Domain: reuters.com
Stories and comments across the archive that link to reuters.com.
Stories · 2,473
-
EU Moves To Bring In AI Laws, But Rejects Robot Tax Proposal (newatlas.com)
An anonymous reader quotes a report from New Atlas: The European Parliament has voted on a resolution to regulate the development of artificial intelligence and robotics across the European Union. Based on a raft of recommendations drafted in a report submitted in January to the legal affairs committee, the proposed rules include establishing ethical standards for the development of artificial intelligence, and introducing an insurance scheme to cover liability for accidents involving driverless cars. Not every element in the broad-ranging report was accepted by the Parliament though, with a recommendation to institute a "robot tax" roundly rejected. The robot tax proposal was designed to create a fund that manages the repercussions and retraining of workers made redundant through the increased deployment of industrial and service robots. But those in the robotics industry were supportive of the Parliamentary rejection, with the International Federation of Robotics suggesting to Reuters a robot tax would have been harmful to the burgeoning industry, stifling innovation and competitiveness. The European Parliament passed the resolution comfortably with 396 votes to 123, with 85 abstentions. -
Accenture To Create 15,000 Jobs In US (reuters.com)
Accenture said on Friday it would create 15,000 "highly skilled" new jobs in the United States, as IT services firms brace for a more protectionist U.S. technology visa program under President Donald Trump. From a report on Reuters: The company, which is domiciled in Dublin, Ireland, said the new jobs would increase the company's U.S. workforce by 30 percent to more than 65,000 by the end of 2020. Accenture has more than 394,000 employees, of which about 140,000 are in India. IT services companies have come under the spotlight after Trump said that his administration would focus on creating more jobs for U.S. workers, who had been affected by the outsourcing of jobs abroad. Major IT service companies, particularly those based in India, fly engineers to the United States using H-1B visas to service clients, but some opponents argue they are misusing the visa program to replace U.S. jobs. -
Samsung Chief Lee Arrested In Corruption Investigation (reuters.com)
According to Reuters, Samsung chief Jay Y. Lee was arrested on Friday over his alleged role in a corruption scandal that led parliament to impeach South Korean President Park Geun-hye. From the report: The 48-year-old Lee, vice chairman of Samsung Electronics Co Ltd (005930.KS), was taken into custody at the Seoul Detention Centre, where he had awaited the court's decision following a day-long, closed-door hearing that ended on Thursday evening. The judge's decision was announced at about 5:30 a.m. (2030 GMT) on Friday, more than 10 hours after Lee, the sprawling conglomerate's third-generation leader, had left the court. The same court rejected a request from prosecutors last month to arrest Lee. On Tuesday, the special prosecutor's office had requested a warrant to arrest him and another executive, Samsung Electronics president Park Sang-jin, on bribery and other charges. The prosecution said it had secured additional evidence and brought more charges against Lee in the latest warrant request. While Lee's detention is not expected to hamper day-to-day operation of Samsung Group companies, which are run by professional managers, experts have said it could affect strategic decision-making by South Korea's biggest conglomerate. Prosecutors have focused their investigations on Samsung's relationship with Park, 65, who was impeached by parliament in December and has been stripped of her powers while the Constitutional Court decides whether to uphold her impeachment. They accused Samsung of paying bribes totaling 43 billion won ($37.74 million) to organizations linked to Choi to secure the government's backing for a merger of two Samsung units. That funding includes Samsung's sponsorship of the equestrian career of Choi's daughter, who is in detention in Denmark, having been on a South Korean wanted list. -
EU Privacy Watchdogs Seek Assurances on US Data Transfer Pact (reuters.com)
European Union data privacy watchdogs will seek assurances from U.S. authorities that a move by U.S. President Donald Trump to crack down on illegal immigration will not undermine a transatlantic pact protecting the privacy of Europeans' data. From a report: European concerns have been raised by an executive order signed by Trump on Jan. 25 aiming to toughen enforcement of U.S. immigration law. The order directs U.S. agencies to "exclude persons who are not United States citizens or lawful permanent residents from the protections of the Privacy Act regarding personally identifiable information." The exemption of foreigners from the U.S. law governing how federal agencies collect and use information about people has stoked worries across the Atlantic about the new administration's approach to privacy and its impact on cross-border data flows. -
Brazil Judge Rules Uber Drivers Are Employees, Deserve Benefits (reuters.com)
An anonymous reader shares a Reuters report: A Brazilian judge ruled that a driver using the Uber ride-hailing app is an employee of the San Francisco-based company and is entitled to workers' benefits, adding to the global debate over labor rights for drivers on the platform. Uber said on Tuesday it would appeal the decision by Judge Marcio Toledo Goncalves, who issued the ruling late Monday in a labor court in Minas Gerais state. Goncalves ordered Uber to pay one driver around 30,000 reais ($10,000) in compensation for overtime, night shifts, holidays and expenses such as gasoline, water and candy for passengers. The consequences for Uber, if the ruling is upheld, could be far greater if more drivers follow suit and if state and federal regulators and tax agencies start treating it, as the judge suggested, as a transportation company rather than a tech firm. -
Delays, Confusion as Toshiba Reports $6 Billion Nuclear Hit and Slides To Loss (reuters.com)
Makiko Yamazaki, reporting for Reuters: After a day of delays and confusion, Japan's Toshiba said on Tuesday it expected to book a $6.3 billion hit to its U.S. nuclear unit, a writedown that wipes out its shareholder equity and will drag the group to a full-year loss. Hours earlier on Tuesday, the battered conglomerate rattled investors by failing to release its earnings on schedule, saying initially it was 'not ready' and then announcing later it needed more time to probe its Westinghouse nuclear business after internal reports uncovered potential problems. The figures eventually released were numbers that have yet to be approved by its auditor and Toshiba cautioned investors that a major revision was possible. Fully audited numbers are now not due till March 14 after the firm was granted a reprieve for its formal filing by Japanese regulators. "Finally now people are starting to recognize that internal control problems, the accounting issues and governance issues are very real and no longer abstract," said Zuhair Khan, an analyst at Jefferies in Tokyo. "They impact the viability of the company." -
Chrome's Sandbox Feature Infringes On Three Patents So Google Must Now Pay $20 Million (bleepingcomputer.com)
An anonymous reader writes: After five years of litigation at various levels of the U.S. legal system, today, following the conclusion of a jury trial, Google was ordered to pay $20 million to two developers after a jury ruled that Google had infringed on three patents when it designed Chrome's sandboxing feature. Litigation had been going on since 2012, with Google winning the original verdict, but then losing the appeal. After the Supreme Court refused to listen to Google's petition, they sent the case back for a retrial in the U.S. District Court in Eastern Texas, the home of all patent trolls. As expected, Google lost the case and must now pay $20 million in damages, in the form of rolling royalties, which means the company stands to pay more money as Chrome becomes more popular in the future. -
NSA Contractor Indicted Over Mammoth Theft of Classified Data (reuters.com)
Dustin Volz, reporting for Reuters: A former National Security Agency contractor was indicted on Wednesday by a federal grand jury on charges he willfully retained national defense information, in what U.S. officials have said may have been the largest heist of classified government information in history. The indictment alleges that Harold Thomas Martin, 52, spent up to 20 years stealing highly sensitive government material from the U.S. intelligence community related to national defense, collecting a trove of secrets he hoarded at his home in Glen Burnie, Maryland. The government has not said what, if anything, Martin did with the stolen data. Martin faces 20 criminal counts, each punishable by up to 10 years in prison, the Justice Department said. "For as long as two decades, Harold Martin flagrantly abused the trust placed in him by the government," said U.S. Attorney Rod Rosenstein. -
Tesla To Start Pilot Production of Model 3 This Month (reuters.com)
According to Reuters, Tesla is planning to "begin test-building its Model 3 sedans on February 20, a move that could allay concerns about the company meeting its target to start production in July." The sources familiar with the matter did not mention how many of the Model 3 vehicles Tesla aims to build in February, though the number is likely to be small to test the assembly system and the quality of vehicle parts. From the report: Tesla Chief Executive Elon Musk last year told investors and more than 370,000 customers who put deposits down for a Model 3 that he intended to start building the cars in July 2017. At the time, many analysts and suppliers said the timeline was too ambitious and would be difficult to achieve, pointing to Tesla's history of missing aggressive production targets. If Tesla succeeds in starting pilot production of the sedan at its factory in Fremont, California on Feb. 20, the company would be able to share the news with shareholders two days later when it reports fourth-quarter results and better answer any questions about the Model 3 rollout. Musk had told investors last year that the company could miss the July 2017 startup target if suppliers do not meet deadlines. -
French Politician Uses Hologram To Hold Meetings In Two Cities At the Same Time (reuters.com)
neutrino38 writes: The French presidential election is approaching fast. One of the candidates, Jean-Luc Melenchon, used a hologram to hold two public meetings at once. With a political program that is mostly socialist and very left leaning, some people pointed out that he used private innovation to stand out from the crowd. Reuters notes that this is "not the first politician to employ such technology," adding that "in 2014, then-Turkish prime minister Tayyip Erdogan used a huge hologram of himself to attract wider support, while India's Narendra Modi trounced the opposition with a campaign that included holograms of his speeches in villages across the country." You can watch part of one of Melenchon's virtual meetings here. -
DC Inauguration Protestors Are Being Hit With Facebook Data Searches (citylab.com)
During the protests over the inauguration of Donald Trump, more than 230 protestors were arrested -- many of which were charged with rioting and had their phones seized by Washington, D.C., police. One of the individuals who was arrested received an email from Facebook's "Law Enforcement Response Team," which raises the question: Did D.C. police ask Facebook to reveal information about this arrestee? CityLab reports: In an emailed response to CityLab's request for more information, Rachel Reid, a spokesperson for the D.C. Metropolitan Police Department, responded that "MPD does not comment on investigative tactics." The District of Columbia United States Attorney's Office -- the agency leading the prosecution of Inauguration protesters -- has not yet responded to CityLab's inquiry. CityLab also asked Facebook about the email. "We don't comment on individual requests," company spokesperson Jay Nancarrow said. He referred CityLab to the site's law enforcement guidelines page and to its Government Requests Report database, where the public can see how many legal processes it receives from countries worldwide. According to this database, U.S. law enforcement requested information on the accounts of 38,951 users over January to June of 2016, and they received some type of data in 80 percent of cases. Which "legal process" authorities sent to Facebook for information on the protester matters considerably in terms of how much data they can seize for investigation. According to Facebook's legal guidelines, a search warrant, for example, could allow Facebook to give away content data including "messages, photos, videos, timeline posts, and location information." A subpoena or a court order would give authorities less information, but would still include the individual's "name, length of service, credit card information, email address(es), and a recent login/logout IP address(es)." -
US House Passes Bill Requiring Warrants To Search Old Emails (reuters.com)
An anonymous reader quotes a report from Reuters: The U.S. House of Representatives voted on Monday to require law enforcement authorities to obtain a search warrant before seeking old emails from technology companies, a win for privacy advocates fearful the Trump administration may work to expand government surveillance powers. The House passed the measure by a voice vote. But the legislation was expected to encounter resistance in the Senate, where it failed to advance last year amid opposition by a handful of Republican lawmakers after the House passed it unanimously. Currently, agencies such as the Justice Department and the Securities and Exchange Commission only need a subpoena to seek such data from a service provider. -
China Is Now the World's Largest Solar Power Producer (digitaltrends.com)
An anonymous reader quotes a report from Digital Trends: Not only is it the world's most populous country, it's now also the world's biggest producer of solar energy. On Saturday, the National Energy Administration (NEA) noted that the nation officially claimed the title after doubling its installed photovoltaic (PV) capacity last year. By the end of 2016, China's capacity hit 77.42 gigawatts, and while this is great in terms of raw numbers, it's a lot less impressive relative to the country's massive population. As it stands, solar energy represents only one percent of the country's energy output. But this may soon change as China devotes more and more of its attention towards clean energy. The NEA says that China will seek to add more than 110 gigawatts within the next three years, which could help the nation up the proportion of its renewable energy use to 20 percent by 2030. Today, it stands at 11 percent. -
China To Add More than 50 Million New Urban Jobs in 2016-2020 (reuters.com)
China is striving to create more than 50 million new jobs in urban areas over the five years to 2020, the cabinet said in an employment promotion plan on Monday. From a report on Reuters: It will also aim to hold the urban registered unemployment rate below 5 percent in the same period, according to the document published on the central government's website. "Opportunities and challenges in promoting employment coexist," the cabinet said. The government has said 13 million new urban jobs were created in 2016, beating its target of 10 million. The official unemployment rate has been hovering just over 4 percent in recent years, even as China's economic growth slowed to 6.7 percent in 2016, its slowest in 26 years. -
New York Sues Charter Over Slow Internet Speeds (reuters.com)
An anonymous reader quotes a report from Reuters: New York filed a lawsuit on Wednesday accusing Charter Communications Inc of short-changing customers who were promised faster internet speeds than it could deliver. The lawsuit in State Supreme Court in Manhattan accused Charter's Spectrum unit, until recently known as Time Warner Cable, of systematically defrauding customers since 2012 by promising and charging for services it knew it could not offer. At least 640,000 subscribers signed up for high-speed plans but got slower speeds, and many subscribers were unable to access promised online content such as Facebook, Netflix, YouTube and various gaming platforms, the complaint said. The lawsuit seeks "full restitution" for customers, as well as hefty civil fines. Among the allegations in the complaint was an accusation that Time Warner Cable leased older-generation modems to 900,000 subscribers knowing that the modems could not achieve faster internet speeds. -
Tesla Drops 'Motors' From Name As CEO Musk Looks Beyond Cars (reuters.com)
Tesla Motors changed its name to "Tesla Inc" as Chief Executive Elon Musk looks to transform the Silicon Valley firm from an electric car maker to a diversified energy products company. From a report on Reuters: In October, Musk unveiled solar-powered roof tiles that eliminate the need for traditional panels and a longer-lasting home battery illustrating the benefits of combining his electric car and battery maker with solar installer SolarCity Corp. -
Indian IT Sector Warns Against US Visa Bill (reuters.com)
India's IT lobby warned on Tuesday that a bill before the U.S. Congress aimed at imposing tougher visa rules unfairly targets some of its members and will not solve a U.S. labor shortage in technology and engineering. From a report on Reuters: Industry lobby group Nasscom was responding to a bill introduced by Congresswoman Zoe Lofgren, a Democrat from California, that would double the minimum salary required for holders of H-1B visas to $130,000 and determine how many of the visas were allocated, based on factors such as overall wages. India's $150 billion information technology sector, led by Tata Consultancy Services, Infosys and Wipro, uses the H-1B visas to fly engineers and developers to service clients in the U.S., their biggest market, but opponents say they are using the visas to replace U.S. workers. Concerns about President Donald Trump's immigration policies were heightened by his ban on refugees on Friday. "The Lofgren Bill contains provisions that may prove challenging for the Indian IT sector and will also leave loopholes that will nullify the objective of saving American jobs," Nasscom said. -
Sony Warns It Will Take $1 Billion Writedown, Blames Slowing DVD Sales (reuters.com)
Sony has warned investors that it will take roughly $978m writedown on its film business, blaming a goodwill impairment charge that dates back to an acquisition of a Hollywood studio almost three decades ago. From a report on Reuters: The impairment charge came as Sony cut its outlook for profits from DVD, blu-ray discs and other home entertainment operations in line with a broader market decline, the company said in statement on Monday. Sony has been working to revive its movie business. In November, the Japanese conglomerate's chief financial officer, Kenichiro Yoshida, said a turnaround was "progressing, but it takes time for the benefit to be realized." -
Microsoft's Market Value Tops $500 Billion Again After 17 Years (reuters.com)
Microsoft's market capitalization topped $500 billion for the first time since 2000 on Friday, after the technology giant's stock rose following another quarter of results that beat Wall Street's expectations. From a report: Shares of the world's biggest software company rose as much as 2.1 percent to $65.64, an all-time high, in early trading, valuing the company at $510.37 billion. The last time Microsoft was valued more was in March 2000, during the heyday of the dotcom era, when it had a market value of a little above $550 billion, according to Thomson Reuters data. Despite the gains, Microsoft still lags Apple's market capitalization of about $642 billion and Google-parent Alphabet's market value of a little more than $570 billion. Microsoft reported second-quarter results on Thursday that beat analysts' average estimate for both revenue and profit, mainly due to its fast-growing cloud computing business. The company's profit and revenue have now topped Wall Street's expectations in seven of the last eight quarters. -
Stock Research Moves Past PDFs as Customers Demand More for Their Money (reuters.com)
With investment firms cutting costs and portfolio managers combating a barrage of information, financial research shops around the globe are looking for new ways to keep their product relevant. From a report: A raft of startups have launched to support that effort, offering tools that can use Google search data to get an edge on retail sales, deploy drones to examine oil supplies or allow investors to rank analysts and bid on their reports, like a Netflix or eBay of research. Whether these innovations will lead to smarter investments, or be used widely enough to prop up research budgets, is yet to be seen. But the startups are forming alliances with banks, brokerages and investors by the dozen. People who use and sell the tools say the trend is changing how research is financed, distributed and consumed for the first time in decades. "We are coming up on a very different age for equity research," said Lex Sokolin, global director of fintech strategy at Autonomous Research. Investors now see research as a product that must stand on its own rather than a freebie offered as part of a broader relationship with an investment bank, Sokolin said. Technology can improve the quality and distribution of research, he said. [...] Perhaps most importantly, investors say they are sick of their inboxes piling up with run-of-the-mill reports each day. At a time when people share snippets of information through WhatsApp and Slack and a tweet can move a stock in seconds, sharing loads of PDF files through email is not only passe, but makes it hard to know what is worth reading, industry sources said. -
USDA Scrambles To Ease Concerns After Researchers Were Ordered To Stop Publishing Publicly Funded Science (popsci.com)
Layzej writes: Popular Science reports that the Environmental Protection Agency (EPA) is now barred from communicating with the public. [And early this morning, BuzzFeed revealed that] The U.S. Department of Agriculture (USDA) has banned scientists and other employees from sharing the results of its taxpayer-funded research with the broader public. From the report: "The memo outlining these new rules has not been made public, but the ban reportedly includes everything from summaries of scientific papers to USDA-branded tweets. Scientists are still able to publish their findings in peer-reviewed journals, but they are unable to talk about that research without prior consent from their agency. This is not the first time that public science has been hamstrung by a gag order. To this day, the quantity of oil spewed into the ocean during the 2010 Deepwater Horizon Oil spill remains something of a mystery. Many of the scientists who worked on the spill were hired by BP and barred from speaking on it. But gag orders -- while always troublesome -- have usually been limited to one specific issue. Right now, the EPA and USDA have been forbidden to speak about all of their scientific research. It means that many of the kinds of stories we now cover will never see the light of day." UPDATE 1/24/17: The USDA has disavowed the memo sent to employees at its Agricultural Research Service unit. USDA's deputy administrator, Michael Young, clarified that the gag order specifically applies to policy-related statements in press releases and interviews, which need to be vetted with the secretary of agriculture. He told The Washington Post that peer-reviewed scientific papers from the unit should not be blocked, nor should food safety announcements. The Washington Post notes that "the memo's shortness and terse language seems to have exacerbated the confusion: 'Starting immediately and until further notice, ARS will not release any public-facing documents. This includes, but is not limited to, news releases, photos, fact sheets, news feeds, and social media content,' wrote ARS chief Sharon Drumm in an email to employees." -
Amazon Offers To Scrap Ebook Clauses To Settle EU Antitrust Probe (reuters.com)
U.S. online retailer Amazon has offered to alter its e-book contracts with publishers in a bid to end an EU antitrust probe and stave off a possible fine, the European Commission said on Tuesday. From a report: Amazon, the biggest e-book distributor in Europe, proposed to drop some clauses in its contracts so publishers will not be forced to give it terms as good as those for rivals, the Commission said. Such clauses relate to business models, release dates, catalogs of e-books, features of e-books, promotions, agency prices, agency commissions and wholesale prices. The Commission opened an investigation into the company's e-books in English and German in June 2015, concerned that such parity clauses make it harder for other e-book retailers to compete with Amazon by developing new and innovative products and services. The EU competition enforcer gave rivals and customers a month to provide feedback before it decides whether to accept the proposal. Under EU antitrust rules, such settlements mean no finding of infringement nor fines which could reach 10 percent of a company's global turnover. -
Western Union Pays $586M Fine Over Wire Fraud Charges (reuters.com)
The head of the FTC says Western Union "facilitated scammers and rip-offs," while the company "looked the other way." An anonymous reader quotes Reuters: The world's biggest money-transfer company agreed to pay $586 million and admitted to turning a blind eye as criminals used its service for money laundering and fraud, U.S. authorities said on Thursday. Western Union, which has over half a million locations in more than 200 countries, admitted "to aiding and abetting wire fraud" by allowing scammers to process transactions, even when the company realized its agents were helping scammers avoid detection, the U.S. Department of Justice and the Federal Trade Commission said in statements...
Fraudsters offering fake prizes and job opportunities swindled tens of thousands of U.S. consumers, giving Western Union agents a cut in return for processing the payments, authorities said. Between 2004 and 2012, the Colorado-based company knew of fraudulent transactions but failed to take steps that would have resulted in disciplining of 2,000 agents, authorities said... Between 2004 and 2015 Western Union collected 550,928 complaints about fraud, with 80 percent of them coming from the United States where it has some 50,000 locations, the government complaint said. The average consumer complaint was for $1,148, the government said.
Reuters seemed to suggest that nearly one out of every thousand transactions was fraudulent, reporting that Western Union "said consumer fraud accounts for less than one-tenth of 1 percent of consumer-to-consumer transactions." -
Scientists Enter Hawaii Dome In Eight-Month Mars Space Mission Study (reuters.com)
An anonymous reader quotes a report from Reuters: Six scientists have entered a dome perched atop a remote volcano in Hawaii where they will spend the next eight months in isolation to simulate life for astronauts traveling to Mars, the University of Hawaii said. The study is designed to help NASA better understand human behavior and performance during long space missions as the U.S. space agency explores plans for a manned mission to the Red Planet. The crew will perform geological field work and basic daily tasks in the 1,200-square-foot (365 m) dome, located in an abandoned quarry 8,000 feet (2.5 km) above sea level on the Mauna Loa volcano on Hawaii's Big Island. There is little vegetation and the scientists will have no contact with the outside world, said the university, which operates the dome. Communications with a mission control team will be time-delayed to match the 20-minute travel time of radio waves passing between Earth and Mars. "Daily routines include food preparation from only shelf-stable ingredients, exercise, research and fieldwork aligned with NASA's planetary exploration expectations," the university said. The project is intended to create guidelines for future missions to Mars, some 35 million miles (56 million km) away, a long-term goal of the U.S. human space program. The NASA-funded study, known as the Hawaii Space Exploration Analog and Simulation (Hi-SEAS), is the fifth of its kind. -
Donald Trump Is Sworn In As the 45th US President (reuters.com)
Donald Trump was sworn in as the 45th president of the United States on Friday, succeeding Barack Obama and taking control of a divided country in a transition of power that he has declared will lead to "America First" policies at home and abroad. Reuters reports: As scattered protests erupted elsewhere in Washington, Trump raised his right hand and put his left on a Bible used by Abraham Lincoln and repeated a 35-word oath of office from the U.S. Constitution, with U.S. Chief Justice John Roberts presiding. -
South Korean Court Dismisses Arrest Warrant For Samsung Chief (reuters.com)
An anonymous reader quotes a report from Reuters: A South Korean court on Thursday dismissed an arrest warrant against the head of Samsung Group, the country's largest conglomerate, amid a graft scandal that has led to the impeachment of President Park Geun-hye. But the reprieve for Jay Y. Lee, 48, may only be temporary, as the special prosecutor's office said it would pursue the case. Lee, who has led Samsung since his father, Lee Kun-hee, suffered a heart attack in 2014, was still likely to face the same charges of bribery, embezzlement and perjury, legal analysts said, even if he is not detained. The special prosecutor's office said it would be continuing its probe but had not decided whether to make another arrest warrant request, and the setback would not change its plans to investigate other conglomerates. Spokesman Lee Kyu-chul said the prosecution was unconvinced by the Samsung chief's argument that he was a victim of coercion due to pressure from Park. The office has accused Lee of paying multi-million dollar bribes to Park's confidant, Choi Soon-sil, the woman at the heart of the scandal, to win support from the National Pension Service for a controversial 2015 merger of two Samsung Group affiliates. The merger helped cement Lee's control over the smartphones-to-biopharmaceuticals business empire. -
Tech Firm Creates Trump Monitor For Stock Markets (reuters.com)
randomErr quotes a report from Reuters: London-based fintech firm Trading.co.uk is launching an app that will generate trading alerts for shares based on Donald Trump social media comments. Keeping one eye on the U.S. President-elect's personal Twitter feed has become a regular pastime for the fund managers and traders. Trump knocked several billion off the value of pharmaceutical stocks a week ago by saying they were "getting away with murder" with their prices. Comments earlier this week on China moved the dollar and a pair of December tweets sent the share prices of Lockheed Martin and Boeing spiraling lower. That plays to the growing group of technology startups that use computing power to process millions of messages posted online every day and generate early warnings on when shares are likely to move. Trading.co.uk chief Gareth Mann said the Trump signal generator used artificial intelligence technology to differentiate between tweets or other messages that, for example, just mention Boeing and those liable to move markets. -
China Cancels Over 100 Coal-Fired Power Plants (reuters.com)
In an effort to improve air quality, the Chinese government has canceled over 100 coal-fired power plants in 11 provinces -- totaling a combined installed capacity of more than 100 gigawatts. Reuters reports: In a document issued on Jan. 14, financial media group Caixin reported, the National Energy Administration (NEA) suspended the coal projects, some of which were already under construction. The projects worth some 430 billion yuan ($62 billion) were to have been spread across provinces and autonomous regions including Xinjiang, Inner Mongolia, Shanxi, Gansu, Ningxia, Qinghai, Shaanxi and other northwestern areas. Putting the power projects on hold is a major step towards the government's effort to produce power from renewable sources such as solar and wind, and wean the country off coal, which accounts for the majority of the nation's power supply. To put it in perspective, some 130 GW of additional solar and wind power will be installed by 2020, equal to France's total renewable power generation capacity, said Frank Yu, principal consultant at Wood Mackenzie. "This shows the government is keeping its promise in curbing supplies of coal power," Yu said. Some of the projects will still go ahead, but not until 2025 and will likely replace outdated technology, he said. -
Russia Extends Edward Snowden's Asylum To 2020, To Offer Citizenship Next Year (cnn.com)
Whistleblower and former U.S. intelligence contractor Edward Snowden has been allowed to remain in Russia for another three years and will next year qualify to apply for Russian citizenship. From a report on CNN: Edward Snowden's leave to remain in Russia has been extended until 2020, Russia's Foreign Ministry spokeswoman Maria Zakharova has confirmed to CNN. Snowden, a former US National Security Agency contractor, sought asylum in Russia in June 2013 after leaking volumes of information on American intelligence and surveillance operations to the media. On Tuesday, Zakharova announced an extension of a "couple of years" in a Facebook post that criticized former CIA acting director Michael Morell for an opinion piece he wrote suggesting that Russian President Vladimir Putin should consider returning Snowden to the United States as "the perfect inauguration gift" to President-elect Donald Trump. Snowden settled in Moscow after initially traveling to Hong Kong following his 2013 public disclosure of classified information. The Russian government granted him asylum soon after. In August 2014, Snowden received a three-year extension to his leave to remain in Russia. That extension was due to expire this year. -
Ukraine's Power Outage Was a Cyber Attack, Says Power Supplier (reuters.com)
A power blackout in Ukraine's capital Kiev last month was caused by a cyber attack and investigators are trying to trace other potentially infected computers and establish the source of the breach, utility Ukrenergo told Reuters on Wednesday. From the report: When the lights went out in northern Kiev on Dec. 17-18, power supplier Ukrenergo suspected a cyber attack and hired investigators to help it determine the cause following a series of breaches across Ukraine. Preliminary findings indicate that workstations and Supervisory Control and Data Acquisition (SCADA) systems, linked to the 330 kilowatt sub-station "North", were influenced by external sources outside normal parameters, Ukrenergo said in comments emailed to Reuters. "The analysis of the impact of symptoms on the initial data of these systems indicates a premeditated and multi-level invasion," Ukrenergo said. -
US Antitrust Agency Sues Qualcomm Over Patent Licensing (reuters.com)
Qualcomm shares have plunged after the U.S. Federal Trade Commission filed a lawsuit against the company on Tuesday, accusing the company of using "anticompetitive" tactics to maintain its monopoly on a key semiconductor used in mobile phones. Reuters reports: The FTC, which works with the Justice Department to enforce antitrust law, said that San Diego-based Qualcomm used its dominant position as a supplier of certain phone chips to impose "onerous" supply and licensing terms on cellphone manufacturers and to weaken competitors. Qualcomm said in a statement that it would "vigorously contest" the complaint and denied FTC allegations that it threatened to withhold chips in order to collect unreasonable licensing fees. In its complaint, the FTC said the patents that Qualcomm sought to license are standard essential patents, which means that the industry uses them widely and they are supposed to be licensed on fair, reasonable and non-discriminatory terms. The FTC complaint also accused Qualcomm of refusing to license some standard essential patents to rival chipmakers, and of entering into an exclusive deal with Apple Inc. The FTC asked the U.S. District Court for the Northern District of California in San Jose to order Qualcomm to end these practices. -
China, Europe Drive Shift To Electric Cars as US Lags (reuters.com)
Electric cars will pick up critical momentum in 2017, many in the auto industry believe - just not in North America. Tighter emissions rules in China and Europe leave global carmakers and some consumers with little choice but to embrace plug-in vehicles, fuelling an investment surge, said industry executives gathered in Detroit this past week for the city's annual auto show. From a report: "Car electrification is an irreversible trend," said Jacques Aschenbroich, chief executive of auto supplier Valeo, which has expanded sales by 50 percent in five years with a focus on electric, hybrid, connected and self-driving cars. In Europe, green cars benefit increasingly from subsidies, tax breaks and other perks, while combustion engines face mounting penalties including driving and parking restrictions. China, struggling with catastrophic pollution levels in major cities, is aggressively pushing plug-in vehicles. Its carrot-and-stick approach combines tens of billions in investment and research funding with subsidies, and regulations designed to discourage driving fossil-fueled cars in big cities. The road ahead for electric vehicles (EVs) in the United States, however, could have more hairpin curves. -
US Appeals Court Revives Antitrust Lawsuit Against Apple (reuters.com)
iPhone app purchasers may sue Apple over allegations that the company monopolized the market for iPhone apps by not allowing users to purchase them outside the App Store, leading to higher prices, a U.S. appeals court ruled. From a report on Reuters: The 9th U.S. Circuit Court of Appeals ruling revives a long-simmering legal challenge originally filed in 2012 taking aim at Apple's practice of only allowing iPhones to run apps purchased from its own App Store. A group of iPhone users sued saying the Cupertino, California, company's practice was anticompetitive. Apple had argued that users did not have standing to sue it because they purchased apps from developers, with Apple simply renting out space to those developers. Developers pay a cut of their revenues to Apple in exchange for the right to sell in the App Store. -
Bitcoin Slides as China's Central Bank Launches Checks On Exchanges (reuters.com)
An anonymous reader shares a Reuters report: China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar. The People's Bank of China said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found. Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan. While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. -
WhatsApp, Gmail Roped Into Tougher EU Privacy Proposal (reuters.com)
Online messaging and email services such as WhatsApp, iMessage and Gmail will face tough new rules on how they can track users under a proposal presented by the European Union executive on Tuesday. From a report: The web players will have to guarantee the confidentiality of their customers' conversations and ask for their consent before tracking them online to serve them personalized ads. The proposal by the European Commission extends some rules that now only apply to telecom operators to web companies offering calls and messages using the internet, known as "Over-The-Top" (OTT) services, seeking to close a perceived regulatory gap between the telecoms industry and mainly U.S. Internet giants such as Facebook, Google and Microsoft. -
Supreme Court Will Not Examine Tech Industry Legal Shield (reuters.com)
An anonymous reader shares a Reuters report: The U.S. Supreme Court on Monday let stand a lower court's decision that an online advertising site accused by three young women of facilitating child sex trafficking was protected by a federal law that has shielded website operators from liability for content posted by others. The refusal by the justices to take up the women's appeal in the case involving the advertising website Backpage.com marked a victory for the tech industry, which could have faced far-reaching consequences had the Supreme Court decided to limit the scope of the Communications Decency Act, passed by Congress in 1996 to protect free speech on the internet. -
Huawei Snubs Google, Ships An Android Phone With Alexa (reuters.com)
Huawei announced its flagship handset will gives users access to Amazon's Alexa assistant in the U.S., suggesting a new worry for Google, according to Reuters. An anonymous reader writes: "The adoption of Alexa by a prominent Android manufacturer indicates that Amazon may have opened up an early lead over Google as the companies race to present their digital assistants to as many people as possible, analysts said." Analyst Jan Dawson at Jackdaw Research even told Reuters that if Google's personal assistant lags in popularity when voice becomes the most popular interface, "that's a huge loss for Google in terms of data gathering, training its AI, and ultimately the ability to drive advertising revenue."
Tension may have started when Google decided to debut Google Assistant on their own Pixel smartphones. "While Google has expressed an interest in bringing its assistant to other Android smartphones, the decision to debut the feature on its own hardware may have strained relations with manufacturers, Dawson said. 'It highlights just what a strategic mistake it can be for services companies to make their own hardware and give it preferential access to new services.'"
Nvidia announced this week at CES that they'd be using Google Assistant for their Shield TVs, while Whirlpool and Ford both announced Alexa-enabled products. But this article argues Google Assistant has one thing that Alexa doesn't have: a search engine. -
Norway To Become First Country To Switch Off FM Radio (reuters.com)
Norway is set to become the first country to switch off its FM radio network next week, as it takes the unpopular leap to digital technology. Reuters reports: Critics say the government is rushing the move and many people may miss warnings on emergencies that have until now been broadcast via the radio. Of particular concern are the 2 million cars on Norway's roads that are not equipped with Digital Audio Broadcasting (DAB) receivers, they say. Sixty-six percent of Norwegians oppose switching off FM, with just 17 percent in favor and the rest undecided, according to an opinion poll published by the daily Dagbladet last month. Nevertheless, parliament gave the final go-ahead for the move last month, swayed by the fact that digital networks can carry more radio channels. By the end of the year, all national FM broadcasts will be closed in favor of DAB, which backers say carries less hiss and clearer sound throughout the large nation of 5 million people cut by fjords and mountains. Torvmark said cars were the "biggest challenge" - a good digital adapter for an FM car radio costs 1,500 Norwegian crowns ($174.70), he said. For the same cost, digital radio in Norway allows eight times more radio stations than FM. The current system of parallel FM and digital networks, each of which cost about 250 million crowns ($29 million), saps investments in programs. -
Tesla Gigafactory Begins Production (reuters.com)
Thelasko writes: Right on schedule, Tesla's Gigafactory has begun production of battery cells. The fact that the factory has opened on schedule has surprised many critics of the company. Reuters reports: "Electric car maker Tesla Motors Inc has started mass production of lithium-ion battery cells at its gigafactory in Nevada along with Japan's Panasonic Corp, the company said on Wednesday. The cylindrical '2170 cells,' which will be used to power Tesla's energy storage products and the new Model 3 sedan, have been jointly designed by Tesla and Panasonic, its longstanding battery partner. The gigafactory will initially produce battery cells for the company's Powerwall 2 and Powerpack 2 energy products, Tesla said. The factory is expected to drive down the cost of battery packs by more than 30 percent, the company has said. At peak production, the gigafactory is expected to employ 6,500 workers and create between 20,000 and 30,000 additional jobs in the surrounding regions, Tesla said." -
Amazon Doubles Deliveries in 2016 For Third-Party Sellers (reuters.com)
Amazon.com shipped 50 percent more items this holiday season than last for third-party vendors and doubled the amount for 2016 overall, the retail giant said on Wednesday. From a report on Reuters: Amazon, the world's largest online retailer, has said the 2016 holiday was its best-ever shopping season. However, high spending on warehouses and video production are expected to drag on profits. More sellers are paying the company to store, pack and ship their goods through the Fulfillment by Amazon service. Amazon more than doubled the items it delivered for other sellers in 2016 from the year prior to exceed two billion, a spokesman said. -
Intel Acquires 15 Percent Stake In Mapping Firm HERE (reuters.com)
As the company looks to build its presence in automated driving technology, Intel announced on Tuesday it will acquire a 15 percent stake in German digital mapping firm HERE. Reuters reports: A filing to the German cartel office on Tuesday showed Intel has sought approval to buy a stake in the company, which is controlled by German carmakers Daimler, BMW and Volkswagen. Intel and HERE said in a statement that they had also signed an agreement to collaborate on the research and development of real-time updates of high definition (HD) maps for highly- and fully-automated driving. Intel did not disclose how much it would pay for the stake but said the transaction is expected to close in the first quarter. The deal highlights a shift in the dynamics of research and development in the car industry, which until recently saw automakers largely dictating terms for suppliers to manufacture their proprietary technologies at specified volumes and prices. Now carmakers are increasingly striking partnerships with technology firms using open technology standards, seeking to harness their expertise in areas including machine learning and mapping as they race against Silicon Valley companies such as Google, Tesla and Apple to develop driverless vehicles. -
Samsung To Reveal This Month What Caused the Galaxy Note 7 Smartphone To Catch Fire - Report (reuters.com)
One of the biggest mysteries of 2016 will come to an end sometime this month. Samsung will make public the results of its months-long investigation into what caused several Galaxy Note 7 smartphones to turn into flames later this month, according to a report on Reuters. From the report: The South Korean firm said in October it was examining all aspects of the phone, suggesting there may be a combination of factors that contributed to one of the costliest product safety failures in tech history. Samsung has also previously noted that it was working with several third-party sources and experts to figure out what could have caused the error. A popular theory among many is that Samsung attempted to further slim the form factor of the Galaxy Note 7, which resulted in the battery to be held too tightly within the device -- which in turn, caused the layers of lithium cobalt oxide and graphite to touch. -
Foxconn and Sharp Team Up To Build $8.8 Billion LCD Plant In China (reuters.com)
Foxconn was in the news recently for plans to "automate entire factories" in China, but the electronics manufacturing company has also announced plans with Sharp to build a $8.8 billion (61 million yuan) factory in China to produce liquid-crystal displays (LCDs). Reuters reports: Sakai Display Products Corp's plant will be a so-called Gen-10.5 facility specializing in large-screen LCDs and will be operational by 2019, the company said at a signing event with local officials in Guangzhou on Friday. It said the plant will have capacity equating to 92 billion yuan a year. The heavy investment is aimed at increasing production to meet expected rising demand for large-screen televisions and monitors in Asia. Sakai Display Products Corp's plans for the Guangzhou plant come as Hon Hai seeks to turn the joint venture into a subsidiary, investing a total of 15.1 billion yuan in the company. The venture will also sell 436,000 shares for 17.1 billion yuan to an investment co-owned by Hon Hai Chairman Terry Gou, giving Hon Hai a 53 percent interest in the business and lowering Sharp's stake from to 26 percent from 40 percent. -
China's Cash-Strapped LeEco in Talks To Gain $1.4 Billion From Investor (reuters.com)
China's cash-strapped LeEco said it is in talks to secure 10 billion yuan ($1.4 billion) from an unidentified strategic investor, but the announcement was seen as insufficient to dispel concern over the high-tech conglomerate's financial health. From a report on Reuters: Led by tycoon Jia Yueting, LeEco expanded aggressively into electric and driverless cars and smartphones after making its name in video streaming, but last month warned staff it was facing 'a big company disease' after growing too fast and in too many directions left it short of funds. LeEco is still finalizing details of the investment, according to a filing by its Shenzhen-listed unit Leshi Internet Information and Technology. Leshi said it would extend a trading halt on its stock but the halt would not exceed 10 days. Following its admission of a cash crunch, LeEco said soon after that it had secured commitments for $600 million to support its automotive unit and other high-tech businesses. -
Toshiba Is 'Burning Cash At An Alarming Rate' (reuters.com)
bsharma quotes a report from Reuters: Faced with the prospect of a multibillion-dollar write-down that could wipe out its shareholders' equity, Japan's Toshiba is running out of fixes: It is burning cash, cannot issue shares, and has few easy assets left to sell. The Tokyo-based conglomerate, which is still recovering from a $1.3 billion accounting scandal in 2015, dismayed investors and lenders again this week by announcing that cost overruns at a U.S. nuclear business bought only last year meant it could now face a crippling charge against profit. Toshiba says it will be weeks before it can give a final number, but a write-down of the scale expected -- as much as 500 billion yen ($4.3 billion), according to one source close to Toshiba -- would leave the group scrambling to plug the financial hole and keep up hefty investments in the competitive memory chip industry, which generates the bulk of its operating profit. "Toshiba's immediate problem is that it is burning cash at an alarming rate, and this will be more than challenging," said Ken Courtis, chairman of Starfort Investment Holdings. "I see little option but to sell a slew of non-core assets."One source in the semiconductor industry said Toshiba could revive plans to list a slice of the memory chip business, which though highly profitable burns through cash for reinvestment. "Toshiba will probably need to sell 30-40 percent of the NAND business in an IPO to secure enough cash," the source said, adding China's aggressive drive into NAND flash memory chips could make the timing reasonable. The group has already said it could reconsider the "positioning" of its nuclear business, deemed core last year, and has signaled it could trim an 87 percent stake. -
US Announces Response To Russian Election Hacking [Update] (reuters.com)
Dustin Volz and Joel Schectman, reporting for Reuters: The Obama administration plans to announce on Thursday a series of retaliatory measures against Russia for hacking into U.S. political institutions and individuals and leaking information in an effort to help President-elect Donald Trump and other Republican candidates, two U.S. officials said on Wednesday. Both officials declined to specify what actions President Barack Obama has approved, but said targeted economic sanctions, indictments, leaking information to embarrass Russian officials or oligarchs, and restrictions on Russian diplomats in the United States are among steps that have been discussed. One decision that has been made, they said, speaking on the condition of anonymity, is to avoid any moves that exceed the Russian election hacking and risk an escalating cyber conflict that could spiral out of control. One example of an excessive step might be interfering with Russian internet messaging. The Federal Bureau of Investigation, Central Intelligence Agency and Office of Director of National Intelligence agree that Russia was behind hacks into Democratic Party organizations and operatives ahead of the Nov. 8 presidential election. There is also agreement, according to U.S. officials, that Russia sought to intervene in the election to help Trump, a Republican, defeat Democrat Hillary Clinton.Update: Here's the statement by the President of the United States in response to Russian malicious cyber activity and harassment: All Americans should be alarmed by Russia's actions. In October, my Administration publicized our assessment that Russia took actions intended to interfere with the U.S. election process. These data theft and disclosure activities could only have been directed by the highest levels of the Russian government. Moreover, our diplomats have experienced an unacceptable level of harassment in Moscow by Russian security services and police over the last year. Such activities have consequences. Today, I have ordered a number of actions in response. I have issued an executive order that provides additional authority for responding to certain cyber activity that seeks to interfere with or undermine our election processes and institutions, or those of our allies or partners. Using this new authority, I have sanctioned nine entities and individuals: the GRU and the FSB, two Russian intelligence services; four individual officers of the GRU; and three companies that provided material support to the GRU's cyber operations. In addition, the Secretary of the Treasury is designating two Russian individuals for using cyber-enabled means to cause misappropriation of funds and personal identifying information. The State Department is also shutting down two Russian compounds, in Maryland and New York, used by Russian personnel for intelligence-related purposes, and is declaring "persona non grata" 35 Russian intelligence operatives. Finally, the Department of Homeland Security and the Federal Bureau of Investigation are releasing declassified technical information on Russian civilian and military intelligence service cyber activity, to help network defenders in the United States and abroad identify, detect, and disrupt Russia's global campaign of malicious cyber activities. Editor's note: the story has been updated to include the statement and has also been moved to the top of the front page. -
Panasonic To Invest Over $256 Million In Tesla's US Plant For Solar Cells (reuters.com)
According to Reuters, Panasonic will invest more than $256 million (30 billion yen) in a New York production facility of Elon Musk's Tesla Motors to make photovoltaic (PV) cells and modules. Reuters reports: Japan's Panasonic, which has been retreating from low-margin consumer electronics to focus more on automotive components and other businesses targeting corporate clients, will make the investment in Tesla's factory in Buffalo, New York. The U.S. electric car maker is making a long-term purchase commitment from Panasonic as part of the deal, besides providing factory buildings and infrastructure. In a statement on Tuesday, the two companies said they plan to start production of PV modules in the summer of 2017 and increase to one gigawatt of module production by 2019. The plan is part of the solar partnership that the two companies first announced in October, but which did not disclose investment details. Tesla is working exclusively with longtime partner Panasonic to supply batteries for its upcoming Model 3, the company's first mass-market car. Panasonic is also the exclusive supplier of batteries to Tesla's Model S and Model X. -
China Renews Calls For Tighter Cyberspace Security (reuters.com)
China's top cybersecurity body reaffirmed its commitment to heightened cybersecurity surveillance on Tuesday, calling for increased scrutiny of local and foreign technology used in industries deemed critical to the national interest. From a report on Reuters: A strategy document, released by the Cybersecurity Administration of China (CAC), laid out the framework for a controversial cybersecurity law released in November, which foreign business groups say could bar overseas firms from competing in the market. The CAC has previously countered these claims, saying the measures are not designed to target foreign enterprises, but to counter rising threats of terrorism and cyber-theft. The paper said key Chinese industries must "carry out a security review" of technology to prevent providers and other groups from "implementing unfair competition" and "harming the interests" of users. -
Power Surge: Chinese Electric Car Battery Maker Charges For Global Market (reuters.com)
A dusty village on the outskirts of Ningde, a third-tier city in China's southeast, seems an unlikely place for the headquarters of a potential global leader in future automotive technology. Reuters writes about a promising company from China that is eyeing global expansion. From the article: Yet China's top-down industrial policy diktats - move up the value chain, clean up polluted urban skies, and shift to plug-in cars -- have Contemporary Amperex Technology Ltd poised to go from hometown hero to national champion, and beyond. China's answer to Japan's Panasonic Corp and South Korea's LG Chem Ltd has tripled its production capacity for lithium-ion car batteries in the past year to keep up with a surge in China's sales of electric cars. After a second major funding round completed in October, the company's value quadrupled to 80 billion yuan ($11.5 billion), CEO Huang Shilin said last week. CATL, which hopes to list on Beijing's over-the-counter exchange as part of plans to raise at least another 30 billion yuan by 2020, could be a dominant force globally. -
Dutch Market Regulator Bans T-Mobile's 'Free' Streaming Music Service (reuters.com)
The Dutch Consumer and Markets regulator ordered T-Mobile to shut down its zero-rated music streaming service because it violates the country's net neutrality rules. T-Mobile launched the Music Freedom service in October, allowing customers to stream music on their mobile devices without it impacting their data plans. Reuters reports: The AFM said the practice, often called "zero rating" is a violation of Dutch net neutrality rules, because it puts rival services such as Spotify at a competitive disadvantage. Deutsche Telekom subsidiary T-Mobile Netherlands, which had introduced the product on Oct. 10, must stop offering it or face penalty of 50,000 euros ($52,000) per day, the AFM said. Zero rating is shaping up as one of the major battlegrounds for European telecommunications companies as they seek ways to attract customers. The Dutch net neutrality law unambiguously forbids the practice, but European Union rules are less clear.