US Business

Philippe Starck, the prolific French architect and designer who has made everything from lemon juicers to wind turbines, shows no sign of slowing down and is increasingly turning his eye to space.

Visiting an exhibition at the Museum of Decorative Arts in Paris featuring some his early work, the 73-year-old seemed bemused by the volume of items on display.

“I don’t have the software for periods and dates,” he told AFP when asked about the period. 

“To me, the 1980s were like being abandoned in an Amazon jungle with nothing to eat, wild animals everywhere, a rusty machete… I just did what I could. And when you do what you can, you don’t remember what’s going on elsewhere.”

Starck made his name as an interior decorator for Paris nightclubs in the 1970s, before landing a dream commission to refurbish the Elysee Palace apartments for president Francois Mitterrand in 1983. 

He went on to design luxurious hotels and restaurants around the world. 

But he also gave the world an uber-electic range of everyday items, from his futuristic lemon juicer to electric bikes, toothbrushes, water bottles — and on to boats, wind turbines and control towers.

– ‘Pure creativity’ –

There was always a hint of humour and surrealism, he said, but also a desire to “democratise design” by keeping things affordable. 

“We managed to remove two zeros from prices,” he said. “At the time, in today’s prices, sitting on something designer cost 20,000 euros, which wasn’t right. Today, it’s 700 euros, which isn’t bad.”

These days, Starck cares less about household objects and has his eyes on bigger things. 

There is a long-awaited “laboratory for pure creativity” being built in Qatar, and immediately after the exhibition, he was due at the launch of a new hydrogen energy project.

But his real focus appears to be skyward: working with US company Axiom Space on the living quarters it plans to connect to the International Space Station, and teaming up with NASA for a new astronaut training camp. 

The focus on space is part of our “necessary change” as a species, he said.

“Except when we’re dead, we’ve been fixed by gravity, but that’s clearly over, so I’m tackling it head-on.”

Some early memories remain — being left with some old toys and his grandfather’s workbench during the holidays as a young child: “I made my first items on that workbench and I haven’t stopped since.”

A surreal early inspiration comes to him: seeing Mick Jagger dancing around with a neon tube in some film. 

“I found it extraordinary and chic — I thought to myself that someone should make it for real so that everyone could be Jagger for a minute.”

Nintendo raised its full-year net profit forecast on Tuesday, with the weak yen and a solid performance by new games helping compensate for falling sales of its Switch console.

The Kyoto-based Japanese gaming giant estimated net profit for the year to March 2023 at 400 billion yen ($2.7 billion), up from a previous projection of 340 billion yen.

Net profit for the half-year from April to September was also up 34.1 percent to 230 billion yen, the firm said.

“For software, sales for titles such as Splatoon 3 and Nintendo Switch Sports that were released during this fiscal year have continued to grow steadily,” it said.

“Titles released in previous fiscal years as well as titles from other software publishers have also performed well.”

Nintendo also saw a significant boost to its bottom line from foreign exchange gains driven by the depreciation of the yen, which has tumbled against the dollar this year to lows not seen since the 1990s.

In early October, it dropped beyond 151 to the greenback for the first time in 32 years, as Japan’s central bank sticks to its ultra-loose monetary policy while the Federal Reserve hikes rates to tackle inflation.

In 2020-21, Nintendo’s profits soared to an annual record of 480 billion yen due to soaring demand for indoor entertainment during pandemic lockdowns. 

The firm nearly matched that figure in the last financial year, with its blockbuster Switch console continuing to perform well and software sales staying strong.

But sales of the Switch have been slowing, and Nintendo said it now expects to sell 19 million units this fiscal year, two million units less than previously expected.

– Joint venture with DeNA –

Nintendo sold 6.68 million units of the various types of Switch consoles it offers in the first half of the fiscal year, down over 19 percent from a year earlier.

The slowing sales were due to a range of factors, including an ongoing global chip shortage, the firm said.

The revised forecast for Switch sales had been expected by some analysts, with Hideki Yasuda, senior analyst at Toyo Securities, telling AFP before the earnings estimate that Nintendo would “have a tough time” reaching its previous goal of 21 million unit sales.

But he said profits were expected to jump on the yen and the strong performance particularly by Splatoon 3, which had the fastest sales in the first three days of its release in Japan of any Switch title.

“A new Pokemon title will be launched in November and the company is seeing strong pre-orders in Japan,” Yasuda added.

The firm left its full-year operating profit forecast unchanged at 500 billion yen. Its sales forecast was revised up to 1.65 trillion yen from 1.60 trillion yen.

Nintendo on Tuesday also announced a joint venture with Tokyo-based mobile gaming company DeNA intended to “strengthen the digitalisation of Nintendo’s business”.

In a statement, Nintendo said the joint venture would research, develop and create “value-added services”, without giving further details.

The two firms announced an initial partnership in 2015 to develop games for smartphones.

Nintendo also bought a stake in DeNA as part of a deal to develop smartphone games based on its host of popular characters, possibly including Super Mario and Donkey Kong.

Nintendo said Tuesday’s joint venture announcement would have no effect on the company’s results for the current fiscal year.

The Switch manufacturer will hold 80 percent of the joint venture, to be called Nintendo Systems.

A major Australian health insurer warned Tuesday of a “distressing” threat by a purported hacker to release client data within 24 hours, following a hack affecting 10 million people.

Medibank Private, one of Australia’s largest insurers, told customers to be “vigilant” after the reported threat, issued a day after it had ruled out paying any ransom demand.

The company revealed Monday that a hack originally thought to have breached the data of 3.9 million people had in fact given access to the names, birth dates, addresses, phone numbers and emails of about 9.7 million former and existing clients.

Those numbers included 1.8 million international customers.

On Tuesday, an anonymous poster on a hacking blog — widely cited by Australian media — said that data from the Medibank hack “will be publish in 24 hours”. 

It was not possible to confirm whether the poster was connected to the hack or had access to people’s stolen information.

“We knew the publication of data online by the criminal could be a possibility, but the criminal’s threat is still a distressing development for our customers,” Medibank chief executive David Koczkar said, calling for clients to be “vigilant”.

“We unreservedly apologise to our customers,” he added.

The hacker could also attempt to contact customers directly, the company warned.

– ‘Betrayal’ –

Medibank had said in Monday’s announcement that it believed “all of the customer data accessed could have been taken by the criminal”.

The data breach included some people’s health claims along with codes exposing their diagnoses and medical procedures, as well as the passport numbers and the visa details of international students. 

Medibank said it was working with the Australian government and with the police, who were trying to prevent the sharing and sale of the stolen data.

Cybercrime experts had advised that paying a ransom had only a “limited chance” of ensuring the return of the stolen data, the company said, explaining its decision to reject any ransom demand.

Two law firms said Tuesday they had joined forces to investigate a possible class action lawsuit against Medibank.

“We believe the data breach is a betrayal of Medibank Private’s customers and a breach of the Privacy Act,” said a joint statement by Bannister Law and Centennial Lawyers.

“Medibank has a duty to keep this kind of information confidential.”

The Medibank hack followed an attack on telecom company Optus in September that exposed the personal information of some nine million Australians.

As data theft becomes more common, it may raise questions over the need for Australian businesses to gather customers’ sensitive personal information, said Michael Duffy, associate professor of corporate law at Monash University.

Some of those data retention policies were dictated by government regulation, he added.

“Nevertheless, businesses requesting and keeping personal details that aren’t completely essential could become more legally problematic for them, if they are hacked.”

Climate deniers looking to block action and “greenwashing” companies could have free rein on Twitter after Elon Musk’s takeover, analysts warned as leaders pursued anti-warming efforts at the COP27 summit.

The Tesla billionaire and self-declared free-speech absolutist has fired thousands of staff -– with sustainability executives Sean Boyle and Casey Junod among those signing off from the platform last week.

Musk has promised to reduce Twitter’s content restrictions and after the takeover announced plans to create a “content moderation council” to review policies.

“It’s not clear what Mr Musk really plans to do. However… if he removes all attempts at content moderation, we can expect a surge of disinformation, as well as increases in misleading and greenwashing advertisements,” said Naomi Oreskes, a professor of the history of science at Harvard University who has authored leading studies on climate misinformation.

“Greenwashing” means companies misleading the public about their impact on the planet through messages and token gestures.

“We may also see an increase in hateful comments directed towards climate scientists and advocates, particularly women,” Oreskes said.

Following the buyout, one climate journalist tweeted that he had received death threats on the platform. He did not immediately respond to a request for comment.

– Sustainability execs axed –

Researchers and campaigners say that despite measures announced by social platforms, climate misinformation is thriving, undermining belief in climate change and the action needed to tackle it.

Twitter and other tech giants such as Facebook and Google have said they are acting to make false claims less visible.

But the Institute for Strategic Dialogue think tank said in a detailed study this year that messages aiming to “deny, deceive and delay” regarding climate action were prevalent across social media.

Under Twitter’s policy before the takeover, it said “misleading advertisements on Twitter that contradict the scientific consensus on climate change are prohibited”.

“We believe that climate denialism shouldn’t be monetised on Twitter, and that misrepresentative ads shouldn’t detract from important conversations about the climate crisis,” Boyle and Junod wrote in an Earth Day post on Twitter’s blog.

Both posted messages on November 4 with the hashtag “LoveWhereYouWorked”, indicating they were among those laid off after Musk’s $44-million takeover. They did not immediately respond to requests for comment.

– Scientists at risk –

Beyond false information, some specialists warned that climate scientists themselves face threats if moderation falters.

A surge in hate speech drove Twitter’s head of safety and integrity Yoel Roth to respond, trying to calm concerns. He tweeted that the platform’s “core moderation capabilities remain in place”.

Musk wrote on November 4 that “Twitter’s strong commitment to content moderation remains absolutely unchanged.”

“I worry that scientific falsehoods will find a bigger platform on Twitter under Musk’s leadership,” said Genevieve Guenther, founder of the media activism group End Climate Silence.

“But I worry even more that the website will start deplatforming climate scientists and advocates who criticise right-wing views, preventing them from connecting to each other and to decision-makers in media and government.”

– Blue ticks at COP? –

Among Musk’s plans is an $8 monthly charge for users to have a blue tick by their name — currently a mark of authenticity for officials, celebrities, journalists and others.

“To me, this is opening the door to highly coordinated disinformation and manipulation,” said Melissa Aronczyk, an associate professor in communication and information at Rutgers University.

Musk said the move aims to reduce hate speech by making it too expensive for trolls to have multiple accounts.

Aronczyk argued the system would give a mark of authenticity to those willing to pay for a blue tick to push an agenda.

She pointed to the controversy around Hill+Knowlton Strategies — a PR company working for big fossil fuel companies -– reportedly hired by host Egypt to handle public relations for the COP27 summit.

“Picture every Hill+Knowlton staffer working for COP27 creating a network of blue-check accounts to promote the business-led initiatives at the summit. Or downplaying the conflicts. Or ignoring protests,” Aronczyk said.

“It’s basically letting corporate greenwashing become the default communication style around climate change.”

French automaker Renault will pitch investors Tuesday on its planned green revamp, with two spin-offs: a new electric-vehicle unit and a subsidiary for thermal and hybrid assets. 

The electric vehicle market is expected to grow rapidly in response to consumers’ worries about climate change, putting pressure on manufacturers to develop less polluting products.

The European Union last month agreed to phase out new CO2-emitting vehicles by 2035, a move set to turbo-charge the production of electric prototypes on the continent.

At an investor day in Paris on Tuesday, Renault is expected to outline its green transformation. 

The flagship division of the carmaker’s reorganisation is Ampere, a split-off expected to employ around 10,000 staff in France and produce electric vehicles in the north.

Renault plans to invite investment in Ampere but would remain the majority shareholder.

Renault also intends to combine its technological, manufacturing, and research and development activities for its hybrid and internal-combustion vehicles in a subsidiary called “Horse”.

The subsidiary is expected to employ an estimated 19,000 people across Europe, China and South America.

Chinese car manufacturer Geely is being considered for a stake in the company.

“We are designing an agile and innovative organisation to manage the volatility and accelerated technological evolution of our time,” said Renault CEO Luca de Meo.

Investors on Monday expressed their interest in Renault’s transformation, with the group’s shares climbing 3.77 percent on the Paris stock market.

The company suffered a historic loss in 2020 and its recovery was destabilised by its withdrawal from Russia following Moscow’s invasion of Ukraine.

The value of traditional car manufacturers pales in comparison to new players on the market specialising in electric vehicles such as Elon Musk’s Tesla or Chinese firm BYD.

Renault still needs large investment to accelerate its electric transformation, according to plans it presented in 2020.

US giant Ford has taken similar steps, announcing the creation of the “Ford Model E” earlier this year.

Renault’s sales of traditional internal-combustion vehicles are falling. In the first nine months of 2022, hybrid and electric vehicles represented 38 percent of the brand’s registrations in Europe, a year-on-year increase of 12 percent.

The planned separation of Renault’s electric and conventional production has concerned trade unions after several waves of job cuts.

A major Australian health insurer warned Tuesday of a “distressing” threat by a purported hacker to release data within 24 hours from a hack affecting 10 million people.

Medibank Private, one of Australia’s largest insurers, told customers to be “vigilant” after the reported threat, issued a day after it had ruled out paying any ransom demand.

The warning came a day after a hack originally thought to have breached the data of 3.9 million customers had in fact given access to the names, birth dates, addresses, phone numbers and emails of about 9.7 million former and existing clients.

On Tuesday, an anonymous poster on a hacking blog — widely cited by Australian media — said “data will be publish in 24 hours”. 

It was not possible to confirm whether the poster was connected to the hack or had access to people’s stolen information.

“We knew the publication of data online by the criminal could be a possibility, but the criminal’s threat is still a distressing development for our customers,” Medibank chief executive David Koczkar said, calling for customers to be “vigilant”.

“We unreservedly apologise to our customers,” he added, describing the “weaponisation” of their data as malicious.

The hacker could also attempt to contact customers directly, the company warned.

The data breach of Medibank — one of Australia’s largest insurers — included 1.8 million international customers.

– ‘Betrayal’ –

The company had said in Monday’s announcement that they believe “all of the customer data accessed could have been taken by the criminal”, which contained people’s health claims along with codes exposing their diagnoses and medical procedures. 

Passport numbers and the visa details of international students were also part of the data hack. 

Medibank said it was working with the Australian government and with the police, who were trying to prevent the sharing and sale of the stolen data.

Cybercrime experts had advised that paying a ransom had only a “limited chance” of ensuring the return of the stolen data, Koczkar said, adding that it could encourage the direct extortion of its clients.

“It is for these reasons that we have decided we will not pay a ransom for this event,” he said. 

Two law firms said Tuesday they had joined forces to investigate a possible class action lawsuit against Medibank.

“We believe the data breach is a betrayal of Medibank Private’s customers and a breach of the Privacy Act,” said a joint statement by Bannister Law and Centennial Lawyers. “Medibank has a duty to keep this kind of information confidential.”

The Medibank hack followed an attack on telecom company Optus in September that exposed the personal information of some nine million Australians — almost a third of the population.