#UK Britain just got a new digital bank and it’s raising tens of millions of pounds

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A new British challenger bank set up by a host of financial heavyweights, including the co-founder of Capital One, got its banking licence on Tuesday and is set to launch next year.

Tandem Bank is the second digital-only bank to be licensed by the Bank of England this year after Atom Bank, which became the first mobile-only bank to get a licence from the Bank of England in June.

Both will be regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Tandem’s co-founder Ricky Knox told Business Insider: “We’ve been amazed by the process, we’ve really found them incredibly accommodating. We’ve had a very smooth ride from the beginning.”

Knox has a long history in fintech (financial technology), helping to found international currency businesses SmallWorldFS and Azimo. Tandem will be a so-called neobank — a new, online-only, mobile-focused bank with no branches (although it will have call centres).

There’s a boom in neobanks springing up across Europe, with Atom Bank, Mondo, and Starling in the UK, and Lunar Way in Denmark.

Knox has founded Tandem with Matt Cooper the co-founder of Capital One, the 10th biggest bank in the US. Cooper chairs the company.

Knox says: “We looked around all the sectors that were being disrupted and saw the next frontier being retail banking, the core business. We feel it’s going to be massively disrupted over the next 10 years.”

He adds: “The reason there’s an opportunity for a new digital bank is because there’s a new generation of people growing up who have very different relationships with their institutions. They want mobile banking.

“We think now is the time [to launch a digital challenger bank] and that’s driven by a generational, as well as a behavioural, shift. We’re looking to address the vast majority of the UK working population.”

Ricky Knox Tandem BankAlongside Cooper, Tandem’s management and board features a host of other financial veterans who between them have served at GE Capital, Lloyds, Barclays, Williams & Glyn, and Santander.

“I always try and get the best talent from the industry to come and support me because I think it is absolutely massive,” Knox says. “If you want to really disrupt and really do something new, you have to really understand what came before.”

Knox and Cooper have been working behind the scenes on getting Tandem its banking licence since July last year and Knox says the company has raised a “quite a lot of capital” although wouldn’t say how much.

He did say that the company is currently in the process of raising a big round of funding “similar to Atom’s” — referring to Atom Bank, another pre-launch digital challenger bank that last week raised £45 million from Spanish bank BBVA.

Knox says Tandem differs from Atom in that it is more customer focused, rather than technology focused. He says: “We know their crew [Atom] pretty well. I think the really big difference between us and Atom is I think Atom are very focused on the mobile experience as the driver for everything they do.

“We’re very focused on customer outcomes and getting a much better deal for our customers. We come from different places.”

He adds: “It’s good that we have lots of guys entering the market. If I was a one man band trying to convince the UK to drop their bank, I think that would be a fiasco. Frankly, the more the merrier.”

London-based Tandem will launch to the public in the second half of next year with products including current accounts, credit cards, savings, and loans.

Knox says the plan is to use innovative products to drive customer adoption, saying: “We’re not assuming people are going to walk in and open a current account on day one, we’re assuming we need to build trust with the customer over time and solve pain points over time.”

He gives loans for a housing deposit as an example of the type of “pain point” Tandem will look to solve, saying: “Right now it’s pretty tricky to get a loan for a deposit, in fact banks actively avoid deposit loans.

“We see that as a really interesting pressing need that banks aren’t addressing right now because they say oh that’s not in my risk profile. It’s something we’ll definitely look to address.”

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#UK Appalachia grasps for hope as coal loses its grip

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Superintendent Jackie Ratliff, a coal miner of 25 years, walks towards a pile of coal waiting to be shipped at a processing plant Tuesday, Oct. 6, 2015, in Welch, W.Va. Central Appalachia’s struggle is familiar to many rural regions across the U.S., where middle-class jobs are disappearing or gone and young people have no other choice than to leave to find opportunity. But the problems are amplified in coal country, where these difficult economic and social conditions have gripped the region for decades and where there is hardly any flat land to build anything. (AP Photo/David Goldman)

WELCH, W.Va. (AP) — The seams of coal in some of Eddie Asbury’s mines in McDowell County are so thin workers can barely squeeze down them. They enter on carts nearly flat on their backs, the roof of the mine coursing by just a few inches in front of their faces. They don’t stand up all day.

To keep his business operating with such a paltry amount of coal, Asbury has to do everything himself. He has no use for the shiny, multimillion-dollar mining machines on display this fall at the biannual coal show nearby. His equipment is secondhand stuff that he repairs and refurbishes. The coal he and his workers scrape out of the mountain is washed and prepared for sale in a plant Asbury and a colleague built themselves.

“It’s how we survive,” says Asbury, 66, a miner since 1971.

Even coal is barely surviving in coal country — and coal is about the only thing that Central Appalachia has.

West Virginia is the only state in the country where more than half of adults are not working, according to the Census Bureau. It is tied with Kentucky for the highest percentage of residents collecting disability payments from Social Security, according to the Kaiser Family Foundation. And the death rate among working-age adults is highest in the nation, 55 percent higher the national average, according to the Centers for Disease Control and Prevention.

And now the one main source for decent-paying work, the brutal life of coal, seems to be drying up for good. The thick, easy, cheap coal is gone, global competition is fierce, and clean air and water regulations are increasing costs and cutting into demand.

Central Appalachia’s struggle is familiar to many rural regions across the U.S., where middle-class jobs are disappearing or gone and young people have no other choice than to leave to find opportunity. But the problems are amplified in coal country, where these difficult economic and social conditions have gripped the region for decades and where there is hardly any flat land to build anything.

Every year since 1979, West Virginia has led the country in the percentage of people who are either not working or looking for work. But businesses are reluctant to come set up shop in Central Appalachia and take advantage of the available labor in part because education levels are so low. Forty-two percent of prime-age West Virginians have no more than a high-school degree, nearly double the national average.

“We have a mismatch between the job skills that employers want and the job skills West Virginians have,” says John Deskins, director of the Bureau for Business and Economic Research at West Virginia University. “It’s a little bit grim. You can cut the data in multiple ways, and West Virginia still lags the nation.”

But this crisis — and the realization that there won’t be another coal boom in these parts — is leading to a growing understanding that new approaches are needed to help Central Appalachia emerge from decades of deep poverty, under-education and poor health.

Big federal and state programs and initiatives, some dating from the Lyndon Johnson administration, have failed to help the region diversify its economy much beyond digging or blasting coal out of mountains. If anything is going to help the people of Appalachia, poverty experts and residents of West Virginia now say, it’s themselves: local entrepreneurs who know their communities and customers well, and are committed to them.

“We need to have some urgency and look at other possibilities because coal may not be here,” says Dr. Donovan “Dino” Beckett, CEO of the Williamson Health and Wellness Center, who also is supporting a range of programs to help boost health and entrepreneurship. “But that’s a controversial subject here because coal is a way of life.”

Success, if it can come to coal country, will be the result of thousands of big risks taken by small-scale business people. It will be halting and arduous and it will come with failure. Many will have no choice but to leave, as tens of thousands already have in recent decades. And West Virginia may continue to lag the nation in social and economic demographics in the years to come.

Central Appalachia is not out of ideas, though, and it has not given up. Grass-roots approaches like Dino Beckett’s programs to improve health in Mingo County, an apprentice program in Wayne County designed to give high school kids a better chance at a good job, and even Eddie Asbury’s small-but-determined coal operation in McDowell County show how Central Appalachia may slowly begin to remake itself.

DARK TIMES FOR COAL

For more than a century, the coal seams that run through Appalachia have made the steel used to build U.S. cities and the electric power to light them. As technology has improved, though, it has taken fewer and fewer workers to mine that coal.

Coal employment and population in Appalachia were at their highest in the middle of the last century. West Virginia coal employment peaked at 130,000 miners in 1940 and is now under 20,000.

The same trend played across the nation. There are fewer than 80,000 coal miners in the U.S. — less than half the number of new jobs the U.S. economy adds every month. That’s one-tenth the number of coal workers in the 1920s, and those fewer workers now produce nearly twice as much coal.

Most of those job losses happened long before coal’s latest downturn. Mechanization began slashing the number of workers needed to mine coal in the 1960s, and then a collapse in the U.S. steel industry in 1980s further decimated miners’ ranks.

Now employment is falling further because the world is trying to turn away from coal in hopes of protecting the environment and human health. Coal is by far the biggest source of carbon dioxide and airborne pollutants among fuels used to make electricity.

Coal will not go completely away anytime soon — it’s the cheapest way to bring electricity to the 1.3 billion people who lack access to it, and even developed nations will still need to burn it as they transition to cleaner fuels. The carbon in coal will still be needed to mix with iron to make steel. But there is so much more coal than the world needs that only the cheapest global producers will survive.

In the U.S., where natural gas has become a cheaper alternative to coal to generate electricity, miners are facing an especially difficult market: Four major U.S. coal companies have filed for bankruptcy protection in the last 18 months.

Mining a thin seam of coal takes nearly as much labor, time and cost as mining a thick seam, but it yields a lot less coal. That makes the thin seams left in Central Appalachia too expensive to compete with cheaper coal being mined in places like Illinois, Wyoming, Australia and Indonesia. The industry will persist here, driven by small, determined operators like Asbury, but as a niche no longer able to support a region’s economy.

“There’s a reluctant realization that this is different,” says Keith Burdette, West Virginia’s commerce secretary and head of the state’s economic development office, of the latest coal bust.

COAL COUNTRY

About the only flat land to build anything among the jumble of mountains in Southern West Virginia is in the hollows traced by small rivers, and that land sits in dangerous flood plains.

This unavoidable geography has hampered efforts to diversify the economy, despite decades of effort. There’s one stoplight in all of McDowell County, and there isn’t a four-lane highway to be found.

John F. Kennedy stopped in Welch, McDowell’s county seat, as a presidential candidate in May 1960 and railed against the “poverty and hunger, the destroyed health” of children there. The first food stamps were given out in McDowell County, and Congress launched the Appalachian Regional Commission in 1965 to help increase job opportunities and make the region economically competitive.

Poverty experts say these efforts helped relieve the most acute conditions, but did little else. As coal employment declined, people fled because there was little else for them to do. McDowell County had a population of just under 100,000 in 1950. Since then, the county’s population has fallen by four-fifths, to around 20,000.

“All we’ve got is coal,” says Randy Campbell, one of Asbury’s mine superintendents.

Even when land is found and developed, it can be hard to attract businesses. Tazewell County, across the border from McDowell in Virginia’s coal country, built a 680-acre business and technology park and dangled incentives to try to entice companies to move in. It sits empty, five years after the county started marketing it.

To many, it is a massive failure of government at federal and local levels that a trend of declining employment, under-education and poor health has been allowed to continue for half a century without a comprehensive overhaul of development policy. For example, many states that rely on natural resource production have permanent funds created with taxes or royalties from resource production that can be tapped during downturns. West Virginia set one up only last year, and because of restrictions on when and how it can be funded, it is empty.

“Our policy makers haven’t grappled with the realities, and it’s to the detriment of coal communities,” says Ted Boettner, executive director of the West Virginia Center on Budget and Policy. “When the new economy started taking off, it left West Virginia behind.”

That may be starting to change. Burdette, the state’s commerce secretary, says the state is considering approaches as radical as starting a homesteading program to attract people to the enormous number of abandoned buildings and empty lots.

“This is going to force us to do some things that maybe we wouldn’t do otherwise but we probably should,” he says. “It’s going to take some real creative thinking.”

JOBS AND LIFE SKILLS IN THE COALFIELDS

After Josh Napier graduated from high school in Wayne County, West Virginia, in 2011 with a major in building construction, all he could find were jobs at fast food restaurants. After stints at Taco Bell and Long John Silver’s, he was working at Wendy’s in the spring of 2012, his first child on the way, when he heard about Brandon Dennison.

“Every construction job I applied for required two years of experience,” Napier says. “Brandon was the first person to give me the chance to actually work on a job.”

Dennison wants to reduce poverty in his home state, so he devised a business plan in graduate school that uses some of the state’s disadvantages, like its abandoned buildings, to create jobs.

His creation, Coalfield Development Corp., hires graduates of high school vocational programs to restore, repurpose or tear down old buildings, use old building materials to make furniture, or build new homes on reclaimed coalfield land.

Employees also are also required to take six hours of community college courses a week and three hours of life skills classes that help them with things like money management and healthy eating.

“If you don’t have a job lined up, that 18-to-19 age becomes a cliff, and we see a lot of bad decisions,” Dennison says.

Napier got hands-on construction experience working on several types of projects, including installation of solar panels, a skill he’d like to pursue in the future. He also took classes in parenting and anger management that he says have made him a better father.

The program is getting such a good response that Dennison plans to expand early next year to start similar businesses focused on agriculture, tourism and retail.

“We’re trying to change mindsets in coal country, from ‘the world is out to get me’ to ‘the world is full of opportunity,'” he says. “A huge focus of the training we do is around entrepreneurship and how to start a business.”

Ron Haskins, a former White House and congressional adviser on welfare and poverty now at the Brookings Institution, says apprenticeship programs — especially ones that help workers pursue a degree — are desperately needed in rural regions nationwide.

They are among the best ways to foster an economy, based on businesses created by local residents who know the area and are committed to stay.

HEALTH, WELLNESS AND NEW BUSINESS

A sign entering Williamson, West Virginia reads “Heart of the Billion Dollar Coal Field,” but the state of the sign is evidence that the billions have long left Mingo County. It’s faded, and the “Welcome to Williamson” part of the sign is broken.

Residents still talk about how popular performers came through town in the 1920s and luxuries found only in a few places in the U.S. were sold in downtown shops.

Dino Beckett’s parents told him those stories, and he’s determined to get some of that vibrancy back.

It starts with improving the health of the residents. Fourteen percent of West Virginians in their prime working years have a disability that keeps them from working or limits what they can do, double the U.S. rate of 7 percent. And the state has by far the highest rate of death from drug overdoses in the nation, two and a half times the national rate, according to the CDC.

Beckett, 46, runs the Williamson Health and Wellness Center, which is working to address many of these issues. But the center also functions as a downtown engine of hope for the county.

“We wanted to start a clinic, but we wanted to be an economic driver for the area, too,” he says.

He started a free clinic under a federal program to encourage treatment of underserved populations to go along with his more traditional doctor’s office, and a Diabetes Coalition to address the extremely high rates of diabetes patients in the county.

Beckett also created a project called Sustainable Williamson that helped set up a farmer’s market to provide access to healthier food and also runs programs to foster and support entrepreneurship.

This summer, Sustainable Williamson opened a space for budding entrepreneurs in a converted old furniture store called The Hub, where people with ideas for businesses can get support and advice. They sponsor training sessions and contests that help people refine their business pitches and compete for start-up money.

His groups try to get people to be more active by promoting and sponsoring daily lunchtime walks and monthly 5K runs.

Among the most popular is the Coal Dust 5K, which took place for the third time in September. By the end of the race, it looks a little like Williamson is teeming with miners again because the runners are doused with “coal dust” along the route. Of course, the “coal dust,” like a Williamson full of miners, isn’t real.

TRYING ANYTHING TO STAY HOME

After years working as a contractor and temporary worker in the coal industry, Mark Muncy finally landed a permanent job, with benefits, working for a mine owned by Alpha Natural Resources in the fall of 2013 near his home in Welch.

A year later, Alpha closed the mine and Muncy was out of work. Alpha, one of the country’s biggest coal companies, is now in bankruptcy.

Muncy didn’t want to go back to working a long-haul truck driver, as he had done years before, because it kept him away from his family too much.

His daughter Ashleigh loved to bake so he raised some money from a local acquaintance, got a government-backed economic development loan and opened the Riverside Cafe and Bakery in June.

“I didn’t know what else to do,” he says.

The plan was to run it with just his wife and four children. But the only salad bar in town proved too popular, and customers fell in love with Ashleigh’s pizza rolls. By customer request, Muncy agreed to extend the restaurant’s hours and stay open until midnight on nights when there’s a local football game with hungry fans.

The restaurant is bringing in three times what Muncy’s loan officer predicted it would — and he’s had to hire three people.

Ashleigh’s original plan was to keep her job at the local supermarket and bake on the side, but her baking just got too popular. Some of Ashleigh’s biggest fans: the region’s remaining miners, like those who work for Asbury, who come early in the morning and ask her to wrap the pizza rolls individually so they can eat them for lunch down in the mine.

Miners like Asbury and his workers won’t disappear completely from the Riverside Cafe or from coal country, despite the region’s dark future. The coal they mine is high-quality stuff, used for making steel, not electricity. It may even be used to build the frames for solar panels that Napier has learned to install, and that could further reduce demand for coal used for electricity.

Asbury is negotiating a lease for a new mine even now, in the depths of a bust.

He also is trying to work with the state on a plan to build a surface mine that would flatten a stretch of mountains but also create enough space for a highway to connect McDowell County with the two interstates that meet in Beckley — and perhaps spur some economic development unrelated to coal, finally, in Central Appalachia.

________

AP Economics Writer Paul Wiseman contributed to this story from Washington.

Jonathan Fahey can be reached at http://twitter.com/JonathanFahey. His work can be found at http://ift.tt/1IyVpZL.

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#UK Britain’s major banks pass stress tests

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LONDON (AP) — The Bank of England says the country’s seven biggest lenders have passed stress tests designed to see if they withstand deterioration in global economic conditions.

The annual check of the health of the financial institutions found that five the seven participating institutions, Barclays, HSBC, Lloyds Banking Group, Santander UK, and the largest building society, Nationwide, showed no capital inadequacies.

The Royal Bank of Scotland Group did not meet its individual capital guidance after management actions and Standard Chartered did not meet one of its capital requirements. But the Prudential Regulatory Authority did not ask either to submit a new plan, as both institutions were already taking steps to strengthen their capital position.

The Bank of England modeled how banks would react to a sharp drop in Chinese economic growth.

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#Asia Meet Hong Kong-based EventXtra, the startup out to rival EventBrite

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The Cyberport alumnus partners up with Web Summit to manage events 

eventxtra2

Registration platform EventXtra helps event organisers with guest check-ins and walk-in on-site registration.

Signups are created online, where participants can RSVP. Guests are registered by scanning a QR code and badges can also be printed (an option if the client rents the badge printing service).  Post-event, a breakdown and analysis of the attendees is provided.

Part of the Hong Kong government-backed Cyberport’s Incubation Programme, EventXtra partnered with Web Summit in Dublin in November to track and register 42,000 attendees.

Also Read: An Asian startup’s reaction to the Web Summit controversy

Hong Kong native Sum Wong co-founded EventXtra in 2013 alongside Angus Luk, who he met in secondary school.

“We started before Cocoon [a co-working space in Hong Kong] existed. You can feel the difference from then to now, in Hong Kong’s startup scene. There was no one talking about startups in 2012. In 2013, we got Cyberport, and it grew from there,” says Wong.

At the moment, the team has grown to 25. “It’s a pretty flat company. Everyone at this stage is a shareholder,” says the 27-year old Founder.

Wong chatted with e27 about thoughts and future plans after securing Web Summit, the company’s biggest client thus far.

Here are edited excerpts of the interview:

eventxtra

L to R: Sum Wong, Angus Luk, Co-Founders of EventXtra

How does EventXtra differentiate itself from similar platforms like Eventbrite and Eventbee? 

We focus on data. We streamline the process so you can manage it easily from the second people check in. You can also create sub-events.

We track each individual attendee. You can track how many CEOs, CFOs come, adding a lot of side information. It’s using data to save money. Understanding the attendee is a way to measure metrics. If some CEOs aren’t attending a lot of events, you can adjust [accordingly].

In the past, Web Summit did not have comprehensive data, you needed to input the data.

For schools and non-profits, we also do sponsorships and provide free usage for small-scale events.

Where did you get the idea to build an events management platform?   

I went to a lot of events in Hong Kong. At each event, I saw people doing things manually, like checking names off and checking for attendees. Because [my Co-Founder] and I studied computer science, we thought, why not create a system to do it? So we built something with an intern, the beginning of EventXtra.

Initially, we got our customers through word of mouth. Our first client tested it out at an event, which is how we got our second client. About 90 per cent of our clients are from Hong Kong.

Did you raise funding for EventXtra?

I went to the US and I saw how they did fundraising. They would raise first through friends and family. I did that when I came back to Hong Kong. At the very beginning, we invested our own money.

We then did an angel round and raised about US$550,000 in total.

Some investors include my mentor at HKUST [Hong Kong University of Science and Technology]. I shared what I was doing, and she said she was interested in investing, it was blind trust!  Other investors are Gigamon, a hardware company and Hong Kong-based Click Ventures.

Who are your main competitors? 

Honestly, our main competitor is people who still use the manual method. About 75 per cent of events in Hong Kong are still done through old software programs or even by hand [pencil and paper]. In the beginning, people might not know the difference using event management tools can bring. But there’s much more comprehensive data.

How much does the service cost? 

The client pays a flat fee of US$2 per attendee. There’s also an annual subscription option. If you have 50 events in one year, you can see all the patterns and data. Potential clients and vendors come and understand the client much more. Corporates can get information from data.

What are your advantages as a local player in Hong Kong’s startup scene? 

There’s an advantage if you speak Cantonese. Clients in Hong Kong speak Cantonese. If you speak English, Cantonese and Mandarin you can reach out to people you want in China or the US. That’s the advantage of Hong Kong.

I did my exchange in university in Beijing at Tsinghua University and also Washington D.C. I saw a lot of what was happening in the startup scene there, which was [interesting] to bring back.

Are there other local startups that you’re excited about from Hong Kong? 

9gag: They work hard to focus on the product. 9gag uses the Western way to run and manage a company in Hong Kong and reach out and grab talents from China and Hong Kong. That’s the advantage. They have overall a good product, extraordinary talent.

Enterploid / Divide: They’re quiet but from Hong Kong. They were acquired by Google in 2014 for US$120 million. They also focus on building a great product. It has a great company culture.

What’s in store next for EventXtra?

Our plan is to fundraise more, and, in the future, think about partnerships or acquisition. We don’t want to just stay in Hong Kong. You can start here, but we want to also focus beyond Hong Kong and on the APAC region — Hong Kong is a small market.

Also Read: Hong Kong’s new Innovation and Technology Bureau leaves some wanting more

Image Credit:Kenneth Law of EventXtra  

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#UK These hybrid animals will be created because of climate change

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Polar Bear and Grizzly Hybrid Baby

In 2006, a white bear with brown splotches, believed to be a hybrid of a polar bear and a grizzly, was shot by Arctic hunters. Then in 2009, a possible hybrid of a right whale and a bowhead was photographed in the Bering Sea.

The increased hybridization of animals is a strong indication that our climate is changing.

As Arctic sea ice continues to melt at drastic rates, different species of seals, whales, and bears previously blocked by huge slabs of ice will begin mingling in the same regions and possibly mating.

Hybrid animals are generally infertile. But the trend is worrisome because it could drive certain species to extinction since those animals are no longer mating with their own kind.

A study published in the journal Nature in 2010 listed 34 species that are at risk of cross-breeding because of a warming climate.

We asked artist Nickolay Lamm to help us imagine what some of those hybrid animals would like if they came to life. 

Elin Pierce, a writer and editor with a Ph.D. in biology, helped to hypothesize what features the hybrid animals would have, based on dominant features of the original two species, and any descriptions or photos of those hybrids that already exist in the wild.

A beluga whale is on the left and narwhal is on the right.

This is a beluga-narwhal hybrid. In this artist’s interpretation, the hybrid has some narwhal coloring and the forehead has less of a bump. In the late 1980s, a whale skull thought to be that of a beluga-narwhal mix was found in west Greenland. Local hunters say they have also spotted the hybrid.

A polar bear is on the left and a grizzly bear is on the right.

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#UK Britain will decide whether or not to bomb Syria tomorrow

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corbyn cameron blair major

Britain is about to come to a monumental decision — it will decide tomorrow whether it will bomb ISIS (also known as Islamic State) in Syria.

Britain’s Prime Minister David Cameron is pushing for politicians to debate and then vote over whether the UK should join the air strikes on Wednesday.

There will be no Prime Minister’s Questions tomorrow in the House of Commons. This is because Cameron wanted to make sure there is time for a full day’s debate on the potential military action on Syria.

The debate is tipped to begin at 11.30 a.m. and continue until 10 p.m. tomorrow.

“We will take the action necessary to make sure we have, in many ways, the equivalent number of questions we would often have across a two-day debate in one day,” said Cameron in a speech outside Downing Street. “I want MPs to be able to have full consideration, to make speeches, to make points, to ask me questions, to examine the government’s case.”

He added that there was “growing” parliamentary support for bombing Syria and that it is “the right thing to do.”

Cameron’s push for a confirmed date and time for a vote could signal that it’s almost certain that air strikes in Syria are going to happen. This is because Cameron said he will only hold a vote but only if he has obvious and clear support from the House of Commons. He said that if the vote failed, it would give ISIS a propaganda victory.

According to the BBC’s political editor Laura Kuenssberg, “informed guesses in Westminster suggest around 380 MPs might be ready to vote for action, with only around 260 or so opposing – a comfortable majority by any stretch.”

Meanwhile, the leader of the Labour party Jeremy Corbyn only just confirmed that he will give his party’s politicians a free vote over whether they are for or against the bombing. This is significant as usually a leader of a political party will whip round and try and get all MPs on the same page.

Prior to Cameron’s pledge to get a one day debate and vote underway as soon as possible, Corbyn criticised the Prime Minister for not holding a two day debate and that he should “stop the rush to war.”

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#UK Japan probes mystery boats carrying dead bodies off coast

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TOKYO (AP) — Japanese authorities are investigating nearly a dozen wooden boats carrying decomposing bodies found drifting off the northwestern coast over the past month.

Coast Guard officials said Tuesday they have found at least 11 shoddy boats carrying the bodies of unknown nationality since late October. They have also found fishing equipment and nets on board and signs written in Korean, suggesting they came from North Korea.

Officials say dozens of wrecked boats drift toward Japan’s northwestern coasts facing the Sea of Japan every year.

This year, officials have found 34 mystery boats so far, including the 11 found between late October and November. Last year, Japan found 65 of them, and 80 more in 2013, according to the Coast Guard.

Coast Guard spokesman Yoshiaki Hiroto said the boats are apparently from the Korean Peninsula, though he declined to identify the country. He said the number of drifting mystery boats tends to rise during the fall and winter season because of the wind from the northwest. Simple wooden boats like those are not used in Japan, he added.

On Nov. 20, officials found four bodies in two capsized boats off the coast of Ishikawa prefecture. Two days later, seven bodies were found inside another wooden boat off nearby Fukui prefecture.

Coast Guard said officials autopsied some of them but could not determine their nationality or cause of death.

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#UK The 10 things in advertising you need to know today (YHOO, VZN, TGT)

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marissa mayer

Good morning. Here’s everything you need to know in the world of advertising today.

1. These are the 10 candidates most likely to replace Marissa Mayer if she leaves Yahoo. Analysts at SunTrust have drawn up a shortlist that includes former Yahoo interim CEO Ross Levinsohn and CBS Interactive CEO Jim Lanzone.

2. Here’s what the logos for Amazon, Levi’s, HBO Go, and more would say if they were being honest. Graphic designer Clif Dickens re-imagines logos on his Honest Slogans blog.

3. People’s racist Facebook comments are ending up on billboards near their homes. A new campaign in Brazil called “Virtual racism, real consequences” is using the location tag from Facebook posts to find out where teh offenders live — although the posters blur out their names and photos.

4. The former CEO of Vodafone Europe told us why he’s joining the board of an ad blocker. He also told us he believes mobile carriers should only make ad blocking an opt-in service for customers.

5. Activists vandalized 600 billboards in Paris to criticize sponsors of the UN summit on climate change taking place there. The “Brandalism” campaign says it is behind the billboards, adding that the aim was to “highlight the links between advertising, consumerism, fossil fuel dependency, and climate change.” 

6. Snapchat is now enabling publishers to “deep link” their Discover content, Digiday reports. It means publishers can share links on other social media, such as Twitter and Facebook, which will link directly to their Snapchat content.

7. AOL president Bob Lord is leaving the company, The Wall Street Journal reports. Lord told the WSJ that he plans to run a public company or a company heading towards an IPO.

8. Target said its Cyber Monday web traffic was “twice as high” as its busiest day ever. Adweek reports that Target deliberately outed its website, placing visitors in a queue, to ensure its systems didn’t crash.

9. Amy Schumer posed naked for the new Pirelli calendar, which celebrates “distinguished women.” The tire company’s calendar usually features scantily-clad models, but this year it chose to honor women “of outstanding professional, social, cultural, sporting, and artistic accomplishment.”

10. The Daily Express owner Richard Desmond reveals he made an attempt to buy Daily Mirror publisher Trinity Mirror. He told The Guardian that Trinity Mirror chief executive Simon Fox blocked the meeting.

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#UK A major South African bank has been fined £22 million in a bribery scandal

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A former unit of Standard Bank, one of South Africa’s biggest lenders, has agreed to pay almost $33 million (£22 million) in fines and compensation for failing to prevent a bribery scandal in Tanzania.

The case is the first deferred prosecution agreement in the UK. It’s a procedure borrowed from the US that allows prosecutors to suspend a prosecution if the company pays a fine and helps the investigators pursue the individuals responsible. 

David Green, director of the Serious Fraud Office, said: “This landmark DPA will serve as a template for future agreements. The judgment from Lord Justice Leveson provides very helpful guidance to those advising corporates. It also endorses the SFO’s contention that the DPA in this case was in the interests of justice and its terms fair, reasonable and proportionate. I applaud Standard Bank for their frankness with the SFO and their prompt and early engagement with us.”

The case involves the bank’s work in 2011 and 2012 on the Tanzanian government’s $600 million sovereign debt placing to fund investments in the country’s infrastructure.

The Standard Bank unit paid $6 million to a company run by Tanzania’s head of tax collection after it won a role to work on the debt placing, and was accused of failing to prevent bribery under the Bribery Act 2010.

Satindar Dogra, a dispute resolution partner at Linklaters said: “This case illustrates that for a company seeking a DPA the bar is likely to be set very high in terms of cooperation.”

“The judge was plainly impressed that the bank had filed its self-report to the authorities before its internal investigation had even started, and that the events in question might otherwise have remained unknown to the SFO,” Dogra said.

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#Africa Tritech Media invests in SA gaming agency GameZBoost

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South African digital media firm Tritech Media, which is controlled by the Kirsh family, has announced the acquisition of a 45 per cent interest in Johannesburg-based gaming agency GameZBoost, with the option to increase its interest to 50.1 per cent.

Tritech Media said GameZBoost, which is launched in January 2013 and has its offices in Centurion, was the only agency of its kind in South Africa, providing customised and scalable gaming platforms that are fully responsive, adaptive and accessible from a multitude of devices.

The startup offers full featured and highly customisable white label gaming platforms, including online desktop solutions, fully responsive mobile and social platforms. These include game integration solutions, which it offers to publishers across the globe.

GameZBoost’s platforms are already running gaming sites for publishers – including NBCUniversal, Burger King and Sony Pictures Entertainment – in 16 countries, and have been translated into 12 languages. The amount invested by Tritech Media is undisclosed, but the firm has the option to take a majority stake in the startup.

“We’re delighted to welcome GameZBoost to the Tritech Media group of companies. Their global market leading gaming solutions fits well with our strategic focus on cutting edge, unique corporate loyalty solutions,” said William Kirsh, founder and chief executive officer (CEO) of Tritech Media.

“It is a well-known fact locally and internationally that engagement levels in loyalty programmes are low, and that gaming is increasingly becoming a valuable tool to enhance customer engagement in loyalty programmes”.

This strategy is similar to the one that persuaded the company to acquire 25 per cent of mobile rewards startup platform TuYu – a mobile rewards and incentives platform that allows companies to reward their staff or consumers at the click of a button – in August.

Tritech’s investment will also have been informed by Newzoo research that predicts the global gaming market will increase annual revenue to over US$113 billion by 2018, with the mobile games sector contributing around 39 per cent of this.

GameZBoost has more than 700 games in its catalogue, which can be deployed and configured to target desktop and mobile users, or users from both platforms through a single deployment.

“We’re excited about the interest the Tritech Media group brings to our business and the synergies we can leverage both ways as we expand our product offering and grow our customer value-add,” said  Mark van Diggelen, CEO of GameZBoost.

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