|Day's Range||0.8500 - 1.3000|
HyperChange founder and CEO, Galileo Russell explains to Yahoo Finance why he thinks Tesla is should not sell itself to another company.
A Yahoo Finance investigation reveals a lobbying campaign on behalf of big tech to stop data privacy bills this year in at least 13 states.
In today's top stories, the mystery is over: Android Q has an official name, but it's not a sweet treat. Meanwhile, a report says we may see Pro models of the iPhone in September.
Google today announced a new long-term initiative that, if fully realized,will make it harder for online marketers and advertisers to track you acrossthe web
(Bloomberg) -- Huawei Technologies Co. expects U.S. export restrictions to reduce annual revenue at its consumer devices business by about $10 billion, as the company is banned from buying American components like semiconductors and software.China’s largest technology company is seeking ways to replace key U.S. suppliers such as Cadence Design Systems Inc. and Synopsys Inc., Deputy Chairman Eric Xu said Friday. The overall damage to the company will be a “little less” than billionaire founder Ren Zhengfei’s initial estimate, Xu added.Huawei is seeking to develop alternatives after coming under intense pressure from the Trump Administration, which has argued its technology represents a security threat. On Friday, it introduced its most powerful artificial intelligence chipset, the Ascend 910, which is poised to rival some of the best offerings from Qualcomm Inc. and Nvidia Corp. Earlier this month, it offered the first glimpse of an in-house software -- HarmonyOS -- that may someday replace Google’s Android.The company is also researching ways to replace chip-design software tools offered by Cadence and Synopsys, Xu told a news briefing in Shenzhen without elaborating. “There were no chip design tools 10 years ago, but the industry still developed chips,” said Xu, who argued that Cadence and Synopsys were not must-haves for design. “Intel started to develop chips in the 1970s, when those companies didn’t exist.”Since May, Huawei has occupied the uncomfortable position of being both an established global brand and a member of the U.S. Entity List, which bars it from trading freely with American suppliers. Despite a series of 90-day reprieves, the latest of which came this week, the uncertainty caused by American sanctions has already cost the company a great deal.Even if Huawei is eventually brought in from the cold, the impact of this summer’s upheaval will be widespread and painful. Already, it reported slower sales growth in the second quarter compared to the first as the ban started to bite, especially into a consumer business encompassing smartphones and laptops. That in turn is accelerating Huawei’s effort to become self-reliant.One area in which the Chinese company is rapidly developing in-house expertise is semiconductors, propelling Beijing’s ambitions of weaning itself off foreign chips. HiSilicon -- Huawei’s chip design subsidiary -- has been developing its capabilities for a long time, and it’s recently grown into the second largest customer (after Apple Inc.) for the world’s biggest chip manufacturing contractor Taiwan Semiconductor Manufacturing Co. Huawei has also elevated the presence of home-grown technologies throughout its product line -- from base stations to smartphones and servers -- as a key step to limiting the damage of the U.S. ban.The Ascend 910 processor unveiled Friday is a show of technological prowess. It will be used for AI model training, and Huawei says it outperforms all existing competition. Xu proclaimed that “without a doubt, it has more computing power than any other AI processor in the world.” The company also unveiled MindSpore, an AI computing framework that -- along with the 910 -- is supposedly twice as fast as Google’s TensorFlow.”The May 16 sanctions incident had no impact on the execution of Huawei’s AI strategy nor commercialization of AI products,” said Xu. “Our R&D project related to AI is building up steadily.”(Updates with Ascend’s specs from the third paragraph)To contact Bloomberg News staff for this story: Gao Yuan in Beijing at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Edwin Chan, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
When Mustafa Suleyman co-founded artificial intelligence wunderkind DeepMind in 2010, along with his childhood friend and neuroscientist Demis Hassabis, he was driven by wanting to solve real-world problems. The company, which was acquired by Google in 2014, has always maintained a dual goal: to “solve” or replicate human-level intelligence in machines and use it to fix huge social challenges. “Our toughest social problems are solved by groups of motivated people thinking in novel ways about organising impact at scale by being pragmatic and non-dogmatic,” Mr Suleyman told the Financial Times in a previous interview.
(Bloomberg Opinion) -- Given the swelling ranks of the world’s billionaires, you’d have thought the past 10 years would have been fabulous for private jet suppliers.In reality, the period since the great recession has been a “lost decade” for the industry’s manufacturers, analysts say. A glut of second-hand aircraft sapped demand for new models, while shared ownership and renting became popular alternatives to buying a plane outright. Meanwhile, large corporations that once thought nothing of jetting their execs around in comfort started scrutinizing budgets and worrying about conspicuous excess. In 2017 General Electric Co. said it would sell its fleet after unflattering reports about its former boss, Jeff “two planes” Immelt.The industry seemed to have turned a corner recently thanks to the U.S. economic recovery, a fresh lineup of bigger models, plus tax giveaways from President Donald Trump that made it much cheaper to purchase a plane. North America is expected to account for more than half the global market for private jets in the next five years, according to Honeywell International Inc.Yet suppliers face another looming threat: Our rapidly heating planet might make boarding a fuel-guzzling jet seem unconscionable. In Sweden there’s even a word for this new aversion to flying: flygskam or “flight shame.” Are the super-wealthy 1% susceptible too?It’s not just climate campaigners who think the industry has an image problem. Warren East, chief executive of the jet engine-maker Rolls-Royce Holdings Plc, said recently that aviation as a whole “is built on setting fire to hydrocarbons” and needs to wean itself off that “quite quickly.” Bombardier Inc., owner of the Learjet brand, warned in its annual report that “the impact to us and our industry from legislation and increased regulation regarding climate change is likely to be adverse and could be significant.”The globe-trotting business elite and A-list celebrities who once made private jets such desirable status symbols certainly aren’t helping the industry’s image problem, with the media increasingly taking issue with those who preach the environmentalist faith while turning up at events in their Gulfstreams.The British royal Prince Harry has been dubbed the “Carbon Footprince” by his country’s press after taking several private flights to the Mediterranean this summer despite his outspokenness on ecological issues. It’s doubly ironic that one of those journeys was to Alphabet Inc.’s four-day climate change summit in Sicily, where an epic queue of private jets rather undermined the well-intended activism.You can see what the critics are getting at from a “do as I say, not what I do” perspective. Travelling by private jet produces several times more carbon dioxide than purchasing an economy seat on a commercial flight (precisely how much depends on how many people are on board and whether the jet flies home empty). The average American is responsible for about 16 tons of CO2 emissions per year. That’s already three times the global average, but it’s only a fraction of what private jets produce in a typical year.As such, the tax advantages for private jets are very hard to justify. Nor is it helpful that many operators will be exempt from the aviation industry’s commitment – known as Corsia – to cap net emissions at 2020 levels and to halve these by 2050.(1)Banning private jets, as some have suggested, wouldn’t do much to curb climate change as there are only about 20,000 of them operating today. The aviation industry accounts for about 2%-3% of global emissions and private jets perhaps pump out as little as 0.04% of the total, according to industry groups.But symbolism matters in the climate debate. If private jet users aren’t seen to be doing their bit, they can’t reasonably expect poorer folk to make sacrifices either. While the purchase of carbon offsets to make up for the impact is worthy and rational, intellectual justifications are a hard sell on this topic.Of course, private jets aren’t just frivolous toys, they have their uses too as a time-saving device for executives. As such, their users and makers will be eager to combat any burgeoning environmental backlash through the development of cleaner technologies. Carbon efficiency no doubt will become as important as time efficiency in selling planes.Startups such as Eviation, as well as incumbent manufacturers and suppliers, are already plowing money into hybrid and electric aircraft. The industry is also trying to encourage operators to use non-petroleum fuels, although they’re expensive and hard to get hold of. Because of the limited energy density of batteries, it’s probable that smaller aircraft will be the first to go electric. In the meantime, my guess is that rich folk will think twice before posting a shot of their plush planes on Instagram. The Swedes have a word for that too: smygflyga – “flying in secret.” (1) Planes with a maximum takeoff weight of below 5700kg and operatorswith fewerthan 10,000 tonnes of annual carbon emissions are excluded. The private jet industry says it will pursue voluntarily the same goals anyway.To contact the author of this story: Chris Bryant at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Goldman Sachs’ “Hedge Fund VIP List”—containing the 50 most popular stocks among hedge fund portfolios—has outperformed the broader market for the past 18 years. The Hedge Fund VIP basket has beaten the market by an average 50 bps in every quarter since 2001. The list is a tool that investors can use to “follow the smart money,” wrote Goldman’s analysts in their most recent Hedge Fund Trend Monitor report, which analyzes a group of 835 distinct hedge funds.
Hong Kong braced for an anti-government protest "stress test" of the airport this weekend, as weeks of sometimes violent demonstrations in the Chinese-ruled city showed no signs of let-up amid rising tension between China and some Western nations. The airport, reached by a gleaming suspension bridge carrying both rail and road traffic, was forced to close last week when protesters, barricading passageways with luggage trolleys, metal barriers and other objects, clashed with police. China's Hong Kong affairs office condemned the mayhem as "near-terrorist acts".
Alphabet Inc's Google announced on Thursday that its YouTube streaming video service disabled 210 channels appearing to engage in a coordinated influence operation around the Hong Kong protests, days after Twitter and Facebook said they dismantled a similar campaign originating in mainland China. "This discovery was consistent with recent observations and actions related to China announced by Facebook and Twitter," said Shane Huntley, one of Google's security leaders, in a blog post.
Seattle software engineers make an average $116,500 base salary a year, and California companies broadening their Seattle-area bases drive those figures up.
(Bloomberg) -- Google said it disabled 210 YouTube channels involved in “coordinate influence operations” around the Hong Kong protests, following similar measures earlier this week by social media companies Facebook Inc. and Twitter Inc.The Alphabet Inc. unit didn’t specify which channels were shut down in Thursday’s blog post announcing the decision. But the post said the company discovered accounts “consistent with recent observations and actions related to China” from Facebook and Twitter.The social media companies said earlier this week that they had removed hundreds of accounts linked to the Chinese government that were pushing messages meant to undermine the legitimacy of the protests in Hong Kong. Twitter also blocked advertising from state-controlled media. Facebook and Google have not made similar moves on advertising.YouTube, like Google search and other social media services, does not operate in China.To contact the reporter on this story: Mark Bergen in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It will draw from hundreds of news sources, including national outlets such as The Wall Street Journal, New York Times, the Washington Post and NBC News, digital-native players, magazine publishers and local newspapers, the Journal said. News Corp, which owns Dow Jones Newswires, HarperCollins book publishing business and the Wall Street Journal, did not immediately respond to a request for comment.
President Donald Trump will raise the issue of France's tax on U.S. tech giants including Amazon and Google when he meets French President Emmanuel Macron during a G7 meeting this weekend, a senior administration official said Thursday. In July, the French Senate approved a 3% tax that will apply to revenue from digital services earned in France by companies with revenue above certain thresholds. Trump has previously threatened what he called "substantial reciprocal action" for the tax, and suggested the U.S. could slap tariffs on French wine. The G7 meetings will be held in Biarritz, France Saturday through Monday.
Although most investors consider the venerable Dow Jones as the benchmark index, in reality, folks should instead consider names like Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Facebook (NASDAQ:FB) and Amazon (NASDAQ:AMZN). After all, an investment toward Alphabet stock gives you wide-ranging exposure to the most relevant and lucrative sectors.Source: Valeriya Zankovych / Shutterstock.com Unfortunately, being relevant doesn't necessarily protect you from a broader market downturn. Since the U.S.-China trade war has ratcheted up several notches in intensity, equities have not offered much stability. That goes for the GOOGL stock price, along with the market values of the internet giant's peers.Of course, it's now very tempting to go discount shopping on big tech firms. For instance, Alphabet stock has shed more than 4% since gapping up on July 26. During this same period, rivals AMZN and FB have lost 6% and 8%, respectively.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis gamble might pay off for the speculator. But if your investing style leans more to the conservative end of the spectrum, there's nothing wrong with waiting. Yes, the GOOGL stock price below $1,200 is enticing. Based on the longer-term chart, shares really want to bust through the $1,300 level decisively. * 10 Marijuana Stocks to Ride High on the Farm Bill However, we could have a very ugly recession threat on our hands. Primarily, President Donald Trump may be losing control of the situation. Recently, he declared himself the "Chosen One" as he defended his aggressive stance on China. To me, this is the sound of panicking and bodes poorly for Alphabet stock in the interim.That's because history shows us - like the Smoot-Hawley Tariff Act - that wrong high-level choices have severe consequences. Therefore, you don't want to go crazy on GOOGL stock. The Risky, but Fundamentally Sound Case for Alphabet StockBut should you avoid GOOGL stock indefinitely?I'm going to be upfront. If you want both a defensive position and to stay in equities, I'd go for the boring companies: Procter & Gamble (NYSE:PG), Kimberly Clark (NYSE:KMB), and Home Depot (NYSE:HD). These are companies that have consistent demand. In my opinion, they're too boring to disrupt, giving them an Amazon moat.However, if you can handle some risk, I'd buy Alphabet stock on the next big dip. Why? Ultimately, the tech giant is a play on everything relevant.Principally, most analysts focus on the dominant presence that Alphabet levers in the U.S. digital-ad space. Together with Facebook, the fearsome duo takes home about 60% market share. Obviously, this is a compelling reason to consider Alphabet, especially if the GOOGL stock price tanks. Equity losses won't immediately translate to a loss in ad dominance.While competitors like Amazon are butting into the arena, GOOGL has a very sizable lead. And this synergizes well with Alphabet's supremacy in the search engine space.Let's zoom out to a wider angle. Even if we suffer a recession, we won't suddenly transition to a "Mad Max"-like society. Instead, people will do normal things, like look for a job. For such a purpose, Google (and Facebook) will see a lift in traffic, helping Alphabet stock move higher.Also, businesses desperate to gain traction will likely advertise through Google. Again, just because we're in a recession doesn't mean our behaviors will incur a paradigm shift. In this digitized economy, traditional advertising channels have become obsolete. Thus, if you want to do anything, you must do so digitally. It's unfair perhaps, but it's also a driving force for Alphabet stock. Multi-faceted Tech Business Supports GOOGL StockIf the digital-ad presence wasn't enough of a convincing reason, then investors should zoom out even wider.Whether or not you agree with the Trump administration's stance on China, the Asian power has compromised U.S. interests. In his world view, President Trump must hold China accountable for their actions.But underlining the events that led up to the trade war is China's desire to dominate world affairs. Their government even has a name for it: "Made in China 2025." And it's not just the second-biggest economy that's tired of American geopolitical hegemony. In recent years, Russia's actions harken back to the Soviet Union era.What does this have to do with Alphabet stock? The tech firm attained leadership in many of the categories for which our adversaries wish to dominate, such as artificial intelligence. Right now, U.S. government agencies are taking a close look at big tech's anti-competitive behaviors.But that prosecution will probably fade into the background if we have a recession, especially one related to an adversary. Instead, an economic downturn could translate to a rallying cry for GOOGL stock.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio The post Alphabet Stock Has Recession-Resistant Trump Cards appeared first on InvestorPlace.
After some brief excitement following the closing of its Red Hat deal, International Business Machines (NYSE:IBM) stock is back in the doldrums.Source: JHVEPhoto / Shutterstock.com Shares were due to open Aug. 22 at about $134.20. They're down 7.5% over the last year, and almost 30% over the last five years. Shareholders are still getting a $1.62 per share dividend that yields 4.84%, but Red Hat blew a huge hole in the balance sheet and IBM stock price. IBM debt on June 30 was over $58 billion. * 10 Marijuana Stocks That Could See 100% Gains, If Not More IBM needs a new story to tell. Red Hat, and the "open hybrid cloud," is that story. IBM has created Open Shift "Cloud Packs" for all its hardware, with hopes of making all computers into clouds. This includes IBM Z-Series mainframes.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Whitehurst for IBM CEO?What analysts say they want from IBM stock is Red Hat CEO Jim Whitehurst in current CEO Virginia Rometty's chair. They want Red Hat running IBM.That wasn't the promise when this deal was put together. The promise was that Red Hat would get autonomy from IBM, not that IBM would lose its autonomy to Red Hat. But Whitehurst's concept of an Open Organization has excited analysts who don't even know what it is.If IBM became an Open Organization, these analysts think, it would replace the top-down structure IBM has used for a century with an organic system in which employees and customers are part of the product design process. Instead of selling gear or even solutions, IBM would become a corporate change agent.But IBM has spent decades getting to this low point, dumping older workers and paying those who remain less than competitors.Rometty's IBM is a hollowed-out shell, analysts think, dedicated solely to its dividend and hierarchies. Can Whitehurst really teach it to dance? Everybody Gets a CloudThe 2010s have become the "cloud decade" with $4.5 trillion of market cap locked inside just five companies with scaled networks of cloud data centers.Whitehurst's vision is that every company and organization gets its own cloud, using the clouds of Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Alphabet (NASDAQ:GOOGL) seamlessly, and only when needed.This is now IBM's vision. So, the analysts ask, why isn't Whitehurst running IBM?It's because IBM also has a host of other software and hardware platforms, including older, proprietary Unix operating systems, and the Z-Series software of its mainframes. They are on what senior Vice President for Cloud Arvind Krishna calls a "multi-year journey" toward compatibility.In short, it will take years for IBM stock to become what Whitehurst wants it to sell.IBM also has other irons in the fire besides cloud. The company has been spending big on artificial intelligence, on machine learning, and on blockchain. The Bottom Line on IBM StockInternational Business Machines has been run like an old-fashioned industrial organization for decades. Even if Whitehurst became CEO tomorrow, it would take him years to transform the company.IBM shareholders are income investors focused on the dividend, which costs IBM nearly $1.5 billion to service each quarter. Then there's the interest on that debt which, even at 5% would cost nearly $3 billion a year to service. So far, IBM's only financial response to Red Hat has been to halt its stock buybacks, on which it spent $1.2 billion in the last year.IBM earned $8.7 billion in 2018 and could hit that mark again, assuming its third quarter earnings come in as expected. Whether it can be transformed and perform like a real tech company is purely speculative at this point.But if it can, the gains would be huge. Oracle (NASDAQ:ORCL), considered stodgy by Silicon Valley standards, is worth $177 billion with sales of $40 billion. IBM is worth $113 billion on sales of $79 billion. IBM is a long-shot speculation with a 5% yield.Dana Blankenhorn is a financial and technology journalist. He is the author of the environmental story, Bridget O'Flynn and the Bear, available at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AMZN and MSFT. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks That Could See 100% Gains, If Not More * 11 Stocks Under $10 to Buy Now * 6 China Stocks to Buy on the Dip The post IBM Stock and Jim Whitehurstas Toughest Test appeared first on InvestorPlace.