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An anonymous reader quotes a report from Bloomberg: Google parent Alphabet and the other four dominant U.S. technology companies -- Apple, Amazon, Microsoft, and Facebook -- are fast becoming industrial giants. They spent a combined $80 billion in the last year on big-ticket physical assets, including manufacturing equipment and specialized tools for assembling iPhones and the powerful computers and undersea internet cables Facebook needs to fire up Instagram videos in a flash. Thanks to this surge in spending -- up from $40 billion in 2015 -- they've joined the ranks of automakers, telephone companies, and oil drillers as the country's biggest spenders on capital goods, items including factories, heavy equipment, and real estate that are considered long-term investments. Their combined outlay is about 10 times what GM spends annually on its plants, vehicle-assembly robots, and other materials. The splurge by tech companies is behind an upswing in capital-goods spending among big U.S. companies, which is seeing its fastest growth in years, according to a Credit Suisse analysis. The $80 billion tab also is a snapshot of why it's tough to unseat the tech giants. How can a company hope to compete with Google's driverless cars when it spends $20 billion a year to ensure it has the best laser-guided sensors and computer chips? There are a lot of physical assets behind all those internet clouds.

An anonymous reader shares an article from Bloomberg: In early November, Qualcomm Chairman Paul Jacobs stood on a stage in the heart of Silicon Valley and vowed to break Intel's stranglehold on the world's most lucrative chip business. The mobile internet and cloud computing were booming and the data centers running this digital economy had an insatiable thirst for computer servers -- and especially the powerful, expensive server chips that Intel churns out by the million. Qualcomm had spent five years and hundreds of millions of dollars designing competing processors, trying to expand beyond its mobile business. Jacobs was leading a coming-out party featuring tech giants like Microsoft and HP, which had committed to try the new gear. "That's an industry that's been very slow moving, very complacent," Jacobs said on stage. "We're going to change that."

Less than a year later, this once-promising business is in tatters, according to people familiar with the situation. Most of the key engineers are gone. Big customers are looking elsewhere or going back to Intel for the data center chips they need. Efforts to sell the operation -- including a proposed management buyout backed by SoftBank -- have failed, the people said. Jacobs, chief backer of the plan and the son of Qualcomm's founder, is out, too. The demise is a story of debt-fueled dealmaking and executive cost-cutting pledges in the face of restless investors seeking quick returns -- exactly the wrong environment for the painstaking and expensive task of building a new semiconductor business from scratch. It leaves Qualcomm more reliant on a smartphone market that's plateaued. And Intel's server chip boss is happy.

Magic Leap, a US-based startup valued at north of $6 billion and which counts Google, Alibaba, Warner Bros, AT&T, and several top Silicon Valley venture capital firms as its investors, is pushing to land a contract with the U.S. Army to build augmented-reality devices for soldiers to use on combat missions, Bloomberg reported Friday, citing government documents and interviews with people familiar with the process. From the report: The contract, which could eventually lead to the military purchasing over 100,000 headsets as part of a program whose total cost could exceed $500 million, is intended to "increase lethality by enhancing the ability to detect, decide and engage before the enemy," according to an Army description of the program. A large government contract could alter the course of the highest-profile startup working on augmented reality, at a time when prospects to produce a consumer device remain uncertain.

Building tools to make soldiers more deadly is a far cry from the nascent consumer market for augmented reality. But the army's program has also drawn interest from Microsoft, whose HoloLens is Magic Leap's main rival. The commercial-grade versions of both devices still face significant technological hurdles, and its not clear the companies can fulfil the army's technical requirements. If recent history is any guide, a large military contract is also sure to be controversial within the companies. Last month, Magic Leap unveiled its much-hyped AR device to the press and select developers.

It looks like car-industry employees who are concerned about robots taking their jobs don't need to worry -- for now, at least. Of the 13 publicly traded automakers with at least 100,000 workers at the end of their most-recent fiscal year, 11 had more staff compared with year-end 2013, according to data compiled by Bloomberg. Combined, they had 3.1 million employees, or 11 percent more than four years earlier, the data show. From the report: Carmakers in China and other emerging markets, where growth is strongest, favor human labor because it requires less upfront investment, said Steve Man, an analyst at Bloomberg Intelligence in Hong Kong. In developed markets, tasks that can be handled by robots were automated years ago and automakers are now boosting hiring in research and development as the industry evolves. "There's been a lot of growth in emerging markets, especially China, so that's one reason automakers are adding staff," Man said. "More staff is being added on the R&D side, with the push for autonomous, electric, connected vehicles." A trio of Chinese automakers, SAIC Motor, Dongfeng Motor Group and BYD -- in which Warren Buffett is a major investor -- increased staff by at least 24 percent. Volkswagen accounted for more than one in five jobs among the group of 13, and increased its employee count by 12 percent in the period. Things, however, look differently at General Motors, which shrank its payroll 18 percent to 180,000, and Nissan Motor, which contracted by 2.8 percent to 139,000 workers, the report added.

Kai-Fu Lee, Chairman and CEO of Sinovation Ventures and author of "AI Superpowers: China, Silicon Valley and the New World Order," reports of the devastating impacts artificial intelligence could have on the developing world. An anonymous reader shares the report from Bloomberg: In recent decades, China and India have presented the world with two different models for how such countries can climb the development ladder. In the China model, a nation leverages its large population and low costs to build a base of blue-collar manufacturing. It then steadily works its way up the value chain by producing better and more technology-intensive goods. In the India model, a country combines a large English-speaking population with low costs to become a hub for outsourcing of low-end, white-collar jobs in fields such as business-process outsourcing and software testing. If successful, these relatively low-skilled jobs can be slowly upgraded to more advanced white-collar industries. Both models are based on a country's cost advantages in the performance of repetitive, non-social and largely uncreative work -- whether manual labor in factories or cognitive labor in call centers. Unfortunately for emerging economies, AI thrives at performing precisely this kind of work.

Without a cost incentive to locate in the developing world, corporations will bring many of these functions back to the countries where they're based. That will leave emerging economies, unable to grasp the bottom rungs of the development ladder, in a dangerous position: The large pool of young and relatively unskilled workers that once formed their greatest comparative advantage will become a liability -- a potentially explosive one. Increasing desperation in the developing world will contrast with a massive accumulation of wealth among the AI superpowers. AI runs on data and that dependence leads to a self-perpetuating cycle of consolidation in industries: The more data you have, the better your product. The better your product, the more users you gain. The more users you gain, the more data you have. Lee says the best thing emerging economies can do is to "recognize that the traditional paths to economic development -- the China and India models -- are no longer viable." Countries with "less-educated workers" are advised to build up human-centered service industries.

"At the same time, developing countries need to carve out their own niches within the AI landscape," Lee writes. "... governments need to fund the AI education of their best and brightest students, with the goal of building local companies that employ AI."

hackingbear shares a report from CNN: China's biggest tech firm announced Wednesday that the new [semiconductor] business will develop artificial intelligence chips for cloud computing, internet-connected devices and other sectors. Alibaba's chief technology officer, Jeff Zhang, said the e-commerce company's advantages in algorithms and data put it in "a unique position to lead real technology breakthroughs in disruptive areas, such as quantum and chip technology." "The market for chips is controlled by America ... and suddenly if they stop selling, what that means, you understand," Alibaba Executive Chairman Jack Ma told university students in Tokyo in April. "That's why China, Japan and any country -- you need core technologies." Ma's remarks came shortly after the U.S. Commerce Department blocked American companies from selling parts to ZTE, a Chinese tech company that relied on U.S. suppliers, including chipmakers, to manufacture smartphones and telecommunications equipment. Slashdot reader hackingbear adds: "The since-lifted ban woke up China to the (political) risks of dependence on American technologies, just like the U.S. is afraid of dependency on Chinese rare earth products which account for ~80% of world's supplies."

hackingbear shares a report from CNN: China's biggest tech firm announced Wednesday that the new [semiconductor] business will develop artificial intelligence chips for cloud computing, internet-connected devices and other sectors. Alibaba's chief technology officer, Jeff Zhang, said the e-commerce company's advantages in algorithms and data put it in "a unique position to lead real technology breakthroughs in disruptive areas, such as quantum and chip technology." "The market for chips is controlled by America ... and suddenly if they stop selling, what that means, you understand," Alibaba Executive Chairman Jack Ma told university students in Tokyo in April. "That's why China, Japan and any country -- you need core technologies." Ma's remarks came shortly after the U.S. Commerce Department blocked American companies from selling parts to ZTE, a Chinese tech company that relied on U.S. suppliers, including chipmakers, to manufacture smartphones and telecommunications equipment. Slashdot reader hackingbear adds: "The since-lifted ban woke up China to the (political) risks of dependence on American technologies, just like the U.S. is afraid of dependency on Chinese rare earth products which account for ~80% of world's supplies."

An anonymous reader quotes a report from Bloomberg: Tesla is under investigation by the Justice Department over public statements made by the company and Chief Executive Officer Elon Musk. The criminal probe is running alongside a previously reported civil inquiry by securities regulators. Federal prosecutors opened a fraud investigation after Musk tweeted last month that he was contemplating taking Tesla private and had "funding secured" for the deal. The tweet initially sent the company's shares higher. Tesla confirmed it has been contacted by the Justice Department. The investigation by the U.S. attorney's office in the Northern District of California follows a subpoena issued by the Securities and Exchange Commission seeking information from the electric-car maker about Musk's plans to go private, which he has since abandoned. Tesla said in a statement following Bloomberg's report: "Last month, following Elon's announcement that he was considering taking the company private, Tesla received a voluntary request for documents from the DOJ and has been cooperative in responding to it. We have not received a subpoena, a request for testimony, or any other formal process. We respect the DOJ's desire to get information about this and believe that the matter should be quickly resolved as they review the information they have received."

According to Bloomberg, the next round of China tariffs won't include devices that receive and transmit voice data, a category that includes the Apple Watch, Fitbits, Sonos Speakers, and a host of other fitness trackers and home assistants. The Verge reports: The White House recently backed down on the rate at which the imports would be taxed. Over the weekend, The Wall Street Journal reported that listed goods would likely be taxed at only 10 percent. As recently as August, President Trump had considered setting the rate at 25 percent. Customs documents describe the category in vague terms, listing the devices as "machines for the reception, conversion and transmission or regeneration of voice, images or other data." But that vague category has come to encompass a wide range of personal tech, including fitness trackers and personal voice assistants. The Apple Watch, AirPods, HomePod, BeatsWL, AirPort, and Time Capsule all fall under the code, according to a letter submitted by Apple to the U.S. Trade Representative. Other categories of Apple products will still be affected by the tariff, including adapters, the Mac mini, and any circuit boards or internal components shipped individually to the United States.

A lawyer known for battling tech giants over the treatment of workers has set her sights on International Business Machines Corp. Bloomberg reports: Shannon Liss-Riordan on Monday filed a class-action lawsuit in federal court in Manhattan on behalf of three former IBM employees who say the tech giant discriminated against them based on their age when it fired them. Liss-Riordan, a partner at Lichten & Liss-Riordan in Boston, has represented workers against Amazon, Uber and Google and has styled her firm as the premier champion for employees left behind by powerful tech companies. "Over the last several years, IBM has been in the process of systematically laying off older employees in order to build a younger workforce," the former employees claim in the suit, which draws heavily on a ProPublica report published in March that said the company has fired more than 20,000 employees older than 40 in the last six years.

The lawsuit comes as IBM faces questions about its firing practices. In exhaustive detail, the ProPublica report made the case that IBM systematically broke age-discrimination rules. Meanwhile, the Equal Employment Opportunity Commission has consolidated complaints against IBM into a single, targeted investigation, according to a person familiar with it. Further reading: IBM Fired Me Because I'm Not a Millennial, Alleges Axed Cloud Sales Star in Age Discrim Court Row, and IBM is Telling Remote Workers To Get Back in the Office Or Leave.

Home cooking would be making a comeback if it ever really went away. From a report: Restaurants are getting dinged by the convenience of Netflix, the advent of pre-made meals, the spread of online grocery delivery, plus crushing student debt and a focus on healthy eating. Eighty-two percent of American meals are prepared at home -- more than were cooked 10 years ago, according to researcher NPD Group. The latest peak in restaurant-going was in 2000, when the average American dined out 216 times a year. That figure fell to 185 for the year ended in February, NPD said.

Don't be fooled by reports of rising U.S. restaurant sales at big chains like McDonald's. Increases have been driven by price hikes, not more customers. Traffic for the industry was down 1.1 percent in July, the 29th straight month of declines, according to MillerPulse data. "It's counterintuitive because you see a lot of things in the press about restaurant sales increasing," said David Portalatin, a food-industry adviser at NPD. "America does still cook at home." The shift is weighing on the fast-food industry. Eateries already are struggling with higher labor and rent costs that they're passing along to customers, which in turn makes home cooking more economical. McDonald's, Jack in the Box, Shake Shack and Wendy's have all raised prices in the past year.

Three years ago, Apple introduced 3D Touch for the iPhone 6s and 6s Plus, a pressure-sensitive feature that uses capacitive sensors integrated into the smartphone's display to sense three degrees of pressure in a user's touch and respond differently based on the amount of pressure exerted. It's a neat idea as it has allowed users to interact with the user interface in a completely new way. Now, with the release of the new iPhone XR, Apple seems to be on the way to phasing it out. The Verge reports: While both the new iPhone XS and XS Max include 3D Touch, Apple has chosen not to include the feature on the iPhone XR. Yes, that phone is cheaper, and Apple had to strip out some features, but 3D Touch has been included on iPhones in that price range since it was introduced not too long ago, so this feels less like necessary cost savings and more like planned omission. There have always been a few core problems with 3D Touch. For one, its use often amounted to the right click of a mouse, which is funny coming from the company that famously refused to put a dedicated right button on its mice or trackpads. And selecting from those right click options was rarely faster or a substantially more useful way of getting something done than just tapping the button and manually navigating to where you needed to go. People also didn't know the feature was there. The iPhone did little to train users on 3D Touch. And even the people who knew it was there had no way to tell which icons supported it without just 3D pressing everything to see what happened.

Apple isn't entirely removing the concept of 3D Touch from the iPhone XR. Instead, the phone will include something Apple is calling Haptic Touch, which will make a click when you activate a button's secondary feature by pressing and holding it. But that replacement underscores just how useless 3D Touch has really become: it's not more than a very, very fancy long press. That's something phones have always been capable of. And despite the name, I've found long press features to be faster and easier to use than their 3D Touch equivalent. Instagram, for instance, lets you preview photos with a 3D Touch on the iPhone or a long press on Android. I find the Android version to be simpler and quicker. Here's what Apple's marketing leader, Phil Schiller, had to say about the feature back in 2015 when it was first introduced: "'Engineering-wise, the hardware to build a display that does what [3D Touch] does is unbelievably hard,' says Schiller. 'And we're going to waste a whole year of engineering -- really, two -- at a tremendous amount of cost and investment in manufacturing if it doesn't do something that [people] are going to use. If it's just a demo feature and a month later nobody is really using it, this is a huge waste of engineering talent.'"

An anonymous reader quotes a report from Bloomberg: Thirty years ago in December, the modern exchange of scholars between the U.S. and China began. Since then, Chinese academics have become the most prolific global contributors to publications in physical sciences, engineering and math. Recent attempts by the U.S. to curtail academic collaboration are unlikely to change this trend. Qingnan Xie of Nanjing University of Science & Technology and Richard Freeman of Harvard University have studied China's contribution to global scientific output. They document a rapid expansion between 2000 and 2016, as the Chinese share of global publications in physical sciences, engineering and math quadrupled. By 2016, the Chinese share exceeded that of the U.S. Furthermore, the authors argue that these metrics -- which are based on the addresses of the authors -- understate China's impact. The data don't count papers written by Chinese researchers located in other countries with addresses outside China and exclude most papers written in Chinese publications. The researchers adjusted for both factors and conclude that Chinese academics now account for more than one-third of global publications in these scientific fields.

A village in Switzerland has decided to go ahead with an experiment on basic income, with a payout of 2,500 francs ($2,570) per month. The next step is to raise money to finance the plan via crowdfunding. From a report: More than 50 percent of the inhabitants of Rheinau, close to the German border, signed up for the project, according to the organizers website. At least half the 1,300 inhabitants needed to say 'yes,' and the count stood at 692 on Monday. The submitted ballots still have to be checked against government data to ensure eligibility. The decision comes two years after a proposal for a nationwide unconditional state stipend failed to pass in a national vote. Rheinau, on the banks of the river Rhine an hour by train from the banking hub of Zurich, was selected by filmmaker Rebecca Panian for the basic income trial. She says she became fascinated by the notion during the national debate before up the 2016 vote, decided to select a village as a guinea pig, and make a documentary.

According to a new report from Bankrate, actuarial science, the formal term for the study of insurance, was ranked the most valuable college major.

"The actuarial science profession is interesting because students don't need advanced degrees to gain livable wages, but instead are certified through a series of exams overseen by the industry's professional organizations," said Bankrate.com analyst Adrian Garcia in an interview. "Students typically pass one to two of these exams while in school and then go on and complete others while working, earning raises and bonuses as they pass." Bloomberg reports: Actuarial science majors earn an average annual salary of $108,658 and have a better-than-average unemployment rate at 2.3 percent. And at a time when student debt is at a record high, these graduates are less likely to incur the added expense of additional schooling and delayed earning potential. Less than 1 in 4 graduates pursue advanced degrees. The study ranked 162 majors with labor forces of at least 15,000 people based on average annual income, employment status and whether those graduates went on to pursue a higher degree within 12 months. Income accounted for 70 percent of the weighted ranking, unemployment for 20 percent and 10 percent was awarded to career paths that did not demand additional education. The data was derived from the U.S. Census Bureau's 2016 American Community Survey.

An anonymous reader quotes a report from Bloomberg: The cryptocurrency bear market plumbed a fresh 10-month low on Monday as Bitcoin's biggest rival tumbled and U.S. regulators suspended trading in two securities linked to digital assets. Ether, the second-largest virtual currency, slumped 11 percent from its level at 5 p.m. New York time on Friday, according to Bloomberg composite pricing. Bitcoin declined 2.4 percent, while the market capitalization of digital assets tracked by CoinMarketCap.com shrank to about $197 billion -- down almost $640 billion from its January peak. Cryptocurrencies have declined for five of the past six weeks amid concern that a broader adoption of digital assets will take longer than some had anticipated. That worry was underscored over the weekend after the U.S. Securities and Exchange Commission temporarily suspended trading in two exchange-traded notes linked to cryptocurrencies and Ethereum co-founder Vitalik Buterin told Bloomberg that the days of explosive growth in the blockchain industry have likely come and gone.

The days of explosive growth in the blockchain industry have likely come and gone now the average person is aware of its existence, according to Vitalik Buterin, co-founder of Ethereum. From a report: "The blockchain space is getting to the point where there's a ceiling in sight," Buterin said in a Sept. 8 interview with Bloomberg at the Ethereum Industry Summit conference in Hong Kong. "If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn't an opportunity for yet another 1,000-times growth in anything in the space anymore." Growth in Bitcoin and other cryptocurrencies in the blockchain community through its first six or seven years was dependent on marketing and trying to get wider adoption, Buterin said. "That strategy is getting close to hitting a dead end," he said.

An anonymous reader quotes a report from Bloomberg: Apple, the world's most valuable company, said proposed U.S. tariffs on $200 billion worth of products imported from China will raise prices for some of its popular consumer goods such as the Apple Watch and AirPods headphones. The Mac mini desktop computer, Apple Pencil stylus accessory for iPads, various chargers and adapters and tooling equipment used to manufacturer and design some products in the U.S. will also be affected, the Cupertino, California-based company told the Office of U.S. Trade Representative in a letter dated Sept 5.

The company said the tariffs would "show up as a tax on U.S. consumers" and "increase the cost of Apple products that our customers have come to rely on in their daily lives." Beyond the core products, Apple said accessories like the HomePod speaker, some Beats speakers, AirPort and Time Capsule internet routers, the Magic Mouse and Magic Trackpad, and leather cases for the iPhone, iPad, MacBook and Apple Pencil would be affected. It said some of the parts it relies on for product development, including processors and research equipment, would also be hit by the tariffs. On Friday, President Trump said he's prepared to impose tariffs on an additional $267 billion in Chinese imports, which would affect almost every category of consumer goods, according to analysts. He cites unfair trade practices as a reason for the tariffs.

Facebook is suing BlackBerry, claiming the company stole its voice-messaging technology and other patented processes. The social media company is seeking unspecified damages for infringement of six patents. Bloomberg reports: In addition to the voice-messaging patent, Facebook cites infringement of patented technology that improves how a mobile device delivers graphics, video and audio and another that centralizes tracking and analysis of GPS data. In March, BlackBerry sued Facebook in federal court in Los Angeles, accusing the social media giant of infringing on its mobile messaging patents. BlackBerry claimed Facebook made unauthorized use of its technology in its own instant messenger service, Facebook Messenger, and in WhatsApp Messenger and Instagram.

JD.com's billionaire founder, Liu Qiangdong, is under investigation for a suspected rape in a weekend incident that led to his arrest in Minnesota. He was reportedly in Minneapolis for his studies since he is a doctoral student at the University of Minnesota. According to the Financial Times and Star-Tribune, the case involves a Chinese student at the college. Bloomberg reports: Liu was brought in at 11:32 p.m. Aug. 31 on an accusation of "criminal sexual conduct" and released just more than 16 hours later, according to arrest records. Minneapolis Police Department spokesman John Elder said the case is being investigated as a rape, but authorities decided not to keep Liu in custody and haven't imposed any travel restrictions while conducting their investigation. Police responded to a location Friday night, found Liu and another individual, took photos and arrested the CEO, Elder said. Liu, 45, returned to China after his release and was at work Tuesday at JD.com, the country's largest e-commerce company after Alibaba.

An anonymous reader quotes a report from Bloomberg: Mercedes-Benz, the world's largest maker of luxury cars, is rolling out its first in a series of battery-powered models, adding to a growing array of high-end brands targeting Tesla. The Mercedes EQC crossover starts production in the first half of next year, part of a plan to develop its EQ electric line, Daimler AG Chief Executive Officer Dieter Zetsche told reporters in Stockholm at the car's world premiere. The company intended to invest $12 billion on the electric-car push, but the spending has become "more than that," he said Tuesday, without specifying figures. "There is no alternative to betting on electric cars, and we're going all in," Zetsche said. "It is starting right now." The new EQC -- roughly the size of the brand's popular GLC SUV -- features a range of more than 280 miles and accelerates to 62 mph in as little as 5.1 seconds. The Model X has a range of 237 miles. Daimler doesn't plan to establish a dedicated electric assembly plant and will instead build the vehicles at the same sites as conventional automobiles to be able to better adjust output, Zetsche said, adding that he expects demand to mainly eat into sales of combustion cars rather than lure new customers.

The largest U.S. telecom companies are slowing internet traffic to and from popular apps like YouTube and Netflix, according to new research from Northeastern University and the University of Massachusetts, Amherst. Bloomberg: The researchers used a smartphone app called Wehe, downloaded by about 100,000 consumers, to monitor which mobile services are being throttled when and by whom, in what likely is the single largest running study of its kind. Among U.S. wireless carriers, YouTube is the No. 1 target of throttling, where data speeds are slowed, according to the data. Netflix's video streaming service, Amazon.com's Prime Video and the NBC Sports app have been degraded in similar ways, according to David Choffnes, one of the study's authors who developed the Wehe app. From January through early May, the app detected "differentiation" by Verizon Communications Inc. more than 11,100 times, according to the study. This is when a type of traffic on a network is treated differently than other types of traffic. Most of this activity is throttling. AT&T Inc. did this 8,398 times and it was spotted almost 3,900 times on the network of T-Mobile US and 339 times on Sprint's network, the study found.

Most of the buildings in Ocean Falls that haven't been demolished over the decades are crumbling in place, and Greg Strebel, along with most everyone who once lived there, is long gone. A population that peaked at 5,000 has fallen below 100. But this summer, the mill began to emit a new sound. From a report: It was more of a buzz than a throb, really, but plenty loud to be heard as far away as the ferry dock and the old firehouse. It was the noise of hundreds of tiny fans blowing air past hundreds of tiny computers, keeping them cool while they ran 24 hours a day, creating Bitcoins. The Bitcoin mine has come to Ocean Falls after almost four decades of false starts. The town went dormant once the paper industry left, but it wasn't dead, exactly. The dam that powered the mill was still capable of producing about 13 megawatts of electricity. Some of that went to power Ocean Falls and two nearby towns, Bella Bella and Shearwater. But even in the middle of winter, their residents used less than one-third of the electricity, leaving plenty to support new industrial uses. The dam wasn't connected to the grid, a shortcoming that could also be an advantage in the right hands. Any power-hungry business willing to set up nearby would be well-positioned to negotiate a sweetheart deal.

For most industries, the remoteness of Ocean Falls offsets the benefits of cheap power. It's about 300 miles up the coast from Vancouver, accessible only by boat or seaplane. Strebel's teenage protestations aside, severe weather is a real issue. It's one of the rainier places on the continent, and high winds in the long winter months can hinder travel. And so almost every plan -- for casinos, breweries, marijuana-growing operations and water-bottling plants -- came and went with little tangible impact. At one point, a group of businessmen sought to fill ocean tankers with water from the town and sell it to California or Saudi Arabia. The only substantial business for now is a salmon hatchery. But several years ago, employees at Boralex, the private utility that owns the dam, began getting phone calls from Bitcoin miners, mysterious people untethered from the restraints of businesses producing actual physical goods.

Apple's self-driving car program has reported its first-ever accident, according to a filing to the state's DMV. No injuries were reported. AppleInsider reports: A test car was rear-ended by a Nissan Leaf while merging onto an expressway, Bloomberg's Mark Gurman said on Twitter. The Apple vehicle suffered "moderate" damage. Details are still forthcoming, so it's unclear if the fault was with the Nissan driver, Apple's hardware and software, or some combination of the two. In an update, AppleInsider provided the following information: "The Apple vehicle, a Lexus SUV, was merging onto the Lawrence Expressway in California's Bay Area on Aug. 24, Gurman later wrote, citing a filing by Apple's Steve Kenner with the Department of Motor Vehicles. The Leaf was moving at just 15 miles per hour, but was also damaged."

China's regulators plan to curtail the number of online games and discourage play-time, part of a broader effort to tackle device addiction and other ills that sent shares reeling from the U.S. to Japan. From a report: The curbs were just one aspect of a swathe of edicts intended to address the health and growing incidence of myopia among children. But they come on top of a months-long freeze in game approvals, further muddying the waters for an industry that labors under one of the world's most opaque regulatory regimes.

While the new regulations encompassed everything from encouraging outdoor activities to usage of electronics, investors zeroed in on the game curbs during a highly sensitive time for the industry. The government hasn't given any explanation for a freeze on title approvals since March, prompting debate over whether it's a temporary halt due to regulatory reshuffling or whether Beijing is planning a crackdown in a wider campaign against online content. Tencent's inability to monetize its hottest games also cast doubt over the relationship between the world's largest gaming company and the government.

According to Bloomberg, citing people with knowledge of the deal, Google purchased "a stockpile of Mastercard transactions" that allowed Google advertisers to see whether the ads they ran online led to a sale at a physical store in the U.S. This arrangement was never shared with the public. From the report: Alphabet's Google and Mastercard brokered a business partnership during about four years of negotiations. The alliance gave Google an unprecedented asset for measuring retail spending, part of the search giant's strategy to fortify its primary business against onslaughts from Amazon and others. But the deal, which has not been previously reported, could raise broader privacy concerns about how much consumer data technology companies like Google quietly absorb.

Google paid Mastercard millions of dollars for the data [...] and the companies discussed sharing a portion of the ad revenue. A spokeswoman for Google said there is no revenue sharing agreement with its partners. A Google spokeswoman declined to comment on the partnership with Mastercard, but addressed the ads tool. "Before we launched this beta product last year, we built a new, double-blind encryption technology that prevents both Google and our partners from viewing our respective users' personally identifiable information," the company said in a statement. "We do not have access to any personal information from our partners' credit and debit cards, nor do we share any personal information with our partners." The company said people can opt out of ad tracking using Google's "Web and App Activity" online console. Inside Google, multiple people raised objections that the service did not have a more obvious way for cardholders to opt out of the tracking.

California's assembly has voted to move the state's electricity completely off fossil fuels. The state assembly this week passed S.B. 100, a proposal to transition California to 100 percent emissions-free electricity sources by 2045. A report adds: The Assembly voted 43-32 in favor of the legislation Tuesday. It would eliminate the reliance on fossil fuels to power homes, businesses and factories in the world's fifth-largest economy, accelerating a shift already under way. The state currently gets about 44 percent of its power from renewables and hydropower. California has positioned itself to lead the battle against climate change by cutting emissions even as the Trump administration has worked to roll back the state's stringent auto pollution standards and prop up ailing coal-fired power plants. Earlier this year, California became the first U.S. state to mandate solar rooftop panels on almost all new homes. It would be the second state to require 100 percent carbon-free power after Hawaii.

Next month, Apple plans to introduce three new phones in September -- an updated iPhone X, a bigger phone and a successor to the iPhone 8 with the iPhone X design, Bloomberg reports. The updated iPhone X could be considered as an "S upgrade" with a better system-on-a-chip and better cameras. The phone itself could look exactly the same as the iPhone X you can buy today. From the report: There'll be a new high-end iPhone, internally dubbed D33, with a display that measures about 6.5-inch diagonally, according to the people familiar with the matter. That would make it the largest iPhone by far and one of the biggest mainstream phones on the market. It will continue to have a glass back with stainless steel edges and dual cameras on the back. The big difference on the software side will be the ability to view content side-by-side in apps like Mail and Calendar. It will be Apple's second phone with a crisper organic light-emitting diode, or OLED, screen.

[...] Apple also plans an upgrade to the current iPhone X with a 5.8-inch OLED screen, which is internally dubbed D32, the people said. The main changes to the new OLED iPhones will be to processing speed and the camera, according to the people familiar with the devices. [...] Perhaps the most significant phone will be a new, cheaper device destined to replace the iPhone 8. Codenamed N84, it will look like the iPhone X, but include a larger near 6.1-inch screen, come in multiple colors, and sport aluminum edges instead of the iPhone X's stainless steel casing. It will also have a cheaper LCD screen instead of an OLED panel to keep costs down. The cheaper version's aluminum edges won't necessarily be the same color as the colored glass back, simplifying production, one person familiar with the matter said.

Japan is making a push to develop flying cars, enlisting companies including Uber and Boeing in a government-led group to bring airborne vehicles to the country in the next decade. From a report: The group will initially comprise 21 businesses and organizations, including Airbus, NEC, a Toyota Motor-backed startup called Cartivator, ANA, Japan Airlines, and Yamato, according to a statement Friday from the trade ministry in Tokyo. Delegates will gather Aug. 29 to help chart a road map this year, it said. "The Japanese government will provide appropriate support to help realize the concept of flying cars, such as creation of acceptable rules," the ministry said. Flying cars that can zoom over congested roads are closer to reality than many people think. Startups around the world are pursuing small aircraft, which were until recently only in the realm of science fiction. With Japanese companies already trailing their global peers in electric vehicles and self-driving cars, the government is showing urgency on the aircraft technology, stepping in to facilitate legislation and infrastructure to help gain leadership.

Tap on the Venmo app on your phone, and chances are you'll greeted with a running list of payments made from one person to another for anything from brunch bills to rent payments. But the real-time ticker of strangers' spending habits could soon go away. From a report: In recent weeks, executives at PayPal, the parent company of Venmo, were weighing whether to remove the option to post and view public transactions, said a person familiar with the deliberations. It's unclear if those discussions are still ongoing, and regardless of the outcome, payments between friends would still be visible on the home feed, said the person, who asked not to be identified because the discussions are private. "Venmo is always evaluating what's best for our customers," a PayPal spokesman wrote in an emailed statement. "The safety and privacy of Venmo users and their information is always a top priority, and we do a number of things to keep our users informed and help them protect and control their privacy."

Last month, Bloomberg shed some light on a secretive Australian startup called Zoox that is working on an autonomous vehicle unlike any other. It can reportedly make noises to communicate with pedestrians and drive bidirectionally, meaning it can cruise into a parking spot one way and cruise out the other. Today, it is being reported that their CEO Tim Kentley-Klay is being dismissed from the company after closing a massive financing round in July to the tune of $500 million. From the report: Kentley-Klay tweeted on Wednesday that the firing came "without a warning, cause or right of reply." "Today was Silicon Valley up to its worst tricks," he wrote. Jesse Levinson, the company's other co-founder and current chief technology officer, will be promoted to president, said a person familiar with the decision who asked not to be identified because the discussions are private. The person declined to offer an explanation for the move. Carl Bass, the former CEO of Autodesk and a Zoox board member, was named executive chairman for the company.

In an emotional missive on Twitter, Kentley-Klay criticized the board for their decision. "Rather than working through the issues in an epic startup for the win, the board chose the path of fear," he wrote, charging that the directors were "optimizing for a little money in hand at the expense of profound progress." Before starting Zoox, Kentley-Klay was offered a job with Google's self-driving project, now called Waymo. He turned it down, and has touted Zoox's strategy of building its own vehicles for full autonomy as wiser than the standard approach of retrofitting existing cars that Alphabet Inc.'s Waymo and others are taking. The Zoox board, which includes Levinson, voted to oust Kentley-Klay, said the person familiar with the situation.

Apple has removed Facebook's Onavo security app from the App Store because it violated the company's privacy rules. In a statement to CNBC, an Apple spokesperson said: "We work hard to protect user privacy and data security throughout the Apple ecosystem. With the latest update to our guidelines, we made it explicitly clear that apps should not collect information about which other apps are installed on a user's device for the purposes of analytics or advertising/marketing and must make it clear what user data will be collected and how it will be used." From the report: According to a Wall Street Journal story on Wednesday, citing a person familiar with the matter, Apple officials told Facebook last week that Onavo violated the company's rules on data collection by developers, and suggested last Thursday that Facebook voluntarily remove the app. Facebook acquired Israel-based Onavo in 2013, snapping up the free security app that lets users access a virtual private network, or VPN, to browse the web and download apps with a greater degree of privacy. Facebook in the past has offered that service to users without clearly disclosing that its owns the app, and has collected data about what other types of apps those customers use. In June, Facebook told Congress that it does not use Onavo data "for Facebook product uses" or to collect information about individuals, but it has admitted to using Onavo to gather broad information about which apps are popular and how people are using them, which it uses to improve its own products.

A backlash against the app stores of Apple and Google is gaining steam, with a growing number of companies saying the tech giants are collecting too high a tax for connecting consumers to developers' wares. From a report: Netflix and video game makers Epic Games and Valve are among companies that have recently tried to bypass the app stores or complained about the cost of the tolls Apple and Google charge. Grumbling about app store economics isn't new. But the number of complaints, combined with new ways of reaching users, regulatory scrutiny and competitive pressure are threatening to undermine what have become digital goldmines for Apple and Google. "It feels like something bubbling up here," said Ben Schachter, an analyst at Macquarie. "The dollars are just getting so big. They just don't want to be paying Apple and Google billions." Apple and Google launched their app stores in 2008, and they soon grew into powerful marketplaces that matched the creations of millions of independent developers with billions of smartphone users. In exchange, the companies take up to 30 percent of the money consumers pay developers.

"It has taken 60 years, but a small, strange gap in Interstate-95 is being filled," writes Slashdot reader McGruber. Bloomberg reports: Near the Pennsylvania border, drivers have long been forced off the interstate and onto other roadways, only to join back 8 miles away. Transportation officials and civil engineers spent more than two decades and $425 million to eliminate this detour off I-95, the most traveled highway in America, spanning 1,900 miles from Miami to Maine.

The Pennsylvania Turnpike Commission, which oversees the I-95 Interchange Project, said the new infrastructure -- which includes the creation of flyover ramps, toll plaza facilities, environmental mitigation sites, intersections, six overhead bridges, widened highways and new connections to the New Jersey and Pennsylvania turnpikes -- will be open to the public by Sept. 24. "The benefit of completing this 'missing link' is mobility," said Carl DeFebo, the director of public relations at the Pennsylvania Turnpike Commission. The new infrastructure will reduce traffic time for north- and south-bound travelers and ease congestion on local roads that used to connect I-95 to the Pennsylvania Turnpike.

Several readers have shared this Bloomberg report: Amazon Web Services, the company's cloud computing business, is its fastest-growing and most profitable division, but it comes with a lot of upfront infrastructure costs and ongoing expenses, the biggest of which is electricity. Over the past two years, Amazon has almost doubled the size of its physical footprint worldwide, to 254 million square feet, including dozens of new data centers with vast fields of servers running 24/7. In at least two states, it's also negotiated with utilities and politicians to stick other people with the bills, piling untold millions of dollars on top of the estimated $1.2 billion in state and municipal tax incentives the company has received over the past decade.

Other companies, including Google and Tesla, have taken advantage of the power industry's hunger for growth and the relative secrecy that followed its 1990s deregulation in dozens of states. But Amazon stands out for its success in offloading its power costs and also because it dominates America's cloud business, which has gone from nonexistent to using 2 percent of U.S. electricity in about a decade. "Amazon had a huge advantage, because there weren't a lot of other sectors growing in the electricity market," says Neal Elliott, senior director of research at the American Council for an Energy-Efficient Economy (ACEEE), a green lobbying group. The company has also ratcheted up the secrecy around who's paying for electricity, says environmental advocate Greenpeace, which calls Amazon the single biggest obstacle to industry transparency.

Bloomberg's Tyler Cowen writes about "the erosion of personal ownership and what that will mean for our loyalties to traditional American concepts of capitalism and private property." An anonymous Slashdot reader shares the report: The main culprits for the change are software and the internet. For instance, Amazon's Kindle and other methods of online reading have revolutionized how Americans consume text. Fifteen years ago, people typically owned the books and magazines they were reading. Much less so now. If you look at the fine print, it turns out that you do not own the books on your Kindle. Amazon.com Inc. does. I do not consider this much of a practical problem. Although Amazon could obliterate the books on my Kindle, this has happened only in a very small number of cases, typically involving account abuse. Still, this licensing of e-books, instead of stacking books on a shelf, has altered our psychological sense of how we connect to what we read -- it is no longer truly "ours."

The change in our relationship with physical objects does not stop there. We used to buy DVDs or video cassettes; now viewers stream movies or TV shows with Netflix. Even the company's disc-mailing service is falling out of favor. Music lovers used to buy compact discs; now Spotify and YouTube are more commonly used to hear our favorite tunes. Each of these changes is beneficial, yet I worry that Americans are, slowly but surely, losing their connection to the idea of private ownership. The nation was based on the notion that property ownership gives individuals a stake in the system. It set Americans apart from feudal peasants, taught us how property rights and incentives operate, and was a kind of training for future entrepreneurship. We're hardly at a point where American property has been abolished, but I am still nervous that we are finding ownership to be so inconvenient.

Last week, Uber reported a second-quarter loss of $891 million, even though it brought in $2.8 billion in revenue. "While it's a 16 percent improvement from a year earlier, the loss follows a rare profit posted in the first quarter, thanks largely to the sale of overseas assets," reports Bloomberg. As a result, the company is being pressured by investors to sell its self-driving cars unit, which Uber is spending $125-200 million a quarter to maintain. From the report: Even after increased spending last quarter, revenue growth is slowing. Sales rose 63 percent to $2.8 billion in the second quarter compared with the same period last year. The rate in the first quarter was 70 percent. [Uber CEO Dara Khosrowshahi] Khosrowshahi is pouring large, undisclosed sums of money into food delivery, logistics and autonomous-car technology. The San Francisco-based company has said the food delivery business, Uber Eats, represents more than 10 percent of its gross bookings. Growth in that segment may be masking a slowdown in Uber's main business.

Last week, Uber reported a second-quarter loss of $891 million, even though it brought in $2.8 billion in revenue. "While it's a 16 percent improvement from a year earlier, the loss follows a rare profit posted in the first quarter, thanks largely to the sale of overseas assets," reports Bloomberg. As a result, the company is being pressured by investors to sell its self-driving cars unit, which Uber is spending $125-200 million a quarter to maintain. From the report: Even after increased spending last quarter, revenue growth is slowing. Sales rose 63 percent to $2.8 billion in the second quarter compared with the same period last year. The rate in the first quarter was 70 percent. [Uber CEO Dara Khosrowshahi] Khosrowshahi is pouring large, undisclosed sums of money into food delivery, logistics and autonomous-car technology. The San Francisco-based company has said the food delivery business, Uber Eats, represents more than 10 percent of its gross bookings. Growth in that segment may be masking a slowdown in Uber's main business.

An anonymous reader quotes a report from Bloomberg: Amazon is developing a new device that records live TV, working around cable providers and encroaching on TiVo's market, according to a person familiar with the plans. The device, dubbed "Frank" inside Amazon, is a new type of digital video recorder for the streaming era. It would include physical storage and connect to Amazon's existing Fire TV boxes, the living room hub for the company's online video efforts. The Frank DVR has the same wireless technology that Amazon's Echo speakers use to connect to Fire TV boxes. Users will be able to record live TV and stream the video to a smartphone so it can be watched later. That functionality is similar to offerings from TiVo and Dish's Slingbox. Amazon hasn't made a final decision on rolling out the streaming feature, the person said, noting that the plans could either be canceled or delayed.

Amazon is turning up the volume in the music business. From a report: The world's largest online retailer will mount the first national TV campaign for its music-streaming service, featuring ads with songs from Ariana Grande, Kendrick Lamar and Queen. They're part of a larger effort that will extend to billboards, online video and radio, and to three countries -- the U.S., U.K. and Germany. Music has ascended the priority list at Amazon.com because of the popularity of the company's Echo speakers and the virtual assistant Alexa. Music is one of the most common requests of Alexa, and listening hours have doubled over the past year, the company said. "We're pouring fuel on the fire," Steve Boom, the head of Amazon Music said in an interview. "We have established ourselves as the leader in music services where voice is all you need to control it."

According to Bloomberg, Amazon is in the running to acquire Landmark Theaters, a chain focused on independent and foreign films with more than 50 theaters in 27 markets, including high-profile locations in New York, Philadelphia, Chicago, Los Angeles, and San Francisco. From the report: Landmark's theaters are known for art-house fare, and some high-end locations include coffee bars or lounges, setting them apart from the typical movie experience. "This is probably a move to get broader distribution of film content," said Leo Kulp, an analyst with RBC Capital Markets LLC. "Netflix had been discussed as a potential buyer of Landmark for a similar reason." The possible move was viewed positively by investors, who saw it as a sign that Amazon wasn't looking to disrupt moviegoing and was supportive of the theatrical experience, Kulp said.

Artificial intelligence will reshape the world of finance over the next decade or so by automating investing and other services -- but it could also introduce troubling systematic weaknesses and risks, according to a new report from the World Economic Forum (WEF). From a report: Compiled through interviews with dozens of leading financial experts and industry leaders, the report concludes that artificial intelligence will disrupt the industry by allowing early adopters to outmaneuver competitors. It also suggests that the technology will create more convenient products for consumers, such as sophisticated tools for managing personal finances and investments.

But most notably, the report points to the potential for big financial institutions to build machine-learning-based services that live in the cloud and are accessed by other institutions. "The dynamics of machine learning create a strong incentive to network the back office," says the report's main author, Jesse McWaters, who leads the AI in Financial Services Project at the World Economic Forum. "A more networked world is more vulnerable to cybersecurity risks, and it also creates concentration risks." Further reading: AI to Reshape Finance, Say Executives Who Struggle to Define It.

The U.S. Securities and Exchange Commission sent Tesla a subpoena regarding Elon Musk's effort to take the company private, "indicating the regulatory scrutiny of his statements have reached a more serious stage," reports Bloomberg. Last week, Musk tweeted he was considering taking Tesla off the market and had "funding secured" for the deal. From the report: Musk exposed himself to legal risk by tweeting Aug. 7 that he had the funding for a buyout. Almost a week later, the chief executive officer said the basis for his statement was conversations with Saudi Arabia's Public Investment Fund, which first expressed interest in helping take the company private in early 2017. Tesla's board has since clarified that it hasn't received a formal proposal from Musk, who's also chairman, nor has it concluded whether going private would be advisable or feasible. Tesla may face potential regulatory challenges beyond the SEC investigation. The company probably will need approval of U.S. national security officials if Saudi Arabia finances the effort to take the company private, and President Donald Trump's administration has been stepping up scrutiny of foreign investment in American technology.

In a statement Tuesday, Verizon announced deals making Apple and Google its first video providers for a 5G wireless service its planning to launch in four cities later this year. From the report: The home broadband service will debut in Los Angeles, Houston and Sacramento, California, as well as the newly announced fourth city of Indianapolis, Verizon said Tuesday in a statement. With the introduction, Verizon will provide 5G customers either a free Apple TV box or free subscription to Google's YouTube TV app for live television service, according to people familiar with the plan. After shelving its own online TV effort, New York-based Verizon decided to partner with the two technology giants for video content, a first step toward eventually competing nationally against internet and pay TV providers such as AT&T and Comcast Using fifth-generation wireless technology, Verizon plans to beam online services to home receivers, delivering speeds that match or exceed landline connections.

Several readers have shared a report: Bitcoin touched below $6,000 and dozens of smaller digital tokens including Ether retreated as this month's sell-off in cryptocurrencies showed few signs of letting up. The largest digital currency fell as much as 6.2 percent to $5,887, the lowest level since June, before paring some of the drop, according to Bloomberg composite pricing. Ether sank as much as 13 percent, while all but one of the 100 biggest cryptocurrencies tracked by Coinmarketcap.com recorded declines over the past 24 hours. The total market capitalization of virtual currencies dropped to $193 billion. Thatâ(TM)s down from a peak of about $835 billion in January.

An anonymous reader quotes a report from Bloomberg: Oracle is named in a lawsuit alleging the company's executives lied to shareholders when they explained why cloud sales were growing. The investor leading the case, the City of Sunrise Firefighters' Pension Fund, claimed Oracle engaged in coercion and threats to sell its cloud-computing products, creating an unsustainable model that fell apart, according to the suit seeking class-action status and filed Friday in San Jose, California. The Florida-based firefighter pension fund and other investors lost money when Oracle's stock plummeted in March after reporting a disappointing earnings report and outlook, according to the lawsuit.

The suit claimed that Oracle's executives lied in forward-looking statements, which are never guaranteed, during earnings calls and at investor conferences in 2017 when they said customers were rapidly adopting their cloud-based products and cloud sales would accelerate. The firefighter pension, which manages about $143 million for 235 participants, alleged that Oracle used software license audits and weakened existing maintenance programs to compel customers to buy the cloud products.

Saudi Arabia's sovereign wealth fund is in talks that could see it becoming a significant investor in Tesla as part of Elon Musk's plan to take the electric car maker private, Bloomberg reported Sunday, citing a person with direct knowledge of the fund's plans. From the report: The Public Investment Fund, which has built up a stake just shy of 5 percent in Tesla in recent months, is exploring how it can be involved in the potential deal, the person said on condition of anonymity. Discussions began before the controversial Aug. 7 tweet by Musk, who is Tesla's co-founder and chief executive officer, saying he was weighing a plan to take the company private. The PIF sees its investment in Tesla as a strategic way for the world's biggest crude producer to hedge against oil, the person said. The Saudi fund hasn't made any firm decisions on whether to increase its stake, or by how much, but talks are ongoing, the person said. It wasn't immediately clear how much the fund would invest in Tesla.

An anonymous reader quotes the BBC: Elon Musk's bombshell announcement that he is thinking of taking the electric car company Tesla private has landed him a lawsuit from unhappy investors.... His comments caused the share price to shoot up 11% to nearly $380, though it has since fallen back. Short-sellers, who bet on share price falls, allege he misled the market....

Short-sellers, who make a profit by borrowing shares, selling them and then buying them back at an expected lower price, claim to have lost millions thanks to Mr Musk's comments. Plaintiff Kalman Isaacs alleges the announcement was aimed at "completely decimating" short-sellers. His lawsuit, and another filed by William Chamberlain, accuse Mr Musk and Tesla of violating federal securities laws and artificially inflating Tesla's share price. Neither Mr Musk nor Tesla have commented on the lawsuit, which was filed in a federal court in San Francisco.
Tesla "is holding early discussions with banks about the feasibility and structure of a possible deal," Bloomberg reported yesterday -- and Ars Technica points out that if Mr. Isaacs had simply kept his short positions open through Friday, "he would be at least $60,000 richer."

But Isaacs' hopes to be the lead plaintiff for a class-action lawsuit "representing all Tesla shareholders who traded after Musk's tweet on Tuesday or at any time on Wednesday."

An anonymous reader quotes a report from Bloomberg: Qualcomm, the smartphone chipmaker fighting regulatory actions and lawsuits threatening its most profitable business, has reached a settlement with Taiwan's antitrust regulators that reverses most of a $773 million fine. As part of an agreement announced Friday by the Fair Trade Commission, the company will invest $700 million over the next five years and boost research activities in Taiwan, home to a clutch of important suppliers to global names such as Apple. In return, Qualcomm can stop paying fines and retains the right to charge manufacturers royalties on its technology. The commission said Friday it will keep NT$2.73 billion ($89 million) in fines that Qualcomm's already paid but waive the rest.

In an October decision, Taiwan's antitrust agency said Qualcomm had monopoly market status over key mobile phone standards and was violating local laws by not providing products to clients who didn't agree with its conditions. Besides the fine, the Fair Trade Commission told Qualcomm at the time to remove previously signed deals that forced competitors to provide price, customer names, shipment, model name and other sensitive information. Qualcomm appealed the decision. The company agreed to ensure fair negotiations with local licensees, and will support research and commercial projects in Taiwan, including collaborating on the development of fifth-generation wireless, Qualcomm said in a separate statement Friday.

Even with all of its problems, AI is a step up from the notoriously biased recruiting process, a report argues. From the report: Artificial intelligence promises to make hiring an unbiased utopia. There's certainly plenty of room for improvement. Employee referrals, a process that tends to leave underrepresented groups out, still make up a bulk of companies' hires. Recruiters and hiring managers also bring their own biases to the process, studies have found, often choosing people with the "right-sounding" names and educational background. Across the pipeline, companies lack racial and gender diversity, with the ranks of underrepresented people thinning at the highest levels of the corporate ladder. "Identifying high-potential candidates is very subjective," said Alan Todd, CEO of CorpU, a technology platform for leadership development. "People pick who they like based on unconscious biases."

AI advocates argue the technology can eliminate some of these biases. Instead of relying on people's feelings to make hiring decisions, companies such as Entelo and Stella.ai use machine learning to detect the skills needed for certain jobs. The AI then matches candidates who have those skills with open positions. The companies claim not only to find better candidates, but also to pinpoint those who may have previously gone unrecognized in the traditional process.