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Google becomes lead investor in an app store for algorithms
 Google just placed yet another bet on the idea that artificial intelligence will remake the world—and throw off wild profits.

The company disclosed today that it has created a new venture fund dedicated to investing in AI and machine learning companies. The initiative's first public investment: lead investor in a $10.5 million funding round for Seattle startup Algorithmia, which has built a kind of app store for algorithms. The service aims to make it easier for any company to use machine learning.

Google wouldn’t make anyone available to talk about its new fund, which doesn't yet have a name, or disclose its size. The company will say it is led by veteran executive Anna Patterson, vice president of engineering for AI. And the fund's existence and lead role in Algorithmia's latest round fit with what you might call Google’s shovel strategy for artificial intelligence: The company believes there are piles of money to be made by giving other companies the tools to strike gold using the technology.

Google and Algorithmia both rather cutely refer to the effort to sell AI shovels as “democratizing” the technology. More plainly, they’re pursuing a business opportunity created by the recent, rapid advancement in the power of machine learning. Lots of companies with ideas about how to use the technology in their businesses can’t access the expertise needed to do so, which is in short supply.

Algorithmia is trying to fill that need with a marketplace that is something like an Etsy for algorithms. Developers can upload their creations—say, a machine-learning model that identifies a car’s model year from a photo—and get paid if another person or company uses them. The company’s system converts uploaded algorithms into cloud services that can be easily integrated into an app, website, or other service.

There are currently more than 3,500 algorithms listed in Algorithmia's marketplace, for everything from detecting nudity to parsing sentences. A private version of the platform is used by large companies in finance, pharma, and other industries to help developers on staff share and deploy their algorithms. “There’s a lot of infrastructure needed to make a reality out of this promise that AI is going to affect every business process out there,” says Diego Oppenheimer, CEO and founder of Algorithmia. “We’re the AI plumbers—it’s the stuff people don’t want to do, but it’s a big market opportunity.”

Google isn’t the first to spin up a dedicated AI fund or even to plow some of it into a startup working on AI plumbing. Microsoft announced it had created an AI venture fund last December, and in May invested in a startup called Bonsai that helps companies build with machine learning. IBM and Amazon have also created AI-related funds—IBM's for startups building on top of the Watson suite of developer tools and Amazon's for the Alexa voice operated assistant.

But just because a large company throws money at an emerging new technology doesn’t guarantee that such companies will stay ahead of the curve. Steve Blank, a veteran Silicon Valley entrepreneur and adjunct professor at Stanford, says that it makes sense for Google and others to fund outsiders. After all, no one company can hope to monopolize all the creativity and talent in a given area. But he says the history of the tech industry shows that dominant companies like Microsoft of the ’90s and Google of today eventually get out-maneuvered by startups more able to adapt to new ideas. (There's even a name for the phenomenon: the innovator's dilemma.)

“Machine intelligence is not like inventing a better sword, it’s like inventing gunpowder,” Blank says. “Smart startups will figure out how to attack large tech companies with it just as large tech companies used it to attack the companies before them.” In other words, tech giants handing out cash to enable creativity and innovation around machine learning could be handing their future competitors a loaded gun.

Output: Google has followed Microsoft, IBM and Amazon in creating a fund for artificial intelligence (AI) projects, and has promptly invested in its first start-up. The search giant revealed it had ploughed $10.5m into Seattle start-up Algorithmia, which has developed an online marketplace for the trading of algorithms. Google has refrained from providing details on the fund, other than to indicate it is being led by veteran executive Anna Patterson, vice president of engineering for AI.


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Nato researcher says malware attacks may warrant countermeasures
 The NotPetya malware that wiped computers at organisations including Maersk, Merck and the Ukrainian government in June “could count as a violation of sovereignty”, according to a legal researcher at a Nato-affiliated cybersecurity organisation.

If the malware outbreak was state-sponsored, the researcher says, it could open the possiblity of “countermeasures”. Those could come through retaliatory cyber--attacks, or more conventional means such as sanctions, but they must fall short of a military use of force.

Tomáš Minárik, a researcher at the Nato Cooperative Cyber Defence Centre of Excellence in Tallinn, Estonia, made the comments after the Centre concluded that the malware outbreak, which overwhelmingly hit Ukraine but also affected more than 60 other countries, can most likely be attributed to a state actor.

While a cyber-attack can trigger an armed response from Nato, Minárik cautioned that the damage caused by NotPetya was not sufficient for such an escalation. The law of armed conflict applies only if a cyber-attack causes damage “with consequences comparable to an armed attack”, during an ongoing international armed conflict, “but so far there are reports of neither,” he said.

However, Minárik, added, “as important government systems have been targeted, then in case the operation is attributed to a state this could count as a violation of sovereignty. Consequently, this could be an internationally wrongful act, which might give the targeted states several options to respond with countermeasures.”

A countermeasure is any state response which would be illegal in typical circumstances, but can be authorised as a reaction to an internationally wrongful act by another state. A “hack back” response, for instance, could be a countermeasure, but Nato CCDCOE says that such responses “do not necessarily have to be conducted by cyber means”; they cannot, however, affect third countries, nor can they amount to a use of force.

The suspicion that NotPetya – so called because the malware is superficially similar to an earlier ransomware variant called Petya – may be the work of a state sponsored actor arose shortly after the outbreak began in late June.

While the malware appears to be ransomware (a type of program which holds critical files hostage in exchange for payment), it contained several flaws that prevented it from ever being an effective moneymaker for its creators. Among other things, the payment infrastructure was tied to one email address outside their control, which was promptly blocked by the webmail provider, preventing victims form ever receiving their decryption key and unlocking their files.

But the malware, which was overwhelmingly seeded to victims through a compromised Ukrainian accounting program, did function well as a “wiper”, designed simply to render systems unusable and cause economic damage. It spread rapidly inside business networks, using a combination of exploits stolen from the NSA and more common weaknesses in older versions of Windows, ensuring that whole organisations found themselves unable to operate for days on end.

Unlike WannaCry, an earlier piece of ransomware also suspected of being the work of state-sponsored attackers (in that case, explicitly linked to North Korea by intelligence agencies including the NSA and GCHQ), NotPetya did not contain any functionality enabling it to spread unconstrained across the internet, limiting the vast majority of its damage to those organisations directly infected by the compromised accounting software.

Output: Should the NotPetya malware attack be found to be state-sponsored, it could be deemed a "violation of sovereignty" and therefore justify "countermeasures" such as sanctions or cyber retaliation, according to Tomáš Minárik, a researcher at Nato's Cooperative Cyber Defence Centre of Excellence. Minárik added that damage from the recent attack, which impacted Maersk, Merck and the Ukrainian government computers last month, was not of a magnitude to warrant the deployment of military force.


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China's Meizu launches entry-level smartphone Meizu A5
 It looks like Meizu has quietly launched a new entry-level smartphone in China, the Meizu A5. The device is currently available for purchase at Meizu’s website for a retail price of 699 Chinese Yuan, that’s about RM450.

First up, the Meizu A5 sports a modest 5” 720p display with a pixel density of 294ppi, and has a polycarbonate body. Beneath that, it is powered by a 1.3GHz quad-core 64-bit MediaTek MT6737 processor paired with 2GB of RAM and 16GB of internal storage.

Camera wise, there’s an 8MP f/2.0 shooter at the back along with dual-flash, and a 5MP f/2.2 camera at the front with beauty mode. Other specs include 3060mAh battery, LTE connectivity, Bluetooth 4.1, and supports microSD of up to 128GB.

Available in black, gold, and silver, the Meizu A5 is available for purchase starting today at the Chinese company’s official website.

(Source: Meizu via: GSMArena)

What’s your Reaction? +1 0 +1 0 +1 0 +1 0 +1 0 +1 0 +1 0

Output: Chinese consumer electronics company Meizu has launched a budget series of smartphones, with the first one, the A5, available on its website for CNY699 ($102). The website lists the Meizu A5 as the first in its affordable series, with a basic configuration suitable for first-time smartphone users.


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China's Meizu launches entry-level smartphone Meizu A5
 Meizu announces budget-centric A series with the launch of Meizu A5 News oi -Rohit Meizu A5 is the first in the budget series and offers a 5-inch HD screen, 2GB RAM paired with a MediaTek CPU

Meizu has announced a new budget-centric series of Android smartphones for consumers. The company's official website lists Meizu A5 as the first in the affordable series with basic configuration suitable for first time smartphone users.

As per the company's listing, Meizu A5 sports a 5-inch HD screen with a contrast ratio of 1000:1. The smartphone is 8.3mm and weighs 140g. As far as processor and RAM is concerned, Meizu A5 handles multitasking with 2GB of RAM and the smartphone has a quad-core MediaTek MT6737 CPU to take care of processing part.

For photography, the company is offering an 8MP rear camera with f/2.0 aperture. The smartphone has a 5MP selfie shooter. On connectivity front, Meizu A5 comes with 4G LTE, Bluetooth 4.1, Wi-Fi, GPS, A-GPS.

Pricing and Competition

As per the pricing on the company's official website, the smartphone will sell around Rs. 6,500 if it's launched in the Indian market. This will make the Meizu A5 compete against the likes of sub Rs. 8K handsets from Xiaomi (Redmi 4A, Redmi 4), Lenovo (K series), Micromax, Intex, iTel, etc.

It will be a tough fight for Meizu as these smartphone companies have a good base in the Indian market and Meizu is still trying o gain a market share in the crowded market. Moreover, Nokia is now also selling Nokia 3 in sub Rs. 10k price-point which further toughens the fight for the best budget Android handset.

Stay tuned on GIZBOT for more on Meizu A5.

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Output: Chinese consumer electronics company Meizu has launched a budget series of smartphones, with the first one, the A5, available on its website for CNY699 ($102). The website lists the Meizu A5 as the first in its affordable series, with a basic configuration suitable for first-time smartphone users.


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Concerns over Chinese shadow banking sector continue
 Jobs and economic expansion are key goals for China’s policymakers. But capital acquisition by firms can be difficult and lead them to shadow banking which may cause serious economic and financial consequences.

China must expand its macroeconomy to provide jobs, keep factories operating, and stay globally competitive. The problem is that many Chinese firms either cannot operate in an efficient and profitable manner or lack financial resources to grow or remain solvent. For these firms, financial capital is severely needed, but fund acquisition is the conundrum. While shadow banking can help these businesses, new problems arise making for an even bigger dilemma.

What is shadow banking?

Shadow banking involves acquiring financial capital in an unregulated environment. This involves non-bank financial intermediaries providing firms loans, which is similar to traditional commercial banking but is actually outside the government’s regulatory purview. For example, a clothing manufacturer lends money to an electronics maker without worry of financial regulations regarding collateral or meeting ratio requirements. Small businesses in China can turn to shadow banking for loans when they are in a credit crunch, have exhausted the usual traditional forms of borrowing, or wish to avoid borrowing complications and expenses. On the positive side, shadow banking allows quicker access to financial capital than traditional banking transactions. This also means greater risk to the lender if the borrower has serious financial problems and needs funds to stay afloat while really masking widening financial cracks.

The scale of this issue in China is reflected in Moody’s estimates of China’s shadow banking industry which stand at $8.5 trillion.

Chinese businesses see shadow banking as a necessary alternative since they are faced with government imposed lending restrictions. These include limits on bank lending imposed by the People’s Bank of China (PBOC), a cap of bank loans to deposits of 75 percent, and government regulators discouraging loans to certain industries.

Shadow banking originated due to the 2008-2009 Financial Crisis, when the Chinese government assembled a $586 billion stimulus package with more than 50 percent of the funds available through bank lending. This helped keep China’s economy on track for economic growth. Unfortunately, it meant cheap credit for businesses, fueled a speculative housing bubble, kept inefficient state-owned enterprises (SOEs) operating, and eliminated years of Chinese banking financial discipline. The need for credit access grew, increasing China’s shadow banking industry. Moody’s reports that China’s shadow banking grew approximately 30 percent annually for the last three years, while globally the growth rate was 10 percent. China’s shadow banking is 80 percent of its GDP, but it is far behind the United States where it is 150 percent of GDP.

Financial implications of shadow banking

China’s commercial banks, investment banks, and trust companies are involved in shadow banking by making off-balance sheet loans and leasing arrangements. These are repackaged into financial instruments such as entrusted loans and wealth management products (WMPs) that private individuals can purchase for a higher return than bank deposits. While commercial banks handle lending and deposits, trust companies have more flexibility, combining various elements of banking and asset management. Commercial banks have used shadow banking for loan reclassification of their delinquent loans, as such efforts entail less requirements imposed by regulators than official channels. Here loans have higher default risks even though there is the potential for higher returns. Packaging these risky loans into WMPs or entrusted loans gives commercial banks an opportunity to remove them from their portfolios.

The most popular shadow banking financial product offered to investors and depositors are WMPs which are a portfolio of assets giving investors a return based upon performance. The underlying assets can consist of one large debt obligation or a pool of loans. WMPs are popular with banks and trust companies since they can substitute for bank deposits and depositors are attracted to them for the higher return than other bank products. Investors and depositors assume that the generous return offered by these instruments are guaranteed by the offering bank or trust company.

In essence, investors and depositors are expecting the best of both worlds: higher return than on formal bank deposits and a guarantee by the issuer. The problem is how financially realistic this expectation actually is. Compounding this complicated situation is that WMPs are not regulated and not on the books of Chinese banks. According to the Chinese state news media, investors have placed $4.4 trillion into WMPs; equaling approximately 40 percent of China’s GDP.

Entrusted loans are made by large corporations where banks or finance firms act as intermediaries or trustees. Entrusted loans are made either between large firms (either in the same industry, capitalization category) to suppliers or vendors, or customers. The loans are run through banks for legal reasons since the PBOC imposed a regulation in 2000 making it mandatory for a financial institution to facilitate loans occurring between two non-financial businesses. The key here is that banks are protected from the borrower’s default risk by the non-financial firm. Entrusted loans also occur when one bank makes a loan to another – an interbank loan. Entrusted loans have become the second largest financing source, surpassed only by bank loans. The amount of newly made entrusted loans achieved a zenith in 2013, when they comprised almost 49 percent of total shadow banking transactions. The problem is that loans may be made on a wink and a nod in order to keep a customer or sole supplier operating. An additional motivation is the future hope that the favor may be returned in the form of an entrusted loan to the original lender.

Need for reform

China’s leadership knows it desperately needs to reform the shadow banking industry, since the potential for financial disaster is great. In April 2017, President Xi Jinping admonished top ministers to stabilize China’s financial system while the International Monetary Fund (IMF) and Financial Stability Board (FSB) called for immediate reforms and regulations. Both China’s leadership and international financial authorities recognize that its financial system is susceptible to greater-than-expected bank losses and a liquidity trap that will be extremely difficult to escape from. While the China Banking Regulatory Commission under Chairman Guo Shuqing has issued directives designed to crack down on shadow banking practices, the real question remains: is it enough?

Output: China's reliance on shadow banking is said to be putting the country's economic growth as well as global markets at risk. While Chinese authorities have moved to clamp down on shadow banking, Moody's estimates it has still grown around 30% annually for the past three years to about $8.5tn. Moody's said that measures to curb shadow banking in China are credit positive for Chinese banks. However, some adjustment risks are also evident, as interest rate moves mean banks relying on short-term market funds face higher borrowing costs and "are also exposed to refinancing risks, as their investment portfolios have longer tenors and often lack secondary market liquidity".


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Australian companies under pressure to disclose climate risks
 Some of Australia’s largest listed companies, including Woodside, Rio Tinto and Santos, are likely to face sweeping changes to the way in which they model, plan for and disclose risk from climate change to investors. How they respond will affect their ability to attract funding from lenders, insurers and superannuation funds who are under pressure to stress-test investments for a carbon-constrained future.

The release last week of a report by the Financial Stability Board’s taskforce on climate-related financial disclosures is expected to add pressure on publicly listed companies to formalise their climate risk disclosure practices – particularly through scenario analysis – or risk investors pulling finance and rating agencies making assumptions about their risk profile.

The taskforce’s purpose is to ensure more methodical, comparable and consistent disclosure on climate-related risks and opportunities. It is also to stave off a global financial crisis-style correction as the financial community manages its exposure to assets which could rapidly become redundant as limits on carbon emissions tighten to 2050, well within the lifetime of most large-scale infrastructure projects. An independent financial thinktank, the Carbon Tracker Initiative, has referred to this as a “carbon bubble”.

“The aim is to enable better decision-making by capital markets and, ultimately, to ensure the financial system is not going to be exposed to the sort of systemic risk or shock that we’ve seen in the past with financial crises,” said Michael Wilkins, S&P’s global representative on the taskforce. “The more information that is out there, the more that it can be incorporated into decision-making and better capital allocation with less risk of systemic shock.”

The taskforce’s recommendations will go to the G20 summit in Hamburg on 6-7 July 2017. More than 100 firms with market capitalisations of more than US$3.3tn and financial firms responsible for assets of more than US$24tn have encouraged the adoption of the taskforce’s recommendations.

“The Paris agreement means much of the world has to achieve net zero emissions by 2050 at the latest and it’s clear that many businesses are not pursuing a strategy that’s consistent with this,” said Kate Mackenzie, head of finance and investment at the now defunct Climate Institute.

“It’s not just the resources sector, but those who invest and finance them, and those who rely upon them. Both the oil industry and the auto industry are right now coming to terms with the prospect that the era of internal combustion engines may be ending much faster than many of us thought.”

In Australia – where carbon-intensive oil, gas, coal and iron ore extraction industries drive trade, economic prosperity and geopolitical influence – many of the largest listed banks, insurers and super funds are heavily invested in these areas and are set to drive further change.

“The financial sector is leading and that’s partly due to the campaigns they’ve faced for lending to fossil fuels and how that fits into their overall portfolios,” said Dan Goucher of the environmental campaign group Market Forces.

A speech given by APRA’s head, Geoff Summerhayes, earlier this year, in which he stressed the need for banks and insurers to act on the taskforce’s recommendations, is widely seen as a turning point for Australia’s financial sector. As a result, institutional investors such as Blackrock, Fidelity and Legal & General Investment Management are voting to support shareholder resolutions on climate risk disclosure. It is a seachange for Australia’s business sector and surpasses any resistance to change at a political level.

But for energy and utility companies – those most affected by the rise of clean technologies, carbon caps and investor pressure to quantify how assets will continue to deliver shareholder value in a carbon-constrained future – progress has been patchy. Oil and gas companies in particular have argued that putting sensitive information on their asset and resource base into the public domain could jeopardise their competitive advantage globally.

“AGL is a leader in terms of climate risk disclosure. They’re one of only two companies which has done scenario analysis publicly. The other is BHP Billiton. Origin has made commitments but hasn’t really delivered in terms of disclosure. The smaller utilities have done very little,” said Goucher.

Although it is a struggle to see how oil and gas companies such as Woodside can transition to a low carbon future beyond deploying gas as a transition fuel, Emma Herd, at the Investors Group on Climate Change, is optimistic: “There is much energy companies can do in the technology space to adapt to new challenges.”

Not long ago investors were encouraged to divest from fossil fuel companies entirely. Instead, such companies called on investors to engage with them about their concerns. This has led to some stakeholder resolutions requiring companies to publish more information on climate risks, the most recent one being at ExxonMobil.

The taskforce’s recommendations go a step further in trying to ensure disclosures are comparable between companies to facilitate more effective engagement on the issue. Photos of green landscapes in annual reports will no longer cut it.

“Disclosure isn’t just about publishing pretty reports any more,” said Mackenzie. “It’s about demonstrating how you are responding to climate change-related risks, and why.”

Output: A report last week by the Financial Stability Board taskforce on climate-related financial disclosures will demand greater commitment from publicly listed firms to make known how they are engaging with climate-related risks. Large Australian companies, including Woodside, Rio Tinto and Santos are being urged to approach the modelling, planning and disclosure of risk in a more methodical and formalised way. While the financial sector has mainly responded proactively to the taskforce's recommendations, businesses in Australia's oil, gas, coal and iron ore extraction sectors face a challenging turning point, as they attempt to deliver shareholder value in a carbon-constrained future.


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UC San Diego researchers create ultra-low power IoT sensor
 Researchers at UC San Diego have developed a temperature sensor that runs on tiny amounts of power -- just 113 picowatts, around 10 billion times less power than a watt. The sensor was described in a study recently published in Scientific Reports. "We're building systems that have such low power requirements that they could potentially run for years on just a tiny battery," Hui Wang, an author of the study, said in a statement.

The team created the device by reducing power in two areas. The first was the current source. To do that, they made use of a phenomenon that many researchers in their field are actually trying to get rid of. Transistors often have a gate with which they can stop the flow of electrons in a circuit, but transistors keep getting tinier and tinier. The smaller they get, the thinner the gate material becomes and electrons start to leak through it -- a problem called "gate leakage." Here, the leaked electrons are what's powering the sensor. "Many researchers are trying to get rid of leakage current, but we are exploiting it to build an ultra-low power current source," said Hui.

The researchers also reduced power in the way the sensor converts temperature to a digital readout. The result is a temperature sensor that uses 628 times less power than the current state-of-the-art sensors.

The near-zero-power sensor has a temperature range of -4 to 104 degrees fahrenheit and could potentially be used in wearables and both environmental and home monitoring systems. One power tradeoff is that it gives readouts slightly slower than currently used sensors, at around one temperature read per second. But the researchers said that shouldn't be a problem when giving reads on things like the human body where temperatures don't change too quickly. They're now working on optimizing the design and improving its accuracy.

[Image: UC San Diego Jacobs School of Engineering]

Output: Researchers at the University of California, San Diego have exploited the problem of "gate leakage" in tiny transistors, and used it to power a wearable using 113 picowatts, which is around 10 billion times less power than a watt. The sensor also requires 628 times less power to provide a digital temperature readout in a range of between -4 and 104 degrees Fahrenheit. The team is currently focusing on improving the sensor's accuracy and optimising the design.


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Lawyer calls for Google settlement to be redirected to web users
 by Wendy Davis @wendyndavis, June 30, 2017

Class-action activist Theodore Frank has asked a federal appellate court to scrap Google's $5.5 million settlement of a class-action alleging that it violated Safari users' privacy by circumventing their no-tracking settings.

The settlement "provides millions of dollars to the attorneys, and zero dollars to the class," Frank says in papers submitted this week to the 3rd Circuit Court of Appeals. "This Court should reverse this settlement approval as a breach of class counsel’s fiduciary duty to prioritize class recovery," he argues.

The deal, approved earlier this year by U.S. District Court Judge Sue Robinson in Delaware, requires Google to donate more than $3 million to six schools and nonprofits -- Berkeley Center for Law & Technology, Berkman Center for Internet & Society at Harvard University, Center for Democracy & Technology, Public Counsel, Privacy Rights Clearinghouse, and the Center for Internet & Society at Stanford University. Those groups must agree to use the money for projects related to online privacy. The lawyers who brought the case will receive $1.925 million, but individual Web users won't receive anything.

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The litigation stemmed from Google's involvement in the "Safari hack" -- a privacy scandal that came to light in 2012 when researcher Jonathan Mayer published a report stating that Google (and other companies) circumvented Safari's privacy settings and set tracking cookies. Google was then able to target ads to those users based on their Web-browsing activity.

Google confirmed Mayer's report when it came out, and said it had stopped tracking Safari users or would soon do so. News of the hack also resulted in charges by the Federal Trade Commission and other officials; Google ultimately agreed to pay $22.5 million to settle with the FTC, and an additional $17 million to settle with a group of state attorneys general.

Frank argues that the class-action settlement should be vacated for several reasons, including that the money could have been distributed to Safari users instead of to organizations. That type of distribution has happened in other class-actions, including a lawsuit against Facebook over its sponsored stories program. In that case, Facebook created a $20 million settlement fund, which paid $15 each to 600,000 users users who submitted claims.

The activist also contends that the settlement is improper on the grounds that Google had prior connections with at least four of the six fund recipients. "Google is a regular donor to the Berkman Center, Stanford Center, Berkeley Center, and Center for Democracy and Technology," Frank writes.

He contends that Google's promise to donate to those groups in order to settle a lawsuit "merely reflects a shift in accounting entries."

Frank adds: "Defendants will prefer to make payments to third parties to whom they are already donating money rather than payments to absent class members; donations engender good will, and often merely replace or supplement donations that are already in the pipeline."

The activist has challenged other privacy settlements, including Google's $8 million settlement of a lawsuit alleging it "leaked" search users' names to publishers and advertisers through referer headers -- the information that is automatically transmitted by Google to publishers and advertisers. (Some queries, like people's searches for their own names, can offer clues to users' identities.) Frank recently asked the 9th Circuit Court of Appeals to vacate the deal, arguing that search engine users who were affected by Google's practices won't receive any money.

Output: US lawyer and class-action activist Theodore Frank has called on the Third Circuit Court of Appeals to reverse Google's $5.5m settlement, according to papers filed, in a case in which the search giant was alleged to have violated Safari users' privacy. In the documents, Frank said the settlement was improper and funds should be paid to individuals rather than organisations. He further claimed that Google has links to "least four of the six fund recipients" and had donated money to them before. In the original case, Google was fined after being accused of bypassing Safari's privacy settings to target users with ads.


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Singapore house price decline slows to -0.3% in Q2
 SINGAPORE (Nikkei Markets) -- Private home prices in Singapore fell for the 15th straight quarter in the three months to June, but the decline was the slowest since the start of the downturn, strengthening views that the market may have found a bottom.

Flash estimates from the Urban Redevelopment Authority on Monday showed private residential prices in Singapore dipped 0.3% on quarter during the April-June period, following a 0.4% contraction in the first three months of the year.

Output: Private property prices in Singapore have fallen for the 15th straight quarter, although their slowing rate of decline hints an end may be in sight to the four-year slump, according to data from the Urban Redevelopment Authority. It revealed private residential prices fell 0.3% in the three months to 30 June after falling 0.4% in Q1, however, prime areas fell by 0.9% in the same period after a fall of 0.4% in Q1. The government has tried to stimulate the market, including by easing mortgage restrictions and releasing more land, but the Singaporean central bank warned that expectations needed to be realistic.


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Self-governing blockchain platform Tezos raises $160m in 32 hours
 “Self-amending cryptographic ledger” Tezos has raised almost $200 mln in the first two days of its ICO.

The uncapped sale of its Tezzies (TEZ) tokens will continue through July 12. At press time Monday, contributions had reached 42,600 BTC ($104.3 mln) and 184,700 ETH ($51.2 mln) for a combined total of around $155.5 mln.

The lack of hard cap means Tezos could easily end up being the largest ICO ever once it closes in ten days’ time.

The project had garnered tremendous interest from the cryptocurrency community and beyond, thanks in part to support and bullish sentiment from celebrated investor Tim Draper.

With 11 days to go, and total funds already north of $130 million, it looks like the Tezos ICO will be the biggest crowdfunding effort ever. pic.twitter.com/PsvMrOBdVC — Brian Patrick Eha (@brianeha) July 3, 2017

Draper has since been somewhat quiet about his relationship with Tezos, while another project he sponsored, Bancor, also became the biggest ICO in history after it raised $153 mln.

This total was eclipsed just a week afterward by Brock Pierce’s Block.One ICO, however, which reeled in $185 mln.

The unlimited token issuance has meanwhile avoided the network clogging and mad rush which was ubiquitous with June’s prominent Ethereum token sales.

Tezos has remained free of any major technical problems, while it remains to be seen if developers can rise to the occasion and put funds offered, which could easily top half a billion dollars, to adequate use to generate value for investors.

Output: Cryptographic ledger Tezos has raised $160m in just 32 hours, and, factoring in the absence of a hard cap, is set to become the largest ICO in history. The self-amending ledger is yet to experience any major technical issues, and sales of Tezzies tokens will proceed until 12 July. There has been huge interest in the crowdfunding project, with support from prominent investors such as Tim Draper.


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IM Properties to test Tesla batteries in commercial unit
 IM Properties, a property manager and industrial developer in UK, announced that it is installing a Tesla Powerpack in one of its building in order to study the potential of completely offsetting their electric utility costs.

If successful, the company hopes to be able to offer a whole new added value to its customers by using Tesla’s Powerpacks and solar energy.

They are trying the concept at a 69,000 sq ft development called HUB69 currently under construction in Birmingham.

A 250 kW solar array is planned with a 100kW/170kWh Tesla Powerpack.

On their website, IM Properties details the calculations behind the economics of the building:

The calculations are based upon a supply contract from Npower wherein which the daytime rate is 10.623p and the night-time rate is 14.804p per kwh. From this the following electricity consumption estimate has been calculated: office consumption is 123,138 KWH, warehouse small power consumption is 132,787 KWH and warehouse lighting consumption is 48,000 kwh. This provides an electricity cost calculation as follows: total annual consumption = 303,925 kwh. Cost per annum at 10.623p = £32,286 plus £4,933 standing and capacity charge on 300 KVA = £37,218. Self-consumption of generated energy is estimated at 90% which is 201,857 kwh of ‘free’ energy. The remaining balance of £15,775 per annum is reduced by revenue from FFR (Firm Frequency Response) amounting to £11,669 which is an ancillary service (subsidised by National Grid) received via an aggregator. The remaining revenues are received through TNUoS (Transmission Use of System charges, often known as TRIAD) (£7,124) and DUoS (Distributed Use of System charges) which is a direct saving on the electricity bill (£1,256). To achieve the savings on the electricity bill a standard supply contract (also known as a standard pass through contract) with these items listed a separate line items is required. There is no additional charges or levy’s from any supplier for this.

According to the company, it should result in a net revenue of £4,273 to the tenant.

Kevin Ashfield, IMP’s UK development director, told EGI:

“There is a general trend of increasing utility costs, which affects the bottom line of occupiers. Our first ECN building provides a carbon-positive facility, which will have long-term cost savings for the occupier.”

‘ECN’ stands for “electricity cost neutral”.

While it’s their first project of the sort, if the economics work as planned, they want to expand it to other 50,000 sq ft+ projects.

It’s the first ‘ECN’ project with Tesla Powerpacks in the UK, but Tesla has already deployed the battery pack in the country. Last year, they did a 5-Powerpack project with Camborne Energy Storage in Somerset.

Output: UK property manager and industrial developer IM Properties has revealed plans to install a Tesla Powerpack in a building currently under construction in Birmingham. The 69,000 sq ft HUB69 development is set to feature a 250 kW solar array, alongside a 100kW/170kWh Tesla Powerpack. If the project proves economically successful, IM Properties plans to use the Powerpack system in all its 50,000 sq ft+ projects.


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Worrying precedent as cyber firms open source code to governments
 Over the last couple of weeks, there’s been a disturbing trend of governments demanding that private tech companies share their source code if they want to do business. Now, the US government is giving the same ultimatum and it’s getting what it wants.

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On Sunday, the CEO of security firm Kaspersky Labs, Eugene Kaspersky, told the Associated Press that he’s willing to show the US government his company’s source code. “Anything I can do to prove that we don’t behave maliciously I will do it,” Kaspersky said while insisting that he’s open to testifying before Congress as well.

The company’s willingness to share its source code comes after a proposal was put forth in the Senate that “prohibits the [Defense Department] from using software platforms developed by Kaspersky Lab.” It goes on to say, “The Secretary of Defense shall ensure that any network connection between … the Department of Defense and a department or agency of the United States Government that is using or hosting on its networks a software platform [associated with Kaspersky Lab] is immediately severed.”

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Jeanne Shaheen, a New Hampshire Democrat tells ABC News, that there is “a consensus in Congress and among administration officials that Kaspersky Lab cannot be trusted to protect critical infrastructure.” The fears follow years of suspicion from the FBI that Kaspersky Labs is too close to the Russian government. The company is based in Russia but has worked with both Moscow and the FBI in the past, often serving as a go-between to help the two governments cooperate. “As a private company, Kaspersky Lab has no ties to any government, and the company has never helped, nor will help, any government in the world with its cyberespionage efforts,” an official statement from Kaspersky Labs reads.

The proposal prompted an official response from Russian Communications Minister Nikolay Nikiforov. He warned that any “unilateral political sanctions” would prompt retaliation from Russia. He emphasized that his government uses “a huge proportion of American software and hardware solutions in the IT sphere, even in very sensitive areas.”

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The fight over source code comes at a moment when Americans are deeply distrustful of the Russian government. The Russians alleged involvement in the hacking of the 2016 election combined with numerous suspicious ties to our president’s campaign has everyone on edge. But setting the precedent of gaining trust through source code access is dangerous, as is capitulating to those demands.

Russia has been making the same requests of private companies recently. Major technology companies like Cisco, IBM, Hewlett Packard Enterprise, McAfee, and SAP have agreed to give the Russian government access to “code for security products such as firewalls, anti-virus applications and software containing encryption,” according to Reuters. Security firm Symantec pointedly refused to cooperate with Russian demands last week. “It poses a risk to the integrity of our products that we are not willing to accept,” a Symantec spokesperson said in a statement.

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The risks are the same whether it’s the US or Russia being given access to source code. It gives these governments an opportunity to locate security vulnerabilities that they might not be able to find otherwise. Obviously, Russia has been accused of numerous cyberattacks lately, including the Yahoo email breach and the hacking of the DNC. But the US also hoarded security vulnerabilities for years to use as cyberweapons. Recent global outbreaks in ransomware have been traced back to tools from the NSA that were leaked by a group known as the Shadow Brokers. In a statement following the WannaCry ransomware attacks, Microsoft said “an equivalent scenario with conventional weapons would be the U.S. military having some of its Tomahawk missiles stolen.” It’s obvious that the US can’t be trusted with this knowledge and companies shouldn’t help them gain it.

Lawmakers have every right to worry about Kaspersky Labs’ products being used on official government systems. If they have some sort of knowledge that we don’t, they should cut ties. But setting this sort of precedent is not a good sign. Kaspersky agreeing to the demand is not a good sign. Numerous western companies doing the same for Russia is not a good sign.

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In the same way that experts say that you shouldn’t pay the ransom when hit by ransomware, tech companies need to block this coercion before it gets out of control.

[Associated Press]

Output: Concerns are rising over the precedent being set by cyber security firms opening their source code to governments. Russian cyber-security firm Kaspersky Labs has agreed to let the US government review its source code, after a proposal was put to the Senate to sever connections between the US Defence Department and the company's software platforms. Private US firms are also said to have given into demands to divulge codes to the Russian government. Russian Communications Minister Nikolay Nikiforov warned “unilateral political sanctions” would prompt retaliation, highlighting the proportion of American software and hardware used by the Moscow government, even in sensitive areas.


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Click-to-buy ads help turn social media users into shoppers
 Shoppable ads have soared in popularity over the past year and provided major headway in turning social media users into shoppers, enhancing the click-to-buy platform.

The trend has quickly made its way into nearly every major social media platform’s interface, including Facebook, Instagram, Snapchat and Pinterest.

Most recently, a company called MikMak announced that it would be testing shoppable videos on Instagram Stories and Snap Ads, with links to e-commerce sites, making the click-to-buy experience all the more visual.

Influencer marketing is a fast-growing market for shoppable ads, as it’s increasing in popularity among brands and influencers alike.

Output: Shoppable ads are encouraging e-commerce by reducing the number of clicks required to make a purchase, with Facebook, Pinterest, Instagram and Snapchat picking up on the trend. Recently, MikMak, a company that creates, measures and distributes shoppable video campaigns, has announced it will be testing shoppable videos on Instagram Stories and Snap Ads. In addition, brands using shoppable ads alongside online influencers are also likely to see higher rates of engagement with consumers, as the brands make an emotional connection using personalities via organic content. However, ads that feel "inauthentic" have proved a turn-off to one-third of customers, according to Bloglovin'.


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Reckless selling of car finance by UK salesmen raises slump fears
 Young drivers are being tempted into dangerously high levels of debt by car dealers offering them new vehicles for no money up front.

Ruthless salesmen are offering customers Audis, Vauxhalls, Suzukis and Fords worth up to £20,000 for no deposit – even if they admit they are unemployed, on low wages or have a poor credit rating.

But the deals commit them to paying hundreds of pounds per month for years. If they fail to keep up payments, they face having the cars repossessed and court orders forcing them to pay the outstanding loan.

Cars like this Audi A1 are being offered to customers for no deposit - even if they have bad credit rating

The findings by undercover Daily Mail reporters come amid fears that irresponsible lending by car dealers is risking another financial crash. Experts fear that if huge numbers default on loans, it will cause a domino effect that could cripple the City.

Last night, MPs and campaigners called for an urgent crackdown on the ‘reckless’ lending, while Vauxhall and Suzuki launched probes into the conduct of their dealerships.

City watchdog the Financial Conduct Authority is already investigating ‘irresponsible lending’ in the motor industry. Among the Mail reporters’ findings:

One salesman told a 24-year-old how to write a credit check form to ensure he was approved;

Another tried to sell a £15,000 Audi to a young man who said he was out of work;

Elderly drivers are also targeted, including a 71-year-old left in £3,500 debt after having a heart attack.

In some cases, dealers are contributing up to £1,000 to the personal contract purchase (PCP) deals and offering zero per cent interest rates as incentives. Some pay-monthly deals result in the driver eventually paying less for the car than if they had bought it for cash on the day.

Dealers do this because the vast majority of drivers on PCP deals don’t pay off the car in full. They pay monthly for a few years before returning the car and starting a new deal – a cycle they continue.

City experts fear that a huge default on the loans could end up crippling the city

There has been a surge in motorists taking out loans for new cars and defaulting on payments. In a chilling echo of the sub-prime mortgage crisis of 2007, car finance firms packaged and sold £5.5billion of risky loan debt to investors last year – twice as much as the year before. Last week, the Bank of England warned that drivers owe £58billion on car finance – an increase of 15 per cent in a year.

The deals allow drivers to have a new car for a few years in return for monthly payments. At the end of the contract, they are given the option to pay off the remainder and own the car, or to return it.

There are strict mileage limits, and drivers are charged extra if they damage the car. To end an agreement early, they have to pay off at least half of their debt.

If the driver falls behind on payments, the finance company can repossess the car and apply for a County Court Judgment (CCJ). An order can be made so the money is automatically taken from the owner’s wages. A charge can be put on their home, their bank accounts can be frozen and bailiffs can seize possessions. The CCJ stays on their credit file for six years, making it difficult to get a mortgage or a personal loan.

Car salesman are allowing customers to have new cars in return for years of monthly payments (file photo)

Buyers do have to pass a credit check, but unlike mortgage checks, car finance providers don’t usually sift through bank statements to see whether the car is affordable.

Many providers offer these deals as long as the monthly payments don’t exceed a quarter of their take-home pay, meaning drivers earning just £8,200 a year can walk away with a new £12,500 Ford Fiesta.

Our undercover reporters visited 22 dealerships. At an Audi dealership in Edinburgh, a reporter who said he was unemployed was offered a £15,000 car with no deposit. A reporter who said he was working part-time on the minimum wage was offered a £15,000 Seat Ibiza without a deposit at a Seat dealership in Manchester.

Another reporter suggested that he had bad credit, but he was offered an £8,600 Vauxhall Corsa in Birmingham.

Kevin Barker, 71, found himself £3,500 in debt when he suffered a heart attack six months into a PCP deal. He said a ‘pushy’ Toyota salesman ‘pressured’ him into taking out a 36-month agreement in November 2014 and he was not told of the repercussions if he fell ill or lost his job.

At one dealership an undercover reporter was offered a £15,000 Seat Ibiza - despite saying he was working a part-time, minimum wage job (file photo)

Mr Barker, of Warton, Lancashire, was forced to retire after the heart attack. He said: ‘I don’t want anybody else to get into a situation like this.’

Toyota Financial Services said: ‘It would be inappropriate for us to comment on an individual case. We are committed to treating our customers fairly.’

The billions in car debt is increasingly being sold to investors. They make money on interest and, if people default on their payments, the cars can be repossessed. But with increasing numbers of new cars sold on three to five-year PCP deals, the second-hand car market is being flooded, bringing values down.

The Bank of England warns that if the value of second-hand cars keeps falling, banks risk losing as much as £1.7billion. This could lead to spiralling costs for consumers. Governor Mark Carney said lenders appeared to be ‘forgetting the lessons of the past’.

Banks risk losing as much as £1.7billion if the value of second-hand cars keeps falling

Tory MP Huw Merriman said: ‘Reckless lending can destroy the economy. It also has a devastating impact on those who get in to serious debt. If the industry cannot get its house in order then our regulators need to take action to protect us all from the practices uncovered by this investigation.’

James Daley, of consumer website Fairer Finance, said: ‘None of the lessons coming out of the 2008 financial crisis have been learned.’

Vauxhall, Suzuki Finance, Mazda and Volkswagen Financial Services, which finances Audi and Seat cars, said the Mail’s journalists did not go through with credit checks and anyone with poor credit would be declined.

Ford Credit did not respond to requests for comment.

No job? You can still have an Audi: In a showroom, a young driver with no income is offered a brand new car - using the controversial loan scheme that will saddle him with debt... and threatens a new financial crisis

In a showroom gleaming with luxury Audis, a dealer attempts to make a sale.

The smartly dressed young man, with slicked-back hair, is sitting behind a desk rolling a large gold ring around his finger. Light streams into the room through floor-to-ceiling windows.

‘You’ve had credit before?’ he asks, leaning forwards. ‘You’ll be fine then.’

The salesman is trying to sell a £15,000 Audi A1 hatchback to a 24-year-old who has wandered in from the street.

A brand new Audi was offered to an unemployed 24-year-old - who would have to pay just £215 for 48 months

The buyer – an undercover Daily Mail reporter – has said he is out of work. He is applying for jobs, he says, and hopes to find one soon – but he fears he won’t pass a credit check. Surely this means he cannot afford a brand new Audi?

The confident dealer appears to have no qualms about offering him the car. He declares that for monthly payments of £215 for just 48 months, the unemployed buyer can happily drive out of the Edinburgh showroom. And after the deal ends, all he needs is another £6,958 to own it outright.

The scenario seems unfathomable. How can such a high-value car loan be offered to someone in their early twenties who doesn’t have a job?

Yet an investigation by the Mail has found that similar conversations are happening in showrooms across the country.

Similar unfathomable scenarios are happening all around the country

Reporters visited 22 dealerships in England and Scotland, saying they were in their early twenties and either unemployed, on low incomes or trying to buy a car despite having poor credit ratings. Half of the dealerships – including ones selling Audis, Mazdas, Suzukis, Fords, Vauxhalls and Seats – told them they could have a brand new car without paying a penny up front.

In each case they were offered Personal Contract Purchase (PCP) deals – a type of car loan that now makes up nine out of ten car sales bought on finance in Britain.

These deals offer smaller monthly payments than traditional car loans.

This is because under PCP deals, the customer only pays off a portion of the car’s worth over a few years, rather than paying off the full value of the vehicle.

From the driver to the banker, route that could lead to another crash BUYERS Drivers get new cars for monthly payments, usually between three to five years. They then pay a lump sim to own the car and give it back. If the driber misses payments, the finance company can repossess the car and apply for a court order. Money can be taken from ages or a charge put on their home. SALESMAN Often on low salaries but can earn £200 for every sale. Commission often rises if they sell a car on PCP, experts say. Our reporters found salesmen repeatedly pushing PCP deals over others. DEALERSHIP Charges drivers for excess mileage and repairs. Earns commission from finance firms when they sell loan deals, and six -figure bonuses if they sell enough cars. FINANCE FIRM Effectively buys the car from the dealership and loans it to the driver, earning on interest charges. INVESTOR Some fiance firms package the bet into 'asset backed securities' and sell them to banks and pension funds. Interest is then passed on to investors. This type of debt packaging caused the mortgage crash in 2007. Advertisement !- - ad: https://mads.dailymail.co.uk/v8/ru/news/none/article/other/mpu_factbox.html?id=mpu_factbox_1 - ->

When this finishes, they can choose to pay off the rest of the car or hand it back and take home a new motor on another PCP contract. The smaller monthly payments make it much easier for people to pass credit checks.

Experts believe dealerships are encouraged to offer PCP deals by finance firms because they are incredibly lucrative, and hook drivers on a cycle of new deals every three to five years.

Back at the Edinburgh showroom, another salesman clarifies why our reporter could buy the car without having a job.

He says current employment can be disregarded if a buyer has a decent credit history.

This Ford Eco would be available to a call centre worker in his 20s - if he paid £268 a month for more than three years (file photo)

‘[Having a job] won’t make any difference,’ he says. ‘We drop it down to the finance company, they’ll do a credit check on you.

‘It’s not a case of you not having a job today and having a job tomorrow. We just need to see what the finance company says.’

Our reporter did not proceed to the credit check so it is unknown whether he would have been accepted for finance. In Stoke-on-Trent, Staffordshire, a reporter tells a Suzuki salesman that he is 24 and earning £18,000 a year in his first full-time job after graduating and taking a six-month break to travel the world. The salesman sits his customer on a large lime green armchair and sips coffee while flicking through deals on an iPad.

Our threshold is very, very low to get passed on finance. You shouldn't have a problem

He says he ‘shouldn’t have a problem’ buying a brand new car worth £12,999 without paying a deposit. The deal, for a Suzuki Swift SZ-T, costs just £169 a month for 48 months, he says. This is £8,112 over four years. He would then have to pay a further £4,824 to own it. The salesman offers advice on how to pass a credit check.

Crucially, he should leave out the six months spent travelling and make out that he went straight from his studies into work. He says: ‘In all fairness, for your profile, you want to be saying you have been working for six months, prior to that you were at university and you mostly had part-time income.’

The reporter then makes an alarming admission. He says he is behind on some credit card payments. Does that matter?

Reporters were told they would only fail credit checks if they have a County Court Judgment or reason for adverse credit (file photo)

‘At the moment our threshold is very, very low to get passed on finance,’ the salesman says.

‘All I can say to you is if you’re earning £18,000 – tick. If you have an average outgoing for bills, then you shouldn’t have a problem.’

In a Mazda showroom in Leeds, a reporter says he is working part-time after travelling abroad.

‘Unless you’ve got bad credit, we generally don’t have a problem with it,’ the salesman says.

‘If you’re buying a £25-£30,000 car, then they start asking about how much you earn and will want to check it. But at the moment, when you’re looking at an £11-£12,000 car, it’s all right.’

At other showrooms, the reporters are told they will only fail credit checks if they have a County Court Judgment or a reason for adverse credit. All of the car finance firms deny lending irresponsibly.

They said the Mail’s journalists did not go through with credit checks, which would flag customers with poor credit and decline their applications. After being contacted by the Mail, Vauxhall and Suzuki launched investigations.

Suzuki Finance said offers are subject to checks on credit and affordability. A spokesman said it takes ‘a prudent approach to lending’. A spokesman for Mazda said its underwriting team would have picked up that the customer was in temporary employment.

After being contacted by the Mail, Vauxhall and Suzuki both launched investigations into checks on credit and affordability (file photo)

Volkswagen Financial Services, which finances Seat and Audi cars, said it expects salesmen only to give customers information that is ‘appropriate to their financial demands and needs’.

The firm said all customers are evaluated through multiple credit reference agencies to ensure they can maintain repayments, and dealers have no involvement in lending decisions.

Ford Credit did not respond to requests for comment.

Output: Some UK car salesmen are "forgetting the lessons of the past" by selling vehicles to customers on low wages or with poor credit ratings, prompting fears of mass defaults and a crash in the market. The risks stem from long-term personal contract purchase deals, under which customers pay thousands of pounds over several years, a cycle which is also depressing the second-hand car market. The Bank of England warned car finance debt owed by UK drivers has risen 15% in the past year to £58bn and that banks could lose up to £1.7bn ($2.2bn) if the value of second-hand cars keeps falling.


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China's EV owners struggle with charging infrastructure
 CHONGQING, China -- It is nearly 9 p.m. on a Sunday at automaker Lifan's production site in the Liangjiang New Area suburb of Chongqing, yet the place is a hive of activity as batteries are loaded into vans. PandAuto, a car-sharing company in which Lifan has invested, operates fleets of electric Lifan 330 cars in several Chinese cities, including Chongqing. These vehicles use swappable batteries, and the site is Chongqing's hub for recharging them.

China's fleet users usually have their own dedicated charging stations. EVCARD, a car sharing company, has chargers at all its pick-up and drop-off stations, and as users typically hire cars for short journeys, worries about vehicle ranges are not a problem. But matters are more complicated for private consumers.

Output: China's prospering electric vehicle (EV) industry is crying out for a centralised solution to the complex infrastructure behind charging stations, with less than half of owners of EVs happy with the current system, according to a report by KPMG. Of the 141,254 public charging stations in China, independent electric vehicle charging expert David Zhang found that only 5% were available for powering EVs in the 32 cities he investigated. Siloed apps and payment systems, as well as varying standards, have added to consumer frustration, while experts have warned it could lead to a greater shift away from plug-in hybrids and battery-powered vehicles.


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Insecticide field trials show 'significant' damage to bees
 Bees and other pollinators are vital to food production but are in decline. Photograph: Cyril Byrne / THE IRISH TIMES

The world’s largest-ever field trial has shown for the first time the scale of damage to honey bees and wild bees - including the bumble bee - caused by widely-used insecticides.

The farm-based research on pesticides classified as neonicotinoids, along with a second new study in Canada, also suggests widespread contamination of landscapes and a toxic “cocktail effect” from multiple pesticides.

The landmark work provides the most important evidence yet for regulators around the world considering action against neonicotinoids, including in the EU where a total ban may be implemented this autumn.

The insecticides are currently banned on flowering crops in EU countries, including Ireland.

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The negative impacts found varied across different countries, leading pesticide manufacturers to question the results of the research, which they funded and which is published in the leading journal Science.

Differences in detrimental impact may be attributable to diet.

Neonicotinoids represent a quarter of the multi-billion-dollar pesticide market but have been repeatedly linked to serious harm in bees in lab-based studies.

Bees and other pollinators are vital to food production but are in decline, in part due to loss of habitats and disease.

However, there had been few realistic field studies to date to address the role of the insecticides and only occasional evidence for colony-level harm in wild bees.

Botanist Prof Jane Stout of Trinity College School of Natural Sciences said: "This is the study we have all be waiting for." It confirms what was shown up in laboratory settings, she added.

There was criticism from industry in the past that negative effects were arising from “unrealistic doses in the lab”.

Ireland was not one of the featured countries, but the findings have direct relevance here, she said, especially as negative impacts were shown in the honeybee and in solitary wild bees including the bumble bee.

Although Ireland does not have the same scale of insecticide-dependent crops as the countries featured in the main study, Irish farmers grow some oilseed rape and there are significant winter cereal crops grown here that involve coating of seeds with pesticide.

The research took place at 33 large farmland sites spread across the United Kingdom, Germany and Hungary. "We showed significant negative effects at critical life cycle stages," said Prof Richard Pywell, from the UK's Centre for Ecology and Hydrology, and part of the research team.

“If the bees are foraging a lot on oil seed rape, they are clearly at risk. This is a large and important piece of evidence, but it is not the only evidence regulators will look at.”

The €3million cost of the research was met by Syngenta and Bayer, the companies that sell the two neonicotinoids tested, as part of a voluntary commitment to increase the available field data. But the companies were not involved in the designing, conducting or reporting of the study.

Friends of the Earth nature campaigner Sandra Bell said: “This crucial study confirms that neonicotinoid pesticides come with a nasty sting in the tail for our under-pressure bees. It’s time for a complete and permanent ban on these chemicals.”

Prof Stout said she favoured a ban on these pesticides but a new risk might arise from use of other chemicals. The use of less chemicals in farming was her preference. This would require “a shift in the way we do farming” to keep it profitable and to ensure farmers can get the yields they expect.

Irish agricultural research body Teagasc last week issued guidelines to farmers underlining the critical importance of bees in the foodchain and the role of wildflowers in facilitating thriving populations.

Addressing tillage farmers at an open day in Oakpark, Carlow, Teagasc countryside management specialist Catherine Keena, said: “Pollinators, especially bees, are important, but unfortunately are in decline. We need more wildflowers in the countryside. Bees need food all year round, requiring a diversity of flowering plants in the landscape.

She added: “Farmers can help bees by allowing space for wildflowers to grow and flower within hedgerows and field margins, around farmyards, along farm roadways and in field corners. The quest for neatness on farms should not override consideration for bees.”

Federation of Irish Beekeepers’ Associations president Gerry Ryan added: “Many beekeepers work closely with farmers placing their beehives in fields of oilseed rape, peas and beans to improve pollination of the crops. It is important for tillage farmers growing these crops to provide pollinators with wildflowers outside the main crop flowering period.

Dr Úna Fitzpatrick, chair of the All-Ireland Pollinator Plan Steering Group, said: “Ireland has 98 different species of bees and one third of them are threatened with extinction. By having more wildflowers we can help protect bees and the livelihood of farmers and growers who rely on their ‘free’ pollinator service.”

Tillage farmers were also reminded to spray crop protection products in the early morning and late evening when honey bees are less active, and to notify local beekeepers in advance of carrying out the operation.

Additional reporting: The Guardian

Output: The world's biggest field trial has revealed the scale of damage caused by insecticides on honey bees and wild bees, which are vital to food production but have seen numbers declining. The report, funded by Syngenta and Bayer, which sell the two neonicotinoids tested, will provide crucial evidence for regulators globally that are considering action against these insecticides, including in the European Union where a total ban may be introduced this autumn. The two companies were not involved in the design or execution of the study.


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Russia and China in talks over $10bn worth of deals
 The two nations will study linking China’s trade and infrastructure plan with the Eurasian Economic Union proposed by Russia in 2014

Output: China's President Xi Jinping is in Moscow to discuss an array of deals relating to energy, trade and infrastructure with Russian President Vladimir Putin. The countries will sign deals worth more than $10bn, a move that is expected to reduce tensions between them, according to Li Huilai, China's assistant minister of foreign affairs. They will also discuss linking China's One Belt, One Road initiative and Russia's "Eurasian Economic Union", a proposed trade group in central Asia aimed at creating a single market with a free flow of labour, capital and goods by 2025.


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Facebook gets approval for Indonesian domestic unit
 Facebook has been given the approval to set up a domestic unit in Indonesia. Currently, the social media giant operates in the country through an office in Jakarta.According to Reuters, Facebook received an in-principle approval and the government is in the midst of the approval process. This was said by Thomas Lembong, chairman of Indonesia's investment coordinating board, Badan Koordinasi Penanaman Modal (BKPM).Lembong added that the board and Indonesia’s ministry of communications are currently in the process of deciding the kind of business unit Facebook would be able to establish.Currently, there are a few methods for a foreign company such as Facebook to be a locally incorporated but also receive foreign investments at the same time. This means the setting up of a Perseroan Terbatas (PT), which is a limited liability company. This means investors are liable for only the original investment amount should the company run into debt.Marketing has reached out to the investment coordinating board and Facebook for comment.In March last year, Facebook appointed Sri (Wido) Widowati as head of Indonesia. Widowati was tasked with leading Facebook’s business efforts in Indonesia, providing counsel and support to local and global brands and agencies in the country. She replaces Anand Tilak, who has moved into the role of global brand partner for Facebook, based in Singapore.

Output: Facebook has been granted "in-principle approval" for a domestic unit in Indonesia, according to Thomas Lembong, chairman of Indonesia’s investment coordinating board, Badan Koordinasi Penanaman Modal (BKPM). Indonesia’s ministry of communications and BKPM are yet to decide what form of business unit Facebook can establish, but a Perseroan Terbatas, or limited liability company, is a possibility. Sri Widowati was appointed by the social media giant last year to head their business endeavours in Indonesia.


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Scientists make headway with cheaper hydrogen fuel cell catalysts
 Battery-powered electric vehicles that give off no carbon dioxide as they drive are about to become mainstream. Today they constitute less than 1 percent of all rolling stock on the road globally, but multiple innovations in features such as the battery’s cost and lifetime have made prices so competitive that Tesla has more than 400,000 advance orders for its $35,000 Model 3, which is slated to hit the road in the middle of 2018.

Unfortunately, the other great hope for vehicles that exhaust no carbon—those powered by hydrogen-fed fuel cells—remains too pricey for broad sales. (The manufacturer’s suggested retail price for the Toyota Mirai is $57,500.) A raft of laboratories and businesses, however, are determined to cut costs by replacing one of the most expensive components in the fuel cells: the catalyst. Many commercial catalysts for fuel cells contain the precious metal platinum, which aside from being expensive, is too rare to support ubiquitous use in vehicles.

Investigators are pursuing several lines of attack to shrink the platinum content: using it more efficiently, replacing some or all of it with palladium (which performs similarly and is somewhat less expensive), replacing either of those precious metals with inexpensive metals, such as nickel or copper, and foregoing metals altogether. Commercial catalysts tend to consist of thin layers of platinum nanoparticles deposited on a carbon film; researchers are also testing alternative substrates.

Stanislaus S. Wong of Stony Brook University, who works closely with Radoslav R. Adzic of Brookhaven National Laboratory, is among those leading the charge. He and his colleagues have, for instance, combined relatively small amounts of platinum or palladium with cheaper metals such as iron, nickel or copper, producing many alloyed varieties that are far more active than commercial catalysts. Wong’s group has fashioned the metals into ultrathin one-dimensional nanowires (roughly two nanometers in diameter). These nanowires have a high surface area–to-volume ratio, which enhances the number of active sites for catalytic reactions.

Naturally, platinum-free catalysts would be ideal. Work on them is newer but bustling as well. In late 2016, for instance, Sang Hoon Joo of Ulsan National Institute of Science and Technology (UNIST) in South Korea reported that an iron- and nitrogen-doped carbon nanotube catalyst has activity comparable to commercial catalysts. Also, Liming Dai of Case Western Reserve University and his colleagues have invented a catalyst using no metal at all; it is a nitrogen- and phosphorus-doped carbon foam that is as active as standard catalysts.

Inventing and preparing a material that has excellent catalytic activity is just part of the challenge, Wong notes. Researchers are also working to scale up existing laboratoryproduction methods to ensure consistency in the activity and durability of the best candidates. In all phases of their efforts, experimentalists are getting help from theorists who apply sophisticated computer models to figure out how all sorts of variables affect performance—from the chemical compositions, sizes and shapes of metal nanoparticles to the detailed architectures of the support structures. Such collaborations, Wong says, should one day make it possible to rationally design superior catalysts for affordable fuel-cell vehicles.

Of course, the goal of a sustainable transport system demands not only zero carbon emissions during driving but also during the production and distribution of the fuel, be it electricity or hydrogen. That larger challenge remains.

Output: Researchers looking to find an alternative to the precious metals in catalysts, one of the most expensive components of a hydrogen fuel cell, are inching closer to finding a more economical and plentiful replacement. A team at Stony Brook University are developing ultra-thin one-dimensional nanowires that combine platinum or palladium with baser metals, while scientists at Ulsan National Institute of Science and Technology in South Korea have had promising results from an iron and nitrogen-doped carbon nanotube catalyst.


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Publicis expands PR services with The Herd Agency purchase
 Publicis Communications has announced the acquisition of The Herd Agency, one of Australia’s largest and most-awarded public relations agencies.

The acquisition enables Publicis Communications, part of Publicis Groupe, to provide clients with newly expanded public relations services, including: strategy, corporate affairs, earned media, stakeholder relations, integrated campaigns, issues and crisis management, social media and content marketing.

The agency will be renamed Herd MSL, marking the launch of Publicis Groupe’s public relations arm MSL into the Australian market.

Founded in 1996, The Herd Agency, has a team of 55 specialists in public relations, social media, content and creative, with a strong track record in consumer lifestyle, corporate, government, b2b, technology, and integrated campaigns. The existing leadership team of founder, Jamie Verco; CEO, Vanessa Liell; along with agency heads Katarina Farrell, Stuart Wragg and Lewis Shields will lead Herd MSL.

The agency has built their market-leading reputation by solving complex business problems through outstanding creative ideas, technically-excellent execution and content-led multi-channel campaigns for clients.

“The acquisition of The Herd Agency enables us to offer fully integrated public relations services to our clients for the first time. It couldn’t be timelier to expand our capabilities and award-winning talent base in ANZ. We’re optimistic about the new possibilities and opportunities this will bring to our respective clients.” said Michael Rebelo, CEO, Publicis Communications ANZ.

“This is an incredibly exciting time for our agency and our industry. As part of Publicis Communications, we have an outstanding opportunity to combine our strength in public relations and communications with one of the world’s global creative leaders. Our growth has been driven by our capacity to respond to the changing needs of the market with creativity and agility. What excites us most is our cultural fit and shared vision to deliver world-class integrated campaigns for diverse and ambitious brands,” said Jamie Verco, founder, The Herd Agency.

“We are thrilled to bring the MSL brand to Australia with one of the most dynamic agencies in the entire Asia Pacific region. Our outstanding new colleagues will fit right into our diverse network, as we together strive to build influence and deliver impact for our clients,” said Guillaume Herbette, Global CEO, MSL.

Output: Publicis Communications, part of Publicis Groupe, has acquired award-winning Australian PR company The Herd Agency, in a move that enables Publicis to offer "fully integrated public relations services to our clients for the first time," according to Michael Rebelo, CEO of Publicis Communications ANZ. The deal will see the company rebranded as Herd MSL, and marks the introduction of Publicis Groupe's PR unit into the Australian market. Founder Jamie Verco and CEO Vanessa Liell will remain with the company.


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A host of investors could elevate Deliveroo's value to $1.5bn
 Deliveroo could soon be worth as much as $1.5bn – well above the $1bn that leads to tech firms being labelled unicorns – with wealthy tech investors now jostling to buy a slice of the takeaway delivery company that relies on an army of self-employed couriers.

The $93bn (£71bn) SoftBank Vision Fund, which is backed by the state investment funds of Saudi Arabia and Abu Dhabi, as well as a host of technology firms including Apple and Japan’s Sharp, is said to be in the talks with Deliveroo, which wants to raise funds to finance expansion.

Last year, Deliveroo raised $275m from investors, taking the amount of cash raised by the delivery app, which was founded by Will Shu, a former investment banker, close to $500m. It is thought the current round of meetings with investors is looking to raise a similar amount.

If Deliveroo secures the predicted injection of funds, the valuation could be as high as $1.5bn, according to Sky News.

This would turn turn Shu into one of the British tech sector’s wealthiest entrepreneurs. Deliveroo’s plans are widely anticipated to include a stock market listing.

Deliveroo could not be reached for comment.

However, while customers benefit from having pizzas, burgers and noodles from chains such as Byron, PizzaExpress and Wagamama delivered to their front door, Deliveroo’s operating model has come under fire. Like other gig-economy companies, such as the taxi-hailing app Uber, Deliveroo uses thousands of self-employed contractors rather than employees, a model saving millions of pounds in holiday pay, sick pay and tax. The workers have no right to the minimum wage.

In April it emerged that managers at Deliveroo had been given a list of dos and don’ts setting out how to talk to the firm’s couriers, using terms that appeared designed to fend off claims the couriers were employees. Couriers should be referred to as “independent suppliers”, according to the document seen by the Guardian, and that, instead of hiring riders at a recruitment centre, senior staff should undertake “onboarding” at a “supply centre”.

In a key case relating to the future of the gig economy, the Central Arbitration Committee is investigating whether Deliveroo’s drivers are independent contractors, as the company argues, or whether they should be classified as workers with rights to holiday pay, the national minimum wage and collective bargaining via a union.

Matthew Taylor, a former adviser to Tony Blair, who was appointed by the prime minister last year to lead a review into the gig economy, is also due to report back. His report is expected to recommend ways to ensure insecure work is good for workers as well as businesses, with paying those on zero-hours contracts an enhanced minimum wage being one of the mooted remedies.

Output: UK-based online food delivery company Deliveroo has entered into talks with the $93bn SoftBank Vision Fund, as well as technology companies such as Apple, as it looks to raise $500m to support expansion, according to a report in The Guardian. If it secures the funds, the firm could be valued at a figure as high as $1.5bn. A $275m funding round last year brought Deliveroo's worth to almost $500m. However, the company has come under fire for the treatment of its drivers as self-employed contractors, a classification currently being examined by the Central Arbitration Committee.


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Warner Bros. Records names senior appointments to marketing team
 Warner Bros. Records announced the appointment of Chris Atlas to Senior Vice President, Head of Urban Marketing, and Mark Flaherty to Senior Vice President, Head of Marketing. Both will be based in the company’s Burbank headquarters, reporting to Larry Mattera, the label’s Executive Vice President/General Manager.

“Chris and Mark have a wealth of experience creating bold and original marketing campaigns that excite global audiences and help build long careers for artists,” said Mattera. “They are both inspiring leaders who will strengthen our expertise around specific genres of music, at a time when our approach to artist development must be more inventive and fan-focused than ever before.”

“Warner Bros. has a deep commitment to urban music and I am thrilled to join the team and drive their urban marketing strategy,” said Atlas. “I am thrilled to join WBR’s incredible roster of artists and executives in these ever-evolving times,” said Flaherty.

Atlas began his career at Tommy Boy Records, where he rose through the ranks to serve as A&R and founder of Tommy Boy Black Label, as well as General Manager of Urban Music Promotions. In 2001, he joined Cornerstone Promotion as VP of Urban Marketing & Radio Promotions, where he was involved in campaigns for Sprite, Reebok, and Boost Mobile. In 2008, he joined Def Jam Recordings as SVP of Marketing, eventually rising to EVP of Marketing, where he oversaw the marketing campaigns for the label’s roster of artists including Kanye West, Ludacris, Rick Ross and Alessia Cara.

Flaherty was most recently SVP/Head of Marketing at Interscope Records, where he worked with artists such as Imagine Dragons, Maroon 5, DJ Snake, One Republic, and X Ambassadors. Prior to Interscope, he was at Sony Music working at several labels (Jive, RCA/J/Arista, Epic, Volcano) in various roles ranging from SVP of Marketing & Digital Media to SVP/Head of Strategic Marketing & Brand Partnerships to VP/Head of Sales. As a published singer/songwriter, his music has been featured on TV shows from NBC’s “Today Show” to “Dawson’s Creek” and more.

Output: Warner Bros. Records has hired veteran music promotion strategists Mark Flaherty and Chris Atlas as SVPs and heads of marketing. Flaherty, former SVP at Interscope Records, has been appointed as head of marketing, while Atlas, previously EVP of marketing at Def Jam, will be in charge of of urban marketing. It is hoped that the duo will strengthen the label's expertise across various musical genres, ensuring its "approach to artist development" is "more inventive and fan-focused than ever before," said EVP Larry Mattera.


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Wood Group to add biometric monitoring to remote inspection tool
 Sometimes it helps to look to other industries for inspiration. Two years ago, when Wood Group was looking for ways to cut inspection and maintenance costs, it decided to come at the challenge from a different way.

“We needed to get external stimulation on our ideas,” says Liane Smith, Wood Group’s vice president of digital solutions.

“We met with NASA experts. We asked them, ‘how do you work on the International Space Station?’”

The company gleaned insights about how to make the right expertise available for each job.

“We

Output: Aberdeen-based energy services firm Wood Group is planning to add eBioGuard, a remote biometric monitoring device that can track changes to the physiology and bodily positions of workers, to its eWorking kit. Existing elements, including eXpert and eWorkpack, enable remote collaboration in real time, while also reducing printed paperwork by up to 90%. The kit saved one offshore operator an estimated £30,000 ($38,800) over a four-week trial, with the client able to receive and execute surveys significantly faster, Wood Group said.


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EU Commission offers €10m contract to dissect Google algorithms
 The European Commission is seeking a company to police Google’s algorithm in a tender worth €10m, following its record antitrust fine against the advertising business of €2.4bn (£2.1bn).

The tender is for a "Technical expertise to support the Commission on issues relating to an antitrust case in the IT sector."

It called for experts that can assess and process methods determining the display and positioning of generic search results and of paid search results such as online search advertising.

Earlier this week the regulator found that Google had abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service.

Commissioner Margrethe Vestager, in charge of competition policy, said she has no reason to believe that Google will not comply, but said the commission intended to monitor Google’s compliance closely. “This means this issue will remain on our desk for some time."

Google is also being investigated over claims it unfairly banned competitors from websites that used its search bar and adverts, and the commish is looking into whether it pays and limits mobile phone providers that use its Android software and Play app store.

The tender was published on the regulator’s website Wednesday, and first spotted by Politico. ®

Output: The European Commission has advertised a tender for a company with technical expertise to "support the Commission on issues relating to an antitrust case in the IT sector," according to a post on the regulator's website. The tender is seeking experts capable of assessing and processing methods for positioning results in online searches. The move followed a recent decision by the regulator, which found that Google had abused its market dominance. The search giant is also being investigated on suspicion of unfairly banning competitors from websites that used its search bar and ads.


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Eleven EU states found to have failed to meet emissions targets
 Member States recently reported the first information under the new EU National Emission Ceilings (NEC) Directive (2016/2284/EU). The EEA briefing ‘NEC Directive reporting status 2017’, gives a progress update on how Member States are meeting their emission ceilings under the NEC Directive. The briefing also provides an assessment of the projected emissions reported for 2020 and 2030 in relation to the Member States’ reduction commitments for those years set in the new NEC Directive.

The new NEC Directive restricts emissions for five key air pollutants: nitrogen oxides (NO x ), non-methane volatile organic compounds (NMVOCs), sulphur dioxide (SO 2 ) ammonia (NH 3 ) and fine particulate matter (PM 2.5 ). These pollutants contribute to poor air quality, which remains the single largest environmental health risk in Europe, causing respiratory and heart problems and shortening lifespans. They also can harm vegetation and sensitive ecosystems.

Key findings

On the basis of unadjusted emission totals, the following 11 Member States reported exceedances of their NEC Directive national ceilings for one or more pollutants in 2015: Austria, Belgium, Denmark, Finland, France, Germany, Hungary, Ireland, Luxembourg, Spain and Sweden.

Emission ceilings for nitrogen oxides (NO x ), non-methane volatile organic compounds (NMVOCs) and ammonia (NH 3 ) were exceeded by different combinations of six Member States for each pollutant.

Projected emissions reported by 23 Member States show that 18 do not consider themselves on track towards meeting their reduction commitments set for 2020 for NO x , NH 3 , NMVOCs, SO 2 and/or PM 2.5 on the basis of the policies and measures they currently have in place. Similarly, 22 Member States are not on track to meet one or more of their 2030 commitments.

For the EU as a whole, however, emissions for three pollutants (NMVOCs, SO 2 , and fine particulate matter PM 2.5 ) are already below the EU’s own 2020 emission reduction commitment set for these pollutants. Only for NO x a further, more significant, reduction is required in order to meet the 2020 reduction commitment. More substantial reductions are still needed for all pollutants if the EU is to achieve its 2030 emission reduction commitments.

Further details, including country- and pollutant-specific information, are available in the briefing.

Adjustment process

The new NEC Directive establishes a process that allows Member States to ‘adjust’ the reported emissions in their inventories downwards for compliance checking with the emission ceilings if certain conditions are met. Nine Member States have requested their data be ‘adjusted’ in this manner; the European Commission is presently reviewing the applications. The numbers of exceeded ceilings described in the EEA’s briefing will be lower if these applications are approved later in 2017.

Output: Eleven European Union states breached air pollution standards in 2015, largely as a result of agricultural and transport emissions, according to the European Environment Agency (EEA). Austria, Belgium, Denmark, Finland, France, Germany, Hungary, Ireland, Luxembourg, Spain and Sweden all exceeded limits on one or more pollutants. The data was obtained from the initial reporting by member states under the new EU National Emission Ceilings Directive. Of the EU’s member states, 18 are not on course to achieve their 2020 emissions reductions targets, while 22 are not set to meet at least one of their 2030 targets.


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Methane explosion in Arctic intensifies climate fears
 SIBERIAN TIMES The eruption left a 165ft crater in the Arctic tundra

The terrifying account came from a herdsman on the Yamal peninsula amid warnings of more than 700 sites in the region where further methane gas eruptions are predicted endangering homes and industrial sites. He was left clinging to a new-born deer after its mother bolted in fear. The sudden and deafening bang shook the ground and sent flames shooting into the sky after the explosion on the bank of an Arctic river, herders told top Russian scientists who raced to the scene following last week's eruption.

Fire raged at the site for "several minutes" with huge lumps of frozen soil was thrown on either side of the river bank. The funnel is believed to have erupted due to a warming climate leading to thawing permafrost and the release of methane gas which has lain frozen under the surface for thousands of years. Professor Vasily Bogoyavlensky, Russia's leading expert on this recently-noticed phenomenon of blowout craters, cancelled his Black Sea vacation and rushed to the polar site.

SIBERIAN TIMES A new river funnel was formed after the explosion

He used a fishing line to measure the 165 ft depth of the new water-filled crater 20 miles from Seyakha village, the latest of a dozen holes that have suddenly pockmarked the Siberian Arctic.

The rocks are singed from the extreme heat A local witness

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Mikhail Okotetto told TV channel Yamal-region of a fellow herder who was close to the eruption. "The reindeer fled to the south, but he had newborn calf [in his hands],” he said. "So the reindeer and dogs all ran away, and he was just left there standing with the newborn calf."

Another local said: "It was like a new volcano exploding. "Of course there was no lava, but the rocks are singed from the extreme heat." Dr Anton Sinitsky, director of the Arctic Research Centre, was "shocked" by the force of the blast and witnessed "charred sand and grass" close to the crater. He expressed the fear that such methane eruptions "can pop up anywhere" in permafrost Yamal.

SIBERIAN TIMES Reindeer herders call scientists to the scene after the eruption

Alexander Mazharov, deputy governor of Yamalo-Nenets autonomous region, said it was vital to predict future explosions in a region that supplies natural gas to Europe. Towns and villages, industrial facilities along with pipelines and railways were all at risk, he warned. Some 700 sites where the ground is "bulging" or "swelling" have been identified as vulnerable to similar explosions, reported The Siberian Times. "It is very important for us also to know what to do because such an eruption can occur anywhere," he said.

Output: A methane explosion that created another sinkhole in the Russian Arctic peninsula has raised concerns that climate change could accelerate even more quickly than feared. The explosion occurred on 28 June on the Yamal Peninsula, which already has at least ten known sinkholes. Methane explosions could be a consequence of climate change, which causes permafrost to melt, releasing gas hydrates from the ground. Methane, a greenhouse gas, is over 25 times more potent than carbon dioxide in terms of heat-trapping capacity. Increased release of the gas thus threatens to speed up global warming.