Changing the Game: Visa Sets Sights on a “Cashless Japan” With One Year to Go to the Olympic Games Tokyo 2020

Visa and its partners build a digital legacy for Japan and help to accelerate economic growth

SAN FRANCISCO & TOKYO-Thursday 25 July 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- With one year to go until the Olympic Games Tokyo 2020, Visa (NYSE: V), the Worldwide Payment Technology Partner of the Olympic Games, is preparing innovative payment experiences for athletes, visitors and citizens in support of the government’s “Cashless Japan” imperative to double the total of payments made digitally to 40 percent1 by 2025. With the Olympic Games Tokyo 2020 expected to be the most innovative Olympic and Paralympic Games yet, Visa is in a unique position to help the Games become a catalyst for delivering the best in digital payments to Japan.

 “There is virtually no other market in the world today that compares to Japan – it is the world’s third largest economy and a leader across many industries, yet commerce remains predominantly cash-based,” said Stephen Karpin, Representative Director & Country Manager of Japan, Visa. “Visa embraces the Olympic Games as an opportunity to offer cutting-edge payment technologies at venues and the Olympic Village, and throughout the host country to truly enhance the fan experience. For Tokyo 2020, we are planning experiences that will leave a lasting impact on the country, with the goal of helping accelerate economic growth, while providing the Japanese community and visitors with a ‘wow’ experience on-the-ground.”

Supporting the Road to a “Cashless Japan”

Today, only about one-fifth of all payments in Japan use digital methods compared with around 90% in South Korea and roughly 60% in the U.S and 70% in China.2 With 40 million3 visitors expected to arrive in Japan next year, Visa has a range of initiatives underway to ensure the best possible commerce and payments experiences, including:

Growing Digital Payment Acceptance: To address the current prevalence of cash, Visa is working closely with merchants in a wide range of business categories, including Quick Service Restaurants (QSR), transit and convenience stores, to upgrade and enable contactless point-of-sale (POS) and to drive adoption for digital payments prior to the start of Tokyo 2020.
Team Visa for Cashless Japan: Since 2000, Visa has supported Team Visa, a diverse roster of global athletes who compete in a wide range of events, representing the brand on-and-off the field of competition. Team Visa athlete and Japanese Olympic hopeful in the newly added sport of surfing Kanoa Igarashi is “riding the cashless wave” in Visa’s marketing campaign, already live in Japan. Throughout the year, Visa will continue expanding the Team Visa roster and our marketing efforts that highlight these Olympic and Paralympic hopefuls, to elevate their stories and promote the use of digital payments.
Building a Partner Ecosystem: As the world’s leader in digital payments, Visa drives innovation to its 3.4 billion accountholders through a wide group of financial services, merchant, technology and fintech partners. To further grow its network in Japan, Visa has launched Visa Fintech Fast-Track to make it quicker and easier for fintechs to build and deliver new digital commerce experiences on Visa’s payments network. Visa has also recently partnered with LINE Pay Corporation, operator of digital wallet and fintech services on the LINE messaging app to encourage digital payment adoption.
Games-time Innovations: As the exclusive payment technology sponsor, Visa is in a unique position to bring cutting-edge payment technologies to every Olympic Games, often trialing technology not yet commercially available. At the Rio 2016 Olympic Games, Visa offered a payment-enabled ring to its Team Visa athletes. At the PyeongChang 2018 Olympic Winter Games, Visa commercially sold wearable products, such as gloves and lapel pins, enabled to make payments over contactless payment readers. For Tokyo 2020, Visa is exploring payment innovations ranging from biometric payment authentication and wearables to new mobile applications which will include digitally-issued cards.
Measuring Inbound Global Travel & Spend to Japan: According to Visa’s Global Travel Intentions (GTI) Study, Japan has overtaken the United States as the most popular destination within the past two years among the international travelers surveyed. In the lead up to the Olympic Games, Visa will continue to share consumer travel and spend data and predictions on Olympic-related tourism trends, to help prepare local merchants for an influx of foreign travelers.
About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visacorporate.tumblr.com and @VisaNews.

1 JPN: https://www.kantei.go.jp/jp/singi/keizaisaisei/pdf/fu2019.pdf; ENG: https://www.meti.go.jp/english/press/2018/0411_002.html

2 Euromonitor Financial Cards and Payments Report in Japan, https://www.euromonitor.com/financial-cards-and-payments-in-japan/report

3 Japan National Tourism Association, annual data as of Dec 31, 2017

View source version on businesswire.com: https://www.businesswire.com/news/home/20190724005440/en/

Contacts
Masako Hamada
Visa Japan
mhamada@visa.com

Bitsy Rich
Visa Inc.
erich@visa.com

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LG Chem to Seek Innovative Technology Ideas Worldwide through 2nd Global Innovation Contest

SEOUL, South Korea-Thursday 25 July 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- LG Chem (KRX: 051910) announced on 25th that it will host the 2nd Global Innovation Contest (GIC) for leading universities and research institutions worldwide.

Being the first of its kind in Korean chemical industry, Global Innovation Contest invites organizations around the world to discover innovative ideas and technologies.

The contest is open for entry until 30th September in 4 categories: Petrochemicals, Batteries, Advanced Materials, and Bio technologies.

Scholars and researchers who are interested in developing the next generation’s innovative technology and industry-academia collaboration research are welcome to participate and submit their research proposals through the official GIC website (http://www.rnd.lgchem.com/global/gic).

LG Chem will form a judging panel of internal experts to evaluate the research proposals based on the company’s business strategies of each division.

The panel will also consider the technological innovativeness, marketability, and price competitiveness to draw up a shortlist. The nominees will be notified individually in December.

Nominated universities and institutes will be granted up to $150,000 of research and development expenses per year during their projects, as well as opportunities for researcher dispatch and technology exchange to support them.

In 2018, LG Chem held the 1st Global Innovation Contest in which total of 17 projects, including next-generation batteries and new energy technologies, were selected. The company has been supporting them with project expenses and technology exchange.

Furthermore, in April 2019, LG Chem held The Battery Challenge, the first global start-up contest in the battery industry and selected five start-ups to collaborate on developing new battery technology.

“The Global Innovation Contest has great significance as it provides open innovation that develops innovative R&D level technology into commercial technology through corporate-academia collaboration”, said Kisu Ro, the CTO of LG Chem.

Ro added, "We will continue to collaborate with third parties and invest in start-ups that have innovative solutions to acquire promising future technologies in advance.”

In 2019, LG Chem plans to invest the largest-ever amount of KRW 1.3 trillion (around $1.1 billion) in R&D and increase R&D manpower from 5,500 to 6,200 by the end of the year.

For more information on GIC 2019, please visit http://www.rnd.lgchem.com/global/gic

Contacts
LG Chem
GIC 2019 Organizing Committee
JIN HYUN PARK
+82-42-866-5731
lggic@lgchem.com

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Thales and Tata Communications join forces to address businesses’ data security concerns around IoT

Global IoT security solution aims to safeguard critical data both on device and network level, in particular for the automotive industry

READING, England-Thursday 25 July 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- Thales, a global leader in digital security, and Tata Communications, a leading global digital infrastructure provider, are working together to develop a secure global IoT connectivity solution. Tata Communications MOVE™ mobility and IoT platform and Thales’s T-Sure warranted digital identity offering is set to unlock the value in data generated by connected devices such as cars and trucks, whilst maintaining the integrity and security of IoT data.

In Tata Communications’ global Cycle of Progress1 survey, 30% of IT decision makers cited security and 25% cited privacy issues as the biggest barriers to IoT adoption. The combined capabilities of Tata Communications and Thales aims to lower these barriers and enable businesses and manufacturers to make the most of the transformational potential of IoT by giving them peace of mind that their critical IoT data is protected against cyber-attacks.

Thales will provide its T-sure warranted digital identity solution to Tata Communications MOVE™ SIM cards, based on technologies from Gemalto, a Thales company. While Tata Communications MOVE™ encrypts the data in motion (in current use), T-Sure protects the information at rest (archived) on the SIM, therefore safeguarding data both on the network and at the device level. The two companies look to undertake a series of proof-of-concepts with customers to test this solution in action.

The need to protect IoT data is a major concern for the automotive industry, due to advancements in connected cars and autonomous vehicles coupled with the continued threat of cyber-attacks. The Thales and Tata Communications’ solution aims to secure the data that vehicles carry and provide control over data and applications, whilst keeping hackers and cyber-criminals at bay. Reliable communications from vehicles to infrastructure (V2I) and from vehicle to vehicle (V2V) will help unlock the value in data generated by vehicles in applications such as driving pattern analytics, emergency services or preventive maintenance.

Thus, the manufacturer will be able to gather data through the SIM to ensure a vehicle is operating safely, the dealership can use the SIM for keeping track of the maintenance logs, and the vehicle car owner can trust that his or her private information stays private. The solution aims to allow for multiple secure ‘vaults’ within the vehicle to which only the vault owner has access. This means that the manufacturer, dealership and vehicle owner will each have their own private, secure space to store information, run applications and establish communications, and the security of these vaults would be enabled and managed via the Tata Communications MOVE™ platform.

“The only thing that will allow IoT to fulfil its potential and bring about innovations like autonomous vehicles is totally trusted and secure data connectivity. The marriage of Tata Communications’ expertise in the connected automotive sector with Thales’s leadership position in IoT and data security, reinforced by the integration of Gemalto, is driving an offering that will give end users complete trust in the integrity of their data whilst opening up new business opportunities for manufacturers.” Gareth Williams, Vice President, Secure Communications & Information Systems, Thales

1 More than 1,600 business decision makers were surveyed at the end of 2018 for the ‘Cycle of Progress’ across 10 countries: Germany, France, UK, Hong Kong, Singapore, India, UAE, Saudi Arabia, US and Canada. The survey was commissioned by Tata Communications.

“IoT could transform how businesses operate and how people engage with one another and with every ‘thing.’ Protecting data against cyber-attacks both at the device and network level is crucial to accelerate IoT adoption worldwide. Combining Tata Communications MOVE™ with Thales’s T-Sure solution helps businesses adopt IoT with confidence, and takes us closer to fulfilling our vision for a world where anything can be born connected – and born secure.” Anthony Bartolo, Chief Product Officer, Tata Communications.

Notes to editors

The Tata Communications MOVE™ platform is part of the company’s aim of creating a truly borderless mobile experiences for people and things, and facilitating its customers and partners’ growth in the global IoT market. It is underpinned by Tata Communications’ global network, which today connects 4 out of 5 mobile subscribers and carries around 30% of the world’s internet routes.

Thales’s T-Sure is a warranted digital identity solution, which leverages the company’s decades long experience in developing and delivering trusted systems in complex, safety-critical environments.

Gemalto-Thales products are at the heart the Internet of Things. For more than two decades, they have been pioneering market-leading M2M and IoT products and services that keep customers on the leading edge of innovation. As a part of the Thales group, Gemalto offer all the end-to-end technology bricks needed to drive digital transformation and leverage advanced analytics and artificial intelligence to support customers in decisive moments. Their IoT products and services simplify and speed IoT application design and development, ensure reliable wireless connectiviy and provide lifecycle management and steadfast security that allows people to trust in our digital world. Their comprehensive portfolio of solutions, services and software platforms collect data, connect assets, secure devices and data, and provide critical analytics and intelligence to support improved decision making and better business outcomes.

About Thales

The people who make the world go round – they rely on Thales. Our customers come to us with big ambitions: to make life better, to keep us safer. Combining a unique diversity of expertise, talents and cultures, our architects design and deliver extraordinary high technology solutions. Solutions that make tomorrow possible, today. From the bottom of the oceans to the depths of space and cyberspace, we help our customers think smarter and act faster – mastering ever greater complexity at every decisive moment along the way.

Thales generated revenues of €19 billion in 2018 with 80,000 employees in 68 countries.

About Tata Communications

Tata Communications is a leading global digital infrastructure provider that powers today’s fast growing digital economy.

The company’s customers represent 300 of the Fortune 500 whose digital transformation journeys are enabled by its portfolio of integrated, globally managed services that deliver local customer experiences. Through its network, cloud, mobility, Internet of Things (IoT), collaboration and security services, Tata Communications carries around 30% of the world’s internet routes and connects businesses to 60% of the world’s cloud giants and 4 out of 5 mobile subscribers.

The company’s capabilities are underpinned by its global network. It operates the world’s largest wholly owned subsea fibre backbone and a Tier-1 IP network with connectivity to more than 240 countries and territories.

Tata Communications Limited is listed on the Bombay Stock Exchange and the National Stock Exchange of India and is present in over 200 countries and territories around the world. www.tatacommunications.com

© TATA COMMUNICATIONS and TATA are trademarks of Tata Sons Limited in certain countries. Tata Communications MOVE is a trademark of Tata Communications in certain countries.

Forward-looking and cautionary statements

Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications’ expected financial position, business strategy, the future development of Tata Communications’ operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications’ network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company’s communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications’ industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications’ control, include, but are not limited to, those risk factors discussed in Tata Communications Limited’s Annual Reports. The Annual Reports of Tata Communications Limited are available at www.tatacommunications.com. Tata Communications is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements.

Contacts
PRESS CONTACTS

Thales, Media Relations
Security
Constance Arnoux
+33 (0)6 44 12 16 35
constance.arnoux@thalesgroup.com

Thales, UK
Michael Duncan
+44 (0)7977241663
Michael.duncan@uk.thalesgroup.com

GROUP COMMUNICATIONS – Thales – Tour Carpe Diem - 31 Place des Corolles - 92098 Paris La Défense Cedex - France – Tel.: +33(0)1 57 77 86 26 - www.thalesgroup.com

Tata Communications, Corporate Communications
Kersti Klami
Tata Communications
+44 7917 173 853
kersti.klami@tatacommunicatons.com

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Moody’s Acquires Majority Stake in Four Twenty Seven, Inc., a Leader in Climate Data and Risk Analysis

NEW YORK-Thursday 25 July 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- Moody’s Corporation (NYSE:MCO) announced today that it has acquired a majority stake in Four Twenty Seven, Inc., a leading provider of data, intelligence, and analysis related to physical climate risks. The acquisition solidifies Moody’s commitment to promoting transparent and globally consistent standards for evaluating environmental, social, and governance (ESG) risks and opportunities.

Four Twenty Seven will continue to be headquartered in Berkeley, CA, operating under its existing brand, and will be an affiliate of Moody’s Investors Service.

The addition of Four Twenty Seven enhances Moody’s growing portfolio of risk assessment capabilities and underscores its work to advance global standards for assessing environmental and climate risk factors. Four Twenty Seven will also strengthen Moody’s growing thought leadership and research on incorporating climate risk into economic modeling and credit ratings. The deal complements Moody’s recent acquisition of Vigeo Eiris, a leading provider of ESG research, data, and assessments.

Four Twenty Seven scores physical risks associated with climate-related factors and other environmental issues, including heat stress, water stress, extreme precipitation, hurricanes and typhoons, and sea level rise. Its scores and portfolio analytics feature extensive global coverage and quantify climate risk exposures across asset classes, with detailed data covering over 2,000 listed companies, one million global corporate facilities, 320 REITs, 3,000 US counties, and 196 countries. Four Twenty Seven’s data and indicators are used by asset owners, asset managers, banks, corporations and government agencies to understand and evaluate the potential climate risk they hold in their portfolios and activities.

“Four Twenty Seven has built a strong platform for quantifying climate-related exposures and producing actionable risk metrics, which are essential to understanding and informing climate risk and resilience measures,” said Myriam Durand, Global Head of Assessments at Moody’s Investors Service. “Moody’s is committed to offering global, transparent standards for assessing environmental risk, and the acquisition of Four Twenty Seven advances our objective of integrating climate analytics into our offerings.”

“Moody’s global coverage and analytical capabilities, combined with Four Twenty Seven’s comprehensive climate risk data and intelligence, provides an ideal path to continue our work helping market participants integrate potential climate impacts into risk management and investment decisions,” said Emilie Mazzacurati, Founder and CEO of Four Twenty Seven.

The terms of the transaction were not disclosed, and it will not have a material impact on Moody’s 2019 financial results. The transaction was funded with cash on hand.

For more information about Moody’s approach to ESG, visit esg.moodys.io.

Activating an environmentally sustainable future is a key focus of Moody’s approach to Corporate Social Responsibility. For more information visit moodys.com/csr.

About Moody’s Corporation

Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody’s Corporation (NYSE:MCO) is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management. The corporation, which reported revenue of $4.4 billion in 2018, employs approximately 13,200 people worldwide and maintains a presence in 44 countries. Further information is available at www.moodys.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for the Company’s business and operations that involve a number of risks and uncertainties. The forward-looking statements and other information in this release are made as of the date hereof (except where noted otherwise), and the Company undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise. In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, the Company is identifying examples of factors, risks and uncertainties that could cause actual results to differ, perhaps materially, from those indicated by these forward-looking statements. Those factors, risks and uncertainties include, but are not limited to, credit market disruptions or economic slowdowns, which could affect the volume of debt and other securities issued in domestic and/or global capital markets; other matters that could affect the volume of debt and other securities issued in domestic and/or global capital markets, including regulation, credit quality concerns, changes in interest rates and other volatility in the financial markets such as that due to the U.K.’s planned withdrawal from the EU; the level of merger and acquisition activity in the U.S. and abroad; the uncertain effectiveness and possible collateral consequences of U.S. and foreign government actions affecting credit markets, international trade and economic policy; concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of independent credit agency ratings; the introduction of competing products or technologies by other companies; pricing pressure from competitors and/or customers; the level of success of new product development and global expansion; the impact of regulation as an NRSRO, the potential for new U.S., state and local legislation and regulations, including provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) and regulations resulting from Dodd-Frank; the potential for increased competition and regulation in the EU and other foreign jurisdictions; exposure to litigation related to our rating opinions, as well as any other litigation, government and regulatory proceedings, investigations and inquires to which the Company may be subject from time to time; provisions in the Dodd-Frank Act legislation modifying the pleading standards, and EU regulations modifying the liability standards, applicable to credit rating agencies in a manner adverse to credit rating agencies; provisions of EU regulations imposing additional procedural and substantive requirements on the pricing of services and the expansion of supervisory remit to include non-EU ratings used for regulatory purposes; the possible loss of key employees; failures or malfunctions of our operations and infrastructure; any vulnerabilities to cyber threats or other cybersecurity concerns; the outcome of any review by controlling tax authorities of the Company’s global tax planning initiatives; exposure to potential criminal sanctions or civil remedies if the Company fails to comply with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which the Company operates, including data protection and privacy laws, sanctions laws, anti-corruption laws, and local laws prohibiting corrupt payments to government officials; the impact of mergers, acquisitions or other business combinations and the ability of the Company to successfully integrate such acquired businesses; currency and foreign exchange volatility; the level of future cash flows; the levels of capital investments; and a decline in the demand for credit risk management tools by financial institutions. These factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under “Risk Factors” in Part I, Item 1A of the Company’s annual report on Form 10-K for the year ended December 31, 2018, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company’s actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company’s business, results of operations and financial condition. New factors may emerge from time to time, and it is not possible for the Company to predict new factors, nor can the Company assess the potential effect of any new factors on it.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190724005169/en/

Contacts

For Moody’s:
SALLI SCHWARTZ
Moody’s Investor Relations
+1-212-553-4862
sallilyn.schwartz@moodys.com

OR

MICHAEL MULVAGH
Moody’s Communications
+1-212-553-7847
Michael.Mulvagh@moodys.com

For Four Twenty Seven:
MATTHEW YEMMA
+1-909-633-9396
myemma@peakstrategies.com


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ABB Q2 2019 results.

ZURICH -Thursday 25 July 2019 [ AETOS Wire ]
(BUSINESS WIRE)– Continued growth despite market headwinds; transformation progressing
Total orders +1%1, order backlog +7%
Revenues +2%, book-to-bill2 1.03x
Operational EBITA margin2 11.5%, impacted 60 basis points by GEIS dilution and additional 90 basis points by stranded costs
Net income $64 million, includes $455 million charge related to planned exit of solar inverter business
Operational EPS2 $0.34, -10%3
Cash flow from operating activities zero, solid cash delivery expected for the full year
Announced sale of solar inverter business to streamline portfolio
“ABB continued to generate top-line momentum during the second quarter despite macroeconomic headwinds and geopolitical uncertainty,” said Peter Voser, Chairman and CEO of ABB. “Going forward we will drive long-term growth across our businesses, while staying focused on costs and portfolio management. We are instilling a new culture of empowerment to build ABB into a stronger and more agile group.”
“Overall total orders and revenues continued to grow, led by Electrification and Motion while Robotics and Discrete Automation in particular felt the downturn in automotive and machine building,” said Timo Ihamuotila, CFO of ABB. “At the same time, we are making good progress with the carve-out of our Power Grids business, the integration of GEIS and the roll-out of our ABB-OS operating model, which all are planned to make ABB more profitable.”
To view the whole press please click here.


Contacts
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
Media Relations
Phone: +41 43 317 71 11
E-mail: media.relations@ch.abb.com
or
Investor Relations
Phone: +41 43 317 71 11
E-mail: investor.relations@ch.abb.com
https://www.aetoswire.com/news/abb-q2-2019-results/en

IBC Celebrates Young Talent in the Industry

LONDON-Tuesday 23 July 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- The media, entertainment and technology industry is changing. Attitudes are shifting, the next generation is consuming content differently to any before them and diverse and exciting content is being created to meet that demand in innovative formats. Driving this change is a new wave of industry talent, honoured at IBC with the first IBC Young Pioneer Award.

Recognising the brightest, newest talent in the industry, this award will go to someone who has made a real impact with their passion, ambition and commitment and is making an outstanding contribution to our industry.

“What we were looking for in the shortlist was, most importantly, real talent, a stand-out individual making a real difference in the industry,” said David Levine, VP, Programming - Kids, Europe & Africa/UK & Ireland, The Walt Disney Co. Ltd and Chair of the Judging Panel. “But we were also looking for a lasting legacy, for the Young Pioneer to be a leader today and a media guru of the future.”

The call for entries sought people under 30 who have demonstrably gone above and beyond their remit to produce positive results, through their own efforts or by motivating a team. Whether creative or technical, a strategist or an engineer, the Young Pioneer will be a leader, demonstrating a strong strategic vision and the personal skills to influence others.

This year’s entrants were narrowed it down to seven finalists, each bringing their own brand of pioneering spirit. Some are technical innovators while others are creative artists; some have added business acumen to lead teams or start businesses while others are inspiring those around them.

The shortlist for the IBC2019 Young Pioneer Award is:

• Vera Bichler, graduate of the HBS Broadcast Academy and the first woman football director for ORF in Austria

• Oliver Janesh Christiansen, inventor and developer of Cinefade, a camera add-on which allows cinematographers to vary depth of field

• Ahmed Al-Ghandour, host and producer of Al-Daheeh (“The Nerd”), an online science show which tackles complex concepts through comedy

• David Harnett, formerly Head of outside broadcast engineering for sound and now Head of operations at Timeline Television

• Samantha Kingston, CEO of Virtual Umbrella, developers of immersive content, and a mentor for the Prince’s Trust, helping young people start businesses

• Matej Michalko, blockchain pioneer and founder and CEO of Decent, a software platform company in Slovakia

• Dominik Wrona, Global OU Manager at BT Media & Broadcast, where he is also responsible for the business’s graduate and apprenticeship programme

“The Young Pioneer Award is looking for talent – those taking a chance and being bold with their ideas,” said Muki Kulhan, Executive Producer & Managing Director, Muki-International. “I was also looking for a young pioneer that is looking for better ways of using tech, someone who is showing really good promise in the industry. Really, I’m looking for someone I would hire for my own team!”

The finalists will have to wait to find out who takes home the first Young Pioneer Award trophy until the IBC2019 Awards Ceremony. Open to all IBC visitors, the Awards Ceremony takes place at 18:30 on Sunday 15 September, in the RAI Auditorium. Register for your free exhibition pass now: show.ibc.org/register.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190722005487/en/

Contacts

Aimee Moore
Marketing Assistant
amoore@ibc.org
T +44 (0) 20 7832 4104
F +44 (0) 20 7832 4130
IBC.org
show.ibc.org

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Schlumberger Announces Second-Quarter 2019 Results

• Worldwide revenue of $8.3 billion increased 5% sequentially
• International revenue of $5.5 billion increased 8% sequentially
• North America revenue of $2.8 billion increased 2% sequentially
• Pretax segment operating income of $968 million increased 7% sequentially
• EPS was $0.35
• Cash flow from operations and free cash flow were $1.1 billion and $0.5 billion, respectively
• Quarterly cash dividend of $0.50 per share was approved
PARIS-Wednesday 24 July 2019 [ AETOS Wire ]

(BUSINESS WIRE)-- Schlumberger Limited (NYSE: SLB) today reported results for the second quarter of 2019.

(Stated in millions, except per share amounts)
			Three Months Ended						Change
			Jun. 30, 2019		Mar. 31, 2019		Jun. 30, 2018		Sequential		Year-on-year
	Revenue		$8,269		$7,879		$8,303		5%		0%
	Pretax segment operating income		$968		$908		$1,094		7%		-12%
	Pretax segment operating margin		11.7%		11.5%		13.2%		17 bps		-148 bps
	Net income - GAAP basis		$492		$421		$430		17%		14%
	Net income, excluding charges & credits*		$492		$421		$594		17%		-17%
	Diluted EPS - GAAP basis		$0.35		$0.30		$0.31		17%		13%
	Diluted EPS, excluding charges & credits*		$0.35		$0.30		$0.43		17%		-19%
	North America revenue		$2,801		$2,738		$3,139		2%		-11%
	International revenue		$5,463		$5,037		$5,065		8%		8%
	North America revenue, excluding Cameron		$2,243		$2,178		$2,546		3%		-12%
	International revenue, excluding Cameron		$4,761		$4,469		$4,387		7%		9%

*These are non-GAAP financial measures. See section titled "Charges & Credits" for details.

Schlumberger Chairman and CEO Paal Kibsgaard commented, “Second-quarter revenue of $8.3 billion increased 5% sequentially, driven by our international business that grew 8% and showed continued signs of a broad upturn in E&P investment and activity. International rig counts increased 6% sequentially and 5% year-over-year. In contrast, North America land revenue grew 1% sequentially while North America offshore revenue increased 10%.

“During the first half of 2019, excluding Cameron, international revenue increased 8% year-over-year while North America land revenue declined 12% year-over-year. These results reflect the normalization in global E&P spend that we were anticipating as international investment increases in response to the accelerating decline in the mature production base, and North America land investment decreases due to E&P operator cash flow constraints. Double-digit year-over-year growth during the first half of 2019 was posted in the Mexico & Central America, Latin America North, Sub-Sahara Africa, and Far East Asia & Australia GeoMarkets while high, single-digit growth was seen in the United Kingdom & Continental Europe, Eastern Middle East, and South & East Asia GeoMarkets. Our results, therefore, continue to match our expectations of high, single-digit growth across our international business in 2019.

“During the second quarter, sequential international growth was led by the Europe/CIS/Africa area, where revenue increased sequentially by 11% driven by activity that strengthened beyond the seasonal recovery in the Russia & Central Asia and United Kingdom & Continental Europe GeoMarkets. Sequential international growth was also driven by a 19% improvement in the Far East Asia & Australia GeoMarket and a 12% increase in the Latin America area while revenue in the Middle East region grew 3%.

“In North America land, despite the impact of the spring breakup in Canada, OneStim® activity was higher, which was offset by weak hydraulic fracturing pricing and a general decrease in drilling activity. Offshore North America revenue increased from stronger exploration-led activity driven mainly by WesternGeco®multiclient seismic license sales.

“By business segment, sequential growth in the second quarter was led by a 7% increase in revenue in Reservoir Characterization followed by a 6% increase in Production on higher international activity that exceeded the strength of the seasonal rebounds following winter in the Northern Hemisphere. The higher international activity benefited Wireline, WesternGeco, Well Services, Completions, Schlumberger Production Management (SPM), and Artificial Lift Solutions. Cameron revenue increased 5% sequentially from higher OneSubsea® and Surface Systems activity, primarily in the international markets. Drilling revenue increased 1% sequentially as international growth was partially offset by weakness in activity in North America land.

“From a macro perspective, we expect oil market sentiments to remain balanced. The oil demand forecast for 2019 has been reduced slightly on trade war fears and current global geopolitical tensions, but we do not anticipate a change in the structural demand outlook for the mid-term. On the supply side, we continue to see US shale oil as the only near- to medium-term source of global production growth, albeit at a slowing growth rate, as E&P operators continue to transition from an emphasis on growth to a focus on cash and returns, with consequent restraining effects on investment levels. These effects, combined with the decision by OPEC and Russia to extend production cuts through the first quarter of 2020, are likely to keep oil prices range bound around present levels. Although the markets are well supplied from production added by projects that were sanctioned before 2015, this added supply will begin to fall in 2020 and create risk for the future as the decline rates in many mature production basins become an increasingly significant challenge. In addition, while the number of new projects we expect to receive final investment decision (FID) approval in 2019 is likely to increase again for the fourth consecutive year, their size and number account for supply additions far below the required global annual production replacement rates. We therefore maintain our view that international E&P investment will grow 7% to 8% in 2019, further supported by the increase in international rig count. In contrast, spending in North America land is tracking our expectations of a 10% decline this year.

“The increasing international market investment and a reduction in North America land capex represent a positive market shift for Schlumberger and the welcome return of a very familiar opportunity set. With our unmatched global strength, our modernized execution platform, and our expanded technology portfolio now ready for broad digital implementation, we are well positioned to generate superior earnings growth, margin expansion, and free cash flow in the emerging international upcycle.”

Other Events
Schlumberger announced today that its Board of Directors has appointed Olivier Le Peuch as its Chief Executive Officer, and member of the Schlumberger Board, effective August 1, 2019. Mr. Le Peuch succeeds Paal Kibsgaard, who will retire as Chief Executive Officer effective that same date. Also effective August 1, Mr. Kibsgaard will step down as Chairman of the Board and retire as a member of the Board of Directors. Mr. Kibsgaard will retire after more than 22 years of service to the Company, including eight years as CEO and four years as Chairman. Effective the same date, Mark G. Papa, a current non-independent director, will become non-executive Chairman of the Board. Peter Currie will continue to serve as the Board’s Lead Independent Director.

During the quarter, Schlumberger repurchased 2.5 million shares of its common stock at an average price of $40.12 per share, for a total purchase price of $101 million.

On April 28, 2019, Saudi Arabia’s Industrialization and Energy Services Company (TAQA) announced that Arabian Drilling Company (ADC)—a joint venture between TAQA and Schlumberger—agreed to acquire Schlumberger’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq, and Pakistan for $415 million. Schlumberger and TAQA formed the ADC joint venture in 1964, with Schlumberger owning 49% while TAQA owns 51%. The transaction is expected to close in the second half of 2019, subject to regulatory approvals and other customary closing conditions.

On May 14, 2019, Schlumberger and Wellbore Integrity Solutions (WIS), an affiliate of Rhône Capital, announced that they had entered into an agreement for WIS to acquire the Schlumberger businesses and associated assets of DRILCO, Thomas Tools, and Fishing & Remedial services. The transaction is valued at approximately $400 million and is expected to close by year-end 2019, subject to regulatory approvals and other customary closing conditions.

On July 17, 2019, Schlumberger’s Board of Directors approved a quarterly cash dividend of $0.50 per share of outstanding common stock, payable on October 11, 2019 to stockholders of record on September 4, 2019.


Click here for the full press release.


About Schlumberger
Schlumberger is the world’s leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. With product sales and services in more than 120 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry’s most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.

Schlumberger Limited has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.82 billion in 2018. For more information, visit www.slb.com.

*Mark of Schlumberger or Schlumberger companies.

Notes

Schlumberger will hold a conference call to discuss the earnings press release and business outlook on Friday, July 19, 2019. The call is scheduled to begin at 8:30 a.m. US Eastern Time. To access the call, which is open to the public, please contact the conference call operator at +1 (800) 288-8967 within North America, or +1 (612) 333-4911 outside North America, approximately 10 minutes prior to the call’s scheduled start time. Ask for the “Schlumberger Earnings Conference Call.” At the conclusion of the conference call, an audio replay will be available until August 19, 2019 by dialing +1 (800) 475-6701 within North America, or +1 (320) 365-3844 outside North America, and providing the access code 468337. The conference call will be webcast simultaneously at www.slb.com/irwebcast on a listen-only basis. A replay of the webcast will also be available at the same web site until August 19, 2019.

This second-quarter 2019 earnings release, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts, such as our forecasts or expectations regarding business outlook; growth for Schlumberger as a whole and for each of its segments (and for specified products or geographic areas within each segment); oil and natural gas demand and production growth; oil and natural gas prices; improvements in operating procedures and technology, including our transformation program; capital expenditures by Schlumberger and the oil and gas industry; the business strategies of Schlumberger’s customers; our effective tax rate; Schlumberger’s SPM projects, joint ventures and alliances; future global economic conditions; and future results of operations. These statements are subject to risks and uncertainties, including, but not limited to, global economic conditions; changes in exploration and production spending by Schlumberger’s customers and changes in the level of oil and natural gas exploration and development; general economic, political and business conditions in key regions of the world; foreign currency risk; pricing pressure; weather and seasonal factors; operational modifications, delays or cancellations; production declines; changes in government regulations and regulatory requirements, including those related to offshore oil and gas exploration, radioactive sources, explosives, chemicals, hydraulic fracturing services and climate-related initiatives; the inability of technology to meet new challenges in exploration; and other risks and uncertainties detailed in this second-quarter 2019 earnings release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190719005164/en/

Contacts

Simon Farrant – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Office +1 (713) 375-3535
investor-relations@slb.com


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