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Time to Modernize Medicaid’s Broken Waiver Process
 For all the attention on various ways to improve Medicaid’s finances and sustainability in recent months, another key area of Medicaid policy that deserves focus is improving the state waiver process. With all the recent calls for bipartisanship, this should be an area where Democrats and Republicans can work together to improve the program.

Medicaid is a state-federal partnership and a critically-important safety net for millions of our nation’s most vulnerable patients. The program dates back to the Great Society era and will cover up to 98 million people and cost taxpayers more than $600 billion this year alone.

The Center for Medicare and Medicaid Services’ new administrator, Seema Verma, has a deep background as a Medicaid reformer, and has the unique opportunity to improve the critical program.

Since the creation of Medicaid, the secretary of Health and Human Services has been allowed to waive longstanding provisions of the Medicaid statute. Today, Medicaid waivers are widespread, with virtually all states using waivers to test pilot programs and demonstration projects or enroll patients in managed care or home and community-based services.

In fact, roughly $1 in every $3 spent under a 1115 waiver and some 7 in 10 enrollees receive their care through a private managed-care plan, often through a managed care waiver. In fact, several state Medicaid programs operate almost entirely under a waiver.

Despite the prevalence and normalcy of Medicaid waivers, the process for states obtaining waivers is needlessly long, cumbersome, and uncertain.

Take my home state of Kentucky for instance. Under the leadership of Gov. Matt Bevin, Kentucky has applied for a waiver to create some flexibility and new policies that are specific to Kentuckians’ needs. The waiver application includes requiring a sliding scale for premiums ranging from $1 to $15 and some work requirements for Medicaid beneficiaries. These reforms would give recipients the opportunity to work themselves off the program — a groundbreaking idea that, if successful, could serve as a template for other states that want to help people better themselves and transition off the program. Unfortunately, it has been two years and the waiver has not been approved.

An analysis in 2014 found that CMS takes more than six months to approve a waiver — with some waivers waiting more than a year for approval. In recent years, it took CMS as long as two full years to process a state waiver the agency ultimately approved. Unfortunately, the real total time frame for a state to receive approval is even longer than these tallies suggest, since official waiver requests are often only submitted for approval after significant preliminary conversations and pre-negotiations with CMS staff.

We need to streamline the waiver process and grant states more flexibility to do the important work of caring for their populations.

While the glacial pace for waiver review may just be “business as usual” for Washington bureaucracy, it represents an unacceptable time frame that impedes state innovation and sound program management. The lengthy review process effectively prioritizes bureaucratic processes over vulnerable beneficiaries who often receive better care through state initiatives allowed under a waiver.

Part of the problem is the “Mother, may I?” mentality within CMS that forces states to repeatedly ask permission for even the most banal and routine changes to Medicaid programs. This mindset is likely due in large part to the fact that few of the nearly 400 staff at the Centers for Medicaid and CHIP Services have ever worked for a state Medicaid program, a health care provider, or a managed care plan.

CMCS’ composition may suggest that CMS institutionally faces important limitations, because individual staff lack an important point of view — the first-hand knowledge about health care operations, which could ultimately better inform the decisions they are asked to make.

Compounding their lack of first-hand experience, the CMS bureaucracy has at times done a poor job of evaluating waivers that receive approval or learning from successful state efforts. While states are required to conduct their own review of waivers, it is not clear how CMS may be using — or ignoring — state conclusions about successful models. CMS’s website shows only a handful of state-specific and cross-state evaluations that the agency has conducted over the last 20 years.

Even though CMS has a contracting vehicle for “analytic support and technical assistance for models and demonstration programs,” when CMS tried to examine state-specific demonstration projects, the agency has not always given states fair treatment. For example, in one recent case, CMS allowed a subcontractor to review a state’s waiver — even though that same subcontractor was on record criticizing elements of the same waiver.

With a regulatory process like this, it’s little wonder state leaders are warning that managing paperwork to meet CMS demands consumes limited resources that would be better invested in managing the program to serve patients. Some have called for a fundamental overhaul of Medicaid waivers themselves.

A nonpartisan group of the nation’s Medicaid directors recently asked Congress to “provide flexible options for states to streamline waiver authorities,” saying the problem is that “states must patch together numerous waiver authorities and coordinate the siloed federal funding streams for these various services and programs.”

Echoing this frustration, governors have underscored the need to fundamentally rethink the role waivers play, noting the 1115 waiver process is not sufficient to enable effective state management of the Medicaid program. In recent months, several governors have called for amending the law on Medicaid waivers.

This is an area of Medicaid policy that holds bipartisan promise, and I look forward to working together to adopt commonsense reforms to make the waiver process more efficient, predictable, and fair for states. Administrator Verma is taking action to clean up the bloated bureaucracy, but addressing the waiver process will require an act of Congress.

Rep. Brett Guthrie (R-Ky.) is vice chairman of the House Energy and Commerce Health Subcommittee.

Morning Consult welcomes op-ed submissions on policy, politics and business strategy in our coverage areas. Updated submission guidelines can be found here.

Output: For all the attention on various ways to improve Medicaid’s finances and sustainability in recent months, another key area of Medicaid policy that deserves focus is improving the state waiver process. With all the recent calls for bipartisanship, this should be an area where Democrats and Republicans can work together to improve the program.


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Google and youth organisation 4-H to teach coding in 22 US states
 Computer Science

Google and 4-H to Establish Coding Program in 22 States

Google has offered up a $1.5 million grant to 4-H, the largest youth development organization in the country, to help establish a computer science program in 22 states.

4-H has taught environmental science and engineering concepts to nearly 6 million youth since 1902, according to the organization. Now, through the partnership with Google, the organization is expanding its programs to teach youth — particularly in areas that lack access to technology — essential technical skills like coding, as well as soft skills like teamwork and resilience.

The goal is to equip today’s learners with skills needed for careers that use computer science, since there will only be approximately 400,000 qualified job candidates for more than 1.4 million open tech jobs in 2020.

The “4-H Computer Science Career Pathway” is designed to ignite interest in computer science, with the ultimate goal of committing to CS-related careers. The partners plan to equip community educators with “funding, curriculum, training, devices and the support of Google CS experts,” according to the announcement. “As with most 4-H programs, the effort will feature teen-led, peer-to-peer mentoring.”

More than 100,000 youth in the following states will benefit from the CS program: Alabama, California, Delaware, Hawaii, Illinois, Indiana, Maine, Maryland, Massachusetts, Minnesota, Missouri, Nebraska, New York, North Dakota, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, and West Virginia.

Interested individuals can contact their local 4-H office to find out more information about the computer science program.

Output: The largest youth development organisation in the US, 4-H, is to get a $1.5m grant from Google to go towards creating an educational computer science programme. The organisation plans to roll out to 22 states and expand its current remit to cover coding and teamwork, targeting children with little access to technology. The 4-H Computer Science Career Pathway will provide community educators with funding, training, curriculum and devices to teach around 100,000 young people how to use technology.


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UK housing market risks further slow-down due to Brexit
 For sale signs in Ealing, west London, 2015. Shutterstock

LONDON — UK house price growth will slow sharply this year after decades of high growth, according to Countrywide, the UK's largest estate agency group.

It said growth would slow to 1.5% this year, down from 5% last year, citing Brexit negotiations as "the biggest risk" to the market's performance.

The report forecasted slowing growth in the north of England, the Midlands, and the south, particularly in London, where house prices have grown faster than any other region in the past two decades.

Countrywide Housing Forecasts – Annual house price growth (%)

Countrywide

The forecast forms part of a growing consensus that slow price growth has arrived in the UK. A survey released last week by the Royal Institute of Chartered Surveyors found the net balance of surveyors predicting price rises fell to +1% in July, down from +7% in June, suggesting price growth was near zero in the period.

Countrywide said confidence in the market will be volatile as Brexit negotiations continue, and be particularly vulnerable to poor employment figures. It said: "The outcome of these negotiations is the biggest risk to performance and is weighted to the downside."

The national market has been constrained by tightened mortgage lending as well as political uncertainty relating to Brexit, while price growth in expensive central London has been damaged by hikes to stamp duty last year.

Analysts say that the predicted return to bigger growth will be driven by a lack of tradeable housing stock, with builders consistently failing to deliver as many houses as there is demand for.

Fionnuala Earley, Countrywide’s Chief Economist, said (emphasis ours):

"Economic conditions for households will remain challenging over the next year as inflation eats into budgets and interest rates begin to rise. In addition, fewer landlord purchasers and the later age at which people buy, is affecting the level of demand. But we expect the UK economy to recover and wage growth to pick up in response to global growth. That, combined with a continued lack of housing supply, will help to support house prices.

"The housing market is sensitive to confidence which will be affected by the outcome of Brexit negotiations and the implications this will have – particularly on employment.”

Output: Growth of London house prices will decline from last year's 5% to 1.5% this year, according to a report from estate agency group Countrywide. Brexit negotiations are the largest threat to the housing market's performance, the company said. Poor employment figures also pose a risk to the housing market, Countrywide added. Meanwhile, tightened mortgage lending has constrained the national market and higher rates of stamp duty have limited price growth in central London.


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Hershey intends to use virtual reality to drive sales
 The rise of self-checkouts at supermarkets and convenience stores has led to a drastic decrease in the unplanned purchases that are crucial to Hershey’s sales. As a result, the maker of Reese’s Peanut Butter Cups and Almond Joy chocolate bars is trying to trigger impulse candy sales online.

Most candy-buying decisions are made in the aisles rather than at registers. But people still grab sweets while waiting in line for the cashier, so the dwindling number of cash registers means Hershey is missing a chance to nudge consumers into last-minute purchases, said Brian Kavanagh, senior director of retail evolution for Hershey. Purchases used to be all made at the main cash register, but now 60 percent are done at self-checkouts and another 10-15 percent are done through mobile devices, he said.

E-commerce is a single-digit yet growing business for Hershey, according to its quarterly earnings report in July. Re-creating that unplanned purchase online is not easy. While most online shopping today starts with search, people tend not to intentionally search for candy, Kavanagh said.

The idea is to use new technologies like virtual reality to make shopping interesting, he said. Hershey just started doing a test at its innovation center with an online retailer, which Hershey declined to name, where people put on the HTC Vive VR headset and see different brands and product categories in everyday environments like a living room — based on the idea that shopping can be done anywhere. When viewers click on a brand or a product category, they see snack options like a bottled tea and a Reese’s peanut butter cup.

Kavanagh envisions the possibility of a retailer’s shopping app giving users the option of shopping through a virtual experience. The user could then put on VR goggles, walk around a fake retail environment and shop — increasing the chances of them stumbling on products like Hershey candy that they wouldn’t have intentionally searched for.

Michael Rucker, co-founder of VR ad platform OmniVirt, said that VR has potential for retailers. With VR, shoppers can try new products that may not be in stock at the store. The retailer can see if a consumer looked at the blue shoes or the black shoes, and on average how long the person needed to look at those shoes before they decided to purchase them, for instance.

“There is a tremendous amount of data captured through VR, so the opportunity for VR in retail is huge,” said Rucker.

But for the time being, VR seems to be more hype than reality because the consumer adoption rate is low and the cost for brands to develop an immersive VR experience would be high.

Beyond VR, Kavanagh’s team recently worked with an unnamed grocery chain to create a seasonal aisle on its website. So instead of searching for products on the chain’s website, visitors could browse an online aisle that was organized by theme, such as Easter, and because there were no physical limitations, refrigerated and shelf-stable items could sit side by side. The result was that shoppers discovered items they wouldn’t have necessarily searched for and basket size was three times higher than usual, translating to more sales, according to Kavanagh.

Kavanagh’s team also plans to do tests with retailers who send digital reminders to people who order on mobile and pick up in-store. For instance, if a person orders something through a retailer’s app, at checkout the app will send the person a reminder, asking if they want to add items that they’ve bought before.

While digital is important, Hershey will continue working with retailers to make candy aisles in physical stores more tempting. The company’s tests show that aisles with eye-catching designs get people to buy more candy that wasn’t on their shopping lists, Kavanagh said.

“We don’t want to leave the physical world because brick-and-mortar retail is not dead, and we cannot afford to lose more consumers,” he said. “We are working hard with our retailers to make the same 60-foot aisle fun and engaging.”

Image courtesy of Hershey

Output: US chocolate maker Hershey is turning to virtual reality (VR) to bolster flagging in-store sales. The advent of self-checkouts has lead to a fall in unplanned sales of chocolate bought while customers wait in line to pay. Such sales are not easily replicated online, so Hershey hopes to use VR to make shopping more interesting. It has started tests using the HTC Vive VR headset, simulating brands and items in everyday environments. When users select a brand or product, snack options will then also be shown to them.


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Erasmus students to receive discounts on Ryanair flights
 Students with a valid ESNcard will be eligible for a 15% discount on eight one-way fares, or four roundtrips, a year.

Students will also be able to check a bag of up to 15kg for free, and will be offered in-journey deals on the Ryanair app, as well as weekly travel offers.

Ryanair has promoted European integration over the past 30 years, said an airline spokesperson, providing young people with the freedom to fly cheaply across Europe.

“There are a lot of similarities between Ryanair and the Erasmus Student Network, in terms of driving European integration and mobility”

“There are a lot of similarities between Ryanair and the Erasmus Student Network, in terms of driving European integration and mobility,” he told The PIE News. “And the unrivalled breadth of coverage across Europe.”

Over eight million students have flown on Ryanair in FY17, according to the company. And with the 15% discounts and free checked bag, it estimates student savings of around €600m a year.

Hugo Urción, partnerships manager at the Erasmus Student Network, said that with the current geopolitical events both in Europe and beyond, encouraging travel is vital.

“What is really important at ESN at the moment is to promote not only just mobility itself but also the multiculturalism that brings this mobility,” he told The PIE News.

“It’s something that helps [students] to understand that basically travelling and mobility and to get to know other cultures and get to know other people is what really matters.”

The deals will be promoted locally, nationally and internationally, said Urción, with the aim of reaching students both during and before their Erasmus+ experience.

This partnership is part of Ryanair’s ‘Always Getting Better’ program, which is now in its fourth year.

In the past three years the airline has attempted to enhance its services by allowing two free carry-on bags, offering allocated seating, launching a Ryanair USA website and improving functionalities to the mobile app.

Output: Ryanair is offering Erasmus students with a valid Erasmus Student Network card a 15% discount on eight one-way trips per year, or four round trips in the same time period. Those eligible will also be able to check in a 15kg bag for free, as well as receiving exclusive offers. The offer is part Ryanair's push for European integration, with more than 80 million students having flown in 2017, according to the company. The offer could save students a combined total of up to €600m ($708m) annually.


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Foam used to treat trauma victims gains FDA approval
 RevMedX just announced that the FDA has cleared its XSTAT 12 and XSTAT 30 devices for stopping severe bleeding from knife and gun-shot wounds in the arms or legs. The XSTAT devices are essentially large syringes that can be used to quickly push dozens of tablet-sized highly absorbent pieces of foam into a wound. Once the foam tablets are inside the wound, they quickly expand, blocking the blood from escaping and delivering pressure onto the wound from within. Each tablet contains a radiopaque marker so it can be easily found using X-ray fluoroscopy during surgery.

Previously, the XSTAT devices have been FDA approved for use in civilian and battlefield situations, but only to treat junctional wounds around the groin and shoulders. The new indication will help more wounds to be quickly treated, hopefully helping to prevent arm and leg loss and even death.

Here’s a quick demo of the XSTAT being used on a leg:

Product page: XSTAT…

Flashbacks: Xstat Gunshot Wound System Approved by FDA for Use on Battlefield…; The Best Medical Technologies of 2015…; RevMedX Gunshot Hemostasis System and Tourniquet Belt at TEDMED 2014…; XStat Gunshot Wound Dressing Cleared for Civilian Use in U.S…; Johns Hopkins Undergrads Develop Injector to Treat Deep Battlefield Wounds at Junctional Body Sites…; XStat Rapid Hemostasis System for Gunshot Wounds Works in 15 Seconds…;

Via: RevMedX…

Output: Medical manufacturer RevMedX has gained FDA clearance for devices that stem profuse bleeding from knife and gun-related injuries. The devices, called XSTAT 12 and XSTAT 30, work much like large syringes, delivering large quantities of absorbent foam tablets into wounds. The foam rapidly expands to stem bleeding and put pressure on the wound. The tablets can be tracked and removed using X-ray fluoroscopy during surgical procedures.


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Americans who live near oil and gas wells at risk of falling ill
 Living within a mile of active wells has been correlated to increased risk for heart and neurological problems, cancers and adverse birth outcomes

Oakland, Calif. - An estimated 17.6 million Americans live within one mile of an active oil or gas well, according to a study published today (August 23), in Environmental Health Perspectives, a peer-reviewed journal published by the National Institute of Environmental Health Sciences. The study, by researchers at PSE Healthy Energy, a nonprofit research institute; the University of California, Berkeley; and Harvey Mudd College, is the first peer-reviewed nationwide measurement of the number of people living in close proximity to actively producing oil and gas wells.

Studies have found that active oil and gas production degrades the quality of air, surface water and groundwater; contaminates soil; and elevates exposures to noise and light pollution. When people live within a mile of these operations, they have a higher risk of being hospitalized for numerous medical issues, including heart and neurological problems, cancers and increased asthma incidence and severity, according to separate peer-reviewed studies. Residential proximity to these operations has also been associated with adverse birth outcomes, including pre-term birth, lower birth weight, neural tube defects and congenital heart defects.

But only a few peer-reviewed studies quantifying populations in proximity to these operations have been published, and those studies do not tie pollution emissions to specific types of oil and gas development operations.

"Our study was specifically designed to determine how many Americans have increased health risks from potential exposure to pollutants emitted from oil and gas development," said Eliza Czolowski, a research associate at PSE and lead author on the study.

In addition to calculating a national population total, researchers produced a state-by-state comparison that revealed several states with especially high percentages of their population living near active wells. West Virginia topped the list, with roughly half -- 50 percent -- of residents living near an active oil or gas well. Oklahoma was close behind, at 47 percent of residents living near active wells. "When one in two members of a population are potentially exposed to a health risk, that's a significant public-health concern," Czolowski said.

About a quarter of Ohioans -- 24 percent -- reside near active wells. Texas had the highest number of residents -- 4.5 million -- living near active wells. Children 5 years old or younger, a notable subgroup in the study because of their vulnerability to environmental exposures, number at 1.4 million living near active wells in the U.S.

The researchers looked at hydraulic fracturing (fracking) wells, which typically use sand, water and chemicals to release oil or gas from rock formations -- a process generally referred to as "unconventional" -- as well as active conventional oil and gas wells.

"Despite the differences in conventional and unconventional oil production techniques, the health risks can be very similar," Czolowski said. Many air pollutants, including benzene, formaldehyde and particulate matter, are emitted from both conventional and unconventional operations because they are co-produced with oil and gas, not specifically because a well is hydraulically fractured, Czolowski explained. Emissions of air pollutants from associated activities such as well drilling and truck traffic are also not specific to hydraulic fracturing.

The researchers note that some of the well data they sought was unavailable. They encourage additional studies that follow similar rigorous, public-health focused methodologies, especially those that take well density -- a variable excluded from their analyses -- into account.

The study concludes that given the large number of individuals and large percentages of populations potentially exposed to pollutants emitted from oil and gas development, protective regulations and policies should be considered. Health-protective policies could include minimum distances between these operations and places where people live, play and learn, as well as the wide deployment of the best available air pollution-reduction technologies.

###

Physicians, Scientists and Engineers (PSE) for Healthy Energy is nonprofit research institute dedicated to supplying evidence-based scientific and technical information on the public health, environmental and climate dimensions of energy production and use.

Output: A study has estimated that 17.6 million Americans live within one mile of an active oil or gas well, all of whom have an increased risk of falling seriously ill. The study from PSE Healthy Energy, UC Berkeley, and Harvey Mudd College is the first nationwide survey on the matter. It found that living within a mile of hydrocarbon operations meant residents were more likely to suffer heart and neurological problems, cancers and asthma. The study also found an association with an increased rate of birth defects.


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New buoyancy design eliminates vortex-induced vibration
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Subsea view of helically grooved drill riser buoyancy design (illustration: Trelleborg)

A major milestone is successfully completed under the joint development agreement between Diamond Offshore, Inc. and Trelleborg that focuses on creation of a helically grooved buoyancy design with enhanced performance for drilling riser operations in high current conditions. Test results revealed that, when using the patented design, Vortex Induced Vibration (VIV) is effectively eliminated in high currents, with the added bonus that drag loading on the riser is also reduced to a level comparable with fairings.

In June of this year, tow tank testing on the patented helically grooved design was performed at SINTEF Ocean’s Tow Tank facility in Trondheim, Norway. The joint facility, under SINTEF and the Norwegian University of Science and Technology (NTNU), is one of the premier hydrodynamic research facilities in the world, allowing testing of the new buoyancy design in the supercritical flow regime representative of offshore current conditions.

Antony Croston, Business Group Director with Trelleborg’s offshore operation in Houston says, “Based on the extensive modelling performed by both Diamond Offshore and ourselves, we were very confident that the design would be fully validated by testing. In reality, the results exceeded even our own expectations.”

“For many years, fairings have been accepted as the best technical solution for drag and VIV reduction on drilling risers. Their use has come with an operational penalty in the form of increased running and retrieval time, as well as handling issues, especially in harsh weather. We now have an integral concept, which has been proven to match the performance of fairings, without any issues in drilling riser handling and running methodologies,” adds Croston.

The extensive test program provided valuable hydrodynamic data confirming the design’s drag reduction and VIV suppression performance. Fixed and dynamic drag coefficients of the new design were recorded during separate fixed and free vibration tow testing. Drag coefficients at an average of 0.65 were observed for relevant flow regimes, which is comparable to the performance of riser fairings. This is achieved through the highly successful VIV suppression of the design, effectively eliminating VIV response and subsequent drag amplification in the high excitation response range of offshore drilling risers.

Forced motion testing of the helically grooved design was also performed to better understand excitation of the riser under high current conditions and for the development of lift coefficient data for use in analytical fatigue damage prediction programs.

The helical drag reduction and VIV suppression performance shows strong independence of current speed, which is consistent with the behaviour of an external helical strake. However, the underlying flow physics causing the suppression are quite different, leading to the suitability of the helically grooved design for large diameter drill riser buoyancy.

Both Diamond Offshore and Trelleborg are delighted with the success of the joint development, which has resulted in the validation of the design through tow tank testing. In addition, Trelleborg has manufactured and delivered two complete strings to Diamond Offshore that have been recently deployed in the Gulf of Mexico. The two companies look forward to making this technology available to the offshore drilling industry to enhance safety and efficiency of operations in environmentally challenging locations around the globe.

Output: A new buoyancy design effectively eliminates vortex-induced vibrations (VIV) on drilling riser operations in high currents. Diamond Offshore and Trelleborg developed a helically-grooved buoyancy design with improved performance. Tow tank testing was carried out on the design at SINTEF Ocean's facility in Trondheim, Norway, and the results exceeded expectations. Antony Croston, business group director with Trelleborg in Houston, said that the design was shown to match the performance of fairings, but without any issues in drilling riser handling and running methodologies.


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Neste Jacobs uses gaming to improve fuel blending training
 Neste Jacobs has released a new product portfolio called NAPCON Games, which will gamify operator training. NAPCON Games can be combined with traditional operator training methods to improve the operator training for the process industry.

The first game to be launched is a transformational mobile game; NAPCON Games Fuel Blender. This enables players to be in charge of creating the optimal product. In nine different levels with a variety of difficulties, the player is in charge of blending the optimal end-product with the available components and resources.

NAPCON Games Fuel Blender tests the players' skills as a fuel blender and allows them to compete with others to see how their fuel blend stacks up against others based on profit. It is an interactive and engaging way of testing fuel blending skills and to learn more about the different components that go into a fuel blend. This game does not require any previous experience or knowledge of operator work nor fuel blending.

"Gamifying is a very current topic at the moment and we are now the only company providing gaming solutions for the process industry. The NAPCON Games Fuel Blender is the first new generation game of its kind for basic training of different blending scenarios", says Jyri Lindholm, Head of Product Management of NAPCON, Neste Jacobs.

Output: Neste Jacobs has released a product portfolio called Napcon Games to improve operator training in the process industry. Its first product is mobile game Fuel Blender, which lets users create the optimal fuel blend with the available resources and components. It allows players to compete with other users to test their fuel blending skills, based on profitability. The products can be used alongside traditional methods.


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TalkTalk Vodafone said to be in talks with Openreach over fibre network
 Wednesday, Aug 23rd, 2017 (7:58 am) - Score 3,902

Last year “industry sources” indicated that Vodafone could be planning to build their own “full fibre” network in the United Kingdom (here). A new report claims that they are now in “early but serious” talks with Openreach (BT) about the prospect of a joint investment on a “large-scale” FTTP/H build.

Vodafone has only recently re-entered the country’s residential fixed line broadband market, after being absent for several years, and so far they’ve done a good job of generating growth by offering some very affordable bundles. The only low point has been their inability to launch a Pay TV (IPTV) product (no quad-play).

Nevertheless it’s been clear for awhile, not least via the operator’s initial but failed discussions of an asset swap with Virgin Media (Liberty Global), that they’d like to go a lot further and perhaps even replicate their FTTP roll-out in Spain. The desire to take on BT is palpable but it’s a tough ask for a side of the market where they’re currently still a minnow (245,000 broadband subscribers) among giants.

Despite this the Mobile dominated operator is known to have been eyeing up Openreach’s new consultation with interest. The latter recently proposed an aspiration to conduct a “large scale” roll-out of 1Gbps capable Fibre-to-the-Premise (FTTP/H) broadband technology, which with the right support could reach up to 10 million UK premises by around 2025 (here); the cost of this has been pegged between £3bn to £6bn (here).

Currently Openreach only plan to reach 2 million premises with FTTP by 2020 and they claim that to go further would require greater industry collaboration (i.e. new investment, risk and cost sharing models), as well as improved planning and traffic management processes, a friendlier regulatory environment to help protect the investment and an agreement on how mass migration of customers onto the new platform can be achieved.

According to the Telegraph‘s “industry sources“, Vodafone are taking the consultation very seriously and appear willing to put some money where their mouth is. The mobile giant is however only keen to target major urban areas, which is hardly a surprise because that’s where most customers’ exist and thus the greatest potential for a return on any investment.

However current market regulation could still prove to be a difficult hurdle because Vodafone may well demand some degree of exclusivity over any jointly built infrastructure (e.g. initial sole use of the infrastructure and first access to the fastest speeds etc.), which would obviously upset rival ISPs in a market where Openreach is required to provide fair and equal access. Ofcom could be flexible but only up to a point.

An Openreach Spokesperson said: “We have said before that a new, more independent Openreach is open to co-investment models. We’re currently consulting with all of our wholesale customers on the case for a large-scale ‘full-fibre’ broadband network. As part of this we’re asking about their potential interest in different forms of commitment to new fibre-to-the-premises infrastructure, including co-investment. We are optimistic that this approach will lead to greater openness and collaboration across our industry, which will in turn achieve better outcomes for connected homes, businesses and people throughout Britain.”

In order to make this viable Vodafone would probably still need to build some scale into their broadband business and that might still require them to gobble an existing ISP. Assuming the prospect of a deal with Virgin Media has been shelved (a natural result of going down the Openreach route) then that only really leaves Sky Broadband and TalkTalk as significant options, both of which piggyback off Openreach’s network.

TalkTalk is financially strained and potentially vulnerable to a purchase. Plus, if the rumours are true, then Sky may also be open to divesting broadband once Fox completes its takeover, although we think that Fox would risk shooting themselves in the foot if they did that (broadcast media is rapidly becoming more broadband centric).

On the other hand this could all be part of a tactic so that Vodafone can better understand their options before making a final decision on the Openreach or Virgin Media route. We’re all for more FTTP/H but there’s certainly some concern that the market’s diversity could be harmed if fair wholesale access isn’t provided to ISPs, particularly smaller providers. A tough balancing act indeed.

Output: Vodafone is reported to be in early talks with BT's Openreach service about a joint investment in a large-scale "fibre to the premises" (FTTP) broadband network. Openreach is consulting on plans to offer a 1 Gbps service to up to 10 million premises in the UK by 2025 and is open to co-investment models to achieve it. Making this possible could require Vodafone to take over an existing internet service provider to add scale, with Sky Broadband and TalkTalk as the most likely options. The latter is thought to be vulnerable to a purchase, and Sky could be open to divesting itself of broadband if its takeover by 21st Century Fox goes ahead.


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Snapchat discourages alcohol brands with age-gating concerns
 Snapchat has a drinking problem. Alcohol brands say they are hesitant to spend money on Snapchat, citing concerns about the platform’s ability to verify that ads are only served to people 21 and up and the overwhelming numbers of younger people who use the app.

Regulations mandate that alcohol brands can only buy ads on platforms and on publishers’ sites where 72 percent of the audience is over age 21. Alcohol advertising in the U.S. increased more than 400 percent from 1971 to 2011, according to a University of Texas at Austin study. Spend was $475 million in 2014.

Snapchat’s users’ ages break down as follows, according to a spokesperson: 22 percent are between 13 and 17; 36 percent (the largest demographic) are 18 to 24; 27 percent are 25 to 34; and over 15 percent are over 35. The company has not released a stat on the 21-plus group. An eMarketer report released this week found that Snapchat will overtake Facebook and Instagram among the 12-to-17 and 18-to-24 age groups in the U.S. this year.

Felix Palau, director of global marketing for Heineken, said the beer maker chose not to have an active profile on Snapchat because he doesn’t think the age filtering is effective enough. “We haven’t found a way to reach age-appropriate consumers on Snapchat,” he said.

Heineken has experimented with Snapchat around Coachella by using geofenced filters, but according to Nourdin Rejeb, Heineken’s global manager for digital, its paid work with the platform is still in early stages. “We absolutely want to make sure we don’t expose our content to minors,” he said.

Jayme Buonocore, digital director at William Grant & Sons distilleries, said the same: “At the moment, the Snapchat community skews too young for us to feel comfortable using some of their advertising products,” specifically the filters since they are most likely to be passed around. “I am a big fan of Snapchat as a platform, and I see so much potential there for our brands. We just have to wait for the demographics of the community, or the advertising options, to catch up to our responsibilities as marketers of spirits.”

Snapchat does have age-gating. As of 2013, all new Snapchatters are required to enter their birthdays when creating Snapchat accounts. The percentage of users above 21 has also increased, said brand execs.

That means brands can limit ads to people 21 and up, but those people can still send Snaps with sponsored geofilters or lenses to underage friends. There is simply no way to verify how old the recipient is, which is the concern.

Sailor Jerry, a rum brand owned by William Grant & Sons, used Snapchat for an activation for Fleet Week New York last year. But senior brand manager Josh Hayes said the brand hasn’t done so since. “Our legal department doesn’t like the percentage of younger people that are on Snapchat,” he said. “Our legal department can be a little conservative sometimes.”

For Campari, the issue is less about being able to advertise on Snapchat than advertising on it successfully. Referencing how other brands have done it, Dave Karraker, vp of marketing at the company, said brands have to build in layers that verify a user’s age at multiple entry points for every activation.

Karraker pointed to Jameson, the first alcohol brand to run national geofilters when it launched an age-gated geofilter last March. It also ran ads within Live Story for St. Patrick’s Day. Jameson had to create multiple layers to ensure that it met age guidelines. According to Jeffrey Moran, vp of influencer engagement and marketing activation at Pernod Ricard, the company went an additional step by putting essentially a “do not forward to anyone under 21” message on the filter itself. The brand was also very specific and used geotargeting to address certain neighborhoods only for activations for Jameson and its sister brand, Malibu. “In many ways, we’re trying to be part of the solution to figure out how to fix this and be responsible,” said Moran.

“Any layer has people drop off, any layer between you and your content,” said Karraker. “Ultimately, here’s a platform that is clearly a favorite of underage individuals. Why would you focus your efforts over there when I can just go to Instagram, which now has Stories?”

Karraker’s media team felt that Snapchat was resistant to working with alcohol brands in the early days because of its rudimentary age-gating features. Meanwhile, Instagram increased in popularity and released Stories, leading Campari to focus its attention there.

“In addition, we tend to focus on Instagram because of broad reach, potential for engagement and sharing (not just consumption like Snap), research capabilities and media buying efficiencies,” said Karraker. “Instagram is a better platform for our very visual marketing style for our brands and cocktails and for the sharing of cocktail recipes, which is very important brand-consumption lever.”

Ultimately, brands seem to prefer advertising on Instagram, which has more stringent age-gating and doesn’t skew younger — and has other benefits, such as a larger active user base and more discoverability.

“The great thing is, as much as I love Snapchat, with Facebook Live and Instagram Stories, we are able to achieve the same thing in different places,” said Hayes.

Contributing: Seb Joseph

Output: Alcohol brands have reported their reluctance to advertise on Snapchat, due to concerns about verifying the age of the social media app's users. In the US, alcohol can only be advertised on platforms where 72% of users are over the legal drinking age of 21, making accurate targeting important. While Snapchat requires users to enter their dates of birth, there is currently no way of verifying the age of recipients of messages. Several alcohol brands are reported to be uncomfortable advertising on a site with such a young demographic, and prefer to use other platforms.


Instruction: create a high quality summary of the given input

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China Minsheng Bank senior executive under investigation
 Minsheng Bank’s Lin Xiaoxuan is under review by the China Banking Regulatory Commission on suspicion of ‘serious violation of discipline’

Output: China Minsheng Bank's chief information officer, Lin Xiaoxuan, is being investigated by the Chinese government's banking watchdog. The China Banking Regulatory Commission (CBRC) is looking into allegations of a "serious violation of discipline", as Beijing continues its anti-corruption crackdown on the financial sector. Xiaoxuan had been employed by Minsheng since January, and had his qualifications approved by the CBRC only last week.


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Royal Mail trials EVs in London
 Arrival

The Royal Mail has a fleet of around 49,000 vehicles. On a daily basis these are used to transport mail from individual post boxes and offices to sorting centres, distribution locations and finally the recipients they're intended to be delivered to.

Read more: This electric truck can be built by just one person in four hours

Now, as vehicle manufacturers around the world are concentrating on cleaner vehicles, the Royal Mail is going electric.

The limited trial, taking place for one year, will use nine prototype trucks from Banbury-based Arrival. The firm, formerly known as Charge Auto, is owned by the creators of the ambitious autonomous racing series Roborace.

From today 3.5, 6, and 7.5 tonne trucks will be used in London – operating out of the Mount Pleasant depot – to move packages between mail distribution centres in the city and the local area. In a statement, Paul Gatti, Royal Mail Fleet’s managing director, said the vehicles will be used for mail collection from its larger sites.

Output: The Royal Mail has begun testing electric vehicles (EVs). For one year, the company will use nine prototype vehicles from EV manufacturing firm Arrival to carry mail. The vehicles will begin delivering packages in December, with charging stations installed at delivery offices. The vans have been designed to run for 100 miles, producing zero emissions. The final version of the vehicle will be capable of autonomous travel.


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Drug and alcohol misuse on rise among baby boomers
 Urgent action is needed to tackle drink and drug misuse among baby boomers, experts have warned, with a growing body of data from around the world suggesting that substance misuse is increasing among those in their mid-50s and older.

The call follows the release of recent figures which revealed that in 2015/16 more than half a million adults aged between 55 and 74 were admitted to English hospitals with alcohol-related injuries, diseases or conditions – more than for any other age group.

What’s more, while risky drinking is on the wane in the UK and Australia, those in the over-50 age bracket buck the trend. By 2020 the number of people receiving treatment for substance misuse problems are expected to double in Europe, and treble in the US, among those aged over 50.

“Overall, whether you look at [hospital] admissions, whether you look at daily drinking, whether you look at deaths, older people – particularly baby boomers – are pulling away significantly in their health risks from millennials,” said Dr Tony Rao, a consultant old age psychiatrist at South London and Maudsley NHS Foundation Trust and co-chair of the Older People’s Substance Misuse working group at the Royal College of Psychiatrists.

Writing in the British Medical Journal ahead of the publication of a forthcoming 2018 report from the Royal College of Psychiatrists, Rao and Ann Roche – director of the National Centre for Education and Training on Addiction at Flinders University in Australia – argue that more needs to be done to tackle the problem.

But, Rao warns, the issue goes beyond drinking. “It is not just about alcohol, it is also about illicit drugs such as cannabis, and it is also about commonly prescribed medications such as opioid painkillers,” he said. “It is not just a problem in the UK, it is an international problem.”

Indeed, the authors write, “In Australia, the largest percentage increase in drug misuse between 2013 and 2016 was among people aged 60 and over, with this age group mainly misusing prescription drugs.” Those over the age of 50, they add, have higher rates of illicit drug misuse, particularly cannabis, than younger Australians.

Among their suggestions to tackle the problem, the authors argue that programmes should be developed to cater especially for older adults. “Addiction services [in the UK] are being dismantled piecemeal at the same time as older people are experiencing more substance misuse problems,” said Rao.

Better integration of healthcare is crucial, Rao added, pointing out that those visiting services relating to liver disease or dementia, for example, could also be screened for issues relating to alcohol or drugs and be offered help if needed.

Rao added that a 2011 report from the Royal College of Psychiatrists, which he co-authored, advises that due to age-related physiological and metabolic changes, older people should drink no more than 11 units per week; current guidelines recommend no more than 14 units for all adults.

Katherine Brown, director of the Institute of Alcohol Studies said alcohol consumption among baby boomers is a huge worry.

“This is the first generation of home-drinkers who are far more likely to buy cheap supermarket alcohol than visit their local pub. They are drinking more than their parents and it’s no surprise that their health is starting to suffer as a result,” she said, adding that price increases and tighter controls on alcohol promotions are needed.

Karen Tyrell, from the alcohol and drug misuse charity Addaction, agreed that better integrated services, as well as those specifically aimed at older adults, are needed to help tackle the issue, pointing out that work from the Drink Wise Age Well project has shown that older adults have different needs to younger people. “[Older adults’] drinking and drug use tends to be around age-related issues, so things like retirement, bereavement [and] being quite lonely,” she said.

Ultimately, said Tyrell, the situation among baby boomers is a serious concern. “It tends to be that society imagines that drink and drugs are problems of the young but actually there are massive problems in older populations,” she said.

Output: Misuse of drink and drugs by baby boomers is increasing and needs urgent attention, according to Australian and UK medics. Recently released NHS figures reveal that over half a million people aged 55 to 74 were admitted to hospitals in England with diseases or injuries related to alcohol in 2015-2016. The figures were higher than for any other age group, making baby boomers the only generation trending upwards in terms of dangerous drinking. The number of people over 50 treated for substance misuse is expected to double in Europe and treble in the US by 2020.


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EU to investigate $66bn Bayer-Monsanto merger
 The European Commission, the European Union’s executive arm, announced Tuesday it has opened an in-depth investigation into Bayer‘s proposed $66 billion takeover of Monsanto over “concerns that the merger may reduce competition in areas such as pesticides, seeds and traits.”

The controversial merger, if successful, will form the world’s largest integrated seed and pesticide company.

“It would combine two competitors with leading portfolios in non-selective herbicides, seeds and traits, and digital agriculture,” the commission stated. “Both companies are active in developing new products in these areas.”

The commission warned that the acquisition could reduce competition in a number of different markets resulting in “higher prices, lower quality, less choice and less innovation.”

The commission’s initial market investigation identified three preliminary concerns, as follows:

Pesticides

Monsanto’s pesticide product glyphosate is the most sold non-selective herbicide in Europe. Bayer produces glufosinate ammonium, also a non-selective herbicide and one of the very few alternatives to glyphosate. According to the commission’s preliminary investigation, Monsanto and Bayer are two of a limited number of competitors in this field capable of discovering new active ingredients and developing new formulations, including addressing the growing problem of weed resistance to existing products. In addition, the commission will further assess both Monsanto’s activities in biological pesticide products that would compete with Bayer’s existing portfolio of chemical pesticide products, and the parties’ overlapping activities in products that tackle varroa mites, a parasite affecting bee colonies in Europe.

Monsanto’s pesticide product glyphosate is the most sold non-selective herbicide in Europe. Bayer produces glufosinate ammonium, also a non-selective herbicide and one of the very few alternatives to glyphosate. According to the commission’s preliminary investigation, Monsanto and Bayer are two of a limited number of competitors in this field capable of discovering new active ingredients and developing new formulations, including addressing the growing problem of weed resistance to existing products. Seeds

Bayer and Monsanto are both active in the breeding of vegetable seeds. The commission’s initial investigation shows that the parties have high combined market shares in a number of these vegetable seeds markets, and that some of their products compete directly with each other. Bayer and Monsanto are also active in the breeding and licensing of seeds for several field crops. Monsanto has the highest market share in oilseed rape seeds in Europe. Bayer, with the highest market share in oilseed rape seeds at global level, is one of the few players with the means to compete intensively in this market. Furthermore, both parties are important licensors of cotton seeds to their competitors in Europe, and both are investing in research and innovation programs for wheat.

Bayer and Monsanto are both active in the breeding of vegetable seeds. The commission’s initial investigation shows that the parties have high combined market shares in a number of these vegetable seeds markets, and that some of their products compete directly with each other. Traits

A trait is a characteristic of a plant, such as height, herbicide tolerance and insect or disease resistance, and can be developed in laboratories and introduced in certain plant varieties. The commission’s preliminary investigation indicates that Monsanto has a dominant position in several traits markets worldwide. Bayer is one of the few competitors to Monsanto in certain traits markets, and has notably developed alternative herbicide tolerance traits to Monsanto’s. The commission will investigate in particular whether the transaction could lead to a reduction of competition in these markets, taking into account the existing links between the few worldwide competitors through cross-licensing and through research and development cooperations.

“Moreover,” the commission noted, “the transaction would take place in industries that are already globally concentrated, as illustrated by the recent mergers of Dow and Dupont and Syngenta and ChemChina, in which the commission intervened to protect competition for the benefit of farmers and consumers.”

Bayer and Monsanto submitted commitments in late July to address some of the commission’s preliminary concerns. However, the commission “considered these commitments insufficient to clearly dismiss its serious doubts as to the transaction’s compatibility with the EU Merger Regulation.”

Margrethe Vestager, who serves as European Commissioner for Competition, said that “seeds and pesticide products are essential for farmers and ultimately consumers.”

“We need to ensure effective competition so that farmers can have access to innovative products, better quality and also purchase products at competitive prices. And at the same time maintain an environment where companies can innovate and invest in improved products,” Vestager added.

The German pharmaceuticals company told Reuters it is still aiming to have the transaction approved by the end of the year.

“Bayer looks forward to continuing to work constructively with the commission with a view to obtaining the commission’s approval,” the company said.

The commission could block the Monsanto-Bayer deal but it has approved both Dow and DuPont’s deal as well as ChemChina’s takeover of Syngenta after major concessions, Reuters reported. The commission has until January to make a decision.

Bayer and Monsanto bosses tout the mega-deal as an altruistic plan to improve “the lives of growers and people around the world.”

But environmental advocates and consumer groups like the Organic Consumers Association, Farmers Union, Food & Water Watch, Friends of the Earth and others have condemned the plan.

Hannah Lownsbrough, the executive director of the consumer group SumOfUs, wrote in the Guardian: “If approved, the merger would be an extremely risky consolidation of corporate power, not to mention a serious threat to food supplies and farmers around the world. It is essential that regulators properly investigate it and take decisive action before it’s too late.”

Output: An investigation into Bayer’s proposed $66bn takeover of Monsanto has been launched by the European Commission in relation to “concerns that the merger may reduce competition in areas such as pesticides, seeds and traits". If successful, the merger would create the largest seed and pesticide firm in the world. As the commission observes, the merger would also "take place in industries that are already globally concentrated, as illustrated by the recent mergers of Dow and Dupont and Syngenta and ChemChina”.


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Bankrupt solar installer Sungevity comes back in merged business
 In the ups and downs of the solar coaster, even the dead can rise again.

Case in point: Sungevity is back.

Oakland-based Sungevity, the fifth-largest residential solar installer at the start of the year, combusted in a spectacular bankruptcy in March that resulted in mass layoffs, unpaid accrued vacation days and bounced final checks. The remnants of the company that emerged from bankruptcy assumed the name Solar Spectrum.

The private equity firm Northern Pacific Group, which bought the assets that became Solar Spectrum, acquired a majority stake in Southern California installer Horizon Solar Power from Oaktree's GFI Energy Group on August 17. Now the plan is to nest the two solar companies under the umbrella of the Sungevity brand, in what could soon become a platform for further solar acquisitions.

"It was unfortunate what happened with Sungevity, but we believe the brand stands for a lot of positive things," said Horizon CEO Frank Kneller. "Most important to us was their total commitment to the customer and ensuring the customer had a flawless experience."

That's a novel approach for the residential solar industry, which has few healthy models for how to grow sustainably. It's a similar setup to General Motors, which houses separate but related brands like Chevy and Buick. GM also went through a high-profile bankruptcy recently, but people still buy its cars.

With this merger come national aspirations, which Solar Spectrum inherited from Sungevity. That marks a change of strategy for Horizon, having grown within the borders of California so far.

Pairing Horizon's and Sungevity's installations from Q1, the combined company would rank fifth among U.S. residential installers with 1.8 percent national market share, according to GTM Research's PV Leaderboard. The new Sungevity says it has the momentum to reach fourth place by next quarter.

Why Sungevity?

When kick-starting a new solar consortium, branding it with the name of a recently expired giant isn't the obvious choice.

The leadership team is betting that brighter memories from its 10-year run outweigh more recent history.

"In its heyday, Sungevity was the undisputed champion of solar customer service," said Horizon President Brian Walrod. "Sungevity did a lot of tremendous things for the industry, and although it didn't end in a great place, it doesn't erase the positive impact that it made."

That positive impact may be lost on those who closely followed the collapse, or the employees who were not paid for accrued vacation time, or whose final checks bounced.

"Why the hell would anyone bring back that brand?" was how one former Sungevity employee reacted to the news.

For those Americans who exercise a less granular understanding of the ins and outs of the cleantech world, the bankruptcy might not have registered. Say what you will about Sungevity, that company knew how to spend money on marketing, and that investment could continue to pay dividends for the new ownership.

There is a crucial difference between the old Sungevity and the new.

The former was caught on a treadmill of growth in order to raise money, said William Nettles, executive vice president of strategy and investor relations at Solar Spectrum. The name now belongs to a private equity firm that can afford a longer-term strategy.

"We have investors who believe in putting their money to work in a smart way and have the patience to make sure that we grow profitably," Nettles said. "I think that is very unique at this time. Investor sentiment toward solar is negative right now. Other investors are sitting on the sidelines."

New allies

Solar Spectrum and Horizon will continue operating as separate companies, but will start working together to enhance growth.

Horizon started in Southern California and has seen six years of profitable growth while expanding to new counties, not new states. The company approaches solar based on its roots in the construction industry, Walrod said. The firm does installation in-house.

The multi-channel sales approach includes field marketing, door-knocking, digital lead generation, paid leads, direct mail and retail, Kneller said, adding that his team watches the cost of customer acquisition "daily."

Solar Spectrum, active in California and several New England states, specializes in remote sales and installs through a partner network. A signature software program tracks each step from sales to installation.

That makes for two different but complementary go-to-market strategies, Walrod said. It's feasible that the two could share technology and leads as they pursue different markets with their respective approaches. But the collaboration won't stop there.

"This will really create a platform for future industry consolidation," Walrod said.

The new platform is already evaluating another acquisition, in fact. In a market with more headlines about companies divesting from solar installation than investing, the Horizon acquisition sent out a beacon of hope.

But dreams of nationwide expansion raise red flags in this industry.

"So many of the national residential solar companies, like Sungevity, have gone under in the past two years that it has started to look increasingly like the national model just doesn't work," said Allison Mond, a solar analyst at GTM Research. "That said, Horizon Solar Power is the largest residential company operating solely in California, and it has been doing really well, with double-digit growth and successful reduction of customer acquisition costs despite difficulties across the board in the California market."

Moving out of that core market invites new challenges. But the leadership team at least knows what kind of odds they're up against.

"We want to be smart about it," Kneller said. "The landscape is littered with people who tried to go nationwide."

Output: US residential solar installer Sungevity has emerged from bankruptcy as Solar Spectrum after a merger. Oakland-based Sungevity filed for bankruptcy in March, leading to massive lay-offs. Private equity firm Northern Pacific Group bought the assets that became Solar Spectrum before acquiring a majority stake in Horizon Solar Power in August. Northern Pacific now hopes to merge the two companies under the brand Sungevity, in what may become a platform for more solar buyouts.


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Victoria aims high with renewable energy targets
 The southern Australian state of Victoria has this week set the country’s most ambitious renewable energy targets of 25% by 2020 and 40% by 2025, at the same time as the government awarded two large-scale solar projects.

The Victorian Labor Government announced on Wednesday the introduction of the Victorian Renewable Energy Targets (VRET), the largest renewable energy auction in Australia, and the awarding of contracts for two large-scale solar projects. Australian states have had to lead the way when it comes to renewable energy development and deployment, considering the entrenched loyalty to the country’s coal industry in the Federal Government. South Australia, the western neighbor to Victoria, is one of the world’s leading renewable energy states — having already achieved its 2020 target of achieving 50% of its electricity from renewable energy sources.

Victoria itself has recently been stepping up as well, and this latest raft of announcements serves to solidify the importance of renewable energy in the state’s future.

The Victorian Renewable Energy Targets, which will be introduced as legislation into State Parliament this week, will aim to set the country’s most ambitious targets of 25% by 2020 and 40% by 2025. Further, according to the Labor Government, the VRET is expected to cut the average cost of power for Victorians by around $30 a year for households, $2,500 a year for medium businesses, and $140,000 a year for large companies. At the same time, the VRET is expected to boost local jobs into the thousands, attract billions of dollars of investment, and drive a 16% reduction in the state’s electricity sector greenhouse gas emissions by 2034-35.

“More renewable energy means more jobs for Victorians — that’s why we’re setting these ambitious targets and promoting investment in this growing sector,” said Victorian Premier Daniel Andrews. “Renewable energy creates jobs, drives growth, and protects our environment — and most importantly, helps drive down power prices for Victorian households and businesses.”

Stemming from the VRET will be Australia’s largest renewable energy auction, which will offer up to 650 MW (megawatts) of capacity that could provide clean electricity for the equivalent of up to 389,000 homes — or, according to the Labor Government, enough electricity to power the secondary cities of Geelong, Ballarat, Bendigo, as well as the entire Latrobe Valley region.

Expectations are that the first auction will result in investments of up to $1.3 billion and jobs during construction of around 1,250, and ongoing jobs for around 90.

At the same time, the Victorian Government also announced the winners of a tender to build approximately 138 MW worth of new large-scale solar to help power the state capital’s tram network.

“The renewable energy sector will now have the confidence to invest in renewable energy projects and the jobs that are crucial to Victoria’s future,” said Minister for Energy, Environment and Climate Change Lily D’Ambrosio. “Government investment will be capped to ensure the best value for money for Victorian taxpayers.”

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Output: The Australian state of Victoria has become the first in the country to legislate its renewable energy targets. The state introduced proposals this week to put its announced targets of 25% renewable energy by 2020 and 40% by 2025 into law. The government claims meeting the targets would reduce household electricity bills by AUD30 ($24) per year and cut greenhouse gas emissions by 16% by 2034. They now plan to use a reverse auction to encourage the construction of new wind and solar projects across the state.


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Input:
Victoria aims high with renewable energy targets
 The Victorian government has introduced legislation to enshrine its renewable energy targets in law and establish a reverse auction mechanism to build 650 megawatts worth of new projects.

The premier, Daniel Andrews, announced the Victorian renewable energy targets (VRET) of 25% renewable energy by 2020 and 40% by 2025 in June 2016.

If Andrews can negotiate it past the upper house, the legislation introduced to parliament on Wednesday will make Victoria the first state to enshrine both its renewable energy targets and its commitment to invest in renewable energy in law.

That will send a strong signal to investors, environment minister Lily D’Ambrosio said, and provide certainty for both the energy industry and electricity consumers.

“These are ambitious yet achievable targets and this is the policy certainty and it’s the right policy that industry has been deeply searching for to make sure they can actually make the right decisions to invest in our state,” D’Ambrosio said.

The VRET will rely on a reverse auction to encourage the construction of new wind and solar projects in Victoria. D’Ambrosio said modelling by the state government showed it would reduce household electricity bills by $30 a year over the life of the scheme and drive a 16% reduction in greenhouse gas emissions by 2034.

“In a pure economics sense more supply means cheaper prices and that’s what we will be modelling it on,” she said.

Leading experts agree that renewable energy is the cheapest form of new power generation, D’Ambrosio said.

Victoria has already held a limited reverse auction to commission two new solar plants designed to power Melbourne’s tram network.

The successful tenders, announced on Wednesday, are the 100 megawatt Bannerton Solar Park near Robinvale in north-west Victoria and a 38 megawatt solar farm at Numerka, near Shepparton.

D’Ambrosio said the new projects would provide 138 megawatts of solar power and create jobs in regional areas. Expressions of interest for the reverse auction for 650 megawatts of renewable energy power generation – enough to power 389,000 homes or the combined residential areas of Geelong, Ballarat, Bendigo and the Latrobe Valley – will open in October.

Victoria has long been critical of the Turnbull government’s commitment to a clean energy target and threatened to work around government “indecision”. The current federal renewable energy target expires in 2020.

“What we know is that in the absence of policy certainty and leadership in Victoria it’s up to states like Victoria to fill that void, to make sure that we’re doing everything that we can to drive the transition that is incredibly important,” Andrews said.

Environmental groups praised the decision, saying it led the way for other states and territories to enshrine their own targets in legislation and send a strong message they were transitioning away from fossil fuel power.

The Australian Conservation Foundation climate change campaigner, Suzanne Harter, said leadership was particularly important because of a “policy paralysis at a federal level”.

“The mechanism that the Victorian government is using is a tried and true mechanism,” Harter said. “Coupled with the targets, it sends clear signals to investors and to the sector.”

The Environment Victoria campaigns manager, Nicholas Aberle, said the legislation showed the promise to get to 40% renewables was not an “aspirational target”.

“It’s one thing to want more renewable energy but it’s another thing to create a mechanism to make it happen,” he said. “The federal government does not have the monopoly over energy policy and if they are going to continue to not take climate change seriously then states are going to step in.”

Aberle said new renewable energy projects would have to be spread throughout Victoria to fit within the limits of the existing electricity network and to provide energy security, preventing one severe weather event from taking out the power for the whole state, as a storm did last year in South Australia.

Some places, like the Latrobe Valley, have significant unused transmission capacity because of the closure of the Hazelwood power station, making them an ideal site for windfarms.

In March the Andrews government announced a $20m tender to build 100mw of battery storage in Victoria by 2018, in time to store power generated by the as yet commissioned renewable energy plants. Three months later, Tesla founder Elon Musk committed to build in South Australia the world’s largest lithium ion battery to store renewable energy.

Aberle said the speed with which battery technology was developing had put the goal of 100% renewable energy within reach.

“This is a really disruptive technology that’s going to completely reshape what our energy sector looks like in the future,” he said. “It’s going to shape it in a really positive way because it’s going to allow us to get to 100% renewable energy much more quickly.

Output: The Australian state of Victoria has become the first in the country to legislate its renewable energy targets. The state introduced proposals this week to put its announced targets of 25% renewable energy by 2020 and 40% by 2025 into law. The government claims meeting the targets would reduce household electricity bills by AUD30 ($24) per year and cut greenhouse gas emissions by 16% by 2034. They now plan to use a reverse auction to encourage the construction of new wind and solar projects across the state.


Instruction: create a high quality summary of the given input

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HNW homeowners at particular risk of water-leak damage: Chubb
 WHITEHOUSE STATION, N.J., Aug. 21, 2017 /PRNewswire/ -- A new survey from Chubb finds that while on vacation, just 19% of homeowners view internal water leak damage as the most concerning home threat, despite the fact that water leaks are a more frequent risk than fire and theft.

Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8158951-chubb-homeowner-water-risk-survey/

"The time between when a leak occurs and when it is discovered is the single greatest factor in determining the amount of damage," said Fran O'Brien, Division President of Chubb North America Personal Risk Services. "As a result, leaks that occur while you're away result in greater amounts of damage, in terms of both cost and severity."

Instances of water damage have been rising dramatically. In the past 10 years, the frequency of sudden pipe bursts has nearly doubled. In 2015, water damage accounted for nearly half of all property damage, according to the Insurance Information Institute. Chubb's new Homeowners' Water Risk Survey measures homeowners' attitudes toward home protection, the risks they're most concerned about and what they are overlooking. The online survey of 1,200 homeowners finds that just 8% of homeowners correctly identify August as the month with the most water leak events, and when subsequently heading out on a late-summer vacation, just 22% shut off the water main (despite 88% knowing where it is located within their home).

While homeowners are particularly vulnerable during the summer travel season, the study finds many face year-round water exposures. For instance, despite the fact that 91% of homeowners rate themselves as "vigilant" or "doing an okay job" at preventative home maintenance, and that close to half (45%) have or know someone who has experienced a water leak in the past two years, only 18% have installed a water leak detection device.

Of all homeowners, high-net-worth individuals are particularly at risk. When compared against other income segments, for instance, high-net-worth individuals are the most likely (55%) to report being "vigilant" about conducting preventative maintenance, yet are the least likely (26%) to rank internal water leaks as their top home-related concern. High-net-worth homeowners are also the income group least likely to periodically inspect appliance hoses (33% compared to 61% of middle class homeowners, the most of any income group), a frequent cause of internal water leaks.

"The adoption of certain preventative home maintenance devices, including fire, carbon monoxide and security systems, is standard practice among the majority of all homeowners, regardless of income, as they address what are perceived to be the most common property risks," explained O'Brien. "But internal water leaks are a leading cause of property damage. With 57% of homeowners who have experienced a water leak claim in the past two years spending $5,000 or more on clean up and repair costs—and 15% spending $20,000 or more—many are overlooking their exposure at a significant cost."

While O'Brien says there are a number of steps homeowners can take to mitigate the risk, she recommends that when they go through their pre-departure process of locking doors and windows, identifying a neighbor to keep an eye on their home, and ensuring some lights are left on, that homeowners also add shutting off the water main to the checklist.

Additional findings from the survey include:

The majority of homeowners (63%) cite the threat of relocating for an extended period of time (between one month and a year) as their first or second most potentially concerning water damage-related event. With the window for a quick restoration closing just 72 hours after a leak, extended relocation is a real possibility homeowners must contend with.

A quarter of all homeowners have never had their appliances inspected, despite being the surest way to prevent a leak from occurring.

Many homeowners also cited the loss of irreplaceable items (59%) and repairing structural damage (46%) as the top most potentially concerning water damage-related events.

The majority of homeowners are unfamiliar with the most common sources of internal water leaks, with close to half (49%) identifying the water heater as the most likely source (independent analyses indicate plumbing supply systems pose the greatest risk).

About the Survey

The Homeowners' Water Risk Survey is the first survey by Chubb measuring homeowners' approaches and behaviors toward internal water leak detection and prevention. Conducted by ResearchNow, an online market research company, the online survey was fielded between July 24, 2017 and July 29, 2017. The results are based on 1,202 completed surveys, of which 25% of respondents were middle class ($50,000 to $99,999), 25% were upper middle class ($100,000-$499,999), 36% were mass affluent ($500,000-$999,999) and 13% were high-net-worth ($1,000,000 or more).

About Chubb

Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com.

View original content:http://www.prnewswire.com/news-releases/survey-finds-close-to-80-of-homeowners-overlook-costly-water-leak-exposure-when-heading-out-on-vacation-300506986.html

SOURCE Chubb

Output: Just 19% of US homeowners view water leak damage as the most concerning home threat despite water leaks being a more frequent event than fire and theft, according to a survey by Chubb. High-net-worth (HNW) homeowners were found to be particularly at risk and least likely to rank internal water leaks as their top home-related concern. Chubb – the world's largest publicly traded property and casualty insurance company – reported that water damage has risen dramatically in the past 10 years. In 2015 water damage accounted for nearly half of all property damage, according to the Insurance Information Institute.


Instruction: create a high quality summary of the given input

Input:
Change at the top as LSM president Nick Metcalfe hands over reins
 Chief operating officer Matthew Moore takes up the reins.

Liberty Specialty Markets’ (LSM) president and managing director Nick Metcalf has handed over the running of LSM to Matthew Moore, in a move which the insurer said has been in the planning for several years.

Metcalf retires and Moore takes on both president and MD roles.

Moore said: “I am delighted to be leading LSM in its next phase of evolution.

“I believe that LSM is uniquely placed to take advantage of the opportunities presented by the innovation taking place in the London market, and

Output: Specialist insurer Liberty Specialty Markets has changed its top management team, with Matthew Moore taking over from retiring president and managing director Nick Metcalfe. Moore has been with Liberty since 2002, when he joined as a political risk underwriter. The London-headquartered multinational said the changeover had been planned for several years. Moore is taking over both the president and managing director roles.


Instruction: create a high quality summary of the given input

Input:
Swiss Re expands into contingency, sport risks with new team
 Mr. Cole has over 16 years of experience placing contingency, non-appearance, film and disability risks for wholesale and retail clients. He joined Swiss Re Corporate Solutions in 2012 and has been Head of the North American Contingency team since May 2014.

"Jonathan's considerable product knowledge and experience across all contingency and disability lines, as well as his extensive global network make him the ideal leader to build our team," states Andreas Hillebrand, Head Credit & Special Lines. "With his proven track record of adding new product offerings and opening up markets, I'm confident he will help us to strategically grow our business throughout the world."

An English national, Mr. Cole holds a Bachelor's Degree from The University in Manchester in the U.K.

"Our new structure will foster cross-regional collaboration allowing us to better serve our clients and brokers," states Mr. Cole. "I look forward to growing our team and business as we expand our regional footprint and product offering within the contingency and disability space."

Swiss Re Corporate Solutions serves the sports and entertainment sectors by providing financial protection from a wide range of risks in the area of contingency and sports personal accident coverage.

About Swiss Re Corporate Solutions

Swiss Re Corporate Solutions offers innovative, high-quality insurance capacity to mid-sized and large multinational corporations across the globe. Our offerings range from standard risk transfer covers and multi-line programs, to highly customized solutions tailored to the needs of our clients. Swiss Re Corporate Solutions serves customers from over 50 offices worldwide and is backed by the financial strength of the Swiss Re Group. For more information about Swiss Re Corporate Solutions, please visit corporatesolutions.swissre.com or follow us on Linkedin at linkedin.com/company/swiss-re-corporate-solutions or on Twitter @SwissRe_CS.

Swiss Re Corporate Solutions offers products through companies that are allowed to operate in the relevant type of (re)insurance or financial products in individual jurisdictions. Availability of products varies by jurisdiction. The content of this site is not intended as a solicitation to purchase (re)insurance or non-insurance products.

SOURCE Swiss Re Corporate Solutions

Related Links

https://corporatesolutions.swissre.com

Output: Swiss Re has created a contingency and sports personal accident team in New York and has recruited Jonathan Cole to lead it. The team will sell its products globally. Cole, who is British, has spent his career placing contingency, non-appearance, film and disability risks, and will manage the underwriting team in London and New York.


Instruction: create a high quality summary of the given input

Input:
Deceitful US insurer loses appeal against $2.75m damages award
 The circuit court agreed with the district court that there were sufficient facts to find that “Charter Oak did not simply fail to disclose the existence of $900,000 of UIM coverage available to [Ms.] Dziadek, but actively deceived [Ms.] Dziadek and her attorney into believing that there was no such coverage.”

This story is reprinted with permission from FC&S Legal, the industry’s only comprehensive digital resource designed for insurance coverage law professionals. Visit the website to subscribe.

The U.S. Court of Appeals for the Eighth Circuit has affirmed a decision by the U.S. District Court for the District of South Dakota awarding an injured woman $2.75 million in punitive damages from an insurance company that had “actively deceived” the woman — and her attorney — into believing that no underinsured (UIM) motorist benefits were available to her.

Output: An insurer has lost its appeal against a $2.75m punitive damages award to a woman who was deceived by the company after being seriously injured in a car accident. A lower court heard the Charter Oak Fire Insurance Company claimed Laura Dziadek was not covered when she was involved in the accident in a hire car in Sioux Falls, South Dakota in 2008. The insurer also failed to send the complete policy, the court heard. The company's actions were only discovered three years after the accident. The jury in the trial found the insurer liable for deceit and breach of contract.


Instruction: create a high quality summary of the given input

Input:
Japanese health unions battle smoking to cut treatment costs
 In this May 29, 2011 file photo, people consult with doctors on giving up smoking at a shopping center in Tottori. (Mainichi)

Corporate health insurance unions of 18 major companies are setting up a consortium with over 580,000 total members to offer remote outpatient treatment to help people quit smoking.

The move comes as the unions, faced with financial difficulties, need to reduce high smoking-related medical costs. The group aims to cut the smoking rate by 5 percent by 2020, when the Olympics and Paralympics will be held in Japan, reducing the number of smokers among those insured by company health coverage schemes by some 30,000.

In July this year, the Ministry of Health, Labor and Welfare for the first time approved of completely remote outpatient treatment for smokers, which does not require face-to-face examinations by doctors, as a health care program as long as it is provided by insurers such as corporate health insurance unions. The latest development marks the first trial of this remote treatment to help people give up smoking.

Many corporate insurance unions are facing financial problems due to Japan's aging society, and need to hold down the number of smokers among their membership as smoking increases overall medical costs. The unions joining the consortium include those for Nissan Motor Co., Japan Airlines Co., Recruit Holdings Co., Nomura Securities Co., Kao Corp. and Konica Minolta Inc., with a total membership of roughly 583,000.

According to online health care support firm Linkage, which will undertake the remote treatment, a doctor will examine a patient online via smartphone or computer four times over a span of eight weeks or less, and send anti-smoking pills to the patient at their home or workplace. Public health nurses and other health experts will support the patient online or on the phone, and make sure via email that the patient is refraining from smoking up until the 36th week of the program. The program test run will start in the fall, and the system will be put into full-scale operation in fiscal 2018.

As companies with production and sales bases in rural areas lack access to medical institutions that offer outpatient treatment for smokers, some find it difficult to continue treatment to give up smoking. The program is also hoped to better the ratio of smokers who successfully quit.

Yoshio Nakaie, general manager of Uchida Yoko Health Insurance Association and organizer of the consortium, says the group aims to use information technology to realize health care projects that would be impossible for a single union to implement. He added, "Reducing the smoking rate by 5 percent will have a huge impact on society."

Output: 18 major Japanese companies' health insurance unions in have created a consortium to offer outpatient treatment for smoking addicts. Many of the unions are dealing with financial issues as a result of Japan's ageing population, and hope to reduce the number of smokers among their membership, since smoking increases overall medical costs. The group aims to cut the smoking rate by 5% before the 2020 Olympics and Paralympics are held in Japan.


Instruction: create a high quality summary of the given input

Input:
Halliburton and Microsoft want to digitise the oil and gas industry
 Halliburton is entering into a strategic alliance with Microsoft to drive digital transformation across the oil and gas industry. The relationship will combine the expertise of a global leader in cloud and digital transformation with a global leader in exploration and production (E&P) science, software and services.

“Halliburton is focused on delivering intelligent cloud solutions to drive the next generation of efficient oil and gas exploration and production,” says Jason Zander, corporate vice president of Microsoft Azure. "We are excited to bring the power of Azure’s hyperscale, hybrid and global cloud platform technologies to this alliance to enhance the value chain for our mutual customers.

Researchers and engineers from both companies will leverage and optimize Microsoft technologies in machine learning, augmented reality (AR), user interactions and Industrial Internet of Things, as well as Azure's high-performant infrastructure and built-in computing capabilities to deliver tightly integrated solutions across the energy value chain. Areas of collaboration include: applying deep learning to reservoir characterization, modeling and simulation, building domain-specific visualization for mixed reality, creating highly interactive applications and fueling the digitalization of E&P assets.

As a first step in the alliance, Halliburton has made DecisionSpace 365 available on Azure, enabling real-time data streaming from IoT edge devices in oilfields and the ability to apply deep-learning models to optimize drilling and production to lower costs for customers. With the power of DecisionSpace on Azure, big compute and predictive deep-learning algorithms will help optimize field assets and enable next-generation exploration and deep-earth models by using software to fill gaps in sensor data, while reducing the number of steps and time required to render models.

“Halliburton is at the forefront of the digital transformation occurring in the E&P industry,” says Nagaraj Srinivasan, senior vice president of Landmark and Halliburton Digital Solutions. “We believe open architecture and community-based innovation are necessary to drive this fundamental change and we’re proud to work closely with an industry leader like Microsoft to deliver tailored E&P digital business solutions to our customers across the globe.”

The breadth and depth of this collaboration will allow the companies to apply voice and image recognition, video processing and AR/Virtual Reality to create a digital representation of a physical asset using Microsoft’s HoloLens and Surface devices. Additionally, the companies will utilize digital representation for oil wells and pumps at the IoT edge using the Landmark Field Appliance and Azure Stack.

Output: Halliburton and Microsoft will work together to develop technologies such as augmented reality, machine learning and the industrial internet of things (IoT) with a mission to digitise the oil and gas industry. Halliburton also wants to expand its cloud capacity on Microsoft's Azure platform to support exploration and production, and stream real-time data from IoT edge devices. Deep learning will be used to optimise drilling and exploration.


Instruction: create a high quality summary of the given input

Input:
P2P buy-to-let start-up Landbay raises £2.4m
 Landbay, a buy-to-let mortgage lender that uses peer-to-peer technology to fund loans, has closed a £2.4m crowdfunding round.

The London-based PropTech/FinTech firm raised the funds via crowdfunding platform Seedrs, securing a total amount of £2,440,266.

This far exceeds the firm’s target amount of £1.5m and brings the total amount raised to date to around £7m.

“This was a bridge round funded by existing investors. The funds will enable us to continue to expand our operational capacity as we ramp up lending, as well as launch new mortgage and investment products,” said Gray Stern, co-founder and chief commercial officer at Landbay.

The firm, which currently employs 30 people, previously received investment from Zoopla, Omni Partners LLP and James Sore, who is chief investment officer at investment platform SyndicateRoom.

The Landbay platform enables people to make property-backed investments with as little as £100 while buy-to-let landlords can secure mortgages with a simple fee structure and low interest rate.

It claims to have loaned £51.87m to date across 275 mortgages and boasts an expected return of 3.75% for investors, although this is of course not guaranteed.

Output: London-based property technology company Landbay has raised £2.4m ($3.1m) from its latest crowdfunding round on the Seedrs platform, exceeding its target of £1.5m and bringing the total raised to date to around £7m. The buy-to-let mortgage lender uses peer-to-peer technology to fund loans, and enables people to make property-backed investments with as little as £100, whilst offering a simple fee structure and low interest rates on buy-to-let mortgages. The company claims to have loaned over £51m to date, with an expected return of 3.75% for investors.