Surprise! Huawei Can Actually Innovateand Win Fans

Huawei doesn’t leap to mind as an innovative company. In the US, the Chinese telecom giant is best known for the government’s national security concerns—and allegations that it stole intellectual property from companies like Cisco and Motorola. Yet Huawei was the fifth-biggest research and development spender in the world in 2017, according to a European Union report. Its €11.3 billion ($12.9 billion) R&D spend that year outpaced Intel (€10.9 billion), Apple (€9.7 billion), and Nokia (€4.9 billion). Huawei claims its investments over the years have paid off in the form of 87,805 patents—11,152 of which were granted in the US. Now Huawei is trying to turn those patents into cash. This month Reuters reported that Huawei wants Verizon to pay …

Greed Is to Blame for the Radicalization of Social Media

Last week, Reddit quarantined "r/The_Donald," a pro-Trump message board, after the company determined that the subgroup had encouraged and threatened violence. Likewise, Twitter is signaling that it will flag—but not remove—posts by government officials who violate its rules. As with YouTube’s demonetization (rather than deletion) of anti-gay videos, these are welcome, but insufficient measures. Until recently, social media platforms could feign ignorance about the scope and impact of harmful content on their sites. Now bigotry and conspiracy theorizing, which could once be dismissed as the rants of outliers, have hijacked mainstream discourse—including on media produced by President Trump and his allies. As such posts have become some of the most popular, moneymaking content being viewed and shared, social media executives …

Bitcoin surges past $13,000 then sheds about 13%

New York (CNN Business)Bitcoin could be headed for another meteoric rise, but it’s clear the cryptocurrency hasn’t shaken the curse of volatility. BItcoin reached a $10,000 value on Friday for the first time in more than a year. It was likely helped by an announcement from Facebook (FB) last month that the social network planned to debut its own digital currency, called Libra, introducing its 2 billion users to crypto. Libra may hurt bitcoin’s value if it becomes the preferred choice for digital currency users. But the company’s foray into the cryptocurrency industry also renewed discussions among top economic leaders about regulating the industry, which could help legitimize alternative currencies in the eyes of consumers. Jerome Powell, chair of the …

The left is fighting back, even in Republican states, as it attempts to reshape capitalism | Will Hutton

As Trump announces his candidacy, forces are already mustering to confront him Behold the new political yobs. The British and American right, once keen to engage intellectually with the left and firmly anchored in business and the middle class, have now become yobs in their evidence-free, argument-free attitude to trade and foreigners. They are guided by noxious prejudice and the simple rule that their flag and interest must rule whatever. Yobs too in their attitudes to all the decent impulses in society: tolerance; the rule of law (thats for suckers); a welcome to immigrants, fair play; respect for truth, personal integrity. The triumph of the new nativism is the triumph of the yob. Our societies, let alone our politics, have …

A ‘Museum of Weed’ is coming to Hollywood

San Francisco (CNN Business)A 30,000-square-foot cannabis museum is coming to Hollywood. “Frankly, it feels like we’re at an inflection point … where the outcome isn’t fully decided,” Beals said. The exhibits also delve into the minutiae of the cannabis plant via an “interactive Plant Lab.” It won’t be fully interactive, though. No consumption of cannabis nor its various components — including the super-trendy cannabis compound CBD — are allowed. To strike a balance between the Snapchattable and the somber, the company drew from an eclectic mix of existing repositories, such as the Museum of Ice Cream in San Francisco and more culturally specific museums such as those dedicated to civil rights movements. Weedmaps’ multimillion-dollar venture has been more than a …

Huawei Says US Sanctions Will Reduce Revenue by $30 Billion

Huawei may be feeling the sting of US efforts to rein in the Chinese telecom giant. In April, Huawei reported a 39 percent increase in first-quarter revenue, despite US efforts to dissuade allies from doing business with the firm. But the company now expects its revenue to decline to $100 billion this year from $107 billion last year, founder and CEO Ren Zhengfei said during an event Monday. Ren blamed the US decision to add Huawei to a list of companies that are essentially banned from buying US-made technology, including the software and microchips the company uses to build its smartphones and infrastructure gear. The bans will cost Huawei around $30 billion in revenue this year and next, Ren said …

Mayor Pete Enlists a Silicon Valley Vet to Bring In the Money

Presidential campaigns get compared to a lot of things: a marathon, a film. Or a battleship. An iceberg. An "MRI of the soul." More recently, the metaphor of choice has been the tech startup. Even amid a growing backlash to Big Tech, evoking a no-nonsense startup retains some appeal, with its suggestion of scrappy agility, innovation, and single-minded focus. But at least one candidate takes the idea more literally: Pete Buttigieg, the 37-year-old mayor of South Bend, Indiana, whose campaign has rocketed from underdog to top-tier status seemingly overnight. “We want to build a campaign that’s a little disruptive, kind of entrepreneurial. Right now, it feels like a startup,” his campaign manager told the AP earlier this year. To help …

SZA accusation prompts Sephora to close all locations Wednesday for diversity training

(CNN Business)Sephora will close all locations Wednesday to hold diversity training for its staff after R&B singer SZA accused the store of racial profiling in April. Sephora responded to the tweet on May 1 saying, “You are a part of the Sephora family, and we are committed to ensuring every member of our community feels welcome and included at our stores.” In a statement posted to the Sephora Facebook page, the company also announced its new “We Belong to Something Beautiful campaign,” which focuses on inclusion within its staff and toward its customers. Sephora said it “will never stop building a community where diversity is expected, self-expression is honored, all are welcomed, and you are included.” The move toward diversity …

Austerity to blame for 130,000 preventable UK deaths report

Two decades of public health improvements have stalled, says IPPR thinktank More than 130,000 deaths in the UK since 2012 could have been prevented if improvements in reducing preventable disease flatline since 2012. At the same time, local authorities have seen significant cuts to their public health budgets, which has severely impacted the capacity of preventative services. Social conditions for many have failed to improve since the economic crisis, creating a perfect storm that encourages harmful health behaviours. This health challenge will only continue to worsen. The IPPR calls for a radical new prevention strategy involving a renewed and increased commitment to the states role in preventing disease. No longer can we place the burden of responsibility exclusively upon the …

What Amazon Might Want With Boost Mobile

If Sprint and T-Mobile want regulators to approve their $26.5 billion merger, they're going to have to slim down. The carriers have already agreed to spin off Sprint's prepaid wireless service Boost Mobile, Federal Communications Commission chair Ajit Pai said last month. According to Reuters, Boost may already have an unlikely interested buyer: Amazon. Boost, which became part of Sprint after the carrier's merger with Nextel in 2005, delivers its services over Sprint's network. Any new owner would be able to use the new T-Mobile network for six years, Reuters reports. It's also possible that Amazon, or another company, could acquire rights to some of the wireless spectrum now licensed by the FCC to Sprint or T-Mobile, or even some …

Deutsche Bank staff saw suspicious Trump and Kushner activity report

In explosive New York Times report on Russia-linked bank, fired employee says nothing happened after she raised concerns Several financial moves by legal entities controlled by Donald Trump and Jared Kushner between 2016 and 2017 triggered suspicious activity alerts inside Deutsche Bank, a major lender to the Trump family, according to a report in the New York Times. $300m still outstanding. In the House of Representatives, Democrats have been drilling into the link between the Trump Organization and Deutsche Bank. Last month two committees financial services and intelligence counter-attacked by launching a lawsuit against Deutsche Bank in an attempt to stop it complying with the subpoenas. The lawsuit claimed the demand for documents amounted to harassment of the president and …

Electric ‘flying taxi’ prototype unveiled by German start-up

Lilium says electric jet-powered five-seater aircraft could be in service by 2025 A new flying taxi has been unveiled by German start-up Lilium, which claims the vertical take-off craft could be the basis for an on-demand air service within six years. The electric jet-powered five-seater aircraft is designed to travel up to 300km, a journey that would take it an hour at top speed. While a app-based air taxis in multiple cities by 2025. The latest iteration, with room for a pilot and four passengers, will be the template for Liliums mass production model. With sufficient economy of scale, Lilium believes fares would be around $70 (55) per head for a cross-city hop from, for example, JFK airport to Manhattan. …

Melinda Gates Wants Tech to Wake Up to Women’s Empowerment

For almost 20 years, Melinda Gates has been on a mission to make the world better. When she and her husband launched the Bill and Melinda Gates Foundation in 2000, they knew only that they wanted to use their Microsoft wealth to stop children born in poverty from needlessly dying of ailments that were easily cured in developed nations. Since then, their mandate has evolved to include curing disease, developing and delivering new medications, lifting communities out of poverty, and increasing access to opportunity and education. A few years ago, Gates realized one thing unified all those goals: empowering women. She is not alone. Experts working on the world’s biggest problems agree that by helping women, you help everyone. Want …

Facebook Bans Alex Jones, Other Extremistsbut Not as Planned

On Thursday at around 2 pm ET, multiple news outlets simultaneously “broke” a story that six particularly toxic extremists and one conspiracy theorist organization had been banned from Facebook and Instagram. Only, they hadn’t. Stories by CNN, the Verge, The Atlantic, and The Washington Post lauded Facebook for scrubbing the accounts of inflammatory far-right online figureheads like Laura Loomer, Milo Yiannopoulos, and Infowars’ Alex Jones and Paul Joseph Watson from both platforms. Yet those four still had control of their Instagram accounts for nearly an hour after the bans were announced. And Jones’ Facebook page, “Infowars Is Back,” was still online and live-streaming for nearly two hours after the ban was disclosed. Facebook Loomer and Yiannopolous took advantage of the …

Twitter Users Are Richer and More Woke Than the Rest of Us

It's a feeling familiar to anyone who lives an extremely online life. You spend all day on Twitter watching Howard Schultz get roasted and ratioed or retweeting all of the best definitions of the word "covfefe." Then you log off and enter the real world—the one where your spouse, your friends, your parents, and all the other people in your life who don't spend their days obsessively checking their mentions have precisely no idea what you're talking about, let alone why they should care. Most of us know intuitively that Twitter is not an accurate reflection of the world we live in. It's more of a fun house mirror, distorting and exaggerating its subjects to sometimes funny, sometimes frightening effect. …

Trump Evicts Tech Workers, Avengers Return, and More News

Thousands of immigrant tech workers are being sent home under the Trump administration, GoDaddy is out to fight spam, and the Avengers are ready for their End Game. Here's the news you need to know in two minutes or less. Visa rejections for tech workers are soaring under President Trump On the campaign trail, Donald Trump promised to overhaul the H-1B visa program, an important program that draws specialized immigrant talent into American companies. But denial rates for both new applications and extensions have more than doubled since he took office, and thousands of workers who have spent years in the US are now being told to leave, some as soon as the end of the month. GoDaddy axed 15,000 …