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HTC reveals Vive Focus, all-in-one VR headset | Taiwanese consumer electronics firm HTC has unveiled the Vive Focus, the first standalone six-degrees-of-freedom headset to hit the market. However, HTC's announcement only covered the release of the Vive Focus in China, and gave no details on pricing or launch date. In addition, the company also confirmed it had cancelled its project with Google on a Vive-branded Daydream headset.
| https://www.theverge.com/2017/11/14/16648112/htc-vive-focus-standalone-headset-announced-daydream-cancelled | 2017-11-14 12:00:41.343000 | HTC has officially revealed the Vive Focus, its all-in-one VR headset. As previously announced, the Vive Focus runs on a Qualcomm Snapdragon 835 chip and uses inside-out positional tracking. It should be the first standalone six-degrees-of-freedom VR headset to see release, though HTC isn't saying exactly when it'll be available.
The Vive Focus uses a somewhat simple-looking three-degrees-of-freedom controller with a similar trackpad to the larger Vive devices. The headset's design is unusual, taking cues from both PlayStation VR and HTC's own Vive Deluxe Audio Strap, and it comes in a bright shade of blue. HTC hasn't given a lot more away about the Focus' other specs, like its screen resolution.
HTC has only announced plans for the Vive Focus in China just yet, and even then there aren't any details on pricing or a release date. If you were holding out for that Vive-branded standalone Google Daydream headset, meanwhile, there's bad news — HTC and Google have cancelled their plans to bring it to the US. |
AI-enhanced device conducts ultrasound with help of a smartphone | New York and Connecticut-based start-up Butterfly Network has been granted clearance by the US Food and Drug Administration for its hand-held iQ ultrasound device, which can be used in 13 applications, such as heart and pregnancy scans. The lab-on-a-chip medical imaging tool uses machine learning and artificial intelligence to offer ultrasounds to users via their smartphones. Butterfly's chief medical officer, John Martin, used it to identify and diagnose a cancerous growth in his own throat. Currently, iQ can only be pre-ordered by licensed healthcare providers, but the company hopes it will be available to the wider public soon.
| https://futurism.com/new-ultrasound-device/ | 2017-11-14 11:54:36.383000 | A Bit of AI and iQ
Entrepreneurial engineer Jonathan Rothberg suddenly became popular and rich after he made the world's first DNA sequencer on a chip called the Ion Torrent back in 2011. In the years since then, Rothberg founded and led a new startup called Butterfly Network, which recently unveiled a new device called the iQ, which is equipped with an artificial intelligence (AI) that allows you to perform an ultrasound with a smartphone.
Essentially, the iQ is a lab-on-a-chip medical imaging tool that make ultrasounds accessible to all. You don't need to be a lab technician to figure out how to operate the iQ. It simply attaches to an iPhone's lightning jack, and its machine learning algorithms help the user find what he or she is looking for.
Image Credit: Screen shot from Butterfly Network, Inc.
The iQ is also revolutionizing a more than 40-year-old technology. Almost all regular ultrasounds use compressed charged crystals or ceramics to send out a sound, pick up an echo, and calculate distance to form an image — pretty much like how bats navigate.
For the iQ, Butterfly's engineers replaced these crystals with capacitive micromachine ultrasound transducers (CMUTs). These are rows of incredibly tiny drums that vibrate at a range of frequencies when a current is run through them, depending on the electrical power.
Butterly combined this technology with algorithms originally designed for bundling data from thousands of telescopes together to image the cosmos, developed by physicist Max Tegmark and Nevada Sanchez. The latter co-founded the Butterfly Network with Rothberg.
To keep the iQ's final design as compact as possible, the engineers bonded CMUTs directly onto a semiconductor layer, doing away with wiring. These layers contain all the needed signal processors and amplifiers that convert sound into images, according to a report by Wired.
A Radical Diagnostic Tool
A number of people assume that getting an ultrasound is only for pregnant women, as it remains the most popular method of checking the health of unborn babies. So, why bother with a pocket ultrasound, right? In reality, this is hardly the case. Aside from checking on fetuses, ultrasound is an effective imaging tool for examining internal organs in the body — hence Butterfly's slogan, "Whole body imaging. Under $2k."
Granted, the images it produces are not as clear as those from higher intensity imaging machines like an MRI or a CT scan. Nevertheless, an ultrasound can be useful, especially if getting one doesn't require you to visit the nearest medical lab.
According to the Butterly Network's official website, the iQ has received clearance from the U.S. Food and Drug Administration to be used for diagnostic imaging covering 13 clinical applications, which include heart scans for both adults and children, pregnancy exams, musculo-skeletal tests, and even for urinary tract checks.
While we may be accustomed to these kinds of procedures being relegated exclusively to the domain of doctors and technicians, Butterfly's chief medical officer John Martin argues that giving people the ability to perform an ultrasound with a smartphone is simply taking us one step further in our journey towards self-directed health monitoring. “Thermometers once lived only inside hospitals. And blood pressure cuffs, and defibrillators,” Martin told WIRED. Martin was able to use the iQ to spot a growing cancer mass under his own throat, which has since been removed.
While, for now, the iQ can only be preordered by licensed healthcare providers, Martin hopes that it can soon be available to all. “The sooner we can put smart technologies in the hands of people at home, the sooner the right diagnosis can be made. I’ve yet to find a disease state where earlier detection didn’t lead to better outcomes. And I’m living proof of that," Martin added. |
Automation enables Alibaba's record breaking Singles Day sales | Robotic devices were among the most popular items bought during this year's record-breaking Singles Day, which resulted in total sales for Alibaba of $25.3bn, compared to $17.8bn in 2016. The e-commerce event, which takes in all of China and more than 180 other countries, also relies heavily on automated systems to select and deliver 1.5 billion Alibaba parcels. Alibaba had specialist warehouses, 100,000 upgraded smart stores using vision, navigation and transport systems, and an army of human workers were on hand during the period, according to therobotreport.com.
| https://www.therobotreport.com/robots-two-pronged-role-alibabas-25-3-billion-singles-day-sale/ | 2017-11-14 11:47:58.317000 | The Singles’ Day Shopping Festival held each year on November 11th is just like Black Friday, Mothers’ Day or any other sales-oriented psuedo-holiday, but bigger and more extravagant. Starting in 2009 in China as a university campus event, Singles Day has now reached all over China and to more than 180 countries.
After 24 hours of non-stop online marketing, including a star-studded Gala with film star Nicole Kidman and American rapper Pharrell Williams, the day (also known as Bachelors Day or 11/11 because the number “1” is symbolic of an individual that is alone) concluded with a sales total of ¥168 billion ($25.3 billion) on the Tmall and Taobao e-commerce networks (both belong to the Alibaba Group (NASDAQ:BABA)). Other e-commerce platforms including Amazon’s Chinese site Amazon.cn, JD.com, VIP.com and Netease’s shopping site you.163.com also participated in the 11/11 holiday with additional sales.
Singles Day sales reported by Alibaba were $5.8 billion in 2013, $9.3 billion in 2014, $14.3 billion in 2015, $17.8 billion in 2016, and $25.3 billion for 2017.
In a story reported by DealStreetAsia, JD.com said that their sales for Singles’ Day – and its 10-day run-up – reached ¥127.1 billion ($19.1 billion), a 50% jump from a year ago. JD started its sales event on Nov. 1st to reduce delivery bottlenecks and to give users more time to make their purchasing decisions.
Muyuan Li, a researcher for The Robot Report, said: “Chinese people love shopping on e-commerce websites because sellers offer merchandise 20% – 60% cheaper than in the stores, particularly on 11/11. Sites and consumer items are marketed as a game and people love to play. For example, if you deposit or purchase coupons in advance, you can get a better deal. Customers compare prices on manmanbuy.com or smzdm.com and paste product page urls into xitie.com to see the historical prices for those products. There are lotteries to win Red Envelope “cash” which are really credits that can be applied to your Singles Day shopping carts, and contests to beat other shoppers to the check out.”
Robotics-related products sold in great quantities on Singles Day. ECOVACS and other brands of robot vacuum cleaners were big sellers as were DJI and other camera drones and all sorts of robotic toys and home assistants.
The process:
Although 11/11 was a great day for people buying robotic products, it was also a significant day for the new technologies of handling those products: 1.5 billion Alibaba parcels will transverse China over the next week delivering those purchases to Chinese consumers while all those packed and shipped items will have been manufactured, boxed, cased, temporarily stored and then unskidded, unboxed, picked and packed, sorted for shipment and shipped in all manner of ways.
New technology is part of how this phenomenal day is possible: robots, automation, vision systems, navigation systems, transportation systems and 100,000 upgraded smart stores (where people viewed items but then bought online) – all were part of the mechanical underside of this day – and foretell how this is going to play forward. There were also hundreds of thousands of human workers involved in the process.
Material handling:
Here are a few of the robotics-related Chinese warehousing systems vendors that are helping move the massive volume of 11/11’s 1.5 billion packages:
Alibaba and Jack Ma: |
Geely completes acquisition of flying-car start-up Terrafugia | Volvo's Chinese parent company, Zhejiang Geely, has completed the purchase of Terrafugia, a flying-car start-up. Terrafugia is developing a prototype electric vertical take-off and landing vehicle with tilt rotors. | https://www.theverge.com/2017/11/13/16643342/volvo-geely-terrafugia-flying-car-acquisition | 2017-11-14 11:21:02.963000 | In another huge confidence boost for the nascent “flying car” industry, Volvo’s Chinese parent company announced today that it has completed its acquisition of Terrafugia, a startup founded by MIT engineers and MBA students.
News of the purchase first leaked back in July, when the South China Morning Post reported that China’s Zhejiang Geely Holding Group Co. was considering adding the 11-year-old Terrafugia to its portfolio. Neither company confirmed the acquisition until today, when they issued a joint statement announcing their intention of making flying cars “a reality.” At the time, the idea of Volvo’s parent company trying to build and sell flying cars had many people scratching their heads. And I have no doubt the number of itchy scalps will grow tenfold now that the deal is done.
hitting that retro-futuristic sweet spot
That’s because flying cars, while hitting that retro-futuristic sweet spot, are widely considered to be hugely difficult, if not outright unworkable, from a mobility perspective. The idea of filling the skies above our cities with aerial taxis has many urbanists and city planners clutching their pearls in fear. And many of the companies, Terrafugia included, that are working on the technology have been known to over-promise and underperform.
However, Terrafugia is not some latecomer to the flying car business like Google’s Larry Page or Uber. The Woburn, Massachusetts-based team has been flying its prototypes since 2009. The Transition, a road-ready prop plane with retractable wings, received approval from the US National Highway Traffic Safety Administration in 2012 that essentially made it street legal. And the startup even managed to sell a handful at a price of $279,000 each. To be sure, the Transition was more of a drivable plane than a flying car, but it supposedly fits into a one-car garage, so why split hairs?
Its TF-X prototype is even more ambitious. If the Transition could be considered the product of literally mashing together a car and a plane, the TF-X more closely resembles the pop culture vision of a flying car. “Think Blade Runner or Back to the Future,” Terrafugia says on its website. The retractable wings of the TF-X feature a pair of tilt rotors that would allow the aircraft to take off and land vertically like a helicopter. This type of VTOL (pronounced vee-tol) technology is seen as fundamental to the creation of an aerial taxi service, as envisioned by Uber and others. The aircraft would be electric powered, avoiding all the noise and pollution typically associated with helicopters.
“The team at Terrafugia have been at the forefront of believing in and realizing the vision for a flying car and creating the ultimate mobility solution,” Geely’s founder and chairman Li Shufu said in a statement. “This is a tremendously exciting sector and we believe that Terrafugia is ideally positioned to change mobility as we currently understand it and herald the development of a new industry in doing so.”
“herald the development of a new industry”
As part of the acquisition, Terrafugia’s founder Carl Dietrich will transition to the role of chief technology officer, allowing Geely to appoint Chris Jaran, former managing director of Bell Helicopters, as CEO. Geely’s vice president for international business Nathan Yu Ning will become chairman of Terrafugia, and three other Geely executives will join the company’s board. In the run-up to the purchase, Terrafugia tripled its number of US-based engineers, and Geely says it plans on making even more hires now that the deal is completed.
Terrafugia will also benefit from Geely’s largesse, which was able to transform Volvo from a distressed property purchased from Ford in 2010 to one of the world’s leading automakers. The Hangzhou, China-based company also owns The London Taxi Company, which operates that city’s iconic black cabs, and large chunks of Malaysia’s Proton and the UK’s Lotus. |
EMoov suspends raffle sale listing on property portals | Online agent eMoov has removed a listing from the Zoopla and Rightmove portals after it appeared to be trying to market a property that is being offered as a raffle prize. EMoov initially said the property would be held back until clarification had been sought from both portals but later announced that the listing had been suspended because portals such as Zoopla and Rightmove do not allow homes to be privately sold on their sites. In any case, the vendor said he was unable to launch the competition as planned, due to technical issues on the raffle website.
| http://www.propertyindustryeye.com/emoov-suspends-plans-for-portal-listing-after-eye-questions-if-it-is-a-private-sale/ | 2017-11-14 11:12:27.770000 | Post navigation
Online agent eMoov pulled a potential portal listing last night after it appeared to be attempting to show a property on Rightmove and Zoopla that is being sold privately as a raffle prize.
The agent sent out a press release championing its service yesterday, promoting an upcoming listing from a seller who was due to raffle his property as a competition prize at £5 a ticket, but there was no indication of what service eMoov was actually providing.
The press release was then recalled.
The agent had said the seller had chosen eMoov due to its low fees and the ability to get his property shown on Rightmove and Zoopla.
An eMoov spokesman initially said: “We are acting as the agent inasmuch as he has listed with us, but he doesn’t require any viewings or offer progressions service so our involvement is limited to listing the property for him.”
EYE questioned whether this is technically a private sale, which is not allowed on the portals, as it was being run on a separate raffle website.
Another eMoov spokesman then thanked us for raising the issue, and said the property would be held back while clarification was sought from the portals.
The spokesman said: “Rightmove wants to run it past their data team but we are hoping there is no issue as they do occasionally allow listings of this nature, and as this is for a very good cause and not personal gain they are hoping they are able to help.
“We are also looking to put the listing up but the mechanics at the moment mean it pushes automatically to the portals.”
It is unclear what previous listings of this nature Rightmove has allowed.
EYE also queried if the seller would have his fee refunded if the listing isn’t allowed, but it later transpired that eMoov was planning to refund it anyway as the raffle was for charity.
Some house raffles are only legal if they are raising money for charity.
A Zoopla spokesman confirmed EYE’s suspicions that such a listing wouldn’t be allowed on the portal, and Rightmove has said the same.
Late yesterday, eMoov sent out another message saying the listing had been suspended as the vendor “has encountered some issues with the pay function on the destination site and so is unable to launch the competition as planned”.
There was no mention of the portal issue. |
Plentific partners with Web.com to put tradespeople online | Custom website design firm Web.com and Plentific, an online marketplace for tradespeople, are partnering to offer a combined service. Customers of both will have access to each of the sites' features. Plentific’s director of business development Kevin North said customers were "far more likely" to have faith in a company with its own domain, and working with Web.com would enable more tradespeople to compete online and expand their businesses.
| http://phpionline.co.uk/news/plentific-partners-web-com/ | 2017-11-14 11:10:10.607000 | Plentific & Web.com are launching a new partnership to help trade professionals realise their full potential online.
Starting this month, tradespeople signing up to Plentific or Web.com will enjoy features provided by both companies in a single offering. As well as lead generation and domain creation with Web.com, users will also have access to Plentific’s centralised and evolving platform, allowing them to message customers, send quotes and collect payments in one secure location.
Plentific is dedicated to providing a marketplace that makes it simple for the trade to manage their work and find new leads. All jobs booked on Plentific are covered by the ‘Plentific Guarantee’, a policy that can cover a customer’s project and give them much more confidence in hiring a tradesperson. ‘Verified Pros’ can also offer two-year insurance-backed protection for their jobs.
“Plentific and Web.com share the goal of making it much easier for everyday tradesmen to manage their businesses online,” said Plentific’s Director of Business Development Kevin North. “This partnership will allow us to add real value to our product offering by giving tradespeople more of a presence in an increasingly competitive online world. With this, they will be able to find the work they need while also building trust in the services that they offer.
“Too many of us have the impression that getting online is expensive and time consuming. The fact is that customers are far more likely to trust a business with its own domain, especially when compared to tradespeople with free-domain email addresses which look unprofessional.”
Web.com’s UK Company Director Alastair Thornton said: “Our partnership with Plentific will be a huge help to small trade businesses looking to market themselves on the internet. This kind of web presence does not need to be the sole domain of huge nationwide brands; we want to show that any business with a drive to succeed can reap the benefits of having an online audience.” |
Facebook ad suite leverages 1.2 billion users linked to companies | With more than 1.2 billion Facebook users connected to small businesses abroad, the social media giant has released four features to help companies advertise across borders. Dynamic Language Optimisation enables Facebook to can match ad set languages to respective users. Multi-country Lookalike Audiences lets companies find the best potential customers in a combination of countries, while Multi-city Targeting helps them reach users in groups of cities based on population size. Finally, Cross-border Business Insights Finder lets advertisers access comparative country data based on performance across Facebook and Instagram. | http://www.adweek.com/digital/facebook-cross-border-solutions-update-november-2017/ | 2017-11-14 11:08:34.853000 | Facebook Tuesday introduced four new features to help ensure that borders are not barriers to advertising on the social network.
Facebook said in a blog post that more than 1.2 billion of its users are connected to small businesses in other countries.
FacebookCrossBorderSolutionsNovember2017 from SocialTimes on Vimeo.
The four new features revealed by Facebook Tuesday are: |
Bupa pulls out from Northern Ireland NHS hospitals | Private health insurer Bupa has suspended referring policyholders to National Health Service (NHS) hospitals in Northern Ireland. The firm says the hospitals do not offer the level of service wanted by its customers. Patients will reportedly now have to travel to England for a number of procedures. Cardiac surgery, scans to grade cancers and operations performed among people deemed to be obese are among these surgeries. | https://www.belfasttelegraph.co.uk/news/health/bupa-pulls-out-of-every-northern-ireland-nhs-hospital-36313089.html | 2017-11-14 11:07:49.323000 | One of the UK's biggest private health insurance companies has withdrawn from all hospitals in Northern Ireland, it can be revealed today
One of the UK's biggest private health insurance companies has withdrawn from all NHS hospitals in Northern Ireland, it can be revealed today.
Northern Ireland people paying Bupa upwards of £3,500 a year for cover may now have to travel outside the province even for routine operations, such as hip and knee replacements.
Last month it was revealed that Bupa stopped sending patients to the Belfast Health Trust in April this year as the trust did not have the medical negligence cover required.
However, it has now emerged that Bupa is not sending any patients to any of Northern Ireland's NHS hospitals. The health insurance company said it stopped referring patients to the remaining four trusts as they did not offer the level of service wanted by its customers.
James Sherwood, Bupa's director of health and benefits management, said: "The vast majority of our customers in Northern Ireland have always chosen to receive treatment at private facilities, so very few were using any of the NHS trust hospitals."
As a result of the situation, any Bupa customer who may require an intensive care bed after surgery will no longer be able to have their procedure done here, as none of the private hospitals have an ICU.
This means anyone having routine cardiac surgery, such as cardiac catheterisation, will have to travel to England for the diagnostic procedure.
Scans to grade cancer are no longer available to patients living in Northern Ireland.
Meanwhile, Bupa customers who are deemed to be obese cannot have any operations here, as they are more likely to suffer complications as a result of having a general anaesthetic.
It is a devastating blow for Bupa customers, coming at a time when hospital waiting times are spiralling out of control and an increasing number of people are using private health insurance to pay for procedures, such as hip and knee replacements.
NHS waiting times for these procedures can be as long as five years from the time a patient goes to their GP and finally goes under the knife.
At the same time, official statistics released last month revealed the startling number of people in Northern Ireland who are overweight or obese.
According to statistics from the Department of Health, 36% of people here are now classed as obese - which increases the likelihood of suffering from joint conditions that will require surgery.
Bupa patients classed as obese by private hospitals here will now have to lose weight or travel to England for such operations.
It is understood that all five health trusts continue to treat patients using other private health insurance companies.
Private healthcare companies such as Bupa only pay for treatments if customers attend approved hospitals and see approved consultants.
In order to be approved, a hospital must fulfil a number of requirements, including meeting hygiene standards and having indemnity insurance in place.
They normally ask clients to choose from a list of approved doctors and hospitals ahead of any treatment being carried out.
Speaking last month, Bupa said the decision to withdraw approval from the Belfast Trust was a temporary measure and it was working to ensure the necessary medical negligence insurance - believed to be in the region of £20m - was put in place once more.
However, it is now six months since approval was removed and the trust has not said whether it intends to acquire the necessary cover.
In the meantime Bupa said it paid the travel costs of any people travelling to England for surgery.
However, it is not known whether it covers additional costs, such as accommodation or travel costs of a family member to accompany a patient during their treatment. |
Lionsgate releases Chrome extension to promote movie | Entertainment company Lionsgate has released a Chrome extension that replaces negative online comments with messages of kindness. The introduction of the Choose Kindness Chrome extension marks the release of its movie Wonder, a film about a boy bullied for facial differences. The tool, developed with Jigsaw's Perspective technology, uses machine learning to find abusive content and has three levels of moderation: kind, kinder and kindest. It then places a banner with a statement like "Kindness is contagious" over the offending material, giving users the choice to reveal the text or keep it hidden.
| http://www.adweek.com/digital/lionsgates-chrome-extension-turns-abusive-facebook-and-twitter-comments-positive/ | 2017-11-14 11:06:37.843000 | Lionsgate’s movie Wonder (which premieres on Friday) tells the story of August Pullman, a boy who was born with facial differences and looks different from his classmates. Classmates bully him as he enters fifth grade at his first mainstream school. T0 make that message relatable online, the film studio created a clever way to filter content and show how much better the world would be without hurtful comments. |
Max Bupa introduces health insurance machines in India | Max Bupa has introduced "AnyTimeHealth" (ATH) machines across India with the goal of increasing the adoption of health insurance. The machines allow customers to assess their health, choose an insurance policy and obtain the relevant policy documents in as little as three minutes. The machines measure metrics such as blood pressure, body mass index and temperature in order to recommend a policy. Roughly 80% of the Indian population is without health insurance. | https://www.siasat.com/news/max-bupa-redefines-health-insurance-introduces-anytimehealth-machines-1257303/ | 2017-11-14 11:05:01.753000 | New Delhi [India]: Among India’s leading health insurance players, Max Bupa, on Monday announced the launch of Max Bupa AnyTimeHealth (ATH) machines to propel health insurance penetration in the country.
The ATH is Max Bupa’s innovative new technology-based solution that will allow customers to run instant health assessment and buy health insurance cover, in just 180 seconds.
Revolutionizing the way people buy health insurance in India by simplifying the insurance purchase journey, Max Bupa ATH machines will let customers initiate their health assessment, choose the right health insurance plan for themselves, and walk away with the policy document all in three minutes.
“Health insurance has almost become a necessity in India with the growing incidence of lifestyle diseases but the overall penetration is still quite low with close to 80 percent of the Indian population still not covered under any form of health insurance. The Indian health insurance industry needed something disruptive to ensure health cover reaches every Indian,” said MD & CEO, Max Bupa, Ashish Mehrotra.
“With the Max Bupa ATH machines we aim to democratize health by addressing the key issues and challenges faced by Indians on their buying journey. While we anticipate greater penetration for health insurance overall with the innovation, we also expect the Max Bupa ATH machines to increase our Bancassurance throughput by 2.5X and become an independent sales channel in the next three to five years, comprising 15 percent – 20 percent of our total digital sales,” added Mehrotra.
Looking at the severe under-penetration of health insurance in India, the ATH machines have been designed for customers who find health insurance buying either too complicated, or do not find the time or motivation to insure something as important as their health.
Max Bupa’s AnyTimeHealth is a completely automated, technology-based model with a simple interface that offers a comprehensive awareness-to-purchase journey, overcoming the procrastination hurdle experienced by many Indians.
The five simple steps a first-time user needs to follow include registration using their email ID and phone number, followed by non-intrusive health assessment, automated health insurance policy recommendation based on details entered and test output, instant payment, and instant policy issuance.
At this stage, customers will be able to perform non-intrusive health assessment covering Body Mass Index, Blood Pressure, Body Type and Fat percent, Muscle percent, Bone Mass, Body Temperature, Hydration level and Blood Oxygen percent; and buy the policy instantly.
ATHs are built on a scalable technology platform, and the future versions of ATHs will be reimagined as end-to-end customer service systems based on Max Bupa’s product and servicing requirements.
The upgraded versions of the ATHs will service retail customers 24×7 and will be online to offer more customized and personalized health insurance plans. These machines may also offer Artificial Intelligence (AI) based interventions.
As per the Max Bupa Pulse survey conducted in early 2017, people are moving towards digital mediums and platforms for buying and renewing health insurance.
While 47 percent of the respondents confirmed opting for online platforms for renewing health insurance, 13 percent said they would go to online platforms for purchasing health insurance.
Max Bupa’s is a much needed technology application that simplifies health tracking and decision making for customers.
It is a result of thorough analysis of the obstacles towards health insurance penetration in India and aim to address the challenges of awareness (of one’s health and the need for health insurance), accessibility (of a genuine advisor and policy issuer), and serviceability (end-to-end experience) among Indians through technology.
The ATH machines will be introduced in the market through the company’s Bancassurance partners – such as Bank of Baroda, giving Max Bupa access to potentially 20 percent of the banked Indians.
In the first phase, 20 ATH machines will be installed at partner banks’ branches, across multiple cities.
Through the next few months, Max Bupa will focus on gathering customer inputs, feedback, and performance data to enhance services/offerings through the systems.
In the next 12-15 months, Max Bupa has plans to install multiple ATH machines across retail locations such as malls, societies/ RWAs, airport lounges, hotels etc.
Max Bupa expects its ATH machines to drive the next phase of growth for the health insurance industry.
The ATH machines have been designed by Max Bupa, in partnership with Yolo Health, a health tech startup. (ANI) |
Insurance blockchain start-up ChainThat gains funding | ChainThat, an insurance start-up focusing on blockchain technology, has gained "multi-million" dollar financing from insurance consultancy Xceedance. The exact amount of the investment was not disclosed. ChainThat provides blockchain technology to help with the management of insurance contracts. The firm predominantly operates in the commercial, specialty and reinsurance spaces. | http://www.businesswire.com/news/home/20171113006140/en/Xceedance-Multi-Million-Dollar-%E2%80%9CSeries-A%E2%80%9D-Investment-ChainThat | 2017-11-14 10:31:00.023000 | LONDON--(BUSINESS WIRE)--Xceedance, a global provider of insurance consulting, managed services, technology and data sciences, today announced a multi-million dollar “Series A” equity investment in ChainThat, a London-based blockchain specialist organisation serving the re/insurance industry.
Using a proprietary insurance blockchain framework (CT-IBF), ChainThat supports re/insurance contract management and transactional processes in key areas of the insurance lifecycle including claims, accounting and settlement, billing and collections, and credit control. The ChainThat framework includes integrated business intelligence and reporting for real-time management and operational information.
As a pioneering startup in blockchain and distributed ledger technologies, ChainThat develops products for the commercial, specialty, and reinsurance markets. The ChainThat team provides secure online transactional services specifically tailored for re/insurance operations. Its partnership with Xceedance enables the two companies to drive the adoption of blockchain in re/insurance by developing and applying decentralised technology, data/analytics, and industry-expert services to strengthen the business practices and policyholder services of a wide range of insurance organisations.
“This is a strategic alliance of two progressive companies that believe specialised services and new technologies can transform the re/insurance industry,” said Arun Balakrishnan, chief executive officer at Xceedance. “Our scale will help to accelerate the growth of ChainThat, and our clients will benefit from the blockchain, distributed ledger technology and smart contract expertise of our partnership. The deep industry knowledge and technology credentials of ChainThat complement our own. Our investment in the power and potential of ChainThat is an advantageous step in the expansion of both companies.”
In addition to the investment by Xceedance, ChainThat will have access Xceedance global resources, including insurance-expert business and technology consultants, industry-knowledgeable IT professionals, business development and support services.
“We are thrilled with the strategic investment from Xceedance to help scale our company,” said David Edwards, ChainThat founder and chief executive officer. “Key to this investment stage was finding the right partner with industry knowledge and a passion for the future of re/insurance collaboration. With the support of Xceedance we can now focus on enhancing products to enrich a wide range of customer-centric applications. Together with Xceedance, we look forward to delivering the transformative benefits of practically deployable, decentralised blockchain technology in the insurance ecosystem.”
About Xceedance
Xceedance is a global provider of consulting and managed services, technology and data sciences to insurance organisations. With offices in the U.S., U.K., Poland and India, Xceedance partners with insurers to launch new products, drive operations, implement technology, and deliver advanced analytics capabilities and process optimisation.
About ChainThat
ChainThat was formed in 2015 by a group of London-based insurance technology experts, with the aim of transforming insurance markets using blockchain, distributed ledger technology and smart contracts. The solutions of ChainThat cover placing, contract management, facilities, accounting and settlement and claims agreement, all utilising industry standards such as ACORD.
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Redrow Council asked to scrap housing partnership with Redrow | Liverpool City Council is being urged to drop its housing partnership with Redrow Homes. Liberal Democrat councillors claim the housebuilder is failing to meet the city's housing requirements, saying that more two and three bedroom homes are needed, rather than a handful of high-priced homes. The motion adds that the starting prices of £300,000 ($355,000) to £650,000 for properties are beyond the means of many young families.
| http://www.clickliverpool.com/business/22311-lib-dems-urge-liverpool-council-to-back-corbyns-housing-policy/ | 2017-11-14 10:17:19.890000 | In a surprising motion to Wednesday’s Council Liverpool’s Lib Dem Group are asking Council to back Jeremy Corbyn’s housing policy of “for the many – not the few” and have asked them ditch the housing “partnership” with Redrow Homes.
In moving the motion Lib Dem Cllr for Allerton & Hunts Cross Mirna Juarez will say, “the current partnership with Redrow Homes is failing to deliver the housing that Liverpool needs. Instead of a handful of high priced homes the South Liverpool area where Redrow likes to build needs more 3 bed semis and two bed flats.
In the council’s own figures in Woolton, Church, Allerton, Cressington and Mossley Hill wards there are 4,459 people living alone, many of them in substantial houses. They need two bedroomed flats to move to in the areas where they live. This would release big homes to young families. At the same time the starting price of £300,000 up to £650,000 on the Redrow Homes is way beyond the reach of young families who are continuing to leave our City.
The motions’ seconder Cllr Andrew Makinson will add, “this is not a good financial deal either. The latest figures are that the cash received from Redrow to date has only assisted with the provision of 96 social homes. This is no more than would have been received in land sales and section 106 planning agreements than from any other developer and we would probably have got more for the land if separately tendered. Because so few houses are built on the land our council tax take is a lot less than if we had agreed a larger number of smaller homes”.
Leaving aside the Redrow Partnership the motion also addresses the problems highlighted in local media of the sale of the freeholds of properties to greedy speculators who then hold residents to ransom with a string of charges. The motion asks for an agreement on the sale of any land by the Council that it be subject to the sale of the freehold of the land to the resident being included in the initial sale. If that is not possible the freeholds should be held by specific companies owned by the freeholders of the estate. Liberal Democrats believe that the council should not support a system whereby unsuspecting home-owners are held to ransom by greedy profiteers. |
Speedy Hire Speedy Hire announces profits before tax up 58.8 per cent | Tool and plant hire company Speedy Hire has reported H1 2017 pre-tax profits of £10.8m ($14.2m), almost 60% higher than in 2016. The company also said that first-half revenues grew 6.9% to £183.2m, while company dividend rose by 51.5% to 50p per share. CEO Russell Down said the financial results were down to a "rigorous approach to capital allocation and cost control".
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Speedy Hire
The tools and plant hire company, has reported a strong first half performance in its latest results.
The Newton-le-Willows headquartered business announced profits before tax was up 58.8 per cent to £10.8m for the six months to September 30.
Revenues increased by 6.9 per cent to £183.2m during the period.
Speedy Hire, which endured a tumultuous 2016, saw its debts reduced to £63.1m, down from the £71.4m reported in March.
Investors will be happy with the increase to their dividend up 51.5 per cent to 50p per share.
The results have been attributed to a restructure of the business and operational efficiencies.
The company also reported growing revenue from value added services businesses; testing, inspection and certification (TIC), training and consumables.
Russell Down, chief executive, said:"These results are confirmation of the sustainable progress we continue to make following implementation of our customer focussed strategy and a rigorous approach to capital allocation and cost control.
"Our end markets are diverse and remain competitive. The improvements we have made to our operations have enabled us to more effectively manage the business and meet market challenges.
"We are confident of delivering a result for the year above current expectations and that the Group has a strong future ahead of it."
Renold
The supplier of industrial chains and power transmission products, has announced a mixed set of trading results as it focusses on strategic goals.
The company has its international HQ in Wythenshawe and two other parts of the business: Torque Transmission and Chain.
The group saw revenue increase by eight per cent to £95.4m, for the half year to September 30.
However, operating profit was down from £7.6m to £6m compared to the same period in 2016.
This was down to the Chain division which saw orders grow by 15.7 per cent, but also saw an increase in raw material costs and machine break-downs.
Torque Transmission saw revenue up 6.1 per cent and adjusted operating profit increase.
While Renold admitted overall profits were 'disappointing', progress is being made in its STEP 2020 strategic plan to make the business more efficient.
Robert Purcell, chief executive, said: "Whilst the first half of the year was a disappointing period for profit delivery, the issues in Chain are being resolved, and we are seeing distinct signs of improvement in our end markets.
"During the period we have continued to build the commercial and operational platform from which to deliver improved performance. Our efforts are starting to bear fruit: our order intake demonstrates significant progress, and we are also seeing the benefits of our actions in the enhanced results of Torque Transmission.
"We continue to believe that our STEP 2020 strategy is the right path to deliver a more robust, higher margin business. We are confident of delivering improved performance in the second half."
ITV
Shares in broadcasting giant ITV slipped this morning after its revenue declined.
The group, home to shows such as The X Factor and Broadchurch, said it was confident in the strength of the business ahead of new chief executive Carolyn McCall’s arrival.
In the nine months to 30 September, total external revenue was down one per cent to £2.1bn, based on a mixed performance across different areas
While broadcast and online revenues sank four per cent to £1.45bn, online, pay and interactive revenues jumped eight per cent, while ITV studios revenue was up nine per cent at just over £1bn.
Shares were down 1.75 per cent to 151.3p in early trading.
Sir Peter Bazalgette, ITV executive chairman, said: “ITV’s performance in the first nine months of 2017 is very much as we anticipated.
"We’ve seen improving trends in all our key revenue lines in the quarter and we’re on track to deliver on the commitments we set out at the start of the year.”
He added: “We will enter 2018 in good shape with a strong operating performance underpinned by a robust balance sheet, and we look forward to the arrival of our new CEO, Carolyn McCall, early in the New Year.” |
AWS scales back cloud assets in China to comply with law | Amazon Web Services (AWS) is to sell certain physical assets from its cloud business in China to its partner Beijing Sinnet Technology for CNY2bn ($301m). Amazon said the sale of assets would help AWS to comply with Chinese law that forbids non-Chinese firms from running or owning certain technology for the provision of cloud services; it does not mean the company is leaving the world's second largest economy, and AWS will retain the intellectual property for its cloud services worldwide. | https://www.cnbc.com/2017/11/14/amazon-sells-cloud-business-in-china-for-up-to-301-million.html | 2017-11-14 09:52:55.130000 | Beijing Sinnet Technology said Tuesday it would buy parts of Amazon's cloud business in China for up to 2 billion Chinese yuan ($301 million), but the U.S. e-commerce giant said it was not exiting the world's second-largest economy.
In August 2016, Amazon signed a deal to let Chinese tech firm Sinnet operate services provided by Amazon Web Services (AWS) in China.
Sinnet said in a regulatory filing on Monday that the purchase, which is still pending, would help it "comply with China's laws to further improve the company's AWS cloud services" in terms of quality and security.
But Amazon said that it is only selling "certain physical assets" and still owns the intellectual property for AWS worldwide.
"No, AWS did not sell its business in China and remains fully committed to ensuring Chinese customers continue to receive AWS's industry leading cloud services. Chinese law forbids non-Chinese companies from owning or operating certain technology for the provision of cloud services. As a result, in order to comply with Chinese law, AWS sold certain physical infrastructure assets to Sinnet, its longtime Chinese partner and AWS seller-of-record for its AWS China (Beijing) Region," Amazon told CNBC's Deirdre Bosa.
"AWS continues to own the intellectual property for AWS Services worldwide. We're excited about the significant business we have in China and its growth potential over the next number of years."
The deal could be linked to increasing regulatory scrutiny from the Chinese government who is trying to tighten their grip on the internet in the country. Sinnet asked its customers earlier this year to stop using virtual private networks (VPNs), which are able to circumvent China's Great Firewall.
Other U.S. firms have also faced a challenging situation in China. In July, Apple removed VPNs from its app store in China, amid the crackdown on such services by the government.
AWS has been a jewel in the crown for Amazon's earnings in recent times and a big reason why the company's shares are up over 50 percent year-to-date. |
BNY Mellon merges three buy-side firms | BNY Mellon Investment Management is merging three of its boutiques together into one entity. The three units in question are Mellon Capital Management, Standish Mellon Asset Management and The Boston Company Asset Management. The merged entity will have approximately $560bn in assets under management. The firm says the merger will take roughly 12 months to conclude, with the new entity launching some time during 2018. | https://www.thetradenews.com/Buy-side/BNY-Mellon-combines-US-buy-side-businesses/ | 2017-11-14 09:34:50.110000 | BNY Mellon Investment Management is to launch a new specialist, multi-asset investment management business by combining its three largest US buy-side firms.
Mellon Capital Management, Standish Mellon Asset Management and The Boston Company Asset Management will merge to form the new company and offer clients single and multi-asset, active and passive investment strategies.
The combined entity will have over $560 billion in assets under management, employing more than 300 individuals globally.
It will be headquartered in Boston and will be led by the current CEO of US asset management at BNY Mellon Investment Management, Des Mac Intyre.
“Each business already has in-depth investment expertise in their respective areas. By combining them we will be able to increase our investment in their collective capabilities and add new investment solutions for the benefit of clients,” he commented.
BNY Mellon explained the companies’ teams, processes and core strategies will largely remain the same, but as they collaborate more closely over time the processes and philosophies will be improve and optimised.
Mitchell Harris, CEO of BNY Mellon Investment Management, added clients are increasingly seeking specialist managers with differentiated investment strategies and competitive pricing.
“This combined US business will give clients unified access to our intellectual capital in multi-asset strategies, alongside a strengthened investment process and an optimised platform with increased resources to deliver innovative and competitively priced solutions,” he added.
The merger of the businesses is expected to be completed within 12 months and will launch officially under a unified brand later in 2018. |
German robo-adviser Scalable Capital grows assets to €500m | German robo-adviser Scalable Capital has grown its assets under management to €500m ($589m). The platform launched 22 months ago and the firm says a partnership with German bank ING-DiBa has helped it garner €150m in assets, with 7,000 of the lender's customers signing up. The robo-adviser isn't just targeting young investors: more than a third of its clients are reportedly over 55.
| https://www.finextra.com/pressarticle/71539/scalable-capital-hits-500-million-in-assets | 2017-11-14 09:34:05.340000 | Source: Scalable Capital
Just 22 months after its launch in Germany and 16 months after the launch in the UK, digital wealth manager Scalable Capital manages over 500 million euros of investments for more than 15,000 clients.
The Fintech is expanding its position as the clear market leader in Germany and is one of the fastest growing robo-advisors worldwide.
"In the past ten months, we have been able to grow our assets under management fivefold to over half a billion euros. This shows that private investors value the benefits of a technology-driven investment model, cost-effective ETFs and digital usability, " said Adam French, Founder and CEO of Scalable Capital.
The cooperation with ING-DiBa exceeds expectations
Scalable Capital's partnership with ING-DiBa, Germany's third-largest bank by number of customers, provided a particular boost to growth: in the first two months of the cooperation, almost 7,000 ING-DiBa customers have already invested more than 150 million euros. So far, no other online wealth manager in Germany has reached 150 million euros in such a short amount of time.
While ING-DiBa is in charge of custody, Scalable Capital manages client investments with its proprietary risk management technology. It is the first fully integrated partnership between a major German bank and a digital wealth manager. The cooperation is likely to be rolled-out to other European markets.
Over a third of investors are over 55
As assets under management increase, so does the age of Scalable Capital’s clients. The average age currently stands at 50 years whereas a year ago it was just 42 years. Over a third of investors are over 55; testament to the fact that digital wealth management is by no means only embraced by Millennials. Rather, it attracts audiences with wealth to invest and previous investment expertise that can appreciate its benefits. Particularly welcome is the growing share of female investors, which rose to more than 20 percent within the past 12 months. Regardless of age and gender, Scalable Capital's clients continue to have one thing in common: they are well educated. Over 90 percent of clients have a university degree. Their most common professions are bankers, economists, computer scientists and engineers.
On average, clients have currently invested £28,000 with Scalable Capital, with new clients significantly increasing their initial investment within the first six months. Nearly half of the clients also use a free savings plan, which is on average at £350 per month. The company also manages many large portfolios. Portfolios with more than £100,000 represent almost a third of assets under management. |
Audi looks to develop pilot e-diesel factory in Switzerland | Audi is planning to build a pilot "e-diesel" production facility in Switzerland. The proposed unit in Laufenburg will use energy supplied from a hydroelectric power station to synthesise carbon dioxide and hydrogen to produce the fuel. The plant is intended to have capacity to produce about 400,000 litres of the fuel a year. Audi and its partners Ineratec and Energiedienst will submit planning applications for the site shortly, with construction expected to start early next year. | https://www.audi-mediacenter.com/en/press-releases/audi-steps-up-research-into-synthetic-fuels-9546 | 2017-11-14 08:50:40.240000 | e-tron
e-tron
e-tron
Experience a century of adrenaline-fueled excitement as we honor the Le Mans 100-year anniversary. With Audi's racing heritage deeply ingrained in our DNA, we pay tribute to the iconic race that has shaped motorsport history. Join us as "Mister Le Mans" himself, Tom Kristensen, reminisces about the legendary race while taking a ride in the Audi RSGT*. Step into the journey of Le Mans, remembering the past and embracing the future of motorsport. #Audi #PerformanceIsAnAttitude #RSGT #LeMans24 -------------------- *Audi RSGT: Power consumption combined in kWh/100 km: 22.1-19.8; CO₂ emissions combined: 0 g/km. Only consumption and emission values according to WLTP and not according to NEDC are available for the vehicle. Further information: www.audi.com/dat. The vehicles shown are intended for professional use on closed circuits only and are not available as production models. Closed circuit, professional driver. Do not attempt. |
Compliance costs create uneven playing field on buy-side | Smaller asset managers are feeling the pinch as increased regulations have created a less competitive marketplace and forced "defensive" buy-side mergers, such as Standard Life Aberdeen, Janus Henderson and Amundi Pioneer, according to industry insiders. The harsh environment has also put pressure on technology providers who are developing solutions for smaller houses lacking in-house resources.
| https://www.thetradenews.com/Buy-side/Cost-of-compliance-leading-to-uneven-playing-field-on-buy-side/?elqTrackId=0884c874e9644404a9e59c9fae2220cf&elq=351ba932d4254d61884b81ca5b09446b&elqaid=2877&elqat=1&elqCampaignId=2365 | 2017-11-14 08:36:31.973000 | Several senior fixed income market participants have highlighted the cost of compliance has created a less competitive environment in the asset management industry.
Buy-side experts explained they have started to ‘defensively merge’ with one another, in a bid to fight off growing costs often seen through compliance technology and a squeeze on profits.
“This is something we will see more of moving forward and the larger powerhouses will have that bandwidth to cover costs of compliance. Smaller asset managers will need to be more creative when looking at how to comply with legislation,” said Carl James, global head of fixed income trading at Pictet Asset Management.
The burden of compliance has been particularly felt by smaller asset managers unable to keep up with the costs, according to Andrew Falco, head of fixed income trading at Fidelity International.
“The regulatory landscape has made the environment less competitive because if you can’t afford compliance costs being put in front of you, you could be driven out of the market place.
“Costs are definitely increasing and I look more like a compliance officer these days, signing reports and best execution files on a daily basis, but we are in a place at Fidelity where we have the means to do this. It makes how you engage with markets much more difficult for smaller asset managers,” Falco explained.
This year has seen several major buy-side mergers, including Standard Life Aberdeen, Janus Henderson and Amundi Pioneer. A squeeze on profits and rising costs are often cited as being reasons for mergers.
Paul Reynolds, fixed income product manager at TradingScreen, added larger houses also have more ability to build technology for compliance in-house, whereas smaller asset managers simply don’t have the resources.
He said: “Building in-house for some is not in scope these days due to the complexities around integration, connectivity and resources. That puts onus on vendors like us to keep developing these products to supply them to those who can’t build the technology themselves.” |
Richest 1% of global population owns 50.1% of all wealth | The richest 1% of people on the planet own half of the world’s wealth, according to Credit Suisse’s global wealth report, published on Tuesday. The exact amount owned by the 1% has increased from 42.5% in 2008 to 50.1%, or $140tn (£106tn), this year. 2017 has seen the creation of 2.3 million new dollar millionaires, to a total of 36 million. Such millionaires comprise just 0.7% of the adult population, but control 46% of the total $280tn of global wealth. The poorest 3.5 billion adults, or 70% of the working population, own just 2.7% of global wealth.
| https://www.theguardian.com/inequality/2017/nov/14/worlds-richest-wealth-credit-suisse | 2017-11-14 00:00:00 | The globe’s richest 1% own half the world’s wealth, according to a new report highlighting the growing gap between the super-rich and everyone else.
The world’s richest people have seen their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% in 2017, or $140tn (£106tn), according to Credit Suisse’s global wealth report published on Tuesday.
“The share of the top 1% has been on an upward path ever since [the crisis], passing the 2000 level in 2013 and achieving new peaks every year thereafter,” the annual report said. The bank said “global wealth inequality has certainly been high and rising in the post-crisis period”.
The increase in wealth among the already very rich led to the creation of 2.3 million new dollar millionaires over the past year, taking the total to 36 million. “The number of millionaires, which fell in 2008, recovered fast after the financial crisis, and is now nearly three times the 2000 figure,” Credit Suisse said.
These millionaires – who account for 0.7% of the world’s adult population – control 46% of total global wealth that now stands at $280tn.
At the other end of the spectrum, the world’s 3.5 billion poorest adults each have assets of less than $10,000 (£7,600). Collectively these people, who account for 70% of the world’s working age population, account for just 2.7% of global wealth.
The report said the poor are mostly found in developing countries, with more than 90% of adults in India and Africa having less than $10,000. “In some low-income countries in Africa, the percentage of the population in this wealth group is close to 100%,” the report said. “For many residents of low-income countries, life membership of the base tier is the norm rather than the exception.”
Meanwhile at the top of what Credit Suisse calls the “global wealth pyramid”, the 36 million people with at least $1m of wealth are collectively worth $128.7tn. More than two-fifths of the world’s millionaires live in the US, followed by Japan with 7% and the UK with 6%.
However, the collapse in the value of the pound since the Brexit vote meant the total number of dollar millionaires in the UK fell by 34,000 to 2.19 million. Just over half of the UK’s 51 million adults have wealth in excess of $100,000. The mean average wealth of a UK adult is $278,038, but the median is $102,641.
While the global population of millionaires has grown considerably, the number of ultra-high net worth individuals (UHNWIs) – those with a net worth of $50m or more – has increased even faster. “The number of millionaires has increased by 170% [since 2000], while the number of UHNWIs has risen five-fold, making them by far the fastest-growing group of wealth-holders,” the report said.
Most of the new UHNWIs have been created in the US, but 22% come from emerging economies, notably China.
The biggest losers, the report says, are young people who should not expect to become as rich as their parents. “Those with low wealth tend to be disproportionately found among the younger age groups, who have had little chance to accumulate assets,” Urs Rohner, Credit Suisse’s chairman, said. “But we find that millennials face particularly challenging circumstances.”
Rohner, who is paid SFr4m (£3m), said millennials have been dealt a series of blows including high unemployment, tighter mortgage rules, increased income inequality and reduced pensions. “With baby boomers occupying most of the top jobs and much of the housing, millennials are doing less well than their parents at the same age, especially in relation to income, home ownership and other dimensions of well-being assessed in this report.”
He said that millennials are much more educated than their parents. But he added: “We expect only a minority of high achievers and those in high demand sectors such a s technology or finance to effectively overcome the ‘millennial disadvantage’.”
Oxfam said Credit Suisse’s research showed that politicians need to do more to tackle the “huge gulf between the haves and the have-nots”.
“In the UK, the wealthiest 1% have seen their share increase to nearly a quarter of all the country’s wealth, while the poorest half have less than 5%,” Oxfam’s head of advocacy, Katy Chakrabortty, said. “This divide matters hugely at a time when millions of people across the UK face a daily struggle to make ends meet and the numbers living in poverty are the highest for almost 20 years.
“The recent Paradise Papers revelations laid bare one of the main drivers of inequality – tax-dodging by rich individuals and multinationals. Governments should act to tackle extreme inequality that is undermining economies around the world, dividing societies and making it harder than ever for the poorest to improve their lives.
“In the UK, the chancellor should use next week’s budget to prioritise tough action to tackle tax avoidance to help provide funds to fight poverty in both the UK and developing countries.” |
Richest 1% of global population owns 50.1% of all wealth | The richest 1% of people on the planet own half of the world’s wealth, according to Credit Suisse’s global wealth report, published on Tuesday. The exact amount owned by the 1% has increased from 42.5% in 2008 to 50.1%, or $140tn (£106tn), this year. 2017 has seen the creation of 2.3 million new dollar millionaires, to a total of 36 million. Such millionaires comprise just 0.7% of the adult population, but control 46% of the total $280tn of global wealth. The poorest 3.5 billion adults, or 70% of the working population, own just 2.7% of global wealth.
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Global car rental market expected to grow 13.55% annually until 2022 | The global car rental market is expected to reach $124.56bn by 2022, growing at a compound annual growth rate (CAGR) of 13.55% between 2017 and 2022. The US accounted for 44.6% of market share in 2016, with economy cars accounting for approximately 33.1% of the global market. International tourism is the leading factor in the growth of the car rental market, along with rapid industrialisation in India, China and Japan. | https://www.zionmarketresearch.com/sample/car-rental-market | 2017-11-13 17:12:19.243000 | Country -Select Country- Afghanistan (Islamic Republic of Afghanistan) Åland Islands (Åland Islands) Albania (Republic of Albania) Algeria (People's Democratic Republic of Algeria) American Samoa (American Samoa) Andorra (Principality of Andorra) Angola (Republic of Angola) Anguilla (Anguilla) Antarctica (Antarctica (the territory South of 60 deg S)) Antigua and Barbuda (Antigua and Barbuda) Argentina (Argentine Republic) Armenia (Republic of Armenia) Aruba (Aruba) Australia (Commonwealth of Australia) Austria (Republic of Austria) Azerbaijan (Republic of Azerbaijan) Bahamas (Commonwealth of the Bahamas) Bahrain (Kingdom of Bahrain) Bangladesh (People's Republic of Bangladesh) Barbados (Barbados) Belarus (Republic of Belarus) Belgium (Kingdom of 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(Republic of Panama) Papua New Guinea (Independent State of Papua New Guinea) Paraguay (Republic of Paraguay) Peru (Republic of Peru) Philippines (Republic of the Philippines) Pitcairn Islands (Pitcairn Islands) Poland (Republic of Poland) Portugal (Portuguese Republic) Puerto Rico (Commonwealth of Puerto Rico) Qatar (State of Qatar) Réunion (Réunion) Romania (Romania) Russian Federation (Russian Federation) Rwanda (Republic of Rwanda) Saint Barthélemy (Saint Barthélemy) Saint Helena, Ascension and Tristan da Cunha (Saint Helena, Ascension and Tristan da Cunha) Saint Kitts and Nevis (Federation of Saint Kitts and Nevis) Saint Lucia (Saint Lucia) Saint Martin (Saint Martin (French part)) Saint Pierre and Miquelon (Saint Pierre and Miquelon) Saint Vincent and the Grenadines (Saint Vincent and the Grenadines) Samoa (Independent State of Samoa) San Marino (Republic of San Marino) Sao Tome and Principe (Democratic Republic of Sao Tome and Principe) Saudi Arabia (Kingdom of Saudi Arabia) 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Thailand (Kingdom of Thailand) Timor-Leste (Democratic Republic of Timor-Leste) Togo (Togolese Republic) Tokelau (Tokelau) Tonga (Kingdom of Tonga) Trinidad and Tobago (Republic of Trinidad and Tobago) Tunisia (Tunisian Republic) Turkey (Republic of Turkey) Turkmenistan (Turkmenistan) Turks and Caicos Islands (Turks and Caicos Islands) Tuvalu (Tuvalu) Uganda (Republic of Uganda) Ukraine (Ukraine) United Arab Emirates (United Arab Emirates) United Kingdom of Great Britain & Northern Ireland (United Kingdom of Great Britain & Northern Ireland) United States Minor Outlying Islands (United States Minor Outlying Islands) United States of America (United States of America) United States Virgin Islands (United States Virgin Islands) Uruguay (Eastern Republic of Uruguay) Uzbekistan (Republic of Uzbekistan) Vanuatu (Republic of Vanuatu) Venezuela (Bolivarian Republic of Venezuela) Vietnam (Socialist Republic of Vietnam) Wallis and Futuna (Wallis and Futuna) Western Sahara (Western Sahara) Yemen (Yemen) Zambia (Republic of Zambia) Zimbabwe (Republic of Zimbabwe) |
Silvertown Quays will feature on-site factory for 850 homes | A new housing development in East London will be built with components produced at an on-site factory. The Silvertown Quays development is part of the £3.5bn ($4.61bn) redevelopment of a 62 acre site, alongside London City Airport and the Thames Barrier, being led by a consortium of three developers. The plans include the use of a purpose-built factory at the site to produce prefabricated components for up to 3,000 houses, with 850 being built in the first phase. The method will be faster than traditional construction and up to 20% cheaper.
| https://www.homesandproperty.co.uk/property-news/silvertown-is-poised-for-stardom-as-londons-first-factorybuilt-town-of-850-new-homes-a115296.html?utm_campaign=crowdfire&utm_content=crowdfire&utm_medium=social&utm_source=twitter#157042161-tw#1510404676714 | 2017-11-13 17:09:42.863000 | O nce a forlorn little east London corner, Silvertown is poised for stardom thanks to a regeneration programme that will create the capital’s first factory-built town.
A factory will be built on-site to construct the components for 850 new homes as part of a £3.5 billion masterplan. Residents should be moving in by 2020.
Their new homes will be part of an architectural and retail scheme that is promised strictly to be free of skyscrapers and chain stores.
"We see it as a vibrant 24-hour area. And we are obsessed with design. We won’t build homes that are just boxes with no character or identity"
Right now there are few clues that Silvertown, stranded on a sliver of land between the Thames Barrier, London City airport and Pontoon Dock, is being put on the map.
A few small developments were thrown up on disused industrial sites in the Eighties and Nineties but work fizzled out, leaving the new locals stranded.
Buying a pint of milk is still a challenge in Silvertown, and if you plan on going out locally to eat or drink, you can forget it: there is nothing here but old, abandoned mills.
GIANT PROJECT
Olaide Oboh is spokeswoman for the Silvertown Partnership, a consortium of three developers — Chelsfield Properties, First Base and Macquarie Capital — leading the regeneration.
Pre-fabulous: no tall towers and no chain stores at Silvertown, which will eventually have 3,000 new factory-built homes / Silvertown Partnership
“We see it as a vibrant, 24-hour area,” she says. “And we are obsessed with design. We won’t build homes that are just boxes with no character or identity. They will work well and be beautiful to look at.”
The regeneration of Silvertown has been considered for years.
There has been a lengthy preparation period, part of which was taken up with obtaining planning permission for the project from Newham council.
Stripping out a ton of dangerous asbestos from the Millennium Mills, a hulking Art Deco former flour mill which will eventually become the centrepiece of the 62-acre site, was a mammoth task. But over the next few months the pace will pick up.
Poised for a decision: TfL plans a new Silvertown to Greenwich road tunnel
Later this year a “container city” of up to 250 shipping containers will be installed, providing affordable temporary workspace for small businesses. By the new year the ambitious first phase of this giant project will get under way.
THE POTENTIAL TO BE SPECTACULAR
The restoration of the potentially spectacular Millennium Mills, which will feature shops, bars, and restaurants plus workspace for start-up firms, will be completed by about 2019, and simultaneously a new bridge will be installed over Royal Victoria Dock, giving pedestrian access to the new super-fast Crossrail links to the City and West End when they begin next year from nearby Custom House station.
Transport for London, meanwhile, is pursuing plans to dig a new road tunnel beneath the Thames from Silvertown to the Greenwich Peninsula. A government decision on whether to allow the £1 billion project is expected within days. An opening date of 2022 or 2023 has been pencilled in.
Connection: a curved new Royal Victoria Dock footbridge will give access to Crossrail at Custom House / Alamy
Eventually there will be about 3,000 new homes, ranging from one to five bedrooms — a mixture of private, affordable, shared ownership and built to rent.
Whatever their tenure, all of Silvertown’s new homes will be prefabricated, their components created on-site in the purpose-built new factory. This process will be faster than regular housebuilding, and roughly 20 per cent cheaper.
This saving will not be passed on to buyers, as pricing will be based on local values. However, Olaide Oboh promises other benefits. “We want to deliver 100 per cent snag-free homes.
"Don’t think about the old idea of a prefabricated home, built like a cross between a shed and a bungalow. Prefabricated homes are now a sophisticated and universally used way of providing beautiful and well-designed, long-lasting homes. We are going to make this area look beautiful.”
On the water: sport and leisure will be in the mix at the docks’ new town
The partnership is working with a seriously impressive 20-strong design team of internationally recognised architects including David Adjaye, David Chipperfield, Rem Koolhaas, Richard Rogers and AHMM, which designed the Saatchi Gallery. The first detailed designs will be revealed next year.
AMBITIOUS PLANS
Award-winning practice Stanton Williams has drawn up the plans for the new Silvertown Bridge, a wide concrete boardwalk curving across Royal Victoria Dock, with an opening section to allow boats and barges to sail below.
The other ambitious promise made by the Silvertown Partnership is that it will not create a town just for people who work in the City and Canary Wharf but cannot afford to live there, but a self-sufficient urban town.
As well as independent shops, cafés, bars and restaurants, Roundhouse, based in Camden Town, is planning to open up in Silvertown.
How cool is that?: Roundhouse plans a music/education venue in Silvertown
Like its north London counterpart Roundhouse East will be a music venue and education space.
Silvertown will also have a new school, a health centre, and there’ll be plenty of job creation — both during the construction and also in the new businesses that will be able to take space at the site.
The drawback is that the project will take “at least 20 years” to complete, and residents will have to live through the building process. And its proximity to London City airport means flight path noise is inevitable: some homes will need quadruple soundproofing.
The bright side is the convenience of having an international airport just half a mile away, says Olaide Oboh, while plane takeoff paths will ensure there are no high-rise buildings at Silvertown.
“Millennium Mills is our tallest building at 12 storeys,” she says. “We are going to show you can do high-density housing without having to go high rise.”
WHAT YOU CAN BUY NOW
£500,000: a two-bedroom flat at the Barrier Point Road scheme in E16. Purple Bricks (0121 396 0867)
Homes close to London’s major regeneration zones have historically tended to outperform in terms of property price growth.
So buyers keen to get in on the ground and reap the benefits of Silvertown right now could buy a two-bedroom purpose-built flat close to the river for about £350,000, or a home with river views for about £550,000.
There are some more glamorous townhouses to be had south of North Woolwich Road — but don’t expect bargains. |
Modi held bilateral talks with Trump, discussed trade and relations | Modi and Trump held a meeting on Monday 13th November, addressing terrorism and trade at this year's ASEAN Summit. Trump commended Modi on India's "astounding growth", and opportunities for its expanding middle class. Although trade was at the top of their discussion, Modi added: "We are working for future interests of Asia and humanity".
| http://www.ibtimes.co.in/asean-summit-pm-modi-meets-donald-trump-says-us-india-working-asias-future-749223 | 2017-11-13 17:00:57.790000 | Prime Minister Narendra Modi met US President Donald Trump on Monday afternoon on the sidelines of the the Association of Southeast Asian Nations (ASEAN) Summit in Manila in the Philippines.
The leaders held bilateral talks with terrorism and trade being at the top of their agenda of discussion.
Modi, at a press conference with Trump, said the relations between India and the United States are growing.
"Relations between India and US are growing. Our relations go beyond, we are working for future interests of Asia and humanity," Modi said.
#WATCH: Prime Minister Narendra Modi meets US President Donald Trump in Manila, holds bilateral talks #Philippines pic.twitter.com/aW6dlkgfwe — ANI (@ANI) November 13, 2017
Modi reached Manila on Sunday to attend the 15th ASEAN-India summit and the 12th East Asia summit on November 14. He was accompanied by National Security Advisor Ajit Doval, Foreign Secretary S Jaishankar and a few other top diplomatic and security officials.
ASEAN Summit: PM Narendra Modi holds bilateral talks with US President Donald Trump in Manila, Philippines pic.twitter.com/BSGjLhpLI1 — ANI (@ANI) November 13, 2017
The bilateral meeting comes just three days after the US President commended India and Modi for the country's "astounding growth". He made the statement on the sidelines of the Asia-Pacific Economic Cooperation summit in Vietnam on Friday.
"Since India opened its economy, it has achieved astounding growth and is a new world of opportunity for its expanding middle class," Trump had said.
"Prime Minister Narendra Modi has been working to bring that vast country and all of its people together as one, and he's working at it very, very successfully, indeed," he added. |
Arrival of car rental counter at Goa airport sparks protest | The families of 350 taxi drivers demonstrated at Dabolim Airport, Goa, against the arrival of a car rental counter. The drivers claim that the the Ministry of Tourism, has bypassed the state government and Department of Transport - and insist no permission has been granted by these bodies. The counter has been shut down until the issue has been resolved.
| http://www.navhindtimes.in/taxi-operators-protest-with-families-opening-of-airport-car-rental-counter/ | 2017-11-13 15:58:21.873000 | VASCO: The yellow black taxi cab operators under the banner of United Taximen Union on Wednesday opposed the car rental counter by bringing their families to the Dabolim airport to protest.
The family members of 350 yellow black cab operators protested the move of the Airport Authority of India to open the car rental counter which they claim to be approved by the Ministry of Tourism, Government of India.
Speaking to reporters during the protest, UTU president Sanjay Naik said that the Airport Authority of India bypassed the state government by opening the car rental service counter at Dabolim airport. “We have heard from the four legislators of Mormugao taluka that there was no permission granted by the state government or by the department of transport to open the car rental counter at Dabolim airport”.
“We therefore urge Chief Minister Manohar Parrikar to intervene in the matter and give justice to the families of the yellow black taxi cab operators who are operating at Dabolim airport for the last four decades”, said Naik.
When contacted airport director Bhupesh Chand Hans Negi was not available for his reaction on the car rental counter.
Meanwhile, the Minister for Panchayat Mauvin Godinho on Wednesday said that he had discussed the matter pertaining to the opening of a new car rental service counter with the Minister for Transport Ramakrishna Dhavalikar. Godinho said that the Transport Minister has claimed that no permission has been obtained or issued from the transport department or by any agency to commission the taxi counter at Dabolim airport.
Godinho disclosed that there are no legal standings with the opening of the car rental counter and there was no consultation with the state government on the matter. “I have directed the airport director to shut the car rental service counter till the issue is sorted out”, said Godinho
“The state government will take a decision in consultation with the concerned minister and local legislators, whether the new taxi counter could be functional within the framework of law by legally examining the matter”, added Godinho. |
Estate agents sitting on 'goldmine' of consumer data | UK estate agents are unaware of the value the data they collect holds, according to an op-ed on propertyindustryeye.com. Estate agents who don't fully capture all information about a lead are wasting "tens of thousands of pounds worth of data", wrote columnist Paul Smith. In the future, estate agents making the most of the information in their databases could offer an all-in-one service to people moving house, he said, and warned against handing data over to online portals.
| http://www.propertyindustryeye.com/the-paul-smith-column-whats-your-data-goldmine-worth/ | 2017-11-13 15:04:42.660000 | Post navigation
Estate agents are sitting on a data goldmine worth an absolute fortune – yet most won’t be aware of the value of the information they collect.
Recently, I was offered the email data for 5m UK addresses – but it came with a hefty half a million pound price tag!
So how much is your database worth? And how are you going to monitor it?
We are at the start of the data ecosystem, since people come to us and give us their contact details.
But what information do you store (with their permission and complying with data protection regulations)? And once you’ve got it, what do you do with it?
I’m told many agents are dropping up to a fifth of all leads from portals because they are not correctly capturing data from prospective customers!
It’s often been said that data is king – it is in fact the new gold rush.
But how do you create value once you have got that database? How regularly do you contact people on your database and ask if they are still looking for a property or wish to receive information?
Do you even have a contact strategy and how often do you clean up the data to ensure it is accurate?
With so many different ways to keep in touch, what’s your email strategy, your text strategy, your social media strategy, your video strategy?
If you were to calculate the cost of a lead, you may find you are wasting tens of thousands of pounds worth of data if you don’t capture the information fully.
I know the cost of every lead we register, based on how we have gathered that information. I know it’s a lot cheaper to have an email address than it is to gain a prospect through newspaper advertising or direct mail.
Many agents just don’t realise how valuable their database is – and should be included in any valuation when selling your business. If you buy a business without a database, what are you actually buying?
We even use advanced propensity modelling on our data, combining it with other data sets, to establish how likely a person is to move. It’s an extremely successful way of obtaining new leads.
Looking to the future, people will be going to their local estate agent for the full moving package, including white goods and carpets or finding a plumber, so the value of that database is going to be huge.
Are we going to give it up to other parties like portals, just like we’ve done with our stock?
We’ve got an opportunity now to gain the upper hand by registering everyone who comes through our physical or virtual door.
Let’s ensure that when they are knocking, we do let them in – and then provide them with the right information that will ensure they are customers for many years to come.
What does the future of estate agency look like?
When you reflect on the incredible changes that have taken place in estate agency over the past 20 years, you can’t help wonder what the next two decades will be like.
The digital world has transformed all our businesses – whether it’s promoting our properties on our own websites or portals, or using social media or email to communicate, or even using digital screens on our shopfronts or using mobile phones and tablets to take photos and videos.
It’s hard to imagine what the next wave of technology will do for our businesses and whether the public will embrace it in a way that makes it cost effective for us to implement. Take, for example, virtual reality headsets.
Will genuine prospective purchasers really want to sit in their living rooms and take a virtual tour through someone else’s property – or will they want to see the local neighbourhood for themselves, hear the railway line at the end of the garden or enjoy the view?
Surely it will always be important to get people to a property to see it for themselves – one of the reasons that open house days remain so popular.
What better way is there for local agents to meet people in the flesh who are interested in buying – and potentially selling their own properties?
That’s not to say that new digital technologies won’t work or gain support.
There will be agents who specialise in certain forms of technology, encouraging visitors to stick around on their websites by using games or augmented reality, enabling people to see what a property would look like with different furniture, colour schemes or appliances – and then offering those items for sale.
Imagine if you can completely gut a home and add in a new kitchen and bi-fold doors – and see the associated costs in the process. Then buy them through your website!
It’s a concept I trialled 20 years ago – the total moving experience (TMX), but it was ahead of its time!
That time is here. Amazon may have started with books – but now look what they sell. Almost everything. They’ve already teased that they may start to sell property. That could land us all in trouble if it proves to be true.
Future generations will be completely tech savvy. They will expect far more from their agents. Will those agents who don’t embrace digital change be here in 20 years’ time? I somehow doubt it, don’t you?
Chancellor needs to address Stamp Duty concerns
Speculation is mounting that the Chancellor, Philip Hammond, will cut Stamp Duty for first-time buyers in the Autumn Budget. It’s critical he heeds calls from us all to go through with this.
As house prices have continued to rise, with the average cost of a home now £11,000 more than it was this time last year, so has unaffordability.
Stamp Duty is holding back a whole generation of young people already struggling to save for a deposit, and it is time to bring this injustice to an end.
The recent interest rate rise could mean a further surge, as buyers fight over limited stock in the run-up to Christmas, and look to lock down a cheap fixed rate mortgage before the new rate makes home-buying even harder .
For hard-working individuals who have to borrow for the basic cost of living, saving for both Stamp Duty and a deposit to own their own home is a far-flung reality, especially as our branch data shows first-time buyer deposits are up 6% on the month, outpacing inflation.
We’ve also seen a 68% drop in the number of investors wanting buy-to-let properties, as the Government has taxed them into oblivion.
Hammond needs to see that the landlord is not the enemy and savvy investors are realising they are getting better returns on the stock market, so share prices are on the up – and we’ll have another crash!
Which incidentally would make the heavily indebted Countrywide and other listed agents ‘bust’ businesses!
Come on, Chancellor, address these concerns – or the housing crisis will continue to worsen. |
The ultra-thin glass market will be worth estimated $17bn by 2022 | The ultra-thing glass sector will be worth $16.99bn by 2022 thanks to demand from the consumer electronics industry, according to a forecast by MarketsandMarkets. The market is predicted to be worth $9.73bn this year alone, as high sensitivity and electrical conductivity make the glass suitable for applications such as smartphones and wearables. Key industry players include Japan's Asahi Glass, Chinese firm CSG Holding and US company Corning.
| https://www.wallstreet-online.de/nachricht/10057083-ultra-thin-glass-market-worth-16-99-billion-usd-by-2022 | 2017-11-13 14:52:23.763000 | The report "Ultra-Thin Glass Market by Manufacturing Process (Fusion, Float), Thickness (<0.1mm, 0.1-0.5mm, 0.5 - 1.0mm, 1.0 - 1.2mm), Application (Semiconductor Substrate, Touch Panel Displays, Fingerprint Sensors), End-Use Industry, Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is estimated to be USD 9.73 Billion in 2017 and is projected to reach USD 16.99 Billion by 2022, at a CAGR of 11.8% from 2017 to 2022. The growth of this market can be attributed to the increasing demand for ultra-thin glass from the consumer electronics industry.
Browse 102 Market Data Tables and 55 Figures spread through 161 Pages and in-depth TOC on "Ultra-Thin Glass Market"
http://www.marketsandmarkets.com/Market-Reports/ultra-thin-glass-market-40947094.html
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Based on application, the touch panel displays segment is projected to lead the Ultra-Thin Glass Market during the forecast period
The touch panel displays segment led the Ultra-Thin Glass Market in 2016. The growth of this segment can be attributed to the increasing use of ultra-thin glass in consumer electronics. Features such as high electrical conductivity and sensitivity of ultra-thin glass make it preferable to be used for display and sensor applications.
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Based on end-use industry, the consumer electronics segment is projected to lead the Ultra-Thin Glass Market during the forecast period
The consumer electronics segment led the Ultra-Thin Glass Market in 2016 and is expected to lead in the coming years. The growth of the consumer electronics segment can be attributed to the increasing use of ultra-thin glass in various applications, such as smartphones, wearable devices, notebook, and TVs.
Asia Pacific is the largest market for ultra-thin glass
The Asia Pacific region led the Ultra-Thin Glass Market in 2016, and is expected to continue its dominance in the near future. Increasing e-commerce activities is fueling the growth of ultra-thin glass in Asia Pacific. The high demand for this glass from the consumer electronics industry in countries, such as China and Taiwan, are key factors driving the growth of Ultra-Thin Glass Market in the Asia Pacific region.
Key players operating in the Ultra-Thin Glass Market are Corning (US), Asahi Glass (Japan), Nippon Electric Glass (Japan), CSG Holding (China), SCHOTT (Germany), Nippon Sheet Glass (Japan), Central Glass (Japan), Xinyi Glass (China), Nittobo (Japan), Luoyang Glass (China), Changzhou Almaden (China), Air-Craftglass (Netherlands), Emerge Glass (India), AviationGlass & Technology (Netherlands), AEON Industries (China), Suzhou Huadong Coating Glass (China), Taiwan Glass (Taiwan), China National Building Materials (China), Hilgenberg (Germany), Noval Glass (China), HOYA USA (US), and AvanStrate (Japan).
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Flat Glass Market by Technology (Float, Rolled, Sheet), Product Type (Simple Float Glass, Toughened, Coated, Laminated, Extra Clear), End-Use Industry (Construction & Infrastructure, Automotive & Transportation, Solar Energy) and Region - Global Forecast to 2022
http://www.marketsandmarkets.com/Market-Reports/flat-glass-market-187897592.html
Laminated Glass Market by Interlayers (Polyvinyl Butyral, Ionoplast Polymer), End-Use Industry (Building & Construction, Automotive), and Region - Global Forecast to 2022
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Bosch generates €1bn from agtech sales | US manufacturer Bosch has made €1bn ($1.18bn) from sales of agricultural technology (agtech) systems, such as sensor and connectivity platforms, as high-tech farming methods are increasingly adopted. Its IoT (Internet of Things) Cloud platform can be used to create "connected farms" where crop data can be monitored remotely and analysed to improve crop yields. The company has also helped to create "smart spraying" systems which use sensors to differentiate between crops and weeds, making the use of pesticides more efficient. | https://www.innovatorsmag.com/smart-farming-is-a-growth-market/ | 2017-11-13 14:32:55.840000 | (GERMANY)
Bosch is making a big impact in the rapidly growing agriculture technology (agtech) industry.
The company has bagged €1 billion in agtech sales, as its sensor and connectivity platforms show themselves to be suited to smart farming – as well as automotive – applications.
“Bosch can do more than cars and cordless screwdrivers. We are bringing high tech to farms, opening up a market worth billions,” explained Dr Markus Heyn, member of the Robert Bosch GmbH board of management.
With a growing global population adding to the mounting pressures being placed on arable land, which is already facing huge threats from climate change, smart farms can be one of the solutions for getting more from less.
Connected farms can harness sensor technologies to provide real-time information, easily accessible via smartphone apps. This improves monitoring capabilities, without the need for physical inspection, in turn leading to better field management and higher yields. The Bosch IoT Cloud also enables machinery to communicate potential problems, allowing for early action to avert expensive and costly repairs.
Bosch is also working with Bayer on ‘smart spraying technology’ that can – in ‘lightning speed’ – tell the difference between crops and weeds – using camera sensors, meaning pesticides only target weeds.
“Smart spraying sustainably clears fields of weeds. This safeguards yields while minimizing environmental impact,” Heyn added.
And this is an important factor, as agriculture leaders need to advance innovations, such as smart spraying tech, that are climate-friendly, to reduce the industry’s carbon footprint.
In September Deere & Company recognised this by moving for precision agriculture startup, Blue River Technology, in a deal worth $305 million. The young American firm uses machine learning and artificial technologies to identify the exact amounts of spray plants and crops require – reducing fertiliser use by up to 90%.
Another interesting proposition, from the Earth Institute at Columbia University, is that an extra 825 million people could be fed by swapping around where crops are grown globally. |
Greece announces smart farming push | The Greek government is investing in smart farming to cut food prices and reduce farming's environmental impact. The move is being supported by the European Commission and makes use of the EU's Copernicus Earth-monitoring system, which provides detailed information on land use in the country that can then be analysed to make agriculture more efficient. The government also hopes smart farming technology will provide new jobs and make Greece's agricultural products more competitive globally.
| https://www.euractiv.com/section/digital/news/greece-vows-to-use-copernicus-to-boost-smart-farming/ | 2017-11-13 14:25:57.423000 | The Greek government aims to use Copernicus, Europe’s earth-monitoring system, to maximise the potential of smart farming, which will help the country ensure its position in the post-crisis era, Greece’s digital policy minister told EURACTIV.com.
Speaking in Thessaloniki at the “Greek farming growth” event organised by Gaia Epixeirein, a consultancy which brings together farmers, the IT and banking sector, Nikos Pappas pointed out now that the country gets out of the bailout programme it has to enhance its digital skills in order to turn the page toward fair and sustainable growth.
“Smart farming can create all the necessary conditions to improve production and the product itself as well as create new jobs in several sectors,” he said, adding that Greek products won’t be competitive in the global market if they continue to be produced the way they do today.
A close ally of Greek premier Alexis Tsipras, Pappas also emphasised the government’s initiative to establish a Space Agency, which will interconnect as a hub with major Greek and international research centres. He also promised that the country would soon have its own micro-satellite system, which will be created exclusively by Greek universities.
“We want the technology of tomorrow, today available for all,” the minister added.
By giving farmers access to cutting-edge digital technology, the European Commission’s grand ambition is to make farming more competitive, reduce its environmental impact, cut food prices and better inform consumers about the food they eat.
Broadband access
But despite the widespread support it enjoys in Brussels, digital farming is struggling to enter the mainstream, hampered by an ageing farming population and patchy broadband coverage in rural areas.
Digital skills and 5G centre stage as precision farming vies to enter mainstream Farmers, digital experts and representatives from the agricultural technology industry joined forces in Brussels on Thursday (12 October) to urge policymakers to bring precision farming into the mainstream in the EU.
“To reap the full benefits of digital farming, the EU needs to devise supportive, coherent and forward-looking policies,” said Richard Markwell, president of the European trade association of the agricultural machinery industry (CEMA).
Broadband infrastructure in Greece’s rural areas is poor and Pappas vowed to put an end to “digital exclusion”. Via the “Rural Broadband Internet” project, which is co-funded by the EU, the government aims to provide remote areas with 50Mbps internet speed.
The European Commission is putting pressure on the member states to improve broadband infrastructure in Europe’s rural areas. But each country and region is responsible for its own timetable for broadband roll-out and therefore nothing more can be done at EU level.
“The fact that we still have white spots in rural areas where no broadband connection exists is unacceptable,” EU Agriculture Commissioner Phil Hogan told EURACTIV in an interview.
Hogan: Data ownership should not weaken farmers’ position Data ownership and access should be organised in such a way that farmers’ competitiveness is improved, EU Agriculture Commissioner Phil Hogan told EURACTIV.com in an exclusive interview.
The role of Copernicus
Speaking on the sidelines of the event, Pappas told EURACTIV that the role of Copernicus would be substantial in the country’s new national strategy.
“The Greek government stands ready to take full advantage of Copernicus to maximise the potential of smart farming and speed up the introduction of new technologies in the farming sector,” he said, citing a number of pilot projects, which have already been launched in the country.
The Copernicus programme is designed to support the implementation and monitoring of European policies, such as the CAP, at national or regional level. It provides indicators such as land take, high nature value farmland, and landscape fragmentation between natural and semi-natural land.
The official cited data collected by the Copernicus Sentinel satellites is provided for free once per week across the EU.
EU mulls incentives for space technologies in farm controls The European Commission is considering new proposals to encourage the use of technologies to monitor farm parcels receiving subsidies from the Common Agricultural Policy (CAP), an EU official told EURACTIV.com.
‘GaiaSense’
A project that uses Copernicus for smart farming purposes is “GaiaSense” developed by Neuropublic IT company.
The GaiaSense project provides smart farming advisory services and uses satellite data to measure critical parameters at parcel level.
Through this, a farmer can be aware of the slightest detail of a parcel, ranging from soil condition to plant vitality, and therefore, be able to make decisions based on real data for a farm.
“It is a lighthouse project showing that the EU Earth Observation service industry is able to capitalise on the public investments of Copernicus and Galileo.
Both programs support SMEs like ours to provide qualitative and low-cost smart farming advisory services to EU farmers by combining scientific knowledge and data coming from Internet of Things infrastructures and EO platforms,” Neuropublic’s Director of R&D Panagiotis Ilias commented.
Read more with EURACTIV |
Paypal launches Money Pools to help people manage shared spending | Paypal users can now join with each other to share costs, using a new Money Pools feature of the service. Customers can contribute funds and track spending on joint activities, using a personalised page, which they can then share on social media or by email. The company is rolling out the feature to 17 countries and said it is not intended to be a crowdfunding platform, as users will not be able to offer rewards or incentives to those contributing pooled funds. | https://www.finextra.com/newsarticle/31321/paypal-launches-money-pools-feature | 2017-11-13 14:25:25.157000 | PayPal has launched a new feature that lets people club together to track and share the costs of spending on group activities or personal goals.
PayPal says that Money Pools is not a crowdfunding platform because it is "not intended to facilitate fundraising for activities such as product development and organizers agree not to offer perks, rewards, or other incentives in return for contributions".
The company is rolling out the service in 17 countries via a new 'Your Pools' link on user accounts.
Customers can personalise the page with details of spending plans and funding timelines and share the link via text, e-mail, Facebook or Twitter. Contribution may be anonymous or posted publicly in the timeline. |
Asean countries band together to foster fintech advances | Financial technology organisations from six Asean countries have formed a network to encourage collaboration and develop the region as a hub for the sector. The Asean Fintech Network joins together organisations from Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. The region has a growing online population but poor access to banking, with 300 million people not having accounts. The new network will work to promote training of the fintech workforce, increase global market access, boost the accessibility of capital and improve availability of new technology.
| https://www.finextra.com/newsarticle/31324/asean-countries-launch-fintech-network | 2017-11-13 14:21:20.783000 | National financial technology organisations from six Asean countries have banded together to form a network designed to foster collaboration and boost the region's position as a fintech hub.
Bodies from Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam make up the Asean Fintech Network.
The Asean region is seen as rife for fintech disruption, with over 620 million people across 10 countries, with a shared GDP of $2.5 trillion and a rapidly growing online population yet low banking penetration - more than 300 million citizens do not have bank accounts.
The network has identified four priorities: training of the fintech workforce; boosting accessibility of investment capital; creating global market access; and deepening the availability of cutting-edge technology.
Singapore Fintech Association president Chia Hock Lai says: "the AFN is a strong platform to promote cross-border collaboration among members and help promote fintech in the region." |
Hydro storage tech could reduce greenhouse gas emissions | Australia could reduce its greenhouse gas emissions by two thirds if can develop just a handful of 22,000 potential sites into pumped hydro facilityes. The UK, which currently has four operational facilities, also has a wealth of similar resources it could tap. The country has hundreds of potential pumped hydro sites which could provide up to 50 GWh if given the green light, said Dave Holmes, managing director of Quarry Battery Company. Pumped hydro, which uses excess energy to pump water uphill to a reservoir, before being released to turn turbines, was first developed in the 1890s.
| https://www.theengineer.co.uk/pumped-hydro-storage/ | 2017-11-13 14:21:12.037000 | In pumped hydro storage there is a tried-and-tested technology that not only fits the bill for future energy needs but has been doing the job for well over a century. Andrew Wade reports
It’s often assumed that to mitigate the worst effects of climate change we need an energy revolution incorporating a raft of new ideas. However, the core technologies needed to decarbonise the power sector already exist in the form of renewables, with wind and solar now the fastest-growing sources of new generation.
One major problem, as critics are quick to point out, is intermittency. If that problem could be solved, the energy sector could be transformed within a few short decades. And, as it happens, several countries are betting that we already have the answer.
The upper reservoir at Glyn Rhonwy, with views across Snowdonia
In pumped hydro storage there is a tried-and-tested technology that not only fits the bill but has been doing the job for well over a century. First employed in the 1890s, pumped hydro makes up 97 per cent of energy storage worldwide, with around 168GW currently installed. Excess off-peak grid power – theoretically from renewables – is used to pump water uphill, where it’s stored as gravitational potential energy. When electricity demand is high, water is released downhill to power turbines, the elevated reservoirs essentially acting as giant batteries to help balance the grid.
Currently, the UK has four operational plants. When the youngest – Dinorwig in Snowdonia – was built over 30 years ago, it was the largest civil engineering contract ever awarded by the government. Today, just up the road in Glyn Rhonwy, a new pumped storage venture is being developed by private company Snowdonia Pumped Hydro (SPH). With 99.9MW of output and 700MWh of storage capacity, it won’t solve the climate change problem singlehanded. However, the process behind its selection also threw up hundreds of other viable UK sites. By exploiting just a handful of these, pumped hydro could be the last missing piece of the UK's clean energy puzzle.
“We basically started with a few databases of lakes, mines, quarries and so on, and we wrote a little algorithm that would compare them, to see how close they were and try and make matches,” explained Dave Holmes, managing director of Quarry Battery Company (QBC), the parent firm behind SPH.
“We got down to maybe 1,000 sites, or potential pairs, and then we cruised around the country on Google Earth having a look at them all and trying to figure out which ones were the best.”
The dual bodies of water ideally need to be similar in size, with a suitable disparity of altitude, or head. As well as identifying sites that were technically desirable, the team had to consider other factors such as planning risk, proximity to the grid and nearby areas of conservation. Glyn Rhonwy’s two disused slate mines ticked a lot of boxes.
“There were a few things in its favour,” said Holmes. “It’s pretty close to the National Grid transmission system. The length of the tunnel that you need in comparison to the head; it’s a very steep site, which means the tunnel we’re building isn’t too long. The gradient is actually quite a challenge. It’s 19 per cent… and we’re looking to go in a single slope all the way to the top.”
The site also happened to be owned by the local council, which had plans to develop the lower reservoir into an industrial estate. Accommodating SHP’s powerhouse would not be a huge departure.
“We see it as recycling the land rather than using some new land for the site,” said Holmes.
Glyn Rhonwy gained approval for a 49.9MW plant several years ago, but changes in the energy market prompted SPH to rethink the design. The revised plan for the 99.9MW facility was greenlit in March 2017. According to Holmes, the only significant change was the inclusion of two 49.9MW turbines instead of the original pair of 24.95MW devices.
Excess electricity is used to create gravitational potential energy
“We found there was more capacity there than we first understood, and it would have been a waste of that capacity to not have a more powerful turbine on it,” he explained.
The National Grid’s capacity mechanism also helped incentivise the change. Despite having 600MWh of storage in the original plans, SPH would have been rewarded only for its 49.9MW output. By doubling that to 99.9MW, the project will double the income it earns via the mechanism. The revised 700MWh capacity will be enough to supply 200,000 homes with electricity for seven hours a day. Although construction costs will increase from £140m to £160m, Holmes believes the payback period on the investment should be halved to under 10 years – a fraction of the plant’s projected 125-year operational lifetime.
“It’s a very exciting time because we can see a light at the end of the tunnel,” he said. “We’re hoping to break ground sometime next year, but it could be early the year after.”
As construction gets under way in Glyn Rhonwy, a pumped hydro plant of an altogether different breed will be nearing completion some 8,000km away. Located just to the north of Beijing, the Fengning Pumped Storage Power Station will have an installed capacity of 3,600MW, making it the largest pumped hydro facility in the world. Its generators will be fed by an upper reservoir holding nearly 49 million cubic metres of water – enough to fill about 19,500 Olympic pools. By comparison, each of Glyn Rhonwy’s reservoirs will hold just over 1 million cubic metres.
The $1.87bn (£1.42bn) Fengning plant will be equipped with 12 x 300MW pump turbines in a single cavern. Ten of these will be fixed-speed units contracted from local suppliers. The final two will be variable-speed pump turbines provided by Andritz, the Austrian engineering giant with a long history in hydro power.
“The major difference is in a completely different generator design,” Alexander Schwab, Andritz SVP of market management, explained to The Engineer. “With conventional synchronous generators, the number of poles and the frequency of the grid are defining the rotational speed of the unit. That defines the design speed of the turbine/pump. Consequently, for pump turbines it is necessary to find a compromise between optimal turbine and optimal pump.”
According to Schwab, the variable turbines will allow operation ranges for pumping and generating to be designed individually. This should enable Fengning to better manage its output and provide more grid flexibility.
Andritz is supplying variable-speed pump turbines for China’s Fengning project
Andritz has previously installed the technology at Germany’s Goldisthal pumped storage facility, but this is the first time variable speed units will be used in China’s ever-expanding hydro sector. “Taking all the facts into consideration, it will be a project needing the utmost attention from the Andritz side,” said Schwab.
When Fengning comes online, China will have three of the four biggest pumped storage facilities in the world. The technology is seen as increasingly vital if the country is to wean itself off the coal that has powered the industrial progress of recent decades. Air pollution across China, particularly around Beijing, has reached such worrying levels that it is no longer simply a public health issue. Speaking recently, the country’s environment protection minister, Li Ganjie, admitted that air quality had become a matter of social stability. Although it remains the world’s biggest polluter, China has committed to reducing CO 2 emissions by 60-65 per cent before 2030. If this is to be achieved, massive expansion of renewables, coupled with pumped storage, will need to play a key role.
Back in the UK, plans are afoot for another major project. While not on the same scale as Fengning, the Coire Glas pumped hydro plant will boast an output of 1,500MW. It will lie to the east of Fort William, in the Great Glen of the Scottish Highlands. Using Loch Lochy as the lower body of water, developer SSE plans to build an upper reservoir 500m above, with a relatively steep incline delivering good energy efficiency.
The project received planning permission several years ago for a smaller 600MW plant but, similarly to Glyn Rhonwy, those plans have had to be scaled up in a bid to make the project more commercially attractive. In May 2017 SSE submitted a scoping report for the revised scheme, and a decision from the Scottish government is expected in the near future. Importantly, Coire Glas will have the capacity to store a massive amount of energy – around 30GWh – more than all existing UK storage capacity combined, according to SSE. The firm says this will help provide the flexibility required for integrating more renewables, as well as the changing usage patterns expected from the growth in electric vehicles.
“SSE considers there to be clear benefits in the delivery of new pumped storage projects in the UK,” Coire Glas project manager Andy Gregory told The Engineer. “It’s a proven technology that can be deployed at the tens of GWh scale, with a short response time and the ability to provide a number of important services to the system.”
Across the UK there are hundreds of potential pumped hydro sites, with the low-hanging fruit adding up to around 50GWh. According to QBC’s Holmes, these are mainly in Scotland and Wales due to topography.
“Our best guess at how much is economic already or will be economic soon is around 50GWh,” he said.
Some of these sites are similar in nature to Glyn Rhonwy and Coire Glas, where dual bodies of fresh water would work in tandem. Other sites, however, are less conventional. QBC has been awarded funding to explore the viability of non-standard sites around the UK, looking at seawater, drinking water and lower-head opportunities.
Seawater, in particular, presents both a unique opportunity as well as unique challenges. Using the sea as the lower ‘reservoir’ unlocks a host of locations that would previously have been overlooked as, in theory, all that’s required is elevated land close to the coast. But seawater brings complications such as fouling and corrosion, and using the open sea can impact on marine life, and have unwanted effects on the coastal profile.
To date, just a single seawater project has been commissioned – Japan’s Okinawa Yanbaru Seawater Pumped Storage Power Station. Built in 1999, it featured a striking octagonal upper reservoir set into the lush coastal vegetation. Instead of steel, the penstock was made of fibre-reinforced plastic to avoid corrosion and barnacle fouling, and the pump turbine included stainless steel to improve seawater resistance. Although widely hailed as an engineering success, the plant was shut down in 2016 as it no longer fitted local power demands.
Despite just one pilot project, seawater pumped storage is being explored in several countries, including the UK. South Australia’s proposed Cultana plant could generate 225MW of electricity with eight hours’ storage. The region already supports renewables, but arid conditions make traditional pumped hydro tricky. Combining existing solar and wind generation with coastal storage plants promises to be an innovative solution.
Elsewhere in Australia the planned Snowy Hydro 2.0 project will look to add pumped storage to the long-established hydro generation already in place. If completed, it will add generation capacity of 2,000MW and a massive 350GWh of storage. This year, a government-backed study by the Australian National University (ANU) into other viable locations identified 22,000 sites, the bulk of which are on the more densely populated east coast. Combined, these could provide around 67,000GWh of storage.
“We need to build only about one or two dozen to support a 100 per cent renewable electricity grid,” Andrew Blakers, a professor of engineering at ANU and one of the report’s authors, said recently.
“Pumped hydro, high-voltage DC interconnectors between the states, wind, batteries and demand management can do the whole job. Not just for electricity, but the whole job for energy: electrifying land transport, electrifying heating and cooling. You can have 75 per
cent cuts in Australia’s greenhouse gas emissions by electrifying nearly everything, and I think this is what’s going to happen over the next 15 to 20 years.”
The UK’s topography may not be as rich as Australia’s in terms of potential sites but there are ample resources to exploit. If tidal lagoons finally get the green light, they could also include a pumped hydro element, as well as help balance the grid via their natural geographic dispersion. And, with wind and solar costs still tumbling, there’s no reason why the UK couldn’t fully decarbonise over the next two decades. The fact that the Aussies are already in the race can only bring added incentive.
For more stories on renewable energy and its application, click here |
Schlumberger expands lab for advanced fluid analysis oil services | Oil services giant Schlumberger has expanded a Texas laboratory dedicated to advanced reservoir rock and fluid analysis. The Houston Reservoir Laboratory uses innovative technologies, including CoreFlow digital rock and fluid analytics and fluid inclusion technologies, to examine oil reservoirs and improve hydrocarbon production and recovery. The 123,000 sq ft unit is also home to Schlumberger's Production Technologies Center of Excellence, which researches, formulates and tests production chemicals. | https://www.oilfieldtechnology.com/digital-oilfield/10112017/schlumberger-launches-advanced-digital-integration-of-rock-and-fluid-analysis-services/ | 2017-11-13 14:21:12.037000 | Schlumberger today inaugurated the newly expanded reservoir rock and fluid analysis laboratory located in Houston, Texas. The state-of-the-art lab enables petrotechnical experts to better leverage physical and digital rock and fluid analysis for comprehensive reservoir characterisation.
The Houston Reservoir Laboratory features a leading portfolio of Schlumberger reservoir characterisation technologies, which span downhole rock and fluid data and sample acquisition through wellsite and lab analysis. Integration of data and insight from field and lab measurements in the DELFI cognitive E&P environment enhances collaboration across exploration and production teams to realise the full potential of all available data and science in optimising oil and gas assets.
“Digital technology is fundamentally changing the way the E&P industry works,” said Hinda Gharbi, president, Reservoir Characterization Group, Schlumberger. “The expansion of the Houston Reservoir Laboratory accelerates our customers’ access to our proprietary technologies, digital models and petrotechnical domain expertise to overcome technical challenges across the life of the field.”
The 123 000 ft2 facility is staffed by scientists, engineers and technicians working across the spectrum of reservoir rock and fluid analysis. They employ innovative technologies for characterising the reservoir to improve hydrocarbon production and recovery, including Maze microfluidic SARA analysis, unique Fluid Inclusion Technologies (FIT), Malcom interactive fluid characterisation software and CoreFlow digital rock and fluid analytics services.
As part of the Schlumberger global network of rock and fluids analysis laboratories, the Houston lab also houses the Schlumberger Production Technologies Center of Excellence for conducting research, formulation and testing of production chemicals. |
75% of IoT projects are failing due to lack of interconnectivity | A lack of interconnectivity is to blame for the failure of 75% of all Internet of Things (IoT) projects, according to the chief technology officer of Cisco's Australian division. Kevin Bloch said too many IoT solutions are being designed only to solve one particular problem, resulting in multiple systems with different protocols which do not work together and generate more complexity. He also highlighted the problem of poor cyber security, often resulting from start-ups with no experience of developing secure systems.
| http://www.zdnet.com/article/cisco-most-iot-projects-are-failing-due-to-lack-of-experience-and-security/#ftag=RSSbaffb68 | 2017-11-13 14:04:10.923000 | Three quarters of all Internet of Things (IoT) projects are "failing", according to Cisco's Australian CTO Kevin Bloch, primarily because they have been designed to solve individual problems, and have become siloed and unsupported as a result.
"The inaugural phase of IoT is characterised by numerous point solutions from a multitude of new -- often startup -- vendors. Typically, these solutions have been designed to solve a particular societal problem such as lighting or parking. In each case, a complete IT stack needs to be built in support of the solution," Bloch explained.
"Eventually, customers find themselves with multiple siloes from multiple vendors that don't interoperate, are not cybersecure, use different protocols, and generate more complexity at greater cost."
According to Bloch, this is why Cisco is constructing an "IoT Phase 2" foundation, which consists of a platform that is able to cope with multiple different sensors, vendors, applications, and data interchanges.
The CTO added that IoT projects are also failing due to a lack of cybersecurity, qualified skills by those running them, project definition, governance, and support.
Released alongside nine other axioms on the IoT landscape, Bloch said Cisco hopes to aid other companies in launching successful connected solutions by discussing both pitfalls and successes.
The lack of cybersecurity made up a second of his axioms, with Bloch saying that if something is not secured, it should not be connected.
"Cybersecurity crime is already at an all-time high and negatively impacting global economies by upwards of 1 percent of GDP," he said.
"We are becoming more mobile, we are using more cloud services, and we are expanding IoT deployment to tens of billions of connected things, thereby expanding exploitation and attack opportunities. Our situation will inevitably get worse if we don't take the right precautions.
"If you don't secure it, don't connect it."
Again, Bloch said that most of the new IoT solutions being brought to market are being developed by companies or startups without any experience -- including experience in security.
As a result, he said Cisco is continuing to invest billions of dollars into cybersecurity solutions for IoT, mobility, and cloud. One such product was Cisco's IoT Threat Defense solution launched in June in an effort to mitigate and solve common security issues threatening the deployment and operation of connected devices, with the networking giant at the time saying many vendors and companies strip security mechanisms out of devices in order to keep them at low cost.
Cisco IoT CTO Shaun Cooley in June explained that as many devices also don't have the power to protect themselves, network-side security must be emphasised, along with improving processors, enforcing the better labelling of devices, and requiring a notification and approval process prior to allowing connectivity.
The IoT Threat Defense suite is also enabled by Cisco's network intuitive, which combines the technologies Cisco has been working towards for the past few years: Software-defined networking, software-defined access, network function virtualisation, APIs, and intelligent WAN capabilities.
A third axiom saw Bloch argue that IoT is about collecting data and about the data itself -- not about connecting things, with Cisco predicting that connections will cost nothing within a decade.
Under this axiom, Bloch said there are two main components needed to be able to "measure" the physical world and enable automation: Sensing via a camera, sensor, or processor; and connectivity, or the transferring of data measurements to a computer.
"Sensing and connectivity provide data that enable a product to externalise its capabilities and provide a range of new opportunities and services," he explained.
Another of Bloch's IoT axioms argued that the key is having the right data, knowing what to ask of the data, and knowing how to find the answers -- with the CTO correlating this to another assumption: That by 2025, 40 percent of all data will never make it to the cloud.
"While amassing data may seem important, the critical question to ask is 'what do you need the data for?'" he said.
"Most organisations already have more data than they can manage, yet most often don't have the right data. If they did, would they know what to ask of the data? If they are able to formulate the problem, how would they go about finding the answers needed within the data?"
The key for organisations is finding the answers to those three questions by utilising a combination of compute, artificial intelligence, and machine learning, he argued.
Cisco has been focused on providing IoT solutions globally, in June announcing its Kinetic IoT operations platform with a focus on managing connections, "fog" computing, and the delivery of data, which "streamlines the capability of companies bringing their IoT initiatives to market".
"It's really a platform for getting data off of your devices," Cisco SVP and GM of IoT and Applications Rowan Trollope said at the time, adding that it will complement Cisco's Jasper IoT platform.
"We're extending from the edge all the way onto the device to provide an amazing platform to get way more data."
According to Trollope, trillions of terabytes of data is "locked up" on unconnected devices across the world, which Cisco Kinetic could help extract. It will also speed up the time between proof of concept and implementation for customers.
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Bosch partners with SwarmFarm for autonomous farming robots | After agreeing a partnership with engineering firm Bosch, Australian tech firm SwarmFarm expects to see its autonomous farming SwarmBot platform ready for commercial roll out next year. The start-up, which has a development team based on a farm in Central Queensland, aims to help farmers adopt new farming systems, including the use of intelligent mobile robots to automate select tasks. Its SwapNostics system is aimed at making the technology simple, so farmers can diagnose and fix machines themselves, keeping the technology working. | http://www.therural.com.au/story/5042502/farm-robots-for-sale-next-year/ | 2017-11-13 14:03:49.603000 | Jocelyn Bate, co-founder and director of SwarmFarm said while the partnership would move them to the next level, they would retain the advantage of the development team being based on-farm in Central Queensland. |
Poorly-written old code puts corporates at risk from hackers | The financial sector is most at risk from hackers thanks to outdated and poorly-written code, according to research by software company CAST. Using a Common Weakness Enumeration benchmark, researchers identified 1.3 million weaknesses; Microsoft's .NET framework and Java were cited as the worst codes. The telecoms and IT consulting sectors were rated the second and third most at-risk industries. Dr Bill Curtis, chief scientist at CAST, said: "Without a clear understanding of existing application security vulnerabilities, organisations are not addressing some of the biggest software risks".
| https://news.sky.com/story/sloppy-old-code-leaves-banks-at-risk-to-hackers-11124699 | 2017-11-13 14:00:35.133000 | Old and sloppily written code is exposing businesses to hackers, new research has warned, with the financial sector at the highest risk.
After reviewing more than 278 million lines of code in 1,388 applications worldwide, researchers have found 1.3 million weaknesses which could allow hackers to take advantage of corporate systems.
Research by software company CAST found that financial services institutions had the worst code, according to a benchmark called the Common Weakness Enumeration (CWE).
CWE is a repository of known security weaknesses hackers could take advantage of and covers software architecture as well as the code itself.
Software in the financial sector has the most coding mistakes and non-secure coding practices for every thousand lines of code in its applications - its CWE density.
The report said: "Applications installed in 2012 are more than due for a health check. Applications between five and 10 years old have the greatest potential for security flaws."
It added: "Poor coding is likely due to the fact 37% of developers are not graded on code quality."
Dr Bill Curtis, the chief scientist at CAST, said: "We found that overall, organisations are taking application security quite seriously. However, there are clear outliers to this broad finding that put companies and their customers at significant risk."
He added: "Without a clear understanding of existing application security vulnerabilities, organisations are not addressing some of the biggest software risks that pose a threat to their business."
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The telecommunications sector also performed poorly compared to other areas of industry. Also ranking quite high for errors was the IT consulting sector.
Some of the worst code was written with Microsoft's .NET framework, although applications developed in Java that were released more than six times per year had the very highest CWE densities.
The manufacturing, energy, and pharmaceuticals sector had the least vulnerable code. |
Fixflo celebrates history of collaboration with Qube | UK property repair and maintenance company Fixflo has marked its three-year partnership with Qube Global Software. In a blog post, Fixflo cited the two firms' shared history, which led to Fixflo integrating its services into the Qube PM product. Qube has more than 10,000 international users, with almost one third having used its services for a decade or more.
| https://blog.fixflo.com/fixflo-integrations-introducing-qube-global-software?utm_campaign=Blogs&utm_content=62968110&utm_medium=social&utm_source=twitter | 2017-11-13 13:50:23.497000 | Continuing our ongoing series, in which we celebrate the amazing proptech proponents that are now integrated with Fixflo, we are proud to announce our new partnership with MRI QUBE Software.
Fixflo & MRI Qube Software: a history
MRI Qube Global Software is one of the world's biggest suppliers of property management software. With more than 10,000 international users, it has a strong track record of inspiring loyalty amongst its customers. Over 30% of MRI Qube customers have used the service for a decade or more, demonstrating both its quality and ease of use. The software’s key features include 24/7 self service, streamlined data management and powerful accounting capabilities.
Fixflo first partnered with MRI Qube Software in 2014, initially integrating with the MRI Qube SLM (Sales, Lettings and Management) product before adding our services to the business's MRI Qube PM product, which focuses on block management. This latest integration allowed MRI Qube to include Fixflo's seamless repair reporting software within its systems, meaning the software can now provide a more rounded and comprehensive offering to its customers.
We were delighted to partner up with MRI Qube Software in 2014, and three years down the line, that delight hasn't abated. Both of groups are dedicated to improving the way in which property managers work on a daily basis, as well as improving the lives of tenants throughout the UK. We're more than confident that, moving forward, our professional relationship will continue to bring a level of service to our mutual clients that is better than that provided by any other platform on the market.
Click here to find about more about our property management software integration |
Record levels of fossil fuels burned in 2017 | An estimated 37bn tonnes of carbon dioxide will be emitted globally by burning fossil fuels this year, the highest total ever, according to the 12th annual Global Carbon Budget, published on Monday. The 2% increase in emissions follows three years during which they remained static. The main reason for the increase is an anticipated 3.5% growth in emissions from China, the world’s leading polluter. It is unclear whether the increase is a blip or part of a trend. In order to keep global warming below the dangerous 2C limit, emissions must begin to fall quickly after 2020. | https://www.theguardian.com/environment/2017/nov/13/fossil-fuel-burning-set-to-hit-record-high-in-2017-scientists-warn | 2017-11-13 13:05:10.527000 | The burning of fossil fuels around the world is set to hit a record high in 2017, climate scientists have warned, following three years of flat growth that raised hopes that a peak in global emissions had been reached.
The expected jump in the carbon emissions that drive global warming is a “giant leap backwards for humankind”, according to some scientists. However, other experts said they were not alarmed, saying fluctuations in emissions are to be expected and that big polluters such as China are acting to cut emissions.
Global emissions need to reach their peak by 2020 and then start falling quickly in order to have a realistic chance of keeping global warming below the 2C danger limit, according to leading scientists. Whether the anticipated increase in CO2 emissions in 2017 is just a blip that is followed by a falling trend, or is the start of a worrying upward trend, remains to be seen.
Much will depend on the fast implementation of the global climate deal sealed in Paris in 2015 and this is the focus of the UN summit of the world’s countries in Bonn, Germany this week. The nations must make significant progress in turning the aspirations of the Paris deal into reality, as the action pledged to date would see at least 3C of warming and increasing extreme weather impacts around the world.
The 12th annual Global Carbon Budget report published on Monday is produced by 76 of the world’s leading emissions experts from 57 research institutions and estimates that global carbon emissions from fossil fuels will have risen by 2% by the end of 2017, a significant rise.
“Global CO2 emissions appear to be going up strongly once again after a three-year stable period. This is very disappointing,” said Prof Corinne Le Quéré, director of the Tyndall Centre for Climate Change Research at the UK’s University of East Anglia and who led the new research. “The urgency for reducing emissions means they should really be already decreasing now.”
“There was a big push to sign the Paris agreement on climate change but there is a feeling that not very much has happened since, a bit of slackening,” she said. “What happens after 2017 is very open and depends on how much effort countries are going to make. It is time to take really seriously the implementation of the Paris agreement.” She said the hurricanes and floods seen in 2017 were “a window into the future”.
The new analysis is based on the available energy use data for 2017 and projections for the latter part of the year. It estimates that 37bn tonnes of CO2 will be emitted from burning fossil fuels, the highest total ever.
The main reason for the rise is an expected 3.5% increase in emissions in China, the world’s biggest polluter, where low rains have reduced low-carbon hydroelectric output and industrial activity has increased. India’s rise in emissions was modest compared to previous years at 2%, while the US and EU are both on track for small falls.
2017 is likely to be the hottest year ever recorded in which there was no El Niño event, a natural global cycle that temporarily nudges up global temperature. The concentration of CO2 in the atmosphere also saw a record jump in 2016, and other greenhouse gases such as methane and nitrous oxide from agriculture and industry are also rising.
“The news that emissions are rising after the three-year hiatus is a giant leap backwards for humankind,” said Amy Luers, executive director of Future Earth, a global research initiative. “Pushing the Earth closer to tipping points is deeply concerning. Emissions need to peak soon and approach zero by 2050.”
However, climate economist Prof Nicholas Stern, at the UK’s London School of Economics, said: “I would not be alarmed. There will be some fluctuations, for example around poor rains and hydro. We should also remember that the methods used to calculate emissions will have their own errors.”
He said there is strong climate action in China: “It has a very clear strategy, particularly on coal and energy efficiency and they are getting, and will get, results.” But Stern said it remains vital that all countries ramp up the ambition of their emissions pledges and that richer countries support action across the world.
Climate scientist Prof Michael Mann, at Penn State University in the US, said the research was authoritative but also urged caution, noting that the 2% projected rise in emissions is small relative to the overall uncertainties in the data. “It seems to me they are over-interpreting the 2017 numbers and jumping the gun a bit. Can’t we wait until the actual numbers are in to do a post-mortem?”
The ability to monitor emissions quickly and accurately is of growing importance. The Paris agreement is based on voluntary cuts by nations, and without verification that pledges have been fulfilled, the trust that underpins the deal could be eroded. “This puts immense pressure on the scientific community to develop methods that can truly verify changes in emissions,” said Le Quéré. |
Visa sets up unit to spread contactless transit payments globally | Visa plans to offer its successful contactless payments systems to transport authorities around the world, following the popularity of the scheme in London. The card company has brought together a team of specialists to offer consulting services as part of a global transit programme, and has developed a Mass Transit Transaction back-office framework to facilitate contactless payments, regardless of an operator's size or fare system. In a recent report, Visa revealed transit agencies spent 4.2 cents for every digital dollar, compared with 14.5 cents for every physical dollar.
| https://www.finextra.com/newsarticle/31323/visa-bids-to-bring-contactless-transit-payments-to-the-world | 2017-11-13 12:59:16.670000 | Visa is looking to accelerate the adoption of contactless payments on the world's subway, rail and bus networks through the launch of a dedicated transit programme.
Contactless ticketing has proved a huge hit in London, where 40% of pay-as-you-go journeys on the tube and buses are now made using tap and pay cards or mobile devices. New York recently vowed to follow suit in the next few years.
To help other cities looking to make the move, Visa has set up a global transit programme that will offer consulting services from a team of specialists, comprised of a central group in London and regional experts around the world.
The card giant has also created a Mass Transit Transaction model back-office framework to manage contactless payments regardless of transit operators' size or fare structure, and has also expanded its Visa Ready programme to include technologies available to operators.
Visa claims a switch to contactless could result in major benefits for operators. The firm's recent Cashless Cities report found that transit agencies spend an average of 14.5 cents of every physical dollar collected, compared to only 4.2 cents for every digital dollar.
Michael Lemberger, head of products, Visa in Europe, says: "Visa played an important role in partnering with Transport for London (TfL). We are applying the expertise which has led to more than one billion Visa contactless journey on TfL to help mass transit operators around the world move away from cash and tickets to contactless payments on buses and trains." |
Chinese online education forecast to exceed 110 million users | More than 110 million users are forecast to access China's online education services this year, boosting its market value to more than CNY194bn ($29bn), according to a report by Tsinghua University's Xuetangx website. More than 90 million people accessed courses in 2016, a figure that's forecast to rise 20%, the report said. About half of users live in large metropolitan areas such as Beijing, Shanghai and southern Guangdong province, but uptake is predicted to expand in smaller cities, with languages and vocational courses the most popular, the report added. | http://www.chinadaily.com.cn/business/2017-11/13/content_34467047.htm | 2017-11-13 12:52:10.303000 | China's online education market is forecast to reach 194 billion yuan ($29 billion) this year, with the number of active users set to surpass 110 million, according to a report released on Sunday.
More than 90 million people accessed online courses via Chinese platforms last year, and the scale is expected to rise at an annual rate of at least 20 percent, the report suggests.
The survey was conducted by Xuetangx - a website run by Tsinghua University that provides online courses (mostly free) - and iResearch, a consulting firm focusing on internet data. Participants were aged 18 to 30, with 58 percent male and more than 70 percent undergraduates.
The report was based on a survey of 1,440 students who have used Xuetangx services or those of similar platforms during the past year.
It said half the people who access online courses are in large metropolitan areas - mostly Beijing, Shanghai and Guangdong province - although it added that the market is expected to expand to smaller cities.
Courses in languages and vocational skills, such as IT training, management and businesses, are in the greatest demand. The most common reasons for choosing online courses are flexibility, diversity of subject matter and access to well-known teachers, according to the report.
Li Chao, CEO of Xuetangx, said despite the rapid development of online education, traditional education will not be replaced completely because both online and offline learning have their advantages.
"Traditional education triumphs in its face-to-face communication, which makes it easy for teachers to track a student's learning outcome, whereas online education triumphs in its flexibility and convenience," Li said.
He noted a growing acceptance of online education among both users and colleges.
"When online open courses first became available on the internet, no students received credit for attending in their bedrooms. But now some colleges have incorporated online courses into their teaching," Li said.
"Now we are turning individual credit online courses into a degree program." |
AI-powered LinkedIn resume assistant arrives on Word | Microsoft-owned LinkedIn is launching a CV tool called Resume Assistant in Word. The tool, backed by artificial intelligence (AI), uses example CVs from a chosen field to help users tailor their CVs and enables documents to be customised to suit job adverts. Users in need of professional help can access ProFinder for resume writing or interview coaching. Resume Assistant is rolling out to users of English Office 365 in the Office Insiders scheme, and will initially be available in several countries including the US, UK, China and Australia.
| https://www.engadget.com/2017/11/08/microsoft-ai-linkedin-resume-assistant-word/ | 2017-11-13 12:50:58.683000 | We're starting to see more results from Microsoft acquiring LinkedIn last year, like the new employment information features brought over to Outlook.com members. Now the company that build Office is bringing AI to your job search with a new LinkedIn-powered feature in Word called Resume Assistant.
Microsoft claims that more than 80 percent of resumes are updated in Word, which could make this new assistant super useful to a ton of people, many of whom change roles and jobs much faster than in the past. Resume Assistant brings in examples from other people in your chosen field to help you describe your work experience on your own resume. You can also see the most prominent skills from LinkedIn to help you know what terms to include in your resume, kind of like keywords for jobs.
The assistant will also help you customize your resume based on actual job postings, get professional help via LinkedIn's freelance platform, ProFinder, for help with writing resumes, interviewing and career coaching. You'll also be able to tell recruiters on LinkedIn that you're open to a new job without alerting your current bosses from within Word.
These updates are rolling out this week to English Office 365 users in the Office Insiders program. It will be available to those in Australia, Brazil, Canada, China, France, Germany, India, Ireland, Japan, Singapore, South Africa, Spain, New Zealand, the UK and the US first, then to more platforms and markets during the coming months. |
Clothes made with 3D-printed fibre developed to keep wearers cool | A 3D-printed fibre woven into clothes that can cool down wearers has been developed at the University of Maryland College Park. Researchers are working on the new textile, which could act as a personal cooling unit, without any need for an external energy source. They combined boron nitride with polyvinyl alcohol to develop the nanocomposite thread, which is twice as efficient at cooling down wearers as cotton fabrics. The fabric could reduce the need for air-conditioning and so contribute to lowering greenhouse gas emissions. | https://www.3ders.org/articles/20171110-scientists-develop-a-3d-printable-fiber-for-clothes-that-can-cool-you-down.html | 2017-11-13 12:48:09.080000 | Nov 10, 2017 | By Julia
As global temperatures continue to rise, air conditioning becomes much more than a luxury; for many, it’s essential to everyday wellbeing. Yet in addition to its often prohibitive cost, air conditioning remains a key purveyor of greenhouse gas emissions, one of the primary agents linked to climate change. It’s a vicious cycle, and an expensive one at that.
But that could be all about to change: researchers at the University of Maryland College Park (UMCP) are hard at work developing a new textile that could, one day, don as our own personal cooling unit, without the need of any external energy source for power. Recently published in the American Chemical Society’s journal ACS Nano, the study, titled “Three-Dimensional Printed Thermal Regulation Textiles” investigates the potential of 3D printing in manufacturing high-tech fabrics designed to keep you cool.
The UMCP research builds on the growing trend of functionalized clothes seen around the world. Think moisture-wicking workout wear, smell-proof athletic gear, and outfits that block ultraviolet rays via chemical coatings. Despite the rise of such functionalized textiles, however, clothes that help cool us down have been much harder to achieve. Previous attempts have resulted in materials that are too bulky, require lots of energy, or are too high in cost. So, the UMCP team, based out of the University’s Materials Science and Engineering Department, wanted to find a more practical solution.
As outlined in the study, the researchers combined boron nitride, a material known for its excellent heat transferal capabilities, with polyvinyl alcohol. The result was a completely new nanocomposite fiber that can be 3D printed, and woven into different kinds of fabric. Extensive tests that simulated the high-tech material on human skin showed it to be 1.5 times more efficient than pure polyvinyl alcohol at sucking heat away from the body. Compared to cotton fabrics, the UMCP composite is twice as efficient at cooling down the wearer. In other words, clothes made with this 3D printed nano-composite thread could help keep wearers cool and comfortable, reducing the need for traditional air conditioning methods.
Of course, it may be some time before you can start buying personalized cooling sweaters off of store racks. As far as corporate applications go, a published scientific paper is still a ways off from fully-fledged prototypes or ready-to-wear retail. But as our global temperatures continue to soar, you can bet everyone from Nike to Spalding will want a piece of the pie.
The UMCP study was funded jointly by the U.S. Office of Naval Research - Young Investigator Program, the Advanced Research Projects Agency-Energy (ARPA-E), the U.S. Department of Energy, and the China Scholarship Council. Read the abstract in full here.
Posted in 3D Printing Application
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UN urged to speed the outlawing of killer robots, drones | Lobbyists aim to persuade the United Nations to speed up efforts for a pre-emptive ban on the use of killer drones, as the US, China and UK argue for more autonomous combat machines. In August, Tesla CEO Elon Musk and Alphabet DeepMind boss Mustafa Suleyman signed an open letter to the UN calling for a halt to the development of killer drones. Noel Sharkey, chair of the International Committee on Robot Arms Control, said: "The UN moves at iceberg pace and actors with vested interests put obstacles in the path at every turn." | https://www.theguardian.com/science/2017/nov/13/ban-on-killer-robots-urgently-needed-say-scientists | 2017-11-13 12:45:02.213000 | The movie portrays a brutal future. A military firm unveils a tiny drone that hunts and kills with ruthless efficiency. But when the technology falls into the wrong hands, no one is safe. Politicians are cut down in broad daylight. The machines descend on a lecture hall and spot activists, who are swiftly dispatched with an explosive to the head.
The short, disturbing film is the latest attempt by campaigners and concerned scientists to highlight the dangers of developing autonomous weapons that can find, track and fire on targets without human supervision. They warn that a preemptive ban on the technology is urgently needed to prevent terrible new weapons of mass destruction.
Stuart Russell, a leading AI scientist at the University of California in Berkeley, and others will show the film on Monday during an event at the United Nations Convention on Conventional Weapons hosted by the Campaign to Stop Killer Robots. The manufacture and use of autonomous weapons, such as drones, tanks and automated machine guns, would be devastating for human security and freedom, and the window to halt their development is closing fast, Russell warned.
“The technology illustrated in the film is simply an integration of existing capabilities. It is not science fiction. In fact, it is easier to achieve than self-driving cars, which require far higher standards of performance,” Russell said.
The military has been one of the largest funders and adopters of artificial intelligence technology. The computing techniques help robots fly, navigate terrain, and patrol territories under the seas. Hooked up to a camera feed, image recognition algorithms can scan video footage for targets better than a human can. An automated sentry that guards South Korea’s border with the North draws on the technology to spot and track targets up to 4km away.
While military drones have long been flown remotely for surveillance and attacks, autonomous weapons armed with explosives and target recognition systems are now within reach and could locate and strike without deferring to a human controller. Opponents believe that handing machines the power over who lives and dies crosses a clear moral line.
“Pursuing the development of lethal autonomous weapons would drastically reduce international, national, local, and personal security,” Russell said. Scientists used a similar argument to convince presidents Lyndon Johnson and Richard Nixon to renounce the US biological weapons programme and ultimately bring about the Biological Weapons Convention.
Because AI-powered machines are relatively cheap to manufacture, critics fear that autonomous weapons could be mass produced and fall into the hands of rogue nations or terrorists who could use them to suppress populations and wreak havoc, as the movie portrays.
A treaty banning autonomous weapons would prevent large-scale manufacturing of the technology. It would also provide a framework to police nations working on the technology, and the spread of dual-use devices and software such as quadcopters and target recognition algorithms. “Professional codes of ethics should also disallow the development of machines that can decide to kill a human,” Russell said.
In August, more than 100 of the world’s leading robotics and AI pioneers called on the UN to ban the development and use of killer robots. The open letter, signed by Tesla’s chief executive, Elon Musk, and Mustafa Suleyman, the founder of Alphabet’s Deep Mind AI unit, warned that an urgent ban was needed to prevent a “third revolution in warfare”, after gunpowder and nuclear arms. So far, 19 countries have called for a ban, including Argentina, Egypt and Pakistan.
Noel Sharkey, the emeritus professor of AI at Sheffield University and chair of the International Committee on Robot Arms Control, warned about the dangers of autonomous weapons 10 years ago. “The movie made my hair stand on end as it crystallises one possible futuristic outcome from the development of these hi-tech weapons,” he said. “There is an emerging arms race among the hi-tech nations to develop autonomous submarines, fighter jets, battleships and tanks that can find their own targets and apply violent force without the involvement of meaningful human decisions. It will only take one major war to unleash these new weapons with tragic humanitarian consequences and destabilisation of global security.”
Criminals and activists have long relied on masks and disguises to hide their identities, but new computer vision techniques can essentially see through them. Earlier this year, Indian government-funded scientists worked with Cambridge University on an algorithm to identify people who obscured their faces with hats and sunglasses, fake beards and scarves. It remains a hard technical problem, but face recognition is only one way to identify people. “A balaclava does not hide one’s gender or age or ethnicity. And it could easily become the ‘norm’ that the weapons will also attack those deemed to be preventing identification or classification by covering up face and body,” Russell said.
In 2015, the UK government opposed an international ban on killer robots. The Foreign Office said it saw no need for the prohibition as international humanitarian law already regulated the area. “The UK is not developing lethal autonomous weapons systems, and the operation of weapons systems by the UK armed forces will always be under human oversight and control,” a Foreign Office spokesperson said at the time.
But according to the Campaign to Stop Killer Robots, a number of nations, including the US, China, Russia, Israel, South Korea, and the United Kingdom are moving toward systems that would give “greater combat autonomy” to machines.
“The UN moves at iceberg pace and actors with vested interests put obstacles in the path at every turn,” Sharkey said. “But the campaign continues to move forward with massive support from the scientific community. We must succeed because the alternatives are too horrifying.” |
Vodafone digital learning scheme reaches 1.8 million Ghanaians | Telecommunications company Vodafone has revealed its Instant Schools digital learning platform has achieved 1.8 million hits since its launch last year. The portal offers Vodafone users in Ghana unlimited access to learning materials and is part of the firm's wider commitment to promote digital inclusion in the country. Instant Schools has the backing of the Ghana Education Service, and has been deployed in 40 schools in five regions, with more to follow, according to Vodafone.
| https://www.ghanaweb.com/GhanaHomePage/NewsArchive/Vodafone-Instant-Schools-reach-1-8million-hits-599677 | 2017-11-13 12:43:03.377000 | Business News of Sunday, 12 November 2017
Source: Seli Abena Azanku
Vodafone’s digital education platform 'Instant Schools' has reached 1.8 million hits since it was launched a year ago. The online portal, which is part of a strategic approach by the company to promote digital inclusion, is currently creating a revolution across the country.
With a full endorsement from the Ghana Education Service, Instant Schools responds directly to the perennial problem of lack of teaching materials, textbooks, past examination questions and assessment information in many schools across the country.
The initiative is delivering a wide range of basic to advanced learning materials online and gives unlimited access to everyone, from the city to the remote villages.
The Vodafone Ghana Foundation has introduced the platform to over 40 schools in five regions currently; and other schools in the remaining regions are also in line to benefit. It has a zero-rated unique feature, which means all Vodafone users can access it free of charge on the Vodafone Ghana website.
Commenting, on this, Yolanda Cuba, Chief Executive of Vodafone Ghana said:
“This is a landmark achievement and goes to show the power of education as a tool for change.
We are determined to contribute to enhancing the learning experience for students – to give them a smile on their faces - by making learning a memorable experience. We want to be at the forefront of the educational transformation for the present and future generations. It is a commitment we hold dear to our strategy.”
The Instant Schools platform was launched in November last year as part of a commitment by Vodafone to leave noone behind as it strives to entrench its position as the most innovative and creative telecommunications company in Ghana.
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United Therapeutics targets cardiac xenotransplantation | United Therapeutics has unveiled a $24m partnership with the University of Maryland, focused on cardiac xenotransplantation research. The partners will set up a research centre in Baltimore. Xenotransplantation is the practice of transplanting organs between species. The research will focus on transplanting pig hearts into humans; it is hoped that the procedure will eventually prove a viable alternative to current treatment options for end stage organ failure.
| https://futurism.com/initiative-manufacture-human-organs/ | 2017-11-13 12:40:36.937000 | Heart of a Pig
United Therapeutics is set to take a big step forward in its plans to pursue advances in the field of organ transplantation thanks to a new partnership with the University of Maryland. The company has announced a $24 million research partnership that will help the school establish a center specializing in cardiac xenotransplantation research, the first of its kind in the US.
Xenotransplantation refers to the cutting-edge practice of transplanting organs between different species. Organ shortages are already a very real concern, and they could grow more pronounced in the future. If we're able to genetically modify organs from animals, we might be able to better satisfy demand.
The center, which will be constructed in Baltimore, is set to focus on cardiac xenotransplantation. United Therapeutics is also collaborating with the University of Alabama on research pertaining to kidneys, and Columbia-Presbytarian on lung transplants.
"Xenotransplantation offers hope to thousands of patients who are currently waiting for heart transplants and most of them die waiting for the human organs," wrote Muhammad Mansoor Mohiuddin, director of xenoheart transplantation in the Department of Surgery at the University of Maryland School of Medicine, in email correspondence with Futurism. "Xenotransplantation will provide an alternative to the current available treatment options for end stage organ failure."
The partnership will focus on transplanting pig hearts into human bodies. This concept has been the subject of various studies, including a recent project that was centered around cloned pigs, and a Chinese effort that expects to carry out a successful transplant within the next two years.
"This grant thrusts our Transplant Division into an elite group of centers doing cutting-edge xenotransplantation research," said University of Maryland's chair of the Department of Surgery, Dr. Stephen Bartlett, in a press release. "We now can look forward to exponentially expanding our department's current and new xeno initiatives, creating an even greater impact in accelerating our trajectory of discovery and innovation in medicine."
Xenotransplantation Allows for More Organ Donors
Mohiuddin stressed that both the University of Maryland and United Therapeutics are eager to make this procedure a "clinical reality." This isn't a research project intended to push the limits of what might be feasible; it's an effort to establish how cardiac xenotransplantation might be used in a practical context.
To that end, researchers will address some of the most pressing issues that are stopping people in need of organ transplants from being helped. Mohiuddin describes the human immune system's rejection of animal organs as being a "major barrier" that has prevented the success of this method in the past. However, genetic modification is offering up ways to counteract these issues.
"Due to our ability to genetically modify the pigs to make their organs less immunogenic to humans, and the development of novel immunosuppressive drugs, we are able to prevent or delay rejection," explained Mohiuddin. Genetic engineering also makes it possible to remove any viruses that might infect humans after the organ has been transplanted.
In 2016, Mohiuddin led a groundbreaking trial where immunosuppressive drugs were used alongside immunomodulatory antibodies to allow a baboon to support a heart inside its abdomen (with the original heart intact) for a record-breaking 945 days. Now, the challenge is how to build upon those techniques to transplant animal hearts into human patients that can endure for an even greater period of time. |
IBM builds 50-qubit quantum computer | IBM has said it has developed a quantum computer capable of handling 50 quantum bits, or qubits, and is making a 20-qubit system available via the cloud. The breakthrough was announced at the recent Institute of Electrical and Electronics Engineers Industry Summit on the Future of Computing in Washington. Dario Gil, director of artificial intelligence and quantum computing at IBM, said the 50-qubit machine was a "big frickin' deal". However, other researchers counselled caution, and said details of the device had not been published or peer-reviewed.
| https://www.technologyreview.com/s/609451/ibm-raises-the-bar-with-a-50-qubit-quantum-computer/?utm_campaign=Technology+Review&utm_source=facebook.com&utm_medium=social | 2017-11-13 12:36:20.817000 | The announcement does not mean quantum computing is ready for common use. The system IBM has developed is still extremely finicky and challenging to use, as are those being built by others. In both the 50- and the 20-qubit systems, the quantum state is preserved for 90 microseconds—a record for the industry, but still an extremely short period of time.
Nonetheless, 50 qubits is a significant landmark in progress toward practical quantum computers. Other systems built so far have had limited capabilities and could perform only calculations that could also be done on a conventional supercomputer. A 50-qubit machine can do things that are extremely difficult to simulate without quantum technology.
Whereas normal computers store information as either a 1 or a 0, quantum computers exploit two phenomena—entanglement and superposition—to process information differently.
“We are really proud of this; it’s a big frickin’ deal,” Dario Gil, who directs AI and quantum computing at IBM, told MIT Technology Review. Gil made the announcement at the IEEE Industry Summit on the Future of Computing in Washington, D.C., on Friday morning.
IBM has a storied history in quantum computing. The company’s researchers helped create the field of quantum information processing, and it has pursued fundamental research in the area for decades.
It has also been making significant progress toward useful quantum systems, first by making quantum computers accessible through the cloud and developing relevant software tools, and second by showing how even a simple machine can do useful work in fields like chemistry (see “IBM Has Used Its Quantum Computer to Simulate a Molecule—Here’s Why That’s Big News”).
IBM is also announcing an upgrade to its quantum cloud software system today. “We’re at world record pace. But we’ve got to make sure non-physicists can use this,” Gil says.
The announcement should perhaps be treated cautiously, though. Andrew Childs, a professor at the University of Maryland, points out that IBM has not published details of its system in a peer-reviewed journal. “IBM’s team is fantastic and it’s clear they’re serious about this, but without looking at the details it’s hard to comment,” he says. |
Apple News proves important distribution channel for Telegraph | UK newspaper the Telegraph has used Apple News to drive subscription to its premium content. The publisher would not disclose how many subscribers the platform has garnered, but said the Telegraph's Apple News channel gets five million unique users a month and delivers 70 million monthly ad impressions. One in five UK iPhone users say Apple News is their main weekly source of news, the Reuters Digital News Initiative said.
| https://digiday.com/media/telegraph-finds-success-apple-news/?utm_medium=email&utm_campaign=digidaydis&utm_source=uk&utm_content=171113 | 2017-11-13 12:00:54.317000 | Since the Telegraph adapted its paywall model last November, the publisher has become more serious about distributing content to third-party platforms. This is particularly true of Apple News. Since January, Apple News has had the publisher sell ads in Apple News in the U.K.
The Telegraph selects the stories it publishes to Apple News. Since April, it has been using Apple News to drive subscriptions to the 20 percent of its content that is premium. The publisher wouldn’t disclose how many subscribers Apple News has driven. The Telegraph’s Apple News channel gets 5 million unique monthly visitors and delivers 70 million monthly ad impressions, according to the publisher. For comparison, CNN said its Apple News content had 36.5 million unique readers last year.
“Apple News is a channel that consistently and continuously performs well for us,” said Dora Michail, digital managing director for The Telegraph, who joined the publisher in February to manage commercial relationships with platforms.
Apple News, which comes installed on Apple’s iPhones, launched in October 2015 and is still in its infancy. It claims more than 70 million users. One in five U.K. iPhone users considers Apple News as their main weekly source of news, according to Reuters Digital News Initiative.
For the most part, publishers have been pleased with the traffic they get from publishing to Apple News. Not all publishers directly monetize on Apple News, instead sharing an RSS feed of content. Publishers have criticized Apple News for their limited access to user data on the platform, on which Apple has historically kept a tight grip. Facebook, by comparison, has a wealth of user data advertisers can access, so monetization from advertising on Apple News has lagged.
One publisher said the revenue return for the volume of traffic it generates on Apple News is disappointing, and the level of referrals from Apple News to the publisher’s site, where it can more effectively monetize traffic, is less than 0.2 percent. This has led publishers like the Guardian to scale back their partnerships with the platform.
“As a reseller, our relationship with Apple News extends beyond editorial and into commercial; it’s strong on both angles,” said Michail.
Publishers can sell their own inventory on their own Apple News channels and keep 100 percent of the revenue. The Telegraph’s digital sales team of 15 people sells inventory across the network within Apple News, like in the For You section, a personalized feed of news based on a user’s habits; The Telegraph wouldn’t share what cut of revenue it takes from these sales. Apple has previously said it will keep 50 percent of revenue if a publisher opts for Apple to sell its inventory as part of a network buy.
Vodafone and Turkish Airlines are two brands that have advertised on Apple News, which offers display, native and video ad formats. More recently, the two brands have launched vertical video campaigns, brokered by The Telegraph. The vertical video ad plays in between news video stories, accessed when a user swipes right from the home screen to the Today View on their iPhone.
Michail said interest from advertisers continues to grow, saying the growth has been “significant.” “We’re making the market; the product has been around for less than a year,” she said. |
Facebook challenges listings sites with Local events app | Facebook's standalone events app has been rebranded Local and could challenge listings companies such as Yelp and Foursquare. Formerly known as Events, Local aggregates Facebook database business pages, reviews and check-ins, as well as events created on the site. Consumers can use the app to view recommended attractions, refer to maps and meet nearby friends.
| http://www.adweek.com/digital/facebook-just-launched-a-stand-alone-app-for-events-that-could-spell-bad-news-for-foursquare-and-yelp/ | 2017-11-13 11:57:34.250000 | Today the social network is rebranding its year-old Events app to be called Local, which pulls in local business information on top of events created in Facebook.
Local aggregates Facebook’s database of 70 million business pages as well as reviews and check-ins. Via the app, consumers can view recommended bars, restaurants and attractions, look at maps and see nearby friends.
“The new app, Facebook Local, helps you easily find what to do, where to go, where to eat, or what you need—all recommended by the people you know and trust,” said Aditya Koolwal, product manager at Facebook in a statement.
With |
Brands to spend almost £6bn on Christmas advertising | The Advertising Association has said brands are on track for the biggest Christmas ad spend ever, predicted to be £5.92bn ($7.77bn) during Q4. The trade association said the figure was a 37% year-on-year increase since 2010, thanks in part to high-quality, heart-tugging ads. "Businesses delivering advertising with emotional resonance can be rewarded with powerful, long-term effects into the new year and beyond," said Karen Fraser, the director of the Advertising Association’s thinktank Credos. Opinion Matters surveyed 1,123 adults on behalf of the Advertising Association of whom 47% said a Christmas ad had moved them to tears. | http://mobilemarketingmagazine.com/christmas-ad-spend-6bn-uk-advertising-association-credos | 2017-11-13 11:45:01.727000 | John Lewis 'Moz the Monster' Christmas ad
Brands are set to spend a record of close to £6bn on Christmas advertising during the final quarter of 2017, representing the most ever spent on ads during the festive period.
According to the Advertising Association, the £5.92bn ad spend would equate to a year-on-year (YoY) increase of 37 per cent since 2010.
“The Christmas season is a time when we see many of the very best, big-budget advertisements appearing in our media,” said Karen Fraser, director of the Advertising Association’s advertising think tank Credos. “As we forecast a record spend from advertisers, many people now see the official start of Christmas as when we hear or see a particular advertisement.”
In a survey of 1,123 UK adults, carried out by Opinion Matters on behalf of the Advertising Association, it was found that 47 per cent of respondents had been moved to tears by a Christmas ad. Furthermore, 33 per cent said that look forward to Christmas ads just as much as they do for any film release, and around 17 per cent have changed plans just to watch the premiere of a Christmas ad.
“Christmas is a key time for advertisers large and small,” said Fraser. “In recent years, marketers of businesses using emotive Christmas advertising have won some of the industry’s biggest awards. Businesses delivering advertising with emotional resonance can be rewarded with powerful, long-term effects into the new year and beyond.”
The link between social media and TV is growing in strength during the period also.
Last year’s Buster the Boxer John Lewis ad became the most shared ad of all-time, generating more than 20m views, and being mentioned more than 30,000 times within two hours of debuting on air.
This year, the retailer will be hoping for similar success with its story of a young boy and his friendship with an imaginary monster, called ‘Moz’, living under his bed.
Elsewhere, Marks and Spencer has drafted in Paddington Bear, Debenhams has a Cinderella story, and Asda’s features a girl and her grandfather visiting a festive food factory, to name a few.
Join us at the 2017 Effective Mobile Marketing Awards Ceremony, taking place in London on Thursday 16 November, to mix with the industry's best and brightest, and raise a glass to the year's best campaigns and solutions. To find out more, and to book your place, click here. |
Deutsche Bahn's 'Ideas train' seeks to disrupt how we use rail | Germany's state-owned railway company Deutsche Bahn has unveiled a train it believes could compete with self-driving cars. The Ideenzug or "Ideas train" includes a digital coach with TVs and games consoles, a play area for children and a gym, as well as swivelling seats for passengers who don't like to travel backwards. However, reports in German newspaper Süddeutsche Zeitung suggested some of the innovative train's features, notably the gym may not survive security regulations. | https://www.engadget.com/2017/11/13/germany-idea-train-gaming-consoles/ | 2017-11-13 11:24:34.037000 | The impending era of driverless rides could prove disruptive for traditional modes of public transport. But, Germany's state-owned railway company thinks it has a solution, and it sounds like a lot of fun -- especially for gamers. It just unveiled plans for a new train complete with a digital coach that packs TVs and game consoles. Deutsche Bahn's "Ideenzug" ("Idea Train") will also boast gym equipment and a play area for kids. The railway firm envisions the project as a way to keep pace with, and even overtake, self-driving cars. (If it thinks autonomous vehicles are a scary prospect, wait till it learns of the Hyperloop).
For people turned off by backward-facing chairs, the train will boast swivelling seats (some of which will also come with bulges on either side for added privacy). Deutsche Bahn is currently showing off a replica of the project. But, making it a reality could prove a tricky prospect, with some claiming that it may not pass security regulations, as reported by German newspaper Süddeutsche Zeitung. The sticking point seems to be the gym equipment, so gaming will likely still be on the cards.
Railway travel is changing elsewhere too, but these modifications have hinged on green energy and faster journeys. India, for example, recently debuted a solar-powered train, while Japan is known for its high-speed bullet trains. But, Deutsche Bahn's project seems retrofitted to accommodate the modern-day traveller. Someone who wants to get in a workout, catch up on work, and indulge in some multiplayer action en route to their destination. All that's missing is Netflix. |
Adfenix raises $6m in series A to help agents target social media | Swedish advertising technology company, Adfenix, has raised $6m in series A funding to expand it business across the UK and America. Adfenix claims that by using social media targeting it can help estate agents to reach potential clients three times faster than if they were to use online portals. Gabriel Kamienny, co-founder of Adfenix, stated that the company aims to equip real estate agents of tomorrow with the tools to be a tech-enabled service. | http://www.propertyindustryeye.com/technology-company-claiming-to-reach-buyers-faster-than-portals-gets-4-5m-backing/ | 2017-11-13 11:07:51.907000 | Post navigation
A Swedish technology company, Adfenix, that specialises in helping estate agents promote their business and listings on social media has received £4.5m of venture capital funding to expand its UK presence and move into America.
The money has been provided by venture capital firms Notion Capital, Industrifonden, Starbright and Goodfellow.
Adfenix, which operates in the Nordics, UK and Australia, says the funds will be used to grow its existing operations and to expand into the US.
It claims to be able to help estate agents reach potential buyers three times faster using social media, instead of being forced to rely on portals.
Its services are used by UK agencies including RE/MAX and Farrell Heyworth.
The company provides three products. Its Home Booster offering takes property listings from agents subscribing to its services and turns them into targeted adverts on social media. Its Agent Booster service advertises the agency on social media by sharing targeted reviews. There is also an online chatbot service that lets website visitors ask questions and book viewings.
The service costs from around £50 per advert depending on the region.
Gabriel Kamienny, co-founder of Adfenix, said: “We are equipping real estate agents and their clients with the power to sell and buy homes easier and quicker.
“I truly believe that the estate agents of tomorrow are all going to be tech-enabled, and we want to help both traditional agencies to make this leap as well as boosting the new class of hybrid online agencies with their value proposition.”
Jeremy Collins, of Farrell Heyworth, said: “We are able to more than double the number of showings in the first three weeks of a listing when we use Adfenix Home Booster.” |
UK makes data on corporate property ownership freely available | HM Land Registry has made data on land and property owned by companies in England and Wales freely available. The information made available includes company names and addresses; the price paid for land or properties; and country of incorporation. The move is aimed at boosting the growth of the proptech industry and enabling citizens and firms to scrutinise records. Users must register to access the data but it is hoped that greater transparency will promote economic development, financial stability, tax collection, law enforcement and national security. | https://www.gov.uk/government/news/hm-land-registry-makes-commercial-ownership-data-free?inf_contact_key=534556d52e38774abba354a0ee89f0ce34d9f9bc3616d1a8d1b92db8a2c61b04 | 2017-11-13 10:44:00.960000 | Today, HM Land Registry is making available, for free, data on land or property in England and Wales where the registered legal owner is a UK company or corporate body, or an overseas company.
The Commercial and Corporate Ownership Data and Overseas Companies Ownership Data contain more than 3 million rows of data and include the address, company’s name, price paid and country of incorporation along with other useful information.
By making the data available free of charge HM Land Registry is offering citizens and organisations the opportunity to scrutinise the records and discover which companies own land and property in England and Wales.
Today’s release also removes existing cost barriers that have previously restricted the use of the data. This will support growth in the property technology (PropTech) sector and among small and medium-sized enterprises.
Responding to the Government’s commitment to drive innovation in the digital economy, HM Land Registry will be opening up more of its datasets externally and across government to promote economic development, financial stability, tax collection, law enforcement and national security.
Chief Executive and Chief Land Registrar Graham Farrant said:
We are continually striving to make the best use of our hugely valuable data. Our ambition is to become ‘the world’s leading land registry for speed, simplicity and an open approach to data’. The release of two significant sets of data today marks another important milestone in that journey. We will be releasing more datasets in high quality and accessible formats to enable them to be used by anyone with an interest in land and property, supporting the growing digital economy and adding to the nation’s geospatial intelligence.
HM Land Registry is committed to protecting the register while encouraging greater use of the data. To safeguard against possible fraud or misuse, the datasets are being released under licence and require users to register to get access.
Notes to editors |
ESPN launches Snapchat version of its SportsCenter news brand | ESPN has launched its SportsCenter news brand for the Snapchat platform, publishing twice-daily broadcasts during the week, and once over the weekend. Additional episodes will be produced to cover breaking news. The Snapchat versions of SportsCenter will be up to five minutes long and feature several ESPN personalities.
| http://www.adweek.com/tv-video/espn-brings-sportscenter-to-snapchat-with-a-twice-daily-sports-show-launching-today/ | 2017-11-13 10:36:59.163000 | After rolling out daily news shows from NBC News and CNN in recent months, Snapchat is teaming with ESPN to bring a regular sports show to the platform for the first time. But unlike the NBC News and CNN shows, ESPN’s new offering from Snapchat carries the name of one of the network’s biggest brands: SportsCenter. |
SpaceX reveals 'BFR' rocket plans for Mars travel | SpaceX, the American space exploration company founded by entrepreneur Elon Musk, has given further details of its plans for missions to Mars. In a question and answer session on Reddit, Musk discussed the company's "BFR" ("Big F***ing Rocket") propulsion system, which will be used to propel its spacecraft on interplanetary journeys as well as on intercontinental flights on Earth. The rocket will be powered by 31 of SpaceX's Raptor engines and full tests are planned over the next six years. The company intends to send cargo ships to Mars in 2022 and the first human settlers in 2024.
| http://www.dailymail.co.uk/sciencetech/article-4984662/Elon-Musk-reveals-details-plans-colonise-Mars.html | 2017-11-13 10:18:07.987000 | Elon Musk has outlined more details of his vision for SpaceX's future missions to Mars, during a question and answer session on Reddit.
The firm plans to send two cargo ships to Mars in 2022, followed by four further vessels - two with cargo and two with human settlers - in 2024.
Among the topics under discussion were plans for the firm's Interplanetary Transport System, or Big F***ing Rocket (BFR), as well as life on the red planet.
One of Musk's biggest revelations was his plans for internet on Mars, which he says would even allow settlers to use Snapchat during their stay.
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Elon Musk has outlined more details of his vision for SpaceX's future missions to Mars, during a question and answer session on social media
SNAPCHAT ON MARS Some users questioned how Mars would be able to communicate and exchange information with Earth. At certain times of the year, there will be a distance of more than 20 light-minutes separating the two planets. Musk suggested that some sort of new 'space internet' would be needed. He said: 'If anyone wants to build a high bandwidth comm link to Mars, please do.' However he also noted that when the planets are closer together, with a minimum distance of three light minutes, data transfer would be less problematic. He added: 'So you could Snapchat, I suppose. If that's a thing in the future.' Advertisement !- - ad: https://mads.dailymail.co.uk/v8/ru/sciencetech/none/article/other/mpu_factbox.html?id=mpu_factbox_1 - ->
Musk began the Ask Me Anything (AMA) session on Reddit discussing the latest addition to his company's arsenal, the 'Big F***ing Rocket' (BFR).
The vehicle, announced in September at the International Astronautical Congress, will be used for faster travel between destinations on Earth, as well as to transport people to Mars.
Fans who took part in the AMA were keen to know more about the Interplanetary Transport System (ITS), which uses the BFR to carry the 'Big F***ing Ship' (BFS) spacecraft.
The reusable booster rocket and spaceship hybrid will be powered by 31 of SpaceX's Raptor engines and will carry people to Mars in 2024.
Musk said that the SpaceX's primary concern is getting the ITS up to spec, to ensure the safety of future colonists, but that other companies will have work on the development of the colony itself.
He said: 'Our goal is get you there and ensure the basic infrastructure for propellant production and survival is in place.
'A rough analogy is that we are trying to build the equivalent of the transcontinental railway.
'A vast amount of industry will need to be built on Mars by many other companies and millions of people.'
Musk began the Ask Me Anything session on Reddit discussing the latest addition to his company's arsenal, the 'Big F***ing Rocket' (artist's impression)
This might include the development of a 'space internet', which would allow colonists to Snapchat from Mars, Musk noted.
He said: 'If anyone wants to build a high bandwidth comm link to Mars, please do.'
However he also noted that when the planets are closer together, with a minimum distance of three light minutes, data transfer would be less problematic.
The firm plans to send two cargo ships to Mars in 2022, followed by four further vessels - two with cargo and two with human settlers - in 2024
He added: 'So you could Snapchat, I suppose. If that's a thing in the future.'
Some changes have been made since the idea for the ITS was first floated in 2016, which Reddit users were quick to pick up on.
The Raptor engines being tested for the journey to Mars were once stated to have about 300 tons of thrust, but this was later reduced to 170.
One user asked why this was the case, and Musk jokingly answered that 'we chickened out.'
But in a more in-depth response, he stated that this was to improve overall reliability, with more engines delivering a lower thrust now being employed.
Musk said: 'In order to be able to land the BF Ship with an engine failure at the worst possible moment, you have to have multiple engines.
'If you just have two engines that do everything, the engine complexity is much higher and, if one fails, you've lost half your power.'
The rocket will be bigger than any other in existence, and will take satellites to orbit, crew and cargo to the International Space Station and even lead manned missions to the moon
The BFR would fly most routes on Earth - New York to Tokyo, for example - in about 30 minutes, and anywhere in under an hour, as well as carrying astronauts to Mars
In terms of a timeframe for development Musk outlined his expectations of how testing will proceed.
Over the next five or so years before SpaceX's first planned launch, the Hawthorne, California, firm will be starting with a full-scale test of short hops of a few hundred kilometres (miles) in terms of height and distance travelled.
The BFR will use 31 Raptor engines (pictured) to produce a liftoff thrust of 5,400 tons, lifting a total mass of 4,400 tons
He added: 'Next step will be doing orbital velocity Ship flights.
'Worth noting that BFS is capable of reaching orbit by itself with low payload, but having the BF Booster increases payload by more than an order of magnitude.
'Earth is the wrong planet for single stage to orbit. No problemo on Mars.
NASA 'CAN'T AFFORD' MARS TRIP NASA's spaceflight boss have admitted the space agency does not have the budget for manned mission to Mars. During a meeting of the American Institute for Aeronautics and Astronautics on Wednesday, NASA's chief of human spaceflight William H. Gerstenmaier revealed the agency was unable to put a date on missions due to the lack of funding. The embarrassing admission comes days after Vice President Mike Pence vowed to usher in a 'new era' of American leadership in space, with a return to the Moon and explorers on Mars. 'I can't put a date on humans on Mars, and the reason really is that at the budget levels we described, this roughly 2 percent increase, we don't have the surface systems available for Mars,' said NASA's William H. Gerstenmaier, responding to a question about when NASA will send humans to the surface of Mars. 'The entry, descent and landing is a huge challenge for us for Mars,' he said. 'We think an unfuelled mars asset vehicle would weigh around 20 tons, that's a 20 fold increase on a rover.' Gerstenmaier also hinted the agency may instead look at returning to the moon instead, and spoke of 'fiscal realism'. 'If we find out there's water on the Moon, and we want to do more extensive operations on the Moon to go explore that, we have the ability with Deep Space Gateway to support an extensive Moon surface program,' he said, according to ars. 'If we want to stay focused more toward Mars we can keep that.' Advertisement !- - ad: https://mads.dailymail.co.uk/v8/ru/sciencetech/none/article/other/mpu_factbox.html?id=mpu_factbox_2 - ->
One of the most upvoted questions posed to Musk was on how he plans to scale the rocket up from a prototype device.
Musk said that scaling wouldn't be a problem, but SpaceX's main focus is on making sure the rockets are reliable and safe.
He said: 'The objective is to meet or exceed passenger airline levels of safety.
Once pressurised, the BFR's cabin volume reaches 825 cubic metres - more than that of an Airbus A380 cabin. Pictured is an artist's impression of the rocket docking with the International Space Station
The nose also houses a central storage area, galley and solar storm shelter to keep passengers safe during dangerous bouts of solar activity
'That will be especially important for point to point journeys on Earth.
'The advantage of getting somewhere in 30 mins by rocket instead of 15 hours by plane will be negatively affected if "but also, you might die" is on the ticket.'
Another question about the BFR's engines, and whether they will be 3D printed, revealed SpaceX has developed an entirely new type of high-strength metal alloy.
Asked about life on Mars itself, Musk claimed that the company is more concerned with the journey than the colony (artist's impression)
Musk said: 'Some parts of the Raptor will be printed, but most of it will be machined forgings.
'We developed a new metal alloy for the oxygen pump that has both high strength at temperature at won't burn.
'Pretty much anything will burn in high pressure, hot, almost pure oxygen.' |
Ping An plans to invest $1bn in global fintech, health start-ups | Chinese insurer Ping An is planning $1bn worth of investments in fintech and healthcare startups. The firm is planning to make the investments within the next three or four years with the goal of increasing its technological clout. As well as insurtech, the company is also interested in new innovative banking and lending platforms. Ping An will also look for AI-powered health start-ups as well as companies using data analysis with wearables and mobile technology. | https://www.chinamoneynetwork.com/2017/11/13/jonathan-larson-explains-chinese-insurance-giant-ping-wants-invest-1b-global-tech-start-ups | 2017-11-13 09:59:34.107000 |
Listen: "Jonathan Larsen Explains How Chinese Insurance Giant Ping An Wants To Invest $1B In Global Tech Start-Ups" https://media.blubrry.com/chinamoneypodcast/p/assets.chinamoneynetwork.com/wp-content/uploads/20171113141817/china-money-network-2017-11-13.mp3
For Jonathan Larsen, an 18-year Citi veteran, joining China’s Ping An Insurance (Group) Co. was like an army general being asked to lead a small, elite squad. As Global Head of Retail Banking and Mortgages at Citi, Larsen oversaw a global team of 80,000 employees. But when he joined Ping An this May as Chief Innovation Officer and CEO of the US$1 billion Ping An Global Voyager Fund, the team was just him and his assistant on his first day.
But his responsibilities and opportunities are possibly greater than ever. As CEO of Ping An’s new Global Voyager Fund, Larsen is leading a growing team of professionals to deploy US$1 billion to companies globally to help the Chinese insurance giant’s drive toward becoming an innovative conglomerate. On top of that, as chief innovation officer of the whole group, Larsen works with the senior management team to make sure that Ping An comes out as a leader of innovation ahead of its competitors in the mid- to long-term.
"Its a welcome change and it’s very energizing to come to a new domain with very different mission and agenda. Even though the scope of people management is different, the nature of the roles are actually complimentary," Larsen told China Money Network at Ping An’s Hong Kong office at the International Finance Center.
Ping An, the country’s largest insurer by market value, launched its first overseas fund – the Global Voyager Fund – to primarily invest in fintech and healthcare technology globally, with US$1 billion to be allocated by the parent group. The fund has an ambitious objective: to fully invest the US$1 billion in the next three to four years in companies that will "move the needle" for Ping An’s innovation objectives.
"The Global Voyager Fund is one of many levers for driving innovation within Ping An," says Larsen. "It’s about making investments in companies that have distinctive technologies, platforms and models that could achieve success and have strategic relevance for Ping An’s existing and new business."
For fintech, Larsen says that he is most concerned with three parameters when considering a potential investment: the technology, how that technology is likely to unlock value, and what is the synergy between the technology and Ping An. A positive investment needs to click all three boxes.
Personal and business lending platforms, business model innovations and insurance tech space are some of the areas that Ping An is particularly interested in, Larsen says. In September, Ping An Global Voyager Fund made its first investment in European fintech company, 10x Future Technologies, a fintech company founded by former Barclays CEO Antony Jenkins. The company focuses on providing holistic technology solutions to banks that allow them to keep their APIs and data in one place. Such a platform could be integrated in Ping An’s own bank and its Ping An Financial OneConnect, a platform under Ping An tasked with exporting the fintech capacity of the group to other financial institutions.
In healthcare, Ping An has paid attention to the use of artificial intelligence (AI) for diagnostics, helping physicians shape treatment paths, as well as the use of wearables, and mobile technology for adherence monitoring and follow-up consultations. Ping An, of course, has a healthcare insurance business in China and also owns Good Doctor, a personal health mobile app with 500,000 daily active users. Any investments in these areas would likely have an attractive strategic component for Ping An, Larsen says.
subscribe to China Money Podcast for free in the iTunes store, or subscribe to our weekly newsletter. Read an interview Q&A below. Alsoto China Money Podcast for free in the iTunes store, orto our weekly newsletter.
Q: You joined Ping An in May as chief innovation officer and also the CEO of the US$1 billion Ping An Global Voyager Fund. What’s the biggest change from your past retail banking role at Citi?
A: During the last four and half years, I have been running the global retail banking group at Citi. From front to back, I had about 80,000 people working for me one way or another, so it’s a big change to come to a small team (at Ping An). In fact, I had (only) my assistant and me for the first day. But of course, Ping An is a huge group itself with 325,000 staff and 1.2 million life insurance agents, but our fund is new as we are starting from scratch and building up our team.
Its a welcome change and it’s very energizing to come to a new domain with very different mission and agenda. Even though the scope of people management is different, the nature of the roles are actually complimentary as I was in touch with new fintech technologies at Citi already.
Q: You have two roles at Ping An, as chief innovation officer and CEO of the Global Voyager Fund. How do they overlap or differentiate?
A: As chief innovation officer for Ping An overall, I’m here to help the group to continue to innovate and to find new technology, new platforms and new approaches that can be integrated into their businesses. That include companies in China and internationally.
The Global Voyager Fund is one of many levers for driving innovation within Ping An. It’s about making investments in companies that have distinctive technologies, platforms and models that could achieve success and have strategic relevance for Ping An’s existing and new business.
Q: Is this a corporate venture fund?
A: It is a corporate venture fund and our objective is strategic. Via a minority investment in a company we want to achieve some form of partnership that’s going to be helpful to our businesses.
Q: When you say the Ping An Global Voyager Fund is one of many levers for driving innovation, how would you describe the coordination among all those levers?
A: Ping An has dozens of business lines and each runs with high level of autonomy, coupled with a disciplined KPI system. It’s the most disciplined KPI system I have ever seen in my career, actually, a very detailed and very vigorous system to drive what they need to deliver.
Q: Give us an example. For Ping An Global Voyager Fund, what’s your KPI?
A: That’s an interesting thing, I think I am the only person in the company apart from the chairman that doesn’t have KPI. My agenda is much more open. But the important part is that innovation comes from bottom up and from within, it comes from strategic partnerships, it’s from ideas we generate from group level that can be injected into the businesses, and also the partnership we are creating through the voyage fund.
Q: When the fund was established, did it require government approval as it’s an offshore investment platform?
A: It’s entirely Ping An’s capital, and we’re actively investing as we speak. The fund is using capital Ping An already has overseas, so it’s completely compliant with the foreign exchange requirements and any other approvals that are required for deploying capital internationally.
Q: Let’s talk about one of the fund’s focus area, fintech. What are some specific areas in this sector that you’re most optimistic about?
A: Typically, we apply three lenses: Where is the innovation; where is that innovation likely to unlock real value; and what is it going to give the most leverage and be most relevant to Ping An?
There could be areas that look like a really good opportunity internationally, but maybe less relevant in China. For example, in the International remittances area, obviously China has currency controls and not all of the remittance products that we see in the U.S., Europe or U.K., could simply be applied in a direct way. So that limits opportunities (and won’t be very relevant to us).
Q: Could you give us a couple of examples of companies that fit all those criteria you just described?
A: I’ll tell you about the first deal that we’ve just announced, which is an investment in a company called 10x Future Technologies that was set up two years ago by Anthony Jenkins, who is the former CEO of Barclays and has 30 years experience in retail banking and credit cards.
The company aims to help banks build contemporary tools, APIs and data lake construction that allows structured and unstructured data to be kept in one place. It solves the problems faced by large-scale banks, which have many layers of legacy technology components that are very expensive and complicated.
Q: What is the strategic part of this investment?
A: Well, Ping An has its own bank and we also have a very interesting business called Ping An OneConnect, which is a business that tries to leverage Ping An’s capabilities and make them available to other players within the China market, with 200 banks joining. So Ping An could take the 10X platform and make that part our core component.
Q: How many companies have you talked to so far for investment purposes?
A: It’s about 250 so far in the past five months. 10X is our first investment and we have a very robust pipeline. Our focus is global and our primary purpose is to look outside China to find leading platforms that we can then bring to China.
We’re very interested in personal and business lending platform, model innovations and the whole insure tech space. We think that insurance is definitely going to experience fundamental changes in delivery technology over the next three to five years. For example, when you leave the country, your phone knows and trigger travel insurance as needed. Also, low price-point insurance, theft insurance personal accident insurance and travel insurance could also be applied with innovative delivery technology.
Q: Let’s move on to healthcare, what specific areas in this market are you focusing on?
A: Ping An has its own health insurance business in China, we also own Good Doctor, which is the largest tele-medicine platform in the world with 140 million users and 500,000 daily active users. We’re very active in working with municipalities in China in the government health insurance space. We also have a clinic enterprise business that supports about 30% of the clinics in China around the world.
We’re seeing a lot of very interesting innovation, the use of artificial intelligence (AI) for diagnostic triage, for helping the physicians shape the treatment path, the use of wearables, and the use of mobile technology for adherence monitoring, or for follow-up consultation. Imaging is also very interesting. The technology still has some way to go, but it’s at the point where it’s investable and very close to being commercializable on the large scale.
Q: For companies like Good Doctor, what’s your thinking on if there is a way to actually monetize this type of apps?
A: I think there are many channels for delivering revenue. For example, a British tele-medicine platform is actually used as part of the government health insurance program, where it actually is reimbursable by the government health insurance platform. Also, the New Zealand government right now is using a U.S.-based company called healthTap to build tele-medicine as part of its national health delivery strategy.
We see models in the U.S. where platforms such as Good Doctor are able to charge directly for patients and are able to recover costs, or the patients are able to recover costs through private health insurance. There are product sales that can go with consultations for a user base large enough, and obviously there are advertising opportunities and so forth.
Q: What’s the most important criteria when you make investments, is it the technology or the synergy with Ping An?
A: Of course we want to deploy money efficiently and get a fair return but the overriding rationale is strategic relevance.
Generally we’re not interested in very early-stage companies as a direct investment opportunity. Typically we want to see companies that are three to seven, or three to ten years old, we want them to have a product, client base and a revenue base however small, or the ability for future profitability, as well as being stable with mature management that we think can really build a business.
Q: Let’s talk about artificial intelligence, across all the different sectors, what are the most promising application of AI that you see right now ?
A: Well, I think we’ve seen a lot of good applications in image recognition also we’ve made pretty good progress in facial recognition. Ping An uses facial recognition for people logging into the online sites or getting a loan from us. We match your face against a government database of faces to eliminate identity fraud in combination with other variables.
We’ve clearly seen decent advances in fraud analysis and credit analysis using AI techniques or machine learning techniques, as well as interactive voice replacing a lot of call center functionality.
Q: Let’s talk about investing in non-Chinese companies as a Chinese investor, how do you think the recipients of Ping An’s capital perceive you?
A: For Ping An, the astonishing part (for people unfamiliar with the company) is the width of its business, the far-reaching vision for both financial and healthcare sectors, and also how Ping An can be re-positioned as a technology company in the future in terms of how it uses data, machine learning and artificial intelligence.
From my experience, our capital is extremely welcome. We approach companies to learn, to take advantage and to leverage the innovation they created.
Q: Recently, China banned initial coin offerings and also the Chinese central bank is rumored to be preparing to issue their own cryptocurrency，what’s your view of cryptocurrency development in China?
A: I think the whole crypto phenomenon is very interesting and I don’t like the idea that you can just make up your own currency and expect it to fly as a medium of exchange. I think the way that the global monetary system works today is that central banks are in charge of the supply of money and I can’t see any basis on which responsible central banks would be willing to give up that control.
So that raises a separate question: Would it be possible to express central bank issued currencies in the form of an algorithmic currency? I think the answer is quite promising. If you think about it, today currency is virtualized already and there’s no physical instrument that transfers in many situations. I think that will be the future.
About Jonathan Larsen: Jonathan Larsen joined Ping An Group this May as the company’s chief innovation officer and CEO of Ping An’s US$1 billion Global Voyager Fund. Prior to Ping An, Larsen worked at Citi for 18 years, last as the company’s global head of retail banking and mortgages.
(China Money Network reporter Pan Yue also contributed to this article.) |
Opioids kill more in the US than Aids at its peak: Zuckerberg | More people in the US are dying from opioid overdoses today than from Aids at the peak of the epidemic, with the numbers fast growing, according to Facebook's Mark Zuckerberg. He also warned of the more broader knock-on effects of opioid addiction, including the strain on police resources and a reduction of the employable workforce. The statements come amid rumours of Zuckerberg's intention to run for the presidential office. "We have a responsibility to remain optimistic so we can solve these problems, because optimists are the only ones that will”, said Zuckerberg. | https://www.theguardian.com/technology/2017/nov/10/mark-zuckerberg-opioid-crisis-facebook-america-tour | 2017-11-13 08:39:33.103000 | The “biggest surprise by far” from Mark Zuckerberg’s listening tour of America is the extent of the opioid crisis, the Facebook CEO said on Friday.
“It’s really saddening to see,” he said, referencing the 64,000 people who died from drug overdoses last year.
“That’s more people than died from Aids at the peak of the Aids epidemic. That’s more Americans that died in the whole of the Vietnam War. It’s more people than die of car accidents and gun violence I think combined, and it’s growing quickly,” he added.
Zuckerberg’s eyes welled up as he talked about his encounters with communities affected by the crisis. He described sitting down with a group of recovering heroin addicts in Dayton, Ohio, and hearing a woman say how when she was an addict her objective with shooting up was to get as close to death as she could without dying. He mentioned another man whose thought upon seeing his friend overdose was “I wonder who that guy’s dealer is because that must be really good stuff”.
“So this is like ... just intense,” said Zuckerberg, speaking in a 50-minute Q&A at the University of Kansas.
Zuckerberg made his comments about opioid addiction the day after former Facebook president Sean Parker used the language of addiction to criticize the social network, stating that features such as the “like” button were designed to give users “a little dopamine hit”.
The Facebook CEO also highlighted the impact of opioid addiction on the broader community, including the strain on police resources and the employable workforce, referencing an Alabama shrimp fisherman who couldn’t find people to work on his boat because so many people were hooked on opioids.The “good news”, he added, is that there is a roadmap for dealing with these kinds of crises – as demonstrated by France, which had its own opioid crisis in the 1990s and 2000s.
Zuckerberg and his wife Priscilla Chan have pledged billions to tackling disease through their philanthropic organization the Chan Zuckerberg Initiative. The Guardian contacted the organization to find out if it would be allocating any funds to tackling the opioid crisis, but received no response.
The tech CEO’s photogenic trip around 30 states in America to meet people in communities outside of his Silicon Valley bubble has led many to speculate that he plans to run for president – something the CEO and the company have repeatedly denied.
For Zuckerberg, many of the answers lie not in government, but in the vague concept of “community” – which conveniently ties into the company’s updated mission statement, announced in February.
The year-long trip around the country has had a profound impact on how Zuckerberg views himself and his approach to tackling complex problems.
“I started this year as an engineer and now I’m wrapping it up thinking of myself as more of a community builder too,” he said.
Being a community builder as well as an engineer requires the ability to not only solve problems but to “share values” and “support people”, he explained.
Zuckerberg highlighted some of the positive communities on Facebook that bring parents or sufferers of rare diseases together, without mentioning the way that the social network provides a handy way for neo-Nazis to organize.
The tech billionaire’s failure to acknowledge the downsides to technological development has led some, including Elon Musk on the topic of artificial intelligence, to criticize him as naive. However, towards the end of the session Zuckerberg explained where his relentless optimism comes from.
“Optimists tend to be successful and pessimists tend to be right,” he said. “If you think something is going to be terrible you are going to look for data points to prove you are right. You will find them. That’s what pessimists do.
“But if you believe something can work […] you are going to look for a way to make it happen. Even when you make mistakes, even when people doubt you, you are going to keep pushing forward and make it happen.”
“The world is full of pessimists right now. There’s no doubt we face a lot of challenges and we have a lot of responsibility and work to do. But we also have a responsibility to remain optimistic so we can solve these problems because optimists are the only ones that will.” |
Tesla introduces its insurance scheme to New Zealand | Tesla has introduced its insurance scheme for its vehicles to New Zealand, following the company's roll out of the scheme in the US. InsureMyTesla, the company's scheme, is billed as providing cheaper coverage than other insurance providers due to the fact it takes into account the car manufacturer's auto-driving functionality. Tesla will be partnering with Vero Insurance in New Zealand for the latest roll out of the coverage. InsureMyTesla is now available in more than 20 countries. | http://autofile.co.nz/tesla-to-expand-its-insurance-programme-to-new-zealand/ | 2017-11-13 08:35:35.197000 | Tesla to expand its insurance programme to New Zealand
Posted on 12 November, 2017
Tesla has created a customised insurance program, InsureMyTesla, that claims to be cheaper than traditional plans because its specifically tailored to their advanced safety features, such as the Autopilot system. InsureMyTesla is already available in twenty countries and is underwritten by insurers partnering with Tesla. In New Zealand, Tesla is partnering with Vero Insurance. The insurance package demonstrates how the insurance industry is bound for disruption as cars get safer with self-driving capabilities. Until then, Tesla’s safety features should theoretically reduce insurance rates. However some Tesla owners have reported that they have been paying higher than average premiums to drive their electric cars. Tesla CEO Elon Musk has said that insurance agencies should adjust their prices for Tesla vehicles because the cars come with Autopilot, the company’s advanced assisted feature. “Not to the exclusion of insurance providers but if we find that insurance providers are not matching the insurance proportionate to the risk of the car, then if we need to, we will in-source it,” Musk said in February. The deal with Vero Insurance shows how New Zealand insurance agencies are starting to understand that they must adjust their prices as cars get safer. In the near future Tesla hopes to package the price of insurance and maintenance into the price of future vehicles. “It takes into account not only the Autopilot safety features but also the maintenance cost of the car,” Jon McNeill, Tesla’s vice president of sales and services, has said of InsureMyTesla. “It’s our vision in the future we could offer a single price for the car, maintenance, and insurance.” For more information click here. |
Innogy upgrades Galloper wind farm | German energy firm Innogy has worked with Siemens Gamesa to increase the output of its Galloper wind farm wind farm turbines from 6MW to 6.3MW, resulting in a power rating rise to 353 MW from 336 MW. The 56-turbine project generated its first power on 5 November. | http://renews.biz/109065/innogy-adds-galloper-boost/ | 2017-11-13 06:58:29.243000 | German energy company Innogy has upgraded the power rating of its Galloper wind farm to 353MW from 336MW.
The developer said it had secured an extra 17MW of power across the project after working with Siemens Gamesa to boost the output of the project's 56 turbines to 6.3MW from 6MW.
Innogy also achieved first power at Galloper on 5 November.“We have generated in record time having built the offshore part of the project in a single year which is a fantastic achievement. It has been a superb team effort from everyone involved,” said project director Toby Edmonds.The developer has installed some 33 turbines at the project, with Swire Blue Ocean's Pacific Orca and Fred Olsen Windcarrier's Bold Tern are both on site continuing installation. |
EDF Energies Nouvelles commits to 251 MW in India | EDF Energies Nouvelles has commissioned eight energy plants in India boasting a combined capacity of 251 MW. The portfolio comprises five wind parks in the state of Gujarat, three solar power stations in Uttarakhand state and a solar park in Madhya Pradesh. EDF said the additional projects take its total solar and wind capacity in India to 371 MW, against a target of 60 GW by 2022. | https://www.renewablesnow.com/news/edf-en-commissions-251-mw-of-renewables-in-india-589870/ | 2017-11-13 06:42:22.533000 | EDF Energies Nouvelles (EDF EN) has commissioned eight renewable energy plants in India with a combined capacity of 251 MW, the company announced today.
The renewables arm of French energy major EDF SA (EPA:EDF) has commissioned five wind parks totalling 164 MW in the state of Gujarat. Together, the wind farms consist of 82 turbines that have the capacity to power 460,000 local homes. EDF EN built the plants through SITAC Wind Management and Development, a 50/50 joint venture with the SITAC Group. Each wind farm has a 25-year power purchase agreement (PPA) with local utility Gujarat Urja Vikas Nigam Ltd (GUVNL).
EDF EN also said it has commissioned three solar power stations totalling 87 MWp. Two of them, each with a capacity of 36 MWp, are located in Uttarakhand state. The company’s 50/50 joint venture with EREN Renewable Energy, namely EDEN, holds a 49% stake in each plant, while local partners Omkar Powertech India Private Limited, Profigate Infra Gasoline and Rays Power Infra own the remaining 51%.
The third solar park, of 15 MWp capacity, is located in Madhya Pradesh and is wholly-owned by EDEN. Each of the three plants has a 25-year PPA with local transmission system operators.
The eight new renewable energy facilities bring the EDF group’s total solar and wind capacity in India to nearly 371 MW, EDF EN said. The group aims at 100 GWp and 60 GW by 2022, respectively.
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New Energy Solar targets $230m from upcoming listing | Australian company New Energy Solar said it hopes to raise up to AUD300m ($230m) via a listing on the Australian Stock Exchange. In filings to the Australian Securities & Investments Commission, New Energy Solar said its public offering comprised a retail offer, running from 10-27 November, followed by an institutional offer. The company aims to raise AUD200m, with the possibility of another AUD100m if oversubscribed. The funds will be used to finance the portfolio acquisition from Cypress Creek Renewables, as well as future opportunities. | https://www.renewablesnow.com/news/new-energy-solar-eyes-up-to-usd-230m-from-aussie-listing-589913/ | 2017-11-13 06:41:06.213000 | Australian investment company New Energy Solar is targeting up to AUD 300 million (USD 230m/EUR 198m) in proceeds through its upcoming listing on the Australian Stock Exchange, it said on Thursday.
The company and Walsh & Co, the representative of the New Energy Solar Fund, have filed with the Australian Securities & Investments Commission (ASIC) an offer document for the public offering of stapled securities and options. They hope to raise up to AUD 200 million and possibly accept oversubscriptions for a further AUD 100 million, a news statement says.
The offering will consist of a Retail Offer, scheduled to open on November 10 and expected to close on November 27, and an Institutional Offer. The final price of the stapled securities that will be issued is to be determined by an institutional bookbuild.
New Energy Solar plans to use the proceeds from the offering to finance the recently-announced acquisition of a solar portfolio in the US from Cypress Creek Renewables (CCR). The said portfolio includes 14 solar projects in North Carolina and Oregon that should be completed by the end of next year.
A portion of the proceeds may also be used to fund future opportunities, including a currently reviewed project pipeline that represents a direct current (DC) capacity of more than 3,000 MW in Australia and the US.
New Energy Solar presently owns two solar plants in North Carolina and a further two in California with a combined DC capacity of 225 MW.
(AUD 1.0 = USD 0.766/EUR 0.661)
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Tata Power's renewables unit doubles Q2 profit | Profitable acquisitions in the renewable energy industry have helped drive Tata Power to a net profit of INR1.73bn ($26.7m) during the three months to September, up from INR860m in the year earlier period. The utility has 3,180 MW in assets, including 936 MW of solar and 1,140 MW of wind. It plans to continue adding to its portfolio, and has set a target of between 30% and 40% of its energy capacity to come from renewable projects by 2025. | https://www.renewablesnow.com/news/tata-powers-renewables-ops-in-india-bring-higher-q2-profit-589971/ | 2017-11-13 06:39:27.183000 | Indian utility Tata Power Co Ltd (BOM:500400) on Monday reported a net profit of INR 1.73 billion (USD 26.7m/EUR 23m) for the renewables business in India in its second quarter through September, growing from INR 860 million a year back.
The improvement came thanks to an increase in profits from renewable energy acquisitions, Tata Power said on Monday. The Indian group currently has activities in 13 Indian states.
Tata Power’s CEO and managing director Anil Sardana noted that Tata Power will continue to add renewable energy projects to its portfolio and keep its positions as the largest renewable energy group in India.
The utility has set a goal between 30% and 40% of its total capacity to come from clean energy sources by 2025. According to its website, Tata Power owns 3,180 MW of renewable energy assets, including 936 MW of solar and 1,140 MW of wind parks.
(INR 10 = USD 0.154/EUR 0.133)
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Iberdrola renewables unit EBITDA stalls in first 9 months of 2017 | In the first nine months of 2017, Spanish utility Iberdrola's renewables arm has generated earnings before interest, tax, depreciation and amortisation (EBITDA) of €1.14bn ($1.32bn), flat compared to the same period in 2017. The renewables division was responsible for 21% of Iberdrola's EBITDA and received the greatest investment, with €3.99bn. The company's EBITDA in the UK rose 34.7%, while in Brazil and Mexico it was just 3%. | https://www.renewablesnow.com/news/iberdrolas-renewables-ebitda-flat-in-9-mo-2017-590002/ | 2017-11-13 06:34:11.003000 | The renewables business of Spanish utility Iberdrola (BME:IBE) generated EBITDA of EUR 1.14 billion (USD 1.32bn) in the first nine months of 2017, flat on the same period of 2016.
The division's average operating capacity expanded by 4% due to increases in the UK, Brazil and the US, but output declined marginally, by 0.5%, to 24,478 GWh, impacted by lower average load factors, mainly in Spain and Mexico. Earnings before interest, tax, depreciation and amortisation (EBITDA) were up 34.7% in the UK and 3% in Brazil and Mexico. In the US, they declined 0.6% but this market now has the largest share - 36%, in the company's renewables earnings.
More details on the performance of the Iberdrola Renewables business are in the table.
EUR million 9-mo 2017 9-mo 2016 Revenue 1,874.9 1,821.8 Gross profit 1,705.2 1,659 EBITDA 1,142.8 1,143.1 EBIT 495 498.5 Pre-tax profit 395.8 372.4 Net profit 334.1 313.7
In the nine-month period, the renewables segment provided 21% of Iberdrola's EBITDA, the second largest contribution after networks with 57%. Renewables, however, got the biggest portion, 48%, of Iberdrola's investment in the period. The company stepped up investment by 31.5% compared to a year ago to EUR 3.99 billion. At the moment, it is building 7,361 MW of capacity to be commissioned by 2020, including 1,412 MW onshore wind, 1,064 MW offshore wind, 336 MW solar and 978 MW hydro. The figure also includes 3,571 MW of combined cycles and co-generation capacity.
At the end of the period, Iberdrola's installed capacity was about 48 GW, 60% of which from renewable sources, led by onshore wind with 15.4 GW and including 12.5 GW of hydropower.
The company's overall EBITDA declined by 5.1% to EUR 5.44 billion, which was attributed to lower hydropower production in Spain and lower demand and margins in the UK's liberalised market. Net profit grew 18.4% to EUR 2.41 billion, aided by a capital gain related to reorganisation in Brazil.
(EUR 1 = USD 1.157)
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EON Renewables profit falls 20% as offshore wind earnings slump | The renewables arm of German utility EON said nine month 2017 profit fell with 19.7% to €248m ($288m). Onshore wind and solar earnings slipped to €62m from €66m, while the offshore wind/other category dropped by €57m from a year earlier period to €299m because of unfavourable wind conditions and a book gain from 2016 that wasn't repeated. EON as a whole reported a net profit of €965m, a gain of 50%, and CFO Marc Spieker said the company was in line to meet its full-year 2017 forecast. | https://www.renewablesnow.com/news/eons-renewables-ebit-drops-197-in-jan-sep-2017-590311/ | 2017-11-13 06:32:56.513000 | The renewables division of German utility E.on SE (ETR:EOAN) has experienced a 19.7% year-on-year decline in adjusted EBIT to EUR 248 million (USD 288m) for the first nine months of 2017.
Adjusted earnings before interest and tax (EBIT) at the Onshore Wind/Solar segment decreased slightly to EUR 62 million from EUR 66 million, in part because of volume-driven earnings declines in Italy and the UK. The result at the Offshore Wind/Other segment was EUR 57 million lower in January-September 2017 due to the adverse effect of unfavourable wind conditions in the UK and the absence of a book gain registered in 2016.
The table below gives more details about the performance of E.on’s Renewables division in the third quarter and nine months.
Results in EUR million 9-mo 2017 9-mo 2016 Q3 2017 Q3 2016 Adjusted EBIT (loss) 248 309 43 55 - of which Onshore Wind/Solar 62 66 (15) 13 - of which Offshore Wind/Other 186 243 58 42 Adjusted EBITDA 508 584 122 138 - of which Onshore Wind/Solar 209 229 27 57 - of which Offshore Wind/Other 299 355 95 81 Sales 1,130 1,022 420 342 - of which Onshore Wind/Solar 691 567 302 220 - of which Offshore Wind/Other 439 455 118 122
Overall, the energy group booked an adjusted net profit of about EUR 965 million in the nine-month period, which is more than 50% above the prior-year level. Adjusted EBIT was down 8% to EUR 2.1 billion, but in line with expectations.
“All key figures and developments are in line with our planning. We therefore reaffirm our forecast for full-year 2017,” said CFO Marc Spieker.
(EUR 1.0 = USD 1.159)
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EDF looks to expand Brazilian renewables portfolio to 2 GW | French company EDF Energies Nouvelles is planning to invest about $1.8bn in renewable energy in Brazil and aims to boost its portfolio to 2 GW. The company's Brazilian chief Paulo Abranches said expansion would be "organic" rather than through mergers and acquisitions, with deals taking place only when there is an attractive opportunity. EDF has 350 MW of capacity operating in Brazil and 250 MW under construction.
| https://www.renewablesnow.com/news/edf-en-aims-at-2-gw-of-renewables-in-brazil-report-590340/ | 2017-11-13 06:31:27.580000 | EDF Energies Nouvelles (EDF EN) is targeting a portfolio of 2 GW of renewables in Brazil in the coming years, Reuters reported on Wednesday.
Brazil is one of the eight priority markets for the company. It is planning to invest roughly BRL 6 billion (USD 1.8bn/EUR 1.6bn) in new wind and solar projects there, Brazilian unit head Paulo Abranches said at a meeting with Brazilian journalists.
The expansion in Brazil will be organic with acquisitions not being in the company's plans. Deals will only happen when there is a very attractive opportunity, Abranches added.
Currently, the company has 600 MW in the states of Bahia and Minas Gerais, of which 350 MW are in operation and the remaining 250 MW are in construction. This alone represents around BRL 3 billion in investments and the BRL 6 billion would come in addition to that, EDF EN noted.
(BRL 1 = USD 0.307/EUR 0.265)
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Canadian Solar and EDF link solar plants to Brazil's grid | EDF Energies Nouvelles and Canadian Solar have connected their Pirapora I and Pirapora III 284 MW solar energy plants to Brazil's grid. The plants, part of a 399 MWp (Mega Watt peak) initiative in the country's state of Minas Gerais, will contribute towards Brazil's target of generating 23% of its energy from non-hydro renewables by 2030. The 115 MW Pirapora II plant is set to become operational next year.
| https://www.pv-magazine.com/2017/11/10/edf-energy-and-canadian-solar-connect-two-large-plants-in-brazil-amounting-to-a-total-of-284-mwp/ | 2017-11-13 06:29:58.233000 | Both projects are part of the 399 MWp pirapora projects located in the state of Minas Gerais in Brazil, which were awarded a 20 year PPA following Reserve Energy Auctions in 2014 and in 2015.
Pirapora I is being powered by 600,000 Canadian Solar high efficiency CS6U-P modules, while the Pirapora III has 290,000, generating 392 Gwh and 186 Gwh respectively of solar energy, both tying into Brazil’s goal of achieving 23% of its energy generation from non-hydro renewables by 2030.
EDF energy acquired an 80% interest in both Pirapora plants from Canadian solar, as well as in the 115 MW Pirapora II project, expected to be in operation by mid-2018.
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“This acquisition constitutes further evidence of our growth ambitions in Brazil, a key renewable energy market,” Commented EDF energy CEO Antoine Cahuzac on the large-scale acquisition by EDF energy “It represents a new step toward the EDF group’s goal of doubling its renewable capacity worldwide by 2030.”
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc commented on the advances made on the projects “We are pleased to announce the commissionings of the Pirapora I and III projects, which are the first solar projects we have connected to the grid in Brazil. We see strong potential in the solar energy market in Brazil and will continue to grow our project pipeline in the country to meet the local demand for clean and affordable solar energy. EDF EN is an important partner and we look forward to continuing our successful partnership with more opportunities in Brazil and other countries.” Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc. |
Cities pledge zero emissions by 2050 | Mayors representing 25 cities, home to a total of 150 million citizens, have pledged to reduce their carbon emissions to net zero by 2050. The cities will also adopt measures to become more resilient to climate change. The plans, which will be developed in partnership with the C40 Cities network, will be in place by 2020. Separately, the Global Covenant of Mayors for Climate and Energy said their pledges would reduce carbon emissions by 1.3 billion tonnes per year by 2030. The Covenant also launched a new global standard for monitoring and reporting urban emissions, to be implemented from 2018. | http://www.c40.org/press_releases/25-cities-emissions-neutral-by-2050 | 2017-11-13 00:00:00 | The mayors of 25 pioneering cities, representing 150 million citizens, have pledged to develop and begin implementing more ambitious climate action plans before the end of 2020 to deliver emissions neutral and climate resilient cities by 2050. These plans will ensure the cities deliver on their share of emissions reductions required to realise the ambition of the Paris Agreement.
In concrete terms, these climate action plans, developed with the support of C40 Cities, will help the world’s largest cities cut their emissions steeply over the next decade, and reach net-zero emissions by 2050. The plans will also demonstrate how each city will adapt and improve its resilience to climate-related crises and extreme weather events. Finally, the plans will detail the wider social, environmental and economic benefits for all citizens, of taking climate action.
The C40 member cities that have made this pioneering commitment, are: Austin, Accra, Barcelona, Boston, Buenos Aires, Cape Town, Caracas, Copenhagen, Durban, London, Los Angeles, Melbourne, Mexico City, Milan, New York City, Oslo, Paris, Philadelphia, Portland, Quito, Rio de Janeiro, Salvador, Santiago, Stockholm & Vancouver.
In delivering the Deadline 2020 programme C40 will be working in collaboration with other leading city initiatives such as The Carbon Neutral Cities Alliance to achieve long-term emission reduction goals across more cities.
C40 Cities today also announced that they will provide direct support to nine African megacities in developing unprecedented, robust and evidence-based long-term climate action plans that align with the goals of the Paris Agreement. This project (Cities Matter: Capacity building in sub-Saharan African megacities for transformational climate change mitigation) is part of the International Climate Initiative (IKI). The Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB) supports this initiative on the basis of a decision adopted by the German Bundestag.
The cities supported through this initiative are: Accra, Cape Town, Addis Ababa, Dar es Salaam, Durban, Johannesburg, Lagos, Nairobi and Tshwane.
“The Paris Agreement is very clear on what needs to happen to take courageous climate action,” said Mayor of Paris and C40 Chair, Anne Hidalgo. “Mayors of the world’s great cities are shaping the century ahead and paving the way for a better, healthier and greener future. Mayors do what they must do, not what they can, and these plans and policies are an excellent example of our state of mind. With the support of key partners, like BMUB and C40, African cities are playing a leading and decisive role in delivering on the ambition of the Paris Agreement.”
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UK's Labour to include climate change risks in economic forecasts | Climate change risks will be factored into government independent economic forecasts in the event of the UK’s opposition Labour Party taking office. Speaking at the Institute for Public Policy Research on Tuesday, shadow chancellor John McDonnell will state that climate change is the “greatest single public challenge” and will call on governments to include the fiscal risks of global warming in forecasts, placing the threat on an equal footing with other challenges that have an impact on public finances. McDonnell will also announce that Labour would make the Office for Budget Responsibility entirely independent, while providing it with greater resources. | https://www.theguardian.com/environment/2017/nov/13/labour-vows-to-factor-climate-change-risk-into-economic-forecasts?CMP=Share_AndroidApp_Tweet | 2017-11-13 00:00:00 | The risk posed by climate change would be factored into projections from the government’s independent economic forecaster if Labour took office, the shadow chancellor will announce on Tuesday.
John McDonnell will highlight the human and economic costs of manmade climate change, calling it the “greatest single public challenge” and say the government should include the fiscal risks posed by global warming in future forecasts.
The landmark change would, for the first time, put climate change on an equal footing with other complex challenges affecting the public finances such as demography.
Under a Labour government, the Office for Budget Responsibility would be given total independence, McDonnell will announce, saying the forecaster would report directly to parliament rather than the Treasury.
Speaking at the Institute for Public Policy Research on Tuesday, McDonnell will say that meeting the challenges of climate change will require “a transformation of our institutions and how our economies are run”.
McDonnell said that Labour “wants to ensure that the overwhelming challenge of climate change is addressed from the very centre of government. This includes the potential losses to the public finances.
“The public deserve to know what impacts we might expect on the national purse from the degradation of our environment. Sound, responsible economic management should already be accounting for this.”
Labour Treasury sources said the party wanted to ensure that long-term impacts of climate change and environmental damage, including effects on food prices, flooding and loss of productivity in more frequent extreme weather, could have a direct impact informing economic policymaking.
McDonnell will argue that the effects of manmade climate change are already having an economic effect. Costs in recent years have included more frequent flooding, which the Environment Agency estimates now costs £2.2bn annually.
Over the summer, the Bank of England said it had begun its own investigations into the extent of the banks’ exposure to the effects of climate change, announcing it was “initiating a review of climate-related risks in the UK banking sector”.
Several other authorities in Europe, including in Germany and Sweden, have also been examining the financial consequences of climate change. But the UK would be the first country in the world to mandate the assessment done by an independent fiscal council.
Under Labour, the OBR would be given additional resources to deliver the best economic modelling of environmental impact, McDonnell will say. “It will become a new centre of expertise for environmental macroeconomics,” he will say.
The shadow chancellor said he would “guarantee and reinforce that independence of the OBR by making the body report to parliament rather than the Treasury.
“We want the public, whether businesses or voters, to be absolutely confident that the public finances are properly scrutinised and managed.”
Environmentalists welcomed the proposal though cautioned that the effects of climate change could not all be given economic value.
Greenpeace UK’s chief scientist, Dr Doug Parr, said the change would “help concentrate the minds of future governments on the urgency and scale of the challenge” of climate change on the economy.
“Major companies and financial institutions have already started factoring in the impacts of climate change in their forecasts, so it’s right that the UK government should do the same for the public purse,” he said.
“Not all environmental degradation can be translated into monetary values, but if you just look at the billions of pounds of damage caused by floods, you can see why the impact of climate change on the government’s balance sheets cannot be ignored.”
Michael Jacobs, director of the IPPR commission on economic justice, said the change would be an important shift. “Over the last few years the Bank of England has been telling the financial sector that it must report on the investment risks arising from climate change,” he said.
“It is very welcome that Labour is now signalling that government – through the OBR – should do the same with its macroeconomic forecasts. This is an important way to ensure that climate change is properly integrated into economic policy.”
Friends of the Earth CEO Craig Bennett said the change would be “welcome news” and said the effects of climate change “could easily dwarf the huge financial crisis from which the world is still recovering.”
The WWF also backed the change and said other parties should follow. “All political parties need to ensure long-term planning for the environment is at the heart of their programmes,” Karen Ellis, WWF’s chief advisor on economics and development, said. |
Congo’s peatland carbon sinks at risk from logging | Central Africa’s peat beds, which store 2,000 tonnes of carbon per hectare and slow global warming, need a global initiative to protect them, according to scientists. The peatlands contain one third of the planet's total tropical peat, making them one of the world’s most important carbon “sinks”. However, if forests continue to be felled for agriculture, the peat will dry out, releasing huge amounts of CO2 and intensifying climate change. Logging companies and European governments are currently calling for a 15-year moratorium on new industrial logging concessions in the region to be lifted.
| https://www.theguardian.com/environment/2017/nov/12/congo-basin-swamps-peatlands-carbon-climate-change | 2017-11-12 00:00:00 | Stumbling on submerged roots, attacked by bees and wading waist-deep through leech-infested water, the three researchers and their Pygmy guides progress at just 100 metres an hour through the largest and least-explored tropical bog in the world.
The group halt and unpack what looks like a spear, which is plunged over and over again into the waterlogged forest floor. Each time it brings up a metre-long core of rich, black peat made up of partly decomposed leaves and ancient plantlife. The deepest the steel blade reaches before meeting the underlying clay is 3.7 metres.
Leeds University forest ecologists Simon Lewis and Greta Dargie cheer. The peat bed below the tangle of trees and water in the geographical heart of Africa is much deeper than they expected; and because peat stores carbon and slows global warming, their new research conducted last week in the Democratic Republic of the Congo (DRC)will be welcome news for the 194 countries meeting in Bonn for the annual UN climate conference.
Lewis and Dargie surprised the world earlier this year when they showed that the peatlands on either side of the Congo river contained one third of all the world’s tropical peat and were five times more extensive than anyone had thought, stretching over 145,500 sq km (56,000 sq miles), an area larger than England.
Since 2012, the two researchers have spent months at a time wading through bogs and sleeping on makeshift platforms built above the crocodile-infested swamp forests in the Cuvette central region of the neighbouring Republic of the Congo. “We would see elephant feet and gorilla hands imprinted in the peat. We were increasingly in awe that a remote, almost unknown, wilderness such as this could still be found on Earth today,” said Lewis.
Working mainly in the dry season, they took more than 500 peat samples, and calculated that the central African peatlands hold 30.6 billion tonnes of carbon accumulated over 10,000 years – the equivalent to three years of the world’s fossil fuel emissions. This would make them one of the world’s most important carbon “sinks”, they said.
But their new exploratory research, conducted with the Congolese botanist Corneille Ewango, 50km from Mbandaka in DRC, suggests that central Africa’s inaccessible forest swamps could be even more important as a global carbon storehouse than they thought, and could need a global initiative to research and protect them.
Campaigners from Greenpeace and the local community of Lokolama are fighting to preserve the precious carbon stores. Photograph: Kevin McElvaney/Greenpeace
“While the extent of the peat is known, its depth is not. There is just no data. We are a long way from really knowing how much is there and need to do more research,” said Dargie.
“Maintaining these large stores of carbon must be a global priority. Only with strong scientific data on the peatland, and how it behaves or might react to future changes, can governments establish baselines and protections in international agreements to ensure it is preserved,” said Greenpeace forest campaigner Matt Daggett.
There is growing understanding that the fate of carbon sinks like the Congo basin peatlands will determine future climate change. If left alone, they are vital collectors of CO 2 ; but if the forests above them are felled and the land is converted to farming, as has been widely practised for the past 30 years in south-east Asia, then the dried-out peat emits vast quantities of CO 2 and intensifies climate change.
Tropical peatland stores around 2,000 tonnes of carbon per hectare but this has been barely recognised by governments which have continued to promote intensive farming on peatlands.
The draining of south-east Asia’s peat swamps and the felling of its trees has been a climate disaster, say scientists. Two months of intense peat fires started in August 2015 to clear land for palm oil and pulp and paper plantations in Indonesia released an estimated 884m tonnes of carbon dioxide, more than the European Union in its entirety emitted that year.
The Congo basin forest, the second largest in the world after the Amazon, has been relatively protected by its inaccessibility, but environmentalists say it is highly vulnerable and its peat could easily be destroyed. Pressure is building, they say, from logging companies and European governments to lift a 15-year-old moratorium on the allocation of new industrial logging concessions.
Logging on swamplands is prohibited in the DRC but, says the Rainforest Foundation UK (RFUK), Congolese legislation does not precisely define what constitutes a swamp. Its analysis suggests 3.4bn tonnes of carbon could be emitted if the concessions become active.
According to Greenpeace, nearly half of the DRC’s current logging concessions are in breach of the law because their permissions have run out and they do not have approved management plans. These concessions overlap around 10,000 sq km of peat swampland.
“If this forest is cut, there will be decomposition of the peat and vast quantities of CO 2 will be released into the atmosphere, said Dagett.
The Congolese government, which has welcomed the scientists, is cautious about further protection. “There must be a balance between the forests and development. It comes down to money,” said Joseph Katenga, forest adviser to Amy Ambatobe, the minister for the environment and sustainable development.
But communities living close to the carbon-rich swamps near Lokolama have welcomed the discovery of peat, hoping it would attract money to better protect their forests which they traditionally use for fishing and hunting.
“As indigenous people, peatlands are part of our heritage and their discovery for the world to see represents a great hope for future generations,” said Valentin Egobo, who speaks for the Lokolama community.
Researchers have been gathering data in the area since 2012. Photograph: Kevin McElvaney/Greenpeace
“We hope our government will support us in our role as guardians of this ancient forest and provide us with the needed support to safeguard peatlands for our children and for the world.
“We did not know the peat was there. This is very important for us but we also need development. Our schools are dilapidated. We are marginalised and impoverished,” Egobo added.
The future of the DRC rainforest may be determined next month when the Norwegian government is expected to decide whether to fund a French Development Agency plan to expand “sustainable” industrial logging in the region. This would allow local communities to benefit from their resources, according to the agency.
But Greenpeace, RFUK and a petition signed by 135,000 people in Norway and the UK have condemned the plan. “Norway risks putting globally significant stores of carbon at risk through misguided support for so-called sustainable forest management in DRC. Instead of expanding large-scale timber-felling, Norway should work with the Congolese government to shut down the half of the country’s logging areas which the law requires to be closed and returned to the state,”, said Simon Counsell, the director of the RFUK.
The need to protect the forests above the peatlands was emphasised last week by a major report showing that there is 40% more carbon stored in forested lands than in known fossil-fuel deposits worldwide.
“Releasing this carbon into the atmosphere through continuing deforestation not only commits us to the worst impacts of climate change, but also results in the loss of a globally important carbon sink.
“Protecting the carbon stored in forests is no different than taking action to ensure fossil deposits like coal stay underground,” said the report’s lead author, Martin Herold of Wageningen University in the Netherlands. |
UK's new grid charge plans could increase bills for solar users | Energy regulator Ofgem's plans to increase grid charges could increase bills for solar powered households. Ofgem plans to reform the UK electricity network by 2020 and aims to rebalance present pay structures. Currently, households that generate solar power pay less for grid upkeep as they use less power, but Ofgem believes that as these homes will use the grid in winter, the payments should be the same as non-solar households. Households will either pay a fixed charge, or be charged for maximum capacity taken from the grid in peak periods. This will likely raise costs for the approximately one million solar-powered homes in the UK. | https://www.pv-magazine.com/2017/11/07/uk-solar-households-could-face-bigger-bills-under-controversial-new-grid-charge-plans/ | 2017-11-11 14:22:39.117000 | With 13 GW of solar installed in the U.K., much of it atop more than 1 million rooftops, PV is poised to play a huge role in electricity generation this summer.
The U.K.’s residential solar sector is facing further cost pressures following the publication of new plans by energy regulator Ofgem to increase network charges for PV households.
The plans are part of a wider overhaul of the U.K.’s electricity network, specifically how it is funded, by 2020. Households currently pay an average of around £120 a year towards maintaining the grid. This figure is levied as part of the unit rate that is charged by utilities for electricity that is supplied to homes via the national grid.
In short, homes that buy more power contribute more in upkeep towards the grid. Solar households obviously buy less power from the grid, because they are able to generate their own electricity for much of the day. Hence, their overall financial contribution to grid upkeep is less than average.
Ofgem is now arguing that this is an unfair situation, particularly in winter when households with solar panels installed will still be as reliant on the national grid as non-solar households.
“We want to make sure that all users pay a fair share of the costs, even if they are only using the networks when their on-site generation is not producing electricity,” said Ofgem senior partner Andrew Wright. The Ofgem proposals are to either make all households pay a fixed charge for connection to the National Grid, or alternatively to link the charge to the maximum capacity drawn from the grid at peak times. If the latter model is adopted, solar homes are likely to pay more than they currently do, while also resulting in lower bills for non-solar consumers.
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Another controversial proposal outlined by Ofgem would be to impose a fee on households that want to fast-charge their electric vehicles (EVs) at home during peak times. The regulator’s concerns are that EV charging during peak hours will deliver additional strain on to the grid, thus necessitating costly upgrades in the region of billions of pounds.
“When one set of consumers pays less, it increases charges for others, including those that are in vulnerable circumstances,” added Wright.
If the proposals are enacted they could impact up to one million households that currently have solar panels installed. While some homeowners enjoy favorable FIT rates, many of the newer installations have very little in the way of subsidy, meaning such regressive charges could have a net negative financial impact on their investment. |
Germany to operate hydrogen-powered trains by 2021 | The world's first hydrogen-fuelled trains will be available on LNVG services on several German train lines by the end of 2021. French engineering firm Alstom is contracted to provide 14 Coradia iLint trains to the rail company. The trains have a range of up to 1,000 km and operate at a maximum speed of 140 km per hour. The only by-product of the trains' hydrogen fuel cells is water vapour, making them a clean replacement for diesel trains on non-electrified tracks. | https://phys.org/news/2017-11-hydrogen-powered-german-rails.html?utm_source=menu&utm_medium=link&utm_campaign=item-menu | 2017-11-10 17:42:12.490000 | In this Sept 20, 2016 file photo visitors look at an Alstom hydrogen-powered train at the InnoTrans international trade fair for transport technology in Berlin. Rail passengers in northern Germany will be able to travel on the world's first hydrogen-powered trains in four years' time. French engineering giant Alstom says it has signed an agreement to deliver 14 fuel cell trains to LNVG, a rail company in Germany's Lower Saxony state. (Serene Stache/dpa via AP)
Commuters in northern Germany will be able to travel on the world's first hydrogen-powered trains in four years' time.
French engineering giant Alstom says it has signed an agreement to deliver 14 fuel-cell trains to LNVG, a rail company in Germany's Lower Saxony state.
The trains will begin operating on routes between Cuxhaven, Bremerhaven, Bremervoerde and Buxtehude from December 2021.
Alstom said Thursday that the Coradia iLint trains will have a range of up to 1,000 kilometers (621 miles) and a maximum speed of 140 kilometers per hour (87 mph).
Hydrogen engines emit only water vapor and are considered one of the cleanest forms of transportation. The trains will replace diesel vehicles on non-electrified tracks.
There are plans to produce the hydrogen using electricity from Lower Saxony's many wind turbines.
© 2017 The Associated Press. All rights reserved. |
Greece installs first large-scale solar plants in two years | The first large-scale solar plants to be installed in Greece since 2015 have been completed. The three PV plants, built by Greek oil firm Hellenic Petroleum, have a combined capacity of 8.6 MW. The company was not heavily involved in renewables prior to the projects, having installed a total of just 1.4 MW of solar PV. The three facilities were developed under the Greek government's new policy framework for renewables, an auction system with feed-in premiums for successful projects.
| https://www.pv-magazine.com/2017/11/09/greece-installs-its-first-large-scale-solar-under-new-auction-based-scheme/ | 2017-11-10 16:30:28.127000 | Greece’s Hellenic Petroleum, a company that focuses mainly on the supply, refining and trading of petroleum products in Greece and abroad, has installed the country’s first large-scale, ground-mounted PV installations since 2015.
The newly added capacity comprises two PV plants of 1 MW and 4 MW each respectively, while a third 3.6 MW PV plant is also installed and will connect to the grid in the following days.
pv magazine reported in June that Hellenic Petroleum had secured financing to develop 190 MW of combined solar PV and wind power capacity in Greece.
This is not to suggest that Hellenic Petroleum has achieved an innovative business model that allows it to install subsidy-free PV plants. The company has only used Greece’s new policy framework for the support of renewable energies. The new policy is based on auctions and rewards successful projects with feed-in premiums. Greece’s inaugural tender under the new policy scheme ran in December 2016, awarding 40 MW of projects.
All in all, this is a rather significant step for Hellenic Petroleum, which is not famous for its engagement with renewable energies. Hellenic Petroleum Renewable Energy Sources, a wholly owned subsidiary of the parent company, was founded in 2006 aiming to invest in renewable energies, but until a few weeks ago the company had installed a mere 1.4 MW of photovoltaics and 7 MW of wind power capacity.
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Hellenic Petroleum’s new 1 MW plant was connected to the grid 8 months ahead of the time specified in the auction rules, while the two larger plants were built 14 months ahead of a similar time requirement.
Another company that failed massively to engage with renewable energies under the old scheme based on generous feed-in tariffs, is Greece’s incumbent utility PPC. Similar to Hellenic Petroleum, the PPC has also announced belated plans to invest is solar, however PPC’s strategy is far from secure because the company has not been awarded tender projects.
Greece’s government has not announced a new renewable energy auction, however some solar PV activity also takes place in the country via its net metering scheme. |
Sunrun set to overtake Tesla as biggest US residential solar firm | US solar energy company SunRun could become the largest residential solar company in the US by next year, current trends imply, as it continues to gain ground on its competitors. The company installed 90 MW of solar PV in the third quarter of this year, making it the only player on the field still noticeably expanding. Tesla/SolarCity and Vivint, meanwhile, have both scaled back their installations and moved away from the third-party model. | https://www.pv-magazine.com/2017/11/09/sunrun-within-striking-distance-of-teslas-solar-market-share/ | 2017-11-10 16:24:49.910000 | As the U.S. residential solar market contracts, one company is bucking the trend: Sunrun. While both Tesla/SolarCity and Vivint have both substantially scaled back installations this year and moved away from the third-party solar model, Sunrun has continued to grow, and has held on to a high share of third-party sales.
During Q3 of 2017 Sunrun deployed 90 MW of solar PV, an increase on both a year-over-year and sequential basis. This is only 17% less than Tesla/SolarCity’s 109 MW, and suggests that if current trends continue Sunrun could be the largest residential solar company in the nation as early as 2018.
Sunrun’s attachment to the third-party solar model has meant that the company continued to lose money in Q3, with a net loss of $80 million versus $141 million in revenue. This number is slightly higher than a year ago, but not unusual for Sunrun or any company whose sales are based on third-party solar.
Instead, while experiencing quarterly losses third-party solar companies build long-term value in the form of volumes of leases and PPAs with their customers. And while Sunrun’s increase in retained value cannot be compared to other companies due to its use of unique metrics, the company reports that it increased its Net Earning Assets $97 million during the quarter, to bring it to $1.2 billion.
And due to this timing of reaping value over the course of decades, for third-party solar companies to grow they must continually raise money. This includes using the rooftop PV systems they have deployed as collateral, and Sunrun Chair Ed Fenster says that the company will be regularly be issuing asset-backed securities beginning in 2019.
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Sunrun also received $40 million in financing from Quebec pension fund CDPQ in November.
However, if Sunrun is not worried about financing, it is concerned about the Section 201 trade case. Sunrun Chair Ed Fenster has been a main speaker in Solar Energy Industries Association’s (SEIA) campaign to oppose trade action through the case, but the company is also preparing for the worst, and admits that it has accelerated procurement of modules in the event of significant tariffs.
Sunrun’s install costs have been rising over the last year, even as its sales & marketing and general and administrative costs have fallen. Higher module prices would increase its costs, however Sunrun still has a pretty big spread between its cost to deploy solar and the long-term value that it reaps. The company’s Net Present Value has hit $1.15 per watt, its highest to date.
During Q3 Sunrun booked 93 MW of solar, but expects to only deploy 87 during Q4, for a total of 325 MW this year. If this is achieved, this will be a 15% growth over 2016. |
Delhi to purchase 1 GW of renewables to cut pollution | The city government in Delhi will give power distribution companies the opportunity to tender for 1 GW of renewable energy by 2019. The move is intended to help address the problem of air pollution, with the city's power minister saying they will source even more electricity from renewables if necessary. Three in-principle agreements have already been made with distribution companies, and the tendering process is being run by the Solar Energy Corporation of India (SECI), an Indian central government agency. The projected purchase price is INR3 ($0.046) per kWh. | https://www.renewablesnow.com/news/delhi-to-buy-1-gw-of-renewable-power-by-2019-report-589817/ | 2017-11-10 16:22:31.300000 | November 6 (Renewables Now) – Power distribution firms in Delhi will be able to buy 1,000 MW of renewable power by 2019 in an effort to fight air pollution, Delhi's power minister said on Friday.
Cited by the Press Trust of India (PTI), Minister Satyender Jain explained that the city government will get more electricity from clean energy sources, if needed. He added that an in-principle agreement has already been made with three discoms. The tendering process will be overseen by central government agency Solar Energy Corporation of India (SECI), with the projected purchase price being under INR 3 (USD 0.046/EUR 0.040) per kWh.
Jain noted, as quoted by the PTI, that the average price for purchasing electricity in Delhi currently stands at INR 5.50 per kWh.
The Indian city has set a goal of producing 1,000 MW of solar power by 2020 under its solar energy policy from June 2016.
(INR 10 = USD 0.155/EUR 0.133)
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European Investment Bank loans $100m for Mexican wind farms | The European Investment Bank (EIB) is providing a $100m loan to finance the construction of two wind farms in Mexico. The funds are being provided to the Mexican state-owned bank NAFIN, which will use them to provide finance to private sector companies developing a 200 MW wind farm in the northern state of Coahuila and a 130 MW plant in Zacatecas in the centre of the country. The deal follows the signing of a memorandum of understanding between the EIB and NAFIN in March to pursue renewable energy projects. | https://www.renewablesnow.com/news/eib-lends-usd-100m-to-nafin-for-wind-in-mexico-589859/ | 2017-11-10 16:20:10.470000 | The European Investment Bank (EIB) is providing a USD-100-million (EUR 86m) loan to Nacional Financiera (NAFIN), a Mexican government-owned development bank, which will be used to support wind farm projects in Mexico.
The funds will be on-lent to private sector borrowers to aid the development of a 200-MW wind farm in the northern Mexican state of Coahuila and a 130-MW wind farm in the state of Zacatecas, central Mexico.
Announcing the signing of the loan last week, the EIB said that wind energy development supports Mexico's renewable energy targets and the EIB's objectives in the areas of renewable energy and energy efficiency and climate action. The agreement follows the signing of a memorandum of understanding (MoU) in March to strengthen cooperation between the institutions.
"With this financing operation, one of the first ones between EIB and Mexico's public sector, EIB and NAFIN are initiating a strategically important cooperation that will provide further support to sustainable energy solutions across the country and thereby help Mexico and the EU contribute to the fight against climate change," said EIB vice-president Roman Escolano, who was in Mexico for meetings with government officials.
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HSBC lays out $100bn sustainable investment target for 2025 | UK bank HSBC is set to strengthen its support for renewable energy and low-carbon technology, aiming to invest $100bn in the field by 2025. The announcement comes alongside a number of other environmental commitments HSBC is making as part of an update to the bank's social, environmental and governance responsibilities. These include a pledge to source all of the bank's electricity renewably by 2030, and to reign in its financing of coal-fired power stations in developed countries. | https://www.renewablesnow.com/news/hsbc-sets-usd-100bn-sustainable-financing-goal-by-2025-589931/ | 2017-11-10 16:17:14.040000 | HSBC Holdings plc (LON:HSBA) has set a goal to provide USD 100 billion (EUR 86bn) in sustainable financing and investment by 2025.
The UK bank said it will increase its support for clean energy and lower-carbon technologies, and projects in line with the UN's Sustainable Development Goals.
HSBC unveiled the goal today along with four other commitments as part of an update on measures related to its social, environmental and governance (ESG) responsibilities.
The other objectives include sourcing 90% of the group's electricity from renewable sources by 2025 and 100% by 2030. The bank has also pledged to reduce its exposure to thermal coal, which includes stopping to finance new coal-fired power plants in developed countries and thermal coal mines around the world.
HSBC further promises to improve transparency on climate-related risks and opportunities and to promote the development of industry-wide definitions and standards about sustainable finance and investment.
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Octopus Investments raises £80m in new financing | Renewable financing company Octopus Investments has raised a further £80m ($104m) from a refinancing deal after an earlier one in which it raised £484m. The firm, which claims to be the largest commercial solar investor in Europe, is part of the Octopus Group, which manages more than £7bn ($9.16bn) in funds. As well as 622 MW of solar assets, it also has investments in wind and other renewable sectors. The latest deal involves banks that were part of its original refinancing, including Barclays, BNP Paribas, RBS and Santander.
| https://www.pv-magazine.com/2017/11/09/octopus-investments-expands-refinancing-with-gbp-80-million/ | 2017-11-10 16:15:21.760000 | Octopus Investments’ total facility size now stands at GBP 564 million ($739 million), and its solar portfolio now consists of 622 MW of assets.
After the fund closed a refinancing deal worth GBP 484 million ($634.5 million) earlier this year, Octopus closed new financing for a further GBP 80 million ($104 million), from banks which were already part of the syndicate of lenders involved in the original refinancing.
These nine original banks are Banca IMI, Barclays, BNP Paribas, CaixaBanks, Royal Bank of Scotland, SMBC, AIB, Sabadell and Santander Global Corporate Banking.
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“Our asset management team has delivered on expectations with high quality reporting to a group of experienced lenders,” says Matt Setchell, Head of Energy Investments at Octopus. “They are impressed with the results, and followed up just six months after the original deal with more funding.”
Octopus Investments claims to be the largest commercial solar investor in Europe, and also invests wind and other renewable energy sectors. It is a part of the Octopus Group, which manages more than GBP 7 billion in funds. |
NRG Energy seeks $350m to build three solar plants in Hawaii | US power company NRG Energy is said to be seeking around $350m of funding to complete the construction of three solar power plants in Hawaii. Purchased from bankrupt SunEdison in 2016, the projects have a combined capacity of 109.6 MW. CIT Group has reportedly been chosen to lead the financing deal, and NRG has signed new power purchase agreements with Hawaiian Electric, after the previous ones with SunEdison were cancelled.
| https://www.renewablesnow.com/news/nrg-looking-for-financing-for-hawaii-solar-projects-report-590231/ | 2017-11-10 16:09:27.707000 | US power producer NRG Energy Inc (NYSE:NRG) is looking for about USD 350 million (EUR 302m) in financing to construct three solar power plants in Hawaii, Bloomberg reported on Tuesday, citing people with knowledge of the deal.
NRG acquired three projects from bankrupt SunEdison Inc in 2016. They have a combined capacity of 109.6 MW and include the 49-MW Kawailoa, the 45.9-MW Waipio and the 14.7-MW Lanikuhana photovoltaic (PV) parks. The company signed new power purchase agreements (PPAs) for the plants with Hawaiian Electric Co, which had cancelled the original ones with SunEdison.
According to the Bloomberg article, NRG has picked CIT Group Inc to lead the financing deal.
Reporting third-quarter results last week, NRG said it expects to sell 100% of its interest in NRG Yield Inc (NYSE:NYLD.A) and its Renewables platform as part of its transformation plan, launched in July. The company targets up to USD 4 billion of cash proceeds from asset sales.
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Loraxian raises $50m for global growth in infrastructure projects | Canadian renewable energy firm Loraxian has raised $50m of new investment to finance the growth of its business within its home country and across Asia and the Middle East. The funding comes from the company's new partner, Hong Kong investment firm Treasure Union. Loraxian has said it will use a significant part of the new capital to acquire key technologies currently used in its infrastructure projects. | https://www.renewablesnow.com/news/renewables-infrastructure-firm-loraxian-raises-usd-50m-590267/ | 2017-11-10 16:06:59.737000 | Canadian renewable energy and infrastructure company Loraxian Inc has closed a USD-50-million (EUR 43.1m) series B funding round with Treasure Union Ltd of Hong Kong, a new partner.
Loraxian will use the funds for global growth, focusing initially on Canada, Asia, and the Middle East, it said last week. A significant part of the proceeds will be spent to "strategically" acquire key technologies currently used in the company's infrastructure projects.
The Canadian company says it takes a systematic approach to all phases of the life of an infrastructure asset. It develops, builds, finances, procures, operates, maintains and owns building and energy infrastructure assets with a focus on southeast Asia and North America.
"We also look forward to expanding our relationship with Treasure Union as they support us in funding the growth in global projects in addition to this initial investment," said Loraxian founder and chief executive Roland Kielbasiewicz.
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ContourGlobal targets £507m in London IPO | US energy company ContourGlobal expects to raise £507m ($665.6m) when it floats on the London Stock Exchange. The IPO includes 122.4 million new and 54.03 million existing shares, with an over-allotment option of up to 26.46 million shares granted. Unconditional dealing is expected to begin on 14 November. Proceeds will be used to strengthen the balance sheet and fund growth. ContourGlobal will retain a stake of 69% to 73% depending on over-allotments. The firm has 69 power plants in 19 countries, with 31% capacity from natural gas/methane, 29% coal, 21% wind, 14% hydro, 3% oil and 2% solar.
| https://www.renewablesnow.com/news/contourglobal-to-raise-up-to-gbp-507m-from-london-ipo-590358/ | 2017-11-10 16:05:16.167000 | ContourGlobal plc (LON:GLO) expects its initial public offering (IPO) in London to raise up to GBP 507 million (USD 665.6m/EUR 574.4m), including over-allotments, after pricing it at GBP 2.50 per share.
With no over-allotments, the proceeds will be GBP 441 million.
The company, which has 2.64 GW of thermal and 1.5 GW of renewable gross power capacity, will get GBP 306 million of gross proceeds. It previously said it planned to use the amount raised to further strengthen its balance sheet and ensure further flexibility to fund future growth.
The offer includes 122.4 million of new shares and 54.03 million of existing shares. Stabilising manager Goldman Sachs International has been granted an over-allotment option of up to 26.46 million shares.
ContourGlobal LP, the major shareholder, will be left with a stake of 73% with no over-allotments, or 69% if the over-allotment option is exercised in full. At admission, ContourGlobal plc will have 670.7 million shares in issue, with a free float of between 25% and 29%, depending on over-allotments.
Conditional dealings in the shares on the London Stock Exchange (LSE) starts today, while commencement of unconditional dealings is expected on November 14. At the IPO price the market capitalisation of the company arrives at nearly GBP 1.68 billion.
PORTFOLIO
ContourGlobal has 69 power plants in 19 countries. Natural gas and methane account for about 31% of its capacity, 29% is coal and 21% is wind. In addition, 14% of the portfolio is hydropower plants (HPPs), 3% is oil and the remaining 2% come from solar power plants.
The company is focused on long-term contracted wholesale power generation, targeting high margins at lower risks relative to other segments in the power sector. Europe is its main market with 2,488 MW of capacity, followed by Latin America with 1,424 MW, and Africa with 228 MW. These figures are for the end of June 2017.
(GBP 1 = USD 1.31/EUR 1.13)
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Brazil's Iberdrola-controlled Neoenergia prices IPO around $880m | Brazilian utility Neoenergia could raise $880m in its initial public offering (IPO) after announcing an indicative price ranged around BRL16.77 ($5.10) for the shares. The company is active in the wind and hydropower sectors, with a combined capacity of 3,546 MW in operation or under construction and a further 530 MW of thermal power generation. Spain's Iberdrola will continue to be its majority shareholder with an interest of 51%, while two other existing investors will reduce their stakes. Neoenergia was merged with Iberdrola's Elektro Holding earlier this year.
| https://www.renewablesnow.com/news/neoenergia-could-raise-some-usd-880m-in-brazil-ipo-590427/ | 2017-11-10 16:02:02.387000 | Neoenergia SA, the Iberdrola-controlled Brazilian utility with a solid renewables portfolio, announced an indicative price range of BRL 15.02 to BRL 18.52 per share for its upcoming initial public offering (IPO).
Based on a price of BRL 16.77 apiece, the midpoint of the range, the company and two of its shareholders could raise a total of BRL 2.857 billion (USD 880m/EUR 756m) by selling some 170.3 million new and existing shares. This excludes an additional 34 million common shares that could be offered to cover over-allotments.
Neoenergia targets at least BRL 1.155 billion in proceeds from a primary offering. It points out in the filing that if the secured sum is below that level, it may sell more shares.
The existing shareholders that plan to sell stock are Banco do Brasil SA and pension fund Previ. They could raise BRL 1.567 billion and BRL 134 million, respectively, in a secondary offering.
According to the filing, Spain’s Iberdrola (BME:IBE) will continue to be the majority shareholder in Neoenergia following the IPO, with an interest of 51%, while Banco do Brasil and Previ would cut their stakes to 0.37% and 33.84%, respectively. Currently, the two selling stockholders hold stakes of 9.35% and 38.2%.
During the summer, Iberdrola completed the merger of Neoenergia with its Brazilian unit Elektro Holding SA to create Brazil’s largest electricity utility by number of customers. The firm is active in the wind power segment through Forca Eolica do Brasil. Its total wind and hydropower capacity, either in operation or under construction, amounted to 3,546 MW at the time of the transaction. The company also has 530 MW of thermal power generation capacity.
(BRL 1.0 = USD 0.308/EUR 0.265)
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Solar Alliance purchases US renewables engineering firm Aries | Canada's Solar Alliance Energy has acquired US company Aries Solar in a deal worth around $1m. The purchase gives Solar Alliance control of the 45 commercial solar schemes that Aries has in development, worth a total of $18m in potential revenue. Aries has licences to operate in four south-eastern US states and has installed 5 MW of photovoltaic solar capacity to date. The company specialises in engineering, procurement and construction services in the commercial solar sector.
| https://www.renewablesnow.com/news/solar-alliance-closes-buy-of-epc-firm-aries-solar-590539/ | 2017-11-10 15:59:56.337000 | Canadian firm Solar Alliance Energy Inc (CVE:SAN) has wrapped up the acquisition of US-based Aries Solar LLC and its pipeline of commercial solar projects.
The target entity and all of its assets were bought from Thompson Machinery Commerce Corp in a contingent payment deal of up to USD 1 million (EUR 859,300), Solar Alliance said on Wednesday. The acquired project pipeline includes 45 commercial solar schemes in different stages of development, including prospecting, proposal and contract negotiations. If constructed, the projects will bring a potential revenue of about USD 18.8 million, the buyer announced previously.
Aries Solar is engaged in the provision of engineering, procurement and construction services for the commercial solar sector. It has licences to operate in four Southeast US states and has installed 5 MW of photovoltaic (PV) capacity.
The acquisition is part of Solar Alliance’s plan to enhance its activities in the residential, commercial and utility-scale solar sectors, CEO Jason Bak noted, adding that it will also lead to a material increase in revenues. For Aries Solar, it is seen as an opportunity for the addition of more services to its offerings, according to Harvey Abouelata, former president of Aries Solar. Abouelata will take the post of vice president commercial solar at Solar Alliance following the deal.
(USD 1.0 = EUR 0.859)
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China may double 2020 solar target after smashing previous goal | Influential think tank, the China National Renewable Energy Centre (CNREC), has recommended the country's 2020 solar target be increased from 110 GW to 200 GW, after China surpassed the existing target in August 2017. CNREC also suggested ending the approving of new coal capacity and throwing the state's weight behind more wind and bioenergy projects. The government's National Energy Administration will ultimately decide whether to act on the proposals. | https://www.pv-tech.org/news/influential-think-tank-recommends-200gw-solar-target-for-china | 2017-11-10 15:58:22.243000 | The Chinese government should increase its 2020 solar target from 110 to 200GW, according to the China National Renewable Energy Centre (CNREC).
The think tank is the main advisor to the government’s National Energy Administration (NEA), which would be ultimately responsible for acting on the recommendation. In August, the continuing boom of installations saw the country edge past its existing 2020 target.
CNREC also recommended increases to wind and bioenergy targets and a halt to the approval of new coal power capacity.
Frank Haugwitz, of the Asia Europe Clean Energy Advisory (AECEA), which highlighted the recommendation in a briefing note, considers the target to be achievable.
“The recommended ‘new’ solar PV target in AECEA’s opinion will be realized, if not exceeded by approx. 15-20%,” he wrote.
“Overall, China is in the midst of its own energy transition, a process which will last for years and decades to come. In this context, obviously the utilization of locally available renewable energy resources will play a significant role, due to that over the past years sentiments towards RE have changed. China’s president Xi Jinping’s call for an energy revolution in the summer of 2014, an overdue, but fundamental power sector reform finally initiated in March 2015, a thoroughly revised version of the Renewable Energy Portfolio (RPS) effective since early 2016, the introduction of a voluntary domestic carbon emission trading scheme in July 2017 among a host of other initiatives and policies all designed to make this grand energy transition happen.
“Finally, it remains to be seen to which extent China’s National Energy Administration will follow CNREC’s proposed recommendations. In AECEA’s view, they certainly will be taken into consideration and shall serve as the reference when drafting new policies,” added Haugwitz. |
ITM Power wins funding to study power-to-gas storage feasibility | ITM Power has won funding to further explore the potential for using power-to-gas technology in energy storage. The UK-based hydrogen energy specialist is working on the technique, in which electricity is used to split water into hydrogen and oxygen, with the hydrogen then stored for later use. The funding from the UK government's Department for Business, Energy and Industrial Strategy will allow ITM, in partnership with gas distributor Northern Gas Networks, to study the feasibility of using the technology in large-scale storage facilities. | https://www.renewablesnow.com/news/itm-power-wins-govt-funding-to-explore-power-to-gas-storage-590482/ | 2017-11-10 15:57:22.887000 | UK hydrogen specialist ITM Power (LON:ITM) has secured government funding to study the potential deployment of large-scale power-to-gas energy storage in partnership with gas distributor Northern Gas Networks Ltd (NGN).
The companies will conduct a feasibility study with a focus on deployments of more than 50 MWh within NGN's gas network. The examination will provide technical, economic and site-specific information about large-scale power-to-gas storage and will enable a decision on a potential large-scale demonstration project, ITM Power said.
Power-to-gas energy storage converts electricity into hydrogen which can be injected and stored in the gas network.
"As renewable power generation increases, effective storage and transmission of surplus power will become ever more important," noted Northern Gas Networks chief executive Mark Horsley. Part of the project will take place at InTEGReL, the company's whole systems facility near Gateshead.
Funding for the project has been secured as part of the energy storage feasibility study competition, launched by the Department for Business, Energy and Industrial Strategy (BEIS) in January 2017.
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Scotrenewables launches funding round for tidal turbine | A Scottish power company is launching a funding round to seek investment to support the development of its first tidal arrays. Scotrenewables Tidal Power has successfully tested its SR2000 turbine at the European Marine Energy Test Centre in Orkney over the past year. During the trials, it generated more than 116 MWh in under a week, with 6 MWh generated in a single tide. The firm has hired Simmons & Company International, a division of US bank Piper Jaffray, to organise the funding round from Aberdeen.
| https://www.renewablesnow.com/news/scotrenewables-embarks-on-funding-round-589880/ | 2017-11-10 15:50:13.393000 | Scotrenewables Tidal Power Ltd, the Scottish firm developing the 2-MW floating SR2000 tidal current turbine, said today it is launching a funding round to obtain further equity investment.
The company will use the amount raised to support the completion of its commercialisation programme and deliver its first commercial tidal arrays, said chief executive Andrew Scott.
Simmons & Company International, part of US investment bank Piper Jaffray Co (NYSE:PJC), has been hired to run the fundraising effort out of its Aberdeen office.
Scotrenewables is looking to secure new equity after successful testing over the past 12 months, which, as announced in September, saw the SR2000 turbine generate more than 116 MWh in under a week of continuous generation at the European Marine Energy Test Centre (EMEC) in Orkney. The company said that in recent days the SR2000 has been showing daily generation of over 20 MWh, including 6 MWh in a single tide.
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Kosovo to begin auctioning licences for solar projects | Kosovo is set to auction licences for large-scale solar projects "in the near future" in a plan hoped to raise €100m ($117m), according to Minister of Economic Development Valdrin Lluka. It would be the country's first serious push into the solar market, but Lluka gave no details about project size and the procurement process. The move follows criticism from the European Commission about the state of Kosovo's energy market, its tariff system and paucity of renewables despite the country enjoying more than 2,000 hours of sun per year.
| https://www.pv-magazine.com/2017/11/06/kosovo-announces-auction-scheme-for-solar/ | 2017-11-10 15:48:09.823000 | Kosovo’s Minister of Economic Development Valdrin Lluka has announced that his ministry will start to grant licenses for large-scale solar projects in the near future, and that projects will be selected through an auction mechanism.
Lluka added that he believes this new auction mechanism may raise investments in solar in Kosovo in the amount of around €100 million. No more details were given about the future procurement process, nor on the size of projects that may be able to compete. If implemented, the future auction scheme will be the first serious effort of the local government to make solar part of the country’s energy mix.
In its long-term energy strategy, the expected addition of renewable capacities is 240 MW, just 10 MW of which is expected to come from solar PV. Under the FIT program run by the Ministry of Agriculture, 101 PV systems totaling 77 kW were installed in 2014, while another 135 installations with a combined capacity of 364 kW came online in 2015.
The European Commission has recently urged Kosovo to do more for the development of renewable energies. The EC said that the energy reforms recently implemented by the local government are not sufficient to improve the country’s troubled power market, which still relies heavily on coal and electricity imports.
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According to the EC, Kosovo’s energy market suffers from outdated production capacity, as well as low energy efficiency, a non-liberalized energy market and a tariff system that does not reflect real costs. Kosovo, however, has a considerable solar potential with an average of 278 sunny days and 2000 hours of sun per year.
With 2 million inhabitants, Kosovo is still a disputed land between Republic of Serbia, which claims it as its own territory, and the Republic of Kosovo. Currently, 111 out of 193 member states of the United Nations have recognized Kosovo as an independent state. |
Click Tenant finds scammers using free listings to con tenants | Lettings company Click Tenant has discovered that fraudsters are using free listings to trick tenants into paying upfront fees for fake lodgings. Click Tenant advertises landlords' properties free on Zoopla and Rightmove, and has uncovered bogus landlord connections to criminal gangs specialising in rental fraud in the one month since it started operating. Click Tenant was formed out of successful online rental businesses Student Tenant. Click Tenant's managing director, Danielle Cullen, said: "Our team works very hard in these instances to prevent these operations from being executed before they reach the tenants."
| http://www.propertyindustryeye.com/online-lettings-platform-that-lets-landlords-upload-their-own-properties-uncovers-ruthless-rental-scams/ | 2017-11-10 15:43:48.337000 | Post navigation
A new online lettings business that allows landlords to upload their own properties says it has uncovered a number of rental scams.
Click Tenant, which launched only at the end of last month, has already reported one case – where a bogus landlord was believed to be operating as part of a gang – to the police.
ClickTenant, which advertises landlords’ properties free on Rightmove and Zoopla, offers services including full management said to be at an unmatched low price.
Managing director Danielle Cullen said that criminals are advertising false properties with high-quality photos in prime locations and at reasonable rents.
Tenants are then lured into paying upfront fees for a property that either does not exist or has been let to multiple victims at the same time.
One bogus landlord attempted to contact interested tenants over a weekend, to request large sums of money.
Another was found to be part of a criminal gang specialising in rental fraud.
Cullen said: “Every property platform that allows landlords to upload their own adverts will be vulnerable to these types of potential scams.
“As ClickTenant.com is a newly launched website, fraudsters believe we will be vulnerable and unable to spot this criminal activity.
“Unlike other new businesses, we have been successfully operating StudentTenant.com for a number of years, and have built up a wealth of invaluable experience in situations like these.
“We’ve been able to use this to assist tenants to ensure they do not fall victim to such ruthless schemes.
“Our team works very hard in these instances to prevent these operations from being executed before they reach the tenants.
“It’s common practice for all of our staff to inform potential tenants to never part with any money in any instance – potential scammer or not.
“We also advise not to have direct contact with would-be landlords without our input.
“We have been able to uncover several potential attempts to request large sums of money, and work very closely with the tenants to ensure the relevant authorities and fraud teams are made aware.”
Reports of rental fraud to police in England and Wales leapt from 2,216 in 2014 to 3,193 in 2015 – the latest year for which there is data. |
Oil majors, energy traders, banks to form blockchain platform | Oil majors including BP, Shell and Statoil have joined forces with several banks and energy traders, such as Gunvor and Mercuria, to launch a blockchain platform for digital transactions in the energy sector. The platform, set to go live by the end of next year, will operate as an independent entity, and aims to cut costs by enabling producers to sidestep electricity suppliers and deal directly with customers, while transactions are recorded via smart contracts on the blockchain to improve efficiency. However, analysts warn the nascent blockchain system faces potential regulatory obstacles and must overcome the technical issue of anonymity. | https://www.pv-magazine.com/2017/11/06/energy-majors-traders-and-banks-unite-to-create-blockchain-platform/ | 2017-11-10 15:41:57.277000 | The new venture will comprise the likes of energy giants such as BP, Shell and Statoil; traders like Gunvor, Koch Supply and Trading and Mercuria; and banks like ABN Amro, Societe Generale and ING. It will also operate and be managed as an independent entity, aiming to launch and operate the new blockchain-based digital platform by the end of 2018.
Physical energy transactions from trade entry to final settlement will be implemented via the blockchain platform, which envisions that over the time all energy will be transacted via decentralised blockchain models.
The new venture has the potential to become a big step for blockchain technology, which has not yet reached maturity and requires further development. The event that leading financial institutions also participate in the new venture is highly encouraging, given that the Bitcoin crypto-currency is the largest and most successful application of blockchain to date.
Technological and regulatory challenges
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Several challenges, both technological and regulatory, remain. The fundamental idea behind blockchain is to remove the so-called middle-men (e.g. electricity suppliers or aggregators) in the energy trade. Where a power generator and a customer agree a transaction, they agree the terms and details of it and trade electricity peer-to-peer without needing intermediates. Their transactions are encrypted, distributed and stored to the individual computers that form the chain. For a transaction to be implemented, its details and terms need to be verified by all individual computers comprising the chain (this is a process called ‘mining’).
Members of a blockchain can either be identified or not. Bitcoin (in the area of financial services) for example keeps the identity of the participants anonymous. Other systems may require the identity of participant to be disclosed before entry to the blockchain. It is highly interesting to see which option the new blockchain platform will opt for, given specifically that models based on anonymity increase operating costs and require great IT power to perform fast.
On the regulatory side, it will be useful to see how the smart, digital contracts will be used in the new platform. In the traditional electricity model used today, there are clearly defined responsibilities of supply and operation for both the power suppliers and the networks operators. In the case of decentralised blockchain units, such units rely on the distributed register (the ‘ledger’) and decisions are taken by consensus on the basis of a computer code. The new blockchain platform can offer lessons on this front too. |
Shift to 100% renewable power 'cheaper' than fossil-fuel system | The world can shift to 100% renewable electricity sources by 2050 using today's technology and be more cost effective than the present fossil-fuel based system, according to research from Finland’s Lappeenranta University of Technology and Energy Watch Group. By 2050, 100% of power demand could be met by current renewable technologies, at a global average levelised cost of electricity (LCOE) of €52/MWh, compared with 2015’s average LCOE of €70. Solar PV would cover 69% of electricity supply, wind 18%, hydro 8% and bioenergy 2%. About 31% of demand would be met by energy storage, of which 95% would be from batteries and the remainder from power-to-gas technology. | https://www.pv-magazine.com/2017/11/08/energy-watch-group-100-renewable-electricity-is-both-feasible-and-cost-effective/ | 2017-11-10 15:36:39.287000 | The study, ‘Global Energy System Based on 100% Renewable Energy – Power Sector’ was presented during the Global Renewable Energy Solutions Showcase event, a sideline to the United Nations Climate Change Conference COP23 currently underway in Bonn.
The study’s key overall finding is that a global shift to 100% renewable electricity is feasible with current technology, and would be more cost effective than the current system led by fossil fuels and nuclear generation.
The study found that in a projected scenario for energy demand in 2050, 100% could be met by current renewable technologies, at a global average LCOE of €52/MWh, compared with 2015’s average LCOE of €70.
In EWG’s 2050 scenario, solar PV covers 69% of electricity demand, wind 18%, hydro 8% and bioenergy 2%. The study predicts that wind will briefly overtake solar in the 2020s, before further price drops put solar back in the lead.
Storage is outlined as the key supporting technology for solar, with around 31% of total demand covered by storage technologies. 95% of this is projected to come from short term storage provided by batteries, with power to gas conversion providing seasonal storage.
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“There is no reason to invest one more dollar in fossil or nuclear power production,” exclaims EWG President Hans Josef. “All plans for a further expansion of coal, nuclear, gas and oil have to be ceased. More investments need to be channeled in renewable energies and the necessary infrastructure for storage and grids. Everything else will lead to unnecessary costs and increasing global warming.”
The report is based on an original model developed by Lappeenranta University of Technology, which calculates the most cost-effective mix of technologies based on available resources in 145 regions for a full reference year. The full study is published here.
Only time will tell whether this study’s recommendation will translate into reality. As lead author Christian Breyer sums up: “Energy transition is no longer a question of technical feasibility or economic viability, but of political will.” |
EU directive to reduce barriers to offering retail banking | European banks will face increased competition and disruption following the 2018 implementation of the EU Revised Payment Service Directive (PSD2). It will require banks to open up their application programme interface and provide customer account details, seriously eroding their monopoly. Barriers to entry, such as the requirement for a single licence, are set to be lowered for non-banks offering financial services, while tech-savvy customers demanding faster and more efficient services will force established institutions to adapt or lose custom. The directive will introduce two types of financial service provider, account information service providers (AISP) and payment initiation service providers (PISP). | https://www.evry.com/en/news/articles/psd2-the-directive-that-will-change-banking-as-we-know-it/ | 2017-11-10 14:56:53.247000 | Our insights
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Samsung Pay enjoys India success | Samsung Pay is thriving in India, where it has added one million users in just over a month. The country recently edged past the US to become Samsung's third-biggest market. The success is down to both the government's recent demonetisation policy, and widespread smartphone adoption that has propelled India to become the world's second-largest smartphone market. In addition, the integration of Samsung Pay into 17 financial institutions has helped establish the company's presence. However, more intense competition is expected soon from WhatsApp and Paytm.
| https://paymentweek.com/2017-11-10-samsung-pay-spikes-india/ | 2017-11-10 14:54:44.143000 | Samsung Pay Spikes in India
November 10, 2017 By: Steven Anderson
Mobile payments are increasingly a big deal in India, thanks to the government pulling the bottom out of the currency by declaring a large chunk of it worthless. Mobile payments systems became one of the great responses to this development, and companies like Paytm reaped the rewards. In fact, developments on this front got so substantial that some firms saw huge gains. Recently, word out of Samsung India noted that Samsung Pay took just over a month to add another million users to its lineup.
Samsung Pay enjoys at least a modicum of success worldwide. It’s got nearly 6.44 million users just in South Korea, and that’s one of its biggest markets. Russia is also one of the top three, and now, thanks to the big gains seen in recent days, India is Samsung Pay’s third-largest market.
Further developments prove why India is such a ripe market for mobile payments; not only is the government actively hostile to its own currency as demonstrated by the demonetization effort, but India is now the second-largest market for smartphones on the planet, having just beaten the United States. Throw in the fact that 17 financial institutions—10 of them banks—are now supporting Samsung Pay’s Indian operations with more likely to follow in the coming days and it’s easy to see why Samsung’s gaining ground in India.
It’s good news for Samsung—it already has a Samsung Pay presence in 20 different markets and is available on several devices—and it’s also noteworthy news for India. It’s proving that India is already a pretty substantial market for mobile payments, and based on everything we’ve seen so far, it’s not likely that that’s going to cool off.
With WhatsApp looking to add payments, Paytm looking to add chat, and plenty of other firms making moves on the market, the fact that Samsung has any kind of a foothold at all in the Indian market is something to be pleased about. It’s likely to be a difficult market going forward, and Samsung Pay—if it wants to hold onto that market—should be making plans accordingly.
Still, Samsung has clearly made a splash in India. Given that there are over a billion people in India right now, though, that million isn’t the advance some might think. |
Aldi, Vemno partner for free meals on Thanksgiving | Peer-to-peer mobile payment service Venmo has created a new emoji specifically for its Thanksgiving partnership, with retail grocery chain Aldi. The joint celebration is being called "Friendsgiving". Under the partnership, Aldi will supply 10 meals free of charge to US charity Feeding America every time a Venmo subscriber uses a special turkey hand friendship emoji. There are up to one million free meals available.
| https://paymentweek.com/2017-11-9-aldi-venmo-together-thanksgiving/ | 2017-11-10 14:48:49.977000 | Aldi and Venmo: Together for Thanksgiving
November 9, 2017 By: Steven Anderson
With Thanksgiving right around two weeks away, it’s time to start making those shopping lists and consulting those cookbooks. Either that or figuring out if anywhere in town delivers a turkey pizza. Grocery chain Aldi, meanwhile, is getting together with peer-to-peer (P2P) mobile payments titan Venmo to produce “Friendsgiving,” a celebration of friends at Thanksgiving.
Sounds noble enough—friends are one step behind family, after all, and Thanksgiving is all about family—and when you look at what’s really going into it, it will look just as noble as it sounds. Basically, any time someone uses the Turkey Hand Friendship emoji in Venmo—one of its biggest draws is its use of emojis in describing what a payment went for—Aldi will provide 10 meals at no charge to Feeding America, which is the largest hunger relief operation targeting the United States that operates therein.
In case you get the urge to run out and start spamming Turkey Hand Friendship emojis in a bid to feed the world, restrain yourself somewhat; apparently this will work up to a maximum of one million meals. So after that first 100,000 emojis, you’ll just be showing the Turkey Hand with no free meal correlation.
It’s also something of a first; Venmo reportedly built the Turkey Hand Friendship emoji specifically for this campaign, which has never been done before. Those less than familiar with the emoji system, meanwhile, can also type “Friendsgiving” to get the job done, reports note. Venmo has also been branching out with its branding, not just in charitable operations, but also in the “Blank Me” campaign, which takes user stories and hawks them relentlessly to help connect to other users.
Still, this is a great move for all concerned. Not only is there the clear benefit of providing a lot of free meals to folks on Thanksgiving—which is about one of the noblest things a person can do, helping others celebrate the true spirit of Thanksgiving, complete with gratitude for blessings—but Venmo also gets itself face-forward in a time when a lot of companies are getting ready to jump on the bandwagon of its market, which it formerly had mostly to itself.
In the end, everyone comes out ahead, with better optics and fuller bellies. It’s hard to beat a proposition like that. |
Energy firms boost M&A deals in data analytics start-ups | Energy companies' investment in data analytics start-ups has soared, with mergers and acquisitions in the sector surging to $3.5bn in Q2 2017 from $500m in Q1, according to a study by accounting firm BDO. H1 2017 M&A deals totalled 14, compared with 15 in the whole of 2016. "In these uncertain times, energy businesses... look to artificial intelligence and big data to improve energy forecasts," the report noted. In separate data from GTM Research, utilities have invested $3bn in grid-edge start-ups, including Aggreko's $52m acquisition of Younicos and Enel’s purchase of EnerNOC and Demand Energy. | https://www.greentechmedia.com/articles/read/big-data-and-ai-deals-in-energy-are-up-10-fold-in-2017#gs.ZIreWTE | 2017-11-10 14:47:07.057000 | Energy sector investments in big data and artificial intelligence have ballooned by a factor of 10 this year, according to a new report on the sector.
The study, by accountancy firm BDO, found mergers and acquisitions involving energy companies and AI startups had soared in average value from around $500 million in the first quarter of 2017 to $3.5 billion in the second quarter.
The number of deals also went up, rising from six to eight. The 14 deals in the first half of this year compares to 15 in the whole of 2016. “We are witnessing the early stages of what will become an M&A trend for years to come,” said BDO.
The firm attributed much of this activity to the need for improved analytics to manage intermittent renewable generation.
“In these uncertain times, energy businesses adapt their strategy and look to artificial intelligence and big data to improve energy forecasts,” states the report.
As an example, in July, an energy sector consulting firm called Willdan Group paid $30 million for Integral Analytics, a data analytics and software company.
“IA’s software solutions are designed to solve problems arising from the transformation of an electric grid facing increasing growth in distributed energy resources, such as solar and electric vehicles,” noted Willdan in a press release.
Another example was smart meter maker Itron’s acquisition of demand response provider Comverge in May for $100 million. As reported in GTM, the purchase gave Itron added analytical firepower to add to its existing software suite.
Not all energy-sector analytics acquisitions conform to this picture, however. One of the deals listed by BDO was Castrol’s purchase of Romax Technology in February.
Although the acquisition gave Castrol a foothold in the renewable energy market, the motivation for the buyout was allowing the oil company better access to Romax’s wind turbine gearbox lubrication customers.
Utilities are leading the acquisition charge. According to GTM Research, utilities have spent nearly $3 billion on grid edge startups, many with sophisticated software and analytical capabilities.
In July, for instance, the genset rental giant Aggreko paid $52 million for Younicos and its Y.Q software platform.
And in May, Wartsila, a marine and power plant specialist, bought Greensmith, which had made its name in energy storage optimization and integration software.
Other similar deals include Enel’s acquisitions of EnerNOC and Demand Energy in June and January, and Doosan’s purchase of 1Energy Systems in July 2016.
The French energy giant EDF, meanwhile, pulled off a similar deal in reverse last year when it bought the services company Groom Energy Solutions in order to get more use out of an analytics platform belonging to one of its other subsidiaries, Dalkia.
Clearly, energy companies are increasingly looking to add greater software intelligence to their operations, said report author Jakob Sand, BDO’s head of corporate finance in Denmark.
“I would believe that most of the large energy companies, including oil majors such as Exxon, Shell, BP and Chevron, are on the lookout for opportunities that can enhance their operations through data and AI or machine learning," he said.
Besides responding to a need for more efficient and flexible operations, some of the interest in M&A could be driven by competitive concerns, BDO said. The firm’s report said 2,595 clean energy hopefuls were among the companies tracked on the AngelList online startup database.
Many of these “are already bringing their products and services to market,” BDO said. “It leads to a situation where many large companies may have to resort to M&A to avoid losing market shares to the new kids on the block.”
With a growing number of startups looking to commercialize blockchain-based energy trading concepts, blockchain providers could become the next big focus for corporate M&A, said BDO. There have already been several partnerships in this area.
In June, for example, E.ON and Enel traded energy over a blockchain-based peer-to-peer network provided by IT specialist Ponton.
And Conjoule, a blockchain platform developer hatched in Innogy’s Innovation Hub in 2015, pulled in $5.3 million in funding from Tokyo Electric Power Company and others in July. Expect more such deals to come. |
GE Digital and L&T Infotech to deploy IoT solar testbed in India | General Electric Digital and Larsen & Toubro Infotech (LTI) will lead a multiphase digital solar plant testbed project at an LTI solar plant in Rajasthan, beginning early next year, according to the Industrial Internet Consortium (IIC). The testbed combines GE Digital’s Predix platform with LTI’s solar plant technology, offering real-time data analytics to enable utilities to see how efficiently their plants and systems are working, as well as key performance indicators and forecasting data. IIC estimated a 30% reduction in operations and maintenance costs could save utilities around $15m annually. | https://www.pv-magazine.com/2017/11/10/lt-infotech-and-ge-digital-as-iic-members-will-deploy-the-digital-testbed-at-solar-plant-in-rajasthan/ | 2017-11-10 14:39:57.897000 | Supported by storage, EV charging stations and smart homes, renewable penetration on the grids of Germany and the U.K. could rise to 50% by the mid-2020s, finds BNEF.asting requirements.
The Industrial Internet Consortium (IIC), the U.S. headquartered organization, which is transforming business and society by accelerating the Industrial Internet of Things (IIoT), has announced the Digital Solar Plant testbed initiative in India on November 08.
The testbed is led by IIC members Larsen & Toubro Infotech (LTI), a global technology consulting and digital solutions company, and General Electric (GE) Digital. It will deploy in multiple phases at an LTI Solar plant in Rajasthan, India, beginning in early 2018.
The digital solar plant testbed includes LTI’s solution framework for solar plants with GE Digital’s Predix platform integration. It provides the necessary insights and dashboards for plant status, forecasting, data analytics and KPIs.
The testbed improves the ability of solar plants to reliably supply energy to power grids by accurately forecasting electricity generated through solar irradiation, to provide insights, optimize plant output and reduce maintenance expenses by performing real-time asset condition-monitoring.
“Utility companies face several issues as global interest in solar energy soars – from mitigating operational and regulatory risks to maintaining efficiencies and improving capacity utilization,” said Rohit Kedia, Chief Business Officer, Manufacturing and ERP, LTI.
“With LTI’s expertise in IoT solution deployments coupled with GE Digital’s Predix platform, utility companies now have a technological proving ground to successfully manage the growing demand for solar energy,” Kedia added.
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The testbed is an intelligent platform that drives optimal plant performance for operators, asset managers, and owners under complex grid & high-end energy forecasting requirements.
Shyam Varan Nath, Director, Technology Integrations, IoT/Industrial Internet at GE Digital said, “It will help solar plant utilities forecast energy requirements. Using real-time data analytics, utilities can also ensure that all of their assets are working properly and that their plants are running efficiently.”
According to IIC, the forecasting accuracy improvement to 85% (from current trends of 60%-70%) will save utilities around $3 million annually (estimate based on current tariff penalties and assuming 40,000 MW grid connected solar capacity in India by 2021-22). Moreover, 20% Improvement in CUF (capacity utilization factor) would increase annual revenue by $33 million for all solar utilities (estimated at current tariff INR 4/kwh).
IIC mentioned that annual maintenance cost on solar plant is around $1000-1500/MW and solar utilities are going to spend $50 million/year on O&M (Operations & Maintenance) in India market alone. Therefore, 30% reduction in O&M expenses will save around $15 million/year for utilities managers, IIC estimated. |
NREL posts efficiency record for 'quantum dot' solar cells | US researchers have achieved a record 13.4% conversion efficiency for an emerging form of solar-cell technology using quantum dots. The team at the US Department of Energy's National Renewable Energy Laboratory (NREL) said their cell, made from caesium lead tri-iodide and usually around 3 nm and 20 nm, was best used in multi-junction solar cells, according to an article in Science Advances. NREL also speculated that, if paired with perovskite thin-film materials, they could perform as well as niche solar applications found in satellites but at a lower cost than regular silicon cells. | https://www.pv-magazine.com/2017/11/07/nrel-hits-new-efficiency-record-for-quantum-dot-cell/ | 2017-11-10 14:38:19.327000 | Joey Luther and Erin Sanehira were part of the research team which achieved 13.4% efficiency from a quantum dot solar cell.
Quantum dot solar cells first appeared on NREL’s conversion efficiency chart in 2010, when 2.9% efficient solar cells were created. Since then, better understanding of the technology has greatly increased its efficiency.
Thanks to their very small size – generally between 3 and 20nm according to NREL – quantum dot materials have become a popular area for research in solar. This latest paper from NREL, entitled “Enhanced mobility CsPbI3 quantum dot arrays for record-efficiency, high-voltage photovoltaic cells,” is published in the journal Science Advances.
The researchers state that their cell, made using cesium lead triodide, a material from the halide perovskite family, would best be deployed within multi-junction solar cells. “[The] voltage, coupled with the material’s bandgap, make them an ideal candidate for the top layer in a multijunction solar cell,” said Joseph Luther, project leader in the chemical materials and nanoscience team at NREL.
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The team go on to speculate that their quantum dot cell could be paired with perovskite thin-film materials to achieve efficiencies comparable to niche solar applications such as satellites, at a cost lower than conventional silicon PV technology.
“Often, materials used in space and rooftop applications are completely different,” said PhD Student Erin Sanehira. “It is exciting to see possible configurations that could be used for both situations.” |
Grinding components makes perovskite solar cells with fewer defects | Researchers have found a way to improve the performance of an experimental type of solar cell that is thought to hold the key to cheaper and better energy production and storage. The Institute of Physics of the Polish Academy of Sciences and the École Polytechnique Fédérale de Lausanne found that grinding the materials for so-called perovskite cells, instead of using a solvent, enabled their production at lower cost and with fewer defects, leading to increased reliability. The so-called "mechanochemistry" technique produced cells with a performance efficiency that peaked at 17.5%, before stabilising at 16.8%. | https://www.pv-magazine.com/2017/11/08/scientists-grind-out-solvent-free-perovskite-thin-film-process/ | 2017-11-10 14:35:41.567000 | A group of chemists from two leading institutions have demonstrated a perovskite solar cell with a reduced number of structural defects. The cells were produced using ‘mechanochemistry’, whereby reactions between solid compounds are activated by mechanical force – essentially the same concept as grinding ingredients in a mortar.
The group worked with polycrystalline halide perovskites, comprised of methylammonium, lead and iodide. The researchers state that their process could also be used to create other perovskite structured materials for specific applications.
The process is described as follows: “Two powders, e.g. white methylammonium iodide CH3NH3I and yellow lead iodide PbI2, are placed in a mill equipped with a few steel balls. Then, we grind them for several dozen minutes and… we pour out a homogeneous black powder of the perovskite (CH3NH3)PbI3, which can be directly used for the construction of photovoltaic cells.
The PAS researchers were keen to point out the simplicity of the process and its potential for low cost application: “You do not need to use high temperature, organic solvents, or worry about waste,” explains Marcin Saski, a PhD student at PAS. “The whole process is really fast and efficient. It is green chemistry,”
The materials produced by PAS were assembled and tested at EPFL in the laboratory of renowned chemist Michael Grätzel. Scientists were able to produce a perovskite layer just 300nm thick. Results published in the journal Applied Materials & Interfaces show that their best device peaked at 17.5% efficiency, stabilizing at 16.8%.
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The steel ball mill process produced a highly homogenous perovskite layer, with fewer defects that are seen in many previous perovskite devices. This could lead to better reliability, and eventually a solution to some of perovskite’s issues with swift degradation.
“An important property characterizing the quality of a photovoltaic cell is the amount of electrical charge accumulating at the boundary of individual cell layers. If there is too much, the cell undergoes degradation more rapidly,” explains EPFL’s Daniel Prochowicz. “Perovskites obtained by mechanochemistry formed a very homogeneous layer, which reduced the number of defects in the structure impairing the work of the cell and reduced the amount of charge deposited on the surface.”
So far the researchers have been unable to fully explain why the mechanochemical process worked better. The most likely explanation, it seem, is the absence of a solvent, which in other processes can become incorporated into the structure and leave a defect-causing residue. |
Japan adds 2.6 MW of floating solar power via Shikoku-based plant | Mitsubishi Electric and Sumitomo Mitsui Construction have completed their biggest floating solar project to date, a 2.6 MW array on a pond on the island of Shikoku, Japan. Mitsubishi installed over 9,500 photovoltaic modules at the site, using its polyethylene terephthalate film technology to lock out moisture and prevent corrosion. | https://www.pv-magazine.com/2017/11/10/mitsubishi-electric-completes-2-6-mw-floating-plant/ | 2017-11-10 14:32:24.437000 | The project is located west of Osaka on the island of Shikoku, in the town of Miki, Kagawa prefecture. It is the biggest floating PV project that the two companies have worked on to date. The Mitsubishi group’s polyethylene terephthalate film technology was applied to lock out moisture and prevent corrosion. Mitsubishi Electric installed more than 9,500 PV modules at the site, according to a online statement.
Japan — along with China and South Korea — is among the world’s earliest markets for floating solar. The segment is now rapidly expanding throughout the world, with huge potential for greater deployment throughout Southeast Asia. Lu Zhao, head of PV System Technology Group at the Solar Energy Research Institute of Singapore (SERIS), recently told pv magazine that globally, floating PV could also be combined with hydropower generating capacity at the terawatt scale.
In September, French floating PV specialist Ciel et Terre started installing 2.5 MW of solar capacity in a small city to the west of Nagoya, Japan. The array — situated on a pond in Tsu, Mie prefecture — is set for completion this month. Ciel et Terre — an early mover in Japan’s niche floating PV segment — has deployed its proprietary Hydrelio floating platforms in a number of projects throughout the country in recent years, particularly in cooperation with Kyoto-based PV module supplier Kyocera.
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Last year, nearly 1.5 GW of floating PV, including some pile-mounted capacity, was tendered in China’s Anhui and Shandong provinces under the Chinese government’s Top Runner scheme. In May of this year, the world’s biggest floating PV project — a 40 MW solar array — at an aquaculture business in Huainan, Anhui province. |
India commissions mapping system to probe wind energy potential | India has commissioned a sophisticated landscape mapping tool as authorities examine the country's potential for generating wind power. The country's first light detection and ranging (LiDAR) system will be sited in the the Gulf of Khambhat, off the western state of Gujarat. Commissioned by the Facilitating Offshore Wind in India (FOWIND) consortium, the LiDAR system will gather data for India's Ministry of New and Renewable Energy. FOWIND's preliminary roadmap for offshore wind development is set to be released early next year.
| https://www.renewablesnow.com/news/first-offshore-wind-lidar-commissioned-in-india-589936/ | 2017-11-10 14:29:57.923000 | The Facilitating Offshore Wind in India (FOWIND) consortium has commissioned India's first offshore LiDAR, the Global Wind Energy Council (GWEC), which leads the consortium, said last week.
The LiDAR is located off the coast of India's western state of Gujarat, in the Gulf of Khambhat. It will provide data to help India's Ministry of New and Renewable Energy examine the potential of offshore wind along the country's coastline.
The device has been procured from MeteoPole and installed on a platform developed by India's National Institute of Wind Energy.
GWEC secretary general Steve Sawyer expects that offshore wind will play a key role in the country's clean energy future. "This is an important first step on the long road to establishing a vibrant and cost-effective offshore wind industry in India," Sawyer commented.
The FOWIND project aims to finalise a preliminary roadmap for offshore wind development in India in early 2018.
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Intercontinental Hotels accused of breaching living wage pledge | London Mayor Sadiq Khan has accused the Intercontinental Hotels group, which owns the Holiday Inn and Crowne Plaza chains, of backtracking on a pledge to pay staff in the capital the living wage. The group made the commitment in order to become official hotels provider to the 2012 London Olympics. Khan said that it was unlikely he would endorse any further partnerships between the company and the Greater London Authority unless the pledge was implemented. The group’s new CEO, Keith Barr, said that rising employment costs since 2012 had stopped the company paying the £10.20 ($13.5) rate.
| https://www.theguardian.com/business/2017/nov/10/sadiq-khan-holiday-inn-living-wage-intercontinental-hotels | 2017-11-10 13:52:59.730000 | The mayor of London, Sadiq Khan, has accused the owner of the Holiday Inn and Crowne Plaza hotel chains of reneging on a commitment to pay the living wage to staff in the capital.
Intercontinental Hotels pledged to pay the higher wage rate to secure the title of official hotels provider to the 2012 London Olympics.
Khan said he was shocked at the breach of trust by the hotel group, which has refused to honour a commitment made in 2012 to pay the living wage within the next five years.
The mayor warned the company it was unlikely he would endorse any future partnerships with the Greater London Authority without a change of policy.
Officials from City Hall had hoped this week to hear from Intercontinental Hotels (IHG) that it was ready to make good on its pledge.
However, the group’s new chief executive, Keith Barr, said that since 2012, employment costs had increased dramatically, preventing it from paying the £10.20 an hour rate to all staff.
Mayor of London Sadiq Khan. Photograph: Dominic Lipinski/PA
Khan said in a letter to Barr that he understood that businesses faced rising costs, including higher rents and business rates, but “given the ongoing success and profitability of IHG, I believe your business has the ability and responsibility to keep the promise you made both to Londoners and to your own staff”.
An IHG spokesperson said: “Over the past five years there have been several valuable changes to UK pay and benefits legislation, including the introduction of a national living wage, pension auto-enrolment, higher national insurance and the apprenticeship levy.
“We won’t be moving forward with gaining the voluntary London living wage accreditation, but remain focused on hospitality as a great career, as well as the associated pay and benefits, to ensure we remain an employer of choice.”
The row comes at the end of a week of events to publicise the living wage that kicked off on Monday with the announcement of rise in the voluntary minimum to £10.20 in London and £8.75 per hour in the rest of the country.
The Living Wage Foundation, which grew out of a campaign started in 2001 by the community group Citizens UK, sets new rates each year to reflect the wage a worker needs to sustain a decent quality of life. More than 3,600 companies are signatories and pay their employees the higher rate.
Khan said: “To truly tackle the scourge of in-work poverty in London I need businesses such as yours to take the responsible step, especially when you have already committed to do so.”
Citizens UK’s executive director, Neil Jameson, said: “Back in 2012 IHG, the owners of Holiday Inn promised they would pay a London living wage to hotel staff in the capital but, five years on, hardworking staff are still waiting for this pay rise.
“It is deeply disappointing that IHG have let down workers and customers by not paying the London living wage after saying they would. We would urge IHG to meet with workers and urgently agree a timetable towards paying the London living wage and accreditation with the Living Wage Foundation.”
In April 2016, the government introduced a new £7.50 national living wage to supplement the minimum wage, though just for workers aged 25 years and older.
IHG added: “We have made good progress in increasing the pay and benefits of managed hotel colleagues over the past five years, including going beyond legislative requirements for national living wage by paying the 19% of our workforce under 25 years old the new rate.
“Nearly 90% of colleagues are now paid more than the national living wage rate. Through our IHG academy programme we have also helped to train and upskill more than 500 local people.” |
European Commission cuts UK growth forecast due to uncertainty | Predictably, the European Commission has cut UK growth forecasts due to Brexit-related uncertainty. Projected growth for 2017 is a mere 1.5%, slipping to 1.3% in 2018 and 1.1% in 2019. The Commission has also increased Eurozone GDP forecasts from 1.7% to 2.2%. Critics would consider these forecasts arbitrary and another play in the upcoming negotiations.
| https://www.independent.co.uk/news/business/news/brexit-uk-growth-forecast-eu-cut-2017-2018-uncertainty-economy-a8045376.html | 2017-11-10 13:24:11.280000 | Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy notice Thanks for signing up to the
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The European Commission has slashed its forecast for UK GDP growth, citing Brexit-related uncertainty.
In its autumn 2017 round of forecasts, the commission is now projecting growth for Britain of 1.5 per cent this year, down from 1.8 per cent previously.
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The latest 2018 forecast is for 1.3 per cent growth, falling to 1.1 per cent in 2019, the year Britain is scheduled to leave the European Union.
This slowdown is based on assumptions of weak business investment, disappointing export growth and a moderation in UK household spending.
Meanwhile, the commission has raised its GDP forecast for the eurozone in 2017 to 2.2 per cent, up from its previous estimate of 1.7 per cent.
This would be the single currency area’s fastest rate of growth since 2007.
It expects eurozone growth next year to be 2.1 per cent and 1.9 per cent in 2019.
Referring to the UK, the commission said: “Investment growth is forecast to weaken in 2018, as many firms are likely to continue deferring investments in the face of uncertainty.”
The commission added that its forecasts are based on a “purely technical assumption” that UK-EU trade will continue undisrupted after 2019.
Brexit slowdown
“This is for forecasting purposes only and has no bearing on the talks underway in the context of the Article 50 process,” it said.
The commission’s forecasts for the UK are close to those of the Organisation for Economic Cooperation and Development (OECD)’s, which forecast last month for UK GDP growth to be 1.6 per cent this year, before slumping to just 1 per cent in 2018.
However, the OECD’s projections are based on the assumption that the UK will leave the EU without a trade agreement.
The Bank of England’s latest UK GDP forecasts are considerably rosier than either the commission’s or the OECD’s.
It expects GDP growth this year and next of 1.6 per cent, climbing to 1.7 per cent in 2019. This is based on the assumption of a “smooth” Brexit.
Is austerity over? Economics editor Ben Chu explains.
The Treasury’s official forecaster, the Office for Budget Responsibility will publish its own projections alongside the Chancellor’s Budget on 22 November.
UK GDP growth picked up slightly to 0.4 per cent in the third quarter of 2017 according to the Office for National Statistics, having grown by just 0.3 per cent in the first two quarters of the year.
However, the year-on-year growth rate in third quarter was just 1.5 per cent, the lowest since 2013.
GDP growth since the Brexit vote has mainly been driven by household spending, which has come under pressure this year as rising inflation from the slump in sterling has squeezed real incomes.
The contribution of exports to growth has been disappointing, despite the boost to firms from the cheaper pound, and business investment has been relatively weak with many companies citing deep uncertainty over future trade relations with Europe. |
95% of Irish firms still not actively preparing for Brexit | 95% of Irish firms are yet to make preparations for the event of the UK's exit from the EU, according to a study by InterTrade Ireland. Over 70% of Irish firms are operating on margins of under 10%, leaving them vulnerable to the rising costs that may be incurred due to Brexit.
| https://www.irishtimes.com/business/economy/survey-finds-95-of-irish-firms-still-not-actively-preparing-for-brexit-1.3280778 | 2017-11-10 13:11:53.107000 | Despite the uncertainty of Brexit, the InterTrade Ireland report suggests cross-Border trade is thriving
With less than two years to go to Brexit, an overwhelming 95 per cent of businesses in Ireland are still not actively planning for the event, according to cross-Border development agency InterTrade Ireland.
The finding, contained in its latest quarterly business survey, suggests most firms here are still adopting a wait-and-see approach to potentially the biggest shake-up in trading relations between the UK and Ireland in decades.
The agency said planning for Brexit remained a “real concern”, particularly as 22 per cent of all business on the island and 41 per cent of cross-Border traders say it is already having a negative impact on their business.
Despite the uncertainty of Brexit the agency’s report suggested cross-Border trade was thriving, with half of traders experiencing business growth compared to 36 per cent of businesses only doing trading in their own jurisdiction.
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The survey found the increased growth, however, was not translating into a equivalent rise in employment, with only 7 per cent of firms reporting that employment levels have increased over the past quarter.
The reluctance to take on new staff against the positive market background may signal an improvement in productivity but may also reflect difficulties in recruiting appropriate skills, the agency said.
IT and finance firms here have been vocal about their difficulties in finding skilled staff.
In its report InterTrade Ireland also highlighted cost increases in overheads and through the supply chain as significant challenges facing businesses.
"A buoyant economy should not distract from the need to confront and prepare for challenges that lie ahead, especially in terms of dealing with rising costs, skills shortages and potential changes to trading relationships," said Aidan Gough, strategy and policy director at InterTradeIreland.
Tight margins
Mr Gough said that over 70 per cent of businesses were operating on very tight margins – below 10 per cent – and therefore carry a high exposure to rising costs.
“While we encourage businesses to concentrate on the day job and operational effectiveness, we also advise companies to use this time strategically to look at the possible impacts of Brexit,” he said.
“By asking relevant questions and working through different scenarios, businesses which have proved resilient in the past will discover new solutions and opportunities in the challenges that lie ahead,” Mr Gough said.
“With a healthy ambition to grow reported by 51 per cent of firms across the island, we are encouraging SMEs to plan, act and engage in preparation for Brexit as this is the key to stability and success in the future.” |
UK gender pay gap increases for women in their 20s | The UK’s gender pay gap for women in their 20s is increasing. It is now 5.5%, up from 1.1% in 2011, with some female workers being paid less than their male peers from the start of their careers, according to new statistics. The data was released on Friday, designated “Equal Pay Day”, or the point of the year at which women effectively begin working for free as a result of the pay gap. The current overall pay gap is 14.1%. Older women still face the most discrimination, with women in their 50s paid 18.6% less than male colleagues.
| https://www.theguardian.com/world/2017/nov/10/gender-pay-gap-widening-for-women-in-their-20s-data-shows | 2017-11-10 13:09:24.833000 | The gender pay gap for women in their 20s is growing after years of decline, with some young women being paid less than men from the start of their careers, figures have revealed.
The figures were released on Friday, named as Equal Pay Day and the day of the year when women in effect begin to work for free due to the pay gap.
Gender rights campaigners said the data highlighted a “national scandal” created by the same power imbalance that allowed sexual harassment and discrimination in the workplace. They warned that the UK was going backwards in addressing the issue, with the gulf widening for young women.
Sam Smethers, chief executive of the Fawcett Society, said: “The pay gap is widest for older women as it grows over our working lives but we are now seeing a widening of the pay gap for younger women too, which suggests we are going backwards and that is extremely worrying.”
Sophie Walker, leader of the Women’s Equality party, stressed that the gender pay gap had to be viewed as part of the same power imbalance that had lead to a series of sexual harassment scandals in politics, the media and entertainment industry.
“Unequal pay is one of the main barriers to equality and is a key factor in sexual harassment and violence against women,” she said. “The pay gap is another national scandal that we don’t understand, and it has this same national narrative around it that women are somehow choosing this treatment – this idea that inequality is some sort of lifestyle choice.”
The gender pay gap for women in their 20s has been widening recently, and is now five times greater than it was six years ago, although older women still face greater pay discrimination than workers at the start of their career.
Progress has stalled on closing the gender pay gap, which now stands at 14.1% according to the Office for National Statistics, with no movement on the figure in the last three years. At the current rate of change it will take 100 years to close the male-female gap in pay.
According to the ONS, older women face the greatest discrimination, with women in their 50s paid on average 18.6% less than their male colleagues. While the gap among younger women had almost been eliminated, in the last six years there was a notable increase, from 1.1% in 2011 to 5.5% this year.
The gender pay gap in Britain stands at 14.1%, according to ONS figures. Photograph: Dinendra Haria/Rex
The gap is highest in London (20.7%), followed by the south-east at 16.3%. It is lowest in Wales, at 8.3%, and the north-east, at 10.2%. The gap is higher in the private sector, at 17.1%. But it has fallen by 4.3% points since 2011, while in the public sector it has plateaued at just above 14%.
Fawcett Society research published this year found that the mean aggregate pay gap for Pakistani and Bangladeshi women was 26% and for black African women it was 24%.
Using the hashtag #paygappledge, the Fawcett Society is encouraging workers across the UK to take action to tackle the gap by starting a conversation at work and speaking to their employers, while companies and the government are being urged to make tangible, effective changes.
The Women’s Equality party is coordinating thousands of women to send an “out-of-office” message today in protest about in effect not being paid for the remainder of the year.
“Imagine the chaos if all of those women in all those areas of work simply walked away from their jobs today,” said Walker. “Shops shut, hospitals in crisis, businesses forced to close, dads scrambling to find childcare cover. It’s time for fair pay.”
The government has set a deadline for businesses with more than 250 staff to report their gender pay gap (which will be available on the government website) by 31 March 2018. Some companies have already started reporting, including the BBC, which was fiercely criticised after several high-profile employees were found to have salaries significantly lower than their male counterparts.
Maria Miller, the MP for Basingstoke and chair of the women and equalities select committee, said: “We continue to hear warm words from the government on eliminating the gender pay gap but clearly progress remains disappointing. Businesses must also take responsibility.
“We continue to push for urgent action and reiterate that flexible working, sharing unpaid caring responsibilities, and supporting women returning to work after having children, are all key to tackling the problem.”
Walker said that a main reason for the pay gap was that the UK had the most expensive childcare in the world. “It takes away the choice about whether and how much women want to work. And when women take up lower-paid part-time roles and men dominate more senior jobs, there is a power imbalance, and that is where harassment thrives because women are being forced into a position of dependency.”
Carole Easton, chief executive of the Young Women’s Trust, said that even if women did have children or were at the beginning of their career, discrimination was there; it started “from the moment women start work”. The trust’s research revealed that young female apprentices earned 8% less than their male peers, leaving them more than £1,000 a year worse off.
“At this rate, today’s young women will be retired before equal pay becomes a reality,” Easton said. “Often this is because the sectors women tend to work in – such as administration, health and social care and retail – are not valued and paid as much as they should be. Government data shows that male graduates of almost all degree subjects are out-earning women within just a few years of completing their degrees.”
Anne Milton, minister for women and for skills and apprenticeships, , said that despite the passing of the Equal Pay Act nearly 50 years ago too many women were still held back in their careers.
“The pay gap won’t close on its own, we all need to take action to make sure we address this,” she said. “That is why we have introduced a legal requirement for all large employers to publish their gender pay and bonus data by April 2018. I’m pleased that some of our top companies are leading the way and have already reported. By shining a light on where there are gaps they can take action to address it.”
‘The way jobs are set up has held me back’
Laura Davies enjoyed her job in retail. She wanted to do more training, push herself further and earn more money, but when she became pregnant aged 20 she found that many of the avenues were closed off.
“When my employers found out I was pregnant they made things very hostile, they didn’t want me to stay,” she says. “So I had no choice but to leave.”
Until recently, Davies, now 27, was working part-time, but found that her childcare responsibilities meant she could not go on to a higher level of pay. “I left at the end of July in my last job, they refused flexible working and they turned me down for promotion because they thought I was not committed, which wasn’t true. Now I’m self employed because I think it’s the only way I’m going to get ahead.”
She, and friends, she said, who were also young mothers, felt the odds were stacked against them.
“Most people think the wage gap is comparing the same wage in the same job, but young mums work lower paid jobs, which don’t have the potential for progression, aren’t flexible enough [for trying] new things or training courses,” she says.
The options open to young women, with or without children, in lower-paid work, are a frustration, she says, adding that even at apprenticeship level jobs dominated by women are paid and valued less.
“There is a mentality that young mums aren’t hard workers, but my friends are some of the hardest working I know,” she adds. “Especially being young you have to work so much harder to prove that you can do it.”
Davies now works from home as an online marketer, working hours that fit around looking after her son. But she feels as if several employers have failed to see, and help her realise, her potential.
“I feel the way jobs are set up has held me back. Billions of hours are being wasted because mums aren’t being used to their potential. Why can’t employers find a flexible way of working? I’d have loved the potential to progress in my retail job, but because I worked part-time and I was a new mum they didn’t feel I was the fit … I had to do it myself and push myself up the ladder.” |