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Asset manager Federated Hermes Inc. announced Thursday an agreement to take an 80% stake in FCP Fund Manager L.P., a Maryland-based real estate investment manager with $3.8 billion in assets under management. Federated Hermes will pay up to $331 million for the share of FCP, including $215.8 million in cash and $23.2 million in Federated Hermes Class B common stock. The transaction is expected to close in the first half of 2026, pending regulatory approval. The acquisition of the multi-family housing specialist will help expand Federated Hermes’ real estate platform in the U.S. The firm’s U.K. real estate operations had $5.5 billion in assets as of September 30. Federated Hermes also stated that it plans to grow its alternatives and private markets offerings in the U.S. The firm managed $19 billion in alternative investments at the end of the year’s third quarter, including private equity, private credit, real estate and market-neutral strategies, primarily in non-U.S. markets. According to a statement from Federated Hermes, the transaction will introduce additional expertise as the firm seeks to develop new products amidst increased demand for alternative investments. Never miss a story — sign up for CIO newsletters to stay up-to-date on the latest institutional investment industry news. “Upon closing, this transaction will allow Federated Hermes to enter the U.S. Real Estate Market at a time when the multifamily sector enjoys strong fundamentals and significant growth opportunities,” said J. Christopher Donahue, president and CEO of Federated Hermes, in a statement. “FCP brings a long-term record of real estate investment performance, which has been driven by a focus on risk-adjusted returns, extensive local and regional market knowledge and deep community relationships.” Federated Hermes managed $845.7 billion in assets globally, as of June 30. In April, the firm acquired U.K.-based infrastructure manager Rivington Energy Management Ltd. Related Stories:

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Making data centres happen: what issues should real estate investors bear in mind when considering investing in data centre assets? Now Reading The data centre event On 30 September 2025, Travers Smith hosted a bespoke event entitled "Making Data Centres Happen', exploring key themes in the evolution of this essential infrastructure asset class with a panel and a live audience. Several interesting themes emerged from their conversations. This briefing looks at three of the key legal issues that were explored in relation to investing in data centres. Three key questions relating to data centre investment 1. What are the barriers to the development of new data centres? It has traditionally been said that the main barriers were access to the right land in the right locations, access to sufficient power supply and obtaining planning consent. The high cost of fitting-out a centre is also a significant barrier to new entrants. The challenge of obtaining planning consent was mitigated when, in December 2024, the National Planning Policy Framework was adjusted to require local authorities to consider the need for data centres when setting local policies and deciding planning applications. Data centres are now classed as Critical National Infrastructure, and can also be opted into the Nationally Significant Infrastructure Projects regime, which means that planning applications are determined by the Secretary of State, rather than local planning authorities. There has been a raft of planning approvals, sometimes in controversial (and fiercely protected) areas of the Greenbelt for large data centre developments. Some have come via appeals (so granted on a national level) and others locally. Data centre need has therefore trumped the protections afforded to the Greenbelt. In terms of land availability, some of the more recent operators such as the neo cloud companies are much more location-agnostic, which has given rise to so-called 'edge' data centres which are smaller, decent...
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In the last week, two former Tesla self-driving/Autopilot program leaders have commented on the state of autonomous driving, telling a very different story than their former boss, Elon Musk. Elon Musk has been notoriously wrong about predicting when Tesla would solve self-driving. The CEO first announced that “all Tesla vehicles produced since 2016 have all the hardware necessary to achieve full self-driving,” and then claimed, every year from 2019 to 2025, that Tesla would deliver the capability through software updates by the end of each year. He reiterated the prediction recently, saying Tesla would remove the safety monitor from its robotaxi service in Austin and enable “unsupervised self-driving” in consumer vehicles by the end of 2025. There’s been a running gag at Tesla about engineers finding out that the company is supposed to deliver something as Musk announces it publicly – leading to a large discrepancy between what Tesla is working on and what Musk claims it will deliver. Self-driving has been a good example. While Musk has repeatedly claimed for the last 6 years that Tesla is on the verge of solving autonomy, the people actually working on the technology are not really in agreement. Some of them who left are starting to speak out. Andrej Karpathy, Tesla’s former head of artificial intelligence, who led the Autopilot and self-driving programs at Tesla from 2017 to 2022, recently warned that autonomous driving is far from a solved problem. In a new podcast this week, the AI expect again warned that autonomy is not solved: He said that he would “push pack” on the idea that what we are seeing in the world of autonomy today, with Tesla and Waymo, means it is a solved problem. Karpathy said: “[…] I think basically what takes the long amount of time and the way to think about it is that it’s a march of nines and every single nine is a constant amount of work, so every single nine is the same amount of work, so when you get a demo and something works 90% of th...
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RDEK launches public engagement on Accessory Dwelling Unit regulation updates Published 9:08 am Friday, October 24, 2025 Residents across the Regional District of East Kootenay (RDEK) are being encouraged to weigh in on potential changes to zoning and land use bylaws related to Accessory Dwelling Units (ADUs). ADUs are independent, self-contained living spaces located on the same property as a primary residence. They can be interior spaces like basement suites, attached units, or separate detached buildings. “Having strong participation from around the region in the Accessory Dwelling Unit planning process will help ensure a wide range of views and priorities are considered,” said RDEK planner Sarah Baines. “To help better understand the different perspectives, we have scheduled a series of workshops over the next two months and have opened a detailed public survey.” The consultation process kicked off in Electoral Area A on October 11. By December 1, a total of 15 workshops will have taken place across all six electoral areas. Two of those sessions will be held online to ensure residents who cannot attend in person — or who may currently be out of the region — can still participate. Alongside the events, a comprehensive survey is now available on the project webpage at engage.rdek.bc.ca/housing, where residents will also find an introduction video, workshop listings, and ongoing project updates. Hard copies of the survey are available by request for anyone without computer access, and responses can also be submitted by phone. Feedback will be gathered on several key topics, including what types of housing should qualify as ADUs, where they should be permitted, their potential benefits and drawbacks, servicing impacts, and size limitations. The engagement process will continue over the next eight months. Input received will help shape draft bylaw amendments, which are expected to be presented to the RDEK Board and the public for review in early 2026.

WASHINGTON − President Donald Trump returned from a weeklong trip to Asia boasting of trade deals with China and South Korea to boost cooperation in the region but also having threatened to resume testing nuclear weapons after a decadeslong moratorium to keep pace with military rivals. ContinueThe most compelling description of a restaurant I’ve ever heard came from James Murphy, founder of the indie-punk-dance band LCD Soundsystem. In an interview with Food & Wine magazine in 2013, he called Brawn in London “the world’s most dangerous restaurant.” The backstory: He and his girlfriend (now his wife, Christina Topsoe) arrived at their neighborhood spot around noon for a few small plates and wine. After running out of food, they ordered more. Then they needed more wine to accompany the dishes. Some friends arrived, and their lunch turned into a nine-hour fiesta. ContinueFrom shredding snow-capped peaks on a board to floating down crystal-clear creeks flowing through gorges that seem straight out of myth, Japan is a land of contrasting experiences. Ancient villages that carry the weight of millennia of history are just a stone’s throw away from the futuristic metropolises. Regardless of the season, the weather or one’s preference for experiences, Japan offers something for all. ContinueAs a musician, shop manager, “one for you, 19 for me” taxman or backpacker coping with the chaotic challenges of India, Gary Taylor could be counted upon to be reliable, fair, tolerant, generous, humorous and remarkably unflappable. He always found the good in everyone and everything, and made the most of every moment. Even the way he fought cancer was determined, positive and energetic. He died on August 18. Whether playing guitar, bass, keyboards, singing, writing songs or working behind the scenes to mix audio in a studio or at gigs and events like Wellington’s Newtown Festival, Gary (Gaz or Gazza to his mates) was thoroughly adept thanks to his technical know-how, natural talent and ...
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Scouting America, the organization formerly known in the U.S.A. as the Boy Scouts, has announced two new merit badges in artificial intelligence (AI) and cybersecurity. The badges are available through the Scouts BSA (Boy Scouts of America) program. Scouting America say the badges empower young people to master the skills of tomorrow alongside expert counselors, preparing them to thrive in an ever-evolving world. "Scouting has always been about preparing young people for life," said Roger Krone, president and CEO of Scouting America. "Today, that means more than mastering outdoor skills – it's about understanding the digital world and its impact on our lives. The new AI and cybersecurity merit badges give Scouts the tools and ethical foundations to navigate and lead in a rapidly changing world shaped by technology." Scouting America says the Artificial Intelligence (AI) Merit Badge will give Scouts a hands-on introduction. Scouts will discover what AI is, how it is used in everyday life and learn the basics of algorithms and automation. The badge will also involve the scouts tackling real-world challenges such as spotting deepfakes, understanding algorithmic bias and exploring how AI is impacting jobs and society. They say that going beyond technical skills, the badge emphasizes critical thinking about the ethical questions surrounding AI, including data privacy and responsible innovation. The Cybersecurity Merit Badge gives Scouts a comprehensive introduction to digital security. Scouts taking the course will learn to identify a range of cyber threats, from viruses to social engineering attacks, and to recognize common vulnerabilities in systems and applications. They will also develop practical skills such as creating strong passwords, using firewalls and antivirus software and understanding encryption. The badge also highlights responsible online behavior, teaching Scouts how to safeguard personal information and prevent cyberbullying. The new badges continue Sco...
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Tesla CEO Elon Musk has revealed new details about the company’s next-generation AI5 chip, describing it as “an amazing design” that could outperform its predecessor by a notable margin. Speaking during Tesla’s Q3 2025 earnings call, Musk outlined how the chip will be manufactured in partnership with both Samsung and TSMC, with production based entirely in the United States. What makes AI5 special According to Musk, the AI5 represents a complete evolution of Tesla’s in-house AI hardware, building on lessons learned from the AI4 system currently used in its vehicles and data centers. “By some metrics, the AI5 chip will be 40x better than the AI4 chip, not 40%, 40x,” Musk said during the Q3 2025 earnings call. He credited Tesla’s unique vertical integration for the breakthrough, noting that the company designs both the software and hardware stack for its self-driving systems. To streamline the new chip, Tesla eliminated several traditional components, including the legacy GPU and image signal processor, since the AI5 architecture already incorporates those capabilities. Musk explained that these deletions allow the chip to fit within a half-reticle design, improving efficiency and power management. “This is a beautiful chip,” Musk said. “I’ve poured so much life energy into this chip personally, and I’m confident this is going to be a winner.” Tesla’s dual manufacturing strategy for AI5 Musk confirmed that both Samsung’s Texas facility and TSMC’s Arizona plant will fabricate AI5 chips, with each partner contributing to early production. “It makes sense to have both Samsung and TSMC focus on AI5,” the CEO said, adding that while Samsung has slightly more advanced equipment, both fabs will support Tesla’s U.S.-based production goals. Tesla’s explicit objective, according to Musk, is to create an oversupply of AI5 chips. The surplus units could be used in Tesla’s vehicles, humanoid robots, or data centers, which already use a mix of AI4 and NVIDIA hardware for training. ...
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Tesla’s long-awaited and way underrated Solar Roof may finally be getting its moment. During the company’s Q3 2025 earnings call, Vice President of Energy Engineering Michael Snyder revealed that production of a new residential solar panel has started at Tesla’s Buffalo, New York facility, with shipments to customers beginning in the first quarter of 2026. The comments hint at possible renewed life for the Solar Roof program, which has seen years of slow growth since its 2016 unveiling. Tesla Energy’s strong demand Responding to an investor question about Tesla’s energy backlog, Snyder said demand for Megapack and Powerwall continues to be “really strong” into next year. He also noted positive customer feedback for the company’s new Megablock product, which is expected to start shipping from Houston in 2026. “We’re seeing remarkable growth in the demand for AI and data center applications as hyperscalers and utilities have seen the versatility of the Megapack product. It increases reliability and relieves grid constraints,” he said. Snyder also highlighted a “surge in residential solar demand in the US,” attributing the spike to recent policy changes that incentivize home installations. Tesla expects this trend to continue into 2026, helped by the rollout of a new solar lease product that makes adoption more affordable for homeowners. Possible Solar Roof revival? Perhaps the most intriguing part of Snyder’s remarks, however, was Tesla’s move to begin production of its “residential solar panel” in Buffalo, New York. He described the new panels as having “industry-leading aesthetics” and shape performance, language Tesla has used to market its Solar Roof tiles in the past. “We also began production of our Tesla residential solar panel in our Buffalo factory, and we will be shipping that to customers starting Q1. The panel has industry-leading aesthetics and shape performance and demonstrates our continued commitment to US manufacturing,” Snyder said during the Q3 2025...
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65 Victoria Rd, Bellevue Hill, which comes with an extra large pool and championship tennis court, has a $40m price guide for a December 3 auction. Venture capitalist Clayton Larcombe, who heads AI powerhouse Pacific Partners, and his property stylist wife Kyara have listed their impressive Bellevue Hill mansion for December 3 auction. TRG founder Gavin Rubinstein has a $40m guide for the magnificent circa 1930s property on a sprawling 1700sqm landholding at 65 Victoria Rd, which boasts a perfect north-easterly aspect. It was Rubinstein who sold the property to them just three years ago for $33,500,000. The home was previously owned by Valiant Hire owner Michael Sternberg. Soon after their purchase the Larcombes worked with acclaimed architects Rob Mills Architecture to transform it into one of Bellevue Hill’s most significant private estates — a substantial 1,243sqm building including a basement level with garaging for eight cars, a new 12m by 5m swimming pool and a full-size tennis court. MORE: The home is being sold with approved plans to transform it into one of Bellevue Hill’s most significant private estates. A new tennis court and pool. And an eight-car garage and gym in the basement. But having won development approval, they’ve opted to sell up due to their growing work commitments. Says Rubinstein: “Kyara’s business, The Property Stylist, which is the best property stylist company in Sydney in my opinion, has grown exponentially in the last 12 months, and Clayton is expanding to the Middle East. “They’re very time poor, raising kids as well, and now have a preference to buy something that’s already done.” A feature in CEO Middle East magazine is headed: ‘Clayton Larcombe’s Pacific Partners: the AI powerhouse reshaping venture capital in the Middle East and beyond’. It advises that Larcombe’s global finance career began on the trading floors of Morgan Stanley and JP Morgan, but something was missing. “I didn’t really want to climb the corporate ladder anymor...
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Oslo-based Riff, formerly Databutton, has raised $16 nillion in a Series A led by Northzone, bringing its total funding to $21 million. The vibe coding platform helps business teams build and launch production-ready AI applications using starter apps, templates, and expert guidance, aiming to tackle the high failure rate of enterprise AI initiatives. Existing investors Skyfall Ventures, Maki.vc, Sondo Capital, and Global Founders Capital joined the round, alongside new backer Illusian. Riff plans to use the funding to scale adoption across industries including financial services, logistics, healthcare, and manufacturing, enabling teams at companies like Twilio and Cognite to turn AI potential into tangible business impact. Founded by Trygve Karper, Martin Røed, and Viral Shah, Riff is targeting the ‘do-ers’ at all levels inside every business, helping them in creating AI applications and agents to rapidly advance their productivity and output. They’re set on fixing a major problem in the AI app building space: while AI tools have exploded, impact has lagged, and businesses see 95% of AI initiatives fail. Riff represents an advance on existing vibe coding tools by offering users a platform that enables native data connections and integration into secure production grade-infrastructure. To assist building, users get access to pre-set starter apps, templates, and expert guidance from Riff’s team. The result of this: users can build apps combining complexity, real data, and security, empowering them to solve real business problems. Real world value leads to much higher rates of customer satisfaction and retention, driving higher completion rates for projects. The company is already seeing strong adoption across numerous industries including financial services, logistics, healthcare, manufacturing, and consumer goods. More than 150,000 are using Riff across companies like Twilio and Cognite, leveraging the platform to optimize internal operations. Trygve Karper, CEO & co...
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NHC Innovation, BytePlus Partner to Develop Advanced AI Solutions for Smart Cities Riyadh, October 23, 2025, SPA -- NHC Innovation CEO Rayan Alaql and BytePlus General Manager for the Middle East and Africa Long Li have signed a memorandum of understanding (MoU) to develop and implement advanced AI solutions aimed at enhancing real estate and municipal platforms and services across the Kingdom. Under the MoU, the two parties will collaborate to design and implement smart city solutions and AI-powered applications to enhance municipal, regulatory, and housing services, boost operational efficiency, and improve user experience. The partnership focuses on developing advanced AI systems for language and image analysis to enhance service delivery and user engagement. A key objective is to create a smart digital assistant that supports users in accessing real estate and municipal services. Alaql stated that the partnership is a significant milestone toward innovation and smart transformation, leveraging AI to design services that improve the quality of life and operational efficiency in the municipal and real estate sectors. Li noted that the collaboration reflects a shared commitment to advancing digital transformation by combining BytePlus’ global expertise in AI and data analytics with NHC Innovation’s leadership in smart city development. The joint effort aims to develop impactful solutions that enhance municipal services, empower communities, and contribute to achieving the goals of Saudi Vision 2030. -- SPA 11:00 Local Time 08:00 GMT 0022

Colo. EMS helps future Eagle Scout with service project The Thompson Valley senior organized fellow scouts to assemble kits for the Thompson Valley EMS CARES mission to reduce 911 calls By Sharla Steinman Loveland Reporter-Herald LOVELAND, Colo. — A Loveland scout dedicated his culminating project to helping the community. Coen Segerstrom, a senior at Thompson Valley High School, partnered with Thompson Valley EMS CARES, a program that aims to reduce the number of 911 calls through proactive services, to create 60 hygiene kits and 60 food kits for people in need for his Eagle project; his effort will earn him the highest rank in the Boy Scouts of America program. | HOT TOPIC: EMS blood draws at DUI scenes: Should EMS play cop? “I knew I wanted to do something that really helped the community directly, but also could benefit a public service organization, like Thompson Valley EMS,” Coen said, who is part of Scouting America Troop 81 in Loveland and has spent 13 years as a scout. On Oct. 6, Coen and other scouts came together at the Trinity Lutheran Church in Loveland, located at 3333 Duffield Ave., to put the kits together, one item after another in an assembly line. The hygiene kit contains deodorant, toothpaste, a toothbrush, and soap, while the food kits have a variety of different ingredients to make complete meals, like peanut butter and jelly sandwiches, spaghetti and vegetable sides. Coen said that with the $1,600 he was able to raise from business owners and community members, he wanted to pick items that would be nutritious, but also last a while. People are able to reach out to CARES directly for help, but often TVEMS crew members encounter people in need while working and refer them to the program. TVEMS case managers will carry a few kits with them to give to people at their discretion and keep the rest at a storage facility to restock and provide as needed, said Jennifer Hillmann, TVEMS executive director of communications. “ … Being able to have my kits...
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Tesla’s VP of AI/Autopilot software, Ashok Elluswamy, has offered a rare inside look at how the company’s AI system learns to drive. After speaking at the International Conference on Computer Vision, Elluswamy shared details of Tesla’s “end-to-end” neural network in a post on social media platform X. How Tesla’s end-to-end system differs from competitors As per Elluswamy’s post, most other autonomous driving companies rely on modular, sensor-heavy systems that separate perception, planning, and control. In contrast, Tesla’s approach, the VP stated, links all of these together into one continuously trained neural network. “The gradients flow all the way from controls to sensor inputs, thus optimizing the entire network holistically,” he explained. He noted that the benefit of this architecture is scalability and alignment with human-like reasoning. Using examples from real-world driving, he said Tesla’s AI can learn subtle value judgments, such as deciding whether to drive around a puddle or briefly enter an empty oncoming lane. “Self-driving cars are constantly subject to mini-trolley problems,” Elluswamy wrote. “By training on human data, the robots learn values that are aligned with what humans value.” This system, Elluswamy stressed, allows the AI to interpret nuanced intent, such as whether animals on the road intend to cross or stay put. These nuances are quite difficult to code manually. Tackling scale, interpretability, and simulation Elluswamy acknowledged that the challenges are immense. Tesla’s AI processes billions of “input tokens” from multiple cameras, navigation maps, and kinematic data. To handle that scale, the company’s global fleet provides what he called a “Niagara Falls of data,” generating the equivalent of 500 years of driving every day. Sophisticated data pipelines then curate the most valuable training samples. Tesla built tools to make its network interpretable and testable. The company’s Generative Gaussian Splatting method can reconstruct...
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Here’s something you don’t hear every day: a data center in Ishikari, Japan that was completed in 2024 is using Hokkaido’s freezing winter air and renewable energy to run completely emission-free. Not just low emission or carbon neutral through offsets, but legitimately zero emission in real-time operation. The Zero Emission Data Center (ZED ISHIKARI) sits in Ishikari city on Japan’s northernmost island of Hokkaido, where temperatures can plunge to minus 5 degrees Celsius in winter. Instead of fighting this cold with conventional air conditioning, TAISEI Design Planners Architects & Engineers embraced it as a free cooling system. The location was chosen specifically because the Ishikari Bay New Port industrial park has a “100 percent renewable energy area” commitment which requires all companies who build in the area to power their facilities with renewable energy. What makes this facility brilliant is how it leverages geography and climate as infrastructure. From October through May, when temperatures stay consistently low, the data center “can be fully operated without backup air conditioners” by simply blowing that icy Hokkaido air through the server rooms. Traditional data centers gulp massive amounts of electricity to keep their servers from overheating, but ZED ISHIKARI essentially has a natural refrigeration system running for more than half the year. The building’s design treats the entire structure as one large air handling system rather than installing expensive ductwork throughout. Cold air flows in through strategically placed ventilation systems in the ceilings and walls, absorbs heat from the servers, and gets vented back out. That expelled heat isn’t wasted either. Heat from the machines is channeled to systems that keep roads around the facility ice free, solving two problems with one elegant solution. When natural cooling isn’t enough, the site is connected by a private powerline to nearby solar and wind power plants that each provide 2MW of power t...
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