Milton remains a powerful Category 5 major hurricane with winds of 160 mph.
Milton remains a powerful Category 5 major hurricane with winds of 160 mph.
Storm surge potential for Hurricane Milton
Storm surge potential for Hurricane Milton
The 8 pm advisory from the National Hurricane Center keeps Milton with winds of 165 mph, making the storm an intense Category 5 major hurricane.
The 8 pm advisory from the National Hurricane Center keeps Milton with winds of 165 mph, making the storm an intense Category 5 major hurricane.
The 8 pm advisory from the National Hurricane Center keeps Milton with winds of 165 mph, making the storm an intense Category 5 major hurricane.
Hurricane Hunters have measured a very low minimum pressure inside Hurricane Milton.
Milton has weakened to a Category 4 storm but remains a powerful major hurricane.
Milton has weakened to a Category 4 storm but remains a powerful major hurricane.
Hurricane Milton is maintaining a Cat. 5 status with slightly weaker winds.
Hurricane Milton is maintaining a Cat. 5 status with slightly weaker winds.
Hurricane Milton is maintaining a Cat. 5 status with slightly weaker winds.
Hurricane Milton is maintaining a Cat. 5 status with slightly weaker winds.
Milton continues to intensify as powerful Category 5 major hurricane, with Hurricane Warnings now posted for much of Central Florida.
Milton continues to intensify as powerful Category 5 major hurricane, with Hurricane Warnings now posted for much of Central Florida.
Milton continues to intensify as powerful Category 5 major hurricane, with Hurricane Warnings now posted for much of Central Florida.
Milton continues to intensify as powerful Category 5 major hurricane, with Hurricane Warnings now posted for much of Central Florida.
Hurricane Milton 11p update
Hurricane Milton 11p update
Hurricane Milton 8 p.m. update
Hurricane Milton 8 p.m. update
Hurricane Milton 8 p.m. update
Hurricane Milton Headlines 5 P.m.
Hurricane Milton 5 p.m. update
Hurricane Milton 5 p.m. update
Tropical Storm Milton will gradually gain strength Sunday and will most likely become a hurricane by this Sunday evening.
Tropical Storm Milton will gradually gain strength Sunday and will most likely become a hurricane by this Sunday evening.
Tropical Storm Milton will gradually gain strength Sunday and will most likely become a hurricane by this Sunday evening.
10/5/24 11 p.m. update
10/5/24 11 p.m. update
10/5/24 11 p.m. update
11 p.m. update
Meteorologist David Heckard said Milton remains a powerful Category 5 hurricane as it moves toward Florida.
The 11 p.m. advisory from the National Hurricane Center indicates that Milton will be an intense Category 5 major hurricane with winds of 160 mph.
Milton is expected to weaken some as it approaches the state on Wednesday, but it is highly likely it will be a major hurricane at landfall.
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The updated track shows Milton making landfall somewhere between the Tampa Bay area and the Suncoast early Thursday morning. It is then expected to track across Central Florida overnight Wednesday into Thursday.
A portion of the West Coast is likely to experience a major hurricane strike. Catastrophic storm surges, hurricane-force winds, and flooding rains are all likely.
In Central Florida, Milton will bring significant impacts. Hurricane-force winds over 74 mph, flooding rainfall of 8-14 inches and a few tornadoes are becoming likely.
Stay with Channel 9 for updates on Milton.
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10:30 p.m. update
Here is the possible storm surge along the east coast of Florida with Milton.
Meteorologist David Heckard said the worst surge will likely arrive Thursday afternoon during high tide.
The worst surge will likely arrive Thursday afternoon during high tide.
The worst surge will likely arrive Thursday afternoon during high tide.
The worst surge will likely arrive Thursday afternoon during high tide.
The worst surge will likely arrive Thursday afternoon during high tide.
The worst surge will likely arrive Thursday afternoon during high tide.
The worst surge will likely arrive Thursday afternoon during high tide.
The worst surge will likely arrive Thursday afternoon during high tide.
The worst surge will likely arrive Thursday afternoon during high tide.
The worst surge will likely arrive Thursday afternoon during high tide.
8 p.m. update
Milton remains a powerful Category 5 major hurricane in the southern Gulf.
The 8 p.m. advisory from the National Hurricane Center keeps Milton with winds of 165 mph, making it an intense Category 5 major hurricane.
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Earlier today, Milton had weakened to a Category 4 system.
A Storm Surge Warning continues for all of the east coast of Central Florida, as a storm surge of 3-5 feet will be possible all along the east coast.
Milton is expected to weaken some as it approaches the state on Wednesday, but it is highly likely it will be a major hurricane at landfall.
The updated track now shows Milton making landfall along the west coast of Florida early Thursday morning. It is then expected to track across Central Florida overnight Wednesday into Thursday.
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A portion of the West Coast will likely experience a major hurricane strike. Catastrophic storm surges, hurricane-force winds, and flooding rains are all likely.
Milton will have significant impacts on Central Florida. Hurricane-force winds over 74 mph, rainfall of 8-14 inches, and a few tornadoes are becoming likely.
Stay with Channel 9 for updates on Milton.
The 8 pm advisory from the National Hurricane Center keeps Milton with winds of 165 mph, making the storm an intense Category 5 major hurricane.
6:30 p.m. update
Channel 9 spoke with a certified mental health counselor, Dwight Bain, about how to handle pre-hurricane emotions and post-hurricane psychological recovery.
Hurricane Hunters have measured a very low minimum pressure inside Hurricane Milton.
The pressure has dropped to 905 MB, down from 918 MB in the 5 p.m. advisory. This indicates an intensifying storm.
Winds remain at 165 mph, but winds may increase later tonight.
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5 p.m. update
Milton has strengthened back to a Category 5 major hurricane and continues to move toward the west coast of Florida.
The 5 p.m. advisory from the National Hurricane Center has winds of 165 mph, making Milton an intense Category 5 major hurricane.
Earlier today, Milton had weakened to a Category 4 system.
A storm surge warning is now in effect for coastal Brevard County, as a storm surge of 3-5 feet will be possible all along the east coast.
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Milton is expected to weaken some as it approaches the state on Wednesday, but it is highly likely that it will be a major hurricane at landfall.
The updated track now shows Milton making landfall along the west coast of Florida early Thursday morning. It is then expected to track across Central Florida overnight Wednesday into Thursday.
The threat of a major hurricane strike is likely for a portion of the west coast. Catastrophic storm surges, hurricane-force winds, and flooding rains are all likely.
Milton will have significant impacts on Central Florida. Hurricane-force winds over 74 mph, rainfall of 8-14 inches, and a few tornadoes are becoming likely.
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Stay with Channel 9 for updates on Milton.
4:30 p.m. update
The City of Melbourne has issued a local state of emergency.
Osceola County School District said all public schools will be closed Wednesday through Friday.
Gov. Ron DeSantis is holding another news conference to share updates on preparations for Hurricane Milton.
Watch DeSantis’ full Tuesday afternoon news conference here:
The governor is speaking from the Florida Horse Park in Ocala.
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2:35 p.m. update:
Universal Orlando Resort announced Tuesday afternoon that its parks and other attractions will be temporarily closed due to Hurricane Milton.
Officials said Universal Studios Florida, Islands of Adventure and Universal CityWalk will be open until 2 p.m. and will be closed for all of Thursday.
Universal said hours of operation are subject to change based on forecast alterations and some attraction and experience availability may be limited on Wednesday.
Universal Volcano Bay waterpark will be closed for all of Wednesday and Thursday.
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Halloween Horror Nights at Universal Studios Florida will also be canceled for Wednesday and Thursday.
Universal said its hotels will remain open during the storm.
The National Hurricane Center said a NOAA Hurricane Hunter aircraft recorded that Hurricane Milton has strengthened back to nearly a Category 5 storm.
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NHC said Milton now has maximum sustained winds around 155 mph and is moving east-northeast at 8 mph.
Hurricane #Milton Advisory 14A: Air Force Reserve Hurricane Hunters Find That Milton’S Intensity Has Rebounded. Today is the Last Full Day For Florida Residents to Get Their Families and Homes Ready and Evacuate If Told to Do So. https://t.co/tW4KeGe9uJ
Officials said Tuesday is the last full day for Florida residents to get their families and homes ready for the storm.
Millions of people have already evacuated from Florida’s West Coast and more will continue to do so.
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1:48 p.m. update:
Florida Highway Patrol reports heavy traffic patterns continue to flow northbound and eastbound on interstate highways in Central Florida.
Parts of northbound I-75 and eastbound I-4 have activated Emergency Shoulder Use (ESU) activity.
The ESU is active in the inside (left) shoulder lanes on northbound I-75 from mile marker 262 near Tampa to mile marker 433 at I-10.
The ESU activity is also open on eastbound I-4 from mile marker 3 near Tampa to mile marker 63 in Osceola County.
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“For those wishing to evacuate, the time is now,” a Florida Highway Patrol spokesperson said. “Stay calm, drive safe, remain alert and [arrive alive].”
Troopers said they are also continuing to escort fuel tankers to assist with delivery of gasoline supplies and debris removal.
Orange County Mayor Jerry Demings will update Orange County’s preparations for Hurricane Milton this afternoon.
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The conference will be at 4 p.m.
Demings will be joined by:
12:08 a.m. update:
SeaWorld Orlando said it will temporarily close its Central Florida parks due to Hurricane Milton.
Officials said SeaWorld Orlando, Aquatica and Discovery Cove will be closed on Wednesday and Thursday.
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SeaWorld said the decision was made to ensure the safety of its guests, employees and animals.
Officials said extra precautions will also be in place to ensure the safety of the animals at the parks.
“A dedicated team of animal care experts, including veterinarians, will remain onsite 24/7 to monitor the animals, safely housed in buildings designed to withstand Category 5 hurricanes. Once weather conditions improve, our recovery team will ensure the habitats are safe for the animals to return,” a SeaWorld spokesperson said.
People looking to return to the parks on Friday should check first to ensure the attractions are open.
There has not been a major shift in the storm’s track and it is still expected to make landfall around 2 a.m. Thursday near Tampa Bay.
Milton will remain at hurricane strength as it moves over Central Florida.
10:50 a.m. update:
State Attorney Andrew A. Bain will hold a news conference Tuesday to warn people against looting and property theft after the storm.
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Bain is planning to speak at 11:30 a.m. from the State Attorney’s Office in Orlando.
“People should be focused on their safety, not worrying about the threat of theft or looting. Anyone caught engaging in looting, burglary or theft during this time will be prosecuted to the fullest extent of the law and there are enhanced penalties for looting under Florida’s current state of emergency order,” said a spokesperson from the State Attorney’s Office.
Channel 9 will have a crew at Bain’s news conference and will provide live coverage on WFTV.
10 a.m. update:
Duke Energy said it has increased its preparations before the landfall of Hurricane Milton in Florida.
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The energy company says it has increased its storm resources from 10,000 to 16,000 in Florida.
Duke Energy said it is convening 16,000 power line technicians, vegetation workers, damage assessors and support personnel at The Villages, Suwannee Valley Farmers Market and Richie Brothers Auction.
These staging sites are outside of Hurricane Milton’s projected path, but also close to the impacted areas as soon as possible.
“Hurricane Milton’s intensity is expected to be unlike anything the Tampa Bay area has ever experienced before,” said Todd Fountain, Duke Energy Florida storm director. “Duke Energy Florida is preparing to respond accordingly – with an army of resources at the ready – and we strongly advise our customers to use this time to protect their homes and businesses, while helping ensure their family members, friends and neighbors are safe.”
Duke Energy said crews are prepared to start safe power restoration as soon as weather and other conditions allow.
9:10 a.m. update:
Gov. Ron DeSantis held a news conference Tuesday morning to share the latest details on Florida’s preparations for Hurricane Helene.
Watch DeSantis’ full news conference here:
DeSantis said Florida continues to fulfill requests from communities in the potential path of Hurricane Milton.
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Hundreds of first responders have been deployed along Florida’s west coast to begin search and rescue operations as soon as the storm passes.
Power restoration resources are being placed in advance of the storm, including 30,000 linemen who are coming to Florida from all over the country.
8:20 a.m. update:
Inmates in Lake County are being used to help fill sandbags for residents preparing for Hurricane Milton.
The Lake County Sheriff’s Office said inmate crews are filling bags at PEAR Park, Minneola Athletic Complex, and North Lake Regional Park (Umatilla) locations.
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Deputies said the inmates were assisting residents that are not capable of filling their own sandbags.
Lake County officials said 14 locations are open for residents to get sandbags.
The county sandbag sites will be open daily from 7 a.m. to 7 p.m. or until weather conditions become unsafe.
Gov. Ron DeSantis will hold a news conference Tuesday morning to share updates on the preparations for Hurricane Milton.
DeSantis is set to speak around 7:45 a.m. from the State Emergency Operations Center in Tallahassee.
Florida Division of Emergency Management Director Kevin Guthrie, Florida Department of Transportation Secretary Jared Perdue, Florida Department of Highway Safety and Motor Vehicles Director Dave Kerner and Major General John D. Haas Adjutant General of Florida will join DeSantis at the event.
Watch DeSantis’ full Monday afternoon news conference here:
WFTV will have live coverage of the governor’s news conference on Channel 9 and wftv.com.
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6:40 a.m. update:
Channel 9 is seeing major traffic slowdowns in western Central Florida as people evacuate ahead of Hurricane Milton’s arrival.
Bumper-to-bumper gridlock traffic was seen Early Tuesday morning on I-75 in Pasco County.
A traffic camera near 275 shows thousands of drivers barely moving on northbound I-75 in the Wesley Chapel area.
The Florida Division of Emergency Management said it is partnering with Uber to provide free rides to and from shelters in counties evacuating from Hurricane Milton.
We have partnered w/@Uber to provide Floridians free rides to & from shelters in counties evacuating for #Milton. Get a ride:
📲 Open the Uber app 👤 Tap Account on the bottom right & tap Wallet ✅ Add promo code MILTONRELIEF
Find a state-approved shelter:…
— FL Division of Emergency Management (@FLSERT) October 8, 2024
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People who qualify can access the rides by opening the Uber app, open their account on the bottom rights, open the “Wallet” and adding the promo code MILTONRELIEF.
The National Hurricane Center confirmed Hurricane Milton is nearly a Category 5 storm after weakening to a Category 4 overnight.
NOAA officials said Hurricane Milton is still an “extremely powerful” system.
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Milton has maximum sustained winds around 155 mph and is moving east-northeast at 12 mph.
4 am CDT – Extremely powerful Hurricane #Milton is just north of the Yucatan Peninsula. Forecast to remain an extremely dangerous hurricane when it reaches Florida Wednesday night. This is a very serious threat and residents in Florida are urged to listen to local officials.… pic.twitter.com/UifYnQO9rf
NHC said Milton poses an extremely serious threat to Florida, and residents are urged to follow local officials’ orders.
Current forecast timing has Milton making landfall at a major hurricane around 1 a.m. Thursday.
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2 a.m. update:
Milton has weakened to a Category 4 storm but remains a powerful major hurricane.
The 2 a.m. advisory from the National Hurricane Center states that Milton’s winds are 155 mph, making it a Category 4 hurricane.
Earlier Monday, Milton recorded a central pressure of 987 mb, making it one of the strongest hurricanes in the Gulf on record.
Milton is expected to be a Category 4 or 5 storm through Tuesday, then weaken some as it nears Florida. It is expected to remain a major hurricane at landfall.
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Milton has weakened to a Category 4 storm but remains a powerful major hurricane.
Original story:
Hurricane Milton is maintaining a Cat. 5 status with slightly weaker winds.
The 11 p.m. advisory on Oct. 7 from the National Hurricane Center has winds of 165 mph, showing some slight weakening.
Earlier on Monday, Milton recorded a central pressure of 987 mb, making it one of the strongest hurricanes in the Gulf on record.
Hurricane Warnings continue for most of Central Florida, including Metro Orlando, and Hurricane Watches are in effect for Brevard, Volusia, and Flagler counties. Hurricane-force winds are expected area-wide late Wednesday into Thursday.
Hurricane Milton is maintaining a Cat. 5 status with slightly weaker winds.
Milton is expected to maintain its Category 5 strength through Tuesday, then weaken some as it nears Florida. It is expected to remain a major hurricane at landfall.
The latest track shows Milton making landfall along the west coast of Florida early Thursday morning. It is then expected to track across Central Florida on Thursday.
Hurricane Milton is maintaining a Cat. 5 status with slightly weaker winds.
The threat of a major hurricane strike is now becoming likely across the west coast of Florida. A catastrophic storm surge and hurricane-force winds are possible along and south of the landfall point.
In Central Florida, the threat for significant impacts continues to increase. Hurricane-force winds over 74 mph, rainfall over 10 inches and storm surge along the east coast of 3-5 feet are all possible.
Miranda Hart has said “getting married in mid-life is a full injection of joy and fun”, after revealing she’s tied the knot at the age of 51.
The comedian and actreess has married a man she met during the pandemic.
“It’s the best!” she said. “He’s my best friend, we have the best fun… The fact that I could meet somebody – it’s not a rom-com story but it’s hope, and that’s why I think, whatever situation you’re in, there’s always hope that things really do change.”
She discusses the relationship in her new book, and also opens up about her struggle with chronic fatigue after being diagnosed with Lyme disease.
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The star, who is best known for her BBC sitcom Miranda, told the BBC it had been a “tough few years”, but she was “thrilled” by her marriage, and was “really keen to get back to some silliness”.
“It’s so nice to be back in the television, I feel very excited to be here,” she told The One Show.
“Because once you’ve been bed and housebound with a fatigue-based chronic illness that takes a long time to be diagnosed – which sadly I know a lot of people will know – you miss life a lot. So I’m thrilled to be sitting here.”
Lyme disease is a bacterial infection which can spread to humans via a tick bite.
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The disease can be easily treated if detected and diagnosed early, but for a long time, the actor didn’t know what was causing her to feel unwell.
It often starts with a circular rash and can lead to flu-like symptoms, nerve pain and sometimes a droop (facial palsy) on one, or both, sides of the face.
For most people, symptoms are short-term and can be alleviated by a course of antibiotics, but a minority go on to suffer more long-term symptoms, including chronic tiredness and unexplained neurological issues.
The star said she found it incredibly hard being confined to her home for such a long period.
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“Unless you’ve had fatigue [like that], you don’t understand what literally not getting off the floor is,” Hart told BBC Radio 4’s Today programme.
“I was basically bed-bound – and housebound. There’d be times where I’d look at a glass of water, and think ‘I don’t know how to pick that up’.
“All anyone wants is to be heard, accepted, loved and seen… and when you’re not – particularly in a medical situation – it’s the worst.”
Part of why she’s written the book was to share her discovery of what helped her recovery, she said.
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“I thought I need to research this whole wellness expertise and dialogue that’s out there, but I was at bed at home alone, the doctors didn’t know what to do with me and I couldn’t have a cold plunge or go on a yoga retreat.
“So I thought what are the universal truths? So I did years of research, when I felt able to, and in the book there are 10 keys, which I call my treasures, to living well.
“And they’ve really genuinely [helped]. I feel like despite the suffering it came from, that I’m living a life of joy and meaning and fulfilment in a way I never have before.
“I feel like I know who I honestly am, in a way that I never knew I needed to, which is just incredible.”
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When she finally received her diagnosis, she was able to trace the condition back to her teenage years.
“Probably when I was about 14 or 15, I got a tick-borne illness… and that’s when my symptoms started,” she recalled.
“It was such a relief. I mean, being misunderstood and misjudged is one of the hardest things about these kind of conditions. For sure.”
The actress, who began her career performing at the Edinburgh Fringe in the early 2000s, remains best known for her portrayal of the unlucky-in-love and socially awkward Miranda from her self-titled TV sitcom which ran from 2009 until 2015 .
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Having taken time out to rest and recover, and with her new husband by her side, Hart suggested she finally felt well enough to start taking on new projects.
“I’m really keen to get back to some silliness now, I miss the studio floor, I miss laughter.”
After appearing on The One Show, Hart said she found her fans’ delight at her marriage “really very touching”.
Posting a video on X, she said: “I’ve got my best friend to do life with and it’s wonderful, and I’m also utterly thrilled to be back in telly land and having a book out, so thanks so much for all your support.”
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Hart ended the video high-fiving her husband – only his hand was visible in the clip – which she joked was an “exclusive”.
She hasn’t revealed his identity, and said she wouldn’t say how they met until the book is published because it is “a little bit of a twist”.
Her book, titled I Haven’t Been Entirely Honest With You, is published on Thursday, 10 October.
You can enable subtitles (captions) in the video player
So, Susannah, what problem are we mulling over today?
Can we solve our overfishing problem and sustainably satisfy the world’s hunger for fish? According to the UN’s Food and Agriculture Organisation, or the FAO, in 2020 the International Trade of Fisheries and Aquaculture Products was worth around $150bn. But the FAO now classifies a third of the world’s fishery stocks as overfished, which means they’re being fished beyond sustainable levels.
So what can be done to combat overfishing? Firstly, fishing subsidies which incentivise overfishing are a huge problem. Now, these are subsidies from governments for things such as fuel, fishing gear, and new vessels. An academic study from 2019 estimated that these government payouts to the fishing industry totalled around $22.2bn.
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There has been some progress in limiting subsidies, especially those that end up supporting unregulated fishing. In June 2022, the World Trade Organisation agreement on fishery subsidies was signed. The goal in mind is to prohibit subsidy support for illegal, unregulated, and unreported fishing, and limiting fishing of overfished stocks. But it’s only due to come into force when two-thirds of WTO members ratify it. That means that 110 countries have to ratify it. But as of the 1st of July of this year, only 78 countries have done so.
So what other measures could we be looking at? Firstly, we could be doing more to protect essential predator species. For example, it’s estimated by the WWF that one third of shark species face extinction. Predator species like sharks play a crucial role in the ocean ecosystem and food chain.
Next, to avoid bycatch, the FAO has suggested placing the top end of fishing nets two metres lower in the water. Now, this has been shown to effectively reduce the mortality of marine mammal bycatch by 98 per cent in places like the Indian Ocean. Finally, the growth of aquaculture, which is fish farmed in pens or ponds, could ease some of the pressure on wild stocks.
Today, more than 50 per cent of the fish that we eat is farmed. Of course, these measures that I’ve been speaking about come with their own challenges. If we take aquaculture, for example, critics say aquaculture’s practises for sourcing feed harm food security in poorer countries. That’s because it hoovers up small species of fish, which the local communities rely on for food in order to make fishmeal for the aquaculture farms.
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Another huge challenge facing authorities is simply the sheer number of fishing boats in the world, many of which are unregulated. Now, according to the FAO, illegal or unregulated fishing accounts for some 20 per cent of what’s caught, or around 26mn tonnes of fish every year. Regulating fisheries has always been a highly political issue. But no matter how difficult the problem of overfishing is to solve, it cannot be ignored.
If there’s one thing that consistently worries the financial advice sector, it’s the looming capacity crunch.
The statistics are well known: a recent Investec survey found 49% of financial advisers and planners intended to retire within the next five years, while 35% aimed to retire by age 50. And this is only the latest in a long line of such findings.
So, why aren’t these numbers being replaced? Again, it’s a familiar story: in some cases, young people see financial advice as not relevant to them, as something “stuffy and old-fashioned”, in the words of the LIBF’s John Somerville.
These initiatives are a great starting point, but they should act as a spur for a much bigger push
Others may feel, incorrectly, that they lack the necessary skills. Or they are put off by the routes to qualification, seeing them as arduous and expensive. Or the advice firms themselves are reluctant to invest in new talent.
But the overwhelming problem is a lack of awareness. According to the CII’s Claire Bishop, “Often, it’s just not something that’s on the radar of people at school, university or college.” The same is true for careers advisers.
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This is despite the opportunities financial advice offers in terms of role diversity, opportunity, location, salary and self-employment. It is a sector that suits a wide range of talent and abilities; as Bishop puts it: “There’s an assumption that it’s all about maths. And it’s not. It’s about helping people and understanding people.”
All of the schemes agree that collaboration is vital
And, while no one would describe it as an easy profession, research last year by Dynamic Planner revealed that nine in 10 advisers under 30 would recommend financial advice as a career. There aren’t many other professions that could make that claim.
So, it’s time the sector pulled together and did more to promote itself. If financial advice is so rewarding, why don’t more people know about it? And, if everyone in the profession is agreed that we have a problem, why not collaborate more on the solutions?
Fortunately, there are plenty of initiatives out there that are doing just that. This month’s cover feature highlights four of them: CII’s virtual work-experience programme with Springpod; the New Talent Alliance; The Verve Foundation’s ‘We Are Change’ initiative; and Future Financial Adviser.
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In some cases, young people see financial advice as not relevant to them, as something stuffy and old-fashioned
All of these are promoting opportunities to young people and assisting them on their journey. All of them are helping to push financial advice into the spotlight. And all of them agree that collaboration is vital.
However, we need to do more. These initiatives are a great starting point, but they should act as a spur for a much bigger push.
So, if you know of a project that is addressing the adviser gap, or you have any thoughts that aren’t addressed in our feature, we’d love to hear from you!
Tom Browne is editor of Money Marketing. Contact him at: tom.browne@moneymarketing.co.uk
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This article featured in the October 2024 edition of Money Marketing.
If you would like to subscribe to the monthly magazine, please click here.
Professor Raphael Bengoa has returned to Northern Ireland and said the need for transforming health and social care, backed by sustained budgets, is even more pressing than ever.
Prof Bengoa headed the panel which produced a 2016 report which set out the need for health transformation.
His one-day visit is the final piece in the Department of Health’s reset jigsaw which has recently seen the publication of the long-awaited report on hospital reform and other plans on rebooting health service reform.
Ahead of speaking at a conference, in the La Mon Hotel, he said he welcomed the opportunity to return and to see that health transformation remains an “overriding priority”.
‘Major struggles on several fronts’
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Professor Raphael Bengoa
The audience will include health professionals from hospitals to community care.
He said he was aware of the challenges that the health service had faced over the period since 2016.
“It is by no means unique in that regard. Right across Europe, there are major struggles on several fronts,” he said.
“These include balancing short-term pressures with long-term reform needs, dealing with growing demand and greater patient complexity, and recovering from the impact of the COVID-19 pandemic,” he said.
The conference will hear more about what’s happening in the community with presentations from the Community Pharmacy, Integrated Care in the Community and Multi-Disciplinary Teams – a model of care which should bolster support for GPs including input from physiotherapists and social workers.
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The Health Minister said the Bengoa visit is about “rebooting the reform agenda”.
“Systems not Structures was about much more than our hospitals. It’s about fundamentally rebalancing provision to provide more care at community level, to focus on prevention rather than treatment, and to help people manage conditions and live long healthy lives,” said Mike Nesbitt.
“Achieving this shift is the work of a generation,” the minister added.
Analysis: How can we transform with tight budgets?
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Transformation, has been slow and low key compared with that set out in 2016.
Northern Ireland’s stop, start government, the pandemic and lack of recurrent budgets are, without a doubt, partly to blame but the lack of major decision making and imagination about how to do things differently with the funding available cannot be ignored.
The big question for the professor will be how do you transform and be radical when all services including those in hospital are stretched and budgets tight?
There was the publication of significant reports around general emergency surgery, which separated planned from emergency surgery.
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These opened the wider debate around the need for transformation to protect patients to continue providing non-emergency surgery.
The creation of surgical hubs on some hospital sites followed to tackle waiting lists.
General Practice has said its funding has been cut and practices have closed which social care remains the poor relation.
Reality check
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Transformation, has been slow and low key compared with that set out in 2016
The conference will also hear about tackling health inequalities, which is something Nesbitt has said he wants to prioritise.
Nesbitt said reconfiguring hospital services remains an important part of the overall jigsaw – critics have said the plan contained in Hospitals – creating a network for Better Outcomes, which is now out for public consultation lacked detail and did not go far enough about reducing Northern Ireland’s sprawling hospital network.
Instead of closing hospitals, which is not a vote winner, the department is removing some services from hospitals and centralising them in one location instead.
This means some people must travel further to receive surgery.
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As in 2016, there is a more positive vibe coming from the front-line health services.
Pay deals are slowly getting across the line and there is evidence of more joined up thinking between the health trusts.
Also, the minister has said he is the man to the make the “difficult calls” and when he steps down in 2027 he said that he should be held to account.
Wednesday should not be an exercise in back slapping and cheerleading but instead a reality check and planning how to move forward.
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The professor pulled it out of the bag eight years ago.
Let’s hope the former Basque country minister can reignite the debate and encourage Nesbitt to leave a legacy that will make a real difference.
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
It’s no secret that Gulf autocrats control serious cheddar. A (paywalled) report out this month attempts to estimate quite how much.
Totting up the available numbers, Global SWF reckon the Gulf Cooperation Council’s ruling families control around $6.8 trillion of assets. That’s two whole Apples! Click through the chart below to see how this breaks down by state, category and fund:
Lastly, they own pretty much everything in touching distance. According to the report, Gulf SWFs own every one of their national champions across every major industry. State capitalism at its most obvious (high-res here):
But it’s not just champions. They also own most of all stocks listed in GCC.
The report’s authors combed through the share registers of each of the 877 companies listed in the region and found that 68 per cent of the Abu Dhabi market cap is owned by local SWFs and royal family offices. In Saudi, a full 77 per cent of the market is owned by PIF and the state. For the GCC overall, 70 per cent of market capitalisation is ultimately state-owned.
Admittedly, much of this is owing to the outsized prominence of the Saudi market in the region, and the outsized prominence of the almost wholly state-owned Aramco. But still:
Despite owning so much of their listed markets, GCC authorities have still made some efforts to get outsiders interested in their stocks. These efforts have had mixed results.
Norway’s $1.7 trillion mega-SWF NBIM divested all its Saudi stocks in 2021. And Norway’s largest domestic pension fund KLP dumped GCC stocks on human rights concerns in 2023. Sweden’s giant pension fund AP7 blacklisted Saudi Aramco — which makes up around a quarter of the region’s market cap — at the start of the year, although this didn’t stop Saudi from selling $11.2bn of stock over the summer, albeit at the bottom end of the range and at a 6 per cent discount to the market. And despite its phenomenal share price growth, IHC (which constitutes around a third of Abu Dhabi’s ADX exchange market cap) mostly just perplexes international investors.
But passive investors? They’re much more enthused. Or, at least, they’ve found their money poured into the region following choices made by the index providers to whom they’ve outsourced investment decision-making. MSCI’s decision to include UAE and Qatar (in 2014), Saudi (in 2019), and Kuwait (in 2020) to its indices has meant anyone committing cash to a MSCI EM or MSCI ACWI tracker fund is buying stocks in the region.
The BIS noted that MSCI and FTSE’s admission of Saudi stocks to their indices in 2019 coincided with foreign equity flows into the country that exceeded those heading to India and China. And MSCI themselves calculate that foreign investment in Saudi stocks has more than quadrupled from $23.5bn to $97.5bn since their index inclusion decision was made.
Somewhat unusually, the study includes Royal Private Offices — a category of state-controlled assets we haven’t seen analysed before. These account for a cool $0.5tn, or about half a Berkshire Hathaway, which sounds maybe less impressive. Almost $350bnof these assets are run for the UAE’s ruling Al Nahyan family alone. But as the authors note:
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This group of entities, led by Abu Dhabi’s Royal Group and all its subsidiaries, is even more opaque than SWFs … links to the royal families can make the boundaries between SWFs and RPOs blurry at times.
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