Goldman Sachs is making it easier to plug its services into other tech platforms like Amazon or Apple’s iPhone, and an industry consultant says it shows how the bank is leading a `fundamental change’ in retail banking.

  • Goldman Sachs is in talks with Amazon about providing small-business loans to merchants who sell products on Amazon’s retail platform, according to a person with knowledge of them. The talks were first reported by the Financial Times on Monday. 
  • The partnership would be the second inked by Goldman with a large technology firm that can provide the scale and distribution for Goldman’s products that it can’t get itself. 
  • The partnership, and another one with Apple, is an example of banking-as-a-service, though some insiders have taken to calling it Goldman Sachs-as-a-service. 
  • “If Goldman can pull off an embedded banking deal somewhere else besides Apple Pay … that’s a leading indicator of a fundamental change in retail banking,” according to independent consultant Richard Crone.

Goldman Sachs is close to inking a second high-profile deal to offer banking services in partnership with a large tech company, and it’s a sign of what may be a fundamental change in retail banking. 

Goldman is in talks with Amazon to offer small business loans to merchants who sell products on Amazon, according to a person with knowledge of the discussion. The Financial Times first reported the talks on Monday. Goldman’s small business loans may feature the bank’s name and begin as soon as March, the newspaper said. 

A spokesman for the bank declined to comment. 

If the deal is signed, it would become the second Big Tech partnership for Goldman Sachs after it launched a credit card last year with Apple last year. Goldman CEO David Solomon has called the Apple Card the most successful credit card launch of all time, without providing details to back up the claim. 

But it would also be a sign of something much more ambitious: Goldman Sachs moving quickly and aggressively to leverage those characteristics that make it uniquely a bank, with a license that allows it to offer banking products and a balance sheet where it can fund loans cheaply being just two prominent examples. 

The company has been sinking hundreds of millions of dollars into building out its technology capabilities, including APIs (application programming interfaces), to make it as easy and seamless to plug such services into the technology platforms of others, whether that’s Apple’s mobile devices, as with the Apple Card, or Amazon’s retail platform. 

At an investor day last week, execs referred to it as banking-as-a-service, but some insiders have taken to calling it Goldman Sachs-as-a-service. 

Stephanie Cohen, Goldman’s chief strategy officer, appeared on stage last week at the bank’s investor day alongside Marco Argenti, the co-chief information officer who recently joined the bank after several years as a senior exec at Amazon Web Services.

Cohen said the bank is looking for ways to use technology to embed the types of things that Goldman can do well, such as risk management, or loan underwriting.

Cohen cited the Apple Card, which is a Goldman-designed product delivered on Apple’s devices, as one such example. 

“That last capability is the consumer version of our platform strategy,” Cohen said. “It allows us to take products and services that we build for our own clients and then give it to other clients so that they can embed financial products into their ecosystem. This strategy will drive top-line growth, and it will create scale efficiencies.”

Goldman isn’t the only large bank that’s working with Big Tech companies. In November, Google announced a partnership with Citigroup to provide checking accounts to the tech firm’s customers. 

And yet, Goldman is probably doing it better than anyone because it has developed a suite of APIs that it can take off the shelf and plug into other platforms, according to Richard Crone, an independent consultant. 

“Goldman Sachs, when they write the history books, will be noted as the one who invented or perfected embedded banking, where you embed your financial services through the user interface, or at the edge, of someone else’s network,” Crone said. “If Goldman can get this right with Amazon, I would expect them to go to Facebook next or any other online platform of substance that provides them a large distribution channel.”

Goldman is leaning on many of the lessons it learned in its partnership with Apple, known as an incredibly demanding partner, Crone said. Most notably, the ability to offer instant issuance to a set of customers that have already been pre-validated, multi-factor authenticated, Know-Your-Customer credentialed by the large tech firms. 

“They already know the customer, but they have met the regulatory requirement in advance before they hand it over,” he said. 

The product will likely look similar to what small merchants are getting from Square Cash or PayPal Working Capital. 

Goldman has bigger ambitions. At last week’s investor day, the bank presented a slide that showed a product called Marcus Pay, which talked about point-of-sale solutions for merchants based on its digital consumer bank. 

This is just another example of how embedded banking is here to stay, which can be hard for a lot of bankers to understand because they want to service customers through their own app, Crone said.

But “no financial institution can reach the scale that’s required to compete electronically” with the large platforms if they only do it through their own app, he said.  

“If Goldman can pull off an embedded banking deal somewhere else besides Apple Pay, or if Citigroup can pull off Google Cache, that’s a leading indicator of a fundamental change in retail banking.”

See also: Goldman Sachs just unveiled hundreds of slides laying out the future of the company. Here are the 10 crucial slides that show how it plans to transform into a bank for everyone.

See also: Inside Goldman Sachs’ first investor day, where avocado toast and crab apples were served with tech talk, 3-year plans, and a surprising trading mea culpa

NOW WATCH: WeWork went from a $47 billion valuation to a failed IPO. Here’s how the company makes money.

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Nats double down on commitment to coal, Joyce rants against wind and solar | RenewEconomy

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If there were any questions over the National Party’s commitment to the coal sector after the loss of Matt Canavan from the resources portfolio, they were quickly answered by new deputy leader David Littleproud who reasserted his party’s commitment to a new coal generator in Queensland on his first day in the job.

In an interview with ABC’s RN Breakfast program on Wednesday, Littleproud trotted out the three consistent assertions of the coal lobby; that you can reduce emissions using more coal, that more coal generation is necessary to lower electricity prices and that baseload power is a necessary feature of the future energy system.

Each of these three assertions have been repeatedly debunked, but it confirms that it’s business as usual in a Morrison cabinet that will continue to face internal divisions over a need to act on climate change and the fossil fuel advocates within its ranks.

It is understood that Queensland Nationals MP Keith Pitt is the front runner to take over Canavan’s former positions as the minister for resources and Northern Australia when new ministerial appointments are announced by Prime Minister Scott Morrison on Thursday.

Pitt himself has been an outspoken advocate for a new coal-fired power station in Queensland, so while Canavan – who liked to describe himself as “Mr Coal” – has exited the federal cabinet, the pressure to push forward with the Collinsville project is likely to continue.

Pitt has also been a strong supporter of a nuclear industry in Australia, and will have the backing of failed Nationals leadership candidate Barnaby Joyce, who again argued for nuclear power to be considered as part of Australia’s efforts to reduce emissions as part of a bizarre Facebook rant against renewable energy.

“We have to recognise that the public acceptance of wind towers on the hill in front of their veranda is gone, and the public dissonance on that issue is as strong as any other environmental subject,” Joyce said.

“If zero emissions are the goal then surely nuclear energy should be supported, but it is not. If wind towers are a moral good and environmentally inoffensive, why can’t we have them just off the beach at Bondi so we can feel good about ourselves while going for a surf? It would cause a riot.”

“Do you want a 3,000ha solar farm next door to you? Lots of glass and aluminium neatly in rows pointing at the sun. I am not sure others will want to buy that view off you when you go to sell your house.”

The coal industry might have lost its most enthusiastic advocate from the federal cabinet, but the Nationals were quick to show that it won’t lead to any changes on the party’s energy and climate change policies.

In his interview, Littleproud, who is also tipped to take on the now vacant agriculture portfolio, told the ABC that investments in new coal generators would help lower emissions and lower electricity prices.

“You need to make sure that you create an environment in the marketplace with a mix of renewables and coal-fired power stations, and if you can improve the emissions of coal fired power stations, you should make that investment if it means that we hit our targets and we reduce energy prices,” Littleproud claimed.

It has been well established for some time that the cheapest source of new electricity generation capacity are renewable sources like wind and solar.

A recent update to the CSIRO’s GenCost assessment of the costs of different generation technologies re-confirmed that new wind and solar are, by far, the cheapest sources of electricity generation. Even when additional storage is accounted for, prices of firmed renewables are competitive with fossil fuel generators when the costs of carbon emissions are considered.

Renewables are already helping to drive down electricity prices.

This week, the ACT, which has recently achieved its 100 per cent renewable electricity target, is also set to see an almost 7 per cent fall in its electricity prices this year, as the territory’s investments in wind and solar projects have helped deliver lower electricity prices for Canberra households, ensuring they continue to pay some of Australia’s lowest electricity prices.

But this also didn’t stop Littleproud asserting that it is possible to achieve reductions in greenhouse gas emissions while still embracing coal.

“You can invest in clean coal technology in and reduce emissions,” Littleproud said.

“I’m not disputing the science, what I’m saying is I’m not gifted academically to have that science background myself.” – @D_LittleproudMP when asked about his recent statement that he didn’t know if climate change was man made. #abc730 @leighsales #auspol pic.twitter.com/sFh44eNP2a

— abc730 (@abc730) February 4, 2020

Again, there are fundamental limits to how much emissions from coal-fired power stations can be improved. Even with a complete transition to the Coalition’s favoured high-efficiency low-emissions (HELE) coal power station technologies, the most generous estimates put the amount of emissions reductions at 20 per cent.

In his review of the National Electricity Market, chief scientist Dr Alan Finkel compared the emissions intensity of different generation technologies, showing that the HELE coal-fired power stations promoted by the Nationals will still produce 0.7 tonnes of carbon dioxide equivalent for each megawatt-hour of electricity produced, and is only slightly below the NEM’s current average emissions intensity.

When the science, and the international commitments made under the Paris Agreement, are calling for governments to achieve zero net emissions by 2050, a 20 per cent cut in coal power station emissions is going to be grossly insufficient.

It’s a position that leaves the Nationals at odds with science, but also the business community which is undergoing an accelerating exit from the coal industry. This includes BlackRock, which manages USD$7 trillion (A$10.15 trillion) in investments, which announced in January that it was divesting its portfolios from thermal coal companies.

Littleproud argued for the need for “baseload” power, suggesting that coal-fired power stations are necessary, as Australia currently lacks sufficient levels of battery storage.

“We’ve still got to have baseload, the thing is that we don’t have battery storage to the capacity that we need to be able to keep the lights on,” Littleproud said.

With the emergence of new energy management technologies, a growing market for energy storage that is outpacing growth in coal generation in Australia, demand response platforms and the falling prices of renewables, the concept of baseload is quickly becoming outdated.

With system planners recognising the crucial role that a ‘flexible’ energy system will have into the future, pushing new inflexible baseload power stations, like a new coal generator, into the energy system will only be counterproductive.

Chair of the Energy Security Board, which has been tasked with redesigning Australia’s energy market in response to the widescale transformation underway in the energy sector, labelled Australia’s existing “baseload” generators as “dinosaurs”, singling out coal-fired generators Bayswater and Liddell saying that their inflexibility made them poorly suited to a future energy system.

There has been a surge of installations of large-scale battery storage systems, and new investments continue to be made in deploying storage projects, while coal-fired generators are readying to exit the market.

The renewed push from the Nationals for a new coal generator appears to have been bolstered by the findings of a $10 million feasibility study into a potential new coal-fired power station in Collinsville. The feasibility study was funded as part of the government’s Underwriting New Generation Investments initiative and has yet to be released publicly.

“Collinsville, there’s a there’s now a report that’s come back to say that that business case should advance and then obviously, that will be backed by the economics of it,” Littleproud told ABC’s RN Breakfast.

The saga of the Collinsville power station has been a source of tension within the Coalition party room. Outgoing resources minister Matt Canavan had been desperate to get the project off the ground, and confronted prime minister Scott Morrison when he thought progress on the proposal was progressing too slowly.

Those tensions continue to play out in the party room, with a fiery confrontation occurring during the first coalition party room meeting of the year, and after a summer dominated by bushfires and calls for stronger climate action.

Several Nationals members shouted down calls from moderate Liberal MPs, who called for the Morrison government to demonstrate that it was taking climate change seriously.

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President Mnangagwa & General Chiwenga fight gets serious, Chris Mutsvangwa attacks Chiwenga (PIC) | My Zimbabwe News

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President Emmerson Mnangagwa’s ally Chris Mutsvangwa ranted against Vice President Constantino Chiwenga in a chance encounter with the MDC leader, Nelson Chamisa, ZimLive can reveal.

The shock development comes as the Zanu PF Youth League has recently become vocal against “cartels”, seen as a precursor to an all-out war with Chiwenga by first targeting his financial backer, Kudakwashe Tagwirei, an influential player in the petroleum industry.

Chamisa was at the Robert Mugabe International Airport on January 29 ahead of a trip to South Africa when he came across the chairman of the Zimbabwe National Liberation War Veterans Association who was also at the airport on undisclosed business.

Two sources who witnessed the encounter said Mutsvangwa initially requested a photo to be taken with Chamisa, before launching into an unrestrained attack on Chiwenga, Mnangagwa’s ambitious deputy.

“He told Chamisa to disengage from Chiwenga, stating that the former army general was claiming influence that he did not have, both in the military and Zanu PF,” one source said.

Chamisa reportedly expressed surprise that Mutsvangwa was associating him with Chiwenga, remarking: “You are donating me to Chiwenga, and Chiwenga donates me to you. Which is which?”

Mutsvangwa did not care who was listening, another source who witnessed the encounter said. The war vets chief, said the source, appeared convinced that Chamisa was open to a political alliance with Chiwenga.

“He was particularly dismissive of Chiwenga, questioning his fitness for higher office,” the source, who had just walked over to greet Chamisa, told ZimLive.

Referring to Chiwenga’s nasty divorce from his former model wife, Marry Mubaiwa, Mutsvangwa told Chamisa: “Don’t be fooled by a man who has a pr0stitute running rings around him.”

Chamisa reportedly asked “who’s the pr0stitute, and who’s the man?” before the two men separated, both laughing.

The encounter reveals deepening divisions in Zanu PF, with two distinct factions – one led by Mnangagwa and the other by General Chiwenga – each seeking to take decisive control of the party before the next elections in 2023.

Chiwenga was the army general who led a coup against the former late president Robert Mugabe in November 2017. He recalled Mnangagwa, Mugabe’s former deputy, from exile to make him president in a bid to sanitise the coup.

But the two men have differed sharply after Mnangagwa claimed victory in a presidential election in August 2018 by just over 35,000 votes. Chiwenga’s camp says the 76-year-old Zanu PF leader is unelectable and has failed to effectively run the country, imperilling their project with the lurking dangers of a popular uprising or annihilation in a future election.

Mnangagwa, through his son Emmerson Junior, has reportedly engaged the Zanu PF Youth League to push back against Chiwenga.

Youth League deputy secretary Lewis Matutu and Godfrey Tsenengamu, the political commissar, have taken to social media to launch thinly-veiled attacks on Sakunda Holdings boss, Tagwirei, believed to be Chiwenga’s moneyman.

Tagwirei, the local partner of global commodities trader, Trafigura, is accused of running a near monopoly in the petroleum industry and fleecing the state through the opaque Command Agriculture scheme run by Sakunda.

A parliamentary committee says agriculture ministry officials have failed to account for US$3 billion expenditure on the scheme, and Tagwirei has refused to testify before parliament.

Writing on Facebook on January 29, Matutu said: “How can a few individuals prosper on majority’s tears?”

Avoiding naming Tagwirei, he added in another post on January 31: “We will be judged by our deeds as a generation. Personally, l refuse to be amongst the cursed ones simply because l would have ignored evil things happening whilst watching and right now l have an opportunity to make things right #cartelsmustfall.”

Tsenengamu, also taking to Facebook, said: “We will pay the price, either for fighting the blood-sucking cartels or for smiling at them while they suffocate us. I choose to fight.”

Tsenengamu said Zimbabwe was being destroyed “not by those few who do evil, but by those who watch them without doing something positive.”

“Monday is the day #CartelsMustFall,” he wrote on January 31, hinting strongly that the Youth League would pursue some action soon.

Zanu PF sources told ZimLive that Matutu was also personally angry after recently going to the party’s secretary for administration, Obert Mpofu, to demand that he be issued a Toyota Land Cruiser “like all other politburo secretaries”, and being rebuffed.

All Zanu PF secretaries in the politburo had Land Cruisers purchased for them by Tagwirei, and if Matutu had been granted his wish, the party would have turned to the Sakunda boss who has used his vast fortune to buy influence.

The convergence between Matutu and Tsenengamu has surprised some, who say the two men have rarely been aligned.

“It shouldn’t surprise anyone, however, because Tsenengamu will do anything for money or a voucher. He’s shamelessly unscrupulous. For a thousand dollars, he would slap the president, he’s that sort of guy,” a member of the Youth League said.

Mnangagwa’s son, Emmerson Junior, is reportedly pulling the financial strings on the Youth League to do his father’s bidding.

Mnangagwa has identified Tagwirei – whose accounts were temporarily frozen by the Reserve Bank last year over allegations that he was manipulating the local currency – as the power behind Chiwenga, and hopes by targeting him, he would leave his 63-year-old deputy financially weaker and unable to mount any challenge to his rule.

The Zanu PF leader has, since taking power in 2017, been reorganising the military top brass and retiring other senior officers in moves aimed at diminishing Chiwenga’s influence.

The Zimbabwe Independent reported on Friday that “an unsettled Mnangagwa” had made moves to “coup-proof” his regime by changing the commanders of the Presidential Guard, the infantry battalion which, together with the Mechanised Brigade, played a critical role in the 2017 military coup that toppled Mugabe.

The Presidential Guard, responsible for providing protection to the president and securing Harare, is a specialised force trained to fight in built up areas. It consists of two battalions, the 1 PG Battalion commonly known as State House Battalion, and the 2 PG Battalion situated in Dzivaresekwa.

Mnangagwa has named Lieutenant-Colonel Alison Chicha as the commander of 2 PG Battalion, replacing Lieutenant-Colonel Regis Mangezi, who moves over to command the 1 PG Battalion. Mangezi takes over from Lieutenant-Colonel Solomon Murombo, removed from the unit after he clashed with Mnangagwa’s wife – an incident caught on a leaked audio tape.

Mnangagwa’s wife, Auxillia, accused Murombo of spying on her and plotting to kill the president. Her outburst betrayed the first family’s fears and concerns about their security. Murombo has been shunted off to Zimbabwe Defence House, the military headquarters.

— ZimLive

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In the ground and off the page: why we’re banning ads from fossil fuels extractors | Membership | The Guardian

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In a bid to reduce our carbon footprint, confront greenwashing and increase our focus on the climate crisis, the Guardian this week announced it will no longer run ads from fossil fuel extractors alongside any of its content in print or online. The move will come into immediate effect, and follows the announcement in October last year that we intend to reduce our net emissions to zero by 2030.

Once upon a time, a newspaper was a rather straightforward business. You generated enough material of interest to attract a significant number of readers. You then ‘sold’ those readers to advertisers happy to pay to get their ideas, products or brands in front of consumers with cash to spend.

Of course, digital disruption over the past 20 years has upended that model, but advertising remains an important part of the media business ecosystem. At the Guardian, it is still responsible for about two-fifths of our income.

But what happens when the readers don’t like the adverts? What do you do when the message that advertisers want to spread jars awkwardly with the work your journalists are doing?

What if your journalists are some of the best in the world at revealing and investigating the deepening climate catastrophe and the disaster that is fossil fuel growth, while some of your advertisers are the very people digging the stuff out of the ground?

This contradiction has bothered us – and some of you – for some time. We came up with a rather bold answer this week: turn away the money and double down on the journalism.

“It’s something we thought about for a long time,” says Anna Bateson, the interim chief executive officer of Guardian Media Group, the Guardian’s parent company. “We always felt it was in line with our editorial values but were cautious for commercial reasons.”

She said it was the logical next step after the Guardian committed last year to becoming carbon neutral by 2030 and was certified as a B Corp – a company that puts purpose before profit. But she added that the move had to be weighed carefully, given the fact that the Guardian only recently returned to breakeven after years in the red.

“You have to be careful you are not making cavalier decisions,” she said. “ We are still having to fight for our financial future. But because of the support we get from our readers, it is less of a risk.”

On the advertising side of our business, Adam Foley said there were no complaints at all that potential customers were suddenly off-limits, adding that staff felt that “being part of a company that shares their values” was the biggest motivation for his teams.

“A statement like this reaffirms to all of us that we’re contributing to a business that really lives those values – to the extent where it is prepared to sacrifice profit for purpose.”

The response from the wider world has been a pleasant surprise. Hundreds of you have written in, pledging your support, and in some cases, one-off contributions to start making up the shortfall. (EDS: See below – I’m going to append the best responses below. In print you can use as the panel)

The environmental movement was instantly appreciative, with activists quickly urging our peers to follow suit. “The Guardian will no longer accept advertising from oil and gas companies,” Greta Thunberg tweeted. “A good start, who will take this further?” Greenpeace called it “a huge moment in the battle against oil and gas for all of us.”

Some readers have been calling for the Guardian to go the whole hog and forsake advertising from any company with a substantial carbon footprint. Bateson said that was not realistic, adding that such a move would result in less money for journalism. She said the fossil fuel extractors were specifically targeted because of their efforts to skew the climate change debate through their lobbying effort.

“We are committed to advertising,” she said. “It will continue to be part of our future. We want advertisers who want to be appear alongside our high quality journalism.”

And how will we know if this has worked?
“We will listen to our readers, we will listen to our advertisers. The response so far has been gratifying. If we continue to hear positive noises from our readers and supporters, then it will have been a success.”




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Responses from our supporters

That is such a brilliant decision and it will be tough, but it is the correct one and I am very proud of The Guardian. Barbara Syer

Following the Guardian’s decision to ban ads from fossil fuel companies I’m making a monthly contribution to support its fearless journalism: reader support is essential for independent scrutiny of the powerful in business, finance and politics. Titus Alexander, Hertfordshire, England

I live at present in Canada, home to the Alberta Tar Sands: another name for ecological devastation resulting from fossil fuel extraction. I fully support The Guardian’s action in ceasing to be a vehicle for advertising by fossil fuel extractive companies, and I’m proud to be a supporter. My monthly donation is small, but when I can I will make it much greater. Rosemary Delnavine, Canada

Congratulations. At this time it may be a bold step, indeed, within this industry, but true leaders have to take bold steps for the betterment of the quality of life, and more importantly for the life of future generations. I applaud this decision, and will spread the word. Raphael Sulkovitz, Boston MA

What a bravery! This is what the life on earth needs, thank you. Karri Kuikka, Finland (EDS: please leave her wonderful Finglish intact!)

Keep it up. Here in Canada, we’re still trying to have it both ways — sell the product internationally but discourage buying domestically. As I recall, it was the same with tobacco. Eventually, it took a change in public opinion to solve the problem. As a news source, your efforts are part of this solution. Robert Shotton, Ottawa

I applaud your decision to”walk the talk.” I will therefore continue to contribute to The Guardian. Bob Wagenseil

Bravo yr decision to eschew $ from the FFI. Please do continue to hold to the fire(s) the feet of the deniers and the willfully ignorant. Sydney Alonso, Vermont, US

I am very happy to hear that good news. It’s quite courageous on your part, and I’m happy to support you! Have a great year ahead, you’ll have my continuous support! Julien Psomas

I completely support your plan to refuse ads from fossils, despite the
financial hit to the Guardian. I have made a donation to help out. David Thompson

A very commendable decision, very much in keeping with the Guardian’s position as leader of green issues to leave a better planet for following generations. Richard Vernon, Oxford

Yay! I’m so proud of the Guardian! We can no longer support or fund in any manner the fossil fuel industry if we have any chance of survival as a civilization on this planet. You’ve taken a courageous and moral step that will hopefully embolden others to join you. Good on you! Best, Carol Ross, Missouri, US

Good decision. I’ll support you as much as I can, which unfortunately is not much as I live on age pension only. Keep up the good work, we need it desperately! Ursula Brandt, South Australia

I am absolutely delighted by this decision. So many people pledge to do something about Climate Change, but few actually are willing to get uncomfortable and DO it. I am very proud of you as my favourite source of Information and this only makes a case for me to donate next time to you again. Christiane Gross

It was great reading what The Guardian is doing re the climate. As a Guardian on-line reader from The Netherlands I’m going to contribute monthly now instead of ‘now and again’. The amount will be relatively small as I do not have a great income. I really hope more of your supporters will do so, because it is really great what you are doing.
With kind regards, Aleida Oostendorp, Netherlands

I congratulate you and your team on taking this step regarding fossil fuel companies. The Guardian’s stance on the environment and its excellent coverage of related stories and events is the major reason for my support. Well done, and good luck in the future. Deirdre Moore

Love your new policy about accepting money from fossil fuels. Will contribute more to help make up for the shortfall. Todd Misk

I live on a fixed income with a strict budget so my continuing support of your excellent news organisation represents my commitment to the fight to address climate change. Every step counts. Barbara Hirsch, Texas, US

Only when we speak truth to power can change take place. thank yo for your courageous and expensive decision. Nancy Shepherd, Vermont, US

Love your journalism, especially your investigative work and the climate change topic. And with the bold statement about not receiving any more sponsorship from the fossil extracting companies? Well, the already great newspapers became even more impressive now. Keep up the good work. Miroslav Řezníček, Czech Republic

Thank you for taking the bold step of refusing advertising from fossil fuel extractive companies. I think it is the right thing to do & hope many more companies do the same. We must all work together if we want to save our planet. It is one of the most important issues of our times. Ginger Comstock, New York, US

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Drugs, death and stock trading – what became of the Goonies child stars | Buzz.ie

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Produced by Steven Spielberg, and directed by Richard Donner, The Goonies has become a Sunday afternoon TV classic – but 35 years on, what has become of its amazing cast?

Child stars may seem to have it all but the pressures – and dangerous opportunities – of fame can be a toxic mix when you’re at an impressionable age.

Adventure comedy classic The Goonies was released in 1985, and the past 35 years have been something of a rollercoaster ride for its young stars Sean Astin, Josh Brolin, Corey Feldman, Jeff Cohen, Jonathan Ke Quan, Kerri Green and Martha Plimpton.

And let’s not forget John Matuszak’s memorable turn as Sloth

Some Goonies alumni have managed to maintain steady showbiz careers, some have tasted the dark side of fame, and a few have turned their backs on show business altogether.

24 Martha Plimpton today is barely recognisable as the young girl who lost her glasses in the secret cave (Image: Dave Benett/Getty Images)

Sean Astin (Mikey)

Sean is a Hollywood baby, son of Valley of the Dolls star Patty Duke and adoptive son of her husband – Addams Family star John Astin.

The Goonies was Sean’s first film, and after that, he went on to appear in a string of movies, including War of the Roses, Memphis Belle and Toy Soldiers.

Abuse Sean Astin is still acting today (Image: Warner Bros.)

He achieved new levels of fame when he played Sam in Peter Jackson’s Lord of the Rings Trilogy forming a lasting bond with co-stars Elijah Wood and Billy Boyd.

Since Lord of the Rings, Sean’s main success has been in TV. He’s added a second string to his acting bow with a number of high-profile voice acting rifles in animated series as well as showing up in Stranger Things, Supergirl, 24 and The Big Bang Theory.

act Sean’s best known for his work in the Lord of the Rings saga (Image: FilmMagic)

Sean’s personal life seems to have been relatively trouble-free. he married former beauty queen Christine Harrell in 1992, taking her Lutheran Christian faith in 2013, and they have three daughters together.

While younger readers may have no idea what The Goonies even was, they’ll know Sean as the voice of Reginald from Minecraft.

Martha Plimpton (Stef)

Martha is another Goonies star who just kept going. As well as starring in hit US sitcom raising Hope she’s appeared in everything from The Good Wife to Frozen II.

She’s had her greatest successes on stage though, receiving three consecutive Tony Award nominations and starring in innumerable Broadway hits.

Like Goonies co-star Sean Astin, Martha also pops up as a character voice in Minecraft.

actor These days, Martha focuses on stage work (Image: Warner Bros)

Corey Feldman (Mouth)

Corey Feldman became an Eighties icon. Alongside his showbiz mate Corey Haim, he appeared in cult vampire movie The Lost Boys as well as its belated sequel The Tribe.

The pair also appeared together in a fictionalised reality show – The Two Coreys – where the pair pursued an Odd Couple relationship with Feldman coming across as relatively clean-living and Haim playing the slob.

age Corey Feldman struggled to cope with the pressures of child stardom (Image: Warner Bros)

Haim’s hedonistic lifestyle caught up with him in 2010 when he died aged just 38. Feldman too has had problems with booze and drugs. By the time he was 19, he’d been arrested three times for heroin.

Feldman has hinted, more than once that the reason he and Haim were driven to drink and drugs was a secret subculture of abuse in Hollywood.

All Corey says that dark forces in Hollywood are out to get him after he spoke out about a paedophile ring (Image: Getty Images)

In 2013, he told US TV’s The View (their equivalent of Loose Women) that a massive organised paedophile ring wielded massive power in the entertainment industry.

Feldman was also a close friend of Michael Jackson, who invited him to his Neverland estate and showered him with expensive gifts. But, he insists, the disgraced star never approached him sexually.

Josh Brolin (Brandon)

amazing Josh is the son of James Brolin, star of the original Westworld (Image: Warner Bros)

A Hollywood wild child, Josh Brolin ran with a rough crowd in his youth. He stole cars to pay for drugs, and had a flirtation with heroin.

He said: “I mean, I never got into it and I never died from it, which is a good thing. I’ve had 19 friends who died. Most of those guys I grew up with, they’re all dead now.”

avengers Josh Brolin grew up with a movie star dad, but had a troubled childhood before finding his feet as an actor (Image: Getty Images)

Brolin survived and went on to have a long and successful career in movies. Debuting in The Goonies he has appeared in No Country For Old Men, Sicario, Deadpool 2 and as Thanos in the massively successful Avengers series of films.

He also has a sideline trading in stocks and shares, and even considered giving up movies for the stock market at one point

Jonathan Ke Quan (Data)

Jonathan was already famous when The Goonies opened, having played Indiana Jones’s sidekick Short Round in the Temple of Doom.

While he continued to act for a while after Goonies, he increasingly used his martial arts knowledge to pick up work as a fight choreographer.

baby Jonathan was the highest-profile member of the Goonies gang when the film opened (Image: Warner Bros)

Kerri Green (Andy)

Kerri, like many of the Goonies stars, made her debut in Steven Spielberg’s treasure-hunting comedy thriller.

But, unlike some of her co-stars, she struggled to sustain her early success. She earned good reviews for her role in romcom Lucas, where she played opposite Cory Feldman’s partner in crime Corey Haim, but after that, the big roles dried up.

Beauty Kerri spends her time writing and directing these days (Image: Warner Bros)

She made a few appearances on TV shows such as Murder, She Wrote and ER, but hasn’t done much acting since the 1990s.

Kerri spends her time behind the camera these days, with her own production company and a series of writing and directing credits.

Jeff Cohen (Chunk)

Jeff was suffering from chickenpox when filing on The Goonies started but kept quiet about it to avoid being dropped from the production.

broadway Jeff worked hard to slim down after The Goonies (Image: Warner Bros)

After the film wrapped, Jeff got heavily into college football in a bid to shed some of Chunk’s weight. He made a few more movies but then, according to a 2014 profile, “puberty hit and forced Cohen into early retirement.”

He moved from acting to entertainment law. Partly, he says, “because I get to go to the parties but I don’t have to audition.”

business Today, Jeff is a hugely successful media lawyer (Image: Getty Images)

John Matuszak (Sloth)

Older than most of the other Goonies stars, Matuszak was already an established American Football player when the call came to play disfigured misfit Sloth in The Goonies.

camera John Matuszak (Sloth) Older than most of the other Goonies stars, Matuszak was already an established American Football player when the call came to play disfigured misfit Sloth in The Goonies.

The makeup, which took five hours to apply every day, disguised his appearance but Matuszak’s own face appeared in countless TV shows such as M*A*S*H, The Dukes of Hazzard, The A-Team and Miami Vice.

Tragically, Matuszak died young – succumbing to a mix of opioids and cocaine in 1989. He was 38.


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Nollywood Actor, Ernest Asuzu Confirms Begging On The Street, Speaks On Why He Did It (Video)

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Ernest Asuzu

Nollywood actor, Ernest Asuzu has confirmed taking to the street to beg for alms following a video which went viral after he was spotted begging on the street of Lagos.

Speaking in a new video, the talented actor further revealed that he deliberately went shirtless in the now-viral video so as to gather sympathy from viewers and also send a strong message to his colleagues in the industry.

Read Also: Daddy Freeze Reacts After Actor Ernest Asuzu Was Seen Begging In Lagos

The former star actor is currently battling stroke and needs financial help for his medical bills.

Watch the video below:

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Why I went shirtless to beg for help — Actor Ernest Asuzu Popular actor, Ernest Asuzu, who’s currently making headlines after a video where he went shirtless to beg for help on the streets of Lagos surfaced online, has come out to defend his action. _ The actor, who starred alongside Jim Iyke, in some Nollywood movies, said he went shirtless not because he was mentally derailed, but because he needed help for his medical condition. _ In a new video clip, Asuzu said he deliberately removed his shirt so that Nollywood practitioners would feel his pain. He also solicited financial assistance from well-meaning Nigerians to enable him to take care of his medical bills. Asuzu is currently down with a stroke. He went public with the illness about six years ago. _ Uche Maduagwu Days back, a man who identified himself as John Louis on Instagram shared a video of the actor where he was shirtless and begging for alms on the streets of Lagos. _ The actor was barely recognizable in the video. Mr. Louis said he found the actor begging for alms on the streets of Oke-Afa in Isolo, Lagos. _ The actor could also be seen in the video nodding in affirmation. Asuzu also looked dazed and disoriented in the video. “So we are calling on Nollywood to come and assist their member. It is not only to act the film, but this guy also cannot even walk,” Mr. Louis said in the video. _ Via Vanguard

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The post Nollywood Actor, Ernest Asuzu Confirms Begging On The Street, Speaks On Why He Did It (Video) appeared first on Information Nigeria.

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Birth Tourism: Pregnant Nigerian Women To Be Denied United States Visa Under New Policy – Motherhood In-Style Magazine

The United States Government on Thursday gave visa officers more power to block pregnant women abroad including those from Nigeria from visiting America. Under a new rule, the US Department of State directed visa officers to stop “birth tourism” — trips designed to obtain citizenship for children of pregnant women to the country.

The President Donald Trump’s administration is using the new rule, which takes effect on Friday, to push consular officers abroad to reject women they believe are entering the United States specifically to gain citizenship for their child by giving birth.

The visas covered by the new rule are issued to those seeking to visit for pleasure, medical treatment or to see friends and family, a report by The New York Times, said.

Conservatives have long railed against what they call “anchor babies,” born on American soil and used by their parents to bring in other family members.

President Trump has also criticised the constitutional provision that grants citizenship to most babies born on American soil.

It is not clear whether such “birth tourism” is a significant phenomenon or that “anchor babies” do lead to substantial immigration, but many conservatives believe both issues are real and serious.

“Birth tourism poses risks to national security,”

Carl C. Risch, Assistant Secretary for Consular Affairs at the State Department, wrote in the final rule.

“The birth tourism industry is also rife with criminal activity, including international criminal schemes.”

Consular officers were already unlikely to grant visa to women, who they believe were travelling to the United States solely to give birth. But with the new rule, the White House seems to be signalling to officers abroad that those close to delivering a child would be added to a growing list of immigrants unwelcome in the United States.

Nigeria is number three on birth tourism list in the United States after Russia and China. On Tuesday the US announced plans to impose fresh visa restrictions on countries including Nigeria.

Trump’s administration said the move was necessary to prevent potential acts of terrorism, as countries on the list don’t adequately vet their travelers to America.

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US will no longer issue Visas to foreigners for birth purpose

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Nigeria News | Laila’s Blog
US will no longer issue Visas to foreigners for birth purpose

The United States Government under Donald Trump administration on on Thursday says it will no longer issue visas to foreigners who want to give birth in the country.

The new United State Visa rules restricts “birth tourism,” in which women travel to the U.S. to give birth so their children can have a coveted U.S. passport. Henceforth, applicants will be denied tourist visas if they are determined by consular officers to be coming to the U.S. primarily to give birth, according to the rules in the Federal Register.

Foreigners who want to gets visas to give birth in the United States will now have to prove that they are traveling to the U.S. because they have a medical need and not just because they want to give birth there and must prove they have the money to pay for it — including transportation and living expenses.

According to a statement released by the office of the press secretary, the rule will be effective from Friday, January 24.

The statement reads;

Beginning January 24, 2020, the State Department will no longer issue temporary visitor (B-1/B-2) visas to aliens seeking to enter the United States for “birth tourism” – the practice of traveling to the United States to secure automatic and permanent American citizenship for their children by giving birth on American soil.  This rule change is necessary to enhance public safety, national security, and the integrity of our immigration system.  The birth tourism industry threatens to overburden valuable hospital resources and is rife with criminal activity, as reflected in Federal prosecutions. Closing this glaring immigration loophole will combat these endemic abuses and ultimately protect the United States from the national security risks created by this practice.  It will also defend American taxpayers from having their hard-earned dollars siphoned away to finance the direct and downstream costs associated with birth tourism.  The integrity of American citizenship must be protected.

This is coming amidst speculation that the US government is planning to place Nigeria and some other countries on ‘travel ban list‘.

Follow us on Facebook – @Lailasnews; Twitter – @LailaIjeoma for updates

US will no longer issue Visas to foreigners for birth purpose
Damilola Ismail

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5 Most paired Nollywood actors | P.M. News

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RMD & Stella Damasus

By Jennifer Okundia

The movie space is one where creatives come together to make magic. From scripting to a selection of the perfect fit for a role, to production and then the final result of having an interesting movie that can attract audience attention and do well in box offices, Nollywood is a highly competitive industry.

There are some actors who sync like beans and plantain or better still bread and butter. Whenever they are paired in a film, the duo can bring a script to life with their expertise.

Below are some actors who have been paired countless times on movie sets. In no particular order, check these ones out and let us know if we got the combination hook line and sinker or if you have your reservations and want to include others, tell us in the comment section.

Genevieve Nnaji & Ramsey Nouah

Genevieve Nnaji and Ramsey Nouah are an item not to be overlooked when romantic scenes are involved. The duo plays the roles so well you would think they were actually lovebirds in real-time. Movies like ”Power of Love, Break Up, Valentino” and many more will remain green in the minds of fans.

49-year-old Edo born Ramsey directed his debut with the film ”Living in Bondage: Breaking Free” in 2019 while Genevieve’s directorial debut movie, Lionheart, is the first Netflix Original from Nigeria, and first Nigerian submission for the Oscars. The movie was disqualified for having most of the dialogue in English.

RMD & Stella Damasus

The 58-year-old actor and model Richard Mofe Damijo aka RMD and beautiful mum of two Stella Damasus have both featured in movies like ”Engagement Night, The Bridesmaid, Burning Desire” e.t.c. It was almost impossible to not see these two in a love relationship. Nollywood definitely knows to bring their A-Game when pairing characters.

Chinedu Ikedieze aka Aki & Osita Iheme aka Paw Paw

Aki and Paw Paw are Nollywood twins when it comes to comedy. These two will crack you up with their gimmicks and scheme in roles assigned them. Chinedu Ikedieze and Osita Iheme are mostly together when acting due to their similarities and skill. Thumbs up to Nollywood for always pairing this duo.

Nadia Buari with Van Vicker

Ghanaian actors Nadia Buari and Van Vicker are like the Siamese in the movie industry. Producers like to bring these two together as lovers and it always works so well. Van knows how to win a woman’s heart, even though Nadia tries to pull her stunts. Little wonder he is a ladies man.

Jim Iyke and Rita Dominic

It is still surprising that these two did not end up with each other like a real couple. The love between Rita And Jim cannot go unnoticeable. They come off so well when acting and we always look forward to a scoop of Riri and a dose of Jimmy in the movies.

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Facebook Accelerator Startups in Nigeria raises over $500,000 in investments – The Eagle Online

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Startups participating in the second season of the Facebook Accelerator Programme have recorded significant achievements, including raising over $500,000 in committed investments and grants in just three months (halfway through the programme).
Within the same period, they have also made significant product pivots, sealed key partnerships and made progress towards creating unique products with world-class business processes.
These results were recently revealed by Facebook and CcHUB, following its 2019 programmes and training, which took place to support and empower students and entrepreneurs to build locally relevant solutions using advanced technologies at NG_Hub, Facebook’s flagship Community Hub space in partnership with CcHUB.
So far in the programme, the startups have been introduced to multiple venture capitalists and corporate executives and also matched with advisors within the CcHUB Global Advisory network.
These advisors include c-suite executives and experts from companies like Dell, Oracle, IHS Towers, Stanbic IBTC, Cellulant, Old Mutual, Axa Mansard, among others.
Six of the startups contributed to the $500,000 total raised so far, with highlights including:
Chekkit, the only African company to be accepted into a global accelerator, cementing a key partnership for their organisation. They also sealed a partnership with the Fantom foundation for their blockchain product and received a grant from Umdasch Challenge at World Summit Awards 2020.
Haulr emerged second place in the recently concluded Zenith Bank’s hackathon securing N6 million.
Simbi interactives sealed key partnerships and have so far received $35,000+ in investments and grants.
Student team, Vinsighte has completed its prototype that reads books to the visually impaired using computer vision.
AirSynq, completed its balloon satellite prototype and has enterprise clients on the waiting list for its product launch in February.
Gradely launched the beta version of its product, and received its first set of customers, whilst increasing the number of schools they are present in by 200 per cent.
These startups and many more will be showcasing their products and solutions aimed at tackling problems across multiple sectors to corporate executives, multinationals and other potential partners during the annual Facebook Accelerator Programme Innovation Showcase week in February 2020.
Speaking on the development, Adaora Ikenze, Head of Public Policy for Anglophone West Africa at Facebook, said: “The numbers speak for themselves, and further reinforces that the work and investments we are undertaking here in Nigeria are having real impact. At Facebook, we are passionate about helping developers and entrepreneurs to grow. We believe in empowering small businesses through our platforms to help more people launch and grow their businesses, which translates to real impact for their communities and local economies.”
Also speaking, Bosun Tijani, Chief Executive Officer, CcHUB, said: “This is yet another extremely brilliant cohort of startups from the Facebook acceleration programme which we are deeply proud of. This goes to further highlight the readiness of innovators across Africa to leapfrog development on the continent with technological innovation. We are delighted to be part of this journey with Facebook in its desire to inspire African entrepreneurs to be among the best in the world.”
With three months remaining, the cohort of season two of the Facebook Accelerator Programme will be undertaking workshop sessions, faculty one-on-ones, growth planning, Industry Advisor Sessions and mock pitches, rounded off with a demo day in April, the end of the programme.
For more information on the Facebook Accelerator Programme Innovation Showcase, visit www.bit.ly/isw-2020.

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