Red Bull pilot Max Verstappen accused Ferrari’s Charles Leclerc of “irresponsible driving” after their collision at the start of the Japanese Grand Prix, destroying the Dutchman’s chance at a win as well as his car.
There was plenty of action on the track Sunday, where the two future Formula One stars butted heads within minutes of the start. Verstappen had a good start from fifth position and moved ahead of Leclerc at the second turn, but Leclerc was having none of it and rammed into the Red Bull rising star, sustaining damage that eventually led to him being forced to retire from the race.
Leclerc was clocked by officials for the incident, as well as continuing to drive with a broken wing beyond the opening lap that finally broke apart and flew into Lewis Hamilton’s car. He was docked five seconds for the first offence and 10 seconds more for the second, making what should have been a sixth place finish a seventh place one.
An unhappy Verstappen told Sky F1: “My whole car is destroyed. The whole side. There are just holes in the side of the car. And now they will investigate it after the race. What more should he do to get a penalty? I like hard racing, but I don’t think this was hard racing, I think it was irresponsible driving into turn two. He had a bad start so for sure he was trying to recover places but there’s only so much you can do. It’s a shame that it happens.
Leclerc admitted fault after the race on his Twitter account.
My mistake in Turn 1. It ruined Max’s race and put ourself in a bad position for the remaining of the race.
Mexico next ??
?: @F1Gregorypic.twitter.com/BfncHTkk0Y
The win went to Valterri Bottas, who had a nearly-picture perfect day, beating Ferrari pilot Sebastien Vettel by more than 10 seconds and giving his Mercedes teammate Lewis Hamilton the third place spot.
This too was a bit fraught, as Vettel had pole position but suffered from an incredibly bad start rolling forward in his grid box before the start of the race, almost causing him to be penalised. But even without the penalty, Bottas had the jump on him from the start, and the German never recovered the top spot.
Two Monegasque companies will be responsible for risk analysis and cybersecurity for the Principality of Monaco as it continues with its ambitious digital transition programme.
Monaco Digital and Egerie were presented last week as new partners of the Monegasque Digital Security Agency (AMSN) to assist with the launch of this year’s ‘Extended Monaco’ project.
Monaco Digital specialises in supporting businesses who are changing over from traditional to digital platforms. Formerly Monaco Informatique, the company relaunched under its new name last February with four locations in France and the Principality.
The second new partner, Egerie, is a cybersecurity software publisher, addressing the growing concerns in Monaco and worldwide about growing digital security risks.
The ‘Extended Monaco’ project is part of the Principality’s continued efforts to become amongst the most “Safe and sound” nations on the planet. As digital security is of paramount interest to both the state and the many companies operating here, these endeavours are taken extremely seriously.
“We chose the company Egerie, today in partnership with Monaco Digital, which offers the same coverage and the same collaborative tools to all the Monegasque structures,” said Dominique Riban, Director of the AMSN. “Plus they will be organsations using a robust methodology of cyber risk analysis and management, all the better so that information systems will be protected. The fact that the data analyses remain on Monegasque soil brings a guarantee of sovereignty.”
Monaco will invest €3 million in the United Nation’s Green Climate Fund from 2020 through to 2022.
Jean-Laurent Imbert, the First Secretary to the Permanent Mission of Monaco at the UN, spoke to the General Assembly’s Economic and Financial Committee last week, reaffirming the Principality’s commitment to the environment on a global level by offering this pledge.
He also reminded all present of Monaco’s firm dedication to reducing greenhouse gas emissions locally, as well as the country’s involvement in the ‘Nature Based Solutions’ coalition, and in the recently released IPCC report on oceans and the cryosphere.
The Economic and Financial Committee plays a particularly important role this year in light of the current high-level deliberations on the climate, development financing and sustainable development goals.
The upcoming year will see several important meetings of global leaders discussing the environment, including the COP 25 UN Framework Convention on Climate Change (UNFCCC) where teen activist Greta Thunberg will address the gathering in Santiago, Chile this December, the 2nd UN Oceans Conference in Lisbon in June 2020, and the 15th Conference of the Parties to the Convention on Biological Diversity (COP15) being held in February in Kunming, China.
Lady Monika Bacardi has established herself as a major player in the world of film in a very short space of time. She co-founded AMBI Pictures in 2013, a company which has managed to produce eight to 10 quality movies a year featuring high-profile names. One of their recent films is award-nominated ‘Waiting for the Barbarians’ starring Johnny Depp, while a cartoon designed to educate kids about climate change is due out in November.
The businesswoman, film producer and philanthropist sat down with Monaco Life to talk about why she decided to enter the world of film, and how she uses the medium to send important life messages.
Monaco Life: What was your motivation behind entering the cinema industry?
Monika Bacardi: I have always been passionate about every form of art since I was a child and I entered cinema because I think it is a powerful instrument to send messages to the world. Also, cinema is about so many things: it is producing, the music, editing, publicity, the relationship with actors and actresses – it is the whole process. So, I think cinema is one of the most complex forms of art and I really love it.
Why did you decide to create AMBI Productions?
I founded AMBI in 2013 with Andrea Iervolino and our original goal was to make films in Italy with American actors. Then we opened a distribution company in Los Angeles, because of course distribution is fundamental. After this we acquired the Exclusive Media Group movie library (which owns the rights to properties including ‘Donnie Darko’ and ‘Memento’). So, it is an interesting experience. We just had a film premier at Venice, ‘Waiting for the Barbarians’, directed by Ciro Guerra and starring Johnny Depp.
I have to say that every film is a new story, a new life, and it is very powerful. On 1st November we are releasing our new cartoon called Artic Dogs in 3,500 cinemas in the USA. It is a very powerful educational film for children and adults, raising awareness about melting ice caps, climate change and the environment. We can not wait for action anymore, we must do something now or it will be too late.
How has Waiting for the Barbarians been received so far?
We were nominated in Venice but didn’t receive the award, though it was great to be nominated and it received very good reviews. It also features Robert Pattinson, Greta Scacchi and Mark Rylance, who gave an amazing performance, and is about a magistrate presiding over an unidentified colonial outpost in the middle of the dessert who begins to question his loyalty to the empire. The film is actually a story of peace, and we are now taking it to London as well as the Deauville and Zurich Film Festivals. We are also trying to run a campaign for the Oscars.
Tell us more about the cartoon that will be released in a few weeks’ time…
Artic Dogs features the voices of a number of Hollywood celebrities: Heidi Klum, James Franco, Alec Baldwin and John Cleese, and they all agreed to take part because of the message of the film, that the polar ice caps are melting and climate change is happening.
You have also produced The Music of Silence, a biopic about Italian singer Andrea Bocelli…
It was actually written by Andrea Bocelli, and he made a guest appearance in the film. It is a story about the fact that even if you have a handicap, like Bocelli – he can not see – you can still make something of your life. It is a film of hope and the message of life: if you want something bad enough you can achieve it.
We are here today to watch a screening of ‘Be natural: the untold story of Alice Guy-Blaché’. As a female in the male dominated film industry, what kind of challenges have you personally had to face?
In this industry, it is still a man’s world, especially in producing. So, it is very difficult for a woman to stand up and say “this is my place”, sometimes you have to fight for it. But women must stand together, not in competition with men, but they must join forces and work together. A woman has as much right as a man if she provides the same work, so I encourage all women to be strong and work towards their goals, and not be dismissed for their gender.
Do you encourage equal pay in your films?
We are trying to get more involved in this area, one of our next goals is to contribute in this process.
Do you see more of a crossover between your films and social movements in the future?
Yes, of course. Now, for example, we are encouraging young stars to take part in the ‘Giving Back’ campaign, which teaches you that when life gives you something you have to give back. We are also doing a film made only by women, from the writer to the director and the actresses. It is not because we want to fight men, it is because women need to stand up for their rights and demand that their work roles be accepted.
Where does cinema fit in to a world of Netflix and Amazon Prime?
With the growing popularity of these streaming sites, demand for cinema is weakening. So, you have to adapt to the times. A lot of teenagers like short films, so we are cutting movies down into series, as teenagers don’t have the attention spans like we did growing up. It is important to understand the movement of the time and to adapt. Young people are the future and we have to give them what they want, there is no point resisting it. So, if we have to cut a film into episodes (which I think is a pity), then we do it.
Lady Monika Bacardi with Andrea and Veronica Bocelli
What are your favourite films?
I don’t have only one favourite film or genre. It’s a mix, because every film is different and each film has a purpose to serve. It’s like in life, I like many different things and the same goes for film.
Philanthropy is a very important part of who you are, why is this such a large focus of your life?
I am a resident of Monaco and I think that many organisations in the Principality are doing a lot for the world. When I am giving to charities in Monaco, I point out that I support the Principality as a strong country which gives a lot of support to the world. So, yes, I am behind these charities and our Sovereign Prince who really does so much for his country, the environment, and the ocean; he gives his time to so many causes. And I always try to contribute in my little way.
Like Princess Grace said to Prince Albert: “I see the world not only with the eyes, but through the heart”. You have a completely different sensation when you look at the world through your heart. It will open doors.
Weekly markets: Is the US labour market signaling a recession?
With the fourth quarter of 2019 finally underway, markets await third-quarter (Q3) gross domestic product (GDP) readings to assess the resilience of the global economy, which significantly slowed in the second quarter.
The first major country to report GDP is China, which is expected to slow further amid ongoing trade tensions. Although China-US trade negotiations restarted at the beginning of the month, little progress has been made, with both countries entrenched in their positions.
While Chinese Q3 growth has likely been supported by a more dovish monetary policy, after the People’s Bank of China lowered banks’ reserve rate over the summer, further easing is unlikely. We believe that a boost in fiscal policy and a truce with the US, in particular, should be the most effective tools to sustain the economy.
In the US, the negatives of rising protectionism and a global slowdown have so far been contained to the manufacturing sector and mitigated by the US Federal Reserve’s more dovish stance. However, with weakness in manufacturing now spreading to services, it will take more than accommodative policies to ease investors’ concerns. Markets will welcome any signs of stabilisation in September’s industrial production and a pick-up in October’s Federal Reserve Bank of Philadelphia business index following last month’s disappointing print. That said, a sustained rebound in business activity will be contingent upon progress on the trade front.
The eurozone’s harmonised index of consumer prices and UK’s consumer prices index are both due out next week and are likely to be on the soft side in September, providing a tailwind to consumers. A combination of low inflation and steady wage growth has helped boost consumer purchasing power over the year. Household spending has effectively kept afloat European economies in 2019 in the face of Brexit woes and external demand shocks. However, while the Brexit saga unfolds, investors should keep an eye on sterling as sharp currency depreciations could lead to a significant pick-up in UK inflation.
Recession fears misplaced, for now
While global manufacturing is contracting and services activity has been slowing, consumers’ health has been resilient so far. Monitoring consumer spending is critical in assessing whether a recession is brewing, given that consumption is the single largest contributor to most economies’ growth.
Unfortunately, the labour market tends to be a lagging indicator and so its predictive abilities are limited. Yet, we believe it can help confirm or counter signals sent by other indicators.
In particular, the weekly jobless claims statistics are helpful in tracking tipping points in the labour market. And here, signs are rather encouraging. Indeed, the series’ four-week moving average remains well below its long-term average.
In fact, according to US Federal Reserve economist Claudia Sahm, a prolonged and significant deterioration in the labour market is needed before a recession becomes a real possibility. Indeed, according to Sahm’s work, which has predicted every recession since 1970, the three-month average unemployment rate needs to climb by 0.5 percentage points from its lowest level over a period of 12 months for gross domestic product to contract for more than two consecutive quarters.
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