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Government to push pensions sector towards green technology investment

Guy Opperman is Minister for Pensions and Financial Inclusion

Guy Opperman is Minister for Pensions and Financial Inclusion

Department for Work and Pensions consults on plans to drive long-term pensions sector investment into ‘important sectors of the economy’ such as green technology

The Department for Work and Pensions (DWP) has launched a consultation to improve saver outcomes and promote investment in green technology and infrastructure in the UK pensions industry.

The consultation, published today, puts forward measures to encourage pension schemes to invest in a more diverse range of long-term assets – including illiquid products such as venture capital and green infrastructure. Views are also being sought on additional steps to encourage the consolidation of smaller pension schemes into larger schemes.

The DWP said the proposals would require trustees of smaller schemes to assess key elements of the value achieved by their scheme and to report on the outcome of that assessment. Where this assessment shows that

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Technology
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Fintech Pledge launched to strengthen UK’s financial technology sector

Entrepreneurial network Tech Nation has launched its Fintech Pledge to accelerate the growth of the UK’s financial technology (fintech) sector through establishing standards for “efficient and transparent commercial partnerships” between traditional banks and fintech firms.

Supported by HM Treasury and the Tech Nation-run Fintech Delivery Panel, the pledge consists of five principles aimed at improving the traditional banking sector’s engagement and collaboration with fintechs.

These are to provide clear guidance to technology firms on how the onboarding process works through a dedicated online landing page; provide clarity to tech startups on their progress through the onboarding process; provide a named contact, guidance and feedback; encourage good practice and improvement; and to commit to implementing this process six months from signing the pledge and providing bi-annual feedback in the first year.

“Building partnerships with established institutions is a fantastic route for fintechs to drive positive change in finance, be it underpinning

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Technology
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SPDR Technology Select Sector Fund ETF (ETF:XLK), (XLC) – 3 Sector ETFs To Play For A Biden-Harris Win

Election Day is less than two months away and with that in mind, now is an excellent time for investors to consider sector-level implications of two the possible outcomes of this year’s presidential election.

Those implications run deeper than simply assuming a Biden-Harris Administration would be bad for fossil fuels stocks, though that’s probably a safe bet. Of course, there are some sectors that could get a “Biden bump,” some of which are already among this year’s best-performing groups.

Likewise, if President Trump wins reelection, that’s not necessarily a death knell for some of the sectors and industries thought to perform well when Democrats are in the White House. The last two years of price action in clean energy exchange-traded funds proves as much.

Here are three to sector ETFs to consider if former Vice President Joe Biden becomes President Joe Biden.

Consumer Discretionary Select Sector SPDR (XLY)

Or any

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Technology
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TechUK urges government to back emerging digital clean technology sector

Already existing digital technologies have the potential to deliver a 15% reduction in carbon emissions by 2030 while also contributing significantly to the UK economy, but policy interventions are needed to create the right business environment, claims a new report.

Launched during London Tech Week on 7 September, the report by TechUK and Deloitte, How to make the UK a digital clean tech leader, suggests that digital technology already in the field can enable a 7.3 million tonne reduction in UK carbon emissions, or 15% of the 48 million tonnes carbon dioxide equivalent (Mt CO₂e) needed by 2030.

“The vast majority of this [decrease] comes from the application of smart grids to energy networks, followed by the use of Industry 4.0 technologies in manufacturing. Remaining carbon savings come from agriculture, mobility, and smart building technologies,” said the report.

The economic analysis conducted by Deloitte also suggested already existing digital

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Technology
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Technology sector propels stock markets to positive start to September

TORONTO – The technology sector propelled North American stock markets to a positive start to September with Shopify Inc. hitting a record high on the TSX.

Canada’s largest company by market capitalization surged 6.7 per cent, as the sector climbed 3.8 per cent overall, with Kinaxis Inc. up 7.9 per cent and BlackBerry Ltd. nearly 7.1 per cent higher.

In the U.S., the S&P 500 and the Nasdaq composite closed at record highs as shares of Netflix Inc., Apple Inc. and Zoom Video Communications Inc. rose.

A continued surge for technology was one of the main themes Tuesday, said Kevin McLachlan, portfolio manager at Fiduciary Trust Canada, part of Franklin Templeton Canada.

“These companies were less affected by the pandemic lockdowns and the economic slowdown and as a matter of fact, their businesses have in many cases benefited because people are using technology…to continue to work from home, to connect

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Technology
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Green Recovery in the Mining Industry Through Energy Efficient Drives Technology

The mining industry must forgo its traditional energy consumption patterns, in a bid to ensure that the sector de-carbonize towards a greener and sustainable method of exploration. Given the need to increase energy supply in a globally carbon constrained environment, the mining trade needs to improve its energy efficient technologies, such as electrical variable speed drives, which could reduce energy consumption drastically.

The fundamentals of AC Variable Frequency Speed drive technology persist, but many elements are rapidly changing in aid to move towards a more sustainable and environmentally friendly mining future. Increasingly, software is embedded in today’s mine processing components, offering new functionalities and enabling the AC drive to play a larger role in the processing plant.

“Conventionally, motors run at a fixed speed, regardless of actual output requirement, wasting a tremendous amount of energy. Energy output use can be reduced by 60%, by controlling motors with electrical Variable Speed

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Technology
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IGT Sole Gaming Industry Supplier with Three Wins in Casino Journal’s 2020 “Top 20 Most Innovative Gaming Technology Products Awards”

LONDON, Sept. 17, 2020 /PRNewswire/ — International Game Technology PLC (NYSE: IGT) announced today that its Hexbreaker 3 slots game, PeakBarTop cabinet and PlaySports Bank and PlaySports Pod were all winners of Casino Journal’s 2020 “Top 20 Most Innovative Gaming Technology Products Awards.” IGT was the only gaming supplier to win three positions on the esteemed 20-product list of gaming innovations.

In its 23rd year, Casino Journal’s annual award program recognizes the most innovative technology offerings in the gaming industry and is judged by a panel of accomplished professionals representing varied dimensions of the casino gaming sector.

“IGT’s success in Casino Journal’s 2020 ‘Top 20 Most Innovative Gaming Technology Products Awards’ is a reflection of our pioneering spirit and commitment to developing and delivering growth-driving solutions for our customers worldwide,” said Renato Ascoli, IGT CEO, Global Gaming. “IGT’s Hexbreaker 3 game, PeakBarTop cabinet and PlaySports Bank and

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Technology
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Advancements in technology often rooted in agriculture | News, Sports, Jobs

Picture this — cows walking on their own to the barn. A robotic arm reaches out to clean their udders. The “arm” attaches suction cups. The cows are milked. They leave and head back to the fields.

No humans touch the cows during the process.

No, this is not from a futuristic movie. This is 21st century technology that is firmly embedded in today’s farming business.

The marriage of farming and technology is not a new one, according to Liam Migdail, communications director at the Pennsylvania Farm Bureau.

“Using technology has been there for centuries,” Migdail said. “If you look at some of the inventions that we think of as being the most economically significant, a lot of them are an agricultural invention.”

Migdail cited the plow and the cotton gin as early examples of technology created for farming.

“When you look, over time, some of the advances in technology,

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Technology
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How Technology Will help Public Sector Provide Better Service

The public sector is slowly embracing digital transformation and implementing them in their service to offer better service to citizens.

FREMONT, CA: Public sector organizations are adopting new technologies to offer a better adaptive experience for digital citizens. Technology trends help public sector companies concentrate on government operations, which go beyond pilot programs, and each of the trends has been seen globally, impacting the rising government markets and the economically advanced nations. 

Another common factor among the trends is that they can notice the public sector continuously developing with artificial intelligence (AI). They are doing it by prioritizing data as their core and facilitating progress at a rapid speed. 

The Growth of Data and AI Ethics

In this digital era, data has become an essential factor. But it is necessary to have a closer look at processes in which the public sector manages the ethical intricacies in big data.

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Technology
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North Carolina Appoints First Chief Technology Officer

For more than four years, Dan Kempton served as director of engineering and cloud services for the North Carolina IT Department. He is now the state chief technology officer, a newly created role.

North Carolina has named its first chief technology officer, Dan Kempton, according to the state’s Department of Information Technology (NCDIT) website. 

An NCDIT spokesperson said in an email that Kempton’s team “will encompass functions from various areas of the department.”

“We are especially excited about this new enterprise role because it will enable NCDIT to establish stronger relationships with private industry to help propel us forward, strengthen strategic planning, leverage the value of unifying the state’s IT resources, and finally, enable us to be more adaptable to situations like we have faced with COVID-19,” the spokesperson said. 

Kempton had been head of engineering and cloud services for NCDIT. He has also served as CTO and deputy CIO

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Technology