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US adults turn to the internet before primary care physicians | More than half of adults in the US have reported using internet searches to look up symptoms of illness before seeking primary medical care, according a survey conducted by the University of Phoenix. It found that 74% of patients believe access to online health records is important, although only 37% currently had such access, and only 25% had used them in the last year. Similarly, while 59% considered the ability to book an appointment online to be important, only 15% had made use of the service in the last year.
| http://www.mobihealthnews.com/content/survey-59-percent-adults-have-used-online-resources-place-primary-care | 2017-10-18 11:04:23.083000 | Fifty-nine percent of American adults used a website like WebMD to look up symptoms instead of visiting a primary care physician, according to a new survey, while only 12 percent used telemedicine in place of primary care.
The data comes from the University of Phoenix College of Health Professionals, which completed an online survey of 2,201 individuals across a range of demographic backgrounds. The data provides interesting insights into adoption of health technologies.
“The healthcare industry is shifting to a patient-centered model that harnesses technology to both open communication channels and create a platform for patient engagement,” Doris Savron, executive dean for the College of Health Professions, said in a statement. “Given this shift, it is crucial that patients not only have access to these technologies, but also view them as important resources for improving their health and overall care experience.”
Respondents were also asked about their use of online health records, online appointment booking, online chat capabilities, text message appointment reminders, and e-prescription refills.
For online health records, 37 percent said they currently had access to their records, but only 25 percent said they had used accessed online health records in the past year. Seventy-four percent of respondents rated online health records access as somewhat or very important.
For appointment booking, 27 percent had access, but just 15 percent had made use of it in the past year. Fifty-nine percent considered it important
Online chat had the lowest adoption, with 17 percent having access and only 5 percent using it, but 49 percent of respondents still rated it as somewhat or very important.
Twenty-eight percent had used text message appointment reminders though 35 percent had access to them. Sixty-four percent rated them as important to their care.
Finally, for e-prescribing, 39 percent had access, 26 percent had taken advantage of that access over the last year, and 72 percent considered it an important resource.
Certain demographic trends held across each of the technologies asked about in the survey. In every category except online chat services, women were considerably more likely than men to have used the technology, which could be explained by the fact that women are more often caregivers and often responsible for healthcare within a family.
In most categories, usage of technology correlated with income and educational level. For instance, in the e-prescription category, 38 percent of those earning $100,000 per year or more had used the technology in the last year, compared to just 21 percent of those earning less than $50,000.
Correlations with ethnicity were less consistent. In fact, in the category of online chat capabilities, people who identified as Hispanic were more than twice as likely as white-identifying respondents (11 percent versus 5 percent) to have used these services — perhaps because chat tools are easier to navigate with a language barrier.
The full survey asked about a number of issues beyond technology, including what qualities participants valued in their providers and questions about insurance coverage decisions.
“The data shows that technology is just one piece of the puzzle when it comes to patient care,” Savron said. “Although new technologies are resources that we should lean on to help improve communication, interpersonal skills are the foundation for ensuring patient trust and better care.” |
Consumer genetics apps derided as 'pseudoscience' | The potentially lucrative market in direct-to-consumer gene reports could be at risk from a slew of products which, some critics have argued, do not have a strong scientific basis. Helix, a spin-out from gene sequencer Illumina, sells a range of products based on genetic information on behalf of third-party firms that do everything from helping people manage their weight to offering a look at what a couple's future child may look like. California-based geneticist Eric Topol said: “The data has no basis. It’s pseudoscience.” The US Federal Trade Commission is monitoring the sector closely but said it does not want to impede innovation.
| https://www.technologyreview.com/s/609103/how-to-spend-1900-on-gene-tests-without-learning-a-thing/ | 2017-10-18 10:15:40.410000 | In response to critics, Helix cofounder Justin Kao cautions against a “paternalistic” attitude toward what kind of information consumers should be able to spend their money on. “People should be able to choose how they want to interact and experience DNA-powered insights and decide for themselves what is of value to them,” he says.
Helix has a detailed process for screening the science behind tests it markets and has rejected more than a dozen, according to Kao. Others have been modified to restrict what they claim DNA can do. Helix also gets advice from a panel of six scientific advisers who meet by phone or in person, including to talk about upcoming apps.
One is Gonçalo Abecasis, a population geneticist at the University of Michigan. “We say ‘That makes sense,’ or ‘That is crazy.’ It’s a lively discussion every time,” says Abecasis. He thinks Helix is an important experiment because it is exploring what mass-market uses of the genome will look like. And some apps that bother Topol don’t bother him at all: “If I sell you a scarf patterned with your DNA, you could say, ‘Hey, is that worth it?’ But you wouldn’t say, ‘Where is the scientific evidence?’”
To Ewan Birney, director of the European Bioinformatics Institute, the direct-to-consumer DNA phenomenon is a typically American approach, led by private companies and focused on individuals. By contrast, in Europe there’s more emphasis on national projects whose findings can be integrated into national health services, he says.
Diet apps
One of the newest apps on Helix is from Arivale, a spinout of the Institute for Systems Biology in Seattle, which calls itself a “scientific wellness company.” The concept is to surround customers with a “data cloud”—comprehensive information about their blood, gut microbes, and DNA—that could be used to suggest dietary changes.
Helix
The full program costs more than $1,000 per year. But for $89, via Helix, the company is offering customers an initial look at their genes and one consultation with a dietitian. The weight loss app, called Beat Your Genes, lets people view screens indicating whether, genetically, they are more or less predisposed to having a high body-mass index.
These DNA clues can inform personalized diet advice, says Arivale CEO Clayton Lewis. Do you taste bitter foods more intensely? Maybe the dietitian can suggest that you sauté your onions. Do you have a propensity for higher weight on a paleo diet? Try a switch to carbs. |
Death toll in San Diego's hepatitis A outbreak rises to 19 | The death total in San Diego’s ongoing hepatitis A outbreak reach 19 Tuesday, one more than last week, according to a newly-released health department update.
| http://www.sandiegouniontribune.com/news/hepatitis-crisis/sd-me-hepatitis-19-story.html | 2017-10-18 10:05:02.227000 | The death total in San Diego’s ongoing hepatitis A outbreak reach 19 Tuesday, one more than last week, according to a newly-released health department update.
Case counts also increased from 490 to 507, according to the county Health and Human Services Agency. The increases are the latest mileposts in a public health emergency that has grown among the region’s homeless and drug-using residents every week since it was first detected in early March.
While the increases have been relentless, there are reasons, said Dr. Wilma Wooten, the county’s public health officer, to think that the outbreak’s growth may be slowing.
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Last week, she said, 10 new cases were reported to the county and, while that’s surely more than anyone would hope, it’s significantly less than the number of new cases coming in every week just a few months ago.
“The numbers are slowing down. It’s not the 20 cases a week that it has been in June, July and August,” Wooten said on Tuesday.
But the physician was reluctant to say that she’s seeing a new trend. Outbreaks are unpredictable and, because the virus causing so many infections and has a very long incubation period, it is still possible to see the number of cases surge.
“We have to be cautious. We know that this virus has an incubation period of 15 to 50 days, and we know that there are cases out there that just haven’t started to show symptoms yet,” Wooten said.
Vaccination has always been the lynchpin of the county’s outbreak-fighting strategy. As of last week the county reported that 68,500 hepatitis A vaccinations have been administered since March.
Nearly 100 hand-washing stations and more portable toilets have been installed around the region, while regular sidewalk cleaning is taking place in certain areas.
On Friday, the California Department of Public Health declared a statewide public health emergency, a move that allows the state to purchase additional vaccine doses directly from manufacturers after the state hit the limits of a special free vaccine program run by the U.S. Centers for Disease Control and Prevention.
While declining to say exactly how many doses the county has on hand, Wooten said she believes that there is enough supply to keep giving shots to those who are at highest risk of infection, including homeless residents, drug users, those with existing liver disease, gay men and those with compromised immune systems.
Anyone outside specified at-risk groups, she added, are now being actively advised to wait due to the constraints on vaccine supply mentioned last week by the state.
“We are asking health providers to not vaccinate those individuals right now that might want to be immune to wait until the beginning of the year when more vaccine is available,” Wooten said.
With large vaccination efforts underway to control outbreaks in several states, it has been unclear how much the nation’s supply of hepatitis A vaccine has been depleted. The CDC, which has indicated that it is in direct communication with the two manufacturers who make the vaccine in the U.S., has provided no solid answers.
“While CDC communicates with vaccine manufacturers to help manage vaccine supply constraints and disruptions, this information is proprietary and used solely for planning and public health response purposes,” Ian Branam, press officer for the CDC’s National Center for Immunization and Respiratory Diseases, said in an email Tuesday.
A shrinking vaccine supply has created a bit of an awkward situation for many in the prevention community. Scott Suckow, executive director of the American Liver Foundation’s Pacific Coast Division, said late last week that the standard message has been for everyone to get a hepatitis A vaccination just in case they are exposed. Recent months, though, have called for a shift in strategy toward those whose liver disease makes them at a higher risk of death than the overall population.
“We don’t want to overburden a public system when the public system is really focusing on those most at risk,” Suckow said.
The county health department has recently doubled down on its efforts to reach those at risk, with than 500 foot team missions in areas where homeless people gather, in addition to focusing on vaccination clinics at shelters and other nonprofits serving them homeless.
Wooten said a growing crew of volunteer nurses from the region’s many health systems in addition to paramedics, who were recently granted temporary vaccination powers by the state, are getting ready to start vaccinating residents in single-room-occupancy hotels and substance abuse treatment facilities.
Wooten said she does not expect these volunteer teams to begin their work until November because four hours of training is required before they can head out to pre-arranged locations.
While nurses and paramedics already know how to give shots, Wooten said they need to know follow specific public health requirements, including keeping the vaccine cold, while vaccinating residents.
Asked how many people the county estimates it must vaccinate to reach a level of community immunity strong enough to end the outbreak, Wooten did not share a specific number. She did say that there are estimated to be about 125,000 intravenous drug and methamphetamine users who are at risk along with somewhere between 9,000 and 25,000 people who are either homeless or who have insecure living conditions.
Getting about 80 percent of the people in high-risk categories immunized, she said, should create the kind of “herd immunity” that can stop an outbreak from spreading.
Hepatitis A is spread when a person swallows even a tiny amount of feces from an infected person. Proper hand washing with warm soapy water for at least 20 seconds after using the bathroom kills the virus.
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Correction: A previous version of this story mistated the incubation period of the hepatitis A virus. |
California law may minimally impact drug pricing transparency | California Gov. Jerry Brown approved legislation that will require pharmaceutical companies to give the state advanced notice of, as well as justify, dramatic drug price increases.
| https://www.healio.com/hematology-oncology/practice-management/news/online/%7B5f7ee73b-1580-4923-95b2-fc312cae196f%7D/california-law-may-minimally-impact-drug-pricing-transparency | 2017-10-18 09:58:47.737000 | Save
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California law may minimally impact drug pricing transparency
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Lisa Kroon
California Gov. Jerry Brown approved legislation that will require pharmaceutical companies to give the state advanced notice of, as well as justify, dramatic drug price increases.
The intent of this bill is to increase transparency of drug price increases to the public, Ben R. Handel, PhD, an assistant professor of economics at the University of California, Berkeley and a faculty research fellow at the National Bureau of Economic Research, told HemOnc Today.
“This is something that most people in the health care sector are in favor of and pharmaceutical companies are heavily against,” he said.
Retail prices for 268 widely used brand name prescription drugs increased by 15.5% from 2014 to 2015, which marked the fourth straight year of double-digit average annual price increases, according to a 10-year price trends report by AARP’s Public Policy Institute.
Additionally, the average retail price for 113 common brand name drugs used to treat chronic conditions increased 188.7% from 2006 to 2015; for comparison, general inflation increased 19.4% during the same period.
“The social and political fabric is being ripped apart,” Gov. Brown said during a press conference announcing the legislation. “The inequities are growing. The rich are getting richer, the powerful are getting more powerful and a growing number of people are getting more desperate, more alienated.”
Shift toward increased regulation
The legislation would require pharmaceutical companies to provide 60 days’ notice to health plans and other purchasers of a planned price hike if the increase exceeds certain thresholds.
“Hopefully health plans, by having forewarning about drug price increases, will be better able to plan for this, and then not push the costs onto consumers; or better yet, be able to push back on the price increases,” Lisa Kroon, PharmD, chair of the department of clinical pharmacy at the University of California, San Francisco, told HemOnc Today.
“I think the timing of the notices to health plans about intended drug price increases will be important, as consumers make decisions about their choice of a health plan in the fall every year. Health plans will need information about drug cost increases in their planning for open enrollment season, so consumers have this information when making choices.”
Although there are some positive aspects about the bill, Handel does not envision it having a significant impact.
The bill places some constraints on drug manufacturers by setting a threshold — 16% over 2 years — before being required to give notice and justification, but Handel said manufacturers will likely make it a priority to come in under that threshold.
“I’m not sure if drug companies will actually care about this,” he said. “They don't like the law because it’s moving toward a more regulated environment, but drug companies could also say, ‘well we’re going to raise our prices by 40% and we’re going to justify it in some way and that’s it,’ because there’s nothing in the law actually restricting their prices. It just requires them to justify them.”
‘All eyes on California’
California could impose hassle costs on manufacturers if the state believes the justification is invalid.
“But at the end of the day, I think they’d be able to raise the price if they wanted to,” Handel said.
Both Kroon and Handel said that there is a strong possibility that California will serve as a leader and that this legislation will help propagate similar legislation and create a ripple effect across the rest of the country.
“All eyes are on California now with this law,” Kroon said. “There is a reason the drug companies lobbied so hard to not have this pass.”
However, Handel said drug manufacturers could take drastic steps if more states try to enact similar legislation.
“Say that this was a nationwide rule, then from an economics standpoint, a drug manufacturer would probably consider charging a high initial price,” he said.
For instance, a drug manufacturer could consider charging an initial price of $1,500 for a drug instead of $1,000, because the company would not have to worry about meeting certain requirements laid out in legislation.
“Drug companies are learning what the optimal price of a drug is when they go to offer a drug for the first time,” he said. “If they’re learning in an environment [that has this legislation], then they might want to shade the initial price higher, and I think that’s something people are generally missing.” – by Ryan McDonald
References:
http://www.aarp.org/content/dam/aarp/ppi/2016-12/trends-in-retail-prices-dec-2016.pdf
https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201720180SB17
https://www.gov.ca.gov/news.php?id=19995
https://www.youtube.com/watch?v=wF38WmiVIW4
Disclosures: Handel and Kroon report no relevant financial disclosures. |
Congress isn’t acting to curb drug prices, so states are stepping up. Here’s how | President Trump has complained that drug makers are getting away with murder — and he may be right. Despite vociferous complaints from consumers that drug prices are too high, Congress has failed to act.
| https://www.statnews.com/pharmalot/2017/10/18/states-drug-pricing-transparency/ | 2017-10-18 09:57:53.167000 | Congress isn’t acting to curb drug prices, so states are stepping up. Here’s how
President Trump has complained that drug makers are getting away with murder — and he may be right.
Despite vociferous complaints from consumers that drug prices are too high, Congress has failed to act. And with few exceptions, the pharmaceutical industry has successfully delayed or thwarted state bills that would force drug makers to explain or justify price hikes.
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But that may be starting to change. Last week, to the fury of the pharma industry, California enacted a law demanding transparency on rising medicine costs. Vermont already has a similar policy in place. Nevada recently began requiring drug makers to disclose pricing data about diabetes medicines. And Maryland has a new law that penalizes generic companies for price gouging. |
Questions Loom About Obamacare As Covered California’s Open Enrollment Nears | With open enrollment a little more than two weeks away, President Donald Trump took a one-two punch at the Affordable Care Act. Last week, Trump said he would stop paying key subsidies, known as cost-sharing reductions, which compensate insurers for providing discounts on deductibles and copays.
| https://californiahealthline.org/news/questions-loom-about-obamacare-as-covered-californias-open-enrollment-nears/ | 2017-10-18 09:56:31.610000 | About Capitol Desk Capitol Desk delivers the latest in health care policy and politics from Sacramento and around the state. Have an idea? Let us know.
Hear Chad Terhune on KPFA’s Letters And Politics starting at the 40-minute mark: https://californiahealthline.org/wp-content/uploads/sites/3/2017/10/20171017-tue1000.mp3 Can’t see the audio player? Click here to download.
Listen to Chad Terhune’s appearance on KPCC’s AirTalk: https://californiahealthline.org/wp-content/uploads/sites/3/2017/10/what_trump_s_new_executive_order_means_for_the_aca_and_covered_ca-3ab8b3ad.mp3 Can’t see the audio player? Click here to download.
With open enrollment a little more than two weeks away, President Donald Trump took a one-two punch at the Affordable Care Act.
Last week, Trump said he would stop paying key subsidies, known as cost-sharing reductions, which compensate insurers for providing discounts on deductibles and copays. He also signed an executive order aimed at loosening the rules for association health plans — organized by certain types of professional, trade or interest groups — and short-term medical insurance. Trump argues these changes would give consumers cheaper coverage options, but experts warn that people may lose critical protections and face higher premiums when they’re sick.
Californians are somewhat insulated from harm, in part because health insurers here have already raised 2018 premiums for certain plans to offset the loss of the cost-sharing subsidies. In addition, California’s attorney general, Xavier Becerra, joined with other states to file a lawsuit last week challenging Trump’s decision to end the payments.
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On Tuesday, Sens. Patty Murray and Lamar Alexander announded a bipartisan agreement to restore the cost-sharing subsidies and stabilize the ACA marketplaces. Trump appeared to support the effort as a “short-term” solution.
Still, time is running short for 2018 open enrollment, which kicks off Nov. 1.
Before the announcement of the Murray-Alexander agreement Tuesday, Chad Terhune, a senior correspondent at California Healthline and Kaiser Health News, appeared on KPFA’s “Letters And Politics” show, speaking with guest host Max Pringle about the health care debates in Washington, D.C., and California. In addition to the ACA, they discussed the nation’s opioid crisis, prescription drug prices and growing support in California for a single-payer health system.
Terhune also appeared last Thursday on KPCC’s “AirTalk” show, discussing with guest host Libby Denkmann what’s next for the ACA under Trump. |
A spate of deadly disasters for the elderly | Recent wildfires in California and hurricanes in Florida, Texas and Puerto Rico have put a spotlight on vulnerable seniors -- including a number of deaths that authorities have said were preventable.
| http://edition.cnn.com/2017/10/17/health/disasters-elderly-fires-hurricanes/index.html | 2017-10-18 09:56:01.240000 | Story highlights Seniors tend to die at disproportionate rates after major disasters Many seniors with chronic illnesses can quickly deteriorate in a disaster setting
CNN —
Recent wildfires in California and hurricanes in Florida, Texas and Puerto Rico have put a spotlight on vulnerable seniors – including a number of deaths that authorities have said were preventable.
“The bulk of them are in their 70s and 80s, so there is that commonality,” Sonoma County Sheriff Rob Giordano said of the first wildfire victims to be identified during a press conference Thursday.
The majority were found in their homes, reduced to “ashes and bones,” Giordano said. Several were identified using medical implants, such as a hip replacement, with unique serial numbers.
On Sunday, the Sonoma County Sheriff’s Office identified four more victims of the fires, all over the age of 70.
An empty wheelchair sits among the charred remains of a housing development in Santa Rosa, California. Elijah Nouvelage/Getty Images
Over a dozen residents of a Florida nursing home died in the month after Hurricane Irma knocked out the facility’s air conditioning.
Just weeks later, after Hurricane Maria hit Puerto Rico in September, some were trapped in homes and shelters, unable to get the crucial medical care they needed.
The elderly have died disproportionately in disasters around the world, including a 2004 tsunami in Indonesia, a 2003 heat wave across Europe and a 1995 earthquake in Japan, according to a United Nations report.
Experts continue to grapple with how best to protect the elderly, who face difficulties evacuating from disasters, more health issues on average and perhaps even a greater share of the psychological impact.
“You can’t always predict an emergency event,” making preparedness key for seniors, said Ashley Chambers, communications director for the Florida Department of Elder Affairs.
To evacuate or not
Many adults can’t easily evacuate – some because they don’t drive, others because they are physically unable, according to research.
And some people refuse to evacuate in the first place.
“Some seniors don’t want to leave a home that they’ve been in all their lives, because the future may be uncertain,” said Vicki Eichstaedt, a spokesperson for the American Red Cross.
Others feel they might be better off remaining in a facility that has the means to take care of them.
“This is a very nice, sturdy concrete building,” Herbert Dreisbach, a 94-year-old resident of a nursing home in Jacksonville, Florida, told CNN before Hurricane Irma. “It’s still better than being at a facility that would not be properly prepared to take care of us.”
“Not all residents … should be evacuated,” Lisa Brown, a psychology professor and director of the Trauma Program at Palo Alto University, previously told CNN.
Brown, who is also Dreisbach’s daughter, showed in past research that nursing home residents with dementia had an increased risk of death in the months following a 2008 hurricane if they had evacuated.
“Those who can safely shelter in place may fare much better than those who are physically evacuated,” Brown said. “There’s not a one-size-fits-all, is the main point.”
Eichstaedt, who called from the Sonoma County Fairgrounds where there is a makeshift shelter, said that many seniors refuse to evacuate because they have pets, which may be their only companions.
“It may be the only connection they have to their old life,” Eichstaedt said.
The fairgrounds were equipped with a pet-friendly shelter, with veterinarians to take care of sick and aging pets, too. “That’s been a blessing for many seniors,” she said.
A matter of health
In emergency situations, once-manageable health conditions, like diabetes or an infection, can quickly spiral out of control.
CNN previously told the story of Josefina Alvarez, 62, who escaped to a shelter outside of San Juan before Hurricane Maria. She remained stuck there for nearly two weeks before doctors were finally able to treat an abscess that could have turned into a life-threatening infection.
“Nobody is taking care of us,” Alvarez said at the time.
About three out of every four Americans 65 and older have multiple chronic health conditions, such as high blood pressure and obesity, according to the US Centers for Disease Control and Prevention.
Rafael Robles-Ortiz kisses his mother Josefina Ortiz, staying at an elderly care facility in San Juan, Puerto Rico. Mr. Robles-Ortiz was concerned for his mother, hoping aid and supplies would get through to the facility after Hurricane Maria. Joe Raedle/Getty Images
After Hurricane Katrina in 2005, nearly half of those who died were 75 or older – despite making up less than 6% of the state’s population, according to one study. While most of these deaths were drownings or injuries, 11% were caused by heart conditions.
Before Hurricane Irma, nursing homes in Florida stocked up on supplies, and pharmacies issued early refills of medications for people in evacuation zones.
The Florida Health Care Association, which represents 81% of the state’s nursing centers, instructed each facility to prepare seven to 10 days of medication, oxygen and other medical necessities for each resident, according to spokesperson Kristen Knapp. The association does not represent the Hollywood facility where multiple residents died last month.
Even without a health issue, age can take its toll on the body.
An average healthy person can survive 100 hours without water if they’re not becoming dehydrated because of injury or temperatures, according to Dr. Paul Auerbach, a professor of emergency medicine at Stanford University who worked with rescue teams after earthquakes in Nepal and Haiti. They can even survive two or three weeks without food.
But for the elderly and infants, that time period can be much shorter, he previously told CNN.
Older adults are also more sensitive to extreme temperatures, making them more susceptible to heat stress and hypothermia, according to the CDC.
The exact causes of death of the Florida nursing home residents have not been announced, but a number of the 141 residents who were evacuated were treated for heat-related issues.
In Sonoma, Eichstaedt said that seniors with difficulties breathing or respiratory problems have been affected by “smoke and ash in the air.” Even younger and healthier people are wearing masks to avoid the worst air pollution on record for Northern California.
“It’s a big concern,” said Eichstaedt.
In the aftermath
For many people, a disaster often continues long after the fires have been put out or the flooding has receded.
The shelter in Sonoma is only a temporary fix, Eichstaedt said. Many displaced seniors will need assistance getting back home – if they still have a home to go back to.
Seniors may also be more susceptible to scams that happen after a disaster, said Chambers, including unlicensed contractors or people posing as assistance organizations.
“Our senior population is very trusting, and we want to make sure they know what to watch out for,” she said.
Even years after a disaster, some research has suggested that senior survivors are more likely to develop PTSD and other mental health problems – shown in a study of survivors of a 2008 earthquake in China.
“One of the things that we notice is the emotional frailty of many seniors,” Eichstaedt said, “particularly when they face the unknown.”
The prevalence of PTSD in Alabama, Louisiana and Mississippi rose from 15% a few months after Katrina to 21% a year later, found a 2008 study. In that study, however, the highest increases were seen among those aged 40 to 59.
In addition, older adults face a number of stresses that healthy, able-bodied people might not, such as fear of losing their independence or financial stability, according to FEMA.
For seniors who are also low-income, it’s an “extra level of concern,” said Lisa Marsh Ryerson, president of American Association of Retired Persons Foundation.
Many seniors also deal with social isolation, which has long been flagged as a risk factor for mortality.
Marsh Ryerson, whose foundation launched an initiative last year to combat loneliness and isolation among seniors, said that people don’t always think to reach out to elders in their communities while they’re rushing to prepare for an upcoming disaster.
“Check on your neighbors,” she said. “In times of disasters, or often in everyday living, older adults who are vulnerable can often be invisible, and they may not always ask for the help that they need.”
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Vendetta Craig, whose 87-year-old mother was among the survivors of the Florida nursing home, had some choice words about how the deaths at Hollywood Hills reflected society’s treatment of seniors.
“We throw away our elderly,” she said at a press conference in September. “That’s my mother.” |
Most ACOs in Next Generation, Pioneer models saved money, earned payments for 2016 | The Next Generation and Pioneer ACO models earned payments for 11 out of 18 health systems participating in Next Generation in 2016 and for six out of eight in Pioneer.
| http://www.healthcarefinancenews.com/news/most-acos-next-generation-pioneer-models-saved-money-earned-payments-2016 | 2017-10-18 09:54:35.733000 | The Next Generation and Pioneer ACO models earned payments for 11 out of 18 health systems participating in Next Generation in 2016 and for six out of eight in Pioneer.
Seven Next Generation ACOs lost money, according to the Centers for Medicare and Medicaid Services. Three had dropped out in 2016 due to financial targets they said were set too high to earn savings.
[Also: ACOs score high on MIPS, but low on payment adjustment]
But three-quarters of Next Generation ACOs in 2016 reaped financial rewards from the risk program, from a low of $272,140 for Steward Integrated Care Network in Massachusetts, to a high of $12 million for Baroma Accountable Care in California.
The results are important because they show that for most, shared risk works, as CMS is currently asking health systems for feedback on existing payment models.
ACOs interviewed in September said they support changes out of CMS's innovation center that would allow for greater flexibility in future models. This was true whether the system made or lost money in current models.
Montefiore has seen success in both Pioneer and Next Gen. The health system's five-year experience has been positive, said Kirstin Mooney, assistant vice president of regulatory and legislative poiicy for Montefiore.
Despite instability in the Affordable Care Act and the move to make bundled payment models voluntary, rather than mandatory, providers interviewed have said they expect the push to value-based care will remain the same. ACOs move health systems in this direction.
But there were also big losers under Next Generation. The largest losses were reported by LifePrint ACO in Delaware, a subsidiary of UnitedHealth Group, which owed $6.1 million, OSF HealthCare in Illinois, which lost $5 million and MemorialCare Regional in California, which also lost $5 million.
[Also: ACOs increasing their participation in downside risk contracts, study says]
OSF began with Pioneer in 2011 earning high quality scores in 2014 before transitioning to Next Generation.
High earners included Iowa Health Accountable Care, at $10.5 million, Triad HealthCare Network in North Carolina at $10.7 million, Trinity Health in Michigan, at $6.5 million and Deaconess Care Integration in Indiana, which earned $5.7 million.
[Also: Medicare Shared Savings ACOs saved $1 billion over 3 years, report says]
In 2017, Next Generation gained an estimated 28 new ACOs, for an estimated 44 health systems taking part.
Next Generation builds on the Medicare Pioneer ACO model, which was in its final year of the program in 2016.
Eight health systems took part in Pioneer in 2016, with six reporting financial savings.
The Banner Health Network in Arizona realized the highest rewards at $10.9 million. Its benchmark of $504 million for 42,040 beneficiaries was met with an actual expenditure of $489 million.
None of the Pioneer ACOs owed money, but the results were financially neutral for Monarch HealthCare in California and Partners HealthCare in Massachusetts. Though both successfully reported quality and their quality scores were 90.25 percent and 94.51 percent, respectively, which were higher than some of the other health systems that earned money.
The Michigan Pioneer ACO had a lower quality score of 88.93 percent and still earned $7.4 million. Michigan performed better than its benchmark expenditure of $232 million for its 14,319 beneficiaries. It's actual expenditures were $220 million.
Monarch's actual expenditures were $264 million compared to its $266 million benchmark, for a savings of $1.5 million, not enough to earn savings.
Partners actual expenditures were also lower than its benchmark - $1.054 billion compared to $1.059 billion, for a savings of $5 million, which was not enough for a payment.
But Allina Health in Minnesota also saved $5 million and earned $3 million in shared savings, from a $268 million benchmark versus $263 million actual.
Atrius Health in Massachusetts earned $6.8 million, Fairview Health Services in Minnesota, $1 million and Montefiore ACO in New York, $7.4 million.
Telehealth benefits allowed in the Next Generation ACOs helped to save them a collective $58 million last year, according to Politico's figures from the CMS Innovation Center.
When including 2016 results from the Pioneer ACO and dialysis models, participants saved Medicare $200 million, with three-quarters of them hitting savings targets, Politico said.
Results for Medicare Shared Savings ACOs, which account for the vast majority of ACOs, will be posted at the end of October, CMS said.
Individual Medicare ACO Aledade and Caravan Health, have already released their results.
In 2016, Aledade in Maryland, saved $9.3 million, with five of its seven ACOs coming in under benchmark and one at benchmark.
Caravan in Missouri achieved $26 million in savings for its 23 ACOs in 2016. ACO participation can increase MACRA performance scores by 20 percent, Caravan said.
Twitter: @SusanJMorse
Email the writer: [email protected] |
Uber's head of policy for Europe quits to join Chargepoint | Ride-hailing platform Uber has been hit by the loss of another senior executive as it faces growing challenges to its business. Christopher Burghardt, the company's head of policy for Europe, the Middle East and Africa, has left to head up electric vehicle power company Chargepoint. His departure comes shortly after that of Jo Bertram, who had been regional manager for northern Europe. Uber's new CEO Dara Khosrowshahi recently met transport regulators in London after they denied a renewal of the company's licence to operate in the UK capital.
| https://www.independent.co.uk/news/business/news/uber-european-policy-chief-quits-christopher-burghadt-emea-ride-hailing-taxi-app-a8005256.html | 2017-10-18 09:49:54.710000 | For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy notice Thanks for signing up to the
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Uber’s head of policy for Europe, Middle East and Africa has quit the company to join electric vehicle charging network firm Chargepoint.
Christopher Burghardt is the latest senior figure to walk out of Uber after Jo Bertram, former regional manager for Northern Europe, left on 2 October.
Mr Burghardt leaves after just one year at the ride-hailing firm and will become managing director for Chargepoint in Europe.
Recommended TfL is forcing Uber to grow up
He said the decision to leave Uber was “a tough choice”, but one he "couldn't turn down".
"Europe is at the point of getting to mass adoption of electric vehicles and Chargepoint is at the forefront of that", he added.
"I remain a great believer in what Uber does and I know our new chief executive has a vision that will take the company into a bright future.”
The ride-hailing firm faces a number of challenges internationally from regulators and lawsuits.
Uber chief executive Dara Khosrowshahi flew into London in October to meet Transport for London chiefs after the regulator refused to renew Uber’s licence in September.
The new chief executive is also dealing with accusations of a company culture rife with sexism under the leadership of his predecessor, Travis Kalanick.
Meanwhile, the company faces a dozen lawsuits and at least five criminal investigations in the US, two more than previously reported, according to Bloomberg. |
Making Time to Really Listen to Your Patients | Modern medicine’s true healing potential depends on a resource that is being systematically depleted: the time and capacity to truly listen to patients, hear their stories, and learn not only what’s the matter with them but also what matters to them. Some health professionals claim that workload and other factors have compressed medical encounters to a point that genuine conversation with patients is no longer possible or practical. We disagree.
| https://hbr.org/2017/10/making-time-to-really-listen-to-your-patients | 2017-10-18 09:46:21.380000 | Hurried health care incurs hidden costs and offers false economy: Not taking the time to listen to and understand the patient harms both the patient and the clinician, who won’t have the benefit of pooled knowledge, ability to make fully informed mutual decisions, or time to build trust. The authors offer six steps health care organizations might take to reshape their cultures and learn not only what’s wrong with their patients, but what matters to them.
Modern medicine’s true healing potential depends on a resource that is being systematically depleted: the time and capacity to truly listen to patients, hear their stories, and learn not only what’s the matter with them but also what matters to them. Some health professionals claim that workload and other factors have compressed medical encounters to a point that genuine conversation with patients is no longer possible or practical. We disagree.
Our experiences — as a critical-care physician whose own critical illness led her to train physicians in relationship-centered communication (Rana Awdish) and as a health services researcher who has interviewed and observed hundreds of patients, doctors, and nurses (Len Berry) — teach us that hurried care incurs hidden costs and offers false economy. In other words, it might save money in the short term but wastes money over time.
Why Listening Matters
Actively listening to patients conveys respect for their self-knowledge and builds trust. It allows physicians to assume the role of the trusted intermediary who not only provides relevant medical knowledge but also translates it into options in line with patients’ own stated values and priorities. It is only through shared knowledge, transmitted in both directions, that physicians and patients can co-create an authentic, viable care plan.
A doctor’s medical toolbox and supply of best-practice guidelines, ample as they are, do not address a patient’s fears, grief over a diagnosis, practical issues of access to care, or reliability of their social support system. Overlooking these realities is perilous, both for the patient’s well-being and for efficient delivery of care. We believe not only that a clinician should share medical decision making with the patient but also that it must occur in the context of an authentic relationship.
The Costs of Hurried Encounters
Compressed medicine has real risks. Clinicians become more likely to provide ineffective or undesired treatment and miss pertinent information that would have altered the treatment plan and are often blind to patients’ lack of understanding. All of this serves to diminish the joy of serving patients, thereby contributing to high rates of physician burnout. These consequences have clear human and financial costs.
The medical literature increasingly offers potential solutions to the inefficiencies that rob patients of physicians’ time and attention, including delegating lower-expertise tasks to non-physician team members, improving the design of the electronic health system, and greatly reducing the paperwork bureaucracy that adds little or no value. We can create more space for active listening. Unhurried medical care may be elusive, but it is practical.
Reimagining Roles
Beyond time pressures, the typically unquestioned roles that physicians and patients assume also inhibit relationship-building. In their medical training, physicians often are taught to maintain a clinical distance and an even temperament. They are warned not to get too close to patients, lest they internalize the suffering and shoulder it themselves. The best physicians, we know, reject this advice because it diminishes their humanity and disadvantages their patients, who need more than a highly-qualified body technician, especially when they’re seriously ill.
Insight Center Transforming Health Care Sponsored by Medtronic How leading providers are delivering value for patients.
Patients learn roles, too: adhere to the doctor’s plan, squelch errant thoughts that might sound foolish, don’t ask too many questions, defer to the expert, be “a good patient.” In a new article we co-authored with others, we show that many patients, especially those with serious disease, behave like hostages in the presence of physicians — unwilling to challenge authority, understating their concerns, requesting less than they desire. Most physicians certainly don’t want patients to feel like hostages, but the patients often do. When patients feel like hostages, the ideal of shared decision making is a pipe dream.
It’s no wonder, then, that for patients with serious illness, the emotion they most often cite is “overwhelmed.” The diagnosis, the options, the treatment, the myriad side effects, the change in identity when living with disease — all of it can indeed be overwhelming. In this complex, fraught situation, people need a compassionate guide — a wise, comforting sherpa who knows the mountain, the risks of various routes, the viable contingency plans. The physician-sherpa should be a partner on the journey, not simply a medical operative, extracting formulaic rules and implements from a toolbox. Patients need and deserve much more.
When doctor and patient join forces, the team dynamic dismantles the harmful hierarchy. Both members of the dyad can rely on each other because neither owns all the data that matter. Speaking at a White Coat ceremony for medical students, Dr. Rita Charon, a pioneer in the rising discipline of narrative medicine, stated:
I used to ask new patients a million questions about their health, their symptoms, their diet and exercise, their previous illnesses or surgeries. I don’t do that anymore. I find it more useful to offer my presence to patients and invite them to tell me what they think I should know about their situation.…I sit there in front of the patient, sitting on my hands so as not to write during the patient’s account, the better to grant attention to the story, probably with my mouth open in amazement at the unerring privilege of hearing another put into words — seamlessly, freely, in whatever form is chosen — what I need to know about him or her.
An Organization that Listens and Heals
Not hearing the patient’s voice harms the patient and the clinician. They don’t have the benefit of pooled knowledge, ability to make fully informed mutual decisions, or time to build trust. Health systems that want to avoid those pitfalls need leaders who invest in shaping an organizational culture that values hearing patients’ voices. Here are some steps such organizations might take:
Share patient stories and related lessons at every meeting. Perhaps one should be a story of success (what we did well for a patient) and another of a failure (where we must improve).
Offer a communications curriculum to clinical and non-clinical staff. The professional development should be engaging and dynamic so that adult learners seek it out because they view it as worthwhile.
Encourage and reward clinical curiosity, whereby generous questions are asked to elicit generous patient responses. Emphasize listening for not just what is said, but also how it is communicated. Consider a narrative-medicine component.
Convene patient advisory boards that meet regularly with practice leaders to convey concerns and make suggestions about improving patients’ experiences.
Use multiple methods to identify and systematically address impediments in clinicians’ daily work — the “pebbles in the shoes.” Examples include rounds, conducted by senior leaders, with both staff and patients; staff focus groups and anonymous surveys; and CEO feedback meetings with small groups who speak openly about what prevents them from delivering better care.
Create a balanced scorecard of physician performance that tracks not only productivity but also professional development, team building, safety and quality metrics, timeliness of care or access, communication skills, and care coordination — measures that matter to patients.
A Way Forward
Medicine is constantly evolving as new ways to treat, heal, and even cure emerge. We must continually reflect on the changes, and correct the course as needed. This work cannot happen in a vacuum of forced efficiency. Physicians, patients, and administrators all must maintain and build on what is sacred and soulful in clinical practice. We must listen generously so that we nurture authentic, bidirectional relationships that give clinicians and patients a sense of mutual purpose that no best-practice guideline or algorithm could ever hope to achieve. |
MIT: Innovative Designs Will Soon Transform Aging in Place | The rising number of aging Americans is likely to drive transformation in how seniors age in place, from technology advances to real estate designs, according to a recent report from the Massachusetts Institute of Technology (MIT) Center for Real Estate.
| https://homehealthcarenews.com/2017/10/mit-innovative-designs-will-soon-transform-aging-in-place/H | 2017-10-18 09:42:57.757000 | In a bizarre and developing story, as many as 80,000 patients in Canada may have had detailed medical, financial and personal records stolen by a hacker group after it infiltrated the computer systems of home care services provider CarePartners.
Ontario-based CarePartners, which has provided government-sponsored personal, rehabilitation and nursing care services to hundreds of thousands of patients over the years, announced the breach in June. At the time, the home care provider and cyberattack victim claimed “sophisticated actors” had “inappropriately” gained access to and held information pertaining to the personal health and finances of its patients and employees.
To determine the full extent of the breach, CarePartners announced it had retained the services of cybersecurity firm Herjavec Group.
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Now, about a month after the initial cyberattack, CBC News is uncovering additional details—with the help of the hackers.
According to a CBC News report, a group claiming responsibility for the breach reached out to the news outlet and provided a sample of the data it had allegedly accessed.
The sampled data reportedly included thousands of patient medical records with phone numbers, addresses, dates of birth and health care numbers. The data included extensive medical histories, CBC News reported, complete with information on conditions, diagnoses, surgical procedures, care plans and medications prescribed.
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The sampled data also reportedly shows that more than 140 active patient credit card numbers, expiration dates and security codes had been stolen.
Overall, the data appears to contain names and contact information for more than 80,000 patients in total, according to CBC News, though the hacker group says the breach was actually far larger in scope.
“This data breach affects hundreds of thousands of Canadians and was completely avoidable,” the group told CBC News. “None of the data we have was encrypted.”
The news outlet contacted 10 patients whose records were included in the provided sample and confirmed that they had been patients of CarePartners. All 10 patients said they had not been directly notified by the home care provider and were unaware there had even been a breach.
“We are concerned that the cyber-attackers may be using the CBC to further their own extortion agenda,” CarePartners said in a statement published by CBC News in its report. “It is a common strategy of cyber-attackers to contact media in an effort to embarrass and shame their victims.”
Besides stealing patient data, the hacker group says it is holding the stolen information for ransom.
“We requested compensation in exchange for telling them how to fix their security issues and for us to not leak data online,” it said.
The cyberattack is being investigated by the Office of the Information and Privacy Commissioner of Ontario.
The CarePartners hack is not the first time in-home care providers have had their networks compromised.
In 2015, Amedisys, Inc. (Nasdaq: AMED) notified state and federal agencies—as well as 6,909 individuals—that personal information was possibly subject to a data breach. The incident was linked to missing encrypted computers and laptops belonging to former employees.
Cybersecurity attacks and health plans
U.S. health plans have reported 24 breaches so far in 2018, compared to 15 during the same period in 2017, representing a 60% increase in the number of entities impacted, according to Fortified Health Security’s 2018 Mid-Year Report.
The total number of patients impacted by those breaches increased by more than 1,000%. Of the health plans impacted by a breach thus far in 2018, 38% were either state or city-affiliated health plans.
The 24 identified breaches have affected more than 884,000 individuals.
Fortified Health is a Tennessee-based cybersecurity firm.
Written by Robert Holly |
TalkTalk TalkTalk customers left without internet pursued over cancelled contracts | Debt collectors were set on a couple who cancelled their contract with TalkTalk after the firm failed to provide them with a connection to the internet. Despite numerous appeals to the company, Jennifer and Bernard Algar still had no internet connection a month after signing up with TalkTalk and switched to Sky. TalkTalk then claimed the Algars owed the company £353 and passed the sum to debt collectors when the couple refused to pay. Jennifer Algar, a retired teaching assistant, described TalkTalk's behaviour as disgusting.
| http://www.dailymail.co.uk/money/guides/article-4990306/Here-s-fight-plague-debt-collectors.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490 | 2017-10-18 09:42:52.157000 | When Stuart and Carol Corkett received a £525 bill from British Gas they immediately knew something was wrong.
The reading for their gas meter was wildly off, and it didn't take long to work out what had happened: British Gas had used the meter for their neighbour's house, which is 6ft away.
Yet what seemed like a simple misunderstanding turned into a nine-month ordeal, with the retired couple forced to fend off debt collectors.
Initially the Corketts, from Taunton in Somerset, received a stream of letters from British Gas demanding urgent payment. They wrote to the energy company twice and made numerous phone calls to explain about the meter confusion.
Unwelcome: Figures show that gripes about debt collection practices at big firms and government bodies have more than doubled over the past year, rising from 830 to 2,006
But the demands continued, and soon they started to get letters and phone calls from Moorcroft Debt Recovery, a debt collection agency.
Each time Stuart, 65, rang British Gas to call off the agents, he got a different customer services representative and had to explain the whole saga again.
Nothing seemed to work and the stress got so much that he had to see his doctor.
'I kept appealing to British Gas, but they weren't listening,' Stuart says. 'It felt like I was at a dead end and the next thing I knew they'd put debt collectors on to us.
'I don't understand how companies can be allowed to do this, as a lot of elderly people would be so intimidated they would probably pay up.'
The Corketts' ordeal at the hands of one of Britain's biggest companies is far from an isolated incident. Money Mail readers report similar bullying tactics from a range of energy and telecoms firms, as well as government bodies such as councils, HM Revenue & Customs and BBC licence fee collectors.
Customers are routinely chased for debts they do not owe, often due to a billing blunder or a case of mistaken identity.
Innocent: Retired couple Stuart and Carol Corkett had to fight off debt collectors after a meter reader read the meter for their neighbour's house by mistake
Then, with no warning, they start getting terrifying letters and calls from debt collectors who threaten court action.
It can prove almost impossible to get the debt collectors called off. Victims say they have suffered sleepless nights and been afraid to open their doors in case bailiffs turn up.
Figures from complaints service Resolver show that gripes about debt collection practices at big firms and government bodies have more than doubled over the past year, rising from 830 to 2,006.
Complaints about the tactics used by debt collection agencies and bailiffs themselves soared 77 per cent from 864 to 1,529.
'I WAS TREATED LIKE A CRIMINAL'
Linda and Brian Dowse have faced a battle with Ovo Energy since June, when they downsized to a one-bed flat in sheltered housing.
Linda, 75, a retired carer, and Brian, 73, a former painter and decorator, asked Ovo to take final meter readings and transfer their account to their new home.
Two weeks after the move, a letter from Ovo arrived saying the couple were £18.97 in credit.
Just a fortnight later, they received a letter from a debt collection agency, LCS, demanding £233.61.
Linda called Ovo and was told to ignore the letter as it was an error. But two further demands from LCS arrived in August.
'I was appalled — my rule is I never lend money and I never borrow it,' Linda says. 'I've never even owned a credit card. It's been murder trying to clear this up.'
One firm that is mentioned regularly in Money Mail's inbox is Extra Energy.
We exposed the company earlier this year for using debt collectors to chase customers for money they didn't owe. It is under investigation by the energy regulator Ofgem. A spokesman for Extra Energy says it has apologised to 'the small number' of customers affected and also compensated them.
Narendra and Sarla Shah, 77 and 57, from Crawley, were chased by First Utility's debt collectors for £170 in September — nearly a year and a half after they had closed their account.
The couple thought they had paid all outstanding charges and say they were given no warning before the debt was passed to MIL Collections. Narendra, a retired electrical engineer, says: 'It was very intimidating. I felt like I was being treated like a criminal.'
First Utility says it emailed the Shahs about the debt in June 2016, but has apologised for not contacting them again before passing it to MIL. It has waived part of the bill as a goodwill gesture.
British Gas apologised to the Corketts and says it has called off the debt collectors and sent a goodwill payment of £250.
A spokeswoman says: 'Mr Corkett alerted us to a meter number mix-up on his account after we sent him his final bill. We reviewed this and then sent him a corrected bill confirming that he had nothing to pay.'
Ovo says it is sorry the Dowses were incorrectly billed and has cleared the debt.
HARASSED OVER PHONE SWITCH
Energy suppliers aren't the only firms to have been guilty of harassing customers. Jennifer and Bernard Algar, 69 and 72, from March in Cambridgeshire, were left without an internet connection for a month after they switched to TalkTalk. The couple say they asked TalkTalk time and again to fix the line.
After endless excuses and delays, they told the firm they'd had enough and were switching to Sky. But that just prompted TalkTalk to send letters and emails demanding £353 for cancelling the contract early. The Algars refused to pay.
Jennifer and Bernard Algar, 69 and 72, from March in Cambridgeshire, were left without an internet connection for a month after they switched to TalkTalk
Then, out of the blue, their case was passed to Debt & Revenue Services — a debt collector — which sent more demands. Jennifer, a retired teaching assistant, says: 'It's disgusting, threatening behaviour to blame us after all TalkTalk's own failings.
'When we get a bill we always pay it the next day, but why should we pay for a service we haven't received? Now we are being treated like delinquents.'
Terry and Barbara Bowen, 74 and 71, from Cardiff, were chased for £243 when they moved house and were told they couldn't take their Virgin Media internet, TV and phone line with them.
They moved to nearby Porth in March to be closer to family after the death of their son Darran last year from multiple sclerosis. Virgin said it couldn't supply their new address, so they had to break their contract early. They were threatened with debt collectors if they didn't pay.
Terry, a retired Royal Mint supervisor, felt he had no option but to relent. 'I told Virgin about the reasons we were having to move and they said they were sorry but it was all in the contract.'
Ofcom is investigating the exit penalties Virgin imposes when it can't supply a customer's new address.
Virgin says it will give the Bowens a refund as it can review charges in 'unforeseeable and unfortunate circumstances'. A Virgin Media spokeswoman says: 'We urge all of our customers to consider the length of contracts before entering into them. We advise our customers that the details of early disconnection fees are on our website.'
TalkTalk apologises for the Algars' experience and has cleared the debt.
BITTEN OVER £204 DENTIST BILL
Another reader, a 69-year-old former pharmacy dispenser from Cambridgeshire, was chased for debts by the NHS.
The pensioner received a 'letter before action' demanding payment of £204 from NHS Dental Services after mistakenly believing she was still entitled to free check-ups.
The bill included a late payment charge of £146, and she was threatened with debt collectors if she didn't pay.
One reader received a 'letter before action' from NHS Dental Services after mistakenly believing she was still entitled to free check-ups
The pensioner says the receptionist had handed her a pre-filled form to sign, saying she qualified for free treatment. She didn't realise she didn't because her husband had gone back to work and their joint income had increased.
'It was an honest mistake and I would have been happy to settle the original £58 charge for the appointment, but I wasn't given the chance,' she says. The NHS says she can appeal using its website.
The Mail has also revealed that customers are being hauled to court over unpaid BBC licence fees — only to have their cases thrown out because they were vulnerable or unwell. HM Revenue & Customs (HMRC) has also been caught setting debt collectors on unsuspecting taxpayers.
James Walker, founder of Resolver, says: 'Collection agencies work by piling on the pressure to intimidate you into coughing up the cash. Many people are afraid to make complaints in case it makes things worse, but they should fight back.'
HOW YOU CAN FIGHT BACK
If you're chased for money you don't owe, the last thing you should do is ignore it.
The sooner you act the better. Contact the company immediately and let it know why you are disputing the bill.
Keep copies of letters and emails you send, and keep a log of phone calls you make, including who you spoke to and what was discussed.
Provide evidence to support your case — such as meter readings or details of your attempts to resolve the matter.
If the company doesn't put the situation right within eight weeks, ask for a 'deadlock letter'. Then you can take your complaint to the relevant ombudsman.
For energy firms, this is the Energy Ombudsman (ombudsman-services.org; 0330 440 1624).
For telecoms companies, use either Ombudsman Services: Communications (ombudsman-services.org; 0330 440 1614) or the Communications and Internet Services Adjudication Scheme (cedr.com/cisas; 020 7520 3827). Your supplier must tell you which to use.
If your complaint is about a credit card firm or another lender, go to the Financial Ombudsman Service (financial-ombudsman.org.uk; 0300 123 9 123).
If a bill is passed to a debt collector, contact the agency to say you are challenging the demand.
Under an industry code of conduct, debt collectors must halt any action against you until they have gone back to the company concerned and investigated.
The Credit Services Association, which administers the code, requires members to offer 30 days 'breathing space' if customers say they are seeking debt advice. It also says that agencies must only contact you at 'reasonable times and intervals'.
If you believe a debt collector has treated you unfairly, after eight weeks you can complain to the relevant ombudsman for the company it is representing.
New guidelines that came in at the start of this month set out the steps a company or its debt collectors must follow before taking you to court. Firms must set out a full breakdown of charges and other details of the original contract in a Letter of Claim.
You will have 30 days from the date on the top of the letter to return a reply form before the company can start court proceedings.Once you return the form, you and the business then have a further 30 days to discuss the debt. During that time you should attempt to resolve the matter amicably.
If you request more information about the debt and proceedings in the reply form, the business must wait another 30 days after supplying the answers before dragging you to court.
If a company fails to follow the new rules — called Pre-Action Protocol for Debt Claims — a court may reduce the amount you have to pay. A judge could also put the proceedings on hold until the company complies.
The rules do not apply to HMRC. If you disagree with a bill or penalty from HMRC, contact the tax office mentioned in your letter straight away, as you may be able to delay payment while you are appealing the decision. You can also call the tax tribunal helpline on 0300 123 1024.
Peter Wallwork, chief executive of the Credit Services Association, which represents debt collectors, says complaints are falling.
'If you receive a letter from one of our members, and particularly if you think it is a mistake, contact the agency straight away and they will help you resolve it.'
[email protected] |
Certain older adults don't get to the hospital soon enough when experiencing a heart attack | For individuals experiencing a heart attack, delays in getting to the hospital can have life-threatening consequences. A new study in the Journal of the American Geriatrics Society found that certain factors—non-white race, atypical symptoms, and heart failure—are linked with such delays in older individuals.
| https://medicalxpress.com/news/2017-10-older-adults-dont-hospital-experiencing.html | 2017-10-18 09:42:10.577000 | Credit: CC0 Public Domain
For individuals experiencing a heart attack, delays in getting to the hospital can have life-threatening consequences. A new study in the Journal of the American Geriatrics Society found that certain factors—non-white race, atypical symptoms, and heart failure—are linked with such delays in older individuals.
The study included 2500 patients aged 75 or older hospitalized for heart attack. Pre-hospital delay (six or more hours before getting to the hospital) was much more common (42%) than in studies of younger heart attack populations, in whom the reported prevalence ranges from 20% to 25%.
"Delays in presentation can have huge consequences for older adults with heart attacks. Based on the results of our study, we need to develop better clinical and public health strategies to ensure timely presentation, especially among non-white communities, those with atypical symptoms, and those with heart failure," said lead author Dr. Gregory Ouellet, of Yale University. |
LA cops back year-long drone-deployment tests amid opposition | The Los Angeles Police Department (LAPD) has approved a year-long test of drones in tactical scenarios, natural-disaster relief and manhunts. The flights will need to gain approval on a case-by-case basis, and cannot be weaponised. While the LA Sheriff’s department already uses drones, the American Civil Liberties Union of Southern California opposes their wider use, saying that only a small number of the city's residents supported the LAPD plan. It said the “drone policy inadequately protects residents of Los Angeles and fails to take into account public mistrust of the LAPD's surveillance activities”.
| https://arstechnica.com/tech-policy/2017/10/los-angeles-set-to-be-largest-us-police-force-with-drones/ | 2017-10-18 09:34:08.663000 | The Los Angeles Police Department, one of the nation’s largest municipal police forces, approved a one-year pilot program for drones—making it the largest city in the nation to undertake such an evaluation.
According to the Los Angeles Times, the LA Police Commission approved a set of policies that limits "their use to a handful of tactical situations, searches or natural disasters." Each drone flight must also be signed off by a "high-ranking officer on a case-by-case basis." The drones are also not to be weaponized. The decision, which was announced Tuesday, was made despite vociferous protest.
Already the Los Angeles Sheriff's Department uses drones, as do other agencies in California, including the Ventura County Sheriff's Department and the Alameda County Sheriff's Organization.
"It's a great idea and will save lives," Sgt. Raymond Kelly, of the ACSO, e-mailed Ars.
The American Civil Liberties Union of Southern California urged its supporters to oppose the vote, noting that only a small fraction of citizens in Los Angeles expressed affirmative support for the use of drones.
In a recent letter to the LAPD, the ACLU of Southern California wrote that the new "drone policy inadequately protects residents of Los Angeles and fails to take into account public mistrust of the LAPD's surveillance activities." |
BlueVine raises $130m to expand SME-focused online lending | California-based BlueVine has raised up to $130m to expand its online lending service to small businesses. The company, which offers working capital financing, will also add a credit product that lets firms make monthly, instead of weekly, payments over a year. Since its foundation in 2013, BlueVine has raised $273m in funding, including $205m in debt financing and $68m in equity financing.
| https://www.prnewswire.com/news-releases/bluevine-expands-reach-with-up-to-130-million-in-new-debt-financing-and-business-credit-line-with-monthly-payments-300537271.html | 2017-10-18 08:57:31.180000 | REDWOOD CITY, Calif., Oct. 17, 2017 /PRNewswire/ -- BlueVine is expanding its reach in online business lending with new debt financing of up to $130 million and a new additional line of credit product that allows business owners to make monthly, instead of weekly, payments, over 12 months.
BlueVine, the leading provider of working capital financing to small and medium-sized businesses, secured significant debt capital financing from leading banks and investors. The company is proud to partner with Silicon Valley Bank, SunTrust Bank, Bank Leumi and TriplePoint Venture Growth BDC Corp. in its latest fundraising activities. The new funds will support the scaling of BlueVine's pioneering online invoice factoring product and the company's overall growth.
Including the latest investments, BlueVine, which was founded in 2013, has raised $273 million in funding, including $68 million in equity financing and up to $205 million in debt financing.
"The new capital raise reflects BlueVine's relentless dedication to serving our customers, as well as our momentum as a business. We are thrilled to partner with Silicon Valley Bank, SunTrust Bank, Bank Leumi and TriplePoint Venture Growth on our way to future milestones," said Ana Sirbu, BlueVine's Vice President of Finance and Capital Markets. "We are building a business for the long term and we continuously strive to offer our customers the best working capital financing products. As a testament to that, over 80 percent of our business is now through returning customers."
BlueVine secured major funding as the company rolls out a 12-month business line of credit based on monthly payments, a new offering that would make it easier for business owners to meet their everyday funding needs.
BlueVine introduced the new product in response to client requests for a longer-term business line of credit with monthly payment plans. The new financing underscores the fintech pioneer's commitment to innovation based on customer needs.
The new product gives business owners 12 months to repay each withdrawal in full, meaning lower payments each month.
"BlueVine's goal is to offer the optimal solution for every working capital challenge faced by business owners, and our new product is another step forward in fulfilling this vision," says BlueVine Founder and CEO Eyal Lifshitz. "Business owners have diverse needs, and by augmenting our product offering, we are able to offer the solution that fits best."
For the other requirements and more information on the 12-month business line of credit, please visit BlueVine.com
About BlueVine
BlueVine provides flexible working capital financing to small and medium-sized businesses, giving them quick access to funds needed to purchase inventory, cover expenses, or expand operations.
A fintech pioneer, BlueVine developed a fully-online cloud-based platform for invoice factoring, revolutionizing the 4,000-year old financing system that allows businesses to receive cash advances on outstanding invoices. BlueVine also offers Flex Credit, business line of credit financing based on 6-month and 12-month payment terms. Based in Redwood City, Calif., BlueVine has raised $273 million in equity and debt funding and is funded by Lightspeed Venture Partners, 83NORTH, Correlation Ventures, Citi Ventures, Menlo Ventures, Rakuten Fintech Fund and other private investors.
Press Contact
Amberly Asay
BlueVine Public Relations
801-461-9776
[email protected]
SOURCE BlueVine
Related Links
http://www.BlueVine.com
|
Autoplay ad videos face new restrictions on Safari and Chrome | Autoplay videos are facing new restrictions on leading browsers and have been cited by users as the most unacceptable form of advertising. The prevalence of such interruptive ads is driving more users to use ad blocking applications, with 18% of users in the US doing so. The trend was accelerated by Facebook, which began autoplaying videos in its newsfeeds in 2013, and 61% of video ads in Chrome now autostart. Apple is now taking action to block autoplaying videos with sound from its Safari browser, and Google Chrome is expected to do the same next year.
| https://digiday.com/media/state-of-autoplay-video/?utm_medium=email&utm_campaign=digidaydis&utm_source=uk&utm_content=171018 | 2017-10-18 08:48:59.470000 | You can’t browse the internet too long without running into an autoplay video ad. So ingrained (and derided) have autoplay video ads become that the leading browsers are cracking down. Apple is updating its Safari browser to block videos that play automatically with sound on and Google’s Chrome is expected to follow suit early next year when it starts filtering out ad formats that turn off users.
Facebook’s role
The explosion in autoplay can be traced back to Facebook, which started autoplaying videos in its news feed in September 2013. Facebook also has heavily promoted video in its feed generally. Since then, the number of daily video views on Facebook has skyrocketed, reaching 8 billion daily video views in November 2015, the last number it made public, up from 4 billion in April 2015 (although it only counts views as 3 seconds or more).
Now, 61 percent of video ads autostart in Chrome, the dominant browser (compared to 66 percent in Safari), according to JW Player.
Autoplay pile-on
Facebook’s use of autoplay, along with YouTube, Snapchat and Twitter, paved the way for publishers to pile on. Today, about one-third of sites autostart more than 75 percent of their video ads, according to MediaRadar, based on an analysis of sites that run video. One-third autostarts video ads 50 to 75 percent of the time. The final third autostarts video ads less than 50 percent of the time.
The drive for ad revenue that’s driven the use of autoplay seems to be universal; everyone from Refinery29 to The Wall Street Journal runs autoplay, and they’re just as likely to be small as big publishers, said Todd Krizelman, CEO of MediaRadar. “This was surprising and reinforces that video drives revenue for all size publishers,” he said.
MediaRadar also found that consumer-aimed sites overall are almost twice as likely as business-to-business sites to run autoplay video ads (69 percent versus 37 percent), with the highest rates found among business/finance- and technology-focused sites, he said.
Ad blocking
Autoplay also has been linked to increased rates of ad blocking, which is now employed by 18 percent of internet users in the U.S. and 11 percent globally, according to PageFair’s 2017 Adblock Report. PageFair, a company that helps publishers circumvent blocked ads, found that interruptive ads were the second most common motivation for blocking ads (cited by 29 percent), behind virus and malware concerns (30 percent). Non-interruptive ad formats are largely tolerated, while interruptive ones, starting with unskippable video ads, are the biggest annoyances.
“You hear people say, ‘It’s not fair with mobile phones; [autoplay] consumes data,'” said Mike Green, vp of Brightcove. “I think it’s just more the disruption of a quiet workspace.”
Negative sentiment
Still more evidence that people hate autoplay comes from Brandwatch, which found that since January, autoplay video has been mentioned more than 25,000 times on Twitter, Facebook, Instagram and Reddit. Interest peaked on two days in May when Pinterest introduced autoplay ads. There also were big spikes in mentions on news relating to Chrome combating autoplay videos. During that time period, the overall sentiment toward autoplay was 74 percent negative, according to Brandwatch. |
Twitter's video website card achieves higher clickthrough rates | Twitter has extended its ad features by adding a Video Website Card unit, which offers autoplaying videos with a web link. Before the update, video ads had to be posted with URLs in the tweet’s body text. Advertisers can select optimisation of the ad unit for video views, awareness objectives or website clicks. The new ad unit has been tested by Twitter with advertisers such as Jaguar and the Bank of America, and has reported a clickthrough rate that is twice the mobile video ad industry benchmark.
| http://mobilemarketingmagazine.com/twitter-launches-video-website-ad-unit-with-support-from-bank-of-america-and-jaguar | 2017-10-18 08:33:30.957000 | Twitter has added to its ad offering with the Video Website Card unit, which – as the name suggests – combines an autoplay video with a web link.
It might sound basic, but previously video ads had to include any URLs in the body of the tweet itself. This new unit brings video ads in line with the Website Card that is used for most embedded links on Twitter.
Advertisers can choose to optimise the ad unit for video views, website clicks or awareness objectives, paying for the action that most matters for their campaign.
“The Video Website Card is designed to work across a variety of brand objectives, as well as in the grey spaces that often exist between objectives,” said Twitter product manager Sean Huang. “So whether a brand is pairing the Video Website Card with the high reach of First View to announce a product launch, inviting travelers to click through to learn more about a featured destination, or showcasing game play to drive advance sales of a new video game, the Video Website Card removes friction for the consumer to engage, learn, or convert at their own rate.”
Twitter has been trialling the ad unit with advertisers including Bank of America and Jaguar, and reports a clickthrough rate of twice the industry benchmark for mobile video ads. |
Scientists develop AI for accurate cancer diagnosis | Researchers at MIT have developed an artificial intelligence-powered system that improves the success rate of detecting cancer. In tests, the system correctly diagnosed 97% of malignant breast cancers, a rate that would reduce benign surgeries by more than 30%. Currently, mammograms are the best test but often produce false positives that result in unnecessary invasive surgery and biopsies for women. The AI uses machine learning and, while researchers believe the technology can be refined, the model could be used for detecting other types of cancers.
| http://news.mit.edu/2017/artificial-intelligence-early-breast-cancer-detection-1017 | 2017-10-18 08:24:04.377000 | Every year 40,000 women die from breast cancer in the U.S. alone. When cancers are found early, they can often be cured. Mammograms are the best test available, but they’re still imperfect and often result in false positive results that can lead to unnecessary biopsies and surgeries.
One common cause of false positives are so-called “high-risk” lesions that appear suspicious on mammograms and have abnormal cells when tested by needle biopsy. In this case, the patient typically undergoes surgery to have the lesion removed; however, the lesions turn out to be benign at surgery 90 percent of the time. This means that every year thousands of women go through painful, expensive, scar-inducing surgeries that weren’t even necessary.
How, then, can unnecessary surgeries be eliminated while still maintaining the important role of mammography in cancer detection? Researchers at MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), Massachusetts General Hospital, and Harvard Medical School believe that the answer is to turn to artificial intelligence (AI).
As a first project to apply AI to improving detection and diagnosis, the teams collaborated to develop an AI system that uses machine learning to predict if a high-risk lesion identified on needle biopsy after a mammogram will upgrade to cancer at surgery.
When tested on 335 high-risk lesions, the model correctly diagnosed 97 percent of the breast cancers as malignant and reduced the number of benign surgeries by more than 30 percent compared to existing approaches.
“Because diagnostic tools are so inexact, there is an understandable tendency for doctors to over-screen for breast cancer,” says Regina Barzilay, MIT’s Delta Electronics Professor of Electrical Engineering and Computer Science and a breast cancer survivor herself. “When there’s this much uncertainty in data, machine learning is exactly the tool that we need to improve detection and prevent over-treatment.”
Trained on information about more than 600 existing high-risk lesions, the model looks for patterns among many different data elements that include demographics, family history, past biopsies, and pathology reports.
“To our knowledge, this is the first study to apply machine learning to the task of distinguishing high-risk lesions that need surgery from those that don’t,” says collaborator Constance Lehman, professor at Harvard Medical School and chief of the Breast Imaging Division at MGH’s Department of Radiology. “We believe this could support women to make more informed decisions about their treatment, and that we could provide more targeted approaches to health care in general.”
A recent MacArthur “genius grant” recipient, Barzilay is a co-author of a new journal article describing the results, co-written with Lehman and Manisha Bahl of MGH, as well as CSAIL graduate students Nicholas Locascio, Adam Yedidia, and Lili Yu. The article was published today in the medical journal Radiology.
How it works
When a mammogram detects a suspicious lesion, a needle biopsy is performed to determine if it is cancer. Roughly 70 percent of the lesions are benign, 20 percent are malignant, and 10 percent are high-risk lesions.
Doctors manage high-risk lesions in different ways. Some do surgery in all cases, while others perform surgery only for lesions that have higher cancer rates, such as “atypical ductal hyperplasia” (ADH) or a “lobular carcinoma in situ” (LCIS).
The first approach requires that the patient undergo a painful, time-consuming, and expensive surgery that is usually unnecessary; the second approach is imprecise and could result in missing cancers in high-risk lesions other than ADH and LCIS.
“The vast majority of patients with high-risk lesions do not have cancer, and we’re trying to find the few that do,” says Bahl, a fellow doctor at MGH’s Department of Radiology. “In a scenario like this there’s always a risk that when you try to increase the number of cancers you can identify, you’ll also increase the number of false positives you find.”
Using a method known as a “random-forest classifier,” the team's model resulted in fewer unnecessary surgeries compared to the strategy of always doing surgery, while also being able to diagnose more cancerous lesions than the strategy of only doing surgery on traditional “high-risk lesions.” (Specifically, the new model diagnosed 97 percent of cancers compared to 79 percent.)
“This work highlights an example of using cutting-edge machine learning technology to avoid unnecessary surgery,” says Marc Kohli, director of clinical informatics in the Department of Radiology and Biomedical Imaging at the University of California at San Francisco. “This is the first step toward the medical community embracing machine learning as a way to identify patterns and trends that are otherwise invisible to humans.”
Lehman says that MGH radiologists will begin incorporating the model into their clinical practice over the next year.
“In the past we might have recommended that all high-risk lesions be surgically excised,” Lehman says. “But now, if the model determines that the lesion has a very low chance of being cancerous in a specific patient, we can have a more informed discussion with our patient about her options. It may be reasonable for some patients to have their lesions followed with imaging rather than surgically excised.”
The team says that they are still working to further hone the model.
“In future work we hope to incorporate the actual images from the mammograms and images of the pathology slides, as well as more extensive patient information from medical records,” says Bahl.
Moving forward, the model could also easily be tweaked to be applied to other kinds of cancer and even other diseases entirely.
“A model like this will work anytime you have lots of different factors that correlate with a specific outcome,” says Barzilay. “It hopefully will enable us to start to go beyond a one-size-fits-all approach to medical diagnosis.” |
Gates uses Ripple tech to open digital finance to the poor | The Gates Foundation has partnered with several fintech firms, including Ripple, to launch open-source software Mojaloop, aimed at offering financial services to some of the world's two billion people stuck in poverty. The software, developed on Ripple's interledger protocol, brings together merchants, mobile wallets and banks to allow free and fluid transactions. Ripple CTO Stefan Thomas said Mojaloop had the "potential to bring millions into the fold of the global digital economy".
| https://www.cryptocoinsnews.com/gates-foundation-taps-ripple-to-develop-mobile-payments-services/ | 2017-10-18 08:19:36.100000 | The Bill & Melinda Gates Foundation has tapped Ripple’s Interledger Protocol (ILP) to help level the economic playing field for the 2 billion people who ...
The Bill & Melinda Gates Foundation has tapped Ripple’s Interledger Protocol (ILP) to help level the economic playing field for the 2 billion people who are trapped in poverty, many of whom solely because they do not have access to a bank account or other basic financial services.
Gates Foundation Calls on Ripple
On Monday, the Gates Foundation released Mojaloop, software intended to provide the world’s unbanked population with access to digital financial services. The software is open-source, so banks will be able to adapt and implement it into their digital platforms with reduced effort and cost. The project was funded by the Gates Foundation and developed by a group of fintech companies, including Ripple.
Mojaloop uses Ripple’s ILP technology to create an interoperability layer that connects bank accounts, mobile wallets, and merchants in a single loop. According to Ripple, this will enable market participants to conduct digital transactions as “freely and fluidly” as cash, which will help not only individuals but also the wider local and national economies.
Kosta Peric, Gates Foundation deputy director of financial services for the poor, explained in a statement that interoperability has been one of the primary obstacles preventing the poor from using digital wallets to access basic financial services:
“Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution that can apply to any service, and we invite banks and the payments industry to explore and test this tool.”
In an announcement posted on the startup’s blog, Ripple Chief Technology Officer Stefan Thomas added that Mojaloop has the potential to introduce millions of people into the digital economy:
“Enabling the poor to make payments to anyone, anywhere, using a mobile wallet has implications beyond increased access to their domestic economies. It has the potential to bring millions into the fold of the global digital economy. We are honored to have been a part of this project.”
Ripple Price Declines
Unlike the announcement from fellow fintech startup Stellar, this project does not initially appear to rely on the firm’s native cryptocurrency. Consequently, it is unlikely to have a noticeable effect on the price of XRP. In fact, the ripple price has declined to a present value of $0.256 after briefly climbing to $0.291 Monday morning ahead of the opening of “Swell”, a Toronto fintech conference hosted by Ripple.
Featured image from Shutterstock. |
Q3 catastrophe losses estimated at $1.35bn for XL Catlin | XL Catlin has said it estimates catastrophe losses for Q3 2017 will total about $1.35bn after taxes, due largely to the effects of Hurricanes Harvey, Irma and Maria. The losses are in line with expectations, CEO Mike McGavick noted. The firm says it does have reinsurance protections remaining for this year and 2018, as well as issued catastrophe bonds, some of which don't expire until 2019. Of the three major storms, Irma had the biggest impact on the insurer, accounting for 40% of its Q3 losses.
| http://www.businessinsurance.com/article/20171012/NEWS06/912316502/XL-Catlin-Markel-hurricane-Harvey-Irma-Maria-Mexico-quake-loss-estimates | 2017-10-18 07:14:09.730000 | XL Group Ltd. and Markel Corp. on Wednesday released preliminary loss estimates for the third quarter of 2017, both citing the impacts of hurricanes Harvey, Irma and Maria.
Both insurers said the losses were within their expectations.
Hamilton, Bermuda-based XL Group, which does business as XL Catlin, said that its preliminary estimate of net losses totaled about $1.33 billion due to the three hurricanes. Preliminarily estimated third-quarter catastrophe losses including smaller loss events totaled about $1.48 billion, XL Group said in a statement.
The preliminary estimates are pretax and net of reinsurance, reinstatement and adjustment premiums and redeemable noncontrolling interest. After taxes, XL Catlin said, the preliminary estimate of total catastrophe net losses for the quarter is about $1.35 billion.
The estimates are based on a combination of catastrophe modeling, exposure analysis and preliminary ground-up notifications and are consistent with private insured market loss estimates for the three hurricanes in the range of $75 billion to $90 billion.
Hurricanes Harvey, Irma and Maria each contributed roughly 25%, 40% and 25%, respectively, to the company loss estimates, XL Catlin said, with 10% related to all other events in the quarter, most notably the Mexican earthquakes and Typhoon Hato, which struck Macau and southern China in August.
The estimated losses are about evenly split between the company’s insurance and reinsurance segments. XL said it continues to have significant catastrophe reinsurance protections remaining for 2017 and 2018, including catastrophe bond protections, some of which extend through 2019.
XL Catlin CEO Mike McGavick said in the statement that “given the specific nature of the events themselves our estimated losses are largely in line with our expectations.”
Morgan Stanley said in a research update that XL's losses were roughly in line with expectations. “The news should alleviate recent investor concerns about an outsized loss from XL and any concerns about capital raise needs,” the update said.
Richmond, Virginia-based Markel, meanwhile, said it expects to report third-quarter pretax underwriting losses of $503 million, net of reinstatement premiums, from hurricanes Harvey, Irma and Maria as well as the Mexico City earthquake.
Markel said its estimate for the hurricane and earthquake losses is based on claims received to date and detailed policy level reviews, industry loss estimates, output from both industry and proprietary models, and a review of in-force contracts.
Markel’s estimate is preliminary and dependent on broad assumptions about coverage, liability and reinsurance. Co-CEO Richard R. Whitt III said in a statement that “these significant losses fell within our expectations.” |
XL Catlin offers cyber clients free trial of security software | Clients purchasing cyber insurance policies from XL Catlin will also be offered a free 90-day trial of cybersecurity software Security as a Service (SecS)² provided by California-based Clarium Managed Services. Following the trial, clients will be offered the use of Clarium's software at a discount for two years. The insurer said firms taking proactive preventative steps against cyber attacks suffer reduced financial losses and less reputational harm when a cyber breach occurs.
| http://www.4-traders.com/XL-GROUP-LTD-30325827/news/XL-Catlin-Offers-Cyber-Technology-Insurance-Clients-Free-90-Day-Third-Party-Security-Through-Clar-25276811/ | 2017-10-18 06:22:27.677000 | Or log in with |
Regus Regus finds slow broadband puts people off working remotely | 27% of UK professionals are unable to work remotely due to inadequate internet provision, according to a survey by Regus. Out of more than 1,700 workers, almost three-quarters said quality internet was crucial to using file-sharing sites such as Dropbox, and 62% said communication tools like Skype were a necessity outside the office. The UK government's £200m ($263m) broadband project got underway last month, while National Infrastructure Commission, Lord Adonis, said the UK's broadband issue was a "key infrastructure challenge".
| http://businessadvice.co.uk/procurement/technology/slow-broadband-remains-a-major-barrier-to-working-remotely/ | 2017-10-18 06:14:51.997000 | Slow broadband remains a major barrier to working remotely
More than a quarter of the workforce are still put off from working remotely because of slow or inadequate broadband connectivity, according to a recent study. Some 27 per cent of UK professionals said that poor internet provision was the biggest barrier against working remotely, despite the fact that remote working may boost individual productivity. A survey from workspace provider Regus asked more than 1, 700 workers about their attitudes towards working remotely. Internet provision was revealed to be a crucial part of what most people required from working outside of office premises. Especially vital to working remotely were internet-enabled apps and tools which made file sharing and communication more efficient. The majority of respondents emphasised the necessity of Dropbox (72 per cent) and Skype (62 per cent) to remote working, for example. In a previous study from Regus, the ability to work remotely was hailed by 44 per cent of professionals as being beneficial to productivity, and by 32 per cent as being beneficial to morale. Commenting on the findings, Regus? UK chief executive, Richard Morris, said: Having access to fast, reliable internet along with a quiet, professional working space is one of the essential ingredients for successful remote working. the benefits are undeniable, and the take-up of flexible working space across the UK provides demonstrable evidence that increasing numbers of forward-thinking firms are adopting a remote working model. Internet connectivity has long been a major issue for small UK businesses, and the government has launched a number of major initiatives to improve the country’s broadband infrastructure. Last month, the first stage of the government’s planned £200m broadband project began, with six UK regions receiving £10m each to test various ways of connecting local business premises and public buildings with super-fast broadband networks.In recent weeks, the issue of inadequate broadband infrastructure has again hit headlines. The chair of the National Infrastructure Commission, Lord Adonis, highlighted poor broadband as a key UK infrastructure challenge. The country currently falls behind major economies including the USA, Netherlands and Japan in terms of its 4G and broadband speeds. How recent rural broadband developments may help your business |
China will open markets to foreign investors: President Xi | China's Communist Party congress has begun its twice-a-decade meeting. In his opening speech, President Xi Jinping promised to relax market access for foreign investors, let the market play a key role in resource allocation in the economy and push for more market-oriented reform of exchange and interest rates. He also stressed China's strong opposition to Taiwan independence and hailed the success of his anti-corruption drive.
| https://www.cnbc.com/2017/10/17/chinese-president-xi-jinping-speaks-at-communist-party-congress.html | 2017-10-18 06:00:25.163000 | Chinese President Xi Jinping delivers a speech at the opening session of the Chinese Communist Party's five-yearly Congress at the Great Hall of the People in Beijing on October 18, 2017.
Chinese President Xi Jinping on Wednesday stressed the benefits of "socialism with Chinese characteristics" at the beginning of the Communist Party's once-every-five-year Party Congress.
The president told the assembled members of the party that his nation's prospects are bright, but it faces severe challenges. He proceeded to lay out his vision for a socialist future.
"We will unite the Chinese people of all ethnic groups and lead them to a decisive victory in building a moderately prosperous society in all respects and in the drive to secure the success of socialism with Chinese characteristics for a new era," he said, according to a translation from China Daily.
Xi touted the success of China in recent years during the address, including what he characterized as overwhelming momentum for his anti-corruption campaign.
Under Xi, Beijing has waged a relentless fight against deep-rooted graft since assuming power five years ago, with more than one million officials punished and dozens of former senior officials jailed.
The president also claimed during his address that China will let the market play a decisive role in resource allocation in the economy. Beijing has called for a greater role for market forces in the economy in order to improve efficiency and develop a more sustainable growth model, but some have been skeptical of its progress on that front.
On the economic policy front, Xi also said Beijing will push mergers and acquisitions for state-owned assets, it will expand market access for the services sector, and it will deepen financial reform. He also said the country will deepen its market-oriented reform of exchange and interest rates.
China, Xi said, will continue to open up to the world, including relaxing market access for foreign investment.
The president also highlighted Beijing's firm opposition to Taiwan independence over the last five years.
The full title of Xi's working report that he presented Wednesday is "Secure a Decisive Victory in Building a Moderately Prosperous Society in All Respects and Strive for the Great Success of Socialism with Chinese Characteristics for a New Era."
—The Associated Press and Reuters contributed to this report. |
Regus Regus renews lease at Penn Plaza in New York City | Abstract: Flexible workspace provider Regus has renewed its lease on the 60,000 sq ft Penn Plaza building in New York, ensuring its tenancy for the next 10 years. The firm currently occupies the 19th and 23rd floors of the 26-story building. Regus paid $68 per sq ft in rent, according to Commercial Observer.
| https://therealdeal.com/2017/10/17/regus-re-ups-lease-for-10-years-at-5-penn-plaza/ | 2017-10-18 05:55:38.113000 | Global office provider Regus plans to stay at 5 Penn Plaza for at least the next decade.
Regus renewed its lease at the 26-story building, where the company occupies 60,000 square feet across the entire 19th and 23rd floors, the Commercial Observer reported. The asking rent for the space was $68 per square foot.
CBRE’s Peter Turchin, along with Jason Pollen, Dave Caperna and Hilary Whittier, represented landlord Haymes Investment Company in the deal. JLL’s Jim Wenk and Transwestern’s Patrick Heeg (formerly of JLL) represented Regus.
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In May, health care tech firm Remedy Partners signed a lease for 28,640 square feet of pre-built space at 5 Penn Plaza. Haymes received a $300 million CMBS loan from Citigroup for the 631,000-square-foot property last year.
In July, Regus announced that it would open its co-working concept Spaces at RXR Realty’s Helmsley Building. Spaces already has 35 locations worldwide and another 28 set to open in the near future. [CO] — Kathryn Brenzel |
Plummeting insect numbers could cause 'ecological Armageddon' | The number of flying insects in the world has fallen by 76% over the past 27 years, a rate of roughly 6% per year, according to data gathered from German nature reserves. The scale of the loss has led to warnings of an “ecological Armageddon”. Insects, which constitute roughly two thirds of life on Earth, serve as pollinators for flowers and crops, and provide food for other species. Some insects also fulfil ecologically important roles as predators. The cause of the decline in numbers remains uncertain, but habitat destruction, widespread pesticide use and climate change are all potential factors. | https://www.theguardian.com/environment/2017/oct/18/warning-of-ecological-armageddon-after-dramatic-plunge-in-insect-numbers | 2017-10-17 21:00:00 | The abundance of flying insects has plunged by three-quarters over the past 25 years, according to a new study that has shocked scientists.
Insects are an integral part of life on Earth as both pollinators and prey for other wildlife and it was known that some species such as butterflies were declining. But the newly revealed scale of the losses to all insects has prompted warnings that the world is “on course for ecological Armageddon”, with profound impacts on human society.
The new data was gathered in nature reserves across Germany but has implications for all landscapes dominated by agriculture, the researchers said.
The cause of the huge decline is as yet unclear, although the destruction of wild areas and widespread use of pesticides are the most likely factors and climate change may play a role. The scientists were able to rule out weather and changes to landscape in the reserves as causes, but data on pesticide levels has not been collected.
“The fact that the number of flying insects is decreasing at such a high rate in such a large area is an alarming discovery,” said Hans de Kroon, at Radboud University in the Netherlands and who led the new research.
“Insects make up about two-thirds of all life on Earth [but] there has been some kind of horrific decline,” said Prof Dave Goulson of Sussex University, UK, and part of the team behind the new study. “We appear to be making vast tracts of land inhospitable to most forms of life, and are currently on course for ecological Armageddon. If we lose the insects then everything is going to collapse.”
The research, published in the journal Plos One, is based on the work of dozens of amateur entomologists across Germany who began using strictly standardised ways of collecting insects in 1989. Special tents called malaise traps were used to capture more than 1,500 samples of all flying insects at 63 different nature reserves.
The malaise traps set in protected areas and reserves, which scientists say makes the declines even more worrying. Photograph: Courtesy of Courtesy of Entomologisher Verein Krefeld
When the total weight of the insects in each sample was measured a startling decline was revealed. The annual average fell by 76% over the 27 year period, but the fall was even higher – 82% – in summer, when insect numbers reach their peak.
Previous reports of insect declines have been limited to particular insects, such European grassland butterflies, which have fallen by 50% in recent decades. But the new research captured all flying insects, including wasps and flies which are rarely studied, making it a much stronger indicator of decline.
The fact that the samples were taken in protected areas makes the findings even more worrying, said Caspar Hallmann at Radboud University, also part of the research team: “All these areas are protected and most of them are well-managed nature reserves. Yet, this dramatic decline has occurred.”
The amateur entomologists also collected detailed weather measurements and recorded changes to the landscape or plant species in the reserves, but this could not explain the loss of the insects. “The weather might explain many of the fluctuations within the season and between the years, but it doesn’t explain the rapid downward trend,” said Martin Sorg from the Krefeld Entomological Society in Germany, who led the amateur entomologists.
Goulson said a likely explanation could be that the flying insects perish when they leave the nature reserves. “Farmland has very little to offer for any wild creature,” he said. “But exactly what is causing their death is open to debate. It could be simply that there is no food for them or it could be, more specifically, exposure to chemical pesticides, or a combination of the two.”
In September, a chief scientific adviser to the UK government warned that regulators around the world have falsely assumed that it is safe to use pesticides at industrial scales across landscapes and that the “effects of dosing whole landscapes with chemicals have been largely ignored”.
The scientists said further work is urgently needed to corroborate the new findings in other regions and to explore the issue in more detail. While most insects do fly, it may be that those that don’t, leave nature reserves less often and are faring better. It is also possible that smaller and larger insects are affected differently, and the German samples have all been preserved and will be further analysed.
In the meantime, said De Kroon: “We need to do less of the things that we know have a negative impact, such as the use of pesticides and the disappearance of farmland borders full of flowers.”
As well as being pollinators insects provide food for birds and other animals and help control pests. Photograph: Kevin Elsby/Alamy
Lynn Dicks at the University of East Anglia, UK, and not involved in the new research said the work was convincing. “It provides important new evidence for an alarming decline that many entomologists have suspected is occurring for some time.”
“If total flying insect biomass is genuinely declining at this rate – about 6% per year – it is extremely concerning,” she said. “Flying insects have really important ecological functions, for which their numbers matter a lot. They pollinate flowers: flies, moths and butterflies are as important as bees for many flowering plants, including some crops. They provide food for many animals – birds, bats, some mammals, fish, reptiles and amphibians. Flies, beetles and wasps are also predators and decomposers, controlling pests and cleaning up the place generally.”
Another way of sampling insects – car windscreens – has often been anecdotally used to suggest a major decline, with people remembering many more bugs squashed on their windscreens in the past.
“I think that is real,” said Goulson. “I drove right across France and back this summer – just when you’d expect your windscreen to be splattered all over – and I literally never had to stop to clean the windscreen.” |
Plummeting insect numbers could cause 'ecological Armageddon' | The number of flying insects in the world has fallen by 76% over the past 27 years, a rate of roughly 6% per year, according to data gathered from German nature reserves. The scale of the loss has led to warnings of an “ecological Armageddon”. Insects, which constitute roughly two thirds of life on Earth, serve as pollinators for flowers and crops, and provide food for other species. Some insects also fulfil ecologically important roles as predators. The cause of the decline in numbers remains uncertain, but habitat destruction, widespread pesticide use and climate change are all potential factors. | http://journals.plos.org/plosone/article?id=10.1371/journal.pone.0185809 | 2017-10-17 21:00:00 | Abstract Global declines in insects have sparked wide interest among scientists, politicians, and the general public. Loss of insect diversity and abundance is expected to provoke cascading effects on food webs and to jeopardize ecosystem services. Our understanding of the extent and underlying causes of this decline is based on the abundance of single species or taxonomic groups only, rather than changes in insect biomass which is more relevant for ecological functioning. Here, we used a standardized protocol to measure total insect biomass using Malaise traps, deployed over 27 years in 63 nature protection areas in Germany (96 unique location-year combinations) to infer on the status and trend of local entomofauna. Our analysis estimates a seasonal decline of 76%, and mid-summer decline of 82% in flying insect biomass over the 27 years of study. We show that this decline is apparent regardless of habitat type, while changes in weather, land use, and habitat characteristics cannot explain this overall decline. This yet unrecognized loss of insect biomass must be taken into account in evaluating declines in abundance of species depending on insects as a food source, and ecosystem functioning in the European landscape.
Citation: Hallmann CA, Sorg M, Jongejans E, Siepel H, Hofland N, Schwan H, et al. (2017) More than 75 percent decline over 27 years in total flying insect biomass in protected areas. PLoS ONE 12(10): e0185809. https://doi.org/10.1371/journal.pone.0185809 Editor: Eric Gordon Lamb, University of Saskatchewan, CANADA Received: July 28, 2017; Accepted: September 19, 2017; Published: October 18, 2017 Copyright: © 2017 Hallmann et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. Data Availability: All relevant data are within the paper and its Supporting Information files. Funding: CH and EJ were supported by the Netherlands Organization for Scientific Research (NWO grants 840.11.001 and 841.11.007), and NH by the Triodos Foundation. The investigations of the Entomological Society Krefeld and its members are spread over numerous individual projects at different locations and in different years. Grants and permits that have made this work possible are listed below: Bezirksregierungen Düsseldorf & Köln, BfN - Bundesamt für Naturschutz, Land Nordrhein-Westfalen - Europäische Gemeinschaft ELER, Landesamt für Agrarordnung Nordrhein-Westfalen, Landesamt für Natur, Umwelt und Verbraucherschutz Nordrhein-Westfalen, Landesamt für Umwelt Brandenburg, Landesamt für Umwelt Rheinland-Pfalz, LVR - Landschaftsverband Rheinland, Naturschutzbund Deutschland, Nordrhein-Westfalen Stiftung, RBN Bergischer Naturschutzverein, RVR - Regionalverband Ruhr, SGD Nord Rheinland-Pfalz, Universitäten Bonn, Duisburg-Essen & Köln, Untere Landschaftsbehörden: Kreis Düren, Kreis Heinsberg, Kreis Kleve, Kreis Viersen, Kreis Wesel & AGLW, Stadt Düsseldorf, Stadt Köln, Stadt Krefeld, Rheinisch Bergischer Kreis, Rhein Kreis Neuss & Rhein-Sieg-Kreis. Members of the Entomological Society Krefeld and cooperating botanists and entomologists that were involved in the empirical investigations are greatly acknowledged: U.W. Abts, F. Bahr, A. Bäumler, D. & H. Beutler, P. Birnbrich, U. Bosch, J. Buchner, F. Cassese, K. Cölln, A.W. Ebmer, R. Eckelboom, B. Franzen, M. Grigo, J. Günneberg, J. Gusenleitner, K. Hamacher, F. Hartfeld, M. Hellenthal, J. Hembach, A. Hemmersbach, W. Hock, V. Huisman-Fiegen, J. Illmer, E. Jansen, U. Jäckel, F. Koch, M. Kreuels, P. Leideritz, I. Loksa, F. B. Ludescher, F. J. Mehring, G. Milbert, N. Mohr, P. Randazzo, K. Reissmann, S. Risch, B. Robert, J. de Rond, U. Sandmann, S. Scharf, P. Scherz, J. Schiffer, C. Schmidt, O. & W. Schmitz, B. P. & W. Schnell, J. L. Schönfeld, E. Schraetz, M. Schwarz, R. Seliger, H. W. Siebeneicher, F. & H. Sonnenburg W. J. S. & P. Sorg, A. Ssymank, H. Sticht, M. Weithmann, W. Wichard and H. Wolf. Competing interests: The authors have declared that no competing interests exist.
Introduction Loss of insects is certain to have adverse effects on ecosystem functioning, as insects play a central role in a variety of processes, including pollination [1, 2], herbivory and detrivory [3, 4], nutrient cycling [4] and providing a food source for higher trophic levels such as birds, mammals and amphibians. For example, 80% of wild plants are estimated to depend on insects for pollination [2], while 60% of birds rely on insects as a food source [5]. The ecosystem services provided by wild insects have been estimated at $57 billion annually in the USA [6]. Clearly, preserving insect abundance and diversity should constitute a prime conservation priority. Current data suggest an overall pattern of decline in insect diversity and abundance. For example, populations of European grassland butterflies are estimated to have declined by 50% in abundance between 1990 and 2011 [7]. Data for other well-studied taxa such as bees [8–14] and moths [15–18] suggest the same trend. Climate change, habitat loss and fragmentation, and deterioration of habitat quality have been proposed as some of the prime suspects responsible for the decline [9–11, 13, 18–22]. However, the number of studies on insect trends with sufficient replication and spatial coverage are limited [10, 23–25] and restricted to certain well-studied taxa. Declines of individual species or taxa (e.g. [7, 26]) may not reflect the general state of local entomofauna [27]. The total insect biomass would then be a better metric for the status of insects as a group and its contribution to ecosystem functioning, but very few studies have monitored insect biomass over an extensive period of time [28]. Hence, to what extent total insect biomass has declined, and the relative contribution of each proposed factor to the decline, remain unresolved yet highly relevant questions for ecosystem ecology and conservation. Here, we investigate total aerial insect biomass between 1989 and 2016 across 96 unique location-year combinations in Germany, representative of Western European low-altitude nature protection areas embedded in a human-dominated landscape (S1 Fig). In all years we sampled insects throughout the season (March through October), based on a standardized sampling scheme using Malaise traps. We investigated rate of decline in insect biomass, and examined how factors such as weather, habitat and land use variables influenced the declines. Knowledge on the state of insect biomass, and it’s direction over time, are of broad importance to ecology and conservation, but historical data on insect biomass have been lacking. Our study makes a first step into filling this gap, and provides information that is vital for the assessment of biodiversity conservation and ecosystem health in agricultural landscapes.
Discussion Our results document a dramatic decline in average airborne insect biomass of 76% (up to 82% in midsummer) in just 27 years for protected nature areas in Germany. This considerably exceeds the estimated decline of 58% in global abundance of wild vertebrates over a 42-year period to 2012 [56, 57]. Our results demonstrate that recently reported declines in several taxa such as butterflies [7, 25–27, 58], wild bees [8–14] and moths [15–18], are in parallel with a severe loss of total aerial insect biomass, suggesting that it is not only the vulnerable species, but the flying insect community as a whole, that has been decimated over the last few decades. The estimated decline is considerably more severe than the only comparable long term study on flying insect biomass elsewhere [28]. In that study, 12.2m high suction traps were deployed at four locations in the UK over the time period 1973–2002, and showed a biomass decline at one of the four sites only. However, the sampling designs differ considerably between the two studies. Suction traps mainly target high-flying insects, and in that study the catches were largely comprised of flies belonging to the Bibionidae family. Contrary, malaise traps as used in the present study target insects flying close to the ground surface (up to 1 meter), with a much wider diversity of taxa. Future investigations should look into how biomass is distributed among insect species, and how species trends contribute to the biomass decline. Although the present dataset spans a relatively large number of years (27) and sites (63), the number of repetitions (i.e. multiple years of seasonal distributions at the same locations) was lower (n = 26). We are however confident that our estimated rate of decline in total biomass resembles the true rate of decline, and is not an artifact of site selection. Firstly, our basic model (including an annual rate of decline) outperformed the null-model (without an annual rate of decline; ΔDIC = 822.62 units; Table 3), while at the same time, between-plot variation (i.s. σ site ) and residual variation (v) decreased by 44.3 and 9.7% respectively, after incorporating an annual rate of decline into the models. Secondly, using only data from sites at which malaise traps were operating in at least two years, we estimated a rate of decline similar to using the full dataset (Fig 4), with the pattern of decline being congruent across locations (S4 Fig). Taken together, there does not seem to be evidence that spatial variation (between sites) in this dataset forms a confounding factor to the estimated temporal trend, and conclude that our estimated biomass decline is representative for lowland protected areas in west Germany. In light of previously suggested driving mechanisms, our analysis renders two of the prime suspects, i.e. landscape [9, 18, 20] and climate change [15, 18, 21, 37], as unlikely explanatory factors for this major decline in aerial insect biomass in the investigated protected areas. Habitat change was evaluated in terms of changes in plant species composition surrounding the standardized trap locations, and in plant species characteristics (Ellenberg values). Land use changes was evaluated in terms of proportional surface changes in aerial photographs, and not for example changes in management regimes. Given the major decline in insect biomass of about 80%, much stronger relationships would have been expected if changes in habitat and land use were the driving forces, even with the somewhat crude parameters that were at our disposal. The decline in insect biomass, being evident throughout the growing season, and irrespective of habitat type or landscape configuration, suggests large-scale factors must be involved. While some temporal changes in climatic variables in our study area have taken place, these either were not of influence (e.g. wind speed), or changed in a manner that should have increased insect biomass (e.g temperature). However, we have not exhaustively analysed the full range of climatic variables that could potentially impact insect biomass. For example prolonged droughts, or lack of sunshine especially in low temperatures might have had an effect on insect biomass [59–62]. Agricultural intensification [17, 20] (e.g. pesticide usage, year-round tillage, increased use of fertilizers and frequency of agronomic measures) that we could not incorporate in our analyses, may form a plausible cause. The reserves in which the traps were placed are of limited size in this typical fragmented West-European landscape, and almost all locations (94%) are enclosed by agricultural fields. Part of the explanation could therefore be that the protected areas (serving as insect sources) are affected and drained by the agricultural fields in the broader surroundings (serving as sinks or even as ecological traps) [1, 63–65]. Increased agricultural intensification may have aggravated this reduction in insect abundance in the protected areas over the last few decades. Whatever the causal factors responsible for the decline, they have a far more devastating effect on total insect biomass than has been appreciated previously. The widespread insect biomass decline is alarming, ever more so as all traps were placed in protected areas that are meant to preserve ecosystem functions and biodiversity. While the gradual decline of rare insect species has been known for quite some time (e.g. specialized butterflies [9, 66]), our results illustrate an ongoing and rapid decline in total amount of airborne insects active in space and time. Agricultural intensification, including the disappearance of field margins and new crop protection methods has been associated with an overall decline of biodiversity in plants, insects, birds and other species in the current landscape [20, 27, 67]. The major and hitherto unrecognized loss of insect biomass that we report here for protected areas, adds a new dimension to this discussion, because it must have cascading effects across trophic levels and numerous other ecosystem effects. There is an urgent need to uncover the causes of this decline, its geographical extent, and to understand the ramifications of the decline for ecosystems and ecosystem services.
Acknowledgments CH and EJ were supported by the Netherlands Organization for Scientific Research (NWO grants 840.11.001 and 841.11.007), and NH by the Triodos Foundation. The investigations of the Entomological Society Krefeld and its members are spread over numerous individual projects at different locations and in different years. Grants and permits that have made this work possible are listed below: Bezirksregierungen Düsseldorf & Köln, BfN—Bundesamt für Naturschutz, Land Nordrhein-Westfalen—Europäische Gemeinschaft ELER, Landesamt für Agrarordnung Nordrhein-Westfalen, Landesamt für Natur, Umwelt und Verbraucherschutz Nordrhein-Westfalen, Landesamt für Umwelt Brandenburg, Landesamt für Umwelt Rheinland-Pfalz, LVR—Landschaftsverband Rheinland, Naturschutzbund Deutschland, Nordrhein-Westfalen Stiftung, RBN—Bergischer Naturschutzverein, RVR—Regionalverband Ruhr, SGD Nord Rheinland-Pfalz, Universitäten Bonn, Duisburg-Essen & Köln, Untere Landschaftsbehörden: Kreis Düren, Kreis Heinsberg, Kreis Kleve, Kreis Viersen, Kreis Wesel & AGLW, Stadt Düsseldorf, Stadt Köln, Stadt Krefeld, Rheinisch Bergischer Kreis, Rhein Kreis Neuss & Rhein-Sieg-Kreis. Members of the Entomological Society Krefeld and cooperating botanists and entomologists that were involved in the empirical investigations are greatly acknowledged: U.W. Abts, F. Bahr, A. Bäumler, D. & H. Beutler, P. Birnbrich, U. Bosch, J. Buchner, F. Cassese, K. Cölln, A.W. Ebmer, R. Eckelboom, B. Franzen, M. Grigo, J. Günneberg, J. Gusenleitner, K. Hamacher, F. Hartfeld, M. Hellenthal, J. Hembach, A. Hemmersbach, W. Hock, V. Huisman-Fiegen, J. Illmer, E. Jansen, U. Jäckel, F. Koch, M. Kreuels, P. Leideritz, I. Loksa, F. B. Ludescher, F. J. Mehring, G. Milbert, N. Mohr, P. Randazzo, K. Reissmann, S. Risch, B. Robert, J. de Rond, U. Sandmann, S. Scharf, P. Scherz, J. Schiffer, C. Schmidt, O. & W. Schmitz, B. P. & W. Schnell, J. L. Schönfeld, E. Schraetz, M. Schwarz, R. Seliger, H. W. Siebeneicher, F. & H. Sonnenburg W. J. S. & P. Sorg, A. Ssymank, H. Sticht, M. Weithmann, W. Wichard and H. Wolf. |
Claimants won't lose coverage over Ophelia claims | Irish customers who make claims in the wake of Storm Ophelia won't face a loss of coverage in the future, the head of the country's insurance trade association has said. It's too early to tell if premiums will rise as a result of storm claims, Insurance Ireland CEO Kevin Thompson told a radio show, noting that the Irish insurance market had seen itself through unforeseen events like Ophelia in the past. | https://www.irishtimes.com/business/financial-services/too-early-to-say-if-insurance-premiums-will-rise-after-ophelia-1.3258983 | 2017-10-17 17:20:19.610000 | Kevin Thompson, chief executive of Insurance Ireland said it was “too early” to comment on whether insurance premiums would rise after Storm Ophelia. Photograph: Dara Mac Donaill/The Irish Times
It's too early to say whether insurance premiums will rise after claims made on the back of Storm Ophelia, Insurance Ireland has said.
Speaking on RTÉ's Morning Ireland radio show, Insurance Ireland chief executive Kevin Thompson was asked whether consumers could expect a rise in insurance premiums after the cost of Storm Ophelia is counted.
Mr Thompson said that it was “too early to say”, noting that the industry had been able to cope with losses in the past and would be able to do so in the future.
Asked whether those who do make a claim will have trouble getting re-insured, Mr Thompson said “there is no blacklisting in relation to insured events”.
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Yesterday, FBD chief executive Fiona Muldoon said "while it is too soon to give an estimate of the ultimate net cost of the storm to FBD, unfortunately given its severity, we can be sure that a number of our customers are affected".
An Insurance Ireland spokesman told The Irish Times on Monday that it would be Tuesday before insurers would be in a position to start assessing damage and how much of that is likely to end up in claims. |
London flat sales drop by half as buyers wait for lower prices | London flat sales volumes have slumped by almost half in the past year as first-time buyers held off purchasing until prices fall further, according to research from estate agent James Pendleton. Sales slid to 2,494 in July from 4,709 a year earlier, it said. Other property types suffered smaller declines, with detached properties sales dropping 5% and semi-detached sales slipping 1%. In the same period, sale prices mainly edged higher: flats were 2% dearer, terraces rose 3%, semis gained 13% and detached houses fell 5%. | https://www.propertywire.com/news/uk/flat-sales-drop-london-first-time-buyers-wait-prices-come/ | 2017-10-17 15:18:11.903000 | Sales of flats across London have collapsed 47% in just a year with first time buyers in particular waiting to see if pries come down, new research suggests.
It is a result of the London market being overvalued for at least three years with the number of sales falling from 4,709 in July 2016 to just 2,494 in July this year, according to the report from independent estate agents James Pendleton.
The research also shows that sale of other types of property also fell but not so severely. The number of detached properties sold fell 5% in 12 months to 143 in July this year, semi-detached sales were down 1% to 516 and sales of terraced houses down 8% to 1,476.
Over the same period sale prices of flats crept up 2%, terraces rose 3%, semis gained 13% and detached houses fell 5%. In the previous month, June 2017, sales of flats were 43% down on June 2016, potentially pointing to a market that is prone to a well-overdue correction in prices.
It comes despite latest figures revealing first time buyers in London borrowed 8% more in the second quarter of 2017 compared with the previous year and the report suggests this points to fewer first-time buyers at the bottom end of the market being able to transact at all, while those in a better financial position continued to buy further up the ladder with many taking advantage of the Help To Buy scheme.
Despite a persistent housing crisis in the capital, the firm believes that many first time buyers believe prices are simply too high and are unable or unwilling to meet such steep valuations even in a cheap lending environment.
‘This a classic sign that first time buyer demand is sensitive. There is a temptation to wait on the side lines while prices become more realistic. When that happens it can only be a good thing, because housing markets are most stable when transactions are healthy across the board,’ said Lucy Pendleton, director of James Pendleton,
‘A reality check is in the offing after such strong growth in London and the scale of this drop in sales of flats tells me it is now more likely to be inevitable. Solid numbers of people are showing some reluctance at current prices and signalling to all the other market participants they can’t transact unless they come back down,’ she added. |
Amazon builds Alexa into a pair of glasses | Amazon is developing a pair of smart glasses, featuring the company's voice assistant Alexa. The glasses are the first wearable product Amazon has developed, and will use bone conduction, instead of speakers or headphones, to transmit Alexa's voice to users. Google Glass founder Babak Parviz, who was hired by Amazon in 2014, is reportedly working on the project. The glasses may arrive this year alongside an updated and expanded line of Echo products, according to the Financial Times. | https://www.theverge.com/2017/9/20/16337854/amazon-alexa-glasses-security-camera-rumor | 2017-10-17 14:42:22.267000 | Amazon's first wearable device will be a pair of smart glasses with the Alexa voice assistant built in, according to a report in the Financial Times. The device will reportedly look like a regular pair of glasses and use bone-conduction technology so that the user can hear Alexa without the need for earphones or conventional speakers. It won't, however, likely have a screen or camera, although Google Glass founder Babak Parviz has apparently been working on the project following his hiring by Amazon in 2014.
The FT report also says that Amazon is working on a home security camera separate from its ever-expanding lineup of Echo devices; the product that ultimately turned out to be the Echo Look was widely assumed to be a more conventional security camera when it first leaked. Amazon's Echo Show already lets you view the feed from other security cameras, a feature naturally pegged for the company's own upcoming model. |
Gates Foundation release open-source financial services software | The Bill and Melinda Gates Foundation has launched open-source software called Mojaloop for establishing payment platforms to extend access to digital financial products and services. The software will be a blueprint for developers to adapt for free for financial institutions’ use, resolving issues of interoperability. According to the World Bank, almost two billion people based in developing economies do not have bank accounts, leaving their finances at risk. Digital financial services have enabled access for users in remote or disadvantaged areas, but progress has been impeded by interoperability problems between payment platforms and digital financial services. | https://www.gatesfoundation.org/Media-Center/Press-Releases/2017/10/Bill-Melinda-Gates-Foundation-Releases-Open-Source-Software-to-Expand-Access-to-Financial-Services | 2017-10-17 14:29:08.863000 | SEATTLE, Oct. 16, 2017 – The Bill & Melinda Gates Foundation today released a new open-source software for creating payment platforms that will help unbanked people around the world access digital financial services. The software is designed to provide a reference model for payment interoperability between banks and other providers across a country’s economy. It is available now, free-of-cost, for software developers to adapt and banks, financial service providers and companies to implement. Information on the code can be found at mojaloop.io.
Current data from the World Bank shows that nearly two billion people in developing economies lack bank accounts and miss out on the benefits and security that basic financial services provide. Digital financial services, such as mobile money on cell phones, have rapidly expanded over the last two decades because they are convenient for users and cost-effective for companies aiming to serve new markets. In Kenya, an estimated 194,000 households have moved out of extreme poverty due in part to their access to M-Pesa, a mobile money platform, and users’ ability to save money more effectively. Digital financial services are now available in nearly 100 countries according to GSMA, an organization representing mobile network operators. However, global expansion of these services—especially to the world’s poor—has been hampered, in large part, by a lack of interoperability between digital financial services and payment platforms.
The new software, called Mojaloop, establishes a blueprint for connecting today’s financial services sector, and can be used as a solution to barriers that banks and providers seeking interoperability have traditionally faced. Delivering financial services to the poor is prohibitively challenging for many businesses because they struggle to invest adequately in complex technology while maintaining a commitment to low-cost, inclusive services. This has led to a prevalence of consumer payment options that are out of reach for many people in developing economies, or which limit customers’ ability to transact across products, banks and borders. These and similar challenges have dissuaded many companies from expanding into developing markets altogether.
Mojaloop can be used by financial institutions and commercial providers, to simplify and reduce the cost of developing inclusive payment platforms. It was designed to serve ultimately as a model for national payment switching systems that, for example, enable an individual’s digital wallet to connect with her employer’s bank account and her children’s school account to complete monthly transactions. The code can also be applied to adapt and improve existing services.
“Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution that can apply to any service, and we invite banks and the payments industry to explore and test this tool,” said Kosta Peric, Deputy Director, Financial Services for the Poor, at the Gates Foundation. “Just as the internet revolutionized digital communication, open-source solutions like Mojaloop can spark innovation and democratize access to digital payments, empowering billions of new customers and driving massive economic growth in developing markets.”
Mojaloop (building off the Swahili word “moja,” which means “one”) was created in partnership with fintech developers Ripple, Dwolla, ModusBox, Crosslake Technologies and Software Group, using cutting-edge technology such as the Interledger Protocol, a solution for settling funds among multiple providers across their individual systems. It joins other promising digital financial software, but is the first model that can help extend interoperability from mobile money providers to any bank, merchant or government institution in a customer’s economy in a way that specifically meets the needs of the poor.
“Interoperability is necessary both for financial inclusion and market maturity, but it is a complex thing to achieve,” said Benno Ndulu, Governor of the Bank of Tanzania, the country’s national bank. “We are excited to explore implementation of this because of how it can simplify that capability for businesses and governments, and speed up access to financial services.”
“As we modernize and develop national and cross-border payments infrastructure in Africa, the only way to sustainably reach and serve the world’s unbanked communities is through new technologies,” said Chris Hamilton, CEO of BankservAfrica. “Our aim as an organization is to offer national payments platforms for the next generation of financial innovators and Mojaloop gives us some tantalizing new options for doing that in a way that integrates with the entire national economy.”
Developers can access the new software on GitHub, the world’s leading open-source development platform. It includes four components: an interoperability layer, which connects bank accounts, mobile money wallets, and merchants in an open loop; a directory service layer, which navigates the different methods that providers use to identify accounts on each side of a transaction; a transactions settlement layer, which makes payments instant and irrevocable; and, components which protect against fraud. The software will not be owned or implemented by the Gates Foundation. It will be used in the foundation’s ongoing work to promote the development of pro-poor, digital payment platforms.
Mojaloop was created by the Gates Foundation’s Level One Project, which is aimed at leveling the economic playing field by crowding in expertise and resources to build inclusive payment models to benefit the world’s poor. Alongside Mojaloop’s development, the project also brought together four mobile systems companies—Ericsson, Huawei, Telepin, and Mahindra Comviva—to develop an Open API for mobile money interoperability. These APIs will allow mobile money providers to integrate seamlessly with Mojaloop and products built from it.
“In order to achieve the full potential of mobile money, we must evolve today’s complex and often fragmented digital payments ecosystem,” said Mr. Shi Yaohong, President of Software Product Line at Huawei. “I look forward to exploring opportunities to leverage Mojaloop to help us achieve our goal of bringing digital financial services to all poor and low-income customers.”
For technical documentation and to contribute and use the Mojaloop software, visit github.com/leveloneproject. For more information on the Level One Project, visit leveloneproject.org.
About the Bill & Melinda Gates Foundation
Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Sue Desmond-Hellmann and Co-chair William H. Gates Sr., under the direction of Bill and Melinda Gates and Warren Buffett.
Media Contact: [email protected]
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Snap, NBCUniversal to produce scripted shows for mobile platforms | Snapchat’s parent company Snap and broadcaster NBCUniversal are joining forces to establish a Hollywood studio focused on app-based entertainment. The studio will create scripted programmes such as short-form dramas and comedies for mobile platforms. The joint venture has already agreed a deal with Mark and Jay Duplass, two independent filmmakers. NBC Entertainment’s senior VP of current programming Lauren Anderson will be the chief content officer of the new unit, which will be based in Santa Monica.
| http://variety.com/2017/digital/news/snap-nbcuniversal-studio-venture-duplass-brothers-shows-1202591040/ | 2017-10-17 14:27:19.647000 | Snap and NBCUniversal are creating a Hollywood studio dedicated to the future of app-centric entertainment.
Snap, Snapchat’s parent company, is teaming with NBCUniversal to bring scripted programming — like short-form comedies and dramas — to mobile screens. The companies have established a studio joint venture to produce programming exclusively for the social-messaging and media platform. The new JV will work with a handful of creative partners, signing their first deal with indie filmmakers Mark and Jay Duplass.
The studio, 50-50 owned by Snap and NBCU, marks a bet by both parties that entertainment for mobile platforms requires a different way of producing content — one they believe traditional Hollywood studios aren’t equipped to do.
“We fundamentally believe that mobile is a new medium,” said Sean Mills, Snap’s head of content. “Because that creative process is so unique, we felt there was a need for a fully dedicated entity focused on that.”
The companies have recruited Lauren Anderson, who has served as NBC Entertainment’s senior VP of current programming, to be the JV’s chief content officer. “Lauren was a great get for us,” said Mills, who has worked with Anderson on the NBC shows created for Snapchat. “She has tremendous experience, and instantly got what we were going for.”
The new studio — which doesn’t have a name yet — will be overseen by Mills and and Maggie Suniewick, president of NBCUniversal Digital Enterprises.
Over the past year, Snapchat has worked with NBC as well as other networks and media companies to produce original, short-form shows for its platform. Those have included NBC News’ “Stay Tuned,” E!’s “The Rundown,” and NBC’s offshoot of “The Voice” on Snapchat — which garnered an Emmy nomination.
For NBCU, the high level of engagement of Snapchat’s audience on the shows it has produced convinced the media company to go forward with the plan to form a scripted-programming studio, Suniewick said. For the second quarter, Snapchat had an average of 173 million active daily users.
“This is really about figuring out what resonates on the platform,” Suniewick said.
Another reason NBCU is throwing in with Snap: The app maker, unlike Facebook and other digital platforms, lets the media company sell advertising against the content it distributes on Snapchat.
The new studio will be housed in a separate office in Santa Monica, close to Snap’s headquarters in Venice and NBC Entertainment’s in Burbank, Calif.
The formation of the studio joint venture comes after NBCU invested $500 million in Snap earlier this year as part of Snap’s initial public offering. Suniewick said the amount NBCU is investing in the studio JV is separate from that. The companies declined to disclose the level of investment in the JV, or how many staffers they expect to bring on board under Anderson’s purview.
Meanwhile, Snap is continuing to work with partners on scripted programming. Those include Time Warner, which pacted to develop and produce up to 10 shows per year for Snapchat from across its divisions, including those with scripted drama and comedy formats.
The Duplass brothers, among other projects, are co-creators of the HBO original series “Room 104” and “Togetherness” and inked a four-movie deal with Netflix two years ago.
For Snapchat, Mark Duplass said he and his brother have about a half-dozen concepts for scripted and unscripted shows, including comedy, drama, horror and documentary genres. The deal with NBCU and Snap doesn’t specify a total number of series or amount of content the Duplass brothers will produce. They’re targeting 8-10 minutes per episode, with the first series to debut in 2018.
“We’re definitely thinking about their user base, what would appeal to their core group of users, who are essentially millennials,” Mark Duplass told Variety. “If we make one show and it’s really doing well, we might just stick with that – and do 100 episodes of that show.”
As to what the shows will be about, Snap and NBCU “are wildly trusting,” said Mark. “They let us know in no uncertain terms, ‘You go be you.'” The Snapchat shows will come out of the Duplass Bros. Productions’ Donut shingle, an in-house branded-content agency the duo set up this year.
In general, Mark Duplass said, he has concerns about producing content for digital and mobile platforms: “There’s just too much shit,” he explained. “If we’re going to do something, I hope it’s additive – and it’s something people will come to watch.”
The Snap-NBCU offer was attractive because they gave the Duplass brothers assurances that their work would be featured as part of a select group of creators. “They said, ‘We’re going to work with only a few partners, we’re not going to buy 1,000 shows. We’re going to put you front and center,'” Mark Duplass said.
The interesting challenge in producing Snapchat shows will be shooting in the vertical-frame format, he added: “It’s an exciting process of discovery: How do I use this frame in an interesting way to tell a story?”
Snapchat has focused on creating an artificial-scarcity model when it comes to shows, and the new studio is following suit. Instead of opening up the platform to any and all comers, as YouTube and Facebook do, it has cut deals with a limited set of media partners.
“It’s not about licensing things that are being shopped out there,” said Snap’s Mills.
So far, the roster of companies producing Snapchat shows include NBC, ESPN, the NFL, ABC, BBC, A+E Networks, Discovery Networks, Turner, Scripps Networks, Vertical Networks, Vice, MGM Television, and CBS. |
Mayo Clinic offers medical advice through Amazon Echo - Velocity Alert | Owners of Amazon Alexa-enabled devices, such as the Echo, may now use them to seek basic health information and advice. Users that have downloaded the Mayo Clinic First Aid app can voice their concerns to Alexa and receive immediate answers to everyday health issues and other self-care instructions. However, the Mayo Clinic, a multi-state US healthcare provider, has cautioned that the app should not be used in emergency situations and does not replace traditional medical care. | http://www.mobihealthnews.com/content/amazons-alexa-now-offers-health-advice-mayo-clinic?utm_source=The+Medical+Futurist+Newsletter&utm_campaign=b80188b3f2-Newsletter_2014_07_177_17_2014&utm_medium=email&utm_term=0_efd6a3cd08-b80188b3f2-420576665 | 2017-10-17 13:45:08.640000 | Basic health information and advice provided by the Mayo Clinic is now available on Amazon Alexa-enabled devices. Owners who have downloaded the Mayo Clinic First Aid skill (Amazon’s version of apps) need only voice their concerns to receive answers to dozens of everyday health issues or other self-care instructions.
“Mayo Clinic produces trusted, evidence-based health guidance to empower people to effectively manage their health,” Dr. Sandhya Pruthi, general internal medicine physician and associate medical director at Mayo Clinic Global Business Solutions, said in a statement. “This is the first health guidance skill Mayo Clinic has developed and launched for Amazon Alexa. Voice-enabled experience is a new and growing channel for reaching people and delivering information they are seeking, whether or not they have an existing relationship with Mayo Clinic.”
Users may open the voice-driven platform to access and browse a listing of common health topics. Otherwise, vocally addressing Alexa with the name of the skill and a specific question will prompt a spoken response from the device.
The Mayo Clinic First-Aid skill does not replace medical care and should not be used in emergency situations, the provider cautions. It joins the clinic’s other Amazon Alexa service, Mayo Clinic News Network, which offers listeners a 60-second daily presentation with easy-to-understand health tips.
But the Mayo Clinic is not the only provider of health info in the Amazon Alexa ecosystem. This March, WebMD launched their own integration with the platform to provide users information on a range of health-related topics such as conditions, medication, tests, and treatments. Users of the WebMD skill can have the information read to them aloud, or sent as text to their Alexa app.
"There are a number of reasons that voice-enabled interfaces are growing in popularity — they are generally hands-free, people can talk faster than they type, and when done right, they make it easier for consumers to quickly and easily get to the information they need,” WebMD Vice President Ben Greenberg, whose product team developed the new voice capabilities, said in a statement accompanying the launch.
Other voice-assisted health services available on Amazon Alexa include Fitbit integration, Boston Children’s Hospital’s KidsMD skill, and Healthtap’s Doctor AI diagnosis tool. |
Redrow Leeds housing plan for 241 homes looks set for approval | Approval may be granted for a housing plan that has garnered more than 280 written objections. The proposal, submitted by house builders Redrow Homes and Stocks Bros, is for the redevelopment of the former Stocks Blocks location in Garforth village, near Leeds into 241 houses on a 22-acre site. Concerns have been raised that the development will worsen existing flooding problems and increase traffic locally. The house builders have said the development will use a brownfield site and would provide a “high level” of amenity for residents. The application has been recommended for approval by the chief planning officer.
| https://www.insidermedia.com/insider/yorkshire/leeds-241-home-plans-recommended-for-approval-despite-objections | 2017-10-17 12:28:15.957000 | Yorkshire Property Joshua Hammond
A housing plan that generated in excess of 280 written objections looks set to be approved this week after the application was recommended for approval by the chief planning officer.
Plans submitted by Stocks Bros and Redrow Homes (Yorkshire) envisage the redevelopment of the former Stocks Blocks site in Garforth village. The plans would redevelop the land into a total of 241 homes.
The 22.2-acre site was used for the manufacture of aggregate and masonry blocks until the operation closed and was relocated to a £12m state-of-the-art facility in Cross Green.
The site would feature 29 two-bed, 79 three-bed and 118 four-bed homes as well as four one-bed and 11 two-bedroom flats.
Of those, a total of 36 units are identified as affordable units; 12 of the two-bed houses, 15 of the three-bed houses, three of the one-bed flats and six of the two-bed flats.
Objections from 282 local residents and interested parties, including the Garforth Flood Group and local Labour branch, have been received raising a number of issues.
Key concerns included the development making existing flooding issues worse, adding to existing traffic congestion and a lack of sufficient public transport.
The report of the chief planning officer, said: "It is considered the proposed development would positively contribute to the city’s overall housing requirements and bring back into active use a brownfield site which is located in a sustainable location.
"The detailed design of the development is considered appropriate and incorporates the best site features in terms of retention of the most important trees.
"The development would provide a high level of amenity for future residents without compromising the amenities of existing neighbouring residents and appropriate measures are included to ensure the highway impact of the development is acceptable.
It added: "The proposals are considered to comply with relevant policies in the Development Plan and other relevant planning guidance, as listed above and with the National Planning Policy Framework.
"It is therefore recommended that the application is approved, subject to the conditions suggested above and completion of a legal agreement covering the planning obligations detailed at the start of this report." |
Airbnb will invest $1 million in community-led projects in Africa | Airbnb will invest $1m over the next three years in community tourism projects in Africa, according to Chris Lehane, Airbnb's global head of public policy and public affairs. Beginning in 2018, Airbnb will expand its hospitality and technology programme into 15 townships across South Africa, and will broaden its Airbnb Experiences across the Western Cape. In addition, Lehane said the firm would help spread the benefits of tourism through the use of technology. In May 2018, Airbnb is set to host the Africa Travel Summit in Cape Town.
| http://www.itnewsafrica.com/2017/10/airbnb-commit-1-million-to-african-community-led-tourism-projects/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+itnewsafrica+%28ITNewsAfrica.com%29 | 2017-10-17 12:17:58.863000 | On Tuesday 17 October 2017 Airbnb announced that the company will invest $1 million through to 2020 in an effort to promote and support community-led tourism projects in Africa. The commitment is part of Airbnb’s vision to empower communities through home sharing and to promote people-to-people tourism that benefits local families and their communities.
The announcement was made by Chris Lehane, Airbnb Global Head of Public Policy and Public Affairs, at a press conference in Johannesburg South Africa, together with the Mayor of Johannesburg, Herman Mashaba, and Hermione Nevill, World Bank Group’ Senior Travel Specialist.
The investments will be put to work in 2018 and will focus on three main areas.
Empowering townships through hosting
As part of Airbnb’s belief that home sharing can support greater economic and social empowerment, Airbnb ran a pilot programme earlier this year, together with local partners, to support training in hospitality and technology for residents from townships across the Western Cape. Given its success, Airbnb will expand the programme, which is especially targeted at women and young people from underserved communities, to 15 more township communities across South Africa and scale the programme to other countries in Africa in 2019.
Promoting sustainable and inclusive tourism through technology
Airbnb’s vision is to use technology to help spread the benefits of tourism, previously kept in the hands of a few, to the many. In May 2018, Airbnb will host the ‘Africa Travel Summit’ and bring together 80 thought leaders from across the Continent, in Cape Town, to share best practices, exchange ideas and co-create a vision for how technology can best be used for inclusive and sustainable tourism growth. Potential attendees, such as governments, tourism boards, development agencies, technology companies, incubators and individuals, can apply to attend the Africa Travel Summit as of today through January 31, 2018. The University of Cape Town Graduate School of Business (UCT GSB) will serve as the Summit’s learning partner and organisations such as The World Bank Group (WBG), The United Nations World Travel Organisation (UNWTO) and The Cape Innovation and Technology Initiative (CiTi) will also take part in the event.
Supporting locals and nonprofits through Airbnb travel
As part of Airbnb’s vision to promote people-to-people travel that helps generate new revenue streams for more communities, Airbnb will expand the Airbnb Experiences offer across the Western Cape. This will help more locals to turn their passions into economic opportunities and showcase the best authentic experiences that guests might otherwise miss. Airbnb will particularly focus on increasing Social Impact Experiences – the proceeds of which go directly to a non-profit organization.
Chris Lehane, Global Head of Public Policy and Public Affairs for Airbnb, speaking on the commitment said, “Africa is home to some of the most welcoming communities and breathtaking landscapes on earth. By leveraging technology to boost people-to-people tourism in Africa, we can help build a new economic engine for local families and their communities, while helping more guests enjoy magical travel experiences through the eyes of locals. Airbnb travel is already delivering significant economic benefits for Africa and today’s investment will help kickstart new benefits for more people across Africa.”
Hermione Nevill, Senior Travel Specialist at the World Bank Group, said ‘’Tourism in Africa is expected to continue its rapid growth. It is vital to ensure this growth occurs sustainably and drives poverty reduction across the continent. It is encouraging to see travel technology platforms such as Airbnb investing in Africa, and piloting more inclusive forms of tourism growth.’’
By Dean Workman
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Microsoft announces cloud partnership with Symantec | Microsoft has announced a partnership between its Azure cloud network and cybersecurity provider Symantec. Under the deal, Symantec's Norton products will be made available to more than 50 million customers worldwide, and the company will also migrate its payment systems to Azure to make purchasing of its products easier. Microsoft is seeking to enhance its role as a provider of cloud services to businesses, and recently unveiled a range of new cloud-related features.
| http://www.ciodive.com/news/symantec-reduces-expenses-collaborates-with-microsoft/507386/ | 2017-10-17 11:59:49.787000 | Dive Brief:
Microsoft announced its cloud partnership with cybersecurity provider Symantec to bring its Norton products to more than 50 million international consumers, according to a company announcement on Monday.
Symantec is working towards hybrid cloud strategies and enlisting Microsoft's Azure cloud is meant to reduce Symantec's overall operational expenses. Thus far the security software provider has migrated 105 "critical consumer digital safety capabilities" to Azure. It has also set up real-time reports on finances, operations and adoption-related security.
Symantec will eventually move its e-commerce system to the Azure cloud to ease the purchase of Norton products online. There are also plans to implement Azure Container Services, ML and PaaS for Symantec's entire IT strategy and operations.
Dive Insight:
Microsoft is more than familiar provider for the enterprise and a major name adopting its technology is a notable feat. Symantec, known for its security software, has entrusted Microsoft in securing its operational and workload data.
As the second leading global cloud providers, Microsoft is pushing to be the place for enterprises' IT solutions. Last month Microsoft announced a slew of new features at Ignite including hybrid cloud offerings to ease migration efforts. Cloud-based security protocols were added to its platform including a reduction in workload management and anti-phishing solutions for Office 365.
Symantec is aware of the changing landscape of cybersecurity and the aggressive approaches needed to stay relevant and secure. In the midst of its security and reputational reinvention, Symantec's partnership with Microsoft is a clear feather in Azure's cap. |
Redrow Prime minister to demand that developers build on land they own | The prime minister, Theresa May, will request that developers construct homes on the land they own after data showed that the 10 largest house builders have over 400,000 untouched plots of land. May is hosting a summit for house builders and is expected to ask them to stop “landbanking”, or not developing plots of land that have already been granted planning permission. May is expected to discuss the housing crisis with developers, housing associations and council representatives, and has said she plans to fix the “broken” housing market by constructing more houses, releasing land and increasing support for the Help to Buy Scheme.
| http://www.dailymail.co.uk/news/article-4986934/Builders-sit-400-000-unused-plots.html | 2017-10-17 11:47:11.893000 | Theresa May will today demand that developers build homes on the land they own amid figures showing the ten biggest companies are sitting on more than 400,000 unused plots.
The Prime Minister will chair a summit with housebuilders at Downing Street to challenge them to construct more properties.
She is expected to raise the controversial practice of ‘landbanking’, which is blamed for hindering housebuilding as private companies sit on plots that have been granted planning permission.
A Government source said Mrs May would be ‘laying down a challenge’ to developers over the issue in a ‘robust but constructive way’.
Theresa May will today demand that developers build homes on the land they own amid figures showing the ten biggest companies are sitting on more than 400,000 unused plots
She will hold discussions on how to tackle the housing crisis with developers, councils and housing associations.
According to recent figures, the ten biggest developers have more than 400,000 plots earmarked for development, according to ousing charity Shelter.
Property developers are accused of sitting on the land while it rises in value before building on it.
But the House Building Federation, which represents the industry, said housebuilders do not make money from landbanking.
The Prime Minister has put housing at the centre of her strategy to win over the younger generation, who are struggling to get on to the housing ladder.
At her conference speech this year, she vowed to fix the ‘broken housing market’ by building more houses, ensuring councils release land and increasing investment in the Government’s Help to Buy scheme.
She also said she would give councils the powers to ensure developers ‘actually build homes once they’re given planning permission to do so’.
Today’s summit will also look at skill shortages in the construction industry and consider whether wider reforms of the planning system are needed.
Companies Persimmon, Taylor Wimpey, Barratt Group, Bellway, Redrow, Bovis, Berkeley Group, Galliford Try, Crest Nicholson and Countryside had a total of 404,040 plots in their current land bank, made up of land which has planning permission for housing or is close to getting it, according to Shelter.
This represents more than six years’ worth of housebuilding at their current build rate, the charity said.
It also estimated that the companies have 481,910 plots in their strategic landbank - land held by them and other organisations in the expectation they will get planning permission.
Companies Persimmon, Taylor Wimpey, Barratt Group, Bellway, Redrow, Bovis, Berkeley Group, Galliford Try, Crest Nicholson and Countryside had a total of 404,040 plots in their current land bank
All the FTSE 100-listed major housebuilders have increased their land bank stock on last year, according to their latest financial reports.
The last study by the Local Government Association (LGA) found there were nearly 500,000 plots in Britain which had planning permission but had not been built on.
Steve Turner, of the Home Builders Federation, denied that housebuilders didn’t make money from sitting on land.
‘Housebuilders do not make money from landbanking unnecessarily. Premises that are being landbanked are at various stages in the planning process,’ he said.
‘The planning process is extremely complex and in many cases it can take three to four years to get a sight to the point where builders can actually build.
‘As the industry looks to increase output, it needs a supply of housing. Builders do not make money from sitting on land.’ |
Natural solutions could cut carbon as much as ending oil use | Natural climate solutions, including planting forests, protecting carbon-storing peatlands and soil and grassland management, could account for 37% of all actions required by 2030 under the Paris Climate Accord, according to an international study. The research claims the combined effect of the “regreening of the planet” would be equivalent to ending all oil burning across the globe, and that nature management could avert the emission of 11.3 billion tonnes of CO2 a year by 2030. The estimates for the potential of such activities were up to 30% higher than those envisaged by a United Nations group of climate scientists in 2014. | https://www.theguardian.com/environment/2017/oct/17/regreening-the-planet-could-cut-as-much-carbon-as-halting-oil-use-report | 2017-10-17 11:34:36.057000 |
Planting forests and other activities that harness the power of nature could play a major role in limiting global warming under the 2015 Paris agreement, an international study showed on Monday.
Natural climate solutions, also including protection of carbon-storing peatlands and better management of soils and grasslands, could account for 37% of all actions needed by 2030 under the 195-nation Paris plan, it said.
Combined, the suggested “regreening of the planet” would be equivalent to halting all burning of oil worldwide, it said.
“Better stewardship of the land could have a bigger role in fighting climate change than previously thought,” the international team of scientists said of findings published in the US journal Proceedings of the National Academy of Sciences.
The estimates for nature’s potential, led by planting forests, were up to 30% higher than those envisaged by a UN panel of climate scientists in a 2014 report, it said.
Trees soak up heat-trapping carbon dioxide as they grow and release it when they burn or rot. That makes forests, from the Amazon to Siberia, vast natural stores of greenhouse gases.
Overall, better management of nature could avert 11.3bn tonnes of carbon dioxide emissions a year by 2030, the study said, equivalent to China’s current carbon dioxide emissions from fossil fuel use.
The Paris climate agreement, weakened by US president Donald Trump’s decision in June to pull out, seeks to limit a rise in global temperature to “well below” 2C above pre-industrial times.
Current government pledges to cut emissions are too weak to achieve the 2C goal, meant to avert more droughts, more powerful storms, downpours and heat waves.
“Fortunately, this research shows we have a huge opportunity to reshape our food and land use systems,” Paul Polman, CEO of Unilever, said in a statement of Monday’s findings.
Climate change could jeopardise production of crops such as corn, wheat, rice and soy even as a rising global population will raise demand, he said.
The study said that some of the measures would cost $10 a tonne or less to avert a tonne of carbon dioxide, with others up to $100 a tonne to qualify as “cost-effective” by 2030.
“If we are serious about climate change, then we are going to have to get serious about investing in nature,” said Mark Tercek, chief executive officer of The Nature Conservancy, which led the study. |
‘Tens of thousands’ living in slavery in UK | The number of people in the UK living in slavery is in the tens of thousands, according to the anti-trafficking commissioner. Speaking after the publication of his annual anti-slavery report, Kevin Hyland said that the number was far higher the previous estimate of 13,000. Hyland also said that progress was being made in tackling the issue, with England and Wales seeing a 159% increase in recorded offences last year. This week, the Church of England is launching an initiative, backed by the prime minister and the archbishop of Canterbury, through which parishes aim to identify slavery and support victims.
| https://www.theguardian.com/global-development/2017/oct/17/true-scale-of-uk-slavery-tens-of-thousands-of-victims-kevin-hyland | 2017-10-17 11:16:30.920000 | The number of people living in slavery in the UK is likely to be considerably higher than the current estimate of 13,000, according to the independent anti-trafficking commissioner, Kevin Hyland, who has claimed that the “true number is in the tens of thousands”.
Speaking to the Guardian, Hyland said that a better understanding of the real scale of slavery in the UK must become an “absolute priority” for government, if there was a chance of reaching as many potential victims as possible.
“The 13,000 figure is based on old intelligence and we’ve come a long way since then in terms of our understanding of the real scale of the problem we’re facing,” he said. “We know now that slavery here in the UK is far more prevalent than we have ever realised, and building a better response needs to be an absolute priority both domestically and globally.”
The anti-slavery commissioner said that victims are currently being failed by the national referral mechanism (NRM), which was introduced in 2009 to identify cases of slavery and trafficking.
“The NRM is a system designed to deal with hundreds not thousands of victims and needs to be more flexible and accountable,” said Hyland. “At the moment all of the emphasis is on identification but victim support must be at the heart of this process if we are to get people to trust us in coming forward and reporting these crimes.”
However, speaking after the publication on Monday of his annual anti-slavery report (pdf), Hyland pointed out that real progress has been made in tackling slavery crimes. The UK recorded 2,255 modern slavery offences across England and Wales last year, a 159% increase from the previous year.
Hyland – who formerly headed the Metropolitan police’s human trafficking unit and criticised the UK police’s poor efforts to report modern slavery offences last year – was “particularly pleased” by Northern Ireland’s efforts to combat slavery, which has passed on all slavery offences to the referral mechanism for the second year running.
The Met alone this year recorded more than double the number of offences of the previous year, amounting to nearly 500 crimes of modern slavery, the highest figure by far in any police force in the UK.
West Midlands recorded the second highest number of offences this year (215), followed by Kent and Essex (179), West Yorkshire (147) and Greater Manchester (139).
Detective chief inspector Phil Brewer of the Met’s modern slavery and kidnap unit said the increase in offences and referrals was down to clearer pathways for victims to seek help and protection; greater awareness among officers, as well as the public, at recognising potential victims; and better cooperation between agencies at referring potential leads.
More than half of all suspected victims referred to the national mechanism in 2016 were from Albania, Vietnam, the UK, Nigeria and China. The majority of child trafficking victims identified were British citizens. This week, the Church of England is also mobilising its parishes to be the “eyes and ears” of local communities to identify signs of modern slavery and to support its victims in an initiative backed by the prime minister and archbishop of Canterbury.
The three-year project, launched at Lambeth Palace on Tuesday, is called the Clewer Initiative after an order of Anglican nuns funding the project: they were founded in the 19th century to help vulnerable young women.
Ten C of E dioceses have signed up to the initiative, with a further 14 expected to participate by the end of the year. It is hoped that all 42 dioceses will take part. The project will provide training and information on how to spot signs of slavery and victims of labour exploitation in areas including construction and car washing.
Hyland said faith groups had “influence, insight and rare avenues into the community – they are therefore a powerful tool in the fight against modern slavery”. |
Venmo rolls out cashless payments by app at millions of US stores | More than two million US high street retailers are set to accept Venmo digital payments, in a move mirroring the launch of One Touch by parent PayPal. No "additional integration work" on participating merchants' terminals was needed for the roll-out, PayPal COO Bill Ready said, while tests were being undertaken to allow customers to pay either with Venmo or PayPal, using a choice of "dynamically painted" buttons. "Our vision for Venmo is to not only be the go-to app for payments between friends, but also a ubiquitous digital wallet," Ready said.
| https://www.finextra.com/newsarticle/31209/venmo-comes-to-the-high-street | 2017-10-17 11:05:24.543000 | PayPal has announced that Venmo users will be able to use the popular mobile app at more than two million US high street retailers.
A big hit with American teens, PayPal believes that Venmo integration at merchants terminals will present new opportunities for retailers to follow the app's social feed, where users share shopping tips with their friends, and tap into the purchasing power of the millennial generation.
In a blog post signalling the move, PayPal COO Bill Ready says: "The investments we’ve made in our platform architecture allow us to enable Venmo as a payment method for millions of PayPal merchants at one time without any additional integration work on the merchant’s part, mirroring the approach we used to successfully launch One Touch."
To avoid confusion at the checkout, PayPal is testing the ability for merchants to offer dynamically-painted payment buttons, which will show Venmo customers a custom dual-branded button that allows selection between PayPal or Venmo payment options.
Says Ready: "Our vision for Venmo is to not only be the go-to app for payments between friends, but also a ubiquitous digital wallet that helps consumers spend wherever and however they want to pay, regardless of device." |
UK government encourages investment in AI | The UK government has recommended increasing investment in artificial intelligence (AI), stating that the new technology can offer "massive gains" in the efficiency and performance of most industrial sectors. A report published jointly by the Department for Business, Energy and Industrial Strategy and the Department for Digital, Culture, Media and Sport recommends the creation of "data trusts" to enable easier sharing of data, and the creation of new university and vocational courses to strengthen research and development of AI technology and applications.
| https://www.technologyreview.com/the-download/609148/keep-calm-and-massively-increase-investment-in-artificial-intelligence/ | 2017-10-17 10:59:22.747000 | The U.K. government has just released a thoughtful report on the potential of AI, along with some jolly sensible recommendations for making the most of the profoundly important technology.
The report, coauthored by the Department for Digital, Culture, Media & Sport and the Department for Business, Energy & Industrial Strategy, concludes that “AI offers massive gains in efficiency and performance to most or all industry sectors, from drug discovery to logistics.”
The technology “can be integrated into existing processes, improving them, scaling them, and reducing their costs, by making or suggesting more accurate decisions through better use of information,” it adds. And this could add a whopping $814 billion to the U.K. economy by 2035.
To benefit from the AI boom, it says, the U.K. should develop “data trusts” so that data can be shared more easily and securely, and it should make research data more accessible to machines. The report also suggests that the U.K. invest heavily in AI education by creating new university and vocational courses, and by creating an AI fellowship program to encourage people from other countries to study in Britain. Here’s an executive summary (pdf) of the document, and here’s the full report (pdf).
It makes a lot of sense to think about the potential economic effects of AI. Governments badly need to be considering the impact of AI and automation on jobs, including the safety risks, and thinking hard about how to realize the technology’s potential to boost economic productivity.
The recommendations of the U.K. report bring to mind the massive commitment China is making in AI (for an in-depth discussion of this, check out our feature “China’s AI Awakening”). Other countries—including the U.S.—would be wise to ramp up their own investments if they don’t want to get left behind by the boom. |
Data centre REITs post 30% returns amid surging digital demand | Real estate investment in the US data storage sector reportedly surged to $18.2bn in the first half of 2017 -- more than double all of last year. That helped spur returns of 30% in the past 12 months on the stock of real estate investment trusts (REITs) that specialise in data centres, compared with 6% for the wider REIT market. Companies in the sector are investing heavily in new facilities, with demand for digital storage being driven by increases in cloud computing, e-commerce and other data-reliant technologies.
| http://www.nreionline.com/alternative-properties/data-center-reits-will-continue-deliver-outsized-returns-experts-predict | 2017-10-17 10:43:36.270000 | Afghanistan Aland Islands Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Bouvet Island Brazil British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Caribbean Netherlands Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos (Keeling) Islands Colombia Comoros Congo (Brazzaville) Congo (Kinshasa) Cook Islands Costa Rica Croatia Cuba Curaçao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong, S.A.R., China Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau, S.A.R., China Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands Netherlands Antilles New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island Northern Mariana Islands North Korea Norway Oman Pakistan Palau Palestinian Territory Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Barthélemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin (French part) Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syria Taiwan, China Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu U.S. Virgin Islands Uganda Ukraine United Arab Emirates United Kingdom United States United States Minor Outlying Islands Uruguay Uzbekistan Vanuatu Vatican Venezuela Vietnam Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe |
PBoC complete trial of digital currency supply algorithms | The People's Bank of China (PBOC) has successfully completed a trial of algorithms needed for digital currency supply. China's central bank has designed a prototype that can regulate the money supply, paving the way for PBOC to be the future sole regulator governing the value of digital fiat currency, said Yao Qian, director-general of the Institute of Digital Money at the PBOC. China has no timetable for the introduction of the currency. | http://www.chinadaily.com.cn/business/2017-10/14/content_33235955.htm | 2017-10-17 09:55:45.167000 | The People's Bank of China (PBOC) is seen in this photo taken on June 12 in Beijing. [Photo/Xinhua]
The People's Bank of China, China's central bank, has completed trial runs on the algorithms needed for digital currency supply, taking it a step closer to addressing the technological challenges associated with digital currencies, according to a top official associated with the project.
Yao Qian, director-general of the Institute of Digital Money at the PBOC, said China's central bank has successfully designed a prototype that can regulate the supply of its future digital fiat currency.
The successful simulation of money supply paves the way for the central bank to become the future sole regulator and policymaker governing the value of digital fiat currency, said Yao.
Digital fiat currencies are the digital forms of a sovereign currency that is backed by the central bank.
Unlike Bitcoin or other digital money issued by the private sector, the digital fiat currency has the same legal status as the Chinese yuan, the only fiat currency issued by the People's Bank of China.
There is no timetable for the introduction of the currency, but once introduced, China is likely to become the first country that would deploy a digital fiat currency.
China's central bank has been actively preparing for digital fiat currencies since last year.
Earlier in June, the central bank finished several digital money trials involving fake transactions between it and some of the country's commercial banks.
"China has been at the forefront in digital payment technology development," said Di Gang, a senior engineer of the institute.
"However, it would still be some time before the currency goes public," said Di, adding that, "the central bank is proceeding very cautiously."
Apart from solving the technology challenges, there are a number of other concerns that are yet to be solved such as managing risks and improving efficiency, according to Di.
The government also needs to factor whether the public would use the new currency, he added.
"The central bank might be able to start trials in some developed regions such as Beijing, Shanghai and Guangdong province, and see how citizens respond to the digital currency," he said.
The development of a digital currency comes at an opportune time for China, said Yao.
The rapid development of the electronic payment sector and thriving private digital currencies have made it imperative for China's central bank to move quickly in digital finance.
Looking ahead, deploying the digital fiat currency is expected to be smarter and more intelligent compared to the payment providers using existing currencies, such as Alipay, according to Yao. |
Parliamentary committee to investigate private rented sector | The UK communities and local government committee has begun an inquiry into how local authorities deal with rogue landlords in the private rented sector (PRS). The inquiry will focus on whether local authorities have the powers required to enforce high standards, the effectiveness of complaint mechanisms for tenants and what obstacles prevent effective PRS intervention. In 2016, one in five households were in the PRS, with 70% of tenants aged under 40. The deadline for inquiry submissions is noon, 24 November.
| https://www.propertywire.com/news/uk/parliamentary-committee-launches-inquiry-uk-private-rented-sector/ | 2017-10-17 09:48:56.813000 | A British Parliamentary Committee has launched an inquiry into the role of local authorities in dealing with rogue landlords in the Private Rented Sector (PRS).
The Communities and Local Government Committee decided to look at whether councils have enough clout to deal with bad practices in the PRS as more and more people are now renting homes.
The inquiry will also examine barriers to intervention in the PRS, whether landlord licensing schemes are promoting higher quality accommodation and the effectiveness of complaint mechanism for tenants.
‘With a big rise in the number of people renting over the last decade, there are real concerns about the ability of local authorities to protect tenants by tackling bad landlords and practices,’ said the committee chairman, MP Clive Betts.
‘Our inquiry will examine how local authorities can carry out enforcement work to deal with rogue landlords as well as looking at approaches used by councils to provide private rented accommodation in their areas,’ he added.
The PRS has grown from one in 10 households in 2004 to one in five households in 2016 with the under 40s making up 70% of households. The closing date for submissions to the inquiry is Friday 24 November 2017 at midday.
The inquiry follows on from a committee report published in 2013 which highlighted five key areas in which the Government should take action including reviewing and simplifying the legislation covering the sector, giving local authorities the tools they need to enforce the law and raise standards, better regulation of letting agents, a cultural shift towards longer tenancies and a renewed effort to boost housing supply.
Local authorities are set to be granted new powers to seek banning orders against rogue landlords and agents and other changes being introduced by the Government include a ban on letting fees.
The Association of Residential Letting Agents (ARLA) welcomed the inquiry as a great opportunity to review enforcement in the PRS. ‘With what appears to be a coherent strategy on the regulation of the PRS coming from the Government, it is an ideal time to review what has worked and what hasn’t,’ said chief executive David Cox.
In particular the inquiry will look at whether local authorities have the powers and capacity required to enforce standards and deal with rogue landlords and seek to find out what the main obstacles are to effective intervention in the PRS.
It will also look at how effective landlord licensing schemes are in promoting higher quality accommodation, what approaches local authorities have taken to promote affordable private rented sector accommodation in their areas and the effectiveness of complaint mechanisms for tenants. |
Biotech, pharma shares drop after Trump says ‘drug prices are out of control’ | President Donald Trump is criticizing high drug prices again, sending health-care stocks lower Monday. The iShares Nasdaq Biotech ETF erased its gains for the day after Trump's comments, which were released around 11:50 a.m. EDT.
| https://www.cnbc.com/2017/10/16/biotech-pharma-shares-drop-after-trump-says-drug-prices-are-out-of-control.html | 2017-10-17 09:38:07.993000 | President Donald Trump speaks during a cabinet meeting at the White House, Monday, Oct. 16, 2017, in Washington.
President Donald Trump is criticizing high drug prices again, sending health-care stocks lower Monday.
The iShares Nasdaq Biotech ETF erased its gains for the day after Trump's comments, which were released around 11:50 a.m. EDT.
iShares Nasdaq Biotech ETF intraday chart
Source: FactSet
Pharmaceutical company shares such as Pfizer , Merck and Eli Lilly also dropped slightly after the remarks.
"Prescription drug prices are out of control," Trump said in a Cabinet meeting on Monday. "The drug prices have gone through the roof."
"You look at the same exact drug by the same exact company, made in the same exact box and sold some place else, sometimes it's a fraction of what we pay in this country. Meaning as usual the world is taking advantage of the United States."
Trump said American consumers are paying multiples of what other countries are paying for the same drugs.
"The drug companies frankly are getting away with murder. We want to bring our prices down to what other countries are paying," he added.
This isn't the first time Trump has commented on drug prices. He promised in March he would bring pricing down.
Tweet Link
The iShares Nasdaq Biotech ETF is up 27 percent through midday Monday this year compared with the S&P 500's 14 percent return. |
Patents for Restasis Are Invalidated, Opening Door to Generics | A federal judge in Texas invalidated four key patents for the dry-eye treatment Restasis on Monday, dealing a blow to its manufacturer, Allergan, which had sought to protect its patents by transferring them to a Native American tribe.
| https://www.nytimes.com/2017/10/16/health/allergan-restasis-patent-.html?rref=collection%2Fsectioncollection%2Fhealth | 2017-10-17 09:37:18.087000 | A federal judge in Texas invalidated four key patents for the dry-eye treatment Restasis on Monday, dealing a blow to its manufacturer, Allergan, which had sought to protect its patents by transferring them to a Native American tribe.
The ruling, by United States Circuit Judge William C. Bryson of the Eastern District of Texas, does not mean that generic versions of the drug will be available soon, however. Allergan said that it would appeal the decision, and the Food and Drug Administration has not yet approved copycat versions of the drug.
Still, the decision was a setback for the company, whose stock dipped more than 5 percent on the news. Restasis is Allergan’s second best-selling product, behind the wrinkle treatment Botox, bringing in nearly $1.5 billion in 2016.
In September, Allergan took the highly unusual step of paying the Saint Regis Mohawk Tribe in upstate New York to take possession of the patents, which then were leased back to the company. The tactic was a way to protect the company from a patent challenge — separate from the federal court case — that is underway in an administrative proceeding before a unit of the United States Patent and Trademark Office. |
Trump renews attacks on high drug prices | President Donald Trump took two swings at drugmakers over the high cost of medicines on Monday, bringing attention back to an administration priority that he has largely ignored for the past few months.
| http://www.politico.com/story/2017/10/16/trump-attacks-high-drug-prices-243836 | 2017-10-17 09:36:15.970000 | His remarks echo claims, largely discredited by researchers, that U.S. drug prices are high because other countries pay less for medicines and don’t contribute as much toward research and development.
It’s unclear whether Trump’s renewed criticism of the drug industry signals any forthcoming action. Even though he has repeatedly lashed out at drugmakers, there’s been little indication he will crack down on prices.
A leaked draft of a still-pending executive order on drug prices this summer was favorable to the industry. The White House has also abandoned key pledges to allow Medicare to negotiate drug prices and expand importation of cheaper medicines from overseas. The administration has also appointed industry insiders to key posts.
Trump tied his harsh comments on drug prices to his broader criticism of Obamacare and his desire to remake the country’s health care system. However, neither the White House nor Congress ever put forward drug pricing reform as part of efforts to dismantle the Affordable Care Act, though Trump sometimes suggested they should be linked.
Trump also attacked the drug industry for contributing “massive amounts of money” to politicians and campaigns. He suggested that Senate Majority Leader Mitch McConnell, who was standing beside him in the Rose Garden, may receive pharmaceutical industry donations.
Trump said he doesn’t need or want industry money, but he also benefited from the sector on the campaign trial and after his election. For instance, U.S. drug giant Pfizer made a $1 million contribution to Trump’s inaugural committee, and Amgen donated $500,000, according to the Center for Public Integrity. |
Cleanup From California Fires Poses Environmental and Health Risks | Dr. Karen Relucio has heard reports of people digging into the ashes of their burned homes in recent days without gloves, wearing only shorts and T-shirts, looking for sentimental items that might have survived California’s horrific wildfires. And as the chief public health officer in Napa County, one of the hardest-hit places, she has used her office as a bully pulpit to urge them to stop, immediately.
| https://www.nytimes.com/2017/10/16/us/california-fires-cleanup.html | 2017-10-17 09:35:44.137000 | SANTA ROSA, Calif. — Dr. Karen Relucio has heard reports of people digging into the ashes of their burned homes in recent days without gloves, wearing only shorts and T-shirts, looking for sentimental items that might have survived California’s horrific wildfires. And as the chief public health officer in Napa County, one of the hardest-hit places, she has used her office as a bully pulpit to urge them to stop, immediately.
“Just think of all the hazardous materials in your house,” she said in an interview. “Your chemicals, your pesticides, propane, gasoline, plastic and paint — it all burns down into the ash. It concentrates in the ash, and it’s toxic,” said Dr. Relucio, who declared a public emergency over the hazardous waste from the fires, as have at least two other counties.
California’s fires are far from out. They have killed at least 41 people and burned about 5,700 structures and over 213,000 acres since they exploded in force on Oct. 8 and 9 — record totals for a state that is used to wildfires. Thousands of firefighters are still at work fighting blazes and tens of thousands of people remain under mandatory evacuation from their homes, though fire officials have expressed cautious optimism about bringing the fires into containment.
But even as the smell of smoke still wafts through this area north of San Francisco, public health officials and environmental cleanup experts are starting to think about the next chapter of the disaster: the huge amount of debris and ash that will be left behind. |
Pearson profit adjustment hints at recovery | Pearson has improved its earnings guidance, despite its underlying revenues falling by 2% in the first three quarters of 2017. The educational publisher promised a £300m ($394m) share buyback, as the North American market for school and higher education software dropped by just 1% on an underlying basis after last year's slump. Adjusted operating profit is now predicted to be between £576m and £606m, up from the previous estimate of between £546m and £606m.
| https://www.digitallook.com/news/news-and-announcements/pearson-tweaks-profits-guidance-as-us-market-not-as-bad-as-feared--2916891.html | 2017-10-17 09:33:38.983000 | Pearson 's underlying revenues fell 2% in the first nine months of the year, largely as expected, but the educational publisher improved its earnings guidance and promised a £300m share buyback.
As expected, the FTSE 100 group faced declines in the North American market for school and higher education courseware, though sales in US higher education courseware declined by only 1% on an underlying basis, which was on the better half of management's expectations as US digital revenue increased 11% and the division rallied from last year's unprecedented slump.
So while the structural pressures in US higher education are not going away, trading has not been as bad as it could be, so full year operating profits are expected to be in the upper half of the range set at the start of the year.
Adjusted operating profit are now expected to be between £576m and £606m, fine-tuned from the prior £546-606m range, feeding through to an earnings per share range of 51-54p, tightened up from 45.5-52.5p.
Net debt at the end of September had shrunk slightly over the year to £1.31bn from £1.36bn, as the balance sheet benefitted from good cash generation and the sale of a 22% stake in Penguin Random House and the offloading of the Global Education business.
Chief executive, John Fallon said: "We continue to invest in growing market opportunities, gaining share with our digital transformation, and becoming simpler and more efficient. With good cash generation and a strong balance sheet, we are going to return £300m in surplus capital through a share buyback.
"We expect tough market conditions in our biggest business to continue over the next couple of years. We're focused on being the long term winner in digital learning and creating sustainable value for our shareholders."
The digital focus has seen higher education digital courseware revenue grew 11%, with an 89% increase in institution-wide Direct Digital Access contracts signed this year to bring the total to 477, while cutting rental prices eBook titles saw revenues increase more than 20% and a print rental pilot had a "successful start". |
Trump predicts 'long-term fix' for Obamacare by March or April | President Donald Trump insisted Monday that Democrats will be blamed for their “Obamacare mess,” despite executive actions he took last week to undercut the law, while also expressing confidence that there will be a "long-term fix" for the law by March or April.
| http://www.politico.com/story/2017/10/16/trump-long-term-obamacare-fix-243821 | 2017-10-17 09:30:37.937000 | “In my opinion, what’s happening is as we meet, Republicans are meeting with Democrats because of what I did with the CSRs, because I cut off the gravy train,” Trump told reporters during a Cabinet meeting at the White House. “If I didn’t cut the CSRs, they wouldn’t be meeting. They’d be having lunch and enjoying themselves, all right? They’re right now having emergency meetings to get a short-term fix of health care, where premiums don’t have to double and triple every year like they’ve been doing under Obamacare.”
Obamacare, the president declared, “is finished,” “dead” and “gone.” “You shouldn’t even mention” it, he said, arguing that “there is no such thing as Obamacare” anymore and adding that it was a policy that never could have worked.
Trump predicted a short-term bipartisan fix for Obamacare will come “fairly soon,” and he claimed Republicans have the votes to pass the health care reform that has eluded them for the past nine months.
“Soon as we have the next reconciliation, I think we’ll get the vote for health care. I feel very confident of that,” Trump said. “I think we already have the vote for health care. Sadly, the Democrats can’t join us on that, which will be the long-term fix, but I do believe we’ll have a short-term fix because I think the Democrats will be blamed for the mess. This is an Obamacare mess.”
“When the premiums go up, that has nothing to do with anything other than the fact that we had poor health care, delivered poorly, written poorly, approved by the Democrats,” the president continued. “It was called Obamacare. But I think we’ll have a short-term fix, and then we’ll have a long-term fix, and that will take place probably in March or April. We will have a very solid vote. It’ll be probably 100 percent Republican, no Democrats, but most people know that’s gonna be a very good form of health insurance.”
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Trump said to want bipartisan Senate Obamacare deal | President Donald Trump urged Republican Sen. Lamar Alexander to seek out an Obamacare deal with Democrats — encouragement that might help sway Republicans who are skeptical of a bipartisan agreement.
| http://www.politico.com/story/2017/10/16/trump-bipartisan-senate-obamacare-deal-243846 | 2017-10-17 09:28:53.150000 | Alexander, the chairman of the Senate health Committee, has been working with ranking Democrat Patty Murray for weeks on an Obamacare stabilization bill with similar parameters. But the talks had stalled over how to define state flexibility: Republicans want to let states modify their health systems under Obamacare, and Democrats are wary of anything that could unwind any of the consumer protections in the law.
The discussions sped up over the weekend after the White House on Oct. 12 said Obamacare’s cost-sharing reduction payments would end as soon as next week, according to Republican and Democratic sources. The cost-sharing program, which reimburses insurers to help low-income people pay out-of-pocket health costs, was the centerpiece of a 2014 lawsuit by House Republicans that contended the payments were illegal because they had not been authorized by Congress.
Alexander wants to craft a deal that has the support of a “significant number of Republicans and Democrats.” His goal is to hand the legislation off to Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer. Alexander said Monday he wants to pass a bill as soon as possible so that consumers could see premium relief in 2018.
It’s unlikely that such a bill would pass on its own, particularly if it is poised to get more Democratic support than Republican votes. Democrats have already suggested attaching it to a larger bill, or even folding it into a year-end spending deal, but some worry that would come too late to have an effect on 2018 rates.
A White House official stressed the effort would have to deliver changes to the health law.
“We are willing to work with Congress to reach a legislative solution,” a White House spokesman said. “We will not provide bailouts to insurance companies until we provide the American people with relief from the Obamacare disaster.”
Alexander said he won’t agree to a deal that lacks expanded flexibility for states because he wouldn’t be able to get significant support from other Republicans.
Senate Republicans on Monday said they are open to seeing what Alexander and Murray can come up with.
“I’ve been encouraging Sen. Alexander to work with Sen. Murray all the way throughout the process, but there absolutely has to be some give on the part of the Democrats — the flexibility we need at the state level to lower the cost of premiums for families,” said Sen. John Barrasso (R-Wyo.).
Senate Majority Whip John Cornyn (R-Texas) said he wants to “see some reforms” in a bill.
There is more skepticism about a bipartisan Obamacare deal in the House, where Republicans were able to pass an Obamacare repeal bill only to see the Senate fail at the task.
Alexander and Murray have been discussing a deal since the summer. But Trump on Monday suggested that lawmakers were holding “emergency meetings” on a bipartisan bill because of him.
“Republican are meeting with Democrats because of what I did with the CSRs — because I cut off the gravy train,” Trump told reporters. |
Family members play important role in managing chronic illness | Family members often play an important role in managing chronic illnesses, and a family approach may produce more effective, long-term benefits for the patient, according to a Penn State researcher.
| https://medicalxpress.com/news/2017-10-family-members-important-role-chronic.html | 2017-10-17 09:22:20.223000 | Family members often play an important role in managing chronic illnesses, and a family approach may produce more effective, long-term benefits for the patient, according to a Penn State researcher.
Lynn Martire, professor of human development and family studies at Penn State and affiliate of the Center for Healthy Aging, says family intervention approaches—such as working together to make dietary changes—can be an effective strategy for improving chronic illness management.
"For some family groups, setting goals together for making lifestyle changes such as healthier eating habits and regular exercise, helps patients to stay on track and may benefit family members as well," she said.
Martire said this approach could have positive implications on health care costs as well as the treatment of patients.
"The vast majority of health care spending is for treatment of chronic health problems in children and adults. Self-management of chronic illness can reduce these health care costs, and close family members such as a parent or the spouse play an important role in helping patients to manage their illness," Martire said. "Therefore, psychological or behavioral treatments that target the patient-family member dyad may decrease health care costs or have more long-lasting effects than treatments that target only the patient."
Martire is co-author of "Close Relationships and the Management of Chronic Illness: Associations and Interventions," a paper that appears in the September issue of Current Directions in Psychological Science, a journal published by the American Psychological Association. Vicki Helgeson, professor of psychology at Carnegie Mellon University, is co-author of the paper.
According to the authors, patients and family members can work together to monitor patients' illness symptoms, keep medical appointments, and help the patient stick to medication regimens as a strategy for chronic illness management. "A key feature of these programs is improving communication around health issues and identifying obstacles to good self-management," Martire said.
The use of technology to maintain behavior change may also be a promising approach, Martire said. Some treatment programs require frequent travel on the part of patients and families, which limits their accessibility. Technology-supported approaches such as web- or mobile phone-based programs could reach a broader population of patients and family members.
Increasing internet usage across broad segments of the U.S. population offers an especially appealing method for delivering programs to large numbers of patients and families at low cost. Moreover, web-based interventions for health and illness management could be modified for dyads, she said.
"There is certainly more to learn about the influence of family on patient illness management," Martire said. "However, it is not too soon to develop theory-based interventions that aim to change specific health-related behaviors of family members to see if patients' illness management improves." |
The fight against senior scams | The U.S. Centers for Disease Control and Prevention might be best known for its efforts to combat obesity, or Zika, or the H1N1 flu virus. But last year, it drew new attention to a hazard that doesn’t sound like a disease at all.
| http://www.politico.com/agenda/story/2017/09/27/senior-financial-abuse-regulations-000528 | 2017-10-17 09:20:39.700000 | The U.S. Centers for Disease Control and Prevention might be best known for its efforts to combat obesity, or Zika, or the H1N1 flu virus. But last year, it drew new attention to a hazard that doesn’t sound like a disease at all.
The hazard is “senior financial abuse,” meaning the theft of older people’s resources by someone they trust. Alarmed by the growing cost of the problem and the lack of a clear strategy to combat it, the CDC included in a first-of-its-kind report a definition for what constitutes the financial exploitation of old people. It includes fraud, breach of personal trust, poor investment advice, or improper use of power of attorney.
Defining the problem is an important step that the agency hopes will make senior financial abuse more measurable and preventable. No complete numbers exist, but it’s safe to say financial abuse costs older Americans billions of dollars annually. In New York alone, the state estimated its seniors lost as much as $1.5 billion over 12 months from misappropriation of funds. A 2016 survey from the Investor Protection Trust said almost 1-in-5 seniors, some 7 million Americans, report that they have been victims of exploitation. Most cases don’t come to the attention of authorities, so experts believe the actual number could be a lot higher.
In one sense, the CDC move simply added a new a layer of protection to its monitoring of the elderly, the same way it tries to track physical harm and neglect. But in targeting financial abuse, it also was shining a light on a big and growing problem: An increasing quantity of American assets are held by elderly people, who are more vulnerable to being exploited.
Rapidly evolving technology, decreased cognitive capacity and social isolation make older people especially vulnerable to being scammed. And their assets are becoming a bigger and bigger honeypot. The median wealth of families headed by someone at least 62 years of age rose 40 percent from 1989 to 2013, according to a working paper from the Federal Reserve Bank of St. Louis. (During the same period, the median wealth of families headed by someone between ages 40 and 61 dropped 31 percent.)
The growing alarm over financial abuse, however, is colliding with the Trump administration’s push to ease regulations on the banking industry and loosen consumer protections, both of which could disproportionately affect older Americans. In August, the administration proposed to delay key parts of an Obama-era rule that requires financial brokers to put their customers’ interests ahead of their own compensation when offering retirement advice.
In Congress, Republicans are seeking to dismantle the Consumer Financial Protection Bureau, which has an office dedicated to older Americans. Legislation has stalled that would encourage financial professionals to report suspected senior fraud. And lawmakers have even failed to fund a safeguard for seniors that’s already on the books: the Elder Justice Act, enacted as part of Obamacare in 2010. As a result, “the federal government has not substantially developed and expanded its role in addressing the prevention, detection and treatment of elder abuse,” the Congressional Research Service said in a January report.
With Washington relaxing its protections, states have begun taking matters into their own hands—including several senior-heavy Republican states led by those that were among Donald Trump’s biggest backers in 2016. Alabama, Arkansas, Indiana, Louisiana, Mississippi, Montana, North Dakota and Texas have all passed legislation protecting seniors from financial abuse. Others are supporting former President Barack Obama’s so-called fiduciary duty rule guiding investment advice for retirement savers, drawing the ire of big financial firms. America appears to be headed toward a conflict over just what kinds of protections older people should enjoy — and who is supposed to protect them.
THE CDC MOVE follows the work of Robert Roush, a doctor who runs the Texas Consortium of Geriatrics Education Center in Houston. After reading about how the parents of a former Securities and Exchange Commission chairman were pestered by aggressive financial brokers, Roush in 2009 started training medical professionals to screen for financial abuse in older patients.
It might seem far afield for a doctor, but he had found that financial woes could have a powerful effect on people’s health. When older people lose so much money that they have to choose between health care costs and routine living expenses, he said, “it becomes a clinical issue."
The SEC helped connect Roush to a little-known group of state-level financial-sector watchdogs, the North American Securities Administrators Association, and he began working with them on the issue. Now, 33 states have teamed up with him in his education program, and the NASAA is lobbying states and Congress to adopt legislation protecting seniors from financial abuse. The group has drafted model legislation requiring financial professionals to report suspected financial abuse of seniors to both state securities regulators and adult protective services. It also gives professionals authority to temporarily delay disbursement of money in instances where they suspect misconduct.
A woman sits in her dining room as mail stacks up on her kitchen stool. Isolation can make seniors especially susceptible to financial fraud. | Getty
Their goal is to put the ball in the court of the financial industry, so brokers, as well as banks and credit unions, learn to watch for the signs an older customer is being taken advantage of. (Roush is also pleased with the CDC effort, though he considers it only a first step: “It is just like when we first started screening for cancer," he said. "The more you look for cancer, the more cancers you find.")
Oversight from government watchdogs is important because financial abuse is often carried out by someone seniors trust. Thomas Clement of Foley, Alabama, lost more than a half-million dollars on an investment before he recognized it as a scam. In 2005, at the age of 65, Clement started investing in a tire-recycling business with a man he met on a trip to Australia. Four years and $650,000 later, when he tried to collect returns he was owed, Clement realized he had become a victim.
He reported his case to the Alabama Securities Commission and was able to recoup about $500,000. The people he gave money to eventually were indicted for fraud.
But his case is rare in one respect: Researchers say elderly victims usually do not report their own potential financial exploitation, making them even more alluring targets. They may not detect it; they may be embarrassed to admit it, or they might want to shield their children and caregivers from law enforcement when a crime has been committed.
“I was reluctant to do that,” Clement admits about reporting his own abuse.
In addition, state regulators and adult protective services agencies are often operating with insufficient funding, which limits the scope of what they can do, said Corey Carlisle, executive director of the ABA Foundation, affiliated with the American Bankers Association.
“There just aren’t enough resources to combat this problem,” he said.
MODERN TECHNOLOGY OFFERS new and insidious ways for abuse to occur—though it can also offer tools to detect it. Judith Shaw, Maine’s securities administrator, said many people 80 or older don’t manage their finances electronically and are vulnerable to people who offer to help them set up online accounts. The elderly individuals go to their banks, she said, “only to find that their accounts have been drained.”
Regulators trying to solve the problem see a handful of promising approaches. One is proactive: The Texas State Securities Board, for example, is trying to address the dangers posed by online scammers by implementing a “market surveillance program” where employees look for scams, such as investment opportunities advertised through Craigslist. The agency also does undercover investigations.
“That’s what law enforcement and regulators need to be doing, because the senior population is growing, but [agencies] are not getting many more resources,” said Joe Rotunda, director of enforcement at the state securities board. “They have to be innovative.”
Another tactic is data analysis. The Treasury Department's Financial Crimes Enforcement Network, or FinCEN, issued an advisory in 2011, urging financial institutions to flag potential abuse in a suspicious activity report, a database that’s made available to law enforcement. That type of monitoring is typically used to combat financial crimes like money laundering or terrorism financing, but can be a key tool for combating exploitation of seniors as well.
Last month, FinCEN and the CFPB put out a joint memo to emphasize that financial institutions and law enforcement need to work together to combat elder exploitation. “Timely reporting of suspicious activity, regardless of whether reporting is mandatory or voluntary under state or federal law, is critical in engaging entities that may have complementary information on the victim or the perpetrator from other sources and may be well positioned to collaborate on investigations,” they said.
Banks, credit unions and brokers have plenty of clues that something might be going wrong and should adjust their fraud-monitoring systems to detect those signs, said Naomi Karp, a senior policy adviser at the CFPB.
“If a person in their 20s goes to an ATM at 3 a.m., that’s not going to set off any red flags,” Karp said. “But if you know this is an 80-year-old person at an assisted living facility … the alarm should go off.”
Federal bank regulators in 2013 issued guidance assuring the institutions they supervise that they won’t run afoul of privacy laws by reporting suspicious activity related to financial abuse of elderly adults.
Some of this monitoring seems like common sense. But some anti-abuse measures have met with serious friction in Washington—none more so than the "fiduciary rule," a regulation adopted by the Obama administration in April 2016 for brokers who offer retirement investing advice.
LEFT: A woman embraces her father, who was a victim of financial fraud. He goes only by Mr. W. in public, fearful of being targeted for fraud again. RIGHT: Mr. W testifies at a hearing on scams against the elderly before the Senate Special Committee on Aging in 2014. | AP Photos
The product of six years of debate with the financial industry, it would have regulated advisers more like doctors or lawyers, by exposing them to the threat of litigation if they put their own interests ahead of their clients.
The rule was strongly backed by the AARP, which says the fiduciary rule will protect seniors from hidden fees buried in investment products. But financial companies fought hard to stop it and the threat to their sales; amid intense lobbying, Trump signed an executive order in February that asked the Labor Department to review the rule.
But with Washington now on the sidelines, states are plowing ahead with their own such regulations. In June, Connecticut and Nevada passed laws that created statewide fiduciary rules for brokers. Other states are considering similar legislation.
Those are hitting friction too: The Securities Industry and Financial Markets Association, one of the largest lobbying groups for financial companies, has opposed legislation modeled after NASAA’s proposal in Alabama and Louisiana; it wants the job to fall to Wall Street’s self-regulator, the Financial Industry Regulatory Authority. A FINRA rule that goes into effect in February will require brokers to stop cash disbursements to a senior if financial abuse is suspected.
“The states probably are going forward because they want to show they are engaged on this issue,” said Lisa Bleier, a managing director at SIFMA. But now with the FINRA rule, she argues, “there is really no need.”
NASAA’s members aren't sure a voluntary industry rule offers seniors the protection they need. Ultimately, as long as seniors are isolated, they’re going to be vulnerable—and given the ambitions of scammers at every level, seniors will likely need more than one layer of protection.
“I grew up in a small town in northern Maine,” said Shaw, the state’s securities administrator. “If my great-grandparents needed something they could turn to my grandparents, or my parents, or my aunts or uncles. Those types of communities are becoming more and more rare.”
“That social isolation contributes to making our population more vulnerable, certainly to scam artists, because they just sit there and answer the phone all day,” she said. “If I had one wish, it would be that we all call our parents at least as frequently as the scam artists do.”
Victoria Guida and Patrick Temple-West are financial services reporters for POLITICO Pro.
Authors: |
Novartis gene therapy drug treatment may cost $1.5m | Leukaemia patients taking Kymriah, a gene therapy drug developed by Novartis, could face total costs of $1.5m. The drug costs around $15,000 to manufacture. The one-time treatment costs $475,000, but dealing with side-effects incurs additional charges, said Dr. Hagop Kantarjian. More than one-third of Kymriah users relapse within a year. Novartis said it is working on an "outcomes-based pricing" plan, and won't charge for the drug if patients go into remission within the first month of treatment.
| https://www.usatoday.com/story/news/2017/10/16/new-gene-therapy-treatment/769240001/ | 2017-10-17 08:58:57.333000 | Liz Szabo
Kaiser Health News
The total costs of the country’s first gene therapy will be far higher than many have imagined, reaching $1 million or more per patient, according to leading cancer experts.
The therapy, a leukemia drug from Novartis called Kymriah, was approved in August with an eye-popping sticker price of $475,000 for a one-time treatment.
But that price doesn’t include other essential parts of treatment, such as hospitalizations or the costs of managing side effects, said Dr. Hagop Kantarjian, a leukemia specialist and professor at the University of Texas MD Anderson Cancer Center, who estimates the total cost of care could be $1.5 million.
And Kymriah is just one of 21 similar drugs in development, known as CAR T-cell therapies. The next drug in the pipeline could be approved as soon as November.
Although Kymriah’s price tag has “shattered oncology drug pricing norms,” the drug cost is “just the starting point,” said Leonard Saltz, chief of gastrointestinal oncology at Memorial Sloan Kettering Cancer Center in New York.
For this class of drugs, Saltz advised consumers to “think of the $475,000 as parts, not labor.”
CAR T-cell therapy is expensive because of the unique way that it works. Doctors harvest patients’ immune cells, genetically alter them to rev up their ability to fight cancer, then re-infuse them into patients.
Taking the brakes off the immune system can lead to life-threatening complications that require lengthy hospitalizations and expensive medications, Kantarjian said, which are prescribed in addition to conventional cancer therapy, rather than in place of it.
Keith Eaton, a Seattle oncologist, said he ran up medical bills of $500,000 when he participated in a clinical trial of CAR T cells in 2013, even though all patients in the study received the medication for free. Eaton, who suffered from leukemia, spent nearly two months in the hospital.
Like Eaton, nearly half of patients who receive CAR T cells develop a severe or life-threatening complication called “cytokine storm,” in which the immune system overreacts, causing dangerously high fevers and sudden drops in blood pressure. These patients are typically treated in the intensive care unit. Other serious side effects include stroke-like symptoms and coma.
The cytokine storm felt like “the worst flu of your life,” said Eaton, now 51. His fever spiked so high that a hospital nurse assumed the thermometer was broken. Eaton replied, “It’s not broken. My temperature is too high to register on the thermometer.”
Although Eaton recovered, he wasn’t done with treatment. His doctors recommended a bone-marrow transplant, another harrowing procedure, at a cost of hundreds of thousands of dollars.
Eaton said he feels fortunate to be healthy today; tests show no evidence of leukemia. His insurer paid for almost everything.
More:Revolutionary gene therapy approved for leukemia — at $475,000 price tag
More:'Major advance': Leukemia treatment could be first U.S. gene therapy
Kymriah’s sticker price is especially “outrageous” given its relatively low manufacturing costs, said Walid Gellad, co-director of the Center for Pharmaceutical Policy and Prescribing at the University of Pittsburgh.
The gene therapy process used to create Kymriah costs about $15,000, according to a 2012 presentation by Carl June, who pioneered CAR T-cell research at the University of Pennsylvania. June could not be reached for comment.
To quell unrest about price, Novartis has offered patients and insurers a new twist on the money-back guarantee.
Novartis will charge for the drug only if patients go into remission within one month of treatment. In a key clinical trial, 83% of the children and young adults treated with Kymriah went into remission within three months. Novartis calls the plan “outcomes-based pricing.”
Novartis is “working through the specific details” of how the pricing plan will affect the Centers for Medicare & Medicaid Services, which pays for care for many cancer patients, company spokeswoman Julie Masow said. “There are many hurdles” to this type of pricing plan, but “Novartis is committed to making this happen,” she said.
Masow said Kymriah’s manufacturing costs are much higher than $15,000, although she didn’t cite a specific dollar amount. She noted that Novartis has invested heavily in the technology, designing “an innovative manufacturing facility and process specifically for cellular therapies.”
As for Kymriah-related hospital and medication charges, “costs will vary from patient to patient and treatment center to treatment center, based on the level of care each patient requires,” Masow said. “Kymriah is a one-time treatment that has shown remarkable early, deep and durable responses in these children who are very sick and often out of options.”
Some doctors said Kymriah, which could be used by about 600 patients a year, offers an incalculable benefit for desperately ill young people. Kymriah is approved for children and young adults with a type of acute lymphoblastic leukemia and already have been treated with at least two other cancer therapies.
“A kid’s life is priceless,” said Michelle Hermiston, director of pediatric immunotherapy at UCSF Benioff Children’s Hospital San Francisco. “Any given kid has the potential to make financial impacts over a lifetime that far outweigh the cost of their cure. From this perspective, every child in my mind deserves the best curative therapy we can offer.”
Other cancer doctors say the Novartis plan is no bargain.
About 36% of patients who go into remission with Kymriah relapse within one year, said Vinay Prasad, an assistant professor of medicine at Oregon Health & Science University. Many of these patients will need additional treatment, said Prasad, who wrote a recent editorial about Kymriah’s price in Nature.
“If you’ve paid half a million dollars for drugs and half a million dollars for care, and a year later your cancer is back, is that a good deal?” asked Saltz, who co-wrote a recent editorial on Kymriah’s price in JAMA.
Steve Miller, chief medical officer for Express Scripts, a pharmacy benefit manager, said it would be more fair to judge Kymriah’s success after six months of treatment, rather than one month.
Prasad goes even further. He said Novartis should issue refunds for any patient whose leukemia relapses within three years.
A consumer advocate group called Patients for Affordable Drugs also has said that Kymriah costs too much, given that the federal government spent more than $200 million over two decades to support the basic research into CAR T-cell therapy, long before Novartis bought the rights.
Rep. Lloyd Doggett, D-Texas, wrote a letter to the Medicare program’s director last month asking for details on how the Novartis payment deal will work.
“As Big Pharma continues to put price gouging before patient access, companies will point more and more proudly at their pricing agreements,” Doggett wrote. “But taxpayers deserve to know more about how these agreements will work — whether they will actually save the government money, defray these massive costs and ensure that they can access lifesaving medications.”
Kaiser Health News, a non-profit health newsroom whose stories appear in news outlets nationwide, is an editorially independent part of the Kaiser Family Foundation. |
Australian fintech firms pitching to create tokenised AUD | A group of fintech firms are seeking to create a government-backed Digital Australian Dollar (DAD). Presenting their case to the Reserve Bank of Australia and the federal treasury, the companies argued that a DAD pegged to the Australian dollar could compete against cryptocurrencies such as bitcoin and ethereum. The country's government has not publicly mentioned the idea of creating an Australian cryptocurrency, but has introduced legislative changes to make digital money more mainstream.
| http://www.afr.com/markets/currencies/fintechs-secret-pitch-to-the-rba-to-create-an-australian-dollar-cryptocurrency-20171015-gz1hpt | 2017-10-17 08:33:02.243000 | Last month, a consortium of Japanese banks — with the backing of that country's central bank and regulators — was reported to be working on a digital currency to launch in time for the 2020 Tokyo Olympics.
The new J-Coin would be exchanged at a one-to-one rate to the Japanese yen, and is being created to push a population still very much in love with coins and notes towards a cashless society.
One of the Australian start-ups that put its case forward, Sydney's FlashFX, is the first company in the country to be granted a financial services licence to move money internationally using blockchain.
For this purpose, the business now issues its own digital representation of the Australian dollar — but said an official cryptocurrency would have in-built trust that no privately launched digital dollar could ever match.
"A government-endorsed digital Australian dollar has the potential to lead to increased trust and certainty, particularly to grow the digital currency marketplace," said FlashFX chief enabling officer Nicolas Steiger.
"It would also stop multiple private parties creating a confusing array of 'Australian dollars' with no official backing."
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For similar purposes, a group of big-name banks are developing a blockchain currency to settle international payments between themselves. The Utility Settlement Coin project, which is aiming to go live by the end of next year, was founded by UBS, BNY Mellon, Deutsche Bank, Santander, NEX and blockchain start-up Clearmatics, with Barclays, CIBC, Credit Suisse, HSBC, MUFG and State Street joining the action in August.
Another start-up that presented its use-case to the RBA, AgriDigital, uses blockchain to facilitate grain transactions between farmers and buyers. But despite the sophisticated technology, payments still happen outside of the blockchain, using physical money because of the volatility and lack of trust in existing cryptocurrencies among its users.
'Strong and globally competitive'
"A centrally issued Digital Australian Dollar, backed by fiat [physical] currency, would enable payments to be made between participants in real time and 24/7 along the supply chain," said AgriDigital co-founder Emma Weston.
"It would also put the Australian agricultural technology industry in a strong and globally competitive position."
The third fintech that pleaded the case for the DAD, Othera, uses blockchain to facilitate digital loan contracts, manage their risk and tokenise the repayment cashflow.
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Othera chief executive John Pellew said his company would like to use an official digital Australia dollar to tie payments to the contract blockchain for automated "immutable record keeping and full audit trail".
"Currently to make our technology work we are forced to integrate back into the legacy payment rails of the banking system in order to facilitate and process repayments from borrowers and then forward payments on to the token holders," he said.
"This is a slow and expensive process and does not utilise the built-in capability of the blockchain smart contracts to auto process these repayments… A DAD would unlock the full potential of our blockchain and smart contract technology."
The Australian government has not publicly mentioned the idea of creating an Australia dollar cryptocurrency, but it has this year made legislative changes to make digital money ownership less burdensome and more mainstream.
In the May budget, Treasurer Scott Morrison removed the GST on purchases of cryptocurrency, bringing it in line with traditional currencies. Previously, a digital currency user paid GST twice – first on the purchase of the cryptocurrency, then a second time when spending it on goods and services.
According to FinTech Australia, Australia then became one of just "a handful" of nations to remove such a double tax from digital currencies.
Then in August, the federal government introduced legislation that will require cryptocurrency exchange businesses be compliant with money laundering and terrorism financing controls. That bill has been referred to the senate's Legal and Constitutional Affairs Committee.
Business Insider Australia is the media partner for Intersekt, the annual FinTech Australia festival discussing leadership and innovation in the nation's financial technology sector. It begins on October 27 in Melbourne, culminating in the Collab/Collide Summit on November 2 and 3. The Australian digital dollar will be discussed on Blockchain Day on November 1 at the Intersekt fintech festival in Melbourne, as well as at the headline Collab/Collide Summit held on November 2 and 3. You can book tickets at intersektfestival.com.
This story first appeared in Business Insider. Read it here or follow BusinessInsider Australia on Facebook.
BusinessInsider.com.au |
News UK branded-content team uses data to show its ads work | News UK has restructured its branded-content division, Bridge Studio, to provide a more consistent service to agencies and brands. Mark Field, who joined the division as its director last November, has overseen the reorganisation, bringing together a number of separate teams into one. Bridge has adopted a new approach to its branded content, using data on News UK's audiences and other analysis tools to profile the key emotions of target demographics. It now runs post-campaign analysis on all its campaigns, and will be using the findings to prove to clients that its approach works.
| https://digiday.com/media/news-uks-branded-content-shop-shows-ads-work/?utm_medium=email&utm_campaign=digidaydis&utm_source=uk&utm_content=171017 | 2017-10-17 08:25:13.203000 | News UK is taking inspiration from agencies on how to create branded content. In the last year, the publisher’s branded-content arm, Bridge Studio, has worked closely with agencies to build a framework around how it creates content.
Most publishers’ branded-content arms think audience first, rather than through the lens of their own brands. Bridge Studio believes it differentiates itself by overlaying emotion profiles onto the target audience, partly through tools from companies acquired by News UK, like video distribution company Unruly and social news agency Storyful. In the last year, Bridge Studio has started running post-campaign analysis on every campaign to prove the ads work.
Bridge Studio’s revenue has increased each quarter in the last year, with 25 percent of revenue now coming from digital, according to Mark Field, director of Bridge Studio. “That’s more than doubled from the same period last year because our approach is leaning more toward a central idea,” he said. The publisher couldn’t share specific figures.
Over the next few weeks, Bridge Studio is explaining its approach to U.K. agencies to try to show how it can compete in a crowded branded-content arena. It hopes to create more effective work by aligning with the way agencies plan and brief campaigns.
“There’s always been a connection between content and emotion, but we’re connecting that with understanding the user journey,” said Field. “We can bring layers of data together and proprietary tools to direct the travel of the creative. It’s incumbent on us as content teams not just to create content but to show the client how we got there and give them more confidence this idea will work.”
Bridge Studio has access to first-party data from The Sun and The Times of London, data from Unruly’s emotion-tracking tool Pulse, social sentiment data from Storyful, other proprietary tools as well as more easily available data sets like Google Analytics. For a campaign in May for car brand Škoda and Omnicom agency Phd, Bridge Studio identified the important emotions in the target audience were knowledge, pride and inspiration.
It then created The Alternative Rich List, a spin on the Sunday Times’ Rich List, featuring people who were wealthy in non-monetary ways, like a living organ donor. The campaign ran in print, video, online and audio, and because it was published in the Sunday Times’ Rich List, it needed a standard of journalistic integrity, said Field. Post-campaign analysis found a 41 percent uplift in the perception of Škoda as an inspiring brand, according to News UK, and 11 percent increase in purchase consideration.
As demand for branded content has increased, with more brands embedding content in their communications strategies, publishers have spotted additional revenue opportunities and been more vocal about solutions they offer.
When Field joined News UK in November 2016 from Trinity Mirror, his responsibility was to restructure and simplify News UK’s branded-content offering. Last year, three areas of News UK’s commercial team — Method, where commercial journalists worked with advertisers; the campaign management team, consisting of project managers tasked with pricing campaigns; and the creative solutions account management team — all operated separately. Unsurprisingly, branded content lacked a consistent look and tone, and it sometimes led to overpromising on what campaigns it could deliver, said Field. “We were thinking very brand-centric internally first, so perhaps not stretching the creative opportunity.”
Besides print and digital, News UK’s portfolio has expanded to include audio after its acquisition of audio media company Wireless Group in September 2016. Field is also in the process of hiring seven people since last year across editorial and strategic planning, an additional fourth area in Bridge Studio’s team, bringing Bridge Studio’s head count to 42.
Bridge Studio receives roughly 25 briefs a week, up 25 percent from 12 months ago. This could be due to increased demand in the market, but Bridge Studio appears to be winning more business, too: Field said it’s signing more seven-figure campaign deals, including a 12-month campaign with Barclays bank in March 2017. Bridge Studio works with roughly 50 clients a month, including car brand Kia and Pilgrims Cheese, up 10 percent from last year, although this varies by season.
The increased competition in the market has put more emphasis on proving ads work, and the need is growing for more longer-term partnerships and repeat clients. “All media owners say, ‘We want to work further upstream with agencies,'” said Field. “We are getting closer to the strategy and to clients directly, but 98 percent of our work is through media agencies; it’s not for us to disintermediate agencies.”
Field said the industry as a whole must work together to prove branded content’s effectiveness, as it’s common for no one to win the pitch. “Proving the value and worth is what we’re trying to figure out.” |
Incumbent insurers trusted more than insurtech firms: Capgemini | While almost a third of consumers are making use of insurtech services, traditional insurers are still trusted more than start-ups, according to a survey from Capgemini. Almost 40% of consumers trust insurance companies, compared to just 26% trusting insurtech firms, according to the survey. Established insurers also scored higher than insurtech companies when it came to dealing with issues such as fraud protection.
| https://www.carriermanagement.com/news/2017/10/16/172200.htm | 2017-10-17 07:41:34.190000 | InsurTechs are changing the face of insurance, Capgemini and Efma said, announcing results of a consumer survey last month in which nearly one-third of respondent said they now rely on InsurTechs.
But while the actual figure—31.4 percent of more than 8,000 consumers surveyed worldwide—represents customers who said they rely on InsurTechs either exclusively or in combination with incumbent relationships to access insurance services, other survey results—in particular, an answer to a question about trust—point to the value of incumbent insurers working together with insurers.
Nearly 40 percent of the customers surveyed—39.8 percent to be exact—say they trust their insurers, compared to only 26.3 percent who trust InsurTechs, Capgemini and Efma said in the 2017 World Insurance Report, published in mid-September.
In addition to their customer trust advantage, insurance firms got higher marks for security and fraud protection (according to 45.9 percent of respondents), brand recognition (43.7 percent) and personal interaction (41.6 percent).
InsurTechs, on the other hand, offer better value for the money (34.6 percent) than incumbents, they are better able to integrate social networking with the financial world (32.3 percent) and they provide timely and efficient service (31.8 percent).
In fact, in a statement announcement the report, Capgemini and Efma define InsurTech as “the application of technology to spur savings and efficiency within traditional insurance industry models. “InsurTech explores innovations such as customized policies, social insurance, and using data from mobile devices to dynamically price premiums,” they say.
Given the complementary strengths of InsurTechs and traditional insurers, the two are natural partners, the report authors assert. Jack Dugan, Executive Vice President and Head of Insurance for Capgemini, said, “Increasingly, partnerships are being viewed as a welcome development in the ongoing effort to address the InsurTech movement. InsurTechs can help incumbents overcome roadblocks such as aging systems and paper-based processes. Meanwhile, incumbents can help InsurTechs face newcomer challenges like high customer-acquisition costs and a lack of risk management experience.”
Insurers agree that InsurTechs shouldn’t be viewed as competitors but that there is a solid case for collaboration instead, the report notes, presenting the results of a separate survey of 100 senior executives to support the idea. Of the executives interviewed from insurance firms in 15 markets, a strong majority—75 percent—said that developing InsurTech capabilities would help them better meet customers’ evolving demands. And more than half—52.7 percent—agreed that having InsurTech capabilities would help them quickly design personalized products.
Executives interviewed were also asked to how insurers should prioritize investments in six emerging technologies.
82.8 percent, identified advanced analytics as an important technology, and 85 percent said they felt insurers were already investing in analytics
as an important technology, and 85 percent said they felt insurers were already investing in analytics 72.4 percent selected connected devices (connected ecosystems and wearables). But here, only half said insurers are already investing in connected systems, with about 36.4 percent expecting the insurance industry to invest in this type of technology in the next one-to-three years.
(connected ecosystems and wearables). But here, only half said insurers are already investing in connected systems, with about 36.4 percent expecting the insurance industry to invest in this type of technology in the next one-to-three years. 69 percent put artificial intelligence on their lists of important emerging technologies, but here again, executives believed industry investments are still to come. Only 36.4 percent said the insurance industry is already investing in AI, while another 45.5 percent said investments will happen in the next three years.
As for the other technologies that Capgemini and Efma asked about, the executives estimated that 79 percent of insurers are already investing in robotic process automation, with just over 63 percent identifying RPA as important.
Blockchain and drones were cited as the least important of the six emerging technologies. |
Insurance license delays Yungfeng's acquisition of MassMutual | Yungfeng, the financial services firm backed by Alibaba's Jack Ma, will have to wait until at least Q3 2018 to close out its acquisition of MassMutual's Asian arm in a deal worth $1.7bn. While the business has obtained most of the licenses it needs to offer a full suite of financial services, it is still waiting to be granted an insurance license from Hong Kong's Securities and Futures Commission. Yungfeng already offers robo-advice services, and has partnerships with the likes of BlackRock, Pimco and Axa. It plans to offer insurance products following the awarding of the license.
| http://www.scmp.com/business/article/2115670/jack-ma-backed-yunfeng-financial-expects-take-least-year-complete-us17b | 2017-10-17 07:40:16.317000 | Yunfeng says its YouYu Robo Advisor has so far signed partnerships with 15 asset managers including investment giants BlackRock, Pimco and AXA |
Advertisers now spend more on online video ads than banner ads | During H1 2017, advertisers spent more on video ads than banner ads for the first time. Video ads claimed £699m ($921m) of spend, a rise of 46% on the same period last year, compared with banner ad spend, which increased by 2% to reach £685m, according to a report by the Internet Advertising Bureau. It revealed overall digital ad spend for the first half of the year rose 13.8% to £5.56bn, and highlighted outstream/social infeed as the most popular form of video ad. Video is growing more quickly than any other format and accounts for 35% of display ad spend.
| http://www.thedrum.com/news/2017/10/17/online-video-ad-spend-grows-46-year-overtake-banner-ads-first-time | 2017-10-17 07:33:31.517000 | Advertisers spent a record £14m more on video ads than banner ads for the first time this year, as video advertising grew by 46% to become the fastest-growing ad format in the industry, according to the latest Digital Adspend report by the Internet Advertising Bureau (IAB) UK and PwC.
Advertisers spent more on video ads than banner ads for the first time this year
In the first half of 2017, advertisers spent £699m on video ads – a 46% year-on-year rise – whilst spend on banner ads increased by just under 2% to £685m.
Video is the fastest-growing ad format and now accounts for 35% of all spend going on display advertising.
The figures show that advertisers are chasing the way that consumers are spending their time online, with Zenith's Online Video Forecasts 2017 predicting Brits will watch 20.3 minutes of online video this year, nearly double the amount from last year. This number rises to as much as one hour a day consuming online video according to eMarketer predictions.
YouGov data claims the time people spend watching short video clips has almost trebled over the last three years (Sept 2014 to Sept 2017): from 51 minutes to 2 hrs 21 minutes per week.
The IAB’s chief executive Jon Mew said: “The time people spend watching online video has grown tremendously over the last few years, so it’s little wonder that video is now the fastest-growing ad format as advertisers look to tap into the changing way people consume content.”
Within video advertising, spend on outstream/social in-feed nearly doubled and is now the most popular format, accounting for 52% of video spend (£363m), overtaking pre-and post-roll ads which account for 44% (£309m).
Dave Counsell, digital trading director, the7stars, said: “There’s no doubt that video is digital’s most important and powerful format. Growth in online consumption, improvements in measurement, quality of placements, targeting and creativity are now available alongside its unrivalled effectiveness. It’s an extremely exciting time to witness the strong results video is providing for advertisers.”
Display advertising as a whole grew 18% to £2 billion, whilst search grew 15% to £2.8 billion and classifieds remained flat at £692m. Thus, overall digital ad spend grew 13.8% to £5.56bn in the first half of 2017.
With half of UK internet time now being spent on smartphones, mobile’s share of digital ad spend has risen from 35% to 43%, or £2.37 billion. Mobile’s year-on-year growth was 38% and now accounts for 57% of all display ad spend, 70% of video spend and 83% of social media spend.
Ad spend on social media sites grew 42% to £1.05 billion, accounting for over half (53%) of the display ad market. |
US's Eagle Prime beats Japan's Kurata in giant robot fight | US and Japanese robot firms went head to head in a battle of the bots recently streamed online, with the US's Eagle Prime emerging victorious against the Kurata robot. The match, which pitted California's MegaBots against Japan's Suidobashi Heavy Industries, came two years after the gauntlet had been thrown down by the US company. It is hoped the clash will pave the way for a fighting robot league and the creation of a billion-dollar sport. Eagle Prime weighs 11 tonnes, is 16-foot tall and is powered by a 430hp V8 engine.
| https://www.cnbc.com/2017/10/16/robots-face-off-us-megabots-vs-japans-suidobashi.html?mc_cid=cab0c0f35b&mc_eid=222ba8be72 | 2017-10-17 07:31:19.633000 | Team U.S.A. toppled Japan at the first-ever giant fighting robot showdown.
American robotics company MegaBots and its Japanese rival, Suidobashi Heavy Industries, fought for technological superiority in a battle that was streamed online Tuesday evening.
In the first round, Suidobashi's Kurata robot effortlessly knocked out an older MegaBots robot with a single punch, giving the Japanese team a decisive edge.
But the main fight, between the Kurata and MegaBots' new multi-million dollar, massive Eagle Prime, ended in favor of the Americans.
Eagle Prime, bigger and heavier than the Kurata, produced a chainsaw that systematically took out the Japanese robot until the match was ended and the winner announced.
The MegaBots team expressed hope for a formal fighting robot league in the future after the match. |
Time-based ads appear to have limited success for publishers | Time-based ads, which are sold on the basis of how long they will be viewed, are prompting some publishers to reconsider their use. Paul Rossi, the president of the Economist Group's media businesses, said campaigns using the ad form haven't grown since 2016, while the Guardian is evaluating the results of a pilot. In contrast, the Financial Times is bullish about time-based ads. Marc Guldimann, the CEO of Parsec, a time-based ads seller, said: "It takes a very specialised sales force to explain the value proposition to an advertiser or agency, which is why it’s tough for a publisher."
| https://digiday.com/media/conversation-moved-time-based-ad-sales-hit-wall/?utm_medium=email&utm_campaign=digidaydis&utm_source=uk&utm_content=171017 | 2017-10-17 07:29:54.697000 | The brand-safety crisis this year has had a number of casualties, from news publishers to content creators who tackle delicate subjects. It may be time to add time-based sales to that list.
A couple years ago, a handful of publishers started pushing the idea of selling ads based on readers’ time rather than impressions as a way of addressing the problem of ads going unseen and ad rates spiraling down. Conferences were held; case studies were touted, arguing that the longer someone stares at an ad, the more they’ll remember it.
Time-based selling’s time hasn’t come, though. The Economist, one of its early proponents, said time-based ad campaigns aren’t growing for the publisher. The Economist expects to sell around 20 campaigns this year, said Paul Rossi, president of The Economist Group, which is about the same number it sold in 2016.
“The time-based thing came out of a time when ad blocking, viewability was the conversation,” Rossi said. “Today, the conversation is about trust and brand-safety environments. The conversation has moved on. Viewability got solved when big buyers started to put in minimum requirements.”
The Financial Times, the other publisher that has been at the forefront of time-based selling, gave a rosier outlook. The FT said it’s sold 22 years of audience attention this way, with a lot of that being repeat business, said Jon Slade, chief commercial officer for the FT.
“Demand remains very positive, particularly as clients are given increasing reasons from the broader ecosystem to doubt the quality of digital advertising,” Slade said via email.
A third publisher that tried time-based sales, the Guardian, said it’s still evaluating the results of a pilot campaign it ran as it decides how to move forward.
Not all agree that brand-safety talk has crowded out time-based sales. Another view is that the brand-safety issue actually makes advertisers more conscious of where they’re placing their ads. It’s just that it’s still new. Time-based selling was never an easy sell because it doesn’t fit the way agencies buy ads.
“It takes a very specialized sales force to explain the value proposition to an advertiser or agency, which is why it’s tough for a publisher,” said Marc Guldimann, founder and CEO of Parsec, one of a few vendors focused on time-based selling. “It’s about us telling the story. Anything new, it takes people three or four times hearing about it to resonate.”
Parsec buys mobile inventory from publishers including Time Inc., Dow Jones and USA Today and resells it based on time to advertisers including Dell, Dodge and McDonald’s, sharing the revenue with the publisher. It’s sold 200 campaigns in the past two years, with the number roughly doubling in the second year, and its staff has nearly tripled to 36 people, Guldimann said. But the dollar amount the campaigns represent is just over $10 million, which is a drop in the bucket in the scheme of things. Parsec was behind one of the attention conferences held last year; this year, it’s focused its energy on making presentations directly to agencies.
“It’s still pretty nascent,” he said. “There’s a lot of work left to do.”
The idea that publishers would start to charge on time spent with their content was driven by publishers trying to wring more revenue from their offerings rather than loud demand from advertisers or brands, said Maikel O’Hanlon, vp of social media strategy and relationship marketing at Horizon Media.
“As such, the traction has been slow to nonexistent because you need both sides recognizing value in such a paradigm,” he said. |
Netflix content spending could reach $8bn next year | TV streaming service Netflix will spend between $7bn and $8bn on original programming next year, including movies, as it seeks to stay ahead of rivals such as Hulu and Disney. In a Q3 2017 earnings announcement, Netflix revealed much of its third-quarter growth came from international markets, which made up 4.5 million of its 5.3 million additional subscribers in the period. The firm also reported revenues of $3bn, up 30% from Q3 2016, and net income of $130m, which, although short of Wall Street's predicted $143m, was far above the $52m from the same period last year.
| https://www.nytimes.com/2017/10/16/business/media/netflix-earnings.html | 2017-10-17 07:28:25.290000 | Netflix will spend between $7 billion and $8 billion on content in 2018, up from the roughly $6 billion it will spend this year, the streaming service said while announcing its third-quarter earnings on Monday.
Netflix added 5.3 million subscribers in the quarter, surpassing expectations, and had revenue of nearly $3 billion, a 30 percent increase from the same period last year. The company also saw its net income rise to $130 million, well over last year’s third quarter total of $52 million but short of the $143 million that Wall Street expected.
In after-hours trading, Netflix’s shares inched up 1.2 percent, just days after its stock surpassed $200 for the first time.
Netflix now has 104 million paid subscribers, and saw the bulk of its third-quarter growth come from international markets, which accounted for 4.5 million of its new subscriptions. |
Robot surgeon performs intricate cuts better than a human | The team behind the Smart Tissue Autonomous Robot (Star) have demonstrated how the semi-autonomous device can cut more accurately than a human surgeon. Star combines a near-infrared camera that monitors how marks move when its electrosurgical cutting tool makes incisions, allowing it to readjust as it works. In a recent experiment at a conference, Star outperformed its human counterparts by making straight and less damaging two-inch cuts. Last year, the team behind the robot demonstrated its ability to suture a pig bowel.
| https://www.technologyreview.com/the-download/609144/this-robotic-surgeon-cuts-cleaner-than-a-human/ | 2017-10-17 07:26:14.043000 | One day, this machine might slice into you.
Called Smart Tissue Autonomous Robot (STAR), the semi-autonomous device uses a near-infrared camera to constantly monitor how predefined marks on tissue move in relation to its cutting tool, according to IEEE Spectrum. That allows it to make particularly accurate incisions by readjusting as it goes. While STAR needs the marks to be placed by a human, it takes care of the cutting by itself.
Armed with an electrosurgical tool, which uses electrical currents rather than a scalpel blade to cut tissue, it can deftly slice through skin, fat, and muscle. In fact, in experiments presented at a recent conference, STAR was able to make more accurate (and less damaging) straight two-inch cuts than human surgeons, and it accurately excised a fake tumor from a chunk of pig fat.
This isn’t STAR’s first rodeo, though. Last year, the team behind it also showed that it was able to stitch together soft tissue with a needle and thread in order to repair pig bowels more accurately than human doctors. All of which suggests that STAR’s path to the OR might not be quite as far-fetched as it initially sounds. |
Cushman & Wakefield sees 34 new malls opening in India by 2020 | India's top eight cities, including Chennai, Kolkata, Mumbai and Pune, are set to see a boom in shopping centres, with around 34 built in the next three years, according to Cushman & Wakefield. The property consultancy firm said the retail sector was bouncing back after a slowdown in growth, with even e-commerce businesses investing in bricks-and-mortar premises. The new centres will total around 13.6 million sq ft and follow a 55% uptick in mall leasing between January and September.
| http://www.thehindubusinessline.com/news/real-estate/34-malls-to-be-developed-in-8-cities-by-2020-cushman-wakefield/article9908257.ece | 2017-10-17 07:18:03.500000 | International property consultancy firm Cushman & Wakefield estimates that India will see close to 34 new malls by 2020 in the top eight (Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Hyderaqbad, Kolkata, Mumbai and Pune) Indian cities.
Hyderabad with 11 new malls will see the highest construction by 2020 while Delhi-NCR and Bengaluru are likely to add eight and six new malls respectively. At about 13.6 million square feet (msf), the new supply will add about 20 per cent to the available mall inventory in these cities.
Rise in demand The retail sector has been encouraged by an upward trend in mall space leasing, which was up by 55 per cent during January–September 2017, recorded at 2.3 msf. New supply for the same period saw a year–on–year (y-o-y) decline of 63 per cent at 1.9 msf.
Anshul Jain, Country Head & Managing Director, India, Cushman & Wakefield, said, “There is now a regained confidence among developers to pay heed to this sector as investors show greater commitment towards it. An estimated ₹79.59 billion has been invested by private equity funds in malls between January 2016–September 2017.”
“Now after a prolonged period, slow growth, the retail sector has regained momentum and its trust in traditional brick and mortar retail space acknowledging the role that will play in the future growth of the sector. Increasingly it is understood that retail malls will continue to hold importance as a ‘destination’ going beyond stores and selling. Consequently, even e-commerce companies are establishing a physical presence through ‘experience’ stores in many malls and on prominent high streets,” he added.
Hyderabad boom Hyderabad will more than double its current mall inventory of under 3 msf to over 6 msf by 2020. The new malls will be spread across the city in areas of Madhapur, Gachibowli, Panjagutta, Begumpet, and Uppal amongst others.
Delhi NCR and Bengaluru will contribute about 4 msf and 3 msf of additional mall spaces respectively. The only city that is not expected to see any change in their current mall scenario will be Ahmedabad where, as of now, there are no new announced projects for malls. Ahmedabad has remained a largely high street mall due to customer preference to remain at their traditional locations for retail activities. |
Icelandic plant captures CO2 from air and turns it into stone | Icelandic start-up Climeworks has built a carbon capture system that removes CO2 from the air and turns it into stone. Reykjavic Energy's geothermal plant in Hellisheidi uses similar technology to the CarbFix system, taking CO2, mixing it with water, then injecting it 700 meters underground, where it reacts with basaltic rock and forms minerals. Direct air capture has historically been considered as too expensive to be practical. However, Climeworks shows that if capturing direct air could be made cheap enough to become commercially viable, then the economics could work. | https://qz.com/1100221/the-worlds-first-negative-emissions-plant-has-opened-in-iceland-turning-carbon-dioxide-into-stone/ | 2017-10-17 07:00:50.527000 | There’s a colorless, odorless, and largely benign gas that humanity just can’t get enough of. We produce 40 trillion kg of carbon dioxide each year, and we’re on track to cross a crucial emissions threshold that will cause global temperature rise to pass the dangerous 2°C limit set by the Paris climate agreement.
But, in hushed tones, climate scientists are already talking about a technology that could pull us back from the brink. It’s called direct-air capture, and it consists of machines that work like a tree does, sucking carbon dioxide (CO2) out from the air, but on steroids—capturing thousands of times more carbon in the same amount of time, and, hopefully, ensuring we don’t suffer climate catastrophe.
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There are at least two reasons that, to date, conversations about direct air capture have been muted. First, climate scientists have hoped global carbon emissions would come under control, and we wouldn’t need direct air capture. But most experts believe that ship has sailed. That brings up the second issue: to date, all estimates suggest direct air capture would be exorbitantly expensive to deploy.
For the past decade, a group of entrepreneurs—partly funded by billionaires like Bill Gates of Microsoft, Edgar Bronfman Jr. of Warner Music, and the late Gary Comer of Land’s End—have been working to prove those estimates wrong. Three companies—Switzerland’s Climeworks, Canada’s Carbon Engineering, and the US’s Global Thermostat—are building machines that, at reasonable costs, can capture CO2 directly from the air. (A fourth company, Kilimanjaro Energy, closed shop due to a lack of funding.)
Over the past year, I’ve been tracking the broader field of carbon capture and storage, which aims to capture emissions from sources such as power plants and chemical factories. Experts in the field look at these direct-air-capture entrepreneurs as the rebellious kids in the class. Instead of going after the low-hanging fruit, one expert told me, these companies are taking moonshots—and setting themselves up for failure.
Climeworks just proved the cynics wrong. On Oct. 11, at a geothermal power plant in Iceland, the startup inaugurated the first system that does direct air capture and verifiably achieves negative carbon emissions. Although it’s still at pilot scale—capturing only 50 metric tons CO2 from the air each year, about the same emitted by a single US household or 10 Indian households—it’s the first system to convert the emissions into stone, thus ensuring they don’t escape back into the atmosphere for the next millions of years.
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Defying physics?
The impossibility of direct air capture can be illustrated by simple physics. Imagine if you were allowed to eat as many M&M’s as you wanted—as long as you only eat red ones. If in a bag of M&M’s there was one red M&M for every 10 pieces of candy, it would be easy to find them and eat them with glee. But imagine if the concentration fell to one in every 2,500. You might give up searching for even a single M&M.
At a coal-power plant, the exhaust flue gas contains about 10% carbon dioxide (i.e., about one in 10 gas molecules are CO2). Capturing the greenhouse gas at these relatively high concentrations requires less energy than capturing it from the air, where it is present at just 0.04% concentration (about one in 2,500 gas molecules). A 2011 report from the American Physical Society estimated that it may cost between $600 and $1,000 per metric ton of CO2 captured from the air. Capturing it at the source—at a coal-burning plant, for example—could cost less than one-tenth of that.
But air capture still matters. First, we currently don’t have any possible way to deal with CO2 released by cars, ships, and planes. Second, because we are on track to emit more CO2 than we need to keep under the 2°C limit, we likely need a means of sucking back up some of that extra greenhouse gas.
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Consider the chart below. It shows our historical emissions and then projects emission targets required to hit climate goals. Sadly, however, “approximate emission pledges” made under the Paris climate agreement show our emissions increasing, when they should be decreasing (following the trajectory shown in red on the chart).
Most systems to capture CO2 depend on a process called “reversible absorption.” The idea is to run a mixture of gases (air being the prime example) over a material that selectively absorbs CO2. Then, in a separate process, that material is manipulated to pull the CO2 out of it. The separated CO2 can then be compressed and injected underground. Typically there’s a limited supply of the absorbing material, so it will get put through the cycle once again to capture more of the greenhouse gas.
Climeworks and Global Thermostat have piloted systems in which they coat plastics and ceramics, respectively, with an amine, a type of chemical that can absorb CO2. Carbon Engineering uses a liquid system, with calcium oxide and water. The companies say it’s too early in the development of these technologies to predict what costs will be at scale. “It’s like if you asked someone in 1960 what the cost of commercial rockets would be today,” says David Keith of Carbon Engineering. What they are willing to share are cost targets.
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Jan Wurzbacher, Climeworks’s director, says it hopes to bring costs down to about $100 per metric ton of carbon dioxide. That’s close to the price Carbon Engineering is targeting, according to Geoffrey Holmes, the company’s business development manager. Peter Eisenberger, co-founder of Global Thermostat, says their technology will be even cheaper: when scaled up, he says, costs will drop to as low as $50 per metric ton. (Intriguingly, the startup’s projected capture cost seems to be inversely proportional to the money each says it has raised: about $15 million in private investment for Climeworks and Carbon Engineering, and $50 million for Global Thermostat.)
Each of the startups has built a functional pilot plant to prove their technology, with the ability to capture hundreds of kg of CO2. And all boast that their tech is modular, meaning they can build a direct air capture plant as small or large as somebody is ready to pay for. Even at $50 per metric ton of capturing emissions, if we have to capture as much as 10 billion metric tons by 2050, we are looking at spending $500 billion each year capturing carbon dioxide from the air. It seems outrageous, but it may not be if climate change’s other damages are put in perspective—and that’s what these startups are betting on.
Global Thermostat’s pilot plant in Stanford Research Institute in Palo Alto was sitting idle when I visited it. Carbon Engineering is waiting to build out the technology more—including the ability to convert captured CO2 into fuels—before it starts scaling up its business. Only Climeworks has been able to show success in commercial applications.
In May this year, Climeworks set up its first commercial unit near Zurich, Switzerland, capturing about 1,000 metric tons of CO2 from the air each year (equivalent to 20 US households’ annual emissions). The captured CO2 is supplied to a nearby greenhouse, where a high concentration of the gas boosts crop yield by 20%.
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But the company’s newest installation in Iceland is even more impressive, because it’s the first true “negative emissions” plant.
Buried once and for all
To build it, Climeworks first needed a “carbon-neutral” power plant. They found one in Hellisheidi, Iceland, where the public utility company Reykjavik Energy runs a geothermal power plant. The Hellisheidi plant, about 15 miles (25 km) southeast from the capital Reykjavik, uses naturally occurring heat from a volcanically active region to produce electricity and heat, by pumping water through an underground network of pipes. As the water travels underground, it heats up and turns into steam which can be used to run turbines. The plant produces about 300 MW of electricity (enough to power 200,000 American households) and about 130 MW of heat.
Though geothermal is a clean energy source, the process of recovering heat releases gases—a mixture of carbon dioxide, hydrogen sulfide, and hydrogen. It’s not a massive amount of CO2—for each unit of energy produced, a geothermal plant produces 3% of the carbon emissions of a coal-fired power plant—but it’s still something.
In 2014, Reykjavik Energy along with the help of academics in the US, Europe, and Iceland, formed a project called CarbFix to test technology to get rid of the small amount of gases it does produce. And since the Paris climate agreeement, the utility company has been ramping up its emissions-reduction efforts to help Iceland reach its country-wide goals.
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Instead of using reversible absorption, CarbFix uses Iceland’s plentiful natural resources to capture carbon dioxide. Every time you open a can of soda, you are drinking dissolved CO2 in water. The Hellisheidi plant works on a similar principle. When the gases released from geothermal vents are mixed with water, they get absorbed ever so slightly. The mixture—27 kg of fresh water for each kg of CO2—is then injected 700 meters underground.
In a 2016 study, scientists found that the carbon dioxide in these water mixtures was reacting with Iceland’s vast basaltic rock—dark igneous rock usually found under ocean floors—to form minerals. This process usually takes hundreds or thousands of years, but what was surprising in Iceland was that the mineralization occurred in less than two years. The speed probably has something to do with the unique local geology. Sandstone aquifers—which have been the most well-studied type of rock system when it comes to carbon dioxide-injection systems—react very slowly with CO2. Basalt rock, on the other hand, seems to react much more quickly, likely because of the presence of metals like iron and aluminum.
The study showed, for the first time, that storing carbon dioxide underground is easier and safer than it has been made out to be. Once locked into the minerals, the carbon dioxide cannot enter the atmosphere for millions of years. Better still, this sort of basalt rock is present in large deposits around the world—enough to take in many decades of fossil-fuel emissions, direct air capture, and more.
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Over the past three years, more than 18,000 metric tons of CO2 have been injected into the ground as part of the project, according to Edda Aradóttir, a CarbFix geologist. Moreover, they’ve been able to do it for less than $30 per metric ton of CO2.
World-saving technology
This month, Climeworks installed a unit that captures carbon dioxide directly from the air and transfers it to CarbFix to inject underground. Because CarbFix has been monitoring the injection sites for the last three years, they can be sure there will be no leakage. And once mineralized, the CO2 will remain trapped for thousands or millions of years. This makes the Climeworks-CarbFix system the world’s first verified “negative emissions” plant.
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(A chemical plant in Chicago, where Archer Daniels Midland ferments corn to produce ethanol, claims to be a negative-emissions plant. The company says that because corn consumes CO2 to grow in the first place, even though fermentation releases CO2, it is carbon neutral—simply returning what it took from nature. If you then capture and inject those emissions underground, you could technically consider it negative emissions. But experts haven’t yet run the numbers to verify Archer Daniels Midland’s claim.)
Climeworks says it is now looking to customers who want to buy their way into programs that cut their emissions. The delivery company DHL, for example, has committed to reaching zero emissions by 2050. But even if they move their entire road vehicle fleet to run on all electric cars, there is currently no technology to cut emissions from the airplanes DHL relies on. The hope is that DHL will pay money to Climeworks to bury those excess emissions into the ground.
Academics used to think that direct air capture would be too expensive for any practical purposes. They still tend to think that for carbon capture and storage more broadly. But what Climeworks and its competitors are showing is that, if direct air capture can be made cheap enough for there to be commercial interest, then the economics of carbon capture at point-sources will likely work, too. And if nothing else, the existence of direct air capture gives humanity a high-premium insurance policy against what would surely be a much more expensive disaster.
🌍 Quartz is running a series called The Race to Zero Emissions that addresses the challenges and opportunities of carbon-capture technology. Sign up here to be the first to know when stories are published.
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The reporting was supported by a fellowship from the McGraw Center for Business Journalism at the City University of New York Graduate School of Journalism. |
Blockchain-backed insurance policy market in development | Singapore-based start-up fidentiaX is developing an exchange for insurance policies, backed by blockchain. The company's goal is to create a trusted marketplace for policyholders to trade policies without the need for multiple intermediaries to get involved. The company is planning an initial launch of the marketplace in Asia with Hong Kong, Japan, South Korea, Malaysia and Singapore the targeted jurisdictions. | https://www.enterprisetimes.co.uk/2017/10/17/tradeable-insurance/ | 2017-10-17 06:50:18.607000 | fidentiaX is in the developmental phase of creating a blockchain-backed market for tradeable insurance policies. By basing this on blockchain technology it hopes to disrupt the insurance status quo – by empowering policyholders to monetise policies. fidentiaX will focus on building its operations within Asia before executing an global expansion strategy. In Asia, its key countries are Hong Kong, Japan, Korea, Malaysia and Singapore.
With its base in Singapore, fidentiaX will promote its concept by setting up the ‘fidentiaX Open Source Foundation’ (fSOF). The Foundation’s obkective will be to promote the embracing of blockchain technology by the insurance industry.
The tradeable insurance opportunity
In 2016 alone, the OECD estimated the market size for insurance premiums in the 40 OECD reporting countries as being >US$3.8 trillion. The expectation is that Asia will be the fastest-growing market for life insurance, with an estimated real annual compounded growth rate of >10%.
But the tradable insurance market possesses many inefficiencies. These include:
lack of awareness: in general policyholders are unaware that policies are tradeable assets which could be sold in the open market (in 2015, out of the US$112 billion worth of policies surrendered in the U.S., 250K policies worth US$57B had the potential for resale).
no recognizable marketplaces: the lack of any makes it challenging (if not impossible) for sellers and buyers to connect
dependency on third parties: on the rare occasions when sellers and buyers connect, both parties often need to place trust in a ‘middleman’ to complete the transaction.
The fidentiaX marketplace and how it might work
fidentiaX’s marketplace have a membership-model. It will promote an ecosystem focusing on key stakeholders. It intends to provide the following services:
policy ledger: this will break traditional reliance on intermediaries, by creating a digital ledger for policyholders
trustless marketplace: the platform for buyers and sellers to connect and trade policies via a blockchain.
How might this work? Consider the following steps:
List: Policyholders looking to extract value from tradeable insurance policies will submit the policies to the fidentiaX blockchain-powered platform, thereby gaining access to buyers on the platform; buyers can then browse and select policies which meet their investment objectives
Offer: interested buyers will complete relevant documentation and deposit funds on the platform; sellers will receive notification that funds are secure; the relevant documentation will communicate between both parties
Submit: the seller, armed with the assurance that funds are in-place, approaches the insurance company to effect the transfer of policy to the new owner; this will deliver to the seller documentary proof that policy has transferred
Complete: sellers upload this documentary proof of the transfer onto fidentiaX blockchain whereupon verification occurs; After this verification, the documentation goes to the buyer and the funds releases to the seller (which occurs simultaneously).
What does this mean?
Insurance policies are notoriously opaque at the best of times. Insurance policy issuance and redemption is even more so. In general, the insurance industry has successfully perpetuated the separation of customers from the value of what those customers buy, except on the issuer’s specific terms. Put another way, it is as if the bank issues a mortgage and then tells you when and to whom you can sell your home.
Whether fidentiaX can succeed is open to question (there are others eyeing the same broad opportunity). It is far too early to tell. What attracts are the twin notions of eliminating middlemen (the estate agents for insurance policies) and opening up an electronic, blockchain-based ‘arena’ (marketplace) where sellers can find buyers. In the insurance industry this would be revolutionary.
As Darwin Bayston, President and CEO of LISA (the Life Insurance Settlement Association ) wrote in 2015: “The number and amount of lapsed life insurance policies by U.S. seniors over age 65 is astounding: more than 250,000 policies with a combined face value of more than $57B are lapsed and surrendered back to life carriers each year. The average face value of those policies is approximately $225,000. And that only includes universal and variable life policies that most people think are best-suited for life settlements. If term life is added, which often includes policies that are also attractive for life settlements, and ordinary life policies, the total exceeds $112B.”
And that is in the USA alone. |
Octopus's shape-shifting ability inspires soft robotics 'skin' | Engineers from Cornell University and the University of Pennsylvania have collaborated with cephalopod expert Roger Hanlon to develop a programmable fabric inspired by octopus and cuttlefish skin, according to an article in Science. The team created a silicone-based elastomer and combined it with non-woven fabric, while an algorithm inflated the elastomer to a size and shape dictated by the team. The project, backed by the US Army Research Office, is still in the early stages but has numerous possible applications, including flexible, adaptable interfaces in cars. | http://www.cbc.ca/news/technology/octopus-camouflage-engineers-1.4353331 | 2017-10-17 06:35:42.787000 | Engineers working in a field called soft robotics have taken inspiration from the shape-shifting ways of the octopus to develop a programmable 3D material that can change its appearance.
Their invention, reported Thursday in the journal Science, could have far-reaching applications ranging from high-tech military camouflage to smart devices that change their interfaces to suit users' needs.
"If you think about robots today, you think of robots that are hard and made of steel. They're rigid and they dance funny," said James Pikul, lead author of the paper, who developed the material with colleague Robert Shepherd at Cornell University in Ithaca, N.Y.
With projects engineers are working on today, we could one day see robots with soft, human-like skin, or capabilities that allow them to change their shape, said Pikul. "This is an active field of robotics that's still developing. There's nothing really that's fully been commercialized yet."
One of the challenges in this field is controlling the soft materials, which Pikul likens to trying to compress an inflated balloon into the shape of a cube using only your 10 fingers.
So, as engineers often do, he said, they looked to nature for some inspiration. This time they found it on the ocean floor.
'They can do all these amazing things'
Marine animals called cephalopods — a group that includes the octopus and the cuttlefish — have no skeletal system, yet they're able to swim, crawl, change the texture and colour of their skin and even run along the bottom of the ocean.
"We were looking at these creatures because they have very similar characteristics as the materials we're looking at but they can do all these amazing things," said Pikul, now an assistant professor of mechanical engineering at the University of Pennsylvania.
The two studied the work of leading cephalopod expert Roger Hanlon, a biologist at the Marine Biological Laboratory in Massachusetts, and then reached out to him as a collaborator.
Pikul said Hanlon helped them understand the unique surface of the octopus and the cuttlefish, which is dotted with bumps called papillae — tiny little muscle groups that protrude and retract to help the animals alter their shape to blend in with their surroundings.
"These are soft-bodied molluscs without a shell," said Hanlon in a written statement about the paper, for which he is a co-author. "Their primary defence is their morphing skin."
The animals can mottle the surface of their bodies to help them hide in sea vegetation, then smooth themselves back out again so they can move swiftly through the water.
Now you see it, now you don't
So using a balloon-like silicone material — "kind of like those Silpats that people bake with" — and non-woven fabric usually used for embroidery, the two engineers came up with something that would equally impress your home-ec and shop teachers.
That silicone material, also known as an elastomer, was layered with rings of the embroidery fabric, which would constrain it as it inflates.
James Pikul, now an assistant professor at the University of Pennsylvania, is one of two engineers who developed the material. (James Pikul/University of Pennsylvania)
A computer algorithm then calculated the slope of the desired shape the engineers wished to achieve, and controlled the inflation of the elastomer using the correct amount of air pressure.
While this area of research is still new, potential future applications are numerous.
"One of the things that we're really interested is this idea of vanishing interfaces," said Pikul.
Consider the dashboard on your vehicle as one example: "It's flat, it almost looks like leather and there's not much there," he said.
"If you had the material that we engineered, you could inflate it, and then coming out from that leather could be a joystick that you use to drive your car, or it could be a display. It could be a 3D map … showing you all the buildings in your city and where you are located, instead of a two-dimensional map.
"You'd have this cool interface — and when you don't need it anymore, it disappears and looks like a dashboard again."
The research was supported by the U.S. Army Research Office, which was interested in both the camouflaging capabilities of the material and the potential behind soft robotics in general, said Pikul. |
Alphabet starts testing burrito delivery drone in Australia | Project Wing from Alphabet's X lab is making the most of Australia's looser regulations and is partnering with two businesses to test drone deliveries to people's homes. Partnerships with pharmacy chain Chemist Warehouse and Mexican food outlet Guzman y Gomez in Australia followed Project Wing's tie-up with Chipotle in the US last year. "The more test deliveries we do, exposing the sensors on our aircraft to new delivery locations, the smarter our aircraft’s algorithms will one day become at picking a safe spot for deliveries," said project co-lead James Ryan Burgess. | https://www.theverge.com/2017/10/16/16486208/alphbet-google-project-wing-drone-delivery-testing-australia | 2017-10-17 06:24:21.637000 | Project Wing, the drone delivery initiative of Google-owner Alphabet’s X lab, has partnered with two Australia businesses to further test its technology. In a new blog post published today on Medium, project co-lead James Ryan Burgess detailed the division’s recent progress toward bringing drone delivery to the masses, which has involved working with selected testers in a number of specialized markets. Last year, Wing launched a pilot program with the Virginia Tech thanks to a Federal Aviation Authority-approved partnership with Chipotle.
Now, partnerships with two new businesses — a Mexican food chain called Guzman y Gomez and pharmacy chain Chemist Warehouse — mark the first time Wing’s drones will be delivering third-party products in Australia to individual homes. Australia is a more fertile testing ground for drone delivery technology because of its lax regulatory environment, meaning Wing had to deliver to Virginia Tech students last year in a large open field. (Strict FAA regulations, along with leadership changes, have also made it difficult for Wing to secure more partnerships in the US.) The team can now gather valuable data from having its drones maneuver obstacles in real-world neighborhoods in Australia, while delivering burritos and medicine along the way.
Project Wing is now sending drones to people’s individual homes
“The sensors on our aircraft are responsible for identifying obstacles that might appear during a flight or delivery, like a car parked in an unexpected spot, or outdoor furniture that’s been moved,” writes Burgess. “The more test deliveries we do, exposing the sensors on our aircraft to new delivery locations, the smarter our aircraft’s algorithms will one day become at picking a safe spot for deliveries.”
We’re still years away from the vision being chased by both Project Wing and Amazon’s Prime Air. The ultimate goal is to create a robust system that can speed up delivery times and bring near-instant shipping to markets like food and grocery providers and drug and convenience stores. This is crucial for a company like Amazon, which is trying to increase efficiency at all costs and cut out middlemen in its logistics chain. (Amazon is primarily testing its delivery drones in the UK, which is also more accommodating than the US with regards to aircraft regulations.)
A Guzman y Gomez employee preparing to load a Project Wing drone with a food order using a hook and winch system. Photo: Google
For Alphabet, it’s less clear what the ultimate goal of its drone delivery ambitions are. “The information we gather from both of these test partners will help us build a system so that merchants of all kinds can focus on what they’re good at — like making food or helping people feel healthier — rather than being distracted by complex delivery logistics,” writes Burgess. It’s clear Alphabet wants its technology to play a part in whatever shape unmanned aerial systems do take in the future, perhaps both as a mapping and a drone software play.
Still, to help drone delivery truly takeoff, companies and regulators will need something akin to a federal air traffic control system exclusively for drones, to help pre-planning of routes, avoid collisions, and ensure the relative safety of pedestrians and animals. This could be Alphabet’s eventual goal: creating the software backbone of the air traffic control system for drones. |
Redrow Redrow staff complete Three Peaks Challenge for Prostate Cancer UK | A team of 11 staff members from UK house builder Redrow recently undertook the Three Peaks Challenge in Wales, raising £5,354 ($7,000) for national charity Prostate Cancer UK. The team climbed Pen Y Fan, Cadair Idris and Snowdon in 24 hours, while Redrow project manager Joe Underwood, who helped organise the event, said it had been an "incredibly eventful" day.
| https://www.cardiff-times.co.uk/redrow-rise-waless-3-peaks-challenge-support-prostate-cancer-uk/ | 2017-10-17 06:07:01.170000 | Redrow Homes continue to show support to their 2016/17 chosen charities as they complete Wales’s 3 Peaks Challenge, raising a total of £5,354.50 for Prostate Cancer UK.
A team of 11 staff took on the gruelling challenge, which involved climbing Wales’s 3 highest mountains; Pen Y Fan, Cadair Idris and Snowdon in just one day. The team started at 4am and braved the cold autumnal weather to impressively summit all 3 peaks just after 8pm, walking a distance of 20.35 miles and ascending a total of 9,397 ft in the process.
Redrow Project Manager, Joe Underwood, who played a key role in organising the event, said: “We completed a virtual race night for our other chosen charity, Coppafeel, in the summer so it was only right that we completed the 3 Peaks for Prostate Cancer UK.”
The majority of funds raised by Redrow were through the creation of a JustGiving page, which was set up solely for the event. Fundraising requests were primarily sent out to Redrow South Wales’s consultants and contractors, as well as staff and family members.
Joe continued: “It was a comedy of errors from the very first training session. From Sean Halpin eating two Mars bars in ten minutes and falling ill, to Harrison Jones cutting his chin and the mini bus sat navs taking us in every wrong direction, we had an incredibly eventful day and one we’ll all remember for a while to come!
“One of the biggest highlights was definitely watching the sunrise on the top of Snowdon – it was a true spectacle. Everyone who took part gave their all and it was brilliant to take on a new adventure together while also raising money for such a worthwhile charity.”
James Beeby, Director of Fundraising at Prostate Cancer UK, said: “We’re incredibly grateful to Redrow and Joe for their triumphant efforts in completing the 3 Peaks Challenge and supporting Prostate Cancer UK. It is an incredible effort, one that will help us make prostate cancer a disease that the next generation of men need not fear.
“Currently one man dies every 45 minutes from prostate cancer in the UK. That’s more than 11,000 men a year and by 2030, prostate cancer is set to become the most commonly diagnosed cancer of all in the UK. So whatever you do together, big or small, you’ll be helping us push for real change, from more effective testing to better treatments.” |
UK housing market needs to be disrupted, says think-tank Localis | The UK government needs to undertake a "deep-rooted and disruptive reform of the housing market" if it is to prevent the "accelerated decline of the home-owning democracy", according to a report by think-tank Localis. It called on the government to reform saving for mortgage deposits, demanded greater intervention in the housebuilding industry and a clearer strategy on the use of public land. The report also criticised shorthold tenancy agreements as "not fit for purpose" for families and said the Grenfell Tower disaster threw the "shortcomings" of the state's approach to housing into sharp relief.
| http://www.localis.org.uk/research/disrupting-housing-market/ | 2017-10-17 06:06:04.330000 | Disrupting the Housing Market
A policy programme to save the home-owning democracy
Author: Jack Airey | 15/10/2017
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Disrupting the Housing Market
A policy programme to save the home-owning democracy
The number of homes bought by people aged twenty-five to forty-four with a mortgage has dropped by over 1.6 million in just over a decade. Over the same period the number of homes owned outright by people aged over sixty-five increased by over 1.4 million. What we are witnessing is the accelerated decline of the home-owning democracy and this should trouble us because it is an inheritance worth preserving.
As this report makes clear this is for reasons of cost, quality and security, but for more visceral reasons too. It is a bulwark against populism and radicalisation: when you have a tangible stake in society you are less likely to want tear it down. Most importantly home-ownership is an important life ambition, one that recent generations have enjoyed and future generations should too.
This report, however, is not blind to major structural challenges besetting the housing market. There is a clear connection between the hallmarks of the private rental sector and the ability of people to accrue enough capital to own their own home. Deep rooted and disruptive reform of the housing market is required. This report puts forward a policy programme to reform the private rental sector in order to extend the franchise of a home-owning democracy to future generations.
Key points and recommendations
Government should reform mortgage deposit saving . Fifty-eight percent of people who do not already own their home (outright or with a mortgage) are saving nothing at all each month for a deposit to buy a home in the future. Just twenty-three percent are saving anything. To prevent home-ownership being a preserve of the old and wealthy, the auto-enrolment of employees aged 18-40 to pension schemes by employers should include an option to make contributions towards a Lifetime ISA. Employees, employers and government would make contributions towards deposits (in place of, rather than on top of, pension contributions).
. Fifty-eight percent of people who do not already own their home (outright or with a mortgage) are saving nothing at all each month for a deposit to buy a home in the future. Just twenty-three percent are saving anything. To prevent home-ownership being a preserve of the old and wealthy, the auto-enrolment of employees aged 18-40 to pension schemes by employers should include an option to make contributions towards a Lifetime ISA. Employees, employers and government would make contributions towards deposits (in place of, rather than on top of, pension contributions). An approach to the green belt based on public welfare . The green belt is a part of the welfare state and yet it does not serve public welfare. Local authorities should be compelled to prepare, maintain and publish ‘yellowfield’ registers: land which does not meet the five purposes that green belt land serves.
. The green belt is a part of the welfare state and yet it does not serve public welfare. Local authorities should be compelled to prepare, maintain and publish ‘yellowfield’ registers: land which does not meet the five purposes that green belt land serves. A programme of new towns in the South East . London’s reach extends well beyond its borders, but there is little to no strategic direction for the planning and delivery of new homes to meet the city-region and wider area’s demand. Government should fill this gap by directing a next generation of new towns.
. London’s reach extends well beyond its borders, but there is little to no strategic direction for the planning and delivery of new homes to meet the city-region and wider area’s demand. Government should fill this gap by directing a next generation of new towns. Disruptive state intervention in the housebuilding industry. To achieve greater diversity in business models, product and construction methods, government should: 1) Allow small sites that are brownfield or infill to qualify as permitted development. 2) Directly invest in modular and new technology housing factories. 3) Weight subsidy towards rewarding housebuilders who use off-site construction methods.
To achieve greater diversity in business models, product and construction methods, government should: 1) Allow small sites that are brownfield or infill to qualify as permitted development. 2) Directly invest in modular and new technology housing factories. 3) Weight subsidy towards rewarding housebuilders who use off-site construction methods. A more direct use of public land is necessary . Government needs a clearer strategy on disposal of land and assets by its own departments. This should include wider and more accessible public data coverage of non-operational sites and more pro-active departmental business models.
. Government needs a clearer strategy on disposal of land and assets by its own departments. This should include wider and more accessible public data coverage of non-operational sites and more pro-active departmental business models. The private rental sector needs to be made family-friendly . Last year 4.5 million households rented privately of which 1.6 million were households with dependent children. For this group assured shorthold tenancy agreements are not fit-for-purpose. Government should reform legislation to allow private tenants to choose their initial tenancy length at six month intervals up to thirty-six months, with a one month break option after six months.
. Last year 4.5 million households rented privately of which 1.6 million were households with dependent children. For this group assured shorthold tenancy agreements are not fit-for-purpose. Government should reform legislation to allow private tenants to choose their initial tenancy length at six month intervals up to thirty-six months, with a one month break option after six months. Saving the home-owning democracy demands a collective sacrifice . By homeowners, developers, financiers and savers. Only government has the platform to trigger this collective sacrifice and it goes against almost half a century of orthodoxy. Housing policy over the past few decades has been characterised by minimising the number of losers, generating as little productive activity as possible, rather than policy in line with public good. Most directly it is the young and private renters who have shouldered the cost of this failure.
. By homeowners, developers, financiers and savers. Only government has the platform to trigger this collective sacrifice and it goes against almost half a century of orthodoxy. Housing policy over the past few decades has been characterised by minimising the number of losers, generating as little productive activity as possible, rather than policy in line with public good. Most directly it is the young and private renters who have shouldered the cost of this failure. Government should treat housing as a social service. Effective housing policy has only happened and only will happen when there is a strong enough political will from central government.The Grenfell Tower disaster holds the shortcomings of the state’s long-running approach to housing up to the light. A fundamental rethink is now required on how the housing market functions and for whom.
Advisory panel
This research project was supported by an Advisory Panel, whose members are listed below. Advisory Panel members were interviewed and provided comments on report drafts. They may not necessarily agree with every analysis and recommendation made in the report.
Niall Bolger, Chief Executive of Sutton Council
Eamonn Boylan, Chief Executive of the Greater Manchester Combined Authority
Nicholas Boys Smith, Founding Director of Create Streets
Louise Brooke-Smith, Partner at Arcadis
Sir Merrick Cockell, Chair of London Pensions Fund Authority
Keith Exford, Chief Executive of Clarion Housing Group
Liam Halligan, Columnist at the Telegraph
Sir Edward Lister, Chair of the Homes and Communities Agency
Toby Lloyd, Head of Housing Development at Shelter
Sadie Morgan, co-founder of dRMM architects
Brian Reynolds, Programme Director at One Public Estate
Kindly supported by
Further information
For more information on the report in general, its findings or its recommendations, please get in touch with [email protected].
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Disrupting the Housing Market
A policy programme to save the home-owning democracy |
Demand for less polluting cars causes palladium price to surge | For the first time in 16 years, palladium prices have passed $1,000 per troy ounce. With the gradual move away from petrol and diesel cars – and until electric cars take over – palladium is in huge demand as it is used in catalytic converters that convert the emissions in car exhaust gases into less toxic substances, hence it is very attractive to manufacturers looking for ways to cut emissions. The price of palladium, which is primarily mined in South Africa and Russia, has rocketed by almost 50% this year as investors anticipate a supply shortage. | https://qz.com/1103214/curbing-car-emissions-has-made-palladium-the-most-precious-of-all-metals/?mc_cid=cab0c0f35b&mc_eid=a37072368a | 2017-10-17 05:47:18.247000 | Forget gold and platinum, because the shiny metal catching the eye of traders is palladium. The price of palladium surpassed $1,000 per troy ounce for the first time in 16 years in trading today.
As countries vow to slow, and eventually stop, the sale of gasoline- and diesel-burning cars, palladium is benefiting from the same surge in investor interest that has pushed up the price of metals used to make lithium-ion batteries in electric cars, such as cobalt and lithium.
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Palladium is used in catalytic convertors that convert the harmful gases in car exhaust into less toxic substances. So before electric cars sweep across the world’s roads, the metal is in high demand as car manufacturers look for other ways to cut the emissions from their fleets. The price of palladium, which is mostly mined in South Africa and Russia, has surged almost 50% this year as investors bet that the market is heading for a shortage in supply.
Speculative bets on palladium’s rise have almost tripled in the past six months, according to the Financial Times (paywall). Last month, the price per ounce of palladium rose above platinum for the first time in 16 years. This might encourage the manufacturers of catalytic convertors to find ways to switch to using platinum in catalytic converters, which is likely to remain cheaper in the near future.
Analysts at JPMorgan forecast the price of platinum to fall to $930 per troy ounce by the end of the year and to $910 by the end of the first quarter of 2018. At the time of writing, the price was about $945 per ounce. |
Commercial drones in Dubai now required to be insured | Commercial drones in Dubai must now be insured, with the minimum liability coverage being AED3.67m ($1m) and the minimum premium for such a policy set at about AED1,750. Drones used recreationally are also expected to need coverage once policies aimed specifically at these craft are introduced to the market.
| https://www.khaleejtimes.com/nation/dubai/insurance-made-mandatory-for-drones-in-dubai | 2017-10-17 05:27:39.760000 | Insurance made mandatory for drones in Dubai
Dubai - The minimum liability coverage is Dh3.67million as per the UAE rule by the DCAA.
By Sarwat Nasir Published: Tue 17 Oct 2017, 9:15 AM Last updated: Tue 17 Oct 2017, 11:25 AM
Insurance is made mandatory for commercial-purpose drones to protect the company and the drone against liability, it was announced at the forum on Monday.
The forum, which was hosted by the Dubai Police in partnership with the Dubai Civil Aviation Authority (DCAA), brought together UAE authorities and drone operators to discuss latest UAV regulations and requirements for safe drone usage in the country.
"The minimum liability coverage is Dh3.67million as per the UAE rule by the DCAA. The minimum premium is around Dh1,750," Amit Kumar, the business development executive at JLT - an insurance firm that insures drones, told Khaleej Times.
"But the companies who have more risk can go for higher minimum. The coverage is this much because you could fly into the security zone or somewhere that is not allowed. The commercial users have more risk."
"For drones, insurance is very important. If you have any flying object there is a risk. First risk is for the drone itself, if it falls down and damages itself. Commercial drone users are required to have insurance in order to obtain their flying license."
The minimum premium for commercial-purpose drones is quite high, however, an official with the DCAA has insisted that a cheaper option will be available to hobbyists by the end of this year.
Related news:
Tourists will soon be allowed to fly drones in Dubai
All drone activity are monitored in Dubai
Currently, insurance is only mandatory for commercial drones, however, recreational drones will also require insurance once the different type of insurance packages have been introduced.
Michael Rudolph told Khaleej Times: "We are looking at something whereby we can affiliate it with the registration process, so the operator would need to have insurance for that, the same you would need for your motor vehicle, just to make sure that if you bump into something you're not going to be liable for those damages. And that's the kind of package we're looking at. We don't want it to cost too much because then people won't do it."
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Investors and directors disagree on climate priorities: PwC | A wide disparity exists between company directors and investors on key issues, particularly those relating to climate change and sustainability, according to a report from PwC’s Governance Insights Centre. Of directors responding to the survey, 42% said they would not need to change their firm’s strategy over the next three years due to environmental factors, while 40% claimed climate change should not play a role in strategy and 29% made similar comments in relation to resource scarcity. This contrasts with shareholder views; the 2017 proxy season saw support for environment-focused shareholder proposals reach 32%, up from 24% in the previous year.
| https://www.pwc.com/us/en/governance-insights-center/annual-corporate-directors-survey/top-6-findings.html | 2017-10-16 22:00:00 | In 2022, as both the ongoing direct impacts and unexpected side effects of the COVID-19 pandemic continue to mount, the landscape of the business world is shifting yet again. An ongoing war in Ukraine, rising global inflation, fears of recession and the near-constant drumbeat of catastrophic environmental news and predictions are changing the geopolitical context. In the US, market turmoil, social upheaval, political polarization, looming midterm elections and uncertain regulatory developments make the landscape feel like uncharted territory. When the path is uncertain, boards are a source for constancy and guidance.
As shareholder and consumer expectations rise, our 2022 Annual Corporate Directors Survey shows that board oversight and board practices are shifting in response as directors navigate this new governance landscape.
Download the report |
Plastic pollution causing hormone disruption in arctic animals | Arctic mammals are experiencing hormone disruption due to phthalates, which are chemicals found in plastic bottles, according to scientists from the British Antarctic Survey (BAS). MP Mary Creagh told the UK parliament's Environmental Audit Committee, which she chairs, that Edward King from the BAS had disclosed that polar bears in the Arctic are developing two sets of testicles as a result of plastic pollution. CEO of Surfers Against Sewage, Hugo Tagholm, stated that his charity had warned that hormone disruption was also altering the sex of fish. The impact of such pollution on human health remains unknown.
| http://news.sky.com/story/plastic-pollution-leads-to-polar-bears-with-two-sets-of-testicles-11085873?dcmp=snt-sf-twitter | 2017-10-16 22:00:00 | Fears have been raised over the risks of plastic pollution as MPs heard claims discarded bottles are leading to polar bears developing two sets of testicles.
During a meeting of the House of Commons' Environmental Audit Committee, senior Labour MP Mary Creagh described how top scientists have found suggestions of hormone disruption in the Arctic mammals.
Telling how Edward King, from the British Antarctic Survey, informed her of the worrying discovery during a recent reception in Parliament, committee chair Ms Creagh said: "They are seeing, in the Arctic, polar bears with two sets of testicles.
"Because the phthalates are leaching out from the plastic bottles in the Arctic environment and disrupting the hormones of large mammals."
The former Labour shadow minister spoke as the committee heard evidence as part of its inquiry into disposable packaging.
Image: Labour MP Mary Creagh told of fears over the risks of plastic pollution
Dr Sue Kinsey, senior pollution policy officer at the Marine Conservation Society, revealed there is "quite a bit of anecdotal evidence and some scientific evidence" about hormone disruption from phthalates - chemicals used in a wide range of common products - believed to have originated from plastics.
Hugo Tagholm, chief executive of Surfers Against Sewage, highlighted how his charity have warned about hormone disruption changing the sex of fish.
"That may well be the same for mammals," he said.
"This is research that needs to continue and leads straight back to humankind."
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Speaking after the committee hearing, Ms Creagh pointed to how the committee's previous inquiry into the impact of microplastic pollution - such as from exfoliation beads - had led to action from health officials.
Please use Chrome browser for a more accessible video player 2:23 Voyage reveals plastic problem in UK waters
She told Sky News: "We do not yet know how serious the risk to human health is from plastic pollution.
"In our report on microplastic pollution we raised concerns that plastic is entering the foodchain, and that the smallest particles of all - nano plastics - are small enough to pass into the blood stream.
"The Chief Medical Officer was sufficiently concerned by our findings to launch a review of the risks to human health from plastic pollution."
The committee's microplastic inquiry led to the Government banning plastic microbeads, while Environment Secretary Michael Gove recently announced ministers are working with industry over the possible introduction of a deposit return scheme for drinks bottles in England.
The Scottish Government has already committed to implementing such a recycling scheme in order to tackle plastic pollution.
Sky's Ocean Rescue campaign, launched earlier this year, is aimed at reducing the more than eight million tons of plastic being dumped in the world's oceans every year, putting marine wildlife under serious threat.
:: You can find out more about the Sky Ocean Rescue and how to get involved here. |
Soros donates $18bn to Open Society Foundations | Billionaire hedge fund manager George Soros has donated $18bn to his Open Society Foundations, which promote democracy and human rights in over 120 countries. The donation, one of the largest ever transfers of wealth from a private individual to a single foundation, turns Open Society into the second-largest philanthropic organisation in the US, after the Bill and Melinda Gates Foundation. The gift has been made over several years, but was only revealed on Tuesday. Soros, a major donor to the Democrats, has become a target of criticism by the political right. | https://www.nytimes.com/2017/10/17/business/george-soros-open-society-foundations.html | 2017-10-16 21:00:00 | George Soros, the billionaire hedge fund manager and a major Democratic donor, has given $18 billion to his Open Society Foundations, one of the largest transfers of wealth ever made by a private donor to a single foundation.
The gift, made quietly over the past several years but disclosed only on Tuesday, has transformed Open Society into the second-biggest philanthropic organization in the United States, behind the Bill and Melinda Gates Foundation. It will also place Mr. Soros, a lightning rod for conservative critics, squarely in the middle of the social and political debates convulsing the country.
Founded by Mr. Soros more than 30 years ago, Open Society promotes democracy and human rights in more than 120 countries. In recent years, the organization has increased its attention on the United States, investing in programs to protect gays and lesbians and reduce abuses by the police.
The organization funded treatment centers during the 2014 Ebola outbreak, a center for Roma art and culture, and efforts to protect people in the United States from what it described as “a national wave of hate incidents” after the 2016 election. After that spike in hate crimes, Mr. Soros, 87, committed $10 million to preventing such violence. |
India completes first utility-scale solar-plus-storage auction | Mahindra Susten has won an auction for a 20 MW solar project integrated with 28 MWh of battery storage capacity on India's Andaman and Nicobar Islands, the first utility-scale storage project in India. Mahindra won with a bid of INR2.99bn ($46m). The islands have a population of 400,000 and peak power demand of 67 MW, usually covered by diesel gensets. | https://www.pv-magazine.com/2017/10/16/indias-first-utility-scale-solar-storage-project-realized/ | 2017-10-16 20:16:21.327000 | Bridge to India thinks that storage requires an additional 3-4 years of techno-commercial advancements before finding the scale required in India.
Mahindra Susten, one of India’s most significant EPC players, has won the auction for a 20 MW solar project integrated with 28 MWh of battery storage capacity in Andaman & Nicobar Islands.
NLC India Limited, a government of India-owned coal mining company, conducted the auction and it is the first utility-scale storage project in India to confirm results.
Mahindra sealed the deal with a bid of INR 2.99 billion ($46 million). The company will provide complete EPC and O&M services for 25 years.
Prior to the auction, the aggregate capacity of 35 MWh storage tenders were scrapped due to undisclosed reasons. NTPC was the latest to reject the 27.2 MWh tenders for the Andaman Islands.
Andaman & Nicobar Islands have a population of 400,000 and peak power demand of 67 MW, where diesel gensets mainly cover the power supply.
Therefore, replacing them with integrated solar+storage plants is highly desirable from an economic and environmental perspective. Moreover, the high cost of storage is not a discouraging factor because of the very high cost of diesel-fired power of about INR 15/ kWh (USD 0.23), Bridge to India said.
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NLC specified strict technical requirements with performance warranties and associated penalties for the full 25-year duration of the contract. Despite that, all of the big players willingly responded to the terms of the auction.
During the auction, there was a considerable variation in prices, particularly for the EPC component – ranging from INR 1.79 billion ($28 million) for Mahindra Susten to INR 3.42 billion ($53 million) for Hero – suggesting an inconsistent understanding of the technical specification. Such issues were also witnessed in earlier SECI tenders, where bidders were struggling to interpret technical requirements.
According to Bridge to India, such tenders are crucial to storage’s progress, which remains slow in India.
The underlying problem is a mix of high-cost sensitivity and lack of awareness about the technical potential of storage. Moreover, DISCOMs believe that they can use a mix of power cuts and curtailment to balance power demand and supply rather than committing to the use of expensive storage solutions.
Overall, the consultancy company thinks that storage requires an additional 3-4 years of techno-commercial advancements before finding the scale required in India. |
UK’s Brexit bill omits key environmental protections | The UK’s Brexit withdrawal bill omits a central principle of European Union law that protects the environment, according to campaigners. The principle, built on the idea that the environment has no owner, requires those who seek to build or develop to prove in law that their plans will not cause environmental damage. This principle has been specifically ruled out of the bill in relation to legal challenges in UK courts. Other protections, including the polluter pays and the principle of preventative action against environmental damage, have also been ruled out. Umbrella group Greener UK is campaigning to retain these protections.
| https://www.theguardian.com/environment/2017/oct/17/uk-withdrawal-bill-rips-the-heart-out-of-environmental-law-say-campaigners | 2017-10-16 20:00:00 | The cornerstones of wildlife and habitat protection have been quietly left out of the withdrawal bill ripping the heart out of environmental law, campaigners say.
A key principle under EU law which provides a robust legal backstop against destruction of the environment – the precautionary principle - has been specifically ruled out of the bill as a means of legal challenge in British courts.
Based on the idea that the environment is unowned, the precautionary principle creates a bottom line forcing those who want to build or develop, for example, to prove in law what they are doing will not damage the environment.
Other key elements of EU legal protection, the polluter pays, and the principle that preventative action should be taken to avert environmental damage, have also been ruled out in the bill as a means to protect the natural world from damage by policymakers, development or industry after Brexit.
The withdrawal bill began to be debated in committee this week by MPs. Ministers are facing intense lobbying by Greener UK, an umbrella group of several leading environmental NGOs and backbench MPs, to ensure that the UK does not throw out these key protections.
Richard Benwell, head of government affairs at WWT, said: “Take out principles like precaution and polluter pays and you rip out the heart of environmental law.
“For decades they have helped guide good decisions – and strike down bad decisions – from planning to food safety to water quality and chemicals licensing.
“The principles must be available not just to interpret old law, but also to inform future decisions. Crucially we must be able to challenge Government in court if environmental principles are ignored. At the moment that’s explicity ruled out – a clear departure from the commitment to legal continuity on Brexit day.”
The precautionary principle and polluter pays principle are contained in Article 191 (2) of the Lisbon treaty which states policy on the environment should be “based on the precautionary principle and on the principles that preventive action should be taken, that environmental damage should as a priority be rectified at source and that the polluter should pay.”
But Schedule 1 of the withdrawal bill rules out these EU principles as a basis for challenge in British law. It states there is no right of action in domestic law on or after exit day based on a failure to comply with any of the general principles of EU law, and that no court or tribunal or other public body may, on or after exit day, quash any conduct or decide it is unlawful because it is incompatible with any of the general principles of EU law.
Tom Burke, chair of the global climate change think tank E3G, said: “It would not be an exaggeration to say that Brexit will have more immediate impact on our ability to manage the growing stresses on the environment than any other single political development of the past 50 years.
“There is no formal place in British policy practise for the writing into legislation of principles such as the polluter pays or the precautionary principle. This weakens the guidance to policy makers and judges as to the tests that should be applied in policy formation or implementation.”
Amendments put forward by Caroline Lucas, leader of the Green Party, Kerry McCarthy Labour MP and Mary Creagh the Labour chair of the environmental audit committee, aim to fill the vacuum left by the bill in its current form. Amendment NC28 puts forward a new clause to ensure that public authorities must have regard to environmental principles currently enshrined in EU law.
Lawyers from the Department of Environment Food and Rural Affairs (Defra) when asked by the Guardian about the absence of the precautionary principle as a means of challenge, made no comment on whether the amendments might be accepted as the bill goes through committee.
Benwell said ministers in Defra did appear to be looking for answers. But he said: “To give the public confidence that the spirit of our environmental law will be upheld, we are looking for strong solutions from Government to preserve and improve the application of the principles in UK laws in the early stages of the EU withdrawal bill.”
A Defra spokesperson said: “Our ambition is to be the first generation to leave the environment in a better state than we found it.
“The decision to leave the European Union creates new opportunities for a green Brexit and to enhance our environmental standards. We now have the chance to deliver higher standards of animal welfare and reform how we manage our land, rivers and seas.” |
Vestas to build low-wind rotor for Chinese market | Danish wind turbine maker Vestas said it's launching in China its new V120-2.0/2.2 MW turbine for low and ultra-low wind areas with first deliveries to commence in the Q3 2018. Its 120-metre rotor boosts its annual energy production performance by 13% when compared to the V110-2.2 MW model, as the swept area is 19% larger, it said. The use of carbon technology means the rotor weighs just 8% more. | https://renewablesnow.com/news/vestas-targets-low-ultra-low-wind-in-china-with-120-m-rotor-587158/ | 2017-10-16 19:07:09.913000 | Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) today said it is launching in China the new V120-2.0/2.2 MW turbine for low and ultra-low wind areas.
The company expects the first deliveries of the machine to commence in the third quarter of 2018. The turbine will be produced at Tianjin.
The 120-metre rotor of the wind turbine boosts its annual energy production (AEP) performance by 13% when compared to the V110-2.2 MW model, as the swept area is 19% larger. Yet, thanks to innovative carbon technology, the rotor weighs just 8% more.
“Projects in China are increasingly moving to low and ultra-low wind areas in southeastern parts of the country and the V120-2.0/2.2 MW turbine is specifically designed for such wind regimes,” said Vestas China President Kebao Yang.
In over 30 years Vestas has installed about 5.4 GW of wind turbines in China. At the end of 2016, the country reached 168.7 GW of wind power capacity, mainly equipped by local players.
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Three Taiwanese solar companies to merge | Taiwanese solar cell manufacturers Gintech Energy, Solartech Energy and Neo Solar Power are planning a three-way merger in response to the “highly competitive and increasingly concentrated market”. The companies also manufacture silicon wafers, modules, power grids and other products in the solar energy supply chain. The new entity will be called the United Renewable Energy Co. It plans to build a self-owned module brand, and enter the downstream market. | https://renewablesnow.com/news/three-solar-majors-in-taiwan-unveil-plan-to-merge-587120/ | 2017-10-16 19:03:36.097000 | Taiwanese solar cell manufacturers Gintech Energy Corp (TPE:3514), Solartech Energy Corp (TPE:3561) and Neo Solar Power Corp (TPE:3576), or NSP, announced today their intention to merge into one company.
The three companies have signed a non-binding letter of intent (LoI) that outlines their plan to merge and build “a flourishing and prosperous integrated platform” in view of the “highly competitive and increasingly concentrated market”. In addition to the production of cells, these firms are active in the silicon wafer, module, power grid and other solar energy supply chains. For the first eight months of the year, Gintech reported TWD 9.18 billion (USD 304.7m/EUR 258m) in net sales, NSP posted TWD 5.8 billion and Solartech had TWD 4.25 billion.
None of the three merger partners will be considered as the acquiring company, while NSP has been agreed as the surviving company. It will be renamed to United Renewable Energy Co Ltd (UREC) after completion of the transaction. The plan is for UREC to become "the paragon of vertical integration" of the country's solar industry by enlarging domestic and foreign investment, building a self-owned module brand, and entering the downstream segment.
Gintech, Solartech and NSP also expect other local sector players to join the integrated platform after the planned merger.
The initial terms of the pact set the tentative share exchange ratio as follows: one common share of Gintech for 1.39 common shares of NSP; and one common share of Solartech for 1.17 common shares of NSP. This is subject to change depending on further assessment of each firm's obligations and liabilities.
The trio aims to seal a legally-binding merger agreement by the end of the year and to have the transaction completed in the third quarter of 2018.
The three companies have initiated work with relevant government agencies to secure their backing. According to a press statement, they hope to have the National Development Fund and other government-appointed organisations investing in the companies under appropriate terms and conditions.
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Hawaii solar industry 'dying before our eyes' as net metering ends | Hawaii’s average solar installations slumped 56% in the first half of this year, according to the state's Department of Business, Economic Development and Tourism. The number of PV permits issued by the County of Maui dropped 84% in Q3 from two years earlier, data from solar watcher Marco Mangelsdorf show. Most solar in Hawaii has been installed "behind the meter" on homes and businesses under net metering and, since 2015, under the Customer Grid Supply program, which is due to end this month. The remaining option for those who want to install solar in Hawaii is to install expensive batteries to soak up excess capacity.
| https://www.greentechmedia.com/articles/read/hawaii-solar-problem-smart-imports#gs.saLi0Iw | 2017-10-16 18:16:36.987000 | As problems go, having too much solar power is not a bad one to have. It's also an issue that has actionable policy solutions.
In Hawaii, solar installations have grown rapidly since the first net energy metering (NEM) law went into effect in 2001. Measured per capita, Hawaii ranks third for the most solar in the U.S., behind only Nevada and Utah, both of which rely primarily on utility-scale solar rather than behind-the-meter solar, as is the case with Hawaii.
That said, the level of solar installations in Hawaii is still low in the context of reaching 100 percent renewable energy for electricity generation -- Hawaii’s official goal since 2015. There is a very large potential for solar growth in Hawaii, on rooftops, parking lots and open space.
Unfortunately, Hawaii’s solar industry is dying before our eyes, with average installations plummeting by 56 percent in the last year alone. The number of PV permits issued by the County of Maui fell 84 percent this past third quarter compared to the same period two years ago, according to data compiled by long-time solar watcher Marco Mangelsdorf.
This decimation of the industry is occurring because the vast majority of solar in Hawaii has been installed on homes and businesses under net metering, and in the last couple of years, under the Customer Grid Supply program that replaced net metering in 2015. Both programs have now either ended or are about to. (For the record, I worried that the 2015 net metering decision would have the disastrous impacts that it ultimately proved to have.)
Aside from the pre-net-metering Standard Interconnect Agreement, which doesn’t provide any credit value for exported solar power, the remaining option for homeowners and businesses to go solar in Hawaii is the Self-Supply option -- the option that requires including pricey batteries on-site to absorb surplus solar power rather than sending it to the grid.
We can expect to see even more decimation of the solar industry as these programs officially end this month.
Can policymakers help?
What can policymakers do to stop the bleeding, and, better yet, ensure that solar jobs and solar installations return to a path of growth? There are a couple of efforts currently underway that may help: a pending community solar program and a pending “smart export” program.
I’m looking forward to seeing the final details of the community solar program, and I’m cautiously optimistic that it will help solar grow incrementally. It won’t, however, do much at all to help the residential solar market, which is in an apparent death spiral due to the end or pending end of net metering and grid supply capacity on the populous islands of Oahu, Hawaii and Maui.
The smart export program would “compensate customers for exporting electricity back to the grid during peak demand times, which is usually in the early morning hours and in the evening,” according to a Pacific Business News story on the pending program. The sticking points for the proposed program are the capacity allowed for each island plus the compensation rate for power sent back to the grid.
The point of the smart export program is to compensate and thus incentivize homeowners and business owners interested in solar to include battery storage and earn revenue from the “smart exports” during times of high demand on the grid.
I suggest, however, that Hawaii needs a more comprehensive and long-term solution. Solar could in theory provide all of Hawaii’s energy needs (along with existing renewables like wind power and some small hydro and biomass plants). The “in theory” qualification is required because the sun only shines part of the day, and solar production doesn’t coincide with Hawaii’s peak power demand period in the evening.
Energy storage is the obvious solution to this problem. If energy storage were cheap and plentiful, solar could provide all of Hawaii’s power needs with no fuel imports, cheaply, reliably and with minimal impact to the environment. Sempra executive Patrick Lee stated earlier this year that transitioning to a fully renewable grid is now achievable: “If you were to ask me three years ago, as a power engineer, can we actually achieve a high percentage of renewables, my answer would probably be, 'No, we’re going to need some baseload generation.' But today my answer is, the technology has been resolved. How fast do you want to get to 100 percent? That can be done today.” (Lee has since backtracked somewhat on those comments, however.)
We have already seen cost-effective solar and energy storage solutions implemented, but we need far more. The Kauai Island Utility Cooperative (KIUC) recently completed an impressively low-cost contract with Tesla for up to 28 megawatts of solar-plus-storage, for about 14 cents per kilowatt-hour. This is cheaper than fossil fuel alternatives. And the costs of solar and storage are declining rapidly.
The problem is that energy storage is generally not yet cheap and plentiful. It’s not clear how much of Tesla’s project for KIUC, for example, is a “loss leader” in order to gain market share. What we do know, however, is that with the rapidly declining cost of energy storage, we will see increasingly competitive pricing. It becomes, then, a question of timing: How long should we wait for cost-effective and widespread deployment of solar and storage?
What if we could achieve this in the near term, cost-effectively and with significant benefits to Hawaii’s economy?
Smart imports are the yin to smart exports' yang
This is where policy can be helpful. Some states are already seeing too much daytime solar, and Hawaii is at the front of this development because each island has its own power grid. Too much daytime solar is why the grid supply option has expired or is about to expire: Hawaii’s island grids can only handle so much daytime solar without running into problems of excess power.
But what if this excess power became a solution rather than a problem? Energy storage can become cheap when there is zero cost for charging, or, better yet, storage operators are paid to use excess power from the grid. This is called “negative pricing” and is already a regular occurrence in some markets like California (too much solar power at certain times) and Texas (triggered by too much wind and natural gas at certain times).
Hawaii has no power sales market, but policymakers could create the equivalent of markets by providing programs that allow large-scale power users to earn revenue by absorbing/importing excess solar power. Such a program would work effectively by providing either a defined rate for absorbing excess solar power, or creating a market mechanism that pays higher rates when there is more excess solar power and lower rates when there is less solar power.
This program would be the yin to smart exports' yang, but it would probably be a far greater incentive for energy storage than the pending smart exports program, because it wouldn’t require an accompanying solar system, which will be required for the smart export program. We could call this program “smart imports” to distinguish it from “smart exports.”
Large-scale power consumers could, by absorbing either free or revenue-positive (negative-priced) excess solar power during the daytime, use the absorbed power for nighttime power demands. As long as there is enough daytime power consumption, there is no limit, in theory, to how much solar could be installed on homes and businesses.
Making smart imports a reality
A smart imports program would not need to be limited to energy storage (whether the storage is battery technology, flywheels, compressed air energy storage, pumped hydro, etc.), though this would be the default. Other power-intensive technologies could be incentivized under the same program, such as computer servers for cloud storage, cryptocurrency mining, or marijuana growing. These are all large and growing global industries. Hawaii and other states with excess solar power could do much to grow their economies by attracting these industries with cheap or even revenue-positive electricity.
For example, a 1-megawatt Bitcoin mining operation, discussed in my last GTM article, would require up to 8,760 megawatt-hours of electricity per year. About one-fourth of this could come from importing excess daytime solar power (about 6 hours a day), without any onsite storage. And the rest could come from grid power or onsite battery storage that also imports excess daytime solar power. The latter would be preferable because Hawaii’s grid power costs are so high.
This 1-megawatt operation would cost about $3 million in capital costs and would require a medium-sized warehouse to house the mining machines and battery storage. These facilities could be placed anywhere that there is sufficient grid infrastructure and appropriate zoning.
A hundred such facilities -- whether it is cryptocurrency mining, cloud storage or marijuana growing or some other high-power-requirement industry -- on the Big Island and Maui, and 300 such facilities on Oahu, a far more populous island, would result in 500 total. If the average capital cost of these facilities is $3 million, this amounts to $1.5 billion (500 x $3 million) in new economic growth on Hawaii’s three biggest islands.
The community development and job potential of spurring these new industries should be obvious to policymakers. And it could save Hawaii’s struggling solar industry. With solar power installers eager to find new business, this development model is ready for implementation.
Realistically, it would take at least a year for the Hawaii Public Utilities Commission to scope and implement a new program like this, and probably longer. But given the potential for economic growth and the slow-moving crisis that Hawaii’s solar industry is facing already, there is good reason for policymakers to move with a sense of urgency. |
Nordex to begin production of low-wind turbine in autumn 2018 | German wind turbine maker Nordex has added a 140-metre rotor option to its AW3000 turbine, and said production of the model could start in autumn next year. The AW140/3000 model is optimised for low-wind conditions and is expected to sell well in India. Its longer blade length increases the swept area by 12%, raising the annual yield by as much as 6.5%, Nordex said. | https://renewablesnow.com/news/nordex-unveils-new-turbine-model-for-low-wind-sites-586998/ | 2017-10-16 18:09:33.297000 | German wind turbine maker Nordex (ETR:NDX1) today presented a 140-meter rotor option in its AW3000 platform and said series production of the new turbine, suitable for low wind, could start in the autumn of 2018.
The AW140/3000 model is optimised for specific low-wind conditions and will operate very well in markets like India. It relies on an innovative concept for increased blade length through an integrated extension at the root. The swept area thus grows by 12%, resulting in rise in the annual yield of between 4.5% and 6.5%, Nordex calculates.
An AW140/3000 prototype is to start operation in the middle of 2018. The company expects to have the turbine Type Certification in place in the same year.
The new addition to the AW3000 wind turbine platform can be installed on 120m concrete towers, and on steel towers with hub heights from 82m to over 100m.
The AW3000 platform was part of the portfolio of Acciona Windpower. Nordex acquired the company last year.
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German solar bids fall below EUR50/MWh for first time | The average winning bid in Germany’s latest 200 MW solar tender has fallen below EUR50/MWh for the first time, according to Federal Network Agency. It awarded a total of 222 MW of capacity with bids ranging from EUR42.9/MWh to EUR50.6/MWh. The average was EUR49.1/MWh. A total of 110 bids amounting to 754 MW were submitted. The previous record was an average of EUR56.6/MWh, set In June 2016. | https://renewablesnow.com/news/bids-go-below-eur-50mwh-in-oversubscribed-german-solar-tender-587185/ | 2017-10-16 17:49:39.503000 | Germany’s Federal Network Agency (Bundesnetzagetur) announced today that the average winning rate in the country’s latest 200-MW solar tender has fallen below the EUR 0.0500 (USD 0.0590) kWh mark for the first time.
The agency said in a statement it has awarded a total of 222 MW of capacity in the tender, with bids ranging from as low as EUR 0.0429/kWh to EUR 0.0506. The average rate was EUR 0.0491/kWh.
In June 2016, the Federal Network Agency concluded a solar tender in which rates dropped to an average of EUR 0.0566/kWh.
In the latest tender, a total of 110 bids were submitted, targeting a combined capacity of 754 MW. The tender allowed projects on arable land to compete for contracts, as long as they are planned for less-favoured areas in Baden-Wuerttemberg and Bavaria. The quota for the latter state was exhausted with 45 MW of winning projects.
Three of the winning bids envisage the construction of 20-MW solar parks at industrial sites. The average bid size in the tender was for 6.9 MW.
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Jones Act may kill US offshore wind industry | The Jones Act, which requires that goods shipped between US ports be carried on ships that are US-built, US-flagged and US-crewed, means that European vessels supplying offshore wind projects in the country can't dock at a US port first. That's a problem because the ships used for moving turbines around on water are specialist vessels of which the US has none. The cost of energy for US and European offshore is never going to "converge as tightly as we’d like to see it until we no longer have the Jones Act or we have a strong American supply chain", said Anthony Logan, an analyst at MAKE consulting. | https://www.greentechmedia.com/articles/read/this-controversial-law-could-stifle-us-offshore-wind#gs.Ld2IeIQ | 2017-10-16 17:27:56.167000 | The U.S. has lagged behind Europe in building offshore wind for decades. That’s often attributed to uncompetitive pricing and lack of political will. But as more developers work to get U.S. offshore wind projects off the ground in the coming years, the century-old Jones Act has raised concerns that even with improving economics and technological innovation, the process could remain onerous and the costs exorbitant.
“You look at the convergence of cost of energy for American offshore and European offshore, and that’s never going to be able to converge as tightly as we’d like to see it until we no longer have the Jones Act or we have a strong American supply chain,” said Anthony Logan, an analyst at MAKE consulting.
Because offshore wind installation requires what Logan calls “complex and purpose-built” vessels, Europe’s edge is difficult to surmount. The Jones Act, which has been in the news of late because of the disaster in Puerto Rico, requires that goods shipped between U.S. ports be carried on ships that are U.S.-built, U.S.-flagged and U.S.-crewed. That means for installing turbines, a U.S. ship must carry supplies from a port to the project offshore, and if a European ship is working on the project, it cannot dock at a U.S. port before delivering supplies.
The requirement hurts competition, thus raising prices. It also throws up a huge technological barrier. Europe has dozens of ships equipped to install turbines. The U.S. has none.
“It's a problem we know is creating issues for the industry,” said Ron Flax-Davidson, chairman and CEO at PNE Wind USA, on the sidelines of the ACORE Finance West conference last week.
Thus far, just Rhode Island’s five-turbine, 30-megawatt Block Island project has been able to shimmy around the Jones Act restrictions. Logan said developer Deepwater Wind, which declined to comment for this story, shipped turbines from France on an installation vessel that was never able to dock in the course of construction. Other components were shipped out from a U.S. port.
“You have to do these logistic gymnastics with your European vessels to make it work. It’s almost like you’re playing a game -- [except] that the floor is lava,” said Logan. “This strange dance worked for Block Island, but it’s going to require some creative thinking on the part of the developers to make this work for larger projects.”
Projects in Massachusetts and Maryland will be a test of whether that strange dance holds up to larger installs. The two projects in Maryland, Deepwater’s Skipjack and U.S. Wind 1, will be the first two large-scale projects in the U.S., with a combined potential capacity of 870 megawatts. They could be completed in the early 2020s.
They may be able to be installed using European ships, as with the Block Island project, or with U.S. vessels -- if the U.S. maritime industry develops ships with the right capabilities. Logan offers an estimate that two U.S. installation turbine vessels would be sufficient to install the projects currently on the U.S. docket.
But both European and U.S. ships present unique challenges. If Europe was able to spare a vessel to work on several installs in the U.S., that leaves projects highly dependent on the schedule of the others. If a project runs late, it could severely impact the timeline and budget for others down the line that are relying on the same installation vessel.
At the same time, because offshore wind is advancing so rapidly and turbine sizes increasing steadily, it would be difficult for U.S. ship builders to develop vessels equipped to install turbines five years into the future. Logan notes, however, that when a ship does become obsolete, it can be used for operations and maintenance.
How the industry tackles these challenges will define the competitiveness of the U.S. offshore market going forward. While costs in continental Europe have fallen under €100 ($118.05) per megawatt-hour, the Block Island’s PPA starts with prices of $244 per megawatt-hour.
Although economies of scale come into play and Block Island is largely a demonstration project, Europe is far and away ahead of the U.S., in part because of the Jones Act’s chilling effect on the industry. When asked if he believes the law has posed impediments and slowed development for offshore wind in the U.S., Flax-Davidson’s response is unequivocal. “Absolutely,” he said.
Even if U.S. offshore wind is “on the cusp of a very large market,” as Logan put it, with MAKE expecting a 2-gigawatt market over the next 10 years, the Jones Act challenge is unlikely to change. President Trump is notoriously unfriendly to the wind industry and famously fond of his made-in-America slogan -- at least insofar as it benefits his base.
And while Trump swiftly lifted the Jones Act for delivery of aid to Florida and Texas, he was slow to do so in the case of Puerto Rico. He kept the island’s exception in place for just 10 days. Lawmakers had pushed for a one-year waiver.
Interestingly, many Republicans, as well as oil companies, dislike the law. In past years, Sen. John McCain has introduced legislation to repeal the act. He tried again in July. “I have long advocated the repeal of the Jones Act, an archaic and burdensome law that hinders free trade, stifles the economy, and ultimately harms consumers,” said McCain in a statement announcing the legislation. It’s now sitting in committee.
Even in the wake of federal action, Logan is confident that the industry can find a workaround. “I don’t think anyone is denying it's an issue -- it’s just whether people are capable of overcoming it,” he said. “I think the broad answer is yes.”-
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Kenyan offshore wind farm may be built in Tanzania | Sweden's VR Holding is considering moving its proposed 600 MW offshore wind project in the Indian Ocean to Tanzania from Kenya, which has no established mechanism to support large-scale renewable energy projects and where demand for power is low. Kenya's grid would also struggle to handle the project's output, VR said. The KES253bn ($2.45bn) installation was to be built off the coast near the Kenyan town of Malindi. VR may submit a revised proposal of 50 MW, which would make the project eligible for Kenya's feed-in-tariff programme. | https://renewablesnow.com/news/vr-may-relocate-600-mw-offshore-wind-project-to-tanzania-report-587107/ | 2017-10-16 16:59:29.807000 | Swedish group VR Holding AB, the company behind a 600-MW offshore wind project in the Indian Ocean, is now looking at Tanzania after Kenya proved to be "a very difficult place", Kenyan newspaper The Citizen reported last week.
In Kenya there is no established mechanism for support for large-scale renewable energy projects and demand for power is low. Also, the grid cannot cope, Victoria Rikede, a VR Holding executive said, said as quoted by the newspaper.
The Swedish company’s initial plan, worth KES 253 billion (USD 2.45bn/EUR 2.07bn), was to install the wind park off the Kenyan town of Malindi in the Indian Ocean. According to documents seen by the Business Daily, the Kenyan government has advised the developer to install a smaller wind park. VR Holding was expected to submit a revised proposal of 50 MW, the director of renewable energy at the ministry, Isaac Kiva, was cited as saying.
Under its feed-in-tariff (FiT) programme for renewables, Kenya supports only small and medium-sized projects of up to 50 MW.
(KES 100 = USD 0.968/EUR 0.819)
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Texas closures mean half of US coal plants have shut since 2010 | Two coal plants have closed in Texas, bringing the total to 262 that have shut in the US since 2010, with 261 remaining. Vistra Energy said that its Luminant subsidiary will close its Sandow and Big Brown power plants next year. Vistra cited “sustained low wholesale power prices, an oversupplied renewable generation market, and low natural gas prices, along with other factors”, for the plants' demise. The closures represent 2.3 GW of the Luminant's 8 GW of coal-fired capacity. It is also planning to shutter a 1.8 GW coal plant in East Texas.
Technology: Advanced solar, Advanced wind
| https://www.greentechmedia.com/articles/read/two-coal-plants-close-in-texas-trump-admin#gs.Q3hmu64 | 2017-10-16 16:43:54.307000 | Two more U.S. coal plants are being shuttered, faced with the same low energy prices that have driven half the country’s coal-fired generation fleet to close since 2010.
Because the plants are in Texas, they wouldn’t even have benefited from the policies being proposed by Energy Secretary Rick Perry that would provide cost recovery to power plants with 90 days of fuel supply on hand.
Vistra Energy announced Friday that its Luminant subsidiary will close its Sandow and Big Brown coal power plants in Texas next year. The move, which will require approval by state grid operator ERCOT, will include layoffs of about 600 people and a charge of $70 million to $90 million in the fourth quarter of 2017.
Vistra cited a familiar litany of causes, including “sustained low wholesale power prices, an oversupplied renewable generation market, and low natural gas prices, along with other factors.”
The closures will take offline about 2,300 megawatts of the 8,000 megawatts of coal-fired generating capacity still operated by Luminant, which is also planning to shutter an 1,800-megawatt coal plant in East Texas. The company also operates 7,500 megawatts of generation fueled by natural gas and 2,300 megawatts of nuclear power.
The Sierra Club noted that the closures push the country over the halfway mark on coal power closures, with 262 coal plants that have announced retirement or closed since 2010, compared to 261 plants still remaining. The trend has been accelerating this year, with 14 coal plants announcing retirement so far, it noted -- meaning that “the country is moving away from coal faster since Trump was inaugurated than during the prior six years of the Obama administration.”
Former New York Mayor Michael Bloomberg announced this week he is contributing an additional $64 million to move America off of coal -- an investment that will support the Sierra Club and other environmental groups.
But this week has also seen significant pushes on several key Trump administration policy efforts to support the coal industry. EPA Administrator Scott Pruitt’s signing of a rule to rescind the Clean Power Plan is the highest-profile, although it’s unlikely to change the economics of coal-fired power.
However, DOE’s notice of proposed rule making (NOPR), seeking to secure cost recovery in wholesale energy markets for reliability and resiliency features only nuclear and coal plants can provide, could have a significant effect.
The Electric Reliability Coordinating Council (ERCC), a utility trade group, cited the NOPR in a Friday press briefing. Luminant’s plant closures “should not be read as a rejection of coal resources as a vital part of the grid, but rather as an important part of an increasing diverse array of generation sources.”
At the same time, “the federal government has begun a national conversation on the future of baseload power production in the United States. ERCC members believe that conversation is long overdue and appreciate the [Trump] administration's attention to reliability and affordable electric power,” the group wrote.
DOE’s NOPR, filed late last month, asks the Federal Energy Regulatory Commission (FERC) to create a rule that would secure some form of cost recovery for power plants that provide reliability and resiliency. The NOPR’s qualifications for this status include having 90 days of on-site fuel supply -- something only nuclear, hydropower and coal-fired power can do.
The rule, which would apply to the wholesale energy and capacity markets run by interstate grid operators under FERC’s jurisdiction, has been widely criticized by former FERC commissioners, free-market think tanks, solar and wind backers, and natural gas and oil trade groups, on the grounds that it would break with decades of federal energy policy and serve to prop up unprofitable plants and undercut more efficient alternatives.
Critics also point out that the NOPR supplies no data on why on-site fuel supply is important for grid reliability, and fails to mention data to the contrary, such as that coal piles have frozen alongside natural gas plants during cold weather events such as the 2014 polar vortex, which the NOPR cites as the key example of why it’s needed.
It also lacks data on why DOE feels it’s so urgent to act now, when utilities, grid operators and the North American Electric Reliability Corp. (NERC) have found that grid reliability is sufficient today, even amidst coal and nuclear power plant retirements.
Despite this, DOE has proposed an unprecedented 60-day timeframe for taking public comment, creating a rule, and giving it to grid operators to enforce, compared to the months or years of stakeholder proceedings that it typically takes to decide much more minute changes in policy. In testimony before Congress this week, Perry defended the NOPR, saying any additional costs represent “the price of freedom” from blackouts.
This week, FERC denied a motion by 14 industry trade groups to extend this tight deadline. Still, the NOPR faces an unclear future at FERC, where at least two of five commissioners have spoken out against it.
Texas grid operator ERCOT lies outside FERC’s strict jurisdiction, since its grid lies inside the state’s boundaries. Still, it’s interesting to note that ERCOT will be conducting its reliability assessment of both plants set for closure, a prerequisite for shutting them down next year, in 60 days -- the same amount of time as DOE is asking FERC and the industry to take in crafting a rule that would alter the reliability status of hundreds of power plants across the country.
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Come join us for GTM's first annual U.S. Power & Renewables Conference in November. You'll get an in-depth look at how the renewable energy market will interact with the U.S. power market, and how those interactions can impact overall industry development and market growth. Curated by GTM Research, MAKE, and Wood Mackenzie energy analysts, we’ll take an expansive view of key issues and timely topics, bringing together a diverse group of energy experts and stakeholders to discuss demand dynamics, economics and business model shifts, and policy and regulatory implications. Learn more here. |
Aon enters into workers' comp insurtech partnership | Aon has partnered with CLARA, an insurtech focusing on data analytics and artificial intelligence, aiming to aid the processing of workers' compensation claims. The two firms' platform will provide software that connects injured employees with medical providers, while also making use of analytics to process compensation claims. CLARA's analytics capabilities will be used in combination with Aon's own data aggregation platform to crate a more efficient model for insurers providing workers' compensation coverage.
| https://www.dig-in.com/news/aon-partners-with-clara-analytics-on-workers-comp-claims?brief=00000159-faf0-d111-af7d-fbfd9f0a0000 | 2017-10-16 15:42:40.270000 | A construction worker works on the new Transbay Terminal in San Francisco, California, U.S., on Thursday, Sept. 8, 2011. President Barack Obama called on Congress to pass a jobs plan that would inject $447 billion into the economy through infrastructure spending, subsidies to local governments to stem teacher layoffs and cutting in half the payroll taxes paid by workers and small-business owners. Photographer: David Paul Morris/Bloomberg David Paul Morris/Bloomberg
Aon has collaborated with insurtech CLARA analytics to offer workers’ compensation insurers artificial intelligence and predictive analytics tools that help injured employees return to work quickly.
The deal facilitated by Aon Benfield, the broker’s reinsurance intermediary and capital advisor, also decreases loss ratios and improves operational efficiency around claims for carriers, according to the companies.
“For carriers balancing C-suite and board level interest in innovation and cost management, CLARA can be a quick and easy win with minimal impact to expenses,” said George deMenocal, president and CEO of Aon Benfield US, in a statement. “CLARA’s analytics will be complemented by Aon Inpoint [Aon’s data aggregation platform] to improve claims outcomes and develop AI platforms to gain operational efficiencies for insurers.”
See also: Aon and OneBeacon help Uber drivers get coverage by the mile
CLARA’s core products are designed to live within carriers’ existing claims workflow. The first, PUMA, is a tool that instantly connects injured workers with medical providers. Meanwhile, CATT operates as a “control tower” for adjusters and expedites simple claims using data compiled through machine learning the day a first notice of loss occurs.
“Key decisions like finding the right doctor for an injury or prioritizing claims can be tough to make without science-based tools,” said Jayant Lakshmikanthan, president of CLARA analytics. “Our mission is to deliver easy-to-use tools like PUMA and CATT to adjusters and supervisors that are built upon cutting-edge AI technologies.” |
P2P insurtechs need support of big players to thrive | The plight of Guevara, which closed down last month, has shown that insurtech start-ups need the support of established players in order to survive. UK firm Guevara focused on motor insurance rather than the lower premium areas favoured by other insurtechs, and never achieved enough support within the industry. Guevara had difficulty fully capitalising its underwriting activities and also was perceived to struggle to gain the trust of customers who preferred to go to bigger, more established brands for cover. Gadgets and niche personal lines have been more fruitful areas for insurtech start-ups, where payouts tend to be lower, as has health insurance.
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From Hong Kong to London, first-time buyers need government help | Hong Kong's starter home scheme aims to help young families get on the housing ladder but concerns have been raised about its affordability. Households must have a monthly income of between HKD52,000 ($6,700) and HKD68,000 to qualify. By comparison, couples in Singapore can withdraw money from their mandatory Central Provident Fund to fund a house purchase, while first-time buyers of public-sector flats can also receive government subsidies. Families in Shanghai can also draw from a compulsory saving scheme. In the UK, the Help to Buy scheme offers state loans to first-time buyers who need pay only a 5% deposit.
| http://www.scmp.com/news/hong-kong/economy/article/2115423/how-hong-kongs-starter-homes-scheme-young-couples-compares | 2017-10-16 13:11:43.887000 | Securing a foot on the housing ladder may be a struggle for many in Hong Kong, but they are not alone in their plight |
Lloyd's underwrites kWh guarantee from solar panel manufacturer | Lloyd's of London is underwriting a guarantee from Dutch solar panel manufacturer Autarco that states its panels will generate a predetermined amount of kilowatts per hour. The policy and guarantee have been able to be developed because of technology provided by Autarco that allows users to determine how panels will interact with existing structures, as well as weather conditions, to accurately predict how much energy should be generated. If the panels fail to generate a stated amount of energy, users can claim compensation, which is offered at a prior agreed amount. | https://www.edie.net/news/10/Lloyd-s-of-London-backs-first-kWh-guarantee-for-solar-installations--/ | 2017-10-16 12:49:16.223000 | Join our growing army of changemakers and get unlimited access to our premium content
A tailor-made insurance has been developed for the Dutch-based firm from international insurance specialist Lloyd’s of London. Autarco claims that it can offer the guarantee because its solution, which consists of components, design software and monitoring, removes risk.
According to Autarco, the solution ensures that all components such as solar panels, inverters and roof-mounting parts “work seamlessly” with each other. The components work in tandem with innovative software which considers environmental factors and enables installers to determine how much energy can be generated.
Autarco will monitor and analyse the system’s performance after installation. This provides end-users with reliable data about the functionality of their system, according to chief executive Roel van den Berg.
“That’s exactly the offer of Autarco: we optimize the hardware, we measure the performance, we signal possible problems, and therefore we can guarantee the performance and insure it,” he said. “This is done in five-year periods and the settlement of the policy is handled by an independent foundation.
He added: “For us, it’s about trust in solar energy and, of course, our systems in particular. With the insurance proposition, we feel that we can speed up the energy transition.”
Rigid tests
If Autarco’s promise of the calculated normal performance is not achieved, then the lost kWhs can be claimed, at a predetermined compensation price per kWh.
Autarco said that industry growth is hampered by the fact the risk of the component brand is moved to the installer and then the end user. But the solar manufacturer insists that end users will no longer have to settle for an expected guarantee without sufficient protection of their bottom-line investment.
In a statement, Lloyd’s of London said: “We have carried out rigid tests on all technology of Autarco in other to be absolutely certain that all risks are well covered by them. It is a unique insurance, which we could not issue until now, since no other market player has been able to do this.”
Solar power was the fastest-growing source of new energy worldwide last year, outstripping the growth in all other forms of power generation for the first time and leading experts to hail a “new era”.
Despite the recent opening of the UK’s first subsidy-free solar farm, the prospects for British solar are fairly gloomy: the amount of solar forecast to be installed by 2022 is a fifth of the amount installed over the last five years.
George Ogleby |
Climate change blamed for New Zealand ‘chipocalypse’ | New Zealand has seen 20% of its potato crop wiped out due to a year of heavy rain, which included two “weather bombs” and two major floods, and which has been linked to climate change. In the most affected regions, up to 30% of the crop has been lost. Varieties used to create crisps, known as chips in New Zealand, have been particularly affected, leading to shortages and fears of a “chipocalypse”. New Zealand, which is the world’s ninth-largest exporter of potatoes, produces 500,000 tonnes each year.
| https://www.theguardian.com/world/2017/oct/16/chipocalypse-potato-shortage-in-new-zealand-sparks-crisp-crisis?utm_source=esp&utm_medium=Email&utm_campaign=Morning+briefing&utm_term=248101&subid=18211254&CMP=ema-2793 | 2017-10-16 12:33:33.093000 | A year of heavy rains has devastated New Zealand’s potato crop, prompting fears of a “chipocalypse”.
The rainfall, which included two “weather bombs” and two serious floods in both the North and South Island, has wiped out 20% of New Zealand’s annual potato crop, and 30% in the regions most affected, with the “crisping” varieties for potato chips taking the biggest hit.
The news has sent some New Zealanders into a spin with concerns that the shortage might affect their Christmas feasts and favourite rugby snack.
Some supermarkets have put up signs in their crisp sections alerting customers to the shortage, and although no panic buying has yet been reported, the shortage has been well raked over on social media.
Re: NZ #chipocalypse. Yes, there's a potato shortage. But before anyone suggests them, kale chips are an abomination. — Lachlan Forsyth (@LachlanForsyth) October 15, 2017
If we time the trademe auction right for Christmas, our 2 bags of Bluebird Chips should raise enough for a house deposit #chipocalypse — Creampuff (@ShoreGirlyGirl) October 14, 2017
If it takes a #chipocalypse to make NZers serious about climate change, then so be it — claudia (@claudiajardine) October 15, 2017
Chris Claridge, the chief executive of Potatoes New Zealand, said it was concerning for such a serious shortage to hit a staple food product that many New Zealanders relied on to bulk up their meals, and supermarkets had begun to report shortages of North Island-produced crisps.
“You can go for a week without politics but try going for a week without potatoes. It is a food staple and this is becoming a food security issue as the effects of climate change take their toll on our potato crop,” said Claridge, who said access to farming land was also becoming scarce as urbanisation ramped up.
“Potato farmers have been severely impacted. If they can’t harvest and process, they are not getting their income so there is that monetary impact. It is also quite distressing to be digging up rotting potatoes. It is a very important part of New Zealand psyche having potatoes.”
Potato crops planted last year have either rotted in the soil due to the heavy rains, or had to remain unharvested because of the torrential downpours. Next year’s crop will also be affected because the ground has not been dry enough for planting.
Potato-growing regions particularly affected by the weather include areas around Auckland and the Waikato, which have already experienced about 25% more rainfall than the annual average.
Foodstuffs, which owns New Zealand’s largest supermarket chains, said farmers had made them aware that potato products such as crisps and packaged, frozen chips might soon be affected, and the shortages could last into the new year.
“The grower community is highlighting a potential future potato shortage due to bad weather,” said Antoinette Laird, head of external relations for Foodstuffs. “This has not impacted our business as yet, and we are working with our suppliers to minimise any potential impact.”
New Zealand produces 500,000 tonnes of potatoes a year and is the ninth-biggest exporter of potatoes in the world. About two thirds of the annual crop are destined for processing, with 250,000 tonnes being made into chips (as in fish and chips) and about 75,000 tonnes into crisps.
Bharat Bhana’s family have been farming potatoes for 60 years in Pukekohe, which is south of Auckland. He said the heavy rains meant his business would run at a loss this year, with about a third of his potato crop destroyed.
“This year has been very unusual, we haven’t experienced anything like it and it has really caught a lot of us out,” said Bhana. “I don’t know how we can prepare for climate change. We could dig the spuds out earlier but then we wouldn’t have enough space to store them and we’d have to pay more to keep them cool.”
“We’ll do what we can, but what can we really do?”
Potatoes have been grown in New Zealand for 250 years, according to Potatoes NZ, and were introduced by Captain Cook who gave potatoes to two Māori chiefs in Mercury Bay. The vegetable was quickly adopted as a staple part of the local diet because it could be grown in much colder areas than kumara, which was already a staple food in New Zealand. |
Samsung steps up IoT push with mobile-coverage tracker device | Samsung's Connect Tag uses internet of things (IoT) technology to help users keep track of possessions and people. The 4.2 cm-wide and 1.19 cm-thick device contains a programmable embedded SIM (eSIM), and works with GPS, Wi-Fi-based positioning and cell ID to identify location data. The tracker links devices using the narrowband IoT (NB-IOT) standard, which offers stronger coverage, better power efficiency and lower operational costs. | https://venturebeat.com/2017/10/16/samsung-announces-connect-tag-tracker-that-uses-narrowband-iot/ | 2017-10-16 12:08:18.617000 | Missed the GamesBeat Summit excitement? Don't worry! Tune in now to catch all of the live and virtual sessions here.
There is no shortage of little portable tracker devices that you can attach to your keys or your dog to ensure you never lose the things that matter most. But Samsung has today announced the Samsung Connect Tag, one of the first mobile consumer products that uses the fledgling narrowband IoT (NB-IoT) standard to connect devices.
For the uninitiated, NB-IoT licenses small amounts of LTE cellular spectrum to carry data for low-bandwidth devices. NB-IoT offers many benefits, including strong coverage, greater power efficiency (to preserve batteries), support for many devices, and relatively low operational costs. As its name suggests, it was very much designed with the internet of things in mind, and moving forward it will likely be used to connect myriad IoT contraptions, from smart trash cans to parking bay sensors.
At just 4.21 centimeters wide and 1.19 centimeters thick, the Samsung Connect Tag is fairly small and sports an embedded SIM (eSIM), which is basically a non-removable, programmable “virtual” SIM that consumes less space and doesn’t require the user to install a physical card.
As with similar trackers on the market, the device can be put to any number of uses, such as finding lost keys or giving parents peace of mind when their kid is out and about. The Connect Tag works with GPS, Wi-Fi-based positioning (WPS), and Cell ID (CID) to identify location data indoors and outdoors.
Building on Samsung’s push into the broader IoT realm, the Connect Tag works in conjunction with Samsung’s SmartThings Hub and the Samsung Connect mobile app so users can control and configure things remotely, while being able to integrate the tracker with other connected devices. For example, a user could set up a geo-fence zone for their home so that lights turn on automatically when the Connect Tag comes within a pre-defined perimeter. Alternatively, it could be used to notify a parent when their child arrives at school.
Though similar features and functionality already exist in other products, Samsung is touting the NB-IoT element as a key selling point. While it offers cellular connectivity for constantly tracking a specific person or product, it also promises “up to” seven days on a single charge, which is pretty good. However, we will reserve judgement until we can test one of these devices out for ourselves.
A number of companies have raised big VC funding for mobile tracking contraptions, including San Mateo-based Tile and Santa Barbara’s TrackR. Earlier this year, New York-headquartered Lynq announced a $2 million round of funding for a tracker that lets you find anyone in a radius of up to five miles. This tracker sidesteps Bluetooth, maps, Wi-Fi, and cell networks with a decentralized peer-to-peer (P2P) network that uses a mix of radio frequencies, a custom antenna, and a long-range low-powered chip.
Put simply, there is big demand for tracker devices, and it’s a market that Samsung is now looking to infiltrate. The company is debuting the Connect Tag at its developer conference in San Francisco later this week. But the device will first go on sale in Korea before expanding to “select countries” at a later date. Samsung hasn’t given any indication of price or launch dates. |
UberEats accounts for a tenth of Uber worldwide bookings | UberEats, the independent food-delivery arm of ride-hailing firm Uber, accounted for between 8% and 10% of the parent's gross bookings during Q2 2017, with turnover in the same period of $700m to $870m, according to figures seen by the Financial Times. According to the figures, the UberEats app is set to record more than $3bn in gross sales this year, despite pulling in a profit in only 27 of the 108 cities in which it operates. | http://uk.businessinsider.com/report-ubereats-on-target-to-post-3-billion-in-sales-in-2017-2017-10 | 2017-10-16 12:06:51.923000 | A self-employed UberEats food delivery courier. REUTERS/Neil Hall
Uber's food delivery service has quickly grown into a huge operation that's creating billions of dollars in sales for the San Francisco-headquartered company.
UberEats accounted for 8-10% of Uber's global gross bookings in the second quarter, according to sources cited by The Financial Times on Monday that have reportedly seen the figures.
The figures cited by The Financial Times suggest that the two-year-old UberEats service — a standalone app separate from the main Uber taxi service — will record over $3 billion (£2 billion) in gross sales this year.
Uber declined to comment.
Uber has had a tough year. There are the accusations of corporate sexism. The video of its founder angrily berating a driver. Secret "Greyball" software designed to evade authorities. Executives obtaining the medical records of a rape victim. Lawsuits around the world. The resignation of CEO Travis Kalanick. The company also lost its operating licence in London last month.
But UberEats has managed to stay out of the limelight. The service is now active in 108 cities (40 of which are in the UK) across 29 countries. It's growing quickly, targeting 200 cities by the end of the year.
The unit had a turnover of $700 million (£527 million) to $870 million (£656 million) for the second quarter of this year, according to The Financial Times. Uber's total gross bookings during the period were $8.7 billion (£6.6 billion).
Uber's food delivery operation is underpinned by Uber's existing army of 2 million drivers, which can deliver food as well as passengers in some markets, as well as dedicated UberEats courier fleets.
Each UberEats sale includes the cost of the food and the delivery fee, meaning the average UberEats order is more expensive than the average Uber taxi ride.
But UberEats is unprofitable in most of the markets it operates in, with only 27 cities currently profitable.
There's also fierce competition in the delivery market.
UberEats goes head-to-head with the likes of GrubHub in the US and Deliveroo in the UK. Amazon has also launched its own restaurant food delivery service called Amazon Restaurants, which is available to Prime members, while Facebook launched a food delivery service in the US last week.
Additional reporting by Rob Price. |
Asos lets users search for items using photos instead of keywords | London-based fashion retailer Asos has claimed that visual search functionality could become the primary way customers look for items, two months after it launched its own version of the service. Richard Jones, director of product management, declined to give any specific figures regarding visual search, but said the tool had enjoyed "great engagement", and the company plans to promote it more heavily in the coming months. More than half of Asos' orders, and almost three-quarters of its global traffic, come from mobiles, with users spending a monthly average of 80 minutes on the site.
| https://digiday.com/marketing/asos-sees-potential-visual-search-drive-sales/?utm_medium=email&utm_campaign=digidaydis&utm_source=uk&utm_content=171016 | 2017-10-16 11:30:44.043000 | Two months after it started letting shoppers search its outfits using photos instead of keywords, fashion retailer Asos has seen enough to be sure visual search will help it convert those who are merely browsing.
Asos has an “upstream” problem that visual search could fix, said Richard Jones, director of product management for the site. Visitors unsure of what they want to buy discover only a fraction of the retailer’s catalog from its mobile app due to the limitations of screen size, search and site navigation. But when those same visitors upload pictures of outfits they like to Asos’ visual search tool, early results suggest it helps them more easily find what they didn’t know they wanted.
Asos has seen “great engagement” from visual search to date, and Jones stressed the feature could eventually become the way many shoppers discover outfits in its app. However, he declined to share statistics that support his belief in visual search so soon after its debut on Asos’ site. He said from the engagement he has seen, though, the feature gets people to spend longer in the app.
To use visual search in Asos’ app, people take a picture of an outfit, for which an Asos algorithm then finds the closest matches. Over time, shoppers won’t just receive similar matches, Jones said. They will also be served other products tailored to both their visual search and their preferences, which Asos’ bases on in-app purchase behavior. In the future, a visual search for a white pair of high-top Converse trainers would return other associated products such as a matching jumper the searcher might also want.
Getting those suggestions right is key to the longer journeys Asos wants from the app. Today, 70 percent of global traffic to Asos and over 50 percent of its orders come from mobile devices, with each user spending 80 minutes per month on average in its app. Jones expanded on the challenge ahead: “With something like keyword search, you almost have to know what you’re looking for before you type it. For someone that’s on more of a discovery journey, that really becomes an issue [when they’re in the app].”
There are still kinks to iron out. Some early users of the app have noted that visual searches don’t always return the items they know Asos sells. Jones downplayed the instances as teething problems that would soon improve as the algorithm and data it processes grow.
But none of these developments will matter if not enough people use visual search. Some observers have questioned whether shoppers will regularly search for products using visual search in the way Asos and other retailers hope. The fashion industry is littered with small tests as retailers ease their way into the technology.
Jones believes the tide will turn to visual search sooner rather than later, driven by the flurry of augmented reality apps that will take advantage of the iPhone’s recently updated camera lens. Additionally, Asos plans to promote the feature in the coming months after seeing much of the initial uptake for its own voice search uses driven without any marketing or signposting in the app. The more Asos can convince people to interact with visual search, said Jones, the better the tool can become. |
Apple says it plans to roll out e-payments service in India | Apple Pay services are on the cards for India. Eddy Cue, senior VP of internet software and services at Apple, said the company definitely wanted to introduce its e-payments product in the country, but did not reveal an estimated launch date. Asked about Apple's roadmap for Indian expansion, Cue said it was key to launch a full set of offerings, adding that there is a number of services in the pipeline that the company wants to make available in India first. | http://www.livemint.com/Companies/rHVsO1XUji1TumTlrS57ZO/We-see-India-as-a-very-longterm-opportunity-Apples-Eddy-C.html | 2017-10-16 11:08:54.217000 | In a career spanning nearly three decades at Apple, Eddy Cue, has been instrumental in helping build a number of key services such as Apple’s online store in 1998, the iTunes Store in 2003 and the App Store in 2008. Cue, senior vice-president of Internet Software and Services at Apple, is now spearheading the company’s push into key areas such as TV and Hollywood programming, video content and music, at a time when Apple is reportedly preparing a push into producing original content. In an interview, Cue, who till recently was also overseeing Apple’s voice assistant service Siri, spoke about the company’s plans for Apple Pay in India, how the company plans to expand in the country and the similarities between Apple’s founder Steve Jobs and current CEO Tim Cook. Edited excerpts:
What is Apple’s near-term road map for India?
The key is you want the full set of services. And you have some unique attributes to that. The number of languages that you support, for example. There are a bunch of services that we haven’t announced yet and are working on, for example, and we want them to be available in India first…Part of this and having the engineers here is to really make sure that we are thinking of India right from the product development cycle.
The digital payments business is widely being seen as the biggest battleground in India now and in the near future. What are Apple’s plans on that front?
Our head of Apple Pay, Jennifer Bailey, is here with me. And Apple Pay is something that we definitely want in India. The challenge with payment mechanisms is that there isn’t really a lot of global scale. You deal with individual markets at a time..but India is one of those markets where we hope to bring Apple Pay to.
Any time frame on when we can expect Apple Pay here?
We’re working on it, but no date to announce at this point. We like to announce a date that we know is a 100%.
You’ve worked with both Steve Jobs and Tim Cook over the past three decades. How do they compare as leaders?
The thing that they have that’s common and most important is products. What they cared about and what I care about is making the best products. And everything goes to that. So, that’s the focus. The attention to detail, all of the things that go into a product, is a common thing that both Steve had and Tim has and most importantly, the culture that you’re creating that Apple has that Steve created. So, I don’t see any differences in that. They are different people, but their accomplishments and successes are very similar. And when you look at the last five years that Tim’s been the CEO, there have been incredible accomplishments from Apple on the product front. And that shows the similarities. I’ve worked with both of them—I’ve worked with Steve for 20 years, I’ve worked with Tim for 20 years, so I know them both very, very well. I can’t imagine that I could’ve ever worked for better CEOs in my lifetime.
What’s Apple’s vision with TV and Hollywood programming? How does Apple plan to disrupt this space?
We’re doing some future stuff that we haven’t talked about, around it. We’ll talk more as we have more to say…I don’t think it’s about us disrupting it. The reality is that it’s going to get disrupted whether we do it or not. It’s already started and we think we can do things that are innovative and we’ll bring things to that ecosystem and platform that are unique to us. That’s the opportunity.
Till about five years ago, when TV entertainment and content was widely seen as the biggest battleground for tech companies, Apple was seen as the leading contender to disrupt that space, given its history of coming out with industry-shaping products such as the iPhone. That story hasn’t quite played out—in some sense, has Apple missed the bus with content and entertainment?
The way we look at this is the majority of customers get their content from a satellite or cable television service or antenna. That’s true in most places in the world. And though there have been some new things that have come in, that’s still the predominant way. That predominant way I believe is going to change over the next 10 years significantly. With a lot of changes come different opportunities because they’ll be replaced by other ways to get video or they’ll be replaced by other forms of entertainment around it. And that’s the opportunity that we see. So, when you look at it today, we want to help the existing players. So, while people will say that Apple was slower—as a matter of fact, we’ve been way faster because what we did is, we said ‘you have the content, you have a relationship with the customer, let’s make sure that your applications give access to the customer. And if you want to sell something to the customer, we’ll help you with that also because we have a mechanism that makes it really easy to pay.’ The next thing is when you have all these apps out there, you really want to have a centralised way. That’s where the TV app comes from. I think we’ve been addressing the things that are in the market today. Your question, bottomline, falls into Netflix.
Apple historically has a track record of coming out with industry-defining products, whether it’s the Mac or iPhone or iPod. But over the past decade, there’s a been perception that the pace of innovation and the pace at which Apple has come out with game-changing, breakthrough products has slowed somewhat. What do you have to say about that?
No way! First of all, the iPhone is 10 years old. That is the last decade. The iPad came after that and the Watch came after that. So, I disagree vehemently with that and I think we’ve been incredibly innovative. That doesn’t even take into account the work that has been done on the Mac, iOS and MacOS, from that standpoint where I think we’ve led the market. When you think of the products that we’ve built over time, you own a lot of them. And you just assume that every year was a new product. But it wasn’t. You can’t do revolutionary new products, every two months or six months or whatever. They take time.
Coming back to India, tell us a little more about where India fits into Apple’s broader scheme of things.
We view this as a very long-term opportunity but with very short-term gains that we can have here. With the services piece, we started this on three fronts. Let’s take the biggest piece of services which is the App Store.
Firstly, we want to have a vibrant ecosystem of developers. What happens with that is because we have a lot of customers in India and around the world, all of a sudden they could make some significant money.
The second one is Maps and Maps is something that we started a long time ago and when I took it over, one of the things we decided is that we wanted to make our Maps really best in class. One of the areas that we thought was a great opportunity to invest in was here. We now have over 4,000 people working on Apple Maps.
The third (piece) is call it the services like iCloud, Music, Movies, etc. One of the opportunities is the music industry here has either been free or there’s nothing much more than free. If you look at it, almost all the music scene is related to Bollywood because there is economic value there. And I think that’s great — we can help that. We sell those movies on a global scale, we sell them here. And we can do that piece of it, and we’ll obviously have music in that way. But if you’re a musician and not part of Bollywood and you’re an indie musician, it’s really hard. So, one of the things that we wanted to do was really expand the music space to allow everyone to be able to monetise and get paid from that standpoint. So, we launched Apple Music about a year and a half ago and we’re thrilled with the results. |
Santander leads $6m funding round in Mexican company ePesos | Mexican mobile payments start-up ePesos has raised $6m in a funding round led by Santander. The ePesos platform offers short-term working capital to small and medium businesses without a bank account, with borrowers receiving and repaying funds through a mobile wallet. It has also teamed up with HR software firms to offer payroll advances, so workers can access funds without going through complicated internal procedures. VilCap Investments, Pomona Impact and Fiinlab also participated in the funding round.
| https://www.finextra.com/newsarticle/31194/santander-innoventures-leads-6m-funding-round-for-mexicos-epesos/inclusion | 2017-10-16 10:47:59.893000 | Santander's fintech venture capital fund has led a $6 million funding round for ePesos, a Mexican mobile payments startup targeting underbanked small businesses.
VilCap Investments, Pomona Impact, and Fiinlab, the innovation lab owned by Gentera, joined Santander InnoVentures in the round.
Through its platform, ePesos offers low-cost short-term working capital through a revolving line of credit to SMEs without a bank account. Borrowers receive and repay funds through a custom built mobile wallet.
In addition, ePesos is partnering with HR software companies on payroll advances so that firms can let employees access funds instantly without going through complicated internal procedures.
Manuel Silva Martínez, head, investments, Santander InnoVentures, says: "Our investment in ePesos is a proof of our commitment to global financial inclusion and helping small businesses prosper - something Santander InnoVentures has made a priority."
Martínez adds that the deal is a stepping stone into Latin America for the $200 million fund, which has invested in 17 fintech startups since launching in 2014 but has so far focused on European and North American firms. |
Washington Post aims to extend business model to Europe | The Washington Post will utilise is proprietary Arc technology to bring in subscriptions and advertisers as the paper expands its international digital presence. The publisher is in discussions with Spanish and Swedish counterparts about the Arc infrastructure, which improves visibility and page loading times. However, CRO Jed Hartman admitted that building the Post's reputation as a news brand outside the US could be a "case of talking to one client, one agency at a time, to really change perception".
| https://digiday.com/media/inside-washington-posts-international-expansion/?utm_medium=email&utm_campaign=digidaydis&utm_source=uk&utm_content=171016 | 2017-10-16 10:43:04.347000 | For U.S. publishers expanding internationally, one of the biggest challenges is brand perception. Encouraging agencies across markets to spend budget with news brands that are globally respected yet not regarded as go-to environments for local or non-U.S. campaigns is a time-consuming process. But The Washington Post is in it for the long game.
Under Amazon founder Jeff Bezos’ ownership, the publisher has created an engineering army and its own technology infrastructure called Arc. That’s given the Post more control over load speeds and better visibility into its users, what stories they read and their preferences for video or photo-led content — information that’s fed back to the newsroom. Arc has also opened up new revenue streams, with the Post selling the tech to other publishers including Toronto’s The Globe and Mail and the Los Angeles Times. Arc is now attracting interest from European countries, with conversations happening with major publishers in Spain and Sweden, according to Jed Hartman, the Post’s chief revenue officer.
The Post has worked on altering the perception of its brand in its domestic market, too. “In the U.S., a lot of people used to think of us as a Washington, D.C., politics title. It’s taken several years to break that perception, but only 5 percent of our audience is actually in Washington,” said Hartman. “Our reputation hasn’t caught up to the facts.”
The title wants to increase both international digital subscriptions and advertising revenue. Building its overseas audience, powered by its fast-loading distribution platform, will in time fuel subscriptions and advertising, Hartman said. The Post said it generates over $100 million from digital advertising globally and claims it has 90 million monthly unique users in the U.S. and 30 million internationally. That scale afforded it the freedom to tinker with its metered paywall, Hartman said. “We’re optimizing it [the paywall] in the U.S., and then we’ll begin to roll it out around the world, in a way that’s in line with the new General Data Protection Regulation,” he added. The Post has 1 million digital-only publications globally, a figure it doesn’t break out by country.
Over the last year, the Post has heavily marketed its daily WorldViews newsletter, which puts an international lens on news and analysis on political outcomes from Washington and is led by stories such as “Ditching deals has become Trump’s main foreign policy.” There are also plans to deeply cover areas like the World Economic Forum in Davos via newsletters to further build its audience and, ultimately, subscriptions.
On the advertising side, it’ll likely take longer to build its reputation as a global news brand. “It can be a case of talking to one client, one agency at a time, to really change perception,” said Hartman. “That’s not the most efficient way, perhaps, but it’s the most effective, as long as we have the content to support it. By pushing out more content, that will help raise awareness with the agencies.”
The Post has had skeleton sales staffs in countries like the U.K., France and Singapore, relying on local sales houses to drive its advertising revenue, which has been a mix of programmatic and direct sales. But it has just hired its first London brand studio executive to build out the branded-content studio for Europe advertisers — an area of the business that has until now been handled solely in the U.S.
One of the big points of focus in the next six months will be ensuring major brands in the energy, banking and financial sectors recognize the size of the Post’s platform and feel assured their ads will be served in a fast, non-intrusive, brand-safe environment. “Internationally, we’ve been more of a transactional ad seller, but we want to become more of a content solutions provider,” said Hartman. “That’s our pivot.”
Hartman will speak in-depth at Digiday’s Publishing Summit Europe in Berlin on Oct. 24 about how to build a sustainable business model for serious news. |
Dutch solar cars win annual race in Australia | Dutch solar car technology dominated this year's World Solar Challenge, a 3,000km race from Darwin to Adelaide in Australia. Cruiser class-winning Team Eindhoven's family car Stella Vie was dubbed "the future of solar electric vehicles", thanks to its smart charging and discharging system, which feeds excess energy back into the grid. The Nuna 9, which averaged a speed of 81.2 kph, scooped the top prize for the third year running in the Challenger class. | https://phys.org/news/2017-10-futuristic-solar-powered-dutch-family-car.html | 2017-10-16 10:33:31.857000 | Solar Team Eindhoven's "Stella Vie" was hailed as the future of sun-powered motoring as the 3,000-kilometre World Solar Challenge wrapped up
A futuristic Dutch family car that not only uses the sun as power but supplies energy back to the grid was hailed as "the future" Sunday as the World Solar Challenge wrapped up.
The innovative bi-annual contest, first run in 1987, began in Darwin a week ago with 41 vehicles setting off on a 3,000-kilometre (1,860-mile) trip through the heart of Australia to Adelaide.
Dutch car "Nuna 9" won the race for the third-straight time, crossing the finish line on Thursday after travelling at an average speed of 81.2 kilometres per hour (55.5 mph).
It was competing in the Challenger class, which featured slick, single seat aerodynamic vehicles built for sustained endurance and total energy efficiency.
But there was also a Cruiser class, introduced to bridge the gap between high-end technology and everyday driving practicality.
German team HS Bochum was the first to arrive Friday with its stylish four-seater classic coupe, featuring sustainable materials such as vegan pineapple leather seats.
But another Dutch team, Eindhoven, was set to be crowned overall champion based on a system taking into account design, practicality, energy efficiency, and innovation, organisers said.
Their family car, "Stella Vie", carried five people at an average speed of 69 kilometres per hour, with event director Chris Selwood saying it was a practical demonstration of what the future might look like.
"These incredible solar cars have been designed with the commercial market in mind and have all the features you'd expect in a family, luxury or sporting car," he said.
"Team Eindhoven are to be congratulated on their achievement to date—clearly the most energy efficient solar car in the field, capable of generating more power than they consume.
"This is the future of solar electric vehicles. When your car is parked at home it can be charging and supplying energy back to the grid."
Cars in the race were mostly developed by universities or corporations, with teams hailing from around the world.
They were allowed to store a small amount of energy but the majority of their power had to come from the sun and the vehicle's kinetic forces.
Team Eindhoven said its vision had been to build a family car with a balance between aerodynamic, aesthetic and practical design.
"We think we succeeded very well with a car that is more efficient than its predecessors and includes some state-of-the-art technologies to not only generate energy but also supply it back to the grid," they said.
"Through a smart charging and discharging system she charges the battery when the demand of energy from the grid is high and vice versa. Any surplus energy generated can easily be supplied back to the grid."
Of the 12 Cruiser class cars that started, six finished.
As well as the German and Dutch entrants, vehicles from Australia, Hong Kong, Taiwan and the United States also crossed the finish line.
© 2017 AFP |
Dutch solar cars win annual race in Australia | Dutch solar car technology dominated this year's World Solar Challenge, a 3,000km race from Darwin to Adelaide in Australia. Cruiser class-winning Team Eindhoven's family car Stella Vie was dubbed "the future of solar electric vehicles", thanks to its smart charging and discharging system, which feeds excess energy back into the grid. The Nuna 9, which averaged a speed of 81.2 kph, scooped the top prize for the third year running in the Challenger class. | https://www.theengineer.co.uk/dutch-3000km-solar-car-race/ | 2017-10-16 10:33:31.857000 | A team from the Netherlands has won the 2017 World Solar Challenge, a gruelling 3000km solar-powered car race from Darwin to Adelaide along the infamous Stewart Highway.
The Nuon Solar team celebrates its 2017 victory
The Nuon Solar team, which is based at the Delft University of Technology crossed the finish line five days after leaving Darwin. It was almost two hours ahead of its nearest rival, a team from the University of Michigan and two and half hours ahead of the third-placed Belgian Punch Powertrain team. The win is the Nuon Solar’s seventh title.
Unfortunately, the main UK contender, Cambridge University Eco Racing (CUER) was forced to pull out of the competition following an accident during testing, resulting from a sudden loss of dynamic stability.
Second placed Novum 2 powers across the outback
Nuon took an early lead in this year’s competition, which its strategists say they maintained by carefully watching the weather, energy consumption and predicting the best way through the clouds. The team also had to adjust its strategy and driving style to “nerve-wracking” weather conditions that saw wind gusts of up to 60 kilometres per hour. Aerodynamics expert for the team, Jasper Hemmes, said drivers were instructed to position the solar car in such a way to profit from the winds as if it were a sailing ship.
The World Solar Challenge, which occurs every two years, has been running now for three decades.
The winner of this year's Cruiser class competition
Alongside the main competition, this year’s event also featured a Cruiser class, designed to stimulate and showcase ways in which solar-powered cars might one day make into the mainstream. This year’s competition was won by a team from Eindhoven whose Stella Vie car carried an average of 3.4 people over the 3021km route using just 45.7kWh of external energy. By comparison, a Tesla Model S85 (85kWh battery) has a practical range of about 400km. |
Senate committee seeks answers on drug pricing | Follow the money. If only it were that simple when it comes to understanding how much prescription drugs cost—and why. The Senate Health, Education, Labor and Pensions Committee will take another journey down the rabbit hole on Oct. 17, this time focusing on the delivery system. The committee started its probe in June with a hearing aimed at getting a basic understanding of the issue.
| http://www.modernhealthcare.com/article/20171014/NEWS/171019914 | 2017-10-16 10:15:53.573000 | Follow the money. If only it were that simple when it comes to understanding how much prescription drugs cost—and why.
The Senate Health, Education, Labor and Pensions Committee will take another journey down the rabbit hole on Oct. 17, this time focusing on the delivery system. The committee started its probe in June with a hearing aimed at getting a basic understanding of the issue.
"More than 4 billion prescriptions are written for drugs each year for Americans who then receive those drugs at 60,000 drug stores, from doctors or hospitals and from online pharmacies. The total cost to the overall health system of these prescriptions each year is $450 billion, to be paid by taxpayers, patients, hospitals and insurers, among others," committee Chairman Lamar Alexander (R-Tenn.) said during the June hearing. "This is a discussion that affects the well-being of every American family. It is important that we work together to conduct this fact-finding in a bipartisan way."
While the June hearing was billed as a bipartisan effort, several Democrats used it as an opportunity to blast the GOP's efforts to derail the Affordable Care Act.
At the Oct. 17 hearing the committee will listen to testimony from officials representing big pharma, generic drug manufacturers and pharmacists. One topic that's sure to come up is trying to understand where the money goes.
A study published in June in Health Affairs tried to trace exactly that. Looking at a hypothetical $100 prescription, researchers combed through Securities and Exchange Commission filings and other analyses and projected gross profit for branded drug manufacturers to total $58 and $18 for generic makers. The study also found that pharmacy benefit managers raked in four times as much on generic drugs versus brands.
The concern is that policymakers will rush to judge the entire industry though a single lens, rather than assessing each player differently, said Chester "Chip" Davis, CEO of the Association for Accessible Medicines, which represents generic drug manufacturers. Davis is slated to testify at Tuesday's hearing. |
Bills Would Increase Transparency In Drug Pricing | Democratic State Representative Deb Kolste of Janesville has introduced a package of bills focused on reforming the pharmaceutical industry, including legislation to increase transparency in how prescription drug manufacturers set their prices.
| http://wxpr.org/post/bills-would-increase-transparency-drug-pricing | 2017-10-16 10:15:15.887000 | Democratic State Representative Deb Kolste of Janesville has introduced a package of bills focused on reforming the pharmaceutical industry, including legislation to increase transparency in how prescription drug manufacturers set their prices.
One bill requires drug manufacturers to notify the state prior to price increases of more than 25 percent. They would also be required to include a justification for the price hike and detail the amount of rebates provided to Wisconsin residents. Other bills would prevent insurance companies from removing prescription drugs from their formularies while a contract with a consumer is in place.
Kolste says consumers have been given little insight into what is driving drug prices to record highs. She says consumers are simply given higher prices without any transparency from manufacturers... ".....it is at a crisis point for insurance(companies), governments, and consumers to try and get a handle on pharmaceutical drug pricing. Polls by Kaiser Foundation and Harvard point out that pharmaceutical prices are becoming the number one concern of American, a bipartisan concern by the way...."
Citizen Action of Wisconsin Director Robert Kraig says one example is NARCON, the drug used to save lives in opiate overdoses...
".....it has gone up in price from $690 in 2014, an established prescription drug, no changes, to more than $4,500 today, a price increase in more than two years. Given the opiate epidemic, that can only be described as price gouging...."
The Citizen Action of Wisconsin report is here. |
Fires Prey On Frail Residents Living On Their Own |
They were asleep when the fire reached their home. Charles Rippey, 100, and his wife, Sara, 98, had been married 75 years. They died together, after a caregiver struggled to save them but couldn’t get them out in time.
| https://khn.org/news/fires-prey-on-frail-residents-living-on-their-own/ | 2017-10-16 10:14:26.130000 | They were asleep when the fire reached their home. Charles Rippey, 100, and his wife, Sara, 98, had been married 75 years. They died together, after a caregiver struggled to save them but couldn’t get them out in time.
A 27-year-old woman had spina bifida and used a wheelchair. In the hours after the fires broke out, her relatives frantically sought information about her whereabouts. When a fire inspector visited her home, he found her body.
Wildfires continue to spread through Northern California counties, already taking the lives of at least 31 people. Hundreds more are missing. Local officials and advocates fear that many among them are seniors or disabled people unable to flee, as many residents have, on a moment’s notice.
Others have been saved only by luck and quick-thinking neighbors.
Use Our Content This story can be republished for free ( details ).
In Mendocino County’s Redwood Valley community, retired firefighter RedHawk Palleson came across a disoriented elderly woman wandering in his neighborhood and an older couple in their bathrobes as flames chased them down the street, the Santa Rosa Press Democrat reported. He drove them to safety in his truck.
The deaths and close calls illustrate the particular vulnerability of frail people living on their own during a fast-moving disaster. “The fires have raised a lot of questions about how we respond and provide safety to vulnerable people in an imminent crisis,” said Marty Omoto, executive director of the California Disability Community Action Network. “We have to ask ourselves how we respond when there’s no warning.”
Omoto said he is still trying to reach friends and colleagues living with disabilities in the region. “We’re operating on hope,” he said.
In both Sonoma and Napa conties, where the wildfires have been the most severe, about 18 percent of residents are age 65 or older, higher than the statewide percentage of 13.6 percent, according to U.S. Census data. About 6 to 8 percent of those counties’ residents have disabilities.
This week, people posted poignant queries on social media hoping to find loved ones still missing. “Has anyone seen the woman on the right?” Elizabeth Northrup wrote on Facebook, providing a picture of an older woman. “Her name is Norma Lou Peoples. She uses a red walker.”
Nursing homes aren’t fail-safe, as was tragically illustrated by the eight deaths in a sweltering Florida nursing home left without air conditioning after Hurricane Irma. But they, along with assisted living facilities and homes for the disabled, do have disaster and evacuation plans. In-home caregivers rarely get training on how to help their clients in an emergency, Omoto said, and in a disaster they may have their own families to care for. And of course some frail people don’t receive in-home care.
Marianne McBride, president and CEO of Sonoma County’s Council on Aging, said Wednesday that she and her staff were still trying to track down the agency’s social services clients, including up to 1,200 who regularly receive “meals on wheels.”
It was a challenge. Over the weekend, cellphones either didn’t work or worked only sporadically as the fire destroyed 73 cellphone towers. Internet and electricity were down in some areas. But by Monday, the agency had reached 600 seniors, McBride said.
McBride, whose brother lost his home in the fires, said seniors or disabled people should consider keeping their landlines rather than relying only on cellphones. She also said social service providers should keep paper copies of client locations as a backup when internet and electrical services fail.
McBride also recommended that family members get acquainted with the neighbors of their elderly relatives and provide them with their contact information in case of emergency. Neighbors have to look out for each other, she said.
“There’s not a service agency that can take care of all the aging individuals that we have in the community,” McBride said, choking back tears. “What the fires bring out is that the only way we’re going to successfully age is if we do so in community, and the community feels it has a responsibility to look out for neighbors and get them the resources they need.”
As developmentally disabled people increasingly live independently, they too need support both during and after disasters.
Vicki Smith, a deputy director at the California State Council on Developmental Disabilities, said the public agency in the past year has trained more than 1,100 developmentally disabled people in disaster preparedness with simplified materials, including how to assemble an inexpensive emergency backpack. She estimated that there are more than 10,000 developmentally disabled people living in Sonoma and Napa counties.
Disaster experts say the general preparedness recommendations for everyone are even more important for people with limited mobility. For instance, keep the car gassed up and put a change of clothes and an emergency kit in the trunk. And sign up for your community’s alert system (although there were some complaints from Northern California residents that they never received these alerts).
Nancy McPherson, state director for AARP California, urged people to learn ahead of time the routes to buildings likely to be used as shelters during an emergency, such as a local high school.
McPherson said the AARP has partnered with the Federal Emergency Management Agency in the past, but this year’s severe hurricanes and fires have sparked a new effort to make emergency preparedness for seniors “more robust,” she said.
Some communities have tried to develop registries of elderly and disabled people who might need rescue in emergencies, but such registries are difficult to keep current, McPherson said.
“There’s been a lot of thinking about this, but plans get put on a shelf and we tend to forget that they are there,” McPherson said.
This story was produced by Kaiser Health News, which publishes California Healthline, an editorially independent service of the California Health Care Foundation.
KFF Health News' coverage of aging and long-term care issues is supported in part by The SCAN Foundation. |
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