We reevaluate the hadronic contributions to the muon magnetic anomaly, and to the running of the electromagnetic coupling constant at the Z-boson mass. We include new pi+pi- cross-section data from KLOE, all available multi-hadron data from BABAR, a reestimation of missing low-energy contributions using results on cross sections and process dynamics from BABAR, a reevaluation of all experimental contributions using the software package HVPTools, together with a reanalysis of inter-experiment and inter-channel correlations, and a reevaluation of the continuum contributions from perturbative QCD at four loops. These improvements lead to a decrease in the hadronic contributions with respect to earlier evaluations. For the muon g-2 we find lowest-order hadronic contributions of (692.3 +- 4.2) 10^-10 and (701.5 +- 4.7) 10^-10 for the e+e- based and tau-based analyses, respectively, and full Standard Model predictions that differ by 3.6 sigma and 2.4 sigma from the experimental value. For the e+e- based five-quark hadronic contribution to alpha(MZ) we find Delta_alpha_had[5](MZ)=(275.7 +- 1.0) 10^-4. The reduced electromagnetic coupling strength at MZ leads to an increase by 7 GeV in the most probable Higgs boson mass obtained by the standard Gfitter fit to electroweak precision data.
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