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920-178 exam Dumps Source : Nortel Contact Center Rls. 7.0 Sales(R) Engineering
Test Code : 920-178
Test Name : Nortel Contact Center Rls. 7.0 Sales(R) Engineering
Vendor Name : Nortel
: 60 Real Questions
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TSX : NTOTC Bulletin Board : NRTLQ
March 25, 2009 06:00 ET
company strategies blend with Communications to increase profits, decrease fees and enhance client satisfaction
OTTAWA, ONTARIO--(Marketwire - March 25, 2009) - Nortel(1) (TSX:NT)(OTCBB:NRTLQ) is unleashing a host of new contact middle products and features arming modern day corporations with the most advanced capabilities attainable. Heading up the brand new offering is Contact center 7.0 adopted via enhancements to Nortel's interactive voice response answer, the Interactive Communications Portal (ICP) and brought performance to the company's Agile verbal exchange atmosphere (ACE) platform.
incredibly resilient and redundant, Contact center 7.0 is a local SIP-based solution with tightly built-in unified communications (UC) capabilities and a whole bunch of recent elements, together with integration with Microsoft workplace Communications Server (OCS) 2007. As a Microsoft Gold certified associate, Nortel is recognized for demonstrating the maximum degree of competency and abilities in designing, integrating, and assisting Microsoft applied sciences.
"Nortel is doing resourceful issues in the client contact market and their method for making it basic to mix functions with business tactics is appropriate on the mark," stated Steve Lemak, vp of IT, excelleRx, a Nortel contact middle client and issuer of treatment administration for the hospice market. "They take into account what must be executed to aid businesses like ours cut back expenses and pace their capability to stronger serve their customers."
"These bulletins underscore Nortel's focal point on supplying superior client care options that no longer most effective simplify enterprise procedure and application integration however additionally highlight Nortel's endured dedication to bring leading edge capabilities to their clients," mentioned Ravi Chauhan, regular supervisor, Communications Enabled enterprise options, Nortel.
Key elements of Contact core 7.0 encompass:
- Open Interfaces - in addition to the openness delivered by means of SIP, Contact core 7.0 gives open application Programming Interfaces the usage of a services Oriented architecture (SOA), which permits integration of the contact center into a company's business purposes and techniques. With web service interfaces for queuing, laptop Telephony Integration (CTI), and database integration, a business can automate workflow between front and back workplace purposes to eliminate tedious manual procedures.
- UC within the Contact core - With Contact middle 7.0 and Microsoft OCS integration, it's easy for shoppers to have interaction with a enterprise the usage of a lot of modes of conversation. This pleasing integration gives a single, unified agent desktop interface for inbound/outbound voice, electronic mail, net chat, and fast messaging. as an instance, Contact center 7.0 can intelligently route client contacts to available brokers the usage of SIP-based presence. brokers can also use presence to directly examine which of their specialists is accessible to help with a client request, enabling first contact resolution.
- Predictive Outbound Dialing - typically provided as a separate application, Nortel has wholly built-in this expertise inside Contact core 7.0 to enhance the efficiency of agents by enabling the system to intelligently predict when an agent will develop into purchasable and vicinity an outbound name to coincide with their availability. And, since it is built-in with Contact core 7.0, reporting and management are seamless.
- provider introduction atmosphere (SCE) - Contact middle 7.0 additionally points a graphical 'drag and drop' tool that takes the determine of contact center and self-service workflow creation. With SCE, the workflow orchestration between different purposes is simplified the use of open, web capabilities interfaces, which reduces the can charge and velocity of deployment. Nortel estimates use of this tool to be 5 times quicker than average workflow introduction methods.
- functions - Contact middle 7.0 solution is complemented with the aid of an greater set of new features spanning all aspects of contact center operations. These encompass: Consulting and Design; building and Customization; Implementation and Integration; control and upkeep; and Optimization capabilities.
For extra particulars, talk over with http://www.nortel.com/solutions/ccvp/collateral/nn124079.pdf
moreover the Contact center 7.0 answer, Nortel is also making advancements to its ICP offering with feature Pack 1. Enhancements include outbound detection for discerning between an individual and an answering laptop; co-residence of the Nuance speech server, disposing of the need for a separate server; and extension of SIP CTI interworking to aid Avaya AES.
"To name a brand new product next-gen has develop into cliche, however Nortel has truly put its Interactive Communications Portal in a class through itself in terms of creative design, openness, interoperability requirements guide and ease-of-use," talked about Joe Outlaw, main contact middle analyst, Frost & Sullivan. "long-time market leader Nortel demonstrates with ICP, it's committed to bringing main options to the market."
Nortel also continues to pursue an open application ambiance adding the following functionality as part of ACE free up 1.2:
- improved assist of Microsoft OCS 2007 for more desirable presence capabilities (e.g. telephony presence) throughout heterogeneous PBX environments;
- Integration with IBM Lotus Sametime client 8.0.1 for click to convention and more advantageous presence capabilities;
- And, functions for software customization, prototyping, and custom application construction.
"more and more agencies are discovering that having the potential to automate features and strategies, while having varied channels of verbal exchange attainable, can enhance efficiencies, reduce operating costs, and construct client loyalty," spoke of Joel Hackney, president, business options, Nortel. "UC-enablement is evidently the route ahead and they now have supplied an easy roadway for their consumers to reach this purpose."
With Nortel contact facilities dealing with greater than 200 million calls a day, the company offers the broadest software portfolio, including contact core, self-carrier, advanced speech, and workforce optimization solutions. It also adheres to an open, dealer-agnostic method that enables for basic integration of the UC journey across functions and instruments complemented by using a rich capabilities observe that may customise options according to a consumer's wonderful company needs.
Nortel is a identified chief in offering communications capabilities that make the promise of enterprise Made standard a reality for their customers. Their next-technology applied sciences, for both service provider and enterprise networks, support multimedia and business-vital applications. Nortel's technologies are designed to assist dispose of cutting-edge obstacles to effectivity, velocity and efficiency by using simplifying networks and connecting people to the advice they need, once they want it. Nortel does company in more than one hundred fifty international locations worldwide. For extra guidance, talk over with Nortel on the net at www.nortel.com. For the latest Nortel news, consult with www.nortel.com/information.
certain statements in this press unlock may additionally include words corresponding to "could", "expects", "may", "anticipates", "believes", "intends", "estimates", "objectives", "envisions", "seeks" and other an identical language and are regarded ahead-searching statements or suggestions beneath applicable securities legislations. These statements are in response to Nortel's current expectations, estimates, forecasts and projections in regards to the working ambiance, economies and markets during which Nortel operates. These statements are field to essential assumptions, hazards and uncertainties, which might be tricky to foretell and the actual influence can be materially different from these reflected in forward-looking statements. For additional info with admire to certain of those and other elements, see Nortel's Annual report on Form10-okay, Quarterly stories on kind 10-Q and other securities filings with the SEC. until otherwise required with the aid of relevant securities laws, Nortel disclaims any intention or duty to replace or revise any ahead-looking statements, even if as a result of new tips, future hobbies or otherwise.
(1)Nortel, the Nortel brand and the Globemark are trademarks of Nortel Networks.
Use of the terms "accomplice" and "partnership" doesn't suggest a legal partnership between Nortel and every other party.
businesses that use the Symposium name middle software from Nortel now have an easier technique to obtain integration with i OS applications. closing week, iMessaging options announced a equipment of utility and functions that allows for its encourage telephony software to combine with Symposium.
Nortel bills its Symposium name center Server as an advanced and scalable platform for automating the distribution of incoming calls in a contact middle. The software makes organizations extra productive by guiding callers through a “cell tree” to verify the goal of a call, and then routing the name to the customer provider representatives (CSRs) with the acceptable competencies.
It’s general for Symposium users to pressure even more automation into their name middle operations by means of integrating their call core software with enterprise applications. This provides advantages, such because the means to promptly pull up advice, like customer records, before routing the name to the acceptable CSR.
besides the fact that children, integrating phone systems with company functions is notoriously complicated, and requires huge customization features. but on account of iMessaging’s new inspire for Symposium offering, Nortel purchasers can connect their Symposium programs to i OS applications, whereas leveraging the extensive event that iMessaging has during this field of contact center operations.
the new providing delivers two fundamental benefits, according to iMessaging. First, the mixing permits the Symposium equipment to carry custom screen “pops” to the workstations of CSRs. These monitor pops can be a screen from practically any i OS application, and supply CSRs with brief entry to data from core enterprise applications. It additionally eliminates the need for CSRs to manually navigate through the i OS software to get to the fundamental monitor.
The 2d benefit is the delivery of interactive voice response (IVR) capabilities that enable callers or call recipients to interact with business purposes over the phone, the usage of both voice focus or the cellphone’s keypad. inspire can bring IVR functionality to Symposium for both inbound and outbound calls, iMessaging says.
moreover the encourage utility, iMessaging’s new answer comprises venture management, implementation, configuration, and building functions. The solution begins at about $20,000. iMessaging is offering prospective consumers free 30-minute assessments. For extra information, talk over with www.imessagingsolutions.com.
iMessaging and IBM group to pressure i OS-based mostly IP Telephony
iMessaging Adopts SIP for name middle application
iMessaging grants a manager’s View into call center undertaking
iMessaging provides Outbound Dialing to inspire name center Suite
iSeries-centric call core Suite Renamed inspire
iMessaging Boosts guide for Spanish in Interactive Voice system
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Nortel today stated it will alternate 1.3 shares for every make clear share and stock alternative. Nortel expects the acquisition to close in the first quarter of next 12 months.
Nortel's stock closed these days at fifty two.38 a share, down 0.31, whereas make clear's shares jumped 1.97 to close at forty five.31.
The deal comes at a time when the customer relationship management (CRM) software market is consolidating right away as standalone agenciesgobbled up acquired Acquirer value Date Aurum Baan $275 million may additionally 1997 Scopus Siebel $460 million March 1998 Vantive PeopleSoft $433 million Oct. 1999 make clear Nortel $2.1 billion Oct. 1999 scramble to find partners to aid them better compete. final Monday, business administration application maker PeopleSoft and make clear's rival Vantive agreed to merge in a stock-for-stock deal worth about $433 million. business management utility makers comparable to Oracle and SAP are also impulsively establishing their personal lines of internet-based mostly earnings and customer carrier utility.
Dataquest analyst Jeff Snyder spoke of the software obtained as a result of trendy deal will complement Nortel Networks' current call core software. it's the business's 2d purchase considering that saying a new client service initiative.
In August, Nortel Networks paid $436 million for Periphonics, a maker of customer self-carrier utility. Periphonics' expertise allows financial institution shoppers, as an instance, to assess their account steadiness or switch cash devoid of going through a client service consultant, Snyder pointed out.
clarify's application, which is used internally at Nortel, allows for a consumer carrier agent to tug up a customer's ancient revenue and repair suggestions when a name comes through.
"It suggests every time you've got known as, who you're, why you known as in the past," Snyder noted. "It no longer simplest helps the agent serve you more desirable, it gathers guidance on the purchasers to hold the advertising and income neighborhood extra suggested."
A surprise deal brand new deal surprised some analysts, who anticipated that the San Jose, California-based clarify, which holds a couple of 22 p.c CRM utility market share, would be bought with the aid of a further utility maker in its place of a networking company. besides the fact that children, many organizations are scrambling to get into the revenue and capabilities market because of its boom skills.
Market research enterprise overseas data corporation (IDC) expects the worldwide market for CRM software to develop to $eleven billion in 2003, up from $1.9 billion in 1998.
"The CRM utility trade has been extraordinarily scorching," observed Pat Mason, a economic analyst at preferred Capital Markets. "For competitive motives, Nortel crucial to get within the [front office] house."
"We're discovering telecom agencies migrating up the food chain in the application atmosphere," he introduced. "or not it's going to be interesting to look how the aggressive condition adjustments in the entrance office utility market."
make clear chief executive Tony Zingale stated the deal helps clarify jump far forward of different software makers, including No. 1 front office application maker Siebel, in addition to Oracle and PeopleSoft-Vantive.
"This movement blows all three of them away," he stated, including that the deal also expands make clear's global reach to about a hundred and fifty international locations.
despite the fact, utility gorilla Siebel will be a tricky competitor for any person to handle. Siebel is in no way strapped for money, clients, or clout. The business has a market price of about $7.seventy two billion--a fraction of clarify's market price of about $1.05 billion.
Too tons money? Analysts nowadays even wondered whether Nortel paid too a whole lot for clarify, which had 1998 revenues of $a hundred thirty million.
despite the fact $2.1 billion for clarify looks excessive, in mild of the $441 million PeopleSoft-Vantive deal, Snyder noted the greater rate makes sense.
"clarify is a extra stable company than Vantive," and has a plenty more advantageous fiscal profile, he stated.
invoice Conner, newly announced president of Nortel's enterprise solutions division, noted the acquisition fee become according to make clear's growth potential, which is estimated at about eighty percent, instead of just past profits.
below the deal, make clear will operate as a unconditionally-owned subsidiary of Nortel Networks, functioning within Nortel's business options enterprise. Zingale mentioned he'll proceed to head make clear and talked about he will keep all key company executives, as neatly as the firm's 800 employees.
information.com's Wylie Wong contributed to this report.
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MENLO PARK, CA--(Marketwired - Dec 4, 2013) - Vello Systems, a leading provider of open, converged networking and software solutions and charter member of the Open Networking Foundation, today announced two recent additions to the senior management team: Alan McKee, VP - Engineering and Jeff Paine, VP - Marketing.
As VP of Engineering, Mr. McKee will help drive Vello's pioneering leadership in providing leading-edge enterprise networks that are open, application aware and software-defined.
Before joining Vello, McKee was Vice President of Engineering at Intelliden, where he led the product engineering efforts for Intelliden's award winning R-Series software suite. McKee helped guide Intelliden's successful acquisition by IBM Tivoli in 2010, where he stayed on to lead the network configuration products for the organization.
Prior to joining Intelliden, he led the Network Surveillance software development within British Telecommunication's Belfast, Northern Ireland engineering center. He also served as Director of Software Development for Nortel in Belfast, leading and managing the development of next-generation service management software for Nortel's Optical Portfolio. McKee holds a Bachelor of Science degree in computer science with 1st Class honors from the University of Belfast.
Jeff Paine, Vice President of Marketing, has more than 20 years of experience as a high-tech marketing and business development executive. He began work in the networking industry in 1989, when he joined pre-IPO Cisco Systems as its initial marketing hire in preparation of the public offering. After six years at Cisco Jeff went on to hold a number of marketing, product management and business development executive roles at both start-ups and large companies in the networking and telecommunications industries. Most recently he was Vice President of Product Marketing for New Zealand-based Endace (recently acquired by Emulex). He has also served as Vice President, Global Marketing, for Vividas and Vice President of Strategic Marketing for UTStarcom. Jeff holds a BA degree in Communications from Brown University and an MA from the University of Texas at Austin.
"Alan and Jeff bring a wealth of systems and networking experience at what is a very exciting time for Vello. Customer interest in their new VellOS 7.0 platform, which liberates large-enterprise CIOs and their data center teams from the current constraints of enterprise networking architectures, is growing rapidly. We look forward to all of their contributions in securing these opportunities and maintaining their cutting edge product development and marketing efforts," said Karl May, chief executive officer, Vello Systems.
About Vello Systems Vello Systems' unique application infrastructure software re-imagines how IT operational teams view and control the underlying networks used to implement business-critical services that run on top of them. By removing existing dependencies on the glacial R&D cycles of legacy networking hardware and replacing them with a proven cost-effective, open, standards-based software architecture, business agility, reliability and competitive advantage are all significantly enhanced by Vello across the entire IT estate. Vello's software solutions are built around the company's VellOS Linux distribution network operating system and integrate easily with leading IT solutions from companies such as EMC and Splunk. Vello also fully supports all validated third-party hardware and software ecosystem components that are part of a VellOS deployment. Vello solutions have been deployed with Fortune 500-class customers in mission-critical environments worldwide. For more information contact www.vellosystems.com.
BUENOS AIRES, Argentina, March 7, 2018 /PRNewswire/ --
(in million P$, except where noted)
As of December, 31
Operating Income before D&A
Net Income attributable to Telecom Argentina
Shareholders' equity attributable to Telecom Argentina
Net Financial Position - (Debt) / Cash
CAPEX (excluding spectrum)
Fixed lines in service (in thousand lines)
Mobile customers (in thousand)
Núcleo (Paraguay) -including Wimax customers-
Broadband accesses (in thousand)
Average Billing per user (ARBU) Fixed Telephony / voice (in P$)
Average Revenue per user (ARPU) Mobile Services in Arg. (in P$)
Average Revenue per user (ARPU) ADSL (in P$)
Telecom Argentina S.A. ('Telecom Argentina') - (NYSE: TEO; BASE: TECO2), one of Argentina's leading telecommunications companies, announced today a Net Income of P$7,724 million for the annual period ended December 31, 2017, or +92.9% when compared to FY16. Net income attributable to Telecom Argentina amounted to P$7,630 million (+P$3,655 million or +91.9% vs. FY16).
During FY17, Consolidated Revenues increased by 22.4% to P$65,186 million (+P$11,946 million vs. FY16), mainly driven by Fixed Voice Services, Fixed Internet Services and Mobile Services in Argentina. Moreover, Operating Income reached P$12,112 million (+P$4,269 million or +54.4% vs. FY16).
Consolidated Operating Revenues
As of December 31, 2017, mobile clients amounted to 21.4 million.
Third Parties Revenues amounted to P$44,726 million (+17.0% vs. FY16), of which the services revenues represented P$37,174 million (+22.2% vs. FY16). The commercial strategy was focused on the innovation, which promotes the consumption of mobile internet services through an updated offer of plans suitable for all market segments.
Personal in Argentina
As of December 31, 2017, Personal reached 19.0 million subscribers in Argentina, where postpaid clients represented 35% of the subscriber base.
In FY17, Third Parties Revenues reached P$41,797 million (+P$6,197 million or +17.4% vs. FY16) while Service Revenues (excluding equipment sales) amounted to P$34,289 million (+22.2% vs. FY16), with 49.7% corresponding to mobile internet revenues (vs. 38.6% as in FY16), as Mobile Internet Revenues amounted to P$17,048 million (+57.4% vs. FY16). Revenues from Outbound Mobile Services reached P$29,980 million (+20.6% vs. FY16), mainly due to price increases in postpaid client segments and, to a lesser extent, due to the increases in the amount of online recharges of prepaid subscribers. Meanwhile, Revenues from Inbound Mobile Services amounted to P$2,710 million (+58.4% vs. FY16), increase that was mainly generated by price increases in CPP and TLRD. In addition, equipment sales decreased by 1.2% vs. FY16, reaching P$7,446 million, equivalent to 17.8% of total revenues.
The average monthly revenue per user ('ARPU') amounted to $142.3 during FY17 (+26.8% vs. FY16).
Following the changes in customer consumption and working towards proposals focused on higher availability of data, Personal developed 'Gigas compartidos', the first offer of plans in the Argentine market which allows the sharing of data included in the plan between different mobile lines. Likewise, the proposal of free Whatsapp usage for customers who recharge credit continued, becoming a benchmark for the industry.
At the same time, the promotion of the update of their clients' devices with discounts and special financing continued, with a strong focus on e-commerce marketing. In this framework, Personal participated in the Cyber Monday 2017 where customers could access to 4G devices with discounts of up to 50% and 18 installments without interest.
As part of the actions associated with the brand positioning within the youth segment, Personal and Huawei presented the 12th edition of 'Personal Fest 2017', where over 50,000 people enjoyed during two days music and outdoor entertainment, while more than 1.2 million followed it via streaming.
Personal in Paraguay ('Núcleo')
As of December 31, 2017, Núcleo's subscriber base reached around 2.5 million clients. Prepaid and postpaid customers represented 83% and 17%, respectively.
Núcleo generated revenues from Third Parties equivalent to P$2,991 million during FY17 (+13.2% vs. FY16). Internet revenues amounted to P$1.294 million (+32.3% vs. FY16) representing 44.9% of FY17 service revenues (vs. 41.1% in FY16).
Fixed Services (Voice, Internet and Data)
During FY17, Revenues generated by Fixed Services reached P$19.797 million, +32.7% vs. FY16; with Voice revenues increasing by +41.5% vs. FY16, mainly due to price increases in monthly fees. Meanwhile, Internet revenues grew by +28.7% vs. FY16 and Data Revenues were up by +22.5%.
Total Voice revenues reached P$8,505 million in FY17 (+41.5% vs. FY16). This increase was mainly explained by monthly fee price increases that came into effect for both corporate and residential fixed line customers, and additionally due to the bundled offer of packs that include voice and internet services ('Arnet + Voz'), that aim to achieve higher levels of customer loyalty and churn reduction.
As a result, the average monthly revenue billed per user ('ARBU') reached P$152.3 in FY17, +55.5% vs. FY16.
As of December 31, 2017, Telecom Argentina reached more than 1.7 million ADSL accesses. These connections represented 46.0% of Telecom's fixed lines in service. Additionally, ADSL ARPU reached P$359.6 per month in FY17, +32.7% when compared to FY16, while the average monthly churn rate for the period reached 1.4% in FY17 vs. 1.7% in FY16. Clients with service of 15Mb or higher currently represent 20% of the total customer base as of FY17
Data revenues (services mainly offered to Corporate customers, SMEs, Government and to other operators) amounted to P$3,577 million (+P$658 million or +22.5% vs. FY16), generated in a context that evidence the strong position of Telecom as an integrated ICT provider. This increase was mainly driven by FX rate variations that affected those contracts that were adjusted by the $/U$S exchange rate and due to the increase in the number of clients.
Telecom continues to evolve its portfolio of security services with the PenTest service, a tool that seeks to assess the security level of a company's computer systems, identifying vulnerabilities in its network infrastructure in the front of growing companies' concerns to safeguard critical information for their businesses.
Moreover, as part of its connectivity strategy for corporate clients, it was developed 'Integra 4G', a solution that provides Internet access using the resources of the 4G/LTE Personal mobile network, that can be used in a transitory mode (access that allows a temporary connection to Internet to be used in cases of extended provision times) as well as back up (allows providing an Internet access to support the main service).
Consolidated Operating Costs
Consolidated Operating Costs totaled P$53,207 million in FY17, an increase of P$7,727 million, or +17.0% vs. FY16 (including 'Disposals and impairment of PP&E' that resulted in a loss of P$316 million in FY17 vs. a loss of P$383 million in FY16). Continuing with the trend observed during the lasts quarters, this overall increase is below inflation levels and moreover Revenue growth, which allowed a significant increase in the Company's EBITDA and to improve its margin. This was a result of a higher level of efficiency in the cost structure. Higher costs are mainly associated to the effect of higher revenues, a highly competitive environment in the mobile and Internet businesses, the impact of higher direct and indirect labor costs generated by the operations in Argentina, the increase in fees for services related to price adjustments in supplier contracts, increases in taxes and in provisions. These increases were partially offset by lower VAS (Value Added Services) costs, commissions, and bad debt expenses, among others.
The cost breakdown is as follows:
- Employee benefit expenses and severance payments totaled P$12,718 million (+29.8% vs. FY16), mainly impacted by increases in salaries to unionized and non‐unionized employees together with the associated social security contributions. In addition, severance indemnities and termination benefits experienced a rise of +P$423 million or +81% vs. FY16. Finally, total employees at the end of FY17 amounted to 15,396.
- Interconnection costs and other telecommunication charges (including TLRD, Roaming, Interconnection, international settlement charges and lease of circuits) amounted to P$3,148 million, +23.3% vs. FY16. This increase resulted mainly from higher costs related to TLRD due to price increases, partially offset by lower roaming costs.
- Fees for services, maintenance, materials and supplies amounted to P$6,600 million (+31.8% vs. FY16), mainly due to greater expenses in fixed telephony and broadband connections and to higher costs in software maintenance in the fixed segment and systems' licenses in the mobile segment. There were also increases in costs associated with fees for services, mainly related to call centers and higher costs recognized to suppliers in both mobile and fixed segments.
- Taxes and fees with regulatory authorities reached P$6,107 million (+19.2% vs. FY16), impacted mainly due to the increase in fixed and mobile services revenues, and therefore the increase in turnover tax, as well as higher bank debit and credit taxes related to collection flows and payments to suppliers, partially offset by lower fees with the regulatory authorities.
- Commissions (Commissions paid to agents, prepaid card commissions and others) totaled P$3,631 million (-5.7% vs. FY16). The decrease in commissions (before SAC capitalization, P$4,617 million in FY17 vs. P$5,252 million in FY16) is mainly due to a reduction in commissions paid to commercial channels, thanks to a more efficient new agent compensation model, and a reduction in collection commissions, CPP and other fees. Agent commissions capitalized as SAC amounted to P$986 million (-29.7% vs. FY16), being this reduction related to a lower level of additions.
- Cost of handsets sold totaled P$6,684 million (+8.0% vs. FY16), this increase was mainly due to greater equipment sales in the fixed segment as a consequence of the implementation of certain projects, and in the mobile segment due to higher costs per device partially offset by a reduction in the quantity of handsets sold, given the modification in strategy where the effort was centered more in the change of devices in order to achieve higher mobile plans upselling and less on capture operations. Deferred costs as SAC amounted to P$80 million (-38.5% vs. FY16). Lower deferred costs were related to the referred lower quantities of equipment sold during FY17.
- Advertising amounted to P$1,218 million (+39.4% vs. FY16), due to new advertising campaigns launched by the Company during 2017, and in particular due to higher advertisement in media.
- Depreciation and Amortization reached P$6,928 million (+11.8% vs. FY16). PP&E depreciation amounted to P$5,039 million (+15.6% vs. FY16) resulting from the incorporation of assets related to the investment plan that the Company has been executing; the amortization of SAC and service connection costs that totaled P$1,524 million (+3.4% vs. FY16); the amortization of 3G/4G licenses that amounted to P$325 million (-3.8% vs. FY16), due to the extension in the duration of the licenses, and the amortization of other intangible assets that reached P$40 million (+42.9% vs. FY16).
- Other Costs totaled P$6,173 million (+4.9% vs. FY16), of which Provisions expenses reached P$590 million (+215.5% vs. FY16), increasing mostly due to higher labor claims followed by civil and commercial claims during FY17, as well as other operating costs that totaled P$3,280 million, growing by 26.6% vs. FY16 mainly due to the effect of price increases in transactions with suppliers in Argentina and the increase in prices of property and site leases, principally due to additions and contract renegotiations. These increases were partially offset by a decrease on VAS costs that totaled P$874 million (-41.7% vs. FY16), due to a redesign in the offer of these services.
Consolidated Financial Results
Net Financial Results totaled a loss of P$486 million, which represented an improvement of P$1,758 million vs. FY16. This was mainly explained by lower losses from net interests of P$529 million in FY17 (+P$954 million vs. FY16), due to lower cost from financial liabilities; and in addition, due to greater gains on mutual funds and other investments, which reached P$1.100 million (+P$752 million vs. FY16), driven by higher yields and invested amounts.
Consolidated Net Financial Debt
As of December 31, 2017, Net Financial Debt Position (Cash, Cash Equivalents plus Financial Investments and Financial NDF minus Loans) totaled P$3,260 million, an improvement of P$2,632 million when compared to the Net Financial Debt as of December 31, 2016, this latter due to a better Company's cash flow generation related to the increase in EBITDA and a greater efficiency in working capital management.
During FY17, the Company invested P$11,143 million (-2.1% vs. FY16). Of this amount, P$5,407 million were allocated to Fixed Services and P$5,736 million to Mobile services, focusing on projects that maximize the network capacity and on the development of products and services that contribute to address the customers needs that today demand for connectivity and data availability. In relative terms, Capex reached 17.1% of consolidated revenues.
In terms of infrastructure, during 2017 the Company continued enhancing the evolution of services with the deployment of the Personal 4G/LTE network, together with the technological reconversion of 2G/3G networks, and the deployment of fiber optics to increase home broadband connection. The deployment of 4G reaches 1,173 locations with coverage of 85% of the population of Argentina (94% of the population of capital cities). Also, the deployment of 4G+ services continued to advance throughout the country, thanks to the solution of 4G Carrier Aggregation (use of two simultaneous frequency bands). This benefits their customers with a better service experience and speeds that reach 100 Mbps.
In this context, the first 4G site in 2.6Ghz spectrum band was inaugurated, giving coverage to the Hilton Hotel area of Puerto Madero. The deployment of this infrastructure allows the increase of simultaneous traffic capacity of the network, allowing to provide greater connection capacity, besides improving the quality of the mobile data service.
Merger by absorption of Sofora Telecomunicaciones S.A., Nortel Inversora S.A. and Telecom Personal S.A. into Telecom Argentina S.A.
On December 1, 2017 at 12:00am, Telecom Argentina absorbed the operations of Nortel Inversora S.A. ('Nortel'), Sofora Telecomunicaciones S.A. ('Sofora') and Telecom Personal S.A. ('Personal') (all together 'The Companies'), in accordance with the Preliminary Reorganization Agreement, dated March 31, 2017, and the Final Reorganization Agreement, dated November 13, 2017, pursuant to which The Companies agreed to merge Nortel, Sofora and Personal into Telecom Argentina as the surviving company (the 'Reorganization'). As a result, the Reorganization became effective.
Additionally, in accordance with the authorization provided by the General Ordinary and Extraordinary Shareholders' Meeting of Telecom Argentina S.A. held on May 23, 2017, on December 15, 2017, 161,039,447 Class 'A' shares have been converted into an equal number of Class 'B' shares of Telecom Argentina. Moreover, pursuant to the terms of the merger by absorption of Nortel into Telecom Argentina, on December 15, 2017 it was completed the exchange of the Preferred Class 'B' book-entry Shares, with no voting rights and with a nominal value of ten Argentinian pesos ($10.-), each issued by Nortel ('Nortel Preferred B Shares'), for the corresponding book-entry, ordinary, Class 'B' Shares, with one vote per share and with a nominal value of one Argentinian peso, each issued by Telecom Argentina ('Telecom Argentina Class B Shares'). As a consequence, the holders of Nortel Preferred Shares received a total of 197,871,855 Telecom Argentina Class B Shares.
General Ordinary Shareholders' Meeting of Telecom Argentina held on November 30, 2017 and dividend distribution
The General Ordinary Shareholders' Meeting held on November 30, 2017 approved the delegation of powers into the Board of Directors of the Company to withdraw up to the amount of 6,940.5 million Pesos from the 'Reserve of Future Cash Dividends' and to arrange the distribution of the withdrawn funds in concept of cash dividends, in one or more installments and in the amounts and dates determined by the Board of Directors. Moreover, the Company's Board of Directors on its meeting held on December 18, 2017 and in accordance to the powers delegated to it by the aforementioned Shareholders' Meeting, decided to withdraw the amount of P$4,150,312,272 of the 'Reserve for Future Cash Dividends' and to distribute such amount as cash dividends, that were made available to Shareholders on December 29, 2017.
Merger by Absorption between Telecom Argentina S.A. (the Surviving Company) and Cablevisión S.A. (the Absorbed Company) - ENACOM´s approval
On December 22, 2017, Telecom Argentina S.A. was notified of Resolution No° 5,644-E/2017, by which the Ente Nacional de Comunicaciones ('ENACOM') resolved:
1- SECTION 1.- The company CABLEVISIÓN S.A. is hereby authorized to transfer in favour of the company TELECOM ARGENTINA S. A. the Broadcasting Registry by physical and / or radioelectric link, including the permissions / frequencies necessary for the provision of the broadcasting service by subscription through radioelectric link, as well as the authorizations of areas for the provision of those services (physical and radioelectric link), which may operate in Area II, defined in accordance with the provisions of Decree No. 1,461/93 and its amendments, and in the cities of Rosario, Santa Fe province and Córdoba, in the same province, as of January 1, 2018, in accordance with the provisions of section 5 of the National Decree No. 1,340/2016, and in the rest of the areas authorized on the dates and with the modalities provided by ENACOM Resolution No. 5,641/2017 dated December 20, 2017. 2-SECTION 2.- The company CABLEVISIÓN S. A. is hereby authorized to transfer the registration of the Radio-Electric Trunking Services License ('SRCE') to the company TELECOM ARGENTINA S. A. 3 -SECTION 3.- The company CABLEVISIÓN S.A. is hereby authorized to transfer in favour to the company TELECOM ARGENTINA S. A the authorizations and permits for the use of frequencies and the assignments of numbering and signaling resources for the provision of the referred services that are owned by the absorbed company CABLEVISIÓN S.A., under the terms of the current legislation (Annex IV of Decree 764/2000), and of the agreement signed by the company NEXTEL COMMUNICATIONS ARGENTINA S.R.L., on April 12, 2017 (IF-2017-08818737- APN-ENACOM#MCO), according to which TELECOM ARGENTINA S.A., in its capacity as surviving company of CABLEVISIÓN S. A, must, within TWO (2) YEARS of the merger's approval by the NATIONAL COMMISSION FOR THE DEFENSE OF COMPETITION and the ENACOM or the organizations that in the future will replace them in their functions, return the radioelectric spectrum that exceeds the limit provided in Article 5º of the Resolution Nº 171-E/17 of the MINISTRY OF COMMUNICATIONS and / or the norm that replaces it in the future. To this end, the company must submit to the ENTE NACIONAL DE COMUNICACIONES, with a minimum of one year's notice before the expiration of the TWO (2) year term, a proposal for adaptation to said cap. ENACOM may accept the proposal, reject it and / or request a new presentation with the modifications it deems pertinent. 4-SECTION 7.- The change of corporate control in accordance with section 33 of the General Corporate Law N°19,550 in the company TELECOM ARGENTINA S. A. is hereby authorized and will occur once the merger becomes effective and the Shareholders' Agreement dated July 7, 2017 accompanied in its presentation of September 21, 2017 enters into force, as a result of which CABLEVISIÓN HOLDING S.A. will be the controlling entity of TELECOM ARGENTINA S. A. as a surviving company of CABLEVISIÓN S. A.
General Ordinary Shareholders' Meeting of Telecom Argentina held on December 28, 2017
The General Ordinary Shareholders' Meeting held on December 28, 2017 approved the Medium Term Note Program ('the Program'), up to a maximum outstanding amount as of the date of issuance of each class or series of three thousand million American dollars (U$S3,000,000,000.-) or its equivalent in other currencies. Additionally, the Shareholders' Meeting approved the delegation of powers into the Board of Directors of broad powers to determine and modify the terms and conditions of the Program and the Notes that will be issued under the Program within the maximum outstanding amount authorized by this Shareholders' Meeting, as well as to establish the opportunities of issuance and re-issuance of the Notes corresponding to each series or class to issue under the Program and all its issuance and re-issuance conditions, with adjustment of the maximum outstanding amount.
Other Relevant Matters
Merger by Absorption between Telecom Argentina S.A. (the Surviving Company) and Cablevisión S.A. (the Absorbed Company) - Minute of the transfer of operations and issuance of shares
On January 1, 2018 having been fulfilled all the conditions to which the Merger was subject to according to Section Seventh of the Preliminary Merger Agreement and the Final Merger Agreement, on January 1, 2018 was signed the Minute of the Transfer of Operations from the Absorbed Company to the Surviving Company, which complements the Final Merger Agreement subscribed on October 31, 2017.
As a consequence, as it was foreseen in the Preliminary Merger Agreement and in the Final Merger Agreement, since 12:00 am on January 1, 2018 (the 'Effective Merger Date'), the Merger became effective and, consequently, it has taken place the change of control of the Company, being Cablevisión Holding S.A. its new controlling shareholder since January 1, 2018.
Moreover, in accordance with the Preliminary Merger Agreement and the Final Merger Agreement and the notification received from Fintech Telecom LLC ('Fintech Telecom') and Fintech Media LLC ('Fintech Media') on December 29, 2017 informing of a corporate reorganization process by which Fintech Telecom absorbed by merger with Fintech Media and VLG Argentina Escindida LLC (a spin-off of VLG Argentina LLC) with effect on the Effective Date of the Merger, the shares whose issuance was approved by the Board of Directors of Telecom Argentina were delivered on January 1, 2018: i) to Fintech Telecom LLC: 342,861,748 Class 'A' shares issued by the Company; ii) to Cablevisión Holding S.A .: 406,757,183 Class 'D' shares issued by the Company; and iii) to VLG Argentina LLC: 434,909,475 Class 'D' shares issued by the Company.
Acceptance of the loan solicitation for up to U$S1,000,000,000
On February 2, 2018 Telecom Argentina took due notice of the acceptance by Citibank, N.A., HSBC México S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, Industrial and Commercial Bank of China Limited, JPMorgan Chase Bank, N.A. and Banco Santander, S.A, in their character as lenders, Citigroup Global Markets Inc., HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, Industrial and Commercial Bank of China Limited, JPMorgan Chase Bank, N.A. and Banco Santander, S.A. as joint bookrunners and lead arrangers, Citibank N.A. as administrative agent and the Branch of Citibank N.A, established in the Republic of Argentina, as onshore custody agent, of the loan solicitation performed by the Company for an amount up to U$S1.000.000.000, as requested in a timely manner by the Company in one or more disbursements, and with a 12-month tenor.
Relating to this, the Board of Directors of the Company has approved the financing in the terms described in the loan offer at its meeting held on January 31, 2018.
Additionally, Telecom Argentina has received a disbursement of the loan in the amount of U$S650,000,000 on February 9, 2018.
Due to the fact that since 12:00 am on January 1, 2018 the Merger by Absorption between Telecom Argentina S.A. (the Surviving Company) and Cablevisión S.A. (the Absorbed Company) has become effective, the Company wants to offer to the investor community the results of Cablevision S.A for fiscal years 2017 and 2016.
Cablevisión S.A. ('Cablevisión')Consolidated results for the annual period ('FY17') and fourth quarter for fiscal year 2017 ('4Q17')
(1) Adjusted EBITDA is defined as Revenues minus cost of sales (excluding depreciation and amortization) and selling and administrative expenses (excluding depreciation and amortization). They believe that Adjusted EBITDA is a meaningful measure of their performance. It is commonly used to analyze and compare media companies on the basis of operating performance, leverage and liquidity. Nonetheless, Adjusted EBITDA is not a measure of net income or cash flow from operations and should not be considered as an alternative to net income, an indication of their financial performance, an alternative to cash flow from operating activities or a measure of liquidity. Other companies may compute Adjusted EBITDA in a different manner; therefore, Adjusted EBITDA as reported by other companies may not be comparable to Adjusted EBITDA as they report it.
(2) Adjusted EBITDA Margin is defined as Adjusted EBITDA over Revenues.
Revenues reached P$40,952 million in FY17, an increase of 34.0% compared with FY16. The increase is mostly attributable to the growth in broadband subscribers, speeds upgrades to their current customer base and the up selling of value added services with price adjustments.
Cost of Sales (Excluding Depreciation and Amortization) totaled P$15,489 million in FY17, up 30.9% from P$11,834 million in FY16, due to higher programming costs and higher payroll and social security charges and other personnel expenses, among others.
Selling and Administration Expenses (Excluding Depreciation and Amortization) reached P$10,308 million in FY17, increasing 32.0% vs. FY16 (P$7,806 million). The increase is mainly explained by higher costs due to inflation and higher fees for services, taxes, duties and contributions and salaries.
Adjusted EBITDA reached P$15,155 million in FY17, growing 38.6% from P$10,931 million reported for FY16, driven by higher sales in Cable TV and Internet access segment.
Depreciation and Amortization Expenses increased 54.0% to P$3.987 million in FY17, compared to P$2.588 in FY16.
Net Financial Results totaled a loss of P$2,612 million in FY17, increasing from a loss of P$2,374 million in FY16. The increase is mainly explained by lower other financial results, net (which reached -P$370 million in FY17, from +P$222 million in FY16) due to lower income from interests and FX results on cash and cash equivalents.
Equity in earnings from unconsolidated affiliates were P$168 million in FY17, compared with P$131 million in FY16.
Other Income (expenses) totaled a gain of P$29 million in FY17, compared to a loss of P$11 in FY16.
Income tax reached P$2,859 million in FY17, compared with P$2,095 million in FY16.
Income for the period totaled P$5,895 million in FY17, showing an increase of 43.5% vs. FY16 (P$4,107 million). The increase was mainly due to higher EBITDA in the Cable TV and Internet Access segments.
During FY17, the Company invested P$11,681 million, which represented an increase of 28.7% from P$9,076 million reported in FY16. These Capital Expenditures are mainly comprised by subscriber growth, network upgrades and digitalization.
As of December 31, 2017, total consolidated Cable TV subscribers reached 3,503 thousand, from 3,528 thousand registered in the same period of 2016. Internet subscribers totaled 2,335 thousand as of December 31, 2017 vs. 2,183 thousand as of December 31, 2016.
Debt and Liquidity
Total Financial Debt (1) increased from P$9,606 million in FY16 to P$10,905 million in FY17. On the other hand, Net Debt decreased from P$6,936 in FY16 to P$6,451 million in FY17. This represents an increase of 13.5% in Total Debt and a decline of 7.0% in Net Debt. The decrease in Net Debt is mostly explained by an increase in cash and equivalents due to a higher operating cash flow generation.
Debt Coverage Ratio (1) as of December 31th, 2017 was 0.43x in the case of Net Debt and of 0.72x in terms of Total Financial Debt.
(1) Debt Coverage Ratio is defined as Total Financial Debt divided by Adjusted EBITDA (calculated in Ps. for the last twelve months). Total Financial debt is defined as financial loans and debt for acquisitions, excluding accrued interest.
On October 30th, 2017, within the framework of the merger process between Cablevisión and Telecom, the company called for a Shareholders´ Meeting in order to request to the the holders of its Class A Notes, issued for a nominal amount of U$S500 million, the modification and/or elimination of certain clauses (or part of them) from the 'Indenture' celebrated on June 15, 2016 between Cablevisión, Deutsche Bank Trust Company Americas, Deutsche Bank S.A. and Deutsche Bank Luxembourg S.A.
On December 11, 2017, it was celebrated the Extraordinary Shareholders´ Meeting of the Class 'A' Notes Holders which had a quorum of 81.8621626% of the total capital and vote amount of the Notes. In the aforementioned Shareholders´ Meeting it was unanimously determined to approve the modifications and/or eliminations of the clauses (or part of them) from the Indenture celebrated on June 15, 2016 between Cablevisión, Deutsche Bank Trust Company Americas, Deutsche Bank S.A. and Deutsche Bank Luxembourg S.A.
On the occasion of the issuance and subsequent modification, aforementioned, of the Company´s Notes, certain commitments have been assumed including: (i) the limitation for the issuance of guarantees by the Company and its subsidiaries, (ii) merger by absorption and merger itself, (iii) limitation to indebtedness above approved ratios, (iv) limitation for the issuance and sale of shares from any significant subsidiary with certain exceptions, among others.
Telecom Argentina is the parent company of a leading telecommunications group in Argentina, where it offers, either itself or through its controlled subsidiaries local and long distance fixed-line telephony, cellular, data transmission, and pay TV and Internet services, among other services. Additionally, Telecom Argentina offers cellular services in Paraguay and pay TV services in Uruguay. The Company commenced operations on November 8, 1990, upon the Argentine government's transfer of the telecommunications system in the northern region of Argentina.
As of March 7, 2018, Telecom Argentina has 2,168,909,384 shares issued and 2,153,688,011 shares outstanding.
For more information, please contact Investor Relations:
Solange Barthe Dennin
(5411) 4968 3752
Luis F. Rial Ubago
(5411) 4968 3718
(5411) 4968 6236
(5411) 4698 4448
Voice Mail: (5411) 4968 3628 Fax: (5411) 4968 3616 E-mail: email@example.com
For information about Telecom Argentina's services, visit:
www.telecom.com.ar www.personal.com.ar www.personal.com.py www.arnet.com.ar www.cablevisionfibertel.com.ar www.nextel.com.ar
This document may contain statements that could constitute forward-looking statements, including, but not limited to, the Company's expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; the effects of its debt restructuring process; the impact of emergency laws enacted by the Argentine Government; and the impact of rate changes and competition on the Company's future financial performance. Forward-looking statements may be identified by words such as 'believes,' 'expects,' 'anticipates,' 'projects,' 'intends,' 'should,' 'seeks,' 'estimates,' 'future' or other similar expressions. Forward-looking statements involve risks and uncertainties that could significantly affect the Company's expected results. The risks and uncertainties include, but are not limited to, the impact of emergency laws enacted by the Argentine government that have resulted in the repeal of Argentina's Convertibility law, devaluation of the peso, various changes in restrictions on the ability to exchange pesos into foreign currencies, and currency transfer policy generally, the 'pesification' of tariffs charged for public services, the elimination of indexes to adjust rates charged for public services and the Executive branch announcement to renegotiate the terms of the concessions granted to public service providers, including Telecom. Due to extensive changes in laws and economic and business conditions in Argentina, it is difficult to predict the impact of these changes on the Company's financial condition. Other factors may include, but are not limited to, the evolution of the economy in Argentina, growing inflationary pressure and evolution in consumer spending and the outcome of certain legal proceedings. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as the date of this document. The Company undertakes no obligation to release publicly the results of any revisions to forward-looking statements which may be made to reflect events and circumstances after the date of this press release, including, without limitation, changes in the Company's business or to reflect the occurrence of unanticipated events. Readers are encouraged to consult the Company's Annual Report on Form 20-F, as well as periodic filings made on Form 6-K, which are filed with or furnished to the United States Securities and Exchange Commission for further information concerning risks and uncertainties faced by Telecom.
Contacts:Solange Barthe Dennin (54 11) 4968-3752
SOURCE Telecom Argentina S.A.Related Links
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The future of management: more agile, more digital, more global. A number of global forces—from disruptive technologies such as robotics to the continuing rise of emerging markets—will have a profound effect on business in the decades to come. For management this presents both challenges, as well as new opportunities. "As digitization permeates every nook and cranny of every company, managers at all levels must be fluent in how to best leverage technology and data–the opportunities they present as well as the threats they introduce," Guest Columnist Irving Wladaswky-Berger writes.
More corporate boards and CEOs recognize the competitive advantage Big Data. In a recent survey of 250 global executives, 85% said the board of directors was a primary or strong influencer of Big Data analytics adoption within their companies. The CEO was seen as a key driver among 86% of respondents. That kind of buy-in is good news for CIOs, Matt Reilly, senior managing director at Accenture Strategy, tells CIO Journal. "To get the big outcomes, the CIO now has to be part of the business leadership team,” said Matt Reilly, senior managing director at Accenture Strategy. That “puts the CIO squarely in the discussion,” Mr. Reilly said.
Kmart stores hit by data breach. Sears Holdings Corp. said the payment systems at its Kmart stores were breached by malicious software. The breach, believed to have started in early September, was discovered Thursday, Sears said, noting some debit and credit-card numbers of customers who shopped at Kmart were compromised. A spokesman tells the WSJ that the malware found in Kmart’s payment systems was undetected by current antivirus software and that it had since been removed and the virus contained.
J.P. Morgan CEO: cybersecurity spending to double. J.P. Morgan Chase & Co. Chairman and Chief Executive James Dimon said the bank over the next four to five years was likely to double its spending on cybersecurity from $250 million annually in 2014, the Journal reports. “We have to be vigilant,” he said, adding that issues around cybersecurity “will happen for a long time.” Last week, J.P. Morgan said the breach that hit the bank last summer had compromised contact information—but not sensitive account data—for 76 million households and about seven million small businesses.
Which spies visited the port of Baltimore? Visitor logs kept by the Maryland Port Administration were exposed because officials apparently misconfigured an Oracle Corp. database server, a security researcher tells the WSJ. The names of visitors to the port of Baltimore included Defense Intelligence Agency employees.
MORE TECHNOLOGY NEWS
Twitter users in France can tweet money. French users of Twitter Inc.’s microblogging service can now tweet money to their followers, the Financial Times reports. The move puts Twitter ahead of Facebook Inc. in enabling person-to-person money transfers. S-money, a division of Group BPCE, has teamed with Twitter to offer the service which will be available to anyone with a bank account and a Twitter handle in France.
Will ads be the next net-neutrality battle? Executives at an Israeli tech startup believe some wireless carriers are prepared to use its technology to open a new front against Internet firms such as Google Inc., Facebook Inc. and Twitter Inc., writes Christopher Mims. Ron Porat and Roi Carthy of Shine Technologies say that telecom companies want and deserve a cut of the billions of dollars in revenue generated by advertising on content and services delivered over wireless networks, since those firms own that infrastructure. Shine has pivoted to delivering its technology called AdSight, which would enable carriers to monitor what ads are being delivered through their networks, after it realized that wireless firms had more pressing concerns than malware, which had been its previous focus.
Race is on to build first driverless car. Fired up by Google Inc.’s driverless prototype, car makers such as Mercedes-Benz and Volvo are already testing autonomous vehicles on public roads, the Financial Times reports. Still, the advanced sensors and electronics required for such cars are often made by suppliers, not the car manufacturers, demonstrating the technological hurdles such firms have yet to surmount, even as they push ahead with the products.
Salesforce makes its Big Data move. Salesforce.com Inc. is introducing a new product called Wave, the Analytics Cloud, at the start of its huge annual conference, the New York Times reports. Wave is intended to create sales, service and marketing analytics, either in packaged or custom forms, which can be read on desktop and mobile devices. It will stress the data within Salesforce products, but can also import third-party information.
VCs return to backing science startups. After years of shying away from science, engineering and clean-technology startups, venture capitalists are taking an interest in them again, the New York Times reports. That said, the startups face intense pressure to become profitable more quickly than other technology companies like Snapchat and Uber.
Cloud computing forces a reconsideration of IP. Data clouds make it possible to shift, remix and borrow critical information from once separate industrial categories, and that is leading to a major reconsideration of existing protections for intellectual property, the New York Times reports. In some cases, that means relying on open-source software to distribute new work as widely as possible. “Open source isn’t just a way to give back to the community. It’s a way to blow up the other guy,” said Bill Hilf, who oversees Hewlett-Packard Co.’s work on OpenStack, a kind of open-source, cloud-computing software.
Chip maker's warnings rattle industry. Microchip Technology Inc. on Thursday lowered its forecast for fiscal second-quarter revenue, stating that chip sales it expected in September failed to materialize. The company said one major cause was weak demand from customers in China. The company, though not among the biggest chip makers, is considered a bellwether because of its broad set of products and customers, the WSJ's Don Clark reports.
GT Advanced to close Arizona, Massachusetts sapphire plants. Apple Inc. supplier GT Advanced Technologies Inc. said the closure of its Arizona and Massachusetts sapphire plants will cost 890 people their jobs, the WSJ’s Joseph Checkler reports. GT’s agreements with Apple to produce sapphire for iPhone screens were “oppressive and burdensome” and terminating the companies’ deal was the only way to stop the bleeding, GT said in filings with U.S. Bankruptcy Court in New Hampshire.
After gaffe, Microsoft board to look at gender pay gap, male culture. Microsoft Corp.’s pay practices and attitude toward women are open to question and will likely be taken up at the board level, according to one director, Maria Klawe, Reuters reports. The issue hit headlines on Thursday when new CEO Satya Nadella suggested women in tech should not ask for pay raises but instead should trust the system and rely on “karma” to get what they deserve.
Snapchat blames third-party apps for any leaked photos. Snapchat responded to reports that tens of thousands of photos shared privately on its service had been intercepted and posted publicly, blaming unauthorized third-party apps for the security breach, the WSJ’s Douglas Macmillan reports. The incident shines a light on the dangers of using unofficial third-party apps to share private messages and photos. Apps available on the Google Play store allowed users to save photos and videos sent to them on Snapchat, skirting the social service’s policy of deleting those files shortly after they are viewed.
EVERYTHING ELSE YOU NEED TO KNOW
Banks back plan for failing lenders. The largest lenders in the U.S., Europe and Japan over the weekend agreed to new procedures to help inoculate the global financial system against the failure of giant banks. Executives of the 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution.
Global slowdown threatens recovery. Gathering signs of a slowdown across many parts of the world are roiling markets and confounding policy makers, who after years of battling anemic growth have limited tools left to jump-start a recovery. The U.S. remains a relative bright spot in an otherwise gloomy picture, but doubts are building over the U.S. economy’s ability to accelerate as some of its biggest trading partners struggle.
Japan’s tax decision a global bellwether. Japan’s decision of whether to approve a boost in its sales tax resembles debates roiling maturing economies: Is it more urgent to grow faster or to pay down debt before a country grows too old to cover it? The dilemma mirrors the dynamics in Europe, where France and Italy recently delayed deficit-reduction plans, fearing that spending cuts could tip their fragile economies back into recession. And the U.S. shares Japan’s condition of high government debt and an aging population.
Tom Loftus contributed to this article.
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