Google hit with another fine for anti-competitive behaviour

On March 20, the EU issued Google with a €1.49bn ($1.7bn) fine – the company’s third such penalty in just two years – after accusing the tech giant of blocking rival online search advertisers.

An EU probe found that the firm had used its resources to block other advertisers between 2006 and 2016

An EU probe found that the industry-leading online firm had used its resources to block other advertisers between 2006 and 2016. The tactic appears to have been successful, with Google enjoying an average market share during the decade in question of roughly 85 percent across the European Economic Area, which includes Iceland, Liechtenstein and Norway in addition to the 28 EU nations.

“Google has cemented its dominance in online search adverts and shielded itself from competitive pressure by imposing anti-competitive contractual restrictions on third-party websites,” said EC commissioner Margrethe Vestager. “This is illegal under EU anti-trust rules.” The Commission added that Google’s practices had stifled innovation.

In June 2017, after it was revealed that Google had abused its power by elevating its shopping comparison service to the top of its search results, the EU fined the firm €2.4bn ($2.7bn). Furthermore, last summer, the EU competition authority slapped Google with a record €4.34bn ($4.94bn) fine for using its Android mobile operating system to bolster the dominance of its search engine. Collectively, the tech giant now owes the EU €8.2bn ($9.34bn).

While Google has filed appeals against the two previous EU rulings, it is unclear whether it will contest the latest fine. The penalty brings an end to the third EU investigation into the company, just as Vestager is due to stand down as competition commissioner. Her successor is set to take over in November.

Following the fines, Google has revamped its Android service by offering users a choice of browsers and search apps on their phones. It has also modified the way it arranges search results in Europe. The changes made by Google were labelled a “positive development” by Vestager, who will no doubt be pleased to see that she has helped, somewhat, to level the playing field before her departure.

Rovio receives investment in its ‘Netflix for gaming’ subsidiary

Rovio – best known for creating Angry Birds – has received a boost as it looks to diversify its business offering. On February 6, the Finnish company confirmed that it had received investment in its subsidiary, Hatch Entertainment, from Japan’s leading mobile operator NTT Docomo.

Hatch Entertainment will offer subscribers a rotating mix of games from a range of publishers

The move brings 5G gaming a step-closer for Japanese consumers. Set for a soft launch on Android in Japan later this month, Hatch Entertainment – self-proclaimed as the ‘Netflix of gaming’ – will offer subscribers a rotating mix of games from a range of publishers. New users will be afforded a free 90-day trial membership of Hatch Premium.

So far, the cloud gaming platform is available in the Nordics, the UK and Ireland for Android devices but not iPhones. At present, Apple does not allow streaming services on its app store. However, Rovio is eventually looking to bring the service to all platforms.

“Docomo’s leading contributions to 5G technology and infrastructure, and commitment to amazing new 5G-enabled services, make the company an ideal strategic partner in Japan,” said Juhani Honkala, founder and CEO of Hatch.  “We look forward to a long and fruitful collaboration.”

The size of the investment has not yet been disclosed, with the partnership simply being described as “strategic”. Gaming is an essential part of Japanese culture – the country represents the world’s third largest global gaming market – and many predict that cloud computing to be the next big thing in the industry. In particular, 5G technology is expected to enable gamers to stream AAA titles to their smartphones.

The launch of Hatch Entertainment should also help Rovio stimulate its floundering growth. Having relied heavily on Angry Birds up to this point, and with the gaming sector became ever more competitive, Rovio’s new forward-thinking strategy could slingshot the company to the next level.

Apple to repay 10 years worth of tax in France

Tech giant Apple has reached an agreement to repay a reported €500m ($570m) worth of tax, dating back 10 years. According to an article published by French magazine L’Express on February 5, a deal was struck in secret late last year.

France has previously pushed for a Europe-wide digital tax on tech giants

It follows a similar agreement made in the UK in early 2018, which recuperated £136m ($176m) in taxes from the iPhone maker. While Apple failed to disclose the size of the settlement, it released a statement: “The French tax authority recently concluded a multiyear audit of our French accounts and the adjustment will be reflected in our publicly filed accounts.”

France has previously pushed for a Europe-wide digital tax on tech giants. However, the proposed law has encountered opposition from Nordic countries, which has led to the French government working on a domestic bill instead. The so-called ‘GAFA tax’ will include a charge levied on all digital service providers with a turnover of more than €750m ($855m) worldwide and €25m ($28m) in France. The legislation will likely be voted on next month.

Companies such as Apple tend to base their headquarters in low-tax countries such as Ireland. In 1991, Ireland and Apple made an agreement that enabled the US company to pay between 0.005 and 0.05 percent tax on global sales. The EU, in 2016, classified the scheme as illegal state aid and slapped Apple with a €13bn ($14.8bn) penalty – a ruling that is still being contested today.

In response to the EU’s decision, Apple CEO Tim Cook penned an open letter that read: “Beyond the obvious targeting of Apple, the most profound and harmful effect of this ruling will be on investment and job creation in Europe. Using the commission’s theory, every company in Ireland and across Europe is suddenly at risk of being subjected to taxes under laws that never existed.”

Despite the ongoing wrangling in the Ireland case, the recent agreement between Apple and France represents a victory for European governments fighting for multinational companies to pay a fair contribution. It comes two years after Google successfully challenged the French government regarding €1.12bn ($1.27bn) worth of tax.

Soros uses Davos speech to urge US crackdown on Chinese tech firms

On January 24, Hungarian-US investor and philanthropist George Soros used his annual Davos address to launch a scathing attack on Chinese President Xi Jinping. Soros labelled Xi as “the most dangerous opponent of open societies”.

Soros has long found himself at odds with populist and anti-globalist figures due to his support for liberal causes

The billionaire, known for making his fortune betting against pound sterling in 1992, has frequently used his speeches at the World Economic Forum to denounce those he sees as opponents to an open society. Soros, who founded the Open Society Foundations, has long found himself at odds with populist and anti-globalist figures due to his support for liberal causes.

In particular, Soros focused on the facial recognition systems used in China along with the superpower’s social credit system, which grades people based on their behaviour. Soros believes “the database would give Xi total control over the people”.

He added: “China isn’t the only authoritarian regime in the world, but it’s undoubtedly the wealthiest, strongest and most developed in machine learning and artificial intelligence.”

Having last year used his speech to criticise Donald Trump, Soros offered the US president some words of advice: “My present view is that instead of waging a trade war with practically the whole world, the US should focus on China. Instead of letting [the Chinese tech companies] ZTE and Huawei off lightly, it needs to crack down on them.”

However, the Budapest-born investor could not avoid taking a swipe at Trump. “Regrettably, Trump seems to be following a different course: make concessions to China and declare victory while renewing his attacks on US allies. This is liable to undermine the US policy objective of curbing China’s abuses and excesses.”

Earlier in the conference, Huawei chairman Liang Hua warned that he would shift his business to nations “where we are welcomed”. The Chinese tech giant has had a challenging few months that have strained relations with a number of western governments. In December, Meng Wanzhou, the daughter of Huawei’s founder, was arrested in Canada as part of a US extradition request.

Huawei, which is developing its own 5G technology, has already been blocked by governments in the US, New Zealand and Australia, with others (such as Germany) also considering a ban. While the company faces an uncertain future in the West, it is reported that more than 20 other countries have signed 5G commercial contracts with the firm.

Events at Davos this year have highlighted the growing tensions between China and the West. Although issues surrounding trade continue to be a focal point for disagreements, it is technology that is increasingly driving a wedge between Xi Jinping’s government and the rest of the world.

IBM cloud services drive higher-than-expected Q4 revenues

On January 22, IBM posted above-expectation earnings and revenues for the final quarter of 2018, prompting a seven percent hike in the company’s share price. Recording an income of $21.8bn, the news has boosted investor confidence, with the company looking to move into a new period of growth.

The optimism surrounding the Q4 earnings report owes much to IBM’s cloud computing business

Though revenue did decline for the third consecutive quarter, it still exceeded predictions. “In the quarter we expanded both gross margin and pre-tax income margin,” said James Kavanaugh, Senior Vice President and Chief Financial Officer at IBM. Earnings per share of $4.87 surpassed estimates by five cents.

Over the course of 2018, takings of $79.6bn reflected an increase of one percent year-on-year – though this translated to a flat year when adjusted for currency fluctuations. It marks the first time in a number of years that the company has managed to expand revenue, operating income and earnings per share all at the same time.

The optimism surrounding the Q4 earnings report owes much to IBM’s cloud computing business, which along with social, mobile and analytics made up half of the company’s revenue in 2018. Alone, cloud income of $19.2bn was up 12 percent compared with 2017.

During the final quarter of last year, IBM announced its plan to acquire Red Hat in a deal worth $34bn, incorporating the software company into IBM’s Hybrid Cloud division – a deal that “propels IBM as a leading cloud provider,” according to KeyBanc Capital Markets’ analyst Arvind Ramnani. Back in December, Big Blue also struck a partnership with Samsung to manufacture 7nm chips for the firm’s future technology developments.

IBM has followed last year’s positivity with a lively start to 2019, striking several deals connected to the company’s cloud network. Accompanying the release of the US firm’s Q4 results was the news that BNP Paribas has agreed to extend its contract for a further eight years to continue developments to its cloud strategy.

“Major clients worldwide, such as BNP Paribas, are turning to the IBM Cloud and our unmatched industry expertise to transform their businesses and drive innovation,” commented Ginni Rometty, IBM Chairman, President and CEO.

In January, IBM also confirmed a partnership with Vodafone in support of the next-generation of technological advances. The deal sees Vodafone pay $550m to IBM under an eight-year managed-services agreement. In addition, a $325m contract with Juniper Networks will see IBM assist in managing the technology giant’s existing infrastructure.

Times have been tough for IBM shareholders in recent years. Up until the fourth quarter of 2017, they had to put up with more than five years of falling revenue. The latest earnings report, however, as well as the company’s decision to embrace cloud computing, provides plenty of cause for optimism.

The president of Zimbabwe is being sued over internet shutdown

A group of top Zimbabwean lawyers has asked the country’s high court to declare the closure of the internet illegal after the government blocked access to social media services on two occasions last week.

The shutdown was triggered by ongoing protests against a surge in fuel prices

The Zimbabwe Lawyers for Human Rights and the Zimbabwe outpost of the Media Institute of Southern Africa together filed a petition on January 18 against President Emmerson Mnangagwa and the country’s three internet providers. The legal group is arguing that the move was unconstitutional, inhibiting business operations and even threatening the lives of Zimbabweans.

Internet access in the South-East African country was cut on the morning of January 15 and again on January 18 by the three telecoms firms operating in the region, at the request of Zimbabwean President Emmerson Mnangagwa. According to Reuters, Econet, the country’s largest mobile operator, told its customers by text: “We are obliged to act when directed to do so and the matter is beyond our control.”

Econet said later on January 18 that it had received an instruction from the government to restore internet access, with the exception of some social media applications. It has also said that it will reimburse customers for mobile data that they were unable to use during the shutdown.

The shutdown was triggered by ongoing protests against a surge in fuel prices that have taken the lives of at least 12 people, according to local rights groups. It is alleged that the government is seeking to limit access in order to prevent the transmission of images showing violent action taken by security forces to dispel protestors.

The UN has urged the Zimbabwean Government to end the “excessive use of force” by security forces, which reportedly includes door-to-door searches and the use of live ammunition. “This is not the way to react to the expression of economic grievances by the population,” UN spokesperson Ravina Shamdasani said in a statement on January 18.

The Zimbabwe Human Rights NGO Forum, whose members include MISA and Amnesty International, said in a statement that it had recorded at least 844 human rights abuses during the internet shutdown. It described the blockade as “unwarranted, unjustifiable in the circumstances and… a tool of repression meant to mask the massive human rights violations which the state was preparing to commit.”

The president’s spokesman, George Charamba, told the state-controlled Sunday Mail newspaper that the shutdown was “just a foretaste of things to come,” playing on rising concerns that the country is reverting to dictatorial rule.

Many, including the opposition MDC party, see parallels between the actions of President Mnangagwa and his predecessor Robert Mugabe; this latest restriction of access to the internet and to unbiased information is likely to augment those concerns.

Top 5 tips for building a future-proof supply chain

Traditional supply chains are a thing of the past. Today, retailers must be ready to handle the data supply chain of the future – one that is based on increasing demands from consumers. Amazon has raised the bar for customer expectations; now, consumers demand a wide range of products to be available and expect deliveries to be faster. When consumers have no visibility over when their orders will turn up, they will go elsewhere.

Out of stock items and slow delivery speed are no longer acceptable to keep up with consumers’ demands and expectations

We are currently on an exponential curve of change in the retail sector, and the impact on the supply chain is significant. Existing systems are not fit for purpose. Out of stock items and slow delivery speed are no longer acceptable to keep up with consumers’ demands and expectations. Here we outline five tips for retailers to adapt their supply chains to ensure they can compete in today’s competitive retail environment.

Prioritise convenience
Convenience is at the centre of all this, and it is arguably more important than the product itself. Consumers are now valuing and prioritising convenience, ease and availability. As a result, retailers need to establish better supply chain management methods, such as ‘dropshipping’ (where a store does not keep products in stock but transfers customer orders to a third party), click and collect and next or same day delivery services in order to keep pace with consumers’ ever-increasing demands.

In a new survey, 72 percent of consumers said they want retailers to have full supply chain visibility so they always know where their product is. Establishing these functions is critical for retailers, as customers now want unlimited choice, speed and visibility over orders. Generally, customers now lack loyalty and tend to be incredibly fickle, so getting this right is key.

Provide an omni-channel presence
Retailers are all striving to provide a unified omni-channel presence, where customers can have same the experience regardless of what device they are using and whether the product is coming from a marketplace, ‘dropship’ or directly from the brand itself.

Consumers will now migrate across different channels. In many cases, consumers will do their research in store where they can have a physical experience, and then they will go online to buy that product from the same retailer or marketplace.

Stay in the physical fight
E-commerce giants are increasingly turning to the physical world. Clearly, all retailers have to have some degree of coverage in different channels, whether those channels are in the ascendancy or in decline. We have heard a lot about traditional brick-and-mortar retailers trying to establish online channels, but concurrently, online giants are trying to establish a presence in traditional brick-and-mortar retailing. In July, Amazon announced it was going to publish a holiday toy catalogue to be mailed to millions of households in the US shortly after its $13.7bn (€11.8bn) purchase of Whole Foods.

Despite the emergence of smartphones, children still enjoy searching through toy catalogues, and toys, particularly during Christmas, attract shoppers. Amazon recognises that there are many routes to the market within the omni-channel world we live in. While the catalogue is a declining channel, it is still currently big enough to be relatively interesting to Amazon as it looks to consolidate its grip on the market.

Effectively manage data
If traditional retailers want to compete with Amazon, which is adding 1.3 million products on a daily basis, then the existing methods they use to add products to their systems and platforms has to change.

Often encumbered with legacy systems, retailers need an army of admin staff to upload products, check the product description and physically manage supplier spreadsheets. This is not a scalable and sustainable way to do business.

Speed to market, or the time it takes to get a manufacturer’s product selling on a retailer’s website, is crucial. Entering data manually can create a time lag that represents millions in lost sales. At the same time, trying to rush a broken process can lead to poor data being processed.

Product lifecycle management should be automated so retailers can sell more products and ensure that the product data is accurate to improve the customer experience.

Understand the tech ecosystem
The battlefield isn’t just against online pure plays – technology will also influence and enrich the omni-channel experience. New stores will aim to use radio-frequency identification and augmented reality technologies.

Retailers must think about the architecture of a technology ecosystem that creates best-in-class solutions for their varied and changing requirements. Additionally, they should not solely rely on internal IT team to build solutions in house – there is simply is not the time to do this. Within the retailer, the business must work in collaboration with the internal IT department to ensure that the ecosystem is right and can be managed properly. There is often an ‘us and them’ mentality between these divisions that must be bridged in order to redefine how technology delivers solutions to the new demands imposed by the consumer.

Getting this right is crucial – the dynamics in retail are changing at an unprecedented rate and those who are not reacting to the data revolution are paying a heavy price.

Retailers need to have the necessary adaptability to respond rapidly to market trends and consumer behaviour. The ones that are succeeding in meeting customer demands tend to have the greatest agility, visibility and scalability across their supply chain.

Landmark UN climate report warns of disaster by 2040

According to a report released by the UN’s Intergovernmental Panel on Climate Change (IPCC), the world is on course for a climate catastrophe if we do not keep global warming in check.

The report, which references more than 6,000 scientific works, states that a 1.5-degree temperature rise must be adhered to if we are to protect and preserve our world for future generations. This limit is achievable and affordable, the report says, but will require “rapid, far-reaching and unprecedented changes in all aspects of society”.

Scientists estimate that continuing on our current path would cause $54trn of damage

The 1.5-degree figure is the lower limit set by the Paris climate accord in 2015, which recommended that global warming be kept between 1.5 and two degrees between now and 2040.

Scientists now agree, however, that even a two-degree rise would have disastrous consequences for marine life, coastal cities and sea ice. For instance, a 1.5-degree increase would preserve up to 30 percent of the world’s coral reefs; a two-degree rise, meanwhile, would see 99 percent of reefs irreparably destroyed. Likewise, sea levels would be 10cm higher with a two-degree rise, and would affect 10 million more people.

The world is currently one degree warmer than the pre-industrial level referenced in the Paris Agreement. While that doesn’t seem like a huge figure, the report makes clear that this rise has already accelerated climate change, causing devastating events such as hurricanes in the US, forest fires in the Arctic and record droughts in Cape Town.

The IPCC has mapped out four pathways to achieving the lower-level temperature rise, each with different combinations of technological development and the repurposing of land. Common to all of the plans is reforestation, shifts to electric transport systems and the adoption of carbon capture technology.

According to the report, adhering to the 1.5-degree benchmark will necessitate “annual average investment needs in the energy system of around $2.4trn” between now and 2035. Although a considerable sum, that figure is significantly cheaper than the projected cost if we allow climate change to spiral out of control. Scientists estimate that continuing on our current path, precipitating a three-degree temperature rise by 2040, would cause $54trn of damage.

The IPCC report makes it clear that the 1.5-degree rise target is possible, but it necessitates a concerted and collaborative international effort. It sets out achievable pathways to limiting climate change, but it is not the responsibility of the IPCC to enforce them. As Dr Stephen Cornelius, chief advisor on climate change at the World Wildlife Foundation, said: “We have the targets, we have the solutions and the difference between impossible and possible is political leadership.”

RaaS: Satan’s business model

In recent years, high profile ransomware attacks such as WannaCry and NotPetya have hit the headlines, gaining worldwide notoriety for taking over computers and encrypting files which are then ‘held hostage’ until victims pay a decryption ransom.

RaaS platforms allow attackers without coding experience to partner with expert ransomware creators, who write and adapt code on their behalf

Alongside netting cybercriminals millions of dollars in ransom payments, these malware attacks have burdened individuals and organisations around the globe with crippling downtime and damaging business-related costs.

A demonic trend
Now we’re seeing the emergence of ransomware-as-a-service (RaaS) platforms that enable savvy criminal entrepreneurs to sell their services to other criminals. This allows attackers without coding experience to partner with expert ransomware creators who write and adapt code on their behalf.

Available on the dark web, Satan & Co is the latest RaaS platform to provide potential criminals with access to ‘quality’ ransomware. Users simply sign up for an account and pay a subscription to download malicious executable files ready to infect victims’ PCs and they can even tailor their own codes and ransom demands. In exchange, Satan charges a 30 percent commission on all ransom money received.

Devilish business model 
The Satan RaaS platform enables inexperienced cybercriminals to execute large-scale easily customisable ransomware attacks in an incredibly user-friendly manner. Alongside handy tips on malware distribution, service subscribers can take advantage of handy features like attack tracking and Google maps support to monitor the progress of their campaigns. Users can even translate their malware into different languages.

The Satan platform contains templates for creating ransom notes that allows users to set payment thresholds for victims and handles ransom payments, generating a unique victim ID for tracking and reporting purposes. There is also a menu of ‘pick and mix’ options that enable criminals to create their very own customised version of the Satan ransomware.

The RaaS business model levels the playing field for cybercriminals and makes malware accessible to a host of new players, regardless of their technical knowhow. This makes it more essential than ever that organisations ensure they take steps to protect themselves against the tsunami of ransomware that’s now being unleashed.

Repelling the threat
Enterprises looking to mitigate against the growing threat of RaaS attacks can take heart that the steps they need to take are no different from the defences they employ for typical ransomware attacks.

First of all, undertaking regular data backups are essential. Having diligent data backup processes in place will significantly limit the damage caused by a ransomware attack, as encrypted data can be restored without paying a ransom. Companies should regularly test their backup and disaster recovery strategy to ensure it works reliably.

Applying system, network and application updates in a timely manner will also bolster a company’s defences. Software updates usually contain patches for known vulnerabilities and should be installed as soon as they become available. Similarly, training employees on how to spot and handle social engineering and email phishing attacks will boost cybersecurity awareness and keep them updated on known current security threats.

Disabling autorun on all connected devices will prevent malware from spreading autonomously and is an important step for containing malware, should an infection occur. Likewise, macro content in Microsoft Office applications should be deactivated. In many cases, ransomware is spread via infected Microsoft Office documents containing malicious macros that will download and execute the malware once run. Disabling macros by default can help prevent compromises, even if a user opens an infected file.

Preventing remote desktop connections wherever possible will also prevent attackers or malware from being able to access a user’s devices and files remotely. In addition, restricting the use of system administrator tools will help ensure a compromised user does not accidently grant administrator privileges to an attacker who has gained access to their account.

The software shield
Most importantly, security software should always be deployed. There are a variety of solutions that can help to prevent ransomware infections. Antivirus software and firewalls, for instance, can help block known or widespread malware variants. For additional protection, organisations should consider endpoint detection and response and advanced threat protection solutions that optimise malware detection and block the execution of malicious code. Deploying multi-layered security mechanisms such as data categorisation, network segmentation, application control and behaviour monitoring will enable an elevated security strategy that keeps enterprise data safe.

The RaaS model is a game changing development that makes ransomware easy to use, requiring little or no technical skill to configure, customise and execute. This means that attackers can change attack vectors rapidly and adapt fast to security defences.

Business and organisations should deploy a layered approach to security to avoid becoming a malware victim.

A trailblazing year for the Nobel Prize

As the 2018 Nobel Prize winners were announced, one thing became clear: this a year of firsts. Each of the scientific prizes, awarded over the course of three days at the beginning of October, has broken the mould in terms of the research it has recognised, as well as the scientists behind that research.

Each of the scientific prizes has broken the mould in terms of the research it has recognised, as well as the scientists behind that research

The Nobel Prize was established in 1895 by the will of Swedish scientist Alfred Nobel, and is given for outstanding contributions in the scientific, literary and humanitarian fields. As well as being an extremely prestigious accolade, it has long been seen as the definitive voice in recognising not only scientific research itself, but also the impact that it has on the world we live in.

A physiology first
The first of this year’s awards, announced on October 1, was the Nobel Prize in Physiology and Medicine, which was awarded to James Allison and Tasuku Honjo for their ground-breaking immunotherapy research.

The work of the two scientists, who are researchers at the University of Texas and the University of Kyoto respectively, has led to a change in the way certain cancers are treated.

Allison and Honjo’s research concerns proteins known as ‘checkpoints’ which act as brakes, preventing immune cells from harming healthy tissues. The scientists discovered that reprogramming these ‘checkpoints’ could produce remarkable results in cancers that had previously been considered untreatable. The new treatment, which stems from the results of their research, is known as the immune checkpoint blockade, and works by effectively switching off the brakes on immune cells, allowing them to attack cancerous cells.

This is the first year in the history of the prize that it has been given to an oncological innovation. The Nobel Assembly of Sweden’s Karolinska Institute, which delivered the award, described the research as “a landmark in our fight against cancer” in a statement.

Allison said: “I’d like to give a shout out to all the [cancer] patients out there to let them know we’re making progress here.” Honjo, who began his research after one of his medical school classmates died of cancer, proclaimed: “I want to continue my research … so that this immune therapy will save more cancer patients than ever.”

Breaking records
The announcement of the Nobel Prize for Physics on October 2 was a timely recognition of the contribution that women make to the discipline, being the first time in 55 years that the award has been given to a female scientist.

Professor Donna Strickland is the first woman to receive the prize since Maria Goeppert-Mayer in 1963. She is also the third woman in history to be given the accolade, the first being Marie Curie in 1903.

Strickland told a press conference: “We need to celebrate women physicists because we’re out there. I’m honoured to be one of those women.”

Professor Strickland will share the $1m prize with two male colleagues, Dr Gerard Mourou and Arthur Ashkin. Strickland and Mourou were honoured for their work in creating the shortest and most intense laser pulses known to man, which are now widely used by laser eye surgeons across the world.

Ashkin was rewarded for his invention of ‘optical tweezers’ that can grab living cells with laser beam fingers. At 96, he is the oldest person to ever win the accolade.

Pioneering proteins
The third and final scientific award, announced on October 3, breaks yet another record in the history of the Nobel Prize. British scientists George P Smith and Sir Gregory P Winter, together with American scientist Frances Arnold, were jointly awarded the prize for Chemistry for their pioneering work on proteins.

Professor Arnold performed the first ever ‘directed evolution’ of enzymes, which are proteins that catalyse chemical reactions. By controlling their evolution, scientists are able to manufacture all kinds of substances from pharmaceutical ingredients to biofuels.

Arnold also reflected on her status as an experimental female chemical engineer, and how that affected her perception in the world of chemistry. She said: “25 years ago, it was considered the lunatic fringe. Scientists didn’t do that. Gentleman didn’t do that. But since I’m an engineer and not a gentleman, I had no problem with that.”

Dr Smith and Sir Winter were honoured for their development of a process called ‘phage display’, which is used to develop new antibodies. The process has been used to create treatments for autoimmune diseases, arthritis and metastatic cancer.

As more innovations come to the fore, future scientists will be better equipped to develop treatments and cure diseases in ways that were not previously thought possible. Perhaps this is a sign of things to come, with more records to be broken with each subsequent year of the Nobel Prize.

Top 5 innovative alternatives to fossil fuel

Despite huge strides made by green energy in recent years, coal, oil and gas still play a huge role in the global energy system. Fossil fuels transformed the world at the time of the Industrial Revolution, but the negative effects of carbon dioxide (CO2) emissions and other greenhouse gases can no longer be tolerated.

Fossil fuels transformed the world, but the negative effects of CO2 emissions and other greenhouse gases can no longer be tolerated

In 2016, a majority of world leaders united behind a mission to take a bolder stance against the threat of climate change with the Paris agreement. Under this pact, each country is tasked with reducing emissions in order to keep the rise in global average temperatures bellow two degrees Celsius.

The clock is ticking, and if this goal is to be met, more innovative clean energy alternatives must be developed. Here, The New Economy looks at some of the most interesting forms of green energy in development.

Elephant Grass
Biomass energy was the fuel of choice for centuries before coal, oil and gas became more readily available. Today, as CO2 emissions wreak havoc on our environment, it is once more becoming a serious contender in the global energy mix.

Biomass encompasses any organic material from plants or animals, but it takes the form of wood most often. Based in Sweden, clean-tech start-up NextFuel has pioneered a method using an alternative to wood pellets. Using elephant grass, NextFuel produces a CO2-negative alternative to fossil fuel that can be used directly in the existing energy infrastructure.

Elephant grass is a specialised plant that can grow up to four metres in just 100 days, producing several crops to harvest each year. Once the grass has been harvested, NextFuel’s technology requires very little energy to transform it into a briquette in its factory. As less CO2 is released into the atmosphere when the fuel is burned than was captured from the atmosphere a few months earlier when the grass was growing, the whole carbon cycle becomes negative on a yearly basis.

Hydrogen fuel cells
Hydrogen is one of the earth’s most abundant elements, and like biomass energy its use in the power sector is nothing new, but exciting new developments have put it back in the spotlight. Hydrogen fuel cells can produce clean energy for a variety of different sources. They can be used in the transport sector in a similar way to lithium-ion batteries, but unlike batteries they do not run down or need recharging.

Uptake in hydrogen technology has been slow due to its cost, but on September 17, Germany began running the world’s first passenger trains powered by hydrogen fuel cells. A number of other European countries are also looking into hydrogen trains, and in September Reuters reported that European Union energy ministers had agreed to work together to increase hydrogen’s prospects in the transport and power sectors.

Solar paint
Solar panels are one of the most common renewable alternatives to fossil fuels, but what if you could generate energy from the sun while sidestepping the environmental impact of manufacturing the panels?

Researchers from the Royal Melbourne Institute of Technology in Australia may have found an answer after a team developed a paint that can be used to generate energy. By combining the titanium oxide found in many wall paints with synthetic molybdenum-sulphide, the material can absorb solar energy as well as moisture from the surrounding air.

“[The] simple addition of the new material can convert a brick wall into energy harvesting and fuel production real estate,” Lead researcher Dr Torben Daeneke said when the findings were announced in 2017.

Wave energy
Harnessing the power generated by the ocean’s waves seems like a simple idea. Unfortunately, it is much more difficult in practice. For years, researchers have worked to create an optimal design, but a commercial-scale wave power project has yet to come to fruition.

In Portugal, a small-scale ‘wave snake’ scheme operated off the coast in 2008 and 2009, but after the Scottish company that produced the technology fell into administration, the intellectual property was transferred to Wave Energy Scotland, a governmental body.

Work on wave energy is still progressing. In February, US engineering giant Lockheed Martin announced plans to develop the world’s largest wave energy project to date – a 62.5 MW installation off the coast of Victoria, Australia. The EU is also working on a project involving Wave Energy Scotland to create open source software for wave and tidal energy systems in the hopes of making the industry more attractive to private investors.

Whisky
Scotland has been producing whisky for centuries, and over the years distilleries have found ways to deal with the waste that is produced as a by-product, often selling it to farmers as cattle feed. Now, the industry is looking for a more innovative way to use the four million tonnes of waste it produces each year. In 2015, the Green Alliance predicted whisky waste by-products could be a £140m ($184m) market.

Now, some distilleries are beginning to use their own waste to fuel their operations through anaerobic digester plants that create bio-gas that is processed into steam energy. In its first year of operation, Glendullan distillery, owned by drinks giant Diageo, generated 6,000 MW hours of thermal energy, reducing fossil fuel demand by a quarter. Whisky by-products can also be used to produce heat and fuel cars.

Tech billionaire to buy Time for $190m

Time magazine is to be sold to Marc Benioff, co-founder of software platform Salesforce.com, and his wife Lynne in a $190m deal announced on September 16.

The couple have stated that they will not be operators of the business and will not have any involvement in its day-to-day management. Instead, they described themselves as “stewards of this historic and iconic brand”.

In a note sent to the publication’s staff on Sunday, Time editor Edward Felsenthal said: “From the first moments we sat down with Marc and Lynne to discuss Time’s future, we knew that this was not just a meeting of minds and business goals, it was a confluence of purpose.”

Felsenthal praised the Benioffs’ commitment to community and described them as “owners with a sterling record of innovation and of building collaborative, creative cultures”.

Benioff accrued his $6.7bn fortune primarily through the establishment and ownership of Salesforce.com, which he co-founded in 1999. The software firm, of which he remains chairman and co-CEO, is now worth an estimated $120bn. As the Benioffs are buying the magazine as individuals, Time will not have any association with the Salesforce.com business.

The publishing industry is under severe strain from falling print advertisement sales and digital market domination from tech firms such as Facebook

The proposed sale, which was first reported by the Wall Street Journal, is expected to close within 30 days. Time magazine is currently owned by media company Meredith. Its parent company, Time, was bought by the media conglomerate for $2.8bn in January this year.

Just two months later, in an attempt to shed costly publications that did not fit with its existing print offering, Meredith put four Time publications up for sale. Negotiations for the sale of the other three titles are ongoing.

Benioff is the latest in a line of tech entrepreneurs dipping their toes into media publication ownership. The trend was started in 2012 by Chris Hughes, co-founder of Facebook, when he purchased The New Republic for an estimated $2.1bn. However, Hughes sold the publication in 2016 after a disappointing tenure at the helm, during which time site traffic declined by nearly 40 percent.

Jeff Bezos has had more success with his ownership of The Washington Post, which he acquired in 2013 for $250m. The paper has been profitable for the past two years, and in July 2017, hit a record 74.1 million monthly readers.

Laurene Powell Jobs, philanthropist and widow of Steve Jobs, followed in Bezos’ footsteps in 2017 when she acquired a majority stake in The Atlantic through her organisation Emerson Collective. In February this year, the publication announced it would be taking on “as many as 100 new staffers” over the following 12 months, with 50 percent of those hires on the editorial side.

As the tech sector experiments with media ownership, the publishing stalwarts themselves are taking a step back. Condé Nast has put three titles up for sale amid revelations that the legacy publisher lost $120m last year, while the New York Daily News announced in July that it would be cutting 50 percent of its newsroom staff, citing a desire to focus more on the digital side of the business.

The publishing industry is under severe strain from falling print advertisement sales and digital market domination from tech firms such as Facebook and Google. According to a report by the Pew Research Institute, US print advertising revenue plummeted from $65bn in 2000, to under $19bn in 2016.

Time is certainly not exempt from the industry’s financial woes – the company reported net debt of $2.7bn in June this year.

This latest acquisition suggests that weary media owners have adopted an ‘if you can’t beat them, join them’ attitude. By choosing to hand over the reins to tech entrepreneurs, they are effectively reducing their digital competition.

But the incoming leadership will not have an easy ride. The tech sector as a whole has severe trust issues to overcome, due to a long line of recent scandals involving data privacy and erroneous stories appearing on platforms such as Facebook.

The challenge for new tech owners, including the Benioffs, will be to increase profitability and improve digital offerings while maintaining journalistic integrity.