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Space

Is It Possible to Beam Solar Power From Outer Space? (cnn.com) 130

"[F]or years it was written off," writes CNN. " 'The economics were just way out,' said Martin Soltau, CEO of the UK-based company Space Solar.

"That may now be changing as the cost of launching satellites falls sharply, solar and robotics technology advances swiftly, and the need for abundant clean energy to replace planet-heating fossil fuels becomes more urgent." There's a "nexus of different technologies coming together right now just when we need it," said Craig Underwood, emeritus professor of spacecraft engineering at the University of Surrey in the U.K. The problem is, these technologies would need to be deployed at a scale unlike anything ever done before... "The big stumbling block has been simply the sheer cost of putting a power station into orbit." Over the last decade, that has begun to change as companies such as SpaceX and Blue Origin started developing reusable rockets. Today's launch costs at around $1,500 per kilogram are about 30 times less than in the Space Shuttle era of the early 1980s.

And while launching thousands of tons of material into space sounds like it would have a huge carbon footprint, space solar would likely have a footprint at least comparable to terrestrial solar per unit of energy, if not a smaller, because of its increased efficiency as sunlight is available nearly constantly, said Mamatha Maheshwarappa, payload systems lead at UK Space Agency. Some experts go further. Underwood said the carbon footprint of space-based solar would be around half that of a terrestrial solar farm producing the same power, even with the rocket launch...

There is still a huge gulf between concept and commercialization. We know how to build a satellite, and we know how to build a solar array, Maheshwarappa said. "What we don't know is how to build something this big in space..." Scientists also need to figure out how to use AI and robotics to construct and maintain these structures in space. "The enabling technologies are still in a very low technology readiness," Maheshwarappa said. Then there's regulating this new energy system, to ensure the satellites are built sustainably, there's no debris risk, and they have an end-of-life plan, as well as to determine where rectenna sites should be located. Public buy-in could be another huge obstacle, Maheshwarappa said. There can be an instinctive fear when it comes to beaming power from space.

But such fears are unfounded, according to some experts. The energy density at the center of the rectenna would be about a quarter of the midday sun. "It is no different than standing in front of a heat lamp," Hajimiri said.

The article argues that governments and companies around the world "believe there is huge promise in space-based solar to help meet burgeoning demand for abundant, clean energy and tackle the climate crisis." And they cite several specific examples:
  • In 2020 the U.S. Naval Research Lab launched a module on an orbital test vehicle, to test solar hardware in space conditions.
  • This year Caltech electrical engineering professor led a team that successfully launched a 30-centimeter prototype equipped with transmitters — and successfully beamed detectable energy down to earth.
  • The U.S. Air Force Research Lab plans to launch a small demonstrator in 2025.
  • Europe's its Solaris program aims to prove "the technical and political viability of space-based solar, in preparation for a possible decision in 2025 to launch a full development program."
  • One Chinese spacecraft designer and manufacturer hopes to send a solar satellite into low orbit in 2028 and high orbit by 2030, according to a 2022 South China Morning News report.

Transportation

UK Startup Develops Low Carbon Jet Fuel Made From Human Waste (bbc.com) 41

Chemists at a lab in Gloucertershire have developed a low carbon jet fuel made entirely from human sewage. James Hygate, Firefly Green Fuels CEO, said: "We wanted to find a really low-value feedstock that was highly abundant. And of course poo is abundant." The BBC reports: Independent tests by international aviation regulators found it was nearly identical to standard fossil jet fuel. Firefly's team worked with Cranfield University to examine the fuel's life cycle carbon impact. It concluded that Firefly's fuel has a 90% lower carbon footprint than standard jet fuel. Mr Hygate, who has been developing low-carbon fuels in Gloucestershire for 20 years, said although the new fuel was chemically just like fossil-based kerosene, it "has no fossil carbon, it's a fossil-free fuel."

"Of course energy would be used (in production), but when looking at the fuel's life cycle, a 90% saving is mind-blowing, so yes, we have to use energy but it is much lower compared to the production of fossil fuels," he added. [...] First, they create what they call "bio-crude." It looks like oil: thick, black, gloopy. Most importantly, it behaves like crude oil chemically. Dr Sergio Lima, who is also research director at Firefly Green Fuels, said: "What we are producing here is a fuel which is net zero." [...] The bio-kerosene is now being tested independently at the DLR Institute of Combustion Technology at the German Aerospace Center, working with Washington State University. Further future testing will also be carried out by the UK SAF (Sustainable Aviation Fuels) clearing House, based at University of Sheffield. First results have confirmed the fuel has near-identical chemical composition to A1 fossil jet fuel. The UK Department of Transport has awarded the team a 2 million pound research grant.

So they can make a test tube of kerosene in the lab. That is a long way from replacing kerosene in the world's airports. Mr Hygate has done his maths. Each human, he calculates, makes enough sewage in a year to produce 4-5 liters of bio jet fuel. To fly a passenger jet from London to New York would need the annual sewage of 10,000 people. And another 10,000 to come back. Put another way, the UK's total sewage supply would meet about 5% of the country's total aviation fuel demand. It may sound small, but he insists: "That's pretty exciting." "There's a 10% sustainable aviation fuel requirement, that's a legal mandate. And we could meet half of that with poo."

Patents

Scientists Still Shoot For the Moon With Patent-Free Covid Drug 11

An anonymous reader quotes a report from Bloomberg, written by Naomi Kresge: In the early days of the Covid-19 pandemic, hundreds of scientists from all over the world banded together in an open-source effort to develop an antiviral that would be available for all. They could never have anticipated the many roadblocks they would face along the way, including the Russian invasion of Ukraine, which made refugees out of a group of Kyiv chemists who were doing important work for the project. The group, which called itself Covid Moonshot, hasn't given up on its effort to introduce a more affordable, patent-free treatment for the virus. Their open-source Covid antiviral, now funded by Wellcome, is on track to be ready for human testing within the next year and a half, according to Annette von Delft, a University of Oxford scientist and one of the Moonshot group's leaders. More early discovery work on a range of potential inhibitors for other viruses is also still going on and being funded by a US government grant.

"It's a bit like a proof of concept," von Delft says, for bringing a patent-free experimental drug into the clinic, a model that could be repurposed as a tool to fight neglected tropical diseases or antimicrobial resistance, or prepare for future pandemics. "Can we come up with a strategic model that can help those kinds of compounds with less of a business case along?" Of course, there was definitely a business case for a Covid antiviral, and some of the biggest drugmakers rushed to develop them. In 2022, Pfizer Inc.'s Paxlovid was one of the world's best-selling medicines with $18.9 billion in revenue. Demand has since cratered for the pill, which needs to be given shortly after infection and can't be taken alongside a number of other commonly prescribed medicines. Analysts expect the Paxlovid revenue to plunge just shy of $1 billion this year.

However, there is still a need for a better Covid antiviral, particularly in countries where access to the Pfizer pill is limited, according to von Delft. Covid cases have surged again this holiday season, with the rise of a new variant called JN.1 reminding us that the virus is still changing to evade the immunity we've built up so far. Just before Christmas, UK authorities said about one in every 24 people in England and Scotland had the disease. An accessible antiviral could help people return to work more quickly, and it could also be tested as a potential treatment for long Covid. "We know from experience in viral disease that there will be resistance variants evolving over time," von Delft said. "We'll need more than one."
United Kingdom

Retailers To Pay For Consumers' E-waste Recycling From 2026 Under UK Plans (theguardian.com) 47

British households will benefit from improved routes for recycling electronic goods from 2026, under government plans to have producers and retailers pay for household and in-store collections. From a report: Consumers would be able to have electrical waste (e-waste) -- from cables to toasters and power tools -- collected from their homes or drop items off during a weekly shop, the Department for Environment, Food and Rural Affairs (Defra) said in a consultation published on Thursday. The ambition is for retailers, rather than the taxpayer, to pick up the tab for these new ways of disposing of defunct, often toxic products safely. The measures are due to come into force in two years' time.

Almost half a billion small electrical items ended up in landfill last year, according to data from the not-for-profit Material Focus. This problem was particularly acute during Christmas, when 500 tonnes of Christmas lights were thrown away, the government said. [...] Measures aimed at easing the problem of electronic waste now include requiring larger retailers to create "collection drop points for electrical items in-store" for free, and without the need to exchange this with a new purchase. From 2026 onward, bricks-and-mortar retailers and online sellers would have to collect any broken or rejected large electrical goods including fridges or cookers when they are delivering a replacement product, Defra said.

United Kingdom

UK Students Launch Barclays 'Career Boycott' Over Bank's Climate Policies (theguardian.com) 47

Hundreds of students from leading UK universities have launched a "career boycott" of Barclays over its climate policies, warning that the bank will miss out on top talent unless it stops financing fossil fuel companies. From a report: More than 220 students from Barclays' top recruitment universities, including Oxford, Cambridge, and University College London, have sent a letter to the high street lender, saying they will not work for Barclays and raising the alarm over its funding for oil and gas firms including Shell, TotalEnergies, Exxon and BP. "Your ambitious decarbonisation targets are discredited by your absence of action and the roster of fossil fuel companies on your books," the letter said. "You may say you're working with them to help them transition, but Shell, Total and BP have all rowed back."

Large oil firms have started to water down climate commitments, including BP, which originally pledged to lower emissions by 35% by 2030 but is now aiming for a 20% to 30% cut instead. Meanwhile, ExxonMobil quietly withdrew funding for plans to use algae to create low-carbon fuel, while Shell announced it would not increase its investments in renewable energy this year, despite earlier promises to slash its emissions. The letter calls on Barclays to end all financing and underwriting of oil and gas companies -- not only their projects -- and to boost funding of firms behind wind and solar energy significantly.

AI

ChatGPT Exploit Finds 24 Email Addresses, Amid Warnings of 'AI Silo' (thehill.com) 67

The New York Times reports: Last month, I received an alarming email from someone I did not know: Rui Zhu, a Ph.D. candidate at Indiana University Bloomington. Mr. Zhu had my email address, he explained, because GPT-3.5 Turbo, one of the latest and most robust large language models (L.L.M.) from OpenAI, had delivered it to him. My contact information was included in a list of business and personal email addresses for more than 30 New York Times employees that a research team, including Mr. Zhu, had managed to extract from GPT-3.5 Turbo in the fall of this year. With some work, the team had been able to "bypass the model's restrictions on responding to privacy-related queries," Mr. Zhu wrote.

My email address is not a secret. But the success of the researchers' experiment should ring alarm bells because it reveals the potential for ChatGPT, and generative A.I. tools like it, to reveal much more sensitive personal information with just a bit of tweaking. When you ask ChatGPT a question, it does not simply search the web to find the answer. Instead, it draws on what it has "learned" from reams of information — training data that was used to feed and develop the model — to generate one. L.L.M.s train on vast amounts of text, which may include personal information pulled from the Internet and other sources. That training data informs how the A.I. tool works, but it is not supposed to be recalled verbatim... In the example output they provided for Times employees, many of the personal email addresses were either off by a few characters or entirely wrong. But 80 percent of the work addresses the model returned were correct.

The researchers used the API for accessing ChatGPT, the article notes, where "requests that would typically be denied in the ChatGPT interface were accepted..."

"The vulnerability is particularly concerning because no one — apart from a limited number of OpenAI employees — really knows what lurks in ChatGPT's training-data memory."

And there was a broader related warning in another article published the same day. Microsoft may be building an AI silo in a walled garden, argues a professor at the University of California, Berkeley's school of information, calling the development "detrimental for technology development, as well as costly and potentially dangerous for society and the economy." [In January] Microsoft sealed its OpenAI relationship with another major investment — this time around $10 billion, much of which was, once again, in the form of cloud credits instead of conventional finance. In return, OpenAI agreed to run and power its AI exclusively through Microsoft's Azure cloud and granted Microsoft certain rights to its intellectual property...

Recent reports that U.K. competition authorities and the U.S. Federal Trade Commission are scrutinizing Microsoft's investment in OpenAI are encouraging. But Microsoft's failure to report these investments for what they are — a de facto acquisition — demonstrates that the company is keenly aware of the stakes and has taken advantage of OpenAI's somewhat peculiar legal status as a non-profit entity to work around the rules...

The U.S. government needs to quickly step in and reverse the negative momentum that is pushing AI into walled gardens. The longer it waits, the harder it will be, both politically and technically, to re-introduce robust competition and the open ecosystem that society needs to maximize the benefits and manage the risks of AI technology.

Television

'Doctor Who' Christmas Special Streams on Disney+ and the BBC (cnet.com) 65

An anonymous Slashdot reader shared this report from CNET: Marking its 60th year on television, the British time-travel series will close out 2023 with one last anniversary special that arrives on Christmas Day. Ncuti Gatwa's Doctor helms the Tardis in The Church on Ruby Road, which centers on an abandoned baby who grows up looking for answers... Disney Plus will stream Doctor Who: The Church on Ruby Road on Monday, Dec. 25, at 12:55 p.m. ET (9:55 a.m. PT) in all regions except the UK and Ireland, where it will air on the BBC. In case you missed it, viewers can also watch David Tennant starring in the other three anniversary specials: The Star Beast, Wild Blue Yonder and The Giggle. All releases are available on Disney Plus.
But what's interesting is CNET goes on to explain "why a VPN could be a useful tool." Perhaps you're traveling abroad and want to stream Disney Plus while away from home. With a VPN, you're able to virtually change your location on your phone, tablet or laptop to get access to the series from anywhere in the world. There are other good reasons to use a VPN for streaming too. A VPN is the best way to encrypt your traffic and stop your ISP from throttling your speeds...

You can use a VPN to stream content legally as long as VPNs are allowed in your country and you have a valid subscription to the streaming service you're using. The U.S. and Canada are among the countries where VPNs are legal

Education

Microsoft President Brad Smith Quietly Leaves Board of Nonprofit Code.org 4

Longtime Slashdot reader theodp writes: Way back in September 2012, Microsoft President Brad Smith discussed the idea of "producing a crisis" to advance Microsoft's "two-pronged" National Talent Strategy to increase K-12 CS education and the number of H-1B visas. Not long thereafter, the tech-backed nonprofit Code.org (which promotes and provides K-12 CS education and is led by Smith's next-door neighbor) and Mark Zuckerberg's FWD.us PAC (which lobbied for H-1B reform) were born, with Smith on board both. Over the past 10+ years, Smith has played a key role in establishing Code.org's influence in the new K-12 CS education "grassroots" movement, including getting buy-in from three Presidential administrations -- Obama, Trump, and Biden -- as well as the U.S. Dept. of Education and the nation's Governors.

But after recent updates, Code.org's Leadership page now indicates that Smith has quietly left Code.org's Board of Directors and thanks him for his past help and advice. Since November (when archive.org indicates Smith's photo was yanked from Code.org's Leadership page), Smith has been in the news in conjunction with Microsoft's relationship with another Microsoft-bankrolled nonprofit, OpenAI, which has come under scrutiny by the Feds and in the UK. Smith, who noted he and Microsoft helped OpenAI and CEO Sam Altman craft messaging ahead of a White House meeting, announced in a Dec. 8th tweet that Microsoft will be getting a non-voting OpenAI Board seat in connection with Altman's return to power (who that non-voting Microsoft OpenAI board member will be has not been announced).

OpenAI, Microsoft, and Code.org teamed up in December to provide K-12 CS+AI tutorials for this December's AI-themed Hour of Code (the trio has also partnered with Amazon and Google on the Code.org-led TeachAI initiative). And while Smith has left Code.org's Board, Microsoft's influence there will live on as Microsoft CTO Kevin Scott -- credited for forging Microsoft's OpenAI partnership -- remains a Code.org Board member together with execs from other Code.org Platinum Supporters ($3+ million in past 2 years) Google and Amazon.
United Kingdom

Women In IT Are On a 283-Year March To Parity, BCS Warns (theregister.com) 197

An anonymous reader quotes a report from The Register: It will take 283 years for female representation in IT to make up an equal share of the tech workforce in the UK, according to a report from the British Computer Society, the chartered institute for IT (BCS). BCS has calculated that based on trends from 2005 to 2022, it would take nearly three centuries for the representation of women in the IT workforce -- currently 20 percent -- to reach the average representation across the whole UK workforce, currently at 48 percent. BCS's annual Diversity Report also found that progress towards the gender norm was stalling in IT jobs. Between 2018 and 2021, the proportion of women tech workers rose from 16 percent to 20 percent. But there was no change in 2022, according to BCS analysis of data from the Office for National Statistics.

Julia Adamson, BCS managing director for education and public benefit, said in a statement: "More women and girls need the opportunity to take up great careers in a tech industry that's shaping the world. A massive pool of talent and creativity is being overlooked when it could benefit employers and the economy. There has to be a radical rethink of how we get more women and girls into tech careers, and a more inclusive tech culture is ethically and morally the right thing to do. Having greater diversity means that what is produced is more relevant to, and representative of, society at large. This is crucial when it comes to, for instance, the use of AI in medicine or finance. The fact that 94 percent of girls and 79 percent of boys drop computing at age 14 is a huge alarm bell we must not ignore; the subject should have a broader digital curriculum that is relevant to all young people."

Games

8-Year-Old Chess Prodigy Wins Title At European Championships (bbc.com) 10

Eight-year-old Bodhana Sivanandan from London has been crowned best female chess player at the European blitz championships, scoring 8.5/13 at the event and drawing with a grandmaster in a result described as "unbelievable." The BBC reports: The chess prodigy, who began playing aged five, said she was "proud" of her performance over the weekend. The tournament was held at the blitz time control -- a quick form of chess where players have just minutes on their clocks for their moves. Bodhana's opponents included grandmasters - the highest title given to the world's strongest players -- international masters and experts.

"I always try my best to win, sometimes it happens and sometimes it doesn't," Bodhana told BBC Radio 4's Today program. "I was very proud of myself when I got top girl in the European blitz." Asked if she gets nervous, she replied: "No, I just play the board."

British International Master and commentator Lawrence Trent described Bodhana as "one of the greatest talents I've witnessed in recent memory." "The maturity of her play, her sublime touch, it's truly breath taking," he wrote on X. "I have no doubt she will be England's greatest player and most likely one of the greatest the game has ever seen," Mr Trent added. Bodhana will next compete at the International Chess Congress in Hastings, one of the world's longest running tournaments, on December 28.

Privacy

UK Police To Be Able To Run Face Recognition Searches on 50 Million Driving Licence Holders (theguardian.com) 24

The police will be able to run facial recognition searches on a database containing images of Britain's 50 million driving licence holders under a law change being quietly introduced by the government. From a report: Should the police wish to put a name to an image collected on CCTV, or shared on social media, the legislation would provide them with the powers to search driving licence records for a match. The move, contained in a single clause in a new criminal justice bill, could put every driver in the country in a permanent police lineup, according to privacy campaigners.

Facial recognition searches match the biometric measurements of an identified photograph, such as that contained on driving licences, to those of an image picked up elsewhere. The intention to allow the police or the National Crime Agency (NCA) to exploit the UK's driving licence records is not explicitly referenced in the bill or in its explanatory notes, raising criticism from leading academics that the government is "sneaking it under the radar." Once the criminal justice bill is enacted, the home secretary, James Cleverly, must establish "driver information regulations" to enable the searches, but he will need only to consult police bodies, according to the bill.

United Kingdom

UK Officials Caught Napping Ahead of 2G and 3G Doomsday (theregister.com) 61

A worrying number of UK authorities are still unaware of the impending switch-off of 2G and 3G mobile networks, according to Local Government Association (LGA) figures. From a report: While 38 percent of respondents were fully aware, 27 percent were only partially aware, and 7 percent had no idea at all that the axe would be falling by 2033 at the latest. The numbers worsened when the researchers spoke to respondents in senior management. Almost half (48 percent) were "partially aware" the UK's 2G and 3G mobile networks were due to be switched off and 14 percent were not at all aware.

The actual switch-off will happen over the next few years. UK mobile operators have told government they do not intend to offer 2G and 3G mobile networks past 2033 at the latest, and there is a high likelihood that some networks will be shut down earlier. The UK government said it welcomes plans to end services ahead of time. Vodafone, for example, intends to pull the plug on 3G once and for all from January 2024. Although most consumers, with their 4G and 5G devices, will likely be unaware of the end when it comes, the same cannot be said of local authorities. According to the survey, almost two-thirds of respondents (63 percent) reported that their authority was still using devices or services reliant on 2G and 3G networks.

AI

AI Cannot Be Patent 'Inventor,' UK Supreme Court Rules in Landmark Case (reuters.com) 29

A U.S. computer scientist on Wednesday lost his bid to register patents over inventions created by his artificial intelligence system in a landmark case in Britain about whether AI can own patent rights. From a report: Stephen Thaler wanted to be granted two patents in the UK for inventions he says were devised by his "creativity machine" called DABUS. His attempt to register the patents was refused by Britain's Intellectual Property Office on the grounds that the inventor must be a human or a company, rather than a machine. Thaler appealed to the UK's Supreme Court, which on Wednesday unanimously rejected his appeal as under UK patent law "an inventor must be a natural person."

"This appeal is not concerned with the broader question whether technical advances generated by machines acting autonomously and powered by AI should be patentable," Judge David Kitchin said in the court's written ruling. "Nor is it concerned with the question whether the meaning of the term 'inventor' ought to be expanded ... to include machines powered by AI which generate new and non-obvious products and processes which may be thought to offer benefits over products and processes which are already known." Thaler's lawyers said in a statement that "the judgment establishes that UK patent law is currently wholly unsuitable for protecting inventions generated autonomously by AI machines."

Data Storage

Ministry of Justice Plans To Digitize Then Destroy 100 Million Historical Wills (theguardian.com) 88

"The Ministry of Justice is consulting on digitizing and then throwing away about 100 million paper originals of the last wills and testaments of British people dating back more than 150 years in an effort to save 4.5 million pounds a year," reports Robert Booth via The Guardian. Leading historians are calling these plans "sheer vandalism" and "insane." From the report: Ministers believe digitisation will speed up access to the papers, but the proposal has provoked a backlash among historians and archivists who took to X to decry it as "bananas" and "a seriously bad idea." The government is proposing to keep the originals of some wills of "famous people" -- likely including those of Charles Darwin, Charles Dickens and Diana, Princess of Wales -- but others would be destroyed after 25 years and only a digital copy would be kept. It is feared that wills of ordinary people, some of whom may become historically significant in the future, risk being lost.

Wills are considered essential documents, particularly for social historians and genealogists, as they capture what people considered important at the time and reveal unknown family links. The proposal comes amid growing concern at the fragility of digital archives, after a cyber-attack on the British Library left the online catalogue and digitized documents unavailable to users since late October.
"We are advocates of digitization but not at the cost of destroying originals," says Natalie Pithers, interim co-chief executive of the Society of Genealogists. "In any digitization projects mistakes get made. We don't know what further information could be gained in the future from the original documents. There could be somebody in there who did something extraordinary."
United Kingdom

UK To Introduce Carbon Tax on Steel Imports from 2027 (theguardian.com) 62

Imported raw materials such as steel and cement will incur a new carbon tax from 2027 under UK plans designed to support domestic producers and reduce emissions, but the government is facing criticism for not moving fast enough. From a report: The Treasury said the tax would help address the phenomenon of "carbon leakage," in which UK manufacturers are undercut on price by foreign rivals whose governments do not impose levies on businesses that emit a lot of carbon. The result is that emissions are simply displaced to other countries, while greener UK producers lose out because they have to pay carbon-related charges. The chancellor, Jeremy Hunt, said: "This levy will make sure carbon intensive products from overseas -- like steel and ceramics -- face a comparable carbon price to those produced in the UK, so that our decarbonisation efforts translate into reductions in global emissions. "This should give UK industry the confidence to invest in decarbonisation as the world transitions to net zero."
AI

Deloitte Is Looking To AI To Help Avoid Mass Layoffs in Future (bloomberg.com) 40

The giants of the consulting world face an unusual quandary this year: many of them are in the process of dismissing hundreds of staffers even after they hired thousands of college graduates to deal with new demand. Now, one of the biggest of them all is looking to AI to change that. From a report: Deloitte is using AI to evaluate existing staffers' skills and map out plans that would shift employees away from quieter parts of the business and into roles that are more in demand. It's part of a broader bet by the professional services firm that the technology will allow it to moderate hiring growth over time.

The moves come after Deloitte added 130,000 staffers this year. But in the midst of those hirings, though, the firm warned thousands of staffers in the US and UK that their jobs were at risk of becoming redundant after the company was forced to restructure certain areas of the business in response to a slowdown in demand. "It is obviously a great objective to be able to avoid large swings of hirings and layoffs," said Stevan Rolls, global chief talent officer at Deloitte. "You could always be more efficient and effective about finding the right people."

Businesses

Adobe Abandons $20 Billion Acquisition of Figma (theverge.com) 33

Following mounting pressure from regulators in the UK and EU, Adobe and Figma announced on Monday that both companies are mutually terminating their merger agreement, which would have seen Adobe acquire the Figma product design platform for $20 billion. From a report: As a result of the termination, Adobe will be required to pay Figma a reverse termination fee of $1 billion in cash. "Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently," said Adobe chair and CEO Shantanu Narayen in a statement. "While Adobe and Figma shared a vision to jointly redefine the future of creativity and productivity, we continue to be well positioned to capitalize on our massive market opportunity and mission to change the world through personalized digital experiences."
Businesses

UK Proposes Capping Some Visa, Mastercard Fees (bloomberg.com) 63

Regulators in the UK are weighing a cap on some of the fees that Visa and Mastercard charge local merchants for each card transaction, seeking to rein in charges that have risen fivefold since Brexit. From a report: After a monthslong review, the UK's Payment Systems Regulator said it's concerned that the payment giants have no effective competition, especially when it comes to the interchange fees they charge UK merchants when a consumer carrying a card issued by a bank in the European Economic Area makes an online purchase.

For now, the PSR is proposing to restore those fees to the pre-Brexit levels of 0.3% of a purchase price for credit cards and 0.2% for debit cards. For credit cards, those fees have risen in recent years to as high as 1.5% and the PSR estimated that the increases cost UK businesses as much as $250 million last year. The two companies have been under fire from a bevy of regulators and lawmakers around the world for the fees they charge. While it usually amounts to just pennies per purchase, the fees do add up: US merchants spent a record $160.7 billion on swipe fees last year, up 16.7% from 2021, according to the Nilson Report, an industry publication.

Earth

US Climate Bill 'Ignites New Zeal' Around the World for Government Climate Efforts (politico.com) 47

Politico reports that the climate bill passed in America in 2022 "has ignited a new zeal among leaders around the world for the kind of winner-picking, subsidy-flush governing that has been out of fashion in many countries for the past 40 years."

The bill's "mix of lavish support for clean energy technologies and efforts to box out foreign competitors is also promoting a kind of green patriotism — and even some politicians on the right, at least outside the U.S., say that's a climate message they can sell." [The bill] is having a real-world impact as investors shift their money to the U.S. from abroad, hungry to take advantage of the tax breaks. In July, for example, Swiss solar manufacturer Meyer Burger canned plans to build a factory in Germany, choosing Arizona instead. That has left political leaders across the world with a choice: Grinch and grumble about the United States' sudden clean industry favoritism, or follow suit... Even the United States' favorite pals on the global stage have felt rattled by the sudden diversion from decades of free trading. But in the U.K., European Union and Australia, many leaders are now working on their own versions.
Some examples of upcoming climate actions:

- Australia's Labor party "has budgeted $1.3 billion in spending this year on green hydrogen projects and around $660 million on moving the economy toward electricity rather than fossil fuels."

- The EU will "start operating a border tariff on high-carbon products in 2026, which seeks to keep hold of its heavy industries even as they pay an increasingly punitive price for polluting to the EU Emissions Trading System."

- The UK Labour party plans messaging "that casts the green energy transition as a national mission which can create jobs in former industrial communities."

- In the U.S. the White House says its bill will spur closer to $700 billion — or even $1 trillion — in green incentives over 10 years. "As the White House sees it, the jump means the tax credits for priorities such as homegrown clean power and electric vehicles have proven more popular than initially anticipated."


Taken together, all the bills "reflect the urgency of the problem," Politico argues, "by aiming to transform the economy at a pace the market can't deliver on its own." "We are in the middle of a climate crisis because firms couldn't do the job of decarbonizing," said Todd Tucker, director of industrial policy and trade at the progressive think tank Roosevelt Institute. "The climate crisis is the world's biggest market failure ever and it's going to take really strong public investment."
Microsoft

FTC Wants Microsoft's Relationship With OpenAI Under the Microscope (theregister.com) 13

The FTC is considering an investigation into Microsoft's investment in OpenAI to determine if the company broke any antitrust laws. The Register reports: Despite the money poured into it over the years, OpenAI was founded as a non-profit in 2015, and Microsoft's investment does not amount to control of the company. Microsoft chief communications officer Frank X Shaw underlined attempts to dampen down industry talk of a probe: "While details of our agreement remain confidential, it is important to note that Microsoft does not own any portion of OpenAI and is simply entitled to share of profit distributions."

At the end of last week, the UK's Competition and Markets Authority (CMA) launched a consultation to ask interested parties to comment on Microsoft's relationship with ChatGPT developer, and if it could be construed as a merger that potentially skews competition. If so, the CMA will itself launch an official inspection.

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