Recovery position

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Bouncing back

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Qatar makes London debut with £160m City office buy

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Got masks? China orders three months’ supply of Indonesian face masks amid coronavirus outbreak

first_imgCoordinating Economic Minister Airlangga Hartarto said that China has placed large orders for Indonesian-made masks in an effort to stop the spread of a coronavirus within the country.“All mask production has been ‘locked’ by China,” he said during a seminar on Monday, adding that as much as three months’ worth of mask production had been ordered by the East Asian country.Read also: [UPDATED] Suspected Wuhan coronavirus in Indonesia: What we know so far The senior minister said that producers should stock up to meet domestic demand to make sure that Indonesians have access to masks.The 2019-nCoV virus was first detected on Dec. 31 in Wuhan, China and spread to other countries earlier this year. The new strain of virus had killed 426, all but one in China, and had infected more than 20,000 globally as of Tuesday morning.Airlangga said airlines and tourism were among the first sectors affected by the outbreak as people canceled their travel plans. “The continuation of the Belt and Road Initiative is also awaiting the developments in China. I think that is one of the biggest effects,” he told reporters.  Despite the adverse effects of the virus, Airlangga said that Indonesia should remain optimistic as the country had secured some investment commitments during the 2020 World Economic Forum Meeting in Davos, Switzerland last month. Read also: Jokowi’s coronavirus diplomacy works well to convince desperate ChinaThe minister also said that the country would continue to expand its economic influence to the Asia-Pacific region with more comprehensive economic partnership agreements.”Optimism is key during these uncertain times,” he said, adding that Indonesia should strengthen its domestic markets, expand exports and find import substitutes to keep its economy buoyed.Topics :last_img read more

Minneapolis council members pledge to disband police as protests mount

first_imgTopics : Minneapolis City Council president Lisa Bender told CNN “the idea of having no police department is certainly not in the short term.”In New York, Mayor Bill de Blasio announced a series of reforms he said were designed to build trust between city residents and the police department.De Blasio told reporters he would shift an unspecified amount of money out of the police budget and reallocate it to youth and social services in communities of color.He said he would also take enforcement of rules on street vending out of the hands of police, who have been accused of using the regulations to harass minority communities.Curfews were removed in New York and other major cities including Philadelphia and Chicago.Talking reformPresident Donald Trump said on Twitter he ordered the National Guard to start withdrawing from Washington D.C. “now that everything is under perfect control.”In the nation’s capital, a large and diverse gathering of protesters packed streets near the White House, chanting “This is what democracy looks like!” and “I can’t breathe.”A newly erected fence around the White House was decorated by protesters with signs, including some that read: “Black Lives Matter” and “No Justice, No Peace.”Republican Senator Mitt Romney marched alongside evangelical Christians in Washington on Sunday, telling the Washington Post that he wanted to find “a way to end violence and brutality, and to make sure that people understand that black lives matter.”A common theme of weekend rallies was a determination to transform outrage over Floyd’s death last month into a broader movement seeking far-reaching reforms to the US criminal justice system and its treatment of minorities.The intensity of protests over the past week began to ebb on Wednesday after prosecutors in Minneapolis arrested all four police officers implicated in Floyd’s death. Derek Chauvin, the officer who pinned Floyd to the ground, was charged with second-degree murder.Still, anger in Minneapolis remained intense. The city’s mayor ran a gauntlet of jeering protesters on Saturday after telling them he opposed their demands for defunding the city police department.The renewed calls for racial equality are breaking out across the country as the United States reopens after weeks of unprecedented lockdowns for the coronavirus pandemic and just five months before the Nov. 3 presidential election.US Democrats have largely embraced the activists packing into streets to decry the killings of black men and women by law enforcement, but have so far expressed wariness at protesters’ calls to defund the police.Former US President Barack Obama said in an YouTube commencement address for 2020 graduates that the protests roiling America right now “speak to decades of inaction over unequal treatment and a failure to reform police practices in the broader criminal justice system.” A majority of city council members in Minneapolis have pledged to abolish the city’s police department after the death of an unarmed black man in custody last month led to some of the biggest protests seen in the United States.Huge weekend crowds gathered across the country, mostly peacefully. The near-festive tone was marred late on Sunday when a man drove a car into a rally in Seattle and then shot and wounded a demonstrator who confronted him.The outpouring of protests followed the May 25 killing of George Floyd, a 46-year-old black man who died after being pinned by the neck for nine minutes by a white officer’s knee in Minneapolis. A bystander’s cellphone captured the scene as Floyd pleaded with the officer, choking out the words “I can’t breathe.”center_img “I have cops in my family, I do believe in a police presence,” said Nikky Williams, a black Air Force veteran who marched in Washington on Sunday. “But I do think that reform has got to happen.”Nine members of the 13-person Minneapolis City Council pledged on Sunday to do away with the police department in favor of a community-led safety model, a step that would have seemed unthinkable just two weeks ago.”A veto-proof majority of the MPLS City Council just publicly agreed that the Minneapolis Police Department is not reformable and that we’re going to end the current policing system,” Alondra Cano, a member of the Minneapolis council, said on Twitter.Council members said such reforms would be a long, complex process and provided little detail on the way forward.last_img read more

Finland’s Elo increases exposure to hedge funds, private equity

first_imgElo was formed in January 2014 through the merger of Pension Fennia and LocalTapiola.According to the interim report, the equities allocation dropped to 30.7% at the end of September from 35.3% at the same point a year before.Elo said it also made a big reduction in the proportion of corporate bonds in its portfolio in the spring.“Since the end of July, corporate bond margins have been growing in the energy and mining sectors, and also in other sectors,” Hiidenpalo said.“The supply of new corporate bonds has decreased considerably as uncertainty grows.”Exposure to hedge funds increased to 13.3% at the end of September from 10.3% 12 months before.Private equity exposure, too, has grown, rising to 5% from 3.8%.Hiidenpalo told IPE: “We are quite happy with our hedge fund allocation, at the moment around 15%.”She said the shift to hedge funds had been an independent decision and not directly related to the reduction in equity or credit market exposure.Seh said Elo was following its dedicated long-term investment strategy on hedge funds.“It is true a market correction has happened, and this may provide some new investment opportunities in equity and credit markets going forward,” she added. Equities overall returned 4.7% between January and September, down from 7.3% over the same period last year, while fixed income made a loss of 0.2% compared with a 3.4% return.Real estate returned 5.8%, up from 4%.Within equities, unlisted equities generated a return of 12.1%, up from 9.7%, while the return on private equity rose to 18.7% from 15.4%.Hedge funds returned 2.2%, down from 5.3% a year earlier.The solvency ratio declined slightly to 23.9% of technical provisions at the end of September from 26.4% at the same point a year before.Elo’s total assets climbed to €20.1bn at the end of September from €19.4bn at the end of September 2014. Finland’s Elo reported a 2.4% return on investments over the first nine months of this year, down from 4.9% in the same period in 2014, and increased its allocation to hedge funds and private equity.In its interim report for January to September, the mutual pensions provider said falls in commodity prices and economic uncertainty in China were reflected in the equity markets, whose decline steepened in August.Hanna Hiidenpalo, Elo’s director and CIO, said: “European equity markets have yielded better returns from the beginning of the year than US markets but declined from the spring highs more than the US.”She said Elo had reduced its equity risk somewhat compared with the beginning of the year. last_img read more

UK roundup: Falling life expectancy could reduce liabilities

first_imgUK pension fund liabilities could fall by up to 2% due to revised mortality figures, according to Willis Towers Watson.New data from the Continuous Mortality Investigation (CMI), which monitors UK longevity trends, showed standardised mortality rates improved by 2.6% a year on average between 2000 and 2011, but since then “have been close to zero”.Stephen Caine, senior consultant at Willis Towers Watson, said: “For some schemes about to embark on new funding negotiations, adopting [new CMI data] could cut life expectancy for a male retiring now by around six months compared with the assumptions made when they last went through this process three years ago. This could represent a reduction in liabilities of up to 2%.”However, Aon Hewitt has warned that the same data could mean some pension schemes finding themselves at the wrong end of poor pricing in the longevity hedging market. Tim Gordon, head of longevity at Aon Hewitt, said: “It is increasingly difficult to argue that the fall off in national mortality improvements since 2011 is simply a blip. However, the underlying picture for pension schemes is complex and, accordingly, a more tempered view is appropriate.”Gordon added that the longevity swap market was “in a state of flux”.“With changing or incomplete data, there remains a risk that schemes considering hedging their longevity risk may end up with poor pricing, or make a decision based on out-of-date information,” he said.In its 2016 update, the CMI said: “Mortality improvements in the general population since 2011 have been unusually low compared to the earlier part of this century.”Figures to the end of December 2016 showed life expectancies at age 65 were 1.3% lower for males and 2% lower for females when compared to 2015 data, the CMI said.Premier Foods reduces pension billPremier Foods, the listed food manufacturer, has reduced its pension spending by £32m for the next three financial years owing to an improvement in its pension schemes’ funding levels.For the three financial years from 2017 to 2020, Premier Foods will pay £107m into its pension schemes, versus £133m under its previous arrangement. In addition, its administration costs are expected to fall by £2m a year due to a contribution from one of the group’s pension schemes.Between 2020 and 2023 the company will pay £114m into its schemes, compared with £101m under the previous arrangement.The owner of popular UK brands including OXO and Mr Kipling revised its deficit reduction payments following a 2016 actuarial valuation. Chief financial officer Alastair Murray said this would allow the company to “focus on maximising the company’s free cash flow generation and debt reduction”.Performance monitor for LGPSKAS Bank is to provide investment performance reporting and monitoring services to the UK’s local government pension schemes (LGPS).The company was appointed through the LGPS’ central framework for tenders, administered by Norfolk County Council.Pat Sharman, managing director for the UK branch of KAS BANK, said: “By providing independent performance measurement, we provide our clients with information that helps them with the governance of their scheme, engage in conversations with their service providers based on unbiased information and, where needed, execute decisions in the interest of all the members of the scheme.”NHS employers to pay pension admin costsEmployers in the National Health Service (NHS) Pension Scheme are to pay an additional 0.08% of pensionable pay towards administration costs, the government has ruled.From 1 April, employer contributions to the unfunded scheme will rise from 14.3% to 14.38%, the UK’s Department of Health announced last week.The NHS Pension Scheme has more than three million members, including 850,000 pensioners.last_img read more

Guardiola takes swipe at Barca over Man City’s Euro ban

first_imgPep Guardiola went to war with his former club Barcelona on Wednesday as Manchester City’s manager defended his current employers in the wake of their European ban. Barca president Josep Maria Bartomeu has “thanked” UEFA for banning City from the Champions League and Europa League for two years, a shock sentence handed out on Friday which the Premier League champions plan to appeal. Manchester City manager Pep Guardiola took a swipe at Barcelona over his club’s European ban The Catalan club, where Guardiola remains a legend, have problems of their own after being accused of hiring a social media company to attempt to damage the reputations of figures such as the City boss and their own striker Lionel Messi. The reports, which Barcelona have vehemently denied, claim that the campaign was part of an attempt to strengthen the Barca board’s position. But Guardiola reacted angrily when asked about both incidents after Wednesday’s 2-0 win over West Ham. “I don’t know if they spied on me,” he said. “If it happened, they know me so it is not necessary to spy on me. “And if they are happy we are suspended, I’d say to the president of Barcelona, give us the (right) to appeal, you know. “He asks right now the people trust what they (Barca) have done, so that is what we’re going to do. We believe that we are right and we are going to appeal and maybe it happens. “But don’t talk too loud Barcelona, my advice: don’t talk too loud. “Because everybody’s involved sometimes in situations. But we are going to appeal and hopefully in the future we can play the Champions League against Barcelona.” Promoted ContentWho Is The Most Powerful Woman On Earth?7 Black Hole Facts That Will Change Your View Of The Universe12 Movies That Almost Ended Their Stars’ CareersThe Top 9 Oddest Underwater Discoveries No One Can Explain6 Incredibly Strange Facts About HurricanesThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreTop 7 Best Car Manufacturers Of All TimeBest & Worst Celebrity Endorsed Games Ever Made7 Famous And Incredibly Unique Places In ThailandA Guy Turns Gray Walls And Simple Bricks Into Works Of ArtThe Models Of Paintings Whom The Artists Were Madly In Love WithBirds Enjoy Living In A Gallery Space Created For Them Loading… Read Also: De Bruyne explains how Man City stars reacted to UCL ban“I spoke (to him) a little bit about the situation and I am confident in the end, if we deserve it from what we have done on the pitch, we will play next season in Europe.“I have confidence 100 per cent in the club, I said it before, and right now I am pretty confident we are going to defend our position.“When someone believes they are right, they have to fight until the end, no matter what. That is what I think the club is going to do.”FacebookTwitterWhatsAppEmail分享 Guardiola was talking for the first time since news broke on Friday that his club had been found guilty by UEFA of financial fair play irregularities that saw them hit with the two-year suspension. That, in turn, led to speculation that Guardiola, who is believed to have a break clause in his contract this summer, would be moved to quit the Etihad Stadium. – ‘I want to stay’ – But, after City’s first game since the ban, Guardiola was defiant in his insistence that he will not leave the club. “It is not finished because the club believes it is unfair and we are optimistic that in the end truth will prevail and next season, if we qualify for the Champions League, we will be there,” he said. “If they don’t sack me – and that can happen – I will stay here 100 per cent, more than ever. “First because I want to say it is something special but more than the contract I have, I said before and I say now, I will see out my contract. “I am optimistic in the end it will finish well. Me personally, we speak with the players and the next three months we still have focus on what we have to do and see, in the end, what is the sentence. “Personally, no matter what happens, I will be here next season.” In the short term, City now face a battle with the Court of Arbitration for Sport to overturn the UEFA decision and Guardiola insisted he has complete confidence in his club’s claims after talks with chief executive Ferran Soriano. “What has happened has happened but it is not over,” said Guardiola. “Today, Ferran Soriano said the club are going to appeal.last_img read more

Lady Wildcats And Lady Bulldogs Split Games

first_imgFranklin County Wildcats Varsity was victorious over Batesville, 4-2, improving their record to 4-0 overall and 2-0 in EIAC play.In the first inning, Franklin County Wildcats Varsity got their offense started when Hannah Hornsby doubled on a 1-2 count, scoring one run. The Wildcats would go on to score two in the first.Kamryn McCool was credited with the victory for Franklin County Wildcats Varsity. She surrendered two runs on four hits over seven innings, striking out 16 and walking zero.K Obermeyer took the loss for Batesville. She went six innings, allowing four runs on five hits, striking out four and walking zero.McCool also led Franklin County Wildcats Varsity with two hits in three at bats.Courtesy of Wildcats Coach Alex McCool.The Junior Varsity Bulldogs went into Franklin County Thursday evening and defeated the Lady Wildcats by a score of 13-3.  Patience at the plate, aggressiveness on the basepaths, and timely hitting were key in the victory.Batesville got out to an early 3-0 lead in the first inning, scored three more in the second and fourth innings, and finished out the night pushing across four runs in the top half of the fifth.The JV Bulldogs collected seven hits on the evening with Abby Westerfeld leading the charge with two hits.  Other Bulldogs tallying hits were Callie Main, Paige Oldham, Gwen Martin, Chloe Saler, and Hannah Nunlist with a hit a piece.Westerfeld was solid on the mound throwing all five innings for the Bulldogs allowing just three hits while striking out 8 Wildcat hitters.This was an overall strong performance from the JV Bulldogs in the field and at the plate.Batesville JV softball will next be in action Friday night at home against Madison.Courtesy of Bulldogs Coach Stacey Kessens.last_img read more

Floyd Thieman, 88, Cross Plains

first_imgFloyd H. Thieman, 88, of Bear Creek Road in Switzerland County south of Cross Plains passed away at 1:05am, Wednesday, June 10, 2020 at the Waters of Clifty Falls in Madison. He was born on the farm where he lived his entire life on January 15, 1932 the son of Ervin and Marie Torwelle Thieman. Survivors include his sister-in-law Audrey Thieman of Cross Plains; nephews David Thieman of Cross Plains and Gary Everhart of Indianapolis; nieces Diana Harned of Louisville, Becky Cutter of Versailles, Kathy Harland of Dallas, Texas, Tammy Myers of Greenfield, and Debbie Davis and Janet Everhart both of Morristown. He was preceded in death by his parents, and his brothers Orville and Leo Thieman. Mr. Thieman was a 1950 graduate of Cross Plains High School and was an Army veteran of the Korean War. He was a former employee of Segrams, the Indiana State Highway Department, and had driven a school bus for the Switzerland County Schools. Even with his other occupations, Floyd was always a farmer at heart. He loved tending his farm and especially baling hay, and he was also an avid fan and follower of the Cincinnati Reds. Floyd was a lifelong member of the St. Paul Lutheran Church at Dewberry and was also a member of the Brown Township American Legion. Funeral services will be held on Saturday, June 13th at 11am at the St. Paul Lutheran Church in Dewberry with Pastor Benjamin Lornez officiating. Burial will be in the church cemetery with military graveside rites by the Brown Township American Legion. Visitation will also be at the church on Saturday beginning at 10am. Memorials may be given to the St. Paul Lutheran Church in care of the Stratton-Karsteter Funeral Home in Versailles.last_img read more