BRITISH HERALD
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WHERE BRITAIN MEETS THE WORLD
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VOL 1 ISSUE 5 NOV-DEC 19
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China completes landing test for Mars mission in 2020
Flood, fire and plague climate change blamed for disasters
NOBEL PEACE AWARD WHY ABIY AHMED ?
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EDITOR'S NOTE
The UK Elections- Will Boris Sustain? Winter is coming. The UK Election campaigns are in full swing and people are all set to head out to the polls on the 12th of December to cast their vote. The competition is head-to-head and the two most likely candidates seem to be Boris Johnson and Jeremy Corbyn. Other parties are definitely in the picture too. So the question remains: Will Boris Sustain?
Brexit: Deal or No Deal? With controversy looming overhead at every turn of this election campaign, Boris Johnson's future seems a little uncertain. His first big speech as part of the campaign promised to boost regional industry and lead a clean energy revolution soon after the UK leaves the EU. Boris envisions a future Tory government doubling investments in high-tech research and development. Opposition parties expressed their opinion that Johnson’s plan could only result in bad outcomes and the Brexit deal that he has proposed appears flawed. The delay in the Brexit Deal which took place on October 31st may cost Johnson this election. He still stands his ground saying that he shall ‘absolutely guarantee’ that his government does not
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intend on extending the Brexit transition before the end of the year. The delay on the deal might result in Boris having to hand over the house keys of 10, Downing Street to a man who he believes possesses ‘vindictiveness not seen since Stalin persecuted the Kulaks’. Amidst the decision of whether the choice is down to Conservative or Labour parties, the British electoral system now sees only two forks in the road at this juncture- the reigning return of the Torys or handing over the reins to his radical and completely different socialist rival.
Will Labour (& Their Free Broadband) Win? British opposition Labour party has, not so long ago, with their announcement struck the right chord with the British people. They have identified a gap in the UK full-fibre broadband and Labour leader Jeremy Corbyn believes that it’s time to make the fastest free-for-everyone full-fibre broadband a reality. Using British Broadband as a public service, he envisions the UK transforming- people’s monthly bills reduce, the economy gets boosted and there will be an apparent improvement in the quality of life.
Johnson vs Corbyn Prime Minister Boris Johnson and Labour leader Jeremy Corbyn come from two parties of very disparate political traditions. Over the course of the next few days, as the campaign has started to gather momentum both parties intend to share their positive vision for Britain’s future and are looking for the platform and opportunity to elaborate their radical plans to the voters. The upcoming seven-way podium debate between all the parties, happening live from Cardiff, will be hosted by BBC on the 29th of November- let’s hope the voters will be able to finalise their choice by then. It’s all just a matter of time now.
Best,
ANSIF ASHRAF Managing Editor, British Herald ansif@britishherald.com
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CONTENTS
NOVEMBER-DECEMBER 2019 | VOLUME 01 | ISSUE 05
6
60
6 | NOBEL PEACE AWARD - Why Abiy Ahmed ?
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60 | Liam Gallagher wins first ever MTV Rock Icon award
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64
18 | British Herald Business and Leadership Awards 2019
26 | Take Five Flirting with zero
64 | Jennifer Aniston returns to TV with 'The Morning Show'
30 | ECB digital currency under way, progress possible next year
34 | Big products, big challenge IKEA brand invests in logistics
66 | New streaming TV services will make you wait
WHERE BRITAIN MEETS THE WORLD
ISSN 2632-8836
Managing Director & Group Editor-in-Chief Ansif Ashraf www.ansif.com, Senior Editor Ashly Christopher, Associate Editor Neha Nambiar, Creative Designer Sooraj SV., Contributors | Via Reuters Steve Gorman, Nichola Groom and Alex Dobuzinskis, Paul Sandle, Isla Binnie, Julie Zhu and Kane Wu, Sinead Cruise and Huw Jones, Edward Taylor, Matthew Stock, Josh Horwitz, Stephen Nellis, Kate Kelland and Julie Steenhuysen, Tom Miles, David Shepardson, Paul Lienert and Ben Klayman, Paresh Dave, Jayson Mansaray, Pascale Denis and Richard Lough, Sheila Dang, Jamie Freed, Paul Carsten and Alexis Akwagyiram, Emily G Roe IT & Support Jibin Thomas & Vinod Kumar Advertising & Sales Shameela Jabeen (advertise@ britishherald.com) Digital Marketing Adnan Niroukh Published by; HERALD MEDIA NETWORK LIMITED Company Number – 11289223, Registered Address: 156 Brompton Road, Knightsbridge, London SW31HW, England. United kingdom, T +44 20 8123 7074, M mail@britishherald.com W www.britishherald.com ©2019 Herald Media Network Limited. © 2019 BRITISH HERALD, as to material published in the U.K., All Rights Reversed. ©2019 Herald Media Network Limited, as to material., British Herald e-Magazine is published bi-monthly. Copying for other than personal use or Internal reference or of articles or columns not owned by BRITISH HERALD without written permission of Herald Media Network Limited is expressly prohibited.
Views and opinions expressed in this magazine are not necessarily those of Herald Media Network Limited, Its publisher and/or editor. We (at Herald Media Network Limited) do Our best to verify the information published, but do not take any responsibility for the absolute accuracy of the information. Herald Media Network Limited does not accept responsibility for any investment or other decision taken by readers on the basis of information provided herein. British Herald ® is published under a license Agreement with Herald Media Network Limited, 156 Brompton Road, Knightsbridge, London SW31HW, England. ‘’BRITISH HERALD’’ is a trademark used under license From Herald Media Network Limited.
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ABIY AHMED
COVER STORY
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Abiy Ahmed Ali
Former Army Intelligence Officer 4th Prime Minister of Ethiopia 2019 Nobel Peace Prize Awardee 6
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ABIY AHMED “It is a prize given to Africa, given to Ethiopia, and I can imagine how the rest of Africa’s leaders will take it positively to work on the peace-building process in our continent.”
COVER STORY
A ‘Nobel’ Honour On Tuesday, 10th December 2019 in the Oslo City Hall in Norway, the Nobel Prize Committee will be felicitating the Prime Minister of Ethiopia with the Nobel Peace Prize for his notable efforts in forging a peace deal and achieving international cooperation and peace between Ethiopia and its neighbouring country Eritrea. The Nobel Institute reiterated that, in 2002, Ahmed’s unequivocal willingness to accept the arbitrary ruling of an international boundary committee was an important premise for the breakthrough. He worked on the peace agreement with Eritrea’s President Isaias Afwerki to put an end to the conflict that has lasted for two decades. The two poverty and conflict-ridden countries have now ended the 20-year war which resulted in devastating effects. The young Ethiopian reformist and Prime Minister has become a distinguished figure for the cause of peace in the Horn of Africa, which is home to some of the most impoverished countries in the world. Abiy Ahmed emerged as the winner of the Nobel Peace Prize among 301 nominees. This number is the fourth highest in the 100-year history of the Nobel Peace Prize.
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COVER STORY
Russia-Africa Summit and Economic Forum in Sochi
If one had to start listing the reasons why Abiy Ahmed was nominated for the Nobel Peace Prize, it would range from his remarkable achievements in governance to his profound commitment to friendly border relations and peace among the nations in the Horn of Africa region. Ethiopia was at the precipice of a political and economic explosion, his reforms saved a nation 108 million strong and offered an embodiment of hope to an Africa that needed saving. His messages of tolerance, peace, love and understanding resonated far and wide- beyond just the borders of Ethiopia. When the nominations were submitted earlier this year,
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Abiy had been in office only for a period of nine months. His revolutionary methods surprised people worldwide as he took actions no one had expected-the political space had been opened up, the release of thousands of political prisoners was facilitated, invitations were extended to political groups labelled as ‘terrorist organisations’, the state of emergency was lifted, sealing a peace deal with Eritrea and appointing a gender-balanced cabinet to name a few- to encompass all that he did, it’s safe to say that he took several progressive steps making him a viable candidate to be awarded the Nobel Peace Prize. The economic integration plan started at a grass-root regional level
aiming to link the Horn of Africa region with better infrastructure through joint investment and vital strategic assets that are economically vital. This amelioration is focused on improving relationships between nations and communities among the frontline stakeholders of the region, finally resulting in peace and stability. This stellar suggestion, the brainchild of Abiy Ahmed, captured the attention and imagination of the Ethiopian people and other people in the region. The future of a peaceful and stable Ethiopia was only possible with the development of the Horn of Africa area as a whole. This required reconciliation
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BRITISH HERALD and a spirit of unity and understanding amongst the Horn of Africa’s countries. The establishment of a cabinet-level ministry to oversee federal law enforcement and a mandate to build peace was a priority for Abiy Ahmed. These domestic achievements were an important aspect of the bigger picture-his Nobel Prize nomination, in the words of the Nobel Committee, was “for his decisive initiative to resolve the border conflict with neighbouring Eritrea”. When Ahmed expressed his commitment to end the impasse as part of his inauguration speech, crowds largely dismissed the gesture as one that would barely carry weight- this may have been a reaction to similar commitments being made by his predecessors and their failure to follow through.
COVER STORY The ending of the “no war, no peace” state between Ethiopia and Eritrea was just the beginning- Ahmed also put in efforts to mediate between Eritrea and Djibouti, Eritrea and Somalia and also Somalia and Kenya. He also attempted to push the several factions in the South of Sudan to see peace and give it a chance. Following the expulsion of Omar AlBashir, Abiy Ahmed also pioneered the brokerage of a power-sharing deal between the Transitional Military Council and the opposition alliance in Sudan. The region is still an extremely unstable and volatile corner of the worldthe process of peacebuilding there requires a comprehensive restructuring and realignment among the regional actors. The unconditional acceptance of the terms of the Algiers Peace
Agreement and the Ethiopia-Eritrea Boundary Commission on Abiy’s part, against a great deal of internal opposition, resulted in the signing of a peace deal which normalised diplomatic relations, opened phone lines, restored border crossings and air travel and reunited several families affected by the senseless 1998-2000 war. What Ahmed did was worthy of a Nobel Peace Prize as not only did he terminate active hostility between nations but he made the security, safety and dignity of the people living in the area an important factor. The shift of focus towards the people was definitely a much-required step in the right direction for Ethiopia. Ahmed’s approach involved his considerable pragmatism, ethical and political commitment and involvement of stakeholders
“Love always wins. Killing others is a defeat, to those who tried to divide us, I want to tell you that you have not succeeded.”
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COVER STORY
Celebration for Ethiopia's PM Ahmed after he won Nobel Peace Prize in Ambo
to ensure the public good. For Abiy Ahmed, this Nobel Peace Prize comes with great responsibility- this honour is to be used to bolster his peacebuilding efforts.
Why Abiy Ahmed? The devastation of 19982000 Ethiopian- Eritrean border war extended to an estimated 100,000 deaths and it squandered the potential of development for an entire generation. Since 2000, incurring large expenses, being cornered into an unfortunate stalemate following a failed intervention from the United Nations and a border demarcation that remained unimplemented, arriving at peace didn’t seem to be a reality, possible in the near future, for both of these
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countries. This is where the 43-year old Prime Minister played an instrumental role in transforming the wartorn Horn of Africa region. His efforts were directed towards a landscape of building long-term peace. The Horn of Africa is home to some of the most impoverished countries in the world and Abiy Ahmed’s reformist effect has thrust Ethiopia and himself into the global spotlight. As is the case always, critics are quick to point out that this recognition came too early for the young reformist who has been the Prime Minister for just 18 months. His decisive initiatives orchestrated the transition towards peace and the resolution of the longstanding border conflict between Ethiopia and
Eritrea. His involvement in deeply protracted conflicts and the breakthroughs that he has made have been of paramount importance, over his tenure as Prime Minister. Within that short period of time, Ahmed has managed some real notable achievements.
‘Abiymania’: Hope or Hype? The young, democratic and dynamic leader who preaches peace that Ethiopia has been waiting for- can Abiy Ahmed live up to the ‘Abiymania’? Ever since he has been appointed as the Prime Minister in April, he has been quick to roll out one reform after another at a breathtaking pace. His popularity rose and the ‘Abiymania’ phenomenon
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gripped the African continent. All across the continent from Kenya to South Africa, his achievements are being celebrated and his actions have given millions of Ethiopians and Africans a sense of hope and optimism regarding the future of their country. With the swell of ‘Abiymania’, the country anticipates a phenomenon that can simply be put as ‘brain gain’. People are returning back to Ethiopia to become a part of Africa’s fastest-growing economy. On the other end of the spectrum, the main concerns that emerge regarding ‘Abiymania’ are based on a brief look at African history. In the past, a number of revolutionary African leaders who have preached of reform and democracy have led to disappointing the public who gave into their hasty optimism. And now, ‘Abiymania’ has gripped the nation.
Early Years- The Making Of A Nobel Laureate What has made Abiy Ahmed the person he is today? On slight introspection of his life’s story, it is apparent that three passions have inevitably come to define this Nobel Peace Prize laureate- his inclination and passion for education, his leadership qualities, and his aspiration and skills in conflict resolution. Abiy Ahmed (born Abyot Ahmed) was born on the 15th of August 1976 to Ahmed Ali and Tezeta Wolde in Oromia, Jimma region of Western
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“Peace, forgiveness and reconciliation (are) key components of his administration.”
Ethiopia. His father is an Oromo Muslim who, now well into his 80s, continues to be a respected member of the Beshasha community. His mother, on the other hand, was an ethnic Amhara who converted to Christianity. Being exposed to his country’s two major religions at a young age taught Abiy a lot about tolerance and diversity. Whenever there was violent unrest between the Christian and Muslim religious communities, Abiy directed his energy towards efforts of reconciliation through peace forums. Being mainly raised by his mother, he constantly highlights the role and influence of his beloved mother and the values she instilled in him throughout his childhood. She saw potential in her youngest son and envisioned him to grow up and do great things over the course of his life.
Education Throughout elementary and secondary school, the multilingual Abiy was a very focused student,
enthusiastic about constantly learning and bettering himself. When Abiy completed high school, with the fall of the Derg regime, he joined the military in 1993. In the military, he first worked as an intelligence officer and eventually rose to the rank of a Major to a Lieutenant Colonel. His first degree in computer engineering from Micro Link Information College (Addis Ababa) was earned in 2001 when he was part of the Ethiopian National Defence. Following the 1994 Rwandan genocide, Ahmed was deployed as a member of the United Nations peace mission soon after which he served in the Ethiopia-Eritrea border war. It was here that he realised a future in politics; his peers claimed that he displayed strong willpower and he was charismatic and credible personality. He was also widely accepted by members of the opposition parties. He went on to pursue a Masters of Art in Transformational Leadership a little later from the University of Greenwich. In 2013, he earned his MBA in collaboration with the Leadstar College of Management and Leadership. In 2017, Dr Abiy Ahmed Ali completed his doctorate from the Institute of Peace and Security Studies, Addis Ababa University and his PhD thesis was titled ‘Social capital and its role in traditional conflict resolution in Ethiopia; the case of intra religious conflict in Jimma Zone’. It explored themes focusing on conflict resolution in cases of intra religious cases close to his hometown Jimma.
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COVER STORY
Celebration for Ethiopia's PM Ahmed after he won Nobel Peace Prize in Ambo
Owing to his vast knowledge and experience in radio communications and information technology, Ahmed was handpicked to be a founder member of the cyber intelligence service Information and National Security Agency (INSA). They aimed to safeguard the country’s cyberspace, mould Ethiopia’s cyber power and offering insights on intelligence matters concerning national interest.
Political Inclinations Soon after heading the INSA, he made an advance into the spectrum of politics and not before long, rose to the ranks of the Oromo People’s Democratic Organisation (OPDO). He was soon elected
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as a member of the House of Representatives and over the course of the next six years, he was appointed to the rank of the Federal Minister of Science and Technology in Addis Ababa. After a short tenure of a year in this position, Ahmed returned to Oromia and took up the position of the OPDO Secretariat Head. In later 2015, he found himself at the centre of a violent illegal land-grabbing dispute in Oromia. At this juncture in his life, Ahmed was tasked with the mammoth task of guiding Ethiopia through the tumultuous political storm between Oromia and Somalia which has had its reins on the country since then. The fallout of the controversial ‘Addis Ababa Master Plan’ continues to this day but this transformed Abiy into one of the
central figures of a sense of Oromo nationalism. His involvement helped resettle the displaced Oromo people from Somalia. At the young age of 14, he showed an inclination towards politics and enrolled himself as a member of the Oromo People Party. Unable to control the unrest and resistance movements within the country, in February 2018, the then Ethiopian Prime Minister Hailemariam Desalgn resigned from this post and from the post of Chairman of EPRDF. This set off a domino effect of transformations in the Ethiopian political spherestarting off with the first-ever highly contested leadership race amongst the four major EPRDF coalition parties. At the end of this, Abiy Ahmed was appointed as the
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COVER STORY
Chairman of the EPRDF and became the Prime Minister of the country. He emerged as a Prime Minister when the nation was deep within the clutches of social, political and economic crises. His decisions were driven towards offering stability to a deeply shaken nation. Some of the methods he used to transform this were revolutionary- he dropped charges against the country’s opposition leaders and extended invitations to exiled journalists, politicians and religious leaders. What came next was an intense and rapid foreign policy of making peace with Eritrea to create a harmonious relationship among the leaders of the nations within the Horn of Africa. His optimistic mindset has driven the nation towards saving itself.
Ahmed’s Unexpected Yet Ineludible Rise To Power In 2017, apart from a few unassuming videos on social media, Abiy Ahmed was globally a rather unknown figure. His fairly simple yet authentic and powerful message of peace and togetherness ushered him into the scene with a bang. His message was distinct, it was based on local cultural and religious sensibilities- it stood out and lent a sense of optimism to the people of the region. The nation that Abiy inherited was one that was riddled with political disarray. The anti-government
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“This victory and recognition is a collective win for all Ethiopians, and a call to strengthen our resolve in making Ethiopia – the New Horizon of Hope – a prosperous nation for all.”
protests had resulted in the death of hundreds of people. Soon after Ahmed took office from Hailemariam Desalegn in April 2018, the political reforms came at a rapid pace. Abiy Ahmed put forward his conviction that bold ideas are what the country needs, not violence. Another notable achievement that Ahmed made sure of within his tenure was the championing of the role of women, especially in the country’s politics- now bringing up their share in the cabinet to 50%. Considering the tensions and complexities of Ethiopia’s political landscape, Ahmed’s rise to power along with the achievement of a more peaceful political course in the country is commendable. His political outlook is distinct and disparate from his party; resulting in opting for an internal transformation. He has remained within the system and still stuck to his belief systems; he has broken away from a powerful political machine and he promotes the notion
of ‘Medemer’ from within the party itself. Over the course of his time as Ethiopia’s Prime Minister, one of Ahmed’s biggest achievements has been bringing an end to the Ethiopia-Eritrea conflict. An example in successful international diplomacy, Ahmed has ended a decade-long conflict between two nations that share common cultures, language and ways of life. All it has brought the two poverty-stricken countries was immense misery, especially to those living on the border whose families were split by the war. With the signing of a treaty, the state of war between Ethiopia and Eritrea ended- a new era of peace, cooperation and friendship was declared owing to his efforts- and this is just the beginning. Regional politics was a priority of the Abiy Ahmed administration too- he was instrumental in bringing leaders of South Sudan and
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Ethiopia's PM Abiy Ahmed is received by South Sudan's President Salva Kiir at the Juba international airport, in Juba
Sudan to begin negotiating; he also mediated a maritime territory dispute between Kenya and Somalia. His popularity within Ethiopia is a given, his global recognition has blown up too- he’s greeted with the reception of a rockstar rather than a head of state.
within the first 100 days seems extremely promising, the speed with which he has executed his numerous innovative measures are nothing short of exceptional! Abiy Ahmed has often been rightly described as ‘one of the most dynamic and charismatic politicians to emerge in modern Africa’.
At A Glance
His actions were directed towards fostering and strengthening internal stability and he’s now emerged as a harbinger of optimism with regards to the future of the country for a majority of Ethiopians. His appearance on the front of Ethiopian politics was in the midst of a terrible longdrawn social and political crisis in the country. The enforcement of the marital law by the government for the second time in two
First 100 days as Prime Minister An insight into the stellar accomplishments that have happened since Abiy Ahmed has been sworn in into the position of Prime Minister of Ethiopia lends an outlook on how much can be done in a matter of 100 days. His performance
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years- with numerous demonstrations, roadblocks and conflicts taken to the streets and violence flaring up in the urban and rural areas. It advanced to the outskirts of Addis Ababa, interfering with public affairs on a daily basis. Despite the desperate involvement and attempt of EPRDF to curb the unrest which led to the resignation of the chairperson and the eventual election of Abiy Ahmed into the role following a tightly contested inter-party election. One of the primary objectives for Abiy Ahmed during his tenure was to stabilize the troubled Ethiopian nation. He made his way to local communities and his regional visits made apparent what was important to the people
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“Our women ministers will disprove the adage that women can’t lead.” of his nation. He donned local attires, delivered his messages in languages familiar to the people and followed their customs; his actions reflected a local need that had been overlooked so far. His visits focused mainly on the areas that were most affected by the anti-government demonstrations- he lent an ear and made sure that all voices across his nation were heard. The unconventional and disarming method of delivery of his message of peace and unity made a mark on the nation’s people and had a tangible impact on the people’s expectations of his leadership.
The Change Of Women’s Roles After Abiy Ahmed Another important modification that Abiy Ahmed made to his administration was to appoint women to half of the government’s ministerial posts. The Defense Minister, Minister of Peace and Finance Minister positions are a few of the ministerial
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COVER STORY posts in the Ethiopian government currently filled in by women. Equal gender representation has been adopted by Rwanda in the past and Ethiopia is now the only second African state to display the same. In addition to gender inclusivity, this new cabinet is also more ethnically diverse than ever before.
The Message Of ‘Medemer’Ahmed’s Approach To Peacemaking Medemer which translates to “addition” or “synergy” in Amharic, is a concept that Abiy Ahmed believes is pivotal to driving development in Ethiopia in the right direction. It is focused on building on the rich heritage of the country and adding to that to build up a favourable future for the country. In his book, Abiy Ahmed goes on to further elaborate on the Medemer concept. He draws parallels between Medemer and the principle of BODMAS in Mathematics. In BODMAS, the first thing to get rid of is the brackethe compares this to the wall of hate which must be destroyed. He also explains that the Medemer concept is so much more than just mathematics as ‘you’ and ‘I’ adds up to become ‘we’ in this scenario. There’s an aspect of subtraction tooelimination of trespassing, evil, resentment, laziness, dishonesty and hate are pivotal. The weapons used to apply this are mercy, forgiveness, love and compassion. Division comes in the form of dividing or
sharing kindness, wisdom, love and money.
The Process Of Democratisation The government led by Dr Abiy Ahmed initiated a process of democratisation with assurances and promises of a democratic election in May 2020. This process began with the appointment of a member of an opposition party previously listed as a terrorist group, an open space for participation and competition wherein anyone can speak about politics in public without fear of detention. He has also ensured that the regional governments get full autonomy. This process is an ongoing one but it is a step in the right direction. For a country that has never experienced democracy before, a lot of effort is necessitated.
Ethiopia’s FutureAhmed’s Vision At age 42, Abiy is the youngest leader across Africa. He intends on showcasing Ethiopia’s fascinating history by building a digital museum, a mini-Ethiopian theme park and a zoo with approximately 250 animals. He anticipates a footfall of thousands of paying visitors on a daily basis. These claims following his remarkable work done over the course of his time in the office are the swiftest delivered political liberalisation efforts in Ethiopia’s 2000-year history.
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2019 BUSINESS LEADERSHIP
AWARDS HIGHLIGHTS
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Sadiq Khan
London Mayor
AWARDS
Gopichand Hinduja Hinduja Group
Lord Rami Ranger Sunmark Group
Business and Leadership Awards 2019 A host of influential business leaders, international dignitaries and celebrities came together for the British Herald Business Leadership Awards which were held within the UK for the first time at Rosewood Hotel, on 11th October 2019. London Mayor Sadiq Khan was honoured ahead of the celebratory evening for his ‘Outstanding Contribution to Society.’ HRH Princess Katarina, singer Kanika Kapoor and British actor Preeya Kalidas amongst others were in attendance to show their support.
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200+
Conference Participants
100+
CEOs/Presidents in attendance
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Karen Millen
AWARDS
Kanya King
Fashion Designer
MOBO Awards
In aid of
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Ali Fazal Actor
Held in aid of Macmillan Cancer Support, British Herald hosted a stunning gala dinner. The dinner was the attention of leading figures across several industries and fast gaining celebrity support from the United Kingdom alongside professionals from Macmillan Cancer Support. The evening was also an opportunity to raise awareness and funds for cancer charity Macmillan who partnered with British Herald.
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Business and Leadership Awards 2019 facebook.com/britishherald
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Business and Leadership Awards 2019 facebook.com/britishherald
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COVER RELEASE
London: The British Herald Magazine featuring Jack Ma on the cover was unveiled by the Mayor of London, Sadiq Khan.
The City Hall, London
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ECONOMY
UK shoppers unexpectedly rein in spending, adding to slowdown signs in economy Until recently consumers appeared to have largely taken Brexit in their stride, helped by weaker inflation and stronger growth in wages. That has aided the world's fifth-biggest economy at a time when many companies have been cutting back on investment because of uncertainty about Brexit.
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ritish consumers, whose spending has helped the economy through the Brexit crisis, cut back on their shopping in October, according to official data which added to signs of weak overall economic growth. In the three months, sales rose at the weakest pace in a year-and-a-half, said the office for National Statistics. Monthly retail sales volumes unexpectedly fell, down by 0.1%, compared with a median forecast for 0.2% growth in a Reuters poll of economists. Compared with October 2018, sales were up by 3.1%, again weaker than the Reuters poll forecast of 3.7%.
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Looking at the three months to October as a whole, the ONS said retail sales rose by 0.2% compared with the previous three-month period, the weakest rise since the three months to April 2018, and were 2.9% higher than a year before. "Department stores rebounded in October, driven by promotional events and an earlier introduction of Christmas lines," an ONS spokesperson said. "However, their sales still remain significantly down over the longer term." The figures contrasted with a survey by an industry group, the British Retail Consortium, which showed a pick-up in spending last month, though its measure of average sales growth over the past year was weak too.
Below-target inflation, the strongest rise in wages since 2008 and some of the lowest unemployment rates since the mid-1970s have continued to boost household incomes, although wages are still lower than before the financial crisis once inflation is taken into account. But there have been signs that consumers are turning more cautious as Britain's political crisis drags on and an election approaches on Dec. 12. Supermarket group Sainsbury's said last week that it expected to trade well in the run-up to Christmas but feared a consumer hangover in early 2020 if Brexit is unresolved. Baby products retailer Mothercare is set to close its British stores with the loss of at least 2,500 jobs under the weight of the pressures plaguing the retail sector, including online competition.
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ECONOMY
Take Five Flirting with zero
and Austrian 10-year yields too are flirting with the zero mark. But are we just seeing another 'bond tantrum' that will soon peter out, like for instance the Bund selloff in April 2015? It's true that sub-target inflation and deeply negative interest rates in the euro zone, Japan and elsewhere mean negative yields won't vanish any time soon. Above all, some governments such as Germany, still oppose increasing state spending to boost growth.
1/Back to Zero Few people will be brave enough to call the end of the 30-year bond bullrun, but the idea that sub-zero borrowing costs may not be around forever is one people are increasingly willing to entertain. Upbeat economic data, signs of a trade war truce
and above all, central banks' clear reluctance to cut interest rates further have shrunk the global negativeyield bond pool to $12.5 trillion from $17 trillion. In Europe, Germany's long-dated government borrowing costs rose above 0% recently while 10-year yields are up 50 basis points from lows. Finnish, Belgian
So money managers will be wary of slashing bond exposure. They will be aware though, that at such low yields, even small moves up will send bond prices crashing, risking big losses on their portfolios. Several countries from Germany to Japan will release thirdquarter growth data in coming days -- a robust set of figures could push yields further towards zero.
2/Inflation, Where Art Thou? The Fed lowered interest rates a third time even with the economy plugging along in OK shape. So what gives? The real concern is inflation -- too little, not too much! The string of quarter-point insurance cuts comes amid concerns about a global slowdown spilling over and is meant to counter low inflation, which keeps rates down and reduces the Fed's ability to fight the next downturn. Underneath it all lurks the spectre of disinflation, or demand-
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ECONOMY
Adding to that enthusiasm among business and investors are news headlines on gradual progress towards some sort of U.S-China trade truce. But details remain scarce and, in fact, there isn't much to cheer in China.
crushing Japan-style deflation. Followed by Fed chairman Jerome Powell's appearance before the congressional joint economic committee. Core year-on-year CPI is expected at 2.4% and headline at 1.7%. But the Fed's favourite measure of core personal consumption expenditures is running around 1.6% - hovering mostly below the 2% target since pre-financial crisis.
3/Fair Trade The weekend brings to a close the annual China International Import Expo in Shanghai, where American companies turn out in force. A raft of global investors at the Reuters 2020 Investment Outlook Summit declared unwavering keenness to stay invested in a market that has done extremely well in 2019 and is expected to do just as well in the coming year.
October is seasonally weak because of the long National Day holiday, and recent data showed the trade war continues to take a toll on exports and demand. Economic growth has slipped to its weakest in three decades, forcing the central bank to make its first rate cut in nearly three years and pump cash into markets. Key data on lending, investment and inflation are due in coming days. Even as the hubbub over another regional bank run fades, investors expect to get proof that bank lending and social financing deteriorated further, inflation remained high on rising pork prices and investment in factories was depressed.
The Fed signalled it may wait into 2020 to cut again. Chicago Fed President Charles Evans said rising inflation expectations are key. It looks like an uphill battle given consumer inflation expectations are declining even though wages are ticking up. October 2019 retail sales and industrial production data will shed light on whether the consumer can continue to drive growth in the face of a struggling manufacturing sector and months of trade tensions.
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ECONOMY meet in Brasilia for their 11th summit. Accounting for a third of world GDP, the bloc has evolved into a political organisation, which also has its own development bank.
4/When Donald Met Tayyip
as genocide has rankled Ankara.
Turkey's President Tayyip Erdogan is heading to Washington for a powwow with his U.S. counterpart, Donald Trump on Wednesday. The two have plenty to discuss: Engagement, or disengagement, of Turkish and U.S. forces in northern Syria and related bilateral agreements, as well as Ankara's purchase of Russia's S-400 missile defence system, which under U.S. law should trigger sanctions.
The two men are said to have a strong bond, according to Turkish sources. The lira - a weathervane for Turkey's economic outlook but also for the state of its geopolitical relations, especially with Washington is on track for an 8% tumble in 2019, its seventh straight year in the red.
Then there is a U.S. court case against stateowned Halkbank over evading sanctions in Iran. Meanwhile, a U.S. House of Representatives' vote to recognise mass killings of Armenians a century ago
Those personal ties could prove crucial to Erdogan who seems adept at managing his relationship with the man at the helm of its largest NATO ally but may face much more hostility from the U.S. legislative branch.
5/ Brics Bash Leaders of Brazil, Russia, India, China and South Africa
It's been a long road since Goldman Sachs' analyst Jim O'Neill coined the term BRIC in 2001 to describe a grouping of the four biggest emerging markets. The term has evolved from a catchy acronym to an investment concept spawning dozens of funds managing around $25 billion at their peak. Most BRIC funds have since quietly closed, but the countries themselves have adopted the grouping -- only it's BRICS now, with the addition of South Africa. Times are tough though. China is mired in a trade war that's damaging its export-reliant economy and India's credit rating has been cut by Moody's on worries about growth and the banking sector. Russia's economy is semi-stagnant, under U.S. sanctions and locking horns with Turkey for domination of the Middle East. Brazil, just emerging from a brutal recession, is struggling to pass vital reforms. South Africa, with anaemic growth, risks losing its investmentgrade credit rating, cutting access to precious investment. The upcoming summit is to focus on "economic growth for an innovative future". Given all the problems the quintet face, innovation may be key.
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ECONOMY
European shares slip, Daimler drags on Germany
E
uropean shares dipped lower in early trade, as a drop in Daimler shares and lacklustre economic data from Asia as well as Europe, checked any gains from a handful of positive corporate updates. By 0819 GMT, the panEuropean STOXX 600 index fell 0.2%, with German shares dropping 0.4%. Daimler slumped more than 3% after the German carmaker said tougher emissions rules will hit earnings in 2020 and 2021,
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forcing it to seek more than 1 billion euros in personnel cuts at Mercedes-Benz Cars by end of 2022. Earlier, data showed Germany's output grew 0.1% in the third quarter compared with the previous three months, defying investors expectation that Europe's economic powerhouse will slide into a recession. However, the numbers were not strong enough to dispel growth fears as China's factory output growth slowed significantly more
than expected in October and Japan's economy ground to a near standstill. Shares in genetic testing company Qiagen shot to the top of the STOXX 600, jumping 12.4% after Bloomberg reported scientific instruments maker Thermo Fisher Scientific had approached company about a potential deal. British luxury brand Burberry's shares rose 8.7% after it said the popularity of collections by designer Riccardo Tisci boosted sales in its second quarter.
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FINANCE
Work on ECB digital currency under way, progress possible next year The ECB official said several options were being studied. Under the most ambitious plan, users of the new digital coin could open bank accounts directly at the ECB. That would cut transaction costs but would make existing banks and payment services largely redundant.
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rogress on the feasibility of a digital currency backed by the European Central Bank could be made in the coming months, said the senior officials, cautioning that the project faced challenges and was for the long term. Plans for a European public digital currency have begun emerging after social media giant Facebook announced in June its blueprint for Libra, a private digital currency, which spooked regulators who have since raised concerns and said Facebook's project could be banned. A public cryptocurrency would represent an alternative to Libra and other private projects, and could reduce costs of international transactions, which EU officials see as too high.
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Acknowledging it would take time to develop a European public version of Libra, French Finance Minister Bruno Le Maire told a news conference in Brussels: "The fact that it is for the long term does not prevent us from working and having results next year." An ECB official told Reuters the euro zone's central bank was already working on the technical aspects of a digital currency and would present clarifications to European Union governments soon. EU finance ministers discussed the issue at a meeting in Brussels and are set to adopt a joint statement welcoming the ECB's work on the topic at their next gathering in December. The EU's finance commissioner Valdis Dombrovskis said Libra was a "wake-up" call that showed there are gaps in the offer for cheap and fast cross-border payments in Europe.
Under a less radical option, banks could be given electronic cash or tokens by the ECB which they could then distribute to their clients, the official said, stressing that work was under way and that several technical and legal challenges remained. The ECB's policymaking Governing Council will meet under the presidency of Christine Lagarde, who replaced Mario Draghi. The official said that meeting could address the issue of a public digital currency in a session dedicated to future challenges. The debate is at this stage focused on whether a public cryptocurrency is feasible or desirable, the official cautioned.
DOOM LOOP In separate comments, Le Maire backed proposals from Germany's Finance Minister Olaf Scholz to link progress on a Europe-wide bank
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FINANCE
Johnson says Brexit transition period will not be extended deposit guarantee scheme to banks' reduction of their exposure to sovereign debt. "It is not good that banks, be them German, Italian, French or Spanish, are too exposed to the sovereign debt of their country," Le Maire said, stressing these holdings should fall before the EU could implement a joint insurance scheme for savers. Existing national schemes in the 28 EU states cover deposits up to 100,000 euros (86,147.6 pounds), but they may not be sufficient in the event of large banking crises.
Le Maire's comments are likely to irk Italy, whose banks hold large chunk of the country's huge public debt. Italian Finance Minister Roberto Gualtieri made it clear that Rome could not support Scholz's proposals. A French official said France had concerns about Scholz's idea of giving a score to national debt holdings, which would make Italian or French debt more expensive for banks to keep on their balance sheets.
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rime Minister Boris Johnson said Britain he will "absolutely guarantee" that his government will not extend the Brexit transition period before the end of year. "I don't want an extension," Johnson told the BBC. "If we can get a working majority, all we need is 9 more seats, then can absolutely guarantee" not seeking an extension.
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November-December 2019
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POLITICS
UK spending plans, Brexit paralysis put rating at risk - Moody's because of the "significant challenges" of reaching a future trade deal with the bloc, it said. Any signs that Britain was unable to replicate the benefits of EU membership with trade deals in Europe and beyond would also be negative for the rating.
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oody's warned on Friday it might cut its rating on Britain's sovereign debt again, saying that neither of the main political parties in next month's election was likely to tackle high borrowing levels which Brexit had made even harder to fix. In a toughly worded statement, Moody's said the fissures in Britain's society and politics exposed by its still-unresolved decision to leave the European Union would be long-lasting. "It would be optimistic to assume that the previously cohesive, predictable approach to legislation and policymaking in the UK will return once Brexit is no longer a contentious issue, however that is achieved," the ratings agency said. Moody's said Britain's 1.8 trillion pounds ($2.30 trillion) of public debt - more than 80% of annual economic
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output - risked rising again and the economy could be "more susceptible to shocks than previously assumed." Both of the main political parties have promised big spending increases ahead of next month's election. "In the current political climate, Moody's sees no meaningful pressure for debt-reducing fiscal policies," the ratings agency said. Prime Minister Boris Johnson called the Dec. 12 election in an attempt to break the deadlock over how, and even if, the country should leave the EU, more than three years after the Brexit referendum. Moody's said the "increasing inertia and, at times, paralysis that has characterized the Brexitera policymaking process" showed how the UK's institutional framework has diminished. Even once Britain was out of the EU, uncertainty would remain
Moody's, which stripped the country of its AAA rating in 2013 and downgraded it again in 2017, said it was lowering the outlook on Britain's current Aa2 rating to negative from stable, meaning the rating could be cut again. At Aa2, Britain is on the same level as France but below Germany's AAA rating by Moody's. Moody's said the government, after reducing a budget deficit which leapt to 10% of GDP in 2010, had been increasingly willing to "move the goalposts" on making further progress. "Successive governments have announced large, permanent increases in public expenditures, most notably a large increase in spending on the National Health Service, outside the normal calendar for fiscal policy changes and without detailed policy plans," it said. Ratings agency Standard & Poor's said it would cut Britain's AA credit rating if the country leaves the EU without a deal, and it, too, warned that Brexit indecision was causing government paralysis.
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BUSINESS
WeWork data shows growth still doubling to September 2019 under Neumann. A 90-day game plan included reducing headcount in administrative operations, WeWork's venture capital arm and in growth-related functions, a likely reference to the teams dedicated to designing and constructing new office sites. No numbers were provided for layoffs. Marcelo Claure, the SoftBank executive who was named chairman of WeWork, has said layoffs are expected but has not said how many.
W
eWork owner The We Company disclosed data that showed expansion of its office-sharing business was almost doubling in size from a large pipeline of leases even as the moneylosing company plans to slash costs and reduce its headcount. WeWork divulged a presentation it gave prospective creditors about two weeks before SoftBank agreed to a $9.5 billion (ÂŁ7.44 billion) bailout to keep the company afloat before cash on hand was expected to run out some time. The data showed that as of the third quarter WeWork planned to add 450,000 desks through leased locations that have not yet opened, which would represent almost a doubling in size from the
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520,000 desks already up and running. The Oct. 11 presentation said that "despite the noise," an allusion to the intense media focus after We withdrew its plans to go public, "we have continued to perform." The 49-page presentation highlighted changes underfoot to emphasize a renewed focus on WeWork as its core business. The presentation also showed the company distancing itself from the much-criticized leadership of co-founder Adam Neumann, who relinquished control under the deal with SoftBank. Going forward WeWork plans a "disciplined focus on profitable market-share expansion" instead of growing the business "prior to funding commitments," which the presentation said occurred from 2017
The presentation said WeWork plans to divest seven non-core businesses - Conductor, the Wing, Managed by Q, Meetup, SpaceIQ, Teem and Wave Garden. The units organize meetings, provide facilities and workplace management, and marketing. The presentation also said plans divulged to investors to close RISE, the company's wellness centers, are now under reevaluation. Just over half of WeWork's Naked Hub locations in China were what the company calls mature, or sites that have been open for more than 24 months, yet China's occupancy rate was only 76%. WeWork shelved its plans to go public after investors grew wary of its losses, business model and corporate governance. Neumann had resigned.
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Big products, big challenge IKEA brand owner invests in logistics
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The owner of the IKEA furniture brand expects sales to grow this fiscal year as online trade expands, but profits will be tempered by increased investment as the brand battles web specialists like Amazon and Made. com.
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BUSINESS As a result of the online shift, costs for packaging and logistics are rising substantially for Inter IKEA Group, which supplies goods to its franchisee stores around the world, Chief Financial Officer Martin van Dam told. "The logistics challenge for us is, of course, big. We're shipping big products," he said in an interview. "We are looking at how we can change flows - we have a team looking at how can we more efficiently move our goods around. And that means investments." The finance chief did not put a figure on the company's overall investment plans beyond saying it would top the total from its last fiscal year, the 12 months to August when it grew to about 175 million euros (ÂŁ150.8 million or $193 million). Inter IKEA is a franchisor to store owners, of which INGKA Group is the main, and is also in charge of product development and
supply. It generates the bulk of revenues from sales of goods to its retailers and around 5% from franchise fees. The company said it expected sales to grow this year, without specifying any figures, and van Dam said it would lower prices to its store owners as raw material costs had eased from high levels, without giving more details on pricing this year. The CFO was speaking after the unlisted group reported a 5% increase in pretax profit to 1.8 billion euros ($2.0 billion) in its last fiscal year, as revenue held up while higher investments and a jump in online-related costs squeezed margins. The gross margin narrowed in the year to 18.0% from 18.8%, and the operating margin to 7.3% from 7.9%. Aside from logistics, IKEA is investing in new store formats and extra services such as furniture delivery and assembly.
After decades of rapid growth, the world's biggest furniture brand is battling to adapt to new shopping habits and the rise of online rivals, while trying to maintain its hallmark affordability amid high raw material and other costs.
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November-December 2019
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BUSINESS
Uber faces costly choices after expert finds it uses Waymo self-driving tech
expressed confidence that the company had not used Waymo's proprietary information in its hardware or software. But by this April, weeks ahead of its initial public offering, Uber disclosed that the expert software reviewer's interim findings were mixed and could be costly. Waymo had alleged in court filings in 2017 that Uber was "misappropriating two, highly valuable Waymo trade secrets related to planner software," which processes data from sensors on the vehicle and controls its movement.
U
ber said it "will likely" have to strike a licensing deal with Waymo or opt for costly changes to its autonomous driving software, after an expert found the ride-hailing giant still used technology from the Alphabet Inc unit.
reached in February 2018 that brought to an abrupt halt a federal jury trial over whether the company unfairly benefited from confidential ideas allegedly secured by making former Waymo engineers key members of its self-driving car team.
While it was unclear by when the company needed to decide on its next move in the blockbuster trade secrets dispute, Uber, in a quarterly securities filing, said that a detour in its software development "could limit or delay our production of autonomous vehicle technologies."
Waymo began as a project within sister company Google a decade ago, while Uber launched its effort four years ago. Uber declined to give details beyond its filing.
Uber has been racing to catch up to Waymo in the development of software and hardware to install in cars and trucks to allow for driverless taxi and delivery services. The expert review of Uber's software was part of a legal settlement
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Waymo told Reuters in a statement that the independent software expert's findings "further confirm Waymo's allegations that Uber misappropriated our software intellectual property. We will continue to take the necessary steps to ensure our confidential information is not being used by Uber." Last year, Uber Chief Executive Dara Khosrowshahi had
Uber shares have tumbled about 40% since their market debut in May amid big quarterly losses as it spends heavily on marketing. Its self-driving venture has also faced other challenges. The United States National Transportation Safety Board in a recent report there were software flaws in an Uber self-driving test vehicle that struck and killed an Arizona woman in the middle of a road last year. Still, the Uber unit drew a $1 billion investment in April from SoftBank Group Corp, Toyota Motor Corp and automotive company Denso Corp. Last year's settlement also gave Waymo a 0.34% stake in Uber, worth about $245 million based on Uber's $72 billion valuation at the time. It is unclear if Waymo still holds those shares. Waymo this year began a limited robo-taxi service in Arizona.
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BUSINESS
Alibaba hires more banks on up to $15 billion listing
A
libaba Group will carry out Hong Kong’s first paper-less stock market listing with its $13.4 billion share sale, according to a source with knowledge of the matter, ending the longheld tradition of Hong Kong investors queuing in bank branches to place stock orders.
Hong Kong is gripped by increasingly violent civil unrest, many shops in the financial district closed early or did not open, while the government closed all schools.
The decision to fully automate the retail subscription component of the deal comes as
The source was not authorized to speak to the media on the matter, and so
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Alibaba does not plan to print a paper copy of its 661page prospectus, lodged with the Hong Kong Stock Exchange night.
declined to be named. An Alibaba spokeswoman declined to comment on the company's listing plans. The Hangzhou-based online ecommerce giant will invite retail investors to subscribe for shares. The initial allotment for retail investors will consist of 12.5 million shares, or 2.5% of the new stock to be issued as part of the Hong Kong listing, according to a term sheet.
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BUSINESS
Alibaba hires more banks on up to $15 billion listing
according to three sources with direct knowledge of the matter. The online Chinese retail giant has appointed Citigroup, JP Morgan and Morgan Stanley to work on the deal, as was first reported by Bloomberg. The deal is being led by China International Capital Corporation (CICC) and Credit Suisse, with the company due to face a Hong Kong Stock Exchange listing committee hearing this coming Thursday, Nov. 14.
A
libaba has extended its investment banking syndicate as it works
towards a $10 billion to $15 billion listing in Hong Kong at the end of the month,
Bluegem Capital buys back UK retailer Mamas & Papas
Alibaba, JP Morgan and Morgan Stanley representatives declined to comment on the appointments. A Citigroup spokesman also declined to comment.
Mamas & Papas sells pushchairs, car seats, furniture, clothing and other nursery products. Deloitte said the retailer was sold through a pre-pack administration to Bluegem Capital Partners, which ultimately owned the parent company Mamas & Papas Group. A pre-pack administration enables the company to sell itself or its assets before it appoints administrators who take over the running of the business to protect creditors.
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ritish nursery retailer Mamas & Papas Retail was sold to private equity firm Bluegem Capital Partners, administrator Deloitte said, leading to the shutdown of six loss-making stores and 73 job losses. The news comes three days after baby products retailer Mothercare said it would shut all its British stores.
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Mamas & Papas is the latest retailer to go under. House of Fraser and Debenhams have also been placed in administration.
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BUSINESS
GoPro quarterly revenue beats on 'Hero' camera demand, shares rise
G
oPro Inc beat analysts' estimates for third-quarter revenue, boosted by demand for its new Hero camera, sending its shares up 11% in after-market trading. Through its flagship "HERO" line, the company is trying to differentiate its premiumpriced offerings from smartphones with improved cameras, as it looks to lure back action junkies.
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GoPro launched two new cameras including a ramped up version of its HERO line.
estimates of $126.4 million, according to IBES data from Refinitiv.
"Both products (HERO8 Black and MAX) appear to be unquestionable hits with consumers and we're optimistic about their impact on our business going forward," Chief Executive Officer Nicholas Woodman said.
The company's net loss widened to $74.8 million, or 51 cents per share, in the third quarter ended Sept. 30, from $27.1 million, or 19 cents per share, a year earlier.
The action-camera maker's revenue fell about 54% to $131.2 million, beating
Excluding items, the company lost 42 cents per share, smaller than the expectations of a loss of 48 cents.
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E-COMMERCE
EU's Vestager says Apple Pay has prompted many concerns
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pple Pay has attracted regulatory scrutiny as a result of several expressions of concern about the U.S. tech giant's mobile payment service, Europe's antitrust chief said. Margrethe Vestager's comments come after an EU questionnaire, showed EU regulators had asked online merchants whether they had been told to use Apple Pay instead of competing services. "We've been asking quite a number of questions because we get many many concerns when it comes to Apple Pay for pure competition reasons," said EU Competition
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E-COMMERCE Apple Pay, which was launched in 2014 and is available in more than 50 countries including over 20 EU member states, marks Apple's diversification from sales of devices like iPhones and iPads. Apple has previously said its payment system offers the safest solution in the market, as shown by the thousands of banks using it, and that iPhones offer users a choice of payment options, including credit and debit cards and bank apps. Vestager, who retains the competition portfolio in the new Commission due to start work, has gained a reputation as a tough enforcer especially against tech companies, handing out hefty fines and ordering them to change their practices.
Commissioner Vestager, without specifying who had expressed concern. "People see it becomes increasingly difficult to compete in the market for easy payments," she told a news briefing at the Web Summit tech conference in Lisbon.
might investigate Apple Pay if there were formal complaints. At least one party has gone to the European Commission with its grievance, two people familiar with the matter.
In the next Commission she will have an expanded mandate which could see her take a more proactive role, including introducing new legislation to govern the technology sector.
In an interview with Reuters last year, Vestager said she
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November-December 2019
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E-COMMERCE
China mobile payment giants Alipay, WeChat open to international cards international cards by Visa, MasterCard, American Express, Discover Global Network and JCB to their accounts. U.S. digital payment company Visa Inc said "This partnership means that we’ll be working towards an environment where Visa cardholders will be able to use their Visa card in China at the millions of places where WeChat Pay is accepted." Mastercard said in a statement that it saw this as a move to expand choices for travelers with Mastercard cards.
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hina mobile payment giants Alipay and WeChat Pay have started allowing overseas users to link their accounts to international bank cards, in a move cheered by foreign payment firms like Visa and Mastercard. The moves came during a major import fair in Shanghai aimed at showcasing the country's free trade credentials. Tencent, the parent company of WeChat Pay, said it was opening up in a statement on one of its official websites, while Alibaba-backed Alipay announced the change on
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its official media service platform. A significant portion of transactions in China are made through the platforms, which previously only accepted Chinese bank accounts. Users use Alipay and WeChat Pay for daily tasks such as paying bills, buying groceries or booking taxis. "The inconvenience of not being able to use the widely adopted local mobile payments is becoming a major pain point for overseas people living in or visiting mainland China," Tencent said in an e-mailed statement. Both platforms will now allow users to link
China has long been dogged by allegations of protectionism, a practice that has floored attempts by foreign payment firms to access what will be the largest bank card market by 2020. American Express Co last year won approval to clear card payments in China, becoming the first U.S. card network to gain direct access. State newspaper Beijing News reported in January that Mastercard Inc had submitted application materials in 2017 but voluntarily withdrew its application in June 2018. Chinese media reported in March that Mastercard had resubmitted its application. Mastercard declined to comment.
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E-COMMERCE
SoftBank-backed Banco Inter launches app linking clients to stores from the third-party vendors on the app with its clients in the form of cash-back rebates. The commissions will also provide the bank a new revenue stream. Some analysts still doubt whether such multi-function apps, widely used in China and elsewhere in Asia, will catch on in Latin America's largest economy. "A bank's app is one that people use more recurrently," he said. "So we believe clients will buy products and services through Inter's app. It will prove to be easier."
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razilian midsized lender Banco Inter SA launched a smartphone app offering clients direct access to more than 60 stores selling products from appliances to sneakers to beauty products. The launch marks Banco Inter's latest move beyond its existing free checking accounts to lure more clients and increase profitability by becoming a one-stop shop for everything. Among its retail partners are Alibaba's AliExpress, Lojas Americanas SA, Natura Cosmeticos SA, Nike Inc, Carrefour Brasil and HP Inc. Chief Executive Joao Vitor
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Menin said in an interview with Reuters that he expects the so-called super app to help the bank attract new clients, either at a faster pace or at a lower cost.
Banco Inter posted on Wednesday a 38.1% drop in third-quarter net income from a year earlier, to 11.8 million reais, as expenses rose at a faster pace than revenues.
Menin said the bank could reach roughly 8 million clients by December 2020, more than double its current 3.3 million consumers. The lender, in which SoftBank Group Corp bought a 14.9% stake earlier this year, will share a portion of commissions
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AVIATION
Boeing drops automation system used to build 777 jets
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oeing Co has abandoned a key automation system used to make fuselage sections for its 777 jetliners amid reports of reliability issues, and will instead partially switch back to mechanics, the planemaker said. The company began to build 777 fuselages in 2015 in an upright orientation, with robots drilling holes and installing fasteners, an initiative known as fuselage automated upright build (FAUB). The world's biggest planemaker said it had stopped using the system which, according to industry sources, caused problems
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with reliability and rework issues. Boeing had faced delays last year when the FAUB machine was tried out on existing versions of the 777. Instead, the company will switch to "flex tracks" - an automated method to drill the holes along the circumference of the airplane that are then fastened manually. The system was developed by Boeing Commercial Airplanes and has been tested in commercial and defence programs, company spokesman Paul Bergman said in an emailed statement. Implementation of flex tracks for the 777 fuselage began
in the second quarter and Boeing expects the transition to be complete by the yearend, Bergman said. There are no planned changes in total staffing and the company continues to implement robotic systems on areas such as wing manufacturing for the 777X. The setback highlights continuing pressure on the company's management at a time it is trying to obtain approval to return its grounded 737 MAX jetliner to service before the end of this year. The change in production strategy for the 777 was reported earlier by Bloomberg.
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AVIATION
EasyJet, Jet2.com buy Thomas Cook's UK airport slots
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ritish budget airlines easyJet and Jet2.com have bought the take-off and landing slots of failed travel company Thomas Cook at London Gatwick and Manchester airports, respectively. Thomas Cook's UK business and airline went into immediate insolvency when the company collapsed, and a court appointed an official receiver to liquidate its assets. EasyJet bought Thomas Cook's slots at London
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Gatwick and Bristol airports for 36 million pounds, while Jet2.com, owned by Dart Group bought slots at Manchester, Birmingham and Stansted for an undisclosed price. London Gatwick and Manchester had been Thomas Cook's main UK bases, and the liquidators have now sold all the available slots in Thomas Cook's UK portfolio. EasyJet acquired 12 of summer slot pairs and 8 winter slot pairs at Gatwick, plus six summer slot pairs and one winter slot pair at Bristol, in the deal. The airline
added that contractual terms had been concluded. Hays Travel bought Thomas Cook's network of British travel agent shops, while China's Fosun, which had been the largest shareholder of the group, bought the Thomas Cook brand. The collapse of Thomas Cook, the world's oldest travel company stranded tens of thousands of passengers as its UK business immediately stopped trading. Its Nordic business was rescued, while its German airline Condor is still operating.
November-December 2019
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AVIATION
Work on ECB digital currency under way, progress possible next year
A
mazon.com Inc Chief Executive Jeff Bezos has plans to slash greenhouse gas emissions from the online retailer's delivery operations. Yet the company's use of airplanes - the most climate-damaging mode of transportation - is on the rise, according to data provided to Reuters. Amazon Air's U.S. volume has risen steadily since its 2016 launch, according to an analysis of Department of Transportation data by Cargo Facts Consulting, a Luxembourg-based advisory firm with a global staff and more than four decades of history. It crunched data from Air Transport Services Group Inc and Atlas Air Worldwide Holdings. Both supply planes and pilots for Amazon Air. In July, Amazon Air flew 136 million lbs of goods in the United States, according to the data. That was up 29% from the year earlier and just 9 million lbs short of December 2018, when the peak holiday shipping season was in full swing. Bezos has said Amazon will cut its use of airplanes
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as it builds more local warehouses and fills them with goods that it can deliver to customer doorsteps in one day, or even one hour. But for the time being, Amazon's air shipments are climbing as it speeds up deliveries to lure customers and pressure rivals like Walmart Inc and Target Corp. In April, Amazon started offering no-minimum purchase, one-day free shipping to members of its Prime subscription service. In the latest quarter, it saw delivery costs soar, and warned the holiday quarter would see costs for one-day shipping alone spike to $1.5 billion. The Seattle e-retailer, which sends 10 billion packages a year, declined to say what percentage of its shipments travel by plane or give specific examples of how the latest drive to shave time off its standard twoday shipping affected air transport. Amazon said its CO2 emissions in 2018 were 44.4 million metric tons and set a goal to be net carbon neutral by 2040. "We expect the percent of
total shipments to customers utilizing air transportation to reduce from year to year as we significantly increase one and same day shipments," Amazon spokesman Sam Kennedy said, when asked about Cargo Facts' data.
Delivery Wars A standard package flown on a plane in the United States creates an estimated 6-10 times more CO2 emissions than one traveling by truck, said Jacques Leonardi, a senior research fellow in freight, logistics and sustainable distribution at the University of Westminster in London. Amazon Air leases 47 planes and is expected have 50 by the end of the year. It operates roughly 110 daily flights in the United States and around 20 per day in Europe, according to Cargo Facts. In June, shortly after FedEx Corp said its planes would stop shuttling packages for the online retailer, Amazon Air announced plans to have 70 planes on lease by 2021. But Amazon says it is getting closer to customers with an expanding network of wellstocked warehouses. Those
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local fulfillment centers underpin the company's one-day and same-day delivery services. In a news release issued Monday, Amazon said those options were "better for the planet" because there aren't many miles in the trip to customer doorsteps. Because those time windows are so tight, "you are eliminating the possibility of air transportation," Amazon's Bezos said. "Even though it's counterintuitive, the fact of the matter is that shorter delivery times end up being less carbonintensive than longer delivery times." Products from most of Amazon's 158 U.S. distribution centers can
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be shipped to 65% of the population in one day, said Marc Wulfraat, president of supply chain consultancy MWPVL International. Items like footwear, jewelry, auto parts and niche electronics come from 23 distribution centers that span the country - and will likely need to be moved by air for next-day delivery, Wulfraat said. Amazon also depends on United Parcel Service Inc for air shipments. The Atlantabased delivery company has seen a bump in that business since Amazon began expanding free oneday delivery this spring, UPS executives and analysts said. Domestic next day air volume at UPS surged
more than 30% in the second quarter and was up nearly 24% in the third quarter - fueled by faster e-commerce shipping speeds and rival FedEx's breakup with Amazon this summer. "It's not all from FedEx," said Satish Jindel, the founder of logistics advisory firm ShipMatrix, noting that express and deferred air services revenue at UPS surged $852 million in the second and third quarters. Amazon's business was worth about $900 million to FedEx prior to their split, Jindel said. Express, which includes air shipments, accounted for roughly $540 million of that, he said.
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AVIATION
Southwest and American pull 737 MAX until early March, nearly a year after grounding the plane to service before the end of this year as it has targeted.
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outhwest Airlines and American Airlines Group Inc said they are extending Boeing 737 MAX cancellations until early March, just shy of the one-year anniversary of an Ethiopian Airlines crash of the jet that led to a worldwide grounding. Southwest and American, the two largest U.S. operators of the aircraft, have had to scale back growth plans and are together canceling more than 300 flights a day, taking a hit to profits as they manage slimmer fleets without the 737 MAX. Southwest, which has bet its entire growth strategy on Boeing's newest singleaisle aircraft, had previously canceled all its 737 MAX flights until Feb. 8 and now expects a return to service on March 6, though it warned that the timeline could get pushed back again. Boeing Co is facing increasing hurdles in obtaining approval to return
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American said it planned to resume commercial flights on the 737 MAX on March 5, and expects to run test flights for American team members and invited guests before that date, once the aircraft is certified. United Airlines, the other U.S. 737 MAX operator, had thus far canceled flights into January, although it may yet have to extend that time frame. Reuters reported this week that U.S. and European regulators will need to return to a Rockwell Collins facility in Iowa to complete an audit of Boeing's software documentation after regulators found gaps and substandard documents. Boeing has confirmed it must submit revised documentation. That has thrown into question when Boeing would be able to complete a certification test flight. The Federal Aviation Administration has said it would not unground the planes until 30 days after that flight occurs. The 737 MAX, Boeing's best-selling
plane, has been grounded since March after crashes in Indonesia and Ethiopia killed 346 people. Two U.S. officials told Reuters it is extremely unlikely - if not impossible - that Boeing will be able to win approval to return flights to service before the end of December. Just two days ago, American Chief Executive Doug Parker said he was hopeful that the aircraft would "get certified in the near future."
Rising Cost American has estimated that the 737 MAX grounding has cut 2019 earnings by $540 million (ÂŁ422.93 million), while Southwest estimated the total hit to its earnings between January and September at $435 million. That toll will only rise the longer the MAX remains parked. Boeing is discussing compensation with airlines but no agreement has been reached. Southwest had 34 MAX jets at the time of the March 13 grounding and was expecting delivery of another 41 jets this year. It said it still hopes to receive seven MAX deliveries in the current quarter, with the remaining shifting into 2020. But without clarity on the MAX timeline, Southwest said it could not update a previous forecast for first-quarter capacity to grow between 2% and 3%.
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MOBILE
Apple Watch detects irregular heartbeats in U.S. study
the device would result an excess of notifications in healthy participants. People flagged for an irregular pulse were sent an EKG patch to wear. Of those, 34% were found to have atrial fibrillation. Dr. Mintu Turakhia, a Stanford cardiologist and study co-author, said the aim was to evaluate how good the algorithm was and whether it was safe.
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pple Inc's Heart study, the largest yet to explore the role of wearable devices in identifying potential heart problems, found the device could accurately detect atrial fibrillation, the most common type of irregular heartbeat, U.S. researchers reported. The results, published in the New England Journal of Medicine (NEJM), come as technology companies increasingly strike up partnerships with drugmakers as a way to gather large amounts of real-time health data on individuals. Alphabet Inc's Google bought the health tracking company Fitbit for $2.1 billion. That followed Fitbit's alliance with U.S. drugmakers Bristol-Myers Squibb Co and Pfizer Inc to develop their own
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technology to spot atrial fibrillation, a condition that significantly increases the risk of stroke. Smaller players such as AliveCor have paved the way. AliveCor's KardiaBand, a mobile phone accessory that can take medicalgrade electrocardiograms (EKG) to detect dangerous heart rhythms, won U.S. approval in 2017. The Apple study, conducted by researchers at Stanford University School of Medicine, tested the Apple Watch's heart rate sensor and algorithm in more than 400,000 participants who used an app to sign up for the eightmonth trial. During the study, only 0.5% of participants received a warning that they had an irregular pulse, a finding study authors believe should ease concerns that
"If you turn this on out in the wild, how many people are going to get notified and what does that mean for patients, the healthcare system, payers, and patients themselves?" he said. On that score, Turakhia said, the trial was a success. NEJM editor Dr. Edward Campion noted in an editorial, however, that everyone in the study had to own both an iPhone and an Apple Watch, making all participants customers of the study sponsor. Dr. Daniel Cantillon, a Cleveland Clinic cardiologist who was not involved with the study, called the technology promising, but said more than half of the people who signed up were under 40, a group already at low risk for atrial fibrillation. "The overarching concern is are we identifying the sick, or are we scaring the healthy?"
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MOBILE
U.S. official criticizes countries 'opening their arms' to Chinese 5G
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.S. chief technology officer Michael Kratsios criticized countries that "open their arms" to Chinese 5G networks and artificial intelligence technologies. He singled out Huawei, saying Chinese firms cannot be trusted because of laws compelling them to cooperate with their country's intelligence services. Speaking at a tech conference in Lisbon, Kratsios said Europe must "take a stand" with America, which imposed export controls on Huawei in May and urged EU countries not to use its products. "We may not see eye to eye on every aspect of
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technology policy, but we all agree on the principles that matter most," said Kratsios, who helps shape U.S. policies on technology and data. Yet European companies do not seem deterred by Washington's concerns: of 65 commercial deals that Huawei has signed, half are with European customers building 5G networks, the company said. EU lawmakers avoided explicitly singling out China and Huawei as security risks in a recent report on the danger of increased cyber attacks by state-backed entities. Kratsios met Europe's antitrust chief Margrethe Vestager earlier in the day to discuss "digital issues",
a European Commission official said. In his speech, Kratsios reiterated allegations published by Le Monde last year that Beijing had transferred data from the African Union's headquarters in Addis Ababa to China for five years using Huawei IT equipment. The $200 million building was fully funded and built by China in 2012. Huawei condemned Kratsios' comments as "hypocritical and manifestly false", stating that it did not have access to African Union data. The African Union has previously rejected claims that Huawei was involved in any cyber security breach.
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SOCIAL MEDIA
International committee calls for pause on false political ads online
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n international "grand committee" of lawmakers called on Thursday for a pause on online micro-targeted political ads with false or misleading information until the area is regulated. The committee, formed to investigate disinformation, gathered in Dublin to hear evidence from Facebook Inc, Twitter Inc and Alphabet Inc's Google and other experts about online harms, hate speech and electoral interference. The meeting was attended by lawmakers from Australia, Finland, Estonia, Georgia, Singapore, the UK and United States.
such as location, age and interests, a practice critics fear could intensify the effects of false or misleading information on certain groups and suppress voter turnout. At a conference in Lisbon on Thursday, Europe's antitrust chief Margrethe Vestager said, "If it's only in your feed, between you and Facebook, and their micro-targeting of who you are, that's not democracy anymore."
Zuckerberg has defended this policy, saying that the company does not want to stifle political speech. Politicians can micro-target groups of voters on social media based on user data
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"What that has meant is what the Conservative party put in that advert has been the subject of ferocious public debate and discussion, precisely because people could see that it was there," Stimson said. Facebook partners with global third-party factchecking organizations to curb misinformation on the site. Ahead of an election that could shape the fate of Brexit, some politicians have expressed concerns that misleading information could spread swiftly across social media. British Prime Minister Boris Johnson's party chairman was forced to defend the distribution of a doctored video clip of a rival Labour Party politician, overshadowing the launch of the party's election campaign.
The committee's inaugural session in London last November featured an empty chair for Facebook Chief Executive Mark Zuckerberg after he declined to be questioned. Facebook has been under scrutiny in recent weeks over its decision to not fact-check ads run by politicians, which intensified when rival Twitter announced last month that it would ban all political ads.
ahead of Britain's Dec. 12 election.
Facebook said a doctored video shared by Britain's governing Conservatives would not have broken its rules on political advertising if it had run as a paid-for ad. "Ads from political parties and political candidates are not subject to our factchecking rules," Rebecca Stimson, Facebook's head of UK Public Policy, told reporters on a call to explain the company's policies
Johnson's Conservatives posted the heavily edited video clip of Labour's Brexit spokesman Keir Starmer on Facebook and Twitter, editing out a key response in an interview to give the impression that the party had no answer for Brexit. The video was shared as a normal post on the Conservatives' Facebook page, but has not been used as a paid-for ad on the platform, according to a search of Facebook's Ad Library, a database launched to increase political ad transparency.
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AUTOMOBILE
Daimler to cut 1,100 managing positions worldwide - Sueddeutsche Zeitung
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aimler will cut 1,100 leadership positions worldwide, or about 10% of its management, German daily Sueddeutsche Zeitung said, citing a newsletter circulated by the company's works council. A spokeswoman for Daimler's works council referred to an internal letter circulated by works council chief Michael Brecht.
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"The works council was recently informed by management about the personnel and financial situation of the company," Brecht told employees. "Talks have started, there are no results yet." Daimler's works council rules out compulsory layoffs until 2030, Brecht said, adding that voluntary buyouts should be possible but only in a situation when both parties consent. Daimler's new Chief Executive is due to give a strategy
update, which could include cost measures. Daimler said the carmaker was working on a cost analysis so that the car, truck and bus maker can remain competitive going forward. Details will be revealed during the carmaker's capital markets day. "We are in constructive talks with employee representatives and cannot comment on speculation," Daimler said.
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AUTOMOBILE
Tesla to unveil electric pickup 'cybertruck'
"Cybertruck doesn't look like anything I've seen bouncing around the Internet. It's closer to an armored personnel carrier from the future," Musk had said in a tweet. Carmakers including Ford Motor Co and General Motors Co are racing to design radical new takes on their most profitable pickup truck models, replacing petroleum-fueled engines with batteries in a bid to outflank Tesla's plan to eclipse their brands. Ford's F-150 pickup and GM's Chevrolet Silverado are the top selling vehicles in the U.S. market.
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esla Inc plans to unveil its electric pickup truck, "cybertruck," in Los Angeles near the SpaceX rocket factory, Chief
Executive Officer Elon Musk tweeted. Musk had said in January that Tesla might be ready to unveil the truck by summer.
Mercedes-Benz Cars to slash â‚Ź1 billion in costs by 2022
The reveal would happen a day before the Los Angeles Auto Show opens to the public, according to its website.
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aimler shares fell sharply after the German carmaker said tougher emissions rules will hit earnings in 2020 and 2021 forcing it to seek more than 1 billion euros (ÂŁ861 million) in personnel cuts at Mercedes-Benz Cars by end of 2022. The company said it expects to achieve a return on sales from operating activities at Mercedes-Benz Cars & Vans of at least 4% in the year 2020 and at least 6% in 2022. Earlier this year, Daimler had said it hoped to achieve a return on sales of 3% to 5% at Mercedes-Benz Cars.
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November-December 2019
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ASIA
China factory prices falter, while inflation soars to near eight-year high
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hina's producer prices fell the most in more than three years, as the manufacturing sector weakened on declining demand and a knock from the Sino-U.S. tariff war, reinforcing the case for
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Beijing to keep the stimulus coming. The producer price index (PPI), seen as a key indicator of corporate profitability, fell 1.6% in October from a year earlier, marking the steepest decline since July 2016, National Bureau of Statistics
(NBS) data showed. Analysts had tipped a contraction of 1.5% for the PPI. In contrast, China's consumer prices rose at their fastest pace in almost eight years, driven mostly by a surge in pork prices as African swine fever ravaged
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BRITISH HERALD the country's hog herds. Some analysts say the CPI rise could become a concern for policymakers looking to introduce measures to prop up demand. However, core inflation - which excludes food and energy prices - pressures remain modest. The factory deflation was punctuated by falling raw material prices, including in the oil and gas extraction and ferrous metal smelting industries. It aligns with other indicators showing shrinking manufacturing activity, with the official Purchasing Managers' Index (PMI) indicating contraction for a sixth straight month. Zhao Wei, a macro analyst with Wuhanbased Changjiang Securities, said the drag from the real estate sector, which is suffering from a government crackdown on sales speculation and policy tightening on financing for developers, will also become more pronounced. "Looking ahead, while a low base from last year will provide some support in the next few months, PPI deflation is likely to continue as overall demand is still under pressure," said Zhao. "The PPI may continue to be within a
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ASIA negative growth range." While Washington and Beijing work on finalising the first part of a phased trade agreement, many analysts are wary of the potential back and forth after the sudden collapse of earlier talks. Chinese manufacturers, meanwhile, are expected to face continued pressure from existing tariffs. More U.S. tariffs against China are set to take effect on Dec. 15, although officials from both China and the United States said this week they have agreed to roll back tariffs on each others' goods if a "phase one" trade deal is completed. Though, President Donald Trump said he has not agreed to the rollbacks sought by China. The more than year-long trade war has cost China $35 billion as the United States has cut down on Chinese imports, driving up prices for American consumers, according to a U.N. study published.
SURGING PORK PRICES To drive down funding costs and boost the economy, China for the first time since 2016 cut the interest rate in its one-year medium lending facility (MLF) loans. The Chinese authorities, though, have been relatively restrained in providing stimulus measures and the cut was by only 5 basis points. But surging consumer
inflation is adding to the headaches of policymakers who are racing the calendar to meet Beijing's annual growth target as the world's second largest economy slows to the lower end of a 6%-6.5% range for 2019. October's consumer price index (CPI) rose 3.8% yearon-year, the most since January 2012 and beating analysts' expectations for 3.3% rate. The rise was driven largely by a steep climb in pork prices and other meats after African swine fever killed a large portion of China's pigs. Pork prices more than doubled year-on-year in October, according to the stats bureau, accounting for over 60% of the CPI increase. Core CPI for October remained benign at 1.5%. For the full year of 2019, China is aiming for a CPI target of around 3%. It rose 2.6% in the January-October period. "Although we expect the People's Bank of China (PBOC) to maintain its easing policy stance, we believe there is elevated risk of a wage-price spiral amid surging pork prices and the spillover effects to other food prices," analysts at Nomura wrote in a note. "Thus the PBOC could potentially become more reluctant to deliver highprofile policy stimulus in coming quarters to avoid fuelling inflation expectations," the analysts said.
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ASIA
China completes crucial landing test for first Mars mission in 2020
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hina successfully completed a crucial landing test in northern Hebei province ahead of a historic unmanned exploration mission to Mars next year. China is on track to launch its Mars mission, Zhang Kejian, head of the China National Space Administration, said, speaking to foreign
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diplomats and the media before the test. The Mars lander underwent a hovering-andobstacle avoidance test at a sprawling site in Huailai, northwest of Beijing. The site was littered with small mounds of rocks to simulate the uneven terrain on Mars which the lander would have to navigate on its descent to the planet's surface.
"In 2016, China officially began the Mars exploration mission work, and currently all of the different development work is progressing smoothly," Zhang said. "The hovering-andobstacle avoidance test for the Mars lander being carried out today makes up a crucial part of the development process. As scheduled, China's first
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Mars exploration mission will take place in 2020." China has developed the powerful Long March 5 rocket to transport the probe to Mars in 2020. The journey through space will take about seven months, while landing will take seven minutes, said Zhang Rongqiao, chief architect of the Mars exploration programme. The landing will be the toughest and most challenging stage, he said. The same Long March 5 rocket is meant to deliver the Chang'e-5 probe to the moon by the end of
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2019 or early next year to bring back samples of lunar rocks. The Chang'e-4 probe successfully touched down on the far side of the moon in January this year, a historic first and major achievement for China's space programme. China made its first lunar landing in 2013. China expects to complete a modular space station around 2022, around the time when NASA is said to start building a new space station laboratory to orbit the moon, as a pit stop for missions
to other parts of the solar system. In 2003, China became the third nation to put a man in space with its own rocket after the former Soviet Union and the United States. Since then, it has been racing to catch up with Russia and the United States and become a major space power by 2030. "China is currently actively planning and preparing a number of major space programmes including a Mars sample return mission, asteroid exploration missions and many more lunar missions," the head of the space administration said.
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ASIA
World’s Best Christmas Market
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hristmasland in New Taipei City officially lights up on November 15!
The “Christmasland in New Taipei City” held in North Taipei in mid-November every year is the largest Christmas festival in Taiwan. NZ Herald has recommended it as one of the “World’s Best Christmas Markets.” What a global phenomenon! It has become the only Asian country being selected as a Christmas Market, standing in line with Essen in Germany, Vipiteno in Italy, Frankenmuth in the United States, and Mulhouse in France. This year, “Christmasland in New Taipei City” officially announces the open ceremony on the evening of November 15, attracting tons of people to participate
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in the Light-up Ceremony at the Citizen Square in New Taipei City. For the first time, the members of well-known Japanese women’s idol group, Sayuri Matsumura and Kazumi Takayama of “Nogizaka46,” also come to the Christmasland as VIPs to officially launch the open ceremony of Christmasland in New Taipei City. The New Taipei City Government has teamed up with Singapore’s wellknown light sculpture team to create an enchanting, magical world with a laser projected area of 8,800
square meters. It is one of the highlights of the event, using a total of 45 projectors and 12 sets of laser devices. It has set a record for the largest area of light sculpture display in Taiwan. Another breathtaking highlight of the “Christmasland in New Taipei City” is the dreamy lighting art installations, where the overpasses around New Taipei City Hall are specially embellished with pretty thematic colors to create eight “Light Corridors” that are highly appreciated by domestic and foreign
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tourists. One of the overpasses spanning over Xinfu Road is highlighted with beautiful photo spots that will gradually change colors in rhythmic blue and yellow. Another overpass crossing Xinzan Road uses purple light decorations to create an incredibly beautiful dandelion-shaped lampshade!
There are three major lighting areas this year. In addition to the Citizen Square, the lovely Forest Hut Market Fair at Banqiao Station Square has collaborated with an artist team that has won the Italian A' Design Award. It is erected with several art installations in conjunction with the images of New Taipei City, allowing people to touch,
Christmasland in New Taipei City related information: Festival time: 2019/11/15 ~ 2020/01/01 (lights up at 17:30 every evening) Festival location: New Taipei City Citizen Square, Banqiao Station Square, Wanping Metropolitan Park (3 major lighting areas) Official website: https://christmasland.ntpc.gov.tw World’s Best Christmas Market Third Party Press Release Content Provided By Tourism And Travel Department, New Taipei City Government.
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play, take photos, and appreciate art without any estrangements through the careful evaluation of various aspects, such as light and shadow illumination, color temperature change, and night scene images. The last lighting area is in Wanping Metropolitan Park. It is collaborated with Japan’s super cute “Kanahei,” displaying six adorable photography installations. You can also enjoy the limited theme drinks and snacks at the same time. “Christmasland in New Taipei City” kicks off from today onwards until early next year. It’s a once-in-alifetime opportunity that you mustn’t miss, enjoying the fantastic winter festival with friends from all over the world!
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ENTERTAINMENT
Liam Gallagher wins first ever MTV Rock Icon award at MTV Europe Music Awards rendition of Oasis anthem "Wonderwall", complete with string instruments and band. "I want to thank MTV for recognising my brilliance," Gallagher said when receiving the award. Korean superstars BTS, who have led the wave of K-pop music sweeping the global scene, won "Best Live" and "Biggest Fans". NCT 127 became the first ever K-pop group to perform on stage at the EMAs.
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asis frontman Liam Gallagher took home the first ever MTV Rock Icon award at Sunday's MTV Europe Music Awards, where the big winners of the night were Taylor Swift, newcomer Billie Eilish and South Korean Boyband BTS.
happening right now," host Becky G said on the red carpet. Liam Gallagher closed the show with his new single "Once" and a singalong
"Well, it makes us very nervous to know that we are the first K-pop group to be here but that much more we think it's important," said band member Johnny. "We want to show our fans in Europe our great performance." The show at Seville's FIBES Conference and Exhibition centre also saw the first global performance of
Taylor Swift won "Best U.S. Act" and "Best Video" and Eilish was awarded "Best Song" and "Best New" in a show that celebrated "Year of the Woman" with performances from acts including Dua Lipa, Halsey and Rosalia. "We are about that girl power always, I think that's what's
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BRITISH HERALD
ENTERTAINMENT "Como No", the reggaeton hit by Akon and Becky G. She later performed a medley of her hits including "24/7", "Sin Pijama" and "Mayores". Some of the biggest screams on the red carpet were for a surprise guest, footballer Cristiano Ronaldo, who arrived with his girlfriend Georgina Rodriguez. American rockers Green Day played for thousands of fans in Seville's iconic Plaza de Espana, performing their new single "Father of All" and fan favourite "Basket Case". Other notable performances included Halsey, who won "Best Pop", lighting up the stage for an intimate performance of "Graveyard" during which she set fire to a carousel horse. Local girl and international sensation Rosalia gave a powerful performance of "Di Mi Nombre" backed by 52 dancers against a pyramid of red chairs. She won "Best Collaboration" along with J Balvin for their hit "Con Altura ft. El Guincho". Dua Lipa opened the show with the first global stage performance of her new song "Don't Start Now" along with a yellow wall of dancers. An all-female orchestra accompanied "Best Push" winner Ava Max, who sang her hits "Torn" and "Sweet but Psycho". Pop heavyweight Ariana Grande, nominated for seven awards, went home empty handed.
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November-December 2019
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'Order!' - Meet the Belgian musician behind the Bercow dance remix
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he famous bellows of "Order!" by former British parliamentary Speaker John Bercow have shimmied their way out of Westminster and into a dance remix gone viral at the hands of Belgian dance musician Michael Schack. "John Bercow is probably the most rock 'n' roll politician in the whole Brexit saga," Schack told Reuters in an interview.
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The video, featuring an intense beat and muppet versions of Bercow, as well as Prime Minister Boris Johnson, has amassed tens of thousands of views on YouTube views since Schack uploaded it on Oct. 24. Bercow's sometimes caustic put-downs of lawmakers and his contorted cries of "Order!" as he refereed House of Commons debates on the tortuous Brexit saga have made him one of the most
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BRITISH HERALD recognisable figures in British politics. Schack was looking for vocals for a dance track he had produced and he turned to Bercow and his trademark ripostes after watching the debates. "There was one guy that stood out – they've had three prime ministers but it's only one guy who is actually the protagonist in the whole Brexit saga," Shack said, referring to Johnson's predecessors Theresa May and David Cameron.
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ENTERTAINMENT Bercow, who stood down as Speaker, found himself at the centre of big moments, and sometimes put himself there, in the Brexit tug-of-war between the legislature and the executive.
musician, said he did not know if Bercow had seen his video.
His cries of "Order!" - which he said nearly 14,000 times during his 10-year tenure according to the BBC propelled him to fame across the globe.
He said the video was not intended as a political statement.
Schack, an Antwerp-based electronic drummer and
"I certainly hope he saw it. I hope he appreciates it," Schack said. "He has a bit of humour."
"It's not anti-Brexit, it's just music about a political situation, trying to put a smile on people's faces."
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ENTERTAINMENT
Jennifer Aniston returns to TV with 'The Morning Show'
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ennifer Aniston returns to television in "The Morning Show", an original show for Apple Inc's new subscription video service, in which the actress reunites with her "Friends" sister Reese Witherspoon. In the 10-episode programme, Aniston plays a well-known television journalist on a fictional morning programme whose male co-presenter, played by Steve Carell, has been fired amid sexual harassment accusations. The 50-year-old actress, who rose to global stardom
through "Friends", starred in a string of movies after the hit 1994-2004 series ended, including "Horrible Bosses", "The Break-Up" and "Marley & Me" on top of a few cameos on television shows. "It wasn't really about TV versus film," Aniston told reporters at a London screening of "The Morning Show" about taking on a television starring role. "It was really the show ... I love morning talk shows and getting to learn about the world behind it is just fascinating ... It was the most rewarding thing I've done in years.""The Morning Show" looks at issues highlighted by the #MeToo movement - which has drawn attention to sexual harassment and abuse of
women in the fields of entertainment, business and politics - as well as ageism. "I haven't necessarily felt that ageism has affected me only because I feel like I'm working more than I've ever worked," Aniston said. "The #MeToo of it all, we're all kind of trying to find our way and understand this new normal. And I think the show does a really good job of shedding a light on that." Oscar winner Witherspoon, who played Aniston's sister on "Friends", portrays a young reporter. Both actresses were also executive producers on "The Morning Show". "It's different now. We have a lot more experience. We have a lot more wisdom. We've learned a lot," Witherspoon told reporters on working with Aniston again. "And we feel we've learnt the stories we want to tell." Asked how a series can stand out when streaming services are regularly launching original content, executive producer Michael Ellenberg said: "Reese Witherspoon, Jennifer Aniston and Steve Carell - is probably the simplest thing." "And then it was an amazing opportunity to be part of Apple's launch ... it's a company that knows how to create a moment when the iPhone comes out, you know it's coming out. And I think everyone knows our show is coming out right now too."
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BRITISH HERALD
ENTERTAINMENT
LGBTQ characters on U.S. television at all time high
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hows like "Batwoman," "Pose," and "Euphoria" have brought the number of lesbian, gay and transgender characters on U.S. television to a record high, helping to accelerate acceptance of sexual diversity in wider society, according to a report issued. Advocacy group GLAAD said that LGBTQ characters made up 10.2% of prime-time series regulars on traditional network television. That was the highest percentage in the 15 years that the organization has been tracking numbers and a 1.4% increase over the previous year.
strong rise, thanks largely to upcoming series "The L Word: Generation Q," "Batwoman" which featured the first lesbian superhero, and the upcoming "9-1-1: Lone Star" spinoff, which will feature a black transgender male actor. GLAAD said that according to recent opinion polls, less than one quarter of Americans say they personally know someone who is transgender. "This is why it is so important that Hollywood be inclusive of trans characters which reflect the full diversity of the
community, and that they tell a wide range of stories," the report said. GLAAD had called on the TV industry to reach 10% LGBTQ characters by 2020. With that goal already surpassed, the group raised its target and called on the makers of television shows to ensure that 20% of regular characters on primetime scripted series are LGBTQ by 2025.
Adding in those with recurring roles in the 20192020 television season now underway, GLAAD calculated that there are now 488 LGBTQ characters in scripted television series on broadcast, cable and streaming platforms in the United States. "Shows like 'Pose,' 'Schitt’s Creek,' 'Batwoman,' and 'Billions' demonstrate that not only are LGBTQ stories and characters on television becoming more diverse, but also that viewers everywhere continue to respond with extreme positivity," GLAAD President Sarah Kate Ellis said in a statement. The numbers of lesbian and transgender characters showed a particularly
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November-December 2019
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ENTERTAINMENT
Want to binge watch? New streaming TV Services will make you wait
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n 2013, Netflix Inc shook up television by delivering 13 episodes of "House of Cards" in one batch, a move that helped popularize streaming video and fuelled a culture of binge watching.
episode of its original series per week, Robert Greenblatt, chairman of WarnerMedia Entertainment and the company's directto-consumer business, told Reuters. That mirrors the traditional TV pattern.
But Apple Inc Walt Disney Co and AT&T Inc are largely rejecting that path as they prepare their own efforts to hook the online audiences that embraced Netflix.
"We like the idea that people watch weekly and look forward to the next episode and talk about it," Greenblatt said. "Newspapers write about the storylines. There is a sense of a shared experience."
Executives at AT&T's forthcoming HBO Max, a streaming service that will be unveiled to investors on plan to debut one new
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Creating buzz around a new series will be crucial in the coming weeks and months
as several companies jockey to lure customers and keep them paying a monthly fee over the long term. HBO Max may make some exceptions, according to a source familiar with the company's strategy, by putting out a few episodes simultaneously to stoke initial interest. Apple, meanwhile, will debut its subscription video service, Apple TV+, on Friday. For dramas "The Morning Show" and "See," and most other Apple series, the company will drop three episodes at the same time,
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ENTERTAINMENT around 10 to 12 weeks. HBO's "Euphoria," for example, released its first instalment in June at the same time that Netflix dropped the entire season of "The Dark Crystal: Age of Resistance." Global demand for "Dark Crystal" peaked in the first week after it premiered, while "Euphoria" saw steady increases after each episode came out, according to Parrot Analytics. It reached its highest point around the episode eight finale.
followed by one per week. The family-friendly Disney+ will unveil episodes weekly for new series including "The Mandalorian," the first liveaction TV show set in the "Star Wars" universe.
'Wait and Experience' "Mandalorian" star Pedro Pascal said he believes the once-a-week approach will make watching the show "more romantic and more classic." "Basically you get to sort of wait and experience more collectively, and it just makes it more event television, which it deserves to be," Pascal said. "A little courtship never hurt anyone," added co-star Gina Carano. But to some viewers, going a week after a dramatic cliffhanger "seems like it's old school," said Brett Sappington, principal analyst at Parks Associates.
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"For some consumers, that can be frustrating," he said. "Expectations are just different today." While it started among younger viewers, binge viewing of several episodes is now common among all age groups, Sappington said. It also has been adopted by audiences around the world. In surveys by Ampere Analysis, 69 percent of people in the United States said they frequently watch several episodes of the same TV show back to back. The percentage was 66 percent in Britain, 65 percent in France and 46 percent in Germany.
Spiking at Debut Various release strategies can generate hits, according to data from Parrot Analytics, which measures global demand for programming. It found interest in binge-able series generally spikes when they debut and then tapers off, while shows released weekly see interest build over time. Both level off
Both shows peaked with roughly 18 million daily "demand expressions," a combination of viewership, social media mentions and online research about the shows. Even Netflix is experimenting with intervals between episodes. For reality competition "Rhythm + Flow," the company released four instalments at first, three more a week later, and the final three a week after that. Around the world, Netflix distributes roughly 35 shows on a once-a-week basis, Chief Content Officer Ted Sarandos said during the company's earnings webcast. While it does not release audience figures for most of its programming, Sarandos said Netflix customers preferred getting all episodes together. "We actually get more viewing and cumulatively more social media buzz, more tweets, more activity on social media, around these shows for the all-atonce model," Sarandos said.
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ENTERTAINMENT
Self-taught violin maker from North Macedonia wins international fame acclaimed violinist. His younger sister Frosina is also a professional violinist. "I had to create the conditions for him (Kostadin) to develop. The first condition was having a good instrument, which I couldn't afford," Bogdanovski told. Bogdanovski, a resident of Veles, a town in North Macedonia about 50 km (30 miles) south of the capital Skopje, ended up giving up his job as an artist to devote himself fully to making violins.
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vetozar Bogdanovski built his first violin 35 years ago for his son Kostadin, then aged seven, who had expressed interest in taking
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lessons. Today Bogdanovski's violins are priced at 60,000 euros ($67,000) apiece and are sold worldwide, while Kostadin is an internationally
His wife Marija - a professor of violin - and fellow artist Tatjana Miseva also joined him in the new business, which has now built more than 700 instruments, some of them copies of instruments made by famous Italian masters such as Guarnerius. Bogdanovski uses maple wood for the bottom of his violins and spruce wood for the top, all exclusively from
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ancient Bosnian forests. The wood is first dried, then soaked in saltwater for several years before the building of the instrument begins. "Each violin has something specific and unique. That's why no two are the same, even though each instrument looks just like any other. They differ from each other just as people do," he said. Among the international prizes he has accumulated, Bogdanovski is especially proud of an award one of his instruments won in Italy against competition from craftsmen descended from violin masters of Cremona. He also twice won the prestigious annual award of the Violin Society of America, in 2008 and 2012. American Rachel Barton, Serbian Robert Lakatos and Greek Jonian-Ilia Kadesa are among prominent violinists using his instruments.
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ENTERTAINMENT
British broadcasters join up for new BritBox streaming service
on demand (SVOD) Reemah Sakaan said more original content would be available next year. She said BritBox was not making any subscription forecasts, but ITV had ambitious plans to create a profitable scale business. British viewers would immediately feel at home on the platform, she said, with navigation guided by
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streaming service created by British broadcasters ITV and the BBC and went live on Thursday, entering a market dominated by Netflix and Amazon with a 5.99 pound ($7.70) a month offer focused on domestic content. Period drama "Downton Abbey", comedy "Only Fools and Horses" and detective show "Miss Marple", will be some of the programs on the service, along with all 627 available episodes of "Doctor Who" originally broadcast between 1963 and 1989. BritBox said Channel Four, a publicly owned and adfunded broadcaster, would also supply content from next year, to give the service the suite of Britain's main free-to-air broadcasters which also includes Channel 5. ITV Chief Executive Carolyn
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McCall has said BritBox is not designed to replace bigbudget U.S. rivals but should be seen an add-on service offering viewers Britishfocused content. The broadcaster is investing up to 25 million pounds this year and around 40 million pounds in 2020 in BritBox, a figure dwarfed by the roughly $15 billion Netflix paid for content in 2019 and the $2 billion Apple has spent on original programming for its new video streaming service. BritBox is offering the exclusive drama "Lambs of God" at launch and ITV's director of subscription video
types of program or content starring favorite actors. "Quite often streaming services are dominated by U.S. shows and U.S. talent, but UK audiences can feel a bit lost," she said. "You will immediately be in a world populated by people and faces that you know, and talent is a really important part of that." Content will typically move to BritBox after it has appeared on the broadcasters' existing catchup services, such as ITV's Hub and BBC's iPlayer, she said.
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NEWS
James Dean set to appear in a movie six decades after his death, horrifying fans Chuck Berry, and astronaut Neil Armstrong, said the casting would open up new opportunities. "With the rapidly evolving technology, we see this as a whole new frontier for many of our iconic clients," CMG said in a statement.
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ames Dean is coming back from the dead to appear in a new movie, a Hollywood production company said, causing an uproar about the idea of reincarnating one of America's most beloved film icons. Magic City Films said it had obtained the rights from Dean's estate to digitally recreate the "Rebel Without A Cause" star, who died in a 1955 car accident aged 24, for a Vietnam War-era action drama called "Finding Jack." Dean will be recreated through a mixture of old photos and footage, along with computer generated creations projected over stand-ins. A different actor will lend his voice to what will be a secondary role for Dean's character. "We feel very honoured that his family supports us and
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will take every precaution to ensure that his legacy as one of the most epic film stars to date is kept firmly intact," producer Anton Ernst said in a statement. "The family views this as his fourth movie, a movie he never got to make. We do not intend to let his fans down." However, many fans were horrified at the idea. Style publication Esquire.com ran a story listing "35 working actors they could have cast instead," while youth culture website Vice.com pleaded "Please don't do this."
"Finding Jack" will not be the first time that actors have appeared on screen long after death. Peter Cushing, who died in 1994, was brought back to life as Death Star commander Grand Moff Tarkin for 2016 film "Rogue One: A Star Wars Story" using computer generated imagery. The late Carrie Fisher will be featured in the upcoming movie "Star Wars: The Rise of Skywalker," but the makers will use unseen footage the actress recorded before her death in 2016 rather than computer generated imagery. Ernst told Entertainment Weekly that producers had conducted an extensive search for an actor to play the role of platoon leader Rogan, before turning to Dean.
"This is among the most ghastly things to ever happen," Nerdist contributing editor Lindsey Romain wrote on Twitter.
"We have seen (screen) tests. When he's on screen, it looks 100% like James Dean. It's exactly the way that we envisioned it," Ernst said.
CMG Worldwide, which licenses intellectual property for dead celebrities including Dean, musician
"Finding Jack" is scheduled for release in November 2020.
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NEWS
Flood, fire and plague-climate change blamed for disasters communities forced to flee the flames. Since 2016, parts of northern and inland New South Wales, along with southern Queensland, have been in drought that the Bureau of Meteorology says is being driven, in part, by warmer sea-surface temperatures affecting rainfall patterns. Air temperatures have also warmed over the past century, increasing the ferocity of droughts and fires.
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xtreme floods in Venice, fires in Australia and even an outbreak of plague in China have been attributed to climate change this week, while researchers have warned that global warming could saddle future generations with life-long illness. Venice declared a state of emergency on Wednesday after "apocalyptic" floods swept through the lagoon city, flooding its historic basilica and inundating squares and centuries-old buildings. "This is the result of climate change," city mayor Luigi Brugnaro said on Twitter.
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But links between climate change and extreme weather events have become a political football in Australia. City thoroughfares were turned into raging torrents, stone balustrades were shattered, boats tossed ashore and gondolas smashed against their moorings as the lagoon tide peaked at 187 cm (6ft 2ins). It was the highest since the record 194 cm set in 1966, but rising water levels are becoming a regular threat to the tourist jewel. "Venice is on its knees," said Brugnaro. "The damage will run into hundreds of millions of euros." On the other side of the world, parts of Australia have been ravaged by wild bushfires this week, with four people killed and
The coal-industry supporting government accepts the need to cut emissions while arguing that stronger environmental action would cripple its economy. That pits the country against its Pacific island neighbours which are particularly susceptible to warmer temperatures and rising seas. Globally, concern about effective action has surged since U.S. President Donald Trump abandoned the international Paris Accord on climate change and took steps to dismantle environmental protections. Trump and Brazilian President Jair Bolsonaro are among the world's
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NEWS An area the size of the Netherlands was hit by a "rat plague" last summer. The wider implications for health are sobering. The Lancet medical journal published a study this week saying climate change was already harming people's health by increasing the number of extreme weather events and exacerbating air pollution. A warmer world brings risks of food shortages, infectious diseases, floods and extreme heat. If nothing is done, the impacts could burden an entire generation with disease and illness throughout their lives, researchers said. "Children are particularly vulnerable to the health risks of a changing climate. Their bodies and immune systems are still developing, leaving them more susceptible to disease and environmental pollutants," said Nick Watts, one of those who led the Lancet Countdown on Health and Climate Change study.
only leaders who publicly question the science of climate change, despite devastating fires in their countries - in California and the Amazon basin - that environmentalists at least partly blame on global warming.
PLAGUE While the politicians argue, concern is growing about
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the impact on the health of a warmer world. In China, health officials have reported a rare outbreak of pneumonic plague after two cases were confirmed this week in Beijing. The two were infected in the province of Inner Mongolia, where rodent populations have expanded dramatically after persistent droughts, worsened by climate change, state media said.
Health damage in early childhood is "persistent and pervasive", he warned, bringing lifelong consequences. "Without immediate action from all countries to cut greenhouse gas emissions, gains in wellbeing and life expectancy will be compromised, and climate change will come to define the health of an entire generation," he told a London briefing.
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NEWS
Juul Labs to stop sales of mint-flavored nicotine pods in U.S
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-cigarette maker Juul Labs Inc will immediately stop selling its mint-flavored nicotine cartridges in the United States, the company said, after new signs that the mint variety is increasingly popular among teenagers. Research released this week in the Journal of the American Medical Association found that mint was by far the most popular flavor among U.S. 10th and 12th grade Juul users, with more than 40% saying it was the most frequently used variety of nicotine pod. One of the studies also showed Juul e-cigarettes were by far the most popular of any brand used by high school and middle school students, with nearly 60% of high schoolers and 54% of middle schoolers saying Juul was their usual brand. Juul Chief Executive K.C. Crosthwaite called the results of those studies "unacceptable" in announcing the move. "We must reset the vapor category in the U.S. and earn the trust of society by working cooperatively with regulators, Attorneys General, public health officials, and other stakeholders to combat underage use," said Crosthwaite, who took the helm after serving as a top
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executive at Marlboro maker Altria Group Inc, which has a 35% stake in Juul. Over the last year Juul has scaled back the number of flavors it offers to stave off mounting pressure from regulators over the surging popularity of its products with teenagers. The company said last year it would pull popular flavors such as mango, cucumber and fruit from retail store shelves in the United States, leaving only tobacco, mint and menthol flavors in traditional retail outlets but still selling others online. Last month Juul announced it would also stop selling fruit- and dessert-flavored nicotine pods online in the United States. The studies released this week suggest those efforts have not reduced Juul's popularity among teenagers. The percentage of high schoolers using e-cigarettes increased to 27.5% this year, up from 20.8% last year. Moreover, data from one of the new studies suggest that mint and menthol flavors have taken the place of fruitand candy-flavored nicotine liquids this year, after Juul restricted retail sales of flavors except mint, menthol and tobacco last fall. Use of mint or menthol flavors increased among
high school e-cigarette users between 2018 and 2019, growing from 38.1% to 57.3% this year, according to the analysis. Use of "fruit" or "candy, dessert or other sweets," on the other hand, declined this year. It will stop selling mint nicotine pods online in the United States immediately, and stop accepting new orders for mint cartridges from retailers. Juul still sells mint and other sweet flavors in international markets. The move comes as the Trump administration is considering a ban on all e-cigarette flavors except tobacco. President Donald Trump and Health and Human Services Secretary Alex Azar announced the plan and said a final decision would be made. No final decision has been announced. After that announcement, Juul CEO Kevin Burns stepped down and was replaced by Crosthwaite, who said the company would refrain from lobbying the administration on the proposed flavor ban. Meredith Berkman, cofounder of Parents Against Vaping E-cigarettes, said that Juul's move was "too little, too late," adding that she expects teenagers will simply flock to mentholflavored e-cigarettes if mint is removed from sale. "If you really cared, you would include menthol," she said. "That's where the kids will go. Everyone knows it."
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Video game 'Legends' do battle for $1 million
The European and Chinese teams in Sunday's finals are composed of five players each, all male and aged between 19 and 24. LoL Worlds offer a prize pool this year of about $6.5 million, making it the third-biggest after Dota 2's The International and the Fortnite World Cup. The winning team will receive almost $835,000, while the runners-up get more than $300,000. The European gamers are seeking to end Asia's supremacy; South Korea has won five of the six previous championships, with a Chinese team winning last year.
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wo teams of young video gamers from Europe and China will do virtual battle on Sunday - and there's more than $1 million at stake.
success of esports - video game competitions and of its LoL Worlds championship, broadcast on video live-streaming service Twitch.
The teams will fight it out in blockbuster online game "League of Legends", in a contest drawing millions of viewers and a growing crowd of sponsors.
It says last year's championship attracted close to 100 million viewers, putting it in the same ball park as the Super Bowl, the biggest American TV event. Sponsors include French luxury brand LVMH's Louis Vuitton, U.S. payment giant MasterCard and Chinese electronics company Oppo.
The game, developed 10 years ago by Los Angelesbased Riot Games, sees teams of players face off in a virtual battle arena with one main goal: destroying their opponents' "Nexus" base. The finals of the 10th edition of the game's world championship tournament, dubbed "LoL Worlds" and hosted at the AccorHotels Arena in Paris, will see Europe's G2 Esports go up against China's FunPlus Phoenix (FPX). Riot Games is surfing on the growing
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Global esports revenues will hit $1.1 billion in 2019, up 27% from last year, with ballooning income from advertising, sponsorship and media rights, according to gaming industry analytics firm Newzoo. League of Legends, Dota 2, Fortnite and Counter-Strike: Global Offensive are some of the most popular esports.
But the organizers say the top Asian players are increasingly being challenged. "What's amazing about that is that the Chinese and the Korean leagues have typically dominated this kind of competitions," said John Needham, Global Head of LoL Esports at Riot Games. "We have a lot more competitive parity," he added. Danish player Rasmus Winther, who is in the European team and nicknamed Caps by fans, echoed that sentiment at a news conference the Eiffel Tower. "When we joined the LCS (League of Legends Championship Series), the West didn't really have a good shot at doing anything internationally," the 19-yearold said. "Now ... we want to be champions and create a legacy for ourselves."
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SPORTS
Bryan brothers to bow out after 2020 U.S. Open
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ob and Mike Bryan, the greatest doubles pair in the history of tennis, have announced they will end what they describe as a "magical ride" in 2020 after one more crack at the U.S. Open. The 41-year-old Californian twins, famous for their trademark chest-bump celebration, will bid farewell at Flushing Meadows, scene of their Grand Slam debut in 1995. Playing almost exclusively with each other throughout their 25-year careers,
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the Bryans captured a professional era record 118 titles, including 16 Grand Slam titles, 39 ATP Masters 1000s and the ATP Finals title four times. The Bryans also won Olympic gold at London 2012 and were part of the U.S. Davis Cup-winning team in 2007. Mike claimed two more Grand Slam titles with Jack Sock in 2018 after Bob was sidelined with a hip injury. "Mike and I chose to finish our 2019 season after the U.S. Open, even knowing
there was a strong chance we'd qualify for the ATP Finals," Bob said in an ATP statement. "After much discussion, we decided that it would be best to rest our minds and strengthen our bodies in preparation for 2020 which will be our final season on the ATP Tour. "For the last 21 years, we have been so grateful for the opportunity to live out our dreams of playing professional tennis. It has truly been a magical ride."
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SPORTS
Ex-Arsenal boss Wenger joins FIFA as global development chief
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ormer Arsenal manager Arsene Wenger has been appointed as FIFA's new chief of global football development, with the Frenchman set to oversee the growth of the sport plus technical matters, soccer's world governing body said. The 70-year-old was recently linked with the Bayern Munich job following the sacking of Niko Kovac but said that while he was approached he was never a candidate for the job. Wenger will be the leading authority on technical matters on FIFA's Football and Technical Advisory Panels involved in the International Football
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Association Board (IFAB) review and decisionmaking process on potential changes to the game's laws. He will also be the chair of a technical study group. "I look forward to taking on this important challenge, not only because I have always been interested in analysing football from a broader perspective but also because FIFA's mission... is truly global," Wenger said in the FIFA statement. "I believe that the new FIFA we have seen emerging in recent years has the sport itself at the heart of its objectives and is determined to develop the game in its many different components. I know I can contribute to this objective and will put all my energy into this."
Wenger will also focus on educating coaches and contribute to the development of an executive programme that will help former professionals enter management. Wenger left Arsenal in May last year after a reign of 22 years during which he redefined the Premier League club and became their most successful manager. He led the Gunners to three Premier League titles - including in 200304 when his 'Invincibles' team went unbeaten for an entire season - as well as seven FA Cups and took Arsenal into the Champions League for 20 years in a row.
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SPORTS
Hamilton sees 'a lot going on' in driver market for 2021
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ix-time Formula One world champion Lewis Hamilton predicted big moves in the driver market for 2021 but expected Ferrari to remain the closest challenger to his Mercedes team next season. "In this next year we must see drivers switching, there is a lot going on, that is happening in the background, each driver talking to certain teams," the 34-year-old British driver, in Brazil for the penultimate race of the year, told a news conference organised by team sponsor Petronas. Hamilton secured the championship with a second-place finish at the U.S. Grand Prix in Texas. He and most other top drivers will see their contracts expire at the end of next year, and fans have already been
speculating about where they will end up. Formula One has unveiled major rule changes for 2021, with radically overhauled cars expected to make races closer and more exciting, while new spending restrictions should limit the advantage now held by top teams. Hamilton said Ferrari's Charles Leclerc and Red Bull's Max Verstappen, both 22, were "champions of the future". "I think both have really fair, aggressive driving styles, which is great," he said. "In terms of who is going to win, well hopefully I’m still here to try to stop them. "I think Ferrari has the better chance of providing a car that can fight for the world title in the short term."
The Mercedes driver said he hoped the 2021 car lives up to the hype. "If it does what they said on paper, I think we are going to see, perhaps, the best era of racing we've seen in a long time. And I want to be there." A new track in Rio de Janeiro is due to replace Sao Paulo's Interlagos circuit on the calendar in 2021 but Hamilton saw no need to change the track where he won his first title with McLaren in 2008. "I'm a little old school, I love the Interlagos circuit," he said. "I think honestly there is a lot of money that goes into building a new circuit. We already have a historic circuit here, we don’t need to cut any more rainforest down, do any more damage. "That money could go to better causes here, it could go to the infrastructure of the cities, there is a lot of poverty still. If it was my money, I would put it in a better cause. Education is super key, for example." Hamilton, a vegan and vocal supporter of environmental causes, hailed a sustainability plan announced by Formula One this week to make the series carbon neutral by 2030 but questioned why it could not be done sooner.
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