Adobe's stock jumps to record close as investors cheer cloud transition
- Adobe's six-year transition from packaged software to the cloud has turned it into one of the hottest names in technology and lifted the stock to a record.
- Shares of the software maker, known for products like Photoshop and Acrobat, climbed almost 4% on Friday to $317.94, the highest close in the company's 23 years on the public market.
- Like Microsoft, Adobe has transitioned from the old world of desktop and licensed software to cloud and subscriptions, where consumers can access products from a multitude of devices, paying by the month.
- With a market capitalization of over $150 billion, Adobe is the third most valuable U.S. business software company, behind Microsoft and Oracle.
- Adobe said in its earnings report that it's projecting fiscal 2020 revenue of $13.15 billion, which would represent 18% growth from $11.17 billion in 2019.
- Global Business and Financial News, Stock Quotes, and Market Data and Analysis.
Larry Kudlow: 'We will see if the Chinese stay with their word'
- National Economic Council Director Larry Kudlow maintained a cautious optimism around the trade agreement struck by China and the U.S. China and the U.S. agreed on a phase one trade deal on Friday.
- The agreement — which both sides are aiming to sign in January — includes some tariff relief and a commitment from China to increase its purchases of U.S. agricultural products.
- However, Kudlow noted that discussions over forced technology transfers — a major sticking point of the trade war since it began — may not be over along with talks about intellectual property protections.
- Stocks posted small moves on Friday after investors learned the details of the phase one trade agreement.
- As part of the deal, China will purchase $40 billion in U.S. agricultural products.
- However, Kudlow said those purchases will be made over a two-year period.
- Global Business and Financial News, Stock Quotes, and Market Data and Analysis.
Facebook lost some hard drives in a car break-in, but former employees probably shouldn't worry — here's why
- In fact the announcement is possibly a testament to Facebook's improved transparency on data protection issues, and the heightened regulatory obligations for telling affected people when there data could possibly be viewed by an outside party.
- It follows that the Facebook equipment will probably have had the same fate, it's contents wiped, any identifying stickers removed and then propped up for sale on eBay. They may have simply ended up in a massive Bay Area warehouse, like in this case from 2018, where hundreds of laptops and other equipment that had been stolen in cars were recovered, according to the San Jose Mercury News.
- This has meant that Facebook in particular -- under the microscope as it is -- will probably continue to report every, single arcane and non-impactful security and privacy incident that it experiences as a company.
Bitcoin 101: Your essential guide to cryptocurrency
- But what is Bitcoin all about?
- And what does it mean to you?
- The cryptocurrency is seemingly in the news every day as investors and businesses try to understand the future of this digital finance.
- In The Bitcoin 101 Report, Business Insider Intelligence breaks down how blockchain technology works and details the current and prospective uses of cryptocurrency.
- This exclusive report can be yours for FREE today.
THE FUTURE OF FINTECH 2019: The five megatrends reshaping the financial services value chain
- In only the first quarter of 2019, Apple Card sent a shock wave through the credit card space, FIS' $35 billion Worldpay acquisition set a record in the payments industry, and Fifth Third's acquisition of MB Financial minted a new top-five bank.
- Looking ahead, the mix of investor capital, sweeping global regulations, technological developments, and financial services globalization will promise to ignite more major developments before the year ends.
- The incumbent banking and payment providers presiding over this landscape will face a mounting challenge to keep up.
- Firms must stay ahead of technology demands, preserve their bottom lines, grow their customer bases, and stay on the right side of regulators.
- These companies are reaching ever further across the financial services value chain, from banking to insurance, wealth management, and payments.
- Get the latest Bank of America stock price here.
Ivanka Trump is reportedly a headline speaker at CES 2020, the biggest consumer tech show of the year
- Ivanka Trump will reportedly headline the largest tech trade show of the year in January.
- CNET reports that President Donald Trump's daughter will speak on a panel at CES 2020 alongside Gary Shapiro, the president of the Consumer Technology Association, the organization that puts on the trade show.
- However, it's unclear what Shapiro and Ivanka Trump will discuss on the panel.
- In charge of overseeing the president's job training efforts, Trump appeared alongside Google CEO Sundar Pichai in October when the company announced it was committing to a White House worker initiative.
- However, Ivanka Trump's scheduled panel alongside Shapiro is surprising, given that Shapiro has been an outspoken opponent of the president.
- Shapiro has also publicly rebuked the White House's increase of tariffs on products imported from China, saying the trade war is taking a financial toll on US chipmakers and the nation's tech industry.
Capital One is planning to close its remaining three data centers in 2020
- The primary worries among these professionals is that using the cloud for data storage could lead to data leaks and a lack of control.
- These benefits have been pushing a few major banks, such as Bank of America (BofA) and Chase, to adopt the cloud to varying degrees, but Capital One's dedication to an all-cloud strategy could help it get the most out of cloud computing in the near future.
- But a new cloud from BofA and IBM is on the horizon that could spur strong adoption from other major banks further down the line.
- And BofA's input could help this new cloud enjoy baked-in features — such as automated security tools and top-level encryption — that will reassure banks about the security of their data and the level of control they can exert over it.
Top 14 IoT Trends to Expect in 2020!
- The latest marketing report from Frost & Sullivan Technology Advancements Shaping Big Data Progress suggests that this deadly combination of IoT, Big Data and AI could do wonders in the coming days by developing highly productive applications.
- This is one of the most popular IoT trends that will bring great differences in the field of technology and foster its advanced application to build technical devices.
- But things will surely change, you can expect a better scenario in the next year with the development of robust IoT devices with improved security.
- With the use of AI and Big Data techniques, these IoT trends popping up in the near future will foster improved decision making among market strategists and industry experts.
- At present, various home insurance companies make use of smart sensors and various other connected devices using the internet of things trends.
2020 Democrats weigh in on the biggest issue in tech
- From checking big tech’s power to making sure the internet is equal for all, the 2020 candidates weigh in on the biggest tech issues.
- Bernie Sanders: [I believe] the most important tech-related issue of today is the enormous concentration of economic and political power in the hands of a few massive, unaccountable technology firms.
- We need to pass my Anti-Corruption Plan to clean up Washington and we need to break up big tech — both of these plans will put power in the hands of the American people, where it belongs.
- Certainly we must hold our online platforms accountable, while making sure that technological innovation is an economic accelerator and opportunity equalizer for everyone.
- The United States is also at risk of losing our longtime technological edge to China, which is making record investments in next-generation technologies like artificial intelligence, quantum computing, and nanotechnology.
How 2020 Democratic candidates would regulate facial recognition
- Elizabeth Warren: I’ll establish a task force on digital privacy in public safety to establish guardrails and appropriate privacy protections for this and other surveillance technology, including the use of facial recognition technology and algorithms that exacerbate underlying bias.
- Further, I will direct the Department of Commerce and the Department of Justice to launch an interagency council on technology privacy that will review the public guidance, work with Congress to introduce legislation that regulates evolving technology, oversees the implementation of standards at the federal level, and collaborates on funding opportunities with the Bureau of Justice Assistance and other federal grant-making agencies.
- This department will be tasked with working with government bodies and private industry to monitor and regulate emerging technologies like facial recognition and artificial intelligence.
- Local, state, and federal governments should establish clear policy that captures the benefits of the technology for public safety while addressing very legitimate concerns about privacy and bias.