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Cars with Amazon Alexa to allow voice payments at petrol stations

US owners of Amazon Alexa-enabled cars will have the option to pay for fuel through the voice assistant later this year. The feature will allow drivers to carry out voice payments at Exxon and Mobil petrol stations. The move is part of Amazon's push to make Alexa an assistant throughout a user's day rather than just at home.

https://www.cnet.com/roadshow/news/amazon-alexa-pay-for-gas-voice/

After dominating smart homes, Alexa has set its sights on cars. Since 2017, Amazon has unveiled partnerships with major automakers to bring its Alexa voice assistant to new models from Ford, Audi, BMW and Toyota. The company announced Monday that it's adding a head-turning supercar to that lineup: the Huracan Evo sports car from Automobili Lamborghini. Also joining the crowd are Rivian's all-electric R1S SUV, R1T truck and its upcoming fleet of 100,000 delivery vans for Amazon. Added to that, later this year, customers with Alexa-enabled cars or car accessories will be able to say, "Alexa, pay for gas," to buy fuel at 11,500 Exxon and Mobil stations. Amazon is pushing into cars as part of its effort to expand Alexa's scope far beyond the home, making the digital helper an all-day assistant. It's also working to grow in automotive to fend off rivals Apple and Google, which have installed their own automotive software into vehicles from carmakers including Acura, Buick and Honda. While Lamborghini and Rivian are much more niche carmakers, Amazon may be able to use those partnerships to build its credibility in the auto world. Amazon also said Monday that Fiat Chrysler plans to be one of the first carmakers to integrate Amazon's Fire TV entertainment platform into its rear-seat TV sets. More Alexa car accessories will be unveiled at CES 2020, along with the international expansion of Amazon's Echo Auto car gadget, starting with India on Jan. 15, Amazon said. Originally published Jan. 6.

Impossible partners with major meat processor to increase capacity

Demand for meat substitutes like Impossible's has been growing as people try to reduce their meat intake for health or environmental reasons.Teaming up with OSI, a private company that produces food and processes meat, should help Impossible keep up with future surges in demand and allow it to scale quickly.Impossible and OSI have essentially set up a replica of the plant-based food company's Oakland production facility within the Chicago plant, explained Sheetal Shah, senior vice president of product and operations for Impossible.

https://edition.cnn.com/2019/07/31/business/impossible-manufacturing-partner/index.html

New York CNN Business — Impossible Foods is partnering with a major meat processor to increase its capacity. Impossible which makes meatless alternatives to burgers and sausage, has struggled to keep up with a surge in orders. Demand for meat substitutes like Impossible’s has been growing as people try to reduce their meat intake for health or environmental reasons. Teaming up with OSI, a private company that produces food and processes meat, should help Impossible keep up with future surges in demand and allow it to scale quickly. OSI has more than 65 facilities in 17 countries. For now, just one of those, in Chicago, will make the raw product. Others can help produce it in a finished form, such as sausage. An Impossible burger patty is being seasoned at the test kitchen inside Impossible Foods headquarters in Redwood City, California. Stephen Lam for CNN Impossible and OSI have essentially set up a replica of the plant-based food company’s Oakland production facility within the Chicago plant, explained Sheetal Shah, senior vice president of product and operations for Impossible. Impossible has a dedicated, enclosed production room within the partner facility. OSI employees who make the product have to key into the room. The separation protects the plant-based protein from meat and other contamination. “The equipment, the processes are exactly the same,” at OSI, Shah told CNN Business. “Is it a copy-paste? Not exactly, but it’s pretty close.” One difference is that the Impossible manufacturing area within the OSI plant is a lot bigger than Impossible’s 68,000-square-foot factory, he said. Impossible could use the extra space to fill a skyrocketing number of orders. In January, roughly 5,000 restaurants served Impossible’s product. Today, that figure has doubled. By the end of the year, once Burger King has rolled the Impossible Whopper out nationally, that figure will likely hit around 17,000 restaurants. With just the one facility in Oakland, Impossible has struggled to meet demand. Earlier this year, the company said it was running out of its signature patties. A few weeks ago, the company was finally able to say that the shortage has ended. OSI will start making the product next month. Dennis Woodside, Impossible’s president, described the deal as a “long-term, multi-year partnership,” adding that OSI has made a “meaningful capital investment” in the plant. A technician places a flag toothpick into a burger with an Impossible burger patty at the test kitchen inside Impossible Foods headquarters in Redwood City, California. Stephen Lam for CNN The deal, he added, may allow Impossible to start working with OSI’s customers. OSI did not share who it works with, but described its clients as leading restaurant chains and retail brands. There’s no question fast food restaurants are interested in meat substitutes. Impossible already sells to a number of chains, such as Burger King, White Castle, Qdoba and Little Caesars. Others, including Dunkin’ and Tim Hortons, serve meat substitutes made by Beyond Meat (BYND), Impossible’s main competitor. Beyond also sells plant-based patties and “ground beef” in grocery stores. Impossible plans to start selling in retail later this year.

Petrofac Petrofac wins 200 North Sea jobs from Worley

Petrofac Engineering & Production Services has taken over the employment of 200 North Sea workers from their former employer Worley after signing a contract to extend its operations to six more Repsol Sinopec Resources UK assets in the North Sea. Petrofac has already taken over an earlier group of six assets from Repsol and is now adding the Claymore, Tartan, Clyde, Montrose, Arbroath and Bleo Holm assets.

https://www.upstreamonline.com/production/north-sea-workers-switch-to-petrofac-after-contract-win/2-1-797497

The jobs of 200 North Sea workers are to transfer to Petrofac after the London-listed contractor won a deal to extend operations and maintenance services to six more of Repsol Sinopec Resources UK's North Sea assets. The workers, who up to now have been employed by Australia's Worley, that work on the Claymore, Tartan, Clyde, Montrose, Arbroath and Bleo Holm assets will transfer to Petrofac after transition. Nick Shorten, managing director for Petrofac Engineering & Production Services, West, said: “Since our initial appointment in 2016, our scope of support for Repsol Sinopec has grown steadily and the inclusion of this additional asset group demonstrates our client’s continued confidence in our delivery. "We are delighted and very much look forward to continuing our support of Repsol Sinopec’s late-life strategy, through safe and effective operations.” Petrofac already provides support at six of Repsol Sinopec’s UK assets under this contract. It also provides engineering support services as a tier one contractor for brownfield modifications and projects across the operator’s North Sea portfolio.

Nasdaq 'would consider' creating a crypto exchange

Nasdaq could become a cryptocurrency exchange “over time”, according to CEO Adena Friedman, and is already supporting existing crypto exchanges. She said regulation would need to be ironed out before Nasdaq made its move and that she was positive about the future of digital assets, but Friedman was less optimistic about initial coin offerings which she said should be regulated as securities. Nasdaq is supporting other exchanges already and has signed a deal with the Gemini exchange, backed by the Winklevoss twins, in which Gemini wins access to Nasdaq’s surveillance technology. It also has links with blockchain start-up Chain.

https://www.cnbc.com/2018/04/25/nasdaq-is-open-to-becoming-cryptocurrency-exchange-ceo-says.html?__source=sharebar|twitter&par=sharebar

Once the space matures, Nasdaq is open to becoming a platform for trading cryptocurrencies like bitcoin , according to the company's CEO. "Certainly Nasdaq would consider becoming a crypto exchange over time," Nasdaq CEO Adena Friedman told CNBC's Squawk Box Wednesday. "If we do look at it and say 'it's time, people are ready for a more regulated market,' for something that provides a fair experience for investors." A key roadblock for the Nasdaq and other institutional investors is regulation, which Friedman said needs to be ironed out before the company would add an exchange. But she was bullish on the future of digital assets. "I believe that digital currencies will continue to persist it's just a matter of how long it will take for that space to mature," Friedman said. "Once you look at it and say, 'do we want to provide a regulated market for this?' Certainly Nasdaq would consider it." In the meantime, the Nasdaq is supporting existing cryptoexchanges. On Wednesday, the company announced a collaboration with cryptocurrency exchange Gemini, founded by early bitcoin investors Tyler and Cameron Winklevoss. The deal gives Gemini access to Nasdaq's surveillance technology to help make sure the platform provides a fair and "rules-based marketplace," for their own participants, Gemini CEO Tyler Winklevoss said in a statement. While Friedman was optimistic about the future of cryptocurrencies she was less so on the fundraising process known as an initial coin offering, or ICO.

Jeff Bezos' investment into Beacon is 'personal' and not tied to Amazon, UK firm's CEO says

Beacon, based in London and founded in 2018, wants to disrupt the global shipping industry by using A.I. to find the cheapest shipping routes. Its investors also include former Google Chairman Eric Schmidt and Travis Kalanick and Garrett Camp. Its current executives were previously in senior roles at Uber and Amazon.

https://www.cnbc.com/2020/06/03/jeff-bezos-beacon-investment-is-personal-and-not-tied-to-amazon-ceo.html

Beacon, based in London and founded in 2018, wants to disrupt the global shipping industry by using A.I. to find the cheapest shipping routes while offering customers supply chain financing to help cashflow. The backing from Amazon CEO Bezos, who has invested in numerous start-ups, is set to be a major boost for the company in its stated mission to be a global leader in logistics and trade finance. Its investors also include former Google Chairman Eric Schmidt and Uber founders Travis Kalanick and Garrett Camp. Its current executives were previously in senior roles at Uber and Amazon. "I should be really clear that this investment is from Mr. Bezos directly. It's a personal investment, not one made by Amazon . Amazon is aware and had to approve of it, but there is no commercial relationship and this has no direct tie with Amazon itself and it's important to make that distinction," Beacon CEO Fraser Robinson said. Jeff Bezos' investment in digital freight forwarding and supply chain finance firm Beacon is a personal one, the U.K. start-up's CEO told CNBC Wednesday after the closing of its $15 million Series A funding round. The freight forwarding industry, or how goods move from the manufacturer to market, is worth $1 trillion. Robinson sees Beacon's role as meeting the need for the industry to become more digitized. "We were surprised by how analogue the existing logistics industry is," he said. "By automating and streaming and creating huge efficiencies within our own operating platform, that means we can provide a vastly superior service to our customers — with automated updates, superior route optimization, and the working capital to fulfil what we see as one of the greatest problems created by logistics, which is cashflow." Asked about the potential for established shipping giants like DHL and Maersk to use the same technology and sharpen the competition, Robinson said he expects the industry to digitize itself. "It's a trend that is already happening and has been going on for a couple years," he said, but noted that "it's much more difficult than people realize for large companies to retrofit technology and make themselves more efficient overnight. Typically they're either buying technology or buying businesses to help them get there." "By starting with a technology focus first and foremost and being data centric, I think you have a better shot at a more holistic solution that's more scalable and more effective," Robinson said. He also sees Uber Freight, Uber's trucking arm for the shipping industry, as potentially a useful complement to Beacon's wider business, rather than competition. That's because the trucking operation is just one piece of the longer and more complex process of getting goods across land, sea and air to their final destinations. Uber last year announced it would invest $200 million and hire thousands of engineers to boost its freight platform. "The truckload piece, the Uber Freight piece, is a component of what we do, and they can and will be a great partner for us as part of the solution we provide, but it's fundamentally a very different business," Robinson said.

Tax credit extensions are fueling renewables

Growth in renewable energy is being driven by extended tax credits, among other factors, according to speakers at the annual Renewable Energy Finance Forum in New York. The Production Tax Credit (PTO) for wind power has been extended to until 2020, with reductions beginning in 2017, while the Investment Tax Credit (ITC) for solar power runs until 2024. It has a 4% a year step-down until 2020, dropping to 10% by 2022. Critics argue that when the tax breaks come to an end, it will be "enormously challenging to build new projects beyond this window".

http://www.utilitydive.com/news/somethings-got-to-give-why-wall-st-is-uneasy-with-the-renewable-energy/421622/

Financiers and CEOs see a strong year ahead for renewable energy deals, but they also see challenges stemming from that growth. “The market will be similar in size and scope to last year” when $13 billion of renewable energy deals closed, John Eber, managing director of energy investment at J.P. Morgan, said at the 13th annual Renewable Energy Finance Forum in New York. Eber also noted that last year was the first year that solar power outpaced wind power with about $6.8 billion solar deals closing and $6.4 billion of wind deals closing. Patrick Woodson, chairman of E.ON North America, sees the industry heading into a period of “massive growth” with 50 GW of renewable resources being built over the next four years. Other speakers, such as Pooja Goyal, a managing director at Goldman Sachs, agreed with that outlook. But Goyal noted that the “market is getting off to a slow start; developers are waiting to see if costs come down.” Declining costs were cited several times as one of the key drivers for the sector. Michael Polsky, president and CEO of Invenergy, went as far as saying the Environmental Protection Agency’s stalled Clean Power Plan is “irrelevant” to the growth prospects of renewable energy. “Growth will be driven by cost declines,” he said. “The business proposition for renewable energy is so compelling” it is becoming mainstream, especially compared with other alternatives, Polsky said. New nuclear and coal-fired plants are not viable options and, although there is still room for natural gas-fired plants, he said a lot of people still remember how volatile gas prices can be, strengthening the case for renewables. But while that policy situation has created the chance for growth, many stakeholders expressed concern about how the renewable energy buildout is manifesting itself, including worries about the competitive behavior of developers, tax equity's role in financing projects, and the overall consequences for organized electricity markets. Cannibalistic competition? Several speakers noted that low power purchase agreement prices are driving deals as utilities vie to lock in low prices. Ted Brandt, principal and CEO of Marathon Capital, referenced those low prices and said they would present a growing challenge to the industry. “The competition is brutal out there,” Brandt said. “Wind-on-wind and solar-on-solar competition is killing these businesses.” The problem, said Polsky, is there is a lack of discipline that is causing a “race to the bottom” with developers, especially bigger players, bidding in lower and lower prices just to win bids. That kind of “spiral behavior” may win bids, but it does not build a company, he said. Polsky says that by tweaking assumptions of the forward price of gas or power, companies can get the results they want. Or, as Jim Hughes, CEO of First Solar, said, “People are creating value for themselves by shorting the cost curve.” Larger developers are building large projects with no more due diligence than figuring out the lowest cost is to win the bid. That means “it is going to be a much harder business to be in,” Hughes said. (Hughes is stepping down as First Solar’s CEO at the end of June and handing the reins to CFO Mark Widmar.) Tax credit worries The behavior of their competitors aside, bankers and CEOs at the conference were also concerned about renewable energy incentives, particularly tax credits. The December passage of legislation extending renewable energy tax credits was cited several times as a key driver behind expected growth in renewable energy deployments. The legislation extended the Production Tax Credit (PTC) for wind power until 2020, but with a stepped-down phase-out, beginning with a 20% reduction in the incentive in 2017 and progressing to 40% and 60% reductions in 2018 and 2019, respectively. The Investment Tax Credit (ITC) for solar power was extended to 2024 for large-scale solar plants, but with a 4% a year step-down starting in 2020 until 2022 when it drops to 10%. For residential solar, the ITC is extended to 2020, with a phase-out that drops to zero in 2022. Bankers and developers alike expressed concern about the eventual expiration of the credits even though, for the PTC at least, the extension was the longest since the program’s inception. “Something has got to give,” Woodson said. “You can’t lose 20% of PTC value and think this run is going to continue. It will be enormously challenging to build new projects beyond this window.” The PTC has been a key driver for wind power projects, but at least as important has been the financial innovation that allowed developers to monetize the tax credits they often could not use. The "partnership flip" structure strips out tax credits and delivers them to an equity owner in a partnership. Under that structure, a developer holds a minimum level of equity with about 90% of the equity transferred to a partner that can use the credits to offset taxable earnings, or that can package those credits and sell them to other parties with a tax appetite. To set up a partnership flip, a developer, Acme Co., would form a partnership with a bank, First National. In the partnership, the bank would contribute 99% of the equity in the project and, therefore, be entitled get 99% of the tax credit as well as the taxable income or losses. The developer would receive the cash flows. When the after tax rate of return is achieved, usually timed to the 10-year expiration of the PTC, the partnership structure "flips," with the developer taking 99% of the equity in the project. The partnerships typically last for as long as the PTC last, 10 years. During that time the equity owners collect the tax credits. At the end of the 10-year term, equity ownership flips back to the developer. Until the recent extension, the PTC had gone through a series of two year extensions, created a boom bust cycle for wind development with projects flooding into the market just before expiration and coming to a sudden halt until the legislation was extended. From a political perspective, the two-year cycle provided political coverage by reducing the “cost” of the tax benefit as measured by tax scoring models that measure the impact taxes have on the economy. Think of tax scoring as how much a legislative measure costs in terms of taxes, either in terms of how much taxes it would impose or, in the case of the PTC, how much tax revenue is not paid (remember the PTC is a tax credit, so someone is not paying taxes). By extending the PTC for only a year or two years, the tax "score" is kept lower than it would have been it the PTC were established for 5 or 10 years. It is a bit artificial, but it makes it easier to swallow or an easier sell, from a certain perspective. The recent extensions were more generous than past extensions, but the phase-out provisions were envisioned either as a “glide path to grid parity,” or as a bridge to provide financial support until the Clean Power Plan takes effect. In addition to the fact that the Clean Power Plan is now jeopardized by legal challenges and the Supreme Court stay, concerns about the eventual expiration of the tax credits is heightened by a tightening of the tax equity market in the wake of the 2008 financial crisis. For years after the crisis, financial concerns and tighter regulations shrunk the number of banks active in the tax equity market and reduced the earnings of companies that had previously been able to use tax credits to reduce their tax payments. Those concerns have abated, but they have not gone away entirely. Skip Grow, managing director and head of the clean technologies group at Morgan Stanley, says the biggest constraint to the growth of the renewables market is a lack of tax equity capacity. Sandy Reisky, CEO of Apex Clean Energy, and Jeff Weiss, co-chairman and managing director of Distributed Sun, also listed tax equity as among their biggest concerns. Power market impacts But while the incentives pose some worries, stakeholders agreed that the current extension will bring a multi-year boom. Looking further out, though, that flood of new renewable resources is likely to have profound effects on power markets. That is already apparent in Texas, the leading state for wind power capacity. “I don’t see fossil fuel plants as viable in Texas at this time,” Polsky said. The state has seen negative power prices in recent months as subsidized wind drives nighttime prices lower, squeezing baseload plants. As wind and solar power resources continue to grow in other markets, they will continue to put downward pressure on energy market prices. Polsky said that benefits consumers, but it is not sustainable for generators and developers. Renewable resources with zero fuel costs have already disrupted power markets, wreaking havoc with coal and nuclear plants from Illinois to Massachusetts. Grid operators like PJM and ISO-New England have responded, attempting to raise prices in capacity markets or strengthen so central-station plants have enough financial incentive to stay online. Utilities, especially those with a lot of baseload generation, largely say those efforts have been insufficient, and that more market protections are needed to prevent large coal and nuclear plants from retiring prematurely. It's a debate that is sure to continue, Polsky said, predicting that as even more renewables come online, “we will have to revisit how markets are organized."

Biometric Startup Raises Growth Capital

Hypr, a biometric security start-up has secured $3m (£2.4m) funding from New York-based venture capital companies RTP Venture, Boldstart Ventures and Taiwanese Mesh Ventures. Hypr will use the funds to hire more security engineers and expand its Manhattan office space. Its technology replaces the need for passwords and PIN numbers on banking and shopping sites by storing biometric data (fingerprint, voice, face, eye and palm recognition) on individual devices.

http://www.americanbanker.com/news/bank-technology/biometric-startup-raises-growth-capital-1091975-1.html

Biometric security company Hypr Corp. has closed a $3 million funding round to accelerate the development and adoption of its encryption product. The Hypr solution integrates fingerprint, voice, face, eye and palm recognition into mobile and desktop banking and shopping. The aim of the product is to remove the need for customers to manually input PIN numbers or passwords. The New York-based startup will use the funds to expand its security engineering talent base and its office space in Manhattan, it said in a Tuesday news release. Venture capital firms RTP Ventures and Boldstart Ventures, based in New York, and Mesh Ventures, from Taiwan, participated in the round. "There is no bigger opportunity in security right now than to replace every password with biometrics," Ed Sim, managing partner and founder of Boldstart Ventures, said in the release. Hypr's approach "allows financial, [Internet of Things], and enterprise customers to easily integrate into existing architectures, deploy any biometric to its customer base, and scale infinitely." Hypr's authentication system turns the user's biometric data into a token that is used to confirm things like deposits, wire transfers or payments. Instead of having biometrics stored on a server, Hypr stores them on individual devices, so users' biometric credentials never leave their devices. That means when a users authenticate their identity, they match their fingerprint against the fingerprint stored in their device's chip, making a one-to-one match instead of the one-to-many match it would make by storing data on a central database. Hypr is part of the FIDO Alliance, an industry consortium that focuses on modernizing authentication and has gotten traction for its specs defining the use of biometrics for authentication. Initially, the company just used fingerprint data. This year it partnered with with voice biometrics firm SpeechPro as well as EyeVerify, the eyeprint ID software developer backed by Wells Fargo, which is expected to roll out the Eyeprint ID solution for commercial customers' mobile banking this year. "There will come a day when we look back on the history of computing and cringe at how we used to treat our most guarded assets," Edward Chyau, managing partner of Mesh Ventures, said in the release. "Hypr will help us leave behind our alphanumeric past and embrace the biometric future: a world where our online identity is simply our self."

Targeting bacteria within parasitic worms a viable alternative

Researchers from the Hospital for Sick Children in Toronto have suggested a method to combat parasitic worms by blocking essential metabolic reactions of bacteria within them. While traditional antibiotic treatments present drug resistance problems, the team built metabolic pathway models of environmental adaptation in Brugia malayi worms and the Wolbachia bacteria inside them. The study found 50 essential processes provided by the Wolbachia, and consequently identified three existing drugs that reduced the presence of the bacteria by up to 53%, with two of them also lowering the worm's reproductive ability. Parasitic worms currently cause elephantiasis in 40 million people worldwide.

https://phys.org/news/2020-08-parasitic-worm-metabolism-strategy-drugs.html

Credit: Unsplash/CC0 Public Domain Scientists have revealed a way to eradicate parasitic worms by stopping them from using alternative metabolism pathways provided by bacteria that live within them, according to new findings published today in eLife. The study has identified three potential drugs that are active against the parasitic worm Brugia malayi (B. malayi), a leading cause of disability in the developing world. Latest figures from 2015 suggest an estimated 40 million people in the world have lymphatic filariasis (elephantiatis) caused by worms such as B. malayi, with an estimated one billion people at risk. Current prevention and treatment efforts rely on a small selection of drugs, but these have limited effectiveness and must be taken for 15 years, and there is an emerging threat of drug resistance. "One alternative strategy for preventing lymphatic filariasis has been to use traditional antibiotics to target bacteria that live within most filarial worms," explains lead author David Curran, Research Associate at the Hospital for Sick Children (SickKids) in Toronto, Canada. "These bacteria, from the genus Wolbachia, are specific to each worm and are known to be essential for the worms to survive and reproduce." While targeting the Wolbachia bacteria with antibiotics is a viable strategy, Curran adds that long treatment times and the unsuitability of these antibiotics for pregnant women and children prevent their widespread use, and there remains an urgent need to identify novel targets for treatments. In this study, he and his colleagues looked at targeting both the worm and the bacteria by identifying the essential biological processes provided by the bacteria that the worm depends on. To do this, they built a model of all the metabolic pathways that take place in the worm and in its resident bacteria. They then systematically changed different components of the model, such as oxygen levels, glucose levels, and which enzymes were activated, to see the effects on the worm's growth. Their final model included 1,266 metabolic reactions involving 1,252 metabolites and 1,011 enzymes linked to 625 genes. To cope with the different nutrient conditions, the worm adapted its use of different metabolic pathways—including those provided by the Wolbachia bacteria—throughout the different stages of its lifecycle. To see which of the metabolic reactions were critical for survival and reproduction, the team removed some of the possible pathways from the model. They identified 129 metabolic reactions that slowed the growth to less than 50% of the baseline level. Of these, 50 were metabolic processes provided by the Wolbachia bacteria. Having identified these essential metabolic reactions, the team searched for drugs that could block crucial molecules involved in activating these reactions, using databases of existing drugs and their targets. They identified three drugs: fosmidomycin, an antibiotic and potential antimalarial drug; MDL-29951, a treatment being tested for epilepsy and diabetes; and tenofovir, which is approved for treating hepatitis B and HIV. These drugs reduced the numbers of Wolbachia bacteria per worm by 53%, 24% and 30%, respectively. "We also found that two of the drugs, fosmidomycin and tenofovir, reduced the worm's reproductive ability," explains co-senior author Elodie Ghedin, previously Professor of Biology and Professor of Epidemiology at New York University, and now Senior Investigator at the National Institutes of Health, Maryland, US. "Fosmidomycin also appeared to affect movement in the worms." "All three of the drugs tested appear to act against adult B. malayi worms by affecting the metabolism of the worms themselves or their resident bacteria," concludes co-senior author John Parkinson, Senior Scientist, Molecular Medicine program, SickKids, and Associate Professor, Biochemistry & Molecular and Medical Genetics, University of Toronto. "This validates our model as a realistic construction of the metabolic processes in these debilitating parasites, and suggests that its use may yield further therapeutic targets with more research." More information: David M Curran et al, Modeling the metabolic interplay between a parasitic worm and its bacterial endosymbiont allows the identification of novel drug targets, eLife (2020). DOI: 10.7554/eLife.51850 Journal information: eLife Provided by eLife

Nestlé buys Aimmune Therapeutics

Nestle, the Switzerland based conglomerate, is buying Aimmune Therapeutics; a company that makes a therapy to help children reduce their allergic reactions to peanuts. The deal values the company at about $2.6 billion and is set to strengthen their position in the health-science market. Some analysts have estimated the treatment could generate revenue of more than $1 billion by 2025.

https://www.fooddive.com/news/nestle-buys-peanut-allergy-treatment-maker-in-26b-deal/584403/

Dive Brief: Nestlé said it is buying Aimmune Therapeutics, a biopharmaceutical company that makes a therapy designed to help children reduce their allergic reactions to peanuts by exposing them to small but increasing amounts of the legume. The deal values the company at about $2.6 billion. Aimmune Therapeutics, The acquisition would boost the Swiss company's large health-science business that is predominantly focused on dietary management. The division is involved in areas such as pediatric health, allergy, acute care, oncology, healthy aging and gastrointestinal health. Nestlé purchased its first stake in Aimmune in 2016 before making additional investments that boosted its ownership in the biotech company to nearly 26%. Dive Insight: While Nestlé is best known for its presence in water, frozen foods and coffee, among other areas, the world's largest food manufacturer has quietly built a thriving health-science business in recent years. In June, Nestlé said it would purchase a majority stake in Vital Proteins, a maker of collagen bars, beverages, capsules and powders. Last year, it purchased personalized vitamin company Persona, and in 2017 it spent $2.3 billion for privately held Atrium Innovations, a maker of nutritional health products. The acquisition of Aimmune is its biggest push yet into the space, giving the company ownership of the peanut-allergy treatment approved in February. Some analysts have estimated the treatment could generate revenue of more than $1 billion by 2025. The Peanut Institute, citing data from National Institute of Allergy and Infectious Diseases, said up to 1% of Americans have peanut allergies, and studies show a fifth of people can outgrow them. Nestlé has aggressively overhauled its portfolio in recent years in an effort to generate more growth with CEO Mark Schneider, a former healthcare executive, who took over the top post in 2017. In food, Nestlé ​​sold its U.S. chocolate business in 2018 to Ferrero for $2.8 billion, and then announced late last year it would sell its U.S. ice cream business valued at $4 billion to Froneri. Nestlé recently said it is considering the sale of the majority of its struggling North American Nestlé Waters business unit that includes brands such as Poland Spring and Deer Park. Its also bulked up its offerings in coffee through the acquisition of Chameleon Cold-Brew and a $7.15 billion deal with Starbucks. As the purchases and divestitures in food and beverage show, Nestlé is not beholden to keeping anything in its portfolio not generating a high-level of growth even if these are offerings it has been associated with for decades. The acquisition of Aimmune is expected to be accretive to Nestlé's organic growth in 2021, the company said. The deal is a "significant milestone in Nestlé Health Science," Jean-Philippe Bertschy, an analyst at Bank Vontobel in Zurich, told Bloomberg. "Nestlé has been very vocal lately in its intention to strengthen its position with acquisitions." Nestlé also is not afraid to move beyond its core expertise in food to diversify its reach through a major acquisition. The move into peanut-allergy treatments, while having a tie in with food, mirrors similar deals in health science that have centered on making a person feel better or receive the nutrition they need. Increasingly, people are turning to food for more sustenance. According to a Kerry study published in 2019, 65% of consumers seek functional benefits from their food and drink. As the world's largest food company, Nestlé is acutely aware of the importance of food for consumers and what they are looking to receive when consuming it. It's a big reason why Nestlé boosted its offerings in plant-based foods through its Sweet Earth purchase about three years ago, along with other innovations in the segment across its global portfolio. In this case, if more people don't have to worry about consuming a small amount of peanuts by accident, that could put their overall state of mind at ease and make their time consuming food more enjoyable. As Nestlé continues to change its portfolio, further deals could be coming, especially in its heath-science division. If Aimmune can generate more than $1 billion in sales annually in a few years as some predict, then Nestlé's efforts to increase growth will have a taken a major step forward in large part because of this forward-thinking deal.

Wells Fargo calls for less regulation

On Tuesday Tim Sloan, the chief executive of Wells Fargo, criticised current regulative measures set for banks. Criticisms include the potential subjectivity the Federal Reserve’s annual review of how much money banks are able to give shareholders via dividends as well as the excessive costs and information required to meet propriety trading rules.

http://money.cnn.com/2016/12/06/investing/wells-fargo-trump-regulation-tim-sloan/

Wells Fargo is the poster child for misbehaving banks these days. But it's already pushing the incoming Trump administration for less scrutiny on the industry. Tim Sloan, who became CEO after a firestorm of criticism forced previous boss John Stumpf to retire abruptly, spoke at length on Tuesday at an industry conference about the laundry list of regulations he'd like to ditch. Asked for "one or two" regulatory changes President-elect Donald Trump should focus on, Sloan said he could go on for over an hour on the topic. For instance, he has some concerns about the Federal Reserve's annual review of how much money banks can give to shareholders via dividends, said the chief of Wells Fargo (WFC), which is still being investigated over the creation of millions of fake accounts. Sloan complained that the review has shifted from an "objective standard" to one that may now be too "subjective." Wells Fargo is also miffed by Dodd-Frank's Volcker Rule, which restricts banks from betting heavily with their own money, a pre-crisis trend known as proprietary trading. Sloan concedes that "we were not big fans of proprietary trading at Wells Fargo, and never really did it." Still, he suggested the costs and information required to meet today's rules are excessive. "You kind of scratch your head and say, 'Is there really a lot of added benefit to that?'" Sloan said. Related: Trump wants to unshackle Main Street banks Sloan also complained about the "absolute levels of capital and liquidity" required by big banks these days. "I know what we needed to get through the last downturn, which was pretty severe," Sloan said. Not only was Wells Fargo able to survive, Sloan noted the bank also acquired Wachovia in 2008 for $15.4 billion "without a significant amount of capital." Sloan did not mention the serious injection of government money Wells Fargo received that year or that Wachovia was available at a firesale in the midst of a financial crisis. The bank, under pressure from regulators, accepted $25 billion in TARP bailout funds in 2008. Wells Fargo was the last of the big banks to reach a deal to return the bailout funds in late 2009. Still, Sloan said Wells Fargo would be "more than happy" if Steve Mnuchin, Trump's pick for Treasury Secretary, did something to relax a Fed rule introduced last year aimed at preventing a repeat of the 2008 meltdown. Known as "total loss absorbing capacity," or TLAC, the rule requires mega banks to bulk up on capital that can be used to cushion against losses. The rule is particularly painful for Wells Fargo, which has estimated it may need to sell another $60 billion of long-term debt to meet the requirement. "Those would be some examples, and I can go on for about another hour," Sloan said after rattling off suggested changes. Related: Trump's curious Goldman Sachs connections The incoming Trump administration may be receptive to some of Sloan's ideas. Though few expect Dodd-Frank to be completely killed, Trump's transition website calls the reform law a "sprawling and complex piece of legislation" that he will "dismantle." Ironically, Sloan talked up the idea of dialing back regulation just minutes after acknowledging the "long-term effort" Wells Fargo faces in "rebuilding trust" following the fake account scandal. Just three months ago, regulators slapped Wells Fargo with $185 million in fines for the opening of millions of fake accounts. The bank's conduct, along with its treatment of employees, became a national controversy and Wells Fargo remains under investigation by the Department of Justice, SEC, U.S. Congress and state authorities. "There are things that we need to fix within our culture and weaknesses must be addressed," Sloan said on Tuesday.

US Gain reaches completion on Wisconsin on-farm RNG facility

US Gain has completed a renewable natural gas (RNG) project in Wisconsin, which generates biogas from dairy farming waste, in collaboration with gas clean-up equipment company Nacelle Solutions. The project collects 99% of the methane element of the biogas for use as fuel or energy to meet a growing demand for RNG from Midwest farmers, many of whom already run their own biodigesters. The project is at the Clover Hill Dairy, run by the Bonlender family, and Jon Bonlender said the RNG system would offer environmental and financial benefits by cleaning the air and providing a new income stream.

https://www.bioenergy-news.com/news/u-s-gain-completes-rng-project-at-wisconsin-dairy/

U.S. Gain completes RNG project at Wisconsin dairy U.S. Gain has completed a renewable natural gas (RNG) facility at Clover Hill Dairy in Campbellsport, Wisconsin. The new gas processing plant uses anaerobic digestion to generate biogas from dairy waste. Once extracted, the non-methane components of the biogas are removed so the methane can be used as a fuel or energy source. The Clover Hill project improves access to RNG for the transportation and thermal energy sectors and by capturing 99% of methane during production, the local air quality will be "significantly improved". U.S. Gain has partnered with multiple farming operations in the Midwest to meet the growing demand for RNG. The company's director of RNG Business Development, Bryan Nudelbacher, said: "Many of the large farms already have digesters and we work with them to offtake and distribute the RNG produced. But the Clover Hill project goes one step beyond that. Now, we're also actively leading the development of gas processing facilities and coordinating transportation of pipeline-grade gas to injection sites, drawing on skill-sets from industry experts, as appropriate." Nacelle Solutions, an industry leader in developing gas clean-up equipment designed for the RNG sector, supported U.S. Gain in the Clover Hill Dairy project. "Nacelle has enjoyed working with U.S. Gain and the Bonlenders on the Clover Hill project from its infancy to most recently the first scale of RNG," said Nacelle's co-founder Gov Graney. "We are pleased to see the plant up and running on time and on budget, as well as performing the way we designed it. We look forward to the operations phase of the project where will be safely and continuously producing RNG for U.S. Gain." The Bonlender Family of Clover Hill Dairy said they'd had a methane digester since 2007 and for the past 13 years, it has produced higher-quality manure, electrical production and a renewable bedding source for its animals. Joe Bonlender said: "By replacing our generators with the RNG system, our farm will see many added environmental benefits such as less noise pollution (from generators), cleaner air and less odour. "Our business will also see an added income stream. Our family feels this partnership with U.S. Gain is a great opportunity for our farm and our greater community." Nudelbacher added: "As for the RNG produced, it's of value to fleets on the West Coast, particularly southern California where air quality is a tremendous concern. Fleets that use RNG within their operations are able to claim transportation-emission reductions, strengthening sustainability performance, and also share in the Low Carbon Fuel Standard environmental credit value."

Hippo triples written premiums, expands leadership team

US insurtech Hippo has tripled its growth in direct premiums quarter-over-quarter, and now reports a total insured value of more than $10bn. The firm has expanded its senior leadership, with executive hires including Yuval Harry as head of partnerships and Zachary Kruth as head of finance. It has also made new appointments to its board, including Victoria Treyger, chief revenue officer at Kabbage, and Hugh Frater, chairman of Vereit.

https://www.reinsurancene.ws/insurtech-hippo-reports-solid-growth-and-expansion-of-its-senior-leadership/

California-based InsurTech firm Hippo has recorded solid growth in recent times, tripling its written premiums quarter-over-quarter and with total insured property value now exceeding $10 billion. The InsurTech company has a focus on improving customer experience, and by leveraging its modern home insurance solution, which combines its patented AI framework with a customer service model that uses a “human touch”, Hippo is looking to transform home insurance for homeowners. “Customer care is at the core of everything we do at Hippo, from eliminating process inefficiencies and outdated policy provisions through a user-friendly digital platform and modern product, to incentivizing our licensed sales team against positive customer reviews. “This is about cutting the fat and creating insurance products that are not only more valuable, but less expensive. We pass savings onto the customer in the form of lower premiums, by leveraging a modernized infrastructure which also reduces risk and regularly save clients up to 25% on home insurance,” said Assaf Wand, co-founder and Chief Executive Officer (CEO), Hippo. In a recent move, Hippo teamed up with Comcast to help residential clients save on their annual home insurance and enhance protection beyond what traditional home insurance policies offer, by leveraging integrated IOT home safety devices. The firm states that its smart home solutions provide customers with more comprehensive coverage, while lowering premiums. On its recent growth, Hippo states that its total insured value is now over $10 billion, its renewal acceptance remains above 90%, and it has tripled growth in direct premiums written quarter-over-quarter. Furthermore, over the last six months, the firm has increased its coverage area from 10% of the U.S. population to 40%, launching into eight new states. At the same time, its loss ratio performance has been below the industry average. The company has also doubled its staff this year, and has announced the expansion of its senior leadership in both executive hires and newly appointed board members. The Board Members include Victoria Treyger, Chief Revenue Office at Kabbage, and Hugh Frater, Chairman of VEREIT. While the executive hires include Yuval Harry, Head of Partnerships, and Zachary Kruth, Head of Finance.

Manolete Partners profits surge as insolvency activity gains pace

UK insolvency litigation financing company Manolete Partners' reported FY revenue of £18.7m, up 36% YoY revenues rose 36% with gross profit up 43%. The company expects covid-19 triggered financial disruption to boost new case enquiries.

https://ukinvestormagazine.co.uk/manolete-partners-profits-surge-40-as-insolvency-activity-gains-pace/

UK insolvency litigation financing company Manolete Partners (AIM:MANO) booked bumper full-year financial results, with the increased number of insolvencies likely offering the company an unusual range of opportunities. The company was given a boost by a 36% year-on-year jump in revenues, up to £18.7 million, alongside a 139% increase in new core investments in UK insolvency cases, and an impressive ROI of 173%. The saw Manolete Partners’ EBIT bounce by 36%, while gross profit soared 43% and profit after tax jumped 38% to £7.6 million. The situation for Manolete shareholders was even more rosy. While diluted EPS spiked 70% to 17.00p, the company’s final dividend doubled year-on-year, to 3.00p a share. Speaking on the company’s busy year and the opportunities business closures will offer the company going forwards, Manolete Partners CEO Stephen Cooklin commented: “Despite the challenges of COVID-19, the activity levels within the business are at record levels, highlighted by the 47 new case investments (124% more than the same period last year) and 23 case completions (up from four in the same period last year) that the team has transacted in the first quarter of FY21. New case enquiries are also at all-time record levels, running at around double the rate we had this time last year. We entered FY21 with £8.4m of gross cash, a positive net cash balance and £12m of our HSBC Revolving Credit Facility unutilised. All these factors firmly underpin our confidence in the current and future trading performance of the business. “With the widely reported economic disruption likely to ensue, we expect new case enquiries to increase over the foreseeable future and we will continue working to deliver outstanding returns to both insolvent estates and investors.” Following the update, Manolete Partners shares rallied 6.87% or 35.05p, to 545.05p per share 12:28 BST 03/07/20. This is up on the company’s year-to-date nadir of 235.00p a share in March, but down from its high of 585.00p in mid-May. The Group’s p/e ratio is 39.23, their dividend yield is modest at 0.09%.

Cisco to pump $500m into Berlin smart city effort

California-based IT firm Cisco have announced a collaboration with Berlin's government officials with the aim to introduce a telemedicine system into the city by enabling healthcare professionals to diagnose and communicate with patients across digital platforms; the system would also allow professionals to exchange patient information with consent.

http://www.zdnet.com/article/cisco-invests-500m-in-making-berlin-a-smart-city/

Telefonica Cisco is working with Berlin's government officials to push forward plans in making the city smarter. The San Jose, California-based IT firm announced plans last week to work with Berlin's Senate Department of Economics, Technology and Research in digitizing the lives of Berlin's residents. In a statement, the company said telemedicine -- remote communication and the diagnosis of patients across digital platforms -- security and network infrastructure improvements are the main areas of focus. Cornelia Yzer, Senator for Economics, Technology, and Research in Berlin, and Anil Menon, the Global President of Smart+Connected Communities, joined with Cisco to sign a Memorandum of Understanding, leading to the investment as part of Cisco's $500 million "Deutschland Digital" initiative. The "Deutschland Digital" program, announced in March this year, is Cisco's answer to accelerating the country's digitization. Oliver Tuszik, the general manager of Cisco's German branch, said that digitization benefits countries, cities, and companies by "creating competitiveness, improving public services and better quality of life." As a result, Cisco "would like to make our contribution to this transformation, in addition to our ongoing investments." Through the smart city investment, Cisco hopes to improve telemedicine by establishing a health platform which will allow healthcare professionals, hospitals and emergency services to exchange data -- once permission is granted by patients -- for applications potentially including medical research. The IT firm and government officials say this platform could also "help provide more efficient medical care for refugees in the city." Cisco plans to build a similar platform for the use of public safety and emergency services such as the police, fire brigades and hospitals to use to improve the security of Berlin's residents. The Security Operations Center (SOC) is aimed at improving response times in emergency scenarios and severe weather -- and by integrating weather, traffic and environmental data, Cisco hopes core service staff will have the information they need in emergencies to handle them more effectively. Finally, the tech giant wants to bring the vast range of companies and organizations already turning towards digital solutions together through a "horizontal networking infrastructure" that will be open to all. Based on open international standards, the network will also include security and analytics capabilities. "We are proud to support Berlin in taking this important step. Digitization is a great opportunity for the city to benefit even more from its attractiveness. By signing this Memorandum of Understanding, we want to contribute to improving the quality of life for all citizens and give the Berlin economy an additional boost," Tuszik commented. Read on: Palo Alto CIO: What are smart cities? Must-have high-end smartphones for business users Read on: Top picks

Insurance startup Lemonade takes valuation hit in IPO price range

Lemonade, the buzzy insurance startup backed by Softbank intends to IPO, The company reported a net loss of $108.5 million in 2019, more than double its 2018 losses. The 11 million new shares for sale, coupled with existing stock, priced at the middle of that range would give the company a market cap of around $1.3 billion Business Insider reports. Softbank has had a rocky track record with IPOs of money-losing companies like Uber recently so this is one to watch!

https://www.businessinsider.com/lemonade-insurance-takes-valuation-hit-in-ipo-price-range-2020-6?amp

Email icon An envelope. It indicates the ability to send an email. Facebook Email icon An envelope. It indicates the ability to send an email. Email Twitter LinkedIn icon The word "in". LinkedIn Lemonade insurance founders Daniel Schreiber and Shai Wininger, Lemonade Lemonade, which filed to go public earlier in June, announced on Thursday a price range of $23 to $26 for its public offering. The updated regulatory filing could mean a significant valuation hit for the insurtech firm. Japan's SoftBank holds a significant stake in the money-losing company, and is hoping to rebound from stumbles by Uber and other portfolio companies. Visit Business Insider's homepage for more stories. Insider recommends waking up with Morning Brew, a daily newsletter. By clicking “Sign Up,” you also agree to marketing emails from both Insider and Morning Brew; and you accept Insider’s Terms and Privacy Policy Click here for Morning Brew’s privacy policy. We are so sorry! We bumped into a system failure and couldn't take your email this time. Thanks for signing up! Lemonade, the buzzy insurance startup backed by Softbank, updated its initial public offering documents on Thursday with a price range for its new shares of $23 to $26. The 11 million new shares for sale, coupled with existing stock, priced at the middle of that range would give the company a market cap of around $1.3 billion. In its most recent private funding rounds, the buzzy "insurtech" firm was valued as high as $2 billion, according to Pitchbook data. Softbank, which has had a rocky track record with IPOs of money-losing companies like Uber in recent years, holds a roughly 27% stake in the company. Read more: $2 billion Lemonade is gearing up for an IPO. Here's why analysts aren't convinced it can successfully challenge State Farm and Allstate Lemonade — which uses AI chat bots to sell insurance plans to renters, car owners, and more — reported a net loss of $108.5 million in 2019, more than double its 2018 losses. Revenue, meanwhile, increased three-fold in the same span from $21.2 million to $63.8 million. "We have a history of losses and we may not achieve or maintain profitability in the future," Lemonade's prospectus warns. "We expect that our net loss will increase in the near term as we continue to make such investments to grow our business." Read more: Masa Son is facing one of his biggest challenges yet as the SoftBank Vision Fund racks up billions in losses. 12 insiders reveal where it all went wrong. However, the company's founders say there's a $5 trillion annual market opportunity in dragging insurance out of the dark ages. "As transformative as the prior revolutions were for insurance, there is reason to believe that today's will be even more so," Israeli founders Daniel Schreiber and Shai Wininger wrote in the filing. "No part of the value chain is immune this time: distribution models, business models, statistical tools, systems of management, cost structures, corporate structures, corporate culture, technology stacks, user experience, marketing channels, data sources, data uses, value propositions, human capital — all these and more are being upended."

What is the toll of trade wars on U.S. agriculture?

American agricultural exports to China fell from $15.8 billion in 2017 to $5.9 billion in 2018, according to the U.S. International Trade Administration, and exports have remained depressed in 2019.

https://www.pbs.org/newshour/economy/making-sense/what-is-the-toll-of-trade-wars-on-u-s-agriculture

Editor’s note: This analysis is being published in collaboration with EconoFact, a nonpartisan economic publication. Read the original article here. U.S. agriculture has been caught in the tit-for-tat of the trade wars, most notably with China. American agricultural exports to China fell from $15.8 billion in 2017 to $5.9 billion in 2018, according to the U.S. International Trade Administration, and exports have remained depressed in 2019. The recently signed Phase 1 U.S.-China deal promises some relief. Details remain unclear, but the United States government’s interpretation of this deal is that China will purchase $40 billion of agricultural goods in 2020. Some analysts have questioned how realistic those estimates are, given that the highest level of farm products the United States has ever exported to China was $26 billion in 2012, although one Chinese agricultural consultancy company says this can be achieved. Furthermore, there is a question as to how much of this would be above and beyond what China would have otherwise purchased, particularly given the increased demand for imported pork due to African Swine Fever that has swept through China. Moreover, some share of the figure will be due to recategorization of trade going through Hong Kong. However, there is no doubt the deal is likely to offer some tariff relief through waivers for imports of U.S. agricultural goods. A larger question is whether the disruptions to the agriculture sector induced by trade tensions over the past two years will have longer-lasting effects. Retaliation by China, Canada, Mexico, Turkey and members of the European Union to tariffs imposed by the Trump administration have taken a bite out of U.S. agricultural incomes. Tariffs on imports of steel and aluminum in the United States have also raised costs for machines, equipment and structures used by the agriculture sector. Agriculture incomes would have shown no growth in 2019 but for massive and unprecedented federal assistance. Even with this assistance, however, the agriculture sector shows signs of stress, with a rise in debt, a decrease in solvency and an increased number of bankruptcies. The facts

Man arrested after two police officers hit by Mercedes in Sussex

Two police officers have suffered serious injuries after a car was driven at them, with a man arrested on suspicion of attempted murder after the incident.The Sussex police assistant chief constable Julia Chapman said: “This is being investigated as a deliberate attack on two police officers in the course of carrying out their duties.

https://www.theguardian.com/uk-news/2019/sep/23/man-arrested-after-two-police-officers-hit-by-mercedes-in-sussex

Two police officers have suffered serious injuries after a car was driven at them, with a man arrested on suspicion of attempted murder after the incident. Police believe it was a deliberate act, which came after heightened concerns about the dangers officers face while performing their duties. The incident happened early on Monday morning at Littlehampton in West Sussex, police said. The two officers, a woman and a man, were conducting a roadside drugs check when they and the man they had stopped were hit by a Mercedes saloon that had come towards them at speed. Sussex police said the 20-year-old driver of the Mercedes ran off but was apprehended and arrested on suspicion of attempted murder. Police said they were also searching for two passengers believed to have been the car. The Sussex police assistant chief constable Julia Chapman said: “This is being investigated as a deliberate attack on two police officers in the course of carrying out their duties. Their injuries, and that of the man they were with, whilst serious, are not believed to be life threatening. “Two passengers in the car remain outstanding and we urge the public to help us trace and bring to justice all of those involved.” Sussex police said the two constables injured were local response officers. The two officers and the person they had stopped were hit at about 1.05am on Monday on the A259 at the Body Shop roundabout at Littlehampton, the force said. Officers asked anyone with information or who witnessed the incident to contact them online or by calling 101, and quoting Operation Oxbridge.

Superbugs could kill us before climate change

Superbugs will kill us before climate change does unless new antibiotic drugs are developed, the UK's Chief Medical Officer Dame Sally Davies has warned. Her report showed that 700,000 people worldwide die from drug-resistant infections annually, but this will rise to 10 million each year unless action is taken. The solution is innovation but medical developers such as Cambridge-based Discuva struggle to find funding as new drugs are often seen as unprofitable. However, Davies said she hopes her report will help address this, as something that treats 700,000 people is profitable.

http://www.wired.co.uk/article/antibiotic-resistance-innovation-dame-sally-davies-nhs

The solution is innovation, but the market is failing to deliver. “There have been no new classes of antibiotics introduced to clinical practice since the 1980s,” she says. “There’s a great company in Cambridge called Discuva that has whole new groups of drugs, but it’s struggling to find investment.” Although there’s US, UK and European Union government funding available the amounts are tiny compared to cancer research funding. “The issue is so much bigger and more complex than cancer,” Davies says. “For one thing, those cancer drugs don’t work without antibiotic support.” Her report, she believes, may help solve this. “One problem has been that drug companies fear new drugs will be kept as a drug of last resort by the WHO, making them unprofitable,” she explains. “But 700,000 people are dying every year. We’re at the weapon of last resort stage now. Something that treats 700,000 people every year is a profitable drug.” It’s not just drug research that she’s enthused by. Everything from materials science – like Outbreaker Solutions Inc’s bacteria-killing door handle covers made of compressed salt blocks, to bubbles that can carry drugs through the body and, using ultrasound, disperse to dispense antibiotics only at the point of infection. “This year we’ve seen wave powered energy delivered for less than nuclear powered energy. Climate change started with fear and then became a hugely profitable renewables industry. With superbugs, anyone who can solve the problem of hygiene in hospitals and agriculture will have a billion dollar business.” Until then, Davies is travelling the world to raise the profile of the issue. “You need to retell everyone every five years,” she explains. “Social media can help but you just need to tell people and tell them again and tell them again to keep awareness high. That’s how we’ll get everyone on board – government, industry, the health service, farmers and the public.” And speaking at WIRED Live 2017 may have started the ball rolling – Marcus Shingles, CEO of moonshot innovation non-profit XPRIZE, was in the crowd and followed Davies out of the room when she’d finished her talk. “I was suggesting to her that we launch a superbug XPRIZE,” he says. “Superbugs are a classic example of market failure – Dame Sally gave a timeline and a point of no return that we have to solve or we’re FUBAR. Government is too linear, industry sees no profit, VC’s don’t see any capital, labs have other problems and NGOs struggle to innovate. This is exactly the sort of behavioural science problem the XPRIZE is designed to fix. She was interested – I think it’s going to happen.” Davies says she was “delighted” to have a conversation with Shingles and is hopeful is interest will result in some concrete action. “I would welcome a discussion with him soon to help bring this to fruition.”

Fairfax chairman Prem Watsa spends nearly US$150 million to buy more shares of the company

The chairman and CEO of Fairfax Financial Holdings Ltd. has spent nearly US$150 million to purchase thousands of additional company shares. The Toronto-based company says Prem Watsa bought 482,600 subordinate voting shares over the last few days in the market. The company is engaged in property and casualty insurance and reinsurance and investment management.

https://beta.cp24.com/news/2020/6/15/1_4985685.html

Fairfax chairman Prem Watsa spends nearly US$150 million to buy more shares of the company The Canadian Press Share this story: Prem Watsa, CEO of Fairfax Financial Holdings, speaks during the company's annual general meeting in Toronto on Wednesday, April 9, 2014. (THE CANADIAN PRESS / Nathan Denette) TORONTO - The chairman and CEO of Fairfax Financial Holdings Ltd. has spent nearly US$150 million to purchase thousands of additional company shares. The Toronto-based company says Prem Watsa bought 482,600 subordinate voting shares over the last few days in the market. Watsa says in a news release that he told shareholders at the company's recent annual meeting and earnings call that the company's shares are “ridiculously cheap.” In 35 years since Fairfax began, Watsa says he's never seen Fairfax shares sell at a bigger discount to their intrinsic value. He says he backed up his words by purchasing the shares “as I believe that this will be an excellent long-term investment.” Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management. This report by The Canadian Press was first published June 15, 2020.

Neil Ferguson: UK coronavirus adviser resigns after breaking lockdown rules

Prof Neil Ferguson's modelling helped shape Britain's coronavirus lockdown strategy. He has quit as a government adviser after flouting the rules by receiving visits from his lover. Antonia Staats crossed London from her family home to visit him on at least two occasions since lockdown measures were imposed, on 30 March and 8 April.

https://www.theguardian.com/uk-news/2020/may/05/uk-coronavirus-adviser-prof-neil-ferguson-resigns-after-breaking-lockdown-rules

Prof Neil Ferguson, the epidemiologist whose modelling helped shape Britain’s coronavirus lockdown strategy, has quit as a government adviser after flouting the rules by receiving visits from his lover at his home. Ferguson runs the group of scientists at Imperial College London whose projections helped persuade ministers of the need to impose stringent physical distancing rules, or risk the NHS being overwhelmed. In a statement on Tuesday, he said he was resigning his post on the government’s Scientific Advisory Group for Emergencies (Sage), over an “error of judgment”. The Daily Telegraph revealed that Antonia Staats had crossed London from her family home to visit him on at least two occasions since lockdown measures were imposed, on 30 March and 8 April. Friends told the newspaper that Staats did not believe their actions to be hypocritical because she considered the households to be one. The visits clearly contravene the government’s “stay at home, save lives” message, which urges people to remain within their family groups and not mix with members of other households. “I accept I made an error of judgment and took the wrong course of action. I have therefore stepped back from my involvement in Sage,” Ferguson said. “I acted in the belief that I was immune, having tested positive for coronavirus, and completely isolated myself for almost two weeks after developing symptoms. “I deeply regret any undermining of the clear messages around the continued need for social distancing to control this devastating epidemic. The government guidance is unequivocal, and is there to protect all of us.” Government advisers have repeatedly warned the public against meetings with members of other households. The deputy chief medical officer for England, Jenny Harries, when asked whether partners living separately could visit each other, said on 24 March: “If the two halves of a couple are currently in separate households, ideally they should stay in those households.” She added: “The alternative might be that, for quite a significant period going forwards, they should test the strength of their relationship and decide whether one wishes to be permanently resident in another household.” Ferguson had become a familiar figure in media interviews during the lockdown, helping to explain the scientific rationale for government decision-making. He contracted the virus in mid-March, apparently after attending meetings in Westminster. “Sigh. Developed a slight dry but persistent cough yesterday and self-isolated even though I felt fine. Then developed high fever at 4am today. There is a lot of Covid-19 in Westminster,” he tweeted on 18 March. 04:04 Coronavirus lockdown in the UK: the dos and dont's – video explainer Ferguson’s resignation follows questions over the communities secretary, Robert Jenrick, who travelled to one of his homes outside his constituency to spend lockdown there, and drove to his parents’ house to drop off food and medicines. Colleagues have described Ferguson, 51 – whose background is in modelling rather than medicine – as a workaholic. His colleague Christl Donnelly told the Guardian earlier this year: “He works harder than anyone I have ever met. He is simultaneously attending very large numbers of meetings while running the group from an organisational point of view and doing programming himself. Any one of those things could take somebody their full time. “One of his friends said he should slow down – this is a marathon not a sprint. He said he is going to do the marathon at sprint speed. It is not just work ethic – it is also energy. He seems to be able to keep going. He must sleep a bit, but I think not much.” Staats, 38, is believed to work for an activism organisation. Imperial’s modelling claimed that as many as 500,000 deaths could result in the UK from the Covid-19 outbreak if the government failed to implement stringent enough distancing measures, and Ferguson warned recently that lifting lockdown prematurely could cost 100,000 lives. A government spokesman confirmed Ferguson’s resignation but did not comment further. A statement from Imperial College London said Ferguson “continues to focus on his important research”.

A Kerala scientist's Arctic quest: nosy bears, unending night and icy zen

For a man planning to spend winter on an Arctic ice floe plunged in darkness, Vishnu Nandan seemed in no hurry to pack.Later this week, Nandan, 32, will begin a three to four-week journey from his home in Calgary, Canada, to the RV Polarstern, a German research ship frozen in place atop moving sea ice near the North Pole -- not unlike a chocolate chip encrusted in a cookie.Vishnu Nandan may be a veteran of several polar expeditions -- 16, to be precise, both to the Arctic and the Antarctic -- but that doesn't mean life aboard the Polarstern will be easier for it.

https://www.indiatoday.in/science/story/vishnu-nandan-interview-mosaic-expedition-warming-arctic-climate-change-1621029-2019-11-21

By Ganesh Radha-Udayakumar: For a man planning to spend winter on an Arctic ice floe plunged in darkness, Vishnu Nandan seemed in no hurry to pack. Asked on Tuesday if he had begun, he answered coolly: "Nope." The emoji on the WhatsApp screen smiled in the manner of one obviously flirting with danger. "I will start tonight," Nandan said. Danger is abundant where Vishnu Nandan, a remote sensing scientist from Kerala, is headed. It is, in fact, one of the few abundant things in a wilderness ruled by scarcity: a scarcity not just of warmth -- the last sunlight for months was an amber sliver on the horizon before it vanished -- but also of colour and comfort. advertisement Later this week, Nandan, 32, will begin a three to four-week journey from his home in Calgary, Canada, to the RV Polarstern, a German research ship frozen in place atop moving sea ice near the North Pole -- not unlike a chocolate chip encrusted in a cookie. Snowstorms are common here. Temperatures, in the negative, read like respectable test cricket scores. Deeply inquisitive polar bears roam free. But where there are perils, there is also intellectual excitement. Polarstern is essentially a floating lab; for a whole year it will be home base for hundreds of experts from 19 countries, all taking part in a polar expedition of unprecedented scale. They will collect valuable new data about the Arctic's changing climate, whose effects are felt across the globe. Vishnu Nandan, 32, is the only Indian on the ship; he represents both his country and the University of Manitoba's Centre for Earth Observation Science, where he's currently a post-doctoral fellow. He will remain on board till late February. In phone interviews with IndiaToday.in, he explained how his own expertise helps the expedition, known as MOSAiC (Multidisciplinary drifting Observatory for the Study of Arctic Climate). MELTING LIKE CONFIDENCE DURING A BAD DATE Imagine you're on a first date, but you aren't really feeling it. It isn't your companion's fault -- he's quite charming, actually -- but that aggravating conversation at work is still stuck in your head. Your date notices. His mood dampens. He wonders if you would rather be somewhere else. His confidence begins to melt: he starts talking too much and too fast; his humour now sounds forced; he's trying too hard. Suddenly you really are considering texting a friend to call with an "emergency". Now, what does this have to do with a warming Arctic? More than you might think. advertisement Your perceived lack of interest set off a chain of events that made the date gloomier and gloomier still for both you and your companion. That's a simple example of a "positive" feedback loop: yes, positive, because the trend (of ever increasing gloom) reinforced itself. And it is such loops that govern Arctic climate and its effects elsewhere. When reflective white surfaces like ice recede due to warming, more sunlight is absorbed. This accelerates warming and eats up more ice. Melting sea ice also makes it easier for the atmosphere to draw heat from ocean water, causing even more ice to melt. As the TED-Ed video below explains, such feedback loops can reduce the difference in temperature between the poles and the mid-latitudes, disrupting weather across the globe in dangerous ways. Arctic sea ice is a key research focus for the MOSAiC expedition. A graphic generated by NASA, captivating and alarming in equal measure, shows how this ice cover expands, spins and shrinks with the seasons each year -- and how much it has thinned between the mid-1980s and the current decade. Now, MOSAiC researchers like Vishnu Nandan "will have the opportunity to continually monitor changes in the ice throughout every season", the expedition's website says. advertisement Nandan specialises in using radar to monitor changes in polar sea ice thickness; he will collect measurements using surface-based radar sensors that have already been deployed around Polarstern, the German research vessel. But why radar? Nandan explains: unlike optical satellites, radar works in the absence of sunlight, in the unending night of the Arctic winter. A winter, as you'll soon see, that's capable of shaping much more than choices of equipment. Vishnu Nandan posing with a surface-based radar sensor in Cambridge Bay in the Canadian Arctic, in 2018. The sensor emits radar waves that penetrate sea ice and help researchers understand its geophysical state. 'A PHILOSOPHER-SAINT' Vishnu Nandan may be a veteran of several polar expeditions -- 16, to be precise, both to the Arctic and the Antarctic -- but that doesn't mean life aboard the Polarstern will be easier for it. "It's cold. It's dark. There is no sunlight, so there is a big deficiency of Vitamin D...and on top of it, your loved ones are in Canada, in India, and all over the place. There is limited means of communication. You can get easily depressed," he said. advertisement And the forbidding conditions can test relationships, even with friends. "You see the real character of these people when you work with them in the Arctic, under tough, emotional and technically challenging conditions," Nandan said. "You get to see their real faces." Due to the #storm over the weekend, some new cracks showed up on our floe. The ice movement opened a lead between #Polarstern and 3 of our #science stations. The entire logistics team worked on the ice, pulling out the cables, which got trapped in the lead. : Esther Horvath pic.twitter.com/JMBJYJGLNc MOSAiC Expedition (@MOSAiCArctic) November 19, 2019 When he was growing up in Thiruvananthapuram, Vishnu Nandan didn't dream of icy climes. His current life, he says, "just happened". But his own account describing how is worth a quick retelling: he began as a rookie engineer in TCS, where he resigned "before they threw me out"; he then sat for 71 exams ("I'm not kidding."), for everything from the Indian Engineering Services to the post of assistant loco pilot in the Railways; he finally caught a break with a scholarship to earn a master's degree in earth observation sciences in the Netherlands. Last week, Nandan grew a touch poetic -- and not a little jocular -- as he contemplated life after a long Arctic sejourn cut off from the world. "It's silent. You get this profound peace," he told IndiaToday.in. "I'm sure I'll have a bigger, longer beard and moustache when I come back, with better insights about the whole planet." "I'll most probably become like a philosopher-cum-saint." He already has the laugh: warm, hearty, free. Vishnu Nandan in the East Siberian Sea in 2017.

Investopedia to build on plans to enhance its investor networking site

Investopedia plans to expand Advisor Insights, the networking site which emerged from beta a month ago. The platform, which currently provides a free service provided by financial adviseors who answer questions posed by investors, derives ing its revenue from advertising. Planned upgrades include enabling users to follow specific financial advisers, and allowing advisers to share best practices and other relevant content.

http://www.investmentnews.com/article/20160404/FREE/160409978/investopedia-to-boost-networking-services-on-its-advisor-insights?utm_source=Morning-20160405&utm_medium=email&utm_campaign=investmentnews&utm_visit=584309

Investopedia plans to build out its networking services this year for its new Advisor Insights website, where advisers answer investor questions, to include more marketing tools for advisers, said David Siegel, chief executive of Investopedia. In the next three to six months, the website will allow users to follow specific financial advisers, like they would on any other social media site, let advisers share relevant content from outside of Investopedia and create a portal for professionals to share best practices with one another. Mr. Siegel said the upgrade is an effort for the website to be a central marketing hub for financial professionals. “Our business plan and goals are all about creating value for financial advisers,” Mr. Siegel said. The website does not and will not charge advisers for these tools, he added. Instead, the company makes money through advertising. Advisor Insights first rolled out of beta a month ago, providing advisers a platform similar to NerdWallet to answer general questions on topics such as retirement, college savings and portfolio construction. Michael Kitces, partner and director of research for Pinnacle Advisory Group, a firm in Columbia, Md., and a well-known figure in the wealth management industry, posted on his blog about a week after that it was a bad idea for advisers to spend their time on a site such as this one. “The reason, simply put, is that content sites are in the content business, which means selling advertising or other lead generation activities,” Mr. Kitces wrote in his post. “Which means at best, advisers who are successful on third-party sites will find the companies serving up ads to their competition right next to their own answers.” “Assuming that information-seekers who ask questions online are even likely to hire an adviser in the first place, which they’re probably not,” he added. He suggests advisers answer client questions on their own sites, through a blog or FAQ section, rather than drive traffic to websites like Investopedia. “But when you create content, create it for yourself, so you can build your own business in the long run, not someone else’s,” he wrote. Mr. Siegel said in a conversation with InvestmentNews that advisers’ first priority should be in building an online presence and a solid website, but that having a website and using Advisor Insights do not have to be mutually exclusive. “If someone publishes an article on their site, they have a couple hundred people” viewing it, he said, as opposed to publishing something on Advisor Insights, where a few thousand people may see it. “I would rather a few thousand than a couple hundred.” Arden Rodgers, founder and president of Arbus Capital in New York, said he didn’t sign on to Advisor Insights expecting to generate leads. He approached it as pro bono work. Since using the service, though, he said he has received one inquiry from someone who did not post a question on the website but found his listing and wanted to email him directly. Investopedia, which has spoken with 20 to 30 advisers while building out the website, has responded to Mr. Kitces’ constructive criticism by making advisers’ names, logos and links to personal sites larger. Other recent updates include letting advisers publish thought leadership posts like they would on LinkedIn. In the next six to 12 months, Investopedia will host webinars for advisers and will likely work with advisers to build newsletters, better websites and videos. Tina Powell, chief executive of SheCapital, a women-focused robo-adviser, said it is imperative that advisers constantly add to their own websites, and blogs are usually a good way to do so. It helps keep their site at the top of search engines. Ms. Powell, who uses Advisor Insights, did add though that signing up for Investopedia has helped her company rise up the ranks of Google, and she has received direct leads from the platform. “I never thought that the platform was part of a content marketing program,” Ms. Powell said. “It was always meant to complement what we are already doing.” Advisers do often need to balance the pros and cons of using sites like these or social media channels among the numerous other responsibilities they have for clients, she said. “All of these channels compete for time attention and resources, so we have to be mindful and look at content strategy similarly to the way we manage clients’ money,” she said. “You can’t do everything. You have to be methodical and intentional.”

Australia deploys contact-tracing app for Covid-19

The Australian government's coronavirus contact-tracing app COVIDSafe has launched, but concerns have been raised over privacy. The service is voluntary and only shares data with health officials after receiving consent from infected individuals, according to the government. However, with the ability to store names, phone numbers and postcodes, there is potential for the app to be used for nefarious purposes, especially if it is hacked by a bad actor. Moreover, proposals on data protection legislation are not due until May, though the government has pledged to delete the information once the pandemic passes.

https://www.engadget.com/australia-covid-19-contact-tracing-app-183203946.html

COVID-19 contact tracing apps are arriving in earnest, and it’s clear that privacy is as much of an issue as the effectiveness of the apps. Australia has launched its tracing app, COVIDSafe, despite criticisms of its approach to privacy. The voluntary software is based on Singapore’s TraceTogether and uses a mix of Bluetooth and stored contact data on both the app and servers to let people know if they’ve been in close contact people who’ve tested positive for COVID-19. The Australian government has promised that its app doesn’t collect locations and only shares data with health officials after an infected person offers consent, but there are concerns it might still share more than users are comfortable with. The storage of contact data (including names, phone numbers and postcodes) beyond a device makes it theoretically possible to abuse that info, or for an intruder to access it. There’s also the question of how Australia will enforce its data protections. A legislative directive to enshrine those limitations is only due to be proposed in May. The government has also vowed to delete information on its end when the pandemic is over, but that’s not completely reassuring when there isn’t a clear end in sight. Germany, meanwhile, is going in the opposite direction. The country has ditched its centralized approach to COVID-19 tracking, based on Pan-European Privacy-Preserving Proximity Tracing (PEPP-PT), in favor of a “decentralized architecture” that only stores contact data on devices. This more closely resembles the approach Apple and Google will take when their beta tracing tools arrive in the next few days. It’s not clear when Germany’s app will be ready. Contact tracing apps like COVIDSafe could prove vital to ending lockdowns by making it easier to track the spread (and hopefully, decline) of the virus as public life resumes. Rather than shutting down most of society, officials could limit closures and stay-home orders to specific businesses and people. The challenge is getting enough adoption for the apps to be effective. Australia, for instance, wants at least 40 percent of the population to enlist. That’s a massive amount for any app, and privacy reassurances might be crucial for reaching that target.

Government's policies have created catastrophic unemployment: Rahul Gandhi

Former Congress president Rahul Gandhi on Wednesday hit out at Prime Minister Narendra Modi and Union Home Minister Amit Shah for government's 'anti-people', 'anti-labour' policies that he said have created "catastrophic unemployment"."The Modi-Shah Government's anti people, anti labour policies have created catastrophic unemployment & are weakening our PSUs to justify their sale to Modi's crony capitalist friends.Rahul Gandhi's remark came in the wake of nation-wide strike called by the All India Trade Union Congress (AITUC), Centre of Indian Trade Unions (CITU), Indian National Trade Union Congress and Labour Progressive Federation (LPF) to protest against the Central government's policies to privatise state-run undertakings.

https://www.indiatoday.in/india/story/rahul-gandhi-amit-shah-narendra-modi-1635012-2020-01-08

By Indo-Asian News Service: Former Congress president Rahul Gandhi on Wednesday hit out at Prime Minister Narendra Modi and Union Home Minister Amit Shah for government's 'anti-people', 'anti-labour' policies that he said have created "catastrophic unemployment". Rahul Gandhi said he salutes the 25 crore workers for calling Bharat Bandh. "The Modi-Shah Government's anti people, anti labour policies have created catastrophic unemployment & are weakening our PSUs to justify their sale to Modi's crony capitalist friends. Today, over 25 crore workers have called for Bharat Bandh 2020 in protest. I salute them," he tweeted. advertisement Rahul Gandhi's remark came in the wake of nation-wide strike called by the All India Trade Union Congress (AITUC), Centre of Indian Trade Unions (CITU), Indian National Trade Union Congress and Labour Progressive Federation (LPF) to protest against the Central government's policies to privatise state-run undertakings.

EDF to invest €8bn doubling energy storage to 10 GW by 2035

French utility EDF wants to develop 10 gigawatts of energy storage around the world by 2035 on top of its current 5 GW operations in an €8bn ($10bn) deal. The plans include 6 GW of industrial-sized projects and 4 GW of individual batteries for retail customers. Other European energy giants have announced similar plans. EDF says it wants to become a leader in residential storage and self-consumption services throughout Europe. It says Africa is a priority market and has launched storage systems in Ivory Coast with plans to expand in Ghana. Expansion plans follow a decline in energy storage costs.

https://www.greentechmedia.com/articles/read/edf-to-invest-10-billion-to-triple-energy-storage-by-2035#gs.rpGvOXs

French utility EDF is angling to become the European leader in energy storage solutions. The company unveiled a new Electricity Storage Plan last week with a goal to develop 10 gigawatts of energy storage around the world by 2035, on top of the 5 gigawatts it currently has in operation. EDF said the accelerated plan represents an investment of 8 billion euros — or just shy of $10 billion — between 2018 and 2035. The move comes as other European energy giants, including Enel, E.ON and Total, are also making significant investments in the energy storage sector. EDF is already involved in energy storage technology applications, including batteries and pumped hydroelectric storage. The state-owned utility says its ambitions are focused on all segments of the electricity storage market “to help ensure the smooth running of a balanced electricity system, for residential customers, businesses and countries.” The EDF Group is particularly interested in becoming a leader in residential storage and self-consumption services in France and Europe. Africa is also a priority market for EDF, where the company has a goal to develop a portfolio of 1.2 million off-grid customers by 2035, through local partnerships. EDF has already deployed 15,000 solar and storage systems in Ivory Coast and is now looking to expand its services in Ghana. The utility's renewed push into the energy storage business comes as higher levels of solar penetration and a rapid decline in energy storage costs have made batteries an attractive way to shift peak load and reduce stress on the electric grid. Behind-the-meter installations in particular are projected to accelerate in the coming years. According to GTM Research, behind-the-meter storage will rival utility-scale in deployed capacity by 2022. The same trend is underway in Europe and across the globe. In Italy, local subsidies and a strong solar market are expected to cause behind-the-meter installations to soar after 2021, according to a December report compiled by Delta-ee on behalf of the European Association for Storage of Energy. This growth could enable Italy to overtake Germany, where subsidies also play a big role, as Europe’s top energy storage market after the turn of the decade. Looking further out, however, the report notes that European markets will start to transition away from a reliance on government support to install batteries, toward more market-based growth. EDF, which is heavily invested in nuclear power, is looking to diversify its offerings amid a changing energy landscape. This past year the company launched a new Distributed Energy and Storage business unit in the U.S., building on its 2016 acquisition of groSolar. And in December EDF won a 10-megawatt/40-megawatt-hour contract with Pacific Gas & Electric, enabling the company to build out its expertise in smaller-scale storage projects. Within the next 12 months, EDF plans to launch at least three battery projects to improve the performance and balance of the power system, including EDF Energy’s 49-megawatt battery storage project for Britain’s National Grid — which is set to be one of Europe’s largest battery storage projects. EDF's plan to deploy an additional 10 gigawatts of energy storage by 2035 will comprise 6 gigawatts of industrial-scale projects, including pumped storage and batteries, and 4 gigawatts of individual batteries for retail customers, companies and municipalities, Reuters reports. Faced with rapid advancements in storage technology, EDF is also increasing its research and development capabilities as it increases energy storage deployments over the coming years. The utility plans to double its investments in storage for the power system, to 70 million euros ($86 million) for the 2018-2020 period. In addition, EDF’s Nouveaux Business unit will allocate €15 million ($18.4 million) in the next two years — representing a third of its total investments — to projects and startups linked to electricity storage and flexibility. “Electricity storage technologies have a potential to radically change the energy sector,” said Jean-Bernard Lévy, EDF’s CEO and chairman, in a statement. “EDF’s Electricity Storage Plan is based on the expertise coming from all entities within our Group and 25 years of investment in R&D.” EDF’s new storage strategy follows the unveiling of a Solar Power Plan late last year, in which the company said it would invest 25 billion euros to build 30 gigawatts of solar power capacity in France between 2020 and 2035. The French utility has set a new target to reach a 100 percent carbon-free power system by 2050, Lévy said last week. The new Electricity Storage Plan, coupled with the Solar Plan, “confirms EDF’s ability to enable a competitive ecosystem in order to make our carbon-free future a reality.” -- Will energy storage replace peaker plants? Join GTM & Wood Mackenzie at our new event as we gather industry expoerts from energy storage, utilities and gas insutries to examine technological and regulatory developments, business model innovations, and investments in peaker resources. Learn more here.

Climate change could trigger huge drops in food production by 2100

Nine in 10 people could live in countries with falling food production from farms and fisheries by the end of the century, if climate change continues unchecked. Agriculture will see a 25 per cent reduction in productivity under the worst-case climate scenario. However, if we do more to reduce greenhouse gas emissions, the decline in productivity could be as little as 5 per cent.

https://www.newscientist.com/article/2224798-climate-change-could-trigger-huge-drops-in-food-production-by-2100/

Soya being harvested in Brazil Lucas Ninno/Getty Nine in 10 people could live in countries with falling food production from farms and fisheries by the end of the century, if climate change continues unchecked. Most efforts to study the impact of global warming look at either agriculture or seafood in isolation. Lauric Thiault at the PSL Research University in Paris and his colleagues have now examined the two simultaneously using state-of-the-art climate and crop models. Using today’s national population trends as a guide to the possible global distribution of people in 2100, the researchers found that, in the worst-case climate scenario, about 90 per cent of the global population will live in a country where both sectors have falling food productivity by 2100. Less than 3 per cent of people will live in places where both are rising. Advertisement “Productivity losses are very likely going to be inevitable in some places. But climate mitigation has a big impact on how big those losses are going to be,” says Thiault. Room to adapt Agriculture will see a 25 per cent reduction in productivity under the worst-case climate scenario. If we do more to reduce greenhouse gas emissions, the decline in productivity could be as little as 5 per cent. For fisheries, the difference is a fall of 60 per cent versus one of 10 per cent. Likewise, less warming means more room to adapt: in scenarios with lower emissions, farmers in India could switch to more heat-tolerant crops such as cassava, for instance. Poorer countries in the tropics that have the least capacity to adapt are expected to be the worst hit, but richer countries won’t escape, as food trade will be disrupted, says Thiault. John Porter at the University of Copenhagen in Denmark says the study wrongly equates food production with food security. The last big assessment by the UN’s climate science panel says that many more socioeconomic factors play a role in whether people can get enough food and nutrition. Thiault argues productivity is still an important component of food security.

Solar to overtake wind as fourth largest energy source in 2020

Solar will replace wind as the fourth largest global energy generator from 2020 as it benefits from increased storage capacities and surges in mergers, acquisitions and start-ups, according to the Global Power Industry Outlook. Solar surpassed nuclear energy to reach fifth place last year but will soon be fourth behind coal, gas and hydro. The report also says $2.2 trillion will be spent on new energy capacity by 2021 including $600bm on solar energy. Other trends highlighted by the report include a forecast that the residential battery storage market will be the fastest growing this year.

https://cleantechnica.com/2018/05/25/solar-power-to-become-4th-largest-electric-power-capacity-in-the-world-passing-up-wind/

Originally published on SolarWakeUp. By Frank Andorka Look out, wind – solar is about to catch you. That’s the headline from Frost & Sullivan’s recent analysis Global Power Industry Outlook, 2018, which posits that solar will surpass wind in global energy capacity starting in 2020, making it the fourth largest source of energy generation behind coal, gas and hydro. Less than a year ago, solar surpassed nuclear energy to reach 5th place. The report says increased battery energy storage capabilities, surges in merger and acquisition activities, and disruptive energy start-ups are the primary reasons the renewable energy sector is seeing this surge – and solar has, so far, been the primary beneficiary of this energy capacity expansion. The report also predicts that $2.2 trillion will be invested in new energy capacity through 2021, including more than $600 billion in the solar sector alone. “To navigate through current trends and challenges, organizations must start embracing business models that enhance operational and process efficiency while reducing costs,” said Vasanth Krishnan, Energy & Environment Analyst at Frost & Sullivan. “Adopting disruptive digital solutions that focus on consumer needs will bring the organization closer to technological and efficiency transformation.” The report also highlights several other global energy sector trends, including: ¤ The 3D’s of Power – Decarbonization, Decentralization, Digitalization – continue to be underlying factors determining the global power market landscape; ¤ The residential battery storage market will be the fastest growing in 2018 driven largely by the surge in the behind-the-meter residential deployments in the US, Germany, and Australia; “Analyzing long-term scenarios and defining positioning strategies should be key focus areas for industry participants in the long term,” noted Krishnan. “Also, as the renewable and distributed energy markets mature, a large installed capacity of equipment will need to be serviced, offering attractive growth prospects within the operations and maintenance sector.” For access to the executive summary, click here. Sign up for Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast: I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ... Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps —— grow. So ...

Carling launches competition for Premier League fans

Canadian beer brand Carling has launched a competition for Premier League devotees, with a season ticket on offer. Football lovers entering 'For the Fans' must comment on the competition post and name the friend they'd take to see their preferred club. The competition closes on 7 August. It is one of a series of promotions for the 2018/19 season, including pub landlords handing over the Carling Goal of the Month Award, and the return of ‘They Score, You Score’. Carling was named Official Beer and Cider of the Premier League in 2016.

http://fcbusiness.co.uk/news/carling-launches-for-the-fans-premier-league-campaign/

Carling has launched a new campaign, For the Fans, with a competition giving football fans the chance to win a Season ticket for their beloved Premier League club. The Season Ticket competition will give Carling drinkers the opportunity to attend every home game of the season and share all the highs and lows with a mate of their choice. From 25th July until the 7th August, football fans can enter by visiting the Carling Facebook page. All you need to do is comment on the competition post and announce your footy mate for the season. A mate you’ve never seen a game without? A family member who’s never been to a live game? Carling will be more prominent in the Premier League than ever before and the fans will benefit the most. The ‘For the Fans’ campaign will involve matchday squads hitting venues up and down the country to elevate the pub viewing experience. Promotions running on pack throughout the season with unique Premier League experiences up for grabs. Landlords handing over the Carling Goal of the Month Award for the first time ever and ‘They Score, You Score’ returning after another successful season on the Carling Tap. Miranda Osborne, Carling Brand Director, said: “The Premier League is one of the biggest sporting occasions in the world and we want Carling drinkers to feel the full benefit of our official partnership this season.” Carling became the Official Beer and Cider of the Premier League in 2016, having previously been title partners of the Carling Premiership from 1993 up until the 2001 season. To find out more about Carling Season Ticket and other promotions, follow Carling on Facebook, Twitter and Instagram.

Local Australian banks expected to raise interest rates by at least 0.5%

According to Stephen Walters, a JPMorgan economist, local Australian banks are going to increase interest rates on investor lending by a minimum of 0.5% over the next year. This is in addition to the increase of 0.25% levied on investor loans, and so the four main Australian banks have increased interested rates for investor loans which is making them use more of their own equity. Therefore investors are spending nearly 1% more on their mortgages and so Australia's housing market is slowing.

http://www.fool.com.au/2015/10/01/australias-housing-market-slows-as-investors-face-even-higher-rates/

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources , and more. Learn More Measures already put in place by the major banks have already begun to curb property investor lending is working, and higher interest rates could be coming. JPMorgan economist Stephen Walters has told The Australian that he expects local banks to lift interest rates on investor lending by at least another 50 basis points (0.5%) over the next 12 months, on top of the existing 0.25% increase already levied on investor loans. Lending to investors has soared as property values in Sydney and Melbourne rocketed upwards. The Australian Prudential Regulation Authority (APRA) told banks to limit investor loan growth to 10% or face higher capital requirements in December 2014. As a result the big four Australia and New Zealand Banking Group (ASX: ANZ), Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB) and Westpac Banking Corp (ASX: WBC) recently increased interest rates for investor loans, interest-only loans or lowered the loan to valuation ratio (LVR) limits – forcing investors to kick in more of their own equity. According to RateCity, the difference between investor and owner-occupier interest rates is now up to 85 basis points (0.85%). In other words, investors are paying close to 1% more on their mortgages. HSBC has even gone a step further that the big four, refusing to lend to new investors, following a similar move by AMP Limited (ASX: AMP), as we reported here. Now it seems banks are also taking additional moves to reduce lending to more than 80 ‘risky’ suburbs. NAB has capped LVRs at 70%, meaning borrowers will have to stump up a deposit of at least 30% for some suburbs, while a second group of postcodes have been limited to 80% LVR. The other three majors are expected to follow suit. Before the new rules were put in place, investors could lend as much as 95% of the property price, kicking in just 5% of their own capital. As these actions start to take effect, investor lending growth is slowing. In the year to August 2015, growth was 10.7% – still higher than APRA’s cap rate, but slower than the 11.1% recorded in the 12 months to June 2015. But the Reserve Bank has also suggested a large number of loans were reclassified from investor mortgages to owner-occupied loans. Falling auction rates are another sign that the property market is cooling. Last weekend, Sydney recorded its lowest clearance rate of the year for the third consecutive weekend, falling below the 70% benchmark to 69.6%, according to Domain. That compares to 81.8% reported on the same weekend in 2014 and rates in the 90% range just a few months ago. Foolish takeaway The big question is, will this kick off a property price crash? Unlikely in my opinion, but we could see property prices moderate somewhat. I certainly don’t expect to see Sydney house prices crash 14% like they did between September 2008 and March 2009.

Converse launches Converse CX series

Converse has launched a CX line of sports shoe, which features CX elastic canvas, CX foam and a sole that maximises fit, comfort and durability. Three classic models have been reinvented. The All-Star Disrupt CX, Chuck Taylor Disrupt CX and Chuck Taylor All Star CX feature the soft and resistant material and are available in black, white and red.

https://www.nssmag.com/en/fashion/21248/converse-unveils-the-all-star-disrupt-cx

Since the introduction of the Converse Renew collection with 100% polyester canvas made from used plastic bottles to its return to basketball with the Converse All Star Pro BB, the US brand continues to move forward in design and performance innovation. We’ve always been a progressive brand, but as we enter a new decade we see an incredible opportunity to push the boundaries of our own design and product ethos, Phil Russo, global VP of design & innovation, said. How can we really show up for our consumers with products that reflect their physical and emotional needs? For us, that question has never been more vital. The result of this constant research and experimentation is the new CX line, featuring an innovative toolkit of materials with "triple tread" technology that will revolutionize the way Converse shoes are made. CX is based on three fundamental elements: CX elastic canvas, CX foam and a new sole design. The CX stretch canvas is a type of material that adapts to the wearer's foot, adding fit; while the foam, which combines PU insoles and Phylon midsoles, maximizes comfort by increasing shock absorption. A new outsole design supports CX foam with extra flexibility and durability. The U.S. brand revamps three of its classic models with this soft, yet resistant material: All-Star Disrupt CX, Chuck Taylor Disrupt CX and Chuck Taylor All Star CX. Thanks to its futuristic look, the All-Star Disrupt CX is the most conceptual sneaker in the series. It combines the typical Chuck upper with an exaggerated midsole with an elongated heel counter and a cut in the middle of the foot. Highlighting the Chuck Taylor Disrupt CX is the transparent foxing that adds an alternative style and highlights the new midsole technology. The Chuck Taylor All Star CX mixes the new stretch upper canvas without laces with CX foam and clear foxing. All models are available in a palette of black, white and red. The CX series debuts on March 12 with the launch of the two sneakers made in collaboration with TakahiroMiyashita TheSoloist.; all other silhouettes will be available from March 19 on converse.com and at selected global retailers.

Carbon

A study from the Carnegie Mellon University finds electric vehicles charged in coal-heavy areas can contribute more towards environmental damages and human health problems than the emissions created by conventional-fuelled vehicles. 

http://www.greencarcongress.com/2016/02/20160212-cmu.html

Among the findings of the study, published as an open-access paper in the journal Environmental Research Letters , was that battery electric vehicles with large battery capacity can produce two to three times as much air emissions damage as gasoline hybrid electric vehicles, depending on charge timing. Electric vehicles charged in coal-heavy regions can create more human health and environmental damages from life cycle air emissions than gasoline vehicles, according to a new consequential life cycle analysis by researchers from Carnegie Mellon University. However, the anticipated—albeit now possibly delayed, per the recent Supreme Court decision—retirement of coal-fired power plants will make electric vehicles more competitive on an air emissions basis, the researchers found. (Lifecycle emissions for greenhouse gases, PM, NO x and SO 2 are higher under controlled charging scenarios than in uncontrolled charging due to the generation mix; the researchers found that charging late at night reduces power generation costs by a quarter to a third—largely by shifting to cheaper coal-fired power plants. But the extra emissions released as a result can cause 50% higher costs to human health and the environment.) In the study’s future 2018 grid scenarios that account for predicted coal plant retirements, PEVs would produce air emissions damages comparable to or slightly lower than HEVs. The researchers also found a significant difference between coal and natural gas generation. Even in one of the power systems in the country with the highest coal generation, PEVs could reduce transportation health and environmental damages in the near future, long before a zero-carbon electricity mix is achieved, due primarily to substitution of natural gas for coal on the margin. Life cycle emissions by pollutant and life cycle stage for each vehicle type in the recent (a) and future (b) PJM grid. UC stands for uncontrolled charging and CC stands for controlled charging. Source: Weis et al. Click to enlarge. Carnegie Mellon Associate Professor of Engineering and Public Policy Paulina Jaramillo; Professor of Engineering and Public Policy and Mechanical Engineering Jeremy Michalek; and former Engineering and Public Policy PhD student Allison Weis studied the electricity grid in the PJM region, which includes Washington DC, Philadelphia, Pittsburgh, and Chicago. The team modeled the power plants in the PJM region and looked at how plant operation would change in response to electric vehicle charging load, said Jaramillo. They then modeled the emissions from those power plants, the effects of emissions on air pollution in downwind counties, and the resulting implications for human health and the environment. The study modeled a conventional gasoline vehicle, conventional hybrid, two plug-in hybrids (one modeled on the 10-mile AER Prius PHV and one on the 35-mile AER Chevy Volt) and a battery-electric vehicles (modeled on the Tesla Model S). The most recent year for which all of the necessary data are available to make this assessment is 2010, noted Michalek. The largest source of damage stems from sulfur dioxide emissions from coal-fired power plants, which produce airborne particles that people breathe, according to the study. The study, which was funded by the Doris Duke Charitable Foundation, the Richard King Mellon Foundation, the Electric Power Research Institute, the Heinz Endowment, the National Science Foundation, and Toyota Motor Corporation, also examined a hypothetical case with increased wind power. However, the air emissions damages resulting from electric vehicle charging hinge primarily on the amount of coal in the system, not the amount of wind or solar power, said Jaramillo. When EV charging load is added to a power system, wind and solar plant output can’t be turned up to respond because they are typically already fully utilized. Fossil fuel plants are the ones dispatched in response to new charging load. That’s why the shift away from coal is so important for EVs.Jeremy Michalek While PEVs can double or triple air emission damages in the recent grid relative to HEVs, they could reduce damages in a future grid. However, we estimate that near future (~2018) potential air emissions benefits from PEV adoption in PJM are small relative to HEVs (or even negative when considering the net effect on the automaker’s fleet under federal fuel economy policy). Nevertheless, electrification may offer a promising long term option to significantly reduce air emissions from the transportation sector compared to some other alternative transportation fuels, including biofuels and natural gas, that have been shown to offer small-to-no reductions in GHG emissions and could have unintended consequences like higher global food prices. Indeed, the logistics of regulating emissions from individual vehicles over their functional lives are more difficult than regulation of power plant emissions. Continued regulation of the electricity system can increase the benefits of vehicle electrification, and consequential air emissions implications of PEV charging are already lower in many regions than in PJM. While near-term benefits of PEV adoption in PJM are estimated to be small or negative, a transition of the transportation system could lead to long-term benefits outside the scope of this analysis, including greater benefits in other regions and future emissions savings enabled by a transition to electric vehicles as the electricity grid becomes cleaner and as public policy adjusts. —Weis et al. Resources

Qatar still with three stadiums to finish by 2022 World Cup

Three stadiums are yet to be finished for the 2022 World Cup, but FIFA and Qatari officials are confident they will be completed and tested ahead of the deadline.

http://www.insideworldfootball.com/2020/02/25/qatar-2020-1000-days-go-2-stadia-ready-3-open-year-3-finish/

February 25 – Qatar will open three more of its World Cup 2022 stadiums this year, adding to the two already open. That will leave three more for completion, including the Lusail Stadium that will host the opening game and final. Khalifa International and Al Janoub stadiums are already open. Education City, Al Rayyan and Al Bayt will be inaugurated this year, said a joint FIFA/Qatar 2022 press release. Alongside the stadia, a programme of infrastructure build has seen the opening of a new metro system that was in operation for the Club World Cup (CWC) last December. “New roads and training sites are being completed, the airport expanded and permanent and temporary accommodation will be delivered with the aim of coping with demand while also considering post-event use,” said the press release. There are now 1,000 days to go to the World Cup 2022 kick off with the first significant test of the country’s infrastructure build having been the CWC. Qatar for the most part passed that test with flying colours, despite having to change the venue of the tournament’s showpiece final because the Education City Stadium is not ready. The Khalifa International Stadium hosted both the final and the two semi-finals. Organisers say the tournament brought over 50,000 international fans into the country while the event’s official fan zone welcomed 43,000 visitors. The only reported issue arising was around ticketing, and in particular the corporate ticketing for the rearranged final venue, where clubs were left embarrassed as sponsor tickets arrived late with many unsure of whether they would even get into the game two hours before kick-off. That was a problem neither FIFA or the Qatari organisers took ownership of, leaving red-faced club marketing teams to deal with the fall-out. The CWC 2020 will again be held in Qatar giving the organisers plenty of time to iron out the issues – and more stadium options to play with. FIFA president Gianni Infantino’s effusive assertion that “Qatar wants to amaze the world and is on track to achieve it,” looks accurate. “The FIFA World Cup 2022 will be a breakthrough from a social and cultural perspective. It will open the doors of this football-mad region, offering a new perspective to locals and foreigners, bringing people together and serving as a tool for common understanding,” he said. With confidence high that all stadia will be complete and tested well before 2022 – itself a major step forward and relief for FIFA organisers after the stadium build challenges of Brazil 2014 and Russia 2018 – focus is now turning to “With all our infrastructure projects on track, one of our key priorities now is to shape the fan experience in 2022. We are determined to host a tournament which is welcoming to all and family-friendly, and one that shows our country and region in the most positive light. We learned a lot from the Club World Cup across every functional area and will apply the lessons learned in the 2020 edition and in our 2022 planning,” said Nasser Al Khater, chief executive 0fficer of the Q22. Contact the writer of this story at moc.l1686593720labto1686593720ofdlr1686593720owedi1686593720sni@n1686593720osloh1686593720cin.l1686593720uap1686593720

MC Payment takes controlling stake in Genesis to tap into Chinese commerce

One of Singapore’s oldest fintech firms, MC Payment, has taken a controlling stake in Singapore-based Alipay enabler Genesis. This will allow MC Payment to integrate Genesis’ technology and merchants into one unified platform, and give MC Payment access to Alipay’s 500-million strong userbase.

https://sg.news.yahoo.com/mc-payment-takes-controlling-stake-genesis-tap-chinese-090442594.html

Genesis Payment Solutions’s key advantage is that it allows merchants to accept Alipay – one of China’s largest e-wallet solution One of Singapore’s oldest fintech company, e-payments firm MC Payment — founded in 2005 — has announced it has taken a controlling stake in Singapore-based Alipay enabler Genesis Payment Solutions (Genesis). This deal will see MC Payment integrate Genesis’s technology and merchants, such as Metro Department Store, into its platform. It will also bring on board Jong Kim Poh, Founder and MD of Genesis, to join its senior management team. Poh will remain in control of Genesis, and the company will continue to run as a standalone business. Additionally, through the adoption of major Chinese e-wallet Alipay, MC Payment will gain access to the large Chinese commerce market in key regional countries such as Singapore, Malaysia, Thailand, Indonesia, Hong Kong and Australia. “MC Payment is one of the fastest growing Fintech payment companies in Asia and I am honoured to be part of the team. Their strong reputation and operational strength, coupled with our status as an Alipay acquirer represents significant growth opportunities for MC Payment in the region,” said Poh in an official press statement. Chinese tourist spending in APAC has grown at 26 per cent over the last seven years, bringing in a revenue of US$45 billion in that period. Coupled that with Alipay’s pool of 500 million users, MC Payment’s influence over of Asia’s increasingly competitive payments space looks to make significant growth. “The opportunity to partner with Genesis and Alipay in providing value to new and existing merchants is an exciting one, and I am confident that together, we can strengthen MC Payment’s position as a regional acquirer,” said Anthony Koh, Founder and Group Chief Executive of MC Payment, in an official press statement. In the past year, MC Payment has made several strides in terms of investment. In August, it raised US$4.5 million in a Series B round led by Asia-focused private equity firm ESW Manage along with private investment firm, DZW Capital. Participating investors include Singapore-based VC and private equity firm Golden Equator Capital. Just three months later, it secured a US$3.52 million investment from Thailand’s 2W Group. It also launched two new offices in Bangkok and Bali. — Image Credit: MC Payment The post MC Payment takes controlling stake in Genesis to tap into Chinese commerce appeared first on e27.

We Are Headed for a World Food Crisis. Here's How to Stop It

By 2050, with the global population expected to reach 9.8 billion, our food supplies will be under far greater stress. Demand will be 60% higher than it is today, but climate change, urbanisation, and soil degradation will have shrunk the availability of arable land, according to the World Economic Forum. Add water shortages, pollution, and worsening inequality into the mix and the implications are stark.

https://time.com/5216532/global-food-security-richard-deverell/

The world currently produces more than enough food to feed everyone, yet 815 million people (roughly 11% of the global population) went hungry in 2016, according to the U.N. By 2050, with the global population expected to reach 9.8 billion, our food supplies will be under far greater stress. Demand will be 60% higher than it is today, but climate change, urbanization, and soil degradation will have shrunk the availability of arable land, according to the World Economic Forum. Add water shortages, pollution, and worsening inequality into the mix and the implications are stark. Among those trying to mitigate the risk of collapse is Richard Deverell, director of Britain’s Royal Botanic Gardens at Kew. The gardens, which house “the largest and most diverse botanical and mycological collections in the world” are a key resource for scientists studying a multitude of food security issues: from wild rice varieties that require less water than their domestic counterpart to the proclivity of enset, a banana-like plant that has helped stave off famine in some regions of Ethiopia. The gardens also host the Millennium Seed Bank, which Deverell describes as an “insurance policy” against the extinction of plants in the wild. TIME recently caught up with Deverell at the British Government-backed GREAT Festival of Innovation in Hong Kong to discuss ways to avert a global crisis. What is global food security and why should we be concerned about it? Food security is a really serious issue facing all of humanity. In essence, it’s about how we feed a growing population at a time of climate change, which is unpredictable and not fully understood. Globally, we are reliant on a very slender thread of genetic diversity. According to the U.N.’s Food and Agriculture Organization (FAO), more than 50% of all human calories come from just three plants: rice, maize, and wheat. Read more: Hungry Planet: What The World Eats How vulnerable are our food sources to climate change or disease? Over thousands of years of agriculture, humans have selected plants for particular characteristics, typically their yield. High yield is important for feeding a growing population but it means that our food crops are very homogenous. Currently, only 12 crops account for 75% of all human calories. If a particular pest or pathogen arises, or a particular vulnerability to changing climates, the entire crop becomes vulnerable because of the lack of genetic variability within it. We’ve seen this happen before. In the 1950s, the global banana supply was largely based on a single variety called the Gros Michel. The Panama Virus wiped it out because there was a lack of variability within the crop. But I’m confident there are solutions if we make the right decisions now. There are about 5,500 different varieties of edible plants, and yet we have found ourselves concentrating on a very narrow selection. Another factor is the balance of vegetable-based diets versus meat-based diets. Why are meat-rich diets such a big problem? One of the greatest causes of biodiversity loss and therefore extinction is the conversion of forest and woodland into grazing for cattle. A kilogram of beef is about 30-times more demanding on the environment than a kilogram of plant protein. For a sustainable future, I suspect that quite radical change to our diets is needed. One of the pressures is that developing societies are shifting to a meat-based diet. If the populations of India or China were to adopt the same meat-rich diet as America that would be extremely demanding on global resources. Women in a paddy field during rice harvesting season in Srinagar,Indian administered Kashmir on Sept. 24, 2017. SOPA Images—LightRocket/Getty Images Many Americans see meat as an integral part of every meal. How can this change? The campaign should start with consumers being made aware of what they’re eating and the consequences of that. Do people understand that eating beef is significantly more demanding on the environment than eating pork or chicken? Do people know where their food is coming from? But we are already seeing an uptick in interest in vegan and vegetarian diets — or perhaps eating vegetarian meals three or five times per week. I was in San Francisco last autumn and I was surprised to see the number of posters up urging a vegan diet — in 20 years time, will eating meat in San Francisco be as socially unacceptable as drinking and driving is now? “Meatless meats” are gaining traction but there’s also resistance to the idea of eating food grown in test tubes. Is this the future? There will always be resistance to new technologies. But it’s interesting because they are marketing plant-based burgers not to vegans or vegetarians, but to people who enjoy a beef burger. They are basically saying: try this, this tastes just as good, it’s healthier for you, it’s less expensive and it’s certainly a lot better for the environment. Genetic modification (GM) is another issue where a poor public understanding of the underlying technology has led to an understandable concern. It’s often alleged that GM is not natural. Well, orthodox agriculture is not natural, it’s extremely damaging to the environment and if GM crops can be produced that require less herbicide, or pesticide, or water, then I think we as a society have to understand that there are some benefits involved. Read more: A Turning Point for Hunger in America What do you think will be on our dinner plates in 20 years time? I would hope there would be a greater diversity of food sources; they would be more seasonal, and perhaps locally sourced. I think we’ll still be eating meat but perhaps it will be seen as more of a treat, something that’s special. Our diet evolves all the time: 30 years ago an avocado was a very rare and exotic thing in Britain, and bananas only appeared after the Second World War. What can Americans do now to eat more sustainably? Eat smaller portions. Eat less meat, perhaps fewer times per week. And try to reduce the miles that your food has had to travel. Locally sourced, seasonal food is good for your health and good for the environment. People might also think of growing their own food on a balcony, a roof, or in a garden. Not only is it really enjoyable, but it also reconnects individuals with nature. — Video by Aria Chen / Hong Kong Write to Joseph Hincks at [email protected].

New York art dealer bought six De Koonings for $15,000.

A New York art dealer has discovered six paintings by Willem de Kooning, amongst the contents of a storage locker, he bought for $15,000. The lock-up also included a painting believed to be by Paul Klee, a Swiss-German modernist painter. The locker in Ho-Ho-Kus, New Jersey contained 200 works from the studio of art restorers. As none of the paintings are signed, and the Willem de Kooning Foundation do not authenticate works, Killen has engaged Lawrence Castagna, who once worked for the artist, to verify the paintings and in Castagna's mind " theres no doubt about it" they are De Kooning's work.

https://www.theguardian.com/artanddesign/2018/jul/22/new-york-art-dealer-willem-de-kooning-new-jersey-locker

A New York art dealer who bought the contents of a New Jersey storage locker for $15,000 says he has found six paintings he believes are by Willem de Kooning. David Killen, who runs an eponymous gallery in Chelsea, told the New York Post he believes he also found one work by the early 20th-century Swiss-German modernist Paul Klee. De Koonings can attract huge prices. In autumn 2015, the hedge fund billionaire Ken Griffin reportedly paid $500m (£350m) for Interchange, a 1955 painting by De Kooning, and a work by another abstract expressionist master, Jackson Pollock. In 2016, a single 1970s work by De Kooning sold for $66.3m (£50.4m) at auction. Killen told the Post he bought the contents of the locker in Ho-Ho-Kus, New Jersey, last year, after an auction house passed on the chance. The 200 works of art were from the studio of an art conservator, Orrin Riley, who died in 1986, and his partner Susanne Schnitzer, who died in 2009. Killen said he had not expected much from his purchase, as “what they showed me is a bunch of junk, basically. I didn’t see anything good.” But when he opened the locker, he saw “these huge boxes that say De Kooning on them”. Willem de Kooning in his Long Island Studio, in 1987. Photograph: Robert R. McElroy/Getty Images “What are the odds of finding a De Kooning in a storage unit?” he asked. “It’s unheard of!” Executors, Killen said, thought the works labeled as De Koonings were prints. The paintings are not signed. The Willem de Kooning Foundation, which is based in Manhattan, does not authenticate works. So Killen engaged an expert, Lawrence Castagna, who worked for Riley and for De Kooning and his wife, the painter Elaine de Kooning. Castagna told the Post: “In my opinion, they are [by Willem de Kooning]. There’s no doubt about it.” Willem de Kooning was born in Rotterdam in 1904. He moved to the US – as a shipboard stowaway – in 1926, living first in New Jersey then settling in New York. He worked as a commercial artist and house painter before establishing himself in the burgeoning Greenwich Village art scene alongside such famous names as Pollock, Franz Kline, Barnett Newman and Mark Rothko. De Kooning achieved critical acclaim and commercial success in his 40s, the high point of his output being the Women paintings, starting in the 1950s, and abstract pastoral landscapes inspired by his home on Long Island, where he moved in 1963. He suffered from dementia in old age and died in 1997, aged 92. Castagna told the Post he thinks De Kooning painted the newly discovered works in the 1970s, in East Hampton. Killen said “they weren’t that big a deal in the 70s.” But tastes change, as do the views of critics. At Christie’s in New York in November 2016, Untitled XXV, a De Kooning from 1977, was sold to an unidentified “international buyer” for $66.3m. Killen said he would show the paintings on Tuesday and sell them in the autumn. “Life is full of extraordinary discoveries,” he told the Post. “I’ve paid my dues. I’m ready for membership in the million-dollar club.”

US ad spending rises 5.8% in Q2

Ad spending in the US grew 5.8% in Q2 of 2018, following a 6.5% rise in Q1. A forecast by IPG Mediabrand's Magna unit put the US market on track for its highest ever mark, breaking $200bn in 2018. The 6.1% growth in H1 was a stronger-than-expected performance and projections for 2019 have been revised for further strong growth of 4%.

https://www.mediapost.com/publications/article/325374/us-ad-market-expands-61-in-first-half-2018-po.html

by Joe Mandese @mp_joemandese, September 20, 2018 U.S. ad spending is expanding at a higher rate than anticipated -- jumping 5.8% in the second quarter after rising 6.5% in the first quarter -- and is now on pace to reach a new all-time high for full-year 2018, according to a revised forecast released this morning by IPG Mediabrands’ Magna unit. Magna now projects the U.S. ad market will top $200 billion for the first time this year, wrapping up at about $207 billion for all four quarters, a 6.9% expansion over 2017. “The upward revision was triggered by a stronger-than-expected market in the first half (+6.1%) and robust macro-economic forecasts,” the Magna report explains, adding, “The 2019 forecast was also raised due to continued expectations for economic strength, from +3.6% to +4.0%.”

Wahed launches app to check ethical investments for Muslims

Digital investment platform Wahed Invest has launched a free app that enables its Muslim customers to search for faith-compliant investments. Halal Stock Screener users can search more than 50,000 global stocks and request details on whether they comply with Accounting and Auditing Organization for Islamic Financial Institutions guides on ethical investing. The app also incorporates a tool that enables users to calculate their annual Zakat contributions – one of the Five Pillars of Islam, which obliges Muslims to donate a proportion of their income to those in need. 

https://www.finextra.com/pressarticle/75985/wahed-invest-launches-halal-stock-screener-app?utm_medium=rss&utm_source=finextrafeed

Source: Wahed Invest Wahed Invest (“Wahed”), the first fully digital Halal-focused ethical investing platform, today announced the launch of its “Halal Stock Screener,” a first-of-its-kind, free app that allows investors to determine if a company in which they are considering investing is “Halal.” Currently, faith-based investors are limited to investing in mutual funds or paying institutional rates for Shari’ah certifications. The Halal Stock Screener aims to democratize Halal investing, and is available as a free app on both Google Play and the Apple App store. With Wahed’s Halal Stock Screener, users can search from over 50,000 stocks globally and request an analysis to see if they are AAOIFI compliant and ethical in nature. The analysis uses real-time data supplied by Thomson Reuters, and provides free information, including a company overview, stock pricing, financial ratios, company size, price per share data and estimates, as well as an automated halal quantitative analysis from leading financial organizations. The Halal investing principles are confirmed by screening stocks for tobacco, alcohol, firearms, gambling, adult entertainment, impure food stock, usurious institutions, excess debt, excess interest, and other concerning financial ratios. Stocks are also screened by Wahed’s experts for the presence of interest, or Riba, and all other impermissible sources of income. The app also includes a Zakat calculator, allowing users to accurately determine their Zakat annual contribution, which entails donating a portion of one’s wealth to those in need. Zakat is one of the Five Pillars of Islam. “With thousands of potential stocks available, it can be daunting for people to know if they are investing ethically,” said Kareem Tabbaa, CPO, Wahed. “The new Wahed Halal Stock Screener delivers an easy and fast way to determine if a stock meets a users’ ethical standards. This is an important tool for anyone who wishes to invest ethically, especially Muslims who seek to ensure that their investments are Halal.” Additionally, the Halal Stock Screener app can provide users an official qualitative Shari’ah certification, and a Socially Responsible Investing (SRI) review of the ethical policies on any stock selected, for $9.99 per stock. The qualitative screening determines compliance based on The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) methodology. Wahed is the only Halal-focused investing platform that is overseen by an Ethical Review Board, preventing concerned Muslims and others from investing in companies that do not agree with their values (e.g., companies involved in any aspect of the liquor, firearms, gambling and tobacco industries). The platform also screens investments that generate profit from interest and those that do not comply with certain debt ratios.

Gladstone Institutes Responds to COVID-19 Pandemic

In response to the COVID-19 pandemic, Gladstone scientists have rapidly pivoted the focus of their research labs to the novel virus, SARS-CoV-2. They are leveraging their established tools, unique infrastructure, and diverse expertise in virology to develop improved diagnostics.

https://www.prnewswire.com/news-releases/gladstone-institutes-responds-to-covid-19-pandemic-301027918.html

SAN FRANCISCO, March 22, 2020 /PRNewswire/ -- In response to the COVID-19 pandemic, Gladstone scientists have rapidly pivoted the focus of their research labs to the novel virus, SARS-CoV-2. Specifically, they are leveraging their established tools, unique infrastructure, and diverse expertise in virology to develop improved diagnostics, identify targeted treatment strategies, and invent preventative approaches. Gladstone scientists were instrumental in converting HIV/AIDS from a uniformly lethal disease into a chronic condition, and are now bringing the same urgency and focus to combatting COVID-19 in a comprehensive manner. A few examples are detailed below. In response to the COVID-19 pandemic, Gladstone scientists have rapidly pivoted the focus of their research labs to the novel virus, SARS-CoV-2. DIAGNOSTICS— Jennifer Doudna , PhD, co-inventor of CRISPR technology, and virologist Melanie Ott , MD, PhD, are collaborating to develop a CRISPR-based method to rapidly measure COVID-19 RNA. By combining the technique with iPhone technology, they aim to develop a diagnostic that could deliver rapid results and be widely deployed even far from traditional labs, such as in airports and other ports of entry, and in remote communities throughout the world. , PhD, co-inventor of CRISPR technology, and virologist , MD, PhD, are collaborating to develop a CRISPR-based method to rapidly measure COVID-19 RNA. By combining the technique with iPhone technology, they aim to develop a diagnostic that could deliver rapid results and be widely deployed even far from traditional labs, such as in airports and other ports of entry, and in remote communities throughout the world. TREATMENT— Nevan Krogan , PhD, has discovered all of the human host cell proteins that the virus interacts with to hijack the cell's machinery. These proteins serve as novel targets for drug therapies. Since the high fatality rate is driven by respiratory and cardiac failure, Melanie Ott , Bruce Conklin , MD, and Todd McDevitt , PhD, will test effects of the virus and drug candidates in human lung "organoids" and human heart cells, both developed from human stem cells. Virologist Warner Greene , MD, PhD, is reconfiguring an HIV entry/fusion assay to study entry mediated by the Spike protein of SARS-CoV-2. His team will screen a library of FDA-approved drugs to identify those that could be rapidly repurposed as a treatment for COVID-19 patients or even as a preventive for high risk-groups. The assay could also be used to select the best plasma samples donated by people who have recovered from COVID-19 for infusion into seriously ill patients. , PhD, has discovered all of the human host cell proteins that the virus interacts with to hijack the cell's machinery. These proteins serve as novel targets for drug therapies. Since the high fatality rate is driven by respiratory and cardiac failure, , , MD, and , PhD, will test effects of the virus and drug candidates in human lung "organoids" and human heart cells, both developed from human stem cells. Virologist , MD, PhD, is reconfiguring an HIV entry/fusion assay to study entry mediated by the Spike protein of SARS-CoV-2. His team will screen a library of FDA-approved drugs to identify those that could be rapidly repurposed as a treatment for COVID-19 patients or even as a preventive for high risk-groups. The assay could also be used to select the best plasma samples donated by people who have recovered from COVID-19 for infusion into seriously ill patients. PREVENTION— Leor Weinberger , PhD, has pioneered an innovative approach to fighting the spread of viral pathogens called therapeutic interfering particles (TIPs), which could be an alternative to a vaccine. TIPs are defective viral particles that mimic the virus but are ineffective in replicating. They turn the tables on the virus by hijacking its machinery to transform virus-infected cells into factories that produce even more therapeutic particles, amplifying the effect of TIPs in stopping the spread of virus. TIPs targeting COVID-19 would transmit along the same paths as the virus itself, and thus provide protection to even the most vulnerable populations. This work is made possible in part because Gladstone has biosafety level 3 (BSL-3) facilities on-site, which are now dedicated to work on COVID-19. The BSL-3 research will be overseen by Melanie Ott, in partnership with UC San Francisco and its Institutional Biosafety Committee and Director of High Containment Laboratories. About the Gladstone Institutes To ensure our work does the greatest good, Gladstone Institutes focuses on conditions with profound medical, economic, and social impact—unsolved diseases. Gladstone is an independent, nonprofit life science research organization that uses visionary science and technology to overcome disease. It has an academic affiliation with the University of California, San Francisco. Media Contact: Megan McDevitt | VP Communications | [email protected] | 415.734.2019 1650 Owens Street, San Francisco, CA 94158 | gladstone.org | @GladstoneInst SOURCE Gladstone Institutes Related Links http://gladstone.org

California hugely implicated in Amazon destruction due to crude imports

US imports of oil from the Amazon are contributing to rainforest destruction and greenhouse gas emissions, according to a new report from environmental group Amazon Watch. The study revealed that 230,293 barrels of Amazon crude oil were processed each day by US refineries last year. The Chevron facility in California alone accounted for 24% of the US total, with the state as a whole refining 170,978 barrels per day. The crude is distributed as diesel fuel meaning that “virtually every company, city and university in California and around the country contributes to the destruction of the Amazon rainforest”.

https://www.theguardian.com/environment/2016/sep/28/amazon-crude-oil-us-imports-rainforest-destruction-study

US imports of crude oil from the Amazon are driving the destruction of some of the rainforest ecosystem’s most pristine areas and releasing copious amounts of greenhouse gases, according to a new report. The study, conducted by environmental group Amazon Watch, found that American refineries processed 230,293 barrels of Amazon crude oil a day last year. And California, despite its green reputation, refines an average of 170,978 barrels, or 7.2m gallons, of Amazon crude a day, with the Chevron facility in El Segundo accounting for 24% of the US total alone. The expansion of planned oil drilling poses “one of the most serious threats” to the western region of the Amazon, with most of the oil originating from Ecuador, Peru and Colombia. While green groups have enjoyed some success in fighting the Amazon ambitions of large oil firms like Chevron, other players from countries such as China have moved in, with proposed oil and gas fields now covering 283,172 sq miles of the Amazon – an area larger than Texas. Felling the carbon-rich trees of the Amazon produces greenhouse gases even before the oil is transported and burned, while indigenous communities and the Amazon’s vast trove of biodiversity are also at risk. Ecuador’s state oil company PetroAmazonas recently started drilling close to the Yasuni national park, which is considered to be one of the most biologically rich places on Earth. The park contains 655 endemic tree species – more than the US and Canada combined – as well as two of the last tribes in the world living in voluntary isolation. As oil interests seek to exploit areas of the Amazon, there are fears that indigenous communities will suffer from pollution, displacement and deadly illnesses due to a lack of acquired immunity. “Our demand for Amazon crude is literally driving the expansion of the Amazon oil frontier and is putting millions of acres of indigenous territory and pristine rainforest on the chopping block, ” said Leila Salazar-López, executive director of Amazon Watch. “Breaking free from oil dependence and keeping remaining fossil fuels in the ground is an urgent, collective endeavor, and the life-giving Amazon rainforest must be one of the first places we start.” After crude is refined in California and elsewhere it is distributed as diesel to vehicle fleets across the US. Adam Zuckerman, a California-based campaigner for Amazon Watch, said “virtually every company, city and university in California and around the country contributes to the destruction of the Amazon rainforest.” California has burnished its environmental reputation with lofty goals to cut greenhouse gas emissions, boost energy efficiency and slash petroleum use in cars and trucks. Despite this, the state is dependent upon oil imports from countries such as Ecuador, in part because of clean energy policies that discriminate against the heavy grade oil produced by countries such as Canada. Meanwhile, an explosion at the ExxonMobil refinery in Torrance, California, in February 2015 caused the state to increase its gasoline imports to more than 10 times the typical level. Zuckerman said Amazon Watch wants California to consider human rights issues when it imports oil, as well as for “no go zones” such as the Amazon basin to be established in decision making. Around 40 US businesses that use Amazon crude oil have been contacted by the NGO over the issue. A spokesman for California governor Jerry Brown did not answer whether new laws were being considered to reduce Amazon crude imports but said the administration has taken “nation-leading action to fight climate change, decarbonize our economy and end our dangerous addiction to foreign oil”. A spokesman for the Western States Petroleum Association, which represents refineries in California, said the group did not wish to comment.

BMW partners with Scienlab for electrified drive train development

BMW has partnered with Scienlab, the German power electronics and electronics testing company, to develop energy storage systems and inverters for electrified drive train components in electric and hybrid vehicles. The two companies have collaborated for more than ten years.

http://www.greencarcongress.com/2017/01/20170113-scienlab.html

BMW has selected Bochum, Germany-based Scienlab as a strategic partner and is investing in test laboratories for developing energy storages and inverters. We have already been cooperating with BMW as partners for more than ten years and we have been allowed to accompany the development of several innovations in the area of the electrified drive train. —Michael Schugt, one of four managing directors of Scienlab electronic systems GmbH Scienlab electronic systems GmbH in Bochum produces test systems to test industrial products as well as electrified drive train components for electric and hybrid vehicles. The business unit Test Systems develops customer-specific test environments for high-voltage energy storage systems, battery management systems, inverters, DC/DC converters, charging devices and charging infrastructures, and for the integration of multiple components. Scienlab's Common Rail unit offers testing solutions for all development and manufacturing processes relating to actuators and injectors. As a development partner and engineering service provider Scienlab also offers customer-specific solutions, such as analog and digital measurement and circuitry systems as well as control devises in small series for various applications in automobiles and industry.

France adds 182 MW solar in Q1, surpasses 10 GW solar capacity

France has reached 10.072 GW of grid-connected solar capacity, after 182 MW was installed in Q1 2020, according to the Ministry of Energy’s Department of Data and Statistical Studies. Power generation reached 2.3 TWh during the period, a 3% YoY increase, while solar accounted for 1.7% of France's electricity consumption in the first quarter.

https://www.pv-magazine.com/2020/06/01/france-has-breached-the-10-gw-solar-barrier/

PV parks connected from January to March took France to more than 10 GW of solar. France surpassed 10 GW of grid-connected solar generation capacity in the first three months of the year, after installing almost 7,000 new solar parks, most of them in the sunny south of the country, according to the French Ministry of Energy’s Department of Data and Statistical Studies (SDES). The nation’s grid-connected PV capacity reached 10.1 GW at the end of March after 182 MW of solar was connected in the first quarter. PV power generation in the period amounted to 2.3 TWh, an increase of 3% compared to the same window in 2019, according to the SDES figures, as solar power accounted for 1.7% of French electricity consumption in the first three months. France added 6,933 new installations in the first quarter, with the 182 MW added an annual rise of 7%, the SDES reported. The additional solar plants pushed total capacity in the country to 10,072 MW, up from 9,892 MW at the end of last year. Popular content The first quarter of last year brought 6,994 new installations with a combined capacity of 170 MW. The new connections this year were mainly concentrated in the southern regions of Auvergne-Rhône-Alpes, Nouvelle-Aquitaine, Occitanie and Provence-Alpes-Côte d’Azur, which between them supplied 122 MW of the new generation capacity.

Denso to invest $1bn in US car manufacturing facilities

Automotive technology company, Denso, is to spend  $1bn in Maryville, Tennessee as a part of the company's wider strategic investments in North America. The plant will be Denso's primary manufacturing centre in North America focused on electrification and safety systems. Denso acts as Toyota's main supplier, and argues that the facility will play a significant role in developing electrification systems to meet the rising demand for electric vehicles. 

https://roboticsandautomationnews.com/2017/10/10/denso-to-invest-1-billion-in-us-electric-automotive-manufacturing/14415/

Denso, one of the world’s largest automotive technology suppliers, is expanding its US footprint with a $1 billion investment in its Maryville, Tennessee location. Denso says the investment is part of its commitment to advancing automotive innovation in North America, and will significantly increase the role North America plays in the global trend toward vehicle safety and electrification. Denso will create more than 1,000 jobs in Maryville, Tennessee to make it a primary manufacturing center in North America for electrification and safety systems. Globally, Denso is a leading developer of electrification systems for environmentally-friendly automobiles, sophisticated functions involved in vehicle safety and security, and new services that connect vehicles and society. These systems will play a crucial role in meeting increasing electric vehicle demand, argues Denso, which is Toyota’s main supplier. Kenichiro Ito, chairman of Denso North America and CEO of Denso International America, says: “This is an investment in the future of Denso, and also the future of transportation. “We are seeing dramatic shifts in the role of transportation in society, and this investment will help position us to meet those changing demands.” Denso’s $1 billion investment will create about 1,000 new production and support jobs, including technicians and engineers. The investment will also expand multiple production lines to produce advanced safety, connectivity, and electrification products for hybrid and electric vehicles. These new products will radically improve fuel efficiency and preserve electric power by recovering and recycling energy, and by connecting all systems and products inside the vehicles. Denso says its products will create “the highest efficiency for a whole vehicle” by anticipating the road environment via collaboration with information outside the car and using data to enhance performance of electrified products. Denso previously announced a $400 million investment in Maryville in 2015, adding 500 jobs and consolidating various warehouse operations into one central location. The company broke ground on the facility in July 2016. The $1 billion investment in Maryville is the latest in a line of strategic investments in North America for Denso. The company recently invested $75.5 million in its Southfield, Michigan headquarters and Dublin, Ohio facilities. Share this: Print Facebook LinkedIn Reddit Twitter Tumblr Pinterest Skype WhatsApp Telegram Pocket

Stabbings in The Hague may have terrorist motive

A Syrian man who stabbed three people in The Hague on 5 May has been charged with three counts of attempted murder; A terrorist motive has not been ruled out yet by the public prosecution department. The 31-year-old man had previously stated that "unbelievers will suffer" and has a history of mentally disturbed behaviour. The prosecution department admitted that it had been tipped off about him in March and are currently trying to contact the tip giver. The case will be heard at the high security courthouse at Schiphol airport which normally is used for cases involving terrorism.

https://www.dutchnews.nl/news/2018/07/terrorism-not-ruled-out-in-the-hague-stabbing-investigation/

The Syrian man arrested in The Hague for stabbing three people on May 5 has been charged with three counts of attempted murder and a terrorist motive has not been ruled out, the public prosecution department said on Monday. The investigation has turned up a Facebook message in which the 31-year-old stated that ‘unbelievers will suffer’ and the prosecution department admitted in late May that it had been tipped off about Malek F’s threats in March. Police are still trying to contact the tip giver. F, who was shot by police during his arrest, is known to have a history of mentally disturbed behaviour and The Telegraaf reported that he had been involved in an incident in February where he threw furniture and possessions out of the window of his flat in the city centre. Now the public prosecutor says the man should be sent to a secure psychiatric unit for observation, to assess the nature of his psychiatric issues. He has twice spend time in a psychiatric hospital in The Hague. F is due to appear in court on Monday for a procedural hearing. The case will be heard at the high security courthouse at Schiphol airport, as is usual in cases where terrorism may be involved, the public prosecutor said.

Almost 40% of the world's countries will witness civil unrest in 2020, research claims

Nearly 40% of the world's 195 countries will see civil unrest during 2020, according to Verisk Maplecroft. Risk of backlash by security forces is deemed high in countries such as Russia, Saudi Arabia and China. There are 195 countries in the world, if the Vatican and Palestine are included. 47% of those states witnessed a rise in civil unrest in 2019.

https://www.cnbc.com/amp/2020/01/16/40percent-of-countries-will-witness-civil-unrest-in-2020-report-claims.html

KEY POINTS Nearly 40% of the world's 195 countries will see civil unrest during 2020, according to Verisk Maplecroft. Risk of backlash by security forces is deemed high in countries such as Russia, Saudi Arabia and China. Corporations will be under increased pressure to avoid getting tangled up in this "new normal." Protesters march on a street during a rally against the extradition law proposal on June 9, 2019 in Hong Kong China. Hundreds of thousands of protesters marched in Hong Kong in Sunday against a controversial extradition bill that would allow suspected criminals to be sent to mainland China for trial.(Photo by Anthony Kwan/Getty Images) Anthony Kwan | Getty Images Almost a quarter of the world's countries witnessed a surge in protest and unrest last year and that figure is set to rise further in 2020, according to a new study. There are 195 countries in the world, if the Vatican and Palestine are included, and a newly released index of civil unrest has claimed that 47 of those states witnessed a rise in civil unrest in 2019. The data model, published Thursday by socio-economic and political analysis firm Verisk Maplecroft, has also predicted that in 2020, the number will balloon to 75 countries. The U.K. consultancy identified Hong Kong and Chile as the two flashpoints suffering the largest increases in unrest since the beginning of 2019. Neither country is expected to find peace for at least two years, according to the research. Shi'ite Muslim rebels hold up their weapons during a rally against air strikes in Sanaa March 26, 2015. Khaled Abdullah | Reuters Other areas now considered hotbeds of civil protest include Nigeria, Lebanon and Bolivia. Beyond these three, countries dropping into a category labeled "extreme risk" include Ethiopia, India, Pakistan and Zimbabwe. Since the previous index release, Sudan has overtaken Yemen to become the highest risk country globally. Sudan has been locked in crisis since ruler Omar al-Bashir was overthrown in April. The country has been beset by protests and killings as military forces battle pro-democracy supporters to control the country. Conflict in Yemen has been raging since 2015 as Shia and Sunni Muslim forces wrestle for power. Maplecroft's predictions for 2020 are bleak with both the number of countries witnessing protest and the intensity of unrest tipped to rise.

Jefferies profit jumps more than four-fold on strong trading

Jeffries Group, the investment banking unit of Leucadia National, reported net earnings of $87.18m in Q4 2016, up from $19.96m year on year. Investment was low last year because investors were scared off by uncertainty over US interest rates, the Chinese slowdown, and a sharp drop in oil prices. Revenue from equities and fixed-income products doubled to $325m as trading surrounding the US presidential election and the Brexit vote added to market volatility. Jeffries is traditionally the first bank to report profits, and is viewed as a bellwether for the industry.

http://www.cnbc.com/2016/12/20/jefferies-profit-jumps-more-than-four-fold-on-strong-trading.html

Jefferies Group, the investment banking unit of Leucadia National , reported a sharp increase in quarterly profit on Tuesday, driven by strong revenue in its equities and fixed-income securities trading business. Net earnings attributable to Jefferies jumped to $87.18 million in the fourth quarter ended Nov. 30 from $19.96 million a year earlier, when investors were scared off by uncertainty over U.S. interest rates, a slowdown in China and a sharp drop in oil prices. Equities and fixed-income revenue more than doubled to $325.38 million as trading surrounding the U.S. presidential election added to the market volatility sparked by Britain's Brexit vote. Jefferies' investment banking revenue rose 11.3 percent to $415.07 million in the quarter, boosted by higher fees from advising on mergers and acquisitions. New York-based Jefferies traditionally kicks off the reporting season for investment banks and is often viewed as an indicator of the performance of bigger Wall Street banks.

itarle Partners with Celer to Offer Enhanced Execution Algorithms

Multi-algorithmic trading provider itarle has partnered with multi-asset OMS and EMS platform provider, Celer Technologies to offer its optimised execution algorithmic strategies "across a multitude of asset classes and product lines." Itarle provides algorithms for more than 70 futures and options, fixed income, FX and equity exchanges globally. Paul Lynch, CEO of itarle said: "Our clients will benefit from access to an extended range of markets and additional asset classes through the advanced platform that Celer provides."

http://www.financemagnates.com/institutional-forex/execution/itarle-partners-with-celer-to-offer-enhanced-execution-algorithms/

itarle, a provider of multi-asset algorithmic trading, Smart Order Routing (SOR) and Transaction Cost Analysis (TCA) services, today announced the availability of its optimised Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term algorithmic strategies through a partnership with the multi asset OMS and EMS platform provider, Celer Technologies. Our clients will benefit from access to an extended range of markets and additional asset classes. The algorithms have been built from the ground up using individual market microstructure properties to provide clients with a completely tailored and adaptive execution service. Join the industry leaders at the Finance Magnates London Summit, 14-15 November, 2016. Register here! At a time when market participants are increasingly adopting algorithmic trading strategies, this partnership sees itarle continuing to lead by example in successfully integrating its services across a multitude of asset classes and product lines. Paul Lynch, CEO of itarle, commented: “Cultivating new relationships with the leading OMS and EMS providers is a logical extension to our services and we are very much looking forward to working with Celer. Our clients will benefit from access to an extended range of markets and additional asset classes through the advanced platform that Celer provides.” itarle provides algorithms for trading on over 70 futures and options, fixed income, FX and equity exchanges globally, enabling clients to trade using their own Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term memberships and a range of connectivity channels. Ben Cuthbert, Chief Executive Officer of Celer, added: “We are delighted to be able to offer a new service to our clients that leverages the most advanced execution algorithms from itarle. These algorithms will further extend the trading efficiencies offered through Celer.”

North Korean nuclear test prompts South Korea to seek US weapons support

South Korea is reportedly in talks with the aim of securing the US’s agreement to deploy strategic weapons on the Korean peninsula. The move comes following North Korea’s announcement on 5 January that it had tested a hydrogen bomb. Observers suggest that the US is limited in the military action it can take over fears that it will provoke North Korea’s unpredictable ruling regime. In 2013, the US sent two nuclear-capable B-2 stealth bombers on a sortie over South Korea in a show of force when North Korea last tested a nuclear device. North Korea subsequently threatened a nuclear strike on the US. South Korea has described the latest test as a “grave violation” of a bilateral agreement made in August 2015, which was designed to improve relations and ease tensions between the two Koreas. China meanwhile has suggested a resumption of the six-party talks between the Koreas, China, Japan, Russia and the US as a means of curtailing North Korea’s nuclear programme.

http://www.straitstimes.com/asia/east-asia/obama-in-call-with-south-koreas-president-reaffirms-commitment-to-countrys-security

SEOUL (REUTERS) - South Korea is in talks with the United States to deploy United States strategic weapons on the Korean peninsula, a South Korean military official said on Thursday (Jan 7), a day after North Korea said it successfully tested a hydrogen nuclear device. South Korea also said it would resume propaganda broadcasts by loudspeaker into North Korea from Friday (Jan 8), which is likely to infuriate its isolated rival, in response to its fourth nuclear test. The United States and weapons experts voiced doubts the device North Korea tested on Wednesday (Jan 6) was a hydrogen bomb, but calls mounted for more sanctions against it for its rogue nuclear programme. The underground explosion angered China, which was not given prior notice although it is North Korea's main ally, pointing to a strain in their ties. The test also alarmed Japan. Its prime minister, Shinzo Abe, agreed with US President Barack Obama in a telephone call that a firm global response was needed, the White House said. Obama also spoke to President Park Geun-hye of South Korea to discuss options. A South Korean military official told Reuters the two countries had discussed the deployment of US strategic assets on the divided Korean peninsula, but declined to give further details. After North Korea last tested a nuclear device, in 2013, Washington sent a pair of nuclear-capable B-2 stealth bombers on a sortie over South Korea in a show of force. At the time, North Korea responded by threatening a nuclear strike on the United States. South Korea, technically in a state of war against the North, said it was not considering a nuclear deterrent of its own, despite calls from ruling party leaders. The United States is highly unlikely to restore the tactical nuclear missiles it removed from South Korea in 1991, experts said. The test was a "grave violation" of an August agreement by the two Koreas to ease tension and improve ties, a South Korean national security official, Cho Tae-yong, said in a statement. "Our military is at a state of full readiness, and if North Korea wages provocation, there will be firm punishment." The South raised its military alert to the highest level in areas along the border near its propaganda loudspeakers, the South's Yonhap news agency reported late on Thursday (Jan 7). The United States is limited in its military response for fear of provoking an unpredictable regime in Pyongyang, said Anthony Cordesman, a defence policy expert at the Washington-based Center for Strategic and International Studies think-tank. "Any escalation in this region, any over-reaction can easily lead to not only a conflict between South and North Korea, but drag China and the United States and Japan into a confrontation," Cordesman said. A Chinese foreign ministry spokeswoman called for a resumption of so-called six-party talks between the two Koreas, China, the United States, Japan and Russia aimed at curbing North Korea's nuclear ambitions. "We are worried about how things are developing," the spokeswoman, Hua Chunying, told a briefing. Asked about a suggestion from US Republican presidential front-runner Donald Trump that China could do more to rein in North Korea, Hua said: "What constructive efforts have they made?" Hours after the nuclear test, the United Nations Security Council said it would work immediately on significant new measures against North Korea. Diplomats said that could mean an expansion of sanctions, although major powers might baulk at an all-out economic offensive. SURPRISE North Korea has a long history of bellicose rhetoric against the United States and its Asian allies but its assertion that it had tested a hydrogen device, much more powerful than an atomic bomb, came as a surprise. North Korea also said it was capable of miniaturising the H-bomb, in theory allowing it to be placed on a missile and threatening the U.S. West Coast, South Korea and Japan. The US State Department confirmed North Korea had conducted a nuclear test but the Obama administration disputed the hydrogen bomb claim. "The initial analysis is not consistent with the claim the regime has made of a successful hydrogen bomb test," White House spokesman Josh Earnest told reporters. The test took place two days ahead of what is believed to be North Korean leader Kim Jong Un's birthday. North Korea called the device the "H-bomb of justice", but its state news agency also said it would act as a responsible nuclear state and would not use its nuclear weapons unless its sovereignty was infringed. The impoverished state boasts of its military might to project strength globally but also plays up the need to defend itself from external threats as a way to maintain control domestically, analysts say. Hydrogen bombs use a two-step process of fission and fusion that releases substantially more energy than an atomic bomb. However, it will likely take several days to determine more precisely what kind of device was set off as a variety of sensors, including "sniffer planes", collect evidence. A US government source said Washington believes North Korea had set off the latest in a series of tests of atomic bombs.

Sherlock Biosciences Announces Research Collaboration with Dartmouth-Hitchcock Health to Launch Study of CRISPR-based Test for SARS-CoV-2

Sherlock Biosciences and Dartmouth-Hitchcock Health will launch a clinical study of the Sherlock CRISPR SARS-CoV-2 kit for the detection of the novel coronavirus that causes COVID-19. The kit is the first and only CRisPR-based diagnostic test to receive EUA from the FDA for qualitative detection of nucle acid from SARS.

https://synbiobeta.com/sherlock-biosciences-announces-research-collaboration-with-dartmouth-hitchcock-health-to-launch-study-of-crispr-based-test-for-sars-cov-2/

Because Being In The Same Room Is Better Than Being On The Same Zoom! @ the Oakland Marriott City Center, Oakland CA

MIPS helmets dominate in safety rating study

Helmets equipped with MIPS technology accounted for 80% of top-rated helmets included in a recent study by Virginia Tech. The technology is engineered to spread out oblique impacts, meaning less force is absorbed by riders' heads. Many bicycle accidents involve oblique impacts, where the head takes a blow from an angle rather than a direct hit.  

https://www.bikeradar.com/news/safest-road-mtb-helmet/

Virginia Tech’s Helmet Lab has released its latest round of cycling helmet safety assessments, rating 138 helmets this year – a number that’s grown from 86 in 2019. Advertisement The helmets tested include mountain bike, road and urban models, as well as helmets that include MIPS and non-MIPS helmets. Virginia Tech’s tests are carried out with funding support from the US-based Insurance Institute for Highway Safety, and are more comprehensive than the standard test that all helmets must pass before they are put on sale. As well as straight-on impacts, the tests include assessment of oblique impacts, as well as points of impact on the side of the helmet. Virginia Tech assigns a score to each helmet based on its tests, with a lower score being better. It also gives each helmet a star rating out of five. The full list of the 138 helmets tested is here and can be filtered by the style of helmet, budget options costing under $100 and whether helmets are certified for use in snow sports or skateboarding, as well as for cycling. Ten safest mountain bike helmets as rated by Virginia Tech Specialized Read our pick of the best mountain bike helmets we’ve reviewed. Ten safest road cycling helmets as rated by Virginia Tech Giant Rev Comp MIPS Lazer G1 MIPS Specialized Align II MIPS Lazer Tonic MIPS Lazer Century MIPS Scott Centric Plus MIPS Giant Rev Pro MIPS Liv Rev Pro MIPS Lazer Sphere MIPS Lazer Cyclone MIPS Read our pick of the best road bike helmets and our 35 favourites. Ten safest urban helmets as rated by Virginia Tech You’ll see some helmets in Virginia Tech’s list of urban helmets that appear in the list of top ten road helmets too. That’s because it assessed them under multiple categories. There are also a few helmets that are skate certified and/or snow sports certified as well as being designed for cycling. The eagle-eyed will note the one helmet that doesn’t have MIPS in its name is the Lazer Anverz NTA. That’s because it’s designed for ebike riders, with the ‘NTA’ suffix signifying that it passes the Dutch NTA ebike helmet standard, which is tougher than that for regular cycles – and the Anverz NTA does indeed include MIPS in any case. Specialized Mode MIPS Specialized Align II MIPS Scott Centric Plus MIPS Lazer Cyclone MIPS Scott ARX Plus MIPS 2020 Lazer Anverz NTA Bontrager Solstice MIPS Lazer Cruizer MIPS Bern Union MIPS Lazer Cannibal MIPS All the top tens include MIPS Ben Delaney / Immediate Media One word appears in all but one of the helmet names above, and that’s MIPS. In part, this reflects just how prevalent MIPS is in the cycle helmet market now, but also the MIPS patent’s overall dominance in sliding plane technology in helmets. It’s designed to help dissipate energy in oblique impacts so that less of the impact force is transferred to the rider. Many bike crashes involve oblique impacts to the head and Virginia Tech’s testing suggests that extra protection from this type of crash is an important feature. The majority of tested helmets rank highly Another take-away is just how many of the tested helmets are highly ranked by Virginia Tech. Its methodology includes a formula to assign a star rating, so it’s not just an arbitrary number. Of the 138 helmets tested, 72 were rated five stars – that’s 52 per cent. A further 37 – or 27 per cent – were rated four stars. This means that, overall, 80 per cent of the helmets tested achieved Virginia Tech’s recommended level of five- or four-star protection. You don’t have to spend a fortune to get a helmet that will protect you well either. Virginia Tech quotes a price of just $65 for the top-rated road helmet – the Giant Rev Comp MIPS – while four of the top ten road helmets cost under $100. There are two MTB helmets costing under $100 and four urban helmets costing under $100 in their respective listings too. How does Virginia Tech test its helmets? Virginia Tech’s testing uses a standard drop tower, which is the standard tool used to test bike helmets. It drops the helmet down a slider and lands it on a steel anvil. Virginia Tech covers this with coarse sandpaper, which it says helps to better simulate real-life road conditions. Tests are carried out at two different impact speeds and in six different positions on the helmet, including on the rim. The method tests oblique impacts as well as those taken head-on. Each test is repeated twice, for a total of 24 tests on each helmet. Accelerometers are positioned inside the headform on which the helmet is mounted to measure the linear and rotational forces acting on impact. A formula is then used to convert this data into an overall score and a star rating, with a lower score being better. Advertisement Virginia Tech says that its testing is more complete than standard tests, which do not include impacts on the rim, although this is often where contact will occur in a crash. You can read Virginia Tech’s full description of its methodology here.

Jaguar said it chose not to beat Tesla's 'ludicrous mode'

Jaguar has refused to join an acceleration race against Tesla with the launch of its first electric SUV, the I-PACE, even though it claims its vehicle could have been made to out-accelerate the Tesla Model S and Model X cars if it had so wanted. Tesla claims its $250,000 Model X can accelerate in “ludicrous mode” to 100km/hr in just over three seconds. Jaguar’s $119,0000 car’s 4.8 second time will not match that because, said I-PACE engineering manager, its emphasis was on drivability and reliability. Electric SUV competitors to I-PACE are expected to come from Audi and Mercedes.

https://www.motoring.com.au/jaguar-can-beat-teslas-ludicrous-mode-112845/

Jaguar can beat Tesla's ludicrous mode But chose not to… Jaguar says drivability the ultimate goal, not bragging rights Jaguar says it decided not to be drawn into an acceleration race with Tesla with its first EV, the I-PACE. Tesla’s Model S and Model X EVs have made headlines with their hard-core 'ludicrous' launch mode which generates supercar-beating acceleration. But Jaguar has resisted the temptation, insiders say. The brand’s first battery-electric SUV, the $119,000 Jaguar I-PACE therefore cannot match the $250,000 Tesla Model X P100D's heroically rapid 0-100km/h sprint of 3.1secs. Jaguar I-PACE's engineering manager, Dave Shaw, told motoring.com.au that the I-PACE could have easily overthrow the Tesla Model X as the fastest accelerating SUV in the world if that was the objective -- but the priority was drivability and reliability. "We weren't looking for bragging rights, deliberately not… No," Shaw said during this week’s Jaguar I-PACE launch in Portugal. "It certainly wasn't because we couldn't… It's because we didn’t want to. We chose not to," he stated. Despite having similar battery density to the Tesla Model X and the capability to fire almost as much energy from its 90kWh battery and into the twin electric motors (1300 amps versus the Tesla's 1500 amps), the I-PACE’s focus was ensuring customers get the full luxury car experience, Shaw said. "This car for us was all about proving that we're an innovative company but also delivering a Jaguar [experience] – and that's absolutely key, this car has to be a Jaguar," Shaw stated. "There's many, many customer attributes and [it’s like] they're all on a graphic equaliser and you just dial it in to what the customers wants and expects. And they key for us with this car is to make it as appealing to as many people as possible," added Shaw. The Jaguar I-PACE doesn't have a dedicated launch mode but it does sprint to 100km/h from standstill in 4.8secs, which is slightly better than the Tesla Model X 100D's 4.9 secs, a car whose circa $180,000 price is closer to that of the I-PACE than the quarter-million dollar ludicrous mode-equipped Model X. "Fundamentally the [acceleration] limit is often the mass properties of the car and contact patch of the tyres and the ability to transfer the energy into the motors. But then you get into the drivability and what you want the customer to feel," said Shaw, implying the new I-PACE will deliver a more seamless driver experience. "Do you want a smooth take-off or a violent take off or to break your neck?" he asked.

Amazon prepares payments industry onslaught

With increasing interest in Amazon's revenue and gross merchandise value (GMV) metrics, the digital marketplace has expanded its digital payments services, and seeks to grow in this area even more. In the US, three out of four smartphone users have the Amazon app installed, with 80 million Amazon users and 33 million Amazon pay customers, so it certainly has the reach. It also has a sound cloud solution, which would be able to handle payments processing, and thus use its current infrastructure to create a suitable payments network.

http://uk.businessinsider.com/amazon-has-big-plans-to-disrupt-the-payments-industry-2017-7

BI Intelligence This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. As Amazon prepares to report Q2 earnings today, all eyes will be on its growth in revenue and gross merchandise value (GMV) metrics. But it's worth pointing out that the e-commerce powerhouse is significantly expanding its presence in digital payments. It's not a huge part of the business now, but it's poised for continued growth. Here's how Amazon has been building out a payments ecosystem: It introduced an easy and secure way for consumers to make online payments and merchants' to accept them with Amazon Pay. Users can now make frictionless and secure payments on participating merchants websites by using a one-click checkout, which leverages the payment information the user has saved on his Amazon account. Users can now make frictionless and secure payments on participating merchants websites by using a one-click checkout, which leverages the payment information the user has saved on his Amazon account. The e-commerce giant further built out this capability by allowing consumers to make convenient payments in-store via Amazon Pay Places. This new feature is allowing users to order ahead and pay for goods in-store via the Amazon app. TGI Fridays will be the first merchant to accept the payment option, but this will likely be rolled out extensively. Although this is very similar to other mobile wallet offerings, it is still another step by Amazon to begin squeezing out traditional payment players by building consumer habits around using the Amazon app for purchases. This new feature is allowing users to order ahead and pay for goods in-store via the Amazon app. TGI Fridays will be the first merchant to accept the payment option, but this will likely be rolled out extensively. Although this is very similar to other mobile wallet offerings, it is still another step by Amazon to begin squeezing out traditional payment players by building consumer habits around using the Amazon app for purchases. Consumers then have the opportunity to add cash to their Amazon accounts and the ability to earn rewards, essentially giving these users a banking account. Amazon introduced a service that enables customers to add cash to their Amazon accounts at select brick-and-mortar stores, which is very similar to depositing cash at a bank. This was followed by a new rewards program in the US that gave Prime members 2% cash back when they load money into their Amazon Balance via a debit card or attached bank account. By giving these users incentive to easily add funds to their accounts, Amazon could find more consumers willing to spend online and in-store via Amazon's payment offerings. This would allow Amazon to earn on these transactions, similar to PayPal, which charges merchants fees as high as 2.9%. Amazon introduced a service that enables customers to add cash to their Amazon accounts at select brick-and-mortar stores, which is very similar to depositing cash at a bank. This was followed by a new rewards program in the US that gave Prime members 2% cash back when they load money into their Amazon Balance via a debit card or attached bank account. By giving these users incentive to easily add funds to their accounts, Amazon could find more consumers willing to spend online and in-store via Amazon's payment offerings. This would allow Amazon to earn on these transactions, similar to PayPal, which Amazon also offers traditional banking services, such as loans, which are becoming increasingly popular. The firm paid out over $1 billion in small loans in the last year alone — for context, from 2011 to 2015 this service was used to lend $1.5 billion. Here's why competitors should take notice. Amazon has the reach. The company has a massive user base — the Amazon app is installed on three out of 4 smartphones in America, the company's subscription based loyalty program, Amazon Prime, had an estimated 80 million members i n the US alone, and Amazon Pay has over 33 million users. The company has a massive user base the Amazon app is installed on three out of 4 smartphones in America, the company's subscription based loyalty program, Amazon Prime, had an estimated 80 million members i It has the capital. Amazon not only accounts for a massive amount of sales — i n Q2 2017, it expects sales to grow 16-24% YoY to between $35 billion and $37 billion — but it has also shown a willingness to make big bets on future growth opportunities that aren't always obvious. Its recent Amazon not only accounts for a massive amount of sales i It has the infrastructure in place to build out a payments network quickly. Amazon Web Services (AWS), the company's cloud solution, has the capacity to handle the processing of payments if it were to push further into the space. As of Q1 2017, AWS controlled 33% of the global public cloud market, more than Microsoft, Google, IBM, Alibaba, and Oracle combined, according to the most recent figures from Synergy Research. BI Intelligence, Business Insider's premium research service, has compiled a detailed report on retailer mobile wallets that: Explains what hurdles universal mobile wallets have faced. Details what features retailers have adopted into their mobile wallets that have been successful Analyzes the use cases of retailers that have successfully leveraged their mobile wallet offerings to push growth. Identifies how universal mobile wallets will eventually slow growth for retailer-based mobile wallets. To get the full report, subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and more than 250 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> Learn More Now You can also purchase and download the full report from our research store.

Cities and the circular economy- Yorkon case study

Yorkon is one of the UK’s leading modular building manufacturers whose buildings do just that. This off-site manufacturer pieces together the final building in situ. In itself, this can be a money and time-saver, as there is less disruption than would be the case for an on-site build. Noise and air pollution are also minimised due to the speed of installation (new construction techniques, such as 3D printing and off-site prefabrication, can reduce construction time by 50-70%).

https://www.ellenmacarthurfoundation.org/explore/cities-and-the-circular-economy

The Ellen MacArthur Foundation works to accelerate the transition to a circular economy. We develop and promote the idea of a circular economy, and work with business, academia, policymakers, and institutions to mobilise systems solutions at scale, globally. Charity Registration No.: 1130306 OSCR Registration No.: SC043120 Company No.: 6897785 Ellen MacArthur Foundation ANBI RSIN nummer: 8257 45 925

Electric skateboards can be 'mated' to assist development of EVs

The emergence of modular, electric rolling chassis that can be “mated” with devices for specific purposes could help bring about a boom in the EV sector for companies with limited expertise or resources to build full vehicles, The Urban Mobility Daily reported. Start-ups, including Australia's AEV Robotics and Israel's REE Auto, have introduced electric skateboard designs over the past year, which can be fitted with different configurations to meet industry requirements. The firms, along with Rivian and Canoo, offer bespoke models built from the ground up from modular platforms and can provide vehicles to non-traditional EV makers and large fleets.

https://urbanmobilitydaily.com/electric-skateboards-a-faster-way-to-bring-evs-to-market/

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TalkTalk Lockdown allows Zzoomm to accelerate works in Henley

Zzoomm has begun installing high-speed internet cables in the centre of Henley after Oxfordshire County Council allowed the company to use the UK's Covid-19 lockdown to carry out the work. Zzoomm said teams were adhering to all necessary hygiene precautions and the work, which is two weeks ahead of schedule, should be finished by mid-July.

https://www.henleystandard.co.uk/news/henley-on-thames/151348/roadworks-brought-forward-while-shops-are-closed.html

THE installation of new high-speed internet cables in the centre of Henley has been brought forward while shops are shut due to the coronavirus outbreak. Zzoomm’s contractors were set to dig up Duke Street and the southern half of Bell Street from May 11 to 29 as the company rolls out its network across the town. When this was announced two months ago, businesses complained that road closures would hurt their trade at one of the busiest times of year. The firm promised it would work quickly and keep pedestrian access open and also shortened the closure period, which was originally going to run until June 8. But it wasn’t allowed to bring it forward because Oxfordshire County Council, the highways authority, requires utility firms to give 12 weeks’ notice of road closures. Now, however, the council has granted permission because most shops are shut as they are “non-essential” businesses. On Monday last week, the workmen fenced off Duke Street with pink plastic barriers and dug a channel down the centre of the road to lay cable from a reel. They have put up signs at all sites explaining that their teams are classed as key workers by the Government so can continue working and are following hygiene precautions, including disinfecting their equipment. The company says the entire roll-out is at least two weeks ahead of schedule so should be completed by the middle of July. A spokesman said: “As always, the citizens of Henley are the main priority for Zzoomm.” Meanwile, a shopkeeper says her life was made a misery by the work being carried out in her street. Joan Bland owns Asquiths Teddy Bear Shop on the corner of New Street and Bell Street and lives above with her husband, Ian Wainwright. She said the building was made to shake when the Zzoomm workmen dug up the pavement and the inside of the building was covered in dust. Mrs Bland, a former town councillor, is asthmatic and both she and Mr Wainwright are in their seventies and isolating. She said: “We were seriously suffering from the works. They were using all this heavy machinery and it was just horrific. It was causing the building to shake. “When I heard they would be doing work here, I didn’t think it would be this horror show. The road was closed so we had no deliveries of food either.” Due to the lockdown measures the couple were unable to go outside and raise their concerns with the workers. Mrs Bland, who uses an inhaler, added: “I was in a back bedroom upstairs and could hardly breathe because of the dust. Dust was getting into every orifice of the building, even with the windows shut. We don’t have double glazing because of it being a listed building so the dust was coming through all the gaps. The whole building was full of it.” Asquiths has been closed since the Government ordered all non-essential business to stop trading. All the bears, apart for a small selection displayed in the window, were put into bags to protect them. A Zzoomm spokesman said: “We do know there have been instances of dust, noise and some shaking caused by the groundworks. “With listed buildings such as these, we do take extra care and in some instances, dig by hand to limit the impact of the work on the foundations. “Our teams are trained to minimise impact and take all safety precautions to complete this build as fast as possible and with as little impact as possible. “Our team also meets with residents and retailers frequently to reassess our plans and adapt how we develop this network, taking individual circumstances into account. With the current dry weather and the type of road work required, there will be some dust and noise created. “We do apologise for the inconvenience caused to the retail owner. We have now completed the one-way section of Bell Street and have moved on to the two-way section. This will mean that there will be no further impact on Asquiths and other retail outlets once this period of disruption has finished.”

Backlash against China's globalisation growth may hit trade and investment

Previously dependent on exports to fuel economic growth, China’s current account surplus has fallen to between 2 and 3% of the country’s GDP in recent years from 10% in 2007. Experts have thus called China’s foreign exchange reserves portfolio, currently valued at over $3tn, signatory of the country's future economic benefits from globalisation to lie within overseas investments.

http://www.brinknews.com/asia/backlash-from-globalization-hurts-china-global-growth/

Professor of Economics and Director of the Griffith APEC Study Centre at Griffith University Photo: Greg Baker/AFP/Getty Images Globalization has contributed to the growth of China for decades, but the rise of protectionism in Western economies could curb Chinese trade and investment. Because of the demise of manufacturing industries in the United States, the U.S. is unable to compete against low-priced Chinese imports. This has led to retaliatory action, most notably on steel imports. The European Union has reacted similarly. In Australia there has also been strong opposition to the China-Australia Free Trade Agreement, particularly by unions concerned that Chinese companies investing in Australia would bring workers from China. Sentiment also runs strongly against Chinese foreign investment in agricultural land and infrastructure. If the backlash against globalization intensifies overly-restrictive trade and investment measures, there will be serious implications for future world growth. China Was a Big Beneficiary of Globalization No other sizeable economy in history has ever experienced three unbroken decades of near-10 percent average economic growth as China did during the recent globalization era, the legacy of economic reforms begun by leader Deng Xiaoping. This growth in aggregate output was on average over three times greater per annum than its Western trading partners. The key factors underpinning this growth are: encouragement of foreign direct investment, specifically in manufacturing; greater internal labour mobility; higher domestic saving due to contraction of social welfare entitlements previously extended by the state sector; and an improved investment climate for the private sector with less corruption. Simultaneously, China’s remarkable integration into the world economy was due to its international merchandise trade expanding at an annual average of 15 percent during the globalization era from the early 1980s to 2008. That was more than double the global rate. After China joined the World Trade Organization (WTO) in 2001, the liberalization of international trade barriers significantly boosted its international merchandise trade. Policies that encouraged foreign direct investment also greatly assisted exports by having multinational firms (such as Motorola, Toshiba, Nokia and LG) operating in coastal China. Export-led growth had been crucial to China’s development strategy before the global financial crisis, and a tightly managed exchange rate system was instrumental to its success. China’s export growth has persistently outpaced its import growth, giving rise to trade and current account surpluses. China’s embrace of globalization made it a highly open economy relative to most advanced economies in the world. China’s embrace of globalization made it a highly open economy relative to most advanced economies in the world. As a proportion of GDP, its total exports plus imports of goods and services remain well above comparable ratios for the U.S., Japan and Germany. In China’s development strategy, large trade surpluses were viewed as an objective of economic policy. Since the global financial crisis, China has adopted a policy of re-balancing its economy away from dependence on exports and investment as the primary sources of aggregate expenditure growth and toward domestic consumption and services provision. This will have profound international implications generating spillovers for trade and commodity prices. Curbing export growth will reduce China’s vulnerability to the backlash against globalization. More Foreign Investment, Less Trade Growth? Due to a slowdown in China’s growth and trade, its current account surplus, mainly reflecting its trade surplus, has fallen from a high of 10 percent of GDP in 2007 to around 2-3 percent in recent years. However China’s central bank, the People’s Bank of China, has accumulated huge foreign exchange reserves over the past decade of over $3 trillion. These reserve holdings are the highest of any economy in the world and over twice the value of Australia’s annual GDP. China’s foreign money holdings are now also managed by its sovereign wealth fund, China Investment Corporation, which has amassed a portfolio of high yielding assets worldwide. This huge arsenal of funds suggests China’s future gains from globalization will depend more on investing overseas. Because of this, China’s foreign investment abroad will play a larger role than in previous years. World merchandise trade grew at under 3 percent in 2015 , according to the WTO, in line with world GDP growth. This is a major slowdown relative to the peak globalization period between 1990 and 2008 when world trade growth grew twice the speed of GDP growth. Despite China’s economy growing at its slowest rate in 25 years, well below the phenomenal rates experienced before the global financial crisis, its growth remains robust by any standard—it increased its GDP last year by the size of Sweden’s GDP. Give and Take There is a two-way relationship between growth in China and its trading partners in the rest of the world. The global slowdown reduces demand for China’s exports and lowers China’s growth which, in turn, reduces China’s demand for imports—especially commodities, lowering GDP in the rest of the world. A key reason The Great Depression of the 1930s was so prolonged was that many countries, following the enactment of the Smoot-Hawley Tariff Act in the U.S., became highly protectionist, which severely contracted world trade. Luckily, so far, we have not seen a repeat of that 1930s experience. Yet if the globalization backlash results in ever increasing anti-free international trade and investment measures, it remains a clear and present danger to future living standards. This piece first appeared on The Conversation.

Channel 4 to roll out interactive ads to Amazon Fire TV Stick

Channel 4 will offer interactive ads on Amazon Fire TV Stick and other platforms this year after making them available on Roku last year. The channel has 14 variations of interactive ads on its on-demand platform, All 4, but so far only on desktop or mobile. Examples of interactivity include targeted endings, such as a promotion for barbecues during hot weather and details of the nearest dealer for car ads, with viewers able to click on ads. All 4 has 17 million registered users, who are increasingly watching it on mobiles and connected TVs rather than on desktop computers.

https://digiday.com/media/channel-4-adapting-interactive-ads-tv/?utm_medium=email&utm_campaign=digidaydis&utm_source=uk&utm_content=180326

Channel 4 — best known these days for its exposé of Cambridge Analytica’s shady inner workings — has also been on the forefront of interactive ads, having served them on its on-demand platform, All 4, since 2011. But as viewing shifts from desktop to the connected TV, its interactive ads are changing. Channel 4 has 14 variations of interactive ad products that can be personalized based on data from registered users, like age, location, name and gender. Since last April, the broadcaster has run seven ad campaigns featuring personalized audio for brands like 20th Century Fox for the film “Alien: Covenant,” yogurt brand Onken and do-it-yourself brand Ronseal. For “Alien: Covenant,” 2 percent of viewers clicked on the ad to either see an extended trailer or to book tickets, double the interaction rate of its interactive ads without personalized audio, according to the broadcaster. All 4 has 17 million registered users, and over time, its viewing has shifted from desktop to mobile and connected TVs. Sixty percent of viewing happens through connected TVs, set-top boxes or game consoles, according to the broadcaster. Mostly, interactive ads can only be served on desktop and mobile, which accounts for 40 percent of All 4’s inventory. Buyers say this restriction hasn’t deterred brands, and campaigns can get enough scale. All 4’s interactive ads became available on Roku in 2017, which accounts for 7 percent of All 4’s viewing, and will roll out on other providers like Amazon Fire TV Stick this year. David Amodio, Channel 4’s digital and creative leader, said adapting the creative, such as changing the end frame to promote barbecues for a supermarket ad during hot weather or showing the nearest car dealership for auto brands, is the biggest opportunity for interactive ads on TV. He said it’s also important to surface more content, like prompting viewers to click to watch an extended version of a trailer, and keep the navigation simple. “The level of interactivity is very different on the big screen,” said Amodio. “You need to respect the audience for [personalized audio ads] to keep their effectiveness. The key for keeping the format special is to keep it premium and not [make] it seem like wallpaper.” With any kind of personalized campaign, brands also must avoid seeming too intrusive. According to the broadcaster, 5 percent of its viewers opt out of its personalized ads. “Interactivity toes a fine line between being intrusive and relevant,” said Mihir Haria-Shah, broadcast account director at Total Media. “The big screen has massive potential creatively because it’s not too intrusive.” While interactivity on TV screens has scale and technical limitations, Stefan Jansen, video director at Mindshare, sees the potential for interactive ads beyond the more niche applications. “When you factor in voice, connected homes and commerce, there are many interesting possible ways to engage with interactive ads,” he said. “Clients are excited.”

Warhol at the Whitney: From Myth to Man Image (not abstracted)

ARTICLE FROM NEW YORK TIMES BELOW “Warhol was a myth when he was alive, and he’s even more of a myth now,” said Donna De Salvo, deputy director and senior curator at the Whitney Museum of American Art. “To humanize Warhol and get people to actually look at what he made is not as easy as it might sound.” Now Ms. De Salvo is tackling that challenge in “Andy Warhol — From A to B and Back Again,” the first Warhol retrospective organized by a United States museum since 1989, opening on Nov. 12. An earlier show, at the Museum of Modern Art, came two years after Warhol’s death, at 58, and focused on his most famous Pop images of celebrities and disaster scenes from the 1960s.   Image Warhol’s huge “Mao” (1972). The Whitney show will include some of his most famous and controversial portraits.Credit2018 The Andy Warhol Foundation for the Visual Arts, Inc., via Artists Rights Society (ARS) New York Ms. De Salvo, discussing details of the show for the first time, said she aims to place these well-known silk-screens on a continuum with the overtly homosexual content of his little-seen work from the 1950s and the more abstract experimentation in his less widely acclaimed paintings from the 1980s.   ADVERTISEMENT Influenced by his early work as a commercial illustrator for the I. Miller shoe company, Warhol made gold-leaf shoe collages, including a pair in 1956 with pointedly mismatched buckles for the transgender celebrity Christine Jorgensen. He drew penises with bows on them and caricatures of men playing dress-up, and he painted a canvas of boys kissing, which his college friend, the artist Philip Pearlstein, submitted for exhibition to the coveted Tanager gallery only to have it laughed at. The 1950s gallery, Ms. De Salvo said, “is about Warhol before Warhol, this working class son of immigrants, a gay Catholic boy from Pittsburgh who comes to New York for his first job in 1949.” Ms. De Salvo got to know Warhol while she was working on an exhibition of his early hand-painted images when she was a young curator at the Dia Art Foundation in the mid-1980s. “I found there was something actually very earnest about him,” she said.   Image Andy Warhol’s “Rorschach,” 1984, was an example of his later move toward abstraction, said Donna De Salvo, the show’s curator.Credit2018 The Andy Warhol Foundation for the Visual Arts, Inc., via Artists Rights Society (ARS) New York For another show she organized at the Grey Art Gallery shortly after his death, “Success Is a Job in New York,” she interviewed his former fashion colleagues who said they admired Warhol’s “flamboyance” back in the 1950s, at a time when artists like Jasper Johns and Robert Rauschenberg were closeted. Because the gay content of his work was rejected by the art establishment, “he obscures it,” Ms. De Salvo said. But embedded in his choice of subjects during the 1960s, she said, “is this duality.” Marlon Brando appears as both a female heartthrob and a gay icon. Marilyn Monroe “could be a drag queen in the way he articulates it.” On the facade of the New York State Pavilion in the 1964 World’s Fair, Warhol presented portraits based on F.B.I. criminal mug shots with the double entendre title “Most Wanted Men.” ADVERTISEMENT “His insertion into a highly public space of something that had this very homoerotic aspect is a pretty radical gesture,” Ms. De Salvo said.   Image Warhol’s silkscreened “Marilyn Diptych” (1962). Ms. De Salvo said his Marilyn “could be a drag queen in the way he articulates it.”Credit2018 The Andy Warhol Foundation for the Visual Arts, Inc./Artists Rights Society (ARS) New York Deliberate ambiguity was more persistent in his late work, including his shadow paintings sprinkled with diamond dust, his Rorschach test images, and one of his last canvases layering the military camouflage pattern over a silk-screen of Leonardo da Vinci’s “The Last Supper.” “He was moving into a whole new terrain,” Ms. De Salvo said. Largely out of fashion by the ‘80s, Warhol became re-energized by collaborations with younger artists, including Jean-Michel Basquiat. On view will be their painting “Paramount” (1984-85), a coded reference to Warhol’s boyfriend at the time, Jon Gould, who was a vice-president at Paramount Pictures and who later died of AIDS. “The context of the AIDS epidemic is not often discussed with Warhol,” Ms. De Salvo said, noting that Warhol never gave up his Catholicism and was terrified of dying as he witnessed the loss of friends and lovers. Presented both in the Whitney theater and in the fifth floor galleries will be a large selection of Warhol’s films. These include a domestic view of the artist’s boyfriend John Giorno washing dishes (in the nude) and Warhol at the factory painting a Mao canvas. For people to see Warhol actually putting a brush to canvas, Ms. De Salvo said, “challenges a perception of the guy as a machine, the guy with the funny wig.”

https://www.nytimes.com/2018/06/19/arts/design/warhol-at-the-whitney-from-myth-to-man.html

“Warhol was a myth when he was alive, and he’s even more of a myth now,” said Donna De Salvo, deputy director and senior curator at the Whitney Museum of American Art. “To humanize Warhol and get people to actually look at what he made is not as easy as it might sound.” Now Ms. De Salvo is tackling that challenge in “Andy Warhol — From A to B and Back Again,” the first Warhol retrospective organized by a United States museum since 1989, opening on Nov. 12. An earlier show, at the Museum of Modern Art, came two years after Warhol’s death, at 58, and focused on his most famous Pop images of celebrities and disaster scenes from the 1960s.

Tremor International Tremor warns H1 revenues 27-29% lower due to Covid-19

Tremor International has forecast H1 2020 revenues of between $131m and $135m, which would be 27% to 29% below expectations, with an adjusted underlying loss of between $3m and $6m. Tremor cited the severe impact of the Covid-19 pandemic across the retail, travel, automotive and hospitality sectors, but said an uptick in e-commerce and pharmaceuticals had cushioned the blow.

https://www.sharecast.com/news/aim-bulletin/tremor-international-severely-impacted-by-covid-19--7545158.html

Advertising company Tremor International said on Thursday trading had been "severely impacted" by the Covid-19 outbreak, with clients cutting advertising budgets across all platforms. While Tremor said it had made a solid start to 2020 at the time of its full-year results in March, the group stated it now appears that it was "too early" in the outbreak of Covid-19 to have fully assessed the pandemic's impact on its overall outlook. The AIM-listed group said this was particularly evident in the travel, hospitality, automotive and retail sectors, which have experienced significantly reduced demand since mid-March 2020. However, Tremor said increased demand in certain industries such as online services, e-commerce and pharmaceuticals had mitigated "some" of the decline. First-half revenues were now expected to be between $131-135m, 27-29% lower than expected, and said it also anticipates an adjusted underlying loss $3-6m for the half. Although trading volumes in April were "significantly lower" year-on-year, Tremor did note a recovery began in May - with significant further improvement evident during June. As of 1050 BST, Tremor shares were down 1.37% at 144.0p.

US frozen food sales remain strong as country emerges from lockdown

Grocery sales in the US fell 1.6% in June as the country began to emerge from lockdown expanding the range of options available to consumers. Spend was up 11.7% YoY, with frozen food sales (excluding poultry) up nearly 21% YoY in the week ending 28 June , according to 210 Analytics and IRI data.

https://www.grocerydive.com/news/grocery-sales-decline-in-june-as-retail-and-restaurant-options-expand/581823/

Dive Brief: Sales in the grocery industry fell 1.6% in June compared to the month prior as consumers became less reliant on grocers for meals and home goods, according to estimated data released Thursday by the U.S. Census Bureau. The sector declined even as overall retail sales notched a 7.5% increase for the month. Grocery spending remained elevated on a year-over-year basis in June, with the industry posting a sales gain of 11.7% over June 2019 as consumers remained heavily reliant on supermarkets amid the COVID-19 pandemic. Sales of frozen food were especially strong as June came to a close. Excluding poultry, sales in the frozen category were up nearly 21% during the week that ended June 28 compared with the same period in 2019, according to data provided by 210 Analytics and IRI. The increase marked the 16th straight week that frozen food sales have posted a double-digit sales gain. Dive Insight: Grocery sales have been soaring during the pandemic, but the rate of increase is down considerably from their peak in March, when the coronavirus outbreak upended shopping habits and supermarkets were thrust into the spotlight. The industry was a lone bright spot that month, rocketing ahead even as retail sales fell sharply across the board. While monthly spending on groceries was off in June, virtually every other retail sector saw sales increase during the month, a reflection of the widening options consumers had as jurisdictions across the country let businesses resume operating. Clothing stores led the way, with sales more than doubling last month even as they remained down over May 2019 by nearly a quarter. Electronics, appliance and furniture retailers also recorded stellar sales gains in June. Notably, restaurant sales rose 20% in June compared with May, indicating that as people are able to eat out again, they can be expected to spend less at supermarkets. With authorities in states like California, Florida and Texas reimposing restrictions on restaurants as COVID-19 cases head back up, grocers could again see sales rise as people increase their dependence on supermarkets. Grocers are still enjoying sales that are not only outpacing the levels they saw last year but also substantially outpacing the retail portion of the economy as a whole. Grocery spending was up 11.7% in June compared with June 2019, while overall retail spending eked out a gain of just 1.1% over that same time frame. Sales data and insights from 210 Analytics and IRI suggest that as they look ahead, grocers should focus on items that broaden horizons for shoppers no longer interested in loading up on pantry staples. “IRI’s weekly survey found that consumers, who were initially preparing more from-scratch meals, are running out of meal ideas and craving variety and convenience,” Anne-Marie Roerink, president of 210 Analytics, wrote in a research note. “Pre-pandemic, it was exactly this meal fatigue that drove consumers to eat out."

Outbreak of bacterial infection spread by touching and kissing kills 14th person

A highly contagious bacterial infection which can spread through sneezing, touching or kissing has claimed its 14th victim. Almost 40 people in Essex have so far been affected by the Group A streptococcal (iGAS) outbreak, with 33 confirmed by authorities. The illness may produce no symptoms, but can create conditions ranging from minor illnesses to deadly diseases. The Mid Essex Clinical Commissioning Group said that after investigations it had retrospectively decided that 14 people had died since the outbreak. The disease may be caused by bacteria entering parts of the body where it is not normally found.

https://metro.co.uk/2019/09/10/outbreak-bacterial-infection-spread-touching-kissing-kills-14th-person-10720346/

The infection is spread through kissing and touching (Picture: Getty) A 14th person has died after catching highly contagious bacterial infection Strep A which has infected 37 people across Essex. Of that group, 33 have been confirmed to have been affected from this outbreak and the four others are probable cases. Group A strep can cause infections, ranging from minor illnesses to very serious diseases and can be found in the throat and on the skin, with many having no symptoms of illness. It is spread between people through ‘contact or by droplets from the respiratory tract’ – so by sneezing, kissing and skin contact. The outbreak in Essex of invasive Group A streptococcal – known as iGAS – occurs when the bacteria gets into sterile areas of the body where it is not usually found – such as the blood stream, muscle or lungs. Mid Essex Clinical Commissioning Group (CCG) is investigating the outbreak after it was first discovered in June in Braintree, Essex. It said in a statement: ‘Following regular communications with the patients and their families affected by this outbreak, we have been informed that a patient in mid Essex who had previously been treated for iGAS earlier in the year has sadly died. ‘Our thoughts are with their family. 14 people have died since the outbreak (Picture: Getty) ‘We are reporting this retrospectively having completed investigations to conclude that their death is linked to this outbreak. ‘To protect patient confidentiality we are unable to confirm when they had iGAS or when they passed away’. Additional cases of iGAS have also been found around Chelmsford and Maldon in Essex. Mid Essex CCG say they are leading an incident management team to control and prevent the spreading of the infection. Got a story for Metro.co.uk? Get in touch with our news team by emailing us at [email protected]. For more stories like this, check our news page.

UK government cuts stake in Lloyds to below 7%

The UK government has cut its stake in Lloyds to 6.93% recovering a total of £17.5bn of the £20.3bn amount given to the bank to bail it out with taxpayer money. At its peak, the government’s stake in the bank was 43%. The Treasury has been selling the stake in stages from 9.2%, with the aim of selling all the shares within a year and putting the resulting funds towards the reduction of national debt. The shares are being sold at lower than the 73.6p average that was paid during the financial crisis, with the current shares trading at slightly above 61p.

https://www.theguardian.com/business/2016/dec/13/government-lloyds-share-sale-bank

The British government has cut its stake in Lloyds Banking Group to below 7%, raising the amount recovered to more than £17.5bn of the £20.3bn of taxpayers’ money used to bail out the bank during the financial crisis. The sale of a further 1% of Lloyds shares on Tuesday reduced the government’s stake to 6.93%, from a peak of 43%. Simon Kirby, the economic secretary to the Treasury, said: “Selling our shares in Lloyds Banking Group and making sure that we get back all the cash taxpayers injected into it during the financial crisis is a key government priority. So I am pleased that we have continued to reduce our stake in Lloyds.” The chancellor, Philip Hammond, announced in October that he was abandoning his predecessor’s plans to sell the remainder of the Lloyds stake to members of the public at a discounted rate. Since then, the Treasury has been selling its remaining shares on the stock market, reducing its stake in stages from 9.2% to 6.9%. The aim is to have sold all its shares within a year, with the proceeds being used to reduce national debt. The current sales are taking place at a price lower than the 73.6p average price paid for the stake during the crisis, but Hammond has said he expects to recoup the full amount injected into the bank. Lloyds shares are trading at just above 61p. A spokesperson for Lloyds said: “Today’s announcement shows the further progress made in returning Lloyds Banking Group to full private ownership and enabling the taxpayer to get their money back. “This reflects the hard work undertaken over the last five years to transform the group into a simple, low-risk and customer-focused bank that is committed to helping Britain prosper.” While the government is selling off its stake in Lloyds, it retains a 73% stake in Royal Bank of Scotland which it also bailed out during the financial crisis. Hammond said in October that the time was not right to sell its stake in the Edinburgh-based bank, in which a 5% stake was sold in August 2015 at a £1bn loss.

TalkTalk Scottish minister updates on fibre rollout plan

Scotland’s Minister for Connectivity Paul Wheelhouse has said the country will offer enhanced digital connectivity years ahead of the rest of the UK despite a delay to its completion target from 2021 to 2023. The £600m ($780m) R100 project to upgrade 180,000 premises still having to use a slower broadband connection has been delayed by a legal challenge against BT, which won the contract for the work, from rival Gigaclear. Wheelhouse said the delay was “disappointing” but that the Scottish government was launching a voucher scheme to offer help to customers affected by the delay.

https://www.ispreview.co.uk/index.php/2020/01/scotland-reveal-r100-full-fibre-broadband-rollout-plan-to-2023.html

Thursday, Jan 9th, 2020 (4:57 pm) - Score 9,576 The Scottish Government‘s Minister for Connectivity, Paul Wheelhouse, has today issued an update on the progress of their much delayed £600m R100 (Reaching 100%) project, which confirms how many premises will benefit in each area and what technologies will be used. Sadly the rollout will complete in 2023, rather than 2021. Just as a quick recap. The R100 project was established as a follow-on contract to help upgrade around 180,000 premises that were still stuck on slower broadband services, largely as a result of being missed by the original £442m Digital Scotland (DSSB) project with BT (Openreach). Overall the above represents around 5% of premises in Scotland who cannot yet order a 30Mbps+ capable “superfast broadband” ISP network and the ambition was to do “as many premises as possible” by the end of 2021 (originally they suggested it may be possible to cover every property by 2021 but that always seemed unrealistic). Back in October 2019 it was announced that BT had won the contracts for both LOT 2 (Central Scotland) and LOT 3 (South Scotland), which was due in no small part to them being the only bidder (here). The award of LOT 1 (North Scotland) took longer (here), partly because several suppliers were involved in the bidding (BT, Axione UK and Gigaclear) and additional requirements came attached, although BT was again the preferred bidder. The project, which at this point was already running a year behind schedule, then suffered another blow after Gigaclear lodged an unspecified legal challenge against the LOT 1 award (here). As such today’s update only covers LOT 2 and 3 until the legal case can be resolved. NOTE: LOT 1 is also the biggest one (valued c.£384m) and reflects about 100,000 premises in the Highlands and Islands, Angus, Aberdeen and Dundee. It also specified 9 mandated areas where 25% of premises must be able to get speeds of at least 100Mbps (on a Gigabit-capable connection). The R100 Rollout Plan * Some £83m of investment will go toward LOT 2 (Central), while £133m will go toward LOT 3 (South). * In LOT 3 some 99% of the 26,000 eligible premises will be reached by the roll-out (only c.200 premises have been missed off). As expected “all” of this build will be via “full fibre” (FTTP). * In LOT 2, of the eligible 55,000 premises, the contract they have signed with BT – alongside greater than anticipated commercial build – will reach at least 47,000 premises or almost 87% of them. The remainder will require to be connected by alternative means. As expected the “vast majority” of R100 build in central Scotland will use “full fibre” (FTTP) * Engineers will reach around half of the target premises in both lots – approximately 23,000 in Central and 12,000 in the South – by the end of 2021, with the majority of the build completed by the end of 2023. “Presiding Officer, I acknowledge that this, on its own, would be insufficient to enable superfast access for all homes and businesses by the end of 2021 as promised.” * Premises that are beyond the reach of R100 will benefit from a new voucher scheme (set to launch “later” in 2020), which is not a surprise but the next bit is more interesting. “I can further advise that anyone who will not be able to access superfast broadband through the R100 programme by the end of 2021 – even if R100 will ultimately reach them – will also be eligible for that voucher scheme.” This will be open to both homes and businesses. The voucher scheme will also allow people to obtain superfast broadband (30Mbps+) from other sources, from satellite operators to fixed wireless/mobile operators and larger fibre suppliers, “ensuring superfast access for all premises in the agreed timescale” (NOTE: It will only “ensure” that if all of those eligible were to actually take one and that doesn’t usually happen). Premises in LOT 1 will also be able to access the voucher scheme. Sadly no further details on the eligibility criteria or voucher values were released. We assume LOT 1 will also be similarly dominated by FTTP and likewise would take longer than expected. Otherwise we note that Openreach is currently updating its own modelling to reflect the aforementioned changes. “Once this is completed and detailed survey work has been undertaken, I will be able to share specific details of the roll-out plans down to premises level.” Mr Wheelhouse said: “This roll-out means Scotland will have enhanced digital connectivity years ahead of the rest of the UK. R100 will ensure that Scotland is ahead of the curve, not just in the UK, but internationally. Through our investment, we will extend full-fibre broadband to much of rural Scotland, going beyond our original commitment, and helping to deliver future-proofed economic, social and environmental benefits for the whole country. This is one of the most challenging broadband infrastructure builds anywhere in the world, and this, combined with the decision to future-proof our technology, means the work will take time to complete. We are also setting up a voucher scheme which will launch later this year. This will provide grants to broadband customers, ahead of the delivery of the R100 contracts, to support access to a range of technologies and suppliers. It is disappointing not to be able to announce details of the contract for the North Lot due to a dispute over the awarding of the contract, but the Scottish Government is doing its utmost to ensure that people in the north of Scotland can access superfast broadband through the R100 programme as soon as possible, including through our voucher scheme.” A big question mark sadly still exists over how this will be balanced against the UK Government’s proposal to invest £5bn to ensure that every home can access a “gigabit-capable” broadband service by the end of 2025 (here). Naturally the Scottish Government has demanded their fair share, although it may be awhile longer before we know what the new framework looks like. Lest we forget that the Scottish Government’s Rural Economy Secretary, Fergus Ewing (MSP), previously pledged to quit if he failed to deliver on the new £600m R100 project (here). “If I don’t deliver this by 2021, I think it will be time for Fergus Ewing to depart and do something else, and leave the job,” said Fergus. The suggestion above seems to be that their voucher scheme might get around this but that seems unlikely, unless every eligible property magically takes it up and gets covered by 2021 (wishful thinking). On the whole though it looks like Scotland is on the right path, although some of the subsidy levels are certainly at the extreme end. Admittedly this shouldn’t come as much of a surprise since the LOTs aim to cover the most remote rural communities, where costs quickly spiral upwards. At the end of the day if you want to reach those areas then it won’t come cheap and Scotland has put down enough money to do it.

FCA Seeks Views On Implementing New Financial Market Regs

"Market competition is a good thing", according to Eric Jing, president of Chinese firm Ant Financial Services Group, who also said he thought "merchant fees in the US payments market are too high." Mr Jing's company Alipay, Ant Financial's online payments unit, does not use state-backed company Unionpay, which has a monopoly on bank cards in the country, when processing online transactions. Alipay has a 68% share of China's mobile payments market, and revenues last year were an estimated CNY139bn ($21bn).

https://www.law360.com/banking/articles/822935/fca-seeks-views-on-implementing-new-financial-market-regs

By William Shaw (July 29, 2016, 11:01 PM BST) -- The Financial Conduct Authority launched a wide-ranging consultation Friday on the implementation of the Markets in Financial Instruments Directive II in the U.K., sounding out the financial professionals who will fall under the measure's jurisdiction in January 2018.... Stay ahead of the curve In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. Access to case data within articles (numbers, filings, courts, nature of suit, and more.) Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc. Create custom alerts for specific article and case topics and so much more! TRY LAW360 FREE FOR SEVEN DAYS

Philippines tries again to build operational $2bn LNG project

The Philippines’ first liquefied natural gas (LNG) import facility could be on track again after Phoenix Partners said it was in talks about a “strategic alliance” with the Philippine National Oil Company (PNOC). The news came a few weeks after state-owned PNOC said it had abandoned plans to find a partner for the scheme to handle LNG because of the potential delay caused by the need to win Congress approval. Phoenix now says a Memorandum of Understanding could be signed with PNOC on the $2bn scheme soon.

https://oilprice.com/Energy/Natural-Gas/Try-And-Try-Again-Philippines-Resurrects-LNG-Ambitions.html

On Thursday, news broke (again) that the Philippines is trying to build its first operational liquefied natural gas (LNG) project. Manila-based Phoenix Petroleum said it was in talks with state-owned Philippine National Oil Company (PNOC) for a “strategic alliance” on its proposed $2 billion LNG hub. Phoenix said in a statement that a Memorandum of Understanding (MoU) could be signed with PNOC in the coming weeks. The company added that the alliance with PNOC could involve pipeline infrastructure, PNOC’s share of Malampaya gas, equity, and marketing opportunities. Philippine Energy Secretary Alfonso Cusi said that PNOC “was approached by some potential investors for a possible 10-15 percent participating interest” in an LNG project, but he gave no further details, Reuters reported. Cusi is also the board PNOC board chairman. “We just have to wait for further developments,” he added. Phoenix has already indicated that it plans to break ground sometime this year on a 2.2 million ton per annum (mtpa) LNG terminal in Batangas province, just south of Manila, the capital. Commercial operations have targeted to start by 2023. The facility will also include a 2,000-megawatt power plant component. The disclosure comes just a few weeks after PNOC said it had terminated its selection of a joint venture partner for its proposed LNG hub in the country, formally ending its bid to spearhead what could have been a state-led facility for the imported LNG. The problem, according to Cusi at the time, is that the proposed project could not be started immediately because PNOC had to do initial studies and prepare the budget that will be presented to Congress for approval. “I said, we’ve been in this for two years. I said, had that been started, if that had broken ground, maybe next month we’d be operating the first power plant. Until now we’re still in the drawing board,” he said. Related: A Big Week For Oil Bulls Resurrecting LNG ambitions Now, apparently, the situation has changed amid fresh talks between Phoenix, a retail fuel supplier, and PNOC. However, as I’ve reported several times before this could be just another rehashing of preliminary talks that lead to no tangible decision or agreement to put up the Philippines’ first LNG import terminal. The problem for the Philippines is that its offshore Malampaya natural gas field, operated by Shell, and the main source of natural gas for Luzon, the country’s main island and its most populated, including Manila with 20 plus million people, will run out in less than five years, according to Philippine DOE estimates. Unless the Philippines acts and acts soon, it will run out of gas and have to turn to dirtier-burning coal for power production to offset the loss of gas from Malampaya. The DOE, for its part, has long been pushing for the country to turn away from over-reliance on coal, but at the end of the day, the DOE has no statutory power to enforce its plans, it can merely advise. Even if the impending, not yet signed, MoU is reached between Phoenix and PNOC it’s a long shot for a project to be built due to the country’s history of governmental indecision, inefficiency, and corruption, while provincial politicians also often demand financial kickbacks to approve projects, even projects that have the backing of the power base in Manila. However, given the most optimistic scenario for the Philippines, if it can push through and have an operational LNG import terminal before 2024, it will find an LNG market in Asia still rife with ample supply, particularly from Australia, the U.S. and Qatar since the three producers will be jockeying for the slot of top LNG export leader. It’s also likely that most of the supply for the Philippines’ first LNG import terminal would rely heavily on procurement from the spot market in Asia, which offers liquidity and less restrictive terms that long-term off-take agreements. By Tim Daiss for Oilprice.com ADVERTISEMENT More Top Reads From Oilprice.com:

Young people in China increasingly splash out on their pets

Chinese pet owners are spending increasing amounts on their animals, according to a report. The study, conducted by pet forum goumin.com, found that the country's cat and dog market will grow by 27% year on year in 2018 to CNY170bn ($24bn), with owners projected to spend more than $700 per pet, up 15% compared with 2017. In addition to food, medical treatment and toys, customers are spending more on grooming services and training services, with younger people and white-collar workers now making up a rising percentage of pet owners in the country.

http://www.xinhuanet.com/english/2018-11/05/c_137583173.htm

Source: Xinhua| 2018-11-05 12:24:06|Editor: Shi Yinglun Video Player Close BEIJING, Nov. 5 (Xinhua) -- Wang Junyue, a 24-year-old girl from Beijing, spends a tenth of her salary on her furry family member, a seven-month-old cat, for cat food, daily necessaries, toys and grooming. Such expenditure is common among Chinese pet owners who spend big bucks on their pets, according to a pet industry report released by goumin.com, an online pet forum, in August. According to the report, Chinese pet owners in urban areas have reached 73.55 million, raising a total of 91.49 million dogs and cats, the majority of the pets. The country's dog and cat market is estimated to reach over 170 billion yuan (about 24 billion U.S. dollars) in 2018, up 27 percent year on year, the report said. It also revealed that Chinese dog and cat owners would spend over 5,000 yuan per pet in 2018, an increase of 15 percent from 2017. Most of the spending is on pet food, products and snacks, with dog food accounting for 36 percent and cat food for 44 percent, the report showed. Pet owners in first- and second-tiered cities are more willing to buy quality and expensive pet food, according to the report. Wang, who works in a Beijing-based foreign company, said she prefers imported cat food, which costs her around 300 yuan every month. Other expenses on pets include sterilization, grooming, vaccines, medical treatment and training. "My toy poodle's grooming is even more expensive than my haircuts. I have to pay 120 to 150 yuan each time," said Wei Ke, a kindergartener from Qingdao, east China's Shandong Province. Wei usually has her dog groomed twice a month during the summer, spending around 2,000 yuan a year on grooming alone. According to research by the China Agriculture University (CAU), the pet industry develops rapidly when a country's GDP per capita is about 3,000 to 5,000 dollars. China's GDP per capita has surpassed 8,000 dollars. CHANGING ATTITUDES TOWARD COMPANION ANIMALS The increasing expenditure is partly attributed to people's attitudes toward pets, as more and more people treat them like their family members. "It is natural to spend money on their 'family members,'" said Liu Bo, a CAU professor. "This trend not only meets people's demands for a better spiritual life but also reflects the social progress of the country," said Liu. Both Wang and Wei consider their pets family members. Wei said she would buy her dog everything that it liked. For Wang, raising a pet "feels like raising a child," bringing her both happiness and challenges. Most owners enjoy the bond between them and their pets as well as the pleasure brought by their pets. Meanwhile, pets play the role of a companion. Wei's grandmother owns a golden retriever. "She did not like it before, but now, she cannot live without it," Wei said. Besides the elders, more and more young people have started to raise pets in recent years. According to research by the consulting institute Zhiyan.org in May, over 70 percent of Chinese pet owners were born in the 1980s and 1990s. Noting that white-collar workers and students dominate the generations of 80s and 90s, Liu said pets help young people feel relief from life and work pressures and fill the gap in their social lives.

US grids to struggle with EVs without upgrades, smart charging

Electricity grids in some US cities could struggle to cope with an uptick in electric-vehicle (EV) adoption without upgrades and a switch to smart charging, according to a report by the US Department of Energy's Pacific Northwest National Laboratory (PNNL). It said grids could handle 24 million EVs on US roads, but warned of problems in some cities, potentially before 2028, when numbers could hit 30 million. The PNNL study also recommended encouraging off-peak charging and implementing grid-balancing measures.

https://www.greencarreports.com/news/1129091_study-without-smart-charging-and-upgrades-some-us-cities-might-feel-the-squeeze-from-evs

Electricity grids in some United States cities may require upgrades to handle increasing numbers of electric cars, according to a new study from the United States Department of Energy's Pacific Northwest National Laboratory (PNNL). "While we don't know exactly when the tipping point will happen, fleets of fast-charging vehicles are going to change how cities and utilities manage their electricity infrastructure," Michael Kintner-Meyer, a PNNL electrical systems engineer, said in a statement. "It's not a question of if, but when." The study, which factors in passenger cars, delivery vans, and long-haul trucks, found that current grid infrastructure can support 24 million EVs—about 9% of current light-duty vehicle traffic in the U.S.—through 2028. The grid could start to experience strain at 30 million EVs nationally, but some areas may begin to experience issues before that, according to the study. EVs' impact on the grid depends largely on when vehicles are charged, according to the study. One fast-charging EV can draw as much power as 50 homes, the study said. Large numbers of drivers charging their cars at home overnight could exacerbate the electricity-demand "Duck Curve," according to the study. The curve is based on moderate electricity demand in the morning, low demand during the day, and higher demand at night. Additional EV charging at night could cause too steep of a ramp-up in demand, the study said. Electricity demand Drastic changes in demand can cause problems for electricity-generating infrastructure, which can't be switched on and off instantaneously. Utilities are always looking to "balance" the grid by keeping demand and generating capacity in sync. Researchers recommend more charging during the day, when demand is generally lower, and EVs can take advantage of solar power. That has the added benefit of reducing their overall carbon emissions. The possibility of crashing the grid has been a persistent myth of electric cars, one debunked in previous studies. But Dennis Stiles, who oversees PNNL's energy efficiency and renewable energy research portfolio, noted that some cities are now planning for more fast-charging EVs by looking at "intelligent controls and other ways to modify their distribution systems and operations." A system of smart charging based on levels of demand could also encourage more EV drivers to charge during off-peak times. Startup Lightyear, meanwhile, has a more ambitious plan: to make EVs less dependent on the grid by adding solar panels. Lightyear has said its planned electric car, due in 2021, will "leapfrog the grid" by using a solar roof that can add up to 7.5 miles of range per hour. Some have also argued that a pivot in energy investment this year—corresponding to sharp changes in demand due to the coronavirus pandemic—is a good time to green the grid.

Australian gov to open gas to domestic market with $52.9m funding

Scott Morrison’s government plans to allocate AUD52.9m ($38.2m) from the October budget to unlock larger supplies of gas and improve transportation infrastructure, as part of Australia’s “gas-led recovery” to relieve the economic recession caused by the Covid-19 pandemic. Fugitive emissions from the growing liquified natural gas sector have resulted in rising greenhouse gas emissions, but the government has not explained how this will be reconciled with Paris Agreement commitments to shrink emissions, The Guardian reported. Consultations with the gas industry will be held to detect barriers and opportunities along the supply chain, according to the government.

https://www.theguardian.com/australia-news/2020/sep/15/government-to-use-529m-funding-to-unlock-more-gas-for-domestic-market

The Morrison government will use a looming negotiation with Australia’s LNG exporters to try and ensure sufficient supply is made available to the domestic market without having to impose a formal gas reservation policy – a scheme the industry would strenuously oppose. The prime minister, who has been championing a “gas-led recovery” from the economic shock caused by the coronavirus, will use a speech in Newcastle on Tuesday to point to new commitments in the October budget, including funding of $52.9m to unlock more supply of gas and boost transportation infrastructure. In a warm-up for substantial budget commitments, Morrison will hold open the option of taxpayer underwriting for priority gas projects, streamlining approvals, or creating special purpose vehicles for new investment. The prime minister will say the government intends to pursue 13 measures designed to establish an open and competitive hub model – an Australian version of the Henry Hub in the United States. The Louisiana distribution hub connects gas pipelines from across the US, and the pipeline is the pricing point for natural gas futures on the New York Mercantile Exchange. Morrison will flag further developing the Australian hub at Wallumbilla in Queensland. The Australian Energy Market Operator first implemented that hub in March 2014 as an exchange for the wholesale trading of natural gas. A single trading location was established in 2017. The government says it will develop a national gas infrastructure plan to lay out the requirements for the industry into the future. The government will hold consultations with the gas industry to identify gaps, barriers and opportunities across the supply chain. Morrison will on Tuesday commit funding of $28.3m to develop five strategic basin plans, beginning with the vast Beetaloo Basin in the Northern Territory, and followed by the North Bowen and Galilee Basin plans. As well as the basin plans, Morrison will flag his intention to set new gas supply targets with states and territories and enforce potential “use-it or lose-it” requirements on gas licenses. Morrison will also keep live the option of imposing a domestic gas reservation scheme. But the prime minister will telegraph the government’s intention to use the process of negotiating a new heads of agreement with the three east coast LNG exporters to strengthen current commitments on domestic supply and price. The current heads of agreement is due to expire later this year. The government is wary of massive pushback from the industry to a domestic gas reservation, and concerned about the risk of capital flight. The gas-led recovery has been championed by the government’s business advisers, including Nev Power, the former Fortescue executive who heads Morrison’s Covid coordination commission. A leaked report from the manufacturing taskforce attached to the commission headed by Andrew Liveris, a former Dow Chemical executive and current Saudi Aramco board member, recommended the government underwrite an increased national gas supply and that government agencies partner with companies to accelerate development of new fields such as Beetaloo Basin, and that states introduce subsidy schemes for gas-fired power plants. That report, revealed by Guardian Australia, also proposed a role for government in helping develop gas pipelines between eastern states and the north, and potentially a $6bn trans-Australian pipeline between the east and west, by either taking an equity position, minority share or underwriting investments. The government says any future pipeline investments would be based on evidence from the gas industry plan it intends to formulate. Environmentalists are increasingly concerned that the Coalition is preparing to lock in fossil fuels for several decades at a time when it could be championing a green recovery after the pandemic. Fugitive emissions from the booming LNG industry have led to increases in greenhouse gas emissions in Australia, and the Coalition has not telegraphed how it intends to address that problem given Australia’s commitments to reduce pollution under international climate agreements. As well as the pollution problem associated with any expansion of the industry, Australia’s biggest oil and gas companies, Woodside Petroleum and Santos, face ongoing pressure from shareholders concerned about the financial risk of these companies backing long-term investments if the world moves towards the Paris agreement goal of net zero emissions by mid-century. In a statement issued ahead of Tuesday’s speech, Morrison said the initiatives over the coming months were about “making Australia’s gas work for all Australians”. “Gas is a critical enabler of Australia’s economy,” Morrison said. “Our competitive advantage has always been based on affordable, reliable energy. “As we turn to our economic recovery from Covid-19, affordable gas will play a central role in re-establishing the strong economy we need for jobs growth, funding government services and opportunities for all.” Taking the cue from the government’s positive signalling, the gas industry is lobbying Canberra to adopt a range of changes in the budget, including making wages and salary costs tax deductible, creating a new investment allowance for the industry, extending roll-over relief from the capital gains tax, amending environmental regulations to streamline new development and remove the water trigger, and providing loan guarantees.

China's biggest bank deploys Reuters FX system as CNH trade grows

Industrial and Commercial Bank of China (ICBC) Singapore has adopted Thomson Reuters' Electronic Trading FX system, the first Chinese bank to do so. The platform enables ICBC to price CNH and other G10 currencies across Asia and recognises the growth of emerging market currencies particularly due to CNH internationalisation. Zhang Weiwu, General Manager of ICBC Singapore, said that Electronic Trading meets the company's treasury team needs for strong infrastructure support.

https://www.finextra.com/pressarticle/67148/icbc-singapore-adopts-thomson-reuters-electronic-trading

Source: Thomson Reuters Industrial and Commercial Bank of China Limited (ICBC) Singapore Branch has adopted Thomson Reuters FX e-commerce solution Electronic Trading to strengthen its presence in the foreign exchange market. ICBC is the first Chinese bank to adopt this next generation solution from Thomson Reuters. Electronic Trading provides efficient market making capabilities and allows ICBC to price CNH and other G10 currencies across Asia with various branches, interbank clients and corporate clients, thus strengthening ICBC’s strength and presence in the foreign exchange market. The importance of major emerging market currencies is growing, especially due to Renminbi’s internationalization. In today’s evolving FX markets, banks need flexible trading solutions that provide control over electronic pricing, distribution and hedging to meet the changing demands of their client base and improve efficiency. With Thomson Reuters Electronic Trading, banks across 60 countries globally benefit from a next-generation electronic FX trading platform. As part of the Thomson Reuters desktop trading platform, Electronic Trading offers a powerful suite of solutions to shape and automate FX prices. ICBC in Singapore is the official CNH clearing bank and full-licensed bank that has a strong business footprint in treasury, asset management, corporate banking and trade finance in Asia-Pacific markets and globally. ICBC has also been being ranked as the world’s largest bank by asset value. "As China's largest bank and the official CNH clearing bank of Singapore, ICBC Singapore is committed to offering a full range of integrated financial services in the CNH and other key currencies to our clients," said Mr Zhang Weiwu, General Manager of ICBC Singapore. "The electronic trading solution provided by Thomson Reuters meets our Treasury team's varied needs for strong infrastructure support." “With 25% of global FX trade taking place in Asia, ICBC’s decision to deploy Thomson Reuters Electronic Trading solution fully enables the bank’s FX market making capacity to both interbank and corporate clients and also streamlines risk management. We have a number of Chinese banks using our existing FX e-commerce solutions, and ICBC is the first to take advantage of our next generation technology,” said Alfred Lee, Managing Director, ASEAN, Financial and Risk, Thomson Reuters. “Considering the prominent theme of Renminbi internationalization, we look forward to collaborating with ICBC, a leading Chinese bank and market player, in the foreign exchange market. As a global independent source of trusted FX market insight and solutions, Thomson Reuters collaborates with multiple market participants to provide FX solutions that connect and empower the financial community in APAC and globally,” he added.

Israel will open up 1GW of solar quotas, following two-year hiatus

Israel's Public Utility Authority (PUA) is set to issue over 1GW of fresh solar tender to ensure the nation meets its goal of integrating 10% renewables into the overall power supply by 2020. Solar developers will compete for PV projects in six tender rounds held by the PUA. The competitive procedure is scheduled to commence January 2017 and is expected to last one year.

http://www.pv-tech.org/news/israeli-public-utility-authority-plans-1gw-solar-tender

Israel’s Public Utility Authority (PUA) has said that it will issue more than 1GW of fresh solar quotas after a two-year hiatus from any new solar development in an effort to boost renewables in the country. The new move is being authorised with Israel’s renewable energy target in mind to ensure the nation meets its goal of 10% renewables being integrated into the overall power supply by 2020, the PUA has said. According to a local report, solar developers will compete for tariff rates based on their own individual proposals rather than being assigned predetermined rates in the conventional way. According to the Jerusalem Post, this is intended to promote greater transparency in the feed-in tariff (FiT) process whilst minimising electricity costs Following the announcement, the PUA is to hold at least six tender rounds in which solar developers can compete for PV projects, at predetermined times. Categories up for bidding are low, high and extra-high voltage; with facilities being required to be completed in 18-36 months depending on the category. Overall, the competitive procedure is scheduled to last a year, commencing in January 2017. To be eligible, bidders will need to provide a guarantee of US$20/kW at the proposal stage and US$70/kW in the final winning stage, together with a feasibility study in the case of extra-high voltage projects. “[This] is great news for the energy sector in Israel and is expected to accelerate, in a short time, the volume of renewable energy produced from just 2% today to full compliance with the government’s objectives,” said PUA chairman Assaf Eilat in a statement. The news of the solar quota is an exciting development for Israel, paving the way for a cleaner and more economical energy future. The anticipated size of the tender is also of note, confirming solar as a competitive and mature energy option. It follows recently announced plans for a PPP tender for a 500MW solar facility.

First-half profit soars at Emirates

Emirates Airline’s first-half profit soared 282 percent compared to a year ago as it redeployed aircraft, cut costs and demand for its products boosted load factors and margins.The airline carried 29.6 million passengers in the six months to September 30 but managed to pack more of them into each flight,  boosting its passenger load factor by 2.3 points to 81.1 percent.Revenue fell 3 percent to $US13.3 billion as traffic, as measured in revenue passenger kilometres, dropped 2 percent and freight was hit by the tough business environment.The airline’s profit uptick contributed to an 8 percent increase in Emirates Group profit, which includes dnata, to $US320m.

https://www.airlineratings.com/news/first-half-profit-soars-emirates/

Emirates Airline’s first-half profit soared 282 percent compared to a year ago as it redeployed aircraft, cut costs and demand for its products boosted load factors and margins. Lower fuel costs and a 7 percent reduction in capacity also helped drive the $US235 million half-year profit. A 13 percent fall in fuel costs was due largely to a fall in oil prices as well as lower fuel uplift as a result of reduced capacity during a 45-day runway shutdown at the carrier’s Dubai hub. READ: Qatar and IndiGo plan further co-operation. Revenue fell 3 percent to $US13.3 billion as traffic, as measured in revenue passenger kilometres, dropped 2 percent and freight was hit by the tough business environment. The airline carried 29.6 million passengers in the six months to September 30 but managed to pack more of them into each flight, boosting its passenger load factor by 2.3 points to 81.1 percent. The airline’s profit uptick contributed to an 8 percent increase in Emirates Group profit, which includes dnata, to $US320m. A 2 percent fall in group revenue was attributed to the 45-day runway closure at Dubai as well as unfavorable currency movements in Europe, Australia, South Africa, India and Pakistan. Describing the first half-performance as “steady and positive”, Emirates chief executive Sheikh Ahmed bin Saeed Al Maktoum said the outlook was difficult to predict. However, he expected the airline and travel industry to continue facing headwinds over the next six months with stiff competition adding downward pressure on margins. “As a group, we remain focussed on developing our business, and we will continue to invest in new capabilities that empower our people, and enable us to offer even better products, services, and experiences for our customers,’’ he said. Emirates received three Airbus A380s in the first six months of 2019-20 and has three more new aircraft coming before the end of the financial year. It retired six aircraft and expects two more to leave before March 31. As of September 30, its fleet stood at 267 aircraft including freighters. It added two routes —Dubai-Bangkok-Phnom Penh, and Dubai-Porto (Portugal) — and its network spanned 158 destinations in 84 countries at the end of the first half.

ChargePoint, NATSO to expand US highway EV charging network

EV charging points will be installed at 4,000 rest areas and fuel stations serving US highways and rural communities by 2030, using $1bn in capital, through the National Highway Charging Collaborative. Partners in the collaboration are EV infrastructure firm, ChargePoint, and trade body, the National Association of Truck Stop Owners (NATSO). The partners will seek public and private funding to support the further roll-out of EV charging points.

https://www.greencarcongress.com/2020/02/20200210-chargepoint.html

Charging network ChargePoint and NATSO, which represents America’s travel plazas and truckstops, are creating a National Highway Charging Collaborative to extend access to EV charging. Over the next decade, the Collaborative will leverage $1 billion in capital to deploy charging at more than 4,000 travel plazas and fuel stops that serve highway travelers and rural communities. This significant expansion will link America’s drivers to a growing charging network in all 50 states and the District of Columbia, significantly increasing access to charging as EV adoption accelerates. The effort will not only enable long distance electric travel along major routes but will also provide vital access to charging in rural communities. Some analysts expect that 40% of new vehicle sales will be electric by 2040, with at least 100 new EV models expected to hit American roadways within the next five years. The new collaborative will not only increase access to charging for drivers, but will help improve mobility on America’s highways and connect existing Federal Highway Administration-designated FAST Act corridors. The partnership was formalized as part of a Memorandum of Understanding signed today by Pasquale Romano, President and CEO of ChargePoint, and Lisa Mullings, President and CEO of NATSO. As part of the MOU, the two organizations agreed that the National Highway Charging Collaborative will, by 2030:

*New rules could see funded class actions grind to halt

The Australian Securities and Investment Commission said the MIS scheme simply did not fit litigation funding. Treasury warned previous requirements for litigation funders to hold AFSLs may have resulted in some litigation firms leaving the market. The Association of Litigation Funders of Australia said the current MIS regulatory regime was "unsuitable for class actions.

https://www.afr.com/politics/federal/new-rules-could-see-funded-class-actions-grind-to-halt-20200724-p55f3u

"AFSL holders are obligated to: act honestly, efficiently and fairly; maintain an appropriate level of competence to provide financial services; and have adequate organisational resources to provide the financial services". But Ms Taylor said the MIS scheme simply did not fit litigation funding, a view shared by the Australian Securities and Investment Commission. "We don’t know how to comply. We don’t know what a class actions MIS looks like. We don’t know what we need to set up," Ms Taylor said. "We don’t operate the causes of action. We have no participation in that. We provide funds. The lawyers could be said to be the scheme operator … but they’re prohibited [by law] from doing so. To categorise class members in this way is inappropriate and has the potential to do great harm to the class action regime in Australia. — Pip Murphy, Association of Litigation Funders of Australia Advertisement "This regulation does not fit class actions, but after August 22 we will have to comply with something that makes no sense. "What that will mean is nobody will be able to file a funded class action until this is sorted out, which might take six to 12 months." In 2009, the Full Federal Court found litigation funder-backed class actions met the definition of Management Investment Schemes and were required to register and be managed by the holder of an AFSL. Then Labor Treasurer Chris Bowen amended the Corporations Act to exempt litigation funders and overrule the court's decision. Regulations introduced on Thursday repeal Labor's amendments which reverts the system back to the decision of the Full Federal Court. Advertisement "It is expected that the members of the MIS will be the class action plaintiffs in any similarly constituted litigation funding scheme," A Treasury spokeswoman told The Australian Financial Review on Monday. "The relevant parties will need to ensure that there is an operator of any litigation funding scheme constituting a MIS. Any parties who do not want to be considered to be operating the MIS will need to ensure that there is another party performing that role." In 2015, Treasury warned previous requirements for litigation funders to hold AFSLs "may have resulted in some litigation firms leaving the market, dampening competition and/or raising the price at which litigation funding was offered". The Association of Litigation Funders of Australia said while it supports funders being required to hold AFSLs, the current MIS regulatory regime was "unsuitable for class actions". "If Treasury seeks to shove the square peg of class actions into the round hole of the MIS regime by 22 August 2020, there will be material prejudice to group members seeking to enforce the rule of law," ALFA chief executive Pip Murphy said. "Does the government really think that the thousands of Indigenous Australians who sued to recover their stolen wages are investors in a MIS? Advertisement "To categorise class members in this way is inappropriate and has the potential to do great harm to the class action regime in Australia as well as decreasing a claimant's ability to access to justice." Ben Phi, managing director of funder Phi Finney McDonald, warned the new rules would reduce competition and drive up prices. "Plaintiffs in a class action aren't investors trying to make a profit – they're everyday Australians seeking recompense for a wrong," Mr McDonald said. "ASIC and the ALRC say the MIS regulations aren't fit for purpose and even Treasury admits they'll push up regulatory costs for business, force smaller players out of the market, destroy competition and drive up prices." Litigation funders have launched a marketing campaign – Keep Corporations Honest – against the government's proposed changes.

Biggest food manufacturers lockdown boost not a long term trend

The biggest consumer packaged goods companies saw the biggest spikes during lockdown according to IRI. Consumers were more inclined to go for products and brands they knew and trusted when stock piling for pantries and freezers. Now with these major brands trying to recover their over stretched supply chains smaller brands are filling the space on shelves meeting a demand for variety in products as consumers spend more time at home than ever.

https://www.fooddive.com/news/big-cpgs-struggle-to-gain-market-share-during-covid-19-despite-sales-boost/583953/

The sales growth large food manufacturers experienced this spring as consumers stocked up their pantries during the emergence of the coronavirus has yet to materialize into a long-term increase in market share, with many big CPGs continuing to lose out to smaller companies much like they did before the pandemic. While big manufacturers and brands across all categories, including food and beverage, wrestled space away from their smaller competitors in March and April — a reflection of their ability to quickly pivot to producing in-demand products and close working relationships with retailers — it proved to be short-lived, according to data provided by IRI. In recent weeks, smaller businesses have taken advantage of unstocked shelves, improvements in getting goods to retailers and a growing need by consumers for variety as they spend more time at home to grab all of the market share they lost, and then some, from their bigger, deeper-pocketed competitors. "Consumers have been attracted to a lot of iconic brands, but it still hasn't helped some of their inherent portfolio weaknesses because as a cohort they continue to cede share to smaller players," said Krishnakumar Davey, president of strategic analytics at IRI. "If you had challenges before COVID, they have not gone away." Law of supply and demand As the coronavirus outbreak intensified, nearly every food company touted the benefits to their bottom line. Nestlé saw a spike in demand for its coffee, frozen meals and home baking products. Unilever sold more of its teas, ice cream and condiments. And Campbell Soup and Kraft Heinz worked hard to meet demand for once-out-of-favor products like soup and boxed macaroni and cheese. Shoppers gravitated toward iconic brands they grew up with that gave them a feeling of nostalgia and comfort. This demand was beneficial for many big CPG brands that had struggled for years amid a broader push by consumers toward fresher, cleaner ingredients products and away from processed offerings that were reliable stalwarts in their company's portfolio. "Consumers have been attracted to a lot of iconic brands, but it still hasn't helped some of their inherent portfolio weaknesses because as a cohort they continue to cede share to smaller players. If you had challenges before COVID they have not gone away." Krishnakumar Davey President of strategic analytics, IRI The share of total sales by small manufacturers between $100 million and $999 million rose 0.1% in 2020 before the coronavirus intensified versus a year ago compared to big CPGs whose share dipped 0.4% during the same period, according to IRI data. The trend quickly reversed during the peak of the pandemic, with the market share of small companies declining 0.1% while bigger ones with more than $5 billion in value surged 0.4%. But since April, slower growth in discretionary offerings and stock-up brands, coupled with items continuing to be unavailable on shelves from some leading brands, has caused the share for large firms to plunge 1.6% while smaller businesses have jumped 0.7%. Executives at Campbell Soup, for example, said during its third quarter earnings call in June that while seven of its nine power brands in snacks grew or held share, it posted small losses in Snyder’s of Hanover pretzels and Goldfish crackers despite strong double-digit consumption growth. And soup, which was improving for Campbell's after several years of declines, saw its market share come under pressure in large part because of an inability to keep up with demand. "When you think about a world of a contained set of supply on the shelf, when we are not able to fully meet demand, it does open the door to other businesses or other brands that may be left on the shelf or available that has filled in a little bit," Mark Clouse, Campbell Soup's CEO, told analysts. "I think over time, we're going to get back to a better place." At Kraft Heinz, the food manufacturer posted mixed gains across its portfolio during its second quarter with Heinz, Jell-O and Ore-Ida gaining market share as consumption increased. At the same time, Oscar Mayer meat and Kraft Singles businesses ceded space to competitors as supply constraints were unable to meet elevated levels of consumer purchases. "If demand remains extraordinarily strong, growth should be fine, but share is likely to be challenging in certain categories," Carlos Abrams-Rivera, Kraft Heinz's U.S. zone president, told analysts in July. High demand categories such as soup, eggs, bottled water, meat and poultry where out-of-stocks have been especially prevalent had the biggest negative impact on brand leaders. IRI said the top brands in these food and beverage categories lost market share of between 1.3% and 2.6% compared to before the pandemic. Challenging the incumbents To be sure, the coronavirus has been a boon for some large food CPG companies thriving before the pandemic, such Mondelez International, which boasts an enviable portfolio of Ritz crackers, Oreo and Wheat Thins. Even General Mills, which has been lifted by its $8 billion purchase of Blue Buffalo two years ago, has prospered as consumers prepare more treats at home, increasing sales for its Pillsbury flour and Betty Crocker mixes, Davey said. IRI data showed cookies were a big market share winner as brand leaders gained 5.2% compared to before the coronavirus, while snack and granola bars jumped 3.2%, crackers and chocolate candy both rose 1.6%, and cold cereal, snack nuts and novelties all edged higher by about 1%. Among the small and mid-sized companies, businesses such as Goya, best known for canned beans, rice, olives, cooking oil, coffee, bottled sauces and tropical drinks; pasta and sauce maker Rana; and plant-based food manufacturer Beyond Meat have been among the biggest winners during the coronavirus, IRI said. The pandemic has been particularly taxing on the country's meat industry where thousands of workers have gotten sick and dozens of processing plants have shut down, prompting shortages at grocery stores and a spike in prices. While meat has struggled at times, the industry's challenges have boosted their smaller plant-based counterparts such as Beyond Meat and Impossible Foods. These and other faux-meat makers benefited when grocers ran out or limited quantities of burgers, pork chops and steaks, in some cases prompting consumers to try these products for the first time. Permission granted by Alpha Foods Impossible Foods, which has been selling its burgers in restaurants since 2016, only started offering the product on grocery store shelves last September. In early March, it was in 150 locations. Now, they are in more than 3,000 stores like Kroger, Safeway and Albertsons after accelerating its rollout following a surge in demand from consumers and interest from grocery chains. "We are selling everything we can make," Rachel Konrad, the head of communications at Impossible Foods, said in June. Beyond Meat, which sells its plant-based products next to animal-based meat in most grocery stores, posted a sales increase in retail stores of nearly 200% during its second quarter from a year ago. "There's a lot of momentum in the category overall," said Chuck Muth, chief growth officer at Beyond Meat. "We're competing pretty effectively right now, and we're growing at a faster rate than the category so our share is growing as well." Cole Orobetz, a co-founder and CEO of Alpha Foods, said the maker of plant-based burritos, nuggets, burgers and other frozen meal products reached out to retailers during the height of stockpiling to tell them they could provide a steady, reliable supply to the more than 10,000 stores where its products are sold. He told them to consider Alpha when they had empty shelf space. "For those retailers where we were selling, we did get the opportunity to expand our shelf presence," Orobetz said. "A number of retailers did take us up on that." In the last five months, Alpha Foods leapfrogged Kellogg Inc.'s Morningstar, Quorn and Kraft Heinz's Boca to become the best-selling plant-based nugget in the natural channel. It also surpassed Red's and Nestlé's Sweet Earth, making it the second-largest plant-based burrito brand, trailing only privately held Amy's Kitchen. The company’s forecast sales have more than doubled in 2020 from the "eight-figure revenue" it recorded a year ago, Orobetz said. Alpha Foods has posted record sales every month this year compared to the same months in 2019. "In the last few months, we have seen pretty much in all channels, in all retailers, a measured increase in baseline sales and new consumers coming to the products and brand," he said. Modernizing the portfolio Even as small companies encroach upon shelf space once occupied by multi-billion dollar companies, large CPGs can't lose sight of the fact that they need to innovate. The pandemic, while disruptive to millions of Americans and the broader economy as a whole, has afforded them an opportunity to repair fractured relationships with retailers, according to Erin Lash, a director of consumer equity research at Morningstar. "The continuation of this is so dependent on their ability to continue to invest and fuel that supply wheel," Lash said. "If there is anything that leads to a reversion back to carrying about profitability over balanced and sustainable sales growth, that could" make it harder for them to improve relationships with stores. After several years of aggressive cost-cutting and a focus on improving margins, food companies found they hadn't given enough attention toward innovating their portfolio through new offerings attuned to the healthier, fresher and portable trends. As a result, more nimble upstarts were able to wrestle away market share. Retailers were more than willing to give it to them in order to freshen categories at their store and draw in consumers. "We found out that a bigger brand with modern attributes crushes the little guys every day of the week." Bob Nolan Senior vice president of demand sciences, Conagra Brands After taking over as CEO of Conagra Brands in 2015, Sean Connolly quipped the company's frozen portfolio was full of iconic items that had grown tired and were "trapped in time." Since then, Conagra overhauled some of its key brands, including Healthy Choice, Marie Callender's and Banquet. by modernizing the packaging, as well as adding more trendy bowls, contemporary ingredients and ethnic flavors. It doubled down on frozen by adding brands such as Birds Eye and Gardein to the fold as part of its $10.9 billion takeover of Pinnacle Foods two years ago. The changes have shown signs of paying off during the pandemic. According to IRI data provided by Conagra, the company said its Banquet and Healthy choice brands had the strongest repeat rates among new buyers for the top five brands in the frozen food category for the 14 weeks ended May 31. At the same time, Birds Eye posted the strongest repeats among new buyers across the top three brands in the frozen vegetable category during the same period. Christopher Doering "During the fourth quarter, in particular, our transformation was put to the test, and you’re seeing the fruits of our labor," Connolly said during the company's fourth-quarter earnings call in June. "Our modernized portfolio and agile culture enabled us to respond to the increased consumer demand driven by COVID-19." Bob Nolan, senior vice president of demand sciences at Conagra, said in an interview the fact that people returned to buy its offerings, even during a pandemic, provided fresh evidence that big companies such as his can compete with smaller entrepreneurs if they make the right changes to keep their portfolio relevant. "We found out that a bigger brand with modern attributes crushes the little guys every day of the week," Nolan said. "People would rather buy a big brand that they trust, that they remember, that they know, especially during a crisis like COVID. If the food wasn't relevant, they wouldn't have bought it in a panic, and they wouldn't have bought it again." Davey at IRI said despite the challenges some large food companies had before the coronavirus, and their inability to gain lasting market share during it, they still have a prime opportunity to compete by tapping into their deep marketing expertise, supply chain advantages and ability to innovate. The battle over market share going forward will transcend beyond classic pricing and promotion, he said, to include how companies respond to the growing e-commerce market, the use of digital marketing to promote their items online and broader product assortment. "The battle over market share will always go on and it's never settled," Davey said. "Despite inroads of smaller companies and brands, large CPG companies will continue to thrive with their scale, financial strength and strength in marketing and sales."

Development of 1.2 GW wind power cluster in Brazil

Following the commissioning of the Vamcruz power plant in December 2015, Voltalia, the renewable energy-based electricity producer, has announced the development of one of the largest wind power clusters in Brazil, with a potential future capacity of 1.2 GW, of which 183 MW are currently in operation, 99 MW are in construction and 27 MW are ready to build.

http://www.electricenergyonline.com/detail_news.php?ID=567755&cat=;88;59&bul=1

Following the commissioning of the Vamcruz power plant in December 2015, Voltalia (Euronext Paris, ISIN code: FR0011995588), renewable energy based electricity producer, announces the development of one of the largest wind power cluster in Brazil, with a future potential 1.2 GW capacity, of which 183 MW are currently in operation, 99 MW are in construction and 27 MW are ready to build. "This cluster reflects Voltalia's ambitions and confirms its position as a leading international renewable power producer in Brazil. Thanks to our highly skilled teams and a solid project pipeline, we are currently building our success in Brazil as well as in each of the countries where we operate", says Sébastien Clerc, Voltalia's CEO. This cluster, called Serra Branca, will include the Areia Branca (90 MW) and Vamcruz (93 MW) operating plants; the latter started operations on December 22, 2015 after the progressive commissioning of its 31 wind turbines. The Vila Pará1 site (99 MW) will add to this list when its construction is achieved, as well as the Vila Acre project, won during the November 2015 national auctions2. The cluster, located in the Rio Grande do Norte State in Brazil, benefits from outstanding wind conditions. In order to connect it to the national grid, Voltalia built its own 52-km transmission line with a 400 MVA capacity as soon as 2014. In addition to the plants currently in operation or in construction, the cluster includes over 600 MW3 of projects in development and 330 MW in advanced prospecting. Plants developed within this cluster will be 100% held by Voltalia or built in partnerships; for example, the Vamcruz site, achieved in December 2015, is jointly held by CHESF, Encalso and Voltalia. All energies considered, Voltalia's total installed capacity in Brazil now amounts to 303 MW. 1 See press release dated 07/07/2015 2 See press release dated 11/16/2015 3 Correction made to the 700 MW mentioned in the news released on 01/05/2015. About Voltalia Producer of electricity from renewable energy, Voltalia develops, owns and operates power plants representing a total installed capacity of 376 MW in four energy segments: wind, solar, hydro and biomass. Voltalia is present in metropolitan France, Brazil, Greece, French Guiana and Morocco. Voltalia is listed on Euronext Paris since July 2014 (FR0011995588 - VLTSA). Click here to read the full press release.

TalkTalk BT increases prices for broadband and BT Sport

Abstract: UK telecoms company BT's fourth price rise in three years could see it's most loyal customers paying more than £600 ($811) annually for their TV, telephone and internet bundles. Among the increases are the BT Sports package, which hits viewers via Sky and TalkTalk the hardest, as their bill rises from £22.99 to £25.99 per month. Ironically, BT also offers the UK's cheapest deal, with its Plusnet's package at £19.99 per month, according to MoneySavingExpert.com.

https://www.theguardian.com/money/2018/jan/06/bt-price-hike-broadband-wifi-sport

BT’s latest price increase comes into effect on Sunday, meaning many of the company’s long-standing customers will soon be paying in excess of £600 a year for their home phone, calls and broadband package – a bill they could cut by £350 a year by swapping to BT subsidiary Plusnet. Unusually BT has chosen not to put up its landline charge this January, which means it is staying at £18.99 a month. Instead it is the company’s broadband and BT Sport customers who will be feeling the pinch this time round. This weekend’s hike is the fourth price increase imposed by the company in three years, and leaves it looking very expensive compared to rival offers. The telecoms market is now similar to the energy market in that those who do nothing pay the most. In terms of the hikes, BT customers on its basic broadband will now pay £2 a month more. That might not sound like a lot, but it equates to a 10% increase on top of what was already one of the highest broadband charges at £20 a month. Those on the faster Infinity packages will be paying an extra £2.50 a month. Customers who pay for the “anytime” unlimited calls deal will see that go up from £8.99 to £9.50 a month. Back in 2011 this cost £4.90 a month. The 1571 answerphone service, which is free at some rival operators, rises 50p to £3 a month, or £36 a year. Those who pay for each call they make will see the cost of making a call rise to a minimum of 35p from Sunday. BT Sport customers – who admittedly are getting a lot of sport for their money – will see their monthly bill rise to £10 a month (up £2.50) if they don’t watch it via BT TV. Those without BT broadband and who watch via Sky/TalkTalk will see the bill go up from £22.99 to £25.99 a month – or £312 a year. The company has frozen prices for low-income customers - those on its special BT Basic package. “We are investing more than ever in broadband, including boosting the speed, data and cloud storage of millions of customers,” insists a BT spokesman, adding: “There are also great personalised offers for our broadband customers. “They can stay on the same broadband deal for the same price as they were paying before this change, if they sign a new contract. Or they can choose to upgrade to a better product, usually offering more speed or more data, for their new price, which will be frozen for 18 months.” So what are people’s options? BT wrote to customers announcing the price hike in November and giving customers 30 days to quit penalty-free – even if they were in-contract. That date has expired, but millions of the company’s customers are free to switch supplier without penalty. Until Tuesday 9 January, Plusnet, which is owned by BT, is offering home phone and basic broadband for £19.99 a month, including landline – with £50 cashback. MoneySavingExpert.com calculates that this is the UK’s cheapest deal, as those buying their landline upfront for the 12-month contract duration at £210 can save £350 a year compared with what BT is charging. Elsewhere, Sky was this week offering a basic broadband/landline package service for £18.99 a month. There’s also a £50 pre-paid MasterCard thrown in, too, but a £19.95 set-up fee. TalkTalk has the same basic deal for £19.95 a month – the contract lasts two years but comes with the promise that prices won’t rise during the term. Other contract terms are available. If you want faster downloads, Plusnet also has a one-year fibre deal priced at £25 a month – just remember to switch or re-sign at the end of the first year. TalkTalk’s fibre deal is also £25 a month, but for two years. Another company to look at is the energy firm SSE, particularly if you are an existing energy customer. It is offering basic unlimited phone/broadband for £21 a month (or £26 a month for non-energy customers). The better-value fibre deal is £24 or £29 a month. Its anytime calls package costs £7 a month compared to BT’s £9.50. In both cases, prices are fixed for three years, but customers are on a rolling monthly contract, meaning you can leave at any time. As ever, prices are changing all the time, meaning you have to look at the companies’ websites for the latest deals. If you watch catch-up or streamed TV services, or download big files, it is worth the extra few pounds that fibre now costs.

Portuguese lender Eurobic scrutinised over AML procedures

Portugal's central bank is examining small lender Eurobic's anti-money laundering procedures in what it said was a "normal supervision process". Eurobic said the Bank of Portugal warned about the inspection in September 2019, before it was launched in November. In late December the same year, the assets of billionaire and former Angolan first daughter Isabel dos Santos were frozen amid allegations she and her husband had funnelled over $1bn from state-owned firms. Dos Santos holds a 42.5% indirect stake in Eurobic.

https://www.nasdaq.com/articles/exclusive-bank-of-portugal-scrutinises-isabel-dos-santos-eurobic-2020-01-16

By Sergio Goncalves LISBON, Jan 16 (Reuters) - Portugal's central bank is carrying out an inspection of small local lender Eurobic, in which Angolan billionaire and former first daughter Isabel dos Santos is the main shareholder, to assess its procedures against money laundering, Eurobic said. Responding to questions from Reuters, the unlisted bank said on Thursday it was complying with all requirements to prevent illegal transactions and that it saw the inspection as "part of the normal supervision process" in the banking sector. It also noted that the inspection began in late November, before Angolan authorities froze dos Santos' assets in the African country in late December. The asset freeze followed allegations by prosecutors that dos Santos and her husband, who have denied any wrongdoing, had steered payments of more than $1 billion from state companies Sonangol and Sodiam to firms in which they held stakes. One Portuguese financial sector source close to the process told Reuters an on-site inspection was ongoing at Eurobic and there was no estimated end date yet. "In September 2019, well before the referred asset freeze, the Bank of Portugal told us it was going to carry out an inspection of mechanisms of prevention and control of money-laundering and financing of terrorism, which began in late November," Eurobic said in written replies. Dos Santos, who is called "Africa's wealthiest woman" and also nicknamed "the Princess" in Angola after amassing a fortune estimated at more than $2 billion during her father Jose Eduardo's decades-long presidency, has called the asset freeze a "witch hunt". In Portugal, she holds significant stakes in several important firms, including telecoms company NOS NOS.LS, engineering company Efacec, and oil firm Galp Energia GALP.LS. A spokesman for dos Santos said she was "a shareholder in Eurobic, who does not follow the day-to-day management of the bank and is not aware of any new inspection". A spokesman for the Bank of Portugal declined to comment on Thursday but earlier this month, the financial authority said it was evaluating dos Santos' suitability as a shareholder in Portuguese banks. . Eurobic made no specific reference to dos Santos, who holds a 42.5% stake in the bank indirectly via two entities and does not sit on the board. The bank had assets worth 7.5 billion euros in 2018, with deposits of 5.7 billion euros and loans of 4.9 billion. It said it acted "in rigorous respect of the legislation concerning transactions with related parties - shareholders, related entities, family members, etc - and politically-exposed persons, subjecting them to greater scrutiny". The Bank of Portugal also investigated Eurobic in 2015. At the time the central bank concluded, according to documents seen by Reuters, that "the inherent risk (of illegal transactions) is considered as high" due to its shareholders' close links to Angola, while citing a Transparency International report that listed the country among the world's most corrupt. According to the latest such report in 2018, Angola ranked 165 out of 180 countries, measured from least corrupt to most. The central bank also, in 2015, noted that Eurobic's clients included various foreign, mainly Angolan, politically-exposed persons - a loose definition used by financial regulators to identify people holding prominent functions that can be abused for the purpose of laundering illicit funds, corruption or bribery. It also noted at the time that some of Eurobic's clients often made transactions involving large sums in cash. Eurobic said it had made "significant investment in the prevention of money-laundering or financing of terrorism" since receiving central bank instructions in 2016, "namely reinforcing its personnel and their functions" among other activities. It added that the central bank has been monitoring its progress. (Writing by Andrei Khalip Editing by Ingrid Melander; Kirsten Donovan) (([email protected]; (351) 213-509-209; Reuters Messaging: [email protected])) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

S4 Capital Integration key to survival in digital age: Sorrell

Sir Martin Sorrell has said S4 Capital will be "faster, better and cheaper" in the digital age than traditional holding companies, including his old firm WPP, because it is unified rather than "fragmented and siloed". Sorrell said one of S4's missions was to "disintermediate the traditional models", and warned traditional firms with "entrenched" verticals would not survive the digital age.

https://www.bandt.com.au/sorrells-faster-better-cheaper-s4-takes-latest-aim-wpp/

S4 Capital founder Sir Martin Sorrell has taken his latest aim at WPP, suggesting “old fashioned” legacy companies will struggle to survive without change. Speaking with Proactive London’s Andrew Scott, Sorrell said his plans for S4 are to be “faster, better [and] cheaper” than legacy companies. He said: “Faster means more agility in a world where CEOs, CMOs, CFOs and procurement officers all want agility in their organisations, particularly when they are the disrupted companies or legacy companies. “Better means understanding an ecosystem of 14 companies in a very sophisticated way,” such as Facebook, Google and Amazon. “Those 14 companies are the ecosystem we operate in and understanding them is the ‘better’ part of faster, better, cheaper. And cheaper [is about being] more efficient.” Sorrell took aim at the six traditional holding companies, including his former company WPP, and their fragmented and siloed business models. “Fragmentation we worry about, and the six traditional holding companies, one I helped build over 33 years, are two things: fragmented and siloed. Sorrell said in order to survive in the digital age, “a unitary company where everybody works together” is key. “We don’t describe our deals as acquisitions. We describe them deliberately as merges. So the principles of the companies we negotiate with in these merger discussions are wanting to sell-in, not sell out, that’s absolutely critical. “[S4] is on a mission to do two things. One is to create the new era advertising and marketing services company in a digital age. And secondly, [is our] mission around trying to disintermediate the traditional models.” Sorrell also said legacy companies will fail in the digital age because “their verticals are entrenched”. “When trying to run a legacy company, it’s very difficult in a digital transformation world, because if you’re running your legacy business in the right way, you don’t have control of the listed company, so you’re subject to the whims of the market. “We’re in the long term brand building business. I actually have a controlling share over S4 Capital, and I think that’s really important. Sorrell said he thinks the controlled listed companies that get criticised (such as Facbeook and Google) have the right business model. “It’s a good model because they can take the long term view. If you’re running a legacy company, you promise the street making money in the old fashioned way, you know, revenues, margins, profits, EPS, cash flows and all those sorts of things. “If the legacy business shudders, which in a digital world they often do, the natural reaction of the CEO is to put more pressure on the legacy business to provide money in the old fashioned way, which makes the legacy business less willing to experiment.” “So running a legacy company is very difficult and I want to stay clear of that.” Sorrell said at some point if S4 may need to “pivot” and think about becoming a legacy company in the future, which he said he’ll deal with when it happens. However, he added: “For the moment, I think for the foreseeable future, we have a very interesting field plan.”

Why The Latest Shale Bust Is Different

Since the end of September, a gaggle of other oil and gas drillers have filed for bankruptcy, including last Monday, natural gas producer Approach Resources. This pushed the total number of bankruptcy filings of oil and gas drillers since the beginning of 2015 to over 200. Other drillers, such as Chesapeake Energy, are jostling for position at the filing counter.

https://oilprice.com/Energy/Energy-General/Why-The-Latest-Shale-Bust-Is-Different.html

In 2019 through third quarter, 32 oil and gas drillers have filed for bankruptcy, according to Haynes and Boone. Since the end of September, a gaggle of other oil and gas drillers have filed for bankruptcy, including last Monday, natural gas producer Approach Resources. This pushed the total number of bankruptcy filings of oil and gas drillers since the beginning of 2015 to over 200. Other drillers, such as Chesapeake Energy, are jostling for position at the filing counter. Chesapeake has been burning cash ever since it started fracking. To feed its cash-burn machine, it has borrowed large amounts and has been buckling under its debt for years, selling assets to raise cash and keep drilling for another day. But its debt is still nearly $10 billion. Its shares closed on Friday at 59 cents. On November 5, in an SEC filing, it warned of its own demise unless oil and gas prices surge into the sky asap: “If continued depressed prices persist, combined with the scheduled reductions in the leverage ratio covenant, our ability to comply with the leverage ratio covenant during the next 12 months will be adversely affected which raises substantial doubt about our ability to continue as a going concern .” In early 2016, during Phase 1 of the oil bust — which had started in mid-2014 — Chesapeake had already used the threat of bankruptcy to push its creditors into accepting a debt restructuring. At the time, it was the second largest natural gas producer in the US. The debt restructuring reduced its debt burden somewhat and pushed maturities out, which then allowed it to borrow new money from new investors with a series of bond sales. This coincided with the Wall Street floodgates reopening to the oil and gas sector, when PE firms, hedge funds, and distressed-debt funds piled billions of dollars into the sector, and many of the oil and gas drillers were able to raise more cash to burn. Related: Is China’s “Clean Coal” A Lie? Chesapeake’s series of bond sales that it then undertook included, in January 2018, $1.25 billion of senior unsecured convertible notes with a coupon of 5.5%, due in September 2026. It issued those bonds at a discount, but by July 2018, a few months before Phase 2 of the oil bust set in, the bonds were trading at 103 cents on the dollar. On Friday, the last trade was at 45 cents on the dollar, giving these bonds a yield of over 21% (via TRACE, FINRA’s Trade Reporting and Compliance Engine): Other exploration and production (E&P) companies have seen their shares get crushed as reality began to re-set in. Whiting Petroleum shares [WLL] had spiked to $370 in August 2014, when the oil bust was setting in. By the trough of Phase 1 of the oil bust, in February 2016, its shares had plunged to $14. Then new money started flowing into the sector, and its shares rallied to $55 by August last year. Then Phase 2 of the oil bust set in, and after some disastrous earnings reports, its shares closed on Friday at $5.34. In June 2018, Whiting sold $1 billion of callable senior unsecured bonds, with a coupon of 6.625%. The next call date is in October 2025. Through September 2018, the notes were trading at 103-104 cents on the dollar. Then Phase 2 of the oil bust took its toll. On Friday, the bonds closed at 57.8 cents on the dollar, at a yield of 18.375% (via FINRA’s TRACE): The S&P U.S. High Yield Corporate Distressed Bond Index tracks bonds that trade at a yield that is at least 10 percentage points higher than the equivalent Treasury yield (“Option Adjusted Spread” of 1,000 basis points). Chesapeake’s bond illustrated above, trading at 21%, and Whiting’s bond trading at 18.375% qualify for this index with flying colors. Of the 182 constituents in the index, many are energy bonds. Since November 2018, the index has plunged by 28%: Now there are stories circulating of how billionaires, who in 2016 believed the hype that the fracking bust was over, have gotten tangled up and lost tons of money on their bets. Bloomberg recounts one such story, of the brothers Farris and Dan Wilks in Texas. In 2002, they’d turned their stone-mason expertise into Frac Tech Holdings. Chesapeake, the fracking pioneer with the collapsed shares and bonds above, acquired a 25.8% state in 2006. They became billionaires in 2011 when they sold the remainder of the company to an investor group led by Temasek Holdings, which is owned by the Government of Singapore, for $3.5 billion. They then bought large swaths of land in five states, becoming the top property owners in Montana and Idaho. However, not all of their wealth went into real estate. In 2016, the brothers started investing heavily in the fracking industry through their investment company, Wilks Brothers LLC, including oil and gas drillers in the Permian Basin and suppliers, such as frac sand supplier Carbo Ceramics, of which the brothers are the second largest investors. Back in 2015, Carbo Ceramics [CRR] still traded at over $40 a share. By October 2016, shares had dropped into the $6-range. Then the Permian boom started, and in early 2018, shares were trading at $12. But then the long hard decline continued, as demand for frac sand vanished as drillers were running out of cash and cut back on their drilling activity, and on Friday, shares closed at 41 cents. The brothers also invested $110 million in the above-mentioned natural-gas driller Approach Resources, which filed for bankruptcy last Monday. They invested in Alta Mesa Resources, which filed for bankruptcy in September, and they invested in Halcon Resources, which filed for bankruptcy in August (its second filing, after having already filed in 2016). Bloomberg notes: “Eight of the 10 biggest holdings in a portfolio spanning more than 50 investments have dropped since June 2018, when they were worth almost $1 billion. In a filing last week, they reported stakes in just seven entities worth a total of only $35.7 million. The combined value of those remaining holdings plunged by $171.2 million, or 88%, since they were initially disclosed.” Related: 5 High Yield Oil & Gas Stocks For 2020 ADVERTISEMENT The shale oil and gas business has turned the US first into the largest gas producer in the world, and then this year also into the largest crude oil producer in the world. It’s a huge business, with lots of high-paying jobs, not only in the oil field but in technology sectors, including software and hardware, manufacturing of heavy equipment, transportation, materials, and of course construction – ranging from pipelines and housing in the oil field to now partially empty office towers in Houston where, according to JLL, the office vacancy rate in Q3 climbed to an astounding 24%. The shale oil and gas business, when it’s hopping, is great for the US economy. Its activities feed a significant part of US industrial production, including manufacturing. It pays well, and manufacturing for the industry pays well, and construction for the industry pays well, and the tech components of the industry pay well, and these workers are spending their income on new vehicles and houses and other things, and boost the economy. Shale oil and gas drilling is awful for the land, water, and the broader environment. But so are all other methods of supplying power and fuel to an economy, including mountain-top coal mining, burning coal, hydro (which destroys entire canyons and rivers), nuclear power (nuclear waste, Fukushima, Chernobyl), even wind and solar power (the “fuel” is free and clean but producing and placing the equipment creates its own problems). When it comes to power and fuel, there are only compromises, some worse than others, and fracking is one of them. And it’s brutal on investors at prevailing prices. The industry has been cash-flow negative from get-go. The high prices of oil and gas the industry needs to be cash-flow positive are being prevented by prolific shale oil and gas production. Executive compensation packages have been self-designed to reward richly any increases in production, hence no-matter-what increases in production. And investors who believed the industry’s ceaseless hype are now grappling with reality – that their money was drilled into the ground and is gone. By Wolf Richter via Zerohedge.com More Top Reads From Oilprice.com:

TalkTalk Plusnet cheapest for fibre broadband

Plusnet is currently offering the UK’s cheapest broadband service. An average 36 Mb costs £22.99 ($29.89) monthly, plus a £70 cashback offering. While smaller operator Onestream has a better offer, its average speeds of 17 Mb put it closer to ADSL than to fibre, according to TechRadar.

https://www.techradar.com/uk/news/plusnet-takes-the-number-one-spot-of-cheapest-fibre-broadband-deal-in-the-uk

So far this year, the majority of the country's leading broadband providers, including BT, EE, Plusnet, Shell, Sky, TalkTalk, Virgin Media and Vodafone increased their prices by as much as 14.4%. In fact, even NOW Broadband raised its prices for the first time in the company's history. Whether or not the cost of your broadband has increased will depend on a number of factors that we've outlined in this explainer guide. However, the good news is that if the cost of your internet has increased and you're out of contract, you can switch providers without paying a penalty fee. Due to this, by switching providers now and locking in a great new deal, you could save a considerable sum. To help you save on your broadband, we've put together this detailed guide that provides a rundown of the best broadband deals available on the market today. Regardless of whether you're simply after something cheap and easy, lightning-fast fibre speeds, or you want to go all out with broadband, TV and extra add-ons, we've hunted down all the best broadband deals available from the country's top providers. If you already know what kind of broadband plan you want, simply use the price comparison widget below to compare the best and cheapest options from big names like BT, Sky, Virgin Media and EE. Not sure what you need with your internet or want to learn more? Read this guide to the best broadband deals available right now. You'll discover more about choosing fibre speeds, what broadband deals are currently available and much more. Latest Broadband Deals Loading... Which provider has the best broadband deals? Here in the UK, we're lucky to have a wide range of popular broadband providers. But, as a result of this, finding the right broadband provider for your needs can be difficult. Going back a decade, only a handful of providers were available and all of them used the Openreach network. Due to this, customers had a very limited amount of choice and it was difficult to find value. Thankfully, this is no longer the case and today customers can choose from almost 20 different internet service providers (ISPs), including both household names and challenger brands that specialise in cheap deals. As you may expect, each ISP has its own specialisms. For example, Virgin Media is known for providing the fastest speeds on the market. Meanwhile, Sky is best known for its impressive range of broadband and TV bundles. At the other end of the scale, Plusnet and TalkTalk usually compete to offer the very cheapest deals on the market. With this in mind, here are the main broadband providers and the broadband deals they're best known for providing: Virgin : best for super-fast speeds : best for super-fast speeds Sky : best quad-play provider : best quad-play provider BT : best all-round internet provider : best all-round internet provider Vodafone : affordable pricing for fibre internet : affordable pricing for fibre internet Plusnet : frequently the cheapest provider for both fibre and ADSL : frequently the cheapest provider for both fibre and ADSL TalkTalk : affordable internet across all categories : affordable internet across all categories Now Broadband: cheapest for broadband and TV However, it's important to stress that although each provider does have its own specialism, each also offers a great range of deals. For example, although Sky offers the best broadband and TV deals on the market, they also regularly cut the prices of their broadband only packages. When they're on sale, these are competitively priced. Similarly, although we think Sky's broadband and TV packages are the best available, you may find that an option provided by Virgin Media or BT is actually better for your needs... or cheaper. For this reason, before you commit to one provider, you should run a broadband comparison and check exactly what's available in your area. This will also help highlight any special offers that are currently available. (Image credit: CASEZY) Speeds & Availability Do I need ADSL or fibre broadband? There are several different types of broadband available in the UK. However, the two most popular are undoubtedly ADSL connections, which are slower and more affordable, and fibre broadband deals, which are usually faster and slightly more expensive. Deciding whether an ADSL connection or a fibre package is right for you can be tricky. This is because this decision is influenced by a number of factors, such as: where you live, what you'd like to use the internet for and how much you'd like to pay. Firstly, whether or not your property can actually receive a fibre connection will be determined by where you live. Thankfully, the availability of fibre broadband has improved significantly over the past few years, and now estimates suggest that around 95% of homes in the UK can now receive a fibre connection. However, but many homes and businesses in rural and remote locations cannot. For this reason, before you look into whether fibre or ADSL is right for you, we recommend that you try a postcode checker (like the one at the top of this page). This way, you can check exactly what packages are available at your address. It's also worth adding here that, if your home is eligible to receive a fibre connection, then some broadband providers will not provide you with an ADSL connection. This is because these older connections are slowly being phased out. But, this varies on a provider-by-provider basis and a postcode checker will reveal all. If you discover you can receive a fibre connection, you need to decide whether this type of connection is right for you. If you only use the internet to send emails, check your social media and browse the web, then an ADSL internet deal might be the best option for you because otherwise you may be paying for download speeds you won't use. So, in these instances, you can probably shop around for a provider that will still offer you an ADSL connection and save a little bit of money. But, if you regularly stream your favourite shows on Netflix, game online, or live in a household with lots of connected devices and family members who also want to get online, you'll be much better served by a fibre broadband deal. This is because the faster speeds you'll receive will prevent buffering and lag. In these scenarios, the small additional cost will likely be worthwhile. Of course, although ADSL and fibre packages are the two most popular types of broadband in the UK, other types of broadband are available. If you'd like a full rundown, take a look at our guide to the different types of broadband available in the UK. You may find that a connection that relies on mobile data or satellite signal is better for you. Alternatively, you may find that, given your demands, a full fibre deal that provides rapid download speeds is actually the best choice for you. Which broadband speed do I need? Broadband speeds are represented in megabits per second (Mbps). Put simply, the more Mbps, the faster the broadband speed you receive at your property. To help you work out which speed is right for you, here's a rundown of what some of the advertised average speeds mean in practical terms: 0-12Mbps - A package offering these speeds is likely to be an ADSL broadband deal. Now considered to be an old form of broadband, ADSL deals are slowly being removed from the market. This is because these packages simply are not quick enough for the demands of the modern household. This is particularly the case if you like to download films or watch your favourite shows on Netflix. That said, ADSL deals remain the cheapest on the market. So, if you only want to browse the web, check your social media or send and receive emails, a package like this could be a good option. 25-50Mbps - These speeds fall at the bottom end of the fibre broadband category. As they're at least twice as quick as ADSL packages, these speeds are likely to be right for you if you live in a medium-sized household where multiple family members are continually online at the same time. However, if you live in a particularly large home or you have high download demands, you may suffer from some buffering and lag with a package like this. 50-100Mbps - If you have lots of connected devices, a large home or high download demands, then a package that falls in this range could be good for you. That said, although these speeds are quick and will allow you to stream 4K TV or download films in UHD, quicker packages are still available. 100Mbps+ - These speeds fall under the 'full fibre' category and they're the fastest available. Although the headline speeds are eye catching and enticing, you should be aware that unless you live in a vast house or a home where every family member is continually streaming in UHD, you're unlikely to get much value from a package like this. It might be the case that you live in an incredibly connected household that needs these speeds. But, if not, you'll be paying a premium to access speeds you're not using. What is 'average' speed for broadband? When you're looking at broadband deals, you'll find that each tells you about the average download speeds you can expect to receive. This will be displayed in megabits per second or Mbps. However, it's important to remember that these are 'average' figures. This means they're not a guarantee of the speed you will actually receive. In this context, the 'average' is defined as the speed in Mbps that is received by over 50% of users in the UK between 8pm and 10pm, which is the peak time for internet use. Thankfully, as well as an average speed, ISPs must also provide a minimum speed guarantee to customers. So, before you sign up with your chosen provider, you should check this and ensure that even this slower speed is quick enough to suit your needs. Is fibre broadband available in my area? As we mentioned earlier, fibre broadband deals are now widely available. In fact, around 95% of households are now eligible to receive a fibre broadband connection. Those that aren't are usually located in remote or isolated areas; particularly in Scotland. On top of this, the fibre network has become so advanced that around 10 million homes are now also eligible to receive so-called 'full fibre' broadband. Some of these packages are much quicker than traditional fibre packages and are even capable of delivering gigabit-capable speeds! But, the availability of either a fibre or a full fibre package shouldn't be taken for granted. Thankfully, it's incredibly easy to see what broadband packages are available at your home address. The easiest way of doing this is heading to the widget at the top of this page. Simply provide us with your postcode and we will run a broadband comparison and find out exactly which options are available for you. Broadband contracts and pricing: What contract length should I go for? The shortest broadband contracts last for 30 days, but the longest run for two years. It's important that you find the right deal for you as each offers different pros and cons. For example, one-month contracts are favoured by people who are looking for increased flexibility. This is because you can leave the contract and switch providers at almost any time. However, this increased flexibility comes at an additional cost and these deals are usually the most expensive on the market. Added to this, they often also come with upfront costs. On the other side of this equation, two-year deals cost less on a monthly basis and you may not have to pay any upfront fee at all. In fact, you may even receive an incentive for signing up, like a gift card or a voucher. But, these contracts tie you in for a long time and the majority also come with hefty cancellation fees. As a result, they're not a good choice if you might be moving soon or you're unsure whether that deal really is the right one for you. We should point out that these are the extremes and a lot of the major providers do offer deals that last for 12-18 months. Whether you opt for a long-term deal, a short-term option or a mid-length contract is largely a personal choice. So, carefully consider which option fits your circumstances best before you commit. Will I have to pay anything upfront for broadband? Although the majority of broadband deals do come with some form of upfront fee, this isn't always the case. Whether or not you need to pay an upfront fee as part of your internet package will largely be determined by the provider you choose and the length of contract you take out. While some broadband providers don't charge anything upfront when you take out a new contract, they tend to be lesser known. Unfortunately, the majority do charge some form of delivery fee, setup fee, or installation fee. However, while major providers do tend to charge some form of upfront fee, they're usually happy to either waive these fees or vastly reduce them if you sign-up for a long-term contract. Many also eliminate fees entirely when they put offers on. Upfront fees vary on a provider-by-provider basis, but generally speaking they vary between £5 (for delivery of your new router) to £60 (for an engineer visit and installation). If you add a TV package to your deal, there may also be an additional fee to pay for a separate engineer visit. Do I have to pay more to have a phone line or a landline? Generally speaking, most broadband contracts do work out cheaper if you take out a 'broadband-only' deal and don't get a landline as part of the package. However, this isn't always the case and many providers put deals on throughout the year that include free call plans as part of the package. For this reason, you shouldn't just assume that a broadband-only deal will be the cheapest option. But, before you pay for a landline, it's first important to understand whether you actually need one. Nowadays, a lot of people use the terms 'phone line' and 'landline' interchangeably, but they actually mean very different things. If you'd like to learn more about this, check out our detailed explainer guide on the subject. It's well worth doing your research, as you don't want to pay for a landline if you don't actually need one. Done your research and decided you do need a landline? Well, we recommend that you run a broadband comparison on this page. This way you'll be able to see exactly how much one will cost. If you're certain you need a call package, you can filter your results so you only see options that include 'broadband & phone' options. Broadband FAQ (Image credit: Kittichai Boonpong / EyeEm) Are Wi-Fi and broadband the same thing? Yes and no. It's slightly confusing because most people use these terms interchangeably. However, 'Wi-Fi' and 'broadband' are actually two different things. Let's explain in greater detail... For your home to receive a stable and reliable broadband connection, a cable is usually run from a cabinet on your street into your home. This cable is then used to connect you to an internet service provider. Once you're connected, the cable provides you with a high-speed connection that's known as a broadband connection. Once you have a broadband connection, you can then receive Wi-Fi. This is the method by which your broadband connection is distributed from your router or hub to your devices. This process occurs wirelessly. Can I cancel my internet plan early? In some limited instances, you can cancel your broadband contract for free even if you're still under contract. However, the majority of the time, you'll need to pay a cancellation fee. This can be expensive, so we only recommend taking this step if you absolutely have to. Generally speaking, while you're still under contract, your current provider can charge you a fee for leaving unless they've failed to meet the terms set out within your contract. Some examples of this include failing to offer a reliable connection or failing to provide an internet connection that meets a minimum speed guarantee. The exact reasons why you may be able to leave your contract early differ on a provider-by-provider basis. Yours will be detailed in your contract, so we recommend that you read it closely. If your provider has met the minimum standards expected of them and you'd still like to leave, then you'll need to pay a fee to leave your contract early. The exact amount you'll need to pay for leaving your contract will primarily be determined by your current provider and the amount of time you have left on your deal. For example, if you still have a year left on your contract, then it will usually cost you more to leave than if you only had a few months left. However, while some internet service providers ask you to pay a certain amount per month you have left, others charge a flat fee. To find out exactly how much you'll need to pay, you should check the information within your contract. This document should clearly state both what you need to do to cancel your contract early (you can't just cancel your direct debit) and how much it will cost. If this information is unclear, you should speak to your provider directly. In an attempt to not lose you as a customer, they may switch you to a different deal that's better for your needs. However, you should be aware that they're under no obligation to do this and may charge you a fee for this service. My contract has ended, should I change plans? Absolutely! If you're not currently under contract, then it's more than likely that you're paying far too much for your broadband. Plus, you might also find that you're able to access faster speeds than you were before your current contract started. Many of the UK's top broadband providers save their best deals for new customers. Plus, most also offer incentives like gift cards. So, if you're out of contract or your current contract is coming to a close, then we recommend that you use this page to find the best broadband deals available in your area. After all, if you fail to run a broadband comparison and instead allow your current provider to move you onto a new deal, then you'll likely be paying over the odds. If you instead actively hunt out the best deals, then you'll be able to save a considerable sum. That said, if you like your current provider and you want to stay with them, then it's worth ringing them and haggling over price. Even though loyalty isn't often rewarded, certain providers like Sky are now gaining a reputation for customer retention.

Will COVID-19 Lead to More Automation?

The pandemic has tested the world’s supply chains and manufacturers to the breaking point, and it is those companies best positioned are those which have embraced the technological approaches enabled by the digital era. Manufacturing companies are now seeking advice on how they can increase their use of automation to ensure they will be better prepared for any future pandemics. Enrico Krog Iversen, CEO of OnRobot, believes that the demand for cobots will be greater than for more conventional robots owing to their ease of adaptability.

http://emag.directindustry.com/will-covid-19-lead-to-more-automation/

Is automation helping manufacturing companies cope with the effects of the COVID-19 pandemic? Will the current situation have longer-term implications for how industry utilizes relevant technologies? Could the pandemic accelerate the digitization and automation of industry? Mike Loughran, chief technology officer for the UK and Ireland at Rockwell Automation, thinks so: “Augmented Reality, Artificial Intelligence, remote working and advanced analytics can all be used to meet the challenges of coronavirus. But they require a connected enterprise which allows the flow of data between machines, supply chains and business layers.” Automation Technologies Proved Their Efficiency During the Pandemic Microsoft AR Hololens headset can be used to facilitate remote engineering support on a real plant floor. Loughran cites as an example the Microsoft AR Hololens headset, which can be used to facilitate remote engineering support on a real plant floor or to navigate digital twins – working virtual models of industrial processes and operations that allow changes to be designed and tested digitally before making alterations in the real world. “It is a fantastic tool for manufacturers who need to design a whole new manufacturing process, since it allows iterative redesign at a speed that would otherwise be impossible.” Companies reconfiguring their operations to make healthcare products such as masks or ventilators are a case in point. But automation can also help companies ramp up production volumes to meet increased demand, reports Loughran: “We recently collaborated with Chinese hygiene products machine builder Haicheng Machinery to increase the production capacity of their high-speed mask making machine. A solution based on our ControlLogix control system and next generation motion controllers has helped increase output from 150 to 500 masks per minute.” For Loughran, there is little doubt that the world will emerge from coronavirus a different place. “The pandemic has tested the world’s supply chains, manufacturers and whole economic models to the breaking point, and it is our belief that those companies best positioned to meet the challenge are those which have embraced the technological and strategic approaches enabled by the digital era.” Preparing for the Next Pandemic with Automation A Universal Robots Cobots with an OnRobot gripper for the food industry (Credit: OnRobot) For David Bicknell, principal analyst, Thematic Research at GlobalData: “The fallout from COVID-19 will now focus organizations on the need to automate faster in the medium term, not least to help bridge the productivity gap. Projects like Industrie 4.0, which encompass both the cyber and physical worlds, will attempt to tackle the world’s continuity productivity shortfall. It is a pressing task, made all the more urgent by COVID-19. Had business moved with more alacrity and determination when it had the opportunity, it would be in a different place. Those that missed the boat will have the motivation to prepare themselves better for future crises.” Another individual keeping a close eye on the situation is Enrico Krog Iversen, founder and CEO of OnRobot, based in Odense, Denmark, which manufactures “end effector” devices such as grippers and sensors for robot arms. He confirms that manufacturing companies are now definitely “reaching out to the integrators” for advice on how they can increase their use of automation to ensure they will be better prepared for any future pandemics. Before he founded OnRobot, Iversen set up Universal Robots, also based in Odense, one of the major global suppliers of cobots, a type of automation that he says is particularly pertinent to present circumstances. He explains that the ease with which cobots can be reprogrammed has two important implications. The first is that it facilitates the “rapid reconfiguration of production lines” to allow for the increased physical separation of people that coping with the virus demands. The second is that it allows for the equally rapid introduction of new products which the pandemic has created a demand for. Iversen believes that when the crisis is over, the demand for cobots will be greater than for more conventional robots. He explains that, “[Such machines are] much easier and faster to deploy in existing factories because they take up less space and their deployment does not impede current production as much.” Iversen believes that when the crisis is over, the demand for cobots will be greater than for more conventional robots. (Credit: UR) David Bicknell confirms this idea: “Inside China’s COVID-19 clogged supply chain and beyond, it’s clear that preventing future plant shutdowns means making a greater investment in robotics and automation. In recent years, China has bought more robots than any other country, especially collaborative robots. It will now have to start putting them to work.” So will the pandemic accelerate automation? For Bicknell, it will take some time. “By the time it expires, COVID-19 may have served to at last accelerate an investment in factory automation when the global economy eventually rebounds. But that will take a while.” Keeping the Workplace Safe With Automation Disinfection robots using UV (Credit UVD) Meanwhile, another robotics company in Odense may have a machine that could prove useful in helping production facilities remain safe places to work despite the virus. UVD Robots builds machines that use an autonomous guided vehicle (AGV), much like those commonly found in industrial environments, as the base for an array of ultra-violet (UV) light transmitters that can can destroy viruses. CEO Per Juul Nielsen confirms that UV light with a wavelength of 254nm has a germicidal effect at a range of about one meter, and the robots have been used for this purpose in hospitals in Europe. He says that one of the machines could typically disinfect a single bedroom in about five minutes while paying particular attention to “high-touch” surfaces such handrails and door handles. But, interestingly, Nielsen also confirms that, “The company has now started to receive orders for non-healthcare environments such as airports, offices, warehouses and production facilities.” So robots may soon not just work with people in manufacturing tasks, but actually help make a range of impacted workplaces safe places to be as well. Disinfection, Social Distancing Wearables… How Can Technology Ensure a Safe Workplace?

Citizens Community Bancorp places SOFR-linked fixed-to-floater

Citizens Community Bancorp has completed a $15m placement of 10-year SOFR-linked fixed-to-floating rate subordinated notes. The notes will pay interest at a fixed rate of 6% p.a. for the first five years, after which the rate will switch to the then current three-month SOFR plus 591 bp.

https://www.marketscreener.com/quote/stock/CITIZENS-COMMUNITY-BANCOR-36097/news/CITIZENS-COMMUNITY-BANCORP-INC-Entry-into-a-Material-Definitive-Agreement-Creation-of-a-Direct-F-31190512/

Item 1.01. Entry into a Material Definitive Agreement. On August 27, 2020 , Citizens Community Bancorp, Inc. a Maryland corporation (the "Company") entered into a Subordinated Note Purchase Agreement ("Note Purchase Agreement") with certain accredited purchasers (the "Purchasers"), pursuant to which the Purchasers agreed to purchase 6.00% fixed-to-floating subordinated notes in the aggregate principal amount of $15 million (the "Notes"). The Notes provide for a maturity date to occur ten years from the date of issuance. From the date of issuance of the Notes until, but excluding, September 1, 2025 (the "Fixed Interest Period"), the annual interest rate of the Notes is 6.00%. After the Fixed Interest Period and through maturity (the "Floating Interest Period"), the interest rate will be reset quarterly to equal the three-month term Secured Overnight Financing Rate, plus 591 basis points. Interest on the Notes will be payable semi-annually in arrears on March 1 and September 1 of each year during the Fixed Interest Period, and quarterly in arrears on March 1 , June 1 , September 1 and December 1 of each year during the Floating Interest Period. The Notes are expected to qualify as Tier 2 capital for regulatory capital purposes, subject to applicable limitations. The Note Purchase Agreement provides that the Notes may not be redeemed by the Company prior to the fifth anniversary of the effective date of the Notes, with certain limited exceptions. The Note Purchase Agreement contains customary representations, warranties and covenants by each of the parties. Janney Montgomery Scott LLC acted as sole placement agent for the offering. Taft Stettinius & Hollister LLP acted as legal counsel to the Company, and Godfrey & Kahn, S.C. acted as legal counsel to Janney Montgomery Scott . The foregoing summary of the Note Purchase Agreement and the Notes does not purport to be complete and is subject to and qualified in its entirety by the full text of the Form of Note Purchase Agreement and the Form of Note, which are filed as Exhibits 4.1 and 4.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under Off-Balance Sheet Arrangement of the Registrant. The information set forth under Item 1.01 is incorporated by reference into this Item 2.03. Item 3.03. Material Modifications to Rights of Security Holders. During the continuance of an event of default under the Note Purchase Agreement, the Company is restricted from declaring or paying any dividends on, or redeeming, purchasing, acquiring or making a liquidation payment with respect to, any of its capital stock, other than (i) any dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, any class of the Company's common stock; (ii) any declaration of a non-cash dividend in connection with the implementation of a shareholders' rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto; (iii) as a result of a reclassification of the Company's capital stock or the exchange or conversion of one class or series of the Company's capital stock for another class or series of the Company's capital stock; (iv) the purchase of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged; or (v) purchases of any class of the Company's common stock -------------------------------------------------------------------------------- related to the issuance of common stock or rights under any benefit plans for the Company's directors, officers or employees or any of the Company's dividend reinvestment plans. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 4.1 Form of Subordinated Note Purchase Agreement 4.2 Form of Subordinated Note 104 The cover page from this Current Report on Form 8-K in Inline XBRL (Extensible Business Reporting Language) --------------------------------------------------------------------------------

Bank Albilad selects Cashu for payments innovation

Bank Albilad has partnered with CASHU to develop payment products and services for the growing electronic payments market in Saudi Arabia. The lender will use CASHU's payment technology to deliver services that include prepaid mobile wallets, NFC coverage for retail transactions and other products tailored to the bank's customers. Abdulaziz Al-Onaizan, CEO of Bank Albilad, said that financial services have evolved and customers are now looking for banks that provide enhanced account management, remittance and payment services.

https://www.finextra.com/pressarticle/66497/bank-albilad-selects-cashu-for-payments-innovation?utm_medium=rss&utm_source=finextrafeed

Source: Cashu Bank Albilad, announced its strategic partnership with CASHU to develop innovative payment products and services for the Kingdom’s fast growing electronic payments market. Bank Albilad will leverage CASHU’s payment technology, digital assets and wide vendor network to deliver new payment services to the Saudi market via a wide range of platforms, including advanced services; such as: prepaid mobile wallets, a regional bill presentment facility, NFC (Near Field Communication) coverage for retail transactions and more products tailored to fit the growing needs of the bank’s customers. “Bank Albilad has grown rapidly, establishing one of the Kingdom’s largest financial services network by identifying current and future customer needs,” said Mr. Abdulaziz Al-Onaizan, CEO of Bank Albilad. “Through our partnership with CASHU, we look forward to providing our customers with the most advanced electronic payment services with the highest standard of security that our customers expect.” Mr. Al-Onaizan emphasized that customers’ financial services have evolved. Customers are now looking for banks that provide the best financial services in terms of account management, remittance and payment. “CASHU has been operating successfully in Saudi Arabia since 2003 and has become the preferred method of payment for online shoppers in the Kingdom,” said CASHU CEO, Thaer Suleiman. “Our new partnership with Bank Albilad will allow us to develop a variety of new and innovative payment solutions specifically for the Saudi market and further grow our customer base in the Kingdom. Working alongside Bank Albilad, CASHU also plans to introduce new mobile payment solutions for the domestic market, including NFC payments.” “It is well known that Bank Abilad is a leader in the Saudi remittance services market through the bank’s remittance arm, Enjaz Banking Services,” said Suleiman. “For this reason, we are also in discussion with the bank about developing new value-added services for expats residing in the Kingdom.”

Westpac implements real-time scam analysis, amid surge in fraud

Australian bank Westpac has rolled out a real-time scam detection system across its branches, boosting customer protections at tax time amid a Covid-19-linked spike in fraud. The solution identifies suspicious transactions and issues alerts to Westpac staff, while a series of questions helps determine if the transaction is genuine or fake.

https://www.finextra.com/newsarticle/36361/westpac-to-send-branch-staff-real-time-scam-alerts

Westpac is implementing new scam-detection technology across its branch network to protect against a spike in fraudulent transactions since the start of the Covid-19 pandemic. The new technology will send Westpac branch employees real-time alerts as payments are being processed, so that suspicious transactions can be identified and investigated on-the-spot. Westpac data shows that some of the most common scams include being tricked into sharing personal details through phone calls, texts or emails from scammers pretending to be a familiar business or government body, as well as dating or romance scams where customers are convinced into sending money or gifts to a prospective companion. Westpac’s chief customer engagement officer, Ross Miller, says the average person loses $12,000 when scammed. “With lots of people spending time in isolation and applying for government support through initiatives like JobKeeper, all against the backdrop of tax time, it’s never been more important to be educated against those looking to take advantage,” he says. The technology works by providing real-time analysis through Westpac’s dedicated fraud team to indicate if the transaction is at high risk of being a scam or fraud. If a transaction is suspected fraudulent, the system will prompt a series of questions to help the banker determine whether to pause or decline the payment. “While we can’t stop every loss, this is another layer in the net to help catch high risk transactions by using the latest real-time technology to analyse the transaction and detect potential scams or fraudulent activity,” says Miller. “We’re also using people power to bolster this technology, including further training for our frontline bankers to help with monitoring transactions and supporting customers if there is cause for concern.”

One billion people will live in insufferable heat within 50 years – study

A billion people will either be displaced or forced to endure insufferable heat for every additional 1C rise in the global temperature. Areas currently home to a third of the world’s population will be as hot as the hottest parts of the Sahara within 50 years, the paper warns.

https://www.theguardian.com/environment/2020/may/05/one-billion-people-will-live-in-insufferable-heat-within-50-years-study

The human cost of the climate crisis will hit harder, wider and sooner than previously believed, according to a study that shows a billion people will either be displaced or forced to endure insufferable heat for every additional 1C rise in the global temperature. In a worst-case scenario of accelerating emissions, areas currently home to a third of the world’s population will be as hot as the hottest parts of the Sahara within 50 years, the paper warns. Even in the most optimistic outlook, 1.2 billion people will fall outside the comfortable “climate niche” in which humans have thrived for at least 6,000 years. The authors of the study said they were “floored” and “blown away” by the findings because they had not expected our species to be so vulnerable. “The numbers are flabbergasting. I literally did a double take when I first saw them, ” Tim Lenton, of Exeter University, said. “I’ve previously studied climate tipping points, which are usually considered apocalyptic. But this hit home harder. This puts the threat in very human terms.” There will be more change in the next 50 years than in the past 6,000 years Instead of looking at climate change as a problem of physics or economics, the paper, published in the Proceedings of the National Academy of Sciences, examines how it affects the human habitat. The vast majority of humanity has always lived in regions where the average annual temperatures are around 6C (43F) to 28C (82F), which is ideal for human health and food production. But this sweet spot is shifting and shrinking as a result of manmade global heating, which drops more people into what the authors describe as “near unliveable” extremes. Humanity is particularly sensitive because we are concentrated on land – which is warming faster than the oceans – and because most future population growth will be in already hot regions of Africa and Asia. As a result of these demographic factors, the average human will experience a temperature increase of 7.5C when global temperatures reach 3C, which is forecast towards the end of this century. At that level, about 30% of the world’s population would live in extreme heat – defined as an average temperature of 29C (84F). These conditions are extremely rare outside the most scorched parts of the Sahara, but with global heating of 3C they are projected to envelop 1.2 billion people in India, 485 million in Nigeria and more than 100 million in each of Pakistan, Indonesia and Sudan. This would add enormously to migration pressures and pose challenges to food production systems. “I think it is fair to say that average temperatures over 29C are unliveable. You’d have to move or adapt. But there are limits to adaptation. If you have enough money and energy, you can use air conditioning and fly in food and then you might be OK. But that is not the case for most people,” said one of the lead authors of the study, Prof Marten Scheffer of Wageningen University. An ecologist by training, Scheffer said the study started as a thought-experiment. He had previously studied the climate distribution of rainforests and savanna and wondered what the result would be if he applied the same methodology to humans. “We know that most creatures’ habitats are limited by temperature. For example, penguins are only found in cold water and corals only in warm water. But we did not expect humans to be so sensitive. We think of ourselves as very adaptable because we use clothes, heating and air conditioning. But, in fact, the vast majority of people live – and have always lived – inside a climate niche that is now moving as never before.” We were blown away by the magnitude,” he said. “There will be more change in the next 50 years than in the past 6,000 years.” The authors said their findings should spur policymakers to accelerate emission cuts and work together to cope with migration because each degree of warming that can be avoided will save a billion people from falling out of humanity’s climate niche. “Clearly we will need a global approach to safeguard our children against the potentially enormous social tensions the projected change could invoke,” another of the authors, Xu Chi of Nanjing University, said.

Camarada app allows for consumer production of VR video

Aimfire is launching its Camarada app, allowing users to shoot VR video by using two smartphones. Making VR cheap and accessible would help the broader VR market, which could be a $25bn industry by 2021, according to Digi-Capital. Normally, VR has to be shot with dedicated camera arrays or multi-camera products designed for use by film studios rather than ordinary consumers. Camarada links and synchronises smartphone cameras to automatically produce VR videos. The app is free and available to download on Google Play, and available soon in the Apple App Store.

http://venturebeat.com/2017/01/31/camarada-app-lets-you-take-virtual-reality-videos-with-two-smartphones/

Aimfire is launching its Camarada mobile app that allows you to take stereoscopic 3D video — or virtual reality videos — using two smartphones. The solution is the poor folks’ way to do VR, and that could help the larger cause for VR, which could be a $25 billion industry by 2021 (according to tech advisor Digi-Capital). Making VR cheap and accessible means that more people will use it, Aimfire believes. The Camarada app gets around the problem that VR today has to be shot with dedicated camera arrays, or multi-camera products such as the GoPro Odyssey and Nokia Ozo. These are expensive and a pain to carry around. They’re designed for movie studios, not the ordinary consumer, Aimfire said. Now it will be a lot easier to preserve and relive your memories in virtual reality (if that’s really what we all want to do). Event Transform 2023 Join us in San Francisco on July 11-12, where top executives will share how they have integrated and optimized AI investments for success and avoided common pitfalls. Register Now Camarada turns nearby smartphones into dynamic camera arrays. The proprietary technology precisely synchronizes and links smartphone cameras and rectifies their output to automatically produce true VR videos without user intervention. From the simple yet innovative single-user mode to the powerful multi-phone mode, this flexible solution makes it possible for anyone to create engaging VR content. “The lack of user generated content is a big pain point for virtual reality,” said Joe Sofio, cofounder of Aimfire, in a statement. “Professional-grade VR cameras are designed for Hollywood and way out-of-reach for the mass market. Camarada allows anyone to capture and share VR video with their smartphones, for free. The stunning 3D videos it creates rival those created with specialized cameras that cost hundreds, even thousands of dollars.” While other VR camera apps capture multiple photos/frames, then stitch them together to form panoramic photos, Camarada can record 3D, high-definition (1080p) movies that give the consumer a far more immersive experience than any other app, Aimfire said. “Camarada truly democratizes VR content creation for the masses. We believe the most powerful application of VR is preserving and reliving our true memories, and sharing them with our loved ones,” said Sofio. Camarada is free and available to download on Google Play and will be available soon in the Apple App Store. Aimfire was founded in 2014 and has four employees.

Police in Malaysia deployed with face-recognition cameras

Chinese security start-up Yitu Technology has expanded into Malaysia, with its wearable cameras being adopted by the Auxiliary Force, a unit of the country's police force that patrol ports and other public facilities. It is the first time Malaysian law enforcement officers have used such technology, which uses 95% accurate facial recognition and artificial intelligence to access a database of 1.8 billion people, identifying individuals within three seconds. The technology has already been deployed in 150 cities across 28 Chinese provinces.

https://asia.nikkei.com/Business/Companies/Chinas-startup-supplies-AI-backed-wearable-cameras-to-Malaysian-police

KUALA LUMPUR -- Chinese surveillance and security startup Yitu Technology has made its first foray into Malaysia, supplying wearable cameras with artificial intelligence-powered facial-recognition technology to a local law enforcement agency. The Shanghai-based company's devices have been in use since February by the Auxiliary Force, a unit of the Malaysian police that provides security at public facilities such as ports. The deal also marks the first use of such wearable devices by the country's law enforcement agencies.

Seat to release Leon in CNG, hybrid variants

Volkswagen Group-owned Seat has introduced compressed natural gas (CNG), mild hybrid and plug-in hybrid versions of its Leon model. The mild hybrid features a 48V starter-generator and lithium-ion battery, while the plug-in hybrid features a 13 kWh lithium-ion battery pack, and boasts the range's most powerful powertrain at 150 kW/204 PS. The CNG model has three tanks with a total capacity of 17.3 kg, and produces 96 kW/130 PS.

https://www.greencarcongress.com/2020/03/20200330-seat.html

The all-new SEAT Leon offers five different powertrain technologies: gasoline (TSI); diesel (TDI); mild-hybrid (eTSI); plug-in hybrid (eHybrid); and compressed natural gas (TGI). SEAT is a member of the Volkswagen Group. In total, there are eleven different mechanical variants, with power outputs ranging from 90 PS with the 1.0 TSI to 204 PS with the SEAT Leon eHybrid. The all-new SEAT Leon also offers different predefined drive modes—Eco, Normal, Comfort and Sport—to the driver. With the individual drive mode, the driver is able to adapt the car to personal needs, thanks to the new DCC slider. TSI engines. The fourth-generation Leon increases its efficiency with a range of advanced combustion engines. All gasoline engines offered by the new Leon are direct injection and turbocharged units, with power outputs between 90 and 190 PS. The two entry engines which produce 66kW/90PS and 81kW/110PS of power are 1.0 liter TSI three-cylinder units. The entry unit produces 90 PS of power at 5,500 rpm and a maximum torque of 175 N·m between 1,500 and 4,000 rpm. The most powerful version of the 1.0 TSI unit provides 110 PS of power at 5,500 rpm and a maximum torque of 200 N·m between 1,500 and 4,000 rpm. The two 1.0 TSI and also the 1.5 TSI 96kW/130PS engines with manual gearboxes use a Miller-cycle combustion process and variable geometry turbocharger. The Miller-cycle optimises valvetrain control with early closure of the inlets combined with a higher compression rate and turbocharging to better control the air-fuel mixture, to improve efficiency by up to 10%. Available with power outputs 96kW/130PS and 110kW/150PS, the larger 1.5 liter gasoline engines are linked to six-speed manual gearbox and feature integrated Active Cylinder Management which, in some driving conditions, works with only two cylinders to reduce the fuel consumption and maximise efficiency. The 1.5 TSI 130 PS powertrain has a consumption between 5.4 and 6.1 l/100km in WLTP, with CO 2 emissions among 122 and 137 g/km. In the case of the 1.5 TSI 150 PS version, the consumption scales up to 5.5 and 6.3 l/100km in (5.6 and 6.4 l/100km for the Sportstourer), with CO 2 emissions between 125 and 143 g/km (127 and 145 g/km in the case of the Sportstourer version); all values always in WLTP. At the top of the tree is the 140kW/190PS 2.0 liter TSI unit always linked to the seven-speed dual-clutch transmission. TDI Engines. Diesel remains an important technology in reducing carbon emissions, and the all-new Leon benefits from two diesel options: all 2.0 liter TDI units. The 5-door and the Sportstourer versions have a manual transmission for the 85kW/115PS, while the 110kW/150PS diesel engine is offered with either manual or DSG automatic transmission, delivering a maximum torque of 360 N·m at 1700-2750rpm. The Sportstourer is also available with a 110kW/150PS unit mated to a DSG gearbox and 4Drive system. Fuel consumption of this 2.0 TDI with a power output of 110kW/150PS is 4.3 – 5.0 l/100km for the 5-door body type and 4.5 – 5.1 l/100km for the Sportstourer (always in WLTP; which is translated with CO 2 Emissions in g/km of 114-132 and 117-133; respectively. The TDI units introduce a new twin dosing SCR system that includes dual AdBlue injection to reduce significantly NO x emissions compared to the Leon’s previous generation diesel engines. The result is a range of diesel engines that meet the strict requirement of the latest emissions standards. Two different hybrid options. The all-new SEAT Leon offers hybrid powertrains for the first time, in two variants: Mild-Hybrid (eTSI), and plug-in hybrid PHEV (eHybrid). The mild hybrid version (eTSI) system, which is available with the 1.0 TSI 81kW/110PS and the 1.5 liter 110kW/150PS gasoline unit, both exclusively in combination with the DSG transmission, mates 48V mild-hybrid technology to the combustion engine. The technology uses a 48V starter-generator and 48V lithium-ion battery, and efficiency gains obtained, in part, because the system allows the Leon to coast with the engine switched off during some driving scenarios, recover energy under braking and supporting the engine with some electric assistance. The SEAT Leon 1.5 TSI mHEV 150 PS offers a combined consumption between 5.6 and 6.4l/100km in WLTP, while CO 2 emissions are between 127 and 144 g/km. The fourth-generation Leon also includes an advanced plug-in hybrid variant, which is the most powerful powertrain of the range. Mating a 1.4 liter TSI gasoline engine electric motor, 13kWh lithium-ion battery pack and six-speed DSG transmission, the setup produces 150kW/204PS of power. The plug-in hybrid version also allows drivers to use electric-only mode, giving a range of up to 60 km (37 miles) (WLTP). The plug-in hybrid version will be offered on both the 5-door and Sportstourer versions. CNG. The all-new SEAT Leon also has the option of a CNG 1.5 liter TGI unit that produces 96kW/130PS of power. The all-new SEAT Leon will presented for the first time with a CNG 1.5 liter TGI unit that produces 96kW/130PS of power. The vehicle integrates three CNG tanks with a total net capacity of 17.3kg, giving the all-new SEAT Leon TGI a range of up to 440 km without needing to refuel. And if the CNG tanks do run dry, the engine switches automatically to run on gasoline until reaching the next CNG fuel station. Once there, it’s as simple to refuel as any other vehicle in the range.

Samsung facial recognition technology years away from release

Samsung's facial recognition tech is years away from being used for secure mobile payments, sources indicated. Facial recognition is more convenient than other biometric technology but can easily be fooled with a photograph. As such, it is unlikely that the Korean tech giant will have improved the service enough to use for payments within four years. Even then, it is unclear whether Samsung will choose to use it as other high-level biometric technology such as fingerprint and iris recognition is readily available.

http://bgr.com/2017/04/25/galaxy-s8-facial-recognition-mobile-payments/

Samsung’s new flagship Galaxy S8 is packed with interesting new features, but a few of them haven’t been received quite as well as the phone maker might have hoped they would be. One of those features is facial recognition, which is perhaps the easiest biometric authentication method to trick. Considering the security concerns surrounding facial recognition, you shouldn’t be surprised to learn that it will be quite some time before the feature is used for secure mobile payments. Samsung sources and industry watchers tell The Korea Herald that it could be more than four years before Samsung has improved the facial recognition technology enough to use it with mobile payments. Although it is more convenient than other biometric unlocks, it can still be fooled with a photograph. “In order for facial recognition to be solely used for financial transactions, it would take more than four years considering the current camera and deep learning technology levels,” a source from Samsung told The Korea Herald. But even when the technology is ready, it’s unclear if Samsung will use it. “We do not need to use facial recognition for mobile financial transactions because there are already high-level biometric technologies such as iris and fingerprint recognition,” a Samsung spokesperson told The Korea Herald. “The question that when it will be used is meaningless.” For now, fingerprint and iris scanners aren’t at risk of being replaced, but as the Herald notes, every phone has a camera while many still don’t come equipped with fingerprint scanners. Facial recognition has the potential to be far more convenient than fingerprint scanning could ever be, which is why there’s a chance that the technology could eventually become the new standard. “Facial and voice recognition will also be mainstream in the future alongside iris and fingerprint. But, it needs more than four to five years for facial recognition to be solely used for financial transactions,” said Jin Seung-heon, a chief of Electronics and Telecommunications Research Institute’s information protection research unit. “For the time being, they will be used as additional certification methods.”

Acorn Holdings raises $41.45m in Kenya's first green bond issue

Nairobi-based property developer Acorn Holdings issued Kenya's first green bond, raising $41.45m to build climate-resilient student accommodation in the capital. Stanbic Bank, which arranged the deal, announced that much of the interest came from domestic pension funds, commercial banks and insurance firms. The bond was priced at an interest rate of 12.25% with a B1 Global rating, according to Reuters, a level above the Kenyan government's B2 rating. Green bonds will help to protect Kenya's agricultural sector against catastrophic weather incidents, according to the Kenya Bankers Association, with the Green Bonds Programme designed to unlock the potential of green finance.

https://electrek.co/2019/10/07/kenyas-first-green-bond-raises-usd-41-million/

Kenya has gotten its very first green bond. Stanbic Bank in Kenya, who arranged the deal, announced the arrangement. It has raised $41.45 million (4.3 billion Kenyan shillings), according to the bank. The bond will be used to build climate-resilient student accommodation in Nairobi. Nairobi-based property developer Acorn Holdings issued the bond. In February, new rules were issued in Kenya to guide the green bond issuance. Bloomberg says: The notes are certified under the Climate Bonds Standard, which ensures the money genuinely contributes to reducing carbon emissions. Acorn’s offer follows the highest global issuance of sustainable bonds with $267 billion raised in the first nine months of 2019, exceeding last year’s total of nearly $260 billion. Kenya’s 31 universities can house only 25% of the nation’s students, forcing thousands others to seek alternative shelter, Acorn said, citing official data. Stanbic said the issue was looking to raise between 2 billion and 5 billion shillings. The bond is “well diversified with significant interest from Kenyan domestic pension funds, commercial banks, insurance and reinsurance companies and non-resident funds.” According to Reuters, “the bond was priced at an interest rate of 12.25% and rated B1 Global, a notch above the Kenyan government’s rating of B2.” Nuru Mugambi, a director at the Kenya Bankers Association, said that green bonds will help protect Kenya from the impact of extreme weather on the agriculture sector, which contributes about one-third of the annual GDP. She said: With the landmark legislation that zero-rates taxes on green bonds, we expect to see more issuance coming to market. According to Green Bonds Programme — Kenya, the objectives are: Researching the potential of green bond issuance in Kenya Developing a pipeline of green investments and engaging with local and international investors Supporting demonstration green bond issuance from leading banks and corporates Promoting green Islamic finance Developing a pool of Kenya-based licensed verifiers Development of a cooperative fixed income fundraising facility that would allow smaller banks and corporates to also take advantage of wholesale debt capital markets Leveraging the Kenya experience to catalyze similar programs across East Africa Community Electrek’s Take This is another great step forward for Kenya, who are already green energy leaders in the global movement. Kenyan president Uhuru Kenyatta announced in December 2018 that the country intends to be powered entirely by green energy by 2020 as it scales up renewable investment. This is an ambitious and laudable target. As of December 2018, 70% of the country’s installed electricity capacity came from renewable energy sources — more than three times the global average. Green energy could increase the population’s access to the national power grid, create jobs, and reduce manufacturing costs. The country was Africa’s first geothermal power producer. By 2020, according to USAID, it is expected that 70%-80% of the population will have access to on-grid electricity, compared to less than 46% in 2015. Further, 20% to 30% of the population will potentially receive access to off-grid electricity, primarily through solar, by 2020. Photo credit: Lake Turkana wind project

Analysis: Is electric technology set to kill off diesel tractors?

Fendt, Farmtrac and Multi Tool Trac unveiled their first electric models at last month's Agritechnica machinery show in Germany. John Deere revealed its latest concept model, the Sesam electric tractor. Electric tractors achieve up to 90% efficiency and greater controllability and opportunities for implement automation; e.g. seed planting with accuracy up to 1cm at 20kph. Three key limitations; cost, power and duration. For a 500hp tractor, a battery weighing 60t would be required using current technology.

https://www.fwi.co.uk/arable/analysis-electric-technology-set-kill-off-diesel-tractors

Car manufacturers are making great strides in electric drive technology and the death of diesel and petrol engines will be seen as early as 2019 for one major manufacturer. Volvo will no longer sell petrol or diesel vehicles and pressure is mounting on other brands as governments around the world have set target dates for phasing out combustion engines. Both the UK and French governments have set a target date of 2040 for phasing out fossil fuel engines, while Scotland is aiming for eight years earlier. See also: New storage technology offers farmers a battery alternative This revolution is happening in farming too, and for some types of farm vehicles, like loaders and mixer-feeder wagons, electric drive is already here. Soon there will be tractors, with three companies planning to sell electric models in the next two years. Fendt, Farmtrac and Multi Tool Trac unveiled their first electric models at last month’s Agritechnica machinery show in Germany and, not to be outdone, John Deere revealed its latest concept model – the Sesam electric tractor – earlier in the year at the Sima Show, near Paris. So why are tractor manufacturers looking to drop diesel grunt in favour of virtually silent electric drive and where do hybrid systems fit in? Why electric? According to Professor Peter Pickel, deputy director of John Deere’s European Technology Centre, the electrification of tractors offers three key advantages. First is increased efficiency. A diesel engine achieves about 35% efficiency in converting thermal to mechanical energy. Compare that with the overall efficiency of charging/discharging batteries at 80%, while electric motors have an efficiency of 90%. Second, he says electrical power offers greater controllability and opportunities for implement automation. One example is precision seeding. John Deere’s Exact Emerge system for single seed placing uses electric motors to place seeds within 1cm accuracy at a forward speed of 20kph. “This [accuracy] is not possible with either hydrostatic or mechanical drive. Therefore, electric power is an enabler of greater precision control of agricultural machines,” he says. Finally, electrification enables the use of renewable energy produced on farm, using wind, photovoltaic solar or biodigestion. In fact, Prof Pickel sees it as a complete system where the battery is removable and is part of the farm’s electricity grid, providing backup power when not being used on a tractor. This would bring battery utilisation up to 96%. Fully electric tractors So with these benefits, German manufacturer Fendt and India-based firm Escorts have just launched electric models. However, both are at the lower end of the horsepower range, with Fendt’s e100 Vario being the more powerful, offering 67hp. Fendt sees it as a practical, battery-powered tractor, more suited to livestock farmers, running for 1-2 hours at a time. “The battery can provide 4-5 hours of power when fully charged, and then during lunch, it can be supercharged before working for another spell in the afternoon.” Charging normally takes five hours, but there is a supercharge option that tops up 80% in 40 minutes. Next year, Fendt plans to sell a limited number of up to 20 units and learn from the experiences of these farmers. Vitezslav Chapavy, sales area manager in central Europe, reports that they are already getting interest. He sees them initially having a role in special circumstances such as inner city locations where there are strict emission controls, enclosed spaces like glasshouses and where noise is an issue. While it offers electrical power for implements, it will also have a standard pto to enable use of existing implements. For more power, John Deere’s concept Sesam tractor has two motors: one powers the wheels through a regular 24-speed power shift transmission and the second drives lubrication, hydraulics and pto. Continuous power to the wheels is 174hp, although when the motors are coupled together, the total output can peak at 500hp for very short periods. Limitations However, there are two key constraints with all-electric tractors, the first being cost. Mr Chapavy says that currently, the batteries effectively double the price, costing about the same as a normal tractor. That’s why it will appeal more to those with high-value crops like vineyards, where emissions are undesirable. While battery costs will come down as they are mass-produced for the car industry, the second limitation is power and duration. Fendt’s Wolfgang Breu, who developed the technology, has calculated that for a 500hp tractor, it would need a battery weighing 60t using current technology. That’s why he doesn’t see it in big tractors for some time. Hagen Adam, managing director at Austrian engineering firm AVL, says there is a greater probability that will see electrification in smaller tractors. “To achieve 200kw (268hp) power and beyond, I don’t see it being fully electric. For tractors in this power range, it will be a hybrid system.” Hybrid systems Hybrids consist of an engine powering a generator to drive electric motors on the wheels, or via a central transmission system, as well as providing high voltage power for implements. German engine-maker Deutz is developing hybrid drive systems for agricultural vehicles as part of its E-Deutz strategy. It recently acquired Torqeedo, a company that specialises in electric power systems in boats. Sales manager Marcel Ecken believes this offers the potential to downsize combustion engines further, thereby bringing down fuel consumption and operating costs to farmers. He says the first product is expected in about two years, which will be aimed initially at loaders used in the construction industry. Italian telehandler maker Merlo has also developed a hybrid drive concept, which it unveiled in 2013. It enabled the company to reduce the engine size to 76hp engine rather than the traditional 121hp engine used in that model. The company claims this system can reduce diesel consumption by as much as 30%. While the Merlo has not been commercialised, the Multi Tool Trac is to go on sale next year. The tractor is the result of seven Dutch farmers deciding that they wanted an entirely new tractor, custom-made to match their needs. It consists of a diesel engine, generator and battery and is both driven and steered electrically. Each wheel has a motor and is highly manoeuvrable, being able to steer with two or four wheels, and even has crab steer. The battery offers a power boost enabling the use of a smaller engine. A 210hp diesel engine provides power, with the hybrid system generating 240hp at the wheels. Director Paulus van Ham believes future improvements in battery technology could see the engine come down to 160hp, while delivering the same power at the wheels. Opting for a biogas engine will further improve green credentials, especially if the energy is generated on farm, he says. However, for heavy loads, Prof Pickel believes tractors will need a central transmission system to get power over the needed speed range. “Sprayer and harvesters can have individual wheel drive.” Looking forward In conclusion, it is clear that full electric drive offers farmers many benefits and this will lead to the technology appearing in some smaller tractors. For larger arable tractors, it is likely to be in the form of a hybrid system, thereby giving combustion engines a reprieve. However, engines will be smaller and one example is the Merlo concept telehandler, which required 40% less horsepower. New Holland New Holland has taken a different approach to reducing emissions with its methane tractor, which has mechanical drive. First unveiled at the US Farm Progress show, this second-generation prototype model costs 30% less to run than a diesel equivalent and offers an 80% overall reduction in emissions. Its environmental credentials are further improved when fuelled by biomethane produced from crop residues and waste from energy crops. According to New Holland, this results in virtually zero carbon dioxide emissions. The prototype is based on a New Holland T6 and produces up to 180hp, matching its diesel-fuelled equivalent. Electric drive benefits Zero emissions Less noise Fewer wearing components Consumes no energy when standing idle on a field headland Greater opportunities to control wheels individually Greater flexibility to vary pto speed independent of driving speed New, existing and concept stage electric tractors Multi Tool Trac Fendt Vario e100 Merlo’s hybrid concept telehandler Farmtrac’s first electric model New Holland’s methane tractor John Deere Sesam

Burford acquires stake in litigation boutique

Burford Capital has acquired 32% of PCB Litigation. The seven-partner dispute resolution company has changed its ownership structure to facilitate the deal to exchange a minority stake in the firm for access to funding for its book of litigation cases. The landmark deal will “take the legal industry a step closer to conventional financial structures,” Burford CEO Christopher Bogart said.

https://www.globallegalpost.com/big-stories/burford-capital-signs-equity-deal-with-london-litigation-boutique-16750229/

PCB Litigation hands litigation funder 32% stake in business in exchange for litigation portfolio financing in 'market first' London-based dispute resolution firm PCB Litigation has agreed to give Burford Capital a minority stake in its business in exchange for access to capital to fund a portfolio of litigation cases. The agreement will give Burford a 32% equity holding in seven-partner PCB, which has changed its ownership structure to become an alternative business structure (ABS) in order to secure regulatory approval for the deal. The deal is believed to be a market first, paving the way for similar funding deals between law firms and litigation funders. PCB managing partner Anthony Riem said: “Burford develops innovative funding solutions for those in litigation or arbitration, which marries well with the legal services we offer clients, particularly in fraud and asset recovery, insolvency and dispute resolution. Together with the capital that Burford can deploy in cases, we expect this to fuel the firm’s continued growth.” Market watchers are expecting to see a pick-up in litigation in the coming months as companies that put disputes on hold amid the coronavirus pandemic seek to reboot them, in part driven by the growing availability of litigation finance. Riem added: “Access to justice is of more importance now than ever given the additional financial challenges that parties may face in bringing claims. With our established track record in formulating and implementing creative legal solutions for clients to win cases and recover assets, and Burford’s long standing history of successfully funding meritorious claims, we will together offer products to clients that enable them to monetise their claims or share in the risk of recovery.” Christopher Bogart, CEO of Burford, added: “This structure continues Burford’s history of innovation and takes the legal industry a step closer to conventional financial structures. In many other industries, it would be entirely common for a financing provider to take warrants or equity as part of a financing transaction, and Burford and PCB have figured out how to adapt such a structure to the particular needs of the legal industry. We believe that this is another first in the market.” PCB, which founded in 1979, has built up a strong following in emerging markets, particularly with Russian clients using litigation funding. It recently acted for the wife in the case of Akhmedova v. Akhmedov, in which Mrs Justice Knowles provided guidance and approval on the use of such funding in England and Wales. Its founder, Stephen Phillippsohn, left the firm in November last year, to become head of international fraud litigation at Asserson, which serves the UK international legal market from headquarters in Tel Aviv. In April, Burford brushed off a 15% fall in income in 2019 with the claim it had a ‘spectacular year’ in terms of growing its business and generating free cash. The following month, it conceded defeat in an unprecedented battle with the London Stock Exchange (LSE) after the High Court rejected its application for the LSE to hand over confidential trading information as part of dispute with hedge fund Muddy Waters.

Formula One's Chinese Grand Prix postponed among big events postponed due to Covid-19

The fourth round of the F1 Championship that was due take place in Shanghai between 17 and 19 April has been postponed due to the coronavirus outbreak. Numerous other sporting event cancelled, postponed or moved due to the virus include; the Hong Kong Marathon, the FIS skiing world cup in Yanqing, and various athletics, golf, football, tennis, boxing, snooker and basketball tournaments. 

https://news.sky.com/story/coronavirus-formula-ones-chinese-grand-prix-postponed-11932209

Formula One's Chinese Grand Prix has been postponed due to coronavirus, organisers say. The fourth round of the F1 Championship in Shanghai on 19 April is the latest sporting event in China to be cancelled or delayed. The virus, now named COVID-19, has killed more than 1,100 people in China. Race organisers said while the Chinese Grand Prix is "an important part of the F1 calendar with many passionate fans", they have decided it can no longer go ahead as planned. F1's governing body, the Federation Internationale de l'Automobile (FIA), said it had accepted a request from the promoter of the Chinese race to postpone the event. In a statement, the FIA said: "As a result of continued health concerns and with the World Health Organisation declaring the coronavirus as a global health emergency, the FIA and Formula 1 have taken these measures in order to ensure the health and safety of the travelling staff, championship participants and fans, which remains of primary concern." The FIA said it would continue to work closely with all those involved in staging the race and to monitor the situation as it develops. :: Listen to the Daily podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker It added: "All parties will take the appropriate amount of time to study the viability of potential alternative dates for the Grand Prix later in the year should the situation improve. Advertisement "The Chinese Grand Prix has long been an important part of the F1 calendar with many passionate fans. The FIA F1 community looks forward to racing in China as soon as possible and wishes everyone in the country the best during this difficult time." The decision means there will be no race in the F1 calendar between the Grand Prix in Vietnam on 5 April and the Netherlands race on 3 May. There have now been more than 44,000 cases worldwide of the new coronavirus strain, which the World Health Organisation has officially named COVID-19 - CO for corona, VI for virus, D for disease and 19 for the year it emerged. The last F1 race to be postponed was in 2011, when the Bahrain Grand Prix was affected by the Arab Spring uprisings. The Mobile World Congress - the biggest annual get-together in the telecoms industry - has also been cancelled due to the outbreak. Organiser GSMA announced the move on Wednesday after major companies including BT, Vodafone and Nokia said they were pulling out. The conference had been due to take place in Barcelona later this month. It typically draws more than 100,000 visitors to the city. GSMA said: "The global concern regarding the coronavirus outbreak, travel concern and other circumstances, make it impossible for GSMA to hold the event." Which other sporting events have been called off, postponed or moved due to coronavirus? Athletics: The World Athletics Indoor Championships from 13-15 March in Nanjing, China, has been postponed until 2021 The Hong Kong Marathon which was due to take place on 8 February has been cancelled Golf: The HSBC Women's World Championships was set for Singapore at the end of February, but has been called off The Honda LPGA Thailand, a women's professional gold tournament, in Pattaya, has been cancelled The Blue Bay LPGA, scheduled for the start of March on the southern Chinese island of Hainan, is now also not taking place Football: The Chinese Football Association has postponed domestic matches, with the Chinese Super League supposed to start on 22 February Asian Champions League fixtures involving Shanghai Shenhua and Shanghai SIPG have been rescheduled Sydney will now host an Asian Olympics women's qualifying tournament between Australia, China, Taiwan and Thailand, which had already been moved from Wuhan to Nanjing Tennis: The Fed Cup Asia/Oceania Group I event which was due to be held in Dongguan, China has been cancelled after Kazakhstan refused to host it Motor Sport: The Chinese Formula E Grand Prix in Sanya on 21 March has been cancelled Please use Chrome browser for a more accessible video player 2:15 Coronavirus: How many people are at risk? Boxing: Amman in Jordan is set to host the Asia and Oceania International Olympic Committee boxing qualifiers instead of Wuhan Snooker: The China Open in Beijing has been called off Skiing: The FIS World Cup in Yanqing, China, on 15-16 February has been cancelled Basketball: The Women's basketball Olympics qualifiers have been switched from Foshan in China to Belgrade, Serbia. :: Listen to the Daily podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker Hockey: India women's hockey tour of China has been cancelled The FIH Hockey Pro League matches between Australia and China, set to be played on March 14 and 15 in Chengdu, have been put on hold Badminton:

Who is Antonia Staats, and who's her husband?

Professor Neil Ferguson, 51, allowed Antonia Staats, 38, to visit him at home during the lockdown. While lecturing the public on the need for strict social distancing to halt the spread of the deadly virus. Professor Ferguson resigned from his Government position after he was caught breaking social distanced rules to meet his married lover.

https://www.thesun.co.uk/news/11559162/who-is-antonia-staats-husband/

A TOP coronavirus scientist whose advice led the UK into lockdown has resigned from his Government position after he was caught breaking social distancing rules to meet his married lover, campaigner Antonia Staats. Professor Neil Ferguson, 51, allowed Ms Staats to visit him at home during the lockdown while lecturing the public on the need for strict social distancing to halt the spread of the deadly virus. ⚠️ Read our coronavirus live blog for the latest news & updates 3 Professor Neil Ferguson, 51, allowed Antonia Staats, 38, to visit him at home at least twice during the lockdown Credit: Facebook Who is Antonia Staats? Ms Staats, 38, is a left-wing campaigner who works for US-based online network Avaaz. The organisation promotes global activism on issues such as climate change. She grew up in Isny, south Germany, went to university in Berlin and came to London in 2003. Ms Staats gained a masters in Asian politics from the School of Oriental and African Studies (SOAS) in London. Her name has hit the headlines this week because she visited Prof Ferguson at least twice during lockdown - even though it was his advice that led to the wide-ranging restrictions across the country. He broke social distancing rules to meet his married lover, the Telegraph reported. The academic allowed the woman to visit him at home during the lockdown while lecturing the public on the need for strict social distancing in order to reduce the spread of coronavirus. Prof Ferguson leads the team at Imperial College London that produced the computer-modelled research which led to the lockdown. 3 Professor Neil Ferguson has resigned from his government advisory position after breaking lockdown rules The stats claimed that more than 500,000 Britons would die without the measures. Prof Ferguson has frequently appeared in the media to support the lockdown and praised the "very intensive social distancing" measures. Despite this, he allowed Ms Staats to come to his home in March and April. The first of her visits, on Monday March 30, coincided with a public warning by Prof Ferguson that the one-week-old lockdown measures would have to remain until June. She made a second visit on April 8 despite telling friends she suspected that her husband, an academic in his 30s, had symptoms of coronavirus. Prof Ferguson has now resigned from his Government advisory position. The Prime Minister said in early May the UK has passed the peak of the virus Is she married and does she have children? Ms Staats is married to an academic in his 30s who works at SOAS. She lives with him and their two children at a £1.9million home. The couple are understood to be in an open marriage. She gave an interview to a podcast in late March, when she said lockdown presented an "interesting relationship challenge". During the interview, she said "I think it's also a strain on – maybe strained has sounded too negative – but it's an interesting relationship challenge, for [her husband] and my relationship." 3 Ms Staats works for US-based global campaign group Avaaz What does she do at Avaaz? Avaaz, once called "the globe's largest and most powerful online activist network" by the Guardian, is based in America and launched in 2007. It promotes global activism on issues such as climate change, human rights, animal rights, corruption, poverty and conflict. Ms Staats works as a senior campaigner for the group. Researchers and campaigners for Avaaz drive investigations, strategy development and content production. Previously, Ms Staats has taken to social media to find young Londoners who were unhappy with the EU referendum. Her greatest victory for the group occurred in 2018, when she organised a petition seeking to ban the use of insecticide neonicotinoids because of its effect on bees. Her petition attracted more than five million signatures and led to the EU banning use of the substance. In early April 2020, she backed a campaign calling on governments around the world to suspend rent and mortgage payments in order to "help citizens weather the corona lockdown". CORONAVIRUS CRISIS - STAY IN THE KNOW Don't miss the latest news and figures - and essential advice for you and your family. To receive The Sun's Coronavirus newsletter in your inbox every tea time, sign up here. To follow us on Facebook, simply 'Like' our Coronavirus page. Get Britain's best-selling newspaper delivered to your smartphone or tablet each day - find out more. We pay for your stories! Do you have a story for The Sun Online news team? Email us at [email protected] or call 0207 782 4368 . You can WhatsApp us on 07810 791 502. We pay for videos too. Click here to upload yours.

Findel Findel posts 11% growth in product sales

Findel has revealed 11% growth in product sales at its retail business in the 42 weeks to 19 January. Meanwhile, online orders at its Studio brand averaged 72% during Q3 ending on that date, up from 65% in the previous year, the company said. Its primetime TV and online marketing strategy helped boost active customer numbers to 1.8 million at the end of December, up 15% on 2016. Findel added it remained "on track" to deliver full-year trading performance in line with market expectations forecasting growth in sales and profit.

https://www.drapersonline.com/news/findel-posts-sales-growth/7028754.article

It said online orders at its Studio brand averaged 72% during its third quarter ending 19 January, up on 65% in the previous year. Its active customer base, which is measured at the end of each calendar year, tallied 1.8 million at 31 December, up 15% on the previous year. This was boosted by its primetime television and online marketing strategy. Group net debt in the year to 31 December 2017 stood at £76.7m, down by 6.2% on last year. The group said: “While early trading in the traditionally quiet month of January has been slightly slower than anticipated, the further strengthening of our online value retail proposition leaves us well-placed against the current consumer backdrop.” It added that it remains “on track” to deliver a full-year trading performance in line with market expectations predicting sales and profit growth. Advertisement The group has also appointed former EY partner Elaine O’Donnell as a non-executive director, who will join the board on 1 February. She will chair the audit committee when Findel’s 2018 AGM concludes, after senior non-executive director Eric Tracey steps down from the board. Last year Findel chief executive Phil Maudsley told Drapers the business is aggressively exploring opportunities to expand its third-party clothing and footwear partnerships. It stocks brands including Nike, Lipsy, Superdry and Skechers.

Next Insurance offers general contractor cover online

Next Insurance launched a general contractor insurance policy with an online focus. The digital insurance carrier specialises in small businesses and individuals and aims for its latest offering to make them their go-to provider. It will offer three coverage plans starting at $62.50 a month. Each will have general liability coverage dealing with injuries, property damage and defamation, libel and slander claims, while the Pro and Pro Plus options also provide professional liability insurance coverage. Next Insurance said its technology is helping to remove complications that previously came with general contractor insurance because of the inconsistencies with different subcontractors.

https://www.benzinga.com/pressreleases/18/10/r12601245/next-insurance-launches-industrys-first-general-contractor-insurance-a

PALO ALTO, California, October 31, 2018 /PRNewswire/ -- Next Insurance, the leading digital insurance carrier for small businesses, today announced the launch of a new general contractor insurance policy. Next Insurance is the first national carrier to offer general and professional liability insurance for general contractors entirely online. The addition of general contractor policies to the company's offerings reflects the Next Insurance vision to become the single, comprehensive insurance provider for small businesses and entrepreneurs. While demand for general contractor insurance coverage is high, it has historically been challenging to underwrite due to the variety of subcontractors employed by general contractors. With market leading ingenuity and technology, Next Insurance has successfully overcome this challenge, and is currently fulfilling the overwhelming demand for general contractor insurance with policies that are simple, affordable, and tailored to the specific needs of these professionals. "Insuring general contractors was our priority from our inception, and we were determined to overcome the challenges of underwriting this very important profession," said Sofya Pogreb, COO of Next Insurance. "Construction is a complicated business, but insurance should not be, which is why this launch is so significant. We are thrilled to be the first insurance company to offer general contractor insurance entirely online and at affordable prices." Next Insurance now offers three coverage plans for general contractor insurance starting at $62.50 per month: Basic, Pro, and Pro Plus. All plans include general liability coverage, which includes bodily injury, property damage, and libel, slander, and defamation claims. Pro and Pro Plus plans also include professional liability insurance coverage. Plans offer varying limits and low deductibles. The launch of general contractor insurance comes on the heels of the recent launch of Next Insurance's commercial automotive insurance rollout. In July, Next Insurance raised $83 million in a Series B funding round, bringing its total funding to $131 million in two years. In May 2018, Next Insurance announced its shift towards becoming a national insurance carrier. As a carrier, Next Insurance is now writing policies independently, with far more freedom over underwriting, setting prices, and configuring policies. About Next Insurance: Next Insurance is transforming small business insurance with simple, affordable coverage, tailored to the needs of each class of business. Next Insurance offers policies that are easy to buy with instant, 24/7, online access to certificates of insurance and the revolutionary, new Live Certificate, additional insured, and more with absolutely no extra fees. Revolutionizing traditional insurance processes, Next Insurance is utilizing advanced technology to offer the industry's most innovative small business insurance policies. Founded in 2016 by a team of serial entrepreneurs, the company is headquartered in Palo Alto and has received a total of $131 million in venture capital funding from Redpoint Ventures, Nationwide, Munich Re, Markel, American Express Ventures, Ribbit Capital, TLV Partners, SGVC, Global Founders Capital and Zeev Ventures. For more information, see how Next Insurance performed in the first half of 2018, and learn more about Next Insurance becoming a carrier. For more information about the company, visit https://www.next-insurance.com/. Contact Information: Brandon Weinstock Headline Media [email protected] +1-914-336-3878 SOURCE Next Insurance

CarKey Privacy Policy Detailed in iOS 13.5.1, Suggesting Launch Could Come Soon

Apple has a privacy policy for the CarKey feature in its iOS 13.5.1 update. CarKey is designed to allow an iPhone or Apple Watch to be used in lieu of a physical key in certain vehicles with NFC connectivity. There's no word yet on when ‌CarKey; will be released, but quite a bit of info about the feature has leaked.

https://www.macrumors.com/2020/06/15/carkey-privacy-policy-ios-13-5-1/

Buried in the iOS 13.5.1 update, there's a privacy policy for the "CarKey" feature that Apple has in the works, suggesting that a launch could perhaps be coming soon. CarKey is designed to allow an iPhone or Apple Watch to be used in lieu of a physical key in certain vehicles with NFC connectivity. First noticed by German site iPhone-ticker.de, the CarKey privacy info can be found in the current iOS 13.5.1 release and the iOS 13.6 beta. There's no word yet on when CarKey will be released, but quite a bit of info about the feature has leaked over the course of the last few months as signs of it have shown up in various versions of iOS 13. There's not a lot of new info about CarKey in the privacy policy, but it does sum up how CarKey works, setup, and the sharing of CarKey keys through Messages. It makes it clear that Apple does not collect or retain information on vehicle usage, though the vehicle manufacturer still may collect vehicle usage information based on their own privacy policies. Wallet allows you to add and share car keys for certain vehicles. You may add a car key by signing in to your vehicle manufacturer's app or entering a pairing code in Wallet to claim the vehicle as your own and to pair your device with your vehicle. If successful, your device sends Apple a one-time owner redemption token. Apple uses the redemption token, information about your Apple account and your device, and your location at the time of provisioning (if Location Services is enabled) for fraud prevention purposes. To set up your car key, Apple shares a unique device identifier with your vehicle manufacturer. This device identifier is different for each vehicle manufacturer to help protect your privacy. Your vehicle manufacturer may connect this device identifier with other information it has about you and will process information it has about you according to its privacy policy. You may share car keys by tapping Invite on the back of your car key pass, selecting the access type that you would like to grant, and sharing the car key pass using iMessage. To help set up and manage car key passes, Apple forwards to the vehicle manufacturer information about with whom a pass is shared and what level of access was granted. Apple also shares a unique device identifier for the pass recipient with the vehicle manufacturer to enable them to manage your pass. For pass recipients, just as with owners, the vehicle manufacturer may connect the device identifier with other information it may have about the recipient and process such information according to its privacy policy. Apple does not collect or retain information on vehicle usage, such as when you use your car key pass to lock or unlock the vehicle. Your vehicle manufacturer may collect vehicle usage information according to agreements you have with them. We encourage you to review your vehicle manufacturer's privacy policy for more information. Digital CarKey keys will be stored in the Wallet app alongside credit cards, rewards cards, gift cards, and other items on ‌iPhone‌ and Apple Watch. These keys will let an ‌iPhone‌ or Apple Watch unlock, lock, and start vehicles equipped with NFC. Vehicle owners will be able to share a digital CarKey with another person, which is useful in valet situations, if a friend needs to borrow a car, and more. CarKey access is authenticated biometrically using Face ID or Touch ID, though there is an "Express Mode" that vehicle owners can take advantage of. Apple will be partnering with vehicle manufacturers for CarKey, and it may be a factory installed option similar to CarPlay. CarKey requires NFC to function, so it is something that needs to be implemented by car makers. Screenshots found in iOS 14 have suggested that BMW may be one of the first manufacturers that will support the CarKey feature. CarKey functionality could be released at any time as the NFC-based Digital Key Release specification that powers it was finalized in May and provided to Car Connectivity Consortium members including Apple. CarKey screenshots Given that CarKey is a major feature and iOS 14 is on the horizon and set to be unveiled next week, CarKey could perhaps be included in the iOS 14 update.

Israeli Covid-19 fast-result diagnostic kits in production

A diagnostic kit that can detect coronavirus infection from saliva samples within 50 minutes is currently in production and ramping up, according to Dr. Zvi Marom, CEO of Israeli company BATM. BATM is working with academic and research institutions, mainly in Europe, to make the kit available at a price point suitable for large-scale production.

https://www.israel21c.org/israeli-rapid-covid-19-lab-diagnostic-kits-in-production/

A diagnostic kit that can detect coronavirus infection from saliva samples within 50 minutes is currently “in production and ramping up,” according to Dr. Zvi Marom, CEO of Israeli company BATM. In our previous report on the kit’s development, Marom explained that the BATM test is compatible with equipment used to do RT-PCR, the current hospital-based method for diagnosing Covid-19 in a matter of hours. “Obviously we are pretty overwhelmed [with requests] but I believe in a few weeks we will be able to ship our kit to almost everybody that wants it,” Marom said today (March 19). He said BATM is working with academic and research institutions, mainly in Europe, to make the kit available at a price point suitable for large-scale production. Meanwhile, Marom tells ISRAEL21c that BATM is also developing a home diagnostic kit for Covid-19. “We came to the conclusion that we need to bring something to the table that helps the general population,” he says. That’s because few Covid-19 patients – mainly the elderly and those with underlying diseases — actually need hospitalization. “So we want to give you the ability to test yourself at home, and if you are healthy and young you can just recover at home and call a doctor if you feel really bad,” says Marom, who is a physician. He hopes the home Covid-19 test will be ready for mass production within the next three to four months. Even if the current epidemic has passed by then, he says, coronavirus is likely “to come to visit us again in the future many times” and the kits will allow people to test themselves at home. “The combination of a very accurate laboratory test plus a home kit is a pretty good starting approach to see what’s going on,” says Marom. “We are also checking research that suggests it may be possible to differentiate, among people already infected, who will get seriously sick and who will be in better condition. If it’s true, a lot of things that can be done in hospitals and in treatment. This we will know only in a few days.”

Frozen Foods steady rise over the last year

The Kantar figures “covering the 52 weeks from June 16, 2019 go June 14, 2020” report that overall sales of frozen foods in the UK increased by 6.1% and the amount of food sold increased by 5.4% to £6.7bn. The Kantar figures also report increases in sales and volume for frozen vegetables (9.4%), frozen pizza (9.5%) and frozen fish (8.8%).

https://www.frozenfoodeurope.com/frozen-sales-continue-to-surge-in-the-uk/

Sales of frozen food increased by GBP285m in the last three months, statistics from Kantar and the British Frozen Food Federation (BFFF) show. The growth in sales is currently double the one experienced in the previous 12-week period to March 22. Frozen sales increased in value by 19.4% and volume was up 17.5% in the period from the end of March to June 14. In the previous 12-week period the value growth was 9.7% and volume 9.3%. The recent 12-week data also shows the sector outperformed the total grocery market as well as fresh and chilled food sales in both value and volume, revealing frozen food is becoming increasingly popular with shoppers. In addition to the recent boost, the Kantar figures also reveal that long-term frozen sales are increasing. Data covering the 52 weeks from June 16, 2019 to June 14, 2020 shows that sales of frozen food reached GBP6.7bn, an increase in value of 6.1%, and that volume grew to 5.4%. In comparison sales of fresh and chilled food increased in value by 5%. The Kantar figures show six out of nine categories of frozen food have seen a sales and volume increase over the last year, with frozen veg up 9.4% in volume and frozen pizza up 9.5% in volume. Ice cream and frozen fish sales also performed impressively, up in value by 8.9% and 8.8% respectively. Only confectionery, meat & poultry, and frozen ready meals saw small declines over 52 weeks. These findings are supported by recently released research commissioned by BFFF members Iceland and Birds Eye. The study shows ‘value for money’ is just one of the reasons people will continue to fill their freezers post-coronavirus. The study included insights into how buying habits have changed, with Generation Z driving sales through a newly-discovered appreciation of the benefits of frozen. The surge in sales follows a trend first reported by BFFF in April, when data revealed that in the four weeks from February 23 to March 22, British shoppers spent an extra GBP131m on everything, from ice cream to frozen meat and poultry, as they filled up their freezers before the lockdown began on March 23. “We now know more consumers than ever have been shopping in the frozen aisle since mid-March. This is hardly surprising, given the long shelf-life, reduced food waste, value for money and variety of food on offer there,” Richard Harrow, BFFF chief executive said. “Individual retailers have reported a huge surge in frozen sales during lockdown. What’s really encouraging is that quality and innovation is attracting new younger consumers to the category as well as exciting our traditional shoppers. We are seeing lots of shoppers visiting our website for information on how to defrost, how long to keep frozen food and to find out if they can refreeze food that’s been defrosted. There are also plenty of people seeking inspiration from the recipe section. This all points to ongoing success for the frozen sector.”

Biofertiliser meta-analysis shows most effective in dry climates

A comprehensive meta-analysis into the technology of biofertilisers for sustainable farming took data from 171 studies and found that dryland agriculture could benefit the most from the technology. Biofertilisers greatly improved phosphorus use efficiency and nitrogen use efficiency. Biofertilisers containing both N fixing and P solubilising traits were found to have the highest chance of improvind crop yields. With climate change leading to more dryland areas in the future, biofertilisers are a promising option for sustainable agriculture.

https://www.frontiersin.org/articles/10.3389/fpls.2017.02204/full

The application of microbial inoculants (biofertilizers) is a promising technology for future sustainable farming systems in view of rapidly decreasing phosphorus stocks and the need to more efficiently use available nitrogen (N). Various microbial taxa are currently used as biofertilizers, based on their capacity to access nutrients from fertilizers and soil stocks, to fix atmospheric nitrogen, to improve water uptake or to act as biocontrol agents. Despite the existence of a considerable knowledge on effects of specific taxa of biofertilizers, a comprehensive quantitative assessment of the performance of biofertilizers with different traits such as phosphorus solubilization and N fixation applied to various crops at a global scale is missing. We conducted a meta-analysis to quantify benefits of biofertilizers in terms of yield increase, nitrogen and phosphorus use efficiency, based on 171 peer reviewed publications that met eligibility criteria. Major findings are: (i) the superiority of biofertilizer performance in dry climates over other climatic regions (yield response: dry climate +20.0 ± 1.7%, tropical climate +14.9 ± 1.2%, oceanic climate +10.0 ± 3.7%, continental climate +8.5 ± 2.4%); (ii) meta-regression analyses revealed that yield response due to biofertilizer application was generally small at low soil P levels; efficacy increased along higher soil P levels in the order arbuscular mycorrhizal fungi (AMF), P solubilizers, and N fixers; (iii) meta-regressions showed that the success of inoculation with AMF was greater at low organic matter content and at neutral pH. Our comprehensive analysis provides a basis and guidance for proper choice and application of biofertilizers. Introduction The current alarming rate of decline of earth's natural resources, particularly of the reserves of rock phosphate and fossil fuel, is of great concern for the future of agriculture, particularly in developing countries (St.Clair and Lynch, 2010). Not surprisingly, sustainable crop production remains a major global challenge and has drawn increasing attention among policy makers, business, and the scientific community (Seufert et al., 2012; Wezel et al., 2014). Efforts to mitigate the declining mineral nutrient reserves are currently major topics of research but the perturbance of the global biogeochemical cycles, mainly driven by the use of mineral fertilizers, remains a serious problem (Kahiluoto et al., 2014). Microbial inoculants, so-called biofertilizers, are a promising technology to reduce the use of conventional inorganic fertilizers. Many of them can serve as biofertilizers as they are able to fix nitrogen (N), help to access nutrients such as phosphorus (P) and N from organic fertilizers and soil stocks, improve drought tolerance, improve plant health or increase salt tolerance (Vessey, 2003; Arora, 2013). The effects of biofertilizer applications have often been inconsistent, hindering their widespread adoption by farmers. The reasons can be manifold, such as soil conditions, strain identity, or host genotype. Yet, the long history of research offers a great reservoir to identify key influencing factors. Numerous reviews on microbial inoculants have been published, but quantitative results are scarce. For example, McGonigle (1988), Lekberg and Koide (2005), and Berruti et al. (2016) analyzed the potential of AMF (arbuscular mycorrhizal fungi) as biofertilizers. Rubin et al. (2017) studied the influence of PGPR (plant growth-promoting rhizobacteria) especially under drought conditions. Nevertheless, what is missing is a comprehensive quantitative analysis over all biofertilizers and across all target crops and climatic conditions at global scale. Here, we conducted a quantitative evaluation of the pertinent literature in the form of a meta-analysis. Its objective was to quantify the effect of biofertilizers on the performance indicators crop yield and P and N nutrient use efficiencies. The following hypotheses were addressed: (i) across all studies, biofertilizer show a significant positive effect on crop yield and nutrient use efficiency; (ii) there is a difference in biofertilizer response between categories of crops; (iii) climate is a major factor for the constituency of soil biodiversity, soil fertility and soil carbon content, and thus the performance of biofertilizers; (iv) P availability is a limiting factor in many soils. P levels are expected to influence activity and thus effectivity of biofertilizers. Especially phosphate-solubilizing bacteria and AMF are expected to be affected by P levels. Materials and Methods Search Strategy Peer reviewed publications (and the reference lists from these publications) were searched for between May 2015 and February 2016 in Web of Science by Thomson Reuter, Scopus by Elsevier and Google Scholar with the following keywords “biofertilizer OR biofertiliser OR microbial inoculants.” Only studies using data from field trials to more closely reflect real farming practices and providing separate data for each treatment and written in English language were selected. Studies were only included when they had conducted pairwise comparison between the application of a biofertilizer to a non-treated control under the same pedo-climatic conditions (e.g., temperature, precipitation, soil texture, and type), and if the biofertilizers had been tested under the same input level of inorganic and organic fertilizers as the paired non-inoculated control. Studies had to report the treatment mean of yields, its standard deviation (SD) and number of replications (n) to calculate the different use efficiencies and effect sizes. When fertilizer was applied the amount and type of fertilizer was required to calculate nutrient-use efficiencies for phosphorus (P) and nitrogen (N). Field trials were not included when soils were previously fumigated or heat sterilized to obtain a control without soil biota, because nutrients may be released, soil microbial community disturbed and inoculation success put at risk (Smith and Read, 2008a). If data were missing or only supplied in summarized format, authors were contacted to obtain these data. A total of 633 possible studies were identified, 222 were excluded after a first screening for greenhouse studies (except three studies with tomato grown under commercial conditions) and reviews and again 240 because they did not match eligibility criteria mentioned above (see flow diagram in Figure S1). Data Sources One hundred and seventy-one studies (see study list in Supplementary Data Sheet S1) proved to be eligible for our meta-analysis enabling us to generate 1,726 pairwise comparisons. Data Preparation and Descriptive Statistics All data was extracted and compiled in an excel file. If the data were only available in graph format, Plot Digitizer Version 2.6.6 (http://plotdigitizer.sourceforge.net) was used. The data was structured after biofertilizers, crops and climate. Tables 1 and 4 summarize the characteristics of crop and climate categories for the number of included studies, amount of fertilizer applied and climate representation. pH was usually given as measured in water. If pH was measured in CaCl 2 , conversion was calculated (Land Resources Management Unit, Institute for Environment and Sustainability, 2010). If the method was missing it was assumed to be measured in water. Soil pH was later used as a control variable for meta-regression. TABLE 1 Table 1. Database as related to different crop categories, climatic zones and nutrient inputs. Bulk density was only available for 10 studies. For the others bulk density was estimated with the pedo-transfer function (Post and Kwon, 2000). Bulk density was necessary to convert soil available P from mg/kg to kg/ha. Soil available phosphorus was calculated to a depth of 30 cm. Soil available phosphorus was measured mostly with the method by Olsen, but also with Bray, Mehlich, and AB DTPA. Yet in many cases the method was not given. Yli-halla (2016) state that usually there is a rough agreement between the results obtained with different extraction methods in non-calcareous soils, but in calcareous soils the results of acidic and basic extractants usually have a poor correlation. Hence the values of soil available phosphorus cannot be seen as absolute values but only as an indicator for the real values. Soil available phosphorus was calculated to provide another perspective on phosphorus other than P use efficiency (PUE). Since no formula exists to account for available phosphorus from soil and fertilizer we conducted a meta-regression with the sum of soil available P and fertilizer P. Thus, for a comprehensive picture, we provide three different analyses of functional biofertilizer categories to P. Meta-analysis A random-effects model was chosen as the statistical model for the meta-analysis (Viechtbauer, 2010b). In a meta-analysis, ideally, independent estimates should be aggregated (Borenstein et al., 2009), but in reality, and also in this meta-analysis this cannot be fully assured. Independence is violated in the cases, where several treatments are compared to the same control. It is likely also violated for the cases where study results over several years from the same comparison plots were not averaged but included separately in the meta-analysis. In both cases, we retained all data because the aim of the meta-analysis was to include as much information as possible. For the second case, N use efficiency (NUE) and P use efficiency (PUE) likely depend strongly on the annually different climate conditions, thus rather mitigating dependence. If values were supplied as an average over years, replicate numbers of each year were multiplied by the number of years. The random-effects model assumes that the single effect size depends on the study context and that studies differ in their methods and sample characteristics. As a result, there are different effect sizes among all studies. Since the true effect size and its variance are not known the restricted maximum-likelihood estimator (REML) was used (Viechtbauer, 2010b). Outliers were identified via DFBETAS values inside the R package “metafor” (Viechtbauer, 2010a). Effect Sizes and Their Modeling Effect sizes indicate the magnitude of the effect of the improved practice over the control practice concerning yield responses and nutrient use efficiency (Borenstein et al., 2009). In this study, the percent increase in dry matter yields was used for comparing yields and raw mean difference was used as effect size measure for PUE and NUE, calculated as the log transformed ratio of the mean. Performance Indicators In this study, we evaluated quantitatively the effects of all categories of biofertilizers on crop yield, PUE and NUE, with a main focus on relative crop yield. Key characteristics of the studies can be found in the Supplementary Data Sheet S2. Yield is defined as harvested dry main product, in form of grains, fruits, tubers or shoots. Dry weight had to be calculated for most studies. If the water content was not available, values were taken from Church and Bowes (Church and Bowes, 1966). PUE was calculated as the yield increase of dry main product per unit of P fertilizer input, and NUE accordingly as the yield increase per unit N fertilizer input referring to the agronomic efficiency of P and N, respectively (Ladha et al., 2005). The following formulae were used: Y i e l d r e s p o n s e ( % ) = Y i e l d i n o c u l a t e d × 100 Y i e l d n o n - i n o c u l a t e d ( 1 ) Δ P U E = Y i e l d ( k g h a - 1 ) F e r t i l i z e r P ( k g h a - 1 ) i n o c u l a t e d - Y i e l d ( k g h a - 1 ) F e r t i l i z e r P ( k g h a - 1 ) n o n - i n o c u l a t e d ( 2 ) Δ N U E = Y i e l d ( k g h a - 1 ) F e r t i l i z e r N ( k g h a - 1 ) i n o c u l a t e d - Y i e l d ( k g h a - 1 ) F e r t i l i z e r N ( k g h a - 1 ) n o n - i n o c u l a t e d ( 3 ) Given the lack of data for estimating or modeling these additional N sources and P, the chosen approach to calculate PUE and NUE is most adequate. Nevertheless, it may lead to different effects regarding soils and nutrient loss to the environment. In case higher PUE or NUE are observed with biofertilizers with identical P and N fertilizer inputs, the biofertilizer must have resulted either in more efficient uptake of those inputs, or in making additional inputs from the soil pool available. In the first case, nutrient mining effects of soils is unlikely and potential runoff is reduced; in the second case, some nutrient mining may occur, if runoff is not reduced, e.g., if nutrients mobilized from the soil and taken up by the plant are replaced in the soil by nutrients from the fertilizer input. With the available data, we cannot discern these two cases. We report yield response in percent thereby neglecting the actual values and their size. Percentage values are necessary to normalize the yields. But percentage values are insensitive to whether the yields are already at a maximum or whether there are yield gaps in terms of other management techniques which pose a different potential to decrease or increase yields by the inoculated biofertilizers. The calculation follows the general methods used by Batten (1992). Due to lack of information on the soil types of the studies, which are crucial for the absorption of phosphorus, we believe that this method reflects PUE the best. NUE was calculated as yield of dry product by N fertilizer input. This calculation is widely used for studies in an agricultural context and referred to as agronomic nitrogen use efficiency (Yadav, 2003; Ahmad et al., 2009; Zhang et al., 2016). Yet it is criticized because it does not reflect N inputs from atmospheric deposition, nitrogen fixation and mineralization from organically bound nitrogen (Godinot et al., 2014). These inputs were not reported and are difficult to model. Our calculation is thus an apparent nitrogen use efficiency and needs to be looked at as an indicator for total nitrogen use efficiency. Crop and Biofertilizer Categories Data were grouped into the main crop categories cereals, root crops, legumes, and vegetables. Spices like fennel or anise, cotton and oil crops were classified as other crops (see Table 2). To structure the effects of the microbial inoculants, they were classified for their P solubilization and N fixation activity. In this way, it was also possible to account for combined inoculation with different inoculants. The information on the main traits of the inoculants was taken from the studies and further literature sources. Thus, five categories were distinguished: Arbuscular mycorrhizal fungi, P solubilizers, N fixers, a combination of both P solubilization and N fixation, either in one strain or by applying two strains, and other biofertilizers with unspecified modes of action, also in combination with AMF (see Table 3). It allowed to classify biofertilizers according to their needs of phosphorus by relating their effect to plant available P in soil, thus providing direct guidance to practitioners and farmers at which level which biofertilizer is most promising. TABLE 2 Table 2. Crops included in this meta-analysis. TABLE 3 Table 3. Categorization of microbial inoculants according to species characteristics and functionality. Climate Classification and Other Site Characteristics The study locations were classified according to an updated Köppen climate classification (Peel et al., 2007). Thereby the studies were split into dry (BSh, BSk, BWh, Csa) and tropical climate (Aw, Am, Cwa, Cwb, Cwc, Cfa,), continental climate (Dfb, Dsa, Dwa, Dwb, Dsb), and oceanic climate (Cfb). In many studies, the experiments were performed under irrigated conditions or planted in the rainy season. Thus the climate classification is often rather an indicator for potential soil fertility and related indicators such as soil carbon than climate itself (Table 4). Because regions with Mediterranean climate have low soil carbon contents they were grouped into dry climate as well. This grouping enabled us to make a cross comparison of different biofertilizer categories and to identify key conditions for the successful application of biofertilizers. TABLE 4 Table 4. Database as related to climatic zones and nutrient inputs. Data Analysis The dataset used for this study is available in the Supplementary Data Sheet S2. The meta-analysis was conducted with R Software Version 3.2.3 and the interface R-Studio Version 0.99.491 using the “metafor” package (Viechtbauer, 2010b). Also the meta-regressions were calculated within this package by designating moderator variables which were used to calculate a mixed effects model (Figures 6–8). Selection bias was assessed with funnel plots (Figure S2) and outlier analysis was undertaken via DFBETAS values inside the R package “metafor” (Viechtbauer, 2010b). Missing Values Sometimes the nutrient content of organic fertilizers was not available, values were then taken from a booklet within a national project on organic farming by the Indian government (Chandra, 2005). Where bulk density was missing, it was estimated with the pedo-transfer function by Post and Kwon (2000): BD = 100 ( O M c o n c 0 . 244 ) + ( 100 - O M c o n c 1 . 64 ) ( 4 ) where 0.244 is the bulk density of organic matter, 1.64 the bulk density of soil mineral matter, and OM conc the concentration of soil organic matter (%), which was estimated according to Nelson and Sommer (1982), if necessary: O M c o n c = 1 . 72 × S O C c o n c ( 5 ) Missing errors were estimated from the average reported standard deviations in percent, differentiated per crop groups. For cereals, the standard deviation (SD) was 15.2%, for legumes SD 5.5%, for melon and water melon SD 35.9%, for vegetables SD 11.2%. For maize (SD 10.6%), cotton (SD 14.0%), rice (SD 14.18%), mustard and rapeseed (SD 10.2%) values were averaged within each type of crop. Average of all were applied for anise, fennel, dill, sesame, sunflower, coriander, garlic, ryegrass, turmeric, silage maize, potato, sugarcane SD 12.0%. The standard deviation in yield as a percentage was used to estimate the error in PUE and NUE. Bias Assessment It cannot be excluded that there was a certain publication bias within the results. In order to find out whether there was a publication bias in the meta-analysis “funnel plots” were used to detect a possible publication bias. The trim and fill method was used to help interpretation as proposed by Duval and Tweedie (2000a,b) and Duval (2005). Modest bias was found in some groupings (Figure S2), but no studies were excluded. Results Our comprehensive meta-analysis with studies from all over the world (Figure 1) revealed that biofertilizers were found to be most effective in dry climates (Figure 2). Biofertilizer also improved PUE and NUE greatly. Furthermore, we found that biofertilizers possessing both N fixing and P solubilizing traits have the highest potential to improve the crop yields (Figure 3). Interestingly, AMFs, known for facilitating P nutrient uptake in plants, were on par with applications of biofertilizers with the combined traits of N fixation and P solubilization, indicating the big potential of AMFs as sole biofertilizer for most crops and climatic situations. FIGURE 1 Figure 1. Map showing origin of the study and their classification based on the climate. Some locations were not given by the study and were thus located with the name of the place given. Studies that were conducted under commercial conditions in the greenhouse are excluded from this map (Gravel et al., 2007; Luna et al., 2012; Bernabeu et al., 2015; all tomato). FIGURE 2 Figure 2. Percentage change of yield in response to biofertilizer application as affected by climate. Mean values and 95% confidence intervals of the back-transformed response ratios are shown. There was a more pronounced effect in tropical and dry climates. FIGURE 3 Figure 3. Percentage change of yield in response to the application of various categories of biofertilizers. Mean values and 95% confidence intervals of the back-transformed response ratios are shown. There was a more pronounced effect with AMF and for N fixers in combination with P solubilizers. Yield Impact of Biofertilizers by Climate Averaged across all biofertilizer categories, yield was increased the most in dry climates (+20.0 ± 1.7%), followed by tropical climates (+14.9 ± 1.2%), oceanic climates (+10.0 ± 3.7%), and continental climates (+8.5 ± 2.4%) (Figure 2). For interpretation, it is important to keep in mind that 45% of the comparisons in dry climate were conducted in the presence of irrigation. In a separate analysis of the data from dry climates, we found a significant difference in the yield increase under irrigated conditions with +15.9 ± 2.0% (316 comparisons, 39 studies) and under rainfed conditions with +21.0 ± 3.1% (274 comparisons, 20 studies). In dry climates soils had the highest pH and the lowest soil organic matter (OM) content; here, the highest amount of N fertilization was used (Table 4). However, in all climates, the variation of fertilizer application levels within the trials was high. Yield Impact of Different Biofertilizer Categories AMF, other biofertilizers and the application of biofertilizers with both functional traits—N fixation and P solubilization—were the most effective inoculants. The combination of both functional traits was more effective than the separate application of biofertilizers with one trait only (Figure 3). Impact of Biofertilizers by Crop Categories Across all crop categories, the inoculation with biofertilizers showed an average yield increase by 16.2 ± 1.0% as compared to non-inoculated controls (Figure 4A). Yield response was distinctly lower for root crops than for all other crop categories, with legumes showing a tendency to superior response upon inoculation. FIGURE 4 Figure 4. Percentage change of yield (A), change in phosphorus use efficiency (PUE) (B), and nitrogen use efficiency (NUE) (C) in response to biofertilizer application. Mean values and 95% confidence intervals of the back-transformed response ratios are shown. Yields of root crops were least responsive due to inoculation. PUE was improved in legumes, cereals and vegetables. NUE was improved in legumes and cereals but only to a minor extent in root crops and the other crops. *The high value for all crops is caused by the outlier calculation that resulted in different pairs being excluded for the full sample and the sub-samples. The overall improvement of PUE due to biofertilizers was 7.5 ± 0.8 kg yield per kg P (Figure 4B). PUE increase was most pronounced in legumes (7.8 ± 1.3 kg yield per kg P). Least improvement was found with root crops and the category other crops. On average NUE was improved by 5.8 ± 0.6 kg yield per kg N fertilizer through biofertilization (Figure 4C). Legumes manifested the highest response for NUE (8.3 ± 1.2 kg yield per kg N), root crops, vegetables, and the category other crops the lowest. Response of Biofertilizers to Plant Available Phosphorus in Soil Each crop plant, but even crop variety as well as microorganisms have an optimum level of abiotic factors for their physiology and growth. We tested the dependency of biofertilizers with regard to their induced effect size yield under different levels of plant available P, as P is a limiting element for plant growth in many regions of the world. Seven cohorts were formed with the level of plant available phosphorus in soil, which provided sufficient data for comparisons in each level and biofertilizer category. Our results indicate that AMFs have their optimum in yield increase at a low level of 15–25 kg P ha−1. P solubilizing microorganisms have their best effect between 25 and 35 kg ha−1 soil available P (Figure 5). N fixers alone have an optimum in yield at more than 45 kg ha−1 available P; in combination with P solubilizers, this drops to 35–45 kg P ha−1 (Figure 5). In their optimum all biofertilizers except P solubilizers increase yield by more than 40%. In a meta-regression with the sum of soil available P and fertilizer P as an explanatory variable, the same increased efficiency at low P levels for AMF and the combined application of P solubilizers and N fixers was found (Figure 6). However, for P solubilizers and N fixers alone no relationship could be found. FIGURE 5 Figure 5. Percentage change of yield in response to applications of AMF (A), P solubilizers (B), N fixers (C), and N fixers in combination with P solubilizers (D) as affected by the levels of plant available phosphorus in soils. Mean values and 95% confidence intervals of the back-transformed response ratios are shown. Yield response of AMF is highest between 15 and 25 kg and with P solubilizers it is between 25 and 35 kg plant available P per hectare. Yield response in N fixers has its optimum within 45–100 kg and in combination with P solubilizers between 35 and 45 kg plant available P per hectare. FIGURE 6 Figure 6. Mixed effects model with fertilizer P added to soil available P as moderator for various biofertilizer categories. Dotted lines depict the confidence interval. (A), n = 316, R2 = 0.08%, p = 0.1783 (B), n = 255, R2 = 0%, p = 0.9438; (C), n = 195, R2 = 18.74%, p = <0.0001; (D), n = 230, R2 = 5.47%, p = 0.0002. Impact of Other Biofertilizers We found a decrease in yield response for P solubilizers and even more for AMF with increased soil organic matter (Figure 7). We also identified pH as an important factor for the success of inoculation of AMF and as well for combined P solubilizers with N fixers (Figure 8D). With AMF there is a slight decrease in yield response at higher pH (Figure 8C). FIGURE 7 Figure 7. Mixed effects model with organic matter (OM) as moderator for various biofertilizer categories. Dotted lines depict the confidence interval. (A), n = 313, R2 = 0.0%, p = 0.9174; (B), n = 251, R2 = 1.96%, p = 0.0063; (C), n = 202, R2 = 4.8%, p = 0.0007; (D), n = 207, R2 = 2.04%, p = 0.0492. FIGURE 8 Figure 8. Mixed effects model with pH as moderator for various biofertilizer categories. Dotted lines depict the confidence interval. (A), n = 450, R2 = 0.35%, p = 0.2864; (B), n = 294, R2 = 1.19%, p = 0.0405; (C), n = 206, R2 = 14.22%, p ≤ 0.0001; (D), n = 228, R2 = 13.57%, p ≤ 0.0001. Limitations Meta-analyses face the problem of publication bias. Asymmetry in funnel plots can give information about a publication bias, but its interpretation is sometimes reported to be subjective (Terrin et al., 2005). Our statistical analyses of publication bias resulted in biases to both overly positive and overly negative results, but the bias identified is only moderate, and we thus refrained from adjusting the data to explicitly account for that but we refrain from further interpretation. Regarding variables of potential relevance that have not been covered, the initial soil microbial community had most probably an effect on the inoculation success. Some studies have reported initial populations of their inoculants in the soil, but information on this was too heterogeneous and scarce to be included in this analysis. Discussion Are Biofertilizers a Viable Option for Dryland Agriculture? Our results give strong indications that microbial inoculation is more successful in dry regions. The differences between dry and other climatic conditions are not necessarily thought to be based on microbes conferring drought resistance, but on differences of microbial community in the dry season. Yet microbes are also affected by soil fertility, which is usually lower in dry regions (Thomas et al., 2004). Especially soil organic matter (see Table 4) and soil nitrogen content are reduced. Accordingly, also organic P is lower in drier regions. Phosphorus is highly immobile in soil, particularly in dry soils with less water and less diffusion (Syers et al., 2008). This explains the stronger effect of biofertilizers and especially of P solubilizing bacteria and AMF under these conditions. When dry soil is suddenly getting wet, there is a burst of availability of N and C, caused by lysis of microorganisms due to the rapid change in water availability (Kieft et al., 1987) and also by the release from non-microbial soil organic carbon (Appel, 1998). More N than C is mineralized which enables microbial degradation of materials with a low C:N ratio and results in further mineralization. This explains the commonly observed pulse of mineralization following wetting of dry and semidry soils (Bloem et al., 1992; Zaady et al., 1996; Cui and Caldwell, 1997; Austin et al., 2004). Both events explain the increased yield effect of biofertilizers under dry climate: Biofertilizers immobilize N to make it available later or directly improve the uptake by plants by facilitating the conversion of ammonium to nitrate and are able to prevent gaseous losses of nitrogen. Other released nutrients may as well be taken up by microbial inoculants and then become plant available later in the season. Secondly, dry regions are, even with irrigation, still dryer compared to humid areas and often also hotter, causing more evapotranspiration from plants and soil. Biofertilizers like Azospirillum may release phytohormones like auxin which enhance root branching and also root elongation. This would be a clear advantage for plants in dry areas (Dobbelaere et al., 1999; Steenhoudt and Vandereyden, 2000). Furthermore, biofertilizers are able to produce other plant hormones like gibberellins and cytokinins in the case of Azotobacter (Bhardwaj et al., 2014) reducing stress in the plants and stabilizing their yields. Some bacteria produce ACC deaminase and some biofertilizers are specifically selected for their ability to do so. In stress situations, like drought, plants produce ethylene, which reduces plant growth and may also limit nodulation in leguminous plants. ACC deaminase producing bacteria are able to degrade ethylene thus allowing the plants to grow better by reducing the impact of signal molecules (Shaharoona et al., 2007). Also proline, which accumulates as a common physiological response to various stresses, is degraded by bacteria and improves drought resistance under modest drought (Straub et al., 1997; Verbruggen and Hermans, 2008). This effect was also proven to be agronomically important for plants under drought (Naseem and Bano, 2014; Kumar et al., 2016). Stress situations are more likely in dry regions where also salinity and nutrient deficiencies limit plant growth. What Are the Best Biofertilizers? Our meta-analysis reveals that AMF and combined application of P solubilizers and N fixers are the best inoculants. The higher yield increases by the combinations of the two functional traits N fixation and P solubilization than their separate application suggests an absence of competition and rather synergies between the two traits. Similar numbers for yield increase after inoculation with AMF were found by Lekberg and Koide (2005), who analyzed 290 glasshouse and field trials in a meta-analysis. Berruti et al. (2016) found in their meta-analysis that both yield and plant nutrition were significantly improved by inoculation with AMF under open field conditions in 92% of 112 experiments. In the literature, some microorganisms with the ability to fix nitrogen have been shown to contribute only to a small extent to the N nutrition of crops, and that these results are highly variable (Lee et al., 1994; Bremer et al., 1995; Santi et al., 2013). Our results indicate that their contribution to yield is substantial and with low variation (Figure 3). Furthermore, a certain amount of plant available P is necessary for all of the biofertilizer groups and none had their optimum at the lowest cohort between 0 and 15 kg ha−1 soil available P. In AMF with the best growth promotion at a low level, the growth promotion is well known to depend on the P status of the plant (Smith and Read, 2008a). AMF are able to access phosphorus in soil pores, too small for plant roots, and also extend the access to P in distant soil patches through their hyphal network (Smith and Read, 2008b). Lekberg and Koide (2005) found a greater potential for growth responses in soils with low levels of plant available P in soil, however variability was high. N fixation has large requirements of P and the need is satisfied only at higher levels of P (Graham and Vance, 2000). Leguminous plants for example have developed P solubilizing strategies themselves to satisfy the need of their symbionts. In the meta-analysis by Augusto et al. (2013) it was shown that P availability drives plant growth and also biological nitrogen fixation which explains the strong response at high levels of plant available P in soil in our study. In a meta-regression we have tested furthermore whether our results achieved with soil available P is also found when taking the sum of soil available P and fertilizer P as the explanatory variable. However we found that to result in less of an explanations than before. Considering that only 10–20% of P contained in the crop originates from the most recent fertilization and the remaining 90–80% comes from the reserves accumulated in the soil in earlier fertilizer applications (Sharpley, 1986; McLaughlin et al., 1988), it is no surprise that plant available P in soil is a better control variable. We are aware of the fact that many biofertilizers may have multiple functions and traits, although not specified by the producers, or by the researchers. Nonetheless we categorized the inoculants to the best of our knowledge. Many studies have used combinations of different biofertilizers and synergistic effects cannot be excluded. Some biofertilizers can fix nitrogen while also solubilizing phosphorus, but they were selected for other traits as well e.g., plant hormone production, solubilization of other nutrients such as Zn or Fe or plant defense [antibiotic 2,4-diacetylphloroglucinol (DAPG), hydrogen cyanide (HCN)]. However, in a separate analysis we found no general superiority to mono inoculation (multi inoculation 15.5 ± 1.4% vs. mono inoculation 16.9 ± 1.3% yield increase). P solubilizers and AMF are most successful at the low levels of plant available P prevalent in soils of tropical regions. Biofertilizers were best in both dry and humid tropics. We also found a decrease in yield response for P solubilizers and even more for AMF with increased soil organic matter (Figure 7), which is likely caused by an increased microbial activity, making it difficult for new microorganisms to establish (Schnürer et al., 1985; Paul, 2016). Also soil organic matter contains organic phosphorus in microbial biomass and other organic pools. We also identified pH as an important factor for the success of inoculation of AMF and as well for combined P solubilizers with N fixers (Figure 8D). Under low and high pH macronutrients are less available for plants. Our results indicate that AMF make only accessable macronutrients at neutral pH more available. Combined P solubilizers and N fixers are effective at high pH. However P solubilizers and N fixers applied alone are independent of pH. With AMF we even found a slight decrease in yield response at higher pH (Figure 8C), which again corresponds to less soluble macronutrients and especially nitrogen and phosphorus. There is circumstantial evidence why legumes were most responsive to biofertilizers across all effect sizes. Biofertilizers applied to legumes consisted in 12% of all included studies of rhizobia, which were selected to build compatible symbioses with their host plants, but rhizobial inoculum is already present in many soils anyways. Legumes have evolved specific symbioses with N fixing rhizobia but require also other nutrients; reportedly the phosphorus requirement of nodules is up to three times higher than the needs of the surrounding roots (Vadez et al., 1997). Other microorganisms or biofertilizers may help to fulfill this additional nutrient need. In fact, legumes were shown to benefit by an additional AMF inoculation (Mortimer et al., 2008; Omirou et al., 2016). The applied biofertilizers, often with multiple traits such as N fixation and P solubilization, seem to act more synergistically in legumes than in other plants. Interestingly the addition of extra microbial inoculants to sole rhizobia treatments alone improved crop yield also in the range of 19.2% (mean of 59 comparisons from 12 studies), substantiating the synergistic effect between N fixers and P solubilizers. Conclusions We have analyzed three different effect sizes each giving a different perspective on the success of biofertilizers. It was found that dryland agriculture can benefit most from biofertilizers. Due to climate change, in the future there will be even more dryland areas globally. Biofertilizers are thus a promising option for sustainable agriculture. In the future, pretests of the soil community may predict the competitive chance of biofertilizer in a specific soil and help to efficiently produce adapted biofertilizers for each specific application. Author Contributions LS, AG, PM, TB, MM, AM, and NM: Designed research; LS: Performed research and analyzed data; LS, PM, AM, TB, and NM: Wrote the paper. Conflict of Interest Statement The authors declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest. Acknowledgments We thank Thimmegowda M. N., GKVK, Bangalore, India and Rachit Saxena from ICRISAT, Hyderabad, India in helping us with part of Indian publications. We thank IDP-Bridges, ISCB, Mercator Foundation Switzerland (Grant No. 2011-0294), the participants of the Mercator workshop, FiBL, November 2016, and the European commission (FP 7 project BIOFECTOR, Grant No. 312-117) for funding this study. 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Sweden and Denmark join forces to fight Russian cyber-attacks

Denmark and Sweden will work together to fight cyber attack threats from Russia, including disinformation or “fake news” campaigns. The defence ministers for both countries have said that their nations have been exposed to such attacks, with the Stockholm Institute of International Affairs naming Russia as the source of disinformation campaigns against Sweden. Denmark and Sweden will also increase their traditional military cooperation to guard against increased Russian naval vessels and aircraft presence in shared waters and airspace.

https://www.theguardian.com/world/2017/aug/31/denmark-and-sweden-boost-defence-ties-to-fight-russian-cyber-attacks

Denmark and Sweden are to boost defence cooperation to counter what they described as a growing threat from Russia, including from “dangerous” fake news campaigns and cyber-attacks, the two countries’ defence ministers have said. Peter Hultqvist of Sweden and Claus Hjort Frederiksen of Denmark said in a statement before a meeting in Stockholm that Russian hybrid warfare – cyber-attacks, disinformation and fake news – could create uncertainty. When nations “cannot clearly distinguish false news and disinformation from what is true, we become increasingly unsafe”, the ministers said, adding: “We have both been exposed to forms [of this] and want to better defend our societies in this area.” This year Stockholm’s Institute of International Affairs accused Russia of using fake news, false documents and disinformation in a coordinated campaign to influence public opinion and decision-making in Sweden. The study said Sweden had been the target of “a wide array of active measures” including misleading reports on Russian state-run news networks and websites, forged documents, fabricated news items and “troll armies”. Moscow’s main aim was to “preserve the geo-strategic status quo” by minimising Nato’s role in the wider Baltic region and keeping Sweden out of the international military alliance, the study said. Hultqvist and Frederiksen said the two countries would also increase more traditional forms of military cooperation, citing the increased presence of Russian naval vessels in the Baltic and airspace violations by Russian military aircraft. “We already have good cooperation with Sweden and the other Nordic countries, but believe we can expand this more,” Frederiksen said. “We need to stand together when we have an unreasonable Russia moving into the Crimea and building up in our immediate neighbourhood.” Joint exercises and more cross-border exchanges of military and intelligence expertise would follow, he added. In January, after accusations that Russian hackers had interfered with the US presidential election, Sweden’s prime minister, Stefan Löfven, told a national defence conference that he could not rule out Russia trying to influence the next Swedish elections, due in 2018.