Russian hackers target high-level Microsoft data

A Russian state-sponsored hacking group that stole sensitive data from Microsoft Corp. executives is trying to leverage that information to compromise the company’s source code and internal systems, according to the technology giant.

A hacking group Microsoft first identified in January, called Midnight Blizzard, had more unauthorized access than previously thought, the company said on Friday. The hackers, also called Cozy Bear and APT29, were previously caught accessing emails that belonged to senior leaders, including cybersecurity and legal executives. Microsoft said customer-facing systems don’t appear to have been compromised.

The suspected Russian hackers have increased by tenfold their volume of attempted password spray attacks, a technique in which intruders attempt to use multiple passwords on specific user names to try breaching high-value accounts. The group also is attempting to use secrets shared between Microsoft and its customers in email. Microsoft now is alerting customers to the issue and helping mitigate the problem.

Microsoft also alerted the U.S. Securities and Exchange Commission to the matter.

Aldi expansion includes Southern California

Aldi plans to add 800 of its discount grocery stores across the U.S. in a five-year expansion plan as it looks to capitalize on cost-conscious Americans feeling the pinch at grocery stores.

The company said Thursday that its plan includes new store openings and store conversions. It’s looking to add almost 330 stores across the Northeast and Midwest regions by the end of 2028. The company will also add more stores in southern California and Phoenix and enter new cities, including Las Vegas.

Inflation has led many consumers to change the way they shop. Tired of prices that remain about 19% above where they were before the pandemic on average, consumers are seeking new avenues to cut down on spending. In grocery stores, they’re shifting away from name brands to store-brand items, switching to discount stores or simply buying fewer items like snacks or gourmet foods.

The growing consumer push back to what critics condemn as price-gouging has been most evident with food, as well as with consumer goods like paper towels and napkins.

Employers add 275,000 jobs in a strong month

If the economy is slowing down, nobody told the labor market.

Employers added 275,000 jobs in February, the Labor Department reported Friday, in another month that exceeded expectations even as the unemployment rate rose.

It was the third straight month of gains above 200,000 and the 38th consecutive month of growth fresh evidence that four years after going into pandemic shutdowns, America’s jobs engine still has plenty of steam.

“We’ve been expecting a slowdown in the labor market, a more material loosening in conditions, but we’re just not seeing that,” said Rubeela Farooqi, chief economist at High Frequency Economics.

At the same time, the unemployment rate, based on a survey of households rather than businesses, increased to a two-year high of 3.9%. The increase from 3.7% in January was driven by people losing or leaving jobs as well as those entering the labor force to look for work.

Average hourly earnings rose 4.3% over the year. Wages have outpaced prices since May, though the pace of increases has been fading.