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YouTube tries to tap TV budgets with brand-integration opportunities | YouTube is selling advertisers sponsorship and brand-integration opportunities for its growing roster of free-to-watch video series. The move comes as part of YouTube’s expansion of the company’s ongoing efforts to tap marketing budgets previously reserved for traditional TV advertising. The company has announced plans to fund seven more original video series with budgets for these shows ranging from between $500,000 to $1m per episode. Advertising however does not come cheap, with packages for the Ellen DeGeneres series “Ellen’s Show Me More Show” for example ranging from roughly $500,000 to $1.5m. | https://digiday.com/media/youtube-ad-supported-original-series/?utm_medium=email&utm_campaign=digidaydis&utm_source=daily&utm_content=170922 | 2017-09-25 05:10:53.840000 | YouTube is hoping to pull from TV ad budgets by offering advertisers sponsorship and custom brand-integration opportunities for its growing slate of free-to-watch video series.
During its Brandcast event in May for advertisers, YouTube announced plans to fund seven original long-form video series, which would be available for free on the platform. YouTube’s budget for these shows is roughly between $500,000 and $1 million per episode, according to two sources. This puts YouTube on par with cable budgets, but not “premium” cable fare such as scripted shows on HBO and AMC.
Since it announced the shows, YouTube has been busy selling advertisers on sponsorships and brand integrations for the shows. This week, it rolled out “Ellen’s Show Me More Show,” which goes behind the scenes at Ellen DeGeneres’ daily talk show. L.L. Bean and STX Entertainment are the U.S. sponsors for “Ellen’s Show Me More Show,” which will run for the next 14 weeks, with Hyundai signed on as a sponsor for “Ellen’s Show” in Australia.
Previously announced advertisers for YouTube’s ad-supported originals include Johnson & Johnson, which will be the exclusive sponsor for “Best.Cover.Ever,” a singing-competition series from Ryan Seacrest premiering later this fall; while Ulta Beauty is exclusively sponsoring singer Demi Lovato’s “Simply Complicated,” also premiering later in the fall.
Advertising against YouTube’s ad-supported originals does not come cheap. According to one media buyer pitched by YouTube, ad packages for “Ellen’s Show Me More Show” ranged from roughly $500,000 as an entry point to $1.5 million for a “fuller buy.” Another source said ad packages for the originals could be priced even higher.
YouTube declined to comment on pricing.
“With more and more new series showing up ad free on subscription services and premium cable channels — just look at the recent Emmy winners — we’ve seen a real hunger from brands interested in supporting content in new and exciting ways, which is why we’ve decided to partner with them to revert this trend,” said John Nicoletti, managing director of agency development for Google.
YouTube’s pitch to advertisers includes access to video inventory running alongside the shows as well as different in-show integrations that can be customized based on show format. This includes custom segments within shows, branded set pieces and other similar opportunities, YouTube said. YouTube also offered advertisers a minimum “share of voice” across show inventory, which was done since it’s difficult to guarantee minimum impressions for this new programming, one ad buyer said.
YouTube’s ad-supported originals can be seen as an expansion of the company’s ongoing efforts to pull in more TV ad dollars. YouTube’s head of original content Susanne Daniels, a TV veteran, basically expressed as much at Cannes Lions earlier this summer.
“This is Google’s attempt to be more Hulu-like, but we aren’t talking about 30 minutes to an hour of scripted programming; these very much feel like YouTube-ish shows but with top-tier talent,” said one media buyer pitched by YouTube, speaking under the condition of anonymity. “There are degrees of premiumness, and you have to take that into account.”
Google Preferred, YouTube’s ad program that opens top YouTube channels to advertisers, is the company’s other big effort to chase TV ad dollars. Since it launched three years ago, the program has seen 30 percent more U.S. advertisers year over year buying Google Preferred inventory. The program is now available in 20 markets.
“The integration opportunities these ad-supported shows provide along with the scale of Google Preferred lineups are a powerful combination that marketers are finding very attractive,” said Nicoletti.
Ad buyers estimate there are about 8,000 channels in Google Preferred, which can make the program tricky to navigate — and not every channel carries the type of professionally produced videos that advertisers are comfortable with. In this context, creating original shows that meet a certain standard of quality makes sense for YouTube.
“There is the reassurance that this is coming from top talent and something that YouTube is personally investing in,” said Marianne Rush, associate media director at GSD&M. “It gives you a safeguard versus general [user-generated content] and cheap influencer content on YouTube.”
“It’s definitely a benefit,” said another ad buyer, who also prefers anonymity. “They’re not creating this content for fun; they’re creating it to put advertising against. These shows are specifically being developed to sell.”
But that doesn’t mean advertisers won’t make the buy — and pull in dollars from TV budgets.
“There’s no question that people are spending time watching videos — whether it’s Ellen or Demi Lovato — on YouTube,” said Sarah Baehr, evp and managing partner of digital investment at Horizon Media. “Depending on who you want to reach, as an advertiser, you need to make a decision on whether you can find those eyeballs somewhere else. In that sense, YouTube, as a part of the overall video mix, can pull some TV ad dollars.”
Image via YouTube |
Uber CEO apologises and promises change after London ban | Uber’s CEO, Dara Khosrowshahi, has apologised for the firm’s mistakes in its London operation and pledged to implement changes. The comments, made in an open letter, come in response to Friday’s decision by Transport for London (TfL) not to renew Uber’s licence to operate in the city after it expires on 30 September. TfL claimed that Uber was not “a fit and proper” operator and cited concerns over issues including the company’s reporting of criminal offences. Uber, which will appeal TfL’s decision, has set up a working group on this issue. | https://www.theguardian.com/business/2017/sep/25/uber-tfl-concerns-vows-keep-operating-london-licence | 2017-09-25 04:29:37.297000 | Uber’s chief executive has apologised for the taxi app’s mistakes in London and promised to change as the company fights a decision by the city not to renew its licence.
The firm is battling to keep operating in the capital after Transport for London decided not to renew its licence to operate. Uber’s London licence expires on 30 September, although it will continue to run taxis while it pursues a legal appeal process that could last a year.
TfL said last week Uber was not a “fit and proper” private car-hire operator and cited four areas of concern, including its approach to reporting criminal offences and carrying out background checks on drivers. But sources close to TfL indicated that a change of conduct from the taxi firm, the culture of which is being reformed by its new chief executive, could leave the door open to a fresh licence application.
Dara Khosrowshahi, who succeeded Uber founder Travis Kalanick as CEO a month ago, wrote in an open letter: “While Uber has revolutionised the way people move in cities around the world, it’s equally true that we’ve got things wrong along the way. On behalf of everyone at Uber globally, I apologise for the mistakes we’ve made.
“We will appeal [against] the decision on behalf of millions of Londoners, but we do so with the knowledge that we must also change.”
Sadiq Khan, the London mayor and chair of TfL, said he welcomed Khosrowshahi’s apology. “Obviously I am pleased that he has acknowledged the issues that Uber faces in London,” Khan said. “Even though there is a legal process in place, I have asked TfL to make themselves available to meet with him.”
However, another Uber executive told the BBC on Monday he company did not understand the concerns of London’s transport regulator.
Fred Jones, an executive at Uber’s UK operation, said: “Sitting down with TfL representatives as soon as possible would be the most helpful thing to really understand their concerns, to work out what they are. It is just not clear to us what those concerns are.”
When asked why Uber does not report criminal offences directly to the police and instead notifies TfL, which lengthens the investigative process, Jones said: “We follow the rules.”
Referring to one specific incident involving an Uber driver who sexually assaulted a passenger, he said: “We hold our hands up, we made a mistake. In that incident we just didn’t realise when that passenger wrote in how serious it was ... We apologise to everyone involved.”
The Uber driver involved stayed on the company’s books and went on to commit another, more serious, attack.
Jones defended Uber’s usual practice of notifying TfL of criminal offences. “As soon as we receive a serious complaint or we are alerted of it, we restrict the access to the app and immediately investigate and that would involve notifying TfL.”
He added that Uber had set up a working group. “This is absolutely something we will work on with the police. This is absolutely an area where we want to go further.”
Khan said Uber had brought “unfair pressure” on TfL, employing an “army” of PR experts and lawyers.
The mayor said: “I want companies that abide by the rules, I want companies that innovate, harbour new technologies, I want disruptive technology coming to London but you’ve got to play by the rules.”
In a separate dispute, Uber will on Wednesday challenge a tribunal ruling over the employment status of its drivers, which lawyers say is also a public safety issue. Uber is attempting to overturn a landmark ruling that its drivers are workers, with rights to paid holiday and the minimum wage.
Lawyers representing the original claimants, James Farrar and Yaseen Aslam, said Uber was deliberately “kicking the can down the road” and had so far ignored the ruling from October last year. Paul Jennings, of Bates Wells Braithwate, said: “At the heart of this is safety. Imagine if it was bus or train drivers who couldn’t take a paid holiday. Given the numbers involved and the nature of this work, there is a real risk.” |
Michelin's next-gen wheel concept uses biomaterials | French tyre manufacturer Michelin is working on a 3D-printed concept that replaces the traditional tyre and wheel combination with an airless prototype called "Vision", created using biodegradable materials such as food waste and bamboo. According to Terry Gettys, Michelin’s head of research and development, the tyres could be retrofitted for changing weather conditions, while the advent of self-driving cars would eliminate the need for handling feel, enabling developers to focus on getting the prototype to deliver a smooth, comfortable ride. Gettys said more research is needed before the new tyre could go into commercial production. | https://www.theverge.com/2017/9/24/16126356/michelin-3d-printing-reinvent-the-wheel-driverless-age | 2017-09-25 01:23:37.370000 | They’re completely airless, last virtually forever, and could be the perfect tire for our autonomous future. Michelin, the 128-year-old tire manufacturer based in Clermont-Ferrand, France, recently unveiled a 3D-printed tire concept that it says could be the ideal ride for self-driving cars. It just needs to figure out how to actually manufacture them first.
Dubbed “Vision,” these spidery, psychedelic-looking sponges are printed from bio-sourced and biodegradable materials, including natural rubber, bamboo, paper, tin cans, wood, electronic and plastic waste, hay, tire chips, used metals, cloth, cardboard, molasses, and orange zest.
“replace a tire-and-wheel-combination with a unique structure”
While it may sound like Michelin is rooting through your compost pile to come up with its futuristic concept, there’s more to it than that. These tires would be embedded with RFID sensors to collect data and predict performance and function of the vehicle. And they will be adaptive to different conditions. Heading to the mountains for some skiing? Drive through a Michelin printing station and get your tires retrofitted for snowy terrain.
“This concept vision is a dream for an ideal solution for the long-term,” said Terry Gettys, Michelin’s executive VP for research and development. “We’re confident you can replace a tire-and-wheel-combination with a unique structure, carry the load, provide good comfort and noise, and we’re very encouraged that can be the solution of the future.”
If cars become fully autonomous, then the traditional design language that has held up for decades goes out the window. Engineers and automakers are already beginning to rethink the vehicle’s interior, removing steering wheels, adding bookshelves, and positioning car seats to face one another. Rather than be left behind, Michelin is contributing to this effort through its reinvention of its tires, both in form and function.
Michelin
Michelin
“As vehicles become more automated, the requirements for handling and driving pleasure are greatly diminished,” Gettys said. “In fact the passengers when they turn over the driving to the car, they don’t even care about the handling feel. And as such, there’s going to be a huge shift in customer expectations toward comfort and noise.”
He continued, “They’ll want to enter the vehicle like a cocoon and have a very pleasurable experience getting to their destination, but that pleasure coming from using their telephone, their PC, discussing, and being totally oblivious to the distractions outside.”
“totally oblivious to the distractions outside”
The concept of “air-free” tires isn’t new. Bridgestone has been playing around with the idea since 2013, when it unveiled its first air-free concept for tiny, smart-car sized vehicles. It was a bid to reduce the need for drivers to pull to the side of the road to fix flat tires, as well as reduce CO2 emissions and create a more sustainable drive. Recently, it began testing airless bicycle tires.
The Vision tire first debuted at the company’s Movin’ On conference in Montreal earlier this year. Michelin then brought samples of the 3D-printed tire to New York City in early August for more exposure. But a brief trip through the 128-year-old company’s history reveals that this isn’t Michelin’s first rimless, airless tire to be released. The Tweel, an airless tire concept that emerged over a decade ago, is currently in use in small-frame, low-speed vehicles and appliances like golf carts and lawn mowers.
The limited application of the Tweel hints at the challenges Michelin will face in mass producing its 3D-printed concept. “It’s really not an existing product,” Gettys said. “We don’t have all the materials to make this work.”
Michelin
So what’s missing? Michelin already manufactures tires with embedded RFID sensors for groups like the Porsche Club and truckers, allowing for the monitoring of things like temperature and pressure. So connected tires won’t be too difficult, Gettys said. The long-term challenges relates to printing the entire material structure from biodegradable materials like sugar stalks and orange zest. That will require much further research, he admits. But Michelin is working with a number of external partners and predicts being able to entire into production by 2023.
It’s admirable pursuit, and a sustainable one too. Currently, over 70 percent of tires produced globally are made from non-biodegradable materials. (Just think of the eternal burning tire pile in The Simpsons.) Natural rubber is replenishable, but most of the materials are petroleum-based. Its taken researchers 10 years to produce biosourced synthetic elastomers. “It may take the same amount of time” to make all of the other materials that comprise automobile tires, Gettys said. |
Company behind Oyster working on facial recognition ticket system | US firm Cubic Transportation Systems is working on a ticketing system that uses palm vein identification and facial recognition technology to improve the flow in public transport hubs. Cubic, the company behind London's Oyster card, said the prototype registers passengers' palms or faces in place of issuing a ticket. They would be re-scanned on exiting and checked against the system's registry. It could also be used to spot fare-dodgers, with non-paying people triggering an alert. While it aims to test the gate-less tracking system at a London station within the year, Cubic admitted the facial recognition technology wasn't yet ready. | http://www.wired.co.uk/article/train-station-face-recognition-gateless-gate-technology | 2017-09-25 00:06:50.030000 | Oli Scarff/Getty Images
At the train station of the future, your face could be your ticket and gates could be invisible.
Cubic Transportation Systems, the US company behind London’s Oyster card technology, is working on new ticketing systems that use facial recognition, palm vein scanning and object tracking in a bid to cut down queues.
“The ridership on public transportation is due to grow,” says Dave Roat, strategy manager at Cubic. “How do we deal with the growth in capacity and help enable passenger flow through stations?”
Read more: London Tube platforms are being painted green to cut congestion
One of the problems Cubic is trying to solve is the bottleneck that occurs at ticket gates when everyone rushes to dig out their ticket or pass. To avoid this crush, Cubic suggests removing the gates completely. Instead, its prototype system uses an object tracking system to track passengers as they walk through.
The company has demonstrated a prototype of its “FasTrak” gateless gate system at its London-based innovation centre. Here’s how it works. First, the traveller presents their ticket at a next-generation validator. As with existing machines, this validator accepts Oyster cards and contactless cards, but it also works with some alternative payment methods: Bluetooth LTE (which could identify passengers by their phone as they pass through, without them needing to hold it on the scanner), palm vein scan and facial recognition. |
Scotland’s climate change plan criticised by official body | Scotland’s draft plan on climate change has been criticised by the UK Committee on Climate Change (CCC). The body claimed that the plan placed too much emphasis on the quick implementation of reduced-carbon heating, and disregarded broader topics, including vehicular emissions. However, the CCC also remarked that the Scottish government was leading the UK in emissions reductions. Scotland achieved its 2015 emissions target, and looks set to hit the interim goal of a 42% reduction by 2020. In January, Scotland set an additional target of reducing emissions by 66% by 2032.
| https://www.theccc.org.uk/2017/09/25/scotland-needs-take-action-meet-ambitious-climate-change-plans/ | 2017-09-24 22:00:00 | Scotland’s plan to reduce its greenhouse gas emissions into the 2030s will need to bring forward firmer policies in transport, heating and other sectors if it is to remain world-leading, the Committee on Climate Change says in its latest publication: Reducing emissions in Scotland – 2017 progress report
To date, Scotland has made good progress in reducing its emissions and is performing well compared to other parts of the UK. Scotland’s emissions fell 3% between 2014 and 2015 to 38% below 1990 levels. This is compared to a reduction of 35% since 1990 for the UK as a whole in 2015.
The Scottish Government’s draft Climate Change Plan sets out policies and proposals to reduce emissions into the 2030s in order to meet Scotland’s legislated carbon targets. It also seeks to lay the foundations for deeper emissions cuts beyond 2030. The final plan, due in February 2018, will need to set out firmer policies to meet these targets.
Action taken now will also need to pave the way to meet Scotland’s higher ambition to reduce its emissions by 90% in 2050 on 1990 levels (previously set at a minimum reduction of 80%). This is a suitable contribution to global efforts to tackle climate change as required by the Paris Agreement.
The Committee’s report also finds that:
Scotland met its emissions target in 2015 . ‘Actual’ (physical) emissions, including international aviation and shipping, fell 3% between 2014-15. Progress was largely driven by action to reduce emissions in the electricity sector. Scotland also hit its ‘net’ emissions target, achieving a 41% emissions reduction on 1990 levels. An interim target of at least a 42% reduction in net emissions by 2020 is well within reach.
. ‘Actual’ (physical) emissions, including international aviation and shipping, fell 3% between 2014-15. Progress was largely driven by action to reduce emissions in the electricity sector. Scotland also hit its ‘net’ emissions target, achieving a 41% emissions reduction on 1990 levels. An interim target of at least a 42% reduction in net emissions by 2020 is well within reach. More effort is needed to reduce emissions from other sectors of the Scottish economy , alongside the good progress made in electricity. Emissions from agriculture, transport and non-residential buildings have not fallen in recent years. Scotland’s ambitious emissions targets will require broader, economy-wide progress in future years.
, alongside the good progress made in electricity. Emissions from agriculture, transport and non-residential buildings have not fallen in recent years. Scotland’s ambitious emissions targets will require broader, economy-wide progress in future years. The balance of effort in the draft Climate Change Plan between the transport and buildings sectors is unrealistic. However, the recent Programme for Government announcement indicates stronger action to reduce emissions from the transport sector. At this higher level, transport emissions would be commensurate with ambitious Scottish emissions targets. This could allow for less reliance to 2032 on the rapid deployment of low-carbon heating in buildings. While ambitious deployment of low-carbon heat is essential, it is unlikely to be feasible at the rate or level envisaged in the draft plan.
However, the recent Programme for Government announcement indicates stronger action to reduce emissions from the transport sector. At this higher level, transport emissions would be commensurate with ambitious Scottish emissions targets. This could allow for less reliance to 2032 on the rapid deployment of low-carbon heating in buildings. While ambitious deployment of low-carbon heat is essential, it is unlikely to be feasible at the rate or level envisaged in the draft plan. The draft Climate Change Plan contains limited new policy to deliver emissions reductions to 2032 beyond existing commitments. Without effective new policies, progress seen in recent years is unlikely to continue into the 2020s. The credibility of the proposed 90% emissions target for 2050 will be compromised if Scotland fails to lay the groundwork over the period to 2030.
Plans to further decarbonise the electricity sector are suitably ambitious and align with the Committee’s analysis. The draft plan’s commitment to the deployment of Carbon Capture and Storage (CCS) technology is also welcome as are plans to increase tree planting to 15,000 hectares per year by the mid-2020s.
Chairman of the Committee on Climate Change, Lord Deben, said: “Scotland’s level of ambition in reducing its greenhouse gas emissions and tackling climate change is amongst the highest in the world. Our report shows that Scotland continues to lead the UK in this area, as Scotland’s emissions continue to fall year on year.
“The Scottish Government’s Climate Change Plan will deliver the next chapter of emissions reductions into the 2030s and beyond. It’s therefore essential that further work is done to ramp up emissions reductions right across the Scottish economy and think through how to reduce emissions from heating Scotland’s buildings and from transport, amongst other areas. The process of review and revision should enable this to happen in time for the adoption of the final Climate Change Plan early next year.”
Notes to editors
Emissions data for Scotland and the devolved administrations in Wales and Northern Ireland are produced with a significant delay compared to the UK as a whole. The Committee’s report therefore focuses on progress to 2015, while noting any significant subsequent developments that are not yet reflected in the emissions data. The difference between ‘net’ and ‘actual’ greenhouse gas (GHG) emissions. Under the existing Climate Change Scotland (2009) Act, Scottish GHG emissions are measured on a ‘net’ basis. The Net Scottish Emissions Account (NSEA) is calculated as the sum of: a) Non-traded emissions. Actual Scottish emissions in sectors not covered by the EU Emissions Trading System (EU ETS), such as buildings, transport and agriculture (around 64% of total Scottish emissions); plus b) Traded sector allocation. Scotland’s share of the EU ETS cap for sectors that are covered by the trading scheme, such as electricity generation and heavy industry. Actual emissions are the physical greenhouse gas emissions emitted across all sectors including: Power, Buildings, Industry, Transport, Agriculture, Waste and F-gases, Aviation and Shipping, and Land Use, Land-Use change and Forestry (LULUCF). A detailed explanation is provided in the Committee’s March 2017 report: Advice on the new Scottish Climate Change Bill. The Scottish Government intends to pass new climate change legislation by early 2019, to replace the current Climate Change Scotland (2009) Act. In particular, the Scottish Government proposes to adopt a more ambitious target for emissions reductions by 2050 of at least 90% by 2050 (on 1990 levels), from an existing target of at least 80% by 2050 (on 1990 levels). The Committee provided advice on the design and levels of these targets in March 2017 in our report: Advice on the new Scottish Climate Change Bill. The Scottish Government’s draft Climate Change Plan was published in January 2017. It sets out policies and proposals for meeting Scotland’s legislated emissions reduction targets as required under the Climate Change Scotland (2009) Act. The Scottish Government is conducting a public consultation on the draft plan (until 22 September). Low-carbon heat: The draft Climate Change Plan’s assumed contribution to emissions reductions from uptake of low-carbon heat (80% of heating in buildings to be low-carbon by 2032) is very unlikely to be feasible and calls into question the integrity of the overall strategy, as well as risking missing emissions reduction targets in 2032. Securing lower levels of low-carbon heat roll-out (40%) in the CCC’s High Ambition Scenario requires immediate action, rather than waiting for deployment in 2025 as in the draft plan. The CCC recommends the final version of the plan relies on low-carbon sources providing no more than 50% of heat by 2032. These will need to be done in tune with further improvements in energy efficiency. Ambition on electric vehicles. The draft Climate Change Plan envisages ultra-low-emission vehicle (ULEV, e.g. electric vehicle) reaching 40% of new car and van sales by 2032, which would not prepare sufficiently to achieve the deep decarbonisation required by 2050 given the time it takes to turn over the vehicle stock. The recent Programme for Government announcement that petrol and diesel vehicle sales will be phased out by 2032 is a far stronger commitment, and is commensurate with the challenge set by Scotland’s ambition on climate change. The final version of the plan will need to set out the policies that will build the market for ULEVs over the next 15 years to the point that sales of petrol and diesel vehicles can be phased out.
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Addison Lee drivers not self-employed, rules UK tribunal | Addison Lee, the UK private car hire company, has lost a case in which it argued that its drivers were self-employed. The tribunal ruled that a group of drivers for the company were workers and were consequently entitled to rights including holiday pay and minimum wage. The drivers who brought the case were supported by the GMB trade union, which has backed similar claims by drivers for Uber. The ruling will apply to thousands of drivers working for the firm. A further hearing will determine the amount of holiday and pay to be awarded.
| http://www.personneltoday.com/hr/addison-lee-drivers-workers-tribunal-rules/ | 2017-09-24 19:00:00 | An employment tribunal has ruled that a group of Addison Lee drivers were workers and therefore entitled to rights such as holiday pay and the national minimum wage.
The ruling will affect thousands of drivers working for the taxi and courier company, according to the law firm representing them, Leigh Day.
The drivers brought their case to the London Central Employment Tribunal in July, supported by trade union GMB, which has supported similar claims by drivers for taxi firm Uber.
Addison Lee claimed that all of its UK drivers are self-employed, so can choose their own hours but cannot have access to traditional employment benefits that those with “worker” or “employee” employment status would receive.
GMB, however, argued that the company was “shirking its responsibilities through bogus self-employment”.
Liana Wood of the employment team at Leigh Day said: “Addison Lee advertises itself as a premium driving service and seeks to ensure that its drivers meet the high standard required for that premium service.
“However, Addison Lee drivers very often work very long hours, in excess of 60 hours a week, in order to just earn enough to cover their basic living costs. Addison Lee has sought to deny its drivers the most basic workers’ rights, including to be paid the national minimum wage and to receive paid holiday.”
She added that the judgement acknowledged the “central contribution that Addison Lee’s drivers have made to the success of the company”.
There will now be a further tribunal hearing to calculate the holiday and pay that the drivers should receive.
An Addison Lee spokesman said: “We note the tribunal’s verdict, which we will carefully review. Addison Lee is disappointed with the ruling as we have always had, and are committed to maintaining, a flexible and fair relationship which generates work for 3,800 drivers.” |
UK antislavery agency sees caseload double | The UK’s Gangmasters and Labour Abuse Authority (GLAA) has launched 185 investigations since May, almost twice as many as for the whole of 2016, after its remit was expanded beyond the food and farming sectors. The body is now investigating treatment of workers in carwashes, cleaning, construction, textiles and warehouse operations. The GLAA can also examine non-payment of the national minimum wage and employment agency legislation violations and is considering a new licensing system for nail bars. The first case under the body’s new powers is expected to come to court next month. | https://www.theguardian.com/society/2017/sep/24/caseload-almost-doubles-antislavery-body-remit-widens | 2017-09-23 22:00:00 | The UK’s antislavery body has launched 185 investigations since May, nearly double its total for the whole of last year, after assuming powers that allow it to look beyond the food and farming sector.
The Gangmasters and Labour Abuse Authority (GLAA) is scrutinising the treatment of workers in carwashes, construction, textile manufacture, cleaning and warehouse operations. A number of prosecutions are already under way and the first case under its new remit is expected to come to court as early as next month.
Paul Broadbent, the chief executive of the GLAA – which changed its name from the Gangmasters Licensing Authority after extending its remit in May this year – said the group had taken on 50 more investigators, bringing the total to 125, in order to monitor more activities.
“We have got a bigger team to follow the labour exploitation trail wherever it takes us. We are determined to exploit the fact that we have got new powers to protect the good and tackle the bad,” said Broadbent, a former assistant chief constable of Nottinghamshire Police.
Last year, the antislavery body conducted 100 investigations. Its new powers enable the GLAA to look into cases of forced labour and human trafficking many of which would previously have been passed to the police.
Broadbent’s team can also look into non-payment of the national minimum wage and breaches of employment agencies legislation, which sets basic standards on pay, working hours and the right to a written contract.
The investigations under way, he said, were “evidence led” and based on tipoffs from exploited workers, unions, concerned members of the public and businesses.
The agency, which was created in the wake of the Morecambe Bay cockle-picking tragedy, works with HMRC’s minimum wage enforcement team and the Employment Agency Standards Inspectorate as well as police.
It has powers to ensure that licence-holding gangmasters operate legally in terms of wages, tax and holiday pay as well as providing good-quality transport, accommodation and safety equipment. It also investigates cases of unlicensed labour in the food sector, which is a criminal offence carrying a prison sentence of up to 10 years.
The body is also considering a new licensing system for nail bars, after an investigation by the independent anti-slavery commissioner, Kevin Hyland, found a high risk of trafficked Vietnamese migrants being employed in slavery-like conditions. |
Just 3% of UK’s major elite is from BAME background | Just 3.4% of the UK’s most powerful and influential people are from black and minority ethnic (BAME) groups, according to a study by The Guardian in collaboration with academics and Operation Black Vote. The research analysed over 1,000 of the country’s leading figures from the cultural, financial, judicial, political and security sectors. Just 36 individuals were from BAME backgrounds and just seven, or 0.7%, were BAME women. Leading consultancies and law firms, the military, the police, and the supreme court and security services, had no non-white key leaders. Nearly 13% of the UK’s population has a minority background. | https://www.theguardian.com/inequality/2017/sep/24/revealed-britains-most-powerful-elite-is-97-white | 2017-09-23 22:00:00 | Barely 3% of Britain’s most powerful and influential people are from black and minority ethnic groups, according to a broad new analysis that highlights startling inequality despite decades of legislation to address discrimination.
From a list of just over 1,000 of the UK’s top political, financial, judicial, cultural and security figures drawn up by the Guardian in partnership with Operation Black Vote and in consultation with academics, only 36 (3.4%) were from ethnic minorities (BAME). Just seven (0.7%) were BAME women.
The numbers betray a grotesque disconnect with the composition of the UK population, almost 13% of which has a minority background. In some sectors – the police, military, supreme court and security services as well as top consultancies and law firms – there were no non-white supremos at all.
Equality advocates said the new study shone a light on the glass ceilings, subtle discrimination and “affinity bias” that minorities face as a matter of course in their careers. The toll is severe, on individuals, communities, and society as a whole, they said.
“We need to ensure that every young person has a role model they can look up to,” said the London mayor, Sadiq Khan, one of the 36. “It’s so important to promote the successful figures from Britain’s BAME communities. We need to create a sense of optimism, aspiration and hope.”
Speaking at a Guardian Live event at the Labour party conference in Brighton on Sunday, Khan also identified confidence as a key factor in holding BAME people back. “Some white people feel confident about applying for jobs even if they are not fully qualified. But BAME people may not have the same confidence even though they are more qualified,” he said.
The data analysis looked at the ethnicity of more than 1,000 individuals across 39 categories covering politics and the civil service; policing, defence and the judiciary; FTSE companies and groups representing business; professional services including the heads of law, accountancy, advertising, consulting and publishing firms; arts bodies; media; trade unions; top universities; sporting bodies and NHS trusts.
The results of the exercise call into question the effectiveness of equality legislation such as the 2000 Race Relations Act and the 2010 Equality Act, which have seemingly done little to promote people of minority backgrounds into the highest positions of power.
“Pathways to power are almost non-existent if you’re black or Asian,” said Simon Woolley, director and co-founder of Operation Black Vote, which helped compile the Colour of Power data along with the recruitment consultant Green Park.
“The white club virtually locks out black talent. The lack of diversity at the top level is deeply troubling, not least because in most sectors there has been little or no progress at all.”
Rebecca Hilsenrath, chief executive of the Equality and Human Rights Commission, said the research showed that “inequality and unfairness are still entrenched in our society”.
“Without real diversity in leadership positions we will never be truly reflective of society, particularly when it comes to public services and bodies which serve our communities. There is absolutely no reason that BAME people should not be able to reach the top of their chosen profession,” she said, calling on the government to put in place a comprehensive and coherent race strategy.
The shadow equalities minister, Dawn Butler, said black people were losing out because contacts and networks trumped talent. “If people do not fulfil their potential in all walks of society then we all lose out: the country loses out, that person loses out, that business loses out.
“As a black woman nothing surprises me when it comes to representation of both people of colour and women … It’s really not because of lack of talent. That’s the disappointing thing.”
02:25 The colour of power: why is the British establishment so white? – video
The latest data amplifies a report published earlier this year by the businesswoman Ruby McGregor-Smith, which found that while 14% of the working age population were from a BAME background, they made up only 10% of the workforce and held only 6% of top management positions.
There has been some progress further down the ranks since the 2000 Race Relations Act which, among other things, placed a duty on public bodies to promote racial equality.
BAME representation in the civil service now stands at 11.6%, double the 2000 figure. And 7% of court judges in England and Wales are from minorities, a significant improvement on 2000. The proportion of BAME police officers rose from 2.2% in 2000 to 6.3% in 2017 although diversity among the most senior ranks remains low.
There have also been some advances in politics: 8% of MPs after the 2017 general election are of minority ethnic backgrounds, the highest ever proportion, while the current cabinet has two BAME members compared to the all-white 2001 cabinet under Tony Blair.
But despite this progress, various reports have concluded that inequality remains deep-rooted in society. A recent TUC survey found that more than a third of BAME workers reported bullying, abuse or experience of racial discrimination in the workplace while the recently published Lammy review warned of racial bias in the criminal justice system in England and Wales.
A University of Bath project reported problems of ethnic diversity in higher education while a 2016 report by the Equality and Human Rights Commission found that “entrenched and far-reaching race inequality” remains present in many areas of society.
03:42 London mayor Sadiq Khan explains the importance of laws to improve diversity – video
Dr David Owen of the Warwick Institute for Employment Research in Warwick University, whose research has looked at the changing ethnic makeup of the population and the labour force, said evidence showed workplace barriers were manifold.
“The evidence from analysis of data over many years is that minority ethnic groups are less well represented in higher status occupations than white people,” he said.
He said the issue of diversity at the highest levels mattered for a number of reasons, most importantly that people of BAME backgrounds should feel they are able to fulfil their potential without “glass ceilings or other barriers to their ambition”. He added that it was also an advantage to organisations to best “understand the population and the society they are serving”.
While the project concentrated on BAME diversity, it also showed up a startling gap in gender representation. Women account for less than a quarter of the names on the list (23.6%). Among FTSE 100 chief executives, there are more men called David than women.
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Australia plans 'last line of defence' against blackouts | The Australian Energy Market Commission has published regulations aimed at protecting the grid from blackouts caused by its increasing reliance on renewably energy sources. Its chairman, John Pierce, said the rules, described as the 'last line of defence', will reduce risk arising from the growing proportion of power that derives from renewable sources, such as wind and solar. The commission wants the new rules to provide the greatest stability of supply at the least cost to consumers, given renewables’ increasingly lower pricing. Electricity networks will be required to meet minimum inertia levels and make sure they can deal with periods when demand exceeds supply.
| http://www.smh.com.au/business/energy/new-renewables-energy-rules-package-launched-to-halt-blackouts-20170919-gykwgc.html | 2017-09-23 13:23:34.873000 | The Australian Energy Market Commission (AEMC) has released what it calls a "last line of defence" against blackouts - a package of new rules that incorporate renewable energy sources.
The energy market regulator's chairman, John Pierce, said the latest rules were designed to address "risks to energy security created by the power system's changing generation mix" with its rising proportion of renewable energy such as wind and solar power.
The Australian Energy Market Operator (AEMO), which runs the nation's largest gas and electricity markets, is forecasting more than 19,000 MW of proposed new energy capacity for the coming years, with nearly two-thirds of that coming from wind power as costs of renewable technologies are falling.
"As the power system continues to evolve", the new rules "require networks to provide a minimum level of system strength to help keep the system stable," the AEMC's Mr Pierce said. |
Statoil reaches 2020 carbon emissions reduction target early | Oil firm Statoil claims to have slashed carbon dioxide emissions from the Norwegian continental shelf by 1.2 million tonnes per year since 2008, equivalent to removing 25% of Norway’s privately-owned cars. Statoil has put 228 discrete energy improvement measures into place, with the aim of reducing emissions even further. “The results show that it is possible to achieve ambitious emission reduction targets", said Arne Sigve Nylund, Statoil’s executive vice president of development and production.
| https://www.energyvoice.com/norway/151253/statoil-hits-norwegian-emissions-target-two-years-early/ | 2017-09-23 11:43:31.760000 | An error occurred. Please try again.
Statoil said today that it had reached its 2020 carbon emissions reduction target already.
The Norwegian oil major said it had cut CO2 output on the Norwegian continental shelf by 1.2million tonnes a year between now and 2008.
Statoil said the same effect would be achieved by removing a quarter of private cars from Norway’s roads.
The business said it had implemented 228 energy improvement measures within the categories of flaring, production processes, gas compressors and gas turbines.
It intends to reduce its Norwegian CO2 emissions by another 2million tonnes by 2030.
Arne Sigve Nylund, Statoil’s executive vice president, development and production Norway, said: “It is essential that we take strong and effective actions to meet the challenges associated with man-made climate change and to realize the important goals set in the Paris Agreement.
“Targeted efforts are therefore under way throughout our business.
“The results show that it is possible to achieve ambitious emission reduction targets.
“Skills, technology and hard work over-time pay off, and confirm that the transformation we need must be achieved in cooperation with, not in opposition to the petroleum industry.” |
Male backlash against gender diversity in tech | Women working in Silicon Valley are facing a blacklash following a series of scandals involving sexual discrimination and harassment. Men’s rights activists claim that numbers at their meetings in the sector are rising, with many identifying as “contrarians” to signal their opposition to “diversity dogma”. Those holding such views have been galvanised by the case of James Damore, an engineer fired by Google after he wrote a memo arguing that women were biologically less capable of engineering than men. Last year, two male employees of Yahoo sued the firm for gender discrimination.
| https://www.nytimes.com/2017/09/23/technology/silicon-valley-men-backlash-gender-scandals.html?_r=0&utm_source=MIT+Technology+Review&utm_campaign=68630084d4-The_Download&utm_medium=email&utm_term=0_997ed6f472-68630084d4-154403165 | 2017-09-22 22:00:00 | “It’s exhausting,” said Joelle Emerson, who runs Paradigm, a company that designs diversity strategies. “It’s created divides that I didn’t anticipate.”
One radical fringe that is growing is Mgtow, which stands for Men Going Their Own Way and pronounced MIG-tow. Mgtow aims for total male separatism, including forgoing children, avoiding marriage and limiting involvement with women. Its message boards are brimming with activity from Silicon Valley, Mr. Altizer said.
Cassie Jaye, who lives in Marin County and made a documentary about the men’s rights movement called “The Red Pill,” said that the tech world and the men’s rights community had “snowballed” together and that the rise in the number of people in Mgtow is new.
On the Mgtow message boards, members discuss work (“Ever work for a woman? Roll up your sleeves and share your horror story”), technology (“The stuff girlfriends and wives can’t stand — computers, games, consoles”) and dating (mostly best practices to avoid commitment).
“I think there are a lot of guys living this lifestyle without naming it, and then they find Mgtow,” said Ms. Jaye, who calls herself a former feminist.
Mr. Altizer leads Bay Area Fathers’ Rights, a monthly support group for men to talk about the issues they uniquely face. He became interested in the community after a divorce and said his eyes were opened to how few rights men have. As for the numbers of women in tech, the effort for parity is absurd, he said.
“I’ve been on the hiring side for years,” Mr. Altizer said, adding that he is not currently hiring people. “It would be nice to have women, but you cannot find applicants.” |
Enel hosts celebration for South African solar plant | Italian renewable energy firm Enel Green Power has held a dedication ceremony at its Tom Burke solar plant in South Africa, marking the site's designation as a National Key Point in the summer. The 66 MW facility will feed 122 GWh a year into the national grid and powers nine villages in the country's Lephalale region. Enel now has a total of 520 MW of wind and solar projects in operation in South Africa across seven sites. | http://www.engineeringnews.co.za/article/enel-celebrates-its-tom-burke-solar-plant-2017-09-21 | 2017-09-22 14:12:04.707000 | Some three years after expanding operations into South Africa, Italian renewable energy firm Enel Green Power (EGP) has established a significant presence locally, boasting more than 520 MW of wind and solar projects in operation, one of which was declared a National Key Point in June.
The 66 MW Tom Burke photovoltaic power (PV) plant, in Limpopo, where Enel hosted a dedication ceremony on Wednesday for one of its first large-scale solar projects, feeds 122 GWh/y into the national grid and is supplying electricity to nine villages in the Lephalale region.
“By harnessing renewable energy sources, we can improve electrification in Southern Africa and incorporate current and available technologies to bridge the gap between supply and demand for energy in a sustainable way,” said Enel country manager William Price on Wednesday.
This followed the early generation and commissioning of the plant on a 202 ha property in August 2016, adding “significant” value to the region and country, after being built by more than 400 construction workers in less than two years – a record for the company.
At its peak, Enel constructed some 1 MW a day on the project.
By June this year, Tom Burke became the first Enel South Africa facility to be declared a National Key Point by the South African Police Service and now produces an average energy output of 350 MWh/d to 360 MWh/d.
Speaking to media prior to the event, Price said Tom Burke became the setting for the company’s first use of thin-film solar technology in a large-scale project and set the precedent for Enel’s future endeavours.
Enel had first used the thin-film technology at its 10 MW Upington solar plant before pursuing its deployment in larger projects.
Tom Burke had also set the standard for the company, with its well-executed progression, best practices and approaches now being emulated at many more of Enel’s projects moving forward.
Meanwhile, Enel was working to implement several community initiative projects to leave behind a sustainable positive mark on the communities hosting the plant.
“We do not just produce energy, we change communities,” Enel sustainability head Lizeka Dlepu told delegates at the dedication ceremony.
She highlighted the company’s dedicated steering committee that was strategising with the local communities to identify shared value that addresses and aligns local social needs with the company’s business objectives.
Tom Burke has a 20-year power supply agreement with State-owned power utility Eskom, as part of the Renewable Energy Independent Power Producer Procurement Programme.
EGP owns and operates five PV plants in South Africa, namely Tom Burke; the 82.5 MW Paleisheuwel project, in the Western Cape; the 10 MW Upington and 82.5 MW Adams projects, in the Northern Cape; and Pulida, an 82.5 MW plant in the Free State.
The company also operates the 88 MW Nojoli and the 111 MW Gibson Bay wind farms, in the Eastern Cape. |
Enel begins two largest solar project operations in Brazil | Italian renewable firm Enel has begun operating 546 MW of solar power projects in Brazil, following a $700m investment in the country. Developed through its local subsidiary Enel Green Power Brasil, the PV projects are the largest in Brazil to date, and comprise the 245 MW Ituverava plant in the state of Bahia and the 292 MW Nova Olinda plant in Ribeira do Piauí. The new developments bring Enel's total PV capacity in Brazil to 716 MW, and the company is currently building a 754 MW solar plant in Mexico, which will be the largest PV project in the Americas. | https://www.pv-tech.org/news/enel-starts-operations-at-brazils-two-largest-solar-projects | 2017-09-22 14:05:10.423000 | Enel subsidiary Enel Green Power Brasil Participações (EGPB) has started operations for 546MW of solar PV projects in Brazil.
This includes the 254MW Ituverava plant, located in the municipality of Tabocas do Brejo Velho, in the north-eastern state of Bahia, as well as the 292MW Nova Olinda solar plant, located in the municipality of Ribeira do Piauí, in the north-eastern state of Piauí. Both are the largest PV projects in the country to date.
Enel invested roughly US$700 million in the construction of both plants mainly through its own capital. This was also supported by long-term financing provided by Banco do Nordeste for Nova Olinda. Meanwhile, Ituverava was supported by long-term financing provided by Bank of China and Santander, backed by China Export & Credit Insurance Corporation (Sinosure) and guaranteed by Enel.
The 292MW Nova Olinda contains 930,000 solar modules across 690 hectares and will be able to produce more than 600GWh per year once fully operational, enough to power the equivalent of 300,000 Brazilian households.
The 254MW Ituverava plant includes 850,000 panels over 579 hectares and once fully up and running will be able to produce over 550GWh, for the equivalent of 268,000 Brazilian households.
Both the solar parks have 20-year power purchase agreements (PPA) with the Brazilian Chamber of Commercialisation of Electric Energy (Câmara de Comercialização da Energia Elétrica, CCEE).
EGPB has also introduced so-called creative recycling workshops in the nearby areas for local communities to learn to manufacture furniture from materials used in the solar construction works, such as pallets. The firm is providing similar workshops for a 754MW development in Mexico, set to be the largest PV project in the Americas.
Enel now has 716MW of solar PV installed in Brazil.
Antonio Cammisecra, head of Enel Green Power: “The start of operation of Nova Olinda and Ituverava is a major milestone for our presence in Brazil since it confirms our leadership in the country’s photovoltaic market, as well as our commitment and ability to quickly and efficiently deliver the projects we are awarded. With our projects and expertise, we can boost the development of Brazil’s photovoltaic sector with the aim of further strengthening the increasingly key role that solar power is playing in the diversification of the country’s generation mix and in meeting its growing energy needs”. |
Pesticide safety assumptions false, claims scientist | Global assumptions about safe pesticide use are incorrect, according to a chief scientific adviser to the UK government. An article by Professor Ian Boyd and Alice Milner argues that the lack of limits on total pesticide use, and the absence of monitoring of their environmental effects, means that the impacts of such use can take years to emerge. Boyd claims that the central assumption that chemicals that pass laboratory or field tests “are environmentally benign when they are used at industrial scales – is false”. The authors calls for the introduction of “a global monitoring programme for pesticides, similar to pharmaceuticals”. | https://www.theguardian.com/environment/2017/sep/21/assumed-safety-of-widespread-pesticide-use-is-false-says-top-government-scientist | 2017-09-22 12:17:45.400000 | The assumption by regulators around the world that it is safe to use pesticides at industrial scales across landscapes is false, according to a chief scientific adviser to the UK government.
The lack of any limit on the total amount of pesticides used and the virtual absence of monitoring of their effects in the environment means it can take years for the impacts to become apparent, say Prof Ian Boyd and his colleague Alice Milner in a new article.
The damning assessment of pesticide regulations that are meant to protect the global environment follows a growing number of highly critical reports including research showing farmers could slash their pesticide use without losses and a UN report that denounced the “myth” that pesticides are necessary to feed the world.
“The current assumption underlying pesticide regulation – that chemicals that pass a battery of tests in the laboratory or in field trials are environmentally benign when they are used at industrial scales – is false,” state the scientists in their article published in the journal Science. Boyd is chief scientific adviser to the UK’s Department of Environment, Food and Rural Affairs, where Milner also works on secondment, but their criticism reflects their own views.
“The effects of dosing whole landscapes with chemicals have been largely ignored by regulatory systems,” the scientists said. “This can and should be changed.” They contrast this situation with pharmaceuticals, for which there is a system of rigorous global monitoring after a drug is approved in case adverse effects emerge.
“Vigilance on the scale that is required for medicines does not exist to assess the effects of pesticides in the environment,” they said. They cite the UK as an example of one of the most developed regulatory systems: “Yet it has no systematic monitoring of pesticide residues in the environment. There is no consideration of safe pesticide limits at landscape scales.”
The scientists’ article also criticises the widespread use of pesticides as preventive treatments, rather than being used sparingly and only when needed.
Milner told the Guardian: “We want to start a discussion about how we can introduce a global monitoring programme for pesticides, similar to pharmaceuticals. It can take years to fully understand the environmental impact.”
“Any chemical you put into the environment has the potential to be widely distributed,” she said. “We’ve known this for decades, particularly through the early work in the 1960s – the Silent Spring, DDT and so on – and you can find chemicals in places that have not been treated because of the connectivity of ecosystems. There are often quite unexpected effects [and] you often don’t see them until the pesticide is used at more industrial scales.”
Matt Shardlow of the conservation group Buglife said: “Pesticides have got big on society – the thin veil of science around the approvals process has been exposed and the marketing strategies are stronger than the products they tout.
“If you think the biggest governments in the world are wrapped around the pesticide industry’s fingers, that’s nothing compared to the 35% of countries that have no regulation at all. It looks as if only an international convention can get pesticides back into a box that helps rather than harms us. It can’t come soon enough.”
The UK government has repeatedly opposed increased European restrictions on widely used insecticides that are linked to serious harm in bees, but a partial ban was backed by other nations and introduced in 2013.
However, the environment secretary, Michael Gove, said in July that changes to pesticide regulation were being considered: “Certainly, it is the case that anyone who has seen the [recent] scientific evidence must inevitably contemplate the need for further restrictions on their use.” After Brexit, he said: “Informed by rigorous scientific analysis, we can develop global gold-standard policies on pesticides and chemicals.”
Keith Tyrell, at Pesticide Action Network, said the current pesticide management system was not fit for purpose: “We don’t know how a pesticide will really impact the environment until it is too late. It can take years before enough scientific evidence is collected to persuade regulators to take action, and they will be fought every step of the way by pesticide manufacturers who make millions from these products.”
The UN report in March was severely critical of the global corporations that manufacture pesticides, accusing them of the “systematic denial of harms”, “aggressive, unethical marketing tactics” and heavy lobbying of governments which has “obstructed reforms and paralysed global pesticide restrictions”.
Sarah Mukherjee, chief executive of an industry group called the Crop Protection Association, said: “As [Boyd and Milner] themselves acknowledge, crop-protection products are a fundamental component of a sustainable, productive agricultural sector which seek to strike the right balance between protecting the environment and providing a reliable supply of safe, healthy, affordable food.
“Pesticides are amongst the most heavily regulated products in the world. It takes up to 12 years and costs over £200m to bring a new product to market. This process, involving rigorous scrutiny by independent scientific experts, ensures plant protection products are safe before they reach the market.” |
Start-ups to receive investment by MIT incubator unveiled | The seven start-ups set to benefit from The Engine, the incubator founded by the Massachusetts Institute of Technology, have been announced. They include Analytical Space, which is developing systems providing no-delay, high-speed data from space, Baseload Renewables, which is working on ultra-low-cost energy storage, C2Sense, a company creating an olfactory sensor to transform smell into real-time data, and Via Separations, which is developing a materials technology for industrial separation processes. Each of the firms will receive financial support and access to costly resources.
| http://news.mit.edu/2017/the-engine-announces-investments-first-group-startups-0919 | 2017-09-22 12:09:05.687000 | The Engine, founded last year by MIT, today announced investments in its first group of seven startups that are developing innovations poised for transformative impact on aerospace, renewable energy, synthetic biology, medicine, and other sectors.
The founding startups will be featured today at an event to celebrate the official opening of The Engine’s headquarters at 501 Massachusetts Ave. in Cambridge, Massachusetts, now renovated to include three floors of conference rooms, makerspaces, labs with cutting-edge equipment, computer stations, and other amenities.
The seven startups are:
Analytical Space, developing systems that provide no-delay, high-speed data from space, to address global challenges such as precision agriculture, climate monitoring, and city planning;
Baseload Renewables, developing ultra low-cost energy storage to replace fossil baseload generation with renewable energy to successfully reduce carbon on a global level;
C2Sense, building a digital olfactory sensor for industrial use cases such as food, agriculture, and worker safety, and transforming smell into real-time data that can be accessed remotely;
iSee, delivering the next generation of humanistic artificial intelligence technology for human and robotic collaborations, including autonomous vehicles;
Kytopen, accelerating the development of genetically engineered cells by developing technology that modifies microorganisms 10,000 times faster than current state-of-the-art methods;
Suono Bio, enabling ultrasonic targeted delivery of therapeutics and macromolecules across tissues without the need for reformulation or encapsulation; and
Via Separations, developing a materials technology for industrial separation processes that uses 10 times less energy than traditional methods.
Announced last October, The Engine combines funding and an open network of technical facilities to provide stable financial support and access to costly resources. It focuses on startups developing “tough” technologies — breakthrough ideas that require time to commercialize — in a range of sectors including robotics, manufacturing and materials, health, biotechnology, and energy.
“As we look at the first seven companies we have invested in, it is wonderful to see the breadth of tough-tech areas founders have leaned into,” says Katie Rae, president and CEO of The Engine. “We have been so gratified by the quality and passion of the founders that have come to us. These entrepreneurs are on a mission, and with our help they are going to change the world for the better.”
In January, MIT announced the creation of The Engine Working Groups, charged with guiding the development of Institute policies and procedures related to The Engine, and an Idea Bank for MIT community members and alumni to provide input. In February, the program secured funding and established its leadership, and in April it closed its first investment fund with more than $150 million to support the startups. Since then, additional funds have been raised, for an updated total of $200 million.
“We announced The Engine nearly a year ago with the vision of supporting innovative ventures working to address society's most important challenges,” MIT President L. Rafael Reif says. “I am thrilled that the first cohort of startups has the potential to do exactly that. I have watched The Engine's evolution with great enthusiasm and admiration, and I look forward to this exciting next step in making The Engine's bold vision a reality.”
A running start
The startups have already begun benefiting from The Engine.
Shreya Dave PhD ’16 and Brent Keller PhD ’16, co-founders of Via Separations, have drawn on the tight-knit community growing inside The Engine, where advice and feedback are just around the corner. Joined by MIT professor of materials science and engineering Jeffrey Grossman and industry expert Karen Golmer, the team has been at The Engine since July. “Instead of sending out a million emails and asking for advice, we can literally walk next door and ask advice on company or customer problems,” Dave says.
Membranes today are predominantly polymers that filter out particles from liquids; examples include removing salt during water desalination or sifting out ingredients for pharmaceuticals or foods. These membranes are low-cost and efficient, but cannot withstand high temperatures, intense cleaning, and harsh environments, so some industries turn to power-hungry thermal-separation processes. Via Separations’ graphene oxide membranes, however, are more resilient than polymers and can operate in the streams polymers cannot. According to the startup, its membrane can replace thermal separation in many industries, cutting energy use by 90 percent. The startup now has a working prototype and is in talks with potential customers.
The Engine’s patient capital has been a major help for the startup, which emerged from a project in the J-WAFS Solutions program, a commercialization grant of the Abdul Latif Jameel World Water and Food Security Lab administered in partnership with the MIT Deshpande Center for Technological Innovation. “Our development timeline will take a few years, with key milestones in design scale up, manufacturing, and customer agreements. But when we do it, it is going to have huge impact. With the Engine’s community and support, we have the resources to support a stellar team,” Dave says.
Also appreciative of The Engine’s patient capital is MIT professor of mechanical engineering Cullen Buie, another first-time entrepreneur who co-founded the two-month-old Kytopen. “The Engine is betting on us. I don’t know how many venture capitalists would bet on where we are today,” Buie says. “We could have stayed in the lab a little longer, but it wouldn’t get going nearly as fast. The Engine is helping us throw some gas on the idea and accelerate what we’re doing.”
Kytopen is developing a platform to enable extremely high-throughput cell engineering. To genetically engineer organisms, scientists expose cells to an electric field, which opens pores within the cell membrane, allowing customized DNA to flow into the cell. But scientists must zap the cells one batch at a time to find the right electric field that can open the cells but not kill them, which can be a months-long process.
Buie and his Kytopen co-founder, MIT research scientist Paulo Garcia, developed a microfluidics device that shocks cells continuously. Then they integrated the device’s components into a pipette tip, meaning scores of cells can be zapped as the flow through. In one pipette channel, the startup can process the equivalent of 80 tests per minute. Systems already exist that process 96 and 384 pipette samples in parallel, which makes the process potentially 10,000 times faster than traditional methods. “We take the guts of microfluidics and put it in a pipette tip which … makes it amenable to automation and scaling,” Buie says.
Power of proximity
The Engine’s central location is also beneficial for startups such as Baseload Renewables, whose founders and employees are transitioning into the startup life from MIT and other jobs. “We’re four co-founders of this company, and two of us live within walking distance of The Engine,” says MIT professor of materials science and engineering Yet-Ming Chiang. “It makes it easy for us to meet, get early research started, and have a smooth transition from lab to commercial product.”
Baseload Renewable’s battery system is based on cheap, readily available, and energy-dense sulfur dissolved in water as the anode, with an equally low-cost cathode.
Because the components are low-cost and allow for great energy-density, the system can store electricity from renewable sources for long durations — multiple days to months — for about a fifth to a tenth the cost of traditional battery storage for the grid. Today’s traditional lithium-ion batteries cost more than $300 per kilowatt hour and may only drop to about $150 per kilowatt hour, Chiang says.
The aim is to use the system for baseload power — the minimum demand on an electrical grid over a span of time — which currently relies on systems that produce a lot of carbon emissions. “Anyone in the energy industry will recognize that turning renewable energy into baseload electricity available all day, every day, is an extremely ambitious goal,” Chiang says. “But The Engine is allowing us to get a running start at it.”
Fresher food, safer cars, better health
The other founding startups’ goals are similarly ambitious.
Analytical Space, founded by Harvard Business School graduates, aims to make downloading satellite data much faster. Every few hours, terabytes of data are collected by orbiting satellites, but downloading that data is becoming very costly and complex. The startup is building small satellite relays that use laser communication to enable continuous high-speed wireless connectivity between space and ground. The startup is now preparing to launch its first pilot on a SpaceX craft from the International Space Station later this year.
C2Sense, which emerged from work supported by the Deshpande Center, aims to bring gas sensing to the so-called internet of things by creating a “digital olfactory” platform for industrial use. The startup has developed low-cost sensors that detect and measure a range of chemical substances in food that indicate rot as well as toxic gases, to help ensure worker safety and environmental protection. In one of its first use cases, the startup’s sensing technologies could “smell” when apples were ripening by detecting tiny amounts of ethylene, a gas that promotes ripening in plants.
iSee AI is developing a missing piece of the self-driving car puzzle — the next-generation artificial intelligence (AI) driven by a common sense engine. To begin such a monumental task, the team is taking inspiration from computational cognitive science to develop a fundamentally different approach to achieve a fully autonomous driving system. By building and applying a common sense engine to this space, iSee is able to effectively model a variety of behaviors of different occurrences on the road and quickly deal with new situations.
Suono Bio’s drug delivery platform uses ultrasound waves to rapidly deliver drugs, proteins, vaccines, and other molecules directly into the gastrointestinal tract to treat inflammatory bowel disease and other disorders that are difficult to treat. When a fluid is exposed to ultrasound waves, tiny bubbles form that then implode to create microjets that penetrate and push the drugs into tissue. The drugs absorb about 22 times faster than the traditional treatment method using enemas, where drugs must be kept in the colon for eight to 12 hours. |
Iran seeks financial aid abroad for waste-to-energy projects | Iran is turning to European and Asian investors to help fund a series of waste-to-energy (WTE) plants, following an agreement signed in March with the Czech Republic for a 20 MW WTE plant. Iran recycles just 5% of the 56 million kilograms of waste generated every day, while only a single WTE plant is active in Tehran. The Iranian energy ministry has already allocated 19 sites for construction of WTE facilities and aims to generate up to 700 MW by 2021.
| https://en.trend.az/iran/business/2799431.html | 2017-09-22 12:07:40.700000 | Baku, Azerbaijan, Sept. 19
By Fatih Karimov– Trend:
Producing electricity from waste can be considered as an important option for the Islamic Republic, where over 20 million tons of waste is produced annually.
An Iranian citizen produces some 700 grams of trash every day, which is significantly over the global average of 300 grams. So 80 million Iranians produce over 56 million kilograms of waste every day, of that only 5 percent is recycled.
Reportedly, Iran has the capacity to generate more than 10,000 MW of electricity from biomass, with 25 cities capable of generating at least 400 MW of electricity from waste material.
That is why the Iranian administration has started to take steps to expand the waste-to-energy (WTE) plants in collaboration with international companies.
Last year Iran's energy ministry announced that will pay 4,000 rials (about 12 cents based on official rate of 33,515 rials per each USD) per each kilowatt hour of electricity produced at garbage incineration power plants.
Currently only one WTE plant is active in capital city of Tehran - a mega city home to 9 million people - with limited output capacity of 2.5 megawatts.
According to data by state-owned Renewable Energy and Energy Efficiency Organization (SATBA), two WTE plants are operational in Shiraz and Mashhad cities as well.
Earlier in March 2017, Iran signed a build–operate–transfer (BOT) contract with the Czech Republic for construction of a 20 MW waste to energy plant in Iran’s northern Gilan province. The plant will be capable of burning 350 tons of trash per day to generate power.
In a recent development, Abdolamir Bakhshizadeh, an official with the Mashhad Municipality announced that several investors from European and Asian countries including China, Japan, India, France, Germany and Austria have expressed readiness to implement WTE projects in Tehran.
Bakhshizadeh, who heads Municipality Waste Organization of the city with 3.5 million population, told IRNA Sept. 19 that 3500 billion rials is needed for construction of WTE plants based on Asian technology, meanwhile implementing the project based on European technology will cost 13,000 billion rials.
Establishing incinerator power plant projects in big cities which enable the Islamic Republic to produce electricity from garbage is among the priorities of the Iranian energy ministry and the ministry has allocated 19 locations for construction of this type of power plants.
WTE plants will be launched around cities with over 200 thousand people population both to help power production and prevent waste from polluting environment.
According to the Sixth National Development Plan (2016-2021), Iran is aiming at the production of 700 megawatts of electricity in the form of waste-to-energy power generation. |
GM buys 200 MW of wind energy in Ohio and Illinois | US car manufacturer General Motors (GM) will purchase 200 MW of wind energy from farms in Ohio and Illinois. By next year, 20% of GM's energy needs will be met by renewables, according to the company. The move is part of the firm's commitment, announced in 2016, to power 100% of its facilities around the world with green energy by 2050. By adopting a "pragmatic strategy, companies can turn ambitious renewable energy goals into action and scale quickly", said Rob Threlkeld, global manager of renewable energy at GM. | https://www.usatoday.com/story/money/cars/2017/09/22/gm-invests-wind-power-part-electric-vehicle-push/687335001/ | 2017-09-22 11:58:10.050000 | Eric Lawrence
Detroit Free Press
DETROIT -- General Motors is making a big investment in wind power.
The automaker has announced that it is purchasing 200 megawatts of wind energy from wind farms in Ohio and Illinois, and that once the turbines are online next year, 20% of the company's global electricity usage will be powered by renewables. The electricity generated will supply seven plants, including those that make the Chevrolet Cruze and Silverado and GMC Sierra light-duty pickups.
GM announced last year that it intends to source all electricity needs at its facilities worldwide with renewable energy by 2050.
Details about the cost for the wind power purchase were not released, but the company noted a connection to the push for zero-emission vehicles. Those include electric vehicles, such as the Chevrolet Bolt.
One of the criticisms of zero-emission vehicles as a cleaner transportation mode is that making the energy to power them still causes pollution, if not as much, just not through the tailpipe.
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"As GM works toward advancing zero-emissions vehicles, it makes business sense to create a cleaner grid on which to drive them. The company uses (electric vehicle) batteries in tandem with a solar array to power an office building at its Milford Proving Ground in Michigan and is researching the use of fuel cells as energy storage in the future," it said.
Rob Threlkeld, GM global manager of renewable energy, said that through a "pragmatic strategy, companies can turn ambitious renewable energy goals into action and scale quickly.”
Threlkeld said that the cost to produce wind power continues to drop, making it more feasible to use as a power source in areas closer to most of GM's manufacturing plants.
The company said its wind power purchases will be "enough to meet the electricity needs of Ft. Wayne Assembly, Marion Metal Center and Bedford Casting plants in Indiana and Lordstown Assembly, Defiance Casting Operations, Parma Metal Center and Toledo Transmission plants in Ohio."
Starwood Energy Group will provide half of the energy through its Northwest Ohio Wind farm in Van Wert and Paulding counties, and Swift Current Energy will provide the rest through its HillTopper Wind Project in Logan County, Ill., the release said.
GM says it made its first wind power purchase in 2014 for several Mexican facilities; uses solar power at 26 locations; and gets electricity from landfill gas at two assembly plants. The company says it saves about $5 million each year using renewable energy. |
Hawaiian Electric Industries buys 60 MW Honokaa power plant | Pacific Current, a new subsidiary of Hawaiian Electric Industries, has acquired the 60 MW Hamakua Energy Partners plant, based in Honokaa, from Boston private equity firm ArcLight, according to an ArcLight statement. The facility is capable of supplying up to 22% of Hawaii’s electricity. By 2045, 100% of power supplied in the state is legally required to come from renewable sources. Earlier this year, the Public Utilities Commission rejected a request to purchase Hamakua Energy by Hawaii Electric Light, a subsidiary of Hawaiian Electric Industries, citing “insufficient benefits to customers".
| http://hawaiitribune-herald.com/news/local-news/hei-subsidiary-buying-honokaa-power-plant | 2017-09-22 11:55:21.757000 | One of the “highest efficiency, lowest emission power plants in the state” is being sold to a new subsidiary of Hawaiian Electric Industries Inc.
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One of the “highest efficiency, lowest emission power plants in the state” is being sold to a new subsidiary of Hawaiian Electric Industries Inc.
The 60-megawatt Hamakua Energy Partners plant in Honokaa was sold to Pacific Current by Boston private equity firm ArcLight, according to a news release from ArcLight.
By 2045, 100 percent of power supplied in the state is required, by law, to come from renewable sources, such as wind, geothermal, water, bioenergy and solar. The state Legislature passed the law, signed by Gov. David Ige, in 2015.
“Hawaiian Electric Industries is firmly committed to meet the state’s goal of 100 percent renewable energy by 2045,” Greg Hazelton, executive vice president of HEI, Hawaii Electric Light Co.’s parent company, said via email. “The sale to a subsidiary of HEI will provide stable, local ownership of this critical power supply infrastructure, which can provide 22 percent of Hawaii Island’s generating capacity.”
Hamakua Energy Partners sells the power it produces to HELCO under a power purchase agreement, ArcLight said.
In March, the state Public Utilities Commission denied HELCO’s request to purchase Hamakua Energy because of “insufficient benefits to customers if the plant was directly owned by HELCO.”
But, “the plant is vital in providing a firm power source to ensure continued reliability for Hawaii Island customers while HELCO works to transition Hawaii to reach the state’s renewable energy goal,” Hazelton told the Tribune-Herald.
The PUC has broad authority, but HEI is betting the commission won’t intervene because HEI owns diverse entities beyond utilities, including American Savings Bank.
The ArcLight announcement of the plant’s sale says HELCO rates won’t change because the power purchase agreement, which remains in effect, doesn’t expire until 2030.
“Knowing the importance of this facility to Hawaii Island and the ability of our company to provide a strong financial foundation for its continued operation, we made the decision to acquire the plant, with the purchase price and risks of ownership borne solely by HEI shareholders, not customers of HELCO,” Hazelton said in the ArcLight release.
The plant has 15 workers who “will continue to be managed and operated by Consolidated Asset Management Services, which has managed the plant since 2010.”
“It has been a privilege serving the people of Hawaii Island and providing their energy needs over the past seven years,” said Daniel Revers, ArcLight’s managing partner and founder.
Email Jeff Hansel at [email protected]. |
South Australian steel plant to run on renewables and storage | UK-based company GFG Alliance has taken a majority stake in Adelaide firm Zen Energy, with the aim of transforming recent acquisition Whyalla Steelworks into a renewables business. As part of the deal, Zen will form a strategic alliance with its energy unit, SIMEC Energy, creating a new company called SIMEC Zen. GRG CEO Sanjeev Gupta aims to prove that a combination of wind, solar, pumped hydro, battery storage and co-generation, can power Australia's heavy industry without having to rely on fossil fuels. | http://reneweconomy.com.au/whyalla-steel-owners-buy-into-zen-solar-and-storage-company-71681/ | 2017-09-22 11:51:44.760000 | The new owners of the Whyalla Steelworks in South Australia have made good on their commitment to green energy, announcing the purchase of a majority stake in the Ross-Garnaut chaired Zen Energy, an Adelaide company specialising in solar and battery storage.
The deal was announced less than a month after UK billionaire Sanjeev Gupta’s GFG Alliance completed the acquisition of Whyalla, saying it was investment in renewable energy that would make the bankrupt steel-making operation viable again.
RenewEconomy understands that Zen had been in discussions with GFG in the lead-up to the purchase, mostly about the various renewable energy options for the new owner of Australia’s largest integrated steel and mining business, including wind, solar, co-generation and pumped hydro.
Those talks have now resulted in GFG taking a majority stake in Zen and building a strategic alliance led by SIMEC Energy, GFG’s energy unit. The new venture will be called SIMEC Zen.
The alliance has the potential to reshape the debate about renewable energy and its benefits for big business in Australia. Whyalla is not the first major industrial user to turn to renewables to reduce the cost of energy from Australia’s dysfunctional, fossil fuel-dominated grid, and it won’t be the last.
Asked on ABC Radio on Thursday morning if the partnership was based on a “belief” that renewables could power industry, Garnaut responded: “It is not a belief, it is the economic reality.”
(See our interview with Ross Garnaut and his plans for large-scale solar, pumped hydro and battery storage here).
Gupta said on Wednesday the high cost of energy is “debilitating for the economy and a crying shame for a country so rich in resources”, and a step change was needed in the power industry to reduce the cost of dispatchable power.
“Our main focus, as in the UK, will be renewable energy,” he said, adding that the company believed renewable energy would be the basis for a low-carbon industrial future
The commitment by one of the country’s biggest energy users – following the investment in solar by Queensland zinc refiner Sun Metals and telecoms giant Telstra – comes as federal politics attempts to do a u-turn and focus on ageing coal plants rather than new renewables.
Former prime minister Tony Abbott threatened to cross the floor of parliament to vote against the future and any policy that looked to address climate change, however modestly, or encourage new renewable energy.
“You can’t run a steel mill on renewables,” Abbott has said. Yes you can, says Gupta, and he intends to show how, using the combination of wind, solar, pumped hydro, battery storage and co-generation for most of its needs.
The announcement also comes days after Zen made a formal application to the Australian Energy Regulator for a licence to retail electricity to customers using solar and storage and demand management technologies.
Zen has made no secret of its plans to launch a renewable-based retailer, and to service the industrial sector, and it also has plans for large-scale solar plants and large-scale battery storage arrays, despite missing out on a South Australia government tender that was won by Tesla and French company Neoen.
“GFG Alliance has now taken a major step towards realising its Australian energy ambitions,” it said in a statement. “The opportunity to invest in large-scale power projects to meet its own industrial requirements and support the domestic economy was a key driver for GFG’s strategic entry into Australia.”
The venture will also focus on providing “cheaper, more reliable and environmentally sustainable energy” for SIMEC’s mining operations in South Australia and Liberty OneSteel’s operations in South Australia, Victoria, New South Wales, Queensland, and Western Australia. |
Engie to build 1 GW wind farm in India with Abu Dhabi's Abraaj | French utility company Engie is partnering with Dubai's Abraaj Group on a project to develop 1 GW of wind power in India. Abraaj has already built a similar level of solar capacity in the country in another partnership, and has bought a majority stake in the 50 MW Jhimpir Power wind project in Pakistan. India's government has launched a number of initiatives to create new opportunities for private investment in renewables, and the country is aiming at nearly doubling its wind power capacity to 60 GW by 2022. | http://www.livemint.com/Industry/v9pUkgAmH3DvwNWtq0t2kO/Frances-Engie-Dubais-Abraaj-to-set-up-wind-energy-platfor.html | 2017-09-22 11:43:20.793000 | New Delhi: French energy firm Engie SA and Dubai’s private equity firm Abraaj Group on Wednesday announced a partnership to build a wind power platform in India.
“Together, Abraaj and Engie have identified a robust pipeline of wind power projects representing over 1 GW (gigawatt) in several key states," the companies said in a joint statement.
Foreign investments are crucial for India’s renewable energy industry as the lower cost of foreign capital and the size of the market has helped bring down tariffs.
“Energy demand is growing tremendously in India, and Engie is investing in green energy sources as part of supporting the country with its sustainable development plans," said Sébastien Arbola, chief executive of Engie Middle East, South and Central Asia and Turkey in the note.
The National Democratic Alliance government has set an ambitious clean energy target of 175GW by 2022. Of this, 100GW is to be generated by solar projects and 60GW by wind projects.
Wednesday’s announcement comes in the backdrop of India’s wind sector transitioning from a feed-in tariff regime to tariff-based competitive auctions. While feed-in tariffs ensure a fixed price for wind power producers, wind power tariffs in India followed the solar route and hit a record low of Rs3.46 per kilowatt hour (kWh) in a February auction conducted by Solar Energy Corp. of India.
In such a scenario, obtaining finance at the lowest cost has become key to success, resulting in record low solar and wind energy tariffs.
“In line with our commitment to addressing the Sustainable Development Goals, our partnership with Engie marks Abraaj’s second investment in the clean energy sector in India," said Saad Zaman, partner at Abraaj Group, in the statement while adding, “wind power generation is approaching grid parity and offers a competitive solution to lower average power pool prices."
Prior to this joint venture, both Abraaj and Engie have had a presence in the Indian solar space. While the Abraaj Group with $11 billion under management announced a partnership with the Aditya Birla group in October 2015 to build a renewable energy platform focused on developing solar power plants, Engie with €66.6 billion in revenue has been trying to expand its presence in India’s clean energy space.
After selling its Meenakshi Energy coal-fired thermal plant in Andhra Pradesh last year to India Power Corp. Ltd, a Kanoria family trust entity, Engie (formerly GDF Suez SA) sought to exit all coal-fired projects. It has been actively eyeing the Indian clean energy space. It plans to set up a 2GW capacity by 2019 with its subsidiary Solairedirect actively bidding for solar power projects, and has a 810 megawatt (MW) portfolio.
Engie has been in talks with the country’s largest roof maker Everest Industries Ltd for a partnership for solar-ready roofs, Mint reported on 11 August. The largest independent electricity producer globally with 112.7GW capacity is also exploring the acquisition of projects from Singapore-based renewable energy developer Equis Energy’s India portfolio, which comprises green energy platforms Energon and Energon Soleq.
The group has been active in the Indian deal space. Abraaj’s investments in the country include a majority stake in Hyderabad-based hospital chain Quality Care India Ltd for an estimated Rs1,700 crore. Last year, Abraaj also led a $150 million funding round in online grocer BigBasket.
EY was the transaction advisor for the partnership. “The Indian wind sector today is at an inflection point," said Srishti Ahuja Taneja, director, transaction advisory services, EY. “As the underlying sector economics remain strong, this platform is well poised to add capacity on the ground and create value for both shareholders."
India’s green energy play is expected to grow substantively with federal policy think-tank Niti Aayog projecting a 597-710 GW capacity by 2040 in its draft energy policy. |
Hitachi data storage to smooth motor accident claims in the UK | A data storage system, made by a subsidiary of Hitachi, will be adopted by UK motor-accident management service Accident Exchange, easing the process of insurance claims and bringing the operation in line with data protection laws. Hitachi's Content Platform will enable Accident Exchange to deal with cases more quickly through better data management, according to Hitachi. It will also be compliant with the requirements of the European Union's General Data Protection Regulation.
| http://markets.businessinsider.com/news/stocks/Hitachi-Content-Platform-Enables-Accident-Exchange-To-Rapidly-Achieve-and-Maintain-GDPR-ComplianceHitachi-Content-Platform-Standardizes-Data-Creation-and-Curation-for-Motoring-Accident-Company-1002388675 | 2017-09-22 11:43:19.513000 | LAS VEGAS, Sept. 20, 2017 (GLOBE NEWSWIRE) -- Hitachi Vantara, a wholly owned subsidiary of Hitachi, Ltd. (TSE:6501), announced it is improving the data strategy of motoring accident management company Accident Exchange through the use of Hitachi Content Platform (HCP). The HCP data storage solution helps Accident Exchange to better manage and govern the data it produces, collects and retains in an effort to seamlessly adopt and comply with new industry regulations, such as the General Data Protection Regulation (GDPR).
Based in the United Kingdom, Accident Exchange is a subsidiary of the Automotive and Insurance Solutions (AIS) Group, established in 2004. The company hires replacement vehicles for customers involved in accidents, while it manages repairs to their damaged cars. Historically, Accident Exchange relied on a traditional data management approach, whereby the producers and consumers of organizational data were both siloed and based on proprietary technologies. These data and technology silos made the management, governance and location of data very difficult, especially as the number of data producers and consumers continued to grow.
By integrating HCP into their data and business processes, Accident Exchange has simplified the management of insurance claim data, making communication with stakeholders and third parties easier, more accurate and more efficient. The solution abstracts files away from the creating application to ensure that all the data for each claim is stored in one place. This guarantees a quality audit trail for each customer interaction, which, in turn, helps the company stay compliant with legislation, such as the upcoming GDPR.
“Operating in a siloed fashion did not give us the data control we needed, with multiple proprietary systems to manage, back up and protect all customer interactions. With a minimum retention period of 10 years, our data volumes were in danger of ballooning,” said Ray Ford, CTO at AIS Group. “The unique capabilities of HCP give Accident Exchange complete control over its business application data, from call recordings to engineers’ crash reports. With HCP, we can prevent changes to evidentiary documentation, defensibly retain and delete data, anonymize customer details, and simultaneously ensure full compliance with insurance and financial industry regulations.”
HCP is the only technology offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search and analytics to create a tightly integrated, simple and smart cloud storage solution. HCP provides massive scale, multiple storage tiers, powerful security, cloud capabilities and multitenancy, all backed by legendary Hitachi reliability. Designed to preserve data for long durations, HCP carries built-in data protection mechanisms and fluently evolves as storage technologies change. Furthermore, HCP is able to address a wide range of challenges through a thriving community of third-party software partners as well as traditional and cloud storage protocols. HCP eliminates the need to maintain separate systems for each workload and bridges the gap between traditional applications and modern modes of operation. Customers enjoy faster time to value and service providers accelerate time to market by eliminating the hassles of do-it-yourself integrations or forced-fit interoperabilities.
“There’s no one-size-fits-all solution that works for everybody. That’s why it was important for us to listen to the business challenges that Accident Exchange faces and continually evolve our portfolio in ways that can address a wide range of data challenges while delivering net-positive business outcomes,” said Peter Sjoberg, vice president, Global Content and Data Intelligence Business, Hitachi Vantara.
“Heavily regulated industries, like insurance and financial services, often have the staff and budgets in place to adapt to new regulations like GDPR, but not all organizations can be so well prepared,” he explained. “The value of our portfolio is steeped in the flexibility of our data architecture and our focus on getting data under management with a focus on quality. This is the key to supporting initiatives like GDPR with minimal disruption to your business – regardless of industry.”
Sjoberg added, “With respect to Accident Exchange, by building their technology foundation on HCP as the centralized data hub, they are able to better service their customers with confidence in how their data is processed and stored. More importantly, the flexibility that HCP affords them means that they are also ready to embrace the next set of industry regulations without overhauling their technology foundation.”
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About NEXT 2017 by Hitachi
NEXT 2017 by Hitachi is the premier event for the digital revolution. It's for business leaders who want to win – not just compete – and innovate faster to thrive in the digital economy. And to reinvent their business even if they weren't born in the cloud. You'll experience the latest solutions and services so that you can get the most value in your data. It's all made possible by integrating information technology with the operational technologies of the world's infrastructure through the internet of things. Gain the expertise of Hitachi, one of today's industrial giants. Achieve incredible value when this expertise meets Hitachi's strength in data management and analysis. It's part of our vision of Social Innovation to help businesses succeed and societies be safer, healthier and smarter. NEXT 2017 will be held September 18-20, 2017, at Mandalay Bay in Las Vegas. For more information and to register, please visit HitachiNEXT.com.
About Hitachi Vantara
Hitachi Vantara, a wholly owned subsidiary of Hitachi, Ltd., helps data-driven leaders find and use the value in their data to innovate intelligently and reach outcomes that matter for business and society. We combine technology, intellectual property and industry knowledge to deliver data-managing solutions that help enterprises improve their customers’ experiences, develop new revenue streams, and lower the costs of business. Only Hitachi Vantara elevates your innovation advantage by combining deep information technology (IT), operational technology (OT) and domain expertise. We work with organizations everywhere to drive data to meaningful outcomes. Visit us at HitachiVantara.com.
About Hitachi, Ltd.
Hitachi, Ltd. (TSE:6501), headquartered in Tokyo, Japan, delivers innovations that answer society’s challenges. The company’s consolidated revenues for fiscal 2016 (ended March 31, 2017) totaled 9,162.2 billion yen ($81.8 billion). The Hitachi Group is a global leader in the Social Innovation Business, and it has approximately 304,000 employees worldwide. Through collaborative creation, Hitachi is providing solutions to customers in a broad range of sectors, including Power / Energy, Industry / Distribution / Water, Urban Development, and Finance / Government & Public / Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
HITACHI is a trademark or registered trademark of Hitachi, Ltd. All other trademarks, service marks, and company names are properties of their respective owners.
Company Contact:
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Hitachi Vantara
+1 408 499 7349
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Smart meters to be introduced to every Irish home and business | The Republic of Ireland plans to roll out a €1.2bn ($1.4bn) smart meter programme in 2019 that will take in every domestic household and business in the country by 2024, according to the Commission for Energy Regulation. The move follows a trial in 2009 and 2010, a lengthy consultation process and a detailed cost benefit analysis, which demonstrated the meters offered value for money. The machines enable customers to monitor their electricity consumption more closely and make it easier to switch providers, among other benefits. | https://www.rte.ie/news/2017/0920/906377-smart-electricity-meters/ | 2017-09-22 11:22:45.003000 | Smart electricity meters are to be introduced to every home and business in Ireland, after permission was given for the plan to proceed.
The Commission for Energy Regulation (CER) says the initial phase of the rollout will commence in 2019, with all 2.3 million customers receiving the meters by 2024.
The project will cost €1.2 billion, with electricity customers ultimately footing the bill over time.
According to the CER, electricity customers will pay around €5.50 extra on their bill annually over a 20 year period.
However, the regulator estimates that each premises will see savings of three to four times that from use of their smart meter.
Smart meters are next generation internet connected devices for recording and monitoring energy usage and will replace older mechanical meters.
They allow users to monitor their electricity usage closely and switch providers more easily.
They also enable those providers to offer more personalised tariffs, read meters remotely and predict demand for power more accurately.
The meters are also expected to help the environment by reducing the amount of energy used by people.
Other European countries including the UK, Sweden, Norway and Italy have already begun to roll out smart meters to users.
A pilot programme was run in Ireland in 2009 and 2010, during which time around 8,000 homes received network-connected smart meters.
The trial found that, on average, those using the meters saved 3% on their bills.
Now, following a long consultation process and a detailed cost benefit analysis that showed the investment represents value for money, permission has been given for the rollout to proceed.
This means the procurement process for the technology can begin.
Initially, around 250,000 premises will have the meters installed in 2019 and 2020, with 500,000 more receiving them in the four subsequent years.
People who request them, and homes and businesses that need to have older near end of life meters replaced, will be prioritised.
CER Commissioner Aoife MacEvilly described the meters as an upgrade to the next phase of technology, which, she said, will eliminate the need for physical meter reads and deliver better data results.
She said the third phase of the project, sometime around 2024, will see gas meters being upgraded. |
Insurers, brokers seen as vital in helping firms navigate Brexit | Trade credit insurers and brokers can act as vital bulwarks for businesses as they navigate the economic and geopolitical uncertainties of Brexit, said Stuart Ramsden of trade credit insurer Atradius. They offer the reassurance and knowledge necessary for businesses to continue operating with confidence and to mitigate risks to trade relationships, Ramsden wrote in Insurance Age. "Astute businesses know that they can trade with more confidence if they have strong credit management partners working with them," he said.
| https://www.insuranceage.co.uk/insurer/3140626/brexit-uncertainty-highlights-the-importance-of-brokerinsurer-partnership | 2017-09-22 11:19:21.290000 | Stuart Ramsden of trade credit insurer Atradius argues that the combined resources of brokers and insurers offer a powerful tool in uncertain times.
In 2017 uncertainty is the name of the game. But despite the uncertainty, businesses need to continue to trade with confidence.
Providing that confidence is the perfect role for credit insurance and the challenge for those that work in the industry, particularly insurers and brokers, is to get that message to the market.
In the present risk climate, there is a need not just for protection against an individual debt or buyer, but against threats to a company’s longer term business strategy.
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Redrow North Cornwall MP opposes plans for 190 homes in Wadebridge | North Cornwall MP Scott Mann has called on UK housebuilder Redrow to abandon its application to the High Court, where it is seeking a judicial review after its plans to develop 190 homes in Wadebridge were rejected upon appeal by local councils, Cornwall Council and the government's Planning Inspectorate. In a letter to Redrow CEO John Tutte, Mann said the planning application had received a "fair hearing" and that he was "astonished Redrow continues to pursue this matter as far as the High Court".
| http://www.cornwalllive.com/news/cornwall-news/wadebridge-homes-high-court-challenge-517086 | 2017-09-22 11:12:15.223000 | Something went wrong, please try again later.
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The MP for North Cornwall is calling on housing and wind farm developers to abandon their High Court challenges after initial applications were rejected by planners.
Scott Mann, MP, has described his "dismay" at news that Redrow plc and Good Energy Group plc are appealing the rejection of plans for 190 homes in Wadebridge and a £30 million wind farm in Week St Mary respectively.
The two applications were rejected by local councils, Cornwall Council and the Government's Planning Inspectorate upon appeal, with the wind farm scheme also being rejected by the secretary of state for communities and local government this summer.
Both companies have now applied to the High Court for judicial reviews to try to overturn the decisions taken by the Planning Inspectorate.
In response, Mr Mann is calling on the two companies to abandon their High Court legal action and to respect the views of local people.
Writing to the chief executive of Redrow plc, John Tutte, regarding its failed application to build 190 homes on land off Trevanion Road, south of Cleavelands in Wadebridge, Mr Mann said: "The planning application for this proposed development received a fair hearing.
“It underwent significant scrutiny at a local level through the normal planning procedures at Cornwall Council, whereby many local residents lodged their objections alongside the evidence produced by the planning officer as to why planning permission had to be refused.
"Nearly one year later in July 2017, after receiving initial refusal from Cornwall Council, the application was again rejected by the Planning Inspectorate.
"This first appeal action was met with much disapproval locally, and I am astonished that Redrow continue to pursue this matter as far as the High Court.
"Of course, Redrow is well within their rights to seek a judicial review if it believes the Planning Inspectorate did not properly scrutinise and analyse the appeal.”
Mr Mann said he could not stress "the level of anger and disappointment" caused locally by Redrow's legal action.
Writing to Juliet Davenport, the CEO of Good Energy Group plc, which owns the Delabole wind farm, Mr Mann said: "The proposed wind farm was opposed by a number of parish and town councils during the original planning process and it also received widespread opposition from local residents.
“I would like to register my dismay on behalf of local communities that Good Energy is pursuing this proposal through the High Court, even though it has received a high level of objection from local people and official rejection by planning officials.
"This proposal has also been rejected by the communities and local government secretary himself. I therefore find it astonishing and alarming that Good Energy is ignoring this – particularly the will of local people – and is pursuing the matter in the High Court."
Mr Mann reminded the chief executive in his letter that the appeal for the wind farm went under extensive scrutiny by the Planning Inspectorate, including a public inquiry in Launceston Town Hall where local people and representatives were able to give their views.
Local communities will now have to wait and hear whether the legal action for either proposal will be allowed to continue in the High Court.
Cornwall Live has contacted both companies for comment. |
Facebook updates Collection Ads with Canvas templates | Facebook will improve its Collection feature, which displays a number of products beneath a video advertisement, with the addition of Canvas, the company's full-screen immersive ad units. The company said that combining the features will give brands the opportunity to “showcase their products in context and create a more meaningful branded experience”. Brands can also now re-target people who have clicked on Collection ads, use ads to drive in-store sales and track which products are driving traffic to their sites.
| http://www.adweek.com/digital/facebook-canvas-templates-collection-ads/ | 2017-09-22 11:08:55.400000 | The social network announced in a blog post that it will introduce a new Canvas template for Collection ads, which will be available to all advertisers next month.
Facebook debuted its e-commerce-driven Collection ads in March, consisting of a video on top and four recommended products below.
Canvas, Facebook’s full-screen, immersive mobile ad units, was introduced in February 2016.
Facebook said in its blog post that it hopes the combination of lifestyle images ads tagged with products within an immersive mobile experience will give brands the opportunity to “showcase their products in context and create a more meaningful branded experience.”
The new templates focus on three business objectives:
Acquiring new customers
Showcasing a business
Selling products
The social network added in its blog post, “Advertisers that have a Facebook product catalog can easily use the template to create a rich browsing experience, encouraging product discovery and... |
Blended learning continues to grow in the US | Online publication Campus Technology’s 2017 Teaching with Technology Survey found that across the US, 73% of higher education faculties are using blended learning on their courses, which combine online with face-to-face education. The figure is 2% up on 2016. Other findings include that 15% of faculty members still teach exclusively in person, while 12% are now fully teaching through online means. Of those surveyed, 76% stated that all or some of their classes are blended, with 9% considering using it. However, concerns were raised about cheating and identifying the individuals completing coursework using digital methods.
| https://campustechnology.com/articles/2017/09/20/survey-blended-learning-on-the-rise.aspx | 2017-09-22 10:57:17.437000 | Teaching with Technology Survey
Survey: Blended Learning on the Rise
Most faculty in our second annual Teaching with Technology Survey said they employ a mix of online and face-to-face instruction, and many are using the flipped model in their courses.
In a nationwide survey on the use of technology for teaching and learning, an increasing number of higher education faculty members said they employ a mix of online and face-to-face learning in their courses. A full 73 percent of respondents said they use the blended model — that's up from 71 percent in 2016. And while 15 percent of faculty are still teaching exclusively face-to-face, 12 percent have gone fully online (an increase from 10 percent teaching online in 2016).
Those findings came out of Campus Technology's 2017 Teaching with Technology Survey, in which we asked faculty to dish on their approach to teaching, use of technology, views of the future and more.
Diving deeper into the topic, we asked faculty both about the extent of their use of blended learning and about their plans for exploring that mode in the future. Seventy-six percent of respondents said all or some of their classes are blended (a notch up from 75 percent last year), while 9 percent plan to use the blended model in the next year or are considering the option.
One faculty member in West Virginia brought up a particular issue that could discourage some from moving to blended or online instruction: cheating. "The biggest challenge I see to technology in the classroom, especially with online classes, is the verification of the identity of the individual doing the work. In my online classes — and even the on-campus classes — cheating has become increasingly found among students."
In a related question, we asked faculty if they are flipping their classrooms — having students review recorded lectures or course content on their own and using class time for hands-on, active learning activities. Sixty-one percent of respondents said all or some of their classes are flipped (up from 55 percent in 2016). Twenty-four percent plan to use the flipped model in the next year or are exploring the idea.
A faculty member in Connecticut pointed to the flipped model as a way to make learning more engaging: "Technologies that will improve learning will engage students in doing more thinking. So much of what we see now is making learning more convenient, but not really increasing student engagement in and responsibility for their own learning. Flipped classroom models are moving in the right direction, asking students to engage with course content in creative and productive ways."
The full results of the Teaching with Technology Survey appear in the July digital issue of Campus Technology. Highlights from the survey will also be posted on this site over the coming months. You can check back for ongoing coverage in our Research section.
Who Responded Our survey polled 232 faculty members across the country about their use of technology in the classroom, their likes and dislikes, their predictions for the future and more. The majority of respondents (68 percent) come from public institutions, with 28 percent from private nonprofits and 4 percent working at for-profit schools. Seventy-two percent work at four-year colleges or universities; 26 percent are at community colleges (the remaining 2 percent designated their institutional level as "other"). Respondents represent institutions of a range of sizes, with about one-third (32 percent) working in colleges or universities with 2,500 to 9,999 students. Just under half (45 percent) of respondents are from institutions with 10,000 students or more. Our respondents are veterans of higher education: The largest group (47 percent) has more than 20 years of experience, with 81 percent logging at least 11 years in the field. The top three most common school and college types among our respondents are education (22 percent), business/business administration (17 percent) and liberal arts (12 percent). But overall, respondents work in a wide range of disciplines, from engineering and medicine to humanities and fine arts. The top 10 states with the most survey respondents are New York, Texas, California, Florida, Georgia, Virginia, Illinois, Missouri, Pennsylvania and Massachusetts. |
African lender Ecobank adds cardless banking to its mobile app | African lender Ecobank has added cardless banking functionality to its mobile app, enabling customers to use their phones to make digital payments, withdraw cash from ATMs and manage their accounts. Xpress Cash is aimed at attracting new savers, including unbanked Africans, said CEO Ade Ayeyemi. World Bank data from 2014 indicates only a third of sub-Saharan African adults held bank accounts. The app means "your phone is your access to cash", said Patrick Akinwuntan, group executive for consumer banking. "It is your bank in your pocket. That’s inclusion for all.”
| http://www.businessnewsreport.com.ng/ecobank-takes-mobile-banking-new-heights-xpress-cash-cardless/ | 2017-09-22 10:44:19.787000 | Ecobank in its financial inclusion drive to address the needs of the unbanked and the general populace has introduced Xpress Cash functionality as part of its upgraded mobile banking app. The application is aimed at transforming a mobile phone into an all-in-one bank account and payment/cash withdrawal tool.
Xpress Cash the bank said allows customers to withdraw cash from any Ecobank ATM using e-Tokens generated from the Ecobank Mobile app. The e-token generated can also be redeemed at agent locations within any of Ecobank’s 33 territories across middle Africa. Additionally, customers can send e-tokens to third parties via SMS, email or social media.
Ecobank CEO Ade Ayeyemi said “Innovating for customer convenience is in our DNA at Ecobank. We have developed this fast, convenient and innovative mobile banking solution – cardless Xpress Cash at our ATMs and Agencies to embed our digital platforms within the lifestyle of our customers and improve the uptake of digital financial solutions by both banked and unbanked in Africa.”
World Bank data indicates that in Sub-Saharan Africa only 34 per cent of adults had a bank account in 2014, up from 24 per cent in 2011. However according to the GSMA report – The Mobile Economy Sub-Saharan Africa 2017, at the end of 2016, there were 420 million unique mobile subscribers in Sub-Saharan Africa. This accounts for almost 10 per cent of the global mobile subscriber base, and is expected to exponentially grow.
“Ecobank is known across Africa for leveraging the mobile phone to deliver instant bank accounts, transfers and payments to our customers. We are taking this to another level by giving our customers the opportunity to withdraw cash on our ATMs using their phones. What this means is that your phone is your access to cash. It is your bank in your pocket. That’s powerful. That’s freedom. That’s inclusion for all.” said Patrick Akinwuntan, Ecobank’s Group Executive for Consumer Banking. |
E-commerce in India valued at $1.7bn in run-up to Christmas | The total value of the Indian e-commerce sector this festive season is expected to be around $1.7bn, up 60% from last year. Companies' total spend for the holiday period is also set to rise by 60%. A 2015 report by Goldman Sachs found that 30% of an Indian e-commerce company’s expenses goes towards discounts, to encourage new customers and maintain market competitiveness. Online retailers are expected to spend more on logistics and supply chain management, but less on total advertising, favouring low-cost digital channels. | https://qz.com/1083965/led-by-cash-rich-flipkart-and-amazon-indian-e-tailers-will-burn-up-to-60-more-cash-this-festive-season/ | 2017-09-22 10:43:05.060000 | What funding crunch and pressure for profits? It’s India’s biggest festive season and, as usual, e-commerce players are splurging.
Between September and December, the cash burn—the amount companies spend to run their businesses—is estimated to reach up to $400 million, according to research firm RedSeer Consulting. This is up to 60% higher than the $250 million spent last year.
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The good news, however, is that it may result in more business. RedSeer estimates the total GMV (gross merchandise value, or the total value of goods sold from a marketplace) of the Indian e-commerce sector this festival season to be about 60% higher than a year ago at $1.7 billion (Rs11,309 crore).
Festive season sales make for a huge share of the total annual sales in segments like apparel, consumer goods, and home decor. So companies go on advertising sprees during this time.
Ahead of this year’s season, India’s e-commerce posterboy Flipkart raised its biggest-ever funding round of $2.5 billion.
The cash burn “could pay off if the industry is able to deliver a top-class experience to the millions of new shoppers this time around and retain them going forward,” Anil Kumar, CEO of RedSeer Consulting, said.
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Where’s the cash going?
Like every year, companies are likely to spend on discounts. It will be higher than the previous year, RedSeer Consulting said, without putting any figure to it.
Price-sensitive Indians love discounts and lower prices have been key to online shopping. According to a 2015 report by Goldman Sachs, 30% of an Indian e-commerce company’s expenses go towards discounts.
“With the latest funding firepower, this time around, market leader Flipkart would most likely increase discounting spends to acquire new customers as well as to gain momentum over rival Amazon,” RedSeer Consulting said in the report. Amazon India and Paytm Mall are likely to follow suit, it said.
The other area where online retailers will spend more than last year is logistics and supply chain management.
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“Customer demographics have changed compared to (the) past year with tier-II becoming a more important share (of the customer base)…E-tailers are more dependent on third-party logistics players for delivery (to tier II areas) which adds to the overall expenses,” RedSeer said.
The one area where spending is seen flat or marginally lower this year is advertising. For companies are now increasingly spending on low-cost channels such as digital marketing.
Flipkart is focusing on “personalised digital push,” Moneycontrol.com reported earlier this month. ”The Big Billion Days sale was the only big sale event online when we started. Now it is more of festive season sale, given many other players offer the same. In this scenario, we need to cut through the clutter and innovate ways to reach out to our potential users,” Flipkart’s director for marketing, Kartikeya Bhandari, told the news portal. |
Mahindra mobile PV testing lab to tackle waning performance | Indian renewable energy firm Mahindra Susten, part of the Mahindra Group, has launched a mobile photovoltaic testing lab in response to the number of modules from Tier I suppliers that are degrading by up to 10% in their first few years of use. The lab tests for micro-cracks and cell cracks, hotspots or diode defects, and can also perform a flash test. Mahindra Susten has applied for accreditation for the lab from the National Accreditation Board for Testing and Calibration Laboratories, and is considering increasing its number of mobile labs. | https://www.pv-tech.org/news/mahindra-launches-indias-first-mobile-pv-testing-lab-as-some-project-perfor | 2017-09-22 10:12:33.533000 | Mahindra Susten has launched what it claims to be India’s first mobile PV lab as quality standards are set to be brought in and some third-party solar projects see significant module performance drops across the country.
Speaking to PV Tech at the REI Expo near Delhi, Satish Pandey, head, performance analytics and PV testing, Mahindra Susten, said: “The main reason behind this is after one year or two years the module performance is degraded drastically, particularly in India.”
He said that the quality of modules coming into India even today can be low. During field testing as a third-party, the firm has observed some projects with supplied modules degrading up to 10% just in the first year. Meanwhile, several other projects have seen modules operate within the warranty limit for two years before degrading as much as 8% just in the third year and these are all modules supplied by tier-one manufacturers.
The new test lab has three main applications:
Flash test – or Sun Simulator – to record the module power in similar conditions to that of the module manufacturer Elector luminescence (EL) testing to find micro-cracks and cell cracks Thermal inspection to test the module for hotspots or diode defects
The company has just one lab to date, but depending on market response, will consider developing more to cover the whole of India.
Pandey said response from industry has been good so far and the Lab has applied for accreditation from NABL (National Accreditation Board for Testing and Calibration Laboratories – an autonomous body under the aegis of Department of Science & Technology), and has also approached the Ministry of New and Renewable Energy (MNRE) for the empanelment of the laboratory, which would allow Indian solar industry asset owners to make the most of the lab results. Pandey was confident that Mahindra will see positive results on both shortly.
MNRE also recently confirmed that new quality standards would be brought in in 12 months’ time, which will make it mandatory for every EPC player to do onsite testing. The mobile lab, which is compatible for all technologies, allows for onsite testing and removes damage from transportation risks as well as giving transparency to the owner who can witness the tests.
This article has been updated to clarify the accreditations that were applied for. |
Germany clears online ransom to be covered by cyber insurance | German property and casualty insurance companies can, for the first time, offer a single policy covering ransom payments as well as general cyber risks, following a clarifying statement from the German Financial Supervisory Authority (BaFin). It said that, in addition to existing kidnap and ransom restrictions, ransom cover can only be combined with cyber policies, may not be advertised as part of a cyber policy and must not interfere with police investigations. BaFin's ruling also covers companies from European Union member states and the European Economic Area that are working in Germany. | https://www.lexology.com/library/detail.aspx?g=5b897853-0f1d-495e-9a8b-8bbbf9f449ba | 2017-09-22 10:04:59.707000 | In the September 2017 edition of its monthly journal, the German Financial Supervisory Authority (BaFin) published a statement on the insurability of cyber extortion payments. BaFin decided to allow coverage for cyber extortion payments in combination with general cyber policies. Following this clarification, there is now legal certainty that from now on, cyber extortion payments can be covered under cyber policies.
In the past, cyber extortion payments were subject to the general BaFin provisions on the insurability of kidnap and ransom insurance (K&R). Until 1998, K&R insurance was inadmissible due to the German regulator’s strict approach finding that the insurance of K&R claims would foster the risk of kidnapping and would therefore violate public policy. While none of the BaFin publications on this subject are technically legally binding, they can be deemed as a clear indication of the regulator's expectations. Moreover, such publications will usually constitute a self-commitment of BaFin with the effect that BaFin has to treat similar cases alike.
In 1998, BaFin changed its opinion by publishing a circular letter and stating that under certain conditions the provision of product extortion and ransom insurance does not violate public policy. However, BaFin still considered K&R insurance only admissible under strict requirements such as: no combination with other coverage, no advertisements, contract term not to exceed one year, confidentiality as regards coverage (information of no more than three persons). BaFin has adjusted the requirements for K&R insurance three times since the circular letter was published. In 2000, BaFin stated that a separate K&R license was no longer required and, since 2008, has accepted automatic policy renewals as admissible under certain circumstances. In 2014, BaFin stated that in certain scenarios more than three persons may be informed about the K&R policy but also stressed that the other strict requirements for K&R insurance would remain applicable.
Following these strict requirements also for cyber insurance purposes, insurers were to provide German policyholders with two separate cyber policies: the main policy to cover the standard cyber risks and the separate policy to cover cyber extortion payments.
Therefore, besides providing legal certainty, the recent BaFin statement simplifies the business for insurance companies providing comprehensive cyber coverage. From now on, they can provide one cyber policy that covers general cyber risks as well as ransom payments. However, it should be noted that the ransom coverage can only be combined with cyber policies and not with any other insurance policies, such as crime policies for instance.
Moreover, BaFin underlines in its recent statement that the other strict requirements established in the circular letter of 1998 are, in general, still applicable. If an insurer decides to offer comprehensive cyber coverage including ransom payments, in particular the following restrictions are still relevant:
The cyber policy can still be advertised but it is not admissible to advertise the ransom component. It has to be ensured that the ransom coverage does not interfere with police investigations. The insurers have to ensure high data protection standards which have to be adapted to the ongoing technical developments.
The new BaFin publication is addressed to insurers that have a licence to conduct property and casualty insurance business in Germany. It is also applicable for insurers from other member states of the European Union and the European Economic Area conducting business in Germany on a freedom of services or freedom of establishment basis. |
Uber loses London licence over corporate responsibility failings | Uber has had its application for a new London licence rejected on the grounds that the company is not a “fit and proper” private car hire operator. The firm’s current licence expires on 30 September, but Uber, which plans to appeal, can continue to operate during the 21-day appeal process. Transport for London (TfL) argued that Uber’s behaviour showed “a lack of corporate responsibility” with regard to reporting criminal offences, obtaining medical documentation and checking the backgrounds of drivers. TfL also expressed concern about Uber’s use of the Greyball software, which can block regulators from accessing the company’s app. | https://www.theguardian.com/technology/2017/sep/22/uber-licence-transport-for-london-tfl | 2017-09-22 09:56:32.447000 | Uber has been stripped of its London licence in a surprise move that dealt a serious blow to one of Silicon Valley’s fastest rising companies and sparked an outcry from a coalition of customers, government ministers and drivers at the ride-hailing company.
The firm’s application for a new licence in London was rejected by Transport for London on the basis that the company is not a “fit and proper” private car hire operator.
Uber’s cars will not disappear immediately as its current licence expires on 30 September and it plans to challenge the ruling by London’s transport authority in the courts immediately. The firm can continue to operate in the capital – where it has 3.5 million users – until it has exhausted the appeals process, which could take months..
Uber’s chief executive, Dara Khosrowshahi, wrote to staff on Friday confirming that the company would appeal against the ruling. He said he disagreed with the decision but it was based on past behaviour.
“The truth is that there is a high cost to a bad reputation,” he wrote. “It really matters what people think of us, especially in a global business like ours.
“It’s critical that we act with integrity in everything we do, and learn how to be a better partner to every city we operate in. That doesn’t mean abandoning our principles – we will vigorously appeal TfL’s decision – but rather building trust through our actions and our behaviour. In doing so, we will show that Uber is not just a really great product, but a really great company that is meaningfully contributing to society, beyond its business and its bottom line.”
Khosrowshahi, who was brought in to run the firm after a series of scandals, also tweeted an appeal to Londoners to “work with us” in solving the issue.
Dear London: we r far from perfect but we have 40k licensed drivers and 3.5mm Londoners depending on us. Pls work w/us to make things right — dara khosrowshahi (@dkhos) September 22, 2017
The decision by TfL was backed by the London mayor, Sadiq Khan, employment rights campaigners, and the trade body for the capital’s black-cab drivers, who have been staunch opponents of the US-based company.
However, it drew immediate criticism from Uber users, drivers and Greg Hands, the trade minister.
One of Uber’s 40,000 drivers in the capital, James Farrar, who has campaigned for better working conditions at the firm, said TfL’s decision was a “devastating blow”.
TfL said it had rejected the company’s application to renew its licence because “Uber’s approach and conduct demonstrate a lack of corporate responsibility” in relation to reporting serious criminal offences, obtaining medical certificates and driver background checks.
The licensing body also said it was concerned by Uber’s use of Greyball, software that can be used to block regulatory bodies from gaining full access to its app and undertaking regulatory or law enforcement duties.
The decision to remove Uber from one of its biggest markets is the latest blow for a company that has shot to a $70bn (£52bn) valuation since it was founded in 2009 but has been hobbled by opposition from national and municipal governments around the world – including in Italy and Rio de Janeiro – due to concerns over safety or the threat to existing taxi businesses.
Prof Andre Spicer, from Cass Business School in London, said the decision was a “potentially mortal blow” to Uber. “In the past Uber operated at the edge of the law with new technology as an alibi. Now its rogue business model is proving to be a big liability.”
Khan said he fully supported TfL’s decision, saying all companies needed to “play by the rules”.
He said: “I want London to be at the forefront of innovation and new technology and to be a natural home for exciting new companies that help Londoners by providing a better and more affordable service.
“However, all companies in London must play by the rules and adhere to the high standards we expect – particularly when it comes to the safety of customers.”
But Hands, who is also minister for London, said: “At the flick of a pen Sadiq Khan is threatening to put 40,000 people out of work and leave 3.5 million users of Uber stranded.
“Uber must address safety concerns and it is important there is a level playing field across the private hire market.
“But a blanket ban will cause massive inconvenience to millions of Londoners, all while showing that the Mayor of London is closed to business and innovation.”
Sam Gyimah, a Conservative justice minister and MP for East Surrey, said it was “possible to have effective regulation of Uber without
penalising the consumers who benefit from more choice and lower
prices”.
Steve McNamara, general secretary of the Licensed Taxi Drivers’ Association, which represents black-cab drivers, said the mayor had made the right decision.
“Since it first came on to our streets Uber has broken the law, exploited its drivers and refused to take responsibility for the safety of passengers. This immoral company has no place on London’s streets,” he said.
Uber said in a statement the decision would “show the world that, far from being open, London is closed to innovative companies”.
“3.5 million Londoners who use our app, and more than 40,000 licensed drivers who rely on Uber to make a living, will be astounded by this decision,” the company added.
The company wrote to users on Friday asking them to “defend the livelihoods” of its drivers and sign a petition asking the mayor to reverse TfL’s decision.
Help ensure Londoners have more, not fewer, transportation options—sign the petition. https://t.co/nheuOcYjQH — Uber (@Uber) September 22, 2017
Farrar, a co-claimant in a landmark employment tribunal decision against Uber and chair of the Independent Workers’ Union of Great Britain’s private hire drivers’ branch, said TfL should have stepped in earlier to protect drivers.
“To strip Uber of its licence after five years of laissez-faire regulation is a testament to a systemic failure at TfL,” he said.
The majority of Uber users responding to a Guardian request for comment opposed the decision to revoke the company’s licence.
Helen, from Walthamstow in east London, criticised the decision and said TfL should be working more closely with Uber. “With a lack of staff and police visible [on public transport], I often feel unsafe travelling alone and Uber has given me an affordable alternative to get home safely,” she said.
Leo, a wheelchair user, said less than 30% of the tube network was accessible to him and buses were slow. “Uber has been a lifesaver for me. It has got me to visit family at short notice when the nearest accessible station was miles away and the bus took two hours,” he said.
In London, Uber has faced criticism from unions, lawmakers and traditional black-cab drivers over working conditions. Unions including the IWGB and GMB called on TfL to insist Uber guaranteed basic employment rights under the terms of its new five-year licence.
Employment rights campaigners said TfL’s decision was a warning shot to so-called gig economy companies, which include apps such as Deliveroo and delivery firms such as Hermes who argue their drivers and riders are self-employed.
Frank Field, the Labour MP who led a parliamentary inquiry which found that Uber drivers were treated as Victorian-style “sweated labour” said: “This is a gamechanger for the gig economy. Uber must now respond to TfL’s decision by totally resetting its business model.” |
Aldi stores across US to accept Apple Pay | Aldi’s almost 1,700 US stores are set to accept payments through Apple Pay and Android Pay, enabling anyone with NFC-enabled payment options on their phone to shop without cash or card. Payment will also be possible with contactless cards and wearable devices, such as smartwatches. It is hoped the new payment methods will make checking out quicker and easier.
| http://appleinsider.com/articles/17/09/21/nearly-1700-aldi-grocery-stores-gain-support-for-apple-pay-contactless-payments | 2017-09-22 09:47:01.200000 | If you buy through our links, we may get a commission. Read our ethics policy
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iPhone and Apple Watch users shopping at Aldi grocery stores can now check out with Apple Pay at nearly 1,700 locations across the U.S., marking a significant expansion for Apple's tap-to-pay service.
Beyond the iPhone, Aldi's expansion also includes Android Pay, meaning most anyone with an NFC-based payment system on their phone will be able to check out conveniently without swiping or inserting a credit card.
Payment terminals at checkout will also support contactless bank and credit cards, as well as NFC-enabled wearable devices like the Apple Watch.
"We're continually innovating to provide our customers a faster, more efficient shopping experience that saves them time and money," Aldo Chief Executive Jason Hart said. "Shoppers love ALDI because we build and run stores they can shop quickly. Contactless payment makes shopping at ALDI that much faster and more convenient."
As of 2016, Aldi had 1,602 stores across the U.S. Recent expansions have brought the chain close to 1,700 locations in America.
Apple Pay support has gradually expanded since the feature launched on the iPhone 6 nearly 3 years ago. One recent popular addition was the Citi Bike bicycle sharing service in New York City.
The capabilities will further expand this fall with the launch of Apple Pay Cash, allowing for person-to-person money transfers direct from an iPhone or Apple Watch. |
California Nervously Awaits U.S. Senate’s Verdict On Obamacare | Congressional Republicans are giving repeal of Obama’s signature health law one more try. They have until the end of the month to garner enough votes to pass the so-called Graham-Cassidy bill, which would fundamentally change how health care is funded nationwide. Its effects would be especially far-reaching in California and other states that bought heavily into the Affordable Care Act.
| http://californiahealthline.org/news/a-nail-biter-california-nervously-awaits-u-s-senates-verdict-on-obamacare/ | 2017-09-22 09:35:20.567000 | 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.
Congressional Republicans are giving repeal of Obama’s signature health law one more try.
They have until the end of the month to garner enough votes to pass the so-called Graham-Cassidy bill, which would fundamentally change how health care is funded nationwide. Its effects would be especially far-reaching in California and other states that bought heavily into the Affordable Care Act.
Former U.S. Sen. Rick Santorum, a Republican from Pennsylvania who been working with GOP leaders to craft the latest measure, told Breitbart News that four states — Massachusetts, California, New York and Maryland — receive a disproportionate share of Obamacare funding. The Graham-Cassidy bill, he said, would “redistribute this money that has been heaped upon these four ultra blue, very wealthy states by the way, and don’t need a lot of federal support because they’re very wealthy states.”
Other Republicans who favor the bill argue it would provide states with increased flexibility while controlling costs.
Perhaps the most significant changes in the bill: allowing states to opt out of the “essential health benefits” guaranteed by the ACA and using lump sums, or “block grants,” to pay for Medicaid (Medi-Cal in California) and federal subsidies for the Obamacare exchanges, including Covered California. The bill also would remove the individual mandate for all Americans to obtain coverage. Critics say that could result in a riskier insurance pool dominated by sicker patients, making coverage less affordable for everyone.
In this radio segment, Emily Bazar of California Healthline and Kaiser Health News discussed the potential impact of the proposal in California and Nevada with Capital Public Radio host Beth Ruyak. The interview preceded a conference Thursday in Sacramento in which Bazar moderated a panel discussion titled “The ACA: What Happens Under Trump.”
One point Bazar underscored in her remarks about the future of the ACA: “I will not make any predictions.” |
The push for single-payer health care just went national. What does that mean for the California effort? | When Vermont Sen. Bernie Sanders visited Beverly Hills last May, he made a full-throated appeal for California to “lead the country” and pass a pending state proposal to establish single-payer health care.
| http://www.latimes.com/politics/la-pol-ca-bernie-sanders-single-payer-20170922-htmlstory.html | 2017-09-22 09:34:34.490000 | Last May, Sen. Bernie Sanders lauded California’s proposed single-payer healthcare plan. (Sept. 22, 2017) (Sign up for our free video newsletter here http://bit.ly/2n6VKPR)
When Vermont Sen. Bernie Sanders visited Beverly Hills last May, he made a full-throated appeal for California to “lead the country” and pass a pending state proposal to establish single-payer healthcare.
On Friday, he’ll return here for a San Francisco speech trumpeting his own higher-stakes plan — a bill to drastically overhaul the nation’s health-care system by covering everyone through Medicare .
The push for single-payer, in which the government pays for residents’ medical care, has already rattled California’s political landscape. Now, the Sanders measure brings an additional jolt, elevating the issue to a national debate that has implications for the future direction of the Democratic Party and early jockeying in the 2020 presidential race .
The Sanders plan has left proponents of state Senate Bill 562, the California proposal, elated, viewing the buzz in Washington, D.C., as an unequivocal boon to their efforts in Sacramento, which faltered this summer when the measure was shelved in the state Assembly.
“It phenomenally buttresses SB 562,” said RoseAnn DeMoro, executive director of the California Nurses Assn./National Nurses United, the bill’s most fervent supporter. “The fact is, it’s in the national narrative now.”
But the parallel state and federal proposals could also make an already thorny issue more difficult by laying bare the challenges facing California should it embark on the single-payer route alone — and ramping up the pressure for the state to establish itself as a national model.
Sanders, who has a huge liberal following in California from his presidential bid, has been an enthusiastic proponent of the state’s proposal, casting it as a head start for his national single-payer ambition.
“Please make my life easier,” he pleaded in May, endorsing the bill by state Sen. Ricardo Lara (D-Bell Gardens) that was then winding its way through committee hearings. It was abruptly halted by Assembly Speaker Anthony Rendon (D-Paramount) several months later, but is still eligible for consideration next year. At the time, Rendon called the plan “woefully incomplete.”
For now, the two bills face vastly different political terrains. Sanders’ measure, which was rolled out last week, would have to clear a Republican Congress and survive President Trump ’s veto pen, an almost unimaginable scenario. In California, the prospect is theoretically less futile with Democrats dominating the state Capitol, although this year’s stumble showed how resistance to single-payer is not simply partisan.
Policy-wise, Sanders’ bill echoes California’s. Both proposals would do away with nearly all out-of-pocket health-care costs for residents, including premiums and co-pays. Both would dramatically reduce the role of private insurance companies, with government filling that role instead.
While proponents of each bill have floated potential financing schemes, neither piece of legislation includes tax hikes or a specific way to cover costs.
Both measures have been framed by supporters as a rejoinder to the repeated attempts by Republicans in Congress to repeal the Affordable Care Act , including a new Obamacare overhaul poised for a Senate vote next week.
The debate over single-payer healthcare in California isn't going away. Here's why »
Lara, the author of SB 562, backs the Sanders plan. But despite the bills’ similarities, other California politicians have reacted differently to the two proposals.
U.S. Sen. Kamala Harris is one of 16 Democratic senators to co-sponsor Sanders’ bill.
“United States taxpayers deserve a better return on their investment, and that's why I'm supporting Medicare for All,” Harris said in a statement. “It is about saying that healthcare is a right for all, not a privilege for a few.”
Harris did not take a position on the California bill, and her office did not address a reporter’s specific questions on the state-level effort this week.
Lt. Gov. Gavin Newsom , a 2018 gubernatorial hopeful who, along with Sanders, will address the nurses’ union Friday, has been unequivocal in his support for the Sanders bill.
But he has been more circumspect on his thoughts on SB 562, explaining in an interview that he wanted to see the legislative process in Sacramento “run its course.”
“The bill's not perfect. It's not complete,” Newsom said. “The end result would hardly look like it looks today had it had a chance to process through the Legislature.”
One of Newsom’s Democratic rivals in the governor’s race, former Los Angeles Mayor Antonio Villaraigosa , said he supports the concept of having national single-payer health-care coverage, but he opposed SB 562.
“I don’t support it because it doesn’t have a funding plan,” Villaraigosa said. “The notion that we would just transfer to a single-payer system on our own with the price tag of $400 billion is not something people see as feasible.”
Single-payer backers such as DeMoro expressed little patience with distinguishing support for a state proposal versus a national one.
“If you're a single-payer advocate, you're going to support SB 562. If you're just politically posturing, you might not,” DeMoro said. She added she has “confidence” that Newsom, whom her group endorsed nearly two years ago, sufficiently backs the state bill.
A state-level single-payer system in California is attainable, according to health-care experts.
“We are large enough to do what needs to be done,” said Gerald Kominski, director of UCLA’s Center for Health Policy Research. “We've got a large enough pool of people. We've got a strong economy. So we could go it alone.”
As long as there’s a Republican Congress and a Republican president, everyone knows this is an organizing tool rather than an immediate threat to pass. — Eddie Kurtz, president of Courage Campaign, on Sen. Bernie Sanders' Medicare for All bill
Still, there are unique snags to a state-only system. Most significantly, California would need to get permission from the federal government to repurpose dollars from Medicare, Medicaid and other programs. That prospect appears hazy under Trump, who called single-payer a “curse on the U.S.” in a recent tweet. And California’s state constitution has spending limits and rules on how revenue must be spent that serve as obstacles to using new taxes for increased healthcare spending.
A California single-payer system could also be more vulnerable to “medical tourists” from other states establishing residency here — a relatively easy step under the proposal — to take advantage of free care.
Sanders’ proposal essentially expands Medicare, a single-payer system already in place. California, however, has no equivalent program; it would have to build one from scratch.
Medicare “is a framework that, I think, most people can get their arms around. It’s a process that provides for at least some understanding and familiarity,” Newsom said. “At the state level, the requirements are very different …. It’s a more challenging frame.”
Single-payer advocates in the state said while they’re thrilled by Sanders’ proposal, their primary efforts will still be in California where such a plan is more politically possible.
The progressive group Courage Campaign convened liberal activists this week in Sacramento to strategize on how to push ahead with a state-level health-care overhaul.
“As long as there’s a Republican Congress and a Republican president, everyone knows this is an organizing tool rather than an immediate threat to pass,” said Eddie Kurtz, the group’s president. “It’s wonderful to have that goalpost out there.”
Assemblyman Kevin McCarty (D-Sacramento), a co-author of SB 562 who nonetheless called the bill not “ready for prime time,” said he didn’t expect lawmakers to cede the issue to Congress.
“The best way to do it and the most viable is to have a national plan for this,” McCarty said. “Does that mean California should sit around and wait for the nation to do it? No. I think we'll be evaluating how to do it.”
The national debate underscores how high the stakes will be. Proponents are hoping California will serve as Massachusetts did for the Affordable Care Act, establishing a model the country can follow.
The potential of being an archetype also comes with more responsibility to craft the best policy, said Rendon, who has urged broadening the healthcare overhaul debate beyond SB 562. He is facing a recall effort for deciding to shelve that bill.
“The possibilities of a national system changes the conversation,” Rendon said. “If we're going to do universal healthcare in California — whatever manifestation that may take — there may be more of a need to get it right than there would have been otherwise.”
Times staff writer Phil Willon in Sacramento contributed to this report.
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Follow @melmason on Twitter for the latest on California politics.
California Assembly leader Anthony Rendon's decision to shelve single-payer healthcare angers progressive activists
Q&A: What would California's proposed single-payer healthcare system mean for me?
Updates from Sacramento
UPDATES:
9:20 p.m.: This article was updated with more information about how single-payer faces potential constitutional challenges.
This article was originally published at 12 a.m. |
Mercedes to invest $1bn in EV/Battery plant in Alabama | Mercedes is investing more than $1bn to upgrade its US plant for assembling batteries and electric SUVs based in Tuscaloosa, Alabama. Mercedes is preparing to launch its EQ line of EVs, starting with the EQ A midsize hatchback followed by the the EQ C SUV from 2020. Daimler said earlier this month that Mercedes will offer electric versions of all of its models by 2022, plus a new series of plug-in hybrids, for about 50 new models in all. The battery plant in Tuscaloosa will be its fifth globally. Earlier this year, it launched a US energy storage company. | https://www.greentechmedia.com/articles/read/mercedes-puts-1b-bet-on-electric-suv-plus-battery-plant | 2017-09-22 09:33:28.833000 | Mercedes is investing more than $1 billion to upgrade a U.S. plant for assembling batteries and electric SUVs -- putting a big bet on the market for larger battery-powered vehicles.
The German automaker, owned by Daimler, made the announcement Thursday at its Tuscaloosa, Alabama plant, which makes its SUV models GLE, GLS and GLE Coupé.
Along with a nearby battery factory, Mercedes will upgrade factory lines to build its EQ brand electric SUV, the EQ C, starting sometime around 2020.
The move comes as Mercedes prepares to launch its broader EQ line of EVs, starting with the EQ A midsize hatchback, and now the EQ C. Daimler CEO Dieter Zetsche said earlier this month that Mercedes will offer electric versions of all of its models by 2022, plus a new series of plug-in hybrids, for about 50 new models in all.
All told, Daimler plans to invest $11 billion in EVs over the next five years.
The company told investors that profit margins may suffer in coming quarters as it ramps up sales of EVs -- which come with roughly half the profit margins of its internal combustion engine vehicles -- in order to prepare for a world market more focused on reducing vehicle emissions.
Daimler’s moves are being matched by automakers around the globe, and not just early EV entrants like Nissan and General Motors.
Volvo announced in July that every new vehicle model released starting in 2019 will be either a hybrid or electric. Audi is scaling up EV production at its Brussels plant. Volkswagen has committed to investing $10 billion over the next five years to bring 25 new EV models to market by 2025. And Ford plans to invest $4.5 billion in electrification by 2020.
Meanwhile, the electric SUV market is mainly defined by Tesla’s Model X -- a gull-winged, poorly reviewed vehicle. CEO Elon Musk described it as the “technology bandwagon of everything cool we could imagine all at once."
The Model X received Consumer Reports’ second-worst ranking in midsize luxury SUVs, and analysts report that vehicle registrations in the U.S. have been slipping over the past few quarters. Tesla recently dropped the price from $82,500 to $79,500.
Musk took a moment during a May earnings call to address the next SUV concept, the more fleshed-out Model Y. That vehicle, supposedly featuring a “genuine step change” in manufacturing, will “aspirationally” be out in 2019, or more likely in 2020, he said.
Battery prices are one of the most critical determinants in EV pricing, which has turned automakers into battery manufacturers.
Tesla’s Gigafactory in Nevada, as well as its foray into behind-the-meter energy storage through its Powerwall and Powerpack systems, has gotten much of the press attention.
But Mercedes has also launched a U.S. energy storage company making use of its automotive manufacturing capacity -- in fact, the battery plant it’s building in Tuscaloosa will be its fifth around the world. |
Believe it or not, Graham-Cassidy socializes the cost of health insurance | There are plenty of things wrong with the Graham-Cassidy-Heller-Johnson proposal to overhaul Obamacare (and Medicaid, while it’s at it), from its cockamamie approach to helping people not insured by their employers to its blithe indifference to the rising cost of medical care.
| http://www.latimes.com/opinion/opinion-la/la-ol-graham-cassidy-subsidies-20170921-story.html | 2017-09-22 09:31:44.610000 | Sen. Bill Cassidy (R-La.) speaks to the media about his proposal to repeal and replace Obamacare, accompanied by Sens. Lindsey Graham (R-S.C.), John Cornyn (R-Texas) and Senate Majority Leader Mitch McConnell (R-Ky.) on Capitol Hill on Tuesday.
There are plenty of things wrong with the Graham-Cassidy-Heller-Johnson proposal to overhaul Obamacare (and Medicaid, while it’s at it), from its cockamamie approach to helping people not insured by their employers to its blithe indifference to the rising cost of medical care.
But give sponsoring Sens. Lindsey Graham (R-S.C.), Bill Cassidy (R-La.), Dean Heller (R-Nev.) and Ron Johnson (R-Wis.) credit for doing something remarkable: They got even the most conservative of their Republican colleagues to agree to socialize more of the cost of health insurance.
Wait, they did what?
Unlike previous GOP proposals to “repeal and replace” Obamacare, Graham’s legislation would leave in place almost every new tax and tax increase the Affordable Care Act imposed, including those on high-income Americans, health insurers, tanning salons and drugmakers. Doing so would raise about $1.2 trillion over the next 10 years; the Graham-Cassidy proposal would put that money into block grants for states, replacing various subsidies in the ACA for health insurance and care for low-income Americans.
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Republicans and Democrats can, and will, disagree sharply over the wisdom of the change. But what’s being missed here is that Republicans are proposing to use a metric megaload of federal tax dollars to do the same thing Democrats did through the ACA: make health insurance more available and affordable. After all, under Graham-Cassidy, the block grant funding would have to be spent to help provide health insurance to high-cost individuals, or to help insurers cover losses (presumably from such individuals), or to help low-income residents obtain coverage and care.
Put another way, the Graham-Cassidy proposal would socialize some of the cost of healthcare for millions of Americans, to the tune of more than $1 trillion per decade.
Sen. Rand Paul (R-Ky.) has cited this spending as the reason why he’s adamantly opposed to the proposal. But no other Republican has; instead, a few GOP senators have complained that the bill may not provide enough money for their states, or that it has been force-marched through the Senate with no hearings or vetting.
It should be noted that this country already socializes a large percentage of healthcare costs through the tax exemption for employee insurance premiums as well as Medicare, Medicaid and other public health insurance programs. The Affordable Care Act pushed that percentage a bit higher; Graham-Cassidy would dial it back a little.
I suspect the proposal’s supporters don’t look at it as a way to perpetuate the transfer of wealth from taxpayers to insurance buyers (or, less directly, to insurance companies and healthcare providers). But that’s what they would be voting for.
And that’s something Democrats and Republicans could build on, should Graham-Cassidy fail to pass the Senate. Granted, it would require both sides to step out of their ideological bunkers. Democrats would have to accept the idea that Obamacare didn’t come up with the perfect solution to insuring people not covered by large employer plans — in fact, it piled too much cost on too few people. And Republicans would have to agree that the federal government can play a bigger role in helping Americans with healthcare costs that are too great for those of limited or even ordinary means to afford.
If the two sides can agree on those points, it shouldn’t take a herculean effort to come up with an approach to insuring the 20 million or so Americans in the non-group market that both sides can embrace. Because all of the sturm und drang about preserving or repealing Obamacare essentially comes down to this: How do we enable those people to be insured? Once both sides are willing to answer that question with federal tax dollars, it’s just a matter of figuring out how best to control the costs.
By supporting Graham-Cassidy, Republicans would be anteing up $1.2 trillion over the next 10 years to help bring coverage to folks in the non-group market, as well as to low-income Americans not eligible for Medicaid. That would be quite a step toward a bipartisan agreement, if only they recognized what they were doing.
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Twitter: @jcahealey |
Graham-Cassidy Has One Great Idea | The latest Republican stab at overhauling the Affordable Care Act manages to be both more timid and more sweeping than previous efforts to replace Obamacare. Known as Graham-Cassidy, it was written by a quartet of Republican senators led by Lindsey Graham of South Carolina and Bill Cassidy of Louisiana.
| https://www.nytimes.com/2017/09/20/opinion/graham-cassidy-health-care.html?rref=collection%2Fsectioncollection%2Fopinion&action=click&contentCollection=opinion®ion=rank&module=package&version=highlights&contentPlacement=1&pgtype=sectionfront | 2017-09-22 09:30:48.633000 | The idea of turning more power over to the states has long been advocated by conservatives, but there are compelling reasons for liberals to get behind devolving power from the federal government.
When Congress passed the Affordable Care Act in 2010, it left many of the details to the discretion of the Department of Health and Human Services, giving vast powers to the secretary to determine everything from fast-food menu labeling requirements to when individuals could purchase insurance. During the Obama years, the administration used its regulatory discretion — pushing and arguably exceeding the limits of the law — to prop up the president’s signature legislative accomplishment as the program ran into implementation problems.
When President Trump took office, he appointed Tom Price, a longtime foe of Obamacare during his time in Congress, to run H.H.S. In the past several months, liberals have shouted “sabotage” as they have witnessed Mr. Price take actions such as slashing Obamacare’s advertising budget, tweaking the rules on the types of plans insurers are allowed to offer and cutting in half — to six weeks — the program’s open enrollment period. Mr. Trump himself has created uncertainty over whether he will continue to authorize payments to insurers that congressional Republicans sued Mr. Obama over.
Any national health care system that assumes one party will control Washington for all eternity is doomed to fail. New Yorkers would have much less to fear about a Trump presidency if the president didn’t control agencies that set policies for the entire country.
From the perspective of somebody who wants to see genuine federalism in health care, Graham-Cassidy leaves a lot to be desired. Because it keeps many of Obamacare’s regulations on the books at the national level, it limits the amount of innovation that can occur at the state level. The fact that it keeps most of Obamacare’s taxes means that states preferring to take a more free market approach will still be paying for a big government footprint in other states. Under one scenario, for instance, Texans could be subsidizing single-payer health care in Vermont.
But the idea of giving states more control over their health care systems should survive no matter what happens with Graham-Cassidy. |
The G.O.P. Bill Forces States to Build Health Systems From Scratch. That’s Hard. | In 2003, health care policy makers in Massachusetts agreed that the state should build a system to expand coverage to its uninsured residents. It took four years before Romneycare was fully up and running.
| https://www.nytimes.com/2017/09/21/upshot/the-gop-bill-forces-states-to-build-health-systems-from-scratch-thats-hard.html?partner=rss&emc=rss | 2017-09-22 09:29:55.690000 | In 2003, health care policy makers in Massachusetts agreed that the state should build a system to expand coverage to its uninsured residents.
It took four years before Romneycare was fully up and running.
In between, politicians had to think hard about how they wanted the system to work: how money would be raised and spent, what benefits would be offered, whether and how markets should be used to distribute coverage, whether people who didn’t buy coverage should be penalized. They had to build a computer system to help people check their eligibility and understand their options. They had to recruit insurers to participate. And they needed to find uninsured residents and persuade them to enroll.
A new health care bill before the Senate would require all the states in the country to make a similar soup-to-nuts evaluation of how they’d like their health care systems to work, to build such a system and be ready to open their doors in substantially less time — just over two years. That may not be realistic.
“The answer is absolutely no,” said Jon Kingsdale, who ran Massachusetts Connector, the system that matched Massachusetts residents with health insurance, and is now a public health professor and a consultant. “That’s not enough time for most states to figure it out.” |
Latest Obamacare Repeal Effort Is Most Far-Reaching | For decades, Republicans have dreamed of taking some of the vast sums the federal government spends on health care entitlements and handing the money over to states to use as they saw best.
| https://www.nytimes.com/2017/09/21/health/graham-cassidy-obamacare-repeal-.html | 2017-09-22 09:28:50.980000 | “This is by far the most radical of any of the Republican health care bills that have been debated this year,” said Larry Levitt, a senior vice president with the nonpartisan Kaiser Family Foundation. “And the reason for that is that this would be the biggest devolution of federal money and responsibility to the states for anything, ever.”
The White House and Senate leaders are now in an intensive final push to repeal the Affordable Care Act by September 30. After that, under Senate rules, they will need 60 votes, which they acknowledge is an impossibility. Senator Graham said in a statement on Thursday that the legislation was gaining “momentum and support” because it would send “money and power back to the states, and closer to patients, to deliver quality health care.”
The legislation would turn over more than $1 trillion that would have been spent on the law known as Obamacare over the next seven years — everything from the funds for the expansion of Medicaid to the subsidies to help people buy private insurance — to states as “block grants” with very few strings attached. They would then use the money to set up their own health care programs. Congress would have to reauthorize the money after 2026 or it would go away.
“The decisions about individual mandates, mandated benefits, and all the other decisions the ACA moved to Washington are best made at the state level by governors who understand the unique needs of their states,” said Gov. Asa Hutchinson of Arkansas, a Republican. Arkansas expanded Medicaid under Obamacare, and would lose roughly $6 billion under the bill, but Governor Hutchinson supports the legislation nonetheless.
“Graham-Cassidy is putting federal spending on a budget,” he said. “That is the fiscal discipline the federal government and states both need to ensure the sustainability of Medicaid and other state health care programs.” |
Republicans Have a Bill to Repeal Obamacare. They Don't Know Exactly What It Will Do | Senate Republicans have just days to pass a bill that would repeal major chunksof the Affordable Care Act, scale back federal spending on health care and dramatically change health insurance in the United States.
| http://time.com/4951982/graham-cassidy-cbo-score-obamacare/ | 2017-09-22 09:27:27.280000 | Senate Republicans have just days to pass a bill that would repeal major chunks of the Affordable Care Act, scale back federal spending on health care and dramatically change health insurance in the United States.
But they don’t know exactly how it will work.
Named for cosponsors Sens. Lindsey Graham and Bill Cassidy, the Graham-Cassidy bill will not be scored by the nonpartisan Congressional Budget Office before the Senate faces an end-of-month deadline to pass it by a simple majority.
While the broad outlines of the bill are known, that means senators will have to make a decision to vote for or against the bill without knowing how many millions of Americans could lose insurance, how much money their state could gain or lose under it and what effects it might have on insurance premiums, according to their own scorekeeper.
Outside groups have made their own estimates, all of which say the bill will lead to millions fewer Americans having insurance. A recent report from the Center on Budget and Policy Priorities wagers that more than 32 million people could lose healthcare as a result of Graham-Cassidy, which could slash federal healthcare funding by nearly $300 billion over the next decade.
But for some Republicans, the details of the bill are not as important as the years-long promise they made to repeal Obamacare.
“You know, I could maybe give you 10 reasons why this bill shouldn’t be considered,” said Republican Sen. Chuck Grassley of Iowa. “But Republicans campaigned on this so often that you have a responsibility to carry out what you said in the campaign. That’s pretty much as much of a reason as the substance of the bill.”
Republican Sen. Pat Roberts of Kansas told Vox that the bill needed to be passed regardless of imperfections because of the problems of the Affordable Care Act.
“Look, we’re in the back seat of a convertible being driven by Thelma and Louise, and we’re headed toward the canyon,” he said. “That’s a movie that you’ve probably never seen. So we have to get out of the car, and you have to have a car to get into, and this is the only car there is.”
When the Affordable Care Act was being considered in 2010, then-Speaker Nancy Pelosi famously said that lawmakers would have to “pass the bill so that you can find out what is in it.” She meant that the “fog of controversy” over the famously tortuous legislative process behind the bill had clouded the actual benefits in it, but the quote was seized on by many conservatives over the years to criticize the Democratic law.
But the Affordable Care Act was debated after a rigorous congressional schedule that included hearings before multiple committees, changes to the bill designed to win Republican support and a painful month for Democrats of angry constituents arguing against the bill at town-hall meetings.
The Graham-Cassidy bill, by contrast, is the result of fast-tracked and largely backroom conversations between Senate Republicans. There will only be one day of Senate hearings on the bill next week. At a press conference this week, Senate Minority Leader denounced it as “a hastily constructed piece of legislation put together in back rooms by only one party.”
“It’s quite unprecedented, and it’s very, very bad process on a lot of levels,” Alice Rivlin, the founding director of the Congressional Budget Office, director of the Office Management and Budget under the Clinton Administration and a senior fellow at the Brookings Institution, told TIME. “To pass a major healthcare bill with the votes of only one party is a big mistake. They should wait for the CBO score. It’s bad PR, and it’s bad politics.”
The major impetus for the current push is a deadline to use a process known as reconciliation, which requires just a simple majority of 50 votes (with Vice President Mike Pence breaking the tie) to pass a bill. Earlier this month, the Senate parliamentarian set Sept. 30 as the deadline.
But earlier this week, the CBO issued a statement saying that it would only provide a “preliminary assessment” of Graham-Cassidy’s impact before the end of the month. Specific estimates of the bill’s impact on the deficit, the number of insured Americans, and the cost of insurance premiums would take “at least several weeks.”
“I would say it’s either never happened or it’s extraordinarily unusual for legislation to be considered without a full CBO score, particularly under reconciliation,” Frederick Isasi, executive director of Families USA, the nonprofit health advocacy organization, tells TIME. “Many Republicans pride themselves on being fiscally conservative, so it’s difficult to understand how they would be comfortable voting on sweeping legislation that will impact at least 90 million Americans without a full accounting from the CBO of all financial and coverage impacts.”
This hasn’t stopped Senate Republicans from moving ahead. Senate Majority Leader Mitch McConnell intends to “consider Graham-Cassidy on the floor next week,” his spokesman David Popp confirmed to TIME on Wednesday. When asked about the lack of a CBO score at a press conference, Senator Graham, the bill’s eponymous co-sponsor, deflected, saying only that “the CBO has told us that they’ll have a score for us, and it’ll be on the cash aspect of it, so we’ll have a chance to look at that.”
But it may yet stop the bill. Republicans can afford only two defections in the Senate to keep the bill from failing, and Sen. Rand Paul of Kentucky has already made it clear that he won’t vote for Graham-Cassidy. Three Republicans who voted against the last repeal attempt remain on the fence: Sens. John McCain of Arizona, Susan Collins of Maine and Lisa Murkowski of Alaska.
In his dramatic late-night speech against that attempt, McCain complained that the bill wasn’t going through the regular legislative process, and Collins has raised similar concerns this time around about Graham-Cassidy.
“I am still looking at it, but I have major reservations,” Collins told reporters this week. “We don’t have a CBO score.”
Contact us at [email protected]. |
Ted Baker brings ecommerce and payments tech in-store | British clothing retailer Ted Baker is piloting an ecommerce and payments approach to in-store shopping. The service enables staff to help customers shop for items that are unavailable in-store, and is aimed at delivering a full shopping experience regardless of store size. A PayPal Here card reader system will help to provide a faster, secure checkout, with purchases delivered or picked up through the click and collect service at Ted Baker stores. Developed in partnership with e-commerce consultancy Salmon, the system is being tested at five stores around London before being rolled out across the UK and US. | http://www.retail-systems.com/rs/Ted_Baker_Salmon_Mobile_Payments.php | 2017-09-22 09:26:22.430000 | British retailer Ted Baker has partnered with e-commerce consultancy Salmon to offer a new payment solution which allows customers to order in a more secure way and pay for products that are unavailable in-store.
The new service enables employees to help customers shop in a more flexible way and have those products delivered to home, work or via Click and Collect at Ted Baker stores.
Currently being piloted in five London locations – Westfield, St. Pancras, Regent Street, Covent Garden and Floral Street – the solution is due to be rolled out across all UK and US stores, helping more than a thousand Ted Baker’s employees.
Sales representatives will also be better empowered with the ability to help customers create new Ted Baker accounts to improve their in-store and online experiences, and to enable a quick, more secure checkout for orders, taking payments via PayPal Here card readers anywhere within the store.
Craig Smith, digital commerce director at Ted Baker, said: “We recently opened our store in St. Pancras with limited storage facilities, so we wanted a solution that ensured our customers could still have the full Ted Baker shopping experience, even in our smaller stores. We wanted a seamless way to sell products to customers that they couldn’t access in store. The solution needed to be slick so as not to jar our customers’ experiences, and was also user-friendly for our employees.”
Neil Stewart, CEO at Salmon, added: “At a time when customers are demanding convenience from retailers, we’re proud to be helping Ted Baker provide a solution for its customers that facilitates a seamless and integrated way of shopping.”
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Caregivers Draw Support By Mapping Their Relationships | Every time Jacque Pearson tried to devise a plan to move her 81-year-old dad, who has Alzheimer’s, from his home in Boise, Idaho, to hers in Denver, she felt stuck. Then, two weeks ago, she had a breakthrough.
| http://khn.org/news/caregivers-draw-support-by-mapping-their-relationships/ | 2017-09-22 09:22:10.427000 | DENVER — Every time Jacque Pearson tried to devise a plan to move her 81-year-old dad, who has Alzheimer’s, from his home in Boise, Idaho, to hers in Denver, she felt stuck. Then, two weeks ago, she had a breakthrough.
It happened at an AARP-sponsored session in which Pearson created a “CareMap” — a hand-drawn picture showing all the people she cares for as well as the people surrounding those individuals and her own sources of support.
On one side of the paper, Pearson sketched out her father’s situation. There were three friends from Alcoholics Anonymous and his longtime doctor — the people he relies on most. There were three sisters and two sons in Arizona, not very involved. And there she was, the primary caregiver, far, far away.
As she peered at the drawing later that evening, Pearson saw what she had to do. “I’m going to contact each of his Alcoholics Anonymous friends and his doctor and ask them to convince my father to come to Colorado,” she told me when I called a week later.
How could a quick sketch of stick figures (representing the people in her father’s life), triangles (representing his medical providers), arrows (representing relationships between people) and box-like houses (where she and her father live) have this kind of impact?
NAVIGATING AGING Navigating Aging focuses on medical issues and advice associated with aging and end-of-life care, helping America’s 45 million seniors and their families navigate the health care system. To contact Judith with a question or comment, click here. For more KHN coverage of aging, click here.
CareMaps are an intriguing new tool created by the Atlas of Caregiving, an ambitious project that hopes to gather comprehensive data about family caregivers. The project’s pilot study examined 14 families in the San Francisco Bay Area who wore miniature cameras and sensors, kept a log of their activities and participated in extensive in-person interviews.
One of the goals was to understand what Rajiv Mehta, the project’s founder, calls the “ecosystem of family caregiving, the relationships that surround caregivers and that shape their experiences.”
One family caregiver might be at odds with her siblings but have a close group of friends she can turn to for emotional support as she cares for a disabled husband, for example. Another might be divorced but have a son living at home who can help with practical responsibilities as he cares for his mother with Parkinson’s disease, who moved in a year ago. Yet another couple in their 60s, both struggling with serious illness, may rely primarily on their three children, all living nearby, but have few friends.
How could these webs of relationships — people who are caring for each other and who are cared for, in turn, by others — be portrayed? Interviewers started drawing them quickly as family members were speaking. Symbols were assigned to people, pets, health care professionals, facilities and households.
Over time, refinements were added. Bidirectional arrows, for example, could show support flowing between people in both directions and the amount of assistance being provided (multiple times a day, daily, weekly or occasionally). Instructions for drawing CareMaps — anyone can give it a try — are available on the Atlas of Caregiving website.
At conferences, Mehta displayed some CareMaps and was surprised by the interest they generated. Somehow, seeing these pictures helped social workers, psychologists and other professionals understand what caregivers were experiencing in a different way.
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In California, the Santa Barbara Foundation launched a series of caregiving workshops last year, using the CareMaps tool. Carol Levine, who directs the United Hospital Fund’s Families and Health Care Project and advises the Atlas of Caregiving, attended some of those sessions and was struck by how many participants seemed to have “aha moments.”
“There’s something visceral about making these pictures — it seems to open people’s vision to a broader view of what they were doing as caregivers,” she said.
Phylene Wiggins, director of the community caregiving initiative at the Santa Barbara Foundation, recalled leading a group at one of the workshops. “After people drew their CareMaps, we started going around the table and talking about their maps, and it was so heartbreaking,” she remembered. “One by one, each caregiver said ‘I am so alone.’ ‘I am so alone.’ ‘I am so alone.’” Encouraging those kinds of conversations and discovering ways to address that social isolation are among the foundation’s priorities, she said.
Cynthia McNulty, a social worker at Family Service Agency in Santa Barbara County, said her agency is using CareMaps in individual and group counseling sessions as a conversation opener. “Many of the people we work with, especially Latinos, don’t even acknowledge themselves as caregivers,” she said. “This is a useful way to shed light on the responsibilities they’ve taken on and needs that might not be met.”
“There’s no stigma attached: You’re just drawing a picture, not complaining,” she said.
AARP is testing CareMaps in six cities this year — Charleston, S.C.; Denver; Houston; Los Angeles; Phoenix; and Tulsa, Okla. It may roll out workshops more widely next year, depending on feedback. And the Atlas of Caregiving is preparing a web-based version, set to debut by year‘s end or early next year, Mehta confirmed.
In Denver, Alice Jordan, 69, is the primary caregiver for her partner, Vickie, 64, who has multiple sclerosis. When she drew her CareMap recently, Jordan saw that almost nobody was supporting Vickie other than her brother Bob, the only one of four siblings who checks in to see how she’s doing.
“MS isn’t a warm-and-fuzzy type of illness,” Jordan said, when I contacted her after attending one of the AARP sessions. “I’m going to call Bob and tell him how much we both appreciate him.”
For her part, Jordan initially felt that the circle of people who care for her would be empty. “When we started doing the diagram, it was like, ‘Bloody hell, I don’t have anybody,’” she said. But she found herself drawing Steve, a neighbor, who helps out when she goes out of town; Mary, a former colleague whom she walks with once a week; Onna, one of her sons whom she has lunch with regularly; Irene, a friend with Parkinson’s disease who’s always ready to talk; and her church, a source of comfort and connection.
“It made me realize I had more support than I thought,” Jordan said. And for that, she added, she’s very grateful.
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Facebook adds ways for marketers to reach offline audiences | Facebook allows advertisers to build custom audiences consisting of consumers who have made purchases offline, in stores or over the phone. These custom audiences allow businesses to re-engage customers with advertising after the point of purchase, using data collected by Facebook’s offline conversions tool. Advertisers can also use the tool to create "lookalike" audiences, consisting of consumers who share characteristics with their best customers. According Facebook, 90% of sales still take place in stores. | http://www.thedrum.com/news/2017/09/21/facebook-lets-brands-target-ads-based-offline-behavior | 2017-09-22 08:55:23.457000 | Facebook has introduced more ways to help marketers re-engage offline audiences.
According to a blog post, since launching last year, thousands of companies have used Facebook’s offline conversions tool to measure the impact their campaigns have on offline purchases. Now, these advertisers, which include Macy’s, KFC and Dick’s Sporting Goods, can build custom audiences from their offline conversion event sets comprised of consumers who have previously purchased offline.
Facebook said these new types of audiences allow brands to re-engage customers based on their interactions through offline channels like stores or call centers. Brands can also create lookalike audiences to find new consumers that share characteristics with their best customers that shop offline.
Advertisers also have a number of options to connect offline data to digital campaigns, including manual uploads, the Facebook Offline Conversions API and integrations from partners.
In addition, Facebook’s store visits reporting is an estimated metric based on data from consumers with location services enabled on their phones. This, in turn, allows businesses in more than a dozen countries to understand the impact of their ads on foot traffic.
“Facebook’s store visits reporting helped us show an increase in restaurant traffic and higher sales during our Facebook campaign,” said Steve Kelly, US director of media and digital at KFC, in a statement. “Some campaigns have shown a cost per store visit ranging from $0.50-$2.00. Understanding the impact of our Facebook ads on foot traffic is putting us ahead of the curve from others in the industry in terms of proving ROI.”
Advertisers that are eligible for store visits reporting can also create custom audiences of consumers who have recently visited their stores, which allows those brands to re-engage in-store audiences with more relevant campaigns, as well as to create lookalike audiences, Facebook said.
“Now with store visits custom audiences, we re-engaged customers who had visited one of our stores with a targeted Facebook ad at a profitable Omni-ROAS,” said Tom Hassett, vice president of media at Dick's Sporting Goods, in the blog post. “And, using lookalike audiences, created from people similar to those who visited our store, opened up a broader audience of new customers for us to reach, driving incremental foot traffic and sales.”
According to figures cited by Facebook, 90% of sales still take place in stores. And, the platform noted, nearly two-thirds of people are more likely to shop with a retailer that remembers their previous interactions and purchases across all channels.
"Businesses have long desired ways to understand how their digital ads can drive more offline value—where most sales happen. With these products, businesses can get more from digital by re-engaging their offline shoppers with more relevant and meaningful campaigns on Facebook,” added Gabriel Francis, product marketing manager at Facebook, in a statement.
The move makes good on a promise made by chief operating officer Sheryl Sandberg. In a recent interview with The Drum, she said: “The more we can look at ad spend and what actually happens at the end of the day in terms of sales, the better off we will be, and we’re increasingly focusing there. All those marketers really care about, is does it ring the cash register? |
Etihad Airways to offer automated credit card payments | Etihad Airways has partnered with PayFort, an online payment service provider in the Middle East, to offer fully automated credit card instalment plans to its customers. The initiative is aimed at low income travellers and families, enabling them to book without the need for an upfront payment, according to Justin Warby, vice president of digital strategy and innovation at Etihad. Seventeen of the UAE's largest banks will participate in the programme. | http://tourismbreakingnews.ae/etihad-the-first-to-offer-automated-credit-card-payments/ | 2017-09-22 08:38:08.567000 | Etihad Airways is the first airline in the region to offer fully-automated credit card installment plans in partnership with PayFort, an online payment service provider in the Arab region. The initiative allows Etihad Airways to offer consumers who book directly via Etihad.com that range from three to 60 months. 17 of the region’s leading banks are taking part in the programme.
Justin Warby, Vice President Digital Strategy and Innovation, Etihad Airways, said: “Etihad is committed to continually enhancing the travel experience by providing greater choice and flexibility to our guests while ensuring we make it as easy and secure as possible to transact through our direct channels, including Etihad.com. By partnering with PayFort we’re able to offer fully automated, best in class technology solutions provided by the industry leaders. We’re taking a global outlook and bringing best practice to the region. ”
With over 20 payment methods available on its website, Etihad Airways offers diverse payment solutions to meet both global and local needs. Warby said this initiative was designed to assist low to medium income travellers and families by empowering them with the ability to book travel without the burden of having to pay for it up front. Etihad Airways created its specialised Digital Transformation & Innovation team as an in-house research, development solution delivery programme to lead the airline’s digital transformation. Its mission is to turn Etihad Airways into the industry’s leading, integrated airline capable of harnessing emerging technologies and capabilities, big data and innovation to create a product and service offering unique to the individual passenger. |
BYD and Daimler to extend Denza-branded EV range in China | Chinese car manufacturer BYD and Germany’s Daimler plan to extend the range of electric vehicles (EVs) produced through their joint venture (JV), Shenzhen Denza. The Denza marque has not turned a profit since the launch of its debut and sole EV in 2014, however, in May, BYD announced plans for both parties to increase their investment in the JV, as China prepares to phase out production of fossil fuel-powered cars. For the seven months to end July, parent BYD led the Chinese market in EV and plug-in hybrids, delivering 46,855 units, outstripping its nearest rival by over 10,000 units. | http://www.autonews.com/article/20170922/COPY01/309229973/daimler-byd-plan-new-evs-for-china | 2017-09-22 08:19:21.630000 | Daimler and BYD plan to expand their cooperation to bring new EV models to China as the market seeks to phase out fossil-fuel powered vehicles.
BYD is discussing more investment in Shenzhen Denza New Energy Automobile, its 50:50 venture with Daimler, BYD's founder and chairman Wang Chuanfu told a group of reporters in the southern Chinese city on Thursday.
The two automakers are working together to add more models under the Denza brand, Wang said, without elaborating.
Currently the marque sells just one model, a five-seat sedan. Denza has been unprofitable since 2014, the year the model hit the market.
The EV maker, backed by Warren Buffett, is among companies preparing to benefit from a surge in demand for the non-polluting vehicles as China prepares to set a deadline to end production and sales of automobiles powered by gasoline and diesel. Besides policy incentives to promote sales of the cars, authorities will also study measures to ease curbs on foreign investment in new-energy vehicles, a commerce ministry spokesman said Thursday.
Daimler has partnered with BYD to produce and sell electric cars under the brand Denza since 2012. BYD said in May it will increase the 500-million-yuan ($76 million) investment in the joint venture, with a matching contribution from Daimler as well.
Like Daimler, automakers including Volkswagen Group have also partnered with local manufacturers, allowing them to put off setting up their own production lines from scratch.
A report on Wednesday said China is discussing a plan to allow foreign carmakers to set up wholly owned EV businesses in a major departure from current rules which demand that they work with a Chinese counterpart.
Leading sales
BYD led makers of greener vehicles in the first seven months of this year, delivering 46,855 electric and plug-in hybrid cars, according to the China Passenger Car Association. Beijing Electric Vehicle, the EV division of state-owned BAIC Motor, followed with 36,084 units. By comparison, General Motors has sold 738 cars that run on electricity since it introduced the Velite 5 plug-in hybrid model at the Shanghai auto show this April.
To help reduce reliance on fuel imports and curb emissions, China has been rolling out various incentives to help speed up adoption of electric vehicles.
Regulators are poised to unveil a policy that will require automakers to earn enough credits or buy them from competitors with a surplus under a new cap-and-trade program for fuel economy and emissions. An official said Sept. 9 that the government is working with regulators on a timetable to end sales of internal combustion engines.
France, the UK and the Netherlands are other countries that have announced similar moves.
Predicting China will likely order an end to sales of all polluting vehicles by 2030, Wang said BYD is considering supplying batteries to competitors as the industry faces production challenges during the switch in powertrains and also exploring joint investments. The company expects to announce the first contract by the end of the year, he said.
"We are talking to a lot of automakers on selling vehicle batteries and we have a big plan for that," said Wang. "I am sure it will be a big business for us in the future." |
Drugmakers face increasing litigation risk over opioids | Drugmakers that produce and sell opioid painkillers are facing increasing litigation pressure, with a Kentucky county joining the multi-county, multi-state effort to sue and recoup from these distributors. Now, 41 states are working together to investigate the drugmakers;they have issued subpoenas to Endo International, Janssen Pharmaceuticals, Teva Pharmaceuticals and Allergan, and additional subpoenas to Purdue Pharma. Documents have also been demanded from distribution firms AmerisourceBergen, Cardinal Health and McKesson. This comes as America's lethal prescription painkiller crisis is beginning to spread globally, with nations like the UK seeing similar patterns of addiction. | https://www.usnews.com/news/best-states/kentucky/articles/2017-09-21/kentucky-county-joins-lawsuit-targeting-opioid-distributors | 2017-09-22 07:41:25.003000 | HENDERSON, Ky. (AP) — A Kentucky county is joining a multi-county, multi-state effort to sue opioid distributors to recoup costs associated with the drug epidemic.
The Henderson County Fiscal Court voted unanimously Tuesday pursue litigation, after a presentation by attorney Jeff Gaddy of Levin, Papantonio, Thomas, Mitchell, Rafferty and Proctor, P.A., one of the firms spearheading the lawsuit.
Gaddy told The Gleaner the lawsuit targets wholesale distributors who may not have complied with regulations. Ohio, West Virginia and Alabama have joined the lawsuit.
Gaddy says around 20 lawsuits have been filed in Kentucky thus far.
The agreement between the Henderson fiscal court and attorneys says the county will pay the firms 30 percent of any award, but won't bear upfront costs or have to pay if there's no monetary recovery.
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Information from: The Gleaner, http://www.thegleaner.com/ |
California hit by biggest Hepatitis A outbreak in decades | California has been hit by its largest outbreak of Hepatitis A in decades, with nearly 450 people infected in San Diego in the past 10 months, of which 305 have been hospitalised and 16 have died from the illness. The outbreak is being spread from person to person "through contact with a fecally contaminated environment," say officials, particularly through people not washing their hands after going to the bathroom. Over 50% of the cases are among the homeless, who are faced with difficulties maintaining good hygiene, as public restrooms are rare, and few in the state are open 24 hours. | https://www.livescience.com/60486-hepatitis-a-outbreaks-california.html | 2017-09-22 07:31:23.623000 | Nearly 450 people in San Diego have become infected with hepatitis A over the last 10 months, making it the largest outbreak of the illness in California in decades.
On Tuesday (Sept. 19), officials in San Diego said the number of hepatitis cases in the city had climbed to 444, up from 421 last week. Of those infected, 305 have been hospitalized, and 16 have died. (For comparison, the city had just 22 cases of hepatitis A in 2015.)
Also this week, Los Angeles declared its own hepatitis outbreak, with 10 cases reported so far. And Santa Cruz County, in northern California, has reported 69 cases of the virus since April. The outbreaks in all three areas are occurring primarily among people who are homeless or who use illegal drugs. But what's causing hepatitis to spread in these areas? [27 Devastating Infectious Diseases]
In general, people become infected with hepatitis A through the "fecal-oral" route — that is, when small amounts of stool from an ill person contaminate objects, food or drinks that are then touched and ingested by another person, according to the Centers for Disease Control and Prevention (CDC).
San Diego officials say the outbreak there is being spread from person to person "through contact with a fecally contaminated environment." This type of contamination can occur when people with the illness don't properly wash their hands after going to the bathroom, according to the CDC.
More than 50 percent of hepatitis cases in San Diego are in homeless people, who are known to be at increased risk for hepatitis A, in part because homelessness presents challenges to keeping good hygiene, such as limited access to toilets and hand-washing facilities, according to a 2009 paper published in the journal Public Health Reports. Clusters of hepatitis A cases have also occurred in some facilities with shared restrooms, including jails and residential drug treatment facilities, San Diego officials said. The infection can also spread through the sharing of equipment related to illicit drug use, according to the Los Angeles County Department of Public Health.
On Sept. 1, San Diego declared a local public health emergency because of the hepatitis outbreak. The city has taken several steps to combat the outbreak, including vaccinating about 19,000 people against hepatitis A to prevent future illnesses, the San Diego Union-Tribune reported. Officials have also installed 40 hand-washing stations throughout the downtown area and have disinfected some city streets with bleach.
The strain of hepatitis involved in the San Diego outbreak is the same as the one in the Santa Cruz outbreak, which suggests the outbreaks are related, according to the County of San Diego's Public Health Services Division. (The strain involved in the LA outbreak has not been reported, but five of the LA cases involved people who visited either San Diego or Santa Cruz before their infection began, officials said.)
The hepatitis A virus can infect the liver and cause inflammation and damage to the organ, according to the National Institutes of Health (NIH). Symptoms can include dark-yellow urine, fever, joint pain, nausea and vomiting. People with the infection usually get better on their own without treatment, the NIH says. But in some cases, the infection can lead to liver failure, particularly in older adults or people who have other liver diseases.
In general, the hepatitis A vaccine is recommended for children at age 1; travelers to countries that have high rates of hepatitis A; users of illegal drugs; people with chronic liver diseases, such as hepatitis C; men who have sexual contact with other men; and people who work with animals infected with hepatitis A, according to the CDC.
Because of the outbreak in San Diego, officials there are also recommending that people get the vaccine if they are homeless, have close contact with the homeless or illicit drug users, or work in jobs where they handle food. It's also recommended that any person who wants to obtain immunity against hepatitis A get the vaccine, San Diego officials said.
Original article on Live Science. |
Claims and drone technology drive insurtech development | Technological advances around insurance claims and drone usage is driving the growth of insurtech, according to a report from CB Insights. Overall, insurtech as an industry is valued at $170bn globally, the report noted. It cited US-based claims start-up Snapsheet and drone-tech firm Airware as examples of technology companies that have raised significant capital to-date.
| http://www.startupdaily.net/2017/09/insurtech-expanding-industry-claim-drone-startups/ | 2017-09-22 07:14:56.700000 | Insurance technology or ‘InsurTech’ has been pinned as a growing industry thanks to claim and drone startups, although it is faced with fundamental challenges, according to the latest Insurance Tech Report from CB Insights which analysed the performance of the global insurtech sector across Q2.
InsurTech, a diversion of fintech focused around payment claims, reinsurance and insurance distribution, is valued at approximately US$170 billion (AU$215 billion) globally, the report said. Describing the sector as “booming with innovation”, it was found that funding in the sector that had increased by 248 percent since last quarter, reaching a total of US$985 million (AU$1.25 billion) across 64 investments.
Series A and seed rounds accounted for US$289 million (AU$365 million) of the total funding, the highest amount raised in a single quarter to date – 27 investments rounds were held by insurtech startups.
Since 2012, US insurtechs have held a sizeable footing on the investment market, having been responsible for 65 percent of total transactions. The recent quarter, however, displays a shift in this trend, with US companies responsible for 45 percent of total transactions.
This change reflects a growing interest in nations outside the US such as Australia in insuretech startups, according to the report, which linked the increase to the booming investment total and 248 percent step up from the previous quarter.
Startups working with new claims technology have emerged as a “new area of focus” for investors, according to the report, with businesses such as Snapsheet closing a $12 million Series D round during Q2, the largest investment for the startup to date.
Based in the US, Snapsheet is a self-service mobile app which allows users to gain an estimate of vehicle insurance claims by uploading a photo. Having raised $42.3 million total to date, Snapsheet aims to help insurers quickly sort through claims and increase customer satisfaction.
The report also highlighted drone startups as a key area driving growth in the insurtech industry. Startups such as Airware are using drones and backend platforms to gather “inspection” data for the purpose of insurance claims.
The US-based startup provides drones that businesses can fly to gather aerial imagery that is later analysed. While tailored to fulfil compliance and safety within mining and construction industries, the technology is also being popularised in insurance.
Airware, which has raised $116 million to date, recently closed a round of investment for an undisclosed amount.
Apps which disrupt roadside assistance are another key area of growth for insurtech, with startups such as HONK Technologies developing platforms which allow customers to access tire change, fuel, tow and lockout services on demand. Focusing on trucks, the businesses are currently servicing more than 55,000 vehicles worldwide.
The challenge, however, for existing insurers to grow the sector, is that the insurance model does not lend itself to frequent interactions with customers. Considering that the sale and claim payment are the only points of contact, the report explained that the accessing insurance is “not always a positive experience”.
According to the report, industry executives estimate that a customer who undertakes a personal auto claim could be up to 40 percent less likely to renew their policy, regardless of the outcome.
Source: Airwave. |
One fifth of central banks plan blockchain use by 2019 | One in five central banks say they will be utilising blockchain technology by 2019, according to a study from the Cambridge Centre for Alternative Finance. The study, which surveyed 25 central banks, notes 40% of respondents believe the technology will be commonplace within the next decade. The majority of respondents said they are researching blockchain due to a desire to launch their own cryptocurrency. | https://qz.com/1083712/one-in-five-central-banks-say-they-will-be-using-blockchain-tech-by-2019/ | 2017-09-22 07:09:45.407000 | Central banks are pretty bullish on blockchain technology, according to a new study by the Cambridge Centre for Alternative Finance. One in five central banks surveyed say they will deploy some form of blockchain tech within the next two years. Nearly 40% say the tech will be in use within a decade.
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The central banks were surveyed as part of the Global Blockchain Benchmarking Study. A group of 25 central banks were included in the study, some surveyed directly by the authors, and others included based on public statements about their blockchain policies.
The main reason central banks appear to be excited about the technology is so that they can harness it to issue their own cryptocurrencies. Over 80% of central banks say they’re researching the tech for that reason.
But what protocols, precisely, are central bankers tinkering with? It’s no surprise that so-called permissioned ledgers are high on the list, but permissionless protocols such as ethereum and bitcoin put in a notable showing.
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Of course, central bankers being central bankers, most won’t be drawn on how or when they’ll put the tech in place. Nearly half said they couldn’t predict a deployment timeframe for their blockchain initiatives. |
CCleaner malware targeted large tech and telecoms firms | The malware that attacked popular free software tool CCleaner, affecting 2.27 million users earlier this week, appears to have specifically targeted large technology and telecoms companies, and attempted to harvest intellectual property for possible commercial- or state-level espionage. Avast, which owns CCleaner, has not released the names of the targeted firms, however, it has said they were based in Japan, Taiwan, Germany, the US and the UK. Cisco Systems security team said Cisco was only one of many companies that hackers attempted to compromise, with Microsoft, Samsung, HTC, Sony, and Intel, among others, also potentially at risk. | http://www.zdnet.com/article/ccleaner-malware-operators-targeted-cisco-microsoft-samsung-and-more/ | 2017-09-22 06:52:03.947000 | File Photo
The threat actors behind the use of malware embedded in CCleaner have targeted large tech firms for their intellectual property.
According to the security team at Cisco Systems, Cisco was only one of many companies that hackers attempted to compromise. Microsoft, Samsung, HTC, Sony, and Intel, among others, were potentially also at risk.
The CCleaner breach, disclosed earlier this week, involved cyberattackers modifying legitimate versions of the software to contain malware. It is estimated that the tainted version of the popular Android and Windows PC cleaner has been downloaded roughly 2.27 million times, or by up to three percent of overall users.
Piriform, the makers of CCleaner, was snapped up by Avast in July this year. Avast believes the platform was targeted before the buyout was complete.
The affected version is 5.33.6162, designed for 32-bit Windows machines, released on August 15, as well as a version of CCleaner Cloud, released on August 24.
"The compromised version of CCleaner was released on August 15 and went undetected by any security company for four weeks, underscoring the sophistication of the attack," Avast said earlier this week. "In our view, it was a well-prepared operation and the fact that it didn't cause harm to users is a very good outcome."
The malware's command-and-control (C&C) server was taken down once the threat was detected; however, Cisco said late on Wednesday that this is not the end of the story.
According to the Cisco Talos security team, the C&C record shows a payload deployment list which includes a list of organizations "specifically targeted through delivery of a second-stage loader."
Cisco
Based on a review of the C&C's tracking database -- which covers only four days in September -- at least 20 victim machines from these companies were in line to be served secondary payloads.
"This would suggest a very focused actor after valuable intellectual property," the team says. "These new findings raise our level of concern about these events, as elements of our research point towards a possible unknown, sophisticated actor."
The C&C server contained PHP files responsible for handling communication between infected PCs and threat actors. The server would implement a series of checks in order to avoid the efforts of security researchers as well as gather information from infected systems, such as OS version, architecture, and whether admin rights were in play. This information was then stored in an SQL database.
If a system met the malware's requirements, the second payload would be deployed to create a backdoor and potentially pave the way for attackers to steal information and spy on the target companies.
"The web server also contains a second PHP file (init.php) that defines core variables and operations used," Cisco says. "Interestingly, this configuration specifies "PRC" as the time zone, which corresponds with People's Republic of China (PRC). It's important to note that this cannot be relied on for attribution."
No damage may have been detected as of yet, but the addition of these C&C instructions does suggest the breach is more serious than first believed. Targeting high-profile targets with a seemingly innocuous and innocent piece of software is a clever method, but seeking information from these groups suggests that the general public is not the true focus of the campaign.
While Avast has recommended that consumers update to a clean version of the software and remove the tainted version, Cisco has gone further in recommendations to companies which may have been involved.
"Those impacted by this supply chain attack should not simply remove the affected version of CCleaner or update to the latest version, but should restore from backups or reimage systems to ensure that they completely remove not only the backdoored version of CCleaner but also any other malware that may be resident on the system," the company said.
Update 11.56BST:
Avast has published additional findings on the situation.
In a blog post, the security firm said 20 machines in a total of eight companies were targeted, "but given that the logs were only collected for little over three days, the actual number of computers that received the 2nd stage payload was likely at least in the order of hundreds."
"This is a change from our previous statement, in which we said that to the best of our knowledge, the 2nd stage payload never delivered," Avast added.
In addition, the security firm says that the attack was a "typical" watering hole attack, which deployed malicious DLLs designed to inject malicious functionality into legitimate DLL systems.
Previous and related coverage |
UN hosts event to discuss global guidelines for drones | Representatives from NASA, Boeing, Amazon and General Electric are among the organisations set to discuss the blossoming drone industry during a two-day meeting in Montreal, sponsored by the UN's International Civil Aviation Organisation. While the talks represent initial discussions rather than a formal attempt to legislate, the meeting is an opportunity for the UN to advance its ambition to create a global drone registry.
| http://www.flyingmag.com/united-nations-considering-global-drone-guidelines | 2017-09-22 06:51:48.503000 | The aviation arm of the United Nations is sponsoring a two-day event in Montreal, where participants like Amazon Inc., the National Aeronautics and Space Administration, Boeing Co., General Electric Co., two leading industry trade associations, and researchers from China and Brazil will gather to meet about the booming drone industry.
“(The event) isn’t likely to produce specific rules or even a consensus around general principles. It’s not intended to prompt any country to immediately adopt new regulations,” the Wall Street Journal reported on Thursday.
“The default response in many countries is a blanket ban on flying,” which further frustrates both recreational and commercial users, Stephen Creamer, International Civil Aviation Organization’s top safety official, told the WSJ.
The UN is also backing ICAO’s proposal to create a global drone registry, which would create a “one-stop shop” for law enforcement to access all drone data and information, as opposed to multiple databases. |
Lower valuations are causing sales to fail, says Bank of England | An increased amount of transactions collapsed in the third quarter as surveyors lowered their valuations on properties, adding to concerns about falling prices. According to the Bank of England’s latest report on business conditions, based on feedback from 12 regional estate agents, the housing market has softened, especially in higher price brackets. The report also warned that although mortgages have become cheaper, they are only going to those with the best credit records. The report also found that millennials spend 23% of their income on housing compared with 17% in previous generations. It added: "Britain’s housing catastrophe has been 50 years in the making."
| http://www.propertyindustryeye.com/surveyors-down-valuing-is-causing-transactions-to-collapse-bank-of-england/ | 2017-09-22 05:57:02.263000 | Post navigation
Increasing numbers of transactions collapsed in the third quarter as surveyors down-valued properties, the Bank of England says.
The central bank’s latest summary of business conditions, based on feedback on the economy among 12 regional estate agents, said the housing market has softened, especially in higher price brackets.
The feedback from regional agents said: “There were more reports of transactions falling through due to surveyors down-valuing properties, reflecting concerns about falling prices.”
The report also warned that while mortgages have become cheaper, home loans are only going to those with the cleanest credit record.
It said: “Help to Buy was regarded as crucial to sustaining demand among first-time buyers. In the residential mortgage market, both lender and broker contacts reported that competition remained intense, driven by new market entrants and low funding costs.
“However, this competition was mainly concentrated on customers with the cleanest credit history. More customers were taking out fixed-rate deals; mortgages with longer terms, in many cases over 30 years, were becoming more popular.”
Meanwhile, a report by the Resolution Foundation think tank has highlighted the struggle millennials – those born in the early 1980s – face when getting on the property ladder compared with previous generations.
The research says millennials are four times more likely to rent and half as likely to own their own property than baby boomers – those born between 1946 and the mid-1960s – at their age. Millennials also spend on average 23% of their income on housing compared with 17% among the post-war generation.
The report warns that the younger generation also face higher housing costs, smaller properties and longer commutes.
Lindsay Judge, senior policy analyst at the Resolution Foundation, said: “Across the generations, many are worried about why today’s young adults have it so hard when finding a secure place to live.
“Britain’s housing catastrophe has been 50 years in the making, but while its effects are widespread it is millennials who are truly at the sharp end. For older generations, at least rising housing costs have been accompanied by improvements in the quality and security of housing, as more families have been able to own their home.
“The big danger today is that young people are having to settle for lower quality, longer commutes and less security in order to afford a place to live, despite spending a record share of their income on housing.
“It is vital that all political leaders recognise the scale of Britain’s housing crisis which is placing an ever greater strain on families’ living standards, so that their response is suitably radical.” |
Natwest economist predicts more renters than owners by 2024 | The number of UK households in rented accommodation is set to exceed that of those with a mortgage within eight years, according to NatWest Senior Economist Sebastian Burnside. The growing disparity between income and house prices is causing a boom in the rental sector, said Burnside, adding that lenders need to rethink the repossession process in light of this changing cultural dynamic, since home owners tend to be dealt with less harshly than landlords.
| http://www.propertyindustryeye.com/rise-and-rise-of-private-rental-sector-more-renting-than-mortgaged-households-within-eight-years/ | 2017-09-22 05:44:39.217000 | Post navigation
‘A major cultural shift in home ownership is on the horizon, with more private renters than mortgaged home owners within just a few years.
By 2025, the number of mortgaged households will be just under 6m, while the number of households in private rental accommodation will be a whisker more, at 6m.
The forecast comes from NatWest senior economist Sebastian Burnside, who says the cross-over will happen in late 2024.
He said: “We think it’s a fairly comfortable bet that by 2025 we will have more households renting privately than owning their homes with a mortgage, which is a big cultural shift for a country like the UK and something that’s being driven by those underlying demographics.”
There are already more people owning a home outright than people buying with a mortgage, and the number of outright home owners will continue to climb.
Since 2013, outright home ownership has been the biggest form of housing tenure in the UK. By 2024, about 9m households will own their homes outright.
The number of households in social rental accommodation will edge downwards, from 4m today to just under that figure.
Burnside said that fewer people are taking out mortgages because of the differences between their incomes and house prices.
However, baby boomers are increasingly able to pay off their mortgages.
Burnside said that as the private rented sector grows, lenders need to rethink their repossession strategies.
At the moment, lenders treat home owners who fall into mortgage arrears with more leniency than buy-to-let landlords unable to keep up payments. Defaulting landlords usually have their properties possessed within months.
However, Burnside said that possessing landlords’ properties swiftly was problematic for tenants with ties in the area, or children at school.
http://www.mortgageintroducer.com/private-renters-will-common-mortgaged-homeowners-2025/#.WcPIGkqGNj0 |
Duke Energy to invest $30m in two battery storage facilities | Duke Energy is to invest $30m into two of the biggest battery storage projects in North Carolina in a first for the regulated arm of the utility. The projects signal a culture shift in the region as battery prices continue to fall, indicating increased interest in battery storage among regulated utilities. “That fact that we’ve gone from Duke Energy using old coal-fired power plants in that region in the state, to a mix of gas turbines and energy storage I think is a good sign,” said Stephen Kalland, executive director at the North Carolina Clean Energy Technology Center. | https://www.greentechmedia.com/articles/read/duke-energy-invests-30-million-in-battery-storage | 2017-09-22 05:18:26.700000 | Duke Energy is investing $30 million into the two biggest battery storage projects in North Carolina -- a first for the regulated arm of the Charlotte-based utility.
“We feel the technology has improved, the price has come down, and we think there are some niche applications where battery use makes sense for the regulated utility,” said Duke spokesperson Randy Wheeless. “In a regulated environment, you have to justify these projects to a commission, and usually least cost is an overriding factor there.”
The projects may indicate new interest in storage among regulated utilities, as battery prices continue to fall.
Both of Duke’s projects -- a 9-megawatt project in Asheville and a 4-megawatt project in Hot Springs -- will use lithium-ion technology. While lithium prices are currently spiking, battery prices are bottoming out.
“It’s all about the economics,” said Stephen Kalland, executive director at the North Carolina Clean Energy Technology Center.
Duke said the Asheville storage project will provide real-time grid support services and the Hot Springs project will improve reliability for the community. Down the line, a solar facility may be added in Hot Springs as well.
According to Wheeless, the utility sees battery storage as an economic way to alleviate grid stress in rapidly-growing areas, or improve delivery in remote areas.
Western North Carolina, dotted by the Appalachians, hosts many remote communities where providing service can be more challenging. For example, Duke operates a remote communications tower in Great Smoky Mountains National Park. It runs on a microgrid with solar and a zinc-air battery, a more cost-effective solution than running poles and wires up a mountain.
“Western North Carolina is an ideal spot to use this technology to serve remote areas, or where extra resources are needed to help the existing energy infrastructure,” said Robert Sipes, vice president of Duke’s Western Carolinas Modernization project, in a statement.
Utility-scale storage is growing at a rapid rate. But it's still rare for regulated utilities. According to Ravi Manghani, director of energy storage at GTM Research, only a few dozen regulated utilities have deployed grid-scale storage.
Regulated utilities, excluding public utilities, so far have deployed 35 megawatts of storage capacity. Duke's 9-megawatt storage system will be the largest rate-based project.
“In that sense, it puts Duke in the top ranks,” said Manghani.
However, the $30 million for storage is a relatively small portion of the $1.1 billion the company is devoting to the Western Carolina Modernization project.
“They do have to be commended for investing in these assets,” said Manghani. “But I think from a much broader perspective, it’s going to be just one of the many assets they’re going to invest in.”
Duke joins utilities like Tucson Electric Power, Arizona Public Service, and Southern California Edison that are making storage more central to their services. Duke already has a 36-megawatt storage facility, the Notrees Battery Storage Project, connected to a wind farm in West Texas. That project was developed by Duke's unregulated arm.
“A lot of regulated utilities don’t have them in their territory now, but have seen the promise of battery storage technology and may be looking at projects of their own,” said Wheeless. “Seeing Duke move forward will cause them to look and see how it may benefit them.”
It's also a sign of a real culture shift in the region.
“That fact that we’ve gone from Duke Energy using old coal-fired power plants in that region in the state, to a mix of gas turbines and energy storage I think is a good sign,” said Kalland. “And probably a harbinger of things to come, not just from Duke, but from other utilities.”
Join GTM for a deep dive into the budding domestic energy storage market at the U.S. Energy Storage Summit 2017. Utilities, financiers, regulators, technology innovators, and storage practitioners will all come together for two full days of data-intensive presentations, analyst-led panel sessions with industry leaders, and extensive, high-level networking. |
Drone insurance showcases on-demand model | Data-collecting companies have teamed up with insurers to offer on-demand coverage for drones, potentially paving the way for similar products to be offered for other insurable assets. Firms like Flock make use of weather patterns, aeroplane movements and local topography to help insurers devise coverage that drone users can access on a flight-by-flight basis. The alternative to annual premiums could also be used to insure elements of the sharing economy, such as ride- or home-sharing. | https://www.economist.com/news/finance-and-economics/21729464-drone-insurance-showing-way-huge-volumes-data-make-real-time-insurance | 2017-09-21 18:37:57.987000 | EVEN at weddings or whale watches, the buzz of a drone is no longer a surprise. Drone photography is booming. Gartner, a consultancy, says some 174,000 drones will be sold for commercial use around the world this year, and 2.8m to consumers. It is easy to imagine a few might fall out of the sky, causing damage the pilot cannot hope to pay for: crushed wedding cakes, injured spectators and so on. Amid scores of near-misses, several incidents have already occurred. In 2014, for example, a drone filming a triathlon in Australia crashed on a competitor’s head.
Clearly, drone-users need insurance. Typically, risks are insured through the payment of an annual premium. Insure4drones, a British specialist, charges £738.86 ($1,000) to cover a DJI Phantom, a bestselling drone, for a year. From October Flock, a London startup, will offer insurance on a flight-by-flight basis, at the push of a button in an app, to any commercial drone-operator in Britain. Cover for amateur pilots will soon follow. Costs will be about £5 per hour of flight, according to Allianz, an underwriter.
Flock’s app relies on a wide range of data. Weather forecasts come from IBM, a computing giant which, having spent over $2bn on The Weather Company in 2015, now offers forecasts to within a few hundred metres, and over a period of minutes. Live information about nearby aircraft is provided by a software company called Snowflake, which tracks aeroplanes around the planet. Flock also considers local topography, such as proximity to churches, hospitals and schools, as well as roads and traffic levels. It also monitors the drone itself, gathering data as it flies to build a risk profile for that machine. All these numbers are crunched when a customer requests insurance through the app. As well as offering a quote, the app tells pilots how to reduce their risks.
Allianz then converts Flock’s data-driven risk scores into a price. The attraction for Allianz is acquiring customers cheaply. “Rather than humans sitting and writing business, the algorithm does it on the spot,” says Tom Chamberlain, who manages its aviation underwriting.
Conventional insurance works by pooling individual risks and then setting a price for that group—new drivers under 30, say. But that process can be much refined if the objects and people being insured can report to the insurer automatically, and if there is a wealth of data on the external environment. As an ever-growing number of sensors—in phones or watches, drones or cars—gather ever-greater volumes of data, more and more activities can be assessed for real-time risk (though in the absence of pooling, some risks may become prohibitively expensive to insure).
Flock is not alone. Verifly, a New York startup, competes with it in America. Root, a car insurer, offers drivers insurance based on their minute-to-minute behaviour behind the wheel. It even offers a discount to Tesla drivers if their car spends plenty of time in autonomous mode. Slice, a San Francisco startup, lets its customers insure their houses and cars for the time they are used on services such as Uber and Airbnb. Trov, also from San Francisco, insures personal possessions for short periods.
Flock’s chief executive, Ed Klinger, says that he eventually wants to insure all kinds of future autonomous activities, from taxi rides to rolling delivery pods. He argues that selling insurance through annual premiums is inflexible. It less easily takes advantage of the large volume of live data that can now help estimate the risk posed by a given activity at a given time. For instance, a passenger in an autonomous taxi may be at far lower risk if the trip takes place outside rush hour, or in weather conditions in which the car performs at its best. Firms that dispatch delivery drones might use Flock to calculate the risk for each flight automatically, depending on cargo and address.
The business model is in its infancy, but on-demand insurance seems bound to grow. In a world where consumers expect push-button convenience from their services, they will demand the same of the insurance those services rely on. |
Hong Kong, UK regulators team up for fintech oversight | Regulatory bodies in the UK and Hong Kong have signalled an intent to work together in supporting fintech innovation. The UK's Financial Conduct Authority (FCA) and Hong Kong Insurance Authority (IA) have signed a co-operative agreement, which both bodies say is aimed at allowing fintech start-ups to expand beyond their home base. | https://www.crowdfundinsider.com/2017/09/122120-insurtech-fca-hong-kong-insurance-authority-cooperate-fintech/ | 2017-09-21 17:18:04.113000 | The Financial Conduct Authority (FCA) has entered into a co-operation agreement with the Hong Kong Insurance Authority (IA) designed to enhance collaboration in supporting Fintech innovation. The FCA explains the agreement includes information sharing and mutual referrals of Fintech firms looking to enter into either market.
The principle role of the IA is to tegulate and supervise the insurance industry for the promotion of the general stability of the insurance industry and for the protection of existing and potential policy holders.
Christopher Woolard, Executive Director of Strategy and Competition at the FCA, said that by working together regulators can boost innovations in Fintech;
“We look forward to working closely with the IA to promote innovation and enhance synergy for both markets, which will in turn benefit our consumers and financial industry as a whole,” said Woolard.
John Leung, Chief Executive Officer of the IA, said the agreement would foster Fintech development globally and help Fintech firms expand beyond their home jurisdiction.
“The IA will consider signing similar cooperation agreements with insurance regulators in other jurisdictions,” added Leung.
The FCA has concluded similar agreements with the Hong Kong Monetary Authority and the Securities and Futures Commission, to provide a full spectrum of co-operation and assistance in Fintech innovation in the banking, securities and insurance sectors in both the UK and Hong Kong markets. The FCA has been at the forefront of establishing bilateral agreements around the world with the intent of aiding cooperation and promoting innovation in financial services.
[scribd id=359512481 key=key-gxF59ERxAObvfveElhMN mode=scroll] |
Zenefits changes tune on brokerage ambitions | Zenefits, a US-based workplace benefits provider, which previously positioned itself as a technology-driven brokerage platform, is re-positioning itself as a technology provider to insurance brokers. The company has had past issues, being investigated and later fined over insurance agent and broker training for personnel on its platform. Zenefits' first partner as a technology provider to brokers will be benefits provider OneDigital. | http://www.hrdive.com/news/zenefits-gets-out-of-the-brokerage-business-opts-to-collaborate-instead/505379/ | 2017-09-21 16:30:24.920000 | Dive Brief:
Zenefits is a turning a new page, getting out of the brokerage business and instead collaborating with brokers as a "backbone" technology provider, according to a release emailed to HR Dive.
The Zenefits Certified Broker Program's first partner is OneDigital, one of the nation's larger benefits companies. The partnership allows OneDigital to use Zenefits platform while giving Zenefits clients access to local brokers across the country. Zenefits also announced other partnerships, including other vendors and apps on their marketplace.
This move is the latest by the re-emergent tech company to recover and stabilize after the scandal that wracked the company in late 2015 and early 2016 over the licensing of brokers on the company's platform. " What we need to focus on is being a killer tech platform that is easy use and efficient as possible," Kevin Marasco, Zenefits chief marketing officer, told HR Dive.
Dive Insight:
Mike Sullivan, chief growth officer for OneDigital, told HR Dive he sees the partnership as a strong sign that the benefits tech field is reaching a stage of greater collaboration and consolidation — something that may make the field a bit easier for HR managers to navigate.
For those that have been watching Zenefits, the pivot makes sense. Zenefits' problems weren't with its technology platform, but with an aspect of the HR benefits field that is heavy in compliance and regulation. The company paid a $7 million fine in California for licensing and training violations after insurance regulators alleged employees at the firm sold insurance without licenses and used software to skip required training.
The entanglement between the benefits-side and technology-side is familiar to those that have been in the bentech space for some time.
"I think there’s a lot of HR tech companies that find themselves pulled into dealing with benefits, or dealing with tech. But almost across the board, whether it is HR tech or benefits, they tend to do one thing very well and other things they don’t do very well," Sullivan said. "A lot of firms are talking about one-stop-shopping. In reality, no one can do that."
Zenefit's goal is to become an HR tech platform akin to Salesforce that serves as the "backbone" other HR tech companies can partner with and integrate into, Marasco said. If anything, the company has learned over the past few years that they "don't have to do it all."
"A lot of people have approached this in silos, but we are trying to have a more people-focused approach and not a process-centric approach," Marasco said. "We want to create a seamless approach for people but still have the flexibility they need." |
ECB signals greater liquidity requirements for fintech banks | The European Central Bank (ECB) has indicated it may require fintech banks to hold additional capital buffers and greater liquidity when entering the European market. The concern is over the potential unrest these entities could pose to the European banking system. Six banking licenses have been granted to fintech banks in Europe this year. Many European centres are looking to attract fintech entities with the UK's impending exit from the European Union meaning many start-ups are looking for EU-based headquarters. | https://bankinnovation.net/2017/09/ecb-said-fintech-banks-may-need-to-hold-bigger-liquidity/ | 2017-09-21 16:28:51.020000 | “High-tech,” or fintech banks may be required to hold higher capital buffers and larger liquidity when entering Europe, the European Central Bank said in draft licensing guidelines today.
This is to counter some of the risk these banks might bring into already mature financial markets (risks that are somewhat more unique than those presented by traditional banks), the ECB said.
As fintech grows around the globe, and factors such as the Brexit send banks looking for additional headquarters, many European countries are seeking to draw in these new companies.
The ECB has granted six banking licenses for fintechs this year, with another two applications still pending. This license is unnecessary for fintechs who don’t want to assume that traditional duty of banking, collecting deposits.
Aside from bigger capital buffers, fintech banks will also be required to demonstrate “IT competence” to the ECB. Fintech banks could also be asked to come up with a plan to fold themselves down in an “orderly” manner, as reported by the NY Times.
Read more at Reuters and the NY Times. |
Insurer told it had duty to defend recycler in pollution case | Westfield Insurance has asked an Indiana federal judge to reject the summary judgement by neighbours of the VIM recycling plant that calls for the insurer to contribute to the more than $50m judgement as a result of their class action suit over pollution. The neighbours argued that Westfield broke its contract with VIM when it failed to defend the company from their suit. Westfield however argued that a prior court ruling had relieved the insurer of its duty to VIM, and that the neighbours had no right to claim breach of contract that they were not a party to. | https://www.law360.com/insurance/articles/962853 | 2017-09-21 16:10:47.967000 | By Rick Archer (September 12, 2017, 4:34 PM EDT) -- Westfield Insurance Co. asked an Indiana federal judge Monday to reject a summary judgment motion from the neighbors of a recycling plant who are seeking the insurer's contribution to a more than $50 million judgment in their class action over pollution, saying that they have no grounds to block its policy defense....
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University of London teams up with Coursera to launch VR courses | Online course provider Coursera has partnered with the University of London to launch a series of virtual reality (VR) courses. The courses were developed by Dr Sylvia Pan and Dr Marco Gillies of Goldsmiths, University of London, who collectively share 25 years’ experience working in some of the world’s leading VR labs. “The development of Virtual Reality courses is pivotal to cementing the role the technology will play in everyday life and across enterprises”, said Dr Pan.
| http://www.dqchannels.com/coursera-and-the-university-of-london-launch-a-series-of-virtual-reality-courses/ | 2017-09-21 15:52:36.943000 | Coursera launched its first series of courses on Virtual Reality developed by the University of London.
The Virtual Reality Specialisation, comprising five course modules, has been developed by Dr Sylvia Pan and Dr Marco Gillies from Goldsmiths, University of London, based on a combined 25 years’ experience in some of the world’s most prominent Virtual Reality research labs.
Their expertise in Virtual Reality centres on the generation of interactiveand engaging virtual characters, one of the focus areas in the new Specialisation they teach on Coursera.
“Many of the mistakes made by Virtual Reality content creators come from not understanding the psychology of how VR works and what it means for how we create content, which is an important feature of this Specialisation,” said Dr Marco Gillies “In Virtual Reality users need to physically interact so they feel present in the surrounding environment. This means other characters must respond in the same way they would in the real world. These courses combine theory – the basic psychology of how VR works – with practical production skills. All the time learners are doing the practical work, they are also having to think about the psychology behind it.”
“Another important part of this Specialisation is Social VR. Social interactions in Virtual Reality are such a powerful experience; Users are sharing the space with someone who is life size, so the body language works in a way it doesn’t on a regular screen.”
Learners in this Specialisation will get hands-on experience using many of the leading technology tools for Virtual Reality content development, and in particular the world leading game development project Unity.
“The potential for Virtual Reality to change the way we work, learn, and play is significant, but we need more people educated in VR technologies and design to get there,” said Jessica Lindl, Unity’s Global Head of Education. “This series of courses from the University of London is a great example of a credential that can really help anyone interested in applying Virtual Reality in the work that they do.”
Dr Sylvia Pan, Lecturer in Graphics at Goldsmiths, University of London, said, “The launch of the Virtual Reality Specialisation presents a real opportunity to use online learning to grow the number of people equipped with the skills required to become VR content creators. Learners will take the skills developed in each of the preceding courses and put these into practice to develop their own Virtual Reality game.”
“The development of Virtual Reality courses is pivotal to cementing the role the technology will play in everyday life and across enterprises. The creative industry has naturally become the first sector to integrate Virtual Reality. However, the potential applications range across many industries, including healthcare, engineering, online collaboration, and more. The medium of Virtual Reality is developing rapidly and those making content now are creating the fundamentals of the technology. We are really excited that our learners will be able to contribute to the future of Virtual Reality.” |
Insurance firm has data on 880 million Chinese users | A Chinese insurance company claims to have collected data from 880 million users in China. Ping An Insurance Company said it can use five technologies - biological recognition, big data and risk management, blockchain, artificial intelligence, and cloud technology - to assess customer risk profiles, which could help in product matching. The firm also intends to research micro-expression recognition, which could allow it to better assess a customer's honesty. | http://en.people.cn/n3/2017/0921/c90000-9272201.html | 2017-09-21 15:19:46.960000 | Insurance company says investors who inflate income can be identified through new technologies
(File photo of Sina.com.cn)
Investors who inflate their income can be identified through new technologies, said Yang Jun, deputy chief risk officer of the Ping An Insurance (Group) Company of China, Ltd., at a conference on Sept. 20, Thepaper.cn reported.
A senior executive of the company said that they can help financial institutions identify eligible investors using five technologies: biological recognition, big data and risk management, block chain, artificial intelligence, and cloud technology, as they have obtained data on 880 million Chinese users so far.
The new technologies can help match product risks with investors’ risk tolerance, Yang noted.
Chief product officer of the company, Ou Haiying, explained that the company can judge the credit line of customers based on collected data ranging from their ages, income levels, genders, and telephone expenses.
He added that the company is currently focused on research into intelligent cognition. Since biological recognition technology like fingerprint identification and facial recognition is likely to be broken, the company will try to integrate voiceprint recognition with facial recognition and identity information.
As for the next step, the company will be committed to doing research on micro expressions as a way to help financial institutions judge customers’ honesty. And in the future, it will be likely delve into biometric recognition technologies like vein recognition and iris recognition, according to Ou. |
AMD and Tesla to co-develop processors for self-driving car | AMD-owned semiconductor manufacturer GlobalFoundries is rumoured to be working with Tesla, following comments made by CEO Sanjay Jha at a recent conference in Santa Clara. Jim Keller, former chipmaker at AMD, was also spotted at Tesla recently, sparking speculation. The partnership would alleviate Tesla's current reliance on Nvidia GPUs in its vehicles, allowing it to reduce costs, which in turn could help the firm meet its deadline of producing entirely self-driving cars by 2019.
| http://uk.pcmag.com/news/91265/report-tesla-amd-developing-self-driving-car-ai-chip | 2017-09-21 14:35:36.147000 | Telsa is reportedly developing its own AI chip for automated cars with AMD.
Sanjay Jha, CEO of GlobalFoundries, a spin-off of AMD, spilled the beans at its conference in Santa Clara, California, CNBC reports. GlobalFoundries later said Jha didn't mean to explicitly name Tesla as a partner, but was instead pointing to Tesla as an "example" of a company working with chipmakers.
But the presence of Jim Keller—former chip designer for Apple, AMD, and Honda—at Tesla has fueled speculation that Tesla and GlobalFoundries are indeed working together. A source for CNBC adds that Tesla has received samples of the first implementation of its AI processor and is running tests now.
Tesla's current vehicles use Nvidia GPUs to power its Autopilot self-driving system. By making its own chips, Tesla would be able control costs, something it will need to do to meet its CEO-imposed deadline of fully automated cars by 2019.
Fully automated cars that match up to the Level 5 standard—i.e. no human input required to drive it—will need a lot of computing power in order to run cameras, spatial sensors, and mapping processes. And if they're going to be rolling off of the production lines at scale, they're going to have to be cheap, too.
In February, GlobalFoundries VP of IoT Rajeev Rajan said his company's 22nm FDX process was instrumental in delivering the world's first insulator for an Advanced Driver Assistance Systems (ADAS) SoC, capable of handling "360-degree top view, road-sign recognition, lane departure warning, driver distraction warning, blind spot detection, surround vision, flicker mitigation for digital mirroring, pedestrian detection, cruise control and emergency braking."
While ADAS SoC's are not new, the key thing here is the costs savings. At CES 2017, Alain Mutricy, senior vice president for product management at GlobalFoundries, said the 22nm FDX process delivers similar performance to an advanced 14nm FinFET non-planar transistor at the cost of a more basic 28nm planar. |
Brigham Young team uses Wikipedia hack to give robots context | A student team from Brigham Young University has used Wikipedia to teach an artificial intelligence (AI) to understand linguistic context. AI is very effective when operating in the environments it was trained in, but performs poorly in unstructured and unfamiliar situations, since it lacks a common-sense understanding of how objects and ideas relate to one another. The team found that Wikipedia was a very effective tool for teaching an AI how words were related, which improved the machine's ability to decipher its surroundings. | https://techxplore.com/news/2017-09-wikipedia-ai-context-clues.html | 2017-09-21 14:13:16.683000 | Daniel Ricks, David Wingate, Nancy Fulda and Ben Murdoch. Credit: Tabitha Sumsion/BYU
Walk into a room, see a chair, and your brain will tell you that you can sit in it, tip it over or lift it up, but you wouldn't even consider drinking it, promoting it or unlocking it. As humans, explains Brigham Young University computer science professor David Wingate, we know intuitively that certain verbs pair naturally with certain nouns, and we also know that most verbs don't make sense when paired with random nouns.
"Consider the monitor on your desk: you can look at it, you can turn it on, you can even pick it up or throw it, but you cannot impeach it, transpose it, justify it or correct it," said Wingate. "You can dethrone a king or worship him or obey him, but you cannot unlock him or calendar him or harvest him."
That intuition, for the most part, doesn't exist with computer artificial intelligence agents, who are good at identifying objects but less so in knowing what to do with them. So Wingate and three student researchers, including lead author Nancy Fulda, developed a method for teaching agents about affordances—the set of actions that can be done with an object. They recently presented their work at the International Joint Conference on Artificial Intelligence.
The team's ambitious end goal is to help build androids that can walk around the world and interact with it intelligently. Such an android "has incredible potential to do good, to help people," said Fulda, who is finishing her Ph.D. in computer science. An example she gives is elderly care: a robot who is told to "get me my glasses" could figure out what glasses look like, where they're likely to be, how heavy they are, how best to lift them and how to get them to the person requesting them.
As it stands right now, explains BYU computer science undergrad and research co-author Ben Murdoch, there are plenty of artificial intelligence agents who can identify what they're looking at, but they can't go beyond the ID: they might know they're looking at a phone but don't necessarily know what a phone is good for.
"When machine learning researchers turn robots or artificially intelligent agents loose in unstructured environments, they try all kinds of crazy stuff," said Murdoch. "The common-sense understanding of what you can do with objects is utterly missing, and we end up with robots who will spend thousands of hours trying to eat the table."
Because the hand-coding needed to help an agent understand which verbs make sense with which nouns would be a laborious, slow-moving process, BYU's research team instead found a way to put linear algebra and Wikipedia to use. Understanding that Wikipedia offers a vast corpus of mostly up-to-date language use, they downloaded it, ran it through a previously established algorithm that looks at words in their contexts, "and voila! The computer is equipped with common-sense knowledge about things that make sense," said Wingate, who recently received a National Science Foundation Career Award to help fund his artificial intelligence work.
For this project, the team tested their method in a series of text-based adventure games, which allow a player and agent to have back and forth text interactions, with the agent offering a situation and the player responding with a written phrase. Their method improved the computer's performance on 12 out of 16 games.
Even with help from Wikipedia, the team's agent makes mistakes with its language use. But he's made progress: unlike he tried to do in one of their early games, "he doesn't bulldoze Santa," said Fulda. "I love it when the agent does something that surprises me in a good way. I'm like, it did it: it figured it out all by itself. It's kind of like watching your child take their first steps."
There's plenty of work still to be done before reaching the team's end goal of having a functioning android, said co-author and BYU computer science master's student Daniel Ricks. "But it's really exciting to see the progress we've made." |
Regus Dutch co-working provider Spaces leases entire tower in Hong Kong | Flexible workplace provider Spaces has agreed to rent the entire 77,000 sq ft Sun House tower in Hong Kong’s Central, in the business district's biggest leasing transaction in terms of square footage so far this year. The terms of the deal were not disclosed. The deal is part of Amsterdam-based Spaces' broader push into the Asia-Pacific market, after opening in Tokyo, Nagoya, Singapore, Chennai and Shanghai. Sun House is undergoing renovation and is set to open in mid-2018. The Hong Kong market is seen as having strong growth potential: it has 30 co-working spaces, compared with 200 in Shanghai and Beijing.
| http://www.scmp.com/property/hong-kong-china/article/2111549/co-working-office-firm-spaces-signs-largest-rental-deal | 2017-09-21 13:50:16.317000 | The Amsterdam-based company has leased Sun House in Connaught Road, Central, as demand for shared office space is seen picking up in the city and as mainland Chinese firms scale back their investments in Hong Kong offices |
China's giant firms tap into booming online fresh food market | The Chinese market for fresh food deliveries is set to triple in size between 2016 and 2018, but the lack of development in China's cold-chain logistics infrastructure means that only online delivery giants like JD.com and Alibaba will be able to take advantage. Online deliveries currently make up just 2% of China's total fresh food industry, compared to 40% for clothes and electronics. Alibaba recently invested $300m in companies and infrastructure, to allow for 24/7 deliveries across more than 700 cities.
| http://www.scmp.com/tech/china-tech/article/2112233/cherries-and-shrimps-among-weapons-jdcoms-push-chinas-booming-market | 2017-09-21 13:17:10.177000 | The e-commerce giant plans to expand its cold-storage and logistics sites and source a wider variety of food from around the world as it seeks a share of a market that could grow to almost US$36 billion next year |
General Atomics’ military drone contract modified by $27m | Californian drone manufacturer General Atomics Aeronautical Systems has been awarded a $27m modification to its contract to provide support services for the Gray Eagle unmanned military aircraft programme. The craft is an offshoot of the Predator drone, used for intelligence, reconnaissance and strike missions. It can operate at heights of up to 29,000 ft and remain in the air for up to 25 hours. The Gray Eagle can carry four laser-guided missiles, along with infrared and electro-optical cameras. | https://www.upi.com/Defense-News/2017/09/21/General-Atomics-wins-27-million-contract-for-Grey-Eagle-drone-support/3341506002556/ | 2017-09-21 11:32:29.663000 | Mq-1 Predator drone in flight over Creech Air Force Base, Nev. The Gray Eagle is a updated version of the platform. Photo courtesy of the U.S. Air Force
Sept. 21 (UPI) -- General Atomics Aeronautical Systems has received a $27 million modification to an existing contract for service support to the Gray Eagle unmanned aerial system program. The work will be conducted in Poway, Calif., and will run through March 17, 2019. Advertisement
The Gray Eagle is a derivative of the Predator drone designed for intelligence, surveillance, reconnaissance and strike missions. It has a flight endurance of over 25 hours and can operate as high as 29,000 feet.
It has a maximum payload capacity of 1,075 pounds. It is capable of mounting electro-optical and infrared cameras for target detection and can mount up to four Hellfire laser-guided missiles. It can carry its own laser designator for targeting of its own ordnance or for other platforms.
The Gray Eagle as a automatic take-off and landing system that enables it to launch and land without any direct control from operators. It can use any standard U.S. military fuel to ease logistical burdens. |
Baidu takes on Google with $1.5bn fund for self-driving projects | Chinese internet company Baidu is investing $1.5bn in over 100 autonomous vehicle projects over the next three years, as it seeks to rival companies such as car manufacturer Tesla and Waymo, Alphabet's self-driving car subsidiary. Baidu is seeking to diversify its business after Chinese authorities cracked down on its online advertising activities and it launched an open-source autonomous driving software platform called Apollo in July. It has also set up the Apollo Fund to develop the technology in partnership with the investment arm of the Hubei provincial government.
| https://phys.org/news/2017-09-baidu-bln-fund-autonomous.html?utm_source=menu&utm_medium=link&utm_campaign=item-menu | 2017-09-21 11:17:34.833000 | This photo taken on April 21, 2016 shows a woman walking past the Baidu booth at the China (ShangHai) International Technology Fair in Shanghai
Chinese internet giant Baidu on Thursday announced a $1.5 billion investment in autonomous driving projects over the next three years, as it seeks to diversify its portfolio and compete with rivals such as Google.
Over the next three years, the "Apollo Fund" will invest 10 billion yuan ($1.5 billion) in over 100 autonomous driving projects, the company said in a press release.
Baidu's search engine dominates the Chinese internet, and online ads are a key revenue stream.
But since crackdown by authorities on its online advertising business after a much-publicized scandal last year over the promotion of a fake medical treatment, "China's Google" is seeking to focus on artificial intelligence, investing heavily in the sector.
Baidu hopes to be the first to develop a vehicle capable of driving itself via powerful software and sensors.
The technological coup would help the Chinese firm compete with Google parent company Alphabet and Waymo, its subsidiary specializing in self-driving cars, as well as American car manufacturer Tesla.
Baidu launched an initial version of an open-source autonomous driving platform known as "Apollo" in July.
At the time, celebrity CEO Robin Li took one of the semi-autonomous vehicles for a joy-ride on a Beijing highway, livestreaming his trip to a packed auditorium of developers and calling the ride "very smooth."
On Thursday, Baidu announced a new version of the platform, "Apollo 1.5," which enables cars to "perform autonomous driving capabilities in designated lanes, perfectly recognizing obstacles and passengers and making optimal driving decisions even at night."
"Apollo" has already gathered 70 partners both in China and abroad, it added.
Baidu has previously tested its cars close to its campus in Beijing's northwest without incident, and is working with China's government to develop rules for self-driving cars, which currently exist in a legal grey area.
The "Apollo Fund" is jointly established by the software giant and the Yangtze River Industry Fund, an investment program run by the Hubei provincial government.
© 2017 AFP |
Tech firms pay 50% less tax than traditional competitors: EU | Technology companies pay less than half of the tax of traditional rivals, according to a report by the European Commission. The regulator is currently considering options for increasing the amount of tax paid by companies such as Amazon and Google to national governments. An international digital business pays an average tax rate of 10.1% in the European Union (EU), compared to a rate of 23.2% for traditional firms. A French proposal to tax tech firms on turnover rather than profits recently won support from 10 EU member countries, including Germany, Italy and Spain. | https://www.theguardian.com/business/2017/sep/21/tech-firms-tax-eu-turnover-google-amazon-apple | 2017-09-21 11:16:44.313000 | The EU is pushing ahead with plans to rewrite tax rules for technology companies, aimed at increasing governments’ take from the likes of Google, Facebook and Amazon.
The European commission is looking at ways to capture tax from companies that may have no offices, shops or other physical presence in a country, but are accruing profits through large numbers of online users or customers.
A report published by the commission on Thursday said technology companies paid less than half the tax of bricks-and-mortar businesses.
A digital business with international operations typically pays a 10.1% tax rate in the EU, compared with a 23.2% rate levied on traditional companies, said the report.
In reality, many technology companies pay far less than their high street rivals. Amazon’s corporation tax bill in the UK is 11 times smaller than that of British bookstores, a recent study found. In Ireland, the European commission concluded that Apple paid 0.005% to Irish tax authorities in 2014, far below the corporation tax rate of 12.5%. Apple continues to fight the ruling.
The commission published the report to shed light on the gap, with momentum building for action after France seized the initiative with a proposal to tax technology companies on turnover, rather than a conventional corporation tax on profits.
The French plan has won support from 10 EU member states, including Germany, Italy and Spain, but commission policymakers are uneasy about departing from the convention of taxing profits. EU officials think taxing turnover may not work for all technology companies, although they are not ruling it out, especially as a stopgap measure.
“A tax on all untaxed or insufficiently taxed income generated from all internet-based business activities” is listed as a possible short-term option in the paper. As a long-term answer, the commission is looking at revising the rules on permanent establishment, so businesses could be taxed in countries even if they have no offices, warehouses or shops there.
Pierre Moscovici, the European commissioner in charge of tax policy, said the commission’s first choice was a common corporate tax base for companies. Aimed at introducing a common set of tax rules, but not rates, the CCTB is a longstanding tax harmonisation policy that has been blocked by hostile member states, including the UK, since 2007.
“It’s the commission’s preferred solution,” he said. “The digital presence of companies could be included to solve once and for all the question of digital taxation.”
Moscovici said all options were on the table and called on EU member states to find “a consensus on the most fair, efficient and permanent solution”.
The UK’s impending departure from the EU in 2019 could make it easier to agree common tax measures. However, Britain was never alone in its opposition, as Ireland also did not support the plans.
Although the UK has a say on the legislative proposals on the table, Moscovici pointedly excluded Britain in his statement.
“This is an issue on which we have to advance as 27 if we want to be effective,” he said. “At all costs, we must avoid creating digital havens on one side where taxation is more attractive, and administrative nightmares on the other for European companies that want to grow in the single market.”
Taxing tech companies is on the agenda of an EU leaders’ summit devoted to the digital economy in Tallinn on 29 September.
Before publishing legal proposals, the EU wants to see how far the rest of the world will go. Officials are awaiting a report in spring 2018 from the Organisation for Economic Co-operation and Development (OECD), the Paris-based body that is co-ordinating global efforts against tax avoidance. EU officials stress they are prepared to act alone. “The global answer is the best,” the European commission vice-president Valdis Dombrovskis said. “However, the EU must be prepared to act in the absence of global progress.”
Yet the French idea of taxing revenues seems unlikely to become the EU’s preferred option.
EU tax laws are agreed by unanimity and several countries, including Luxembourg, Estonia and Denmark, have already raised doubts. The OECD’s tax director, Pascal Saint-Amans, recently told the French parliament that taxes on revenue were “daft”.
But agreeing any new rules to capture more tax revenue from tech companies is fraught with complexity. Officials point to the fact that there is no typical digital company, and most companies use the internet to a greater or lesser degree. |
Online courses require more preparation than in-person teaching | It takes longer for academics to prepare for online courses than it does for traditional teaching, according to an Australian study. The research was conducted by Australia's National Tertiary Education Union and researchers from the University of Tasmania, and is based on the responses of over 2,000 academics. It found they took an average of 10 hours to prepare an online lecture and six hours for an online tutorial, while the equivalent timings for in-person teaching were eight hours and five hours. The authors said the finding has significant implications for assessing the working hours of teaching staff in Australia. | https://www.timeshighereducation.com/news/online-courses-more-time-consuming-prepare-study-says | 2017-09-21 11:05:15.517000 | Online courses are more time-consuming for academics to prepare for than traditional teaching, according to an Australian study.
Analysing the responses of just over 2,000 academics to a survey conducted by the National Tertiary Education Union, John Kenny and Andrew Fluck from the University of Tasmania found that it took academics 10 hours to plan an hour’s lecture for online students compared with eight hours for a traditional hour-long lecture.
It took six hours to plan an online tutorial, as opposed to five hours for an in-person one, and 100 hours to plan an entirely new unit for online students compared with 96 hours for a course delivered on campus.
It also took significantly longer to substantially review or update teaching materials for online courses, while student consultation and assessment moderation for online students was more time-consuming, says the study, published in the Journal of Higher Education Policy and Management.
Dr Kenny, a senior lecturer in science education at Tasmania, told Times Higher Education that the results exploded the myth that online education – a growing area of delivery – was less time-consuming than on-campus courses.
“In our experience...the prevailing pressure from administrators is that online students take less staff time to teach, [but] staff indicate that the materials take longer to prepare,” Dr Kenny said.
Interestingly, the study found no evidence that it took more experienced academics longer to complete tasks related to online teaching compared with younger, more tech-savvy scholars.
Dr Kenny and Dr Fluck argue that their findings could have significant implications for the caps on annual academic working hours implemented by Australian universities, since they believe that the current workload models do not take into account the extra hours that it takes to prepare tutorials and lectures for online students.
The Australian academics who responded to the NTEU survey worked an average of 50.4 hours a week, but some claimed to work up to 100 hours in a typical week. Sixty-two per cent of respondents claimed that they regularly worked on evenings or weekends.
Dr Kenny said that Australian universities needed to adopt a more uniform approach to workload allocation that took into account detailed evidence about the time it took to complete certain tasks because staff were often working large numbers of “invisible” hours.
“It is well-known that academic work is complex and difficult to quantify [but] with the lack of clear time-based standards to work with, we have noticed a managerial tendency to pile more duties, particularly compliance duties, on to the desks of academics without assessing the associated workload impact,” he explained.
[email protected] |
TerraPay joins with Bux to help Indian diaspora send money home | Mobile payments provider TerraPay has partnered with Australian fintech Bux to add India to Bux's app as a transfer destination for international payments. Indian nationals working overseas can now use Bux to send small sums instantly and relatively cheaply to bank accounts in India from Australia, Europe, Hong Kong and the UK. TerraPay is part of India's Mahindra Group.
| http://telecomdrive.com/terrapay-bux-launch-mobile-app-based-cross-border-money-transfers-india/ | 2017-09-21 11:00:14.017000 | Share
TerraPay, the mobile payments switch, has partnered with bux, a mobile app money transfer service, to launch anywhere, anytime instant cross border money transfers from Australia, Hong Kong, the United Kingdom and Europe to India.
The partnership with TerraPay and bux just made sending money to India a little cheaper and more convenient because it can now be done from a mobile phone with just a few taps. Bux customers have the freedom to safely and instantly transfer money, 24X7, to bank accounts in India from their mobile phones through the mobile application.
bux’s money transfer service offers compelling benefits to expats, foreign workers, international students and migrants, including; access to low-cost, anytime, anywhere secure money transfers, up to 45% cheaper than competitors. Traditionally when sending money home, migrants would have to put up with expensive trips to agent locations or bank branches, high fees and transaction times of up to a week to send small value transfers.
Ambar Sur, Founder & CEO of TerraPay said, “The partnership between TerraPay and bux aims to add value to the growing remittance market. We are proud to increase the speed and convenience with which people in Australia and Hong Kong can send money to friends and family in India. Our partnership with bux will help the migrants by providing a real-time, 24X7 and seamless money transfer service experience.”
Andrew Webber, Managing director, bux says, “We are very excited about our partnership with TerraPay and adding India as a send money destination in the bux app. This partnership means that bux customers can now send money home to India from Australia, the United Kingdom and Europe anytime, anywhere. Adding this growing remittance corridor to the app will ensure continued customer growth for bux. We are proud that we can now provide the Indian diaspora around the globe an easier, cheaper and safer way to send money home.”
TerraPay, the world’s first mobile payments switch is a global transaction processing, clearing and settlement service for mobile wallets. It provides the interoperability engine that enables customers to send and receive real-time transactions across diverse payment instruments, platforms, and regions.
The company believes in the power of mobile devices and is building the digital payment rails to fulfil their vision of enabling users to send money to any mobile. TerraPay is a B2B company incubated by Mahindra Comviva, a global leader in delivering mobile financial solutions and is part of the USD 19 billion Mahindra Group. |
Singaporean healthtech MyDoc wins $5.2m in series A funding | Singapore healthtech start-up MyDoc has raised $5.2m in a series A funding round led by California's UST Global. My Doc offers companies a platform that integrates healthcare provision by connecting patients, healthcare professionals, companies, pharmacies, health data and insurers. Corporate users of its services include AIA, AXA and Aetna, and its partners include the Health Promotion Board as well as doctors' clinics and laboratories. The investment will be used to develop the MyDoc@Work platform, which provides health-related services to employees, including video consultations, and to fund expansion into other Asian markets
| http://techseen.com/2017/09/20/healthtech-startup-mydoc/ | 2017-09-21 10:52:10.907000 | 5 MIN READ
MyDoc, a Singapore-based regional healthtech startup , has raised US$5.2 million in a Series A funding round. The investment was led by UST Global , a California-based, global provider of end-to-end IT services and solutions for Global 1000 companies. Other investors include cross-border early stage venture capital firm Wavemaker Partners.
The startup provides companies with a digital health platform that integrates key aspects of healthcare – connecting patients, healthcare professionals, corporates, pharmacies, health data and insurers. Current clients include AIA, AXA and Aetna and other partners including the Health Promotion Board (HPB), Guardian Pharmacy, as well as individual general practitioner clinics and laboratories.
“We see increasing corporate and insurer demand for enterprise digital health solutions like MyDoc. This funding is a strong boost for us to meet this demand by expanding our services throughout Asia and enter new markets. Our Series A funding round reflects the confidence our investors have in MyDoc’s business model and services, as well as the potential of the industry,” said Snehal Patel, CEO and Co-Founder, MyDoc.
Redefining Corporate Healthcare Management
This Series A round will fund the development of MyDoc@Work, a digital healthcare platform which provides corporate employees a wide range of health services – video consultation with doctors, online prescriptions, online medical certificates (MyMC), on-site health screenings and a private care network. The private care network provides access to dental, physiotherapy, eye health, and fitness and other services.
Through this platform, corporations can benefit from significant cost and operational efficiencies, through reduced administrative processes to manage medical certificates, insurance claims, decreased employee absenteeism (due to ill health) and minimized upfront employee healthcare costs.
“With MyDoc@Work, we’re building a simple, validated, but powerful corporate health tool that not only promotes, but creates action towards building a healthier company. MyDoc@Work allows corporate employees to enjoy the convenience of consulting a doctor remotely – saving time on traveling to the clinic as well as queuing to see the doctor and collecting medication – and overall better health as they are more likely to follow up with necessary treatments,” added Patel.
Focus on Insurtech Solutions
A second investment priority is the continued development of health-focused insurtech solutions based on MyDoc’s proprietary technology. The startup is now shifting its focus towards improving and expanding services to benefit both policyholders and payers.
Part of the Series A funds will be used to continue development of insurance-focused solutions that enable further automation of the health insurance process. This work will include tools that allow comprehensive data analysis to enhance the delivery of personalized care.
The partnership with UST Global would allow MyDoc to tap into the company’s technological capabilities and expertise, as well as grow the business through UST Global’s distribution channels and government partnerships. |
8fit raises $10m for personalised fitness guidance app | Health and fitness start-up 8fit has raised $10m in a series A funding round led by venture capital firms Creandum and Eight Roads. The Berlin-based company's 8fit app offers tailored workouts and support with healthy eating including meal plans. The company plans to use the investment to increase its users internationally.
| http://newscenter.io/2017/09/health-fitness-startup-8fit-brings-10-million/ | 2017-09-21 10:47:08.587000 | 8fit announced it has raised $10 million in Series A financing led by Creandum and Eight Roads.
8fit plans to make healthy living fun and simple by providing guidance and support – including tailored workouts and meal plans – in one easy to use app. The company provides wholesome, nutritious meal plans with real food, customized by food groups and ingredients. Its workout plans can be applied to all fitness levels and are designed to help users keep their programs on track.
The company revealed that the Series A investment will help 8fit support rapid international user growth. |
Consumer-protected crypto payments platform raises $3.5m pre-ICO | Swiss blockchain firm UTRUST has raised $3.5m from private investors ahead of its planned initial coin offering (ICO) in October. The funds will be used to establish key industry partnerships. UTRUST is developing the first cryptocurrency payments platform to feature consumer protections. The company aims to offer "fast, secure, convenient and inexpensive cryptocurrency transactions", and also target the 2.5 billion unbanked people in emerging markets. | http://markets.pettinga.com/pettinga/news/read?GUID=34957499 | 2017-09-21 10:42:47.250000 | ZUG, Switzerland - September 20, 2017 - ( Newswire.com
UTRUST is pleased to announce it has so far raised $3.5 million USD in total, for the world‘s first Bitcoin and cryptocurrency payments platform with consumer protections. To express gratitude and to show how much they appreciate the enthusiasm of their supporters, UTRUST has decided to introduce an Early Supporter Reward.
Anyone who is already registered, or who registers on the UTRUST website before the 20th of September 2017, will receive a 20% reward on the first $10,000 contributed during the ICO. For example, if a supporter contributes $1,000, they will receive $1,200 of UTRUST tokens.
UTRUST CEO Nuno Correia, and co-founder Filipe Castro, CIO also hosted a live video streaming AMA event on the 15th Sept. Nuno, Filipe, and Artur the CTO answered many questions from the community. The full recorded live stream can be viewed here.
Last week, UTRUST also announced that a new public ICO date will be shared in early October, with a more equitable public ICO structure.
About UTRUST
UTRUST has currently raised $3.5 million through private early investors and the sold-out pre-ICO, with the public ICO to be announced in early October.
UTRUST is the world’s first cryptocurrency payments platform to implement consumer protections on a mass scale. The company is building a global PayPal–like payments platform with extensive cryptocurrency support.
UTRUST’s end goal is to provide all the benefits of fast, secure, convenient, and inexpensive cryptocurrency transactions, in tandem with the world’s first cryptocurrency payment protections, which consumers need to fully embrace blockchain technology en masse.
With 2.5 billion unbanked people in Emerging Markets yet to benefit from financial inclusion, UTRUST is also planning to build the bridge to enable the unbanked worldwide to access the mainstream global financial system.
UTRUST ICO and Tokens
UTRUST’s public ICO will be set in October. The company will use the collected funds to establish key industry partnerships and to develop the world’s first PayPal-like cryptocurrency payments platform. The ERC20 compatible tokens are created over the Ethereum protocol and can be used as a means of payment on UTRUST’s payment gateway along with other cryptocurrencies.
UTRUST’s token can be used for making zero-fee payments to the thousands of merchants accepting any cryptocurrency via UTRUST, and be traded against other currencies on supported exchange platforms.
UTRUST will allocate a certain portion of the revenues to buyback and destroy the tokens in circulation. Being a deflationary currency by design, the demand for UTRUST tokens will increase with time, which combined with buyback should lead to appreciation in its market value.
To learn more about UTRUST’s ICO please go to: https://utrust.io/ico
The Team
UTRUST is backed by a highly-experienced team from various sectors including corporate management, startups, payments, cryptocurrency development, law, finance, and computer science. Some of the prominent members of the team include:
Nuno Correia, CEO
Nuno Correia is an early cryptocurrency investor who has been involved in the cryptomarkets since the beginning of 2011. Having founded multiple B2C businesses in the past, Correia has a background in Law and Marketing, and his passion lies in transforming the future of digital payments.
Filipe Castro, CIO
Filipe Castro holds a business degree from MSENG and is passionate about disruptive technologies. He has experience developing electronic payment systems and other software solutions during the early days of his career. Castro is engaged in business development and strategic development of new ventures.
Artur Goulão, CTO
Artur Goulão comes with previous experience in the payments industry. He has previously donned the role of a CTO in one of leading digital payment platform and is currently serving as the Head of Development at a Swiss-based cybersecurity company. With a background in computer science from IST and MIT, Goulão is well-acquainted with both classical and blockchain smart contract-based approach.
Roberto Machado, CPO
Founder and Product Manager at several startups prior to UTRUST, he has been leading different teams to build highly-reliable software products, with a focus on the end-user experience. Previously, he has worked together with major international companies such as AT&T, Betfair, Airtel, and Uphold, being responsible for the vision outline, goals and product strategy of solutions used by millions of users.
Other significant team members include Luis Ferreira as Head of Engineering; Laura Esteves as Head of Operations; Joao Ferreira as Head of Design; Nick Olender as Head of Sales and Partnerships; and Francisco Baila as Product Designer. UTRUST has a team of software engineers like Miguel Palhas, Gabriel Poca, Ronaldo Sousa, Fernando Mendes, Bruno Azevedo, Pedro Costa, and Joao Justo.
UTRUST’s diverse advisory team includes Francisco Maia, Francisco Cruz, Joao Paulo, Sergio Viana, Marc Howland, David Dryan, Daniel Pierce and Sascha Benz.
Learn more about UTRUST: https://utrust.io
Read the UTRUST Whitepaper: https://s3-eu-west-1.amazonaws.com/utrust/UTRUST-whitepaper-v1.0.1.pdf
Learn more about UTRUST’s ICO: https://utrust.io/ico
Follow UTRUST on Twitter: https://twitter.com/UTRUST_Official
Join UTRUST on Facebook: https://www.facebook.com/utrust.io
Join the UTRUST Slack conversation: https://utrust-official.slack.com
Join UTRUST on Telegram at: https://t.me/utrustofficial
Read UTRUST’s posts on Medium: https://medium.com/@UTRUST
Media Contact
Contact Name: Nuno Correia, UTRUST CEO
Contact Email: [email protected]
Contact Phone: +41 22 518 70 77
Location: Zug, Switzerland
Related Links
Press Release Service by Newswire.com Original Source: UTRUST Raises $3.5 Million for Blockchain Payments Platform, Public ICO in October |
Dublin's Pointy raises $6m to help retailers list their wares | Dublin start-up Pointy has raised $6m in a series A funding round led by the founders of Bebo, Google Maps, TransferWise and WordPress. The Irish firm has developed a device that links to a barcode scanner, enabling retailers to easily list their products on a website, with results optimised for search. "If someone takes out their phone to search for a product they want to buy, they're likely to see a result from Amazon, even if a local store 50 feet away has the product in stock. It's frustrating for retailers and consumers alike," said co-founder Mark Cummins. | http://uk.businessinsider.com/pointy-raises-6-million-from-founders-of-google-maps-and-bebo-2017-9?r=US&IR=T | 2017-09-21 10:37:40.570000 | Mark Cummins and Charles Bibby. Pointy
Pointy, a Dublin startup with a device that shopkeepers can use to list their products online, has raised $6 million (£4 million) from a host of big name investors.
The Series A funding comes from Matt Mullenweg, founder of WordPress, Lars Rasmussen cofounder of Google Maps, Taavet Hinrikus cofounder of TransferWise, and Michael Birch cofounder of Bebo.
Venture capital firms Draper Associates and Frontline Ventures also participated in the round, which brings total investment in Pointy up to around $7.2 million (£5.3 million).
Founded by Mark Cummins and Charles Bibby, who met while studying their PhDs in robotics, Pointy provides local stores with a way to list all of their products online.
The company's "Pointy box" device connects to a store's barcode scanner and automatically puts scanned items on a website for the store. Pointy says that store pages are optimised for search engines, so that when local customers search for products, they find results from local stores.
The Pointy Box. Pointy
"For many local retailers, keeping up with technology can feel like too much," said Cummins in a statement. "They have full time jobs to do already, they don't have the time or expertise to create digital stores as well. But consumers increasingly expect to find everything on their smartphones.
"If someone takes out their phone to search for a product they want to buy, they're likely to see a result from Amazon, even if a local store 50 feet away has the product in stock. It's a frustrating for retailers and consumers alike. Pointy is solving that problem in a way that's effortless for retailers." |
SoCal Confronts Hepatitis A Outbreak | Vaccinations are urged, but the source of the outbreak is still unknown, as public health agencies in Los Angeles, Santa Cruz and San Diego counties take measures to combat the highly contagious virus.
| http://www.healthleadersmedia.com/physician-leaders/socal-confronts-hepatitis-outbreak | 2017-09-21 09:24:26.833000 | Vaccinations are urged, but the source of the outbreak is still unknown, as public health agencies in Los Angeles, Santa Cruz and San Diego counties take measures to combat the highly contagious virus.
Three counties in Southern California are dealing with a hepatitis A outbreak, with the majority of cases afflicting homeless people, drug addicts and the people who provide services for them.
“Public Health has been proactively preparing for an outbreak for some time and is working diligently to prevent spread in local communities. Our priorities are to keep all our residents both safe and well informed of the situation,” Jeffrey Gunzenhauser, MD, MPH, Interim Health Officer, Los Angeles County, said in a media release this week.
“Vaccination is the best protection against Hepatitis A. With this in mind, our outreach teams and clinics are offering free vaccine to persons who are homeless, active drug users, and those who provide services and support to those individuals,” Gunzenhauser said.
Hepatitis A outbreaks are also ongoing in San Diego and Santa Cruz counties. Officials have confirmed 10 total cases of the highly contagious virus among high-risk people in Los Angeles County. Four of the infected people had been in San Diego and one had been in Santa Cruz during their exposure period.
Three secondary cases occurred in a healthcare facility in Los Angeles County. Two most-recent cases appear to have acquired their infection locally within Los Angeles County, officials said.
Hepatitis A can be acquired through contact with an infected person’s feces through contaminated food or objects. Officials have all but ruled out contaminated food as the source of this outbreak.
The hepatitis A virus can spread when a person does not properly wash their hands after going to the bathroom or changing diapers. The virus can cause acute liver disease.
Other modes of transmission include certain sexual practices, sharing equipment related to illicit drug use, and consumption of food or water contaminated with the virus. People who are homeless are at higher risk because they face challenges to maintaining good hygiene, officials said.
Symptoms of acute hepatitis A include fever, malaise, dark urine, lack of appetite, nausea, and stomach pain, followed by jaundice. Symptoms generally last for less than two months although some persons may have prolonged or more severe illness. Infection can be prevented in close contacts of patients by vaccination or administration of immune globulin within two-weeks following exposure.
San Diego County
Public health officials in San Diego County have been grappling for several months with the outbreak of hepatitis A, which is blamed for at least eight deaths, with all of the victims weakened by underlying medical conditions.
Nick Yphantides, MD, with the San Diego County Health & Human Services Agency, said this week that “the outbreak is not from a contaminated food source. It is caused by person-to-person transmission.”
“One of the challenges of this virus is the long incubation period,” Yphantides said. “With this virus the average incubation period is 28 days, but the range of the incubation period can be anywhere from 15 to 50 days, which is quite a long incubation period.”
“Another complicating factor, medically speaking, is that individuals can be infected and can be transmitting the virus for up to two weeks prior to them having any symptoms,” he said.
Santa Cruz County
Since April, Santa Cruz County has had 69 confirmed cases of hepatitis A. They usually have 1-2 confirmed cases per year.
The county’s Public Health Division says an investigation is ongoing and challenging because of the long incubation period and the difficulty contacting people sickened with the illness who are homeless and/or illicit drug users.
With no common source of food, beverage, or other cause identified, the source of the outbreak remains undetermined, county officials said. |
California would lose $78 billion — more than any other state — under GOP health bill | California would lose more federal funding than any other state under the latest GOP plan to repeal the Affordable Care Act, according to an analysis released Wednesday by the health policy consulting firm Avalere Health.
| http://www.sfchronicle.com/business/article/California-would-lose-78-billion-more-than-12215611.php | 2017-09-21 09:23:37.290000 | California would lose more federal funding than any other state under the latest GOP plan to repeal the Affordable Care Act, according to an analysis released Wednesday by the health policy consulting firm Avalere Health.
By 2026, California would lose $78 billion in federal money for the Medi-Cal insurance program for the poor and in federal subsidies for low-income residents who buy health insurance through Covered California, the state exchange created under the ACA. That figure represents a 13 percent drop in federal funding levels, according to the analysis, which was funded by the left-leaning think tank Center for American Progress.
Blue states like California and New York that accepted the ACA’s additional federal dollars to expand Medicaid would be hit disproportionately hard by the bill, advanced by Sens. Lindsey Graham (R-S.C.) and Bill Cassidy (R-La.). By comparison, some red states that did not expand Medicaid would see an increase in federal funding. Texas, for instance, would receive $35 billion more from the federal government in 2026, the analysis found.
“The bill reallocates funding from states that expanded Medicaid to those that did not,” said Caroline Pearson, senior vice president at Avalere Health. “So a large state like California, which has had a big Medicaid expansion under the ACA, (is) going to be worse off.”
The Graham-Cassidy bill is similar to previous GOP bills that failed to gain enough support in the Senate earlier this year. It would eliminate the ACA’s individual and employer mandate and the expansion of Medicaid — which allowed California to enroll 4 million new people. It would also phase out federal subsidies currently used by 1.3 million low-income Californians to buy health insurance through Covered California.
Cassidy and Graham released their own estimates of how the bill would impact states, finding that California would receive roughly the same amount of federal funding under their plan. However, outside analysts said this estimate understates the impact to states because it was based on a misleading comparison. Rather than comparing spending levels under the GOP bill to spending levels under the ACA for the same year, it compares spending levels under the GOP bill for 2026 to spending levels under the ACA for 2020. This comparing apples to oranges, analysts said, because health costs rise over time, regardless of changes to health policy.
The non-partisan Congressional Budget Office plans to release a partial assessment of the bill next week.
The bill proposes grouping together the two streams of federal funding — federal subsidies for those buying Covered California plans and federal funding for Medi-Cal expansion — capping it, and then decreasing the amount over time through a mechanism known as a block grant. The funding for the block grants would end altogether after 2026, though Congress would have authority to reauthorize them.
In addition, the bill would impose a cap on federal funding for the overall Medi-Cal program. Currently, Medi-Cal is an open-ended program, meaning federal contributions increase to accommodate changing health care needs among beneficiaries.
This week, a group of Republican governors, led by Wisconsin’s Scott Walker, expressed support for the bill, saying that block grants give states flexibility and control over spending — though some GOP governors, including John Kasich of Ohio and Brian Sandoval of Nevada, have said they oppose the bill.
While the state would get flexibility in deciding how to spend the block grant, the net loss in federal dollars would be so significant that state officials would likely have to cut benefits for Medi-Cal recipients or make eligibility rules stricter so fewer people would receive benefits, experts said.
“Those caps on federal funding would mean billions of lost Medi-Cal dollars in the state, and the state legislature would have to decide how to respond to that,” said Laurel Lucia, a health policy researcher at the UC Berkeley Labor Center, which released a separate analysis this week on the impact of the Graham-Cassidy bill. “They could cut eligibility, benefits. They could find money in other parts of the budget. But the cuts we’re talking about are at such a large scale it’d be difficult choices they’d face.”
The UC Berkeley analysis found that 6.7 million Californians would lose health insurance in 2027 under the bill: the 4 million enrolled in Medi-Cal expansion, 1.3 million who have subsidized coverage through Covered California, and an additional 1.4 million children, seniors and people with disabilities currently on Medi-Cal. A small percentage of these individuals may be able to buy coverage without subsidies or enroll in employer-sponsored health plans, but the vast majority would become uninsured, researchers said.
The center based its findings on data from the left-learning Center on Budget and Policy Priorities, and the assumption that California would respond to the Medi-Cal funding cap by cutting eligibility or limiting enrollment for certain groups.
Air Quality Tracker Check levels down to the neighborhood Ratings for the Bay Area and California, updated every 10 minutes
“This bill would be more severe than simply rolling back the ACA,” Lucia said. “It rolls back the ACA and makes additional cuts to Medi-Cal on top of that.”
Catherine Ho is a San Francisco Chronicle staff writer. Email: [email protected] Twitter: @Cat_Ho
Uncovered
The new GOP health plan would have a significant impact on Californians who get health insurance through Covered California or Medi-Cal. This chart shows how many people in each Bay Area county and in the state as a whole are projected to lose coverage by 2027 under the proposed plan. |
CMS Innovation Center Seeks New Direction to Encourage Competition, Flexibility | CMS has issued an informal request for information seeking input on a new direction promoting patient-centered care and market-driven reforms for the CMS Innovation Center.
| http://www.ajmc.com/newsroom/cms-innovation-center-seeks-new-direction-to-encourage-competition-flexibility | 2017-09-21 09:23:01.640000 | CMS has issued an informal request for information seeking input on a new direction promoting patient-centered care and market-driven reforms for the CMS Innovation Center.
In an op-ed published in The Wall Street Journal, CMS Administrator Seema Verma noted the large numbers of Americans enrolled in Medicare and Medicaid plus the fiscal concerns surrounding those problems as a reason for leading the Innovation Center in a new direction.
“We will move away from the assumption that Washington can engineer a more efficient health-care system from afar—that we should specify the processes health-care providers are required to follow,” Verma wrote.
She added that CMS was analyzing current Innovation Center models to determine which ones should continue and which ones should not. In its request for information, CMS noted the following guiding principles:
Promote competition based on quality, outcomes, and costs.
Focus on voluntary models; reduce burdensome requirements and unnecessary regulations to allow physicians and other providers to focus on providing high-quality healthcare; and give patients and providers tools to make informed decisions.
Empower patients, their families, and caregivers to take ownership of their health and provide them with information and flexibility to make choices.
Use data-driven insights to ensure cost-effective care that also improves outcomes.
Draw on partnerships and collaborations for a transparent model design and evaluation.
Test smaller scale models that can be scaled up if they meet requirements for expansion under the Affordable Care Act.
1. Advanced alternative payment models (APMs)
Under the Medicare Access and CHIP Reauthorization Act, clinicians can choose to participate in an Advanced APM. The innovation Center is seeking ways to increase opportunities for eligible clinicians to participate in Advanced APMs.
2. Consumer-directed care and market-based innovation models
Beneficiaries should be empowered as consumers to make choices among competitors in a market-driven healthcare system. CMS is considering new options to promote consumerism and transparency.
3. Physician specialty models
CMS wants to increase specialty physician models to improve quality of care and lower costs by engaging specialty physicians in APMs.
4. Prescription drug models
CMS wants to test new prescription drug payment models in Medicare Part B and Part D and state Medicaid programs. Models should engage beneficiaries as consumers and promote novel arrangements between plans, manufacturers, and stakeholders.
5. Medicare Advantage innovation models
The Medicare Advantage Value-Based Insurance Design model is one example of providing more flexibility to improve outcomes, but CMS believes this model can be modified to provide more flexibility. The agency seeks other demonstrations that incentivize plans to compete for beneficiaries.
6. State-based and local innovation
CMS wants to increase partnership with states on additional state-led models that drive reform and innovation. Models would vary based on the needs and goals of each state.
7. Mental and behavioral health models
CMS is looking for models to improve care for behavioral health, including a focus on opioids, substance use disorder, and dementia, as well as improve participation of mental health care providers in Medicare, Medicaid, and the Children’s Health Insurance Plan.
8. Program integrity
The agency is seeking ways to reduce fraud, waste, and abuse, as well as improve program integrity.
There will also be main 8 areas where the Innovation Center is interested in testing models:
“There are a lot of great ideas, and we want to hear from people on the front lines,” Verma wrote. “No government agency has all of the answers, especially in an industry as large and multifaceted as healthcare.”
The announcement of the new direction of the Innovation Center comes just days after Patrick Conway, MD, MSc, left his position in CMS as head of the Innovation Center to serve as president and CEO of Blue Cross Blue Shield of North Carolina.
The comment period will remain open through November 20, 2017, and ways to submit comments can be found here. |
CMS says it will change direction of CMMI, wants providers to have greater flexibility in payment model design | The Centers for Medicare and Medicaid Services is redesigning its Innovation Center to give providers greater flexibility in payment models while encouraging greater competition among healthcare systems to drive down cost.
| http://www.healthcareitnews.com/news/cms-says-it-will-change-direction-cmmi-wants-providers-have-greater-flexibility-payment-model | 2017-09-21 09:22:00.857000 | The Centers for Medicare and Medicaid Services is redesigning its Innovation Center to give providers greater flexibility in payment models while encouraging greater competition among healthcare systems to drive down cost.
“This administration plans to lead the Innovation Center in a new direction,” said CMS Administrator Seema Verma in an op-ed published in The Wall Street Journal.
The Innovation Center came out of the Affordable Care Act and introduced many new models shifting payment from fee-for-service to value-based care.
But CMS is now looking for feedback on what models work and which ones don’t. It will accept comments through Nov. 20.
“Providers need the freedom to design and offer new approaches to delivering care,” Verma said. “Our goal is to increase flexibility by providing more waivers from current requirements.”
Current models have encouraged consolidation in the healthcare system, she said.
CMS wants to see more competition between providers to compete for patients in a free market system. Transparency is needed for consumers to be more cost-conscious, she said.
The Innovation Center is interested in testing models in eight focus areas including increased participation in advanced alternative payment models, consumer-directed care and market-based innovation, physician specialty models, prescription drug models, Medicare Advantage innovation models, state-based and local innovation, including Medicaid focused models, mental and behavioral health models and program integrity.
“We will move away from the assumption that Washington can engineer a more efficient healthcare system from afar -- that we should specify the processes healthcare providers are required to follow,” Verma said.
The move away from federal control to giving providers greater flexibility follows a push by the Department of Health and Human Services to do the same for states by urging state officials to apply for Section 1332 waivers to ACA requirements.
Legislation is also moving towards giving states fewer restrictions in the Section 1332 waivers established under the ACA. An estimated 23 states have begun steps towards getting a waiver. Seven have applied and two have gotten waivers.
Verma said Medicare and Medicaid are both facing a fiscal crisis, with Medicare’s trust fund projected to run out of money in 11 years and Medicaid representing the second largest budget item after education in most states.
CMMI’s new direction is to promote patient-centered care and test market-driven reforms to empower beneficiaries as consumers, provide price transparency, increase choices and competition, reduce cost and improve outcomes, CMS said.
Twitter: @SusanJMorse
Email the writer: [email protected] |
Obama says Republican healthcare plan would inflict 'real human suffering' | The latest Republican effort to repeal the Affordable Care Act would inflict "real human suffering" on millions of Americans, former President Barack Obama said Wednesday, speaking out in public defense of his signature healthcare reform effort.
| http://www.latimes.com/politics/washington/la-na-essential-washington-updates-obama-says-republican-healthcare-plan-1505930175-htmlstory.html | 2017-09-21 09:20:33.880000 | Trump Jr. to speak privately to Senate staff on Thursday
(Richard Drew / Associated Press)
President Trump’s oldest son is expected to meet privately with a Senate committee investigating Russian interference in the 2016 presidential election, several senators said Wednesday.
Donald Trump Jr.’s appearance Thursday before the Senate Judiciary Committee would probably focus on a meeting he had with a Russian lawyer and others during the final stretches of last year’s campaign. Emails released in July show that Trump Jr. was told the session at Trump Tower in New York was part of a Russian government effort to aid his father, the Republican nominee.
Special counsel Robert Mueller is investigating that meeting, also attended by Trump’s son-in-law, Jared Kushner, and then-campaign chairman, Paul Manafort. A grand jury has heard testimony about it.
Trump Jr. has also agreed to appear in the coming weeks before the Senate Intelligence Committee, which is conducting its own investigation.
Separately, President Obama’s national security advisor, Susan Rice, was meeting on Wednesday with the House Intelligence Committee, according to a person familiar with the interview. This person wasn’t authorized to discuss the committee’s confidential work and spoke on the condition of anonymity.
That committee has subpoenaed the Justice Department and the FBI for documents related to a dossier of salacious allegations involving Trump and possible ties to Russia.
As for Donald Trump Jr., some Democratic senators said they planned to attend his session though tradition dictates that senators cannot ask questions at such interviews conducted by committee staff.
Sens. Richard J. Durbin (D-Ill.) and Richard Blumenthal (D-Conn.) said they would be there. Sen. Chris Coons (D-Del.) was considering it.
“I go in with an open mind,” Durbin said. “I want to hear his answers to questions — there are plenty of questions — about the involvement of the Trump corporation as well as the Trump campaign with the Russians and other foreigners, and I just want to hear what Mr. Trump has to say.”
Durbin said he would be “shocked” if questions weren’t asked about whether Trump Sr. knew about the Trump Tower meeting.
“The critical part of his testimony will be following the financial dealing,” Blumenthal said. He said he also wants to find out what Trump Jr. may know about potential obstruction of justice, adding there may have been conversations between the two about the firing of FBI Director James Comey and other matters.
Blumenthal and Coons said the private interview is no substitute for a public hearing, which the committee chairman, Sen. Charles E. Grassley (R-Iowa), has promised will happen.
“This meeting is far less important than his public testimony, under oath, before the American people,” Blumenthal said.
Grassley would not say on Wednesday whether he would issue a subpoena for Trump Jr. if he refuses to testify publicly.
Meanwhile, the Justice Department is reviewing subpoenas from the House intelligence committee.
In a letter Friday that was obtained by the AP, the committee wrote that it had served subpoenas on Aug. 24 to the department and the FBI for documents related to the committee’s investigation of Russian meddling. The Justice Department and FBI had missed the original Sept. 1 deadline, so the committee extended the deadline to Sept. 14.
The letter was signed by the committee chairman, Rep. Devin Nunes (R-Calif.), who stepped back from the Russia investigation this year after he was criticized for being too close to the White House. Rep. Mike Conaway (R-Texas) took over the leading role, but his name does not appear on the letter.
As chairman, Nunes retains subpoena power in the committee.
According to the letter, the original subpoenas requested any documents related to the dossier and sought information about whether the department was involved in its production.
If the documents are not produced, the committee is seeking to compel Atty. Gen. Jeff Sessions, who has withdrawn from investigations examining connections between Trump and Russia, and newly installed FBI Director Christopher Wray to testify in an open hearing. The committee issued two additional subpoenas to Sessions and Wray on late Tuesday.
“Resort to compulsory process was necessary because of DOJ’s and FBI’s insufficient responsiveness to the committee’s numerous Russia-investigation related requests over the past several months,” the letter said.
If the committee is unable to obtain documents or testimony, Nunes wrote, the committee “expressly reserves its right to proceed with any and all available legal options,” including a House vote to hold Sessions and Wray in contempt.
The Justice Department confirmed it was reviewing the subpoenas but declined further comment.
The dossier attracted public attention in January when it was revealed that then-FBI Director Comey had briefed Trump, soon before he was inaugurated as president, about claims from the documents that Russia had amassed compromising personal and financial allegations about him.
It’s unclear to what extent the allegations in the dossier have been corroborated or verified by the FBI because the bureau has not publicly discussed it.
Rep. Adam Schiff, the top Democrat on the Intelligence Committee, said Tuesday evening on MSNBC that the subpoenas were issued over the objections of Democrats. Schiff said Republicans are working harder to discredit those who compiled the dossier than to find out if the allegations in it are true. He said Republicans should be more focused on getting documents from the White House.
The subpoenas were first reported by the Washington Examiner. |
How the Latest Obamacare Repeal Plan Would Work | The latest Republican proposal to undo the Affordable Care Act would grant states much greater flexibility and all but guarantee much greater uncertainty for tens of millions of people.
| https://www.nytimes.com/2017/09/20/upshot/obamacare-repeal-bill-offers-both-enormous-flexibility-and-uncertainty.html?_r=0 | 2017-09-21 09:19:52.727000 | The latest Republican proposal to undo the Affordable Care Act would grant states much greater flexibility and all but guarantee much greater uncertainty for tens of millions of people.
The legislation, proposed by two Senate Republicans, Lindsey Graham of South Carolina and Bill Cassidy of Louisiana, would not only reduce the amount of federal funding for coverage over the next decade, but also give states wide latitude to determine whom to cover and how. The result is a law that would be as disruptive as many of the Republicans’ previous proposals, but whose precise impact is the hardest to predict.
The bill would initially preserve nearly all the funding currently provided to Americans through the Affordable Care Act’s state insurance marketplace subsidies and expansion of Medicaid. But starting in 2020, that funding would be reallocated to state governments as block grants. Over time, the division of money would shift among the states based on a complex formula, and the total pot would grow according to a set rate, not based on the number of people nationwide who sign up for coverage.
States could use the money to replicate the programs in President Barack Obama’s signature health law, or to pursue completely different health policy strategies. The bill lays out some standards for program goals, but gives states broad discretion to use the funds in a variety of ways. “There will be clear differences between states about how they implement,” said Deep Banerjee, an analyst with Standard & Poor’s. “It will create quite a bit of uncertainty over the next few years.” |
Republican Leaders Defy Bipartisan Opposition to Health Law Repeal | Eleven governors, including five Republicans and a pivotal Alaskan independent, urged the Senate on Tuesday to reject a last-ditch push to dismantle the Affordable Care Act.
| https://www.nytimes.com/2017/09/19/us/politics/obamacare-act-fix-collapses-repeal-trump.html | 2017-09-21 09:19:24.303000 | Yet some governors, the supposed beneficiaries of that federalism, were decidedly cool to the proposal. New Hampshire’s Republican governor, Chris Sununu, had criticized the proposal on Monday. But it was the opposition of Alaska’s governor, Bill Walker, that might prove most important. He increased pressure on Senator Lisa Murkowski, Republican of Alaska, to cast what could be a deciding vote to kill the repeal effort, just as she voted against the last repeal bill in July.
Republican leaders appeared determined to thwart any alternative ahead of a possible showdown vote next week. Senator Lamar Alexander, Republican of Tennessee, announced Tuesday that he and Senator Patty Murray, Democrat of Washington, would not come forward with the “limited, bipartisan plan to stabilize 2018 premiums” in the individual health insurance market that they had been working toward.
Their bipartisan efforts, which grew out of four days of committee hearings, were overtaken by the resumption of partisan warfare on health care.
“We have worked hard and in good faith,” said Mr. Alexander, the chairman of the Senate health committee, “but have not found the necessary consensus among Republicans and Democrats.”
Ms. Murray was more blunt: “Republican leaders have decided to freeze this bipartisan approach and are trying to jam through a partisan Trumpcare bill.” |
Why Understanding Value Is Central to True Health Care Reform | While health care reform has become synonymous with the Affordable Care Act and this summer’s battle royale on Capitol Hill, true reform of our health care system needs to reach beyond debates over individual mandates, Obamacare, Medicaid expansion and other questions of health insurance design. It needs to address health care spending.
| https://morningconsult.com/opinions/why-understanding-value-is-central-to-true-health-care-reform/ | 2017-09-21 09:18:54.930000 | While health care reform has become synonymous with the Affordable Care Act and this summer’s battle royale on Capitol Hill, true reform of our health care system needs to reach beyond debates over individual mandates, Obamacare, Medicaid expansion and other questions of health insurance design. It needs to address health care spending.
The U.S. health care spending problem is the ubiquitous elephant in the room, making steady appearances in presidential tweets, nightly newscasts and most certainly on our bank statements. Spending on health care is increasing at its fastest clip in 10 years, with health care expenditures growing by 5.8 percent or $3.2 trillion dollars in 2015. The Centers for Medicare and Medicaid Services projects similar spending growth through 2025.
Given the daunting dollar signs, an easy trap for policymakers, as well as for anyone in the health care industry, is simply to focus on cutting spending. But to preserve and improve the standard of care, it’s important to focus not on how much to cut but instead on where we should be spending our limited resources.
The true problem is that dollars are poured into a system without any clear understanding of how worthwhile one dollar spent is, relative to another. The remedy lies in making spending and coverage decisions based on the value – not just the price tag – of health care treatments and services.
Value-based spending is a simple notion that amounts to prioritizing spending on services where the benefits outweigh cost – spend less on recognized areas of low-value care, like unnecessary tests and procedures, and more on high-value areas like vaccines.
Implementing value-based spending in practice, however, is more complicated because health care system stakeholders each have disparate, and sometimes conflicting, definitions of value.
Self-insured employers are likely to value care that allows patients to remain in the workforce, for example, whereas an insurer like Medicare may be more concerned about reducing hospital readmissions. For patients, the value of treatment is more personal – driven by side effects and how quickly they can get back to their daily lives.
Several medical societies and research organizations – the American Society of Clinical Oncology and the Institute for Clinical and Economic Review, for example – have developed value assessment frameworks, yet because these frameworks have different objectives and intended audiences, they have different results – which simply provide ammunition for the various sides of the debate.
Value assessments need to address the reality of diverse perspectives, evolving evidence bases, and differing needs on the part of decision-makers. They must be dynamic to adapt to new evidence and treatment advances, and flexible enough to be patient-centered, yet meet the needs of physicians, payers and health systems.
Fortunately, patient groups, researchers and payers are beginning to come together to define value. Last week, health plan representatives, leading researchers and patient groups gathered at the National Press Club to discuss better approaches to measuring value in treatments and services, as well as value-based reimbursement strategies.
Meanwhile, here at the Innovation and Value Initiative, we’re using feedback from the event and from other stakeholders across the health care ecosystem to build open, consensus-driven tools that will eventually help patients, providers, payers and health care systems all individually measure value in treatments and services.
It will take a consensus approach from stakeholders across the health care industry to tackle spending in a way that rewards value rather than volume. Time to get started.
Mark Linthicum is the director of scientific communications for the Innovation and Value Initiative, a collaboration between patient advocacy organizations, payers, providers and life sciences companies dedicated to improving the way value is measured and rewarded in the health care system.
Morning Consult welcomes op-ed submissions on policy, politics and business strategy in our coverage areas. Updated submission guidelines can be found here. |
Population Health in Primary Care: Cost, Quality, and Experience Impact | An evaluation of the use of predictive modeling for primary care resource allocation demonstrated reduced spending and improved quality and patient experience for publicly insured adults.
| http://www.ajmc.com/journals/AJAC/2017/2017-vol5-n3/Population-Health-in-Primary-Care-Cost-Quality-and-Experience-Impact | 2017-09-21 09:15:51 | ABSTRACT
Objectives: To evaluate whether a primary care practice transformation that used population health strategies and predictive modeling to match clinical resources to patient needs reduced inpatient and total spending, while maintaining or improving quality and patient experience for adult Medicaid and Medicare patients.
Study Design: Quasi-experimental analysis using an adjusted historical control.
Methods: Measures included a quality composite metric, patient experience indicators, and total cost of care, as assessed by an independent actuary.
Results: Payers saved a cumulative $15.8 million (1.7%) across a 26-month program implementation period, which was substantially larger than the approximately $3.9 million in program staffing expenses. Driven by reduced inpatient spending, the total cost of care for high-risk adults was reduced across all lines of business, ranging from —$40.88 per member per month (PMPM) to –$737.20 PMPM. Payer savings were larger for Medicare (5.5%) than for Medicaid patients (0.7%). Patient experience metrics improved during this time. Quality findings were mixed, likely confounded by the 2014 Medicaid expansion.
Conclusions: These findings suggest that risk-stratified primary care delivery models can achieve the Triple Aim and could be self-sustaining through alternative payment models that allow reinvestment of savings into program costs. These results are consistent with literature that finds that short-term return-on-investment requires carefully targeting patients at risk of hospitalization, that reducing Medicare hospitalizations may be more easily achieved than for Medicaid, and that opportunities may be greater among unmanaged fee-for-service populations. Differences in savings by payer and by year underscore the importance of all-payer approaches to program financial sustainability.
The American Journal of Accountable Care. 2017;5(3):10-20Constraining healthcare cost growth has been a focus of health policy since the enactment of Medicaid and Medicare in the 1960s.1 Despite substantial efforts, high medical inflation persists, governmental health spending continues to crowd out other priorities, and health outcomes remain poor compared with those of international peers.2-4 Post Affordable Care Act, efforts to reverse these trends have focused on patient-centered medical homes (PCMHs), complex care management, transitions of care, and accountable care organizations (ACOs). Results to date have been inconsistent, with a limited number of multifaceted programs reducing healthcare expenditures.5-8
Programs that have lowered costs and improved quality and patient experience (the Triple Aim) often share features of Wagner’s Chronic Care Model.9 Most have implemented comprehensive team-based care, enabling proactive provider-patient interactions and tailoring care models to better support the needs of high-risk patients.10-15 Clinical information systems to facilitate population health management have also been foundational, including high-risk patient identification, decision support, and clinical performance feedback.16,17
Most cost-saving initiatives have targeted Medicare or commercial populations and have achieved savings by reducing hospitalization.10,12,13,18-22 Among the few well-designed Medicaid programs, evaluations assessing costs or hospitalizations have shown mixed findings.23-25 This suggests the need to adapt successful interventions to Medicaid populations, which will likely require attending to social determinants of health.22,26,27
Finding effective Medicaid approaches takes on increased salience as Medicaid/Children’s Health Insurance Program (CHIP) enrollment has outpaced that of Medicare.28,29 To this end, the Center for Medicare & Medicaid Innovation (CMMI) funded Health Care Innovation Challenge Awards (HCIAs) to accelerate at-scale, delivery system reform.30 We describe the reach and Triple Aim outcomes of an HCIA-funded primary care practice transformation at a large urban safety-net institution. This intervention employed predictive risk modeling to segment patients according to clinical and financial criteria, and sought to target higher-risk patients for more, and more intensive, services. This evaluation tested whether a risk-stratified, enhanced primary care delivery model demonstrated savings through reduced inpatient spending, while improving quality and patient experience for Medicaid and Medicare adults.
METHODS
Setting
Denver Health (DH) is an integrated, academic safety-net delivery system and the largest provider of Medicaid and uninsured services in Colorado, serving approximately 200,000 patients annually. DH provides comprehensive outpatient and inpatient services and operates a managed care plan. This integration enables data capture across the care continuum.
Target Population
Although the program targeted both adults and children in need of primary care services, this evaluation focused on Medicaid and Medicare beneficiaries older than 19 years, specifically: DH primary care users (≥1 primary care visits in the prior 18 months); DH managed care members; or frequent users of DH’s emergency department, urgent care, or hospital services (≥3 services in a year). The target population was dynamically redefined monthly, according to a validated population attribution and risk-stratification algorithm, described briefly below and detailed elsewhere.31 Excluded were individuals who could not be risk-stratified due to no claims history or short enrollment periods.
DH adapted commercial predictive risk modeling software to assign patients to 1 of 4 tiers of care needs. The algorithm relied primarily on age, gender, diagnosis, clinical procedure, and medication history. Through a multidisciplinary process, DH-defined rules were developed and integrated into the algorithm. These rules considered additional diagnostic information, clinical registries, and utilization patterns signaling unmet social or behavioral health needs. Algorithm development for high-risk tiers focused on defining patient groups at risk of hospitalization with distinctive care support needs, not solely on high costs. As noted, the algorithm was rerun monthly to capture new patients and changes in health status.
Intervention: Tiered Population Health Approach to Primary Care
This population health intervention built on DH’s National Committee for Quality Assurance—certified PCMHs and used Wagner Chronic Care Model principles to implement team-based care for complex populations.32-36 Consistent with Wagner’s vision of health information technology—enabled, proactive, prepared teams, DH provided real-time patient risk-tier information for care planning at the point of care. We specified a graduated set of enhanced clinical and electronic services appropriate to each risk tier, with more higher-intensity services targeted to higher-tier patients. Standard work that considers both tier and individual needs guided care teams’ service provision.
All patients (tiers 1-4) were provided “usual care” medical home services, complemented by new, optional electronic messaging reminder services. DH also expanded primary care staffing to include new team members to provide disease management, care transition, and patient navigation services (tiers 2-4). This enhanced-care team included nurse care coordinators, clinical pharmacists, behavioral health consultants, and patient navigators. More comprehensive multidisciplinary care management support was available to complex patients (tiers 3-4) during and between visits.
For tier 4, separate high-intensity clinics were established for targeted subpopulations: children with special healthcare needs, medically complex adults with multiple admissions, and adults with severe mental health diagnoses. All high-risk teams sought to empower patients through multidisciplinary care planning, goal setting, and problem-solving approaches. Patients also received referrals for specialty care, substance abuse treatment, housing, and other community resources (Figure).
Process and Outcome Measures
Primary outcomes were program reach, patient experience, quality, and total cost of care. Patient reach was quantified as the number of patients receiving any face-to-face or phone-based patient interaction by the HCIA-funded enhanced-care or high-intensity teams. Usual care clinical contacts were not included, nor were low-touch services, such as phone messages, letters, and text messages. These exclusions sought to avoid overstating program reach by focusing on new, intensive HCIA services.
To assess overall quality, DH uses an internal composite quality metric comprising individual indicators largely adapted from the Health Resources and Services Administration’s Health Center Program Uniform Data System. DH used the Consumer Assessment of Healthcare Providers and Systems’ PCMH-aligned items to assess patient experience.
Assessed from the payer perspective, the total cost of care measure was calculated by aggregating medical expenditures across all inpatient, outpatient, professional, and other services, and was expressed on a per-member per-month (PMPM) basis to account for differing lengths of enrollment. DH had nearly complete data capture for its managed care members because the DH health plan pays members’ medical claims. For those enrolled in fee-for-service (FFS) programs, spending estimates for non-DH services were derived from public sources (listed in the eAppendix [eAppendices available at ajmc.com]). Savings net of program expenses were also calculated.
Program expenses included salary and benefits of HCIA-funded staff, including the enhanced-care team, information technology, and evaluation personnel. Clinical staffing associated with reimbursable clinical care for program participants was not counted, nor were program development costs. This represented DH’s annual, unreimbursed costs to continue the program post award (eAppendix).
Analytical Approach
This quasi-experimental analysis compared trends in payer spending between a baseline performance period and 2 intervention performance periods. Because DH enrolls a majority of the Denver Medicaid market and the program was implemented at scale, no concurrent DH or non-DH control population exists. Therefore, it was necessary to develop an appropriate historical comparative population to estimate what the baseline costs would have been without the intervention. Observed costs were then compared with this historical cost benchmark. CMS uses a similar methodology to assess the financial performance of Medicare ACOs.37 Consistent with CMS’ approach, population-level cost outcomes were assessed whether or not targeted individuals were reached by the intervention. In the actuarial literature, this is approach is known as quasi-experimental analysis using an adjusted historical control.38
To construct performance populations for analysis, DH used its patient attribution and tiering algorithm to identify the target population during each month of baseline and intervention performance periods, resulting in 38 cross-sections, each with different member month counts and tier distributions. These 38 cross-sections were subsequently aggregated into 3 performance periods: a 12-month baseline period, a 14-month early program period, and a 12-month mature program period. The decision to create 2 intervention periods balanced several considerations: distinguishing early and mature program effects, minimizing seasonal effects by selecting measurement periods of approximately equal length, and isolating the potentially confounding effect of the Medicaid expansion in 2014 into a separate performance period.
Changes in medical costs were calculated by subtracting observed costs during the 2 intervention periods from the historical cost benchmark. In contrast to a pre-post analysis that focuses on a single population cross-section that is reached by the intervention, we refresh the population (38 cross-sections). This addresses regression by accounting for population dynamics such as changes in health status. To the extent that high-risk patients became lower-risk, died, or left the population during the intervention periods, this phenomenon also occurred during the baseline period, enabling detection of performance improvement net of these effects.
During the intervention periods, observed member months (which differ by time period) were the denominator used to calculate PMPM costs, but were not the multiplier to calculate total costs. To ensure the intervention period costs were comparable to those of the baseline period, the PMPMs were applied to the baseline population’s tier distribution. This “tier mix” adjustment ensures that patient health status was comparable across performance periods, effectively holding tier mix constant (see eAppendix for details).
To establish the historical cost benchmark, against which the intervention period costs can be compared, we quantified payer spending for the baseline population, adjusted by a medical inflation factor to account for secular cost trends. This adjustment is necessary to enable direct comparison of costs during the baseline and intervention periods. The Medicaid trend factor was 3.7%, consistent with the trend developed during Colorado state Medicaid agency annual capitation rate setting for DH’s health plan. The 2.3% Medicare trend factor was derived from the National Health Expenditures Projections report. Baseline costs for the Medicaid expansion population were estimated according to insurance rate-setting methods for a new population (eAppendix). We stratified cost outcomes by payer to account for payer-specific reimbursement levels.
RESULTS
Population Characteristics
Table 1 compares baseline and intervention populations according to tier, gender, and age. Member months are post adjustment, reflecting the above-described tier-mix adjustment.
Program Reach Results
As intended, a greater proportion of higher-tier patients were reached by DH interventions than were lower-tier patients. More than half of adult tier 4 patients were reached by either primary care—based enhanced-care team members or visited a high-intensity clinic during the ramp-up (51.0%) and mature program periods (56.4%). Program reach was lower for lower-tier patients: for the ramp-up and mature program periods, respectively, the percentages were 24.6% and 25.6% for tier 3, 15.7% and 12.9% for tier 2, and 1.5% and 1.4% for tier 1.
Quality and Patient Experience Results
The DH composite quality metric measured 77% at baseline. It increased to 82% during the intervention ramp-up, declined to 72% in 2014, and rebounded to 81% by mid-2015. Four of 6 patient experience metrics improved or remained constant during intervention ramp-up, and improved relative to baseline in 2014 and 2015 (Table 2).
Total Cost of Care Results
Reductions in total costs were observed for the majority of periods and payer populations, except for Medicaid managed care during the ramp-up period and Medicare managed care in the mature program period (Table 3). DH achieved a cumulative $10.9 million reduction in the total cost of care for its Medicaid and Medicare FFS populations across the 2 program implementation periods. These savings largely accrued to the state and federal governments. The largest share of this FFS cost avoidance ($8.2 million) was attributable to Medicare FFS. An additional $5.0 million reduction in the total cost of care was estimated for DH’s capitated managed care during this same timeframe. The annualized personnel cost of the adult program totaled $1.8 million.
During both the ramp-up and the mature program periods, reductions in the total cost of care for tier 4 adults were observed across all managed care and FFS payers, ranging from —$40.88 PMPM to –$737.20 PMPM. Reduced tier 4 spending was concentrated in inpatient reductions. For lower-risk populations (tiers 1-3), changes in claims costs varied by payer and by year. In aggregate, the analysis shows small cost reductions for tiers 1 and 3 (totaling $1 million across years and payers).
Tier 2 costs consistently exceeded the benchmark, totaling $4.8 million for Medicaid and $2.6 million for Medicare. For both Medicare and Medicaid, this higher-than-expected tier 2 spending offset, but did not eliminate, overall cost reductions.
We conducted a subanalysis on DH’s Medicaid and Medicare managed care populations to further explore the changes in tier 4 inpatient costs. We chose these populations due to the more complete data capture. Table 4 reveals that reductions in inpatient costs are not consistently observed in lower-risk tiers, suggesting that tier 4 inpatient cost reductions are not due to a broader secular trend affecting all DH populations. Consistent with prior research, Table 4 reveals that tier 4 inpatient savings are offset by increased spending in other areas, possibly reflecting program-driven referrals that resulted in additional service provisions.12,24,20
DISCUSSION
This study provides an important contribution to the literature as one of the first cost analyses of a major CMMI/HCIA initiative. Compared with an inflation-adjusted baseline period, net reductions in PMPM spending were observed in 5 out of 6 payers during 2 subsequent intervention periods. Patient satisfaction measures also improved during this same timeframe, suggesting that cost reductions were not achieved at the expense of patient experience. Overall quality improved in 2013 and 2015 over baseline performance. Reduced performance during 2014 may be partially explained by pent-up demand during the Medicaid expansion.
As hypothesized, reduced inpatient spending among high-risk adults drove the overall reduction in the total cost of care. High-risk (tier 4) adults with multiple chronic conditions and repeated hospitalizations were targeted for multiple interventions, and more than half were reached. The program reached fewer lower-tier patients and concomitant changes in associated payer spending were less pronounced, and even increased in some cases. This latter finding suggests that team-based care for lower-risk patients may need to be more targeted or evaluated over a longer time horizon.
Although we observed year-to-year fluctuations in performance, average cost reductions for Medicare exceeded Medicaid performance and FFS reductions were generally larger than those for managed care members. These results are consistent with literature that finds that short-term return on investment requires carefully targeting patients at risk of hospitalization, reducing Medicare inpatient costs may be easier than for Medicaid inpatient costs, and opportunities may be greater among unmanaged FFS populations. Differences in cost-avoidance by payer and by year underscore the importance of all-payer approaches to overall financial sustainability.
Gross cost reductions of nearly $16 million over the entire 26-month intervention period are substantially larger than the approximately $3.9 million in staffing expenses, supporting the self-sustaining potential of risk-stratified primary care delivery models. However, neither FFS nor experience-based capitation permits ongoing reinvestment of savings into program costs. Cost reductions accrue to at least 3 separate payers: the federal and state government for FFS Medicare and Medicaid patients, and the DH health plan for its managed care members. Since DH owns and operates its own health plan—an unusual arrangement among safety net institutions—there is a direct means to “capture” a portion of the payer savings. Combined Medicaid and Medicare managed care cost avoidance was estimated at $2.3 million (annualized) compared with the $1.8 million in annual program costs. However, because capitation rates are based on historical claims costs, funds for program reinvestment will decline over time as capitation payments are rebased to reflect lower levels of medical expenditures.
Thus, current payment models—even capitated managed care—do not align incentives. Although both Medicare and Medicaid have implemented new FFS care coordination, care transitions, and integrated care reimbursement opportunities, requirements are often highly prescriptive, process-oriented, and not consistent across payers. As a result, staffing models and clinical work flows that meet Medicare rules do not necessarily satisfy those of Medicaid, and vice versa. However, multipayer approaches are necessary to ensure sufficient funds and to smooth out year-to-year variations, especially for high-volume Medicaid providers. This underlines the need to accelerate implementation of advance payment models that better align financial incentives.
Recognizing that current payment models do not adequately incentivize population health approaches, CMS has set a goal to have 90% of Medicare non-FFS arrangements by 2018.39 This evaluation offers both programmatic and financing insights relevant to alternative payment model development, such as those being developed under the Medicare Access and CHIP Replacement Act.
Limitations
First, although we applied a tier-mix adjustment and stratified by payer to ensure equivalence between the baseline and intervention populations, some differences in population characteristics remain that could partially account for the findings. Second, incomplete data capture is a concern. Although we estimated service use at non-DH facilities among FFS populations, we did not attempt to estimate cross-sector impacts to the criminal justice or social service systems. Third, there is no widely accepted best practice for trend assumptions to establish the cost benchmark. Because DH accounts for approximately 57% of the Denver Medicaid primary care market, we cannot use actual trend. We therefore selected trend assumptions that were based either on state rate-setting practices (3.7% for Medicaid) or national health spending trends (2.3% for Medicare). These trends are equivalent or lower than a recent CMS actuaries’ analysis that found that US health spending growth was “historically low” between 2009 and 2013, averaging 3.7%.3 Our trends are also lower than a touted Oregon Medicaid program analysis, assuming a 5.4% trend on a 2011 baseline.31,40 Although our approach does not exclude the possibility that savings result from a broader, secular phenomenon of lower inpatient spending, reductions were concentrated in tier 4 where program reach was greatest. Generalized inpatient reductions across all tiers were not observed. Finally, the program was implemented at a single institution; findings may not be generalizable.
CONCLUSIONS
Recent leveling-off of costs is often attributed to the aggregate effect of readmission reduction programs nationally, most of which have been launched without formal research designs. Although at-scale implementation complicates efforts to identify unexposed, concurrent comparison groups, from an institutional perspective, improvements over past performance are relevant even while the broader sector also improves.34 This analysis demonstrates that a large, multifaceted program may be evaluated by benchmarking against historical costs, using well-accepted actuarial methods to address regression to the mean.41 We conclude that risk-stratified, enhanced primary care delivery models hold Triple Aim promise, assuming supportive payment models.
Acknowledgments
The authors would like to acknowledge the project team responsible for designing and implementing the intervention, including the core management team, clinical teams, information technology team, and evaluation team, as well as Ambulatory Care Services and Executive Leadership (past and present).
This study was conducted for quality improvement/quality assurance purposes. Colorado Multiple Institutional Review Board (COMIRB) determined this project to be “not human subjects” research. Results are not generalizable.Author Affiliations: Denver Health and Hospital Authority (TLJ, CIO, DB, RE, PG, SJH, HB), Denver, CO; Milliman (MvdH, SD), Denver, CO; Colorado School of Public Health (AA), Denver, CO.
Source of Funding: The intervention described herein was supported by Grant Number 1C1CMS331064 from the Department of Health and Human Services, Centers for Medicare & Medicaid Services. The contents of this publication are solely the responsibility of the authors and do not necessarily represent the official views of the US Department of Health and Human Services or any of its agencies. Findings might or might not be consistent with or confirmed by the findings of the independent evaluation contractor.
Author Disclosures: Several of the authors are or were employed by Denver Health and Hospital Authority (TLJ, CIO, DB, RE, PG, SJH, HB). Dr Johnson was co-principal investigator, Director of Evaluation, and reports that earlier versions of this analysis were presented at 2 academic conferences. Dr Hambidge has presented data from this project at 4 national academic and policy conferences. The remaining authors report no other relationship or financial interest with any entity that would pose a conflict of interest with the subject matter of this article.
Authorship Information: Concept and design (TLJ, PG, SJH, AA, HB); acquisition of data (TLJ, DB, RE, SJH, AA); analysis and interpretation of data (TLJ, MvdH, SD, CIO, DB, RE, PG, SJH, AA, HB); drafting of the manuscript (TLJ, CIO, PG, AA); critical revision of the manuscript for important intellectual content (TLJ, MvdH, SD, CIO, RE, PG, SJH, AA, HB); statistical analysis (MvdH, SD, RE); provision of study materials or patients (SJH); obtaining funding (TLJ, PG); administrative, technical, or logistic support (TLJ, DB, RE, SJH, HB); and supervision (TLJ, RE, SJH).
Send Correspondence to: Tracy L. Johnson, PhD, MA, Denver Health, Ambulatory Care Services, 777 Bannock St, MC 6551, Denver, CO 80204. E-mail: [email protected]
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Does Medicare make sense for seniors with employer health coverage? | More and more employers are adopting high-deductible health plans, which usually include a health savings account. In 2016, between 20 and 23 million employees and family members had HSAs, according to the Employee Benefit Research Institute. These plans can make Medicare more popular to employees aged 65 and older, even if they have the option of staying on their employer plans.
| http://www.pbs.org/newshour/making-sense/medicare-make-sense-seniors-employer-health-coverage/ | 2017-09-21 09:11:52.243000 | Editor’s Note: Journalist Philip Moeller is here to provide the answers you need on aging and retirement. His weekly column, “Ask Phil,” aims to help older Americans and their families by answering their health care and financial questions. Phil is the author of the new book, “Get What’s Yours for Medicare,” and co-author of “Get What’s Yours: The Revised Secrets to Maxing Out Your Social Security.” Send your questions to Phil.
More and more employers are adopting high-deductible health plans, which usually include a health savings account. In 2016, between 20 and 23 million employees and family members had HSAs, according to the Employee Benefit Research Institute. These plans can make Medicare more popular to employees aged 65 and older, even if they have the option of staying on their employer plans.
Ask Phil readers already are familiar with a major pitfall of HSA plans for employees who are receiving Social Security. In order to receive any type of Social Security payment, beneficiaries aged 65 and older must, by law, also sign up for Part A of Medicare.
Part A charges no premiums to people who have enough work experience to qualify for Social Security benefits. It can come in handy as supplement insurance to help pay for hospital and other institutional health care expenses that are covered by Part A but either not covered by their employer plan or not fully paid for by that plan.
This is usually a nice supplemental insurance benefit to have. However, Part A comes at a heavy price for HSA participants: Having Part A qualifies as being on Medicare, and Medicare recipients are prevented under IRS rules from making new pre-tax contributions to an HSA. They may use funds already in an HSA account, but cannot add new funds. If their employers don’t also offer a non-HSA health plan, the employees could be on the hook for sharply higher health insurance expenses.
READ MORE: Standard Medigap plans are learning some new tricks
This downside, when added to the burden of high and often rising annual plan deductibles, can make getting Medicare more attractive for employees with group health plans. In the past, I usually told employees turning 65 that they did not have to get Medicare and could simply keep their employer plans.
My thinking has changed.
The rise of high-deductible plans should trigger a serious study by people about the merits of Medicare – either in addition to employer plans or in place of them.
The rise of high-deductible plans should trigger a serious study by people about the merits of Medicare – either in addition to employer plans or in place of them.
The current monthly premium for Part B of Medicare is $134 a month. Part B covers expenses for doctors, care at non-hospital facilities, and durable medical equipment. This works out to a bit more than $1,600 a year. There also is a $183 annual deductible that people must pay for Part B expenses before their insurance coverage begins. Here’s a summary of Part A and Part B costs.
For people keeping their high-deductible employer plans, laying out $2,000 for Part B premiums and deductibles could well be money well spent. This is because Medicare can be a secondary insurer and can pay a big hunk of covered plan expenses before the plan’s annual deductible is reached.
I regularly receive questions from Ask Phil readers about whether Medicare can help pay these employer plan deductibles, and how this process works. Casey Schwartz, a benefits expert at the Medicare Rights Center, provided this explanation:
“Medicare pays secondary to other insurance (including paying in the deductible) in situations where the other insurance is primary to Medicare. There are some restrictions — it has to be a Medicare covered service, and the total amount paid must be equal to or less than the Medicare approved amount.”
If the care costs more than the Medicare-approved amount, she explained, Medicare coverage will cover up to that amount, and the employee would pay the difference if they wanted the care.
Schwartz noted that there is an online Medicare manual explaining rules of how Medicare works as a secondary payer of covered claims. Here is a section that gets to the heart of how it can work with employer group health insurance (GHP):
“Where a GHP is primary payer, but does not pay in full for the services, secondary Medicare benefits may be paid, to supplement the amount it paid for the Medicare covered service. If a GHP denies payment for services because they are not covered by the plan as a plan benefit bought for all covered individuals, primary Medicare benefits may be paid if the services are covered by Medicare. Primary Medicare benefits may not be paid if the plan denies payment because the plan does not cover the service for primary payment when provided to Medicare beneficiaries. “A GHP’s decision to pay or deny a claim because the services are or are not medically necessary is not binding on Medicare. Contractors must evaluate claims under existing guidelines derived from the law and regulations to assure that services are covered by the program regardless of any employer plan involvement.”
If you spend a lot on prescription drugs, you would want to explore getting a Medicare Part D drug plan. You usually need Part B to qualify for Part D. But this is not required if your employer plan’s drug coverage is inferior to a typical Part D plan. This is known as the drug coverage “credibility” test.
If you must pay thousands of dollars out of pocket for your drugs prior to reaching your health plan’s annual deductible, there is a good chance the drug coverage provided by your employer plan would not be considered credible. Employers are legally required under Medicare rules to issue annual statements about the credibility of their drug coverage. It might be possible for you to avoid getting and paying for Part B in this situation, but I’d only recommend this approach if you are comfortable that the bulk of your uninsured health expenses will be for prescription drugs.
It may well be that having employer insurance plus Medicare is not as attractive as simply dropping the employer plan and relying solely on Medicare as your primary insurer. This decision depends on how much your employer subsidizes your health care and on your maximum out-of-pocket expenses in a high-deductible employer plan. Also, if you drop an employer plan, it might not admit you back if you change your mind. These possibilities should be explored with your employer’s benefits experts.
Here are this week’s reader questions:
Roger – Ariz.: Am I not permitted to decline Medicare Part A when applying to receive Social Security benefits? I’m 66, employed, and on my employer’s group health plan (PPO). My employer has said it may move its insurance to a high-deductible health plan, with a health savings account. If I have Part A, am I automatically ineligible for the HSA and employer insurance? If so, would I be eligible for COBRA?
Phil Moeller: You cannot receive any type of Social Security benefit if you are 65 or older without also being enrolled in Part A. For better or worse, it’s the law.
In that event, you would not be able to make contributions to an HSA. Of course, I don’t know if your employer would also offer a non-HSA health plan. If not, it probably would make sense for you to get Medicare rather than signing up for a temporary COBRA extension of your employer plan.
Solomon – Wash.: I cannot understand why dental care is excluded from Medicare. This is something that older Americans need, and we need to begin this conversation NOW!
Phil Moeller: I agree that this is a discussion that we should have, and that it should include hearing and vision insurance as well. Many Medicare Advantage plans offer insurance for these things, but I’m guessing that what you would like is more comprehensive coverage that would allow people to take proper care of themselves and thus avoid many later-life health issues that can be directly traced to their earlier inability to afford needed care.
While the need is great, robust dental coverage for older people is not very attractive from an insurance perspective. When the population skews to people who are older, the need for dental care becomes much greater. For this population, you’re really not talking about a stand-alone insurance product so much as including specified care needs as one of the services that Medicare would cover.
READ MORE: Medicare’s lack of dental, hearing and vision coverage can put seniors in a bind
I’d be willing to pay a bit more for my Part B if it covered dental care. But I bet a lot of consumer groups would argue that the government should foot this bill or that wealthier people should pay higher Medicare rates to subsidize dental care for others. If Medicare did cover dental care, you could expect the dental lobby to push hard for favorable reimbursement rates. From where I sit, this is where the battle would be joined.
Ann: I just turned 65; my spouse is 61. Both of us are currently not working and we purchase insurance on our state exchange. My husband has accepted a job offer and will be eligible for group health insurance next month. Prior to the job offer, I had planned to get Medicare but have not actually signed up. When I went to the Social Security office, they signed me up for Part B of Medicare, even though I was not then 65. What should I do about the month-long gap between me turning 65 and being covered on his new employer plan?
Phil Moeller: You can terminate enrollment in Part B and should do so immediately to avoid being charged a premium. You can get this money back, but it can be a time-consuming process.
Few people know this, but you (and your husband) can keep your exchange plan even after you turn 65. In that event, you would lose any income-related subsidies, but in your case this would be a minor concern because you’re only talking about staying on for another month.
When you eventually do need Medicare, you should have a special enrollment period. At that time, your husband’s employer will need to complete this form, which attests that you have had employer health insurance and thus are qualified for the special enrollment period and will face no adverse consequences when you do enroll in Medicare and related Medicare policies.
Vicky: My parents are 84 and 85. They want to move to Germany where my sister and I can be of more help. My question is, can they tap into their Medicare from there? My dad had Parkinson’s but is still mobile. Is this move feasible?
READ MORE: I’m retiring abroad. What Medicare plan should I get?
Phil Moeller: Unfortunately, basic Medicare will not cover any of their medical expenses in Germany. Some Medicare Advantage and Medigap supplement plans do cover emergency overseas medical expenses, but this coverage is designed for travelers and not permanent overseas residents. If your parents wish to keep their Medicare, they could only use it if they returned to the U.S. for care. Unless they are planning to do so, they probably should drop their Medicare plans. I always advise people to confirm this with their Medicare insurers. Here’s a primer on Medicare for people living outside the U.S. Sorry I don’t have better news. |
Hybrid lithium anodes create more durable, rechargeable batteries | Scientists at Ravishankar Sundararaman at Rensselaer Polytechnic Institute and Lynden A Archer at Cornell University have developed a simple coating that prevents side-reactions between the electrode and electrolyte in rechargeable batteries, according to an article in the journal Angewandte Chemie. The researchers immersed the electrode in an indium salt solution, creating a protective layer that eliminated dendrites and remained smooth and stable over more than 250 cycles. It is hoped the development will lead to more powerful, longer-lasting, rechargeable batteries. | https://phys.org/news/2017-09-hybrid-indiumlithium-anodes-fast-interfacial.html | 2017-09-21 08:52:59.737000 | Novel lithium electrodes coated with indium could be the basis for more powerful, longer-lasting, rechargeable batteries. The coating hinders undesirable side-reactions between the electrode and electrolyte, provide a more uniform deposition of lithium when charging, and augments storage in the lithium anode via alloying reactions between lithium and indium, as reported by American scientists in the journal Angewandte Chemie. Their success stems from the good diffusion of lithium ions along the interfacial layer.
Modern lithium ion batteries usually have graphite anodes that store lithium when the batteries are charged. An interesting alternative is presented by batteries with metallic anodes, such as lithium metal, which promise significantly higher storage capacity. However, a significant hurdle barring their successful implementation has been the uneven deposition of the metal during the charging process, which leads to formation of dendrites. After longer uses of the battery, these dendrites can grow so extensive that they short-circuit the battery. In addition, there are undesirable side-reactions between the reactive metal electrodes and the electrolyte, which significantly reduces the lifetime of the batteries. The formation of a stable, passivating layer that prevents further contact would be an ideal solution; however, it isn't possible because of the constant expansion and contraction of the electrode upon charging and discharging. This destroys the layer and exposes the metal to the electrolyte for more reactions. Other approaches include artificial films or physical barriers.
Researchers working with Ravishankar Sundararaman at Rensselaer Polytechnic Institute (Troy, USA) and Lynden A. Archer at Cornell University have now introduced a novel alternative. By using straightforward electroless ion-exchange chemistry, they produced indium coatings on lithium. Simple immersion in a special indium salt solution is all it takes. Some of the indium is deposited on the surface of the lithium electrode as metal and the lithium ion concentration in the electrolyte simultaneously increases.
The indium layer is uniform and self-healing when the electrode is in use, if small amounts of the indium salt are added to the electrolyte. It remains intact during charge/discharge cycles, its chemical composition remains unchanged, and side-reactions are prevented. Dendrites are also eliminated, leaving the surface smooth and compact.
By using computer modeling, the researchers were able to show why their method is so successful: lithium ions are very loosely bound to the indium coating. They form an alloy with the indium, which allows them to move very rapidly over the surface before they cross it and are deposited on the underlying lithium electrode. In complete cells with commercial cathodes, these new indium–lithium hybrid electrodes were stable over more than 250 cycles, retaining about 90 % of their capacity.
Provided by Wiley |
Snapchat adds 14 companies to its creative partners to drive ROI | Snapchat has partnered with 14 creative companies to focus on the impact of ads that load in its internal browser and help brands boost its ROI. To enhance user engagement in the 'post-swipe' ad experience the firm has linked with Whalar, which matches advertisers with creators to produce scalable content, and Slyce which allows brands to create custom coupons and track redemptions. Other partners that specialise in custom games, interactive videos, haptics and gyroscope, and lead generation include: Flyr; Ceros; Undertone; Famous; Wirewax; Entrypoint; Adludio; TreSensa; GameCommerce; CrossInstall; Jebbit and Popwallet. | http://www.thedrum.com/news/2017/09/20/snapchat-enlists-more-creative-partners-help-brands-drive-roi-when-users-interact | 2017-09-21 08:11:22.613000 | Snapchat has added 14 companies to its roster of creative partners, with the aim of helping brands drive ROI when a user ‘swipes up’ on a vertical ad.
The Venice Beach-based company is forging ties with over a dozen new companies in order to enhance the 'post-swipe' ad experienc
The firm has forged ties with the likes of Whalar which matches advertisers with creators to produce scalable content, and Slyce which allows brands to create custom coupons and track redemption.
The Venice Beach-based company is forging ties with over a dozen new companies in order to enhance the 'post-swipe' ad experience; or in other words ensuring users remain engaged with what is on their screen after they take action on a clickable, vertical ad.
Other partners with specialists in custom games, interactive videos, haptics and gyroscope, and lead generation include: Flyr; Ceros; Undertone; Famous; Wirewax; Entrypoint; Adludio; TreSensa; GameCommerce; CrossInstall; Jebbit and Popwallet.
With the new deals, Snap is focusing on the impact of ads that load in its internal browser. This is something it has already been experimenting with through gamification and interactive experiences, including the recent unveiling of an exclusive Adidas game last week, which let viewers partake in a competitive touchscreen kick-up tournament. In June, the Economist also trialed Snapchat's Attachment format, which facilitates external links and video.
During Snap's most recent earnings call its chief strategy officer Imran Khan claimed that the average cost per-lead on the campaign was £10.28 compared to the £62 norm on other display channels.
The messaging app launched its official partner program last year when it was seriously bulking up its ad offering. Previously creative partners like Vidsy and Celtra have been tasked with producing the visuals people see when Snap Ads are served between Stories or in Discover, but today's announcement marks in a shift in focus in favor of technology that fuels post-swipe experiences.
Snap Inc's most recent financial results fell short of Wall Street forecasts with the company pulling in $182m between March and June of this year. However, in the face of growing competition from the likes of Facebook and Instagram the upstart has remained optimistic about its ad products. |
Amazon said to be exploring move into US drug supply chain | Amazon is expanding its talks with pharmacy benefits managers (PBMs) – the middlemen in the drug industry, according to a report by analysts from Leerink Partners. A move by Amazon to pick up contracts in the sector could pose a significant risk to many of the players across the entire drug supply chain. The report stated that Amazon is a "bigger threat" than many realise; however, it estimated it will take at least 18 to 24 months for Amazon to gain pharmacy licences in all 50 US states. PBMs negotiate drug prices with manufacturers while also managing pharmacy benefits for insurers. | https://www.cnbc.com/2017/09/20/amazon-in-talks-with-pharmacy-benefits-managers-pbms.html | 2017-09-21 08:00:58.727000 | Amazon is ramping up conversations with a group of drug middlemen known as pharmacy benefits managers or PBMs, according to analysts from Leerink Partners. PBMs are a critical part of the drug supply chain, as they negotiate prices with drug manufacturers on one end, and manage pharmacy benefits for insurers on the other.
The report, which was previously spotted by Axios, also outlines the "disruptive" potential posed by Amazon across the multibillion dollar pharmacy benefits and pharmacy arena.
Citing an anonymous analyst, the report states that Amazon may "indeed be in conversations with some middle-market PBMs now, in an effort to get into various contract arrangements."
That suggests that Amazon is a "bigger threat" than many expect, but that it won't be right away. Leerink estimates that it will take about 18 to 24 months for Amazon to get pharmacy licenses in all 50 states.
CNBC reported in May that Amazon was looking to hire a general manager to lead its pharmacy business. And that it had already hired Mark Lyons from Premera Blue Cross, a local insurer, who was tasked with building an internal PBM.
In the ensuing months, analysts and investors asked players across the supply chain were asked about the Amazon threats. Some described Amazon has a potential partner, while others were skeptical that the e-commerce company would move into a highly-regulated space.
-- CNBC's Michael Bloom contributed to this report. |
Oil company Shell still finds Facebook and Google best place for ads | Oil giant Shell is bucking the trend in advertisers frowning upon Facebook and Google's advertising duopoly, and shrugging off recent bad headlines surrounding content placement and inaccurate metrics. Americo Campos Silva, head of digital and social media for Shell, has spotlighted Google-owned YouTube as the place to engage millennial viewers, citing the growing trend of people watching the channel on their living room TVs. Silva also said Google was not entirely to blame for the scandal surrounding ad content placed near extremist content on YouTube, and issues over Facebook's reach won't prevent the company investing in the channel. | https://digiday.com/marketing/shell-rather-pleased-duopoly/?utm_medium=email&utm_campaign=digidaydis&utm_source=uk&utm_content=170921 | 2017-09-21 07:55:01.260000 | Not every advertiser sees YouTube’s brand-safety woes and Facebook’s metric mishaps as chances to openly berate the duopoly. Oil giant Shell is doing the opposite, taking a pragmatic — and sometimes sympathetic — view of both companies’ quandaries.
Between developing a clear strategy for YouTube and running more ads on Facebook, Shell has pinned its colors to the duopoly flag for the foreseeable future. Americo Campos Silva, head of digital and social media for Shell, justified the moves, insisting that Google isn’t entirely to blame for ads appearing next to terrorist videos and criticizing the videos’ creators for avoiding detection using specific tags. Campos Silva also downplayed reports that Facebook falsified the size of its audience and insisted that Shell doesn’t use reach as the main proxy for the success of its ads.
Although Campos Silva’s arguments contrast from the industry’s animosity toward Google and Facebook, Shell was never going to burn bridges to either platform, not when both are key to reaching the millennials who think the oil industry is only about profiting from irreversible damage to the planet. After all, a marketer can only go to so many places to reach those who aren’t watching TV.
YouTube is that place, according to Campos Silva, who is leading a review of how his 40-strong team of marketers build its channel’s subscribers. He declined to share how the team will consistently create content that people will willingly watch, but he revealed Shell is still figuring out the platform’s myriad uses.
“We need to understand exactly what we want to get from YouTube, instead of looking at it as just a warehouse of multiple videos that we upload videos to or as a place to put some ad budget into it in order to generate views,” Campos Silva said. “We have some very good benchmarks on other brands that have produced content for YouTube alongside some influencers that have produced great work.”
From positioning YouTube as the heartbeat of Shell’s content strategy to making content with professional vloggers, Shell will need to consider the risks and rewards these moves pose to its brand before starting to rebuild its strategy. Interestingly, advertising on YouTube is conspicuously absent from YouTube’s renewed focus on the platform, particularly given Campos Silva’s insistence that it has the largest audience for online video.
“I think YouTube’s importance [to Shell] is growing significantly because there is a growing trend of people watching YouTube on the TV in the living room,” he said.
Campos Silva said Shell won’t stop spending on Facebook despite its data conflicting with U.S. census statistics. Earlier this month, Pivotal Research Group senior analyst Brian Wieser highlighted discrepancies between U.S. census data and the potential reach the social network promises advertisers. But having previously headed up Shell’s media buying, Campos Silva deems it OK that Facebook’s reach may not be accurate as long as the same measurement is used each time — reach becomes a barometer, rather than an exact science.
While the majority of Shell’s Facebook ads try to build its brand, they are harder to measure, and direct-response campaigns “are more objective on the way they are measured,” he said.
Campos Silva said what ultimately matters to him is the impact of campaigns rather than their reach. For instance, if Shell pays to reach 10 million people but reaches 9.9 million without sacrificing impact, it’s “not a big problem,” he said. “The issues over Facebook’s reach and whether or not it is as big as they say will not stop us investing in the channel.”
No brand view on the duopoly is irrelevant, but the loudest ones appear to be from legacy industries that are being disrupted the most. Whether it’s Shell (energy), Procter & Gamble (consumer packaged goods) or Restoration Hardware (retail), brands’ comments about the state of the media supply chain seem to be as much about showing shareholders they are innovative businesses as they are about advertising. |
NHS agrees results-based payment for hepatitis C drug | The NHS in England has struck a payment-by-results deal with a pharmaceutical company for the supply of a drug used to treat hepatitis C. It means the manufacturer will only be paid if a patient is successfully cured. The company and the drug have not been named due to commercial confidentiality, but the arrangement was confirmed by NHS England's chief executive, Simon Stevens. If the innovative deal works well, it may be introduced for other costly treatments as the NHS seeks to reduce its £15bn ($20.3bn) annual bill for drugs.
| http://www.dailymail.co.uk/health/article-4876004/NHS-strikes-pay-cure-deal-hep-C-drug.html | 2017-09-21 07:54:30.640000 | The cash-strapped NHS has struck up a 'pay as you cure' deal for a hepatitis C drug as it desperately attempts to save money.
Under the new deal, which is the first of its kind, the National Health Service will only pay for the medication if a patient is successfully cured.
For those who aren't cured by taking the medication, its manufacturer, who hasn't been identified, will cough up and pay the fee.
If it proves successful, the move by NHS England could be adopted for other costly treatments to reduce the nation's drug bill.
Currently, the health service spends more than £15 billion on the range of drugs it provides every year, according to official figures.
It comes amid repeated cuts to the NHS, which has seen various services scrapped in recent months, creating a 'postcode lottery' for many.
Under the new deal, which is the first of its kind, the health service will only pay for the medication if a patient is successfully cured (stock)
The cost-saving move was announced at the NHS Expo conference in Manchester by NHS England chief executive Simon Stevens.
He said cutting back was important for the NHS to reach its 'full potential' by making sure it can afford drugs for future generations.
How common is hepatitis C?
Around 215,000 people in the UK are thought to have hepatitis C, figures suggest. The virus can infect the liver.
TREATMENTS AT RISK Hundreds of people with rare diseases could miss out on vital treatments after the NHS was ordered to consider bankrolling a controversial HIV pill, it was announced last November. Toddlers with cystic fibrosis, deaf children and amputees may now be denied a range of new medical devices and breakthrough drugs. NHS England has a budget of £25million a year for specialised new treatments and equipment for rare diseases. But the Court of Appeal ruling meant up to £20million may be diverted to provide pills for those at risk of HIV infection due to their high-risk sex lives, including up to 5,000 gay men. Critics fear it will encourage 'sexual risk-taking'. The decision put patients at the centre of a price war between a US drugs giant and the NHS, which warned that 'excessively high pricing' of the £4,000-a-year pill could put funding for 13 other treatments in doubt. NHS England had argued it should not have to even consider funding the PrEP treatment, because HIV prevention is not in its remit – insisting local councils should bear responsibility. Advertisement !- - ad: https://mads.dailymail.co.uk/v8/ru/health/none/article/other/mpu_factbox.html?id=mpu_factbox_1 - ->
Left untreated, the condition can lead to potentially life-threatening complications, including cirrhosis or liver cancer.
People contract the virus by coming into contact with the blood of an infected person which can occur by sharing needles, razors or toothbrushes.
NICE advises that patients are given direct-acting antiviral medicines, which can produce results in as little as eight weeks.
The drug in the new deal, which is given to around 10,000 patients a year, and its manufacturer cannot be named due to commercial confidentiality.
Other innovative ways to save money
Delegates at the conference were told of various innovative ways the NHS has come up with to fund the latest treatments and keep the nation's drugs bill down.
Mr Stevens also announced how he hopes to save £300 million a year by 2021 by accelerating the uptake of 'biosimilar' medicines.
Such drugs are cheaper but as equally effective as 'biological' treatments - which mimic substances that humans produce naturally.
NHS figures show that six of the top 10 most expensive medicines prescribed in NHS hospitals are biological products.
At the conference, Mr Stevens also announced a £700,000 investment for auditory brainstem implants - which help to restore hearing in some deaf children. |
Oil and gas companies in South China Sea at risk | The increased willingness by China to use military threats in the South China Sea, as shown with the incident in July over Spain's Repsol, reveals how oil and gas companies with interests in the disputed zone are increasingly at risk. These companies, if they ignore demands by China, may face harassment, exclusion from the Chinese market as well as threats to staff, according to Verisk Maplecroft. The Beijing government's use of military retaliation is "a worrying escalation" which could further pressurise future business dealings, warns Verisk Maplecroft's Hugo Brennan. | https://www.cnbc.com/2017/09/20/beijings-military-threats-in-south-china-sea-worrying-for-companies.html | 2017-09-21 07:37:00.317000 | That was the case for Spanish energy firm Repsol . In July, its subsidiary Talisman-Vietnam was ordered by Hanoi to stop gas drilling in a China-claimed area after Beijing warned the Southeast Asian country that it would attack bases if operations continued.
As the world's second-largest economy threatens military action in the South China Sea, oil and gas players with interests in the disputed zone are put in a bad place.
Map courtesy of Stratfor.
President Xi Jinping's administration's use of military retaliation is "a worrying escalation" and could result in further , said Hugo Brennan, Asia analyst at Verisk Maplecroft, in a Wednesday note.
Companies that have interests or operations in blocks licensed by Southeast Asian governments but located within China-claimed waters are likely to face pressure from Beijing, according to Brennan.
There are many overlapping claims in the region. China relies on a concept known as the nine-dash line to mark its territorial claims — a massive area that extends roughly 1,000 miles from its southern shores — in the South China Sea. But Vietnam, the Philippines, Malaysia, Brunei and Taiwan also assert sovereign rights over parts of the international waterway, which is rich in resources and boasts key maritime routes.
Against that backdrop, firms licensed by other countries to operate in disputed ares will face Chinese protestations. Any company ignoring those would likely face consequences such as on-site harassment, de facto exclusion from the Chinese market and even implicit threats to company staff and assets, Brennan said. experienced the latter option in 2007, he added.
"Operators also have to analyse the resolve of Southeast Asian governments to stand up to China. Otherwise, companies with rights to develop blocks or fields in contested waters may find that they are prevented from exercising them as host government become wary of rocking the boat."
The next potential flash-point could be Vietnam's Red Emperor oil and gas field, also called Ca Rong Do. Repsol is active in the project, which is located within China's nine-dash line, and drilling is slated for 2019. But in light of Chinese threats, it remains to be seen how much progress the Madrid-based firm will make, Brennan said. |
Powerhouse Ventures to sell quarter of its Invert Robotics stake | New Zealand technology incubator Powerhouse Ventures aims to sell a quarter of its stake in Invert Robotics for NZD1.3m ($1m), in a deal subject to the completion of a pre-emptive shareholder process and co-sale rights. The move is in line with Powerhouse's policy of reducing its holdings in firms that grow beyond their seed stage. Chairman Russell Yardley said the sale would result in a profit above Invert's current book valuation and introduce "new institutional and sophisticated investors" to the firm.
| http://www.sharechat.co.nz/article/62e5c949/powerhouse-plans-to-sell-down-invert-robotics-stake-for-1-3-mln.html | 2017-09-21 07:35:17.887000 | Christchurch-based technology incubator Powerhouse Ventures plans to sell about one-quarter of its holding of Invert Robotics for $1.3 million, a premium to its book value.
In a release to the ASX, the company said it had been approached during Invert's current financing round. At present, it owns 34.6 percent of the company and the sale would reduce that to between 23.6 percent and 28.2 percent of the shares.
The deal is conditional to completing a pre-emptive shareholder process and co-sale rights under the shareholder agreement it has with Invert, which will determine its holding after the sale, it said. It will take at least one month to complete.
Powerhouse said the sale would result in a profit above its current book valuation of Invert. Chair Russell Yardley said the sale would introduce "new institutional and sophisticated investors" to Invert ahead of further capital raising to fund the robotics firm's expansion into European dairy and aviation.
"Generally, Powerhouse Ventures aims to own between 20 to 40 percent of its investee companies prior to their expansion rounds when they grow to become 'post-seed stage' companies," the company said. "Invert has now reached this point and has in place the necessary governance and funding arrangements to succeed."
Powerhouse shares recently traded at 30 Australian cents on the ASX, down 62.5 percent this year. It listed last year with an initial public offering price of A$1.07.
Last month the company said it was adjusting its investment portfolio after a review found a number of companies didn't follow Powerhouse's investment strategy.
(BusinessDesk)
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Chinese firm reveals drones equipped with anti-tank missiles | Chinese drone-maker Tengoen has unveiled a new generation of armed reconnaissance unmanned aerial vehicles (UAVs) equipped with anti-tank missiles at the 14th China-Asean Expo in Nanning, Guangxi province. The UAVs include the TB001 Twin-Tailed Scorpion, which Tengoen has described as the only Chinese-made twin-engine, twin-boom unmanned aerial system in production. The TB001 is 33 ft long and can fly for 35 hours over a distance of 3,700 miles. At present China lags behind other major military powers in drone warfare and has been exploring its options for catching up.
| https://sputniknews.com/military/201709211057569557-chinese-military-drones-new-generation/ | 2017-09-21 07:31:29.307000 | The TB001 is 33 feet long and has a wingspan of twice that. It can fly for 35 hours and travel over 3,700 miles in that time. It is optimized for satellite control as well as an electro-optical targeting sensor. It can also be equipped with armaments, such as small missile launchers, for a total of 220 pounds of ordnance. A mock-up at the UAV show depicted the TB001 equipped with eight anti-tank Norinco Blue Arrow missiles, each weighing 100 pounds.
Also showcased was the TA001, a single pusher-engine UAV meant to carry lighter ordnance. It was about half the size of the TB001. |
Tencent to invest $366m in Chinese investment bank CICC | China International Capital Corp's (CICC) shares surged on news that Tencent will invest HKD2.86bn ($366.6m) in the investment bank for a 4.95% stake. The two will also work together in a strategic partnership. Tencent is no newcomer to financial services, it offers customers loans and banking services via subsidiaries WeBank and Qian.qq.com, owns China's second largest digital payments service and backs the country's first online-only insurer ZhongAn. Another Chinese internet firm eyeing financial services is JD.com, said to be in talks last week to buy a 24% stake in brokerage First Capital Securities worth roughly $1.5bn. | https://www.chinamoneynetwork.com/2017/09/21/tencent-acquire-5-chinese-investment-bank-cicc-bet-financial-services | 2017-09-21 07:14:47.843000 |
Tencent Holdings Ltd. has agreed to invest HK$2.86 billion (US$367 million) in China International Capital Corp Ltd (CICC) for a 4.95% stake in the company. At the same time, the two parties said they have agreed to establish a strategic partnership in a range of services and products leveraging Tencent’s financial technology and CICC’s wealth management capabilities, according to a joint announcement.
The move is another major bet on China’s financial services industry by social networking and gaming giant Tencent. Tencent’s current financial services offerings include loan and wealth management via its WeBank and Qian.qq.com units, while its third-party payment platform Tenpay is currently the second largest digital payment service in China, following market leader Alibaba-controlled Alipay. The company is also a backer of China’s first Internet only insurer ZhongAn Online and online peer-to-peer lender Renrendai, and has invested in brokerage firms Futu Securities and Huatai Securities.
"Tencent looks forward to cooperating with CICC, a leading investment bank in China, in a range of services and products, including providing CICC with our advanced FinTech, and leveraging CICC’s wealth management capabilities to better serve our users," said Martin Lau, president of Tencent.
The deal sees Tencent Mobility Limited, a wholly-owned subsidiary of Tencent Holdings, acquire 207.5 million newly issued H shares of CICC for HK$13.8 per share, which represents a discount of about 10.97% to CICC’s closing price of HK$15.5 yesterday. The Tencent unit will own 12.01% and 4.95% of the total issued H shares and the total issued shares of CICC respectively on a fully diluted basis after the completion of the deal, which is pending regulatory approval.
Founded in 1995, CICC’s main businesses include investment banking, equities, wealth management and investment management. The Beijing-based company operates over 200 securities branches in 19 cities with overseas presence in New York, Singapore and London, in addition to Hong Kong. The company listed on the Hong Kong Stock Exchange in 2015. |
Redrow Redrow approaches 'end of an era' at Buckshaw Village development | Redrow Homes now has only 12 properties left at its Buckshaw Village development, near Chorley in Lancashire, while at nearby Whittle-le-Woods there are only three homes still for sale. Redrow was one of two lead developers that transformed the site of a former Royal Ordnance factory into Buckshaw Village. Redrow launched its first homes for sale in the village in 2003 and has since been responsible for 1,270 of the 3,000 homes that now make up the site. The final development on the site is West Point, which has 21 properties, nearly half of which are sold
| http://www.easier.com/137311-two-landmark-chorley-developments-coming-to-an-end.html | 2017-09-21 07:08:46.793000 | Two landmark Chorley developments coming to an end
With only a dozen properties left to sell at West Point, Redrow Homes is approaching the ‘end of an era’ at Buckshaw Village, near Chorley, while only three new homes remain a few miles away in Whittle-le-Woods.
Interestingly, these two developments are linked by wartime history as well as by location and by Redrow.
Buckshaw Village has totally transformed the site of the former Royal Ordnance Factory (ROF Chorley), while the public open space area of Lucas Green contains a Grade II listed pillbox and light anti-aircraft gun emplacement that’s been restored and preserved by Redrow. It was originally built to defend ROF Chorley against enemy attack during World War Two, both from the ground and from the air.
Today these two locations are sought-after residential areas, with buyers vying to secure the final homes.
Redrow was one of two lead developers whose vision helped shaped Buckshaw Village almost two decades ago.
Redrow launched its first homes for sale here in 2003 and since then has been responsible for 1,270 of the circa 3,000 homes that make up this thriving community today.
West Point, a development of just 21 properties, is the final piece of the puzzle and, with nearly half of them sold, would-be customers have just 12 more chances to own a Redrow home at Buckshaw Village.
There are a mix of two, three and four-bedroom properties with current prices from only £154,995 to £224,995. They’re conveniently close to some of Buckshaw Village’s key amenities including the Tesco superstore and new railway station.
It’s features like these, as well as schools, bars, restaurants, shops, a doctors’ surgery, community centre and a business park supporting 10,000 jobs, that have made redevelopment of the former Royal Ordnance Factory such a resounding success.
And it’s a success that prompted Chorley MP and Deputy Speaker of the House of Commons, Lindsay Hoyle, to say recently: “It proves what you can do with a big piece of land, the right vision and the right investment, to deliver a long-term future.
“Everything was brought together on this one site. This is a real village where people can live and work.”
During its lifespan, Buckshaw Village has featured a wide variety of homes from Redrow’s portfolio to suit every kind of buyer, including Arts & Crafts inspired family homes, bespoke apartments and contemporary first time buyer properties.
These final homes at West Point are based on Redrow’s Regent Collection, with Georgian influenced exteriors and contemporary interiors. The remaining properties can all be ready to move into before Christmas.
Meanwhile, those seeking a larger home and the Arts & Crafts inspired architecture of Redrow’s popular Heritage Collection, may find the answer at Lucas Green in nearby Whittle-le-Woods.
There too, only a small number of properties remain for sale due to the development’s outstanding success. In fact, there’s just a trio of detached homes to bring Lucas Green to a close; a decidedly spacious three-bedroom Worcester at £319,995 and four-bedroom Oxford and Sunningdale styles, at £324,995 and £409,995 respectively. Those who reserve now can move into their new home next spring.
To find out more about Lucas Green, visit redrow.co.uk/lucas; for information on the final West Point homes, visit redrow.co.uk/westpoint. Sales offices at both locations are open Thursday to Monday inclusive from 10am to 5.30pm, with a fully furnished Finsbury show home available to view at West Point. |
US government buys 75 FirstLook robots from Endeavor Robotics | Endeavor Robotics has won a contract with the US government for 75 of its FirstLook robots, the third major contract it has secured with the government in six weeks. FirstLook robots serve the military, law enforcement and energy industries by reducing human exposure to potentially lethal situations. The robots, which move on treads, perform reconnaissance missions, clear buildings and detect explosive devices using day and night vision cameras and two-way audio. Operators control the robots remotely, and the lightweight yet robust machines can be thrown or dropped from up to 15 feet without becoming damaged. | https://www.therobotreport.com/endeavor-robotics-wins-government-contract-75-firstlook-robots/ | 2017-09-21 06:25:41.740000 | Endeavor Robotics secured a contract with the U.S government for 75 of its FirstLook robots, its third major contract with the government in six weeks.
“FirstLook is the most preferred lightweight reconnaissance robot in its class because of how easily and quickly it can be deployed while withstanding the abuse of ground operations,” president Tom Frost said in a press release. “It gives me great pride to know that we are doing our part each and every day to reduce human exposure to potentially lethal situations.”
The five-pound robot, which moves on treads, serves the military, law enforcement and energy industries and performs reconnaissance missions, clears buildings and detects IEDs using day/night cameras and two-way audio. Operators control the robot with a remote, and the machine can be thrown or dropped from 15 feet onto concrete without being damaged.
In August, the company received a $15 million order from the government for upgrades and accessories to support robotic systems already in use. Earlier in the month, the government purchased 32 small unmanned ground vehicles with the Endeavor Robotics uPoint Multi-Robot Control System, which decreases on-robot training time using technology and tablet-based user-interfaces.
“We are proud to respond to the needs of our customers,” CEO Sean Bielat said in a statement. “We are a highly responsive, customer-focused, agile company that stands positioned to rapidly provide upgrades, accessories, and new platforms whenever called upon by our customers. We remain ready 24/7 to meet the needs of our valued customers, helping them place distance between themselves and the incredible hazards that they bravely face each day.” |
Robots displace 400 Spanish workers at farm produce supplier | The introduction of robots at Spanish farm produce supplier El Dulze has reduced its human workforce from 500 to just 100. “This business has traditionally been labour intensive but today labour is increasingly unavailable", said managing director José Sánchez. "Reducing the amount of people has made everything more hygienic and damage to the lettuces caused by handling is now minimal”, he said. The 68 robots are able to sort around 550,000 lettuces per day, and have reduced the number of rejected lettuces by approximately 15%. | https://roboticsandautomationnews.com/2017/09/19/spanish-farm-produce-supplier-reduces-human-workers-from-500-to-100-using-robots/14148/ | 2017-09-21 06:21:38.117000 | Spanish farm produce supplier El Dulze has reduced its human workforce from 500 down to just 100 with the use of robots, according to a report on FruitNet.com.
The company is said to be using Fanuc robots – LR Mate 200iB models – which use vision systems to even out the production line so the vegetables are not bunched up too close together for packing.
The robots also appear to be picking heads of lettuce and placing them in containers, or plastic packaging.
A total of 68 robots have been installed at the El Dulze facility in Murcia, and they process approximately 550,000 heads of lettuce every day.
The robotic system is also said to have reduced rejects from 20 per cent to 5 per cent, mostly due to improvements in hygiene and handling.
Managing director José Sánchez is quoted by FruitNet.com as saying: “This business has traditionally been labour intensive but today labour is increasingly unavailable.
“This region has a major shortage of labour – many workers in the industry are immigrants but this hasn’t solved our problem.
“As minimal skill is needed we have a real problem with labour and turnover of these workers is high – they just seem to come and go.
“Reducing the amount of people has made everything more hygienic and damage to the lettuces caused by handling is now minimal.”
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German insurtech ONE inks partnership with Munich Re | German insurtech ONE has entered into a partnership with Munich Re, the world's largest reinsurance company. Terms of the nature of the partnership were not announced, though Munich Re says it came after surveying the insurtech landscape and represents the firm moving into new digital channels. ONE is an online on-demand insurer that aims to provide customers with fast access to coverage and the flexibility to retain coverage only when needed. It also seeks to reward customers for giving back to their communities. It plans to launch this autumn in Germany, Switzerland and Austria. | https://www.openpr.com/news/728882/Munich-Re-and-insurance-startup-ONE-announce-strategic-partnership.html | 2017-09-21 05:52:00.940000 | Munich Re and insurance startup ONE announce strategic partnership
http://www.one-insurance.eu
BERLIN, 20th September 2017 – ONE, the fully digital and shortly to be launched insurance provider, today announced a strategic partnership with Munich Re, world‘s largest re-insurance company.“Munich RE is screening the insurtech horizon systematically and we’ve picked ONE as a partner, in which ambitions and potential we sustainably believe. Our partnership is the start of an exciting collaboration in new methodologies and technologies of the digital world”, says Tobias Sonndorfer, Client Executive at Munich Re and board member of ONE.„We are very glad to be supported by Munich Re, this is strong evidence for our business case going the right way. Another fundamental milestone after having received the regulatory permission recently”, Stephan Ommerborn, CEO of ONE, states.Details of the strategic partnership have not been disclosed.About Munich ReMunich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. In the financial year 2016, Munich Re (Group) achieved a profit of €2.6bn on premium income of €48.9bn. It operates in all lines of insurance, with more than 43,000 employees throughout the world. With premium income of €27.8bn from reinsurance alone, Munich Re is one of the world´s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after business partner. Roughly 12,000 staff in reinsurance possess unique global and local knowledge. Munich Re attaches great importance to its client service, which regularly receives top ratings.About ONEONE is Europe´s first fully digital and licensed all-round insurance carrier. Users can complete insurance policies within a few minutes, starting with household and liability insurance. ONE has been founded by Julian Teicke, CEO of wefox-Group and founder of wefox, a leading insurance platform, and by Stephan Ommerborn, formerly an Executive at Zurich Insurance Group. The digital insurance carrier will officially launch in autumn 2017 - starting with Germany, Austria and Switzerland.PresscontactAlexander [email protected] Services GmbHUrbanstr. 71, 10967 Berlin |
UK scientists create molecule-building microscopic robots | University of Manchester scientists have created molecular robots that can build other molecules in a process hailed as a world first. The microscopic robots are a millionth of a millimetre in size and composed of just 150 carbon, hydrogen, oxygen and nitrogen atoms. They can be programmed to move and build molecular cargo using a tiny robotic arm. The robots operate by performing chemical reactions in special solutions, which are controlled and programmed by scientists. Molecular robots could be used for medical purposes and advanced manufacturing processes as well as building molecular factories and assembly lines. | https://phys.org/news/2017-09-scientists-world-molecular-robot-capable.html | 2017-09-21 05:38:19.770000 | Artist's impression of the molecular robot manipulating a molecule. Credit: Stuart Jantzen, biocinematics.com
Scientists at The University of Manchester have created the world's first 'molecular robot' that is capable of performing basic tasks including building other molecules.
The tiny robots, which are a millionth of a millimetre in size, can be programmed to move and build molecular cargo, using a tiny robotic arm.
Each individual robot is capable of manipulating a single molecule and is made up of just 150 carbon, hydrogen, oxygen and nitrogen atoms. To put that size into context, a billion billion of these robots piled on top of each other would still only be the same size as a single grain of salt.
The robots operate by carrying out chemical reactions in special solutions which can then be controlled and programmed by scientists to perform the basic tasks.
In the future such robots could be used for medical purposes, advanced manufacturing processes and even building molecular factories and assembly lines. The research will be published in Nature on Thursday 21st September.
Professor David Leigh, who led the research at University's School of Chemistry, explains: 'All matter is made up of atoms and these are the basic building blocks that form molecules. Our robot is literally a molecular robot constructed of atoms just like you can build a very simple robot out of Lego bricks. The robot then responds to a series of simple commands that are programmed with chemical inputs by a scientist.
'It is similar to the way robots are used on a car assembly line. Those robots pick up a panel and position it so that it can be riveted in the correct way to build the bodywork of a car. So, just like the robot in the factory, our molecular version can be programmed to position and rivet components in different ways to build different products, just on a much smaller scale at a molecular level.'
The benefit of having machinery that is so small is it massively reduces demand for materials, can accelerate and improve drug discovery, dramatically reduce power requirements and rapidly increase the miniaturisation of other products. Therefore, the potential applications for molecular robots are extremely varied and exciting.
Prof Leigh says: 'Molecular robotics represents the ultimate in the miniaturisation of machinery. Our aim is to design and make the smallest machines possible. This is just the start but we anticipate that within 10 to 20 years molecular robots will begin to be used to build molecules and materials on assembly lines in molecular factories.'
Whilst building and operating such tiny machine is extremely complex, the techniques used by the team are based on simple chemical processes.
Prof Leigh added: 'The robots are assembled and operated using chemistry. This is the science of how atoms and molecules react with each other and how larger molecules are constructed from smaller ones.
'It is the same sort of process scientists use to make medicines and plastics from simple chemical building blocks. Then, once the nano-robots have been constructed, they are operated by scientists by adding chemical inputs which tell the robots what to do and when, just like a computer program.'
More information: Salma Kassem et al, Stereodivergent synthesis with a programmable molecular machine, Nature (2017). DOI: 10.1038/nature23677 Journal information: Nature |
Moneymailme to hold ICO for its social payments app | London-based social payment app company Moneymailme will launch an initial coin offering (ICO) in October to fund its blockchain-based platform, the Modex Marketplace. Constructed on the Ethereum blockchain, the platform will offer application programme interfaces and user-friendly apps as a technical bridge to a variety of businesses and sectors, and is set to launch in Q1 2018. The ICO will run for 30 days or until its cap is reached.
| http://www.paymenteye.com/announcements/global-social-payment-app-moneymailme-announces-blockchain-platform-and-ico/ | 2017-09-21 05:02:27.087000 | Groundbreaking blockchain platform launch is imminent
Social payment app Moneymailme announces development of a new blockchain platform called Modex Marketplace, a platform designed to bring the benefits of blockchain technology into everyday life.
Connecting developers with applications and companies to deploy smart contracts into the real world.
Modex ICO, to commence in October with the Modex platform launch to follow in Q1 2018.
Early indications of participants enthusiasm robust on Modex despite calls for caution on ICO offerings.
The award-winning fintech social payment app company Moneymailme announces today that Modex — its smart contract marketplace — will open to a wider investment base with its much-anticipated ICO scheduled for early October.
Modex aims to bridge the gap between businesses and developers, in order to vastly accelerate global adoption of blockchain technology. Given the emerging norm for ‘borderless’ transactions, distributed ledger technology (aka the Blockchain) has opened the door for a new world of “data exchange”, facilitated through Smart Contracts.
Mihai Ivascu, Moneymailme CEO and founder, stated in London: “Moneymailme’s next chapter centres on Modex Smart Contract Marketplace, the infrastructure needed to integrate blockchain capabilities with apps like ours. The fact that we’ll be packaging and delivering the platform with our financial partners who’ve developed practical uses for the tool in the UK and rest of Europe is really exciting. Modex is a game-changer. Frankly, the Modex team has even surprised itself.”
Designed to serve as a central hub for multiple 3rd party applications and web platforms to plugin with and deploy smart contracts, Modex Marketplace will incorporate significant advantages for consumer adoption, enterprise cost savings, developer tools, community trust & engagement, IP protection, and revenue opportunities for developers, all centered around our smart contract ecosystem.
The infrastructure will initially be built on top of the Ethereum blockchain protocol and will eventually incorporate emergent protocols that also support smart contracts. Ethereum is by far the most trusted, and widely used smart contract platform making it an obvious place to start.
The Modex team brings together some of the most experienced individuals from across Europe, North America, and Asia with specialized talent in financial, security and blockchain development, and senior experience at Fortune 100 companies such as Oracle, and IBM. The team is tasked with building a one-stop solution for value- based transactions within the Modex ecosystem. This includes an all-in-one stop for developers and buyers of blockchain-based smart contracts, and an infrastructure to facilitate widespread deployment.
Strategically timed for an October opening, the Modex ICO will last for 30 days or until its cap is reached, which may be as short as three days according to some experts in initial coin offerings. Precise dates will be announced shortly. Modex implementation is programmed to begin in late December 2017 with the official launch in Q1 of 2018.
Modex ICO funding will enable and advance development of its blockchain-based ecosystem of solutions, addressing key use-cases to help individuals, corporations, and organisations evolve and broaden their scope of services.
Modex infrastructure is moving toward providing easy and user-friendly access to cryptocurrency adoption and smart contract deployment. Based on the Ethereum blockchain, and over time other blockchain protocols, Modex is preparing to offer application program interfaces (APIs) and user-friendly apps that act as the technical bridge to achieve numerous implementations across a wide spectrum of companies and projects.
What is a smart contract?
A smart contract is a computer protocol intended to facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts were first proposed by Nick Szabo in 1996. Proponents of smart contracts claim that many kinds of contractual clauses may be made partially or fully self-executing, self-enforcing, or both. Smart contracts have been used primarily in association with cryptocurrencies. The most prominent smart contract implementation is the Ethereal blockchain platform, where they are known as a decentralised application.[1]
A Word on Blockchain
Blockchain technology is rapidly emerging as the singularly most promising next-generation norm for enabling industries and companies to instantaneously conduct and verify financial transactions on a network without a central authority. Traditionally, banking and payment transactions have relied on a central authority or “middleman” for making or enabling payments. This will soon be nostalgia!
Organisations and companies worldwide are deepening on a daily basis their understanding of blockchain and are migrating progressively to blockchain solutions that implement the advantages that the technology is offering.
On a global scale, more countries are introducing cryptocurrency rules heeding calls for regulatory environments which facilitate responsible adoption. The importance of cryptocurrencies and their role in the new economic paradigm is pushing this adoption, while the social and economic benefits of cryptocurrencies and blockchain applications are fast becoming clear and accessible.
The Ethereum infrastructure provides the technological foundation to create decentralised applications. Social and economic inclusion will be one of the most widely felt benefits of such decentalisation, and access to the framework of easy-to-use tools such as the Modex platform will drive adoption and implementation.
Given the major changes in a complex landscape such as payments, the adoption of blockchain technology comes with several natural challenges, notably integration concerns and costs. There are a variety of use-cases for companies and organisations to apply blockchain technology. Each well-implemented scenario should result in faster, cheaper transactions, with greater transparency and unprecedented security.
[1] https://en.wikipedia.org/wiki/Smart_contract |
Nest Labs creates facial recognition-enabled doorbells | Alphabet-owned Nest Labs is hoping the launch of its new doorbell, which uses Google's facial recognition technology, will help it finally turn a profit. The Hello doorbell, part of Nest's Secure system, has a camera and speakers to alert homeowners of visitors, while the technology quickly identifies people whose details have been manually tagged by the user. Apple's recently launched $1,000 iPhone X uses similar facial recognition technology as an unlocking method. | https://phys.org/news/2017-09-labs-doorbell-familiar.html | 2017-09-21 04:23:50.060000 | Michelle Turner, general manager of security products for Nest Labs, talks about the Hello doorbell during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago. (AP Photo/Eric Risberg)
Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses.
The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago.
Although Nest has been among the early leaders in the effort to make home appliances as intelligent as people's smartphones, it hasn't been able to make money to the frustration of its corporate parent, Alphabet. In an attempt to shake things up, Alphabet brought in cable industry veteran Marwan Fawaz to replace Nest founder Tony Fadell as CEO after Fadell stepped down 15 months ago.
Nest had been supplementing its existing product line with slightly different choices until Wednesday's move into entirely new categories.
The Hello doorbell comes with a built-in video camera and speakers that will make it seem like it can recognize and talk to people.
The doorbell will draw upon Google's facial recognition technology so it can warn a home's occupants when a stranger approaches. Google bought Nest for $3.2 billion in 2014 and then spun it off after it hatched Alphabet as its parent company.
Michelle Turner, general manager of security products for Nest Labs, talks about the facial recognition features of the Hello doorbell during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago. (AP Photo/Eric Risberg)
Nest is now lumped into a group of risky companies venturing into new areas of technology that have collectively lost $10.6 billion during the past three-and-half years alone. Alphabet hasn't disclosed how much Nest has contributed to it the losses in its "Other Bets" segment
Nest isn't announcing a price for its new doorbell until it hits the market sometime during the first three months of next year.
Google's facial recognition technology is coming to the doorbell a few months after Nest introduced a more sophisticated indoor security camera featuring the same tool. Nest also announced Wednesday that the same facial recognition tools will be deployed on an outdoor security camera that will cost $349.
Michelle Turner, general manager of security products for Nest Labs, talks about the Hello doorbell during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago. (AP Photo/Eric Risberg)
Apple is implanting a different form of facial recognition into its $1,000 iPhone X to unlock the device, telegraphing a future where cameras increasingly are going to be able to identify people within its lens' range. The new phone will be released in November.
Nest's usage of facial recognition hasn't yet sparked privacy concerns because it doesn't tap into Google's vast database of photos to automatically recognize people. Instead, a user of the Nest camera or doorbell must manually tag and name people before the device recognizes someone.
The Nest home security system is being billed as a simpler and more convenient way to protect a home than the alarms and other kinds of sensors that have long been sold by other vendors. Nest's "Secure" system will sell for $499 for its basic toolkit of devices.
The Nest Labs Hello doorbell is displayed during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago. (AP Photo/Eric Risberg)
The features of the Nest Labs Hello doorbell are demonstrated during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago. (AP Photo/Eric Risberg)
Michelle Turner, general manager of security products for Nest Labs, demonstrates the facial recognition features of the Hello doorbell during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. (AP Photo/Eric Risberg)
Michelle Turner, general manager of security products for Nest Labs, talks about the camera features of the Hello doorbell during an event Wednesday, Sept. 20, 2017, in San Francisco. (AP Photo/Eric Risberg)
Matt Rogers, founder and chief product officer of Nest Labs, summarizes their newest products during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago. (AP Photo/Eric Risberg)
Maxime Veron, head of product marketing for Nest Labs, talks about the features of the Nest Secure alarm system during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago. (AP Photo/Eric Risberg)
Nest Labs CEO Marwan Fawaz talks about the security their products provide during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago. (AP Photo/Eric Risberg)
The Nest Secure alarm system is seen on display during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago. (AP Photo/Eric Risberg)
Photographers take pictures of the Nest Secure alarm system and Hello doorbell during an event Wednesday, Sept. 20, 2017, in San Francisco. Home device maker Nest Labs is adding Google's facial recognition technology to a camera-equipped doorbell and rolling out a security system in an attempt to end its history of losses. The products announced Wednesday expand upon the internet-connected thermostats, smoke detectors and stand-alone security cameras that Nest has been selling since its inception six years ago. (AP Photo/Eric Risberg)
© 2017 The Associated Press. All rights reserved. |
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