From the politicians who reluctantly voted for it, to the millions who must now make a choice and cast their vote, everybody surely knows it: this is a very, very weird election. I mean that not just in terms of the borderline absurd timing, nor the sense that it will not resolve the fundamentals of Brexit, but much deeper tensions and contradictions.

Large chunks of the public seem weary, and ill-disposed to both main parties; to ask a lot of people who they might vote for is to invite long sighs and eye-rolls, and suggestions that the whole thing is ridiculous. It has always been the case that when politicians, party activists and the media dissolve in excitement and passion, most people tend to keep their distance. But now the gap is so big, and political outcomes seemingly so random, that there is a resulting sense of big events happening almost by accident.

The fact that the media carries on with rituals unchanged in 50 years identify the target seats! Bring on the psephologists! Do 10-second vox pops! only compounds the oddness. The best example of the absurdity of what passes for the national conversation is the attention still paid to opinion polling: on Sunday, reports suggested the Tories were variously leading Labour by eight, 16 and 12 percentage points. Meanwhile, Nigel Farage was on the BBCs Andrew Marr Show again. At the same time, the stakes could not be higher: one way or another, its clear that this contest will mark a historic tipping point not just for politics, but the future of the country.

What is it all actually about? As in 2017, there are at least three elections going on at once: the contest about Brexit and the ludicrous idea that we will soon get it done conceived by the Tories and pounced on by the Liberal Democrats; Labours great debate about austerity and inequality and the mixture of both, woven through with the question of independence, defining the battle in Scotland, and centred on the Scottish National party.

The extent to which the public buys into these narratives is open to question: three years of anticlimactic pantomime over Brexit have only increased peoples distance from politics, and 40-odd years of dealignment and waning loyalties apparently mean that nearly half of us might switch to a different party from the one we backed in 2017. Thanks to our creaking electoral system, support for the newly energised Lib Dems, the Brexit party and the Greens could have no end of unforeseen consequences, or very few at all. All that is certain is that those staunchly partisan voices that echo around social media are in a small, somewhat freakish minority: far more people are politically on the move, almost constantly.

Thanks to the means we now use to communicate, what is going on is probably more complicated still. Thousands millions? of personalised micro-campaigns are already unfolding on peoples social media feeds, defined by many forces and voices way beyond the party machines and the traditional media, and often beyond anyones control.

In the digital age, capitalism has constructed ways of blindsiding its opponents and distracting the public at large

Two years ago, a big part of Theresa Mays undoing was the way that an avalanche of mocking memes quickly rendered her a laughing stock; similar things will happen this time, but it is not yet clear who they will affect, and how. Twitter may have suddenly banned political advertising, but that probably means there is all the more reason for plenty of actors to use the subterfuge of bots, fake accounts, and all the rest. We know that CTF Partners, the lobbying firm run by Boris Johnsons confidant Lynton Crosby, was recently caught overseeing pro-Brexit Facebook ads purporting to be the work of grassroots activists. We know too that the Conservative party has hired people closely connected to CTF, well versed in the most slippery online campaigning techniques.

This weekend brought the unsurprising news that Facebooks policy of allowing lies in political adverts will apply to the UK, which will obviously suit plenty of people just fine. Its clear that the Tories are prepared to use falsehoods in their online campaigning: in September, they put ads on Facebook presenting a BBC report about 14bn of schools funding as if it was a fact, when the report in question actually criticised the figures credibility. The fines levied on the official leave campaign for funding breaches related to online activity and sending thousands of people unsolicited text messages shine unflattering light on the presence of many of its former high-ups including, obviously, the prime minister at the heart of government (we now know that a file relating to the former transgression was passed to the Crown Prosecution Service last month). And before anyone on the left starts feeling too smug, let us at least acknowledge that there are those who make the case for Labour online some closely connected to the party machine who have a somewhat loose relationship with fact, and a tendency to pursue their objectives using nastiness and misinformation.

Bluntly put, it is not the 20th century any more, and that is not just about online dirty tricks, but peoples very understanding of what an election means. The occasions when an election could thrash out national differences, decide a victor and then accord them the stability and space to implement their programme belong to another age, along with Thatcher, Churchill, Attlee and the rest. The accelerated, saturated culture we now live in fosters so much irreverence and cynicism that the very idea of people and parties claiming they have all-encompassing solutions to the countrys problems can easily look absurd, something Boris Johnson like Donald Trump seems to consciously trade on, pushing politics towards the absurd as a matter of conscious strategy.

This isnt to say that seriously radical intentions such as those of the reinvented Labour party are illegitimate, nor that all kind of unfairnesses and inequalities are in dire need of those kind of answers. But in the digital age, capitalism has constructed ways of blindsiding its opponents and distracting the public at large way beyond the old opiates of the masses, and it is an onerous task to even begin to shift them.

Clearly, the internet has political benefits that suit progressive people and parties, from the ease of crowdfunding, through the way that activists can quickly form networks, to information channels that can bypass the orthodox and often rightwing media. But at the current stage of the online worlds evolution, these things seem to be constantly overshadowed by the way that the cacophony hosted by the big platforms scrambles meanings, promotes the worst kind of discourse, and sows confusion. This is less about messages than the medium: once politics moves online, it tends to operate in a context of disbelief, cynicism and the kind of endless tribal warfare that rarely achieves any resolution. No one really wins.

In the 21st centurys political culture, few stories develop any traction, and scandal and lies almost seem to be priced in to peoples expectations. As Trump and Johnson prove, politics may now be more about camp, performance and the imperative to crash around the right online platforms than the idea of actually achieving anything. And nothing is ever concluded. What transpires on Friday 13 December will have a big influence on the future. But the day after, the usual noise and confusion will resume, as our politics continues to evolve in ways we are only just beginning to understand.

John Harris is a Guardian columnist

See more here:
Elections used to bring us solutions. The 2019 general election wont - The Guardian

Enter the simulated journey into the personified mind of 'Technology'.

Artist AlanJames Burns has announced the launch of an exciting immersive VR experience, Silicon Synapse, a Virtual Reality and psycho-acoustic installation in the historic Carnegie Library, Swords, Fingal from November 13 to December 15 2019.

Silicon Synapse is an immersive Virtual Reality and psycho-acoustic experience that will take you on a simulated journey into the personified mind of 'Technology'. Listening to the inner dialogue of 'Technology's' mind as it replays both sides of a lovers' quarrel. 'Technology' and its life partner 'Nature' argue about the sustainability of their relationship and their future as a couple. Silicon Synapse explores evolution, genetic engineering and transhumanism. Each viewer is engulfed by a conscious dream-like realm, as they travel through intense listening and visual experiences.

You can experience Silicon Synapse within the repurposed historic setting of the Carnegie Library, in Swords, Co. Dublin. This library was once a place of knowledge and learning, shaping the minds and synapses of thousands. Now you have the chance to enter through the remnant doors of this library, and into the imagined mind of the silicon technology, which has largely replaced it.

Created by AlanJames Burns, Silicon Synapse is a collaboration with Writer Sue Rainsford, Artist Jason Dunne and Composer Michael Riordan. The artwork is jointly commissioned by the Fingal County Council Arts Office, as well as the European Commission's SciArt programme, and is funded by the Arts Council of Ireland's Open Call Award. Silicon Synapse is a part of the Fingal Arts Office's 8 year strategy leading to the development of the Swords Cultural Quarter Project. It is concurrently exhibited at the European Commission's Joint Research Centre, Milan, Italy as part of Resonances: Big Data 2019 Festival.

Tickets are available now from http://www.siliconsynapse.net.

Original post:
Artist AlanJames Burns to launch immersive VR experience in Swords - hotpress.com

TheGame of Thronesprequel series,House of the Dragonwas recently announced alongside the launch of HBO Max. The series is set to follow the Targaryen family, 300 years before the events of the main TV show that HBO has become so famous for.

RELATED:10 Facts You Need To Know About House Targaryen

The show is set to revisit the Dance of the Dragons that has been alluded to and talked about in the show and books. There's been spin-off material that's further investigated this civil war, but it's unknown whether this will be taken into account when the showrunners produce the latest Westeros series. We're therefore asking 10 questions that we want answering in the prequelHouse of the Dragon.

Click the button below to start this article in quick view

If the series titled theHouse of the Dragonsthen we're definitely going to be seeing some dragons. The budget for the series is huge and so we can assume that a significant portion of that will be going on the CGI for these fictional creatures.

We know that Westeros was heavily populated by Dragons but we're not sure how many there actually were. Very few could actually ride and control these beasts, but how many dragons did House Targaryen really have? Also, how many non-Targaryen's could actually ride a dragon? We've only seen JonSnow, Dany and the Night King mount the beast.

The dragons originally died out because of the way they were bred and looked after. The creatures were kept inside like dogs and certain characteristics were bred out of them. What was left were dragons that were getting smaller and weaker over the years.

We want to know when this started and whether it was a conscious effort from the Targaryens to control the dragons further. Perhaps this was a plot from an outside source to take the dragons off the table however, manipulating events to benefit them in the long run.

We'd also love to know how much effort was put into protecting these creatures. The dragons really were the main weapon of the Targaryens and secured their power for so long. As they realised that the dragons were becoming just too weak, were there efforts to stop this?

RELATED:Game of Thrones: 10 Hidden Details About Daenerys Targaryen's Costume You Didn't Notice

We can imagine that the house would mourn the loss of their pets and perhaps sought to understand why they had allowed this to happen. But was this something that they actually couldn't control and instead it was a state of natural evolution they were really trying to slow?

There's always been an assumption that the Targaryens are genetically always going to go mad at some point. The mad king emerged from the Dance of the Dragons and it appears this civil war was also based, in part, on the madness of this family.

It's been suggested that this happens because of the inbreeding of the family. However, other royal families have also used the same methods to secure a strong family line and they are not known for the same madness. Having said that, Joffrey was just as cruel and mad, as well as being a result of incest.

We've spoken about the madness that is present in the family, but how many members of House Targaryen are actually mad? A civil war, the likes of which had songs and stories written about it, doesn't start with sane heads in command.

It's very possible that the members of the family responsible for the creation of this awful war were, in fact, both mad themselves. We'd love to know if the kingdom was ruled in a really erratic way during this time period, or whether there were others who managed to right the ship slightly.

Manipulation is one of the biggest games to play when fighting for the throne. During this huge battle it's likely there were a number of players that just weren't being fair. We can imagine that house Targaryen was actually quite easy to manipulate during this time.

RELATED:Game Of Thrones: 5 Moments Daenerys Targaryen Was A Genius (& 5 She Wasn't)

Much like Littlefinger, it's likely that someone was pulling the strings. There has to be some genius in the shadows watching the chaos unfold. If this is the case then we'd love to know who it really was, as this individual has probably been ignored by history.

This is set during an era where many of the major houses still exist. While some are not quite as mighty as they are today, or perhaps are cut off from the rest of the world, there are still some pretty big players on the board.

We really want to know which major houses involved themselves in this conflict. We know the Starks usually try to avoid something like this, but perhaps they were more linked to the conflicts than we realize! What of houses like the Tyrells or Lannisters who are so famous 300 years later?

Speaking of the other houses, we'd also like to know what state Westeros is actually in. Geographically speaking the landscape will be the same, but the physical structures, as well as the political geography, will not be.

We hope we get an opening sequence similar to that ofGame of Throneswhich helps to explain exactly what Westeros looks like in this time period. The kingdom is in a constant state of flux so it will be useful to get some kind of context before jumping into the story.

Every story has a hero and a villain but who exactly should we be rooting for? It's easy to look back on the history of Westeros from an objective perspective. We have no strong opinions on which side should have actually won but it's useful for fans of the show to know.

The show is bound to tell this story from one side and allow us the option to root for someone. It's difficult to tell which point of view they will show us the conflict though, as it cannot be from the eventual winner as both sides essentially lost during the battle.

The White Walkers are said to be alive and well for over 8000 years. This means that during this time period they are very much active beyond the wall. However, was this known to the rest of the kingdom, or was it only really the Night's Watch fighting them off?

There's every possibility that there was a rise that was never reported and that the whites had been defeated once before. The series could completely ignore all of this though as to not conflict withGame of Thronesmuch later on.

NEXT:Game Of Thrones: 10 Potential Storylines For The Targaryen Prequel

Tags:game of thrones

Continued here:
Game Of Thrones: 10 Questions We Want Answered By The House Of The Dragon Prequel - Screen Rant

Modena Nov 10, 2019 (Thomson StreetEvents) -- Edited Transcript of Bper Banca SpA earnings conference call or presentation Friday, November 8, 2019 at 8:30:00am GMT

BPER Banca S.p.A. - MD & Director

BPER Banca S.p.A. - Head of Planning & Control

BPER Banca S.p.A. - CFO

UBS Investment Bank, Research Division - Associate Director & Equity Research Analyst of Italian Banks

Good morning. This is the Chorus Call conference operator. Welcome and thank you for joining the BPER Third Quarter 2019 Consolidated Results Conference Call. (Operator Instructions)

At this time, I would like to turn the conference over to Mr. Alessandro Vandelli, CEO of BPER. Please go ahead, sir.

Alessandro Vandelli, BPER Banca S.p.A. - MD & Director [2]

Okay. Good morning, ladies and gentlemen. Thank you all for joining this conference call today about our 9 months 2019 results. This is Alessandro Vandelli, CEO; and I'm here with Roberto Ferrari, CFO; Alessandro Simonazzi, Head of Planning and Control; and Gilberto Borghi, Investor Relations Manager.

Before going into details about our 9 months results, let me briefly highlight a few key points, which help, in my opinion, to have a clear picture of the state of the (inaudible) after the period, full of important(inaudible) . Please go to the executive summary of the presentation on Page 5, which is already available on our website.

So far, 2019 has been a very busy and demanding year. We are close to the end of this 2019. I think we can be very proud of what we have been able to realize. In few words, we have successfully combined a growth strategy to the enlargement of the group perimeter, with a strong clear improvement in asset quality, and at the same time, confirming the solid capital position and a good level of profitability.

You all know the details of the deals that we closed at the end of July, so let me only express the greater discretion for having positively completed important activities for the growth of the group. As a result, Interbank and Arca Holding became part of the group's scope of consolidation starting from July 2019.

Now I'd like to focus on a few leading points that, in my opinion, represent a sort of a feel of our storytelling. With our 5 key words, the first one is growth. Our group has grown significantly in terms of total assets, reaching over EUR 80 billion of total assets and climbing to EUR 172 billion of total funding, mainly thanks to the change in the scope of consolidation. We are going to see some details in the next slide.

The second word is asset quality. Asset quality strongly improved. Gross NPE ratio now stands at 11.6%, down by more than 2 percentage points since the beginning of the year; by 8.3 percentage points since January 2018; and circa 12 percentage points since the peak of the crisis in [mid-2015] when we had an NPE gross ratio of 23.5%.

Default rate is at 1.6% annualized versus 1.9% in 2018 and versus the peak of about 7% in 2013. All these figures clearly show the strong step forward in asset quality of our group year after year.

Moreover, we have already started the activities for a new securitization of a portfolio of bad loans expected by the end of first half 2020, with the aim of reaching over 1 year in advance the target of the gross NPE ratio well below 9% set in the business plan for 2021.

The third word is capital. Our capital position is very strong, even after the completion of the (inaudible) and the derisking achievements. We have been able to manage capital in a very effective way, and we continue to be very solid with a (inaudible) migration fully phased as of the end of Q3 at 12.36%, up, respectively, by 3 bps versus Q2 and 41 bps versus December 2018.

Profitability is the fourth word. All in all, our profitability is resilient despite the difficult macroeconomic scenario and low negative interest rate levels, even on ordinary basis.

9 months 2019's paid net profit at EUR 522.9 million, which is not directly comparable to the same period of the last year because of the change in the scope of consolidation and some significant nonrecurring items, likely in the third Q, bad will generated by the acquisition of Unipol Banca of EUR 353.8 million and higher loan loss provisions, also in line with expected acceleration of the derisking process.

In the first half '19, we have other negative nonrecurring items for a total of EUR 22.9 million. Having said this, I'd like to highlight the resiliency of revenues, in particular, the net commission, which show a very good performance, both year-on-year and Q-on-Q, and the decline of operating costs on a like-for-like basis as we are going to see later on.

The last word is business. We recorded a positive development of the commercial activity, especially in mortgages, showing an overall increase in the new production by 5.9% and over plus 40% in the residential mortgages segment. Toward the end, we are perfectly conscious that our job has not been finished yet. In fact, we are working on another bad loan securitization, for example. But our track record can make things happen, and our solid capital base and profitability expectations are a good starting point to think optimistically for the near future.

Now let's go quickly into the analysis of the 9 months, starting from the balance sheet. We can move on to Page 7. So first of all, balance sheet and the total funding, the consolidation of Unipol Banca and Arca Holding, significant change this -- the shape of our funding structure, in particular, concerning assets under management and assets under custody.

Total funding grew from EUR 94.7 billion in June '19 to EUR 172.1 billion in September '19, with Unipol Banca and Arca Holding contribution, respectively, of EUR 63 billion and $14.8 billion.

Let's turn to Page 8. So we have direct funding, and we can see more details about the breakdown of the direct funding, which comes at EUR 58.2 billion from EUR 51 billion in June '19, with the contribution of Unipol Banca of EUR 9 billion.

Customer funding now stands at EUR 55 billion, with a large portion of current accounts and sight deposits, which accounts for EUR 46.8 billion, mainly due to the conservative approach of customers to investments in the current difficult economic and financial environment.

The institutional funding dropped to EUR 3.2 billion, mainly due to the zeroing of the repos segment. In Q4, we're going to have maturities of EUR 0.5 billion of retail bonds, of which EUR 0.3 billion related to a Tier 2 bond issued by Unipol Banca, at a very high coupon. This will help our job in reducing cost of funding in the coming quarters.

On Page 9. Here, as I said before, we can see the significant contribution of Unipol Banca and Arca Holding to indirect deposit, both in assets under custody and assets under management and, a lesser extent, Bancassurance.

But it's worth mentioning that indirect funding and Bancassurance stock climbed close to EUR 114 billion. That's an important number, probably the highest after the 2 big group, dependent big groups, in the back (inaudible). And we can see details in the table on the slide.

But I'd like also to underline that on a like-for-like basis, we can appreciate a growth in all aggregates versus December '18: assets under custody, plus 11.4%; assets under management, plus 7.2%; and Bancassurance, 10.1%. Moreover, in the third Q 2019, positive net inflows, both in assets under management and life insurance segment, which represent notable results for the period.

Moving on to 10. Cost of -- gross and net customer loans are, respectively, at EUR 56 billion and EUR 52.5 billion. As you know, our strategy provides for particular focus on mortgages, and within that, our -- the residential segment.

On this side, we recorded an increase by 1.5% on the-- of the stock of mortgages, also supported by good performances of mortgages new production, up by 5.9%, with a particularly strong increase of residential mortgages segment, up by 40.6% versus the same period of 2018 on a like-for-like basis.

In the third Q 2019, we accounted also the well-known bad loan disposal of circa EUR 1 billion of GBV to UnipolRec. The good quality of the performing loans book is still confirmed with very low bucket of high-risk exposures.

Let's turn to Page 11. This page can have a confirmation of the amazing job we have done on asset quality improvement. Gross NPE ratio fell down, respectively, by 2.1 percentage points versus June '19 and 8.3 percentage points versus January '18. It's worth remembering that we stood at 23.5% in mid-2015 . It is obvious that this is not the target we have in mind, and in fact, we are committed to this already further on derisking.

As I've said, we have already started the activities for a new securitization of a portfolio of bad loans expected by the end of the first half 2020, with the aim of reaching over 1 year in advance the target of a gross NPE ratio below 9%, setting the business plan for 2021. We are confident to be able to deliver successfully as our track record clearly shows.

A brief look at the fourth Q '19. We have the consolidation of Unipol Banca and the bad loan disposal of about EUR 1 billion GBV to UnipolRec. In the end, the gross NPE stock decreased to EUR 6.5 billion, that means the ratio of 11.6%. NPE coverage decreased to 51.1% due to the different NPE mix, decrease of bad loans and increase of UtP and past due.

Moving on to Page 12. We can appreciate a significant improvement of the default rate, which stands at 1.6% annualized compared to 1.9% in 2018. We can also focus on the strong improvement of bad loans recovery rate, which comes at 6.1% annualized compared with -- to 5.3% in 2018.

This is a confirmation that our servicing platform, BPER Credit Management, is a very efficient machine, and it is doing an outstanding job and playing an important role within our overall NPE strategy.

Now we can move on Slide 13. The security portfolio went up versus June '19 by EUR 1.6 billion at EUR 18.8 billion, mainly due to the contribution of Unipol Banca, a consolidation of EUR 1.2 billion.

Italian government bonds are at $6.4 billion, EUR 1.1 billion from Unipol Banca, weighing 34.2% of the financial assets portfolio. We continue to follow our strategy to diversify the financial portfolio and not to be too concentrated on the Italian sovereign risk. Total bond and Italian govies portfolios duration are, respectively, 3.1 years and 4.3 years.

Now we can move to -- on to focus on those figures on Page 15. 9 months '19 stated net profits to that EUR 522.9 million compared to EUR 358.1 million in the same period of 2018. The 2 figures are not directly comparable mainly because the change in the scope of consolidation this quarter as well as some significant nonrecurring items in the 2 periods.

On a like-for-like basis, net profit in the 9 months is EUR 143.7 million, including higher loan loss provisions, were also in line with expected acceleration of the derisking process to be implemented through a new securitization of bad loans.

But what is worth noting is that core revenues, NII plus net commissions, on a like-for-like basis and net of accounting effects related to IFRS 9 and 16, but for a bank [under] a strong [reason] as BPER as significant are substantially stable year-on-year. The decrease of NII of 1.1% is offset by the increase of 1.4% of commissions.

Moreover, operating costs declined by 1.2% year-on-year on a like-for-like basis. So overall, apart from extraordinary item, I think that this 9 months results showed some supportive trends, both on the revenue and cost side.

We can move on very quickly to Page 16, where we report the quarterly figures. Net profit of the third Q of EUR 422.4 million and 42 -- EUR 43.2 million on like-for-like basis. Also, in this quarterly view, we can recognize more or less the same trend on a like-for-like basis, commenting for the 9 months results: a resilient NII; good performance of net commissions; decreasing operating costs; and as we noted that the third quarter accounted high loss provisions (sic) [higher loan loss provisions], also in line with expected further acceleration of the derisking process.

We can move very quickly to the main trends related to the profit and loss, starting from the net interest income on the next page, 17.

Here, we can show a resilient NII in Q3, which came at EUR 259 million on a like-for-like basis and net of IFRS 9 and 15 effects, increasing compared to EUR 257.6 million in Q2 or plus 0.5% quarter-on-quarter. For a bank like BPER, under significant derisking process, the impact of accounting changes to IFRS 9 and 15 are particularly relevant. So for this reason, I think it's important to look at the ordinary trend, which shows a remarkable resiliency. On a like-for-like basis, 9 month '19 NII decreased by 4.2% year-on-year, but only 1.1% year-on-year, if we exclude the IFRS 9 and 16 effects. Considering the current difficult macroeconomic scenario and low negative interest rate environment, I think it's now a negligible result.

Net commission on Page 18. We are very satisfied of the net commission trend. In the 9 months, our net commissions stood at to EUR 656.1 million or EUR 585.2 million on a like-for-like basis, up by 1.4% year-on-year, mainly supported by positive overall performance of assets under management, plus 2.9% year-on-year, and Bancassurance at plus 19% year-on-year. These positive results are perfectly in line with our goal to improve our approach toward fees-oriented businesses, in which we are investing a lot in terms of resources.

On Page 19. In the 9 months '19, trading income were positive at EUR 77.2 million, $62.3 million on a like-for-like basis, which is not comparable with the third Q '18 for the presence of nonrecurring items. This is well explained by the call out in the slide, which you can read.

Trading contribution in Q3 is positive EUR 49.7 million, EUR 34.9 million on a like-for-like basis. The increase compared to EUR 5.4 million in the second Q of '19.

Moving forward on Page 20. Also, in the operating costs, the 9 month results showed a good performance. 9 months operating costs stood at EUR 1,071.8 billion, $998.9 million on a like-for-like basis, down by 1.2% year-on-year. The quarterly trend recorded a much more positive result. It was a drop by 8.2% quarter-on-quarter, particularly due to the usual seasonality and staff costs of the third quarter of the year. Other administrative expenses and D&A, impacted by the accounting effects of IFRS 16 and not directly comparable on a year-on-year comparison.

On the pro forma, the needs met our IFRS 16 effect. And the like-for-like basis, administrative expenses, and D&A down respectively by 1% and 10.8% year-on-year.

These are an encouraging signals of improvement given the positive expectations we have on cost side, when all of the actions included in the business plan will be fully implemented.

On Page 21, we recorded in 9 months, higher loan loss provision at $161.1 million and EUR 143.3 million on a like-for-like basis. This was due mainly to higher loan loss provisions booked in the Q3, also in line with expected further acceleration of the derisking process related to a new securitization, we are working on. You know that the aim, as I said before, of reaching over 1 year in advance fixed target of a gross NPE ratio below 9% set in the business plans for 2021.

Consequently, cost of credit raised to 78 bps versus 47 in 2018.

About liquidity. On Page 23. The liquidity position is solid, thanks to the growth of the total eligible assets now at EUR 20.9 billion, increased by 11.7% versus the end of 2018, along with a bucket of unencumbered eligible assets of EUR 10.6 billion, and asset liquidity of EUR 2.2 billion made by deposits with the ECB. Both LCR and NSFR ratios stand well above 100%.

On Page 24, we were able to confirm our solid capital position, even after the completion of the strategic transaction.

CET1 fully phased is at 12.36%, up by 3 basis points compared with 12.33% in June '19 and up by 41 bps versus 11.95% at the end of 2018. In my opinion, this is a very important achievement confirming our ability in capital management and the focus of the group on capital solidity. There are moving -- many moving parts affected the capital ratios in this quarter.

In summary, we were able to slightly increase our CET1 ratio versus the last quarter by 3 bps, with a mix effect of the following factors: related to ordinary activities, we have a positive contribution, in particular coming from retained earnings, including for quarter dividend, showing a good internal capital generation ability.

RWA reduction mainly driven by loan reduction in the large corporate segment and the disposal of EUR 1 billion of GBV, lower amount of deduction and other elements. And negative impact came from write-down related to shareholdings. Related to the strategic operations, we have positive impact from Banco di Sardegna minority acquisition, plus 56 basis points, more than offset by the acquisition of Unipol Banca, minus 94 bps, and Arca Holding incremental stake, minus 20 bps.

Now in conclusion, let me highlight briefly key messages on the Page 26. The main messages we can get from the 9 months results are solid capita. Once again I must underline the effectiveness of our capital management strategy, especially in light of the extraordinary deals, along with a very comfortable liquidity position. This is confirmed by the common equity Tier 1 fully phased at 12.36%.

Second, asset quality. Our current gross NPE ratio is at 11.6%, which can be considered a very good achievement, if we consider that it stood at 19.9%, just at the beginning of 2018.

As I said before, our target is to go well below 9%., and we are taking action to reach this level by the end of the first half 2020, over 1 year in advance of what is embedded in the business plan for 2021 through a new bad loan securitization.

Third, profitability. All of these achievements come with a good profitability trend, net profit and revenues are a resilient and operating costs are showing signals of improvement. Starting from the situation and considering the expected benefits from the extraordinary deals and from the business plan actions, our group has the opportunity to reach a good and sustainable level of profitability going forward.

So overall, we have a satisfactory situation, a good starting point for the rest of the year and for challenges of 2020.

Now, thank you all for your time and attention. And we are going to start the Q&A session and to take your questions. Thank you, again.

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Questions and Answers

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Operator [1]

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(Operator Instructions) The first question is from Domenico Santoro with HSBC.

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Domenico Santoro, HSBC, Research Division - Analyst [2]

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I do have a number of questions. I might go one by one, if you don't mind. I'm looking at the NII, in particular, and the contribution from Unipol is a bit softer compared to the numbers that you gave in the last presentation. So I'm just wondering whether here is a different accounting or something happened that I'm missing?

And if you can also give us the expected evolution given the funding synergies that you envisaged in the plan, in particular, on the instruments that you mentioned in the call, that are going to expire going forward. If you can mention, please, the average cost of these instruments and the phase out over the next 2 years, please.

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Alessandro Vandelli, BPER Banca S.p.A. - MD & Director [3]

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Okay. Thank you very much Santoro for your question. Let's say, overall, we consider a very positive trend of the NII. Let me say that meaningful results on this line are in line with our expectation. What I can say is that probably try to understand the evolution of the NII for the next year, probably the third Q was the best way to understand what would be the next year trend. Let's say that in the last part of the year, we are -- we have subordinated loans of EUR 300 million. This is going to be a supplier. And the coupon of these subordinated loans is 6.07]. So for this reason, we think there would be an impact also in the last part of the year, but especially in next year.

Analyzing the evolution of NII, let's say that we have some positive elements, starting from TLTRO and the TRIM. And we expect to have a positive impact around EUR 1 million for [month] coming from these elements. And so this is an important point for the NII in the coming years.

And at the same time, you know that we are working on the cost of funding. And in particular, we see room in the funding of Unipol Banca. So let's say, looking at the third Q, the level on NII, yes, it is probably to see a decline in time value because we have a reduction of the stock of nonperforming, but we think that this could be offset by the elements that I mentioned before. So the expectation is to confirm during 2019, the level of NII of the third Q.

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Domenico Santoro, HSBC, Research Division - Analyst [4]

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Nice. On the cost and side -- on the cost side, sorry, if I analyze the level of Q3, I don't know whether is a problem accounting, again. And I add back the EUR 55 million, EUR 50 million run rate of Arca, which was not included in your target for 2021, I get exactly the number that you gave us for 2021. So also, the question here is whether we should include in our model, a better evolution of costs. I know that you mentioned in the press release some seasonality in the fourth quarter because of the integration on top of the restructuring costs, so more visibility here would be appreciated?

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Alessandro Vandelli, BPER Banca S.p.A. - MD & Director [5]

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Well, thank you. What I can say about the fourth Q 2019 is that there would be the cost of the redundancy play, because as you know, we completed the negotiation of the Union. And that in our business bank, we set a range between EUR 180 million and EUR 200 million. And now we can say that probably the cost will be on the lower part of the range, it's probably a little bit under EUR 180 million. But we are waiting at the end of the year to have a full picture on the costs related to the redundancy plan.

And about the restructuring (inaudible) the integration of Unipol Banca, indeed, we have already booked some of these costs in the third Q. So our expectation is something around, probably EUR 15 million, so not a significant amount is -- in particular, related to the integration of the IT. And we are working on this because at the end of November, we are going to have the measure of Unipol Banca in BPER. And let's say, this is another important achievement because you know that to complete the acquisition at the beginning of the year to complete the integration by the end of 2019 is an important element.

Yes. About Arca. Arca in our business plan was not present, is something -- an add-on, let's say, on our revenue and cost. I think that also here, the third Q could be a noncore to understand the evolution. Taking into consideration that typically BPER has in the third Q, a reduction on cost -- on staff cost, this is a typical trend. But at the same time, thanks to the conclusion -- the completion of the negotiations with the union, the expectation is to see, starting from the last part of 2020, some reduction in the cost -- in the staff cost.

I don't know, Alessandro Simonazzi, if you want to add something about this.

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Alessandro Simonazzi, BPER Banca S.p.A. - Head of Planning & Control [6]

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For what concerns the guidance for the future, we expect something better than what we declared in the business plan in terms of cost savings for the future. And so this is why probably you find something better than what we said before. For what concerns redundancy plan, the expectation after having delivered the agreement to the Unions, is to confirm the synergies that we stated in the business plan. Probably, there will be a fine-tuning in terms of phasing, but anyway, we confirm the main figures that we included in the business plan.

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Domenico Santoro, HSBC, Research Division - Analyst [7]

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Edited Transcript of BPE.MI earnings conference call or presentation 8-Nov-19 8:30am GMT - Yahoo Finance

GettyVaughn Benjamin pictured during a performance in Michigan in 2012.

Vaughn Benjamin, the lead singer of Midnite and Akae Beka, has died. He was 50 years old. Benjamins death was confirmed on November 5 through posts on the reggae legends Facebook page. Benjamins cause of death has not been made public.

Benjamin formed Midnite with his brother, Ron Benjamin Jr., keyboard and bass player, in St. Croix in the U.S. Virgin Islands in 1989. The pair are the sons of Antiguan music legend Ron Benjamin. An article on their father called Vaughn Benjamin one of the most prolific writers Reggae music has ever seen.

Heres what you need to know:

In 2015, Benjamin reformed the group without his brother and renamed the band Akae Beka. Benjamin said that the bands new name came from the Book of Enoch, chapter 68, verse 20-24. On the bands official website, it says that Benjamin is rooted firmly in the teachings of His Imperial Majesty, Emperor Haile Selassie I, his personal evolution and reaffirmed purpose is manifested in his newly declared name.

In an interview about Akae Beka, Benjamin said the new band was all part of the same conversation. Im more or less putting forward what Ive always put forward, which is original music, based in a historical view. Were just doing what we have always done.

VideoVideo related to vaughn benjamin dead: 5 fast facts you need toknow2019-11-05T08:42:33-05:00

Akae Beka had their first performance at a celebration for Nelson Mandela Day in Denver, Colorado, in July 2015. Benjamin said at the time that the concert came about following a life-changing last few months. An article on the bands debut at the time said that the group had been inspired to come together as a result of life changes, convictions and revelations.

Midnite Ras Mek Peace full albumMidnite.. Midnite Ras Mek Peace full album2015-02-05T02:45:07.000Z

Midnite released their first album in 1997, Unpolished. The bands first widely available U.S. release was 1999s Ras Mek Peace. The band recorded the album while living in Washington D.C. A review of the album described Benjamin as being the pure and conscious voice of roots reggae. The review went on to say, Play this record next to any vintage record from the likes of Spear, Marley and Tosh and youll find it on par with these noble predecessors.

Akae Beka Vaughn Benjamin explains why he never came in England to perform Reggae MusicEnglish Version Give thanks to Reggae Vibz Tv for taken 1 picture with the them (France) Give Thanks to Sakina to interview for Fred.Uni.T tv (London) Give thanks for the synchronization by GhostExpertiser (Martinique)2018-06-17T13:16:21.000Z

The band was heavily featured in the 2014 documentary, Escape To St. Croix. In total, the band released 11 albums, the last coming in 2014, Beauty for Ashes. That record was named as iTunes Reggae Album of the Year for 2015.

On Akae Bekas website, the bio says that Midnite were known during their five years living in Washington D.C. for performing three to five-hour sets.

WikipediaBenjamin pictured on his Wikipedia page.

Benjamin said in a 2014 interview with Reggaeville that he had lost track of the number of albums he had created. Benjamin told the website, I think its more than 50. To be honest there are many albums unreleased too so thats why I havent made it an issue. During that same interview, Benjamin spoke about being a feminist, the growing divide between the rich and the poor in the world as well as the growing number of greenhouse emissions.

VideoVideo related to vaughn benjamin dead: 5 fast facts you need toknow2019-11-05T08:42:33-05:00

A biography on Midnite said that the band relocated from their homeland in 1994 to live in New Jersey. From there, the band began touring across the east coast of the United States before settling in Washington D.C. Former Midnite drummer Ambrose Connor said of D.C. at the time, The reggae scene in D.C. circa 1995 was crazy! You could see live reggae music almost 5 nights a week. We played clubs like the Roxy, Takoma Station, Mr. Henrys, Kaffa House, State of the Union. The crowds were always positive and turn out was always good.

VideoVideo related to vaughn benjamin dead: 5 fast facts you need toknow2019-11-05T08:42:33-05:00

When it came to U.S. politics, Benjamin expressed support for U.S. Senator Bernie Sanders in 2015. Benjamin said in an interview, Bless, man. King Rastafari, bless. Bless all of Vermont, when asked about Sanders.

When asked about the election, Benjamin said that due to his religious beliefs he liked to keep his politics to himself. However, Benjamin went on to say But I do know that being candid, being forthright, being truthful, the people who are most fundamentally based in principle, they will end up having the most appeal in times when people are in desperate situations and looking for stability.

READ NEXT: Teenage Porn Star Controversy Rocks California High School

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Vaughn Benjamin Dead: 5 Fast Facts You Need to Know - Heavy.com

More and more people keep hopping on the vegan diet train. But why?

As the buzz about plant-based meat continues to grow, you may have found yourself wondering whether you should try out a plant-based diet. Vegetarianism and veganism have been practiced for thousands of years for a variety of reasons, and in 2019, it's become easier to give up meat and animal products, thanks to the plethora of plant-based alternatives (like the Impossible Burger, Beyond Meat burger and various cheese substitutes) that are so close to the real thing, they can turn the stomach of a years-long vegetarian.

If your last visit to Burger King has you wondering why you should should swap a beef Whopper for an Impossible Whopper, I'm here to dive into the various reasons people choose to go vegetarian or vegan and the impact those practices have on our bodies and our planet.

Read more: The best vegan fast-food options at KFC, Taco Bell, Burger King and more

A cross section of a Beyond Meat Burger

There's no shortage of evidence that eating lots of fruits and vegetables contribute to a healthy body and brain. In fact, some research suggests that vegans and vegetarians generally have better health markers than omnivores. In fact, many health experts recommend plant-based diets to people who have heart problems, high blood pressure, diabetes and other health conditions.

One big reason people give up animal products involves health concerns about animal protein, particularly red meat. For decades, public health officials and health practitioners urged consumers to eat less meat, especially beef and pork. They cited health concerns such as heart attack, stroke, cancer and more.

However, recent research revealed that people may have held the wrong conviction toward red meat for all these years, noting that the evidential ties between red meat, processed meat and illness were weak at best. Another long-held belief about red meat that its saturated fat content clogs the arteries -- was also recently debunked.

Read more: Essential kitchen tools for vegans

That said, no dietary recommendation is appropriate for every person, so take the evidence and do with it what you will. If you have poor reactions to animal protein, that's reason enough to try plant-based meat. And whether real beef or faux meat is healthier, well, that's the question of the decade (and probably the next one).

A vegan diet is worth trying out, especially if you're interested in the health benefits, animal welfare or potential environmental benefits.

This is a key reason for many people in their decision to start and continue a vegan diet. Many vegans strongly believe that all animals, including those that have long been staples in diets all over the world, have a right to life and freedom. That's certainly a fair standpoint, and having emotional attachments with animals often contributes to that view.

For example, research about the motives behind eating a vegan diet shows that having more pets early in life (and a larger variety of pets, e.g., not just cats and dogs) increases the tendency to avoid meat consumption later in life.

Read more: 9 vegan YouTube cooking shows you can't miss - CNET

If you're not ready to go full-out vegan but want to cut down on your consumption of beef for animal welfare reasons, replacing your typical beef burger with an Impossible Burger or a Beyond Burger the next time you eat out is a good start. Here's a list of places that have the Beyond Meat Burger on their menu, and a list of restaurants that serve the Impossible Burger.

Now playing: Watch this: Which plant-based burger is best? Impossible Burger vs....

5:50

If you ask a vegan why they decided to eat vegan, there's a good chance they'll mention something about the environment. Many people who eat plant-based diets are passionate about protecting the environment, and that's all with good reason -- we should all strive to do our part for our Earth.

Many consumers and even environmental experts attribute current environmental issues to animal agriculture, citing flashy statistics about greenhouse gas emissions, water and land usage, waste, labor costs and transportation involved in raising livestock.

But animal agriculture may not be as bad for the environment as you think. Some research suggests that even if everyone on the planet went vegan, greenhouse gas emissions would only drop by 2.6 percent. The earth would probably be better off if people focused on reducing food waste, minimizing single-use plastic, and using public transportation, walking or biking more than using cars.

Many people think that plant-based meats are the answer to current environmental problems.

Some people choose to eat a plant-based diet because they don't believe that humans need animal sources of food to survive and thrive. While there is some truth to that statement -- you can certainly meet your daily nutrient requirements on a vegan or vegetarian diet, even if you exercise a lot -- anyone on a plant-based diet should take steps to ensure they consume enough nutrients that come largely from animal sources. Those include vitamin B12, vitamin D, omega-3 and omega-6 fatty acids, calcium, zinc and iron.

Fortified plant-based foods, like the Impossible Burger and Beyond Burger, offer similar nutrient profiles to that of real beef. So if you're looking for plant-based alternatives but don't want to risk nutrient deficiencies, give one of these faux meat burgers a try.

Swapping faux meat in for real meat is a good way to enter the world of plant-based eating.

Some people choose plant-based diets for all the reasons on this list and some choose to eat plant-based simply because they don't enjoy animal protein and dairy products, or they have sensitivities to them -- like lactose intolerance.

At the end of the day, you don't really need a reason for choosing a plant-based burger over a regular burger -- you shouldn't feel obligated to explain your food choices to other people if you don't want to.

View original post here:

The top 6 reasons people go vegan, explained - CNET

Photo: Prince Williams (Getty)

Not only did Snoop Dogg hand out sandwiches at Dunkin this week to celebrate the release of its Beyond Meat breakfast sandwich, but he also beat out thousands of other workers to be named Dunkins Employee of the Month.

Its been rumored that Snoop might be secretly vegan, which Im guessing he isnt, because its impossible to be secretly vegan. Ive done short stints as a vegan, and I can confirm firsthand that eating a vegan diet makes you want to talk endlessly about how much better you feel on a vegan diet. Honestly, its great!

Maybe Snoops embrace of plant-based living is genuine, or maybe hes just well-compensated to say so, but who knows what the truth really is. One thing we do know for sure is that Snoop is an enthusiastic and tireless brand ambassador for Beyond Meat in all its many forms. He seems to love nothing more in this world.

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Last Call: Is Snoop Dogg vegan? - The Takeout

Eddie Huang, the author of the Fresh Off The Boat memoir that inspired the hit ABC comedy, announced this summer that hes now a vegan. Huang is also a renowned chef and owner of Taiwanese-Chinese restaurant Baohaus, located in New York City and Los Angeles.

It remains to be seen if Huang will stick with his vow to no longer eat meats, and how it will affect his restaurants menu.

Heres what we know about the reasoning behind his decision, plus a few other celebrities who went in the same direction as Huang and broke up with meat.

Huang co-owns Baohaus with his brother, Evan Huang, where they serve Taiwanese/Chinese cuisine consisting of very delicious-sounding, but un-planty items. For example, one item called the Chairman Bao is braised all-natural Berkshire pork belly served with Haus Relish, crushed peanuts, Taiwanese red sugar, and cilantro. In addition to pork belly, Baohaus also serves fried chicken and pork stew, all made with all-natural, antibiotic- and hormone-free meats.

Huang spells out the restaurants heart and philosophy on its website.

With [the restaurants] minimal menu, the brothers tore down everything people knew about Taiwanese-Chinese food and rebuilt it from the ground up.Baohaus isnt just a restaurant, itsthe place the brothers wish existed in their neighborhood when they were coming up. Our families came on boats, but now we on a spaceship, f*** with us.

Countless celebrities and public figures have also gone vegan for various reasons. Among them, former president Bill Clinton, mostly for health reasons. I like the vegetables, the fruits, the beans, the stuff I eat now, Clinton shared with aCNN reporter. All my blood tests are good, and my vital signs are good, and I feel good, and I also have, believe it or not, more energy.

Singer Carrie Underwood is a vegan but not a strict one. I am a vegan but I consider myself to be a practical vegan, shetold Entertainment Wise. If I order something on a menu and it has a sprinkling of cheese on top Im not going to send it back.

Former boxer Mike Tyson tried the vegan diet in 2010, and has since lost 100 pounds. Becoming a vegan gave me another opportunity to live a healthy life, he said on Oprah: Where Are They Now in 2013. I was so congested from all the drugs and bad cocaine, I could hardly breathe, [I had] high blood pressure, [was] almost dying [and had] arthritis. And once I became a vegan all that stuff diminished.

In August, Huang posted on Instagram that he could no longer eat meat, when he saw videos of the burning of the Amazon forest.

After watching videos of the Amazon on fire this week, Ive decided that this corned beef I ate at Juniors last week will be the last piece of beef I ever eat. I love beef, I love oxtails, I love Peter Lugers, I loved growing up in a steak house cutting NY Strip on Xanax. It was soothing but beef is f***ing us.

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After watching videos of the Amazon on fire this week, Ive decided that this corned beef I ate at Juniors last week will be the last piece of beef I ever eat. I love beef, I love ox tails, I love Peter Lugers, I loved growing up in a steak house cutting NY Strip on xanax. It was soothing but beef is fucking us. Actually, we are fucking ourselves on multiple levels and we need to make changes. Im going to go vegan because it takes 20 times less land to feed a vegan than a meat eater and over 90% of the land cleared in the amazon rainforest since 1970 is used for grazing livestock, but if all of us just stopped eating BEEF it would solve huge problems. Eat fish, eat chicken, eat pork until the next crisis but if all u can do now is quit beef, please do it. I know a lot of ass backwards people think vegetarianism or veganism is some uppity white girl thing to do but its not. There have been Asian Buddhist Vegetarians for thousands of years, Ital Rasta, Hindu as well, this is not some new age thing to laugh at. We are getting back to roots, healing the Earth, and ourselves. Ive eaten my last bite of meat. I wish I had planned this better and ate my moms ox tail soup but fuck it. There really isnt time to waste. Some things have to start today. I started to get these feelings shooting the last season of Huangs World and fasted for 5 days because my producer Davids mom said I looked sick. She was right. The 5 days not eating fundamentally changed me and I shot the second half of the season while intermittent fasting. Ive made a lot of food videos because I love food but more than anything because food was fertile ground for exploring difference, but I dont love what food tv and more importantly what food has become in our culture: a drug. I had a really rough 2018- early 2019, got high and just ate myself to sleep watching Harry Potter a lot lol but Im getting back on my shit. Take a moment, think about it, and reexamine your relationship with food because itll make the Earth and ourselves very very sick if we keep abusing it.

A post shared by Eddie Huang (@mreddiehuang) on Aug 23, 2019 at 5:44am PDT

Actually, we are f***ing ourselves on multiple levels and we need to make changes. Im going to go vegan because it takes 20 times less land to feed a vegan than a meat eater and over 90% of the land cleared in the Amazon rainforest since 1970 is used for grazing livestockIve eaten my last bite of meat.

I wish I had planned this better and ate my moms oxtail soup but f*** it. There really isnt time to wasteTake a moment reexamine your relationship with food because itll make the Earth and ourselves very very sick if we keep abusing it.

Read more: Zendaya and 16 Other Celebrities Who Dont Eat Meat

Excerpt from:

The Real Reason Chef and Author Eddie Huang Went Vegan, Plus Other Plant-Based Celebrities - Showbiz Cheat Sheet

Wendys restaurants in Canada have secretly launched a burger with a vegan meat patty.

Wendys hasnt publicly announced the burger and the dish is not yet on the fast-food chains website. But images of the new Plantiful Burger cropped up on outdoor advertisements in Toronto. The sign showed a meaty burger alongside the words: Wheres the beef? Not here.

The 100 percent plant-based patty is made with pea protein. Wendys staff told Compassion Over Killing a non-profit animal protection organization that the burger contains egg. Its not clear whether the egg is in the mayonnaise, which could be removed on request, or in the bun of the burger.

The low-key launch shortly follows comments made by Wendys CEO Todd Penegor earlier this year. During the companys 2019 second-quarter earnings call, Penegor was asked about the companys interest in plant-based protein.

Clearly there is growth out there in plant-based proteins and we believe that it is a trend that will be here to stay,the CEO said, adding that Wendys istaking a hard lookat what the options would be for us at the restaurant.

In August, a petition was created that encouraged Wendys to join 2019 and launch a vegan burger. The petition amassed nearly 30,000 signatures.

A plant-based burger would not only be better for animal welfare, the environment, and health, but also great for business at Wendys,the petition reads.Beyond Meat recently went public with investments and raised nearly a quarter of a billion dollars while also soaring 163% from their original IPO (the biggest increase for a US company since 2000).

The popularity of plant-based food is soaring in Canada and major food brands are eager to keep up. McDonalds just teamed up with Beyond Meat to bring plant-based meat to its Canada restaurants.

Carls Jr. Canada introduced the plant-based Beyond Burger earlier this year. The meat-free burger called the Beyond Famous Star features a char-broiled Beyond Burger patty, American cheese, mayonnaise, special sauce, lettuce, tomato, and dill pickles. Customers can order it without cheese or mayonnaise to make it vegan.

White Spot also added the Beyond Burger to its menu. The Vancouver-based restaurant chain added the option after serving up meat-centric food for 90 years.

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Article Name

Wendys Secretly Launched a Meaty Vegan Burger

Description

Wendy's restaurants in Canada have secretly launched a burger with a vegan meat patty. The new meat-free option is called the Plantiful Burger.

Author

Jemima Webber

Publisher Name

LIVEKINDLY

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Wendys Secretly Launched a Meaty Vegan Burger - LIVEKINDLY

By Oscar Simone

Santanas Vegan Grill is a fast food joint dishing out classic American fare in a drive-thru and casual dine-in setting. Its legitimate vegan junk food, and theres nothing tongue-in-cheek or ironic about it. Its greasy, cheesy, fried, decadent, and unabashedly unhealthy not your typical vegan spot.

Now, if youre like me and feed off aesthetics, Id stay outside and order from the drive-thru. Inside, the space isnt dirty or unwelcoming, its just soulless. Between the white board menu, blank walls, and lack of any character or branding, it feels like a stripped-down McDonalds thats just been made into a brand-new chain. But its not new and its not a chain. This is Santanas sole location, and theyve been here for nearly two years, with a one-year stint at a previous spot. Theyve had enough time (and success) to warrant a personality update, but everything remains disappointingly generic.

Yet when it comes to the food, that actually isnt such a terrible thing. The burgers come out swaddled in a red and white checkered wrapper, flanked by golden fries straight out of a McDonalds commercial. Its hilarious and also troubling how delicious those flying wax-covered burger replicas look on TV, but I cant deny that they get my mouth watering, and the Santanas burger really looks camera-ready.

I opted for the seasoned fries, not without some post-consumption regret. The seasoning is reminiscent of those Zapps Voodoo chips: smoky, a little spicy, and subtly tangy in a way that can only be attributed to citric acid. Its like they selected a bunch of flavor profiles that dont really mix and forced them together anyway. Im not mad at the seasoning, though I definitely dont love it. Regardless, the fries are salty and crispy and cooked to golden-brown perfection. I can confidently assume that the unseasoned fries kick ass.

My first bite into the deluxe cheeseburger takes me right back to middle school. Its McDonalds Monopoly season, and every day at 3:35 p.m. sharp, were running to those damn golden arches to grab $1 double cheeseburgers, tiny shiny tickets, and a quick peek into the perils of gambling. Everything north of the cheese and south of the patty on Santanas burger is pretty much identical to what youd find at a McDonalds. But the meat and cheese are right there, too.

Food tech has progressed a ton in recent years, and meatless products are becoming harder and harder to discern from real meat, but I think we can chalk up the accuracy of the burger to something else. The Beyond Meat patty on the Santanas burger doesnt have a ton of flavor, and while the texture is undeniably fleshy, it falls apart easily. The taste of the protein quickly falls to the backdrop of the sandwich, in the same way that one of those razor thin McDonalds patties does. Im not a huge fan, but if thats the burger Santanas is chasing, theyve got it.

If youre going to make the trip out to Santanas and, like me, arent really into that classic, painfully thin, saucy, fast food burger vibe, I would recommend opting for something different. With ooey gooey melted cheese, charred jalapenos, and a really good soy-based steak replacement, the steak and cheese is one to try. I wasnt able to get much information on what the steak replacement exactly was beyond soy, but the flavor was meaty and savory in a way that reminded me of seitan. But I wasnt there for the flavor, because the texture was off the chain. It was crispy on the outside and then tough and chewy on the inside, in the best way possible.

Internet critics have said things like I can cook up Beyond burgers at home or You know, you can buy those same chicken tenders at Target. But Santanas, like most other drive-thru spots, isnt in the business of offering customers food they cant replicate at home. It doesnt exist to tickle our most curious taste buds or introduce us to a new type of eating. Santanas Vegan Grill is here to serve the tried and true classics of affordable American fast food, minus the meat its as simple as that.

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The Vegan Kids Hijacked the Griddle - The Catalyst