The Morning Download: U.S. May Allow Foreign Governments to Serve Warrants on U.S. Firms

Good morning. The Obama administration is working on agreements with foreign governments that would allow them to serve U.S. technology companies with warrants for email searches and wiretaps, the WSJ's Devlin Barrett and Jay Greene report. "Word of the plans came one day after a federal appeals court ruled that federal warrants couldn't be used to search data held overseas by Microsoft Corp., dealing the agency a major legal defeat," they report. The loss could be appealed to the Supreme Court.

A Justice Department official discussed the efforts during a public forum on Friday and said the first such agreement is being assembled with the U.K. The official said such agreements would have to meet U.S. civil liberties standards, and would involve reciprocal authority for the U.S.

Greg Nojeim, a privacy advocate at the Center for Democracy and Technology, told the WSJ the plan would be "swapping out the U.S. law for foreign law'' and argued that U.K. search warrants have less stringent judicial protections.

What Biogen wants in a new CIO. "Every leader, including the leader of technology, should understand the economics and cash flow and balance sheets of the company," Andi Karaboutis, Biogen Inc.'s executive vice president of technology, business solutions and corporate affairs, tells CIO Journal. The biopharmaceutical company is looking to fill a CIO position vacant since May.

Vehicle automation: A very important priority for AI research. Most of the technologies being developed will significantly improve the overall safety of our cars and help reduce our large numbers of traffic accidents, deaths and serious injuries, CIO Journal Columnist Irving Wladawsky-Berger writes. And perhaps at some point in the future we will see self-driven vehicles coursing along our streets and highways.

TECHNOLOGY NEWS

SoftBank to Buy ARM Holdings for More Than $32 Billion. U.K.-based chip designer ARM Holdings PLC confirmed Monday that it agreed to a buyout offer worth more than $32 billion from Japan-based SoftBank Group Corp., the Journal's Rick Carew and Ian Walker report. The ARM deal comes less than a month after the U.K.'s decision to leave the European Union pushed down the value of the pound, potentially making British companies much more attractive bargains for buyers from overseas. ARM, whose microchip designs dominate the global processor market for smartphones including Apple Inc.'s iPhone, boasts a strong portfolio of intellectual property for chips connecting mobile devices.

Artificial intelligence warms Silicon Valley on wings and wheels. Robots, drones and self-driving cars are fueling the next big shift in Silicon Valley, the NY Times reports. Funding in AI startups has to $681 million in 2015, from $145 million in 2011, the NY Times reports, citing results from CB Insights. And investments this year could reach $1.2 billion.

Microsoft says Windows 10 user goal won't be met. Microsoft Corp. said it won't hit its target of one billion Windows 10 devices in use by June 2018 and it's blaming its declining smartphones business, the WSJ's Jay Greene reports. A new target data has not been proposed. In June, Microsoft said that more than 350 million devices ran the operating system. Adoption has climbed about 17% since early May.

Saudi push for tech deals stirs Silicon Valley debate. Technology investors like to tout the social benefits of the companies they support. But the industry often overlooks investors' own principles and beliefs, focusing more on their investment record and size of their checks, the WSJ's Douglas MacMillan and Margherita Stanchati report. Case in point: Saudi Arabia's recent $3.5 billion investment in Uber Technologies Inc. To some venture capitalists and founders, Uber's agreement represented its tacit endorsement of a governmen where women aren't allowed to drive, and one of several countries where homosexuality is illegal.

FCC airwave bidders don't all show up. The Federal Communications Commission on Friday released a list of bidders who made deposits for its auction of wireless airwaves. The FCC is buying airwaves from television broadcasters and reselling them to wireless carriers and others. Of about 100 entities that filed initial applications, only 62 firms actually put down money, the WSJ's Ryan Knutson reports. Those participants include AT&T Inc., Verizon Communications Inc., T-Mobile US Inc., Comcast Corp. and Dish Network Corp. Choosing not to participate: Sinclair Broadcast Group Inc. and a group of individual bidders with personal connections.

Cloud costly, necessary for Microsoft. For Microsoft, shifting its business to the cloud has been the right decision—albeit an expensive one. While now just one-third of the company's revenues, Microsoft's cloud business is the company's primary driver of growth—and its stock price the WSJ's Dan Gallagher writes in an earnings preview. The latter point was painfully clear in the company's most recent quarterly report in April, when a small miss for the cloud business translated into a big selloff in the stock.

California makes drone arrest. California officials on Friday made their first arrest of a hobbyist drone operator under a crackdown to prevent such unmanned aircraft from impeding efforts to fight wildfires, the WSJ's Jennifer Calfas reports. The drone operator was charged with one misdemeanor for interfering with wildfire operations. Drone operators who fly over wildfires could face up to $27,500 in civil penalties, according to the Federal Aviation Administration.

Opera Software to sell internet-browser operations to Chinese consortium. Opera Software ASA said it would sell its internet-browser business to a Chinese consortium, after a $1.2 billion bid for the entire company was terminated Monday after failing to obtain regulatory approvals, the WSJ's Dominic Chopping and Matthias Verbergt report. Opera said the original deal failed to obtain the required regulatory approvals by a July 15 deadline.

Filipinos fume as snail-pace internet leaves business on ice. The country is ranked 21st out of 22 Asian countries in terms of internet speed, Reuters reports. President Rodrigo Duterte has threatened to open the country up for competition if the two companies currently controlling internet access don't improve services.

A tech tale of two presidential campaigns. The CTO for Hillary Clinton's campaign has assembled a team of engineers and developers from places like Google Inc., Facebook Inc. and Twitter Inc., Wired reports. Donald Trump's campaign hired an in-house digital director last month, "And that, people familiar with the campaign say, is about the extent of his tech team." In a related note, Mrs. Clinton's campaigners are tapping into the popularity of mobile game Pokemon Go, assigning volunteers to seek out players. The campaign has even gone so far to put up a lure module, which will bring more Pokémon to a location, the WSJ's Natalie Andrews reports. The modules can be purchased in the app, or earned.

EVERYTHING ELSE YOU NEED TO KNOW

Global stocks held steady as investors shrugged off the weekend's events in Turkey, signaling the country's failed coup attempt wouldn't have a wider impact on financial markets. (WSJ)

Low interest rates around the world are fueling a familiar threat of housing bubbles, and central bankers in a number of key economies feel powerless to stop them. (WSJ)

More than 90 of the biggest U.S. companies will report results this week, giving a clearer picture of what is expected to be the fourth straight quarter of declining profits. (WSJ)

The failed coup in Turkey highlights the pitfalls facing global investors fleeing low returns in the West for hard-to-assess, idiosyncratic risks in emerging markets. (WSJ)

Tom Loftus contributed to this article. The Morning Download comes from the editors of CIO Journal and cues up the most important news in business technology every weekday morning. Send us your tips, compliments and complaints. You can get The Morning Download emailed to you each weekday morning by clicking http://on.wsj.com/TheMorningDownloadSignup.


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