Daily Archives: June 14, 2023

Banking, manufacturing and pharmaceuticals firms are on the rise as prospective employers among third-level students, but tech multinationals have lost some ground, according to the latest Most Attractive Employers Index Ireland from IrishJobs.ie's Universum.

Highly publicised job losses and general uncertainty across the tech sector have had a knock-on effect on student preferences, although the likes of Google, Apple and Intel were generally in the top-ranked companies among imminent graduates.

Among Business & Economics students, Google and Apple placed first and second ahead of KPMG and PwC, with Microsoft completing the top five, falling one place from the previous survey.

JP Morgan was sixth, while Deloitte fell two places to seventh, and EY climbed two to eight. Goldman Sachs and new entrant TikTok filled the last two places in the top 10.

Outside the top 10, Bank of Ireland (12th), the Central Bank (up six to 13th), and Bank of America (+7 to 18th) all gained places while Amazon (-4 to 11th) and Facebook (-11 to 19th) both declined following mass layoffs.

Among Engineering students, Intel retained top spot, but Pfizer leapfrogged Google and Apple into second, while Microsoft fell from third to seventh behind Boston Scientific and Jacobs Engineering. Johnson & Johnson and Aer Lingus were static at eighth and ninth and ESB rose one to 10th.

There was some movement in top six most attractive employers among IT students, with Google unchanged at number one, while Apple overtook Microsoft for second and fourth-placed Intel placed ahead of Amazon and Facebook. Dell Technologies rose two places to seventh, and TikTok entered the list at nine, with Activision Blizzard in 10th.

Moreover, when it comes to the size of organisations where IT students want to work, large companies are down by 12% on last year, while small to medium-sized organisations increased by the same percentage.

Pfizer, J&J and Boston Scientific were the top three preferred employers of Natural Sciences students ahead of Glanbia, which swapped placed with the HSE, while Google, MSD, Regeneron, Kerry Group and Intel also made the list.

The Department of Education is favoured by Humanities students ahead of Google, RT, the HSE, and TikTok, which placed for the first time in 5th, with Apple, the Civil Service, Microsoft, An GardaSochna and Virgin Media all falling one place as a result.

The HSE and Pfizer were unmoved as the top two among Health & Medicine students as Vhi Healthcare overtook J&J for third and Laya Healthcare rose from eighth to fifth, consigning Boston Scientific and Boots to sixth and seventh. MedTech firm Medtronic surged from 16th to eighth, ahead of Abbott and the Department of Education.

Finally, among Law students, A&L Goodbody retained the top spot, and the Department of Justice fell from second to fourth behind Arthur Cox and Matheson. William Fry took fifth ahead of Google, and McCann Fitzgerald was unchanged in seventh ahead of risers Apple, Hayes Solicitors, and JP Morgan.

"Last year, with their reputation for innovation and also jobsecurity, global technology multinationals dominated the rankings," said Steve Ward, UK and Ireland business director at Universum.

"In 2023, however, it looks like headlines around job losses at major tech companies, many of whom have their European headquarters here in Ireland, have begun to impact on student preferences. For example, were seeing Business & Economics students return in greater numbers to their traditional homes in auditing and accounting. Banking institutions have also enjoyed a resurgence in popularity among this cohort.

Tech multinationals have also lost some ground among Engineering students this year, while manufacturing, construction and pharmaceutical companies have all moved up the ranks. Meanwhile, although Google, Apple and Microsoft continue to be the top three employers for IT students, we are seeing some interesting movement towards SMEs, which suggests that smaller, local companies are playing a role in helping to pick up surplus digital talent.

In terms of the companies making the greatest gains, Tesco increases its standing among IT and Natural Sciences students by 20 and 30 places, respectively, and Adobe shot up 27 places among Engineering students and by 11 places among Business & Economics students.

Penneysalso made large gains, rising 48 places among IT students and 14 places among Engineering students. In addition to TikTok, new entrants includeBus ireannandWorkday, withBus ireannis faring better among Engineering and IT students andWorkdayproving popular among IT and Business students.

(Pic: Getty Images)

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Students warier of tech giants as prospective employers following ... - Business Plus

A top consumer group was seen savaging the big tech community for laying down misleading crypto advertisements across top social media apps.

The news comes after a complaint was sent out to top consumer officials as well as the European Commission. This ended up causing major regulatory actions to be taken to prevent such actions from taking place, amid huge pressure from the international community.

Officials want to crack down against those whose main purpose is to deceive others to achieve their own gains while keeping a check on the international community of consumers.

Today, the ECO was seen filing complaints alongside the EC regarding such deceiving ads of crypto that continued to multiply across various social media platforms.

For those who may not be aware, crypto investments are very volatile and tend to keep users vulnerable to major risks and harms such as scams and even the chance to lose major sums of revenue.

While we are well aware of the major risks that this does end up surrounding, people are still willing to conduct investments in the world of crypto. Its shocking to see how so many consumers are very aware of the mega dangers attached but they continue to market crypto products on different apps. Did we mention how influencers are taking huge sums of money to promote such products but fail to disclose them in the open?

The tagline involves how to get rich in a quick manner through ads and investments as well as social media influencers who again play a leading role in terms of convincing audience members.

This is why so many regulators functioning at the EU level are trying to put out strict policies across apps regarding such marketing strategies while taking necessary steps to stop those misleading others for their own benefit.

The group is also forcing authorities in Europe to work alongside various financial watchdogs and stop the crypto promotion.

Now, regulators may work on complaints against these apps or they could promote regulatory action to ban firms or place sanctions on them to force them to alter their practices. Its not quite clear if theyll opt to do this or when such a decision would be implemented.

The world of crypto is certainly not something new but the interest surrounding it has really expanded in the past few years. And that is why officials are now scrambling in terms of regulating what is taking place behind the scenes before its too late.

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Big Tech Giants TikTok, YouTube, And Twitter Savaged For ... - Digital Information World

Google is using artificial intelligence in its online shopping tool to show how clothing from online retailers will fit different body types, the company said Wednesday. It's another move in Google's push to incorporate generative AI -- or AI that can create content based on training data when prompted -- across its range of products and online services.

The new Google shopping feature, which launches today with brands like Anthropologie, Everlane, H&M and Loft, uses AI to generate an image of the article of clothing on a real model, with the goal being to show how clothing sizes look on actual people. It's the latest effort by major Internet companies and retailers, including Amazon and Walmart, to upgrade the home shopping and virtual try-on experience.

While Google is using AI to generate imagery of the desired article of clothing, it uses real people to show how that clothing fits. Shyam Sunder, a group product manager at Google responsible for the virtual try-on feature, said at a press briefing that the company hired 80 models (40 women and 40 men) to create this shopping option.

Sunder said Google only needs one image of an article of clothing from a retailer's website to create an AI-crafted representation of that item on a model. Google's technology can show how the material would "drape, fold, cling, stretch and form wrinkles and shadows," Lilian Rincon, Google's senior director of consumer shopping product, wrote in a company blog post. Google will support women's tops at launch with this feature, but says it plans to expand to other categories as well.

In a demonstration, multiple models with different body types were also shown for each size option. The company said it selected models with different skin tones and whose clothing sizes range from double extra small to quadruple extra large. In addition to browsing through sizes, you'll also be able to find similar products in different prices, colors and patterns.

An example of Google's new shopping feature showing how a green top from Everlane looks on different women.

Tech and retail giants in the past have attempted to make the process of trying on clothes easier. Last year, Walmart announced a feature that's very similar to Google's. Called Choose My Model, it lets users pick from among 50 models of different heights, sizes, body shapes and skin tones to see how clothing would look. Amazon also announced a virtual try-on feature for shoes last year.

But Google's announcement reflects the broader shift among tech giants to embrace generative AI and infuse it into their most important products. Google's I/O developers conference, which is where the company typically provides updates on new products and technologies, was all about AI. (In fact, the company mentioned the word AI more than 140 times during its keynote address.)

Microsoft has also made the technology a major focus in products like Bing and Windows. Amazon is also reportedly working on a new ChatGPT-style search for its sprawling store, according to Bloomberg.

Editors' note: CNET is using an AI engine to help create some stories. For more, seethis post.

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Google Is Using AI to Show How Clothes Look on Real People ... - CNET

De Graaf said Europes head start on AI rules will make it tough for the U.K. to craft an alternate approach in time for it to matter. But White said the EUs strict safeguards could shut out certain types of AI or chill their use on the continent. If that happens, it would give London an opportunity to make its mark.

The companies were talking about are U.K. and U.S. companies, White said. Thats really where I think a lot of this will play out, in terms of what theyre doing and the governments that they listen to.

The U.S. tech industry is intrigued by Whites sales pitch, and its lobbyists are staffing up as they prepare for a potential new power center in London.

It is not surprising that someone might look at how certain legislative efforts have fared on the continent and conclude that a different approach might have more value, said Matthew Schruers, president of the Computer and Communications Industry Association. Schruers lobbying firm is in the process of opening a new London office, and its not the only Silicon Valley operation making moves to the U.K. on Sunday, venture capital firm Andreessen Horowitz announced plans to open its first international office in London.

But even if it can nudge the U.S. toward its preferred tech rules, there are domestic issues that could undercut the U.K.s message to Silicon Valley. The countrys next general election, expected sometime in 2024, could push the regulation-averse Conservatives out of power. And many U.K. voters and advocacy groups disagree with Londons light-touch approach to tech.

That tension has forced the U.K. government into a tricky balancing act between attracting industry while also addressing voter anxiety. And Silicon Valley is so far skeptical that Londons tech plans are much friendlier than the rules now coming from Brussels.

To say were a better bet than the EU, which has basically completely stifled its tech sector, is faint praise at best, said one industry source, who requested anonymity to discuss the sensitive interplay between global tech regulators.

If White can get Silicon Valley to work closely with London on new rules (and if London can convince Washington or enough U.S. states to take those rules and run with them), it could mean an end to the EUs regulatory dominance over an industry that increasingly transcends borders.

But even a successful effort would see the U.K. subordinated at some level to the U.S. and its far from clear that White and his government can actually deliver.

A decade ago, none of this would have even made sense. The U.K. was firmly ensconced in the EU, and the tech industry was a lightly regulated, high-growth sector that everyone loved. The main way for foreign jurisdictions to attract U.S. tech firms was to offer lower taxes, which led to a massive rush of headquarters to business-friendly Ireland.

But starting with the EUs adoption of its landmark General Data Protection Regulation in 2016, the bloc has passed a series of laws that crack down on the tech companies use of personal data, rein in their monopoly power, expand the protections they provide users and govern their plans for AI.

The flurry of activity opened a gulf with Washington, where big tech while often a political punching bag saw little in the way of actual regulation by Congress.

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Joe White is leading the British charm offensive in Silicon Valley - POLITICO

ZURICH, June 14, 2023 /PRNewswire/ -- Switzerland is home to a globally unique life science cluster. In addition to multinational companies like Novartis and Roche, this encompasses a dense network of startups and SMEs. Its renowned universities, strong intellectual property protection and strategic location in the middle of Europe have made Switzerland a preferred site for global and regional pharma headquarters. There is a strong ecosystem in place that feeds a dynamic talent pool and provides companies with an important advantage: All parts of the value chain from R&D to manufacturing, through to commercialization can be accessed in one location.

SWITZERLAND A THRIVING HUB FOR PERSONALIZED HEALTH

At the same time, the pragmatic and business-friendly legislation has attracted fastgrowing tech companies that develop high-quality "Swiss made" products. For companies who wish to quickly and easily bring new innovations in personalized health to market, Switzerland offers the ideal environment.

THE ADVANTAGES OF SWITZERLAND

1. High Innovation Output

A steady stream of highly qualified talent and scientists in Switzerland make a significant contribution towards developing new medicines. The framework conditions are also in place: The Swiss healthcare system supports the introduction of new medicines and, in doing so, offers companies access to a sophisticated test and sales market.

Why Switzerland:

2. Life Sciences Value Chain in One Place

With its long tradition in life sciences and a strong infrastructure in advanced manufacturing, Switzerland offers a dense and experienced network of peers, universities and suppliers over a geographically manageable terrain. It is precisely because Switzerland is a small country that industry benefits from this experienced cluster along the entire value chain to develop, produce and market new products and services all in one place.

Why Switzerland:

3. Strategic Location in the Heart of Europe

With its strong life sciences clusters and a business-friendly environment, Switzerland has become a favored headquarter location for pharmaceutical companies expanding into Europe for the first time. Its thriving ecosystem provides partnering and licensing opportunities, and the country's geographical position helps access the European market efficiently.

Why Switzerland:

4. First-Class Technology

Swiss authorities are pragmatic and business-friendly, which has led to pioneering regulations in the field of emerging technologies such as blockchain, robotics, or AI. This has attracted global talent and fast-growing tech companies that develop high-quality products.

Why Switzerland:

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Business Location Switzerland

Business Location Switzerland is a collaboration among key stakeholders across Switzerland to recruit businesses from North America with a focus on the personalized health space. In the U.S., we have locations in Washington, DC, New York, NY, Austin, TX, San Francisco, CA and Los Angeles, CA.

SOURCE Business Location Switzerland

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BUSINESS LOCATION SWITZERLAND - A THRIVING HUB FOR ... - PR Newswire

S&P 500 equal-weight ETFs have returned to asset gathering territory as investors either profit-take on market cap-weighted gains or become increasingly wary of the indexs over-concentration in a handful of tech giants.

According to data from ETFLogic, the $2.9bn Xtrackers S&P 500 Equal Weight UCITS ETF (XDEW) has seen $127m inflows over the past week, as at 9 June.

This trend was even more pronounced in the US, with the $35bn Invesco S&P 500 Equal Weight ETF (RSP) adding a considerable $1.7bn in its strongest week of inflows since its inception.

It follows a flight to more risk-on allocations so far in 2023 amid headline-grabbing developments in artificial intelligence (AI) technology and expectations the Federal Reserve could start to cut interest rates by the end of the year.

While the latter may be supportive for debt-laden information technology and communications names, it could also signal the Fed deciding to halt its hawkish monetary policy programme as the US economy shows signs of weakness.

With equal-weight ETFs having relatively outsized positions in old economy sectors such as energy, materials and industrials, the possibility of recession and a return to optimism in tech has seen XDEW book $647m outflows this year, until last week.

However, onlookers are becoming increasingly sceptical of the surge enjoyed by the magnificent seven so far this year, with a combination of organic flows and index rebalances pushing unprecedented sums into tech names.

Source: Bank of America

Essentially all of the S&Ps year-to-date return comes from its top seven constituents Apple, Microsoft, Alphabet, Amazon, Meta, Nvidia and Tesla, Ben Bakkum, lead investing researcher at JP Morgan, said.

Those companies have together added over $3.6trn in market cap in 2023 while the other 493 companies in the index have together added almost $0.

Source: JP Morgan

At the time of writing, Apples $2.7trn market cap is equivalent to market cap of the bottom 200 companies in the S&P 500 and more than $100bn larger than the combined size of all Russell 2000 index constituents.

Despite becoming more cautious about headiness in tech valuations, investors have also lost enthusiasm for 2022 safe havens.

The $271m iShares S&P 500 Utilities Sector UCITS ETF (IUUS) shed more than half its assets following $336m outflows in the week to 9 June while the $1.1bn iShares S&P 500 UCITS ETF (IUES) also saw a $289m exodus.

UCITS ETF investors also still favour vanilla US equity, with $334m flowing into the $37.7bn Vanguard S&P 500 UCITS ETF (VUSA).

Meanwhile, weekly net short positions on the S&P 500 hit their highest level since 2007 at the start of June, according to the Commodity Futures Trading Commission (CFTC).

Source: CFTC, Bespoke Investment Group

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S&P 500 equal-weight ETFs in vogue as investors avoid big tech - ETF Stream

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Tech giant Google has agreed to pay Stuff, as well as several other publications, to provide content for its News Showcase platform. (File photo)

Google will soon start paying to share Stuff content after the news company reached an agreement to join Google News Showcase.

The tech giant has agreed to pay Stuff - publisher of this website - as well as several other New Zealand publications, to provide content for its Showcase platform, launched internationally in 2020.

The deal is the culmination of pressure from the industry as well as extensive lobbying of the Government to introduce a legislative backstop as well as stiffen its rhetoric to compel companies such as Google to come to the table and pay for content.

The deals come after the Government last year modestly increased pressure on Google and Meta to strike more deals to support the news media.

NZ Parliament

Broadcasting Minister Willie Jackson says law change will address "bargaining imbalance" (video first published in December).

Legislation is expected to be introduced in Parliament next month, with media companies keen for it to still progress, in spite of the deal and even with an election looming. Google is the only company which has made a deal so far.

Unlike Google search results, which show small sections of news stories and leave it to news sites to monetise that content, Google Showcase pays publishers directly for the right to feature their stories.

Google New Zealand country director Caroline Rainsford said the agreements showed Googles ongoing commitment to New Zealands news industry.

Were so pleased to be continuing to bring a broad spectrum of Aotearoas publications to more audiences through Google News Showcase, she said.

Many of these titles have served their communities for decades, providing vital news and information to their regions. Were pleased to reach these agreements to help support public interest journalism in New Zealand.

Stuff chief executive Sinead Boucher said the agreement acknowledged the value Stuffs trustworthy journalism provided to Kiwis all over the motu.

We're pleased to reach terms with Google to ensure our content reaches News Showcase readers, she said.

Google also reached News Showcase agreements with Allied Press, The Spinoff, Ashburton Guardian, Mahurangi Matters and Hibiscus Matters, Gisborne Herald, The Wairarapa Times-Age and the Wanaka App.

It is understood that the collective deal which has been negotiated over the past 12 months has yielded a better result for the companies that reached agreements than was previously expected or that looked likely at the beginning of the process.

Former Nine and Fairfax publishing executive Chris Janz was hired by the Newspaper Publishers Association to do the negotiating with Google, after successfully minting deals with both Google and Meta the parent company of Facebook in 2021.

However, those deals came off the back of vociferous support from the Australian Government and in particular the then Treasurer Josh Frydenberg. Facebook even threatened at one point to block Australians from sharing content.

Once negotiations began, they were concluded in a matter of weeks.

Labour has shown no such enthusiasm for assisting the sector in negotiations with some of the tech giants, and it is widely considered that Google has made a deal to head off the prospect of any legislative interference.

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Google to start paying for NZ news content shared via News ... - Stuff