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SCE procures 770 MW battery storage to replace gas plants in 2021

Southern California Edison (SCE) has contracted 770 MW/ 3.06 GWh of battery storage spread across seven projects to be brought online by August 2021 to replace grid capacity provided by four natural gas-fired power plants. Only one of the battery projects – LS Power's 100 MW/400 MWh Gateway 1-2 – will be standalone, with NextEra Energy Resources, Southern Power and TerraGen Power all connecting new batteries to solar farms. The largest will be NextEra's 230 MW/930 MWh project, co-located with the 250 MW McCoy solar farm. The projects will help SCE reach a California target to add 3.3 GW of decarbonised resources.

https://www.greentechmedia.com/articles/read/southern-california-edison-picks-770mw-of-energy-storage-projects-to-be-built-by-next-year

Southern California Edison has signed seven contracts for a combined 770 megawatts of grid battery projects, one of the biggest single procurements of its kind. The utility wants to switch them on by August 2021, which would be a record-fast turnaround for projects of that magnitude. The seven energy storage projects, which still need approval from the California Public Utilities Commission, will help meet a fall CPUC order for 3.3 gigawatts of carbon-free resources to help meet the state’s grid reliability needs. Half of that solicitation is due online by August 2021, and SCE must deliver the largest share among the state’s utilities and community-choice aggregators (CCAs). Most of the winning projects will be co-located with existing solar farms that will charge the batteries, making them useful for integrating and smoothing the intermittency of the state’s growing share of renewable generation, as well as providing resource adequacy for times of peak demand in the late afternoons and evenings. That’s needed to replace grid capacity provided by four natural-gas-fired power plants on the Southern California coast that use seawater for cooling and have been ordered to close as soon as possible to reduce their environmental impact. SCE's single 770-megawatt procurement "tops the entire 2019 U.S. storage market by more than 200 megawatts," said Daniel Finn-Foley, head of energy storage for Wood Mackenzie Power & Renewables. The consultancy expects the U.S. storage market to grow sevenfold from 2019 to 2021. "The storage market is approaching a deployment acceleration over the next two years that will be unprecedented in recent U.S. electricity history," Finn-Foley said. NextEra Energy Resources will build three of the SCE projects, which are also the largest of the seven selected by the utility. Those include a 230-megawatt/920-megawatt-hour project connected to NextEra’s 250-megawatt McCoy solar farm, and two projects of 115 megawatts/460 megawatt-hours apiece adjacent to NextEra’s two Blythe Solar Energy Center solar farms. All are located in Riverside County. The McCoy storage project is among the largest being developed by NextEra, just behind its 250-megawatt/1-gigawatt-hour system connected to its 250-megawatt Sonoran Energy Center in Arizona. It’s also the second-largest being built in California, behind the 300-megawatt/1.2-gigawatt-hour Moss Landing project to be built by Vistra Energy for Pacific Gas & Electric. NextEra, North America’s leading wind and solar generator, has been seeking opportunities to add storage to its existing renewables fleet to take advantage of the falling battery costs. Southern Power, a subsidiary of U.S. utility Southern Company, will develop two projects in California’s Central Valley connected to solar farms it owns: the 88-megawatt/352-megawatt-hour Garland project connected to a 200-megawatt solar farm in Kern County, and the 72 megawatt/288 megawatt-hour Tranquility project connected to a 200-megawatt solar farm in Fresno County. The final project is Terra-Gen Power’s 50-megawatt/200-megawatt-hour Sanborn project in the Mojave Desert. That project will be interconnected with a solar project now in development by Sanborn Solar, meant to provide 300 megawatts of solar generation and up to 3 gigawatt-hours of storage capacity. The sole project that won’t be interconnected with existing solar is LS Power’s 100-megawatt/400-megawatt-hour Gateway 1-2 battery system in San Diego County. LS Power has also developed the 40-megawatt Vista battery project in Southern California, and is developing plans for up to 250 megawatts of energy storage at the Gateway site. The storage projects face a tight deadline to line up financing, order batteries and other specialized equipment, complete construction and start providing capacity to the grid by SCE’s stated completion date of August 1, 2021. The California Energy Storage Association and storage companies are asking the CPUC for permission to expedite the process for reviewing and approving the projects, warning that they might fail to secure financing without it. Massive battery farms are expected to become an increasingly central asset for California’s grid as the state pushes toward its goal of getting 100 percent of its energy from carbon-free resources by 2045. SCE’s “Pathway 2045” roadmap for hitting that goal envisions $170 billion of investment in clean energy generation and energy storage by 2045 and up to $75 billion more for grid upgrades to accommodate the shift to electrifying power transportation, heating and other sectors now reliant on fossil fuels. Other large-scale projects announced in California in the past year include the 100-megawatt/400-megawatt-hour system being built by sPower for Clean Power Alliance, a community-choice aggregator serving the greater Los Angeles area, and up to 300 megawatts/1.2 gigawatt-hours of storage being built alongside 400 megawatts of solar power being built by 8Minute Energy for municipal utility Los Angeles Department of Water and Power. WoodMac's Finn-Foley noted that these projects represent "a perfect lesson in the flexibility of energy storage’s value. PG&E’s Moss Landing procurement plans to use standalone storage to target a transmission-constrained area," while LADWP and SCE are both seeking storage to allow for the possibility of closing the coastal natural gas plants, he said. Still, "the SCE procurement is unique so far in California — both massive in scale and scattered throughout four counties across SCE’s sprawling territory to target local system needs."

Socially-conscious funds’ assets to top $2tn by 2025, PwC says

ESG funds, which markets themselves as focusing on investing with strong environmental, social and governance (ESG) principals, are among the fastest-growing areas in the investment world, with about $1.2 trillion of assets at the end of last year.Many investors want ESG principals in their funds as they believe it can generate superior financial performance by mitigating reputational, operational and financial risks, PwC said in a new global asset and management report.While ESG may be one of the hottest acronyms in the asset management world, many such funds are not as green as investors might expect.

https://www.irishtimes.com/business/financial-services/socially-conscious-funds-assets-to-top-2tn-by-2025-pwc-says-1.4079578?mode=amp

Assets managed in funds that promote socially-responsible investing are growing at an annual rate of 8.5 per cent a year and set to reach $2.08 trillion (€2.88tn) by the middle of the next decade, as investors become more conscientious about where their money is put to work, according to PwC. ESG funds, which markets themselves as focusing on investing with strong environmental, social and governance (ESG) principals, are among the fastest-growing areas in the investment world, with about $1.2 trillion of assets at the end of last year. Many investors want ESG principals in their funds as they believe it can generate superior financial performance by mitigating reputational, operational and financial risks, PwC said in a new global asset and management report. A PwC survey found that ESG is one of the top three priorities of investors surveyed, behind considerations over the macroeconomic and political issues and risk-return considerations, but ahead of fees. The research found that just as corporations’ ESG records are being scrutinised by analysts and rating agencies, it’s now a fundamental priority for big investment firms across the globe. READ MORE “As clients continue to align their personal interests and values with how they invest their money, ESG investing is now a must have, not a nice to have option when constructing an investor’s portfolio,” said Olwyn Alexander, PwC’s global asset and wealth management leader, who is based in Dublin. Responsible Last week, Irish Life announced – as part of Climate Finance Week Ireland 2019 – that it was converting its entire €15 billion book of assets under discretionary control to a responsible investment approach that will "explicitly consider" ESG factors. Euronext Dublin, formerly the Irish Stock Exchange, also used the week to launch a new green bond hub out of Dublin for debt listed on its exchanges across Europe that adhere to certain environmental and sustainable principles. While ESG may be one of the hottest acronyms in the asset management world, many such funds are not as green as investors might expect. Eight of the 10 largest US sustainable funds hold investments in oil and gas companies, which are regularly slammed by environmental activists, according to a Wall Street Journal report on Monday. While most top ESG funds exclude gun makers, casino operators and tobacco groups, they have been slow to reduce their exposure to fossil fuels, which can sometimes be at odds with the language of their promotional documents, according to the report.

How Football Clubs Are Embracing The World of eSports

The rise of online gaming has seen a surge in popularity of football games. Clubs have had to find other ways of keeping fans engaged. This includes computerised games of chance and virtual events. Several big European clubs now have their own eSports team and employ their own professional gamers.

https://worldfootballindex.com/2020/04/how-football-clubs-are-embracing-the-world-of-esports/

Absence makes the heart grow fonder, and the thirst for football across the globe is ever increasing, with fans eager to drink up anything their club puts out. Whether that is a live game, social media content, or ground tours, supporters want to feel more connected to their club than ever before. The world of instant news and reaction has brought supporters closer to bigger clubs, but with news almost old as soon as it breaks, clubs have had to find other ways of keeping fans engaged. Squawka explained how a competition played on FIFA 20 recently captured a much wider audience, as teams from England and Europe competed. But for fans following eSports, this is not a new phenomenon. Nor is the ever-increasing digital representation of football, as it has influenced a huge number of games across a myriad of platforms, which in turn has brought in fans from different genres of entertainment not usually associated with the sport. This includes an increase in the use of computerised games of chance and virtual events. Foxy Games has a number of dedicated football slot titles including Football Star and Football Champions Cup which use the sport as a base to appeal to both sports and online gaming fans. These types of games have seen a surge in users, as have the likes of FIFA, Pro Evolution Soccer, and the popular Football Manager series who saw an opportunity to offer a free trial to new customers during the lockdown. Due to the rise of the digital version of the beautiful game, several big European clubs now have their own eSports team, dedicated to representing their heroes digitally at competitions around the globe. Professional gamers are now being employed by Europe’s top clubs, with gamers inextricably linked with the club’s they support. Mohammed ‘MoAuba’ Harkous won the 2019 eWorld Cup wearing the shirt of his favourite side, Bundesliga club Werder Bremen. Other big clubs across Europe already have eSports teams. FC Barcelona competes in eFootballPES, the rival of FIFA. In Germany, Wolfsburg, Borussia Mönchengladbach and Bayer 04 Leverkusen take part in the Bundesliga Home Challenge. In England, teams such as Manchester City and West Ham have their own official players, representing them at major tournaments. Jas Singh went from armchair FIFA player to a professional in just a couple of years with West Ham, a journey he describes as ‘crazy’. He started qualifying for the weekend league on the game and it snowballed from that point on. Speaking on the official West Ham site he said: “I just decided to take it by the scruff of the neck and started putting my everything into it, qualifying for event after event. I’ve qualified for, I think, six or seven FUT [FIFA Ultimate Team] Champions Cups in the last two, two-and-a-half years – I love it.” He’s since travelled all over the world, to the US and across Europe, representing the Hammers on the world stage. “It’s crazy,” Jas admitted. “To finish in the top 16 in the whole of Europe and qualify, you’ve got hundreds of players at the highest level fighting, basically going to war, for those spots.” The eSports phenomenon is on the rise, with some clubs such as Barcelona even putting teams into other games loosely based on the game, such as the car/football hybrid Rocket League. With viewing figures always on the rise, it offers a great chance to grow their brand as much as anything. Even as far down as the third tier of English football is being influenced by eSports, with Lincoln City recently advertising for players to represent them on FIFA. Whilst it may not quite be a mainstream entertainment source just yet, with the backing of big clubs, and Lincoln, it could soon be the niche way you can support your team without going to their home ground.

Big Data Privacy and Security Issues in Agriculture

Precision agriculture practices and tools allow users to collect extremely large amounts of data which commentators are highlighting as a potential security threat. Issues can be mainly seen in the context of sharing, security and ownership. Unfortunately, in terms of regulation, agriculture does not yet have any protocols in terms of security and privacy of data, a loop that leads farmers to negotiate with ag-tech companies on their own terms.

https://www.challenge.org/knowledgeitems/big-data-privacy-and-security-issues-in-agriculture/

By Maria Onofrio Owing to the rapid growth of precision agriculture technologies and tools, the usage and relevant collection of data in agriculture has become one of the most important topics for farmers, companies, policymakers, and researchers in the past years. Precision agriculture practices and tools allow users to collect extremely large amounts of data (big data) from multiple variables at differing time-scales. Improved practices of data collection within agriculture presents multiple benefits. Farmers can better manage their crops and increase their yields, and consequently their profits, by having the ability to collect and analyse more information about their operations. Since the producer can also review past performances of strategies, this encourages better management decisions and resultant optimisation that in turn allows growers to produce more using less resources. A range of startups now promise to introduce farmers to the latest software solutions that will maximize efficiency and productivity in their farm space, but with this technological burst many commentators are highlighting increased security around big data. Issues can be mainly seen in the context of sharing, security and ownership. Unfortunately, in terms of regulation, agriculture does not yet have any protocols in terms of security and privacy of data, a loop that leads farmers to negotiate with ag-tech companies on their own terms. Based on the Privacy and Security Principles for Farm Data, a consensus established by various parties in the agriculture industry, the terms of negotiations and principles should be transparent regarding the data technology can collect, and said systems should only collect data with the affirmative and explicit consent of the producer. These principles also recommend that transactions between producers and companies be governed by contracts, in which specific terms should be clearly defined in an understandable way. According to the Environmental Defense Fund (EDF), one of the main requests farmers have, would be the process of anonymizing data, meaning that the information collected should be separated from any personal information such as name and location. Considering the benefits that the collection of information can bring to producers, it is worrying to think that a considerable amount of growers are not investing in technology simply because of a lack of formal standards in privacy and security. One of the panels for our agricultural workshop, AG40, will look into topics such as this through the context of big data, and will work towards better understanding and exploring the issues underlying this challenge, and how we can, as an industry, find appropriate solutions. More information on the workshop can be found here, including speakers, attendees and workshop topics. As a challenge, big data is extremely volatile, and it will be an issue we will continue to look at. Make sure to sign up or follow us on social media to keep up to date with our exclusive insights from this field.

Southern New Hampshire U to launch online competency-based Masters

Southern New Hampshire University (SNHU) and K12 are partnering to launch an online programme offering a Master's degree in online teaching. The competency-based, modular syllabus focuses on online and blended learning for elementary and secondary education levels. It can be undertaken at the student's own pace, and includes features such as projects in real-world contexts. The programme will initially be available to students of both SNHU and K12, before eventually being offered elsewhere.

https://campustechnology.com/articles/2017/10/26/southern-new-hampshire-u-to-launch-competencybased-masters-in-online-ed.aspx?admgarea=news

Distance Learning Southern New Hampshire U to launch Competency-Based Master's in Online Ed Southern New Hampshire University (SNHU) is teaming with a private partner to launch a competency-based master's of education in online teaching program. The new program will consist of training modules and three to six graduate-level micro-credential programs that can be combined to earn a full master's degree in education with a focus on online and blended learning in elementary and secondary education. The self-paced program will also feature projects set in real-world contexts. The university is teaming up with online and blended learning provider K12 and will offer the courses to the company's teachers and those of its partner school, before eventually making the program available to others. "SNHU works with companies and community organizations in a variety of fields to provide pathways to education for employees," said Paul LeBlanc, president, SNHU, in a prepared statement. "We look forward to working with K12 to better study the best practices of their teachers to meet the needs of today's students and educators in the online learning environment." "The partnership will begin," according to a news release, "with an in-depth research component to identify best practices in online education and inform program development." "This alliance will be rooted in research," said Stuart Udell, K12 CEO, in a prepared statement. "The program brings to bear the best-in-class resources of both organizations to create performance benchmarks, deliver teacher training and map out career pathways for current and future generations of online educators."

Trials of new microbial seed treatments show 20% increase in corn yields

Bio-stimulant microbial seed treatment trials have demonstrated up to 20% increases in corn yield under moderate drought conditions. Seed producer DuPont-Pioneer and crop design firm Evogene reported positive results to their second-year trials, although a third successful year of testing is needed before commercialisation can be initialised. The use of bio-stimulants, which enhance crop aspects such as nutrient intake, growth or crop yield and quality, is on the rise as more conventional chemical and synthetic methods are scrutinised for their impact on the environment.

https://www.calcalistech.com/ctech/articles/0,7340,L-3729431,00.html

Seed producer DuPont-Pioneer and crop design company Evogene Ltd. achieved positive results in their second-year field trials for the development of microbial seed treatments for the improvement of corn yield, Evogene announced Wednesday. The trials are part of a multi-year collaboration between the companies, announced in July 2017. For daily updates, subscribe to our newsletter by clicking here. Established in 2002 and based in Israel, Tel Aviv-listed Evogene uses computational predictive biology to develop novel crop strains and pesticides. The current trials, which still need a third successful year to initialize commercialization, test bio-simulant microbial seed treatments based on Evogene’s previous work. Corn. Photo: Shutterstock Bio-stimulants are organic materials or organisms that do not provide nutrients, like fertilizers, but instead enhance aspects like nutrient intake, growth, stress tolerance or crop yield and quality. Use of bio-stimulants is on the rise, as more traditional chemical and synthetic products are being scrutinized for environmental impact, and tightening regulation turns the industry towards naturally sourced, more sustainable solutions. An October 2017 report by market research company MarketsandMarkets Research Private Ltd. valued the global bio-stimulant market at $1.79 billion in 2016 and estimated it would reach $3.29 Billion by 2022. Row crops like corn are expected to be a major growth driver in the market, the report said, especially in developing regions in Asia Pacific and South America, which are areas with a significant increasing trend in drought propensity according to a 2017 article published in the academic journal Water Resources Management. Evogene's current trials demonstrated up to 20% increases in corn yield under moderate drought conditions, the company said in its statement. Moderate drought refers to areas where damage to crops can be expected due to the low levels of rain, or the decreasing stream, reservoir, and well water levels. "Even though Evogene’s Ag-Biologicals division was initiated only in 2015, we have already made significant progress, as shown by these positive results," said Evogene President and CEO Ofer Haviv. "I am confident that this progress will lead us within the coming years to the commercialization of multiple potent and efficient bio-stimulant seed treatments and other ag-biologicals products.” Evogene also has an internal bio stimulant program focused on wheat yield, which is now moving forward to second-year field trials following positive first-year results, the company stated.

GSAM buys Rocaton in bid to expand advisory services

Goldman Sachs Asset Management (GSAM) is buying Rocaton Investment Advisors as it attempts to increase its advisory and discretionary services for institutional clients. The addition of defined contribution plans – currently accounting for $1.5bn in client assets – will be a major boost to GSAM’s advisory business, with approximately a third of Rocaton’s $600bn in assets under advisement coming from its own plans. Rocaton and its 65 employees will stay in Norwalk, Connecticut and continue to work under its name. The deal is anticipated to close by the end of June. Terms remain undisclosed.

https://www.pionline.com/article/20181107/ONLINE/181109904/gsam-to-acquire-rocaton-investment-advisors?newsletter=investments-digest&issue=20181107#utm_medium=email&utm_source=newsletters&utm_campaign=pi-investments-digest-20181108#cci_r=274374

Goldman Sachs Asset Management agreed to acquire Rocaton Investment Advisors in a bid to expand its advisory and discretionary services for institutional clients. Rocaton had more than $600 billion in assets under advisement as of Sept. 30. The firm and its entire staff will remain in Norwalk, Conn., and will continue to operate under the Rocaton name, a Goldman spokesman said. The transaction is expected to close in the first half of 2019. Terms were not disclosed. "Rocaton's team brings deep industry expertise and value to our growing platform, which will allow us to offer more holistic and customized services to our clients," Timothy O'Neill and Eric Lane, co-heads of the consumer and investment management division at Goldman Sachs, said in a joint statement. Rocaton offers advisory and discretionary investment services to various institutional clients, including insurance companies, endowments, foundations, health-care companies, retirement plans and financial intermediaries. With the acquisition, GSAM will significantly boost its advisory business with defined contribution plans, which currently represents $1.5 billion in client assets, a Goldman spokesman said. About one-third of Rocaton's $600 billion in AUA is from DC plans, a Rocaton spokesman said. "We think one of the many attractive aspects of this deal is the size of Rocaton's defined contribution business, which will complement GSAM's large presence in the defined benefit space," a spokesman at Rocaton wrote in an email, adding that the firm has about 65 employees. About two-thirds of Rocaton's assets under advisement are in defined contribution, defined benefit and voluntary employee beneficiary association plan assets. On the outsourced CIO side of its business, Rocaton had about $12.5 billion in discretionary assets as of Sept. 30, a Rocaton spokesman wrote. Last year, GSAM acquired the strategic partnership portion of Verus' OCIO business, which represented about $21 billion in assets under supervision. Goldman Sachs' consumer and investment management division had about $1.5 trillion in assets under supervision as of Sept. 30.

Nigel Broadhurst resigns post as joint MD of Iceland

Nigel Broadhurst has resigned as joint MD of Iceland Foods. His departure follows founder and exec chair Malcolm Walker and CEO Tarsem Dhaliwal taking control of the company. Broadhurst has also resigned his post as a member of the board of Iceland Topco.

https://www.thegrocer.co.uk/movers/iceland-joint-md-nigel-broadhurst-resigns/646363.article#:~:text=Iceland's%20joint%20MD%20Nigel%20Broadhurst,filed%20documents%20at%20Companies%20House.

Iceland’s joint MD Nigel Broadhurst has stepped down after more than five years in the post. Broadhurst resigned on 10 July as director of both Iceland Foods and Iceland Topco, according to newly filed documents at Companies House. It comes a month after Iceland founder and executive chairman Malcolm Walker and CEO Tarsem Dhaliwal took full ownership of the frozen food chain, buying investment firm Brait’s 63% share in Iceland Topco. “Nigel Broadhurst has stepped down from the boards of Iceland Topco and Iceland Foods following the recent buyout that returned the business to 100% ownership by Sir Malcolm Walker, Tarsem Dhaliwal and their related parties,” an Iceland spokesman confirmed. Broadhurst had been a director of both companies since 2012. He was Iceland’s buying director before becoming joint MD alongside Richard Walker. He is current chair of the British Frozen Foods Federation, a post he is due to hold until at least November this year. His resignation from Iceland also comes months after the business confirmed it was reviewing its management structure. A spokesman said in February the aim was to “ensure that we are running our business as efficiently and economically as possible”. Broadhurst has spent much of his career at Iceland, first starting as a buyer in 1983. After a seven-year stint away from the frozen food chain, at Hibernia Foods, Kwik Save and Somerfield, he returned in 2005 at the request of Malcolm Walker, who had also just returned to the business he founded. BFFF CEO Richard Harrow recently credited Broadhurst with being an “instrumental” figure in shaping the frozen food industry. “Nigel has incredible focus and the ability to be highly creative and innovative, as demonstrated by the many market-leading initiatives he’s spearheaded,” Harrow said earlier this year. Broadhurst is most closely associated with Iceland’s overarching Power of Frozen campaign, but has also been credited with launching the first own-label ranges of prepared frozen food in the market. He was ranked number two in The Grocer’s recent Frozen Power List.

Oreo is the latest brand to use AR in Pokemon Go style game

Oreo has developed an augmented reality (AR) mobile gaming app "The Great Oreo Cookie Quest" in partnership with Google. The game, created by The Martin Agency with the help of Carat and Gravity Jack, gives users clues to find virtual Oreos, with points and prizes such as Google Play points or Pixel phones. Players can compare scores with friends on Facebook and Twitter via a leaderboard. The game launched in the UK at the end of January on iOS and Android platforms. It is due to be rolled out across Europe, Russia, Latin America and possibly the US.

https://digiday.com/marketing/oreo-hopes-see-pokemon-go-success-scavenger-hunt-ar-game/?utm_medium=email&utm_campaign=digidaydis&utm_source=uk&utm_content=180216

More brands are developing their own augmented reality experiences, as the expense and technical ability needed to produce them have decreased and the desire for mobile entertainment has grown. Oreo is the latest, building its own mobile gaming app called “The Great Oreo Cookie Quest,” which engages users with a virtual scavenger hunt. Oreo’s game gives users clues to find virtual Oreos in the world around them. Using object-recognition technology, the app can detect whether an object is correct and reveal hidden Oreos. For example, a daily clue like, “What puts hands on your wrist?” will prompt users to scan their watch, revealing an Oreo on their phone’s screen. Each virtual cookie is assigned a point value based on how difficult the clue is, and in a leaderboard, users can see how they compare to their friends on Facebook or Twitter, as well as users around the world. Users can scan real Oreos to enter a sweepstakes to win a trip to either Google’s headquarters in California or a trip to Africa.

Patent office's broad patents allow for abuse of system

Rothschild Connected Devices Innovations was issued a patent by the Patents Office, which covers any system where a remote server transmits a product preference to a product via a communication module. This allows the company to sue any company that have remotely controlled devices which are connected to the internet, they have already sued ADT, Cisco, Protect America, OnStar, and Rain Bird.

https://www.eff.org/deeplinks/2015/08/stupid-patent-month-drink-mixer-attacks-internet-things

Imagine if the inventor of the Segway claimed to own “any thing that moves in response to human commands.” Or if the inventor of the telegraph applied for a patent covering any use of electric current for communication. Absurdly overbroad claims like these would not be allowed, right? Unfortunately, the Patent Office does not do a good job of policing overly broad claims. August's Stupid Patent of the Month, U.S. Patent No. 8,788,090, is a stark example of how these claims promote patent trolling. A patent troll called Rothschild Connected Devices Innovations, LLC (“RCDI”) owns a family of patents on a system of customizing products. Each of these patents stems from the same 2006 application. The idea is simple: connect some kind of product mixer to the Internet and allow users to make custom orders. The application suggests using the system to make beverages or shampoo. Here’s how the application describes the invention: The system and method of the present disclosure enables a user, e.g., a consumer, to customize products containing solids and fluids by allowing a server communicating over the global computer network, e.g., the Internet, to provide product preferences of a user to a product or a mixing device, e.g., a product or beverage dispenser. Even in 2006, this was a spectacularly mundane idea. The application did not disclose any new networking technology. Nor did it reveal any new beverage-making technology. It just connects a product mixer to the Internet. Any claim to such a humdrum combination should be found invalid as obvious. All of the patents in this family are pretty silly. But it get worse. RCDI’s most recently granted patent, U.S. Patent No. 8,788,090, includes an extremely broad claim. Claim 1 purports to cover any system where a “remote server” “transmits” a “product preference” to a product via a “communication module.” This is madness. RCDI is effectively claiming to have invented the idea of remote configuration … in 2006. Even if other claims in this patent family are valid (something we doubt), the Patent Office should never have allowed this claim. Taking an extremely broad view of this patent claim, RCDI has sued a collection of companies, including ADT, Cisco, Protect America, OnStar, and Rain Bird. It seems that any company that sells products that connect to the Internet is at risk. For example, in its complaint against ADT, RCDI states that a system that allows customers to “remotely customize the operation” of a “thermostat” infringes its patent. Having supposedly invented an online beverage mixer, RCDI is now asserting its patent against the entire Internet of Things. Even though it traces priority back to a 2006 parent application, this month's stupid patent is not the product of some earlier, less diligent, era at the Patent Office. The “continuation” application that led to this patent was filed in March 2013 and the patent issued in July 2014. This illustrates how applicants use the continuation process (which allows them to file an unlimited number of new applications based on a previous patent application) to try to get ever broader claims issued. Too often, once the Patent Office issues one patent in a family, examiners are overly lenient allowing continuation applications. This month’s winner likely would have never issued if the examiner had diligently applied KSR v. Teleflex’s prohibition on obvious combinations. There will be no prize for guessing where RCDI has filed all of its litigation: the Eastern District of Texas. We recently explained that the Eastern District is the venue of choice for trolls. Its unique, plaintiff-friendly rules make it easier for trolls to use the cost of defense to extort settlements, even when the underlying case is weak. We need broad patent reform to stop abusive patent litigation. We need litigation reform (including venue reform) that makes patent trolling less attractive. We also need reform at the Patent Office so that it doesn’t issue terrible patents like this in the first place. Contact your representative and tell them to pass patent reform.

Foreign-ownership cap for Vietnam payment firms dropped 

The State Bank of Vietnam has abandoned its plan for a 49% foreign-ownership cap on domestic e-payment companies. The central bank has decided not to submit its proposal to the government following strong opposition from the financial technology sector, which is reliant on foreign investment to fund expansion. Fintech in Vietnam received more than $410m of investment between January and September 2019, raising concerns at the regulator about financial security and overseas influence. The decision will prove beneficial to many firms that have already taken on heavy investment from overseas.

https://kr-asia.com/vietnam-drops-proposed-49-foreign-ownership-cap-in-e-payment-firms?utm_campaign=Asia%20Tech%20Review&utm_medium=email&utm_source=Revue%20newsletter

After much debate, and facing opposition from industry stakeholders, the State Bank of Vietnam has dropped the proposed 49% foreign ownership cap in locally registered e-payment firms In a note on its website, the central bank said it will not submit the proposal to the government in June after taking into account the feedback provided by entities in the fintech industry. The suggested cap was previously part of a revised decree to regulate non-cash payment activities. And fintech experts have said that a limit in foreign ownership would hinder the country’s developments in the field. The central bank’s move to relax this requirement comes as a surprise, as it normally adopts a cautious approach to fintech regulations compared to its counterparts in other ASEAN countries. The regulator has been concerned about Vietnam’s financial security and the encroaching influence of overseas entities in e-payment companies operating within the country. Investors have poured significant amounts of money into Vietnam’s fintech sector recently—at least USD 410 million between January and September last year, according to a report by UOB, PwC, and the Singapore Fintech Association. This is second only to Singapore, where funding totaled USD 714 million. The report also noted that Vietnam’s mobile payments market is projected to reach USD 70.9 billion by 2025. This new development is considered a relief for fintech firms, as many of them have already received huge amounts of foreign capital. Momo bagged USD 100 million from Warburg Pincus last January. VNPAY reportedly secured a record USD 300 million in funding from SoftBank and Singapore sovereign wealth fund GIC in 2019. And Ant Financial, the fintech powerhouse from China, acquired a major stake in Vietnamese e-wallet player eMonkey last summer. To date, the State Bank of Vietnam has licensed 32 companies that provide e-payment solutions. The government has mapped out a national financial strategy to increase the number of non-cash payments by 20–25% by 2025.

Turkey to launch 1 GW distributed solar tender in December

Turkey will introduce a 1 GW solar tender in December 2019, with plans to award projects between 10-50 MW in 39 provinces. The scheme is designed for smaller capacity projects in areas with high solar radiation and good conditions for renewable energy. With a deadline for bids in April 2020, the auction follows the cancellation of a 1 GW tender for three large solar projects at the beginning of the year.

https://www.renewablesnow.com/news/turkey-preps-for-next-1-gw-solar-tender-677419/

Turkey plans to launch in December its next solar tender, in which it will seek to award 1 GW of capacity across smaller projects in a limited number of provinces, deputy energy minister Abdullah Tancan has announced. The deadline for bids will be in April 2020, Tancan said at an event organised by the Association of Solar Energy Investors (GÜYAD) earlier in November. The plan is to award between 10 MW and 50 MW in 39 provinces with high solar radiation and good conditions for renewable energy development. More details on the rules will be known next month. At the start of this year, Turkey cancelled a tender for three big solar projects with a combined capacity of 1 GW. This was its second big solar tender under the Renewable Energy Resources Zones (YEKA) programme. The first one in 2017 was won by the Kalyon - Hanwha Group consortium. Just recently it was announced that China Electronics Technology Group Corporation has replaced Hanwha as Kalyon Enerji's partner in the project, which, in addition to the power generation capacity, has a local manufacturing capacity component. Turkey is also designing new incentive mechanisms for renewable energy after 2021. More information will likely be available in 2020, Tancan said. Choose your newsletter by Renewables Now. Join for free!

Pakistani media blackout for former prime minister’s return

The return of former Pakistani Prime Minister Nawaz Sharif to Lahore from London, where he is to be sentenced to ten years for corruption, has sparked the deployment of 10,000 police in the city. Shipping containers have been placed on main roads to block protesters moving to the airport while Pakistan’s media regulator has warned against media companies airing footage of his return. Sharif alleges the military is aiding a “judicial witchhunt” against him and his party through these strategies; The military deny interfering in modern-day politics and plan to place 371,000 soldiers around polling stations for the general election.

https://www.economist.com/asia/2018/07/14/nawaz-sharif-returns-to-pakistan-and-jail

SITTING stony-faced at the back of a business-class cabin on an Etihad flight from London to the Pakistani city of Lahore, Nawaz Sharif waited patiently for his arrest on the evening of July 13th. His only sign of stress was a balled-up napkin in his right fist. Journalists ignored the pleas of cabin staff to stay in their seats. They clustered around the former prime minister of Pakistan and jabbered reports into smartphones held out on selfie-sticks. Mr Sharif sat still. To his left his 44-year-old daughter, Maryam, occasionally adjusted her white veil. At last around a dozen camouflaged paramilitary police in red berets boarded the plane. Those who reached Mr Sharif first paused by his seat. Supporters yelled from economy class. Mr Sharif slowly rose. A week earlier Pakistan’s National Accountability Bureau (NAB), an anti-graft court, had sentenced Mr Sharif, in absentia, to ten years in prison for corruption in connection with the purchase of luxury apartments in London’s Park Lane by members of his family. It had also given a seven-year sentence to Maryam. Many thought he would stay in London, where his wife, Kulsoom, is on a ventilator after treatment for throat cancer. When he did decide to return, just 12 days before a general election, there was much speculation that his flight might be diverted to Islamabad to avoid possible attempts by supporters to prevent his arrest in Lahore, his hometown. Some even wondered whether he might be seized by Pakistani agents during his stopover in Abu Dhabi, where the airline is based. At the airport lounge there Mr Sharif himself hinted at dark forces behind an extra wait of one-and-a-half hours: “Think about who is behind this delay and why,” he said. But the arrest went smoothly, doubtless to the Pakistani authorities’ great relief. It may have helped that there had been an intense crackdown on Mr Sharif’s supporters in Lahore. Around 10,000 police were deployed across the city to prevent a column of tens of thousands of his fans from reaching the airport. Lorries and containers were used to cut off roads leading to it. The caretaker provincial government blocked access to the internet and mobile phone services. Almost 300 workers of Mr Sharif’s Pakistan Muslim League-Nawaz (PML-N), the country’s ruling party, were jailed temporarily on flimsy public-order offences. After Mr Sharif disembarked, around fifty paramilitary police linked arms to form a human shield around a car that took him a short distance to another aircraft that flew him to the city of Rawalpindi, close to the capital, where he was deposited in jail. Mr Sharif, 68, who retains control of the PML-N, says his sentencing was part of a military-backed conspiracy to deny his party a second term in office and to take revenge on him personally for trying to limit the army’s overweening influence after he began his third stint as prime minister in 2013. Reviewing his political career since the first time he was jailed, after his overthrow in a bloodless coup in 1999, Mr Sharif told The Economist on board the Etihad flight that his battle with the “establishment” was “heading towards its peak”. He questioned how credible the election would be with the government “taking such action against our people”. Mr Sharif’s opponents hope that prison will limit his ability to influence politics. He may indeed find it hard to marshal his lieutenants from behind bars. A media blackout will frustrate any attempt to do so. On the day of Mr Sharif’s return, Pakistan’s media regulator warned media companies against airing footage of the return. A show about Mr Sharif’s return, anchored by one of Pakistan’s most prominent television presenters, Syed Talat Hussain, was cancelled. A veteran TV correspondent, Asma Shirazi, found her lengthy interview with Mr Sharif did not air. “This is worse than dictatorship,” she groaned while waiting in the business-class lounge of Abu Dhabi airport. Ms Shirazi recalled that Pervez Musharraf, the general who toppled Mr Sharif in 1999, had at least allowed journalists to cover the return from exile in 2007 of Benazir Bhutto, another powerful civilian leader feared by the army. But voters are unlikely to forget Mr Sharif’s decision to sacrifice personal comfort. Murtaza Solangi, a television host, says the former prime minister’s influence within the PML-N will become stronger. Many observers expect the party will fail to retain its parliamentary majority in the election (many of its candidates have defected to the rival Pakistan Tehreek-e-Insaf, a party controlled by Imran Khan, a former cricketer who enjoys support within the army). But Mr Sharif told The Economist that his “struggle” would be “taken forward by my party and by my brother, Shahbaz.” The PML-N may take encouragement from polling conducted for the army suggesting that it is losing popularity in Punjab, a crucial province of which Lahore is the capital and where support for Mr Sharif is strongest. Mr Sharif’s daughter, Maryam, may also still have a political future. Even just a year ago she was scorned by many people in Pakistan as little more than a bolshie Twitter-user. During her father’s recent saga her stature has risen. Alternately demur and—to quote Mr Hussain, the television presenter—as ferocious as “ten thousand horses” in defence of her father, she faces an additional ten-year ban from politics once she is freed. But, as Mr Sharif put it before leaving London: “These people did not even remember in their hate what stature daughters have in Pakistan.” (the late Ms Bhutto was one such: she went on to become prime minister after her father, a former prime minister, was hanged.) Sentenced for “abetment” and “non-co-operation with the court” in part on the basis of evidence that she had forged a document (her anachronistic use of Calibri font gave her away), Maryam Sharif may yet leave a large mark on Pakistan’s history.

Pakistani media blackout for former prime minister’s return

The return of former Pakistani Prime Minister Nawaz Sharif to Lahore from London, where he is to be sentenced to ten years for corruption, has sparked the deployment of 10,000 police in the city. Shipping containers have been placed on main roads to block protesters moving to the airport while Pakistan’s media regulator has warned against media companies airing footage of his return. Sharif alleges the military is aiding a “judicial witchhunt” against him and his party through these strategies; The military deny interfering in modern-day politics and plan to place 371,000 soldiers around polling stations for the general election.

https://www.hindustantimes.com/world-news/amid-lahore-lockdown-nawaz-sharif-to-reach-pakistan-to-face-jail-in-absentia/story-4oOpdCxkPK6QRzHDEZDmXL.html

Ousted Pakistani Prime Minister Nawaz Sharif and his daughter Maryam, both sentenced to lengthy jail terms in absentia, are due to return to Pakistan on Friday in a high-stakes gamble to galvanise their beleaguered party ahead of a July 25 general election. Police officers are deployed at Lahore airport in Pakistan.(AP Photo) On Friday afternoon, thousands of police had been deployed in the central city of Lahore and shipping containers placed along main roads, which could be used to block protesters from moving towards the airport, where Sharif is expected to land. Local police official Naveed Shah told Reuters his current orders did not include restricting people’s movements, but that could change when supporters of Sharif’s Pakistan Muslim League-Nawaz (PML-N) party take to the streets. PML-N loyalists have said they will march to the airport in defiance of a ban on all public rallies. Sharif is returning from Britain one week after an anti-corruption court handed him a 10-year jail term over the purchase of luxury London flats and sentenced his daughter and political heir to seven years in prison. Their return could shake up an election race marred by claims Pakistan’s powerful military is working behind the scenes to skew the contest in favour of ex-cricket hero Imran Khan. Sharif alleges the military is aiding a “judicial witchhunt” against him and his PML-N party. The party’s past five years in power has been punctuated by the civil-military discord that has plagued Pakistan since its inception. The opposition Pakistan People Party (PPP) also alleged “pre-poll rigging” this week, but did not specifically name the armed forces. The military, which has ruled Pakistan for about half its history since 1947, has denied interfering in modern-day politics. It plans to place 371,000 soldiers around polling stations so there can a “free and fair” elections, an army spokesman said this week. “Nawaz really believes this is about democracy and his legacy,” Musadik Malik, Sharif ally and former PML-N cabinet minister, told Reuters. “That is why he is willing to lose 10 years of his life over this.” Sharif’s PML-N expects a groundswell of support as he returns from London, where his wife Kulsoom is critically ill and undergoing cancer treatment. To prevent PML-N workers staging a hero’s welcome on the streets, authorities said they will arrest the father and daughter upon landing and transport them to the capital Islamabad by helicopter, local media reported. Sharif’s return comes at a time of dwindling fortunes for his party, which one year ago was considered a run-away favourite to retain power. Recent opinion polls suggest PML-N has lost its lead nationally to the Pakistan Tehreek-e-Insaf (PTI) party of arch-rival Khan, whose anti-corruption message has resonated with many Pakistanis. Khan has painted Sharif as a “criminal” who has looted the state for decades, and welcomes his prison term as overdue accountability. Sharif was ordered jailed after failing to explain how the family acquired the London flats in a case stemming from 2016 Panama Papers revelations that showed they owned the apartments through off-shore companies. Maryam was convicted for concealing ownership of the apartments. They both deny wrongdoing. ‘We are winning’ After the Supreme Court ousted Sharif last July, the courts barred him from heading the PML-N party he founded. His brother Shehbaz became PML-N’s president, but Sharif remains the power behind the throne. Since then, a host of his allies have been either disqualified by the courts, or face corruption cases. Many PML-N lawmakers have also defected to Khan’s party. PML-N has also been riven by internal divisions. Sections of the party oppose Sharif’s combative approach against the army and fear it will turn off voters in a deeply conservative and patriotic Muslim nation of 208 million people. The kind of reception Sharif receives on the streets of Lahore will be viewed carefully in Pakistan, where political popularity is often measured by the size of rallies that politicians can attract. PML-N leaders say authorities have begun a crackdown against union council leaders, the street-level party workers who bring out people on the streets, detaining hundreds of workers over the last 36 hours. “Those who think they can scare us...open your ears and hear this: we are winning this election,” Shehbaz Sharif told reporters in Lahore on Thursday. On Friday morning, a bomb blast struck the convoy of Akram Khan Durrani, an ally of Sharif’s PML-N from the religious Muttahida Majlis-e-Amal party (MMA) in the northern town of Bannu, killing four people. The MMA is expected to challenge Khan’s PTI in the northern Khyber Pakhtunkhwa province in the upcoming polls.

China to make major moves into AI over 2017

China is set to make major investment in AI and AR research. The national search engine Baidu has announced that former Microsoft executive Qi Lu will take over as CEO. A large part of Lu’s remit was developing strategy for AI and chatbots. The search engine’s chief scientist, Andrew Ng, has announced that the company will open a 55-strong augmented reality lab in Beijing, which will initially focus on building marketing tools. Similar growth is being observed in the state’s research community, which has published more papers on deep learning than US academics.

https://www.technologyreview.com/s/603378/in-2017-china-is-doubling-down-on-ai/

Meanwhile, Baidu’s chief scientist, Andrew Ng, has announced that the company is opening a new augmented reality lab in Beijing. Baidu has already made progress in AR, using computer vision and deep learning to add an extra layer to the real world for millions of people. But the new plans aim to use a 55-strong lab to increase revenue by building AR marketing tools—though it’s thought that the company will also consider health-care and education applications in the future. But Baidu isn’t alone in pushing forward. Late last year, Chinese Internet giant Tencent—the company behind the hugely successful mobile app WeChat, which has 846 million active users—said that it was determined to build a formidable AI lab. It plans to start publishing its work at conferences this year. Smaller players could also get a shot in the arm. According to KPMG, Chinese venture capital investment looks set to pour into AI research in the coming year. Speaking to Fintech Innovation, KPMG partner Egidio Zarrella explained that “the amount being invested in artificial intelligence in Asia is growing by the day.” Similar growth is already underway in China's research community. A study by Japan's National Institute of Science and Technology Policy found China to be a close second to the U.S. in terms of the number of AI studies presented at top academic conferences in 2015. And a U.S. government report says that the number of papers published by Chinese researchers mentioning "deep learning" already exceeds the number published by U.S. researchers. All of which has seen South China Morning Post label AI and AR as “must haves” in any self-respecting Chinese investment portfolio. No kidding. This year, it seems, many U.S. tech companies might find themselves looking East to identify competition. (Read more: Bloomberg, Reuters, “A Chinese Internet Giant Enters the AI Race,” “How AI Is Feeding China’s Internet Dragon,” “Baidu Is Bringing Intelligent AR to the Masses”)

Indian crypto exchanges look abroad amid central bank crackdown

India's cryptocurrency exchanges are considering moving overseas after the Reserve Bank of India banned dealings with them. Banks have been told to close the accounts digital currency firms and to stop offering them loans and services after 6 July. While exchanges such as Coindelta mull a legal challenge against the ruling, they are looking at crypto-friendly jurisdictions like Malta, Singapore, Japan, Dubai, Switzerland, Estonia and the Cayman Islands as possible relocation sites. The cost of relocation would be so high that only the biggest firms would survive, said Anirudh Rastogi, managing partner at law firm TRA.

https://qz.com/1253245/with-the-rbi-cracking-down-indias-cryptocurrency-exchanges-look-to-singapore-switzerland-and-malta/

The Indian central bank’s crackdown on virtual money may drive cryptocurrency exchanges out of the country to more friendly locations. Earlier this month, the Reserve Bank of India (RBI) issued a directive that, by July 06, lenders must close the bank accounts of firms dealing in cryptocurrencies. Banks are also forbidden from offering loans or other services post-deadline. Essentially, this marks the end of the road for the digital currency-related operations in India. Advertisement But the exchanges are not giving up just yet. “It won’t be possible for us to function in the current regulatory environment with existing business models. Therefore, several firms are looking at registering their head offices out of India,” said Shubham Yadav, co-founder of Coindelta, a cryptocurrency exchange. These “cryptocurrency-friendly” locations include Singapore, Switzerland, Estonia, Malta, Japan, Dubai, and the Cayman Islands. “This way, we won’t be an India-centric exchange but will become a global player,” the CEO of another virtual exchange company said, declining to divulge the firm’s plans. The exchanges are also considering a legal challenge to the RBI’s diktat in the supreme court of India. A few are looking to approach the court collectively for a stay on the new rules. Lawyers believe the RBI’s clampdown can be challenged on several counts. Advertisement Finding a way out Till now, investors could buy digital currencies paying in rupees. That ends with the July 06 RBI deadline. “The current remittance regulations will not allow customers to convert rupees into any other currency and make purchases from an international exchange. Therefore, the only option left will be crypto-to-crypto trade for (the existing) investors that allows you to buy one cryptocurrency in exchange for the other,” said Hesham Rehman, CEO of Bitxoxo, another cryptocurrency exchange. “The other option is buying by paying cash in another nation, which may not be feasible.” For first-time investors, the only option left will be the peer-to-peer transactions, a system that some exchanges are considering. In this, an exchange’s role is limited only to connecting the buyer and seller of cryptocurrencies, who then take the transaction offline without involving the firm. But this mode would come with its own set of challenges. Advertisement “Trust is an important concern here as these transactions take place between two individuals. It works on the guarantee that you will get the cryptocurrency after giving cash. So there are concerns about frauds or illegal transactions,” explained Nischal Shetty, founder and CEO of WazirX, another Indian cryptocurrency exchange. Given all this, only the bigger Indian cryptocurrency firms will survive. “Shifting the operation to another country is an expensive as well as taxing proposition. Similarly, re-inventing the whole business model also won’t be easy,” said Anirudh Rastogi, managing partner at law firm TRA which represents several bitcoin exchanges in the country. “Therefore, only bigger firms with better financials will find it worthwhile to restructure their businesses and will survive.”

Google Wallet for iOS redesigned

According to a report from Google Inc, Google has pushed an update to its Google Wallet app for iOS. The new iOS app will now support peer-to-peer payments, making it easy to send money to anyone in the U.S with an email address, even if they don’t have Wallet. It's fast, easy, and free to send directly from your credit or debit card, bank account, or Wallet Balance. When you receive money, you can quickly cash out to your bank account using your debit card, or spend it instantly with the Google wallet card. Loyalty programs and offers are no longer available in the app. The newly featured app also allows anyone to easily split bills with available contacts.  

https://venturebeat.com/2015/09/21/google-wallet-for-ios-redesigned-with-focus-on-peer-to-peer-payments/

Missed the GamesBeat Summit excitement? Don't worry! Tune in now to catch all of the live and virtual sessions here. Google rolled out a big update to its Google Wallet app for iOS on Monday, which brings a few nifty new features and a welcome redesign. Users can now send peer-to-peer payments, or cash out directly to a debit card — though Google is removing support for loyalty cards, gift cards, and offers with this update. You can export those here. “Send money to anyone in the U.S. with an email address,” Google said of the new service. “It’s fast, easy, and free to send directly from your debit card, bank account, or Wallet Balance.” “When you receive money, you can quickly cash out to your bank account using your debit card, or spend it instantly with the Google Wallet Card,” the company added. New Google Wallet for iOS available now on the App Store. Easily split bills and settle up! https://t.co/Iz2Gi6EZNp pic.twitter.com/nlyV0ZABLZ — Google Wallet (@googlewallet) September 21, 2015 Emphasis is being placed on the ability to send money to people who don’t use the Wallet, though, for now, this feature is also still exclusive to U.S. users. Other features that Google wants users to take advantage of include splitting expenses (i.e. at a meal or on a trip), managing the Wallet Card (accepted wherever debit MasterCard is and at ATMs), placing limits on spending, and setting up recurring transfers from your bank account. With an increasing number of the apps that we already use on a daily basis starting to incorporate peer-to-peer payments — including Facebook and Snapchat — the “Wallet Wars” are just getting started. And Google wants to win. You can grab the new iOS update here.

Justin Haskins: Socialists in US beware – the lessons from Conservatives' landslide win in Britain | Fox News

Democrats have every right to be terrified of this specter – because if they nominate socialist Sens. Bernie Sanders of Vermont or Elizabeth Warren of Massachusetts as their presidential candidate, they could suffer a crushing defeat, just as Britain’s Labour Party did last week.British Prime Minister Boris Johnson’s Conservative Party won a landslide victory over the socialist Labour Party led by Jeremy Corbyn in parliamentary elections Thursday.Even more importantly for many British and American socialists, after years of promoting relatively moderate policy platforms – well, “moderate” by European standards – the Labour Party had taken a sharp left turn under the leadership of Corbyn.

https://www.foxnews.com/opinion/justin-haskins-socialists-beware-uk-elections.amp

If I may paraphrase Karl Marx: A specter is haunting the Democratic Party – the specter of socialism. Democrats have every right to be terrified of this specter – because if they nominate socialist Sens. Bernie Sanders of Vermont or Elizabeth Warren of Massachusetts as their presidential candidate, they could suffer a crushing defeat, just as Britain’s Labour Party did last week. British Prime Minister Boris Johnson’s Conservative Party won a landslide victory over the socialist Labour Party led by Jeremy Corbyn in parliamentary elections Thursday. Conservatives won 365 seats in the 650-seat lower house of Parliament, while Labour won only 203 seats – its worst election performance since the 1930s. Smaller parties won the remaining seats. There are, of course, big differences between politics and government in the United Kingdom and the United States. But Johnson has often been compared to President Trump, while Sanders and Warren are similar to Corbyn in many ways. {{#rendered}} {{/rendered}} PEGGY GRANDE: DEMOCRATS BEWARE – BRITISH ELECTION IS FINAL NAIL IN THE COFFIN OF THE GLOBALIST EXPERIMENT Like Trump, Johnson doesn’t fit the traditional mold of the leader of his nation. Both men are blunt, have ignored protocol, and sometimes seem likes bulls in a China shop. They have plenty of supporters – but plenty of critics as well. As for Sanders, to his credit, he’s honest enough to admit he’s a socialist – joining Corbyn on the far, far left fringe of the political spectrum. Warren, who tried for years to falsely pass herself off as Native American, now tries to falsely pretend she’s a capitalist. But an examination of her positions shows she’s just as much as socialist as Comrade Bernie. {{#rendered}} {{/rendered}} CLICK HERE TO SIGN UP FOR OUR OPINION NEWSLETTER Britain’s general election was viewed by many on the left as a potentially revolutionary moment for socialism. It appeared for months that the Labour Party was poised to seize power in Parliament and install Corbyn as prime minister. Even more importantly for many British and American socialists, after years of promoting relatively moderate policy platforms – well, “moderate” by European standards – the Labour Party had taken a sharp left turn under the leadership of Corbyn. {{#rendered}} {{/rendered}} In the run-up to Thursday’s election, Corbyn and the Labour Party promoted their agenda as the “most radical … in modern times.” They obviously thought this would attract voters. Instead, the radical agenda seems to have driven voters away in droves. Karl Marx famously authored “The Communist Manifesto” in 1848, published in London. This year the Labour Party had its own manifesto that would have made Marx proud. Labour's manifesto promised a Green Industrial Revolution that would eliminate most fossil fuel use by 2030 to fight the “climate emergency.” That would cause massive energy price increases and likely energy shortages – and apparently enough voters figured that out to reject the party. {{#rendered}} {{/rendered}} Labour candidates also campaigned on a proposal to force large companies to hand over 10 percent of their ownership to workers and planned to create a pilot universal basic income program. Additionally, Corbyn and other Labour Party leaders pledged to mandate a full year of paid maternity leave, build a million new homes for low-income Brits, nationalize key industries like energy, increase union collective bargaining rights, and mandate wage requirements. Trump’s victory in 2016 was made possible in large part because of Democrats’ move to the left and rejection of values that had for decades won them support from working-class communities in the American Midwest. Instead of learning from their 2016 loss, most of the Democrats competing for their party’s 2020 presidential nomination have moved even further toward socialism and globalism. Oh, and one other thing: Labour promised to raise taxes to pay for all this “free stuff.” {{#rendered}} {{/rendered}} Sound familiar? Many of these same policies have been peddled not just by Sanders and Warren but by a lot of the other Democrats competing to run against President Trump in November. The success for the Conservative Party Thursday was due in large part to the gains it made in areas of the United Kingdom that have traditionally been much more favorable for the Labour Party, especially working-class communities. This conservative success is remarkably similar to Trump’s surprising 2016 victories in states Hillary Clinton was favored to win – including Michigan and Wisconsin. {{#rendered}} {{/rendered}} Some on the left, including Corbyn himself, have attempted to write off Labour’s embarrassing showing as one due entirely to the party’s attempts to block Brexit – the British exit from the European Union that was approved in a national referendum in 2016. But the socialist principle of collectivism is the foundation of the Brexit debate. This principle says that all people in society must share their wealth and property and make economic decisions as a group, rather than as free individuals. Britain’s involvement in the European Union brought the issue of collectivism to the forefront of many of the most important public policy debates in the United Kingdom over the past decade. {{#rendered}} {{/rendered}} For example, should the British people be forced to live according to the collective desires of the whole of Europe, or should they be free to chart their own course? Must Brits redistribute their wealth to nations like Greece, or should they be free to manage their own economy and property? When British voters chose to reject collectivism and endorse Brexit, the Corbyn-led Labour Party chose to double down on socialism rather than move back to the political center. That turned out to be a very big mistake. {{#rendered}} {{/rendered}} The decision by working-class British voters in 2016 to reject the globalist, socialist policies of the European Union foreshadowed Trump’s election as our president. Trump’s victory was made possible in large part because of Democrats’ move to the left and rejection of values that had for decades won them support from working-class communities in the American Midwest. Instead of learning from their 2016 loss, most of the Democrats competing for their party’s 2020 presidential nomination have moved even further toward socialism and globalism. They have adopted radical economic policies like the Green New Deal and reckless immigration policies that would throw open our borders and call for massive tax and spending increases to fund free college and all sorts of other government giveaways. {{#rendered}} {{/rendered}} Apparently, many Democrats have forgotten that in 1972 far-left Democratic presidential candidate Sen. George McGovern of South Dakota carried only Massachusetts and the District of Columbia when he ran for president against President Richard Nixon, who won the other 49 states. And McGovern wasn’t as far left as Sanders and Warren. The Democrats elected to the White House since McGovern’s loss – Presidents Jimmy Carter, Bill Clinton and Barack Obama – would never be described as conservatives, but they were to the right of McGovern and most of the Democratic presidential candidates today. Outside of Democrats’ far-left, mostly urban strongholds, Americans have consistently rejected socialism. A November Heartland Institute/Rasmussen Reports survey found just 12 percent of all likely voters said they think socialism is better than a free-market economic system. Only 26 percent said they would vote for a presidential candidate who identifies as a socialist. {{#rendered}} {{/rendered}} That’s why on Friday Democratic presidential candidate and billionaire capitalist Michael Bloomberg referred to the British election results as a potential “canary in the coal mine” and a “catastrophic warning” for Democrats. I disagree with Bloomberg on most things, but I’m in complete agreement with him on this point. Most Democratic politicians seem completely unwilling to advance policies that the majority of Americans want. Instead, they appear focused on impeaching Trump – even though he’s done nothing to warrant his removal from office. CLICK HERE TO GET THE FOX NEWS APP {{#rendered}} {{/rendered}} If Democrats keep this up – and they almost certainly will – it’s looking increasingly likely that Trump will win another four years in the White House and Republicans could capture control of the House and keep control of the Senate in 2020. The further to the left the Democratic presidential candidates move, the more voters get left behind. That’s why the Democratic embrace of socialism is very good news for President Trump. CLICK HERE TO READ MORE BY JUSTIN HASKINS

Fascinating Ways Big Data Is Reshaping The Future of Football

Every movement is now tracked during the 90 minutes of action that takes place, meaning that nothing slips under the radar any more. Each player now has a quantifiable set of data attached to a performance. The data allows the club to unlock the true potential of their prized assets, but also ensures they are getting the value required after the transfer fee. Players that get involved in fantasy football are also benefiting.

https://www.smartdatacollective.com/fascinating-ways-big-data-reshaping-future-football/

The world of football is big business, and the future of football is changing. It is an industry that saw a big boom 25 years ago, thanks to the amount of money that was spent by television companies who were craving live content for their channels. This boom has shown no signs of slowing down over the next few decades. Millions have been paid by media giants. Those have now turned into billions. Due to this, it has meant that the clubs involved have received huge swathes of money. Unfortunately, it hasn’t always been spent efficiently. A lot of money has been spent on eye-watering transfer fees. However, it’s not just financial inducements that are helping the likes of Manchester City and Liverpool compete at the top, there has also been another revolution in the game. One that comes in the form of data. It’s not just about tactical systems and making sure that the players you buy are the right for your team, it is about getting the best out of the new signing that could cost somewhere in the region of £50m. This is where the reams of analytics that are now available to clubs such as the ones competing in the Premier League. Thanks to the emergence of tools such as ProZone or companies such as Opta, the football landscape has changed forever. This is where big data is going to play a huge role. In 2015, Forbes published an article on the ways that big data is helping the football industry. The industry seems to have invested even more heavily in big data since. Is Big Data Causing A Changing Of The Guard? Football is one of the few industries still growing in the UK alongside tech-heavy industries such as online gaming and the rise of slots websites despite much higher increase in compliance, but like gaming, will football prove that it can continue to grow continuously? It took a while to pick up momentum, but data is changing the future of the industry. Most of the ‘old-school’ coaches viewed the use of analytics in football with skepticism. This was especially true in scouting. However, even industry veterans recognize that traditional scouting doesn’t cut it anymore. Now it is all about making more informed decision and that is where the use of data plays a huge part. Everton was under the stewardship of former manager David Moyes, after joining the club from Championship outfit Preston the now 55-year-old had the foresight to revolutionize his scouting department. Moyes changed the industry in a fascinating way around the same time the computer game franchise ‘Football Manager’ was doing big business. The huge player database that was created, powered by an army of researchers around the globe that fed back the information to the game’s creators Sega. It then played the role of the best scout on the planet. Moyes identified that this huge amount of player data could give Everton a real leg up in the transfer market and it is something that you would have to believed bore fruit as the Merseyside club finished 4th in the Premier League in 2005. That has been their bestfinish to date. Although they did qualify for the Champions League the following season, any hopes of mixing it with Europe’s elite where then cut short after a play-off defeat to Villarreal from Spain. Since then the intel that Everton stole on their nearest rivals has been minimized, as every club worth its salt now has a state-of-the-art department tracking the huge amounts of analytical data that is now available. Big data isn’t just helping coaches or players on the front lines either. Players that get involved in fantasy football are also benefiting. Predictive Analytics And Deep Learning Lead To More Informed Insights Analytics is not just used for identifying transfer targets either. It is also used to compare how players have performed during on match days and where more importantly the room for improvements can be made the following week. Every movement is now tracked during the 90 minutes of action that takes place, meaning that nothing slips under the radar any more. Therefore, there can be no hiding from a poor performance especially if a player is not putting the effort in. Whether it be the number of headers, passes or tackles made, each player now has a quantifiable set of data attached to a performance. So, if they lost 30% of aerial challenges in their previous game, this is something that can be worked on in training in the next few days. The data allows the club’s coaching staff to not only unlock the true potential of their prized assets, but also making sure they are getting the value required out of them after spending such a huge transfer fee. Failure to maximize their return on investment, would be like buying a sports car and then putting the wrong kind of petrol in it. Quite simply an action that stops you getting the best use out of your new purchase. People may argue that there is too much data creeping into the game and that some categories of analysis perhaps give the wrong results. For example, if you were to look at pass completion rate, this is an area which can return anomalies. Say a player has a 94% pass completion rate, but at the same time only passes sideways and of a distance of five yards is that necessarily better than a player that has a 78% completion rate but also creates more attacks because of the riskier nature of his distribution. It does show that there still some areas of the analytical side of the game that need to be fine-tuned, but at the same time you will find very few people who will now say that the introduction of data in to the game has been a bad thing. With so much money involved in the game these days, there margins between glory and agony are so fine that any additional elements that can push a side to victory are always encouraged. Data may have taken a while to be embraced in Football, but now it is here to stay. Professional football is changing forever, largely due to changes in big data. Football teams are investing in deep learning, predictive analytics and other impressive big data models. This will increase the value of the market for years to come.

Mark Robinson steps down as coach of England Women after Ashes rout

Mark Robinson is to step down as the England Women’s coach after “a wonderful four years” ended with defeat in the Ashes.The 52-year-old former Sussex coach guided England to victory in the 2017 World Cup and to the final of last year’s Women’s T20 World Cup in the Caribbean but he was unable to get the better of Australia.“Nothing could ever surpass winning the Women’s World Cup on home soil but from a pure coaching perspective reaching the T20 final last November – with a depleted team, three non-contracted players and three players 20 years old or younger – is a huge personal highlight.

https://www.theguardian.com/sport/2019/aug/20/mark-robinson-england-women-coach-stands-down

Mark Robinson is to step down as the England Women’s coach after “a wonderful four years” ended with defeat in the Ashes. The 52-year-old former Sussex coach guided England to victory in the 2017 World Cup and to the final of last year’s Women’s T20 World Cup in the Caribbean but he was unable to get the better of Australia. England won only one of seven matches in the all-forms format. Robinson said: “Although the recent Ashes was a difficult series, a few hard weeks doesn’t take anything away from what has been a wonderful four years. I’ve had so many highlights and memorable moments with the team. “Nothing could ever surpass winning the Women’s World Cup on home soil but from a pure coaching perspective reaching the T20 final last November – with a depleted team, three non-contracted players and three players 20 years old or younger – is a huge personal highlight. “It’s been exciting to watch so many players grow and to watch so many records broken but it feels the right time to take on a new challenge and to allow a different voice to come in before the next T20 World Cup in Australia.” The ECB’s director of women’s cricket, Clare Connor, said: “Mark can reflect on his time as England coach with a great deal of pride. Winning the World Cup in front of a packed Lord’s was a landmark moment for the whole game and his leadership and professionalism were an integral part ofour success. “He drove high standards across young players to become the best team in the world as well as coaching them to understand the demands of professional sport. “Mark passionately championed the development of the women’s game and we thank him for all he has contributed to England women’s cricket during such an exciting stage of our journey. However, after discussions with Mark, we have agreed that now is the right time for him to step down.” The assistant coach, Alastair Maiden, will take temporary charge for the Women’s Championship series against Pakistan in December. Robinson, who played for Sussex and Yorkshire and coached the latter for 10 years, winning two championships in the process, worked with the England Lions squad before being handed the reins of the women’s team in November 2015. He took over from head of performance Paul Shaw in the wake of his decision to stand down two months earlier. Robinson took tough decisions as he looked to raise standards, introducing changes that led to the long-serving captain Charlotte Edwards leave the international stage. The pinnacle of his reign came in July 2017 when Heather Knight led her side to a dramatic nine-run victory over India in the World Cup final as Anya Shrubsole claimed six for 46. However, a tied series in Australia later the same year saw the hosts retain the Ashes and they never looked like surrendering them in England this summer as the hosts won only one of the seven matches in the all-forms format to go down 12-4.

The future of tractors

Trends in tractor development have been similar to cars with a strong focus on technology, efficiency and reliability. Electric tractors are on the market, but the limited operating time of a battery may not suit the long hours required by farmers. Future concepts include complete automation of tractors, with driverless tractors playing their part to increase automation in farming.

https://www.rte.ie/brainstorm/2018/1204/1015003-the-future-of-tractors/

Opinion: get set for expensive machines, natural gas powered farm vehicles, precision agriculture, big data and even driverless tractors The humble tractor has evolved immensely since Henry Ford mass produced the Fordson tractor almost 100 years ago. Within a short time, the tractor has revolutionised farming across the world. Today tractors are all about power, comfort and reliability, but the future of tractors is about big data, automation and of course… big price tags. Tractors are an essential part of any farm. A typical tractor seen on an Irish farm will churn out 80 to 150 horsepower with much larger machines of over 500 horsepower available to tackle the toughest challenges on bigger farms. The largest tractor in Ireland is rumoured to be the Case IH Quadtrac which is huge four-tracked Goliath capable of pulling heavy seed drills and ploughs through the toughest soils. In Ireland, this type of very large tractor is rare and is more suited to large open crop farming on the Continent or in North America. Not surprisingly, tractors are expensive. A new mid-range tractor will cost anything from €60,000 upwards, with higher end tractors costing up to €200,000. Case iH 620 QuadTrac tractor. Photo: Lyle Setter/Icon Sportswire via Getty Images In recent times the trend in tractor development has been similar to cars with a strong focus on technology, fuel efficiency and reliability. In peak farming seasons, drivers spend many hours in the cab so there is a big effort from manufacturers to increase comfort and reduce driver fatigue with smart driver assist technology to automate repetitive driving sequences, chilled food cabinets, air suspension seats and even compartments to keep food warm. Like passenger cars, electric tractors are also on the market, but don’t expect to see lots of them anytime soon. Many farmers need the tractor to run long hours on busy days and the limited operating time of a battery may not suit many operations. Natural gas or renewable gas powered tractors are also available, but have yet to make it to the mainstream. Farmers are also facing shorter weather windows for land access due to changing weather. Agricultural contractors are coming under increased pressure to deliver high-quality silage, maize and crops in shorter periods with quicker turnarounds so reliability and size of machines are important. In the silage season, a tractor will use over 200 litres of diesel on a typical day so stopping to fill up every few hours is not an option. We need your consent to load this rte-player contentWe use rte-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.Manage Preferences From RTÉ Radio One's Countrywide, why are men obsessed by tractors? But size doesn’t always a matter. One advantage of smaller tractors is that they are lighter and reduce soil compaction. Soil compaction can lead to reduced crop yields for tillage farms and sometime large tractors will use tracks or large multiple wheels to reduce its impact. The modern tractor is also an integrated part of a drive towards what is called "precision agriculture", which is the latest phase in the agricultural revolution with the tractor at the centre of big data and software systems. These systems use lots of data and measurements collected by tractors and farm machines to make the best use of land. While not so common yet in Ireland, integrated farm management systems connect telemetry collected from the tractors to analyse crop yields, fertilizer output, soil quality and planting efficiency. This allows a farmer to use each square inch of soil to its maximum potential for example by planting seeds in the right spot and depth, with the right amount of fertilizer and applying the right amount of spray. Crop productivity can be monitored and fertilizer rates can be adjusted to fine-tune performance. This is driving a trend across the world in producing more food from less land. We need your consent to load this rte-player contentWe use rte-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.Manage Preferences From RTÉ Archives, Joe O'Brien reports for RTÉ News on the arrival in Dublin in January 2003 of a tractorcade of 300 tractors to protest over falling farm incomes But will future tractors need drivers? In the film Interstellar, Matthew McConaughey wakes up to find a number of driver-less tractors outside his home. The film may be science fiction, but the tractors that McConaughey sees exist today and are part of early stage testing and development by Agri giant Case IH Many tractor manufacturers already offer systems that automatically steer and guide the tractor but the driver must be present for safety and supervision. This means the driver sits in the cab while the tractor is guided up and down the field by GPS which optimises the route travelled to avoid any overlaps and to make it as quick and efficient as possible. Driverless tractors are still in early stage development but could deliver potential benefits in terms of longer operational hours and reduced costs Future concepts take this one step further for complete automation of tractors and the driverless tractor is part of a move to increase automation in farming. The farmer of the future might remotely monitor and control the tractor using a device such as a tablet from the comfort of their home. Driverless tractors are still in early stage development but in the future could deliver potential benefits in terms of longer operational hours (no driver fatigue) and reduced costs for labour. Of course, public perception and trust must be developed in these new technologies. Farmers might not be so willing to trust their work to equipment that does not have someone in the cab to make decisions and deal with problems. The views expressed here are those of the author and do not represent or reflect the views of RTÉ

Allison Transmission launches zero-emission capable hybrid system

Vehicle drive system maker Allison Transmission has launched its eGen Flex zero emission-capable hybrid systems for bus fleets. The systems, the first offerings under the Allison eGen brand, include a drive unit, inverter and rechargeable storage capacity. The inverter is cooled by water ethylene glycol, which eliminates oil lines and reduces maintenance expense. Allison has also incorporated lithium titanate technology into the storage system, offering faster charging and an extended pure electric range. The commercial launch of eGen Flex and eGen Flex Max is planned for 2021. Lead fleet partner IndyGo has already installed Allison systems in 27 buses.

https://www.greencarcongress.com/2020/08/20200828-allison.html

Allison Transmission, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions and a supplier of commercial vehicle propulsion solutions, including electric hybrid and fully electric propulsion systems, launched its new zero-emission-vehicle (ZEV)-capable electric hybrid system, the eGen Flex, as the initial product offering under its new Allison eGen brand. eGen Flex provides bus fleets with full electric engine-off propulsion and accessory power operation capability—suited for zero-emission zones and depot operation, including when approaching, during, and leaving passenger stops for a quieter and healthier environment. Allison’s new eGen brand represents not only the generation of power, but also the future generations of electric propulsion. The eGen product family will include Allison’s portfolio of electric hybrid and full electric products, including the company’s portfolio of electric axles. The eGen Flex electric hybrid system includes a new drive unit, inverter and rechargeable energy storage system. The drive unit includes a disconnect clutch that enables engine-off capability. The inverter has an innovative package improvement that reduces its footprint and weight. The inverter is now water ethylene glycol (WEG) cooled, which eliminates oil lines, decreasing installation complexity, reducing maintenance expense, and increasing uptime. The energy storage system incorporates the latest Lithium Titanate (LTO) technology, which significantly increases energy density, allows for faster charging and enables pure electric (engine off) extended range capability. With the launch of eGen Flex Allison will offer two distinct models, eGen Flex and eGen Flex Max. eGen Flex will be similar in feature set and capability to the Allison H 40/50 EP electric hybrid propulsion system, but with the package enhancements summarized above. eGen Flex Max will offer fully electric propulsion for up to 10 miles, dependent upon duty cycle and accessory load requirements. eGen Flex and eGen Flex Max will be offered in CertPlus model configurations for sale in California Air Resources Board (CARB)-adopting states. Similar to the existing H 40/50 EP nomenclature, eGen Flex and eGen Flex Max will also be available in “40” and “50” configurations based on fleet torque requirements. Increased Accessory Power 2 will be available with eGen Flex, and will be required with eGen Flex Max. This capability electrifies vehicle accessory systems, such as air conditioning and electric heat, allowing those accessories to operate at their optimal efficiency point, and with clean and quiet electric power, thus reducing emissions and strain on the engine, thereby protecting our environment. Allison is engaged with transit Original Equipment Manufacturers (OEMs) and transit fleets to support a scheduled 2021 commercial release of eGen Flex. IndyGo, which recently selected Allison’s H 40 EP electric hybrid propulsion solution to power 27 new buses, will be a lead fleet partner for Allison’s revolutionary new electric hybrid product, eGen Flex. The Allison H 40 EPTM will be paired with the industry benchmark Cummins B6.7 in 24 of the 27 Gillig buses. In addition, IndyGo, Allison and Cummins are partnering to integrate eGen Flex into three of IndyGo’s new buses. The eGen Flex Max specified by IndyGo will enable pure electric (engine off) operation for up to 10 miles on any route, at any time, without capital infrastructure investment in charging stations. Since 2003, Allison has delivered more than 9,000 electric hybrid propulsion systems globally. These systems have accumulated nearly 2.6 billion miles, saving more than 305 million gallons of fuel and preventing three million metric tons of carbon dioxide from entering the atmosphere.

Home Retail Group Competition for Sainsbury’s wins battle for Home Retail Group thins

Sainsbury's looks likely to take over the Argos-owning Home Retail Group, owner of Argos, after announcing an unchallenged £1.4bn offer on Friday afternoon. South African retail group Steinhoff, which had also previously declared a takeover interest, but announced the withdrawal of its offer to the London Stock Exchange earlier in the day. Sainsbury's announced a £1.4bn offer on Friday afternoon.

http://www.theguardian.com/business/2016/mar/18/sainsburys-rival-steinhoff-pulls-out-of-race-for-home-retail-group

Sainsbury’s has tabled a £1.4bn takeover of Home Retail Group after South African retail group Steinhoff ditched plans to make a rival bid for the Argos owner. The supermarket confirmed its offer with less than half an hour to go before a 5pm deadline on Friday set by the Takeover Panel. Mike Coupe, chief executive of Sainsbury’s, said: “The combination of Home Retail and Sainsbury’s is a powerful one that will create long term shareholder value for both companies.” He insisted the merger was not risky but “well within the executional capabilities” of the Sainsbury’s management team. The Sainsbury’s cash and shares bid marks no change from the deal agreed with Home Retail’s board last month. At the time, Home Retail said it would be prepared to recommend an offer at that level to shareholders. Sainsbury’s said on Friday that it had not secured a recommendation from Home Retail’s board ahead of the Takeover Panel’s deadline - which it attributed to the late withdrawal of Steinhoff’s offer. Home Retail said it was looking forward to “working towards a recommendation”. The unchanged bid is likely to be disappointing for the Argos-owner’s shareholders who were hoping that £100m extra in annual cash reserves revealed by Home Retail last week and a competing bid from Steinhoff would lead to a higher offer. Steinhoff, which owns furniture chains Bensons for Beds and Harveys in the UK, released a statement to the stock exchange in London confirming withdrawal of its £1.42bn offer on Friday afternoon. Home Retail’s shares closed down nearly 10% at 163.2p and Sainsbury’s shares closed down nearly 3% at 273.2p after Steinhoff withdrew its offer. Markus Jooste, CEO of Steinhoff, said Home Retail was a “compelling business with unique attributes that remains attractive on many fronts”. But he added: “Having concluded our due diligence review and ancillary discussions, we have evaluated our findings against our investment criteria and today come to a decision not to proceed.” The reason for Steinhoff’s withdrawal became clear minutes later when the company, which also owns the Conforama electricals and furniture chain in France, confirmed it had agreed a deal to buy French electronics retailer Darty for £673m. The withdrawal of Steinhoff’s potential offer cleared the way for Sainsbury’s to finalise its planned takeover of Home Retail which has been under discussion since last year. Sainsbury’s sees the acquisition of Argos as a way to accelerate its attempts to tap into the fast growing online market. Sainsbury’s said the merger would create “a leading food and non-food retailer of choice for customers, building on the strong heritage of both the Sainsbury’s and HRG businesses whose brands are renowned for trust, quality, value and customer service.” The company also said it had found £40m more financial benefits in merging its operations with Home Retail – taking the total to £160m – after looking through the Argos-owner’s books over the last few weeks. Sainsbury’s said it believed it could add more Argos stores and increase savings by combining central operations – potentially meaning more head office job cuts. It made clear that it would not overpay for Argos, so shareholders will be watching closely to see if Sainsbury’s has been forced to increase its offer to oust Steinhoff from the process.

Scalable Capital inks SIPP partnership with AJ Bell

Scalable Capital has teamed up with AJ Bell to offer its 20,000-plus customers a self-invested personal pension plan (SIPP). UK-based customers, aged between 18 and 75, can start their pension plan with a minimum deposit or transfer of £10,000 ($13,540). Scalable Capital will manage the SIPP while AJ Bell acts as pension administrator and trustee.

http://www.altfi.com/article/4395_scalable-capital-partners-with-aj-bell-on-sipp

Scalable Capital’s investors can now invest their cash into a Self Invested Personal Pension plan (SIPP) on the digital wealth manager's platform and utilisng its investment strategy. UK residents between 18 and 75 years old can kick start their SIPPs with a minimum transfer or deposit of £10,000. The SIPP is invested and managed by Scalable Capital while AJ Bell, one of the UK’s largest pension providers, is the pension administrator and trustee. The total costs for Scalable Capital’s services are 1 per cent per annum broken down as 0.75 per cent for the digital wealth manager’s fee covering the investment management, custody and trading costs while 0.25 per cent includes third party ETF fees, ETF trading costs and bid-offer-spreads, the firm says. AJ Bell is also charging a one-off set up fee of £144 and an annual administration fee that depends on the value of the SIPP. For those with a pot below £25k this is £144 while those between £25-50k are charged £192. Pots over £50k are charged £240. AJ Bell also charges £72 for each transfer in. Scalable says the majority of pension transfers take around 4 weeks to complete but that some can take up to three months, depending on providers.

Azura Marine unveils solar-powered yacht

Singaporean boat manufacturer Azura Marine has revealed a $540,000 solar electric yacht, which reportedly can undertake non-stop ocean voyages. The Aquanima 40 series is designed for eight guests and features a 10 kW solar energy system and 60 kWh battery pack, meaning limitless cruising covering over 185 km per day with no fuel costs and no pollution. Furthermore, Azura claims that the electric motors require little maintenance, with bearing replacements necessary after 20,000 hours of usage. The yacht also includes a 56 sq metre rain catchment system, water-maker and air conditioning water recovery to remove the need for water stops.

https://electrek.co/2020/05/25/aquanima-40-series-electric-yacht-battery-solar-power/

Singapore-based Azura Marine unveiled a new $500,000 electric yacht that they claim can complete “non-stop ocean voyages powered only by sunlight.” The electrification of transport is slowly spreading into maritime transport. While the focus has been commercial vehicles like ferries, it is also reaching leisure and personal vessels. Azura Marine is the latest to enter the space with its first solar-powered catamaran yacht, the Aquanima 40 series, unveiled earlier this month in Bali, Indonesia. The company describes the electric vessel: “She is a unique 4 cabin, 8 guest yacht designed for extended cruising without any need for fossil fuels or refuelling stops of any nature. The Aquanima 40 solar-powered catamarans are also equipped with a 56 m2 rain catchment system, water maker and air conditioning water recovery – rendering water supply stops unnecessary too.” Here are a few pictures of the Aquanima 40 series solar yacht: Azura Marine claims that the vessel can continuously cruise thanks to its large 10 kW solar power system and 60 kWh battery pack. Here are some of the specs of the Aquanima 40 series: LWL 11,5 m LOA 13,25 m Beam 6 m Draft 65 cm Propulsion Power: 2 x 10 kW Solar Power: 10 kW Main Battery Bank Capacity: 60 kWh The company writes about the capacity of the electric vessel: “For the owner, this means limitless cruising with no fuel costs, no noise or vibration, no smells, no polluting emissions and no disturbance of marine life. The electric motors are virtually maintenance-free with only a couple of low-cost bearings to be replaced at 20,000 hours (more than a typical lifetime usage of a yacht).” Here are some pictures from inside the electric yacht: The company lists several amenities available onboard its new electric vessel: “The yacht offers all the comfort to be expected of a modern cruiser with air conditioning, fully equipped galley including ice maker, hob and sink. On this version, the bathroom and toilet is on main deck for greater ease of access as this vessel is strongly oriented towards enjoying the outdoors, exploring hidden bays with the electric dinghy or diving on pristine reefs. Onboard Solar Eclipse, all water is self-produced, including fresh and drinking water, thanks to the yacht’s water-maker, air conditioning water recovery system and gigantic rain water collecting solar roof. She features a high quality marine sound system and all round WIFI connectivity.” According to the company, the Aquanima 40 series can travel “more than 100 nautical miles (185 km) in a single day without stopping.” Azura Marine Co-Founder and CEO Julien Mélot commented on the launch of the new electric vessel: “it was an enormous thrill to launch the yacht last week and undertake her first few miles at sea. The yacht met all our expectations and while the design makes for near silent operation with exceptional responsiveness, it was incredible to actually experience it – and all in the knowledge that we were not producing any harmful pollution or emissions. With some strong winds and a very tight to enter marina berth, we were delighted by how easy the yacht was to manoeuvre. We simply cannot wait to take her out on her maiden voyage.” The base version of the Aquanima 40 costs €495,000 (~$540,000 USD) and it can be customized with a bunch of options by customers.

Inappropriate content can still be found on Pinterest

White supremacist propaganda and false information about vaccines are among the forms of content which can be found on social network Pinterest, an investigation by technology publication OneZero revealed. Unlike other social networks, such as Twitter and Facebook, that remove flagged content, Pinterest hides it away, stopping it from coming up in search results. Some content, however, can still be found if using coded search terms, the investigation uncovered.

https://www.independent.co.uk/life-style/gadgets-and-tech/news/pinterest-moderation-sexual-anti-vaxxer-right-wing-conspiracy-theories-a9616386.html

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails 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 Breaking News email {{ #verifyErrors }} {{ message }} {{ /verifyErrors }} {{ ^verifyErrors }} Something went wrong. Please try again later {{ /verifyErrors }} Pinterest, the curation social media site, has been hosting white surpremacist propaganda and sexualised photos of young girls. According to an investigation by OneZero, Pinterest’s moderation policy “hides” this content rather than removing it outright. Moreover, the website’s algorithm can, on occasion, actively recommend such images. In contrast to Facebook and Twitter, which removes content that does not apply by its policies, Pinterest instead attempts to limit what is revealed when users search for terms. This was seen when the company limited results for wedding venues or content that promoted former slave plantations, as well as tackling anti-vaccination content. “We block results entirely if we believe they are more likely to be unsafe, cause significant harm or pose an imminent danger,” Pinterest’s spokesperson told OneZero. “This blocking happens at the search query level, and doesn’t result in the removal of the underlying content, since not all of the results may violate our policies.” This policy means that “sexualized images of young girls hosted on the platform, some appearing to be children” were able to be discovered under a known code name for child pornography. Pinterest also had numerous Pinterest boards (collections of ‘pins’, the equivalent of posts) dedicated to the misinformed belief that vaccines cause autism, 5G causes autism, that Bill Gates is responsible for the coronavirus, and anti-vaccination merchandise. This is despite Pinterest's apparent crackdown on such content. The company had also taken steps against Qanon content, a conspiracy theory which suggests that an anonymous individual called Q is revealing information about a vast network of operatives secretly attempting to disrupt the Trump administration, and borrows from many other conspiracy theories such as Pizzagate, the Freemasons, and the Illuminati. Despite blocking the “WWG1WGA” acronym popular with Qanon supporters, Pinterest has not taken action against the alternative slogan “WWG1WGALL” and will auto-complete it if searched. The website also reportedly hosts books and images related to neo-Nazi groups. OneZero also reports that having found this content, Pinterest’s algorithm recommended more of it on its home page. “Generally speaking, we limit the distribution of or remove hateful content and content and accounts that promote hateful activities, false or misleading content that may harm Pinterest users or the public’s well-being, safety or trust, and content and accounts that encourage, praise, promote, or provide aid to dangerous actors or groups and their activities,” a Pinterest spokesperson told OneZero when questioned on such content. “While we work hard to identify and take action on this content so it won’t be discoverable, some violating content will sometimes appear in search engine results, even in instances where we have requested that it be removed.”

Online retailers move to capture more market share

While post-lockdown shoppers are returning to brick-and-mortar stores, Ocado, the UK’s on-line only grocer continues gain market (+1.8% in the four weeks to 9-Aug) and other retailers are adapting to cater for a longer term shift to on-line. Co-op has expanded its deal with Deliveroo to 400 stores and becoming the most widely available retailer on the app while Tesco’s is considering following Amazon’s lead offering Club Card Plus members free delivery.

https://retailanalysis.igd.com/news/news-article/t/gb-market-growth-slows-as-restrictions-ease/i/26519

In the 12 weeks ending 9th August take home grocery sales grew by 14.4%, according to Kantar. This was a slight slowdown compared to the 16.9% growth of the previous reporting period. Growth slowed as restrictions eased further and shoppers began to return to their normal habits, with average spend…

While Beijing fights climate change, Chinese corps set up coal plants

Despite Beijing stopping the creation of over 100 coal-fired power plants, new data has shown that China’s energy firms will represent almost half of all the coal generation expected to launch in the next ten years. Over 700 new coal plants in China and the rest of the world will be built by Chinese businesses, even in countries that do not currently burn coal, according to environmental company Urgewald. The use of these plants would severely hamper the meeting of the goals set by the Paris climate accord, which aims to hold global temperatures below 3.6 degrees Fahrenheit.

https://www.nytimes.com/2017/07/01/climate/china-energy-companies-coal-plants-climate-change.html?smid=tw-share

When China halted plans for more than 100 new coal-fired power plants this year, even as President Trump vowed to “bring back coal” in America, the contrast seemed to confirm Beijing’s new role as a leader in the fight against climate change. But new data on the world’s biggest developers of coal-fired power plants paints a very different picture: China’s energy companies will make up nearly half of the new coal generation expected to go online in the next decade. These Chinese corporations are building or planning to build more than 700 new coal plants at home and around the world, some in countries that today burn little or no coal, according to tallies compiled by Urgewald, an environmental group based in Berlin. Many of the plants are in China, but by capacity, roughly a fifth of these new coal power stations are in other countries. Over all, 1,600 coal plants are planned or under construction in 62 countries, according to Urgewald’s tally, which uses data from the Global Coal Plant Tracker portal. The new plants would expand the world’s coal-fired power capacity by 43 percent.

The Internet of Things and fan engagement

The IoT has been used for various sporting applications, such as tracking player statistics through wearables such as vests or connected cameras at the side of the pitches. This data visualisation and insight is increasingly popular with sports clubs and fans as a way to gain a competitive edge.

http://alexfenton.co.uk/the-internet-of-things-and-fan-engagement-part-4-of-5/

The term Internet of Things (IoT) dates back to 1999 and has become more popular in recent times to describe the network of various devices connected to the Internet. A poll on Consumer Affairs showed that although 70% of people owned an IoT device, only 20% had a firm grasp of the meaning of IoT. “The internet is no longer a web that we connect to. Instead, it’s a computerized, networked, and interconnected world that we live in. This is the future, and what we’re calling the Internet of Things.” – Bruce Schneier, NY Mag IoT devices are made smart by their connectedness and is a next evolution of computing. If you think about all of the things you own, so many of them now are computerised and connected. Connected devices include smartphones, laptops, vehicles, wearables such as wristbands, cameras, lightbulbs, Alexa and Google Home devices, smart appliances and many more. By 2015, there were 15.4 billion devices estimated to be part of the IoT and according to research by IHS Telecom, it is forecast to grow to 75.4 billion by 2025. IoT is also closely linked to ‘cyber-physical systems’ as described as the fourth industrial revolution or ‘industry 4.0’. “[Industry 4.0] combines aspects of the physical, virtual, IT and cybersystem worlds to help create a new working environment of integrated productivity between worker and machine.It represents a highly dynamic point of achievement, where every company, whether large OEM, major tier supplier or small job shop, can benefit from the technologies and the communication platforms emerging in the market today, some at the speed of light.” – Bernd Heuchemer – Siemens in Germany What this means is that the IoT and industry 4.0 also offers great potential for sports fans and clubs. The terms have become a little blurred and the 4.0 suffix has been used increasingly in different fields such as ‘digital 4.0’. Essentially, this is about embracing the potential of connected technologies to produce new things and engage a wider connected audience and of course, the smart use of data. The Internet of Things and fan engagement The IoT has been used for various sporting applications. The obvious ones are tracking player statistics through wearables such as vests or connected cameras at the side of the pitches. This data visualisation and insight is increasingly popular with sports clubs and fans as a way to gain a competitive edge. “Digital technology has brought elite athletes closer to amateur athletes and to fans…today’s amateur runner or cyclist can track his or her performance with a wearable digital band or mobile phone.” – Prof. Andy Miah – Sport 2.0 Our topic in hand though is about fan engagement. In part 1, we discussed the rise of smartphone social media apps as a way for fans to interact with each other and their favourite clubs before, during and after a game including in the stadium. Most fans own smartphones and these often come to live games as well, but what about the other smart IoT devices? Well first of all, smartphones, tablets and smart TV’s are the most obvious IoT devices which sports clubs can capitalise on. Aside from social media and apps, sports clubs are also taking advantage of OTT (Over The Top), streaming media with league and club TV channels. The ReThink TV report, highlights that streaming could account for $85 billion by 2024 for sports media rights revenues. Will sports leagues kill the golden goose for traditional broadcast business models? Not yet. To start, sports leagues will use OTT delivery as a complement to broadcast delivery. And broadcasters also aim to enhance their traditional offering with new OTT services. LaLigua announced that OTT is only 8% of its revenue, but it expects that to rise to be around 20% by 2022 and up to 50% by 2025. – Harmonic Clubs and stadiums continue to tackle the connectivity of their grounds. That is, improving the WiFI and Internet coverage to enable the devices to work. The rise of 5G also provides great opportunities for sports clubs. “The Vodafone Business Lounge, now open at the home of Wasps, the Ricoh Arena in Coventry, provides a space for businesses to collaborate, innovate and try out new technologies such as 5G, the Internet of Things (IoT) and high-speed fibre.” – Wired, 5G will change sport forever In this Guardian article, “IoT is revolutionising the world of sport“, they discuss the use of IoT including at the Six Nations Rugby tournament. This involved working with Accenture to install a new WiFi system at Twickenham to support their IoT proof of concept. They created a system using a wireless headset device to provide useful, real time information from the match to demonstrate a new way for fans to interact with live sport. Clubs are realising the benefits of IoT and the connected stadium. The 2014 World Cup in Brazil was branded as ‘the connected world cup’ and the most hi-tech in history. This included massive connection upgrades, connected cameras and turnstiles. The 2018 FIFA World Cup in Russia continued this trend. They created 1,300 new cell towers and 25km of fibre cable to improve connections for fans. The Luzhinki Stadium allowed up to 150,000 simultaneous fans to connect. And connectedness in stadiums continues. In England, Premier League side Spurs have built a new connected stadium where the IoT and technology is fundamental: “When you start with a blank piece of paper, and you decide to build a brand new stadium, then you have an opportunity to design and build your technology platform from scratch” – Sanjeev Katwa, Head of Tech for Spurs The video below demonstrates the use of data and IoT inside and outside of the stadium. So once the stadium is better connected, what can be done for fan engagement aside from social media? Well, Bluetooth beacons are one of the technologies that allow the IoT to enhance the stadium experience. They can be used to send specific messages to individual fans in particular zones, that could include greetings, special offers, news, games, seating upgrades and various other things. The location data gathered can be very useful to direct crowds and give personalised offers in realtime. The band features the club’s crest on its silicone strap, and delivers news and updates via a glass touch screen display. Fantom also offers fans near field communication (NFC) contactless ticketing and purchasing power. #WearableTech #Sports https://t.co/qTGpWB22Px Away from smartphones and connected stadia, wearables are another technology which have been used to capture data from players, but are now also being used for fan engagement. Manchester City launched the Fantom, which is a branded wristband which provides instant club updates. It’s also a match day companion which allows monitoring of match day spending and behaviour. The future challenges for IoT and fan engagement So far, we’ve discussed some of the various ways in which fans and clubs can benefit from the IoT, connected stadiums and devices. There are however a number of challenges to overcome in order to progress. These come primarily in the shape of security and privacy. For example, manufacturers of IoT devices and networks need to be mindful of the harmful potential they can unleash. Unsecured devices can be hacked and hackers can therefore use the devices for things such as domestic abuse or even to bring down whole networks. The market has been flooded with cheap connected devices which have been used by hackers to create denial of service attacks. “Hackers were able to harness tens of millions of unsecured smart devices like thermostats, home security systems and even printers to launch a massive denial-of-service attack against major web sites like Amazon, Netflix, and Twitter. The attack prevented consumers from reaching these sites for several hours.” – Mark Huffman, Consumer Affairs In terms of privacy – consumers are concerned that their data is not secure from hackers and brands which seek to monetise the data or use this for unknown purposes such as surveillance. In order for IoT to prosper therefore, manufacturers need to consider security more carefully and policy and standards need to prevent unsecured cheap devices and IoT abuse. Finally, brands need to be transparent about what data is being used for so that the IoT is genuinely improving the fan experience and not being used for nefarious purposes. What challenges or potential do you think the IoT has in store for sports clubs and fans in the future? I’d love to hear from you. In the final part (5) of our digital sport and fan engagement series, I cover smartphones and fan engagement.

Corporate balance sheets are the hidden risk to the US economy

Aside from S&P Global Ratings’ top 1% of companies, top companies in the US have seen rising debt and reduced credit ratings in recent years. Macy’s, for example, saw its credit rating fall to BBB in March as a result of increased competition from digital retailers, with oil company Hess having seen its credit rating restated to "junk status", largely resulting from falling oil prices.

http://www.dailymail.co.uk/wires/ap/article-3756594/The-hidden-risk-economy-corporate-balance-sheets.html

The hidden risk to the economy in corporate balance sheets NEW YORK (AP) — America has a debt problem, but it's not what you think. Yes, the federal government owes trillions of dollars more than it did a few years ago. Yes, Americans are still struggling to pay off mortgages and student loans. But it's the buildup in debt elsewhere that is most worrying some experts, and the big borrower this time may come as a surprise: Corporate America. You might think big U.S. companies, if anything, have been too conservative with their finances. They've collectively hoarded hundreds of billions of dollars in cash, instead of spending it to hire workers or expand their operations. FILE - In this Nov. 21, 2013, file photo, with the Empire State building in the background, the Macy's logo is illuminated on the front of the department store in New York. It turns out there¿s a wealth gap among companies, just like among people. Of the $1.8 trillion in cash that¿s sitting in U.S. corporate accounts, half of it belongs to just 25 of the 2,000 companies tracked by S&P Global Ratings. In March 2016, S&P cut its ratings on Macy's to BBB, two notches above junk, as competition from internet retailers continues to dig into the department store chain's sales. (AP Photo/Mark Lennihan, File) The reality is different, and more worrisome. Much of the cash is held by just a precious few companies, while debt is ballooning at other, weaker businesses as investors desperate for income rush to lend to them. These investors could face losses, perhaps steep, if economic growth falters. The broader economy is also vulnerable because companies with more debt have to cut back further and lay off more whenever downturns hit. "There's a misconception that companies are swimming in cash," says Andrew Chang, a director at S&P Global Ratings. "They're actually drowning in debt." It turns out there's a wealth gap among companies, just like among people. Of the $1.8 trillion in cash that's sitting in U.S. corporate accounts, half of it belongs to just 25 of the 2,000 companies tracked by S&P Global Ratings. Outside of Apple, Google and the rest of the corporate 1 percent, cash has been falling over the last two years even as debt has been rising. It now covers only $15 of every $100 they owe, less than it did even during the financial crisis in 2008 when finances were crumbling. You don't have to look hard to find other signs of trouble. The number of companies that have defaulted so far this year has already passed the total for all of last year, which itself had the most since the financial crisis. Even among companies considered high-quality, or investment grade, credit-rating agencies say a record number are so stretched financially that they're one bad quarter or so from being downgraded to "junk" status. Companies whose debt is already deemed "junk" are in the worst shape in years. To pay back all they owe, they would have to set aside every dollar of their operating earnings over the next eight and a half years, more than twice as long as it would have taken during the 2008 crisis, according to Bank of America Merrill Lynch. The problem with high debt is it leaves less wiggle room for even seemingly well-run companies if things go wrong. In March, S&P cut its ratings on Macy's to BBB, two notches above junk, as competition from internet retailers continues to dig into the department store chain's sales. The company's debt, net of cash, has risen over the past three years. Meanwhile, it has spent $5.2 billion buying its own stock, or $1.4 billion more than those shares are worth now, according to data provider FactSet. Companies often buy their shares and take them off the market to goose their earnings per share, a widely watched measure of success. Oil company Hess was also recently downgraded, mostly because of a plunge in oil prices beyond its control. But its own moves hurt, too. Instead of whittling away at its debt with the cash it raised in recent years from selling parts of its business, it has spent billions buying its stock. Moody's Investors Service cited Hess' heavy debt burden when it downgraded the company. Hess is what ratings agencies call a "fallen angel:" a formerly highly rated corporate borrower that was cut to junk and thus made too risky for many bond funds. Moody's tallied 55 other fallen angels in the first six months this year. Despite the warning signs, investors continue to lend to companies as if there is nothing to fear. They put a net $22.8 billion into mutual funds specializing in corporate bonds in the 12 months through July, lifting total investments via such funds to $144 billion, according to Morningstar. The headlong rush reflects desperation for something a little more rewarding than the stingy interest paid by Treasurys and other traditionally safe bond offerings. The yield on the 10-year Treasury hit a record low last month. Joseph LaVorgna, chief economist at Deutsche Bank, is worried about the risk posed beyond investment portfolios. He says mounting debt has made companies vulnerable to outside shocks — a natural disaster, for instance, or a spike in inflation or a sharp slowdown in China. A little bad news could force companies to pull back from spending and slam the economy. "It's like someone's immune system is weak," LaVorgna says. "If you run yourself down, you get sick." To be sure, few experts are so worried that they expect corporate debt to be the source of the next financial crisis. And not all the numbers on corporate debt are bad. Defaults are jumping, but they're mostly confined to energy companies hit hard by a collapse in oil prices. Exclude those companies, and defaults are still ahead of last year's tally, though not at a post-crisis high. And while debt is high, low interest rates have helped lighten the burden. Companies in the Standard and Poor's 500 index are generating enough operating earnings to pay the annual interest due on all their debt six times over, according to Goldman Sachs. That so-called interest coverage ratio isn't great, but it's not terrible, either. It was higher — meaning healthier — a few years ago before companies went on a borrowing streak, but it's not far off its long-term average. Chang of S&P Global says his company doesn't break out the numbers for the 1 percent versus the 99 percent, but doesn't think the ratios for the bulk of companies have gotten alarmingly worse. Chris Gootkind, director of credit research at fund company Loomis Sayles, says debt at many companies is still at a "reasonable" level, and thinks investors in corporate debt have gotten things largely right. The profits they've reaped have certainly been lucrative. Corporate bond mutual funds have returned an average of 9.5 percent this year, more than an S&P 500 index fund. "If the market gets concerned," Gootkind says, "they'll start demanding significantly higher rates." Of course, investors can get things horribly wrong. They didn't catch the last debt bubble, pouring money into bonds containing mortgages despite signs that homeowners couldn't afford them. The similarities to the last debt crisis may not end there. Like folks who kept refinancing their mortgages instead of paying them off, companies have "rolled over" their old loans by taking out new ones. This makes sense at many companies because interest rates are so low. But when things start falling apart, the high debt hurts. The largest owner of radio stations in the U.S., iHeartMedia, has paid off parts of its $21 billion debt several times since the financial crisis, but elected to do so with money raised from new loans. Its debt is no lower than it was since the crisis. Investors have been selling iHeartMedia's stock as advertisers that used to go on the radio migrate to online competitors. Its bonds have dropped sharply, too. In the past two years, the ones due in 2019 have plunged 25 percent. ------ Bernard Condon can be reached at http://twitter.com/BernardFCondon. His work can be found at: http://www.bigstory.ap.org/content/bernard-condon. FILE - This Sunday, Oct. 9, 2011, file photo shows 55 Water Street, home of Standard & Poor's rating agency, in New York. It turns out there¿s a wealth gap among companies, just like among people. Of the $1.8 trillion in cash that¿s sitting in U.S. corporate accounts, half of it belongs to just 25 of the 2,000 companies tracked by S&P Global Ratings. (AP Photo/Henny Ray Abrams, File)

New Industry 4.0 consortium created to help Germany's SME sector

A consortium, Labs Network Industrie 4.0, has been formed by companies Siemens, SAP, Hewlett Packard Enterprise, Giesecke & Devrient, German Telekom and FESTO, together with associations Bitkom, VDMA and ZVEI, with the aim of bringing Industry 4.0 technologies to Germany's small and medium-sized enterpise (SME) sector. Based in Berlin, the Labs Network Industrie 4.0 will be the first port of call for SMEs on matters relating to the development of Industry 4.0 solutions and for international enquiries; it will also advise on the available test environments in Germany and their specific application areas. Work is due to start this year. The network is impartial and all member companies will be treated on the same terms as founding members. Its creation strengthens Germany's pioneering role in the development of Industry 4.0. 

http://www.pressebox.de/pressemitteilung/bitkom-bundesverband-informationswirtschaft-telekommunikation-und-neue-medien-ev/Labs-Network-Industrie-40-unterstuetzt-den-Mittelstand-auf-dem-Weg-zu-Industrie-40/boxid/766562

Labs Network Industrie 4.0 unterstützt den Mittelstand auf dem Weg zu Industrie 4.0 Neue Anlaufstelle für Testumgebungen und internationalen Austausch zu Industrie 4.0 und Digitalisierung für den deutschen Mittelstand Die Unternehmen Siemens, SAP, Hewlett Packard Enterprise, Giesecke & Devrient, Deutsche Telekom und FESTO gründen zusammen mit den Verbänden Bitkom, VDMA und ZVEI zum IT-Gipfel das Labs Network Industrie 4.0 und vernetzen damit Industrie-4.0-Testumgebungen in Deutschland. Ziel der Gründungsakteure ist es, die Implementierung von Industrie 4.0-Technologien für den deutschen Mittelstand zu intensivieren und die dazu notwendige Struktur der Praxistests durch einen Trägerverein zu initiieren. Das Labs Network Industrie 4.0 wird als Erstanlaufstelle den deutschen Mittelstand bei Fragen zur Entwicklung von Industrie-4.0-Lösungen beraten sowie den internationalen Austausch darüber fördern. Dazu wird ein Netzwerk an Testinstallationen geschaffen, in dem Unternehmen für eine Vielzahl von Problemstellungen Lösungsansätze entwickeln können. Dies ist ein weiterer Schritt, um die Vorreiterrolle Deutschlands beim Thema Industrie 4.0 zu sichern. Das Netzwerk ist firmenneutral und ergänzt die Plattform Industrie 4.0 um ein wichtiges anwendungsbezogenes Element. Alle weiteren Mitgliedsunternehmen werden den Gründungsmitgliedern gleichgestellt sein. Sitz des Vereins wird Berlin; er wird noch in diesem Jahr seine Arbeit aufnehmen. Mit dem Labs Network Industrie 4.0 wird in Deutschland eine dezentrale Infrastruktur an Testumgebungen bereitgestellt. So können auch kleinere und mittlere Unternehmen Industrie 4.0 und Digitalisierungslösungen erproben. Das Labs Network Industrie 4.0 soll die erste Anlaufstelle sowohl für den deutschen Mittelstand als auch für internationale Anfragen werden und berät zu den verfügbaren Testumgebungen in Deutschland und ihren Anwendungsbereichen. Darüber hinaus hilft der Verein mittelständischen Unternehmen, Testszenarien zu spezifizieren und die passende Testumgebung für ihre jeweiligen Anforderungen zu finden. Sowohl Unternehmen, die Testumgebungen suchen, als auch Betreiber von Testinstallationen profitieren davon. Der individuelle Beratungsaufwand wird reduziert und die Ressourcen werden durch die Verteilung von Anfragen optimal ausgelastet. Die inhaltliche Vernetzung der Testumgebungen fördert den Ergebnisaustausch und unterstützt das gegenseitige Lernen. Ein erstes Projekt, welches die Synergien zwischen den Testfeldern nutzt, ist die Kooperation der SmartFactoryKL in Kaiserlautern und dem Smart Data Innovation Lab in Karlsruhe. Im Rahmen dieser Zusammenarbeit wird ein neuer, innovativer Ansatz zur vorausschauenden Wartung von Produktionsanlagen erprobt. Das Labs Network Industrie 4.0 dokumentiert diese Aktivitäten und unterstützt bei Bedarf die Veröffentlichung von erzielten Ergebnissen. Ein besonderes Augenmerk wird dabei auf Beiträge zur Standardisierung liegen, die in die einschlägigen nationalen, europäischen und internationalen Normungsorganisationen eingebracht werden sollen. Die vorgesehene bedarfsorientierte und flexible physische Vernetzung der Testumgebungen spiegelt die realen Anforderungen von Industrie 4.0 beim Überwinden traditioneller Unternehmens- und Technologiegrenzen wider und erweitert die möglichen Erprobungsfelder. Damit übernimmt das Labs Network Industrie 4.0 e.V. eine globale Vorreiterrolle, da es künftig nicht nur Einzellösungen, sondern die vernetzte Interaktion unterschiedlicher Lösungen ermöglicht. Mehrere Verbände und Organisationen haben ihre Unterstützung für die Arbeit des Labs Network Industrie 4.0 e.V. zugesagt und werden, neben weiteren Partnern aus Industrie und Forschung, in den Verein mit aufgenommen.

Facebook wants to buy publishers' shows outright for Watch

Facebook is seeking outright ownership of more of the content produced for its Watch channel, as publishers have accused the firm of moving the goalposts, according to anonymous insiders. They said in 2018, Facebook wants to create and own 'hero' shows, 15-minute programmes that will benefit from the company's deep pockets, but which offer limited monetisation opportunities for producers, who initially were able to retain ownership of the shows they created. Insiders said Facebook has offered back-end returns, but producers are skeptical about revenue levels.

https://digiday.com/media/facebook-wants-watch-shows-creating-dilemma-publishers/?utm_medium=email&utm_campaign=digidaydis&utm_source=uk&utm_content=171220

Facebook is increasingly asking for stricter terms for video shows it buys for Watch, including buying shows outright, sources said — a scenario that would limit the amount of money publishers can make from Facebook. As it heads into 2018, Facebook is increasingly seeking bigger-budget video shows that it can own outright, multiple Facebook Watch partners say. While Facebook’s initial wave of funding included buying short-form video series that it called “spotlight” shows, the platform plans to do away with the spotlight moniker and format and focus on longer programs with bigger budgets, partners said. As one Watch partner described it, Facebook is classifying programs as “hero” shows, which it buys and owns, and “ecosystem” shows, which video makers independently produce and upload to Watch. “We are in the middle of negotiations around a bunch more shows, and they’re saying that they’re shifting their deal terms. Basically, the spotlight deal you knew is going to be going away,” said the Watch partner. For the hero shows, Facebook is asking for programs with episodes lasting 15 minutes or longer, sources said. Facebook is willing to put more money toward these projects — while budgets will obviously vary, multiple Watch partners quoted potential budgets well into six figures per episode — but it increasingly wants to own these shows. This means the producer would only make the typical 10-15 percent profit margin that entertainment studios carve out for making TV shows, sources said. Facebook declined to comment for this story. “Coming from a production world, the margins are tight, and you’re getting squeezed everywhere. When you layer that model into an organization that’s traditionally based on media, it can be challenging,” said a second Watch partner. “But it also creates a new stream of revenue, which is not necessarily ad-based, which is much needed at this point.” The notion of owning intellectual property is taking on greater importance among digital media companies, which have started to make video shows for digital platforms and linear TV. If the publisher retains ownership of the show, it can generate another revenue stream by reselling or repackaging the show for other distributors in later windows — or even creating merchandise if the show is really successful. Facebook isn’t the first distributor to want total ownership of the content it buys. Netflix, for example, has been doing more of this. But Facebook initially allowed publishers to retain ownership of their shows, particularly the short-form spotlight shows for which Facebook only requested a two-week exclusivity period in its initial wave of funding. In more recent deals, Facebook has asked for longer periods of exclusivity. For 2018, Facebook is willing to offer back-end percentages — additional money the producer makes if a show’s revenue exceeds the production cost, said the first Watch partner. But there are doubts about whether this can bring in any meaningful revenue. Most back-end deals typically have the producer getting 1 or 2 percent of the profit, which means a show would have to make a lot of money beyond the initial production cost for the publisher to see a noticeable return. Facebook’s mid-roll ad breaks program has not worked out for publishing partners. In 2018, Facebook plans to test pre-roll ads within Watch, which could boost Watch-related revenues for Facebook and publishers. But that’s no guarantee, since most viewers are still discovering Watch shows within the news feed, and pre-rolls won’t show up for videos in the news feed. In essence, Facebook’s changing deal terms mean publishers might only be able to rely on the production margin to make money from Watch shows. “It’s going to come down to the amount of time required versus the return on money,” said the first Watch partner. “If I am developing a show, my first preference is to make sure that time spent goes into a piece of IP that I can retain ownership to and can monetize over time. If I just sell to the highest bidder now, it leaves me with nothing more than a margin.” Even within these constraints, some publishing sources argued that there is value in being a production shop for a big distribution platform like Facebook — as long as that’s not the only way the publisher is making money developing shows. “[Production] can be a good single piece to a bigger, multifaceted media business,” said Evan Bregman, director of programming for digital studio Rooster Teeth. “We’re never going to be in the position where the only thing we do is try and sell IP to other people; it’s one of the many things we do.” Plus, there is marketing value to having a show on a platform that has the potential to reach a lot of viewers. “People are willing to make a slightly worse deal on Facebook than they would with other platforms like Go90, which no one is really watching,” said a third Watch partner. “But that has its limits, too.” There are some signs that Watch monetization is poised to improve. According to a recent Ad Age report, Facebook is considering letting publishers sell ad inventory inside their Watch shows, something publishers have pressured Facebook to do. However, there’s no guarantee that Facebook letting publishers sell ads inside Watch will immediately make producing shows worthwhile. The pivot to video is hard, but the pivot to entertainment requires much more patience and a greater willingness to make upfront investments, according to Marc Hustvedt, CEO of Above Average. “You have to decide: Are you in the services business, or are you in the entertainment business?” said Hustvedt. “It’s OK to be in both, but know that when you’re talking about building entertainment franchises, it’s a hits business; some shows are going to perform great, and others are going to horribly underperform. That’s the risk of being in the business. That’s why you need a portfolio with different business models.”

Waitrose to sell iconic plant-based bleeding burger

Moving Mountains, producers of the UK’s first plant-based “bleeding” burger is launching its range of frozen, zero cholesterol meat-free alternative on the Waitrose on-line shopping platform. The iconic burger, previously only available at restaurants, and the rest of the Moving Mountains rage was recently added the range of cook-at-home frozen foods offered by Ocado.

https://www.feast-magazine.co.uk/shopping/moving-mountains-launching-into-300-waitrose-stores-nationwide-28946

Moving Mountains, the pioneering, independent British food tech brand that launched the UK’s first plant-based ‘bleeding’ burger, is partnering with Waitrose to meet growing demand for innovative plant-based meat and high quality frozen food in the UK. From July 2020, consumers will be able to purchase the Moving Mountains® ‘Bleeding’ Burger, Sausages and Sausage Burger in 300 Waitrose stores nationwide and via the retailers’ e-commerce platform. The range of frozen products are 100% plant-based, packed with plant protein and contain zero cholesterol. This development is part of Moving Mountains® accelerated growth plan to meet burgeoning demand for innovative plant-based and high quality frozen products that can be stored amidst the current climate of Covid-19. Indeed, sales of meat free products soared by 18% last year to £474.5 million, with particular demand from flexitarians, who amount to 21% of the UK population. Demand for frozen food leapt by 16.1% to £194.8 million in the 12 weeks to 18th April 2020 and sales have continued to remain elevated. During a period where consumers are spending more time in the kitchen than ever and looking for delicious yet healthy products, Moving Mountains® is dedicated to providing compelling plant-based choices to the nation, that are suitable for a multitude of eating occasions. This is one of the first times that the Moving Mountains® iconic Bleeding Burger (RRP £4.50) will be available to consumers outside of restaurants, with seven million of the revolutionary patties sold in the last year in restaurants alone. Institutions like Hard Rock Cafe and Planet Hollywood are among the 3,000 outlets serving the burger nationwide. Made from 100 per cent plant meat, 0 per cent cow, the Moving Mountains® Burger looks just like a regular patty. When cooked in the pan or BBQ it sizzles, smells and browns just like the real thing. And just like the very best juicy burger, when perfectly cooked, the Moving Mountains® Burger bleeds through the middle – with beetroot juice instead of animal blood. The Moving Mountains® Sausage Burger (RRP £4.50) is a trailblazing innovation. Delicately seasoned and made from a combination of oyster mushrooms, pea and wheat protein, the plant-based Moving Mountains® Sausage Burger combines the look and texture of a traditional sausage patty with the taste of pork. It can be enjoyed at any time of day, whether at breakfast in a muffin, for lunch in a burger bun or as part of a delicious roast dinner alongside apple sauce and all the trimmings. The 4oz burger can be cooked in just 12 minutes from frozen in a frying pan. The Moving Mountains® Sausage (RRP £4.50) is made from nutrient-rich vegetables, including oyster mushrooms and beetroot, and is deliciously seasoned with pepper and nutmeg. Its texture and succulence is identical to an artisanal sausage with a mind-blowing plant-based skin and satisfying bite.

XL Catlin adds commercial bonds to PRCB offering

Bermuda-based firm XL Catlin's Political Risk, Credit and Bond team has launched a suite of commercial bond products aimed at public and private companies across a range of sectors, including manufacturing, real estate, energy and education. The bonds come with one of the market's strongest credit ratings, with up to $100m single limits capacity. Their launch follows the appointment in May of Maria L Duhart to lead the Commercial Bonds underwriting team.

http://www.prnewswire.com/news-releases/xl-catlin-adds-commercial-bonds-to-political-risk-credit-and-bond-insurance-product-suite-300490118.html

NEW YORK, July 19, 2017 /PRNewswire/ -- To further support customer's national and international transactions, XL Catlin has launched a suite of Commercial Bonds for clients across the public and private sectors in the United States. By offering a wide range of commercial bonds, we can service a variety of industries including manufacturing, real estate, energy, education, technology, financial institutions and retail. XL Catlin's Political Risk, Credit and Bond (PRCB) insurance team now offers commercial bonds to Fortune 1000 accounts, public and privately owned, from middle market to multinational companies. The commercial bond products include supply, customs, license and permit, lost instrument, court bonds (appeal, replevin, injunction, admiralty), depository, performance and payment for service providers, subdivision, reclamation, closure / post closure, workers compensation, utilities. Dan Riordan, Global Head of PRCB said "As a leading market for PRCB business, we are relentlessly focused on strengthening our capabilities and product offering. We have set up a team of experts with a wealth of experience in the commercial bond space which will further support the needs of our clients and partners across multiple sectors and industries." The launch of XL Catlin's Commercial Bonds follows the May 1st, 2017 appointment of Maria L. Duhart to lead the Commercial Bonds underwriting team. Ms. Duhart is now joined by Patrick Dougherty who has been appointed Regional Director of Commercial Bonds for the Mid Atlantic and Northeast Regions of the US. XL Catlin's commercial bonds are backed by one of the strongest credit ratings in the market with up to $100 million single limits capacity. For a full list of specialized commercial bonds visit: XL Catlin Commercial Bonds. XL Catlin offers political risk, credit and bonds to clients involved in trade, finance, infrastructure, energy, and other sectors. Clients include multinational companies, financial institutions, exporters and manufacturers, commodity traders, and export credit agencies and development finance institutions. About XL Catlin Insurance Operations XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally. Businesses that are moving the world forward choose XL Catlin as their partner. To learn more, visit xlcatlin.com. About XL Catlin XL Catlin is the global brand used by XL Group Ltd's (NYSE: XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com . Contact: Brenna Ruiz-Gordon Media Relations +1 (212) 915-7052 SOURCE XL Catlin Related Links http://xlcatlin.com

CPMs on Facebook increased by average of 51% over past 14 months

The rising cost of impressions for advertisers could be a bigger concern with Facebook than privacy fears, writes Andy La Fond, executive media director at R/GA Chicago, in AdExchanger. Cost per thousand impressions (CPMs) on the social media site have risen by an average of 51% over the past 14 months, AdStage data showed. The increase could be due to a number of factors, including changes to the Facebook news feed and users spending less time on it amid concerns over privacy. But regardless of the cause, brands may consider other social platforms.

https://adexchanger.com/data-driven-thinking/privacy-concerns-may-not-hurt-facebook-but-rising-cpms-might/

“ Data-Driven Thinking” is written by members of the media community and contains fresh ideas on the digital revolution in media. Today’s column is written by Andy La Fond, executive media director at R/GA Chicago. Facebook and concerns about privacy have been in the headlines since March, but that news may have hidden a bigger problem for Facebook: the rising cost of impressions for advertisers. CPMs – the cost per thousand impressions – on Facebook have increased by an average of 51% over the past 14 months, according to data from AdStage. Year-over-year increases spiked in January at 122%. Increases in the past year follow a 41% increase between the end of 2015 and the end of 2016, based on data from eMarketer. Several factors are likely driving the CPM increases. Facebook’s changes to the news feed have caused some users to spend less time in the app, reducing the number of impressions available with some audiences. Some users may also be spending less time on Facebook because of privacy concerns or changing preferences for different social apps. At the same time, advertiser demand has likely increased because Facebook has restricted organic reach and continues to deliver broad reach with paid placements. Positive campaign performance, especially for direct-response advertisers, likely has led to more advertiser spend on Facebook. Regardless of the cause, CPMs that continue to increase will make Facebook less attractive, relative to other media and digital channels. Some advertisers use marketing-mix models that once favored social media and Facebook in past years, based on the relatively low CPMs. Low CPMs have also offset the lower viewability, video view rates and view times on Facebook, allowing the platform to effectively compete for video dollars. With Facebook CPMs creeping above $6-$8 for some campaigns, the marginal value will decline and the effective viewable CPMs could be higher than other digital channels. CPMs consistently above $8 may start to impact advertiser demand as brands reconsider Facebook relative to programmatic display or other social platforms. Improvements in campaign measurement and direct-response conversion rates may offset the rising CPMs. As long as direct-response advertisers see better costs per acquisition – a result of more effective targeting and ad products – they may ignore CPMs. For brand advertisers, Facebook has been making added-value brand lift and sales lift studies available, which give marketers a way to understand campaign value beyond CPMs. However, for many brand advertisers, CPM – and the total reach and frequency from a campaign – will remain a key buying metric. CPM will still be a key input for marketing-mix and ROI analyses. Lower CPMs are often the most straightforward way to improve the overall results for a channel or campaign. Guidance from Facebook, in response to this issue, has focused on following best practices. That includes broadening the audience, scale and placement types for a campaign. Creatively, Facebook recommends a mobile-first strategy and an emphasis on vertical formats and short videos or executions that include motion or animation. Buying in auction instead of using Facebook’s fixed-CPM “reach and frequency” option may help advertisers see lower CPMs, but it also makes the overall campaign reach and frequency more unpredictable. Advertisers who see rising CPMs on Facebook can follow those guidelines to optimize campaigns. Ultimately, keeping options open with other platforms provides the best safeguard against higher prices on Facebook. Expected CPMs on Snapchat have been lower than Facebook recently. YouTube TrueView comes with a higher CPM but also delivers higher view times and view rates. Pinterest can be relevant for many verticals, especially those with a DIY or curation component. Display ads are often maligned, but, with the right creative, can be effective brand and sales drivers for some advertisers. Many options are available, and the simple economics of rising prices may be, in the end, what loosens Facebook’s grip on digital advertising budgets. Follow R/GA (@RGA) and AdExchanger (@adexchanger) on Twitter.

Shipping industry launches new cyber security guidelines

Cyber security guidelines have been issued to help avert major safety, environmental and commercial risks that could lead to a cyber security attack onboard a ship. Launched by shipping associations including the Baltic and International Maritime Council (BIMCO) and other stakeholders, this marks the first attempt within the industry to tackle cyber security. Among the issues that the report highlights is the increasing internet usage connecting the ship and onshore services making onboard systems vulnerable to cyber security threats. Similarly, the introduction of malware into a ship’s computer system aimed at acquiring sensitive commercial information is highlighted as a potential problem. BIMCO security general Angus Frew said: “The aim is to provide the shipping industry with clear and comprehensive information on cyber security risks to ships enabling ship-owners to take measures to protect against attacks and to deal with the eventuality of cyber incidents.”

http://www.ship-technology.com/news/newsnew-cyber-security-guidelines-launched-for-shipping-industry-4768264

A new set of cyber security guidelines has been launched for the shipping industry, the first such guidelines designed to assist global firms to tackle potential cyber attacks. Launched by Baltic and International Maritime Council (BIMCO) along with other shipping associations such as CLIA, ICS, Intercargo and Intertanko and other stakeholders, the guidelines will assist shipping industries to avert major safety, environmental and commercial risk that can culminate to a potential cyber security attack onboard the ship. BIMCO security general Angus Frew said: "The aim is to provide the shipping industry with clear and comprehensive information on cyber security risks to ships enabling ship-owners to take measures to protect against attacks and to deal with the eventuality of cyber incidents. "The guidelines launched today should help companies take a risk-based approach to cyber security that is specific to their business and the ships they operate." "The guidelines launched today should help companies take a risk-based approach to cyber security that is specific to their business and the ships they operate." According to the guideline draft, the increased usage of internet to ensure connectivity between the ship and the services offered at the shore make the onboard systems vulnerable to cyber security threats. Additionally, the system can either be hacked by introducing malware aimed at acquiring sensitive commercial information, from an email with detailed ship itineraries sent to unknown people, to the full-scale subversion of a company’s shore-based IT system, or the potential compromising of systems on board ships. Personnel may be tricked into divulging confidential information to the potential hackers. In order to take control of such potential threats, the shipping industries are urged to determine the criticality of the onboard systems that is connected to an uncontrolled network and subsequently initiate risk-based measures, specific to their business. BIMCO seeks to incorporate an array of measures into the onboard systems which include, the cargo management systems, bridge systems, propulsion and machinery management and power control systems, access control systems, passenger servicing and management systems, passenger facing public networks, administrative and crew welfare systems and communication systems. Keeping in view, the changing trend of cyber security threats, BIMCO and other shipping associations vow to review the guidelines on a regular basis, to equip the maritime enterprises with updated information to combat cyber attacks.

Motherhood still the biggest reason for gender wage gap

The average income of women falls sharply after the birth of their first child, while becoming a dad has a very limited impact the CPB said in a report on Thursday.The wage gap between men and women arises in the first two years after the birth of the first child, and the child penalty does not decrease in the first eight years of the child's life.On average, women earn 39 percent less than men in the first eight years of being parents.

https://nltimes.nl/2019/09/12/motherhood-still-biggest-reason-gender-wage-gap

Parenthood remains one of the biggest causes of the wage gap between men and women. The average income of women falls sharply after the birth of their first child, while becoming a dad has a very limited effect on men's income, central planning office CPB said in a report on Thursday. CPB calls this the 'child penalty', NU.nl reports. The wage gap between men and women arises in the first two years after the birth of the first child, and the child penalty does not decrease in the first eight years of the child's life. On average, women earn 39 percent less than men in the first eight years of being parents. According to CPB, it seems that preferences and established gender role patterns play an important role in the wage gap. The decrease in income is mainly due to a decrease in the number of hours worked. With a child penalty of 39 percent, the Netherlands scores worse than Denmark where the child penalty is 21 percent, Sweden at 27 percent, and the United States at 31 percent. Countries that scored worse than the Netherlands include the United Kingdom with a child penalty of 44 percent, Austria at 51 percent, and Germany at 61 percent. The CPB also noted that the labor participation of women rose sharply in the Netherlands over the past decades. This has to do with an increase in education level, the fact that women have children later, and the change in cultural norms. Government policy also played a role. "Because the labor participation of women is already high, it is becoming increasingly difficult to increase it even further", the CPB said. "Because they do a lot of part-time work, there is more room to stimulate the amount of hours worked."

NASA Advances Plans for Robotic and Crewed Moon Landings

Of these nine providers, three were selected as part of the first task order to deliver NASA payloads to the lunar surface: Orbit Beyond, Astrobotic, and Intuitive Machines.When NASA released the original solicitation for the Human Landing System (HLS), the vehicle landing on the lunar surface was broken down into three elements.If a problem occurs during any phase of descent or on the lunar surface, the HLS is expected to be capable of aborting and returning the crew to the Gateway.

https://www.nasaspaceflight.com/2019/08/nasa-advances-robotic-crewed-moon-landings/

NASA’s plans to land both robots and humans on the moon have taken several steps forward. A solicitation for scaled-up robotic landers has been released by the Commercial Lunar Payload Services program, and plans for human moon landers have changed to make room for more innovation by private partners. NASA will be supporting the development of these vehicles with new partnerships, aiming to mature technologies for both Moon and Mars missions. Scaling Up Robotic Landers The Commercial Lunar Payload Services (CLPS) program is how NASA plans to land uncrewed research missions on the moon in support of the crewed Artemis program. Providers are asked by NASA to provide end-to-end transportation from Earth to the lunar surface, including both launch services and a lunar lander. The first phase of the program saw nine companies selected to be eligible to bid for transportation services. Of these nine providers, three were selected as part of the first task order to deliver NASA payloads to the lunar surface: Orbit Beyond, Astrobotic, and Intuitive Machines. Orbit Beyond was expected to be the first of these providers to launch their mission under the first task order, no earlier than 2020. However, due to “internal corporate challenges” that precluded Orbit Beyond’s ability to fly on time, NASA has released the provider from the first contract. Orbit Beyond is still eligible to compete for future CLPS task orders, along with the nine other selected providers, and the first landing under the CLPS program by either Astrobotic or Intuitive Machines is on track to occur in 2021. When Intuitive Machines was selected by NASA, they also announced their selection of SpaceX’s Falcon 9 rocket to launch their Nova-C lander. Astrobotic had not yet selected a launch vehicle. That changed this week when Astrobotic selected United Launch Alliance’s Vulcan Centaur rocket. Peregrine will be on the maiden flight of ULA’s new launcher and will lift off from Cape Canaveral, Florida in 2021. https://twitter.com/tgmetsfan98/status/1163527402074587141?s=21 A new solicitation released by NASA is now calling for additional companies that can become eligible for task orders, alongside the already selected providers. The new companies are being asked to develop vehicles that can land larger and heavier payloads on the lunar surface in support of science and exploration goals. One intriguing detail included in the solicitation is the possibility of co-manifesting payloads aboard the lunar lander. It is specified that providers can utilize capacity not used by NASA for other payloads, whether they belong to the provider or a commercial customer, as long as they do not interfere with the NASA payloads. This could provide further incentive and opportunity for providers as they scale up their landers for larger payload capacities. Proposals for this solicitation are due August 29, with contract award(s) anticipated on October 15. Opening the Door for Integrated Human Landers Informed by research conducted and vehicles developed under CLPS, the Artemis program is preparing to return humans to the lunar surface. When NASA released the original solicitation for the Human Landing System (HLS), the vehicle landing on the lunar surface was broken down into three elements. The transfer, descent, and ascent elements were expected to be built by different companies, launched separately, and assembled at the Gateway in lunar orbit. NASA has now revised the solicitation to allow companies to propose systems which integrate multiple elements into a single-vehicle. A Concept of Operations document released with the updated solicitation details the requirements and constraints pertaining to the HLS, and the role that the vehicle will play in Artemis missions. The Gateway will still act as a staging point for missions to the lunar surface, including the assembly of the HLS if necessary. HLS elements will be launched aboard either a commercial rocket or the Space Launch System, with the launch vehicle responsible for Trans-Lunar Injection. The HLS will utilize NASA’s Near Earth Network for communications in Low Earth Orbit. For Trans-Lunar Injection and beyond, communications will switch to the Deep Space Network. A low energy mission profile can allow the HLS to efficiently insert into the Gateway’s Near-Rectilinear Halo Orbit (NRHO), a trajectory that lasts 120 days or longer. An alternate trajectory including a lunar flyby can reach the Gateway in only a few days but requires more energy. The initial configuration of the Gateway will only include assets required to enable a crewed landing by 2024. This configuration will have two docking ports, one for the Orion crew vehicle and one for the HLS. More docking ports will be added as the Gateway and the Artemis program evolve into a more sustainable capability. If the HLS requires assembly at the Gateway, other elements can loiter in the vicinity of the Gateway without docking. This would involve a minimum distance from the gateway and active control of the element. Notably, NASA says that the Canadian Space Agency’s robotic arm will not be available for berthing or assembling vehicles in the Gateway’s initial configuration. While no docking rules have been written for the HLS yet, the rules pertaining to vehicles visiting the International Space Station (ISS) provide insight into how docking with the Gateway might work. Currently, crewed spacecraft cannot be berthed to the ISS because of a possibility of the robotic arm failing and stranding the crew. Thus, all crewed vehicles must dock, not berth, even once the configuration of the Gateway evolves to include the robotic arm. Uncrewed elements of the HLS may be captured by the robotic arm and berthed, once the arm is operational. Once the HLS is assembled and docked to the Gateway, checkouts of HLS readiness for descent and landing will be conducted, prior to the crew’s launch from Earth. Once the HLS is ready, the crew will launch from Earth in the Orion spacecraft aboard the Space Launch System, on a fast trajectory to the Gateway. Descending to the Surface In the initial capability phase, only two of Orion’s four crew members will board the HLS to descend to the surface, with the other two staying aboard Gateway. Sustainable phase missions will include all four crew flying to and from the lunar surface. The HLS is required to accommodate internal volume and equipment for spacesuit assembly and checks, as the Gateway will not have suit servicing hardware in the initial capability phase. The HLS will also require either an airlock or the ability to depressurize and repressurize the cabin, in order to support lunar surface EVAs. Once all checks are complete, the HLS will maneuver from the Gateway’s NRHO to a Low Lunar Orbit (LLO). This transit will nominally last 12 hours. NASA anticipates that a three-revolution loiter in LLO will be required to update the vehicle’s navigation systems sufficiently to achieve 50-meter landing precision. That level of precision is a long term objective, with an initial goal of 100-meter precision. The initial focus will also be limited to polar landings, eventually evolving to landing at any point on the lunar surface. From Low Lunar Orbit, the HLS will progress through four phases of descent to the lunar surface. The first phase, Descent Orbit Initiation, will begin lowering the HLS orbit’s perilune. Then, during Powered Descent Initiation, the HLS will slow enough for its trajectory to intercept the lunar surface and for the lander to reach a sufficient altitude for the Approach phase. During Approach, the vehicle will perform a slew maneuver to allow the crew to view the landing site. Finally, Terminal Descent and Touchdown is the vertical descent to the surface, touching down at a targeted velocity. If a problem occurs during any phase of descent or on the lunar surface, the HLS is expected to be capable of aborting and returning the crew to the Gateway. Likewise, if a problem arises during ascent from the surface, the HLS must include a capability to abort to a stable LLO to await rescue. While on the surface, the crew will live and work out of the HLS for as long as six and a half days during the initial capability phase. Two crew members will execute up to five EVAs per mission to pursue research and exploration goals. NASA specifies that the HLS must support an EVA duration capability of eight hours, with eight to twelve hours between EVAs to recharge the suits. Once all four crew members can fly to the lunar surface, the two EVA crew will communicate with the crew in the lander, who will be communicating with Earth through the Deep Space Network. In this respect, the HLS will act as a relay and control center for lunar surface EVAs, since the EVA suits will not have direct communication with controllers on Earth. Like the descent, the ascent from the lunar surface to the gateway is separated into four phases. The Powered Ascent phase to LLO will precede a Loiter phase to correctly phase with the Gateway’s orbit. Then, a Cruise phase to transit from LLO to NRHO. Finally, the Rendezvous and Docking phase, which will follow the same docking rules as the HLS’s initial arrival at the Gateway. The entire Earth-to-Earth round trip mission duration for the crew must be less than 30 days according to the HLS solicitation. While the HLS must be reusable to be sustainable, the initial capability described by NASA does not require reuse. Any elements not initially reusable must be properly disposed of from the Gateway in compliance with planetary protection protocols. Partnering with Industry for Technology Development A key to assuring the CLPS and Artemis programs succeed will be NASA’s support of commercial companies. Several of the companies that will likely be involved in these programs were recently selected for partnerships with NASA centers. These partnerships open NASA’s expertise and facilities in the hopes of facilitating technologies the agency needs for future missions to deep space. One of the big names involved in these partnerships is Blue Origin, which was selected for three partnerships with five NASA centers. The Johnson Space Center and Goddard Space Flight Center will work to mature a navigation and guidance system for precise lunar landings, a key requirement for the HLS. Johnson and the Glenn Research Center will also work to mature fuel cells for Blue Origin’s Blue Moon lander, which is intended to be scaleable to both CLPS and HLS payload capacities. In order to develop propulsion for these landers, Blue Origin will also partner with the Marshall Space Flight Center and Langley Research Center to evaluate materials for liquid engine nozzles. Another well heard of company partnering with NASA is SpaceX. They will be working with the Kennedy Space Center to model engine plume interactions with the lunar regolith, in order to facilitate landing large rockets vertically on the moon. SpaceX is also partnering with the Glenn and Marshall centers to mature in-orbit propellant transfer technology for their Starship vehicle, a key technology for taking advantage of the launch system’s large payload capacity. Not only are the big “new space” companies getting involved. Three well-established aerospace companies are also taking advantage: Aerojet Rocketdyne, Lockheed Martin, and Sierra Nevada Corporation. Aerojet Rocketdyne will partner with NASA Marshall to design and manufacture a lightweight combustion chamber intended to reduce manufacturing costs. Lockheed Martin, one of the nine CLPS providers, will partner with NASA Langley to test solid-state processed materials designed to improve spacecraft operating in high-temperature environments. Another partnership with Kennedy will test autonomous in-space plant growth systems, which could provide food and/or breathable air for long-duration human spaceflight. Not all of the partnerships are limited to the moon, as some look forward to Mars missions. NASA Langley is partnering with Sierra Nevada Corporation to capture infrared imagery of their Dream Chaser cargo spacecraft, which is currently scheduled to make its first flight to the ISS no earlier than next year. SNC will also work to mature a deployable decelerator for use in recovering the upper stage of a launch vehicle. This technology is likely similar to NASA’s Low Earth Orbit Flight Test of an Inflatable Decelerator (LOFTID) project, launching in 2022, which also has applications for entering Mars’s atmosphere. Several other companies, including small businesses, will be partnering to develop various technologies in the areas of communications, materials, entry descent and landing (EDL), in-space manufacturing, and propulsion. NASA hopes these new technologies result in new commercial capabilities that the agency can utilize to achieve their deep space exploration goals at the Moon and Mars.

Google remains wary of AI's potential to destroy jobs

Search giant Google regards artificial intelligence (AI) as a double-edged sword, with the technology bringing both gains and disadvantages to society, according to co-founder Sergey Brin's annual Founders’ Letter. He talked up the many benefits of Google's AI, from language translation to diagnosing disease. However, Brin also warned of AI's impact on the jobs market and its use to manipulate public opinion, and said the future should be approached with "responsibility, care and humility".

https://www.theverge.com/2018/4/28/17295064/google-ai-threat-sergey-brin-founders-letter-technology-renaissance

Google co-founder Sergey Brin has warned that the current boom in artificial intelligence has created a “technology renaissance” that contains many potential threats. Writing in the company’s annual Founders’ Letter, published Friday, the Alphabet president struck a note of caution. “The new spring in artificial intelligence is the most significant development in computing in my lifetime,” writes Brin. “Every month, there are stunning new applications and transformative new techniques.” But, he adds, “such powerful tools also bring with them new questions and responsibilities.” Brin starts his letter by quoting the opening lines of Charles Dickens’ A Tale of Two Cities — “It was the best of times, it was the worst of times.” He notes how computing power has exploded since Google was founded in 1998, and how, at that time, the technique which now forms the backbone of contemporary AI, neural networks, was just “a forgotten footnote in computer science.” “The most significant development in computing in my lifetime.” The revolution in machine learning in the past decade has changed that, and Brin lists some of the many ways AI is used to power Alphabet services and companies. It analyzes images in Google Photos; translates over 100 languages in Google translate; powers the navigation systems in Waymo’s self-driving cars; and even helps diagnose disease and discover new planetary systems. “In this sense, we are truly in a technology renaissance, an exciting time where we can see applications across nearly every segment of modern society,” writes Brin. But, he says, AI poses a number of problems too, “from the fears of sci-fi style sentience to the more near-term questions such as validating the performance of self-driving cars.” Brin says Alphabet is giving “serious thought” to a number of these issues, including how AI will affect employment; the challenges of making unbiased and transparent algorithms; and the fears that this technology will be used to “manipulate people.” (This is most likely a reference to recent discussions of AI-generated fake news.) Notably, though, Brin does not mention one controversial use of AI that is particularly relevant to Alphabet: military applications. Earlier this year, it was revealed that Google was helping the Pentagon deploy machine learning tools to analyze video surveillance footage from drones. The company has said the tech is for “non-offensive uses only,” but thousands of Google employees have demanded that the company withdraw from the project. Brin’s letter also comes at a time when Silicon Valley firms are facing more scrutiny than ever, with governments and the public come to terms with their huge size and wealth. Last week’s tech earning reports will have done nothing to dispel such fears, as Alphabet reported a 26 percent increase in revenues to $31.1 billion, and Amazon’s earnings jumped up 43 percent year on year, with first quarter sales of $51 billion.

AI start-up Knowhere fuses human intuition and robo-journalism

AI start-up Knowhere claims its software defeats the growing problem of fake news by offering unbiased news from comparisons of multiple sources in multiple languages, with the resulting draft checked by humans. CEO Nathaniel Barling said the software combined a machine’s ability to analyse data quickly and unemotionally with human talents for narrative-building. If a source is biased, readers have a choice of left-leaning or right-leaning versions or, for some stories, an impartial version. Barling said AI can be as biased as the humans who create it so the company trained the software to avoid bias as much as possible.

https://mic.com/articles/188748/ai-startup-seeks-to-create-unbiased-news-by-combining-human-intuition-with-algorithm-based-research#.ovbISboq2

It’s hard to trust the news in 2018. People rely on non-biased reporting from journalists. If it’s not tainted local news coloring people’s opinions, it’s social networks that serve the exact kind of news it thinks people want to see. The AI startup Knowhere says it knows how to disrupt news: by letting readers choose their preferred political leaning while reading an article, or offering a computer-assembled “impartial” view. “We see it as a partnership between people and machines,” Nathaniel Barling, Knowhere’s co-founder and CEO, said in a phone interview. “Machines are good at analyzing vast amounts of data quickly and unemotionally, but humans are better at editorial decisions like fact-checking, narrative-building and general common sense,” he said. Barling said the software that he, Dylan Rhodes and Alexandre Elkrief built scours the web for information on a topic the Knowhere News site seeks to cover. Each day, the software looks at the stories that were shared the most and which publications covered it. The algorithm is able to do things that many news-writing humans who aren’t data journalists couldn’t, like quickly examine sources in multiple languages. Unfortunately the computers can’t do everything real journalists can do. Once the computers rank which stories are worth covering, humans step in. “Story prioritization is then reviewed by our editorial team who make the final call,” Barling said. The founder admits bias can certainly creep in at this step. The algorithm looks at the chosen stories and can spit out a draft, which, according to Barling, is then checked by human editors who hail from the news industry. The service has seven people working on the tech side and nine people on the editorial news side, the CEO told Mic. The result is a news story like this, which Knowhere marks at the top with “Impartial.” Knowhere When a story may contain bias, Knowhere offers a choice at the top to see the left-leaning version, right-leaning version or the impartial version of the article. The impartial headline reads “US to add citizenship question to 2020 census” while the left-leaning headline says “California sues Trump administration over census citizenship question.” When switched to the right-leaning view the headline changes to: “Liberals object to inclusion of citizenship question on 2020 census.” Knowhere The left-leaning version of the story quotes the National Association of Latino Elected and Appointed Officials Education Fund, saying that the addition of a citizenship question “would have catastrophic consequences for Latinos and all Americans.” Meanwhile the right-leaning article sources Breitbart News to say “the move will result in a more accurate estimate of the illegal alien population and better unemployment data.” Software is biased by those who create it, but Knowhere thinks it has the answer It’s well noted that news media affects voting and that the news itself is biased. As Pew Research notes, people’s faith in news media can affect other things like “trust in one’s national government and a sense that the economy is doing well.” Knowhere’s real value may stem from its ability in presenting both sides at the same time, and tossing in an impartial version to boot. But artificial intelligence tends to be as biased as the humans who mold it. The same is true for algorithms that gather news, which Knowhere says it addressed early. “To train the algorithms we started by labeling stories ourselves,” Barling said. “We soon realized that, if we couldn’t tell a story’s political leaning, we would look at the publication name or the author. To fix this, we looked at just the story — not the byline or name of the source.” The prevalence of fake news and AI created to mislead voters is enough to make anyone want to give up on news, but Knowhere sees it as an opportunity. “Facebook showed us that we can’t trust the current way, it just doesn’t fit in the modern world,” Barling said. “Social media uses news algorithms to optimizing capturing your attention, but AI is better used to optimize telling the truth.”

McCain’s profits fall 63% due to poor potato harvest

UK based frozen food manufacturer McCain has seen the worst potato harvest in 40 years due to poor weather conditions for farming. They have seen a sharp drop in their operating profits falling from £57.6m this time last year to £21.3m a drop of 63%. However, their overall revenues have only dipped 0.3% to £509.9m.

https://www.thegrocer.co.uk/results/poor-potato-harvest-hits-mccain-profits/646316.article

Profits more than halved at frozen foods specialist McCain last year as “one of the worst potato harvests in 40 years” hit its bottom line. Newly filed accounts for the year to 30 June 2019 show McCain’s operating profits fell 63% to £21.3m from £57.6m a year earlier, on overall revenues that dipped 0.3% to £509.9m. A McCain statement said that low temperatures and heavy snowfall in 2018 followed by a dry summer led to one of the weakest potato crops in more than 40 years, which had an impact on its financial performance “Unfortunately this is the reality of working in agriculture. However we remain optimistic and as industry leaders we continue to be the UK’s largest manufacturer of frozen potato products.” It said it maintained a value share of 54% and a volume share of 42% of the UK frozen potato category, according to IRI data for the 12 weeks to 20 June 2020. A shortage of potatoes saw it focus on domestic UK supply, with sales volumes and market share strengthening across retail and out of home. Its UK sales rose 1.7% to £478.8m, but its supply of products to Europe and the rest of the world fell by 24% back to £31.1m. It said that it “remains committed to driving growth in category”, evidenced by its £100m investment in its Scarborough site during the financial year. McCain stated: “We continue to work closely with growers to help them mitigate the extreme weather we have been experiencing and recent challenges caused by Covid-19 to ensure we fulfil our contracts, maximise the usable crop and maintain the quality of our products and the sustainability of British agriculture.”

Carbanak cyber cyber criminal bank gang resurfaces targeting different regions shifts attention to Europe, Middle East and US

The notorious Carbanak cyber criminal group, which predominantly targets financial institutions, has reportedly changed its focus to Europe, Middle East and the US. The group emerged in 2013, using APT techniques to steal up to $1bn from 100 banks over a two-year period. It has now reappeared, with researchers discovering that its geographical focus has shifted. Recent attacks have shown its top three targets to be the US (18% of attacks), Oman (16%), and Australia (13%). The group uses targeted phishing emails, which it sends to specific staff in financial institutions, professional services companies, and firms that sell enterprise software. In these are malicious links to documents with a known Microsoft Word exploits. Once opened, these download spyware onto the victim’s machine. Other emails have sought to spread the Java-based RAT, jRAT, which has such functionality as key-logging, monitoring webcam and sound, and modifying the registry. 

http://www.infosecurity-magazine.com/news/carbanak-cyber-thieves-back-on-the/

Security researchers are warning of an uptick in activity from the notorious Carbanak cyber bank robbing gang signalling a change of focus to the Middle East, US and Europe. At the beginning of this month, Proofpoint observed targeted phishing emails sent to specific staff working for financial institutions, professional service companies and firms selling enterprise software in the Middle East. They contained malicious links leading to documents with a known Microsoft Word exploit which resulted in spyware downloads. At the same time, links in other emails – some sent to the same targets – attempted to spread the Java-based RAT, jRAT, which contains a host of functionality including keylogging, monitoring webcam and sound, managing files and processes and modifying the registry. An apparently separate campaign targeted helpdesk and financial workers in the US and Europe, employed in the finance industry, mass media, and other apparently random targets in fire, safety, air conditioning and heating. They received emails with attached documents containing malicious macros. Once enabled, these would also launch Spy.Sekur. It’s also notable that numerous Spy.Sekur payloads were signed by stolen or fraudulent certificates – an increasingly popular method for cybercriminals to circumvent traditional security filters and trick defenses. Proofpoint claimed it found no evidence that a RAT known as Netwire was loaded onto any of these emails. But it did find the malware hosted at the same IP address as Spy.Sekur, indicating it could have been used in the same campaign. Other malware associated with these new email campaigns included RATs DarkComet and MorphineRAT. The top three countries targeted appear to have been the US (18%), Oman (16%) and Australia (13%). The Carbanak group has been around since 2013, most notably using advanced APT techniques to steal up to $1bn from 100 banks worldwide over a two-year period. Proofpoint concluded: “In this case, we saw the [Carbanak] group use new exploits, macro documents, and RATs to target new groups outside their usual Russian domains. The group used attachment campaigns, URLs linking to exploit documents, and sophisticated malware to go after targets in the US and Middle East. The group also expanded its targeting from financial institutions to seemingly unrelated targets in fire, safety, and HVAC. However, as we learned from the Target data breach, among others, vendors and suppliers can give attackers a point of entry into their real target.”

P2P lenders and robos decline as China's fintech sector matures

The maturation of China's fintech sector has put pressure on robo-advisors and P2P lenders, as investment caps, third party investor fund requirements and more stringent regulation has caused a slowdown. Scepticism over robo-advisors' ability to deliver has put a damper on the predicted $758bn asset prediction made for 2020 in this sector. A drop in IPOs for P2P lenders and a rise in B2B fintech has caused many firms to move out of the Chinese market.

http://www.ecns.cn/2017/12-01/282807_2.shtml

A PwC report this year found that 75 percent of managers believe that globally only 100 billion US dollars' worth of assets will be managed by robo-advisors, well below industry expectations. Tech to the forefront in 2017 2017 has, according to consulting firm Oliver Wyman, seen "tech" play a greater role than "fin" in China's fintech sector, with technology being applied to solve real problems in finance rather than to simply boost profits. China may have banned initial coin offerings and closed some of the world's biggest cryptocurrency exchanges, but that doesn't mean blockchain has been eyed with the same amount of suspicion. A research center focusing on blockchain technology backed by the Chinese government was launched in September and the People's Bank of China is researching how blockchain could digitize the Renminbi. A study by McKinsey says that blockchain will not only make financial transactions faster in China, but will also develop the growing digital insurance sector. A report by EY points to the huge potential in China's "massive and underserved SME market," which receives only 20-25 percent of bank loans despite accounting for 60 percent of GDP. The report says blockchain technology could dramatically open up new sources of finance to SMEs, and provide "10x solutions… that are an order-of-magnitude better than what they replace." Fintech 'coming of age' The enormous spending on fintech in 2015 and 2016 arguably sealed China's place as a global leader in the field, and 2017 has seen the sector come of age in many regards. As with any new disruptive technology, there will be initial problems that can be ironed out with further regulations in the coming years, but Chinese fintech can develop in an ideal environment, where it receives widespread support, investment, and has access to the biggest online and mobile population in the world. China's rapidly growing middle class will continue to seek new and innovative access to finance, while demand will also come from SMEs and major companies looking to use fintech to minimize costs, boost efficiency and launch themselves into the future.

New EU money laundering regulation for art

An EU directive designed to strengthen anti-money laundering regulations and counter the financing of terrorism with virtual currencies, may impact the sale of works of art. The changes will mean art dealers will have to verify the identity of their customers for transactions over €10,000. Anthony Browne, chairman of the British Art Market Federation has said the government will discuss the planned regulation with art market to prevent the burden of increased regulation impacting UK businesses, the majority of which have turnovers of less than €1m. It is also unclear how things will be after Brexit process is finalised.

https://www.antiquestradegazette.com/news/2018/new-money-laundering-regulation-a-disproportionate-burden-on-art-and-antiques-businesses/

Laura Chesters Enjoy unlimited access: just £1 for 12 weeks Subscribe now The EU’s fifth Anti-Money Laundering Directive is designed to extend anti-money laundering and counter terrorism financing rules to virtual currencies, tax-related services and works of art. The rules will now apply to ‘persons trading in works of art’ who will have to ‘identify their customers and report any suspicious activity to the Financial Intelligence Units’. The changes include the need to verify identities for transactions of €10,000 or more, irrespective of the method of payment, whether by cash, credit card, bank transfer or cheque. It also covers a series of lower-value ‘linked transactions’ that can add up to €10,000 or more. Previously in the UK, such checks were necessary only for cash transactions of €10,000 or more. "False assumption" CINOA's secretary general Erika Bochereau said: “The amendments are built on the false assumption that the European Union is subject to a high level of trafficking in cultural property that is funding illegitimate interests… Most art market businesses are SMEs with turnovers of well under €1m and this [legislation] would add a disproportionate burden to their time and expenses in administrative terms, while potentially losing them business.” Anthony Browne, chairman of the British Art Market Federation (BAMF), said the government plans to discuss issues with the art market. He added: “The aim is to ensure for small businesses that the administrative burden is at a minimum.” This directive will need to be formally endorsed by the European Parliament and the Council later this year. Member states of the EU will then have up to 18 months to include these new rules in their national legislation. It is not yet clear how the UK’s government will proceed in light of the Brexit process. CINOA noted that in the US the House Financial Services Committee is drafting legislation that would add “dealers of art and antiquities” to the list of regulated financial institutions under the Bank Secrecy Act. Bochereau said CINOA has been taking a “much more active role in recent months to influence international policy… Although the Anti-Money Laundering Directive is an EU proposal, this will have an impact on all global markets that do business with EU member states. CINOA welcomes any dealers or organisations that would like to work together on these kind of issues”.

Xenegrade launches online user training centre

Florida-based edtech Xenegrade has launched an online training centre, offering courses to beginner and advanced students who can learn at their own pace. Initial courses will focus on user-defined reporting system InSight, with a completion certificate awarded to students who finish each course. Founder Rick Stern said the training centre aims to cater to the needs of businesses dealing with employee turnover and staff changes.

https://www.prnewswire.com/news-releases/xenegrade-launches-online-user-training-center-300684517.html

ST. PETERSBURG, Fla., July 23, 2018 /PRNewswire/ -- Online learning continues to grow at an impressive rate at educational institutions. Distance learning, as it is also known, is quickly expanding in the corporate and business environment as well. With its numerous advantages, it seems only logical that training for software applications would move more towards an online learning environment. "Xenegrade will provide beginner and advanced online training that meets the variety of customer training needs," states Rick Stern, President and Founder of Xenegrade. "Our customers require training opportunities for existing employees. And with the employee turnover and staff changes, the training need for new employees continues to grow." During the initial launch, the courses offered will focus on InSight, a user-defined reporting system embedded into the software application. Courses are designed to be completed in two to three weeks on average, but the student can pace the lessons to fit their need. Lessons include examples based on common continuing education needs and real-life experiences. Upon course completion, students earn a completion certificate, useful in demonstrating their achievement to their employer. Students register online as well using Xenegrade's cloud-based registration system, the same online software system Xenegrade designs and markets. Users get to experience our product as students using the same tools their students use to register for the courses their organization offers. For more information about Xenegrade, visit: www.xenegrade.com/company. SOURCE Xenegrade Corp Related Links http://xenegrade.com/

Why CrowdStrike’s share price keeps hitting the mark

Demand for the cloud-based security drive has helped the stock make significant gains in 2020, boosting Crowdstrike's share price by 154.3% so far this year. Zacks Equity Research has provided a consensus estimate of $188.6m, which would represent an increase of 74.5% over the same period last year.

https://www.cmcmarkets.com/en-gb/opto/why-crowdstrikes-share-price-keeps-hitting-the-mark

As of 31 August, CrowdStrike’s [CRWD] share price was at $125.73. Demand for the cloud-based security drive has helped the stock make significant gains in 2020, boosting Crowdstrike's share price by 154.3% so far this year. Furthermore, Crowdstrike’s share price has been on a powerful upward trajectory since March lows, gaining 280.1% since crashing out around $33 in the March sell-off. Will Crowdstrike’s share price continue to hit its targets when it delivers its second-quarter earnings report after US markets close on 2 September? Striking a chord For its upcoming earnings call, Crowdstrike has estimated revenues for this period in the range of $185.8-$190.3m. Zacks Equity Research has provided a consensus estimate of $188.6m, which would represent an increase of 74.5% over the same period last year and a 5.9% increase on last quarter’s revenue of $178.1m. In Q1 Crowdstrike reported adjusted earnings of $0.02 per share compared with the $0.55 loss per share posted for the same period in 2019. Zacks noted that CrowdStrike management expects to report between $0.02 of loss per share and a break-even in its upcoming earnings report. The Zacks consensus estimate stands at a loss of $0.01 — considerably less than the loss of $0.18 per share reported in the same quarter last year. $188.6million Crowdstrike's estimated revenue - a 74.5% YoY rise The company could be set to benefit in trends that have not only become prevalent as the coronavirus pandemic has shifted working patterns, but also from ongoing shifts to the ‘Internet of things’ and cloud adoption. A survey of business leaders in the Asia Pacific region and Japan published by the firm in July found that among the respondents who believe there should be more investment in remote working, the highest percentage (74%) listed enhancement of cybersecurity measures as a priority for additional investment. UBS analyst Fatima Boolani has initiated coverage of CrowdStrike with a buy rating and price target of $120. In a research note, reported by Benzinga, Boolani referred to the company’s advanced, cloud-native and SaaS-based endpoint and workload security platform would enable it to take advantage of people working from home, cloud adoption and IoT device growth. The analyst predicted compounded annual growth rate through 2022 of in excess 40. Part of this growth is expected to come from the company's success in expanding into adjacent markets such as vulnerability and systems management. Boolani suggests that Crowdstrike’s premium valuation is justified despite the stock trading at estimates higher than those of established SaaS security rivals. Market Cap $27.157bn EPS (TTM) -0.71 Operating Margin (TTM) -25.36% Quarterly Revenue Growth (YoY) 85.3% Crowdstrike share price vitals, Yahoo Finance, 1 September 2020 What’s next for Crowdstrike’s share price? Other analysts have also delivered positive assessments of the share price’s prospects. Jefferies analyst Brent Thill maintained a hold rating on the stock while raising the one-year price target from $100 to $115 per share, according to a 28 July note. Elsewhere, in early July Citi analyst Walter Pritchard upgraded his rating on the stock from sell to neutral, referencing evidence of market share gains in the endpoint cybersecurity market as the main reason for the upgrade. He also increased Citi's one-year share price target on the stock from $74 per share to $116. One of the drivers of volatility in recent months has been short-selling activity. For instance, at the start of last month, Crowdstrike’s share price dropped 14% before reversing the downward trend on 13 August. However, longer-term Crowdstrike is expected to benefit from strong demand for security products globally as a large percentage of the world’s workforce continue to work from home. The likelihood of fresh coronavirus outbreaks means this trend could persist for some time. According to 22 analysts polled by MarketBeat, the consensus is to buy the stock, a rating held by 17 of the analysts, while five rate it a hold. The average 12-month share price target of $109.82, represents a 12.7% decrease on 31 August’s close. Disclaimer Past performance is not a reliable indicator of future results. CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination. CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein. *Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

UPS Private Equity Strategic Investment Official Sees BlockChain Role For Global Trade

The Strategic Enterprise Fund ( SEF), the private equity strategic investment arm of UPS is turning its attention to Bitcoin and its underlying technology. Rimas Kapeskas, M.D of SEF, has published a blog post on the UPS’ official  blog, Longitudes titled “Does Global Trade Need A Global Currency?” that really got the logistics industry talking. Kapeskas highlighted the borderless properties of Bitcoin and its advantages, citing that this type of technology has enhanced the global exchange of goods and information, and gives more people access to virtual market.   Kaspekas also noted that, Bitcoin can eliminate friction in cross-border transactions and facilitating faster transfer of goods, which suggests that the company might also be looking into accepting digital currency payments as well. In an interview with PYMNTS, Kapeskas explained the need for B2B commerce to utilize blockchain technology and said blockchain can manage “smart contracts” and cross-border processing.

https://www.cryptocoinsnews.com/ups-private-equity-strategic-investment-official-sees-block-chain-role-global-trade/?utm_content=bufferd6f59&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

While financial institutions explore the capabilities of the block chain as a tool for managing finance, the supply chain industry is taking an interest in ... While financial institutions explore the capabilities of the block chain as a tool for managing finance, the supply chain industry is taking an interest in using bitcoin and the block chain for managing global trade and e-commerce. Rimas Kapeskas, managing director of UPS Strategic Enterprise Fund, the private equity strategic investment arm of UPS, wrote a blog about the advantages of bitcoin on Longitudes, the UPS blog devoted to the trends shaping the global economy. Kapeskas said digital currency and block chain technologies could provide a better platform for global trade and e-commerce than the current clearing and settlement systems that are costly and inefficient. The blog is titled “Does Global Trade Need A (Bitcoin) Global Currency?” and has drawn a lot of comments in the supply chain industry. E-commerce Changes The World Economy “The rise of e-commerce has empowered consumers and changed the landscape for buying and selling goods, while transforming the worldwide economy,” Kapeskas wrote. “This omnipresent demand for goods, regardless of the market, will soon get even more intense.” The current payment, clearing and settlement systems are inefficient, have long settlement times and high-cost fees and exchange rates. Calculating fair exchange rates and the fees required is hard when the variables are unknown, as is often the case under the current system. Regulations and currency rates vary by country, and not all merchants can manage the current level of complexity online. Today’s technologies have enhanced the global exchange of information about goods and bolstered transportation networks moving items across borders. New Payment Systems Promise Change Even regional currencies like the Euro struggle to keep national economies in order, Kapeskas wrote. New payment platforms are fostering a globally accepted exchange mechanism that would not require a unified monetary system. Here is where virtual currency comes into play. Digital money can move across borders without requiring multiple intermediaries and currency swaps. Of digital currency, he noted the following: “If recognized, its value is the same regardless of where you do business, eliminating friction points and facilitating the faster flow of goods.” Digital currency also allows consumers and businesses of all sizes to participate in e-commerce. The movement of goods, funds and information must be both secure and seamless for e-commerce to thrive. Virtual currency seems like a logical next step, one that could bring markets closer together and facilitate faster trade. The advances that most effectively eliminate barriers and make commerce easier are usually the ones that stand the test of time. This is why global trade is ready for a global exchange system that enables seamless transactions. Also read: Huge Global E-Commerce Company Rakuten Rolls Out Bitcoin Acceptance Blog Draws Interest In The Supply Chain Industry Kapeskas’ blog drew a lot of comments on the UPS Longitudes website. Supplychain247, a supply chain news portal, ran Kapeskas’ blog and posted an audiobook of the original bitcoin white paper by Satoshi Nakamoto. Pymts.com, a payments industry website, took note of the extensive comments and asked Kapeskas to expand on his comments. In this interview, Kapeskas explained the need for business-to-business (B2B) commerce to utilize block chain technology. He noted block chain technology can manage “smart contracts” and cross-border processing. Kapeskas also noted that block chain technology could bring visibility to the B2B system, especially in the areas of identity management and authentication. Some of the world’s biggest companies are starting to understand that the block chain technology can be used for many types of international transactions, including paying vendors and payroll processing. Featured image from 360b / Shutterstock.

Scottish judges rule PM's suspension of parliament is unlawful

Scottish appeal court judges have declared Boris Johnson’s decision to suspend parliament in the run-up to the October Brexit deadline is unlawful.The UK government will appeal at the UK supreme court against the latest ruling, which also contradicts a decision in Johnson’s favour by senior English judges last week.No 10 sources said the government noted that last week the high court in London did not rule that prorogation was unlawful, which suggests ministers may try to hold back from recalling parliament until an appeal ruling.

https://www.theguardian.com/politics/2019/sep/11/scottish-judges-rule-boris-johnsons-prorogation-unlawful

Scottish appeal court judges have declared Boris Johnson’s decision to suspend parliament in the run-up to the October Brexit deadline is unlawful. The three judges, chaired by Lord Carloway, Scotland’s most senior judge, overturned an earlier ruling that the courts did not have the power to interfere in the prime minister’s political decision to prorogue parliament. Lawyers acting for 75 opposition MPs and peers argued Johnson’s decision to suspend parliament for five weeks was illegal and in breach of the constitution, as it was designed to stifle parliamentary debate and action on Brexit. The judges failed to issue an interdict, or injunction, ordering the UK government to reconvene parliament, prompting a row over whether the decision meant MPs could go back to the House of Commons. The court issued an official summary of its decision declaring the prorogation order was “null and of no effect”, but Carloway said the judges were deferring a final decision on an interdict to the UK supreme court, which will hold a three-day hearing next week. Jolyon Maugham QC, the legal campaigner whose Good Law Project funded the legal action, said he and Aidan O’Neill QC, the group’s lawyer, believed this meant prorogation was suspended with immediate effect unless the UK government won a court order reinstating it. The UK government will appeal at the UK supreme court against the latest ruling, which also contradicts a decision in Johnson’s favour by senior English judges last week. The UK supreme court has already scheduled an emergency hearing on both the Scottish and English cases for 17 September, alongside a third challenge brought in the courts in Belfast. Timeline The plan to prorogue parliament and the court cases against it Show 24 August 2019 The story breaks The Observer breaks the story that Boris Johnson has sought legal advice on closing parliament for five weeks 27 August 2019 Leaks spread Other media organisations begin to receive leaks that Johnson will make a statement on prorogation 28 August 2019 Visit to Balmoral Three privy counsellors, including Jacob Rees-Mogg, travel to Balmoral to tell the Queen of the prorogation plan. Cabinet ministers are informed by conference call 31 August 2019 Protests and protestations Tens of thousands protest against prorogation. Cross-party group of MPs steps up preparation for blocking no deal when parliament makes a brief return 3 September 2019 Parliament returns Parliament returns and the prime minister loses six votes in six days. MPs vote to prevent a no-deal Brexit, and refuse Johnson's attempts to force them into a general election. 6 September 2019 Gina Miller case fails Legal campaigner Gina Miller vows to continue her “fight for democracy” after the high court dismissed her claim that the prime minister acted unlawfully in giving advice to the Queen to suspend parliament at a time of momentous political upheaval. 9 September 2019 Parliament dissolved Parliament is dissolved amid chaotic scenes as some MPs hold up signs saying they have been silenced, try to prevent Speaker John Bercow leaving the chamber, and sing the Red Flag. 11 September 2019 Scottish court ruling The court of session in Scotland rules that Boris Johnson’s decision to prorogue parliament for five weeks was unlawful. The case will go to the supreme court. 17 September 2019 - 19 September 2019 Supreme court hearing The Supreme court begins three-day hearing to join together all the appeals and legal challenges to the prorogation. 24 September 2019 Supreme court finds prorogation was unlawful The judges unanimously decided that prorogation was justiciable, and it was in the power of the court to rule on it. They additionally found that the prorogation was unlawful, as it had the effect of preventing parliament from being able to carry out its constitutional functions. The court found that the prime minister’s advice to the Queen was unlawful, void and of no effect. Their unanimous judgement was that parliament had not been prorogued. 25 September 2019 Parliament goes back to work. Was this helpful? Thank you for your feedback. The three Scottish judges, who will issue their reasonings in full on Friday, said unanimously the prorogation was unlawful “because it had the purpose of stymying parliament”. Carloway, the lord president of the court of session – the supreme civil court of Scotland – said parliamentary scrutiny of the executive was “a central pillar of the good governance principle enshrined in the constitution”. Lord Brodie said that attempting to frustrate parliament in this way was “an egregious case of a clear failure to comply with generally accepted standards of behaviour of public authorities”. The court’s summary concluded that Johnson’s prorogation request to the Queen and her decision to accept it “was unlawful and is thus null and of no effect”. Maugham said: “Our understanding is that unless the supreme court grants an order in the meantime, parliament is unsuspended with immediate effect. “I’m relieved that my understanding of the functioning of our democracy – that allows parliament to exercise its vital constitutional role – has been vindicated by Scotland’s highest court. “This is an incredibly important point of principle. The prime minister mustn’t treat parliament as an inconvenience.” Joanna Cherry QC, the Scottish National party MP who was the lead applicant in the case, called for prorogation to be halted. “The court agreed it is unlawful to suspend the UK parliament for the specific purpose of preventing parliament from scrutinising the Brexit process and holding this shambolic Tory government’s extreme Brexit plans to account,” she said. “This ruling takes us one step closer to ensuring the UK government cancels their shameful prorogation and blatant plot to force through an extreme Brexit. Boris Johnson cannot be allowed to break the law with impunity.” A UK government spokesperson said: “We are disappointed by today’s decision and will appeal to the UK supreme court. The UK government needs to bring forward a strong domestic legislative agenda. Proroguing parliament is the legal and necessary way of delivering this.” No 10 sources said the government noted that last week the high court in London did not rule that prorogation was unlawful, which suggests ministers may try to hold back from recalling parliament until an appeal ruling. A spokeswoman for John Bercow, the Speaker, and the House of Commons authorities said it would be up to Johnson to recall parliament during prorogation. “Any decision to accelerate the meeting of parliament during prorogation is a matter for the government,” she said. However, calls quickly grew among opposition parties for Johnson to act now to restore sitting for the House of Commons and Lords. Nicola Sturgeon, Scotland’s first minister, said: “Today’s court of session judgment is of huge constitutional significance – but the immediate political implications are clear. Court says prorogation was unlawful and null and void – so parliament must be recalled immediately to allow the essential work of scrutiny to continue.” Keir Starmer, the shadow Brexit secretary, said: “I welcome the court’s judgment. No one in their right mind believed Boris Johnson’s reason for shutting down parliament. “I urge the prime minister to immediately recall parliament so we can debate this judgment and decide what happens next.” Shami Chakrabarti, the shadow attorney general, added: “This ruling shows that, despite what Boris Johnson has spent his privileged life thinking, he is not above the law. Labour will not allow his elitist shutdown of parliament to enable him to dodge scrutiny and force through a disastrous no-deal Brexit.” The Liberal Democrat leader, Jo Swinson, tweeted: “Scottish judges have found in favour of 75 MPs (including me and other Liberal Democrats). We argued that Boris Johnson’s parliament shutdown is illegal, and designed to stifle parliamentary debate and action on Brexit.”

Amazon takes a nosedive after reporting a less profitable quarter than expected

The Seattle-based company earlier this year said it planned to make one-day shipping the new standard for Amazon Prime, the membership program that drives sales on Amazon.com and offers members perks such as fast free shipping and access to other Amazon services, such as the Prime Video streaming service."We are ramping up to make our 25th holiday season the best ever for Prime customers - with millions of products available for free one-day delivery," Bezos said in a prepared statement."Customers love the transition of Prime from two days to one day they've already ordered billions of items with free one-day delivery this year.

https://amp.businessinsider.com/amazon-reports-third-quarter-earnings-q3-2019-10

Amazon CEO Jeff Bezos. Clodagh Kilcoyne/Reuters Amazon reported third-quarter earnings on Thursday, missing Wall Street estimates on profit - sending the stock tumbling as much as 8.62% after the release. Amazon slightly beat revenue estimates, reporting $70 billion in revenue for the quarter, up 24% from the year-ago period. Amazon Web Services' revenue growth rate slowed once again to 35%. Visit Business Insider's homepage for more stories. Amazon reported third-quarter earnings after the market closed on Thursday, beating Wall Street revenue estimates but missing on profit. Amazon shares were down as much as 8.62% in after-hours trading immediately after the earnings release. Here's what the company reported for the third quarter: Revenue : $70 billion, up 24% from the same quarter last year. Analysts estimated $68.8 billion. : $70 billion, up 24% from the same quarter last year. Analysts estimated $68.8 billion. Earnings per share: $4.23. Wall Street expected $4.62 per share. $4.23. Wall Street expected $4.62 per share. AWS revenue: $9 billion, up 35% compared with the third quarter of 2018. The Seattle-based company earlier this year said it planned to make one-day shipping the new standard for Amazon Prime, the membership program that drives sales on Amazon.com and offers members perks such as fast free shipping and access to other Amazon services, such as the Prime Video streaming service. Analysts are searching for indications into how much Amazon is spending on the move to one-day shipping after the company earlier this year said it was costing more than anticipated. Amazon CEO Jeff Bezos in a prepared statement acknowledged the company's planned transition to one-day shipping but did not appear to reveal details on expenses related to that shift. Amazon may reveal more details on an earnings call scheduled for 2:30 p.m. PT on Thursday. Amazon's massively profitable cloud business, Amazon Web Services, is also a point of interest, as it seeks to retain its dominance in the market against challengers including Microsoft Azure. AWS revenue is up 35% since the same quarter last year to nearly $9 billion. The unit's growth rate is down compared to the second quarter, in which the business' revenue grew 37%. This follows a slump from a 42% annual growth rate in the first quarter and a 46% rate in the fourth quarter of last year. AWS was responsible for nearly 72% of Amazon's nearly $3.2 billion in operating income. "We are ramping up to make our 25th holiday season the best ever for Prime customers - with millions of products available for free one-day delivery," Bezos said in a prepared statement. "Customers love the transition of Prime from two days to one day - they've already ordered billions of items with free one-day delivery this year. It's a big investment, and it's the right long-term decision for customers. And although it's counterintuitive, the fastest delivery speeds generate the least carbon emissions because these products ship from fulfillment centers very close to the customer - it simply becomes impractical to use air or long ground routes. Huge thanks to all the teams helping deliver for customers this holiday," he said. We'll be reporting the earnings live, so refresh for updates. NOW WATCH: Popular Videos from Insider Inc.

Total invests $4m to solarise half of Zimbabwe fuel stations

France's Total has begun a $4m, five-year project to switch half of its 101 fuel stations in Zimbabwe to electricity from solar power plants. As well as reducing Total's carbon footprint, the move will also lower its annual electricity bill by 30%. The firm plans to launch 5,000 solarised petrol stations across Africa, generating 200 MW of electricity.

https://www.afrik21.africa/en/zimbabwe-total-invests-4-million-to-equip-50-of-fuel-stations-with-solar-energy/

Sustainable cities and territories #7. Our series in partnership with the Africa-France 2020 Summit. Total wants to reduce its electricity bill in Zimbabwe. The French oil company has decided to supply half of its service stations in the country with solar energy. To achieve this goal, the company is expected to invest $4 million over five years. Total has 101 fuel stations in Zimbabwe that currently run on electricity supplied by grids or diesel-powered generators. A solution that is as costly for the company as it is polluting the environment. The company has already begun its new project by installing small solar power plants at three service stations in the country. Total estimates that the installation of small solar power plants at half of its service stations in Zimbabwe should reduce its electricity bill by 30%. This percentage could be increased with the addition of batteries for electricity storage at these small solar power plants. The initiative is part of a project to equip its service stations in 57 countries, most of them in Africa. It is expected that 5,000 stations across the continent will eventually be equipped with small solar power plants. These installations will generate 200 MW of electricity. As part of this strategy, Total has inaugurated the 1,000th filling station powered by solar energy, at Total Palmeraie in the city of Marrakech, Morocco. According to Total, its project will prevent the emission of 50,000 tons of carbon dioxide. To do so, the oil company will invest $300 million. It also plans to extend its policy to its production plants and fuel stations…. Jean Marie Takouleu

Cycling, public transport are greenest transport options: study

Walking, cycling or using public transport are the greenest ways to move around urban environments, according to a report by the European Environment Agency (EEA). It said first, last and one-mile journeys were crucial to sustainable urban transport, as well as meeting objectives laid out in the 2019 European Green Deal. However, the report said other solutions, including ride-hailing apps and e-scooters didn't always make a positive contribution.

https://www.greencarcongress.com/2020/02/20200204-eea.html

A new report by the European Environment Agency (EEA) finds that, taken together with public transport, walking and cycling for short city journeys provide the greatest benefits for both human health and the environment in urban areas. The introduction and rapid uptake of app-based vehicle sharing schemes can also have benefits. However, the report points to studies which show that their impact on the environment is not always positive. E-scooter sharing schemes especially appear to attract users that would have otherwise walked or used public transport. While the use of shared e-scooters generates few direct environmental impacts, their green credentials can be questioned by the substantial negative impacts associated to their materials, their manufacturing and their frequent collection for recharging purposes. Similarly, studies show that ride-hailing apps such as Uber or Lyft do little to reduce emissions or congestion and actually draw people away from public transport. The transport and environment report ‘The first and last mile — the key to sustainable urban transport’ assesses how green and sustainable ‘first and last mile’ transport options such as bicycles, scooters or other means of short-distance travel can transform mobility systems in cities. The report also assesses how innovative urban freight and inner city delivery services, including the use of delivery drones, can make urban freight transport more sustainable. Shifting to walking, cycling and public transport will be crucial if Europe is to meet its long-term sustainability goals and policy objectives under the European Green Deal proposed by the European Commission in December 2019. Digitalisation and mobility apps can make a good urban mobility system even better, but they cannot compensate for underdeveloped public transport, the report cautions. For green options to have a fair chance to compete with cars, prices also need to reflect the harm done to health and environment. The report finds that better F/L/O [first/last/one] mile connectivity in cities can significantly improve environment and health outcomes. However, realising this potential requires an in-depth understanding of the different options, their strengths and weaknesses, and how they affect the mobility system as a whole. This is hardly ever simple because the environment and health effects of F/L/O mile options are determined by how they are used and what they replace. A simple example would be a short trip by electric kick scooter. If it replaces a motorcycle or a car trip, the environment and health effects are positive. If it replaces a trip by foot or by bike, the situation gets worse. More transport options can also lead to people making additional or longer trips, which again could make the situation worse. The above example shows that new and innovative products or services do not make things better or worse by themselves. It is their real-life use within a dynamically changing context that determines the outcome. Technology needs to be aligned with sustainable mobility goals to make a positive contribution. Framework conditions, incentives and disincentives, and user attitudes also play a decisive role. The report, therefore, takes a cautious view of the contribution that innovations such as delivery drones or autonomous vehicles will make to sustainable urban mobility. The report is equally cautious about our current ability to fully understand and predict their impacts. Therefore, public authorities should give some room to experimentation and focus on building a reliable evidence base before introducing regulation. —“The first and last mile” Increasing transport emissions. The transport sector continues to rely heavily on fossil fuels and is responsible for one quarter of Europe’s greenhouse gas emissions. The sector is also a significant source of air pollution, especially of particulate matter (PM) and nitrogen dioxide (NO 2 ) as well as the main source of environmental noise in Europe. A separate EEA briefing tracks the short- and long-term environmental performance of the transport sector in the EU. Transport emissions were 29% above 1990 levels in 2018. According to the European Green Deal proposal, transport emissions need to be cut by 90 % by 2050 to achieve climate neutrality in the EU. Other key findings:

TalkTalk Zzoomm to lay cables during lockdown

Zzoomm has said it will continue laying high-speed internet cables in Henley during the Covid-19 lockdown because the network was “critical” national infrastructure and its 40 employees were “key” workers. It said the government had approved its continuing to work during the lockdown, but that customers could change their installation dates if they did not want people in their homes at the moment. The company said its five teams of employees had protection equipment including gloves, masks and sanitiser, and forecast that the work would be completed in July 2020.

https://www.henleystandard.co.uk/news/healthcare/151099/firm-says-cable-laying-will-continue-during-lockdown.html

A COMPANY is continuing to install a new high-speed internet cable network in Henley town centre despite the coronavirus lockdown. Zzoomm says the work is critical national infrastructure and its staff are “key” workers. It has five teams, comprising about 40 workers, working in Lawson Road, Friday Street, Bell Street, Reading Road, Station Road and Peppard Lane. The company says it takes the health and safety of its customers and workers seriously. Customers who are due to have an installation in the next few weeks can change the date if they do not want people to enter their home and the company checks whether anyone has coronavirus or is self-isolating before staff visit a customer’s home to carry out an installation. A Zzoomm spokesman said: “We have checked with Government departments and have clarified that their direction is for our services and work to continue as far as normal in the current situation. “We take the health and safety of our employees and the public extremely seriously and so take steps to keep this as a priority at all times, utilising the latest government medical and safety advice. Our teams have the latest safety equipment and are trained and overseen by team leaders with extensive health and safety backgrounds. These leaders are kept up to date with multiple daily briefings as the situation changes at speed. “They are all equipped with the correct personal protection equipment, including gloves and hand sanitiser, and masks are used where appropriate. All equipment is wiped down with disinfectants at the end of use or when shared between teams. “In the building environment, social distancing can prove difficult and some working practices require two or more people to work closely to maintain high levels of safety. Where possible, this is enforced and close proximity is avoided as far as possible.” In February, retailers criticised Zzoom for not consulting them about the work as it involved road closures during a key trading period. However, this was before the Government imposed the lockdown to tackle the coronavirus pandemic and ordered shops selling non-essential goods to close. Zzoomm said the entire Henley network was likely to be completed by the middle of July.

Top Bitcoin Developer Gavin Andresen Predicts Ethereum Will Outgrow It

Gavin Andresen, one of blockchain's original developers, has given the ethereum digital currency his vote of confidence, in a tweet likely to rankle with bitcoin supporters. Andresen said ethereum's "lead will grow even as its blockchain size exceeds bitcoin's". Earlier this year, Andresen controversially threw his weight behind Craig Wright as Satoshi, the person credited with inventing bitcoin.

http://www.financemagnates.com/cryptocurrency/news/top-bitcoin-developer-gavin-andresen-predicts-ethereum-will-outgrow-it/

Ethereum has just gotten a surprising vote of confidence from a source that is very likely to upset Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's diehard supporters. Gavin Andresen now predicts that the smart contracts and decentralized apps focused cryptocurrency will accelerate its adoption rate, leaving Bitcoin behind. Join the industry leaders at the Finance Magnates London Summit, 14-15 November, 2016. Register here! Gavin Andresen is one of the very first developers of the original Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term, having taken over Bitcoin's source code control when its mysterious creator decided to disappear from the scene completely. Ethereum has more nodes today than Bitcoin. Prediction: it's lead will grow even as its blockchain size exceeds bitcoin's. — Gavin Andresen (@gavinandresen) September 25, 2016 This isn't the first time that Gavin Andresen made a statement that got him on the wrong side of many in the Bitcoin community. Earlier this year, as chief scientist at the Bitcoin Foundation, he wrote: “I believe Craig Steven Wright is the person who invented Bitcoin. I was flown to London to meet Dr. Wright a couple of weeks ago, after an initial email conversation convinced me that there was a very good chance he was the same person I’d communicated with in 2010 and early 2011. After spending time with him I am convinced beyond a reasonable doubt: Craig Wright is Satoshi.” After he refused to refute Wright's discredited claims, the Bitcoin Foundation blocked Andresen's access to Bitcoin's source code and he was forced to relinquish his position.

Report: Mobile Wallets Offer Loyalty Potential: Incentive Magazine

The ability to earn and redeem loyalty points and miles was found to encourage 94% of consumers to use mobile wallet technology according to a report by Toronto-based firm Points. Additionally, 60% of respondents would like to access all programs via a singular app with 53% of respondents having stated a preference to receive notifications once sufficient points have been earned to access rewards.

http://www.incentivemag.com/Gift-Cards/Retail/Mobile-Wallets-Offer-Loyalty-Potential/

When it comes to uncovering the incentive destinations that will leave a lasting impression on top performers, the best approach really is to see it for yourself.

Start-up wants to help landlords, employers spy on you via social media

A British start-up, Score Assured, is wanting to make mining explicit and required for anyone looking for a place to live or get a job, via Tenant Assured and Recruit Assured, respectively. Tenant Assured is currently the only product that is live. It believes that real personalities of individuals can be found in things such as Tweets, comments and likes. Tenant Assured takes as many digital touch points as possible, puts that together with traditional information and creates a personality score that is more reflective of the individual. A landlord can then use this information to decide whether they want to rent to you or not.     

http://www.extremetech.com/internet/229946-british-startup-wants-to-help-landlords-employers-spy-on-you-via-social-media

One of the disturbing trends we've covered at ExtremeTech over the past few years is the degree to which companies spy on customers, end-users, and people who shop for things. Much of this monitoring is done covertly with minimal disclosure, to help ensure that customers don't become aware of how their casual habits have been data mined and tracked. One British startup, Score Assured, wants to make that mining explicit and required for anyone looking for a place to live or a job, via Tenant Assured and Recruit Assured, respectively. Only Tenant Assured is currently live, so that's the product we'll focus on here. If you want to know how Tenant Assured describes itself in full, you can check its video below, but here's a partial transcript. "How do you identify that perfect tenant? Traditional data... only reveals a person's past, or at best, the present... We think real personalities can be found in much more insightful stuff, like Tweets, comments, likes... the things people love to buy, and the places they check in. Even in the people they choose to spend their time with. Tenant Assured is a new kind of reference, one that takes as many digital touch points as a potential tenant is willing to grant access to, mashes them up with the traditional information you already have, and creates a personality score that's much more reflective of the individual." ID discrepancies Locational misrepresentation Applicant's 5 biggest personality traits Employment verification Credit affordability Date of birth confirmation High risk language alerts - pets, smoking etc Payment date approximation New to country alert Applicant hobby/property suitability Best time to contact Elsewhere (Opens in a new window) , the website describes how this service works. A tenant is asked to log into their social media profiles on Facebook, Twitter, LinkedIn, and Instagram accounts via Tenant Assured's secure portal. The accounts themselves are then scraped for the following information: Tenant Assured's entire pitch is that it can use all of this information along with your credit history, driver's license, and payment histories to create a better, more informed profile, which your landlord than peruses to see if they want to rent to you or not. The Washington Post, which broke this story, actually gave the service a test run and reports (Opens in a new window) : "My [the author, Caitlin Dewey] personal tenant report includes a list of my closest friends and interests, a percentage breakdown of my personality traits, a list of every time I’ve tweeted the words 'loan' and 'pregnant,' and the algorithm’s confidence that I’ll pay my rent consistently." The service's founder, Steve Thornhill, reassures Dewey that if she's living a "normal life," she has nothing to be worried about. Yet while this a UK product and therefore subject to British, not US privacy laws, the fact that both "loan" and "pregnant" are flagged is proof that Thornhill's ideas about what constitutes a normal life is rather different than most people's. A recent report from the Federal Reserve found that 46% of American adults could not cover an emergency expense of $400 without selling something or borrowing money. While that number has been slowly decreasing in recent years as the economy recovers, the fact is, both loans and pregnancies are common in American life (and presumably in British life as well). Both your pregnancy status and your age are protected under US law, but Thornhill shrugs this off, telling the WP reporter that "All we can do is give them the information," Thornhill said. "It’s up to landlords to do the right thing." We've seen this kind of cozy partnership between corporations and law enforcement agencies abused in other contexts; what Score Assured is peddling is another wink-wink-nod-nod take on the same idea. Score Assured is trying to sell the idea that it's just another data provision product, and that the impetus is entirely on landlords not to use the information provided for purposes that are illegal under US law. While US consumers have the right to dispute their own credit report information and to request that data every year, Score Assured offers no method of disputing its own conclusions. Among the behaviors that count against your Tenant Assured “credit” percentage — i.e., how confident the company is that you’ll pay rent — are “online retail social logins and frequency of social logins used for leisure activities.” In other words, Tenant Assured draws conclusions about your credit-worthiness based on things such as whether you post about shopping or going out on the weekends. Not intended to be optional The Washington Post also notes: Tenant Assured dodges all of this by claiming that tenants opt-in to the service and aren't forced to use it. But it's easy to see how such requirements could be imposed by landlords or employers themselves. If all of the landlords within a certain area or job field require applicants to submit their social media profiles for checking, it becomes extremely difficult to dodge the requirement. Again, Thornhill doesn't see this as an issue, telling Dewey "People will give up their privacy to get something they want." Jobs and places to live aren't typically classified as something people "want." They're classified as things people must have if they want to achieve any degree of success, happiness, or stability in life. But in this brave new world, there's apparently nothing people can't be compelled to hand over in exchange for the right to shelter or the right to work.

Yemen between the impact of the climate change and the ongoing Saudi-Yemen war: A real tragedy

The study focuses on the impact of climate change and ongoing Saudi war on Yemen. Environmental degradation has historically influenced political stability. Population growth in Yemen is among the highest in the world, with an average annual growth rate of 3% in recent years. Almost one-third of Yemenis or 7.5 million people do not have enough food to satisfy their needs.

https://www.kpsrl.org/publication/yemen-between-the-impact-of-the-climate-change-and-the-ongoing-saudi-yemen-war-a-real-tragedy

This paper assesses the impact of climate change and Saudi-Yemen ongoing war on Yemen’s economy, agriculture, households and health and the proposed solutions for adaptation to climate change. The world’s climate is changing and will continue to change into the coming century at rates projected to be unprecedented in recent human history. Climate change has made weather less predictable and has increased environmental degradation. Environmental degradation has historically influenced political stability. Variables like rapid population change, water and food scarcity, migration, energy and natural resources consumption are already causing problems and will continue to be impacted by climate change. This study focuses on the impact of climate change and ongoing Saudi war on Yemen. Population growth in Yemen is among the highest in the world, with an average annual growth rate of 3% in recent years. Almost one-third of Yemenis or 7.5 million people do not have enough food to satisfy their needs. Results also show that 57.9% of all children strategy is implemented properly, farmers will be more than compensated for the loss of Qat revenues, and Yemen’s food security will improve.

Uber Eats' European drivers to be offered insurance benefits

Uber Eats will offer its food delivery drivers in Europe AXA insurance covering injury, accidents and property damage from next month. Uber says drivers will be able to take advantage of the offer whether they are self-employed or contracted through a third party. Couriers can be reimbursed up to €7,500 ($8,837) for medical expenses resulting from an accident requiring hospital treatment. 

https://www.independent.co.uk/news/business/news/uber-eats-food-delivery-drivers-insurance-europe-axa-car-a8111676.html

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails 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 Breaking News email {{ #verifyErrors }} {{ message }} {{ /verifyErrors }} {{ ^verifyErrors }} Something went wrong. Please try again later {{ /verifyErrors }} Uber’s food-delivery business will begin offering an insurance package to its couriers in Europe, a move to address the conditions of “gig economy” workers. Riders for food-delivery companies such as Uber Eats and Deliveroo are typically self-employed and the firms have come under fire for how they treat their workers. Uber Eats said on Friday it would start offering all its couriers in Europe an insurance package with AXA with coverage for personal accidents, cash benefits for hospitalisation, property damage and cover for third-party injury. Recommended Uber faces new global battle as Lyft opens first service outside of US “Uber Eats couriers can now enjoy the freedom and flexibility of working on their own schedule with the peace of mind provided by additional security and protection,” said Filip Nuytemans, Uber Eats general manager for Europe. The couriers will be able to benefit from the policy whether they are fully independent or employed via a third party, and the company will pay for the insurance. Uber Eats currently operates in Austria, Belgium, Italy, Netherlands, Poland, Portugal, Spain, Sweden and Britain. The plan will be introduced Jan. 8 next year, the company said. The gig economy, where individuals work for multiple employers day-to-day without having a fixed contract, has expanded with the arrival of apps such as Uber and Deliveroo, who say their workers have the full flexibility to work when they want and for how long they want. But companies in the gig economy come under fire from unions and politicians for what they call exploitative practices and riders for Deliveroo have gone to court in the UK to seek employment rights such as the minimum wage. Two drivers for Uber’s ride-hailing app successfully argued at a tribunal in London that the San Francisco company had responsibilities in terms of workers’ rights. The plan offered by Uber Eats will reimburse couriers up to €7,500 (£6581.85) for medical expenses from an accident that result in hospitalisation or €3,000 if the hospitalisation is for three consecutive nights or more. Couriers will also get a cash benefit for severe sickness or injury and cover for third party bodily injuries and property damage.

Egypt considering requests for 6.3 GW renewable energy

Egypt's New and Renewable Energy Authority is mulling requests from the public and private sectors to build renewable projects totalling 6.3 GW capacity, according to its head Mohamed Al-Khayat. He said the private sector schemes included 1.9 GW in wind farms and 800 MW of solar, while 170 MW of solar and 250 MW of wind were among the public sector projects. Egypt is aiming for renewables to make up around 20% of its energy generation mix by 2022, and possibly twice that amount by 2035.

https://www.evwind.es/2020/04/12/egypt-considers-6-3-gw-wind-energy-concentrated-solar-power-and-pv-projects/74346

The New and Renewable Energy Authority (NREA) is studying requests to build power plants at a total capacity of 6.34GW, of which 2.75GW projects are by the private sector. NREA Head Mohamed Al-Khayat told Daily News Egypt that the potential projects include photovoltaic power plants with a capacity of 170MW and wind farms of 250MW by the public sector on one hand, and other 1,950MW wind farms and 800MW photovoltaic power plants by the private sector. Al-Khayyat said Egypt’s total electricity production capacity amounted to 20.782bn KWh in 2019, including 14.597bn KWh from hydroelectricity plants, 3.270bn KWh from wind farms, and roughly 2.403bn KWh from solar parks. In addition, traditional thermal power plants produced 4.7m KWh. The country’s total fuel savings reached about 4.3m tonnes of oil equivalent. He added that the state aims to up the contributions of renewable energy to the electricity generation mix to about 20% by 2022, with the possibility of doubling it by 2035. This would be undertaken by adopting a package of flexible policies and models to encourage private investments, such as build–own–operate (BOO). Al-Khayat said that the feed-in tariff strategy resulted in the implementation of the solar energy complex in Benban, Aswan, at a capacity of 1,465MW. Aside from the NREA’s government wind farms in Zafarana and Gabal El Zeit that produce over 1,100MW, private sector projects come with almost double the annual growth rates. Future projections expect a faster implementation of renewable energy projects depending on their competitiveness. Al-Khayat noted that using solar energy to operate irrigation wells in the 1.5m feddan project is a must, not a luxury. The use of solar energy for these wells reduces the pressure on the electricity grid, whilst exploiting renewable energy available. It also ensures that no wells operate except during periods of sunshine, allowing maximum utilisation of the underground reservoir and its preservation for a long period. He stressed that Egypt is ready for continued cooperation and to exchange experience and knowledge in the electricity and renewable energy fields in Africa. This comes especially as NREA is currently implementing renewable energy projects in about 15 countries across the continent, through Egyptian grants and joint cooperation agreements.

India Ratings downgrades solar market outlook to 'stable'

India's solar sector outlook has been downgraded from positive to stable by India Ratings and Research. Between January and August 2019, the credit rating agency's portfolio saw 25% more downgrades than upgrades, with most being attributed to delays in payment from state-owned distribution companies. As of July, INR97.35 ($1.4bn) worth of payments were pending, according to the Central Electricity Authority, as revenue shortfalls affect payments to power producers. Furthermore, attempts by the state of Andhra Pradesh to renegotiate the power tariffs of power purchase agreements has also damaged the industry's outlook, raising financial risk and putting off potential lenders.

https://www.livemint.com/market/mark-to-market/how-payment-delays-fear-of-tariff-renegotiations-hurt-renewable-energy-projects-1568957230298.html

Mumbai: India Ratings and Research Pvt Ltd downgraded its ratings outlook for the solar sector to stable from positive, citing continued delay in payments from power distribution companies (discoms) and fears of tariff renegotiations. Discoms are large buyers of electricity in India and their revenue shortfalls have hit payments to power producers. This, in turn, has worsened the financial metrics of renewable energy projects. During 1 January-15 August, renewable energy projects in India Rating’s portfolio saw 25% more downgrades than upgrades. This is in variation to the previous calendar year when projects in India Ratings portfolio saw more upgrades than downgrades. The ratings downgrades are largely attributable to delays in payments from the offtakers, which are mostly the state government owned discoms. As of July, payment dues worth ₹9,735 crore were pending for renewable power generators, according to data from Central Electricity Authority. “Key updates since the release of the last outlook in February 2019 include Andhra Pradesh state’s efforts to negotiate renewable power tariffs/terminate costly power purchase agreements (PPAs) and increasing receivables period from select state discoms on a negative side," India Ratings said in a note. The ratings revision is not confined to India Ratings portfolio. According to Gautam Bafna, chief executive officer, Wisdom Torch Consulting Solutions LLP, a consulting firm, revisions are happening at other ratings agencies also. The trends do not bode well for the affected projects or the sector. Payment delays and fear of tariff renegotiations raise financial risks of renewable projects, which make lenders cautious about committing funds to such projects, potentially driving up the finance cost. “Earlier because of less perceived risks interest rates were low. Debt funding at such low rates is no longer available," Bafna adds. Rise in finance costs can have detrimental impact on project returns for investors. Similar to infrastructure projects, renewable energy plants have large debt component constituting as much as 75% of the project value. So even a marginal increase in interest rates can adversely impact project returns for investors. Projects headed for refinancing will be hit harder. Once a project is commissioned, developers usually refinance the debt to optimise returns or avail the benefit low interest rates. Therefore a rise in finance cost will make the process of refinancing at favourable rates more difficult. Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach. Take the test Topics

Increasing concern over Russian and Chinese warplane threat

A US airforce general has said that combatting the increasingly dangerous, provocative and aggressive activities of Russian and Chinese warplanes in international airspace is essential but dangerous. Both countries are intent in expanding their influence, with China exerting control over the South China Sea and Russia increasing long-range bomber activity off the US West Coast.

http://www.usatoday.com/story/news/politics/2016/05/22/threat-russian-and-chinese-warplanes-mounts/84673228/

Tom Vanden Brook USA TODAY WASHINGTON — Chinese and Russian warplanes have been increasingly aggressive intercepting U.S. military aircraft and patrolling near America’s West Coast, prompting the Air Force’s top combat officer to label their provocations one of his top worries. Air Force Gen. Herbert “Hawk” Carlisle, who leads Air Combat Command, said in an interview with USA TODAY that meeting the challenge from the Russian and Chinese to flights in international airspace is essential but dangerous. “Our concern is a resurgent Russia and a very, very aggressive China,” Carlisle said. Both countries are intent on expanding their spheres of influence — Russia in eastern Europe and the Pacific with China focusing much of its effort over the disputed South China Sea. “Their intent is to get us not to be there,” Carlisle said. “So that the influence in those international spaces is controlled only by them. My belief is that we cannot allow that to happen. We have to continue to operate legally in international airspace and international waterways. We have to continue to call them out when they are being aggressive and unsafe.” The stakes are high. Aggressive intercepts of U.S. patrol planes run the risk of mid-air collisions that would escalate tensions among nuclear powers. “Any accident that occurs while the U.S. military is playing cat and mouse with Russian or Chinese forces could escalate into a real fight,” said Loren Thompson, a defense industry consultant and military analyst at the Lexington Institute. “If it does, American victory is not assured, because U.S. forces are operating thousands of miles from home and the other side is near its main bases. Small confrontations can turn into big wars, and Russian military doctrine embraces the use of nuclear weapons to win local conflicts." An increasing number have occurred in recent months, Carlisle said, with fighters from Russia and China buzzing perilously close to American military aircraft. Chinese fighters buzz Navy patrol plane The Pentagon has denounced the hazardous intercepts for more than a year, although condemnation hasn’t halted the practice. On May 17, two Chinese fighter jets flew dangerously close to a U.S. Navy patrol plane over the South China Sea. China has been on a campaign to assert its sovereignty over the busy waterways, building artificial islands on reefs in the sea and establishing military bases. In late April, a Russian fighter pilot performed a “barrel roll” over the top of an Air Force RC-135 reconnaissance plane, Carlisle said, above the Black Sea. There has also been an uptick in long-range bomber activity from the Russians in Eastern Europe and extending to flights off the U.S. West Coast, Carlisle said. “We have seen an increase,” Carlisle said. “All the way down to the California coast. The number and frequency has increased.” For China, the goal appears to be establishing control of the international airspace over the South China Sea. There are conflicting territorial claims among countries in the region with China upping the ante by establishing a military bases on artificial islands around the Paracel and Spratley Islands chains. Carlisle expects that the Chinese will institute an Air Defense Identification Zone over a large portion of the South China Sea. Zones like these extend beyond a country’s borders in its national security interests. Aircraft entering such a zone are required them to identify and locate themselves. The United States has established them after consulting with neighboring countries. The Chinese unilaterally set up an identification zone in the East China Sea in 2013. Carlisle expects a similar action soon in the South China Sea. “Their expansion into the Paracels and the Spratleys is so they can declare it and then have the capability to enforce it, where they can do intercepts,” Carlisle said. “They are doing it outside of what could be consider the norms.” Maintaining communication with the Russian and Chinese military is key to avoiding mishaps, Carlisle said. Training pilots to deal with intercepts will continue. “As they become more aggressive, you run the risk of miscalculation,” he said. “You don’t know where that’s going to lead, or end.”

Civilized Cycles designs e-bike with 80 l carrying capacity

US start-up Civilized Cycles is slated to begin limited production of its Model 1 e-bike, which combines aspects of a scooter and moped with those of electric and cargo bikes. The Model 1 has a top speed between 32 and 45 kp/h, and can go 40 km on a single charge. The e-bike also has two solid panniers with a carrying capacity of up to 80 l. Shipping is set to start in Q2 2020.

https://newatlas.com/bicycles/civilized-cycles-model-1-ebike/

The Model 1 from Civilized Cycles combines scooter, moped, electric bike and cargo bike into one funky-looking ride. Those integrated panniers lock up to haul 20 liters of cargo inside, or pull out to offer 80 liters of extended carrying capacity. While working at a Vespa dealership in New York, which had expanded its product line to include ebikes, Zachary Schieffelin noted that a bunch of customers were asking for dream rides combining the best of scooters, cargo bikes and Dutch cruisers. Inspired, he got to work on the design of a versatile, connected and durable people and cargo carrier. Panniers can be easily attached to the rear rack of many two-wheelers, electric or otherwise, but Schieffelin wanted to have his ebike's cargo pods integrated into the actual design. After fine-tuning development sketches, a foam and ply scale mockup was created and after some positive nods from potential customers, the decision was made to build a prototype. Pre-production Model 1 prototype is readied for a test ride Civilized Cycles Schieffelin jumped into the project full time in 2016, and Civilized Cycles was born. Over the next wee while, the core team worked with suppliers and production partners to refine the original concepts and bring the Model 1 to life. The first production Model 1 ebikes will be a limited run. The rides are said to seat two adults, or one adult and two kids, comfortably, using a step-through frame fashioned from hydroformed aluminum. There's a 350-W, 500-W or 750-W mid-drive motor (depending on local regulations) that's reported to offer twice the peak torque of a Bosch mid-drive motor. It has a top speed of up to 20 mph (32 km/h) or 28 mph (45 km/h), and riders can choose throttle only, or pedal-assist. The ebike can motor along for 25 miles (40 km) of per charge range of the Li-ion battery, which sports two USB charging ports for powering devices, or twice that with the addition of an optional second battery pack. Those eye-catching patented hard shell panniers can carry up to 50 lb (22.6 kg) of cargo, are weather-resistant, lockable and enclose the upper half of the rear wheel. The Model 1 features a novel full Manitou suspension system that auto adjusts to the weight of the rider, passenger and cargo, with 80 mm of travel available to the front and 60 mm at the back. The Model 1's suspension auto adjusts to rider/cargo weight Civilized Cycles Elsewhere you'll find frame-integrated head- and tail-lights, with the former auto-dipping when oncoming headlights are detected and the latter also serving as a brake light. Stopping power comes courtesy of Tektro hydraulic disc braking, and ebike controls can be accessed using an app running on a Bluetooth-paired smartphone. The first 40 Founders Team edition's are limited to a small production run of just 40, and are priced at US$5,999 each. Shipping is estimated to start in Q2 2020. The video below shows a Model 1 tackling hills in San Francisco. San Francisco Hill Climb Source: Civilized Cycles via The Verge

Amsterdam removing almost 12,000 parking spots

Amsterdam will start eliminating inner city parking spaces to give the space back to cyclists, pedestrians and public transit users. The Dutch city will count 11,200 parking spots fewer by the end of 2025. The freed-up space will be repurposed for trees, bike parking and wider pavements.

https://www.fleeteurope.com/en/last-mile/netherlands/news/amsterdam-removing-almost-12000-parking-spots?t%5B0%5D=Parking&curl=1

Cycling city Amsterdam will start eliminating inner city parking spaces to give the space back to cyclists, pedestrians and public transit users. The Dutch city will count 11,200 parking spots fewer by the end of 2025. Amsterdam announced that it will systematically strip its inner city of parking spaces. Starting this summer, the city aims to reduce the number of parking permits in the city centre by 1,500 per year. In addition, the cost for the permits will rise. Today, they can already amount to close to €500 a year for the inner city streets. Both measures must result in less parking space occupied and less demand for parking spaces in the city centre. This will allow the city to remove up to 11,200 parking spaces from its streets by the end of 2025. This policy will strengthen Amsterdam’s pro-bike vision, since the freed-up space will be repurposed for trees, bike parking and wider pavements. Moreover, it comes as a logical measure considering Amsterdam’s cycling reputation, since only 22% of the journeys in the cycling city are done by cars, while they in fact still own the majority of the public space. Therefore, to put things right, some car space will be given back to the majority of the road users: cyclists, pedestrians and public transit users.

Birds Eye backed pea farming study could reduce CO2 levels

Nomad Foods-owned Birds Eye and 40 farmers who grow its peas are part of a landmark project that is working to counter the effects of climate change, and could also reduce flooding and improve soil health. Farms that are part of Sustainable Landscapes Humber Project alternate between growing peas and cover crops, dubbed pop up rainforests by supply chain consultancy Future Food Solutions. Trials show that the cover crops, which are chosen for their ability to capture significant amounts of CO2 from atmosphere, can cut a nett four tonnes of atmospheric carbon per hectare per year. Other benefits from growing cover crops potentially re-establishes soil health, enabling farmer to grow food more efficiently. As additional crops are introduced, more food brands are expected to get involved and support farmers growing cover crops.

http://www.aafarmer.co.uk/news/collaborative-farm-based-environmental-project-launched-in-east-yorkshire-could-significantly-cut-co2-levels.html

A LANDMARK, farm-based project that could help return atmospheric CO 2 to pre-industrial levels has been launched in East Yorkshire. As well as having the potential to counter the effects of climate change, the Sustainable Landscapes Humber Project could also drastically reduce flooding and improve soil health. The project is a collaboration between Yorkshire Water, Birds Eye, and supply chain consultancy Future Food Solutions, with other brands joining in as different commodities are grown in rotation. Research expertise is being provided by the University of Hull, with support from Teesside University. However, at its core are more than 40 farmers from across East Yorkshire and North Lincolnshire, based in the Yorkshire Water catchment area, who grow peas for Nomad Foods-owned Birds Eye. The Sustainable Landscapes Humber Project involves these farmers growing cover crops in the window between harvesting peas and sowing their next food crop. The cover crops – christened pop up rainforests by Future Food Solutions – are made up of a diverse range of plant species chosen for their ability to capture huge amounts of CO 2 from the atmosphere. Trials funded by Yorkshire Water and facilitated by the UK Birds Eye Agricultural Team show that growing cover crops can increase soil organic matter by up to 40 tonnes per hectare, which can sequester nett over four tonnes of atmospheric carbon per year. As soil organic matter has fallen by 50% over the past 60 years, using cover crops to restore these levels not only has the potential to re-establish soil health, but could also help to reverse the ongoing rise in atmospheric CO 2 levels. The pre-project trials have already achieved a dramatic rise in soil organic matter, more than doubling levels in just five years, from 3.0 % to over 6.0 %. Andrew Walker, Asset Strategy Manager for Yorkshire Water, said the Sustainable Landscapes Humber Project laid the foundations for addressing some of the most urgent problems the world is currently facing. He said: “Growing cover crops to increase soil organic matter is one of the most effective way of combatting the major environmental issues we face today. “In just seven weeks, they generate enough carbon-sequestering organic material to make a significant dent in atmospheric CO 2 . “If grown on a global scale, arable farming could become the first sector of the economy to be net carbon zero.” He added that the Sustainable Landscapes Humber Project could also play a major role in the reduction of flooding in Hull – a notorious problem for the city as much of it lies below the high-tide line. Yorkshire Water is a core partner in the Living With Water partnership in the city, alongside East Riding of Yorkshire Council, Hull City Council and the Environment Agency. “The remit of the Living With Water partnership is to implement measures that reduce or mitigate the impacts flooding has on Hull,” Mr Walker said. “Research shows that achieving just a 1% increase in soil organic matter would enable agricultural land to store an extra 200,000 litres of water per hectare. “Therefore, this project has huge implications for flood attenuation in and around Hull. Birds Eye has long term relationships and collaborations with its growers, so by working with them to increase the levels of soil organic matter in the Humber region, we can make a real impact.” Paul Rhodes, director of Future Food Solutions, added that growing cover crops also has significant implications for soil health and the wider environment. He said: “The plants’ root structure holds the topsoil in place reducing erosion, and the increase in organic matter means less farm inputs are required, enabling farmers to grow food more efficiently and profitably. “Of the inputs that are required, less are leached away into the waterways, making for healthier rivers and watercourses and this has a positive knock on effect on local flora and fauna.” Fellow Future Food Solutions director, Steve Cann, described launching the Sustainable Landscapes Humber Project as a great example of collaboration between utility partners, the supply chain and farmers, and this was just the start with the initiative set to grow as new crops are drilled. He said: “Because of the unique nature of the Birds Eye supply chain and interactions with the growers of the Green Pea company, peas can be the catalyst for change; the same farmers will grow wheat, barley and oil seed rape for other supply chain partners so the potential to upscale the project is huge. “As further crops come into play, we expect to see more food brands coming on board and more farmers starting to grow cover crops as the benefits become clear. This hugely exciting project is set to grow and grow.” James Young, Agriculture and Veg Sourcing Director, Nomad Foods said: “We have a rich history in the Humber catchment area, having worked with local farmers for over 60 years growing highest quality peas for our consumers. “Sustainable agriculture is at the heart of our company purpose at Nomad, and has always been at the core of the partnership with these farmers. “Therefore, we’re very excited to be involved in this project and the opportunity to work collaboratively with partners on finding solutions to issues such as climate change and flooding, as well as improving soil health for future crop production.” Soil organic matter, water content and other metrics will be monitored by the University of Hull on an ongoing basis. Professor Dan Parsons, Director of the Energy and Environment Institute at the University of Hull, said: “We are delighted that this project is underway, with a range of excellent partners brought together by Future Food Solutions and linking to the THYME programme, a £5m project funded by the Research England Connecting Capabilities Fund. “The government’s 25-year environment plan speaks of maximising natural capital and working with nature in our use of landscapes. The Sustainable Landscapes Humber Project is an exemplar of how we can optimise landscape use to amplify ecosystem services, such as bio-diversity and reducing flood risk, whilst also maintaining or improving agricultural crop values into the future. “The innovative practice that will be demonstrated by the project, through digitalisation and high-resolution monitoring and modelling, holds great promise in shaping our use, management and interactions with landscapes into the future.” Paul and Steve formed Future Food Solutions in 2013 to help food brands achieve carbon neutral supply chains. The business analyses supply chains and works with the farmers involved to help them reduce their carbon footprint. Paul, a former farmer, said farmers come in for a lot of criticism from outside the industry for their perceived effect on the environment. But he said the effectiveness of cover crops put them front and centre in the battle against climate change. “Many people see farmers as part of the problem when it comes to the environment,” he said. “But growing cover crops makes the arable farming sector one of the most powerful weapons we have in the fight against the climate emergency.”

Post office turned into animal rescue centre in charred Australian village

The joey rescued from his mother’s pouch after the bushfires that tore through the village of Cobargo on the south coast of New South Wales last week has no name yet, but Kyle Moser is leaning towards “Ali”.In a room at the back of the Cobargo post office, Moser and his partner, David Wilson, are caring for the kangaroo soon to be known as Ali and two wallaby joeys.While they fed the sheep, cows and goats that miraculously survived the blaze amid the rubble of what used to be their home, they explained how they watched in the early hours of New Year’s Eve morning as the fire approached their town.

https://www.theguardian.com/australia-news/2020/jan/06/post-office-turned-into-animal-rescue-centre-in-charred-australian-village

The joey rescued from his mother’s pouch after the bushfires that tore through the village of Cobargo on the south coast of New South Wales last week has no name yet, but Kyle Moser is leaning towards “Ali”. “Like the fighter,” he explains. In a room at the back of the Cobargo post office, Moser and his partner, David Wilson, are caring for the kangaroo soon to be known as Ali and two wallaby joeys. Next door is the remains of a burnt-out cafe. Across the road are the charred ruins of what used to be a leather shop, a yoga studio and an incense shop. “We were told that the fireys really fought to save the post office because they didn’t want to lose it,” Moser says. “It’s humbling, you know? Why do we deserve that?” Moser and Wilson have not been entirely lucky. The couple moved here from Sydney four years ago to start a new life together running the post office. After the weekend’s fire, it has become their home. On Monday they take the Guardian to see what was left of their house in neighbouring Wandella. David Wilson and Kyle Moser, who lost their home outside Cobargo. Photograph: Andrew Quilty/The Guardian While they feed the sheep, cows and goats that miraculously survived the blaze amid the rubble of what used to be their home, they explain how they watched in the early hours of New Year’s Eve as the fire approached their town. “It was terrifying,” Moser says. “I never thought I’d be involved in a bushfire – and never again, hopefully. It was just so scary. I just packed the car. Dave did want to fight it in the beginning but we were worried about getting out. There’s only one road in here.” With their four dogs they headed for the nearby seaside town of Bermagui, which, by 10am, was “pitch black” from smoke. The rumour mill there was in overdrive. They were told the post office had gone, that the whole town was gone. When they returned home a few days later, they found the remains of their house. “I was just numb,” Wilson says. “I think your body just sort of shuts down. I still don’t think we’ve really processed it yet. I’ve literally just found out that we’re covered by insurance and I just feel flat. I think I’ve been carrying around all that stress and now I’m just empty.” There is a terrible irony: as Guardian Australia drives through Cobargo to inspect the blackened ruins of the village and surrounding district, rain falls. Sheep and goats amid the ruins of Moser and Wilson’s destroyed home. Photograph: Andrew Quilty/The Guardian The mild temperatures and wet weather that have helped firefighters in NSW come to grips with the dozens of blazes still burning out of control came too late for many places. On Monday police confirmed an eighth person had died in the south coast fires, bringing the total number of deaths in the state since the start of this bushfire season to 20. A 71-year-old man was found at his property in Nerrigundah, a tiny village about an hour north of Cobargo. What happens to people like Moser and Wilson after the initial crisis has passed? “That was my first thought. My initial thought was, like, what’s next?,” Moser says. “Like, what happens now? I still don’t know.” It has been a week since a father and son, Robert and Patrick Salway, died fighting the same fire at their home in neighbouring Coolagolite. The blaze destroyed dozens of homes and businesses in Cobargo and the surrounding district, and the village became the subject of international focus after the prime minister, Scott Morrison, was heckled during a visit. But after the spotlight moves on to the next town in the fire’s path, life for many here has hit an impasse. The village remains without power and the local showground has become the shelter for a number of people left homeless. People collect food and other essentials at a relief centre at Cobargo’s showground. Photograph: Andrew Quilty/The Guardian It has become a place to find information, get a place to stay, and pick up supplies at a donation stall better stocked than most local general stores. “I don’t even know where most of the donations are coming from any more,” Jess Collins says. “Things show up and are gone again before I know where they came from. Some guys from Jindabyne [about 200km west] dropped some stuff off before.” Collins has been here most days since the fire hit. Though she grew up in Cobargo, she now lives about four hours north, in the town of Goulburn. She came home for Christmas to visit her father, and took shelter at the showgrounds when the hills around his home became engulfed by fire. “I’ll have to go home eventually but for now I just want to help,” she says.

Pandemic Spurs Top Port Operator to Join Blockchain Shipping Platform

DP World joins TradeLens, the shipping platform created by IBM and Maersk. TradeLens works by providing standards-based open APIs that enable supply data to be transparently tracked using a permissioned blockchain.

https://cointelegraph.com/news/pandemic-spurs-top-port-operator-to-join-blockchain-shipping-platform

The COVID-19 pandemic is prompting supply chain actors worldwide to focus their energies on becoming more resilient through better digitization — and in particular through blockchain technology. One of the world’s leading ports operators, DP World, announced on May 28 that it would be joining TradeLens, the blockchain shipping platform created by IBM and Danish logistics giant Maersk. TradeLens is a global supply chain solution with a focus on containerized freight and logistics, which was first launched by IBM and Maersk back in April 2018. The platform’s broadening geographic scope and support for efficient, blockchain-based digital documentation flows appears to be coming into its own during the pandemic. Global value chains — many of which still rely in part on paper-based processes — have come under increasing strain due to unstable supply and demand, transport frictions and labor shortages. Better visibility and reduced operational frictions will be key to the global economic recovery, supply chain experts have emphasized. Mike Bhaskaran, chief operating officer for the Dubai-based operator, told reporters today that “the situation around the coronavirus is a very good catalyst for making sure everyone in the supply chain can communicate with each other digitally.” TradeLens’ potential TradeLens works by providing standards-based open APIs that enable supply chain data to be securely and transparently tracked and shared using a permissioned blockchain. By integrating with TradeLens, DP World will, according to Maersk, be able to improve the efficiency of its operations by being able to track container flows across multiple carriers earlier on in the supply chain cycle. In 2019, DPWorld’s terminals had reportedly handled 71.2 million TEU (twenty-foot equivalent units) from roughly 70,000 vessels worldwide. Maersk’s announcement revealed that DP World intends to connect its entire global network of 82 marine and inland container terminals, as well as feeder companies and logistics divisions, with the platform. The WEF sees blockchain playing a key role in global value chains As previously reported, the World Economic Forum has been highly proactive in advocating for the capacity of blockchain technology to mitigate the impact of pandemic disruptions. In an interview with Cointelegraph, Nadia Hewett — project lead for blockchain and digital currency at the WEF — discussed the scope and vision of a new blockchain toolkit released by the forum to help supply chain actors make optimal use of the technology and improve their digital resilience.

Everton won't build for safe standing without law change

Everton FC has announced that it will not plan for safe standing at its new stadium until there is a law change. While designs for the club's proposed Bramley-Moore Dock ground could include a safe standing to seat ratio of 1.5:1 to boost capacity, Everton is waiting until Sports Grounds Safety Advisory publishes the results of its season-long research in July. The capacity of a stand can be almost doubled when used for standing, according to Ferco Seating, but it is thought that initial regulation changes will only allow for a 1:1 ratio, meaning crowd numbers will not change.

https://www.liverpoolecho.co.uk/sport/football/football-news/everton-wait-any-law-change-18335841

Something went wrong, please try again later. Invalid email Something went wrong, please try again later. New era, new Blues? Sign up for the EFC email bulletin for all the latest Everton news Everton will wait for any potential law changes around safe standing at matches before exploring ways that it could increase capacity at their proposed new stadium. The Blues are waiting to see the report from season-long research carried about by the Sports Grounds Safety Advisory (SGSA) which is expected in July - and any action the government might take off the back of it - before looking into the matter further. But the club have been made aware this week of the possibility of being able to improve capacity at their proposed 52,888 home at Bramley-Moore Dock and how the designs could potentially allow for a safe standing to seat ratio of 1.5:1. Everton have regularly consulted fans and supporter groups over how an increase in capacity could come from a change in the law which allows safe standing at matches. The detailed planning application, issued to Liverpool City Council in late December, confirmed that the Blues' proposed new home would include rail seating in lower tiers of the South Stand (the designated home end) and the North Stand (where away fans would be housed) in order to 'future-proof' the stadium. The Conservatives made a manifesto pledge to work with clubs and fans "towards introducing safe standing" but the feeling is that if any legislation changes are made then, initially at least, it would only allow for a safe standing to seat ratio of 1:1, meaning no change in the capacity of grounds. But Ferco, a spectator seating specialist, have completed work on a small stand at a Telford athletics track which, they say, provides the blueprint for bigger stadiums to increase capacity through safe standing, if legislation changes. In a statement, the company said: "Safe standing moved up a level this month as rail seats were installed for the first time in England with an extra step along every row. "Fitted with rail seats from Ferco Seating, the small stand at Telford Athletics Club is the first anywhere in the UK to have this novel extra step between every row of seats. "While the capacity of the stand when used as seating is just 110, the extra step enables that to be significantly increased when used for standing. With spectators then stood on two levels along each row, the total capacity almost doubles to 198. "For the stadium industry this small stand is thus big news." Everton's designs for a stadium at Bramley-Moore Dock show planned row depths of 750mm and, the experts say, that it is deep enough to potentially allow for the fitting of an "intermediate" step to allow for more fans to stand. The Blues, however, have yet to determine what the optimum ratio could potentially be at Bramley-Moore Dock should legislation change and say their progress on the issue remains based on future law alterations. Wolves have trialled rail seating in the South Bank stand at Molineux this season while, earlier this year, Manchester United announced plans for rail seating to cover 1,500 fans in their J-Stand. Everton are still hoping for a decision from the Council's planning department this summer.

IWG Autonom invests in Impact Hub Bucharest

Autonom has invested €2m ($2.2m) of equity in co-working company Impact Hub Bucharest, along with bank guarantees and credit towards new locations. Impact Hub Bucharest offers start-ups and entrepreneurs acceleration programmes and events, as well as flexible working solutions. The company has three co-working locations in Bucharest, comprising 6,700 sq m of workspace, offices, meeting and event rooms.

https://www.romaniajournal.ro/business/impact-hub-bucharest-lures-new-partner-eur-2-m-investment/

Impact Hub Bucharest, an organization that supports Romanian entrepreneurs and innovators through co-working spaces, team offices, events, and acceleration programs, finalizes the process of redefining the development strategy that started in the summer by taking over the 3house locations, and now through attracting a new shareholder – Autonom. This autumn Autonom has become a shareholder in Impact Hub Bucharest, investing 2 million euros in equity, letters of bank guarantee and lines of credit for the development of the new spaces. Autonom is a company with 100% Romanian capital, founded in 2006, in Piatra Neamț by Marius and Dan Stefan. It is the main provider of mobility solutions in Romania through a unique national network, being also present on the markets of Hungary and Serbia. In the summer of 2019, Impact Hub Bucharest and 3house merged under the same brand, with Oana and Vlad Craioveanu, co-founders of the organization and Ilinca Păun, CEO of The Entrepreneurship Academy as a partner. At the end of 2019, after a short due diligence process, Autonom joined as a minority partner, with an investment of 2 million euros. The new structure will assume a consultative and strategic role for Dan and Marius Stefan, as well as for Ilinca Păun, while the majority of shareholders remaining Oana and Vlad Craioveanu. “8 years ago, when we opened the doors of our prototype co-working space, we don’t know if we were very clearly thinking about where we will be in the next few years. The beginning was a time when we learned a lot about ourselves as people, as entrepreneurs, about the co-working business, about communities and especially we learned that growing a local business is not necessarily so easy. We started from a 50 sqm space opened in 2011 and today we reach 3 spaces, with over 6,700 sqm. We are honoured and thrilled about this partnership and the growth that will follow for Impact Hub, having at our side partners who know what it means to build a solid and ambitious business. Together with Dan, Marius, Ilinca and our team, we intend to carry on the mission of developing new working environments for entrepreneurs, freelancers, smaller or larger companies, opportunities for entrepreneurial development as well as new partnerships between public, private and non-governmental actors from various industries”, said Oana and Vlad Craioveanu, founders of Impact Hub Bucharest. “Impact Hub helps to develop the local entrepreneurial environment, a key direction for Autonom. We are glad that together with Vlad, Oana, and Ilinca we have the opportunity to take another step in this direction,” said Dan Stefan, co-founder of Autonom. Today, Impact Hub in Bucharest has reached 3 locations in central points of Bucharest (Timpuri Noi, Universitate and Floreasca), now occupying an area of ​​6,700 sqm, translated into over 250 places in coworking, 42 team offices, 8 meeting event rooms. Also, the members of Impact Hub University and Floreasca benefit from bistros created under the concept dedicated by the Station by Maidan.

Three quarters of hedge funds managers restructuring fees

Nearly three quarters of hedge funds have changed their fee structures to feature lower management fees and higher performance fees that are subject to a hurdle, according to a study by Citco and HFM Global. The survey of 225 managers found that 72% were changing their fee structures in response to investor pressure on fund charges. Managed funds were the predominant source of inflows for a fifth of those surveyed. Among the findings, 41% of managers said they were looking to diversify into new investing strategies in the next 12 months.  

http://www.businesswire.com/news/home/20170301005744/en/Citco-HFM-Global-Find-Three-Quarters-Hedge-Funds

NEW YORK--(BUSINESS WIRE)--The Citco Group of Companies (“Citco”) and HFM Global today released the findings of one of the most extensive surveys of hedge fund management firms, in which hedge fund managers were asked about their distribution strategies. The research reveals the huge impact investor pressure on fund charges is having on hedge fund firms, with 72% saying they are implementing new fee structures to satisfy this demand. The research also finds that managed account structures, which offer investors increased control and transparency, are now the biggest source of inflows for 19% of managers. This number rises to 28% among US managers. Only half of managers say traditional onshore/offshore hedge fund strategies are now their biggest source of inflows. Interestingly, 13% of managers say alternative UCITS funds are their biggest source of inflows, compared to only 4% who say the same about US alternative ’40 Act Funds, which have been hit by negative investor sentiment over the past two years. Customised portfolios are now provided by 60% of hedge fund firms, with nearly a third of managers (30%) offering special liquidity terms to attract new investors. The research also shows a sector hungry to diversify into new strategies, with 41% of managers looking to move into a new strategy in the next 12 months. Long/short equity is the most favoured diversification route (17%), followed by CTAs (11%) and global macro (8%). In terms of favoured sources of distribution, private bank platforms are seen as the most effective way of generating inflows, with an average favourability score of 3.02 out of five, followed by UCITS platforms, with a score of 2.91, and managed account platforms, with a score of 2.89. Cap intro was judged less effective than any of the platform routes, scoring 2.72, with third-party marketers receiving the lowest average score with 2.49 out of five. The majority of managers (62%) do not outsource any part of their distribution function, preferring to keep things in-house. UK-based firms appear to be more open to it, with 42% of managers saying they would consider outsourcing distribution. Greg Fenlon, Head of Alternative Investor Services at Citco Fund Services (USA) Inc., said: “The hedge fund industry is at a key inflection point. Facing mounting investor pressures and a sustained period of muted performance, it is critical that hedge funds understand how to effectively raise money in this challenging environment. We are constantly in dialogue with clients who are evaluating their fee and fund structures as they figure out not only how to navigate the current landscape but also how to evolve in order to meet investor demands and attract capital. By leveraging our deep industry knowledge, expertise, and high-touch relationships with clients, our research with HFM Global exposes unprecedented insights into firms’ fundraising processes, revealing an industry that has a bullish confidence in the future as well as keen awareness of the need to adapt across the board.” Paul McMillan, head of editorial content at business intelligence network HFM Global, said: “Investors have been demanding an increased alignment of interest on fees for some time and this research reveals the huge number of managers who have been listening and, more importantly, acting. “We have been talking to a range experienced managers in recent months who have been introducing new fee agreements, often with lower management fees and higher performance fees that are subject to a hurdle. Certain investors feel these type of structures better align the interests of the allocator and the management firm by rewarding genuine outperformance and not sub-par returns.” For a full copy of the report Hedge Fund Distribution Trends Survey 2017 please contact [email protected]. About Citco Group of Companies The Citco Group of Companies is a worldwide network of independent financial service companies serving the world's elite hedge funds, private equity and real estate firms, institutional banks, Global 1000 companies and high net worth individuals. Citco companies service these sectors in their respective geographic areas by offering hedge fund administration, custody and fund trading, financial products and corporate and trust planning solutions. Citco has offices in over 40 countries with more than 6,000 staff. About HFM Global HFM Global is a membership organisation with six business intelligence networks focused on different areas of the hedge fund sector: HFMWeek, CTA Intelligence, Alt Credit Intelligence, HFMTechnology, HFMCompliance and HFM Investor Relations. Alongside regular print and online content, the networks run a range of networking and professional development events across the US, Europe and Asia.

Japan is the country most targeted by ad fraud on mobile

The rise in mobile has seen ad fraud increase in this area too, with it estimated to cost advertisers $8.2bn in wasted investment according to Click Mob. The countries most targeted by ad fraud on Android are Japan, Malaysia, Singapore, US and UK. The most countries targeted by ad fraud on iOS are Japan, Saudi Arabia, Australia, Singapore and US. Of these countries Japan was the most targeted by ad fraud. 

http://www.marketing-interactive.com/singapore-targeted-ad-fraud-mobile/

The mobile economy is growing. It is estimated that 59.5% of Google’s net global ad revenues will stem from mobile Internet ads this year, up from about 45.8% in 2015. By 2018, this figure is expected to rise to near 75%.And as maturity in mobile occurs, ad fraud too is creeping in. Today it is costing advertisers an estimated US$8.2 billion in wasted ad investments, said a recent study by Click Mob. And while this is by no means a small amount, the ripple effect leads to a diminishing trust in overall digital marketing.“Even as new standards for viewability measurements have been introduced by the Media Rating Council (MRC), fraudulent advertisers have developed ways to impersonate viewability measurements and meet the newly established standards,” said the study.According to the study today, the 5 countries most targeted by ad fraud on the Android platform are Japan, Malaysia, Singapore, United States and United Kingdom. ClicksMob’s Fraud Fighter detected that the 5 countries most targeted by ad fraud on iOs are Japan, Saudi Arabia, Australia, Singapore and United States. Of the countries most targeted by ad fraud, Android-based fraud in Japan accounted for 12% of the total detected fraudulent activity. Meanwhile, on iOS, fraudulent traffic attempts in Japan accounted for 11% out of the total detected fraudulent activity."Mobile app users in Japan are high value, and therefore are likely more targeted by fraudsters because the payout is high," said the study. There is also a consistent pattern across both device types with Japan, Singapore, and the United States as the top targets, it added.However, there also exists a critical unique difference when it comes to device type susceptibility in various regions. On iOS, Saudi Arabia ranked second in attempted ad fraud cases, accounting for 6% of the detected fraudulent activity. On Android, Malaysia claimed second place, accounting for 8%.The study added that:iOS versus Android matters when it comes to ad fraud susceptibility.According to the fraud attempts detected by ClicksMob’s Fraud Fighter, iOS was 50% percent more prone to fraudulent traffic than Android. Android accounted for 39% of the fraudulent traffic detected, with iOS susceptible to the other 61%. Payouts on iOS are higher than Android, and iOS’s higher susceptibility to ad fraud likely reflects the willingness of an advertiser to pay for a new iOS user.Based on ad fraud tracking and detection by Fraud Fighter, ClicksMob found that:Friday, Saturday, and Sunday were the most targeted days for fraudulent advertising, with Fridays drawing 18% of total attempts.Comparatively, Monday-Thursday claimed 12%-14% per day of total ad fraud attempts that occurred on a weekly basis. This is likely in large part due to a budget shift that occurs, where advertisers are typically spending more on weekends, therefore attracting more fraudulent traffic.The data signifies that as you go off-duty, fraudsters are just beginning their working day. When examining ad fraud attempts on gaming vs non-gaming mobile apps, the gaming category claimed more than one third of all fraudulent activity attempts.Of the total fraudulent traffic detected by ClicksMob and 5 most targeted verticals, gaming claimed 39% of the total fraud attempts, double that of the runner-up, LifeStyle. With higher payouts because the user lifetime value is longer, gaming apps are a much more attractive target for fraudsters.Safe guarding against ad fraudMobile ad fraud is destructive to the entire ecosystem; including advertisers, publishers, performance platforms, ad networks, attribution, and more, not to mention the companies that rely on digital advertising to grow and sustain their businesses. And one thing is clear— if no action is taken, these numbers will continue to rise, undermining billions of dollars in valuable ad investments.There are some key steps ClicksMob has outlined to fight against fraud:Be transparent For too long the industry has swept the issue under the rug and treated it like a dirty secret. Yet this approach only contributes to the tarnishing of the industry’s reputation, and not towards a solution. Everyone working in the industry must be open and transparent about the problem as the first step to finding a solution.Use dataAll companies dealing with mobile advertising have data, and, vast amounts of it. Ad fraud is a data problem, and in order to understand and tackle it, it is essential to look inwards at your own data. There are troves of insights that can be found when this data is analyzed, and this information is key in the fight against fraud.Build campaigns to beat fraudPost install and advanced performance models such as CPA and CPE minimise fraud as they occur at a later stage (after the impression, click and install). In some cases, these models require the user to pay for something - e.g. confirm a hotel booking. By leveraging advanced performance based models, much of fraudulent ad traffic can be more easily identified and weeded out, legitimising highly valuable advertising data once again.CooperateAd fraud is not a problem facing just one company, it’s a problem facing everyone in the ecosystem. Fraud comes in many forms and the criminals behind ad fraud are constantly innovating and improving their fraudulent methods. By working together and participating in information sharing, anti-fraud coalitions, ad-fraud meetups and the like, we all stand a much higher chance of staying ahead of the fraudsters and developing effective anti-fraud solutions.Think like a fraudsterPeople committing ad fraud are cyber criminals, and in order to combat cyber criminals, you must think like one. These criminals are in pursuit of big money payouts, and they’ll innovate in anyway necessary to succeed. Getting inside the heads of these criminals will help you to anticipate potential fraudulent methods.

PwC banned from India for two years due to failure over Satyam

PwC has been banned from auditing listed companies in India for two years as of 31 March by India's regulator Sebi due to its failure to detect fraud over $1bn at IT services firm Satyam Computer Services. In a damning report, Sebi said PwC ignored many red flags and "glaring anomalies...which were all too obvious for any reasonable professional auditor to miss." PwC at present audits 43 of India’s 500 most valuable listed companies, like Tata Steel, and this move by Sebi will cause audits to cease by PwC of 75 Indian companies. However, the ban only applies to listed companies in India, not for unlisted subsidiaries of multinationals.

https://www.accountancyage.com/2018/01/23/pwc-slapped-2-year-audit-ban-india/

Indian regulator the Securities and Exchange Board of India (Sebi) has banned Big Four firm PwC from auditing listed companies in the country for two years, coming into effect 31 March. The ban was imposed due to PwC’s failure to detect fraud over $1bn at IT services company Satyam Computer Services in one of the country’s largest corporate scandals, dubbed India’s Enron. Sebi stated that as Satyam’s auditor PwC ignored several red flags and “glaring anomalies” in the company’s reports “which were all too obvious for any reasonable professional auditor to miss”. In 2009 Satyam chairman Ramalinga Raju resigned and confessed to wide-ranging fraud spanning five years, which saw the company inflating its earnings by over $1bn and overstating the company’s headcount by 13,000. In discussing the fraud Raju explained: “It was like riding a tiger, not knowing when to get off without being eaten”, as the deception grew to “unmanageable proportions.” Raju and 10 other co-conspirators were convicted of corporate fraud in 2015 but are currently all out on bail. In a damning 108 page order Sebi claims the fraud was able to flourish partly due to PwC’s failure to “independently check the veracity of the monthly bank statements”. Sebi explained it was compelled to take a “stern view of market abuse and fraudulent practices, particularly when persons tasked with protecting the interest of investors are themselves hand-in-glove with the main perpetrators of the fraud”. PwC denied any intentional wrongdoing, stating: “The SEBI order relates to a fraud that took place nearly a decade ago in which we played no part and had no knowledge of.” “We have, however, learned the lessons of Satyam and invested heavily over the last nine years in building a robust and high-quality audit practice.” The ban prevents PwC from auditing any listed companies in India, but this does not apply to unlisted subsidiaries of multinationals. PwC and affiliate firms will be permitted to complete any outstanding audits for the financial year 2017-2018, as well as any audits for clients who follow the financial year beginning January 2018. However, the Big Four firm will not be permitted to take on any new assignments or clients. Along with the audit ban PwC was ordered to return wrongful gains of Rs130m ($2m), along with 12% interest per year for the past eight years. When the scandal was uncovered the firm was fined $6bn by the SEC (US Securities and Exchange Commission) for falling short of audit standards. Following revelations of fraud Satyam Computers collapsed in 2009, costing shareholders over $2bn. The company was then sold to rival Tech Mahindra, becoming Mahindra Satyam in a merger in 2012. PwC audits 43 of India’s 500 most valuable listed companies, including Tata Steel, and the ban will cease its audits of 75 Indian companies. The Big Four firm is seeking a stay on the ban. An earlier version of this article incorrectly stated PwC’s appeal was rejected by the Securities and Appellate Tribunal (SAT). The SAT did not agree to stay the order but has agreed to hear the appeal by the end of February.

Restaurant offering free food and delivery to elderly in generous community spirit

The Spice Empire in Cleobury Mortimer has begun offering free food and delivery to the elderly who are struggling while in self-isolation or quarantine in fears over coronavirus.Owner Wasim Kabir said it was the least they could do to help people and he understands that people are worrying about the elderly, as he is worried about his grandparents as well.In a post on their Facebook page on Wednesday, the restaurant said to help each other out, they would offer the elderly support by providing any food free of charge.

https://www.shropshirestar.com/entertainment/dining-out/2020/03/21/restaurant-offering-free-food-and-delivery-to-elderly-in-generous-community-spirit/

Offering free food and delivery, owner Wasim Kabir, of Birmingham, at The Spice Empire, Cleobury Mortimer The Spice Empire in Cleobury Mortimer has begun offering free food and delivery to the elderly who are struggling while in self-isolation or quarantine in fears over coronavirus. Owner Wasim Kabir said it was the least they could do to help people and he understands that people are worrying about the elderly, as he is worried about his grandparents as well. "People are really struggling here and it is a horrible virus," Wasim said. "It is in our culture to look after one another. The initiative has been really popular. I'm still working my way through all the nice messages we have received." In a post on their Facebook page on Wednesday, the restaurant said to help each other out, they would offer the elderly support by providing any food free of charge. Wasim said many families have contacted them concerned about loved ones they can't reach. "One family that contacted us is in self-isolation and so they need help – we always try to support the community," he said. "We can physically see strains happening on businesses. Our takeaway service is a lot busier anyway. We have got food and we can provide it with our delivery drivers. "We have all got grandparents. It is an unfortunate time. Cleobury is well known for its community spirit. "In the meantime we are obviously trying to stay as safe as possible, for our staff. We ask people to be open with us. "Some families are really struggling. Sometimes you can't even afford food let alone coming out to get it." Wasim also said that the Prime Minister's speech took its toll on the business as there were no clear instructions. "It really makes your mind think. The moment Boris Johnson mentioned about restaurants and pubs it took an effect.

Saudi Arabia attempts to salvage Newcastle United takeover with piracy crackdown

Saudi Arabia has pledged to take action against the illegal streaming of sporting events in an attempt to salvage the controversial Saudi-led takeover bid of Newcastle United. The Saudi Arabian Football Federation (SAFF) wrote to major sports bodies, including the Premier League, Uefa, Fifa and the International Olympic Committee, insisting it understood the need to protect intellectual property rights.

https://www.middleeasteye.net/news/saudi-arabia-newcastle-united-takeover-piracy-crackdown

Saudi Arabia has pledged to take action against the illegal streaming of sporting events in an attempt to salvage the controversial Saudi-led takeover bid of Newcastle United. The Saudi Arabian Football Federation (SAFF) wrote to major sports bodies, including the Premier League, Uefa, Fifa and the International Olympic Committee, insisting it understood “the need to protect and respect intellectual property rights”. "Sporting rights are the lifeblood, which feed the future not just of elite clubs, but of the entire sporting pyramid,” SAFF president Yasser Hassan Almisehal wrote in correspondence seen by the BBC. "With our sporting ambition comes a responsibility to help [fight] piracy and as a nation we already have the rigorous governance framework to do just that." In addition to SAFF’s statement, the Saudi Arabian Authority for Intellectual Property pledged to eliminate piracy and claimed to have shut down 231 illegal platforms. Stay informed with MEE's newsletters Sign up to get the latest alerts, insights and analysis, starting with Turkey Unpacked في إطار جهود المملكة للحد من انتهاكات حقوق #الملكية_الفكرية نستهدف حجب ٢٣١ موقعاً إلكترونياً مخالفاً لأنظمة الملكية الفكرية تمهيداً لإغلاقها ..#احترام_حقوق_الملكية_الفكرية pic.twitter.com/jNIRV3qYP9 — الملكية الفكرية (@SAIPKSA) June 21, 2020 Translation: Within the framework of the kingdom's efforts to reduce violations of rights, we aim to block 231 websites that violate intellectual property rules, with a view to shutting them down It comes just a week after a damning World Trade Organisation (WTO) ruling found that “prominent Saudi nationals” promoted pirate network beoutQ, which illegally streamed content from Qatar's beIN Sports. The ruling made reference to several tweets promoting beoutQ, including from Saud al-Qahtani, who served as a close aide to Crown Prince Mohammed bin Salman before being implicated in the murder of Middle East Eye and Washington Post columnist Jamal Khashoggi. The WTO found that Saudi Arabia "acted in a manner inconsistent" with international laws protecting intellectual property rights and urged the country to "bring its measures into conformity with its obligations". Despite the ruling, the Saudi foreign ministry spun it in a positive light, highlighting the line that there was “no copyright pirate found to be based in Saudi Arabia”. https://twitter.com/KSAmofaEN/status/1272958199965061121 BeIN sports presenter Richard Keys was keen to point out that beIN was the only place to watch football “legally”, in clear reference to the ongoing dispute. There’s been plenty to talk about so far - and we’re back at it on #beINSPORTS today with live games from Spain Italy Germany EPL & of course PL. All the games - all the time - all in one place - legally. It’s the hottest ticket in town. Join us - and don’t miss a thing. — Richard Keys (@richardajkeys) June 20, 2020 Lawyers from the Premier League have been reviewing the piracy issue for over two months as part of its owners’ and directors’ test, which looks into the background of parties seeking to purchase football clubs. In April, Saudi’s Public Investment Fund, which is chaired by MBS, launched a takeover deal for around $368m that would give it an 80 percent stake in Newcastle United. Many of the club's supporters responded by sharing MBS memes, adding Saudi flags to their Twitter profiles and, in some cases, joking about human rights abuses. In addition to illegal streaming concerns, the prospective takeover has also been criticised by human rights advocates for “sportswashing” Saudi human rights abuses. Hatice Cengiz, the fiancee of Khashoggi, wrote an emotional plea to Newcastle fans last month, urging them to “slam shut the door on this offensive deal”. Newcastle United returned to Premier League action on Sunday after a three-month break due to the coronavirus outbreak, beating Sheffield United 3-0. Some fans on social media dubbed it the “Saudi derby”, in reference to Sheffield United being owned by Abdullah bin Musaad, a Saudi prince and cousin of MBS.

Fosters and VB aim for 100% renewable energy by 2025

Anheuser-Busch InBev, the parent company of Carlton United Breweries and the Foster's Group, has committed to buy all of its electricity from renewable sources by 2025. The company aims to achieve its target before the deadline, producing 15-25% of the necessary energy from on-site technologies like photovoltaic cells. The announcement comes as Australia is beginning to consider the potential of renewable energy.

http://reneweconomy.com.au/no-small-beer-fosters-vb-to-go-100-renewable-by-2025-2025/

One Step Off The Grid Some of Australia’s most iconic beer brands are set to be brewed using 100 per cent renewable energy, following the commitment by Foster’s Group and Carlton United Breweries parent company, Anheuser-Busch InBev, to buy all of its electricity from renewable resources by 2025, including on-site solar. Joining the Googles and the Apples, Ikea, Walmart and Amazon, AB InBev’s decision to shift to renewables is not groundbreaking, but it is a big one. According to a company statement in March, it will mean shifting some 6 terawatt-hours of electricity a year to renewable sources in the markets where AB InBev operates – including, of course, Australia. The company said last week it could reach its target well before 2025. It expects to secure between 75-85 per cent of electricity through direct power purchasing agreements, from large-scale wind and solar farms – and the final 15-25 per cent mainly from on-site technologies like solar PV. The huge effort has kicked off in Mexico, which is home to the company’s largest brewery, in Zacatecas. There, AB InBev has signed a PPA with Iberdrola for 490 gigawatt-hours a year, allowing it to meet all of its purchased electricity needs for production sites in the country. For Mexico, the deal is expected to boost the country’s wind and solar capacity by more than 5 per cent, with Iberdrola building and installing 220MW of wind energy capacity onshore in the state of Puebla, aiming for production to begin in the first half of 2019. For Australia, the flow-on effect of InBev’s renewables commitment also promises to be significant, and will likely result in PPAs for large-scale wind or solar farms, as Telstra has done for a 70MW solar farm in Queensland, and Sun Metals is also doing for a 116MW solar farm. The brands coming under the Foster’s Group’s umbrella include the iconic Australian exports, Foster’s Lager, Crown Lager and Tasmanian staple Cascade. The beers of Victorian-based giant, Carlton United Breweries (CUB), are also in there, including Victoria Bitter and Carlton Draught, and other boutique brands such as Yak, Matilda Bay and Redback. One Step Off The Grid spoke to CUB on Tuesday, who confirmed that the Australian brewer would soon be announcing its own renewable energy projects and/or PPAs, in line with AB InBev’s commitment, but had no detail on these yet. The news comes at a significant time for Australia, with no shortage of proposals for large-scale solar and wind farms, and as big corporates start to wake up to the value of renewable energy. Corporate PPAs are considered to be an important driver for new wind and solar farms, particularly as the large electricity retailers fill their requirements under the 2020 renewable energy target. However, a recent ARENA report found that less than half of Australian businesses actually sourced any renewable energy at all; and when they did, it was for less than 10 per cent of their needs. But this is changing – even if that change is getting little to no mainstream media attention. And it is changing not just because of companies’ commitments to fighting climate change, but because it is smart business. Take the new owners of South Australia’s ageing Whyalla steel plant. They are turning to wind, solar and storage, and are even considering going 100 per cent renewable energy. Why? Because they say the key to making the mine viable is to turn to green energy. Certainly, smaller businesses are already onto it. And in the business of brewing beer, there a numerous “craft breweries” dotted around suburban and regional Australia that are already powered by rooftop solar. But of course, it’s a little more complicated than throwing panels on the roof in the case of huge global companies like AB InBev. Paul Curnow, from legal firm Baker McKenzie, told One Step last month that corporate power purchase agreements will be a major part of the plan for big energy users like AB InBev. And that an increase in the number of major deals like this could fast-track Australia’s energy market transition. “I think we will see a lot more PPA contracting,” Curnow said. “There is real disruption out there. I don’t think we will have the same retailers we have now in 10 years time,” It means, however, that some businesses may have to take an element of spot market risk in large off-takes, as Telstra is doing in its investments. “It’s not insurmountable but it can be a “cultural issue”, Curnow says. For AB InBev, the new commitment is expected to make it the largest corporate direct purchaser of renewable electricity, globally, in the consumer goods sector, reducing its operational carbon footprint by 30 per cent. The company has also joined RE100, a global initiative of influential businesses committed to using 100 per cent renewables, led by the Climate Group in partnership with Carbon Disclosure Project. “Climate change has profound implications for our company and for the communities where we live and work,” said AB InBev CEO Carlos Brito in the March statement. “Cutting back on fossil fuels is good for the environment and good for business, and we are committed to helping drive positive change. We have the opportunity to play a leading role in the battle against climate change by purchasing energy in a more sustainable way.” This article was originally published on RenewEconomy’s sister site, One Step Off The Grid, which focuses on customer experience with distributed generation. To sign up to One Step’s free weekly newsletter, please click here.

Enel begins work on 199 MW extension to 400 MW Kansas wind farm

Enel Green Power is undertaking a $281m expansion of the 400 MW Cimarron Bend wind farm in Kansas. An extra 74 turbines will be installed, increasing capacity to 599 MW, of which 150 MW will be sold via a 15-year power purchase agreement (PPA) with Evergy and 30 MW will be sold to the Missouri Joint Municipal Electric Utility Commission under a 12-year PPA. The project is expected to be completed by the end of the year.

https://renews.biz/61090/enel-kick-starts-199mw-kansas-wind-expansion/

Work underway on the third stage of the Cimarron Bend project that will bring total capacity to 599MW Enel Green Power has started construction on a 199MW expansion to the 400MW Cimarron Bend wind farm in Clark County, Kansas. The addition of 74 turbines will increase the capacity of the project to 599MW. Enel said it is investing $281m (€251m) in the expansion, which is expected to be completed by the end of 2020. The first two phases of Cimarron Bend entered into service in 2016 and 2017, involving an overall investment of over $891m. On completion of the third stage overall output at the project will be 2.7 terrawatt-hours a year. Electricity from a 150MW portion of the expansion is being sold under a 15-year bundled power purchase agreement (PPA) with electric services company Evergy. The PPA will include support for Evergy’s Renewables Direct program, which allows commercial and industrial customers to offset a percentage of their energy usage through renewable sources. The Missouri Joint Municipal Electric Utility Commission, which supplies municipal power for more than 60 communities in Missouri and Arkansas, will purchase 30MW of the project under a 12-year bundled PPA. Electricity and renewable energy credits from the original 400MW portion are sold under bundled, long-term PPAs with Google and the Kansas City Board of Public Utilities. Enel Green Power chief executive Antonio Cammisecra said: “As one of the largest renewable power producers in North America, Enel Green Power is committed to excellence in not only developing and constructing new projects but also strategically expanding our existing fleet. “The expansion of Cimarron Bend is a testament to both the maturity of our wind operations and our commitment to growing a portfolio of state-of-the-art renewable plants that will generate value for many years to come, while providing sustainable energy.” Evergy manager of products and solutions for renewable sources Kevin Brannan said: “As we continue implementing more renewable energy into our overall generation mix, Evergy is pleased to partner with Enel on this expansion project to add to our total wind capacity. “This helps us reduce carbon emissions and increases our wind energy levels, which leads us toward more sustainable operations and ultimately benefits our customers.”

European government's fear of Brexit contagion

EU governments fear that the Brexit vote will lead to a referendum contagion across the continent and that far-right parties would use it to fuel anti-EU sentiments threatening the Schengen agreement, the euro and EU membership itself. According to a recent Ipsos Mori poll, 55% of the electorate in France and 58% in Italy would like to take the issue of EU membership to a vote, with more than half the respondents believing Brexit would have a 'domino effect.' As the Vote Leave campaign gathers momentum and the probability of victory higher than Downing Street hoped, governments are starting to prepare for the possibility of Brexit and how they would engage with the UK.

https://www.buzzfeed.com/albertonardelli/referendums-everywhere?utm_term=.iwVdBWXJ3#.mp0nr3087

One source who spoke on condition of anonymity said: “Denmark is looking very closely at the People’s Party reaction to the British referendum. ... As a country we have historically been among the most positive towards the EU. Although it is still quite high, this figure has dropped in recent years. We, as pro-European parties of government, are all at the moment vulnerable to EU-sceptic populism.” None of the governments BuzzFeed News spoke to have detailed contingency plans already in place, but are starting to prepare for the possibility of Brexit and how they would engage with the UK. Their underlying assumption is that the British public will vote to remain in the EU, even though officials admit they gather from recent conversations with Downing Street, and diplomatic backchannels, that the probability of a Leave victory is higher than hoped. “Up until now the possibility of Brexit was mostly viewed as an intellectual sideshow, and our hope is for a strong Remain win [more than 55%]," a French official told BuzzFeed News. "But the shock of an exit would make parties act fast, and while there are no detailed plans, we are starting to prepare for the possibility.” They said that if Britain votes to leave, calls for a referendum on France's status in the EU could become one of the top issues during next year’s presidential election. However, the same official isn’t convinced that the Front National will ultimately choose to campaign for a straight in/out vote on EU or euro membership, and speculates that the party could instead question one specific aspect of the EU, such as pulling France out of Schengen, the agreement that allows visa-free travel within most of Europe's economic area. According to multiple sources, the issue of contagion will not be limited to how populist parties in western Europe react to a potential Brexit. One official said the reaction among more recent EU members in eastern Europe should also be followed closely. On one, immediate, level, there are countries such as Hungary staging referendums to refuse a quota system for the relocation of refugees. On a deeper level, the official said, a British exit could heighten tensions between pro-European and pro-Russian sections of their populations. However, the source said the EU was confident it could contain this. “Many such countries joined the EU with the same motivation they join NATO: for security and geopolitical reasons – and their concerns are the same with or without the UK.” A French government official said that the best way to address these particular worries would be for Europe’s core countries – mainly France, Italy, and Germany –to send a strong signal of unity immediately after a UK vote. But the same official was keen to stress his government's view that such a message, and these issues, are ultimately independent of the Brexit debate because security concerns and the future of the EU go beyond Britain's possible departure.

Thales provides threat analysis support to NHS Wales for free

French IT services company Thales is offering its cybersecurity threat analysis coverage to NHS Wales Informatics Services team for free until September 2020. The package will secure vital systems and provide protection for those working remotely, helping the organisation to guard against attacks at a time when cyber crime is on the rise and the NHS can least afford to protect itself. Thales' Director of Cyber, Consulting and Digital Trust, Russell Cameron, described the decision to provide the support as a "no-brainer".

https://www.verdict.co.uk/thales-cybersecurity-nhs-wales/

Amid the coronavirus, healthcare organisations across the world are being battered by cyberattacks at a time when they can least afford to be compromised. This has seen the cybersecurity industry unleash a wave of support for healthcare, and for NHS Wales support has come from heavyweight Thales. The cybersecurity company has provided its technical threat analysis service free of charge to the NHS Wales Informatics Services (NWIS) team until September, a decision that Russell Cameron, director of cyber, consulting and digital trust at Thales describes as a “no-brainer” for the company. “In these highly unusual times, it is vital that we protect the systems our healthcare workers rely on,” he tells Verdict. “As a company, we have been inspired by the work, resilience and fortitude of our NHS workers, not only in Wales, but across the board who are offering their skills to help those in need. In a lot of ways this is our way of saying thanks.” How Thales is helping NHS Wales beef up its cybersecurity The technical threat analysis service provided by Thales has already been supplied to healthcare organisations in France, and is designed to help organisations shield themselves against cyberattacks. “By being able to access Thales’s technical threat analysis service, the NWIS team will be able to better protect vital systems from a surge in cyberattacks,” he says. “Furthermore, the agreement means that those working remotely are also protected from outside threats, by now having free access to collaborative work solutions such as Citadel and Cryptobox.” The initiative has also been welcomed by the Welsh government, which has previously partnered with Thales as part of an ongoing effort to build cybersecurity might in the country. “Partnership working between the Welsh public sector and the private sector has never been so important as we all work together to slow the spread of coronavirus,” said Ken Skates, Minister for Economy, Transport and North Wales, when the initiative was announced. “Wales is playing a leading role in the rapidly expanding cybersecurity sector and the Welsh Government’s support for this vital area of work is evident, not least in our collaboration with Thales on the National Digital Exploitation Centre – our £20m cyber centre in Ebbw Vale, which is working to deliver the next generation of cyber talent in Wales. “The Welsh Government is calling on all businesses to respond to the huge challenges presented by this pandemic. I would like to thank Thales, and many companies like it, for their efforts which will help ease pressures on the NHS.” Cyberattacks amid the coronavirus As the world battles the coronavirus, hackers have seized on the opportunities it creates for them to infiltrate systems and steal data. Not only has there been a spate of attacks targeting healthcare organisations, but there has also been a dramatic rise in coronavirus-themed phishing attacks. “Hackers are opportunistic, seeking out anything that could make them a financial or reputational gain, and Covid-19 is no exception,” says Cameron. “The challenge for IT teams is no different in their approach to security on a day to day basis, but more so from a resource perspective, as hackers take advantage of potentially stretched teams.” For healthcare organisations such as NHS Wales, however, it is particularly challenging at a time when any impact to systems could have damning consequences, and Cameron urges any that are struggling to get in touch with members of the industry for help. “Healthcare leaders must be vigilant though and ensure cybersecurity remains a priority in order to enable the rest of the organisation to do its job,” he says. “A cyberattack could bring down a system or enable hackers to steal sensitive information that could be being used in the fight against the virus. Those healthcare providers that do not have adequate resources should get in touch with the security industry for assistance and allow it to ease the pressure on the service.” The changing cybersecurity landscape As much as the coronavirus has created a new normal in the physical world, it has also shifted the cyberattack landscape along with it. “This crisis has taught us what we already know, how important it is to secure our data and have the highest security systems integrated to curb vulnerabilities. The cyberattack landscape has changed in how the virus has evolved, with attacks first appearing in Asia, Central and Eastern Europe and finally in Western Europe,” says Cameron. “It seems likely that France and Europe more broadly will observe a rise in the numbers of cyberattacks against their institutions and organisations – as prove by the recent attack on Paris hospitals.” This has also been seen echoed in the switch to remote working. “We have seen hackers attempting to take advantage of the increased remote working with the development of new Android apps allowing users to follow the propagation of the virus in the world. Most of these, such as CovidLock, are corrupt and contain ransomwares or ask for banking details,” he says. “Some of the hackers are also launching phishing or spearfishing campaigns, using the Covid-19 as a lure in order to better infiltrate IT systems. “Many domain names linked to the Covid-19 have been created in the past few weeks with more than 50% of these names possibly leading to the injection of malware. For example, hackers’ duplicate websites using interactive maps on the progress of the virus and add malware to them. “As a company, Thales has looked to use its expertise in any way it can during the current crisis, and this is why we have offered our services to NHS Wales in this way.” Read more: Coronavirus hackers face the wrath of the cybersecurity community

Petrofac Petrofac cancels five placements at IIT Bombay

Petrofac has withdrawn five placement offers at the Indian Institute of Technology (IIT) Bombay, amid a slump in activity due to the Covid-19 pandemic, the Mumbai Mirror has reported.

https://mumbaimirror.indiatimes.com/mumbai/other/oilfield-major-revokes-5-iit-bombay-offers/articleshow/75614952.cms

Oilfield services provider Petrofac premier technical institute IITs and IIMs IIT-Bombay institute’s alumni associations network of global corporate connections NMIMS feels recruiters will honour commitments Recruiters defer joining dates in NMIMS; other IITs, IIMs in the same boat.has rescinded five placement offers and an Andheri-based banking and financial services firm has withdrawn one offer at IITBombay in the wake of the ongoing Covid crisis. Furthermore, as many as 50 to 60 firms are yet to confirm their offers made during the first phase of placements at thelast December.With industrial and economic activity coming to a halt due to the pandemic, top institutes across India, including the, have seen corporates withdraw offers over the course of the last month. At the time of going to press, Petrofac had not responded to Mirror’s queries.An IIT Bombay student, whose placement offer was revoked, told Mirror that he got his withdrawal letter in April. The company had planned major projects with huge investments, which had to be suspended at a short notice as result of the crisis in the oil sector. He said, “The refineries are not working. Work contracts are on hold. So, the firm could not honor our offers. Right now, we are not expecting any proper conversation from their side. We are hoping everything settles down and work permits are restored so that we can open communication with them.” He said he has not reached out to them as they cannot assure candidates like him. “I plan to contact a few other firms that were earlier interested. There will be more options ahead. I am just waiting till June for things to improve. There is also a possibility of sudden growth in opportunities,” he said.To tide over the problem,has requested all the recruiters to defer the joining of the selected candidates until August 1, to which most of them have agreed. Students said about 50 to 60 recruiters have to still confirm their offers.One student whose offer was withdrawn by another oil services provider Shlumberger has been re-employed in the same firm, but in a different vertical, the institute told Mirror in an email response.Sources at IIT-Bombay said that as companies started withdrawing offers, there was an initial plan to create a portal from where students could be picked up by other firms that had an immediate requirement. However, given that there were only a few cases, the portal was not found necessary. Meanwhile, thewith theirare helping to look for more options.For the first phase of 2019-20 placements at IIT-Bombay that started on December 1, 1,700 students had registered. The second phase in January was earlier put on hold. The institute said it is in progress at the moment and some companies have already shown interest in hiring students. Online and telephonic interviews are being conducted and students whose offers were revoked are allowed to participate in this phase.At IIT-Madras two companies withdrew placement offers, driving students to refresh their job searches on employment portals. IIT-Madras said the institute has reached out to its alumni with a request to help in finding suitable placement opportunities for students who have lost their job offers and those who are yet to be placed.Similarly, students from top business schools, including the IIMs and Mumbaibased NMIMS, are facing the brunt of economic distress.A faculty member from a management institute told Mirror on condition of anonymity that many students have told him that in Mumbai institutes, as well as in IIMAhmedabad, many offers have been put on hold. He said, “That means the joining dates have been advanced. It is quite frightening as 50 per cent of the class is waiting for confirmation of offers. Summer internships are continuing as that can be done online. Actual withdrawal of offers is less. Very few have joined the jobs, but a large majority who had overseas offers with high salaries have been put on hold.”In an email reply, a representative of NMIMS said the final placement offers “are just trickling in” and there is uncertainty about joining dates. The institute wrote, “As of now we feel that our recruiters would honour their commitments. Some have announced the e-onboarding (getting employee on board) dates and many have said that the joining dates would depend on the government mandates, the unlocking steps and schedule of each company, travel and other advisories, depending on how the situation pans out.”

Financial consumer group says robo-advisers are failing investors

Robo-advice services fail small investors, according to research conducted by the Panel for Boring Money for the Financial Services Consumer Panel. Many firms that use online investment and advice services fail to use language that small investors understand. In addition, such services fail to communicate whether they are providing regulated advice or unregulated guidance, and do not disclose costs in a transparent manner. It is rare that they state clearly whether consumers would be able to go to the Financial Ombudsman Service for recourse should anything go wrong. Many who use these services are looking to invest the cash released under new pension rules.

https://www.fs-cp.org.uk/‘robo’-advice-fails-investors-says-financial-services-consumer-panel

The Financial Services Consumer Panel has today published research and a position paper on the consumer experience with online investment and advice services (often called ‘robo’-advice). The research, conducted for the Panel by Boring Money Ltd, concluded that many online investment firms failed to: Communicate clearly whether they were providing regulated advice or guidance; Disclose costs and charges in a way that allowed consumers to understand how much they would be paying and for what; State clearly whether consumers would have recourse to the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS) should things go wrong; Use language that consumers understood. The research also found that consumers in the sample did not understand the difference between regulated advice and guidance. The Panel recommends that: The FCA clarifies and enforces strongly existing rules designed to address the problems identified in the research, whether or not regulated advice is being provided; The FCA leads an industry and consumer working group to develop simpler, more consumer friendly, language to be used consistently across the sector; and The FCA should ensure firms quoting all-in fees are complying with the current rules on costs and charges. Sue Lewis, Consumer Panel Chair said: “More and more people with relatively small amounts of money to invest are turning to online investment services, many of them with cash they have released under pensions freedoms. They need to know exactly what they are buying, what it costs, and what happens if something goes wrong. Most online firms are not giving them this information clearly, most of the time. It is obvious these firms do not have a clue how to communicate in a way their customers understand. The FCA should enforce its rules in this area vigorously, whether firms are giving regulated advice or not, before more people who can ill afford it lose out.” ENDS MEDIA ENQUIRIES: Cemile Turker (Consumer Panel): 020 7066 3426 NOTES TO EDITORS: The Consumer Panel is a statutory body under the Financial Services Act 2012. The Financial Services Authority originally established it in December 1998. The Panel advises the FCA on the interests and concerns of consumers. The Panel’s membership is drawn from a broad range of backgrounds with expertise including market research, law, financial services industry, financial inclusion, European Regulation, financial regulation, consumer advice, campaigning, communications, compliance and later-life issues. The emphasis of the Panel's work is on activities that are regulated by the FCA, although it may also look at the impact on consumers of activities outside but related to the FCA's remit. More information about the Panel's work is available on its website: www.fs-cp.org.uk or via its LinkedIn and Twitter accounts. The research report completed by Boring Money Ltd on behalf of the Panel is titled ‘Assessing online investment & advice services’ and can be found here The Panel’s position paper Online investment and advice services – the consumer experience’ and can be found here The FCA’s existing rules on investment sales and advice can be found in various parts of the FCA Handbook, with different provisions applying depending on the nature of the service provided by the firm. Rules include: what information firms must disclose to clients before providing a service so that the client understands the nature and risks of the service and type of designated investment being offered, information about costs and associated charges and providing information about the Financial Ombudsman Service and FOS. Further detail can be found in Annex 2 of the Panel’s position paper.

Dr Oetker reveal café franchise plans

Frozen pizza and baking goods maker Dr Oetker is opening a retail outlet. The pilot store, located in Koblenz, Germany, features a café showcasing goods baked with its products and a convenience store. The company plans to franchise the concept which has been branded Frau Renate.

https://www.frozenfoodeurope.com/dr-oetker-showcases-foodservice-concept/

Dr. Oetker has developed a foodservice concept called Frau Renate that the company intends to implement in retail on a franchise basis, with the first store opening in EDEKA Markt Goerzen, in Koblenz. Frau Renate will feature bakery products, bistro, and convenience store. It will serve original dishes that are prepared with Dr. Oetker products. The offer will include modern-inspired German and international kitchen classics, combined with fresh dishes for a light, conscious diet. Among those will be breakfast options from curd dishes and porridges, unusual sandwiches, trendy bowls, sweet and savory baked waffles, original pizza creations, and pudding variations. Dr. Oetker offers business assistance and extensive support in the introduction, implementation and operation of a profitable commercial catering service. Due to the nature of recipes and a certain degree of convenience of the dishes, no specialist staff, such as a chef, is required to operate the store. The business model is based on Frau Renate retaining 80% of the items from the store and is therefore efficient, practical, sustainable and extremely attractive for market owners. “The concept draws the brand understanding and the product portfolio from the Dr. Oetker one, but it should not be understood as an ‘end in itself’. We don’t do it for ourselves, but for the trade,” explained Hans-Wilhelm Beckmann of Dr. Oetker Germany. “Rather, it is an aid to trade and sales support at the same time. Because the store concept can be implemented and used individually and variably through different modules, it can be used on both larger and smaller areas in almost every segment.”

When is a Negative Covid-19 Test Truly Negative?

False negatives run the risk of increasing community transmission. It would be reassuring to know the true sensitivity or ability to catch true positives of the slate of tests currently being used. One solution is multiple applications of even a low-sensitivity test.

https://www.contagionlive.com/news/when-is-a-negative-covid19-test-truly-negative

Amid the concern about the availability of testing for the novel coronavirus 2019 (COVID-19), and the focus on the sometimes lengthy delays in getting results, clinicians and patients should be aware that a subset of tests—no matter how abundant testing is in any particular locale and how quickly results are returned—will generate results that are false. While both false negatives and false positives are undesirable, false negatives run the risk of increasing community transmission should individuals erroneously believe they’re not infectious and fail to take necessary precautions. This can occur whether people have no symptoms or have symptoms but assume they’re due to something other than COVID-19. Given the skyrocketing numbers of infection in the U.S., it would be reassuring to know the true sensitivity—or ability to catch true positives—of the slate of tests currently being used. “The figure that a lot of people have been using is 70%, but it’s really fuzzy and hard to hang your hat on it,” Steven Woloshin, MD, MS, a general internist and co-director of the Center for Medicine and Media at The Dartmouth Institute for Health Policy & Clinical Practice in Lebanon, NH, told Contagion®. “The problem is nobody really knows.” Ideally, any new test given emergency authorization by the U.S. Food and Drug Administration (FDA) can be evaluated against a clinical gold standard that would definitively establish whether or not a person has COVID-19. However, Woloshin explained, such a standard does not currently exist. “[P]reviously authorized PCR tests are used as the gold standard when FDA considers authorizing new tests,” Woloshin said. “That is, the assessment consists of seeing the level of agreement when the old test is positive or negative. This approach overestimates sensitivity because the old test might be [a] false negative.” According to Woloshin, several recent studies have highlighted a significant rate of false negatives, particularly if the test is administered soon after exposure to the virus. In these cases, tests may not capture viral material because there is not yet enough virus in the person to be picked up. It’s also possible that poor testing technique can miss any virus that is there. What should clinicians do when a patient tests negative but there is a question as to whether that result is accurate? One solution is multiple applications of even a low-sensitivity test, Woloshin said, the idea being that with more tests comes the likelihood that the virus will be detected. Before recommending repeat tests, clinicians may want to take into account whether the patient has symptoms and whether the patient is in an area that has experienced a lot of infection. A patient with symptoms in a hot spot who tests negative might be reasonably assumed to have the virus, while an asymptomatic patient in an area of low transmission who tests negative probably can take comfort in that negative result. Woloshin pointed out that it can be difficult to assess a location’s true COVID-19 prevalence without doing random testing within the community, as many people will never seek out a test unless they experience symptoms. Positivity rates at testing centers can give ballpark estimates of viral prevalence, he said. One potential game changer in the effort to stop transmission would be the availability of inexpensive rapid tests less sensitive ones--that individuals could administer at home, ideally daily. Researchers at MIT, Harvard, and the Howard Hughes Medical Institute are developing 1 such test that hopefully will allow consumers to do a simple nasal swab or saliva test and get results in an hour, and other labs reportedly are working on similar platforms. While it’s unquestionably important for people who have Covid-19 to know their positive status as soon as possible, given that some people are much more efficient at spreading the virus than others, Woloshin would like to see testing go even further. “The holy grail would be a test that tells you if you’re infectious,” he said.

Redrow Chairman Steve Morgan steps aside into non-executive position

Steve Morgan will step down from his role as chairman at Redrow Homes and take on a non-executive role, the company has announced. Morgan said he will continue to focus on developing business strategies and will retain involvement with key projects. The news came shortly after Redrow reported a 20% increase in its revenue to a record £1.66bn ($2.16bn) for the year to the end of June.

http://www.construction.co.uk/construction-news/234324/redrow-chairman-to-step-down-to-non-executive-role

Construction News 05/09/2017 Redrow Chairman To Step Down To Non-Executive Role -- Advertisement -- The news comes after the company reported its revenue has risen 20% to a record £1.66 billion in its final results for the year to 30 June 2017.In addition, the Group recorded record pre-tax profit of £315m (a 26% increase from £250m in 2016) with net debt also being reduced form £139m in June 2016 to £73n in June 2017.Elsewhere, the company's operating margin rose to 19.4% (2016: 18.9%).The rise in turnover is attributed to the combination of the increase in legal completions to 5,416, combined with a 7% rise in average selling prices to £309,800 (2016; £288,600).Steve Morgan, Chairman, said: "Redrow has continued to build much-needed new homes across England and Wales with completions up 15% to over 5,400."Our growth strategy has delivered record financial results for the fourth consecutive year. Pre-tax profits were £315m, up 26% on the prior year, with a 27% increase in earnings per share to 70.2p."Redrow began the current financial year with a record order book, up 14% year on year to £1.1bn. Sales in the first 9 weeks are very encouraging, up 8% on a strong comparator last year."Based on the strength of our current performance and the robust demand that we are seeing, we are today updating our medium term guidance. We now expect turnover in 2020 of c£2.2bn and pre-tax profit of c£430m. We expect the dividend in 2020 to rise to 32p per share."Our strategy of continued growth for the business is on track. I am confident this will be another year of significant progress for Redrow."Speaking on his decision to step back from the business, Mr Morgan continued; "Eight years after returning to Redrow, I have decided to ease back from a full time Executive role towards a Non-Executive role; the transition is to take place during the current financial year."It is my intention to continue to focus with the Board on the strategic development of the business and I will retain my keen involvement with the product and key important projects.(LM/MH)

NIO patents wireless charging system for EVs

Shanghai-based NIO has secured the patent for an EV wireless charging method and system, the fifth awarded to the firm in July. NIO is set to launch its EC6 SUV smart EV at this year's Chengdu Motor Show, and saw 14,169 EV sales in H1 2020.

https://pandaily.com/tencent-backed-leading-chinese-ev-maker-nio-patents-technology-for-wireless-charging-system-method/

Leading Chinese electric vehicle maker NIO patented a technology on July 17 for a wireless charging system for an electric vehicle, as well as the same charging method (CN111422080A), according to the Chinese enterprise information query website TianYanCha. It is the fifth patent NIO received this month. The former four include method, system, and apparatus for monitoring short circuit of single battery in power battery (CN111413629A) patented on July 14, automatic coding method and system for CAN bus fault processing (CN107179971B) patented on July 3, and others, according to another enterprise information query website Qcc. Qcc extracted the 2020 semi-annual patent numbers of 25 domestic new energy vehicle-related companies. According to the data, NIO ranked second in 816 patent numbers, with 281 utility models, which according to the law, provide shorter-term protection compared with other patents and are cheaper to obtain, and 535 other patents. Pandaily reported earlier that according to the Chinese National Passenger Car Information Exchange Association (CPCA), the top ten leading domestic electric vehicle firms sold 45,795 EV Coupes, MPVs and SUVs in total in the first half of this year, accounting for 14.1% of the domestic electric vehicle total sales. NIO topped the list with its sales volume reaching 14,169, accounting for 31% of the top ten EV firms’ total sales, 4,669 more than that of second-place Li Auto . SEE ALSO: Chinese Electric Vehicle Hozon Auto to Go Public on STAR Market in 2021 Founded in 2014, Shanghai-based NIO develops high-performance smart electric vehicles and successfully kicked off trading on the New York Stock Exchange (NYSE) with the stock code “NIO ” on September 12, 2018. The backers include Morgan Stanley, Goldman Sachs, and JPMorgan Chase, Reuters reported in 2018. On June 19, the U.S. Securities and Exchange Commission disclosed that China’s Tech giant Tencent , through its subsidiary Huang River Investment Ltd., bought 1.68 million American Depositary Shares (ADS) of NIO , with a total investment of $10 million. NIO will launch its smart electric coupe, the NIO EC6 SUV, at the 2020 Chengdu Motor Show tomorrow and announce the price, according to the company’s Weibo account.

Pinterest launches partnership with Shopify

Shopify is launching a new app for Pinterest. It gives merchants a quick way to upload catalogs to Pinterest and turn their products into shoppable Product Pins. The app includes a suite of shopping features like tag installation, catalog ingestion, automatic daily updating of products, and an ads buying interface.

https://newsroom.pinterest.com/en/post/pinterest-launches-shopify-app-for-easy-merchant-access-to-catalogs

As more people than ever come to Pinterest to find inspiration for supporting small businesses, furnishing their work from home setups, gifts to cheer up friends, and activities to do with their kids, there’s an increasing opportunity for retailers to get their products in front of Pinners. Today we’re launching a new app with Shopify that gives their more than one million merchants a quick way to upload catalogs to Pinterest and turn their products into shoppable Product Pins, in just a few clicks. The Pinterest app on Shopify includes a suite of shopping features like tag installation, catalog ingestion, automatic daily updating of products, and an ads buying interface. For Shopify merchants, this means easy set up and access to distribution across Pinterest with or without ads, as well as reporting and results tracking to maximize reach. The app automatically creates a connection between the individual store and Pinterest, so the merchant doesn’t need to edit code or add development resources, making it seamless for businesses of all sizes. Once installed, the app will allow a merchant to deploy a tag on their website, upload their product catalog and quickly publish in-stock Product Pins. Businesses will also see a shop tab appear on their profile as an additional way for their products to be discovered. By uploading their catalog feed, merchants make it possible for people to discover and save their products and buy directly from their website. People come to Pinterest with an intent to plan and purchase. The number of Pinners who have engaged with shoppable Product Pins has increased 44% year-over-year, and total traffic to retailers has increased by 2.3x year-over-year. And, due in part to early beta testing with Shopify, catalog feed uploads increased 144% in the first quarter of the year. Shopify merchants in the U.S. and Canada can install the tag starting today, and the integration will go live to merchants in countries where Pinterest ads are available including Australia, France, Germany, Italy, Spain, and the UK in the coming months. Quote from Jeremy King, SVP of Technology, Pinterest: As we make Pinterest more shoppable, Shopify is the perfect partner for bringing access to catalogs, Product Pins and shopping ads to merchants so they can get in front of the millions of Pinners looking for unique products that match their taste. With the new Pinterest app on Shopify, in just a few clicks, retailers can take the products on their virtual store shelves to the recommendations Pinners see as they shop. Merchants are adapting to new realities and looking ahead to the future of retail, which is why we're focused on making both our ads and organic features available and impactful to businesses of all sizes. Quote from Satish Kanwar, VP of Product, Shopify: Partnering with Pinterest to create the Pinterest channel is adding another powerful marketing tool for merchants to share their products with a new audience. The channel allows merchants to easily turn their Shopify products into shoppable Pins for Pinterest’s over 350 million users to discover, allowing Pinterest users to purchase the item directly from the merchant’s store. The channel also makes it even easier for merchants to advertise to and acquire new customers, which is a huge win for businesses.

Shell pathways to net-zero emissions

Energy production in the long-term future will include fossil fuels, but "net-zero carbon dioxide emissions", according to Shell's new publication A Better Life with a Healthy Planet. Pathways to Net-Zero Emissions, based on their 2013 New Lens Scenarios. Created just days after the Paris Agreement, which included a demand for net-zero CO2 emissions, it suggests carbon capture will play a crucial role in achieving that end in the latter half of the century, allowing hydrocarbons to fuel heavy industry and transport, while "electrification of the energy system" would need to rise to more than 50%.

http://www.theenergycollective.com/davidhone/2381720/pathways-to-net-zero-emissions

Three years ago when Shell released their New Lens Scenarios, the two views of the future looked out far beyond previous scenarios, taking in the period from 2050-2100. This offered the opportunity for both scenarios to explore ways in which the world might reach a point of net-zero carbon dioxide emissions, down from some 40 billion tonnes per annum at the moment. Such an outcome is critically important for the global environment as it means stabilization and then probably some decline in atmospheric carbon dioxide levels, an essential requirement for limiting the current rise in surface temperature. Net-zero emissions is also a requirement of the Paris Agreement. Article 4 is very clear in that regard, with its call; “so as to achieve a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the second half of this century. . . “ Energy scenarios typically explore the nearer term and many limit their horizon at 2050, but that isn’t sufficient for seeing truly profound changes in the energy system. These will play out on longer timescales, given the size of the system, the capital and capacity required to turn the system over. Solar energy is a good example. Today, we are in the middle of an apparent boom, but that is founded on years of development and improvement in the underlying technologies, a process that is still underway. Even at current deployment rates, solar still makes up only a small fraction of the global power generation system and electricity only represents 20% of the final energy we actually use. But over many decades, an energy technology such as solar PV may come to dominate the system. Looking at the emissions issue from the fossil fuel side, even if solar was to dominate, would fossil fuels and the associated emissions of carbon dioxide necessarily decline? Simply building more renewables doesn’t guarantee such an outcome and even a significant reduction in fossil fuel use could still mean a continuing rise in atmospheric carbon dioxide, albeit at a reduced rate. Scenarios help explore such questions and by extending the New Lens Scenarios to 2100, real solutions to reaching net zero emissions present themselves. The original “New Lens Scenarios” publication from 2013 focussed more on the period through to 2060, but a new publication released by Shell looks specifically at the challenge posed by net zero emissions and explores plausible pathways towards such an outcome using the “New Lens Scenarios” as a backdrop. I have been involved in the development and writing of this publication, which started in earnest only days after the Paris Agreement was adopted. But the material within it comes from the strong base built up over many years through the various Shell scenarios. The analysis presented sees the energy system doubling in size as global population heads towards 10 billion people. Today we collectively consume about 500 Exajoules of energy; this could rise to some 1000 Exajoules by the end of the century. The makeup of that energy system will most likely look very different from today, but it is probably not a world without fossil energy; rather it is a world with net-zero carbon dioxide emissions. Carbon capture and storage therefore plays a significant role. Even in 2100, hydrocarbon fuels could still make sense for sectors such as aviation, shipping, chemicals and some heavy industry. Electrification of the energy system would need to shifted from ~20% today to over 50% during the century. The new supplement is called “A Better Life with a Healthy Planet. Pathways to Net-Zero Emissions”. The title highlights the intersection between the need for energy to meet the UN Sustainable Development Goals and the requirement of the Paris Agreement to reach net-zero emissions. A better life relies on universal access to energy. The publication comes with a wealth of online material to support it. Original Post

** Plant-based Food Market to Reach USD74bn

The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach USD74.2bn by 2027. Europe is estimated to command the largest of the overall plant- based food market in 2020. The effects of COVID-19 pandemic are giving the plant-Based products industry a boost.

https://www.frozenfoodeurope.com/plant-based-food-market-toto-reach-usd74bn/

The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach USD74.2bn by 2027, according to a new market research report titled “Plant Based Food Market by Product Type (Dairy Alternatives, Meat Substitute, Plant-Based Eggs, Confectionery), Source (Soy Protein, Wheat Protein), and Distribution Channel (Business to Business and Business to Customers) – Global Forecast to 2027” by Meticulous Research. The plant-based products sector is growing rapidly, due in part to customers’ attention to increased greenhouse gas emissions and rising pressure on land and water usage during the production of animal protein. This has opened a great opportunity for plant-based products, such as meat substitute, dairy alternative, and plant-based eggs, which have the capability to satisfy food need with the high nutrition and environmental sustainability. On the other hand, the effects of COVID-19 pandemic are giving the plant-based products industry a boost, as medical studies show that the coronavirus disease has an overwhelming impact on people with underlying health conditions like diabetes, hypertension, and heart disease. COVID-19’s association with animal sources will result in a large population shifting from animal-based proteins to plant proteins due to various health and environmental concerns. Moreover, plant-based products are generated with less dependence on labor, making it less prone to staffing scarcity as opposed to red meat, which is relatively labor-intensive, thereby encouraging the production of plant-based products, the report shows. The study also mentions that the pandemic has led to some best practice models for the alternative protein industry, as an otherwise restrictive industry has seen some regulations eased temporarily. The government of some countries announced a relaxation in regulatory requirements placed on alternative proteins, mainly for plant-based protein products and insect proteins. According to the Good Food Institute (GFI), 2019 was a record-breaking year for plant-based meat, egg, and dairy companies in the US, who received more than USD747m in investments. Global cultivated meat companies raised more than USD77m in capital in 2019, for a total of USD824m in alternative proteins. However, investment in the US plant-based meat, egg, and dairy companies in just the first quarter of 2020 was a staggering USD741m, almost as much as for the entirety of 2019. Based on product type, the dairy alternatives segment is estimated to dominate the overall plant-based food market during the analysis period. Geographically, Europe is estimated to command the largest of the overall plant-based food market in 2020, which is primarily attributed to the well-established food sector in the region with huge demand for processed foods, higher vegan & vegetarian trend, higher awareness on protein rich diet consumption, and high investments into the innovation of plant-based products sector.

Following Acquisition, Ooyala Integrates Videoplaza's Tech

Online video ad tech firm, Ooyala, has integrated several separate components of its technology into a single platform. The upgrades come several months after Ooyala acquired Videoplaza, a programmatic video ad platform.

http://www.mediapost.com/publications/article/252039/following-acquisition-ooyala-integrates-videoplaz.html

by Tyler Loechner @mp_tyler, June 16, 2015 Online video ad tech firm Ooyala, a Telstra subsidiary, on Tuesday announced it has integrated several separate components of its technology into a single platform. The upgrades come several months after Ooyala acquired Videoplaza, a programmatic video ad platform. The integration marries Ooyala’s existing technology, which focused on analytics, with the ad technology it acquired via Videoplaza. The result is a new plugin available to all Ooyala customers that includes a slew of new features, including anti-ad blocking tech, audience targeting, real-time dynamic ad insertion and more. Ooyala clients can now use their existing CMS data for targeting purposes, the company says in a release. The real-time dynamic ad insertion tech allows marketers to insert ads during a “live stream when cue-points accompany the video” which leverage “known parameters, such as location and device type.” advertisement advertisement Following the Ooyala-Videoplaza deal, MediaPost’s VidBlog wrote: “The combination lets the new company provide a more unified digital video delivery and advertising platform. Ooyala said it will be able to offer a more complete start-to-finish digital video delivery and advertising platform, giving clients information about what people are watching and what advertising will reach them best.” The article has been updated to reflect that Ooyala's existing technology did not focus on ad serving. Instead, it focused on online video analytics.

NEC and Persol use blockchain to authenticate recruiting process

Japanese human resource (HR) company Persol Career is working with technology firm NEC to launch a direct recruitment app using blockchain. The product utilises distributed ledger technology to provide self-sovereign identity to users for security, control and portability. The technique means that potential employers can view candidates' test results, academic qualifications and work experience on the app, without giving them access to personal data until after the scouting process is complete and a candidate has given their consent. The service was designed to match Indian IT engineers with Japanese firms, which have a shortage of IT HR personnel.

https://www.ledgerinsights.com/nec-partners-with-persol-for-blockchain-recruitment-credentials/

Today NEC and Persol Career, one of Japan’s largest human resource (HR) companies, announced their blockchain-based direct recruitment service app. The Proof of Concept will target Indian IT engineers for Japanese companies such as GMO Internet and Wired Beans. Depending on the initial stage results, the service may be extended to attract other overseas candidates. Part of the app’s purpose is to tackle the shortage of IT HR in Japan. According to Japan’s Ministry of Economy, Trade, and Industry, the skills gap could amount to 800,000 people by 2020. NEC is the technology provider and the primary blockchain use is for blockchain-based self sovereign identity. The service involves the IT engineer taking a skill test and the test provider will automatically send the results to the app. The app will contain this test certificate alongside other relevant data, including the engineer’s personal information, work experience, and academic qualification. The resume information, stripped of personal data, is sent via the app to an information-sharing platform, where the recruitment company can browse the data and scout their targeted candidate. At this stage, the recruiter does not have access to data or credentials that could identify the individual. They’ll only receive this after the scouting process, with the consent of the job seeker. The technology behind the service is based on the self-sovereign identity (SSI) concept. SSI has three key features: security of the identity information, user control over who has access and can view their data, and portability of the user data. The last category is important in that the user’s data must be capable of being used whenever the user wishes, and it should not be ‘tied to a single provider.’ The data can be sent from the user, who maintains total control over the data, directly to the desired person in a secure and private manner. Users can also choose only to share a part of their data, as NEC and Persol’s app specified – they do not have to share personal information in the initial stage if they do not wish to. Given that the user sends the data, it’s up to the receiver to determine its credibility. However, in the case of NEC and Persol’s app, trust in the credentials is supported by the skill test provider. Blockchain is not necessarily used in conjunction with SSI. Depending on the implementation, it’s often used sparingly as the users’ credentials are not saved on the blockchain. SSI mainly uses blockchain to verify that the issuer provided the credentials by cross-checking the signature on the credential with the public key on the blockchain. In this case the testing provider’s signature would be checked. NEC has experimented with blockchain identity platforms before, developing its Digital Identity for Inclusion Project with NGO Bitcoin Argentina and IDB Lab in Argentina last year. The Project aimed to improve government access to residents of Barrio 31, one of Argentina’s largest slums. Its role in the recruitment service app is to develop the app and platform and to provide and operate the direct recruiting service. Persol, the HR company whose motto is ‘Work, and Smile,’ has an existing interest in technology innovation. In August 2019, Persol invested in talent and assessment, a consulting business that uses employment interview services based on artificial intelligence. In its last financial year, Persol Holdings had revenues of 970.6 billion yen ($9.1 billion). Despite COVID-19, in the quarter ending June, its revenues were marginally up. Persol’s role in the partnership with NEC is to provide the necessary knowledge to direct the service and select the recruitment companies. Meanwhile, credentials are a popular blockchain application with numerous initiatives. One of the highest profile projects in the recruitment sector is from the World Employment Confederation with a blockchain initiative involving The Adecco Group, GiGroup, Kelly Services, ManpowerGroup, Randstad, and RGF Staffing. Another is the Velocity Network, which includes Cornerstone, Upwork, SAP and others.

In store grocery shopping stays low while online shopping soars, Nielsen says

Online grocery shopping saw a 117% growth in sales YoY in the four weeks to August 8 holding its 14% share of all grocery sales according to Nielsen research. However, in person grocery sales have risen 7% YoY in the same period of time although this is down from lasts months 10% YoY increase; Nielsen also note that in store visits were down 15% but this is an improvement on May’s 22% decrease in visits.

https://www.thisismoney.co.uk/wires/reuters/article-8638299/Britains-grocery-sales-growth-slows-Nielsen-says.html

By James Davey LONDON, Aug 18 (Reuters) - Grocery sales in Britain rose 7% year-on-year in the four weeks to Aug. 8, slowing from previous weeks as shoppers began to settle into new post-COVID 19 lockdown routines, industry data showed on Tuesday. Market researcher Nielsen said the growth, though down from 10% in last month's report, was driven by warm weather and Britons continuing to work from home, spending less on eating out, and taking "staycation" holidays. It said that over the four week period, in-store sales growth was just 0.3%, but online grocery growth continued to accelerate, up 117%, maintaining its 14% share of all grocery sales. Consumers were still shopping less often than they did prior to the pandemic, Nielsen said, noting visits to stores were down 15% on the same period last year, but this was up from the 22% drop registered in May. Over the 12 week period to Aug. 8, Morrisons, Britain's No. 4 supermarket group, was the top performer of the country's big four grocers with a 13.6% rise in sales. Market leader Tesco saw growth of 10.1%, followed by No. 2 Sainsbury's on 7.9%. Walmart-owned Asda was again the laggard with growth of 6.8%. However, frozen food specialist Iceland, up 24.4%, had the strongest sales growth overall. German owned discounters Aldi and Lidl saw growth of 10.8% and 9.1% respectively, though Lidl's market share edged lower. (Reporting by James Davey Editing by David Holmes)

SpaceX just finished its third Starship rocket in two months and a fourth is on the way

SpaceX began building the latest Starship prototype – known as serial number 4 (SN4) around March 23rd. SN4 has the best chance yet of successfully passing its proof tests and graduating into Raptor static fire and (perhaps) flight testing.

https://www.teslarati.com/spacex-third-starship-rocket-finished-two-months/

By SpaceX just rolled a completed Starship prototype to the launch pad for the third time in two months and began stacking the next rocket just hours after its assembly facilities were vacated. SpaceX began building the latest Starship prototype – known as serial number 4 (SN4) – around March 23rd. Exactly 31 days later, SpaceX lifted the vast steel rocket onto a Roll Lift transporter and carried it roughly a mile down the road to the company’s Boca Chica, Texas test and launch facilities. In just a few hours, technicians lifted the rocket off its transporter and onto a fixed launch mount made out of thick steel beams, expediency made possible partly by the addition of new mounting points and hold-down clamps. Sitting atop the late Starship SN3 prototype’s salvaged skirt, landing leg, and service section, the fate of Starship SN4 remains to be seen and the path it has taken to the pad is paved with the remains of several former prototypes. For the most part, that should be a positive aspect. Given how apparent it is that SpaceX is very quickly learning from past mistakes, SN4 has the best chance yet of successfully passing its proof tests and graduating into Raptor static fire and (perhaps) flight testing. However, if things don’t go as planned, SpaceX is perhaps just a week or two away from completing the next prototype – Starship SN5. SN4 is now on the launch mount at SpaceX Boca Chica launch site. There will be more pics and video later. 🤩🚀@NASASpaceflight https://t.co/nCG7E9XtKM pic.twitter.com/IMRRB1GZJw — Mary (@BocaChicaGal) April 23, 2020 Starship SN4 rolled to the launch pad on Thursday, April 23rd, exactly one month after work on the rocket began. (Elon Musk) A few hours after SpaceX lifted Starship SN4 onto its steel launch mount, CEO Elon Musk revealed an aerial photo of the rocket and its pad facilities taken with a drone. Recently painted gray and refurbished to undo damage done by Starship SN3’s April 3rd, that mount is currently configured with a strong metal frame and three powerful hydraulic rams. A nearly identical jig was damaged during SN3’s last test when a minor tsunamic of liquid nitrogen – used to safely simulate ultra-cold and explosive liquid oxygen and methane propellant – washed over the mount after the rocket burst. Much like an ice cube can violently crack and pop when it rapidly changes temperature, untreated steel (almost always cheaper than the alternative) can also be catastrophically damaged by rapid temperature changes (thermal shock). This appears to be exactly what happened to the first hydraulic ram mount, which had visible cracks in photos taken after Starship SN3’s April 3rd demise. Starship SN4 was installed on top of a launch mount and hydraulic ram stand on April 23rd. (NASASpaceflight – bocachicagal) SpaceX appears to have had no issue at all acquiring a replacement in a matter of weeks and it arrived and was installed several days ago. The purpose of the hardware is relatively simple: simulate the stresses one or three Raptor engines will create when ignited and ensure Starship’s ‘thrust puck’ and engine section can survive those stresses while filled with cryogenic liquid methane. Each ram attaches to the thrust puck with the same hardware an actual Raptor uses, including the rods each engine needs for thrust vector control (TVC; i.e. active steering). In the event that Starship SN4 passes its cryogenic proof test(s) and engine stress simulation(s) with flying colors, SpaceX has already built, acceptance-tested, and shipped three Raptor engines to Boca Chica, where they are waiting inside an assembly tent for their call to action. Once a Starship prototype passes acceptance testing and three Raptor engines can be installed, it will be a first for SpaceX’s next-generation rocket engine. For example, if SN4 makes it through testing and is ready to proceed into static fire operations, it will be the first time Raptor has operated in a multi-engine setup – always a significant milestone for any launch vehicle, including SpaceX’s own Falcon 9 and Merlin engines. In case SN4 does make it to the other side, SpaceX is already prepared with both road closures and NOTAMs (Notices To Airmen) for static fire and hop tests spread out over the next week or so. Check out Teslarati’s newsletters for prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket launch and recovery processes. SpaceX just finished its third Starship rocket in two months and a fourth is on the way

Mitsui Sumitomo using AI to evaluate potential clients' creditworthiness

Japan's Mitsui Sumitomo Insurance is planning to use artificial intelligence (AI) to assess companies' creditworthiness. The technology was developed by Tokyo-based Kokopelli and will be used to analyse firms' financial statements when underwriting performance bond cover that construction companies take out for public works contracts. Mitsui said it was the first time AI has been used for such evaluations, adding it expects to start using the technology next spring.

http://mainichi.jp/english/articles/20180509/p2a/00m/0na/024000c

TOKYO -- Mitsui Sumitomo Insurance Co. will start analyzing companies' financial statements with artificial intelligence (AI) in tests aiming to reduce the time it takes its employees to assess firms' creditworthiness. Mitsui says the tests will mark the first time in the insurance industry for AI to be put to use in such evaluations. Mitsui hopes the analysis will be useful when underwriting performance bond insurance that construction companies and other firms take out for public works contracts. It is common for public offices to ask contractors to take out such insurance, which covers the compensation outsourcers can claim when contractors run into financial difficulties and are unable to carry out the work. The insurance company usually receives about 60,000 applications for such insurance each year. Mitsui says that in about 10 percent of these applications, it takes significant time to assess firms' creditworthiness, as the cases often involve high operation costs and companies with multiple contracts. In the trials, Mitsui Sumitomo Insurance will use software developed by Tokyo-based Kokopelli Inc. Mitsui expects the software will shorten the time it takes to assess applications, which in the past has taken as long as one week. It aims to put the system into practical use next spring after enhancing its assessment accuracy through the tests. "We will also put the system's strengths to use when we need urgent construction, such as when disasters occur," a system operator said. (Japanese original by Satoko Takeshita, Business News Department)

Education most-at-risk industry for ransomware attacks: BitSight

Education is the top industry to be targeted by ransomware attacks, with one in 10 organisations in the sector falling victim to such an attack, according to a study by cyber-security company BitSight. The study analysed data on 20,000 organisations across multiple sectors, and also noted that the rate of ransomware attacks had doubled or tripled in some industries over the past 12 months. Education was seen as a vulnerable sector with lower protections due to universities' open culture and complex user environment.

http://www.educationdive.com/news/education-faces-highest-ransomware-attack-rate-of-any-industry/426831/

Dive Brief: An analysis of 20,000 organizations by security ratings firm BitSight found education institutions suffered malware attacks in greater proportions than their peers in government, healthcare, energy, retail or finance. Information Week Dark Reading reports that 10% of education institutions had been attacked with malware, while 6% of government entities, 3.5% of healthcare organizations, 3.4% of energy companies or utilities, 3.2% of retailers and 1.5% of financial organizations had the same. BitSights analysis tracked malware traffic, meaning it could tell whether an organization had been infected but could not tell whether the organization ended up paying a ransom to recover its data or not. Dive Insight: Hackers plant ransomware through malware that encrypts network data. Then they demand a ransom from institutional leaders in exchange for an encryption code that will free all of that data. The situation can be debilitating for organizations that need steady access to all of their files. While IT professionals can manually restore prior versions of corrupted files or work to break an encryption, both options take a very long time, and some organizations pay the ransom to save themselves the work. Horry County Schools in Conway, SC, paid about $8,000 to unlock its data earlier this year after deciding that money was worth the faster access to their computer systems. Colleges and universities have also been frequent victims of ransomware and other cyberattacks because of the quantity of data they have in relatively unsecured networks.

Education most-at-risk industry for ransomware attacks: BitSight

Education is the top industry to be targeted by ransomware attacks, with one in 10 organisations in the sector falling victim to such an attack, according to a study by cyber-security company BitSight. The study analysed data on 20,000 organisations across multiple sectors, and also noted that the rate of ransomware attacks had doubled or tripled in some industries over the past 12 months. Education was seen as a vulnerable sector with lower protections due to universities' open culture and complex user environment.

http://www.darkreading.com/attacks-breaches/education-now-suffers-the-most-ransomware-attacks-/d/d-id/1326960

When you think ransomware victim, most likely your first thought is a hospital. But a new survey of ransomware's spread among different industry sectors shows that education is actually the biggest target right now. BitSight, which rates the security posture of organizations based on external data showing malicious activity surrounding them, in a new report today found that education is hit most by ransomware attacks, followed by government, healthcare, energy/utilities, retail, and finance. The firm's analysts studied ransomware activity at some 20,000 organizations and found that one in 10 education organizations had been hit with malware on their networks, followed by 6% of government entities; 3.5% of healthcare organizations; 3.4% of energy/utilities; 3.2% of retailers; and 1.5% of financial organizations. According to BitSight, the rate of ransomware attacks has doubled or tripled among various industries in the past 12 months. BitSight's ransomware data is based on traffic by the malware; for instance, as it communicates to its command-and-control servers. It shows infected victim machines in those organizations, but doesn't necessarily mean the victims were unable to retrieve their data from backups, for example. A recent Osterman Research survey found that both phishing and ransomware attacks had jumped several hundred percent per quarter in the past 12 months. That survey, commissioned by DomainTools, also named ransomware in the top three concerns for IT and security pros. Law enforcement has been relatively vocal about noticeable spikes in ransomware of late: the FBI issued a public service announcement late last week urging ransomware victims to report attacks to the agency. This, after an FBI official told attendees of a Federal Trade Commission (FTC) event to immediately contact the FBI or IC3.gov if they suffer a ransomware infection, and not to pay any ransom fees. "People have to remember that ransomware does not affect just one person or one business," Will Bales, supervisory agent for the FBI's Cyber Division, said. "It will more than likely move on and affect somebody else. And for those who pay the ransom, it only encourages them to extort the next person." One ransomware variant infected 100,000 computers in just one day, the FBI noted in its announcement. "Cyber security companies reported that in the first several months of 2016, global ransomware infections were at an all-time high," the alert said. The FBI also noted that it needs to get a better handle on the actual number of victims, hence the call for reporting to them. Stephen Boyer, co-founder and CTO of BitSight, says he and his team were surprised that education tops healthcare in ransomware attacks. "Protections in higher ed are lower" he says, given universities' open culture and complex user environment, for example. To date, healthcare organizations—namely hospitals—have been the most high-profile ransomware victims, from Hollywood Presbyterian Medical Center in Los Angeles, Calif., to Washington, DC-area MedStar. Hollywood Presbyterian ultimately ponied up with $17,000 to the attackers to release its systems. MedStar had to temporarily shut down its computers, email system, and large record database to inhibit its spread to other locations in the region, and reportedly did not pay the attackers any ransom. More unnerving is that BitSight's new data represents just a snapshot of the attacks, Boyer says. "We know we're not seeing all of the ransomware" here, Boyer says. "But we're seeing hundreds of companies in just about every sector." BitSight also found that two particular ransomware variants were the most prevalent: Nymaim and Locky. More than 11% of education organizations were hit by Nymaim, and 4%, with Locky, which came on the ransomware scene about eight months ago. Nymaim hit about 4% of the government entities, and 3%, Locky. "Another important fact to note is that Nymaim, although typically associated with ransomware, is actually a Trojan that can be used to install a variety of malware," the report said. The big takeaway from the BitSight data on ransomware: "No sector is immune," Boyer says. Related Content:

Popular going-rogue robot images needs shifting for AI to evolve

The Hollywood-inspired idea of artificial intelligence (AI) systems going rogue needs to change for AI to evolve, according to the head of machine learning at Carnegie Mellon University (CMU). Manuela Veleso said AI systems "will need humans just as much as humans need AI" in order to form a "relationship of symbiotic autonomy" between humans and AI systems. This change in approach is already under way, with CMU experts creating arm-less roving CoBots, which have to ask their human companion to press lift buttons, just like people ask others for help.

http://www.brinknews.com/?p=4488?utm_source=BRINK+Subscribers&utm_campaign=c3ca065c78-BRINK_Daily_Insights_30_01_17&utm_medium=email&utm_term=0_c3639d7c98-c3ca065c78-110036825

Photo: Carnegie Mellon University Humanity needs artificial intelligence systems that act more like companions than superheroes. In the future, AI systems will need humans just as much as humans need AI. Despite the dystopian, Hollywood-infused notion of AI systems going rogue, science is on a path toward creating an environment in which humans and intelligent systems are virtually inseparable, bound in a continual give-and-take exchange of information that forms a relationship of symbiotic autonomy. In such a world, the AI systems are able to identify what they don’t know, what they can’t do, what they don’t understand, and ask humans for help. It’s a new way of thinking about human-AI interaction. And it’s already happening. At Carnegie Mellon University we have developed roving “CoBots” that autonomously escort visitors around the campus and ask humans for help when needed. For example, the CoBots aren’t equipped with arms so when the guest they are escorting needs to ride an elevator to their destination, the CoBot will ask its human companion to please press the elevator buttons—the same way humans from time to time ask for help. CoBots assigned to delivery tasks will ask any human available for help, when needed. This is the perfect, “imperfect” AI, acting similar to humans, who from time to time ask for help because we don’t know everything and we can’t do it all. I believe that there has to be a symbiotic autonomy in the sense that part of an AI’s algorithm has to be about it deciding what is outside of the boundary of its capability and, once it determines that, invoking an alert: “I don’t know how to do this. I don’t understand what you said. I can’t find what you told me to find. I don’t see that object.” You asked me, ‘Are my keys in my office?’ I can’t see any keys here. Maybe they are, but I can’t see anything with my sensors that has a high probability of being a set of keys.” This symbiotic autonomy begins to lay the foundation for a future in which there is a coexistence between humans and AI systems that will be of service to humanity. These AI systems will involve software systems that handle the digital world, and yet also move around in the physical space, like robots and autonomous cars, helping humans make individual decisions. As time goes by, these AI systems may take on broader problems in society, such as managing traffic, making complex predictions about climate and risk mitigation strategies, all in the service of humans grappling with the big decisions of the day. Why a Panda and Not a Porsche? In order to turn over decisions—large or small—to AI systems, humans have to learn that the recommendations they make are trustworthy, that they are being made in a human’s best interest and are compliant with the instructions given it. For that to happen, machines have to be able to explain the decisions they make, or be able to review how they arrived at a particular recommendation or decision, so that humans can either correct them or confirm. We’re in the infancy of AI in terms of algorithms and techniques—we’re still in the dark about a lot of things. For example, suppose you give an AI system the overnight task of evaluating a series of car choices you’re thinking about and then ask it to give you the best option suited to your needs. When you wake up in the morning you see the AI system has recommended you buy a panda. What went so wrong that the AI is recommending you buy a lovable animal instead of a 3,200-pound vehicle? At that point we need to be able to ask: “Why did you recommend a panda and not a Porsche?” The ability for AI to be queried is vital for building trust in AI. These systems will probably never be able to do it all, and they should tell you when they can’t do something or can’t figure something out. The option to query is vital for determining the best outcomes as well. Imagine a medical researcher working on a difficult case diagnosis alongside an AI system. The researcher sets the AI system loose on a particular task to scour all the world’s information in hopes of finding “the answer,” only to be disenchanted when the AI system seems stymied. What if we could ask the AI system, “what are you missing?” and the system replies, “if you can just tell me more about the interaction of the treatment with this chemical and this case, I may be able to further investigate a diagnosis and treatment.” If science can’t provide such an answer immediately, imagine how whole new fields of research might open up because such interaction with AI systems is possible. No Magic AI Beans None of this happens overnight. AI has been on a steady, evolving, incremental path, but we still have a long way to go. This is not something that will happen in one shot, where magically we wake up one day and “AI is here.” Yet, in many ways, AI is here, incrementally, every day. Every day, there are more algorithms and more apps and more programs that are capable of processing information intelligently. There is a lot of research being done on trying to understand the concept of transfer learning. How do we have algorithms that, because they can address a particular task, they can also learn to do something else? We are not done with understanding AI. We don’t know how to do many things. We are in the infancy of AI in terms of algorithms and techniques, methods of making generalizations, methods of providing explanations—we’re still waving our hands about a lot of these things. It All Comes Down to Humans Symbiotic autonomy is an optimistic vision. Humans created computers, programming languages and the people that program these AI systems. Therefore, it’s critically important to invest in education to ensure people create good machines, beneficial machines, tools that serve and are intelligent for the good of humanity.

US-based fintech partners member of World Bank to invest in fintechs

Victory Park Capital (VPC) is partnering with the International Finance Corporation (IFC) to launch a fund investing in fintech companies in the developing world, opening up VPC to developing markets for the first time. One in three digital consumers use two or more fintech products, according to EY. The consultancy said emerging market were more open to fintech disruption because their "growing economies and a rapidly expanding middle class" are not served by existing financial service providers. Meanwhile, falling smartphone prices gives the population access to digital services.

http://uk.businessinsider.com/victory-park-capital-is-partnering-with-the-international-finance-corporation-on-a-new-fund-2018-3?utm_source=feedburner&utm_medium=referral&r=US&IR=T

Victory Park Capital is partnering with the International Finance Corporation on a new fund that'll invest in fintech startups in the developing world. Fintech adoption is being driven by countries in emerging markets, a recent EY study suggests. Fintech adoption is ramping up in the developing world, and one Chicago-based investor is looking to capitalize on the red-hot market with a new fund. Victory Park Capital (VPC), the Chicago-based alternative investment firm, announced it is partnering with the International Finance Corporation (IFC), a private-sector investment-focused sister organization to the World Bank, to launch a new fund that'll invest in financial-technology companies in the developing world. VPC has been involved in over 45 transactions in the financial-services sector, adding up to approximately $5.5 billion. But the new partnership with the IFC, which provided $19.3 billion in financing to companies in developing markets in 2017, opens the firm up to developing markets for the first time. "The reliance on mobile devices for day-to-day life is more prevalent in emerging markets and that creates a big opportunity," Brendan Carroll, a senior partner and cofounder of VPC, told Business Insider. VPC and IFC have worked together on deals before, Carroll said. "I do think working together will be beneficial and a continuation of our global-investment focus over the last ten years," Carroll said. Carroll declined to comment on the size of the fund. He said the fund will invest in 3 to 4 transactions per year. A recent study by consultancy EY found that one in three digital consumers used two or more fintech products. This level, according to EY, indicates fintech has crossed the threshold of early mass adoption. The firm said adoption was being driven by emerging markets, such as China. "FinTech adoption by digitally active consumers in Brazil, China, India, Mexico and South Africa average 46%, considerably higher than the global average," the report said. "From an individual market perspective, China and India have the highest adoption rates at 69% and 52% respectively." The firm said emerging markets were more open to fintech disruption because of the large populations of people who are underserved by existing financial infrastructures. Here's EY: "Our five emerging markets are characterized by having growing economies and a rapidly expanding middle class, but without traditional financial infrastructure to support demand. Relatively high proportions of the populations are underserved by existing financial services providers, while falling prices for smartphones and broadband services have increased the digitally active population that FinTechs target."

Iran crisis: UK Navy to escort British tankers

The Royal Navy has said it will accompany British-flagged oil tankers through the Strait of Hormuz, according to the UK Ministry of Defense. It follows warnings issued by the Department for Transport that ships should not sail through the area. The decision comes after Iran seized the British-flagged Stena Impero in the Strait of Hormuz last week, and amidst the US' and the UK's heightening maritime tensions with Iran.

https://edition.cnn.com/2019/07/25/middleeast/uk-tankers-hormuz-gbr-intl/index.html

London CNN — The UK Royal Navy says it will now accompany British-flagged oil tankers through the Strait of Hormuz in the wake of Iran’s seizure of a ship last week. The British Ministry of Defense (MoD) said the move was a response to “the heightened threat to commercial shipping in the Gulf,” and guidance from the Department for Transport, which advised Friday that ships should not sail through the area. “The Royal Navy has been tasked to accompany British-flagged ships through the Strait of Hormuz, either individually or in groups, should sufficient notice be given of their passage,” the MoD said. “Freedom of navigation is crucial for the global trading system and world economy, and we will do all we can to defend it,” the MoD added. The decision comes after Iran seized British-flagged Stena Impero oil tanker on Friday in the Strait of Hormuz, considered one of the world’s most vital waterways for global oil supply. Iranian President Hassan Rouhani appeared to signal Wednesday that his country might be willing to release the vessel in exchange for the UK’s release of a detained Iranian tanker. The UK and Gibraltar seized the Iran-flagged tanker Grace 1 in early July. UK authorities alleged the tanker was attempting to transport oil to Syria, a violation of EU sanctions. The Stena Impero’s seizure is yet another in an accelerating series of recent maritime episodes involving Iran. Last Thursday, the US Navy destroyed an Iranian drone using electronic jamming, a US defense official told CNN. The crew of the USS Boxer took defensive action against the Iranian unmanned aerial vehicle after it came close to the US naval ship, the official said. However, Iranian officials say none of their drones have been downed. In another incident this month, armed Iranian boats tried unsuccessfully to impede the passage of a British oil tanker in the Persian Gulf, according to two US officials with direct knowledge of the incident. And in June, tensions between the US and Iran escalated into a military standoff after an American drone was shot down by Iran over the Strait of Hormuz, one of the world’s most vital shipping routes.

New Singapore carbon tax targets refining and petchems

The Singapore government has announced it will impose a carbon tax from next year on the 30-40 large companies responsible for 80% of the country's CO2 emissions. Finance minister Heng Swee Keat said the levy will affect the petroleum refining, chemicals, and semiconductor sectors, and will start at SGD5/t ($3.89/t) until 2023, when it will be reviewed and is set to reach SGD10–15/t by 2030. While come have praised the move, a spokesperson for Shell said the industry should be "incentivised to perform better and deploy best-in-class technologies".

https://www.thechemicalengineer.com/news/singapore-to-introduce-carbon-tax-from-2019/

Singapore's petroleum refinery THE Singapore budget has revealed that companies emitting more than 25,000 t/y of greenhouse gases will face a carbon tax from next year. The decision was announced during the budget on 19 February given by finance minister Heng Swee Keat. "In doing so, we will take into account international climate change developments, the progress of our emissions mitigation efforts and our economic competitiveness," said Heng. “This is the economically efficient way to maintain a transparent, fair and consistent carbon price across the economy to incentivise emissions reduction.” The carbon tax will target the 30–40 large companies that contribute 80% of Singapore’s greenhouse gas emissions. The government said it would study how to account for the remaining 20% of emissions. The tax will start at S$5/t (US$3.89/t) between 2019–2023. After a planned review in 2023, it will likely rise to S$10–15/t by 2030. The tax will be applied uniformly across the petroleum refining, chemicals, and semiconductor sectors, but will not apply to petrol, diesel, and concentrated natural gas, as these already have an excise duty charged. The tax should collect nearly S$1bn in the first five years, which the government plans to use to support projects that reduce emissions. A spokesperson for Shell expressed concern over the carbon tax, saying: “We should be incentivised to perform better and deploy best-in-class technologies – a flat carbon tax will not provide the appropriate incentives to do so.” Euston Quah, head of the economics department at the Nanyang Technological University, said: “It sends a signal to those whose activities cause damage to society, whether in the form of human health or environment, that they must be responsible for their actions.”

IWG Co-working firms occupy 1.6% of Baltimore office space

Co-working locations now make up 1.6% of Baltimore's occupied office space, according to data from CBRE. The report revealed 367,000 sq ft was leased to co-working firms by the end of Q3 2018, with 131,000 sq ft of the space being taken by IWG subsidiary Spaces and WeWork in the past year. The study said growth in the co-working sector correlated with an increased investment in start-ups in Baltimore. About 80% of co-working sites were in the city, where vacant properties were being filled up by bigger firms keen to maximise the growing trend.

https://thedailyrecord.com/2018/10/25/report-coworking-firms-lease-1-6-of-baltimore-office-space/

Coworking spaces continue to show strong growth in the Baltimore region, according to a recent report. In the last year co-working two firms Spaces and WeWork rented 131,000 square feet of office space, according to a data review by CBRE, with these type of firms leasing 367,000 square feet of space in the Baltimore region at the end of 2018’s third quarter. Coworking spaces now take up 1.6 percent of the city’s occupied office space. “The expansion of the coworking sector correlates closely with the growth in venture capital investment. In 2018, Baltimore was ranked as the fifth top rising city for startups by Forbes, with $1 billion in three-year venture capital investment,” according to the report. These co-working spaces are primarily clustered in Baltimore. About 80 percent of their inventory is located in the city. While the drivers in the market have primarily been enterprises like Spark and Betamore, which the report classifies as small to mid-size providers, bigger firms are moving into the market. Those top deals include WeWork, which signed a deal this summer for 60,000 square feet of space at the 330,000-square-foot Wills Wharf at Harbor Point. JLL represented the tenant and landlord in that deal. Spaces, which was also represented by JLL, leased 32,000 square feet at 145 W. Ostend St. at Stadium Square last November. Some brokers and researchers have urged more landlords in downtown Baltimore to embrace coworking spaces. They argue these enterprises provide the best chance to backfill space, particularly north of Lombard Street, that has sat vacant for years. Coworking spaces in the city, such as the Cordish Cos. backed Spark have sped up their timeline for expansions because of demand for their offerings. Even tiny startups like Red Wagon Baltimore, started with a mix of its co-founder’s personal funds, sweat equity and a $500 investment from Moms as Entrepreneurs, have entered the market.

Sherlock Biosciences and binx health Announce Global Partnership to Develop First CRISPR-based Point-of-care Test for COVID-19 • Sherlock Biosciences

Sherlock Biosciences and binx health have entered into a strategic partnership to develop the world's first rapid, point-of-care diagnostic test for COVID-19. The organizations will combine the binx diagnostic platform with SHERLOCK™ CRISPR technology to create a test that is robust and simple to use.

https://sherlock.bio/sherlock-biosciences-and-binx-health-announce-global-partnership-to-develop-first-crispr-based-point-of-care-test-for-covid-19/

binx health’s Proven Molecular io Platform Combined with SHERLOCK™ CRISPR Technology Will Enable Rapid, Accurate Testing for SARS-CoV-2 in Retail and Near-patient Settings CAMBRIDGE, Mass. and BOSTON, July 1, 2020 – Sherlock Biosciences and binx health today announced the companies have entered into a strategic partnership to develop the world’s first rapid, point-of-care diagnostic test for COVID-19 leveraging CRISPR technology. The organizations will combine the binx io diagnostic platform with SHERLOCK™ CRISPR technology to create a test that is robust and simple to use. This unique solution is designed to provide rapid and accurate results in a single patient visit across many diverse CLIA-waived settings, such as clinics, doctors’ offices, assisted living centers, pharmacies and other easily accessible consumer venues, which will assist in broadening ways of managing potential resurgences of the pandemic. The combination of technologies also portends strong positioning for other viral threats as they emerge. The binx io is the fastest molecular platform in the world that has U.S. Food and Drug Administration (FDA) clearance for chlamydia and gonorrhea testing. The Company’s platform is based on a proprietary detection method that makes it suitable for broad application across infectious diseases. The platform has a demonstrated ability to rapidly detect complex infectious disease targets from bodily fluids with very high accuracy. The binx io molecular platform consists of an easy-to-use, desktop-sized instrument and single-use cartridge with multiplex capacity of up to 24 targets. Once a patient sample is added to the cartridge and loaded into the io instrument, the process is fully automated, requires no interpretation of data, and is designed to produce a clearly indicated onscreen “detected” or “not detected” result. “We are pleased to partner with Sherlock Biosciences to help bridge a gap in COVID-19 testing—the need for highly accurate point-of-care diagnostic testing in CLIA-waived and near-patient settings,” said Jeff Luber, chief executive officer of binx health. “In April of this year, binx health made history with the first 30-minute, FDA-cleared molecular diagnostic instrument for chlamydia and gonorrhea in both men and women that for the first time delivers same-visit diagnoses. Our proprietary platform will now leverage Sherlock’s CRISPR-based assay combined with binx’s electrochemical detection for rapid viral detection of SARS-CoV-2 without the need for additional instrumentation. This union of technologies is designed to enable physicians, clinicians and other healthcare workers on the front lines of the global COVID-19 pandemic to make on-the-spot care decisions and to control and prevent further infections. We also have a unique alignment of vision with Sherlock for solutions that support ‘everywhere’ testing in near-patient retail and clinical settings.” “This collaboration with binx health to advance our SHERLOCK diagnostic platform and offer an accurate, point-of-care test is the next critical step in combating the global COVID-19 crisis,” said Rahul Dhanda, co-founder, president and CEO of Sherlock Biosciences. “We are also excited to explore with binx how to utilize the io platform to bring accurate and affordable testing to hospitals, urgent care centers and other healthcare facilities for a range of diagnostic tests beyond COVID-19. We agree with the binx strategy that ‘everywhere care’ depends on highly accurate in-clinic and easy-to-use at-home solutions. Through both our SHERLOCK- and INSPECTR™-based platforms, we hope to serve as part of the solution to addressing the COVID-19 pandemic by making accurate, affordable diagnostics available everywhere they are needed: in the lab, point-of-care locales, low-resource settings and the home.” The currently available SherlockTM CRISPR SARS-CoV-2 kit uses the SHERLOCK (Specific High-sensitivity Enzymatic Reporter unLOCKing) method to program a CRISPR molecule to detect the presence of a specific SARS-CoV-2 genetic signature in specimens collected from patients suspected of COVID-19 by their healthcare provider. The kit is intended for use in CLIA laboratories to assay nasal swabs, nasopharyngeal swabs, oropharyngeal swabs or bronchoalveolar lavage (BAL) specimens. When the signature is found, the CRISPR enzyme is activated and releases a detectable signal, yielding results in about an hour. The kit is the first CRISPR-based diagnostic test to receive EUA from the FDA for qualitative detection of nucleic acid from SARS-CoV-2. Sherlock is also pressing forward in developing its INSPECTR at-home testing platform to create an instrument-free, handheld test – similar to that of an at-home pregnancy test – for the rapid detection of the SARS-CoV-2 virus. About Sherlock Biosciences Sherlock Biosciences is dedicated to making molecular diagnostics better, faster and more affordable through Engineering Biology platforms. The company is developing applications of SHERLOCK™, a CRISPR-based method to detect and quantify specific genetic sequences, and INSPECTRTM, a Synthetic Biology-based molecular diagnostics platform that is instrument free. SHERLOCK and INSPECTR can be used in virtually any setting without complex instrumentation, opening up a wide range of potential applications in areas including precision oncology, infection identification, food safety, at-home tests, and disease detection in the field. For more information visit Sherlock.bio. About binx health binx health has the world’s fastest FDA-cleared molecular platform for CT/NG testing. The technology brings rapid, accurate and convenient infectious disease testing to people where they live, work and shop. Our solutions broaden access to care for millions and put proprietary testing solutions in the hands of clinicians everywhere, including in the ever-expanding footprint of retail health. binx has developed a suite of medical guideline driven, at-home testing solutions, including COVID-19 testing, to reach the many who are unwilling or unable to visit a physical location. In addition, the FDA cleared, binx io system is a highly flexible and easy-to-use, molecular point-of-care platform leveraging patented, multiplex technology to enable central lab equivalent clinical performance in decentralized, near patient locations such as retail pharmacy, urgent care, and the large and evolving category of consumer “super stores,” that are increasingly serving customer health needs. Our large partners seek to serve the testing needs of both in-store and at-home populations. We believe the future of healthcare lies at the nexus of testing convenience, rigorous science, and consumer relationships with a rapidly expanding retail health landscape. Sherlock Media Contact: Katie Engleman 1AB [email protected] binx Media Contact: Cassie Arnold KMA & Company 408-621-0700 [email protected]

Household Waste Conscious 18-24 Year Olds Prefer Frozen over Fresh

In a joint study commissioned by Birds Eye and Iceland has provided data that frozen foods newfound popularity of frozen foods with British consumers is set to become a long-term success in the market; the study has shown that frozen food is very popular among young shoppers with 40% of 18-24 year olds preferring frozen vegetables, fruit meat and fish over fresh options. They also highlight 2 key reasons as money spent on food and the amount of food wasted; reporting that every £1 spent on fresh food 15ps’ worth is thrown away, proving these issues are important to young consumers with 85% claiming they want to reduce their house hold waste and 48% becoming more concerned about money spent on food since lockdown began.

https://grocerytrader.co.uk/the-frozen-food-revival-britain-experiences-a-frozen-food-rennaisance-with-savvy-and-eco-conscious-generation-z-leading-the-charge/

Lockdown sees frozen food sales rocket by 30 per cent Almost half of UK shoppers are more conscious of wasting food since lockdown, new data shows that switching to frozen from fresh can reduce food waste by 48 per cent Families can also save up to £1,500 a year by swapping from fresh to frozen One in four Brits plan to buy more frozen food from now on A new study commissioned by frozen food giants Birds Eye and Iceland has indicated that the acceleration of frozen food’s revival during the UK lockdown is set to continue, and create long-term changes in shopping habits. With more shoppers than ever being drawn to the category since mid-March, the results of the exclusive study highlight value for money and reduction of food waste as two of the main reasons that the popularity will remain. The collaboration between Iceland and Birds Eye reveals how habits have changed, with the freezer becoming a firm favourite with younger shoppers. Over a quarter (26 per cent) of 18-24-year olds are buying more frozen equivalents of their regular fresh items and almost a third (31 per cent) are trying new frozen foods such as meat substitutes. Generation Z has been paving the way during lockdown and is making frozen fashionable again, with 40 per cent of 18-24 year olds stocking up on more healthy frozen options like frozen vegetables, fruit, meat and fish. As attitudes towards food continue to develop, with people spending more time in the kitchen and cooking from scratch, a third (33 per cent) of all UK shoppers are using their freezer more efficiently with a further one in five (21 per cent) including more frozen foods in their cooking. The stats indicate this could be a long-term trend as almost a quarter (24 per cent) plan to continue buying more frozen food after lockdown. The cost saving potential has been highlighted as one of the key benefits that frozen food has over fresh alternatives, with one in five (21 per cent) highlighting how frozen items can be better value for money than fresh, and 17 per cent agree they can get far more for their money from shopping frozen. New data from a previously unreleased study by Manchester Metropolitan University, which analysed the financial impact of families eating fresh and frozen food, found that frozen offers around a 30 per cent saving in comparison to fresh; and the average family could save a whopping £1,500 a year by incorporating more frozen food into their food shops. With over a third (34 per cent) of shoppers planning to tighten their purse strings when it comes to food shopping after lockdown, frozen food is set to be a regular fixture on the nation’s shopping lists. Further research commissioned by Birds Eye and Iceland before lockdown took a deep dive into consumer shopping habits and found that over £188 million worth of food was wasted nationwide each week. For every £1 spent at the till, more than 15p was money down the drain due to the amount of fresh food thrown away. 85 per cent of consumers expressed a desire to reduce their household food waste, but a quarter of those admitted to not knowing where to start. But it seems that lockdown has given shoppers the time to reflect, with 47 per cent of those polled expressing they are far more conscious of the food that their household is wasting since March, with the figure rising to over half (54 per cent) of 18 – 24-year olds. When asked why, the top reasons were becoming more aware on what they are spending on food (48 per cent), avoiding unnecessary trips to the shop (44 per cent) and being more conscious of the food that is being wasted collectively (39 per cent). When it comes to food and shopping habits, the resilience and adaptability of British shoppers has led them to find the silver lining. Over a third (34 per cent) plan to be more considerate with their money, 19 per cent have become more adventurous with their cooking and a quarter (25 per cent) are spending more mealtimes together as a family. Saving money by switching from fresh to frozen, does not mean compromising on health, in fact, a quarter (25 per cent) of shoppers have eaten more frozen vegetables in lockdown than they did before, with peas, sweetcorn, carrots and broccoli taking pride of place in freezers. 14 per cent have even increased their vegetable intake during the lockdown months thanks to the convenience of frozen, with the number rising to 17 per cent for 18 – 24 year olds; an age bracket traditionally known as being less likely than other adults to get their five-a-day. Steve Challouma, General Manager UK at Birds Eye said: “It’s clear that whilst lockdown has brought many different challenges, new frozen shopping habits have emerged to help us save money and reduce food waste, whilst still enabling us to enjoy great quality and delicious food. The research also shows that many of us are making healthy food choices and adding more goodness to our diet – with shoppers actively buying more frozen vegetables. “We’re excited to see shoppers discovering the many benefits of frozen food including the interesting and tasty products on offer, and how they can be enjoyed on their own or used in creating delicious recipes. As households become even more conscious of their spending, we expect this behaviour to continue.” Richard Walker, Managing Director at Iceland said: “We’ve been passionate about the benefits of frozen food for decades, and frozen has never been more relevant than today. Many families have taken positive learnings from lockdown, and we recognise that families are looking to reduce both their household spending and food waste more than ever before. We believe that simple switches to frozen food can help to make a real difference, without any need to compromise on taste or quality. “The recent findings highlight the positive role frozen food can play, and we look forward to inspiring more and more families to make the switch to frozen as a permanent change.”

Asset managers set to benefit from blockchain technology

Experts have said that asset managers will benefit from blockchain technology as it has the potential to reduce incremental back office costs as well as accelerate settlement deals and immediately highlight risks to managers and regulators. Additionally, blockchain will allow asset managers to maintain transaction confidentiality as well as the anonymity of all parties involved.

http://marketsmedia.com/blockchain-buyside-by-jill-carlson-chain/

Contributors Corner Where Can Blockchain Take the Buyside? (by Jill Carlson, Chain) The peer-to-peer economy has exploded over the last decade. Retail lending and crowdfunding have been revolutionized by this model, but there are huge opportunities for other areas of the financial industry to adopt peer-to-peer systems, in particular in the capital markets. Individuals and hedge funds alike continue to rely on trusted third parties to act as custodians for their assets. Blockchain technology enables end users to have direct ownership and control of their assets, whether bitcoins or bonds. Using this technology, assets are not controlled by a central third party. There is no need for messaging layers, settlement steps, or reconciliation. When ownership is simple, transacting is a one step process with limited need for intermediaries. Blockchains benefit the parties who hold assets. In the capital markets, these parties are invariably asset managers, who hold assets on behalf of their investors. On the sellside, blockchain technology can offer major improvements over existing systems. It can cut incremental back office costs, speed up settlement, and make risk transparent in real-time to managers and regulators. This area is being explored by technology teams at every major bank, as it should be. However, due to a combination of risk aversion and misunderstandings on the current limitations of the technology, buyside players have left opportunities to deploy or participate in blockchain networks largely untouched. Yet many of the challenges that the buyside faces can be solved with distributed ledgers. Regulatory shifts such as Basel III and the Dodd-Frank Act have created major pain points for banks, limiting their risk exposure and imposing stricter rules around market making. The growing buyside community, meanwhile, has not adjusted to this reduced liquidity environment. This has resulted in dislocated markets: trade volumes across asset classes are on the decline, while portfolio managers and traders complain of poor execution and the difficulty of price discovery. In the face of these problems, banks and buyside institutions alike are increasingly turning to electronic trading platforms. Price streaming of over-the-counter products has become obligatory for trading desks. Much of the volume traded on Wall Street takes place on matching systems on which traders show their interest to buy or sell securities at a market midpoint and, if matched, pay a nominal commission to the inter-dealer broker. Asset managers and others have attempted to create comparable matching platforms. Additionally, smaller disruptive players such as TruMid have launched all-to-all platforms that include both buy- and sellside participants, aiming for increased liquidity and lower trading costs. The trend toward counterparties trading directly with each other is precisely the sort of function that blockchain enables. Financial intermediaries allow asset managers to maintain anonymity, preserving the confidentiality of transactions and trading strategies. Breakthroughs in blockchain technology are beginning to provide for this by protecting the privacy of all parties involved such that neither the counterparty nor the financial community at large will know who has undertaken the trade. Financial intermediaries provide guarantees among counterparties by keeping tabs on margin and capital requirements and reconciling trades and accounts. Blockchain technology creates a single version of the truth. Blockchains can support smart systems that only allow a fund to transact if it meets the financial requirements needed to execute the trade. A financial system in which asset managers trade directly with each other can be built on blockchain technology. Blockchains create an environment where trust, anonymity, security, confidentiality, speed, and regulatory transparency are inherent. The greatest barrier to the creation of such a financial system is the network effect at play in the deployment of blockchain technology. In order for a blockchain to be useful, multiple legal entities should be engaged on the network. There are two paths that have developed in the effort to reach this goal. The first is top-down: to engage all relevant market players in designing protocols and governance structures. Naturally, however, this means trying to align interests among those who are direct competitors. The second is bottom-up: to build technology that is fit-for-purpose for a given use case, even if the benefits gained from it are initially limited. This latter path allows the technology to be prototyped, piloted, and put into production without market-wide consensus as a prerequisite. Players can be quick to ship, trial, and improve blockchain architecture. From there, the technology can be expanded and the network can be reasonably expected to grow. Banks are deeply engaged in this conversation, exploring both paths toward the future of financial infrastructure. Asset managers, mutual funds, and hedge funds should join the discussion in order to have a role in shaping this future.