UK roundup: Somerfield Pension Scheme, longevity market, Partnership Assurance

first_imgThe Somerfield Pension Scheme has appointed BNY Mellon to provide custodial services for the £800m (€963.5m) scheme.The appointment of BNY Mellon follows similar contracts with the other schemes of Somerfield’s parent, the Co-Operative Group.BNY Mellon currently services the £7.4bn Co-Operative Group Pension Scheme and the £625m Britannia Pension Scheme.Mike Thorpe, pension finance and risk controller at the Co-Operative, said the success of the existing relationship and BNY Mellon’s strength as a financial institution were key to the appointment. In other news, consultancy Aon Hewitt has suggested the capacity for longevity swaps over the next two years could reach £100bn.It said it based its prediction on availability in the reinsurance market, which is showing signs of maturity after 2013 proved a bumper year for deals.A total of £8.9bn in longevity swaps were completed last year, Aon Hewitt said, with 15-20 providers now operating in the space, compared with only six when the market began in 2009.Matt Willmington, a partner at the consultancy, said capital markets could also offer funding capacity along side the reinsurance industry.However, he said it would be several years for this to materialise due to differing objectives among investors and pension schemes, and their lack of competitive edge over reinsurers.Lastly, an undisclosed pension scheme has transacted a £33m medically underwritten pensioner buy-in with Partnership Assurance.The members of the pension scheme belong to the building and civil engineering industry, leading the scheme to consider the underwritten buy-in as most appropriate.The deal is the largest single underwritten buy-in to date and covers the majority of the scheme’s pensioner liabilities.Andrew Cheeseman of PAN Trustees, who chairs the board, said the medical questionnaire sent to members was well received.The deal also proved significant in allowing the scheme to de-risk while providing security for members, he said.last_img read more

Canada Commits to Tidal Energy Sector with $30M Boost

first_imgCanadian government is investing CA$29.8 million in support of Halagonia Tidal Energy’s $117-million marine renewable energy project which aims to provide 9MW of clean electricity to Nova Scotia.The project should cut pollution from power generation in Nova Scotia, which currently relies on fossil fuels for a large portion of its electricity needs, and create well-paying, clean jobs for Canadians.The project, which will create approximately 120 jobs, will deploy a tidal energy system and combine both floating and submerged turbines to work together. It will demonstrate the capability to extract energy in both shallow and deep water.Irish based renewable energy developer DP Energy is managing two berths in the Bay of Fundy through its Canadian registered company, Halagonia Tidal Energy. It intends to develop both berths together as a single project. The project plans to incorporate 5 Andritz Hydro Mk1 1.5MW sea-bed mounted tidal turbines and a single SR2-2000 floating turbine by Scotrenewables Tidal Power. At 9MW this will make it the largest tidal stream array to be deployed anywhere in the world.Ultimately, the project should generate enough renewable energy to power more than 2,500 homes.The project will also demonstrate the potential for further tidal energy projects and provide valuable experience managing electricity generation from tidal resources, reducing barriers to entry for the tidal industry.The funding, which was announced at the G7 Ministerial Meeting on Working Together on Climate Change, Oceans and Clean Energy in Halifax, is part of Natural Resources Canada’s Emerging Renewable Power Program (ERPP) plan for promoting clean growth and fighting climate change.“This investment will support a low-carbon future while encouraging businesses to innovate, grow and create well-paying, long-term jobs for Canadians in an emerging sector. We have taken an approach that will grow our economy and protect the environment, all while encouraging growth in the marine renewable energy sector,” said Amarjeet Sohi, minister of Natural ResourcesDerek Mombourquette, Nova Scotia’s minister of Energy and Mines, stated: “Developing marine renewable energy is a key pillar of our province’s clean energy plan, and we continue to support projects that advance our understanding of how to capture the Bay of Fundy’s clean, renewable energy potential. Further public and private sector investment in this sector will spur innovation and solidify Nova Scotia’s position as a leader in the development of tidal technology and set us on a path to a cleaner economic future.”Simon De Pietro, CEO, Halagonia Tidal Energy, said: “Tidal energy can make a significant contribution to Canada and our world’s need to reduce greenhouse gas emissions, and has the potential to do so in a cost-competitive way along with the more mature renewable technologies of wind and solar. This investment and the support of both the Government of Canada and Province of Nova Scotia are welcomed and will help both deliver the technology in a challenging environment and support the development of a new industry as we make the essential transition to a low-carbon world.”last_img read more

Mozambique gets a make over

first_imgMozambique has attracted new investment from both local and foreign businessmen who are renovating the face of the historic districts.Families are selling to investors because the renovation works cost up to 1 million euros and investments will grow the economy by providing employment and attracting tourism.The Island nation had only attracted 5000 tourists in 2015  but authorities are hoping this new investment will bring in more tourists.last_img

Chelsea study stadium expansion

first_img The Blues on Tuesday night announced plans to consult local stakeholders, including community and residents’ groups, about existing conditions in the vicinity of the ground which has been their home since their launch in 1905. In the era of Financial Fair Play – something Chelsea are bidding to comply with – it is in the club’s interest to enhance matchday revenue. Chelsea owner Roman Abramovich has commissioned a study to explore the possibility of expanding the club’s Stamford Bridge home and improve access to the stadium on matchdays. Stamford Bridge’s current capacity is 41,837 and the Blues have previously explored the possibility of moving to nearby Battersea power station and Earls Court, options which are no longer there. It was stressed the consultation is the beginning of a “preliminary process”. A Chelsea spokesman said: “The owner has commissioned a study into the area surrounding Stamford Bridge. “As the correspondence that has gone out to local stakeholders makes clear, this consultation is just the start of a preliminary process to collect opinions on the existing conditions in the area.” A message to supporters on the club’s official website announced the study, which could result in “landscaped public walkways and cycleways” over the railway lines near the site to reduce pedestrian traffic on nearby streets on matchdays. The message added: “The study will also assess the feasibility of an expansion of the stadium within the existing historic site boundaries, potentially to enlarge its capacity, enhance its facilities and improve the movement of people and vehicles on match and non-matchdays. “The consultation will not concern itself with any design or details of a redevelopment on the stadium site. Instead it will ask about the surrounding publicly-owned areas and in particular the civic infrastructure necessary to ensure a successful and feasible redevelopment.” center_img Press Associationlast_img read more

Hurricanes continue impressive run with another victory

first_imgLEEWARD Islands Hurricanes continued their impressive run through Group A with a four-wicket win over Windward Islands Volcanoes on Wednesday night at Coolidge.Hurricanes did it in style as well, completing the highest successful chase in the competition this year by overhauling Windwards’ total of 293 for 8 with eight balls to spare.Skipper Kieran Powell continued his stupendous form by striking 80 off 84 balls to begin the chase, his fifth 50-plus score in six innings.Along the way, Powell crossed the 500-run barrier for the tournament. Powell added 112 for the first wicket with Montcin Hodge (46) and another 52 with Jermaine Otto (37) for the second before he eventually fell in the 32nd over to Liam Sebastien.Nkrumah Bonner fell in the 34th over to Delorn Johnson to make it 190 for 4, leaving 104 to win but man-of-the-match Rahkeem Cornwall entered and struck a blistering 74 not out off 50 balls to get Leewards across the line. Cornwall teamed with Akeal Hosein for an unbeaten 89-run seventh-wicket stand to seal the match.Hosein finished unbeaten on 26 off 24 balls and helped set up the win in the first innings by taking 4 for 57 with his left-arm spin.His spell included the wickets of Devon Smith, who came into the match with just 30 runs in six innings but finished with 101 for his seventh List A century, and Sunil Ambris for 53 off 36 balls, the wicketkeeper’s sixth half-century in seven matches putting him second behind only Powell for the tournament runs lead with 375 runs.VOLCANOES inningsT. Theophile c Cornwall b Tonge 19J. Charles c wkp. Hamilton b Tonge 18D. Smith b Hosein 101A. Fletcher c Hosein b Peters 41S. Ambris stp. Hamilton b Hosein 53K. Mayers b Tonge 16D. Johnson c Powell b Hosein 7L. Sebastien not out 13K. Hodge lbw b Hosein 0A. Alexander not out 15Extras: (lb-2, w-8) 10Total: (8 wkts, 50 overs) 293Fall of wickets: 1-27, 2-42, 3-175, 4-209, 5-248, 6-259, 7-267, 8-267.Bowling: Tonge 10-1-75-3 (w-1), Joseph 4-0-24-0, Cornwall 10-1-40-0 (w-3), Hosein 10-2-57-4 (w-2), Campbell 10-0-50-0, Peters 6-0-45-1 (w–2).HURRICANES inningsM- Hodge c wkp. Fletcher b Mayers 46K- Powell b Sebastien 80J -Otto b Sebastien 37N- Bonner b Johnson 8J- Hamilton b Hodge 10R -Cornwall not out 74O- Peters c and b Hodge 3A. Hosein not out 26Extras: (lb-3, w-5, pen.5) 13Total: (6 wkts, 48.4 overs) 297Fall of wickets: 1-112, 2-164, 3-175, 4-190, 5-202, 6-208.Bowling: Williams 7-0-59-0 (w-1), Johnson 9-0-52-1, Mayers 9.4-0-55-1 (w-2), Hodge 9-0-48-2, Sebastien 10-1-44-2, Alexander 4-0-31-0 (w-2).Points: Hurricanes 4, Volcanoes 0.last_img read more

USC edges CSUN to take weekend series

first_imgUSC baseball stepped up in a 30-inning effort this weekend to take two of three games against the Cal State Northridge Matadors this weekend.“We know we have to play well to win, and I think Northridge is a good team,” USC coach Dan Hubbs said. “They’re scrappy and they play hard to the end so this was a good test for us.”Freshman pitcher Kyle Twomey took the hill on Sunday for the Trojans (4-3), pitching a complete game in only his second collegiate start to lead the team to a 4-2 victory against the Matadors (4-3). Twomey gave up two runs on five hits and three walks and struck out five.Going the distance · With a depleted bullpen, freshman lefthander Kyle Twomey threw a complete game in Sunday’s 4-2 win over CSUN. — Joseph Chen | Daily Trojan“Getting to the ninth inning wasn’t really something of my concern,” Twomey said. “As cliche as it sounds, I was trying to take it one inning at a time.”The Trojans gave Twomey the lead early in the second inning when the team put two aboard, setting up freshman designated hitter AJ Ramirez to knock in the first run with an RBI single. The team added another run an inning later when sophomore first baseman Dante Flores brought home redshirt senior centerfielder Greg Zebrack, who led off with a double to deep left field.“If I could keep throwing up zeroes, it would be good,” Twomey said. “I knew every time it was going to get the offense going again, and they picked me up big time.”Twomey was helped in particular by Ramirez, who posted 3-for-4 outing with 2 RBIs and a double.“To see him go out there on the mound and do his thing, the whole field and the whole dugout is 100 percent cheering him on,” Ramirez said. “It’s awesome to watch [Twomey] pitch.”The complete game was pivotal for USC, whose depleted bullpen got a much-needed break after stepping up in consecutive extra-inning games. Hubbs said the extra rest will allow the relievers to be ready going into their next game Tuesday.The first two games of the series were both extra-inning affairs, with the Trojans losing at home in 11 innings on Friday evening but winning on the road in 10 frames on Saturday.USC bested CSUN 6-5 in 10 innings on Saturday night, despite squandering a four-run lead in a four-error game that Hubbs called “atrocious.”Despite coming out on top, the Trojans let a four-run lead evaporate in the bottom of the seventh by allowing three unearned runs on sloppy defense. The Matadors added the tying run that knotted the game at five apiece with a squeeze play in the bottom of the ninth.Quelling a late comeback effort from the Matadors, freshman pitcher Sean Adler stepped up with runners at first and second and delivered a two-out save to help the team record the win.The Trojans pieced together their winning rally when freshman right fielder Vahn Bozoian singled to start off the 10th inning, ultimately leading junior Kevin Swick to drive the winning RBI-single through the left side to put USC ahead.The Matadors took game one of the series on Friday night with a couple of big offensive bouts, including a five-run 11th inning that ultimately gave them the 9-4 win.The Trojans missed a series of opportunities, stranding 13 runners and failing to hold on to their two brief leads for more than two innings at a time.After the Matadors broke open the flood gates in the top of the 11th, USC was unable to respond.The bullpen will come off its Sunday rest thanks to Twomey’s spectacular outing and join the rest of the team Tuesday to take on Cal State Long Beach at home for a 6 p.m. game.last_img read more

Griffin, Drummond lead Pistons to rout of Wizards 132-102

first_img First Published: 27th December, 2019 11:32 IST 8 months ago CONFRONTED: Cong’s Sandeep Dikshit unapologetic after ‘Police is corrupt’ remark COMMENT Blake Griffin had 14 points and a season-high 11 rebounds and the Detroit Pistons routed the Washington Wizards 132-102 on Thursday night in a matchup of short-handed teams. The Pistons were missing Reggie Jackson (back) and Luke Kennard (knee), while Griffin, Bruce Brown and Derrick Rose played through injuries.John Wall, Davis Bertans, Isaiah Thomas, Thomas Bryant and Rui Hachimura sat out for Washington.Detroit, which had already lost twice to the Wizards, got 14 points and 10 rebounds from Andre Drummond. Pistons coach Dwane Casey was able to use the lopsided margin to rest his key players, including sitting Griffin for the fourth quarter.Christian Wood finished with 22 points and Todd Frazier scored 18 for Detroit, which had eight players in double figures.Anze Pasecniks scored a career-high 17 in his fifth NBA game to lead the Wizards. Bradley Beal had 15 points.Despite a makeshift lineup, the Wizards were able to stay close early, taking advantage of Detroit’s defensive rebounding issues. Washington pulled down 45% of their own misses in the first quarter. But, the Pistons moved out to a 68-48 lead by halftime.The Pistons have struggled all season in the third quarter. They were able to keep the momentum going against the Wizards, pushing their lead to 29 points, 89-60, midway through the period.Detroit led by as many as 33 points in the quarter.TIP-INSWizards: Washington was playing in Detroit on the day after Christmas for the second year in a row. In 2018, Beal and Wall combined for 42 points in a 106-95 loss. Markieff Morris had 12 points for the Wizards in that game and scored four for Detroit this year.Pistons: The team announced Thursday that Kennard will miss at least two weeks with knee soreness. Kennard had missed two of Detroit’s last three games in an attempt to remedy the problem.WELCOME TO THE LEAGUELouis King made his NBA debut for Detroit in the fourth quarter, finishing with two points and a rebound in four minutes.DEFENSIVE STRUGGLESWashington allowed at least 110 points for the 24th straight game, one short of the longest season-season streak since the 1990-91 Denver Nuggets did it in 28 straight games. The New Orleans Pelicans finished last season with a 25-game streak, while the 1990-91 Nuggets started a 24-game streak one game after breaking the 28-game run. Last Updated: 27th December, 2019 11:32 IST Griffin, Drummond Lead Pistons To Rout Of Wizards 132-102 Blake Griffin had 14 points and a season-high 11 rebounds and the Detroit Pistons routed the Washington Wizards 132-102 on Thursday night in a matchup of short-handed teams Written By FOLLOW US WATCH US LIVE 8 months ago Longtime political writer William Greider dies at 83 SUBSCRIBE TO US 8 months ago Smith, Louisiana Tech beat Miami 14-0 in Independence Bowl LIVE TV 8 months ago “A Happy Pancake” Seasonal Limited Menu Is Coming!! WE RECOMMEND Associated Press Television News last_img read more

Dudus moved to low-security facility

first_imgChristopher ‘Dudus’ Coke Contrary to rumors circulating last week, Jamaican crime Don Christopher “Dudus” Coke has not been released from prison. However, the United States Bureau of Prisons (USBP) has confirmed he was transferred from a maximum-security prison in South Carolina on March 7 to the low-security Fort Dix Federal Correctional Institution for men in New Jersey.At Fort Dix, inmates have more privileges and do not have to contend with bars and locked cages in maximum security lock-ups.The USBP did not give reasons why Coke was transferred from the maximum-security prison, but Butch Lawford, a former Miami correctional officer told National Weekly, “When a prisoner is moved from a maximum  to a low-security institution it is usually because that prisoner has been exercising good behavior. In a low-security institution the prisoner has much more liberties and privileges. Institutions like Fort Dix are more like secured camps.”The Fort Dix website describes it as fitted with community units without “bars, or locks on rooms,” where inmates are expected to display “a high degree of responsibility.”Indications are the institution provides services “required by policy in a consistent, humane, and a reasonable manner, treats inmates with courtesy while inmates are expected to treat staff likewise. It maintains a high level of sanitation and expects inmates to keep it that way.”The privileges inmates enjoy include access to TV from 11:00 am to 11:30 pm on weekdays, and to 2:00 am on weekends. Also, 300 minutes of monthly paid telephone calls, with each call being 15 minutes maximum; personal lockers in inmate rooms, use of microwave in the community units, and wake-up call at 6:00 am unlike 4 or 5:00 am in more secured institutions.Fort Dix has an honor system, where prisoners with good behavior can enjoy enhanced privileges including access to TV from 6:00 am.The facility currently has a population of 4,250 inmates, with an average age of 41 years. It is indicative that Coke could be released before his sentence terminates in July, 2030, as the average time served by inmates is 11 years, which would take Coke until March, 2028.Coke was extradited from Jamaica to the US in May 2010. Preceding his extradition, Jamaican law enforcement attempted to apprehend him in the West Kingston community of Tivoli Gardens, which he ran with an iron grip.Some 70 individuals were killed as residents resisted the incursion.In 2012, Coke pled guilty to drugs and firearm charges in New York federal court, and was sentenced to 23 years. Since his sentencing, Coke served time at the Metropolitan Correctional Center in Brooklyn, New York, then the Edgefield FCI located on the South Carolina/Georgia border.last_img read more

Gov. DeSantis Says Palm Beach, Miami Will Get Walk-up Test Sites

first_imgGov. Ron DeSantis announced Wednesday that the success of the state’s first two walk-up COVID-19 testing sites in Broward County is prompting state officials to introduce additional walk-up sites in Palm Beach and Miami-Dade counties.Both of the Broward sites were set up in order to serve communities where residents do not have cars to get tested at drive-thru sites.These locations, located in Pompano Beach and Fort Lauderdale, are for individuals who showg symptoms consistent with the virus — fever, a dry cough, fatigue, and in some cases, a runny nose and congestion.Nearly 1,600 people have been swabbed at those two sites so far.Those who have been exposed to someone who has tested positive may also request a test between 9 a.m. to 6 p.m. daily.State officials also plan to expand testing to more residents of nursing homes and assisted-care facilities, and to roll out so-called antibody testing, which can assess whether individuals have had infections.The governor also said he has been encouraged with the leveling off of cases in our state, and that nearly 18,000 more tests will be processed as a result of a new lab contract.He also questioned the World Health Organization and China’s responses to the virus. “This World Health Organization, I think the president is right on that. They were basically parroting China talking points. The World Health Organization in January, after what we saw was going on, said there was no evidence, that the coronavirus was transmissible person-to-person,” DeSantis said.He added that he plans to encourage companies that make life-saving medical equipment to move their manufacturing operations out of China.As of Wednesday evening, 28,576 cases and 927 deaths have been confirmed in Florida.Palm Beach County has 2,403 cases and 131 deaths, while Broward has 4,228 cases and 141 fatalities.Miami-Dade County has the most confirmed cases in the state, at 10,153, along with 240 deaths.More than 290,400 people in Florida have had a COVID-19 test so far. That represents the third-largest amount in the country, although it comprises less than two percent of the state’s population. Florida is the third most populous state, after California and Texas.last_img read more

Mallard’s Team of the Week — Nelson Special Olympians

first_imgThe Provincial Special Olympics are calling, and members of the Nelson chapter of Special Olympics are ready to take up the challenge.The local Special Olympians have recently completed an outstanding season of competition and are now ready to take put their skills to the test against the best in the province at the Special Olympics Provincial games in Langley, July 11-14. The Nelson delegation is proud to be sending seven athletes, one bocce player and seven soccer stars to the Langley game.Mallard’s Source for sports want to help with the send off by selecting the Special Olympians Team of the Week.Pictured are coaches and curlers, bowlers, bocce and soccer players from the Nelson Special Olympics following a recent event.Great job and good luck Team Nelson.Go Nelson!!last_img