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BitGrail exchange loses $170m of Nano tokens in hack

Italy's BitGrail cryptocurrency exchange has lost $170m of Nano tokens. The company said the losses were due to fraudulent transactions and it had reported them to authorities, but its founder, Francesco Firano, admitted there was no way to refund all the money users had lost. BitGrail is the second exchange to suffer a massive loss this year, after Japan's Coincheck lost between $400m and $534m digital coins in a cyber attack last month. 

https://www.engadget.com/2018/02/10/bitgrail-170-million-unauthorized-transactions/

One of the biggest problems with cryptocurrency exchanges is that they're a juicy, enticing target for high-tech criminals. Case in point, Italian exchange BitGrail, which lost $170 million worth of Nano tokens, a little-known digital coin previously called RaiBlocks. BitGrail is the second exchange that lost of massive amount of money this year -- and it's only February -- following Tokyo-based Coincheck, which lost between $400 and $534 million worth of coins in a cyberattack on its internet-connected wallet back in January. BitGrail announced on its website that it lost $170 million to fraudulent transactions and that it has already reported them to authorities. It has suspended all withdrawals and deposits "in order to conduct further verifications." However, unlike Coincheck, which promised to give users their money back, BitGrail founder Francesco "The Bomber" Firano announced on Twitter that there's no way to refund 100 percent of what users lost. While BitGrail's loss is in no way as massive as Mt. Gox's, it's still steeped in controversy. The Nano team said that they have no "reason to believe the loss was due to an issue in the Nano protocol" and that the "problems appear to be related to BitGrail's software." They also published a copy of their conversation with the exchange's founder and said that Franceso suggested they modify the ledger to cover his losses. It doesn't help that BitGrail recently required users to verify their accounts to be able to withdraw their coins beyond a certain amount, and some people have reportedly been waiting for verification since December. More recently, the exchange announced that it would no longer serve non-EU users due to what it said are legal complications. Team Nano wrote in their latest statement: "We now have sufficient reason to believe that Firano has been misleading the Nano Core Team and the community regarding the solvency of the BitGrail exchange for a significant period of time." On Twitter, Francesco said Nano's claims are nothing but "unfounded allegations." He added that he told the police that the Nano team published their private convo, which could compromise the investigation. In the wake of the unfounded accusations made against me by the dev team and of the dissemination of private conversations that compromise police investigations, Bitgrail s.r.l. is forced to contact the police in order to protect its rights and users — Francesco The Bomber (@bomberfrancy) February 10, 2018

Abbotts new antigen-based diagnostic test called BinaxNow

Abbott's BinaxNOW™ COVID-19 Ag Card is a rapid, reliable, highly portable, and affordable tool for detecting active coronavirus infections at massive scale. The test delivers results in just 15 minutes with no instrumentation, using proven lateral flow technology with demonstrated sensitivity of 97.1% and specificity of 98.5% in clinical study

https://abbott.mediaroom.com/2020-08-26-Abbotts-Fast-5-15-Minute-Easy-to-Use-COVID-19-Antigen-Test-Receives-FDA-Emergency-Use-Authorization-Mobile-App-Displays-Test-Results-to-Help-Our-Return-to-Daily-Life-Ramping-Production-to-50-Million-Tests-a-Month

Abbott's Fast, $5, 15-Minute, Easy-to-Use COVID-19 Antigen Test Receives FDA Emergency Use Authorization; Mobile App Displays Test Results to Help Our Return to Daily Life; Ramping Production to 50 Million Tests a Month - Abbott's BinaxNOW™ COVID-19 Ag Card is a rapid, reliable, highly portable, and affordable tool for detecting active coronavirus infections at massive scale - Test delivers results in just 15 minutes with no instrumentation, using proven lateral flow technology with demonstrated sensitivity of 97.1% and specificity of 98.5% in clinical study - Abbott to offer a no-charge complementary phone app, which allows people to display their BinaxNOW test results when asked by organizations where people gather, such as workplaces and schools - Company will ship tens of millions of tests in September, ramping to 50 million tests a month at the beginning of October ABBOTT PARK, Ill., Aug. 26, 2020 /PRNewswire/ -- Abbott (NYSE: ABT) announced today that the U.S. Food and Drug Administration (FDA) has issued Emergency Use Authorization (EUA) for its BinaxNOW™ COVID-19 Ag Card rapid test for detection of COVID-19 infection. Abbott will sell this test for $5. It is highly portable (about the size of a credit card), affordable and provides results in 15 minutes. BinaxNOW uses proven Abbott lateral flow technology, making it a reliable and familiar format for frequent mass testing through their healthcare provider. With no equipment required, the device will be an important tool to manage risk by quickly identifying infectious people so they don't spread the disease to others. Abbott will also launch a complementary mobile app for iPhone and Android devices named NAVICA™. This first-of-its-kind app, available at no charge, will allow people who test negative to display a temporary digital health pass that is renewed each time a person is tested through their healthcare provider together with the date of the test result. Organizations will be able to view and verify the information on a mobile device to facilitate entry into facilities along with hand-washing, social distancing, enhanced cleaning and mask-wearing. "We intentionally designed the BinaxNOW test and NAVICA app so we could offer a comprehensive testing solution to help Americans feel more confident about their health and lives," said Robert B. Ford, president and chief executive officer, Abbott. "BinaxNOW and the NAVICA app give us an affordable, easy-to-use, scalable test, and a complementary digital health tool to help us have a bit more normalcy in our daily lives." In data submitted to the FDA from a clinical study conducted by Abbott with several leading U.S. research universities, the BinaxNOW COVID-19 Ag Card demonstrated sensitivity of 97.1% (positive percent agreement) and specificity of 98.5% (negative percent agreement) in patients suspected of COVID-19 by their healthcare provider within the first seven days of symptom onset. "The massive scale of this test and app will allow tens of millions of people to have access to rapid and reliable testing," said Joseph Petrosino, Ph.D., professor and chairman, Molecular Virology and Microbiology, Baylor College of Medicine, whose labs have been leading efforts to provide COVID-19 testing for the college and Harris County. "With lab-based tests, you get excellent sensitivity but might have to wait days or longer to get the results. With a rapid antigen test, you get a result right away, getting infectious people off the streets and into quarantine so they don't spread the virus." Under FDA EUA, the BinaxNOW COVID-19 Ag Card is for use by healthcare professionals and can be used in point-of-care settings that are qualified to have the test performed and are operating under a CLIA (Clinical Laboratory Improvement Amendments) Certificate of Waiver, Certificate of Compliance, or Certificate of Accreditation. Within these settings, the test can be performed by doctors, nurses, school nurses, medical assistants and technicians, pharmacists, employer occupational health specialists, and more with minimal training and a patient prescription. "Our nation's frontline healthcare workers and clinical laboratory personnel have been under siege since the onset of this pandemic," said Charles Chiu, M.D., Ph.D., professor of Laboratory Medicine at University of California, San Francisco. "The availability of rapid testing for COVID-19 will help support overburdened laboratories, accelerate turnaround times and greatly expand access to people who need it." Currently, AdvaMed (The Advanced Medical Technology Association) estimates that test manufacturers are shipping about 1 million tests per day. Abbott will ship tens of millions of tests in September, ramping to 50 million tests a month at the beginning of October. The company has invested hundreds of millions of dollars since April in two new U.S. facilities to manufacture BinaxNOW at massive scale. The BinaxNOW COVID-19 Ag Card can be used as a first line of defense to identify people who are currently infected and who should isolate themselves to help prevent the spread of the disease. It is intended for the qualitative detection of nucleocapsid protein antigen from SARS-CoV-2 in nasal swabs from individuals suspected of COVID-19 by their healthcare provider within the first seven days of symptom onset. As a near-person rapid antigen test, BinaxNOW was engineered for point-of-care settings, near-patient, and not for reference labs. Patient samples should be tested immediately and should not be diluted in viral transport media. NAVICA mobile app will help facilitate return to daily activities Abbott is also offering a mobile app at no charge that will allow people to display their results obtained through a healthcare provider when entering facilities requiring proof of testing. The NAVICA app is optional and an easy-to-use tool that allows people to store, access and display their results with organizations that accept the results so people can move about with greater confidence. The app is supported by Apple and Android digital wallets and will be available from public app stores in the U.S. "While BinaxNOW is the hardware that makes knowing your COVID-19 status possible, the NAVICA app is the digital network that allows people to share that information with those who need to know," said Ford. "We're taking our know-how from our digitally-connected medical devices and applying it to our diagnostics at a time when people expect their health information to be digital and readily accessible." If test results are negative, the app will display a digital health pass via a QR code, similar to an airline boarding pass. If test results are positive, people receive a message to quarantine and talk to their doctor. As they're required to do for all COVID-19 tests, healthcare providers in all settings will be required to report positive results to the CDC and other public health authorities, regardless of whether they use the app. The digital health pass is stored in the app temporarily and expires after the time period specified by organizations that accept the app. The app's user interface is supported by a back-end digital infrastructure that is cloud-based, scalable and secure. It's been designed to support a very large number of users and enable access from anywhere. The app is not for contact tracing and only collects a person's first and last name, email address, phone number, zip code, date of birth and test results. About the BinaxNOW COVID-19 Ag Card Test The BinaxNOW COVID-19 Ag Card is an assay for the qualitative detection of specific antigens to COVID-19 in the human nasal cavity. A simple nasal swab is used to collect specimens from people suspected of having an active infection. No equipment is required to process samples or read test results. In addition, minimal chemical reagents are required, which lessens exposure to biohazardous materials and improves safety for those administering the test. The BinaxNOW COVID-19 Ag Card is the sixth test that Abbott is launching in the U.S. to help fight the coronavirus pandemic. Abbott's tests are performed on its high-volume m2000™ and Alinity® m molecular laboratory systems; its ID NOW™ rapid molecular point-of-care platform; antibody tests for its high-throughput ARCHITECT® i1000SR and i2000SR and Alinity™ i laboratory instruments. Abbott has provided more than 27 million COVID-19 tests in the U.S. to date, including 14 million detection tests and 13 million antibody tests. About Abbott Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 107,000 colleagues serve people in more than 160 countries. Connect with us at www.abbott.com, on LinkedIn at www.linkedin.com/company/abbott-/, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews and @AbbottGlobal. The BinaxNOW™ COVID-19 Ag Test Card EUA has not been FDA cleared or approved. It has been authorized by the FDA under an emergency use authorization for use by authorized laboratories and patient care settings. The test has been authorized only for the detection of proteins from SARS-CoV-2, not for any other viruses or pathogens, and is only authorized for the duration of the declaration that circumstances exist justifying the authorization of emergency use of in vitro diagnostic tests for detection and/or diagnosis of COVID-19 under Section 564(b)(1) of the Act, 21 U.S.C. § 360bbb-3(b)(1), unless the authorization is terminated or revoked sooner. SOURCE Abbott

Stellar becomes sixth biggest cryptocurrency...by market cap

Stellar ($5.4bn) has passed litecoin ($4.8bn) as the world's sixth biggest cryptocurrency by market cap. Litecoin creator, Charlie Lee, stated; 'it really doesn’t make sense to compare market caps of coins that are “printed”, b/c they have an inflated market cap.' Lee see's ranking cryptocurrencies by market cap isn't the most accurate metric possible, as it doesn't reflect decentralisation nor how its created. Having signed a deal last month worth $500m (in XLM) to purchase blockchain startup Chain, and with Coinbase showing interest in adding them to their platform, stellar has the potential to maintain its high growth. 

https://bitcoinist.com/stellar-passes-litecoin-market-cap/

BYDFi is the clear winner in our list of the best crypto exchanges for day trading this year and has... Are you a sports betting enthusiast looking for a fresh perspective and exciting opportunities? Look no further! In this blog... It’s been an interesting week for the crypto sector after the SEC moved to sue two heavyweight exchanges in the... The Russian banking giant Sberbank is getting into the cryptocurrency trading business. According to a release, the bank will begin providing... After the massive sell-off of altcoins and the resulting (moderate) Bitcoin price drop on Friday, the market for digital assets... Bitcoin Inscriptions have created a huge hype in recent months and divided the BTC community into two parts. And the... Coinbase, one of the world's leading cryptocurrency exchanges, is being beckoned toward the shores of Hong Kong as the region's... On-chain data shows that Bitcoin long-term holders don't care too much about the ongoing market FUD as their exchange inflows... Decentralized finance has unfortunately acquired a reputation for offering scammers opportunities to defraud investors. Pump and dump schemes, rug pulls,... Andreessen Horowitz (a16z), a renowned venture capital firm based in the United States, is poised to make a significant stride... Amid the continuous regulatory scrutiny in crypto, there have been a diversified sentiment among different participant groups about the Bitcoin market.... Long-term Bitcoin holders are standing strong amidst the storm, undeterred by the recent lawsuit filed against Binance and Coinbase Exchange... I Agree This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy

Shop with your camera: Pinterest launches Shop tab on Lens visual search results

Pinterest launches shop tab on visual search results in the US. There are 3x as many visual searches using the Pinterest camera than last year. Every Product Pin links directly to the checkout page on the retailer's site. The magic of Lens is it can help you shop even when you don't have the words for a search.

https://newsroom.pinterest.com/en/post/shop-with-your-camera-pinterest-launches-shop-tab-on-lens-visual-search-results

As more retailers come online and bring their products to Pinterest, we’re making it easier for Pinners to shop with their camera. Over the years we’ve greatly improved the results that appear when you snap a photo with Lens camera search, to match related suggestions and products to buy. There are 3x as many visual searches using the Pinterest camera than last year. Today, we’re launching a shop tab right on Lens results. Just click the camera in the search bar, snap or upload a photo, and see a “Shop” tab with a feed of shoppable Pins based on the in-stock products we've identified in that image. Every Product Pin links directly to the checkout page on the retailer's site. Snap and shop Have worn-down running shoes and want to purchase a similar style from a different brand? Use Lens to shop in-stock products. You can also upload a screenshot you’ve snapped from another app or an older photo from your camera roll – such as artwork, a rug or pillows — and Lens will tell you what it is and where you can purchase it. Lens can take images from offline or online and show you similar items for sale, from a range of retailers and price points. It’s harder to browse the aisles of your favorite stores these days, but with Lens, you can browse the online catalogs of retailers to discover new products you’ll love. Top-shopped Lens finds Around half of the items snapped through Lens belong to the fashion or home decor category. The top-shopped products with Lens are prints & artwork, shirts & tops, dresses, shoes, jackets, vases, mirrors, rugs, pants and throw pillows. In the past few months, there have been increasing searches on Pinterest for at-home beauty products such as press on nails (+30%), while searches related to sweatpants have decreased 12% from February to April. Meanwhile, “home office” searches are the highest they’ve ever been, growing 2.7x from February to April. Heading outside, searches for “backyard furniture” spike every spring, but there have been record highs for these searches this May, 3x greater than last year. And, as Pinners make every grocery store trip count during COVID, there have been record highs in searches for “grocery shopping list”, which have doubled this April compared to February. One of the unique ways to use Pinterest for shopping has been visual search. Whether you want to search a particular object within a larger Pin, or use the camera to find similar products — if you see it, you can shop it. The magic of Lens is it can help you shop even when you don’t have the words for a text search. While you have your Lens camera open, click “try on” to use augmented reality to test out different shoppable lip colors from the comfort of your home. As shopping looks a bit different these days, we’re helping retailers of all sizes bring their products to Pinterest and give shoppers the ability to discover something wonderful and unexpected from trusted merchants . To expand offerings to small businesses, we recently launched a partnership with Shopify that makes uploading catalogs to Pinterest easier than ever. We also just announced a new way to shop curated picks from influencers and publishers with shopping spotlights . If you’re a retailer, you can learn more about shopping with Pinterest here . You can find high-resolution images here . Pinterest Internal Data, Global, May 2020 Methodology: Trends are calculated by comparing normalized searches in February ‘20-April ‘20

Anxious teens increasingly buying Xanax online illegally

A rising number of teenagers are illegally buying the anti-anxiety prescription drug Xanax, which is 20 times stronger than Valium, to "self-medicate" against mental health issues. They are finding them on the dark web and even social media sites. There has been a sharp rise in the popularity of Xanax over the past year, with some suggesting it has now become one of the top five drugs used by young people, alongside cannabis and alcohol. Alongside this, there are rising numbers of counterfeit Xanax pills available online that could be laced with the deadly synthetic opioid fentanyl.

http://www.fox9.com/news/counterfeit-xanax-laced-with-deadly-fentanyl-becoming-popular-party-drug

A FOX 11 investigation is taking you into the world of “xans” and “bars”, counterfeit Xanax pills taken by young adults which could be laced with the extremely deadly synthetic opioid fentanyl. “Imagine three to five grains of table salt, that’s the potential fatal dose for an adult,” said Marlon Whitfield of the Drug Enforcement Agency’s Los Angeles division. “If you take one of these pills, there’s a chance you may die. Xans have been glorified by hip hop artists in the music industry, they’ve appeared in numerous of their music videos, and they’re being sold all over social media, especially Instagram, including by a popular DJ in the San Fernando Valley. “I think the reason Xanax is popular with the kids is it’s being popularized in music, social media platforms, it’s in almost every song, my son even asked me what’s molly Percocet, and he’s nine years old,” Whitfield said. “Fentanyl has been pouring in from China, where there are looser regulations and an abundant amount of pharmaceutical companies. Fentanyl is 50 times more powerful than heroin, and 100 times more powerful than morphine. It can be used legitimately with a doctor to treat acute pain, but the DEA says fentanyl is finding its way into counterfeit Xanax which is now being sold on American streets. “The motive is profit,” Whitfield said. “If you’re cutting street drugs with something that’s more powerful, you’re going to make more money.” In October, 2015, 29-year-old Tosh Ackerman inadvertently took a quarter of a counterfeit Xanax he had gotten from a friend. He didn’t know it was laced with fentanyl. “He just wanted to sleep,” said his mother, Carrie Luther. “All he wanted to do was get some sleep.” But Ackerman never woke up. He died after overdosing on a lethal dose of fentanyl, leaving Luther devastated. “I can’t imagine what it’s going to be like to live without him for the next 25 years or however long I’m going to live without my son in my life,” she said. “You cannot know what you’re putting in your mouth, just don’t do it. You don’t want your friends and family to be watching you lying in a casket because you mistakenly took something, and you’re gone forever.” In November 2017, famous rapper Lil Peep was found dead before a show in Tucson, Arizona. The coroner determined he had died after a lethal overdose of Xanax mixed with fentanyl. Lil Peep had previously posted numerous videos of himself popping Xanax like candy. “Almost 100 percent of what’s being sold out there is counterfeit,” said John Clark, chief security office for Pfizer, the company that makes legitimate prescription Xanax. “They’re putting whatever they want into it, fentanyl, boric acid, whatever ingredients are available they’ll put into it and sell it as Xanax, if the intent is to kill kids then they’re doing a good job of it.” Instagram video from DJ Bigglo, a popular DJ in the San Fernando Valley, shows him selling Xanax over social media, writing that he has already sold 400 bars, and has 100 left. He has posted numerous videos online advertising his selling of Xanax. He and his crew also throw huge underage parties with drugs and alcohol, which FOX 11 has filmed with undercover cameras. When FOX 11 showed DJ Bigglo’s Xanax videos to the DEA, they said the pills didn’t look legitimate. “Some of them definitely look fake, jus based on the air bubbles and colorations,” Whitfield said. Alexis Haines once made headlines as a member of the infamous celebrity burglarizing bling ring, and Xanax was one of her drugs of choice. But now she’s turned her life around, becoming a counselor at Alo House, a rehab center in Malibu. “If I was still an active drug user I would probably be dead if I had access to drugs the way these people do off of Instagram,” she said. “You can have two pills that you bought from your drug dealer, one has a little bit more fentanyl than the other and that one will be the one that ends your life.” The DEA says that Xanax should only be taken with a prescription from a doctor, and that getting it from anywhere else is putting you at risk for an overdose of fentanyl. The DEA told FOX 11 that fentanyl has been pouring into the United States from China, where there are looser regulations and numerous pharmaceutical companies, and that between 2014 and 2016 the amount that was seized coming into the US went up eighteen fold. 2017 is expected to be even worse. Copyright 2018 FOX 11 Los Angeles: Download our mobile app for breaking news alerts or to watch FOX 11 News | Follow us on Facebook, Twitter , Instagram and YouTube.

Hexagon and Cimc to make hydrogen cylinders for in Asia

Norway’s Hexagon Composites and Chinese energy equipment firm Cimc Enric have partnered to manufacture lightweight and cost-effective cylinders for hydrogen storage, backing the development of hydrogen mobility in China and Southeast Asia. Together, the companies could become the region’s biggest hydrogen storage and distribution solutions provider, said Hexagon CEO Jon Erik Engeset. The Association of Southeast Asian Nations wants its energy system to be 23% renewable by 2025, and Chinese authorities expect the country’s fuel cell EV market to reach one million vehicles by 2030, with an initial focus on fuel cell-powered buses and commercial vehicles.

https://www.h2-view.com/story/hexagon-and-cimc-enric-to-accelerate-hydrogen-transport-in-china-and-southeast-asia/

Hexagon and Cimc Enric to accelerate hydrogen transport in China and Southeast Asia Hexagon Composites and Chinese energy equipment manufacturer Cimc Enric are joining forces to accelerate zero emission hydrogen transportation in China and Southeast Asia. The two companies will jointly establish facilities for manufacturing cylinders to serve the fast-growing demand of the Chinese and Southeast Asian market for safe, lightweight and cost-efficient compressed hydrogen storage solutions. “China is on its way to becoming the largest market globally for hydrogen mobility and distribution,” said Jon Erik Engeset, CEO of Hexagon. “We wanted to team up with a strong Chinese industrial partner to secure the leading role in this development.”

BHP to acquire nickel project in Western Australia

BHP has said it will buy the Honeymoon Well Nickel Project in Western Australia’s Goldfields region, along with half of the exploration ventures Jericho and Albion Downs North, from Norilsk Nickel Australian Holdings’ subsidiary MPI Nickel. BHP’s Nickel West operation already owns half the Albion and Jericho joint ventures, and the whole acquisition is 50 km from BHP’s existing Mt Keith mine and 100 km from the firm’s concentrator.

https://www.bhp.com/media-and-insights/news-releases/2020/06/bhp-to-acquire-new-nickel-tenements-in-western-australia/

BHP has agreed to acquire the Honeymoon Well Nickel Project comprising the Honeymoon Well development project and a 50 per cent interest in the Albion Downs North and Jericho exploration joint ventures from MPI Nickel Pty Ltd, a wholly owned subsidiary of Norilsk Nickel Australian Holdings BV. BHP Nickel West is currently a 50 per cent shareholder in the Albion Downs North and Jericho Joint Ventures. The combined tenement package is located in the northern Goldfields region of Western Australia, approximately 50 kilometres from BHP’s Mt Keith mine and 100 kilometres from its Leinster concentrator. The package includes: The Wedgetail deposit, which contains a high-grade nickel sulphide resource. A high quality disseminated sulphide resource in the style of the Mt Keith and Yakabindie ore bodies. Completion of the agreement is subject to a number of conditions including government and third party approvals. BHP’s Nickel West Asset President, Eddy Haegel, said: “This is an exciting opportunity to enhance our world-class nickel resource base in Western Australia. Proximity to our existing facilities makes us the natural owners of these deposits, and provides potential options to bring the undeveloped resources to market.” “Nickel continues to be an essential input into new technologies that will improve the battery storage needed for renewables and electric vehicle manufacturing. Consistent with our strategy to invest in future facing commodities, this transaction gives us access to explore and develop these prospective nickel sulphide tenements.” Nickel West is a fully integrated mine-to-market nickel business. All nickel operations (open-cut and underground mines, concentrators, a smelter and refinery) are located in Western Australia, with the majority of production sold as high quality nickel metal to overseas markets.

Brexit: EU planning new rules to take UK’s £440bn derivatives business, says London Stock Exchange boss

The UK’s multi-billion pound clearing business, which processes £440bn daily, could be under threat following discussions among European Union officials to limit the amount of euro transactions performed outside the EU, according to London Stock Exchange chief executive, Xavier Rolet. Speaking to a House of Lord committee, Rolet said the loss of euro clearing could cost up to 100,000 jobs, "fragment the market" and force banks to hold an extra £70bn in margin. A cap on euro-denominated securities in the US is also being considered.

http://www.independent.co.uk/news/business/news/brexit-eu-law-to-take-uk-s-440bn-derivatives-clearing-london-stock-exchange-a7394341.html

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy notice Thanks for signing up to the Brexit and beyond email {{ #verifyErrors }} {{ message }} {{ /verifyErrors }} {{ ^verifyErrors }} Something went wrong. Please try again later {{ /verifyErrors }} EU officials have discussed new laws to undermine the UK’s multi-billion pound clearing business after Brexit, London Stock Exchange chief executive, Xavier Rolet told a House of Lords Committee. Financial transactions can currently be cleared anywhere in the world and London has a dominant position in the market, processing £440 billion of trades every day and supporting 100,000 jobs. But the EU is now considering limiting the amount of euro transactions that can be processed outside the EU, so that it can force the industry to move within its borders after Brexit, according to Rolet Millions of euro-denominated transactions are currently cleared in New York, but a cap on US trades is now being considered, so that similar restrictions can be placed on London when it is outside the EU, a move that could fatally undermine the industry. “I understand that some discussions have already originated in the EU for limiting the ability of US- based clearinghouses to clear euro-denominated securities by capping or somehow restricting their ability to engage meaningfully in their business,“ Rolet said. The loss of euro clearing would cost 100,000 UK jobs, fragment markets and force banks to tie up an extra £70 billion in “margin” or cash to back up trades. That money that could otherwise aid economic growth, Rolet said. If customers decided they cannot wait for the outcome of Britain's trade negotiations with the EU, then the “whole engine” of clearing across all major currencies in London would be at risk, he added. Business news: In pictures Show all 13 1 / 13 Business news: In pictures Business news: In pictures Flybe collapses Airline Flybe has collapsed. All future flights on the Exeter-based airline have been cancelled – leaving more than 2,300 staff facing an uncertain future, and wrecking the travel plans of hundreds of thousands of passengers. The chief executive, Mark Anderson, said: “Europe’s largest independent regional airline has been unable to overcome significant funding challenges to its business. AFP via Getty Business news: In pictures Future product placement will be 'tailored to individual viewers' Marketing executives say that product placement in films and televison shows on streaming services such as Netflix may be tailored to individuals in future. For instance, if data shows that a viewer is a fan of pepsi, a billboard in the background of a shot would host an advert for pepsi, while for a viewer known to have different tastes it could be for Coca-Cola Paramount Business news: In pictures Corbyn wishes Amazon a happy birthday In a card sent to Amazon CEO Jeff Bezos on the company's 25th birthday, Labour leader Jeremy Corbyn writes: "You owe the British people millions in taxes that pay for the public services that we all rely on. Please pay your fair share" Business news: In pictures No deal, no tariffs The government has announced that it would slash almost all tariffs in the event of a no-deal Brexit. Notable exceptions include cars and meat, which will see tariffs in place to protect British farmers Getty Business news: In pictures Fingerprint payment NatWest is trialling a new bank card that will allow people to touch their hand to the card when paying rather than typing in a PIN number. The card will work by recognising the user's fingerprint NatWest/PA Wire Business news: In pictures Mahabis bust High-end slipper retailer Mahabis has gone into administration. 2 Jan 2019 Mahabis Business news: In pictures Costa Cola Coca-Cola has paid £3.9bn for Costa Coffee. A cafe chain is a new venture for the global soft drinks giant PA Business news: In pictures RIP Payday Loans A funeral procession for payday loans was held in London on September 2. The future of pay day lenders is in doubt after Wonga, Britain's biggest, went into administration on August 30 PA Business news: In pictures Musk irks investors and directors Elon Musk has concluded that Tesla will remain public. Investors and company directors were angry at Musk for tweeting unexpectedly that he was considering taking Tesla private and share prices had taken a tumble in the following weeks Getty Business news: In pictures Jaguar warning Iconic British car maker Jaguar Land Rover warned on July 5, 2018 that a "bad" Brexit deal could jeopardise planned investment of more than $100 billion, upping corporate pressure as the government heads into crucial talks AFP/Getty Business news: In pictures Spotif-IPO Spotify traded publically for the first time on the New York Stock Exchange on Tuesday. However, the company isn't issuing shares, but rather, shares held by Spotify's private investors will be sold AFP/Getty Business news: In pictures French blue passports The deadline to award a contract to make blue British passports after Brexit has been extended by two weeks following a request by bidder De La Rue. The move comes after anger at the announcement British passports would be produced by Franco-Dutch firm Gemalto when De La Rue’s contract ends in July. The British firm said Gemalto was chosen only because it undercut the competition, but the UK company also admitted that it was not the cheapest choice in the tendering process. Business news: In pictures Beast from the east economic impact The Beast from the East wiped £4m off of Flybe’s revenues due to flight cancellations, airport closures and delays, according to the budget airline’s estimates. Flybe said it cancelled 994 flights in the three months to 31 March, compared to 372 in the same period last year. Clearing is a process whereby both parties to a transaction deposit collateral in a central institution, ensuring that transactions take place even when one party goes bust. It is seen as vital plumbing for the financial system and prevents a wave of defaults potentially causing a dangerous domino effect as happened during the financial crisis. It has become mandatory for most trades in the multi-trillion pound derivatives market. Francois Hollande has said euro clearing must move to the EU and the European Central Bank is expected to adopt the same position.

Number of police carrying Tasers in London set to rise to 10,000

The number of police officers on patrol with a Taser stun gun in London is to rise to 10,000 in a major surge in the Met’s firearms capacity. Road traffic and dog patrol officers, who will receive the weapons for the first time, will also be among those equipped with Tasers in recognition of what Scotland Yard believes is a growing level of unpredictable behaviour being seen on the streets. Cressida Dick says Tasers are a life-saving weapon. The increase means that about a third of the Met’s 30,000-plus officers will eventually have a Taser and that the number armed with the stun gun will have doubled since Ms Dick became commissioner.

https://www.standard.co.uk/news/uk/major-surge-in-police-tasers-on-london-streets-as-number-of-officers-carrying-weapon-set-to-rise-to-a4253216.html

T he number of police officers on patrol with a Taser stun gun in London is to rise to 10,000 in a major surge in the Met’s firearms capacity. The increase means that nearly every patrol will include at least one officer equipped with the weapon, which disables suspects by firing a powerful electric charge at their body. Many of the Tasers will be given to emergency response officers to help them protect the public and themselves when they are called to deal with violent incidents. Others will be handed to police on routine patrols in case they encounter aggressive suspects. Road traffic and dog patrol officers, who will receive the weapons for the first time, will also be among those equipped with Tasers in recognition of what Scotland Yard believes is a growing level of unpredictable behaviour being seen on the streets. Met Commissioner Cressida Dick said that Tasers are a life-saving weapon and that expanding their provision will enhance the police’s ability to deal with difficult incidents. Cressida Dick says Tasers are a life-saving weapon / Getty Images The increase means that about a third of the Met’s 30,000-plus officers will eventually have a Taser and that the number armed with the stun gun will have doubled since Ms Dick became commissioner. Examples of their use include when Pc Stuart Outten fired his while being struck with a machete during a routine traffic stop earlier this year. The Standard revealed this week that the hero officer was returning to frontline duties next month. Ms Dick emphasised that Tasers would be used with restraint, pointing out that most of those “red dotted”, or targeted, surrendered to police to avoid being hit. She added: “It is a very powerful, highly effective piece of equipment. We have very good decision-makers who are very restrained. On 83 per cent of the times when they red-dot someone they don’t fire. It has a fantastic effect in calming people down.” A date for hitting the target of 10,000 Taser officers has yet to be set. It represents a striking rise from the previously planned total of 6,800 by next April. Some London politicians have called for every officer to be equipped with a Taser, but Ms Dick said that about a quarter of her officers had indicated that they did not want one. She also said universal provision was unnecessary because not all officers were on the streets and those who were could receive rapid assistance from a Taser-equipped or armed officer if needed. She added that a “very high proportion” of patrols would include at least one officer with a Taser. Met statistics show that the weapons were drawn by an officer on 8,760 occasions in the 12-month period to the end of August this year. They were fired 777 times, representing a firing rate of 9 per cent, which is below the national average. On more than a third of the occasions when Tasers weren’t fired, the sight of the weapon being drawn was sufficient to calm the suspect. Just over half were “red-dotted” before ceasing their threatening behaviour. The Met now uses the X2 Taser which can fire two 50,000-volt charges, unlike earlier versions that discharged only one. Tasers were first given to firearms police in 2003 before being made available to other specially trained officers from 2007. They remain controversial because of the death of several people — including the former football star Dalian Atkinson, who died after a Taser was fired — although a definitive connection has yet to be established. The Home Office insists that the weapon, illegal for members of the public to possess, gives forces a useful means of defusing violent incidents. The extent of their provision is a matter for individual forces to decide. This year Northamptonshire police became the first force to announce that all its frontline officers will have Tasers. Listen to Martin Bentham discuss this story on the Evening Standard's new daily opinion podcast, The Leader, below. Loading.... Subscribe on Apple Podcasts, Spotify, Acast or wherever you get your podcasts. New episodes every weekday from 4pm.

The 10 most powerful cybersecurity companies

CISOs are looking for strategic partners, advisory services, and vendors that offer broad platforms. Accenture focuses on preparing businesses against the most advanced cyber adversaries. Cisco seems to be on the ascent, with a renewed emphasis on security and a strategy that puts it at the forefront.

https://www.csoonline.com/article/3531668/the-10-most-powerful-cybersecurity-companies.html

COVID-19 has changed the face of security forever. The perimeter defense model, which had been slowly crumbling, has now been shattered. Employees are working from home, many of them permanently. Applications are shifting to the cloud at an accelerating pace. Enterprise security today is all about secure remote access and protecting cloud-based assets. That means enterprises need to deploy SD-WAN, secure access service edge (SASE) and zero trust network access (ZTNA). Anyone who ever attended an RSA conference understands that cybersecurity vendors introduce hundreds of amazing, innovative products every year. But C-level execs aren’t looking for the flashiest new point products. Faced with a severe shortage of security professionals and up against rapidly evolving threats, CISOs are looking for strategic partners, advisory services, and vendors that offer broad platforms. They are also gravitating toward managed security services and cloud-based solutions. With that in mind, here’s our list of 10 security companies (presented in alphabetical order) that have made bold moves in the past year and have taken power positions within the cybersecurity community. Cisco Why they’re here: Through a series of strategic acquisitions (CloudLock, Viptela, Duo, and Thousand Eyes among the most notable) and its unparalleled ability to integrate new products into its core security and networking platforms, Cisco has staked out a leadership position in emerging security areas such as SD-WAN, zero trust and SASE. Gartner ranks Cisco as a visionary in its endpoint protection rankings, noting Cisco’s SecureX cloud-based service integrates security analytics, threat hunting and threat intelligence in a single view to investigate and respond to threats. Power moves: In May, Cisco bought Kenna Security, which provides risk-based vulnerability management technology. By the numbers: Despite Covid-related market and supply chain disruptions, Cisco’s annual security revenue increased 7% year over year to reach $3.3 billion. Outlook: Eric Parizo, a senior analyst at Omdia, describes Cisco’s security standing this way: “Cisco remains one of the strongest top-tier competitors in enterprise security today, particularly on the network side, but often overlooked are the tremendous strides Cisco has made in cloud security. Its Umbrella cloud-delivered security solution is one of the most popular and fastest-growing offerings in Cisco’s security division. When paired with its other cloud-based offerings including Threat Grid, Stealthwatch Cloud, and Duo, all of which Cisco is integrating with its other security solutions like its firewalls and network access control solutions, Cisco will remain a force to be reckoned with in enterprise security for some time.” Cloudflare Why they’re here: From its humble roots blocking denial of service attacks, Cloudflare built out one of the largest global content delivery networks and then caught the waves of cloud, mobility, and remote access to become a leader in cloud security. Frost & Sullivan says Cloudflare is an innovator in what it calls holistic web protection (DDoS mitigation, web application firewall, and bot risk management.) And the company isn’t sitting on its laurels, recently announcing an expansion beyond protecting the infrastructure that companies expose to the Internet to now cover internal employees who need to access internet-hosted applications. Power moves: Purchased S2 Systems, a Seattle-area startup that has built an innovative remote browser isolation solution unlike any other currently in the market. The technology will help protect endpoints from zero day attacks. By the numbers: With a successful IPO and revenue up 53% for its latest quarter, Cloudflare boasts a market cap of $38.5 billion. Outlook: Led by founder and CEO Matthew Prince, Cloudflare has a simple and powerful goal: To build a better internet. According to Frost & Sullivan, it is perfectly positioned to take advantage of the growing need for companies to secure websites and web applications. “Cloudflare’s security vision reflects the commitment to securing clients' infrastructure without performance tradeoffs. Cloudflare is a clear leader with respect to innovation,” adds Frost & Sullivan. CrowdStrike Holdings Why they’re here: As the center of gravity for enterprise security has migrated toward cloud-native endpoint and workload protection, threat intelligence and incident response, CrowdStrike has emerged as a leader with its Falcon platform. Gartner says CrowdStrike “has a strong reputation as the single solution for organizations looking to consolidate their endpoint protection and endpoint disaster recovery solutions.” In addition, CrowdStrike’s professional services “are highly rated and popular with customers who don’t have their own SOC/threat hunting teams and those wishing to augment their internal security,” says Gartner. Power moves: CrowdStrike acquired Preempt Security, a provider of zero-trust and conditional access technology for threat prevention and shelled out $400 million for Humio, a provider of high-performance cloud log management and observability technology. By the numbers: For the fiscal year-ending January 2021, revenue grew 82% to $874 million. Since its April 2019 IPO, CrowdStrike stock has shot up to around $230 a share, putting the current market cap at $52B. Outlook: “CrowdStrike began as a threat intelligence vendor and continues to stay out front,” says Forrester, with a strategy that includes expanding cloud, mobile, and vulnerability intelligence practices and continuing to invest in digital reconnaissance. Forrester adds, “Reference customers using CrowdStrike’s Falcon X Elite tier were extremely impressed with the level of service provided by the dedicated intelligence analysts.” Fortinet Why they’re here: Fortinet has evolved from a simple firewall vendor to a full-service security powerhouse that is staking out a leadership position in critical areas like SIEM (FortiSIEM), next-generation firewalls (FortiGate), SD-WAN, SASE and zero trust. Fortinet’s ever-expanding Fortinet Security Platform encompasses intrusion detection and response, web security, sandboxing, advanced endpoint, identity/multi-factor authentication, multi-cloud workload protection, cloud application security broker (CASB), browser isolation, and web application firewalling capabilities. Power moves: In December, Fortinet bought cloud-based IT operations management vendor Panopta. In March, Fortinet snapped up cloud and network security vendor ShieldX and in July Fortinet acquired continuous AppSec testing vendor Sken.ai. By the numbers: $34 million: The amount that Fortinet paid for Panopta. Outlook: Under the steady leadership of the brothers Xie (Ken and Michael), Fortinet has separated itself from the pack by designing its own ASICs and attempting, to the extent possible, to build an integrated, optimized security fabric from the ground up. For example, while its competitors bought startup SD-WAN vendors and struggled with integration, Fortinet built its own SD-WAN. The DIY approach can only take you so far, which is why Fortinet has gobbled up vendors who fill in the some of the holes in the company’s portfolio. But the Xies have Fortinet well positioned to take advantage of the shift from the perimeter security model to the new world of remote access, cloud and zero trust. IBM Why they’re here: With a world-class security operations center, an impressive array of security products, and a fully managed security service, IBM is a leader in enterprise-grade security. IBM’s security portfolio includes the industry leading QRadar SIEM, Guardium data protection and data leak platform, Trusteer fraud protection, X-Force Threat Intelligence, QRadar Network Insights for network detection and response and QRadar Vulnerability Manager. Power moves: In January, IBM acquired StackRox, a provider of container and Kubernetes-native security software. By the numbers: According to IBM’s annual data breach report, data breach costs rose from $3.86 million to $4.24 million, the highest average total cost in the 17-year history of the report. Outlook: The naming convention for IBM security products and services can sometimes be confusing: There’s the QRadar lineup. There’s the X-Force research and threat intelligence capability. There’s the Cloud Pak for Security platform. In March, IBM announced an expanded suite of services called IBM Security Services for Cloud. In any event, IBM security products and services are highly rated, and are aligned well with the company’s broader goal of driving hybrid cloud adoption. Mandiant Why they’re here: Mandiant has made a name for itself as the company you call when there’s been a serious breach and you need a team of highly trained experts to come in and lead your intrusion detection and response activities. Over the years, Mandiant expanded its offerings beyond consulting to include SaaS-based security validation, threat intelligence and managed detection and response. In 2013, security hardware vendor FireEye bought Mandiant (founded by Kevin Mandia). The combined company was still named FireEye, with Mandia as CEO. The marriage never really worked, and in June, Mandia announced the terms of the divorce: FireEye was being sold. Power moves: In this addition by subtraction power move, Mandia steps out from FireEye’s shadow and is able to focus exclusively on its core business in a completely vendor neutral way. By the numbers: $1.2 billion: The amount that a consortium led by Symphony Technology Group (STG) paid for FireEye’s product portfolio of threat detection tools. Outlook: According to Forrester analysts Jeff Pollard, Brian Kime, and Joseph Blankenship, “The relationship between the two sides of the business was never equal, and eventually, Mandiant recognized that legacy FireEye solutions were holding it back.” Forrester adds that “Mandiant seems to be in position to continue its forward momentum by streamlining itself. The split will allow Mandiant to capitalize on its intelligence-driven services and grow the managed defense business.” Microsoft Why they’re here: Leveraging its massive installed base of Windows, Office, and Active Directory customers, Microsoft has built a security platform that integrates with its software portfolio and extends to its Azure cloud. Microsoft offers endpoint protection, identity and access management, security information and event management (SIEM), threat detection, web application gateways and a variety of Azure-based cloud security services. By the numbers: $10B: In January, Microsoft said it had generated more than $10 billion in security revenue in the previous 12 months, up more than 40% year over year. Power moves: Microsoft continues to fill in the gaps in its security portfolio with the recent purchases of RiskIQ and CloudKnox. Outlook: By embedding Microsoft Defender into Windows, Microsoft is able to get a leg up on third-party security vendors. In the past, competitors could argue that their tools were superior to the security features provided by Microsoft. But that’s no longer the case. For example, Gartner rates Microsoft as a leader in endpoint protection and a visionary for its SIEM product, Azure Sentinel. “Both Defender for Endpoint and the protection engines built into Windows 10 have evolved exponentially throughout the year, along with the addition of new capabilities in each release of Windows to create a holistic set of security layers,” says Gartner. The Microsoft security platform is cloud-based and the company is set up to accommodate organizations moving more of their applications securely to the cloud. Palo Alto Networks Why they’re here: The largest pure-play security vendor (annual revenue of $4.3 billion, up 25% year-over-year), Palo Alto Networks has been driving innovation ever since it shook up the industry with the first next-generation firewall back in 2007. Today, Palo Alto sports a broad range of cloud-based security products and services. Forrester ranks Palo Alto as a leader in zero trust. And Forrester’s evaluation of endpoint security states that the Palo Alto offering “is the most comprehensive in this study, offering threat prevention, detection, and access controls spanning endpoint, IoT, network, and cloud apps.” Power moves: In November, Palo Alto Networks announced its intent to acquire attack surface management vendor Expanse for $800 million. In February 2021, Palo Alto Networks bought cloud security company Bridgecrew for around $156 million. By the numbers: 14: The number of Palo Alto acquisitions over the past four years. Outlook: Palo Alto stock jumped recently when the company announced that its buying spree was over, at least for the time being. The company plans to continue to integrate recent acquisitions into its product lines and take advantage of the headwinds associated with the increasingly dangerous security environment that enterprises are facing. Jefferies analyst Brent Thill says, “We believe that the leader in network security remains well-positioned to meet customer needs in a hybrid world given its formidable investments in cloud security.” Mizuho analyst Gregg Moskowitz adds that Palo Alto “easily possesses the strongest array of cloud assets among traditional network security vendors.” Rapid7

SEC and DOJ file fraud charges against ex-KPMG and PCAOB execs

Five accountants, including three ex-KPMG partners and two previously employed by the audit industry regulator, have been indicted on charges of conspiracy and fraud filed by the SEC and DoJ. It is alleged that between 2015 and 2017, three ex-Public Company Accounting Oversight Board (PCAOB) executives, two of whom were subsequently employed by KPMG during that period, provided confidential information about audits earmarked for review by the PCAOB to the KPMG partners. One of the three ex-PCAOB employees already pleaded guilty. The KPMG employees were all “separated” from the firm in March/April 2017 shortly after the discovery of the misconduct. [awaiting WSJ copy from Becci, Angus]

https://www.justice.gov/usao-sdny/pr/5-former-kpmg-executives-and-pcaob-employees-charged-manhattan-federal-court-fraudulent

Geoffrey S. Berman, the United States Attorney for the Southern District of New York, and Philip R. Bartlett, the Inspector-in-Charge of the New York Office of the U.S. Postal Inspection Service, announced the unsealing yesterday of an Indictment in Manhattan federal court charging DAVID MIDDENDORF, THOMAS WHITTLE, and DAVID BRITT, former executives of accounting firm KPMG LLP (“KPMG”), CYNTHIA HOLDER, a former employee of KPMG and the Public Company Accounting Oversight Board (the “PCAOB”), and JEFFREY WADA, a former employee of the PCAOB, with conspiracy and wire fraud charges in connection with their scheme to defraud the Securities and Exchange Commission (the “SEC”) and the PCAOB by obtaining, disseminating, and using confidential lists of which KPMG audits the PCAOB would be reviewing so that KPMG could improve its performance in PCAOB inspections. MIDDENDORF was arrested yesterday morning in Marietta, Georgia, and was presented before a Magistrate Judge in Atlanta. HOLDER was taken into custody yesterday morning in Houston, Texas, and presented before a Magistrate Judge in Houston. WADA was arrested yesterday morning in Tustin, California, and presented before a Magistrate Judge in Santa Ana. WHITTLE was arrested yesterday morning in Gladstone, New Jersey. BRITT surrendered yesterday morning in New York, New York. WHITTLE and BRITT were presented and arraigned before Magistrate Judge Andrew J. Peck in Manhattan federal court. The case is assigned to U.S. District Judge John Paul Oetken. BRIAN SWEET pled guilty to conspiracy and wire fraud charges in connection with this scheme before Magistrate Judge Robert W. Lehrburger on January 5, 2018. The Information to which Sweet pled guilty was also unsealed yesterday. His case is assigned to U.S. District Judge Katherine B. Forrest. Manhattan U.S. Attorney Geoffrey S. Berman said: “These defendants were each meant to be the watchmen of our financial system. The defendants who formerly worked for KPMG were vested with the responsibility to audit publicly filed financial statements and issue audit opinions relied upon by the investing public. The defendants who formerly worked for the PCAOB were supposed to help ensure the quality of the work behind those audits. But, as alleged, these defendants chose to cheat the system and to undermine the safeguards put in place to protect investors. We will work tirelessly with our law enforcement partners to root out corruption like this wherever it is found.” Inspector-in-Charge Philip R. Bartlett said: “As alleged, the defendants took advantage of confidential information stolen from the PCAOB and used it to tip off KPMG partners of impending audit inspections. This undermined the overall integrity of the program. The PCAOB was created by Congress as part of the Sarbanes Oxley Act to reduce accounting scandals but, in this case, certain former employees and KPMG insiders created their own corruption scandal. The Postal Inspection Service stands committed to helping to ensure the integrity of information that affects the marketplace.” As alleged in the Indictment unsealed today in Manhattan federal court: The PCAOB is a nonprofit corporation overseen by the SEC that inspects the audit work performed by registered accounting firms (“Auditors”) with respect to the financial statements of publicly traded companies (“Issuers”). The PCAOB inspects the largest U.S. accounting firms on an annual basis. As part of the inspection process, the PCAOB chooses a selection of audits performed by the accounting firm for a closer review. Until shortly before an inspection occurs, the PCAOB does not disclose which audits are being inspected, or the focus areas for those inspections, because it wants to ensure that an Auditor does not perform additional work or modify its work papers in anticipation of an inspection. Following the completion of an inspection, the PCAOB issues an Inspection Report containing any negative findings or “comments” with respect to both the specific audits reviewed and the accounting firm more generally. The PCAOB transmits these Inspection Reports to the SEC, which utilizes them in carrying out its agency functions. KPMG is one of the largest accounting firms in the world. In recent years, KPMG fared poorly in PCAOB inspections and in 2014 received approximately twice as many comments as its competitor firms. By at least in or about 2015, KPMG was engaged in efforts to improve its performance in PCAOB inspections, including but not limited to recruiting and hiring former PCAOB personnel such as SWEET. At the time, MIDDENDORF was head of KPMG’s Department of Professional Practice (the “DPP”), which was broadly responsible for the quality of KPMG’s audits and KPMG’s performance in PCAOB inspections. BRITT was a partner in the audit group within the DPP and WHITTLE was head of the inspections group within the DPP. KPMG’s efforts to improve inspection results, however, were not limited to legitimate means. Instead, between 2015 and 2017, MIDDENDORF, WHITTLE, BRITT, HOLDER, WADA, and SWEET worked to illicitly acquire valuable confidential PCAOB information concerning which KPMG audits would be inspected, in an effort to game the system and improve inspection results. For example, beginning in SWEET’s first week of employment at KPMG in 2015, MIDDENDORF, WHITTLE, and BRITT began asking SWEET for confidential PCAOB information about which KPMG audits would be inspected by the PCAOB that year. MIDDENDORF told SWEET to remember where his paycheck came from and to be loyal to KPMG, while WHITTLE told SWEET that he was most valuable to KPMG at that moment and would soon be less valuable. As requested, SWEET shared the PCAOB’s confidential 2015 list of inspection selections. Shortly thereafter, SWEET helped his former PCAOB colleague, HOLDER, get a job at KPMG, where she reported to SWEET. During the pendency of her efforts to obtain employment at KPMG, HOLDER – in violation of PCAOB Rules – continued to work on KPMG inspections at the PCAOB. Once she secured a job at KPMG, HOLDER, like SWEET before her, stole valuable confidential information on her way out of the PCAOB and then passed it on to SWEET, her new boss at KPMG. In March 2016, HOLDER obtained the PCAOB’s confidential 2016 inspection selections for KPMG from WADA, who was still working at the PCAOB but who had recently been passed over for a promotion. WADA – who was not responsible for KPMG inspections at the PCAOB – accessed and stole valuable confidential information from the PCAOB and passed it on to HOLDER. HOLDER, in turn, provided the 2016 inspection selections to SWEET, who passed them to MIDDENDORF, WHITTLE, and BRITT. MIDDENDORF, WHITTLE, BRITT, and SWEET then agreed to launch a stealth program to “re-review” the audits that had been selected. In order to cover up their illicit conduct, BRITT gave other KPMG engagement partners a false explanation for the re-reviews. The stealth re-review program allowed KPMG to double-check its audit work, strengthen its work papers, and, in some cases, identify deficiencies or perform new audit work that had not been done during the live audit. In January 2017, WADA, who had again been passed over for promotion at the PCAOB, again stole valuable confidential PCAOB information, misappropriating a preliminary list of confidential 2017 inspection selections for KPMG audits and passing it on to HOLDER. At the same time, WADA provided HOLDER with his resume and sought her assistance in helping him to acquire employment at KPMG. SWEET shared the preliminary inspection selections provided by WADA with WHITTLE and BRITT, while noting that the information was only preliminary. WHITTLE’s response was to ask SWEET to confirm that they would get the final list as well. In February 2017, WADA texted HOLDER saying “I have the grocery list. . . . All the things you’ll need for this year.” WADA then spoke to HOLDER and provided her with the full confidential 2017 final inspection selections. HOLDER again shared the stolen information with SWEET, who shared it with MIDDENDORF, WHITTLE, and BRITT. MIDDENDORF, WHITTLE, BRITT, and SWEET agreed to inform engagement partners on the list so that extra attention could be paid to these audits in light of the forthcoming PCAOB inspections. In 2017, a KPMG partner who received early notice that his/her engagement was on the confidential 2017 inspection list reported the matter, as a result of which KPMG’s Office of General Counsel launched an internal investigation. Thereafter, HOLDER and SWEET took a number of steps to destroy or fabricate evidence relevant to the investigation. For example, HOLDER deleted a number of relevant text messages, emails, and documents, and said she was going to purchase a “burner phone” so her conversations could not be monitored. Similarly, SWEET burned evidence of the 2017 inspection list and provided a falsified version of the list to KPMG counsel. Count One of the Indictment charges MIDDENDORF, WHITTLE, BRITT, HOLDER, and WADA with participating in a conspiracy to defraud the United States. Count Two charges MIDDENDORF, WHITTLE, BRITT, HOLDER, and WADA with participating in a conspiracy to commit wire fraud. Count Three charges MIDDENDORF, WHITTLE, and BRITT with wire fraud. Counts Four and Five charge MIDDENDORF, WHITTLE, BRITT, HOLDER, and WADA with wire fraud. * * * Set forth below is a chart containing the names, ages, residences, charges, and maximum penalties for the defendants. The maximum potential sentences are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendants will be determined by the judge. Mr. Berman praised the investigative work of the United States Postal Inspection Service and also thanked the Securities and Exchange Commission, which has brought an administrative proceeding against the defendants. Mr. Berman also thanked Trial Attorney Heidi Boutros Gesch of the Department of Justice’s Public Integrity Section for her assistance in the investigation. This case is being handled by the Office’s Securities and Commodities Fraud Task Force. Assistant U.S. Attorneys Rebecca Mermelstein, Amanda Kramer, and Jessica Greenwood are in charge of the prosecution. The charges contained in the Indictment are merely accusations, and the defendants are presumed innocent unless and until proven guilty.

Yemen's warring sides urged to prevent environmental disaster

The United Nations is urging the warring sides in Yemen to work together to prevent a potential environmental disaster. A stricken oil tanker moored near the city of Hodeidah is slowly leaking more than a million barrels of oil. There are fears it could all spill into the Red Sea by next month.

https://www.aljazeera.com/news/2020/08/yemens-warring-sides-urged-prevent-environmental-disaster-200823140841829.html

A stricken oil tanker moored near the city of Hodeidah is slowly leaking more than a million barrels of oil. The United Nations is urging the warring sides in Yemen to work together to prevent a potential environmental disaster. A stricken oil tanker moored near the city of Hodeidah is slowly leaking more than a million barrels of oil. And, as Al Jazeera’s Mohammed al-Attab reports, there are fears it could all spill into the Red Sea by next month.

Burford Capital shares jump 20 per cent on anticipated payouts

Shares in Burford Capital rose 20% today as it predicted a spike in litigation in the aftermath of the coronavirus pandemic. In its annual report, Burford said: “Economic downturns produce litigation claims… [Burford] expects to see significant amounts of litigation, and meaningful demands for capital, over the next several years.” Burford’s chief executive Christopher Bogart described 2019 as a “spectacular year” for the business, despite its share price crashing 55% from 1,602p at the end of 2018 to 708p at the end of 2019.

https://www.cityam.com/burford-capital-shares-jump-as-it-predicts-coronavirus-litigation-boom/amp/

AMP and Axa offer £8.2bn in a second bid for Axa’s Asian unit AUSTRALIAN wealth manager AMP launched a fresh £8.15bn bid for Axa Asia Pacific Holdings yesterday in a joint deal with French parent Axa, a year after its original approach. The move comes after rival bidder National Australia Bank pulled out of a deal to buy Axa’a Asian unit after the Australian competition regulator blocked the deal. The complex deal will allow Axa to exit Australia and help it to focus on its stated goal of growing in Asia, where businesses in eight countries contributed 60 per cent of its operating earnings in the first half of 2010. AMP will pay A$4.15bn (£25.6bn) for Axa Asia Pacific’s Australian and New Zealand business, while Axa will pay A$10.4bn for the Asian assets, including taking over A$1.3bn in debt.

COVID-19: What it means for industrial manufacturing

Over 80% of manufacturers expect that the pandemic will impact their business financially. This is because many manufacturing jobs are on-site and cannot be carried out remotely, and slowed economic activity has reduced demand for industrial products in the US and globally. Safeguarding workforce health is top priority, meaning plant closures (full or partial) for manufacturers for a prolonged period. This would be a critical time for companies to explore a proactive deployment of automation technologies to decrease worker density throughout their operations.

https://www.pwc.com/us/en/library/covid-19/coronavirus-impacts-industrial-manufacturing.html

New technologies are changing the face of manufacturing

Australian SNG producer SGG raises AUD600,000 in equity sale

Australian renewable natural gas developer Southern Green Gas (SGG) has raised AUD600,000 ($437,000) to back solar powerfuels, its solar-powered hydrogen production technology. Artesian Venture Partners and the Victorian Clean Technology Fund backed the fundraising. The equity capital will be used to scale up the firm’s renewable methane, or synthetic natural gas (SNG), and methanol production. Renewable methane is the best carrier of hydrogen, SGG said, adding that its production could help Australia to become one of the Asian market’s top three hydrogen suppliers by 2030 and bring the hydrogen price to below AUD2 per kg.

https://bioenergyinternational.com/markets-finance/southern-green-gas-receives-backing-from-leading-venture-capital-groups

Australian renewable natural gas (RNG) project developer Southern Green Gas Ltd (SGG) has announced that it has completed an equity capital raise of AU$600 000 to accelerate the development of its breakthrough renewable gas technology that aims to establish a new market for Australia’s clean energy. Only logged in payed subscribers can read all contents on bioenergyinternational.com We could not ascertain if you are logged in or not. Please reload this page. You are logged in as subsbriber at Bioenergy International, but something is wrong.On your profile you can see what subscriptions you have access to and more information.Is some of the information wrong – please contact our customer service Using green hydrogen produced with Australia’s abundant solar resources, the technology – dubbed solar powerfuels – has, the company says, the potential to create a new export industry for Australia while addressing the country’s fuel security challenges. Leading venture capital investors Artesian Venture Partners (Artesian) and Victorian Clean Technology Fund (VCTF) participated in the capital raise which will advance Southern Green Gas’ product and market development activities as it looks to scale renewable methane (aka synthetic natural gas – SNG) and methanol production in Australia. Artesian is Australia’s largest and most active early-stage venture capital firm. Through its Clean Energy Seed Fund, Artesian, in collaboration with the government-owned green bank, Clean Energy Finance Corporation (CEFC), is investing in novel clean technology companies, with Southern Green Gas the latest addition to its portfolio. VCTF, which similarly targets clean technology enterprises, aims to commercialise solutions that address significant environmental and resource issues such as greenhouse gas emissions. The support for Southern Green Gas aligns with its investment mandate. Southern Green Gas is one of the key initiatives in exploring the challenges of creating new fuel sourced from renewable energy. VCTF is pleased to be involved in supporting this promising technology and the team behind it, said Joseph Younane, VCTF Chair. Timely funding Southern Green Gas’ expansion of its activities comes at an important point for the advancement of clean energy in Australia and hydrogen in particular, with governments at all levels prioritising the development of a hydrogen industry aiming to create a new export commodity. In May 2020, the company secured a total of AU$2.2 million from the Australian Renewable Energy Agency (ARENA) and APA Group to develop an SNG demonstration project at an APA gas hub in Queensland (QLD). The investment by Artesian and VCTF further supports the confidence Southern Green Gas has in its technology, which leverages existing infrastructure to deliver clean fuels for use domestically and for export, said Rohan Gillespie, Managing Director, SGG. According to SGG, renewable methane is the most effective hydrogen carrier and presents an enormous opportunity for Australia to reach its national objective to be a top-three supplier of hydrogen into Asian markets by 2030 and realise its economic stretch target – “H2 under 2” or hydrogen under AU$2 per kilogram. By 2050, it is anticipated that the Australian hydrogen industry could create around 7 600 new jobs and up to AU$11 billion a year in additional Gross Domestic Product (GDP).

BGU researcher develop's 'One Minute' coronavirus test.

An Israeli researcher from Ben-Gurion University of the Negev (BGU) says he developed and is now confirming the validity of a COVID-19 test that identifies carriers through collected samples from a breath test or throat and nose swabs in under one minute. According to a university statement this week, the test has shown accuracy of over 90 percent compared to the PCR (polymerase chain reaction) tests currently being used to identify COVID-19 carriers.

https://nocamels.com/2020/05/bgu-researchers-one-minute-coronavirus-test/

An Israeli researcher from Ben-Gurion University of the Negev (BGU) says he developed and is now confirming the validity of a COVID-19 test that identifies carriers through collected samples from a breath test or throat and nose swabs in under one minute. According to a university statement this week, the test has shown accuracy of over 90 percent compared to the PCR (polymerase chain reaction) tests currently being used to identify COVID-19 carriers. The test is also said to be available at a significantly lower cost than current testing, according to Prof. Gabby Sarusi, deputy head for research at the School of Electrical and Computer Engineering and a faculty member of the Electro-Optical Engineering Unit at BGU, who developed the test. Clinical trials of the new method were conducted on 120 subjects by BGU and Israel’s Ministry of Defense, the university said. The ongoing trials aim to discover whether the test can identify the specific stage of COVID-19 infection and its presence. “Right from the beginning of the trials, we received statistically significant results in line with our simulations and PCR tests,” said Prof. Sarusi. “We are continuing clinical trials and will compare samples from COVID-19 patients with samples from patients with other diseases to see if we can identify the different stages of the COVID-19 infection,” he added. The test involves particles from a breath test or a throat and nose swab which are placed on a chip with a dense array of metamaterial sensors designed for this purpose. The system analyzes the biological sample and provides an accurate positive or negative result within a minute through a cloud-connected system. Sign up for our free weekly newsletter Subscribe The method is based on an electromagnetic wave known as terahertz (THz) radiation and detects changes in the sample that are caused by the presence of the virus. It focuses on a change in the resonance in the THz spectral range, imposed by the coronavirus through a THz spectroscopy performed on the device, the university said, adding that this spectral range has been employed in recent decades for the fast detection and identification of biological samples. The point-of-care device automatically backs up the results into a database that can be shared by authorities, making it easier than ever to track the course of the virus, as well as triage and treat patients, according to the researcher. “We asked ourselves since this virus is just like a nano-particle or a quantum dot with a diameter between 100nm to 140nm in terms of its size and electrical properties, can we detect it using methods from the worlds of physics, photonics and electrical engineering,” said Prof. Sarusi. “We discovered that the answer is yes, this virus resonates in the THz frequency, and spectroscopy in these frequencies reveals it promptly.” Each test kit will cost between $50 to $100 to produce, the university says, which is “far less than current laboratory testing.” Also, because the test is electro-optical in nature, rather than biochemical, it is not sensitive to environmental factors that can affect the results of current testing methods. Last month, researchers from the Hebrew University of Jerusalem claimed they had developed a testing method for COVID-19 that they said is up to 10 times faster and more cost-effective than the methods used previously to identify the novel coronavirus. The test relies on the existing process to extract genetic material (RNA and DNA) using magnetic beads, but uses a special buffer solution to accelerate and ameliorate binding. The BGU testing method seeks to avoid the current common method of amplifying and identifying viral RNA sequences because they depend on costly reagents and biochemical reactions, often require logistically complicated shipping and handling of sensitive materials, and can often take hours or days to yield results.

IWG, formerly Regus Investec provides funding for co-workspace

Investec Structured Property Finance has loaned The LabTech Group £72m ($96m) to construct a 140,000 sq ft mixed-use development at Camley Street, King's Cross in London. The loan includes £29m arranged through Bank HaPoalim. The development has received planning permission for 121 one, two and three-bed apartments and 29,000 sq ft of co-working space, operated by LABS LIVE and LABS co-working platform respectively. The development is expected to be completed in 2020. Kings Cross Central is becoming an attractive location for creative companies, with Google, YouTube and Louis Vuitton among residents.

https://bridgingloandirectory.co.uk/investec-arranges-72m-loan-to-fund-residential-and-co-working-development-in-kings-cross/

Investec Structured Property Finance (“Investec”) announces that it has provided The LabTech Group, the Digital and Real Estate Development and Investment business owned by Israeli billionaire Teddy Sagi, with a £72mn loan to fund the development of a major 140,000 sq ft mixed-use scheme in King’s Cross, London. Alongside Investec’s £43mn commitment, £29mn of debt has been arranged with Bank HaPoalim, Israel’s largest bank, as Investec continues to structure club deals and leverage other balance sheets for the benefit of its clients. This year, Investec has already arranged over £400mn of development finance, across projects that will deliver 1,150+ new units, demonstrating its ongoing commitment to support its clients with innovative solutions. This scheme is located on Camley Street, adjacent to King’s Cross Central, Europe’s largest regeneration project, where planning consent has been granted to develop 121 one, two and three-bed luxury apartments and 29,000 sq ft of co-working space. The apartments will be let and operated by LABS LIVE, and the flexible office space will be provided under the LABS co-working platform. LABS LIVE and LABS are Sagi’s respective PRS and co-working platforms and this transaction represents the first scheme where they will come together to offer customers a residential and working solution. Initial works have commenced on the scheme and practical completion is expected in 2020. King’s Cross Central’s appeal as one of London’s most desirable creative hubs has seen the arrival of major occupiers including Google, YouTube, and Louis Vuitton, alongside the University of the Arts, Central Saint Martins Campus. It benefits from its close proximity to St Pancras International national rail, the Eurostar and several tube lines. Last month, Investec raised £195m for the Cain International led consortium the Stage Shoreditch LLP to fund development the Stage, the 550k sq ft mixed use scheme in Shoreditch with an anticipated GDV of £750m. The funds raised were part of a £390mn club with 5 lenders where Investec provided a £97.5m commitment of its own alongside arranging £97.5m from Harel, the Israeli insurance group. Lloyds acted as co-ordinator of the facility. Investec has a long-standing relationship with the Stage Shoreditch LLP, having funded the 2.3 acre site acquisition in 2015 with a £105mmn loan and are an investor in the scheme. Simon Brooks, co-head of origination at Investec, commented; “We’ve been working hard to build strategic partnerships with like-minded lenders so that we can support our clients beyond the scope of our own balance sheet. 101 Camley Street and The Stage represent two substantial transactions being pursued by leading entrepreneurs. We are glad that with the relationships we have built with other lenders such as Bank HaPoalim and Harel, we have been able to build on our capability and support our clients.” Joshua Weinstein, at Investec, who ran the transaction, added; “With a track record of supporting entrepreneurs in adding and creating value through the delivery of high-quality schemes in prime locations, we look forward to building a long-lasting working relationship with Teddy Sagi and supporting the growth of his diverse real estate portfolio. 101 Camley will be a pioneering scheme, offering LABS customers a diverse range of services across the spectrum of co-working and living needs. We are excited about being a part of this endeavour, and assisting our client in expanding these platforms.” Chen Moravksy, President and CEO of The LabTech Group, commented: “This is a very exciting project for The LabTech Group, creating another valuable LABS ecosystem for co-working, living and events. We are delighted to be working with Investec on this project and look forward to a long and beneficial relationship.”

Tories accused of trumpeting discipline instead of investing in schools

“The Conservative government would rather kick kids out of school and advocate the use of the ambiguously termed ‘reasonable force’ as discipline, which will cause parents, children and teachers additional stress, rather than actually putting the time and investment in to ensure all children receive a good education and have a positive experience within our schools.”The shadow education secretary, Angela Rayner, said: “Time after time, Boris Johnson has backed Tory cuts to school budgets that created the crisis in our classrooms, while slashing taxes for the richest.“The next Labour government will fully reverse Tory cuts to our schools, increasing per pupil funding in real terms and offering a real terms pay rise to both teachers and support staff.”

https://www.theguardian.com/education/2019/aug/28/tories-accused-of-trumpeting-discipline-instead-of-investing-in-schools

Ministers have been accused of trying to act tough over proposed education reforms that would emphasise excluding unruly children from schools and using “reasonable force” against them. The plans are outlined in leaked documents seen by the Guardian that also set out government plans to announce within days billions of pounds in new funding and a further wave of free schools. “We know the role that school exclusions have played in the rise of knife crime, but once again the Tories are trying to sound tough whilst failing to look at the evidence,” said the Liberal Democrat education spokeswoman, Layla Moran. “The Conservative government would rather kick kids out of school and advocate the use of the ambiguously termed ‘reasonable force’ as discipline, which will cause parents, children and teachers additional stress, rather than actually putting the time and investment in to ensure all children receive a good education and have a positive experience within our schools.” Richard Crellin, the policy manager at the Children’s Society, said the charity was deeply concerned at any policy that made exclusions easier. “We know that excluded pupils can be targeted by criminal gangs and exclusion is often linked to unmet mental health needs.” The documents also include plans for a £3.5bn funding announcement and proposals to increase teachers’ basic pay. While the measures will be broadly welcomed, some observers will want to know how much of the money is new. The documents also suggest that No 10 wants to cut the number of teaching assistants. The shadow education secretary, Angela Rayner, said: “Time after time, Boris Johnson has backed Tory cuts to school budgets that created the crisis in our classrooms, while slashing taxes for the richest. Johnson shows no sign of taking the action needed to undo that damage, and isn’t even proposing to reverse the Conservatives’ cuts to schools since 2010. “It is concerning that this leaked document shows senior Tories casting doubt on the value of teaching assistants and suggesting that more cuts are on the way, despite the vital work they do, such as supporting children with special education needs. “The next Labour government will fully reverse Tory cuts to our schools, increasing per pupil funding in real terms and offering a real terms pay rise to both teachers and support staff.” Moran largely agreed, saying: “Schools will await this announcement with a mixture of expectation and dread. They had already been promised more funding in the final days of Theresa May’s premiership, only to see the money disappear in a puff of smoke. This time, Boris Johnson must put his money where his mouth is. “Headteachers will be desperate to know what this means for frontline budgets meanwhile, the Conservatives’ ideological obsession with academies will continue. Schools will waste thousands of pounds being forced against their will to convert to a new structure that will do nothing to improve pupils’ life chances.” The Labour MP, Bill Esterson, tweeted:

The experience of wearing a heart monitor

Nowadays there are more and more medical technologies which can be used for advanced imaging and testing, some can be helpful and for others it can be more wasteful. When used on a community with the correct risk factors then it can save lives, however if used to a community with limited health concerns, then it isn't very helpful and will just increase healthcare bills.

http://www.nytimes.com/2015/09/15/upshot/what-i-learned-while-wearing-a-heart-monitor.html?partner=rss&emc=rss&_r=1

The health economists Amitabh Chandra and Jonathan Skinner tell a cautionary tale about medical technologies like advanced imaging and testing. Some are valuable for some people but are used in a great many more for whom it is wasteful. When applied to the population with the right risk factors, various tests of the heart can save lives. When applied to a population at very low risk, a great deal of it does little but add to our health care bill, waste patients’ time and lead to unnecessary procedures, which carry their own risks. After the exchange of a few emails, my doctor ordered an at-home, 30-day heart monitor. It’s a marvel of modern technology. Electrodes on my chest fed my heart’s rhythm, over wires, to a recorder on my belt, which wirelessly communicated the data to my physician. With onboard software, it continuously monitored for signs of a heart attack. As amazing as this technology is, it wasn’t amazing enough. The wires tickled my torso and puffed out my shirt. The bulk of the recorder on my belt poked my waist, hampering movement. I felt concerned looks whenever the monitor was in plain view. It was hard to forget I was a patient. I felt tethered to, not freed by, technology. These inconveniences were like small physical and psychological co-payments, increasing the cost of the test to me, the patient. The cost proved too high, particularly since I was uncertain that I even needed 24/7 monitoring. (I mean the psychological costs, although my insurance company was billed about $2,200, of which it only paid about $100. My copay was $40). Within a day, I unplugged and immediately felt liberated. (Have no fear, I subsequently plugged back in when I felt the double beat and captured the recording that would confirm my doctor’s original diagnosis: benign.) Technology improvements will reduce inconveniences like these to patients. Eric Topol, a cardiologist and director of the Scripps Translational Science Institute, imagines such a future. Technology will advance so that we will soon be able to unobtrusively monitor a wide range of our bodies’ processes — heart rhythm, blood pressure, blood sugar and more — generating streams of personal health data. Even today, my heart’s rhythm could have been assessed with a Band-Aid-like patch, requiring no wires or bulky monitor.

US embassies being trained to use bitcoin

US secretary of State John Kerry has hinted bitcoin may be included in the training curriculum for foreign service officers in US embassies around the world. He said that there were already 139 digital officers but stopped short of confirming bitcoin's inclusion in training when asked directly. "That's the curriculum we've put together. I mean, I haven't asked - there's a lot of uncertainty with bitcoin or whatever..." he said, laughing.

https://www.cryptocoinsnews.com/bitcoin-training-foreign-embassy-officers-says-john-kerry/

Looking for a job as a U.S. embassy officer offshore? A crash course on bitcoin first. While fleeting in his comments, the U.S. Secretary of State John Kerry has hinted that the government plans to train officers in embassies around the world about bitcoin. Bitcoin may soon be a part of the curriculum imparted on foreign service officers stationed at embassies around the world, according to U.S. Secretary Kerry. The official was talking during a recent appearance at a Silicon Valley gathering during the Virtuous Circle Conference. The topics of the conference were centered around subjects of cybersecurity and the wave of digitization sweeping across various facets of everyday life. The moderator of the event sought to explore the U.S. government’s technology directive after the former Democratic presidential candidate revealed that there is currently a digital officer, in U.S. embassies. “We’ve got 139 digital officers now in embassies around the world,” Kerry said. To this, the moderator further questioned if foreign officers at embassies are – in the current era – trained beyond the staple economics and international affairs. The moderator asked: Do you think we are now moving into an era where a foreign officer needs to be able to speak with fluency about Bitcoin and dark web the same way they do talk about international law today? Kerry replied in the affirmative, which then had the moderator press on, questioning if the State Department was collectively pushing for training modules that includes bitcoin awareness. He replied: Yes. That’s the curriculum we’ve put together. I mean, I haven’t asked – there’s a lot of uncertainty with Bitcoin or whatever… The official transcript from the State departments’ website reveals laughter following Kerry’s mention of bitcoin. Whether snide or the simple incredulity from a gathering of software and technology professionals hearing the mention of bitcoin from one of the highest powers in U.S. elected office, the context for the laughter is unknown. What is happening, however, is that Washington -if not embassy officers yet – is gaining awareness of bitcoin, cryptocurrencies and blockchain technologies. Late last month, Washington D.C.-based non-profit and advocacy group Coin Center helped establish the Congressional Blockchain Caucus. The member organization is a bipartisan effort that will focus on the “advancement of sound public policy toward cryptocurrencies and other blockchain-based technologies,” as reported on earlier. Just over a month from now, the U.S. Securities and Exchange Commission will be hosting a public Fintech forum where blockchain technology will be very much among the topics of discussion. Images from Shutterstock and Wikimedia.

Kingfisher Homebase hires THG to accelerate ecommerce transformation

Homebase has joined forces with THG Ingenuity, the e-commerce operation of The Hut Group, to develop its online shopping offering. A new website offering design tools and “before and after” pictures is set to be launched by Spring 2021, alongside new payment options including Google Pay and PayPal. Homebase added that the website would also offer AI-backed customer recommendations.

https://www.insightdiy.co.uk/news/homebase-signs-long-term-deal-with-the-hut-group/8846.htm

Homebase Signs Long Term Deal with The HUT Group Homebase, one of the UK's leading home and garden retailers, today announces a ten-year partnership with e-commerce specialist The Hut Group (THG) and its ecommerce services division, THG Ingenuity, to transform the online shopping experience for customers. This partnership builds on the extensive investment already made in product range and inspirational shopping experiences over the last two years as part of the Homebase turnaround. It marks a bold new step that will accelerate Homebase to its vision of being the go-to place for the inspiration, expertise and products customers need for their home and garden projects from start to finish. By Easter 2021, Homebase customers will have access to a brand new website, offering a range of exciting and interactive new features, including 'before and after' pictures and design and style tools to help them turn their home and garden ideas into a reality. Improved navigation, shoppable multi-product images, instant 'add to basket' functionality, and new payment options including PayPal and Google Pay will make it even easier to shop from the wide range of products and create the latest home trends. Homebase will combine its 40-year heritage and deep understanding in home and garden with The Hut Group's globally recognised e-commerce credentials to uncover and maximise powerful real-time data insights. This will allow Homebase to understand its customers even better in real-time, tracking trends to help them find exactly what they're looking for whether they're shopping online or in-store. On the website, AI-driven recommendations will allow Homebase to deliver a more personalised customer experience and make it even easier for the customer to get everything they need. Damian McGloughlin, CEO of Homebase, comments: "This partnership will significantly fast-forward our digital plans and create an incredible new shopping experience for customers. We have a unique opportunity to move with the rapidly changing retail landscape, and leapfrog ahead to an experience that exceeds customers' demands for online shopping that's both easy and inspirational. We'll combine the best of bricks-and-mortar with THG Ingenuity's world-class expertise, to advise, excite and inspire our customers with new ways of shopping we know they'll love." Matthew Moulding, Founder, Chairman and CEO of THG, said: “We are incredibly excited to be working with one of the UK’s biggest players in the home and garden retail sector and there is huge potential for us to grow Homebase’s D2C capabilities with our proven infrastructure and services. “The global retail landscape is changing and the current climate has accelerated digital plans for many businesses. This partnership is testament to the strength and reputation of THG Ingenuity to deliver a world-leading ecommerce solution that can power businesses of all sizes, in the UK and globally.” Source: Insight DIY & Homebase For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter. 02 September 2020

2020 Sports Industry Outlook

The esports landscape will continue its rapid evolution. In 2020, the global esports market is expected to generate $1.5 billion in annual revenues, primarily from sponsorships and advertising to an estimated global audience of 600 million fans. We expect to see dramatic growth in streaming and broadcast sponsorships, as well as new branding and sponsorship opportunities.

https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/sports-business-trends-disruption.html

New opportunities to connect with fans In this global golden age of sports, 2023 is expected to bring organizations and athletes more chances than ever to deeply connect with their fans. This includes engaging through some important international events, such as the Cricket World Cup (India), Rugby World Cup (France), and the FIFA Women’s World Cup (Australia and New Zealand). This year will also see new media deals and more innovations from streaming providers as their influence grows. In a challenging economic environment, sports will likely still be seen as an attractive option for investment, with investors endeavoring to take a responsible and sustainable approach. Technology will continue to infuse every aspect of sports, empowering athletes and creating a more immersive experience for fans at live events and at home. In general, 2023 will be about making the most of these near-term opportunities while managing associated risks with the longer term in mind. Our 2023 outlook in brief: The blending of physical and digital experiences will move from proving concepts to creating new functionality and better experiences. With the possibility of new sports betting restrictions emerging around the world, there will be a greater emphasis on risk management and responsibility as the industry seeks more growth and profitability. Interest and involvement by private equity investment in sports will continue to grow. How will sports organizations respond to new types of investors and their expectations? How will investors act during a potential economic downturn? After a breakthrough year, women’s professional sports are in a strong position to further advance in 2023, but additional work is necessary to improve awareness, expand sponsorship, and grow media rights valuations and investment. College athletics in the United States are undergoing unparalleled change. It will be a challenge to balance the extraordinary opportunity with responsibility to student-athletes, schools, fans, partners, and alumni. Download the full report to learn more about the impacts of sports industry trends, key actions to take, and critical questions to ask.

Terrible wildfires in Canada impacts on Canadian Natural Resources amongst others

Canada is experiencing one of the worst wildfires in living memory due to an unusually hot and dry spring, which has lead to a record start to the forest fire season and warnings of extreme risk conditions.  Worst affected areas are the central prairie province of Saskatchewan, lower British Columbia on the west coast, and in Alberta there are currently 120 wildfires with 52 considered out of control.  Companies affected include Canadian Natural Resources, Heavy Western Canadian Select and Cenovus, and it is expected that 10% of production in the country has been affected by the blaze so far.

http://www.rcinet.ca/en/2015/07/06/wildfires-bad-getting-worse/

Smoke, evacuations It is easily heading towards one of the worst wildfire seasons in Canada. Throughout much of northern and western Canada, an unusually hot and dry spring has meant a record start to the forest fire season and warnings of extreme risk conditions. Much of western Canada is under extreme risk of wildfires due to an unusually hot dry spring More fires have started in all throe provinces since this CBC news report on Sunday. © CBC tv Smoke from the many wildfires is once again blanketing a vast area of a Canadian province. After reports last week that most of the central prairie province of Saskatchewan was blanketed in smoke, comes news that much of lower British Columbia on the west coast is now experiencing the same problem with 31 new fires started in the last 24 hours with a total of 144 burning in that province Even a bright sun barely penetrates the smokey and somewhat eerie sepia haze over Vancouver © Mike Clarke/CBC B.C. wildfires of note: Map shows more than 61 fires larger than 10 hectares. The fires in yellow circles began within the last 24 hours, those in red are active and those in yellow flames are the largest. © (B.C. Wildfire Management Branch Meanwhile in British Columbia’s neighbouring province of Alberta, there are currently 120 wildfires burning across the north of the province, according to wildfire information officer Geoffrey Driscoll. Of those, 52 are considered to be out of control. Largest evacuation in Saskatchewan history In the central prairie province of Saskatchewan almost 8,000 people have had to be evacuated from homes in the province around La Ronge, about 450 kilometres north of Saskatoon. This latest group is in addition to almost 6,000 already evacuated and receiving support from the Ministry of Social Services. A massive plume of smoke rises from a wildfire in the LaRonge, Sask., area on Wednesday. There are 114 fires burning in northern Saskatchewan as of midday Saturday. © Saskatchewan Ministry of Environment/ Wildfire Branch/Canadian Press The Canadian military is now being called in to the province of Saskatchewan. Some 1,400 personnel , including a firefighting force and integral logistics support, are preparing to help fight fires there. Also, CFB Cold Lake (4 Wing) is prepared to provide additional housing for evacuated residents should it be necessary.

Study finds the impact blockchain could have on financial services

Blockchain "can play a big role" in the financial services industries, including sectors such as payment and settlement and securities trading, according to a report by internet company Tencent and China's Academy of Information and Communications Technology. The study also found blockchain technology could enhance transparency and help automate processes, but called for the coin and chain applications to be treated separately.

https://cointelegraph.com/news/chinese-research-institute-report-finds-blockchain-can-enhance-financial-services

A Chinese scientific research institute and value-added Internet service provider Tencent Holdings have jointly released a July 24 report emphasizing the impact of blockchain on the transformation of traditional financial services. The Academy of Information and Communications Technology, a scientific research institute under China’s Ministry of Industry and Information Technology (MIIT), and China’s Tencent Holdings’ report includes eight core conclusions of blockchain implementation in the financial sector. According to the report, blockchain technology will further enhance the transparency of financial transactions, strengthen the flexibility of system operation, and automate processes, thus affecting the record keeping, accounting and payment settlement methods of financial services. The study further comments: “In addition to digital currency, the characteristics of the blockchain can play a big role in the fields of payment and settlement, supply chain finance, securities trading, insurance, and credit reporting.” During the process of applying blockchain, the report notes, it is necessary to differentiate between the “coin” application and the “chain” application, presumably a reference to blockchain tech’s basis for most cryptocurrencies: “For the ‘coin’ application, the financial risk should be strictly guarded. For the ‘chain’ application, it should be legally regulated.” Earlier this week, three major Chinese telecom operators launched a blockchain research group for building a “next-generation telecommunication network.” China will also lead an international research group on the standardization of the Internet of Things (IoT) and blockchain technology, as Cointelegraph reported July 18. China has also recently downplayed blockchain tech, as the head of the international department of the China Banking and Insurance Regulatory Commission warned against “mythologizing” blockchain technology in mid-July. As China was the first country to institute blanket a ban on Initial Coin Offerings (ICO) and exchanges, Cointelegraph reports that the country has some difficulties with the decentralized and liberal freedoms that comes from blockchain and cryptocurrencies.

Nasdaq begins Blockchain discussions with rivals

Nasdaq has opened up discussions with rivals in a bid to discover how far Blockchain technology can improve trading and settlement practices. Blockchain and artificial intelligence (AI) investment has become a core area of focus for the company as it urges regulators to keep pace with FinTech innovation.

http://www.thetradenews.com/Technology/Nasdaq-begins-Blockchain-discussions-with-rivals/

Nasdaq has opened discussions with other exchanges to consider how Blockchain technology can be deployed globally to improve trading and settlement practices. Speaking to The Trade, Adam Kostyal, head of European listings at Nasdaq, said these discussions are in keeping with the exchange’s ongoing investment in Blockchain technology. He explained: “We have made significant efforts in trying to understand where Blockchain can be deployed. Blockchain for us is a reality.” The business launched a well-documented private trading platform called Linq towards the end of last year. The Blockchain-powered platform allows private companies to trade their shares, even before they go public. Kostyal said Blockchain and artificial intelligence (AI) are now the two main areas of focus for the group as far as technological investment is concerned and stressed the need for regulators to keep pace with FinTech innovation. He explained: “Regulation has to evolve. You can’t over-regulate at the beginning but the regulators have to have their ear to the ground – Not too early or they risk slowing down development. “The important thing is to make sure that you evolve step-by-step. Regulators are different in each market. In the UK, regulators have been very proactive but in other markets, they are not.” Kostyal acknowledges that it can be difficult for regulators to set rules and police markets that are not yet fully formed, but stressed that regulators need to evolve their approach. He said: “You have to make sure you know the mistakes being made. You have to make sure that the credibility and sustainability of institutions are being upheld.” Kostyal is addressing delegates at the inaugural FinTech conference MoneyConf in Madrid this week.

IWG Spaces opens in Wroclaw

Spaces has opened a 2,700 sq m office in the Wroclavia centre. The mixed-used site is located in Wroclaw, Poland’s third largest office centre.

http://www.propertynews.pl/centra-handlowe/spaces-stawia-na-wroclavie,72473.html

Pierwsza wyszukiwarka nieruchomości komercyjnych w Polsce. Prezentujemy oferty na sprzedaż i do wynajęcia w kategoriach: biura, handel, hotele, obiekty wypoczynkowe, lokale gastronomiczne i usługowe, magazyny, tereny inwestycyjne To miejsce stworzone dla kadry zarządzającej w spółkach deweloperskich i firmach inwestujących na rynku nieruchomości komercyjnych, agencjach doradczych, sieciach handlowych, firmach dostarczających usługi i produkty oraz instytucjach i bankach finansujących inwestycje, a także samorządowców.

IWG WeWork opens in Edinburgh without Wi-Fi

Customers at WeWork's luxurious new George Street, Edinburgh, offices were allowed to move in before the building had been installed with Wi-Fi. The co-working site, where private offices cost from £1,150 ($1,913) a month, was said by anonymous sources to have suffered with "sub-standard broadband" and would continue to do so for "a couple of weeks". WeWork said it has set up a "dedicated internet line" with an unnamed provider and a spokesperson apologised for the inconvenience.

https://digit.fyi/wework-edinburgh-broadband-4g/

Tenants at the new WeWork Edinburgh offices have complained of poor connectivity issues after the firm failed to install broadband before companies moved in. A host of companies from Edinburgh’s technology scene have moved into – or are set to move into – the luxurious offices which offer panoramic views of Edinburgh Castle. The co-working space, which is the third WeWork office to open in the UK, can house up to 800 residents. Initial teething issues led some firms to complain about sub-standard broadband services. Other tenants (who wish to remain anonymous) told DIGIT that they were unable to move into the building due to the lack of connectivity, while others were streaming 4G data to stay connected. One source said: “The building is not fully operational because WiFi is provided by 4G dongles only. They are working on a solution but not confirming if they have fibre in the building.” Tenants were led to believe that connectivity issues may persist for some time, with one source noting they were told it could be a “couple of weeks” until the issues were set to be resolved. “Teams have been running on 4G,” a source told DIGIT. “Ethernet is going in as a temporary solution now and I gather that the fibre will be up and running within a couple of weeks.” To compensate for the disruption, WeWork allegedly offered temporary accommodation at EICC for tenants to use. However, it is unknown whether any agreed to the offer. DIGIT contacted WeWork yesterday, who responded with a statement clarifying the situation. “Unfortunately, due to circumstances beyond our control, the WiFi service at 80 George Street, whilst available, is below our usual standard and speed,” a spokesperson said. “We know this is really disappointing for our members and apologise for the inconvenience this has caused – their experience is our top priority and we are working hard to get this resolved as quickly as possible,” the statement added. Since speaking to WeWork, DIGIT understands that efforts have been made to resolve the connectivity issues. A “dedicated internet line” has now been established at the office by the company’s internet service provider, which WeWork failed to disclose. Communication throughout the ordeal has been described as “vague” by some tenants and one source spoke of their frustration over the “unacceptable” situation. Prices for private offices at the George Street location start at £1,150 per month, with hot desks setting tenants back £350. WeWork’s meteoric rise and subsequent difficulties have grabbed headlines for several months now. The company recently withdrew its planned public listing just days after founder and CEO Adam Neumann left the company. SoftBank has poured upwards of $11 billion into the workspace startup, and when it invested in the company in January, it expected the company to float on a $47 billion valuation. Since then, however, investor concerns over the company’s losses and business model have driven the valuation down significantly. WeWork considered going public with a valuation of around $10 billion before scrapping plans for a 2019 IPO entirely. Significant job losses are also on the horizon at WeWork. A report last week from Business Insider claimed that the company could lay off between 10 and 25% of its workforce.

Painting by Stanley Spencer not seen for 60 years

The picture titled, Punts by the River, is from a series of paintings by Spencer called Christ Preaching at Cookham Regatta, the work has  been in a private collection for 60 years and has not been seen since1959 the same year the artist died. Sotheby's, who are selling the picture expected to reach £5m ($6.8m), sold a work from the same Cookham Regatta series, titled Conversation Between Punts, in 2013 for £6m ($8.25m). The painting was last on view to the public when it hung at the Worthing Art Gallery in the autumn of 1961.

https://www.theguardian.com/artanddesign/2018/apr/29/stanley-spencer-sothebys-christ-in-cookham-auction

A painting by the 20th-century British artist Stanley Spencer, which has not been on public view for almost six decades, is expected to fetch up to £5m at auction in June. Christ Preaching at Cookham Regatta: Punts by the River has remained in private collection since it was bought in 1959, the year Spencer died. The painting was the last to be completed in a series in which the artist portrayed the Resurrection in the context of a regatta in the Berkshire village of Cookham. Sotheby’s, which is auctioning the painting, will ​briefly exhibit it to allow Spencer enthusiasts a rare sighting. It was last on public view at Worthing Art Gallery in the autumn of 1961. Spencer planned seven paintings in the series Christ Preaching at Cookham Regatta. Six smaller works were completed, but the enormous centrepiece was unfinished. It now hangs in the Stanley Spencer Gallery in Cookham, the artist’s beloved home village. Punts by the River, completed in 1958, like all Spencer’s Cookham paintings, connects epic and domestic themes. It depicts a group of girls in summer dresses, sitting in a punt. The low, cushioned seats mean their simple summer dresses ride up to show off a tangle of bare limbs. The girls were likely to be based on villagers known to the artist, said Frances Christie, Sotheby’s head of modern and postwar British art. “They’re probably working at the regatta, taking a break. These punts were an unattainable world, they were really expensive to rent during regatta week.” In the background, a young man, apparently naked, is trying to break into their circle. His bare feet intrude into the girls’ punt and a long bony finger points at the group. It is thought to be a portrayal of Stanley as a young man. The paintings of Stanley Spencer, here sketching on a bank of the River Clyde in 1900, elevated everyday life in Cookham to a religious experience. Photograph: Hulton Deutsch/Corbis via Getty Images “He’s a curious figure, but it’s clearly an image of Spencer in his youth,” said Christie. “The fact that he’s naked and in a contorted pose – almost like an angel or a cherub – is very intriguing. It feels like there’s sacred presence there.” Like all his Cookham paintings, the work is a social commentary on the village. “Everyday goings-on get elevated because he uses religious subject matter. He saw that using the Christian story was a way of, in his mind, raising his beloved Cookham from an everyday village.” The detail of the painting – the wood of the punt, the cushions, the flesh of the girls’ limbs – make “you almost feel that you’re sitting there with them. It really shows off what an incredible draughtsman he was.” Great works by Spencer rarely come on the market because much is in public collections. “All the major museums in Britain have great Spencers, and they’re also in collections around the world,” said Christie. “The work that does come on to the market more often are his commercial commissions, the work he did to pay the bills – still lives, landscapes. But the work that was most important to Spencer himself are these more personal, visionary works that relate to Cookham which place these incredible religious subjects in a normal English village. These are the works he rated above everything else, and that’s what makes this [sale] really significant.” Christie said she hoped Punts by the River would be bought by “another incredible collector who appreciates it as much as the family who bought it in the late 1950s”. The current record price for a Spencer painting was set in 2013 for another in the series, Christ Preaching at Cookham Regatta: Conversation Between Punts, which fetched £6m. As well as painting grand biblical scenes in the prosaic village setting, Spencer created the most important artistic first world war memorial in the UK, the Sandham Memorial Chapel in Burghclere, Hampshire. An exhibition of works by Spencer commissioned and bought by his patrons – including the unfinished centrepiece of the Christ Preaching at Cookham Regatta series – is currently on show at the Stanley Spencer Gallery in the artist’s home village. Christ Preaching at Cookham Regatta: Punts by the River will be on view to the public as part of Sotheby’s Modern British Week, 8-12 June

Iceland reveal plans to change public perception of frozen food

Iceland are attempting to change public opinion for the better on themselves and in turn frozen food, they aim to dispel the sentiments of frozen food being a cheap and otherwise lesser option for consumers. They are planning to release unorthodox products in order to draw in new customers and show them the improvements in quality frozen food has made in recent years.

https://www.express.co.uk/life-style/life/1297528/iceland-supermarket-online-shopping-grocery-delivery-price-comparison-discount-food-spt

Iceland: Buyer tries luxury ready meals for new range Founded in 1970 by Sir Malcolm Walker in Oswestry, Shropshire, the supermarket initially specialised in loose frozen food, offered at a cut-price to the “fancy packaged” food of other retailers. By 1977, they'd opened a new store in Manchester selling own-labelled packaged food, and by 1978 it had 28 stores to its name, as the company continued to grow to the 950 locations it now operates from, accounting for 2.4 percent share of the UK food market. The company is famous for its frozen foods, including prepared meals and vegetables, but in 2018, Sir Malcolm appointed his son, Richard, as joint Managing Director with the hope of shaking things up. Trending Richard is spending £80million to modernise over 200 stores with an emphasis on filling them with two-thirds of grocery items such as chilled produce, meat and dairy and is also hoping to boost sales by appealing to new customers by rolling-out unorthodox products. The move is a risk for Iceland, who have spent the last 50 years specialising in their sector of the market and Channel 5’s ‘Inside Iceland’ revealed some of the changes expected to be rolled out. The narrator said in January: “Deeside in the northwest, this is company headquarters, where top brass plan the future. “Boss Richard has ambitious plans to expand and needs more customers. Richard Walker has ambitious plans for Iceland The documentary took viewers to the company HQ “He’s given his team the task of boosting sales, including trading director Andrew Staniland.” The series then spoke to CEO Richard, who explained his new goal was not about changing Iceland’s target market but just expanding to those who may shop at other, similar supermarkets. He said: “We’re obviously not Waitrose or M&S, we’re not offering very expensive food exclusively to upper-middle classes. “Our customers have always been busy people on a budget.” Director of Frozen Goods, Andrew Staniland, explained why there is still a lot of work for Iceland to do to appeal to those shoppers. READ MORE: Iceland Managing Director's 'big shake-up' plan revealed: 'Our method is to disrupt!' SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Director of Frozen Goods, Andrew Staniland The team tested potential products of the future Iceland is hoping to win over more customers “Andrew’s team are hoping to match the success of products like their Duck-in Doughnuts, that’s doughnuts with actual duck in.” Mr Staniland explained the importance of picking the right kind of product so they do not lose their key customers. He added: “We’re always half a step, only half a step ahead of our customers. “If you’re two steps ahead, if you develop something too weird and wonderful, it often doesn’t work “You’ve got to introduce things relatively slowly. Iceland reveal their £1 top rated value products

Goel Group partners Hyatt Hotels to launch frozen food brand

Goel Group has entered the frozen food sector partnered with Hyatt Hotels to launch a range of vegetarian snacks, desserts and other goods under the Goeld brand. The Indian conglomerate has invested INR30 crore ($4m) building a food processing plant and plans to expand the range and export to the premium products to other markets.

https://www.devdiscourse.com/article/business/1137955-goel-group-launches-frozen-food-brand-in-partnership-with-hyatt-hotels

Chhattisgarh-based Goel Group, which is into mining, iron and steel manufacturing, on Tuesday said it has made a foray into the frozen food segment in partnership with hospitality chain Hyatt Hotels under the brand 'GOELD'. The company has also invested Rs 30 crore to set a food processing plant in Raipur, Chhattisgarh, it said in a statement. The firm claimed that the GOELD frozen food products are fully vegetarian and free from preservatives, colours and artificial flavours. The brand will offer Indian snacks, Indian breads, curries, thalis, premium vegetables and desserts, it added. The company is listed on the exchanges under the name 'Shri Bajrang Alliance'. Shri Bajrang Alliance Director and Chief Financial Officer Archit Goel said consumer habits are changing now more than ever. "Keeping this in mind and seeing the potential that this (frozen food) category holds, we have forayed into the FMCG (fast-moving consumer goods) sector." The company also plans to export and expand the range of its product offerings going forward, it said. (This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Android Pay finds its first loyalty partner in Walgreens

Walgreens has become the first company to integrate its loyalty programme with Android Pay. According to the Federal Reserve, 22% of US adults wanted to use their smartphones to "organise, track, and store gift cards, memberships, loyalty, and rewards points", while 67% of UK and US adults want loyalty card integration for their mobile wallets, according to Urban Airship's data. Walgreens already has 85 million members in its Balance Rewards scheme, more than half of whom are Android users. Mobile payments are set to rise from $75bn this year to $503bn in 2020.

https://uk.finance.yahoo.com/news/android-pay-finds-first-loyalty-150126425.html

Mobile Wallet Features This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. Walgreens, the U.S. pharmacy chain with more than 8,000 stores, will become the first merchant to integrate its loyalty program into Android Pay, the company announced. Users will be able to tap to earn and redeem loyalty points at the checkout ahead of making a payment. This is a significant development because loyalty is the top desired service among mobile wallet users, and Apple Pay already offers this capability. Twenty-two percent of US adults noted that they would like to use their mobile phones to organize, track, and store gift cards, memberships, loyalty, and rewards points as of the end of last year, according to the Federal Reserve. That number spikes when loyalty is directly affiliated with mobile wallets specifically — 67% of UK and US adults want loyalty card integration for their mobile wallets, according to data from Urban Airship. And when it is available, consumers take to it quickly. In Q4 2015, just a few months after Apple Pay enabled store and loyalty card integration, 25% of cards loaded into Apple Pay among US iPhone 6 users were store or loyalty cards. Pharmacy chains are a good place for mobile wallets to begin implementing loyalty. It’s likely that pharmacy chains like Walgreens have strong loyalty programs with an active, engaged user base because consumers tend to visit on a recurring basis to buy goods or fill prescriptions. Walgreens counts 85 million members in its Balance Rewards program, 45 million of whom are likely Android users based on data from comScore. That provides Android Pay with a strong addressable base who might test Android Pay for Balance Rewards and ultimately load in other payment cards and begin using the service in other locations. And in turn, it might give the service, which remains largely underutilized, a needed boost and begin to kickstart adoption. Mobile payments are becoming more popular, but they still face some high barriers, such as consumers' continued loyalty to traditional payment methods and fragmented acceptance among merchants. But as loyalty programs are integrated and more consumers rely on their mobile wallets for other features like in-app payments, adoption and usage will surge over the next few years. Evan Bakker, research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on mobile payments that forecasts the growth of in-store mobile payments in the U.S., analyzes the performance of major mobile wallets like Apple Pay, Android Pay, and Samsung Pay, and addresses the barriers holding mobile payments back as well as the benefits that will propel adoption. Here are some key takeaways from the report: In our latest US in-store mobile payments forecast, we find that volume will reach $75 billion this year. We expect volume to pick up significantly by 2020, reaching $503 billion. This reflects a compound annual growth rate (CAGR) of 80% between 2015 and 2020. Consumer interest is the primary barrier to mobile payments adoption. Surveys indicate that the issue is less the mobile wallet itself and more that people remain loyal to traditional payment methods and show little enthusiasm for picking up new habits. Integrated loyalty programs and other add-on features will be key to mobile wallets taking off. Consumers are showing interest in wallets with integrated loyalty programs. Other potential add-ons, like in-app, in-browser, and P2P payments, will also start fueling adoption. This strategy has been proved successful in China with platforms like WeChat and Alipay. In full, the report: Forecasts the growth of US in-store mobile payments volume and users through 2020. Measures mobile wallet user engagement by forecasting mobile payments' share of their annual retail spending. Reviews the performance of major mobile wallets like Apple Pay and Samsung Pay. Addresses the key barriers that are preventing mobile in-store payments from taking off. Identifies the growth drivers that will ultimately carve a path for mainstream adoption. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of how mobile payments are rapidly evolving. More From Business Insider

US's Genco Shipping to replace 15 older ships to modernize fleet

Genco Shipping & Trading is set to retire 15 of its 60-strong fleet of vessels and replace them with second-hand ships that are less than five years old, according to CEO John Wobensmith. The move pre-empts a predicted 3%-4% increase in shipping demand for 2018, with tonnage set to rise by 1%-2% off the back of China's continued demand for iron ore from Australia and Brazil. Wobensmith said this year was likely to be a "healthier, stronger freight market than what we saw in 2017". Genco Shipping to Acquire Bulk Carriers to Meet Demand Growth 2018-03-06 14:36:05.822 GMT By Kyunghee Park (Bloomberg) -- Genco Shipping & Trading Ltd. plans to buy the ships in the second-hand market this year to replace 15 older vessels it will sell, Chief Executive Officer John Wobensmith said in an interview in Singapore. * Co. to focus on Capesize and Ultramax businesses * Will look at buying vessels less than five years old * “2018 to be a healthier, stronger freight market than what we saw in 2017”: Wobensmith * Co. currently operates 60 vessels * Bulk-shipping demand likely to increase 3%-4% this year: Wobensmith * Supply of tonnage to rise 1%-2%, possibly helping time-charter rates to rise faster than 2017 * China demand for higher grade iron ore to continue this year from Brazil and Australia * India expected to need more coking and thermal coal * NOTE: Feb. 27, Genco Shipping Reports Unexpected Fourth- Quarter Profit

https://www.marinelink.com/news/announces-shipping434535

International seaborne drybulk transportation services Genco Shipping & Trading plans to undergo a fleet optimization and renewal plan aimed at modernizing its fleet. As part of this plan, the Company has decided to dispose a total of 15 vessels in its fleet at times and on terms to be determined in the future including vessels it had already decided to dispose of. The plan includes eight Supramax vessels, one Handymax vessel and all of its vessels built in 1999 or earlier. As a result of this decision the estimated future undiscounted cash flows for nine of the vessels which are part of this plan did not exceed their net book values, and it has therefore adjusted their values to fair market value during the first quarter. "We therefore anticipate a non-cash impairment charge of approximately $56 million in the first quarter of 2018. We plan to redeploy the net sales proceeds from these 15 vessels, subject to lender consent, towards the purchase of modern, high specification vessels that complement our commercial strategy and management’s view of the drybulk supply and demand fundamentals," said a company statement. The Company recorded net income for the fourth quarter of 2017 of $2.6 million, or $0.07 basic and diluted net earnings per share. Comparatively, for the three months ended December 31, 2016, the Company recorded a net loss of $25.1 million, or $3.43 basic and diluted net loss per share. Genco's revenues increased by 71% to $74.9 million for the three months ended December 31, 2017, compared to $43.9 million for the three months ended December 31, 2016. The increase in revenues was primarily due to the employment of vessels on spot market voyage charters as well as higher spot market rates achieved by the majority of the vessels in our fleet. These increases were partially offset by the operation of fewer vessels during the fourth quarter of 2017 as compared to the same period of 2016.

Private equity lobbyists were involved in the push for $500 billion coronavirus bailout fund

Lobbyists representing the private equity industry pushed the Trump administration and members of Congress to provide hundreds of billions of dollars in relief for businesses hammered by the spread of coronavirus.

https://www.cnbc.com/amp/2020/03/31/coronavirus-private-equity-firms-lobbied-congress-treasury-in-bailout-push.html

President Donald Trump speaks before signing the H.R. 748, Coronavirus Aid, Relief, and Economic Security (CARES) Act, in the Oval Office of the White House in Washington, D.C., U.S., on Friday, March 27, 2020. Erin Schaff/The New York Times/Bloomberg via Getty Images Lobbyists representing the private equity industry pushed the Trump administration and members of Congress to provide hundreds of billions of dollars in relief for businesses hammered by the spread of coronavirus. The American Investment Council, which lobbies on behalf of the private equity industry, spoke to congressional leaders from both sides of the aisle and Treasury Department officials, according to people with direct knowledge of the matter. These people declined to be named because the conversations were deemed private. The organization pushed to make sure the Treasury's economic stabilization fund would provide enough liquidity to businesses especially hampered by the coronavirus pandemic, these people added. Private equity firms did not request financial assistance, these people added. The $500 billion that was eventually made available for business loans and other forms of aid could be a boon to companies in which private equity firms have invested. Private equity firms often invest and restructure companies that aren't publicly traded. McKinsey & Company, a management consulting firm, published a study showing that in 2019, the volume of private equity deals declined in every region around the world except in North America, "where capital invested rose 7 percent to $837 billion, a new high." Members of the American Investment Council include private equity giants such as Blackstone, the Carlyle Group, Apollo Global Management, Kohlberg Kravis Roberts and Warburg Pincus. The American Investment Council said they are hoping Congress and the administration don't block companies from financial aid just because they are backed by outside investors. "Businesses across America are looking for support immediately in order to survive and continue to employ people," Drew Maloney, the CEO of American Investment Council, said in a statement to CNBC. "It shouldn't matter if these companies are backed by investments from corporations, pension funds, or others," he added. He also noted that the group will continue to work with the administration and Congress to make sure all businesses receive financial support. A spokeswoman for the Treasury Department did not return a request for comment. The virus has swept through the United States, with over 184,000 reported cases and just over 3,700 deaths. The markets have whipsawed throughout the month of March. The Dow and S&P 500 had their worst first-quarter performances ever, losing 23.2% and 20%, respectively. The Labor Department announced a surge of over 3 million unemployment claims last week. The $2 trillion stimulus bill, also known as the CARES Act, created a pool of $500 billion in taxpayer money to make loans, loan guarantees or investments to businesses that qualify and are in need of relief in the wake of the pandemic. The airline industry, which has seen demand crater due to travel restrictions and customer fears, will receive a chunk of that cash. Approximately $454 billion is going to support Federal Reserve lending programs to businesses, states and municipalities. The Treasury Department is expected to provide guidance over the next week for who is eligible for further assistance. Lawmakers in Congress and the White House both have said they are looking into another round of stimulus.

World’s largest dockless bike company, Ofo, launches in Sydney

A Chinese company is set to launch its dockless bike-sharing service in Sydney, Australia, joining three similar companies which already operate in the city. Ofo, which was founded in Beijing in 2014, will put a total of 600 bikes into different areas over the coming weeks, and has pledged to act in a "more responsible" way than some other providers. The dockless schemes have grown in recent months, with 60,000 people in Sydney downloading bike sharing apps on their smartphones, and around 4,000 bikes already operated by companies Reddy Go, oBike and Airbike.

https://amp.theguardian.com/uk-news/2017/oct/24/dockless-bikeshare-pioneers-ofo-gear-up-for-sydney-launch

The world’s largest dockless bike company will launch in Sydney on Wednesday, joining three other companies and 4,000 bikes competing for the business of the city’s 600,000 daily visitors. Ofo, a Beijing-based company founded at Peking University by graduate student Dai Wei in 2014, will release 200 bikes in the City of Sydney on Wednesday, followed by 200 bikes in Waverley Council, which includes Bondi, a week later, and another 200 bikes in the inner west a week after that. The company, recognised as the first dockless bikeshare company in the word, operates 10 million bikes in 180 cities worldwide and plans to expand to 20 countries by the end of 2017. Its Australian expansion comes as councils in both Sydney and Melbourne crack down on bikesharing companies, with Melbourne’s lord mayor Robert Doyle describing them as “urban clutter”. Dockless bikeshare schemes work by getting people to download an application on their phone, which allows them to subscribe to the service, locate and unlock nearby bikes, and pay for their use. Since the first scheme began operating in Sydney three months ago, more than 60,000 people have downloaded a bikeshare app and the City of Sydney has received 29 complaints. Ofo has promised a “more responsible” launch than other providers, with a local operations team to retrieve wayward bicycles, a geofence built into the app that penalises users who take the bikes outside of a proscribed location, and helmets locked to the back of the bike. They company is also prepared to prosecute people who vandalise its bikes, said Scott Walker, the Australian head of strategy. He compared vandalism of dockless bikes, which has been rampant since the first scheme launched in Australia earlier this year, to keying someone’s car. “What people are doing is they are vandalising a service that is there to make their life easier, make their commute better,” Walker told Guardian Australia. Ofo launched in Adelaide with 50 bikes earlier this month, and recently added another 50. It had three local operations staff to collect the bikes and return them to its preferred parking zones, which are marked in the app. “Bikeshare is a resource-intensive model, you need a lot of staff on the ground to properly manage a fleet of outdoor bicycles that are dockless,” Walker said. “If people see bikes not being used or they see bikes stationary for a long period of time, or a bike fallen over, or vandalised, and not being repaired or moved, then they don’t see the scheme as organised or valuable.” Sydney already has more than 4,000 dockless bikes, operated by Reddy Go, oBike and Airbike. Singapore-based oBike also operates in Melbourne, and recently signed a memorandum of understanding with the City of Melbourne acknowledging that council had the right to impound bikes that had been inappropriately parked, were damaged, or were cluttering an area, and could destroy those bikes if the company didn’t claim them within 14 days. Thirty oBikes have been destroyed by the City of Melbourne since 1 July and more than 50 have been fished out of the Yarra river, after being dumped there by users. Others have been left up trees. In Sydney, oBike Australian marketing director Chethan Rangaswamy told the Australian Financial Review bikes are usually left at the bottom of a hill near the beach, where they have to be fetched each night and trucked up to a train station ready for the next day’s riders. The City of Sydney said it had not seen Ofo’s list of preferred parking spaces, but said it was generally welcoming of “the concept of” dockless ride bike schemes. “While we support the concept of bikeshare, we continue to stress our concerns about safety, redistribution of bikes and accessibility on footpaths, and have found operators to be responsive to public queries and complaints,” a spokesman said. The New South Wales transport department is developing a management policy for dockless bikeshare schemes at the request of Sydney lord mayor Clover Moore.

BMW M5 could launch as both a hybrid model and an EV variant

BMW's upgraded M4, dubbed the M5, is set to have full electric and hybrid versions, with the latter using the 750 bhp, X8 M PHEV engine, according to reports. In addition, the EV M5 will be based on the CLAR WE platform, achieve 1,000 bhp, have a possible range of 435 miles from a 135 kWh battery pack, and go from 0-60 in less than three seconds. The cars are due to hit showrooms between 2023 and 2024.

https://dapplife.com/bmw-m5-could-be-launched-in-hybrid-and-ev-variants-8556

BMW’s M4 upgrade will reportedly include a standard PHEV and a performance-oriented electric powertrain. The EV version of the M4 will reportedly have a 1,000 Hp engine coupled with a 0-60 mph acceleration of under 3 seconds. The 2023 M5, as it is known in some quarters, will be based on BMW’s CLAR WE platform. According to a new report out of Car Magazine, the next BMW M4 upgrade (G60) will have a plugin hybrid model and another variant which will be a proper EV. In terms of engine and performance, the BMW M4 hybrid will apparently use the same engine as the BMW X8 M PHEV that was leaked recently. The engine is said to provide an output of 750 horsepower and 737 pound-feet (1,000 Nm) of torque. Additionally, the entire setup will be based on a twin-turbo V8 engine accompanied by multiple electric motors. However, the top-end model has grabbed all the attention so far, and with good reason. The report mentions that this variant of the M4 will have a 1,000 horsepower output and a 0-60 mph acceleration of well below 3 seconds. In this model, the company will reportedly use a 250 kW motor for the front wheels and the same setup for the rear. It is said that this variant may be packing a 135 kWh battery pack that can provide an electric range of 435 miles. Further, the EV will reportedly charge at up to 350 kW (400V), although BMW will apparently upgrade it to an 800V charging system shortly after the vehicle’s release. Unsurprisingly, the new M4 will be based on BMW’s CLAR WE platform. While BMW has launched standard EVs already, it hasn’t launched one under the M moniker (short for Motorsport). These are super-performance vehicles designed for speed and efficiency. Keeping this in mind, the rumored PHEV and EV options of the upcoming M4 will be something to behold. Unfortunately, the BMW M4 upgrade (also known as the M5) may not arrive in the markets until 2023 – 2024 at least. Considering that a lot may change between now and then, we recommend you to take these new revelations with a grain of salt. What do you make of an electric makeover of the BMW M4? Source: Car Magazine

US drivers would adopt EVs with 319 miles range: study

Widespread US adoption of EVs will require ranges of at least 319 miles, 30-minute charging and a price-tag of $36,000, according to a study by BP's Castrol. The survey of 10,000 people across eight countries was made up of fleet managers, automotive industry professionals and consumers, and aimed to discover what would facilitate mass EV adoption. The findings showed that US customers value the longest range, closely followed by the Norwegians at 315 miles, but are willing to pay a higher price than UK counterparts, who want EV costs at roughly $30,000, much less than Japan's $43,000.

https://insideevs.com/news/440736/us-ev-adoption-319-mi-range/

One of the most emblematic signs that electric mobility will happen sooner than most people think is seeing how British Petroleum is interested in it. Through Castrol – one of its brands – the oil titan asked in eight countries what would be necessary for people to buy electric cars. In the US, the answer was a $36,000 price tag, 30 minutes of charging, and at least 319 mi of range. Called Accelerating the EVolution, the research was done in the US, China, Norway, UK, Japan, Germany, France, and India. In total, 10,000 people were interviewed, among consumers, fleet managers, and automotive industry professionals. Check below how that was distributed in each country: China: 2K consumers, 100 fleet managers/transport managers, 15 automotive industry professionals. France: 1K consumers, 100 fleet managers/transport managers, 2 automotive industry professionals. Germany: 1K consumers, 100 fleet managers/transport managers, 2 automotive industry professionals. India: 1K consumers, 100 fleet managers/transport managers, 2 automotive industry professionals. Japan: 1K consumers, 100 fleet managers/transport managers, 2 automotive industry professionals. Norway: 1K consumers, 50 fleet managers/transport managers, 2 automotive industry professionals. UK: 1K consumers, 100 fleet managers/transport managers, 2 automotive industry professionals. US: 1K consumers, 100 fleet managers/transport managers, 3 automotive industry professionals. According to Castrol, that was representative enough to determine the tipping points of massive EV adoption. More Articles On EV Adoption: Interestingly, these demands are not uniform. In India, for example, cars would have to cost $31,000, but customers would be happy with a lower range (401 km, or 249 mi) and with a longer charging time (35 minutes). British consumers want them to cost even less: $30,000. The most impatient clients are the French, who wish to spend only 27 minutes charging. The Americans are the ones who demand more range, but the Norwegians are not far behind: they need 507 km (315 mi) of minimum range. Japanese buyers are the ones willing to pay more on EVs: $43,000. Such a map may help manufacturers willing to sell EVs to address clients’ demands more efficiently. When that happens, Castrol intends to sell e-fluids to automakers. Source: Castrol

Renault-Nissan announce Philippe Brunet as new powertrain chief

Renault-Nissan has chosen Phillippe Brunet to replace Alain Raposo as the top executive in charge of engines and transmission at the company. To step down on 1 January, Raposo will take up a new position as Alliance Powertrain Fellow and remain “part of strong team” according to a company spokeswoman.

http://investir.lesechos.fr/actions/actualites/exclusif-philippe-brunet-nouveau-patron-des-moteurs-de-renault-nissan-1614946.php

Par Reuters Publié le 7 déc. 2016 à 10:32 PARIS, 7 décembre (Reuters) - Renault-Nissan a nommé Philippe Brunet à la tête des moteurs de l'alliance en remplacement d'Alain Raposo, un changement qui prendra effet le 1er janvier prochain, a annoncé mercredi à Reuters une porte-parole de l'alliance entre les deux constructeurs automobiles. Alain Raposo est quant à lui nommé maître expert ("powertrain fellow") et "reste partie intégrante d'une équipe forte", a-t-elle ajouté. Reuters avait rapporté mardi que Renault-Nissan allait remplacer son chef de l'ingénierie des groupes motopropulseurs et des véhicules électriques, en poste depuis avril 2014, et lui donner un rôle de conseiller, le dernier tour de vis réglementaire sur les émissions polluantes ayant accentué les tensions sur la lenteur du processus d'intégration technique entre les deux constructeurs. "Cette décision devrait contribuer à sécuriser des synergies additionnelles pour l'alliance et à mieux répondre aux attentes des clients", a expliqué le groupe en annonçant en interne les derniers changements. Diplômé de l'IFP School (métiers de l'énergie et des motorisations) et de l'Ecole centrale de Nantes, Philippe Brunet est depuis juin 2013 directeur du programme des grandes voitures de Renault (Espace, Talisman et Koleos). (Gilles Guillaume et Laurence Frost, édité par Dominique Rodriguez)

EESL issue transmission tender to support solar in Maharashtra

The Ministry of Power and the government of India's joint venture, Energy Efficiency Services (EESL), has launched an invitation for bids for power evacuation bays and transmission lines for 300 MW of solar projects in Maharashtra. Applicants must meet financial requirements, including having an average minimum turnover of between INR4.4m ($60,457) and INR11.4m over the past three years. India's poor transmission and distribution systems have been a concern for renewable companies.

https://mercomindia.com/eesl-tenders-transmission-lines-solar-projects/

Energy Efficiency Services Limited (EESL) has floated an invitation for bids (IFB) to construct power evacuation bays and transmission lines for nearly 300 MW of solar projects in the state of Maharashtra. EESL is a joint venture of the public-sector units of the Ministry of Power and the Government of India. The scope of work involves liaison for land acquisition, including getting necessary clearance and site surveys. Both EESL and Maharashtra State Electricity Distribution Company (MSEDCL) will assist in the liaison work. The work would also include planning, design, engineering, installation, testing, and commissioning of the new 11kV/22kV power evacuation bays and overhead lines. The last date for submission of bids is March 11, 2020. A pre-bid meeting will be held on March 3, 2020, the tender document added. To be eligible for the competitive bidding process, applicants must have a minimum average annual turnover ranging between ₹4.4 million (~$61,293) and ₹11.4 million (~$158,805) depending on the location chosen in the last three financial years. The bidder should also not have suffered any financial loss in at least two of the preceding three financial years, and their net worth must not be less than 100% of the paid-up share capital.

Pilot system to be launched in 2017 for large scale ocean cleanup

The Ocean Clean Up Foundation, backed by PayPal co-founder Peter Thiel and Salesforce chief executive Marc Benioff, is set to pilot its plastic-catching filter in the Pacific next year, following successful tests in the North Sea. The system, dubbed Boomy McBoomFace, has v-shaped screens which filter out plastics, which are then collected and taken to shore for recycling. Founder Boyan Slat estimates it will take 20 years to clean up 90% of the plastic in large collections called gyres.

http://www.independent.co.uk/environment/ocean-plastic-cleanup-rubbish-seas-take-out-23-year-old-boyan-slat-north-sea-pacific-microplastics-a7880321.html

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy notice Thanks for signing up to the Independent Climate email {{ #verifyErrors }} {{ message }} {{ /verifyErrors }} {{ ^verifyErrors }} Something went wrong. Please try again later {{ /verifyErrors }} In 1998 Charles Moore, an oceanographer, was sailing across the North Pacific when he made an unwelcome discovery. “As I gazed from the deck at the surface of what ought to have been a pristine ocean, I was confronted, as far as the eye could see, with the sight of plastic,” Moore wrote in Natural History magazine. “It seemed unbelievable but I never found a clear spot. In the week it took to cross the subtropical high, no matter what time of day I looked, plastic debris was floating everywhere – bottles, bottle caps, wrappers, fragments.” Recommended Plastic microparticles found in flesh of fish eaten by humans What he stumbled on became known as the Great Pacific Garbage Patch or “Pacific trash vortex”. It is thought to be anywhere between the size of Texas (270,000 sq miles) to several times that size. The difficulty of measuring such a large area of ocean means exact data is hard to come by but the latest research suggests the vortex has a 386,000 sq mile “heart”, surrounded by a 1.4 million-sq-mile outer periphery of trash. The extent and range of contaminants in the gyre is also little understood but scientists estimate the high-density core now has an alarming one million pieces of plastic per sq km. Most of the plastic waste that ends up in the oceans is thought to become part of these “garbage patches” of rubbish, but it’s not a doughnut of clearly visible surface rubbish as has often been envisaged. Some of this plastic matter is found hovering at the waterline but most of it is floating in the upper-water column over thousands of sq miles in the Indian, Pacific and Atlantic oceans. ‘Boomy McBoomface’: The Ocean Cleanup’s North Sea plastic clearance operation (The Ocean Cleanup) By some estimates, the ratio of plastic to small animal matter (known as zooplankton) in these gyres is around 6:1 by weight. At the core of the vortex, this can be as high as 48:1. Zooplankton is an important component of the ocean ecosystem, providing nourishment for the smallest fish to the biggest whales, meaning much of the microplastic matter ends up being ingested. Perhaps most alarmingly for people who eat fish on a regular basis, scientists have recently found microplastics in the bodies of fish, not just in their stomachs. Last month, a group of Malaysian and French scientists found 36 pieces of potentially harmful microplastics in a study of 120 mackerel, mullets, anchovies and croakers. Described as a “ticking time bomb” by marine scientists, the Great Pacific Garbage Patch is believed to have grown by five times in the past 10 years and will become a greater risk to life as the plastic degrades further. It’s a problem that caught the imagination of a then 16-year-old schoolboy from the Netherlands, Boyan Slat. Slat was on holiday in Greece when a diving trip brought him face-to-face with the problem of ocean plastics. “I could see more plastic bags than fish on that scuba dive,” he says. “I had to do a high-school science project that year and I decided to really dedicate myself to this issue. Everybody told me it would be impossible to clean up, the main problem being that the plastic is extremely dispersed... over a wide area.” He dropped out of a degree in Aeronautical Engineering in order to pursue the idea, but the initial reception was not positive. Slat contacted 300 companies looking for support but only one replied, telling him it was “a terrible idea”. A hugely popular TED Talk saw the teenage Boyan gain worldwide fame, and funding for his designs soon followed, some of it crowd-funded, and some of it from high-profile investors such as PayPal co-founder Peter Thiel and Salesforce chief executive Marc Benioff. “Being an outsider and not having worked on this for many years allowed me at least to consider clean-up as an idea that would work. When I started there was this consensus that you could never clean this up, that the problem is way too big, the ocean is way too rough, the issue of bycatch – ‘plastic is too big, plastic is too small’...” The key idea that makes Slat’s concept different to other schemes is the principle of “letting the sea do the work” by having ocean currents run into V-shaped screens that filter out small plastics. When the system is fully operational, the plastics can then be loaded onto small vessels and taken back to land for recycling. Today the Ocean Clean Up Foundation employs more than 70 people and has around $30m (£23m) in funding. But the task confronting Slat and his team will require a great deal more than this. Although it’s hard to gain accurate data, today’s estimates suggest roughly five trillion tonnes of plastics are now floating in our oceans. Seven million tonnes are dumped into the sea each year. Haul of fame: Boyan Slat’s organisation has secured more than £20m in funding (The Ocean Cleanup) The Ellen MacArthur Foundation estimates that the volume of plastic waste in our oceans will outweigh the total mass of fish in the sea by 2050. The Ocean Cleanup’s trials in the North Sea with a prototype (officially named “Boomy McBoomFace” after the boom that supports the plastic filtering screens), were promising enough for the team to press ahead with a plan to pilot system in the Pacific gyre next year. Syrians make fuel from plastic waste Show all 8 1 / 8 Syrians make fuel from plastic waste Syrians make fuel from plastic waste Sifting through plastic: the workshop uses plastic from bottles and other waste materials to produce liquid and gas fuels. The liquid is refined into gasoline, diesel and benzene fuels, which in turn are sold for domestic and commercial use Reuters Syrians make fuel from plastic waste Khodor, 20, at the workshop in the rebel-held and besieged neighbourhood of Douma, Damascus Reuters Syrians make fuel from plastic waste Back to basics: a man checks the heat of a pipe pouring with fuel Reuters Syrians make fuel from plastic waste Khodor, 20, must keep an eye on the burning plastic inside the workshop in Douma Reuters Syrians make fuel from plastic waste A young man takes a container of the locally made fuel, which can be used for domestic heating and on farms and bakeries Reuters Syrians make fuel from plastic waste Abu Fahad on a rest break with his colleagues inside the workshop, where the air is heavy with toxic fumes Reuters Syrians make fuel from plastic waste Fuel drips into a container at the workshop. Most locals are glad of the family-run business, which has restored a degree of normality to the region Reuters Syrians make fuel from plastic waste Khodor extracts fuel from plastic in the workshop Reuters “We suffered some damage but that was the whole point, to find weak spots in the design. We developed a new anchor concept off the back of what we learnt”. The “drifting array” will now be held down by large sea anchors, ensuring it moves slower than the surrounding currents. “The deeper you go in the ocean, the slower the currents get. At the surface it can move quite rapidly [16-17 centimetres per second] and only a few hundred metres deeper, it’s more like three or four centimetres per second. So it’s a dramatic difference”. To exploit this difference, Boyan and his team developed a sea anchor suspended in the water column, consisting of about 100 sq metres of material, enough to slow down the drifting area by 20 per cent. Having tested a prototype model of its system in the North Sea last year, Th Ocean Cleanup announced in May that it plans to conduct a trial in the Pacific later this year, and start a full cleanup operation there next spring. “We’re starting with the North Pacific gyre simply because it is the largest accumulation of plastic. A third of all ocean plastic can be found in that area.” “It will still be an experimental system, operating for one year. We’ll gather data and improve the system continuously”. The goal then is to move onto the other four ocean gyres and replicate the process, albeit with slightly less rubbish to deal with in each vortex. Catch: discarded fishing nets are recycled to make clothes (The Ocean Cleanup) “We expect to be ready for a scale-up in late 2019, so in 2019-2020 we expect to get a fleet of around 50 systems in that one patch, which are able to cleanup around 13 per cent of the patch every year. So that means 50 per cent in five years and we would get to 90 per cent in about 20 years.” I ask Slat what has troubled him the most about the situation facing our oceans. “Definitely the degradation,” he says. “Plastic doesn’t really go away by itself.” “The concentration of plastic is rapidly increasing in the gyres. Even if you were to close off the tap, and no more plastic entered the ocean, that plastic would stay there, probably for hundreds of years”. Not only a threat to sea life, the degradation of ocean plastics leads to the release of chemicals that are known to be harmful to humans when they enter the food chain. Significant debris can cause damage to shipping, foul up tourist sites and encourage invasive species. Much of our older marine waste is now breaking down into more toxic and hard-to-remove substances, and reaching parts of the sea previously thought to be relatively pristine. Even the deepest chasm on the earth’s surface – the Mariana Trench in the western Pacific ocean – has been found to contain “extraordinary” levels of pollution at depths of 10 kilometres below sea level, although not all of this is attributed to plastic waste. It is now thought that around four billion plastic microfibres lie on the sea floor. “Today 95 per cent of the plastic is large stuff and only five per cent is small dangerous microplastics,” says Slat. “What is going to happen over several decades is that microplastic matter may increase twentyfold, which would be quite a big issue.” Among the other solutions to dealing with ocean plastics is the “waste to wear” initiative run by the NGO Healthy Seas. This project reworks the nylon found in abandoned fishing nets into textiles for use in clothing. Recommended How your pile of laundry fills the sea with plastic pollution ​Singer Pharrell Williams and fashion brand G-Star recently collaborated to create a line of clothing called “Raw for the Oceans” which also uses recycled ocean waste. Picking up litter off a beach may seem like a peripheral activity, but during the 2015 International Coastal Cleanup, around 800,000 volunteers picked up an estimated 18 million pounds of plastic that would otherwise have ended up in the oceans. Boyan Slat has other plans as to how the foundation can help solve this problem. “We might work on ways to prevent plastic getting into the ocean in the first place “We published a study in Nature back in June, showing that 86 per cent of the plastic is coming from Asia, and coming from a relatively small number of rivers in those areas. So, in the future, we could do something there within those river mouths. “To me that seems like a logical future expansion of what we are doing.”

What happens as solid-state batteries begin to fail?

Yao is principal investigator for a $1 million project funded by the U.S. Department of Energy to develop a new platform to study the chemical, structural and mechanical interactions at the interface between a battery's solid electrolyte and the cathode and anode.Being able to see and record the interactions at the interface will allow the researchers to watch in real time as solid-state battery performance changes.Yanliang "Leonard" Liang, research assistant professor of electrical and computer engineering at UH, said the resulting analysis will provide valuable information about how solid-state batteries perform, information that can be used to improve battery performance and reduce the risk of failure.

https://www.eurekalert.org/pub_releases/2019-10/uoh-wha101019.php

Solid-state lithium batteries have generated interest because they don't carry the same risk of fire and explosion as conventional batteries with liquid electrolytes, but full-scale commercialization has been slowed, in part, because scientists don't fully understand what causes the batteries to fail. Not knowing what has gone wrong makes it more difficult to optimize the batteries so they work more efficiently for longer periods of time. Yan Yao, associate professor of electrical and computer engineering at the University of Houston, said most battery research has focused on developing new materials and design. But current diagnostic tools aren't compatible with solid-state batteries, leaving fundamental questions. "When a solid-state battery cell dies, what has gone wrong?" Yao asked. Yao is principal investigator for a $1 million project funded by the U.S. Department of Energy to develop a new platform to study the chemical, structural and mechanical interactions at the interface between a battery's solid electrolyte and the cathode and anode. The project involves researchers from UH and Rice University. The work will provide fundamental insights into interactions at the interface but ultimately will be useful for applications including drones and electric vehicles, said Yao, who is also a principal investigator at the Texas Center for Superconductivity at UH. Being able to see and record the interactions at the interface - using tools including secondary ion mass spectrometry, focused ion beam scanning electron microscopy, in-SEM nanoindentations and atomic force microscopy - will allow the researchers to watch in real time as solid-state battery performance changes. Zheng Fan, assistant professor of engineering technology at UH and a co-PI on the project, said the researchers will build a small battery cell prototype to use in the project. The microcell will be subjected to changes in temperature, pressure and current flow as the tools measure reactions at the interface. "It is a human instinct," Fan said. "We want to see what happens." Yanliang "Leonard" Liang, research assistant professor of electrical and computer engineering at UH, said the resulting analysis will provide valuable information about how solid-state batteries perform, information that can be used to improve battery performance and reduce the risk of failure. Liang is also a co-PI for the project. Solid-state batteries aren't flammable, making them safer than traditional lithium ion batteries, he said. "But they are also different, and scientists don't know enough about them." In addition to Yao, Fan and Liang, researchers on the project include Jun Lou and Hua Guo, both with the Department of Materials Science and NanoEngineering at Rice University. Yao notes that the resulting diagnostic platform will be useful not just for researchers in his lab but for others working to improve solid-state batteries. ###

Uber acquires Routematch to expand SaaS offering

Uber has bought software company Routematch to expand its software-as-a-service (SaaS) operation for public transport agencies. The companies said that although public transport was a “vital artery” it was facing new challenges since fixed systems and routes were launched. They said inclusive transport software could help the transport agencies offer passengers, communities and businesses better value. Uber has been joining forces with global transport agencies since 2015 and Routematch, which is based in Atlanta, has 500 such deals in place in urban, suburban and rural locations.

https://www.intelligenttransport.com/transport-news/102453/uber-takes-next-steps-in-saas-venture-with-new-acquisition/

Uber takes next steps in SaaS venture with new acquisition 4 SHARES Posted: 17 July 2020 | Sam Mehmet (Intelligent Transport) Uber has acquired software provider Routematch in a bid to create new innovations for transit agencies across the globe. As a next step to become a Software-as-a-Service (SaaS) provider for transit agencies, Uber has announced the acquisition of Routematch, a software provider serving more than 500 transit agency partners in urban, suburban and rural communities around the world. Uber has been partnering with public transportation agencies around the world since 2015 with the aim to build more efficient, accessible, and equitable public transportation networks. This new acquisition is said to bring together Uber’s expertise in on-demand, mobility technologies and Routematch’s capabilities across paratransit, payments, fixed-route tools, and trip planning services to create new innovations that make it easier for agencies to provide the right transportation solutions to their riders, through an expanded suite of technologies. “Public transportation will always be a vital artery that connects people to their cities and towns. But as many have told us, there are many challenges that simply did not exist when fixed route services and systems were created decades ago. We believe that inclusive transportation software can help transit agencies deliver more value for riders, businesses, and communities,” David Reich, Head of Uber Transit, and Pepper Harward, CEO of Routematch, wrote in a statement. “We are extremely excited to bring together ideas, products, and insights from our team’s collective expertise. As allies of public transit, we look forward to finding new ways our technologies can improve transit riders’ end-to-end experiences, and expand accessibility even further for those who need it.” An example of a recent SaaS Uber partnership was with Marin Transit to launch an on-demand transit service for San Francisco Bay’s Marin County. The partnership sees Marin Transit pay Uber a subscription fee to use its management software, encompassing trip requests and matching, plus fleet tracking. It was said to be the first example of Uber venturing into a SaaS partnership. The service will offer county residents expanded mobility options to and from doctor’s appointments, grocery stores, Sonoma-Marin Area Rail Transit stations and more.

S4 Capital Popularity of private auctions declines

The trend for ad buyers to move from the open market to private marketplaces has been  reversing. Ad buyers moved to private auctions to avoid fears of fraud, hidden fees and poor-quality results in the open market, but moves had now been made to combat fraud. Private auctions, said Watson Advertising head of programmatic Felix Zeng, were “going the way of the dinosaur.” Other firms said they would use programmatic guarantees and preferred deals or the open exchange.

https://adexchanger.com/online-advertising/basic-private-auctions-are-going-the-way-of-the-dinosaur-as-programmatic-cleans-up/

In recent years, buyers have flocked to private marketplaces to avoid the fraud, hidden fees and low-quality ads they saw in the open marketplace. Agencies created a network of auction-based private auctions to protect their clients from these threats. Now the trend is reversing. As the open marketplace’s performance and safety has improved, the value of these basic private marketplaces has diminished. Buyers cite third-party measurement providers, Ads.txt, FBI arrests of ad fraud masterminds and Google’s invalid traffic refunds as positive factors that have motivated them to move budgets back to the open marketplace. “Private auctions set up purely to transact on inventory that’s available on the open marketplace are going the way of the dinosaur,” said Felix Zeng, head of programmatic at Watson Advertising. Instead of private auctions, which use the same second-price auction logic and non-guaranteed inventory approach as the open marketplace, buyers want to lock down inventory and pricing. Other private marketplace deal types, like preferred deals or programmatic guaranteed, allow them to secure inventory and a fixed price while executing the deal programmatically. “We are switching to programmatic guarantees and preferred deals. If not, we’ll stick to the open exchange,” said Niko Conner, director of accounts at S4-owned MightyHive. Both holding companies and smaller agencies are part of this trend away from vanilla private auctions. In addition to mid-sized players like MightyHive, Publicis-owned Zenith and IPG-owned Magna Global are changing their private auction strategies. Publishers like DotDash and tech platforms like Google see more interest in preferred deals and programmatic guaranteed than in private auctions. But not everyone is playing favorites with deal types – yet. WPP-owned Mindshare runs whatever deal type makes sense for its clients, using data as its guide. On the publisher side, Watson Advertising sees plenty of demand for private auctions, but for a different reason. It includes its first-party weather data in its deals, providing value beyond a fraud-free environment. In the year ahead, the calculus of where to allocate budgets will likely include more guaranteed and fixed-price programmatic deals, along with a flow of spend back into the open marketplace. Back into the open Because of the programmatic cleanup, smart buyers that left the open exchange are returning. “It’s considerably cheaper, and it’s driving performance now in a way it wasn’t a few years ago,” said MightyHive’s Conner. When a deal reverts back to the open exchange, it’s often because buyers are confident they can get the same quality inventory for a much lower price. Most significantly, Ads.txt reduces the possibility that the advertiser placed an ad on a different domain than they bid on – a game-changer cited universally among buyers. But the open marketplace has also lost value because it was an easy place to charge extra fees. Buyers are doing supply path optimization (SPO) to find low-fee paths to supply, which has successfully pressured many ad tech companies to lower fees and make them more transparent. “We curate the open exchange by working with SSPs to provide the most direct and transparent path to the publisher,” said Aleksandra Injac, Mindshare’s managing director and programmatic practice lead. Buyers also like seeing refunds every month from Google, which adjusts for fraud found after the fact (something it’s done for a long time on the search side of its business). “Putting that money right back in the pocket of advertisers was a really big positive change,” Conner said. Combined, these changes make the open marketplace a much safer place to buy. “Customers say they are more comfortable in open auctions than they were before,” said Dan Taylor, Google’s managing director of global display ads. Besides providing a clean environment, many private auctions gave buyers slightly better priority, but PMPs are now a victim of their own success. With too many buyers competing for the same slot with “better” priority, they’re paying more but winning less. “Private auctions aren’t really that private anymore,” Conner said. “There isn’t a guarantee of delivery against it like there is with a preferred deal.” Private auctions also require more manual work than the open marketplace, so the benefits must justify the effort. “PMPs [private marketplaces] are still not flawless,” said Colin Kurth, SVP of Precision, Zenith Media’s programmatic center of excellence. “There is much work that needs to be done to streamline the activation process. PMP set-up is still very manual, and many times we have to do a lot of work for private auction deals that take hours to troubleshoot.” So buyers aren’t requesting private auctions when they can get the same thing via the open marketplace: “Always-on or foundational deals are not as prevalent,” said Sara Badler, head of programmatic and strategy at Dotdash. More deals that look like IOs Although simple private marketplace setups are falling out of favor, more complex deals are thriving . “We always try to set up private deals where there is another layer of value for clients, whether it’s inventory access, pricing advantages, custom ad formats or data,” Mindshare’s Injac said. “Or it could be as simple as contextual relevancy.” On the publisher side, Watson Advertising curates deals for weather moments such as pollen count, sun or rain. Buyers must use private marketplaces to access that first-party data. “We provide the data they can’t get from the open exchange,” Zeng said. “If publishers don’t differentiate their inventory from the open exchange, there’s no reason for the buyer to go through the trouble of transacting with a [private marketplace] deal ID.” Besides data, buyers might negotiate for unique or high-performing ad units, such as video ads with high completion rates. Although costlier, these deals can yield more conversions or actions. “As we prove out better ROI and conversion rates, clients are becoming more comfortable with the higher cost but higher quality of programmatic inventory negotiated through deals,” said Kurth of Zenith. The new wave of private marketplace also uses holding companies’ buying power to negotiate rates. Big agencies are often willing to make spend commitments to secure better rates. “We’re negotiating preferred rates with the clout of Publicis Media, but also looking at the quality of the placement, including health metrics around viewability and fraud,” Kurth said. Better rates help agencies prove their value at a time when many are worried about the threat of in-housing. Even non-holding companies like MightyHive see the value of guaranteed programmatic deals. Via programmatic, marketers can manage frequency across both branding and performance campaigns in one place, which improves reach, MightyHive’s Conner said. The growth in these higher-value deals isn’t necessarily coming from a “leveling up” of always-on deals, but because new advertising dollars are flowing into programmatic. “Most of the investment in reservations in programmatic is coming from budgets we didn’t see before – traditional IO-based buys,” Google’s Taylor said. For a big launch, buyers need assurances that their campaigns will spend their client’s budget, which incentivizes them to create a guaranteed deal. Even without the time pressure of a launch, guaranteed programmatic deals ensure that agencies spend all their clients’ budgets and keep rates in check even when demand spikes and drives up prices. As more programmatic agencies eye connected TV budgets, guaranteed programmatic deals will become even more prevalent, said AJ Kintner, VP of media and publisher solutions at Merkle. Media companies will require spending commitments. “Guaranteed PMPs will make a comeback since companies like Xandr and CBS will sell their linear scatter at a high CPM if it is guaranteed,” Kintner said. The upscaling of programmatic deals benefits both buyers and sellers, said Adam Soroca, head of the global buyer team at Rubicon Project. “The re-imagination of PMPs is going to help buyers improve their outcomes and publishers improve the monetization of their properties, because they can justify higher prices for their inventory,” he said. Buyers and sellers who want to create real value with each other should think beyond a basic connection. Buyers and sellers noted that many DSPs and SSPs have already set up foundational deals for buyers to pick and choose from. If a publisher’s inventory performs well when bought this way, a direct connection needs to add something even more, whether it’s an attractive price, data or high-performing ad unit. If not, buyers will move their dollars back to the open marketplace.

Warren Buffett said this metric signaled the 2001 crash — now it’s sounding the alarm on global markets

Warren Buffett once wrote that investors would have seen the dot-com crash coming from a mile away, if they used a simple indicator.The Buffett Indicator is the total market cap of all U.S. stocks relative to the country's GDP.When it moves above 100%, it’s time to lean toward risk-off. I believe it is currently in excess of 100% so at least we know why Mr Buffet is happy to sit on approximately $140bn if cash.

https://www.thewealthadvisor.com/article/warren-buffett-said-metric-signaled-2001-crash-now-its-sounding-alarm-global-markets

Warren Buffett once wrote that investors would have seen the dot-com crash coming from a mile away had they paid attention to what he described in a Fortune article in 2001 as “probably the best single measure of where valuations stand at any given moment.” Known in investing circles as the “Buffett Indicator,” the measure is simply the total market cap of all U.S. stocks relative to the country’s GDP. When it’s in the 70% to 80% range, it’s time to throw cash at the market. When it moves above 100%, it’s time to lean toward risk-off. Apply that yardstick worldwide, and, as you can see by this chart from Die Welt market analyst Holger Zschaepitz, a sell signal is flashing. In fact, the indicator just broke through a 30-month high: Over the past two decades, global markets have taken big hits on three occasions after the ratio broke into triple digits — In 2000, 2008 and again in 2018. Meanwhile, drilling down into the market in the U.S., where stocks are holding up strong in the face of the coronavirus pandemic, shows the indicator is up in all-time record territory. Yet, for now, the U.S. stock market keeps churning out gains. At last check, the Dow Jones Industrial Average was up more than 200 points, while both the S&P 500 and Nasdaq Composite were also firmly in the green in Wednesday’s session. As for Buffett, he’s been much more active of late, having faced criticism for his lack of maneuvering during the coronavirus meltdown. Still, Berkshire, despite ramping up buybacks and building its position in Bank of America, sits on $146.6 billion in cash. This article originally appeared on MarketWatch.

French museums discovers forgeries

A museum in the south of France dedicated to works by painter Etienne Terrus, made the discovery that 82 of the 140 paintings, were not by the artist but later copies. The deception was bought to their attention when a visiting historian pointed out that some of the structures in the paintings were built after the artist died in 1922. The museum collection which was built up over a twenty year period and the local mayor Yves Bariol has apologised to all those who have visited the museum in the past. The local police have said the discovery could affect other regional artist collections.

http://uk.businessinsider.com/a-french-art-museum-just-discovered-half-of-its-paintings-are-fake-2018-4

An art gallery in France has discovered that half of its collection is fake. The Terrus museum in Elne France, dedicated to the works of Étienne Terrus, found 82 works from its collection had been incorrectly attributed to the artist. The mayor of the Pyrenees town called the situation "a disaster". A French museum dedicated to the works of painter Etienne Terrus has discovered a significant number of paintings thought to be his were fakes. The Terrus museum in Elne, in the south of France, discovered 82 works from its collection had been incorrectly attributed to the artist. According to the BBC, more than half of the collection was fake - dwindling in value from their original price of £140,000. Staff at the museum said they were not aware of the forgeries until a visiting art historian informed them. Musée Terrus in Elne, France. Google Maps The collection of paintings, drawings and watercolours was built over a two-decade period. The shocking news announced on Friday as the museum opened following a renovation. In an interview on Friday, Yves Bariol, mayor of the Pyrenees town, called the situation "a disaster" and apologised to those who had previously visited the museum. Local police are investigating the case, which they say could affect other regional artists. Terrus was born in 1857 and died in 1922 in Elne. He was a close friend of the painter Henri Matisse.

Alibaba Cloud partners with Infineon to assist IoT transition

China’s Alibaba Cloud has joined forces with German semiconductor manufacturer Infineon Technologies on an internet of things (IoT) initiative to help Chinese enterprises and cities digitally upgrade. The partners will collaborate on the planning, implementation and security standards of the IoT to help individuals and businesses deploy Alibaba Cloud’s solutions.

https://www.iottechnews.com/news/2018/aug/13/alibaba-cloud-and-infineon-team-iot-partnership-digitally-upgrade-chinese-enterprises-and-cities/

IoT News is a practical resource providing news, analysis and opinion on the burgeoning Internet of Things ecosystem, from standardisation, to business use cases, and development opportunities. We take the best research and put our own spin on it, report from the frontline of the industry, as well as feature contributions from companies at the heart of this revolution. The areas of ‘smart life’ and ‘smart industry’ are set to get a boost, as German semiconductor manufacturer Infineon Technologies and China’s Alibaba Cloud have signed a memorandum of understanding (MoU) to support both the fields by helping Chinese enterprises and cities to go through a seamless digital transition. Infineon, which is an active promoter and practitioner of Industry 4.0, will leverage its own core technology and service advantages in the field of IoT to work together with Alibaba Cloud on its operating system: AliOS Things, and provide technical services. Both companies will further delve into the planning, implementation and security standards of the IoT that will enable SMEs and individuals to deploy and access Alibaba Cloud in an economical and reliable way. David Poon, VP of power management & multimarket, Infineon Greater China, said: “Sustainable growth in mainland China is one of Infineon's most important development strategies, and is also our long-term goal in the Chinese market.” The two companies are also planning to work collectively on e-commerce channels. For this, both will use Alibaba Cloud’s integration capabilities and successful experiences in IoT to create advanced and secure IoT solutions. This is by no means the only expansion Alibaba has been involved in of late. In addition, the company opened its new data centre in Mumbai in January 2018 that looks after growing demand for cloud services from small and medium-sized Indian enterprises. The company will form a local team of professional consultants to provide service planning, implementation, and after-sales support. The cloud computing arm of Alibaba also opened a data centre in Jakarta, which is the company’s first Indonesian data centre that supports the company’s ongoing commitment to back Indonesia’s government in creating 1,000 startups by 2020. Interested in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more. The show is co-located with the AI & Big Data Expo, Cyber Security & Cloud Expo and Blockchain Expo so you can explore the entire ecosystem in one place.

Why It’s Time to Finally Worry about ESG

Robert Eccles, a visiting professor of management practice at Saïd Business School at the University of Oxford, says that the global investment community’s interest in environmental, social, and governance (ESG) issues has finally reached a tipping point.

https://hbr.org/ideacast/2019/05/why-its-time-to-finally-worry-about-esg

Robert Eccles, a visiting professor of management practice at Saïd Business School at the University of Oxford, says that the global investment community’s interest in environmental, social, and governance (ESG) issues has finally reached a tipping point. Large asset management firms and pensions funds are now pressuring corporate leaders to improve sustainability practices in material ways that both benefit their firms’ bottom line and create broader impact. They’re also advocating for more uniform metrics and industry standards. Eccles is the author of the HBR article “ The Investor Revolution .” ALISON BEARD: Welcome to the HBR IdeaCast from Harvard Business Review. I’m Alison Beard. What issues do the world’s largest investors care about most, right now? What do the big asset management firms, and government pensions funds, want to see from their portfolio companies? According to research conducted by our guest today, there is one area that’s top of mind for everyone, and it may surprise you. Investors want business leaders to focus on ESG, or environmental, social and governance metrics. That means progress on ESG isn’t just a nice-to-have anymore. It’s something shareholders will demand, because they believe it’s going to drive everything else they care about. Growth, market share, profitability. So, for any company keen to attract capital, sustainability has to become a focus. Robert Eccles is a visiting professor of management practice at Saïd Business School at the University of Oxford. He’s the coauthor of the HBR article “The Investor Revolution.” Robert, welcome to the show. ROBERT ECCLES: Thank you very much. Nice to be here. ALISON BEARD: So, you say at the start of the article that a lot of business leaders seem to think that ESG issues still aren’t totally mainstream. Why do you think that is? ROBERT ECCLES: You know, I think there’s a couple of things that go into it. They will say, when you talk to people in the corporate community, maybe the investors care about it, but we don’t know, because they never ask us about it. Historically, I think companies came to sustainability long before the investment community, to give them credit. A lot of it had to do with sustainability reporting that started in the late 1990s. It was not a side show, but it was definitely not mainstream. They did good things, mostly ancillary to what the company’s business was. They picked the low-hanging fruit – carbon emissions, turn off the water and lights at night and stuff. But it really wasn’t integrated into the business. And I think what changed was, as people began to realize that these environmental, social, and governance issues mattered to financial performance, both the corporate community and the investment community started to see things differently. Because historically, when you talked about sustainability on the investor side, people thought about socially responsible investing, where you were excluding stocks and industries that you didn’t like, or companies that you didn’t like, or even countries, like South Africa under Apartheid, and there was the belief that if you put in these values-based on exclusions, then you were going to lose returns. ALISON BEARD: And you studied large outside managers, like BlackRock, State Street, Vanguard, large pension funds from California, Japan, Sweden. Has there been a tipping point among those large investors that now this is one of their very top priorities? ROBERT ECCLES: So, I think we’re at the tipping point. I think it’s a top priority. I think the degree to which the commitment to “sustainability” or sustainable investing is, it varies. There’s data that shows over 50 percent, a little over 50 percent, of assets are invested in sustainable investing in Europe. It’s about a third in Canada. It’s about 25 percent in the United States, which people find surprising, Bank of America Merrill Lynch did a study. They asked their corporate clients what percentage of their assets they thought were held by sustainable investing shops, and they thought it was 5 percent. So, what you see is, at the top of the house, the chief executive officers, the chief investment officers of the BlackRocks, of the State Streets, of the Vanguards, they know that it’s important to take these factors into account from a fiduciary point of view. From running a returns point of view. The trick is to push that down. This is a massive cultural change, right? It’s one thing for the top to say we think this is important. Inside these organizations, there’s all these portfolio managers, and they’re fairly autonomous, as they should be, they’re professionals, and they need to make their own judgments. And so that’s kind of where the frontier is, is convincing the portfolio managers, who have historically built only financial models. And when the portfolio managers have a conviction that understanding the company’s ESG performance – on the material issues, which vary a lot by sector – and they start factoring that into their models, and they start factoring that into the conversations that they’re having with the CEO’s and the CFO’s, that’s a game changer. When the CEO and the CFO are hearing about sustainability themes from the people who buy and sell their stock, then that makes it become very real. Has that happened yet in a broad scale? No. Is it happening now? Yes. ALISON BEARD: So many funds say that they consider ESG as it becomes more important to the financial health of their portfolio companies, but that’s very different than committing to bail on a company that’s otherwise successful but isn’t making progress on these issues. So, what concrete steps can asset managers, pension funds, take to make sure that they are pushing for real change? ROBERT ECCLES: So, it’s a good question, and it comes down to reporting and metrics and standards. ALISON BEARD: And those are incredibly hard to measure, even within an industry or a country, never mind across. ROBERT ECCLES: They’re hard, but they’re not impossible. And so, I always like to tell a little story about accounting standards. ALISON BEARD: OK. ROBERT ECCLES: I know it sounds boring. ALISON BEARD: I’m sure it’s going to be a fascinating one. ROBERT ECCLES: I know it sounds boring, but it’s really important. They didn’t always exist. So, in the United States, before the Securities and Exchange Commission was formed, there was a gazillion little accounting firms, and they all had their own accounting standards, and they all had their own auditing approaches. Listed companies didn’t have to report. They did it on a voluntary basis. A lot of them didn’t report revenues. They thought it was information their competitors would use against them. So, there was the crash of ’29, there was the Great Depression, and in ’33 and ’34, the SEC was formed, and they said our mission is to protector investors through transparency. And the accounting community pushed back and said “Oh my gosh, this is as much art as it is science. You can’t standardize this.” And companies said “We’re unique, and we have to have our own way of reporting,” and they said “oh my god, if we have to report our revenues, the sky will fall.” Well, we got there. That is a bedrock for the capital markets that everybody takes for granted. It’s apples-to-apples comparisons, audited to say that they did it right, and investors really rely upon financial information to make decisions. Think of it as plumbing or infrastructure. We don’t have that plumbing or infrastructure for environmental, social and governance information, and I think until we do, it’s going to be very difficult for companies to manage their performance, to report on their performance, for investors to be able to evaluate their performance. Progress has been made. There’s a group called Global Reporting Initiative, which was started in the late ‘90s. I was the founding chairman of something called the Sustainability Accounting Standards Board. What these groups are doing are trying to identify for particular industries – so a bank’s carbon emissions is the bank itself for nonmaterial, but it’s approach to systemic risk is, whereas as for a big chemical company, carbon emissions are important. What are those material issues that matter to financial performance, how to report on them in a way that you can have apples-to-apples comparisons? It’s a little bit of a Wild West out there, but I think it’s improving pretty quickly. ALISON BEARD: Will it eventually require government intervention? ROBERT ECCLES: So, the blunt answer is yes. Yes. It will, we, so everybody goes “oh, well, if this is so good, and investors really want it, and companies think it’s to their benefit, then market forces will work.” No. Market forces didn’t get us financial accounting standards. It took a crisis, right? And, I know it’s unpopular, particularly in this country, particularly at this point in time, to say the government should step in at some point. Europe is further along. They’ve got their Accounting Director for Nonfinancial Information. The way I would see it playing out in the United States – it won’t happen in the next year or two. But let’s say investors start adopting some set of standards, and they become relatively common, and companies find that it’s a good basis for the conversations that they’re having with their investors. Then when you get enough of a critical mass, then I think the investment community goes to the SEC and says “remember, SEC, your role is to protect us through transparency, we find this information useful, it would be better if we got it from every company – because probably the companies that are performing poorly aren’t reporting. It would be better if it was to a set of standards, so we can compare apples-to-apples. It would be better if it was audited, so we knew that there was some degree of reliability.” And if there was already enough of this happening in the corporate community, then I think the SEC would be less nervous about this sort of pushback that they get when there’s things that come through legislation, like Sarbanes-Oxley, and then people freak out and say “you put this big reporting burden on me.” ALISON BEARD: Right. ESG, there are three really huge buckets, environmental, social, governance. So, do investors want companies to be thinking across all of them? Is there some stage at which they get parsed out? ROBERT ECCLES: So, good question. I think E, S, and G, probably the first initial separation is that the G is not the same as the E and the S. ALISON BEARD: Right. ROBERT ECCLES: So, just good governance is important, period. An argument could be made that if you have the appropriate corporate governance at the board level, then the relevant environmental and social issues will be managed properly. That it is the duty of the board who represents the interests of the corporation, not what everybody believes they have to put shareholders first. The board of directors is responsible for the intergenerational viability and vitality of the company. When the board recognizes that there are material environmental and social issues, and sees to it that management is managing and reporting on those to them, I think you start to get some structure to it. And going back to the Sustainability Accounting Standards Board, so what they’ve done is created a classification system, there’s 11 sectors, it subdivides into 77 industries, through industry working groups of companies, investors, NGOs, intermediaries, have identified what the material issues are, out of a list of 26 ESG issues. And so I gave some examples – a pharmaceutical company, access to medicine, safety, and clinical trials, those are material issues. Supply chain is not. Pharmaceutical companies don’t have a supply chain. Agriculture companies do. Fast-moving consumer goods companies do, that have long supply chains and developing markets. So, what they’ve done is identify those issues that both represent risk factors, and opportunities, and what’s interesting, when you look at the work they’ve done, is it’s a relatively small number. So what’s material from an investor point of view, it’s five, it’s six or seven things that really matter. Then I think you need to separate out ESG. ESG is not the same thing as impact, right? So, the materiality definition of SASB, is like FASB, is like the International Accounting Standards Board, it’s essentially those things that matter to investors. Impact is about those things that matter to the world. And increasingly, people are looking at impact through the lens of the sustainable development goals. So, companies product externalities from their products and services. There’s externalities from oil and gas, which we all well know. There’s externalities from sodas and candy bars, and fatty foods, and all of this. And so, on the one hand, yes, a company should manage its material issues from an investor point of view. The big investors, the big passive investors that aren’t going to sell a stock, BlackRock has $7 trillion in assets under management. They’re universal owners. CalPERS – $350 billion, they’re a universal owner. Which means that they can’t diversify away from the marker. So, if the world goes to hell, from climate change, from income inequality, they’re screwed, so they’re not going to be able to get their returns. So, not only do they are about ESG, but the frontier now is they care about impact. They want to know what the externalities are that are being created by the companies that they invest in, because when you aggregate up all those externalities, it affects the state of the world. ALISON BEARD: Right. And is that focus on good for the world filtering down from those huge asset managers, who have to care about it, to the broader investment community? To companies who know that it doesn’t actually affect their bottom line in the short to medium term? ROBERT ECCLES: The good for the world question is a really tough one, right? Because of the beneficiaries, people like you and me, well maybe you more than me, because I’m a lot older than you, what’s long-term for you is longer than what’s long-term for me. They want to know that they’re going to be able to continue to get the returns 20, 30, 40 years from now, or for their children. For companies, what you see is the millennials, not surprisingly, they are concerned about the state of the world. And the really big asset owners and asset managers can think about the state of the world. In fairness to companies, it’s harder, right, because any one company’s externalities, unless there’s laws, or taxes, or regulations that makes them internalize them, they can be very responsible, and they can have less negative externalities, if they’re managing the ESG issues well, but they’re still producing negative externalities, and they could be behaving very well by the rules of the game and being really responsible. So you get to a deeper question, one I don’t even really touch on in my article, which is – but there’s interesting work being done about – what is the role of the corporation in society? So, there’s a great book called Prosperity that my colleague, Colin Mayer, wrote at Oxford. When you look at the history of the corporation, the form that we have now, it’s a relatively recent invention. It’s maybe 120 years old. In the 1900s, corporations were formed with a limited lifespan to do a particular thing, like go build a canal. The canal is built, and it’s done, and you got the tolls, and you wrap it up. Then, we got corporations that could have an eternal life, they could have very broad charters, and the etiologies have been that they have to put shareholders first, so there’s a big and important question about what is the role of the corporation in society? ALISON BEARD: Whether we’re pushing for progress on ESG or progress on impact, what do companies, like oil and gas companies, like airlines, even like Uber, who has been criticized for not treating its workforce very well, is crowding our streets, taxing our infrastructure, how do all of those companies get ready for this new world, where investors of all sorts are going to care about ESG and impact? ROBERT ECCLES: I think it really starts with the board of directors. And I’ve mentioned this little idea that I’ve been working on with the guy named Tim Youmans for some time now, and we call it the “statement of purpose”. So, the board should publish one, two-page max, statement of purpose, where they give their view of what the role of the corporation is in society. And we’re being very values neutral. If the board wants to come out and say: “our view, as the board of directors – who are the highest body representing the corporation – we think the purpose of this company is to deliver short-term earnings, on a consistent basis, to short-term shareholders,” then that’s their call. They can do that as the board. Just be transparent and say this is what you think this company is about. People will make their decisions. They may want to work there, maybe they won’t. Maybe they’ll want to buy their products, maybe they won’t. The board can say “well no, we think that there is a broader purpose. We understand we owe our investors good returns over the long term, we don’t have to go quarter by quarter.” And if you’re in Uber, the board could say “we believe Uber has a responsibility to the communities in which our drivers operate. We need to think about what this means for traffic congestion, and we need to think about what this means for taxi companies, and whether they should be allowed, we need to think about, do we pay them fairly?” You can’t say every stakeholder is equally important, right? So, the company has to identify. In an oil and gas company, the board would take a position on whether they think climate change is real or not, and what the company is doing to address it. Do they have targets willing to report according to the task force on financially related climate disclosures? I have a campaign with Tim and Hermes Equity Ownership Services – we want every listed company’s board of directors to publish a statement of purpose by 2025. ALISON BEARD: So, when you’re talking to corporate leaders about this, or even investors about putting on the pressure, how do you respond when people say, I’m not going to go first? I’m going to wait for critical mass. How do you respond? How do you persuade them? ROBERT ECCLES: So, the line I like to use is, everybody wants to be a leader, nobody wants to go first, as you said. Everybody wants to go to heaven, nobody wants to die. It’s like decide, do you want to be a leader, or do you want to be a fast follower, or do you want to be a lagger? And, I can’t make that decision for people. I think if we could get enough companies, in enough industries, in some of the major markets, to take this step, then it becomes less scary to other people. I have a company that I’m talking to that is quite serious about all of this. If you knew who they were, you’d be shocked. And if this company does the things that they’re talking about doing, people will be shocked, they will be a poster child – it’s hard to find poster children, right, Unilever is a poster child, Novo Nordisk, right? And my argument is going to be, if this company can do this, every company can. So, stay tuned. ALISON BEARD: Right. So, I was going to ask about companies that you think are doing a great job already. You would put Unilever and Novo Nordisk in that category? ROBERT ECCLES: Yeah, I would. Novo Nordisk was one of the very first companies to publish an integrated report back in 2002 or 2003, or something like that. I think Unilever under Paul Polman has been great. He’s a hard act to follow, so I’m not even sure who the next CEO is, but there’s a Brazilian company called Natura, which also was one of the first companies to do integrated reporting. But what’s interesting is, I can’t rattle off ten. Isn’t that telling, right? And so I go around, and I remember having a conversation with Paul once. He was going you know, any company can do this, it’s not that big a deal, it’s not that hard. I said Paul, “you keep saying that. But most companies don’t, right, so what’s the deal?” He said “I’ve got a very supportive board.” The board supported him when there was that hostile takeover that Kraft was attempting. And there’s work that’s been done by McKinsey, which shows that one of the biggest pressures for short-term earnings on CEOs is their own board of directors. And I’m not trying to say that the boards of directors are culprits, but, but let’s be honest, boards of directors on the whole are – they look more like me than they look like you. They’re boys, not girls. They’re older, not younger. They grew up in a certain era, they see the world in a certain way. In the United States, they are heavily compliance focused. CEOs are getting ESG, boards of directors aren’t, but I think getting to the board is important. ALISON BEARD: What about asset managers and pension funds, who have done a good job of pushing that idea of caring about ESG, making investment decisions based on it, and then even taking the step further of caring about impact, down to the people on the ground, who are interacting with companies. Who’s done a good job of that? ROBERT ECCLES: So, I think there’s some – let me say one thing about the relationship between asset owners and asset managers, which is, they need to improve their relationships a little bit, too, right. Because as I said, ESG and long-termism are two sides of the same coin, so when asset owners are telling their asset managers, we want you to focus on ESG issues, or tell us how that fits into the strategy, or want you to engage with companies, but oh by the way, we’re going to evaluate your performance every year and benchmark you, it’s like well come on, it’s like– ALISON BEARD: Yeah, there’s a disconnect. ROBERT ECCLES: There’s a disconnect there. So, I think these contracts between the asset owners and the asset managers need to become longer term as well, and maybe there’s nonfinancial metrics that should go into that. If you look at the top 10-12 asset managers, I think there’s 13 in the world that have a trillion dollars or more, to varying degrees, they’re all quite serious about this. BlackRock I think is. ALISON BEARD: But serious enough to make it more than a consideration in their fund management? ROBERT ECCLES: I think that they’re going down that path. Would I say that every single fund incorporates this? No. And some of this is the mandates they get from clients. But we’ve talked about all of these different groups. We haven’t talked about individual citizens very much, those are called civil society, and we all wear different hats. We work for a company, we buy stuff from the companies, we invest in the companies, and if their voices were heard, if there’s a way for their voices to be heard, to say this is what we expect from the people who manage our money, in terms of the companies that they invest in, that’s an important force, because in the end, it’s our money. The asset owners are managing money for the beneficiaries, for the pension fund, or whatever it is, and they allocate it to the asset managers. But to the extent that civil society can be mobilized, then that will make a big difference. ALISON BEARD: They’re not only the investors, they’re also the consumers. ROBERT ECCLES: They’re the consumers. If these things matter to them, and it determines whether they want to work for the company, or they want to buy stuff from the company, or they want to invest in this company, that is a sea change, that is a game changer. ALISON BEARD: Great, that’s a terrific note to end on. Thank you so much for coming in. ROBERT ECCLES: Thank you. ALISON BEARD: That’s Robert Eccles, a visiting professor of management practice at Saïd Business School at the University of Oxford. He’s the coauthor of the HBR article, “The Investor Revolution.” You can find it in the May-June issue of Harvard Business Review. This episode was produced by Mary Dooe, we get technical help from Rob Eckhardt, and Adam Buchholz is our audio product manager. Thanks for listening to the HBR IdeaCast. I’m Alison Beard.

Autonomous Farm Equipment Global Market Report 2020-30: Covid 19 Growth and Change

The global autonomous farm equipment market is expected to decline from $72.76 billion in 2019 to $66.98 billion in 2020 due to COVID-19. The market is then expected to recover and reach $102.12 billion in 2023 at a CAGR of 15.09%. The increasing use of autonomous tractors is a key factor driving the growth of the market.

https://www.globenewswire.com/news-release/2020/07/09/2060237/0/en/Autonomous-Farm-Equipment-Global-Market-Report-2020-30-Covid-19-Growth-and-Change.html

New York, July 09, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Autonomous Farm Equipment Global Market Report 2020-30: Covid 19 Growth and Change" - https://www.reportlinker.com/p05930672/?utm_source=GNW The global autonomous farm equipment market is expected to decline from $72.76 billion in 2019 to $66.98 billion in 2020 at a compound annual growth rate (CAGR) of -7.94%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $102.12 billion in 2023 at a CAGR of 15.09%. The autonomous farm equipment market consists of sales of autonomous farm equipment and related services for agriculture, horticulture, animal husbandry, and forestry. Within a unified framework, autonomous farming is the modeling and regulation of agricultural machinery. These farming technologies use the on-farm sensing and control power of automated farming equipment to reach agronomy-based targets. North America was the largest region in the autonomous farm equipment market in 2019. In November 2019, Raven Industries Inc., a USA-based leader in precision agriculture, high-performance specialty films and lighter-than-air technologies, acquired Smart Ag Inc. for an undisclosed amount. Through this acquisition, Raven Industries Inc. will be integrated into the division’s business and technology portfolio with the intent to create autonomous solutions for the precision agriculture market. Smart Ag Inc. is a USA-based technology company that develops autonomous farming solutions for agriculture. The autonomous farm equipment market covered in this report is segmented by product type into tractors, harvesters, unmanned aerial vehicles (UAVs), others. It is also segmented by technology into partially autonomous, fully autonomous, and by application into agriculture, horticulture, animal husbandry, forestry, others. The fear of unemployment due to automation is a key factor hampering the growth of the autonomous farm equipment market. The developments in AI and robotics would have a significant impact on regular working lifestyles, comparable to the change away from agricultural societies during the industrial revolution. In the US alone, between 39 and 73 million jobs will be automated, representing approximately a third of the total workforce. A recent study estimates that as many as 800 million jobs will be lost to automation worldwide by 2030. Therefore, concerns about the rise in unemployment due to automation are expected to hinder the growth of the autonomous farm equipment market. The increasing use of autonomous tractors is a key factor driving the growth of the autonomous farm equipment market. Autonomous tractors use a number of sophisticated systems and sensors which would possess an effective self-driving vehicle, and by incorporating these advanced systems in run-of-the-mill farming, farmers will experience positive technological effect in the workplace. Alternatively, autonomous tractors can be set up to function as mobile hotspots to collect data from sensors in the field. Also, about 34.5% of the global demand for autonomous farm machinery will retain 31–100 HP output capacity of farm tractors in 2026. Therefore, the demand for autonomous tractors is expected to drive the growth of the autonomous farm equipment market. Read the full report: https://www.reportlinker.com/p05930672/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________

SpaceX Starship hardware mystery solved amid reports of Florida factory upheaval

In an unexpected turn of events, SpaceX appears to be preparing to ship major Starship hardware from its Cocoa, Florida facility to a similar worksite in Boca Chica, Texas.Instead of the friendly internal competition that pitted Cocoa against Boca Chica in the race to first Starship flight, SpaceX is significantly slowing down its Florida build operations and will redirect as much of its workforce and resources as possible to Boca Chica.The Starship dome and stands now likely headed for Boca Chica were built over the course of a month or two in Florida, meaning that they were either built under the impression that they would support Boca Chica’s Starship Mk3 prototype or repurposed after SpaceX decided to pause work in Cocoa.

https://www.teslarati.com/spacex-starship-hardware-mystery-solved/

By A SpaceX Starship hardware mystery has been effectively solved after rocket parts arrived at Port Canaveral and were loaded aboard a transport ship, seemingly preparing for an unexpected journey by sea. SPACEX STARSHIP: 2 Starship bases & a Bulkhead that had been removed from the Cocoa site have just been loaded onto Go Discovery in the Port. My guess is that they are on their way to Boca Chica, but thats just my guess. Care to enlighten us @ElonMusk? #SpaceX #Space #Science pic.twitter.com/up6YwrYJKE — Greg Scott 🚀🚢😎 (@GregScott_photo) November 30, 2019 In an unexpected turn of events, SpaceX appears to be preparing to ship major Starship hardware from its Cocoa, Florida facility to a similar worksite in Boca Chica, Texas. Spotted for the first time in a photo taken by local photographer Greg Scott on November 30th, that hardware – at least two large stands and a nearly-complete steel tank dome – abruptly appeared beside SpaceX’s Port Canaveral dock space. SPACEX FLEET: OCISLY is getting a clean up today after sitting idle for a couple of weeks now. Eagerly anticipating the recovery of booster B1059.1 from next weeks #CRS19 mission to the ISS. I am still not sure why it was not designated as a LZ1 landing but… #SpaceX #Space pic.twitter.com/gVZ2H5d6lb — Greg Scott 🚀🚢😎 (@GregScott_photo) November 30, 2019 Seemingly within hours of their appearance, new vessel GO Discovery also arrived in Port Canaveral and parked by the same SpaceX docks. Shortly thereafter, workers loaded her with both build stands and a Starship tank dome and secured the surprise cargo. As it turns out, another local SpaceX-follower and prolific photographer/videographer happened to capture the disappearance of both stands and dome from SpaceX’s nearby Cocoa, FL Starship construction facility, where Starship Mk2 and Starship Mk4 were being built. Two @SpaceX #Starship bases sitting on flattop trailers waiting to go to their new home. pic.twitter.com/bhzRwory6b — John Winkopp (@John_Winkopp) November 26, 2019 This bulkhead and the two iron bases have been moved from @SpaceX #Starship Cocoa Facility on the 26 November 2019. Where? pic.twitter.com/LBYNITZptb — John Winkopp (@John_Winkopp) November 27, 2019 This neatly ties up the minor mystery of where that hardware went: SpaceX clearly moved all three parts to Port Canaveral, where they have since been loaded on a small supply ship. Two main questions remain, however: why have they been moved to the port and where are they headed? The band is breaking up Unfortunately, it appears that both questions can effectively be answered by a report published by YouTube channel “What about it?!”. According to former Cocoa employee that spoke to reporter and channel creator Felix Schlang, SpaceX has reportedly transferred up to 80% of the Starship facility’s workforce to other groups in Florida and Texas. Instead of the friendly internal competition that pitted Cocoa against Boca Chica in the race to first Starship flight, SpaceX is temporarily slowing down its Florida build operations and will redirect as much of its workforce and resources as possible to Boca Chica. According to Schlang’s source, this will likely result in several months of relative downtime in Florida, while he was also told that Starship Mk2 and Mk4 are now effectively dead before arrival as a result of several challenging and reoccurring technical issues. Starship Mk2 likely shares some significant heritage with Starship Mk1, which lost its top during a pressure test. Roughly two-dozen steel Starship Mk4 rings may also be scrapped after SpaceX’s Florida team could not overcome a technical hurdle. Per the source, many of those single-weld steel rings were slightly different diameters, making it next to impossible to build a sound pressure vessel (i.e. Starship Mk4) with them. Combining the appearance of Starship hardware on GO Discovery just yesterday and reports of major Cocoa layoffs, it’s all but certain that the Starship components on Discovery are going to head to Boca Chica, Texas. Schlang’s source also indicated that all affected employees were given the option to transfer to Boca Chica or Hawthorne, a prime indication that this abrupt change in plans is more a strategic move than a financial one. With any luck, most affected employees will be able to transfer to Florida pad operations or Boca Chica, although such a major and abrupt change is likely a no-go for anyone with major ties to South Florida. The Starship dome and stands now likely headed for Boca Chica were built over the course of a month or two in Florida, meaning that they were either built under the impression that they would support Boca Chica’s Starship Mk3 prototype or repurposed after SpaceX decided to pause work in Cocoa. Of note, something like 8-12 of Starship Mk4’s steel rings were able to be stacked and all of those double-rings are still present at SpaceX Cocoa, while a number of single rings were indeed scrapped over the last few weeks. A header tank was also reportedly removed from Starship Mk2’s more or less finished nose section. If any of that hardware is technically viable, there’s a good chance that they may also be shipped to Texas to expedite Starship Mk3 integration. One header tank that extended blow the lip of the nose cone was removed which will make transport of the nose cone easier. — John Winkopp (@John_Winkopp) December 1, 2019 Ultimately, given how rapidly SpaceX makes and changes decisions, pausing work in Cocoa doesn’t come as much of a surprise. It’s also far from the end of SpaceX’s Florida Starship-building efforts – Schlang indicates that SpaceX will instead focus on a similar facility located within Kennedy Space Center, making the process of building Starships offsite and transporting to Launch Pad 39A far more viable. With this latest surprise, it also appears that SpaceX is now laser-focused on getting Starship Mk3 ready for South Texas flight testing. Stay tuned for an update on a flurry of recent developments at SpaceX’s Boca Chica Starship facilities. Check out Teslarati’s newsletters for prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket launch and recovery processes. SpaceX Starship hardware mystery solved amid reports of Florida factory upheaval

Spending on robotic process automation set to hit $680m in 2018

Spending on robotic process automation (RPA) will amount to roughly $680m in 2018, according to analysis from Gartner. This would mark a YoY increase of 57%, putting the market on pace for $2.4bn of spending in 2022. RPA, which monitors how people process transactions in order to build a robotic system, is viewed by data input-heavy organisations, like banks and insurance firms, as an easy way to automate manual tasks with a small margin of error. It is thought that 60% of companies with revenue above $1bn will deploy RPA tools by the year's end, increasing to 85% by 2022.

https://www.zdnet.com/article/gartner-robotic-process-automation-software-spend-set-to-hit-680m-this-year/

Spending on robotic process automation (RPA) software is estimated to reach $680 million in 2018, according to tech analyst Gartner as companies look for ways to automate basic business tasks. This is an increase of 57 percent year over year; according to Gartner, RPA software spending is on pace to total $2.4 billion in 2022. RPA uses software to understand how people process transactions in an attempt to then use those rules to build an automated systems that can perform those roles instead. "End-user organizations adopt RPA technology as a quick and easy fix to automate manual tasks," said Gartner VP, Cathy Tornbohm. "Some employees will continue to execute mundane tasks that require them to cut, paste and change data manually. But when RPA tools perform those activities, the error-margin shrinks and data quality increases." Among the biggest adopters of RPA today are banks, insurance firms, utilities and telecommunications companies, Tornbohm said. "Typically, these organizations struggle to knit together the different elements of their accounting and HR systems, and are turning to RPA solutions to automate an existing manual task or process, or automate the functionality of legacy systems," she said. In separate research, the Australia and New Zealand analyst firm, Telsyte, said that RPA spend is set to hit AU4870m by 2020. Gartner estimates that 60 per cent of organizations with a revenue of more than $1 billion will have deployed RPA tools by the end of the year and by the end of 2022, 85 per cent of large and very large organizations will have deployed "some form of RPA". SEE: Special report: How to automate the enterprise (free ebook) "The growth in adoption will be driven by average RPA prices decreasing by approximately 10 percent to 15 percent by 2019, but also because organizations expect to achieve better business outcomes with the technology, such as reduced costs, increased accuracy and improved compliance," added Tornbohm. But she also warned that RPA is not a one-size-fits-all technology and that there are cases where alternative automation achieves better results: "RPA solutions perform best when an organization needs structured data to automate existing tasks or processes, add automated functionality to legacy systems and links to external systems that can't be connected through other IT options." In order to make an RPA project a success, leaders must first evaluate the possible use cases for RPA in their organization and also focus on revenue-generating activities. "Do not just focus on RPA to reduce labor costs," Tornbohm said. "Set clear expectations of what the tools can do and how your organization can use them to support digital transformation as part of an automation strategy." PREVIOUS AND RELATED COVERAGE With latest SAP S/4HANA cloud release, SAP begins automation process march SAP prefers the intelligent process automation term over robotic process automation, but the end result is the same. Automation will become central to business strategy and operations Automation will be central to the next phase of digital transformation, driving new levels of customer value such as faster delivery of products, higher quality and dependability, deeper personalisation, and greater convenience. Generation Z cheerfully welcomes our new robotic overlords The next generation to enter the workforce are pretty confident about their tech skills and aren't worried by the rise of artificial intelligence and automation -- at least not yet. What is robotic process automation and why does it matter to your business? (TechRepublic) Gartner researcher Paul Delory explains the core value of RPA for frontline workers, the challenges it presents, and how it will impact jobs. Digital transformation in 2019: AI, robotics, and IoT to play starring roles Digital transformation has been a high priority for many organisations for some time, and likely will continue to be for some time. But what's in store for transformation in 2019? Killer AI robots must be outlawed, says UN chief Machines that can decide to kill humans are "morally repugnant", says UN general secretary António Guterres. Campaign 2018: Artificial intelligence is automating attacks on political campaigns (CNET) Google and Microsoft are helping political campaigns defend themselves against hackers using automated attacks. LG to develop smart cart for Korean supermarket chain LG Electronics and E-Mart will co-develop a smart cart for use in South Korean supermarkets that will follow customers around instead of being pushed.

EasyJet row worsens as founder threatens to sue airline's executives

The founder of easyJet has warned he will sue executives at the airline if they spend a "penny" on a £4.5bn order for new planes. Sir Stelios Haji-Ioannou said going ahead with the Airbus deal could result in easyJet failing to repay £600m in government loans on time - and described the purchase as "a misuse of taxpayers' money". Sir Stelios - who holds the biggest stake in the airline - wants a meeting of easyJet shareholders so they can vote on removing Mr Findlay and Andreas Bierwirth, another director.

https://news.sky.com/story/easyjet-founder-vows-to-sue-execs-if-they-spend-a-penny-on-new-planes-11970245

The founder of easyJet has warned he will sue executives at the airline if they spend a "penny" on a £4.5bn order for new planes. Sir Stelios Haji-Ioannou said going ahead with the Airbus deal could result in easyJet failing to repay £600m in government loans on time - and described the purchase as "a misuse of taxpayers' money". He has previously warned that the company will run out of money by "around August" if the order is not cancelled. Please use Chrome browser for a more accessible video player 2:20 EasyJet grounds all flights On Wednesday, he renewed his demands for the airline to remove chief finance officer Andrew Findlay to "stop him from signing any more billion-pound cheques to Airbus every year". Sir Stelios - who holds the biggest stake in the airline - wants a meeting of easyJet shareholders so they can vote on removing Mr Findlay and Andreas Bierwirth, another director. In a statement, he said: "Unless this vote of all shareholders is called without any further delay, I will request that more directors be removed." EasyJet rejected his request for a shareholder meeting on Friday. The budget airline has grounded all of its 330 planes as demand for flights collapsed due to the coronavirus pandemic. Sir Stelios has stressed he will not invest any more cash into the airline while the contract with the plane manufacturer is in place. Advertisement His statement continued: "We must stop this river of money from the Bank of England via Luton airport to Toulouse where Airbus is based. "This is a misuse of UK taxpayers' money. "If the French government wants to spare Airbus from the cost of aircraft order cancellations, so they can keep French people in jobs, then they must give such support as French state aid and not expect a British airline to foot the bill." He warned he would "personally sue" executives for a "breach of their fiduciary duties" if the firm spends "a penny" on the Airbus order while defaulting on other financial obligations. :: Listen to the Daily podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker EasyJet said in a statement its board "fully supports" Mr Findlay. The £600m government fund is from the UK's Covid Corporate Financing Facility (CCFF) to help firms during the pandemic, which is due to be repaid in March 2021. EasyJet is understood to consider the government loan as the right course of action and is in talks with suppliers and partners to reduce costs. The airline also announced it will borrow a further $500m (£406m) from commercial creditors as part of its "focus on maximising liquidity". An easyJet spokesman said: "We remain absolutely focused on removing expenditure from the business, engaging with all of our business partners and suppliers including Airbus, and on safeguarding jobs and short-term liquidity. "The board fully supports Andrew Findlay, easyJet's CFO, and stands by its collective decision to access the CCFF which was made in the best interests of the company." The spokesman added that holding a general meeting "would be an unhelpful distraction" from tackling the many immediate issues the firm is facing.

Malware Hits Payment Card Data at 12 InterContinental Hotels

Hackers targeted InterContinental Hotels Group (IHG) with point-of-sale malware causing a possible breach of payment card data at 12 locations in the US, Canada and Aruba. The malware affected cards used at some of the hotel chain's restaurants and bars between August and December, although did not affect front desk transactions. Customers are urged to check an online list for details of which hotels were affected and when, and contact authorities as necessary. IHG said it was investigating the breach with law enforcement officials and working with security firms to review its safety measures. Hyperlink for list: https://www.ihg.com/content/us/en/customer-care/protecting-our-guests?_PMID=99634986&cm_mmc=CJ-_-2617611-_-7752146-_-IHG-BookNow-EN&glat=AFFI

http://www.digitaltrends.com/computing/intercontinental-payment-card-malware/

Malware struck the InterContinental Hotels Group (IHG) with 12 of its locations reporting a possible breach of payment card data from August to December, KrebsOnSecurityReports. Servers for hotels in the U.S. were infected with malware that was trying to find track data from a card’s magnetic strip. This includes card numbers, names, expiration dates, and verification codes that had been gathered by the hotels’ restaurants and bars. Hotel front desk transactions were not affected. Recommended Videos The hotel group has not publicly stated if any data was in fact stolen and the number of breached cards has not been disclosed either. Customers can check this list for the details on when a hotel was infected and the time period involved. If you were a customer at one of the hotels, the company urges you to check for suspicious transactions and to contact authorities as necessary. The investigation is ongoing to see if more hotels have been affected. “IHG has been working with the security firms to review IHG’s security measures, confirm that this issue has been remediated, and evaluate ways to enhance IHG’s security measures,” InterContinental said in a statement. It added that it is working with law enforcement to investigate the breach and is in contact with banks to help make customers aware. This isn’t the first time that InterContinental has been targeted by malicious actors. Hotels have become popular targets for hackers trying to steal payment card data given the volume of transactions that occur at hotels like InterContinental. In August, a hacker campaign dished out malware for Starwood, Marriott, and Hyatt hotels with malware allegedly scooping up payments data for over a year before it was detected. Point-of-sale malware like this is regularly seen in the retail and hospitality sector like the infamous breaches at Target and Home Depot. The stolen data can be potentially sold on for a profit on illicit online marketplaces. Editors' Recommendations

BoE proposals re new collateral rules pushing investors to migrate from LIBOR

The BoE is seeking comments on how to protect its balance sheet from the risks associated with the phase-out of LIBOR. The central bank plans to restrict the use of LIBOR-linked collateral and has put forward three possible approaches, one of which some market participants view as an effective ban on legacy LIBOR-linked collateral.

https://www.risk.net/derivatives/6801296/boe-is-going-to-curb-libor-collateral-but-how-much

The Bank of England (BoE) is planning to restrict the use of Libor-linked collateral in its sterling liquidity pools as a way to prod investors away from the fading rate. What is undecided is how trenchant the measure it finally takes will be. The central bank is seeking comment on three possible approaches to protecting its balance sheet from Libor’s all-but-certain demise after the end of 2021. The toughest of the three, which some view as an effective ban on legacy Libor collateral, would

South Holland bus operator orders 20 Ballard fuel cell buses

Ballard will supply 70 kW heavy-duty fuel cell modules for a fleet of 20 Solaris Urbino 12 hydrogen buses, to be used by Connexxion, the South Holland branch of the Transdev Netherlands group. Studies have linked particulate matter 2.5 air pollution with Covid-19 death rates, which could lead to the acceleration of demand for zero-emissions fuel cell buses, said Ballard's chief commercial operator, Rob Campbell.

https://www.h2-view.com/story/ballard-technology-to-power-20-hydrogen-buses-set-for-south-holland/

Ballard technology to power 20 hydrogen buses set for South Holland Ballard technology will power 20 new hydrogen buses ordered by public transport operate Connexxion for deployment in South Holland. A branch of the Transdev Netherlands group, Connexxion has ordered 20 Solaris Urbino 12 hydrogen buses from Solaris Bus & Coach in a bid to ensure cleaner air in the province. Ballard has received an order from Solaris for 20 of its new 70kW heavy-duty FCmove™-HD fuel cell modules to power the buses under the Joint Initiative for Hydrogen Vehicles Across Europe (JIVE 2) funding programme. Rob Campbell, Ballard Chief Commercial Operator, said, “With the deployment of these 20 buses planned for next year by Solaris, Ballard will be powering a total of 40 buses in The Netherlands. And, we will soon be powering Solaris buses in Germany and Italy, as well.”

Keh Chuan Seng acquires 32.05% stake in frozen food producer HB Global

Keh Chuan Seng acquires 32.05% stake in frozen food producer HB Global at an 84.6% discount to the market price.

https://www.theedgemarkets.com/article/new-substantial-shareholder-emerges-hb-global

KUALA LUMPUR (July 14): HB Global Ltd, a China-based frozen food maker, said Keh Chuan Seng has emerged as its largest shareholder in the company, after acquiring 150 million shares yesterday. The acquired shares represent a stake of 32.05% — less than 1% from the 33% level that would trigger a mandatory general offer (MGO). Based on Bloomberg data, the block trade was transacted at two sen per share, a discount of 84% to its closing price of 13 sen yesterday. The stake is thus valued at RM3 million. Keh’s background is not known at the moment. In October 2019, HB Global was uplifted from its classification as a PN17 company, as it no longer triggered any prescribed criteria under the PN17 listing criteria. However, a year prior to that, Bursa Securities had publicly reprimanded HB Global for breaching listing rules. In particular, the company was reprimanded for failing to ensure its report for its fourth quarter ended Dec 31, 2016 took into account adjustments announced on April 28, 2017.

Chinese hot pot chain Haidilao seeks $963m in IPO in Hong Kong

China's Haidilao International seeks to raise $963m through an initial public offering (IPO) of 424.5 million shares at $1.88 to $2.27 a share. Hillhouse Capital, Morgan Stanley, Greenwoods Asset Management, Snow Lake Capital and Ward Ferry will buy a combined $375m of shares. Haidilao is a hot pot restaurant chain with over 300 outlets worldwide. Hot pot has the largest share of Chinese food styles by 2017 revenue at 13.7%, followed by Sichuan with 12.4% and Cantonese at 8.2%, the company said. Haidilao will use 60% of the proceeds to expand, 20% on new technology and 15% on loan repayments.

https://www.chinamoneynetwork.com/2018/09/10/chinas-hotpot-chain-haidilao-seeks-963m-in-hong-kong-ipo

Haidilao International Holding Ltd., China’s biggest hot pot restaurant chain, is seeking to raise up to US$963 million in an initial public offering (IPO) in Hong Kong.

TalkTalk Government grants Ofcom two years to action Universal Broadband

Abstract: The UK Government has set a 2020 deadline for communications regulator Ofcom to fully implement its Universal Service Obligation (USO) high-speed broadband plan. In two years' time, anyone in the UK has the legal right to an affordable 10 Mbps broadband connection. The USO, which is expected to cost up to £1.1bn (£1.5bn) and will be funded by the industry and not the Government as previously proposed, was implemented under last year's Digital Economy Act. Digital Minister Margot James said the plan put high-speed broadband on a "similar footing as other essential services like water and phone lines".

https://www.silicon.co.uk/workspace/government-sets-2020-deadline-universal-broadband-230713?inf_by=5a2e95d4681db89b168b4737

The government has set 2020 as the deadline by which anyone will have the legal right to an affordable 10 Mbps broadband connection. The right is part of the Universal Service Obligation (USO), which is being implemented under last year’s Digital Economy Act. Ofcom now has up to two years to design the framework under which the scheme will operate. “Accessing the internet is a necessity not a luxury,” said digital minister Margot James. “We’re now putting high speed broadband on a similar footing as other essential services like water and phone lines.” Industry funding The USO is to be funded by industry, and not government as previously proposed, according to plans published on Wednesday. Ofcom, which is to establish and oversee an industry fund to support USO delivery, has estimated the plan could cost up to £1.1 billion. The fact that industry is to foot the bill means companies are likely to compensate by raising prices, meaning higher household bills. BT had previously offered to spend £600m on a voluntary scheme to extend broadband access, a move that would have eliminated the need for a legal requirement. But Sky Broadband and TalkTalk threatened a judicial review over competition concerns. They argued BT would seek to recoup its costs by raising wholesale broadband prices, meaning higher prices for all broadband customers. The government formally rejected BT’s offer in December. Today it said the current USO plan provides “certainty and legal enforceability”. “The government believes that only a regulatory USO offers sufficient certainty and the legal enforceability that is required to ensure high speed broadband access for the whole of the UK by 2020,” it said. The plan implements a “reasonable cost threshold” of £3,400 per premises, which applies to about 99.8 percent of locations. Satellite link The remaining 0.2 percent would be able to access the required speeds via satellite or would have the option of covering the excess themselves. A uniform pricing requirement means users connected under the USO should not pay more than those served commercially. The government said the 10 Mbps requirement would be kept under review and “increased over time”. “Ninety-five percent of the UK already has access to superfast broadband,” the government said. “The USO will provide a ‘digital safety net’ for those in the most remote and hardest to reach places.” Ofcom has estimated that 1.1 million premises currently do not have access to 10 Mbps broadband. Do you know all about broadband and the ultra-fast future? Try our quiz!

South Sudan plans renewable energy auctions

The South Sudan Electricity Corporation (SSEC) and the country's government have issued a call for experienced consultants to help define a tender mechanism for procuring clean energy generation capacity. The government has asked for $990,000 from the Sustainable Energy Fund for Africa to finance its renewables programme. SSEC has an installed capacity of just 30 MW, most of which lies dormant, prompting an energy crisis that's been deepened by high power prices.

https://www.pv-magazine.com/2019/09/17/south-sudan-to-embrace-renewables/

The government of South Sudan and the South Sudan Electricity Corporation (SSEC) utility have launched a call for consultants to help define the nation’s renewable energy development program. The utility said consultants must have relevant professional experience, especially in development of private sector, grid-connected solar projects and associated battery storage. The winning bidder will be tasked with defining the tender mechanism for the procurement of clean energy generation capacity. “Eligibility criteria, establishment of the short-list and the selection procedure shall be in accordance with the African Development Bank’s procurement policy framework for bank group funded operations (October 2015),” stated the SSEC in the consultancy tender document. The deadline for expressions is next Tuesday. Diesel dominates The Sustainable Energy Fund for Africa, a multi-donor trust fund administered by the African Development Bank, has been asked by the government of South Sudan to provide $990,000 for the renewable energy program. Popular content The eight-year-old nation is facing an energy crisis with record low levels of access to electricity and high power prices. The SSEC has installed power generation capacity of only 30 MW, most of which is not operational, with most electricity produced by diesel generators. A report by the United States Institute of Peace last year stated solar energy could help decouple economic growth in the country from the geopolitics of oil and gas. The report’s authors said PV has the best potential for immediate improvement due to its relative longevity, attractive prices, off-grid possibilities, scalability and ease of installation and the country’s high solar irradiation. U.S. start-up Energy Peace Partners is implementing a program to help humanitarian missions in South Sudan transition from diesel dependence to solar. The Peace Renewable Energy Credit scheme is intended to help free humanitarian and peace operations from local fuel supply chains which are often tied up in the ongoing conflict.

Investors not fully pricing in Libya unrest risk to oil supplies

Investors have not priced in the risk of oil supply problems caused by fighting in Libya, according to analysts. Markets have instead concentrated too much on the disruptive possibilities of the US-China trade war and problems in Venezuela and the Middle East. The situation in Libya is said to have worsened recently after the Libyan National Army was ordered to march on the capital. The country’s National Oil Corporation has warned that hostilities are hampering its operations with threats to key infrastructure and security. It has already called for an immediate ceasefire.

https://oilprice.com/Latest-Energy-News/World-News/Libyan-Oilfield-Fire-Adds-To-Oil-Outages-Losses-in-Iran-Venezuela.html

The Sarir oilfield in Libya’s Sirte basin has seen its oil production drop by 30,000 bpd since June 9 when a fire broke out in a power generator due to high temperature, Libya’s National Oil Corporation (NOC) said on Tuesday. The Sarir field, operated by NOC’s subsidiary Arabian Gulf Oil Company (AGOCO), is Libya’s largest oilfield with proven reserves of 4.8 billion barrels, according to the national oil company. Current oil production at the Sarir oil field is around 155,000 bpd. The fire started at the power station at the field and cut off electricity to parts of it, NOC said, adding that “An internal investigation is underway to determine the cause of the temperature rise and an estimated restart date post repair works.” Yet, some operations at the field that had been suspended since May due to a technical issue have recently restarted, NOC said. The technical difficulties at the field highlight the fragile state of the Libyan oil industry now that fighting between rival armies continues in and near the capital, Tripoli. While the oil market is fixated on the U.S.-China trade war for signs of demand, and on Iran, Venezuela, and the Middle East for signs of more supply disruptions, investors have not fully priced in the increased risk that Libya’s fighting could result in a serious oil supply outage, analysts say. Related: OPEC’s Struggle To Avoid $40 Oil The security situation in Libya has materially worsened this spring after eastern strongman General Khalifa Haftar ordered in early April his Libyan National Army (LNA) to march on the capital Tripoli. The self-styled army has been clashing with troops of the UN-backed government in a renewed confrontation that could escalate and threaten to disrupt, once again, Libya’s oil production and exports. “Protracted hostilities continue to hamper NOC operations and our ability to serve the Libyan people. Key infrastructure is being damaged and security eroded - allowing criminal elements to prosper,” NOC’s chairman Sanalla said in a statement last month. “NOC will take all necessary measures to investigate and prosecute those committing crimes that undermine the oil sector and our ability to maintain operations. An immediate ceasefire is needed. The alternative is further escalation and destruction,” Sanalla said in May. ADVERTISEMENT By Tsvetana Paraskova for Oilprice.com More Top Reads From Oilprice.com:

Netherlands seeks to close two oldest coal-fired plants by 2024

Eric Wiebes, the Netherlands’ Minister of Economic Affairs and Climate, has said all the country's coal-fired power plants will be shuttered by 2030, while the two oldest will be closed by 2024. The move is part of a drive to almost halve the country's CO2 emissions by 2030, and follows similar coal phase-out plans across Europe. German utility RWE has said it is "dumbfounded" by decision and is considering legal action, while environmental groups have said RWE and other large utilities that continued to build coal plants were out of step with the visible move toward renewables.

https://cleantechnica.com/2018/05/22/the-netherlands-announces-ban-on-coal-plans-close-of-2-power-plants-by-2024/

The Netherlands has announced that it will ban the use of coal for electricity generation from 2030 onwards, and that the two oldest plants must close by the end of 2024, in a move that Germany utility company RWE has deemed “ill judged.” The power industry in Europe is undergoing a seismic shift as renewable energy sources such as onshore and offshore wind, and solar PV, continue to increase their share of the market. And, when you add more of something, more often than not something else will suffer, and in the case of Europe’s power sector, that ‘something’ is coal. The most high-profile hit to coal came when the UK made the move to close all coal plants by 2025. Of course, coal has been losing market share steadily over the last few years due to renewable energy capacity increases, natural gas, and the success of neighboring interlinks — and just last month the UK went 76 hours without using or needing any coal at all. Germany, too, this year announced it hopes to come up with a plan to phase out coal by early 2019, and Finland announced in late 2016 it intended to ban all coal by 2030. Add in the fact that, according to a Carbon Tracker Initiative report published last December, 54% of all European coal plants are losing money, and if left unattended that figure would rise to 97% by 2030. So, it should come as no real surprise, then, that the Netherlands’ Minister of Economic Affairs and Climate, Eric Wiebes, announced last week that his country was moving to ban coal in all electricity generation from 2030 onwards. More specifically, all coal-fired power plants will be closed by 2030 at the latest, and the two oldest plants — the Hemweg and Amer coal-fired power plants — must shutter their doors by the end of 2024. “The Netherlands phaseout decision is particularly striking because three of these power plants are brand new,” said Gerard Wynn, an energy finance consultant with the Institute for Energy Economics and Financial Analysis (IEEFA), speaking via email. “It is the ultimate warning for investors in new coal and coal power life extension in Europe. It adds to coal phaseout plans in the UK, Italy, France, Finland and Portugal, and other coal power headwinds and especially rising carbon prices and growth in renewables.” The ban on coal is part of the Netherlands’ efforts to reduce its CO2 emissions by 49% by 2030. The Netherlands was one of seven European Union Member States in April to call on the EU and other Member States to align their long-term climate ambitions with the objectives laid down in the Paris Climate Agreement. Further, just last week, the EU formally adopted greenhouse gas emission reduction targets for 2021 to 2030 which, though they vary from country to country, will deliver a 30% overall reduction in EU emissions. The Netherlands Government has advised the remaining coal-fired power plants that, in the intervening period, they should make their plants suitable for electricity production by other means or other fuels — such as sustainable biomass. The move has come as a surprise to at least one company, however, judging by the reaction from Germany utility RWE, which has numerous power plants in the Netherlands including two coal-fired power plants — the 600 megawatt (MW) Amber Power Plant in Geertruidenberg, and the 1,560 MW Eemshaven Power Plant. Specifically, the Amer Power Plant was one of two coal-fired power plants which the Netherlands Government ordered to be closed by the end of 2024. In a press release published in response to the news, the company said “RWE is confounded by the draft law that was announced today by the minister of Economic Affairs and Climate.” RWE also said that, while it “is committed to the CO 2 reduction target of the Dutch Government … it believes that energy politics should be a balance of security of supply, affordable energy prices, sustainability and providing a stable and reliable investment climate.” RWE went on to explain the merits of both their power plants and added that it now “foresees significant impact on its business by today’s announcement. “Currently no compensation is planned for the ban on operating the plants according to the granted permits. This is despite the fact that RWE built the Eemshaven power plant at the specific request of the Dutch government, investing €3.2 billion going into operation in 2015. RWE will now analyse the proposed law carefully. If the law is imposed as proposed, the company will assess the possibility of taking legal action.” In a way, RWE seems to make a strong argument in its favor. But an October report from the IEEFA highlights the long trend that RWE could have acted upon. Specifically, IEEFA — in its report, Global Electricity Utilities in Transition: Leaders and Laggards: 11 Case Studies — explains that “RWE has shut down or mothballed almost 12 [gigawatts (GW)] of capacity since 2012” which has resulted in significant impairments on its books. In 2016 alone, “RWE total impairments came to €4.3bn, of which €3.7bn related to the company’s German power plant portfolio” and “Value write-downs have occurred on new capacity in the Netherlands.” Further, and most tellingly, the IEEFA report notes that it is only RWE’s stake in its renewable energy spin-off, Innogy, that is keeping the company afloat. In other words, RWE has long seen the tide rising but is now surprised that it is drowning. The implementation of the European Union Emissions Trading Scheme further sealed the deal for coal-plant owners across Europe, but companies did not react properly to compensate for the pending future. “That RWE management and the board were still been building new coal plants a decade after the EU ETS was put in place can only be explained as a reflection that RWE did not accept climate science and/or they failed to anticipate the Paris Climate Agreement would emerge to bring together a global consensus to deal with this critical issue,” explained Tim Buckley, Director of Energy Finance Studies, IEEFA, to me via email. “It was a failure of managment by the owners of those three power plants, RWE, E.ON and Engie, to proceed with construction at the time of the global financial crisis,” added Gerard Wynn. “There were warning signs then for weaker power demand and prices, from the recession as well as the rollout of renewables in neighbouring Germany. Even before the Netherlands coal phaseout decision they had written off half or more of the value of these brand new assets. RWE must take responsibility for that mistake.” 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 ...

Tesla Model S turns 8 years old — changing the entire industry over that time

Tesla delivered the first Model S sedans eight years ago this week. It was a big deal for Tesla since it was its first vehicle designed and built from the ground up. It served as a proof-of-concept that electric vehicles are not just golf carts and can have segment-leading performance.

https://electrek.co/2020/06/28/tesla-model-s-turns-8-years-old-changing-entire-industry/

Tesla delivered the first Model S sedans eight years ago this week, and today, we look back at how it impacted the auto industry over that time. Back in June 2012, Tesla started production of Model S and delivered the first few Signature Model S vehicles to customers. On June 22, Tesla held an event at its Fremont factory. It was a big deal for Tesla since it was its first vehicle designed and built from the ground up, and the first vehicle produced at its recently acquired Fremont factory. Steve Jurvetson, an early Tesla investor and board member, took delivery of the very first Model S since he was the first to place a reservation years prior. Here he is at the delivery event with Tesla CTO and cofounder JB Straubel: While Model S wasn’t officially Tesla’s first vehicle, it also kind of was in many ways. The Roadster was launched in 2008, but it was built on a Lotus platform used to build gasoline vehicles and was hacked together by Tesla to make it into an electric sports car. It served as a proof-of-concept that electric vehicles are not just golf carts and can have segment-leading performance. But Model S was Tesla’s first vehicle built from the ground up. It was built to be the best vehicle possible that just happens to be electric. It has no compromise over fossil-fuel-powered vehicles in the same segment and that was the true innovation of the Model S. It wasn’t the first electric vehicle built from the ground to be electric on the market. Nissan had the Leaf in 2012, but you had to accept some compromise to drive a Leaf. Back then, it had a limited range of fewer than 100 miles on a single charge, and while it’s debatable, I’d say that the design was also a major compromise. On the other hand, the Model S had a range of over 250 miles in 2012. It wasn’t cheap, but it was competitive with other premium sedans on the market in terms of cost and crushed them in terms of performance. With Model S, Tesla proved that not only can you build a no-compromise electric vehicle from the ground, but if you want to build the best vehicle in a segment, you have to make it electric. After a few years, Model S became the best-selling premium sedan in many markets, and it still is in a few markets. By being the first all-electric vehicle to become a best-selling vehicle in its segment, it pushed the entire industry to take a second look at their EV plans and take the transition to electric powertrain more seriously. It helped launch the entire EV revolution, and eight years later, the Model S program is still leading the way, most recently by becoming the first EV with over 400 miles of range. Electrek’s Take I still own one of the few Model S vehicles built in 2012: a Model S P85 Signature. To this day, this eight-year-old car is still better than many new vehicles built today. That’s impressive. Time moves slowly in the auto industry, but Tesla is making it go faster. Due to its lack of compromise, I would argue that Model S was the first modern viable all-electric vehicle. I won’t argue that it was the most important electric vehicle to launch the revolution, since you could argue that without the Roadster, there would be no Model S and so on, but I think it’s worth reflecting on Model S eight years later. What do you think? Let us know in the comment section below. Celebrating the first Tesla Model S Electrek's retrospective: "Tesla Model S turns 8 years old — changing the entire industry over that time" https://t.co/jNZPNM72ls and my little video of the delivery of VIN #1 ► https://t.co/kfRdhEalk5 I still get goosebumps watching it. pic.twitter.com/O7VfqwgbLk — Steve Jurvetson (@FutureJurvetson) June 29, 2020

Zyfra tests 5G use for autonomous mining trucks

Zyfra is trialling 5G technology with its autonomous robotic dumping trucks at the SUEK open coal pit in Khakassia, Russia. Zyfra’s Intelligent Mine system uses robotics, AI and IoT technology. A 1.5 km route inside Huawei’s 5G network area has been devised to test the technology. The trial will be used to reveal any advantages that 5G technology brings over the use of industrial Wi-Fi/MESH networks, which Zyfra has used for a decade.

https://www.mining-technology.com/news/zyfra-trials-5g-on-autonomous-mining-dump-trucks-in-russia/

Russia starts using 5G network on autonomous mining dump trucks. Credit: zyfra. Finnish-Russian digitalisation firm Zyfra is testing 5G network on 130t BELAZ-7513R autonomous robotic mining dump trucks. The project is being trialled at a SUEK coal open-pit mine in Khakassia, Russia. A 1.5km robots’ route, which is part of the Huawei wireless 5G network, has been deployed to perform tests at the Chernogorsky open-pit mine in Khakassia. The mine is located in the western part of the Chernogorsky hard coal deposit in the Ust-Abakan region of the Republic of Khakassia. According to Zyfra, the dump trucks are part of its Intelligent Mine system aimed to offer unmanned mining technologies. These secure and efficient technologies are based on robotics, industrial AI and IoT. Zyfra managing director Pavel Rastopshin said: “Robotic dump trucks allow for a significant increase in freight transport production rates (up to 30%) thanks to a reduction in non-technological downtimes related to human factors (shift changes, lunchtime, etc.), an increase in the average speed of robotic dump trucks during travel and thus an increase in the number of movements per shift (by approximately 20%). “The 5G network has demonstrated its reliability in robotic equipment application tasks at open-pit mining sites. But overall, other data transfer standards can also be used to scale and launch robotic equipment.” The project will reveal and document the technical advantages of the 5G communication network over an ‘industrial Wi-Fi / MESH network’. SUEK Information Technology deputy director Dmitry Sizemov said: “Having used MESH-based Industrial Internet technologies at our enterprises for ten years, we are testing an alternative for the first time, and it is proving its technological worth. “The implementation of 5G networks at open-pit mining enterprises opens up huge opportunities not only for robotised facilities, but also for advanced solutions for industrial safety, dispatch and monitoring, which require higher rates and greater reliability of data transfer, as well as flexibility and stationary infrastructure independence. “The possibility of running robotic automation at other enterprises is currently being discussed at SUEK.” In June 2019, Zyfra and First Ore-Mining signed a three-year memorandum of understanding to deploy AI solutions for mining and processing operations at the Pavlovskoe deposit in Russia.

Litigation financing firm launches solution for insolvency claims

LionFish Litigation Finance has today launched ISLERO to provide financing solutions for insolvency claims. 

https://www.research-tree.com/newsfeed/Article/launch-of-financing-solution-for-insolvency-claims-1073655

14 July 2020 RBG Holdings plc (the "Group") Launch of financing solutions for insolvency claims RBG Holdings plc, the professional services group, which owns LionFish Litigation Finance (UK) Limited ("LionFish"), has today launched ISLERO - a new generation of financing solutions for insolvency claims. Available through the Group's litigation finance arm LionFish, ISLERO is designed to answer the increasing calls of insolvency practitioners and solicitors for cheaper, faster and more flexible financing solutions than are currently available. Over the last decade, the market for financing of insolvency claims has become well-established. However, in the UK, the number of providers is limited, with one player having a significant share of the market. This structure has limited the evolution of financing products, especially in terms of pricing. Using the legal expertise and financial support of the Group, ISLERO will offer insolvency practitioners cheaper and more flexible pricing structures, including some interest rate-based alternatives. The launch of ISLERO is another stage in the development of the Group's litigation financing subsidiary. As outlined at the time of the Group's IPO, the Board believes litigation finance represents an incremental opportunity to monetise the Group's case flow and to diversify its income streams. In May 2020, the Group recruited additional resource into this division as part of its growth strategy, including a dedicated Managing Director, Tets Ishikawa. The Group has created a separate brand identity for the division, LionFish. Positioned as a provider of innovative, practical financing solutions, LionFish gives users of litigation funding an alternative to the current providers. LionFish has a growing pipeline of viable opportunities. Since its launch in May the Board has already approved four commercial litigation financing transactions, with two executed so far. Commenting on the launch of ISLERO, Nicola Foulston, Chief Executive, RBG Holdings plc, said: "There is a growing demand for an alternative provider of financing for insolvency claims, which sadly is likely to accelerate in light of the current economic conditions. With one player largely monopolising the market, a new competitor is needed to provide insolvency practitioners with faster and more flexible financing solutions which are more economically priced to help maximise recoveries for their estates. We think ISLERO will quickly become a premier player in the financing of insolvency claims, as well as providing support to the continuing growth of our Litigation Finance business." Enquiries: RBG Holdings plc Nicola Foulston, Chief Executive Via Newgate Communications N+1 Singer (Nomad & Broker) Shaun Dobson / Alex Bond (Corporate Finance) Tom Salvesen (Corporate Broking) Tel: +44 (0)20 7496 3000 Newgate Communications (for media enquiries) Robin Tozer/Tom Carnegie Tel: +44 (0)7540 106366; [email protected] About RBG Holdings plc RBG Holdings plc is a professional services group, which includes one of the UK's pioneering law firms, Rosenblatt Limited, which is a leader in dispute resolution. Rosenblatt Limited provides a range of legal services to its diversified client base, which includes companies, banks, entrepreneurs and individuals. Rosenblatt Limited's practice areas include dispute resolution, financial crime, corporate, banking and finance, insolvency and financial restructuring, construction and projects, employment, financial services, IP/technology/media, real estate, regulatory and tax resolution. The Group also owns Convex Capital Limited and LionFish Litigation Finance (UK) Ltd. Lionfish provides a fast, effective alternative to complex high-value legal case financing for individuals, law firms, insolvency practitioners and corporates across a wide variety of sectors. Convex Capital is, a specialist sell-side corporate finance boutique, based in Manchester, UK. Convex is entirely focussed on helping companies, particularly owner-managed and entrepreneurial businesses, realise their value through sales to large corporates. Convex identifies and proactively targets firms that it believes represent attractive acquisition opportunities.

BHP Billiton grows iron ore output by 3% to 238m mt in 2017-2018

Anglo-Australian mining company BHP Billiton has reported a 3% rise in iron ore production, increasing output for copper but a fall for petroleum. The firm said its iron ore mining produced 238 million tonnes in the year to June, up from 231 million last year. Copper output rose 32% thanks to increased production in its Chilean mine but petroleum production fell 8% because of natural field decline. Steelmaking coal production rose 7% while thermal coal production was flat. The company said it was trying to remove bottlenecks in rail and port networks but that there were problems with unloading equipment.

https://www.marketwatch.com/story/bhp-billiton-iron-ore-output-rises-copper-jumps-2018-07-18

SYDNEY--BHP Billiton Ltd. (BHP.AU) said it produced 3% more iron ore last fiscal year, as its Australian mining operations churned out the commodity at record rates, while the company's output of copper jumped and petroleum fell. The world's biggest miner by market value on Wednesday reported iron-ore production totaling 238 million metric tons in the year through June. That was up from 231 million tons in the 12 months immediately prior, and at the top end of its 236-238 million-ton forecast range. The company said its Australian operations hit a record annualized output rate during its fiscal fourth-quarter of 289 million tons, including the share of joint venture partners. BHP, which runs the world's third-biggest iron ore business by volume, has been lifting exports from Australia's remote Pilbara region aided by a productivity drive that's included increasing equipment utilization and automating trucks and drills. The miner has also been working to remove bottlenecks in its rail and port network and increase capacity at its Jimblebar mine. Still, problems with the reliability of machinery that unload iron-ore cargoes from its trains led BHP in April to trim its full-year target from 239 million-243 million tons previously. "Good prices and our culture of continuous improvement give us positive momentum into the 2019 financial year," said Chief Executive Andrew Mackenzie. BHP said group production rose by 8% during the year on a copper-equivalent basis. BHP said output of copper during the 12-month period surged 32% on the year prior because of rising production at the Escondida mine it manages in Chile. Output from Escondida, the world's biggest copper mine, has risen following an expansion of its processing facilities. Year-earlier production there was also disrupted by a worker strike. The company's petroleum production slumped by 8% due to natural field decline although, at 192 million barrels of oil equivalent, volumes topped its 180 million-190 million-barrel forecast range. BHP meantime reported a 7% rise in steelmaking coal output, and flat production of thermal coal, used to generate electricity. It also said it would likely record a charge of US$440 million in its financial results next month, tied to the 2015 Samarco dam failure in Brazil. Write to Rhiannon Hoyle at [email protected]

Scientists create living wallpaper to convert sunlight into power  

An energy-harvesting wallpaper that acts as both a solar panel and a battery has been developed by scientists at Imperial College London. The paper, produced on a regular inkjet printer, comprises carbon nanotubes and an ink made of photosynthetic cyanobacteria. A small section of it can be used to power an LED light bulb. The so-called biosolar panel could lead to the development of disposable power supplies and medical sensors.

https://interestingengineering.com/researchers-produce-an-energy-harvesting-wallpaper-that-can-photosynthesize

Scientists have developed energy harvesting wallpaper by printing circuitry and cyanobacteria onto paper. The incredible discovery was completed by researchers at the Imperial College London. The wallpaper acts as both a battery and solar panel and even just a small section of the printed paper could be enough to power an LED light bulb. The wallpaper is created using an off the shelf inkjet printer. Cyanobacteria convert energy using photosynthesis First carbon nanotubes are printed onto paper. Then an ink made from cyanobacteria is inkjet printed onto the carbon. The still alive bacteria perform photosynthesis which allows the wallpaper to harvest electrical energy. Cyanobacteria are a type of bacteria that get their energy via photosynthesis. Photosynthesis as we know is the process used by plants to convert light into chemical energy in a way that is stored for future use.

Pinterest shares close up 36% on user growth and advertising in Q2

Pinterest reported its global monthly active users grew 39% year-over-year to 416 million. The company reported earnings before the bell on Friday. It saw total revenue of $272 million, an increase of 4% year on year.Pinterest shares closed up 36.13% on Friday after the company reported second-quarter earnings.

https://www.cnbc.com/amp/2020/07/31/pinterest-stock-up-38percent-on-growth-with-users-advertising-in-the-q2.html

Pinterest shares closed up 36.13% on Friday after the company reported second-quarter earnings which reflected how people turned to the service for at-home cooking, remote work and activities during the stay-at-home orders. The earnings were published before the bell on Friday morning. The company saw total revenue of $272 million, an increase of 4% year-over-year, though it said advertiser demand continued to be affected by the pandemic. Following a sharp drop-off in growth in mid-March as advertisers responded to the pandemic, the company said in a shareholder letter that revenue growth stabilized in April and continued to improve as shelter-in-place restrictions were eased in some states. Pinterest reported its global monthly active users grew 39% year-over-year to 416 million. "People needed Pinterest in Q2," the company said in the letter. "They needed a service that helped them adjust to radically changed circumstances — one that inspired them to cook at home, build vegetable gardens, plan activities for their kids and set up remote offices and home gyms, to name just a few typical COVID-19-related use cases we saw during the quarter." The company said users who started using Pinterest during Covid-19 continued to have high engagement even after shelter-in-place restrictions eased — it said while overall engagement peaked in mid-April and early May and subsided as stricter lockdowns ended, engagements remain stable "well above pre-Covid-19 levels." The company said that its total advertiser growth accelerated year-over-year during the second quarter and that spend from small and medium-sized businesses made up nearly half its total revenue. Aaron Goldman, chief marketing officer at 4C (which recently announced an acquisition by advertising software company Mediaocean), said advertisers on the company's platform increased budgets on Pinterest by 20% year-over-year in the quarter. He said that's in part because Pinterest is a place with strong commercial intent and where advertisers can get traction without having ads displayed near controversial content.

Reserve Bank of Australia makes surprise interest rate cut

The Reserve Bank of Australia has made a surprising decision to cut interest rates to just 1.75% just hours prior to announcing the Federal Budget; the Australian Dollar plummeted 1.5 cents in just 20 minutes following the announcement, though, homeowners and the property industry will welcome the decision. National Australia Bank and Bank of Queensland have already said they will pass on the full value of the 0.25% point reduction to customers.

http://www.dailymail.co.uk/news/article-3570580/Reserve-Bank-cuts-rate-record-low-1-75-cent-just-hours-federal-Budget-handed-down.html

Australia's interest rates have been cut to a record low of just 1.75 per cent just hours ahead of the Federal Budget. The Reserve Bank of Australia announced the surprise decision to cut the official interest rate by 25 basis points to 1.75 percent, just hours before the federal budget is handed down. Immediately after the announcement the Australian Dollar plummeted 1.5 cents in just 20 minutes from 77.1 cents to 75.6 cents at 2.45pm AEST. Homeowners and the property industry will welcome the decision, which follows 12 months of rates remaining unchanged on the already low two per cent. Scroll down for video Australia's interest rates have been cut to a record low of just 1.75 per cent just hours ahead of the Federal Budget Immediately after the announcement the Australian Dollar plummeted 1.5 cents in just 20 minutes from 77.1 cents to 75.6 cents at 2.45pm AEST HOW MUCH YOU COULD SAVE Assuming loan 25-year standard variable rate at an average new interest rate of 5.4 per cent. Loan size - new monthly repayment - reduction * $100,000 - $608.13 - $14.95 * $150,000 - $912.19 - $22.42 * $200,000 - $1216.26 - $29.90 * $250,000 - $1520.32 - $37.37 * $300,000 - $1824.39 - $44.84 * $350,000 - $2128.45 - $52.32 * $400,000 - $2432.52 - $59.79 * $450,000 - $2736.58 - $67.26 * $500,000 - $3040.65 - $74.74 (Source: CommSec) Repayments on a $300,000 mortgage will drop by $45 a month on average if retail banks fully pass on Tuesday's 25-basis-point cut in the cash rate by the Reserve Bank. The RBA said the decision to cut rates is because of a surprising fall in the inflation rate. In a statement it cited commodity prices steadying after significant declines in the past two years. But it said Australia is continuing to rebalance following the mining investment boom and the GDP increased in 2015, particularly in the second half of the year. It expects growth to continue in 2016. Prime Minister Malcolm Turnbull has cited the RBA's decision to cut the official interest rate as support for his government's plan to transition the economy from the mining boom. Prime Minister Malcolm Turnbull has cited the Reserve Bank's decision to cut the official interest rate as support for his government's plan to transition the economy from the mining boom Mr Turnbull read from Governor Glenn Stevens' reasons for an historic 25-basis-point reduction during question time, just hours before the release of the federal budget. 'The governor's remarks underline the risk posed by the opposition to that successful transition (from the mining-construction boom),' he said on Tuesday. The NAB announced it would pass on the 0.25 rate cut to its home loan customers. A statement from the bank says its variable rate for home loans will reduce from 5.60 per cent to 5.35 per cent. The new rates will be effective May 16. NAB executive Gavin Slater said the bank considered competition, regulatory capital requirements and funding costs. 'Today's decision balances the needs of our home loan customers with our shareholders,' Mr Slater said. ANZ has predicted another cut will be made by the RBA but have not shown any indication they will follow NAB's lead. 'This is unlikely to be a 'one-and-done' cut,' spokeswoman Felicity Emmett told ABC. 'The RBA nearly always follows up with another cut and we expect this time to be no different.' She said the rate cuts will prevent further increase in the Australian dollar and that it is likely to have peaked.

Reserve Bank of Australia makes surprise interest rate cut

The Reserve Bank of Australia has made a surprising decision to cut interest rates to just 1.75% just hours prior to announcing the Federal Budget; the Australian Dollar plummeted 1.5 cents in just 20 minutes following the announcement, though, homeowners and the property industry will welcome the decision. National Australia Bank and Bank of Queensland have already said they will pass on the full value of the 0.25% point reduction to customers.

http://www.smh.com.au/business/banking-and-finance/national-australia-bank-passes-on-rate-cut-in-full-20160503-gol05v.html

ANZ Bank is the only big four bank that will not pass on the full value of the Reserve Bank's 0.25 percentage point reduction in official interest rates to home loan customers, blaming the decision on higher funding costs. Instead, ANZ Bank will reduce its home loan rates by 0.19 of a percentage point, with its benchmark rate for owner-occupiers falling to 5.37 per cent. ANZ's move came after National Australia Bank, Westpac, Commonwealth Bank and Bank of Queensland said they would pass on the full RBA cut to their home loan customers. ANZ, which also posted a 24 per cent slump in profit and cut its dividend on Tuesday, said its decision on interest rates struck the right balance between the interests of customers and shareholders.

Wright Electric developing 1.5 MW motor for 186-seater

Wright Electric has embarked on an electric propulsion development programme for its 186-seat electric aircraft called Wright 1. A 1.5 MW electric motor and 3 kV inverter will need to be developed, with ground tests expected in 2021 and flight tests in 2023. Wright will also work on aerodynamic improvements for its fuselage. Wright Electric partner Easyjet welcomed the development. The airline has reduced carbon emissions per km per passenger by more than a third since 2000 and is targeting a 38% reduction by 2022.

https://www.greencarcongress.com/2020/01/20200131-wright.html

Wright Electric announced the start of its electric propulsion development program for its flagship 186-seat electric aircraft, named Wright 1. In order to achieve the commercial flight capability of the Wright 1, Wright is engineering electrical systems at the megawatt scale by building a 1.5 MW electric motor and inverter at 3 kilovolts. Wright intends to conduct ground tests of its motor in 2021 and flight tests in 2023. The company expects entry into service of its flagship Wright 1 in 2030. The motor and power system development program is the next step towards building its narrowbody-class aircraft. Wright will be simultaneously conducting tests on its fuselage to improve aerodynamics. Numerous government agencies in the United States are funding research into electric aviation including NASA and Air Force Research Laboratory. On 30 January, Wright demonstrated a preview of its electric motor at its press event in New York, NY. Wright also announced that it is moving its headquarters to Albany, NY to take advantage of the engineering talent there. easyJet, Europe’s leading airline and partner to Wright Electric, welcomed this announcement as easyJet has a long tradition of efficient flying. Through their dedication to choosing efficient aircraft and their approach to flying them, they’ve already become more efficient than many airlines. Since 2000, easyJet has reduced the carbon emissions for each kilometer flown by a passenger by over one-third (33.67%) and has a target to reach a 38% reduction by 2022. easyJet also became the first major airline to offset the fuel from all of its flights. Their priority is to continue reducing their carbon footprint in the short-term while they support the development of innovative technology to accomplish their long-term goal of carbon-free aviation, which Wright is making possible.

US has 4,984 DC fast charging stations

The US has 2,376 combined charging system (CCS) and 2,608 charge de move (CHAdeMO) DC fast-charging stations, according to data from the US Department of Energy. It also revealed there are 5,106 CCs outlets, compared to 3,993 CHAdeMO stations.

https://www.energy.gov/eere/vehicles/articles/fotw-1139-june-22-2020-electric-vehicle-fast-charging-stations-and-outlets

Note: For more information about electric vehicle connector types, see the Department of Energy’s Alternative Fuels Data Center website. Source: U.S. Department of Energy, Alternative Fuel Data Center, Electric Vehicle Charging Station Locations, May 29, 2020. Fact #1139 Dataset Return to Fact of the Week

Israeli startup’s breath test device to sniff out COVID-19 set to start trials

Scentech, an Israeli startup is hoping to help healthcare providers detect the deadly coronavirus through a simple and quick breath test. . The breath technology will help identify patients even before symptoms are present, thus helping to halt the spread of virus. They are searching for the biomarkers in the thousands of different gases present in each exhale of breath. The identification is through a mixture of hardware and software that enables the real-time identification of volatile chemical compounds (up to 8000) in one breath.

https://www.timesofisrael.com/israeli-startup-hopes-to-sniff-out-deadly-coronavirus-via-breath-tests/

An Israeli startup is hoping to help healthcare providers detect the deadly coronavirus through a simple and quick breath test, similar to breathalyzers used on suspected drunk drivers. The firm, Scentech Medical, will be starting a trial of its “breath technology” — a mix of software and hardware — in the coming weeks together with the Meir Medical Center in Kfar Saba. The Tel Aviv-based company was already developing the technology to try to identify cancer and infectious diseases via analysis of breath — searching for their biomarkers in the thousands of different gases present in each exhalation, explained Dr. Udi Cantor, a general and urological surgeon who is the medical director of the startup team. The firm was undertaking proof of concept studies in Israel and the US when the coronavirus pandemic broke out, he said. That was when the company decided to try and see if the same method could be also used to sniff out the virus, whose “breath signature” or “biomarker” is yet unknown, he said. Sign up for the Tech Israel Daily and never miss Israel's top tech stories Newsletter email address Subscribe By signing up, you agree to the terms Although Cantor preferred to keep vague details of how the technology works, he explained that it is based on a mix of hardware and software that enables the real-time identification of volatile chemical compounds in breath. The process uses gas chromatography, a lab technique to separate and analyze compounds in gases; mass spectrometry, a technique used to determine the elemental signatures of particles and molecules; and a ReCIVA breath collecting device. These techniques can analyze the some-8,000 volatile organic compounds present within each breath, which play an active part in eliminating body waste, in a similar way to urine, sweat or stools, Cantor said. Advertisement “Anything that is broken down by our bodies — part of it is expressed in the breath,” he said. Many of these gases have a known signature, he said, but there are still many of them that are unknown. The idea is to use an analytical elimination process to separate the known from the unknown compounds and then narrow the process down to find the elusive coronavirus biomarker. The study with the Meir Medical Center will gather breath samples from 50-60 patients of different ages and medical conditions who are ill with the virus and compare them with those of healthy people, then try to pinpoint those compounds that are consistently present in the sick patients, and thus identify the “genetic fingerprint” of the coronavirus. The breath technology will help identify patients even before symptoms are present, thus helping to halt the spread of the virus, the company hopes. In a second stage, the study will be enlarged to a wider sample — 100-200 ill and healthy soldiers in the Israeli army — to validate the results attained in Meir, and to test whether the technology is indeed able to identify patients who are ill with an accuracy rate of at least 85 percent, Cantor said. The study on the coronavirus patients will start in a few weeks, a Meir Hospital spokeswoman confirmed by phone. Sentech Medical is owned by parent company Scentech, a microelectricalmechanical systems technology firm that identifies chemical compounds by measuring the mobility of ions in magnetic fields, and other investors, the company said.

Danish EV drivers pay the most for home charging at $610 annually

Danish drivers pay the most for at-home EV charging, at an average cost of £486.59 ($610) per year, according to Uswitch data. Germany, Belgium and Italy were the next most expensive countries, while the UK ranked 10th at £309.65. Drivers should review their energy tariffs to ensure they are not paying too much, said Sarah Broomfield from Uswitch.

https://www.fleetnews.co.uk/news/latest-fleet-news/electric-fleet-news/2020/07/14/ev-home-charging-costs-310-per-year-on-average

The average electric vehicle (EV) driver spends £310 per year on electricity to charge it at home, according to a new study by Uswitch. The energy comparison service calculated the cost based on a typical EV covering 10,000 miles per year at the UK’s average electricity price per kWh. It also calculated the cost of charging an EV in different countries around the world, based on the average price and mileage in those territories. The UK ranked as the 10th most expensive out of 50 countries in the study, with the most expensive country to charge an electric vehicle revealed as Denmark, followed by Germany and Belgium. Average annual EV charging cost: Country Annual Charging Cost Per Person Denmark £486.59 Germany £412.87 Belgium £398.12 Italy £383.37 Ireland £383.37 Portugal £353.88 Spain £339.14 Austria £324.39 Japan £324.39 United Kingdom £309.65 Sarah Broomfield, energy expert at Uswitch, said: “The use of electric vehicles has clear environmental benefits but for many consumers, the choice to move to EVs can be hindered by perceptions about how much it will cost to charge. “This research shows that, while the costs are not insignificant, the UK is in a strong position compared to countries like Denmark where the price of electricity makes the cost of a charge so much higher. “Of course, as well as the cost savings of rapid charging points, we also encourage consumers to regularly review their own energy tariffs to ensure they’re getting the best deal possible.” The current advisory fuel rate (AFR) for an alternative fuel vehicle is 4ppm, meaning drivers can claim £400 for every 10,000 business miles covered. Click here to find out how to implement a successful workplace charging scheme.

Emerson launches industry-first distributed control system

Emerson is launching a new distributed control system (DCS) to help industries improve the automation of their systems. The Delta PK Controller is designed to provide scalable automation control to all process industries, particularly those in the life sciences, oil and gas, petrochemical and discrete manufacturing sectors. Currently, many of these industries use programmable logic controllers (PLCs) with limited capabilities, which are not integrated into a wider system. The new control system allows them to connect the systems more easily, which the manufacturer says will help improve their performance, safety and efficiency.

http://www.scandoil.com/moxie-bm2/news/technology_news/emerson-launches-industry-first-controller-designe.shtml

Edit page New page Hide edit links DeltaV PK Controller (photo: Emerson) Emerson is launching the DeltaV™ PK Controller, making the advanced automation of its DeltaV distributed control system (DCS) available to fast-growth industries traditionally less reliant on large-scale automation. The next-gen controller provides scalable automation control to all process industries, particularly parts of the life sciences, oil and gas, petrochemical, and discrete manufacturing industries that have relied on complex, non-integrated programmable logic controllers (PLCs) with limited operational capabilities. The fit-for-purpose DeltaV PK Controller is the process industry’s first controller that manufacturers can scale down for skid units or scale up to be natively merged into the DeltaV DCS in a larger plant. Today, these industries tend to use PLCs for smaller applications, which can create disconnected “Islands of Automation”, and limits plant production improvements. The DeltaV PK Controller is the first controller to truly bridge small and large control applications. Organisations can leverage the DeltaV PK Controller for effective, easy-to-implement standalone automation control akin to a PLC but with the features of a full-scale DCS, including advanced batch production, recipe management, execution, and historisation. Users can then choose to leave the DeltaV PK Controller standalone, or natively merge it into their DeltaV DCS. This capability eliminates operational complexity and dramatically improves the performance, safety, and efficiency of their entire project and operational lifecycle. “The DeltaV PK Controller delivers a business-effective solution for organisations of all sizes to improve automation control and integration,” says Jessica Jordan, Emerson product manager. “The controller is capable of powerful standalone control for advanced automation on skids today while still being able to easily integrate into a full-scale DCS for total plant production control.” The DeltaV PK Controller is the latest addition to Emerson’s Project Certainty initiative, targeting radical transformation in capital project execution. The new controller will simplify capital projects by enabling OEM skid-builders to design and produce skids in the same way they do today, while eliminating the costs, time, and risks associated with integrating a PLC into their control system. The DeltaV PK Controller was designed from the start with connectivity, particularly into the IIoT, in mind. The scalable controller leverages an assortment of communication protocols, including the first Emerson controller with a built-in OPC UA server. It is also the first Emerson controller with six Ethernet ports and can operate using any Emerson DeltaV I/O type, including DeltaV Electronic Marshalling, traditional marshalled I/O, wireless I/O, and integrated safety instrumented systems. In addition, it has built-in protocols to communicate with Ethernet devices such as drives and motors. Together, these features make connectivity easier at every stage and help plants achieve operational benefits of cloud-based tools and analytics through the IIoT. The DeltaV PK Controller also features built-in redundancy for controllers, communication, and power supplies, allowing organisations to improve uptime without adding to complexity or footprint.

Beijing to give $145bn credit line to Red Flag carmaker FAW

Chinese state-owned carmaker FAW Group is poised to receive CNY1.015tn ($146bn) of credit facilities from the government, the biggest such sum in China's history. The move comes after a slowdown in sales and signs of fragility in the economy. In addition, new regulations allow more foreign ownership of joint venture carmakers. Wang Feng, the chairman of Ye Lang Capital, said the deal signals that state-owned businesses are still important to the government. The carmaker produced the famous Red Flag limousines used by senior Chinese officials. It also assembles Audi cars in China and is partner to Volkswagen and Toyota.

https://www.scmp.com/business/companies/article/2170238/faw-maker-chinas-iconic-red-flag-cars-offered-record-1-trillion

President Deng Xiaoping inspects troops from the back of his Red Flag limo during a military parade on the 35th anniversary of the founding of the People's Republic of China, October 3, 1984. Photo: Xinhua

<> Food exports to China have 'gone from overdrive to near standstill'

US perishables exports to China are down less than Canadian volumes, as US farmers and fishermen already took a hit from the tariff war last year, he noted.He expects to move more perishables from the Pacific north-west to China over Vancouver, but seafood exports from Canada’s east coast will be affected by efforts of US competitors to regain lost ground, he reckons.Perishables exporters in Thailand, Myanmar and Vietnam have to choose between redirecting their produce at their domestic markets, driving down prices, and seeing their exports rot at closed border crossings with China.

https://theloadstar.com/food-exports-to-china-have-gone-from-overdrive-to-near-standstill/

By Ian Putzger 21/02/2020 For many perishables exporters and their logistics providers in the Americas, China has turned from an Eldorado into a nightmare. Capacity has shrivelled up to a fraction of previous lift, and rates are headed for the stratosphere. Reefer capacity is in even worse shape, but these horrors pale in the face of the collapse that the market has suffered in the wake of the Covid-19 virus epidemic. China has been the biggest driver of the growth in global perishables flows, but it hit the brakes because of the virus outbreak, leaving exporters scrambling to find alternative markets. For Flying Fresh Air Freight, Canada’s leading perishables forwarder, seafood shipments to China went from overdrive to near standstill. “We went to zero business in seafood to China,” said chairman and CEO Brendan Harnett. “Now we’re moving a little bit, but maybe 5% of what’s normally going.” The end of the extended new year holiday is not reviving demand. “China is going back to work, but volumes are horrible. Restaurants are still shut down,” Mr Harnett said. Canadians are not the only ones who have seen their China exports implode. “Exports via airfreight into China are off on food of all sorts globally, as people are not going out to eat and tourism is not happening,” remarked Chris Connell, senior vice-president perishables North America of Commodity Forwarders, a Kuehne + Nagel company. US perishables exports to China are down less than Canadian volumes, as US farmers and fishermen already took a hit from the tariff war last year, he noted. With China’s pledge to import billions of dollars worth of goods from the US this year under the first phase of the trade pact between the two countries, the US food sector was looking forward to a bumper year of exports, but the epidemic has shrouded the outlook in doubt. US trade bodies have pointed out that the agreement does not specify the details how China will go about meeting its import commitments. As the battle with the virus took centre stage, the Chinese authorities have not unveiled any details. On the Canadian side, Flying Fresh is bracing itself for a resurgence in US perishables shipments to China. Mr Harnett reckons this will be partly driven by the US-China agreement. He expects to move more perishables from the Pacific north-west to China over Vancouver, but seafood exports from Canada’s east coast will be affected by efforts of US competitors to regain lost ground, he reckons. Perishables exports from Latin America have also suffered. ASOEX, the Chilean exporters association, estimates that earnings of the country’s fruit exports could drop $100 million because of the outbreak. Some of this is the result of diminished demand from China, some because shipments have been stuck in ports. On 20 February the Chilean minister of agriculture confirmed that as many as 2,300 reefer containers – most of them loaded with cherries – were stranded in China, up from about 1,500 two weeks earlier. To alleviate the problem Chile has requested that the usual quarantine period of 2-3 days be cut to under 24 hours. The agriculture minister also suggested that fruit that is still in Chile at this point could be directed at other markets to overcome the crisis. Mr Connell noted that no market can absorb the volume usually taken by China. He anticipates a repeat of last year’s pattern, which saw some efforts by US growers to develop new markets but mostly a stronger focus on domestic North American markets. Mr Harnett sees some potential to shift exports to other Asian countries, but it will take a long time to develop those markets, he said. For that matter, Asian producers are faced with the same dilemma. Banana growers in the Philippines lost their biggest market earlier this month when China suspended imports. Perishables exporters in Thailand, Myanmar and Vietnam have to choose between redirecting their produce at their domestic markets, driving down prices, and seeing their exports rot at closed border crossings with China. Mr Harnett reckons it will take a long time for the Chinese market to recover, which augurs tough times ahead for perishables exporters and logistics providers. In light of this, the current shortage of lift to China and the prospect of airfreight rates spiking sharply in the coming days are of relatively minor concern. “High freight rates are not helping, but less demand is playing a larger role,” Mr Connell commented.

The mobile payments battle just intensified in the UK as Shopify launches ahead of Square to take on iZettle

Swedish-made mobile point of sale device iZettle is facing stiff competition in the form of several newcomers to the UK market, most notably Canadian start-up Shopify. The unicorn already has 30,000 sellers across the UK and is keen to drive its brand further with the launch of a card reader, only the second market beyond the US for the device. Square, Twitter chief Jack Dorsey's mobile payment firm is also planning to launch in the UK after gaining approval from the financial regulator. Also competing for a slice of the market are venture-backed start-up SumUp, and PayPal Here.

http://www.cityam.com/248058/mobile-payments-battle-just-intensified-uk

The mobile payments battle just intensified in the UK iZettle is likely a familiar sight if you frequent small coffee shops or market stalls across the capital. The tiny card reading machine has sprung up across the UK, making it easier for shops to offer customers the option of paying by card without having to invest in the pricey systems offered by the big tech companies. Swedish born startup iZettle has been in the UK for nearly four years now – an eternity and then some in the fast moving world of tech startups. Read more: We've already spent more via contactless than in all of 2015 But, it’s about to face some competition. Shopify, a Canadian startup which went public on the New York and Toronto stock exchanges last year with a so-called unicorn valuation of more than $1bn, is launching in the UK. It already boasts 30,000 sellers across the UK who use their other ecommerce tools and the market accounts for around 10 per cent of business already. But the launch of the card reader is its first major push in the UK and only its second market outside of North America for the device. It works with iPhones and iPads, supporting payments made by contactless cards, chip and pin as well as Android and Apple Pay. It comes as Square, the mobile payment firm set up by Twitter chief Jack Dorsey which recently floated, plans to launch in the UK in its first move into Europe. Read more: Google's Apple Pay rival Android Pay is finally here Square has already set up a company in the UK and gained authorisation from the financial regulator while it earlier this year named Lord Paul Deighton, a former commercial secretary to the Treasury to its board. While Sweden's iZettle is the most established device in the UK, there is also competition from the London-based venture-backed startup SumUp, and PayPal Here. Mobile point of sale terminals are expected to handle around 20 per cent of all retail transactions in the UK by 2021. That figure currently stands at just four per cent, according to Juniper Research. Meanwhile, contactless spending by consumers has rocketed, with spending hitting more than £9bn in the first six months of the year, already overtaking the entire spend of 2015.

Container shipping spot rates are down due to Chinese New Year

Container shipping spot rates have fallen and are predicted to remain challenging for major carriers in the coming weeks, following a fall in demand after the lunar New Year. The Shanghai Containerised Freight Index recorded a drop of 9.6% for the week ending 2 March, whilst rates for both Asia-Europe and Asia-US carriers fell by more than 10%. The decreases have affected companies including Maersk, Cosco, Hapag-Lloyd, Evergreen, Orient Overseas, NYK, Mitsui and K-Line. Demand is expected to pick up again in the summer, until when carriers are hoping that a cut in capacity may halt the decline. 3. Capacity Glut Will Put Container Spot Rates to TestReturn to Top Contributing Analysts Rahul Kapoor (Transportation) Shanghai, China Containerized Freight Indexes DataChart Container-shipping spot rates are likely to come under more pressure in the weeks ahead on muted demand following the Lunar New Year. The Shanghai Containerized Freight Index dropped 9.6% for the week ended March 2, and is unchanged from a year ago. A general rate increase announced March 1 by Asia-Europe and Asia-U.S. shippers likely failed, as rates for both trade lanes fell more than 10%. Carriers are counting on capacity cuts to arrest the decline in spot rates until demand picks up again this summer. Companies Impacted: Maersk, Cosco, Hapag-Lloyd, Evergreen, Orient Overseas, NYK, Mitsui and K-Line are among operators affected by rate volatility. The Shanghai Containerized Freight Index measures spot rates for Shanghai exports. Trade lanes to Europe, the Mediterranean and the U.S. account for 58% of the index. (03/04/18) Capacity Glut Will Put Container Spot Rates to Test 2018-03-05 02:07:17.786 GMT BI SHIP GLOB NOTEIN Container-shipping spot rates are likely to come under more pressure in the weeks ahead on muted demand following the Lunar New Year. The Shanghai Containerized Freight Index dropped 9.6% for the week ended March 2, and is unchanged from a year ago. A general rate increase announced March 1 by Asia-Europe and Asia-U.S. shippers likely failed, as rates for both trade lanes fell more than 10%. Carriers are counting on capacity cuts to arrest the decline in spot rates until demand picks up again this summer.

https://sourcingjournalonline.com/ocean-cargo-freight-rates-volume-drewry/

Lower volume, partially explained by factories shutdowns in China and other parts of Asia but also indicative of a longer-term trend, brought down ocean carrier freight rates in the last week. The World Container Index assessed by Drewry, a composite of container freight rates on eight major routes to and from the U.S, Europe and Asia, was down 2.2% to $1,464.90 per 40-foot container (FEU) for the week ended Thursday. The average composite index of the WCI, assessed by Drewry for year-to-date, was $1,472 per FEU, which was $93 lower than the five-year average of $1,565 per FEU. One FEU is a 40-foot cargo container or equivalent unit. The volume decline due to Chinese New Year holidays resulted in a decrease of spot rates on routes originating from Asia this week. Rates on Shanghai to New York fell $107 to reach $2,718 per FEU, and Shanghai to Los Angeles slid to $1,471 per FEU. Similarly, on the Asia-Europe trade routes, rates on Shanghai to Rotterdam fell $56 to $1,684 per FEU. Rates on Transatlantic Westbound and Eastbound routes stabilized at $2,070 and $501 for an FEU, respectively, Drewry reported. As a result of these rate changes, the Composite Index inched down $32 to reach $1,464.9 per FEU this week. Drewy said it expect rates to soften next week. Factories in China and Vietnam, the two largest U.S. apparel suppliers, closed for the Lunar New Year that began on Feb. 16, and have historically stayed shut for two to four weeks. According to the Global Port Tracker produced by the National Retail Federation and Hackett Associates, cargo container imports in March are forecast to be down 2.3% at 1.5 million 20-foot equivalent units (TEU) from a year earlier, when the Lunar New Year fell earlier in the calendar. Importers will undoubtedly benefit from lower cargo rates, but for carriers it presents risks and challenges. In issuing profit and earnings guidance last month for fiscal 2018, A.P. Moller – Maersk said they are “subject to considerable uncertainty, not least due to developments in the global economy and the container freight rates.” Maersk said it expects earnings before interests, tax, depreciation and amortization (EBITDA) in the range $4 billion to $5 billion, but warned that a plus or minus shift or $100 per FEU could impact its EBITDA by $1.3 billion. In its annual report, the company said of its Maersk Line division, “The global container demand was strong in 2017, despite a slowdown in the second half of the year following a strong first half, which resulted in increased freight rates compared to the previous year.” Freight rates increased across all trades, as East-West rates increased 19.3%, North-South rates increased 8.9% and Intra-regional rates increased 2.4%, Maersk noted. East-West freight rates were driven primarily by Europe trades, while North-South rates were driven by all trade clusters led by West Central Asia and Africa trades. “The increase in freight rates was a result of a record low level in 2016,” the company said, adding that the reported 2017 freight rates peaked in the second quarter, followed by a slowdown from the beginning of the fourth quarter through the end of the year.

10 TikTok Statistics That You Need to Know [Updated April 2020]

TikTok is an iOS and Android media app that can be used for creating and sharing short videos. It was initially launched as Douyin in September 2016, in China. The following year, in 2017, the app was launched by ByteDance for markets outside of China. TikTok is available all around the world via the App Store or Google Play stores.

https://www.oberlo.com/blog/tiktok-statistics

Article by Maryam Mohsin 10 Jul, 2022 Most people might recall TikTok as being the hit pop single by Kesha. And we don’t blame them. But for the teens of the world, it has taken a completely different meaning. Try asking one of Gen Z’ers and they’ll tell you that TikTok is a completely new subculture. TikTok is one of the fastest growing social media platforms in the world which presents an alternative version of online sharing. It allows users to create short videos with music, filters, and some other features. Sometimes it’s funny, sometimes it’s cringey, but it’s definitely addictive. And while for many people TikTok seems to be filling a void left by Vine, there’s much more to it than just that. TikTok provides a platform for users to express themselves in a very creative way. But what exactly is this mystery app that youngsters can’t seem to get enough of? Let’s take a look. What is TikTok? TikTok is an iOS and Android media app that can be used for creating and sharing short videos. It was initially launched as Douyin in September 2016, in China. The following year, in 2017, the app was launched by ByteDance for markets outside of China. TikTok and Douyin both use the same software, but maintain separate networks in order to comply with Chinese censorship restrictions. TikTok is available all around the world via the App Store or Google Play stores. Our favorite cover of “Stand by Me.” 😍 pic.twitter.com/qcVTwiPvI5 — TikTok (@tiktok_us) October 22, 2018 Some of you might be wondering why TikTok might sound oddly similar to Musical.ly in terms of what you do within the apps. And there’s a good reason why. In late 2017, TikTok’s parent company ByteDance, purchased Musical.ly. As a result of the merger, TikTok had smooth access to targeting the US teenage market which previously belonged to Musical.ly. To give you an idea of what TikTok aims for as a company, their mission is “to capture and present the world’s creativity, knowledge, and precious life moments, directly from the mobile phone. TikTok enables everyone to be a creator, and encourages users to share their passion and creative expression through their videos.” In doing so, TikTok competes with giants like YouTube, Instagram, and Facebook that have either the backing of Google or Facebook. What helps TikTok stand out among the competition is that it’s more of an entertainment platform, instead of a lifestyle platform. And what makes it so attractive is that practically anyone can become a content provider because of the simplicity of using the app. That’s why it appeals to so many content creators around the world and why they’re exploring ways to improve their TikTok growth. Now that we understand what TikTok is, let’s dive into the top 10 TikTok statistics for 2022, and why knowing them can be useful for marketers around the world. By the way, here’s a course on Tiktok marketing and a blog post that discusses TikTok for business that can teach you critical tactics for getting sales using Tiktok. Top 10 TikTok Statistics 1. How Many Users Does TikTok Have? Launched in September 2016, TikTok has exploded in popularity over the past few years. The latest TikTok statistics show that, as of July 2022, the platform has over one billion monthly active users worldwide (DataReportal, 2022). That makes TikTok the seventh-most popular social media platform in terms of users, ahead of others that have been around much longer such as Snapchat, Pinterest, and Twitter. Just to give you an idea of how other apps performed in comparison with TikTok’s growth, it took Instagram 7.7 years from its launch to hit the one-billion user mark. Facebook, widely known as the king of social media, took 8.7. The only social media platform to reach this milestone quicker than TikTok is Facebook Messenger. With that said, this TikTok user statistic of one billion does not include users in China, home to TikTok’s parent company, ByteDance. That’s because the social media site operates under a different name there. Called Douyin, this Chinese version of TikTok boasts 613 million daily active users. This means that together, TikTok and Douyin have over 1.6 billion active users worldwide. 2. How Many Downloads Does TikTok Have? In February 2019, TikTok reached its first billion downloads. The app took just under eight months to gain half a billion more. These figures are nothing short of impressive, considering that the app was launched only as recently as 2016. Today, TikTok’s growth is showing no signs of stopping. The latest TikTok statistics show that as of April 2020, the popular video app has been downloaded more than two billion times worldwide on both the Apple App Store and Google Play (Sensor Tower, 2020). In other words, TikTok was able to double its number of downloads in just over a year—a clear sign of the app’s skyrocketing popularity. That’s not the only significant download landmark that the app has reached. In the first quarter of 2020, there were a total of 315 million TikTok downloads worldwide. Not only is this a whopping 58 percent increase from the previous quarter, but more impressively, it is also the highest amount of downloads an app has ever received in a given quarter. The surge in downloads is most likely a result of the coronavirus pandemic. Under lockdown, consumers were spending increasingly more time on their mobile phones and seeking out entertainment and new ways to stay connected, which in turn, drove TikTok downloads. 3. TikTok is the Most Downloaded App on the Apple App Store If the previous TikTok statistic didn’t amaze you, this one will surely blow you away. TikTok is the most downloaded app on the Apple App Store in Q2 2022, with over 60 million downloads in a single quarter on iPhone and iPad devices (Sensor Tower, 2022). The app strongly beats out CapCut, Google Maps, YouTube, and Instagram, which round out the top five. In comparison, TikTok is the third-most downloaded app on Google Play, behind Facebook and Instagram. However, that’s not to say that TikTok’s any less popular among Android users. Looking at hard numbers, we see that there were 125 million downloads by Android users in Q2 2022. TikTok is also sitting comfortably at the top of the list of the most downloaded app worldwide, with around 187 million downloads in Q2 2022. In comparison, the second-most downloaded app, Instagram, saw around 170 million downloads. More impressively, It’s the eighth time in the last ten quarters that Tiktok has topped the charts. 4. TikTok Conquers US Youngsters TikTok might still be a bit of a head-scratcher for the older generations, but it has really hit the nail on the head when it comes to engaging with youngsters. 62 percent of TikTok users in the US are aged between 10 and 29 (Statista, 2020). In comparison, just 7.1 percent of them are over the age of 50. Why is TikTok so popular among the younger generation, while many older social media users have never heard of it? Simply put—it’s by design. To start off, the lure of TikTok among the younger generation can be explained by the fact that the app’s creators decided to choose users aged under 18 as their target audience from the very beginning. In a way, you can say that TikTok creators understood the younger generation much better than their competitors. With their target audience specified from the start, they studied their habits and preferences, which helped them create a social media app that gives them exactly what they’re looking for. TikTok allows its users to express themselves creatively. Sharing amusing videos of themselves singing, dancing, or lip-syncing to their favorite tunes are just some ways youngsters use TikTok.

Ecommerce Statistics 2020

The world’s commerce continues to move online at a steady rate, supported by several factors like improvement in infrastructure and the availability of affordable devices. By 2040, around 95% of all purchases are expected to be via ecommerce. India is expected to rank first in terms of B2C ecommerce development between 2018 and 2022.

https://99firms.com/blog/ecommerce-statistics/

Being up-to-date with the latest ecommerce trends is not just critical for online business owners today but also for those whose business is predominantly in-store based. As these latest ecommerce statistics show, the world's commerce continues to move online at a neck-breaking pace, having rapidly accelerated since the global pandemic started. So, read on to learn the most important stats and facts that can propel your ecommerce business forward this year and beyond. Ecommerce Statistics (Editor's Choice) E-retail totaled over $4.9 trillion in 2021. (Statista) Cross-border ecommerce sales worldwide grew over 20% in 2020. (Forbes) US ecommerce grew by over 14% in 2021. (Digital Commerce 360) Amazon's net profit increased by over 80% in 2020. (Forbes) Over half of consumers use smartphones for shopping. (Oberlo) There are over 3.8 billion ecommerce users worldwide. (CSA) China is the world leader in ecommerce. (eMarketer) Germany and the UK are the most significant European ecommerce markets. (PostNord) General Ecommerce Stats 1. The ecommerce market value exceeded $10 trillion in 2020. The ecommerce market size was valued at $9.09 trillion in 2019 and reached $10.36 trillion in 2020. Ecommerce worldwide is projected to grow at a 14.7% CAGR from 2020 to 2027, with revenue for 2027 pegged at a whopping $27.15 trillion. (Grand View Research) 2. E-retail totaled over $4.9 trillion in 2021. Online shopping has become a regular aspect of everyday life, especially for young adults. 2021 made even more people adopt the trend, and ecommerce growth statistics show retail ecommerce sales amounted to $4.93 trillion in 2021. This year e-retail sales should climb to $5.54 trillion. (Statista) 3. Fashion is the largest segment of B2C ecommerce. The fashion and apparel industry, including clothing, shoes, bags, and accessories, was estimated at over $759 billion in 2021 and is expected to exceed $1 trillion by the end of 2025. That said, the sector looked shaky in 2020. Online sales statistics for fashion reveal that this segment saw a 15% increase year-over-year. (CSA) 4. Cross-border ecommerce sales worldwide grew over 20% in 2020. The latest data shows 55% of online shoppers made a cross-border purchase in 2020. The majority of consumers trying this for the first time are likely to continue even after some kind of normality returns in our lives. The ease of purchasing and disruptions in items in stock at home caused cross-border purchases to increase by 21% over the course of 2020. This means that brands and digital marketers should consider revamping strategies, adding more nearby territories in long-tail keywords, etc. (Forbes) 5. US ecommerce grew by over 14% in 2021. The unprecedented situation with the pandemic led to results that weren't expected for a few more years. Out of necessity, ecommerce adoption rates skyrocketed, with US consumers spending $870.78 billion online. That's nearly a quarter of the total retail sales for the year. Ecommerce growth stats show the total for 2021 was 14.2% higher than in 2020. Meanwhile, the previous year-on-year increase was 31.8%. (Digital Commerce 360) 6. Online retail ACSI fell to its lowest point since 2015. The 2021 report on the American Customer Satisfaction Index shows a decline compared to 2020 due to various disruption factors caused by the pandemic. The overall score for internet retail saw a 2.3-point YOY drop and was 75.5 out of 100 in 2021. The score had been 80 or higher since 2014. Every examined aspect deteriorated, as these ecommerce stats during COVID show, the two with the biggest drop of 5 and 4 points being usefulness of product images and frequency of sales and promotions, respectively. (Business Wire, ASCI, Statista) 7. The average cart abandonment rate is close to 70%. Different studies show results ranging from around 50% to over 80% for the average cart abandonment rate in online shopping. Various factors during the process can impact this, especially during checkout, and ecommerce stats show the average from all the data compiled is 69.8%. Choosing the right ecommerce platform is an essential aspect of conducting your business online, as a smooth customer experience can significantly reduce the abandonment rate. (Baymard) Learn more: Ecommerce KPIs 8. Extra costs are the primary reason for cart abandonment in the US. When US online shoppers were asked to cite the most frustrating parts of ecommerce that lead to abandoning their carts before making a purchase, hidden or extra fees ranked first, with 48% of respondents choosing the reason. Obligatory account creation was second for 24%, while slow delivery ranked third, with 22% of consumers saying so. Shopping cart abandonment stats further reveal that ecommerce businesses lose $18 billion every year due to the increasing shopping cart abandonment rates. (Baymard) Learn more: Ecommerce Metrics 9. Amazon's net profit increased by over 80% in 2020. Amazon's net profits were up 84% in 2020 as compared with the year before. Ecommerce statistics worldwide show the company's revenue increased 38% and reached an all-time high of $386 billion. That was unprecedented growth in a year, but before getting amazed by the numbers, we should consider the overall ecommerce growth. The boost that happened in 2020 was supposed to develop over several years gradually. (Forbes) 10. eBay's annual net revenue exceeded $10 billion for the first time in 2020. The global platform had several significant milestones in 2020, one of them being net revenue of $10.271 billion, as ecommerce growth statistics for eBay show. Even though it came close to this in 2017 with $9.93 billion, what followed was a decrease, hovering around $8.6 billion for a couple of years. Besides its net revenue, another milestone of reaching $1 billion happened in the advertising segment revenue. (eBay, Statista) 11. Shopify's revenue grew over 85% in 2020. Another internet-based company also enjoyed a rise in 2020. The Canadian ecommerce giant’s products are available in 175 countries worldwide, and the company reported a 94% increase in Q4 2020 revenue compared to the prior-year quarter. For the whole year, Shopify's revenue grew 86%. (Shopify) Mobile Ecommerce Statistics 12. There are 3 types of mobile commerce. Statistics about mcommerce show various transactions are included in the concept. They are categorized into: Mobile shopping (ecommerce from mobile devices); Mobile banking (online banking through a dedicated app); Mobile payments. (BigCommerce) 13. Over half of consumers use smartphones for shopping. Mobile is the future of online shopping, and mobile traffic already accounts for over 55% of the total. Global ecommerce statistics show the percentage of consumers using their smartphones for shopping also exceeded half, accounting for 55.4% of global ecommerce sales in 2021. This is due to multiple factors, such as Instagram’s in-app purchases, and social media marketers are using the fact to their advantage. For internet users aged 16-64, the percentage is even higher for using shopping apps at least once a month, or 69.4%. (Statista, Oberlo) 14. Shopping apps rank higher for iOS users. When we look at ecommerce data regarding downloaded apps in 2020, there is a significant difference in popularity between Android and iOS mobile users. Shopping apps rank in 9th place for Android users and the 5th for iOS users. These rankings tell us only about typical user behavior, not the overall popularity, as there are more Android users overall, keeping the best Android app developers busy. (We Are Social) 15. Shopee was the most downloaded shopping app in 2021. Amazon, the global leader in a variety of sectors and products fell from first place to fourth, while the title of the most downloaded shopping app in 2021 went to Shopee. It was downloaded 203 million times worldwide, which is an increase of 46% compared to 2020. (Marketplace Pulse) Online Shoppers: Statistics and Trends 16. There are over 3.8 billion ecommerce users worldwide. In 2020, the number of ecommerce shoppers skyrocketed to exceed 3.4 billion as a consequence of the pandemic. No one could've predicted such a jump in several months only, and as the necessity disappears, growth is predicted to slow down a bit. Nevertheless, the number means over 43% of consumers worldwide shopped online in 2020. Based on 2021 projections the number of ecommerce worldwide users should have already reached 3.8 billion, and that 48.1% of the global population shopped online last year. (CSA, Worldometer) 17. Almost three-quarters of consumers use multiple channels before buying. The omnichannel strategy has been an absolute necessity for a while now, as shoppers' journey doesn't end on the vendor’s website, they will track your social media pages, compare prices on similar items, etc. Ecommerce sales statistics show a staggering 73% of buyers report using multiple channels during their shopping process. If you're still not convinced you should go with the multichannel approach, brands that wisely invested in ecommerce SEO services report a 190% or higher increase in their revenue. Make sure to include social media, sell on ecommerce giants such Amazon or eBay, and promote your business on search engines. (Shopify) 18. Over half of the consumers agree they shop online more since the COVID-19 outbreak. The United Nations conducted a survey to examine the impact of the pandemic on online shopping, and their sample included all global regions. Ecommerce industry statistics clearly state that most consumers switched to digital, with 52% agreeing they shop online more since the pandemic started. Additionally, 53% agree they will continue with the latest digital habits they adopted during the pandemic. (UNCTAD) 19. Over 86% of millennials in the US shop online. The statistical data for US ecommerce shoppers point to Millennials being the most prolific group, with 86.2% of them doing so. However, ecommerce demographics also include a large number of older users — Gen X follows with 79.2% buying online, and for Boomers, the percentage is 62.1%. (Statista) 20. Almost 60% of Gen Z used social media for shopping. New kids on the block aged up to 25 are called digital natives, so what does that mean? Simply put, they don't know life without the internet and social media. Influencers are heavily targeting them in their campaigns, and it works. 58% of Gen Z-ers report buying on social media, primarily Instagram. Ecommerce stats show for the other group of young adults, Millennials, the percentage is 45%. (Total Retail) 21. There are 426 million PayPal active users. PayPal is one of the most commonly used payment systems by ecommerce services. It allows easy transactions in many currencies, and the service reported 426 million active users at the end of 2021. PayPal transactions during the pandemic show it was the most popular payment method in Germany and Italy, for 72% and 71% of consumers. In Switzerland, it was the payment method of choice for 51% consumers, and ecommerce stats for South Africa also point to PayPal as fairly popular, favored by 40% of online shoppers. (Statista, UNCTAD) 22. Home delivery is the preferred option for most online consumers. Ecommerce facts show that home delivery is the most favored option for most consumers globally when they shop online (85%). Next on the list is a pick-up point from a logistic provider with 22%, followed by delivery to the consumer’s workplace with 19%. (UNCTAD) 23. The tourism and travel industry suffered the most significant drop in 2020. 2020 brought lockdowns, and most countries closed their borders for extended periods to prevent the spread of the coronavirus. As shown in these ecommerce stats, during COVID, the decline in tourism and travel spending was 75%. Global ecommerce sales of flights and other transportation methods were included in the report, along with hotel bookings. (UNCTAD) 24. Half of consumers are buying products online they haven't before. Many new product categories have been introduced into “regular” consumer behavior and 50% report buying something online they hadn’t before. Ecommerce statistics show some of the top categories are: Groceries; Household items; Toys and sports equipment. (Bloomreach) 25. Half of consumers would pay more for a better online shopping experience. Customer experience is a product equally relevant as the one consumers are actually purchasing. 47% report they are willing to pay more money for a faster and better experience while shopping online. With close to half consumers further admitting that they wouldn't buy from the same seller after a bad experience, it seems that hiring an ecommerce development company to ensure a top online shopping experience pays off in the long run. (Retail Dive) Amazon Online Retail Sales Statistics 26. Consumers spent over $11 billion during the Prime Day event in 2021. Prime Day has become the new Black Friday. The 48-hour ecommerce worldwide sales event was held in the summer between June 21 and June 22. The ecommerce giant’s sales levels exceeded a whopping $11 billion, and Amazon's Prime members bought more than 250 items during the event. (Digital Commerce 360) 27. Third-party sellers earned over $3.5 billion during the 2020 Prime Event. The company is a channel for third parties to advertise their business and sell their products. Ecommerce sales statistics show that in 2020, $3.5 billion went to third-party sellers. The same data is not available for 2021, as Amazon stopped sharing sales figures. (GeekWire) 28. Over 50% of products on Amazon are from SMBs. The company is proud of enabling small and medium businesses to appeal to larger audiences, promote their brand, and sell directly on Amazon's website. Ecommerce statistics show its virtual shelves have been available to them since 2000, nowadays in 130 countries worldwide. Over half of the products on Amazon come from SMBs. (Amazon) 29. Amazon's market cap exceeded $1.7 trillion as of June 2021. Ecommerce industry statistics point to another aspect in which Amazon positions at the top; its market cap value at $1.735 billion. Alibaba ranked second with $614.8 billion. There is no other internet-based company that can come even close to the two, as Shopify, PinDuoDuo, and Prosus that rank in the top 5 have $182.1, $159.2, and $158 billion, respectively. (Statista) 30. Amazon accounts for over 43% of US ecommerce sales. Boosted by COVID-19, other ecommerce players gained a large portion of the market. Online shopping growth statistics show Amazon's share grew from 418% in 2020 to 43.5% in 2021. Many companies offered online sales for the first time as a response to COVID-19, and as it turns out, they only needed a little guidance from digital strategy professionals. (Digital Commerce 360) 31. Amazon is by far the most visited e-retail website. When examined by the average monthly traffic, Amazon ranks first, having 3.67 billion monthly website visits in 2020. That's over 3 times higher than the second place holder, eBay, which had 1.02 billion. Rakuten, Samsung, and Aliexpress also had over half a billion, while Walmart came close to that milestone with 492 million monthly website visits. (Statista) Global Ecommerce Statistics 32. There's a strong correlation between increased ecommerce popularity and COVID-19 anxiety in selected European countries. The variable of COVID-19 cases throughout Europe showed direct reflection in the popularity of ecommerce and countries with a high number of cases. Anxiety and fear that led to an increase in online shopping were proportional to the number of recorded cases amidst the pandemic. Consumers in Spain, Belgium, Italy, The Netherlands, and Poland reported shopping online more often. (PostNord) 33. Latin America noted the highest ecommerce growth in 2020. Global online shopping statistics show that the fastest growth in ecommerce sales worldwide happened in Latin America. The increase was 36.7%, compared to 2019. North America ranked second with a YOY change of 31.8%. The region of Central and Eastern Europe saw a 29.1% increase. The average growth on a global level was calculated at 27.6%. (eMarketer) 34. China is the world leader in ecommerce. China alone was expected to make up for exactly one-third of digital buyers in 2021. Online shoppers statistics show that's 792.5 million people. Not only it ranked first in the number of people engaging in ecommerce, but it was also expected to become the first country where over half of all retail sales would happen online in 2021. China should also produce 56.8% of the global total, i.e., over $2.8 trillion in ecommerce sales. (eMarketer) 35. The US is the second-largest market worldwide. The US ranks second, with ecommerce being a 19% share of the total retail sales and $843 billion in annual sales. Even though it sounds quite impressive, ecommerce statistics reveal China has almost triple the percentage — 52%—and $2.78 trillion in online annual sales. The rest of the top 10 ecommerce markets go as follows: The UK ($169 billion, 4.8%) Japan ($144 billion, 3%) South Korea ($120 billion, 2.5%) Germany ($101.5 billion, 2.1%) France ($80 billion, 1.6%) India ($67.5 billion, 1.4%) Canada ($44 billion, 1.3%) Spain ($37 billion, 0.72%). (Business) 36. Germany and the UK are the most significant European ecommerce markets. It's no coincidence the largest European markets are the two countries where Amazon has been available the longest. The US ecommerce giant has been present in Germany and the UK since 1998. Online sales statistics show shoppers spent €62.8 billion in Germany and €52.4 billion in the UK in 2020. France, Spain, and Italy complete the top 5 list with over €30 billion spent in each country. (PostNord, Pattern) 37. Close to 50 million UK consumers shop online. The current population of the UK is just over 68.5 million people. With 49.3 million consumers shopping online, the country ranks as the third-largest ecommerce market, right after China and the US. The 2021 report of ecommerce statistics for the UK points to a whopping 95% of consumers aged 15-79 buying online. (PostNord, Worldometers) 38. Canada's ecommerce grew over 70% in 2020. While ecommerce accounted for a small portion of Canada's total retail sales, the increase was nevertheless impressive. The latest ecommerce statistics for Canada show that throughout 2020, the growth of ecommerce levels was at a stunning 72.7%, which is quite a jump from the 22.1% growth in 2019. (Media in Canada) 39. Over 13 million people in Malaysia shop online. 88.3% of internet users in Malaysia said they use shopping apps on their mobile or tablet devices. Some of them seem to be just browsing online stores, as 82.9% report actually shopping online. We've already mentioned many people browse to compare the prices while in brick and mortar stores, so the numbers add up. The latest ecommerce statistics for Malaysia reveal 13.10 million people shop online. (DataReportal) 40. Curbside pickup options for top retailers in the US and Canada increased almost 40% in the first 8 months of 2020. As health and safety issues became one of the top priorities in shopping, companies had to swiftly adapt to their customers' expectations. In December 2019, only 6.9% of the top 500 retailers in the US and Canada offered the option of curbside pickup. Fast forward to August 2020, the percentage among the same retailers was 43.7%. During the peak of the pandemic, Adobe also examined this aspect, and the results for several critical weeks in April 2020 point to a 208% increase in curbside pickups in the US. (Digital Commerce 360, Supply and Demand Chain Executive) 41. The ecommerce penetration rate in Singapore is close to 80%. The latest ecommerce statistics for Singapore point to a high rate of online shoppers, i.e. 79.7% of total internet users aged 16-64. Even more, 89.4% say they've visited online shops. The majority of ecommerce shoppers in the country (or 56.9%) further use mobile devices to do so. (DataReportal) 42. In the Philippines, ecommerce is most popular for the 35-44 age group. The Philippines are also among the ecommerce markets where over 80% of internet users are shopping online. Close to 70% report doing so via their mobile device. Ecommerce statistics for the Philippines show online shopping is the most popular for people aged 35-44. 86.9% of internet users within this age group shop online. The total value of the Philippines' B2C ecommerce market was last reported at $3.55 billion. (DataReportal) 43. In Australia, the biggest growth in consumer ecommerce in 2020 was in the food and personal care industry. The percentage of internet users aged 16-64 who shopped online Down Under was 74.9% in 2020. Interestingly, less than half report shopping via mobile devices. Ecommerce facts show that travel, mobility, and accommodation had the most significant drop, as in every other county worldwide, reported at 46.4%. On the other hand, ecommerce statistics for Australia point to food and personal care products seeing the highest YOY growth of 30.4%. The category of digital music followed with a 25.9% increase. (DataReportal) 44. India’s ecommerce market is poised to reach $200 billion by 2026. The “Digital India” program conducted by the Government is doing exactly what the name states. Rapid urbanization is carried out by the rising internet and smartphone penetration rates, with a whopping 97% of connections being wireless. The two are also mirrored in India's ecommerce market growth, which was valued at only $38.5 billion in 2017. Ecommerce statistics for India project that the market will rise to a stunning $200 billion by 2026. (IBEF) Wrap-Up Ecommerce and mcommerce were growing at a much faster pace than overall commerce even before the pandemic started. We are yet to see the exact consequences of COVID-19, but these ecommerce statistics already tell a lot about the changes that happened, both objectively and in consumers' perception of shopping. Factors such as the availability of affordable devices and improved infrastructure on a global level further support forecasts that most of the world's commerce will move online in the near future.

Samsung Pay is adding new markets

Samsung Pay is officially launching in Singapore in June, with Australia set to follow soon after, as the mobile giant brings its proprietary mobile wallet service to Southeast Asia. Samsung has partnered with major Singapore-based banks, including CitiBank and Standard Chartered, as well as Visa and Mastercard, while in Australia, partner American Express is rumoured to be joined by Bank of Melbourne and Westpac, among other financial institutions. Samsung benefits from mature markets in both countries, controlling 29% of Singapore’s smartphone market, as well as 70% of Australia’s Android and 40% of the nation’s smartphone market.

http://uk.businessinsider.com/samsung-pay-is-adding-new-markets-2016-6?r=US&IR=T

BII This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. Samsung Pay, Samsung’s proprietary mobile wallet, will add its fifth market and first in Southeast Asia when it officially launches in Singapore on June 16. The wallet’s Australia launch is also “coming soon,” with reports indicating June 15 as a likely announcement or launch date, according to IBS Intelligence. Samsung Pay will launch with solid partnerships. Singapore: Samsung Pay has partnered with Visa and MasterCard and banks including Citibank, DBS, POSB, OCBC, and Standard Chartered. Samsung also noted that Amex support is "coming soon." Samsung Pay has partnered with Visa and MasterCard and banks including Citibank, DBS, POSB, OCBC, and Standard Chartered. Samsung also noted that Amex support is "coming soon." Australia: American Express will support the wallet in Australia, and it’s rumored that other banks, including Bank of Melbourne, Bank SA, Bendigo Bank, Citibank, St. George, and major bank Westpac could also sign on, according to IBS Intelligence. Both Singapore and Australia could be strong markets for the wallet. Wide market: 1.3 million Singaporean adults — 29% of the country’s smartphone market — have Samsung phones. And in Australia, Samsung controlled roughly 70% of the Android market and 40% of the country’s smartphone market overall as of Q3 2015, according to AFR. And users from both countries are interested in mobile payments — Samsung saw "thousands" of users sign up for a Samsung Pay beta test in Singapore, and Australian bank ANZ saw account applications "skyrocket" after announcing a partnership with Apple Pay, another mobile wallet. 1.3 million Singaporean adults — 29% of the country’s smartphone market — have Samsung phones. And in Australia, Samsung controlled roughly 70% of the Android market and 40% of the country’s smartphone market overall as of Q3 2015, according to AFR. And users from both countries are interested in mobile payments — Samsung saw "thousands" of users sign up for a Samsung Pay beta test in Singapore, and Australian bank ANZ saw account applications "skyrocket" after announcing a partnership with Apple Pay, another mobile wallet. Mature ecosystem: Users in Singapore and Australia are already accustomed to paying contactlessly. In Singapore, a third of all Visa credit and debit transactions in the country are conducted contactlessly. In Australia, many major banks offer their own proprietary NFC-based apps. That familiarity with tapping to pay should lower mobile wallet adoption barriers. And in Singapore, Samsung Pay will be accepted at any terminal that accepts magnetic stripe payments in addition to newer NFC-based terminals, which could give users the opportunity to pay contactlessly at an even larger number of locations. Mobile payments are becoming more popular, but they still face some high barriers, such as consumers' continued loyalty to traditional payment methods and fragmented acceptance among merchants. But as loyalty programs are integrated and more consumers rely on their mobile wallets for other features like in-app payments, adoption and usage will surge over the next few years. Evan Bakker, research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on mobile payments that forecasts the growth of in-store mobile payments in the U.S., analyzes the performance of major mobile wallets like Apple Pay, Android Pay, and Samsung Pay, and addresses the barriers holding mobile payments back as well as the benefits that will propel adoption. Here are some key takeaways from the report: In our latest US in-store mobile payments forecast, we find that volume will reach $75 billion this year. We expect volume to pick up significantly by 2020, reaching $503 billion. This reflects a compound annual growth rate (CAGR) of 80% between 2015 and 2020. Consumer interest is the primary barrier to mobile payments adoption. Surveys indicate that the issue is less the mobile wallet itself and more that people remain loyal to traditional payment methods and show little enthusiasm for picking up new habits. Integrated loyalty programs and other add-on features will be key to mobile wallets taking off. Consumers are showing interest in wallets with integrated loyalty programs. Other potential add-ons, like in-app, in-browser, and P2P payments, will also start fueling adoption. This strategy has been proved successful in China with platforms like WeChat and Alipay. In full, the report: Forecasts the growth of US in-store mobile payments volume and users through 2020. Measures mobile wallet user engagement by forecasting mobile payments' share of their annual retail spending. Reviews the performance of major mobile wallets like Apple Pay and Samsung Pay. Addresses the key barriers that are preventing mobile in-store payments from taking off. Identifies the growth drivers that will ultimately carve a path for mainstream adoption. To get your copy of this invaluable guide, choose one of these options: START A MEMBERSHIP Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of how mobile payments are rapidly evolving.

Kingfisher B&amp;Q shopper threatened by masked carjackers

A customer packing his car outside a B&Q in Castle Vale, West Midlands, was threatened with a knife by masked criminals who forced him to hand over the keys to his car. The 25-year-old man complied before the two assailants fled the scene in his Volkswagen Golf. The incident mirrors are similar carjacking outside a Morrisons on Chester Road the previous week, where another Golf driver was attacked with a blade by two men and forced to hand over his keys. West Midlands Police said they were looking into connections between the two crimes.

https://www.birminghammail.co.uk/news/midlands-news/bq-terror-masked-carjackers-threaten-17691104

Something went wrong, please try again later. Invalid email Something went wrong, please try again later. Stay in the know. Share your email to get all the latest Court and Crime news from Birmingham Live directly to your inbox Masked carjackers threatened to knife a B&Q shopper in a horrifying car park ordeal. The armed thugs struck as the victim loaded shopping into the boot of his VW Golf outside the DIY megastore in Castle Vale on Tuesday evening (February 5). The 25-year-old man was approached by the balaclava-clad men who demanded the keys to his car in the Dunlop Way car park around 7.30pm. He was then threatened with a blade, before handing the keys over to the crooks who made off with the white vehicle. Police are investigating and raised the alarm with West Midlands Ambulance Service colleagues following the incident. It is believed the man was with a woman at the time, but no one was badly injured. No arrests have been made and police are urging witnesses to come forward with information. The incident comes less than a week after another VW Golf driver, also 25, was carjacked in the Morrisons on Chester Road last Thursday (Jan 30). He was approached by two men in masks who pulled him to the floor and demanded his car keys. A metal object, believed to be a knife, was put to his throat before he handed over the keys to his black Volkswagen. Speaking on the B&Q carjacking, West Midlands Police read: "We are investigating a carjacking on the B&Q car park on Dunlop Way in the Bromford area of Birmingham just after 7.30pm last night (Tuesday). "A 25-year-old man was approached by two masked men as he placed items into the boot of his white Volkswagen Golf car. "They demanded his keys and threatened him with a knife, before managing to make off with his car. Fortunately, the man was not injured. "Enquiries continue and anyone with information can contact us via Live Chat at west-midlands.police.uk between 8am and midnight, or call 101 anytime. Carjacking - what to do Learn to lock doors whenever in any of the aforementioned areas. Keep your windows rolled up when driving in the city, and sun roofs and boots closed. You should always leave at least a vehicle and a half space between you and the car directly in front, experts say, to give you enough space to quickly maneuver around the vehicle and make your way to safety. Motorists are reminded to use mirrors and surround cameras to remain self aware. Typically, carjackers will struggle to target those driving in the middle lane, as they are harder to box in, as they have more routes of escape. If someone does hit you from behind, and something doesn't seem right, stay in your vehicle with the windows rolled up and the doors locked. If you have children in the car, make sure the carjacker knows - as this could throw them off course, and potentially help you navigate a tricky situation. Remember: non-confrontation is ALWAYS the best response. What should I do to report it? Contact the police immediately. Describe the event in as much detail as possible - remember who, what, when, where and any details that can help. Try to recall the attacker's height, weight, and any distinguishable features - be it eye colour, facial hair, tattoos, scars, hair colour, build, complexion. Describe the attacker’s vehicle, too. Take note of license plate number, colour, make, model, and year, as well as any marks like scratches, dents, damage, or personalisation. "Crimestoppers can be contacted anonymously on 0800 555 111. Please quote crime reference 20BE/31907F/20." When asked whether the latest carjacking was being linked to the Morrisons incident, police said it will form part of ongoing investigations. A spokeswoman for West Midlands Ambulance Service added: "We were called by the police at 7.45pm to reports of a carjacking involving two patients. "One ambulance attended. We assessed two patients who suffered minor injuries and were discharged on scene - one man and one woman." BirminghamLive has contacted B&Q for a statement, but as it is a live police investigation, it could not comment.

U.S. secretary of state calls for Iranian anti-government protests

U.S. Secretary of State, Mike Pompeo, has urged Iranians abroad to support anti-government protests as the Trump administration looks to exploit growing tensions within the Iranian society made worse by renewed U.S. sanctions. The "Supporting Iranian Voices" speech was held in Southern California where around 250,000 Iranian-Americans live; the State Department insist that the U.S. seeks only a "change in behaviour" by the regime but others in the administration, including the national security adviser, have made it clear that a regime change is preferable. These events follow on from a series of Iranian anti-government protests in recent months.

http://www.middleeasteye.net/news/pompeo-urge-iranians-abroad-support-anti-government-protests-1640779105

US Secretary of State Mike Pompeo plans on Sunday to urge members of the Iranian diaspora to "support" protesters in Iran, as the Trump administration hints at a desire for governmental change in Tehran after turning its back on the Iranian nuclear accord. President Donald Trump - who has made the Islamic republic a favorite target since his unexpected rapprochement with North Korea - decided on 8 May to restore all the sanctions that had been lifted as part of the multi-nation agreement aimed at preventing Iran from developing nuclear weapons. Following the US withdrawal that stunned even Washington's closest European allies, Pompeo on 21 May unveiled a "new strategy" intended to force Iran to yield to a dozen stringent demands or else face the "strongest sanctions in history." The next US step is due at 6pm local time on Sunday (0100 GMT Monday) in the Ronald Reagan presidential library in Simi Valley, California, when the secretary of state delivers a speech entitled "Supporting Iranian Voices." On July 22, 6p PT, I look forward to addressing the Iranian-American community at the @Reagan_Library. We support the proud people of #Iran in their struggle for freedom, justice & respect of their human rights. Watch live at https://t.co/8vkVAAynVF or https://t.co/yYvo9TZLdi pic.twitter.com/BwkxxZMB8I — Secretary Pompeo (@SecPompeo) July 19, 2018 With the 40th anniversary of the Islamic Revolution of 1979 a year away, Pompeo plans to retrace "40 years of stealing from the Iranian people, the terrorism they have committed around the region, the brutal repression at home" as well as the "religious persecution" there, a senior State Department official told reporters ahead of the speech. The venue for Pompeo's address is significant, the official noted: About 250,000 Iranian-Americans live in Southern California. "He will be exposing some of the corruption" of a "kleptocratic regime," the diplomat told reporters. "The regime has prioritized its ideological agenda over the welfare of the Iranian people." Pompeo launched his campaign against Iran on Twitter last month, saying the government in Tehran and the Revolutionary Guards - the regime's elite armed corps - had "plundered the country's wealth" in proxy wars "while Iranian families struggle." The Trump administration's strategy appears simple: to exploit the already growing tensions within Iranian society that are being exacerbated by renewed US sanctions that have forced some foreign firms to leave. There have been a series of anti-government protests in Iran in recent months, prompted by an array of different issues and concerns. Pompeo and the CIA are running an anti-Iran project via some Iranian American hack to destabilize/overthrow the Iran Government. A repeat of 1953 coup against Mosadegh.#StopMeddlingInIran pic.twitter.com/fB4oFnZ5fE — Reza Ramezannejad (@rrghadi01) July 22, 2018 The State Department briefer said Pompeo plans to support "the legitimate demands of the Iranian people, especially their economic demands for a better life." But how far will he and the administration go? "That's the key question," Behnam Ben Taleblu of the conservative pressure group Foundation for Defense of Democracies (FDD), told AFP. "Pompeo and the administration can do more than just rhetorical support to the Iranian protester." Several Iranian dissidents have written to Pompeo to urge him to re-establish punitive measures against the state-owned Islamic Republic of Iran Broadcasting network, which they accuse of abetting human rights violations. Word of Pompeo's planned speech has fanned speculation on Washington's precise intentions. The State Department insists that the US seeks merely a "change in behavior" by the regime. But some senior members of the Trump administration - notably national security advisor John Bolton - have made it clear in the past that they would like to see the Tehran government topple, and Pompeo himself said in May that "the Iranian people get to choose for themselves the kind of leadership they want." Iran's Rouhani warns Trump 'war with Iran is mother of all wars' Read More » To Behnam Ben Taleblu, "genuine regime change can only come from inside." With an upsurge of "Iranians of all different social classes protesting," he said, the Trump administration will have to decide whether it wants to "support elements that actually want to change the regime." Diplomats and experts in Washington are divided as to whether the protests and social tensions within Iran pose a true threat to the Islamic republic. Nor is there agreement on what it would actually mean should the Iranian government fall - but some find that uncertainty deeply worrying. "The more likely result of regime collapse would be a military coup in the name of restoring order, led by the man Washington’s Iran hawks fear the most: Gen. Qasem Suleimani," the commander of the Revolutionary Guards, according to Mark Fitzpatrick of the International Institute for Strategic Studies. "Exerting maximum pressure on Iran could bring about America’s worst nightmare," he added on Twitter.

NZ Green Party pledges mandatory climate reports for finance sector

New Zealand’s Green Party has pledged to make it mandatory for financial services companies to disclose the impact of climate change on their business in the runup to the October general election. The policy, based on a framework from the international Financial Stability Board, would require around 200 organisations to disclose their exposure to climate risk every year and would be a “world-first”, said the climate change minister and Green Party co-leader, James Shaw. However, the Green Party would need to be part of a coalition government after the election to have the chance to enact the pledge.

https://www.theguardian.com/world/2020/sep/15/new-zealand-minister-calls-for-finance-sector-to-disclose-climate-crisis-risks-in-world-first

New Zealand’s left-leaning Green party said it would require the financial sector to make annual disclosures about the impact of the climate crisis on their business, if it once again formed a government after October’s election. The policy would be a world-first, said James Shaw, the climate change minister and co-leader of the party. “Australia, Canada, [the] UK, France, Japan, and the European Union are all working towards some form of climate risk reporting for companies,” said Shaw in a statement. “But New Zealand is moving ahead of them by making disclosures about climate risk mandatory across the financial system.” Businesses covered by the requirements would have to make annual disclosures or explain why they had not done so. It is a model based on the taskforce on climate-related financial disclosures framework – formed by the international financial stability board – which is widely acknowledged as international best practice, he said. About 200 organisations will be required to disclose their exposure to climate risk, Shaw said, including large crown financial institutions, such as the country’s accident compensation scheme and the national superannuation fund. Firms covered by the requirements would have to make annual disclosures covering governance arrangements, risk management and strategies for mitigating any climate change impacts, said Shaw. If they were unable to disclose, they would have to explain why. Those covered by the proposed law include all registered banks, credit unions, building societies, managers of investment schemes, and licensed insurers with total assets of more than NZ$1b NZD. It would also cover all equity and debt issuers listed on the NZX. That would include 90% of assets under management in New Zealand within the disclosure system, said Shaw. Joseph Stiglitz, a Nobel laureate in economics, praised the policy in a video statement supplied by Shaw’s office. “Once again, New Zealand is leading the world … It led the world in showing how democratic countries could manage the risks of Covid-19,” he said. “And now, New Zealand is leading the way in showing how we can help manage the risk of climate change.” “Many large businesses in New Zealand do not currently have a good understanding of how climate change will impact on what they do,” said Shaw. “The changes I am announcing today will bring climate risks and resilience into the heart of financial and business decision making.” The plan faces practical hurdles because New Zealand’s parliament has dissolved ahead of the 17 October election. In order for it to become a reality, the Greens, a minor party, would need to form part of a coalition government after the election – they are currently part of a ruling bloc with centre-left Labour. Their proposed law would then require approval by a majority of parliament. The climate risk reporting would begin in 2023 at the earliest.

TalkTalk Gigaclear hikes prices

UK-based rural fibre broadband provider Gigaclear has raised the prices of its plans by £4 ($5.20) per month. The firm's top two packages of 300 Mbps and 900 Mbps, which now cost £49 and £79 per month, include Gigaclear's Linksys router with Smart WiFi mesh system as standard under the revised pricing.

https://www.ispreview.co.uk/index.php/2019/11/rural-uk-isp-gigaclear-adds-100mbps-package-and-hikes-prices.html

Thursday, Nov 28th, 2019 (12:01 am) - Score 2,442 At a time when most broadband ISPs are discounting their prices for Black Friday it’s been spotted that one rural full fibre (FTTP) provider, Gigaclear, has done exactly the opposite. As well as introducing a new 100Mbps (symmetrical speed) tier and Mesh WiFi system, they’ve also hiked the monthly prices of their old plans by an extra £4. One other key difference is that their top two packages – 300Mbps and 900Mbps – now also bundle their Linksys broadband router with “Smart WiFi” (i.e. a mesh Wi-Fi system). Oddly this mesh system appears to be mandatory on their top two plans, although you can optionally add it to their slower packages at extra cost. The provider is also promising no mid-contract price hikes to those who sign-up to their new packages. Otherwise their plans all include unlimited usage, an 18 month contract term, Linksys router, £30 one-off activation fee and free installation. Superfast 30 Mbps – £39 per month Ultrafast 100 Mbps – £44 per month Ultrafast 300 Mbps with Smart WiFi – £49 per month Hyperfast 900 Mbps with Smart WiFi – £79 per month Credits to Stéphane for spotting. UPDATE 2:38pm: We’ve had a response from Gigaclear.

Wealthy investors' growing demand for sustainability suggests new investment trend

More than a quarter (27%) of high net worth individuals (HNWIs) said they were interested in sustainable products. Wealthy investors said they plan to allocate 41% of their portfolio to businesses actively pursuing environmental, social and corporate governance (ESG) policies by the end of 2021.

https://www.cnbc.com/2020/07/10/capgem-world-wealth-report-billionaires-invest-in-sustainability-esg.html?utm_source=Vogue+Business&utm_campaign=6004822ec5-EMAIL_CAMPAIGN_2020_07_06_10_50&utm_medium=email&utm_term=0_5d1e7914df-6004822ec5-58174660

The world's uber wealthy are increasingly putting their money towards socially, ethically and environmentally conscious businesses, which could spur the growth of sustainable investments. In Capgemini's World Wealth Report 2020, more than a quarter (27%) of high net worth individuals (HNWIs) — those with investible assets of $1 million or more — said they were interested in sustainable products. That figure rose to 40% among ultra high net worth individuals (UHNWIs), those with $30 million or more to invest. And, importantly, that interest is translating into action. Wealthy investors said they plan to allocate 41% of their portfolio to businesses actively pursuing environmental, social and corporate governance (ESG) policies by the end of the year. By the end of 2021, that figure is set to rise to 46%. Their top motivations included higher returns (39%); increased understanding of ESG products (29%); and a desire to give back to society (26%). Meanwhile their preferred areas of focus were environmental risks and climate change (55%); ethical governance systems (54%); and socially conscious business practices (52%). As awareness on environmental issues increases ... the appetite for ESG products has increased. Shinichi Tonomura managing director, Capgemini Financial Services (Asia) To be sure, the report — which studied more than 2,500 HNWIs across 21 major wealth markets — was conducted from January and February 2020, before the fallout of the coronvirus pandemic. However, Shinichi Tonomura, managing director of Capgemini Financial Services for Asia and Japan, said the increased interest likely spells good news for ESG as higher wealth bands tend to be "slightly ahead" of the curve for emerging investment opportunities. "As awareness on environmental issues increases and more mature products with better financial returns become available, the appetite for ESG products has increased," Tonomura told CNBC Make It. Sustainable investments outperform Despite the wider economic downturn this year, sustainable investments have managed to weather the storm reasonably well. According to the report, investors who implemented ESG equity investment strategies in 2020 beat broader benchmarks. Meanwhile, Morningstar found 70% of sustainable equity funds recorded returns in the top halves of their broad-based peer group in the first three months of the year. Luis Alvarez Tonomura said that robust performance could indicate ESG companies' superior ability to withstand crises. ESG companies are typically measured on a broader range of metrics, such as social responsibility, as well as financial returns. "In some ways, ESG scoring has also helped highlight firms who have more robust governance and other business policies to weather disruptions such as the present crisis," he added. In a separate report released last week, JPMorgan said that the pandemic could prove to be a "major turning point for ESG." Its survey of investors with combined assets of more than $13 trillion found that 50% thought Covid-19 could mark a positive move for ESG momentum over the next three years. Millennials lead the charge That new momentum could prompt wider adoption of sustainable investment products by general investors. Last year, Morgan Stanley found 80% of individual investors were interested in sustainable investing. Millennials aged 26 to 40 are likely to lead that charge, according to Tonomura, who said young people tend to be "more conscious about sustainability and sustainable consumption." Impossiable

UK warns of “catastrophic environmental threat” from hazardous Yemeni oil tanker

The tanker has the potential to cause an oil spill four times larger than the Exxon Valdez disaster in 1989. It would close the vital port of Al Hodeidah for up to six months and cost up to £16 billion to clean up. It would cause unprecedented damage to the surrounding Red Sea marine environment which is home to over 1200 species of fish, of which 10 per cent are only found in the Red Sea. Any spill would also devastate the livelihoods of nearly four million people, with fishing stocks taking 25 years to recover. The tanker is moored in Houthi-held territory off the west coast of Yemen.

https://www.gov.uk/government/news/uk-warns-of-catastrophic-environmental-threat-from-hazardous-yemeni-oil-tanker

The UK warned the UN Security Council today 15th July that the FSO SAFER oil tanker, which has 1.14 million barrels of crude oil on board, poses a devastating threat to the environment. Its poor condition means it is now close to leaking millions of gallons of oil into the Red Sea. The tanker is moored in Houthi-held territory off the west coast of Yemen, and the UN is seeking access for a mission to assess the tanker’s condition, conduct any possible urgent repairs, and make recommendations for the safe extraction of the oil. The tanker has the potential to cause an oil spill four times larger than the Exxon Valdez disaster in 1989, which involved 257,000 barrels of oil and the effects of which are still being observed over 30 years later. It would cause unprecedented damage to the surrounding Red Sea marine environment which is home to over 1200 species of fish, of which 10 per cent are only found in the Red Sea. Any spill would also devastate the livelihoods of nearly four million people, with fishing stocks taking 25 years to recover. It would close the vital port of Al Hodeidah for up to six months and cost up to £16 billion to clean up. If there was a spill, it would make responding to the already challenging humanitarian situation in Yemen even more difficult. Minister for the Middle East, James Cleverly, said: The FSO SAFER oil tanker is an environmental disaster waiting to happen and unless UN experts are allowed to access it, we are facing a catastrophic environmental threat. The Houthis cannot continue to hold the environment and people’s livelihoods to ransom. It is in everyone’s interests, especially the suffering people of Yemen, that this tanker is made safe immediately. We will continue to use our seat on the UN Security Council to do all we can to stand up for and protect the Yemeni people. Yemen is suffering from the world’s largest humanitarian crisis, with 24 million people - a staggering 80% of the population - in need of humanitarian assistance. This devastating situation is now being compounded by the rapid spread of coronavirus, with UK-funded modelling estimating that Yemen has already had over one million infections. Further information Follow the Foreign Office on Twitter @foreignoffice and Facebook Follow the Foreign Office on Instagram, YouTube and LinkedIn Media enquiries For journalists Email [email protected]

Tesla to offer motor insurance tailored to EVs

Tesla has reportedly entered the car insurance market with InsureMyTesla. The configuration and upgrade complexities of Telsa’s electric vehicles creates a mismatch with conventional insurance plans and has resulted in Tesla owners being charged too much or not being adequately covered. InsureMyTesla policies have several unique features; replacing any car less than 36 months old that has been written off with a brand new vehicle, covering any driver of the car as standard, and including covering damage to the Tesla Home Wall connector. The programme, available for Tesla vehicles only, will initially be launched in Australia and Hong Kong via partnerships with QBE Insurance and AXA General Insurance.

http://www.digitaltrends.com/cars/tesla-sells-car-insurance/

Tesla just opened a new profit center. Because the configuration and upgrade complexities of Tesla’s all-electric vehicles don’t seem to fit conventional insurance plans, Tesla has now entered the car insurance business, according to Electrek. The InsureMyTesla program will be available for Tesla vehicles only. At first, the insurance is going to be offered to Tesla owners in Australia and Hong Kong. In each country, Tesla is partnering with larger, traditional insurance companies that will underwrite the InsureMyTesla policies. In Australia, Tesla is partnering with QBE Insurance and in Hong Kong the underwriter is AXA General Insurance. Recommended Videos In the past, Tesla owners who have checked their policies have at times discovered they were being charged for vehicles with power and trim levels that differed from what they actually owned. Owners charged for greater levels would be paying too much money, while those charged for incorrectly lower levels wouldn’t have the coverage they needed. Tesla’s software-upgradeable features also apparently don’t fit into current insurance templates. For example, if you buy a Tesla Model S 60 with a 60kWh battery, the actual battery capacity in the car is 75kWh but it’s not accessible without an upgrade. You can turn it on by paying $9,000 for an upgrade, but a conventional insurer would have no way of knowing about the change. Autopilot can also be turned on at a later time by paying for an upgrade, which some insurers might view either more or less favorably depending on their understanding, experience, and underwriting policies for driver assistance features. The InsureMyTesla plan has several unique features. If a totaled vehicle is less than 36 months old, insured owners would get a new vehicle of the same model and series. Tesla Home Wall connector damage is covered. Owners can choose any authorized Tesla repair facility for fix damaged vehicles. The car is also insured for any driver. According to Electrek, Australia Tesla owners have been offered InsureMyTesla plans priced starting at $900 a year. The insurance industry in general, government regulators, and the automotive industry all expect that once self-driving cars become common the numbers of crashes and fatalities will be slashed. Driver error figures in 90 percent of all accidents today, according to the U.S. National Highway Traffic Safety Administration. We’re a few years off from seeing level 4 (mostly self-driving) and level 5 (totally self-driving) vehicles, but when they become common, insurance companies will need to make many adjustments. It makes sense for Tesla to get involved with car insurance as it strives to be a total mobility and energy solution. Editors' Recommendations

China&#39;s central bank injects record $83bn to avoid cash squeeze

The People’s Bank of China (PBOC) has put $83bn into the country’s financial system in an attempt to avert a cash squeeze that could further damage the economy. It sets a record for the biggest net single-day injection. PBOC said it was an attempt to guarantee sufficient funds in the system, which has been strained by mid-January tax payments and demand for cash ahead of February’s Lunar New Year holiday. China’s government has promised to continue taking action to support the economy during 2019 and to work harder to protect jobs threatened by the economic slowdown.

https://news.abs-cbn.com/business/01/16/19/china-cbanks-record-83-b-injection-heightens-worries-over-ailing-economy

SHANGHAI - China's central bank injected a record $83 billion into the country's financial system on Wednesday, seeking to avoid a cash crunch that would put further pressure on the weakening economy. China's policymakers are pledging to step up stimulus measures this year and do more to protect jobs as economic growth cools to 28-year lows. But a raft of measures last year from big rail projects to tax cuts seem to have had little impact so far, with recent data suggesting activity is cooling more quickly than expected. "The news is clear - the economy needs help," said Trinh Nguyen, senior economist for emerging Asia at Natixis in Hong Kong. Wednesday's open-market operation, the bank's largest net single-day injection on record, came a day after China's state planner, central bank and finance ministry all offered reassurances to investors, signalling more spending and other types of policy support. But shockingly weak December trade data released earlier this week, along with shrinking factory activity, are stirring speculation over whether more rapid and aggressive policy measures are needed to turn the world's second-largest economy around. Authorities now agree the economy needs more decisive support "and today's large injection reflects that," Nguyen added. The People's Bank of China (PBOC) said Wednesday's injection was aimed at ensuring there are ample funds in the financial system, which is facing strains as tax payments peak in mid-January, and as demand for cash picks up ahead of the Lunar New Year holidays starting in early February. "The banking system's overall liquidity is falling rapidly," it said in a statement. While sizable injections are common this time of year ahead of the long holidays, the addition was much heftier than usual and follows a large cut in banks' reserve ratios announced this month, which will free up a total of $116 billion for new bank lending. The first stage, a 50-basis-point cut, came into effect on Tuesday. An equal-sized cut is scheduled for Jan. 25. The move also came a day after money supply data showed several of China's key credit gauges continue to languish around record lows, despite government efforts to channel more funds to cash-starved companies and lower their financing costs. While authorities have urged banks to keep lending to struggling firms and even dangled incentives, banks are wary of bad loans after a long regulatory crackdown on riskier lending. Many businesses, facing slowing sales, are in no mood to make the fresh investments that Beijing is counting on. New medium- and long-term corporate loans last month fell to less than half of average December levels, Nomura noted. MORE HELP ON THE WAY Chinese officials have repeatedly pledged more support for the economy while vowing they will not resort to "flood-like" stimulus that Beijing has unleashed in the past, which quickly juiced growth rates but left a mountain of debt. Asked if the PBOC needed to cut benchmark interest rates, a PBOC deputy said on Tuesday that existing policy measures should be improved. Analysts at OCBC said the comments suggest the PBOC is willing to give existing measures time to work, and is in no rush to switch to more aggressive tactics at this point. "I have never seen such huge amounts of reverse repos ... the central bank is making its attitude known," said a trader at a brokerage house in Shanghai. "It's saying, 'don't question my determination'" to stabilize market expectations, the trader said. Markets appear to agree that policymakers will stick with modest measures for some time yet. Chinese stocks and money market rates, sensitive to hints of policy shifts, were little changed on Wednesday. The seven-day repo rate,, a closely watched measure of liquidity, was 2.6142 percent on Wednesday afternoon, slightly lower than the previous day's close. "While the (PBOC's) net injection is big, it's little versus what a rate cut would release, which is what people in the market are watching for," said Ken Cheung, senior Asian FX strategist at Mizuho in Hong Kong. WEAKEST GROWTH IN 3 DECADES In a rare encouraging sign, home prices remained buoyant in December, suggesting that at least some of Beijing's efforts at support are beginning to have an effect. Construction also appears to be slowly picking up as regulators fast-track approvals of more infrastructure projects. But analysts agree steps so far will take some time to percolate through the broader economy, with most not expecting activity to convincingly bottom out until summer. On Monday, China is expected to report the economy grew 6.6 percent in 2018, cooling from 6.9 percent the previous year and the slowest rate of expansion the country has seen in 28 years. The pace is expected to slow further to around 6.2 percent this year. Some analysts' in-house models suggesting activity is already much weaker than official data suggests. Darkening the picture further, hopes are dimming once again that China will be able to reach a trade deal with the United States in current negotiations. U.S. tariffs have increasingly weighed on Chinese exports in recent months, disrupting its supply chains and dragging down business and consumer confidence. U.S. Trade Representative Robert Lighthizer did not see any progress made on structural issues during U.S. talks with China last week, Republican U.S. Senator Chuck Grassley said on Tuesday. (Reporting by Winni Zhou and Andrew Galbraith in SHANGHAI and Kevin Yao in BEIJING, Additional reporting by Wu Fang and John Ruwitch in SHANGHAI and Noah Sin in HONG KONG; Editing by Richard Borsuk & Kim Coghill

RedT receives 9 storage unit orders in Asia

Jersey-based energy storage solutions firm redT energy has made its bow in the Asian market after taking an order for nine modular tank units with a combined capacity of around 0.6 MWh. Although the customer was not identified, the deal comprises four 30 kW-150 kWh machines and one five kW-20 kWh machine, all of which will be used as flexible platform assets after connection to the grid.

https://www.renewablesnow.com/news/to-the-point-redt-gets-order-for-9-storage-units-in-asia-591375/

redT energy plc (LON:RED) today announced a commercial order for nine energy storage units with a combined capacity of about 0.6 MWh from an unnamed customer in South-East Asia. The UK energy storage company, whose machines are based on vanadium redox flow technology, said the order marks its entry into the high-growth Asian energy storage market. The deal includes four 30kW-150kWh machines and one 5kW-20kWh machine, which is equivalent to nine redT modular tank units. The storage systems will be connected to the local grid and used as flexible platform assets, performing various services. Choose your newsletter by Renewables Now. Join for free!

Dispatch Track to use AI for dispatch optimisation

California start-up DispatchTrack is focusing on expanding in the global logistics market, which is forecast to be worth $15.5tn by 2023, after raising $144m in its maiden funding round. DispatchTrack developed a range of AI-backed services for drivers and customers, including route optimisation, omnichannel order tracking and bill settlement. The firm claimed to have made 60 million annual deliveries for more than 1,100 customers. Note from Dave: read the article again, where is the AI?

https://venturebeat.com/2020/05/12/dispatchtrack-raises-144-million-to-optimize-delivery-routes-with-ai/

Missed the GamesBeat Summit excitement? Don't worry! Tune in now to catch all of the live and virtual sessions here. Logistics startup DispatchTrack today announced it raised $144 million in the company’s first-ever financing round. CEO Satish Natarajan says it will be used to support product research and development, as well as business, segment, and geographic expansion. The logistics market is an increasingly attractive investment in light of the novel coronavirus pandemic. With customers either choosing or being mandated to stay at home, DispatchTrack says it’s seeing growth on the end-customer side as well as from ecommerce and brick-and-mortar stores. Even pre-pandemic, last-mile delivery was fast becoming the most expensive part of the supply chain, with research firm Capgemini pegging the percentage of costs at 41%. DispatchTrack was founded in 2010 by Satish Natarajan and Shailu Satish, a husband-and-wife team who focused on the furniture industry before expanding into building materials, appliances, food and beverage distribution, restaurants, field and home services, and third-party logistics. Their company now offers a range of services including route optimization, reservations, billing and settlement, and omnichannel order tracking. 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 DispatchTrack’s route optimization system allows users to control various delivery parameters, with a dashboard that presents optimizers for scheduling thousands of stops for hundreds of trucks. Calendar-based templates can be designed within DispatchTrack’s platform for upcoming holiday weeks and seasonal fluctuations to apply rules, constraints, and combinations of routing strategies to each order. DispatchTrack users can classify customers into tiers to ensure that they’re serviced promptly. And DispatchTrack’s Route Advisor gives every decision (including adding late orders) in the route editor a thumbs-up or a thumbs-down, determined by predicting whether the decision will improve costs, meet delivery time window constraints, or maintain arrival consistency. DispatchTrack offers a mobile app used by “thousands” of drivers that works offline and boasts features like proof of delivery. Clients can customize their terms and confirmation statements, as well as the documentation that indicates goods were accepted by end-customers. To prevent false liabilities, the app walks couriers through a checklist of steps, including snapping pictures (or recording videos) and noting dates and locations. And to meet regulations requiring that drivers be “satisfied” that delivery vehicle parts are in good working order, the app provides drivers the ability to fill out forms and store them for audit at any point in the future. On the customer side, DispatchTrack facilitates calls, texts, and emails to confirm delivery appointment times. (Companies who opt to do so can embed an order-tracking widget on their website.) On the day of scheduled deliveries, it allows drivers to push out calls along with live estimated time to arrivals, while at the same time letting customers call in to confirm their information. This all works in tandem with DispatchTrack’s reservation system, which streamlines the booking process. Customers are given a choice of appointments. As these appointments are booked, the system deducts from available capacity so that the next customer won’t see appointments that would result in overbooking. Capacity can be calculated at the service level or by geographic region (i.e., by ZIP code or geocoding), as well as via API, so that it can be connected to an existing point-of-sales system. Ony any given day, third-party apps written on top of DispatchTrack’s core data call the API 60 million to 80 million times. And in any given week, the company creates and maintains 2 million to 3 million new pieces of delivery-related content, such as picture and driver notes. DispatchTrack also handles billing, settlement, and social reviews to the extent that it offers programmable rules and allows the import of data via CSV. It automatically calculates things like fuel surcharge, making reports available in a timeline and optionally requiring managers to sign off on billing orders. And post-delivery, DispatchTrack can present customers with a survey and an option to post to Google Reviews directly from their phones. DispatchTrack competes with startups like FarEye, SourceDay, and Flock Freight in the global logistics space, which is anticipated to be worth $15.5 trillion by 2023. Uber offers a service called Uber Freight, to which it recently committed another $200 million as part of a major expansion. San Francisco-based startup KeepTruckin last year secured $149 million to further develop its shipment marketplace, and Next Trucking closed a $97 million investment. For its part, Convoy raised $400 million at a $2.75 billion valuation to make freight trucking more efficient. But DispatchTrack says it’s doing brisk business, with over 60 million deliveries a year for over 1,100 customers including Ryder, Mattress Firm, and Poolman. DispatchTrack is based out of San Jose, California, with a staff of 70 employees across offices in Charlotte, North Carolina, and Hyderabad and Mysore, India. In conjunction with its fundraising, which Spectrum Equity led, Spectrum’s managing director Vic Parker and VP Adam Gassin will join DispatchTrack’s board of directors. “We spent the last 10 years refining our product and service, and we have received validation from customers across industries and geographies,” said Satish. “Now, with Spectrum’s partnership, we are ready to scale and maximize the potential of DispatchTrack. We are excited about this new stage in our continued growth.”

Pinterest ranked No. 10 in Prophet's Top Brands in the US

Consultancy firm Prophet has released as part of their latest index the Top Ten Brands Consumers Can't Live Without. Pinterest ranked at number 10 in the Top US brands behind the likes of Apple, Disney and Amazon leading surveys on consumer inspiration and creative forms of engagement. It’s the only social platform to make the top ten list.

https://www.prophet.com/relevantbrands-2019/

0 4 Bose Quieting a noisy world More people in our Index say this brand has better products than its competitors, and of our top 10, it scores highest for living up to its promise. While that sterling reputation has been nurtured over five decades of superior sound, consumers choose Bose for its commitment to delivering quality products that are pervasively innovative. It melds high-quality audio with Wi-Fi and Bluetooth to make products that enable escape from our too-raucous reality. It soothes and surprises fans with the best noise-canceling headphones, noise-masking sleepbuds and Bose Frames – sunglasses that keep people close to their music, texts and virtual assistant.

Fujitech launches contact-free controlled elevators

Fujitech has rolled out contact-free controlled elevators that use infrared sensor technology to read a signals given by users hovering their hand over a dashboard. The model also features a congestion indicator to show how crowded an elevator is. Developed for hospitals and food manufacturers, the company claims it is receiving a growing number of enquiries from owners and managers of office buildings.

https://www.straitstimes.com/asia/east-asia/covid-19-gives-boost-to-touchless-tech-in-japan

TOKYO - Japan Inc is poised to ride the wave of anxiety over touching surfaces that has arisen with the coronavirus pandemic, as hygiene concerns fuel demand for touch-less technology. Japan owns about half the global market share in the sensors market, and Covid-19 has given contactless technology new impetus even if some of these were initially built with an eye to raising productivity and easing manpower concerns. The high-tech war against the coronavirus is taking centrestage with Prime Minister Shinzo Abe having declared a state of emergency in seven prefectures - Tokyo, Chiba, Saitama, Kanagawa, Osaka, Hyogo and Fukuoka - until May 6. Hokkaido announced its own emergency decree for a second time amid a second wave of cases, while Aichi, Gifu, Ichikawa and Kyoto have also declared their own states of emergency. The unfurling crisis has led Japan to boot up its latest supercomputer, Fugaku, the successor to the K Computer that was once the world's fastest, the Nikkei reported. While it is still under development, Fugaku will be used to find clinical treatments for Covid-19 from about 2,000 existing drugs, some of which are not being considered for clinical trials. Among the new technology that has been rolled out is what are branded as "elevators of enhanced public hygiene" by lift maker Fujitec. Launched on April 1, the model comes with an optional add-on contactless panel feature that taps infrared sensor technology to detect a user's destination floor when they hover their hands over the dashboard. This was targeted at hospitals and food manufacturers, but the company has reportedly been receiving an increasing number of inquiries from general office buildings. The new model also comes with basic functions like anti-bacterial lift buttons and a congestion indicator that shows how crowded an elevator is, which Fujitec said "will help users give consideration to social distancing". IT services conglomerate Fujitsu, meanwhile, is conducting a three-month field trial ending May 25, of a contactless, multi-biometric authentication and payment system. It has tied up with convenience store operator Lawson to open an outlet at its office at Fujitsu Shin-Kawasaki Technology Square that has no checkout counters.

WNBA teams taking innovation sponsorship approach

WNBA team's have long since realised the benefits of sponsorships, as team's generate proportionately lower revenues from TV deals, ticket sales, and merchandising compared to major league teams. Lyn Agnello, vice president of corporate partnerships for the Connecticut Sun states, 'the team depends on sponsorships for about 40 percent of its revenue.' These teams pride themselves on being affordable for fans and small business owners, displaying societal concern that you rarely see in major league sports sponsorships. There is a greater sense of loyalty and friendliness from these teams, who generate revenues while contributing to societal needs at the same time. 

https://frntofficesport.com/wnba-creative-partnerships/

When it comes to nailing down sponsorships, the WNBA has long been ahead of the curve. Nearly 10 years before the NBA started allowing teams to sell sponsorships for their jerseys, the Phoenix Mercury were already sporting LifeLock patches on their uniforms and now feature logos for Casino Arizona and Talking Stick Resort, as well as league sponsors Verizon and Nike. Since then, the rest of the league has jumped aboard, and the franchises have continued to involve their partners by displaying more logos on their jerseys and throughout arenas. Now, 10 of the 12 WNBA teams’ uniforms include the logo of their marquee sponsor. “You almost see that we’re the guinea pigs at times,” said Cay Young, director of corporate partnerships for the Los Angeles Sparks, who started with the Farmers Insurance logo on their jerseys in 2009 and have since transitioned to the life insurance company EquiTrust. “We’ve had the prominent logo placement on jerseys for around a decade, and it’s been a great asset for us in getting exposure for companies.” Much of the WNBA’s innovative sponsorship approach is driven by pure necessity. In a league where TV deals, ticket sales, and merchandising may not bring in the same revenue that other professional leagues enjoy, sponsors open new revenue streams for the WNBA. According to Lyn Agnello, vice president of corporate partnerships for the Connecticut Sun, the team depends on sponsorships for about 40 percent of its revenue. The key to success in the sponsorship realm is to have something that sets the team apart, according to Young and Agnello. “Like anything to do with sales, companies are bombarded daily with sales inquiries from many sources of sales folks wanting to sell advertising and partnership opportunities,” Agnello said. “So, [from] sending something from the team to get their attention, to having a player call the CEO, we try to separate our approach.” “The Lakers are a high-investment value, and not everyone can afford that,” Young added. “We pride ourselves on being affordable for fans and small business owners. A lot of companies need to get their foot in the door, and then they stick with us.” READ MORE: What Goes Into Executing Sponsorships at the Olympic Games Carlissa Henry, senior vice president of marketing partnerships for the Mercury, emphasized the importance of teaching potential sponsors about what the WNBA can offer them. “We educate our partners that we’re a thriving league with a different demographic,” said Henry, who is also in charge of sponsorships for the Suns and their G League affiliate. “We’re family friendly, and there is strong loyalty among our fans who support the brands that sponsor the team.” When searching for sponsors, the teams take into consideration how a company may fit with their core values. Young discussed the Sparks’ partnership with their marquee partner, EquiTrust. “[EquiTrust is] a company with a lot of women executives,” she said. “They really believe in what we’re doing, they believe in the product… It is culturally relevant right now to get behind a variety of cases that stem from women and LGBTQ.” [mc4wp_form id=”8260″] “We want the company to have some association within Arizona so there’s that commitment in terms of employees and consumers,” Henry added. “We’d like them to share the same values — forward-thinking, integrity, respect, accountable for the goals of the organization.” Once the teams lock down sponsors, they turn their focus toward planning various programs and events. Together, the Sparks and EquiTrust offer a financial literacy program called Driven2Hoop, which educates underprivileged youth in Los Angeles on weekly budgeting, debt management, credit responsibility and other financial tools. “We see a lot of companies that use us for exposure but also for the impact and meaning,” Young said. “We are the communities we serve, so we offer community-enriched sponsorship packages.” The Sparks also come together with their sponsors to offer game day initiatives with themes like Pride, mental health, military service and breast health awareness. They even partner with Nike to present Sneakerhead Night, which taps into Los Angeles’s vibrant sneaker community. “We work with the presenting sponsor so they’re braided into every part of the evening, so when you walk in, you see them right away,” Young said. “I think the great thing is, as partnerships grow, it allows us to do out-of-the-box activations.” Executing a sponsorship activation is a comprehensive effort that requires cooperation from the entire team, according to Henry. Staff members from departments like community relations, public relations, and game operations are all involved to help it run smoothly. “There is lots of collaboration, and we’re really fortunate to work with every single other vertical from a company standpoint,” Henry said. [mc4wp_form id=”8260″] Despite all that goes into the job, Young concluded that forming strong relationships with sponsors comes down to generating excitement and creating a connection between the team and the company. “We look to tell our story through [the sponsor’s] current consumers and employees,” she said. “And my job is to take our fans’ passion for the Sparks and WNBA and direct that passion to the brand.”

Manchester United have made a tactical change for Jadon Sancho

It is no secret Jadon Sancho is viewed as the perfect Manchester United target in the summer transfer window.United will hope this is just the beginning, with Wan-Bissaka's new attacking freedom an essential component in Sancho's possible impact as Solskjaer looks to form a new right-wing partnership which Sir Alex Ferguson would have loved.

https://www.manchestereveningnews.co.uk/sport/football/transfer-news/man-united-sancho-wan-bissaka-18202754

Sign up for our daily newsletter to get the day's biggest stories sent direct to your inbox It is no secret Jadon Sancho is viewed as the perfect Manchester United target in the summer transfer window. In an ideal world Ole Gunnar Solskjaer's side would already be closing in on a deal for the Borussia Dortmund winger ahead of the next window after years of admiring him from afar, but those plans will have to wait amid the ongoing pandemic. United were keen on signing Sancho upon his exit from Manchester City in 2017 and, after three years of patiently waiting, they are now finally ready to pounce. Club officials first began drawing up a list of summer targets in February and Sancho is at the top of the list. The wider global concerns mean transfer negotiations have had to take a backseat for the time being but United fans shouldn't be too worried.. Another few months of waiting shouldn't hurt them in the pursuit of the England international - after all, they've already made a tactical change ready for his arrival. Solskjaer is a sucker for nostalgia and he knows every great United side needs an iconic No.7 playing on the right wing. Sancho is the ideal player fill such a role at Old Trafford - but the manager knows his success depends just as much on the man behind him. Aaron Wan-Bissaka is already the best defensive right-back in England, if not Europe, with his tenacity the perfect springboard for Sancho to build upon with his own attacking threat. But, if United really want to get the best out of a new right winger they know more support is needed on his flank. That is why both Wan-Bissaka and club coaches have been working tirelessly to bring out the biggest attacking threat in the right-back they can. "I think that process has been going in the right direction,” said Wan-Bissaka of his attacking development back in March. “I've had help from the team and the coaches, showing me the way forward." The way forward is both metaphorical and physical for the 22-year-old who had been staying behind at Carrington to take part in extra training sessions to improve his attacking threat. Since the turn of the year there has been a notable change, with his assist for Anthony Martial against Chelsea the pay-off for his dedication to improving the offensive side of his game.. United will hope this is just the beginning, with Wan-Bissaka's new attacking freedom an essential component in Sancho's possible impact as Solskjaer looks to form a new right-wing partnership which Sir Alex Ferguson would have loved. Paul Ince might have articulated his point badly last week, but he is right that reputation alone won't guarantee success for Sancho should he move to Old Trafford this year. In order to get the best out of Sancho, United need a right-back who overlaps regularly, is available to link up with and who can allow Sancho the freedom to drift inside whenever he wants to. United acknowledge it will likely take a club record fee to lure Sancho away from Borussia Dortmund but Wan-Bissaka would provide Sancho with the best possible platform to prove it would be money well spent.

Jerry Stiller, Comedian With Enduring Appeal, Is Dead at 92

In the 1960s, he and his wife, Anne Meara, found success as a comedy team. In the 1990s he found it again as Frank Costanza on &#x201C;Seinfeld. In 2012, he said: "The only time you ever stop working is when they don&#x2019;t call you"

https://www.nytimes.com/2020/05/11/obituaries/jerry-stiller-seinfeld-dead.html

To hear more audio stories from publishers like The New York Times, download Audm for iPhone or Android. Jerry Stiller, a classically trained actor who became a comedy star twice — in the 1960s in partnership with his wife, Anne Meara, and in the 1990s with a memorable recurring role on “Seinfeld” — died early Monday morning at his home on the Upper West Side of Manhattan. He was 92. His death was announced on Twitter by his son, the actor Ben Stiller, who did not specify the cause. Mr. Stiller’s accomplishments as an actor were considerable. He appeared on Broadway in Terrence McNally’s frantic farce “The Ritz” in 1975 and David Rabe’s dark drama “Hurlyburly” in 1984. Off Broadway, he was in “The Threepenny Opera”; in Central Park, he played Shakespearean clowns for Joseph Papp; onscreen, he was seen as a police detective in “The Taking of Pelham One, Two, Three” (1974) and Divine’s husband in John Waters’s “Hairspray” (1988). But he was best known as a comedian. The team of Stiller and Meara was for many years a familiar presence in nightclubs, on television variety and talk shows, and in radio and television commercials, most memorably for Blue Nun wine and Amalgamated Bank.

South Africa's First National Bank offers biometrics ATMs

First National Bank in South Africa has launched an ATM called TouchPoint that uses biometrics to validate customer's identities. CEO Lee-Anne van Zyl said the mini-ATM scanned fingerprints and verified the user with the Department of Home Affairs. Customers can use the machines for withdrawals, transfers, payments, statements and to open new accounts. Fifty TouchPoints will open in the next six months and the aim is to install them in branches, community retailers and rural areas throughout the country. She said the technology was becoming more widespread so adopting it was an important step in making banking more accessible.

https://it-online.co.za/2018/05/07/biometric-atms-extend-banking-services/

FNB has launched a mini-ATM that uses biometrics as a means of consumer validation, a move the bank believes is a first for South Africa. The TouchPoint device functions as a self-service kiosk from which customers can conduct transactional banking such as withdrawals, transfers and payments, view statements, purchase airtime and electricity and perform card cancellations. It can also be usesd to open new accounts. Lee-Anne van Zyl, CEO of FNB points of presence, says: “The TouchPoint validates a customer’s identity by scanning a fingerprint placed on the biometric reader and it can detect false fingerprints to prevent fraud. The identity of the customer is then verified with the Department of Home Affairs to ensure the self-service account opening complies with the relevant laws.” The TouchPoint device has been successfully piloted in Gauteng since November 2017. The aim is to place the devices in branches, community retailers in townships and rural areas across South Africa. A total of 50 TouchPoint devices will be introduced in select townships during the next six months. “The introduction of biometric validation on self-service devices is an important step to making banking much more accessible to South African communities. As the use of biometric technology becomes more pervasive in the everyday life of customers, it’s important to use this technology to accelerate access to banking services,” says van Zyl. “This is a continuation of our journey to broaden financial inclusion and we believe that digital platforms play an important role in that regard. In particular, this innovation allows us to advance our partnership with small businesses in local communities to enable affordable banking for customers at community retailers,” she adds.

SCF Group signs time charter contract with Shell for LNG Aframax

SCF Group has signed a time charter contract with Shell for two liquefied natural gas (LNG)-powered Aframax tankers. The 114, 000 dwt vessels will operate within the Anglo-Dutch multinational's worldwide freight network for up to 10 years. Each will be built to Ice Class 1A hull notation to enable all-season export operations from the Baltic. Evgeny Ambrosov, senior executive VP of SCF, said the deal showed the two companies were "leading the development and adoption of LNG as a fuel within the tanker industry". Bloomberg Terminal copy: Fuelling Good: More ships are considering LNG as bunker alternative 2018-02-28 02:09:50.900 GMT Shell sealed long-term time-charter deals with Sovcomflot for two LNG-fuelled aframax tankers, currently under construction, last week. Shell will provide fuel for these ships using its own LNG bunkering infrastructure. ExxonMobil, Total, and Statoil have also embarked on LNG bunkering plans in Asia and Europe. The number of LNG-powered ships that are not LNG carriers, both in service and on order, has reached the 200 mark as of Mar 2017, out of which 13 are chemical/product tankers. (LNG World Shipping) The International Maritime Organization (IMO) has set the sulphur limit in fuel oil used on board ships (for vessels operating outside the Emission Control Areas [ECAs]) at 0.5% m/m on and after 1 Jan 2020, down from the current limit of 3.5% m/m. The sulphur limit in the ECAs will remain at 0.1% m/m content. Ships can meet the requirement by using low-sulphur compliant fuel oil, alternative fuels like LNG, LPG, methanol, and ethanol, or by installing scrubbers or exhaust gas cleaning systems on board. (Waterfront Shipping will time-charter in four dual-fueled methanol carriers in 2019; refer to Asset Market section, pg 5.) -0- Feb/28/2018 02:09 GMT

http://www.tankeroperator.com/news/two-scf-lng-fuelled-aframaxes-fixed-to-shell/9439.aspx

Two SCF LNG-fuelled Aframaxes fixed to Shell The SCF Group has signed timecharter contracts with Shell for two dual-fuelled newbuilding Aframaxes for up to 10 years per vessel with a minimum commitment of five years. This so called ‘Green Funnel’ series of Ice Class, 114,000 dwt, LNG-powered Aframaxes will operate within Shell’s global freight trading network. The vessels will also use Shell’s specialist LNG bunker vessels, such as the ‘Cardissa’, for fuelling in Northwest Europe. Shell will provide further supply points across Northwest Europe and the Baltic, as it expands its LNG fuelling infrastructure. These contracts represent the next step in collaboration between SCF and Shell over the last three years regarding the reduction in the environmental footprint of the tanker industry, in particular, by fuelling tankers with LNG, SCF said. The new charters follow the LNG fuel supply agreement concluded between Shell and Sovcomflot last year, which pioneered the expansion of marine LNG fuelling into the tanker industry and, in general, for vessels not tied to fixed routes or set timetables. Each tanker will be built to Ice Class 1A hull notation, enabling year-round export operations from the Baltic. The technical specifications for these new vessels were developed by SCF’s engineering centre, with the close involvement of Hyundai Heavy Industries and Russian shipbuilders (Zvezda shipbuilding complex, Primorsk region). The vessels’ main engines, auxiliaries, and boilers will be dual fuel, capable of using LNG, and the vessels will also be fitted with selective catalytic reduction (SCR) technology to comply with Tier III regulations governing NOx emissions when in gasoil fuel mode. Commenting on the charters, Evgeny Ambrosov, senior executive vice president of SCF Group, said: “Together, SCF Group and Shell are leading the development and adoption of LNG as a fuel within the tanker industry, committed to significantly reducing the environmental footprint of energy shipping. “After proper experience of operating LNG-fuelled vessels, SCF Group will share its feedback on their performance with Zvezda shipbuilding complex, a Russian facility that is envisaged to commence the domestic construction of such large-capacity LNG-fuelled tankers by 2021.” Mark Quartermain, Shell Crude Trading’s vice president, added: “LNG fuel will play a fundamental role in the future energy mix. Chartering and fuelling these vessels highlights Shell’s commitment to LNG as emissions standards tighten. We look forward to continuing to build upon our strong relationship with SCF to support our trading operations in key areas.”

TalkTalk Swish Fibre bags &pound;250m funding

Swish Fibre has said £250m ($327m) of funding secured after it was bought by Fern Trading will help it “transform” full fibre broadband access across the UK, with initial plans covering at least 250,000 premises in the South East. Swish, founded in 2018, acquired Code Powers earlier in 2019 and plans to use Openreach PIA ducts and poles, together with a new ducted network, for its service, with plans to begin work in Q1 2020.

https://www.prnewswire.co.uk/news-releases/swish-fibre-funding-unlocks-ps250m-investment-in-uk-full-fibre-and-job-creation-814734318.html

LONDON, Dec. 17, 2019 /PRNewswire/ -- Swish Fibre Ltd has today announced a long-term funding deal that unlocks its ambitious plans to transform full-fibre broadband access in the UK and help boost the nation's coverage levels from 34th position to number one in the world rankings. Swish Fibre funding unlocks £250m investment in UK full-fibre Rob Skinner, Octopus with Brice Yharrassarry CEO of Swish Fibre, signing their new agreement supported by their respective teams. (PRNewsfoto/Swish Fibre) Work will now commence on the build of Swish Fibre's first state-of-the-art 10 Gigabit per second full-fibre network, enabling 250,000 properties in the Home Counties to enjoy world leading speeds. Initially focussing on locations within commutable distance from London, further announcements about specific build locations will be made public soon. Fern Trading Limited ("Fern"), advised by Octopus Investments ("Octopus"), has acquired Swish Fibre. With growth plans that will see investment in excess of £250m over the next few years, Swish Fibre is now poised to create vital UK infrastructure to serve the data consumption needs of future generations. These plans will also generate a significant volume of new jobs over the next decade. Swish Fibre is an established Openreach Communications Provider and obtained Code Powers earlier in 2019. During the build phase, Swish Fibre will use a combination of Openreach PIA ducts and poles, along with a newly-built ducted network to deliver its full-fibre broadband service. Plans are on track to be 'breaking ground' during the first quarter of 2020. Sharing the same customer-centric vision with Fern, Swish Fibre is now extremely well placed to realise its 'beyond broadband' vision for better connected people, businesses and services across the UK. Swish Fibre was advised in this transaction by Cameron Barney. Brice Yharrassarry, CEO of Swish Fibre, said: "We are delighted that Fern, advised by Octopus, has agreed to acquire Swish Fibre and to support our agreed roll-out plans to bring fibre optic broadband to hundreds of thousands of new customers across the Home Counties." Paul Latham, CEO of Fern, said: "Swish Fibre has exciting plans to invest into the infrastructure of local economies in the UK and provide a substantial upgrade to the digital connectivity of communities. It's a perfect match for Fern, which has a track record of backing experienced management teams to turn such ambitions into reality and provide long term stable returns for its investors." Robert Skinner, Investment Director at Octopus, commented: "We're looking forward to working with the Swish Fibre team as they build fibre networks over the coming years for customers who are crying out for better broadband." About Swish Fibre Swish Fibre is a full-fibre broadband provider based in London, England. The company was founded in 2018 to build 1 Gbps+ FTTP networks to help people work, surf and play beyond the limitations of today's broadband network. The Swish Fibre team brings together extensive experience in infrastructure development and consumer ISP retailing. Brice Yharrassarry, CEO, has a track record of substantial value creation in the renewable energy sector as a founder of Akuo Energy. The senior management team previously worked in ISP management, telecommunications and construction roles with Gigaclear, RM, BT, SSE Telecoms and UK Power Networks. For more information, please visit swishfibre.com. About Fern Fern Trading Limited began operations in 2010 and has grown to become the parent company of a large trading group. This group now comprises more than 200 companies with business interests spread across the UK in renewable energy, healthcare and fibre broadband. Fern operates in sectors that are making a valuable contribution for the long term and is currently the UK's largest producer of solar energy from commercial-scale sites. Visit ferntrading.com for more information. About Octopus Octopus is a group of innovative, entrepreneurial businesses investing in the people, ideas and industries that will help to change the world. We are experts in financial services and energy, transforming these markets by offering our customers access to smart and simple solutions that do what we say they will. Today we manage more than £8.3 billion on behalf of retail and institutional investors. Octopus Energy, Octopus Investments, Octopus Renewables, Octopus Real Estate, Octopus Ventures, Octopus Wealth and Seccl Technology are all part of Octopus Group. Visit octopusgroup.com. Photo: https://mma.prnewswire.com/media/1056332/Swish_Fibre_Funding.jpg Related Links http://swishfibre.com SOURCE Swish Fibre

Yemen was facing the world’s worst humanitarian crisis. Then the coronavirus hit

Yemen reported its first COVID-19 case on 10 April in a port town. Official numbers remain low: As of May 27, the country had 253 cases and 50 deaths. The United Nations is running out of cash as donations from member countries dry up. Official case numbers remain low: As of 27 May, the country had reported 253 cases and 50 deaths. That’s hard to square with reports of mass graves being dug in Aden, the capital. On 21 May, Doctors Without Borders reported at least 68 people had died from the virus at its facility in Aden alone, and that scores more were dying at home.

https://www.sciencemag.org/news/2020/05/yemen-was-facing-worlds-worst-humanitarian-crisis-then-coronavirus-hit

Science 's COVID-19 reporting is supported by the Pulitzer Center. When Abdulla Bin Ghooth saw the computed tomography scan of the lungs of a colleague's brother in Aden, Yemen, in April, he knew the outlook was grim. The 55-year-old man had complained of a fever and shortness of breath, and likely had COVID-19. But hospital staff, afraid of the novel coronavirus, sent him home with an oxygen cylinder, says Bin Ghooth, an epidemiologist at Hadhramout University College of Medicine. He pleaded with friends at the ministry of health to intervene, to no avail. The colleague's brother was never tested for COVID-19 and died at home 3 days later. Perhaps no country is more vulnerable to COVID-19's depredations than Yemen. Even before the virus' arrival, the country was grappling with "the largest humanitarian crisis in the world," as a result of a civil war now grinding into its sixth year, says Jens Laerke, a spokesperson at the United Nations Office for the Coordination of Humanitarian Affairs. Yemen has 3.6 million internally displaced people, scores of attacks have left half of the nation's medical facilities in tatters, and a cholera outbreak has sickened some 2.3 million Yemenis, killing nearly 4000. The United Nations classifies nearly one-quarter of the population of 30 million as malnourished. And now, after staging massive aid operations in Yemen over the past few years, the United Nations is running out of cash as donations from member countries—busy battling COVID-19 on their own turf—dry up. "Tragically, we do not have enough money to continue" the relief work, the heads of the World Health Organization (WHO), UNICEF, and other U.N. agencies write in an urgent call to donors issued today. "COVID-19 could be the straw that breaks the camel's back," says Abdulwahed Al-Serouri, technical adviser to the Yemen Field Epidemiology Training Program run by the health ministry in Sana'a. The United Nations and Saudi Arabia are cohosting a virtual pledging event on 2 June. If that fails to drum up support, Laerke warns, "The world will have to witness what happens in a country without a functioning health system battling COVID-19. I don't think we'll want to see that." Yemen reported its first COVID-19 case on 10 April in a port town in Hadhramout governorate; authorities closed schools days later, and mosques posted signs asking people to pray 1 meter apart. Official case numbers remain low: As of 27 May, the country had reported 253 cases and 50 deaths. That's hard to square with reports of mass graves being dug in Aden, the capital. On 21 May, Doctors Without Borders reported at least 68 people had died from the virus at its facility in Aden alone, and that scores more were dying at home. In Sana'a, the former capital where Houthi rebels, aligned with Iran, have set up their own government, the rebel health ministry has so far reported just four COVID-19 cases. But Al-Serouri says there are unofficial reports of hundreds of laboratory-confirmed cases. The rival health ministries in Aden and Sana'a "each accuse the other of lying about the extent of COVID-19 in the areas they control," says Hakeem Al-Jawfy, a critical care and respiratory specialist at Al Thawra Modern General Hospital. Altaf Musani, an epidemiologist who heads WHO's office in Yemen, says one problem is that official tallies only reflect severely ill patients in COVID-19 isolation wards. People with mild or moderate symptoms—not to mention asymptomatic individuals—are simply not getting tested. The fuse for a calamity has been lit. "We have at least nine clusters showing active transmission in the south," Musani says. Earlier this week, during a monthlong ceasefire in much of the country, revelers celebrating Eid, the festival marking the end of Ramadan, thronged markets. "Many people are going about their lives unconcerned and unaware of danger," says Abdul Rahman Al-Azraqi, a physician and former hospital manager in Taiz. Based on modeling by a group at Imperial College in London, WHO is bracing for the novel coronavirus to infect about half of Yemen's population and kill an estimated 30,000 to 40,000. But the toll could be much higher if the United Nations can't replenish its coffers. Last year, the agency spent $4 billion on humanitarian efforts in Yemen. Nearly halfway into 2020, it has received only $700 million. "Of 41 major UN programs in Yemen, more than 30 will close in the next few weeks if we cannot secure additional funds," today's letter from U.N. agency heads says. "This means many more people will die." Oh, it's so sad. The political and security situation has eviscerated the country. Mustafa Al'Absi, University of Minnesota Yemen is facing the crisis after a conflict-driven brain drain hollowed out its ranks of doctors and scientists. In 2011, the Arab Spring stoked a revolution that ended the 33-year rule of President Ali Abdullah Saleh. Fighting broke out in March 2015. Yemen "took a hard hit at the start of the war," says Hilal Lashuel, a neurobiologist at the Swiss Federal Institute of Technology Lausanne who left Yemen in 2005. "Many Yemeni scientists fled. I don't believe there's any serious research activity now." "Oh, it's so sad. The political and security situation has eviscerated the country," says Mustafa al'Absi, a Yemen-born neuroscientist at the University of Minnesota who led a National Institutes of Health–supported project in Yemen on mental health and substance abuse until 2014. Deprived of government subsidies, hospitals have sought to prop themselves up by charging more, which put medical care out of reach for poorer patients. Before 2011, people had to pay at most 10% of the cost of procedures, Al-Jawfy says. "Now they pay 100%." Humanitarian groups have provided basic medicines such as adrenalin, and some protective equipment, Al-Jawfy adds. But his hospital's MRI machine hasn't worked in 4 years, he says. He contends that Saudi customs officials seized a shipment of spare parts on the grounds they could be used in missiles. "Most of our ventilators are out of order. No spare parts," he adds. Only 157 of Yemen's 500-odd ventilators are working, Laerke says. WHO has worked to bring into Yemen more ventilators, intensive care unit beds, and other critical supplies as part of its effort to expand the number of COVID-19 isolation wards from 38 to 59 nationwide. And WHO has provided 8400 test kits—a down payment on the estimated 9.2 million kits the organization forecasts the country will need. The government in Sana'a now has a COVID-19 advisory committee that includes representatives from the Yemen Field Epidemiology Training Program, which is also staffing a new COVID-19 hotline. However, notes Nasser Zawia, a Yemen-born pharmacologist at the University of Rhode Island, Kingston, "There is no Tony Fauci of Yemen," referring to the head of the U.S. National Institute of Allergy and Infectious Diseases. One asset in the battle against COVID-19 is a legacy of Yemen's attempts to quell its cholera outbreak, the largest ever recorded. To run down leads and rumors of suspected cholera cases, the United Nations trained rapid-response teams in all of Yemen's 333 districts. These health care workers, Musani says, are "playing a pivotal role" against COVID-19, sleuthing for suspected cases, contact tracing, and getting samples back to labs in Aden, Mukalla, Say'un, and Sana'a for virus testing. "They're the real heroes," Musani says, adding that the United Nations now aims to double the number of rapid-response teams. This small army on the front lines of Yemen's existential crisis has its work cut out for them. "Tackling COVID in Yemen," Lashuel says, "is almost mission impossible." *Update, 2 June, 7:15 p.m.: At the virtual pledging event today, 29 countries and the European Commission pledged a total of $1.35 billion to support humanitarian efforts in Yemen. That figure represents just over half of the amount needed to sustain programs through the end of this year.

Cameroon drone start-up eyes global market

Cameroonian drone start-up Will & Brothers is eyeing global expansion. William Elong, 25, founded the company with a key project called Drone Africa, which offers unmanned aerial drones for civil purposes to the Cameroonian state, businesses and elsewhere. The devices can fly for up to 20 km (12 miles) and be used in agriculture, cartography and other sectors. Will & Brothers has capital of $200,000 from Western backers and the support of Cameroon's government, but Elong hopes to eventually raise $2m for further expansion.

https://phys.org/news/2018-03-cameroon-startup-drones-global.html

A young engineer works on making a drone entirely built in Cameroon at the Will & Brothers company premises in Douala Talking fast and dreaming big, William Elong shows off the first "made in Cameroon" drone at his sixth-floor workshop in downtown Douala, minutes from the economic capital's Atlantic seafront. The 25-year-old, known as a high-flyer after being named one of Forbes' most promising young Africans under 30, is enthusing about his new unmanned aerial drones and keen to promote his company and Africa as a place where IT and new tech can flourish. We must "get out of the Afro-centric vision of business" to "understand that when one has a global vision, worldwide, this includes Africa," Elong says in a discussion of future technologies. Elong has no degree in IT or robotics but studied strategy and competitive intelligence in France, becoming the youngest-ever graduate from Paris' Economic Warfare School. He founded his startup Will & Brothers in 2015 with a main project called Drone Africa, which aims to provide drones for civil purposes to businesses, the state in Cameroon and elsewhere. With a top range of up to 20 kilometres (12 miles), the drones can be used for purposes as different as cartography, media coverage, support for agriculture and detecting gas in mines to reduce the risk of accidents. "The know-how is here, in Cameroon," says Elong, who is aware young African talent often seeks employment in Europe and elsewhere. He says at this stage his firm's capital of $200,000 (162,400 euros) has come from Western backers. Also supported by the government of President Paul Biya, Elong hopes eventually to raise $2 million to expand the business but he regrets that "not many Africans are involved" in the project, which features two airborne types of drone and one terrestrial model. The commercial market in Africa is expanding with unmanned aircraft already whizzing across the skies delivering items like medicine and food, and even helping farmers sow seeds. 'Flying wing' In Rwanda, drones get medical supplies such as blood and vaccines to remote areas. Tanzania is launching a similar programme. And drones equipped with night-vision cameras help to detect and track poachers in Kenya, Namibia, South Africa and Zimbabwe. Elong presents the two airborne prototype models on a table inside his assembly shop. The first "flying wing that we've baptised Algo" has the furthest range and could prove an economical solution to the costly task of making maps, he suggests. Three drone makers at work in the plant run by William Elong, 25, who aims for a Cameroonian entry into the market for pilotless aircraft The second type, known as Logarythm, has four arms forming a propeller, can reach an altitude of up to 500 metres (1,640 feet) and is fitted with high-definition cameras, which would be useful in high-risk zones and for precision work, Elong adds. Crucially, he argues, manufacturing costs are lower than those of foreign manufacturers, so the drones produced will be priced competitively across the African marketplace. He envisages "selling drones to Vietnam, to Venezuela, to Denmark for example, and becoming one of the biggest global enterprises in this sector." Elsewhere, two young engineers in white lab coats are carefully building a prototype. "When all the components are available, we are able to assemble a drone like this in 24 hours," says engineer Louis Ekani. Some of the parts are made in Cameroon, while others are supplied from abroad. 'The pride of Cameroon' "The start was extremely complicated," says young technical director Yves Tamu, who is described on the company website as an entrepreneur, digital champion and inventor. "But we have a dynamic, autonomous and state-of-the-art team thanks to which we found the solution (to assembling drones)." The average age of employees is barely 22 and the team comprises mainly engineers and developers who have spent two years building airworthy drones. "Will & Brothers is the pride of Cameroon," gushed Minister of Posts and Telecommunications Libom Li Likeng at a government ceremony to present the drones in early February. Their design demonstrates "the innovative capacity of Cameroonian youth", she added. Elong's firm is represented in Ivory Coast and plans to open offices in France and the United States, but he stresses the development of artificial intelligence is his primary goal. Will & Brothers has worked on an AI known as Cyclops, which enables drones to detect people, objects and vehicles and to identify different types of animal at specific sites. "Artificial intelligence is the future of humanity," Elong says, confident that Africa can at least try to compete with the big tech giants in California. "It knocks me out that so many people here take no interest in technology." © 2018 AFP

Holden and Kia remove&nbsp;ads from YouTube as part of Google boycott

Car manufacturers Kia and Holden are the latest brands to suspend their advertising from Google after marketers' content appeared next to extremist or controversial videos on the YouTube site. Brands including Walmart, Starbucks, Pepsi and Johnson & Johnson are among more than 250 US, and UK companies who have suspended their ads on the site. Google, owned by Alphabet, has raced to solve the situation. "While we recognise that no system will be 100% perfect, we believe these major steps will further safeguard our advertisers' brands and we are committed to being vigilant," a spokesperson has said.

http://www.afr.com/business/media-and-marketing/advertising/holden-and-kia-pull-ads-from-youtube-as-google-boycott-widens-20170326-gv6lad

"We value our good relationship with Google but in line with General Motor's global response and Holden's diversity stance we have instructed our media agency to temporarily suspend all advertising on YouTube until we are confident Google can protect our brand from inappropriate or offensive content. We'll work closely with our partners at Google to achieve this." A Bunnings spokeswoman declined to comment. A JB Hi-Fi spokesman noted they were aware of the issue and had a watching brief, but it was an immaterial portion of their advertising spend. The series of videos by one YouTube user centred around a men's rights movement known as MGTOW (Men Going Their Own Way) – a group of straight men who will not date women and believe feminism has ruined society. One included an edited segment from Ten Network's Studio 10 that showed an interview with controversial author Peter Lloyd, who wrote the book Stand by Your Manhood. The video insults the Ten hosts, including calling former Australian of the Year Ita Buttrose a "hag". Holden and Kia have joined the YouTube boycott. AP Another video is titled "'Feminism A Mental Disease MGTOW". Advertisement Over the last week and a half a number of major brands across the globe have pulled advertising from Google's YouTube after their brands appeared before or next to videos promoting extremist material and hate speech. Brands to take action include two of America's biggest telecommunications companies AT & T and Verizon, Walmart, Johnson & Johnson, Starbucks and Pepsi. The Google boycott started in the United Kingdom when The Times revealed the UK government, and many major brands, had their ads next to extremist content, hate preachers and anti-Semitic material. The government subsequently pulled its advertising. The extent of the problem for Google is so large many have found examples of Google's own advertising being pre-rolled to racist videos. Last week, in response to an exodus of advertisers from YouTube, Google announced it would be revamping its ad policies to tackle the issue. A Google spokeswoman on Sunday said: "We don't comment on individual videos but as announced, we've begun an extensive review of our advertising policies and have made a public commitment to put in place changes that give brands more control over where their ads appear. Advertisement "While we recognise that no system will be 100 per cent perfect, we believe these major steps will further safeguard our advertisers' brands and we are committed to being vigilant and continuing to improve over time." The saga underlines the perils that come with digital advertising where brands have little control over where and when their ads are served, because they often make a purchase across a wide variety of content, or across a network of websites. The issue doesn't pertain only to Google. In the past, brands have unwittingly appeared on piracy websites such as The Pirate Bay. Advertising is one of the major sources of revenue for Alphabet, Google's parent company. The boycott highlights a growing concern about brand safety, particularly in digital advertising, where having oversight over all content is difficult, especially on user-generated content sites such as YouTube. Google will be keen to fix the problem as soon as possible. The problem for the San Francisco-based technology giant is the ads are automatically served and keeping on top of the hundreds of hours per minute uploaded to YouTube is difficult.