Datasets:

d0rj

/

curation-corpus

like 1

Egypt could harness wind and solar to the tune of 2 GW

Egypt has the potential to add 2 GW of solar and wind power generation annually, but its bureaucrats can only process one project at a time, according to European Bank for Reconstruction and Development executive Harry Boyd-Carpenter. He called the country “renewable energy heaven” with an 11 metre-per-second wind resource and 3,000 full hour loads for solar. Yet just 661 MW of solar and 1.2 GW of wind had been installed by the end of 2018. Boyd-Carpenter said while he and other agencies can help to find advisers and consultants, there was no substitute for bureaucrats that lacked the resources.

https://www.rechargenews.com/transition/1859725/renewable-energy-heaven-egypt-should-be-2gw-annual-market

With its growing energy demand, strong winds and bright sunshine. Egypt should be adding 2GW a year of solar and wind, but its civil service has only been given enough capacity to process one project at a time, says a senior executive at the European Bank for Reconstruction and Development (EBRD). Harry Boyd-Carpenter, head of energy for Europe, the Middle East and Africa at the London-based mutilateral, told the Green Investment Group’s Green Energy Conference that the North African country should be a major global player in renewables. Yet it had only installed 1.2GW of wind and 661MW of solar by the end of 2018, according to Global Wind Energy Council and SolarPower Europe figures. “Egypt is honing in on 100 million people, a fast-growing economy, a fast-growing electricity market, they have 11 metres-per-second wind resource, they have onshore wind farms with 55% capacity factors, they have close to 3,000 full load hours in solar plants, it’s just renewable-energy heaven,” said Boyd-Carpenter. “We’ve been working very closely with the government over the past few years, we’ve done a gigawatt now of renewables capacity ourselves [in Egypt]. There are four or five people at the top of the ministry and the electricity transmission company and the regulator who are brilliant ­— incredibly dedicated, incredibly hard-working, but they have no back-up,” he said. “The woman who runs private-sector projects in the electricity transmission company in Egypt had no email for two months because they moved offices and it took two months to reinstall her computer.” Article continues below the advert Boyd-Carpenter continued:“The calibre and the commitment [of these individuals] is as good or better than anything you’ll see in more developed markets, but there’s no depth. There’s nobody that these people can call up and say, ‘okay, I’ve taken this executive decision, make it happen’. “Now we and others try to step in and fill that gap, we’ll fund consultancies, we’ll fund advisors to try to fill in, but the reality is — and this is an economy-wide problem in many developing countries — you can’t substitute for a civil service that just doesn’t yet have the culture and the resources. And I don’t have an easy answer for that.” “[This is] frustrating, because I see in Egypt, they should be rolling out 2GW a year. But this team, these few people can only focus — even working 18 hours a day — on one project at a time.” Boyd-Carpenter added that he also sees Morocco, Jordan and Tunisia as great potential markets for renewables developers, with growing energy demand and first-class wind and solar resources.

** Poundland set to trial online delivery service from early next year

Poundland will trial an online delivery service and refurbish a raft of high street stores as part of the 'biggest transformation in its history. The transformation plan, dubbed Project Diamond, will also see it open new stores in the UK and Ireland. Poundland will also accelerate the roll-out of chilled and frozen food to 60 stores by September.

https://www.dailymail.co.uk/news/article-8530457/Poundland-trial-online-deliveries-huge-investment-revamp-High-Street-stores.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Poundland is to trial an online delivery service and refurbish a raft of high street stores as part of the 'biggest transformation in its history'. The discount chain said that customers will see refreshed stores and extended choice as a result of the multimillion-pound investment plan. The transformation plan will also see it pilot a poundland.co.uk home delivery service early next year from its new distribution site in Cannock. The company said the exact details of the online service are still being worked out but that details will be made public as soon as they are available. Poundland have announced plans to invest millions into their high street stores and will trial an online delivery service next year to boost economy after the impacts of coronavirus Poundland said the revamp of stores will see it develop larger 'destination' sites where it will offer the fullest range of products including food, homeware, health and beauty and clothing. It said it will also split its store estate into 'convenience' stores for customers to quickly purchase products and 'core' stores which will offer a wider variety of products on high streets. The transformation plan, dubbed Project Diamond, will also see it open new stores in the UK and Ireland. The company has announced they will be bringing branches to new towns such as Ingoldmells in Lincolnshire and expand in existing towns such as Stockton-on-Tees, County Durham. Poundland will also accelerate the roll-out of chilled and frozen food to 60 stores by September, with plans to extend this to more sites later in the year. About 28 Poundland stores already offer chilled and frozen food products, including in Gateshead, Leeds and Blackburn but the company are continuing to expand this service with stores in Greenwich Retail Park and Uxbridge high street due for upgrades this week. The company will also open six more Pep&Co fashion concessions within Poundland stores, bringing the clothing brand to 310 locations. These stores will open at branches in Sutton Coldfield Princess Alice Retail Park, Kings Lynn Retail Park, Peterborough Retail Park, Peterborough Hereward Cross centre and Cortonwood shopping park in Barnsley An additional branch will be launched in August by Shirley Parkgate shopping centre near Solihull. The chain said it's also looking to introduce a clearer pricing structure, with items varying from £1 to £5. Three new stores in Ireland, known as Dealz, will also open on Thursday in Rathfarnham, Buncrana and Clonakilty. Barry Williams, Poundland managing director, said: 'We're stepping up to support high streets after the impact of the coronavirus by being customer-focused, people-led and tech-enabled. 'This is the biggest transformation in our history as we look to secure our future for another 30 years.'

Canadian Armed Forces increases defense spending on cybersecurity

Canada's Defence Minister Harjit Sajjan has launched an "ambitious but achievable" plan to modernise the country's military and enable it to "detect, organise and identify cyber threats", posed by ISIS and Russia. The country's defence budget is set to rise by 70% to CAD32.7bn ($24.7bn) over the next 10 years, to accommodate a "modest" increase in special forces, modernising the submarine fleet and increasing the numbers of regular and reserve troops, among other moves. "This is a policy that gives the right resources for the military now to actually create the implementation plan to move forward," said Sajjan.

http://www.cbc.ca/news/canada/edmonton/harjit-sajjan-edmonton-defence-policy-1.4159924?cmp=rss

To modernize for warfare in the 21st century the Canadian Armed Forces will put increased emphasis on training to deal with cyber attacks, and plans to recruit more cyber specialists, Defence Minister Harjit Sajjan said Wednesday in Edmonton. As part of the Liberal government's plan to increase the defence budget over the next decade by 70 per cent, to $32.7 billion, the armed forces will be given more resources to fight online enemies and prevent internet attacks, Sajjan said during a visit to Edmonton Garrison. "The use of cyber technology in a military context is growing steadily," the minister said. "Canada must leverage that technology to maintain military advantage. Our forces need to be equipped with the ability to detect, organize and identify cyber threats and be prepared to take appropriate action." Calling the plan ambitious but achievable, Sajjan said the government is committed to investing over the next 20 years in improving cyber and space aspects of defence in the the Canadian Armed Forces. The Liberal plan calls for a slight increase in the size of the military, and a modest increase in the size of the special forces. It also includes modernizing the country's submarine fleet, replacing the CF-18 fleet with 88 advanced fighter aircraft and growing the number of regular and reserve troops by 5,000. Sajjan has called the military an "indispensable tool" of Canada's foreign policy. He pointed to ISIS and increased aggression by Russia as reasons for the increased spending in the new plan. 'Significant benefits' for military in Edmonton, Sajjan says Standing in front of a Leopard 2 tank, Sajjan said he will allow the chief of the defence staff to implement the government's new defence plan, which he said Edmonton will see "significant benefit from." "This is a policy that gives the right resources for the military now to actually create the implementation plan to move forward. But given that this is one of the largest bases here in Western Canada, there's going to be significant benefits here as well." The benefits in Edmonton include the delivery of new tactical armoured patrol vehicles, with the first six expected at the base by the end of June. About 50 more are scheduled to arrive at the Garrison by the end of October. A tactical armoured patrol vehicle in a residential section of Saint-Barthélemy, Québec during the floods in May 2017. (Canadian Armed Forces) Last week, 98 Edmonton-based soldiers were deployed to Latvia for Operation Reassurance, a NATO defence mission meant to deter Russian aggression against the eastern European country. Another 350 troops, mostly from Edmonton, are expected to follow. At present, 200 troops from Edmonton are in Ukraine for Operation Unifier, a mission meant to support Ukraine forces by providing military instruction. Sajjan held a private town hall meeting with about 300 soldiers in Edmonton on Wednesday morning.

Maharashtra wants to amend EPAs for 500 MW of wind power

The Maharashtra State Electricity Distribution Company (MSEDCL) has been granted requests for changes to energy purchase agreements covering 500 MW of wind power which had or were about to expire. The Maharashtra Electricity Regulatory Commission agreed to reduce minimum installed and bid capacity from 5 MW to 0.5 MW, and 25 MW to 0.5 MW, respectively. MSEDCL also secured permission for a capacity utilisation factor below 22% and a maximum six-month cumulative period for repowering included in a power purchase agreement.

https://mercomindia.com/maharashtra-discom-epa-wind-power/

The Maharashtra State Electricity Distribution Company Limited (MSEDCL) has received the approval it sought from the Maharashtra Electricity Regulatory Commission (MERC) for deviations in the standard bidding document for the long-term procurement of 500 MW of wind power. The approval was sought for wind projects for which the energy purchase agreements (EPAs) had expired or are about to expire in FY 2019-20. The MSEDCL has sought the approval for admitting its petition as per the provisions of Regulation 19 of MERC (Renewable Purchase Obligation (RPO), Its Compliance and Implementation of REC Framework) Regulations, 2016. According to the standard bidding guidelines issued by the Ministry of Power (MoP) in 2017, the MSEDCL can propose the deviations to the commission, and after due approval, the DISCOM can implement them for the fulfillment of its RPO. In a similar case earlier this year, the state commission had directed MSEDCL to procure wind power through the competitive bidding route from wind power projects whose EPAs with MSEDCL had expired. In that order, the commission had mentioned that as the wind generators had their EPAs with MSEDCL for past several years and their projects were already commissioned, MSEDCL may take appropriate deviations, from provisions of the competitive bidding guidelines with prior approval of the commission. The rate discovered in the bidding process would be dealt with by the MERC during the tariff adoption process for meeting the requirement of fulfilling its non-solar RPO. At present, there is a shortfall in the achievement of non-solar RPO targets, and after the expiry of the existing EPAs, it would have a further shortfall in meeting its non-solar target. This will require the procurement of additional non-solar renewable energy certificates (RECs). The MSEDCL is facing a dual problem. On the one hand, due to inadequate quantities of RECs available in the market, RECs are being traded at rates much higher than the floor prices. On the other hand, wind generators are trying to sell power through open access to bulk consumers of MSEDCL and Mumbai utilities. With the increasing targets of RPOs, it was required for the MSEDCL to contract enough non-solar power through long-term contracts. Earlier, it had attempted to procure wind power through a competitive bidding process at the ceiling rate of ₹1.97 ($ 0.02)/kWh, but no response was received from the bidders.

Ryanair warns it could shut bases and cut jobs after 737 Max delays

Ryanair has warned pilots and cabin crew it could close bases and cut jobs after the date for delivery of its first 10 of Boeing’s grounded 737 Max aircraft slipped into the autumn.The Irish low-cost airline said Boeing would not deliver the first aircraft until September or October at the earliest, as Ryanair does not take deliveries during its peak summer months of June, July and August, according to a memo dated 27 January.

https://www.theguardian.com/business/2020/jan/28/ryanair-cut-jobs-737-max-boeing-summer

Ryanair has warned pilots and cabin crew it could close bases and cut jobs after the date for delivery of its first 10 of Boeing’s grounded 737 Max aircraft slipped into the autumn. The Irish low-cost airline said Boeing would not deliver the first aircraft until September or October at the earliest, as Ryanair does not take deliveries during its peak summer months of June, July and August, according to a memo dated 27 January. Two months ago Ryanair said it hoped to get the first of the 135 new 737 Max planes it has ordered in March or April, already two months after their original due date. The memo said the airline’s commercial team would be drafting plans for job cuts over the coming week, with staff to be informed in the first or second week of February. Ryanair declined to give details on the number or location of the redundancies. Boeing’s 737 Max aircraft have been grounded worldwide since March 2019, following two deadly crashes which were blamed on the model’s faulty systems. A total of 346 people died in the two crashes. In the memo Ryanair executive Eddie Wilson wrote that the airline’s summer schedule relied on the delivery of the 10 planes. He apologised for the uncertainty and said the airline would try to prioritise cuts in flight frequencies over the closure of bases. Boeing, the world’s largest aerospace company, has repeatedly pushed back its estimate for when the 737 Max will be allowed to fly again. Last week, it said that deliveries would recommence in “mid-2020” as it awaits US regulators to recertify the plane’s safety following software updates. Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk US manufacturer United Technologies on Tuesday said it expected a hit of between $550m and $600m to 2020 operating profits from its Collins Aerospace subsidiary as a result of factors including the 737 Max. Last week the US airline Southwest said the grounding had cut $828m (£637m) from its 2019 profits, while Tui, the world’s biggest tour operator, last month warned that an extension of the grounding past April could cost it up to €400m (£338m) in 2020. Ryanair on Tuesday also further escalated its row with the government over assistance given to struggling regional carrier Flybe. In an open letter to the UK chancellor, Sajid Javid, Ryanair chief executive Michael O’Leary reiterated claims that the government had breached state aid rules by offering a tax holiday to Flybe. O’Leary also called for the publication of the “secret deal” offered to Flybe. O’Leary described Javid’s statement that Flybe needed “time to pay” taxes as “absurd” because the company is owned by a consortium led by the billionaire Richard Branson’s Virgin Atlantic. The outspoken Ryanair boss criticised “permanent Caribbean resident Richard Branson and his billionaire pals”, saying they were unwilling to bail out Flybe because it is a “loss making turkey” that is “doomed to keep failing”. O’Leary was himself previously a billionaire in euro terms, according to the Sunday Times Irish rich list, although his wealth fell to €865m last year because of a fall in Ryanair shares.

Thai coal miner launches solar subsidiary

Thai mining firm Banpu has launched a subsidiary to develop solar projects. Banpu Infinergy aims to install 300 MW of solar capacity within five years, and offer services including installation, system design, consultation and maintenance. The firm will initially focus on rooftop photovoltaic (PV) systems and solar-powered street lighting, and has already invested in a number of PV projects across the world. Last year Banpu announced plans to invest in $93m in four Chinese projects, and $170m in seven Japanese installations.

https://www.pv-magazine.com/2017/08/29/banpu-targets-300-mw-with-new-downstream-unit/

The Bangkok-based mining firm and energy producer describes newly established group unit Banpu Infinergy as a “one-stop provider of total solar energy solutions,” ranging from consultation and system design to installation and maintenance. It will initially work with industrial and private customers, including factories, hotels, schools and petrol stations, according to an online statement. The group did not specify whether Banpu Infinergy will limit its focus to Thailand, or if it plans to seek opportunities in other markets. “We have more than 30 years of experience and expertise in the coal and power businesses, but we are also eager to develop renewable energy,” said Somruedee Chaimongkol, director of Banpu Infinergy and CEO of its parent. “The renewable energy trend in Thailand will become clearer as it is in other countries, such as Japan, China, Australia and the U.S., where solar energy is widely utilized.” In the first stage of a phased rollout, Banpu Infinergy will focus on supplying and installing rooftop PV systems, as well as solar-powered street lights and unspecified “accessories.” It said that it plans to offer three different sales packages, including one that includes “zero investment” PV system installation and free maintenance over periods of 20 to 25 years, but its announcement was light on details. All of the new company's PV systems will be monitored from a centralized control center. However, Banpu did not elaborate on its plans or how it aims to achieve its goals, beyond saying that it also plans to eventually expand its focus to energy management platforms and storage systems. Popular content While Banpu’s new Banpu Infinergy unit clearly marks the Bangkok-listed miner's shift into solar project development, it has already invested in several PV projects. In April 2016, it announced plans to invest $170 million in seven solar installations throughout Japan, totalling 54 MW. All of the projects will be completed by 2018. And in May 2016, Banpu revealed plans to invest $93 million in four unspecified PV projects in China. “[Banpu Infinergy is] considered a step forward from our solar farm plants in China and Japan,” said Chaimongkol. The Bangkok-listed mining and energy group posted a net profit of $107 million in the first half of this year. It recorded a net profit of $47 million in 2016.

Insurance for autonomous vehicles will bring $81bn in premiums

The US auto insurance sector will benefit from insurance coverage for autonomous vehicles, with the new option providing $81bn over the next eight years. The increase will be due to the potential risks of needing new cybersecurity, software and hardware and additional public infrastructure coverage. Auto premiums are expected to decline gradually as the safer autonomous alternatives become the norm, but premiums should increase first as coverage is sought whilst the technology is still new.

http://www.ien.com/product-development/news/20861947/report-autonomous-vehicles-will-bring-81b-in-new-insurance-premiums

NEW YORK--(BUSINESS WIRE)--May 18, 2017--Insurance coverage for autonomous vehicles will bring US$81 billion in new premiums to the U.S. auto insurance industry over the next eight years, driven by risks related to cybersecurity, software and hardware and by the need for additional public infrastructure coverage, according to a new report from Accenture and Stevens Institute of Technology. “Insurers are bracing for long-term declines in auto premiums as new and safer autonomous vehicles gain adoption,” said John Cusano, a senior managing director at Accenture and global head of the company’s Insurance practice. “However, our research suggests that auto premiums will increase before they decline on this trend, so insurers that can navigate the changing technology environment could win market share.” For the report, “Insuring Autonomous Vehicles: An $81 Billion Opportunity by 2025,” Stevens Institute of Technology developed several models to evaluate the impact of autonomous vehicle technology on the insurance industry. These models were then applied to different scenarios and insurance products based on parameters set by Accenture’s Insurance and Connected Transport teams. The research found that cybersecurity, product (software and hardware) liability and public infrastructure insurance for autonomous vehicles could reach a total of US$81 billion by 2025. The report notes that this premium growth will precede an anticipated decline in industry revenue beginning in 2026 and that, as roads become safer and policies shift from consumers to autonomous vehicle manufacturers and other service providers, insurers will see reduced demand for personal insurance. The research found that cybersecurity insurance will be the greatest potential driver of new premiums, totaling US$64 billion by 2025, followed by product liability insurance (US$14 billion) and public infrastructure insurance (US$3 billion).

BP to pay up to $18.7bn for Deepwater settlement; is BP in takeover play?

BP agrees to pay up to $18.7bn over 18 years as part of a settlement regarding the 2010 Deepwater Horizon oil spill, which killed 11 people and caused one of the largest environmental disasters in US history.  Earlier this month, BP agreed to pay $4.5bn and pleaded guilty to 11 counts of misconduct or neglect of ship officers.  Investec has insinuated that BP’s decision to resolve most of its overhanging liabilities is making it attractive to new investors or even as a takeover target.  ExxonMobil and Chevron are considered to be the most suitable contenders.

http://www.energynewsbulletin.net/storyview.asp?storyID=826952107&section=Industry+Moves&sectionsource=s74

In a nutshell: I grew up in Canada and went to the Royal Military College. After my service I joined Husky Oil and started my career as a bit of a roughneck for four years. What are your professional qualifications and where did you do your studies? I studied for a Bachelor of Engineering in Mechanical at the Royal Military College of Canada and as a result ended up owing them a commitment of four years. What is your earliest oil & gas memory? Working with Husky pumping and drilling wells in Saskatchewan before eventually moving to Indonesia. What made you choose oil and gas as a career? During my four years in the military I spent a lot of time in Calgary, watching the oil and gas guys drilling wells and so on, and just thought that is the life for me. What has been your most enjoyable posting/contract? In my case Indonesia has always been my first love. I realised that the country brought the best out in me as far as the ability to do something. My biggest love is basically the gas industry in Indonesia. What has been your most embarrassing professional moment? I’ll say the most dissappointing moment was when I headed up a farmout on a major exploration play near Sumatra. We farmed it out to the Japanese and the target was one well and it was a big elephant. We got excited when we got the mud up as there was a pressure increase, the zone was perfect but then the well test engineer couldn’t light the flare. Four hours later he rang back and said we had 82% carbon dioxide in 17 tcf. So we still had 1.8 tcf of gas but it was stuck in the middle of this other stuff. What has been your scariest professional moment? My scariest professional moment was probably my first job. I didn’t know anything about the oil and gas industry, I was an army offficer. Husky hired me because I had a leadership track record. The day after I got out of uniorm I bought two pairs of jeans, drove 300km out of Calgary and was in the oil patch. I had never even seen an oil rig. The only way I got through it is that I kept my mouth shut. What has been your greatest sharemarket success? When Conoco bought Gulf Canada they inherited 28% of Gulf Indonesia and I was given the task to mount the defence against Conoco on behalf of the minority shareholders or to negotiate the best deal we could. We analysed the company added a few things up and realised the company hadn’t seen north of $9 for over two years. Eventually we sold it north of $12. What has been your worst investment in the sharemarket? I will just say backing the 17tcf of carbon dioxide in Indonesia. Who or what has been your biggest career influence? My father was definately my biggest influence. At the age of 52 he packed up the family (four kids) and sold his hardware store to go back to university and study his masters in teaching. That set the whole family on our nomadic wanderings because after what he did nothing seemed too hard. What do you see as being the greatest exploration development during your career? We discovered gas in Indonesia by accident when we were looking for oil. So we sat down and analysed everything and said where can we find gas again. We picked a spot, ran some 2D and eventually we discovered 12.5 bcf. So I would say a bit of gut instinct and trusting your knowledge. Do you have any unfulfilled ambitions? In my case I would definately say the reality far exceeds my wildest expectations. I have seen the world, I have been a president of an oil company and had a great role in Indonesia. The only thing I haven’t done is learnt the skills to run a small company which is what I am doing now at Nido, so this is my unfulfilled ambition. You have spent time in many different countries, have you ever had any language difficulties while abroad? When you go to Indonesia the first thing you do is take Indonesian lessons just to earn a bit of respect from the locals. But then you realise that in the oil industry in Indonesia english is the first language of business and they would all prefer to use english than have me crucify their language. I had a lot of respect for the locals as I realised that everyone I met spoke at least one more language than me. What is your proudest achievement? Developing the gas market in Indonesia. On August 9th this year a group of Indonesian colleges got 2.3 tcf of gas under contract from Sumatra to Jakarta and it is going to replace diesel being burned in industry.

Amazon Web Services to open first African datacentre in 2020

Amazon Web Services (AWS) is to launch datacentre infrastructure in Africa. The subsidiary company confirmed plans to open three availability zones in Cape Town in H1 2020. AWS stops companies requiring onsite servers by offering flexible cloud computing capabilities. It accounts for over 10% of Amazon’s overall revenue and currently has around 19 active centres worldwide. While it can help African customers already, having local infrastructure increases data-transfer speeds and reduces latency. As well as highlighting its eagerness to work closer with African companies, Amazon noted its Amazon Elastic Compute Cloud (EC2) was mostly developed in Cape Town.

https://venturebeat.com/2018/10/25/amazons-first-african-aws-data-center-will-open-in-cape-town-in-2020/

Missed the GamesBeat Summit excitement? Don't worry! Tune in now to catch all of the live and virtual sessions here. Amazon Web Services (AWS) is finally launching datacenter infrastructure in Africa, with the Amazon subsidiary today revealing plans to open three availability zones in Cape Town in the first half of 2020. The news comes ahead of Amazon’s hotly anticipated Q3 financials, and a month after Amazon briefly became a trillion-dollar company. Cloud business Launched in 2006, AWS serves companies of all sizes with “elastic” cloud computing capabilities that eliminate the need for them to have their own on-site servers. Today, Amazon’s cloud business represents more than 10 percent of its overall revenue, and the company counts 19 active datacenter regions globally across the Americas, Europe, Asia, and Australasia. Event Transform 2023 Join us in San Francisco on July 11-12, where top executives will share how they have integrated and optimized AI investments for success and avoided common pitfalls. Register Now It has five additional regions in the works, including its first Middle Eastern region, which is expected to open next year. Though Amazon can already serve African customers from its other regions, it’s important to have datacenter infrastructure as close to your customers as possible, as this helps reduce latency and improve data-transfer speeds, which is why the company is now looking to launch three availability zones in South Africa. Launching in Cape Town also represents a symbolic return home for AWS — Amazon Elastic Compute Cloud (EC2) was largely developed in Cape Town by a team led by Chris Pinkham. “Having built the original version of Amazon EC2 in our Cape Town development center 14 years ago, and with thousands of African companies using AWS for years, we’ve been able to witness first-hand the technical talent and potential in Africa,” noted AWS CEO Andy Jassy, in a press release. “Technology has the opportunity to transform lives and economies across Africa, and we’re excited about AWS and the Cloud being a meaningful part of that transformation.” Microsoft has previously announced plans to open its first African datacenters, in Cape Town and Johannesburg, sometime in 2018. Google has yet to announce anything for Africa in terms of its Cloud Platform, but now that Microsoft and Amazon have shown their hands, you can bet Google will reveal something in the not-too-distant future.

West Bengal planning 241 public EV charging stations

The West Bengal state government plans to invest INR1.25bn ($18m) deploying a total of 241 EV charging stations in the Kolkata Metropolitan Area. Officials said 115 stations are planned for the city centre, with 60 under consideration for the state and national highways. The rising cost of fossil fuel and the financial benefits of EVs were cited as reasons for the scheme. The West Bengal State Electricity Distribution Company will publish tariff and service charges in due course.

https://timesofindia.indiatimes.com/city/kolkata/241-ev-charging-stations-in-city-suburbs-for-rs-125cr/articleshow/71283786.cms

KOLKATA: The state government is ready with a plan of setting up 241 charging stations for electric vehicles (EVs) in Kolkata Metropolitan Area , the project cost for which has been pegged at Rs 125 crore. The authorities are making this move because of a rising fossil fuel prices and the budgetary benefits for having EVs.“TERI is working with the government of West Bengal in identifying suitable locations for public charging stations,” said A N Biswas, power department commissioner and nodal officer for the state’s EV policy, at a symposium on ‘Future Mobility: E vehicles in India’ organised by the Institution of Engineering and Technology.Significantly, WBSEDCL is the nodal agency for establishing public charging stations in the state along with fixing tariff and service charges for public vehicles. The tariff and service charges will soon be published. But the running cost of EVs will be between Rs 1 and Rs 2 per kilometre.To encourage electric vehicles, the Centre has announced an outlay of Rs 10,000 crore for the Faster Adoption and Manufacturing of Electric-2 (FAME-2) scheme to boost the number of EVs in India. A source said Rs 1000 crore has been earmarked for EV charging stations in India. Bengal has made its plan ready to optimise the infrastructure for e-vehicle charging stations.“Power minister Shobhandeb Chattopadhyay mandated that the city must have one charging station in every 3 square kilometres and one at every 25 kilometres on state and national highways. This infrastructure will enable EV motorists to roam around without having tension of running out of charge,” said Biswas.“We have planned 115 power charging stations in 3kmX3km area at Kolkata core, while 60 such stations are being considered for state and national highways. Ten of them will be for heavy vehicles,” said Alekhya Datta, Fellow and Area Convenor of Electricity and Fuels Division, TERI. Because of the slow charging of EVs — 2-3 hours for fast chargers (DC) and 7-9 hours for slow chargers (AC) — many experts had opined that it’s better to bank on hybrid vehicles, which can run both on fossil fuel and battery, too.Earlier, MD (distribution), CESC, Debasissh Banerjee said, “CESC is working with KMC and CREDAI to set up public charging stations below flyovers like Maa and AJC Bose, at Dhakuria and at residential complexes and parking lots. Chairman, WBERC, Sutirtha Bhattacharya, said: “Kolkata had led electric fleet long ago through trams and Metro.”

NATO head urges Turkey, Austria to solve conflict

NATO Secretary-General Jens Stoltenberg has called on Turkey and Austria to bury the hatchet, as an ongoing row puts cooperation programmes at risk. "It's a bilateral situation between Turkey and Austria and we strongly urge them to solve it, so that it won't have negative consequences." Stoltenberg said. Turkey has had a frosty relationship with Austria - a non-NATO member who cooperates with the alliance - since last year, when Austria led calls last year to halt Turkey's European Union accession talks. Turkish President Tayyip Erdogan has also recently criticised Germany and the Netherlands.

http://uk.businessinsider.com/r-nato-head-urges-turkey-austria-to-solve-conflict-2017-3?utm_source=feedburner&utm_medium=referral&r=US&IR=T

NATO Secretary-General Stoltenberg delivers his speech during the 53rd Munich Security Conference in Munich Thomson Reuters COPENHAGEN (Reuters) - NATO's Secretary-General Jens Stoltenberg urged Austria and Turkey on Friday to resolve a diplomatic dispute that has led to some cooperation programs being blocked. Turkey, a NATO ally, has withdrawn from some alliance participation - mostly military training - saying the move is aimed only at Austria. "It is a very unfortunate situation and it means some cooperation programs can't be launched," Stoltenberg told reporters during a visit to the Danish capital Copenhagen. Austria, which is not a NATO member but cooperates with the alliance, led calls last year to halt Turkey's European Union accession talks. Vienna has also spoken out against Turkish politicians holding rallies in European countries. "It's a bilateral situation between Turkey and Austria and we strongly urge them to solve it, so that it won't have negative consequences for the cooperation," he said. The diplomatic tensions predate a current escalation with other European countries like Germany and Netherlands but as fellow NATO members Turkey cannot block cooperation with them. Turkish President Tayyip Erdogan has compared Germany and the Netherlands to fascists and Nazis for stopping Turkish politicians from rallying to promote a referendum granting him sweeping new powers. Erdogan on Thursday said Dutch Prime Minister Mark Rutte had lost the friendship of Ankara after the diplomatic row. NATO officials told Reuters that the blocking also affected other countries that cooperate with the alliance but are not members. Separately, Austrian tabloid newspaper Oesterreich said its website was brought down on Friday morning by a cyber attack "from Turkey", the latest in a series of similar incidents that appear to be connected to Vienna's spat with Ankara. It did not present evidence to support the accusation. "The Turkish cyber attack on our website was launched out of anger by Erdogan's cadres because oe24 and Oesterreich report critically and independently on Erdogan and his policies," the newspaper said in an article. (Reporting by Teis Jensen in Copenhagen, additional reporting by François Murphy in Vienna writing by Nikolaj Skydsgaard and Stine Jacobsen; Editing by Gareth Jones and Julia Glover)

Cost of floating wind declining faster than offshore: Equinor

Prices are falling faster for floating wind projects than traditional offshore farms, according to a report by Equinor. It said while the floating industry lags its counterparts by a decade in terms of timing, it has outpaced them for costs. With the right policy framework, 10 GW could be installed by 2030, according to Wood Mackenzie, while Equinor is eyeing markets in California, France, Scotland and South Korea. Hywind Scotland, in its two years of operation, achieved capacity factor of 56%, compared to average of 40% for UK offshore and 30% or less for onshore schemes.

https://www.greentechmedia.com/articles/read/floating-wind-is-cutting-costs-faster-than-regular-offshore-wind

The cost of floating wind farms is on a steeper decline than that of traditional offshore wind, with the emerging sector increasingly attractive to oil and gas companies, said Sebastian Bringsværd, head of floating wind development at Norwegian energy giant Equinor. After years of industry anticipation, the floating wind market is finally gaining momentum in a commercially meaningful way. The goal, Bringsværd said, is to scale floating projects up to a comparable level as traditional projects, which are often 500 megawatts or larger, taking advantage of offshore wind’s huge economies of scale. Just a few years ago that was an “ambitious” vision,” Bringsværd said. “Now I see that's very realistic.” In its annual report released on Thursday, Equinor, among Europe's largest oil producers, laid out a new climate roadmap to keep it in line with the Paris Climate Accord, including plans to transform into a "global offshore wind major." Equinor, among Europe's largest oil producers, intends to grow its fleet of renewable energy projects tenfold by 2026, to 4-6 gigawatts, on the way to 12-16 gigawatts by 2035. The Norwegian company, majority owned by the government, also pledged to halve the carbon intensity of its energy products by 2050. Within the renewables sphere, Equinor carved out an early leadership position in the emerging floating wind sector, completing the industry’s first full-scale project several years ago, the 30-megawatt Hywind Scotland. ACS Group’s 50-megawatt Kincardine Bay floating project, also off the coast of Scotland, will go into operation later this year, setting a new industry benchmark. And Equinor recently gave the green light to its 88-megawatt Hywind Tampen project off the coast of Norway, which will power two of its drilling operations upon its scheduled completion in 2022. Hywind Tampen is a “stepping stone,” Bringsværd said. “It's providing the scale we need to prove the cost reduction curve — and it’s reducing our carbon footprint from our oil and gas production.” "The figure the industry is aiming for is around €40 to €60 [$44 to $66] per megawatt-hour by 2030," he added. While still a very expensive option for renewable power today, hovering around $250 per megawatt-hour by some estimates, floating turbines promise to unlock areas for wind development in waters too deep for regular monopile or jacket foundations. Among the technology’s obvious benefits is the ability for projects to tap the excellent wind resource often found far from shore while avoiding any visual impact from land. In Hywind Scotland’s first two years of operation, it achieved a capacity factor of 56 percent. By comparison, the average for a U.K. offshore wind farm in 2018 was around 40 percent, according to government figures. Many onshore wind farms are at 30 percent or lower, and solar averages less than that. California, France, Scotland and South Korea are all promising markets for floating offshore wind, Bringsværd said. Wood Mackenzie expects 350 megawatts of floating offshore wind in operation by 2022 at various demonstration projects, and up to 10 gigawatts by 2030 with the right policy frameworks in place. Europe currently has a total of less than 50 megawatts of floating wind installed. Sebastian Bringsværd, Equinor's head of floating wind development. (Credit: Equinor) “In terms of timing, we are more than 10 years behind [fixed bottom offshore wind]; in terms of costs, we're ahead,” Bringsværd told GTM. Equinor is also investing in traditional offshore wind, having last year won a contract for its 816-megawatt Empire Wind project in New York, as well as in onshore renewables. In its annual report released this week, Equinor said it plans to transform into a "global offshore wind major," aiming for 12 to 16 gigawatts of installed renewable capacity by 2035. Floating wind's crossover appeal Equinor is not alone among major energy companies in focusing on floating wind's potential. “Experienced developers are starting to position themselves more aggressively in the floating industry by forging alliances and building up floating wind pipelines,” Rolf Kragelund, director of global offshore wind at Wood Mackenzie, wrote this week. Among the recent collaborations is WindPlus, which includes Repsol, Engie, EDP and floating wind technology firm Principle Power. Shell recently bolstered its capabilities with the acquisition of the floating wind developer Eolfi. “So far, the commercialization of floating wind has been hampered by a Catch-22, where developers argue that capacity is needed to reduce the cost of floating wind, while governments argue that cost declines are needed for governments to allocate capacity to floating wind,” Kragelund wrote. But there are signs the impasse is starting to break. The ScotWind seabed leasing round, out later this year, will include a carve-out for floating projects in Scottish waters, and broader momentum is building for the U.K. to do the same through its contracts for difference program. France is backing floating wind projects in a dedicated tender, at least partially prompted by the need to quell local opposition to near-shore turbines. Meanwhile, EDP and Norwegian oil services firm Aker are exploring the development of a 500-megawatt floating wind complex off the coast of Ulsan, South Korea. The City of Ulsan would cooperate with the development of a waterside supply chain base. Equinor is part of a consortium eyeing a 200-megawatt project, Donghae 1, in the same region, with a potential commissioning date of 2024. The U.K., in particular, has advantages both in historical deployment and its native supply chain, Bringsværd said. The technology that underlies floating wind is not especially new, and many of the competencies are an even stronger match for the existing oil and gas supply chain than with fixed-bottom offshore wind, he said.

Provisional deal 'even worse than we expected': British in Europe

Citizens' rights issues have been set aside in the most recent round of talks, according to British in Europe, an organisation representing 10 core campaign groups. "We feel we have been sacrificed on the altar of trade”, said Ingrid Taylor, a British citizen living in Germany. 4.5 million citizens are currently awaiting assurance on their right to move freely around EU countries.

https://www.theguardian.com/politics/2017/dec/11/sacrificed-on-the-altar-of-trade-brits-in-europe-feel-betrayed-by-brexit-deal

British nationals living in mainland Europe say they are alarmed by claims that their rights have been protected by the Brexit deal sealed by Theresa May and Jean-Claude Juncker. One Briton, Ingrid Taylor, who is settled in Germany, described claims that their rights were now guaranteed as “a barefaced lie”. Brexit impacts on the future lives of an estimated 1.2 million Britons settled in mainland Europe, most of them working. They have accused May and Juncker of sacrificing them in the rush to sign off phase one of Brexit talks. Taylor said that she believes the European commission has started to use British people in the rest of the EU as “bargaining chips” in reaction to the “intransigent stance” Theresa May took on EU citizens living in the UK. “After what happened on Friday, the anger has risen,” she said. “We feel betrayed, we feel anger, we feel we have been sacrificed on the altar of trade.” One of the biggest fears of such Britons is that they will remain “landlocked” in the country in which they now live, unable to move across borders to work for meetings, or for business contracts. Quick Guide What are Brexit options now? Four scenarios Show Staying in the single market and customs union The UK could sign up to all the EU’s rules and regulations, staying in the single market – which provides free movement of goods, services and people – and the customs union, in which EU members agree tariffs on external states. Freedom of movement would continue and the UK would keep paying into the Brussels pot. We would continue to have unfettered access to EU trade, but the pledge to “take back control” of laws, borders and money would not have been fulfilled. This is an unlikely outcome and one that may be possible only by reversing the Brexit decision, after a second referendum or election. The Norway model Britain could follow Norway, which is in the single market, is subject to freedom of movement rules and pays a fee to Brussels – but is outside the customs union. That combination would tie Britain to EU regulations but allow it to sign trade deals of its own. A “Norway-minus” deal is more likely. That would see the UK leave the single market and customs union and end free movement of people. But Britain would align its rules and regulations with Brussels, hoping this would allow a greater degree of market access. The UK would still be subject to EU rules. The Canada deal A comprehensive trade deal like the one handed to Canada would help British traders, as it would lower or eliminate tariffs. But there would be little on offer for the UK services industry. It is a bad outcome for financial services. Such a deal would leave Britain free to diverge from EU rules and regulations but that in turn would lead to border checks and the rise of other “non-tariff barriers” to trade. It would leave Britain free to forge new trade deals with other nations. Many in Brussels see this as a likely outcome, based on Theresa May’s direction so far. No deal Britain leaves with no trade deal, meaning that all trade is governed by World Trade Organization rules. Tariffs would be high, queues at the border long and the Irish border issue severe. In the short term, British aircraft might be unable to fly to some European destinations. The UK would quickly need to establish bilateral agreements to deal with the consequences, but the country would be free to take whatever future direction it wishes. It may need to deregulate to attract international business – a very different future and a lot of disruption. Was this helpful? Thank you for your feedback. British in Europe, an organisation representing 10 core campaign groups, has called on the European parliament to vote against endorsing the deal struck between May and Juncker on Friday. “We are very upset about it, as it is not fixed. The media are being told that we can live as we did before and that is simply not the case,” said Jane Golding, chair of British in Europe. “In May, the European commission offered to confirm our existing rights but the UK government didn’t accept the offer, and now we are left worse off.” The row centres on a promise made by the European commission in May to guarantee that Britons already settled in the EU could continue to move freely around Europe for work, holidays or retirement. It would have meant that a British family who had moved to Germany or any other country 30 years ago could still plan on retiring in the south of France, or working across borders, as was their entitlement under EU law. But to the shock of British in Europe, the commission reneged on the offer in July after the UK declined its overall offer and came up with its own, limiting the rights of EU citizens living in the UK post-Brexit. “The offer was on the table and it could have been agreed there and then, but because of the intransigence of the government towards EU citizens in the UK, they took it off,” said Taylor. The European parliament’s chief Brexit negotiator, Guy Verhofstadt, warned on Friday it would not approve the deal unless it included those rights for Britons in mainland Europe. #Brexit #citizensrights 1)All rights & benefits covered 2) No more"settled status"3)Direct effect in UK law 4)ECJ binding. But withdrawal agreement for EP only if 1)Also for future partners covered 2)One cost-free declaration per family 3)Free movement of UKresidents in whole EU — Guy Verhofstadt (@guyverhofstadt) December 8, 2017 “This deal is even worse than we expected. After 18 months of wrangling, the UK and EU have sold 4.5 million people down the river in a grubby bargain,” said British in Europe in a statement. Sue Wilson, chair of campaign group Bremain in Spain, voiced similar concerns. “The Tories are crowing as if they’ve pulled off a major success that we should be celebrating and accepting with gratitude. I can assure you that British citizens in the EU are not celebrating or grateful, but more fearful than ever of being thrown under the Brexit bus,” she said. “Rather than resolve these outstanding issues, both sides have clearly agreed to lower the bar as to what constitutes ‘sufficient progress’,” she added. Wilson fears that “citizens’ rights issues will be buried under discussions of trade and transition” in the coming year. In the UK, groups campaigning for the rights of EU citizens are also wary of the deal. Nicolas Hatton, the co-founder of the campaign group the3million, said there was a “big gap between what the government is claiming what EU citizens know is happening”. Hatton has had many English friends come up to congratulate him after Friday. “They say ‘well done’”, he said. “The government has done a good job on misleading everyone.”

Grueling work required to make arm transplants succeed

Recipients of arm transplants face years of gruelling physical therapy and a lifetime of medication to ensure their transplanted limbs are not rejected. However, those who stick to the programme, the reward for all the hard work is increased functionality of the donor limbs. Researchers are also planning to use stem cells from donors to eliminate the use of immunosuppressive drugs, while doctors have called for health insurance providers to offer expanded coverage to make the procedure, currently considered experimental, more widely available.

https://www.statnews.com/2016/08/23/double-arm-transplant/

In 2014, WIll Lautzenheiser underwent double arm transplant surgery. Now, on his final day of occupational therapy, he reflects on getting this far. The arms belonged to someone else. Grueling work made them his own BOSTON — In the lobby of Brigham and Women’s Hospital, a young boy stares at Will Lautzenheiser in his wheelchair. He tugs on his mom’s arm, pointing at Lautzenheiser’s metal legs. But the observant boy misses what is truly remarkable about Lautzenheiser. It’s the arms and hands he uses to move the joystick on his wheelchair, snap on his leg prosthetics, and hug his friends. These limbs used to belong to someone else. A series of tragedies, medical triumphs, and hard work has turned them into his own. advertisement Lautzenheiser, one of about 80 people worldwide with transplanted arms, can’t fathom what another American recipient told People magazine last month — that he had considered getting his transplants removed. Jeff Kepner said his limbs, swollen and lifeless in pictures, had not lived up to his expectations. “Never. Not for a moment” has Lautzenheiser considered getting his transplants removed, he told STAT. “As soon as I saw them, I thought, ‘These arms are beautiful and I’m going to do all I can to make them work and keep them healthy and heal them.’” And work he has. “Arm transplants aren’t for the lazy,” he said. advertisement Lautzenheiser catches a ball during a therapy session with co-op Lizzie Flaherty this month at Brigham and Women’s Hospital, where he received a double arm transplant in 2014. Patients go into their surgeries fully aware that the procedure is experimental and might not succeed, though 95 percent of the transplanted limbs have had good outcomes, said Dr. Vijay Gorantla, administrative medical director of the Reconstructive Transplant Program at the University of Pittsburgh Medical Center. Fewer than 10 of the transplants have had to be removed. To reduce the risk that their body will reject the new limbs, transplant recipients must commit to taking medication every day for the rest of their lives. The surgery is followed by an intense 18 months of occupational therapy to sharpen a patient’s fine motor skills. For Lautzenheiser who had his operation in October 2014, rehab has been a full-time job since. He had his last scheduled occupational therapy session earlier this month, but he will continue with physical therapy to improve his gait. A filmmaker and college professor, Lautzenheiser was teaching out West in 2011 when he caught an aggressive strep infection that progressed to sepsis and necrotizing fasciitis, costing him all four limbs. He still needs help from aides and his partner, Angel Gonzalez, especially with buttoning clothes and preparing meals. But Lautzenheiser can now write his name — in handwriting that isn’t much worse than it was before — grasp tiny objects like pegs on a pegboard and handle his own hygiene. Just a few weeks ago, after forgetting the splints he normally uses for support, Lautzenheiser managed to eat a bowl of ramen unassisted — his first truly independent meal in five years. Lautzenheiser undergoes therapy for his transplanted arms under the watch of Flaherty and physical therapist Wes Congdon, right. Lautzenheiser has worked hard in his therapy sessions, giving him the ability to use his transplanted arms to write, brush his teeth, and eat noodles. “This has restored so, so, so much,” Lautzenheiser, 42, says of his surgery. “Your hands are engines of communication and intimacy, and there’s a lot that can be expressed emotionally through your hands — and to have that restored, for me has been amazing. … People going down the street look at me with a lot less pity than they used to.” Feeling whole again Finding the right transplant patient is key: someone who has the emotional makeup to do the work that’s required every day for the rest of his or her life. The psychological aspects of success are far harder than the technical aspects of the transplant itself. “Transplanting a limb is mostly a feat of organization rather than a feat of surgery,” said Dr. Simon Talbot, director of upper extremity transplantation at the Brigham, who helped lead Lautzenheiser’s care. There were 35 people involved in Lautzenheiser’s nine-hour surgery. And they had to be ready to operate within a few hours. Lautzenheiser was lucky. After a year of testing and consultations with plastic surgeons, orthopedic surgeons, transplant experts, immunologists, psychologists, and social workers counseling to ensure he would be a good candidate for a transplant, he waited only five months for a donor who matched his blood type and physical characteristics. Newsletters Sign up for The Readout Your daily guide to what’s happening in biotech. Please enter a valid email address. Privacy Policy Talbot, a reconstructive plastic surgeon who has been involved with three double arm transplants at the Brigham and one single arm transplant at Massachusetts General Hospital, said he’s choosy about his donors. They have to match the patient’s gender, size, age, skin tone, and immune markers, and the arms have to be in the best condition possible. “You get one chance at this,” Talbot said. Congdon helps Lautzenheiser practice walking with his prosthetic legs. Talbot won’t take arms with tattoos for fear that a family member of the donor might recognize them. Lautzenheiser doesn’t reveal the exact date of his transplant to prevent people from guessing the identity of his donor. A good match is also crucial psychologically, Talbot said. People look at their hands more than their own faces, and he wants his patients to feel like their limbs belong. Lautzenheiser’s new arms tan faster than the rest of him — otherwise, he said, they’re a solid match for his own. It’s psychologically damaging to lose limbs, Talbot said, to be different from other people in such a fundamental way. Little children stare. Their parents turn away. “That sense of social isolation is incredibly disempowering,” he said. Transplantation can make people feel whole again. ‘This has to be successful’ Lindsay Ess is a model patient. She’s so dedicated to getting back the use of her arms that she competes with other disabled athletes on a CrossFit traveling team — called “Some Assembly Required.” Ess lost both hands and feet in 2007 after surgery for Crohn’s disease left her with a systemic infection. She was 24 and had been about to start her first job. Two years later, she signed up for a double hand transplant with doctors at the University of Pennsylvania, and she received her transplant five years ago. She said she opted for the transplant because she never felt comfortable with prosthetics. They were all too heavy and awkward looking. Plus, in all of her dreams, her feet were still gone, but she had arms. After her surgery, she considered physical therapy to be her vocation, and worked her new hands and arms five hours a day for two full years. “This has to be successful,” said Ess, who now lives by herself in Richmond, Va. “I don’t want to fail at it. I’m not a good failure person.” Though she’s proud of her independence, she hasn’t met all her goals. She still can’t handle buttons. “I buy pants that are a size bigger and wear a belt,” so she can slip them on easily. Jars and water bottles remain challenging to open. She struggles to wield a knife with enough force to cut vegetables. And she can’t pull her long brown hair into a ponytail. “I think eventually I’ll figure it out or somebody will teach me,” she said. Having hands has enabled her to get more suitable leg prostheses that she can pull on by herself. When children stare at Ess, she said she likes to explain what happened and how well she functions now. It bothers her if their parents pull them away before they can learn anything about what it’s like to go through life differently. An exit strategy Every transplant patient is different and every procedure has its hitches. Lautzenheiser had to get a second surgery a year ago to realign his right hand, which was stuck perpetually facing upward. There’s still something about his new wrist bone that won’t allow his hand to roll over normally, and he admits that “I fight with my thumb sometimes.” Both arms still bulge at the point of transplant, where surgeons overlapped his own muscles with those of his donor. For Ess, the antirejection medication has been hard on her kidneys. She developed a blood clot in her leg in April, which cost her some strength and fitness. Medication gave her diabetes; steroids left her bloated. And the former model still doesn’t feel feminine enough to be comfortable wearing a dress. Her doctor, L. Scott Levin, chairman of the department of orthopedic surgery at Penn Medicine, said every transplant is a balancing act, trying to keep the good from outweighing the bad. There are three basic things that can go wrong with transplant surgery: the recipient’s body can reject the new limbs; their kidneys can be strained by the antirejection medications; and their nerves can fail to grow into the donor’s muscles, said Levin, also a professor of plastic surgery. Flaherty and Congdon help Lautzenheiser climb stairs during a physical therapy session this month. Drugs that suppress the immune system protect the arms most of the time, if the patient takes them faithfully. And a commitment to physical therapy usually results in muscles that regain function. But all surgeries carry unpredictable risks. If the side effects become unmanageable, surgeons can remove the transplants. Pittsburgh’s Gorantla had to do just that with one patient: a Marine who lost his hand to a bomb. The man was a phenomenal success in terms of function, Gorantla said. Three years after his transplant, he was using his hands to eat with chopsticks and winning at PlayStation. But young enough to still feel invincible, the man didn’t keep up his daily medications and missed checkups. His body eventually rejected the new limb. “There is an exit strategy for hand transplantations,” Levin said. ‘They were already mine’ One difference between transplanting internal organs like a liver or kidney and external ones like arms: it’s easier to quickly detect when something is going wrong and intervene. Sheila Advento has had a few rejection episodes, all of which she’s caught early because of some redness on her skin. A simple steroid cream usually stops the episode and her body goes back to accepting donor arms as her own. “Being a patient, I do have a responsibility to take care of the transplants,” she said. An aggressive bacterial meningitis infection cost her all four limbs in 2003, and Advento used prosthetics for seven years. She never really got used to them. “They were a hassle,” she said. They had cables that would snag, parts that needed to be fixed. “They got heavy at the end of the day.” In 2010, she became the first American woman to receive arm transplants. “After I woke up after the transplants, they were already mine,” she said. For the first two years she spent six hours a day, five days a week in therapy, Advento said. Her sensations of temperature, pressure, and texture are now almost as good as they were on her original arms, though she hopes to gain more control of a few extra muscles. Advento, who lives in Hackensack, N.J., still works part time in the same billing department job she had before her illness. She talks to customers via a headset, writes when she needs to, and keeps up with her typing, even though she can’t use all 10 fingers the way she did when she was hired. “I’m satisfied and I’m happy,” Advento said. Recovery never stops No one knows the outside limit of arm transplants. Nerves regrow at a pace of about 1 millimeter per day. The less arm that needs to be transplanted, the more likely the patient’s nerves will regrow and give them good control over their new hand, says Dr. Curtis Cetrulo Jr., a plastic surgeon at Mass. General. One upside of immunosuppression drugs, Cetrulo said, is that they seem to promote nerve regeneration, perhaps explaining why “nerve recovery has continued to improve a lot longer than we thought.” Doctors used to assume that any muscle control that didn’t come back after 18 months or so would never return. But what they’re seeing defies that assumption. Matthew Scott, the first American to receive an arm transplant, continues to see small improvements 18 years later, said Gorantla, who helped perform Scott’s surgery when he was at the University of Louisville. “Functional recovery never stops,” Gorantla said. “The more you give in terms of physical therapy, the more the possibility of outcomes are.” He was also involved in Jeff Kepner’s transplant and has spoken with Kepner about his disappointments. It’s not clear why Kepner, who was the first person to receive two new arms, hasn’t regained as much motion as others, Gorantla said. Every patient is different. Kepner’s nerves are still functioning well, so Gorantla believes he might see improvements with more physical therapy and some assistive devices. The transplant was a huge success from an immunological perspective, Gorantla said. Kepner needs to take only one low-dose drug a day to keep his body from rejecting the transplants. Newsletters Sign up for Daily Recap A roundup of STAT's top stories of the day. Please enter a valid email address. Privacy Policy Researchers are hoping that injecting transplant patients with stem cells from their donor will allow them to stop taking immunosuppressive drugs altogether. Cetrulo just received approval to give his next transplant patient the donor’s bone marrow cells along with arms. Insurers usually don’t cover arm transplants because they’re still considered experimental, and Levin, at Penn, said expanded coverage would allow more patients to get the procedure and advances to come faster. Respect for his donor To get a sense of what kind of man Lautzenheiser is, consider this: after all four limbs were amputated, when he didn’t have the energy to teach college classes anymore, or the means to hold a camera, he became a stand-up comic, performing at comedy clubs near his Brookline, Mass., home. After he received the arm transplant, he stopped cracking jokes in public. It felt disrespectful, he said. “I’m always aware that these were someone’s arms,” he said. He would never forgive himself if treating the arms as a joke meant someone would turn away from organ donation. Lautzenheiser leaves Brigham and Women’s Hospital after his physical therapy appointment. He talks publicly about his story, hoping it will encourage other people to become donors if tragedy strikes. Lautzenheiser still has goals to reach. His next milestone, he said, will be walking — rather than riding his motorized wheelchair — to the nearby movie theater. He’s now planning his first film since the infection that took away his career; he can’t hold the camera himself, but will direct and edit. It will be a three- to four-minute tribute to the anonymous man whose arms he now carries and to the family members who decided to transform their own tragedy into such a precious gift. Shooting starts Wednesday. Correction: An earlier version of this story misidentified the University of Pittsburgh Medical Center and the location of Matthew Scott’s hand transplant.

How turning trash into treasure can help us dig our way out of Covid’s mess

The Australian government has announced a A$190 million (US$130 million) investment in the nation's waste and recycling industry. The hope is that as many as 10,000 jobs can be created in what is being called a “once in a generation opportunity to remodel the way Australia deals with its waste. Australians create approximately 67 million tonnes of waste a year.

https://theprint.in/environment/how-turning-trash-into-treasure-can-help-us-dig-our-way-out-of-covids-mess/482549/

The Australian government has announced a A$190 million (US$130 million) investment in the nation’s first Recycling Modernisation Fund, with the aim of transforming the country’s waste and recycling industry. The hope is that as many as 10,000 jobs can be created in what is being called a “once in a generation” opportunity to remodel the way Australia deals with its waste. Waste mountain The need for a dramatic increase in Australia’s recycling capacity pre-dates the COVID-19 pandemic. Australians create approximately 67 million tonnes of waste a year, and like in many wealthy countries, much of that was sent overseas. That all changed when China announced it was banning the import of a huge range of foreign waste and recyclables. Soon other countries followed suit, and Australia was forced to look for alternative solutions. Waste export ban Australia has adopted a strategy of taking responsibility for its own waste. Starting in January 2021, it is phasing in bans on the export of different forms of waste. By mid 2024, Australia’s home-grown recycling industry will have to deal with an extra 650,000 tonnes of waste plastic, paper, glass and tyres. “As we cease shipping our waste overseas, the waste and recycling transformation will reshape our domestic waste industry, driving job creation and putting valuable materials back into the economy,” federal environment minister Sussan Ley said in a statement to Reuters. Also read: Today’s PPE kits could be tomorrow’s roads, fuel — CSIR’s plan to tackle Covid plastic surge Trash into treasure The benefits to the environment of boosting recycling rates are well known – less landfill, less plastic in our ocean, reduced need for virgin materials, and lower carbon emissions. The Recycling Modernisation Fund initiative aims to divert more than 10 million tonnes of waste from landfill, part of an overall strategy to reduce the total waste generated per person by 10%, and push Australia’s total resource recovery rate from 58% in 2017 to 80% by 2030. But like many countries, Australia is focusing on the economic benefits of better waste management as well. “This will mean Australia converts more waste into higher valued resources ready for reuse locally by manufacturers and brands in their packaging and products,” Rose Read, CEO of the National Waste and Recycling Industry Council, told Reuters. Green jobs The great potential of the circular economy to create green jobs is being recognized across the world. In the UK, the Waste and Resources Action Programme has launched a six-point plan which it claims could add $90 billion to the economy, and create 500,000 new jobs. Investment in the circular economy forms a significant part of the $2 trillion climate plan that Democratic candidate Joe Biden is taking into November’s US presidential election. And the European Union has put its Green New Deal at the heart of its plans for recovery from the economic shock of COVID-19. The World Economic Forum’s Future of Nature and Business report identifies 15 systemic transitions with annual business opportunities worth $10 billion a year that could create 395 million jobs by 2030. As is the case with Australia’s Recycling Modernisation Fund, a combination of private enterprise and government investment can offer ways to get people back to work by building a more environmentally sustainable economy. This article was originally published in the World Economic Forum. Alex Thornton is senior Writer, Formative Content. Also read: What is environmental racism and why should we care about it

EGA, Abu Dhabi Ports partner to streamline shipping to UAE

Aluminium producer EGA has signed a memorandum of understanding with Abu Dhabi Ports to improve and streamline shipping services from ports in Guinea to the United Arab Emirates. The move could lead to lower shipping costs ahead of the development of EGA's bauxite mine in the African country, set to supply aluminum-smelting operations in UAE. Abu Dhabi Ports operates the Kamsar container quay, built by EGA in Guinea, while Abu Dhabi Ports CEO Mohamed Juma Al Shamisi said both companies stood to gain economically from upgrade projects. BFW 03/06 07:51 *EMIRATES GLOBAL ALUMINIUM SAYS SIGNS MOU WITH ABU DHABI PORTS Emirates Global Aluminium Says It Signs MOU With Abu Dhabi Ports 2018-03-06 08:24:26.600 GMT By Bruce Stanley (Bloomberg) -- Deal with Abu Dhabi Ports could lead to improvements in overseas ports, logistics infrastructure and services EGA uses to load raw materials destined for U.A.E., EGA says in emailed statement. * EGA already works with Abu Dhabi Ports in Guinea; MOU could lead to lower shipping costs for U.A.E.-based aluminum producer: EGA CEO Abdulla Kalban in statement  * NOTE: EGA is developing a bauxite mine in Guinea to supply aluminum smelting operations in U.A.E. * Abu Dhabi Ports is operator of container quay EGA built at Kamsar, Guinea, to unload equipment and materials for bauxite mine  * “Abu Dhabi Ports’ expertise in developing ports and interest in investing internationally, combined with EGA’s demand to use port facilities, should make upgrade projects economically attractive to the benefit of everybody”: Abu Dhabi Ports CEO Mohamed Juma Al Shamisi in statement

http://gulfnews.com/business/sectors/shipping/ega-abu-dhabi-ports-in-deal-for-efficient-shipping-1.2183645

Abu Dhabi: Abu Dhabi Ports will partner with Emirates Global Aluminium to upgrade ports and logistics infrastructure at international ports which EGA uses to load raw materials destined for the UAE. A Memorandum of Understanding in this regard was signed by Capt Mohammad Juma Al Shamsi, Chief Executive Officer of Abu Dhabi Ports, and Abdullah Kalban, Managing Director and Chief Executive Officer of Emirates Global Aluminium (EGA) in Abu Dhabi. The agreement is expected to enable more efficient shipping at international ports and benefit both companies. “EGA already works with Abu Dhabi Ports at Khalifa Port in Abu Dhabi and at Kamsar in the Republic of Guinea. This MoU paves the way for further opportunities through which Abu Dhabi Ports can develop its international business, whilst lowering EGA’s shipping costs through the upgrading of the ports that we use,” Kalban said in a statement. EGA shipped approximately six million tonnes of bulk raw materials such as alumina, coke and pitch from some 20 ports worldwide last year. According to a statement on Tuesday, the two companies cited various bottlenecks at ports ranging from shallow channels that only allow smaller vessels to berth, to manual rather than automatic loading, to limited rail capacity at the port that can reduce the efficiency of shipping.

Brazilian soyabean supply insufficient for China's US replacement

China cannot rely on Brazil to make up any shortfall in soyabean imports if it imposes restrictions on or boycotts US products as part of the simmering trade war between the two nations. The South American country's soyabean harvest takes place earlier than in the US, while a domestic crushing demand of 43 million tonnes leaves only 76 million tonnes for export, 21 million tonnes below than China needs. In addition, Brazil's political instability and infrastructure bottlenecks cannot be resolved in time for China to completely avoid purchasing US soyabean stocks.

http://www.scmp.com/news/china/diplomacy-defence/article/2152109/why-china-cant-count-brazil-fill-soybean-gap-its-trade

Gustavo Oliveira writes that timing, huge demand and structural bottlenecks diminish Brazil’s reliability as a backup soybean supplier to China

Unicredit's £11bn restructuring fix to alleviate bad debt problem

Italy’s largest bank UniCredit is restructuring by divesting 14,000 job roles and raising €11bn in a share sale in a bid to streamline its business. The move has been driven by the political volatility affecting the Italian banking sector, which has also been hit by bad debt and low rates of profitability. UniCredit will make the cuts over the next two years, and is planning to boost its capital ratio to enable a dividend payment to investors by 2019. 3,800 branches will be closed down, with around 11% of the bank’s total staff being divested.

http://uk.businessinsider.com/unicredit-cuts-14000-jobs-and-aims-to-raise-13-billion-in-restructuring-plan-2016-12?r=US&IR=T

The skyline of Porta Nuova's district is seen in Milan, northern Italy March 5, 2015. REUTERS/Stefano Rellandini UniCredit is cutting 14,000 jobs and raising €13 billion (£11 billion) in a record share sale as part of a plan to streamline its business and restructure its balance sheet. The move comes at a pivotal moment for the Italian banking sector, which is weighed down with bad debt and low profitability and buffeted by political instability. The bank, Italy's biggest will make the cuts over two years and will aim to boost its capital ratio – a measure of financial strength – and pay investors a dividend by 2019. The lender plans shut down around a quarter of its 3,800 branches, while the 14,000 job losses represent around 11% of the lender's total staff. Chief executive Jean Pierre Mustier said it was a "pragmatic plan based on conservative assumptions, with tangible and achievable targets," according to a BBC report. The Italian banking crisis is coming to a head after the resignation of former Prime Minister Matteo Renzi last week. Banca Monte dei Paschi, the world's oldest lender and Italy's third-biggest bank, is attempting to raise €5 billion by the end of the year to stay in business. The sector is carrying more than €300 billion in non-performing loans and may ultimately need an injection of around €52 billion, according to Deutsche Bank analyst Paola Sabbione. Renzi resigned after losing a referendum aimed at restructuring the Italian parliament. Mustier told the Financial Times: 'The referendum was a No but it doesn't change our business model. The Monte dei Paschi situation will be solved, and by the year-end. There will be no overhang from Monte dei Paschi." Here is what happened to Unicredit shares on the news:

UK farmer blackmailed for £50,000 Bitcoin payment

A former soldier, Michael Young demanded Lincolnshire farmer David Bowman to pay £50,000 in Bitcoins warning that, he had selectively injected his pumpkins with deadly potassium cyanide. In a threatening message to Mr Bowman, Young wrote, “You will go down in history as the farmer who introduced potassium cyanide into the UK food chain”. Afraid of losing his whole crop, Mr.Bowman reported the incident to the police. The Foods Standards Agency urges David Bowman to destroy £120,000 worth of pumpkins. Later Tests  revealed that, he had injected the pumpkins with only water. Young was sentenced for eight years in jail at Lincoln Crown Court for demanding money and accusing Mr.Bowman of using cheap Eastern European workers.

http://www.dailymail.co.uk/news/article-3249745/Give-50-000-ll-poison-pumpkins-Bitcoin-blackmailer-told-farmer-produces-half-UK-s-supply.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

Young, 53, has been jailed for eight years after admitting blackmail Mr Bowman lost £120,000 in stock even though threat was just a hoax He claimed he had contaminated some of his pumpkins and demanded Bitcoin ransom to spare the rest His farm produces half the UK’s supply of pumpkins. But David Bowman feared his livelihood would be destroyed after he was blackmailed by a former soldier who threatened to poison his entire crop with cyanide. Michael Young, 53, wrote to the farmer, saying he had contaminated some of his pumpkins and would destroy them all if he did not pay £50,000 within seven days. Threat: Pumpkin farmer David Bowman feared he would lose his stock after being blackmailed ‘You are about to become famous for all the wrong reasons,’ he told Mr Bowman, whose family have worked the land in Spalding, Lincolnshire, for five generations. Young asked for payment in Bitcoin – an online currency often used to carry out illicit activities online. Terrified of losing his whole crop, Mr Bowman, 67, reported the incident to police and was told by the Foods Standards Agency to plough the field concerned. In the process, he lost £120,000 of stock. Yet when the pumpkins were tested, it emerged that they had merely been injected with water. Stuart Lody, prosecuting, told Lincoln Crown Court that Young launched his campaign of harassment after accusing Mr Bowman of using cheap Eastern European workers. Mr Lody said: ‘The defendant sent photographs of pumpkins being injected with a substance and articles about potassium cyanide obtained from the internet. ‘A letter said that the pumpkin crop had been selectively poisoned and warned Mr Bowman not to attempt to harvest or sell a single pumpkin until the blackmailer’s demands were fully met.’ Terror: Mr Bowman had to destroy £120,000 of pumpkins because he thought they were contaminated In a threatening message to Mr Bowman, who produces 2.5million pumpkins a year, Young wrote: ‘You will go down in history as the farmer who introduced potassium cyanide into the UK food chain.’ Young initially told police the threats were the work of Eastern Europeans who had access to his computer. Mr Bowman, who has undergone a tripe heart bypass, told the court: ‘I’ve had sleepless nights worrying how this callous and malicious crime will impact my business. I’m appalled and sickened by the slur that I exploit migrant workers for my own gain. ‘I pay them a good wage and many return each year for the harvest.’ Young, who admitted blackmail and possession of drugs with intent to supply, was jailed for eight years. Michael Cramner-Brown, defending, said his client knew he had ‘done wrong’ and was in ‘dire financial straits’ at the time of the offence. He added: ‘He is extremely sorry. There was, in fact, no actual contamination of any of the crop. Water was the only matter that had been injected.’

Square looks to be ramping up in Europe

Last week, Square posted 2 job adverts in the UK, and 1 in Ireland on Indeed.com. A further move into the European market, this comes after the company’s earlier registration with Companies House as Squareup Europe Limited earlier this summer, its acquisition of a former UK Commercial Secretary to the Treasury to its board of directors and its new acceptance of payments in sterling.

http://uk.businessinsider.com/square-looks-to-be-ramping-up-in-europe-2016-8?utm_source=feedburner&utm_medium=referral?r=US&IR=T

BII This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. Square appears to be moving closer to its first push into Europe. Reuters reported that the company posted three European job postings — two in the UK and one in Ireland — on jobs site Indeed.com last week. Though the company declined to comment on the postings to Reuters, it’s likely that they indicate further preparations to launch in the UK and, down the line, perhaps Ireland. Earlier this summer, Square registered as Squareup Europe Ltd with Companies House, the body that registers commercial enterprises in the UK. This is the latest of several signs that the firm is looking to expand into Europe. In addition to registering with Companies House, Square has been working to learn more about the UK market. It added Lord Paul Deighton, a previous UK Commercial Secretary to the Treasury, to its board of directors in May. And though the firm hasn’t begun distributing card readers in these markets, Square Register, the application that merchants use to manage their business, recently began accepting payments in pounds. Strong small-business growth in the UK and Ireland could set Square up for success. However, it must still clear at least one technical hurdle before it can capitalize on this opportunity: Square needs to provide readers that accept chip-and-PIN in order to convert users. Until relatively recently, the firm provided only magnetic-stripe card readers, which would be ineffective in European markets where EMV has been long-dominant. But the firm’s EMV readers support chip-and-signature rather than chip-and-PIN, the more popular method in the UK, which will be required to attract UK-based merchants. That’s especially true because the firm faces strong competition from readers like PayPal Here UK and iZettle, which do offer PIN-based chip card readers. Until relatively recently, the firm provided only magnetic-stripe card readers, which would be ineffective in European markets where EMV has been long-dominant. But the firm’s EMV readers support chip-and-signature rather than chip-and-PIN, the more popular method in the UK, which will be required to attract UK-based merchants. That’s especially true because the firm faces strong competition from readers like PayPal Here UK and iZettle, which do offer PIN-based chip card readers. But if equipped with the correct hardware and value proposition, the UK and Ireland could take off. Square draws most of its business from smaller merchants — 58% of the firm’s merchants in Q2 2015 processed less than $125,000 in annualized sales. Square could attempt to capture some of that same market in the UK, where over 99% of sellers are as small or midsize businesses, according to a UK government study, and POS terminal penetration is growing at 8% per year. And an Irish office could be appealing to Square because of a strong and expanding tech presence in the country, according to Reuters. Thanks to companies such as Square, mobile payments are becoming more popular, but they still face some high barriers, such as consumers' continued loyalty to traditional payment methods and fragmented acceptance among merchants. But as loyalty programs are integrated and more consumers rely on their mobile wallets for other features like in-app payments, adoption and usage will surge over the next few years. Evan Bakker, research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on mobile payments that forecasts the growth of in-store mobile payments in the U.S., analyzes the performance of major mobile wallets like Apple Pay, Android Pay, and Samsung Pay, and addresses the barriers holding mobile payments back as well as the benefits that will propel adoption. Here are some key takeaways from the report: In our latest US in-store mobile payments forecast, we find that volume will reach $75 billion this year. We expect volume to pick up significantly by 2020, reaching $503 billion. This reflects a compound annual growth rate (CAGR) of 80% between 2015 and 2020. Consumer interest is the primary barrier to mobile payments adoption. Surveys indicate that the issue is less the mobile wallet itself and more that people remain loyal to traditional payment methods and show little enthusiasm for picking up new habits. Integrated loyalty programs and other add-on features will be key to mobile wallets taking off. Consumers are showing interest in wallets with integrated loyalty programs. Other potential add-ons, like in-app, in-browser, and P2P payments, will also start fueling adoption. This strategy has been proved successful in China with platforms like WeChat and Alipay. In full, the report: Forecasts the growth of US in-store mobile payments volume and users through 2020. Measures mobile wallet user engagement by forecasting mobile payments' share of their annual retail spending. Reviews the performance of major mobile wallets like Apple Pay and Samsung Pay. Addresses the key barriers that are preventing mobile in-store payments from taking off. Identifies the growth drivers that will ultimately carve a path for mainstream adoption. To get your copy of this invaluable guide, choose one of these options: START A MEMBERSHIP Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of how mobile payments are rapidly evolving.

President of Indonesia calls for reduced reliance on fossil fuels

The President of Indonesia, Joko Widodo, has called for divestment in fossil-based fuels, replacing them with clean renewable energy sources and has praising the countries large untapped geothermal reserves. According to Widodo, Indonesia has 40% of the worlds geothermal potential, which has not been exploited as the country remains reliant heavily on fossil fuels.

http://www.antaranews.com/en/news/100064/president-urges-to-reduce-dependence-on-fossil-fuels

President urges to reduce dependence on fossil fuels Jakarta (ANTARA News) - President Joko Widodo has called for reducing the use of fossil-based fuels and replacing them with renewable energy sources. Teten Masduki, a member of the presidential communication team, said in a press statement received here on Wednesday that the president believes Indonesia has huge geothermal reserves, adding that the country has 40 percent of the worlds geothermal potential. The energy sources are found from Sumatra, Java, Nusa Tenggara, and Maluku to Papua. Unfortunately, the energy sources have not been exploited optimally, and Indonesia remains dependent on fossil fuels, he pointed out. "I hope we can immediately put an end to our dependency on fossil fuels by taking concrete steps in utilizing geothermal energy sources," he noted in a speech at the opening of the New and Renewable Energy and Geothermal Convention and Exhibition here on Wednesday. He affirmed that the use of fossil fuels in the country is still high and reaches 95 percent of the nations energy consumption comprising 45 percent oil, 24 percent gas, and 24 percent coal, while the use of renewable sources of energy only constitute around five percent. "As a nation keen to achieve self-sufficiency in energy, we must not rely on fossil fuels. The fact now is that Indonesia has become a net importer of oils, while in due course of time, fossil fuel reserves will become exhausted," he remarked. Indonesia actually has huge and abundant sources of new and renewable energy that had yet to be optimally exploited for development purposes. In view of this, the diversification of energy sources needs to be carried out immediately through facilitating the development of new and renewable energy sources. The president has expressed his commitment to giving special attention to programs on the development of new and renewable sources of energy, with a view to liberate the country from its dependence on fossil fuels that would capitalize on the abundant sustainable natural resources including biofuel, biomass, geothermal, water, wind, sun, and sea waves. "One of the new and renewable energy sources that we need to exploit is geothermal energy, which is abundant, clean, and environment-friendly. The national energy policy has set a target to increase the use of this energy to 23 percent by 2025," he noted. President Widodo has conducted the groundbreaking of the Ulubelu Unit III and IV geothermal power plant projects and has recently inaugurated the operations of the Kamojang V geothermal power plant. The step will be followed up by the use of geothermal energy in other regions in the country. "If the geothermal energy potential is managed and exploited well, I am convinced that we can replace fuel oils whose supply has increasingly depleted," the president emphasized. In view of this, he hoped all parties including the government, professionals, academicians, and new and renewable energy observers would be able to work in tandem to achieve breakthroughs in the fields of regulation and science. To demonstrate the governments commitment, the president has urged the Ministry of Energy and Mineral Resources to continue various progressive policies in the fields of tariff, licensing, and other facilities to attract investment in the development of new and renewable energy sources and energy conservation. President Widodo has challenged businesses operating in the field of new and renewable energy to provide inputs to the government regarding policies that need to be immediately produced to support the development of new and renewable energy sources and energy conservation. He stated that people across the country have been awaiting access to affordable electricity. The people in border regions and the outermost islands are keen to have access to electricity in their homes, he added.(*)

Burger & Lobster introduces gender-neutral cocktails

Burger & Lobster has introduced five gender neutral, colourless cocktails at two London locations after research commissioned by the chain showed that 21% of people in the UK are uncomfortable drinking cocktails more suitable for the opposite gender. The menu at the Bread Street location refers to the drinks by names including White Cosmopolitan, Margarita Twist and White Negroni, whereas the Soho restaurant simply numbers them one through five.

https://news.yahoo.com/to-remove-stereotypes-restaurant-chain-introduces-genderneutral-cocktails-000903423.html

Burger & Lobster rolls out "gender-neutral" cocktails that are colorless and nameless. (Photo: Burger & Lobster) Five new cocktails offered in two locations of an international restaurant chain don't just pack an alcoholic punch—they're attempting to fight gender stereotypes as well. Burger & Lobster announced on Monday that two London locations, Burger & Lobster Soho and Burger & Lobster Bread Street, had rolled out a new drink menu featuring five colorless cocktails "in a bid to remove stereotypes surrounding drinks and allowing our customers to focus on what really matters when choosing a delicious drink: taste." At the Bread Street location, the drinks were given the names “Mojito Twist,” “White Cosmopolitan,” “Margarita Twist,” “White Negroni,” and “Piña Colada Twist," whereas, at the Soho location, they are simply numbered one through five. The restaurant's social experiment yielded interesting results. According to a press release from the company, at the Soho location, No. 1, the "Mojito Twist," was the most popular drink "across the board." However, at Bread Street, results showed that 31 percent of male customers would not choose the Cosmopolitan or Pina Colada because their names were too "feminine." Female customers were also affected by the names, with 11 percent feeling "too embarrassed" to order more "masculine" sounding drinks, like the Negroni. External research, commissioned by Burger & Lobster showed that 21 percent of people in the UK do not feel comfortable drinking cocktails that may be "more suitable for the opposite gender." While the new menu was meant to "encourage more people to feel comfortable in what they are drinking," Twitter users, naturally, had a lot to say about the "gender-neutral" drinks. It’s all getting a bit much now❄️https://t.co/X2uAtUS2UA — Brétt Mendöza (@BrettMendoza) November 10, 2019 in a shocking turn of events, I'm so glad I can now order cocktails that were meant for men! is it also okay if I order a beer now? https://t.co/DUQq2YEqZh — marty 🥰 (@itsmartyxo) November 11, 2019 Is this a joke? Can’t drink a cocktail as it’s “better suited to the opposite sex”?! 🤦🏼‍♀️🤦🏼‍♀️🤦🏼‍♀️ https://t.co/3CAteHuRE9 — Rachel Coombs (@Rachel_Coombs) November 10, 2019 stupid me. hadn't realised cocktails were gender specific.https://t.co/BAVeNKmgGl — hammy. ⛄ (@iamhamesh) November 10, 2019 Cocktails are already gender neutral. Take your scotch and grenadine with am umbrella like a champ. pic.twitter.com/CqObp5a0Qq — 🦇hallow-iquey✨👻 (@Iquey) November 10, 2019 Of course, there were some vocal supporters of the new menu. Why wasn't anyone doing this research 20 years ago so I could've had my Zima, Mike's, and Smirnoff Ice in peace? https://t.co/ajYUmRMr4a #BulliedIntoBeer — James Duke (@hillbillydew) November 11, 2019 Not as stupid as I thought it was going to be. Remove the frills or the macho image to make the drinks more accessible. https://t.co/35LRtaNmPK — Quaffable Reading (@QuaffableRdg) November 11, 2019 Burger & Lobster will roll out the new cocktail menu to all of its London restaurants next year. Read more from Yahoo Lifestyle: Follow us on Instagram, Facebook and Twitter for nonstop inspiration delivered fresh to your feed, every day.

Maersk-IBM Blockchain JV Secures First Freight Forwarder

Blockchain is a secure, immutable and tamper-resistant ledger that can be used to track shipments, documentation and payment transactions. It can connect parties in the supply chain, giving them access to information and real-time visibility based on their level of permission. Documentation and administration are estimated to be one-fifth of the $1.8 trillion spent annually to move goods across borders.

https://www.porttechnology.org/news/first_freight_forwarder_joins_maersk_ibm_blockchain_project/

Agility has become the first freight forwarder to collaborate on a Maersk-IBM blockchain solution that will manage and track container shipments using a distributed ledger. The publicly traded logistics company, which has $4 billion in revenue and more than 22,000 employees in over 500 offices across 100 countries, will identify events associated with individual shipments and share and receive the information through blockchain technology developed by IBM and Maersk. Agility’s goal is to reduce costs and increase shipping efficiency by integrating information about shipments onto a secure platform accessible to shippers, carriers, freight forwarders and others in the supply chain. Essa Al-Saleh, CEO of Agility Global Integrated Logistics, said: “Blockchain technology is going to make shipping cheaper, safer and more reliable. “As early adopters, companies like Agility can help Maersk and IBM understand the needs of shippers and develop standards that will make trade more efficient. “We can help customers understand how to use blockchain to improve shipment visibility, eliminate paperwork, reduce errors, and shorten transit and clearance times.” Blockchain, a secure, immutable and tamper-resistant ledger that can be used to track shipments, documentation and payment transactions, can connect parties in the supply chain, giving them access to information and real-time visibility based on their level of permission. IBM and Maersk Demo: Cross-Border Supply Chain Solution on Blockchain: Documentation and administration are estimated to be one-fifth of the $1.8 trillion spent annually to move goods across borders. In addition to showing the location of containers in transit, blockchain can show the status of customs documents, bills of lading and other documentation. It can improve workflow, cut processing costs and enhance visibility by integrating shipping processes and partners. Customs and border authorities can use the technology to improve the information available for risk analysis, leading to increased safety and security as well as greater efficiency in border inspection clearance. Al-Saleh concluded: “For Agility, it’s important to be involved early in blockchain and to work with forward-thinking companies like Maersk and IBM. “Together, we have a lot to learn and share in order to bring the benefits of this technology to shippers and consumers as quickly as possible.”

Putting Carbon Back In Soil Could Help Fight Against Climate Change, Researcher Argues

According to research by the International Soil Resource Center, human agriculture has caused the loss of 130 billion tons of carbon from soils globally. Soil carbon can be lost when the carbon is exposed to the air, allowing microbes to break it down. Ploughing is a major culprit, but Jackson thinks with the proper incentives, soil carbon could be restored.“A really important role for soils in climate change is to restore carbon that’s been lost through ploughing and other practices," he said. "One thing we can do that is already done in some places is to provide incentives to take land out of ploughing. Western Canada, for example, has had programs to actively pay farmers to put carbon back into the soil through multi-cropping, nitrogen-fixers and fallow programs. So there are places in the world where these incentives are already happening.”The benefits of restoring soil carbon don’t just extend to fighting global warming. Soils high in organic carbon are better for agriculture. They need less irrigation and fertilization because they hold more water, nitrogen and phosphorus. And they seem to prevent erosion because their granular structure keeps soil from being blown away.“It’s not just about restoring carbon as an element. Restore soil carbon and we gain multiple benefits,” Jackson said.

https://www.upr.org/post/putting-carbon-back-soil-could-help-fight-against-climate-change-researcher-argues

Soil is the largest terrestrial carbon pool, accounting for over three times more carbon than all plants on earth. According to a researcher who specializes in environmental issues, this could make it a key tool in the fight against climate change. “The soil stores three or four times as much carbon as the atmosphere contains,” said Dr. Rob Jackson, a professor at Stanford University who recently lectured at Utah State University. “The things we do to alter our soils, and especially to lose organic matter through agricultural practices, have released a lot of carbon to the atmosphere. They also provide an opportunity to restore that carbon.” According to research by the International Soil Resource Center, human agriculture has caused the loss of 130 billion tons of carbon from soils globally. Soil carbon can be lost when the carbon is exposed to the air, allowing microbes to break it down. Ploughing is a major culprit, but Jackson thinks with the proper incentives, soil carbon could be restored. “A really important role for soils in climate change is to restore carbon that’s been lost through ploughing and other practices," he said. "One thing we can do that is already done in some places is to provide incentives to take land out of ploughing. Western Canada, for example, has had programs to actively pay farmers to put carbon back into the soil through multi-cropping, nitrogen-fixers and fallow programs. So there are places in the world where these incentives are already happening.” The benefits of restoring soil carbon don’t just extend to fighting global warming. Soils high in organic carbon are better for agriculture. They need less irrigation and fertilization because they hold more water, nitrogen and phosphorus. And they seem to prevent erosion because their granular structure keeps soil from being blown away. “It’s not just about restoring carbon as an element. Restore soil carbon and we gain multiple benefits,” Jackson said.

World spends 5 times more on responding to natural risk than reducing them

The world spends “less than half of one per cent” of its $135bn global aid budget on disaster risk reduction (DRR). According to Robert Glasser, the UN’s head of disaster planning, the international community is already “falling short” in its attempts to cope with humanitarian disasters, such as the conflict in Syria, while climate change would exacerbate the situation. Glasser pointed out the threats from drought in the Middle East and Africa, and said: “We’ll see many more examples of cascading crises, where one event triggers another event, which triggers another event”.

http://www.theguardian.com/global-development/2016/may/03/the-growing-risk-of-disasters-and-remembering-the-nepal-earthquake

The world spends more than five times as much money on responding to natural disasters as it does on reducing the risk of them. The UN’s head of disaster planning, Robert Glasser, has called for immediate action on mitigating the risks posed by climate change, droughts and the humanitarian crises that follow. Which country is most at risk from natural disasters? Explore our analysis of the world risk index, which measures countries by the frequency of natural disasters as well as how well-equipped they are to recover. Plus browse our content marking the first anniversary of the Nepal earthquake. Elsewhere on the site ‘It’s a disaster’: children bear brunt of southern Africa’s devastating drought Change beckons for Vila Autódromo, the favela that got in the Olympics’ way UN bases in South Sudan are ‘a blessing and a curse’ Malaria menace: when insecticide-resistant mosquitoes bite back Married at 14, abandoned by 15: the forgotten girls of Dhaka Opinion Over the past five years, global immunisation rates have increased by only about 1%, falling short of global targets. Amy Whalley, of Results UK, calls for an effective immunisation programme, which she argues could help developing health systems. It is time for Liberia to ban female genital mutilation, following similar bans in Nigeria and the Gambia, writes Equality Now’s Mary Wandia. Although Liberian president Ellen Johnson-Sirleaf called on other countries to “muster the courage to ban the irreparable harm inflicted by genital mutilation”, she is yet to make this a reality in her own country. Multimedia In Colombia, women who survived years of rape and violence during the country’s conflict have built their own haven. The City of Women houses almost 500 people and has its own school and shops. Kary Stewart visited the settlement for our latest podcast. You can also read Sibylla Brodzinsky’s report. More than 250,000 people have fled Burundi since it descended into violence one year ago. See photographs from Nyarugusu, on the Tanzanian border, which has become the world’s third largest refugee settlement. Students Speak As the UN prepares to choose a new secretary general, we want to know how you would approach the top job. Submit a response of 250 words or fewer, telling us what your first act in office would be, and we’ll publish the best ones. What you said On The construction industry must step up on human rights, Silvia Mera wrote: We need companies to embrace disclosure (and upcoming regulations – ie the Modern Slavery Act – are slowly making it more and more compelling) which means 1) share if they’re taking action and 2) share which challenges they are facing when addressing this problem and 3) find solutions as an industry! Naming and shaming is not the way if we want companies to come forward rather than stepping back … These are businesses with resources to fix the problem once they have understood the issue, the risks and are willing to put solutions in place, and believe me, most do, as they do not want to shut down or lose competitiveness. How can they fix the problem if they just go out of business? For a business that closes down another one will open and potentially thrive on abuse of human rights. And abused workers will never be freed. Highlight from the blogosphere The world humanitarian summit will have little hope of addressing the biggest crises facing the world if governments refuse to tackle the root causes, argues Ed Cairns on From Poverty to Power. And finally … Poverty matters will return in two weeks with another roundup of the latest news and comment. In the meantime, keep up to date on the Global development website. Follow @gdndevelopment and the team –@swajones, @LizFordGuardian, @clarnic and @CarlaOkai – on Twitter, and join Guardian Global development on Facebook.

Been in contact with COVID-19? - China's government has an app for that!

The Chinese government has released an app designed to help citizens check whether they have been exposed to COVID-19. Users register a phone number, name and ID to check whether they have been in close contact with someone infected with coronavirus. The tool will also enable the government to collect data and be used to help educate citizens on what action they should take if they have been in contact with the virus.

https://www.mobihealthnews.com/news/chinese-government-releases-public-app-gauge-potential-coronavirus-exposures

As cases of the COVID-19 (the novel coronavirus) continue to spread across China and beyond, the Chinese government has released a new app intended to help citizens check whether they came into contact with the virus. App users are asked to register a phone number, name and ID number in or to see if they were in contact with someone infected, according to Chinese state media outlet Xinhua, which first reported the story. Users are able to get the app by scanning a QR code through platforms like WeChat, Alipay and QQ. The app will then give them information on whether they came into “close contact” with the disease, which the government defines as being in a close distance to someone with no protection who has a confirmed case or a suspected case. The tool will act as a way of collecting data as well as to educate citizens on what to do if they have been in close contact with the virus — which is to stay at home and get advice from health authorities. The latest tool, which was released on Saturday, was developed by the General Office of State Council, the National Health Commission and China Electronics Technology Group Corporation (CETC), according to Xinhua. WHY IT MATTERS Since COVID-19 was first identified in Wuhan China in late December, the number of cases has been on the rise. As of yesterday the World Health Organization has reported 40,554 cases of the virus. Of those reported cases, 40,325 are in China. The death toll is also rising with over 900 people in China having died from the disease. China’s government has kicked into action. Its efforts include building two new hospitals in Wuhan to handle the crisis and the mass spraying of disinfectant on city streets in attempts to prevent the spread. It has also made regional health leadership changes recently. Chinese state media reported that Zhang Jin, party secretary of the Health Commission of Hubei Province, where the novel coronavirus was first identified, and Liu Yingzi, director of the Hubei Provincial Health Commission, have been fired. The release of the new app stands alongside these efforts and, ideally, could bring timely exposure information to a greater number of those at risk of infection. THE LARGER TREND As the COVID-19 continues to spread innovators are looking to use tech to help track and elevate the problem. For example, HealthMap, a digital epidemiology tool developed by a team at Boston Children’s Hospital, has been actively tracking the disease spread through social media networks, chatrooms and other online crowdsourcing efforts. It has recently joined forces with chatbot Buoy Health on a new tool that lets patients check their symptoms at home. HealthMap gives Buoy data about what is happening the region, and Buoy can provide HealthMap info on trends happening in the patient’s home. In January VivaLNK, a Santa Clara, California-based connected health startup, announced that Shanghai Public Health Clinical Center (SPHCC) is using the startup’s continuous temperature sensor to curb the spread of coronavirus in China. Instead of physically checking the patient temperature every few hours with a mercury thermometer, temperatures can be monitored remotely and automatically, thereby limiting patient-to-caregiver contact. Also in late January Singapore-based Veredus Laboratories, maker of tech-enabled molecular diagnostic solutions, announced the development of VereCoV detection kit, a portable Lab-on-Chip application capable of detecting the COVID-19, as well as other influenzas.

Existing infrastructure is key in deciding

In order to guarantee an organisation's long-term success with ed tech devices or platforms, a crucial first step is to analyse existing infrastructure, writes Peter West, director of e-learning at Australia's Saint Stephen’s College, in eSchoolNews. The first point to consider is whether or not a solid, reliable, and well-designed network exists, as well as a "fast, stable, campus wide wireless network." These considerations must be the first priority before any purchases are made, to avoid costly mistakes of purchases that are incompatible with existing systems.

http://www.eschoolnews.com/2016/02/03/this-is-how-your-infrastructure-should-look-before-your-next-tech-rollout/

Follow these guidelines to create a technology infrastructure that support teachers and students Most educational organizations want the classroom to change; to improve teaching and learning by leveraging technology. The terms blended and flipped learning are touted extensively as useful educational goals. However, to increase the probability of long term success and to reduce teacher/instructor frustration, organizations need to ensure that the broader fundamentals are in place before asking teachers to change. This is true whether the organization is a large university or school district, an eLearning business, or a small school of a few hundred students. (Note that I am not talking about the success of the “lone experimenters;” the innovators and early adopters who will implement change no matter what the environment is like. I am talking about organization wide long term success.) Fundamentals fall into a number of categories. I will consider one (infrastructure) in this article and others in companion articles. If teachers walk into a lesson and the technology regularly fails, even for just a few minutes, they lose confidence. They become frustrated and lose commitment (and who could blame them?). For long term change to occur, the technology behind the scenes must be like the electricity system in a modern country – it must “just work” – all the time and every time. It must be invisible. If it fails, it must be able to be fixed quickly and painlessly. Infrastructure requirements Thus, there are some requirements for change in the classroom to begin. This is not an exhaustive list, but it contains some major points. While reading these points, rate your organization on a scale of 1 (Poor) to 5 (Excellent). 1. A solid, reliable, well designed network a. The network (servers, switches, operating systems) must be fast and reliable. They must work virtually all the time. Logons should be fast and easy. Accessing systems (network drives, online resources, etc.) must be fast and efficient. b. Preferably there should be SSO (Single Sign On) for most resources. Staff and students should have one user name and password that works across all major systems, not a different password for each system. If a password is changed, the change should flow through to all systems. 2. A fast, stable, campus wide wireless network a. Wireless access is a key part of many modern organizations. The wireless network must “just work”. It should be easy to access, reliable and fast. It should saturate the entire campus, with limited or no areas with weak signal. 3. A fast and reliable internet connection a. Access to the internet must be fast and reliable. It needs to be of sufficient speed even when it is being accessed by most students and teachers. b. It must also provide fast and reliable external access to teaching and learning resources that are on campus. Thus, the connection speed into the organization and the connection speed out of the organization both need to be fast. 4. A robust and feature rich LMS (Learning Management System) a. Modern systems have moved beyond the old concept of a LMS, and are really much more than they were 10 or 15 years ago. I prefer to call the ones that have evolved Online Learning Environments (OLEs). The focus is on the learning, not just managing the learners. b. The system being used must fit the educational needs of the organization now and in the coming years. Staff need to know that it will grow with them to provide capabilities that they may not have thought of yet. (I know of organizations that have had four LMS in a decade, hoping each time that the newest one will be “right”. I know of schools who invested in a system that didn’t suit their needs and then wanted staff to change to “something better” two years later – after staff had invested time and energy learning the system and creating resources for use on the system.) Teachers deserve better. c. Research, understanding and planning are vital. These aspects need to be done by eLearning staff; staff who understand technology and teaching and learning. This is not an IT decision. The IT department is important to ensure that the technical aspects are appropriate, but the LMS is a tool to enhance learning, not IT. 5. Reliable and suitable devices (laptop computers) for staff a. If we want staff to embrace technology to enhance learning and teaching, we need to provide them with devices that empower them. The devices need to be powerful enough to do what needs to be done, and reliable enough that they do not frustrate staff. b. The devices also need to align with the educational goals of the organization. For example, my school provided Surface Pro 3 devices to all staff as the educational goals required the power of a full laptop computer, the form factor of a tablet and the advantages of “real” granular stylus enabling digital ink and digital paper (as compared to the rather primitive touch capabilities provided by some tablet devices). c. It is then a matter of budgeting, and this can be difficult. However, it is a barrier that must be overcome. Money must be found to provide devices to staff, and then money must be found to provide enough professional development for staff to use the devices effectively. 6. A friendly, supportive, efficient IT support team. There are several important factors here. a. The team must be friendly and supportive. They must treat each person with respect and be genuinely interested in helping to solve the current problem, even if they have seen the same problem by the same person a few times. The aloof IT support person who treats the teacher or student as lacking knowledge or being an inconvenience has no place in an organization that is moving forward. Staff and students must feel comfortable when they ask for support. b. They must be experts in all aspects of the technology within the organization, or must be able to source solutions quickly. Reporting a problem and having it fixed a week later, with little or no communication in between, just doesn’t work. c. Is it possible to have a “dream team” with all of the skills and the appropriate attitude? The short answer is yes, and if you are lucky enough to have one, ensure that they know that they are appreciated. An organization with everything in place, ready to support change in the classroom, would score 5 in each of these areas. The resulting graph would look like the one below. However, an organization that wasn’t prepared as well may have a graph that looks like the next one. This organization is not ready to implement technology enhanced learning. The leadership of the organization needs to work to get the scores closer to a 5, making the graph larger and smoother. This will result in a greater probability of success. What does the graph for your organization look like? Creating change in teaching and learning doesn’t happen only in the classroom. It requires the background infrastructure to be robust, reliable and suitable for the task. However, it is only when this environment is appropriate that educators at the coalface can successfully implement change.

UK MPs call for climate conditions on airline bailouts

Bailouts to help UK airlines deal with the economic impact of the Covid-19 pandemic should be linked to agreements to reduce emissions, according to a cross-party group of MPs in the country. The 20 MPs from six different parties, including the ruling Conservatives, have written to Chancellor Rishi Sunak, urging him to extend special loans and grants to the sector in order to protect jobs. However, they also stipulated that the bailout should be linked to strict commitments from companies to refund customers whose plans have been disrupted, to abandon dividends and to increase efforts to tackle climate change.

https://inews.co.uk/news/coronavirus-latest-airlines-cut-co2-emissions-bailout-mps-chancellor-2550284

British airlines should be offered a coronavirus bailout in exchange for agreeing to slash carbon emissions in years to come, a cross-party group of MPs has urged the Government. Aviation bosses have claimed the sector risks collapsing altogether thanks to the Covid-19 pandemic, with passenger numbers down to near zero and travel restrictions likely to continue around the world for months at least. Virgin Atlantic has led calls for urgent financial support from the Treasury, warning it could go out of business without an emergency loan. In a letter to Rishi Sunak, 20 MPs from six different parties including the Conservatives called on the Chancellor to guarantee the future of troubled airlines by extending special loans and grants to the sector in order to protect thousands of jobs. But they added the bailout should be tied to strict commitments from the affected companies to offer proper refunds to customers whose travel plans have fallen through, scrap dividends to taxpayers and step up their efforts to tackle climate change. ‘Do more’ The letter said: “To ensure that all travel companies do more to tackle the climate crisis, they must be obliged to follow in the footsteps of many in the industry that have implemented ambitious carbon offsetting schemes. “Airlines, airports and travel operators are one of the biggest single contributors to global emissions and they must be made to do more. If public money is used to save them, they must be required by law to do more to tackle climate change.” Liberal Democrat MP Sarah Olney, who drew up the letter, told i: “The Government must urgently resolve the gaps in their plans and come forward with a bespoke package to airlines and travel operators to stop job losses. But support should come at a price. “Airlines, airports and travel operators are one of the biggest single contributors to global emissions and they must be made to do more to tackle climate change.” Bespoke support The Treasury has signalled that it is more likely to offer “bespoke support” to individual companies rather than bailing out the industry as a whole, to avoid funnelling taxpayer funds to firms which risked failing even before the Covid-19 crisis. A spokesman said: “The aviation sector is important to the UK economy and can draw upon the unprecedented package of measures announced by the Government – including schemes to raise capital, flexibilities with tax bills, and financial support for employees. “We are working with the sector and will consider the situation of individual firms, whilst balancing our commitment to our climate change targets, including reaching net zero by 2050.” UK Aviation, the industry’s representative body, is likely to resist any calls to tie state funding to future commitments. In a statement, the group said: “No other sector – transport or otherwise – has been asked to attach conditions to any economic support package to deal with the devastating impacts of Covid-19, and if we want our economy to grow once we enter the restart and recovery period we will need our aviation sector more than ever.” It added that airlines had already laid out a plan to reach net zero emissions by 2050.

TalkTalk TalkTalk pledges to keep the UK connected throughout the covid-19 crisis

TalkTalk has written an open letter to the UK public, published in several national papers, pledging to do all it can to ensure the country stays connected during the covid-19 lockdown. The telco also issued guidelines on how customers can get the most out of their internet service as demand increases.

https://www.talktalkgroup.com/article/talktalkgroup/2020/keep-britain-connected

TalkTalk makes a promise alongside other industry leaders to keep the country connected during these unprecedented times. Top tips such as where to place your router and how to avoid interference will help consumers and businesses get the most out of their connectivity. Urging customers to use landline or wifi calling instead of mobile networks to optimise connection for all. TalkTalk has today signed a joint-industry letter to the nation making a firm commitment to do all it can, alongside the whole sector, to keep the country connected during the coronavirus outbreak. The letter, published in most national newspapers*, outlines the steps being taken to ensure everyone can rely on their broadband and phones, whether it’s for work, play or staying in touch with family and friends. While it’s a difficult time for many, here are some top tips to help all customers get the most out their internet: Using the master socket - The router should be plugged into the master socket, not an extension socket. It's the white plastic square built into the wall and can usually be found in the hallway or near the front door. It's bigger than any other socket in the house. - The router should be plugged into the master socket, not an extension socket. It's the white plastic square built into the wall and can usually be found in the hallway or near the front door. It's bigger than any other socket in the house. Location, location, location - Ideally, a router should be upright when you’re using the Internet. It should be on a table or shelf – never on the floor or in a cupboard - and make sure it’s not blocked by any furniture. - Ideally, a router should be upright when you’re using the Internet. It should be on a table or shelf – never on the floor or in a cupboard - and make sure it’s not blocked by any furniture. Reduce signal interference - Electrical appliances like microwaves and cordless phones can disrupt Wi-Fi signals, so it’s best to keep the router away from them if possible. Staying close to the router when using Wi-Fi will also help. - Electrical appliances like microwaves and cordless phones can disrupt Wi-Fi signals, so it’s best to keep the router away from them if possible. Staying close to the router when using Wi-Fi will also help. Make the right call - Customers should consider using a fixed line to make calls or apps such as WhatsApp, FaceTime or Skype if using a mobile. Tristia Harrison, Chief Executive of TalkTalk said: “With more and more people relying on home-based connectivity, there are simple things we can all do to keep the network running so that Britain can stay connected. Whether it’s using landline or WiFi calls instead of mobile, or keeping an eye on online help services, we can all do our bit. “TalkTalk stands together with the whole of the industry to say thank you to our thousands of engineers and technicians working around the clock to keep Britain connected, and to thank you for your patience if there are any bumps along the way. Together we are doing all we can so that you can stay connected.” Notes to Editors About TalkTalk Group TalkTalk is the UK’s leading value for money connectivity provider. We believe that simple, affordable, reliable and fair connectivity should be available to everyone. Since entering the market in the early 2000s, we have a proud history as an innovative challenger brand. Today, we provide landline, fibre, broadband, TV and mobile services to over four million customers. We operate Britain’s biggest unbundled broadband network, covering 96% of the population, supplying services to consumers through the TalkTalk brand, to businesses through TalkTalk Business, and by wholesaling to resellers. Advert * Advert placed in The Times, The Sun, Daily Telegraph, Guardian, Daily Star, i, Daily Mail Helping the country stay connected Together, our businesses provide telecoms services to the entire country. In these unprecedented times we recognise that our connectivity has never been more vital as we connect public services, help people to work, learn, stay in touch with family and friends and be entertained. We know the responsibility that rests on our shoulders. We’re confident that our networks are up to this important role, and we are working tirelessly to ensure that the UK remains connected. But our networks can’t run themselves. It requires tens of thousands of people to work around the clock to fix problems, monitor performance and answer customer calls and queries. Without them, our services would grind to a halt. So while we’re confident our systems are robust, we also ask for your understanding. As usage increases in the coming weeks and months, it is likely to take a little longer for queries to be answered and issues to be resolved. This doesn’t mean that we won’t fix problems or help our customers; it just means that it might take us a bit more time as we do everything we can to keep the UK connected. To help you get the most out of your home and mobile connections, no matter who your provider is, we’d like to share some top tips to help you fix some of the most common issues: Make sure your router isn’t hidden away or on the floor and is kept away from other electronics – these can interfere with WiFi signals Restart your router if problems persist and regularly reconnect devices like your phone, tablet and laptop to WiFi Consider making calls on your mobile over WiFi using popular apps such as WhatsApp, FaceTime, Skype and Facebook Messenger or use a fixed line Try turning your phone off and on again to refresh your network connection or toggle your flight mode on and off Check your provider’s website for specific tips and support (search: provider name + “help”). If you’re having mobile signal problems, check for any issues in your area using your provider’s online status checker or mobile app Get further advice on maximising your broadband and mobile connections from Ofcom by searching “Ofcom Stay Connected” Please stay safe and at home whenever you can. We will keep working together to keep you all connected and tackle whatever comes our way.

PayKey raises $6m for P2P social network platform

Israeli start-up PayKey has secured $6m of series A funding from firms including Santander InnoVentures and MasterCard and Digital Lenders Ventures. PayKey has developed a cross-platform, easily integratable mobile keyboard application that allows banks, including Santander, ING and Nationwide, to offer P-2-P payments to users via social media and messaging services. PayKey said it will use the recent funds to develop its solution for Facebook, Twitter and WhatsApp.

http://tech.eu/brief/paykey-raises-funding/

Israeli fintech startup PayKey has raised a $6 million Series A round from e.ventures, Gaby Salem of Wharton Asset Management, Santander InnoVentures, CommerzVentures, MasterCard and Digital Lenders Ventures. PayKey has developed a mobile keyboard application that allows banks to offer users peer-to-peer payment options through social networks and messaging services. PayKey says it will use the new funds to further develop its mobile payment solutions for social networks including Facebook, WhatsApp, and Twitter. "As the customer's level of confidence in using social networks for financial transactions increases, banks must prepare to provide these services in a way that is safe and friendly. This financing will enable us to continue developing our solution while beefing up global marketing efforts," Daniel Peled, CEO of PayKey told Israeli business publication Globes. The system works on all mobile platforms on the market and can be individually branded for each bank. The company says that it is easy to integrate because it is done "on the API level, without changing security procedures and levels." The company is already working on integrating with several leading banks, including Santander, Nationwide, ING in Holland, SpareBank in Norway, Davivienda in Columbia, Privredna Banka Zagreb in Croatia and more. “Santander has a longstanding relationship with PayKey and we are working closely to conduct customer trials across our markets," Mariano Belinky, managing partner with Santander InnoVentures, said in a press release. "We strongly believe PayKey can make payments even more accessible and integrated with consumers’ digital lives and we are actively interested in the potential to bring that value to our customer base.” Read more: Globes, Santander InnoVentures (press release)

How AI can unlock a $127B opportunity by reducing food waste

AI, the group of technologies that perform human-like cognitive functions such as reasoning and learning, has the potential to help reshape the world’s food system. Data-driven software and AI solutions can help farmers manage their work more effectively by providing outcomes for regenerative agricultural practices without expensive and time-consuming field trials. AI can also help farmers at the outset by designing out avoidable food waste and preventing edible food from being thrown away.

https://www.mckinsey.com/business-functions/sustainability/our-insights/sustainability-blog/how-ai-can-unlock-a-127b-opportunity-by-reducing-food-waste

Managing Partner of McKinsey in France. Leads our work in the Consumer Packaged Goods and Retail Practices in Africa, Europe, and the Middle East; the agriculture sector in France; and the circular-economy initiative worldwide The global economy is fueled by a “take, make, and dispose” model that relies on extracting and consuming large quantities of finite materials and fossil fuels. This linear economic model has delivered unprecedented prosperity over the past 200 years—but it has also damaged our environment. For example, every $1 spent on food production means $2 in economic, social, and environmental costs. Given the pressure on already severely depleted soils to provide food for an ever-growing global population and the fact that roughly a third of food is never eaten, innovation in our industrial agricultural system is a must. Artificial intelligence (AI), the group of technologies that perform human-like cognitive functions such as reasoning and learning, has the potential to help reshape the world’s food system. A recent report by the Ellen MacArthur Foundation and Google, with research and analytical support from McKinsey, found that AI can create—rather than extract—value and even protect and regenerate biological systems. The report found three areas where AI can have the biggest impact on the transition to a circular food system: sourcing food grown regeneratively and locally where appropriate, designing out avoidable food waste, and designing and marketing healthier food products. AI is one of the great technological developments of our time, and using its power to transition the food economy from a linear to a circular model is largely an untapped opportunity. Designing artificial intelligence into the food system Currently, most crops are grown in a way that withdraws more from natural systems than it returns, leaving waterways polluted and soils and agrobiodiversity depleted. With the help of AI, conventional agriculture practices such as mono-cropping, blanket application of synthetic chemical fertilizers, and intensive land use can be replaced with more regenerative agriculture practices. Data from drones, remote sensors, satellites, and smart farm equipment provides farmers with valuable real-time information on soil, crop health, and weather conditions. This intelligence helps farmers make smarter decisions on where to grow crops, how to optimize crop rotations, and when to sow, compost, and harvest those crops. For example, some ag-tech solutions analyze images to determine when fruit is ready to be picked. Others include algorithms that identify microbes that promote crop growth without synthetic fertilizers. Data-driven software and AI solutions can help farmers manage their work more effectively by providing outcomes for regenerative agricultural practices without expensive and time-consuming field trials. AI can also help farmers at the outset by designing out avoidable food waste and preventing edible food from being thrown away. Farm-based food supply chains can become more efficient using visual imagery technology during food inspections. AI-enabled tracking can help retailers sell food before it goes bad, and AI algorithms can forecast and predict sales to allow restaurants and retailers to more effectively connect supply to demand when ordering food, thereby reducing avoidable food waste. By using these techniques to design out food waste, we found that AI can generate an estimated economic opportunity of up to $127 billion a year in 2030, calculated as growth in top-line revenue. Even convenient and processed foods can be designed in a more circular way. AI tools can help source regeneratively grown ingredients, reducing processing waste and unsafe additives. Companies are already using AI algorithms to create an egg-free alternative to mayonnaise and plant-based foods to replace meat, fish, dairy and egg-based products, which rely more heavily on natural resources. Growing the field The McKinsey Global Institute predicted AI could add an extra $13 trillion to global economic activity by 2030, yet there are issues that may constrain its application for social good. The transition to a circular economy requires value chains and an entire network of trusted partners—it cannot be done by one company alone. Collaboration between stakeholders across the ecosystem, including companies, governments and NGOs, is paramount when it comes to data generation, collection, and sharing. Similar to the human brain, AI processes data and learns from it to make better decisions over time. AI production requires a clear understanding of the actual problem it’s meant to solve. Only then can it successfully complete these four steps: data collection, data engineering, algorithm development, and algorithm refinement. Global corporate investment in AI reached $39 billion in 2016, according to some estimates, and further, consciously value-driven investments are needed to advance and disseminate this technology in the service of a circular food economy.

Asia MX prices dip to $388/t, spot prices lowest since May 2003

Isomer-grade mixed xylene prices in Asia hit 17-year lows on 23 March, reaching $388/tonne free-on-board Korea basis, amid weak Chinese demand, while spot prices were at their lowest since May 2003, according to ICIS data. It revealed the cost-and-freight northeast Asia price was $422/tonne. MX prices in the yuan-demonimated market have held steadier thanks to the implementation of a floor price, which makes no adjustment if international crude falls below $40/bbl.

https://www.icis.com/explore/resources/news/2020/03/24/10485739/asia-mx-falls-below-400-tonne-mark-on-weak-china-demand-market-bearish

SINGAPORE (ICIS)–Asia’s isomer-grade mixed xylene prices have been hovering at their lowest in nearly 17 years, with the market outlook bearish on weak demand from China. Spot prices of isomer-grade MX on a free-on-board (FOB) Korea basis fell below the $400/mark on 23 March to $388/tonne; while the cost-and-freight (CFR) NE (northeast) Asia price stood at $422/tonne, ICIS data showed. Spot prices are currently at their lowest since May 2003, according to the data. CHINA DEMAND IMPROVES BUT STILL WEAK Import demand from China firmed slightly since early March as the country started lifting coronavirus-related restrictions on economic activities. In the yuan-denominated market, MX prices have resisted sharp declines in the international markets, widening the gap between the import parity of domestic prices and the FOB Korea price. The market was aided by the kicking in of a “floor price” in China’s domestic fuel pricing mechanism, in which no adjustment is made if international crude prices are below $40/bbl. A few deals for MX were made for April to May delivery at prices that fell from the high-$500/tonne levels to $450/tonne CFR east China. Inventories at Chinese ports continued to hover at high levels due to slow drawdowns by end-users. “Several buyers have approached me to delay the April delivery cargoes, because they could not find a tank space. I have to focus on such operational matters now,” a trader said. DOWNSTREAM PX MAKERS MAY CUT OUTPUT The production margin between downstream paraxylene (PX) and isomer MX has declined to a four-month low, which might lead to cutbacks of PX operating rates in northeast Asia. On 1-20 March, the spread between PX CFR Taiwan/China and isomer MX CFR northeast Asia stood at an average of $81.20/tonne, lower than the typical breakeven level of $120-140/tonne for end-users using MX as a feedstock. “We are seriously considering to lower our PX operating rate as the spread [between PX and MX] was below our variable cost,” a northeast Asian PX producer said. As PX producers usually fix one-year’s supply of MX by contract, the surplus volumes will be sold to the spot market when operation cuts were implemented. The spread could be further squeezed, as a couple of integrated producers were poised to restart from maintenance, potentially lengthening the supply of PX. US-TO-NE ASIA ARBITRAGE WINDOW OPENS Gasoline values in the US plunged as the coronavirus spread in the country became more prominent, with over 43,000 cases of infection, while the US Senate rejected a fiscal stimulus bill on Monday. US MX prices on 23 March hit a record low of $0.88/gal ($268/tonne) FOB US Gulf. At current prices, FOB Korea prices are higher than US Gulf prices by $120/tonne. No confirmed arbitrage deal between the US and Asia was spotted so far, but chartering a 25,000-tonne vessel from the US Gulf to northeast Asia would only cost an estimated $60/tonne. Between end-February and early March, a massive 30,000-35,000 tonnes of MX were moved to the US from northeast Asia amid an open arbitrage window. Focus article by Keven Zhang Photo: Cars drive in a traffic jam on a road in Beijing, China on 17 March 2020. (Photo by ROMAN PILIPEY/EPA-EFE/Shutterstock) Please join ICIS on Thursday – March 26 – at 4:30pm Singapore time (08:30 GMT) for a free webinar on coronavirus and global petrochemicals. Click here at this time and there is no need to register ahead. Visit the ICIS Coronavirus topic page for analysis of the impact on chemical markets and links to latest news.

PNC Financial Services : agrees to settle home loan class-action suit for up to $70M

PNC Financial Services has agreed to pay up to $70m to settle a 12-year class-action lawsuit on home loans. The lawsuit, inherited when PNC Financial Services bought the Community Bank of Northern Virginia, deals with the alleged excessive fees for unfulfilled services that affected customers who took out secondary home loans. It also alleged that the bank paid kickbacks to a mortgage broker firm that directed business its way.

http://www.4-traders.com/PNC-FINANCIAL-SERVICES-GR-14066/news/PNC-Financial-Services-agrees-to-settle-home-loan-class-action-suit-for-up-to-70M-23050153/

News in other languages on PNC FINANCIAL SERVICES GROUP, INC.

Clean Energy Fuels introduces Zero Now, clean fuel for trucks

Clean Energy Fuels has launched Zero Now, a system which it says combines the world’s cleanest truck engine technology with the world’s cleanest fuel. The company’s Redeem Dollar Deal offers Clean Energy's renewable natural gas fuel Redeem at $1 a gallon to the first 250 qualifying trucks fitted with ultra-clean engines. CEO Andrew Littlefair said Zero Now made it a “no-brainer” for truckers to switch to renewable natural gas fuel as the price of diesel was $3.75 a gallon in California. Redeem, made from organic waste, is claimed to be up to 70% cleaner than diesel.

http://www.ttnews.com/articles/clean-energy-offers-1-fuel-trucks-new-cwi-engine

TT file photo Clean Energy Fuels Corp. has introduced Zero Now, a fueling solution that combines what it calls the world’s cleanest engine technology with the cleanest fuel at a price of $1 per gallon for one year for a limited number of trucks. The Redeem Dollar Deal program is available on a first-come, first-served basis to the first 250 qualifying trucks powered by the new ultra-clean Cummins Westport ISX12N engine. These trucks are able to fuel with Redeem RNG at Clean Energy’s network of 23 stations throughout California, according to the Newport Beach company. “At a time when the price of dirty diesel is bumping up to $3.75 a gallon in California, paying only $1 a gallon for a year for clean Redeem can go a long way to recouping the cost of a new truck. Add in the grants available in California for new clean trucks, the Zero Now special offer makes it a no-brainer to switch to renewable natural gas,” Clean Energy Fuels CEO Andrew Littlefair said in a company release. The U.S. Environmental Protection Agency and California Air Resources Board certified these CWI engines in December 2017 at CARB’s optional Low NOx standard of 0.02 gram per brake horsepower-hour, 90% lower emissions than the current EPA nitrogen oxide standard. The new engines were tested at 0.01 gram per brake horsepower-hour, achieving virtually zero tailpipe emissions. Clean Energy’s Redeem is made from organic waste and is up to 70% cleaner than diesel.

Is Covid-19 on the way out?

Sunetra Gupta, Professor at the University of Oxford, created the second opinion to Neil Ferguson’s imperial model, where her rival model believes the majority of the UK has been infected with Covid-19 and the fatality rate might be as low as 0.1%. Gupta says the only reliable way of calculating this is by the number of deaths rather than cases, because cases rely on testing. Gupta claims antibody tests are flawed. Those who have been exposed can have other forms of immunity, genetic or pre-existing, that tests overlook. Thus, she states if we return to normal, we can overcome this. Why might it be on its way out?

https://unherd.com/2020/05/oxford-doubles-down-sunetra-gupta-interview/

It’s the biggest question in the world right now: is Covid-19 a deadly disease that only a small fraction of our populations have so far been exposed to? Or is it a much milder pandemic that a large percentage of people have already encountered and is already on its way out? If Professor Neil Ferguson of Imperial College is the figurehead for the first opinion, then Sunetra Gupta, Professor of Theoretical Epidemiology at the University of Oxford, is the representative of the second. Her group at Oxford produced a rival model to Ferguson’s back in March which speculated that as much as 50% of the population may already have been infected and the true Infection Fatality Rate may be as low as 0.1%. Like what you’re reading? Get the free UnHerd daily email Sign up, for free Already registered? Sign in Since then, we have seen various antibody studies around the world indicating a disappointingly small percentage of seroprevalence — the percentage of the population has the anti-Covid-19 antibody. It was starting to seem like Ferguson’s view was the one closer to the truth. But, in her first major interview since the Oxford study was published in March, Professor Gupta is only more convinced that her original opinion was correct. As she sees it, the antibody studies, although useful, do not indicate the true level of exposure or level of immunity. First, many of the antibody tests are “extremely unreliable” and rely on hard-to-achieve representative groups. But more important, many people who have been exposed to the virus will have other kinds of immunity that don’t show up on antibody tests — either for genetic reasons or the result of pre-existing immunities to related coronaviruses such as the common cold. The implications of this are profound – it means that when we hear results from antibody tests (such as a forthcoming official UK Government study) the percentage who test positive for antibodies is not necessarily equal to the percentage who have immunity or resistance to the virus. The true number could be much higher. Observing the very similar patterns of the epidemic across countries around the world has convinced Professor Gupta that it is this hidden immunity, more than lockdowns or government interventions, that offers the best explanation of the Covid-19 progression: “In almost every context we’ve seen the epidemic grow, turn around and die away — almost like clockwork. Different countries have had different lockdown policies, and yet what we’ve observed is almost a uniform pattern of behaviour which is highly consistent with the SIR model. To me that suggests that much of the driving force here was due to the build-up of immunity. I think that’s a more parsimonious explanation than one which requires in every country for lockdown (or various degrees of lockdown, including no lockdown) to have had the same effect.” Asked what her updated estimate for the Infection Fatality Rate is, Professor Gupta says, “I think that the epidemic has largely come and is on its way out in this country so I think it would be definitely less than 1 in 1000 and probably closer to 1 in 10,000.” That would be somewhere between 0.1% and 0.01%. Professor Gupta also remains openly critical of the Government lockdown policy: “The Government’s defence is that this [the Imperial College model] was a plausible worst case scenario. I agree it was a plausible — or at least a possible — worst case scenario. The question is, should we act on a possible worst case scenario, given the costs of lockdown? It seems to me that given that the costs of lockdown are mounting, that case is becoming more and more fragile.” She recommends “a more rapid exit from lockdown based more on certain heuristics, like who is dying and what is happening to the death rates”. She does not believe that the R rate is a useful tool in making decisions about government policies, as an R rate is “principally dependent on how many people are immune” and we don’t have that information. She believes that deaths are the only reliable measure, and that the number of cases should not even be presented as it is so reliant on the amount of testing being done. She explains the flare-ups in places like New York, where the IFR seems to have been higher than 0.1%, through a combination of circumstances leading to unusually bad outbreaks, including the infection load and the layout of the population: “When you have pockets of vulnerable people it might rip through those pockets in a way that it wouldn’t if the vulnerable people were more scattered within the general population.” She believes that longer-term lockdown-style social distancing makes us more vulnerable, not less vulnerable, to infectious diseases, because it keeps people unprotected from pathogens: “Remaining in a state of lockdown is extremely dangerous from the point of view of the vulnerability of the entire population to new pathogens. Effectively we used to live in a state approximating lockdown 100 years ago, and that was what created the conditions for the Spanish Flu to come in and kill 50m people.” Commenting on the Government response to the virus, she suggests it erred on the side of over-reaction not under-reaction: “I think there’s a chance we might have done better by doing nothing at all, or at least by doing something different, which would have been to pay attention to protecting the vulnerable, to have thought about protecting the vulnerable 30 or 40 years ago when we started cutting hospital beds. The roots of this go a long, long way back.” And she believes it is a “strong possibility” that if we return to full normal tomorrow — pubs, nightclubs, festivals — we would be fine, but accepts that is hard to prove with the current evidence: “So what do we do? I think we weigh that strong possibility against the costs of lockdown. I think it is very dangerous to talk about lockdown without recognising the enormous costs that it has on other vulnerable sectors in the population.” On the politics of the question, Professor Gupta is clear that she believes that lockdowns are an affront to progressive values: “So I know there is a sort of libertarian argument for the release of lockdown, and I think it is unfortunate that those of us who feel we should think differently about lockdown have had our voices added to that libertarian harangue. But the truth is that lockdown is a luxury, and it’s a luxury that the middle classes are enjoying and higher income countries are enjoying at the expense of the poor, the vulnerable and less developed countries. It’s a very serious crisis.”

Oman dairy to power operations with methane from waste-to-energy

Mazoon Dairy has opened Oman's first waste-to-energy biogas plant. The facility will process waste from 12,000 cows at the country's newest dairy farm and produce methane gas that will be used to operate the plant's equipment. The dairy said the efficiency of waste management would be improved by the waste-to-energy process. The farm aims to have the capacity to yield more than 270 million litres of milk annually by 2028.

https://www.bioenergy-news.com/news/oman-launches-first-dairy-waste-to-energy-biogas-project/

Mazoon Dairy Company (MDC), based in Oman, has opened a biogas plant - the first of its kind in the region. MDC is the country’s newest dairy farm, covering more than 15kmwith significant housing, feed and fodder mixing and storage facilities, a milking parlour, veterinary facilities, a processing and packaging plant, sales and logistics facilities and a waste treatment facility.According to a report by the World Biogas Association , the plant forms part of MDC’s plans to use waste-to-energy to boost the efficiency of waste management. It is the first time that a dairy farm in the region has adopted clean technology at this scale. By 2028, the farm aims to have the capacity to yield more than 270 million litres of milk every year, establishing Oman as a net exporter of dairy products in the next 20 years, said WBA.The launch of the plant was attended by Dr Hamad Bin Saeed Al-Aufi, Minister of Agriculture and Fisheries in Oman and the board of directors, the Times of Oman reported. Yousuf bin Khamis Al-Fazari, corporate affairs manager, said: “Mazoon Dairy is committed to adopting environmentally-friendly solutions through waste management, and we are so proud to inaugurate the first biogas plant in the region using cow waste.“The biogas plant will be used to produce methane gas that will be used to operate equipment at the plant, with plans to power even more of the plant with the increased herd in the future. The first phase of the project will include 12,000 cows that are expected to produce about 225 tonnes of fertiliser per day.”Engineer Hazza bin Abdullah Al Yahya added: “The farm currently includes 16 barns equipped with a special pond to collect cow waste, which will be transported through special containers to the biogas plant on a daily basis.“As the number of cows at the farm increases, the plant will reduce its reliance on fossil fuel needed to operate some facilities. This will vastly contribute to managing waste produced by daily operations and drive up operational efficiency.”

TalkTalk Investors seen keen on UK-style broadband rollout in US

Investors are keen to replicate in the US the CityFibre model of a wholesale, nationwide city fibre network operator serving broadband services companies, according to CEO Greg Mesch. He said the recent classification of CityFibre's business as an "investable asset in infrastructure funds" had brought capital flooding in. Now those investors are now eyeing opportunities in the US. Mesch said if one company could offer consistent, wholesale fibre capacity, it could "light a fire under the market".

https://www.lightreading.com/gigabit/ultra-broadband/cityfibre-model-heading-to-us-says-ceo/d/d-id/747345?_mc=RSS_LR_EDT

LONDON -- Cable Next-Gen Europe -- Stateside investors are ready to pump money into a wholesale, nationwide city fiber network operator that would serve broadband services companies addressing residential and business customers, according to Greg Mesch, the CEO of CityFibre, which is building the same type of wholesale network in the UK market. Mesch said the number of funds interested in taking the CityFibre model into the US market is "way out of proportion to the assets available." Founded seven years ago, CityFibre has acquired and built fiber networks in about 50 UK towns and cities outside the London area, striving all the time to achieve the kind of scale that would be attractive to potential users of the network. It has increasingly positioned itself as a challenger to the Openreach networks division of UK telecom incumbent BT Group plc (NYSE: BT; London: BTA), and after growing through strategic acquisitions during the past few years was acquired in a £538 million ($704 million) deal by a Goldman Sachs-led consortium in April this year. (See Eurobites: Investment Group Makes £538M Bid for CityFibre.) "Our model is 100% classed as an investable asset in infrastructure funds and five years ago it was not," said Mesch at today's Cable Next-Gen Europe conference in London. "That has opened up a pool of capital that is 10 to 20 times larger than the pool of capital for private equity and at half the return rates expected." The same investment groups are now exploring rollout opportunities across the US market, where the open fiber model has until now been limited in scope, said Mesch. He reckons there are roughly 12 US companies that operate in a similar way to CityFibre but have networks in just two or three cities each. The lack of scale largely explains why the approach has not yet taken off in the US, according to Mesch. "People are trying to build in one city here or there, and it creates a fragmented market." What would really light a fire under the market would be if one company could offer wholesale fiber capacity in many US cities with a consistent proposition and processes. Meanwhile, back in the UK... While it remains relatively early days for CityFibre in the UK, its rise to prominence seems bound to have attracted attention in other parts of the world. Having started out with a business and public sector focus, the company this year announced plans to build all-fiber networks to approximately 5 million UK homes -- about 20% of the country's total -- at a cost of roughly £2.5 billion ($3.3 billion). It has landed Vodafone, one of the UK's biggest telecom operators, as an anchor tenant for these networks in several major towns. (See Eurobites: UK's CityFibre Announces $2.5B FTTH Investment Plan.) "Once you have scale, you shift the revenue model, and that is what has got Openreach in a bit of a bind right now," he said. "Other mobile operators are all doing tests and services with us." CityFibre claims that its all-fiber networks provide substantially faster connections than Openreach's lines, which mainly rely on a mix of copper and fiber to support end-user services. Connectivity is also 50% cheaper, claimed Mesch, with a fiber line into the home costing about £12-14 ($16-18). "That is less than the cabinet price for BT," he said. "It is the death model for them." For more fixed broadband market coverage and insights, check out our dedicated broadband content channel here on Light Reading. Under pressure from competition and the UK's regulatory authorities, Openreach has said it will extend all-fiber networks to as many as 10 million UK premises by the mid-2020s -- if the investment conditions are favorable. It is already at work on extending fiber to around 3 million properties by the end of 2020 and covered about 680,000 of those properties by the end of September, according to its latest set of earnings. (See BT's Jansen: We Need to Talk About Openreach.) Seeking to improve conditions for BT's retail rivals, telecom regulator Ofcom has forced BT to manage Openreach at arm's length from the rest of the business. Critics say authorities should go further, mandating a "structural separation" that would turn Openreach into an entirely separate company with a different owner. Mesch denied that a structurally separated Openreach would spell trouble for CityFibre if it adopted the same approach. "Openreach should be divested," he said. "It will take years to do that, but it should be divested, and they should concentrate on saving market ground." He also played down the suggestion that Openreach might swallow up CityFibre, arguing that regulatory authorities would not want to see any reduction in infrastructure-based competition. — Iain Morris, International Editor, Light Reading

Ant Financial's progress may be curbed by Chinese regulators

of a perceived risk to its $12.7tn economy. Proposed regulation will compel companies, with a presence in at least two financial industries, to obtain licenses from China's central bank, The People's Bank of China, and to meet minimum capital requirement levels, said unnamed sources. The news comes amid a $10bn funding round and potential stock market listing for Alibaba-affiliate Ant Financial, which is also dealing with growing competition from Tencent.

https://www.insurancejournal.com/news/international/2018/05/08/488568.htm

There’s no other company on Earth quite like Ant Financial. Spanning online payments, insurance, lending, credit scores, asset management and more, Jack Ma’s Chinese behemoth resembles a mashup of PayPal, Geico, Wells Fargo and Equifax — with a bit of BlackRock thrown in for good measure. Thanks to clever mobile apps and a burgeoning Chinese middle class, Ant oversees the world’s biggest money-market fund and handles more than $2.4 trillion of mobile payments every three months. Many of the company’s 870 million customers rely on it for nearly every aspect of their financial lives. But Ant’s extraordinary reach may soon expose the company to a major challenge: Chinese policy makers, worried that Ant and other financial holding companies pose systemic risks to the nation’s $12.7 trillion economy, are drafting new regulations that could make it much harder for the companies to grow. The rules will force Ant and some of its peers that straddle at least two financial industries to obtain licenses from China’s central bank and meet minimum capital requirements for the first time, according to people familiar with the matter, who asked not to be identified discussing private information. The companies’ ownership structures and inter-group transactions will also be restricted, the people said, adding that the rules need approval from China’s State Council and are subject to change. Ant was among the biggest beneficiaries of a freewheeling era in Chinese financial regulation that saw tech-savvy startups transform how the nation’s 1.4 billion people spend, borrow and save. But China’s government is now shifting into risk-control mode as it tries to prevent a record buildup of corporate and consumer debt from sinking the economy. Ant’s growing role in the country’s financial plumbing makes it an obvious target for authorities who’ve already shackled spendthrift acquirers and reined in the nation’s sprawling shadow-banking system. Current Consensus “Regulators have been a bit slow in reacting to Ant’s meteoric rise, but the consensus now is that something must be done,” said Dong Ximiao, a senior researcher at Renmin University of China in Beijing. “Ant has become too big to fail. Any mishap could lead to market or even social disorder.” The prospect of stricter oversight comes at a particularly sensitive time for Ant. The company is in the process of finalizing a $10 billion funding round and may soon embark on one of the most eagerly anticipated stock-market listings since Ma took his e-commerce giant, Alibaba Group Holding Ltd., public in New York four years ago. Ant is also grappling with growing competition from Tencent Holdings Ltd. — the social media behemoth that’s branching into financial services — and a more uncertain outlook for its international expansion after the collapse of a deal for America’s MoneyGram International Inc. in January. Ant, which was spun off from Alibaba in 2011 and is formally known as Zhejiang Ant Small & Micro Financial Services Group, said in response to questions from Bloomberg News that its “principle has always been to work closely with regulators and support the healthy development of China’s financial sector.” China Investment Corp., the $930 billion sovereign wealth fund that owns a stake in Ant, responded to questions by saying it’s not involved in the company’s management. Alibaba, which is entitled to a portion of Ant’s earnings, rose 3.4 percent in New York trading on Monday. The People’s Bank of China didn’t respond to a faxed request for comment. While the central bank has never publicly detailed which businesses it considers financial holding companies, former PBOC Governor Zhou Xiaochuan said in March that regulators were considering new rules for the companies that may include minimum capital requirements. When asked by Bloomberg News in March how the government plans to regulate Ant, Yi Gang, who succeeded Zhou as PBOC governor seven weeks ago, said: “You will find out very soon.” To be clear, there’s no indication that Ma or Ant have broken any rules or landed on Beijing’s blacklist. While policy makers are right to consider tougher restrictions on the company, Ant “didn’t run afoul of the government,” said Oliver Rui, a finance professor at the China Europe International Business School in Shanghai. Judging by the $150 billion valuation under discussion in its upcoming funding round, Ant’s investors don’t seem particularly spooked. In fact, they have a fresh reason to be bullish after it emerged on Friday that Ant’s pretax profit jumped by an estimated 65 percent in the year ended March. But that doesn’t mean the company will go unscathed. “In China the government tends to take a laissez-faire attitude, until you are big enough,” said Chen Shujin, chief financial analyst at Huatai Securities Co. in Hong Kong. While some of Ant’s units already fall under the purview of authorities including the central bank, the company isn’t regulated at a group level and discloses little about its finances to the public. The worry is that problems at Ant could go undetected and, in a worst-case scenario, put the stability of China’s financial system at risk. The company’s outsized presence in the lives of ordinary Chinese adds to the argument for stricter oversight. Zeng Jinping, a college student in Shanghai, is a case in point: The 23-year-old pharmaceuticals major uses Ant’s payment platform for most of his big online purchases, puts his savings in the company’s funds and borrows money from its consumer-lending arm. “It’s very convenient,” said Zeng, whose high credit score (also provided by Ant) entitles him to zero interest short-term cash advances, similar to those offered by credit-card companies. Some of Ant’s business lines have already faced tighter restrictions in recent months. The company’s Yu’E Bao money-market fund, which has more customers than the U.S. has people, put a cap on daily subscriptions in February after coming under pressure from the central bank to limit inflows. Two of Ant’s consumer lending units tripled their capital buffers in December after the PBOC rolled out tough new requirements for the industry. If China’s leaders sign off on the financial holding company regulations, the likely upshot for Ant is lower leverage and slower growth. The company’s most important consumer loan business has a razor-thin capital adequacy ratio of around 2 percent, according to an estimate from Orient Capital Research. That compares with the 10.5 percent year-end regulatory minimum for China’s smaller banks and the 11.5 percent minimum for systemically important lenders. Still, quantifying the impact on Ant and its competitors will be tough until details of the finalized regulations come to light. The people familiar with the draft rules didn’t provide specifics on capital adequacy requirements or a complete list of companies that will face oversight, though they did say companies subject to the rules also include Citic Group and China Everbright Group (both conglomerates didn’t immediately reply to requests for comment). What’s clear is that regulatory scrutiny of Ant is intensifying, said Armstrong Chen, director for banking law and practices at the Shanghai Law Society. While that may ultimately put the company on a healthier growth path, it’s likely to weigh on Ant’s near-term results, Chen said. “Regulatory restrictions will likely cause some short-term pain,” he said. “Unchecked expansion will no longer be possible.” –With assistance from Heng Xie, Samuel Dodge, Adrian Leung and Steven Yang Copyright 2023 Bloomberg. Topics Legislation China

Indonesia aims to clean up oceans with seaweed-based bio-plastics

Indonesia is the largest global producer of red seaweed, which can be used to make bio-plastics and packaging. It is also the second worst country for marine plastic pollution after China and has committed to reduce marine waste by 70% by 2025. At present, most bio-plastics are derived from sources such as cassava, corn and sugarcane. Seaweed can be grown cheaply and without use of fresh water or chemicals. Seaweed beds also de-acidify water and serve as carbon sinks. Indonesian start-up Evoware, which is already producing seaweed products, including packaging, by hand hopes to be fully automated next year.

https://www.theguardian.com/environment/blog/2018/jun/27/could-seaweed-solve-indonesias-plastic-crisis

Indonesia produces more marine plastic pollution than any other country except China. This is perhaps unsurprising: the world’s biggest archipelago is also its fourth most populous. Limited income and cash flow means that poorer communities rely on cheap single-use plastics like bags, water cups and shampoo sachets. Waste management systems are rudimentary and each year millions of tonnes of trash ends up in waterways and eventually the ocean. Last year Indonesia pledged US$1 billion to cut its marine waste by 70% by 2025. The country will have to tackle the issue on multiple fronts if this ambitious target is to be met. Besides changing consumer habits and improving waste management infrastructure, industry needs to move away from single use plastics and quickly introduce and scale up biodegradable alternatives. This is where seaweed comes in. Indonesia’s seaweed production is second only to China and is increasing by an estimated 30% a year. Indonesia is also the world’s biggest producer of red seaweed, a variety that’s ideal for creating bio-plastics and packaging. Currently, most bio-plastics derive from terrestrial sources related to the food industry, including corn, sugarcane and cassava. However, according to Bakti Berlyanto Sedayu, a researcher with the Indonesian Ministry of Marine Affairs and Fisheries, seaweed is a far more sustainable alternative. Sedayu says that land based bio-plastics require huge investments in land, risking the kind of catastrophic deforestation we’re seeing with palm oil. They also use fertilizers and pesticides and are not always as biodegradable as they’re touted to be. By contrast, seaweed is cheap to produce as it is cultivated offshore, grows quickly and doesn’t require fresh water or chemicals to grow successfully. Seaweed beds are also natural carbon sinks, de-acidifying water. An Indonesian woman harvests seaweed at her farm off the beach in Nusa Dua, Bali, Indonesia. Photograph: Ed Wray/AP Conditions in Indonesia are ideal for seaweed farming - the sun shines more or less year round and there are more than 34,000 miles of coastline. And as pressure on fish stocks continues to increase, coastal populations are turning to aquaculture as an alternative. Sedayu believes it could take just five to ten years to bring the production of bio-plastics up to an industrial scale - though this would require careful management. For now, seaweed based packaging is barely in its infancy. Indonesian start up Evoware is producing seaweed products that are edible, including jelly glasses, sachets and food wrapping. But they are produced by hand and are only available for companies to sample as part of their testing phase. This will soon change however according to founder and CEO David Christian. “We’re expecting to be fully automated by next year,” the 23-year-old entrepreneur explains. “When that happens, our edible packaging will cost around 30% more than existing plastics, which is competitive.” Evoware also work directly with seaweed growers. Right now, 80% of seaweed is processed outside Indonesia and the lengthy supply chains mean that farmers see a small fraction of the profit. “We teach them how to grow high quality seaweed and to wash it properly, plus we pay double the price they’d normally get,” says Christian. Companies and consumers will need to change their practices if seaweed based packaging and bio-plastics are to have any hope of going mainstream. There are encouraging signs that there is nascent political will to create this shift. Earlier this month, the Indonesian government teamed up with the country’s two biggest Islamic organisations to encourage their followers - more than 200 million of them - to cut out single use plastics. Citizen movements like the Bye Bye Plastic Bags campaign in Bali - a local project led by schoolchildren that has gone global - have helped put the issue of plastic waste in the spotlight. For the last three years, the annual Coral Triangle Day celebrations, which fall on June 09 after World Ocean’s Day, have included a social media contest to encourage consumers to reconsider their relationship with single-use plastics. Having signed up to the UN Clean Seas campaign, which is targeting both production and consumption of single-use plastic, the Indonesian government will now need to develop legal frameworks at national and regional levels to provide a foundation for new supply chains, effective waste management and community engagement. Pledges need now to be backed by concerted, concrete action.

SGX Signs MOU to Enhance Capital Market Links Between Singapore and China

A memorandum of understanding (MOU) has been signed between the Singapore Exchange (SGX) and Commercial Bank of China Limited (ICBC) to develop derivatives trading, bond trading and market making of Ren Min Bi dominated contracts registered on SGX. The ICBC will also promote Singapore’s capital markets, while SGX will help Chinese companies list equities and bonds, particularly in real estate trusts and offshore Ren Min Bi bonds.

http://www.financemagnates.com/institutional-forex/exchanges/sgx-and-icbc-sign-mou-to-enhance-capital-market-links-between-singapore-and-china/

Singapore Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (SGX) and Industrial and Commercial Bank of China Limited (ICBC) have signed a memorandum of understanding (MOU) to collaborate on enhancing the links between Singapore and China’s capital markets. We are pleased to be working with SGX to encourage Chinese companies’ participation in Singapore’s capital markets. Join the industry leaders at the Finance Magnates London Summit, 14-15 November, 2016. Register here! “We look forward to working with ICBC to enhance the collaboration between China and Singapore’s capital markets, supporting Chinese companies to raise capital and seek investment opportunities through Singapore, whilst also helping to further internationalise the RMB”, said Chew Sutat, Head of Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term and Fixed Income. Under the MOU, SGX and ICBC will collaborate to promote Singapore’s capital markets and support Chinese companies seeking to list equities or bonds on SGX, with a focus on real estate investment trusts (REITs) and offshore RMB bonds. The support will include providing guidance on the listing process, listing rules as well as post listing marketing support in both China and Singapore. SGX and ICBC will also explore collaboration in derivatives trading, bond trading and market making of RMB denominated contracts listed on SGX. Zhang Weiwu, General Manager of ICBC Singapore branch, added: “As China’s largest bank and Singapore’s sole RMB clearing bank, we are pleased to be working with SGX to encourage Chinese companies’ participation in Singapore’s capital markets, especially as Chinese companies continue to adopt an increasingly global outlook in their growth, expansion and funding prospects.”

Contaminated eggs may have entered the UK

Contaminated eggs may have been delivered to the UK, with millions of chickens in the Netherlands due to be culled to avoid spreading insecticide-tainted produce. Supermarkets across the EU have pulled potentially contaminated eggs from supermarket shelves since the issue was first reported in Belgium on 20 July 2017. The EU rapid alert system has detected that the eggs have been distributed through Germany to France and the UK, with the European Commission advising that both countries check imported stock.

http://www.france24.com/en/20170807-france-uk-tainted-eggs-scandal-spreads-food-safety

EUROPE Britain and France said Monday that some insecticide-tainted eggs may have entered the country, as millions of chickens faced being culled in the Netherlands in a growing European contamination scandal. Advertising Read more Belgium meanwhile vowed full transparency about why it kept the scandal secret despite originally learning in June about the problem involving fipronil, a substance potentially dangerous to humans. Supermarkets in Germany, the Netherlands and Belgium have pulled millions of eggs from the shelves since Belgium gave the European Commission the first notification on July 20, while retailers in Sweden and Switzerland have followed suit. The European Commission said Monday that under its EU rapid alert system it had been determined that eggs under suspicion of contamination had also been distributed to France and Britain via Germany. "It's now up to the Swedish, Swiss, French and to the UK to check because all these eggs are traceable and trackable," European Commission spokeswoman Anna-Kaisa Itkonen told reporters. Britain's Food Standards Agency said it was "urgently investigating the distribution of these eggs in the UK" from farms at the centre of the scare, while adding that "the number of eggs involved is very small and the risk to public health is very low". It did not give a number but said it represented 0.0001 percent of eggs annually imported into Britain. France's Agriculture Ministry said it was investigating 13 lots of egg products from the Netherlands that were sent to two establishments in the country between July 11 and July 26 – long before European authorities informed France it might have received some contaminated shipments. The ministry said it was analysing whether the level of contamination was "susceptible of presenting a risk to consumers", adding that traces of fipronil are not necessarily a risk. The lots were sent to establishments in the Vienne and Maine-et-Loire regions, southwest of Paris, the ministry said. Roosts of a poultry farmer in France's northern Pas de Calais region also were placed under surveillance on July 28 after the farmer's Belgian supplier told him fipronil had been used on the birds he bought. It is believed the toxic substance was first introduced to poultry farms by a Dutch business named Chickfriend brought in to treat red lice, a parasite in chickens. Dutch and Belgian media reports that the substance containing the insecticide was supplied to Chickfriend by a Belgian firm have not been confirmed. Dutch farming organisation LTO said that several million hens may need to be culled at 150 companies in the country, with 300,000 having already been killed. An LTO spokesman said they "had to be eliminated because of contamination". 'Complete transparency' Dutch authorities have shuttered 138 poultry farms – about a fifth of those across the country – and warned that eggs from another 59 farms contained high enough levels of fipronil that they should not be eaten by children. Belgium currently has production blocked from 51 farms – a quarter of those nationwide – with fipronil found at 21 farms, although levels were 10 times below the maximum EU limit, the country's food safety authority AFSCA said. Belgium's agriculture minister meanwhile said he had ordered the agency to report by Tuesday on why it failed to notify neighbouring countries until July 20 despite knowing about fipronil contamination since June. Denis Ducarme said in a statement he had told AFSCA to produce a "report on the circumstances of the agency's actions since the first information it received about the fipronil problem" Facing pressure from Germany and the Netherlands, Ducarme promised "complete transparency". He said he would speak by telephone with his counterparts in the coming days. Belgian officials admitted on Saturday they had kept the problem under wraps and failed to trigger the EU's international food safety alert system, but said it was because of a fraud probe. Germany has demanded an explanation from Belgium about why the issue was kept covered up. Fipronil is commonly used in veterinary products to get rid of fleas, lice and ticks. But it is banned from being used to treat animals destined for human consumption, such as chickens. The substance is absorbed into the skin or feathers of chickens and then passes into the eggs. In large quantities, the insecticide is considered to be "moderately hazardous" according to the World Health Organization, and can have dangerous effects on people's kidneys, liver and thyroid glands. (FRANCE 24 with AFP) Daily newsletterReceive essential international news every morning Subscribe

Cyber and data insurance

It’s also known as cyber liability insurance, or data protection insurance. It’s there to make sure your business is protected against cyber crime – things like fraud, data theft and social engineering, where criminals attempt to fool you into parting with money, information or both. It also covers data breaches where sensitive information is accidentally shared.

https://www.hiscox.co.uk/business-insurance/cyber-and-data-insurance

Looks like you're having trouble finding an exact match. We may be able to offer you cover based on your business sector. Which industry do you work in? Your industry Choose an industry... IT and Technology Management Consultancy Marketing, Sales and Events Trades, Construction and Engineers Retail and Shops Coaching, Training & Education Charities and Not for Profit Accountancy, Financial and Legal Business Services Photography and Creative Services Recruitment Architecture and Design Health and Safety Consultancy Surveying and Estate Agency Health, Beauty and Therapies Medical Professionals & Services Other Choose a business activity Academic consultancy Academy Accident investigator Accountancy Acoustic consultant Acoustic engineers Acting (Performer Actor Actress) Activity centre Actuary Acupoint therapy Acupressure Acupuncturist Addiction counselling Addressing/Circularising Services Administration services Adoption agency Adult education centres Adult retailer Advanced Nurse Practitioner Advertising agency Advertising and marketing consultancy Aerial and network specialist Aerial photography Aerobics instructor Aerospace consultancy Aesthetic beauty centre Aesthetics After Dinner Speaking After school club Agricultural consultancy Agricultural merchant Air ambulance Air conditioning engineers AirBnB Airline Alarm and security engineers Alarm Wholesalers Alcohol rehabilitation Alderian therapy Alexander Technique Allergy testing Alternative therapist Ambulance risks Amphitheatre Amusement arcade Amusement park Anaerobic digestion consultancy Anaesthetist Analytical psychology Animal and livestock dealer Animal and wildlife consultancy Animal assisted counselling Animal assisted psychotherapy Animal charity Animal nutritionist Animal surveys and consultancy Animal therapist Animal trainers Animation Anthropology Anti-cellulite massage Antique dealer Antiques valuer App development Applied psychology Apprenticeship training Aqua zumba Aqua-fit Aquarium Arbitrators Arboricultural consultancy Archaeology Architect Architectural services Archivist Arena Armed forces charity Aromatherapist Art Criticism Art dealer Art gallery Art psychotherapy Art therapist Art valuer Art workshop Artexing Artist Artist studio Arts and crafts shop Arts centre Arts, culture and heritage charity Asbestos surveying or removal Asset management Asset valuation Association Astrology Astronomy Asylum seeker charity Auction room Auctioneers Audio-visual equipment retailer Audio-visual installer Audiology Auditing Auditorium Aura-Soma Treatments Auricular therapy Author Auto body shop Autograph dealer Aviation consultancy Ayurvedic massage Baby goods shop Baby massage Baby yoga Babywear Manufacturers Bach flower remedies Bailiff, sheriff and debt collection Bakery Ballroom Bandstand Bank Bar Barber Barrister Bathroom and kitchen design Bathroom and kitchen fitter Bathroom designing and installing Bathroom showroom Beautician Beauty clinic Beauty salon Beauty therapist Bed and breakfast Bedding and soft furnishings shop Beekeeper Behavioural therapy Bellyfit Belt and Brace Wholesalers - Plastic Betting shop Bike repairer and retailer Binocular and telescope retailer Bio-resonance therapy Bio-skin jetting Biology Biomass consultancy Biomedical Scientist Blogger Boat and yacht dealer Body - Colour Analysis Body - Cosmetic Camouflage Body - Depilation By Blend Method Body - Depilation By Tweezer Method Body - Massage Electro-Mechanical Body brushing and exfoliation Body conditioning Body massage Body scrubs Body wrapping Book Manufacturers Bookbinding Bookkeeping and payroll Bookmakers Bookmaking - On Course Bookshop and booksellers Botany Bowen technique Bowling alley Bowls club Boxercise Brain working recursive therapy Brand and design consultancy Breast feeding consultancy Brewery Bricklayer Bridal make-up Bridal shop Brief therapy Broadcaster Buddhist charity Budget retailer Builders - All Premises Builders - Commercial New Builders - Commercial New Alteration and Repair Builders - PDH New Builders - PDH New Alteration and Repair Builders merchant Building contractor Building control engineer Building maintenance and repairer Building services engineering Building Site Inspector Building society Building surveying Business advisory service Business analyst Business and management consultancy Business coaching Business consultancy Business mentoring Business psychology Business training Butcher Cabinet maker Cable contractor CACI CAD designer Cafe Calibration Consultancy Call centre Calligraphy Camera and photography shop Camouflage make up Camping and outdoor equipment shop Candied Peel Manufacturers Candle shop Canine hydrotherapy Canvassing Car dealership Car parts and enhancement retailer Car repairs Car valeting Car valuer Car Wash and Valeting Car Window Etching Carbon management and consultancy Cardiologist Cardiovascular Technologist Care agency Care home Care worker Career advisor Career consultancy Careers advisory service Carer Caretaking Services Carpentry and joinery Carpet and rug retailer Carpet and upholstery cleaning Carpet fitting and floor laying Cartography Case handler Case management Cash-and-carry Casino Castle Catalogue Distribution Catering Catering Consultancy Catering equipment installation and maintenance Cathedral Cavity insulation installing Ceiling and partition erecting Central heating servicing Ceramics and china shop Chakra balancing Chamber Of Commerce Charity Charity shop Chauffeur Services Cheerleading club Cheesemonger Chemist Child welfare and support charity Child, adolescent and family therapy Childrenswear Manufacturers Chimney Sweep Chimney sweeping Chiropodist Chiropractor Choreography Christian charity Chronic condition management Church Cider Wholesalers Cinema Circuit training Circus City hall Civil engineering Cladding contractor Claims handling Cleaner and domestic services Clerk of works Clerking services Clinic Clinical Laboratory Scientist Clinical Pharmacists Clinical Physiologist / Scientist Clinical psychology Clinical trials Clinician Clinics providing surgical procedures Clock and watch repairer Clothing (ex Woollens, Hosiery/Leather) Manufacturers Clothing Alterations Clothing and shoe retailer Clothing Manufacturers Clothing Wholesalers Clubs and associations Coaching and leadership development Cocktail bar Coffee Merchants Coffee shop Coffeehouse Cognitive analytic therapy Cognitive behavioural therapy Cognitive therapy Collectibles dealer College Colour Consultancy Colour therapy Comedy club Comic and magazine shop Commissioners For Oaths Committee Commodities broker Communications consultancy Communications network Community centre Community group Company registrar Company search agency Complaint handling Complaint management Complementary therapy Compliance auditing Compliance consultancy Composer Computer and tablet retailer Computer and video game retailer Computer cabling Computer consumables sales Computer graphics Computer hardware and software installation Computer hardware consultancy Computer Hardware Wholesalers Computer manufacturer or assembly Computer programmer Computer repair and maintenance Computer software consultant Computer software customisation Computer software developers Computer software installation Computer software maintenance Computer software sale Computer software testing Computer training school Conceptual designer Concert hall Concierge service Condition management Conditioning eyebrow and eyelash treatment Confectioners Conference and exhibition organiser Conference centre Conservation charity Conservation trust Conservatory contractor Construction Construction plant repairer Construction training Contact lens shop Convalescent homes Convenience store Conveyancing Cookery school Cookware and bakeware shop Copper Plate Engravers Copywriting Corn exchange Corner shop Coroner Corporate providers undertaking surgical procedures Corporate screening services Corporate social responsibility consultancy Corporate training Corporate video producing Corrosion Consultancy Cosmetic clinic Cosmetics shop Cost consultant Council Counselling Counsellor Country estate Courier Courier broker Couriers Couriers/Delivery Services Craniosacral therapy Creative visualisation Creativity consultancy Cricket club Cricket ground Criminal rehabilitation Crystal therapy Cultural centre Curtain and blind installers Curtain and blind shop Customer service consultancy Cyber security consultancy Cycling club Cyclo-ssage Damp proofer and dry rot control Damp Proofing Dance fitness Dance hall Dance instructor Dance movement therapy Dance studio Dance teacher Daoyin tao massage Data aggregator Data analyst Data analytics Data and document shredding Data warehouse Database consultancy Database migration Dating site or service Day centre Day clinics Debt collector Debt helpline Debt recovery Deep tissue massage Delicatessen Delivery Demolition services Dendrochronology Dent repair Dental hygienist Dental nurse Dentist Department store Dermaplaning Dermatologist Designers Desktop publishing consultancy Dialetical behavioural therapy Dietary and nutritional advice Dietician Digital marketing Digital printer Direct marketing Disability and access audit consultancy Disability charity Disaster recovery consultancy Discothèque Dispensing opticians Distillery DIY store DJ Doctor Document scanning Domain name registration Domestic appliance maintenance Domiciliary care Doulas Drainage contractor Drama school Drama therapy Drama tuition Draught proof services Draughtsman Dream analysis Dress maker Driveway services Driving instructor Driving range Drop-in centre Drug rehabilitation Dry cleaners Dry cupping Dry lining and partitioning contractor Ductwork Installation Ductwork installing E-cigarette retailer Ear candling Ear lobe piercing Ecology consultancy Editor Editorial Consultancy Education advisory service Education and training charity Education consultancy Elderly charity Electrical appliance retailer Electrical appliance servicing Electrical engineer Electrical Goods Consultancy Electrical hair epilation (electrolysis) Electricians and electrical contractors Electro crystal therapy Electro-Mechanical Slimming Treatments Electrocardiogram Technician Electronics Consultancy Electronics Technician Electrotherapy facial Embalmer Embroiderer Embryologists EMDR (eye movement desenitisation and reprocessing) Emergency Care Practitioner Emergency Medical Technician Emergency services charity Emmett technique Emotional freedom technique Emotional support group for people with medical issues Emotionally focused therapy Employment agency Employment consultancy Endermologie Energy assessing Energy balancing Energy broker Energy consultancy Energy healing Energy procurement consultancy Engineering Engraving Enterprise agency Environment charity Environmental consultancy Environmental health consultancy Environmental health officer Epidemiology Epilepsy consultancy and support Equality charity Equestrian centre Equine care Equine dentist Equine therapist Ergonomics consultancy Erotic retailer Estate agency Event and wedding organisers Exam board Executive coaching Executive search Exhibition Exhibition and conference design Exhibition centre Exhibition stand designer Exhibition stand erecting Existential therapy Expeditor Expert witness Export Consultancy Eyebrow lamination Eyebrow perming Eyebrow tinting Eyebrow tweezing Eyelash and eyebrow extensions Eyelash perming Eyelash tinting Fabrics shop Face and body painting Face and body treatment with Jade roller Face masks Face reading Facial - Massage Manual Facial steaming Facials Facilities management Fairground operator Family Health Family mediator Family Planning Agency Family planning centre Famine relief charity Faradic facial and body treatment Farm shop Farm supplier Farming consultancy Farrier Fashion Accessory Manufacturers Fashion Accessory Wholesalers Fashion consultancy Fashion design Fashion outfitter Fencing Feng shui Feng Shui consultancy Fertility treatments Festival Fetes organiser Film director Film production Financial Advisor Financial Analyst Financial Consultancy Financial institution Financial management consultancy Financial services contractor Fintech Fire protection consultancy Fire protection installers Fire risk assessor Fire risk engineer Fire safety consultancy Fire safety training Fireplace installing First aid provider First aid training First Responder Fish and chip shop Fisheries Consultancy Fishing tackle shop Fishmonger Fitball Fitness classes Fitness instructor Flight training instructor Florist Flower arranging Food bank Food hygiene consultancy Food safety and hygiene consultancy Food stylist Football club Football stadium Forensic consultancy Forensic psychology Forestry consultancy Fortune Telling Foster carer agencies Fostering and adoption Franchise consultancy Franchisee or franchisor Fraud investigation Freight Agent Freight forwarder French polisher Frenulotomy Fuel Efficiency Consultancy Funeral director Funfair Furniture installers Furniture restoring Furniture shop FX trader G.P. Galvanic and thermotherapy facial Galvanic facial and body treatment Gambling company Gambling helpline and advice Games developer Garage Garage door and gate installers Garden centre Garden design Garden nursery Gardening services Gas fitting Genealogy General lifestyle advice regarding nutrition and exercise General practice Geneticist Geological consultant Geriatric homes Gestalt therapy Glassware shop Glazing Glove Manufacturers ex leather Golf club Golf course design Governing body Government approved training and apprenticeship Governmental department or authority Gown Manufacturers Graphic design Graphology Grave digging Green deal assessor Greengrocer Greeting card shop Greetings Card Wholesalers Ground maintenance Groundworks contractors Group exercise instructor Guest house Gun shop Gurdwara Guttering and fascia board installing Gym Gym equipment installation Gym instruction Gynaecologist Gynaecology Haematology Hair epilation - non-electrical Hair stylist Hair transplants Hairdresser Hairdressing training Handbag shop Handkerchief Manufacturers Handyman Hardware store Haulage Haulage Contractor HD brows Head shop Headhunter Health and fitness spas Health and humanity charity Health and safety consultancy Health Centre Health food shop Health Promotion Practitioner Health screening Health Visitor Healthcare Assistant Healthcare consultancy Healthcare or medical clinic Healthy eating advice Hearing aid dispensary Heating engineers Heating, ventilation and AC engineers Hedge fund Help line management Herbalist Heritage consultant Heritage site Hindu charity Historian Hobby shop Hockey club Holiday park Hollowware - Domestic - Kettles Pans Warehousing Home cinema retailer Home improvement contractors Home inspectors Home tutor Homeopathy Homesearch agency Homeware shop Horticultural Consultancy Hosiery and lingerie retailer Hosiery Manufacturers Hospice Hospital Hospitality Hot stone massage Hotel House sitter Housing and homeless charity Housing Association Housing associations Housing support service HR consultancy Hula hooping Human resources consultancy Human rights charity Humanistic therapy HVAC engineers Hydro engineer Hydro Geology Hydrotherapy Hypnotherapy Ice Cream Vendor Ice rink Illuminated Sign Manufacturers Illustrator Image consultancy Immigration consultancy Import and Export Consultancy Independent financial adviser Independent living services Indian head massage Indoor arena Industrial Consultancy Industrial Design Inferential therapy Information broker Information Bureau Inn Insolvency practice Insulin testing and administration Insurance administrator Insurance broker Insurance intermediary Interim management Interior design Internal fit-out contractor Internet cafe Internet consultancy Internet service provider (ISP) Introducer Inventory clerk Investment fund Invigilator Iridology Irlen practitioner Ironing services Ironmonger Islam charity IT and management consultancy IT consultancy IT contractor IT facilities management IT hardware design IT hardware maintenance and repair IT hardware manufacture or assembly IT hardware sales and supply IT hosting services IT outsourcing IT outsourcing consultancy IT security - payment card industry (PCI) IT security - penetration testing IT security consultancy IT training Jazzercise Jewellers Jewellery design Jewish charity Journal Journalist Journey therapy Kettlebells Kilts/Tartan Accessories Manufacturers Kinesiology Kitchen Equipment Manufacturers Kitchen planners Kitchen planning and installing Kitchen showroom Kitchenware shop Knitwear Manufacturers Know your customer (KYC) analyst La stone therapy Label Printing Laboratory Lactation consultancy Landlord Landscape architecture Landscape gardening Landscaping Language school Language tuition Laser eye surgery Laser hair or tattoo removal Laser tattoo removal Laundrette Lava shell massage Law costs drafting Leaflet Distribution Learning and development Learning Disabilities Support Worker Lease Broking Leasing Leather goods shop Lecturing LED face mask LED light therapy Legal advisors Legal services Legionella assessing Leisure consultancy Lettings agency Library Library consultancy Licensing consultancy Life coach Life style consultancy Lighting Consultancy Lighting installation Lingerie Manufacturers Linguistics Lithographic Plate Makers Local education authority Local education authority inspector Locksmith Locum management Loft conversion Loft insulation Logistics company Logistics consultancy Loss adjusting Loss Assessing Luggage shop Magazine Magnetic Therapy Make-up Management consultancy Management training Mandir Manicure Manual lymphatic drainage Manual training Manufacturing Manufacturing Agency Mapping and cartographer Marina Marine Broking Market Market research Market research consultancy Marketing Marketing and advertising consultancy Marketing consultancy Marriage Guidance Masonic hall Masonry Massage - Initial Training And Advanced Masseur Mastic Sealant Contractors - Internal Maternity shop Mechanic Media buying Media consultancy Media production Mediators Medical agencies Medical communications Medical recruitment Medical research Medical writer Meditation instruction Members club Memorabilia dealer Mendhi henna painting Menswear Manufacturers Mental health charity Mental health homes Merger and acquisition (M&A) consultant Mesotherapy via dermapen Mesotherapy via dermaroller Mesotherapy via dermastamp Metalworking Meteorology Meter Reading Microbiology Microblading Microcurrent body treatment Microcurrent facial Microdermabrasion Midwife Milk Delivery Mind detox method therapy Mindfulness cognitive therapy (MBCT) Mindfulness stress reduction (MBSR) Mindfulness therapy Mindfulness therapy and training Mineralogy Mobile application developer Mobile phone repairs and accessories retailer Mobile phone shop Monumental Masons Mortgage broker Mortgage Broking Mortician Mosque Motivational therapist Motor cycle instructor Motor parts dealer Motor traders Movement programmes for people with neurological motor disorders Multi-modal therapy Museum Museum and exhibition consultancy Music consultancy Music hall Music producer Music school Music teaching Music therapy Music tuition Musical instrument retailer Myofascial release Nail art Nail bar Nail extensions Nail technician Nanny / Child Care Nature reserve Naturopathy Naval Architect Needlecraft, knitting and sewing shop Network and systems support Neuro linguistic programming Neuromuscular therapy Neuropsychology Newsagent Newspaper Night club No hands massage No needle mesotherapy Non-contact kickboxing Non-contact martial arts based fitness Non-destructive testing (NDT) Nordic walking Notaries Public Novelty store Nurse Prescriber Nurse prescribers Nursery school Nursing Nursing agency Nursing homes Nursing recruitment Nutritional therapist Nutritional therapy Nutritionist NVQ assessor NVQ training Obstetrician Occupational health consultancy Occupational health professional Occupational health providers Occupational therapist Off licence and bottle shop Office fitting and refurbishment Office supplier Ofsted inspector Oncologist Online broadcaster Online lettings agency Online publisher Operating Dept Practitioner Ophthalmologist Optician Opticians Optometrist Organ, specimen or blood transfers Organic food store Organisational consultancy Organisational psychology Ornamental garden Ornamental metal workers Ornithology Orthopaedics Orthotics Osteopath Other Outsourcing consultancy Overseas aid charity Oxygen facial Paediatrician Paint Consultancy Painting and decorating Palaeobotany Paraffin wax Paramedic Paramedic or ambulance service Parenting skills support Park Parkour Parts therapy Party venue Patent/Trademark Agents Pathologist Pathology Patient transfer Patisserie Paving and drive laying Pawn brokers Pay per click consultancy Payment card processor Payroll services Pebble Dashers Pedicure Pedorthist Pension administrator Perfumery and fragrance shop Perfusionists Person centred therapy Personal Shopping Services Personal trainer Personal training Personnel consultancy Pest and vermin control Pet Grooming Pet Minding Pet shop Pet supplies retailer Pet Walkers Petrol station Pharmaceutical consultancy Pharmaceutical regulatory consultancy Pharmacist Pharmacovigilance analyst Pharmacy Phenomenlogical therapy Phlebotomist Photocopying Photographic Agent Photographic studio Photography Photography agency Physical intervention training Physician Physicians Physiologist Physiotherapist Phytotherapy Piano tuner Picture framing Pier Pilates instructor Pilot Piloxing Pipe laying Pipeline Consultancy Pizza Delivery Place of worship Planetarium Planning Consultancy Plant and machinery hire Plastering, rendering and screeding Plastics Consultancy Play school Play therapy Playing field Plumber Podiatrist Polarity therapy Political Consultancy; Political Party Political lobbying or campaigning Polygraph testers Pop group Pornographic retailer Portable appliance testing (PAT) Post office Poverty charity Powerplate PPI complaints consultancy PPI complaints handling Preaching Pregnancy massage Pregnancy Testing Services Press Cutting Agency Press Office Pressure Cleaning (Excluding blast and tank cleaning) Price comparison website Primal therapy Print Finishing Manufacturers Printing Printing press Private ambulance Private bank Private Hire Private investigator Private school Private teaching Private tuition Probation officer Procurement consultancy Procurement of venues Product design Programme management Project co-ordination for construction Project co-ordination for non-construction Project management - business consultancy Project management - interior design Project management - IT Project management for construction Project management for non-construction Project management office (PMO) Project planner Proofreader Property Auditors Property Developer Property developers Property maintenance Property management Property owner Property owners Property search agency Property Services Prosthetics Psychiatry Psychoanalysis Psychoanalytic psychotherapy Psychodrama Psychodynamic counselling Psychodynamic psychotherapy Psychologist Psychosexual therapy Psychosynthesis Psychotherapeutic counselling Psychotherapy Pub Public body Public Records Search Company Public relations Public relations consultancy Public relations officer Public school Public speaking Publicity consultancy Publicity management Publisher Pump and Pumping Equipment Servicing Qi gong Quality assurance consultancy Quantity surveyor Racecourse Racetrack Radiation therapy training Radio station Radiographer Radiologist Radiotherapist Rag dealer Railway Rational emotive behaviour therapy Re-birthing breathwork Rebounding therapy Record and music shop Recording studio Recreation charity Recruitment agency Recruitment and HR consultancy Recruitment consultancy Reflexology Refrigeration engineers Refugee charity Refuse Treatment Consultancy Regeneration consultancy Reiki Relationship therapy Relaxation techniques (breathing, vibrational, sound, visual) Religious charity Religious establishment Religious or racial harmony charity Relocation consultancy Remedial & sports massage Removal Contractor Removers Renal Dialysis Technologist Renewable energy consultancy Reprographics consultancy Research centre Research consultancy Reseller Residential care Residential medical officer (RMO) Residents association Resistance training Respiratory Therapist Respite care Restaurant Riding school Risk assessment Risk management consultancy Road Surfacing Roadway Rolfing Roller shutter door installation Roofer Rugby club Running club Saddle fitter Saddler Safari park Safe installing and removing Safety consultancy Sale room Sales agent Sales promotion Sales promotion consultancy Salsa dancing Sandwich Delivery SAP implementation Satellite TV and aerial installing Scaffolding School School inspection and assessing Science charity Science consultancy Scout, guide or cadet group Scrap dealers Screen Printing Sculptors Search engine optimisation (SEO) Second hand shop Secondary intermediary Secretarial training Security and CCTV installing Security consultancy Self-employed teaching Semi- permanent mascara Server provider Sex shop Sexual health and aids testing Shed building Shelter Shiatsu massage Ship Broking Shipping and distribution Shoe shop Shooting range Shop fitting Sign and light erecting Signwriting Sikh charity Site investigation Site supervision Sleep counselling Smoking cessation services Smoothie, juice and milkshake shop Snooker or pool hall Social care consultant Social club Social media agency Social media consultancy Social media site Social worker Software consultancy Software engineering Soil testing Solar panel installers Solar PV and thermal engineer Solarium Solicitor Solicitors Solution focused brief therapy Sound and vision retailer Sound proofing Sound therapy Spa Speech and language therapy Spinning Spiritual coaching Sporting goods shop Sports and exercise psychology Sports and performance analysis Sports charity Sports club Sports coach Sports ground Sports injury and rehabilitation Sports injury treatment Sports massage Sports medicine Sports Promotion Sports rehabilitation Sports shop Sports stadium or ground Sports therapy Spray tanning Stadium Staffing agencies Stately home Stationer Statistician STD clinics Steel erecting Sterile Processing Technician Stockbroker Stonemasonry and dry stone walling Strategic consultancy Street dance instructor Stress and relaxation therapy Stress audits and management Stress management Strip club Structural engineers Substance abuse centre Sugaring Suit and shirt retailer Sunglasses shop Supermarket Surface Coating Consultancy Surgeon Surgery Surveyors Sustainability and waste management Swedish body massage Swimming pool Swimming pool constructing Swimming Pool Construction (Outdoors) Synagogue Systemic therapy Tachograph Analysis Tai chi Tailor Takeaway and fast food restaurant Talent manager Tanning salon Tanning technician Taping and strapping Taping, bandaging and strapping of sports injuries Tattoo parlour Tattoo removal clinic Tax advisor Tax consultancy Taxi office Taxidermist Tea shop Teaching Technical author Technical directing Technical equipment hirer Technical writing Technology consultancy Teeth whitening Telecommunications consultancy Telemarketing Telephone Answering Services Telesales Temporary water based tattoos Tennis club Terrorism consultancy Test centre Textile Consultancy Textile printer Thai body massage Theatre Thermal imaging consultancy Thought field therapy Threading Ticket Agency Tie Scarf and Neckwear Manufacturers Tiling Timber Decking Contractors Timber Treatment Consultancy Tinting And Bleaching Toaster Manufacturers Toastmaster Tobacconist Toiletry and cosmetics shop Tool hirer Tour operators Tourist Information Town hall Town planning Toy shop Trade association Trading standards consultancy Trading standards inspector Traditional crafts Traffic consultancy Training advisory service Training board Training centre Training consultancy Transactional analysis Translator or interpreter Transpersonal therapy Transport consultancy Transportation and warehousing Travel agency Travel centres Travel consultancy Travel health advice Travel health clinic Travel vaccinations Treatment centre Tree surgery Trichology Trigger point myotherapy Tui na massage Tuition Tupperware Turf accountants Turkish baths Tutor TV station Typesetters Typing and Copying Bureau UKAS testing laboratory Umbrella company Underwriting Agency Uniform Manufacturers University Upholsterer Urologist Utility company Valuer Valuer for insurance purposes Vending machine servicer Vet Veterans charity Vibrational healing (colour, light sound) Video and DVD store Video arcade Video blogger Videographer Village hall Vinegar Brewers Vineyard Vintner and wine merchants ViPR Vision mixing Visualisation Walk in health centre Waste disposal contractor Watch and clock retailer Wave and tidal engineer Waxing Weather Forecasting Web marketing Website consultancy Website design Wedding venue Weight loss clinics Weight training Welding Well woman clinics Wellbeing centre Wellbeing charity Wellness coaching Wheelie bin cleaner White goods retailer Wholesaler Wig and hair piece shop Wildlife habitat Will writing Wind power engineer Window and conservatory specialist Window cleaning Wine bar Working men’s club Writer Yoga Yoga instructor Youth charity Youth club Zero balancing Zone therapy Zoo Zoology Zumba Zumba instructor What's your annual turnover? Your turnover £ No thanks

Italian Officials Prepare Bitcoin Taxation Guidelines

On 2 September 2016, Italy’s taxation officials drafted a proposal on the taxation of Bitcoin transactions in the corporate world. The use of Bitcoin and other cryptocurrencies by individuals will not be affected if the motion passes. Bitcoin is not yet legally defined in Italy as a currency or a commodity, though it retains value. The proposal would be in opposition to the EU ruling that Bitcoin is exempt from taxation.

http://www.newsbtc.com/2016/09/05/italian-officials-prepare-bitcoin-taxation-guidelines/

The country of Italy is currently dealing with a looming banking crisis. The majority of its loans are not performing and are borderline junk. Despite those concerns, the topic of Bitcoin and regulation has to be touched upon as well. Local taxation official recently drafted a proposal to tax Bitcoin transactions in a corporate environment. Similarly to most other countries in the world, Italy has no clear legal definition for Bitcoin. It is not an official currency, nor a commodity. However, it has value and anything valuable can be taxed. Up until this point, there was no significant debate on whether or not Bitcoin taxation would go into effect in Italy. Bitcoin Taxation is On The Horizon Everything was rosy for Bitcoin in the country, up until September 2nd. At that time, the local taxation office drafted a proposal to introduce bitcoin taxation. This is not the most popular decision they will ever make, but it has not gone into effect just yet. For now, the proposal only seems to focus on companies dealing with Bitcoin and other cryptocurrencies. This approach is similar to what most other countries in the world have been doing. Consumers and other individuals who deal with Bitcoin will not be subject to this proposal, assuming it becomes a law in the end. One thing to keep in mind is how the Italian taxation office seems to be well aware of value gains, or losses Bitcoin brings to the table. This means that companies who hold part of a transaction in Bitcoin will also be taxed on its surplus value if the price rises. A similar concept could be applied to individual cryptocurrency owners later on, though. While this is nothing more than a proposal, it is in contrast to the EU ruling on Bitcoin. For now, the European Union has deemed Bitcoin exempt from taxation. Italy seems to go against the grain in this regard, although it remains unknown what will come of this decision. More information will be made available as this proposal goes through the official channels. Source: ForexInfo Header image courtesy of Shutterstock

Generali shares up 5% on report of Intesa, Allianz interest

Assicurazioni Generali has purchased voting rights of 3.01% of Intesa Sanpaolo's share capital, which would prevent the lender from a bigger stake of Italy's largest insurer. With Italian newspaper La Stampa reporting that Intesa could be purchasing a stake in Generali, we could be seeing part of a wider deal between the company and Allianz.

http://www.dailymail.co.uk/wires/reuters/article-4147562/Generali-shares-5-pct-report-Intesa-Allianz-interest.html

Italy's Generali buys 3 pct of Italian bank Intesa in defensive move By Valentina Za MILAN, Jan 23 (Reuters) - Assicurazioni Generali said on Monday it had bought voting rights equal to 3.01 percent of Intesa Sanpaolo's share capital, effectively blocking the lender from acquiring a large stake in Italy's biggest insurer. The move comes after newspaper La Stampa said that Intesa, one of Italy's biggest banks, was considering buying a stake in Generali and this could possibly be part of a broader deal between Intesa and Germany's Allianz. Under the scheme, the paper said, the German insurer could buy some of Generali's assets while Intesa would buy a stake worth between 5 and 6 billion euros to protect Italian interests in the insurer. Intesa and Allianz declined to comment. However, Generali's move, made through a securities lending transaction, would prevent Intesa from making such an investment. The stake Generali has acquired in Intesa is worth 1.2 billion euros, according to Thomson Reuters data. According to Italy's cross-shareholding regulations, a company cannot hold more than 3 percent of another entity's voting rights if the latter already has a stake of more than 3 percent in that company. This means Intesa could still buy more than 3 percent of Generali but its voting rights would be capped at 3 percent and it would be obliged to sell any stake above that level within a year. However, the limits would no longer apply should Intesa launch a takeover bid for at least 60 percent of Generali's share capital. Generali's shares rose more than 7 percent on Monday after the press reports and closed up 3.94 percent at 14.25 euros. The insurer's market value of 21 billion euros is less than half what it was at the onset of the financial crisis in 2007-2008. The company has repeatedly been at the centre of takeover speculation, with France's AXA often mentioned in media reports as a possible buyer. La Stampa said Allianz had already looked at making a bid for Generali last summer but had decided not to pursue it because of AXA's interest. The chief executive of Allianz, the third-largest insurer in the Italian market after Generali and UnipolSai Assicurazioni , said earlier this month he favoured a "big takeover" because buying small companies would not make sense. Analysts were sceptical about a possible three-way tie-up, saying it would likely trigger antitrust concerns in Italy for both the German company and the Italian bank, which also has an insurance business, Intesa Sanpaolo Vita. "Given the market share that Intesa Sanpaolo has reached in the life business a deal could raise antitrust problems," broker ICBPI said in a note. Generali's biggest shareholder and Intesa's domestic rival is Milanese investment bank Mediobanca, which has pledged to cut its 13 percent stake in the insurer to 10 percent and has said it could reduce it even further. Jean-Pierre Mustier, CEO of Mediobanca's major shareholder UniCredit, said in an interview this month that it was important for the country that Generali remained Italian and that Mediobanca had to preserve the insurer's independence.

Maharashtra distribution company warned over wind non-payments

The Maharashtra Electricity Regulatory Commission (MERC) has cautioned the Maharashtra State Electricity Distribution Company (MSEDCL) over its extended delay in paying wind power producers. The commission has cited the company's non-compliance with payment obligations to CLP Wind Farms India and CLP Wind Farms Khandke, along with failing to adhere to payment charges and previous MERC orders. MSEDCL has been given two weeks to settle debt payment schedules with both developers and submit a compliance report. After this period, the firm will be penalised at a rate of 1.25% of the delayed payment totals per month.

https://mercomindia.com/merc-warns-msedcl-wind/

The Maharashtra Electricity Regulatory Commission (MERC) has pulled up state’s DISCOM (MSEDCL) for the continued delay in meeting payment obligations to independent power producers, including delayed payment charge, and for disregarding the previous orders of the commission. CLP Wind Farms (India) Private Limited and CLP Wind Farms Khandke Private Limited had filed separate petitions against MSEDCL for non-compliance of payment obligations as stipulated in their wind energy purchase agreement (WEPAs), including delayed payment charges which are outstanding for substantial periods of time. CLP Wind Farms India is the developer of a 106.4 MW wind project at Andhra Lake and another 60 MW wind project at Jath in Maharashtra, while CLP Wind Farms Khandke is the developer of a 50.4 MW wind project at Khandke. In its order, the commission asked MSEDCL to reconcile the due payment schedule with both the developers within two weeks and submit a compliance report with the commission within two days. It has ordered MSEDCL to inform the petitioners about the payment time frame within which it would clear the dues, keeping in mind its financial constraints. The commission cautioned the MSEDCL that if it failed to comply with commission’s orders yet again, it would be subjected to penal charges at the rate of 1.25% per month on the delayed payment charges.

3D printing market expected to be worth $24bn by 2022

Spending on 3D printing is expected to surge over the next few years, with the global market predicted to be worth $24bn by 2022. A 23% rise in spending on 3D printing hardware, software, materials and services is expected in 2019 alone, according to research firm IDC. While the US is set to be at the forefront of 3D printing expenditure, at a predicted total of $5.4bn in 2019, western Europe will follow at $4bn, with China the third-largest spender at over $1.9bn.

https://www.irishtimes.com/business/technology/spending-on-3d-printing-set-to-explode-over-next-five-years-1.3589789

Worldwide spending on 3D printing is expected to rise by close to a quarter next year with the market forecast to be worth $24 billion (€20.7 billion) by 2022, according to new figures from research firm IDC. The company said spending is set to grow at a compound annual growth rate (CAGR) of 18.4 per cent over the next five years. Spending on 3D printing hardware, software, materials and services is forecast to rise by 23 per cent next year alone to more than $14 billion. Together, 3D printers and materials will account for roughly two-thirds of the worldwide spending total, reaching $7.8 billion and $8 billion respectively in 2022. Services spending is expected to grow to $4.8 billion in 2022, led by on-demand parts services and systems integration services. Purchases of 3D printing software will grow more slowly than the overall market with a five-year CAGR of 16.7 per cent. READ MORE "3D printing solutions are gaining traction outside of the traditional industries of aerospace and automotive manufacturing and healthcare," said Marianne Daquila, research manager, customer insights and analysis at IDC. “Professional services and retail will each see more than $1 billion in annual spending before the end of the forecast period, driven by the benefits of fully customised solutions,” she added. 3D-printed guns The forecast comes amid a furious row in the United States over 3D-printed guns. The battle about how to handle blueprints for plastic guns has gone on for some time, but blew up again last month after the US state department gave permission for an organisation known as Defense Distributed to release plans for 3D printed guns online. The leading use cases for 3D printing, according to IDC, are prototypes, aftermarket parts and parts for new products. These three use cases will account for 45 per cent of worldwide spending next year, according to the research firm’s forecast. Dental objects, medical support objects and tissue/organ/bone printing will all see five-year CAGRs exceeding 21 per cent, the company added. The US will be the region with the largest spending total in 2019 with $5.4 billion. It will be followed by western Europe with a combined spend of $4 billion. China will be the third-largest region with more than $1.9 billion in spending, followed by Asia/Pacific (excluding Japan) central and Eastern Europe, the Middle East and Africa. Close to home, chemical and consumer goods giant Henkel announced plans in late June to spend up to €18 million expanding its research and development capabilities as it opened a new 3D printing hub in Tallaght, Dublin.

EDF JV with Chilean power company AME plans more solar

EDF Group and Chilean electricity company AME are set to expand their joint venture beyond the current 115 MW Santiago solar project, according to Marianne Laigneau, EDF executive VP in charge of the international division. She said the recent acquisition of 750 MW of gas-fired generation from Chilean outfit AES Gener would help the JV "deliver on the expansion of its solar business".

http://renews.biz/111110/edf-eyes-chile-pv-push/

A joint venture between EDF Group and Chilean electricity company AME is planning to develop further renewable energy capacity in Chile. The announcement follows the JV's acquisition of 750MW of gas-fired generation in the South American country from AES Gener that EDF and AME will use to compensate for fluctuations in wind and solar output. EDF Group executive vice-president in charge of the international division Marianne Laigneau said: “With this acquisition, the EDF Group is consolidating its position in Chile and is acquiring flexible assets in order to deliver on the expansion of its solar business, which it has already embarked upon with its partner AME.”The JV already owns and operates the 115MW Santiago solar project in Chile.

Eze, Trade Informatics join forces on post-trade analytics

Investment software provider Eze Software has joined forces with quantitative trading analytics firm Trade Informatics to expand its post-trade analytics offering. By combining Trade Informatics' order profiling with Eze's systematic trading analytics solution, clients will be able to create a solid framework for best execution under the new EU MiFID II regulation, while keeping transaction costs low.

http://www.financemagnates.com/fintech/data/eze-software-partners-trade-informatics-push-towards-trade-analytics/?utm_source=daily_newsletter&utm_medium=email&utm_campaign=23.08.17

In a move to maximise its earnings and minimise trading costs, Eze Software, a provider of investment technology, has partnered with Trade Informatics, a provider of quantitative trading Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term for institutions, to enhance its post trade analytics. Register now to the London Summit 2017, Europe’s largest gathering of top-tier retail brokers and institutional FX investors With transaction costs making up much of the expenses of any trading company or fund manager, it is essential that investors and traders are able to analyse where they can cut down on costs and compare their strategies amongst themselves and also to industry benchmarks. Clients of Eze software will able to make these comparisons, which should allow them to improve their performance. Bill Neuman, Managing Director, Product Management & Development, Eze Software, said: “Trade Informatics delivers one of the most comprehensive, flexible and actionable TCA solutions in the market today. By combining TI’s comprehensive order profiling with the capability to act on trading decisions quickly and systemically, we are enhancing our clients’ ability to provide a solid framework for best Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term under MiFID II.” Eze Software expects its clients to be able to improve their alpha by using the trade analytics solutions provided by Trade Informatics to enhance their trading strategies and results..

US drug overdose epidemic has yet to peak

There is increasing alarm among experts that the US drug overdose epidemic, that kills more Americans than car crashes and guns, continues to steadily increase; overdose deaths have more than doubled over the past decade with half caused by prescription painkillers, but increasingly by heroin. Stigma and inadequate access to help are the biggest barriers in overcoming the crisis. The trend is now similar to that of the HIV epidemic in the late 1980s and early 1990s, said Robert Anderson, the C.D.C.’s chief of mortality statistics, earlier this year.

http://www.theguardian.com/society/ng-interactive/2016/may/25/opioid-epidemic-overdose-deaths-map

Original reporting and incisive analysis, direct from the Guardian every morning

Japan to build hydrogen community for Tokyo 2020 Olympic Village

Tokyo's Olympic Village will consist of a hydrogen-powered residential compound. The site, which will become a flagship neighbourhood for urban lifestyles after the games, will feature Japan's first full-scale hydrogen infrastructure system. The facility, based in Harumi, will consist of 5,632 flats, nursing homes, a daycare centre and other facilities. JXTG Nippon Oil & Energy is responsible for building and operating the hydrogen station, and will also provide both a hydrogen bus rapid transit system and a fleet of local fuel cell buses to connect urban and bay areas.

https://www.h2-view.com/story/japan-progresses-on-hydrogen-neighbourhood/

Japan progresses on hydrogen neighbourhood A hydrogen powered residential compound consisting of 5,632 privately-owned/rental flats, nursing homes, a day-care centre and other facilities is being built in Harumi, Japan. The project is scheduled to be completed in time for the Tokyo 2020 Games where the site will perform as the Olympic Village for the games. The new site will be a flagship neighbourhood for urban lifestyles. The neighbourhood is made up of five zones and will feature a full-scale hydrogen infrastructure system, the first of its kind in Japan. The Harumi Flag announcement followed the Government’s announced plans for the environment and sustainability, which stated ‘initiatives to build a hydrogen society’ back in 2016.

Core Lithium doubles life of mine with increased resources

Australian lithium company Core Lithium has reported a 159% increase in ore deposits to 5.7 million tonnes at its Finniss mining project, doubling the life expectancy of the mine to 10 years. The company used a scoping study and an Underground Pre-Feasibility Study to confirm the extra resources in the BP33, Carlton and Grants deposits and said it would update its own studies of the project prior to making a final investment decision. The announcement came soon after Core won state government approval for Finniss and an offtake agreement was signed with Transamine following a similar deal with Szechuan Yahua.

https://www.nationalresourcesreview.com.au/projects/lithium-project-mine-life-doubles-with-increased-resources/

Twin studies by advanced Australian lithium developer Core Lithium have shown a 159 per cent increase in ore reserves at its wholly-owned Finniss Project – doubling the projected Life of Mine (LOM) through underground mining at its BP33 and Carlton deposits alongside open pit mining at its Grants deposit. Finniss’ total ore reserves now stand at 5.7 million tonnes, supporting a 7-year LOM, with the prospect of achieving closer to a 10-year mine life when considering the project’s potential resource inventory. Previous studies had confirmed at least 3-5 years of lithium concentrate extraction from open pit mining at the Grants deposit, situated 25km south of Darwin. The increase was confirmed via an Underground Pre-Feasibility Study conducted in parallel to a Scoping Study, which enabled Core to confidently assess the true project potential and help direct immediate resource conversion and resource extension drilling efforts across its sites. The studies examined underground mining of the mineral resources for the Grants, BP33 and Carlton deposits. The deposits are located within a 3km radius and all ore would be trucked to the Grants processing plant before fulfilling offtake agreements overseas. Core’s Managing Director, Stephen Biggins, said the increases in reserves and mine life allows the company the chance to leverage the Finniss Project’s strength of location and production capacity to fully embrace infrastructure such as grid connection to power. “The updates – along with other key inputs – will be used to update Finniss’ complete Feasibility Study as we move towards a Final Investment Decision (FID) and our goal of being construction-ready later this year.” The resource increases follow in quick succession of more positive news for Core, including regulatory project approval in April from the NT Government and the signing of Core’s first European Offtake MOU with Geneva-based Transamine for 50,000tpa. This is in addition to an existing binding offtake for 75,000tpa with one of China’s largest lithium producers, Szechuan Yahua. “The downstream lithium battery supply chain and project financiers have recognised the significance of our recent regulatory approvals and the now extended feasible production capacity,” Mr Biggins said. Importantly, while the LOM of the Finniss Project has doubled, Core will not require substantial increases to the start-up capital to move ahead. “We expect to be engaging with project financiers in the second half of 2020 to reach FID and we are well engaged with a number of parties globally for the remaining offtake of Core’s high-quality lithium concentrate. “In the context of the substantial increases, coupled with additional demand for offtake, Core is also likely to consider expanding production and revenues from the Finniss Project above the current concentrate production capacity of 175,000tpa,” he concluded.

Leading facial recognition performs far worse on trans people

Leading facial-recognition software has been found to be misidentify transgender and non-binary individuals, according to a recent study at the University of Colorado Boulder. Researchers found that major tech company AI-based facial analysis tools — including Amazon’s Recognition and Microsoft’s Azure — regularly misidentified non-cisgender people. The software wrongly classified trans men roughly 30% of the time, while inaccurately categorising non-binary people in all instances. This shows great contrast to cisgender men and women who were accurately identified in 98% of cases.

https://qz.com/1726806/facial-recognition-ai-from-amazon-microsoft-and-ibm-misidentifies-trans-and-non-binary-people/

Facial-recognition software from major tech companies is apparently ill-equipped to work on transgender and non-binary people, according to new research. A recent study by computer-science researchers at the University of Colorado Boulder found that major AI-based facial analysis tools—including Amazon’s Rekognition, IBM’s Watson, Microsoft’s Azure, and Clarifai—habitually misidentified non-cisgender people. The researchers gathered 2,450 images of faces from Instagram, searching under the hashtags #woman, #man, #transwoman, #transman, #agenderqueer, and #nonbinary. They eliminated instances in which multiple individuals were in the photo, or where at least 75% of the person’s face wasn’t visible. The images were then divided by hashtag, amounting to 350 images in each group. Scientists then tested each group against the facial analysis tools of the four companies. Advertisement The systems were most accurate with cisgender men and women, who on average were accurately classified 98% of the time. Researchers found that trans men were wrongly categorized roughly 30% of the time. The tools fared far worse with non-binary or genderqueer people, inaccurately classifying them in all instances. The rising use of facial recognition by law enforcement, immigration services, banks, and other institutions has provoked fears that such tools will be used to cause harm. There’s a growing body of evidence that the nascent technology struggles with both racial and gender bias. A January study from the MIT Media Lab found that Amazon’s Rekognition tool misidentified darker-skinned women as men one-third of the time. The software even mislabeled white women as men at higher rates than white men. While IBM and Microsoft’s programs were found to be more accurate than Amazon’s, researchers observed an overall trend of male subjects being labeled correctly more than female subjects, and of darker skin drawing higher error rates than lighter skin. At present, there’s very little research on how facial analysis tools work with gender non-conforming individuals. “We knew that people of minoritized gender identities—so people who are trans, people who are non-binary—were very concerned about this technology, but we didn’t actually have any empirical evidence about the misclassification rates for that group of people,” Morgan Klaus Scheuerman, a doctoral student in the information-science department of the University of Colorado Boulder, said in a video about the study. The researchers believe that the algorithms rely on outdated stereotypes on gender, which further increases their error rates. Half of the systems misclassified Scheuerman, who is male and has long hair, as a woman. Such inconsistencies were observed across the board. For example, IBM’s Watson classified a photo of a man dressed in drag as female, while Microsoft’s Azure classified him as male. Advertisement The four companies whose products were tested have yet to comment on the study’s findings. Quartz reached out to them for comment and will update as necessary. In an update made to its website in September, Amazon noted that Rekognition isn’t designed to “categorize a person’s gender identity”, and the tool shouldn’t be used to make such a determination. The company states that its tool is best-suited for cases that don’t involve specific users. “For example, the percentage of female users compared to male users on a social media platform,” Amazon writes. Scheuerman said that while he believed Amazon’s guidelines were well-intended, the study points out what’s wrong with the service. There’s no guarantee that Rekognition’s clients are using the facial analysis tool as Amazon intended. And even if such data is viewed in aggregate, it would very likely still be incorrect. “It is not possible to ensure how gender classification is used by third-parties.” Scheuerman said. “While they recommend Rekognition only be used for aggregate gender distribution statistics, the results of such an analysis would never count trans people accurately, nor would they include other non-binary genders.”

Offshore campuses can be serious cashcows for Western universities

South Sydney’s Woollongong University (WU) opened a campus in Dubai sixteen years ago which educates thousands of students from multiple countries and is now known as one of the United Arab Emirates' "oldest and most prestigious universities", showing just how well-regarded degrees from Australian (and other Western countries’) universities have become abroad. The international program has been so successful for WU that it now boasts campuses in Singapore, Hong Kong and Malaysia, as well as Dubai, meaning over 50% of WU’s students are located outside Australia and pay steep international student fees. While many Western universities have set up overseas campuses, not all enjoy the success WU has achieved, although such a move is seen as a risk worth taking for extra revenue streams and marketing opportunities.

http://www.smh.com.au/nsw/could-building-campuses-offshore-be-the-future-for-australias-universities-20160719-gq8wsv.html

At Wollongong University's booming Dubai campus, thousands of students from scores of countries are studying – in English – for undergraduate and postgraduate degrees in business, finance, IT, engineering and media. Operating as an accredited university for just 16 years, UOWD is billed as one of the United Arab Emirates' "oldest and most prestigious universities" – a small sign of the pace of change in the area of transnational education – and of the market value of an Australian degree. Wollongong has more than 11,000 international students, and more than half of them study at the university's overseas locations, in the UAE, Singapore, Hong Kong and Malaysia. Fees are about the same as international students pay in Wollongong. University of Wollongong in Dubai enrolments have surged by 41 per cent in the past five years. Over the past five years, Wollongong Dubai's enrolments have surged by 41 per cent. It's the flipside of Australia's well-known international student boom, where the past decade has seen extraordinary growth in overseas students coming to live and study in Australia, injecting $19 billion into our economy in 2015. Australia is the third most popular destination for international students globally, after the US and Britain. But a number of Australian universities – notably Wollongong, Monash, Curtin and RMIT – have invested heavily in the risky business of offshore campuses, and are thriving.

Ageas launches AI to analyse automobile incidents

The UK’s third largest motor insurer Ageas has begun using innovative artificial intelligence technology to analyse crash sites and streamline the claims process. The software can parse photography of damaged vehicles and evaluate potential claims, cutting costs and allowing engineers the resource to work on more complex cases.

https://www.law360.com/articles/925557/uk-insurer-launches-ai-to-analyze-crash-data

By William Shaw (May 18, 2017, 5:25 PM BST) -- Ageas U.K., the country's third biggest motor insurer, said Thursday that it has adopted revolutionary artificial intelligence to analyze car crash photos and speed up claims handling.... Stay ahead of the curve In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. Access to case data within articles (numbers, filings, courts, nature of suit, and more.) Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc. Create custom alerts for specific article and case topics and so much more! TRY LAW360 FREE FOR SEVEN DAYS

Offshore wind delivered 32 TWh power to the UK in 2019

The UK's offshore wind sector delivered 32 TWh of electricity in 2019, while 1.8 GW went live the same year, bringing total capacity to 9.7 GW, according to the Crown Estate's Offshore Wind Operational report. It revealed the top five UK schemes generated a third of offshore wind energy, and said the sector had a 4.4 GW pipeline.

https://renews.biz/61103/uk-offshore-wind-supplied-32twh-in-2019/

The Crown Estate operational report says top five projects delivered one-third of output UK offshore wind farms delivered 32 terrawatt-hours of electricity in 2019, according to The Crown Estate 2019 Offshore Wind Operational Report. The report said that the top five projects supplied over one-third of offshore wind power, with the overall total enough to power 30% of UK homes. The Crown Estate said that 1.8GW of new capacity became fully operational in 2019, bringing the total to 9.7GW. A further 4.4GW is under construction, it said. “Less than 20 years on from the first offshore turbines being installed in British waters at Blyth in Northumberland, the UK remains number one in the world for offshore wind installed capacity, a testament to the professionalism and vitality of the UK offshore wind sector,” Crown Estate said. The Crown Estate head of offshore assets Adrian Fox said: “This year’s Offshore Operational Wind Report underscores the UK’s industry growth from demonstration to a mature world-class industry in less than 20 years. “The long-term outlook for the years and decades ahead remains robust, given added momentum by the UK’s inspiring 2050 Net Zero commitment.”

Greece sets £67.16/MWh cap for April's 500 MW wind, solar tender

The Greek government has placed a €61.32 ($66.93)/MWh ceiling tariff on its upcoming 2 April tender for 500 MW of wind and solar. Officials said 700 MW worth of bids must be received to ensure the full tender is allocated. In April 2019, Greece's first hybrid tender drew the nation's lowest price of €0.053/kWh for a 60 MW solar farm developed by EDF.

https://www.pv-magazine.com/2020/02/07/greeces-second-pv-wind-auction-to-tender-500-mw-in-april/

The tender will have to be 40% over-subscribed to allocate the full 500 MW of new project capacity. Greece’s next renewable energy tender, on April 2, will include solar and wind power and will feature a €61.32/MWh (€0.06132/kWh) price ceiling. Interested bidders have until February 25 to pre-qualify for the procurement exercise and must hold a generation license issued by energy regulator the RAE and a grid connection agreement. Bidders will also have to pay a €5,000 fee and submit acceptable financial letters of guarantee. Competition requirements applied to the tenders mean bids for 700 MW of generation capacity must be received for the full 500 MW of projects to be allocated. If the tender is less than 40% oversubscribed, the amount of new projects awarded will be reduced proportionately. Projects definition The tender will be open to solar facilities with a generation capacity of at least 20 MW, which can be aggregated from project groups as long as they contain at least two solar farms and connect to the grid via a single substation. Clusters of joint PV and wind projects using a single substation can also bid provided they have a total capacity larger than 50 MW. For wind projects the minimum capacity is 50 MW, which can also be aggregated from smaller projects through one substation and the procurement round is also open to PV and wind projects previously granted ‘strategic investment’ status by the government. The first such PV-wind capacity tender, held in April, attracted the nation’s cheapest clean energy electricity price – €0.053/kWh for a 60 MW solar farm developed by French state-owned utility EDF. Greece’s new business landscape Popular content Dionysios Papachristou, coordinator of RAE’s renewable energies auction team and director of the regulator’s press and public relations office, told pv magazine Greece’s renewable energy tenders have been successful in many ways. Papachristou said the transparent auction regime had steadily driven down the cost of clean energy since a pilot tender in December 2016 and had fostered a market-driven energy business culture in Greece. The regulator holds regular events to help inform energy investors. “We try to be open, communicate the competitive character of the tender regime and reach down to investors with specific-themed seminars,” said Papachristou. “This is an entirely new reality.” The regulator has come in for heavy criticism because of a huge backlog in processing the generation license applications required by renewables developers to be eligible to compete in national capacity auctions. Papachristou said that was chiefly down to lack of staff in an organization dealing with successive waves of regulatory reform and a huge number of license applications. The pro-business government of Kyriakos Mitsotakis which was elected last year announced last month a new digital licensing regime will be adopted which will ease the responsibility of the RAE to laboriously process applications. The new system will be ushered in as part of the government’s aim to add 5 GW of solar generation capacity by 2030.

Credit Suisse, UBS making structural changes to their Asian capital markets

In the last few days, Credit Suisse and Union Bank of Switzerland (UBS) have made structural changes to their Asian capital market units. Yeoh Choo-Guan, who has 15 years of experience with UBS, has been appointed Head of the Association of Southeast Asian Nations (ASEAN) equities, with Ali Naqvi having been appointed Head of Global Markets for Asia pacific and Credit Suisse. Brian Yoon, previously Co-Head of Global Markets and Head of Asia Pacific Fixed Income, will continue to work for Credit Suisse as an overall risk strategy advisor.

http://www.finews.asia/finance/22595-ubs-credit-suisse-asia-moves

In the past few days Switzerland's two largest banks, Credit Suisse and UBS, have both made structural changes to their capital markets units. With over 15 years of service with the Swiss bank UBS, Yeoh Choo-Guan has been appointed Head of ASEAN Equities. She will report to Taichi Takahashi, Head of Asia Pacific Equities. Yeoh was most recently Head of Equities for Singapore and Malaysia and previously served as Head of ASEAN Client Trading. Meanwhile news financial news agency «Bloomberg» reported that Ali Naqvi (pictured below) has been appointed Head of Global Markets for Asia Pacific at Credit Suisse. He will oversee the fixed income business in addition to his existing role as regional head of equities. Brian Yoon, who was previously Co-Head of Global Markets with Naqvi, will step down from that role and from the Head of Asia Pacific Fixed Income role, and will stay on as an adviser on overall risk strategy for the bank.

MPs question sense of pushing gas, but cutting CCS

The UK Government is putting the country's climate targets at risk, according to MPs, by promoting the use of more gas and abandoning support for carbon capture and storage (CCS). The MPs' report says ending support for CCS seems to be in direct contradiction to the government’s renewed focus on gas. A more substantial, long-term role for gas will depend heavily on the successful commercialisation of CCS technologies. The government’s enthusiasm for gas needs to be seen in the context of the December Paris Climate agreement, which sets a net zero global emissions goal for the second half of the century.

http://www.carbonbrief.org/gas-without-carbon-capture-puts-uk-climate-goals-at-risk-say-mps?utm_source=Daily+Carbon+Briefing&utm_campaign=be894b1183-cb_daily&utm_medium=email&utm_term=0_876aab4fd7-be894b1183-303464657

The UK government is putting climate targets at risk by pushing for more gas while scrapping support for carbon capture and storage (CCS), according to MPs. A House of Commons Energy and Climate Change (ECC) Committee report says ending support for CCS seems to be in “direct contradiction” with the government’s renewed focus on gas. It adds that pursuing gas “cannot get the UK to its 2030 and 2050 carbon targets without CCS”. Carbon Brief sums up the report, which echoes other recent findings on CCS and carbon budgets. Dash for gas Amber Rudd, the UK’s secretary of state for energy and climate change, has put heavy emphasis on securing new gas generation and a UK shale gas industry. The Department for Energy and Climate Change (DECC) expects 27 gigawatts (GW) of new gas capacity to be built over the next 20 years, against 32GW operating today. In the short term, some new gas capacity will be needed to secure electricity supplies as the UK phases out coal, though there is disagreement over the quantity needed. Bizarrely, however, Rudd has referred to gas as “low carbon”, despite it being a fossil fuel. The committee notes that each unit of electricity from gas emits 400 grammes of CO2, far above the 2030 target of 100gCO2/kWh recommended by the Committee on Climate Change (CCC). CCS is the “only practicable way to close this gap”, the MPs say. Yet the government has recently pulled its £1bn CCS commercialisation scheme, a move the MPs call “disappointing”. This and other recent policy changes “are damaging investor confidence in the UK energy sector”, the committee adds. Chris Littlecott, head of fossil fuel transition at thinktank E3G, says in a statement: “Amber Rudd’s ‘energy reset’ speech in November was aimed at securing massive investment in new gas power plants. But just one week later the Treasury’s CCS cuts pulled the rug from underneath this strategy. Government needs to respond with a credible CCS plan, or it will see the investment gap continue to widen.” According to the MPs, the decision on CCS “seems to be in direct contradiction with the direction of energy policy”. The report says: “With gas and without CCS, we will not remain on the least cost path to our statutory decarbonisation target. If government is still committed to its decarbonisation targets, it cannot afford to sit back and simply wait and see if CCS will be deployed at the moment when it is needed.” The UK now needs a clear CCS strategy, the MPs say, setting out when the government expects CCS to be deployed and in what quantity. The government should publish this by summer 2016, they add. Energy minister Andrea Leadsom recently rejected this idea, calling a CCS strategy “unnecessary”. Angus MacNeil MP, chair of the ECC Committee, says in a statement: “If we don’t invest in the infrastructure needed for carbon capture and storage technology now, it could be much more expensive to meet our climate change targets in the future. Gas-fired power stations pump out less carbon dioxide than ones burning coal, but they are still too polluting.” Dr Luke Warren, chief executive of the Carbon Capture and Storage Association, says in a statement: “The spending review decision to withdraw funding for CCS has had an extremely negative impact on the industry. What may have seemed like a good short-term saving risks loading significant costs onto the UK economy in the longer-term as the cost of meeting decarbonisation goals will increase substantially if CCS is not available.” Need for CCS The committee is far from alone on stressing the need for CCS. Successive governments have pursued CCS competitions, commercialisation schemes and projects for over a decade. In 2014, prime minister David Cameron said CCS was “absolutely crucial if we are going to decarbonise effectively”. The 2015 Conservative manifesto promised £1bn for CCS. The Committee on Climate Change says CCS will be “vital” to meeting longer-term climate goals and that the alternatives would be “substantially more expensive”. Matthew Bell, the CCC’s chief executive, explained the reasons for this view in an in-depth interview with Carbon Brief last week. Bell said: “The thing with CCS is that it opens up a whole range of options, whether it is the continued ability to use gas through the 2030s and the 2040s, whether it is the continued ability of the UK to host heavy industry, energy intensive and carbon intensive industry, whether it is the continued ability to continue to heat, using gas, or to in fact use biomass consistently going forward and how that contributes to carbon budgets. CCS provides an option on all of these things.” Last September, an industry-backed report said CCS was “essential” for a climate-friendly UK shale gas industry and some estimates suggest decarbonising without CCS would be substantially more expensive. Jim Watson, director of the UK Energy Research Centre (UKERC), says in a statement: “The lack of an active CCS programme makes UK energy policy look incoherent. Given that the government wishes to replace coal-fired power with gas as part of its emissions reduction plans, significant CCS deployment will be increasingly essential. Otherwise, gas demand is likely to have to fall sharply from the mid-2020s onwards.” Watson told Carbon Brief last year: “A more substantial long-term role for gas will depend heavily on the successful commercialisation of carbon capture and storage technologies.” Later this month, UKERC will publish a report on the future of gas in the UK. This spring, the CCC will report on whether a UK shale gas industry is compatible with legally-binding carbon targets. Paris context The government’s enthusiasm for gas needs to be seen in the context of the December Paris climate agreement, which sets a net-zero global emissions goal for the second half of the century. Prof Stuart Haszeldine, professor of CCS at the University of Edinburgh, says in a statement: “Protecting the Earth’s atmosphere and oceans means taking carbon emissions to zero. The UK is a country that plans to reduce carbon emissions to zero by burning more carbon as gas.” The UK also has its own, legally-binding climate target of an 80% cut on 1990 emissions by 2050. The UK’s fifth carbon budget for 2028-2032 has to be set in law by the end of June. It would be hard to justify watering down the CCC’s recommended target, given its post-Paris advice that the suggested goal is a “minimum”. A DECC spokesperson says in a statement: We haven’t closed the door to CCS technology in the UK, but as part of our ongoing work to get Britain’s finances back on track, we have had to take difficult decisions to control Government spending. CCS should come down in cost and we are considering the role that it could play in the long-term decarbonisation of the UK. We are committed to meeting our climate change targets in a way that is affordable and provides secure energy to our families and businesses. What role does the government expect CCS to play in the UK’s approach to meeting those targets? We will have to wait and see. Main image: Worker turning a valve of gas fired power station, 11 Feb 2015.

Vodafone announces Inmarsat IoT venture

Inmarsat and Vodafone have entered into a joint Internet of Things (IoT) venture to provide connectivity in remote areas of the world. Vodafone has signed a roaming contract to allow customers access to Inmarsat's satellite network via IoT to transmit data. Examples of this service include tracking a driverless car or monitoring an offshore oil rig: two scenarios where conventional internet access would not be available yet both require an ultra-fast, low-cost network. This joint venture does not require any financial participation from Inmarsat and Vodafone although it will be an important part of Vodafone's strategy for customer growth.

http://www.cityam.com/251723/vodafone-and-inmarsat-team-up-internet-things-

Vodafone and Inmarsat team up on Internet of Things Telecoms firm Vodafone and satellite operator Inmarsat have teamed up to connect things in remote parts of the world to the internet. Vodafone has signed a roaming agreement with Inmarsat that allows it to offer customers access to Inmarsat’s satellite network to transmit data. It's expected to be used for things like monitoring an oil rig at sea or a driverless car on the road where internet access via traditional networks is not available. “On a driverless car, or a truck or an oil rig, an ultra-fast reliable and low-cost network is paramount,” Rupert Pearce, Inmarsat chief executive told the Financial Times. Read more: What the Internet of Things means for marketers The so-called Internet of Things – which connects formerly offline electronic equipment to the internet – has failed to capture the hearts of consumers but it's expected to become increasingly common among corporates for use in supply chain management and automation. The deal does not involve any financial commitment from either Vodafone or Inmarsat but its expected the tie-up will be a corner stone of Vodafone's strategy to grow its customers. The satellite industry has struggled in recent years as the predicted rise in demand for its services has failed to materialise due to the astronomical costs associated with launching and maintaining networks. An increase in competition from lower cost, higher-capacity systems has also weighed on industry incumbents. Read more: Engineers urge the UK government to speed up in a space race It's hoped that the growing interest from telecoms firms in 5G networks could be a driver for the industry and Vodafone has recently signalled its interested in developing next generation connectivity. Inmarsat recently got a boost from a $650m (£534m) placing of convertible debt, $50m more than the original deal size after “considerable demand” for the bonds, though the company's share price has slumped to almost half of its 2015 highs.

ISIS offensive on Libyan oil fields undermining fragile political situation

ISIS has this week launched an offensive on two of Libya’s largest oil terminals. Since the attacks began on 4 January, there has been heavy fighting at Sidra and Ras Lanuf. These ports are capable of processing 640,000 barrels of oil per day, worth approximately $23m. Five of the oil storage facilities are reportedly on fire, despite the efforts of fire fighters at the scene. A spokesman for the Petroleum Facilities Guards announced that 30 ISIS fighters had been killed along with nine guards. There is debate over ISIS’s motivation for this offensive. Some observers have suggested that the group is seeking to add Libyan oil to its funding sources now that its outlets in Iraq and Syria are coming under pressure. Others have said that the move is more about power projection than immediate economic potential. The attacks are undermining Libya’s fragile political arena, exacerbating divisions between the government in Beida and the Petroleum Facilities Guard led by federalist Ibrahim Jadhran.

http://uk.businessinsider.com/isis-is-going-after-libyas-oil-2016-1?utm_source=feedburner&utm_medium=referral?r=US&IR=T

In this this file photo released on May 4, 2015, on a militant website, which has been verified and is consistent with other AP reporting, Islamic State militants pass by a convoy in Tel Abyad, northeast Syria. Militant website via AP The Islamic State appears to be trying to add Libyan oil to its source of funding, now that its control of energy outlets in Iraq and Syria are no longer uncontested. Attackers set fire on Monday to a crude oil storage tank linked to the Ras Lanuf oil facility, and car bombs were detonated at the entry to the oil port of Es Sider, according to a spokesman for the country’s National Oil Co. Both targets are key oil ports on the coast of Libya’s Bay of Sidra, about 400 miles east of the country's historic capital, Tripoli. The spokesman said he could not identify those responsible for the attacks, but two other people, identified by The Wall Street Journal only as Libyan officials, blamed fighters of the Islamic State, also known as ISIS, ISIL and Daesh. The group has a strong presence in the two cities. The reason for the attacks appears clear. The Islamic State has been financing its operations in large part by seizing oil production centers in Iraq and Syria, but the effort has been undermined by repeated air attacks from U.S.-led coalition in the region. IS now appears to be turning to Libya as a fresh source of funds. Ras Lanuf and Es Sider are good places to start. Together the ports have a capacity to ship nearly half of the more than 1.6 million barrels a day that, in peacetime, Libya is capable of producing, though they have been shut down for more than a year. Libya’s output now is less than one-fourth of that amount. The country has been torn by civil war since its former leader, Col. Muammar Gadhafi, was toppled and killed in 2011. Two governments – one based in Tripoli and the other in Bayda in the east – and are vying to control the country and its huge oil reserves. Recently, however, they signed a power-sharing agreement, brokered by Morocco, that would set up a unity government by mid-January. But it’s not clear whether the two sides will cooperate and, even if they do, they can restore Libya’s oil production to the levels before Gadhafi’s death. Meanwhile, the West reportedly plans a major offensive in Libya to defeat IS, or at least to deprive it of oil financing. Britain’s Daily Mirror reports that units of the Special Air Service (SAS), the kingdom’s special military force, have been sent to Libya to prepare for the arrival of about 6,000 Western soldiers and marines, including from Britain, France and the United States and led by Italy. The Western offensive is expected to begin within the next several weeks, the newspaper reported Sunday. The Mirror said IS’ chief goal is Libya’s Marsa al Brega oil refinery, also on the Gulf of Sidra, about 50 miles east of Ras Lanuf and the largest such facility in North Africa. This would give the militants control of most of the country’s oil wealth. The article said SAS forces are advising Libyan commanders on battlefield tactics, and are gathering intelligence on the military situation in the country to Britain’s chief of joint operations, Lt. Gen. John Lorimer, so he can decide whether to request the presence of more warplanes of the Royal Air Force (RAF) in nearby Cyprus, which serves as an RAF base for the kingdom’s operations in Iraq and Syria.

SoCal Edison seeks $760m public funds for 48,000 EV charge points

Fresh from being granted $356m of taxpayers' money to build electric vehicle (EV) charging stations for buses and lorries, power company Southern California Edison is looking for another $760m to create 48,000 recharging points for cars. The utility anticipates the programme will last four years and help the state meet its green energy and pollution targets.

https://www.greentechmedia.com/articles/read/socal-edison-seeks-760m-to-build-48000-new-ev-charging-stations#gs

Southern California Edison filed a proposal with the California Public Utilities Commission Tuesday, seeking $760 million in ratepayer funds to install 48,000 additional electric-vehicle charging ports over four years. This marks an expansion of SCE's existing Charge Ready program, with a budget to build 1,250 charging stations at 60 different locations across the utility's service territory. SCE recently installed its 1,000th EV charging station and is on track to wrap up this phase of the program by the end of the year. The Tuesday filing comes shortly after SCE won commission approval to spend $356 million in ratepayer funds on expanding EV charging infrastructure for trucks, buses and other industrial vehicles. If regulators green-light the latest proposal at the requested funding level, SCE's charging program spending would come to more than $1.1 billion. The utility underscored that supporting vehicle electrification will help meet California's stringent greenhouse gas reduction targets, as mandated by law. “Achieving California’s ambitious goals for reducing air pollution and harmful greenhouse gas emissions will require 7 million electric cars on California highways by 2030,” Caroline Choi, SCE senior vice president for regulatory affairs, said in a statement. “Taking Charge Ready to the next level will allow SCE to develop charging infrastructure needed to support a big portion of those cars.” Most of the charging stations added during Charge Ready’s pilot phase were installed in workplaces, schools, hospitals and other destination centers. In the proposed second phase, SCE wants to increase access to chargers in apartment and condominium complexes and deploy at least 30 percent of charging stations in communities that are disproportionately affected by pollution and economic hardship. If the second phase is approved, SCE also plans to launch a marketing and customer-education campaign to increase EV awareness. In addition, "SCE’s Charge Ready 2 portfolio encourages customers to help California use abundant renewable power and improve use of the electric system through [time-of-use] price signals and other load management strategies," according to utility testimony. By shifting EV load to hours of the day when there is excess generation on the grid, driven by large- and small-scale solar projects, the load is less costly to serve, which the utility said provides downward pressure on costs and eventually on rates. The latest proposal largely follows the infrastructure model developed for the first phase of Charge Ready, "where SCE deploys, owns and maintains the electric infrastructure needed to serve charging equipment for light-duty vehicles (up to and including the make-ready stubs)," the filing states. However, up to 4,230 charging ports could be owned and operated by the utility at multi-dwelling units and government facilities. Pacific Gas & Electric currently operates the largest utility-sponsored EV charging program in the country, with a budget of $130 million to build 7,500 Level 2 chargers. PG&E initially proposed a $654 million charging program in February 2015, but the CPUC rejected the plan.

**Moody's announces completion of a periodic review of ratings of Burford Capital Limited

Moody's Investors Service has completed a periodic review of the ratings of Burford Capital Limited. The review did not involve a rating committee. The Ba3 corporate family rating reflects the company's superior profitability, low leverage and strong liquidity position. The rating also takes into consideration the firm's high asset risk characteristics that could increase asset and earnings volatility.

https://finance.yahoo.com/news/burford-capital-plc-moodys-announces-213310064.html

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Burford Capital Limited Global Credit Research - 20 Jul 2020 New York, July 20, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Burford Capital Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history. Key rating considerations are summarized below. Burford's Ba3 corporate family rating reflects the company's superior profitability, low leverage and strong liquidity position. Burford's strong competitive positioning in litigation finance, experienced management and highly qualified legal staff strengthen its business proposition, supporting its robust operating performance. The rating also takes into consideration the firm's high asset risk characteristics that could increase asset and earnings volatility, high growth, and less developed debt funding structure compared to many finance companies. Additionally, Burford's niche business is based on specialized and opaque underwriting and investment management and its earnings include a high proportion of unrealized gains, a lower quality source of earnings. However, adjusting for this, Burford's performance is still very strong. This document summarizes Moody's view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period. The principal methodology used for this review was Finance Companies Methodology published in November 2019. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology. This announcement applies only to EU rated and EU endorsed ratings. Non EU rated and non EU endorsed ratings may be referenced above to the extent necessary, if they are part of the same analytical unit. This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history. Mark L. Wasden Senior Vice President Financial Institutions Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Ana Arsov MD - Financial Institutions Financial Institutions Group JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Releasing Office: Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 © 2020 Moody's Corporation, Moody's Investors Service, Inc., Moody's Analytics, Inc. and/or their licensors and affiliates (collectively, "MOODY'S"). All rights reserved. CREDIT RATINGS ISSUED BY MOODY'S INVESTORS SERVICE, INC. AND/OR ITS CREDIT RATINGS AFFILIATES ARE MOODY'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY'S (COLLECTIVELY, "PUBLICATIONS") MAY INCLUDE SUCH CURRENT OPINIONS. MOODY'S INVESTORS SERVICE DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. SEE MOODY'S RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODY'S INVESTORS SERVICE CREDIT RATINGS. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS, NON-CREDIT ASSESSMENTS ("ASSESSMENTS"), AND OTHER OPINIONS INCLUDED IN MOODY'S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. MOODY'S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY'S ANALYTICS, INC. AND/OR ITS AFFILIATES. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MOODY'S ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. MOODY'S CREDIT RATINGS,ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS,ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS IS" without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. However, MOODY'S is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications. To the extent permitted by law, MOODY'S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability to any person or entity for any indirect, special, consequential, or incidental losses or damages whatsoever arising from or in connection with the information contained herein or the use of or inability to use any such information, even if MOODY'S or any of its directors, officers, employees, agents, representatives, licensors or suppliers is advised in advance of the possibility of such losses or damages, including but not limited to: (a) any loss of present or prospective profits or (b) any loss or damage arising where the relevant financial instrument is not the subject of a particular credit rating assigned by MOODY'S. To the extent permitted by law, MOODY'S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability for any direct or compensatory losses or damages caused to any person or entity, including but not limited to by any negligence (but excluding fraud, willful misconduct or any other type of liability that, for the avoidance of doubt, by law cannot be excluded) on the part of, or any contingency within or beyond the control of, MOODY'S or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with the information contained herein or the use of or inability to use any such information. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY CREDIT RATING, ASSESSMENT, OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Moody's Investors Service, Inc., a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by Moody's Investors Service, Inc. have, prior to assignment of any credit rating, agreed to pay to Moody's Investors Service, Inc. for credit ratings opinions and services rendered by it fees ranging from $1,000 to approximately $2,700,000. MCO and Moody's investors Service also maintain policies and procedures to address the independence of Moody's Investors Service credit ratings and credit rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold credit ratings from Moody's Investors Service and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually at www.moodys.com under the heading "Investor Relations — Corporate Governance — Director and Shareholder Affiliation Policy." Additional terms for Australia only: Any publication into Australia of this document is pursuant to the Australian Financial Services License of MOODY'S affiliate, Moody's Investors Service Pty Limited ABN 61 003 399 657AFSL 336969 and/or Moody's Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569 (as applicable). This document is intended to be provided only to "wholesale clients" within the meaning of section 761G of the Corporations Act 2001. By continuing to access this document from within Australia, you represent to MOODY'S that you are, or are accessing the document as a representative of, a "wholesale client" and that neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to "retail clients" within the meaning of section 761G of the Corporations Act 2001. MOODY'S credit rating is an opinion as to the creditworthiness of a debt obligation of the issuer, not on the equity securities of the issuer or any form of security that is available to retail investors. Additional terms for Japan only: Moody's Japan K.K. ("MJKK") is a wholly-owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly-owned by Moody's Overseas Holdings Inc., a wholly-owned subsidiary of MCO. Moody's SF Japan K.K. ("MSFJ") is a wholly-owned credit rating agency subsidiary of MJKK. MSFJ is not a Nationally Recognized Statistical Rating Organization ("NRSRO"). Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. Non-NRSRO Credit Ratings are assigned by an entity that is not a NRSRO and, consequently, the rated obligation will not qualify for certain types of treatment under U.S. laws. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. 2 and 3 respectively. MJKK or MSFJ (as applicable) hereby disclose that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MJKK or MSFJ (as applicable) have, prior to assignment of any credit rating, agreed to pay to MJKK or MSFJ (as applicable) for credit ratings opinions and services rendered by it fees ranging from JPY125,000 to approximately JPY250,000,000. MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements. ​​​​​​​​

Shopify shares jump 7% on strong Q2 results

Shopify shares rose 7.2% in premarket trading following the company reporting Q2 revenue rose 97% to $714.3 m, beating estimates of $513.83m.

https://www.cnbc.com/2020/07/29/shopify-shop-q2-2020-earnings.html

Popular stock Shopify jumped on Wednesday after the Canadian e-commerce company beat estimates for second-quarter revenue as more brick-and-mortar retailers used its online platform during coronavirus-led lockdowns. Shopify shares, which investors have bought en masse amid the Covid-19 pandemic, have rallied more than 100% over the last six months as consumer and business owners shift commerce online to slow the spread of the disease. Shares rose 7.2% in premarket trading following the results, further extending Shopify's lead over Royal Bank of Canada as the country's largest company by market value. That uptick in demand for e-commerce platforms accrued to Shopify in the second quarter. The company reported Wednesday morning that second-quarter revenue rose 97% to $714.3 million from a year earlier, beating the average analyst expectation of $513.83 million, according to Refinitiv IBES data. "The strength of Shopify's value proposition was on full display in our second quarter," Shopify Chief Financial Officer Amy Shapero said in a release on Wednesday. "We are committed to transferring the benefits of scale to our merchants, helping them sell more and sell more efficiently, which is especially critical in this rapidly changing environment." Shopify said in its earnings release that the ongoing effect of the Covid-19 pandemic has accelerated the shift of consumer purchasing habits to e-commerce. New stores created on Shopify grew 71% in the second quarter compared to the first quarter while gross merchandise volume popped 119% year over year. The company had already turned heads on Wall Street prior to its blockbuster earnings report. Goldman Sachs, which up until Tuesday had rated the Ottawa-based stock at "neutral," penned a mea culpa earlier this week and upgraded the equity to "buy." The bank reiterated its recently increased price target of $1,127, which represents more than 14% upside from Tuesday's close. "With a unique customer acquisition funnel that has not only found unmatched success in SMB but increasingly the enterprise segment as well, we believe SHOP should be able to sustain hyper-growth for longer than the market expects," Goldman's Christopher Merwin wrote on Tuesday. — Reuters contributed to this report.

Communist China needs its middle classes to help it through its economic upheaval

A report says that for China to survive its present upheavals, such as environmental damage, undeveloped healthcare system, economic pressures and an ageing population, the country needs to necessitate the emergence of a real middle class; it is crucial that its Communist Party allows a society with more freedoms and choices to evolve.  

http://www.cityam.com/226194/china-must-pander-its-rising-middle-class-see-crisis

China must pander to its rising middle class to see off this crisis China has emerged as the world’s second largest economy, with its growth breaking every record, even surpassing that seen in Germany and Japan after the end of World War Two. Since 2010, China has represented over 50 per cent of the world’s incremental GDP growth, with its fortunes carrying enormous implications for international investors and the global economy. Many visitors to China’s dynamic cities would no longer see it as an “emerging market”. But the reality is that it is facing one of its most arduous economic challenges yet, as it rebalances away from the manufacturing of property and products. Eventually, all emerging economies have to break through the low income ceiling and create a middle income economy that offers a significant widening and sharing of the economic benefits from the wealth created. This won’t be easy – the US and Europe took decades to achieve it and, to date, not that many Asian economies have succeeded. So can China make it? It has the size of its economy on its side and the benefit of strength in numbers from its large population. Yet the challenge is also immense. Industrial economic rebalancing will lead to a need to improve the levels of education and skills in the workforce to cater for new service industries and technologies. Sheer numbers will not be enough to move the dial – what China needs is its own innovative culture. While it has successfully created its own social media and related online market industries, the largest part of the economy is still dominated by State Owned Enterprises (SOE) that run, control and influence the major industries and sectors. The political environment, encompassing everything from anti-corruption policies to regional politics, remains delicate. And the environmental cost of China’s growth has been high, with tremendous loss of agricultural land, water and river damage, as well as related healthcare and food security issues. China has a relatively undeveloped “traditional medicine” healthcare system, which ensures that modern medicines are expensive. Although personal taxation is not a great burden on the populace, China needs to find a balance between better health, welfare and pension safety nets for its population, which will age quickly from now on, managing the resulting pressures on the economy in the shorter term as dependencies rise. Ultimately, rebalancing towards services will necessitate the emergence of a real middle class. Education standards are rising, and in the internet age so are opportunities, but it remains crucial that the Communist Party allows a society with more freedoms and choices to evolve. History shows that middle class evolutions come entwined with greater personal freedoms, stronger legal systems and free movement of capital. China has, we believe, understood that its economic business model must evolve towards services – in 2015 they may contribute about 50 per cent of GDP – but the ability of these companies to access capital has been hampered by the SOEs and their relationships to the big banks and local governments through a centrally-planned economy. The power of the Party is also being increasingly concentrated in the hands of President Xi and, as such, “key man” risk may evolve. He has been clear that he wants to create the “Chinese dream” by producing more equal opportunities. Capital outflows suggest some do not share his enthusiasm for this new direction, however, so challenges to his authority could emerge if the economy stalls or the restructuring loses purpose. But the outlook may be better than it seems. Ironically, there is a greater chance that a determination to stay in power will encourage or force both Xi and the Communist Party to make many of the right decisions, simply because economic success is the greatest validation of the Party’s right to rule. Further, China still has a great wealth of talent and the capacity to sustain its development momentum, while the US is showing how hard it is to restart an economic behemoth twice the size. China has access to large amounts of capital and could attract much more from its diaspora, as well as international investors, as it forges freer markets. Its reliance on government-backed debt can be adjusted over time and its vast hoard of domestic savings put to better use, with a concurrent implementation of basic health and pension safety nets. The “great rejuvenation of the Chinese people” has become a stated aim of Xi. A strong and assertive China could be seen as a threat to all in the region and to the US’s global power. Paradoxically, however, a weaker or failing China could actually be more of a threat to the region and to the resolution of global issues, simply because China wouldn’t have the domestic self-confidence to respond and react. So in a world enduring another year of financial repression, where growth is fragile and political vacuums leave little room for longer-term restructuring policies, China has a better chance of remodelling its economy than most. This, of course, will force many in Asia to change too, with their carriages hooked to the Chinese locomotive. This should be positive for the next regional engine, India, which has much to learn to fulfil its potential as another global growth driver. The easy yards may have been run in the last 25 years, but China still seems capable of being a positive force for the world’s economy for the next 25 years, albeit in a different, distinctly Chinese, way.

Sony to re-launch itself in the robot business

Sony is launching itself back into the robot sector with ¥10bn to invest in start-ups that specialise in artificial intelligence and robotic development. Sony's president and CEO, Kazuo Hirai, said; “the robots we are developing can have emotional bonds with customers, giving them joy and becoming the objects of love.”  I'm not sure how these sentences link together? One is about investing (have they put aside a ¥10bn fund or something?) in start-ups while the other seems to be about Sony building the world's most lovable bots themselves.... :-) could you please take another look and rewrite so it's clearer? Thanks. Also, the link below is not the right one.

http://www.express.co.uk/news/science/685000/UN-robotic-army-AI

Terror organisations such as ISIS could get their hands on AI The chilling report stated that AI machines which want to inflict pain on humans, and tanks that will fire at a target without human influence, are close to becoming a reality. The report came to fruition from a week long meeting between officials earlier this year, which concluded that terror organisations such as ISIS are desperate to get their hands on these deadly weapons. The meetings’ objective was to discuss which guidelines need to be laid out when AI killer robots inevitably become a reality. However the experts acknowledged that terrorists are unlikely to follow the rules.

Microsoft wants to capture all of the carbon dioxide it’s ever emitted

Microsoft plans to remove all of the carbon dioxide it has ever released into the atmosphere by 2050, and be carbon negative by 2030.In addition the company plans to spend $1 billion over the next four years to fund innovation in reducing, capturing, and removing carbon dioxide from the atmosphere.

https://www.theverge.com/platform/amp/2020/1/16/21068799/microsoft-carbon-capture-climate-change

Microsoft plans to remove all of the carbon dioxide it has ever released into the atmosphere by 2050, it announced today. The company committed to becoming carbon negative by 2030, meaning that it plans to draw down more planet-heating carbon dioxide than it emits. The technology needed to make that goal a reality is still expensive and not widely commercially available, so the company also plans to spend $1 billion over the next four years to fund innovation in reducing, capturing, and removing carbon dioxide from the atmosphere. “big, audacious stuff” The company has been carbon neutral since 2012, canceling out its emissions by purchasing renewable energy and carbon offsets. That’s also when it started charging an internal fee on its business units for the greenhouse gases they generate as a way to get its divisions to slash their emissions. Those measures are no longer ambitious enough for the company, according to Microsoft president Brad Smith. It now plans to source all of its electricity use from renewables by 2025. And it will start charging its businesses for the planet-heating gases they generate along the entire supply chain to help fund its new climate initiatives. “It reminds me of the Microsoft of old. They used to do big, audacious stuff like this all the time and I’m glad to see that ethos return on a planetary basis. It’s also long overdue,” Julio Friedmann, a senior research scholar at Columbia University who previously led the Department of Energy’s R&D on carbon capture and storage, tells The Verge. The most audacious commitment from Microsoft is its push to take carbon out of the atmosphere. The company is putting its faith in nascent technology, and it’s injecting a significant investment into a still controversial climate solution. Proponents of carbon capture, like Friedmann, say that the technology is mature enough to accomplish Microsoft’s aims. It’s just way too expensive right now. Microsoft’s backing — and its $1 billion infusion of cash — could ultimately make the tech cheaper and more appealing to other companies looking for new ways to go green. 16 million metric tons of carbon Microsoft expects to put out 16 million metric tons of carbon this year, which is roughly as much as 15 coal-fired power plants. Capturing carbon dioxide from the air can still cost up to $600 per ton. At that rate, it could cost Microsoft $9.6 billion just to remove this year’s emissions, let alone everything it’s released since the company’s founding in 1975. But as more people adopt negative emissions technology, prices are expected to drop — just as the cost of solar energy fell from roughly $30 per watt in 1980 to less than $1 per watt in 2019. “The only way we can go forward is actually to take steps that will remove carbon from the environment,” Smith said at an event for media this week. He acknowledged, however, that “the technology that we will need to solve this problem does not exist today, at least not in the way that would make it affordable and effective the way the world would require.” Critics of carbon capture, like presidential hopeful Sen. Bernie Sanders worry that relying on drawing down carbon after it’s been released takes the pressure off polluters to actually burn less fossil fuel. Carbon capture is popular within the fossil fuel industry; 10 oil and gas companies together decided to funnel $1 billion into developing the technologies in 2016. For its part, Microsoft says that it has committed to slashing emissions by more than half by 2030. Switching over to renewable electricity sources in 2025 will get it part of the way to that goal, but it will have to make adjustments in other areas as well. The company is holding itself responsible for not only the greenhouse gas emissions it directly emits, but also for emissions from suppliers it contracts with and the pollution from consumers who use its products. When it comes to Microsoft’s Xbox, for example, the company is factoring in the pollution from the materials it took to make the gaming console, the electricity Microsoft uses for its operations, emissions from shipping, and ultimately the energy someone uses when they plug it in and play. It’s still doing business with fossil fuel companies To address climate change with negative emissions technologies, Microsoft would also need to make sure that there’s a safe and essentially permanent way to store the carbon it captures so that it doesn’t just get released again. “The devil is always in the details with this. And I think it’s going to be really important that Microsoft is transparent about what exactly they mean by carbon negative and how they plan to get there,” Noah Deich, executive director at the NGO Carbon180, formerly the Center for Carbon Removal, tells The Verge. Microsoft is still doing business with fossil fuel companies. In September, it announced a major deal with oil industry giants Chevron and Schlumberger to “accelerate development of cloud-native solutions and deliver actionable data insights for the industry” using Microsoft’s cloud-computing platform Azure. In its announcement today, Microsoft said it’s launching a new “sustainability calculator” to help Azure customers track and report their carbon footprint.

Germany and EU condemn US sanctions on gas pipeline - World News

Germany accused the United States of interfering in its internal affairs on Dec. 21 for imposing sanctions on companies working on a major project to supply Western Europe with Russian gas.Trump on Dec. 20 signed off on U.S. sanctions against companies building a Russian natural gas pipeline to Germany that Congress fears will give the Kremlin dangerous leverage over European allies.They target companies building the nearly $11 billion Nord Stream 2 pipeline under the Baltic Sea with the aim of doubling deliveries of Russian natural gas to Europe's leading economy, Germany.

http://www.hurriyetdailynews.com/amp/germany-and-eu-condemn-us-sanctions-on-gas-pipeline-150111

Germany and EU condemn US sanctions on gas pipeline BERLIN-Agence France-Presse Germany accused the United States of interfering in its internal affairs on Dec. 21 for imposing sanctions on companies working on a major project to supply Western Europe with Russian gas. Moscow and the European Union also issued statements criticizing the sanctions, a day after President Donald Trump signed off on asset freezes and visa restrictions on those involved in the Nord Stream 2 project. Swiss contractor Allseas said after the sanctions were imposed that it had "suspended its Nord Stream 2 pipelay activities". Although U.S. Congress overwhelmingly backed the sanctions, there was some criticism among lawmakers of a move that in effect punishes NATO allies such as Germany. While an EU spokesman criticized "the imposition of sanctions against EU companies conducting legitimate business", the German government said Berlin rejected "these sorts of extra-territorial sanctions". "They will hit German and European companies and constitute an interference in our internal affairs," said Chancellor Angela Merkel's spokeswoman Ulrike Demmer. Russian Foreign Ministry spokeswoman Maria Zakharova slammed the United States, accusing it of seeking to prevent other countries from developing their economies. "A state with $22 trillion in public debt is banning solvent countries from developing their economies," Zakharova wrote on her Facebook page. "The American ideology does not like global competition. Soon they'll be asking us to stop breathing." Russian gas giant Gazprom is financing roughly half of the project, with the other half paid for by five European companies. Trump on Dec. 20 signed off on U.S. sanctions against companies building a Russian natural gas pipeline to Germany that Congress fears will give the Kremlin dangerous leverage over European allies. The sanctions, which are opposed by the EU, were included in a sprawling defense spending bill Trump signed at a ceremony on Joint Base Andrews, an air force installation outside Washington, DC. They target companies building the nearly $11 billion Nord Stream 2 pipeline under the Baltic Sea with the aim of doubling deliveries of Russian natural gas to Europe's leading economy, Germany. U.S. lawmakers have warned the pipeline would enrich a hostile Russian government and vastly increase President Vladimir Putin's influence in Europe at a time of heightened tension across the continent. Both houses of Congress overwhelmingly approved the sanctions, with the Senate voting on Dec. 17 to send the measure to Trump's desk. Trump, who has been accused by Democratic opponents of being soft on Putin, had little choice but to give his approval. The sanctions were inserted into a much wider $738 billion annual Pentagon funding bill and, given the level of congressional support, a veto would likely have been overturned. The U.S. measures have angered Moscow and the European Union, which says it should be able to decide its own energy policies. Germany's foreign minister, Heiko Maas, discussed the issue during a phone call on Dec. 20 with U.S. Secretary of State Mike Pompeo, State Department spokeswoman Morgan Ortagus said. Pompeo expressed "strong opposition" to the project, Ortagus said in a statement. The German-Russian Chamber of Commerce insisted last week that the pipeline was important for energy security and urged retaliatory sanctions against the United States if the bill passes. The U.S. sanctions target pipe-laying vessels for Nord Stream 2 and TurkStream, a Russia-Turkey pipeline, and include asset freezes and revocations of U.S. visas for the contractors. One major contractor that could be hit is Allseas, which has been hired by Russia's state-owned energy giant Gazprom to build the offshore section. Following the act's signing, the Swiss-based company said in a statement it had "suspended its Nord Stream 2 pipelay activities." The power of Gazprom, which is closely integrated with the Russian state, is at the center of concerns about the pipeline in the United States, and also in eastern and central European countries. Senator Ted Cruz, a Republican ally of Trump, said that halting Nord Stream 2 should be a major security priority for the United States and Europe alike. "It's far better for Europe to be relying on energy from the United States than to be fueling Putin and Russia and dependent on Russia and subject to economic blackmail," he told the Senate last week. However, Senator Rand Paul, another Republican, voted against the bill, objecting to its bid to "sanction NATO allies and potentially American energy companies."

1.5C pledge from 87 global companies fuels hope of bending emissions curve at Climate Week | Ethical Corporation

On the eve of Climate Week New York, 87 multinational companies, with a combined worth of $2.3trn and direct emissions equal to 73 coal-fired power plants, announced they would set climate targets for their entire value chains aligned with limiting global temperature rise to 1.5C and reaching net-zero by no later than 2050. Of the 87, 16 have had targets covering their own operations verified by SBT: AstraZeneca, BT, Burberry, Deutsche Telekom, Dexus, Elopak, Hewlett Packard Enterprise, Intuit, Levi Strauss & Co, L’Oréal, Schneider Electric, SAP, Signify, Sodexo, The Co-operative Group and Unilever.

http://www.ethicalcorp.com/15c-pledge-87-global-companies-fuels-hope-bending-emissions-curve-climate-week

In part one of his CSR Cheat Sheet roundup of sustainability news, Oliver Balch reports on how the private sector has thrown down the gauntlet to governments to take climate action to the next level at the crucial summit in New York On the eve of Climate Week New York, 87 multinational companies, with a combined worth of $2.3trn and direct emissions equal to 73 coal-fired power plants, announced they would set climate targets for their entire value chains aligned with limiting global temperature rise to 1.5C and reaching net-zero by no later than 2050. In doing so they threw down the gauntlet for governments to step up their own ambition at the summit, which starts tomorrow, and take global climate action to the next level. The Secretary-General of the United Nations, António Guterres, has asked governments to come to the summit, which begins today, prepared to sign up to revamped national climate action plans and long-term net-zero commitments. It is encouraging to see many first-movers in the private sector align with civil society and ambitious governments by stepping up in support of a 1.5C future In June, the United Nations Global Compact, the Science Based Targets initiative (SBTi) and the We Mean Business coalition issued a call for action for companies to take the lead by setting 1.5C targets for their own operations and across their entire value chains, which on average account for 5.5 times higher emissions than their operations. First responders in July included AstraZeneca, BT, Hewlett Packard Enterprise, Levi Strauss & Co, India's Mahindra Group, Royal DSM, SAP, Signify, Unilever and Vodafone. The latest cohort adds the likes of Burberry, Singapore's City Developments Limited, Danone, Deutsche Telekom, Electrolux, Ericsson Group, Firmenich, IKEA, L'Oréal, Nestlé, Schneider Electric and SUEZ. Of the 87, 16 have had targets covering their own operations verified by SBT: AstraZeneca, BT, Burberry, Deutsche Telekom, Dexus, Elopak, Hewlett Packard Enterprise, Intuit, Levi Strauss & Co, L’Oréal, Schneider Electric, SAP, Signify, Sodexo, The Co-operative Group and Unilever. One of the new signatories, Salesforce, is a headline sponsor of Climate Week NYC. Last week, it launched a new cloud-based solution that promises to allow businesses to quickly track, analyse and report reliable environmental data. Typical of event-pegged announcements, the Salesforce Sustainability Cloud isn’t quite ready just yet. A beta version of the service is currently being tested, with the date for a full launch as yet unconfirmed. The US software-on-demand firm, also took the opportunity to flag up its longer-standing commitments on combating climate change, which include delivering a carbon-neutral cloud and achieving 100% renewable energy by 2022. “It is encouraging to see many first-movers in the private sector align with civil society and ambitious governments by stepping up in support of a 1.5C future,” said Guterres. “Now we need many more companies to join the movement, sending a clear signal that markets are shifting.” Nearly two in three Americans aged 18-24 support the notion that US companies should be doing more to tackle climate change If business backing for the climate strikes organised to coincide with Climate Week is anything to go by, then it is not just the big brands that are heeding Guterres’ call. Outdoor brand Patagonia closed the doors to a number of its European stores and manufacturing units last week to allow staff time off to participate in the wave of climate strikes scheduled for Friday. It has committed to doing the same this coming Friday to coincide with a second wave of day-long strikes. Burton has adopted a similar policy. The US snowboarding and clothing brand has also pledged to shut down its website for 24 hours, redirecting customers to the Global Climate Strike homepage instead. Research by media outlet Fast Company indicates that more than 150 companies did not open for business last Friday in solidarity with the climate strike in the US. The list includes the likes of Kickstarter, Stonyfield, The North Face and Ben & Jerry’s. Such actions may dent immediate profits, but should go down well with consumers, especially younger shoppers. According to research commissioned by The Climate Group, the coordinator of Climate Week NYC, nearly two in three (64%) Americans aged 18-24 support the notion that US companies should be doing more to tackle climate change. The same demand goes for the country’s president. In a poll released by CBS News, more than half (56%) of US citizens want President Donald Trump to take action on climate change “right now”. That said, only one in four (25%) support the Green New Deal fronted by Democrat Congresswoman Alexandria Ocasio-Cortez. Many businesses closed their doors last week in support of the global climate strike. (Credit: Twitter) The organic UK tea brand Pukka Herbs announced last week that it will be offsetting all its emissions this year. A B Corp-registered business, Pukka Herbs puts its current carbon emissions at 7,800 tonnes. Beyond its own operations, the Bristol-based brand (now owned by Unilever) is also looking to advise tea drinkers the world over to be mindful of over filling the kettle. Boiling water for three cups of tea requires the same energy as using a laptop for five hours, it notes. Meanwhile German-headquartered technology and services multinational Bosch has pledged to become carbon neutral within a matter of months. By 2020, it promises that all of its more than 400 worldwide locations will boast a net-zero carbon footprint, a feat it will achieve through green electricity purchases, energy efficiency and carbon offsets for “unavoidable” CO2 emissions. Bosch will strike long-term power-purchase agreements with new wind and solar farms around the world, increase its solar-generating capacity tenfold and reduce its electricity consumption by 1.7 terawatt hours per year by 2030, more than one fifth of its current consumption, a massive cut compared with a mere 1.5% decrease in total electricity use in 2018. Its decision to set aside €2bn for the task should help. As for its offset strategy, Bosch’s corporate comms department has – as yet – remained silent on both the quantity of emissions this will cover and the cost of doing so. At present, the company’s direct emissions (scope 1 & 2) stand at 3.3m metric tonnes. 78 of the top 109 energy companies currently have emission reduction targets that fail to meet the Paris Agreement’s goals There was a reality check on the limits to the private sector’s preparedness to bend the curve from the business-backed Oil and Gas Climate Initiative, which courted criticism for limiting attendance at its “high-level discussion” on 22 September to invitation holders only. Research by the investor-led Transition Pathway Initiative (TPI) gives an insight into why the sector may prefer to keep schtum. According to its report, which was released on the eve of Climate Week, 78 of the top 109 energy companies (72%) currently have emission reduction targets that fail to meet the Paris Agreement’s goals. Of the 31 that have adequately robust targets, meanwhile, only two come from the oil and gas industry (Shell and Repsol). Almost half (46%) of the 50 oil and gas companies surveyed were revealed not to have quantitative targets to reduce emissions, including Phillips 66 and Petrobras. More worrying still, six oil and gas firms either have no commitment on climate action or they fail even to recognise climate change as a business risk (nine electricity utilities and 14 coal miners fall into this same bracket). Considering that TPI represents investors with $15trn worth of assets under management, the sector may be pushed to rethink its reticence to speak out on climate-related risks.

Coinbase new prime brokerage service attracts $20bn hedge fund

Coinbase has launched a new prime brokerage service, and since doing so has attracted an unnamed $20bn hedge fund. A spokesman for Coinbase confirmed that "The firm has on-boarded a $20 billion hedge fund through its prime business..." Prime brokerage services permit hedge funds to borrow from a company having put down collateral, meaning they can trade a plethora of crypto exchanges without having to specify a balance or deal with private keys. There is also potential for Coinbase to provide execution services, giving advice on which trading platform is the best to use.  

https://news.hodlhodl.com/news/coinbase-prime-brokerage-reportedly-onboards-20b-hedge-fund-2292

Coinbase prime brokerage reportedly onboards $20B hedge fund Coinbase has launched a new prime brokerage service for hedge funds & has reportedly attracted an unnamed $20 billion hedge fund: "The firm has onboarded a $20 billion hedge fund through its prime business, the people said, declining to specify which fund. The team is working on getting other large hedge funds onto its trading platform." Prime brokerage allows hedge funds to borrow from Coinbase after putting down collateral, then they can trade on a number of crypto exchanges without putting down a balance or having to deal with private keys. In the future, Coinbase may also provide execution services where they can assist hedge funds in locating the best platform for a trade.

IWG Flexible office spaces growing trend in NCR

A decline in the availability of quality commercial office space has led to a growth in flexible working spaces in one of India's largest office markets. NCR, one of the largest urban agglomerations in the world, is thought to have moved more towards flexible spaces as developers have increasingly focused on residential real estate as a result of recent rises in immigration to the five major cities in the region. The situation looks set to be gradually reversing, however. With developers now recognising the lack of commercial supply, the number of pre-commitment office deals has increased this year.

https://www.moneycontrol.com/news/business/real-estate/flexible-workspace-portfolio-in-ncr-over-2-mn-sq-ft-portfolio-to-increase-in-2018-2888131.html

Ankita Sood The National Capital Region (NCR) is spread over 43,374 sq km, making it one of the largest urban agglomerations in the world. It was initially conceived under the first Master Plan for Delhi in 1962, and was conceptualised with the foremost objective of creating a metropolitan area around Delhi, so as to ease the pressure on the national capital. NCR consists of the entire National Capital Territory (NCT) of Delhi, as well as select districts from the neighbouring states of Haryana, Rajasthan and Uttar Pradesh (UP). Due to this lateral development, peripheral areas such as Gurgaon, Noida and Greater Noida emerged as the major urban centres of NCR. The prominence of the main urban centres can be derived from the fact that of the total 31 mn urban population of NCR, 74% is constituted by these urban centres. Slowly, NCR saw the growth of the service industry, and the region witnessed huge immigration from neighbouring states. Where Gurugram and Noida have developed as corporate and IT/ITeS hubs and account for 70% of the total office stock of NCR, Delhi due to its limited availability for expansion has positioned itself as the location of choice for the Banking, Financial services and Insurance (BFSI) sector. Predominantly the NCR office market has been driven by the IT/ITeS sector but the trend has reversed in the last couple of years with the Other Services sector comprising of media, consulting and e-commerce taking up significant space. With this background, our interactions with various stakeholders from the market have highlighted the upcoming trends for the office market in the coming 6 months. Share your workspace – co-working or flexible work spaces to trend Flexible workspace as a trend has successfully altered the office space globally and it is fast becoming a trend in NCR – one of the largest office markets in the country. There are various forms of this office space trending in NCR. On one hand, we have pubs that moonlight as daytime offices, and on the other hand, we have formal players such as WeWork, CoWorks, GoWorks and AltF that provide for flexible working options at affordable rates. Apart from rents, these spaces provide a cohesive and synergised environment to their clients, along with business networking opportunities. The notion of these spaces targeting only start-ups and freelancing consultants has been put to rest with some of the mainstream occupiers, such as Adidas, Citibank, Salesforce, taking up significant space in them. Today, the flexible workspace portfolio in NCR is more than 2 mn sq ft, and we believe this portfolio will only increase in 2018. Commercial real estate portfolio of some of the major players in NCR Company mn sq ft mn sq m WeWork 0.65 0.06 CoWrks 0.19 0.02 Spacesworks 0.17 0.02 AltF 0.11 0.01 SmartWorks 0.10 0.01 GoWorks 0.40 0.04 (Source: Knight Frank Research)Being an agglomeration of 5 cities, it is only imperative for the city to be well connected in order to function in a smooth manner. The road network and metro connectivity in NCR have been on a constant overhaul in the past few years. Noida has always surpassed Gurugram in terms of the quality of infrastructure and the upcoming metro connectivity from the Botanical Garden metro station to Depot station in Greater Noida, crisscrossing sectors like 71, 83, 137, 147, 153 in Noida and Alpha 1, 2, Pari Chowk and Knowledge Park in Greater Noida will only augment connectivity and public transport facility for residents of Noida and Greater Noida. Catching up to Noida, the recent infrastructure developments such as the underpass on Hero Honda Chowk, Signature Tower, and the proposed flyover from the Dwarka Expressway to the Southern Peripheral Road and the state and central governments’ investment push to infrastructure will only add to the ease of movement in Gurugram.Developers in NCR in the past prioritised development of residential assets given its remarkable capital appreciation; this bias put the quality commercial fresh supply under pressure leading to an upward increase in rentals. The scenario is however changing with the residential slowdown and the developers have again started finding commercial real estate as an attractive proposition. The decline in quality commercial office space has led to a pressure on demand and this is corroborated by the fact that there is an increase in the pre-commitment office deals in NCR. A pre-commitment office deal is one where the developer/landlord leases the building to a corporate occupier while the building is under construction. Large multinationals are finding such deals to be more viable in the wake of increased rents and location constraints, since it helps them to strategise their real estate portfolio for future needs. Being the commercial pivot of NCR, Gurugram is the forerunner in this trend with few of such deals closing in DLF’s upcoming project, DLF Cyber Park, which is slated to be completed by 2019.The year 2018 will be characterised by significant new supply in the market and occupiers looking to optimise their real estate portfolios will opt for pre-leasing in the upcoming supply. Set apart by its marque office spaces, Gurugram will continue to be the location of choice for corporate occupiers, while we believe that being a predominantly IT/ITeS market, the occupier interest in Noida will improve with the new commercial office space supply slated to be completed by 2019. (The author is lead consultant, Knight Frank Research)

Chinese investment in Africa falls 40% for the first half of the year

Concerns are being raised about how Africa will be impacted as Chinese investment falls by 40% in the region for the first half of the year, compared to the previous year, ending around $1.2bn, with other estimates suggesting the figure is as actually as much as 84%, to $568m.  Most of Africa's growth depends on selling oil, iron ore, timber and copper to China, however, with China shifting its focus to a consumer-led society, demand has dropped and now infrastructure projects in Africa, such as roads and dams, are under threat.  

http://qz.com/552412/chinese-investment-in-africa-has-fallen-40-this-year-but-its-not-all-bad-news/

As more signs of a slowing Chinese economy materialize, worries about how Africa will be affected have reached a new high. Chinese investment in Africa fell 40% in the first half of the year compared to the same period last year, ending up around $1.2 billion, according to Chinese officials on Tuesday (Nov. 17th). But other estimates have said the fall in Chinese investment is as much as 84%, to $568 million. Much of the continent’s economic growth over the past decade has depended on selling oil, iron ore, timber, copper, and other commodities to China. As China shifts to a more consumer-led economy, it should demand less of these resources. Others worry about the fate of needed infrastructure projects—roads, bridges, and dams—that Chinese companies have financed and helped build. Advertisement However the situation may not be as dire as it seems. “China is much bigger than it was a decade ago. Therefore, for it to be growing at 7%, in value-added terms, probably represents more growth than that when China was growing at 14%, off a much lower base,” said Razia Khan, head of Africa research at Standard Chartered, at a panel in South Africa earlier this month. “Our view is that China, in terms of how it manages its investment program, remains focused on Africa.” China isn’t the only country investing in Africa. Overall foreign direct investment in Africa increased by 64% to $87 billion last year, with Western Europe contributing half of all greenfield investments in new physical facilities on the continent, according to a report by fDi Intelligence and This is Africa, both Financial Times services. China accounted for only 7% of greenfield investments with 28 projects, the seventh largest source of investment in terms of number of projects. Advertisement A Chinese slowdown may eventually fuel more investment to Africa as businesses spend less on facilities and equipment in China but the country’s saving surpluses still need to be spent somewhere. ”There’s likely to be a beneficiary from the Chinese saving glut, in the sense that a lot of Chinese foreign investment, including FDI, is likely to be headed that way, as domestic capital expenditure in China weakens and their continuing savings surpluses have to be invested abroad,” said Willem Buiter, adjunct senior fellow at the Council on Foreign Relations, said in August.

British soldier arrested for protesting arms sales to Saudi Arabia

Video of British soldier, Ahmed Al-Batati, showing his reasons for protesting against the government, resulting in his arrest.

https://www.middleeasteye.net/video/british-soldier-arrested-protesting-arms-sales-saudi-arabia

Ahmed al-Batati, a Yemen-born British soldier was arrested after holding a one-man protest against UK support for Saudi Arabia's war in Yemen Middle East Eye delivers independent and unrivalled coverage and analysis of the Middle East, North Africa and beyond. To learn more about republishing this content and the associated fees, please fill out this form . More about MEE can be found here .

NASA seeking commercialisation of ISS activities to aid with budget

NASA is considering how it can commercialise International Space Station (ISS) to boost its budget. The US space agency is developing a commercial-use policy for the ISS in order to start experimenting with a wider set of market possibilities. The move comes after the White House's 2019 federal budget request removed direct funding for the ISS in 2025 and allocated $150m towards encouraging development of new commercial capabilities for the private sector and NASA. The budget request still needs to pass both houses of Congress.

https://www.space.com/39880-nasa-commercialize-international-space-station.html

In the not-too-distant future, NASA astronauts might conduct their video interviews from the International Space Station (ISS) while wearing Nike-supplied T-shirts, with a giant Toyota logo visible on the module wall behind them. NASA is developing a commercial-use policy for the orbiting lab, to open up more opportunities for private companies, agency officials said. "Today, there's a number of activities that are prohibited. They can't do advertising and marketing, and fly trinkets — things that are pure for-profit activities," NASA ISS Deputy Director Robyn Gatens said Wednesday (Feb. 28) during a presentation with the agency's Future In-Space Operations working group. [Building the International Space Station (Photos)] "We would like to broaden that, but we need to explore what policy or legal or programmatic changes we would have to make in order to do that," Gatens added. "So, we're starting to dive into that and develop that policy so that we can allow these commercial entities to use the ISS to begin experimenting with a broader set of market possibilities." That's not to imply that there's no commercial activity associated with the ISS now. The private companies SpaceX and Orbital ATK already launch robotic cargo missions to the orbiting lab. And SpaceX and Boeing hold multibillion-dollar NASA contracts to ferry agency astronauts to and from the station; if all goes well, these taxi flights could begin in the next year or so. In addition, an inflatable module built by Nevada company Bigelow Aerospace has been attached to the ISS since April 2016. And a great deal of commercial research is conducted aboard the U.S. segment of the station, an officially designated national laboratory that's managed by the nonprofit Center for the Advancement of Science in Space (CASIS). "They've been very busy developing demand for commercial research and technology development through the national lab," Gatens said of CASIS. "Over 50 percent of their new projects are commercial entities now, versus other government agencies or academia." This push to commercialize the ISS lines up with a broader desire to privatize activities throughout LEO in general, a stated priority of President Donald Trump. For example, the White House's 2019 federal budget request, which was released last month, eliminates direct funding for the ISS in 2025 and allocates $150 million "to encourage development of new commercial low-Earth orbital platforms and capabilities for use by the private sector and NASA," according to NASA's budget overview. The budget request still must pass both houses of Congress, and some notable folks on Capitol Hill have already voiced opposition to the ISS defunding plan. But even if the broad outlines of the proposal go into effect, we shouldn't rush to carve "2025" into the $100 billion orbiting lab's tombstone, Gatens stressed. "That doesn't necessarily imply that the platform itself will be deorbited in 2025," she said. "It's possible that industry could continue to operate certain elements of the ISS, or the entire ISS, as part of a future commercial platform. But the key is that the way we're running [the] station today, as far as the government role — the administration would like for that to be transitioned to a more commercial model." Follow Mike Wall on Twitter @michaeldwall and Google+. Follow us @Spacedotcom, Facebook or Google+. Originally published on Space.com.

Australia 'seven years' behind other nations in race for EVs

Around 2,400 electric vehicles (EVs) were sold in Australia last year, making up 0.2% of global demand, compared to between 3% and 4% for China and just under 2% in the US, according to a report by Bloomberg New Energy Finance. Behyad Jafari, CEO of the Electric Vehicle Council said Australia's EV adoption was "seven years behind" other developed nations. The country will benefit from increased demand for its nickel, copper, cobalt and lithium supplies, key components of EV batteries, but Jafari urged the Australian government to "create a whole new economy out of these advantages".

https://www.smh.com.au/business/consumer-affairs/australia-seven-years-behind-other-nations-as-electric-car-sales-leap-20180522-p4zgtf.html

Sales of electric cars in Australia vaulted about 70 per cent in 2017 but the nation is lagging "about seven years" behind global uptake, an expert has tipped, as demand begins to ramp up. A new report by Bloomberg New Energy Finance estimates worldwide demand for electric vehicles would rise to almost 1.6 million in 2018, up 45 per cent from a year ago. The consultancy predicts global sales "to explode in the late 2020s as the technology establishes a cost advantage over internal combustion engine car," reaching 30 million by 2030. Electric vehicles are projected to grow rapidly in coming years, led by companies such as China's YUDO group. Credit: AP The proportion of sales made up of plug-in electric cars in Australia last year was about 0.2 per cent or about 2400, compared with just under 2 per cent globally.

UAE clears $6.5bn in renminbi transactions over 11 months

The United Arab Emirates’ (UAE) clearing centre for the Chinese renminbi handled $6.5bn of transactions between January and November 2018, which the UAE central bank called a good achievement after just 17 months of operation. The centre is run by the Agricultural Bank of China (ABC) as part of China’s Belt and Road infrastructure project to link China, Asia and Europe. The news came when the bank hosted a workshop with the People’s Bank of China and ABC aimed at improving yuan clearing.

https://gulfbusiness.com/uae-clears-6-5bn-yuan-transactions/

The renminbi clearing centre in the United Arab Emirates handled CNY44.57bn ($6.5bn) in transactions between January and November, the UAE central bank said on Tuesday. “This represents a good achievement after only 17 months of operation of the centre,” the central bank said. “However, it is still low compared to the aspirations of the two countries in this area.” As both a major energy exporter and a hub for international trade, the UAE is an important part China’s ‘Belt and Road’ initiative to invest in infrastructure linking Beijing by sea and land to markets in Asia and Europe. Launched in May 2017, the centre is operated by Agricultural Bank of China (ABC) and is aimed at boosting financial and trade ties between China and UAE. A clearing centre can handle all parts of a currency transaction from when a commitment is made until it is settled, reducing costs and time taken for trading. “We are taking this opportunity to signal our continued commitment to improving the renminbi clearing arrangements in the UAE to further our trade and investment relationships with China,” said Mohamed Ali Bin Zayed al-Falasi, deputy governor of the UAE central bank. He was speaking after the central bank held a workshop with People’s Bank of China and ABC aimed at improving yuan clearing in the UAE. President Xi Jinping in July made the first visit by a Chinese leader to the UAE in 29 years. Read: Chinese President ends UAE visit, raft of deals signed

Pattern Energy picks up 250 MW Canadian, US wind for $293m

Pattern Energy Group is set to expand its portfolio to 4.4 GW after acquiring majority interests in two wind farms with a combined capacity of 250 MW for $293m. Its stakes in the 300 MW Henvey Inlet Wind in Ontario and 220 MW Grady Wind in Mexico also include long-term power purchase agreements with investment-grade offtakers.

https://renewablesnow.com/news/pattern-energy-to-buy-stakes-in-520-mw-of-na-wind-672365/

US company Pattern Energy Group Inc (NASDAQ:PEGI) today said it has agreed to acquire over 250 MW of wind capacity in Canada and the US with which it will expand its portfolio to some 4.4 GW. More specifically, the firm is acquiring stakes in two wind farms which have long-term power purchase agreements (PPAs) in place with investment-grade offtakers. CEO Mike Garland said the assets will be immediately accretive to cash available for distribution (CAFD). Pattern Energy will pay USD 293 million (EUR 266m) for the assets. A portion of that sum will be secured through a private placement of 10.4 million Series A preferred stock with certain institutional investors. Details on the two acquisition agreements are available in the table. Project name Henvey Inlet Wind Grady Wind Location Georgian Bay, Ontario Curry County, New Mexico Total capacity 300 MW 220 MW Turbines Vestas 3.45 MW Siemens Gamesa 2.625 MW Stake to be acquired 50% equity ownership interest 51% of Class B member interest Share of capacity 150 MW 101 MW Seller PEG LP Pattern Development Consideration CAD 242.4 million USD 99.45 million Commercial operation start September 2019 Q3 2019 Offtaker Independent Electricity System Operator Sacramento Municipal Utility District PPA term 20 years 25 years Pattern said that as part of the first deal, it is also acquiring from PEG LP a CAD-97-million loan outstanding with Nigig Power, expected to be repaid in less than a year. Nigig is the owner of the remaining 50% in the Henvey Inlet wind farm. The company also said the remaining Class B member interest in the Grady Wind farm will be purchased by the Public Sector Pension Investment Board (PSP Investments). (USD 1 = EUR 0.91) Choose your newsletter by Renewables Now. Join for free!

Deposit return schemes could save English councils £35m annually

Councils in England could save £35m ($46m) annually if deposit return schemes for drinks containers, including plastic bottles, were introduced, according to a report. The report was commissioned by the Campaign to Protect Rural England, Keep Britain Tidy, the Marine Conservation Society, Reloop and Surfers Against Sewage, and conducted by environmental researchers Eunomia. Local authorities had feared that deposit schemes would deter the use of their own kerbside recycling initiatives, costing them money. However, the research, which analysed data from eight authorities, discovered that reduced littering and landfill charges, plus lower recycling costs, would save councils between £60,000 and £500,000 each.

https://www.theguardian.com/environment/2017/oct/11/plastic-bottle-deposit-return-scheme-could-save-englands-councils-35m-a-year

Councils across England could save up to £35m every year if the government introduces a deposit return scheme [DRS] for plastic bottles and other drinks containers, according to a new report. Earlier this month environment secretary Michael Gove told the Conservative party conference that he would work with the industry to see how the scheme might be implemented in England. Campaigners say it would reduce litter and help tackle plastic pollution which experts say risks “near permanent contamination of the natural environment” with potentially devastating consequences. However, some cash-strapped local authorities have expressed concern that they would lose money as people would use the scheme rather than recycle through local authorities’ kerbside systems. But Wednesday’s report, based on an analysis of data across eight local authorities including some with high and low recycling rates, found that rather than losing income individual authorities could make savings of between £60,000 and £500,000 each, due to reduced littering and landfill charges as well as there being fewer recycling bins to process. Allison Ogden-Newton, chief executive of Keep Britain Tidy, one of the groups behind the report, said: “There is no doubt that introducing a deposit refund system would reduce littering in this country but, until now, there has been a concern that it would have a negative impact on cash-strapped councils. This report shows that in fact a DRS would create savings for local government.” Allow Facebook content? This article includes content provided by Facebook. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. To view this content, click 'Allow and continue'. Allow and continue Over eight million tonnes of plastic enter the oceans every year, with 80% coming from land. Plastic bottles are a major contributor; in June the Guardian revealed that a million are made every minute and the rate is rising quickly, with annual consumption forecast to top half a trillion by 2021. At least a dozen nations already have a DRS, in which a small deposit is paid when purchasing the bottle, which is then returned when the empty bottle is brought back. In Germany and Denmark, which have DRS schemes, more than 90% of bottles are returned. In England, just 57% of plastic bottles are recycled, mostly through streetside collection schemes. Gove was pressured this summer by opposition parties and NGOs to introduce a DRS in England, and Nicola Sturgeon announced in September that Scotland would introduce a DRS. In response he announced a four-week call for views to inform how the scheme would be designed. The government’s working group on the issue will also consider DRS for metal and glass containers. Today’s report was commissioned by Keep Britain Tidy, the Marine Conservation Society, Surfers Against Sewage, Campaign to Protect Rural England and Reloop. It was carried out by environmental research group Eunomia. It found that local authorities would lose some income as there would be a reduced number of cans and plastic bottles in the kerbside collections to sell to recyclers. However, the savings made from having fewer containers to collect and sort, as well as reduced levels of littering and reduced landfill charges would outweigh the loss of revenue. Samantha Harding, from the Campaign to Protect Rural England, said: “There are no longer any valid arguments that DRS doesn’t work and the environmental case is crystal clear. For our coasts and countryside, the cost of not taking action will be far greater than any incurred by the parts of industry that are trying to block this. Michael Gove can now build on the success of the government’s bag charge and the ban on microbeads by confirming England will have a deposit system.” Hugo Tagholm, from Surfers Against Sewage, said: “Deposit refund schemes are a tried-and-tested way of dramatically increasing recycling rates while reducing plastic bottle and other container pollution on our beaches, in our streets and across the countryside. “This report now clearly shows that introducing a DRS for England would also benefit local economies and communities, saving councils money that could be redirected to vital frontline services.”

Global Infrastructure Partners buys majority stake in Japan Solar

Partners Group has sold its stake in 610 MW Japanese solar power assets platform Japan Solar to a consortium led by Global Infrastructure Partners, realising a return of 3.2 times its investment. The Swiss investment manager and other stakeholders invested $250m in Japan Solar in 2013 to fund the construction of utility-scale power plants throughout the country, as part of Japan's FIT scheme. Partners Group made a further investment in Japan Solar, making it the biggest shareholder. The news follows Partner Group's sale of its stake in US solar developer Silicon Ranch Corporation to Royal Dutch Sell for $200m.

https://www.pv-magazine.com/2018/01/30/partners-group-sells-majority-stake-in-japan-solar/

Swiss investment manager, Partners Group has sold its stake in Japan Solar to a consortium led by Global Infrastructure Partners (GIP), generating a blended gross return of 3.2 times the original investment. The firm acquired its initial stake in Japan Solar, a 610 MW platform of Japanese solar power assets, in 2013, after it invested alongside Singapore-based renewable energy developer, Equis Group, which was acquired last year by GIP in a record $ 5 billion renewables deal. Partners Group and other stakeholders poured in an initial $250 million, with a plan to fund the construction of utility-scale power plants across the country under Japan's FIT scheme. To underpin the platform’s growth, Japan Solar partnered with Nippon Renewable Energy, a Tokyo-headquartered renewable energy utility business. During the holding period, the Swiss investment manager made a further equity investment into Japan Solar, which made it the largest shareholder in the platform. Popular content As noted by the firm, at the time the sale to GIP was agreed, Japan Solar consisted of 27 secured projects totaling more than 610 MW of capacity, over 200 MW of which were operational and contracted into long-term power purchase agreements with Japanese electric utility companies. “Japan Solar was a timely project and we are delighted to have contributed to the build-out of Japan's renewable energy production capacity. The successful sale of our stake in Japan Solar ahead of our original exit timeline provides an attractive return to our clients and endorses our strategy of platform-building in markets supported by transformative trends,“ said Benjamin Haan of Partners Group. The news of sale of its holding in Japan Solar comes hot on the heels of Partners Group's announced sale of its ownership stake in Silicon Ranch Corporation, a U.S. solar developer, to oil giant, Royal Dutch Shell. The 44% stake was sold for roughly $200 million.

Daesh terrorist guilty of prime minister assassination plot

A Daesh terrorist has been found guilty of plotting to kill Prime Minister Theresa May with an attack on Downing street. An undercover FBI agent exposed the 20-year-old man's intentions to "do a suicide bomb on Parliament" by posing as a terrorist online; The jury found him guilty after beiong in possession of a terrorist handbook and are considering further charges of preparing to conduct terrorism abroad.

https://www.metro.news/daesh-drifter-guilty-of-plot-to-behead-pm/1148997/

You can read your favourite Metro Newspaper news and feaures online Exciting news: metro.news has merged with metro.co.uk! That means that as well as keeping up with all the latest news and features you love from Metro Newspaper you’ll also be joining the 23 million unique visitors a month (January 2020) on metro.co.uk. Read the latest Metro newspaper stories here, including Sixty Seconds, Escape, Guilty Pleasures, Connect and Rush Hour Crush. You can still catch the best news, celebrity, sport and features twice a day, every weekday in our brilliant Metro app – download for free from the App Store, Google Play or the Amazon App Store. And if you want to sample Metro newspaper in all its glory look no further than our unbeatable e-edition.

Georgetown to help Washington D.C. examine transit cyber security

Georgetown University School of Continuing Studies is collaborating with the Washington Metropolitan Area Transit Authority (WMATA) to consider innovative techniques to tackle the issue of cybersecurity in the transit network. WMATA will provide fellowships for Georgetown academics on the applied intelligence, cybersecurity risk management and technology management masters programmes to address real-world cybersecurity problems. The fellowships will take on two students a term to offer them practitioner experience, while WMATA will receive potential solutions from the next generation of cyber experts.

https://www.intelligenttransport.com/transport-news/105463/wmata-extends-academic-partnerships-to-examine-cyber-security-threats/

WMATA extends academic partnerships to examine cyber-security threats 13 SHARES Posted: 25 August 2020 | Sam Mehmet (Intelligent Transport) The partnership aims to help students progress in their fields and be able to address real-world cyber-security and transit challenges that WMATA is facing today. Beginning later in 2020, the Washington Metropolitan Area Transit Authority (WMATA) (Metro) has extended its partnerships to include Georgetown’s School of Continuing Studies in its efforts to seek innovative ways to examine and solve some of the most complex cyber-security issues facing critical transit infrastructure today. “Metro is eager to partner with Georgetown – to enhance our commitment to regional partnerships and the delivery of safe and reliable services through the development of the next generation of cyber-security professionals,” said Metro’s Senior Director of Cybersecurity and Chief Information Security Officer (CISO), Kyle Malo. Through these fellowships, Metro will be joining academia with real-world cyber challenges, hoping to develop the next generation of cyber experts while also enhancing its own security position. Throughout the year, the fellowships will accept two students per semester and projects will be customised based on what the students learn in their programme of study either in the Master’s in Applied Intelligence programme, Master’s in Cybersecurity Risk Management programme, or the Master’s in Technology Management programme at SCS. “I am excited to have the opportunity to implement the knowledge gained during my Master’s at Georgetown University within a world-class cyber-security transportation agency,” said Christine Solis, one of the first fellows to begin the programme this autumn, and a student in the Master’s in Applied Intelligence programme. “The cyber-security fellowship at Metro will provide me practitioner experience that will prepare me for my professional journey.”

Uber's 'virtual garage' aims to end parking stress for commuters

Uber's 'virtual garage' trial is set to offer subsidised fares and end the stress of finding a parking space for commuters. The scheme, which was proposed by the city council of Summit, New Jersey, will cost the city around $167,000 annually, whereas new parking facilities could cost as much as $10m. 'Virtual garage' will also provide Uber with an opportunity to expand its service outside of its usual city markets.

http://www.digitaltrends.com/mobile/uber-virtual-garage/

If Uber offered to drive you to and from the station for the cost of a day-long parking permit, would you go for it? You might if your morning routine involves wasting 20 minutes looking for an available parking space. The idea for the ride-hailing company’s new trial to offer subsidized fares to commuters came not from Uber but from the small city of Summit, New Jersey, BuzzFeed News reports. Recommended Videos Reluctant to spend millions of dollars on a new downtown parking lot, the city council approached Uber with a more cost-effective solution to help make life easier for commuters heading into New York City. The “virtual garage” pilot program, which launched on Monday, is set to last six months and involves 100 Summit residents. A ride between home and the train station costs $2 each way, equal to the $4 fee for a day’s parking. Summit, population 22,000, covers a relatively small area so the journeys should be relatively quick, enabling each Uber driver to make multiple runs. City administrator Michael Rogers told BuzzFeed that freeing up even 100 parking spaces will be “pretty significant in our system.” Rogers estimated that the scheme, if rolled out on a permanent basis, would cost the city around $167,000 annually. New parking facilities, on the other hand, could cost as much as $10 million, though locating available land downtown would present an additional challenge. The city administrator speculated that the scheme could even help take cars off the road as some families could be persuaded to do away with the second car that they use solely for getting to and from the station. While helping Summit to deal with its parking problem, the deal also gives Uber an opportunity to grow its service outside of the city markets where it currently does the vast majority of business. This isn’t the first time for Summit to partner with Uber for subsidized rides. At the end of last year the city offered local rides for a flat fee of $5 during the holiday season, while Evesham, also in New Jersey, went so far as to offer free rides during the same period in an effort to cut the number of drunk-driving incidents.

Top Blockchain Experts Will be Gathering at Barcelona’s Blockchain Week

The report revealed that, Blockchain experts from all over the world will be gathering at Barcelona’s Blockchain Week on the 2nd week of October 2015 to explore its potential for IoT, smart cities, e-Commerce, retail, trading, security, compliance, mobile Apps and many more. Barcelona will be crowded with experts to debate the wide application of this new technology revolutionizing the financial world that saw large investments from companies such as Visa, BBVA, Goldman Sachs, Nasdaq, and Qualcomm. The panels aimed to educate and initiate conversation between opinion leaders from different industries, leading experts, technologists, entrepreneurs and investors in the blockchain space.?? The Digital Currency Summit, a forum that explains digital currency essence and the ways of implementation is participating in the Blockchain week this year. The  event mainly focusing on regulation, financial strategy, and investment opportunities.   

http://www.newsbtc.com/2015/09/26/top-blockchain-experts-will-be-gathering-barcelonas-blockchain-week/?utm_content=buffer124aa&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

The Blockchain Week will be gathering dozens of experts in Barcelona from Oct 5 to 8 to debate the wide application of this new technology. The week culminates with the Digital Currency Summit, a forum for training and discussion where attendees can learn more about or discover digital currencies. Blockchain technology is disrupting not only the world of finance, but also a number of online and offline sectors. Several reports from well-known consulting practices, banks and large technology companies have stated that digital currencies will play an important role in the transformation of industries such as ecommerce and retail, the Internet of Things, trading and finance. Blockchain experts from all over the world will meet up in Barcelona on the 2nd week of October 2015 to explore its potential for IoT, smart cities, eCommerce, Retail, Trading, Security, Compliance, Mobile Apps and many more. The Catalan city will be crowded with experts in this new technology revolutionizing the financial world and which saw large investments from companies such as Visa, BBVA, Goldman Sachs, Nasdaq, and Qualcomm. The Blockchain Week is the largest Blockchain event in Europe is gathering international blockchain technology experts, lawyers, executives from banks and financial institutions, IT specialists, investors, entrepreneurs. The objective of this cycle of conferences and events related to the blockchain is to explain this new technology and debate about the potential impact of cryptocurrencies, such as bitcoin, in different industries. Digital currencies and Blockchain technology will impact different sectors in the coming years. To make sure that the participants are able to focus on the most relevant talks and connections, the organization has divided the Blockchain Week into a number of independent, sector-focused mini conferences. The sessions and panels mission is to educate and trigger conversation between opinion leaders from different entrepreneurs and industries, leading experts, investors, and technologists working with the blockchain technology. Experts and lawyers will explain the legislative and legal framework within which these new financial players evolve and will describe its global impact on and its integration in the banking system. Barcelona’s Blockchain Week will be an event focused on highlighting the financial and economic role digital currencies. The Blockchain Week program of sessions and panels is available here Source and Image

Asian week in blockchain, May 4 to 10

despite the news that Binance , the world’s largest exchange, suffered a US$40 million hack this week. In the past, major exchange breaches have caused markets to plummet, but this week Bitcoin...

https://www.asiatimes.com/2019/05/article/asian-week-in-blockchain-may-4-to-10/

Crypto asset markets have remained buoyant this week despite the news that Binance, the world’s largest exchange, suffered a US$40 million hack this week. In the past, major exchange breaches have caused markets to plummet, but this week Bitcoin and other major cryptocurrencies seemed to shrug off the bad news as markets reached a new 2019 capitalization high of almost $190 billion, and Bitcoin broke the psychological $6,000 barrier on Thursday, the same day as the Binance hack. Binance boss Changpeng “CZ” Zhao announced that the firm would refund all the lost 7,000 Bitcoins out of a company fund set up to cover for such incidents. Binance also suggested a “rollback” of the Bitcoin blockchain to undo the fraudulent transaction, but this was soon shot down by most of the crypto community, who argue Bitcoin must be kept immutable. Chinese social media platform WeChat has bowed to further pressure from Beijing by reportedly announcing that it will be banning all crypto related payments by the end of May. The payment service agreement was updated to prohibit all dealings or discussions on virtual currencies and tokens. The new rulings will result in the banning of merchant accounts if they service any crypto token project or fund. The Tencent-owned chat app blocked crypto and blockchain-related media outlets from its platform last August. Still in China, widely read US-based markets blog Zerohedge has tied the recent surge in Bitcoin and crypto markets with a report that Chinese banks may be running out of dollars. It cites a SCMP report which claims that authorities in China have quietly begun “soft” capital controls on foreign currency withdrawals. As the trade war intensifies Chinese banks have started limiting USD withdrawals, which could be forcing people into other safe haven stores of wealth such as Bitcoin. Trading cryptos has been banned in China since late 2017, but investors can still get their Bitcoin fixes via over the counter (OTC) or peer to peer trading. India also seems to be continuing with its crackdown on cryptos, which is seeing more exchanges seeking friendlier climes in which to operate. Zebpay was forced to close its doors to Indian customers last October, due to a national banking ban preventing crypto-related deposits and withdrawals. The exchange, now headquartered in Singapore, has now announced the launch of a crypto trading services in Australia. Zebpay has acquired a license from the Australian Transaction Reports and Analysis Centre, the country’s finance regulator, and opened an office in Melbourne. Meanwhile, Thailand’s central bank is pushing ahead with its cryptocurrency efforts with the launch of a prototype blockchain platform. Bank of Thailand’s tech partner Wipro announced that the solution will enable the BoT to use a cryptocurrency to settle interbank transactions between its eight commercial banking partners, which include Bangkok Bank, Krung Thai, Siam Commercial Bank, Standard Chartered Bank (Thailand) and HSBC. The project dubbed lnthanon will be based on the Corda platform developed by blockchain firm R3. The prototype has demonstrated that blockchain technology can significantly enhance payment and transfer speeds and efficiency between banks. Three of South Korea’s largest crypto exchanges, Korbit, CPDAX and GOPAX, have partnered with CrossAngle to improve their token listing processes. The firm has developed a data disclosure platform called Xangle, which says it will aim to tackle the lack of credible and comprehensive data for crypto token projects. This will help exchanges make more informed decisions while also avoiding scams and pump and dump schemes. CrossAngle will provide due diligence reports and the exchanges can decide on whether to list the tokens for trade or not. Facebook has made a U-turn on its crypto advertising ban by allowing crypto related ads back on its platform. The social media giant first censored crypto advertising in January 2018 during the ICO boom. According to a report by crypto advisory Statis Group, more than 80% of token sales were fraudulent and Facebook did not want to take the risk of allowing them to advertise. It did not make any real attempt to block spammers or scammers from using the platform from their own accounts, however. Facebook will reportedly launch its own blockchain project, with a cryptocurrency based payment system later this year.

InternetQ India’s best music streaming apps

A compilation of India's best music streaming apps includes Saavn, with an offline playlist feature; Wynk Music, featuring personalised recommendations based on music preferences; Gaana, with regional songs, Bollywood and English music; and Hungama, with full album videos. The well-known offerings from Google Play Music, Apple Music and Amazon Prime Music also feature, while YouTube, Shazam and Bookmyshow's Jukebox are alternative options.

https://www.hindustantimes.com/tech/wynk-saavn-to-apple-music-best-free-and-paid-music-applications-in-india/story-lQTF8W49NHQ8cMRDICKqxI.html

Thanks to 4G and affordable data plans, you no longer need to download pirated MP3s from malicious websites to listen to latest music. Even if you are conscious about saving your mobile data, some music apps have come with offline support, allowing you to access high quality music on-the-go. So, while you are bombarded with a long list of apps in your smartphones, here's a list of the best music streaming apps that will keep you connected 24x7 to the beats and tunes of Hollywood, Bollywood and regional tracks. Saavn - Saavn offers an eclectic range of songs to users. Obviously, you need an internet connection for streaming songs, but you can also listen to your favourite playlists while you are offline. Saavn Pro, a premium version of the app, available at ₹95 per month will help you download songs and listen later. Saavn also offers free access for limited time to new users. Wynk Music - Wynk Music is among the popular music streaming apps. Users can listen to music on-the-go, create and share playlists and get personalised recommendations based on their music preferences. While Wynk Music is free for all users, upgrading to Wynk Premium allows users to access unlimited streams and downloads combined with a superior ad-free experience. The service is also available to non Airtel users. Gaana - Another music app that offers a collection of regional songs, Bollywood and English music. Just like Saavn, you need a paid version of this app to download songs. You can also register yourself to the trial version for 14 days. Hungama - The 'Now Playing' section of Hungama offers full album videos as well as songs. You can also tweet songs and choose between gym and sleep modes. It is a tad expensive than other apps — it charges ₹10 per song. You can also get a pack full of 10 songs at ₹50. The feature-packed streaming app is also capable of merging songs saved in your phone memory and you can play them through the app only. Google Play Music - It's a purely subscription-based app that charges you even if you want to stream music. Get it registered using your Google account and start playing songs. The trial version lasts for a month and later you can buy the subscription at ₹99 per month. The subscriptions are automated, and you can end it anytime as per your convenience. This subscription is only for music streaming. For downloading songs, it charges you ₹18 per song. Apple Music - It charges ₹120 per month as the subscription fee, which is slightly higher than others, but covers both streaming and downloads. Besides, you also get access to exclusive podcasts, TV shows and films. What's unique is its family plan which can be shared among five members. Amazon Prime Music - The latest music streaming app is bundled under Amazon Prime service. The app also comes with Alexa voice AI for easier browsing of the songs. Prime subscribers get Amazon Prime Music offers ad-free music in over 10 languages spanning across different genres like retro classics, pop, rock, electronic, among others. Amazon Prime Music vs Apple Music vs Google Play Music Other apps Streaming music is also available on Soundcloud, an app more focused on crowd-sourced content. It's also a great platform for artists to create their own channel and share it with others. How can we not talk about YouTube, the world's largest video sharing network that offers great options to stream music. Shazam and Bookmyshow's Jukebox are also some other options.

Banks Test Blockchain for Syndicated Loans with Symbiont, R3

Nine global banks are participating in a trial where they will test blockchain and smart contract technologies to improve the syndicated loan market. These banks are members of R3CEV LLC, a blockchain technology company that heads a consortium of 45 banks to research and develop FinTech products. Four buy-side companies are also involved in this project, which will continue until the end of this year. The participants want proof of whether processing loan data on a blockchain could remove the cost for each of them to maintain their own lending system. The project was co-ordinated by Synaps Loans and Credit Suisse, a joint venture of Ipreo and Symbiont as a concerted effort to improve efficiency whilst reducing costs.

http://www.americanbanker.com/news/bank-technology/banks-test-blockchain-for-syndicated-loans-with-symbiont-r3-1091625-1.html

Nine global banks are testing blockchain and smart contract technologies to see if they can improve the syndicated loan market. The bank consortium R3 CEV is managing the proof of concept. R3 members State Street, U.S. Bank, Wells Fargo, BBVA, Danske Bank, Royal Bank of Scotland, Scotiabank and Société Générale are participating in the initiative, which will run through the end of the year, according to a Tuesday news release. Buy-side firms AllianceBernstein, Eaton Vance Management, KKR and Oak Hill Advisors are also involved. The participants are seeking proof that processing loan data exclusively on a blockchain could eliminate the cost for each to maintain their own lending system. Blockchain technology, which first came to light as the technology underpinning the digital currency bitcoin, has captivated banks' interest in its potential to lower costs and improve speed, efficiency and record-keeping capabilities for financial transactions. The project was arranged by Credit Suisse and Synaps Loans, which is a joint venture of the financial services software firm Ipreo and the smart contracts firm Symbiont. Synaps aims to help organizations reduce manual reviews, data re-entry and systems reconciliation by giving loan investors direct access to an authoritative system of record for syndicated loan data. "This demonstration sets us on a path to increase efficiency and reduce costs, which will benefit banks and clients alike," Emmanuel Aidoo, head of the distributed ledger and blockchain effort at Credit Suisse, said in the news release. "By connecting a network of agent banks through blockchain, we can achieve faster and more certain settlements in the loan market."

UberEats is giving people hundreds of pounds-worth of free food vouchers due to delays

London customers ordering food from UberEats are claiming back hundreds of pounds worth of food in vouchers and promotions. Canny users are benefiting from late deliveries, contacting UberEats' customer helpline and receiving vouchers for meals as compensation. The sweeteners are all aimed at engaging with users and keeping their custom, while at the same time forcing the competition out of the marketplace.

http://uk.businessinsider.com/how-to-get-free-ubereats-vouchers-promotions-food-hundreds-pounds-london-2016-9

Greg West struggles after eating too many mince pies during the Wookey Hole Big Eat competition on November 22, 2011 in Wells, England. The competition was won by Mike Doggerel, who along with fellow joint winner Lee Palmer, ate 19 mince pies in ten minutes. The annual competition sees handpicked competitors, eating professionals and members of the public, attempting to eat as many mince pies as possible in the space of 10 minutes for a prize of 1000GBP and the chance to compete in one of the biggest speed eating events of the year in the United States. Matt Cardy/Getty Images Highly determined, stingy Londoners are gaming UberEats — the food delivery service from ride-hailing company Uber — to get hundreds of pounds-worth of free food. I know because I'm one of them. Over the last few months I've feasted on pizzas, wraps, snacks and sweets, exotic salads and expensive drinks. All in all, I've received nearly £200-worth of free food since the service launched in London on June 16, 2016, while spending just £10 of my own money on food over the same time period. It comes from a combination of order screw-ups, delivery delays, and promotional codes sent to me via friends — and some people have managed to make far, far more than that. We're in the middle of an arms race — and consumers are reaping the benefits If there's one thing you need to know about the food delivery industry, it's that it is insanely competitive right now. The major players are locked in a billion-dollar arms race to attract customers, as smaller players get squeezed out of existence. Takeru Kobayashi of Japan sits in exhaustion after downing 44 hot dogs at the annual hot dog eating contest at Coney Island July 4, 2003 in New York City. Kobayashi, who set a world record of 50 1/2 hot dogs in last years contest, asily won again this year. Chris Hondros/Getty Images UberEats, from $69 billion ride-hailing behemoth Uber, is expanding in dozens of countries around the world. London-based Deliveroo raised a huge $275 million (£209 million) funding round from VC investors in August. Dutch Takeaway.com is going public at a $1 billion valuation. Delivery Hero, from Germany, has taken out a whopping eight-digit loan. Just Eat and Takeaway.com, supposed competitors, have sold a number of local businesses to one another in various markets, in an apparent attempt to avoid additional competition. And Deliveroo and Just Eat have both recently had rebrands to spruce up their image. Meanwhile, heads are beginning to roll. In September, two-year-old London-based Pronto shut down, and in July, Belgian startup Take Eat Easy also closed its doors. For price-conscious consumers, this is all very good news. The startup ecosystem's addiction to venture capital means we're living in a golden age of promotional offers. "There may may never be a better time to be a consumer," Maya Kosoff argues over at Vanity Fair. "You can get so much—subscriptions to online retailers, meals, rides, even housecleaning—at little to no cost." In the food delivery industry, this easy access to huge pools of capital and fierce competition translates into a bonanza for customers. Signing up? Have some free money! Your meal was slightly late? Have some free money! Your order contained a wrong item? Have some free money! You referred a friend to sign up? Have some free some money! I've had nearly £200 of free food — but I'm small fry compared to some Competitive eater Crazy Legs Conti eats his way out of 100 cubic feet of popcorn inside a life-sized popcorn box May 4, 2004 in New York City. Conti will eat his way out of the box to promote the Tribeca Film Festival documentary premiere of 'Crazy Legs Conti - Zen and the Art of Competitive Eating'. Stephen Chernin/Getty Images I got my first free food from UberEats on June 17, a day after it launched in the UK. It offered all users a free £10 voucher for their first meal — but a friend managed to find a £25 voucher, so I opted for that instead. Since then, a stream of mistakes has given me free meal after free meal. Each time a meal was late, or incorrect, I'd email the UberEats support team — and they'd send me another voucher to say sorry. In all my time using it, I've only bought an unsubsidised meal once — a wrap, for £7.70. (I have spent a little more than that, because some of the orders I've placed have been a pound or so over the value of the promotional code.) Because of the slightly ridiculous size of some of these codes — up to £30 a pop — I've ended up bequeathing free food on colleagues at random. "First person to reply gets a free lunch!" I simply can't eat all the free food Uber is throwing at me. I'm definitely not the only one doing this. A very unscientific straw poll of my office found that almost everyone who uses the service has been given promotional codes by Uber, largely because of delays with their orders (particularly in the few weeks after launch). The worst I've experienced is 70 minutes late; one colleague had to wait three hours. All in all, I've had £180 of free food. It's the most out of anyone I know personally — the closest is my colleague Sam Shead, who racked up £80 in the first month or so. At one point, UberEats refused to give me any more vouchers — effectively penalising me because it had screwed up too many times. Rob Price/BI UberEats eventually even refused to give me any more free food, telling me that the volume of my complaints was "atypical" of an ordinary UberEats user. When I replied explaining it was effectively penalising me because they had screwed up my orders too many times, the company changed its mind — and sent me an extra £10 voucher for my trouble. But I'm small fry compared to some. A reader who asked to be referred to only as Sonia emailed me to say that together, she and her partner have managed to hail £462.12 of free food (spending £41.12 due to sometimes going over the promotional amount). They managed this by using an account each, and complaining if the food took even a minute longer than the 30 minute window promised. "The thing is it is very very rare that the food come on time it is always a few minutes late," she said in an email "Although it didn't bother me I still claimed for every time the driver was late. Each order I placed I used the credit and got £30 back straight away. I once even order[ed] a can of coke to my door and got £30 when the driver was late!" Unsurprisingly, UberEats did not take kindly to this. The company cut off her access to promotional codes because of "the unprecedented frequency of these complaints," a customer service rep said in am email — then suspended both her and her partner as their accounts appeared to be duplicates. Ultimately, as a "one-time courtesy gesture," a customer service rep agreed to reactivate her account — but without the ability to use promotions. BI Uber's customer acquisition strategy: Throw money at potential customers. Jacob Hannah competes in a hot dog eating contest, prior to the IRL IndyCar Series Bombardier Learjet 550k on June 7, 2008 at the Texas Motor Speedway in Fort Worth, Texas. Streeter Lecka/Getty Images Uber's core ride-hailing business is famous for how liberally it hands out promotional codes. Much of its growth is off the back of an aggressive referral scheme. Currently, if someone signs up as a rider using your referral code, they get a £10 voucher for a ride — and so do you. (It used to be even more.) Similar schemes are also in place on the driver side, incentivising drivers on the platform to persuade their friends and colleagues to sign up to drive in return for cash rewards. One New Yorker, Blake Jareds, managed to rack up a truly staggering $50,000 in Uber credit by referring people to become users. His referral code became one of the top hits on Google when people searched for "Uber promotion code," meaning 2,500 people took advantage of it. But after he left a bad review for a driver, Uber removed his fortune of credits, telling him he had "taken advantage of the Uber referral program to earn Uber credit inappropriately." Uber declined to say how many vouchers have been issued to users since the London launch of UberEats. "The 30 minute guarantee promotion was designed to give our customers a reliable and fast service. The promotion helped us to get the average time from tap to table down to 28 minutes in London. Of course in the initial weeks things weren’t flawless, but the guarantee only came into effect for a very small proportion of orders," UberEats general manager Alex Czarnecki said in an email. Contestants in the annual hot dog eating contest stuff hot dogs in their mouths July 4, 2003 at Coney Island in New York City. Takeru Kobayashi of Japan, who set a world record of 50 1/2 hot dogs in last years contest, downed 44 to easily win again this year, while Sonia Thomas of Alexandra, Virginia ate 25 to set a woman's record. Chris Hondros/Getty Images But what about people who are rinsing UberEats for maximum vouchers? "We certainly don’t view someone complaining about a 31 minute order as gaming the system - they would still have been eligible," Czarnecki said. "However we did have to cancel a number of codes that were being used fraudulently and not in the spirit of the promotion - for example if people shared their individual 30 minutes guarantee code with others who didn’t have late orders." Czarnecki blames the issues I and others experienced on unexpectedly high demand. "We were blown away by how popular UberEATS was even on day one. As a result we underestimated the number of courier partners we would need at that early stage. That’s why we saw some delays early on, but thanks to the thousands of courier partners we now have in London delivery times are now much quicker." This ride won't go on forever. At some point, this venture-capital funded frenzy is going to come to an end. "When the money train stops," behaviour will have to change, Uber's chief product officer Jeff Holden said at a Bloomberg conference in June 2016. "When the tide goes out, you see who’s been swimming naked." Krazy Kevin stuffs himself with buffalo wings during Wing Bowl 13 at the Wachovia Center February 4, 2005 in Philadelphia, Pennsylvania. An estimated 20,000 spectators gathered to watch the buffalo wing eating contest. Wing Bowl started 13 years ago when a Philadelphia radio personality came up with the idea as an alternative to the Superbowl because he believed the Philadelphia Eagles would never again make it to the Superbowl. William Thomas Cain/Getty Images Even now, Uber is offering smaller promotions than it used to. Its ride-hailing referral codes in the US used to be worth $45; now they're just $20. And in London, UberEats has now ended its lucrative promise it made in July to give users £30 off their next order if it takes longer than 30 minutes to arrive. Now? "As per your city guidelines, if we verify that the delivery is more than 60 minutes, we will provide £10 to your account," a customer service rep told me — a rather less enticing offer. This ride can't go on forever. Uber spends heavily to break into new markets; once there, there's little incentive to keep throwing money away. I'm resigned to the fact that at some point, perhaps soon, my subsidised culinary adventure is going to come to an end. But right now, I'm going to see just how long I can keep this going. And now, here's my UberEats order history: Finally, for the curious, here's exactly how much I managed to get, and how: On the day after the launch, June 17, I used a £25 promo code that a friend send me. This was an all-round disaster. The order was initially cancelled altogether, forcing me to rebook it; it was then extremely late. And so I complained. Uber’s help team promptly got back to me apologising, and sending me a £25 voucher to make up for my trouble, which I used on a big order from Chillango on June 20. No problems here. Then out of the blue, Uber’s team sent me another £20 voucher — this one to make up for the cancellation on the first order, apparently. So I bought myself another lunch on June 29. But there was a problem — they sent a chicken wrap instead of a falafel one. So, I complained. Then on July 1, I bought what is to date my only unsubsidised UberEats meal: A £7.70 wrap. (The previous complaint hadn’t processed yet.) No problems there! Next, on July 12, using the £20 voucher I was given following the June 29 screw-up, I bought another lunch — a halloumi wrap, a falafel pot, and various other sides. On August 19, I placed a bumper £31.25 order with Iskele Grill, almost entirely paid for with a £30 voucher that a friend sent me. However, the order was (slightly) wrong — I got sent a small falafel dish instead of the falafel pitta I had ordered. And so, once again, I complained. In response, they sent me a much smaller voucher than previous times: Just £10! Then on September 2, I placed a £30.50 order with The Athenian. Once again, it was paid for with a voucher, and I have literally no idea where it came from. God? But the food arrived 70 minutes late, and so I complained. This was, apparently, the final straw for UberEats. A customer service rep told me that “the frequency of these complaints is atypical of the standard UberEats user,” and that as a result the company would henceforth refuse to send me any more vouchers. However, I still had the £10 voucher left over, which I used on a pizza from The Pizza Bakers on September 3. And later that month, a friend used my referral code — granting me a £10 voucher, which I spent on lunch from The Athenian on September 19. I also submitted an appeal to UberEats over the decision to give me more vouchers. A customer service rep agreed that my order had definitely taken too long, and sent me another £10 voucher. I spent it on yet another wrap and chips from The Athenian on September 26. (I'm now a big fan of The Athenian.) Total spent: Around £10, including the odd 50p here and there when the order I placed was slightly greater than the voucher's value. Total free food received: £180 Bon appetit!

Oil industry lobbies US to help weaken Kenya’s strong stance on plastic waste

Environmentalists fear Africa will be used as a dumping ground for plastic waste. Plastic waste meant for recycling has piled up in dumps in Kenyan cities. Oil companies are under pressure as more countries aim to shift away from fossil fuels. US and Kenya negotiate first US bilateral trade deal with a country in sub-Saharan Africa.

https://www.theguardian.com/world/2020/sep/01/kenya-plastic-oil-industry-lobbies-us

Major oil companies are lobbying the United States to pressure Kenya to change its world-leading stance against plastic waste, according to environmentalists who fear the continent will be used as a dumping ground. The request from the American Chemistry Council to the Office of the United States Trade Representative came as the US and Kenya negotiate what would be the first US bilateral trade deal with a country in sub-Saharan Africa. That deal is expected to be a model for others in Africa, and its importance helped lead to the Kenyan president Uhuru Kenyatta’s White House visit with Donald Trump this year – a rarity for an African leader during this administration. In 2017 Kenya imposed the world’s strictest ban on the use, manufacturing and import of plastic bags, part of growing efforts around the world to limit a major source of plastic waste. Environmentalists fear Kenya is now under pressure not only to weaken its resolve but to become a key transit point for plastic waste to other African countries. The 28 April letter from the American Chemistry Council’s director for international trade, Ed Brzytwa, seen by the Associated Press, urges the US and Kenya to prohibit the imposition of domestic limits on “production or consumption of chemicals and plastic” and on their cross-border trade. “We anticipate that Kenya could serve in the future as a hub for supplying US-made chemicals and plastics to other markets in Africa,” the letter says. It was first obtained by Unearthed, an affiliate of the Greenpeace environmental organization. The council repeated its request in a public commenting session in June. China’s ban on imports of most plastic waste in 2018 has forced companies to seek new places to send it, but other countries including African ones increasingly are saying they don’t want it, either. Plastic waste meant for recycling has piled up in dumps in Kenyan cities. Meanwhile, oil companies are under pressure as more countries aim to shift away from fossil fuels. The American Chemistry Council in a statement to the AP said “it is well understood that a bilateral trade agreement between the United States and Kenya will not override Kenya’s domestic approach to managing plastic waste or undermine its international commitments under the Basel Convention”, a global agreement which, as of January, will make it much more difficult to ship plastic waste to poorer countries. Nearly 190 countries have agreed to it, but not the US. The council added: “In fact, ACC never mentioned Kenya’s approach to single use plastic bags even once in our comments.” The Office of the United States Trade Representative did not respond to a request for comment. Kenya’s government did not comment. But the Kenyan trade minister, Betty Maina, in comments published on Tuesday by the local Star newspaper said Kenya will negotiate with the US “guided by Kenyan laws” and talks continue. The idea that Kenya’s government might weaken or do away with its ban under pressure from the US or oil industry has upset the country’s environmentalist. “They want Kenya to reverse its strict limits on plastics, including 2017 plastic bag ban! It’s a NO!” tweeted James Wakibia, who pushed hard for Kenya’s plastic bag ban. Griffins Ochieng, who leads the Center for Environmental Justice and Development in Kenya, said any attempt to change the laws on plastics would be hazardous. “Africa is looking like a new dumping ground, we are not going to allow that,” he said. “If true, it would be outrageous and unconscionable,” Inger Andersen, the executive director of the United Nations Environment Program, based in Kenya, tweeted. “We ⁦‪@UNEP‬⁩ are so proud of our host nation #Kenya’s strong lead on reducing plastic waste and forcing a shift away from single use plastic.” Bans on single-use plastics are growing worldwide. A global review by UNEP in mid-2018 said 127 countries had adopted some form of regulation on plastic bags.

ClientEarth to challenge secret air pollution car rules

European Union (EU) rules that would enable car makers to keep information about pollution control systems secret should be illegal, according to UK environmental law firm ClientEarth, which has announced that it will challenge the regulations in the EU's court of justice. The systems are legally able to reduce emissions controls under certain road conditions, resulting in greater pollution. Such strategies must be revealed to national regulators, but car makers argue that releasing information to the public would compromise commercial confidentiality. ClientEarth claims that secrecy around the systems increases the risk of another scandal similar to Volkswagen’s “dieselgate” affair. 

https://www.theguardian.com/environment/2017/oct/09/secrecy-around-air-pollution-controls-in-cars-faces-legal-challenge?CMP=twt_gu

New EU rules that allow car manufacturers to keep pollution control systems secret from the public should be declared illegal, according to environmental lawyers. The systems can legally cut emissions controls under certain conditions on the road, meaning more pollution is produced. But keeping these strategies secret risks another “dieselgate” scandal, according to ClientEarth lawyers, who announced on Monday that they are seeking to challenge the regulation in the European Union’s court of justice. In the dieselgate scandal, Volkswagen were caught cheating emissions rules by using software to hoodwink lab-based tests. New stricter tests came into force in September in the EU, including an on-the-road component. However, manufacturers say the emissions controls must still be ramped down at certain temperatures to protect engines. Car makers must declare such strategies to national regulators but they claim that making them public would breach their commercial confidentiality. ClientEarth disagrees, arguing that such secrecy violates EU law. “Dieselgate uncovered the huge lack of political will to hold car manufacturers to account for dangerous and illegal emissions,” said ClientEarth lawyer Anaïs Berthier. “To allow industry to continue keeping information on its emissions secret now sounds like a bad joke.” “This information must be public, so individuals and NGOs can monitor whether car manufacturers are complying with vehicle emissions rules and if national authorities are keeping the industry on the straight and narrow,” she said. Until recently, virtually all diesel cars emitted far more nitrogen dioxide on the road than in lab tests, resulting in higher levels of pollution across the world. In the UK, where 23,500 people are estimated to die early due to NO2 pollution each year, ClientEarth has twice defeated the government in the courts over the adequacy of ministers’ air pollution plans and the most recent plan was declared “woefully inadequate” by city leaders and “inexcusable” by doctors. ClientEarth lawyers argue that the confidentiality provision of EU Regulation (2017/1154) should be annulled by the EU court of justice. They believe the confidentiality rules violate EU laws governing access to environmental information and the international Aarhus Convention, which is designed to ensure public access to environmental information. A spokesman for the European commission said: “The commission has already taken robust action to limit the continuous exposure to harmful air pollution and to ensure that citizens are well informed.” Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders, which represents the car industry in the UK, said: “The UK automotive industry is investing billions of pounds in new technology to reduce emissions and pass the toughest emission testing regime in the world. Manufacturers must, however, guard all their intellectual property, including information on the emission control systems provided to [national] Type Approval Authorities, as this will be commercially sensitive.” However, ClientEarth lawyer Ugo Taddei said national authorities had failed to protect the public in the past: “To avoid a new dieselgate, tackle the widespread emission tampering practices and put an end to their detrimental and unacceptable health impacts across Europe, we need transparency, not tests carried out by discredited authorities and reckless manufacturers behind closed doors.”

Bombardier plant in NI highlights UK's trade deal struggles

American firm Boeing's quarrel with Canadian company Bombardier's alleged dumping of C Series narrow-bodied aircraft has thrown a spotlight on the difficulties posed by Brexit to Northern Ireland. Bombardier's Belfast-based factory contributes more than £183m ($247m) to the Northern Irish economy, but it's future could be in doubt if the company is hit with trade tariffs. The case highlights the difficulty of making trade deals with other nations following the UK's withdrawal from the EU. Additionally, the UK could be hurt by EU firms pushing to impose new tariffs on raw materials for the aerospace industry.

http://news.sky.com/story/the-transatlantic-spat-at-the-heart-of-the-brexit-trade-debate-11042268

Sky's Ian King is in Belfast to explore the arguments around Brexit trade, partly showcased by the Boeing/Bombardier dispute. The transatlantic spat at the heart of the Brexit trade debate Few places are seeing a more passionate debate about Brexit than Northern Ireland. It voted to remain in the EU by 56% to 44%, and feelings are running high about the consequences of Brexit because this is the only part of the UK that shares a land border with the EU. The future of the Northern Irish border is therefore featuring prominently in the negotiations between Brexit Secretary David Davis and Michel Barnier, his opposite number from the European Commission. Please use Chrome browser for a more accessible video player 2:28 Dyson calls for 'clean break Brexit' Leave aside the security concerns - which, of course, are huge. No one wants to see the re-imposition of a hard border of the kind that existed prior to the peace process, and yet the logic of the UK regaining control of its borders would point to exactly that outcome - unless the risk of migrants entering Britain from other parts of the EU, via Ireland, is going to be ignored. The trade issue is equally vexed. Mr Davis published a position paper earlier this month which suggested trade between Northern Ireland and the Republic would remain roughly as it is today. Mr Barnier said what he saw in the paper "worried" him. Please use Chrome browser for a more accessible video player 28:41 UK and Australia to 'speedily' agree trade deal Ireland is worried too and for the same reasons. No border controls with the Irish Republic would mean - assuming Britain succeeds in cutting free trade deals with other parts of the world after leaving the EU - the possibility of goods being imported from outside the EU into Belfast and then being sent down south to be exported on a tariff-free basis to other parts of the EU. Advertisement That could potentially undercut the competitiveness of EU-based producers of those goods. And now other specific concerns are coming to light about the kind of trade deals the UK will be seeking to cut post-Brexit. Boeing, the American aircraft making giant, is currently pursuing a case against Bombardier, the Canadian aircraft maker, which it says is selling its C Series narrow-bodied aircraft more cheaply than it should be. The US government is investigating whether this amounts to 'dumping' and is also looking into whether Bombardier has received illegal state aid, not just in Canada, but also from the UK. Please use Chrome browser for a more accessible video player 2:46 Plans to keep trade moving after Brexit Bombardier is one of the most important employers in Belfast and the company has received a loan from the UK Government towards the costs of developing the C Series. The Belfast factory, previously known as Shorts, employs 4,500 people. The majority of them are Protestant and vote for the Democratic Unionist Party (DUP), which is providing support in Westminster to Theresa May's Government. The future of the plant is therefore something taken very seriously by the DUP. Its leader, Arlene Foster, has said it is worth some £183m to the Northern Irish economy in wages alone - and has assumed critical importance in recent days to the extent that it came up in conversation during a phone call last week between Mrs May and President Trump. Boeing would like to see Bombardier hit with tariffs if it can be found to have been selling at an artificially low price. The future of the plant, bought by Bombardier in 1989, is likely to be among the main topics of conversation when Mrs May meets Canadian PM Justin Trudeau later on Monday - although another priority will be ensuring that a bilateral trade deal, replicating the one the EU has just agreed with Canada, can be struck between Britain and Canada post-Brexit. The spat highlights neatly some of the difficulties Britain will have as it seeks to forge new trading relationships with the rest of the world after leaving the EU. Supporting British jobs by striking free trade deals may not always be compatible with good relations with other countries whose businesses also support British jobs. That is no different from the current arrangement Britain has within the EU. However, with the aerospace industry currently exempt from EU tariffs, there is a danger some EU producers of particular parts might push, post-Brexit, for tariffs to be imposed legally on raw materials used in the manufacture of aerospace components to reduce the competitiveness of British rivals. It's easy to see how issues like this might hamper Britain's ability to strike bilateral trade deals in future.

Anheuser-Busch, Frito-Lay to buy electric trucks

Anheuser-Busch and Frito-Lay are introducing electric delivery trucks to replace diesel vehicles in California. The brewer is planning a fleet of 21 battery trucks, in association with the Center for Transportation and the Environment, while the snack food company will replace all its diesel freight vehicles, in partnership with the San Joaquin Valley Air Pollution Control District. Anheuser’s vehicles are expected to be running by 2021, while Frito-Lay’s will be introduced over the next decade, as part of a wider sustainability initiative.

https://www.greencarreports.com/news/1125391_anheuser-busch-and-frito-lay-expand-electric-truck-plans

Your beer and chips just got greener—and no, it's not St. Patrick's Day. That's the case in California, at least, where Anheuser-Busch and Frito-Lay both announced plans this week to replace diesel-powered logistics vehicles with electric trucks. A-B will introduce 21 new battery-powered trucks to its California fleet from its partner, BYD. The A-B project was made possible by grants from CARB to the Center for Transportation and the Environment. CTE will oversee the A-B project, provide technical support and handle logistical issues such as permitting and charging station plans. The equipment will be second-generation 8TT Class 8 electric trucks from BYD. “At Anheuser-Busch, we are committed to leading our industry towards a more sustainable future by reducing our carbon emissions across our value chain by 25 percent by 2025,” said A-B's Angie Slaughter. “The transport industry is one that is prime for innovative solutions and we are excited to continue driving progress towards a zero-emission fleet through this partnership.” Frito-Lay will replace all of its existing diesel-powered freight equipment at its Modesto, Calif., manufacturing facility. Frito-Lay says the result will be "an industry-leading showcase for environmentally sustainable manufacturing, warehousing and distribution." The snack maker partnered with the San Joaquin Valley Air Pollution Control District, and the result is a far more comprehensive project, targeting not just fleet vehicles, but infrastructure, energy generation and energy storage too. "Frito-Lay is continuously looking for ways to reduce our environmental impact," said Michael O'Connell of Frito-Lay parent company PepsiCo."The Modesto project is indicative of our commitment to sustainable business practices that lead to innovation, increased productivity, operational excellence and business growth." A-B's truck deployment will be complete by 2021; Frito-Lay's initiative is part of a much larger sustainability program which will not be fully realized until well into the next decade.

Anonymous Starts Operation Black October To Target Banking Sector

The online hacktivist group Anonymous has launched its ‘Black October campaign’ from October 1 to 31. In an accompanying video, the anonymous insisted people to stop using banking services for the whole month, possibly leading to stronger demand for cash and alternative currencies such as bitcoin. The group encourages the people to withdraw all funds from bank accounts, stop using debit or credit cards, and  spread the campaign all over the world, to change the future. In doing so, Anonymous hopes to be able to identify and  highlight the corrupt attitudes of financial and banking sectors.  

https://www.hackread.com/anonymous-operation-black-october-against-banks/

It’s time to Pull your Money Out of the Banks- Suggests the Online Hacktivist Group — Anonymous Takes Hacktivism to Another Level. The online hacktivist group Anonymous known for targeting government servers has now shifted its focus on the financial and banking sectors. Using its conventional approach, the group announced the launching of its latest campaign the Operation Black October through a YouTube video. The hacktivist urged people to take out all their money from the banks as soon as possible. Objectives to be achieved: Several goals of this operation have been identified by Anonymous and the group has encouraged users to: * Empty all your bank accounts * Do not use debit or credit cards * Make cash payments only * Not to forget, spread the word This operation appears to be the Main Campaign of Anonymous in October. The group apparently has dedicated its efforts to identifying and highlighting the corrupt attitudes within the banking and finance sectors. Anonymous’s approval of alternate solutions like Bitcoin is not hidden from anyone despite the fact that it wasn’t mentioned in the video. The construction of Bitcoin makes it appealing to not just social outcasts and hackers but also the banking sector. As per news reports from the previous weeks, nine of the largest banks in the world were considering the creation of their personal blockchain servers. Blockchain server is among the primary technologies used to create bitcoin digital currency.

Fitting rooms evolving into another area to extract customer data

Fitting rooms are becoming a new area for customer data extraction, with RFID technology and scanning systems tracking the in-store products that customer are trying on. Brands can keep their stock tailored to customer trends and rotate items based on demand, even providing "smart mirrors" that display item information based on what is being considered for purchase. Fitting rooms are key points for communication, providing insights to brands to inspire reactive strategies.

https://digiday.com/marketing/brands-fitting-rooms-key-unlocking-valuable-customer-data/

In a brutal retail landscape cast in Amazon’s ever-expanding shadow, brands’ ability to gather, understand and react to customer-driven data has hit a do-or-die point of urgency. As a result, no part of the customer journey is safe from data collecting — not even the fitting room. “What’s most important for retailers when using data and technology to interact with customers is that they actually respond to what customers want and don’t want,” said Sara Bamossy, chief strategy officer at the agency Pitch. “Every time a customer comes in and out of the fitting room, they’re demonstrating a choice about your product.” Even as stores close, fashion brands, both traditional and digitally native, recognize the value of the in-store experience: the ability to see items in person. Amazon, in its typical fashion, has upped the stakes by not only opening its own bookstores and buying Whole Foods, but also rolling out a try-before-you-buy option for its clothing shoppers. The move suggests that — no matter how quick, painless and free online shipping and returns are — customers still want to see how something fits before committing. So, fitting rooms are evolving past poorly lit mirrored closets and transforming into critical data touch points. By tracking the movement of in-store products using RFID technology and scanning systems, brands can follow item-by-item performance to make decisions. When Reformation opened its fourth store in San Francisco, the direct-to-consumer brand for sustainable women’s clothing launched a new store concept that included the fitting room’s “magic wardrobe” feature. Customers tell associates what they want to try on, either in person or on one of the store’s digital touch screens, and then they’re sent to a fitting room where everything is waiting. That way, all items that go into a fitting room are logged by the brand. This information determines merchandising and store layouts down the line. “We keep our sales floor super streamlined,” said Yael Aflalo, Reformation’s founder, in a previous interview. “If something never goes into the dressing room, or if it doesn’t convert, we’ll stop putting that out. If there’s something that converts really well, we’ll promote that item. The floor serves as a place for intelligent customer product suggestions.” In its fitting rooms, Reformation has screens that display what’s being tried on, and lets customers alert staff that they’d like to try a different size and color. For brands looking to mine customer data from the fitting rooms, customer-facing tech also plays a role: Rebecca Minkoff and Ralph Lauren have both experimented with the same smart-mirror technology that, using RFID tags, instantly recognizes what items are in the fitting room when a customer enters. From there, customer can browse other colors, sizes, and what suggested items go with those products. They can also change the lighting of the fitting room for a better view. The idea is that the better experience someone has in the fitting room, the more likely they are to buy. At the same time, brands can keep an eye on specific items: If something keeps going into the fitting room and not getting purchased, it signals that something’s wrong. “The point is that you’re not just considering what to buy, but how you might wear it,” said Uri Minkoff, CEO of the Rebecca Minkoff brand. “Not only does that mean we’re selling a lot more clothing than we thought we would, but we’re getting tremendous data as a result.” In stores, Rebecca Minkoff’s clothing sales tripled expectations, while Minkoff said the data helped them recognize new opportunities. As a brand that focused predominantly on office attire, fitting room technology signaled that customers were looking for more nighttime wear. Beyond taking fitting room data to tweak production and design, brands are opening up the flow of communication across in-store and online channels, with insight stemming from the fitting room. Online athletic brand Fabletics, which operates on a membership model, lets customers leave items they’re unsure about in their shopping carts online in order to come back to them later. That data is then used to retarget customers based on their in-store interests. So far, most companies that have pulled off a coherent connection between fitting room behavior and how it affects the business have done so on a relatively small scale. Ralph Lauren, which uses the same fitting room technology as Rebecca Minkoff, has only tested it in two of its stores. It’s not that the technology itself is impossible to scale — RFID tech is inexpensive to maintain once inventory is overhauled — but that brands aren’t yet prepared for the surge of data that’s going to land on their laps once they do. “It’s scalable, but retailers need to position themselves to be able to pivot on a daily basis in reaction to this data,” said Ray Dollete, associate director of creative technology at Phenomenon. “Retailers aren’t tech organizations. Amazon has 18 years of data profiling and reacting on them. They’re moving forward — meanwhile, if you’re a traditional retailer you’re just beginning to figure out how data fits into the fitting rooms.”

Renewables to attract $3.4tn in investment by 2030: research

Renewable energy will receive $3.4tn investment by 2030, according to Frost & Sullivan. The report expects $2.72tn to be spent on wind and solar projects, with falling costs and countries’ renewable-focused energy policies behind the predictions. The research predicts that more than half of installed capacity across the world will be clean power by 2030, with renewables expected to exceed 72% of new energy in India. Frost & Sullivan forecast strong battery storage growth in China, while Europe is forecast to grow its energy storage from 3 GW in 2019 to 70 GW by 2030.

https://renews.biz/62804/clean-power-to-attract-34-trillion-by-2030/

Frost & Sullivan says renewables will account for over half of global capacity by the end of the next decade Up to $3400bn (€2849bn) will be invested in renewable energy in the next decade, according research by market analysts Frost & Sullivan. The research – 'Opportunities from Decarbonization in the Global Power Market, 2019–2030' – estimates that $2.72 trillion will be spent on wind and solar power projects by 2030. Falling costs and renewable-friendly energy policies adopted by many countries are the main reasons for the prediction, the company said. Frost & Sullivan said that by 2030 over 54% of global installed capacity will be clean power, including hydro, with wind and solar accounting for just under 38%. For example, in India renewable energy is projected to account for more than 72% of new energy additions over the next decade. Frost & Sullivan senior research analyst in the industrial practice Vasanth Krishnan said: “Decentralisation, decarbonization, and digitalization are the three key pillars of the global energy transition. “The power sector will witness strong growth in decentralisation during the decade, with annual global investment increasing from $53.14bn in 2019 to $92.54bn in 2030. “Pressure will continue to build for further decarbonisation within the power system as the rate of adoption of digital technologies increases in both existing and future plants to boost operational performance. “The surge in need for flexibility is the most significant trend observed across developed markets. “System operators are coming under increasing pressure to manage the system with uncertain renewable output, declining coal output, and demand-side variability. “As a result, technologies and solutions such as battery energy storage systems, gas engines, demand-side response, and virtual power plants are witnessing unprecedented adoption rates amongst utilities, solution providers, and end consumers.” Frost & Sullivan said that battery storage will accelerate rapidly in China, which will represent 62% of the market. In Europe, storage will grow to 70GW in 2030 from under 3GW last year.

Tender open to secure hybrid solar for 14,000 schools in Haryana

Utkarsh Society has launched a tender to find companies to install hybrid solar systems under the RESCO model in 14,000 state-run schools. It comprises a capacity of 1 kW to 6 kW for 10,908 primary and middle schools, and between 1 kW and 28 kW for 3,222 high and secondary establishments. The tender also mandates the inclusion of allied infrastructure, remote monitoring and an e-surveillance system for 25 years.

https://mercomindia.com/haryana-hybrid-solar-systems-government-schools/

Utkarsh Society has issued a tender for the selection of service providers to install hybrid solar systems under the RESCO model in over 14,000 government schools across the state of Haryana. The tender also calls for allied infrastructure, remote monitoring, and e-surveillance system. The deadline for the submission of bids is October 21, 2019. Interested bidders need to submit a fee of ₹5 million (~$70,556) as the earnest money deposit (EMD). The tentative capacity for the number of schools has been divided into primary, middle, high, and secondary schools. A capacity between 1 kW to 6 kW has been tendered for 10,908 schools comprising primary and middle schools. The tender for high and secondary schools, 3,222 in total, ranges between 1 kW to 28 kW. The scope of work covers ensuring uninterrupted power supply in schools and effective utilization of labs in schools on build-own-operate (BOO) basis under the RESCO model. The work also includes warranty and maintenance of solar systems along with allied infrastructure and e-surveillance system for a period of 25 years. The general criteria mentioned in the tender states that the bidder should have installed a hybrid solar power system with remote monitoring facility on at least 500 sites on OPEX or RESCO model in government organizations.

Bill Gates says coronavirus is a pandemic, offers solutions

The coronavirus, Gates wrote, is behaving like a "once-in-a-century pathogen. Gates said making vaccines affordable for everyone is the "right strategy" for containing the coronavirus outbreak. Americans are being told to prepare for a coronavirus outbreak and that US health agencies lack funding.

https://www.businessinsider.com/bill-gates-coronavirus-pandemic-solutions-2020-2?amp

Email icon An envelope. It indicates the ability to send an email. Facebook Email icon An envelope. It indicates the ability to send an email. Email Twitter LinkedIn icon The word "in". LinkedIn Bill Gates. AP Photo/Jose Luis Magana Top editors give you the stories you want — delivered right to your inbox each weekday. By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy We are so sorry! We bumped into a system failure and couldn't take your email this time. Thanks for signing up! Bill Gates has warned for years that the world is not ready for a deadly pandemic. Some of his ominous predictions are now playing out as the coronavirus spreads around the globe. The virus causes a disease known as COVID-19 and has killed almost 2,900 people and infected more than 83,000 others globally since December. The vast majority of cases and deaths have been in China. "In the past week, COVID-19 has started behaving a lot like the once-in-a-century pathogen we've been worried about," Gates wrote in an op-ed for the New England Journal of Medicine. "I hope it's not that bad, but we should assume it will be until we know otherwise." Gates referred to the outbreak as a pandemic, even though the World Health Organization has not yet made that declaration. The group has said instead that the virus has "pandemic potential." "In any crisis, leaders have two equally important responsibilities: solve the immediate problem and keep it from happening again," Gates wrote. "The COVID-19 pandemic is a case in point. We need to save lives." In the op-ed, Gates suggested the following solutions that could slow the virus' spread: Wealthy countries should supply low- and middle-income countries in Africa and Southern Asia with trained healthcare workers to monitor the virus' spread and deliver vaccines. Establish an international database where countries can share information. Develop a system that screens for compounds that have already been safety-tested to use in a vaccine. Governments and donors should fund manufacturing facilities that can pump out vaccines within weeks. Gates compared COVID-19 to the 1957 flu pandemic, which killed more than 1 million people, and the 1918 flu pandemic, which killed 50 million people. The current outbreak, he wrote, is somewhere in between. Gates said everyone should have access to an affordable vaccine Gates predicted that large-scale trials for a coronavirus vaccine could happen as early as June. Anthony Fauci, the director of the National Institutes of Health's infectious-disease center, recently said that he hoped to start testing vaccine candidates in people by mid-April. Associated Press However, drug development is typically a multiyear process that can cost about $1 billion in the US. Gates said making vaccines affordable for everyone was the "right strategy" for containing the coronavirus outbreak. "Given the economic pain that an epidemic can impose — we're already seeing how COVID-19 can disrupt supply chains and stock markets, not to mention people's lives — it will be a bargain," he wrote. On Wednesday, Health and Human Services Secretary Alex Azar declined to promise that a future coronavirus vaccine would be affordable for all Americans. But he backtracked day later, saying that any vaccine developed in conjunction with the US government would need to be financially accessible to the public. The Bill and Melinda Gates Foundation has already contributed $100 million toward the fight to contain the outbreak. In his op-ed, Gates said warding off a pandemic would require billions of dollars. "There is no time to waste," he wrote. Though China has seen a drop-off in its rate of new cases in recent days, the coronavirus has spread to at least 55 other countries. At least 72 people have died outside mainland China. Read more:

Bittrex exchange halts ethereum deposits due to congested network

The world's third biggest cryptocurrency exchange, Bittrex, has been forced to temporarily suspend Ethereum deposits, due to congestion on the blockchain network, caused by other decentralised operations. One of the biggest culprits is Cryptokitties, an application which allows users to trade and sell cartoon kittens, responsible for one-fifth of the traffic on Ethereum. While solutions including Plasma and Casper could alleviate the problem, Augur co-founder Joey Krug said its there are not enough developers working on Ethereum's core protocol. Binance and Bithumb exchanges have not been affected.

https://www.ccn.com/bittrex-stops-creating-new-ethereum-deposit-addresses-due-network-congestion/

Bittrex, the third largest cryptocurrency exchange in the global market behind Binance and Bithumb, has temporarily paused Ethereum deposits due to the current congestion on ... Bittrex, the third largest cryptocurrency exchange in the global market behind Binance and Bithumb, has temporarily paused Ethereum deposits due to the current congestion on the Ethereum blockchain network. Network Congestion According to Etherscan, the Ethereum network is processing more than 1.2 million transactions on a daily basis, settling more payments than all of the cryptocurrencies and blockchain networks in the market combined, including bitcoin. The Ethereum network has to process more transactions than other blockchain networks because it operates as the base protocol for large-scale decentralized applications. Applications like CryptoKitties and EtherDelta, that have many active users requesting multiple transactions per day, are placing a heavy burden on the Ethereum network. “While innocuous at a glance, the project has become a problem for the Ethereum ecosystem. The cryptokitties multiply, are bought, sold, rented for breeding, in other words, involved in myriads of transactions, taking up the largest volume of Ethereum traffic (20%). This causes many transactions that had previously taken seconds to currently be either delayed to 10 minutes, or fail entirely,” explained the developers of Bankex that recently introduced the first practical implementation of Buterin’s second-layer solution Plasma. The congestion of the Ethereum network caused by the rising popularity and activity of decentralized applications can be resolved through second-layer scaling and solutions such as Plasma, Sharding, and Casper. But, as Augur co-founder Joey Krug noted, there are not enough developers working on the core protocol of Ethereum and consequently, Ethereum co-founder Vitalik Buterin stated that fully scaling Ethereum could take two to five years. Bittrex Disables Deposits Given the recent increase in the transaction fee of Ether, Bittrex has disabled Ether deposits onto its trading platform temporarily. As seen in the chart below provided by Etherscan, the transaction fee of Ether has increased drastically over the past week, forcing Bittrex to take an extreme approach by disabling Ether deposits onto its platform. “Due to incredibly high gas prices, we’re preventing new ETH and asset deposit addresses from being created. Existing deposit addresses will work as normal,” said Bittrex. Gas is the transaction fee paid by decentralized applications to execute operations. On CryptoKitties and EtherDelta for instance, users pay gas to trade digital cartoon kittens or to execute trades on the decentralized cryptocurrency exchange of EtherDelta. If the gas costs increase due to the congestion on the Ethereum network, it becomes more inefficient and challenging for decentralized applications to operate seamlessly and handle millions of requests in a brief period of time. For this specific reason, Bittrex also disabled new Ether and asset deposit addresses from being created. Other major cryptocurrency exchanges like Binance and Bithumb have not disabled Ether deposits and the creation of new deposit addresses. Considering the large number of unconfirmed transactions on the Ethereum network, it is likely that Bittrex will disable new deposit addresses from being deployed for a relatively long period of time. It has also started to cost users more than $1 to send Ether from one address to another. While the current rate of Ether transaction fee could decrease in the short-term, until then, users on exchanges and decentralized applications will struggle. Featured image from Shutterstock.

Senegal begins construction on $250m stadium

*I'd suggest amending the headline to $266m* Senegal has begun work on a €238m ($266m) 50,000-seat stadium, which will host events of the 2022 Summer Youth Olympics.

http://www.insideworldfootball.com/2020/02/25/senegal-launches-250m-stadium-build-youth-olympics-afcon-targeted/

By David Owen February 25 – Senegalese President Macky Sall has launched construction of a new 50,000-capacity stadium in the West African country that is destined to stage events at the 2022 Youth Olympic Games. The future national stadium, in Diamnadio, is expected to cost €238 million, with work in the hands of the Turkish company Summa. According to the allafrica.com website, last week’s event was attended by members of the national Government, as well as sports personalities including the former Liverpool footballer El Hadji Diouf, man of the match in Senegal’s celebrated 1-0 win over world champions France at the 2002 World Cup, and FIFA’s Fatma Samoura. Sall told those present that he conceived the ambition to build the stadium in the wake of another World Cup match – that between Senegal and Poland at Spartak Stadium in Moscow in 2018. This game was also won by Senegal, this time 2-1. “It was a large price,” he said, using the French word prix that can also mean ‘prize’. “I considered that Senegalese youth and Senegalese sport were priceless.” The report indicates that Sall’s vision for the new stadium includes a future Africa Cup of Nations. This would be in addition to playing a role in Dakar 2022, the first Olympic event to take place in Africa. Senegal hosted the continental football competition in 1992, when the trophy was lifted by Côte d’Ivoire, who beat Ghana 11-10 on penalties following a goalless draw. Located a few hundred metres from the new Dakar Arena, another Summa project, the ‘Stade du Sénégal’ will comprise a football pitch in line with FIFA norms, two training areas and an athletics track. “This future temple of sport will contribute towards making this city of Diamnadio an African and a global reference-point,” said Mamadou Ndiaye, the President of the Senegalese National Olympic Committee and International Olympic Committee member. Contact the writer of this story at moc.l1686594032labto1686594032ofdlr1686594032owedi1686594032sni@n1686594032ewo.d1686594032ivad1686594032

Carriers prepare to bid farewell to the old bill of lading

Digital Container Shipping Association (DCSA) states that moving towards a standard, paperless bill of lading will derive $4bn in potential annual savings at a 50% adoption rate for the container shipping industry. DCSA carried out a financial modelling exercise to quantify the potential cost savings for switching from paper to electronic bills. The total cost of processing paper bills is almost three times that of electronic ones.

https://splash247.com/carriers-prepare-to-bid-farewell-to-the-old-bill-of-lading/

The Digital Container Shipping Association (DCSA), which features the IT expertise of the world’s top liners, is determined to consign the centuries-old bill of lading to history. In a new report, the DCSA states that moving towards a standard, paperless bill of lading will derive $4bn in potential annual savings at a 50% adoption rate for the container shipping industry Since the first efforts to digitise bills of lading in the late 1990s, the promise of an electronic bill of lading for the container shipping industry has remained elusive. In fact, Tradelens, the Maersk and IBM blockchain platform, goes so far as to call an electronic bill of lading standard the “Holy Grail of global trade”. Like the Holy Grail, there are a number of obstacles on the road to attaining it. “Eliminating paper from the shipping transaction will make every aspect of commercial container shipping better, faster, cheaper, more secure and environmentally friendly,” DCSA stated. Despite the lack of a standardised approach to digitalisation, some carriers and solution providers have continued to move forward with proprietary electronic bill of lading initiatives, albeit at a limited scale. However, as André Simha, global chief digital and innovation officer for MSC and DCSA chairman recently noted, “The Covid-19 situation is bringing the core strengths of a standardised eBL to the fore. Cargo in ports cannot be gated out because of paper that is stuck elsewhere due to airfreight delays caused by the pandemic.” In an effort to fully understand the benefit of digitising the bill of lading, DCSA carried out a financial modelling exercise to quantify the potential cost savings for switching from paper to electronic bill of lading. The research showed the total cost of processing paper bills is almost three times that of electronic ones. At a global economic growth rate of 2.4% through 2030, as forecasted by the OECD, the DCSA estimates that the industry can potentially save more than $4bn per year if 50% electronic bill of lading adoption is achieved. In aviation, IATA introduced e-Air Waybills for airfreight in 2010. At present, adoption of is over 68% in airfreight. “Achieving acceptance of electronic documentation for something as critical as the bill of lading requires maintaining the integrity and uniqueness of the document as it makes its way along the supply chain,” DSCA stated, pointing out how technologies such as distributed ledger technology (DLT), peer-to-peer and blockchain offer potential solutions for eliminating the risk of a single catastrophic failure or attack that would compromise the integrity and uniqueness of an electronic bill of lading. Concerns over legal enforceability have also been a barrier to widespread adoption of the electronic bill of lading. Not every government has provisions for an electronic form. Many of them require paper, and the lack of industry-standard language and definitions have made it impossible for them to rubber stamp an electronic replacement. However, progress is also being made in this area, and accelerated as a result of the Covid-19 crisis. A number of DCSA members have reported a sharp increase in electronic bill of lading adoption in an effort to keep trade moving. In addition, the International Group of P&I Clubs, which provides indemnity insurance to around 90% of the world’s ocean-going tonnage, has picked up the pace on approving electronic bill of lading solution providers, with two added in the last six months to a total of six approved so far. For any robust technology, such as blockchain or digital ledger, to safely deliver an electronic bill of lading from end-to-end, data model and transmission standards need to be in place. If everyone who touches the electronic bill of lading is using the same data format and communication standards, it can be transported seamlessly regardless of pre-existing relationships between stakeholders, DSCA pointed out. “Digital standards will enable interoperability between all stakeholders, such as system providers, shippers, carriers, banks and regulators. Different parties can be involved in a transaction as long as they have implemented the standards. Once a standard eBL is available, it will also be easier for regulators, banks and insurers to accept the eBL as a viable alternative to a paper BL,” the report maintained. This month, DCSA will embark on an initiative to enable the open collaboration necessary for achieving full electronic bill of lading adoption. As part of this initiative, DCSA will develop open source standards for necessary legal terms and conditions, as well as definitions and terminology to facilitate communication among customers, container carriers, regulators, financial institutions and other industry stakeholders. “DCSA’s mission is to drive alignment and digital standardisation to enable transparent, reliable, easy to use, secure and environmentally friendly container transportation services. Digitising documentation, starting with the bill of lading, is key to the simplification and digitisation of global trade” remarked Thomas Bagge, CEO of DCSA. “The transformation that has taken place in the airline industry is an example of what’s possible if we work together. The e-Air Waybill is now the norm rather than the exception among air carriers. We invite industry stakeholders to work with us to create standards that will make the eBL maximally useful and relevant for ensuring their goods are delivered safely and seamlessly to their final destination.” Smart bills of lading are now being pioneered by many companies across the world. The old fashioned paperwork has attracted much criticism in recent years. At a Maritime CEO Forum in Singapore two years ago bills of lading were described as something that have not changed much from the times of Columbus, apart from moving via DHL rather than on horse.

PayPal keep fraud levels below average due to AI

PayPal are proving that artificial technology is the best way of keeping the presentation of threats. The company's fraud rate marks at 0.32 percent of its revenue compared to a 1.32 percent average.

https://www.google.com/url?hl=en&q=http://jamaica-gleaner.com/article/news/20160509/tech-times-how-paypal-boosts-security-artificial-intelligence&source=gmail&ust=1462961808096000&usg=AFQjCNEg4JgmH0gzoJxGxZPvg2GsNpTi4g

The page you were on is trying to send you to http://jamaica-gleaner.com/article/news/20160509/tech-times-how-paypal-boosts-security-artificial-intelligence If you do not want to visit that page, you can return to the previous page

VR: The future of live content?

Live VR broadcasts are becoming more popular. The technology takes a step beyond watching broadcasts on a flat 2D screen, and brings people into an audience. The value of VR is that they can watch a live show with greater immersion than anyone sitting at home.

https://www.ibc.org/trends/vr-the-future-of-live-content/5656.article

With households under lockdown, many consumers are looking at new ways of engaging content. But can live VR content take up the mantle? Or will challenges around live VR production prevent this. Tom Ffiske investigates. As stadiums remain silent and cameras sit in storage, audiences are braced for a lack of fresh broadcast content. The absence is felt like a presence; the cheer of crowds or the snap of drama no longer filling weekend living rooms, and an audible silence remains. Yet crises also push new opportunities forward, at a faster pace. Governments are using new technologies which, in ordinary times, would have taken years for adoption. The same is true for broadcasting. Companies are looking into other ways to deliver their live content, from National Theatreplays delivered via live YouTube broadcasts or the launch of Disney+. For others, it means looking into live VR broadcasts as a good option for providing content. While immersive tech has been around since the 1980s, Facebook’s acquisition of Oculus in the mid-2010s injected vibrancy in the nascent industry. Businesses saw potential too. Imagine sitting in a living room, donning a VR headset, and watching a live game as though sitting in a stadium, or a play. The technology takes a step beyond watching broadcasts on a flat 2D screen, and brings people into an audience. On paper, the potential is there. While there are barriers from costs to support, industry professionals are confident that the technology will rapidly progress. Taking a step back By now the broadcast industry is well-aware of VR’s benefits and quirks. Scores of VR experiences offering small, bite-sized activities elevate the viewing experience, tugging a visceral reaction from watchers. A kit unveiling of UK-based Reading Football Clubfeatured a VR experience where users felt like they were sat in the club’s home stadium. There’s value in feeling part of a crowd (and a nearby bathroom without a queue). But the technology at the time was basic; often reduced down to a Samsung Gear headset with blurred imagery. The first live VR broadcast was not sophisticated. Created by NextVR in 2015, it was a simple 180-degree production of a beach, using an 8mbps connection streamed to a Galaxy Note 4. A technological barrier existed for a time. But it outlined the firm’s ambitions; after pushing pre-recorded Coldplay concerts and NBA games, NextVR wanted to provide live VR content for anyone to watch. Five years later, NextVR is consistently regarded as one of the best media applications on the Oculus platform, delivering live games from the NBA. The deal seems to be successful, as NextVR and the NBA extended their agreement in late 2019. Live broadcasts go beyond sports as well. On December 2018, MelodyVR, a production company, announced their own first live VR broadcast - this time focusing on music. The company streamed Liam Payne’s performance from a secret location, and fans watched the former One Direction member via the MelodyVR app. MelodyVR declined to comment for this article, though it is clear the company is focusing on live musical content in the future. Theatrical productions, musical shows, and sports events are the most obvious ways to use live VR broadcasts. All of them have monetisable options with seasonal or single tickets per showing, as an additional revenue option for people who cannot attend. The overwhelming feedback in all cases is the feeling of presence; sitting on the seats looking up, as part of the experience. The technology has reached the point where companies can deliver high-fidelity broadcasts – and the market has responded with content that uses the capabilities. Read more: Where live music meets the future Looking at esports Perhaps the most exciting area is esports, with a lot of innovation in the area. Weavr, an immersive platform, has been streaming sports and esports since last year assisting the European Sports League (ESL). Viewers can watch a game of Dota 2, with a war table in front of them that shows heroes prowling across the map, and a massive screen above that showed the gameplay. By rifling through the options, they can see the stats of who killed the most minions and other stats from the game. The technology used a blend of data, streaming, and commentary in conjunction with one another for a powerful effect. ‘Audience reception has been great,’ said Jonathan Newth, CEO of Focal Point VR. Weavr operates as a consortium where companies handle different parts, and Focal Point VR is responsible for the immersive live stream video broadcast. ‘In addition to high resolution 360 cameras position in the stadium to create the remote auditorium view we placed VR cameras directly behind the teams, providing a privileged viewpoint which could only be experienced using in VR; this viewpoint was really liked by esports fans. A number of fans cited this viewpoint alone as a good enough reason to go out and buy a VR headset.’ The focus on esports makes sense. Already technologically literate, an esports audience can get a lot from watching games like Dota 2, with a stream of data to peruse and analyse. As a platform, Weavr is robust for all sorts of uses. All about the money Still, the technology needs some progression. VR cameras are expensive, shooting high-fidelity shots in pixel-counts that can make most computers buckle. Then the feed needs to go through a server that processes the raw content, and delivers it in the right format to people donning the headsets. Beyond hardware is the specialist personnel costs. The niche talent needed to run VR broadcasts flawlessly takes a team of people. Such broadcasts need specialists, with a high price tag. Another high cost is informing teams and executives the benefit of VR. Tupac Martir, Founder at Satore Studio, said that it’s necessary to frame it as a ‘storytelling’ tool to highlight its perks, which takes time. ‘By making it useful as a storytelling technique, it is important to understand why it is in the story and not just because we could, but rather because we needed it.’ Yet benefits exist too. With the extensive pre-production and shooting, teams save costs with limited post-production required. ‘You save so much in post, that it balances out or even makes it cheaper,’ said Martir. The high costs of production and technology, combined with its restricted reach, makes it a difficult proposition for some companies. Knowing this, production companies respond with the power and persuasion that VR broadcasts can deliver for the few that would use it. If a fewer number of people that use VR fork out the cash, then the money balances out. Immersive broadcasts in the future Though the technology is ready to handle massive live events, immersive broadcasts will not become mainstream over the next few years. Not everyone is willing to buy a VR headset to watch content, when they already have a television in their homes that has multiple uses beyond watching live events. Cheaper hardware will raise sales. Yet the value of VR is that, for the select few with the capabilities, they can watch a live show with greater immersion than anyone sitting at home, and are willing to pay for the access. The next step for many companies is social immersion; integrating friends and family in the same way they commune around a TV over a weekend. VR is often seen as an isolating, solitary experience,’ said Newth, ‘but we see it having the potential to be the opposite. Bringing friends and communities into the experience, being able to see what they see remotely, talk (using voice over IP) and share experiences is a core part of the Weavr VR touchpoint within the platform.’ In short, the technology should integrate social elements for success. Social bonding is a vital part of any live performance. Any experience increases in impact if shared with others, whether it is at the location or sitting at home. VR means we reach a point where we can sit with friends from miles away, bonding over shared experiences.. While stadiums stay silent, living rooms may roar.