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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.
The University of Notre Dame’s investment office has “a long-term orientation to our investment partnerships and approach.” But the university made big changes in its U.S.-traded stock investments in the relatively short time frame of the second quarter.
PayPal takes on India’s digital payments market as it looks to international markets for growth. India presents a $1.0 trillion opportunity for the company.
Each of the four Big Tech companies under investigation, to varying degrees, faces exposure to antitrust charges. Their vulnerabilities reflect their marketing strengths, from Apple Inc.’s money-minting App Store to Facebook Inc.’s vice-like grip on social media through its acquisition of WhatsApp.
Alphabet Inc.'s Google has issued "community guidelines" that discourage employees from debating politics in the workplace, an about-face from its previously open policy. The new rule is an effort to tone done "disruptive" conversations, and hold employees responsible for what they say, the company said. Google is also designing a tool that lets workers flag objectionable internal posts, it said. The move comes after more than a year of protests from conservative politicians and commentators who claim Google has shown liberal bias in digital searches and in its corporate culture, culminating in a Congressional hearing on the topic last month.
Shares of Apple and Silicon Valley's semiconductor companies were pummeled on Friday as President Trump responded to new tariffs from China with a tweet saying he's demanding that American companies "immediately start looking for an alternative to China."
(Bloomberg) -- Alphabet Inc.’s Google posted internal rules that discourage employees from debating politics, a shift away from the internet giant’s famously open culture.The “community guidelines” tell employees not to have “disruptive” conversations and warn workers that they’ll be held responsible for what they say at the office. Google is also building a tool to let employees flag problematic internal posts and creating a team of moderators to monitor conversations on company chat boards, a spokeswoman said.“While sharing information and ideas with colleagues helps build community, disrupting the workday to have a raging debate over politics or the latest news story does not,” the policy states. “Our primary responsibility is to do the work we’ve each been hired to do.”Google has long encouraged employees to question each other and push back against managers when they think they’re making the wrong decision. Google’s founders point to the open culture as instrumental to the success they’ve had revolutionizing the tech landscape over the last two decades.But the free-wheeling culture has led to a rash of problems for Google management in recent years. Some employees have used internal chat boards to rally other workers against some Google projects, helping push the company to end work on a censored search engine for the Chinese market and an artificial intelligence contract for the U.S. military.“I think it’s specifically intended to silence dissent,” Irene Knapp, an engineer at Google, said. “This is the end of the important parts of Google’s open culture.”Listen to the Bloomberg Decrypted podcast "Google Workers Rise Up: Inside the Protests"“Ultimately, business interests will always win out over ethics in terms of what we’re allowed to say,” Knapp said.(Updates with comment from employee in sixth paragraph.)To contact the reporter on this story: Gerrit De Vynck in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Robin Ajello, Giles TurnerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Google said yesterday that it would be shutting down 210 YouTube channels pumping out misinformation about the Hong Kong protests.
Blank-check company Legacy Acquisition Corp. has agreed to purchase a global digital marketing company to be renamed Blue Impact Inc., clearing the way to grow organically and through M&A. Legacy, which raised $300 million almost two years ago, is led by former Procter & Gamble executive Edwin Rigaud but the new company will be […]
A copy of the guidelines obtained by Recode discourages Googlers from “disrupting the workday to have a raging debate over politics or the latest news story.”
DICK'S Sporting (DKS) posts better-than-expected second-quarter fiscal 2019 results driven by solid same-store sales performance. Also, it raises its bottom-line view for fiscal 2019.
A vast majority of employees queried at Cisco Systems and several other big Silicon Valley tech employers say they've noticed cost-cutting at work.
This week, we learned about ongoing efforts to end the political crisis in Venezuela. We think that tech companies could benefit if the talks are successful.
Telecom carriers need a win. The smartphone business is stagnant. Consumers have become complacent with good enough devices. But 5G, coupled with amazing new AR experiences, changes everything.
(Bloomberg Opinion) -- If you are searching for the EU’s next bad idea, look no further than the “European Future Fund.” The 100 billion euro ($110 billion) pot, first reported in Politico, would be a way to boost strategic sectors which are seen as lagging behind China and the U.S.It’s not a formal policy plan, and the details are still scanty. But Ursula von der Leyen, the incoming president of the European Commission, would be wise to ignore the proposal. Europe needs to pool resources in other areas, starting, for example, with a fund to help euro-zone member states stabilize their economies when they face shocks. It’s best to leave most of industrial policy to national governments, making sure they do so fairly.The “European Future Fund” has been dubbed a sovereign wealth fund – except that it isn’t. The EU is not a sovereign state and will not become one for the foreseeable future. The EU would not be tapping any existing “wealth” or natural resources. A sovereign wealth fund like Norway’s – which uses income generated by its oil and gas reserves – is a way to ensure that such riches are not wasted on current spending, but invested to guarantee future prosperity. The EU would simply be using existing budget resources to create such a fund in the hope of attracting money from the private sector.Any help for Europe’s so-called strategic sectors should be handled with care. There is merit in launching joint R&D initiatives, such as the partnership France and Germany have set up to develop electric car batteries. But it is less clear why the EU should intervene to stop takeovers of individual firms by foreign companies, which seems to be at least one of the reasons to set up this fund. Does the Commission have the ability to manage a stake in a fast-growing tech firm? With what objectives? At what price will the acquisition take place? The risk is that fewer European start-ups will grow if they fear they can’t be sold to a deep-pocketed foreign rival. Take no offense, but Google can be a much more attractive buyer than any “European Future Fund.”The Commission is going at the problem the wrong way. Several member states – France and Germany in particular – have decided that the reason why Europe is not fertile ground for innovation is that companies are not allowed to develop to an adequate size to compete with rivals from China and Silicon Valley. They argue that competition policy needs updating, which is really a polite way to say it needs to be watered down. This argument is misplaced in several ways. Economic studies have found no direct relationship between how large and how innovative a business is. Moreover, the Commission rarely blocks mergers between companies that operate in similar industries. If a state wants to step in and buy a company at its market price and manage it in a competitive manner, there is no reason why it can’t.Margrethe Vestager, the EU’s departing competition commissioner, has offered some meaningful resistance to this Franco-German push, for example blocking the rail merger between Alstom SA and Siemens AG. But it’s unclear that any new commissioner, assuming she moves on to another role, will be as combative. The EU needs a strong enforcer of competition more than any lofty new fund.To contact the author of this story: Ferdinando Giugliano at firstname.lastname@example.orgTo contact the editor responsible for this story: Stephanie Baker at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Ferdinando Giugliano writes columns on European economics for Bloomberg Opinion. He is also an economics columnist for La Repubblica and was a member of the editorial board of the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Google has warned its workers to tone down the divisive political debate and ideological feuding that have caused severe ructions at the technology company — or risk seeing tighter controls imposed on internal discussion. The call for employees to be more circumspect in their internal communications marks a belated attempt by management to regain control after a series of explosive internal feuds. struck by Google’s workers prove that it has an inbuilt anticonservative bias.
(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.