Tech and energy are teaming up, creating a market that could grow 500% in the next 5 years

“They [energy companies] are realizing that they’re not IT companies. Against this backdrop, energy giants are leaning on tech companies to help them make operations cleaner and safer. If tech’s involvement helps to boost energy companies’ ESG ratings, it could come at the expense of the tech companies’ ratings. Some argue that since the world is still dependent on fossil fuels, tech companies should help oil and gas companies be as energy-efficient as possible. But still, the tech companies hav


“They [energy companies] are realizing that they’re not IT companies.
Against this backdrop, energy giants are leaning on tech companies to help them make operations cleaner and safer.
If tech’s involvement helps to boost energy companies’ ESG ratings, it could come at the expense of the tech companies’ ratings.
Some argue that since the world is still dependent on fossil fuels, tech companies should help oil and gas companies be as energy-efficient as possible.
But still, the tech companies hav
Tech and energy are teaming up, creating a market that could grow 500% in the next 5 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-22  Authors: pippa stevens
Keywords: news, cnbc, companies, digital, 500, industry, energy, companies, oil, creating, teaming, gas, services, grow, market, tech, data


Tech and energy are teaming up, creating a market that could grow 500% in the next 5 years

As the energy industry faces a time of reckoning — pressured by consistently low oil prices, high operating costs and a growing sustainable investing movement — oil and gas companies are increasingly turning to Silicon Valley for help streamlining operations and boosting efficiencies. By some estimates, the addressable market for digital oil and gas solutions could grow 500% over the next five to six years, saving oil producers roughly $150 billion, while creating an ever-larger market for tech companies in the highly competitive — and high margin — business of cloud computing.

Opportunities for savings include cutting capital expenditures as well as selling, general and administrative operating costs and transportation operating costs. “The digital age is finally dawning for Oil & Gas … We see a market poised to erupt over the next five years,” Barclays said in January in a note to clients. “The last 12 months has seen a dramatic shift in adoption, with numerous announcements of cloud and digital-platform partnerships that we think are just early signs of things to come,” the firm added. In the last year, Microsoft has announced partnerships with Exxon and Chevron, among others, while in May Google parent company Alphabet renewed and significantly expanded its partnership with Schlumberger. Amazon Web Services offers digital services to the industry through its oil and gas division, and counts BP and Shell among its clients. Energy giants have, of course, been using tech companies’ enterprise software for years, and oil and gas companies’ highly complex operating systems — including precise drilling techniques and rig management operations — have depended on sophisticated data-based decision making for decades. But oil companies were traditionally somewhat reluctant to hand over their treasure troves of valuable data thanks to cyber security concerns and wanting to maintain competitive advantages, among other things. This meant that for the most part software was developed in-house or by companies within the oilfield services sector.

Amazon Web Services at the 2019 CERAWeek in Houston, TX. Mary Catherine Wellons | CNBC

Now, however, driven by lackluster returns in the energy space and rapid advancements in the tech sector, the two sectors are increasingly coming together, creating partnerships between two industries that in other ways are very much at odds with one another. “The magnitude of the capacity for processing and storage makes it possible to do things we didn’t dream of within the industry,” said John Gibson, Flotek chairman and CEO and former chairman of energy technologies for energy investment bank Tudor, Pickering, Holt & Co. “The whole industry needs an uplift in performance, profitability and free cash flow, so working together with the data to improve industry performance has become a mandate … We need the tide to rise for everybody,” he added.

Why now?

A number of factors are driving the transition, including years of lagging returns in the energy sector. As recently as six years ago, when oil fetched more than $100 per barrel, producers’ costs weren’t looked at under a microscope. U.S. West Texas Intermediate began a downward trajectory in 2014 and while prices have rebounded from the extreme lows of 2016, WTI remains far from its prior highs, meaning oil and gas companies have had to adapt.

“The oil business here [North America] has gone from gold rush to austerity in a very short period of time,” Shaia Hosseinzadeh, founder of energy-focused private equity firm OnyxPoint Global Management, said. “In this new world, there are a lot of demands being placed on the oil industry. … The entire ecosystem is being asked to do more with less.” Energy’s continued underperformance — it now accounts for less than 4% of the S&P 500, compared to more than 11% in 2010 — has coincided with major advancements in the tech space, including rapid iterations in areas like machine learning and data processing. At the same time, widescale adoption has led to steep cost declines for things like data storage. Tech companies can harness insights from applications refined and tested across sectors. It’s difficult — if not impossible — for individual companies to fully replicate what they offer. In other words, partnerships where applications and technologies are co-developed can be the only choice. “They [energy companies] are realizing that they’re not IT companies. They’re not software developers, but they are users of it,” IHS Markit director Carolyn Seto said to CNBC. “They are partnering with these [tech] companies to be able to gain access to these new technologies, as opposed to taking the development costs themselves of building out capabilities within their organization.” Reid Morrison, oil and gas advisory leader at PwC, noted that as oil prices rebounded from 2016 lows it also created an opportunity for energy companies to advance these technologies from proof-of-concept to actually moving them into the mainstream where they can hit the companies’ bottom line. Barclays also made this point, noting that “value creation over the next five years hinges on scalability as Digital moves beyond discrete applications to organization-wide implementation.”

Biggest beneficiaries

As big oil looks to data services and cloud computing to help its performance and profitability, companies that provide these services could be in for a big payday. Barclays estimates that the digital services market could grow to $30 billion annually over the next five years, from less than $5 billion today, with the potential market for cloud providers also growing to $30 billion annually. Given the potential size, tech companies are vying for market share. Raymond James analyst Pavel Molchanov said in a 2019 note to clients that while the cost savings might not be all that pronounced for energy companies, “the sale of these products and services – to energy and other verticals, taken in aggregate — can be quite needle-moving for technology providers.”

“There is an enormous opportunity to bring the latest cloud and AI technology to the energy sector and accelerate the industry’s digital transformation,” Microsoft CEO Satya Nadella said in a statement in June while announcing the company’s three-party collaboration with Schlumberger and Chevron. On the energy side, Barclays estimates that greater efficiencies will save producers roughly $150 billion annually, which translates to shaving $3 per barrel from the production price of oil. Besides the oil producers themselves, Barclays said there’s a “golden opportunity” for oilfield services companies like Schlumberger, Halliburton and Baker Hughes to “regain relevancy.” These companies have deep industry experience, and also have their own digital offerings. The firm said that in the near-term Schlumberger is best-positioned, but that Baker Hughes “may have the greatest upside of all.” The firm noted that these numbers are just estimates since it’s difficult to quantify given the secrecy surrounding the field. Longer term, technological advancements will also be a way for energy companies to stand out in a cutthroat industry, said Rebecca Fitz, senior director at BCG’s Center for Energy Impact. “In an unhelpful oil price environment, companies could competitively differentiate themselves by growing their margins more than their peers. And that’s where technology becomes interesting.”

The ESG factor

For obvious reasons, oil and gas companies are particularly vulnerable to the growing ESG movement, which is when environmental, social and governance factors are prioritized when making investing decisions. Against this backdrop, energy giants are leaning on tech companies to help them make operations cleaner and safer.

Remotely monitoring operations can help companies quickly identify leaks and therefore mitigate the environmental impact, for example. This also means that fewer personnel are exposed to dangerous conditions. Additionally, the very act of moving data to the cloud means that oil and gas companies can reduce the number of energy-intensive data centers needed. If tech’s involvement helps to boost energy companies’ ESG ratings, it could come at the expense of the tech companies’ ratings. Some argue that since the world is still dependent on fossil fuels, tech companies should help oil and gas companies be as energy-efficient as possible. Others say that making the industry more cost-effective will delay the widespread adoption of renewable energy. When Exxon and Microsoft announced their partnership last February, the oil giant said it could lead to an additional 50,000 oil-equivalent barrels of production per day in the Permian by 2025, generating “billions of dollars in value over the next decade.” Amazon and Microsoft have recently unveiled ambitious plans to become carbon neutral and carbon negative, respectively, and relying on power generated from renewable sources is just one of the ways in which they’ve sought to make their operations more environmentally friendly. But still, the tech companies have faced backlash — most notably, perhaps, from employees — for their involvement in the oil and gas industry.

What happens next?


Company: cnbc, Activity: cnbc, Date: 2020-02-22  Authors: pippa stevens
Keywords: news, cnbc, companies, digital, 500, industry, energy, companies, oil, creating, teaming, gas, services, grow, market, tech, data


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The biggest misconception about diversity and inclusion at work, according to a leader at the No. 1-ranked employer for diversity

Judith Williams is leading the way in a new era of diversity and inclusion. For Williams, the recognition comes at a critical time when the tide is turning in the world of D&I. “We used to have to say to leaders, ‘Hey, can we show you diversity data? Meanwhile, a majority of today’s young workers say they place great importance on gender and ethnic diversity when considering a potential employer, according to Deloitte’s 2019 Millennial Survey. Williams is especially proud of the work she’s done


Judith Williams is leading the way in a new era of diversity and inclusion.
For Williams, the recognition comes at a critical time when the tide is turning in the world of D&I.
“We used to have to say to leaders, ‘Hey, can we show you diversity data?
Meanwhile, a majority of today’s young workers say they place great importance on gender and ethnic diversity when considering a potential employer, according to Deloitte’s 2019 Millennial Survey.
Williams is especially proud of the work she’s done
The biggest misconception about diversity and inclusion at work, according to a leader at the No. 1-ranked employer for diversity Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: jennifer liu
Keywords: news, cnbc, companies, saps, workers, company, conversation, leader, employer, according, 1ranked, inclusion, sap, data, biggest, misconception, work, williams, program, diversity


The biggest misconception about diversity and inclusion at work, according to a leader at the No. 1-ranked employer for diversity

Judith Williams is leading the way in a new era of diversity and inclusion. After years of trailblazing efforts for diversity and inclusion, often shortened to D&I, at tech giants including Google and Dropbox, Williams joined enterprise software company SAP as head of people sustainability and chief D&I officer in 2018. SAP, which has been acknowledged for its efforts to recruit and promote a diverse workforce, was recently named by Forbes as the best employer for diversity in 2020. For Williams, the recognition comes at a critical time when the tide is turning in the world of D&I. First, there was a need for access to data in order to show a lack of diverse representation in the work force, particularly in the tech industry. “When I think about starting at Google, a lot of what we were doing was getting the attention of leaders,” Williams tells CNBC Make It about her time as Google’s global D&I program manager from 2011 to 2015. “We used to have to say to leaders, ‘Hey, can we show you diversity data? Can we have a conversation about what’s going on in the organization and outside Google?’ “Now, we find the conversation has gone beyond that,” Williams says. “If you’re not considering some questions about diversity and inclusion in your organization, some folks on your team will ask about it, the marketers will ask about it, the analysts will ask about it. It’s become a different kind of conversation.”

The turning point in diversity and inclusion

Today, the conversation is less about proving that lack of representation at work is a concern — more often, the public is holding companies accountable for remedying it. For example, a 2018 study by the National Urban League found that fewer than 3% of tech workers identify as black at companies such as Uber, Twitter, Google and Facebook. Meanwhile, a majority of today’s young workers say they place great importance on gender and ethnic diversity when considering a potential employer, according to Deloitte’s 2019 Millennial Survey. Williams’s work involves shifting that conversation from awareness to action. Action doesn’t necessarily mean more programming, however. “We often get fixated on: Are you launching an unconscious bias training? Are you launching a mentorship program? Are there employee network groups having events celebrating Black History Month?” Williams says. “And all that stuff brings the attention of workers. But once you have that attention, it’s the hard work of having to change culture.” Changing the culture at a company with 100,330 global employees, just a quarter of whom are based in North America, is no easy feat. For Williams’s part, she tackles the issue like any business problem. And like in other parts of her job, it starts and ends with data. The numbers inform her strategy, set expectations, establish accountability and, ultimately, measure results. “At the end of the day, I know having a more diverse and inclusive workforce is going to lead to some financial outcomes. So you want to be consistently driving toward those outcomes. Focus on outcomes, not activity,” Williams says.

What an outcomes-based strategy looks like

Williams admits that when joined SAP, the culture was still very much focused on programming. It’s been her job for the last year and a half to shift that conversation to an outcomes-based strategy. That goes for every stage of the talent pipeline, from recruiting to rewarding and promoting. For example, SAP’s Project Propel is a partnership where the company teaches its software to undergraduate and MBA students at Historically Black Colleges and Universities, who can use these learned skills to leverage career opportunities with the company or one of its partners after graduation. Women hold roughly 26% of management positions at SAP, and the company aims to reach 30% by 2022. To get there, the company is using data to determine where workers, especially women, might be experiencing progression gaps and career stalls. More transparent discussions between workers and leaders can help under-recognized top performers advance more quickly. Ultimately, SAP hopes to achieve the same promotion ratio for men and women. Williams is especially proud of the work she’s done with SAP’s Autism at Work program, which launched in 2013 and aims to recruit and train workers on the autism spectrum. About half of professionals who take part in SAP’s six-week pre-employment training program end up with with a paid position at the company. In 2019, the program made the most number of hires from the program in a single year, bringing SAP’s global workforce of employees with autism to more than 175 workers. “How we think about our Autism at Work program is that there isn’t any specific job that people who come into the program are expected to take on,” Williams says, “but we remove the barrier so they can show their true capabilities to shine in any job.”

Harnessing data to change the world


Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: jennifer liu
Keywords: news, cnbc, companies, saps, workers, company, conversation, leader, employer, according, 1ranked, inclusion, sap, data, biggest, misconception, work, williams, program, diversity


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5 steps to take if you suspect you were affected by the MGM resort data breach

The data, which was obtained during a July 2019 leak, was published on a hacking forum on Monday and verified by ZDNet and Under the Breach, a soon-to-launch data breach monitoring service. This is not the first time a hotel chain has been involved in a data breach. Beyond monitoring your accounts, here’s a rundown of the steps you can take in response to this latest data breach. Change your passwordsThe MGM data released this week was part of a previously reported leak. Roughly eight out of 10


The data, which was obtained during a July 2019 leak, was published on a hacking forum on Monday and verified by ZDNet and Under the Breach, a soon-to-launch data breach monitoring service.
This is not the first time a hotel chain has been involved in a data breach.
Beyond monitoring your accounts, here’s a rundown of the steps you can take in response to this latest data breach.
Change your passwordsThe MGM data released this week was part of a previously reported leak.
Roughly eight out of 10
5 steps to take if you suspect you were affected by the MGM resort data breach Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-20  Authors: megan leonhardt
Keywords: news, cnbc, companies, emails, consumers, steps, data, suspect, breaches, resort, information, monitoring, email, credit, affected, mgm, breach


5 steps to take if you suspect you were affected by the MGM resort data breach

The personal data of approximately 10.6 million consumers who stayed at MGM resorts appeared online this week, ranging from home addresses and contact information to driver’s licenses and passport numbers in some cases. The data, which was obtained during a July 2019 leak, was published on a hacking forum on Monday and verified by ZDNet and Under the Breach, a soon-to-launch data breach monitoring service. The file contained personal details including full names, birthdates, addresses, email addresses and phone numbers. For about 1,300 individuals, more sensitive data such as driver’s licenses, passports or military ID cards, was found online. It’s not surprising that a hotel company was involved in a data breach, says Emily Wilson, vice president of research at the digital risk protection provider Terbium Labs. “The hospitality industry sits on a hotbed of valuable data that meets at a critical intersection of personal details, financial information and physical safety – travel data, companions and patterns of behavior.” This is not the first time a hotel chain has been involved in a data breach. In 2018, Marriott hotels reported a data hack involving 300 million people who stayed at Starwood hotels. Unfortunately, there may not be a lot individuals can do to completely protect themselves in response. “Breaches like the one impacting MGM are often difficult for consumers to respond to,” Daniel Smith, head of security research at Radware, tells CNBC Make It. There’s no “easy fix,” he says. “In the MGM event, the only information you could change would be your phone number and email address,” he says, noting victims are unlikely to sell their house because their address was exposed. Beyond monitoring your accounts, here’s a rundown of the steps you can take in response to this latest data breach.

To freeze or not to freeze your credit?

1. Change your passwords

The MGM data released this week was part of a previously reported leak. The company notified customers last August after it “discovered unauthorized access to a cloud server that contained a limited amount of information for certain previous guests of MGM Resort,” according to a statement to CNBC Make It. MGM did not disclose which locations were affected. Since the breach, MGM tells CNBC Make It that the company has “strengthened and enhanced the security of our network to prevent this from happening again.”

Go back through your emails to check to see if you’ve been affected or contact MGM. Even if you’re not sure if your information was involved, it’s a good idea to change any passwords associated with your MGM Resort bookings, as well as any bank or credit card accounts used to make reservations. In fact, you should always be changing your passwords regularly. Almost half of Americans, 47%, use the same passwords over and over again, according to PCI Pal. This can cause problems in a data breach: Only one account may be compromised, but if you’ve used that same password in several places, you’ll need to change all of them. Look into using a password manager such as LastPass or Dashlane. These programs will automatically generate unique, secure passwords for all your accounts and remember them for you.

2. If you don’t already have it, set up credit monitoring

Consumers should check their credit report on a regular basis. Unlike a simple credit score, your entire credit report provides a comprehensive look at your credit history and activity. You can get a free copy of your report once a year from each of the three major credit bureaus: Equifax, Experian and Transunion. You can also set up a free monitoring service through sites like Credit Karma, which will send you alert emails about any recent activity on your TransUnion or Equifax credit reports. In addition to setting up your own monitoring, you may also be eligible for free credit monitoring if you were affected by the massive Yahoo data breaches. The company has entered into $117.5 million settlement that offers this service to those affected. Consumers should also use a service like haveibeenpwned.com to track if and when their data is leaked, says Jerry Gamblin, principal security engineer at Kenna Security. Roughly eight out of 10 emails released as part of the MGM data breach were already in the haveibeenpwned databases from other hacks.

3. Practice good cybersecurity habits

To protect your data year-round, experts recommend that consumers practice common safeguards, such as avoiding clicking on links or opening attachments in emails, especially when you don’t know the sender. Emails are a particularly common way for fraudsters to gain access to your credit card information or identity. Hackers send what’s called a phishing email. “Email is the No. 1 way cybercrime of all forms happens. If a bad guy can get you to click on a link in an email, he can do all manner of bad things to your online life,” says Dave Baggett, co-founder and CEO of anti-phishing start-up Inky. Consumers should use two-factor authentication to log into their accounts, which generally requires users to not only enter a password, but also confirm their identity by logging onto their phone or entering a code texted or emailed to them.

4. Keep a record of your response

Last year, there were 1,473 data breaches reported, according to the Identity Theft Resource Center. That’s a 17% increase from the total number of breaches reported in 2018. Each one of those hacks could lead to class-action lawsuits and investigations by regulators, like in the case of Equifax. While not all data breaches will result in a settlement, it’s good to be prepared. Consumers should take breach notifications seriously and document what they do in response, Charity Lacey, VP of communications at ITRC, tells CNBC Make It.

The Identity Theft Center’s ID Theft Help app has a case log manager tool that can help you track any actions you take in response to a breach.

5. Stay alert


Company: cnbc, Activity: cnbc, Date: 2020-02-20  Authors: megan leonhardt
Keywords: news, cnbc, companies, emails, consumers, steps, data, suspect, breaches, resort, information, monitoring, email, credit, affected, mgm, breach


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Treasury yields tick lower as investors await economic data, auctions

U.S. government debt prices were higher Thursday morning, as investors awaited economic data and Treasury auctions. ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.5576%, while the yield on the 30-year Treasury bond was lower at around 2.0049%. Market focus is largely attuned to the coronavirus outbreak, as investors continue to assess the potential economic impact of the deadly pneumonia-like virus. On the data front, the latest weekly jobless clai


U.S. government debt prices were higher Thursday morning, as investors awaited economic data and Treasury auctions.
ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.5576%, while the yield on the 30-year Treasury bond was lower at around 2.0049%.
Market focus is largely attuned to the coronavirus outbreak, as investors continue to assess the potential economic impact of the deadly pneumonia-like virus.
On the data front, the latest weekly jobless clai
Treasury yields tick lower as investors await economic data, auctions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-20  Authors: sam meredith
Keywords: news, cnbc, companies, latest, tick, billion, yields, fed, auctions, investors, lower, await, coronavirus, economic, treasury, data


Treasury yields tick lower as investors await economic data, auctions

U.S. government debt prices were higher Thursday morning, as investors awaited economic data and Treasury auctions.

At 2:45 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.5576%, while the yield on the 30-year Treasury bond was lower at around 2.0049%.

Market focus is largely attuned to the coronavirus outbreak, as investors continue to assess the potential economic impact of the deadly pneumonia-like virus.

China’s National Health Commission reported Thursday that 74,576 cases of the coronavirus had been confirmed, with 2,118 deaths on the mainland.

On Wednesday, the latest meeting minutes from the Federal Reserve showed officials at the U.S. central bank had identified the coronavirus as a “new risk to global growth.”

Central bank policymakers also warned that if the coronavirus continued to spread, it could hit what appeared to be an improving growth picture in China.

Richmond Fed President Tom Barkin will comment on the world’s largest economy at an event in Cambridge, Massachusetts on Thursday.

On the data front, the latest weekly jobless claims and Philadelphia Fed manufacturing figures for February will both be released at 8:30 a.m. ET. The leading index for January will be published slightly later in the session.

The U.S. Treasury is set to auction $50 billion in four-week bills, $45 billion in eight-week bills and $8 billion in Treasury Inflation-Protected Securities (TIPS) on Thursday.


Company: cnbc, Activity: cnbc, Date: 2020-02-20  Authors: sam meredith
Keywords: news, cnbc, companies, latest, tick, billion, yields, fed, auctions, investors, lower, await, coronavirus, economic, treasury, data


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US weekly jobless claims rise slightly, while mid-Atlantic factory activity accelerates

The number of Americans filing for unemployment benefits rose modestly last week, suggesting sustained labor market strength that could help to support the economy amid risks from the coronavirus and weak business investment. Washington and China signed a Phase 1 trade deal in January. Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 210,000 for the week ended Feb. 15, the Labor Department said. Economists polled by Reuters had forecast claims increasing to


The number of Americans filing for unemployment benefits rose modestly last week, suggesting sustained labor market strength that could help to support the economy amid risks from the coronavirus and weak business investment.
Washington and China signed a Phase 1 trade deal in January.
Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 210,000 for the week ended Feb. 15, the Labor Department said.
Economists polled by Reuters had forecast claims increasing to
US weekly jobless claims rise slightly, while mid-Atlantic factory activity accelerates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-20
Keywords: news, cnbc, companies, factory, slightly, jobless, market, economic, claims, accelerates, trade, week, weekly, labor, risks, coronavirus, data, rise, unemployment, activity, midatlantic


US weekly jobless claims rise slightly, while mid-Atlantic factory activity accelerates

The number of Americans filing for unemployment benefits rose modestly last week, suggesting sustained labor market strength that could help to support the economy amid risks from the coronavirus and weak business investment.

There was encouraging news on the struggling manufacturing sector, with other data on Thursday showing factory activity in the mid-Atlantic region accelerated to a three-year high in February, likely as tensions in the 19-month trade war between the United States and China diminished. Washington and China signed a Phase 1 trade deal in January.

Minutes of the Federal Reserve’s Jan. 28-29 meeting published on Wednesday showed policymakers “expected economic growth to continue at a moderate pace,” but expressed concern about possible economic risks from the coronavirus which has killed more than 2,000 people, mostly in China.

Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 210,000 for the week ended Feb. 15, the Labor Department said. Economists polled by Reuters had forecast claims increasing to 210,000 in the latest week.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 3,250 to 209,000 last week.

U.S. financial markets were little moved by the data.


Company: cnbc, Activity: cnbc, Date: 2020-02-20
Keywords: news, cnbc, companies, factory, slightly, jobless, market, economic, claims, accelerates, trade, week, weekly, labor, risks, coronavirus, data, rise, unemployment, activity, midatlantic


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Google plans to move UK users’ accounts outside EU jurisdiction

Google is planning to move its British users’ accounts out of the control of European Union privacy regulators, placing them under U.S. jurisdiction instead, the company confirmed late on Wednesday. Alphabet Inc’s Google intends to require its British users to acknowledge new terms of service including the new jurisdiction, according to people familiar with the plans. Ireland, where Google and other U.S. tech companies have their European headquarters, is staying in the EU, which has one of the


Google is planning to move its British users’ accounts out of the control of European Union privacy regulators, placing them under U.S. jurisdiction instead, the company confirmed late on Wednesday.
Alphabet Inc’s Google intends to require its British users to acknowledge new terms of service including the new jurisdiction, according to people familiar with the plans.
Ireland, where Google and other U.S. tech companies have their European headquarters, is staying in the EU, which has one of the
Google plans to move UK users’ accounts outside EU jurisdiction Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-20
Keywords: news, cnbc, companies, plans, states, google, protection, accounts, tech, united, data, companies, privacy, outside, british, users, jurisdiction


Google plans to move UK users' accounts outside EU jurisdiction

Google is planning to move its British users’ accounts out of the control of European Union privacy regulators, placing them under U.S. jurisdiction instead, the company confirmed late on Wednesday.

Reuters had reported the plans earlier on Wednesday, citing people familiar with them.

The shift, prompted by Britain’s exit from the EU, will leave the sensitive personal information of tens of millions with less protection and within easier reach of British law enforcement.

Alphabet Inc’s Google intends to require its British users to acknowledge new terms of service including the new jurisdiction, according to people familiar with the plans.

“Nothing about our services or our approach to privacy will change, including how we collect or process data, and how we respond to law enforcement demands for users’ information,” Google said in an emailed statement. “The protections of the UK GDPR will still apply to these users.”

A spokesman declined to answer questions.

Ireland, where Google and other U.S. tech companies have their European headquarters, is staying in the EU, which has one of the world’s most aggressive data protection rules, the General Data Protection Regulation.

Google has decided to move its British users out of Irish jurisdiction because it is unclear whether Britain will follow GDPR or adopt other rules that could affect the handling of user data, the people said.

If British Google users have their data kept in Ireland, it would be more difficult for British authorities to recover it in criminal investigations.

The recent Cloud Act in the United States, however, is expected to make it easier for British authorities to obtain data from U.S. companies. Britain and the United States are also on track to negotiate a broader trade agreement.

Beyond that, the United States has among the weakest privacy protections of any major economy, with no broad law despite years of advocacy by consumer protection groups.

Google has amassed one of the largest stores of information about people on the planet, using the data to tailor services and sell advertising.

Google could also have had British accounts answer to a British subsidiary, but has opted not to, the people said.

Lea Kissner, Google’s former lead for global privacy technology, said she would have been surprised if the company had kept British accounts controlled in an EU country with the United Kingdom no longer a member.

“There’s a bunch of noise about the U.K. government possibly trading away enough data protection to lose adequacy under GDPR, at which point having them in Google Ireland’s scope sounds super-messy,” Kissner said.

“Never discount the desire of tech companies not be caught in between two different governments.”

In coming months, other U.S. tech companies will have to make similar choices, according to people involved in internal discussions elsewhere.

Facebook, which has a similar set-up to Google, did not immediately respond to requests for comment.


Company: cnbc, Activity: cnbc, Date: 2020-02-20
Keywords: news, cnbc, companies, plans, states, google, protection, accounts, tech, united, data, companies, privacy, outside, british, users, jurisdiction


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US agency responsible for Trump’s secure communication suffered data breach

The U.S. defense agency responsible for secure White House communications said Social Security numbers and other personal data in its network may have been compromised, according to a letter seen by Reuters on Thursday that was sent to individuals whose data may have been taken. The letter, dated Feb. 11, 2020, says that between May and July 2019, personal data may have been compromised “in a data breach” on a system hosted by the Defense Information Systems Agency. The Defense Information Syste


The U.S. defense agency responsible for secure White House communications said Social Security numbers and other personal data in its network may have been compromised, according to a letter seen by Reuters on Thursday that was sent to individuals whose data may have been taken.
The letter, dated Feb. 11, 2020, says that between May and July 2019, personal data may have been compromised “in a data breach” on a system hosted by the Defense Information Systems Agency.
The Defense Information Syste
US agency responsible for Trump’s secure communication suffered data breach Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-20
Keywords: news, cnbc, companies, trumps, individuals, secure, personal, letter, white, breach, systems, data, responsible, defense, support, suffered, communication, agency, taken


US agency responsible for Trump's secure communication suffered data breach

The U.S. defense agency responsible for secure White House communications said Social Security numbers and other personal data in its network may have been compromised, according to a letter seen by Reuters on Thursday that was sent to individuals whose data may have been taken.

The letter, dated Feb. 11, 2020, says that between May and July 2019, personal data may have been compromised “in a data breach” on a system hosted by the Defense Information Systems Agency.

The White House did not immediately answer a request for comment and the letter provided few further details. For example, it did not indicate what specific part of DISA’s network had been breached or identify which other individuals may have had their data compromised.

The Defense Information Systems Agency, which calls itself a combat support agency of the Defense Department on its website, employs 8,000 military and civilian employees.

The agency says it “provides direct telecommunications and IT support to the president, vice president, their staff, and the U.S. Secret Service.”

The site also says the agency provides “direct support” to the chairman of the Joint Chiefs of Staff and senior members of the U.S. armed forces. Its field offices support U.S. military commanders abroad.

The agency’s letter said that it had no evidence any personal data possibly taken was misused but that it was required to notify individuals who may have had data taken.


Company: cnbc, Activity: cnbc, Date: 2020-02-20
Keywords: news, cnbc, companies, trumps, individuals, secure, personal, letter, white, breach, systems, data, responsible, defense, support, suffered, communication, agency, taken


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European stocks open higher as investors monitor coronavirus spread, economic data

European stocks opened higher on Wednesday as investors monitor the spread of the new coronavirus and fresh economic data. The pan-European Stoxx 600 climbed 0.5% at the start of the trading session, with basic resources adding 1.2% to lead gains as all sectors except utilities entered positive territory. China’s National Health Commission said that as of Tuesday night, a total of 74,185 cases of the new coronavirus had been confirmed in the country and 2,004 people have died. Asian stocks recov


European stocks opened higher on Wednesday as investors monitor the spread of the new coronavirus and fresh economic data.
The pan-European Stoxx 600 climbed 0.5% at the start of the trading session, with basic resources adding 1.2% to lead gains as all sectors except utilities entered positive territory.
China’s National Health Commission said that as of Tuesday night, a total of 74,185 cases of the new coronavirus had been confirmed in the country and 2,004 people have died.
Asian stocks recov
European stocks open higher as investors monitor coronavirus spread, economic data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-19  Authors: elliot smith
Keywords: news, cnbc, companies, open, following, economic, spread, data, monitor, markets, coronavirus, earnings, investors, stocks, competition, higher, european


European stocks open higher as investors monitor coronavirus spread, economic data

European stocks opened higher on Wednesday as investors monitor the spread of the new coronavirus and fresh economic data.

The pan-European Stoxx 600 climbed 0.5% at the start of the trading session, with basic resources adding 1.2% to lead gains as all sectors except utilities entered positive territory.

China’s National Health Commission said that as of Tuesday night, a total of 74,185 cases of the new coronavirus had been confirmed in the country and 2,004 people have died. A slight slowing of the rate of new cases has lifted investor sentiment, while markets are also monitoring China’s attempted return to production following a prolonged shutdown which has sparked fears over global supply chains.

Asian stocks recovered slightly on Wednesday, led by a 1.08% jump for Japan’s Nikkei 225, while mainland Chinese and Hong Kong markets all edged cautiously higher.

Back in Europe, the EU will on Wednesday launch the first of a series of white paper proposals aiming to help European companies capitalize on their vast quantities of industrial data, while reining in U.S. tech behemoths Facebook, Google and Amazon.

Meanwhile the EU’s top competition chief, Margrethe Vestager, told CNBC on Tuesday that the prospect of the U.S. government taking a stake in top European 5G players Nokia and Ericsson was not off the table, providing there is no security risk.

Both the EU and the U.K. have struck defiant tones ahead of negotiations over a new trade deal following Britain’s exit from the bloc, and Reuters reported Tuesday that the EU had hardened its stance, demanding fair competition guarantees which will “stand the test of time.”

A raft of U.K. inflation data for January is due at 9:30 a.m. London time before euro area annualized construction output figures for December at 10 a.m.

Deutsche Telekom on Wednesday forecast that growth in its core earnings would slow to 3% this year after a strong fourth quarter. Europe’s largest mobile operator projected adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) to hit 25.5 billion euros ($27.5 billion), missing analyst expectations.


Company: cnbc, Activity: cnbc, Date: 2020-02-19  Authors: elliot smith
Keywords: news, cnbc, companies, open, following, economic, spread, data, monitor, markets, coronavirus, earnings, investors, stocks, competition, higher, european


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EU launches plan to regulate A.I. aimed at Silicon Valley giants

He said, however, that the “good news” is that the EU now understands that the next tussle will be over industrial data. The European Commission, the EU’s executive branch, opened a 12-week period of discussion on Wednesday aimed at better understanding how to protect EU citizens from what it describes as the negative impacts of A.I. BRUSSELS – The European Union is looking at ways to regulate artificial intelligence (AI) as it ramps up its oversight of large technology firms. The EU is seen as


He said, however, that the “good news” is that the EU now understands that the next tussle will be over industrial data.
The European Commission, the EU’s executive branch, opened a 12-week period of discussion on Wednesday aimed at better understanding how to protect EU citizens from what it describes as the negative impacts of A.I.
BRUSSELS – The European Union is looking at ways to regulate artificial intelligence (AI) as it ramps up its oversight of large technology firms.
The EU is seen as
EU launches plan to regulate A.I. aimed at Silicon Valley giants Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-19  Authors: silvia amaro
Keywords: news, cnbc, companies, aimed, launches, technology, commission, brussels, eus, data, plan, valley, european, silicon, giants, regulate, vestager, regulation


EU launches plan to regulate A.I. aimed at Silicon Valley giants

BRUSSELS, BELGIUM – FEBRUARY 19: Executive Vice President of the European Commission for a Europe Fit for the Digital Age Margrethe Vestager (L) and the EU Commissioner for Internal Market Thierry Breton (R) are talking to media in the Berlaymont, the EU Commission headquarter on February 19, 2020 in Brussels, Belgium.

“We recognize that we missed the first wave, or the first battle, which was the battle of personal data,” Thierry Breton, the EU’s commissioner for the internal market, told reporters in Brussels Wednesday. He said, however, that the “good news” is that the EU now understands that the next tussle will be over industrial data.

The European Commission, the EU’s executive branch, opened a 12-week period of discussion on Wednesday aimed at better understanding how to protect EU citizens from what it describes as the negative impacts of A.I. More concrete legislation is then expected in the second half of this year, in what could become its next big point of contention with companies such as Facebook and Alphabet.

BRUSSELS – The European Union is looking at ways to regulate artificial intelligence (AI) as it ramps up its oversight of large technology firms.

The EU is seen as a leader in corporate regulation, but European companies still struggle with competition from American and Chinese firms. The region’s data privacy rules, called General Data Protection Regulation (GDPR) and were announced in 2018, serve as a benchmark for tougher regulation in other parts of the world, including in the United States.

Overall, the EU’s aim when it comes to A.I. is to assess what sort of technologies are a risk to fundamental human rights, including in areas such as health care and transport. These will be subject to tougher requirements.

One area that the Commission is particularly concerned about is facial recognition. At the moment, the processing of biometric data in order to identify people is illegal in most cases, under data privacy laws. However, the EU is now looking at whether there should be certain exceptions.

Speaking to journalists in Brussels, Margrethe Vestager, the EU’s head of competition policy, said: “Artificial intelligence is not good or bad in itself, it all depends on why and how it is used.”

In an exclusive interview with CNBC Tuesday, Vestager said that the EU is taking a “double-sided” approach where it will enable this technology, while also ensuring it’s not harmful to EU citizens.

Meanwhile, U.S. lawmakers are watching and waiting to see what the EU decides on. “We encourage the EU to follow America’s lead and pursue an innovation friendly, values-based approach to A.I. regulation, one which avoids over-burdensome, one-size-fits-all policies,” Michael Kratsios, the U.S. chief technology officer told CNBC in emailed remarks.

He added that “the best way to counter authoritarian uses of A.I. is to ensure the U.S. and its allies remain leaders in innovation, advancing technology underpinned by our common values.”


Company: cnbc, Activity: cnbc, Date: 2020-02-19  Authors: silvia amaro
Keywords: news, cnbc, companies, aimed, launches, technology, commission, brussels, eus, data, plan, valley, european, silicon, giants, regulate, vestager, regulation


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US solar jobs have risen 167% since 2010, new data shows

The solar industry in the U.S. employed 249,983 people in 2019, a 2.3% increase compared to the previous year, according to The Solar Foundation’s “National Solar Jobs Census.” In a statement Wednesday, The Solar Foundation, a nonprofit organization, said that jobs in the industry had grown by 167% since the publication of the first census for 2010. Overall, solar jobs grew in 31 states last year. The Solar Foundation said its census was based on a survey of “solar establishments” carried out be


The solar industry in the U.S. employed 249,983 people in 2019, a 2.3% increase compared to the previous year, according to The Solar Foundation’s “National Solar Jobs Census.”
In a statement Wednesday, The Solar Foundation, a nonprofit organization, said that jobs in the industry had grown by 167% since the publication of the first census for 2010.
Overall, solar jobs grew in 31 states last year.
The Solar Foundation said its census was based on a survey of “solar establishments” carried out be
US solar jobs have risen 167% since 2010, new data shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-19  Authors: anmar frangoul
Keywords: news, cnbc, companies, risen, jobs, foundation, solar, shows, 2019, survey, state, data, 2010, industry, 2018, 167, workers, census


US solar jobs have risen 167% since 2010, new data shows

The solar industry in the U.S. employed 249,983 people in 2019, a 2.3% increase compared to the previous year, according to The Solar Foundation’s “National Solar Jobs Census.”

The 2019 numbers represent a small boon for the industry, which saw job losses in both 2017 and 2018. The numbers for 2018 and 2019 include data from Puerto Rico.

In a statement Wednesday, The Solar Foundation, a nonprofit organization, said that jobs in the industry had grown by 167% since the publication of the first census for 2010.

When it comes to jobs by state, California leads the way with 74,255 workers, although the Golden State did see a 3.4% drop in solar jobs compared to 2018. Overall, solar jobs grew in 31 states last year.

Breaking the census down, the 249,983 figure refers to people who spent “the majority of their time on solar-related activities.” If people who spent “some portion of their time” on solar-related work are included, then the total number of workers grows to 344,532.

“In just ten years, despite facing many challenges, solar has grown from a niche product to a mainstream energy source that provides a quarter of a million high-quality jobs,” Andrea Luecke, The Solar Foundation’s president and executive director, said in a statement.

“This is great news, but it’s only a fraction of what can be accomplished if we are truly committed to solving the climate crisis and expanding the use of solar and storage,” Luecke added. “It’s past time for us to unite as a nation and create even more jobs by harnessing the power of the sun.”

To put the solar figures in some sort of context, the American Wind Energy Association says it represents more than 114,000 jobs in the U.S.

According to a 2017 report from PricewaterhouseCoopers, produced for the American Petroleum Institute, 10.3 million full and part-time jobs in the U.S. were supported by the natural gas and oil industry in 2015.

The Solar Foundation said its census was based on a survey of “solar establishments” carried out between October and November 2019. Around 66,900 phone calls were made, with more than 47,000 emails sent.

Its survey was sent to “2,766 establishments, of which 1,859 completed or substantially completed the survey.” The Solar Foundation said that this gave a margin of error of 2.27% for the jobs data.


Company: cnbc, Activity: cnbc, Date: 2020-02-19  Authors: anmar frangoul
Keywords: news, cnbc, companies, risen, jobs, foundation, solar, shows, 2019, survey, state, data, 2010, industry, 2018, 167, workers, census


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