Wednesday, February 28, 2018

0 The Spice Girls are apparently all attending Harry and Meghan's royal wedding — and they might be performing

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spice girls

  • All five Spice Girls are attending the wedding of Prince Harry and Meghan Markle on May 19, according to band member Mel B.
  • The singer also hinted that the girl group could be performing at the reception.
  • The rest of the guest list remains unknown, but St. George's Chapel can seat 800 guests.


The Spice Girls are attending Prince Harry and Meghan Markle's royal wedding in May, according one of the group's members — and they could even perform at the reception.

On Tuesday, Mel B (real name Melanie Janine Brown) told American talk show "The Real" that all five Spice Girls have been invited to the highly anticipated event.

When the show's host Loni Love asked: "Do you know anybody that you think is gonna go to this wedding?" she replied, "Yeah, I'm going... I don't know if I should've said that!"

As far as who else was attending, she added: "Well us five Spice Girls... why am I so honest?"

According to the Daily Mail, Prince Harry met the Spice Girls in 1997 after attending one of their concerts. He would have been around 13 at the time. Meghan Markle is reportedly also a fan.

When asked if the five-girl group — Mel B, Mel C, Emma Bunton, Geri Horner, and Victoria Beckham — will perform at the wedding reception, Brown responded: "This is where I'm just like... I need to go. I'm going to be fired!"

While the former pop star didn't reveal much about the invitations themselves, she added: "It was proper. I'm not saying any more!"

The couple, who announced their engagement in November, will marry on May 19 at at St George's Chapel, Windsor Castle.

The chapel, shown below, can accommodate 800 guests — a much smaller venue than the 2,000-capacity Westminster Abbey, where Prince William and Kate Middleton married.

st george's chapel

Here's a look inside St George's Hall, where Prince Harry and Meghan Markle will hold their reception:

st george's chapel windsor castle

The Royal Family will pay for the wedding, including the church service, music, flowers, and reception.

The couple are reportedly planning the wedding themselves, and want a "fun" event that the public can be involved in. It's likely to be televised.

Prince Harry's communications secretary Jason Knauf said: "They will be making sure it reflects who they are as a couple."

He added that Windsor is a "very special place" for Harry and Meghan, who have spent time there during their relationship.

SEE ALSO: Prince Harry and Meghan Markle are planning their own 'fun' wedding at Windsor Castle in May 2018

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0 Narcissists often recruit people called 'apaths' to help with their games — here's why they're dangerous

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apath

  • Narcissists sometimes recruit people to help them tear down their victim's self esteem.
  • These people are called "apaths" and they are completely indifferent to the victim's suffering.
  • Sometimes they genuinely don't care, and other times they go along with the abuse because they don't want to be the target themselves. 
  • It just shows that you can't trust someone else's social circle to help you work out what's really going on.


Defining someone's personality is complicated. There are so many nuances in the ways people behave, and why they behave the way they do, that it isn't always appropriate to give someone a specific label — even mental health professionals and psychologists can struggle.

In a very broad sense, empathy can be a defining quality for personality type. On one end of the scale you have empaths, who are highly sensitive and very in tune to other people's emotions. On the other end, you have people who are devoid of empathy, such as sociopaths and narcissists.

To further complicate things, there are people who are capable of feelings, but just don't care enough to use them. These people are called "apaths."

People with Dark Tetrad personality traits — sadism, Machiavellianism, psychopathy, and narcissism — play games with their partners to break down their self esteem. To succeed, they sometimes recruit helpers to help control and manipulate their partners. Apaths fit this role very well.

Shannon Thomas, author of "Healing from Hidden Abuse: A Journey Through the Stages of Recovery from Psychological Abuse," told Business Insider an apath is someone who is apathetic to the harm in their social circle, particularly if someone is being manipulative, hurtful, or abusive. Their role, she said, is critical to the narcissist's game.

"An apath is the wing-person to a narcissist and plays a key role in normalising the toxic individual and their harmful behaviors towards others," she said. "A narcissist must have apaths in their life to keep the facade of social normalcy going. Apaths create the illusion that a narcissist has friends, is well-liked and can get along with everyone, except the target of abuse."

Rather than standing up for the victim, or giving them support in the fact they are being mistreated, the apath will instead be completely indifferent to their suffering. When challenged, they come up with excuses and say things like "it's not my battle," or "well, they don't treat me that way."

By minding their own business, they are effectively being a pawn on the narcissist's gameboard, making the victim believe they must be going crazy.

In some online forums, apaths are known as "flying monkeys," like the Wicked Witch's helpers in "The Wizard of Oz." They do all the narcissist's dirty work behind the scenes while the narcissist can sit back and watch.

"Many apaths are also hidden abusers themselves and they will cluster together in family and friend groups to keep each other's secrets," Thomas said. "Another type of apath believes it is better to join the abuser in their games than ever run the risk of becoming a future target of the narcissist."

In other words, apaths recruit an avoidance strategy and a "rather you than me" mindset to stay in the narcissist's good books. This makes them particularly dangerous, because there's no way to tell where their limits are. Studies have shown how people can blindly follow orders and become agents in a terrible, destructive processes as as result.

If you feel something is wrong with how you're being treated, trust your gut. You can't always depend on someone's social circle to stand up for you, as it could be full of apaths. Instead, familiarise yourself with the red flags someone is bad news, and look out for yourself.

SEE ALSO: Empaths and narcissists make a 'toxic' partnership — here's why they're attracted to each other

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0 3 crypto exchanges are planning to hire more than 1,000 staff - but it's not going to be easy

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FILE PHOTO - A monitor shows various cryptocurrencies' exchange rates against Japanese Yen including NEM coin (middle in the top) at 'nem bar', where customers can pay with NEM coins, in Tokyo, Japan January 29, 2018. REUTERS/Kim Kyung-Hoon

  • A slew of crypto exchanges are looking to hire, with Coinbase, Kraken, and Circle preparing to double their head count in 2018.  
  • Between them, they're looking to add around 1,250 staff. 
  • "There is a significant shortage of people who have expertise and acumen in this space," said Mike Poutre, the chief executive of The Crypto Company, a crypto market structure firm.

 

If you know someone looking for a job in the crypto, tell them the exchanges are hiring en masse. 

Exchanges - the gate keepers of the crypto world where buyers and sellers come together and tokens change hands -- struggled to shepherd a niche market into the mainstream during the crypto boom of 2017. 

At the end of 2017 - when bitcoin was trading close to $20,000 - 24-hour trading volumes across the cryptocurrency market soared as high $70 billion. At the same time, hundreds of thousands of new users jumped on the bandwagon. This precipitated countless exchange outages and even forced a handful of exchanges to close their doors to new users

Volumes have since come back down to Earth since the beginning of 2018. Still, at around $20 billion, they are still four times higher than they were in November of last year. But the relative calmness of the market has provided a chance for crypto exchanges to take a breath and ramp up hiring. 

Coinbase, Kraken, and Circle, which recently announced its  acquisition of crypto exchange Poloneix, are all looking to double their headcount in 2018. Many of those positions will be in the back office, working on building out systems to fend off the type of outages that were wide-spread in 2017. Bulking up customer service teams is another priority. 

"We're effectively doubling the numbers in terms of headcount, from roughly 250 to 500," Dan Romero, VP and general manager at San Francisco-based Coinbase, told Business Insider. 

The company has more than 50 job posts on LinkedIn, spanning positions from compliance to tech to customer services to human resources. 

It's the same story over at Kraken, another San Francisco exchange. A person familiar with the company's operations said it is on the fast track to 1,000 employees and it's prepared to add 800 people to its staff in 2018. 

Sean Neville, the cofounder of Circle, told Business Insider that the company, which has under 200 employees, is set to double its head count within the year. 

"There is some work to do in addressing customer support requests and technical issues," Neville said. 

There's no doubt that this will be a tough feat, especially considering how rare crypto and blockchain talent is.

"There is a significant shortage of people who have expertise and acumen in this space," said Mike Poutre, the chief executive of The Crypto Company, a crypto market structure firm. "A lot of them who are well-versed in these topics are pretty financially independent."

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0 An insane photo shows the 'Beast from the East' cold weather system engulfing London — and it made the front page of half the newspapers in Britain

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snow photo london

  • A police helicopter captured the perfect photo of wintry weather striking London.
  • Its part of a broader phenomenon which has hit all of Europe with intense cold.
  • It made the front pages of 5 national newspapers in the UK.


An incredible photograph taken from a police helicopter shows the moment a freezing cold weather system hit London with its worst snow and cold in years.

The image, taken on Tuesday afternoon, shows a huge cloud formation moving over the centre of the city, partly obscuring its skyline.

The cold air, which originated over Siberia but moved west due to unusually warm weather over the North Pole, has earned the nickname "The Beast from the East" in Britain.

Familiar buildings like The Shard, western Europe's tallest skyscraper, and other landmarks in London's main business area could just about be identified in the image.

London snow photo with labels

It was posted to Twitter by the National Police Air Service, which operates a helicopter over London that helps with searches, reconnaissance and, on the odd occasion, taking amazing pictures.

The photograph was taken over Hampstead, a northerly area of London, and shows the view south towards the centre.

The officers in the helicopter were on their way to another task at the time, and did not take off specifically to take pictures of the weather.

They also recorded video of the snowy front moving through the city:

The photo encapsulated the gravity of the weirdly cold and snowy weather engulfing Britain, much of Europe, and especially London, where all the national newspapers are produced.

As a result, it produced the relatively rare spectacle of the same image being used on the front page of half of the national papers on the newsstand:

 

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0 Liberals' budget doubles down on the voters they can't afford to lose: women

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Election Debates 20171130

Finance Minister Bill Morneau's third budget included measures aimed at one of the key constituencies in the Liberals' 2019 re-election campaign: women.

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0 Budget says some paper currency will no longer be legal tender

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$1000 note

Buried deep in the 367-page budget, the Liberal government announced Tuesday some paper currency will no longer be accepted as legal tender.

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0 A 36-year-old in charge of $135 billion shares his 'awkward' advice for making it to the top — and it involves going against your instincts

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Malcolm Smith JPMorgan Asset Management

  • Malcolm Smith is head of a group of which manages $135 billion of assets at JPMorgan Asset Management.
  • Smith was the youngest ever managing director at the firm, aged 30.
  • He told Business Insider that the key to his success is not being afraid to "ask the difficult questions."



LONDON — Aged just 30, Malcolm Smith became Blackrock's youngest managing director.

Six years and two children later he now oversees JPMorgan Asset Management's $135 billion international equity group, a major part of the $1.7 trillion business.

One of the keys to this rapid rise, Smith told Business Insider, is the ability to know when to ask the "awkward" questions of his bosses.

"I'm willing to ask the difficult questions, address the big issues, and own them and deal with them," Smith told Business Insider when asked what he puts his success down to.

"When younger people come into the industry, there's always this sort of feeling that you don't know as much as senior and more experienced people. That's normally absolutely true by the way, but there's a happy balance between keeping your mouth shut and listening [and speaking up]."

"You don't learn too much by opening your mouth. Obviously, you know what you know, so you need to listen a lot, but also ask the right questions and be willing to ask the awkward question."

Having started his career in 2004 at Merrill Lynch Asset Management, Smith became a Blackrock employee after its acquisition in 2006. He eventually rose to become a managing director.

Smith's words echo those of a former boss, Michael Barakos, who in 2016 praised Smith's "straight talking and pragmatic" approach to his job when he was named one of Financial News' rising stars of asset management in 2016.

Not only is asking difficult questions and speaking up a good trait to have, but so too is the ability to have a sense of perspective and see the bigger picture, Smith believes.

"Sometimes it is just being willing to think about those basic things, then worry about the problems and own the problems. Think through every angle of a problem," he said.

Smith also advises aspiring asset managers to "act as though you were the business owner, even if you're not" when looking at potential stocks to buy.

"You've got to ask 'If I was in charge, what would I do? What would I worry about? Have we thought about that?'" — Smith told BI.

"Oftentimes, that's been helpful. Everyone always assumes someone else is worrying about it, but most organisations don't have people who just sit around worrying about things."

It may seem obvious, but Smith also encourages people looking to make it in the industry to actually care about what they're doing, and care for the people they're working for, rather than simply doing a job.

"You have to care, and want to do well. You don't want to let people down, you don't want to let you clients down, your colleagues down, and so worrying and caring about that business and all the different challenges it faces from every angle has been a big thing."

Smith also believes that everybody needs a healthy dose of luck — especially when it comes to who you end up working with — is a big determinant of anybody's success.

"One of the key things for me is that I've generally had really good managers — I've been very lucky in that regard — who have been able to give me opportunities and support, and sometimes take risks on me."

"If you're pretty young, and people are moving on your responsibilities, you hopefully deliver, but until you put someone in charge, you never know." 

SEE ALSO: The head European strategist at JPMorgan's $1.7 trillion asset management arm tells us the biggest issue for global markets in 2018

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0 These 2 charts explain what could happen in Italy's upcoming election

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Italy Europe flags car driving

  • Italy's general election is held on Sunday.
  • HSBC's Fabio Balboni argues that polls point to no clear winner in both chambers of Italy's parliament.
  • Two charts help illustrate what is going in the election, and what could happen.


With Italy's general election now less than a week away, the outcome is no more clear than it has been in the months leading up to the vote.

The centre-left coalition of Matteo Renzi's Democratic Party, the populist Five Star Movement, and the right wing bloc comprising Silvio Berlusconi's Forza Italia and the far-right Lega Nord could all end up running the Italian government in the coming weeks.

However, according to a note from HSBC circulated to clients this week, the most likely outcome in the election is a hung parliament, which could — in theory at least — lead to another election.

It seems likely, HSBC says, that Berlusconi's centre-right coalition will be the biggest bloc, but will fall short of having enough seats in both houses of the Italian parliament to govern.

"According to polls, it should get about 36% of the votes (source: Termometropolico, 17 February). Populist party Five Star Movement (5SM) would get about 28% and the centreleft coalition, led by current ruling party Partito Democratico (PD), about 26%," the note by Fabio Balboni says.

"The centre-right coalition, however, would still fall short of an absolute majority of seats in both houses of parliament. A possible grand-coalition – including PD, FI and all other centrist parties in the centre-right and centre-left coalition – would also fall short of a majority."

The chart below shows how things stand according to the most recent polls — polls are banned in Italy in the immediate run-up to elections, so the latest data comes from February 17.

Italy election polls

Should this hung parliament transpire, Balboni says, there will be several questions to ask on the morning of March 5.

"These are if the centre-right gets a majority of seats, and if so, who gets the most votes between Forza Italia and the Northern League," he writes.

"If no one gets a majority, key will be whether the centrist mainstream parties have enough seats to be able to form a grand coalition (or 'technical' government, which to us means the same as the parties supporting it would be the same)."

Here's Balboni's chart:

Italy election flowchart

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0 Theresa May is ready to reject the EU's Brexit divorce deal over Irish border demands

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Theresa May

  • Theresa May is preparing for a "robust" fight-back against the EU's insistence that Ireland could legally be forced to remain in a customs union after Brexit.
  • Business Insider reported yesterday that a draft Withdrawal Bill published today will include a legal commitment to prevent a hard border in Ireland.
  • Downing Street is reportedly ready to reject the deal.


LONDON — Theresa May is preparing for a "robust" fight-back against the EU's insistence that Ireland could legally be forced to remain in a customs union after Brexit, as senior Brexiteers reacted with fury to the proposals.

The EU will today publish a draft withdrawal agreement which would enshrine the terms of Britain's Brexit divorce deal into law.

Business Insider reported yesterday that the document will include a legal commitment to prevent a hard border in Ireland, including a "fall-back" option which keeps Northern Ireland in the customs union even if the rest of the country leaves.

A senior source close to Downing Street told the Times that the demands would be rejected. "We are fully committed to implementing the December agreement but the EU should be absolutely clear that the prime minister is not going to sign up to anything that threatens the constitutional integrity of the UK or its common market."

The government will reportedly also reject the proposal that the European Court of Justice should be able to enforce the agreement.

"This is a draft negotiating position by the EU and not — as some would like you to believe — a final, binding text," the source added.

The December accord struck between EU and UK negotiators on the terms of Britain's withdrawal included a "guarantee" from the UK to avoid a hard border in Ireland, including a provision to maintain regulatory alignment and avoid border checks on the island whatever the outcome of the Brexit deal.

The EU's approach leaves the prime minister in a difficult position. She has committed to leaving the EU customs union, but that approach would mean border checks between Northern Ireland and the Irish Republic.

Senior Brexiteers reacted with fury to the perceived intrusion on internal UK matters. Former Brexit minister David Jones accusing the EU of trying to "annex" Northern Ireland on BBC Radio 4's Today programme, describing the proposals as "completely unacceptable."

The proposals sparked fury among the Democratic Unionist Party, the Northern Irish party which props up May's minority government in parliament. The pro-Unionist party is opposed to any deal which would split Northern Ireland from the rest of the UK. 

"This fundamentally breaches the understanding reached in December and would undermine the constitutional status of Northern Ireland in the Belfast Agreement," Pro-Brexit DUP MP Sir Jeffrey Donaldson told the Belfast Telegraph.

"If the EU or Dublin believes the UK Government will be signing up to a border in the Irish Sea, they are deluded."

The news also came after a document leaked to Sky News showed that Boris Johnson had raised the prospect of introducing a hard border in Ireland. He suggested the government's task was not to maintain "no border" in Ireland, but to prevent it from becoming "significantly harder."

In November last year, Johnson insisted to MPs that "there can be no return to a hard border."

"That would be unthinkable. It would be economic and political madness," he said.

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0 North Pole thaws mid-winter as temperatures 'smash' records in the Arctic

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Arctic Permafrost

Experts say 'extreme' temperatures caused the North Pole to thaw briefly over the weekend.

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0 What's fuelling the potential bitcoin mining boom in Canada

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DMG2

Cheap, reliable power has foreign bitcoin miners calling Canadian utilities and energy companies in hopes of cashing in on the cryptocurrency craze.

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0 Craig “Satoshi” Wright Sued for Billions

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0 US' point man on North Korea calms rumors surrounding abrupt resignation, but worries in the State Department still remain

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Joseph Yun

  • The US's point man on US-North Korean relations is expected to resign due to personal reasons.
  • Joseph Yun's resignation sparked rumors of policy differences with the Trump administration.
  • Despite the circumstances of Yun's resignation, current and former officials are growing concerned for the State Department.


The departure of the point man on US-North Korean relations resounded across foreign policy circles on Monday, in what appears to be another setback for US diplomatic outreach on the Korean peninsula.

Joseph Yun, the State Department's special representative for North Korea policy, announced his resignation by the end of this week due to personal reasons.

"I thought this was a good time [to retire] in many respects, and I've been doing this work since October 2016, so it's been a while," Yun told South Korean news agency Yonhap News.

But rumors of Yun's discontent abounded due to the timing of his departure. Yun's resignation followed the scuttled  nomination of Victor Cha — the former director for Asian affairs for the National Security Council — for US ambassador to South Korea in late-January.

Victor Cha

Cha, who is heralded as a leading expert in South Korea, was believed to have partly been nixed from the running after voicing concerns over the White House's policy on North Korea. Cha's expected position has been unfilled for over a year and is currently held in the interim by chargé d'affaires Marc Knapper.

Yun addressed the rumors and denied leaving the department due to policy reasons: "I'm not leaving because of policy difference," Yun said to Yonhap News. "I wanted to emphasize that."

Despite sources saying Yun may have expressed "deep frustration" over the Trump administration casting a shadow over the State Department in matters relating to North Korea, Yun is believed to have shown interest in stepping down since last year, according to Yonhap News. Secretary of State Rex Tillerson is thought to have tried preventing Yun from leaving, but ultimately gave in.

Yun noted in the report that he was optimistic by the recent interest in dialogue by the US and North Korea, and wished the best for the State Department.

"I'm very hopeful about talks," Yun said to Yonhap News. "I hope there is a good dialogue, there is a peaceful resolution, improvement in the security climate on the Korean peninsula."

Regardless of the circumstances for Yun's departure, questions remain whether the vacancies at the State Department has left the US ill-equipped to handle new developments on the Korean peninsula.

FILE PHOTO: U.S. Secretary of State Rex Tillerson adjusts his headphone during a news conference in Lima, Peru, February 5, 2018. REUTERS/Guadalupe Pardo

Mintaro Oba, a former State Department diplomat involved in Korean affairs, said the vacancies were alarming and should be filled soon.

"I have confidence in all of them, but it does matter when important positions go unfilled," Oba told Business Insider. "The US is not as empowered as it should be and it sends a signal that we don't take these roles seriously."

Though the State Department hushed some critics after filling some of the more glaring vacancies last year, it still faces uncertainty due to its budget for the next fiscal year, which is expected to be cut by billions of dollars.

Tillerson's direction for the State Department has concerned foreign policy experts and officials who have voiced their worries. Murmurings around the State Department suggests "morale is very, very low," Oba said.

Despite concerns within the State Department and from foreign policy experts, State Department spokeswoman Heather Nauert suggested that the agency was still capable of addressing North Korea following Yun's resignation.

"To imply that Ambassador Yun is the only one who is capable of handling North Korea would simply be wrong," Nauert said. "We have a deep bench of very experienced people."

SEE ALSO: White House officials are reportedly tired of hearing about a 'bloody nose' strike against North Korea

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0 The EU is to call for Northern Ireland to remain wedded to customs union and single market rules after Brexit

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Theresa May Leo Varadkar

  • The EU will call for Northern Ireland to stay in its customs territory and stick to single market rules after Brexit if Theresa May cannot find a way of avoiding a hard border.
  • The contentious fallback option will be revealed in the withdrawal agreement legal text tomorrow.
  • Brussels wants a "common regulatory area" on the island of Ireland if the UK government as the fallback option, an official who has seen the text has told Business Insider.
  • The proposals come as a leaked letter by Boris Johnson admits Brexit may cause a hard Irish border.

 

LONDON — The European Union will propose keeping Northern Ireland within its "customs territory" and closely aligned to its single market rules after Brexit, in the text of the withdrawal agreement due to be published today.

A well placed EU source, who has seen the text, has told Business Insider that the EU will suggest a "common regulatory area" with "no internal barriers" on the island of Ireland, if the UK government is unable to produce a workable solution to avoiding a hard border between Northern Ireland and the Republic.

The highly-anticipated document translates into legal text the agreement reached by British and EU negotiators on the first phase of Brexit negotiations in December.

The text, which is set to be up to 200 pages long, will not explicitly call for Northern Ireland to stay in the single market if the UK government fails to come up with a workable solution, the source told BI, but will lay out areas where it could stay fully aligned with single market rules in order to maintain frictionless trade.

The European Commission is set to publish the document at around 10:00 (GMT) ahead of a press conference from the EU's chief Brexit negotiator, Michel Barnier.

Prime Minister Theresa May has repeatedly insisted that Britain will leave both the customs union and single market as part of its imminent departure from the EU.

However, British MPs, EU officials and the Irish government have warned the prime minister that this will make physical infrastructure on the border between Northern Ireland and the Republic inevitable.

The legal text published today will suggest keeping Northern Ireland under the EU's customs code and closely wedded to single market rules after Brexit if May is unable to come up with a way of avoiding a hard border.

It will make clear that this course of action is the default option — or the "backstop" as its known in Brussels — and other solutions to avoiding a hard border remain available, such as a comprehensive UK-EU free trade agreement.

This proposal will meet strong opposition from the Democratic Unionist Party of Northern Ireland, which currently props up May's Conservative government.

The Arlene Foster-led party opposes any Brexit deal which will see Northern Ireland closely-wedded to EU rules and very nearly scuppered the December agreement over concerns about regulatory alignment.

It will also irk pro-Brexit members of May's Cabinet, like Boris Johnson and Liam Fox, who want to see the whole of Britain diverge from EU rules and regulations after Brexit.

The proposals come as a leaked letter revealed that the foreign secretary Johnson has privately admitted that Brexit could cause a hard border with Ireland.

Johnson privately told May that preventing a hard border should not be the main aim of the UK government.

The foreign secretary appeared to row back on the UK government's previous commitment to maintaining "frictionless" trade between Northern Ireland and the Republic in an interview with BBC Radio 4 on Tuesday morning, saying that only "excessive" checks can be avoided.

"We think we can have very efficient facilitation systems to make sure there's no need for a hard border and excessive checks on the frontier between Northern Ireland and the Republic," the foreign secretary said.

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0 Ripple Price Prediction: XRP Pushed Back to Dark Horse Status

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Ripple News Update
Tuesday morning brought some good news for the cryptocurrency market, but it was a mixed blessing for Ripple.

Let me explain...

The total cryptocurrency market cap rose 6.2% overnight, bringing in fresh investment from fiat currencies. That’s the good news.

However, Ripple prices barely jumped one percent over the same time period. Investors concentrated their interest on Bitcoin, which is why BTC prices advanced more than seven percent.

As I said before, this moment is bittersweet for XRP investors. On one hand, the XRP to USD.

The post Ripple Price Prediction: XRP Pushed Back to Dark Horse Status appeared first on Profit Confidential.

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0 Litecoin Price Prediction: LTC Price Dips After LitePay Launch Disappoints

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Daily Litecoin News Update
It’s somewhat distressing that Litecoin is the only crypto in the top 10 that’s trading in red on Tuesday morning. We had anticipated the price drop, but not for the reason under discussion today. LTC prices have taken a plunge in the aftermath of a disappointing "LitePay" launch.

A fully-dedicated merchant processor for Litecoin, LitePay was due to be released on Monday. While it did release,.

The post Litecoin Price Prediction: LTC Price Dips After LitePay Launch Disappoints appeared first on Profit Confidential.

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0 The 2018 budget is a pitch to Canadian women voters. But is it enough?

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FedBudget 20180227

If not for women, the Liberals would be in serious trouble. And not only because they comprise half the cabinet: the support of women is carrying this government through the difficult midterm portion of its mandate. In that sense, it seems only right the Liberals should pay special heed to equality.

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0 Budget 2018: Liberals spend billions to close gaps for working women, Indigenous families

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FedBudget 20180227

If it's good for women, it's good for Canada's economy. That's the overarching theme of Finance Minister Bill Morneau's 2018 federal spending plan, which aims to boost productivity and offset an aging population by bringing more women into the workforce in sectors ranging from science to skilled trades.

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0 Liberal MP apologizes for inviting convicted would-be assassin to Trudeau's India receptions

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Trudeau India 20180221

The Liberal MP who invited a man convicted of attempted murder to dine with Prime Minister Justin Trudeau during his trip to India has apologized and resigned from his party's Pacific Caucus.

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0 Trudeau stands by government official floating Atwal theory

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Commons 20180227

Prime Minister Justin Trudeau is standing by a senior government official who floated the theory that rogue political factions in India orchestrated the embarrassing invitation of a would-be political assassin to a formal dinner to make the Canadian government appear sympathetic to Sikh extremism.

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0 Budget 2018: Highlights of Bill Morneau's 'equality + growth' budget

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FedBudget 20180227

Finance Minister Bill Morneau has tabled his third budget. Here is a look at the highlights, new measures and key numbers.

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0 RCMP getting $10 million to re-activate 'unfounded' sexual assault cases

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RCMP Harassment 20161006

The 2018 federal budget is taking political cues from the #MeToo and #TimesUp movements, setting aside $187 million over the next five years to combat gender-based violence, harassment and discrimination.

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0 Budget boosts funding for First Nations self-government, Indigenous services

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Indigenous Services 20180123

The federal budget provides new dollars for First Nations to move beyond the Indian Act while also continuing investments aimed at closing spending gaps in areas long seen as irritants in the relationship between Canada and Indigenous peoples.

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0 Federal budget shores up cyber defences but is silent on new jets and warships

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Cyber sleuthing

The Liberals' latest budget focuses on ones and zeros over tanks and troops by pouring hundreds of millions of dollars into new and improved cyber and national security defences.

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0 Passive investment income tax changes target only richest corporations, Morneau says

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FedBudget 20180227

After its initial proposals for private corporations tax reform were panned last year as an assault on small businesses, the Liberals have unveiled revamped changes in Tuesday’s budget they say will target only the wealthiest three per cent of private corporations.

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0 Phoenix fix approaching $1B as feds look at scrapping system

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Phoenix Pay Protest

After pouring more than $900 million in taxpayer money into the beleaguered Phoenix pay system, the federal government is looking at eventually scrapping the software altogether.

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0 'We're all in this together': federal minister urges Sask. to sign climate plan

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carbon sask

The Federal Ministry of Environment says the province could lose its share of the money from Ottawa's $1.4 billion clean energy fund if it refuses to sign on to the Pan-Canadian plan for climate action.

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0 How to fix Phoenix: Put payroll back in local hands, Australian experts say

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Veronica Pyke, nurse's union organizer

When faced with a payroll fiasco similar to Canada's situation with the Phoenix system, the Australian state of Queensland chose an expensive strategy, but one observers say was successful: they put payroll back in local hands.

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0 NATO researcher warns of Russian interference in 2019 Canadian election

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Russia Defenders of the Fatherland Day

A leading NATO researcher says Canada should assume Russia will attempt to interfere in the 2019 federal election because that would serve the Kremlin's purpose of helping destabilize the military alliance.

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0 Astronauts, cosmonaut touch down on Earth after months at Space Station

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A capsule carrying two U.S. astronauts and a Russian cosmonaut from the International Space Station landed in snowy Kazakhstan on Wednesday after a five-and-a-half month mission, a NASA TV live broadcast showed.

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0 Family blames iPhone for sparking fire that destroyed Langley farmhouse, demands $600K from Apple

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Cathy and Ian Finley of Laurica Farm in Langley B.C.

A B.C. couple are demanding Apple pay $600,000 in uninsured losses after they were forced to close their farm business following a devastating house fire that they claim was sparked by a faulty iPhone.

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0 Hundreds of 'creepy' Instagram accounts target youth to grow online audience

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I Know Who You Are

A Saint John-area mom found her 11-year-old son corresponding with an Instagram account that requested private messages from children at River Valley Middle School and Beaconsfield Middle School.

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0 Optimistic cows more likely to take a chance, UBC researchers find

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Marina Von Keyserlingk

New research out of the University of British Columbia finds that calves are born with more optimistic or pessimistic personalities, just like people.

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0 Teen sexting may be more common than you think

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SExting and teens

A sizable number of young people under 18 engage in sexting, the practice of electronically sharing sexually explicit material, with an estimated one in seven sending sexts and one in four receiving them, a U.S. study suggests.

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0 10 things in tech you need to know today (AMZN)

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Snapchat hotdog

Good morning! Here is the tech news you need to know this Wednesday.

1. Amazon will spend a reported $1 billion (£719 million) to acquire doorbell startup Ring. Ring offers a video-enabled doorbell that beams footage of whoever's outside to the homeowner's phone.

2. Facebook executive Andrew Bosworth has disputed claims that Donald Trump's camp paid more for Facebook ads during the 2016 election campaign than Hillary Clinton's. Bosworth shared a chart showing Trump's cost-per-impression surged in the final weeks.

3. Snapchat downloads surged after its redesign, despite massive criticism over the changes. Snapchat's average growth in first-time installs was up 55% week on week, when comparing the week before and after the redesign.

4. Bill Gates said cryptocurrencies had "caused deaths in a fairly direct way" unlike almost any other technology. In a Reddit AMA, Gates noted cryptocurrencies were used to buy drugs, launder money, and fund terrorists.

5. Ex-Twitter CEO Dick Costolo has shut down his new venture, a fitness app called Chorus. The idea was that a group of friends would sign up and declare their fitness goals to motivate each other, but the app struggled to keep users beyond a few weeks.

6. Apple cofounder Steve Wozniak said he had $70,000 (£50,000) in bitcoin stolen from him. A scammer paid him for the bitcoin via a credit card, but the card number turned out to be stolen.

7. Secretive data firm Palantir has been quietly using New Orleans as a testbed for its "predictive policing" technology, according to The Verge. The tool traced gang members' connections to other criminals.

8. Uber executive Frances Frei, who was hired to fix the company's culture, is leaving after less than a year. Now that ex-CEO Travis Kalanick is out, many of the company's cultural problems have seemingly been resolved.

9. Google said it's complied with about 43% of 2.4 million "right to be forgotten" takedown requests received over three years. Most requests come from individuals, but a growing number come from celebrities and politicians.

10. Moonfruit cofounder Wendy Tan White may set up her own artificial intelligence and deep tech fund after leaving as a partner at BGF Ventures. White said AI will shake up computing in the way mobile did.

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0 DIGITAL ENGAGEMENT AND THE CONNECTED CAR: How cars are transforming into digital platforms and opening an entirely new channel for service providers

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monthlytimespentThis is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.

Media consumption is at a saturation point. After rising for much of the last decade, total digital time spent has been nearly static since the start of 2015. As a result, it's increasingly difficult for content producers to win over minutes of consumers' time.

One platform, though, is poised to move the needle and provide a new avenue to boost digital time spent: the connected car. Consumers will spend more time in cars that offer a range of connectivity options, giving them the chance to use the services they know and love in the car.

The key question for service providers is how to take advantage of the connected car by integrating their services into this growing platform.

In a new report from BI Intelligence, we provide a roadmap for service providers looking to offer their services in the car. We analyze media consumption and overall digital time spent trends, and then forecast the growth of the connected car market in relation to the digital time opportunity. Finally, we propose potential routes that service providers can take to get into connected cars and ride-hailing vehicles.

Here are some of the key takeaways:

  • Digital time spent has become nearly static; however, people are spending more time in cars every year, and the growth of connected cars will likely turn these extra minutes into digital time.
  • Getting services into the car is more complicated than ever before, and will require service providers to take different approaches to integration.
  • The introduction of autonomous vehicles and the growth of ride-hailing services in the coming years will completely change what people can do in cars, which will alter the requirements for digital services in these developing platforms.

In full, the report:

  • Analyzes trends in digital time spent and the growth of connected cars.
  • Explains the connected-car ecosystem, where service providers fit in, and what relationships they need to succeed in the space.
  • Provides a detailed explanation of the future of connected cars, which will expand media consumption and offer new e-commerce and payments opportunities.

Interested in getting the full report? Here are two ways to access it:

  1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> Learn More Now
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0 10 things you need to know in markets today

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ri Lanka's Special Task Force (STF) members look on at a rescue demonstration during the 35th anniversary in Kalutara, Sri Lanka February 27, 2018.

Good morning! Here's what you need to know in markets on Wednesday.

1. The European Union is to propose keeping Northern Ireland within its "customs territory" and closely aligned to its single market rules after Brexit, in the text of the withdrawal agreement due to be published on Wednesday. A well placed EU source, who has seen the text, told Business Insider that the EU will suggest a "common regulatory area" with "no internal barriers" on the island of Ireland, if the UK government is unable to produce a workable solution to avoiding a hard border between Northern Ireland and the Republic.

2. More than 5,500 retail jobs are at risk as two of the High Street’s best-known names teeter on the edge of collapse. The Guardian reports that Toys R Us, with more than 3,000 staff, is set to go into administration in the next 24 hours, and 11th-hour rescue talks designed to shore up Maplin are also said to have broken down, meaning that the 200-store electronics chain also faces imminent bankruptcy.

3. Analysts think Comcast's surprise $30.7 billion (£22.1 billion) bid for Sky has set off a battle between 21st Century Fox, Comcast, and Disney. The US entertainment giant Comcast surprised global stock markets on Tuesday with a bid for Sky, Rupert Murdoch's European pay-TV giant.

4. Chinese electric vehicle startup Nio has hired eight banks including Morgan Stanley and Goldman Sachs to work on a planned US stock market listing this year worth up to $2 billion (£1.4 billion), people with knowledge of the matter told Reuters. Other banks are Bank of America Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank, JPMorgan and UBS, said the people, declining to be identified as the deal details are not public.

5. Asian shares faltered on Wednesday and bonds were sold off as risk appetite soured, after comments from new Federal Reserve Chair revived fears about faster rate rises in the United States. Japan's Nikkei closed down 1.38%, while the Hong Kong Hang Seng index is down 1.29% at the time of writing (6.30 a.m. GMT/1.30 a.m. ET), and the Shanghai Composite is down 0.82%.

6. Amazon is acquiring Ring, a startup that makes a popular line of video-camera doorbells, in a $1 billion (£720 million) deal that could help Amazon enmesh further into consumers' homes and lay the framework for a high-tech pipeline that delivers retail goods and groceries straight to them. The deal, which Amazon and Ring representatives confirmed to Business Insider on Tuesday, supplements the retail giant's growing selection of smart-home appliances, epitomized by its Echo line of smart speakers

7. Deutsche Bank has agreed to pay $240 million (£172 million) to settle private US antitrust litigation accusing it of conspiring with other banks to manipulate the Libor benchmark interest rate. The preliminary settlement with the German bank was disclosed in filings on Tuesday with the US District Court in Manhattan and requires a judge's approval.

8. Lithuania is betting that Brexit can help it become a global fintech hub, as the Eastern European country seeks to attract British companies setting up subsidiaries in the EU. Lithuanian MEP Antanas Guoga told BI: "I think [Brexit] is a big opportunity because we’re cost-wise a very competitive country, people are very diligent and hard-working, and, because of Brexit, a lot of companies are in a position to move out of the United Kingdom to make sure they’re safe and secure."

9. The new US tax law has taken a bigger bite out of Morgan Stanley's 2017 earnings than it initially expected and led its board to boost top executives' deferred compensation from prior years, the Wall Street bank said on Tuesday. After further analysis of the law's particulars, Morgan Stanley boosted its provision for income taxes by $43 million (£30.9 million), the bank said in its annual 10-K securities filing.

10. The owner of the microchip designer ARM has backed an apparent bid to create a new mobile network in the UK as operators prepare to connect millions more devices. The Telegraph reports that SoftBank, the Japanese mobile giant that swooped for ARM in a £24 billion takeover in 2016, has backed a venture that has registered to bid in Ofcom’s forthcoming auction of airwaves suitable for new 5G networks.

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0 Georgia Toffolo tells us why she's reclaiming politics from 'greying men' after Boris Johnson said she should become a Tory MP

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0 The first Tesla Model 3 reviews are coming in — and there's one thing everyone is talking about (TSLA)

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Tesla Model 3

  • "Build quality" is a term often used in the auto industry when assessing manufacturing capability.
  • Some observers have criticized the build quality of Tesla vehicles, most recently with the Model 3.
  • Tesla has at times struggled with manufacturing as the same level of the rest of the industry, but it usually improves its processes.

Since the Tesla Model 3 launched in July and started its uneasy path as a mass-market vehicle, Tesla watchers have been carefully scrutinizing the vehicle's quality.

Last April, Reuters reported that Tesla skipped the "soft tooling" phase, which is a pre-production process that helps automakers work out manufacturing problems before starting mass production. 

The company took a big risk by skipping this stage before commencing deliveries, and it has paid off. Holdups have kept Model 3 production well below its expected levels, with fewer than 3,000 cars officially delivered.

CEO Elon Musk has called this "production hell" and reminded everybody that no Tesla vehicle has enjoyed a smooth rollout. And naturally, all over the internet, there have been deep dives into how well the Model 3 is bolted together.

Tesla let us borrow a Model 3 for a few hours, and we gave it a good once-over. While there were some glitches here and there, the so-called build quality of our top-of-the-line vehicle — a press car — was good.

But what, exactly, is build quality? And why does it matter?

For many years, it wasn't the forte of US automakers. American cars may have looked cool, but when Japanese and European vehicles began to show up in real numbers in the US in the 1970s and '80s, US manufacturing started to look sloppy by comparison.

These days, build quality of American cars and trucks is generally excellent.

Tesla has been an exception, but the company is still relatively young. Ford and General Motors are each more than 100 years old, while Tesla has been around for just 14 years.

Build quality is both general and specific. If you look at a Tesla vehicle, the overall impression is usually pretty good. They're beautifully designed, with a vibe that's classic and futuristic.

But if you focus, you may notice body panels that aren't consistently spaced, known as "panel gaps." Or misaligned door handles. Or interior plastic components that look really plasticky. Or upholstery that's crinkled. Or other various minor components that aren't up to snuff for a vehicle that can cost $100,000.

On our Model 3 tester, for example, I was bothered by some steering-wheel stitching that was too far toward the back of the wheel.

Build quality tends to improve over time as a carmaker gets better at building its vehicles and learns from customer feedback.

Interestingly, Tesla has been somewhat immune from build-quality criticism because owners think of its vehicles as rolling technology, completely different from gas-powered cars, regardless of how well those machines are made.

We're under no illusions about Tesla's build quality — it's better than it once was, but it could be improved.

A comparable German or Japanese car creates a superior impression, and for some buyers, that will matter. But Tesla sold 100,000 vehicles last year and has a tremendous level of customers satisfaction.

So while the auto industry has across the board learned to respect build quality, Tesla has proved that it isn't the only thing that matters.

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0 'It's a big opportunity': Lithuania has a plan to benefit from Brexit

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Lithuania's fans wave flag and cheer on their team during their FIBA Basketball World Championship game against France in Izmir September 1, 2010.

  • Lithuania wants to become a fintech hub.
  • MEP who set up Blockchain Centre says Brexit is "a big opportunity" to attract businesses.
  • Thirty five companies applied to be licensed in Lithuania last year.
  • UK-headquartered startups Revolut and TransferGo have already chosen to set up EU subsidiaries in the Eastern European country.


LONDON — Lithuania is betting that Brexit can help it become a global fintech hub, as the Eastern European country seeks to attract British companies setting up subsidiaries in the EU.

"I cannot deny that," Marius Jurgilas, a member of the board of the Bank of Lithuania, told Business Insider when asked if Lithuania saw Brexit as an opportunity.

"We are not saying that we will be attracting top firms from the fintech hub of the world, which is and always will be London, to the new booming financial sector in Lithuanian, no," Jurgilas said. "But there is a huge flow of firms — and we want to participate in that flow — who want to hedge the risk of Brexit."

"This is the state of affairs that everyone has to deal with and we’re just part of the game," Jurgilas said.lithuania

Britain's future relationship with the European Union remains up in the air and finance firms fear they could lose passporting rights, which allow them to sell services across the 27 member bloc. To hedge against this risk, many businesses are setting up licensed subsidiaries in other EU countries.

Lithuanian MEP Antanas Guoga told BI: "I think [Brexit] is a big opportunity because we’re cost-wise a very competitive country, people are very diligent and hard-working, and, because of Brexit, a lot of companies are in a position to move out of the United Kingdom to make sure they’re safe and secure."

Guoga helped to set up a Blockchain Centre in the country's capital Vilnius last year, dedicated to exploring applications of the new technology that banks are excited about. The centre launched in January with the support of PwC among others.

'One of the most exciting fintech hubs in Europe right now'

Lithuania is an unlikely contender to become Europe's next fintech hub.

Unlike Paris or Amsterdam, it does not have a strong history of financial services. Unlike Berlin, Vilnius does not have startup scene of any international renown. The entire country has a population of 2.8 million, around a third of London.

TransferGo's CEO and founder Daumantas Dvilinskas.

But its pitch appears to be working. Invest Lithuania announced in January that 117 fintech companies are now operating in Lithuania, employing 2,000 people. It may not sound like a huge amount but the growth is impressive — 35 new businesses were registered in 2017.

Hot London-based banking startup Revolut and fellow UK startup TransferGo are among the fintech businesses to choose Lithuania. Revolut praised the country as "one of the most exciting fintech hubs in Europe right now" in a statement last year announcing they were applying for a banking license there.

"They recognise the opportunity of Brexit," TransferGo CEO Daumantas Dvilinskas told BI. Dvilinskas is originally from Lithuania but said he chose Vilnius for an EU office not just because of personal ties, but also because of its "innovative regulating body."

The Bank of Lithuania has a "business-friendly attitude," according to board member Jurgilas. The central bank has got the licensing process down to as little as three months, for example.

"We identified that the thing that is really tilting the scales in the decision-making process is time," Jurgilas said. "It’s not about monetary cost or regulatory burden, it’s about how much time do I have to invest to get a decision? Firms want certainty and quick decisions."

Other fintech-friendly initiatives include the central bank's regulatory "sandbox", where firms can try out innovative new business ideas with the regulators blessing, and a blockchain sandbox, dubbed LBChain, that will give companies a safe space to experiment with blockchain projects under the regulator's supervision.

Can Vilnius compete with Paris, Berlin, and Amsterdam?

Lithuania is not alone in looking to attract fintech business off the back of Brexit. Many European capitals are trying to woo businesses, with Paris lobbying particularly hard. Why should firms choose Vilnius?

"Being in the eurozone gives us the same status of Frankfurt," Guoga said. "We’ve got a lot of hard-working people with knowledge of fintech who are not costing as much as they would in other cities because of the living costs. The country is very clean. There’s a lot of different benefits and that’s why there’s only more and more people coming here."

Established players are also choosing Lithuania for development facilities, which helps create an ecosystem Guoga argued.

"I’m just in the blockchain centre here and I can see the building next to me is all filled by Barclays," he said. "Barclays has the biggest centre of development here in Vilnius. Further on I can see Nasdaq. A lot of the IT is all done from here.

"Having Barclays here, having Danske Bank, having Nasdaq here and having many many other startups and also big multinationals have cemented our place as a place for fintech development."

"I think we’ll be on target to do a lot more [e-money licenses] this year. The momentum is definitely there. We should aim to issue 100 a year as soon as possible. The demand is very wide."

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0 AI IN BANKING AND PAYMENTS: How artificial intelligence is cutting costs, building loyalty, and enhancing security across financial services

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maturity of AI solutions

This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here

Artificial intelligence (AI) is one of the most commonly referenced terms by financial institutions (FIs) and payments firms when describing their vision for the future of financial services. 

AI can be applied in almost every area of financial services, but the combination of its potential and complexity has made AI a buzzword, and led to its inclusion in many descriptions of new software, solutions, and systems.

This report from BI Intelligence, Business Insider's premium research service, cuts through the hype to offer an overview of different types of AI, and where they have potential applications within banking and payments. It also emphasizes which applications are most mature, provides recommendations of how FIs should approach using the technology, and offers examples of where FIs and payments firms are already leveraging AI. The report draws on executive interviews BI Intelligence conducted with leading financial services providers, such as Bank of America, Capital One, and Mastercard, as well as top AI vendors like Feedzai, Expert System, and Kasisto.

Here are some of the key takeaways:

  • AI, or technologies that simulate human intelligence, is a trending topic in banking and payments circles. It comes in many different forms, and is lauded by many CEOs, CTOs, and strategy teams as their saving grace in a rapidly changing financial ecosystem.
  • Banks are using AI on the front end to secure customer identities, mimic bank employees, deepen digital interactions, and engage customers across channels.
  • Banks are also using AI on the back end to aid employees, automate processes, and preempt problems.
  • In payments, AI is being used in fraud prevention and detection, anti-money laundering (AML), and to grow conversational payments volume.

 In full, the report:

  • Offers an overview of different types of AI and their applications in payments and banking. 
  • Highlights which of these applications are most mature.
  • Offers examples where FIs and payments firms are already using the technology. 
  • Provides descriptions of vendors of different AI-based solutions that FIs may want to consider using.
  • Gives recommendations of how FIs and payments firms should approach using the technology.

Interested in getting the full report? Here are two ways to access it:

  1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> Learn More Now
  2. Purchase & download the full report from our research store. >> Purchase & Download Now

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0 The 10 most important things in the world right now

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NASA International Space Station

Hello! Here's what's happening on Wednesday.

1. Special Counsel Robert Mueller is looking at the timing of US President Donald Trump's 2016 campaign. He is also looking at Trump’s possible business affairs in Russia before 2016.

2. The EU will propose Northern Ireland stay in its customs union after Brexit. The proposal is set to be published Wednesday, and will call for Northern Ireland to stick to single market rules if the UK can't find a way of avoiding a hard Irish border. 

3. Trump senior advisor Jared Kushner lost top-secret security clearance. Kushner was downgraded to "secret" from "top secret," preventing him from accessing some classified information.

4. North Korean leader Kim Jong Un may have used a fraudulent Brazilian passportThe passports for Kim and his father were reportedly used to apply for visas to visit Western countries in the 1990s.

5. The head of US national security said he hasn't been given authority to counter Russian cyberattacks. He said Trump would need to give him that authority and, until then, attacks would continue.

6. Australia's defense department is phasing out Chinese phonesThe department said the phones weren't a security risk but US intelligence officers recently said they could be conduits for foreign surveillance.

7. US mobile giant AT&T said it supports net neutrality and won't create internet "fast lanes." However, in the same statement it essentially said it wants to offer a form of faster service for some customers.

8. A US-Russian crew returned from a 5-month space mission. The three-person team had worked at the International Space Station, a $100 billion lab that flies about 250 miles (400 kilometers) above Earth. 

9. At least 15 people died after a 7.5-magnitude earthquake hit Papa New Guinea. Officials are still investigating reports of fatalities and are examining the extent of damage following the Monday quake.

10. Ford chose Miami as its development hub for its future self-driving fleetsThe carmaker is developing fully autonomous vehicles that could be used for robotaxi fleets or deliveries.

And finally...

30 cities around the world where expats earn more than $100,000 a year

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0 THE BLOCKCHAIN IN BANKING REPORT: The future of blockchain solutions and technologies

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Why Firms Use Blockchain 2x1This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.

Nearly every global bank is experimenting with blockchain technology as they try to unleash the cost savings and operational efficiencies it promises to deliver. 

Banks are exploring the technology in a number of ways, including through partnerships with fintechs, membership in global consortia, and via the building of their own in-house solutions. 

In this report, BI Intelligence outlines why and in what ways banks are exploring blockchain technology, provides details on three major banks' blockchain efforts based on in-depth interviews, and highlights other notable blockchain-based experiments underway by global banks. It also discusses the likely trends that will emerge in the technology over the next several years, and the factors that will be critical to the success of banks implementing blockchain-based solutions.

Here are some of the key takeaways from the report:

  • Most banks are exploring the use of blockchain technology in order to streamline processes and cut costs. However, they are also looking to leverage additional advantages, including increased competitiveness with fintechs, and the ability to use the technology to create new business models. 
  • Banks are starting to narrow their focus, and are increasingly honing in on tangible use cases for blockchain technology that solve real problems faced by their businesses. 
  • Regulators are taking an increased interest in blockchain technology, and they're working alongside major banks to develop regulatory frameworks. 
  • Blockchain-based solutions will start to emerge in different areas of financial services. The most successful solutions will solve specific problems for banks and attract a large enough network to create widespread benefits. 

 In full, the report:

  • Outlines banks' experiments with blockchain technology. 
  • Details blockchain projects at three major banks — UBS, Credit Suisse, and Banco Santander — based on in-depth interviews. 
  • Discusses the likely trends that will emerge in the technology over the next several years.
  • Highlights the factors that will be critical to the success of banks implementing blockchain-based solutions.

Interested in getting the full report? Here are two ways to access it:

  1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> Learn More Now
  2. Purchase & download the full report from our research store. >> Purchase & Download Now

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