The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Internet traffic will likely more than double in five years and much of it will be used for online video, according to a new estimate from Cisco Systems, which released its annual Internet traffic forecast Tuesday.
In the U.S., Internet traffic is expected to surge from 15 exabytes per month last year to 37 exabytes monthly in 2018. (What is an exabyte? It's too large to contemplate and even the practical comparisons are somewhat meaningless, but here.) Globally, the expansion pattern is similar.
Internet video is expected to account for about 84 percent of all U.S. Internet traffic in four years, up from its current 78 percent, Cisco says. That figure also includes "IP VOD," which is basically pay-tv providers' on-demand video services. A recent Sandvine study on cord-cutters also pointed to how much more bandwidth they use than average Internet users. Interestingly, the percentage of traffic devoted to those pay-TV services is expected to drop as services from online content providers, such as Netflix or Amazon, become more popular, according to Cisco.
It may not be that people are watching more online videos, Cisco's vice president of global tech policy Robert Pepper says, but that they're just watching more data-intensive ultra high-definition videos on their Internet-enabled TVs. Cisco estimates about 20 percent of televisions by 2018 will be able to play ultra high-definition (or 4K) videos.
Other findings from the report:
With the expected increase in online video viewing, particularly video conferencing, and other Internet of Things devices, such as wearables or health monitors, network management will be even more critical, said Jeff Campbell, vice president of Cisco's global government affairs team.
"You need to have the bits arrive in the right place at the right time," Campbell said.
That brings up the issue of net neutrality, which is the idea that broadband providers shouldn't be able to block or discriminate against traffic.
Cisco's take on net neutrality for years has been that consumers should be able to do what they want online without worrying about blocking or traffic discrimination. But the company doesn't fall into all-bits-are-equal camp, arguing instead that Internet networks need to be managed so time-sensitive data can get there first (and that Internet providers should be allowed to experiment).
All data is important, but some data needs to get there faster than others, said Scott Gerber, a Cisco spokesman, using the example of remote health monitors and crop sensors, both of which could operate on the same network. "Timeliness matters for the health data but it doesn't matter if we're checking on the moisture level in a field of wheat," he said. "Some data can wait and some data can't."
Twice, the FCC has recognized this concern by saying that Internet Service Providers could use "reasonable network management" practices. But the agency didn't narrowly define "reasonable," which has led some net neutrality activists over the years to question whether Internet providers could abuse the term.
CNBC's parent NBC Universal is an investor in Re/code's parent Revere Digital, and the companies have a content-sharing arrangement.