Instruction: create a high quality summary of the given input

Input:
HVDC transmission lines could cut US greenhouse emissions by 80%
 The Denver-based company behind the project hopes to erect a series of steel transmission towers that would stretch a high-voltage direct-current transmission line 730 miles across the American West. It could carry as much as 3,000 megawatts of Wyoming wind power to the electricity markets of California, Nevada, and Arizona. With the right deals in place, the transmission line could deliver solar-generated electricity back as well, balancing Wyoming’s powerful late-afternoon winds with California’s bright daytime sun.

How Wyoming wind (in green) could balance out California solar (in red) throughout the day in June. Source: Wind Diversity Enhancement of Wyoming and California Wind Energy Projects, 2015. Jonathan Naughton, Wind Energy Research Center.

The $3 billion TransWest Express Transmission Project is among a handful of proposed direct-current transmission lines in the United States, and one of the furthest along in the planning process. It underscores the huge promise of these high-capacity lines to unlock the full potential of renewable energy.

Transmission isn’t sexy (see our story art above). It’s basic infrastructure. Long wires and tall towers (see “How Blockchain Could Give Us a Smarter Energy Grid”).

But a growing body of studies conclude that building out a nationwide network of DC transmission lines could help enable renewable sources to supplant the majority of U.S. energy generation, offering perhaps the fastest, cheapest, and most efficient way of slashing greenhouse-gas emissions.

Developing these transmission lines, however, is incredibly time-consuming and expensive. The TransWest project was first proposed in 2005, but the developers will be lucky to secure their final permits and begin moving dirt at the end of next year.

There’s no single agency in charge of overseeing or ushering along such projects, leaving companies to navigate a thicket of overlapping federal, state, county, and city jurisdictions—every one of which must sign off for a project to begin. As a result, few such transmission lines ever get built.

A macro grid

Direct current, in which electric charges constantly flow in a single direction, is an old technology. It and alternating current were the subject of one of the world’s first technology standards battles, pitting Thomas Edison against his former protégé Nikola Tesla in the “War of the Currents” starting in the 1880s (see “Edison’s Revenge: The Rise of DC Power”).

Output: A network of high-voltage direct current transmission lines carrying power from renewable resources could eliminate the need for energy storage and help to reduce greenhouse gas emissions to 80% below 1990 levels inside 15 years, according to a study in Nature Climate Change. However, overlapping federal, state, county, and city jurisdictions, as well as a lack of incentive from utilities to pay for transmission lines has hampered their deployment and maintained a reliance on fossil fuels.


Instruction: create a high quality summary of the given input

Input:
Start-up Healthureum launches crypto-based healthcare platform
 Healthcare is a political and social landmine. According to TechCrunch the average American spends close to $10,000 for healthcare, with the entire industry being worth $3 trln. The World Health Organisation and World Bank report that nearly 100 million people around the world are forced to choose between food and healthcare. This frightful dilemma affects those living in developed and developing countries alike.

It is becoming imperative to develop better systems that can deliver healthcare in a more affordable, transparent and secure way. To ensure better accessibility to adequate health services, we need to focus on efficiency and technology enabled solutions.

Healthureum, an Estonia-based company, is in the process of creating a ‘dynamic and multi-functional ecosystem’ based on the Ethereum Blockchain that will change the way we look at healthcare and usher in an era of standardization, scalability and social responsibility. Ethereum is a Blockchain that not only delivers transparency and security, but also has smart contracts baked into it.

Why does healthcare need Blockchain?

Healthcare is riddled with problems such as fraud and lax data protection. As recently as December, 2017 it was reported that private health records of one in 10 Australians was leaked due to errors on the part of Department of Health. News-Mail reported:

“We found that patients can be re-identified, without decryption, through a process of linking the unencrypted parts of the record with known information about the individual such as medical procedures and year of birth.”

It is precisely these situations that Healthureum can prevent by introducing a robust framework that emphasizes transparency, security and accountability.

An all encompassing approach

Using Blockchain to deliver better quality healthcare is not straightforward. It needs to take care of several factors such as confidentiality, scalability of the system and its ability to meet the needs of healthcare providers. However, using Blockchain it is possible to manage a plethora of health related use cases. These range from clinical trials, health records, claims assessments to data protection and more. Patients stand to gain as they get access to cheaper and higher quality health care, enjoy a more trusting relationship with medical staff, access to genuine drugs and a reduction in fraudulent practices. Healthureum is taking steps to make this Blockchain-based solution a reality by following a systematic and innovative approach.

Token of health

Using an Ethereum-based token, Healtherum will touch every aspect of healthcare. Data systemization will ensure that medical records, personal data, test results, and billing can be consolidated. Since Blockchain is not necessarily the most suitable way of handling large files such as medical records, this type of data will be managed by Healthureum off-chain though the use of encrypted links.

In order to use the ecosystem Healthureum tokens will be required. The token will act as a bridge between patient, hospital and labs. The ecosystem will also provide access to doctor consultations through video calls, referrals for second opinions, specialist consultations and diagnostic tests in a local lab. Patients will even be able to get medical and pathology tests results added to their Healthureum patient record in an instant, secured on the Blockchain. Doctors and other associated medical personnel can be paid using the token, which will facilitate fast and secure payments for health services rendered globally.

The benefits of the Healthureum ecosystem and token are not limited to patient data management. On a large scale, Healthureum will facilitate interoperability between internal processes of a hospital or clinic, as well as inter-hospital data sharing. The Healthureum system will also use the Blockchain to capture procurement and supply chain data, ensuring authenticity and efficiency.

Healthureum tokens will be used in purchase, service and renting of medical infrastructure and the resulting data will be saved for analysis and make the process of procurement more transparent. The use of the token in research programs will facilitate proper recording of data and better monitoring. It will also mean that the system can be scaled to meet the needs of researchers while providing the subjects with data security.

Milestone-driven fundraising

The Healthureum Token (HHEM), which is Ethereum ERC20 compliant, will be the driving force of the ecosystem as a utility token. A Token Generation Event (TGE) will be held starting January 10, 2018 to fund the various stages of the project as milestones are achieved. The TGE will end on February 13, 2018.

A successful fully subscribed pre-TGE has already been completed. During the TGE, Healthureum tokens can be purchased using BTC, ETH and ECH. A bonus program is also in place with participants getting a 22% bonus on Day 1, 17% in the first week, 12% in the second, 7% in the third and 2% in the fourth week. There are no bonus tokens in the fifth week of the TGE.

The total supply of HTH tokens has been capped at 150 million. Healthureum hasput together a participation guide for interested participants.

Your data, your doctor, your way

Those who participate in the TGE are helping build a better and more affordable healthcare system. The large scale of the project necessitates participation in the TGE and enables participants to be able to enter the project at a favourable price point, while early funding would ensure that the project gets underway.

A white paper outlines the development plans of the project which is expected to continue well into 2019. However, various alpha versions of the project are expected in 2018. A successful Healthureum would usher in an era with better systems for greater efficiency, transparency and data security.

Output: Healthureum is developing a blockchain-based platform aimed at bringing "transparency, security and accountability" to every aspect of health care. The Estonia-based start-up said the platform can be accessed using its Ethereum-based Healthureum Token digital currency, with a token generation event running from 10 January until 13 February. Healthureum's platform will manage patient data, enable interoperability between different hospitals, monitor the purchase, renting and servicing of medical equipment, and capture supply-chain data.


Instruction: create a high quality summary of the given input

Input:
Magic Leap unveils its augmented reality headset
 Fort Lauderdale, Florida-based Magic Leap unveiled today what $2 billion dollars of Silicon Valley investment will get you: an augmented reality/mixed reality (ar/mr) product called “Magic Leap One: Creator Edition.”

There are three components to the Magic Leap hardware:

The goggles, called Lightwear, which combine “digital Lightfield technology with environment mapping, precision tracking, and soundfield audio”

A puck-like mini-computer called a Lightpack that attaches to the goggle and can be clipped to your belt or pants

A hand-held controller with force control, haptic feedback, and six degrees of freedom

The Magic Leap website offers some additional vague details about the technology, in addition to examples of how the goggles can be used, ranging from the practical (spatial web browsing) to entertainment (gaming), as well as the nonsensical (painting with turtles instead of paintbrushes?). In this interview, Magic Leap founder Rony Abovitz explains that they call it the “creator’s edition” because the device encourages “actively creating with the computer” instead of the passive consumption of content.

If you’re curious to understand what makes Magic Leap’s tech unique, Rolling Stone has among the most in-depth reports, including details from a reporter who has used the product. The problem with experiential tech is that written descriptions don’t do it much justice, and it’s still difficult, at least for me, to gauge exactly how Magic Leap differs from existing ar/mr hardware.

Something we do know though is that Magic Leap employs a team of animators, even if it’s not exactly clear what they’ve been working on for the last couple years. Some of the company’s animation team is ex-Moonbot employees, who were picked up last year following the collapse of the Shreveport, Louisiana studio.

Skepticism remains around Magic Leap because of the astronomical sums that the company has raised to develop its technology, and the seeming gap between what the company has promised and what they are delivering. Business Insider, for example, suggests that the Magic Leap has the same fundamental limitations as the Microsoft Hololens, which is a limited field of view that doesn’t match a human’s field of view.

The venture capital world itself has a sketchy track record when it comes to backing companies that have never launched a product – Juicero and Theranos anyone? – and with Magic Leap having raised nearly $2 billion to date, expectations for the company to deliver something amazing are sky-high.

Magic Leap hasn’t released any firm details on pricing or availability, but has stated that a software development kit (SDK) is expected to be made available in early-2018, followed by the launch of the hardware later in the year.

Output: Florida-based firm Magic Leap has released details of its augmented reality/mixed reality headset, the Magic Leap One: Creator Edition. Comprising goggles that include digital Lightfield technology, a mini-computer called a Lightpack and a hand-held controller, the device enables users to "actively create with the computer", according to Magic Leap founder Rony Abovitz, with uses including web browsing and gaming. While no price or availability details have been released, the company said a software development kit is set to go on sale early this year, with a product launch scheduled for later in 2018.


Instruction: create a high quality summary of the given input

Input:
Regus IWG holds takeover talks with Onex Corporation, Brookfield Asset Management
 British tycoon Mark Dixon is in line for a £600million payday after Canadian funds made an approach to buy his global office empire.

The 58-year-old built IWG, formerly called Regus, from nothing into a £1.8billion business but is on the verge of selling it.

IWG says joint takeover talks are under way with Onex Corporation and Brookfield Asset Management, the biggest real estate manager in the world.

Cashing in: British tycoon Mark Dixon is selling his his global office empire IWG to Canadian funds for £600m

They have yet to make a formal offer but the prospect of a deal sent shares soaring by more than 27 per cent yesterday.

It was the first time markets had been open since bosses revealed they were considering a deal on Saturday. Analysts said rival bidders could also emerge.

Dixon, IWG’s biggest shareholder, holds a 25 per cent stake in the firm.

He is estimated to be worth about £900million by Forbes but could trouser another £600million if IWG is taken over for a reported £2.5billion.

The father-of-five, who sold hot dogs after leaving school in Essex, founded Regus in 1989.

He is said to have had the idea for the firm after sitting in a cafe in Brussels and noticing the lack of office space for travelling business people, as they were holding meetings at tables around him.

WHEELBARROW BOY DONE GOOD IWG founder Mark Dixon was an entrepreneur from the moment he left school. The Essex lad’s first venture was selling peat from a wheelbarrow to a local housing estate. He then began a sandwich making business called Dial-a-Snack. When this failed he travelled the world and was a barman, a miner in Australia and also sold encyclopedias. Back in the UK he bought a burger van for £600, but having struggled to find good baps, set up a firm called the Good Bread Roll company which he eventually sold for £800,000. <!- - ad: https://mads.dailymail.co.uk/v8/ru/money/moneymarkets/article/other/mpu_factbox.html?id=mpu_factbox_1 - ->

IWG now runs Regus, Open Office and Signature offices across 3,000 locations in 1,000 cities, with annual sales of £2.2billion.

But its shares have fallen over the past year in the face of tough competition from rivals such as US-based WeWork.

Despite having far fewer locations, WeWork’s valuation is more than eight times higher – at almost £15billion.

It has attracted trendy technology start-ups with perks such as free beer and prosecco, helping to rapidly expand its presence in London.

IWG took another hit when it issued a profit warning in October, sending its shares plunging by more than 32 per cent in a day.

Andrew Shepherd-Barron, an equity analyst at Peel Hunt, said the company offered a ready-made global brand.

He said: ‘Much depends on founder Dixon’s attitude, but the approach could lead to IWG finally being taken over after a long and frequently volatile relationship with the equity market.

'The approach is from private equity at the moment, but we see potential bidders from a range of parties.’

IWG said it had ‘received an indicative proposal’ from Brookfield Asset Management and Onex Corporation for a possible cash offer to buy out the company.

In a statement, it added: ‘There can be no certainty that any offer will be made, nor as to the terms on which any offer might be made.’

Brookfield and Onex now have until January 20 to put forward a firm proposal.

Output: Flexible office space provider Regus – now part of IWG – has said it is in talks with Canadian companies Brookfield Asset Management and Onex Corporation over a potential £2.5bn ($3.4bn) cash buyout of the company. IWG shares rose by more than 27% after the news broke. IWG had a turbulent 2017 in the face of competition from WeWork and issued a profit warning in October. IWG founder Mark Dixon, who owns 25% of the business, could make as much as £600m from the sale. The Canadian companies have until 20 January to offer their proposal.


Instruction: create a high quality summary of the given input

Input:
Top-tier insurers could attempt to partner with Amazon
 The insurance industry was ready for Amazon to make an insurance distribution channel available to its customers: Liberty Mutual, Safeco, Farmers, Allstate, Nationwide and Grange Insurance are among the insurers leveraging the retail giant's Alexa voice assistant. Few believe this move will obviate the need for independent agents, and it remains to be seen whether the popular virtual assistant will be able to process FNOLs or policy changes, but Alexa’s ability to intuit responses can’t be ignored.

The clear leader in e-commerce, Amazon ventured into selling direct in a limited fashion in the United States, the UK, France, Germany, Italy and Spain last year with its “Amazon Protect” product, which provides extensions to manufacturers’ warranties, insuring against accidental damage, breakdown and theft for items such as electronics (mobile phones, washing machines, etc.) bought on Amazon’s website. This move didn’t cause much of a stir because the bulk of manufacturers and distributors already underwrite shipments.

But a recent Reuters report in the UK notes that Amazon placed job advertisements on LinkedIn and “Where Women Work” for its EU product insurance division, which describe “launching a new business” and “creating a new palette of services,” causing industry watchers to speculate whether Amazon has a broader strategy in mind.

The silhouette of Jeff Bezos, chief executive officer of Amazon.com Inc., is seen as he unveils the Fire Phone during an event at Fremont Studios in Seattle, Washington, U.S., on Wednesday, June 18, 2014 Amazon.com Inc. jumped into the crowded smartphone market with its own handset called Fire Phone, ramping up competition with Apple Inc. and Samsung Electronics Co. Photographer: Mike Kane/Bloomberg *** Local Caption *** Jeff Bezos Mike Kane/Bloomberg

What’s interesting is how larger insurers may end up responding; namely by adopting the “if you can’t beat ‘em, join ‘em” philosophy and offering to partner with the retail giant to be the underwriter of choice. By treating Amazon like any other insurtech firm (ready to leverage opportunity from an industry rip for innovation and disruption), larger insurers will be betting on a solid return. The reality, however, is that, although most insurers have a running start at digital transformation--a must for today’s growing competitive market--most insurers do not have the capacity to partner with the likes of an Amazon. But all insurers (from direct to aggregators) can learn from Amazon’s success.

The most obvious learning is tied to what the customer wants—and with the right technology, insurers can learn a lot. Thanks to its hyper-analytics platform, Amazon continues to blaze a trail with an inherent understanding and fulfillment of customer preferences (on-demand simplicity in both purchase and services, personalization, product details and comparisons including suggestions for similar products and add-on products--insurance fits nicely here--clearly stated benefits/advantages and even peer reviews).

This leads to another consideration: Rethinking how an insurer presents its company and its products. According to Steve Yi, co-founder and CEO of MediaAlpha, which connects buyers and sellers of online advertising, online conversion rates for the insurance industry generally fall in the 5% to 15% range, which means that most visitors to an insurer’s website end up buying insurance elsewhere. Amazon built its success on creating an open market, enabling customers to compare shop and even allowing its competitors to advertise on its site, which creates revenue for the giant in either case. Unless you are an insurance aggregator, that strategy may sound a bit wild, but what if your prospect/customer found everything it needed to make an informed decision on your site, reinforcing brand recognition, trust and loyalty?

The fact that Google tried a similar approach and ultimately pulled out of the personal lines auto market this past year won’t impact Amazon’s decision. And whether Amazon decides to offer traditional insurance products remains to be seen (Reuters reports that an Amazon UK spokesman declined to comment, and the Warranty Group, which underwrites Amazon Protect policies, did not respond). If they do enter the market, they will be courted by more Tier 1 insurance partners than they can imagine, and may fall into the ranks of one of the largest insurtechs in history.

Output: With Amazon set on entering the insurance market, top-tier companies may seek to enter partnerships with the online marketplace. Amazon has recently been recruiting staff for an insurance division, declaring it's launching a new business line. The company already offers extended warranty services for goods under its Amazon Protect brand. Rather than put up resistance, leading insurers are likely to seek partnership arrangements with Amazon, according to industry consultant Pat Speer. Such arrangements would see Amazon treated in a similar vein to how smaller insurtech firms have been courted by incumbent insurers.


Instruction: create a high quality summary of the given input

Input:
Water salinity test could boost production from older wells
 A look at recent first‑quarter results reminds us that there is no such thing as a constant trend in our industry. Continual recalibration of companies’ activities aim to obtain positive financial results in the traditional oil and gas business while devoting efforts in a practical way to both mitigate climate change issues and to develop new forms of energy.

Output: A new analytical model for brownfield oil reservoirs uses the salinity of injected water to improve the understanding of fluid movements in the operation, said researchers from the Society of Petroleum Engineers. Charting the salinity of production water could help optimise water injection, promoting the most efficient methods and increasing oil recovery, they said. The model was applied to a large oil field in Egypt, where it helped improve understanding of critical issues across about 500 wells, including fluid contacts, well integrity, aquifer support, effect of faults, well zonation, and contribution of commingled wells.


Instruction: create a high quality summary of the given input

Input:
Regus Flexible space rivals jostle to dominate South Florida
 South Florida increasingly pays for office space as a one-stop service business, with companies forsaking a traditional lease in favor of a modern mix of open-seating areas and private offices with perks, including free coffee, that aim to promote collaboration and innovation among tenants. But as co-working behemoth WeWork — with its $20 billion valuation — increases its presence in the area, will the locally founded stalwarts get drowned out?

The nation’s largest co-working office operator, New York-based WeWork, started opening locations in the Miami area in 2012, two years after Miami-based Büro Group said it introduced the co-working concept in South Florida. WeWork’s arrival in Miami coincided with the startup of another formidable Miami-based competitor, Pipeline Workspaces.

“When we started in 2012, WeWork really was not a known entity,” says Philippe Houdard, co-founder of Pipeline.

WeWork is increasingly making its presence in the Miami market known. As the end of 2017 approached, the company was preparing to double its Miami-area space by opening new locations in Coral Gables, where the company leased 60,000 square feet during the second quarter, and downtown Miami, where it leased 97,000 square feet in a 15-story historic building.

The WeWork space in Coral Gable’s Giralda Place mixed-use development is planned to open by the end of 2017. There, WeWork is leasing six floors. In November, the firm lined up five companies to occupy one whole floor each at the 15-story Security Building, a historic landmark in downtown Miami, according to Adam Wacenske, South Florida general manager of WeWork.

In a mid-November phone interview, Wacenske declined to identify the big-membership buyers at the Security Building, but he said the terms of such whole-floor commitments “can be from one to five years.” Asked if WeWork lowers its price in exchange for large-scale, long-term commitments, Wacenske said, “I don’t think so, necessarily.”

Unlike some smaller local co-working operators, WeWork is driven by big business, said Mark Pateman, managing principal for Palm Beach County at Cushman & Wakefield. “The enterprise business is where they’re focusing, providing space for IBM and Boeing, global companies that really need scalability,” he said.

Pateman also said some smaller South Florida operators might not have staying power in a slower economy. “The big guys, the WeWorks and Reguses, are going to be more resilient in a downturn,” and smaller sellers of office space as a service and an experience will be subject to “a large cleaning out.”

And Regus, with about 3,000 locations around the world, including about three dozen in South Florida, has been making some local moves lately. Since late 2016, Regus has opened five South Florida locations, in Aventura, Fort Lauderdale, Jupiter, Miami Beach and Sunny Isles Beach. It is also preparing to open a co-working office location under its Spaces brand in downtown Miami in 2018.

The first Spaces in South Florida will open in a multilevel, 19,000-square-foot space at MiamiCentral Two, a 190,000-square-foot office building in downtown Miami that is under construction and expected to open in early 2018.

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After introducing Spaces to South Florida in Miami, Jeff Doughman, executive vice president of North America sales and operations, said Regus plans to open more Spaces locations in South Florida targeting large companies, not just small fry.

“We provide a lot of larger space for corporates,” he said, calling commitments of two and a half years or less for 15,000 square feet or more “our sweet spot.”

The supply-side growth of the co-working segment in South Florida’s office market, now seven years old as estimated by stakeholders, may have years to go until it recedes.

Limited office construction in the last decade has helped to hold down office vacancy rates in the tri-county market. A Cushman & Wakefield survey shows that third-quarter office vacancy rates fell year over year in all three counties. Third-quarter vacancy rates fell from 13.5 percent to 12.2 percent in Miami-Dade County, from 14 percent to 12.3 percent in Broward County and from 16.9 percent to 12.7 percent in Palm Beach.

But the economy still moves in cycles, and at the first whiff of a downturn, South Florida’s cluster of co-working offices could look like a crowd.

“Right now, the demand still outpaces the supply, at least in the neighborhoods where we operate, and we haven’t had to drop prices in any of our locations,” said Michael Feinstein, founder and CEO of Büro, which has five Miami-area locations.

Büro plans to build on its Miami-area base in southeast Broward County. In January, the co-working operator expects to start building out the interior of a 15,000-square-foot location in downtown Hollywood at 2031 Harrison Street. Büro and an Ecuador-based partner bought the building there in August from a municipal agency for $1.15 million. The new Hollywood location is expected to open by the fall of 2018.

Pipeline Workspaces also expanded north to Broward, where it opened a location in Fort Lauderdale in October 2016. The company opened its first co-working location in the Brickell area in 2012 and now has Miami-area locations in Coral Gables and Doral, too. In September, Pipeline opened its fifth Florida location, in Orlando.

The Pipeline client roster presents some evidence that not every corporate giant will opt for WeWork over smaller co-working companies. In its Coral Gables location, Pipeline houses corporate tenants Kayak, Postmates and Priceline.com.

But not every co-working operator in South Florida is looking to land big businesses. The Lab Miami is a five-year-old operator that has been content with its sole location at 400 Northwest 26th Street in Wynwood.

“We started about five years ago with a grant from the Knight Foundation. They’ve been our biggest supporter,” said Rachel Bickford, managing director of The Lab Miami. “We don’t have a business plan like WeWork where we want to be in every city in the world. We’re just focused on growing the entrepreneurial ecosystem here in Miami.”

Output: Flexible office space providers WeWork and Regus are battling each other and smaller rivals for control of the still-growing South Florida marketplace. WeWork was set to open locations in Coral Gables and Miami by the end of 2017, focusing on attracting enterprise business clients. Regus already oversees five locations in South Florida, and plans to open its first Spaces-branded site in Miami early this year.


Instruction: create a high quality summary of the given input

Input:
US advisers back active funds to outperform in 2018
 As the stock market closes in on a solid 22% gain for the year, marking a near-300% gain from the 2009 low point, a growing chorus of financial advisers are citing actively managed strategies as a reasonable hedge at this point in the market cycle.

An InvestmentNews survey of more than 300 registered investment advisers found that nearly 71% believe active management will outperform passive strategies in 2018.

“It’s almost intoxicating as the market climbs higher and higher every day, but what non-professionals don’t know may well be their Achilles heel,” said Rose Swanger, president of Advise Finance.

“As more people withdrew their investments (during the extended bull market) from active fund management for passive index funds for lower fees and other attributes, they forgot the fundamental weakness of the index fund; that it passively follows the market,” she added.

While passively following the market for much of the past nine years would have been a great strategy, some financial advisers are playing the odds that the good times can’t last forever, and down markets generally favor actively managed strategies.

“I would like to bet [The Vanguard Group founder and retired chief executive] John Bogle $1 million that over the next five years active management handily beats passive, and with less risk,” said Paul Schatz, president of Heritage Capital.

“I think the cycle for passive is in its final stage and those who flooded into passive strategies will be sorely disappointed,” he added.

Mr. Bogle could not be reached for comment.

This year through Wednesday, the S&P 500 Index trails the actively managed large-cap growth fund category by six percentage points, according to Morningstar.

“I’ve always been a believer in active management, and I tell people that have drunk the Kool-Aid of passive management that they don’t need a financial planner,” said Kashif Ahmed, president of American Private Wealth.

“I don’t ever believe in plain-vanilla indexing,” he added. “But right now, we’re at a point in the market where there needs to be a human being allocating to things that are not so stretched.”

Such attitudes of caution are showing up despite a relative absence of calls of doom and gloom from market forecasters.

John Lynch, chief investment strategist at LPL Financial, said the S&P 500 is “well positioned to generate strong earnings” in 2018, which he attributes to stronger global growth and lower corporate tax rates.

Mr. Lynch predicts that the benchmark S&P 500 will gain between 8% and 10% in 2018.

Tim Holsworth, president of AHP Financial Services, is among those advisers still not convinced active management is where to be at this point.

“We are taking the attitude of ‘show me active is better’ before changing much of what we’re doing,” he said. “The changes we will make going forward will be focusing on allocation, which means staying within the respective risk tolerance of each portfolio.”

Output: Roughly 71% of 300 surveyed registered investment advisers in the US believe active strategies, rather than passive, will be the top performers in 2018, according to a study by InvestmentNews. Despite passive funds having outperformed their active counterparts on successive market gains, many advisers believe the current bull market can't last forever, and that active management has a tendency to perform better in down markets. The US stock market ended last year with roughly a 22% gain and has been up close to 300% since its low-point in 2009.


Instruction: create a high quality summary of the given input

Input:
Lack of EV charging network damages UK growth of autonomous cars

 A shortage of charging points and strain on energy supplies are now the main stumbling blocks to the rise of driverless electric cars, according to the UK boss of insurer Axa.

Amanda Blanc said a lack of rapid charging bays and pressure on the National Grid have overtaken questions about accident liability as the biggest barriers to autonomous vehicles entering the transport mainstream.

Blanc, a Tesla driver, said personal experience pointed to problems lying ahead for driverless electric vehicles. There are about 125,000 plug-in electric cars in the UK and 14,000 chargers – 2,620 of them being rapid chargers that can give a car an 80% charge in 30 minutes. Shell has recently opened its first charging points for electric vehicles at 10 filling stations, mostly in London and the south-east.

Blanc said a recent long-distance family trip showed the potential limitations of a future dominated by autonomous transport. When Blanc recently drove to Edinburgh in the Tesla with her family, they stopped twice to use a supercharger but went for coffee while the car charged. “In three to four years’ time when more people are buying electric, you do not want to have to queue for your supercharger,” she said. “The infrastructure has to be fixed.”

The other issue for Blanc is the strain on Britain’s electricity supply. According to the National Grid, growth in electric vehicles on Britain’s roads could see peak electricity demand jump by more than the capacity of the Hinkley Point C nuclear power station by 2030.

She explained: “If suddenly everyone’s got one [an electric car] I’m not sure how the National Grid is going to cope with that. If in the Coronation Street break everyone goes to put the kettle on and that causes problems, just imagine what will happen if everybody comes home from work at 6 o’clock and switches their cars on to charge – we have to be smarter about renewables and regenerating electricity. That’s a real challenge.”

Blanc, whose Axa unit has 10 million customers, is one of the strongest backers of self-driving and electric cars in the insurance industry. She believes that children born today will not need to learn to drive and as grown-ups will be cruising around Britain’s cities in electric “robo-cars”. Advocates say they will reduce pollution, be cheaper to run and provide mobility to those unable to drive, including the elderly.

Until recently, the question of who is liable in an accident involving a self-driving car was seen as a major hurdle in the development of autonomous vehicles – but Blanc said a government draft bill had brought clarity.

If it becomes law, insurers will automatically pay out if motorists crash a car in self-driving mode. The question of whether man or machine are to blame will then be debated by the insurance company and the carmaker. If the motorist is found to have been negligent by failing to download safety-critical software updates, for instance, the insurance payout can be reduced.

With 85-90% of road accidents caused by human error, the adoption of self-driving cars is expected to slash the number of small claims made by motorists – and insurance premiums will come down as a result. The industry would be left with more severe claims: when an accident does happen, the cost is likely to be higher because car parts are now bristling with technology and are more expensive to replace.

Some of the world’s biggest carmakers and technology companies including Volvo, Ford, Nissan and Google are vying to develop the first fully automated vehicles. Tesla Autopilot software already allows drivers to take their hands off the wheel in certain circumstances. Blanc said about her Tesla: “Two weekends ago we were driving too close to the kerb and it corrected on my husband’s behalf. It’s starting to think for you.”

The chancellor recently reaffirmed a budget pledge to ensure “genuine driverless vehicles” on Britain’s roads by 2021. Phillip Hammond admitted that it would be a “very challenging” achievement: a million drivers of commercial vehicles would have to retrain.

But others point to progress being made. Waymo, a company that started as part of Google, launched tests of fully driverless taxis on the streets of Phoenix, Arizona, last month. Jaguar Land Rover is testing self-driving vehicles on public roads in Coventry, albeit with a driver in the front seat.

Axa is involved in several self-driving car trials funded by the government, including Venturer in Bristol and UK Autodrive in Milton Keynes.

Output: Insufficient charging infrastructure for electric vehicles (EVs) is hampering the UK's move to autonomous cars, AXA UK & Ireland Group CEO Amanda Blanc has warned. The nation has 14,000 chargers for about 125,000 plug-in EVs. Blanc called for more rapid charging bays outside London and the south-east. She also said the government needed to be smarter with renewables to avoid putting a strain on the National Grid. "Imagine what will happen if everybody comes home from work at six o’clock and switches their cars on to charge," she said.


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TalkTalk Openreach ultrafast broadband rollout behind schedule
 Thursday, Dec 28th, 2017 (2:22 pm) - Score 27,867

Openreach (BT) has announced that their new 330Mbps capable hybrid fibre G.fast broadband network is “now available” to thousands of people in Bath, Glasgow and Edinburgh, although none of the major ISPs have launched public packages and the final EMD phase still hasn’t begun.

Back in August 2017 the operator announced that their G.fast pilot would be expanded to include 26 additional locations across the United Kingdom (total of 46 locations) and this rollout was then “expected to reach a million premises by the end of the year” (here), although more recent updates have clarified that they actually meant “the end of the fiscal year” (BT’s financial year ends on 31st March 2018).

Openreach and BT Wholesale had originally said that G.fast’s Early Market Deployment (EMD) phase, which is the final phase after the pilot and before full commercial service availability, would begin in September 2017 (here) but it appears to be lagging a little behind that plan (ideally they should have completed a bit more than 390,000 premises by now).

A number of ISPs had also been planning to put their own public pilot packages live alongside, or slightly ahead of, the EMD phase during the October to November 2017 window but they now appear to have pushed those plans back into early 2018 (this doesn’t include Sky Broadband or TalkTalk, which have remained fashionably coy about their launch plans).

Industry sources have indicated to ISPreview.co.uk that the decision about whether or not to enter the next EMD phase will be taken soon (possibly during February) and if that’s accurate the earliest date for EMD would be around March / April 2018, which means that a full commercial launch seems unlikely to start before June 2018 at the earliest.

As it stands only a tiny number of ISPs actually have G.fast based packages and nearly all of those are still testing it as part of closed trials (see TalkTalk’s G.fast service), although we hope to see the first public pilot packages going live during Q1 2018 from a few smaller ISPs (assuming EMD isn’t further delayed).

We have asked Openreach to clarify their expectations for the commercial launch, although getting a reply during the Christmas week is perhaps an exercise in wishful thinking. In the meantime we anticipate that Openreach will throw out some similar “now available” style press releases for the other 26 pilot additions, which were first announced in August 2017 and are now slowly reaching completion.

However a lot of those with the desire to be early adopters may be disappointed when they realise that in a fair few areas the old FTTC (VDSL2) service can sometimes deliver a faster speed than G.fast tech, which prefers much shorter copper lines (ideally sub 350 metres). There’s a cross over point where we’ve been seeing VDSL2 speeds beat G.fast by a significant margin, although G.fast’s Fault Threshold of 100Mbps should help to keep some separation at the retail ISP level.

Output: UK telecoms company Openreach is behind schedule in bringing its G.fast broadband network to a million homes by the end of March, according to ispreview.co.uk. Openreach said it had covered 390,000 UK premises, but the slow progress could see further delays to the final Early Market Deployment phase. TalkTalk is currently running closed trials of the G.fast service and has remained tight-lipped about its launch plans.


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Redrow Final push to sell Yorkshire estate homes
 ‘Last chance’ to buy at Devonshire Gardens, Harrogate

Home buyers wishing to take root in Redrow’s Devonshire Gardens, Harrogate, can still have their pick from a choice of homes.

There are only six houses and six apartments available to purchase before Redrow Homes takes a short break at the popular Claro Road development.

Patsy Aicken, sales director for Redrow Homes (Yorkshire), says: “We do have a future phase planned but that won’t be starting for some time so, for now, this is the last chance for people to make Devonshire Gardens their home.”

Although there are only 12 homes left to purchase, the selection is varied with one and two-bedroom apartments and four and five-bedroom houses to choose from.

“That’s good news because it means we can meet the needs of a range of potential buyers, all with very different needs,” Patsy explains. “But, of course, it also means competition to own one of the final properties could be fierce, so those wanting to enjoy the quality of our homes and the lovely location should make a move as soon as they can.”

The homes themselves certainly make it a tempting prospect. The four-bedroom Cleveland townhouse and it’s ‘big sister’, the five-bedroom Cleveland Grand, are classical looking townhouses with a modern twist. Priced at £334,950 and £364,950 respectively they are ideal properties for today’s modern family, with fully fitted kitchen, contemporary appliances, en-suite to master bedroom and ground floor cloakroom among their many attributes.

Redrow is even prepared to pay the stamp duty for the customers who purchase one of these last six houses; and on the Cleveland Grand that could be a massive saving of over £8,000.

The Faversham apartments are priced from only £162,950 for a one-bedroom property and from £224,950 for the larger two-bedroom version. Since launching, they’ve proved perfect for first time buyers and downsizers who want the luxury and manageability of something smaller, as well as investors.

With properties up to £300,000 now exempt from stamp duty for first time buyers there’ll be no tax to pay for them; but Redrow may be able to help those who would still incur the tax – especially downsizers who are moving to free up capital and don’t want to immediately relinquish some of it to the treasury!

Just as the homes suit all, so too does the location.

Devonshire Gardens is close to the grassy parkland of The Stray and within walking distance of the town with its mix of shops, restaurants, museums and galleries. It’s also convenient for road and rail links to Skipton, Leeds and York.

“That makes our homes a wise choice for the financially savvy as well as commuters or those looking for a bolthole in a pretty and popular part of the world,” Patsy adds.

To find out more about the final homes in the current phase, visit Devonshire Gardens’ sales centre. Check the website for opening times - redrow.co.uk/devonshire.

Output: UK housebuilder Redrow is offering to pay up to £8,000 ($10,846) towards the cost of homes on its Devonshire Gardens development in Harrogate. The company said it will pay the sales taxes to sell the last dozen one- to five-bedroom properties on the Yorkshire estate. Patsy Aicken, sales director for Redrow Homes in Yorkshire, said more properties were planned for the site but construction would not begin for some time.


Instruction: create a high quality summary of the given input

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Seven IM warns against 'fashionable' ETFs
 Many of the niche smart beta ETFs that have come to market risk "sinking without a trace" according to an investment manager at Seven Investment Management.

Peter Sleep said equity ETFs are becoming increasingly specialised – to the extent you can now buy ETFs playing themes such as robotics, ageing and millennials.

Mr Sleep said: "This is nothing new, as during the commodity boom we had shipbuilding ETFs, which sank without trace, and coal mining ETFs, that caved in.

"It will be interesting to see whether all these ETFs survive in a Darwinian world and what new ETFs we will see in 2018.”

Mr Sleep said the passive fixed income products currently on the market are often wrongly labelled smart beta because they buy bonds in relation to how long those assets have until maturity, but he thinks the gap in the market is for fixed income products focused on value or momentum styles of investing.

He said equity passive funds that invest in a shares based on market capitalisation traditionally expose the investor only to the risk that the share falls in value, while such passive strategies in the ETF market mean an investor risks owning a bond that defaults, causing the investor to lose all of their money.

Mr Sleep said another innovation for the ETF market could be the advent of products that allow investors to short-sell a particular bond market, something he would regard as a positive for investors.

david.thorpe@ft.com

Output: Increasingly specialised smart-beta exchange-traded funds (ETF) focusing on specific sectors could sink "without a trace", warned Peter Sleep of Seven Investment Management, noting the same happened to shipbuilding and coal-mining focused products, reported David Thorpe in FT Adviser.


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CBOE files with SEC for six bitcoin ETFs
 A computer screen at the Cboe Global Markets exchange (previously referred to as CBOE Holdings, Inc.) shows Bitcoin cash and futures prices on December 19, 2017 in Chicago, Illinois.

Cboe Global Markets has applied with the SEC to list six bitcoin-related exchange-traded funds as the company bets further on the emerging new asset class.

Earlier this month, Cboe jumped ahead of rival exchange CME Group to launch bitcoin futures first.

Here are the six funds:

First Trust Bitcoin Strategy ETF

First Trust Inverse Bitcoin Strategy ETF

REX Bitcoin Strategy ETF

REX Short Bitcoin Strategy ETF

GraniteShares Bitcoin ETF

GraniteShares Short Bitcoin ETF

The exchange-traded funds would allow traders to bet on how the volatile cryptocurrency futures contracts will perform. Cboe filed to list all six funds with the SEC within the past week.

Bitcoin itself has had a rough end to the week. The digital currency briefly sank below $11,000 Friday, down 44 percent from a record high at the start of the week.

"Given the success of the launch of our bitcoin futures, several partners are very interested in moving forward with the development of an exchange-traded product," a Cboe spokesperson told CNBC.

According to the First Trust filing, the fund "intends to invest primarily in Bitcoin Futures Contracts, [though] it may also invest in other Listed Bitcoin Derivatives, OTC Bitcoin Derivatives, U.S. exchange-listed ETPs, and Non-U.S. Component Stocks (collectively, 'Bitcoin Instruments')."

REX ETFs will place a majority of its assets in bitcoin derivatives and cash, but may also invest in U.S. exchange-listed ETPs. The GraniteShares ETFs would follow suit.

The filings by Cboe Global Markets come on the heels of a filing by the NYSE to list two bitcoin ETFs as exchanges compete to get ahead in the cryptocurrency space.

— CNBC's Evelyn Cheng contributed to this report.

Output: CBOE Global Markets has applied to list six bitcoin exchange-traded funds (ETFs) with the Securities and Exchange Commission (SEC). The move comes following the exchange's launch of futures contracts focused on the cryptocurrency. The ETFs are managed by First Trust Advisors, REX ETFs and GraniteShares. Bitcoin dropped below $11,000 for a short time on Friday, marking a 44% drop from its high at the start of last week.


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Blockchain-derived platform cuts back-office costs for banks
 Citi and CME Clearing have teamed up with Baton Systems to implement a blockchain-inspired platform as the firms look to reduce costs of back-office functions.

The platform allows banks to view their collateral in their ledgers in real-time and send cash or securities to clearing houses with one-click.

Citi and CME Clearing explained the software could significantly reduce costs of back-office operations and speed up margin funding times.

Traditionally banks have had to set aside capital as they wait for collateral to be settled, but the platform could see billions of dollars of capital freed up at major institutions.

Stephen Marx, head of futures, clearing, and collateral operations at Citi, explained the new system also automates certain processes to free up time for market participants.

“The technology allows financial institutions to eliminate manual touch points, reduce email traffic an avoid logging into multiple portals. The capabilities in the funding and collateral space create efficiency and improve productivity for our clients,” Marx said.

Arjun Jayaram, CEO of Baton Systems, added the system can be implemented and is immediately scalable across any financial institution, exchange or clearing house.

“Its beauty is its simplicity, leveraging the most useful elements of blockchain, while introducing interoperability and extensibility to easily fit with existing technology 'rails' and business processes,” he commented.

Blockchain technology has now been widely implemented across financial institutions for various processes and functions.

Earlier this month, the Australian Stock Exchange confirmed plans to replace its entire post-trade system, including the clearing and settlement of all equity transactions, with blockchain technology.

Dominic Stevens, CEO at ASX, explained at the time the decision to use blockchain would reduce costs for its customers and put Australia at the forefront of innovation in financial markets.

Output: Banks may no longer need to set aside billions of dollars in capital as they wait for collateral to be settled, thanks to a blockchain-inspired back-office platform introduced by Citi and CME Clearing. The companies partnered with Baton Systems to develop the system, which offers real-time updates on ledger collateral and eliminates the requirement for capital to be set aside to cover settlements, as well as speeding up margin funding times. The software also allows real-time transfer of cash and securities to clearing houses. Other efficiencies include reducing the need for manual intervention and reducing email traffic.


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Root approved to offer policies in Arkansas, Mississippi
 Columbus, Ohio-based insurtech company, Root Insurance, has received authorization to sell property/casualty (excluding workers’ compensation) products in Arkansas.

Root is a private passenger auto insurance company that began operations in June 2016. Root is wholly owned by IBOD Inc. and is currently licensed in 18 states. The company’s policies are reinsured by Munich Re [A.M. Best rated A+ (superior)], Maiden Re [A.M. Best rated A (excellent)], and Odyssey Re [A.M. Best rated A (excellent)].

With the addition of Root, Arkansas Insurance Commissioner Allen Kerr has approved 30 new insurers in the state in 2017.

Root utilizes telematics data, provided by consumers through its smartphone application to more accurately price insurance coverage. Customers will use the application to scan their driver’s license which Root uses to gather data, including their driving history and other demographic information. The application will turn the customer’s phone into a telematics device, gathering additional data about the customer’s driving habits by measuring driving speeds, acceleration and breaking patterns, changing lanes and other activities related to automobile accidents.

Source: Arkansas Insurance Department

Topics Auto Arkansas

Output: Ohio-based firm Root Insurance has been granted a licence to sell insurance products in the US state of Arkansas. The insurtech, which uses telematics data gathered from a smartphone app to offer personalised car insurance, recently also secured a licence to sell car insurance in Mississippi, and has a presence in nine US states. Root also plans to expand to Louisiana, Maryland, North Dakota, Montana and North Carolina.


Instruction: create a high quality summary of the given input

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Root approved to offer policies in Arkansas, Mississippi
 This week, insurance company Root Insurance announced it is now able to offer its services to drivers in Mississippi. The company stated:

“That’s right Mississippi, we’ve arrived, and we’re here to save you from paying too much for car insurance. Because if you’re a good driver in the Magnolia State, chances are pretty high that you’re paying pretty high rates. And we don’t think that’s fair.”

Root then revealed:

“At Root, we rate you based primarily on how you drive. So if you’re a good driver, you can get a great rate on car insurance. That’s all it takes. Or as we like to call it—car insurance the way it should be.”

The company also noted the steps that drivers need to do in order to use its platform:

Download the app and burn through the 47-second signup. (Forget everything you know about insurance forms.) Take the test drive. It’s usually about three weeks. Get a rate based primarily on how you drive—up to 52% off your current rate. Purchase a policy with a few taps

Root added that drivers may manage their policy, file a claim, and find their insurance cards all easily right in the app. The platform will also cancel the driver’s old insurance for them.

Root Insurance is now available in Texas, Oklahoma, Ohio, Pennsylvania, Indiana, Illinois, Kentucky, Arizona, and Utah. It is currently making plans to launch in Louisiana, Arkansas, North Carolina, Maryland, North Dakota, and Montana

Output: Ohio-based firm Root Insurance has been granted a licence to sell insurance products in the US state of Arkansas. The insurtech, which uses telematics data gathered from a smartphone app to offer personalised car insurance, recently also secured a licence to sell car insurance in Mississippi, and has a presence in nine US states. Root also plans to expand to Louisiana, Maryland, North Dakota, Montana and North Carolina.


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Increased number of Indian insurers expected to IPO in 2018
 December 30, 2017 08:37 pm | Updated 09:00 pm IST - New Delhi

More insurance companies are expected to hit the capital markets next year after successful IPOs of five insurers, including two state-owned companies, which collectively raked in about ₹45,000 crore.

Besides the spate of IPOs, 2018 will also witness some consolidation in the insurance space although the merger of Max Life and Max Financial Services with HDFC Standard Life Insurance could not go through.

However, there are other deals that are in the works which may fructify next year.

In the recent past, the insurance sector has seen some consolidation and the action is expected to continue going forward, Bajaj Allianz General Insurance Company CEO Tapan Singhel told PTI.

The insurance industry is witnessing growth and is projected to have great times in the years to come. This offers immense scope for consolidation as some promoters may look at exiting non-core businesses and existing large insurers desire to achieve scale and bring in better synergies to pass on the cost efficiencies to customers and shareholders, he said.

With regard to fund raising, ICICI Lombard was the first to hit the capital market this year and raised ₹5,700 crore from the primary market. Incidentally, the IPO chart in this fiscal was topped by insurance firm GIC Re that garnered over ₹11,176 crore.

Going forward, other state-owned general insurance companies — National Insurance Company, Oriental Insurance Co and United India Insurance Co — are gearing up for listing.

The year also witnessed the entry of new players like Acko General Insurance Company, DHFL General Insurance, Edelweiss General Insurance Company Limited and Go Digit General Insurance.

With this, there are now 9 re-insurance companies, 24 life insurers and 33 general insurers, including 6 standalone health insurance companies, in India.

The insurance sector is growing at a rapid pace, particularly the health insurance segment, said Apollo Munich Health Insurance CEO Antony Jacob.

“Technology-led disruptive ideas are changing the face of business and the category per se is booming with new products being launched and the distribution network being expanded. This trend will continue and insurers will focus on tech-driven ideas,” according to Mr. Jacob.

Though demonetisation and GST have disrupted the business and economic growth in the short run, the growth momentum will return after the economy stabilises, he said.

‘Telematics norms’

“As the sector grows, new entrants would come in with new products. This will further make the market competitive,” he added.

Two major developments that are expected are norms for the usage of telematics in the industry in determining the premium pricing; and amendments to the Motor Vehicles Act.

‘MV Act amendment’

“We expect the Motor Vehicles Act to be passed in the coming year, which will have crucial implications on the insurance industry.

“We would also expect the government to consider providing tax incentives on schemes such as home insurance to attract more Indians to avail this financial protection,” Mr. Singhel said.

IRDAI had issued new guidelines on outsourcing activities by insurers by clearly defining areas of work that should be done in-house and those which can be handed out to third parties.

The regulator said the norms were aimed at ensuring insurers followed prudent practises on management of risks arising out of outsourcing so as to prevent negative systemic impact on the one hand and protect the interests of policyholders on the other.

It also proposed changes in the 16-year old regulations regarding Appointed Actuaries by modifying the framework for their appointment and functions.

Output: Increasing numbers of Indian insurers are predicted to go public in 2018. Last year saw five insurance companies hold successful initial public offerings, including two state-run firms, which collectively raised INR450bn ($7bn). This year, however, is also expected to see some consolidation in the insurance sector, despite the merger of Max Life and Max Financial Services with HDFC Standard Life Insurance falling through.


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Emerson launches surface-sensor oil pipe temperature reader
 Emerson Automation Solutions has introduced a new platform for its RosemountTM X-wellTM Technology surface sensing temperature measurement solution. The technology with a Rosemount 3144P transmitter extends the company’s non-intrusive temperature sensing technology range for users in conventional wired I/O environments.

This product expands potential application possibilities for X-well in plants and facilities where wired networks are already installed, or where WirelessHART has not yet been deployed. Other users have found this new platform solution to be a useful replacement for difficult thermowell installations, which often have a wired connection already available and can be reused.

X-well works by measuring pipe surface temperature and ambient temperature, and combining this information with an understanding of the thermal conductivity properties of the installation and process piping to produce an accurate process temperature measurement.

An advantage of this technology is accurate process temperature measurement without requiring any intrusions or penetrations into the process, allowing for quicker and easier installation along with simplified long-term maintenance. Users do not have to design, size or maintain thermowells. Wake frequency calculations are eliminated, as well as time spent determining material compatibility, the right insertion length and the necessary profile.

Applications for this technology include pipelines, small line sizes, high velocity flows, slurries, heavy particulate fluids, wellheads, clean-in-place processes, high viscosity fluids and harsh processes in the oil and gas, chemical, refining, metals and mining industries.

With X-well, users can also add temperature measurement points without having to shut down a process. The measurement instruments can be installed with a standard pipe clamp procedure and ordinary hand tools, without the need for a skilled contractor.

Output: US electrical company Emerson has extended the potential applications of its temperature-sensor system. The Rosemount X-well technology measures the surface temperature of pipes and uses an algorithm based on the conductive properties of the materials from which the pipe is made to work out the temperature inside. This allows users to obtain an accurate reading without having to intrude into the process or install thermowells to protect sensors. Emerson has now made it available on a new platform for users with wired networks.


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Fluenta unveils extreme-temperature gas-flow gauges
 Fluenta has launched a new range of ultrasonic flow transducers. Its two new transducers enable ultrasonic measurement of gas flow in highly challenging environments.

The high-temperature range transducer can accurately measure gas flow at up to 250°C, allowing the ultrasonic technology to be deployed in a range of flare applications, as well as in the chemical processing industry. The cryogenic transducer is designed to work in processes as cold as -200°C, typically found in the liquefied natural gas (LNG) industry and other gas liquification and chemical processes.

New software and signal processing allows these transducers to function in processes containing up to 100% methane or 100% carbon dioxide, gas mixes which historically have presented challenges to standard ultrasonic flow meters.

Fluenta’s non-intrusive transducers do not interrupt gas flow and can be used across pipe diameters of 6 – 72 in. The new range of transducers and software are compatible with Fluenta’s FGM160, and can be fitted to existing installations.

With government regulation increasingly strict for monitoring flare gas emissions, companies are under pressure to accurately measure and record gas flow.

“These new transducers greatly increase the capacity of Fluenta to meet the needs of our existing customers, and to move into new markets such as chemical processing and liquified natural gas,” comments Sigurd Aase, CEO of Fluenta. “We are investing significantly in ultrasonic gas flow monitoring, and this product launch provides customers with an unrivalled combination flexibility, reliability and accuracy in gas flow monitoring.”

Output: Norwegian company Fluenta has launched two devices that can measure the flow of gas through a pipeline in extreme temperatures. The ultrasonic flow transducers can work on gas mixes of 100% methane or 100% carbon dioxide, something many other gauges are unable to do. The high-temperature transducer aimed at the chemical-processing industry is able to measure gas flow at temperatures up to 250°C, while Fluenta's cryogenic transducer has been designed to function in temperatures as low as -200°C, making it ideal for the liquefied natural gas industry.


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Global warming of 2C could render 25% of globe arid
 Aridity—the ratio of atmospheric water supply (precipitation; P) to demand (potential evapotranspiration; PET)—is projected to decrease (that is, areas will become drier) as a consequence of anthropogenic climate change, exacerbating land degradation and desertification1,2,3,4,5,6. However, the timing of significant aridification relative to natural variability—defined here as the time of emergence for aridification (ToEA)—is unknown, despite its importance in designing and implementing mitigation policies7,8,9,10. Here we estimate ToEA from projections of 27 global climate models (GCMs) under representative concentration pathways (RCPs) RCP4.5 and RCP8.5, and in doing so, identify where emergence occurs before global mean warming reaches 1.5 °C and 2 °C above the pre-industrial level. On the basis of the ensemble median ToEA for each grid cell, aridification emerges over 32% (RCP4.5) and 24% (RCP8.5) of the total land surface before the ensemble median of global mean temperature change reaches 2 °C in each scenario. Moreover, ToEA is avoided in about two-thirds of the above regions if the maximum global warming level is limited to 1.5 °C. Early action for accomplishing the 1.5 °C temperature goal can therefore markedly reduce the likelihood that large regions will face substantial aridification and related impacts.

Output: Global temperature rises of 2C above pre-industrial levels could result in over 25% of the earth’s surface becoming considerably drier, increasing the risk of drought and wildfires and threatening agriculture and biodiversity, according to new research. Restricting global warming to less than 1.5C would save two-thirds of such areas from such severe change. The study analysed projections from 27 global climate models in order to identify the regions that were most at risk, including Central America, southeast Asia, southern Africa, southern Australia and southern Europe. These regions are home to 20% of the world’s current population.


Instruction: create a high quality summary of the given input

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Global warming of 2C could render 25% of globe arid
 More than a quarter of the planet’s surface could become significantly drier if global temperatures rise 2C above pre-industrial levels, scientists predict.

The study, which is one of the most detailed assessments to date of future aridity, suggests that many regions could face an increased threat of drought and wildfires.

Limiting global warming to under 1.5C would avoid extreme changes for two-thirds of these areas, the study suggested.

Chang-Eui Park, the first author from the Southern University of Science and Technology (Sustech) in Shenzhen China, said: “Aridification is a serious threat because it can critically impact areas such as agriculture, water quality, and biodiversity. It can also lead to more droughts and wildfires similar to those seen raging across California.”

Aridity is a measure of the dryness of the land surface, which can be calculated by combining predictions of precipitation and evaporation.

The scientists studied projections from 27 different global climate models to pinpoint regions where the land is expected to become significantly drier, as global warming reaches 1.5C and 2C above pre-industrial levels.

Manoj Joshi, a co-author of the study from the University of East Anglia (UEA), said: “Our research predicts that aridification would emerge over about 20 to 30% of the world’s land surface by the time the global mean temperature change reaches 2C. But two-thirds of the affected regions could avoid significant aridification if warming is limited to 1.5C.”

Drought severity has already increased across the Mediterranean, southern Africa, and the eastern coast of Australia during the 20th century, while semi-arid areas of Mexico, Brazil, southern Africa and Australia have started turning into desert as the world warms. The study suggested that equatorial regions and countries at high latitudes could get wetter.

Prof Tim Osborn, also one of the study’s co-authors from UEA, said: “The areas of the world which would most benefit from keeping warming below 1.5C are parts of south-east Asia, southern Europe, southern Africa, Central America and southern Australia where more than 20% of the world’s population live today.”

The findings are published in the journal Nature Climate Change.

Output: Global temperature rises of 2C above pre-industrial levels could result in over 25% of the earth’s surface becoming considerably drier, increasing the risk of drought and wildfires and threatening agriculture and biodiversity, according to new research. Restricting global warming to less than 1.5C would save two-thirds of such areas from such severe change. The study analysed projections from 27 global climate models in order to identify the regions that were most at risk, including Central America, southeast Asia, southern Africa, southern Australia and southern Europe. These regions are home to 20% of the world’s current population.


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UK recycling plants see rubbish pile up due to Chinese ban
 A ban on imports of millions of tonnes of plastic waste by the Chinese government is already causing a build up of rubbish at recycling plants around the UK and will bring chaos for councils in the weeks ahead, according to industry experts.

Simon Ellin, chief executive of the UK Recycling Association, said his members had already seen some lower grade plastics piling up at their yards and warned urgent action was needed.

“You can already see the impact if you walk round some of our members’ yards. Plastic is building up and if you were to go around those yards in a couple of months’ time the situation would be even worse.”

The Chinese plastic ban came in on 1 January but Ellin said many UK recycling businesses stopped shipping plastic to China in the autumn because of fears it might not arrive before the deadline.

“We have relied on exporting plastic recycling to China for 20 years and now people do not know what is going to happen. A lot of [our members] are now sitting back and seeing what comes out of the woodwork, but people are very worried.”

China’s dominance in manufacturing means that for years it has been the world’s largest importer of recyclable materials. In 2016, it imported 7.3m tonnes of waste plastics from developed countries including the UK, the US and Japan.

British companies alone have shipped more than 2.7m tonnes of plastic waste to China and Hong Kong since 2012 – two-thirds of the UK’s total waste plastic exports, according to data from Greenpeace released last month.

But last summer the Chinese government announced it intended to stop the importation of 24 kinds of solid waste by the end of the year, including polyethylene terephthalate (Pet) drinks bottles, other plastic bottles and containers, and all mixed paper, in a campaign against yang laji or “foreign garbage”.

Ellin warned that the ban could have severe consequences for council recycling in the UK – at least in the short term.

“If it no longer pays for our members to take this waste and sort it once it has been collected by councils then that might stop.

“That might mean that councils no longer collect recycling in the same way. It could be chaos, it really could.”

Michael Gove, the environment secretary, announced a “four-point plan for tackling plastic waste” last month including cutting the total amount of plastic in circulation, reducing the number of different plastics in use and making recycling easier.

But when asked recently about the impact of the China waste ban he said: “I don’t know what impact it will have. It is ... something to which – I will be completely honest – I have not given it sufficient thought.”

Mary Creagh MP, chair of the Environmental Audit Committee, has warned the ban could mean “a double whammy for council tax payers” if the price of exported waste falls and the cost of UK disposal rises. And she has called on the government to invest in more reprocessing facilities at home “to reuse these valuable materials, create green jobs and prevent plastic and paper pollution.”

A Defra spokesperson insisted the government was taking “significant steps” to tackle plastic waste, from the ban on plastic microbeads to the introduction of the carrier bag charge.

“We recognise more needs to be done to protect our environment from the scourge of plastics, and have launched a call for evidence around deposit reward and return schemes for plastic bottles and other drinks containers.”

Some experts believe that in the long term the decision by China could be an opportunity for the UK to develop its recycling infrastructure.

Ellin agreed that if there was the political will this could be an opportunity in the medium term.

“We need to look at the entire system from producing less, to better, simpler design, to standardised recycling. In the medium term this should be seen as a great opportunity for us to drastically improve how we do these things.”

Output: UK recycling plants are already experiencing a build up of rubbish as a result of a Chinese ban on imports of plastic waste. As we reported last month, the ban, which applies to 24 kinds of solid waste, came into effect on 1 January 2018. Two-thirds of the UK’s total plastic waste exports, or over 2.7 million tonnes, have been shipped to China and Hong Kong since 2012. UK Recycling Association CEO, Simon Ellin, warned of possible chaos if councils stopped collecting recycling.


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Drones provide ‘Uber for blood’ in Rwanda
 An ingenious drone delivery service known as “Uber for blood” has slashed the delivery time of life-saving medicine to remote regions of Rwanda from four hours to an average of half an hour.

A partnership between Zipline, a Silicon Valley robotics company, and the country’s health ministry has delivered more than 5,500 units of blood over the past year, often in life-saving situations. Never before have patients in the country received blood so quickly and efficiently.

While commercial drone delivery in wealthier countries is still at the testing stage, hampered by busy skies and strict regulations on airspace, Zipline is delivering blood to 12 regional hospitals from a base in the east of Rwanda. Each hospital serves about half a million people.

The use of drones is helping to reduce maternal deaths – a quarter of which are the result of blood loss during childbirth – and high incidences of malaria-induced anaemia, which is common in children.

Drone delivery also means hospitals can store less blood, which means less waste as blood spoils quickly.

A technician from Zipline installs a cardboard box with a paper parachute in a drone in Muhanga, 50km west of Kigali. Photograph: Stephanie Aglietti/AFP/Getty Images

Now Zipline plans to work with the government of Tanzania, a country of 56 million people, to launch what it claims is the world’s largest drone delivery network.

Keller Rinaudo, Zipline’s co-founder and chief executive officer, said the move will make east Africa a world leader in drone logistics.

“Some of the biggest, most powerful technology companies in the world are still trying to figure out how to do this. But east Africa is showing them all the way,” he said. “The work in Rwanda has shown the world what’s possible when you make a national commitment to expand healthcare access with drones and help save lives.”

The idea for the drones came during a visit Rinaudo made to the Ifakara health institute in Tanzania, in 2014. He met a graduate student who had built a mobile alert system for health workers to text emergency requests for medicine and vaccines. A network of community health workers used the mobile alert system to make thousands of requests.

But there was a problem – there was no way for the government to fulfil these requests. “It became clear that this was a database of death filled with thousands of names, addresses, ages and phone numbers,” said Rinaudo.

“We’ve designed Zipline to solve the second half of this problem. We know who needs medicine, when and where. And now, we can get them that medicine as quickly as possible.”

This year, the firm aims to deliver a range of medical products – including blood transfusion supplies, HIV medication, antimalarials, sutures and UV tubes – to four bases in Tanzania, supporting more than 1,000 clinics.

In Rwanda, when a doctor or medical staffer at one of the 12 clinics needs blood, they send a WhatsApp message or log on to Zipline’s order site. They are then sent a confirmation message saying a Zip drone is on its way.

A Zipline worker technician launches a drone in Muhanga. Photograph: Stephanie Aglietti/AFP/Getty Images

The drone flies to the clinic at up to 60mph. When it is within a minute of the destination, the doctor receives a text. The drone then drops the package, attached to a parachute, into a special zone near the clinic before returning to base.

Critics of the scheme in Rwanda have questioned why the authorities have invested in hi-tech schemes when demand for basic infrastructure, roads and health centres still exceeds supply. Zipline and the government have not revealed the cost of the project.

But a spokesman for the Rwandan health ministry said: “The ministry of health and Rwanda Biomedical Center are happy to use such innovative technology to reduce the average delivery time from four hours to less than 45 minutes, with quick and reliable delivery [of] blood products.”

Output: A drone delivery service, partnering Silicon Valley robotics firm Zipline with Rwanda’s health ministry, has delivered over 5,500 units of blood in the past year, reducing delivery times to remote regions from four hours to an average of 30 minutes. Zipline supplies blood to 12 regional hospitals, each of which serves half a million people. The service has reduced maternal deaths and malaria-induced anaemia, as well as limiting waste by reducing the amount of blood that hospitals need to store. The company now plans to launch the largest drone delivery network in the world in Tanzania.


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Pret a Manger introduces 50p discount for reusable cups
 Customers who bring reusable cups to Pret a Manger will be given a 50p discount on hot drinks after the company introduced the measure and said it was hoping to change people’s habits and reduce waste.

The sandwich chain has been offering 25p discounts to customers using reusable cups since 2017, alongside Costa and Starbucks. CEO Clive Schlee said he hoped that doubling the discount would make a difference, following other initiatives to reduce waste such as not using plastic cup stoppers in inner city Pret shops.

On Tuesday, Schlee tweeted: “I’m delighted you can now get 50p off a hot drink when you bring your reusable cup to Pret. I hope this will make a difference.”

Last month he said the company was considering the move “to help change habits. It’s well known that ‘reduce’ is better than ‘recycle’.”

Customers in one Pret shop in Kings Cross said they liked the idea and would consider bringing in their own reusable cups, while a barista said many people opt for reusable cups already with the current 25p discount. “In the mornings, most people coming in use their own reusable cups,” he said.

Each year, the UK throws away an estimated 2.5bn coffee cups, almost 5,000 a minute. While these cups are recyclable fewer than one in 400 of them are because of difficulties in separating their plastic and paper parts.

A government report has also found that red tape in the waste industry often gets in the way of effective recycling. Researchers suggested charging customers for using paper cups to reduce waste but Schlee says Pret decided against it as “it goes against our instincts as we would prefer to be generous to our customers than to tax them”.

Chancellor Philip Hammond signalled that taxes or charges could be levied on single-use plastics to help the UK lead the way on tackling “the scourge” littering the environment in his November budget statement.

It comes amid rising concern about the problem of plastic waste in the oceans, harming and killing wildlife and entering the food chain, highlighted most recently in the BBC’s Blue Planet II documentary series.

It follows the introduction of a 5p charge on single-use plastic carrier bags, which is credited with driving down how many are used by 85%, and calls to bring in charges on items ranging from plastic drinks bottles to disposable coffee cups.

Output: Pret a Manger has doubled the discount it offers on hot drinks to customers with reusable cups to 50p. The sandwich chain, along with Costa and Starbucks, has been offering a discount of 25p to such customers since 2017. The move follows other waste reduction initiatives by the company, including abandoning the use of plastic cup stoppers in inner city Pret branches. The UK discards 2.5 billion coffee cups each year, with fewer than one in 400 being recycled.


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Iran sees biggest protests since 2009 as economic hardships bite
 Tens of thousands of people have protested across the country since 28 December against the Islamic Republic's government and clerical elite.

Police in the centre of Tehran fired water cannons to try to disperse demonstrators, according to pictures on social media. Two protesters were reportedly killed in firing by Iranian security forces on 30 December

Demonstrations turned violent in Shahin Shahr in central Iran. Videos showed protesters attacking the police, turning over a car and setting it on fire. Reuters could not immediately verify the authenticity of the footage.

There were also reports of demonstrations in the western cities of Sanandaj and Kermanshah as well as Chabahar in the southeast and Ilam and Izeh in the southwest.

Output: Iran is seeing its largest protests since 2009. They began over economic grievances but have taken on a political dimension, resulting in more than a dozen deaths and hundreds of arrests. Police stations have been attacked and  security forces are struggling to contain the uprisings. Iran is a major OPEC member and regional power but there is increasing frustration over its involvement in Syria and Iraq as it battles for regional influence to rival Saudi Arabia. Iranians want the government to create jobs -- youth unemployment reached 28.8% in 2017 -- rather than get involved in costly proxy wars.


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Mushroom enzymes could reduce environmental impact of laundry
 COPENHAGEN — A Danish biotechnology company is trying to fight climate change — one laundry load at a time. Its secret weapon: mushrooms like those in a dormant forest outside Copenhagen.

In the quest for a more environmentally friendly detergent, two scientists at the company, Novozymes, regularly trudge through the mud, hunting for oyster mushrooms that protrude from a fallen beech or bracken fungi that feast on tough plant fibers. They are studying the enzymes in mushrooms that speed up chemical reactions or natural processes like decay.

“There is a lot going on here, if you know what to look for,” said Mikako Sasa, one of the Novozymes scientists.

Their work is helping the company develop enzymes for laundry and dishwasher detergents that would require less water, or that would work just as effectively at lower temperatures. The energy savings could be significant. Washing machines, for instance, account for over 6 percent of household electricity use in the European Union.

Output: Environmentally friendly detergents using enzymes from items including mushrooms are being developed by Danish biotechnology firm, Novozymes. Enzyme detergents, for use in washing machines and dishwashers, work at lower temperatures, require less water and use less soap from palm oil and petrochemicals than traditional alternatives. Washing machines are currently responsible for over 6% of European Union household electricity use. Novozymes has also developed a enzyme being used in China that it hopes will prevent people in that country starting to wash clothes at higher temperatures as they become wealthier, claiming this would constitute “a phenomenal sustainability story”.


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Tesco criticised for food waste after CEO’s pledge
 The cages of in-date produce which were allegedly binned by a Tesco store in Devon (Picture: SWNS)

A Tesco worker was told to throw away six cages of in-date vegetables that could have been given to homeless charities or food banks.

The employee at the Exeter Vale Tesco Extra in Devon said they ‘could not believe their eyes’ as hundreds of bags of carrots and potatoes well within their sell-by date were binned.

Army corporal who raped female soldier said condom made it 'fine'

They spotted the cages stuffed with food on Christmas Eve.

Some of the stock was dated December 30, meaning it would have been fresh for an entire week.

‘It was really getting to me all over Christmas,’ the employee – who wished to remain anonymous – told Devon Live.

‘While I tucked into my dinner, all I could think of is how that food could have helped people who cook meals for the homeless.

The cages were photographed on Christmas Eve and held potatoes and carrots (Picture: SWNS)

‘Why couldn’t they just reduce it to 10p or less over the next few days, so it had chance to sell?’

Tesco defended the incident, claiming the stock was unsuitable for a charity donation and said the potatoes were ‘unfit for sale’ but did not comment on the carrots.

A spokesman for Tesco said: ‘All food in our stores that is fit for consumption is either sold or offered to charities and community groups through our Community Food Connection scheme, with our Exeter Vale Extra store so far providing more than 9,000 meals through the scheme to help people in need.

‘All unsold food that was fit for consumption was offered by the store to local groups, however shortly before Christmas, the Exeter Vale store received a delivery of potatoes that store colleagues found were unfit to sell or offer to local groups.

‘Where products cannot be donated or are unfit for sale these products are put aside until they can be sent for anaerobic digestion.’

The worker was horrified to be told to throw away masses of the in-date vegetables (Picture: SWNS)

Tesco chief executive Dave Lewis recently said no food fit for human consumption will be wasted by their UK stores by the end of February.

He said edible food should be used for people, and not go to waste.

Army corporal who raped female soldier said condom made it 'fine'

Tesco, alongside all major UK supermarkets including Sainsbury’s and Morrisons, has signed a commitment to cut food waste by one-fifth within a decade as part of the Courtauld Commitment 2025.

The supermarket chain has come under fire in the past week by customers who complained about ‘rancid’ and ‘rotten’ turkeys bought for their Christmas dinners.

The company is refunding and compensating customers after being bombarded with complaints on social media.

MORE : Why you should just tell your partner if they’ve gotten chubby over Christmas

MORE : Girl, 9, spends birthday money on helping the homeless at Christmas

Output: Tesco has faced criticism in relation to edible food waste over the Christmas period. An employee at a branch of the supermarket in Devon claimed to have been told to throw away six cages of vegetables that were still in-date on Christmas Eve. Just two days earlier, Tesco CEO, Dave Lewis, had announced a commitment that no food fit for human consumption should go to waste in UK branches by the end of February. All leading UK supermarkets, including Tesco, have pledged to reduce food waste by 20% within a decade under the government-backed initiative, the Courtauld Commitment 2025.


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Climate change could triple migration to Europe by 2100
 T he devastating effects of climate change may drive up the number of migrants seeking asylum in Europe if current trends continue, a new study has shown.

By the end of the century the number of migrants attempting to settle in Europe annually will triple, based on current climate trends alone, according to the research.

Wolfram Schlenker, author of the report, which was published in the journal Science on Thursday, said that we will see “increasing numbers of desperate people fleeing their home countries”.

He predicts that, even if international efforts to curb global warming are successful, the number of asylum applications may rise by as much as a quarter before 2100.

Mr Schlenker said his predictions are based only on climate changes’ impact on migration, and is independent of other economic and political factors.

Asylum applications could increase on average by 28 per cent, which is an additional 660,000, according to the study.

The effects of climate change is predicted to bring more extreme weather including floods, droughts and heatwaves as well as more intense storms and rising sea levels.

The new study, led by scientists at Columbia University in New York, was predominantly funded by the EU’s Joint Research Centre. The US Department of Energy also contributed.

The authors examined asylum applications in the EU from 103 countries between 2000 and 2014, during this time, applications averaged at more than 350,000 a year.

They compared the applications with information on environmental factors, adjusting the data for factors such as conflict and political turmoil.

Scientists spotted a trend correlating weather and changes in the number of asylum applications.

Countries with average temperatures around 20C showed a higher number of applications, while there were fewer asylum seekers from places with cooler temperatures.

The data showed that the more temperatures in a country’s key agricultural regions rose above 20C in the growing season, the more people left for another country.

They founded increases in the number of migrants from hot places such as Iraq and Pakistan when temperatures increased.

Bob Ward, policy and communications director at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics (LSE) said the study should be taken seriously by policymakers.

Speaking to the Guardian, he added that forecasting models often fail to take climate factors into account.

He told the newspaper: “This study shows how Europe will be impacted by one of the most serious impacts of climate change. Hundreds of millions, perhaps billions, of people will be exposed to coastal sea level rise and shifts in extreme weather that will cause mass migrations away from the most vulnerable locations.

“We know from human history that such migrations often lead to conflict and war, with devastating consequences. The huge potential costs of migration-related conflict are usually omitted from economic models of climate change impacts in the future.”

Output: Annual migration to Europe could triple by the end of the century due to climate change, according to a study from New York’s Columbia University. The study’s author, Wolfram Schlenker, stated that even if efforts to curtail global warming succeeded, asylum applications could still rise by 25% by 2100. The research, which focused only on the impact of climate change on migration, excluding other economic and political factors, analysed asylum applications to European Union states from 103 countries between 2000 and 2014. Countries with average temperatures of 20C produced higher number of applications.


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Iberdrola awarded 295 MW of wind in Brazilian auction
 Through its subsidiary Neoenergia, Spanish utility Iberdrola (BME:IBE) has secured 295 MW of wind power capacity in the Brazilian auction this week.

Neoenergia will construct nine wind farms in the Santa Luzia area of the northeastern state of Paraiba and bring then online by January 2022. These projects will increase Neoenergia's wind capacity in operation or under construction to over 800 MW.

Iberdrola said this is its first major step in Brazil after completing the merger of Neoenergia with its Brazilian unit Elektro earlier this year. Neoenergia recently cancelled plans for an initial public offering (IPO).

Brazil awarded more than 3,841.6 MW of clean power supply contracts in the tender. Wind power was the biggest seller with over 1,386.6 MW across 49 projects, led by Enel SpA (BIT:ENEL) with some 618 MW.

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Output: Spanish utility Iberdrola has secured 295 MW of wind power capacity in a Brazilian auction, which saw more than 3,841 MW of clean power supply contracts awarded. The deal will see Iberdrola's subsidiary, Neoenergia, develop and bring online nine wind farms in the state of Paraiba by January 2022, increasing Neoenergia's wind capacity to over 800 MW. The project represents Iberdrola's first major step in Brazil after merging Neoenergia with its Brazilian unit Elektro earlier this year.


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Shell acquires UK's First Utility in retail power push
 First Utility's energy monitoring software has helped it become a firm favorite among British households.

First Utility, which is the largest independent energy company in the U.K., has today been sold to Shell Petroleum Company for an undisclosed sum.

The acquisition of First Utility by Shell means that the Dutch-British oil giant now has a firm footing in the British home energy market following First Utility’s recent growth to become a main challenger to the ‘Big Six’ energy providers that currently dominate the U.K. landscape.

First Utility will continue to operate as a standalone entity in Shell’s New Energies division – a move that company co-founder and CFO Darren Braham believes can help the firm continue its disruption of the old energy guard.

“This move will help us to capitalize on all the opportunities provided by digitalization, decarbonization and the move to battery technology and electric vehicles,” Braham said.

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First Utility’s growth in recent years was underpinned by its embrace of connected home technology, which allows homeowners to easily switch their energy provider and gain a firmer grip on their consumption patterns via its smart home platform, which supports technologies such as Google’s Nest and British Gas’s Hive smart home monitor.

The company is also a leading broadband provider, and its synchronization of internet service and smart home energy management has caught Shell’s eye as the oil conglomerate continues to ramp up its clean energy footprint.

The deal follows less than a week after BP bought British solar power developer Lightsource for a reported $200 million.

Output: Shell has acquired the UK's largest independent energy provider, First Utility, for an undisclosed sum. The energy provider, which also supplies broadband services and smart home energy management, will continue to operate as an independent entity under Shell's "New Energies" division. First Utility CFO Darren Braham said the move will help the provider to "capitalise on all the opportunities provided by digitalisation, decarbonisation and the move to battery technology and electric vehicles", whilst continuing to disrupt the Big Six-dominated UK retail-energy market.