|Day's Range||85.10 - 85.10|
France's competition authority has ordered Google to negotiate with publishers to pay for reuse of snippets of their content -- such as can be displayed in its News aggregation service or surfaced via Google Search. The country was the first of the European Union Member States to transpose the neighbouring right for news into national law, following the passing of a pan-EU copyright reform last year. Among various controversial measures the reform included a provision to extend copyright to cover content such as the ledes of news stories which aggregators such as Google News scrape and display.
Google's game-streaming service Stadia is now free for anyone with a Gmail account, the company announced today. Assuming you've got a compatible device and controller — and good internet in one of the 14 supported countries — you can sign up right now and get the "Pro" edition with a handful of built-in games for two months. Until today, Stadia was only available via a $129 "Premiere Edition" that came with a controller, though a free "Base" version has been long promised.
To stay connected amid the coronavirus-induced lockdown, people across the world are relying heavily on the Internet, which brightens up prospects for cloud players.
(Bloomberg) -- The bad news is well-known: The coronavirus pandemic could spark the deepest economic downturn of our lifetimes — something between the Great Recession and the Great Depression.Here’s the good news: If countries cooperate and keep their markets open, they could quickly rebound and avoid a repetition of the two darkest economic periods of the past century.That was the message World Trade Organization Director-General Roberto Azevedo delivered Wednesday from his residence on the outskirts of Geneva.During an extraordinary YouTube webcast, Azevedo offered an exit strategy for nations looking to regain their post-pandemic economic footing:Provide a robust fiscal stimulus package to consumers and businesses Contain the health crisis as expeditiously as possible Coordinate international efforts to limit trade restrictionsThat third part is crucial, he said, because “a turn towards protectionism would introduce new shocks on top of those we are currently enduring.”Right now some 70 nations — including the U.S., China and much of Europe — are imposing export curbs on critical medical supplies, according to the University of St. Gallen’s Global Trade Alert.These measures, the nations say, are essential to protect the health of their citizens and first responders. But some restrictions struggle to pass the smell test.Protectionism might be a natural instinct in a health crisis that respects no borders, but like consumer hoarding, it can cause more harm to the greater good. A far better way to propel rapid global economic recovery is for nations to cooperate and avoid unnecessary barriers to trade, Azevedo argued.Global markets should remain free of restrictions “so that we pull each other up and not hold each other down,” he said.While it’s too soon to say if Azevedo’s call for unity will fully resonate with world leaders, President Donald Trump nodded in that direction Wednesday.In a tweet, Trump thanked Indian Prime Minister Narendra Modi for releasing stocks of an anti-malarial drug for possible treatment of the disease.“Extraordinary times require even closer cooperation between friends,” Trump wrote, just two days before a U.S. ban on exports of some personal protective equipment takes effect.Charting the Trade TurmoilThe coronavirus pandemic may cause a deeper collapse of international trade flows than at any point in the postwar era, the World Trade Organization said. The Geneva-based trade body presented two possible scenarios: In an optimistic case, the WTO forecasts global merchandise trade may fall 13% in 2020, while the pessimistic case sees those volumes drop by 32% this year.Today’s Must ReadsNo paychecks | Japan’s three biggest automakers are poised to add almost 32,000 people to the unprecedented ranks of North American workers seeking unemployment benefits. Export ban | The U.S. government’s ban on exports of some personal protective equipment to fight the virus will take effect Friday and will be in place for four months. Output cut | Airbus slashed its aircraft output by a third to about 48 planes a month, in a stark concession to the pandemic and travel restrictions rocking the aviation industry. Labor supply | Poland has leaned in recent years on more than a million workers from Ukraine to sustain its economy. The coronavirus is shaking up that relationship. Not so handy | Hand sanitizer will be hard to find in the U.S. for a long time because there aren’t enough chemicals and plastic containers to meet demand. Stephanomics podcast | Senior trade reporter Shawn Donnan explains how the pandemic has shifted his focus from debates about globalization to looking at the damage happening on the ground right now. Bloomberg AnalysisBritain’s labor woes | Unemployment in the U.K. may have jumped to 6.3% from 3.9%, Bloomberg Economics estimates. Brazil challenge | Coronavirus hits Brazil where it hurts the most, turning already-tepid growth into a recession. Use the AHOY function to track global commodities trade flows. See BNEF for BloombergNEF’s analysis of clean energy, advanced transport, digital industry, innovative materials, and commodities. Click VRUS on the terminal for news and data on the coronavirus and here for maps and charts.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Estimates have barely budged for Facebook and Google even though the ad market is showing signs of a deep downturn. The slashing of estimates likely starts with earnings reports in two weeks.
Alphabet Inc.’s Google lords over the online-advertising market, which is both a blessing and a curse in the age of coronavirus.
(Bloomberg) -- There has been concern for months in Silicon Valley that the eventual Democratic presidential candidate would be someone who wanted to break up large technology companies. Bernie Sanders’s decision Wednesday to end his campaign effectively ends that scenario, leaving a presumptive nominee—former vice president Joe Biden—who is comparatively content with the way Silicon Valley does business.The turn in the primary race corresponds with an upheaval in political priorities due to the Covid-19 crisis. It’s still uncertain how the aftermath of the pandemic will play out, but the political landscape the industry faces in 2020 has almost certainly been transformed over the last six weeks.The primary process first took a hostile turn to the tech industry last spring when Senator Elizabeth Warren proposed a plan to force Amazon.com Inc., Alphabet Inc. and Facebook Inc. to spin off parts of their businesses. Sanders, the democratic socialist senator from Vermont, later said he would “absolutely” aim to break up large technology companies if elected. At the same time, multiple investigations into allegations of anticompetitive behavior from large technology companies were accelerating.For his part, Biden has called it “premature” to call for breaking up companies like Facebook. The former vice president has criticized tech companies and their leaders, particularly Facebook CEO Mark Zuckerberg, telling the New York Times editorial board that he had “never been a big Zuckerberg fan.” In the same interview, Biden suggested revoking Section 230 of the Communications Decency Act, a law protecting tech companies from legal liability for what their users post. The industry has made defending the law one of its top political priorities.But Biden’s attacks have never provoked the concerns as those from Sanders and Warren. He has deep ties to the tech industry; his former director of communications, Jay Carney, is now Amazon’s top spokesman. Biden has also repeatedly framed his administration as a continuation of the Obama years, and several former Obama officials have set up shop in Silicon Valley.While the tech industry rank-and-file mostly donated to the industry’s antagonists, its executives seemed most excited about younger moderates Pete Buttigieg and Cory Booker. Biden is a happy consolation prize.An open question is who Biden surrounds himself with now that he seems to have locked up the nomination. Neither Warren nor Sanders has endorsed him, and may hold out to push Biden to pick staff supporting their priorities.The anti-tech momentum may also fade because of the coronavirus pandemic. While state and federal antitrust investigations will continue, new antitrust rules will likely take a back seat to more economic rescue legislation. Tech services seem even more vital when large swaths of the population are confined to their houses. And Google, Facebook, Apple Inc., and others have been quick to offer help in various ways.President Donald Trump has been vocally critical of technology companies, and he’s widely unpopular among tech workers. He has regularly called for crackdowns on social media companies and other perceived enemies in the industry. But his top policy achievement, a major corporate tax cut, helped send tech stock prices soaring. (They have since come back down after coronavirus fears have sunk the entire market.) Trump has also seemed to pick favorites among the tech sector, cozying up to Oracle Corp. and Apple, while repeatedly criticizing Amazon and Facebook.Silicon Valley voters generally lean Democratic. But it’s even harder than usual to predict what the upcoming election will look like. Even basic questions about the mechanics of voting remain unresolved. But for now, the things the tech industry was worried about at the beginning of this year seem like a distant memory.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
France's competition authority ruled on Thursday that Google must pay French publishing companies and news agencies for re-using their content. The U.S. tech firm said it would comply with the French competition authority verdict, which followed a complaint by unions representing French press publishers. "Google's practices caused a serious and immediate harm to the press sector, while the economic situation of publishers and news agencies is otherwise fragile," France's 'Autorite de la Concurrence' said in a statement.
Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG) owned Google has obtained federal clearance to temporarily operate a sub-sea fiber-optic cable between the United States and Taiwan.What Happened Google will be able to run a segment of the Pacific Light Cable Network System, which connects the U.S. to Taiwan. Google's license will last six months and depends on the "final disposition of the license application," according to a statement released by the Department of Justice.Google applied for permission to operate the cable on a temporary basis on April 2, 2020. In a blog published on March 26, Urs Holzle, Senior Vice President for Technical Infrastructure at Google, wrote, "We've designed our network to perform during times of high demand.The same systems we built to handle peaks like the Cyber Monday online shopping surge, or to stream the World Cup finals, support increased traffic as people turn to Google to find news, connect with others, and get work done during this pandemic." Holzle said the company continues to increase capacity "wherever needed."Why It Matters Increased demand resulting from the coronavirus pandemic is exerting pressure on Alphabet's services. YouTube has been made standard definition only, for a period of one month. Outages on the Google Cloud Platform have hit services like Gmail, Snap Inc.'s (NYSE: SNAP) run Snapchat, and others, reported CNBC.Google is not the only company feeling the strain from increased demand made by the stay-at-home public. Others like Netflix Inc. (NASDAQ: NFLX) have cut picture quality to ease pressure on internet providers. Facebook Inc. (NASDAQ: FB) too is facing congestion issues, the company has cut bit rates for videos on its social network and Instagram in India, its biggest market, which is under lockdown, reported Reuters.What Else Stay-At-Home workers have been adopting Google's G Suite, in particular, Google Meet, to stay connected. This has enabled Google to add a million business users in just a month, as of March.Price Action On Wednesday, Alphabet class A shares traded 0.17% higher at $1,209 in the after-hours session. The shares had closed the regular session 2.07% higher at $1,207.The company's class C shares traded 0.34% higher at $1,214.34 in the after-hours session. The shares had closed the regular session 2% higher at $1,210.28.See more from Benzinga * Google G Suite Shows Uptick In Business Users As Meet Use Explodes * WeWork Sues SoftBank After B Share Offer Deal Sours * Pinterest Shares Rise Sharply After Preliminary Q1 Numbers Beat Analyst Projections(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Federal Communications Commission (FCC) on Wednesday approved Alphabet Inc unit Google's request to use part of an U.S.-Asia undersea telecommunications cable after the company warned it would face significantly higher prices to carry traffic by other means. Google agreed to operate a portion of the 8,000-mile Pacific Light Cable Network System between the United States and Taiwan, but not Hong Kong. Google and Facebook Inc helped pay for construction of the now completed telecommunications link but U.S. regulators have blocked its use.
Ghost kitchens have risen up in big, unmarked buildings and vacant retail spaces far from the restaurants they serve.
Google banned its employees from using video calling software from Zoom Video. The move by Google, which also offers video-calling apps of its own, cooled a Zoom stock rally.
(Bloomberg) -- Zoom Chief Executive Officer Eric Yuan pledged that his company will meet the highest security standards, seeking to put millions of new users at ease after numerous security lapses on the video-meeting application.Zoom Video Communications Inc. is launching a feature called Security that sets all privacy settings to their highest level, including putting passwords on meetings and employing waiting rooms that force meeting hosts to filter conference attendees, Yuan said Wednesday on a webinar. The San Jose, California-based company also is planning to roll out upgraded encryption for its video calls and meeting rooms for large webinars. “Zoom is safe compared to peers,” Yuan said. “We are determined to do better and hold ourselves to the highest standard on security and privacy.”Zoom has never sold user data and never will, he said.The security webinar was part of Yuan’s mea culpa campaign to rebuild trust with the more than 200 million users who’ve turned to Zoom amid the Covid-19 pandemic. Zoom was sued by a shareholder Tuesday who alleged the company fraudulently concealed its lack of end-to-end encryption and its data transmissions to Facebook, just one of several lawsuits that have sprouted during the revelations about the software maker’s privacy problems. The steps to bolster security weren’t enough to allay concerns at Google, which is trying to move employees away from Zoom. The Alphabet Inc. company, which has a rival product called Meet, deactivated the Zoom app on its employees’ work computers.“We have long had a policy of not allowing employees to use unapproved apps for work that are outside of our corporate network,” Google spokesman Jose Castaneda said in an emailed statement. “Recently, our security team informed employees using Zoom Desktop Client that it will no longer run on corporate computers as it does not meet our security standards for apps used by our employees. Employees who have been using Zoom to stay in touch with family and friends can continue to do so through a web browser or via mobile.”Google’s policy was reported earlier by Buzzfeed News.Earlier Wednesday, Zoom announced it had hired Facebook Inc.’s former security chief Alex Stamos as an adviser and formed a security council to help guide its next steps. Before its recent surge in popularity, Zoom had focused primarily on corporate communications.“I am attracted to difficult problems, and this creates some doozies,” Stamos, now director at Stanford University’s Internet Observatory, wrote Wednesday in a blog post. “The adaptation of a successful enterprise collaboration tool into virtual classrooms, virtual doctor’s offices and a myriad of other applications (including at least one virtual Cabinet Room) has created privacy, trust and safety challenges that no company has ever faced.”The company, Stamos added, “has some important work to do in core application security, cryptographic design and infrastructure security, and I’m looking forward to working with Zoom’s engineering teams on those projects.”Zoom’s shares had jumped as much as 11% Wednesday before giving back most of those gains on news of Google’s decision. The stock increased 3.6% to $117.81 at the close in New York and has jumped 73% this year.(Updates with Google’s decision to restrict Zoom use for employees in the sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
While most Americans are concerned about the coronavirus, a group of investors is placing bold bets on the leading sector in the stock market, technology stocks. Please click here for a chart showing segmented money flows in 11 popular tech stocks. It is easy to discern from the first chart that even after the recent drop in the stock market, the market is still very high from a long-term perspective.
Competition in the video streaming space is heating up, as established players fight it out with new entrants.Against this backdrop, Netflix Inc (NASDAQ: NFLX) seems to have fortified its position, according to an analyst at Piper Sandler, citing the firm's 39th semi-annual Taking Stock with Teens survey -- a national study of over 5,200 teens.Netflix Leads In Teen Mindshare After ceding the lead to Alphabet Inc's (NASDAQ: GOOGL) (NASDAQ: GOOG) YouTube in the fall 2019 survey, Netflix has regained the lead, with teens spending 33% of their time watching Netflix, analyst Yung Kim said in a Wednesday note. This represents a decline from Netflix's 35% share in the fall 2019 survey, the analyst said. "Overall, we believe Netflix continues to maintain strong teen mind share and attribute the modest dip across the top platforms to the inclusion of the new services," he said. Kim said he's of the view that Netflix is the leader among subscription services that contains massive multiyear growth potential as more content viewing shifts online. See also: How Disney+ Subscribers Compare To Netflix, Amazon Prime And More YouTube Falls Behind YouTube's numbers slid from 37% in the fall 2019 survey to 31%, pushing the Google-owned platform to the second spot, Kim said.Cable and satellite TV, though taking the third position, has seen its share dip from 12% to 11%, the analyst said. New Entrants Make Waves Walt Disney Co's (NYSE: DIS) Disney+ and Apple Inc.'s (NASDAQ: AAPL) Apple TV+, both launched in November 2019, were ranked fifth and seventh, respectively, with teens spending 7% and 2% of their time on the platforms, Kim said. Hulu and Amazon.com, Inc. (NASDAQ: AMZN) stood in the fourth and sixth position respectively, at 8% and 3%."While we recognize investor concern, particularly around Disney+, taking share, we believe the diversity of the Netflix portfolio and the pace of new content gives Netflix an advantage," the analyst said. Piper Sandler sees increasing competition ahead, with AT&T Inc.'s (NYSE: T) HBO Max launch scheduled for May, and unforeseen hurdles. Yet the firm is of the view that the market will support multiple large streaming players, with Netflix leading the way.The Rating Kim maintained an Overweight rating on Netflix with a $400 price target.The Price Action Netflix shares were down 0.69% at $369.71 at the time of publication Wednesday.Alphabet Class A shares were adding 2.31% to $1,209.85. Disney shares were down 0.76% at $100.47. Apple shares were surging 2.47% to $265.85.Amazon shares were up 1.28% at $2,037.44.Related Link: JPMorgan Projects That Netflix Global Paid Subscribers Will Nearly Double By 2024, Driven By International Growth Latest Ratings for NFLX DateFirmActionFromTo Apr 2020Wells FargoMaintainsUnderweight Apr 2020BernsteinMaintainsOutperform Mar 2020BairdUpgradesNeutralOutperform View More Analyst Ratings for NFLX View the Latest Analyst Ratings See more from Benzinga * Apple's iPhone 9 Launch Could Be Imminent * Analyst Says Microsoft Is Relatively Well-Positioned For A Crisis * Apple Analyst Projects 'Multi-Quarter Impact' On iPhone Shipments From COVID-19 Pandemic(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Users can access Stadia by downloading the app on their iOS or Android phones or by signing up on its website. The paid version, Stadia Pro, otherwise costs $9.99 a month and offers access to games such as "GRID" and "Destiny 2: The Collection" in 4K resolution. Google's Stadia, launched https://www.reuters.com/article/us-alphabet-google-stadia/google-enters-gaming-with-cloud-based-streaming-service-stadia-idUSKBN1XT2L2 in November, is expected to compete with Microsoft Corp's upcoming Project xCloud.
(Bloomberg) -- Alphabet Inc.’s Wing unit is seeing a dramatic increase in the number of customers using its drone delivery service in rural Virginia during the Covid-19 pandemic.Wing, which began routine deliveries under a test program approved by the federal government last October, has added new vendors and expanded the items customers can order to better serve people during the epidemic, the company said in a statement Wednesday.“The technology is particularly useful at a time when people are homebound in many cases and the need to limit human-to-human contact is important,” spokesman Jonathan Bass said in an interview.Deliveries have more than doubled in the Christiansburg, Virginia, area where the U.S. test is being conducted and in a similar project in Australia, Bass said.In addition to partnerships with FedEx Corp. and the Walgreens drug-store chain, Wing recently began deliveries from a bakery and a coffee shop.Mockingbird Cafe sold 50% more pastries through Wing’s drones in its first weekend with the company than it typically sold in its store prior to the virus-related business disruptions.Deliveries from Walgreens have included toilet paper, medicine and toothpaste, the company said. They recently added items such as pasta and baby food to meet demands of people staying home.While the payload of Wing’s autonomous drones is limited, orders are fulfilled within minutes, Bass said.The program is being run in the community around Christianburg. Wing is working with nearby Virginia Tech, which has a drone-test program approved by the Federal Aviation Administration.Amazon.com Inc., United Parcel Service Inc. and many smaller companies are also experimenting with the concept of drone deliveries.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The pandemic-economic crisis underscores the necessity for a national broadband policy to reach rural areas, and a more even playing field for the economically disadvantaged who either don’t have access to laptops or Wi-Fi.
Alphabet Inc.'s Google is offering a 60-day free trial of Stadia, its streaming videogame venture. "Video games can be a valuable way to socialize with friends and family when you're stuck at home, so we're giving gamers in 14 countries free access to Stadia for two months. This is starting today and rolling out over the next 48 hours," Phil Harrison, vice president and general manager of Stadia, said in a blog post Wednesday.
In a recent interview with TDAmeritrade Bill Miller said that there have been four great buying opportunities in his adult lifetime. "This is the fifth one,” Miller added. Amazon is an ideal stock to buy during the market’s steep sell-off, value investor Bill Miller said He also said that companies like Facebook (FB), Alphabet (GOOG), […]