Instruction: create a high quality summary of the given input

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Siemens and PAS announce industrial cybersecurity partnership
 Siemens, PAS announce partnership to provide industrial control system cybersecurity

Siemens and PAS Global, a provider of industrial control system (ICS) cybersecurity solutions, announced an agreement to provide fleet-wide, real time monitoring for control systems. By leveraging the unique capabilities of both companies, this partnership will provide customers with deep analytics required to identify and inventory proprietary assets; and visibility to detect and respond effectively to attacks across the operating environment.

According to recent research conducted by Ponemon Institute on the state of cybersecurity in the US oil and gas industry, deployment of cybersecurity measures in the industry isn’t keeping pace with the growth of digitalization in oil and gas operations. Just 35% of survey respondents rate their organization’s OT cyber readiness as high. Sixty-eight percent of respondents say their organization experienced at least one cyber compromise, while 61% say their organization’s industrial control systems protection and security is not adequate.

The Siemens-PAS global strategic partnership bridges the visibility gap for distributed, legacy control assets to provide a comprehensive view into fleet security. Focused on gathering detailed configuration data down to the sensor, the Siemens-PAS partnership will enable customers to secure proprietary systems in multi-vendor environments—guarding against cyber attacks as well as unauthorized engineering changes.

As an industrial technology provider for more than 165 yr, Siemens has an inherent and holistic understanding of how to manage cyber risk in complex operating environments. A leader in the OT industry, Siemens brings to the partnership deep domain know-how and solutions for OT cyber, including security program design, security lifecycle management, plant security monitoring, and incident response.

For more than two decades, PAS has solved operational and security challenges for leading chemical, refining and power companies across the globe. Its best-in-class Cyber Integrity solution provides foundational inventory management that covers all the major cyber assets found in plants today. The solution detects new or missing devices, aggregates configuration data at the asset level, baselines security-related data to monitor for change, and captures system interdependencies.

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Output: Siemens is partnering with industrial control system cybersecurity solutions provider PAS Global, to offer real-time monitoring for control systems in the oil and gas industry. The Siemens-PAS joint venture enables customers to guard against cyber attacks and unauthorised engineering changes by securing proprietary systems in multi-vendor environments. More than 60% of organisations' industrial control systems protection and security is inadequate, according to a survey by Ponemon Institute.


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Japanese childcare robots aim to ease burden of staff shortages
 Japan introduced Care bear robots to relieve staff shortages in child care centres

Japanese designed Robots to look after children in child care centres to come up with the challenge of nation’s acute shortage of childcare staff.

This initiative is taken by a Tokyo-based childcare and nursing start-up named “Global Bridge Holdings” in collaboration with Gunma University academics to build up a new system by means of robots and sensors to keep an eye on children.

The core gadget presented by the startup is a robot called “Vevo” having a bear-shaped head and humanoid body, which is capable to recognize and welcome children as well as could record their body temperatures by a thermograph.

There is separate built-in sensors system in robots through which they can monitor the heart rate and movement of children during their sleep time in their cots, and if they find any abnormalities the alarms would trigger.

The new incorporated scheme of robots is currently being trialled at a Tokyo nursery, which is among one of 27 countrywide child care centres run by Global Bridge Holdings. They have planned to introduce it in a second facility in Gunma Prefecture in the coming months.

Now the company is hoping to commercialize and put up for sale the system for approximately four million yen (£28,000) from next April.

The creation of the robots was need of the hour for Japan’s crisis-hit childcare industry, which is suffering a national scale staff shortage due to the long working hours and low wages that go hand in hand with working in nurseries.

According to the Japanese health, labour and welfare ministry “ 26,081 children were on waiting lists for daycare facilities on April 1at the start of this academic year –getting higher by 2,528 compared to last year.

Yuji Takashima, a spokesperson for Social Solutions, the Global Bridge Holdings subsidiary behind the childcare robotics project, said,

“We believe that by supporting childcare education with this robot, we can contribute to resolving the shortage of nursery teacher and improving the quality of education.”

Robotics are increasingly being utilised in Japan to counter human labour shortages, as the nation struggles with a rapidly ageing population.

In Japan, robots are replacing human staff rapidly and implementing the theory of robotics technology to alleviate staff shortages and implementing the cost-cutting cut strategy.

According to recent reports, One Japanese Company has even trained a robot as a Buddhist priest-for-hire, line up it to read scriptures, chant prayers and tap drums to take part in funeral ceremonies.

Output: Tokyo-based childcare and nursing start-up Global Bridge Holdings has teamed up with researchers at Gunma University to develop Vevo, a bear-like robot aimed at helping to address the chronic shortage of child care staff. The robot uses facial recognition technology to identify children, as well as sensors that  monitor their heart rate and movements while they sleep. Vevo is being tested at one of Global Bridge Holdings' Tokyo facilities. The company hopes to sell the system for around JPY4m ($35,728) from next April.


Instruction: create a high quality summary of the given input

Input:
UKEF to offer political risk coverage for overseas investors
 By Richard Crump (September 19, 2017, 12:52 PM EDT) -- Britain's export credit agency is to offer U.K. businesses wider access to government-backed insurance to protect firms investing abroad against political risk, the government's international trade minister said on Tuesday....

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Output: UK Export Finance, the country's export credit agency, is set to extend a greater degree of protection to British exporters. The agency is broadening the reach of insurance it offers to include political risk. The new policy would offer cover for civil war, revolution or nationalisation of an exporter-owned entity. The government-backed policy has been established to satisfy demand from exporters who have difficulty finding private-sector solutions to their needs.


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British Columbia ferry company to convert largest vessels to LNG
 BC Ferries has announced that the Spirit of British Columbia has been removed from service to undergo a mid-life upgrade, which will include converting the vessel to operate on LNG.

The vessel will transit to the company’s fleet maintenance unit in Richmond, before departing to Remontowa Ship Repair Yard S.A. of Gdansk, Poland, to complete the mid-life upgrade. Whilst at the fleet maintenance unit, a number of preparations will be carried out. These will include the installation of a wave break on the main car deck forward section, marine pilot access arrangements and voyage logistical provisions. In addition to this, safety inspections will be carried out, and vessel equipment not required during the transit or at the shipyard will be de-stored. BC Ferries claims that the transit should take approximately 42 days, depending on the weather.

Last year, the company awarded a contract to Remontowa Ship Repair Yard S.A. to conduct the Spirit Class mid-life upgrades. These include the conversion of both vessels to dual-fuel, allowing them to operate on either LNG or ultra-low sulfur marine diesel.

Mark Wilson, BC Ferries’ Vice President of Engineering, said: “Last fiscal year, we spent approximately $100.2 million on diesel fuel of which the two Spirit Class vessels consumed approximately 15.5%.

“LNG costs significantly less than marine diesel. The conversion of the two largest ships in the fleet along with the three new dual-fuel Salish Class vessels that all entered service this year will go a long way to help both our environmental footprint and with fare affordability for our customers.”

As well as the conversion to LNG, the vessel’s passenger areas will also be upgraded. This will include new carpeting, refurbished washrooms, an expanded gift shop, and an additional washroom on Deck 5, as well as a new coffee bar on Deck 6. Upgrades to the passenger elevators include renewal of mechanical and electrical drive components, emergency communication system and electrical and control systems.

As part of the upgrade, the navigation equipment and air conditioning equipment will also be renewed, as will the propulsion equipment components, including: rudders; steering system; bow thrusters; propeller blades; and LED lighting.

The vessel will be the first ship to undergo its mid-life upgrade and conversion. The upgrade will be completed from Autumn 2017 through the Spring of next year. The Spirit of Vancouver Island will follow, commencing in the Autumn of 2018 through the spring of 2019. This schedule will allow both vessels to be back in operation during the summer months, when traffic is at its highest.

Output: Canadian firm BC Ferries has revealed its Spirit of British Columbia vessel will be converted to operate on liquified natural gas (LNG) as part of a mid-life upgrade, followed by sister ship Spirit of Vancouver Island. The company spent $100m on diesel fuel during the last fiscal year, with more than 15% consumed by the Spirit class vessels. "LNG costs significantly less than marine diesel. The conversion of the two largest ships in the fleet… will go a long way to help both our environmental footprint and fare affordability for our customers," said Mark Wilson, BC Ferries’ vice-president of engineering.


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First LNG ship-to-ship bunkering takes place off Danish coast
 For the first time the Skangas’ Coralius bunkered LNG to a vessel.

The operation took place on international waters, Northern Kattegat, in the middle of the sea between Frederikshavn, Denmark and Gothenburg, Sweden.

“The bunkering of Fure West confirmed that Coralius delivers in accordance with what she is built for”, says Kimmo Rahkamo, CEO of Skangas. “This is a key milestone in our history of developing the LNG availability. We are happy working together with our customer Furetank for this first of several upcoming ship-to-ship (STS) bunkerings.”

The receiving vessel, Fure West, is an oil and chemical tanker with a length of 144 m. She operates mainly in the Baltic and Kattegat area. In 2015 the Furetank Rederi retrofitted the tanker pioneering the use of LNG as marine fuel in Europe. An LNG fueled vessel needs the equivalent service as with conventional fuel by swift and safe operation and fast fuel transfer at sea, not only at the port. Coralius is built with state-of-the-art bunkering equipment to meet exactly this increasing demand for STS LNG bunkering.

LNG is the cleanest available marine fuel, one that is rapidly becoming more commonly viewed – and used - as a cost-effective alternative. LNG is suitable for all vessel types, including ferries, passenger ships, tankers, bulk, supply and containerships. LNG offers several benefits by reducing local pollution and the global environment. Switching to LNG completely removes SO X and particles, and reduces NO X emissions by up to 85%. In addition, LNG reduces CO 2 emissions by at least 20%. Use of LNG as marine fuel also results in compliance with current and forthcoming IMO and EU regulations.

Skangas expects the LNG demand for ships to increase significantly in next few years as responsible shipping companies are seeking cleaner fuel alternatives.

Output: Norwegian firm Skangas's state-of-the-art vessel Coralius bunkered liquified natural gas (LNG) for the first time to a receiving vessel, oil and chemical tanker Fure West. The transfer took place in international waters between Frederikshavn in Denmark and Gothenburg in Sweden. Skangas expects demand for LNG, the cleanest available marine fuel, to increase rapidly in the coming years.


Instruction: create a high quality summary of the given input

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Gender roles imposed in early adolescence worldwide
 Across the world, from Beijing to Baltimore, children are straitjacketed into gender roles in early adolescence, with the world expanding for boys and closing in for girls, according to new research.

The Global Early Adolescent Study breaks new ground by talking to children and their parents in 15 countries around the world and finding a remarkably similar story. Girls approaching adolescence are considered vulnerable and protected, while boys are set free to roam and explore. That has consequences for their behaviour and expectations throughout their life.

“We found children at a very early age – from the most conservative to the most liberal societies – quickly internalise this myth that girls are vulnerable and boys are strong and independent,” said Robert Blum, director of the Global Early Adolescent Study, based at Johns Hopkins University. “And this message is being constantly reinforced at almost every turn, by siblings, classmates, teachers, parents, guardians, relatives, clergy and coaches.”

Over four years, the researchers talked to 450 children aged 10 to 14 with a parent or guardian, from low-income families in Bolivia, Belgium, Burkina Faso, China, the Democratic Republic of Congo, Ecuador, Egypt, India, Kenya, Malawi, Nigeria, Scotland, South Africa, the United States and Vietnam for the research produced with the World Health Organisation.

The researchers found that gender-based restrictions rationalised as “protecting” girls actually made them more vulnerable by emphasising subservience and implicitly sanctioning even physical abuse as punishment for violating norms. They say that in many parts of the world these stereotypes leave girls at greater risk of dropping out of school or suffering physical and sexual violence, child marriage, early pregnancy, HIV and other sexually transmitted infections.

Boys in both New Delhi and Shanghai, for instance, talked about being encouraged to spend time outside of the home in unsupervised exploration of their environment, while girls said they were told to stay home and do chores. Shaming and beatings for those who sought to cross the divide was reported by girls and boys in both cities.

Some parents accepted that boys were not always strong and independent. But, says the report, “even in sites where parents acknowledged the vulnerability of their sons, they focus on protecting their daughters.”

Much of it is about girls’ sexuality. “Around the world pubertal boys are viewed as predators and girls as potential targets and victims. Messages such as ‘do not sit like that, do not wear that, do not talk to him, boys will ruin your future’ support the gender division of power … In some places, girls come to internalise these norms to even a greater extent than boys,” says one of the papers in the study published in a special supplement of the Journal of Adolescent Health.

Girls’ mobility is restricted. “A girl cannot go out as she wishes because she is a girl and if a girl came home late her parents would shout at her, but it is okay for a guy,” said a girl in Assuit, Egypt.

Both girls and boys were saddened that their early easy relationship with the opposite sex was no longer allowed. “They played together as children and were friends, but now with puberty, those friendships are no longer legitimate,” says the report.

Even in wealthier parts of the world, the gender norms were still apparent. Edinburgh in Scotland was the only city where boys and girls did not think the boy must always take the initiative in a relationship. In every country, young girls talked of a constant emphasis on their physical appearance and had been taught that their bodies were their key asset.

“In New Delhi, the girls talked about their bodies as a big risk that needs to be covered up, while in Baltimore girls told us their primary asset was their bodies and that they need to look appealing – but not too appealing,” said Kristin Mmari, associate professor and the study’s lead researcher for the qualitative research.

Boys are not unscathed, says the report. Because of these gender norms, “they engage in and are the victims of physical violence to a much greater extent than girls; they die more frequently from unintentional injuries, are more prone to substance abuse and suicide; and as adults their life expectancy is shorter than that of women. Such differences are socially not biologically determined.”

One paper compared young people’s attitudes in China, India, Belgium and the United States. It was more acceptable for girls to push against the gender boundary than it was for boys.

In all four countries, it appeared to be increasingly acceptable for girls to engage in certain stereotypically male behaviours, like wearing trousers, playing sports and pursuing careers. But “boys who challenge gender norms by their dress or behaviour were by many respondents seen as socially inferior,” said the researchers. Both boys and girls said the consequences for boys who were perceived as adopting feminine behaviour, like painting their nails, ranged from being bullied and teased to being physically assaulted.

The authors say interventions to change gender stereotyping need to happen at a much earlier age. By the age of 10, it can be too late. “Adolescent health risks are shaped by behaviours rooted in gender roles that can be well established in kids by the time they are 10 or 11 years old,” said Mmari.

“Yet we see billions of dollars around the world invested in adolescent health programs that don’t kick in until they are 15, and by then it’s probably too late to make a big difference.”

Output: Children around the world are forced into restrictive gender roles at a young age, according to The Global Early Adolescent Study. The study, which interviewed children and parents in 15 countries, found remarkably similar trends across the globe. As adolescence approaches, girls are deemed “vulnerable”, while boys are encouraged to explore. Such stereotypes put girls at greater risk of leaving school early, suffering violence, early marriage, young pregnancy and contracting sexually transmitted infections. Boys, by contrast, are more prone to violence, substance abuse and suicide. The study calls for earlier interventions to challenge stereotyping.


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Arctic sea ice summer minimum continues downward trend
 Arctic sea ice has dwindled to its summer minimum for 2017, with its smallest extent for the year clocking in at 4.64m square kilometres (sq km) on 13 September.

At 1.58m sq km below the 1981-2010 average, this puts 2017 as the eight lowest summer minimum in the satellite record, according to preliminary figures from the US National Snow and Ice Data Centre (NSIDC). The record low remains 3.39m sq km, which was set in 2012.

Even though it wasn’t a record low, an NSIDC scientist tells Carbon Brief that the long-term downwards trend has continued with sea ice extent falling below 5m sq km again this year. This had never happened in the satellite record before 2007.

Pinpointing the minimum

Scientists have been tracking the daily changes in Arctic sea ice cover using satellites in a continuous record that stretches back to 1978-79. Notable events, such as the annual minimum and maximum extents, serve as an indicator of how the Arctic is changing as global temperatures rise.

Back in March, Arctic sea ice hit its lowest winter maximum on record for the third year in a row. Since then, Arctic sea ice has been on its annual decline through the melt season of spring and summer.

At the time of the record low winter peak, Carbon Brief asked some polar scientists to put the much-reported findings in context. You can watch the video of their responses here.

Scientists keep a close eye around the time the low is normally reached – usually early-to-mid september – then look for signs of ice accumulating again in order to pinpoint exactly when the summer minimum extent is reached.

This year, that minimum point was on 13 September, when Arctic sea ice extent declined to 4.64m sq km.

That means nine of the 10 lowest summer minima in the satellite record have occurred in the last 10 years, says Prof Julienne Stroeve, a professor of polar observation and modelling at University College London and senior research scientist at the NSIDC. She tells Carbon Brief:

“Even though we didn’t reach a new record low, the extent fell below 5m sq km, something which never happened before 2007.”

The chart below shows how the Arctic sea ice extent (sq km) has changed from May to September over the past five years. Years shown include 2017 (blue line), 2016 (green), 2015 (orange), 2014 (brown), 2013 (purple), and 2012 (dashed brown).

The map below shows the Arctic sea ice extent for 13 September alongside the 1981-2010 average extent for that day (orange line). The ice edge has continued to retreat in the Chukchi, East Siberian, and Kara Seas, but it has slightly expanded in the Beaufort and Laptev Seas.

Fluctuations and trends

After a series of record low months earlier in 2017, the summer melt season has been relative sluggish at times.

This year, summer temperatures in the Arctic have been relatively moderate for such high latitudes and have even been cooler than average in some parts.

This shows that even with a record low winter maximum in March, it doesn’t necessarily translate into very low summer extent as well. Short-term fluctuations in weather play a large role in changes from month to month, says Stroeve, on top of the long-term decline. She explains:

“I think this summer shows that despite preconditioning (thin ice, less extent), summer weather conditions largely govern how much ice will be left at the end of summer.”

It is for this reason that the size of the sea ice winter maximum is not necessarily a robust indicator of how the subsequent summer will play out, says Prof Ed Hawkins, professor of climate science at the University of Reading. He tells Carbon Brief:

“Changes in summer ice extent are dominated by the long-term downwards trend, but are also strongly influenced by the weather in each particular summer. There are large swings from year-to-year, rather like a ball bouncing down a bumpy hill.”

(You can read more about this “bouncing ball” analogy in Hawkins’ guest post for Carbon Brief from 2015.)

Although the annual minimum has become an iconic barometer of the decline in Arctic sea ice, it’s not the most reliable indicator of how Arctic sea ice is changing, says Hawkins:

“When looking across the seasons, the long-term trend becomes clearer. The lowest annual average ice extent was in 2016, even though the summer minimum was above the dramatic loss of 2012. For the January-August average, 2017 is the second lowest in the satellite era, after 2016.”

You can see this in the chart below, which shows average Arctic sea ice for various indicators over the satellite data record. The January-to-August average is the black line.

The downward trends for September (thick red line) and the summer minimum (thin red line) are quite erratic from one year to the next. In contrast, the trend for March (blue line) shows a smoother decline because the influence of the weather on Arctic sea ice during winter is smaller.

This highlights the need to not over-emphasise the ice extent on a particular day or in a particular month, notes Hawkins:

“Instead, the focus should be on the bigger picture: Arctic sea ice is melting and will continue to do so whilst global temperatures continue to rise.”

Ice elsewhere

At the opposite end of the planet, Antarctica is heading to its maximum yearly sea ice extent, which normally occurs in September or early October. This year’s maximum ice cover is also likely to be among the eight lowest on record.

The map below shows the Antarctic sea ice extent from June to 17 September 2017 (blue line), along with daily ice extent data for four previous years. Years shown include 2016 (green), 2015 (orange), 2014 (dashed brown), and 2013 (purple).

Antarctic sea ice also hit a record low earlier this year.

And elsewhere in the Arctic, the annual melt season for the Greenland ice sheet also recently came to a close. Carbon Brief has a guest post from scientist the Danish Meteorological Institute on how the ice sheet has fared over the past 12 months.

Output: The summer minimum extent of Arctic sea ice for 2017 is the eighth lowest in satellite records dating from 1978, according to figures from the US National Snow and Ice Data Centre (NSIDC). On 13 September, the smallest extent of ice for the year was measured at 4.64m sq km, or 1.58m sq km below the 1981-2010 average. The record low, of 3.39m sq km, occurred in 2012. A scientist from the NSIDC stated that the measurements indicated the downward trend to sea ice falling below 5m sq km, first recorded in 2007, was continuing.


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MIT paper points way for robots to obey human instructions
 A new innovation from MIT helps robots understand and respond to voice commands – putting us one step closer to an Alexa with arms.

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Though the field of robotics is rapidly advancing, in many ways consumer-ready robotic technologies are still far less sophisticated than AI-powered voice assistants like Siri or Alexa.

Robots can be programmed to execute repetitive tasks or movements, but their usefulness typically stops there. Since most robots (even industrial ones) lack language processing abilities, we’re still far out from a future where we regularly interact with robots in ways that resemble human communication, interaction, or responsiveness.

But a team of computer science researchers just pushed us closer to that reality: A new paper out of MIT presents an Alexa-like system that allows robots to understand a wide range of commands that require contextual knowledge about objects and their surroundings.

The researchers’ “ComText” system takes robot learning further than most advances to date – enabling robots to develop the “episodic memory” necessary to reason, infer meaning, and respond to nuanced commands.

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Traditional approaches to robot learning focus mainly on semantic memory, which is based on general facts such as “the sky is blue.”

Training of semantic memory can allow robots to execute basic commands: With literal understanding of distance and direction, for example, a robot may be able to respond to a request to move two feet to the right or left.

Requests involving contextual knowledge demand a cognitive skill set most robots lack, however. Consider a command like “grab my jacket.” Even if a robot knows what a jacket is, the idea of possession – of retrieving your jacket – demands a more nuanced, human level of understanding than the robot has.

“The main contribution is this idea that robots should have different kinds of memory, just like people,” says research scientist Andrei Barbu.

ComText helps close that “semantic gap” by training robots to develop both semantic and episodic memory. Episodic memory is based on experiences in the past that can inform decisions made in the future.

Possession is one example: A robot with episodic memory that is told, for example, “this jacket is mine,” can retain that information and use it when responding to later commands even in langague constructions that do not follow the same structure as how they were initiatally taught about possession of the jacket.

The new Alexa-like solution makes that kind of cognition possible. Developed by researchers in MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), ComText enables robots to understand the world as a collection of objects, people, and abstract concepts (such as position and possession).

Named for “commands in context,” ComText debuted in a research paper developed by MIT researchers Rohan Paul, Andrei Barbu, Sue Felshin, Boris Katz, and Nicholas Roy for the 26th International Joint Conference on Artificial Intelligence.

The research work helps robots “ground” (aka understand and interpret) natural language instructions. It creates a learning model – referred to as Temporal Grounding Graphs – whereby robots continually acquire “higher-order semantic knowledge” about their environments and the objects within them.

A robot equipped with the ComText system learns as it goes: As commands and responses are exchanged between humans and the robot, the robot retains more and more experiential knowledge – as well as more visual and linguistic context – based on the past commands.

“For robots to understand what we want them to do, they need a much richer representation of what we do and say,” says Paul.

In a video released by the MIT media team, we see Baxter (a two-armed humanoid robot) understanding various items described as “my snack,” and responding to commands to “pick it up” or “pack up my snack.” With ComText, Baxter was successful in executing the right command about 90% of the time.

That kind of cognition may seem simple, but it gets us one step closer toward a world where a robot packs your snacks (or grabs your jacket). As the technology develops further, the ability for a robot to gain greater understanding of placement and possession could mean a robot can help you find your keys, since it could remember where you left them.

That kind of understanding is the researchers’ next step. In the future, the MIT team hopes to enable robots to understand more complicated information – such as multi-step commands, or the intentions behind actions.

If they succeed, the ability to interface with robots more like humans could go well beyond a helpful AlexaBot around the house: In industrial settings, for example, robots will prove far more useful to people if they understand normal voice commands. With ComText, simple instructions like “Go get the last box I put down” could be done by a robot (instead of taking up a person’s time).

The project for “Temporal Grounding Graphs for Language Understanding with Accrued Visual-Linguistic Context” was co-led by research scientist Andrei Barbu, alongside research scientist Sue Felshin, senior research scientist Boris Katz, and Professor Nicholas Roy. They presented the paper at last week’s International Joint Conference on Artificial Intelligence (IJCAI) in Australia. Full information is available here.

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Output: A team from MIT has published a paper outlining a learning model that allows robots to interpret information about their surroundings and understand spoken instructions. The system, called ComText, was run on a Baxter robot, a machine with two arms that can be used to grab, lift and move objects. ComText allowed the robot to gain experiential knowledge, as well as visual and linguistic context, based on past interactions. During tests, the robot was able to correctly understand and execute commands with 90% accuracy.


Instruction: create a high quality summary of the given input

Input:
XL Group moves European base to Dublin
 Insurance Ireland says the XL Group’s decision validates the country’s position as an international insurance hub

The XL Group has announced plans to move its main European insurance company from the UK to Dublin as a "response to Brexit".

Chief executive Mike McGavick said the decision would help it “provide certainty and consistency” to customers in the aftermath of last year’s referendum vote.

While the move will require regulatory approval, the plans follow a meeting between Taoiseach Leo Varadkar and Mr McGavick in Dublin on Tuesday.

"At a time many countries have lost their confidence and are unsure about their place in the world, Ireland's firm commitment to being at the heart of Europe, in the euro and being globally engaged, with an open economy and commitment to free trade makes us an excellent place to invest," Mr Varadkar said in a statement.

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“ I look forward to more announcements in the weeks and months ahead.”

Dublin had been home to XL between 2010 and 2016, before its new holding company, XL Group Ltd, was formed in Bermuda following the acquisition of the Catlin Group.

Insurance Ireland said the decision validated the country's position as an international insurance hub.

XL Insurance Company is a wholly-owned subsidiary within the XL Group, providing the main insurance company platform within Europe and Asia.

XL opened its first European insurance company in the International Financial Services Centre (IFSC) in the 1990s, and in 2006 established XL Re Europe which remains an Irish-domiciled reinsurer.

The company operates through an international network of branches, subsidiaries and third-party fronting partners.

Branch network

“Re-domesticating XL Insurance Company SE to Ireland will allow XL Group’s clients and brokers to benefit from continuity of service through its branch network in Europe, which enables it to write business in domestic markets as well as providing the infrastructure for its Global Programs business,” it said in a statement.

In the UK the group will retain Catlin Insurance Company, a UK-regulated insurance company, and its Lloyd's operations.

In making its announcement the company referenced potential disruption to its business by a loss of passporting rights when the UK leaves the EU.

“Since the referendum announcement we have been clear that our top priority is to provide certainty and consistency of service to our clients and brokers. Moving XL Insurance Company SE to Ireland means we deliver on that commitment,” Mr McGavick said.

“Dublin is a natural home for us in Europe. We have a long and established presence in Ireland, and we understand and respect the high-quality business environment, the regulatory environment and the talent of the people here.”

Reinsurance hub

XL Group is a global insurance and reinsurance company providing property, casualty and speciality products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.

Welcoming the announcement, Insurance Ireland, the representative body for the domestic and international sector, said it validated Ireland’s position as an international insurance and reinsurance hub, particularly in the context of Brexit.

“While we are all aware of the negatives that are presented to the Irish economy by the Brexit decision, we must welcome the opportunities such as the decision taken today by XL Catlin,” chief executive Kevin Thompson said. “Ireland must maintain an open and responsive approach in order to maximise the opportunity over the short term.”

The sentiments were echoed by the IDA whose chief executive Martin Shanahan said it had been encouraging to see “so many high profile banks and insurance firms” endorse Ireland as their destination of choice.

“Post Brexit, nurturing talent, delivering a pro-business ethos and maintaining a consistent track record, must be the priorities if we are to continue to grow the economy at the current rate and remain competitive,” he said.

Output: Global insurance and reinsurance firm XL Group has announced it will relocate its main European insurance company from London to Dublin in response to Brexit. The move follows a meeting between between Irish Taoiseach Leo Varadkar and XL Group CEO Mike McGavick. In a statement, McGavick said: "Since the referendum announcement we have been clear that our top priority is to provide certainty and consistency of service to our clients and brokers. Moving XL Insurance Company SE to Ireland means we deliver on that commitment."


Instruction: create a high quality summary of the given input

Input:
Cable to position Lib Dems against hard Brexit
 Liberal Democrat leader Sir Vince Cable has called on "political grown-ups" from all parties to stop Brexit.

Sir Vince used his first keynote address to the Lib Dem conference as leader to position his party firmly as an anti-Brexit voice.

He called for a new referendum once the terms of Britain's divorce from the European Union are clear.

"At the end of these tortuous divorce negotiations, the British public must be given a vote on the outcome," Sir Vince told delegates in Bournemouth.

"Let me be clear about this. This is not a call for a re-run. This is not a call for a second referendum on Brexit. This is a call for a first referendum on the facts."

Please use Chrome browser for a more accessible video player 0:30 Vince Cable 'has stamina' to be PM

Sir Vince called on moderates from the Labour and Conservative parties to "put aside tribal differences" and join forces.

"What the country now desperately needs is some political adults. There are sensible grown-ups in the Conservative Party, and the Labour Party and the Greens," he said.

"That's you. That's us."

Sir Vince urged Labour leader Jeremy Corbyn to "refurbish his revolutionary credentials" and join the Lib Dems in the "Anti-Brexit People's Liberation Front".

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The former business secretary took over in July after a disappointing result at the General Election, where the party campaigned on an anti-Brexit platform but failed to capitalise on disappointed Remain voters.

Please use Chrome browser for a more accessible video player 9:16 Cable: Age is no barrier for me

Sir Vince leads a group of just 12 MPs, but insists he is a "plausible" candidate for prime minister.

At 74, he is the oldest ever Lib Dem leader and the oldest head of a major party since Sir Winston Churchill, who stepped down as Tory leader aged 80.

But Sir Vince has already dismissed suggestions his age might be a problem, saying he has the energy to lead the party.

In his speech, he sought to show that there was more to his party than the anti-Brexit message. He called for wealth taxes and urged a crackdown on property speculators to ease housing problems.

The party is not just a "UKIP in reverse", Sir Vince said.

Output: Vince Cable has positioned the Liberal Democrats as the country's anti-Brexit voice during his first keynote address as leader of the UK political party, during its annual conference. Under Cable, the party will continue to pursue a strategy of opposing the implementation of Brexit. He also called for a second referendum following the negotiations with the European Union, saying: "This is not a call for a re-run. This is not a call for a second referendum on Brexit. This is a call for a first referendum on the facts." The former business secretary, who took over leadership of the party following the summer's dismal General Election results, leads just 12 MPs in parliament.


Instruction: create a high quality summary of the given input

Input:
Johnson could resign over Brexit strategy dispute with PM
 Boris Johnson could resign if Theresa May signals she will pursue a “Swiss-style” Brexit, even though he is publicly denying he will walk away from the cabinet.

The foreign secretary told reporters in New York he would not resign and denied the cabinet was split over Brexit policy, insisting: “We are a nest of singing birds.”

But it is understood that Johnson considers it could be a resigning matter if May veers towards the kind of “soft Brexit” advocated by Philip Hammond, the chancellor, when she makes a key speech in Florence on Friday.

The Telegraph reported on Tuesday that the foreign secretary could even quit the cabinet before the weekend if May signals that she will sign up the UK to paying for access to the single market permanently in an arrangement similar to staying in the European Economic Area (EEA).

This option similar to the arrangements adopted by Switzerland is known by its critics as the “EEA-lite”, but would be a way of preserving the benefits of the single market.

Friends of Johnson told the newspaper he “could not live with” the version of Brexit under consideration, which prompted the publication of his personal blueprint for Brexit in the Telegraph at the weekend.

The foreign secretary – who appears to have the backing of other pro-leave ministers, including Michael Gove – was unhappy about some of the wording in early drafts of the speech.

He was concerned the prime minister was preparing to send a public signal that she would like to see a close long-term relationship with the rest of the EU along the lines of Norway, or Switzerland – with more leeway over freedom of movement.

Johnson and others fear that would limit the UK’s ability to do deals with other countries; and require the UK to mirror EU regulations too closely. Saturday’s controversial Daily Telegraph article was aimed at sending a signal he could not support such a relationship.

00:43 Ken Clarke: 'Johnson would be sacked by now, normally' – video

One source close to Johnson said the Telegraph’s claims that a resignation could be imminent were nonsense and “totally made-up”. However, his article was widely regarded as a warning shot to the prime minister as she prepares to deliver her major Brexit speech on Friday.

Johnson was piqued that a meeting of other senior ministers involved in Brexit was held last week when he was inspecting hurricane damage in the Caribbean.

May is also in New York, attending the UN general assembly. Asked whether she still backed the foreign secretary, she told Sky: “Boris Johnson has been here at the United Nations doing important work yesterday in a meeting on Burma.

“I will be seeing Boris at various stages during our time here, but of course we have got very busy programmes.”

May will convene a special meeting of her cabinet on Thursday, to consult colleagues about her speech. A Number 10 source said: “The PM has said consistently that she values the contribution of people from across the cabinet, and clearly this is a significant moment in terms of our progress, and in terms of our relationship with Europe.”

May’s spokesman also underlined the fact that May plans to use the speech to discuss not just transitional arrangements, but Britain’s ongoing partnership with the rest of the EU. “She will talk about the future relationship going forward, as well as the progress on the talks so far,” he said.

Asked if she was confident of getting consensus on her Brexit strategy at Thursday’s meeting, May said: “Yes, the cabinet is absolutely clear about the destination we are aiming for in relation to our European negotiations.

“We want to make sure we get the best possible deal for the United Kingdom as we leave the European Union. What we want to do is to ensure not just a good deal on trade, but also on our future security and relationship on law enforcement and criminal justice.”

Asked what she wanted Johnson to do, in the light of reports he may resign, May said: “What I want the government to do is what the government is doing, Boris and others, all very clear about the destination we have as a country and that is getting that deep and special relationship with the EU when we leave, but a partnership that still leaves us as the UK free to make trade deals around the world. and free to take control of our laws, our borders and our money.”

Asked if she had “got her mojo back”, May said: “I’m doing what I always do, which is getting on with the job and, you know what, I think that’s what the British people expect their prime minister to do.”

Speculation about the foreign secretary’s future has been rife since the article was published, as some senior Conservatives believe he should have been sacked for departing from collective responsibility. Ken Clarke, the former chancellor, said he would undoubtedly have been dismissed if May was not in such a weak position.

“Sounding off personally in this way is totally unhelpful and he shouldn’t exploit the fact that [Theresa May] hasn’t got a majority in parliament,” Clarke said on Tuesday. “And he knows perfectly well that, normally, a foreign secretary would be sacked instantly for doing that.”

However, May could leave herself vulnerable to a leadership challenge if she sacked Johnson, whose intervention won the backing of hardline eurosceptics and former Vote Leave supporters.

Output: UK foreign secretary Boris Johnson could quit the cabinet if Prime Minister Theresa May pursues a soft Brexit, according to friends of the politician, who outlined his vision of Brexit in a controversial article for the Telegraph. Johnson voiced his objections to a "Swiss-style" deal with the European Union, in which the UK would pay for access to the single market, and said it could limit the country's ability to make trade deals elsewhere. Johnson has denied he will step down, while May said he was "clear about the destination we have as a country." If Johnson were to resign, a leadership election in the Conservative Party could soon follow.


Instruction: create a high quality summary of the given input

Input:
Call9 raises $24M to replace seniors' ER visits with virtual visits
 Brooklyn-based Call9 has raised $24 million in a new round of funding. Redmile led the round, with additional investments from Index Ventures, Refactor, YCombinator, Western Technology Investments, and other undisclosed investors.

This is the second round of funding for the company, which raised $10 million in January 2016. The new funding will be used to scale Call9’s operations.

Call9's video visits service connects nursing home patients to an emergency room doctor. The company sets up the system in nursing home facilities and provides them with the mobile devices preloaded with their software. When a resident has a concern, the facility's nurse brings the tablet to them to make a call to a doctor on Call9’s system.

The company was predicated on the idea that nursing home residents are some of the most frequent emergency room visitors, but those patients are among the least well equipped for a stressful emergency room visit.

“Our most vulnerable patients experience hardships related to real-time access to care they urgently need and get shuffled across disparate care ecosystems and emergency settings, unnecessarily,” Dr. Timothy Peck, Call9’s founder, said in a statement. “The system was ripe for disruption and so we re-invented the 911 experience for nursing homes, improving care for this elderly patient population, while dramatically lowering costs.”

The company also prides itself on combining high tech with high touch, as the hands on work of the telemedicine doctor is performed by onsite care specialists trained by Call9.

“Many new healthcare companies are applying technology to aggressively streamline care, but at the same time, they’re removing the human touch required for personalized medicine, making the shift from fee-for-service to value-based care virtually impossible,” Peck said. “Our motto as a company has always been ‘do right by the patient and all else will fall into place.’ This is only possible through new collaboration paradigms that couple technology and data with trusted care specialists who are on site and available to hold their patient’s hands.”

Call9 has seen significant cost savings from its efforts, with a Precision Health Economics study showing that the intervention prevented a hospital visit 80 percent of the time, saving the average 200-bed nursing facility $8 million per year, according to the company.

Output: Emergency room visits remain one of the significant hardships of senior care. Older patients are often the least prepared for the stress and exhaustion of a visit to the emergency room. To tackle these issues, New York-based telehealth startup Call9 offers a virtual health service that connects nursing home patients to its own, trained emergency room doctors by providing nursing homes with mobile devices equipped with preloaded software. As well as an improved doctor experience, Call9 offers a significant cost reduction, with a study by Precision Health Economics demonstrating an annual average reduction of $8 million per year for a nursing home, whilst also preventing a hospital visit 80 percent of the time. Call9 has recently raised $24 million and intends to scale its service following the added investment.


Instruction: create a high quality summary of the given input

Input:
Auto-insurtech firm The Zebra raises $40m in financing
 The Zebra, an auto insurance comparison marketplace, has raised $40 million in Series B funding led by Accel Partners. Simultaneously, the Zebra introduced Keith Melnick, former president of travel metasearch engine KAYAK as Chief Executive Officer, joining the company as it expands to reach new users and markets.

KAYAK of Insurance

“From day one we set out to make insurance ‘black and white,’ and our team is making a huge impact in driving this industry forward,” commented founder and Chairman Adam Lyons. “There is no shortage of interest in the insurance space right now, and we felt Accel was the right partner and aligned with our vision of creating something big. When we met Keith, we knew instantly that we found the talent to help take this company to new heights.”

Melnick believes insurance is where travel was ten years ago and it is need of improvement. His company seeks to provide a consumer friendly, easy to use, comparison site to drive competition and improve options for individuals searching for insurance.

“It sounds simple, but it definitely is not, and it can revolutionize the industry. The Zebra gets that, I get that, and we share a vision and a plan to get it done,” said Melnick.

The Zebra’s Series B round is said to be one of Accel’s first investments in Insurtech in the U.S., as well as its largest investment in tech hub Austin, Texas. Accel Partners has backed other well known consumer brands including Facebook, Dropbox, Spotify, Venmo, and KAYAK.

John Locke, Partner with Accel, believes there is a huge opportunity to provide a comparison shopping environment just like KAYAK did for travel.

“The Zebra team has the product-first DNA and momentum to pull this off, and we’re thrilled to partner with Keith Melnick – who we worked with on KAYAK for over a decade – and the whole The Zebra team to help make this vision a reality.”

The Zebra’s Series B brings total funding to $61.5 million. Additional investors include Silverton Partners, Floodgate, Ballast Point Ventures, Mark Cuban, Daher Capital, and Birchmere Labs.The company reports it has grown revenue more than 80% year over year and has established itself as a leader in the growing insurtech space. The Zebra claims to be the most visited car insurance comparison site in the U.S., providing millions of insurance quotes every month. It searches more than 200 auto insurance companies in seconds to give consumers the choice and simplicity they need to find the right coverage at the right price.

The Zebra said it would be expanding product functionality, adding new lines of insurance, growing both staff and partnerships to expand its reach, and making substantial investments in brand-building with the additional funding.

Output: US-based motor-insurance-focused insurtech firm The Zebra has raised $40m in its latest funding round, which was led by Palo Alto-based Accel Partners. The Zebra aims to provide a comparison service to consumers seeking auto insurance. It plans to use the funds to recruit more staff and add new lines of insurance. The company is also planning improvements to the functionality of its existing service.


Instruction: create a high quality summary of the given input

Input:
London lobbyist Terrapin behind $4.1bn of Lendlease deals: Vice
 Peter Bingle is one of London's most prolific lobbyists. He spends his days schmoozing local councillors in the capital's finest restaurants in a bid to get his clients picked for big deals, picking up enough tabs for him to tweet that he's "trying to end austerity singlehandedly".

In the last four years, Mr Bingle has arranged at least 25 private meetings with councillors from Haringey, Kensington, Wandsworth and Southwark. All these councils were on the cusp of awarding huge development contracts, including for the demolition and regeneration of thousands of Londoners' homes. The councillors often didn't declare any other meetings with any other developers, or anyone else except Bingle. In total, the meetings precede nearly £3 billion of contracts, all of which went to one developer: Lendlease.

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Mr Bingle has been employed by Lendlease (although, mysteriously, any mention of them has slipped from his website), a huge Australian development corporation which has been involved in many gentrifying projects over recent years.

It is Lendlease that building around 3,000 new homes on the former Heygate Estate, only 25 percent of them "affordable" – costing over £400,000 for a one bed flat – after the council initially promised residents "100 percent reprovision" of the 1,000 council homes. Lendlease will build 82 socially rented homes at some point during the controversial redevelopment. As VICE revealed, a large number of the remaining units were flogged to offshore foreign investors off-plan two years before they were offered to UK buyers.

Bingle's company is called Terrapin Communications. His head pops up often in recent coverage of the Haringey Development Vehicle – the biggest suburban redevelopment in history, a 50:50 partnership between the Labour-led borough of Haringey and the developer Lendlease. This will threaten 4,468 homes (around 3,500 of them on council estates), including sites like Broadwater Farm, Stella House and Northumberland Park Estate. All those homes and lives potentially changed forever, and a £2 billion collected pot to be meted out – a mix of public and private money, as well as the transfer of public assets into a fund.

WATCH: What It Costs to Live in London

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From the moment Haringey announced it was knocking down half of its borough, Bingle was arranging meetings between local councillors and his client, Lendlease. Before long, Haringey councillors were coming under fire from local paper the Ham and High for dining out with Terrapin Communications 13 times, enjoying hospitality worth £770.

Amazingly, Bingle also employed Haringey council's chief whip – the guy who pressures councillors to vote on big issues, i.e. housing – Adam Jogee as a "consultant" for his firm Terrapin Comms. Bingle even calls supposedly neutral Jogee his "baby terrapin" publicly on social media. When Jogee came under scrutiny for this, he wrote a letter to his Labour comrades, chastising them for bringing it up and causing "media scrutiny and a great deal of public attention".

Just as well, then, that when faced with allegations of favouritism, Haringey council appointed an independent legal advisor to oversee everything. Pinsent Masons were paid £499,999 by the council to be the legal adjudicator for the bid – the most "economically advantageous bid", according to the council. But far from being independent, Pinsent Masons have acted as legal representatives for Lendlease since 2005. Completing the circle, Pinsent Masons were also one of Terrapin Communications' first ever clients.

In September of 2014, Alan Strickland – Haringey's cabinet member for Housing Regeneration and Planning – took Lendlease's "Head of Residential" Richard Cook on a "tour of Tottenham" to show him what was up for grabs. None of the 11 other bidders for the HDV contract had this privilege. Why all the favours? Why the obsession with working with a company that previously broke their promises on social housing, letting down a London borough?

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At the end of all the developer jostling, Lendlease – who, VICE are told, were only the third highest value bidder in the process – won out. You'd be forgiven for thinking that Lendlease are acting as referee, linesman and both managers of a match that resulted in them winning a £2 billion contract that redesigns Haringey forever.

WATCH: The War to Live in London – Regeneration Game

Lendlease split their profits across more than 300 separate global companies worldwide), including 65 in the UK.

Many, like "Lendlease Elephant and Castle", make surprisingly little taxable profit. This company returned a worrying £914 profit in 2014, but did make a whole £1 more in 2015. Southwark Council is entitled to half this meagre return, having signed a 50/50 profits split with Lendlease for the Elephant and Castle site it sold.

By 2016, Southwark had clawed back around £12 million from the deal, including a £6 million one-off payment from Lendlease for not building the social homes they promised. That year, Lendlease Corporation – a separate Lendlease company – still returned a £214 million profit globally, citing "strong sales in Elephant and Castle".

Haringey, whose redevelopment plans remain opaque, say their 50:50 power share is supposed to stop Lendlease wriggling out of any affordable housing promises and ensure they do all repairs on all commercial buildings in the area. After a similar deal with New York City, Lendlease was fined over £40 million for overcharging for repairs, a scam that had been running for decades.

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Like the residents of Haringey, when I put questions to councillors I was met with zero response. I did, however, have a call completely out of the blue from Lendlease asking me what my concerns were. At this point, I hadn't yet contacted Lendlease. Haringey then admitted they are passing phone calls to Lendlease for them to answer, including calls about their relationship. Lendlease didn't deny that Pinsent Masons regularly worked for them.

Peter Bingle didn't respond to questions either. Mysteriously, Lendlease and another firm – Starwood Capital, which also bid in the HDV process – have vanished from Bingle's company's website after its links to the HDV came under the spotlight.

Peter Bingle (right) in simpler times, as director of the "Hands Off Reading" campaign. Here, Peter and his friend "Vatman" are delivering a letter to the Treasury explaining the arguments against the imposition of VAT on the printed word. (Jim James/PA Archive/PA Images)

Bingle also arranged seven Terrapin meetings with Kensington councillor Rock Fielding-Mellen, the former Kensington housing chief who oversaw the disastrous Grenfell cladding contract. After the disaster at Grenfell Tower, in which at least 80 people lost their lives, Bingle tweeted that Kensington council is actually "the most paternalist [sic] and caring borough in London".

After each of Bingle's meetings with Fielding-Mellen, Kensington awarded three huge contracts to Lendlease – two of them worth £35 million and £9.1million, one undisclosed. The examples go on and on. Bingle, for instance, met John Cook, Deputy Leader of Wandsworth council, in February of 2016 before a £45 million deal was announced for Lendlease at the Cambium site in Southfields, South-West London, with no affordable housing.

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Mr Bingle also had seven meetings with Southwark's Peter John while Lendlease was busy finalising its £1.5 billion redevelopment on West Grove, where there isn't a single affordable home available or a unit sold under £500,000. Southwark Council then spent £56,000 of taxpayers' money trying to block a legal challenge from residents hoping to discover why Lendlease had failed to deliver all the social homes they promised at Heygate.

John, who averages about 30 declared hospitality meetings per year, called the net loss of 1,800 social homes "a good deal", and it was certainly a good deal for many within Southwark council, with a "well oiled revolving door" ensuring Lendlease have been able to count a number of previous Southwark Council employees among their staff.

Terrapin didn't want to leave anything to chance in the run-up to the £2 billion Haringey deal. They made sure Haringey's officials knew how lucrative it was to work for Lendlease. The agency hosted a double date for Southwark's Peter John and Haringey's Alan Strickland in July of 2015, just seven months before the HDV bidding began. Terrapin Communications then hosted another dinner, this time inviting only Haringey's Strickland (Labour) and Kensington's Fielding-Mellen (Conservative) so they could talk Lendlease, in March of 2016, at Cannes' MIPIM, a large property trade show. By then, Haringey was one month into the tender process for the HDV.

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Strickland declared no other meetings with councillors or Haringey bidders over the following seven-month tendering process, only proven Lendlease fan-boys John and Fielding-Mellen, all on the tab of Lendlease's PR, Terrapin Communications. Lo and behold, Lendlease was duly announced as the winner.

VICE approached Bingle and Pinsent Masons but received no response. After talking to us about their relationship with Pinsent Masons, Lendlease didn't respond to further questions [Lendlease contected VICE following publication – see update below]. Haringey's Alan Strickland didn't respond when asked by VICE for a comment. He has previously said in a letter to the Guardian that "Terrapin isn't involved in any way in the proposed Lendlease joint venture."

If that's so, they've spent a lot of time in meetings, not talking about Bingle's client who would go on to win a £2 billion contract. And a scan around London suggests he's not the only councillor who's been having innocent conversations about the weather, courtesy of Terrapin Communications.

Update – 22 September 2017

Lendlease and Haringey contacted us following publication of this article and we have made the following corrections and clarifications:

Peter Bingle has been employed by Lendlease but is not currently working for them as we previously stated.

We previously stated that no other developers were taken on the tour of Tottenham. We're happy to clarify that no other bidders for the HDV contract were on the tour.

We've clarified how promises made to residents about social housing were broken, and Lendlease's current commitment to delivering 25 percent "affordable" housing.

Previously we stated that Lendlease were the third highest bidder in the process. Lendlease have told us that it had the highest accumulative score of any bidder in the public OJEU procurement process, and was selected as the preferred partner on that basis.

Output: Terrapin Communications has helped win nearly £3bn ($4.1bn) of contracts for Australian developer Lendlease, according a Vice News article that focuses on the lobbying company's role in securing development contracts across London. Author Andy Jones writes that the Lendlease contracts had been awarded after meetings between Terrapin chief Peter Bingle and senior officials within tendering boroughs. Also, the report said Bingle has hired key decision-making professionals  from within tendering boroughs and orchestrated preferential meetings with council chiefs. Some councillors he wined and dined declared no meetings with other bidders in contracts that Lendlease eventually won, Vice reports. The author points out that Lendlease has consistently failed to provide expected amounts of social and affordable housing in previous developments.


Instruction: create a high quality summary of the given input

Input:
Wealthsimple eyes UK with robo-advice service
 It looks like you have reached this page in error ...

The content you are looking for has either moved, or if you typed in the address there might have been a mistake.

If you believe there has been a technical error – please let us know.

Most Popular Destinations

Output: Canadian robo-adviser Wealthsimple is expanding into the UK following a trial period of the firm's platform. The robo-adviser has $1bn in assets under management across 40,000 North American clients.


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Input:
Australia ends double tax on bitcoin transactions
 The Australian government has delivered on its longstanding promise to remove the double taxation of transactions involving cryptocurrencies like bitcoin. For years, digital currency adopters ...

The Australian government has delivered on its longstanding promise to remove the double taxation of transactions involving cryptocurrencies like bitcoin.

For years, digital currency adopters in Australia were taxed twice for transactions, once for the goods and services tax (GST) on the product and again for the GST levied on the digital currency used for the payment.

“If you pay $4 in bitcoin for a coffee, you will pay 40c GST for the coffee, and 40c again for the bitcoin you used to pay for the coffee,” explained Daniel Alexiuc, CEO of Australian bitcoin startup Living Room of Satoshi, speaking to CCN.com in 2016.

At the time, the Australian government confirmed it was “committed” to removing the double taxation of digital currencies, in March 2016. A year later, bitcoin was still seen as “intangible” property by the Australian Tax Office with no changes in legislation to put an end to the double taxation. The delay was criticized by Australia’s FinTech community as an “outdated” approach to the taxation of digital currencies by the government. “It’s one of the original priorities we put in the reform paper and one they said yes to,” revealed Danielle Szetho, CEO of the industry lobby group and collective FinTech Australia in April this year. “But here we are, 14 months on and still nothing.”

The following month, digital currencies finally gained that tax cut in this year’s federal budget, as a part of Australia’s wider FinTech-friendly agenda.

Now, the Australian government has – at last – introduced a bill to push the necessary legislation to remove the double taxation of digital currencies. A move described by Australia’s treasurer Scott Morrison as an “action that will further cement Australia’s reputation as a global FinTech center”.

In a statement, Morrison wrote:

The Bill will ensure that Australians are no longer charged GST on purchases of digital currency, allowing it to be treated the same way as physical money for GST purposes. The law change will retrospectively apply from 1 July 2017, in line with the 2017 Budget announcement.

As such, the bill would need to go through parliament for approval before being mandated as national law. The government’s announcement reveals no details as to when the bill will be brought up to go through the due process. Nonetheless, the local bitcoin industry and the wider digital currency ecosystem is certain to get a boost as digital currency transactions become cheaper and gain parity with fiat money transactions.

Featured image from Shutterstock.

Output: The Australian government has introduced a bill to put an end to the double taxation of transactions involving bitcoin. Adopters of digital currencies in Australia have for years been charged for the goods and services tax on both the product and the digital currency itself. The move still requires parliamentary approval, though the local bitcoin and wider cryptocurrency industry is likely to receive a boost as transactions become cheaper.


Instruction: create a high quality summary of the given input

Input:
Non-profit firm Poseidon to create 'carbon currency'
 Join our growing army of changemakers and get unlimited access to our premium content

The venture, set to be formally launched by non-profit Poseidon in January 2018, will create a carbon value for everyday products, bringing carbon pricing into the mainstream by allowing customers to participate through every-day micro-transactions.

It will be made possible through the adoption of blockchain – an open source digital ledger that facilitates secure online dealings. The blockchain technology, provided by online platform Stella.org, will provide consistency across jurisdictions and prevent the double counting of carbon, Poseidon claims.

Speaking during New York Climate Week, Poseidon founder Laszlo Giricz said: “There is significant scope for companies to capitalise on the increasing demands of their consumers, investors, and employees to demonstrate sustainability, responsible supply chains, and positive environmental action.

“As momentum builds, Poseidon’s blockchain technology presents an opportunity for early involvement in a transparent, accountable carbon market that can provide both financial and ecological returns, offering a host of benefits to natural ecosystems, and the habitats and livelihoods they support.”

Poseidon aims to enable consumers to purchase ‘climate-positive’ products through smart contracts and a custom token on the Stellar blockchain. The digital ecosystem will also facilitate the transparent measuring and trade of emissions.

A fundraiser will be launched the start of next year before Poseidon begins to source carbon credits through Ecosphere, a venture which finances a range of environmental assets worldwide, including in vulnerable ecological zones such as Brazil, Guatemala and Peru.

Poseidon will then create a mobile app which enables businesses to view the impact their carbon positive purchases are having on the ground.

Chain reaction

Blockchain is viewed as one of the ‘essential eight’ emerging technologies by PwC that will play a crucial role in tackling issues around climate and biodiversity. The technology could facilitate peer-to-peer energy sharing and trading on digital platforms, a market which is reportedly set for take-off.

A host of major firms including Nestlé, Unilever and Walmart recently established a collaboration with tech giant IBM to explore how the global food supply chain can benefit from blockchain technology. The joint programme could enable all participants in the supply chain, including growers, suppliers, retailers and consumers, to quickly trace a contaminated product to its source and stem the spread of illnesses.

George Ogleby

Output: Non-profit organisation Poseidon has unveiled a project aimed at creating a "carbon currency" using blockchain technology. The digital currency will allow businesses to measure the carbon footprint of every transaction by establishing a universal carbon value for everyday goods across all markets and jurisdictions. The currency gives consumers, investors and employees the ability to demonstrate sustainable practices across supply chains. The project will be hosted on the Stella blockchain, with a fundraising round planned for early 2018.


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Input:
Number of zero-hours contracts falls to three-year low in UK
 3. How many no guaranteed hours contracts (NGHCs) are there?

This section looks at the latest estimates from the Labour Force Survey (LFS) for the period April to June 2017 and the business survey for May 2017. Estimates from surveys are, due to sampling error, subject to a degree of uncertainty. Where available, an indication of the level of uncertainty is provided in Annex 1.

Labour Force Survey

The LFS samples around 40,000 households a quarter and collects information about people’s employment status. One of the questions on the LFS, asked of people in employment, relates to special working arrangements that vary daily or weekly. Respondents can choose up to three different arrangements from a list of eight options, one of which is “zero-hours contracts” defined as “where a person is not contracted to work a set number of hours, and is only paid for the number of hours that they actually work”.

As the LFS is based on respondents’ views about their working arrangements and counts people rather than contracts, it is likely that any estimate of “zero-hours contracts” from the LFS will be less than an estimate obtained from businesses. The number of people the LFS classes as being on a “zero-hours contract” will be those who:

are employed (have done at least 1 hour of paid work in the week before they were interviewed or reported that they were temporarily away from their job)

report that their working arrangements in their main employment include some form of flexibility

recognise that the flexibility of their working arrangements is a result of being on a “zero-hours contract”

Therefore, the people identified by the LFS as being on a “zero-hours contract” will be those in employment who are aware that their contract allows for them to be offered no hours. This might exclude some people who select another option, such as on-call working, although they have the opportunity to report a “zero-hours contract” as well.

The latest estimate from the LFS shows that 883,000 people reported that they were on a “zero-hours contract” in the period April to June 2017, representing 2.8% of people in employment. This is 2.2% lower than the reported figure from the same period in 2016 (903,000 or 2.9% of people in employment). This fall in the number of people reporting to the LFS that they were on a “zero-hours contract” breaks the upward trend that was observed since 2011. The upward trend that we saw between 2011 and 2016 was likely to have been affected by greater awareness and recognition of the term “zero-hours contract”. Figure 1 shows the number of people in employment on a “zero-hours contract” from 2000 to 2017. Comparisons with 2012 and earlier years are complicated by a large increase between 2012 and 2013 that appeared to be due mainly to increased recognition of “zero-hours contracts”. This change was covered in a previous ONS report published on 30 April 2014.

Figure 1: Number (thousands) of people in employment reporting they are on a zero hours contract, 2000 to 2017 Source: Office for National Statistics Notes: The number of people who are shown as on a zero hours contract at any point in time will be affected by whether people know they are on a zero hours contract and will be affected by how they are aware of the concept. Estimates presented in Figure 1 are non-seasonally adjusted so comparisons of change should be made based on the same period each year. Additionally estimates from surveys are subject to a degree of uncertainty. Download this chart Figure 1: Number (thousands) of people in employment reporting they are on a zero hours contract, 2000 to 2017 Image .csv .xls

When looking at the length of time in current job, the fall in “zero-hours contracts” on the year is driven by a fall in the number of people being in their job for less than 5 years. The fall in the three categories (less than 12 months, 1 year but less than 2 and 2 years but less than 5) comprising people in employment in their job for less than 5 years is only partially offset by increases on the year in the number of people who were in their job over 5 years (5 years but less than 10 years and 10 years or more) (Figure 2).

Output: The number of people in the UK on zero-hours contracts has fallen to its lowest in over three years, according to the Office for National Statistics (ONS). In May, there were an estimated 1.4 million such contracts, down from 1.7 million in the same month the previous year. The figure was the lowest since January 2014. However, despite this fall, the percentage of zero-hours contracts among all employment agreements remains unchanged at 5%. ONS data for the three months to June shows 883,000 people on zero-hours contracts, down from 903,000 for the same period in 2016.


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Number of zero-hours contracts falls to three-year low in UK
 The number of people on zero-hours contracts in the UK has fallen to its lowest level in more than three years, as companies appear to be moving away from employing staff without guaranteed working hours.

There were an estimated 1.4m contracts that did not guarantee a minimum number of hours in May, down from 1.7m in the same month a year ago, and the lowest since January 2014, according to figures published by the Office for National Statistics on Tuesday.

While the overall number fell, the percentage of these contracts as a share of all employment agreements remained unchanged at 5%.

David Freeman, a senior labour market statistician at the ONS, said: “It seems possible that the trend towards this type of work has begun to unwind.”

The latest figures show a break in the upward trend for zero-hours contracts, which have drawn the ire of politicians and union leaders. Businesses including Sports Direct have been heavily criticised for using them, while a group of McDonald’s workers in Cambridge and Crayford, south-east London, went on strike over low wages and the use of zero hours contracts.

The Labour party has called for such contracts to be banned. Theresa May’s employment tsar, Matthew Taylor, refused to ban them in his sweeping review of Britain’s labour market published in July, although called for workers on zero hours to be given the right to request a permanent contract.

The ONS found someone on a zero-hours contract works 26 hours a week on average, while more than a quarter want more hours. Most want more hours in their current job, as opposed to seeking extra work with a different employer. By comparison, 7.2% of other people in employment wanted to work more hours.

Large businesses are estimated to be the heaviest users of employment agreements that do not guarantee a minimum number of hours. Administrative support businesses are the heaviest users, followed by accommodation and food services.

Women make up more than half of those saying they have zero-hours contracts, and there are significant numbers of young people and students.

The number of zero-hours contracts is falling, according to ONS data. Photograph: ONS

The latest figures follow ONS data for the three months to June, which found 883,000 people reported that they were on a zero-hours contract, a fall from 903,000 for the same period a year ago. The statistics authority measures data submitted by employees – who are less likely to identify as being on zero hours – and from businesses, where the figures are higher.

Despite the statistics showing falling usage, the shadow business secretary, Rebecca Long-Bailey, said it was still a “national scandal” that 1.4 million people were employed on zero-hours contracts – “stuck in limbo in insecure work, not knowing how much they’ll earn from week to week, unable to budget for basic necessities and unsure if they can even pay the rent.”

Output: The number of people in the UK on zero-hours contracts has fallen to its lowest in over three years, according to the Office for National Statistics (ONS). In May, there were an estimated 1.4 million such contracts, down from 1.7 million in the same month the previous year. The figure was the lowest since January 2014. However, despite this fall, the percentage of zero-hours contracts among all employment agreements remains unchanged at 5%. ONS data for the three months to June shows 883,000 people on zero-hours contracts, down from 903,000 for the same period in 2016.


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Nike uses NFC chips to offer sport content via NBA smart jerseys
 NIKE is celebrating the beginning of its partnership with the NBA by revealing that its new fan jerseys will include an interactive element, designed to bring the sport’s followers closer to its biggest stars. billed as ‘the future of fan apparel’, each of the connected basketball jerseys features a unique NFC chip — the same technology used in metro cards, or for apple pay — built into its jock tag. using NIKEconnect, fans will then be able to access real-time, personalized experiences through their smartphone.

NIKE unveiled its new NBA jerseys for the 2017-18 season at an exclusive event in los angeles where designboom was in attendance. to learn more about the technology, designboom spoke with NIKE innovation’s michael hailey, and took a closer look at some of the uniforms and apparel that will grace the NBA hardwood for the upcoming season.

NIKE unveiled its new NBA jerseys for the 2017-18 season at an exclusive event in los angeles

globally launching on september 29, as soon as the NIKE jerseys go on sale, fans will be able to instantly unlock content via the NIKEconnect app. when the smartphone is tapped on the tag at the bottom of the NBA jersey it recognizes the special NFC chip located under the NIKEconnect logo. wearers are then able to ‘tap in’ around the clock, unlocking a wealth of team and player content such as pre-game arrival footage and highlight packages. game day brings even more access to exclusive offers.

each of the fan jerseys features a unique NFC chip built into its jock tag

based on the jersey’s allegiance, the app navigates the central ‘team’ tab. here, a status bar has either a pre-game countdown to tip-off, an in-game score, or a post-game final score. other information provided includes where and when the team is playing next, as well as stats about the wearer’s player of choice. below, the ‘team’ feed combines performance and off-court highlights, including related recap videos and gifs. fans can ‘tap in’ to this content for greater detail or share externally with friends online.

using a smartphone, fans will be able to access real-time, personalized experiences

in addition, the left side of the experience has an ‘offers’ tab that reveals both game day deals and ‘upcoming rewards’ for future games. offers include exclusively licensed products, NBA 2K18 boosts, tickets to games, and spotify playlists from athletes. meanwhile, the right side of the app has a ‘jersey’ tab, which shows a history of tap-ins and rewards with that particular NIKE NBA connected jersey.

the NIKEconnect app provides access to a wealth of team and player content

designboom (DB): can you start by introducing the NIKE NBA connected jersey?

michael hailey (MH): first off, its way more than a jersey, way more than a uniform. it’s actually your gateway to being connected to your favorite team, your favorite athlete, and the game you love. it lets you engage with your favorite athletes and teams. it rewards you everyday that you connect with the game, and that reward is customized content for you. there are also exclusive experiences that are delivered for you. the jersey is powered by NIKEconnect, a new technology platform that NIKE is building that enables our products to draw fans, who are wearing this jersey, closer to the athletes and the team that they love.

the new jersey is the league’s slimmest yet, while the shorts are more fitted than past silhouettes

DB: how does the technology work?

MH: all our fan jerseys have the NIKEconnect jock tag on them. on this jock tag is the NIKEconnect logo and behind that logo is an NFC (near field communications) tag. it’s the same general technology that you use for apple pay or for metrocards. it’s a very simple technology but we’ve applied it in a very powerful way. each tag has a unique ID. when you wear the jersey and you tap on it with your phone, we know what the team is, what the player is, and we even know the style of the jersey. that allows us to create really customized experiences for anybody around the world.

kevin durant wearing the golden state warriors’ new ‘statement’ edition uniform

DB: what do you need in order to use this interactive element?

MH: you need three things in order to use this: a jersey with NIKEconnect that has the chip technology inside; a phone that can scan NFC, so most modern android devices, iPhone 7, iPhone 8, iPhone X; and the NIKEconnect app. if you have a NIKEplus account you just sign in, otherwise you can create one, it’s very simple. we also ask for your location so we give you more offers that are even more tailored to you. the idea is that we want you to wear your jersey, and ‘tap in’ anytime. if you tap in, even if your team aren’t playing, you’re going to get NBA highlights. if you tap in on game days, you can unlock additional exclusive offers.

lebron james in the new cleveland cavaliers ‘icon’ edition uniform

DB: what kind of content will fans have access to?

MH: it’s a nice mix of performance but also off court, so you get a nice sense of the culture of the game. if your athlete is kevin durant, you’ll see a lot of nice KD content, but you’ll also see a lot of content from the rest of the team. there are gifs, which you can save and share, and at the end of the game, you actually get a focused game re-cap video — a 1 to 2 minute movie that has all of the best plays from the night. the other cool thing is that you can see what offers are available, based on games that are upcoming. for example, if you tap in on game day, you can get KD’s spotify playlist. you can see that if you tap in you have a chance to get tickets for an upcoming game. the core of this experience is customized content.

NIKE adjusted the cut of the jerseys’ armholes around the back of the shoulders

although the jerseys that the players will wear on-court do not include the NFC chip, they are near identical to the fan versions. in order to develop the uniforms for the 2017-2018 season, NIKE engineers and designers focused their efforts on three key areas: movement, thermoregulation, and fit. importantly, the team used ‘atlas maps’ — a process that involves taking a digital body scan to evaluate sweat zones, contact zones, and where basketball players need full range of motion. designers then overlaid the maps to understand how to design a uniform in three dimensions.

uniquely, the charlotte hornets’ new uniforms and apparel feature the famous ‘jumpman’ logo

image © designboom

designers also modified the fit of the uniform based on range of information taken from the atlas maps, including scalloping the back of the jersey around the shoulder and shifting the motion vent on the shorts toward the front. ‘typically, players would size up to get more range of motion from their uniforms,’ says kurt parker, NIKE VP of apparel design. ‘but thanks to these maps we were able to streamline the fit by tailoring the uniforms to their need, resulting in the lightest uniform in NBA history.’

the NBA ‘association’ edition and ‘icon’ edition uniforms launch september 29, 2017 via NIKE’s website, while the ‘statement’ edition uniform will be available november 20, 2017.

designers shifted the motion vent toward the front of the shorts to facilitate more range of motion

image © designboom

a wide range of new apparel was unveiled at the launch

a presentation showcased the NBA’s ‘association’ edition uniforms for the upcoming season

a host of star names were in attendance, including paul george of the oklahoma city thunder

backstage, 30 NBA athletes wear NIKE’s new ‘statement’ edition uniforms

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Output: Sports clothing brand Nike has unveiled a range of connected fan jerseys as part of its partnership with the National Basketball Association (NBA). The shirts have a near-field communication sensor on the jock tag which, when tapped with an NBA app-enabled smartphone, opens up a range of personalised content, from pre-game arrival footage to special offers on merchandise to in-game and post-game scores, as well as player statistics.


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Porsche's Mission E could challenge Tesla on price
 While automakers have been not-so-quietly making promises to catch up to the likes of Tesla when it comes to electric vehicle range, a sports car maker may be the first to beat the startup at its own game. A production version of the 2015 Porsche Mission E electric concept is scheduled to go on sale at the end of 2019, with a price expected to start in the $80,000 - $90,000 range, according to CAR Magazine.

Speaking last week at the International Motor Show in Frankfurt, Porsche CEO Oliver Blume says the Mission E will look “very close” to the concept presented two years ago at the show. Smaller than Porsche’s other four-door car, the Panamera, the company says it is intended to bridge the gap between that vehicle and the 911 sports car.

The Mission E won’t be offered with any internal combustion engine

That apparently means in performance terms, too. Unlike Porsche’s current range of hybrids the Mission E won’t be offered with any internal combustion engine assistance. And yet the concept promised a 0–60 time of less than 3.5 seconds and a top speed of around 155 mph through a dual-motor setup that also allows for all-wheel drive. While a Tesla Model S P100D may beat it off the the line in its most ludicrous of modes, the Porsche would ultimately keep up on an unrestricted stretch of Autobahn. Yet like Tesla, Blume says Porsche will offer the Mission E with different power levels, so your “basic” $90,000 version may not be quite as powerful.

Blume also didn’t rule out expanding the Mission E range to include other styles, which may include a coupe or wagon or SUV. Porsche may be known for sports cars, but its Cayenne SUV has been pretty successful over the years. And being part of the vast Volkswagen Group that has promised to electrify everything by 2030, a slew of electric-only Porsches by then wouldn’t be so surprising.

Output: Porsche has announced an all-electric production version of its 2015 Mission E concept car that could rival Tesla on price. The model is scheduled to go on sale at the end of 2019, with prices expected to start between $80,000 and $90,000. Speaking at the International Motor Show in Frankfurt, Porsche CEO Oliver Blume said that the Mission E will be “very close” in appearance to the concept presented two years ago at the event. The car won’t be offered with any internal combustion engine assistance, unlike Porsche’s current range of hybrids.


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Brokers under threat by blockchain developments: DAC Beachcroft
 DAC Beachcroft report predicts blockchain impact, another IPT rise and increased focus on corporate governance for brokers.

Brokers could be eliminated from some parts of the insurance distribution chain if blockchain is used to implement what is known as smart contracts.

According to a report by DAC Beachcroft blockchain/smart contracts can be used to automate digital claims.

The report, Insurance Market Conditions & Trends 17/18, stated: “They can automate the claims process, enabling digital claim submission (via sensors or internet-connected data sources) and processing (eliminating the need for brokers and

Output: Brokers could be eliminated if the insurance industry adopts blockchain technology on a grand scale, according to a research report from DAC Beachcroft. Making use of smart contracts via blockchain, which can pay out claims automatically, may eliminate the need for brokers in certain parts of the insurance distribution chain. For more complex claims, however, human involvement may still be needed.


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Synthetic muscle advances development of lifelike robots
 Making Muscle

A group of researchers from the Columbia University School of Engineering and Applied Science has developed a new type of synthetic soft muscle that can be manufactured using a 3D printer. The material is capable of lifting up to 1,000 times its own weight and boasts fifteen times the strain density (expansion per gram) of natural muscle.

The material doesn't require an external compressor or equipment to regulate pressure, which are common facets of existing solutions that rely on pneumatic or hydraulic inflation. These components take up a lot of space, which makes it difficult to use them to create machines that are both small and able to operate independently.

The synthetic muscle consists of a silicone rubber matrix, which is peppered with microbubbles of ethanol. It's electrically actuated using a low-power charge administered via a thin resistive wire.

The synthetic muscle before and after actuation. Image Credit: Aslan Miriyev/Columbia Engineering

“We’ve been making great strides toward making robots minds, but robot bodies are still primitive,” said Hod Lipson, a professor of mechanical engineering who led the research group, in a press release. “This is a big piece of the puzzle and, like biology, the new actuator can be shaped and reshaped a thousand ways. We’ve overcome one of the final barriers to making lifelike robots.”

Soft Touch

This new synthetic muscle could be a great benefit to the field of soft material robotics. In recent years, there have been great advances made in creating robots that can move and perform actions an ever-expanding variety of actions. However, there are still plenty of movements which are still too difficult for rigid robots to perform.

Actions related to grasping and manipulation require a certain level of finesse and dexterity that current technologies struggle to attain. This new material could help to create a robot that can grip a soft object without causing damage, for instance.

Machines built using this technology could provide assistance to human workers in situations where delicate movements are required, like in a medical context. We might even see the material integrated into next-generation prosthetics to provide improvements to the control that users have over their digits.

The next step for these researchers is to replace the resistive wire currently used with conductive materials, which should improve the muscle's response time and longevity. Looking further forward, they plan to use artificial intelligence to control motion with the material, an advance that could bring with it more humanoid movement to the robots of tomorrow.

Output: Researchers have developed a synthetic soft muscle they believe will enable robots to perform delicate tasks. The team, from the Columbia University School of Engineering and Applied Science, 3D printed a silicone rubber matrix filled with microbubbles of ethanol, which was then actuated by a low-power charge. The new substance is far more malleable and practical than hydraulic and pneumatic solutions, and could represent a huge stride forward in the creation of robotic bodies.


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SPR Therapeutics funds wearable for pain management
 SPR Therapeutics, the Cleveland, Ohio-based developer of a wearable pain management device, announced yesterday the completion of $25 million in Series C financing. The company’s new funding — primarily secured from Frontcourt Ventures and an unnamed family office — will support commercialization of the Sprint Peripheral Nerve Stimulation System, and investigate its applicability across indications.

SPR bills the FDA-cleared Sprint Peripheral Nerve Stimulation (PNS) System as a non-narcotic alternative for chronic and acute pain relief. By connecting a wearable stimulater to a 0.2mm wire placed through the skin, the system activates target nerve fibers to relieve patients’ pain. The therapy requires no permanent implants, invasive surgery, tissue destruction, or opioid prescription.

“Sprint was developed to address a wide spectrum of chronic and post-surgical pain conditions affecting millions worldwide,” Maria Bennett, CEO, president, and founder of SPR, told MobiHealthNews. “It was specifically designed for use in the periphery to preferentially activate target nerve fibers, delivering sustained, significant pain relief without opioids, permanent implants, or tissue destruction. Our patients have found the therapy to be convenient, effective, and in many cases they’ve told us Sprint has given them back their quality of life.”

In a statement released when the Sprint PNS System received FDA clearance in 2016, the company described the system as ideal for short outpatient procedures, and completely reversible if necessary. Notably, a 2014 clinical study found that use of the system was associated with a 72 percent reduction in average pain among patients presenting with moderate-to-severe post-amputation pain.

According to the company, SPR has received nearly $23 million to date in non-dilutive funding from the US Department of Defense, National Institutes of Health, and others. The company also used today’s statement to announce the appointment of Nick Valeriani, former CEO of West Health and Johnson & Johnson veteran, to the company’s board of directors.

The primary wearable pain management device available commercially is Neurometrix’s Quell. Its newest iteration uses a smartphone app to allow users direct control of their pain management, and was approved by the FDA last November. Both the Quell and the Sprint PNS System rely on nerve stimulation technology, but unlike SPR’s subcutaneous system, Quell is worn above the skin.

Output: US health tech company SPR Therapeutics has secured $25m in a funding round led by Frontcourt ventures. The investment will support the development and marketing of the company's wearable pain management device, called the Sprint Peripheral Nerve Stimulation System. The device, which has been approved for use by federal authorities, works by running a current through a wire, placed next to the patient's skin, to trigger nerve fibres. It has been developed as a non-narcotic alternative for pain relief, and tests in 2014 recorded a 72% reduction in post-amputation pain.