Indonesia said it is beginning to recover data that had been encrypted in a major ransomware attack last month which affected more than 160 government agencies. From a report: The attackers identified as Brain Cipher asked for $8 million in ransom to unlock the data before later apologising and releasing the decryption key for free, according to Singapore-based cybersecurity firm StealthMole. The attack has disrupted multiple government services including immigration and operations at major airports. Indonesian officials have acknowledged that the bulk of the data had not been backed up. Chief Security Minister Hadi Tjahjanto said in a statement late on Thursday that data for 30 public services overseen by 12 ministries had been recovered using a "decryption strategy" without elaborating.

An anonymous reader quotes a report from TechCrunch: A data breach at the phone surveillance operation mSpy has exposed millions of its customers who bought access to the phone spyware app over the past decade, as well as the Ukrainian company behind it. Unknown attackers stole millions of customer support tickets, including personal information, emails to support, and attachments, including personal documents, from mSpy in May 2024. While hacks of spyware purveyors are becoming increasingly common, they remain notable because of the highly sensitive personal information often included in the data, in this case about the customers who use the service. The hack encompassed customer service records dating back to 2014, which were stolen from the spyware maker's Zendesk-powered customer support system.

mSpy is a phone surveillance app that promotes itself as a way to track children or monitor employees. Like most spyware, it is also widely used to monitor people without their consent. These kinds of apps are also known as "stalkerware" because people in romantic relationships often use them to surveil their partner without consent or permission. The mSpy app allows whoever planted the spyware, typically someone who previously had physical access to a victim's phone, to remotely view the phone's contents in real-time. As is common with phone spyware, mSpy's customer records include emails from people seeking help to surreptitiously track the phones of their partners, relatives, or children, according to TechCrunch's review of the data, which we independently obtained. Some of those emails and messages include requests for customer support from several senior-ranking U.S. military personnel, a serving U.S. federal appeals court judge, a U.S. government department's watchdog, and an Arkansas county sheriff's office seeking a free license to trial the app. Even after amassing several million customer service tickets, the leaked Zendesk data is thought to represent only the portion of mSpy's overall customer base who reached out for customer support. The number of mSpy customers is likely to be far higher. mSpy's owners, a Ukraine-based company called Brainstack, have yet to publicly disclose the breach. You can visit Have I Been Pwned to see if your email address was involved in a breach.

An anonymous reader quotes a report from The Guardian: The amount of wind and solar power under construction in China is now nearly twice as much as the rest of the world combined, a report has found. Research published on Thursday by Global Energy Monitor (GEM), an NGO, found that China has 180 gigawatts (GW) of utility-scale solar power under construction and 15GW of wind power. That brings the total of wind and solar power under construction to 339GW, well ahead of the 40GW under construction in the US. The researchers only looked at solar farms with a capacity of 20MW or more, which feed directly into the grid. That means that the total volume of solar power in China could be much higher, as small scale solar farms account for about 40% of China's solar capacity.

Between March 2023 and March 2024, China installed more solar than it had in the previous three years combined, and more than the rest of the world combined for 2023, the GEM analysts found. China is on track to reach 1,200GW of installed wind and solar capacity by the end of 2024, six years ahead of the government's target. "The unabated wave of construction guarantees that China will continue leading in wind and solar installation in the near future, far ahead of the rest of the world," the report said. Earlier analysis suggests that China will need to install between 1,600GW and 1,800GW of wind and solar energy by 2030 to meet its target of producing 25% of all energy from non-fossil sources. Between 2020 and 2023, only 30% of the growth in energy consumption was met by renewable sources, compared with the target of 50%.

Job growth in the UK's digital industry hit its lowest in a decade, prompting the incoming Labour government to pledge to revive the sector as it seeks to stimulate growth. From a report: The number of jobs in the sector grew by just 0.3% last year -- the lowest since a decline of 0.1% in 2013, according to Office for National Statistics data released on Thursday. Wider employment across the whole UK economy grew more than twice as fast, the data showed. The figures may stoke concerns of a stagnation in the UK tech sector, as employment and earnings stalled in the sector. Digital sector employees -- including programmers and tech consultants -- saw their hourly pay rise by just over 1% between 2022 and 2023, equating to a pay fall in real terms, the data showed. Nevertheless, the UK's new Secretary of State for Science, Innovation and Technology, Peter Kyle, promised to revitalize the sector.

The federal government has spent $22 billion in recent years on technology from the top 100 national-security startups, a paltry portion of overall contract spending and less than half of what venture capitalists have invested in those same companies. WSJ: The gap underscores the discrepancy between the surge of venture capital funding for defense technology and the U.S. government's spending on substantial contracts to startups. The new numbers come from a report released Thursday by Silicon Valley Defense Group, a nonprofit that started a decade ago with the aim of bringing more startup innovation to the Defense Department.

According to the report, the top 100 venture capital-backed national security startups have raised a combined $53 billion in private funding since their inception, $11 billion of which has come in the past 12 months. Those same startups have collectively earned $22 billion in revenue from federal awards, $6 billion of which came from the Defense Department. The organization ranked the startups based on head count growth, total capital raised and other factors.ÂTraditional defense contractors receive hundreds of billions in awards every year.

An anonymous reader quotes a report from Reuters: The German government and mobile phone carriers have agreed in principle on steps to phase components by Chinese technology companies out of the nation's 5G wireless network over the next five years, two people familiar with the matter told Reuters on Wednesday. Newspaper Sueddeutsche Zeitung as well as broadcasters NDR and WDR earlier jointly reported the news, saying the agreement gives network operators Deutsche Telekom, Vodafone, and Telefonica Deutschland more time to replace critical parts. Under the preliminary agreement driven by security considerations, operators will initially rid the country's core network of 5G data centers of technology made by companies such as Huawei and ZTE in 2026, said the sources, adding that a final pact has yet to be signed. In a second phase, the role of Chinese makers' parts for antennas, transmission lines and towers should be all but eliminated by 2029, they added. "The government is acting on the basis of the national security strategy and China strategy to reduce possible security risks and dependencies," said a spokesperson for Germany's interior ministry.

A high-tech race is under way between the U.S. and China as both countries chase an elusive energy source: fusion. From a report: China is outspending the U.S., completing a massive fusion technology campus and launching a national fusion consortium that includes some of its largest industrial companies. Crews in China work in three shifts, essentially around the clock, to complete fusion projects. And the Asian superpower has 10 times as many Ph.D.s in fusion science and engineering as the U.S. The result is an increasing worry among American officials and scientists that an early U.S. lead is slipping away.

JP Allain, who heads the Energy Department's Office of Fusion Energy Sciences, said China is spending around $1.5 billion a year on fusion, nearly twice the U.S. government's fusion budget. What's more, China appears to be following a program similar to the road map that hundreds of U.S. fusion scientists and engineers first published in 2020 in hopes of making commercial fusion energy. Scientists familiar with China's fusion facilities said that if the country continues its current pace of spending and development, it will surpass the U.S. and Europe's magnetic fusion capabilities in three or four years.

A bipartisan group of senators reached a new agreement on legislation that would ban members of Congress, their spouses and dependent children, as well as the president and vice president, from purchasing and selling stocks while in office. According to CNBC, it would also give lawmakers 90 days to sell their stocks. From the report: The proposal is the latest chapter in a yearslong saga in Congress to pass regulations that limit lawmakers' ability to buy and sell stocks, and the first one to get formal consideration by a Senate committee -- in this case the Homeland Security & Governmental Affairs Committee on July 24. Ethics experts say that legislators' access to the kind of information they receive gives them the potential of having an unfair advantage to the investing public.

Sens. Hawley, Jon Ossoff, D-Ga., Jeff Merkley, D-Ore., and Gary Peters, D-Mich., negotiated and announced the new details. If passed, the bill would also prohibit lawmakers' spouses and dependent children from trading stocks, beginning March 2027. Also starting that year, the U.S. president, vice president and all members of Congress would have to divest from any covered investments. The penalty for violating the divestment mandate, as proposed by the senators, would cost a lawmaker the greater amount of either their monthly salary, or 10% of the value of each covered asset in violation.

An anonymous reader quotes a report from the BBC: US officials say they have taken action against an AI-powered information operation run from Russia, including nearly 1,000 accounts pretending to be Americans. The accounts on X were designed to spread pro-Russia stories but were automated "bots" -- not real people. In court documents made public Tuesday the US justice department said the operation was devised by a deputy editor at Kremlin-owned RT, formerly Russia Today. RT runs TV channels in English and several other languages, but appears much more popular on social media than on conventional airwaves.

The justice department seized two websites that were used to issue emails associated with the bot accounts, and ordered X to turn over information relating to 968 accounts that investigators say were bots. According to the court documents, artificial intelligence was used to create the accounts, which then spread pro-Russian story lines, particularly about the war in Ukraine. "Today's actions represent a first in disrupting a Russian-sponsored generative AI-enhanced social media bot farm," said FBI Director Christopher Wray. "Russia intended to use this bot farm to disseminate AI-generated foreign disinformation, scaling their work with the assistance of AI to undermine our partners in Ukraine and influence geopolitical narratives favorable to the Russian government," Mr Wray said in a statement. The accounts now appear to have been deleted by X, and screenshots shared by FBI investigators indicated that they had very few followers.

An anonymous reader quotes a report from Ars Technica: Northwest Oregon had never seen anything like it. Over the course of three days in June 2021, Multnomah County -- the state's most populous county, which rests in the swayback along Oregon's northern border -- recorded highs of 108, 112, and 116 degrees Fahrenheit. Temperatures were so hot that the metal on cable cars melted and the asphalt on roadways buckled. Nearly half the homes in the county lacked cooling systems because of Oregon's typically gentle summers, where average highs top out at 81 degrees. Sixty-nine people perished from heat stroke, most of them in their homes. When scientific studies showed that the extreme temperatures were caused by heat domes, which experts say are influenced by climate change, county officials didn't just chalk it up to a random weather occurrence. They started researching the large fossil fuel companies whose emissions are driving the climate crisis -- including ExxonMobil, Shell, and Chevron -- and sued them (PDF).

"This catastrophe was not caused by an act of God," said Jeffrey B. Simon, a lawyer for the county, "but rather by several of the world's largest energy companies playing God with the lives of innocent and vulnerable people by selling as much oil and gas as they could." Now, 11 months after the suit was filed, Multnomah County is preparing to move forward with the case in Oregon state court after a federal judge in June settled (PDF) a monthslong debate over where the suit should be heard. About three dozen lawsuits have been filed by states, counties, and cities seeking damages from oil and gas companies for harms caused by climate change. Legal experts said the Oregon case is one of the first focused on public health costs related to high temperatures during a specific occurrence of the "heat dome effect." Most of the other lawsuits seek damages more generally from such ongoing climate-related impacts as sea level rise, increased precipitation, intensifying extreme weather events, and flooding. [...]

The Multnomah County lawsuit says that Exxon, Shell, Chevron, and others engaged in a range of improper practices, including negligence, creating a public nuisance, fraud, and deceit. The suit alleges that the companies were aware of the harms of fossil fuels and engaged in a "scheme to rapaciously sell fossil fuel products and deceptively promote them as harmless to the environment, while they knew that carbon pollution emitted by their products into the atmosphere would likely cause deadly extreme heat events like that which devastated Multnomah County." "We know that climate-induced weather events like the 2021 Heat Dome harm the residents of Multnomah County and cause real financial costs to our local government," Multnomah County Chair Jessica Vega Pederson said in a statement. "The Court's decision to hear this lawsuit in State Court validates our assertion that the case should be resolved here -- it's an important win for this community." In the suit, officials in Portland's Multnomah County said that they will ultimately incur costs in excess of $1.5 billion to deal with the effects of the 2021 heat dome.

"We allege that this is just like any other kind of public health crisis and mass destruction of property that is caused by corporate wrongdoing," said Simon, partner in the law firm of Simon Greenstone Panatier. "We contend that these companies polluted the atmosphere with carbon from the burning of fossil fuels; that they foresaw that extreme environmental harm would be caused by it; that some of them, we contend, deliberately misled the public about that."

Eton College, Britain's elite boarding school with alumni that includes Princes William and Harry, as well as George Orwell and a long list of others, is banning incoming students from having smartphones. Instead, the school will provide students with a Nokia "brick" phone, which will only be capable of making calls and sending text messages. CBS News reports: Parents of first-year students at Eton -- where tuition exceeds $60,000 per year -- were informed of the changes in a letter, which said that incoming 13-year-old boarders should have their smart devices taken home after their SIM cards are transferred to offline Nokia phones provided by the school, which can only make calls and send simple text messages. Eton's previous rules on smartphones required first-year students to hand over their devices overnight.

"Eton routinely reviews our mobile phone and devices policy to balance the benefits and challenges that technology brings to schools," a spokesperson for the school told CBS News on Tuesday, adding that those joining in Year 9, essentially the equivalent of freshman year in high school for American students, "will receive a 'brick' phone for use outside the school day, as well as a school-issued iPad to support academic study." The spokesperson added that "age-appropriate controls remain in place for other year groups." The ban follows a recent guidance issued by the UK government backing school principals who decide to ban smartphones during the school day. The goal is to help minimize disruption and improve classroom behavior.

An anonymous reader quotes a report from the Washington Post: Federal regulators have for the first time banned a digital platform from serving users under 18 (Warning: source may be paywalled; alternative source), accusing the app -- known as NGL -- of exaggerating its ability to use artificial intelligence to curb cyberbullying in a groundbreaking settlement. Anapp popular among children and teens, NGL aggressively marketed to young users despite risks of bullying on the anonymous messaging site, the Federal Trade Commission and the Los Angeles District Attorney's Office alleged in a complaint unveiled Tuesday.

The complaint alleged that NGL tricked users into paying for subscriptions by sending them computer-generated messages appearing to be from real people and offering a service for as much as $9.99 a week to find out their real identity. People who signed up received only "hints" of those identities, whether they were real or not, enforcers said. After users complained about the "bait-and switch tactic," executives at the company "laughed off" their concerns, referring to them as "suckers," the FTC said in an announcement. NGL, internet shorthand for "not gonna lie," agreed to pay $5 million and stop marketing to kids and teens to settle the lawsuit, which also alleged that the company violated children's privacy laws by collecting data from youths under 13 without parental consent.

The settlement marks a major milestone in the federal government's efforts to tackle concerns that tech platforms are exposing children to noxious material and profiting from it. And it's one of the most significant actions by the FTC under Chair Lina Khan, who has dialed up scrutiny of the tech sector at the agency since taking over in 2021. "We will keep cracking down on businesses that unlawfully exploit kids for profit," Khan (D) said in a statement. NGL co-founder Joao Figueiredo said in a statement Tuesday that the company cooperated with the FTC's investigation for nearly two years and viewed the "resolution as an opportunity to make NGL better than ever."

"While we believe many of the allegations around the youth of our user base are factually incorrect, we anticipate that the agreed upon age-gating and other procedures will now provide direction for others in our space, and hopefully improve policies generally."

A U.S. government agency tasked with supporting the nation's nuclear deterrence capability has bought access to a data tool that claims to cover more than 90 percent of the world's internet traffic, and can in some cases let users trace activity through virtual private networks, according to documents obtained by 404 Media. From the report: The documents provide more insight into the use cases and customers of so-called netflow data, which can show which server communicated with another, information that is ordinarily only available to the server's owner, or the internet service provider (ISP) handling the traffic. Other agencies that have purchased the data include the U.S. Army, NCIS, FBI, IRS, with some government clients saying it would take too long to get data from the NSA, so they bought this tool instead. In this case, the Defense Threat Reduction Agency (DTRA) says it is using the data to perform vulnerability assessments of U.S. and allied systems.

A document written by the DTRA and obtained by 404 Media says the agency "has a requirement to support ongoing assessments of the vulnerability of critical U.S. and allied national/theater mission systems, networks, architectures, infrastructures, and assets." The tool "is capable of following communications between servers, even private servers," which allows the agency to identify infrastructure used by malicious actors, the document continues. That contract was for $490,000 in 2023, according to the document. 404 Media obtained the document and others under a Freedom of Information Act (FOIA) request.

Australia's government cybersecurity agency on Tuesday accused a China-backed hacker group of stealing passwords and usernames from two unnamed Australian networks in 2022, adding that the group remained a threat. From a report: A joint report led by the Australian Cyber Security Centre said the hackers, named APT40, had conducted malicious cyber operations for China's Ministry of State Security, the main agency overlooking foreign intelligence. "The activity and techniques overlap with the groups tracked as Advanced Persistent Threat (APT) 40," said the report, which included inputs from lead cyber security agencies for the United States, Britain, Canada, New Zealand, Japan, South Korea and Germany. U.S. and British officials in March had accused Beijing of a sweeping cyberespionage campaign that allegedly hit millions of people including lawmakers, academics and journalists, and companies including defense contractors. They said China-backed "APT31" was responsible for the network intrusion.

An anonymous reader quotes a report from TechCrunch: As deep-pocketed companies like Amazon, Google and Walmart invest in and experiment with drone delivery, a phenomenon reflective of this modern era has emerged. Drones, carrying snacks and other sundries, are being shot out of the sky. Incidents are still rare. However, a recent arrest in Florida, in which a man allegedly shot down a Walmart drone, raises questions of what the legal ramifications are and whether those consequences could escalate if these events become more common. [...] While consumer drones have been proliferating for well over a decade, the question of legal ramifications hasn't been wholly clear. The Federal Aviation Administration (FAA) gave us a partial answer following a 2016 drone shooting in Arkansas. At the time, the FAA pointed interested parties to 18 U.S.C. 32. The law, titled "Aircraft Sabotage," is focused on the wanton destruction of "any aircraft in the special aircraft jurisdiction of the United States or any civil aircraft used, operated or employed in interstate, overseas, or foreign air commerce."

At first glance, the law appears primarily focused on manned aircraft, including a provision that "makes it a Federal offense to commit an act of violence against any person on the aircraft, not simply crew members, if the act is likely to endanger the safety of the aircraft." In responding to the Arkansas drone shooting, however, the FAA asserts that such protections can be interpreted to also include UAVs (unmanned aerial vehicles). The language does, indeed, appear broad enough to cover drones. That means, in turn, that the penalties are potentially as stiff. The subject was revived after a 2020 incident in Minnesota. In that case, the suspect was hit with felony charges relating to criminal damage and discharging a weapon within city limits. Those would likely also be the charges in most scenarios involving property, rather than bodily damage, drone or not. Even with these examples, there is not a rigid rule that predicts if or when prosecutors might also introduce a federal charge like 18 U.S.C. 32.

As the legal blog Above the Law notes, in most cases, the federal government has deferred to state law for enforcement. Meanwhile, in most cases where 18 U.S.C. 32 has been applied, if a human crew/passengers are involved, there could be other potential charges like murder. It certainly can be argued that shooting a large piece of hardware out of the sky in a heavily populated area invites its own potential for bodily harm, though it may not be prosecuted in the same manner. As drone delivery increases in the U.S., however, we may soon have an answer to the role federal legislation like 18 U.S.C. 32 will play in UAV shootings. Adding that into the picture brings penalties, including fines and up to 20 years in prison, potentially compounding those consequences. What is clear, though, is that the consequences can be severe, whether it is invoked.

An anonymous reader quotes a report from Fortune: On February 1st last year, Montana residents gawked upwards at a large white object hovering in the sky that looked to be another moon. The airborne object was in fact a Chinese spy balloon loaded with cameras, sensors, and other high-tech surveillance equipment, and it set off a nationwide panic as it drifted across the midwestern and southern United States. How much information the balloon gathered -- if any -- remains unknown, but the threat was deemed serious enough that an F-22 U.S. Air Force jet fired a Sidewinder missile at the unmanned balloon on a February afternoon, blasting it to pieces a few miles off the coast of South Carolina. At the same time that the eyes of Americans were fixed on the Chinese intruder in the sky, around 30 cars owned by Chinese companies and equipped with cameras and geospatial mapping technology were navigating the streets of greater Los Angeles, San Francisco, and San Jose. They collected detailed videos, audio recordings, and location data on their surroundings to chart out California's roads and develop their autonomous driving algorithms.

Since 2017, self-driving cars owned by Chinese companies have traversed 1.8 million miles of California alone, according to a Fortune analysis of the state's Department of Motor Vehicles data. As part of their basic functionality, these cars capture video of their surroundings and map the state's roads to within two centimeters of precision. Companies transfer that information from the cars to data centers, where they use it to train their self-driving systems. The cars are part of a state program that allows companies developing self-driving technology -- including Google-spinoff Waymo and Amazon-owned Zoox -- to test autonomous vehicles on public roads. Among the 35 companies approved to test by the California DMV, seven are wholly or partly China-based. Five of them drove on California roads last year: WeRide, Apollo, AutoX, Pony.ai, and DiDi Research America. Some Chinese companies are approved to test in Arizona and Texas as well.

Fitted with cameras, microphones, and sophisticated sensors, self-driving cars have long raised flags among privacy advocates. Matthew Guariglia, a policy analyst at the digital rights nonprofit Electronic Frontier Foundation, called self-driving cars "rolling surveillance devices" that passively collect massive amounts of information on Americans in plain sight. In the context of national security however, the data-hungry Chinese cars have received surprisingly little scrutiny. Some experts have compared them to Chinese-owned social media site TikTok, which has been subjected to a forced divestiture or ban on U.S. soil due to fears around its data collection practices threatening national security. The years-long condemnation of TikTok at the highest levels of the U.S. government has heightened the sense of distrust between the U.S. and China.

Some Chinese self-driving car companies appear to store U.S. data in China, according to privacy policies reviewed byFortune -- a situation that experts said effectively leaves the data accessible to the Chinese government. Depending on the type of information collected by the cars, the level of precision, and the frequency at which it's collected, the data could provide a foreign adversary with a treasure trove of intelligence that could be used for everything from mass surveillance to war planning, according to security experts who spoke withFortune. And yet, despite the sensitivity of the data, officials at the state and federal agencies overseeing the self-driving car testing acknowledge that they do not currently monitor, or have any process for checking, exactly what data the Chinese vehicles are collecting and what happens to the data after it is collected. Nor do they have any additional rules or policies in place for oversight of Chinese self-driving cars versus the cars in the program operated by American or European companies. "It is literally the wild, Wild West here," said Craig Singleton, director of the China program at the Foundation for Defense of Democracies, a conservative-leaning national security think tank. "There's no one in charge."

A Wall Street Journal analysis has revealed that private insurers in the government's Medicare Advantage program, including UnitedHealth Group, have made numerous questionable diagnoses leading to increased taxpayer-funded payments between 2018 and 2021.

The investigation found instances where patients were diagnosed with conditions they did not have, such as diabetic cataracts and HIV, often without their knowledge. These diagnoses resulted in higher payments from Medicare to the insurers. The Centers for Medicare and Medicaid Services said they are implementing changes to ensure "taxpayer dollars are appropriately spent." The story adds: In all, Medicare paid insurers about $50 billion for diagnoses added just by insurers in the three years ending in 2021, the Journal's analysis showed.

"Russia has finally admitted that American astronauts did, in fact, land on the moon," reports Newsweek: Head of Russian Space Corporation Roscosmos, Yuri Borisov, accepted the truth of the U.S. putting a man on the moon in an address to the State Duma, Intellinews has reported.

"As for whether the Americans were on the Moon or not, I have one fact to share," he was reported to have said. "I was personally interested in this matter. At one time, they provided us with a portion of the lunar soil that the astronauts brought back during their expedition." Previous polling revealed that just under half of Russians believe America's 1969 moon landing was a government hoax. However, Borisov said that tests performed on the samples by the Russian Academy of Scientists confirmed their authenticity.

Boeing agreed on Sunday to plead guilty to conspiring to defraud the government in a case linked to crashes of its 737 Max jets in Indonesia and Ethiopia that killed 346 people -- a stunning turn for the aerospace giant after the Justice Department determined that Boeing failed to live up to terms of a 2021 deal to avoid prosecution. Washington Post adds: Prosecutors alleged that two Boeing pilots concealed key information from the Federal Aviation Administration about a new automated control system on the Max. The system was implicated in both crashes, causing uncontrollable dives. By agreeing to plead guilty to the single felony count just before a midnight deadline Sunday, the company will avoid going to trial in the high-profile case.

The Justice Department filed documents related to the deal in federal court in Texas late Sunday night, setting up a planned hearing where family members -- who have criticized the pending agreement -- will be permitted to speak out. The court subsequently must decide whether to accept the plea agreement. Boeing had already agreed to $2.5 billion in penalties and payouts in 2021. As part of the new deal, the company will pay an additional $487.2 million in penalties, agree to oversight by an independent monitor, spend at least $455 million to strengthen compliance and safety programs and be placed on supervised probation for roughly three years, according to a Justice Department official. The agreement also included one thing crash victims' families long sought: a meeting with Boeing's board of directors.

"China may be the world's second-largest economy," writes Fortune's news editor, "but when it comes to startup funding, the U.K. is punching above its weight." Startups in the U.K. raised $6.7 billion in funding during the first half of 2024, helping dethrone China and propelling the U.K. to second place globally for funds raised, according to a new report. Crucial to the U.K.'s success were a dozen funding rounds worth over $100 million each, including those of digital bank Monzo ($620 million), lender Abound ($862 million), and automated driving startup Wayve ($1.05 billion).

While the overall U.K. figure was down 2% year on year, according to data from global market intelligence platform Tracxn, it remained more robust than that of China, whose funding sat at $6.1 billion in H1 2024, helping the U.K. move into the No. 2 spot globally. The win is a milestone for the U.K. tech sector, which has remained under pressure owing to a string of challenges, including Brexit, COVID-19, and the subsequent global economic slowdown.

Only the U.S. saw startups raise more capital in H1, with a combined $54.8 billion raised across some 2,654 funding rounds in the first half of the year.
The article's last line? "With the arrival of new U.K. Prime Minister Keir Starmer, many will be hoping that the first Labour government in 14 years will continue to support the U.K.'s position as a critical player in the global tech landscape."