at low prices without going out of business because their cost of production was much higher. Importers also couldn’t afford to ship in food, knowing they would have to sell at much lower prices than what they paid for at the port.

When food shortages grew worse, an illegal black market emerged where venders sold basic foods at vastly higher prices than the government’s artificially low prices. Inflation soared, making the bolivar almost worthless.

One U.S. dollar currently buys more than 55,200 bolivars. At the beginning of the year, a dollar was worth about 3,200 bolivars, according to dolartoday.com, a website that tracks the unofficial rate that millions in Venezuela use to determine payments.

The International Monetary Fund predicts that inflation in Venezuela will hit 650% this year and 2,300% in 2018.

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Video charts evolution of Jeep from military vehicle to SUV powerhouse

Here’s a fun new video from our car-obsessed friends at Donut Media. It shows the evolution of the iconic Jeep from its World War II roots to the forthcoming 2019 Scrambler pickup in a little over two minutes. Using illustrations and audio of Jeep engines and broadcast advertising spots, it’s a fascinating look at the common traits that have persisted over more than 75 years and changing consumer preferences.

Three companies originally responded to the U.S. Army’s request in 1940 for proposals to make a quarter-ton “light reconnaissance vehicle” tailored to its specs — Bantam, Ford and Willys. The video starts by showing all three early contenders — the Bantam Reconnaissance Car, Ford Pygmy and Willys MB, which was based on the Willys-Overland “Quad” prototype, named for the 4×4 system it utilized. Willys eventually won the contract in 1941 to build 16,000 revised MB models for American and Allied forces. Willys would trademark the Jeep name in 1945 with its CJ-2A, a Civilian Jeep geared toward farmers.

As the video shows, Jeep really started to diversify its body styles and colors in the 1970s and ’80s under the ownership of American Motors Corp., which purchased the money-losing Jeep brand in 1970 from Kaiser-Jeep, which itself had acquired the brand from Willys in 1953. The ’70s brought models like the CJ-5 Renegade and CJ-5 Laredo, and the video includes updates including the second-generation Wrangler Unlimited in 2004 and the Wrangler-based Scrambler pickup.

Chrysler purchased Jeep from American Motors in 1987, shortly after the debut of the Jeep Wrangler, and has managed to hold onto the brand and ride it to success despite its own bumpy ownership trials and tribulations since then. Despite the many owners over time, Jeep has maintained its headquarters all along in Toledo, Ohio.

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Hydrogen could deliver one fifth of world carbon cuts by 2050, industry says

BONN, Germany — Increasing the use of hydrogen in power, transport, heat and industry could deliver around one fifth of the total carbon emissions cuts needed to limit global warming to safe levels by mid-century, a report by the Hydrogen Council said on Monday.

To encourage industries to use hydrogen, Toyota and Air Liquide helped set up the Hydrogen Council, a global lobby launched in January this year.

Its 27 members include automakers Audi, BMW, Daimler, Honda and Hyundai, and energy firms such as Shell and Total.

The council said using hydrogen for transport, energy generation, energy storage, industry, heat and power could cut annual carbon emissions by 6 billion tonnes by 2050.

“This would … contribute roughly 20 percent of the additional abatement required to limit global warming to two degrees Celsius,” the council said in a report released on the sidelines of a U.N. climate conference in Bonn.

To achieve a two-degree limit this century agreed by governments in Paris in 2015, the world must reduce energy-related carbon emissions by 60 percent by 2050.

The report said one in 12 cars sold in California, Germany and Japan were expected to be powered by hydrogen by 2030.

By 2050, hydrogen could power 400 million cars, 15 million to 20 million trucks, around 5 million buses, a quarter of passenger ships and a fifth of non-electrified train tracks, as well as some airplanes and freight ships.

Achieving this shift in transport and other sectors would require investment of $280 billion by 2030, with about $110 billion to fund hydrogen output, $80 billion for storage, transport and distribution, and $70 billion to develop products.

Fuel cell vehicles combine hydrogen and oxygen to produce electricity to power an electric motor, producing water as a byproduct. However, making hydrogen from fossil fuels, a common route, also produces some greenhouse gas emissions.

So far the take-up of hydrogen vehicles is tiny and industry experts say their wider use is years away, with high purchase prices and a lack of refueling stations the major barriers.

But some firms, such as miner Anglo American and carmaker Toyota, are pushing for fuel cell cars to play a role even with the rise of battery-powered electric vehicles (EVs).

Woong-chul Yang, vice chairman of automotive research and development at Hyundai said EVs and hydrogen fuel cell cars were needed because EVs were better for city driving and fuel cell vehicles better for longer journeys.

Some countries have set targets for hydrogen use, such as China, which aims to have 1 million hydrogen fuel cell vehicles by 2030. Britain has a 23 million pound ($30 million) fund to accelerate the take-up of hydrogen vehicles.

Some Chinese firms are interested in joining the Hydrogen Council, Pierre Etienne Franc, vice president of the hydrogen initiative at Air Liquide, told Reuters. “Most probably we will have a Chinese member in the next six months,” he said.

The council believes that, with the right policies, the investment needed was “feasible” and the hydrogen market could see revenues of more than $2.5 trillion a year.

Reporting by Nina Chestney

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