UK defined benefit pension deficits hit £900bn on ‘flight to safety’

first_imgUK defined benefit (DB) pension schemes’ combined deficit jumped by £80bn (€96bn) last Friday morning as a result of the financial markets’ initial response to the previous day’s UK vote to leave the European Union, according to consultancy Hymans Robertson.The collective UK DB deficit reached £900bn on Friday morning on the back of the referendum result, with liabilities hitting £2.2trn, the consultancy said.The “record high” deficit level had also been recorded in February, according to Hymans Robertson.The overnight deficit jump coincided with a spike in demand for Gilts and other assets perceived as safe, and a slump in equities – the FTSE 100 fell by 8.7% on opening. Sterling hit a 30-year low against the US dollar, with high volatility. Commenting on Friday morning, Andy Green, CIO at Hymans Robertson, said financial markets “responded even more dramatically to the result than expected”.“As is often the case in times of extreme uncertainty and volatility, we expect to see a ‘flight to safety’,” he said.“Barometers of risk aversion have gone up in value, with corresponding falls in yields – around 25 basis points on nominals.”Green’s colleague, head of corporate consulting Jon Hatchett, said a poorer outlook for UK GDP growth following the UK’s Leave vote would probably weigh on equity markets and interest rates, putting more pressure on funding deficits.He warned against a knee-jerk reaction to short-term market volatility but suggested that, “as the dust settles, it may be worth considering whether any changes to [schemes’] investment strategy are required”.Hymans’ CIO Green said: “Clearly, there is an immediate impact on markets and the funding positions of DB pension schemes, but the full longer-term impact remains to be seen.”last_img read more

No action against Ivanovic

first_img Press Association The FA also investigated claims made on social media that Ivanovic had bitten McCarthy – the body studied all video footage and contacted Everton – and found conclusively he had not done so. Everton and Chelsea have until 6pm on February 17 to respond to the charge. Regarding Ivanovic, an FA statement read: “Chelsea’s Branislav Ivanovic will not face any further action in relation to an incident involving Everton’s James McCarthy in the 86th minute. “In Premier League matches, if an incident has not been seen by the match officials, a three-man panel of former elite referees will be asked by the FA to review it and advise what, if any, action they believe the match referee should have taken had it been witnessed at the time. “For an FA charge to follow, all three panel members must agree it is a sending-off offence. In this instance, the panel did not believe the conduct was worthy of a dismissal.” Chelsea boss Jose Mourinho had threatened to walk out of his post-match media conference when asked about the possible headbutt by Ivanovic. Mourinho, last month fined £25,000 for saying there was a ”clear campaign” against Chelsea, was not prepared to discuss the possibility the Serbia defender could face action. Chelsea’s Serbian defender tangled with Everton midfielder McCarthy during a melee after the sending-off of Gareth Barry in the 86th minute of the London side’s 1-0 win on Wednesday. A panel of former referees studied the incident but decided it was not worthy of a red card. However both clubs face disciplinary action for “failing to ensure their players conducted themselves in an orderly fashion and/or refrained from provocative behaviour”. center_img Branislav Ivanovic will not face any action over his clash with James McCarthy but both Chelsea and Everton have been charged by the Football Association with failing to control their players.last_img read more

Broward Gym Owner Arrested Third Time After Moving Equipment Out

first_imgA Broward County gym owner has been arrested for the third time, after police say that he repeatedly failed to comply with health guidelines to limit the spread of the coronavirus.Michael Carnevale was taken into custody last Thursday and bonded out, only to be re-arrested on Friday along with his wife.His gym, which is called Fitness 1440, was shut down for at least 96 hours.Carnevale says his arrest on Friday was unjustified, since no one was actually inside the facility, and he had moved all of the workout equipment outside for members to use in the parking lot.“We really have to start asking questions is when they’re telling gym owners and yoga studio operators, your patrons have to wear a facial covering while exercising. Those of us in the fitness industry understand that’s not safe. This is something we can’t subscribe to anymore,” Carnevale explains.Courtesy: Facebook/Fitness 1440Records show that he Carnevale was originally arrested late last month. He filed a lawsuit on July 26 against Broward County for injunctive relief, claiming that his business has been negatively impacted by county emergency orders.Police officers told members of the gym in the parking lot that they could not use the equipment, since the gym has been shut down.Staff members then moved the equipment back inside the facility.CDC guidelines continue to recommend wearing a mask and social distancing as the most effective method of preventing the spread of COVID-19.last_img read more

IUPUI looks to end streak vs Wright State

first_imgIUPUI looks to end streak vs Wright State SENIOR STUDS: Wright State’s Loudon Love, Bill Wampler and Cole Gentry have combined to account for 47 percent of the team’s scoring this season, including 56 percent of all Raiders points over the last five games.FUELING THE OFFENSE: Marcus Burk has either made or assisted on 46 percent of all IUPUI field goals over the last three games. The junior guard has 29 field goals and seven assists in those games.THREAT FROM DEEP: IUPUI’s Jaylen Minnett has attempted 257 3-pointers and connected on 35.4 percent of them, and is 14 of 43 over the past three games.TWO STREAKS: IUPUI has dropped its last three road games, scoring 69.3 points and allowing 82.3 points during those contests. Wright State has won its last 10 home games, scoring an average of 85.4 points while giving up 67.8.DID YOU KNOW: The Wright State offense has scored 81.6 points per game this season, ranking the Raiders fifth nationally. The IUPUI defense has allowed 78.9 points per game to opponents (ranked 303rd). Associated Press February 15, 2020center_img Share This StoryFacebookTwitteremailPrintLinkedinRedditIUPUI (6-21, 2-12) vs. Wright State (22-5, 12-2)Ervin J. Nutter Center, Dayton, Ohio; Sunday, 2 p.m. ESTBOTTOM LINE: Wright State looks to extend IUPUI’s conference losing streak to six games. IUPUI’s last Horizon win came against the Oakland Golden Grizzlies 89-85 on Jan. 25. Wright State is coming off a 75-58 win at home over Illinois-Chicago in its most recent game. ___For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.comlast_img read more

T-Time: Graham Harrell can save USC’s offense

first_imgThe Longhorns had committed a cardinal sin, despite seizing a late fourth-quarter lead. They left Texas Tech’s offense with an eternity of time — 89 seconds to be precise.  With spring football just around the corner, Harrell is tasked with revitalizing a dormant USC offense hamstrung by inexperience, a lack of discipline and nonsensical play-calling. That process will start with continuing to develop precocious quarterback JT Daniels, who was a true freshman last season.  Ten years later, Leach is now the head coach of Washington State and traces of his air-raid offense can be seen everywhere, from Texas high school football to the Kansas City Chiefs. And Harrell, who quarterbacked the Red Raiders to their biggest win in school history, is all grown up. He was hired as USC’s offensive coordinator after cutting his teeth in the same role at North Texas. At USC, he will attempt to replicate his accomplishments at Texas Tech with a program nowhere near the fringes.  Trevor Denton is a junior writing about sports. His column, “T-Time,” runs every other Wednesday. Stop me if you’ve heard this one before, but Daniels should have stayed in high school last season. It showed many times, like when he went 6-for-16 on pass attempts against Utah or when he tossed a pair of interceptions at UCLA.  And so, Texas Tech quarterback Graham Harrell went to work. An eight-yard completion. A five-yard checkdown. An 11-yard pass here. A 10-yard gain there. As methodical as Sherman’s March, the Red Raiders had driven deep into Longhorn territory with just eight seconds to go. Everyone in the stadium and their grandmas at home expected a heave into the end zone. Four-verticals is the foundation of head coach Mike Leach’s offense, after all. But where the rest zigged, the Red Raiders zagged.  It’s a fitting mantra from Harrell, whose fearless style of play at Texas Tech helped him shatter several NCAA records (he’s the Football Bowl Subdivision’s fourth all-time leader in pass yards). Plus, he helped develop one young quarterback into an elite passer at North Texas. Mason Fine led the Conference USA in pass yards in 2018, his third season in Harrell’s system.  In 2018, Amon-Ra St. Brown acted as Daniels’ security blanket — the freshman receiver led all Trojans with 60 receptions. When St. Brown was covered, Daniels ran into trouble. Take Daniels’ first quarter interception against Texas, for example. From the moment the ball is snapped, his eyes are locked onto St. Brown. When it’s obvious he’s coated by a defender, Daniels hesitates, then throws it in St. Brown’s direction anyways, gifting Texas cornerback Kris Boyd an interception. USC would lose that game 37-14.  When Texas Tech trailed by 1 point with 89 seconds left against Texas in 2008, Harrell didn’t think. He played within the air-raid philosophy that had become second nature. Now, it’s his job to help Daniels reach that point.center_img In a Los Angeles Times profile on air-raid offenses, former Texas Tech quarterback Sonny Combie said, “My whole time at Tech, we didn’t add new plays. We had 20 plays we ran really well.”  “Don’t think — play,” Harrell said of his philosophy at a press conference in Heritage Hall.  Texas Tech, the air-raid offense and Harrell had arrived. Leach’s schemes could no longer be considered gimmicky or only feasible for programs on the fringe. Not when those schemes had been instrumental in taking down the nation’s top team.  On 2nd-and-10 from the Texas 28-yard line, Harrell launched a pass to All-American receiver Michael Crabtree about five yards short of the end zone. Harrell’s trust in Crabtree was rewarded, and the receiver broke free from a pair of defenders, rumbling into the end zone. No. 7 Texas Tech secured an upset over No. 1 Texas. Fans overflowed onto AT&T Field when there was still one second left on the clock, a chaotic scene, fitting since the Red Raiders had just flipped the college football world on its head in more ways than one.  Since then, the system has evolved under Leach’s disciples, like Kliff Kingsbury and Harrell, to include more read-option and spread concepts. But, the fundamentals are the same: Send receivers deep on almost every play so the signal caller can either exploit one-on-one matchups deep or check down to the flat or middle of the field, where receivers have cleared out space.  This season, Daniels needs to get better at moving through his progressions and processing information quicker. Harrell’s offense could be a godsend in this regard. The air-raid offense is all about simplifying pass concepts and helping quarterbacks find receivers in man coverage.  Last season, USC’s plays were often too slow to develop, with Daniels faking one or two handoffs before throwing it to a receiver on a screen, for example. Plays like these will be largely eliminated under Harrell, with an emphasis on getting the ball out as quickly as possible. last_img read more

Mary Kom questions the fairness of AIBA tournaments

first_img 10 months ago Sourav Ganguly’s history in Indian cricket administration 10 months ago “Mary Kom is destined to win Tokyo Olympic gold”: Akhil Kumar WATCH US LIVE Video Player is loading.Play VideoPlayMuteCurrent Time 0:00Loaded: 0%Duration 0:00Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio TrackQuality LevelsFullscreenThis is a modal window. This video is restricted from playing on your current domain Error Code: PLAYER_ERR_DOMAIN_RESTRICTED 10 months ago Mary Kom leads India’s quadruple challenge in World Championship semis The effervescent MC Mary Kom had a smile on her face, but her deep anger and disappointment were showing through her words. Back in India after claiming her record 8th World championships medal this weekend, the Indian veteran pugilist made her feelings on her semifinal bout clear. Mary Kom lost the bout 1-4 to the second seed, Turkey’s Busenaz Cakiroglu in an intense 51kg semifinal, a decision she protested and so did the Indian camp. But the appeal was not allowed.  “I’m really unhappy about the decision. It was a wrong decision,” she said while speaking exclusively to Republic TV.On AIBA not allowing India’s appealWhen asked if she felt robbed off a chance to win a record 7th title, she agreed to add that, “They didn’t allow our appeal also which was a big loss for us. I could have gone further and won a bigger medal or even the championship.” Given her pedigree as the only woman boxer to win 6 World championships titles, it is not hard to imagine.  AIBA did not allow India’s appeal due to a technical rule that challenges can only be made if a scoreline is 3-1 or 3-2. India’s yellow card was thus not accepted by the technical committee.Read: “Mary Kom is destined to win Tokyo Olympic gold”: Akhil KumarMary Kom had even tweeted the video of the fight, tagging the sports minister Kiren Rijiju and Prime Minister’s office as well. ‘How and why. Let the world know how much right and wrong the decision is,’ Mary Kom had tweeted. “I can’t force the Ministry to do anything but I’m thinking that the AIBA (world boxing federation) is suspended. There must be something wrong inside. The Olympic qualification will not be officiated by the AIBA, then maybe we will get free and fair decisions,” said a dejected Mary. Read: Mary Kom leads India’s quadruple challenge in World Championship semisFirm focus on 2020 OlympicsMary Kom is spot on here as the International Olympic Committee had suspended AIBA over concerns about the body in the areas of finance, governance, ethics and refereeing and judging. The IOC has formed a task force to conduct the boxing event at the 2020 Games. The entire experience has been bittersweet for the 36-year old. Losing out in a bout, she thought she had clearly won marred, but only slightly, her glittering stint where she became the most successful boxer of all time at the premier event, adding another first to her name. But the mother of 3 was excited about the road ahead, focussed firmly on the 2020 Tokyo Olympics to add to her Bronze from 2012 London edition.Read: Indians or people of Indian-origin to have won the Nobel PrizeRead: Sourav Ganguly’s history in Indian cricket administration LIVE TV First Published: 15th October, 2019 23:58 IST Written By WE RECOMMENDcenter_img 10 months ago Indians or people of Indian-origin to have won the Nobel Prize Session ID: 2020-09-09:dd86908845168325f30be43 Player Element ID: video_player_5f584957e1b6a OK Close Modal DialogBeginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreen SUBSCRIBE TO US COMMENT 10 months ago Hair colour ideas to match Indian skin tones, top 3 hair colours FOLLOW US Last Updated: 16th October, 2019 00:06 IST Mary Kom Questions The Fairness Of AIBA Tournaments During an exclusive interview to Republic TV, MC Mary Kom expressed her disappointment and questioned the AIBA tournaments for not allowing India’s appeal. Shivani Gupta last_img read more

World Cup: FIFA President Proposes 48-team Tournament

first_imgOne of his election promises was to expand the World Cup to 40 teams.But his idea now is that 32 teams take part in a preliminary knockout round in the host country, with the winners joining 16 seeded teams in the group stages.“It means we continue with a normal World Cup for 32 teams, but 48 teams go to the party,” said Infantino, who replaced Sepp Blatter.“FIFA’s idea is to develop football in the whole world. The World Cup is the biggest event there is. It’s more than a competition, it’s a social event.”Meanwhile, FIFA has imposed sanctions on 11 football associations for unsporting and discriminatory conduct by their fans during 2018 World Cup qualifiers.Honduras, El Salvador, Mexico, Canada, Chile, Brazil, Argentina, Paraguay, Peru, Italy and Albania have all received fines.Chile has also been ordered to play its qualifier against Venezuela on March 28, 2017 behind closed doors.This is because it is its second infringement this year.In May, the Chileans were banned from playing at the Estadio Nacional Julio Martinez Pradanos in Santiago for two matches and fined 30,000 Swiss Francs (£24,004) as a result of homophobic chants from supporters, with the second suspension suspended for a year.Some of the recent incidents by fans of the 11 nations included homophobic chants.The fines range from 65,000 Swiss Francs (£52,009), given to Honduras for two cases, to the 20,000 Swiss Francs (£16,002) for Brazil and Canada.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram FIFA President, Gianni Infantino, has proposed expanding the World Cup finals to 48 teams – after initially suggesting he wanted to boost it to 40.According to the 46-year-old Italian, 16 countries would be eliminated after a preliminary knockout round.The rest of the tournament would then be the same as it is now, with 32 teams competing in the group stages, followed by further knockout rounds.Infantino said a decision on possible expansion would be taken in January.“These are ideas to find the best solution,” he said. “We will debate them this month and we will decide everything by 2017.”Infantino took charge of world football’s governing body in February.last_img read more

Dre Island Releases Debut Album “Now I Rise”

first_imgDespite heavily embracing the spirit of reggae and Rastafari, Dre Island tries to remain genre-agnostic, exploring his creativity and not allowing his art to be contained nor confined. His artist name Dre Island came when a friend of his used to refer to him in that way, as he says, “I researched the term and discovered that apart from the meaning we all know, a mass of land surrounded by water, there is another definition ‘an isolated place where you go to find yourself’ and in that perspective, it became a spiritual term to I and I: the place where Dre goes to be alone with Jah.” Themes of equal rights and justice, rebellion, love, faith, change, and comfort in the face of struggle abound in the interconnected songs on the 13-track album. Armed with life’s struggles and successes, tribulations, and victories, Dre Island’s musical journey is ready to be shared and leave its own legacy in the history of reggae music.  The album features “We Pray” along with collaborations with Jesse Royal and Chronixx. Now I Rise was released as a joint venture between Dre Island Music and the Kingston Hills Entertainment label, in partnership with New York-based DubShot Records. With the apt, poignant lyrics, “Through it all, we survive, Yet still hold the faith” in his hit single, “We Pray,” featuring Popcaan, multi-talented musician, Dre Island is a voice we can all stand to hear from now. The singer, deejay, songwriter, producer and pianist, recently released his debut album, Now I Rise. At the tender age of three, his father asked him what he wanted to do when he grows up, his answer was one word “Piano!” His grandmother nurtured his interest in music and encouraged him by bringing him to church to sing in the choir and take piano lessons.  With the experience garnered as a producer and unwavering support from family and friends, Dre Island made the transition to a recording artist, releasing his first single “Reggae Love,” in 2013. His first big performance took place around the same time at Rebel Salute, one of Jamaica’s largest music festivals, known for its focus on roots and conscious music. The local buzz, fueled by live acoustic performances posted on YouTube, garnered an international fan base that demanded more from the young artist. It wasn’t until several years later that Dre penned his first bonafide hit song “We Pray,” which has over 27 million views to date on Youtube. In 2018 he headlined Reggae Sumfest, the island’s largest international stage show.  By age 12, he was already adopting a rebellious spirit, sneaking out of the house at night to attend local stage shows. By the time he attended the elite Calabar High School, he started taking his craft more seriously.  Dre Island, born Andre Johnson May 2, 1988, hails from the Red Hills Road section of Kingston, known to be a rougher part of town where gunshots and crime are in abundance.  Once introduced to the studio, a young Dre observed keenly the ins and outs of every facet of the recording process, while developing a talent for production using his classical piano training. His professional journey working as a producer in some of Jamaica’s top recording studios led Dre to successfully complete projects and gain notoriety.  Through a steady stream of hit singles, Dre Island has captured the attention of fans from around the world who are drawn to his inescapable authenticity and stone-cherished voice. His superb musicianship and strong vocals have been shaking sound system speakers for many years now, and growing anticipation has paved the way for his debut album. For the past 5 years, Dre Island has built an organic following amongst reggae fans and his contemporaries. last_img read more

Liberia invite trio for Meteors clash

first_imgLiberia are intensifying their preparations for the first qualifying round to the 2015 Caf U-23 Championship against Ghana. There is no official communication on Liberia’s request to have the second leg game hosted in Ghana yet – an encounter scheduled for the weekend of May 8-10, 2015.The winner of the two-legged tie advances to face Congo then Nigeria in the second and third qualifying rounds respectively, after which the successful side gets to play in the eight-team Caf U-23 Championship in Senegal later in December.The top three teams from the competition will take up the African slots for the 2016 Summer Olympics to be staged in Rio de Janeiro, Brazil.– Somah, who now plays in Ivory Coast is not new to Ghana as he was an influential member of the Barrack Young Controllers (BYC) side who famously kicked Asante Kotoko out of the 2014 Caf Champions League. Head coach of Liberia’s U-23 team, Thomas Kojo, has handed invitations to three foreign-based players for the first leg tie confirmed for the Tamale Stadium on April 26. Meanwhile, their opponents, the Black Meteors, after securing an All-Africa Games have resumed camping in Tamale ahead of the April 26 clash. The Satellites plan to play a final test game against local side LPRC Oilers on Tuesday morning before flying out to Ghana the following day. Liberia’s Olympic team, the Satellites, have been training at the Antoinette Tubman Stadium in Monrovia and expect to be boosted by the arrival of attacking trio, Herron Scarla Berrian from Greek side Platanias Chania, Sporo Somah of Ivorian Coast’s Sewe Sport and U.S-based University of Mt. Olive’s Cooper Gaypia.last_img read more

Small business lending program reaches $349 billion limit

first_imgThe government’s paycheck protection loan program for small businesses is on hold after reaching its limit.The Small Business Administration (SBA) announced Thursday that it reached the $349 billion lending limit for the program.The program was meant to help small businesses during the coronavirus crisis.Those whose loans have not yet been processed must wait for Congress to approve a Trump administration request for another $250 billion for the program.Lawmakers are working on figuring out what to do next.On Wednesday the SBA released a statement:Today, U.S. Treasury Secretary Steven T. Mnuchin and U.S. Small Business Administration Administrator Jovita Carranza issued the following statement regarding the Paycheck Protection Program and Economic Injury Disaster Loan Program:“The SBA has processed more than 14 years’ worth of loans in less than 14 days.  The Paycheck Protection Program is saving millions of jobs and helping America’s small businesses make it through this challenging time.  The EIDL program is also providing much-needed relief to people and businesses.“By law, the SBA will not be able to issue new loan approvals once the programs experience a lapse in appropriations. “We urge Congress to appropriate additional funds for the Paycheck Protection Program—a critical and overwhelmingly bipartisan program—at which point we will once again be able to process loan applications, issue loan numbers, and protect millions more paychecks.“The high demand we have seen underscores the need for hardworking Americans to have access to relief as soon as possible.  We want every eligible small business to participate and get the resources they need.”last_img read more