Accessory maker Datel has had two attempts at making the ultimate Pokmon GO companion device: the Go-tcha and the Go-tcha Ranger. Both mimic the functionality of the Pokmon GO Plus (and the later Pokball Plus) but with one massive advantage they automate functions such as swiping nearby Pokstops and catching 'mon, so you don't have to interact with the device at all; it does all of the busy work for you.

We really like both of the previous Go-tcha devices, but with one huge caveat both of our review units completely failed after a few months (we actually had two of the original Go-tcha units die on us). Reliability is clearly a big problem with these devices, which makes reviewing the Go-tcha Evolve a little tricky; as much as we like it (and believe us, we do), we can't be entirely sure it will still be ticking over in six months. But for the time being, let's approach this latest accessory with a fairly open mind.

Like the original Go-tcha, the Go-tcha Evolve resembles a fitness tracker. It's a much larger unit than the original, but its design is arguably less obnoxious, so you don't need to feel self-conscious about wearing it in public (it's certainly a lot less obvious than the Pokmon GO Plus with its flashing multicolour LED). The strap is available in four colours Dynamic Grey, Trailblazer Blue, Globetrotter Green and Daredevil Red and is pretty comfortable. The main unit has a reasonably bright colour screen which displays information and cute little animations, and can be interacted with via a single touch-sensitive button.

Charging is handled by a full-size USB port which is accessed by removing the upper part of the strap. This is quite a tough process (so much so that the unit comes with an instruction sheet focused purely on how to charge the device) and it often feels like you're going to break something; Datel recommends that you remove it by pulling it at a 45-degree angle. This connection also means that the Go-tcha Evolve isn't water-resistant, so you'll want to make sure you remember to take it off before having a bath or shower. The unit takes about 1 and-a-half hours to fully charge, and a charge lasts a fair few days, depending on how much you use the device. For example, after a week of fairly casual use, our unit still has a single bar of battery remaining.

Tapping the single button on the front of the unit wakes it from sleep, and subsequent taps move you through the menu system one option at a time. You can choose to toggle things like auto-catching (of both known and unknown monsters you can choose to ignore ones you already have in your Pokdex) and auto-swiping of Pokstops, as well as vibration alerts. The unit will also show if your Go-tcha Evolve is currently connected to your phone, and you can choose to have it display the time and date when it wakes from sleep, instead of the standard startup animation. You can choose to turn off the automatic processes if you so wish, and manually tap the device to execute a catch or Pokstop swipe.

But that's not all! There's a pedometer that tracks how many steps you've taken, and it's pretty accurate from what we can ascertain it kept pace with our Apple Watch, at least. You can also choose to totally silence the device so no alerts come through, which is handy when you're in a quiet environment and don't want it constantly flashing and vibrating. Speaking of the latter, the motor inside the Go-tcha Evolve is a little bit feeble and unless you're standing totally still, you often can't feel when it's vibrating.

The Go-tcha Evolve is listed as being compatible with the iPhone 5s, iPhone 6, iPhone 6 Plus, iPhone 6S, iPhone 6S Plus, iPhone SE, iPhone 7, iPhone 7 Plus, iPhone 8, iPhone 8 Plus, iPhone X, iPhone XS, iPhone XS Max, iPhone XR devices with iOS 10.0 or later installed. We'd also assume that the latest iPhone 11 models are supported. On the Android side of things, the requirement is a device with 2 GB RAM or more, Bluetooth Smart (Bluetooth Ver. 4.0 or higher) capability, and Android 5.0 or higher. There's a dedicated app available for both iOS and Android which allows you to toggle various settings more easily, as well as download firmware updates for the device itself. To connect the Go-tcha Evolve to the app, you'll need to make sure it's not currently connected to Pokmon GO itself.

As you might expect, the Go-tcha Evolve behaves very much like a Pokmon GO Plus, albeit with the ability to automate functions. Pokmon GO sees the device as a Pokmon GO Plus, so there's no way that Niantic can 'disable' it from the app (it's worth stressing that this product is 100% unofficial and not sanctioned by Nintendo, The Pokmon Company or Niantic). However, it also means that the Go-tcha Evolve is subject to the same limitations as the Pokmon GO namely, it won't stay connected forever and often disconnects at seemingly random times. We assume this has much to do with how your phone handles RAM management (we were using an iPhone XR, which has a rather pathetic 3GB of memory), but it's hardly a deal-breaker; when it happens, you just open the app, tap the Pokmon GO Plus icon, wake the Go-tcha Evolve and the connection is re-established.

Right now, we can't fault the Go-tcha Evolve. It improves on the original model and the full-colour screen is a real bonus. It's slightly larger, but it's not what we'd call an ugly product so there's no real shame in being seen wearing it when you're out and about. Battery life is good, and the fact that it tracks your steps as well as helps your monster hunting makes it even more appealing (especially as the process of playing Pokmon GO is sure to boost your daily step count).

The real question is: how long will this thing last? Datel's track record in this regard leaves something to be desired, and while we can't say for sure that the Go-tcha Evolve will suffer the same fate as its flaky predecessors, we can only offer a cautious recommendation at present. We'll update this review if the situation changes over the next few months, but for the time being, this appears to be the dream device for dedicated Pokmon GO players.

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Hardware Review: Go-tcha Evolve - The Pokmon GO Plus Killer - Nintendo Life

NEW YORK--(BUSINESS WIRE)--The most beloved, wonder-filled science franchise in television history returns with a new, 13-episode, mind-blowing adventure when COSMOS: POSSIBLE WORLDS premieres March 9 on National Geographic. This out-of-this-world trip through space and time will transport viewers across 13.8 billion years of cosmic evolution and deep into the future.

The next chapter of COSMOS, announced in celebration of what would have been visionary Carl Sagans 85th birthday this Saturday, Nov. 9, continues the legacy of the groundbreaking series co-written with Ann Druyan and Steven Soter, which was broadcast to a global audience 40 years ago. COSMOS: POSSIBLE WORLDS airs on Nat Geo in 172 countries and 43 languages and on FOX this summer. The previous season was seen by over 135 million people worldwide.

This Emmy-winning, worldwide phenomenon is the brainchild of Emmy and Peabody Award winner Ann Druyan, creative director of NASAs legendary Voyager Interstellar Message, who serves as creator, executive producer, writer and director, and Emmy-winning and Academy Award-nominated executive producers Seth MacFarlane (The Orville, Family Guy), Brannon Braga (The Orville, Star Trek) and Jason Clark (The Orville, The Long Road Home).

Neil deGrasse Tyson, an astrophysicist with the American Museum of Natural History, host of the four-time Emmy-nominated StarTalk series and best-selling author (Death by Black Hole, Letters from an Astrophysicist), returns as host and series executive science editor. This season begins with him on the shores of the cosmic ocean as COSMOS enhanced and upgraded Ship of the Imagination and Cosmic Calendar return, taking viewers on a journey through time and spanning a stunning variety of worlds. Throughout these adventurous episodes, COSMOS: POSSIBLE WORLDS integrates one-of-a-kind VFX, animations, holograms and stylized reenactments to carry viewers to never-before-seen worlds and meet unsung superheroes who have made possible our understanding of lifes spectacular voyage from its origin at the bottom of the sea to its possible future on the exotic worlds of distant stars.

This third season of COSMOS: POSSIBLE WORLDS is our boldest yet, says Druyan. The Ship of the Imagination will carry us places we never dared to venture before: lost worlds and worlds to come, deep into the future and straight through that hole in the curtain masking other realities and all of it rigorously informed by science and made real by lavish VFX.

National Geographic is proud to be the worlds leading destination for viewers who are passionate about science and exploration, says Courteney Monroe, president of global television networks at National Geographic. Which is why were excited for the next chapter of the most-beloved and most-watched science show to date, COSMOS, to return to our air. COSMOS: POSSIBLE WORLDS takes complex themes from astrophysics, astronomy and anthropology and makes them accessible and entertaining for millions of people around the world to devour.

COSMOS: POSSIBLE WORLDS ventures to previously uncharted territories: starting back to the dawning of our universe, moving forward to the futuristic 2039 New York Worlds Fair and then far beyond into the distant future on other worlds. Visit an open house in the first apartment ever built and climb a 10,000-year-old stairway to the stars. Return to the foreboding Halls of Extinction, with living dioramas of the broken branches on the tree of life, and venture to the new, glorious Palace of Life, with its soaring towers filled with vibrant marine creatures. Stand beneath its Arch of Experience to know what its like to soar with the eagles or swim with the whales on their epic voyages.

Associated with the series are some of television and films most revered creatives across all crafts, including Emmy-nominated cinematographer Karl Walter Lindenlaub (Independence Day, Stargate); Academy Award-winning and Emmy-nominated costume designer Ruth E. Carter (Black Panther, Roots); Emmy-winning and Academy Award-nominated composer Alan Silvestri (The Avengers, Forrest Gump, Contact); visual effects supervisor Jeffrey A. Okun (Clash of the Titans, Blood Diamond); and supervising animation directors Lucas Gray (The Simpsons, Family Guy), Emmy-nominated Brent Woods (American Dad!, Family Guy) and Academy Award-nominated Duke Johnson (Anomalisa, Mary Shelleys Frankenhole).

Many celebrities compose the noteworthy corps of actors who lend their voices to COSMOS: POSSIBLE WORLDS. This season includes Academy Award-nominated and Emmy Award-winning actor Seth MacFarlane (The Orville, Family Guy) as President Truman; Emmy- and Golden Globe-nominated actor Sir Patrick Stewart (Star Trek, X-Men) as German, British-born astronomer William Herschel; Academy Award-nominated Viggo Mortensen (The Green Book, The Lord of the Rings) as Soviet plant geneticist Nikolai Vavilov; and Judd Hirsch (A Beautiful Mind, Independence Day) as Robert Oppenheimer, famously known as the Father of the Atomic Bomb. Sasha Sagan, Druyan and Sagans daughter, appears in a recurring live-action role as Sagans mother, Rachel Gruber Sagan.

In conjunction with the launch of the new season, National Geographic Books is publishing a companion book, Cosmos: Possible Worlds, by Druyan, the long-awaited follow-up to Sagans international bestseller, Cosmos.

COSMOS: POSSIBLE WORLDS is produced for National Geographic and FOX by Cosmos Studios, the company Ann Druyan co-founded in 2000, and Seth MacFarlanes Fuzzy Door. Druyan and Brannon Braga are the series writers and directors. Druyan, MacFarlane, Braga and Jason Clark executive produce. Kara Vallow (Family Guy, American Dad!) co-executive produces, and Joseph Micucci (Patriots Day, Ted 2) produces. For National Geographic, Kevin Mohs is executive producer and Geoff Daniels is EVP of global unscripted entertainment.

Like COSMOS: POSSIBLE WORLDS on Facebook at CosmosOnTV. Follow the series on Twitter @CosmosOnTV. See photos and videos on Instagram by following @CosmosOnTV.

About National Geographic

National Geographic Partners LLC (NGP), a joint venture between the National Geographic Society and Disney, is committed to bringing the world premium science, adventure and exploration content across an unrivaled portfolio of media assets. NGP combines the global National Geographic television channels (National Geographic Channel, Nat Geo WILD, Nat Geo MUNDO, Nat Geo PEOPLE) with National Geographics media and consumer-oriented assets, including National Geographic magazines; National Geographic studios; related digital and social media platforms; books; maps; childrens media; and ancillary activities that include travel, global experiences and events, archival sales, licensing and e-commerce businesses. Furthering knowledge and understanding of our world has been the core purpose of National Geographic for 131 years, and now we are committed to going deeper, pushing boundaries, going further for our consumers and reaching millions of people around the world in 172 countries and 43 languages every month as we do it. NGP returns 27 percent of our proceeds to the nonprofit National Geographic Society to fund work in the areas of science, exploration, conservation and education. For more information visit natgeotv.com or nationalgeographic.com, or find us on Facebook, Twitter, Instagram, YouTube, LinkedIn and Pinterest.

About Cosmos Studios

Co-founded in 2000 by CEO and visionary Ann Druyan, Ithaca, NY-based Cosmos Studios creates, produces, and distributes eye, brain, heart and soul-nourishing science-based entertainment in all media.

Cosmos Studios aims to tear down the walls that have excluded so many from the scientific enterprise. We work to demystify the language, values, and drama of science, to give everyone the power of its permanently revolutionary methodology.

Carl Sagan, and those privileged to work with him, demonstrated that there is a world-wide appetite for compelling entertainment that reflects our dawning awareness of cosmic evolution and our place in its great story. There is a planet-wide hunger for images and dreams that reflect our radically altered sense of who, where, and when we are where we might go, who we might become.

In collaboration with award-winning writers, artists, filmmakers, producers, researchers, engineers, educators, artists, and a growing list of partners across science, communications, and finance, we seek to touch audiences with the soaring spiritual high that comes from grasping science's central revelation- our oneness with the cosmos.

Come with us at http://www.cosmosstudios.com on Facebook at http://www.facebook.com/CosmosStudiosOfficial/ on Twitter at http://www.twitter.com/cosmosstudios on Instagram at http://www.instagram.com/cosmosstudiosofficial/

About Fuzzy Door

Led by writer, producer and director Seth MacFarlane and president Erica Huggins, Fuzzy Door is the production company behind many of todays most successful film and television projects. With potent irreverence, biting satire, rule-breaking humor, compelling social issues and engaging storytelling, it has created an enviable portfolio of award-winning properties. Currently, the company produces the Hulu space adventure series The Orville; the beloved and Emmy-winning animated comedy series Family Guy, which is currently celebrating its 20th anniversary; and the fan-favorite series American Dad!, now airing its 14th season. Fuzzy Door strategically built on the success of the 1980s Cosmos series by producing the award-winning Cosmos: A Spacetime Odyssey, which garnered 13 Emmy nominations and was seen by more than 135 million people worldwide, and is gearing up for the next installment, COSMOS: POSSIBLE WORLDS, set to air in 2020. On the film side, Fuzzy Door has created several commercially successful comedies, such as Ted, Ted 2 and A Million Ways to Die in the West, which have collectively grossed more than $800 million at the worldwide box office. The company is committed to weaving a socially conscious and intellectually curious thread through projects to bring fearless, innovative and bold stories to life, while maintaining its trademark sense of humor and wonder.

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COSMOS Returns! Season 3 of the Most Celebrated Science Show on the Planet to Premiere March 9, 2020, on National Geographic - Business Wire

A shift in cultural valuesled by new design ideas such as fluid layouts, sustainability and a form of minimalismis paving the way for a more dynamic and modern mode of Indian architecture.

From the marble-clad Lotus Temple in New Delhi and the energy-efficient Pearl Academy of Fashion in Jaipur, to the iconic House on Pali Hill in Mumbaimodern Indian architecture is a striking ode to the nations evolving diversity in cultural values and lifestyles.

An increasingly informed consumer has become an integral part of the fluid network of minds that execute the design process. This convergence of stakeholders influences important transformations in conception and process. As countless emerging trends reformat our relationship with space, there are three interlocking principles that frame this design era.

First, there is a deep emphasis on responsible design. Design that is not only socially and environmentally harmonious but also thoughtful of its place in a broader blueprint of urban planning.

Second, fluid spaces and open layouts take precedence; creating visually striking forms that are both intimate, accessible and fresh.

Third, a reignited experimentation of functionality that balances uniquely Indian, visually striking spaces.

Responsible design

Conscious creation is the call of the hour. The overlapping impact of a growing population, environmental concerns and social costs have driven industry-natives and consumers alike to rethink the far-reaching costs and benefits of development.

Contemporary constructions are conceived with the understanding that they are not isolated forms. Everything from their plumbing systems and electric framework affects their immediate landscape, neighbouring communities and larger urban ecosystem.

Innovations such as vertical gardens on skyscrapers, green office spaces and rainwater harvesting systems are an example of modern projects minimising their carbon footprints and delivering inventively human-centric spaces.

There is a large team of diverse experts involved in manifesting smart spaces. However, the exclusive talent of the architect and designer is their ability to influence behaviour.

A well-designed space encourages utilisation. Large windows in an alpine home, for example, swallow the areas short hours of sunlight. Warming the proximate rooms and lighting them efficiently through the day.

In a tropical landscape, south-facing balconiesoriented against direct sunlight with louvred fencing and a strategic water body accent naturally cool breezes channelled through the panelled frames.

Intuitively, residents maximise their use of these areas. Thereby, limiting the use of artificial temperature control or lighting.

Fluid spaces

In larger commercial developments or expansive residences, fluidity is the key to ensuring access and interaction. In a large development, closed spaces could provide seclusion at the risk of isolation.

Design plays a key role in office spaces where employees in one area form a collective core and rarely move to interact with their cross-departmental colleagues. Going beyond the barriers established by corporate infrastructure, conventional office spaces that are designed in bleached tones and arranged to reinforce hierarchies through corner offices or name plaques exude a sense of separation.

Similarly in historic palaces or mansions constructed to offer both protection and prestige to its owners, living quarters are not so much private as they are barricaded and fortressed.

As modern city dwellers, we crave a balance of serenity and human connection. Fluid spaces common to contemporary blueprints offer exactly that.

A kitchen with an island and floating appliances can open into the garden for outdoor dining. It can accommodate a bar area that connects with the living room or swimming pool. Suddenly, its no longer just a kitchen but a flowing space with the ability to seamlessly serve numerous occasions and functionsfrom formal dinners and large parties to quiet afternoons with the family.

Indian experimental

Every era of design seeks a fingerprint for itself. Experimentation is an instrument of this evolution. Modern Indian architecture, in recent years, reflects a poetic return to the use of locally sourced materials and Indian craftsmanship, both of which are dispensed in reimagined, contemporary formats.

Even as eclectic tastes evolve, functionality remains paramount. Neo-Indian consumers seek a uniquely defining aesthetic palette that is pragmatic enough to support our increasingly fluid, secular and fast-paced lives.

Architecturally, traditional Indian elements like open pavilions and hallways complement the rise of fluid layouts in contemporary forms. Supplementally, materials like red bricks and local stones create an earthen warmth by pulling the outdoors, indoors.

A host of established and emerging home decor studios have risen to cater to the growing demands of this niche and rapidly evolving genre: whether it be organic fabric with minimalist Rajasthani prints or recycled wood furniture hand-painted with traditional elements.

This trend, like most that seek a fusion of disparate styles, requires invention. A traditional fixture cannot arbitrarily be assembled into a contemporary home. Adjusting the elements, forms and spaces to fuse together is not only a rigorous feat for design but it demands cohesive ingenuity in engineering, landscaping, electrical wiring, plumbing and lighting.

Turnkey experimentation catalyses progressive design. We are not only forging an era-defining neo-Indian aesthete, but we are also collecting a canon of work that will be a reference point for socially and environmentally harmonious architecture that aids future generations. So for many years to come, culture will not only influence but also depend on the far-reaching advantages of inventive, functional and responsible design.

The author is a Delhi-based architect and founder of an eponymous studio that offers comprehensive design-and-build services

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We are at a new juncture in modern Indian architecture - The Sunday Guardian

Jogen Chowdhury at his exhibition at the Kolkata gallery. (Source: Emami Art, Kolkata Centre for Creativity)

The ongoing exhibition Reverie & Reality at Emami Art, Kolkata Centre for Creativity, brings together your work of over six decades. How do you look at the evolution? You had earlier mentioned how you would look at the larger picture but it seems that now details interest you more.It is interesting for me to look at so many years of my work. Every exhibition is of interest to the artist. In my career, I would have made over 2,000 works and this show brings together 125 from my personal collection, and 75 more. It is around 1/10th of what I might have done. The display includes life studies and portraits I made as a college student, that tell curious visitors how I started my work. The later works include oils, watercolours and, also, more intricate lines in my cross-hatchings that depicted intense expressions. I also started using more colour.

Do memories of your early childhood, from Faridpur in Bangladesh, colour your work?

We used to live in a village that had trees and temples all around. My father was a zamindar with a lot of land. There was a community hall, outside which the Durga Puja mandap would be set up. We would have community theatre performances, where the villagers would participate. During the festive season, I used to observe the kumbharas (artisans) create statues of Durga and Saraswati. I would pick up the natural colours left by artisans and paint with them. I was extremely influenced by the manner in which they depicted Durgas eyes. This influence reflects in my work as well. I often draw larger-than-life eyes of women.

During Partition, you were eight or nine years old. In what way did your trauma leave a lasting impact on your work?That was a hard time for us. Initially we stayed with my uncle. My father got a job but he was not interested, so the onus of looking after the family fell on my elder brother. The refugees played a major role in the Left movement at the time and my two elder brothers also joined the Communist party. I was not directly involved in politics and disagreed with some of their ideologies but the situation did make me socially and politically more conscious. I began reading a lot of magazines and writing poetry.

In the past, youve lamented how back then there was no formal teaching of art history. When did you join art college?I used to draw a lot. My father used to draw often and my mother did alpona (floor art) and was good at stitching. Perhaps, I got my artistic talent from them. My family was very supportive when I decided to pursue art. I did well in art college. Our college (Government College of Art & Craft, Kolkata) was established by the British and so was the academic course. There wasemphasis on technique, with still life, nature studies, portraits, life studies and realism. Our exposure to art history was through visiting lectures by historians and the likes of filmmaker Bimal Roy. There was a very good library that had journals with writings of the Tagores, Nandalal Bose and several art critics.

Several of your earlier works were dark. Is it true that you sold your first work for Rs 125?When I was in art school, it was all very realistic and academic. When I graduated from college, I started thinking about experimenting, how I should approach art in a way different from others. In those years, I was an art teacher in a school in Howrah. My art was rooted in the social situation. I started representing people around me. There was also satire in my work. I was still in college when a visiting foreigner purchased a street scene I painted. At my first solo at Academy of Fine Arts, Kolkata (in 1963), I sold only one work, forRs 125. The exhibition was visited by several of my friends, including (poet) Shakti Chattopadhyay, (artist) Gopal Ghose. We went to a cafeteria to celebrate. Earlier, when we made art, the idea was not to sell. We were doing artwork like a poet writes poetry.

For a long time after you returned to India from Paris where you went in the 1960s, on a scholarship, to the cole nationale suprieure des Beaux-Arts you did not produce much work.International exposure disturbed the continuation of the work that I had been doing. In Paris, I saw several works by artists who have contributed to the development of modern art, and I was left wondering what should I do. I could not do what people in Europe were doing; that was based on their ideas. I was restless and continued to make drawings that were expressive. Finally, when I returned, I joined the Handloom Board in Madras (now Chennai). I wrote around 100 pages to understand what I should do. These writings were later published. I developed my own visual language. I was looking at our own country, the society, poverty and illiteracy. All along, my main subjects have been the people.

In your work, you have also commented on the politics of the times. One of your seminal works, Tiger in Moonlit Night criticised the Emergency. At the same time, you admired Indira Gandhi.I was a curator at the Rashtrapati Bhavan when Emergency was declared, so I found myself in the middle of what was happening.Tiger in Moonlit Night showed a dead lady being attacked by a tiger in a moonlit sky. It depicted the fake emergency, and was an interplay between the real and the unreal. I admired Indira for several reasons, including her ability to take immediate decisions. She was in Santiniketan when Rabindranath Tagore was still there. During her time, art and culture were flourishing in India. Now, I dont think that is continuing.

How has it been to see politics more closely as a member of the Rajya Sabha? You have been sketching portraits of politicians in the House.When I entered Rajya Sabha, I found itinteresting to see several people whom I had only seen in newspapers till then. I started drawing portraits, and have completed almost 50 pages, with five-six people on each page. This includes portraits of politicians such asGhulam Nabi Azad, Manmohan Singh, Sushma Swaraj and Smriti Irani. I hope to bring out a book before my term ends in April. I was always socially conscious, so when I entered Rajya Sabha in 2014, I was able to follow what people were talking about but I felt that for several people, politics is a profession. Not everyone is thinking about the nation. Some of the good ideas are not understood by everyone. After my tenure ends, I will concentrate more on my art. I am hungry to work more. I am old now and whatever time is left, I want to spend working for the sake of art.

Youve been buying works by young artists. And, this year, you opened the Jogen Chowdhury Centre for Arts in Kolkata.

I began by buying works of my students when I was a teacher at Santiniketan, which I joined in 1987. That encouraged young students. Through the centre, I want to generate more interest in visual art and cultural activities; involve the people. It has space for residencies and showcases several of my own works from my personal collection.

This article appeared in the print edition with the headline All along, my main subjects have been the people

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An exhibition revisits six decades of artist Jogen Chowdhurys body of work - The Indian Express

by Pope Francis

Pope Francis Address to the International Federation of Catholic Universities

On November 4, 2019, Pope Francis received in audience in the Vatican the participants in the Conference of the International Federation of Catholic Universities (FIUC), taking place from 4 to 5 November 2019 in Rome, at the Augustinianum Congress Centre, on the theme: New frontiers for University Leaders: the Future of Health and the University Ecosystem.

Vatican, November 4, 2019

Distinguished Rectors and Professors,

I welcome you to this encounter on the occasion of the forum of the International Federation of Catholic Universities dedicated to the theme New Frontiers for University Leaders: The Future of Health and the University Ecosystem. I extend a cordial greeting to the President, Professor Isabel Capeloa Gil, [in Spanish] and I thank her for the courtesy of speaking in Castilian and to all present, and I am grateful to the Federation for their commitment to study and research.

The university system today faces new challenges arising from the development of the sciences, the evolution of new technologies and the needs of society, all of which invite academic institutions to provide appropriate and up-to-date responses. This real pressure, felt in different areas of socio-economic, political and cultural life, challenges the very vocation of the university. This is especially the case for lecturers in their task of teaching, and of conducting research and preparing new generations to become not only qualified professionals in various disciplines, but also proponents of the common good, creative and responsible leaders in social and civil life, with a proper vision of the person and the world. Universities today, then, need to consider what contribution they can and must make to the integral health of the person and to an inclusive ecology.

If these challenges concern the university system as a whole, Catholic universities should feel these needs even more acutely. With your universal openness (as in universitas), you can act in such a way that the Catholic university becomes a place where solutions for civil and cultural progress for individual persons and for humanity, marked by solidarity, are pursued with perseverance and professionalism. You can also examine that which is contingent without losing sight of what has a more general value. Old and new problems must be studied in their specificity and immediacy, but always within a personal and global perspective. Interdisciplinary approaches, international cooperation and sharing of resources are important elements, so that universality may be translated into shared and fruitful projects on behalf of all people in the context in which they live and grow.

The development of the technosciences, as we can already see, is destined increasingly to influence peoples physical and psychological health. This also affects the methods and processes of academic study. Today, therefore, we need to remember more than ever that every teaching entails asking ourselves about the why, that is, it requires a reflection on the foundations and purposes of every discipline. Education reduced to mere technical instruction or to mere information becomes a ruptured education. To believe that we can transmit knowledge by abstracting from its ethical dimension would be to abandon the task of teaching.

It is necessary to overcome the legacy of the Enlightenment. Educating, in general but in particular in universities, is not only a matter of filling the mind with concepts. The three languages are needed. It is necessary for the three languages to be brought into play: the language of the mind, the language of the heart and the language of the hands, so that one thinks in harmony with what one feels and does; one feels in harmony with what one thinks and does; and one acts in harmony with what one feels and thinks. A general harmony, not separated from the whole. In the first place, then, we must start from an idea of education conceived as a teleological process, that is, one which looks to the end, is necessarily oriented to an end, and therefore towards an accurate vision of the human person. A further perspective is necessary in the field of education in order to face the questions of why, questions, that is, of the ethical order. This involves the typically epistemological character of education which concerns the whole span of knowledge: not only the liberal arts, but also natural, scientific and technological studies. The link between knowledge and purpose refers to the theme of intentionality and to the role of the subject in every cognitive process. And we thus arrive at a new episteme: it is a challenge, to make a new episteme. Traditional epistemology had emphasized this role by considering the impersonal character of all knowledge as a condition of objectivity, an essential requirement for the universality and communicability of knowledge. Today, however, many authors stress that completely impersonal experiences do not exist: the forma mentis, the normative convictions, categories, creativity and existential experiences of the subject represent a tacit dimension of knowledge, one that is always present and is an indispensable factor for the acceptance of scientific progress. We cannot think of a new episteme from a laboratory, but from life, yes.

In this light, the university can be viewed as not only conscious, but also having an intellectual and moral energy whose responsibility goes beyond the person to be educated and extends to the needs of all humanity. The International Federation of Catholic Universities is called to take up the moral imperative of striving to achieve a more united international academic community. On the one hand by basing itself more faithfully on the Christian context from which universities originated; and on the other, by consolidating the network between older and newer universities, in order to develop a universal spirit aimed at increasing the quality of the cultural life of persons and of peoples. The ecosystem of universities develops when every member of the university, by focusing on the whole person, cultivates a particular awareness of the context in which people live and grow, and of all that contributes to their advancement.

The formation of leaders achieves its goal when it imbues the academic years with the aim of developing not only the mind but also the heart, the conscience, together with students practical abilities. Scientific and theoretical knowledge must be blended with the sensitivity of the scholar and researcher, so that the fruits of study are not acquired in a self-referential way, affirming only ones professional position, but have a relational and social purpose. Ultimately, just as every scientist and every person of culture has an obligation to greater service, because they possess greater knowledge, so too the university community, especially if it has a Christian inspiration, and the ecosystem of academic institutions must respond together to the same duty.

In this perspective, the path that the Church and Catholic academics must follow is succinctly expressed by the patron of the FIUC, the newly-canonized Cardinal John Henry Newman: The Church fears no knowledge, but she purifies all; she represses no element of our nature, but cultivates the whole[1]. Thank you.

Endnote

[1] The Idea of a University, Part 1, Discourse 9, 8.

Libreria Editrice Vaticana 2019

This item 12242 digitally provided courtesy of CatholicCulture.org

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Australian fashion label Tigerlily has wiped clean its entire social media after confirming it is moving in a totally new direction.

The brand, founded in 2000 by James Packers ex-wife and model Jodhi Meares, is largely known for its itsy-bitsy bikinis and beach-babe attire, but after 20 years, it has decided to shift focus starting with its Instagram page.

As of midnight on Friday, more than 4300 photos and video content was deleted off its official account leaving many of its strong following baffled by the stunt.

Tigerlily CEO Chris Buchanan revealed to news.com.au it is part of the companys new direction which will focus more on apparel and less on its iconic swimwear range.

The most common misconception is that we are a swimwear brand, but we have been about apparel for the past 20 years, Mr Buchanan said.

He said while they may be famous for swimwear, Tigerlily has always been a ready-to-wear fashion brand.

We will have much more of a focus on apparel given it accounts for 80 per cent of our sales, he said.

Speaking exclusively to news.com.au Mr Buchanan said the label will undergo a complete rebrand, launching a sophisticated yet playful Resort 20 campaign to celebrate its evolution.

This will also include moving away from its signature gold Tigerlily branding.

Speculation of a shift in focus sparked in May this year when the brand chose not to showcase its popular bikinis at Fashion Week in Sydney.

Instead, it focused firmly on apparel a bold comeback statement after having been absent from the runway for 17 years.

Mr Buchanan said it was a conscious decision to showcase a more elevated offering at the time and in part to dispel the common myth about the brand thats its just about swimwear.

He said it made sense to return to the Fashion Week runway on the eve of the brands 20th birthday, with 2019 also marking the second evolution of the iconic Aussie label.

Each collection we create is aspirational but accessible for women, who embrace curiosity for exploring the new things, Mr Buchanan said.

Tigerlily has also seen huge success in the international market from the UK, Middle East and the US.

And all that growth comes from the apparel business. After 20 years, we see it as the perfect opportunity to really crystallise and communicate our new brand purpose, Mr Buchanan told news.com.au

As we expand into new markets and grow with our consumer, comes a refreshed look and perspective for the brand.

After 12 months in the making, Mr Buchanan said the brand was now ready for its next adventure, disregarding the shift as a risky move.

We believe they (customers) will respond well, because our fans who have been shopping with us from the beginning already know what we are about a ready to wear brand.

This is going to bring together a cohesive message across all our touch points.

Since 9am on Friday, Mr Buchanan said Tigerlilys Instagram page has already increased to an extra 1000 followers.

About 50 to 100 people are dropping in every half an hour it has created incredible interest and shows people are very supportive of brands that want to evolve.

The world is constantly evolving, as is consumer taste and we need to evolve to remain relevant.

The official launch of the brands new-look will be unveiled on November 19, but fans will be treated to teasers on its social media, giving a sneak peak into what the labels future will hold.

In an era when experience matters most Tigerlily is for the adventurous at heart who seek fun, freedom and lives in the moment, Mr Buchanan said,

The brand, which offers four ready-to-wear collections and four holiday edits per year, operates 26 stand-alone retail boutiques in Australia.

It also continues to expand globally with Selfridges, ASOS and El Corte Ingles among its growing list of distributors.

HISTORY:

In 2009, former swimwear model and Tigerlily founder Jodhi Meares sold her popular brand to Gold Coast surfwear giant Billabong for an undisclosed amount.

Billabong then sold the business for a reported $60 million to Crescent Capital Partners in 2017 as part of its get back to basics plan.

Tigerlilys revenue was about $30 million in 2016 and was expected to contribute between $7 million and $8 million in FY17, according to the Gold Coast Bulletin.

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Tigerlily deletes Instagram in rebrand from swimwear to apparel range - NEWS.com.au

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

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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.

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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.

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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

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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