|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.7210 - 2.7730|
|52 Week Range||2.1380 - 2.9070|
|Beta (3Y Monthly)||0.68|
|PE Ratio (TTM)||51.35|
|Forward Dividend & Yield||0.12 (4.48%)|
|1y Target Est||N/A|
(Bloomberg Opinion) -- The Washington, D.C., area is already rich and overcrowded, and with the arrival of Amazon.com Inc.’s second headquarters it’s about to get thousands more high-paying jobs. Lots of other metropolitan areas, especially in the middle of the country, are less rich and less crowded. So why not move some good government jobs out of Washington?Cult Democratic presidential candidate Andrew Yang is all for it. From his campaign website: “Federal agencies that aren’t directly tied to general government activities (e.g., the NIH) should be relocated to different areas throughout the country to provide a boost to local economies and tie the rest of the country to the federal government.” Vox.com’s Matthew Yglesias made the same argument in a much-discussed 2016 opinion piece that clearly inspired Yang, given that both recommend that the first agency to move should be the National Institutes of Health, to Cleveland.It’s not just people whose names begin with Y that think this might be a good idea. Moving federal agencies out of Washington has been endorsed by renowned urbanist Richard Florida, proposed in legislation by conservative Ohio Congressman Warren Davidson, and to some extent put into effect in past decades by the late West Virginia Senator Robert Byrd.So why is the U.S. Department of Agriculture getting so much blowback over the decision to move its Economic Research Service and National Institute of Food and Agriculture from Washington to Kansas City? (The Interior Department’s Bureau of Land Management is also moving its headquarters to Colorado, but that involves fewer jobs and has occasioned less protest.)Clearly, some of it has to do with the way the Trump administration has handled things. For example:Employees were given only 30 days to decide whether to move or lose their jobs, with the USDA reversing earlier commitments to give them several months. The USDA claimed that the move would save $300 million over 15 years, but an independent analysis concluded that it would actually increase costs by $83 million to $182 million over that period. The USDA’s inspector general has cautioned that the relocation may be illegal without Congressional approval. White House Office of Management and Budget Director and Acting Chief of Staff Mick Mulvaney has crowed that the real goal of the move was to spur people to quit and thus “streamline government.”Even the best-intended, best-planned agency move would occasion lots of grumbling, though. In the Netherlands, where the government decided in the 1960s that spreading government agencies around the country would be a good way to combat (1) housing shortages in and around The Hague and (2) joblessness in the country’s eastern regions, the process took decades and was accompanied by much protest and backpedaling. The highest-profile move of all, that of the postal and telecom service to Groningen in the country’s northeastern corner, ended up being largely reversed after the agency was privatized (PostNL NV is now headquartered in The Hague and Koninklijke KPN NV, the telco, is in nearby Rotterdam). All this in a country where the spread-the-government plan had the support of all major political parties, and no city is more than three hours by train from The Hague.On the face of it, moving the USDA agencies to Kansas City seems like a good match. The ERS gathers data and publishes reports on crops and other agriculture-related topics, and the National Institute of Agriculture makes research grants. Kansas City is a big, vibrant metropolitan area with lots of well-educated people that’s close to major farming regions and land-grant universities with good agricultural-science departments. It also has a median house price of $227,000, according to the National Association of Realtors, compared with $456,500 for the D.C. area. There are surely lots of talented agricultural economists and grant-making experts who would not find living in Kansas City to be an unbearable hardship. Their spouses and partners do have more good jobs to choose from in the D.C. area, which is one of the factors that has helped concentrate good jobs in a limited number of metropolitan areas in recent decades, but a broad, coordinated government effort to bring more agencies there might help with that.What we’re witnessing now is not a broad, coordinated effort. It’s another slapdash move by an administration that has made bumbling bad faith a trademark. Spreading more government agencies around the country is a policy that could attract bipartisan support and lots of expert assistance. Those are two things that Donald Trump isn’t interested in or capable of attracting, but maybe somebody else could make it work. Your move, President Yang.To contact the author of this story: Justin Fox at email@example.comTo contact the editor responsible for this story: Sarah Green Carmichael at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Justin Fox is a Bloomberg Opinion columnist covering business. He was the editorial director of Harvard Business Review and wrote for Time, Fortune and American Banker. He is the author of “The Myth of the Rational Market.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
KPN reported a 3.6% gain in core profits for the second quarter, despite suffering a major network outage that was followed by news that Chief Executive Officer Maximo Ibarra would be leaving the Dutch telecoms firm in September. The Dutch telecoms market leader suffered a four-hour network outage that knocked out emergency service lines on June 24.
The Dutch government launched an inquiry on Tuesday into a nationwide network outage at telecoms company KPN that knocked out emergency service numbers for nearly four hours, with the company pointing the finger at a software error. Monday's network problem, which rendered national police, ambulance and fire department emergency numbers unreachable, did not appear to be the result of a security breach, KPN said. Justice Minister Ferd Grapperhaus told Dutch lawmakers that during the outage three KPN backup systems had failed, and the government had moved to an "analog" play-book crafted for situations in which digital services failed.
The Dutch government launched an inquiry on Tuesday into a nationwide network outage at telecoms company KPN that knocked out emergency service numbers for nearly four hours, with the company pointing the finger at a software error. Monday's network problem, which rendered national police, ambulance and fire department emergency numbers unreachable, did not appear to be the result of a security breach, KPN said.
The Dutch were given a frightening lesson about society's reliance on technology. A major telecommunications outage knocked Netherland's version of 911 offline for a few hours on Monday, reported Reuters . The outage originated on Royal KPN's network and impacted both landlines and mobile phones. It's unclear what caused the event, though KPN has ruled out a security breach. The network went offline at around 3:45 pm in the Netherlands, and was restored roughly four hours later. Public officials immediately flocked to social media to warn Dutch residents of the outage. In case an emergency hit, people were instructed to go to the nearest hospital or fire station directly rather than call a dispatch operator. Temporary mobile phone numbers were soon given out for emergency services. Police could even be reached by email or Whatsapp. Other emergency services in the country asked residents to reach out to them on Twitter or Facebook.
A nationwide telecommunications outage in the Netherlands knocked police and emergency numbers offline for roughly four hours on Monday before national carrier Royal KPN NV said service was restored. "We have no reason to think it was (a hack) and we monitor our systems 24/7", a KPN spokeswoman said. Anna Posthumus, a spokeswoman at the National Coordinator for Security and Counter-Terrorism, said it is "too early to say" whether there may have been a cyber attack.
U.S. Ambassador Pete Hoekstra said on Wednesday the Dutch government should ban Huawei outright from supplying equipment for a new 5G mobile telecommunications network in the Netherlands if it wants to prevent spying by the Chinese state. Leaders in the Netherlands have not yet taken a position on using Huawei technology ahead of a 5G network auction process due to begin in coming months. Hoekstra made his comments as U.S. Secretary of State Mike Pompeo finished a tour of Western European countries, including Germany and Britain, which have also resisted U.S. calls for an ban after Washington blacklisted Huawei.
Chinese telecoms equipment maker Huawei has a hidden "backdoor" on the network of a major Dutch telecoms firm, making it possible to access customer data, newspaper De Volkskrant said on Thursday, citing unidentified intelligence sources. The newspaper said Dutch intelligence agency AIVD was looking into whether the situation had enabled spying by the Chinese government. In a statement, Huawei said it was "surprised" by the Volkskrant report and that it would not respond to its core allegations because they came from anonymous sources.
Dutch telecom firm Royal KPN NV said on Friday it would select a Western supplier to build its core 5G mobile network, making it one of the first European operators to make clear it would not pick China's Huawei for such work. The United States has been seeking to discourage its allies from using equipment made by Huawei because of concerns that it could be used for spying by the Chinese government. Huawei says such worries are baseless and U.S. policy is driven by economic interests.
AMSTERDAM (Reuters) - Dutch telecom company KPN will strip out equipment made by China's Huawei from its existing core mobile telecommunications network at the same time as it upgrades to 5G technology, ...
The Dutch government on Monday said it had established a special task force to weigh potential security risks as it prepares to build a 5G telecommunications network. The announcement came after Dutch Prime Minister Mark Rutte on Friday said his government was still exploring options for 5G and had not yet formed an opinion on the possible role of Chinese companies. The United States has lobbied Europe to shut out China's Huawei from such projects, saying its equipment could be used by the Chinese government for espionage.
Announcement: Moody's announces completion of a periodic review of ratings of Koninklijke KPN N.V. Madrid, March 14, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Koninklijke KPN N.V. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
AMSTERDAM (Reuters) - The Dutch government submitted a law to parliament on Tuesday that would enable it to block takeovers of telecom companies if they were deemed a threat to national security. The law ...
KPN shares jumped the most since 2013. Canada’s largest alternative asset manager is holding exploratory talks with Dutch pension funds PGGM and APG Groep NV about partnering on a potential bid for KPN, said the people, who asked not to be identified because the matter isn’t public. The company had a market value of about 10.6 billion euros ($12.2 billion) on Wednesday, before Brookfield’s deliberations were reported.
Luxury stocks were a silver lining for European markets on Wednesday after strong results from LVMH reassured investors, while looming U.S.-China trade talks kept trading muted and some earnings disappointments weighed. Europe's STOXX 600 traded sideways before closing up 0.25 percent and was on track for its best monthly performance since October 2015. France's LVMH shares jumped 6.7 percent after upbeat results from the luxury conglomerate, which said it was "cautiously" confident as fourth-quarter sales held up despite fears of a China slowdown.