​IORP rapporteur rewrites own draft on cross-border pension funds

first_imgBrian Hayes has tabled amendments to his own report on the IORP Directive, seemingly in an attempt to remove the risk of scheme mergers or accrual changes triggering full-funding requirements.The Irish MEP, IORP rapporteur for the Economic and Monetary Affairs Committee (ECON), in July proposed a number of changes to the legislation to lift the burden of full funding imposed on cross-border funds.In his initial report, the MEP suggested a scheme be required to meet technical funding provisions when it started operating “a new or an additional scheme”, raising concerns within the industry that changes to a fund’s accrual or contribution rates could be viewed as the launch of a new scheme.Hayes, a member of the European People’s Party, has now attempted to clarify his intention, amending the text to state that the merger of “two or more existing schemes or an addition of a new section to a scheme” should not be regarded as an additional scheme. His amendment, dated 5 October, is in stark contrast with one tabled by Bas Eickhout, a Dutch MEP and member of the Greens, who amended the European Commission’s draft Directive to state that assets fully cover liabilities “at all times and under suitably prudent assumptions of future returns on assets in order to protect the interests of members”.Sophia in ’t Veld, Dutch shadow IORP rapporteur and member of ECON, proposed removing much of the Commission’s involvement in cross-border regulation, instead proposing an exchange of best practice between national regulators to “stimulate” cross-boarder pensions.In a likely victory for the UK’s ShareAction and Eurosif, Anneliese Dodds, a UK member of the Socialists and Democrats, sought to reinsert a focus on environmental risk management, arguing that any risk assessment should look at “environmental, social and governance” matters.The Commission initially proposed such a focus, but it was removed by member states during negotiations in late 2014.Eurosif and ShareAction spoke with MEPs earlier this year, arguing that pension funds should be required to look at all three areas.Eickhout also tabled an amendment suggesting funds should not see stranded assets as part of a long-term strategy, and should have “effective mechanisms” for mitigating risks.,WebsitesWe are not responsible for the content of external sitesProposed amendments to Brian Hayes report on IORP Directivelast_img read more

Colorado Avalanche’s Nazem Kadri takes exception to big hit on teammate; Rangers’ Ryan Lindgren will not face suspension

first_img“There’s no call. We have to take care of ourselves,” he said.Lindgren had a hearing with the NHL’s department of player safety Wednesday to determine whether he would receive supplemental punishent for the hit; in an unusual move, the department chose not to hand out any additional punishment.(2/2) While there was significant head contact on this play, Lindgren took a proper angle of approach, did not extend outward or upward and hit through Donskoi’s core. Therefore, under Rule 48.1 (i), the head contact was determined to be unavoidable.— NHL Player Safety (@NHLPlayerSafety) January 8, 2020Kadri finished the game a minus-one, with 14 minutes and 39 seconds of ice time. The Rangers won Tuesday’s contest, 5-3, at Madison Square Garden. With just under four minutes to play in the first period, Lindgren leveled Colorado’s Joonas Donskoi after Donskoi had dumped the puck into his attacking zone at the red line. He appeared to make contact with Donskoi’s head and sent the forward to the ice, injured. When the on-ice officials did not call a penalty on the play, Kadri tracked down Lindgren and challenged him to a fight.Ryan Lindgren takes a shot on Joonas Donskoi and Nazim Kadri has something to say about it. #GoAvsGo pic.twitter.com/PBbzQ0PaPV— Michael Spencer (@MichaelCBS4) January 8, 2020Kadri threw at least a dozen punches during the fairly one-sided bout and bloodied Lindgren before the linesmen pulled the two apart. The veteran Avalanche center added 17 penalty minutes to his team-leading total (which now stands at 77) for his actions on the play which included a two-minute minor for instigating, a five-minute major for fighting and a 10-minute game misconduct for instigating as well.As for Donskoi, he did not return to the game after Lindgren’s hit and Avalanche coach Jared Bednar had no update on his status when the game ended. Similarly, Lindgren did not return to the game after his fight with Kadri; the Rangers listed him as out with an upper-body injury.Bednar criticized the referees’ decision not to call a penalty on Lindgren’s initial hit that sparked the whole incident. Colorado Avalanche forward Nazem Kadri took justice into his own hands Tuesday when New York Rangers defenseman Ryan Lindgren laid a controversial hit on Kadri’s teammate.MORE: Justin Williams officially returns to Carolina Hurricaneslast_img read more

Vessel with 95kg cocaine nabbed in Pomeroon River

first_imgTwo men were taken into custody by ranks of the Customs Anti-Narcotic Unit (CANU) following the discovery of more than 95 kilograms of cocaine in a vessel that was intercepted along the Pomeroon River on Monday.Based on reports received, the vessel was stopped and searched by members ofThe cocaine that was intercepted in the vessel along the Pomeroon Riverthe Guyana Defence Force (GDF) Coast Guard and it was during that operation that several well wrapped packages were unearthed and upon checking, the illegal substance detected.The men and the suspected cocaine were transported to CANU’s headquarters as investigations continue. According to a release issued by the drug enforcement unit, the men are being interrogated and charges are likely to be instituted shortly.However, it is not clear if the vessel is owned by Guyanese or originated from neighbouring Venezuela, since the information provided by CANU was limited.Earlier in the year, a vessel was discovered in Guyana suspected to have been carrying cocaine but was allegedly released.However, one month after its release, President David Granger ordered that a Commission of Inquiry (CoI) be launched to determine the role played by the Customs Anti-Narcotics Unit (CANU) and the GDF Coast Guard in the detention and release of the vessel.The findings of the CoI were later handed over to Minister of State Joseph Harmon by Chairman, Brigadier (Retired) Bruce Lovell.Brigadier Lovell, in an invited comment, stated that inquiries are important particularly in matters of national interest.The report that was presented, he noted, will assist Guyana in making some important decisions in the security architecture of this country and that it will assist in making decisions, particularly as it relates to the fight against narcotics trafficking.“Inquiries do what any good journalist would do and that is to answer the Five W’s and the one H; the Who, the What, the Where, the Why and the When and it also goes a bit further and seeks to recommend what should be done to prevent any further occurrence,” he noted.He further noted that in the recommendations, the Committee looked at a number of systematic issues, doctrine, organisation, training, leadership, personnel, facilities and, of course, policies.The other members of the Commission were former Assistant Commissioner of Police, Winston Cosbert and Christine Bailey.Meanwhile, at the commencement of the CoI, Head of the Customs Anti-Narcotics Unit, James Singh was asked to proceed on annual leave and Major General Retired, Michael Artherly assumed the post at the helm of the Unit.Singh however, was subsequently relieved of his duties as the head drug enforcement body. It is believed that based on the findings during the COI, recommendations were made for him to be relived from his post.last_img read more

Raiders’ Johnathan Abram out for the season with shoulder injury

first_imgALAMEDA — The rookie season of safety Johnathan Abram is over after just one game.Abram was placed on injured reserve Wednesday with a shoulder injury sustained in the Raiders’ season opening win over the Denver Broncos. He will require surgery for a torn rotator cuff and labrum, and although eligible to return to the roster, coach Jon Gruden expects him to miss the entire season.“It’s a big loss,” Gruden said. “No question it’s a big loss. Fortunately for us we kept five safeties, five …last_img

GMSA wins R6bn US export contract

first_img2 July 2013 General Motors South Africa (GMSA) and component manufacturer Tenneco South Africa have been awarded a R6-billion contract to export catalytic converters for GM’s next-generation V-6 engines to the United States. The converters will be manufactured at Tenneco’s clean air plant in Port Elizabeth in the Eastern Cape and will be used for vehicles sold in the US from 2015 to 2022. GMSA and Tenneco have been in partnership for over 12 years to produce catalytic converters for the US market, and current export levels are 2.6-million converters per year for use on 17% of all vehicles manufactured by General Motors around the world.‘Supporting strategic export growth’ “The decision to award this contract to South Africa is a great show of support by our parent company, as it comes ahead of a clear legislative framework by the South African government to support the strategic growth of exports,” GM Africa’s managing director, Mario Spangenberg, said in a statement last week. The programme will provide a boost for the Eastern Cape economy as it will create employment in manufacturing, supply and support services. The country’s mining sector will also benefit from the programme with a projected need for 10 tonnes of platinum group metals over the duration of the project. “Supplier operations in South Africa are competing with other operations around the globe. In order to attract business, suppliers need to be globally competitive in the critical areas of both cost and productivity,” said GM’s international operations vice- president for global purchasing, Johnny Saldanha. “A key characteristic of vehicle manufacturing is that we often have to plan as far as five years in advance for the next vehicle programmes. “Tenneco and General Motors have long and proud associations in South Africa spanning many years. We are delighted to have been selected by GM for this critically important programme,” said Tenneco country manager, Gary Keen. SAinfo reporterlast_img read more

Gasol, Grizzlies build big lead, hang on to beat Warriors

first_imgMarc Gasol of the Memphis Grizzlies shoots over Klay Thompson of the Golden State Warriors. APMEMPHIS, Tenn. — Marc Gasol had 34 points and 14 rebounds, and the Memphis Grizzlies built a 19-point third-quarter lead over Golden State before holding on to beat the defending champion Warriors 111-101 on Saturday night.James Ennis III added 13 points, and Tyreke Evans scored 12 as Memphis shot 47 percent compared to 39 percent for Golden State. The Warriors shot 12 of 38 from 3-point range.ADVERTISEMENT Stephen Curry led the Warriors with 37 points, and Kevin Durant added 29 and 13 rebounds. But both were ejected with 43.6 seconds left after arguing with officials — Curry first after throwing his mouthpiece, and then Durant as he followed Curry’s argument.Klay Thompson finished with 14 points on 5 of 16 shooting, including 2 of 8 from outside the arc.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutThe Warriors trailed by 19 late in the third quarter and Curry was saddled with five fouls. Consecutive 3-pointers from Durant and an unintended tip-in by the Grizzlies, credited to David West, cut the deficit to single digits with just under 9 minutes left.But Golden State never got close enough to catch the Grizzlies down the stretch. The major burst for Memphis came early in the third quarter. The Grizzlies turned up their defense, forcing a trio of turnovers and scoring 15 straight points to stretch the lead to 18.The Warriors connected on only 6 of 22 shots in the third, while Memphis went 10 of 18.TIP-INSWarriors: The game was the only regular-season trip to Memphis for Golden State as the teams face each other three times this season — the other two games at Oracle Arena. … Draymond Green played in his 400th career game. … Thompson made a 3-pointer in the first quarter, marking his 57th straight game connecting from outside the arc.Grizzlies: F JaMychal Green, who started but was injured early in the opener, did not dress. Jarrell Martin started in his place. … Memphis defeated Golden State twice last season, one of only two teams to hang two losses on the eventual NBA champions. San Antonio also defeated the Warriors twice. … The Grizzlies hold a 13-10 advantage over the Warriors since 2011-12.UP NEXTWARRIORS: Wrap up a three-game trip in Dallas on Monday with a game against the Mavericks.GRIZZLIES: Start a two-game Texas road swing at Houston on Monday. They face the Mavericks on Wednesday.ADVERTISEMENT Read Next Kin of Misamis Oriental hero cop to get death benefits, award — PNP CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Streak over: Magic end 17-game skid to Cavs Japan ex-PM Nakasone who boosted ties with US dies at 101 Stronger peso trims PH debt value to P7.9 trillion MOST READcenter_img Typhoon Kammuri accelerates, gains strength en route to PH QC cops nab robbery gang leader, cohort Brace for potentially devastating typhoon approaching PH – NDRRMC Kammuri turning to super typhoon less likely but possible — Pagasa View comments Kevin Durant out with Achilles injury; to undergo MRI on Tuesday PLAY LIST 03:12Kevin Durant out with Achilles injury; to undergo MRI on Tuesday01:43Who are Filipinos rooting for in the NBA Finals?02:25Raptors or Warriors? PBA players take their pick of NBA champ01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Don’t miss out on the latest news and information. LATEST STORIESlast_img read more

Video: Urban Meyer Wants To Talk, Mike Mayock Is Having None Of It

first_imgUrban Meyer tries to talk but Mike Mayock stops him.Urban MayockUrban Meyer is part of the NFL Network’s draft coverage this evening. After the Dallas Cowboys took Notre Dame linebacker Jaylon Smith early in the second round, it was brought up that Smith’s brother, Rod, is on the Cowboys. Rod Smith also played at Ohio State for Meyer before getting dismissed in 2014. Meyer apparently wanted to talk about that fact tonight, but NFL Network expert Mike Mayock wouldn’t let him get a word in. Watch Meyer point to himself as if he’s saying, “can I talk?” It’s pretty funny. Urban trying to get in to talk about Jaylon Smith’s brother Rod (former Buckeye) and Mike Mayock having none of it pic.twitter.com/a9YGIofjY5— Lloyd Ribner III (@LloydRibner) April 29, 2016The NFL Draft is currently airing on both ESPN and the NFL Network.last_img read more

Number of coaches and wrestlers defend Jim Jordan

Richard Strauss, a former wrestling team physician and an assistant professor of medicine, is being investigated by Ohio State on allegations of sexual misconduct. Credit: Lantern file photoAfter accusations last week that Ohio Rep. Jim Jordan was aware of and kept quiet about alleged abuse by former Ohio State team doctor Richard Strauss, many players and coaches have come forward to defend the former assistant wrestling coach.The statements defending Jordan began Monday with a joint statement by six former coaches, including former Ohio State wrestling head coach Russ Hellickson. The defense of Jordan continued with a joint statement by 15 wrestlers on Tuesday and two more on Wednesday.“I am frankly pissed off at what they are doing to Jim Jordan. This is hysteria and politics running the narrative,” Hellickson told The Hill earlier this week. “If they are attacking him, why aren’t they attacking the 30 or 40 other coaches at OSU?”Statements being sent out defending Jordan have been put out through the public relations firm Shirley and Bannister, a conservative firm based out of Alexandria, Virginia. The wrestlers that defended Jordan on Tuesday said the alleged abuse was not as widespread as it is being made to seem, with one telling the Associated Press he knew nothing of any alleged abuse until claims arose this year.Following the joint statement on Tuesday, two more wrestlers spoke to CNN in defense of Jordan.One of the wrestlers, George Pardos, told CNN he had many interactions with Strauss and never experienced any attempted abuse.“If you’re sitting there saying everybody had the same experience with Dr. Strauss, that’s just not true,” Pardos said. “People are trying to assume this was a widespread problem.” read more

Last remaining skating rink in City of San Diego fights for survival

first_imgLast remaining skating rink in City of San Diego fights for survival March 11, 2019 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI) – They were ready for stand and be counted. Ready to fight City Hall with all they have. But then, City Hall backed off, at least for now.“The City council cancelled the meeting to approve the sale so the rally has been postponed as well”, says Brett Stang, owner of the only Skating rink left in the City of San Diego.Skateworld has been around for 45-years, generations of families have lifetime memories. It appears the city’s need for another ‘big box’ store is more important than a local landmark, and something seems fishy.City Council member Scott Sherman says it was simply a matter of “highest bid”. “They were part of the bidding process and we took the highest bid, they were not the highest bid”, says Sherman.But that might not be the case. The owners of Skateworld say they offered more than five million dollars for the land, it’s not worth nearly that much. But they also says they would have gone higher, if given the chance. They were not given the chance. “Skateworld and it’s investors were willing to go higher, we are still willing to go higher, but it stopped. It just stopped”, says Stang.KUSI has requested information about ‘why’ the council meeting was ‘suddenly cancelled”. The office of Georgette Gomez says the information is on the way.As for Civic San Diego, crickets. No answer, no response, no interest. Civic San Diego is the group created by the Mayor to sell off “taxpayer property”, otherwise called ‘City Land”. Since they conduct their business in the dark, we have requested some light. KUSI has filed a “Freedom of Information Request” to get the records and the various bids.Skateland is not just a revenue stream, it’s a pivotal part of that community. The only family entertainment within miles.So here we go again. It’s the Big Box versus the Little Guy. If the little guy ends up losing, we all want to know why. Posted: March 11, 2019 Dan Plante, Categories: Local San Diego News FacebookTwitter Dan Plante last_img read more