UK watchdog aiming to push guidance agenda, assert position in Europe

first_imgThe UK Pensions Regulator (TPR) has set out its vision for a changing regulatory landscape, voicing its determination to assert its influence at the European level.The watchdog also confirmed it would publish new guidance on defined benefit (DB) and defined contribution (DC) pension funds early next year, after 2014 saw significant changes to both approaches.TPR’s new chairman, Mark Boyle, who took the reins earlier this year, said once the UK government provided details on announced DC reforms, the regulator would work quickly to publish guidance for trustees.Speaking at the National Association of Pension Funds (NAPF) Annual Conference in Liverpool, Boyle said the regulator was working with the government and other regulatory bodies to facilitate the reform. Earlier in the conference, the government was criticised over a lack of clarity on what the reforms meant for the industry despite a fast-approaching deadline.“What this means in practice is providing the government with an idea of what the implementation of these policies might look like from a regulatory perspective,” Boyle said.“I am acutely aware of the amount of change the industry is dealing with. For our part, we will be providing guidance to trustees in the new year to help trustees once the detail of the new provisions is certain.”In the interim, the regulator will continue to work off its existing DC Code of Practice, unveiled only last year.Boyle also said TPR would be working to ensure changes in the DB landscape translated into meaningful regulation, particularly around its new Funding Code finalised in June.“The new code strengthens what schemes are already doing,” he said. “We are aware some schemes take inappropriate risk while some take too little.“Our case teams have undergone extensive training so the Code and its principles are translated into consistent working practices.”Regarding the IORP II Directive’s effect on UK pension schemes, Boyle said it was much too early to assess any potential impact, but he did say TPR would work with the government to support any negotiation decisions.“As an active member of European Insurance and Occupational Pensions Authority (EIOPA), we should be in a position to provide direct input and technical expertise reflective of the UK pensions regime,” he said.However, on the holistic balance sheet consultation launched on Monday, Boyle was more determined about the UK’s involvement in discussions.“We want to work as closely with EIOPA as we can and sitting round the table when these issues are being discussed,” he said.“We want to know where these ideas are coming from and their implications on UK pension schemes.”last_img read more

Merkel urges tougher rules to end sky-high transfers

first_imgEuropean football’s governing body UEFA last week opened an investigation into PSG’s spending.Under UEFA’s Financial Fair Play rules, a club cannot make an annual loss of more than 30 million euros.In PSG’s case, it would therefore have to find ways to balance the books following the massive acquisition.These could include selling some players from its squad as well as hope for a big jump in revenues including from sponsoring, merchandising, ticket sales and TV rights.Share on: WhatsApp Chancellor Angela MerkelBerlin, Germany | AFP | German Chancellor Angela Merkel Friday urged football governing bodies UEFA and FIFA to tighten rules governing transfers and stamp out spiralling record spending on players.“I view the financial developments in professional football as critically as many people,” she told Mittelbayerische Zeitung daily.“Such sums are comprehensible to no one. UEFA and FIFA should readjust the rules on player transfers to ensure greater balance. Otherwise, the transfer fees threaten to rise further,” she said.Flushed with cash from television broadcast rights, Europe’s top flight clubs have spent record sums on player transfers.Paris Saint Germain smashed the world transfer record by paying Barcelona 222 million euros ($263.5 million) for Neymar, sparking controversy over the purchase.last_img read more

Virat Kohli dethroned from the top spot in the latest ICC Test rankings

first_imgAdvertisement o0yrNBA Finals | Brooklyn Vsj19Wingsuit rodeo📽Sindre E2p5q0( IG: @_aubreyfisher @imraino ) 9477iWould you ever consider trying this?😱vej2Can your students do this? 🌚bcjeRoller skating! Powered by Firework Indian skipper Virat Kohli has been removed from the top spot in the latest ICC Test batsmen Rankings by Australian Steve Smith. The Aussie missed the third Ashes Test at Headingley, and leads the chart in the new rankings announced on Tuesday. The 32-year-old now has a chance to extend to guarantee that lead in the fourth Test, starting Wednesday at the Old Trafford in Manchester.Advertisement On the other hand, India vice-captain Ajinkya Rahane returned to the top-10, climbing four places up to 7th spot, after his half-century and hundred in Antigua with another half-century in Jamaica. His compatriot Indian Hanuma Vihari, the top scorer of the two-match series against the West Indies, has gone 40 places up and is now on 30th spot after just six Tests. Kohli, who played a vital 76 in the first innings of the second Test, got dismissed by Kemar Roach in the second innings for a golden duck finally lost his place after a long while at the top.Advertisement Virat Kohli overtook Smith on the charts after August 2018, when the former Australian skipper was serving a ban for his role in the ball-tampering scandal. The Australian right hander has since fought his way back up in the list in his first series after the ban, scoring two centuries in the first Test against England and crucial 92 in the second.However, Kohli has a chance to overtake Smith in the home Test series against South Africa, starting on October 2 in Visakhapatnam.Advertisement   Advertisementlast_img read more

Bombers ready for playoffs with solid showing in Castlegar

first_imgSaturday the Bombers edged Mount Boucherie on a goal by Abbie Bouchier-Willans.Jena Wheeldon was in goal for the Bombers.The Bomber concluded play with a nail-biter against the Hawks.The team was missing four key players.But Gibson was impressed at how the others players stepped up to fill in.“Hailee Gerun was the player of the game, playing with heart, skill and poise after spending the morning fitness testing with the White Caps High Performance Soccer Program in Nelson,” Gibson said.Quinn scored the lone goal for LVR from Sydney Ednie and Tara Yowek.LVR now awaits the winner of Tuesday’s semi final between Stanley Humphries and J. Lloyd Crowe in the West Kootenay Championship game Thursday at Pass Creek.A win advances LVR into the BC High School Girl’s Fieldhockey tournament November 6-8 in Oliver.A loss and LVR must play a wild card game to advance to the provincial tournament October 28 in Kelowna against Fraser Valley #2. The L.V. Rogers Bombers tuned up for the playoffs by going 3-0-1 during the West Kootenay Girl’s Fieldhockey Tournament Saturday at Pass Creek Park in Castlegar.LVR defeated Stanley Humphries Rockers of Castlegar (4-0), South Okanagan of Oliver (2-0) and West Kelowna’s Mount Boucherie (1-0) before playing rival J. Lloyd Crowe Hawks to a 1-1 tie.“The team is maturing this year and is now able to relax in pressure situations and make good decisions and self-less passes to ensure the best result for the whole team,” said Bomber coach Val Gibson.LVR opened the tournament Friday with wins over Stanley Humphries and South Okanagan.Jena Wheeldon scored twice with Allie Zondervan and Lauren Walgren adding singles in the opener.Against South Okanagan, Grade 9 players Hanna Quinn and Julia Burkart scored LVR.last_img read more

GOLDEN PICK 6 JACKPOT TO BEGIN AT $453K ON FRIDAY; TWO TICKETS CASH FOR $53K ON SUNDAY

first_imgClosing day for the Winter/Spring Meet is June 12. The jackpot – which has grown steadily over 33 consecutive race days – is paid only when there is one ticket with all six winners. There were two winning tickets on Sunday, April 24, which returned $53,276.78. A total of $199,449 in new money was bet into the pool. There is also a Super High 5 carryover of $3,696.95 going into Friday’s card. Golden Gate Fields will not conduct live racing on Wednesday or Thursday but will be open for simulcasting. Golden Gate Fields will finish its inaugural Turf Festival with a flourish as it will conduct the Grade 3, $100,000 San Francisco Mile on Saturday, April 30 and the $100,000 Silky Sullivan and $100,000 Campanile on Sunday, May 1. ALBANY, CALIF. – The jackpot on the Golden Pick 6 will begin at $453,398.07 when racing resumes Friday, April 29 at Golden Gate Fields. Friday’s Golden Pick 6 will begin with race 3. The average field size in the sequence is 7.83 horses before scratches.last_img read more

U of Minnesota Preps Its Solar Decathlon Entry

first_imgThis is crunch time for the 20 academic teams participating in the 2009 Solar Decathlon, scheduled for October 8-18 in Washington, D.C.Actually, to be fair, there is a trial-by-fire urgency to the entire two years of planning and preparation that Decathlon contestants put into their solar-powered demo homes. It’s just that, with less than three months to go, this is when the wrinkles in each project – from performance problems to assembly and disassembly snafus – really must be ironed out. A story recently posted by the Minnesota Daily, a publication of the University of Minnesota, describes a few of the pressures facing members of the team representing the school, which is making its Decathlon debut.The team’s student project manager, Shengyin Xu , a third-year architecture and sustainable design graduate student, said the team consists of 13 specially focused subgroups, most of which are swarming the construction site where the school’s Decathlon entry, ICON House, is being built. Xu is there much of the time too. Beginning August 14, the building is scheduled to open for public display and the team can practice showcasing its features.Getting ready for the big rideConstruction manager Craig Hohensee told the Daily that the long summer days allow more work to get done – assuming enough workers show up. “In the summer,” he said, “the biggest difficulty is getting a consistent supply of labor.”The current workload is “grueling,” Hohensee said, noting that his crew sometimes labors until 9 or 10 p.m.When the time comes to transport the 799-sq.-ft. ICON House to Washington, it will be broken into three base pieces and three roof pieces, which will be shipped on three flatbeds, each carrying roof-and-base pair. A fourth flatbed will carry odd parts, and two other trucks will carry furniture and building equipment.The team’s budget for the project: $1 million, including the $100,000 the school received from the Decathlon’s sponsor, the Department of Energy, when it accepted ICON House into the competition.Emphasizing sustainabilityICON House, whose name derives from the iconic look of the gabled-roof homes common to Minnesota, features a state-of-the-art solar power installation and a passive-solar design to maximize energy efficiency in ways that specifically address Minnesota’s seasonal weather and daylight patterns. The windows on the building’s south-facing walls, which have the most exposure to the winter sun, are triple-paned, argon-filled, and low-E, whereas those on the recessed east wall are equipped with louvers and electrochromic tinting to reduce direct solar heat gain during the summer.On the ICON House website, the team also emphasizes that it took particular care to analyze all the life-cycle data available for the materials that were considered for use in the project.“Our particular team thinks about our house and its components in terms of nutrients,” the team explains. “Using (life-cycle analysis) tools, we can determine how many resources a particular component uses during its lifetime. In selecting materials, we want the embodied resources and energy to be utilized sustainably. Products that have the potential to be biological nutrients can be easily removed from the house and biodegraded and returned to the environment. Products and materials that cannot be returned to the environment should be returned to a closed-loop system of manufacturing” so that they may be reused or recycled and maintain their value.last_img read more

Rift threatens to affect opening

first_imgLOS ANGELES—With the rift between two factions in the Philippine Basketball Association’s board of governors far from over, several team representatives admitted on Saturday that the issue could drag on and ultimately affect the opening of the 43rd season.“We’re bracing for the worst,” one board member, who spoke on condition of anonymity, said after both parties agreed to a ceasefire last week.ADVERTISEMENT John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding Brace for potentially devastating typhoon approaching PH – NDRRMC Japan ex-PM Nakasone who boosted ties with US dies at 101 Read Next The seven-team side had appointed an officer-in-charge in long time PBA operations manager Rickie Santos, supposedly to assure that the league would run even without a commissioner.Three teams—TNT KaTropa, Phoenix Petroleum and Rain or Shine—don’t have representatives here, showing how divided this board has become on the issue.A fourth squad, NLEX, whose representative is the incoming chair, has also been rumored to be skipping the trip.Ramoncito Fernandez, the NLEX board member, is scheduled to arrive on Nov. 14.Even if the league opens at a later date, the format for the next season remains, with the Philippine Cup to be the first of three conferences.ADVERTISEMENT Don’t miss out on the latest news and information. Kammuri turning to super typhoon less likely but possible — Pagasa Shin wins Masters; Tabuena lands 3rd QC cops nab robbery gang leader, cohortcenter_img Typhoon Kammuri accelerates, gains strength en route to PH MOST READ Stronger peso trims PH debt value to P7.9 trillion LATEST STORIES The first of what was supposed to be four days of planning sessions has turned into a vacation here.“I’m sure the others (fellow board members know that), but we are fighting for our principles here,” the Inquirer source went on.“We also know that the sooner this issue is resolved, the better for the league. But how do we resolve it?”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 shutoutTwo weeks ago, a seven-team group has called for the resignation of Chito Narvasa as commissioner, while a five-team side threw its full support behind Narvasa, creating a standstill with the next season slated to open on Dec. 17.The board member further said that his team will change its decision on whose side it will be on. But because of the ceasefire, the board member also requested not to print which side his team is on. CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Trending Articles PLAY LIST 00:50Trending Articles02:11’Not just basketball’: Circumcisions, pageants at Philippine courts00:50Trending Articles01:37Protesters 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 View commentslast_img read more

World T20: Coach Duncan Fletcher’s silence prove detrimental for Team India

first_imgOf the India squad that won the ODI World Cup last year, 10 members were present in the touring party in Colombo for the World Twenty20.But the performances that delivered the most coveted trophy in cricket to India seem to have gone missing for the most part.Over the last 18 months of repeated failures in England, Australia, the Asia Cup in Bangladesh and now the World T20, one factor that hasn’t been questioned enough is the contribution of coach Duncan Fletcher to the team’s cause.Fletcher has been unable to rectify Gautam Gambhir’s inside-edge problems.It’s hard to replace a coach like Gary Kirsten – who could lead by example, given that he was a splendid opening batsman for South Africa. But Fletcher was his coaching guru, came heavily recommended as a strategist and his track record included being at the helm of the England team in 2005 for perhaps the most surprising Ashes series result since Ian Botham’s heroics in 1981.Fletcher was a burly all-rounder who captained Zimbabwe in the 1983 World Cup, and went on to become well known for his acumen not just in terms of technique, but in terms of planning.But so far in his tenure, there has been no evidence of his wizardry in any sphere, barring Virat Kohli’s golden run with the bat, to which a lot of other factors, including the batsman’s own hard work, have contributed.Fletcher has been unable to rectify Gautam Gambhir’s inside-edge problems, to rein in Virender Sehwag’s attacking instincts for the team’s good, or to help Rohit Sharma realise his talent.Dhoni’s four-bowlers-today, five-bowlers-tomorrow, four-bowlers the-day-after statements during the World T20 seemed to confuse his own team more than it did opponents.On the strategy front, India have been strangely bull-headed about team selection in Tests, and inconsistent in limited-overs cricket.Dhoni’s four-bowlers-today, fivebowlers-tomorrow, four-bowlersthe-day-after statements during the World T20 seemed to confuse his own team more than it did opponents.Coming to the bowlers, it is no secret that India keep switching around their limited resources and hope for the best. Even Dhoni has admitted as much.Joe Dawes, India’s bowling coach from Queensland, can rarely be seen talking to his wards at net sessions. Instead, he walks around the ground watching the batsmen, and giving them throwdowns.Performance reviews aren’t something the Indian cricket board seems to believe in, but if the coaching staff doesn’t come under the scanner even now, the future, especially on trips outside India, seems to be bleak.advertisementlast_img read more

a month agoREVEALED: The Liverpool player at heart of potential Carabao Cup expulsion

first_imgAbout the authorPaul VegasShare the loveHave your say REVEALED: The Liverpool player at heart of potential Carabao Cup expulsionby Paul Vegasa month agoSend to a friendShare the loveLiverpool midfielder Pedro Chirivella is the player at the centre of an EFL investigation that could see the Reds kicked out of the Carabao Cup, it has been claimed.The 22-year-old did not have the necessary international clearance to feature in Wednesday’s 2-0 win at MK Dons, in which he came on as a substitute for Naby Keita in the 63rd minute, says the Mirror.The 22-year-old signed for the Reds’ academy from Valencia in 2013, and made his debut for the club in a 1-1 Europa League draw with Bordeaux in September 2015, when Brendan Rodgers was still the Reds’ manager.But Wednesday’s appearance off the bench was his first outing for Liverpool’s first-team since a 3-1 defeat at Swansea in May 2016.Since then he’s been on loan spells to Dutch sides Go Ahead Eagles and Willem II, as well as Extremadura in Spain in January last year.However Chirivella ran into registration problems with the latter, and failed to make an appearance for the Segunda Division side before returning to Liverpool .It is thought that he then needed fresh international clearance to feature for his parent club upon his return, with Liverpool having made an application on his behalf in July.The Reds feel that the failure to register him is an administrative error from the FA, and are confident that they won’t face expulsion from the Carabao Cup. read more

5 whales dead after mass stranding on Maui beach

first_imgHonolulu: Five whales died, including four that were euthanised, after a mass stranding Thursday on a beach on the Hawaii island of Maui. Ten melon-headed whales were found stranded alive early in the morning on Sugar Beach in the coastal resort community of Kihei. Hours later, a whale calf believed to belong to the same social group was found dead on the beach about a mile to the north, said David Schofield, the regional marine mammal response coordinator for the National Oceanic and Atmospheric Administration. Also Read – Saudi Crown Prince ‘snubbed’ Pak PM, recalled jet from USNOAA veterinarians determined four of the whales were in grave condition and nothing more could be done to save them, Jeffrey Walters, NOAA’s wildlife management and conservation branch, said in a statement. The animals were made comfortable with a sedative and then humanely euthanized to relieve their suffering, he said. The remaining six whales were refloated to the ocean but stranded again, Schofield said. NOAA initially said the prognosis for two of the six wasn’t good, but they eventually made it out to deeper water. Also Read – Record number of 35 candidates in fray for SL Presidential pollsWalters said NOAA and University of Hawaii scientists will examine the whales to determine what caused the stranding. Kealoha Pisciotta, a Native Hawaiian cultural practitioner, objected to the euthanizing of the whales, animals she said are a manifestation of the sea god Kanaloa. She and others wanted to hold up the whales in the water so they could recover and swim away or die dignified deaths. But she said NOAA officials wouldn’t let them near the whales. “All we’re seeking to do is have a relationship with our Kanaloa,” she said.last_img read more