China’s tech services are a top investment pick amid decoupling with the US, says CITIC Capital CEO

Consumption, healthcare and technology are three sector picks for investing in China, said CITIC Capital’s top executive on Tuesday. “For us, the top priority … is still on consumption, because it’s still growing at a higher rate than GDP growth,” said Zhang Yichen, chairman and CEO at CITIC Capital, the flagship investment arm of Chinese state-owned conglomerate CITIC Group. Another potential area for investment is technology services due to the potential decoupling with the U.S. in that area


Consumption, healthcare and technology are three sector picks for investing in China, said CITIC Capital’s top executive on Tuesday.
“For us, the top priority … is still on consumption, because it’s still growing at a higher rate than GDP growth,” said Zhang Yichen, chairman and CEO at CITIC Capital, the flagship investment arm of Chinese state-owned conglomerate CITIC Group.
Another potential area for investment is technology services due to the potential decoupling with the U.S. in that area
China’s tech services are a top investment pick amid decoupling with the US, says CITIC Capital CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: huileng tan
Keywords: news, cnbc, companies, pick, china, decoupling, investment, trade, technology, zhang, sector, tech, chinas, rise, chinese, area, citic, capital, ceo, services, amid


China's tech services are a top investment pick amid decoupling with the US, says CITIC Capital CEO

Consumption, healthcare and technology are three sector picks for investing in China, said CITIC Capital’s top executive on Tuesday.

“For us, the top priority … is still on consumption, because it’s still growing at a higher rate than GDP growth,” said Zhang Yichen, chairman and CEO at CITIC Capital, the flagship investment arm of Chinese state-owned conglomerate CITIC Group.

China’s GDP growth was 6.1%, down from 6.6% in 2018 as the economy took a hit from its bitter trade war with the U.S.

Speaking to CNBC at the World Economic Forum in Davos, Switzerland, Zhang said health care is also an important sector as the Chinese society is aging rapidly, so there’s robust demand for good health-care services.

Another potential area for investment is technology services due to the potential decoupling with the U.S. in that area, Zhang said.

In the area of database software, “nobody in China will think of against competing with Oracle because that’s the international, the industry standard,” he said. But now, “decoupling could happen any minute, you cannot possibly run that risk, so there will be domestic competitors in that field as well.”

Beijing has been managing a transition of its economy from an export-driven manufacturing giant to one lead by domestic consumption.

Zhang said CITIC Capital has been focusing on “a lot of” buyouts in China over the last several years to deal with the consequences that come with overcapacity in “almost every” industry in China.

“Consolidation was needed to improve the return on capital, hence reducing the leverage through the improvement in cashflow, so buyout is clearly on the rise,” he said.

Going forward, “most Chinese businesses need to improve themselves through expanding internationally,” Zhang said.

However, “given the overall trade tensions, all the protectionism on the rise, we’re clearly cautious on that front as well,” he added.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: huileng tan
Keywords: news, cnbc, companies, pick, china, decoupling, investment, trade, technology, zhang, sector, tech, chinas, rise, chinese, area, citic, capital, ceo, services, amid


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IBM chief calls for ‘precision regulation’ on AI that weighs privacy against benefits to society

There does need to be artificial intelligence regulation but it must be thoughtfully crafted to allow for technological advancement, IBM Chair and CEO Ginni Rometty told CNBC on Wednesday. Rometty called on lawmakers to regulate “how the technology is used,” but not necessarily the technology itself. She pointed to facial recognition systems as an example of how such regulation could work. “When you go through an airport to get through safely, to find a criminal, those are good uses of facial re


There does need to be artificial intelligence regulation but it must be thoughtfully crafted to allow for technological advancement, IBM Chair and CEO Ginni Rometty told CNBC on Wednesday.
Rometty called on lawmakers to regulate “how the technology is used,” but not necessarily the technology itself.
She pointed to facial recognition systems as an example of how such regulation could work.
“When you go through an airport to get through safely, to find a criminal, those are good uses of facial re
IBM chief calls for ‘precision regulation’ on AI that weighs privacy against benefits to society Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, rometty, liberties, ibm, facial, recognition, precision, calls, privacy, chief, benefits, technology, systems, society, told, regulation, world, weighs


IBM chief calls for 'precision regulation' on AI that weighs privacy against benefits to society

There does need to be artificial intelligence regulation but it must be thoughtfully crafted to allow for technological advancement, IBM Chair and CEO Ginni Rometty told CNBC on Wednesday.

“Precision regulation is what I think is needed because … we’ve got to compete in this world against every country,” Rometty said in a “Squawk Box” interview from the World Economic Forum in Davos, Switzerland. “You want to have innovation flourish and you’ve got to balance that with security.”

Rometty called on lawmakers to regulate “how the technology is used,” but not necessarily the technology itself. She pointed to facial recognition systems as an example of how such regulation could work.

“When you go through an airport to get through safely, to find a criminal, those are good uses of facial recognition,” she said. “To violate your civil liberties, it’s not.”

Beyond civil liberties issues, other concerns around A.I. involve bias in algorithms. A.I. systems use large amounts of data, which could itself be biased, and the people writing the programs can have their own biases.

The issue was highlighted in November when allegations of algorithmic bias were levied against Goldman Sachs and its Apple Card. The investment bank denied the accusations.

Rometty’s comments follow remarks earlier this week from Alphabet CEO Sundar Pichai, who told European regulators to take a “proportionate approach” in its A.I. regulation proposals.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, rometty, liberties, ibm, facial, recognition, precision, calls, privacy, chief, benefits, technology, systems, society, told, regulation, world, weighs


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Dubai start-up Cafu expands to Oman in regional growth push

DUBAI, United Arab Emirates — Dubai-based start-up Cafu is expanding its fuel-delivery operations to Oman, marking its first international market entry since it began services in November 2018. “We are humbled to be able to take our homegrown innovative services from Dubai to the world, starting today with Oman,” Cafu Founder and CEO, Rashid Al Ghurair, said Sunday. Cafu uses a mobile app and a fleet of custom-built fuel trucks equipped with internet of things technology, RFID readers and artifi


DUBAI, United Arab Emirates — Dubai-based start-up Cafu is expanding its fuel-delivery operations to Oman, marking its first international market entry since it began services in November 2018.
“We are humbled to be able to take our homegrown innovative services from Dubai to the world, starting today with Oman,” Cafu Founder and CEO, Rashid Al Ghurair, said Sunday.
Cafu uses a mobile app and a fleet of custom-built fuel trucks equipped with internet of things technology, RFID readers and artifi
Dubai start-up Cafu expands to Oman in regional growth push Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: dan murphy
Keywords: news, cnbc, companies, technology, ghurair, growth, regional, push, dubai, fleet, oman, services, international, trucks, expands, startup, united, cafu


Dubai start-up Cafu expands to Oman in regional growth push

DUBAI, United Arab Emirates — Dubai-based start-up Cafu is expanding its fuel-delivery operations to Oman, marking its first international market entry since it began services in November 2018.

“We are humbled to be able to take our homegrown innovative services from Dubai to the world, starting today with Oman,” Cafu Founder and CEO, Rashid Al Ghurair, said Sunday.

Cafu uses a mobile app and a fleet of custom-built fuel trucks equipped with internet of things technology, RFID readers and artificial intelligence cameras. Users provide their car location so fuel can be delivered anywhere at any time.

“Along with our partners, we are confident that our technology combined with our growing fleet of safety-tested and certified trucks will deliver a one-of-a-kind convenience for our customers in Oman,” Al Ghurair added.

Cafu currently runs a fleet of more than 80 trucks in Dubai, Sharjah and Ajman in the United Arab Emirates. To begin its international expansion, it has signed a joint agreement with Oman-based Al Maha Petroleum, which operates a network of more than 225 service stations across the country.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: dan murphy
Keywords: news, cnbc, companies, technology, ghurair, growth, regional, push, dubai, fleet, oman, services, international, trucks, expands, startup, united, cafu


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How companies like Google and IBM plan to make money from quantum computing

Quantum computers use the natural world to produce machines with staggeringly powerful processing potential. Quantum computing could also help scientists speed up discoveries in adjacent fields like machine learning and artificial intelligence. Amazon, Google, IBM and Microsoft, plus a host of smaller companies such as Rigetti and D-Wave, are all betting big on quantum. said Martin Reynolds, an analyst with Gartner who covers quantum computing. “So you could see there are some simply astonishing


Quantum computers use the natural world to produce machines with staggeringly powerful processing potential.
Quantum computing could also help scientists speed up discoveries in adjacent fields like machine learning and artificial intelligence.
Amazon, Google, IBM and Microsoft, plus a host of smaller companies such as Rigetti and D-Wave, are all betting big on quantum.
said Martin Reynolds, an analyst with Gartner who covers quantum computing.
“So you could see there are some simply astonishing
How companies like Google and IBM plan to make money from quantum computing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: jeff morganteen
Keywords: news, cnbc, companies, thing, plan, simulate, future, far, ibm, money, companies, quantum, computing, google, technology, computers, big


How companies like Google and IBM plan to make money from quantum computing

Quantum computers use the natural world to produce machines with staggeringly powerful processing potential.

We could use quantum computers to simulate molecules to build new drugs and new materials, and to solve problems plaguing physicists for decades. Wall Street could use them to optimize portfolios, simulate economic forecasts and for complex risk analysis. Quantum computing could also help scientists speed up discoveries in adjacent fields like machine learning and artificial intelligence.

Amazon, Google, IBM and Microsoft, plus a host of smaller companies such as Rigetti and D-Wave, are all betting big on quantum.

“How many of your billions would you give over for an extra 10 years of life?” said Martin Reynolds, an analyst with Gartner who covers quantum computing. “So you could see there are some simply astonishing financial opportunities in quantum computing. This is why there’s so much interest, even though it’s so far down the road.”

But nothing is ever a sure thing. And dealing with the quirky nature of quantum physics creates some big hurdles for this nascent technology. Is quantum truly the next big thing in computing? Or is it destined to become something more like nuclear fusion—destined to always be the technology of the future, never the present?

Watch the video above to learn more about quantum computing and how tech companies hope to use the technology in the far and near future.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: jeff morganteen
Keywords: news, cnbc, companies, thing, plan, simulate, future, far, ibm, money, companies, quantum, computing, google, technology, computers, big


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These are the most in-demand job skills in 2020, according to LinkedIn

Blockchain has topped the list of skills bosses are looking for in employees around the world this year, according to professional social media platform LinkedIn. Yet it was both first time blockchain made it onto LinkedIn’s rankings of in-demand skills and came in first place. Namrata Murlidhar, marketing director at LinkedIn, said blockchain had emerged from the “once shadowy world” of cryptocurrency to become a “transformative business solution.” Cloud computing came in second place, which is


Blockchain has topped the list of skills bosses are looking for in employees around the world this year, according to professional social media platform LinkedIn.
Yet it was both first time blockchain made it onto LinkedIn’s rankings of in-demand skills and came in first place.
Namrata Murlidhar, marketing director at LinkedIn, said blockchain had emerged from the “once shadowy world” of cryptocurrency to become a “transformative business solution.”
Cloud computing came in second place, which is
These are the most in-demand job skills in 2020, according to LinkedIn Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: vicky mckeever
Keywords: news, cnbc, companies, indemand, according, 2020, linkedin, users, skills, store, looking, job, blockchain, data, place, world, technology


These are the most in-demand job skills in 2020, according to LinkedIn

Blockchain has topped the list of skills bosses are looking for in employees around the world this year, according to professional social media platform LinkedIn.

The record-keeping technology first emerged in 2009 with the birth of cryptocurrency but has since moved on from supporting the use of the likes of Bitcoin.

The ability to store, validate, authorize, and move data across the internet with blockchain means it is now being used to securely store and send any digital asset. The technology also stores a permanent and non-editable record of data entry.

Blockchain was the top priority for employers hiring in the U.S., U.K., France, Germany and Australia, LinkedIn found. Yet it was both first time blockchain made it onto LinkedIn’s rankings of in-demand skills and came in first place.

Namrata Murlidhar, marketing director at LinkedIn, said blockchain had emerged from the “once shadowy world” of cryptocurrency to become a “transformative business solution.”

Industries outside the financial services sector were increasingly seeking talent with experience in blockchain, she added, including retail, shipping, healthcare, farming and gaming.

LinkedIn measured demand by looking at the profiles of its users, to determine the frequency that people with different skillsets were getting hired.

Cloud computing came in second place, which is the technology allowing data to be stored and managed on the internet. People working in this area would be developing the architecture, design and delivery of cloud systems.

In third place was analytical reasoning – the ability to make sense of data and uncover insights that can help business decisions.

Artificial intelligence (AI), which is the technology developing machine-learning, was the fourth most in-demand area of “hard” skills for employers.

Rounding out the top five was UX design, the focus on users’ experience of products, particularly technology.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: vicky mckeever
Keywords: news, cnbc, companies, indemand, according, 2020, linkedin, users, skills, store, looking, job, blockchain, data, place, world, technology


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Here are Credit Suisse’s 10 ‘surprises’ for 2020, including a big market prediction

A trader works on the floor of the New York Stock Exchange (NYSE) in New York. The market started 2020 on a strong note as easing geopolitical tensions lifted stocks to all-time highs, and according to one strategist, this year’s rally is just getting started. In Credit Suisse’s annual list of “10 surprises,” global equity strategist Andrew Garthwaite said the S&P could rise another 25%. Other predictions include oil finishing the year as one of the three best-performing sectors, as well as Chin


A trader works on the floor of the New York Stock Exchange (NYSE) in New York.
The market started 2020 on a strong note as easing geopolitical tensions lifted stocks to all-time highs, and according to one strategist, this year’s rally is just getting started.
In Credit Suisse’s annual list of “10 surprises,” global equity strategist Andrew Garthwaite said the S&P could rise another 25%.
Other predictions include oil finishing the year as one of the three best-performing sectors, as well as Chin
Here are Credit Suisse’s 10 ‘surprises’ for 2020, including a big market prediction Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: pippa stevens
Keywords: news, cnbc, companies, including, trader, prediction, threedecade, big, list, credit, surprises, 2020, suisses, yorkthe, technology, underperforminga, works, york, strategist, tensions, market


Here are Credit Suisse's 10 'surprises' for 2020, including a big market prediction

A trader works on the floor of the New York Stock Exchange (NYSE) in New York.

The market started 2020 on a strong note as easing geopolitical tensions lifted stocks to all-time highs, and according to one strategist, this year’s rally is just getting started.

In Credit Suisse’s annual list of “10 surprises,” global equity strategist Andrew Garthwaite said the S&P could rise another 25%. Other predictions include oil finishing the year as one of the three best-performing sectors, as well as China’s GDP growth rate hitting a three-decade low and the technology sector underperforming.

A “surprise” on the list, which has been published for nearly 30 years and includes five positive and five negative outcomes, is defined as an event outside the firm’s core scenario, but one where the distribution skews.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: pippa stevens
Keywords: news, cnbc, companies, including, trader, prediction, threedecade, big, list, credit, surprises, 2020, suisses, yorkthe, technology, underperforminga, works, york, strategist, tensions, market


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Apple’s App Store appeals process would make ‘Kafka blush,’ entrepreneur tells Congress

Technology executives said that Apple’s App Store platform has too much power in a congressional hearing in Boulder, Colorado on Friday. For Apple, the entrepreneurs focused on Apple’s App Store, which is the only way for most people to install software on an iPhone. “Every application maker using the App Store lives in fear that their application is denied,” Hansson said. Developers who disagree with an App Review decision, which is made based on Apple’s App Store guidelines, can appeal to a bo


Technology executives said that Apple’s App Store platform has too much power in a congressional hearing in Boulder, Colorado on Friday.
For Apple, the entrepreneurs focused on Apple’s App Store, which is the only way for most people to install software on an iPhone.
“Every application maker using the App Store lives in fear that their application is denied,” Hansson said.
Developers who disagree with an App Review decision, which is made based on Apple’s App Store guidelines, can appeal to a bo
Apple’s App Store appeals process would make ‘Kafka blush,’ entrepreneur tells Congress Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: kif leswing
Keywords: news, cnbc, companies, congress, developers, hearing, apple, tells, kafka, review, entrepreneur, technology, reviewers, store, appeals, process, app, blush, apples


Apple's App Store appeals process would make 'Kafka blush,' entrepreneur tells Congress

Apple CEO Tim Cook delivers the keynote address during a special event on September 10, 2019 in the Steve Jobs Theater on Apple’s Cupertino, California campus.

The hearing, which focused on Amazon , Facebook , and Google , and at times Apple , also indicates that lawmakers continue to lump big technology antitrust concerns together, despite the fact that the companies operate different marketplaces and face different allegations of anti-competitive behavior.

The hearing, held by the House Antitrust Subcommittee, is another signal that Washington lawmakers are increasingly scrutinizing big technology companies over power that might not always harm consumers, but can hurt smaller businesses.

Technology executives said that Apple’s App Store platform has too much power in a congressional hearing in Boulder, Colorado on Friday.

For Apple, the entrepreneurs focused on Apple’s App Store, which is the only way for most people to install software on an iPhone.

Basecamp founder David Heinemeier Hansson said that anyone who submits applications to the App Store is worried that Apple could reject their app, and that the company’s system of appeals is difficult to navigate.

“Every application maker using the App Store lives in fear that their application is denied,” Hansson said.

He continued: “All it takes is being assigned the wrong clerk, then you’ll be stuck in an appeals process that would make Kafka blush.”

Hansson was referring to Franz Kafka’s novel “The Trial,” which describes a frustrating, mysterious bureaucracy.

Hansson also criticized Apple’s practice of taking 30% of total sales processed through the App Store as “outrageous” and said his company had designed its apps to avoid it.

“We created the App Store with two goals in mind: that it be a safe and trusted place for customers to discover and download apps, and a great business opportunity for all developers,” Apple said. “We continually work with developers and take their feedback on how to help protect user privacy while also providing the tools developers need to make the best app experiences.”

Apple employees review every single app and update that are distributed through the App Store, CNBC previously reported, and some reviewers said that the process and rejections can be arbitrary.

Developers who disagree with an App Review decision, which is made based on Apple’s App Store guidelines, can appeal to a board called the App Review Board, CNBC reported, which can change a lower level reviewer’s decision. It is partially composed of reviewers with good track records, people familiar with the process previously told CNBC.

Last year, Apple published published a new webpage that explains the principles that govern the App Store as well as the most common reasons for rejection.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: kif leswing
Keywords: news, cnbc, companies, congress, developers, hearing, apple, tells, kafka, review, entrepreneur, technology, reviewers, store, appeals, process, app, blush, apples


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Airbus releases photos of automatic take-offs

Airbus looks to have taken pilotless commercial jet flight one step closer after revealing that one of its test aircraft has taken off automatically. An Airbus test pilot is shown with one hand at rest as an A350-1000, fitted with image recognition technology, takes off automatically at Toulouse-Blagnac airport on December 18, 2019. The nose of the aircraft began to lift up automatically to take the expected take-off pitch value and a few seconds later we were airborne,” said Airbus Test Pilot C


Airbus looks to have taken pilotless commercial jet flight one step closer after revealing that one of its test aircraft has taken off automatically.
An Airbus test pilot is shown with one hand at rest as an A350-1000, fitted with image recognition technology, takes off automatically at Toulouse-Blagnac airport on December 18, 2019.
The nose of the aircraft began to lift up automatically to take the expected take-off pitch value and a few seconds later we were airborne,” said Airbus Test Pilot C
Airbus releases photos of automatic take-offs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: david reid
Keywords: news, cnbc, companies, takeoff, automatically, taken, technology, pilot, system, takeoffs, test, automatic, aircraft, airbus, releases, photos, toulouseblagnac


Airbus releases photos of automatic take-offs

Airbus looks to have taken pilotless commercial jet flight one step closer after revealing that one of its test aircraft has taken off automatically. The European planemaker said that in tests conducted at Toulouse-Blagnac airport on December 18, an A350-1000 with two pilots sitting ready to take over, conducted eight takeoffs on auto-pilot. Accompanying the press release was a photograph showing a pilot sitting with one hand at rest as the plane pitched up.

An Airbus test pilot is shown with one hand at rest as an A350-1000, fitted with image recognition technology, takes off automatically at Toulouse-Blagnac airport on December 18, 2019. Source: Airbus

“We moved the throttle levers to the take-off setting and we monitored the aircraft. It started to move and accelerate automatically maintaining the runway center line, at the exact rotation speed as entered in the system. The nose of the aircraft began to lift up automatically to take the expected take-off pitch value and a few seconds later we were airborne,” said Airbus Test Pilot Captain Yann Beaufils. The technology behind the takeoff is different from the Instrument Landing System (ILS) currently used around the world, Airbus said in its press release Thursday. Instead, the company said the automatic takeoff was made possible by image recognition technology installed directly on the aircraft. The company says the next step is automatic vision-based landing and taxi sequences taking place by mid-2020.

March to automation


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: david reid
Keywords: news, cnbc, companies, takeoff, automatically, taken, technology, pilot, system, takeoffs, test, automatic, aircraft, airbus, releases, photos, toulouseblagnac


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In climate push, Microsoft to erase its carbon footprint from atmosphere

Microsoft plans to cut its carbon emissions by more than half by 2030 across its supply chain. He added that Microsoft will also expand an internal fee that it has charged to its business groups to account for their carbon emissions. That money is used, then, for us to invest in our work to reduce our carbon emissions, he said. Microsoft plans to become net zero carbon a decade earlier than Amazon, although this is in part because its emissions are roughly a third less. Microsoft expects to rele


Microsoft plans to cut its carbon emissions by more than half by 2030 across its supply chain.
He added that Microsoft will also expand an internal fee that it has charged to its business groups to account for their carbon emissions.
That money is used, then, for us to invest in our work to reduce our carbon emissions, he said.
Microsoft plans to become net zero carbon a decade earlier than Amazon, although this is in part because its emissions are roughly a third less.
Microsoft expects to rele
In climate push, Microsoft to erase its carbon footprint from atmosphere Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, atmosphere, including, footprint, technology, climate, direct, carbon, emissions, companies, erase, indirect, microsoft, plans, push


In climate push, Microsoft to erase its carbon footprint from atmosphere

Microsoft said on Thursday it aims to remove more carbon from the atmosphere than it emits by 2030 and that by 2050, it hopes to have taken out enough to account for all the direct emissions the company has ever made.

The focus on removing existing carbon from the atmosphere sets Microsoft’s climate goals apart from other corporate pledges which have focused on cutting ongoing emissions or preventing future ones.

Speaking from a stage at Microsofts headquarters in Redmond, Washington, Chief Executive Satya Nadella said that corporations need to create profitable solutions for the problems of both people and planet.

If the last decade has taught us anything, its that technology built without these principles can do more harm than good, he said. We must begin to offset the damaging effects of climate change, he said, adding if global temperatures continue to rise unabated the results will be devastating.

The announcement by the world’s largest software company is the latest in a flurry of climate goals set out by firms after President Donald Trump announced in 2017 his decision to pull the United States out of the Paris Agreement, the global pact to fight climate change.

Microsoft plans to cut its carbon emissions by more than half by 2030 across its supply chain. The plan includes the creation of a “Climate Innovation Fund,” which will invest $1 billion over the next four years to speed up the development of carbon removal technology.

The effort “will require technology by 2030 that doesn’t fully exist today,” Microsoft President Brad Smith said.

He added that Microsoft will also expand an internal fee that it has charged to its business groups to account for their carbon emissions.

Since 2012, Microsoft assessed the fee on direct emissions, electricity use and air travel, among other activities, but will expand it to cover all Microsoft-related emissions.

That money is used, then, for us to invest in our work to reduce our carbon emissions, he said.

Co-founder Bill Gates was an early backer of British Columbia-based Carbon Engineering, one of a handful of companies developing direct air capture technology.

Microsoft’s goal to have removed enough carbon by 2050 to account for all its emissions since its founding in 1975 encompasses direct emissions from sources such as company vehicles and indirect emissions from electricity use, it said.

But even as technology companies have stepped in with their own climate goal plans, they have faced criticism from their employees for doing too little.

Amazon, the world’s largest online retailer, last year pledged to be “net zero carbon” by 2040 and to buy 100,000 electric delivery vans from a startup, after employee activists pushed the retailer to take a tougher stance on climate change.

Microsoft plans to become net zero carbon a decade earlier than Amazon, although this is in part because its emissions are roughly a third less.

Microsoft expects to release 16 million metric tons of CO2 in 2020, including indirect emissions from activities like corporate travel.

Amazon runs a bigger cloud business than Microsoft and a massive retail and logistics organization, with packaging, delivery and customer trips to its chain of Whole Foods stores all piling on to its carbon footprint. Including indirect sources, it emitted more than 44 million metric tons of carbon in 2018.

It was not immediately clear if the figures reported by the companies were exactly comparable.

Both Microsoft and Amazon have come under fire from activist tech workers who have demanded they stop supplying technology to oil and gas companies. Microsoft in 2017 announced a multi-year deal to sell cloud services to U.S. energy giant Chevron.

In a blog post, Microsoft on Thursday reiterated its commitment to working with oil and gas companies.

“Its imperative that we enable energy companies to transition, including to renewable energy and to the development and use of negative emission technologies like carbon capture and storage and direct air capture,” Microsoft said.


Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, atmosphere, including, footprint, technology, climate, direct, carbon, emissions, companies, erase, indirect, microsoft, plans, push


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Big Tech is worth over $5 trillion now that Alphabet has joined the four comma club

David Paul Morris | Bloomberg | Getty ImagesEven as regulators bear down on the top technology companies and some lawmakers seek to break them up, Big Tech is bigger than ever. Adding Facebook into that group, the five most valuable U.S. tech companies are now worth a staggering $5.2 trillion, accounting for over 17% of the S&P 500, according to FactSet. That’s up from 11% five years ago, with about two-thirds of the value, or $3.5 trillion, accruing over that stretch. The complaint alleges that


David Paul Morris | Bloomberg | Getty ImagesEven as regulators bear down on the top technology companies and some lawmakers seek to break them up, Big Tech is bigger than ever.
Adding Facebook into that group, the five most valuable U.S. tech companies are now worth a staggering $5.2 trillion, accounting for over 17% of the S&P 500, according to FactSet.
That’s up from 11% five years ago, with about two-thirds of the value, or $3.5 trillion, accruing over that stretch.
The complaint alleges that
Big Tech is worth over $5 trillion now that Alphabet has joined the four comma club Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: ari levy
Keywords: news, cnbc, companies, club, worth, big, google, companies, billion, joined, sonos, technology, data, comma, apple, alphabet, company, trillion, tech


Big Tech is worth over $5 trillion now that Alphabet has joined the four comma club

Sundar Pichai, senior vice president of Android, Chrome and Apps for Google Inc., speaks during the Google I/O Annual Developers Conference in San Francisco, California. David Paul Morris | Bloomberg | Getty Images

Even as regulators bear down on the top technology companies and some lawmakers seek to break them up, Big Tech is bigger than ever. On Thursday, Alphabet topped $1 trillion in market value, becoming the fourth U.S. technology company to reach that level, after Apple, Microsoft and Amazon, which has slipped back to about $930 billion. Adding Facebook into that group, the five most valuable U.S. tech companies are now worth a staggering $5.2 trillion, accounting for over 17% of the S&P 500, according to FactSet. That’s up from 11% five years ago, with about two-thirds of the value, or $3.5 trillion, accruing over that stretch. Whether at home or in the workplace, the same companies are surrounding us like never before, capturing our attention and increasing amounts of spending from businesses, consumers and advertisers. With all that momentum, investors are mostly shrugging off news of probes by the Department of Justice, Federal Trade Commission and state law enforcement into the potential anti-competitive practices of Big Tech as well as declarations by presidential candidates Elizabeth Warren and Bernie Sanders that the companies should be split apart.

U.S. Senator Bernie Sanders and U.S. Senator Elizabeth Warren speak on the first night of the second 2020 Democratic U.S. presidential debate in Detroit, July 30, 2019. Lucas Jackson | Reuters

Specific to Alphabet, state attorneys general are investigating the dominant search business and the company’s Android operating system, which comes with numerous Google apps pre-installed. Google has continued to thrive despite billions of dollars in past fines from the European Union, while privacy-related regulations like Europe’s General Data Protection Regulation have generally worked in Google’s favor and hurt smaller businesses that have fewer ways to adapt and gather data. “They have the resources and means to be able to meet those needs whereas not every competitor can do that,” said Kevin Walkush, a portfolio manager at Jensen Quality Growth Fund, which oversees about $8.5 billion and counts Alphabet, Microsoft and Apple among its top holdings. For Google, “it has headline risk, but we think they have the resources to meet whatever regulatory hurdles they face. There’s a high likelihood that they could come out better,” Walkush said. Google also had to overcome an abundance of internal turmoil. The company faces an investigation into how executives handled claims of sexual harassment and other misconduct as well as worker protests related to mistrust of leadership and the ways they’ve fired certain employees. None of that has impeded Alphabet’s climb to $1 trillion. The stock rose 0.8% to $1,450.16 on Thursday, and is now up 33% in the past year. Apple, the most valuable U.S. company, has been the top performer in the group, jumping 103%, with Microsoft and Facebook each up over 50%. Ads still account for almost all of Alphabet’s revenue, but the company is investing heavily in cloud infrastructure, where it’s generating over $8 billion in annualized revenue and is third to Amazon and Microsoft. Under the leadership of former Oracle executive Thomas Kurian, Google Cloud has been bulking up through hiring and acquisitions, including the $2.6 billion purchase last year of data analytics company Looker.

Google’s most recent billion-dollar deal wasn’t in online ads or cloud computing. In November, it announced the $2.1 billion purchase of smartwatch maker Fitbit, whose stock price has been crushed in recent years amid competition primarily from the Apple Watch. The Justice Department will reportedly review the deal. Another consumer electronics company that’s struggled for similar reasons is home speaker maker Sonos, which is being pummeled by the proliferation of lower-cost devices from Amazon and Google. Sonos sued Google last week for patent infringement. The complaint alleges that Google copied Sonos’ technology for wireless speaker systems while the two companies were working together as early as 2013. Google disputes the claims. The bigger story Sonos tells in the filing is one that surely resonates with thousands of smaller tech companies struggling to survive in a world where Google, Amazon and Apple can sell products at a loss, killing competitors along the way while sucking vast amounts of data into their orbit. In Sonos’ words: The harm produced by Google’s infringement has been profoundly compounded by Google’s business strategy to use its multi-room audio products to vacuum up invaluable consumer data from users and, thus, further entrench the Google platform among its users and ultimately fuel its dominant advertising and search platforms. In furtherance of this strategy, Google has not merely copied Sonos’s patented technology, it has also subsidized the prices of its patentinfringing products, including at the entry level, and flooded the market. These actions have caused significant damage to Sonos. Even with Alphabet expanding its enterprise software business and building up its roster of gadgets, the ad division continues to chug along and pump out cash. Advertising revenue climbed 17% in the third quarter to $33.9 billion, and Google is gearing up for an event-filled 2020. Mark Mahaney, an analyst at RBC Capital Markets, told CNBC this week that the upcoming presidential elections along with the Summer Olympics in Tokyo and UEFA Euro 2020 (the European soccer tournament) will help drive results for Google and Facebook, the leaders in online ads. “This is a big year for global advertising,” said Mahaney, who has a buy rating on both stocks. “All those are big advertising events. There are two companies I look at — Facebook and Google — that are clear derivative plays off that. Fundamentally, we think they’re really well set up for the year and the quarter.” WATCH: The tech stocks RBC’s Mark Maney say have compelling valuations


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: ari levy
Keywords: news, cnbc, companies, club, worth, big, google, companies, billion, joined, sonos, technology, data, comma, apple, alphabet, company, trillion, tech


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