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Google has inked a deal with India’s third-largest telecom operator as the American giant looks to grow its cloud customer base in the key overseas market that is increasingly emerging as a new cloud battleground for AWS and Microsoft . Google Cloud announced on Monday that the new partnership, effective starting today, enables Airtel to offer G Suite to small and medium-sized businesses as part of the telco’s ICT portfolio. Airtel, which has amassed over 325 million subscribers in India, said it currently serves 2,500 large businesses and over 500,000 small and medium-sized businesses and startups in the country.
Futures: Earnings season is the the next test for the hot stock market rally. Netflix and Texas Instruments earnings are due Tuesday night.
Where is this stock market head in the coming days and weeks? That is the trillion-dollar question some nervous strategists, analysts and traders are wrestling with, following a relatively brisk rally for equities to kick off 2020.
A Philadelphia judge slashes J&J's (JNJ) punitive damages in a lawsuit, which claims that the company did not warm men that they could grow breasts by using its antipsychotic drug, Risperdal.
STMicroelectronics' (STM) Q4 results are likely to gain from robust products & solid execution. Uncertainty in some of the end-markets served and the ongoing U.S.-China trade war remain concerns.
Percentage of Americans aged 65 and above will climb to 21% by 2030 from 15% in 2018. In fact, the number of Americans aged more than 60 have already tripled since 1950.
Everyone knows that the global corporate tax system needs to be overhauled, Apple Chief Executive Tim Cook said on Monday, backing changes to global rules that are currently under consideration. The growth of internet giants such as Apple has pushed international tax rules to the limit, prompting the Organisation for Economic Cooperation and Development (OECD) to pursue global reforms over where multinational firms should be taxed. The reforms being examined centre around the booking of profits by multinational firms in low-tax countries such as Ireland where they have bases - and where Cook was speaking on Monday - rather than where most of their customers are.
Sundar Pichai, the CEO of Google-owner Alphabet, urged regulators on Monday to take a "proportionate approach" when drafting rules for artificial intelligence (AI), days before the European Commission is due to publish proposals on the issue. Regulators are grappling with ways to govern AI, aiming to encourage innovation while curbing potential misuse, as companies and law enforcement agencies increasingly adopt the technology. Pichai said there was no question AI needs to be regulated, but that rulemakers should tread carefully.
AT&T stock topped the S&P 500 in 2019, but Tocqueville Asset Management sees even more upside, buying more than a quarter million more shares in aggregate in the fourth quarter. Apple, Microsoft and Amazon are “much less contrarian” now.
Google hopes that one day it might be able to save your life. Google’s broader health mission was outlined at a conference in San Francisco earlier this month, where its top doctor set out to show why the company may be the most ambitious of the many trying to use technology to transform healthcare. “We have 10 companies with 1bn users and five with 5bn or some insane numbers,” said David Feinberg.
(Bloomberg) -- Alphabet Inc.’s chief executive officer urged the U.S. and European Union to coordinate regulatory approaches on artificial intelligence, calling their alignment “critical.”In a rare public speech in Brussels at an event hosted byEuropean economic think tank Bruegel on Monday, Sundar Pichai, who is also CEO of Google, said “there is no question in my mind that artificial intelligence needs to be regulated,” but that “we don’t have to start from scratch” with entirely new rules in some cases.The comments come weeks before the EU is set to unveil its plans to legislate the technology, which could include new legally binding requirements for AI developers in “high-risk sectors,” such as healthcare and transport, according to an early draft obtained by Bloomberg. The new rules could require companies to be transparent about how they build their systems.While in Brussels, Pichai is also due to meet with Margrethe Vestager, the competition chief responsible for more than 8 billion euros ($8.9 billion) of antitrust fines levied against Google. In addition to competition, she now also oversees the bloc’s digital policies, including the plans to legislate AI.Alphabet has battled intense regulatory pressure in Europe for years. The search giant is challenging the EU’s multi-billion-dollar antitrust fines and has sought to fight off copyright and other forms of platform regulation emanating from Brussels in recent years.The Google chief cautiously welcomed plans for rules that take “a proportionate approach, balancing potential harms with social opportunities.”Facial recognition technology and so-called deep fakes-- or manipulated audio and video clips -- are two areas where AI could be used destructively, and companies have a responsibility “to get this right,” Pichai said. He said Google has released open datasets to help researchers build better tools to detect fakes and that it has chosen not to offer general-purpose facial recognition application programming interfaces.Pichai touted the company’s recent developments in AI, including a Google Health algorithm that can spot breast cancer more accurately than doctors and other research for accurately predicting the weather as well as advancements by its self-driving car unit, Waymo.The Google chief said existing rules like Europe’s privacy legislation GDPR and regulation for medical devices like AI-assisted heart monitors would serve as strong foundations for governing AI in some areas, but that for self-driving cars, governments would need to establish regulations.But Google has also come under intense criticism over how it handles users’ privacy with some of its AI projects. Google faces a U.S. federal inquiry after the Wall Street Journal in November reported how it collects the health-care data from millions of Americans to design new AI software. It’s also facing scrutiny over the methods it uses for training algorithms that run Google Assistant.To contact the reporter on this story: Natalia Drozdiak in Brussels at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Amy ThomsonFor 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.
BT , Danone , Microsoft and Sony are among 178 companies with top marks in the latest global ranking of transparency and action on climate change. Japan and the U.S. were the countries with the headquarters of the most 'A List' companies individually, while regionally, Europe as a bloc was home to the highest number. Companies are coming under pressure from customers and investors to step up efforts to help slow climate change in accordance with the 2015 Paris climate agreement to phase out greenhouse gas emissions by shifting away from fossil fuels.
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Emmanuel Macron’s pre-Davos summit for tech executives will hold some goodies for startups.In the third edition of his “Choose France” summit on Monday, timed to catch global CEOs in Paris on their way to the Swiss Alps’ World Economic Forum, the French president will detail measures in his 2020 budget that have improved stock options for startups in France.Macron will also plug a revamped visa regime that will give fast-track papers to tech workers for French or foreign companies and a new benchmark index, the French Tech 120, to promote the nation’s most promising ventures.Snap’s Evan Spiegel, who was given French nationality in 2018, EU digital Commissioner Thierry Breton, Netflix Inc.‘s Reed Hastings, Google’s You Tube CEO Susan Wojcicki, Lime’s Joe Kraus and other leaders from Mexico, Nigeria, Sweden, Turkey and the U.K. will attend the forum in Versailles.Entrepreneurs and executives at some of Europe’s most successful technology startups have been urging local governments to change laws to make employee stock options more attractive, in order to better compete with Silicon Valley. Macron, his Prime Minister Edouard Philippe, Digital Minister Cedric O and 17 ministers will present the government’s latest measures.In November 2018, about 30 chief executives of companies including iZettle AB, Funding Circle Ltd., Supercell Oy, TransferWise Ltd., Blablacar and U.S.-based Stripe Inc., signed an open letter saying a patchwork of different rules in various European countries makes it complicated and costly for employers to dole out stock options.The French 2020 budget law, voted late last year and enacted on Jan. 1, has two major measures already to make stock options of startups more attractive. First the conditions of the so-called BSPCE, an employee shareholding tool equivalent to a stock options, have been sweetened: they will get a discount compared to the price investors paid at the last fund raising.Also, employees of foreign startups with a base in France will be able to get stock options calculated on the parent company’s performance, not just the French branch, minister Cedric O unveiled in a statement late last year, as he said France seeks to attract more tech workers and companies.“What France has done is fantastic, but we really need a pan-European solution,” Martin Mignot, Partner at Index Ventures, which has stakes in BlablaCar, told Bloomberg. “Currently, startups face the same problems every time they expand into a new country. Talk to any entrepreneur and they tell you it’s madness, it is slowing them down and it is putting them at a disadvantage to large companies.”Macron has attempted to lure more investors to France ever since his years as an economy minister in 2014, via taxes, visas, benchmark indexes, bilingual schools and the French way to welcome new comers.In September he created the “Next 40,” a listing of France’s top 40 startups with the strongest growth potential. While only a few of them are currently “unicorns,” with values topping $1 billion, the government said it expect more of them to scale.Read more: Napoleon, Chateaus on Display as France Seeks Venture CapitalOne of the key measures taken by Macron was a 30% flat tax on capital revenues from securities, savings, capital gains, and other sources. That measure got him into trouble with some of his citizens protesting against inequalities in the Yellow Vests movement that started in December 2018.The statistic institute Insee said the increase in inequality in 2018 was linked to a sharp rise in investment incomes, which benefited from the introduction of a flat tax the same year.Still, Macron has also toughened his stance on issues like taxes and privacy. He brought it up with Apple Inc. CEO Tim Cook in his first months as president and repeatedly to Facebook founder Mark Zuckerberg. Macron is currently in a tug of war with U.S. President Donald Trump over his tax on digital giants.Amazon.com Inc., like other tech companies, will make their first payment of France’s new tax on digital giants in a few weeks. The government enacted a 3% levy on large tech groups that is retroactively effective from Jan. 1, 2019.(Updated with comment from Index ventures)\--With assistance from Natalia Drozdiak.To contact the reporter on this story: Helene Fouquet in Paris at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Vidya RootFor 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.
French economy minister Bruno Le Maire said he hoped to resolve a row with the United States over a planned French digital tax by Wednesday evening of this week. "We hope to reach a resolution by Wednesday," Le Maire told LCI television on Monday, adding he would meet U.S. counterparts at the Davos forum this week. France decided in July to apply a 3% levy on revenue from digital services earned in France by firms with revenues of more than 25 million euros ($28 million) in France and 750 million euros worldwide.
(Bloomberg) -- Samsung Electronics Co. has appointed Taemoon Roh the head of its smartphone division, tasking a veteran executive with oversight of the world’s largest mobile devices business.Roh, who was formerly the unit’s No. 2 executive, will take over the top job from Koh Dong-Jin from Monday. Koh remains head of the Korean conglomerate’s IT and mobile communications division but hands the reins of smartphones over to a lieutenant credited with building up the marquee Galaxy line of smartphones and tablets. Roh, a two-decade veteran of Korea’s largest corporation, is regarded internally as an engineering maven who’s meticulous about phone features.Samsung’s shares climbed as much as 2.5% in Seoul. The largest maker of mobile phones, displays and memory chips shakes up its executive ranks each year, with the extent of the changes often correlated to how its businesses are doing. This month, the company reported preliminary earnings that showed operating income declining by about a third from a year earlier.Korea’s largest company is racing to secure an early lead in fifth-generation wireless smartphones as well as foldables, both of which will take centerstage during its annual Unpacked event in San Francisco in February. While it still sells more devices than any other brand, Samsung in recent years has come under assault from both long-time adversary Apple Inc. as well as new rivals from Huawei Technologies Co. to fellow Chinese names Oppo and Vivo.“Roh is known to be a person who expanded Samsung’s original design manufacturing policy for low- to mid-range smartphones,” said CIMB analyst Lee Dohoon. “Samsung may now gradually follow Apple in focusing on design and developments. Though it’s expanded outsourcing for production, Samsung will keep a tighter rein on quality control to protect its brands.”The Korean tech giant will try to keep expanding its market share in Asia and Europe this year while closest rival Huawei is struggling to protect its market share in the wake of Trump administration sanctions, Lee added.Read more: Samsung Profit Beats After Chip Prices Stage Comeback Samsung said Roh is taking the division’s helm at 52, using the Korean method of calculating age, although he was born in Sept. 1968 and would be 51 by a Western count.Regardless, that means he’ll be orchestrating things when Samsung unveils on Feb. 11 what’s expected to be a second foldable device that folds into a square. The company’s mainstream flagship device -- whose name is rumored to be the Galaxy S20, a change in naming scheme -- is also likely to be unveiled at that event.Its devices accounted for 54% of the global 5G smartphone market as of November 2019, after it shipped more than 6.7 million Galaxy 5G smartphones last year, the company has said. Separately, Huawei said last week that it shipped more than 6.9 million 5G phones in 2019.Roh will also assume responsibility for repairing the mobile division’s reputation. Under Koh’s leadership, Samsung suffered from major quality issues at least twice: In 2016, Samsung killed off the Note 7 for good after models tended to burst into flames. Last year, Samsung also had to delay the Galaxy Fold by several months after review models exhibited issues with displays that were easily peeled off. Those debacles were widely seen as a result of the company’s rushing phones to market to try and steal a march on Apple and Huawei.Away from smartphones, the chiefs of three key Samsung divisions -- semiconductors, consumer appliances and electronics and IT services -- remained the same. That ensures stability given vice chairman and heir apparent Jay Y. Lee is defending himself in court over graft allegations, raising the possibility of a potential leadership vacuum.Samsung also promoted several presidents in its latest restructuring including Kyungwhoon Cheun, who now heads networking.Read more: Behind Samsung’s $116 Billion Bid for Chip Supremacy(Updates with Roh’s age in the seventh paragraph)To contact the reporter on this story: Sohee Kim in Seoul at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Edwin Chan, Colum MurphyFor 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.
This is the first time the internet search giant has joined the $1 trillion pantheon and that's good news not only for investors in the stock, but for those holding some of the nearly 170 exchange traded funds that own the stock. Some well-known ETFs are also big Alphabet holders.
Built on top of data collected by SAP analytics cloud and resembling an air-traffic control room, the team’s Executive Huddle service is housed in a suite at Levi’s amid popcorn, drinks, and assorted snacks.