Business news in brief

By The Associated Press

Justice Department disrupts vast Chinese hacking operation

WASHINGTON | The FBI has disrupted a group of hackers working at the direction of the Chinese government who targeted universities, government agencies and other organizations, Director Chris Wray said Wednesday.

The hacking campaign known as Flax Typhoon installed malicious software on more than 200,000 consumer devices, including cameras, video recorders and home and office routers, to create a massive botnet — a network of infected computers. The botnet was used to facilitate cyber crimes, such as the theft of sensitive information from victims’ networks.

Treasury rule would expand tax credits for installing electric vehicle chargers

WASHINGTON | The Biden administration is moving to clarify how homeowners and businesses can receive lucrative tax credits for installing electric vehicle chargers.

A rule proposed Wednesday by the Treasury Department would make credits worth up to $1,000 for individuals and $100,000 for businesses available for each EV charger that is installed. If finalized, the new rule would be especially valuable to businesses that plan to install multiple chargers and would be eligible for significant credits to offset the expense.

“In order to help more Americans go electric, we need to make sure they can charge their EVs where they live, work and shop – from inner-city neighborhoods to rural areas,” said John Podesta, White House senior advisor for international climate policy.

Boeing CEO says company will furlough employees

Boeing’s CEO said Wednesday that the company will begin furloughing “a large number” of employees to conserve cash during the strike by union machinists that began last week.

Chief Executive Kelly Ortberg said the people who would be required to take time off without pay starting in the coming days include executives, managers and other employees based in the U.S.

“While this is a tough decision that impacts everybody, it is in an effort to preserve our long-term future and help us navigate through this very difficult time,” Ortberg said in a company-wide message to staff.

—From AP reports