Latest news with #DaveLewis
Hamilton Spectator
19-07-2025
- Business
- Hamilton Spectator
Canadians are using weak passwords at work. You're a hacker's dream target if yours is on this 2025 worst offenders list
Corporate workers can't seem to shake off those Sesame Street songs from the 1990s and it's showing in their passwords. A new study by cybersecurity company Nord Security has found that Canadian corporate employees continue to use weak passwords such as '123456,' 'password' and even 'hockey.' Weak passwords expose individuals and organizations to a host of cybercrimes, since these are easy to guess using brute force attack methods . The report shows alarmingly poor password hygiene by corporate employees, including those in the banking industry. According to the report, ABCDEF is the No. 1 'not-so-secret' password used by employees in the financial sector globally, including those working for financial service providers, fintech platforms, and banks. Dave Lewis, global advisory chief information security officer at Canadian identity security These weak passwords were found being used by finance sector employees for their banking dashboards, accounting systems and corporate email logins among others, the report said. 'Finance is one of the most targeted industries for cybercrime — and yet many of the passwords we found wouldn't pass a basic security audit,' Nordpass said, adding with sensitive financial data on the line, outdated password practices are a major liability. The research has found people's troubling reliance on simple numeric or alphabetical sequences. Here are the top 10 weakest passwords used in the financial sector around the world: In Canada, 12345 still reigns supreme followed by password and qwerty. Passwords 'hockey' and 'welcome' made the list. The lists were compiled by the company's password security team NordPass, in partnership with Nord Security's threat management team NordStellar, from a 2.5 TB database. The information was extracted from various public sources, including those from the dark web, according to the report. Breached and leaked passwords are often collected and posted on the dark web as part of large databases. The data was divided into 11 sectors representing passwords by those working in health care, finance, education and tech. This, according to the researchers, gave them a clearer picture of how organizations from different industries are securing their data. Numerical passwords still top the list of the weakest passwords across different industries all over the world, according to the study. Predictable number sequences like 123456 have topped the list for years and are the easiest passwords to crack, with cybercriminals able to penetrate accounts using this in under one second, according to the report. In every industry, researchers also found users using their email addresses as their passwords. The list also includes other more creative choices like Mikeross69, which according to NordPass is a nod to fans of the 'Suits' TV show. 'Unfortunately, cybercriminals don't need to pass the bar to crack that one,' the company said in a news release. The tech giant's latest security advise urges its users to use passkeys instead that the company The company recommends changing passwords to strong, unique ones using a password manager, enabling multifactor authentication wherever possible, and avoiding password reuse across different accounts. Those looking for a more secure option can switch to passwordless authentication which uses things like fingerprint scans, facial recognition, security keys, or passkeys, said Karolis Arbaciauskas, head of product at NordPass, in an email to Metroland Media. 'By removing passwords from the equation, companies and individuals can drastically reduce the risks of breaches caused by weak or reused passwords. It's a simpler, more secure future and one that's already accessible to everyday users on most major platforms,' he said. Consumers can also go passwordless by enabling biometric logins like Face ID or fingerprint unlock and adopting passkeys that are now widely supported on Apple, Google, and Microsoft platforms. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
CTV News
10-07-2025
- Business
- CTV News
‘It's a pretty big dream': City could relaunch a long dormant program to help renters buy their first home
What's old is new again at London City Hall, at least when it comes to home ownership. City staff are proposing the relaunch of a program that helps middle income earners buy their first home. 'It's a pretty big dream. It's kind of priority number one for us. We really want to get our own place,' said downtown apartment dweller, Dave Lewis. Lewis and his wife have rented for the last 18 years, but he said they've outgrown their place and now want a home they can call their own. But while they both work, they don't earn quite enough money to buy the type of house they'd like to get into. London first home program Renter Dave Lewis, who would like to become a homeowner, seen in London, Ont. (Bryan Bicknell/CTV News London) 'There are so many factors. The housing market, banks, interest rates for banks getting into getting a proper mortgage. Being able to compete. Lack of availability,' said Lewis. City staff is proposing the re-introduction of The Affordable Home Ownership Program. It would assist renters and first-time buyers in London and Middlesex with down payments and closing costs in the form of a forgivable loan. London Deputy Mayor Shawn Lewis said it's an opportunity worth considering. 'It does have an impact in terms of our housing waitlist, our roadmap to 3,000 affordable homes because it frees up rental stock, and that has been the single biggest driver of housing affordability in our city for the last six, seven years,' explained the Deputy Mayor. Deputy Mayor Shawn Lewis first home program London Deputy Mayor Shawn Lewis speaks to CTV London's Bryan Bicknell. (Bryan Bicknell/CTV News London) The original home ownership program went from 2008 to 2013, when market conditions at that time forced the closure of the program. It was funded by the provincial and federal governments. In five years, it issued 270 loans, lent out $2,317,466, discharged 173 loans, and received $2,443,010 million in repayments. There are currently 97 remaining loans, which will reach maturity between 2025 and 2033. The Revolving Loan Fund now has a balance of just under $3.1 million, which would be used to restart the program. 'It really is kind of a use it or lose it. I mean, we can leave it sitting there, but we can't use it for other things,' explained Deputy Mayor Lewis. Eligible households in the relaunched program would be offered interest-free loans over 20 years, covering up to five per cent of the home's purchase price, to a maximum of $25,000. Those eligible cannot earn more than $95,000 annually for a single, and $115,000 annually for a family. 'That's part of the thing where we would like to be able to build equity with a property, and with renting, that's just not possible,' said Dave Lewis. The city said while the market has stabilized, the average home price does not match the average income. Citing figures from city staff said there are roughly 450 homes in London and Middlesex in the $320,000 to $500,000 range, which would fit the program. The proposal goes to city council's Community and Protective Services Committee on Monday.
Ya Biladi
04-07-2025
- Business
- Ya Biladi
Xlinks officially withdraws UK application for Morocco-UK energy cable
Xlinks has officially withdrawn its application for its MAD 310 billion (£25 billion) renewable energy project, which aimed to supply solar and wind power from Morocco to the UK via a 4,000-kilometre undersea cable. In a letter submitted to the British Planning Inspectorate on July 1, the company stated it was «formally withdrawing the application submitted in November 2024, which was accepted for examination in December 2024». This move follows a recent announcement by the UK Department for Energy Security and Net Zero (DESNZ), which said it was «no longer considering a negotiated Contract for Difference (CfD) for the Project». The CfD mechanism would have guaranteed a minimum price for electricity imported via the Morocco-UK cable. Xlinks explained that due to the current «changes», it does «not believe that proceeding with the Examination at this stage is advisable». Last week, Xlinks Chair Sir Dave Lewis said he was «surprised and bitterly disappointed» by the government's decision to walk away from the project. The company had anticipated the shift in government position. In May, it requested a temporary pause in its Development Consent Order (DCO) application, a critical step for large infrastructure projects, while awaiting clarity on the CfD process. Xlinks had also expressed frustration over delays in receiving UK government backing, warning it might shift the initiative to another country. For the record, The Morocco–UK Power Project aims to deliver 3.6 GW of dispatchable clean energy from solar, wind, and battery installations in Morocco. It was expected to reduce UK carbon emissions by 10% and cut wholesale electricity prices by 9.3%.
Business Insider
28-06-2025
- Business
- Business Insider
UK terminates $34B subsea cable energy agreement in North Africa
The UK government has officially withdrawn its support for the £25 billion ($34.4 billion) Morocco-UK Power Project, a pioneering plan to harness solar and wind energy from the Sahara Desert and transmit it to Britain via the world's longest subsea power cable. The UK government has withdrawn support for the £25 billion Morocco-UK Power Project due to national interest concerns. This project aimed to transmit renewable energy from Morocco to the UK via a 3,800 km subsea power cable. The lack of government-backed contracts reduced investment attractiveness, leading to project termination. The ambitious project, led by British clean energy company, Xlinks, involved laying over 3,800 kilometers of high-voltage subsea cables from Morocco's Guelmim-Oued Noun region to Devon in southwest England, to generate enough electricity to power over 7 million UK homes, accounting for up to 8% of the country's energy needs. Prior to its termination, the inter-continental energy project, which would have harnessed over 10.5 gigawatts of solar and wind power to deliver a steady 3.6 gigawatts of baseload energy, had reportedly cleared environmental permits and was scheduled for construction as early as 2027. Reuters report that over £100 million ($137 million) has already been spent on development and feasibility studies, with significant interest from lenders to fund the construction phase. However, the lack of a government-backed contract for difference and a guaranteed minimum price for electricity made the project riskier and less attractive to investors. Michael Shanks, UK Energy Minister highlighted the reasons for the decision; he said the government had concluded that, 'it is not in the UK national interest at this time to continue further consideration of support for the Morocco-UK Power Project. ' He also cited concerns over economic alignment and a shift toward ' homegrown power ' as part of a broader energy security strategy, adding that the government had concluded that it preferred domestic renewable investments with greater economic and energy security benefits. Reacting to the news of cancellation, Xlinks, Chairman, Dave Lewis said, 'We are hugely surprised and bitterly disappointed that the UK government would choose to walk away from an opportunity to unlock the substantial value that a large-scale renewable energy project like this would bring,' 'We are now working to unlock the potential of the project and maximize its value for all parties in a different way.' He added. The Morocco-UK Power Project At its core, the Morocco-UK Power Project was envisioned as a transcontinental clean energy solution; designed to tap into North Africa 's abundant sunshine and wind to help the UK meet its 2030 net-zero grid ambitions while easing reliance on natural gas. It would have featured 11.5 gigawatts of solar and wind capacity with battery storage to deliver 3.6 gigawatts of steady baseload power. Despite backing from major investors like TAQA, TotalEnergies, Octopus Energy, and GE Vernova, concerns over the project's complexity, transmission length, geopolitical risks, and dependency on a non-European partner ultimately led to the UK's decision to pull back. As global clean energy investment is projected to reach $3.3 trillion in 2025, with two-thirds going towards renewables and storage, the UK's move signals a shift towards resilient, domestic systems over cross-border mega-deals.
Time of India
27-06-2025
- Business
- Time of India
UK backs away from renewable energy project to transport energy underwater from Morocco
The United Kingdom has stepped back from a project to transmit power generated by North Africa's winds and sun via underwater cables and is pivoting to other projects seen as less risky, British energy officials said Thursday. The country's Energy Security Department said in a statement that they would no longer support the $33 billion project due to a "high level of inherent risk, related to both delivery and security." The Morocco-UK Power Project was announced by the British company Xlinks in 2021 as part of an effort to create a global energy grid and ship power from places where it's cheap to produce to high-demand markets. Xlinks said the project would provide an equivalent of 8 per cent of Britain's current electricity needs, or roughly 7 million homes. "There are stronger alternative options that we should focus our attention on," British minister Michael Schanks said in a statement, noting the inherent risk for taxpayers and consumers. The United Kingdom relies heavily on natural gas for its energy needs and aims to generate all of its energy from renewable sources by 2030. It closed its last coal-fired power plant last year and offered partial financing to a raft of wind, solar and energy storage projects to help meet its goal. Such large-scale infrastructure projects typically rely on some governmental support or fixed prices per megawatt-hour. Xlinks was pursuing a fixed price agreement and has already received loans from investors including France's Total Energies and the development bank Africa Finance Corporation. Xlinks Board Chair Dave Lewis said in a statement that the company would continue pursuing the project despite the government's decision. "We are hugely surprised and bitterly disappointed," he said, noting that the company believed its project would offer electricity at cheaper rates and more quickly than other proposals, including to expand nuclear power. Xlinks is one of a slew of projects that reflect how European countries are looking south to North Africa for clean energy, testing whether it's cheaper to generate renewable power in ideal conditions far away and ship it, or to produce it domestically. The project would transmit electricity through nearly 4,000 kilometers of underwater cables encased in protective plastic and steel, with minimal transmission loss. If completed, it would be the largest interconnector of its kind, though smaller subsea cable networks already link the UK to neighboring European countries. In addition to Xlinks, transmission projects in Tunisia and Egypt aim to link solar and wind farms to Italy and Greece Moroccan officials did not respond to questions about the decision.
