The Morning After: Google Stadia's launch game line-up gets a big boost - Engadget

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Hey, good morning! We kick off the week with the launch of Google's much-publicized Stadia streaming game service tomorrow, with the company fleshing out the launch line-up with an extra 10 games -- although none of them are particularly new, and none are exclusive. It's an interesting week to launch something that could be the future of gaming: This is the same week Nintendo launches the Wii, SNES and the DS. And the same week Microsoft's Xbox One and Xbox 360, the Sega Saturn and, er, the Atari Jaguar all launch, too. Will Google's Stadia join such illustrious company?

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The new list includes 'Metro Exodus,' 'NBA 2K20' and 'Football Manager 2020'.Google Stadia's launch line-up gets a 10-game boost

After announcing its cloud-streaming Stadia game service would launch with just 12 titles, Google has nearly doubled that number, a mere day ahead of launch. The service will now arrive with 10 additional games, bringing the total to 22. That'll include Football Manager 2020 and NBA 2K2020, giving Stadia a couple of the sports titles it was completely lacking before. In comparison, Microsoft is launching its xCloud preview with well over 50 titles.

The full, updated line-up is right here.

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But is it an actual Mustang?
Ford's Mustang Mach-E straddles the world of EVs, SUVs and muscle cars

Ford's new electric vehicle is the Mustang Mach-E -- but it's not entirely a Mustang. It's more like a crossover with hints of Mustang design. Ford seems to have a version of the Mach-E for every type of driver. It'll be available in five trim models starting at $43,895 and will roll into showrooms in late 2020. The First Edition (270-mile range at $59,900), Premium (300 miles at $50,600) and GT (235 miles at $60,500) showing up on the road first. The California Route (300 miles at $52,400) and Select (230 miles at $43,895) will both land in early 2021.

Ford famously announced it would stop selling cars in the United States -- except for the Mustang, which continues to be a hit for the automaker. The result is Ford's first big EV -- an SUV with a Mustang badge. Read on for Roberto Baldwin's report.

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This may be more about winning tariff exemptions than anything else.
President Trump will visit Apple's Mac Pro factory on November 20th

The White House has confirmed that President Trump will visit Apple's Mac Pro factory in Austin, Texas, on November 20th, backing up rumors of an impending tour. It's not clear if Tim Cook or other Apple executives will be present, but it wouldn't be surprising given the optics. Apple wants to be seen as having the Trump administration's support, while Trump wants to be seen supporting American jobs.

For Apple, though, there's an extra level of urgency. The next big round of US tariffs on China is poised to take effect on December 15th, and it could easily raise the cost of selling phones, laptops, monitors and other mainstays of Apple's product lineup.

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It's trying to reduce dissent by silencing communication.
Iran shuts down nearly all internet access in response to fuel protests

The Iranian government has shut down nearly all internet access in the country amid mounting protests that began over a 50-percent hike in fuel prices and now encompass wider dissent. There are pockets of access that have let people show what's happening on the ground, but they're rare. Phone calls abroad still work, but those are also closely monitored. The government hasn't formally acknowledged the internet shutdown.

But wait, there's more...

• HP rejects Xerox buyout offer, at least for now
• mTiny robot review: Screen-free coding for kids
• Stanford's new tech-laden hospital includes pill-picking robots

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In this article: entertainment, gear, internet, stadia, themorningafter

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2019-11-18 11:45:39Z
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Emirates orders 50 Airbus A350 jets worth a total $16 billion - CNBC

An Airbus A380-800 passenger plane of the Emirates Airlines at Moscow's Domodedovo Airport.

Mikhail Tereshchenko | TASS | Getty Images

DUBAI, United Arab Emirates — Emirates has ordered 50 Airbus A350 jets, the Dubai state-owned airline announced at the Dubai Air Show on Monday.

The order's list price sits at $16 billion, but a steep discount is typically negotiated by airlines. The deal was originally slated to see Emirates order 70 planes from the French manufacturer — 40 of the A350s and 30 A330-900neo jets — but all A330 orders were scrapped in favor of bringing the A350 order size to 50.

Airbus CEO Guillaume Faury told a press conference that the European multinational planemaker's flagship A380 would now have a "younger but very talented brother in the Emirates family."

The A350 is a family of long-range, twin-engine wide-body jet airliners, while the A380 is the world's largest passenger airliner. The 50 jets ordered by Emirates are its cornerstone A350-900 variety, accommodating between 300 and 350 passengers.

"Complementing our A380s and 777s, the A350s will give us added operational flexibility in terms of capacity, range and deployment," Emirates Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum told press. "In effect, we are strengthening our business model to provide efficient and comfortable air transport services to, and through, our Dubai hub."

The announcement of the order comes after an underwhelming first day for the Middle East's flagship aerospace expo, with only two jets sold on Sunday.

The Emirates CEO declined to discuss the reasons behind the company's A330 order cancellation, saying only, "For anybody touching on the A330, that is not part of the discussion today."

The A330-900 is a slightly thinner variant of the A350-900, carrying less passengers and with a slightly slower cruising speed. The A350 is more expensive but lighter, meaning less fuel costs and more savings over time, aviation analysts say.

Emirates is the number one buyer of Airbus' iconic A380, the world's largest airliner, but its cutback on orders of the jumbo jet early this year led the French manufacturer to announce it would scrap its production. Aviation analysts called it the "end of an era," as the industry's symbol of excess and luxury flight was sidelined for smaller, more fuel-efficient planes now increasingly preferred by airliners.

Asked if a reversal of the decision was possible and the jet's production might be continued, Faury replied, "The decision is in implementation now, we love the A380 at Airbus, it is a great plane and will continue to fly for decades, we are committed to supporting it. But no, the decision that was taken to cease production is not reversed."

The last A380 will be delivered in 2021.

Airbus Chief Corporate Officer Christian Scherer told CNBC on Sunday that the A380 was by no means finished, however, as the company turns to the secondhand market to keep the jet in use. Scherer described the A380 as having "many, many profitable years" to come.

The Dubai Air Show, known for record-breaking mega deals, is expected to see fierce competition for deals from rivals Airbus and Boeing, who each own approximately half of the market for large commercial airliners. But the American planemaker's presence has been subdued thus far, weighed down by Boeing's two catastrophic 737 Max jet crashes in a span of five months, which killed a combined 346 people.

Boeing's fleet of some 400 737 Max jets has been grounded since March, denting airlines' profits, forcing carriers to cancel thousands of flights and pushing up costs. On the air show's first day, the manufacturer announced a sale of two of its 787-9 Dreamliner jets to Biman Bangladesh Airlines, valued at $585 million at list prices.

Asked on Sunday if the 737 Max's grounding benefited Airbus, Scherer forcefully rejected the notion, telling CNBC: "This does not benefit anyone in this industry, the least of which would be Airbus... it is not good for competitors to see problems on any one particular airplane type."

At the start of the last Dubai Airshow in 2017, Boeing kicked off the event by clinching a major sale of 40 787-10 jets to Emirates Airline at a value of $15.1 billion.

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2019-11-18 09:29:00Z
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Saudi Aramco to sell 1.5% stake, valuing company up to $1.7T - Fox Business

OPIS chief oil analyst Tom Kloza discusses Iran's discovery of a new oil field, how large recently discovered oil fields will make 2020 a cheap year for oil, and the possibility of Iran announcing its discovery to undermine the Saudi Aramco IPO.

By JON GAMBRELL and MALAK HARB Associated Press

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DUBAI, United Arab Emirates (AP) — Saudi Arabia's state-owned oil giant Aramco announced Sunday it will sell a 1.5% stake in the company as it looks to raise as much as $25.6 billion from the sale.

The newly released figures also revealed a valuation for the company that's between $1.6 trillion and $1.7 trillion, a figure that fell short of the $2 trillion mark Crown Prince Mohammed bin Salman had sought.

Still, a 1.5% flotation could raise between $24 billion and $25.6 billion to help fuel the Saudi economy. Saudi Aramco announced it will have 200 billion regular shares, selling 1.5% or what is 3 billion shares.

Aramco set a stock price range of 30 to 32 Saudi riyals, or $8 to $8.50 a share for investors.

WITH ARAMCO IPO APPROVAL, CHINA COZIES UP TO SAUDIS

The company is selling 0.5% to individual investors, which will include Saudi citizens, residents of Saudi Arabia and Gulf Arab nationals, and 1% to institutional investors, which could include major Chinese and Russian buyers.

A man walks near a compound for Saudi Aramco in Jiddah, Saudi Arabia, Sunday, Nov. 3, 2019. (AP Photo/Amr Nabil)

Aramco will announce the final price for the stock when the book-building period ends on Dec. 5. Trading on the local Tadawul exchange in Riyadh is expected to happen sometime in mid-December.

The highly anticipated sale of a sliver of the company has been generating global buzz because it could clock in as the world’s biggest initial public offering, surpassing record holder Alibaba whose IPO raised $21.8 billion on its first day of trading in 2014.

Saudi Aramco is the kingdom’s oil and gas producer, pumping more than 10 million barrels of crude oil a day, or some 10% of global demand. The oil and gas company netted profits of $111 billion last year, more than Apple, Royal Dutch Shell and Exxon Mobil combined.

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The kingdom’s plan to sell part of the company is part of a wider economic overhaul aimed at raising new streams of revenue for the oil-dependent country, particularly as oil prices struggle to reach the $75 to $80 price range per barrel analysts say is needed to balance Saudi Arabia’s budget. Brent crude is trading at just over $63 a barrel.

FILE - In this Sept. 20, 2019, file photo, taken during a trip organized by Saudi information ministry, workers fix the damage in Aramco's oil separator at processing facility after the recent Sept. 14 attack in Abqaiq, near Dammam in the Kingdom's E

Prince Mohammed has said listing Aramco is one way for the kingdom to raise capital for the country’s sovereign wealth fund, which would then use that revenue to develop new cities and lucrative projects across Saudi Arabia.

Despite Aramco’s profitability, the state’s control of the company carries a number of risks for investors.

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Two key Aramco processing sites were targeted by rockets and missiles in September, an attack which claimed by Iran-Backed Houthi rebels in neighboring Yemen but which Saudi Arabia blamed on its regional foe Iran. The government also stipulates oil production levels, which directly impacts Aramco’s output.

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Associated Press writer Aya Batrawy in Dubai, United Arab Emirates, contributed to this report.

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2019-11-17 11:41:19Z
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The world's most valuable company: Saudi Arabia puts $1.7 trillion price tag on its oil monopoly - CNN

In a statement Sunday, Saudi Aramco said it was aiming to sell about 1.5% of its 200 billion shares in a partial privatization for between 30 riyals ($8) and 32 riyals ($8.53) each.

That means Aramco, the most profitable company in the world, could be worth between 6 trillion riyals ($1.6 trillion) and 6.4 trillion riyals ($1.7 trillion) — making it also by far the world's most valuable company ahead of Apple (AAPL).

That won't be the only record to fall if Aramco achieves the higher price: at that level, the share sale would raise just over $25 billion, making it slightly bigger than Alibaba's (BABA) 2014 debut on the New York Stock Exchange, so far the world's biggest IPO.

Saudi Arabia is selling shares in Aramco for the first time as part of an economic diversification plan aimed at weaning the kingdom off oil.

Aramco has vast oil reserves and massive daily output. It holds a monopoly in Saudi Arabia, the world's largest exporter of crude. It made $111 billion in profit in 2018, and has promised to pay an annual dividend of $75 billion through 2024.

Crown Prince Mohammed bin Salman had reportedly sought a valuation for Aramco near $2 trillion. But low oil prices, the climate crisis and geopolitical risk have raised skepticism among international investors. Up to 0.5% of the company will be sold to individuals, with the remainder offered to institutional investors.

Aramco may need to heavily rely on rich local families, sympathetic sovereign wealth funds or major customers such as China signing up for shares. Reuters reported Sunday that Aramco will not market the IPO abroad.

The price for the shares will be set on December 5, with trading on the Saudi stock exchange expected to start later that month, according to Aramco's prospectus.

Wall Street's biggest names are advising Saudi Arabia on the privatization, despite pressure from activists who say financing fossil fuel companies will worsen the climate crisis. They have also urged banks not to do business with the kingdom because of its human rights record, including the brutal murder of Washington Post columnist Jamal Khashoggi.

Aramco listed Bank of America (BAC), Goldman Sachs (GS), JPMorgan (JPM), Citigroup (C), Credit Suisse (CS), Morgan Stanley (MS) and HSBC (HBCYF) as joint financial advisers on the transaction. They have all previously declined to comment to CNN Business.

— John Defterios and Julia Horowitz contributed to this article.

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2019-11-17 11:25:00Z
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Saudi Arabia values oil giant Aramco far below original target - Aljazeera.com

Saudi Aramco has set a price range for its listing that implies the oil giant is worth between $1.6 trillion to $1.7 trillion, below the two trillion dollars the Saudi Arabian crown prince had targeted but still making it potentially the world's biggest initial public offering.

Aramco said on Sunday it plans to sell 1.5 percent of its shares or about three billion shares, at an indicative price range of 30 riyals ($8.00) to 32 riyals ($8.53) each - valuing the IPO at as much as 96 billion riyals ($25.60bn) at the top end of the range.

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If priced at the top, the deal could just beat the record-breaking $25bn raised by Chinese e-commerce giant Alibaba in its stock market debut in New York in 2014.

Aramco's float is the centrepiece of Crown Prince Mohammed bin Salman's plan to diversify the world's top crude exporter away from oil.

Aramco does not plan to market its domestic IPO abroad, three people familiar with the matter said, which suggests international roadshows will not take place.

"This will put the burden of the deal on local and regional banks," one of the three people said.

"This means most of the investors will participate as Qualified Foreign Investors in a Saudi transaction," another one of the people said.

Aramco finally kicked off its IPO on November 3 after a series of false starts. Crown Prince Mohammed, who had floated the idea of the listing four years ago, is seeking to raise billions of dollars through the deal to invest in non-oil industries and generate employment.

But the investment world is still trying to decide what the famously secretive company is worth. Analysts from banks working on the Riyadh bourse had projected a wide valuation range for Aramco of between $1.2 trillion to $2.3 trillion.

On one hand, Aramco is the world's most profitable company with a planned dividend of $75bn next year, more than five times greater than Apple's payout, which is already the biggest of any S&P 500 company.

On the other, it is a bet on the price of oil at a time when global demand is expected to slow from 2025 as measures to cut greenhouse gas emissions are rolled out and the use of electric vehicles increases.

Risky bet?

The deal is also rife with political risk, as the Saudi government - which relies on Aramco for the bulk of its funding - will continue to control the company. Prince Mohammed's reputation was tarnished by the murder of Saudi journalist Jamal Khashoggi last year.

In addition, Aramco's oil plants were targeted on September 14 in attacks which initially halved its output. The firm has said the strikes would not have a material impact on its business.

The share sale is expected to be a huge hit among Saudi citizens who are being offered 0.5 percent of the company.

Al Jazeera's Economics Editor, Abid Ali, says many of the country's billionaires, some of whom were detained by Saudi authorities in Riyadh's Ritz Carlton hotel in a 2017 anti-corruption crackdown, are likely to also be big investors when the shares are sold.

"On that level, it will be a success, because on the day that the shares will be sold, the Saudi pension funds, investment funds, will pick up any of the stock that's left over," Ali said. 

But, he says, international investors are staying away.

"There are different ways to value Saudi Aramco. There's use of the oil price, free cash flow, and dividends. And on most of these measures, the maths just did not stack up. And many international investors didn't fancy being a passenger in a car that's being driven by the Saudi authorities," he added.

Retail investors have until November 28 to sign up for the IPO while institutional investors can subscribe until December 4, with company management going on marketing roadshows this week.

The Aramco listing means a year-end rush for equity markets with Alibaba currently taking orders for a Hong Kong listing that is expected to raise up to $13.4bn for the online retailer.

The Riyadh listing comes after initial hopes for a five percent IPO on the domestic and international bourses were dashed last year amid debate over-valuation and where to list Aramco overseas.

Aramco said the IPO timetable was delayed because it began a process to acquire a 70 percent stake in petrochemicals maker Saudi Basic Industries Corp.

SOURCE: Al Jazeera and news agencies

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2019-11-17 09:49:00Z
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Fans Getting Charged Up To See Ford's New Electric Mustang SUV - NPR

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Ford's Mustang Mach-E will be unveiled Sunday. It's part of the Detroit-based company's $11 billion investment in electric cars. Ford hide caption

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Ford

The Mustang — one of the most quintessentially American cars — is about to kick off a new chapter. After years of secrecy, Ford is unveiling the Mustang Mach-E, an electric SUV "inspired" by the classic car's key design elements.

The big reveal is happening Sunday in Los Angeles, days ahead of the annual auto show there.

The Detroit-based company's classic hush-hush marketing strategy has had fans of the iconic car scouring the Internet for clues about how it will look and drive. And, on Thursday night, they hit the mother lode. Or at least, it's possible they hit it.

For a brief window, someone at Ford published the SUV's reservations website, complete with photos, specs and pricing. But the site was quickly taken down and Ford has not confirmed any of the details that it contained, which seems top have fanned the flames for eager fans.

Among them, is Gary Hankins, who said he's been trying to piece together bits of information about the car for the last two years — an admirable feat considering he didn't even know the name of the car until this week.

All Ford is officially saying for now is that the SUV will be on the market in late 2020 — part of the company's $11 billion investment in electric cars. The automaker also says the estimated range of the SUV will be a whopping 300 miles on a single charge.

That was enough to make Hankins, a retired D.C. cop, "go absolutely gaga," according to his friends. For Hankins, the fact that it'll look a little like a Mustang is "really icing on the cake."

Finally owning a car with the Mustang named attached would be the fulfillment of a teenage dream.

"I was in high school in the '60s when the Mustang came out," he recalled wistfully. "I would love to have had a Mustang. [I] couldn't afford one."

More than five decades later, Hankins is thrilled he's got a lot more money in the bank. "Here I am, now 71 years old, I'm finally getting my Mustang," he said.

Hankins is angling to get on a pre-order list for the teched-out pony car, which Ford says he'll be able to do as early as Sunday night.

The only official peek of what the SUV will look like, is a vague swooping blue drawing on Ford's website. But, Thursday's leaked photos along with others captured by eagle-eyed enthusiasts last week, show it's a fairly compact and sporty version of an SUV.

Car designer Camilo Pardo is a skeptical of attaching the Mustang name to an SUV. "If an SUV could speak, the first thing it would say is, I want to be a Mustang," he said and laughed.

Pardo, the former head of Ford's Living Legends studio and the chief designer of Ford's GT, says hardcore Mustang fans should manage expectations when it comes to any family friendly crossover. But he suspects the reimagined version will possess three essential iconic elements.

First, it's got to have the big grill, which "is supposed to look intimidating."

"Like it's out to get you," he said.

Second, he said, the headlamps have to have the trademark "frowny" shape that give it "the personality of an angry animal."

Finally, it has to have the unmistakable taillights. Pardo said experimenting with those has always been a fun thing for designers. The challenge is figuring out how to modernize the three little bars the Mustang is known for.

Gail Wise is widely recognized as the first person to buy a Mustang in the U.S. She got hers on April 15, 1964, two days before it debuted at New York's World Fair. Courtesy of Gail Wise hide caption

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Courtesy of Gail Wise

Based on the sales track record of most electric cars, it's unlikely this Ford model will prove as popular as the 1964 original. That had one of the most successful product launches in American history.

Gail Wise remembers the frenzy around the campaign, which much like today's was shrouded in mystery. "Ford had not shown the car on TV. They only advertised the logo," she recalled.

Wise is widely recognized as the first person in the U.S. to buy the car. She was 22 and wanted a convertible. The salesman said he had just the car.

He walked Wise, and her parents, past all of the cars on the showroom floor saying he had something special to show her.

"And in the back room, under a tarp, was a skylight blue Mustang and I was like, wow, that's for me," she said.

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Gail Wise sits in her 1964 Mustang as Ford celebrates the production of the 10 millionth Mustang at in August 2018. Jeff Kowalsky/AFP via Getty Images hide caption

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Jeff Kowalsky/AFP via Getty Images

It was April 15, 1964, two days before the car debuted at the New York World's Fair. The salesman wasn't supposed to sell it. But he did. It cost $3,447.50.

Fifty-five years later, Wise still has the skylight blue beauty. (Her husband Tom fully restored the car as a retirement project.)

Wise says she knows she's biased, but she wonders if being Mustang "inspired" will be enough to make Ford's new venture an icon, too.

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2019-11-16 13:01:00Z
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Under Armour reportedly borrowed business from future quarters in 2016 to hide slowing demand - CNBC

An Under Armour store front is seen on November 04, 2019 in Sunrise, Florida.

Joe Raedle | Getty Images

Under Armour borrowed business from future quarters to hide slowing demand in 2016, the Wall Street Journal reported Thursday.

The Department of Justice and Securities and Exchange Commission have been investigating the Baltimore-based company over its accounting practices. The two investigations were confirmed by Under Armour in early November, but the company has said that it has been cooperating with investigators since July 2017.

In 2016, Under Armour leaned on retailers to take goods early, former executives in sales, logistics, merchandising and finance told the Journal. Sportswear intended for factory stores would be sent to off-price chains in order to book sales in the final days of a quarter, according to the Journal.

Some of the executives told the Journal that such moves were common in the retail industry.

A person familiar with the matter told the Journal that federal investigators are examining emails that show that Under Armour's founder and CEO Kevin Plank knew about the efforts. Plank is stepping down as chief executive Jan. 1, but will remain with the company as executive chairman. President and Chief Operating Officer Patrik Frisk will replace him as CEO.

Under Armour said in a statement that the ongoing investigation constrains the company from addressing every allegation in the media. Under Armour's management and board of directors stand by its financial reporting, the company said.

The statement said, in part, "In this respect, our process for recognizing revenue and recording returns and other allowances has not changed and has always been in compliance with generally accepted accounting principles."

Under Armour shares were down less than 1% in premarket trading Friday. The stock has fallen 3% since the start of the year. It has a market value of $7.7 billion.

Here's the full statement from Under Armour:

We are aware of recent media coverage concerning Under Armour's business practices. As we have stated previously, we firmly believe that our disclosures and our accounting practices have been entirely appropriate. Our management and board of directors have reviewed this matter extensively over the past two and a half years and stand by the Company's financial reporting. Because the investigation is ongoing, we are constrained in our response and cannot address every allegation raised in the media or by anonymous sources cited in the news.

When Under Armour speaks, we always communicate our best understanding as to the market and the Company's prospects. For many years, quarterly shifts in wholesale revenue related to timing of shipments based on financial goals; customer requests; year-to-year seasonal variance; different fiscal calendar alignments; product availability; logistics; and numerous other dynamics have been, and continue to be, part of the normal course of business practices in the apparel, footwear and retail sector. In this respect, our process for recognizing revenue and recording returns and other allowances has not changed and has always been in compliance with generally accepted accounting principles. Indeed, as reported by certain media outlets, analysts and accounting experts agree that such end-of-quarter practices are generally permitted under accounting rules.

Under Armour has become one of the world's largest athletic performance brands through industry-defining innovation, ambitious and driven leadership, and a culture that holds itself to the highest standards of integrity including operating within standard industry business practices and always in compliance with generally accepted accounting principles.

Read the Wall Street Journal's full story here.

-- CNBC's Lauren Thomas contributed to this report.

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2019-11-15 13:15:00Z
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