Category: Knowledge

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25 Countries, Housing One-quarter of the World’s Population, Face Extremely High Water Stress

Tap Water

Water stress measures the amount of available supply a country uses to meet demand, and is expected to worsen as the climate warms.

A quarter of the world’s population is currently exposed to extremely high annual water stress, according to new data from the World Resources Institute (WRI). 

New data from WRI’s Aqueduct Water Risk Atlas show that 25 countries – housing one-quarter of the global population – face extremely high water stress each year, regularly using up almost their entire available water supply. And at least 50% of the world’s population – around 4 billion people – live under highly water-stressed conditions for at least one month of the year.

Living with this level of water stress jeopardizes people’s lives, jobs, food and energy security. Water is central to growing crops and raising livestock, producing electricity, maintaining human health, fostering equitable societies and meeting the world’s climate goals.  

Without better water management, population growth, economic development and climate change are poised to worsen water stress.  

What’s Causing Global Water Stress?

Across the world, demand for water is exceeding what’s available. Globally, demand has more than doubled since 1960.

25 Countries, Housing One-quarter of the World’s Population, Face Extremely High Water Stress

Increased water demand is often the result of growing populations and industries like irrigated agriculture, livestock, energy production and manufacturing. Meanwhile, lack of investment in water infrastructure, unsustainable water use policies or increased variability due to climate change can all affect the available water supply.

Water stress, the ratio of water demand to renewable supply, measures the competition over local water resources. 

The smaller the gap between supply and demand, the more vulnerable a place is to water shortages. A country facing ‘extreme water stress’ means it is using at least 80% of its available supply, ‘high water stress’ means it is withdrawing 40% of its supply.

Without intervention – such as investment in water infrastructure and better water governance – water stress will continue to get worse, particularly in places with rapidly growing populations and economies.

Which Countries Face the Worst Water Stress?

The data shows that 25 countries are currently exposed to extremely high water stress annually, meaning they use over 80% of their renewable water supply for irrigation, livestock, industry and domestic needs. Even a short-term drought puts these places in danger of running out of water and sometimes prompts governments to shut off the taps. We’ve already seen this scenario play out in many places around the world, such as India, Iran, Mexico, South Africa, and even in England.

The five most water-stressed countries are Bahrain, Cyprus, Kuwait, Lebanon, Oman and Qatar. The water stress in these countries is mostly driven by low supply, paired with demand from domestic, agricultural and industrial use.

The most water-stressed regions are the Middle East and North Africa, where 83% of the population is exposed to extremely high water stress, and South Asia, where 74% is exposed.

The 25 counties currently experiencing extreme water stress annually.

1. Bahrain

2. Cyprus

3. Kuwait

4. Lebanon

5. Oman

6. Qatar

7. United Arab Emirates

8. Saudi Arabia

9. Israel

10. Egypt

11. Libya

12. Yemen

13. Botswana

14. Iran

15. Jordan

16. Chile

17. San Marino

18. Belgium

19. Greece

20. Tunisia

21. Namibia

22. South Africa

23. Iraq

24. India

25. Syria

Water Demand Is Exploding in Africa but Plateauing in Wealthier Nations

The biggest change in water demand between now and 2050 is expected to occur in Sub-Saharan Africa. While most countries in Sub-Saharan Africa are not extremely water-stressed right now, demand is growing faster there than any other region in the world. By 2050, water demand in Sub-Saharan Africa is expected to skyrocket by 163% – 4 times the rate of change compared to Latin America, the second-highest region, which is expected to see a 43% increase in water demand.

Demand has plateaued in wealthier countries in North America and Europe. Investment in water-use efficiency has helped reduce in-country water use in high income countries, but water use and dependencies extend beyond national boundaries, and the water embedded in international trade from lower-middle income countries to high income countries will increasingly contribute to rising  water stress in low and lower-middle income countries.

Water Stress Could Disrupt Economies and Agricultural Production

Increasing water stress threatens countries’ economic growth as well as the world’s food security.

According to data from Aqueduct, 31% of global GDP – a whopping $70 trillion – will be exposed to high water stress by 2050, up from $15 trillion (24% of global GDP) in 2010. Just four countries – India, Mexico, Egypt and Turkey – account for over half of the exposed GDP in 2050.

According to data from Aqueduct, 31% of global GDP – a whopping $70 trillion – will be exposed to high water stress by 2050

Energy, industrial and agricultural production issues

Water shortages can lead to industrial interruptions, energy outages and agricultural production losses – like those already being seen in India, where a lack of water to cool thermal powerplants between 2017 and 2021 resulted in 8.2 terawatt-hours in lost energy – or enough electricity to power 1.5 million Indian households for five years. Failing to implement better water management policies could result in GDP losses in India, China and Central Asia of 7% to 12%, and 6% in much of Africa by 2050 according to the Global Commission on Adaptation.

Global food security is also at risk. Already, 60% of the world’s irrigated agriculture faces extremely high water stress – particularly sugarcane, wheat, rice and maize. Yet to feed a projected 10 billion people by 2050, the world will need to produce 56% more food calories than it did in 2010 – all while dealing with increasing water stress as well as climate-driven disasters like droughts and floods.

Better Management for a Water-secure Future

It’s good to understand the state of the world’s water supply and demand, but water stress doesn’t necessarily lead to water crisis. For example, places like Singapore and the U.S. city of Las Vegas prove that societies can thrive even under the most water-scarce conditions by employing techniques like removing water-thirsty grass, desalination, and wastewater treatment and reuse.

Solution is NOT expensive

In fact, WRI research shows that solving global water challenges is cheaper than you might think, costing the world about 1% of GDP, or 29 cents per person, per day from 2015 to 2030. What’s missing is the political will and financial backing to make these cost-effective solutions a reality.

If this cost conclusion is accurate – why aren’t we doing it?

Data sources: WRI, Wikipedia

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Fortnite v-buck refund

Fortnite v-bucks

Charged for unwanted items in Fortnite?

V-Bucks are the in-game currency of Fortnite, they can be used to buy virtual items such as skins and loot. However, some players have complained that they were charged for unwanted items and that their children made purchases without their knowledge.

As a result, Epic Games, the developer of Fortnite, agreed to pay $245 million to settle a lawsuit with the U.S. Federal Trade Commission (FTC) and offer refunds to eligible customers.

If you want to apply for a refund, you need to visit the FTC’s official website and fill out a form with your claim number or your Epic Account ID.

You qualify for a v-buck refund if…

  • You were charged in-game for items you didn’t want between January 2017 and September 2022.
  • Your child made charges to your account without your knowledge between January 2017 and November 2018.
  • Your account was locked after you complained about wrongful charges.
Fortnite v-buck refunds

Deadline

The deadline for claims is January 17, 2024. Alternatively, if you want to return a skin or an item that you bought with V-Bucks within the last 30 days, you can do so by following these steps…

  • In Fortnite, go to account and privacy from the settings page or the ‘Customer Support & Refunds’ button below the gear with three lines in the sidebar menu
  • Click on Return or cancel purchase
  • Find and select the purchase you want to return

Go get you v-bucks back!

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‘All that is gold does not glitter, Not all those who wander are lost; The old that is strong does not wither, Deep roots are not reached by the frost.

J R R Tolkien

From the ashes a fire shall be woken,
A light from the shadows shall spring;
Renewed shall be blade that was broken,
The crownless again shall be king’.

J.R.R. Tolkien 1892 – 1973

John Ronald Reuel Tolkien CBE FRSL was an English writer and philologist. He was the author of the high fantasy works The Hobbit and The Lord of the Rings.

‘All that is gold does not glitter, Not all those who wander are lost; The old that is strong does not wither, Deep roots are not reached by the frost.’
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NHS Strike action again, with nearly 8 million waiting in the queue

Consultants and doctors joint strike

British Medical Association-organised strike

Consultants and junior doctors in England are holding their first joint strike in the history of the NHS.

Waiting list

The latest data from NHS England, states the number of people waiting to start routine hospital treatment is at a record high of 7.68 million at the end of July 2023. This is up from 7.57 million in June 2023 and the highest since records began in August 2007. 

The waiting list has increased by more than 3 million since February 2020, the last full month before the start of the pandemic. The NHS is facing many different challenges due to the impact of Covid-19 on its services, staff and resources. This data suggests that the waiting list was already at 4 million even before the pandemic hit.

The latest strike action is a major factor now contributing to the NHS waiting list. Some reports suggest that over 850,000 routine operations and procedures have been cancelled so far this year, 2023 due to strike action alone.

Factors that may have contributed to the historical rise in the waiting list

  • The suspension or reduction of non-urgent care during the peak of the pandemic to free up capacity for Covid-19 patients.
  • The ongoing infection prevention and control measures that limit the number of patients that can be treated safely in hospitals.
NHS Strike action again, with nearly 8 million waiting in the queue
  • The staff shortages and burnout that affect the availability and productivity of the workforce.
  • The increased demand for health services as people seek help for conditions that were delayed or worsened by the pandemic.
  • Strike action.

The NHS is working hard to tackle the backlog and improve access to care for patients

  • Increasing funding and capacity for elcare, such as by opening more operating theatres, expanding community services and using the independent sector.
  • Implementing new models of care, such as virtual consultations, digital triage and shared decision making, to reduce unnecessary referrals and appointments.
  • Prioritising patients based on clinical urgency and need, rather than waiting time alone, to ensure that those who would benefit most from treatment are seen first.
  • Supporting staff wellbeing and retention, such as by offering flexible working, training and development opportunities and mental health support.

What about health education?

Government action

The government has also pledged to invest an extra £36 billion over the next three years to help the NHS recover from the pandemic and reform social care. However, some experts have warned that this may not be enough to address the underlying issues that affect the NHS performance and quality, such as workforce planning, public health funding and health inequalities.

How did it get so bad?

Lack of money or management failures? It has to one of these two. Throwing funds at an already badly managed ‘business’ will just amplify the problem allowing even more waste. And as the ‘system’ tackles the problem, more and more people will needlessly continue to suffer.

Fix our health service by fixing the people first!

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‘The further a society drifts from truth the more it will hate those who speak it.’

Think

George Orwell 1903 – 1950

George Orwell 1903 – 1950. This quote is ‘attributed’ to George Orwell, a British writer and journalist who is best known for his novels 1984 and Animal Farm. But this quote is most likely NOT an Orwell one – eventhough it is widely accepted as his.

It is most likely that Orwell never wrote or spoke these words, even though they have a broadly Orwellian dystopian feel to them. It would appear that this quote was first written by a conservative writer in 2009, but has been almost universally misattributed to Orwell in the intervening 12 years.

The earliest record found found and apparently the original, was descovered in a column by the conservative writer Selwyn Duke, written in 2009.

So, who is Selwyn Duke?

Selwyn Duke is a conservative writer and commentator who has published articles on various topics such as politics, culture, religion, and science.

Duke is known for his traditionalist and sometimes controversial views on issues such as immigration, feminism, transgenderism, and vote fraud. He has written for several online and print outlets, such as The Hill, The American Conservative, WorldNetDaily, and American Thinker.

He also has a personal website where he posts his opinions and media appearances, and is active on X.

Selwyn Duke should not to be confused with George Orwell, a British author who wrote novels such as 1984 and Animal Farm. A quote that is often misattributed to Orwell actually originated from a 2009 opinion piece by Duke

George Orwell quote
‘The further a society drifts from truth the more it will hate those who speak it.’ Attributed to Orwell – but likely not one of his quotes.
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Bank of England hits all-time confidence low

BoE

Confidence in Bank of England (BoE) is a measure of how much the public trusts the central bank to control inflation, set interest rates and maintain economic stability. 

According to the latest Inflation ‘Attitudes Survey‘ conducted by the Bank of England in August 2023, confidence in Bank of England has plummeted to an all-time low.

Survey

The survey found that only 19% of the respondents were satisfied with the way the Bank of England was doing its job to set interest rates to control inflation, while 40% were dissatisfied. The net satisfaction rate was -21%, which is the lowest since the survey began in 1999.

2% inflation please

The main reason for the low confidence is the high inflation rate that has been persisting in the UK for more than a year. Inflation reached a peak of 11.1% in December 2022, and was still at 6.8% in July 2023, well above the Bank of England’s target of 2%. The Bank of England has raised interest rates 14 times since the end of 2021, from 0.1% to 5.25%, to try to bring inflation down, but this has also increased the cost of borrowing and living for many households and businesses.

Slow

Some critics have argued that the Bank of England (BoE) acted too slowly and too cautiously to raise interest rates when inflation was rising, while others have warned that raising rates too high and too fast could harm the economic recovery from the Covid-19 pandemic. 

The public’s expectations of future inflation are also high, with a median answer of 2.9% for inflation in five years’ time, almost one percentage point higher than the Bank’s target.

Credibility

Confidence in Bank of England (BoE) is important because it affects how people behave in terms of spending, saving, investing, and borrowing.

Bank Governor
Bank of England hits all-time confidence low according to survey

Loss of faith

If people lose faith in the central bank’s ability to control inflation and maintain economic stability, they may act in ways that could worsen the situation, such as hoarding money, demanding higher wages, or taking on more debt.

Therefore, it is crucial for the Bank of England to communicate clearly and effectively with the public about its policies and actions, and to restore trust and confidence in its role as an independent and credible institution.

It is also useful to take notice of early warning signs, such as the economic red alert posed by inflation after the pandemic recovery started.

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UK mortgage arrears by value climbs

Mortgage arrears

The value of UK mortgage arrears jumped by almost a third in April to June 2023 compared with the same period last year, according to the Bank of England (BoE).

Outstanding mortgage debt is now £16.9bn, the highest since 2016, it said.

Mortgage costs have risen for millions as the Bank has repeatedly hiked interest rates to slow soaring prices.

Some experts warn defaults will rise, but others say the number unable to repay remains relatively low.

According to the BoE, in April-June 16% of mortgages in arrears were new cases, which it said ‘was little changed compared to the previous quarter’.

It added that the proportion of mortgages in arrears was the highest since 2018.

See UK debt burden here

UK mortgage arrears
Debt burden – the value of UK mortgage arrears jumped by almost a third in April to June 2023
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Excessive radiation fears for iphone 12

Apple iphone 12

France ban Apple iphone 12

According to news reports, France has banned the Apple iPhone 12 because it emits too much electromagnetic radiation, which could be harmful to human health. 

The French watchdog (ANFR) said that the iPhone 12’s specific absorption rate (SAR), which measures the rate of radio frequency energy absorbed by the body, was above the legal limit of 4.0 watts per kilogram in tests simulating the phone being held in the hand or kept in a pocket. 

Dispute

Apple disputed the tests and said that the iPhone 12 was certified by multiple international bodies and compliant with all global radiation standards. The French digital minister said that Apple had two weeks to respond and fix the issue, or else he would order a recall of all iPhone 12 devices sold in the country. 

The minister also said that France would share its findings with other regulators in the European Union, which could lead to a wider ban of the phone.

France ban Apple iPhone 12 due to excessive radiation fears

What is electromagnetic radiation?

Radiation from mobile phones is a type of electromagnetic radiation that is emitted by cell phones and cordless phones when they send and receive signals. Electromagnetic radiation is a form of energy that travels in waves or particles through space.

It can be classified into two types: ionizing and non-ionizing radiation. Ionizing radiation has high energy and can damage DNA, which may increase the risk of cancer such as; x-rays, radon, and cosmic rays. Non-ionizing radiation has low energy and cannot damage DNA directly – such as; radio waves, microwaves, infrared, visible light, and ultraviolet light.

Cell phone radiation

Cell phones use radiofrequency (RF) waves, which are a type of non-ionizing radiation, to communicate with cell towers and other devices. RF waves have frequencies ranging from 0.7 to 80 GHz, depending on the generation of the cell phone (2G, 3G, 4G, or 5G). The human body can absorb some of the RF energy from cell phones, which may cause some heating to the area of the body where the phone is held (e.g., the ear and head). However, it is suggested this heating is not enough to raise the core body temperature or cause any harmful effects.

Research

There has been a lot of research on whether cell phone use can cause health problems, such as cancer, in humans. However, it has been reported that the evidence so far is not conclusive and does not show a clear link between cell phone use and cancer risk. There could be a link but we do not know 100%… yet?

Some studies have suggested that there may be a small increase in the risk of certain types of brain tumors (such as acoustic neuromas) for people who use cell phones for a long time or frequently. However, other studies have not found any consistent evidence to support this.

The incidence of brain and central nervous system cancers has not changed significantly during the time that cell phone use has increased dramatically. Therefore, more research is needed to understand the possible effects of cell phone use on human health.

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The Magnificent Seven Tech Stocks – STOCK WATCH

The Magnificent Seven

Top tech stocks

The Magnificent Seven is a term to describe seven tech’ stocks that have been surging in 2023.

  • Meta Platforms (formerly Facebook), the social media giant that also owns Instagram, WhatsApp, and Oculus.
  • Apple, the maker of the iPhone, iPad, Mac, Apple Watch, AirPods, and other popular devices and services including cloud and Apple TV streaming service.
  • Amazon, the e-commerce leader that also operates AWS, Prime Video, Alexa, and Whole Foods.
  • Alphabet, the parent company of Google, YouTube, Gmail, Google Cloud, and Waymo.
  • Microsoft, the software company that owns Windows, Office, Azure, LinkedIn, Xbox, and Teams.
  • Nvidia, the semiconductor company that produces graphics cards, gaming devices, data center solutions, and AI platforms.
  • Tesla, the electric vehicle maker that also develops solar panels, batteries, and autonomous driving technology.

Dominant

These seven stocks are considered to be dominant in their respective fields and have strong growth prospects driven by innovation and artificial intelligence (AI).

They have outperformed the broader market and attracted many investors who are looking for exposure to the tech’ sector. Some analysts believe that these stocks will continue to lead the market in the future, while others caution that they may face regulatory challenges, competition, or valuation issues.

Approximate combined market cap of the Magnificent Seven tech stocks

The approximate combined market cap value of the Magnificent Seven as of September 2023 is approximately $11.8 trillion.

  • Apple: $2.5 trillion
  • Microsoft: $2.3 trillion
  • Alphabet: $1.9 trillion
  • Amazon: $1.7 trillion
  • Nvidia: $0.8 trillion
  • Meta Platforms: $0.9 trillion
  • Tesla: $0.7 trillion

Note that these values will change over time as the stock prices fluctuate.

A way to trade the tech sector is through funds

There are many funds that can trade tech stocks, depending on your investment objectives, risk tolerance, and preferences.

Technology mutual funds: These are funds that invest in a diversified portfolio of technology companies across different industries, such as software, hardware, internet, cloud, biotech, and more. Technology mutual funds can offer exposure to the growth potential of the tech sector, as well as reduce the volatility and risk of investing in individual stocks. 

Some examples of technology mutual funds are Fidelity Select Technology Portfolio (FSELX), Columbia Global Technology Growth Fund (CGTYX), and Schwab U.S. Large-Cap Growth Index Fund (SCHG).

Which tech fund to invest in?

Technology exchange-traded funds (ETFs): These are funds that track an index of technology stocks and trade on an exchange like a stock. Technology ETFs can offer low-cost and convenient access to the tech sector, as well as allow investors to choose from different themes, such as cybersecurity, artificial intelligence (AI), cloud computing and more. 

Some examples of technology ETFs are Invesco QQQ Trust (QQQ), Technology Select Sector SPDR Fund (XLK), and VanEck Vectors Semiconductor ETF (SMH).

Technology index funds: These are funds that replicate the performance of a specific technology index, such as the Nasdaq 100, the S&P 500 Information Technology Index, or the Morningstar U.S. Technology Index. Technology index funds can offer broad and passive exposure to the tech sector, as well as low fees and high tax efficiency.

Some examples of technology index funds are Fidelity NASDAQ Composite Index Fund (FNCMX), Vanguard Information Technology Index Fund Admiral Shares (VITAX), and iShares Morningstar U.S. Technology ETF (IYW).

NOTE: These are not recommendations. Investments may go up or down. Your money is at risk!

Always do your own research…

REASEARCH! REASEARCH! RESEARCH!

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‘Even if I knew that tomorrow the world would go to pieces, I would still plant my apple tree’.

Apple Tree

Martin Luther 1483 – 1546

Martin Luther was a German theologian and leader of the Protestant Reformation in the 16th century. He is known for his writings and teachings on topics such as justification by faith, the authority of Scripture, the priesthood of all believers, and the freedom of the Christian.

He also translated the Bible into German and wrote many hymns, catechisms, and commentaries.

He is widely regarded as one of the most influential figures in the history of Christianity.

Apple Tree
‘Even if I knew that tomorrow the world would go to pieces, I would still plant my apple tree’.

See other quotes

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UK Farmers ‘struggling’ to harvest crops due to labour recruiting crisis

Farmring in th UK

Attracting seasonal workers remains a problem for some UK farmers, despite the UK government’s attempts to increase the number of visas available for people from overseas.

There is a shortage of short term farm labour in the UK to pick crops, especially potatoes. Some of the possible causes and consequences of this situation range from Brexit to the war in war Ukraine.

Problems

Brexit has reduced access to temporary workers coming from the EU, while war in Ukraine has disrupted the flow from a country that has provided a large proportion of the UK’s harvest workers in recent years.

The UK government has a seasonal workers pilot scheme that offers short-term visas to those helping with food production, but the farming industry says it needs more than the 38,000 visas that have been made available.

High employment levels in the UK and alternative work opportunities in other sectors such as warehouses and delivery have made it harder for farmers to recruit local workers.

The labour shortage has led to food waste of home-grown fruit and vegetables, as some crops are left to rot in the fields or are harvested less frequently.

Unharvested crops left to rot in a field due to worker shortage in the UK

Food waste and supply chain

The food supply chain is also affected by the lack of workers in slaughterhouses, dairy farms, and other processing facilities.

The food waste and supply disruption could have negative impacts on the environment, the economy, and the consumers’ access to fresh and affordable produce

And it can be especially challenging for farmers in very rural areas, where transport is more difficult and the pools of workers available are likely to be smaller.

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‘If you want to change the world, pick up your pen and write’.

Writing

Martin Luther 1483 – 1546

Martin Luther was a German theologian and leader of the Protestant Reformation in the 16th century. He is known for his writings and teachings on topics such as justification by faith, the authority of Scripture, the priesthood of all believers, and the freedom of the Christian.

He also translated the Bible into German and wrote many hymns, catechisms, and commentaries.

He is widely regarded as one of the most influential figures in the history of Christianity

Writing
‘If you want to change the world, pick up your pen and write’.
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Unit Trusts – KNOWHOW

Chart

A unit trust – a brief explanation

A unit trust is a type of investment fund that allows you to pool your money with other investors and invest in a variety of assets, such as shares, bonds, property, or cash.

A unit trust is managed by a professional fund manager who decides what to buy and sell according to the fund’s objectives and strategy. You can buy or sell units in a unit trust at any time, depending on the market price of the units. The price of each unit is calculated by dividing the total value of the fund’s assets by the number of units issued.

The more units you own, the more you benefit from the fund’s performance. A regular monthly purchase is the best way to buy as you evenly spread the cost and smooth out and the ‘up’s and ‘downs’ over time.

Some of the advantages of investing in a unit trust

  • You can access a diversified portfolio of assets with a relatively small amount of money.
  • You can benefit from the expertise and research of the fund manager who makes the investment decisions for you.
  • You can choose from a wide range of unit trusts that suit your risk appetite, investment goals, and preferences.

Some of the disadvantages of investing in a unit trust

  • The performance of the unit trust depends on the skill and judgment of the fund manager, who may not always make the best choices.
  • You have to pay fees and charges to the fund manager and other service providers, which can reduce your returns.
  • You may face market risks and volatility, which can affect the value of your units.

A unit trust is a good way to invest in the markets but beware, like any investment, markets go up and they go down! Be aware and be careful.

This is not advice or recommendation.

RESEARCH! RESEARCH! RESEARCH!

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‘Be the change that you wish to see in the world’.

Ghandi

Mahatma Gandhi 1869 – 1948

He was an anti-colonial nationalist, Indian lawyer and political ethicist who employed nonviolent methods to lead the successful campaign for India’s independence from British rule.

He inspired civil rights movements and freedom across the world

Gandhi, who led a major nonviolent protest against the British rule in India by marching to the sea to make salt. He was also known as Mahatma Gandhi, meaning ‘great soul’ in Sanskrit. 

He inspired millions of Indians to join his campaign of civil disobedience, or satyagraha, which means ‘truth force’ or ‘soul force’ in Sanskrit. 

He was arrested several times by the British authorities, but he never gave up his fight for India’s independence. He is widely regarded as the father of the Indian nation and a global symbol of peace and justice.

Ghandi
‘Be the change that you wish to see in the world’.
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UK Superfund plan – KNOWHOW

Let the winners run!

The UK superfund plan is a new initiative launched by the Prime Minister and the Technology Secretary on 6 March 2023, with the aim of making the UK a global science and technology superpower by 2030.

The plan outlines key actions that will involve every part of the government

  • Identifying and pursuing strategic advantage in the technologies that are most critical to achieving UK objectives
  • Showcasing the UK’s S&T strengths and ambitions at home and abroad to attract talent, investment and boost our global influence
  • Boosting private and public investment in research and development for economic growth and better productivity
  • Building on the UK’s already enviable talent and skills base
  • Financing innovative science and technology start-ups and companies
  • Capitalising on the UK government’s buying power to boost innovation and growth through public sector procurementSshaping the global science and tech landscape through strategic international engagement, diplomacy and partnerships
  • Ensuring researchers have access to the best physical and digital infrastructure for R&D that attracts talent, investment and discoveries.

Government funding

The plan is backed by over £370 million in new government funding to support infrastructure, investment and skills for the UK’s most exciting growing technologies, such as quantum and supercomputing, AI, biotechnology, clean energy, space and robotics. The plan is expected to create high-paid jobs of the future, grow the economy in cutting-edge industries, and improve people’s lives from better healthcare to security.

Government funding for Superfund

The funding sources for the UK superfund plan are mainly from the government’s budget allocation for science and technology, which has increased by 50% since 2020 to reach £22 billion per year by 2024/25. The government has also committed to increase public spending on R&D to 2.4% of GDP by 2027, which is expected to leverage additional private sector investment. Moreover, the government has established a new agency called Advanced Research & Invention Agency (ARIA), which will have a budget of £800 million over four years to fund high-risk, high-reward research projects that could lead to breakthroughs in science and technology.

Foreign investment

The UK superfund plan also aims to attract more foreign direct investment (FDI) into the UK’s science and technology sector, by promoting the UK as a leading destination for innovation and showcasing its world-class research facilities, talent pool, regulatory environment and market opportunities. The government has set a target of increasing FDI stock in R&D from £45 billion in 2018 to £67 billion by 2025.

The UK superfund plan is a separate initiative from the superfund consolidators for defined benefit (DB) pensions, which are a new innovation in the UK pension industry. Transferring a DB pension scheme to a superfund can improve the security of members’ benefits by replacing a weak employer covenant with a capital buffer. The Pensions Regulator (TPR) has published guidance for trustees and sponsoring employers of UK DB pension schemes considering transacting with a superfund.

GB Savings One Fund

The GB Savings One Fund is a proposal by the Tony Blair Institute (TBI) to create the country’s first superfund for pensions. According to the TBI, the superfund would be an expansion of the Pension Protection Fund (PPF), which is a statutory fund that provides compensation to members of eligible defined benefit (DB) pension schemes in the UK when their employers become insolvent.

The UK Superfund

The Tony Blair Institute suggests that sponsors of the smallest 4,500 UK DB schemes would be offered the voluntary option of transferring to the PPF on a benefit preserving basis, which would improve the security and efficiency of their pensions.

The institute also proposes that the PPF model should be replicated and rolled out throughout the UK in a series of regional, not-for-profit entities that sit within a master governance structure under the existing fund or participate in consolidation in parallel with and modelled on the original GB Savings. 

The TBI argues that this approach would result in a modernised pension system that would generate better returns for pensioners, attract more investment and talent, and strengthen pensions for the entire generation stuck with inadequate provision since the closure of the DB funds over the past two decades.

GB Bank

The GB Savings One Fund is not related to GB Bank, which is a bank that offers competitive savings accounts that support residential and commercial developments in communities that need them most. GB Bank has a full UK banking licence and offers the same level of protection as the traditional high street banks. 

When you save with GB Bank, your money is protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).

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Japan’s moon launch carrying lunar lander and X-ray telescope

Japan rocket to explore galaxies

Japan launched a rocket on 7th September 2023 carrying an X-ray telescope that will explore the origins of the universe and a small lunar lander.

The launch of the HII-A rocket from Tanegashima Space Centre in southwestern Japan was shown live by the Japan Aerospace Exploration Agency (JAXA).

Thirteen minutes after the launch, the rocket put into orbit around Earth a satellite called the X-Ray Imaging and Spectroscopy Mission, or XRISM, which will measure the speed and makeup of what lies between galaxies.

That information helps in studying how celestial objects were formed, and hopefully can lead to solving the mystery of how the universe was created, JAXA reports.

In cooperation with NASA, JAXA will look at the strength of light at different wavelengths, the temperature of things in space and their shapes and brightness.

Smart

Also aboard the Japanese rocket is the Smart Lander for Investigating Moon, or SLIM, a lightweight lunar lander. The Smart Lander reportedly won’t make lunar orbit for three or four months after the launch and would likely attempt a landing early 2024, according to the space agency.

Japan launched a rocket on 6th September 2023 carrying an X-ray telescope that will explore the origins of the universe and a small lunar lander.

Going to the moon has fascinated humankind for decades. Under the U.S. Apollo program, astronauts Neil Armstrong and Buzz Aldrin walked on the moon in 1969.

Only four nations have successfully landed on the moon, the U.S., Russia, China and India.

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When bad news is good news for U.S. stocks

Newsreader

With second-quarter earnings season now largely behind the U.S. market, stock investors have been focusing on the latest economic data and for the most part been reacting positively to bad economic news, or any data that may point to an economic slowdown. 

It’s been almost nine months since the trend emerged, as softening economic data and lower inflation may mean the Federal Reserve can stop raising interest rates.

Traders are reportedly pricing in an over 90% chance that the Fed will hold its policy interest rate unchanged at its September 2023 meeting, and a roughly 35% likelihood that the U.S. central bank will raise interest rates by 0.25% in November 2023.

Fed policy weakening?

The Fed’s monetary policy has lost some of its potency and interest rates may need to rise as a result, economists say.

U.S. stocks closed higher ahead of the Labour Day holiday weekend, after data released indicated a cooling labour market, though there was speculation that summertime jobs data may have been a factor. The U.S. created 187,000 new jobs in August, while the unemployment rate jumped to 3.8% from 3.5%.

The data supports the narrative of a gradual slowdown in the U.S. labour market, but there are no dramatic signs that the economy is weakening significantly economists say. The economic data has not been bad. It is just softening.

News
‘Good news bad news, bad news good news’!

However, if investors see a significant decline in the housing and U.S. labour markets, that could change the narrative and break the cycle in which ‘bad economic news is good news’ for stocks, economic data have to be much worse than now, indicating more damage from high interest rates and higher inflation.

The trend may also reverse if there is a meaningful downgrade of corporate earnings ‘expectations’ and then this translates into weakened profitability.

Inflation just may climb again

Investors should also be alert for the possibility that inflation may accelerate again. Data showed that the personal consumption expenditures price index rose 0.2% in July, but the yearly inflation rate crept up to 3.3% from 3%. Inflation has been trending down but that trend could turn again.

If investors start to treat ‘bad economic news as bad news’ for the stock market, it could put pressure on the 2023 stock-market rally, with the S&P 500 SPX already up 17.6% since the start of the year and the Nasdaq Composite COMP up 34%.

General concensus is that the bull run ain’t over just yet.

Just keep an eye on the data…

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‘It is the beauty within us that makes it possible for us to recognize the beauty around us. The question is not what you look at but what you see’.

Sunshine

Henry David Thoreau 1817 –1862

He was an American naturalist, essayist, poet, and philosopher and leading transcendentalist.

Transcendentalism is a philosophical, spiritual, and literary movement that developed in the late 1820s and 1830s in the New England region of the United States.  

A core belief is in the inherent goodness of people and nature, and while society and its institutions have corrupted the purity of the individual, people are at their best when truly ‘self-reliant’ and independent.

People and a sunset
‘It is the beauty within us that makes it possible for us to recognize the beauty around us. The question is not what you look at but what you see’.
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David Ferrucci, the scientist behind IBM Watson raises substantial funds for his AI project

AI Mainframe Supercomputer Computer

David Ferrucci, a prominent artificial intelligence researcher who led the team that created IBM Watson, has reportedly raised nearly $60 million for his AI company called Elemental Cognition.

Headquartered in New York, Elemental says on its website that the company seeks to develop AI that ‘thinks before it talks‘. It offers two enterprise products, Cogent and Cora, which are essentially chatbots designed for different scenarios. They can be used in financial services, interactive travel planning and for automating research discovery in life sciences.

Elemental Cognition

  • The new startup company is called Elemental Cognition, and it was founded in 2015 by David Ferrucci, who led the team that created IBM Watson.
  • Elemental Cognition aims to develop AI that ‘thinks before it talks‘ and can understand the meaning and context of human language. It offers two enterprise products, Cogent and Cora, which are chatbots for different scenarios.
  • Elemental Cognition has raised $60 million in funding from 17 investors, including Jim Breyer, former IBM CEO Sam Palmisano, and Geoff Yang of Redpoint Ventures.

What is IBM Watson?

IBM Watson is used in various areas of AI, such as natural language processing, machine learning, computer vision, speech recognition, and knowledge representation. IBM Watson is a cognitive computing system that can process natural language, analyze large amounts of data, and learn from its interactions with humans and machines.

IBM Watson is a question-answering computer system capable of answering questions posed in natural language, developed in IBM’s DeepQA project by a research team led by principal David Ferrucci. Watson was named after IBM’s founder and first CEO, industrialist Thomas J. Watson.

Watson Assistant: A chatbot platform that allows businesses to create conversational agents that can interact with customers and employees through text or voice. Watson Assistant can understand natural language, provide personalized responses, and integrate with other services and data sources.

A watercolour image of an AI microchip powering a mainframe supercomputer computer

Watson Discovery: A data analysis tool that can extract insights from structured and unstructured data, such as documents, web pages, social media posts, and images. Watson Discovery can perform natural language understanding, sentiment analysis, entity extraction, and document classification.

Watson Studio: A cloud-based platform that enables data scientists and developers to build, train, and deploy AI and machine learning models. Watson Studio supports various frameworks and languages, such as Python, TensorFlow, PyTorch and R. Watson Studio also provides tools for data visualization, collaboration, and automation.

Watson Visual Recognition: A computer vision service that can analyze images and videos for content, objects, faces, scenes, and emotions. 

Power

The IBM Watson computer consists of a cluster of ninety IBM Power 750 servers, each of which uses a 3.5 GHz POWER7 eight-core processor, with four threads per core. The system has 2,880 POWER7 processor threads and 16 terabytes of RAM. It can process 500 gigabytes (the equivalent of a million books) per second.

Supercomputer now with AI power

The IBM Watson computer has an avatar that is inspired by the IBM ‘Smarter Planet’ logo. The avatar is a globe with a grid pattern and four glowing stripes that represent the four main aspects of Watson: natural language processing, hypothesis generation and evaluation, dynamic adaptation, and evidence-based learning. The avatar also changes color and brightness depending on Watson’s mood and confidence level.

International Business Machines (IBM)

IBM was founded in 1911 in Endicott, New York, as the Computing-Tabulating-Recording Company (CTR) by Charles Ranlett Flint. The company changed its name to International Business Machines (IBM) in 1924 under the leadership of Thomas J. Watson, Sr.  IBM is one of the oldest and most influential technology companies in the world, with a history of innovation and research in various fields of computing.

The International Business Machines Corporation (IBM), nicknamed ‘Big Blue’, is an American multinational technology corporation headquartered in New York and is present in over 175 countries. It specializes in computer hardware, middleware, and software, and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology. IBM is the largest industrial research organization in the world.

IBM holds the record for most annual U.S. patents generated by a business for 29 consecutive years from 1993 to 2021? 

Big Blue quietly works on…

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Happy Birthday Google, 25 years today

Google search engine

Happy birthday to Google, the world’s most popular search engine!

Google was founded 25 years ago today (4th September 2023) – by Larry Page and Sergey Brin, two Stanford University students who wanted to organise the web in a better way. They named their project after the mathematical term ‘googol’, which means 1 followed by 100 zeros.

Since then, Google has grown into a global tech’ giant that offers not only search, but also email, maps, cloud computing, artificial intelligence (AI), and many other products and services. 

Google has also acquired several companies, such as YouTube, Android, and Waze.

Some of the key moments in Google’s history

  • Launching AdWords in 2000, which allowed advertisers to buy keywords and display ads on the search results page.
  • Introducing Gmail in 2004, which offered users 1 GB of free storage and a fast and simple interface.
  • Releasing Google Maps in 2005, which revolutionised the way people navigate and explore the world.
  • Buying YouTube in 2006, which made Google the owner of the largest video-sharing platform on the web.
  • Developing Chrome in 2008, which became the most widely used web browser in the world.
Happy Birthday Google – 25 years today
  • Creating Android in 2010, which became the most popular operating system for smartphones and tablets.
  • Launching Google+ in 2011, which was an attempt to compete with Facebook in the social networking space.
  • Reorganising into Alphabet in 2015, which made Google a subsidiary of a larger holding company that oversees other ventures such as Waymo, Verily, and Calico.
  • Unveiling ChatGPT in 2022, which is a conversational AI system that can generate natural and coherent responses to any text input.

Influential

Google remains one of the most influential and innovative companies in the world. It has changed the way we access information, communicate, entertain ourselves, and solve problems. It has also inspired many people to pursue their dreams and passions.

Google CEO says

As Google CEO Sundar Pichai wrote in his public memo on Google at 25: ‘We started with a simple mission: to organize the world’s information and make it universally accessible and useful. That mission still guides us today. But we’ve also learned that our responsibility goes beyond that. We have a duty to create products that improve the lives of billions of people — not just today or tomorrow but for generations to come’.

Go google!

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AI – music to my ears… or not?

Ha Jiang

Ha Jiang, is a virtual online idol, and only exists online.

Ha Jiang signed a record deal with Whet Records, Warner Music Group’s pan-Asian dance label in China, in 2021. Ha Jiang is the first virtual idol to conduct a record deal with a major label. The virtual idol uses AI technology to create music and has become an online sensation in Asia.

Ha Jiang online music avatar. She is a virtual artist who uses artificial intelligence to create music

Virtual AI artist

Ha Jiang is a virtual artist who uses artificial intelligence to create music. She is the first virtual idol to sign a record deal with a major label, Whet Records, which is Warner Music Group’s pan-Asian dance label in China. My understanding is that the music was composed by humans, so not entirely AI generated then.

Would this also work in west – is it time to be concerned?

She already has more than 100,000 followers in China and is known for her sense of style and fashion. She is also a social influencer who has been hired by the city of Shanghai to promote safe driving. Ha Jiang is not a real person, but a computer-generated avatar who only exists online. She is part of a growing phenomenon of virtual idols in Asia, especially among Gen-Z fans.

Endel, is a sound startup company that uses artificial intelligence to create personalized audio tracks. Endel was the first to sign a record deal with Warner Music Group in 2019 to release 20 albums of ambient music.

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Digital £ Pound Sterling

Digital £ pound

The digital pound is a proposed new form of money that would be issued by the Bank of England and backed by the government. It would be similar to a digital banknote, enabling you to use it in-store or online to make payments.

It would not be intended to replace cash, but complement it. The digital pound is also known as digital sterling or Britcoin.

Bank of England and UK Government

The Bank of England and HM Treasury are looking at the idea of a digital pound because they think it might offer a new way to pay, help businesses, build trust in money, and better protect the UK’s financial system. They have published a Consultation Paper, which explores the need for the digital pound and proposes a set of design choices for it. They are also engaging with businesses and communities to get their views on the digital pound.

The digital pound is not a cryptocurrency or cryptoasset. Unlike cryptocurrencies, which have volatile values, the digital pound would be issued by the Bank of England and have a stable value, just like banknotes.

I promise to pay the bearer on demand the sum of £10.00

The digital £ is coming to a bank near you or more likely, an app near you

£10 in digital pounds would always have the same value as a £10 banknote.

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India’s mission to the sun is next

India mission to the sun

Mission to the sun

Days after India’s successful moon mission, the country is now setting its sights on the sun. 

According to the Indian Space Research Organization (ISRO), the Aditya-L1 spacecraft will be launched from the Sriharikota Spaceport on 2nd September 2023 in a bid to study the sun and its effect on space weather. 

Aditya (sun in Hindi)

Aditya, which refers to the sun in Hindi, is to be placed in a halo orbit around the Lagrangian point 1 of the Sun-Earth system, where the sun can be observed without any obstructions, an ISRO report stated.  

Lagrange points are positions in space where gravitational forces of two large masses produce ‘enhanced regions of attraction and repulsion’, according to NASA. The resulting force can be used to remain in position and reduce fuel consumption – and can be likened to ‘parking places’ for spacecraft.

To become India’s first space based observatory

The launch will mark India’s first space-based observatory to study the sun, and would offer a ‘major advantage of continuously viewing the sun without any occultation or eclipses’, the ISRO report stated.

India mission to the sun
India’s mission to the sun

The mission would also allow for the study of solar wind, which could potentially cause disturbances on Earth, such as disrupting communications, navigation systems and weather patterns.

India’s government had granted a $46 million budget for the mission back in 2019.

India recently became only the fourth country to land on the moon, doing so with the relatively low budget of $75 million. This was a massive achievement and one India celebrated with relish.

While a first attempt for India, other countries have successfully placed orbiters to study the sun. NASA’s Parker Solar Probe in 2021 which was sent to the sun’s corona to sample particles and magnetic fields, as well as the European Space Agency’s Solar Orbiter which was launched the year before. 

See India’s moon mission article here