Slashdot Mirror

Employment has fallen in jobs that can be easily automated and risen in those which are trickier for robots, damping hopes that higher minimum wages could unleash a wave of investment in automation. From a report: Statistics from the Office for National Statistics published on Monday showed that in 2011 about 8.1 per cent of workers were in jobs with a "high" risk of automation, but by 2017 that had fallen to 7.4 per cent. [Editor's note: the link may be paywalled; alternative source and original study.] The ONS report highlighted that fewer workers remain in areas that can be easily automated, such as dry cleaning and laundry jobs, which fell by 28 per cent between 2011 and 2017, and retail cashier work, which fell by 25.3 per cent over the same period.

Since the financial crisis the UK has enjoyed rapid growth in employment combined with one of the lowest rates of investment spending of any large rich country. Many economists have suggested that hiring cheap labour instead of investment in new techniques is behind the country's weak rate of productivity growth. Policymakers had hoped that increasing the minimum wage would spur companies to replace low-paid jobs with machines, in turn boosting growth in productivity. [...] But the ONS analysis suggests the increase in employment over the past decade has not come from jobs that could easily be done by machines. Instead, since 2011 the UK lost jobs with a high or medium risk of automation, like shelf fillers, but gained them in areas with a low risk, such as physiotherapy.

EU governments are allowing more than 100 advertising companies, including Google and Facebook, to surreptitiously track citizens across sensitive public sector websites, in apparent violation of their own EU data protection rules, a study has found. From a report: Danish browser-analysis company Cookiebot found ad trackers -- which log users' locations, devices and browsing behaviours for advertisers -- on the official government websites of 25 EU member states [Editor's note: the link may be paywalled; alternative source]. The French government had the highest number of ad trackers on its site, with 52 different companies tracking users' behaviour. Google, YouTube and DoubleClick, Google's advertising platform, accounted for three of the top five tracking domains on 22 of the main government websites. Researchers also studied the websites for EU public health services, finding that people seeking health advice on sensitive topics such as abortion, HIV and mental illness were met with commercial ad trackers on more than half of the sites analysed.

hackingbear writes: A suit filed by Huawei in Texas, where an American subsidy is located, this week is the latest maneuver in the Chinese telecommunications giant's global offensive against American pressure and persistent criticisms that it poses a national security risk. The company's lawsuit contends that the law which bans Huawei equipment without evidence and trial is a violation of the U.S. Constitution. The U.S. also argues that Huawei poses an unacceptable security risk due to its tie with the Chinese government, though a 2003 due diligence by Motorola in a merger talk found Huawei was independent (Warning: source paywalled) of Chinese government or military (the merger failed after Motorola board thought the $7.5 billion price tag for Huawei was too high.) In the lawsuit announcement, Huawei Chairman Guo Ping also accused U.S. agencies of hacking Huawei servers and stealing emails and source code. In a similar case, China's Sanyi sued the Obama administration and forced CFIUS to determine that the the company's acquisitions "have not raised national security objections."

Hundreds of millions of private chat logs from Chinese users have been left exposed on the internet, a researcher has found, in another worrying case of weak data protection in China. Financial Times reports: Victor Gevers, a security researcher at the cyber-security organisation GDI Foundation, said that he had found a database of 364m records [Editor's note: the link may be paywalled; alternative source.], containing social media profiles and chat logs linked to names and identity card numbers.

The database was freely accessible online to anyone who searched for its IP address, and user profiles were stored together with photographs, addresses and locations, said Mr Gevers. The main database was piping data to 17 other servers depending on which area the data came from, Mr Gevers said. [...] A large number of the records had the names and addresses of web cafes on them. Chinese cyber-security experts have long warned that web cafes collect vast amounts of customer data.

Earlier this week, the FCC proclaimed that broadband connectivity saw unprecedented growth last year thanks to the agency's policies like killing net neutrality. But, as Motherboard points out, that's not entirely true. The lion's share of improvements highlighted by the agency "are courtesy of DOCSIS 3.1 cable upgrades, most of which began before Pai even took office and have nothing to do with FCC policy," the report says. "Others are likely courtesy of build-out conditions affixed to AT&T's merger with DirecTV, again the result of policies enacted before Pai was appointed head of the current FCC." Also, last year's FCC report, which showcased data up to late 2016, "showed equal and in some instances faster growth in rural broadband deployment -- despite Pai having not been appointed yet." From the report: The broadband industry's biggest issue remains a lack of competition. That lack of competition results in Americans paying some of the highest prices for broadband in the developed world, something the agency routinely fails to mention and does so again here. [...] Still, Pai was quick to take a victory lap in the agency release. "For the past two years, closing the digital divide has been the FCC's top priority," Pai said in a press release. "We've been tackling this problem by removing barriers to infrastructure investment, promoting competition, and providing efficient, effective support for rural broadband expansion through our Connect America Fund. This report shows that our approach is working." One of those supposed "barriers to broadband investment" were the former FCC's net neutrality rules designed to keep natural monopolies like Comcast from behaving anti-competitively.

"Overall, capital expenditures by broadband providers increased in 2017, reversing declines that occurred in both 2015 and 2016," the FCC claimed, again hinting that the repeal of net neutrality directly impacted CAPEX and broadband investment. A problem with that claim: the FCC's latest report only includes data up to June 2018, the same month net neutrality was formally repealed. As such the data couldn't possibly support the idea that the elimination of net neutrality was responsible for this otherwise modest growth. Another problem: that claim isn't supported by ISP earnings reports or the public statements of numerous telecom CEOs, who say net neutrality didn't meaningfully impact their investment decisions one way or another. Telecom experts tell Motherboard that's largely because such decisions are driven by a universe of other factors, including the level of competition (or lack thereof) in many markets.

Deep learning may need a new programming language that's more flexible and easier to work with than Python, Facebook AI Research director Yann LeCun said today. From an interview: It's not yet clear if such a language is necessary, but the possibility runs against very entrenched desires from researchers and engineers, he said. LeCun has worked with neural networks since the 1980s. "There are several projects at Google, Facebook, and other places to kind of design such a compiled language that can be efficient for deep learning, but it's not clear at all that the community will follow, because people just want to use Python," LeCun said in a phone call with VentureBeat. "The question now is, is that a valid approach?" Further reading: Facebook joins Amazon and Google in AI chip race.

Mondelez, the US food company that owns the Oreo and Cadbury brands, is suing its insurance company, Zurich, for refusing to pay out on a $100m claim for damage caused by the NotPetya cyber attack. From a report: The case will be the first serious legal dispute over how companies can recover the costs of a cyber attack [Editor's note: the article may be paywalled; alternative source], as insurance groups seek to tightly define their liabilities. "It's a pretty big deal. I've never seen an insurance company take this position," said Robert Stines, a cyber law specialist at the US law firm Freeborn. "It's going to send ripples through the insurance industry. Major companies are going to rethink what's in their policies." The NotPetya attack in the summer of 2017 crippled the computer systems of companies around the world, including Merck, the pharmaceuticals company, Reckitt Benckiser, the consumer group, and Maersk, the world's largest shipping group. It caused billions of dollars of damage and has been blamed by the US and the UK on Russian hackers attacking the Ukrainian government.

[...] According to the Mondelez court documents, Zurich initially worked to adjust the claim in the usual way and at one point even promised to make a $10m interim payment. But it later refused to pay, relying on an exclusion in the policy for "a hostile or warlike action" by a government or sovereign power or people acting for them. Mondelez described Zurich's refusal as "unprecedented" and is seeking $100m in damages. Both companies declined to comment on the case.

Some of the most popular apps for Android smartphones, including Skyscanner, TripAdvisor and MyFitnessPal, are transmitting data to Facebook without the consent of users in a potential breach of EU regulations. From a report: In a study of 34 popular Android apps, the campaign group Privacy International found that at least 20 of them send certain data to Facebook the second that they are opened on a phone, before users can be asked for permission. Information sent instantly included the app's name, the user's unique ID with Google, and the number of times the app was opened and closed since being downloaded. Some, such as travel site Kayak, later sent detailed information about people's flight searches to Facebook, including travel dates, whether the user had children and which flights and destinations they had searched for. European law on data-sharing changed in May with the introduction of General Data Protection Regulation and mobile apps are required to have the explicit consent of users before collecting their personal information.

After securing a win in court earlier this week to ban Apple's older phones, Qualcomm is trying to get the newer iPhones banned too. "According to the Financial Times, Qualcomm has now asked Chinese courts to issue an injunction that bans Apple from selling the iPhone XS, XS Max, and XR within the country due to the same case of possible patent infringement," reports The Verge. From the report: The new filing will escalate the companies' legal conflict in China, where Apple has so far ignored a court-ordered sales ban. Apple claims the ban only applied to phones running iOS 11 and earlier. Since its phones have now been updated to iOS 12, Apple believes they can remain on sale, and so it has continued to sell them. According to the Financial Times, the Chinese court's order doesn't specifically mention any version of Apple's operating system. That doesn't necessarily mean Apple is wrong, but it does mean that there's more to be hashed out.

There are some 8 million abandoned homes -- or akiya -- in Japanese suburbia, according to The Japan Times . And if you've got a visa allowing you to live in Japan, some of them can be yours for free or very low prices, and the government may give you a subsidy to renovate one. From a report: There are even databases devoted to helping people find these homes, known as "akiya banks." What's driving the government to give away homes? In part, it has to do with Japan's aging population: According to the World Bank, the country's population decreased by -0.2% in 2017 alone, while China and the U.S. slowly grew 0.6% and 0.7% respectively. There are simply fewer people in Japan than there once were -- roughly 1.3 million fewer people than in 2010 by one count [paywall].

Silicon Valley employees have a right and duty to protest when we think projects are unethical, writes Laura Nolan, who recently left Google. From her opinion piece for Financial Times: Messrs Bezos and Bloomberg paint Amazon and Google as victims, pushed around by powerful employees who do not care about patriotism. This is absurd. Google and Amazon, and the DoD for that matter, are some of the most dominant institutions the world has known. Mr Bezos recently became the richest man in modern history. Mr Bloomberg is not far behind on the list of the world's wealthiest. Demanding that such power be held to account is common sense.

Rank-and-file tech employees, by contrast, do not have the same leverage. Ordinary Amazon employees -- the median annual salary is less than Mr Bezos earns in 10 seconds -- have been aggressively discouraged from unionising. Microsoft fired a team of contract engineers after they voted to unionise and as yet there is no tech worker union. I believe Silicon Valley leaders have historically put profit ahead of employee livelihood and whatever perks these companies provide come at the discretion of bosses, and are less a reflection of individual merit than of employer convenience.

It is significant, then, that over the past year we've seen a groundswell of worker dissent as thousands of employees at Google, Microsoft, Amazon and elsewhere have pushed back against projects and personnel decisions they consider unethical. I am part of this growing tech workers' movement. We believe we have a duty to resist the oppressive and unethical application of the powerful technology we build, and a right to know how our work is used.

YouTube CEO Susan Wojcicki has again hit out at proposed new European Union copyright rules which she claims is impossible for a platform like YouTube to comply with, and if done so, could harm the creative industries. Wojcicki said the European Parliament's vote in favor of an overhaul to copyright law two months ago is "unrealistic" because owners often disagree on who owns the rights to online material. In a blog post, she wrote: Take the global music hit "Despacito." This video contains multiple copyrights, ranging from sound recording to publishing rights. Although YouTube has agreements with multiple entities to license and pay for the video, some of the rights holders remain unknown. That uncertainty means we might have to block videos like this to avoid liability under article 13. Multiply that risk with the scale of YouTube, where more than 400 hours of video are uploaded every minute, and the potential liabilities could be so large that no company could take on such a financial risk.

The consequences of article 13 go beyond financial losses. EU residents are at risk of being cut off from videos that, in just the last month, they viewed more than 90bn times. Those videos come from around the world, including more than 35m EU channels, and they include language classes and science tutorials as well as music videos. We welcome the chance to work with policymakers and the industry to develop a solution within article 13 that protects rights holders while also allowing the creative economy to thrive. This could include more comprehensive licensing agreements, collaboration with rights holders to identify who owns what, and smart rights management technology, similar to Content ID.

Apple is currently investigating a report that Apple Watch supplier Quanta Computer relied upon illegally employed students to help manufacture the company's exceedingly popular wearable. "Originally brought to light by The Financial Times, the report details how dozens of students were ostensibly working as interns, but in reality were working assembly line shifts, often throughout the night. Some students even reported working six days a week in 12-hour shifts," reports BGR. From the report: The allegations stem from a report put together by SACOM, a workers rights group based out of Hong Kong. In compiling its report, SACOM notes that it interviewed upwards of 28 students. The FT report reads in part: "The alleged abuses echo the labour violations uncovered last year in Apple's iPhone supply chain at its Foxconn Zhengzhou factory, where both Apple and Foxconn acknowledged that student interns had illegally worked overtime. The two companies said at the time that they would end the practice of student interns working extra hours." In a statement on the matter, Apple said that it is "urgently" looking into the aforementioned claims and that they have a "zero tolerance" policy for companies who try to skirt around Apple's workplace guidelines.

Tech companies including PayPal and Stripe have suspended their services from Gab, a social network catering primarily to US conservatives that had been used by the man accused of killing 11 people in a Pittsburgh synagogue. From a report: The moves are likely to reopen the debate about the limits of free speech online and the potential for social networks to radicalise users. Gab was launched two years ago by tech entrepreneur Andrew Torba, who became frustrated with what he perceived as a bias against conservative views on California-based social networks such as Facebook and Twitter. His site soon attracted controversial rightwing figures, including Richard Spencer and Alex Jones, who had been suspended or banned from other social networks. Robert Bowers, who has been charged over the shooting at the Tree of Life synagogue in Pittsburgh on Saturday, was among Gab's hundreds of thousands of users, the company confirmed on Saturday. Mr Bowers, whose profile on Gab featured images of guns and white supremacist iconography, made anti-Semitic posts and threats on the site just hours before the shooting. Since Saturday's shooting, Gab has been accused of not doing enough to prevent free expression from tipping over into hate speech on its site.

Online payments companies PayPal and Stripe, as well as hosting provider Joyent, all said they would stop Gab from using their services, [Editor's note: the link may be paywalled, alternative source] citing violations of their terms of services, which do not allow hate speech. Gab slammed the moves as "direct collusion between big tech giants" against it. This weekend is not the first time that Gab has been sharply criticised for the content it hosts.Last year, after a white supremacist rally in Charlottesville, Virginia, Google removed Gab from Google Play, its mobile app store, claiming it violated its policy on hate speech.

A new study from Oxford University revealed that almost 90 percent of free apps on the Google Play store share data with Alphabet. "The researchers, who analyzed 959,000 apps from the U.S. and UK Google Play stores, said data harvesting and sharing by mobile apps was now 'out of control,'" reports TechSpot. "'We find that most apps contain third party tracking, and the distribution of trackers is long-tailed with several highly dominant trackers accounting for a large portion of the coverage,' reads the report." From the report: It's revealed that most of the apps, 88.4 percent, could share data with companies owned by Google parent Alphabet. Next came a firm that's no stranger to data sharing controversies, Facebook (42.5 percent), followed by Twitter (33.8 percent), Verizon (26.27 percent), Microsoft (22.75 percent), and Amazon (17.91 percent). [I]nformation shared by these third-party apps can include age, gender, location, and information about a user's other installed apps. The data "enables construction of detailed profiles about individuals, which could include inferences about shopping habits, socio-economic class or likely political opinions."

Big firms then use the data for a variety of purposes, such as credit scoring and for targeting political messages, but its main use is often ad targeting. Not surprising, given that revenue from online advertising is now over $59 billion per year. According to the research, the average app transfers data to five tracker companies, which pass the data on to larger firms. The biggest culprits are news apps and those aimed at children, both of which tend to have the most third-party trackers associated with them.

A peer-reviewed study [PDF] of almost one million Android apps has revealed how data from smartphones are harvested and shared, with nearly 90 percent of apps set up to transfer information back to Google. From a report: Researchers at Oxford university analysed approximately a third of the apps available in Google's Play Store in 2017 and found that the median app could transfer data to 10 third parties, with one in five apps able to share data with more than 20. This year has seen unprecedented scrutiny over how websites use the data they collect from their users, but little attention has so far been paid to the sprawling and fast-growing world of smartphone apps. Reuben Binns, the computer scientist who led the project, said that because most apps have now moved to a "freemium" model, where they make revenues from advertising rather than sales, data sharing has spiralled out of control.

Users, regulators and sometimes even the app developers and advertisers are unaware of the extent to which data flow from smartphones to digital advertising groups, data brokers and intermediaries that buy, sell and blend information, he said. "This industry was growing already on the webâ...âwhen smartphones came along, that was a new opportunity," he said. "It feels like this legitimate business model has gone completely out of control and created a kind of chaotic industry that is not understood by the people who are most affected by it."

Richard Sackler, the billionaire businessman behind Purdue Pharma, has patented a new drug to help treat opioid addiction (Warning: source may be paywalled; alternative source). The news of the patented form of buprenorphine, a mild opioid that is used to ease withdrawal symptoms, comes as Colorado's attorney general is suing the OxyContin creator for profiting from opioid addictions. Some now believe that Sackler and his family, who owns Purdue Pharma, will be trying to profit from the antidote. The Washington Post reports: The lawsuit claims Purdue Pharma L.P. and Purdue Pharma Inc. deluded doctors and patients in Colorado about the potential for addiction with prescription opioids and continued to push the drugs. And it comes amid news that the company's former chairman and president, Richard Sackler, has patented a new drug to help wean addicts from opioids. "Purdue's habit-forming medications coupled with their reckless marketing have robbed children of their parents, families of their sons and daughters, and destroyed the lives of our friends, neighbors, and co-workers," Colorado Attorney General Cynthia Coffman said Thursday in a statement. "While no amount of money can bring back loved ones, it can compensate for the enormous costs brought about by Purdue's intentional misconduct."

The lawsuit states that Purdue Pharma "downplayed the risk of addiction associated with opioids," "exaggerated the benefits" and "advised health care professionals that they were violating their Hippocratic Oath and failing their patients unless they treated pain symptoms with opioids," according to the statement from the Colorado attorney general's office. But Purdue Pharma "vigorously" denied the accusations Friday in a statement to The Washington Post, saying that although it shares "the state's concern about the opioid crisis," it did not mislead health-care providers about prescription opioids. "The state claims Purdue acted improperly by communicating with prescribers about scientific and medical information that FDA has expressly considered and continues to approve," a spokesman for Purdue Pharma said in the statement. "We believe it is inappropriate for the state to substitute its judgment for the judgment of the regulatory, scientific and medical experts at FDA." The report makes note of the patent's description, which acknowledges the risk of addiction associated with opioids and states that the drug could be used both in drug replacement therapy and pain management.

Make everyone stand. Work to an agenda. Don't let people go on endlessly. There are plenty of suggestions on how to run meetings so they are not a waste of time. People pay less attention to a bigger waste of time: the multi-participant conference call, argues a story on Financial Times. The story -- shared by an anonymous reader and which may be paywalled -- makes a case against the need for conference calls: You know the drill. An invitation arrives in your inbox with a date and time, a list of participants, numbers for dialling in from different countries and a sign-in code (followed by the pound or hash sign). I have had dozens of these invitations to conference calls, particularly those to discuss forthcoming panels and events. None of the calls has contributed much to the eventual event. I know this because my role is often to chair the eventual event. This is the first difference between a conference call and a face-to-face meeting: it is clear who is chairing the meeting, whereas it is seldom clear who is chairing the call. On conference calls, there is usually someone listed as the organiser, with their own sign-in code (followed by the pound or hash sign), but they are often not the most senior person on the call. The organiser, I can say from experience, is seldom the person who is going to be chairing the planned event. Usually, they are the person who organised the call. That may be a senior person; it may be their personal assistant.

The call organiser may take the leading role in the call. It is hard to tell because -- unless you have met several times before -- it is difficult to know who is speaking at any time. Unlike in a face-to-face meeting, you cannot see people's faces. As participants "arrive" in the conference call, they usually say, "Hi, this is Diane", or are announced by a recorded voice like entrants to a 19th-century ball -- "Simon Oates has joined the call" -- but after that you have to listen keenly for any voice marker (an accent, a shouty tone) that will help you identify who is talking. That is if you can remember who is on the call in the first place. What do you think?

AI is being deployed by those who set and mark exams to reduce fraud -- which remains overall a small problem -- and to create far greater efficiencies in preparation and marking, and to help improve teaching and studying. From a report, which may be paywalled: From traditional paper-based exam and textbook producers such as Pearson, to digital-native companies such as Coursera, online tools and artificial intelligence are being developed to reduce costs and enhance learning. For years, multiple-choice tests have allowed scanners to score results without human intervention. Now technology is coming directly into the exam hall. Coursera has patented a system to take images of students and verify their identity against scanned documents. There are plagiarism detectors that can scan essay answers and search the web -- or the work of other students -- to identify copying. Webcams can monitor exam locations to spot malpractice. Even when students are working, they provide clues that can be used to clamp down on cheats. They leave electronic "fingerprints" such as keyboard pressure, speed and even writing style. Emily Glassberg Sands, Cousera's head of data science, says: "We can validate their keystroke signatures. It's difficult to prepare for someone hell-bent on cheating, but we are trying every way possible."

Redcore, a Chinese start-up that claims to have produced a homegrown browser used by key government bodies and state-run companies, has come under fire after users discovered its software was heavily based on Google's Chrome browser [Editor's note: the link may be paywalled; alternative source]. From a report: The company, which says it has created "innovative and world-leading" browser technology, came under scrutiny on Thursday when users looked through the browser's installation directory and discovered an original "chrome.exe" file along with image files of the Chrome logo. "We have launched the world's only purely China-owned browser Redcore, to break the US monopoly," the company said in a statement on Wednesday. The Financial Times verified Chinese users' findings and found with its own examination that Redcore was using components from the v. 49 version of Google Chrome. "Redcore has Chrome [elements] in it," said company founder Gao Jing in response to fierce public criticism. "But this is not plagiarism; rather, we are standing on the shoulders of a giant for our own innovation," she added, according to local media reports. Ms Gao was also quoted as saying that the company had so far been doing very well in terms of customer satisfaction.

An anonymous reader shares a report: It is almost a decade since Rick Rashid, then head of research at Microsoft, posed that question and ventured his own answer: no more than a few, at least to handle the vast majority of the planet's digital workload. Back then, he thought, it was possible to discern the emergence of a small group of companies that would run those computers. The give-away was that a fifth of all the servers sold in the world were already being purchased by a clutch of US tech groups that included Amazon, Google and Microsoft.

[...] Of course, "how many" is a trick question when it comes to the distributed computing systems being built by today's tech giants. There are many nodes to these octopus-like systems, each with its own silicon brain and information-processing capabilities. But they are connected to a greater whole. One sign of just how far their tentacles are starting to reach came this week with Google's announcement that it has designed an AI chip to run in smartphones and other devices. Google's TPUs -- processors that are optimised to both train deep-learning algorithms and then apply them to make inferences from new data -- are already a key part of its data centre infrastructure. The new low-power version of the TPU can make inferences in "edge" devices, far from the computing core, and will be an important element in making sense of the world's data.

[...] The rise of the global computers raises many questions, but two stand out: will they comprise a truly competitive market, or come to look like the more Balkanised "platform" markets in the consumer world? And what will it mean for so much computing power to be concentrated in a handful of private companies? The good news is that the cloud landscape is shaping up to be a competitive one, at least if competition can be said to truly exist between oligarchs.

The British government broke the law by allowing spy agencies to amass data on UK citizens without proper oversight from the Foreign Office, an independent tribunal has ruled. From a report: GCHQ, the UK's electronic surveillance agency, was given vastly increased powers to obtain and analyze citizens' data after the 9/11 terrorist attacks in 2001, on the condition that it agreed to strict oversight from the foreign secretary. But according to the Investigatory Powers Tribunal, an independent court that was set up by the government to investigate unlawful intrusion by public bodies in the UK, the Foreign Office on several occasions gave GCHQ an effective "carte blanche" to demand data from telecoms and internet companies [Editor's note: the link may be paywalled; alternative source], which could include visited websites, location information and email contacts. In a judgment published on Monday, the tribunal said: "In cases in which ... the foreign secretary made a general direction which applied to all communications through the networks operated by the [communications service provider], there had been an unlawful delegation of the power. "The lack of legal control on the discretion of [GCHQ] is compounded in those cases where the specific requirement was not communicated in writing."

An anonymous reader shares a report: A&R, or "artists and repertoire," are the people who look for new talent, convince that talent to sign to the record label and then nurture it: advising on songs, on producers, on how to go about the job of being a pop star. It's the R&D arm of the music industry. [...] What the music business doesn't like to shout about is how inefficient its R&D process is. The annual global spend on A&R is $2.8bn, according to the International Federation of the Phonographic Industry, and all that buys is the probability of failure: "Some labels estimate the ratio of commercial success to failure as 1 in 4; others consider the chances to be much lower -- less than 1 in 10," observes its 2017 report.

Or as Mixmag magazine's columnist The Secret DJ put it: "Major labels call themselves a business but are insanely unprofitable, utterly uncertain, totally rudderless and completely ignorant." In the golden age of the music industry, none of that really mattered. So much money was flowing in that mistakes could be ignored. There was no way to hear most music other than to buy a record, and when CDs entered the market in the 1980s -- costing little to produce, but selling for a fortune -- the major labels were more or less printing their own money. But then came the internet: first file-sharing, then streaming slashed sales of physical music so deeply that the record business became a safety-first game.

Every label executive has always wanted hits, but these days the people who run the big imprints want guaranteed hits. The rise of digital music brought with it a huge amount of data which, industry executives realized, could be turned to their advantage. In his first public speech as CEO of Sony, in May 2017, Rob Stringer asserted: "All our business units must now leverage data and analytics in innovative ways to dig deeper than ever for new talent. The modern day talent-spotter must have both an artistic ear and analytical eyes." Earlier this year, in the same week as Warner announced its acquisition of Sodatone, a company that has developed a tool for talent-spotting via data, another data company, Instrumental, secured $4.2m of funding. The industry appeared to have reached a tipping point -- what the website Music Ally called "A&R's data moment." Which is why, wherever the music industry's great and good gather, the word "moneyball" has become increasingly prevalent.

An anonymous reader shares a report: A&R, or "artists and repertoire," are the people who look for new talent, convince that talent to sign to the record label and then nurture it: advising on songs, on producers, on how to go about the job of being a pop star. It's the R&D arm of the music industry. [...] What the music business doesn't like to shout about is how inefficient its R&D process is. The annual global spend on A&R is $2.8bn, according to the International Federation of the Phonographic Industry, and all that buys is the probability of failure: "Some labels estimate the ratio of commercial success to failure as 1 in 4; others consider the chances to be much lower -- less than 1 in 10," observes its 2017 report.

Or as Mixmag magazine's columnist The Secret DJ put it: "Major labels call themselves a business but are insanely unprofitable, utterly uncertain, totally rudderless and completely ignorant." In the golden age of the music industry, none of that really mattered. So much money was flowing in that mistakes could be ignored. There was no way to hear most music other than to buy a record, and when CDs entered the market in the 1980s -- costing little to produce, but selling for a fortune -- the major labels were more or less printing their own money. But then came the internet: first file-sharing, then streaming slashed sales of physical music so deeply that the record business became a safety-first game.

Every label executive has always wanted hits, but these days the people who run the big imprints want guaranteed hits. The rise of digital music brought with it a huge amount of data which, industry executives realized, could be turned to their advantage. In his first public speech as CEO of Sony, in May 2017, Rob Stringer asserted: "All our business units must now leverage data and analytics in innovative ways to dig deeper than ever for new talent. The modern day talent-spotter must have both an artistic ear and analytical eyes." Earlier this year, in the same week as Warner announced its acquisition of Sodatone, a company that has developed a tool for talent-spotting via data, another data company, Instrumental, secured $4.2m of funding. The industry appeared to have reached a tipping point -- what the website Music Ally called "A&R's data moment." Which is why, wherever the music industry's great and good gather, the word "moneyball" has become increasingly prevalent.

DeepMind, Google's artificial intelligence subsidiary in London, has developed a self-training vision computer that generates 'a full 3D model of a scene from just a handful of 2D snapshots," according to its chief executive. From a report: The system, called the Generative Query Network, can then imagine and render the scene from any angle [Editor's note: the link maybe paywalled; alternative source], said Demis Hassabis. GQN is a general-purpose system with a vast range of potential applications, from robotic vision to virtual reality simulation. Details were published on Thursday in the journal Science. "Remarkably, [the DeepMind scientists] developed a system that relies only on inputs from its own image sensors -- and that learns autonomously and without human supervision," said Matthias Zwicker, a computer scientist at the University of Maryland who was not involved in the research. This is the latest in a series of high-profile DeepMind projects, which are demonstrating a previously unanticipated ability by AI systems to learn by themselves, once their human programmers have set the basic parameters.

An anonymous reader writes: Hackers have used a disk-wiping malware to sabotage hundreds of computers at a bank in Chile to distract staff while they were attempting to steal money via the bank's SWIFT money transferring system. The attempted hack took place at the end of May when hackers wiped the HDD MBR of over 9,000 computers and over 500 servers. Fortunately the hackers failed to steal money from the bank (an estimated $11 million). This is the same hacker group who failed last month when they tried to steal over $110 million from a Mexico bank. Further reading: Ripple and SWIFT slug it out over cross-border payments.

Yelp has filed a complaint with the EU's antitrust watchdog against Google, arguing that the search company has abused its dominance in local search and pressuring Brussels to launch new charges against the tech giant, Financial Times reported Tuesday. From the report: European antitrust authorities fined Google $2.8B in June 2017 for favouring its own shopping service over rival offerings in its search results. Google denied wrongdoing and has appealed that decision. Now Yelp, which provides user ratings, reviews and other information about local businesses, wants Margrethe Vestager, the EU Competition Commissioner, to take action against Google for similar alleged abuse in the local search market, according to a copy of the complaint seen by the Financial Times. The move comes days after Yelp founder Jeremy Stopplelman appeared on 60 Minutes to talk about Google's search monopoly. Here's the exchange he had with reporter Steve Kroft: Jeremy Stoppelman: If I were starting out today, I would have no shot of building Yelp. That opportunity has been closed off by Google and their approach.
Steve Kroft: In what way?
Jeremy Stoppelman: Because if you provide great content in one of these categories that is lucrative to Google, and seen as potentially threatening, they will snuff you out.
Steve Kroft: What do you mean snuff you out?
Jeremy Stoppelman: They will make you disappear. They will bury you.

An anonymous reader quotes a report from the BBC: The UK's car industry has hit out at the government over unconfirmed reports ministers will target hybrid vehicles as part of a new emissions crackdown. New cars unable to do at least 50 miles on electric power may be banned by 2040, a ruling that would hit the UK's best-selling hybrid, Toyota's Prius. The SMMT car trade body said "misleading" government messages were damaging the industry and hitting jobs. In a short statement, the Department for Transport denied plans for a ban.

The Financial Times and Autocar said that the government's Road to Zero car emissions strategy was due to be unveiled imminently. It follows last year's announcement by the government that it would ban the sale of all new diesel and petrol cars in the UK by 2040. But the position on electrified models was unclear, and Road to Zero is due to clarify the situation. The FT and Autocar reported that vehicles which could not travel at least 50 miles using only electric power would be outlawed. "Unrealistic targets and misleading messaging on bans will only undermine our efforts to realize this future, confusing consumers and wreaking havoc on the new car market and the thousands of jobs it supports," said Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders. "We cannot support ambition levels which do not appreciate how industry, the consumer or the market operate and which are based neither on fact nor substance. Consumers need clear information about the right vehicles for their driving needs and it is again disappointing for both industry and consumers that vitally important information about government policy is being communicated by leaks."

An anonymous reader shares a report: The U.S. Department of Commerce is banning American companies from selling components to leading Chinese telecom equipment maker ZTE Corp for seven years for violating the terms of a sanctions violation case, U.S. officials said on Monday. The Chinese company, which sells smartphones in the United States, pleaded guilty last year in federal court in Texas for conspiring to violate U.S. sanctions by illegally shipping U.S. goods and technology to Iran. It paid $890 million in fines and penalties, with an additional penalty of $300 million that could be imposed. As part of the agreement, Shenzhen-based ZTE Corp promised to dismiss four senior employees and discipline 35 others by either reducing their bonuses or reprimanding them, senior Commerce Department officials told Reuters. Update: The UK's cyber security watchdog has warned the UK telecoms sector not to use network equipment or services from Chinese supplier ZTE as it would have a "long term negative effect on the security of the UK."

Foxconn, the Taiwan-based company best-known for manufacturing Apple products announced that one of its subsidiaries (Foxconn Interconnect Technology) is purchasing U.S.-based Belkin for $866 million in cash. "Belkin owns a number of major brands, including Linksys and Wemo," notes Android Police. From the report: The buyout would make Foxconn a major player in consumer electronics, instead of just a contract manufacturing company. Belkin primarily sells phone/tablet accessories, but also manufactures networking equipment like routers and Wi-Fi range extenders. The company also sells a range of smart home products under the Wemo brand. According to The Financial Times, the purchase is subject to approval from the U.S. Committee on Foreign Investment. In other words, there is a very real chance the acquisition could be blocked. President Trump blocked Broadcom's acquisition of Qualcomm earlier this month, based on advice from the committee.

hackingbear writes from a report: Amazon is reportedly likely to earmark $1 billion for a television series (Warning: source paywalled, alternative source) based on the ultra-popular Chinese science fiction trilogy The Three Body Problem. The American video subscription service will likely acquire the rights to the Yugo-winning, extremely popular trilogy of novels written by Liu Cixin and produce three seasons of episodes. The rights to the trilogy are currently owned by Lin Qi, the chairman of Youzu Interactive, a Chinese developer and publisher that typically focuses on online and mobile games.

Apple said on Monday it will acquire Texture, a digital magazine app, as the iPhone maker looks to fill the gap left by Facebook's pullback from news distribution. From a report: The deal is Apple's latest move to build out its content and services platform, coming just three months after it announced plans to acquire Shazam, the music recognition app, for around $400m. First launched in 2010, Texture has been described as "Netflix for magazines," as its $10-per-month subscription service provides unlimited access to more than 220 publications including People, the New Yorker, Vanity Fair, National Geographic and Vogue. Further reading: Recode.

I once sneered at lifetime reading plans. Two decades later, I'm more aware that reading time, like all time, is precious, writes journalist Nilanjana Roy. From her column on the Financial Times (might be paywalled), shared by a reader: As the new year approaches, I sort my bookshelves and reboot my lifetime reading plan. Like a good road map, the plan makes the difference between dreaming of visiting 50 places before you die, and actually getting to 10 or 11 of those in the year ahead. In my twenties, arrogant with the faith of a speed-reader who had plunged recklessly into reading the classics of Bengali and Hindi literature alongside English, I sneered at lifetime reading plans. So earnest. So stuffy. Who wanted a map when you could freewheel down the highway, veering from JM Coetzee to Ursula K Le Guin, reading Stephen King alongside Beowulf or The Mahabharata, reading Tamil pulp fiction in translation one week, Japanese crime thrillers the next? Two decades later, I'm more aware that the years pass swiftly, that reading time, like all time, is precious. In a thoughtfully planned survey for Literary Hub, writer Emily Temple plotted the number of books an average reader in the US might finish in a lifetime. She analysed trends for women and men across different age groups, and broke down the results into three categories: the average reader (about 12 books a year), the voracious reader (50 books a year) and the super reader (80 books a year). At the age of 25, even a super reader with a long life expectancy will finish a mere 4,560-4,880 books before they die.

David Crow, reporting for the Financial Times: A US drugmaker is charging almost $300 for a bottle of prescription vitamins that can be bought online for less than $5, in the latest attempt at price gouging in the world's largest healthcare market. Avondale Pharmaceuticals raised the price of Niacor, a prescription-only version of niacin, by 809 per cent last month, taking a bottle of 100 tablets from $32.46 to $295 (Editor's note: the link may be paywalled; alternative source), according to figures seen by the Financial Times. Although niacin, a type of vitamin B3, is available in over-the-counter forms for less than $5 per 100 tablets, some doctors still prefer to use the version approved by the US Food and Drug Administration to treat high cholesterol. Avondale, a secretive Alabama-based company, put the price of Niacor up shortly after acquiring the rights to the medicine in a so-called "buy-and-raise" deal -- a strategy made famous by Martin Shkreli, the disgraced biotech entrepreneur.

The Chinese government is blocking foreign companies from mapping its roads in great detail, according to a Financial Times (paywalled) report. The restrictions, which reportedly do not apply to Chinese firms, are being instituted in the name of national security. China is concerned about spying. From a report: China has restricted the recording of geographic information for more than a decade because it believes giving other countries access to that information constitutes a security risk. Geographic surveys can't be performed without permission from the government, and many digital cameras don't record GPS coordinates for geotagging, as they do in other countries, according to Fortune.

The Russia-linked troll farm that used Facebook to target Americans during last year's election was also active in the UK ahead of the Brexit vote (Editor's note: the link may be paywalled; alternative source), the social media company has admitted. From a report: In a letter to the Electoral Commission, Facebook said accounts associated with the Internet Research Agency spent $0.97 for three ads in the days before the EU referendum. These ads appeared on approximately 200 news feeds in the UK before the country voted to leave the EU last year. For months the social media company has sidestepped questions from MPs and journalists about Russian interference through its platform in the UK. The concerns were fuelled by revelations this summer that Facebook had been weaponised by Russian entities before the election of US President Donald Trump. France and Germany have said their elections were also targeted. "We strongly support the Commission's efforts to regulate and enforce political campaign finance rules in the United Kingdom, and we take the Commission's request very seriously," Facebook said in the letter.

Tim Bradshaw, reporting for Financial Times: Chipmaker Broadcom officially unveiled a $130bn offer, including net debt, for Qualcomm on Monday, in what could be the largest tech deal in history. Under Broadcom's proposal, Qualcomm shareholders would receive $70 per share -- $60 in cash and $10 in shares of its rival. It would value Qualcomm's equity at roughly $103bn. Qualcomm is set to reject Broadcom's takeover offer (Editor's note: the link could be paywalled; an alternative source wasn't immediately available), as the US chipmaker views its rival's $130bn proposal as too low and fraught with regulatory risks, people familiar with the matter said. The offer represents a 28 per cent premium over Qualcomm's share price on November 2, after it first emerged that Broadcom was preparing an offer. Broadcom also said that its offer stands whether or not Qualcomm completes its $38bn acquisition of NXP, which has yet to close.

Mark Gurman, writing for Bloomberg: Despite the strength of its brand, Apple occasionally releases a product to mediocre reviews -- remember the original Apple TV or Apple Watch? But reviewers have rarely been as grumpy as this month, when Apple unveiled its collection of new gadgets for the holidays. "I can't think of a single compelling reason to upgrade [to iPhone 8, or iPhone 8 Plus] from an iPhone 7 [which was launched last year]," wrote Nilay Patel of The Verge. Another potential sign of trouble: the iPhone 8 models didn't sell out during pre-orders, another rare occurrence for Apple phones. [...] Reviewing the new Apple Watch Series 3 model, The Wall Street Journal's Joanna Stern wrote "On the AT&T-connected models, the cellular connection dropped, calls were often choppy and Siri sometimes failed to connect. On the one that ran on T-Mobile, I experienced several dropped connections." The Verge's Lauren Goode noticed a serious connection issue as well, saying the device "would appear to pick up a single bar of some random Wi-Fi signal, and hang on that, rather than switching to LTE." [...] Reviewing the Apple TV 4K, The Verge's Patel noted the device's high price, a lack of 4K support in major apps including YouTube, and a lack of support for the Dolby Atmos audio standard. Reuters reported on Friday: Hundreds of people usually gather at Apple's Sydney city store with queues winding down the town's main street, George Street, when there is a new product release. But there were fewer than 30 people lining up before the store opened on Friday, according to a Reuters witness. While the number of people queuing up outside Apple stores have dropped over the years with many opting for online purchases, the weak turnout for the latest iPhone has partly been due to poor reviews. Over at Financial Times, Tim Bradshaw reports: "I think demand is down from last year, for no other reason than you have another flagship phone," said Neil Cybart, an Apple analyst at Above Avalon. "A portion of the iPhone launch demand is not materialising quite yet." That could leave this weekend's initial sales lower than at any point since the iPhone 6 first launched in 2014, Mr Cybart added. Apple's decision to increase prices for the iPhone 8 compared with last year's model and a less aggressive launch push by mobile carriers could also affect demand.

According to the Financial Times (Warning: source paywalled), Amazon is working on building a pair of smart glasses to house its Alexa voice assistant. The report also mentions a home security camera that is in the works, capable of linking up to Amazon's existing Echo connected devices. TechCrunch reports: According to the FT, the smart glasses are intended to be purely an earbuds-free housing for Amazon's Alexa AI -- with a bone-conduction audio system that would enable the wearer to hear Alexa without the need to be wired in. The FT reports the glasses would wirelessly tether to a user's smartphone for connectivity. They are also apparently being designed to look like a regular pair of spectacles, so they could be worn comfortably and unobtrusively. The paper notes that Amazon hired Babak Parviz, founder of Google Glass, in 2014, and says he's been closely involved in the project. It also points to several other Glass researchers, engineers and designers having moved to Amazon's labs -- per analysis of their LinkedIn profiles.

Bitcoin dropped below $3,000 on Friday as the cryptocurrency extended a brutal eight-day sell-off that has reduced its value against the dollar by a third. Financial Times reports: The currency traded as low as $2,972, marking a 36 per cent fall from bitcoin's close on September 7, and a collapse of 40 per cent from the highs struck earlier this month. The latest bout of selling came after BTCChina, one of the country's biggest bitcoin exchanges, said it would halt trading at the end of the month. Focus has now shifted to the communist country's other two big exchanges: OKCoin and Huobi. Alternative source.

Google will now invite U.S. users to "check if you're clinically depressed" by using a clinically-validated screening questionnaire. "The move announced on Wednesday comes out of work with the National Alliance on Mental Illness (NAMI) and represents the first time that the search giant has promoted a mental health self-assessment tool in search results," reports Financial Times. From the report: The intervention by the world's most popular search engine comes as people increasingly seek medical advice online: Google says one in 20 searches are health-related, although it will not disclose what proportion are about depression. It is also the latest public move by a technology business to take greater responsibility for content that users see on its platform, after criticism that companies such as Facebook and Google failed to help people distinguish verified from false information. A box of verified information about symptoms and treatments for clinical depression already tops U.S. Google search results for "depression" or queries such as "do I have depression." Google does this for other common conditions, including flu and tonsillitis, and symptoms such as headaches, using information provided by the Mayo Clinic, a non-profit medical organization. But for depression it has added a link inviting users to "check if you're clinically depressed." This takes searchers to a questionnaire widely used by doctors to measure levels of depressive symptoms. People who complete the test get a score indicating the severity of their symptoms, which can aid a physician's diagnosis.

The Wall Street Journal plans to discontinue production of print edition outside the United States in what is the latest testament that popularity of print is waning and it is no longer as lucrative for news outlets to maintain print editions of their journalism. From a Financial Times report: The print edition of the business and finance newspaper, which is owned by Rupert Murdoch's News Corp, will no longer be available in Europe (paywalled; alternative source), according to two people briefed on the plans. Free copies and unprofitable hotel "amenity deals," where hotels buy bulk copies at a discount, are also being scrapped. However, Dow Jones, the News Corp division that owns the Journal, is debating whether to continue mailing copies to subscribers who still want a physical paper. It is pursuing a similar approach in Asia but is in talks with a partner about a print joint venture that would continue distribution in one big market there, according to the people with knowledge of the discussions. In Australia some Wall Street Journal pages are available as an insert in The Australian, another Murdoch-owned paper.

An anonymous reader shares a Financial Times article: After more than five years at a leading City law firm, Daniel van Binsbergen quit his job as a solicitor to found Lexoo, a digital start-up for legal services in the fledgling "lawtech" sector. Mr Van Binsbergen says he is one of many. "The number of lawyers who have been leaving to go to start-ups has skyrocketed compared to 15 years ago," he estimates. Many are abandoning traditional firms to pursue entrepreneurial opportunities or join in-house teams, as the once-unthinkable idea of routine corporate legal work as an automated task becomes reality (Editor's note: the link could be paywalled; alternative source). Law firms, which tend to be owned by partners, have been slow to adopt technology. Their traditional and profitable model involves many low-paid legal staff doing most of the routine work, while a handful of equity partners earn about 1m pound ($1.30m) a year. But since the 2008 financial crisis, their business model has come under pressure as companies cut spending on legal services, and technology replicated the repetitive tasks that lower-level lawyers at the start of their careers had worked on in the past. [...] "We get AI to do a bunch of things cheaply, efficiently and accurately -- which is most important," says Wendy Miller, partner and co-head of real estate disputes at BLP. "It leaves lawyers to do the interesting stuff."

An anonymous reader quotes a report from Billboard: As Facebook continues to grapple with its role in proliferating "fake news" amidst the heated U.S. election this year, it has another showdown looming on the horizon -- this one with the music industry. In the wake of NMPA president/CEO David Israelite's op-ed in Billboard in October, in which he called out the social media giant for hosting videos with copyrighted music without securing licensing deals or paying creators, Facebook is working to develop a copyright identification system -- similar to YouTube's Content ID -- that would find and remove videos containing copyrighted music, a source tells Billboard. The story was first reported by the Financial Times. One music industry source, confirming Facebook's plans to develop a copyright ID system, says the company has a massive infringement problem in regards to music on the site. "They see the huge amount of traffic music content is responsible for on their platform and don't want to be on the wrong end of an artist fight," the person says. "They also see that there's a potential opportunity to position themselves as friendly to content creators as opposed to YouTube, so they are working fast to get this right." Talks between Facebook and the major labels are underway to license content moving forward, Billboard has learned, though they are still in the preliminary stages. In its report, the Financial Times referenced a source saying a deal would not be done before the spring.

An anonymous reader quotes a report from Billboard: As Facebook continues to grapple with its role in proliferating "fake news" amidst the heated U.S. election this year, it has another showdown looming on the horizon -- this one with the music industry. In the wake of NMPA president/CEO David Israelite's op-ed in Billboard in October, in which he called out the social media giant for hosting videos with copyrighted music without securing licensing deals or paying creators, Facebook is working to develop a copyright identification system -- similar to YouTube's Content ID -- that would find and remove videos containing copyrighted music, a source tells Billboard. The story was first reported by the Financial Times. One music industry source, confirming Facebook's plans to develop a copyright ID system, says the company has a massive infringement problem in regards to music on the site. "They see the huge amount of traffic music content is responsible for on their platform and don't want to be on the wrong end of an artist fight," the person says. "They also see that there's a potential opportunity to position themselves as friendly to content creators as opposed to YouTube, so they are working fast to get this right." Talks between Facebook and the major labels are underway to license content moving forward, Billboard has learned, though they are still in the preliminary stages. In its report, the Financial Times referenced a source saying a deal would not be done before the spring.

According to a report from The Information (Warning: paywalled), Uber has lost more than $800 million in the third quarter. CNBC reports: The results, The Information reported, put Uber on pace to record an 25 percent steeper operating loss than last year, of at least $2.8 billion in 2016, before interest, tax, depreciation and amortization. Despite steep results from one of the world's most valuable start-ups, these results would have been worse if not for a one-time windfall thanks to the sale of Uber's China business to Didi Chuxing, The Information reported. On the bright side, Uber's revenue is skyrocketing, and its rate of losses slowed from the prior quarter, The Information said. Still, the report comes as Uber's multi-billion dollar valuation has come under scrutiny from those who say its business model depends on subsidies and faces looming battles over regulation.

For the first time, Apple has said that it is indeed working on technology to develop self-driving cars. The company confirmed late last week its previously secret initiative in a statement to the U.S. highway regulator. From a report on The Guardian: "The company is investing heavily in the study of machine learning and automation, and is excited about the potential of automated systems in many areas, including transportation," said the letter from Steve Kenner, Apple's director of product integrity, to the head of the National Highway Traffic Safety Administration (NHTSA). The letter offered no details of the project, instead highlighting the "significant societal benefits of automated vehicles," which it described as a life-saving technology, potentially preventing millions of car crashes and thousands of fatalities each year.In a statement to Financial Times (might be paywalled), a spokesperson for Apple said, "We've provided comments to NHTSA because Apple is investing heavily in machine learning and autonomous systems. There are many potential applications for these technologies, including the future of transportation, so we want to work with NHTSA to help define the best practices for the industry."

An anonymous reader quotes Gizmodo: On Sunday, the European Commission warned Facebook, Twitter, Google, YouTube and Microsoft that if the companies do not address their hate speech problems, the EU will enact legislation that will force them to do so. In May, those five companies voluntarily signed a code of conduct to fight illegal hate speech on their platforms within 24 hours... But on Sunday, the European Commission revealed that the companies were not complying with this code in a satisfactory manner.

"In practice the companies take longer and do not yet achieve this goal. They only reviewed 40 percent of the recorded cases in less than 24 hours," a Commission official told Reuters. The Commission's report found that YouTube responded to reports of harassment the fastest, and unsurprisingly, Twitter found itself in last place. "If Facebook, YouTube, Twitter and Microsoft want to convince me and the ministers that the non-legislative approach can work, they will have to act quickly and make a strong effort in the coming months," Jourova told the Financial Times on Sunday.

The world's largest source of power capacity is now renewables, as roughly half a million solar panels were installed every single day last year. In addition, two wind turbines were erected every hour in countries such as China, according to the International Energy Agency. Financial Times reports (Editor's note: may be paywalled; alternate source): Although coal and other fossil fuels remain the largest source of electricity generation, many conventional power utilities and energy groups have been confounded by the speed at which renewables have grown and the rapid drop in costs for the technologies. Average global generation costs for new onshore wind farms fell by an estimated 30 percent between 2010 and 2015 while those for big solar panel plants fell by an even steeper two-thirds, an IEA report published on Tuesday showed. The Paris-based agency thinks costs are likely to fall even further over the next five years, by 15 percent on average for wind and by a quarter for solar power. It said an unprecedented 153 gigawatts of green electricity was installed last year, mostly wind and solar projects, which has more than the total power capacity in Canada. It was also more than the amount of conventional fossil fuel or nuclear power added in 2015, leading renewables to surpass coal's cumulative share of global power capacity -- though not electricity generation. A power plant's capacity is the maximum amount of electricity it can potentially produce. The amount of energy a plant actually generates varies according to how long it produces power over a period of time. Coal power plants supplied close to 39 percent of the world's power in 2015, while renewables, including old hydropower dams, accounted for 23 percent, IEA data show. But the agency expects renewables' share of power generation to rise to 28 percent by 2021, when it predicts they will supply the equivalent of all the electricity generated today in the U.S. and E.U. combined.

Apple has approached British Formula One team owner McLaren for a strategic investment or a potential buyout (Editor's note: the link could be paywalled; alternate source), the Financial Times reported, citing sources. The loss-making automotive group could be valued at around $1.4 billion. A deal with McLaren, which also makes high-performance sports cars, could give Apple key automotive technology amid reports that the company is working on a self-driving car. From the report:The California technology group, which has been working on a self-driving electric vehicle for more than two years, is considering a full takeover of McLaren or a strategic investment, according to three people briefed on the negotiations who said talks started several months ago. Update: 09/21 17:31 GMT by M :The New York Times, citing two people familiar with the matter, is now reporting the same. The publication additional says that Apple has also held talks with Lit Motors, a San Francisco start-up that has developed an electric self-balancing motorcycle, about a potential acquisition.