Tag Archives: Role
BERLIN (Reuters) – German ministers were due to meet on Wednesday to discuss how to safeguard security in future 5G mobile networks, two government sources said, amid intense debate over whether to shut China’s Huawei Technologies out of the market.
FILE PHOTO: A man walks by a Huawei logo at a shopping mall in Shanghai, China, Dec. 6, 2018. REUTERS/Aly Song/File Photo
Chancellor Angela Merkel has said Germany needs guarantees that Huawei would not hand data to the Chinese state before it can take part in building fifth-generation networks that would link everything from vehicles to factories at far greater speeds.
Dieter Kempf, head of the Federation of German Industry (BDI), threw his weight behind Merkel, saying that ensuring firms like Huawei meet tough security standards would be wiser than a blanket ban on China.
“It makes no sense,” Kempf told Reuters in an interview. “It would narrow the choice of vendors. That could affect costs. More importantly, there would be political consequences – China could be tempted to retaliate against German companies.”
The Handelsblatt daily cited government sources as saying the meeting would focus on whether a security catalog, drafted by the federal network regulator (BNetzA) and cybersecurity watchdog (BSI), along with certification rules and a no-spy pact with China, would be enough to make 5G safe.
Huawei, the global networks market leader with annual sales exceeding $ 100 billion, faces international scrutiny over its ties with the Chinese government and suspicion Beijing could use its technology for spying, which the company denies.
A State Department official said on Tuesday that Washington sees the European Union as its top priority in a global effort to convince allies not to buy Huawei equipment for next-generation mobile networks over espionage concerns.
The German ministers’ session, scheduled after the weekly cabinet meeting, and attended by the interior, economy, finance, and transport ministers, follows a first high-level meeting last week.
At that gathering, attended by Germany’s three network operators, market leader Deutsche Telekom proposed a series of technical and compliance measures to safeguard security.
These included setting up an independent laboratory, under BSI oversight, to scrutinize all equipment used in critical infrastructure before it is deployed in the field.
“I believe the right path would be to make sure we manage our risks when it comes to tenders,” Kempf said.
“We must convey our reservations to the Chinese side and make it clear what we will not tolerate in our legal system.”
Government and industry sources said no decision was expected on Wednesday about whether to bar Huawei from Germany’s 5G auction, which is due to be held in the second half of March.
Sources say the different stakeholders have yet to reach a consensus on what course of action to take. Nor do they agree on whether a decision is needed before the 5G auction, which would provide clarity to operators before they strike deals to upgrade their networks to ready them for the launch of 5G services.
Additional reporting by Riham Alkousaa, Nadine Schimroszik and Michael Nienaber; Writing by Michelle Martin and Douglas Busvine; Editing by Mark Potter and Kirsten Donovan
Every once in a while I get a comment from an audience member after a keynote speech or from someone who read my book, Mapping Innovation, about why so few women are included. Embarrassed, I try to explain that, as in many male dominated fields, women are woefully underrepresented in science and technology.
The preponderance of evidence shows that women can vastly improve innovation efforts, but are often shunted aside. In fact, throughout history, men have taken credit for discoveries that were actually achieved by women. So, while giving women a larger role in innovation would be just and fair, even more importantly it would improve performance.
The Power of Diversity
Over the past few decades there have been many efforts to increase diversity in organizations. Unfortunately, all too often these are seen more as a matter of political correctness than serious management initiatives. After all, so the thinking goes, why not just pick the best man for the job?
The truth is that there is abundant scientific evidence that diversity improves performance. For example, researchers at the University of Michigan found that diverse groups can solve problems better than a more homogenous team of greater objective ability. Another study that simulated markets showed that ethnic diversity deflated asset bubbles.
While the studies noted above merely simulate diversity in a controlled setting there is also evidence from the real world that diversity produces better outcomes. A McKinsey report that covered 366 public companies in a variety of countries and industries found that those which were more ethnically and gender diverse performed significantly better than others.
The problem is that when you narrow the backgrounds, experiences and outlooks of the people on your team, you are limiting the number of solution spaces that can be explored. At best, you will come up with fewer ideas and at worst, you run the risk of creating an echo chamber where inherent biases are normalized and groupthink sets in.
How Women in Particular Improve Performance
While increasing diversity in general increases performance, there is also evidence that women specifically have a major impact. In fact, in one wide ranging study, in which researchers at MIT and Carnegie Mellon sought to identify a general intelligence score for teams, they not only found that teams that included women got better results, but that the higher the proportion of women was, the better the teams did.
At first, the finding seems peculiar, but when you dig deeper it begins to make more sense. The study also found that the high performing teams members rated well on a test of social sensitivity and took turns when speaking. Perhaps not surprisingly, women do better on these parameters than men do.
Social sensitivity tests ask respondents to infer someone’s emotion by looking at a picture (you can try one here) and women tend score higher than men. As for taking turns while in a conversation, there’s a reason why we call it “mansplaining” and not “womensplaining.” Women usually are better listeners.
The findings of the study are consistent with something I’ve noticed in my innovation research. The best innovators are nothing like the mercurial, aggressive stereotype, but tend to be quiet geniuses. Often they aren’t the types that are immediately impressive, but those who listen to others and generously share insights.
Changing The Social Dynamic
One of the reasons that women often get overlooked, besides good old fashioned sexism, is that that there are vast misconceptions about what makes someone a good innovator. All too often, we imagine the best innovators to be like Steve Jobs–brash, aggressive and domineering–when actually just the opposite is true.
Make no mistake, great innovators are great collaborators. That’s why the research finds that successful teams score high in social sensitivity, take turns talking and listening to each other rather, rather than competing to dominate the conversation. It is never any one idea that solves a difficult problem, but how ideas are combined to arrive at an optimal solution.
So while it is true that these skills are more common in women, men have the capacity to develop them as well. In fact, probably the best way for men to learn them is to have more exposure to women in the workplace. Being exposed to a more collaborative working style can only help.
So besides the moral and just aspects of getting more women into innovation related fields and giving them better access to good, high paying jobs, there is also a practical element as well. Women make teams more productive.
Building The Next Generation
Social researchers have found evidence that that the main reason that women are less likely to go into STEM fields has more to do with cultural biases than it does with any innate ability. For example, boys are more encouraged to build things during play and so develop spatial skills early on, while girls can build the same skills with the same training.
Cultural bias also plays a role in the amount of encouragement young students get. STEM subjects can be challenging, and studies have found that boys often receive more support than girls because of educators’ belief in their innate talent. That’s probably why even girls who have high aptitude for math and science are less likely to choose a STEM major than boys of even lesser ability.
Yet cultural biases can evolve over time and there are a number of programs designed to change attitudes about women and innovation. For example Girls Who Code provides training and encouragement for young women and UNESCO’s TeachHer initiative is designed to provide better educational opportunities.
Perhaps most of all, initiatives like these can create role models and peer support. When young women see people like the Jennifer Doudna, Jocelyn Bell Burnell and the star physicist Lisa Randall achieve great things in STEM fields, they’ll be more likely to choose a similar path. With more women innovating, we’ll all be better off.
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission has sent subpoenas to Tesla Inc (TSLA.O) regarding Chief Executive Elon Musk’s plan to take the company private and his statement that funding was “secured,” Fox Business Network reported on Wednesday, citing sources.
The electric carmaker’s shares fell as much as 4 percent but cut their losses after Goldman Sachs Group Inc (GS.N) said it was dropping equity coverage of Tesla because it is acting as a financial adviser on a matter related to the automaker.
Investors viewed the Goldman statement as confirming a tweet from Elon Musk on Monday about working with Goldman, even as the reported subpoenas indicated the SEC has opened a formal investigation into a matter.
The latest news extended the roller-coaster ride for Tesla investors in recent days, adding to uncertainty about the future course of the company and whether a deal can be done amid growing regulatory complications.
Tesla and the SEC declined to comment.
Musk stunned investors and sent Tesla’s shares soaring 11 percent when he tweeted early last week that he was considering taking Tesla private at $ 420 per share and that he had secured funding for the potential deal.
The shares fell 2.6 percent to $ 338.69 on Wednesday, below $ 341.99, their closing price the day before Musk tweeted his plan to take Tesla private.
The Tesla CEO provided no details of his funding until Monday, when he said in a blog on Tesla’s website that he was in discussions with Saudi Arabia’s sovereign wealth fund and other potential backers but that financing was not yet nailed down.
Musk also tweeted late Monday night he was working with Goldman Sachs and private equity firm Silver Lake as financial advisers. However, as of Tuesday, Goldman was still negotiating its terms of engagement with Musk, according to a person familiar with the matter.
The 47-year old billionaire’s tweet about secured funding may have violated U.S. securities law if he misled investors. On Monday, lawyers told Reuters Musk’s statement indicated he had good reason to believe he had funding but seemed to have overstated its status by saying it was secured.
The SEC has opened an inquiry into Musk’s tweets, according to one person with direct knowledge of the matter. Reuters was not immediately able to ascertain if this had escalated into a full-blown investigation on Wednesday.
This source said Tesla’s independent board members had hired law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP to help handle the SEC inquiry and other fiduciary duties with respect to a potential deal.
The Wall Street Journal said the SEC was seeking information from each Tesla director.
Reporting by Sonam Rai, Michelle Price and Supantha Mukherjee; Editing by Anil D’Silva, Nick Zieminski and Cynthia Osterman
DHAKA (Reuters) – Bangladesh’s finance minister said late on Saturday he wanted to “wipe out” a Philippines bank that was used to channel $ 81 million stolen from the Bangladeshi central bank’s account with the Federal Reserve Bank of New York last year.
Abul Maal A. Muhith was responding to questions from reporters about a Reuters story on Friday that said Bangladesh Bank had asked the New York Fed to join a lawsuit it was considering filing against Manila-based Rizal Commercial Banking Corp (RCBC) RCBS.PS seeking damages.
“The Bangladesh Bank has taken a decision (on filing a suit). They will let me know. We haven’t so far taken any steps as the Philippines government was taking care of it (investigating the heist),” Muhith said.
“But it seems Rizal bank has been playing delinquent. We want to wipe out Rizal bank from the world.”
Muhith did not elaborate. He did not respond to requests seeking comment.
Unidentified hackers stole the money using fraudulent orders on the SWIFT payments system. The money was sent to accounts at RCBC and then disappeared into the casino industry in the Philippines.
Nearly two years later, there is no word on who was responsible and Bangladesh Bank has been able to retrieve only about $ 15 million, mostly from a Manila junket operator. (reut.rs/2jk1W74)
The Philippine central bank fined RCBC a record one billion pesos ($ 20 million) last year for its failure to prevent the movement of the stolen money through it.
RCBC has said it would not pay any compensation to Bangladesh Bank and that Dhaka bank bore responsibility for the theft since it was negligent.
RCBC did not immediately respond to a request seeking comment on a Sunday about Muhith’s comments.
Reporting by Serajul Quadir, Krishna N. Das, Ruma Paul and Karen Lema; Editing by Toby Chopra