China Widens Lead Over US in AI Patents After Beijing Tech Drive

China is increasing its lead over the US in AI patent filings, underscoring the Asian nation’s determination to shape and influence a technology that could have broad implications for the world’s richest economies. From a report: Chinese institutions applied for 29,853 AI-related patents in 2022, climbing from 29,000 the year prior, according to data that the World Intellectual Property Organization provided to Bloomberg News. That’s almost 80% more than US filings, which shrank 5.5%. Overall, China accounted for more than 40% of global AI applications over the past year, the data from the United Nations-affiliated agency showed. Japan and South Korea rounded out the 2022 leaders, with a combined 16,700 applications. The numbers illustrate how Beijing has pushed Chinese companies and agencies to gain an edge in areas such as chipmaking, space exploration and military sciences. More recently, President Xi Jinping has ordered the nation to accelerate fundamental research in response to US efforts to curtail its access to advanced technologies. That’s triggered a flood of investment by Chinese companies in AI and quantum computing.

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Source: Slashdot – China Widens Lead Over US in AI Patents After Beijing Tech Drive

Global Shift To Clean Energy Means Fossil Fuel Demand Will Peak Soon, IEA says

Demand for climate-warming fuels like coal, oil and natural gas will likely peak before 2030, evidence of the accelerating global shift to energy that doesn’t emit greenhouse gasses, according to the International Energy Agency (IEA)’s World Energy Outlook. From a report: “The transition to clean energy is happening worldwide and it’s unstoppable. It’s not a question of ‘if’, it’s just a matter of ‘how soon’ — and the sooner the better for all of us,” said Fatih Birol, IEA executive director, in a statement. The agency represents countries that make up more than 80% of global energy consumption. The annual IEA report estimates that in 2030 there will be 10 times as many electric vehicles on the road worldwide and 50% of the cars sold in the United States will be electric. The agency says solar panels installed across the globe will generate more electricity at the end of the decade than the U.S. power system produces now. And the report projects that renewable energy will supply 50% of the world’s electricity needs, up from about 30% now.

But the report warns the pace of the transition will have to quicken considerably in order to limit global warming to 1.5 degrees Celsius, or 2.7 degrees Fahrenheit, and avoid some of the worst case scenarios in a changing climate. The IEA’s outlook lays out a strategy for meeting that goal that includes tripling renewable energy, doubling energy efficiency measures and slashing methane emissions from fossil fuel operations by 75% by 2030. Methane has more than 25 times the climate-warming potential of carbon dioxide, according to the Environmental Protection Agency. Climate and anti-fossil fuel groups say the IEA’s methane strategy should be even more aggressive.

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Source: Slashdot – Global Shift To Clean Energy Means Fossil Fuel Demand Will Peak Soon, IEA says

UK Set To Reject Big Tech Call for Antitrust Appeals Route

UK ministers are poised to reject Big Tech calls for greater scope to appeal against decisions made by the country’s antitrust regulator under new digital markets rules, Bloomberg News reported Tuesday, citing people familiar with the matter. From the report: The government plans to use the new Digital Markets Unit within the regulator, the Competition and Market Authority, to apply extra scrutiny to companies such as Alphabet and Meta Platforms, and to curb their dominance. The division is expected to have powers to fine internet firms in a bid to protect consumers, and it may allow smaller companies to access the data held by bigger ones. It could lead to tech companies compensating media outlets for carrying news stories.

Under existing plans, challenges to DMU rulings would only cover whether the CMA followed the correct procedure when making its decisions. But tech companies have lobbied to be able to appeal decisions on a “full merits” basis that would include examining the regulator’s assumptions and underlying evidence also. Ministers, however, are set to rebuff the demands of the tech companies, because they are concerned the proposals would make it harder for smaller companies to challenge their bigger rivals, according to the people, who asked not to be named because a final decision hasn’t yet been made.

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Source: Slashdot – UK Set To Reject Big Tech Call for Antitrust Appeals Route

PetroChina Completes First International Crude Oil Trade In Digital Yuan

An anonymous reader quotes a report from CoinDesk: Chinese oil and gas company PetroChina (0857) has completed the first international crude oil trade using the country’s central bank digital currency (CBDC), the e-CNY, China Daily reported on Saturday. PetroChina bought 1 million barrels of crude oil settled in e-CNY, or digital yuan, at the Shanghai Petroleum and Natural Gas Exchange (SHPGX) on Oct. 18, according to the report by the Chinese Communist Party-owned newspaper. The SHPGX did not disclose the exact value of the deal nor the seller’s identity.

China’s government may wish to use the e-CNY as a tool for expanding the international use of its currency, also known as the renminbi, so using it to settle purchases of major global commodities like crude oil would be one way to underpin this expansion. While almost all the world’s major economies are at least looking at developing a CBDC, China’s is comfortably among the most advanced. Transactions using the currency hit 1.8 trillion yuan ($250 billion) as of the end of June, with e-CNY accounting for 0.16% of the cash in circulation.

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Source: Slashdot – PetroChina Completes First International Crude Oil Trade In Digital Yuan

Amazon's Live-Action Fallout Series Will Start Streaming In 2024

Amazon has revealed that Fallout — a live-action adaptation of Bethesda’s popular RPG video game franchise — will premiere on April 12th, 2024, exclusively via Prime Video. The Verge reports: The announcement was made on October 23rd, otherwise known to Fallout fans as “Fallout Day” — the in-game date that marks the beginning of the Great War that turns the world into an irradiated nuclear wasteland. Bethesda’s executive producer and game director Todd Howard is an executive producer on the series, which stars Ella Purnell (Yellowjackets), Walton Goggins (The Hateful Eight), Aaron Moten (Emancipation), Moises Arias (The King of Staten Island), Kyle MacLachlan (Twin Peaks), and Sarita Choudhury (Homeland).

Alongside the premiere announcement itself (which was amusingly presented as an interactive Pip-Boy interface graphic), Amazon said in a press release that the show will be an original story set in a future, post-apocalyptic version of Los Angeles and will be considered a canonical addition to the existing game franchise. We do not currently know how many episodes will be in the series or what the release schedule will look like following the premiere.

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Source: Slashdot – Amazon’s Live-Action Fallout Series Will Start Streaming In 2024

Scientists Create World's Most Water-Resistant Surface

Sammy Gecsoyler reports via The Guardian: A research team in Finland, led by Robin Ras, from Aalto University, and aided by researchers from the University of Jyvaskyla, has developed a mechanism to make water droplets slip off surfaces with unprecedented efficacy. Cooking, transportation, optics and hundreds of other technologies are affected by how water sticks to surfaces or slides off them, and adoption of water-resistant surfaces in the future could improve many household and industrial technologies, such as plumbing, shipping and the auto industry. The research team created solid silicon surfaces with a “liquid-like” outer layer that repels water by making droplets slide off surfaces. The highly mobile topcoat acts as a lubricant between the product and the water droplets.

Sakari Lepikko, the lead author of the study, which was published in Nature Chemistry on Monday, said: “Our work is the first time that anyone has gone directly to the nanometer-level to create molecularly heterogeneous surfaces.” By carefully adjusting conditions, such as temperature and water content, inside a reactor, the team could fine-tune how much of the silicon surface the monolayer covered. Using the new method, the team ended up creating the slipperiest liquid surface in the world. According to Lepikko, the discovery promises to have implications wherever droplet-repellent surfaces are needed. This covers hundreds of examples from daily life to industrial environments.

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Source: Slashdot – Scientists Create World’s Most Water-Resistant Surface

New Data Poisoning Tool Lets Artists Fight Back Against Generative AI

An anonymous reader quotes a report from MIT Technology Review: A new tool lets artists add invisible changes to the pixels in their art before they upload it online so that if it’s scraped into an AI training set, it can cause the resulting model to break in chaotic and unpredictable ways. The tool, called Nightshade, is intended as a way to fight back against AI companies that use artists’ work to train their models without the creator’s permission. Using it to “poison” this training data could damage future iterations of image-generating AI models, such as DALL-E, Midjourney, and Stable Diffusion, by rendering some of their outputs useless — dogs become cats, cars become cows, and so forth. MIT Technology Review got an exclusive preview of the research, which has been submitted for peer review at computer security conference Usenix.

AI companies such as OpenAI, Meta, Google, and Stability AI are facing a slew of lawsuits from artists who claim that their copyrighted material and personal information was scraped without consent or compensation. Ben Zhao, a professor at the University of Chicago, who led the team that created Nightshade, says the hope is that it will help tip the power balance back from AI companies towards artists, by creating a powerful deterrent against disrespecting artists’ copyright and intellectual property.

Zhao’s team also developed Glaze, a tool that allows artists to “mask” their own personal style to prevent it from being scraped by AI companies. It works in a similar way to Nightshade: by changing the pixels of images in subtle ways that are invisible to the human eye but manipulate machine-learning models to interpret the image as something different from what it actually shows. The team intends to integrate Nightshade into Glaze, and artists can choose whether they want to use the data-poisoning tool or not. The team is also making Nightshade open source, which would allow others to tinker with it and make their own versions. The more people use it and make their own versions of it, the more powerful the tool becomes, Zhao says. The data sets for large AI models can consist of billions of images, so the more poisoned images can be scraped into the model, the more damage the technique will cause.

Nightshade exploits a security vulnerability in generative AI models, one arising from the fact that they are trained on vast amounts of data — in this case, images that have been hoovered from the internet. Nightshade messes with those images. Artists who want to upload their work online but don’t want their images to be scraped by AI companies can upload them to Glaze and choose to mask it with an art style different from theirs. They can then also opt to use Nightshade. Once AI developers scrape the internet to get more data to tweak an existing AI model or build a new one, these poisoned samples make their way into the model’s data set and cause it to malfunction. Poisoned data samples can manipulate models into learning, for example, that images of hats are cakes, and images of handbags are toasters. The poisoned data is very difficult to remove, as it requires tech companies to painstakingly find and delete each corrupted sample. Nightshade is going to make AI companies think twice, “because they have the possibility of destroying their entire model by taking our work without our consent,” says Eva Toorenent, an illustrator and artist who has used Glaze.

“I’m just really grateful that we have a tool that can help return the power back to the artists for their own work,” added Autumn Beverly, another artist.

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Source: Slashdot – New Data Poisoning Tool Lets Artists Fight Back Against Generative AI

Millions of Smart Meters Will Be Defunct When 2G and 3G Turns Off

Paul Kunert reports via The Register: A gaggle of MPs are calling for government to put together a timetable for the replacement of millions upon millions of smart meters that will be defunct when 2G and 3G mobile networks are switched off. The Public Accounts Committee (PAC) comprised of cross-party MPs penned a report to update the rollout of the smart meters, with multiple deadlines missed along the way of the $17 billion billion project. The report echoes an earlier one by the National Audit Office (NAO), which found that as of March 2023, energy companies had rolled out the devices to just 57 percent (roughly 32.4 million out of a potential install base of 57.1 million) homes and businesses. Of these devices, around 9 percent were not functioning properly.

The PAC says in its latest report: “A fifth more (an estimated seven million) will lose functionality when the 2G and 3G mobile communications networks are closed if they do not receive costly hardware upgrades (the cost of which will ultimately be borne by the billpayers).” UK comms regulator Ofcom announced last month that UK mobile operators do not intend to provide 2G and 3G mobile networks past 2033. “The switch-off will affect customers using older mobile devices and services.” The PAC wants to know what the Department for Energy Security and Net Zero (DESNZ), as well as energy regulator Ofgem, are doing to plan the smooth running of a replacement scheme.

It asks both to set out “what they will do to ensure suppliers assign more importance than at present to replacing those smart meters not functioning properly” and “a timetable for replacing the communication hub element of smart meters that will lose functionality when the 2G and 3G mobile networks are switched off.” […] The PAC also want DESNZ and Ofgem to outline “measures to ensure that suppliers use future-proofed technology — for example, by excluding 2G or 3G connectivity — in all new smart meter installations.” And it wants the department and the energy watchdog to detail program costs to Parliament on an annual basis to inform decisions about the rollout.

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Source: Slashdot – Millions of Smart Meters Will Be Defunct When 2G and 3G Turns Off

1Password Discloses Security Incident Linked To Okta Breach

Lawrence Abrams reports via BleepingComputer: 1Password, a popular password management platform used by over 100,000 businesses, suffered a security breach after hackers gained access to its Okta ID management tenant. “We detected suspicious activity on our Okta instance related to their Support System incident. After a thorough investigation, we concluded that no 1Password user data was accessed,” reads a very brief security incident notification from 1Password CTO Pedro Canahuati. “On September 29, we detected suspicious activity on our Okta instance that we use to manage our employee-facing apps. We immediately terminated the activity, investigated, and found no compromise of user data or other sensitive systems, either employee-facing or user-facing.”

On Friday, Okta disclosed that threat actors breached its support case management system using stolen credentials. As part of these support cases, Okta routinely asks customers to upload HTTP Archive (HAR) files to troubleshoot customer problems. However, these HAR files contain sensitive data, including authentication cookies and session tokens that can be used to impersonate a valid Okta customer. Okta first learned of the breach from BeyondTrust, who shared forensics data with Okta, showing that their support organization was compromised. However, it took Okta over two weeks to confirm the breach.

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Source: Slashdot – 1Password Discloses Security Incident Linked To Okta Breach

Bitcoin Blasts Past $33,000 As Optimism For BTC Spot ETF Surges

Bitcoin has surged past $33,000 per coin on Monday, rising nearly 11% in 24 hours. According to CoinGecko, the coin is up more than 17% in the past seven days. Decrypt reports: Bulls have flooded the space as talk about a spot Bitcoin ETF has investors hopeful that the long-awaited crypto product will soon get approval from the U.S. Securities and Exchange Commission. A Monday CoinShares report showed that institutional investors are pouring money into the space; JPMorgan analysts said last week that a spot Bitcoin ETF could be approved by Christmas.

High-profile investment firms that have applied to the SEC for a spot ETF are fine tuning their applications in the hope that the regulator will give them the green light. Investors have been hungry for a spot Bitcoin ETF for the best part of a decade but Wall Street’s biggest regulator experts say has denied applications for such a product, mostly citing the potential for market manipulation as one of the main reasons.

But analysts are now more optimistic than ever before: BlackRock, world’s biggest fund manager, applied for a Bitcoin ETF of its own. Not long after, manager Grayscale scored a victory against the SEC when a federal judge sided with the firm over its application to convert its flagship Bitcoin fund into an ETF.

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Source: Slashdot – Bitcoin Blasts Past ,000 As Optimism For BTC Spot ETF Surges

US Wants To Officially Treat Crypto Anonymity Services As Suspected Money Launderers

An anonymous reader quotes a report from Wired: Hamas’ attacks against Israel on October 7 have shifted the geopolitical landscape and triggered a looming Israeli ground assault in the Gaza Strip. Now the ripple effects are reaching the cryptocurrency industry, where they’ve become the United States Department of the Treasury’s rallying cry for a crackdown on cryptocurrency anonymity services. The US Treasury’s Financial Crimes Enforcement Network (FinCEN) [on October 19th] released a set of proposed rules that would designate foreign cryptocurrency “mixers” — services that blend users’ digital funds to offer more anonymity and make them harder to trace — as money laundering tools that pose a threat to national security and would thus face new sanctions and regulations. The new rules, if adopted following a 90-day period of public comment and debate, would potentially represent the broadest restrictions imposed yet on the mixing services and could make it far harder for cryptocurrency holders to put their money through the services before cashing it out at a US cryptocurrency exchange, or even at a foreign exchange that accepts US customers.

While the proposed rules were almost certainly in the works long before October 7, the Treasury’s announcement tied the push for a change in policy directly to the use of cryptocurrency by Hamas and militant groups in Gaza. “The Treasury Department is aggressively combatting illicit use of all aspects of the CVC ecosystem by terrorist groups,” Wally Adeyemo, deputy secretary of the Treasury, wrote in a statement, using the term “CVC” to mean convertible virtual currency. Adeyemo says that this includes Hamas and Palestinian Islamic Jihad, a militant group that often aligns with Hamas, which Israel blamed for an explosion at a hospital in Gaza earlier this week.

Cryptocurrency mixers have existed almost as long as Bitcoin itself. They offer to take in a user’s cryptocurrency, blend it with that of other users, and return the funds so that they are harder to follow from their origin to destination on blockchains, which generally record every transaction in full public view. The Treasury’s rule change would designate those cryptocurrency-mixing services — or at least the majority of them that are based outside the US — as a “primary money laundering concern.” They would thus be considered a threat to US national security as defined by section 311 of the Patriot Act, a section of the law designed to restrict how domestic financial institutions interact with potential sources of terrorist financing. The rule change would mean that US financial services, as well foreign ones with US customers — including cryptocurrency exchanges — would have to go through extra record-keeping and reporting requirements for funds that have touched a foreign cryptocurrency mixer, and it might even allow the Treasury to block US exchanges from handling those funds. “Weâ(TM)ve never seen anything like this before,” says Ari Redbord, the head of global policy for TRM Labs, a blockchain analysis firm. Redbord notes that the rule change isnâ(TM)t proposing a blanket ban on foreign mixing services, only new rules for interacting with them. “The reality, however, is that 311 actions oftentimes have a sort of name-and-shame effect, where people are just not wanting to engage with these platforms out of fear of being caught up in money laundering or other type of illicit activity.”

“I think the challenge for regulators is, how do we thread the needle between stopping illicit actors from using these platforms but at the same time allow regular users to enable some degree of privacy?” Redbord added. “I think the concern is that this could very much be throwing the baby out with the bathwater.”

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Source: Slashdot – US Wants To Officially Treat Crypto Anonymity Services As Suspected Money Launderers

'Pause Ads' Creep Onto Hulu, Peacock and Max As Streamers Seek New Revenue

Brian Steinberg reports via Variety: So-called “pause ads” — they only turn up a few seconds after a viewer has decided to halt the programming, and not every time one does — are seeing new movement in the streaming world, with the format appearing more frequently on Hulu since July, according to Josh Mattison, senior vice president of revenue management and operations for Disney Advertising. Pause ads are also in motion in venues such as NBCUniversal’s Peacock and Warner Bros. Discovery’s Max.

As more media companies seek to goose subscriber rates by offering cheaper ad-supported versions of their streaming services, this type of commercial may become more handy. One of the main attractions of streaming, after all, is that it boasts fewer traditional commercials than its linear TV counterpart. The industry hopes that a pause ad — other “out of pod” commercial experiences are also in development — can appear on screen without upsetting a subscriber who gets viscerally roiled by the prospect of a glut of typical TV spots.

Others have also found ways to work ads into the moments when streaming fans come to a stopping point. NBCUniversal’s Peacock launched with pause ads, says Peter Blacker, executive vice president of streaming and data products for NBCUniversal’s ad-sales division, while Warner Bros. Discovery’s Max introduced them in 2022, says Ryan Gould, head of digital ad sales and client partnerships at the company. No one has been holding back on the new format. Hulu has experimented with pauses since at least 2018, and an early version of the idea surfaced last decade when Coca-Cola and Universal Pictures tested concepts with ReplayTV, an early backer of digital video recording technology. Coke, which once used the slogan “the pause that refreshes” to great effect, and Charmin, the Procter & Gamble toilet tissue that can offer succor during many breaks in TV viewing, tested the format with Hulu in 2019.

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Source: Slashdot – ‘Pause Ads’ Creep Onto Hulu, Peacock and Max As Streamers Seek New Revenue

Nvidia To Make Arm-Based PC Chips

According to Reuters, Nvidia is designing ARM-based processors that would run Microsoft’s Windows operating system. While they’re not expected to be ready until 2025, it poses a major new challenge to Intel which has long dominated the PC industry. From the report: The AI chip giant’s new pursuit is part of Microsoft’s effort to help chip companies build Arm-based processors for Windows PCs. Microsoft’s plans take aim at Apple, which has nearly doubled its market share in the three years since releasing its own Arm-based chips in-house for its Mac computers, according to preliminary third-quarter data from research firm IDC. Advanced Micro Devices also plans to make chips for PCs with Arm technology, according to two people familiar with the matter. Nvidia and AMD could sell PC chips as soon as 2025, one of the people familiar with the matter said. Nvidia and AMD would join Qualcomm, which has been making Arm-based chips for laptops since 2016. At an event on Tuesday that will be attended by Microsoft executives, including vice president of Windows and Devices Pavan Davuluri, Qualcomm plans to reveal more details about a flagship chip that a team of ex-Apple engineers designed, according to a person familiar with the matter.

Nvidia, AMD and Qualcomm’s efforts could shake up a PC industry that Intel long dominated but which is under increasing pressure from Apple. Apple’s custom chips have given Mac computers better battery life and speedy performance that rivals chips that use more energy. Executives at Microsoft have observed how efficient Apple’s Arm-based chips are, including with AI processing, and desire to attain similar performance, one of the sources said. Microsoft has been encouraging the involved chipmakers to build advanced AI features into the CPUs they are designing. The company envisions AI-enhanced software such as its Copilot to become an increasingly important part of using Windows. To make that a reality, forthcoming chips from Nvidia, AMD and others will need to devote the on-chip resources to do so.

“Microsoft learned from the 90s that they don’t want to be dependent on Intel again, they don’t want to be dependent on a single vendor,” said Jay Goldberg, chief executive of D2D Advisory, a finance and strategy consulting firm. “If Arm really took off in PC (chips), they were never going to let Qualcomm be the sole supplier.”

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Source: Slashdot – Nvidia To Make Arm-Based PC Chips

Cleveland Launches Ambitious Plan To Provide Citywide Dirt Cheap Broadband

An anonymous reader quotes a report from Techdirt: Cleveland has spent years being dubbed the “worst connected city in the U.S.” thanks to expensive, patchy, and slow broadband. Why Cleveland broadband sucks so badly isn’t really a mystery: consolidated monopoly/duopoly power has resulted in a broken market where local giants like AT&T and Charter don’t have to compete on price, speeds, availability, customer service, or much of anything else. Data also shows that despite billions in tax breaks, regulatory favors, and subsidies, companies like AT&T have long refused to upgrade low-income and minority Cleveland neighborhoods to fiber. These companies not only engage in this deployment “redlining,” but data also makes it clear they often charge these low income and minority neighborhoods more money for the same or slower broadband.

Last week I spent some time talking to Cleveland city leaders and local activists about their plan to do something about it. On one hand, they’ve doled out $20 million in COVID relief broadband funding to local non-profit DigitalC to deliver fixed wireless broadband at speeds of 100 Mbps for as little as $18. On the other hand, they’ve convinced a company named SiFi Networks to build a $500 million open access fiber network at no cost to taxpayers. SiFi Networks will benefit from a tight relationship with the city, while making its money from leasing access to the network to ISPs. […]

Local activists like DigitalC CEO Joshua Edmonds tell me they hope the project teaches U.S. towns and cities that there are alternatives to being feckless supplicants to regional telecom mono/duopolies: “This is a major victory, and I hope that people don’t look at it as just a major victory for Cleveland. Every city where there’s a prevalent digital divide, where there’s political will and ability to execute, people should be paying close attention to what happens in Cleveland, paying close attention to how DigitalC was able to fight and navigate with our coalition of stakeholders.”

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Source: Slashdot – Cleveland Launches Ambitious Plan To Provide Citywide Dirt Cheap Broadband

Google Play Games for PC is Getting Support for 4K and Some Console Game Controllers

Google is adding some new features to the Google Play Games Beta on PC, its service that lets you play Android games on a PC, including support for 4K screen resolution on “supported monitors” and for popular console gaming controllers. From a report: Google detailed the updates in a blog post from Arjun Dayal, Google Play Games’ director of product. With the new support for 4K, you can now pick your screen resolutions while in game. “Simply press Shift + Tab in any game to select from a menu of supported resolutions,” according to Dayal. The game controllers that are now supported include the Xbox Series X / S controller, the Xbox One controller, Sony’s DualSense controller for PS5, and its DualShock controller for PS4. Google isn’t the only company that’s making it easier to use your other controllers on its platform; Apple added iOS support for the DualSense and Xbox Series X controllers with iOS 14.5, while Valve rolled out DualSense support in Steam in 2020.

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Source: Slashdot – Google Play Games for PC is Getting Support for 4K and Some Console Game Controllers

Big University Endowments Hampered by Startup Write-Downs

The hangover from the bursting of the startup bubble is weighing on big U.S. university endowments, with write-downs in their growth and venture-capital investments driving a second straight year of weak returns. From a report: The Massachusetts Institute of Technology reported a loss of 2.9% and Duke University, a loss of 1% for the fiscal year ending June 30, while endowments at Yale and Stanford gained 1.8% and 4.4%, respectively. The median return for endowments and foundations of more than $1 billion was 5.6%, according to a preliminary estimate from Cambridge Associates.

That was well behind the overall stock market. The MSCI All Country World Index and the S&P 500 gained 17.1% and 19.6% for the period, including dividends, respectively. They were boosted by the rally in tech giants including Microsoft and Nvidia that have benefited from developments in artificial intelligence. Small endowments of less than $500 million, which typically have less exposure to private investments and more to public equities, had a median return of 8.8%, according to Cambridge. “You were at the mercy of portfolio construction,” said Matt Bank of Charlotte, N.C.-based Global Endowment Management, an outsourced investment firm. “Those decisions drove your short-term results, and the specific decisions you made within categories mattered less.” Exposure to China also had a negative impact on returns, several endowment chiefs said.

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Source: Slashdot – Big University Endowments Hampered by Startup Write-Downs

Nestle, Volvo Among 130 Companies Urging COP28 Agreement To Ditch Fossil Fuels

Companies including Nestle, Unilever, Mahindra Group and Volvo Cars are urging political leaders to agree a timeline at the upcoming U.N. climate summit to phase out fossil fuels. From a report: The 131 companies, which have nearly $1 trillion in global annual revenues, wrote in a letter published on Monday that attendees at the COP28 summit must commit to reach 100% decarbonised power systems by 2035 for richer economies, and help developing countries financially so they can ditch fossil fuels by 2040 at the latest. “Our businesses are feeling the impacts and cost of increasing extreme weather events resulting from climate change,” the companies wrote in the letter, which was coordinated by the non-profit We Mean Business Coalition, which is pushing for greater climate action globally.

“To decarbonise the global energy system, we need to ramp up clean energy as fast as we phase out the use and production of fossil fuels,” they wrote. The letter’s 131 signatories, which include Bayer, Heineken, IKEA and Iberdrola, span a range of sectors and include multinationals and small and medium-sized businesses. Companies are increasingly committing to their own timelines for reducing their emissions, but many acknowledge that their ability to slow planet-warming CO2 emissions is contingent on faster action from governments.

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Source: Slashdot – Nestle, Volvo Among 130 Companies Urging COP28 Agreement To Ditch Fossil Fuels

One Month After Experimental Pig Heart Transplant, Doctors Say They See No Signs of Rejection or Infection

One month after an experimental procedure to transplant the heart of a genetically modified pig into a patient with end-stage heart disease, doctors say the heart is functioning on its own and shows no signs of rejection. From a reoport: In September, 58-year-old Lawrence Faucette underwent the surgery, only the second ever performed in a human. Faucette’s heart disease and pre-existing conditions made him ineligible for a traditional human heart transplant. “The physicians taking care of him believe his heart function is excellent,” said Dr. Bartley Griffith, director of the Cardiac and Lung Transplant Program at the University of Maryland School of Medicine who performed the surgery. “We’ve had no evidence of infections and no evidence of rejection right now.”

Dr. Muhammad Mohiuddin, director of UMMC’s Cardiac Xenotransplantation Program, said in an update shared on Friday, “we are withdrawing all the drugs that were initially supporting his heart. So now his heart is doing everything on its own.” Mohiuddin said the focus now is making sure that Faucette has the strength to perform routine functions. “We are working very hard with our physical therapy team who are spending a lot of time helping him regain the strength that he’s lost during last one month of hospital stay,” Mohiuddin said.

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Source: Slashdot – One Month After Experimental Pig Heart Transplant, Doctors Say They See No Signs of Rejection or Infection

Rapid Ice Melt in West Antarctica Now Inevitable, Research Shows

Accelerated ice melt in west Antarctica is inevitable for the rest of the century no matter how much carbon emissions are cut, research indicates. The implications for sea level rise are “dire,” scientists say, and mean some coastal cities may have to be abandoned. From a report: The ice sheet of west Antarctica would push up the oceans by 5 metres if lost completely. Previous studies have suggested it is doomed to collapse over the course of centuries, but the new study shows that even drastic emissions cuts in the coming decades will not slow the melting. The analysis shows the rate of melting of the floating ice shelves in the Amundsen Sea will be three times faster this century compared with the previous century, even if the world meets the most ambitious Paris agreement target of keeping global heating below 1.5C above pre-industrial levels.

Losing the floating ice shelves means the glacial ice sheets on land are freed to slide more rapidly into the ocean. Many millions of people live in coastal cities that are vulnerable to sea level rise, from New York to Mumbai to Shanghai, and more than a third of the global population lives within 62 miles (100km) of the coast. The climate crisis is driving sea level rise by the melting of ice sheets and glaciers and the thermal expansion of sea water. The biggest uncertainty in future sea level rise is what will happen in Antarctica, the scientists say, making planning to adapt to the rise very hard. Researchers said translation of the new findings on ice melting into specific estimates of sea level rise was urgently needed.

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Source: Slashdot – Rapid Ice Melt in West Antarctica Now Inevitable, Research Shows

White House Announces 31 Tech Hubs To Improve American Competitiveness

The White House on Monday announced it is designating 31 technology hubs in an effort to improve American competitiveness in the technology sector. The hubs will be able to compete for $40 million to $75 million each in grants, the White House said. From a report: A tech hub designation is “a strong endorsement of a region’s plan to supercharge a critical technology ecosystem and become a global leader over the next decade,” the U.S. Economic Development Administration said on its website. The move was authorized under the CHIPS and Science Act, the White House said, which President Joe Biden frequently touts as a highlight of his economic agenda. The act, which the president signed in August 2022, aimed to improve semiconductor manufacturing and supply chains in the U.S. It also authorized $10 billion to invest in technology hubs nationwide, according to the administration.

“These Tech Hubs will catalyze investment in technologies critical to economic growth, national security, and job creation, and will help communities across the country become centers of innovation critical to American competitiveness,” the White House said in a news release. The hubs focus on a wide range of technological areas, including quantum computing, artificial intelligence, clean energy, medicine and biotechnology. The location of the hubs spans 32 states and Puerto Rico and include areas with a tribal government, coal communities and states with smaller populations, according to the U.S. Economic Development Administration.

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Source: Slashdot – White House Announces 31 Tech Hubs To Improve American Competitiveness