cityam--2020-12-08--G4S agrees to Allied Universal sale in £3.8bn deal

Security group G4S has agreed to sell its business to US-based Allied Universal , in a deal that will value the company at £3.8bn .
Under the terms of the offer G4S shareholders will be entitled to receive 245 pence in cash for each G4S share .
Read more : Gardaworld jacks up offer for G4S as pursuit goes on The G4S directors consider the deal fair , and intend to unanimously recommend shareholders accept the offer .
G4S chief executive office Ashley Almanza said : “ G4S has been transformed into a focused global leader in security services with @ @ @ @ @ @ @ that is served by a dedicated and talented team of over 530,000 employees .
“ The combination of G4S and Allied Universal creates the global leader in security with over 750,000 employees , industry leading capabilities and unrivalled market coverage .
This unique and compelling combination will offer customers exceptional service and provides employees with an exciting future.
” Read more : G4S shareholders told to reject GardaWorld bid as it resumes dividend pay The deal will incorporate a new company , Allied Bidco , that will be indirectly controlled by Allied Universal @ @ @ @ @ @ @ G4S will create a security business with revenues of approximately $ 18bn .
The news follows months of offers made by Canadian firm Gardaworld for G4S .
Read more : G4S and Gardaworld trade blows as takeover spat continues Less than a week ago Gardaworld made another attempt to buy G4S , making an offer that valued the security business at £3.7bn .
The Canadian firm , which is significantly smaller than G4S , has raised the price of its bid four times since first approaching shareholders about a potential buy in the @ @ @ @ @ @ @ has remained adamant that Gardaworld ’ s offers have “ significantly undervalued ” the firm , which provides services such as prison management .
The dogged pursuit has at times descended into acrimony , with both sides seeking to convince shareholders of the weaknesses of the other .
Recently Gardaworld chief executive Stephen Crétier said : “ [ G4S ] Shareholders have a simple choice : remain invested in a company which has consistently failed them and the wider community for so many years , or realise their investment in cash , at @ @ @ @ @ @ @ Gardaworld even hit out at Allied Universal last month , after it revealed to also be in talks with G4S .
“ Unlike other real or imagined bidders , our financing is agreed , our offer is a matter of public record and our intent is serious , ” Crétier said in a statement .

G4S agrees to Allied Universal sale in £3.8bn deal
G4S, which runs security services, has been the subject of a long-running bidding war between two North American firms.
Security group G4S has agreed to sell its business to US-based Allied Universal, in a deal that will value the company at £3.8bn.
Under the terms of the offer G4S shareholders will be entitled to receive 245 pence in cash for each G4S share.
The G4S directors consider the deal fair, and intend to unanimously recommend shareholders accept the offer.
G4S chief executive office Ashley Almanza said: “G4S has been transformed into a focused global leader in security services with market-leading solutions and a blue-chip customer base that is served by a dedicated and talented team of over 530,000 employees.
“The combination of G4S and Allied Universal creates the global leader in security with over 750,000 employees, industry leading capabilities and unrivalled market coverage. This unique and compelling combination will offer customers exceptional service and provides employees with an exciting future.”
The deal will incorporate a new company, Allied Bidco, that will be indirectly controlled by Allied Universal. The combination of Allied Universal and G4S will create a security business with revenues of approximately $18bn.
A loss for Gardaworld
The news follows months of offers made by Canadian firm Gardaworld for G4S.
Less than a week ago Gardaworld made another attempt to buy G4S, making an offer that valued the security business at £3.7bn.
The Canadian firm, which is significantly smaller than G4S, has raised the price of its bid four times since first approaching shareholders about a potential buy in the summer.
Throughout, the G4S board has remained adamant that Gardaworld’s offers have “significantly undervalued” the firm, which provides services such as prison management.
The dogged pursuit has at times descended into acrimony, with both sides seeking to convince shareholders of the weaknesses of the other.
Recently Gardaworld chief executive Stephen Crétier said: “[G4S] Shareholders have a simple choice: remain invested in a company which has consistently failed them and the wider community for so many years, or realise their investment in cash, at a significant and highly attractive premium.”
Gardaworld even hit out at Allied Universal last month, after it revealed to also be in talks with G4S.
“Unlike other real or imagined bidders, our financing is agreed, our offer is a matter of public record and our intent is serious,” Crétier said in a statement.
Gardaworld declined to comment.


cityam--2020-12-08--Brexit: Boris Johnson to meet EU chief Ursula von der Leyen in Brussels tomorrow

Boris Johnson will meet with European Commission President Ursula von der Leyen tomorrow night in Brussels for showdown Brexit talks .
The pair will be briefed by their respective chief negotiators tomorrow about the outstanding issues holding up a trade agreement , before trying to hammer out a last minute deal one-on-one .
Read more : Brexit talks to continue today after Boris Johnson and von der Leyen call This evening von der Leyen tweeted : “ I look forward to welcoming UK Prime Minister Boris Johnson tomorrow evening .
“ We will continue our discussion on the Partnership Agreement.
@ @ @ @ @ @ @ the pair will have dinner tomorrow night to “ continue our discussions on the future relationship between the UK and the EU ” .
Talks are in the final stages with time running out for a deal to be struck before the UK leaves the EU ’ s customs union and single market on 31 December .
The three largest issues left in trade talks are future fisheries arrangements , business subsidy regulations as a part of level playing field talks and overall governance of the deal .
Before the Open newsletter : @ @ @ @ @ @ @ podcast and key market data The UK government today confirmed it would be backing down on its Internal Market Bill , which would have breached the Brexit Withdrawal Agreement and broken international law in a no-deal scenario .
Some pundits have predicted this is a sign that a UK-EU trade deal could be reached in the coming days after a week of tension between negotiating teams .
Chief EU negotiator Michel Barnier told MEPs yesterday that Wednesday was the absolute final Brexit deadline and that time was running out to give the European @ @ @ @ @ @ @ deal .
Environment secretary George Eustice told the BBC on Sunday that Wednesday would be a final deadline , but it could be extended if a deal is more or less agreed by this point .
“ Of course if the ambience warms up again and great progress is made and it ’ s just sorting out the detail then you could always find more time , you could always extend [ past Wednesday ] , ” he said .
Barnier and Frost have been wrangling over how much access the EU retains @ @ @ @ @ @ @ next year , with this issue believed to be the largest barrier to a deal .
It has been rumoured the UK only want the EU to keep about 20 per cent of the fish it was allocated pre-Brexit , while the EU wants closer to 80 per cent .

Brexit: Boris Johnson to meet EU chief Ursula von der Leyen in Brussels TODAY
Boris Johnson will meet with European Commission President Ursula von der Leyen this evening in Brussels for showdown Brexit talks.
The pair will be briefed by their respective chief negotiators tonight about the outstanding issues holding up a trade agreement, before trying to hammer out a last minute deal one-on-one.
Last night von der Leyen tweeted: “I look forward to welcoming UK Prime Minister Boris Johnson tomorrow evening.
“We will continue our discussion on the Partnership Agreement.”
The Chief UK negotiator also tweeted that the pair will have dinner tonight to “continue our discussions on the future relationship between the UK and the EU”.
Talks are in the final stages with time running out for a deal to be struck before the UK leaves the EU’s customs union and single market on 31 December.
The three largest issues left in trade talks are future fisheries arrangements, business subsidy regulations as a part of level playing field talks and overall governance of the deal.
Before the Open newsletter: Start your day with the City View podcast and key market data
The UK government today confirmed it would be backing down on its Internal Market Bill, which would have breached the Brexit Withdrawal Agreement and broken international law in a no-deal scenario.
Some pundits have predicted this is a sign that a UK-EU trade deal could be reached in the coming days after a week of tension between negotiating teams.
Chief EU negotiator Michel Barnier told MEPs yesterday that Wednesday was the absolute final Brexit deadline and that time was running out to give the European Parliament a chance to ratify any trade deal.
Environment secretary George Eustice told the BBC on Sunday that Wednesday would be a final deadline, but it could be extended if a deal is more or less agreed by this point.
“Of course if the ambience warms up again and great progress is made and it’s just sorting out the detail then you could always find more time, you could always extend [past Wednesday],” he said.
Barnier and Frost have been wrangling over how much access the EU retains to the UK’s fishing waters next year, with this issue believed to be the largest barrier to a deal.
It has been rumoured the UK only want the EU to keep about 20 per cent of the fish it was allocated pre-Brexit, while the EU wants closer to 80 per cent.


cityam--2020-12-08--Boeing lost 63 more 737 Max orders in November as dire year goes on

Boeing lost 63 orders for the 737 Max last month , even though the plane was finally cleared to fly again by regulators .
In yet another dire month for the US planemaker , orders of all its different models fell by 28 planes in total .
A number of airlines , including Virgin Australia and Air Canada , scrapped or reduced orders for the 737 Max in November .
Virgin reduced a previous order of 48 of the model to 25 of a newer model with more seats , while Air Canada binned an order of 23 planes .
@ @ @ @ @ @ @ s decision last week to buy 75 more of the planes , which will give Boeing hope of an improvement performance in December .
The order was the first new deal done for the model since it was cleared to fly again in November after a 20-month grounding due to two fatal crashes .
Before the Open newsletter : Start your day with the City View podcast and key market data In addition , the manufacturing giant delivered just seven planes last month , just one of which was a commercial jet .
@ @ @ @ @ @ @ single 737 Max or a 787 Dreamliner in the period .
A combination of constrained demand due to the coronavirus pandemic , as well as manufacturing quality problems , continue to hamper the firm .
By contrast , European rival Airbus delivered 64 planes last month , to take its yearly tally to 477 .
Boeing ’ s currently stands at 118 .
Read more : Airbus sells no new planes in November as demand sticks at rock bottom In addition , while the French firm has a pipeline of 297 orders for @ @ @ @ @ @ @ Boeing has 454 fewer orders than it did at the beginning of the year .

Boeing lost 63 more 737 Max orders in November as dire year goes on
Boeing saw another 63 orders of its 737 Max cancelled in November, despite the fact that the plane has been newly re-cleared to fly.
Boeing lost 63 orders for the 737 Max last month, even though the plane was finally cleared to fly again by regulators.
In yet another dire month for the US planemaker, orders of all its different models fell by 28 planes in total.
A number of airlines, including Virgin Australia and Air Canada, scrapped or reduced orders for the 737 Max in November.
Virgin reduced a previous order of 48 of the model to 25 of a newer model with more seats, while Air Canada binned an order of 23 planes.
The figures do not include Ryanair’s decision last week to buy 75 more of the planes, which will give Boeing hope of an improvement performance in December.
The order was the first new deal done for the model since it was cleared to fly again in November after a 20-month grounding due to two fatal crashes.
Before the Open newsletter: Start your day with the City View podcast and key market data
In addition, the manufacturing giant delivered just seven planes last month, just one of which was a commercial jet.
It did not manage to deliver a single 737 Max or a 787 Dreamliner in the period.
A combination of constrained demand due to the coronavirus pandemic, as well as manufacturing quality problems, continue to hamper the firm.
By contrast, European rival Airbus delivered 64 planes last month, to take its yearly tally to 477. Boeing’s currently stands at 118.
In addition, while the French firm has a pipeline of 297 orders for the period from January to November, Boeing has 454 fewer orders than it did at the beginning of the year.


cityam--2020-12-08--10 video games that defined the strange year that was 2020

In a year that blockbuster movies were delayed en masse and people were confined to their homes for months at a time , video games played a more important role than ever in our lives .
Read more : Christmas is cancelled : Five festive traditions scuppered by Covid With the new Xbox Series X and PlayStation 5 finally making an appearance last month , 2020 was also a last hurrah for a generation of consoles , a time when developers had worked out how to squeeze every ounce of power and efficiency from the hardware to create the most @ @ @ @ @ @ @ .
In no particular order , here are the games that brightened our days during endless afternoons of lockdown , and , in some cases , helped push the medium of video games to new artistic heights .
From the vantage point of December , the hysteria that surrounded the Spring release of the Animal Crossing : New Horizons – a game about establishing yourself in a town full of amiable villagers – already seems like a relic of a mysterious bygone era .
Was my Twitter timeline really filled with people negotiating @ @ @ @ @ @ @ Did Elija Wood and Stephen Fry really drop into people ’ s digital villages to cheer them up ?
Was there really a serious debate in ostensibly serious publications over whether the game ’ s cheerful shop manager Tom Nook – a raccoon , for what it ’ s worth – was secretly pushing a neoconservative agenda on the world ’ s children ?
Yes , yes and yes .
What is also strange about Animal Crossing : New Horizon was how quickly it disappeared from our lives , as if we ’ @ @ @ @ @ @ @ addictive brand of monotony .
Perhaps this really is the game that best defines 2020 .
The Last of Us Part 2 Few games have been so hotly anticipated as the follow-up to 2013 ’ s The Last of Us , a slow-burn , cinematic zombie thriller that managed to conjure a near-perfect blend of writing , graphics and gameplay .
Remarkably , few people were disappointed with its sequel , which drove forward the original game ’ s fierce blend of horror and tragedy , taking the story in dark new directions @ @ @ @ @ @ @ able to draw in players who don ’ t usually spend their evenings hunched in front of a PlayStation .
A true video game milestone , this will be held as a high-watermark of the medium for years to come .
It ’ s perhaps appropriate the one of the best games of 2020 was actually released back in the relative health and prosperity of 2018 .
The sleeper hit from Supergiant Games , which emerged from Early Access this year , is a cartoonish roguelike dungeon-crawler set amid the pantheon of Greek @ @ @ @ @ @ @ free yourself from Hades and the overbearing influence of your father , who happens to be the literal ruler of the underworld .
While the gameplay is frenetic and progress system subtly rewarding , it ’ s the writing that makes this one of the most unforgettable gaming experiences of the last few years , drip-feeding more meaningful dialogue than you can eke out during a single play-through , and making you feel like a real part of this fascinating , claustrophobic world .
Although not yet technically released , it would be @ @ @ @ @ @ @ to CD Projekt Red ’ s Cyberpunk 2077 , a game that will finally be in the hands of fans later this week following a string of high-profile delays .
Perhaps the most ambitious open-world game ever created , it sees your character negotiate the future-dystopia of Night City , interacting with its bizarre denizens and forging a narrative of your own making over potentially hundreds of hours .
Whether it can live up to the promise of the developer ’ s last game , The Witcher 3 – considered one of the @ @ @ @ @ @ @ be seen .
Gamers have been clamouring for a follow-up to the seminal Half Life series since it was left on a cliffhanger in 2007 .
What nobody asked for was for that follow-up to be a virtual reality-only adventure using the developer ’ s proprietary hardware Valve VR .
Until it was released , that is , and it was… really good .
Like , genuinely pretty great , not just ‘ decent for a VR game ’ .
While virtual reality remains a nascent medium , Half Life : Alyx is @ @ @ @ @ @ @ and a must-play for anyone who ’ s invested in a headset .
The final release of this fan-made game is one of the more heart-warming stories of 2020 .
A remake of the original 1998 Half Life – sanctioned for commercial release by IP holder Valve – has been in some form of development for 16 years .
Repeatedly dismissed over that time – not unfairly , I must say – as one of those projects destined to fail , developers Crowbar Collective took everyone by surprise in 2019 when they announced @ @ @ @ @ @ @ more surprising is how brilliant it is , a ground-up redesign of the original game that completely overhauls the much-maligned final “ Xen ” levels .
Beyond anything you could reasonably expect of a fan collective , this is an essential title whether you ’ re old enough to have played the original ( guilty ) or a younger player yet to experience one of the most important releases in the medium of video games .
Following the frankly absurd success of Fortnight ( and to an only slightly lesser extent PUBG , @ @ @ @ @ @ @ DNA ) , the online battle royale genre seemed to have been explored in all of its permutations .
We had a “ serious shooter ” version in Apex Legends , a zombie version in Dying Light : Bad Blood , and even a Tetris version in Tetris 99 .
So Fall Guys surprised even its own developers when over the summer it became the title on every Twitch-streamers screen .
The goofy series of It ’ s a Knockout-style minigames saw players take control of glitchy , imprecise avatars and fling them @ @ @ @ @ @ @ that relied as much on luck as skill .
Exactly the kind of mindless fun we all needed this year .
Another game that ’ s actually a throwback to the before-times , Demon ’ s Souls is a remake of From Software ’ s 2009 title , which went on to inspire the world-conquering Dark Souls series .
But there are remakes , and there are remakes from Bluepoint , the developers who rebuilt Shadow of the Colossus in spectacular fashion back in 2018 .
This is another huge win for Bluepoint @ @ @ @ @ @ @ into the laps of modern gamers .
Brutal , inscrutable and so mysterious people still debate its nuances more than a decade after release , this is the title that birthed the “ souls-like ” genre , where players learn through repeated and unforgiving death to foes that at first seem utterly invincible .
This remake brings fresh and startling beauty to the ravaged land of Boletaria , making it the first essential next-gen title .
Confined to our sofas for months on end , we all needed a little escapism this year @ @ @ @ @ @ @ in spades .
Set in ancient Japan , Sucker Punch Productions ’ game provided a vast and beautiful world for you to roam at your leisure , a place filled with potential samurai mischief like hiding in long grass and hacking people to pieces with a sword .
While it pushed few barriers in terms of writing or gameplay , Ghost of Tsushima is beautiful a playground in which to lose yourself , and a source of more screenshots than any game I can remember .
In what was something of a running @ @ @ @ @ @ @ the fifth and final act of Kentucky Route Zero marked the end of a long-running project that dated back to 2013 .
If The Last of Us Part 2 is a smart blockbuster , Kentucky Route Zero is an indie darling , a surreal , elegiac pixel-art exploration of what happens to those left behind in the wake of economic ruin .
Set in a dreamlike version of the US state , in which a whisky conglomerate essentially owns the local workforce , it ’ s a sad , touching and resolutely slow-paced @ @ @ @ @ @ @ video game and art project .
Wonderfully soundtracked by Ben Babbitt , this is one of the most original and innovative games ever made , and one that should have pride of place on your digital shelf .

10 video games that defined the strange year that was 2020
A still from Kentucky Route Zero, one of the games that defined 2020
In a year that blockbuster movies were delayed en masse and people were confined to their homes for months at a time, video games played a more important role than ever in our lives.
With the new Xbox Series X and PlayStation 5 finally making an appearance last month, 2020 was also a last hurrah for a generation of consoles, a time when developers had worked out how to squeeze every ounce of power and efficiency from the hardware to create the most advanced games we have seen to date.
In no particular order, here are the games that brightened our days during endless afternoons of lockdown, and, in some cases, helped push the medium of video games to new artistic heights.
The Last of Us Part 2
Animal Crossing: New Horizons
Kentucky Route Zero
Cyberpunk 2077
Ghost of Tsushima
Fall Guys
Half Life: Alyx
Black Mesa
Demon’s Souls
Hades
Animal Crossing: New Horizons
From the vantage point of December, the hysteria that surrounded the Spring release of the Animal Crossing: New Horizons – a game about establishing yourself in a town full of amiable villagers – already seems like a relic of a mysterious bygone era.
Was my Twitter timeline really filled with people negotiating over the price of virtual turnips? Did Elija Wood and Stephen Fry really drop into people’s digital villages to cheer them up? Was there really a serious debate in ostensibly serious publications over whether the game’s cheerful shop manager Tom Nook – a raccoon, for what it’s worth – was secretly pushing a neoconservative agenda on the world’s children? Yes, yes and yes.
What is also strange about Animal Crossing: New Horizon was how quickly it disappeared from our lives, as if we’d been inoculated against its strange, addictive brand of monotony. Perhaps this really is the game that best defines 2020.
The Last of Us Part 2
Few games have been so hotly anticipated as the follow-up to 2013’s The Last of Us, a slow-burn, cinematic zombie thriller that managed to conjure a near-perfect blend of writing, graphics and gameplay.
Remarkably, few people were disappointed with its sequel, which drove forward the original game’s fierce blend of horror and tragedy, taking the story in dark new directions while keeping the stripped-back gameplay that was able to draw in players who don’t usually spend their evenings hunched in front of a PlayStation. A true video game milestone, this will be held as a high-watermark of the medium for years to come.
Hades
It’s perhaps appropriate the one of the best games of 2020 was actually released back in the relative health and prosperity of 2018. The sleeper hit from Supergiant Games, which emerged from Early Access this year, is a cartoonish roguelike dungeon-crawler set amid the pantheon of Greek gods.
It sees you battle to free yourself from Hades and the overbearing influence of your father, who happens to be the literal ruler of the underworld. While the gameplay is frenetic and progress system subtly rewarding, it’s the writing that makes this one of the most unforgettable gaming experiences of the last few years, drip-feeding more meaningful dialogue than you can eke out during a single play-through, and making you feel like a real part of this fascinating, claustrophobic world.
Cyberpunk 2077
Although not yet technically released, it would be remiss not to give a passing mention to CD Projekt Red’s Cyberpunk 2077, a game that will finally be in the hands of fans later this week following a string of high-profile delays.
Perhaps the most ambitious open-world game ever created, it sees your character negotiate the future-dystopia of Night City, interacting with its bizarre denizens and forging a narrative of your own making over potentially hundreds of hours.
Whether it can live up to the promise of the developer’s last game, The Witcher 3 – considered one of the finest games ever made – remains to be seen.
Half Life: Alyx
Gamers have been clamouring for a follow-up to the seminal Half Life series since it was left on a cliffhanger in 2007. What nobody asked for was for that follow-up to be a virtual reality-only adventure using the developer’s proprietary hardware Valve VR.
Until it was released, that is, and it was… really good. Like, genuinely pretty great, not just ‘decent for a VR game’. While virtual reality remains a nascent medium, Half Life: Alyx is now one of its poster children, and a must-play for anyone who’s invested in a headset.
Black Mesa
The final release of this fan-made game is one of the more heart-warming stories of 2020. A remake of the original 1998 Half Life – sanctioned for commercial release by IP holder Valve – has been in some form of development for 16 years.
Repeatedly dismissed over that time – not unfairly, I must say – as one of those projects destined to fail, developers Crowbar Collective took everyone by surprise in 2019 when they announced a finished product was close. Even more surprising is how brilliant it is, a ground-up redesign of the original game that completely overhauls the much-maligned final “Xen” levels.
Beyond anything you could reasonably expect of a fan collective, this is an essential title whether you’re old enough to have played the original (guilty) or a younger player yet to experience one of the most important releases in the medium of video games.
Fall Guys
Following the frankly absurd success of Fortnight (and to an only slightly lesser extent PUBG, from which it borrows much of its DNA), the online battle royale genre seemed to have been explored in all of its permutations. We had a “serious shooter” version in Apex Legends, a zombie version in Dying Light: Bad Blood, and even a Tetris version in Tetris 99.
So Fall Guys surprised even its own developers when over the summer it became the title on every Twitch-streamers screen. The goofy series of It’s a Knockout-style minigames saw players take control of glitchy, imprecise avatars and fling them around assault courses trying to win tournaments that relied as much on luck as skill. Exactly the kind of mindless fun we all needed this year.
Demon’s Souls
Another game that’s actually a throwback to the before-times, Demon’s Souls is a remake of From Software’s 2009 title, which went on to inspire the world-conquering Dark Souls series.
But there are remakes, and there are remakes from Bluepoint, the developers who rebuilt Shadow of the Colossus in spectacular fashion back in 2018. This is another huge win for Bluepoint, bringing the formerly hard-to-find software crashing into the laps of modern gamers.
Brutal, inscrutable and so mysterious people still debate its nuances more than a decade after release, this is the title that birthed the “souls-like” genre, where players learn through repeated and unforgiving death to foes that at first seem utterly invincible. This remake brings fresh and startling beauty to the ravaged land of Boletaria, making it the first essential next-gen title.
Ghost of Tsushima
Confined to our sofas for months on end, we all needed a little escapism this year, and Ghost of Tsushima has that in spades. Set in ancient Japan, Sucker Punch Productions’ game provided a vast and beautiful world for you to roam at your leisure, a place filled with potential samurai mischief like hiding in long grass and hacking people to pieces with a sword.
While it pushed few barriers in terms of writing or gameplay, Ghost of Tsushima is beautiful a playground in which to lose yourself, and a source of more screenshots than any game I can remember.
Kentucky Route Zero
In what was something of a running theme this year, the release of the fifth and final act of Kentucky Route Zero marked the end of a long-running project that dated back to 2013.
If The Last of Us Part 2 is a smart blockbuster, Kentucky Route Zero is an indie darling, a surreal, elegiac pixel-art exploration of what happens to those left behind in the wake of economic ruin.
Set in a dreamlike version of the US state, in which a whisky conglomerate essentially owns the local workforce, it’s a sad, touching and resolutely slow-paced adventure that tiptoes the line between narrative video game and art project.
Wonderfully soundtracked by Ben Babbitt, this is one of the most original and innovative games ever made, and one that should have pride of place on your digital shelf.


cityam--2020-12-08--Citigroup appoints first female head of Middle East and North Africa operations

Citigroup has appointed Elissar Farah Antonios as the first woman to head the bank ’ s Middle East and North @ @ @ @ @ .
MENA is Citi ’ s fastest growing region in its emerging markets portfolio and @ @ @ @ @ the bank ’ s net income in Europe , the Middle East and Africa .
@ @ @ @ @ Jane Fraser as next chief executive Antonios joined Citigroup in 2005 as head of Citi @ @ @ @ @ Dhabi , and has been working as its head of operations in the United Arab @ @ @ @ @ since 2019 .
In September , Citi consumer bank appointed the first woman to lead @ @ @ @ @ it named Jane Fraser as its next chief executive .
Born and raised in Scotland @ @ @ @ @ at McKinsey before joining Citi as head of client strategy in 2004 .
She was @ @ @ @ @ president in October last year and was chief executive of global consumer banking .

Citigroup appoints first female head of Middle East and North Africa operations
Citigroup has appointed Elissar Farah Antonios as the first woman to head the bank’s Middle East and North Africa (MENA) operations.
MENA is Citi’s fastest growing region in its emerging markets portfolio and contributes 30 per cent of the bank’s net income in Europe, the Middle East and Africa.
Antonios joined Citigroup in 2005 as head of Citi Private Bank Head in Abu Dhabi, and has been working as its head of operations in the United Arab Emirates, Levant and Iraq since 2019.
In September, Citi consumer bank appointed the first woman to lead a Wall Street Bank when it named Jane Fraser as its next chief executive.
Born and raised in Scotland, Fraser began her career at McKinsey before joining Citi as head of client strategy in 2004.
She was promoted to the role of president in October last year and was chief executive of global consumer banking.


cityam--2020-12-08--Honda warns of production delays at Swindon plant due to transport disruption

Japanese car giant Honda has warned that it might have to suspend production at its factory in Swindon due to delays in getting hold of parts as a result of transport disruption .
The automaker operates a “ just in time ” system at the plant , where car parts arrive as and when they are needed .
Read more : Bentley has hired cargo jets to fly car parts to UK to avoid Brexit border logjams This can leave the manufacturer open to delays if supply chains get interrupted .
Honda did not comment as to whether the delays @ @ @ @ @ @ @ the firm said : “ Honda informed its employees today that , due to transport-related delays , potential parts shortages may interrupt production .
“ Whilst a number of measures are being taken to mitigate any disruption , there could be a temporary pause to production to enable any supply issue to be resolved.
” The BBC said that Honda was looking at options including transporting parts by air in order to stave off disruption to production , which could begin imminently .
The firm ’ s Swindon site , where it builds @ @ @ @ @ @ @ close in July next year , a date which is “ set in stone ” .
Before the Open newsletter : Start your day with the City View podcast and key market data Although the carmaker did not specify whether Brexit was the cause of the disruption , many firms have warned that the failure to agree a free trade deal with the EU could lead to massive delays .
As a result , many firms have been trying to build up a stockpile of parts ahead of the end of the transition @ @ @ @ @ @ @ led to congestion at the UK ’ s ports .
Fellow carmaker Bentley , for example , has increased its stock of spare parts to cover 14 days – rather than two days previously .
It has also hired five cargo jets to fly parts to the UK in the event of border logjams in the new year .
Logistics firms are still awaiting the final details of plans for cross-border trade from 1 January , with negotiations still ongoing .
Hauliers are still awaiting clarity in a variety of areas , such @ @ @ @ @ @ @ and cabotage .
Read more : Gove ‘ doesn ’ t know ’ how many customs agents UK has ready for Brexit , says lorry group These issues are dependent on the outcome of negotiations , the Department for Transport said .
There are now just 23 days until the end of the transition period .
The final plans for Operation Brock and Operation Transmission – to limit disruption to customs arrangements in Kent and Portsmouth in the event of a no-deal Brexit – are also yet to be published .

Honda warns of production delays at Swindon plant due to transport disruption
The trillion-yen investment from Honda will fund research and development initiatives, particularly looking at electrification, over the next six years.
Japanese car giant Honda has warned that it might have to suspend production at its factory in Swindon due to delays in getting hold of parts as a result of transport disruption.
The automaker operates a “just in time” system at the plant, where car parts arrive as and when they are needed.
This can leave the manufacturer open to delays if supply chains get interrupted. Honda did not comment as to whether the delays were Brexit-related.
In a statement, the firm said: “Honda informed its employees today that, due to transport-related delays, potential parts shortages may interrupt production.
“Whilst a number of measures are being taken to mitigate any disruption, there could be a temporary pause to production to enable any supply issue to be resolved.”
The BBC said that Honda was looking at options including transporting parts by air in order to stave off disruption to production, which could begin imminently.
The firm’s Swindon site, where it builds the Civic model, is due to close in July next year, a date which is “set in stone”.
Before the Open newsletter: Start your day with the City View podcast and key market data
Although the carmaker did not specify whether Brexit was the cause of the disruption, many firms have warned that the failure to agree a free trade deal with the EU could lead to massive delays.
As a result, many firms have been trying to build up a stockpile of parts ahead of the end of the transition period on 1 January, which has led to congestion at the UK’s ports.
Fellow carmaker Bentley, for example, has increased its stock of spare parts to cover 14 days – rather than two days previously.
It has also hired five cargo jets to fly parts to the UK in the event of border logjams in the new year.
Logistics firms are still awaiting the final details of plans for cross-border trade from 1 January, with negotiations still ongoing.
Hauliers are still awaiting clarity in a variety of areas, such as ECMT permits, community licenses, and cabotage.
These issues are dependent on the outcome of negotiations, the Department for Transport said. There are now just 23 days until the end of the transition period.
The final plans for Operation Brock and Operation Transmission – to limit disruption to customs arrangements in Kent and Portsmouth in the event of a no-deal Brexit – are also yet to be published.


cityam--2020-12-08--London pandemic update: How many Covid-19 infections are there in your local borough?

London recorded 2,203 new coronavirus cases in the past 24 hours , taking the total number of infections since the pandemic began to 181,345 .
Latest data from Public Health England showed that London ’ s infection rate now stands at 169.6 per 100,000 — around 13 per cent higher than the national average .
Read more : London ‘ facing Tier 3 before Christmas ’ as coronavirus cases hike in two-thirds of boroughs A spike in cases in 21 out of 32 London boroughs in the week to 2 December has stoked concerns that London may join regions such @ @ @ @ @ @ @ level of restrictions .
Figures released by Public Health England showed that Redbridge has overtaken Ealing as the worst-affected borough , after recording a further 137 cases in the past 24 hours .
It has now recorded 8,582 confirmed Covid-19 cases since the start of the pandemic .
Read more : Coronavirus cases ‘ levelling off ’ across England ahead of three-tier system Ealing reported 70 new cases in the last 24 hours to climb to 8,548 in total .
Newham trails close behind with 8,282 confirmed cases , after recording a mammoth @ @ @ @ @ @ @ also confirmed a further 89 cases to climb to 7,784 in total .
Several other boroughs in East London to have a high rate of new cases , with Dagenham and Tower Hamlets also reporting spikes in infections .
Read more : Two-thirds of London boroughs launch their own local contact tracing systems It comes as the UK today recorded a further 12,282 coronavirus cases , with the total number of people who have tested positive since the start of the pandemic to over 1.75m .
The official UK death toll officially passed @ @ @ @ @ @ @ further 616 fatalities recorded in the past 24 hours bringing the total number of Covid-related deaths to 62,033 .
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic .
Data sourced from Public Health England , accurate as of 4pm on Tuesday 8 December Before the Open newsletter : Start your day with the City View podcast and key market data

How many Covid-19 infections are there in your London borough?
London has seen a sharp drop in the number of recorded coronavirus cases over the past few days, after figures released on Friday showed the capital currently has the lowest R rate in the country.
A further 629 cases were recorded in the past 24 hours, taking the total number of positive tests in London since the start of the pandemic to 697,278.
It marks a significant drop since a record 19,871 daily cases were recorded on 29 December, as lockdown measures continue to drive down infections.
Several areas in the capital have seen case numbers drop threefold over the past fortnight, which in turn has pushed down the spread of infection.
Most boroughs in the capital now have a seven-day rate below 100 new cases per 100,000, but that figure is below 50 in some areas in central London.
Twenty-nine London borough areas, including the whole of east London which was hardest hit by the second wave, have a seven-day case rate below 100 new confirmed cases per 100,000.
Meanwhile, Southwark, Westminster, Camden, Kensington and Chelsea all recorded seven-day rates below 50. Lewisham saw the lowest case rate in the capital in the week to 24 February, with an average of 43 people infected per 100,000 population.
Meanwhile, Ealing currently has the highest case rate, with 123 cases per 100,000, followed by Hounslow at 115 and Hillingdon on 97.
Health chiefs have said all London boroughs need to get below a case rate of 100 before restrictions can begin to be lifted, starting with the reopening of schools on 8 March.
It comes after figures released last Friday showed London’s R rate remains at a best estimate of 0.6 to 0.8 — the lowest in the country, alongside the east of England and the South West.
The figure means infections may be falling anywhere between five and eight per cent each day.
However, separate figures released last week showed the percentage of people testing positive for coronavirus in London remains the highest of any English region.
Data published by the Office for National Statistics (ONS) showed around 1 in 63 Londoners were infected with the virus last week.
That compares to an estimated 1 in 80 people who contracted the virus in England as a whole in the week to 6 February, according to ONS figures.
Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic.
London coronavirus cases by borough (in alphabetical order)
Data sourced from Public Health England, accurate as of 4pm on Tuesday 2 March
Boroughs Rate of infection per 100,000 people in last 7 days Total confirmed cases since start of pandemic Barking and Dagenham 86 22,925 Barnet 75 29,569 Bexley 58 21,812 Brent 91 27,577 Bromley 48 23,857 Camden 42 13,683 Croydon 73 30,213 Ealing 123 29,807 Enfield 48 29,217 Greenwich 55 21,769 Hackney and City of London 57 21,234 Hammersmith and Fulham 76 12,564 Haringey 58 20,345 Harrow 95 19,917 Havering 65 26,383 Hillingdon 97 25,287 Hounslow 115 23,817 Islington 43 14,574 Kensington and Chelsea 43 8,643 Kingston upon Thames 47 11,764 Lambeth 49 23,625 Lewisham 39 21,226 Merton 79 15,719 Newham 61 34,574 Redbridge 72 31,965 Richmond upon Thames 55 10,430 Southwark 42 21,947 Sutton 80 15,509 Tower Hamlets 53 28,074 Waltham Forest 52 24,325 Wandsworth 63 21,377 Westminster 41 13,577
Before the Open newsletter: Start your day with the City View podcast and key market data


cityam--2020-12-08--Bolt launches fund to help its London drivers transition to electric vehicles

Bolt , London ’ s second biggest taxi service , is launching a Zero Emission Transition fund to move its London-based drivers over to electric vehicles .
The fund will be worth around £250,000 and will come at no extra cost to riders or drivers .
The money will be used to pay for four main things : Installing charging points , developing a tool which calculates the total cost of owning an electric vehicle , removing the need for drivers to pay a deposit when they buy a new electric vehicle and donating to sustainability initiatives across the UK @ @ @ @ @ @ @ sunk in November , but more UK drivers buying electric and hybrid vehicles The upfront cost of purchasing an electric vehicle is often the biggest barrier to stopping drivers switching to an electric vehicle .
” We ’ re confident that the groundwork being laid by our Zero Emission Transition pilot will help identify the mechanics that are most efficient at getting Bolt drivers into electric vehicles , and are excited at the potential benefit this could have for our drivers and the wider city , ” said Sam Raciti , general manager @ @ @ @ @ @ @ s operations in London in-line with is operations in the rest of Europe , where all of its trips are already carbon-neutral .
In order to carry out this transition , Bolt has hired charging solutions firm Ubitricity to increase charging infrastructure in the city for the taxi community .
” For the UK to meet its carbon emission and air quality ambitions , we need a rapid transition to electric vehicles .
When you compare driving patterns , a taxi covers five times more mileage per year than the average car .
@ @ @ @ @ @ @ sooner by solving their charging worries around cost and convenience , delivers a large and quick gain against local authorities ’ climate change and air quality goal , ” said Daniel Bentham , managing director of Ubitricity .
Read more : Volkswagen to invest €73bn in digitalisation and electric cars

Bolt launches fund to help its London drivers transition to electric vehicles
Bolt, London’s second biggest taxi service, is launching a Zero Emission Transition fund to move its London-based drivers over to electric vehicles.
The fund will be worth around £250,000 and will come at no extra cost to riders or drivers.
The money will be used to pay for four main things: Installing charging points, developing a tool which calculates the total cost of owning an electric vehicle, removing the need for drivers to pay a deposit when they buy a new electric vehicle and donating to sustainability initiatives across the UK.
The upfront cost of purchasing an electric vehicle is often the biggest barrier to stopping drivers switching to an electric vehicle.
”We’re confident that the groundwork being laid by our Zero Emission Transition pilot will help identify the mechanics that are most efficient at getting Bolt drivers into electric vehicles, and are excited at the potential benefit this could have for our drivers and the wider city,” said Sam Raciti, general manager.
The move will bring Bolt’s operations in London in-line with is operations in the rest of Europe, where all of its trips are already carbon-neutral.
Ubitricity
In order to carry out this transition, Bolt has hired charging solutions firm Ubitricity to increase charging infrastructure in the city for the taxi community.
”For the UK to meet its carbon emission and air quality ambitions, we need a rapid transition to electric vehicles. When you compare driving patterns, a taxi covers five times more mileage per year than the average car. So helping taxi drivers switch to EVs sooner by solving their charging worries around cost and convenience, delivers a large and quick gain against local authorities’ climate change and air quality goal,” said Daniel Bentham, managing director of Ubitricity.


cityam--2020-12-09--Starmer swerves question of whether Labour will vote for a Brexit trade deal

Sir Keir Starmer has refused to answer whether Labour will vote for a potential post-Brexit trade deal in what is becoming a shadow cabinet row .
Starmer said Labour would vote “ in the national interest ” if Boris Johnson can close a UK-EU trade deal and bring it to parliament before 31 December .
Read more : Brexit : Boris Johnson to meet EU chief Ursula von der Leyen in Brussels TODAY Media reports this week revealed Starmer is leaning toward voting for a Brexit trade deal , but that a number of shadow cabinet members are pushing him @ @ @ @ @ @ @ and her deputy Bridget Phillipson are thought to be against voting for any Brexit trade deal .
The pair were previously supporters of a second Brexit referendum .
Starmer ’ s team is reportedly concerned that voting against a trade deal would play badly in the Northern Brexit-voting seats the party lost in the 2019 election .
The opposition leader is already seen as a stark opponent of Brexit , after pushing Labour to support a second referendum at the last election .
Speaking at Prime Minister ’ s Questions ( PMQs ) @ @ @ @ @ @ @ ] can ’ t even say weather he would support a deal – yes or no .
“ If he can ’ t say whether would vote for our deal , yes or no , then he can not attack the government ’ s policy .
Until he ’ s able to come up with a position of his own , wrap a towel around his head , decide what he actually thinks then I find it hard to take his criticisms very seriously.
” Read more : Brexit : City of London @ @ @ @ @ @ @ UK financial services sector Starmer replied : “ If there is a deal , and I hope there ’ s a deal , then my party will vote in the national interest , not on party political lines as he is doing.
” The Prime Minister is going to Brussels to meet with European Commission President Ursula von der Leyen tonight in an attempt to close a last minute trade deal .

Starmer swerves question of whether Labour will vote for a Brexit trade deal
Sir Keir Starmer has refused to answer whether Labour will vote for a potential post-Brexit trade deal in what is becoming a shadow cabinet row.
Starmer said Labour would vote “in the national interest” if Boris Johnson can close a UK-EU trade deal and bring it to parliament before 31 December.
Media reports this week revealed Starmer is leaning toward voting for a Brexit trade deal, but that a number of shadow cabinet members are pushing him to abstain.
Shadow chancellor Anneliese Dodds and her deputy Bridget Phillipson are thought to be against voting for any Brexit trade deal.
The pair were previously supporters of a second Brexit referendum.
Starmer’s team is reportedly concerned that voting against a trade deal would play badly in the Northern Brexit-voting seats the party lost in the 2019 election.
The opposition leader is already seen as a stark opponent of Brexit, after pushing Labour to support a second referendum at the last election.
Speaking at Prime Minister’s Questions (PMQs), Johnson said: “[Starmer] can’t even say weather he would support a deal – yes or no.
“If he can’t say whether would vote for our deal, yes or no, then he cannot attack the government’s policy. Until he’s able to come up with a position of his own, wrap a towel around his head, decide what he actually thinks then I find it hard to take his criticisms very seriously.”
Starmer replied: “If there is a deal, and I hope there’s a deal, then my party will vote in the national interest, not on party political lines as he is doing.”
The Prime Minister is going to Brussels to meet with European Commission President Ursula von der Leyen tonight in an attempt to close a last minute trade deal.


cityam--2020-12-09--City of London launches gift card to boost spending at Square Mile businesses

A new gift card for the City of London has been launched to make up for lost spending time during the pandemic .
The pre-loaded Mastercards of between £5 and £500 can be spent exclusively at participating businesses within the Square Mile .
More than 40 businesses , including Fortnum & Mason at the Royal Exchange , Suitsupply , the Lamb Tavern and Black Sheep Coffee , have signed up to the scheme which they hope will kick-start sales in the run up to Christmas .
William Russell , Lord Mayor of the City of London , said : “ @ @ @ @ @ @ @ , creative solution to help combat tough trading conditions and it is launching just in time for Christmas.
” Read more : Lockdown batters UK footfall but retailers hope for Christmas boost Spending in the City of London suffered as more commuters and workers worked from home during the two national lockdowns .
The Centre for Economics and Business Research estimated that during the first lockdown £2.3bn of spending had been ‘ lost ’ in central London between March and July .
The gift card was created in collaboration with Aldgate Connect BID @ @ @ @ @ @ @ and the Eastern City Partnership , alongside the City of London Corporation .
The gift card “ demonstrates how organisations can work together to support their local ecosystem in the face of this pandemic ” said Ruth Duston , managing director of Primera consultancy .
Read more : Consumer spending rises ahead of Christmas but retailers still feeling the pinch

City of London launches gift card to boost spending at Square Mile businesses
A new gift card for the City of London has been launched to make up for lost spending time during the pandemic.
The pre-loaded Mastercards of between £5 and £500 can be spent exclusively at participating businesses within the Square Mile.
More than 40 businesses, including Fortnum & Mason at the Royal Exchange, Suitsupply, the Lamb Tavern and Black Sheep Coffee, have signed up to the scheme which they hope will kick-start sales in the run up to Christmas.
William Russell, Lord Mayor of the City of London, said: “The City Gift Card is a fantastic, creative solution to help combat tough trading conditions and it is launching just in time for Christmas.”
Spending in the City of London suffered as more commuters and workers worked from home during the two national lockdowns.
The Centre for Economics and Business Research estimated that during the first lockdown £2.3bn of spending had been ‘lost’ in central London between March and July.
The gift card was created in collaboration with Aldgate Connect BID, Cheapside Alliance, Fleet Street Quarter and the Eastern City Partnership, alongside the City of London Corporation.
The gift card “demonstrates how organisations can work together to support their local ecosystem in the face of this pandemic” said Ruth Duston, managing director of Primera consultancy.


cityam--2020-12-09--Vaccine optimism spurs near-record equity inflows

The long-awaited announcement of effective vaccines saw investors pile back into equity funds last month at a near-record level .
Renewed optimism among investors saw a net £2.3bn added to equity funds , according to fund network Calastone ’ s latest data .
Read more : Active funds pivot to ESG in bid to fight off passive trackers It is the second highest month of inflows on record after April 2020 when investors welcomed coronavirus financial packages with open arms .
Investors have in recent months turned their back on UK equity funds as fears over Brexit returned and the @ @ @ @ @ @ @ felt .
Investors piled £1.4bn into riskier equity funds in the five days after Pfizer ’ s vaccine announcement , compared with outflows of £389m in the preceding five days .
Another £897m flowed in in the five days following Moderna ’ announcement while the Oxford/Astrazeneca news prompted another £429m .
Active equity funds had their best performing month since July 2015 with £1.6bn of new capital .
This helped reverse half of the cumulative outflows since May 2020 , with most going into active global funds , which saw an all-time record @ @ @ @ @ @ @ in impact investing also saw ESG funds continue to break records .
Investors added £820m of new capital in November which exceeded the total inflows during the five years to January 2020 .
Read more : Investors turn their back on UK equity funds due to Brexit jitters Real estate funds have had a dire year as a result of fund suspensions triggered by the pandemic .
They saw outflows of £284m , the fifth worst month on record , but it was considerably lower than the £340m seen in October .
Despite @ @ @ @ @ @ @ Calastone ’ s daily trading data showed that investors became more bullish in the second half of the month as a result of the vaccine news .
“ It ’ s rare that the economic prospects for the year ahead are this cloudy , but a rapid , successful vaccine rollout and a possible Brexit deal could ignite a pretty strong recovery and that will surely benefit the sector enormously as businesses get back on their feet , ” said Edward Glyn , Calastone ’ s head of global markets .

Vaccine optimism spurs near-record equity inflows
(Photo by Hugh Hastings/Getty Images)
The long-awaited announcement of effective vaccines saw investors pile back into equity funds last month at a near-record level.
Renewed optimism among investors saw a net £2.3bn added to equity funds, according to fund network Calastone’s latest data.
It is the second highest month of inflows on record after April 2020 when investors welcomed coronavirus financial packages with open arms.
Investors have in recent months turned their back on UK equity funds as fears over Brexit returned and the economic impact of the pandemic was keenly felt.
Investors piled £1.4bn into riskier equity funds in the five days after Pfizer’s vaccine announcement, compared with outflows of £389m in the preceding five days.
Another £897m flowed in in the five days following Moderna’ announcement while the Oxford/Astrazeneca news prompted another £429m.
Active equity funds had their best performing month since July 2015 with £1.6bn of new capital. This helped reverse half of the cumulative outflows since May 2020, with most going into active global funds, which saw an all-time record £1.5bn of inflows.
The increased interest in impact investing also saw ESG funds continue to break records.
Investors added £820m of new capital in November which exceeded the total inflows during the five years to January 2020.
Investors more bullish on property
Real estate funds have had a dire year as a result of fund suspensions triggered by the pandemic. They saw outflows of £284m, the fifth worst month on record, but it was considerably lower than the £340m seen in October.
Despite the impact of a second lockdown, Calastone’s daily trading data showed that investors became more bullish in the second half of the month as a result of the vaccine news.
“It’s rare that the economic prospects for the year ahead are this cloudy, but a rapid, successful vaccine rollout and a possible Brexit deal could ignite a pretty strong recovery and that will surely benefit the sector enormously as businesses get back on their feet,” said Edward Glyn, Calastone’s head of global markets.


Cryptosplosive demand

Technological and Technical Convergence Technology stands at a major global tipping point .
Numerous industries are converging due to blockchain which serves as the backbone to the whole cryptospace .
At hand is the emergence of convergence in money , gaming , social networks , legal , supply chains , and intellectual property .
Bitcoin is the base layer protocol which is the ultimate foundational store-of-value ( SoV ) .
Ethereum is the world ’ s largest economic sandbox where companies can create DeFi , virtual worlds , games , NFT collectibles , DAOs , and legal .
These two @ @ @ @ @ @ @ the value of the cryptospace whose overall value has been accelerated by COVID , lockdowns , virtualization , and social distancing .
The growth of internet nationalism where countries are trying to block each others ’ services off the internet is worrisome and further spurs this need .
Indeed in time , more and more people will become part of the decentralized , private , secure , uncensorable global ecosystem that becomes Web 3.0 .
Ethereum 2.0 + Web 3.0 Everyone can use the Ethereum infrastructure without having to depend on a centralized @ @ @ @ @ @ @ evolution include the elections and Twitter censorship along with Apple and Google being dragged in front of Congress for abusing data .
Much is ripe for disruption .
Enter decentralized platforms .
When Ethereum was launched , its purpose was to provide a platform for other companies on which to build their blockchain applications .
Ethereum facilitates global , neutral , permissionless protocols via DAOs so we can interact with each other by way of ideas , commerce , sales , and value transfer .
In the diagram , Ethereum is the only @ @ @ @ @ @ @ asset and commodity as it can be consumed or transformed into another asset .
It will also become a store of value as it will become deflationary based on its monetary policy thus retain its purchasing power .
The number of companies that continue to build on ETH give ETH the network effect compared to any other crypto protocol , so its future value should eventually exceed $ 10,000 which would give it a market value of $ 1.1 trillion .
When considering the utility of Ethereum , this valuation marks just the @ @ @ @ @ @ @ match the market value of Apple .
Bitcoin recently hit new highs of $ 19,956 , clearing its prior highs of $ 19,700 but did not trade as of yet above the $ 20,000 psychological barrier .
It is looking inevitably poised to do so given the numerous tailwinds at hand .
Over the long run , my metrics remain strongly bullish due to the acceleration of new users , corporate war chests having bought more than $ 16 billion in bitcoin since August , and institutions such as PayPal onboarding bitcoin .
@ @ @ @ @ @ @ any technology to date .
Over the next several days , however , my metrics are currently a mix of bullish and bearish suggesting more sideways basing for bitcoin with a floor of around $ 18,000 or 16925 where it would close the CME gap .
Odds favor resolution to the upside once the base completes .
This could come as soon as the next 24 hours or take several days , barring of course some strongly negative news such as onerous regulations , exchange failure , or stablecoin KYC policies , among @ @ @ @ @ @ @ , overbought conditions remain .
The Crypto Fear & Greed Index is at 86 as of this writing but overbought can become even more overbought during especially strong bull markets .
Another metric , the SOPR ( spent output profit ratio ) measures the profit made by outgoing investors as they sell their coins .
As prices shoot higher , more investors sell .
A spike in SOPR often occurs near minor or major tops in bitcoin .
That said , notice the first red arrow in the diagram below where bitcoin fell @ @ @ @ @ @ @ , Ethereum and alt coins continued much higher in their own climax tops , peaking several days later .
The next three red arrows show a spiking SOPR but bitcoin only corrected briefly before moving sharply higher .
Trying to time such short , sharp corrections by moving to cash then trying to buy back what one sold could easily leave one in the dust .
So the SOPR orange line does not have to retrace back to 1 .
It is always important to weigh each metric in context with strength of @ @ @ @ @ @ @ market has coincided with the longest and deepest depletion of BTC inventory from spot exchanges in bitcoin ’ s history as shown in the graphic below .
Such action shows many more people are “ hodling ” bitcoin as they move them into cold wallets or online storage away from exchanges .
Similarly the volume of coins scooped off exchanges and into cold storage reflects 19 % of inventory vs 11 % in the prior bull market that ran from Jan-2015 to Dec-2017 .
This suggests the current bull may be equivalent if @ @ @ @ @ @ @ 2017 when bitcoin cleared to new highs .
Barring black swans , expect a record setting 2021 for the crypto markets .
If history is any guide , as bitcoin climbs higher , so will Ethereum , followed by the alt coins .
The best alts will outperform ETH which will outperform BTC .
As a consequence , cryptofunds exposed to the right alt coins have an upside that is orders of magnitude greater than any equity fund .
Nevertheless , many are making predictions that bitcoin may correct 30-40 % as it @ @ @ @ @ @ @ price history whenever it hit new all-time highs after basing for many months or longer .
When it comes to making price predictions , history can work against you as bitcoin has also blown past old highs without such a correction leaving many who sold in the dust .
Many also said bitcoin had to close the CME trading gap in price it made earlier this year because it had always done so on the CME since it started trading in late 2017 .
But I argued that the tailwinds in effect are @ @ @ @ @ @ @ to repeat history ( see my prior reports ) .
Further , the data set is small since bitcoin has only been trading on the CME since late 2017 .
Likewise , bitcoin does not have to correct by at least 30 % once it breaks above $ 20k .
That said , the Livermore rule is hugely in effect since whole numbers often act as a barrier or support .
With round numbers , Jesse Livermore noticed stocks that blow through say $ 100/share on strong volume would often sustain the move @ @ @ @ @ @ @ while stocks that anemically crossed 100 would often get pushed back well below 100 , thus could be shorted .
I will be monitoring price/volume of actual bitcoin in real-time to see how it behaves around 20000 then apprise members of www.selfishinvesting.com accordingly .
Bitcoin could well overshoot to $ 25k or even $ 30k if history is any guide before having one of its typical corrections where it then quickly loses 1/3 off the top from profit taking .
Even so , ETH and alt coins could jackknife higher especially if the @ @ @ @ @ @ @ a period of days , ETH does not always have to continue to fall when bitcoin falls .
Just as with leading stocks , understanding context and the behavior of the leading alts alongside BTC and ETH is key .
Position sizing , curating one ’ s positions , and strategically migrating capital is essential to superior returns .
There has been a material paradigm shift this year with institutions and corporations buying bitcoin .
Since August , more than $ 16 billion in corporate war chest capital has poured into bitcoin .
@ @ @ @ @ @ @ up all the bitcoin as it is created .
This , together with my metrics , suggests the current bull market is more sustainable than the one in 2017 when bitcoin reached old highs of 1163 in Feb-2017 then peaked at 19700 .
Ready to surf the tsunami ?
Dr.Chris Kacher , nuclear physicist PhD turned stock+crypto trading wizard / bestselling author / blockchain fintech specialist / top 40 charted musician .
Co-founder of www.hansedigitalaccess.com and www.selfishinvesting.com .
Dr. Kacher bought his first bitcoin just over $ 10 in January-2013 .
His metrics @ @ @ @ @ @ @ in bitcoin since 2011 .
He was up in 2018 vs the median performing crypto hedge fund at -46 % ( PwC ) and is up high triple digit percentages in 2020 so far with risk spread across more than 30 top performing alt coins .
Crypto AM : Technically Speaking in association with Zumo

Cryptosplosive demand
Technological and Technical Convergence
Technology stands at a major global tipping point. Numerous industries are converging due to blockchain which serves as the backbone to the whole cryptospace. At hand is the emergence of convergence in money, gaming, social networks, legal, supply chains, and intellectual property. Bitcoin is the base layer protocol which is the ultimate foundational store-of-value (SoV). Ethereum is the world’s largest economic sandbox where companies can create DeFi, virtual worlds, games, NFT collectibles, DAOs, and legal.
These two coins make up roughly 75% of the value of the cryptospace whose overall value has been accelerated by COVID, lockdowns, virtualization, and social distancing. The growth of internet nationalism where countries are trying to block each others’ services off the internet is worrisome and further spurs this need. Indeed in time, more and more people will become part of the decentralized, private, secure, uncensorable global ecosystem that becomes Web 3.0.
Ethereum 2.0 + Web 3.0
Everyone can use the Ethereum infrastructure without having to depend on a centralized party. Recent events that spur this evolution include the elections and Twitter censorship along with Apple and Google being dragged in front of Congress for abusing data. Much is ripe for disruption. Enter decentralized platforms.
When Ethereum was launched, its purpose was to provide a platform for other companies on which to build their blockchain applications. Ethereum facilitates global, neutral, permissionless protocols via DAOs so we can interact with each other by way of ideas, commerce, sales, and value transfer.
In the diagram, Ethereum is the only instrument that will become both a capital asset and commodity as it can be consumed or transformed into another asset. It will also become a store of value as it will become deflationary based on its monetary policy thus retain its purchasing power. The number of companies that continue to build on ETH give ETH the network effect compared to any other crypto protocol, so its future value should eventually exceed $10,000 which would give it a market value of $1.1 trillion. When considering the utility of Ethereum, this valuation marks just the beginning as it would not even yet match the market value of Apple.
Bitcoin Fundamentals & Technicals
Bitcoin recently hit new highs of $19,956, clearing its prior highs of $19,700 but did not trade as of yet above the $20,000 psychological barrier. It is looking inevitably poised to do so given the numerous tailwinds at hand. Over the long run, my metrics remain strongly bullish due to the acceleration of new users, corporate war chests having bought more than $16 billion in bitcoin since August, and institutions such as PayPal onboarding bitcoin.
Bitcoin adoption is the most rapid of any technology to date.
Over the next several days, however, my metrics are currently a mix of bullish and bearish suggesting more sideways basing for bitcoin with a floor of around $18,000 or 16925 where it would close the CME gap. Odds favor resolution to the upside once the base completes. This could come as soon as the next 24 hours or take several days, barring of course some strongly negative news such as onerous regulations, exchange failure, or stablecoin KYC policies, among other possibilities.
On the bearish side, overbought conditions remain. The Crypto Fear & Greed Index is at 86 as of this writing but overbought can become even more overbought during especially strong bull markets.
Another metric, the SOPR (spent output profit ratio) measures the profit made by outgoing investors as they sell their coins. As prices shoot higher, more investors sell. A spike in SOPR often occurs near minor or major tops in bitcoin. That said, notice the first red arrow in the diagram below where bitcoin fell. Yet because the market was strong, Ethereum and alt coins continued much higher in their own climax tops, peaking several days later.
The next three red arrows show a spiking SOPR but bitcoin only corrected briefly before moving sharply higher. Trying to time such short, sharp corrections by moving to cash then trying to buy back what one sold could easily leave one in the dust. So the SOPR orange line does not have to retrace back to 1. It is always important to weigh each metric in context with strength of the overall market.
This particular bull market has coincided with the longest and deepest depletion of BTC inventory from spot exchanges in bitcoin’s history as shown in the graphic below. Such action shows many more people are “hodling” bitcoin as they move them into cold wallets or online storage away from exchanges. Similarly the volume of coins scooped off exchanges and into cold storage reflects 19% of inventory vs 11% in the prior bull market that ran from Jan-2015 to Dec-2017. This suggests the current bull may be equivalent if not greater than the bull market of 2017 when bitcoin cleared to new highs. Barring black swans, expect a record setting 2021 for the crypto markets.
Bitcoin, Ethereum, and Alts Correlate
If history is any guide, as bitcoin climbs higher, so will Ethereum, followed by the alt coins. The best alts will outperform ETH which will outperform BTC. As a consequence, cryptofunds exposed to the right alt coins have an upside that is orders of magnitude greater than any equity fund.
Nevertheless, many are making predictions that bitcoin may correct 30-40% as it has a number of times in its price history whenever it hit new all-time highs after basing for many months or longer. When it comes to making price predictions, history can work against you as bitcoin has also blown past old highs without such a correction leaving many who sold in the dust.
Many also said bitcoin had to close the CME trading gap in price it made earlier this year because it had always done so on the CME since it started trading in late 2017. But I argued that the tailwinds in effect are so substantial that bitcoin does not have to repeat history (see my prior reports). Further, the data set is small since bitcoin has only been trading on the CME since late 2017.
Likewise, bitcoin does not have to correct by at least 30% once it breaks above $20k. That said, the Livermore rule is hugely in effect since whole numbers often act as a barrier or support. With round numbers, Jesse Livermore noticed stocks that blow through say $100/share on strong volume would often sustain the move well beyond 100 so could be bought while stocks that anemically crossed 100 would often get pushed back well below 100, thus could be shorted.
I will be monitoring price/volume of actual bitcoin in real-time to see how it behaves around 20000 then apprise members of www.selfishinvesting.com accordingly. Bitcoin could well overshoot to $25k or even $30k if history is any guide before having one of its typical corrections where it then quickly loses 1/3 off the top from profit taking. Even so, ETH and alt coins could jackknife higher especially if the correction in bitcoin is mild. Over a period of days, ETH does not always have to continue to fall when bitcoin falls. Just as with leading stocks, understanding context and the behavior of the leading alts alongside BTC and ETH is key. Position sizing, curating one’s positions, and strategically migrating capital is essential to superior returns.
There has been a material paradigm shift this year with institutions and corporations buying bitcoin. Since August, more than $16 billion in corporate war chest capital has poured into bitcoin. PayPal and Square appear to be buying up all the bitcoin as it is created. This, together with my metrics, suggests the current bull market is more sustainable than the one in 2017 when bitcoin reached old highs of 1163 in Feb-2017 then peaked at 19700. Ready to surf the tsunami?
Dr.Chris Kacher, nuclear physicist PhD turned stock+crypto trading wizard / bestselling author / blockchain fintech specialist / top 40 charted musician. Co-founder of www.hansedigitalaccess.com and www.selfishinvesting.com.
Dr. Kacher bought his first bitcoin just over $10 in January-2013. His metrics have called every major top & bottom in bitcoin since 2011. He was up in 2018 vs the median performing crypto hedge fund at -46% (PwC) and is up high triple digit percentages in 2020 so far with risk spread across more than 30 top performing alt coins.
Crypto AM: Technically Speaking in association with Zumo


cityam--2020-12-09--YFI - Unite and conquer

YFI - Unite and conquer

In computer science , divide and conquer is an algorithm design paradigm based on multi-branched recursion .
A divide-and-conquer algorithm works by recursively breaking down a problem into two or more sub-problems of the same or related type , until these become simple enough to be solved directly .
In DeFi science , the Tony Stark of DeFi , Andre Cronje with Yearn Finance , found a way to reshape this concept in a special way .
The Sweet and Sour Cover up of Akropolis Instead of dividing , YFI is uniting or merging with other protocols .
Just within @ @ @ @ @ @ @ violent tornado , sucked in four DeFi protocols .
Notorious Pickle came first , followed by Cream , Cover , and then Akropolis .
After suffering a $ 19.7 million hack on November 21st , this announcement was a life jacket thrown into the jar to save the Pickle from drowning .
Andre came out on the 24th Nov with a Medium article saying : “ developers have worked out a structure to allow the two projects to work together in symbiosis .
This is done to reduce duplicate work , increase specialization @ @ @ @ @ @ @ .
Like a true lifeguard with humility says , “ we are just doing our job ” .
Cronje cracks open the champagne to celebrate the new era of a YFI expansion campaign .
Just within days of this event , YFI announced merging with Cream Lending Protocol , and gained a positive reaction in the market .
Two days later , the Cover merger took place .
Then an Akropolis merger came two days later .
They became the front-of-house institutional service provider of Vault and Lending protocols , and set to @ @ @ @ @ @ @ clients , with investment strategies tailored specifically for them .
Last but not least , Yearn x SUSHI was announced just a week ago , adding custom AMM ( Automated Market Making ) experiences for their strategies .
YFI ’ s scaling campaign is gaining incredible momentum .
Collaborations and partnerships just might be the next big catalyst for DeFi to evolve and scale .
The Next Runner Up ?
It ’ s not only industry giants who have cracked the code of successful scaling .
Our eyeballs caught a relatively new project @ @ @ @ @ @ @ instead of providing ready to use strategies , CyberFi provides you with the tools to create your own .
An intelligent automation platform for DeFi .
The project went public on November 13th with a self-funded MVP , and within less than one month , has gained significant momentum .
The team has sealed four partnerships with well known names in the industry .
The first was with TrustSwap integration , which wasn ’ t a big surprise since the CEO Jeff Kirdeikis of TrustSwap is on their advisory board .
Next in @ @ @ @ @ @ @ that combines spot trading and money markets with lending and services through smart contracts .
CyberFi will automate the ability for users to automatically lend the tokens they are not using to Unilend pools , and take them back in the same easy automated fashion .
The week after this they teamed up with DEXTools to stream the most accurate , low latency data from Uniswap .
Just this week , CyberFi announced their partnership with Ferrum Network to develop an automated staking platform that is so easy to use , even your @ @ @ @ @ @ @ is one of the fastest growing areas of the DeFi space , and this collaboration will allow us to deliver staking to a mass audience in a user friendly package.
” It is pretty clear that partnerships , integrations , and collaborations will play a huge role in further growth of individual projects , as well as the industry as a whole .
The message is pretty clear : working together we can achieve more for the greater good .
DeFi Dawg ‘ DD ’ – Industry insider who works closely with a @ @ @ @ @ @ @ .
DD is a huge proponent of innovation and works closely with private and public sectors advocating digital asset space .

Partner Ad Feature is produced by an advertiser with the specific intent to promote a product and is not produced by the City A.M. team.
YFI – Unite and conquer
In computer science, divide and conquer is an algorithm design paradigm based on multi-branched recursion. A divide-and-conquer algorithm works by recursively breaking down a problem into two or more sub-problems of the same or related type, until these become simple enough to be solved directly. In DeFi science, the Tony Stark of DeFi, Andre Cronje with Yearn Finance, found a way to reshape this concept in a special way.
The Sweet and Sour Cover up of Akropolis
Instead of dividing, YFI is uniting or merging with other protocols. Just within a week Yearn Finance, like a violent tornado, sucked in four DeFi protocols. Notorious Pickle came first, followed by Cream, Cover, and then Akropolis. After suffering a $19.7 million hack on November 21st, this announcement was a life jacket thrown into the jar to save the Pickle from drowning. Andre came out on the 24th Nov with a Medium article saying: “developers have worked out a structure to allow the two projects to work together in symbiosis. This is done to reduce duplicate work, increase specialization, and to leverage shared expertise”. Like a true lifeguard with humility says, “we are just doing our job”. Cronje cracks open the champagne to celebrate the new era of a YFI expansion campaign.
Just within days of this event, YFI announced merging with Cream Lending Protocol, and gained a positive reaction in the market. Two days later, the Cover merger took place. Then an Akropolis merger came two days later. They became the front-of-house institutional service provider of Vault and Lending protocols, and set to offer bespoke access to their network of clients, with investment strategies tailored specifically for them. Last but not least, Yearn x SUSHI was announced just a week ago, adding custom AMM (Automated Market Making) experiences for their strategies. YFI’s scaling campaign is gaining incredible momentum. Collaborations and partnerships just might be the next big catalyst for DeFi to evolve and scale.
The Next Runner Up?
It’s not only industry giants who have cracked the code of successful scaling. Our eyeballs caught a relatively new project, called CyberFi. Unlike YFI, instead of providing ready to use strategies, CyberFi provides you with the tools to create your own. An intelligent automation platform for DeFi.
The project went public on November 13th with a self-funded MVP, and within less than one month, has gained significant momentum. The team has sealed four partnerships with well known names in the industry. The first was with TrustSwap integration, which wasn’t a big surprise since the CEO Jeff Kirdeikis of TrustSwap is on their advisory board. Next in line was Unilend – a decentralized protocol that combines spot trading and money markets with lending and services through smart contracts. CyberFi will automate the ability for users to automatically lend the tokens they are not using to Unilend pools, and take them back in the same easy automated fashion. The week after this they teamed up with DEXTools to stream the most accurate, low latency data from Uniswap. Just this week, CyberFi announced their partnership with Ferrum Network to develop an automated staking platform that is so easy to use, even your grandma could do it.
“Staking is one of the fastest growing areas of the DeFi space, and this collaboration will allow us to deliver staking to a mass audience in a user friendly package.”
Source: CyberFi Medium
It is pretty clear that partnerships, integrations, and collaborations will play a huge role in further growth of individual projects, as well as the industry as a whole. The message is pretty clear: working together we can achieve more for the greater good.
DeFi Dawg ‘DD’ – Industry insider who works closely with a number of projects in the DeFi space. DD is a huge proponent of innovation and works closely with private and public sectors advocating digital asset space.