A freight in vain

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Dutch schemes’ funding up by at least eight percentage points in 2017

first_imgThe coverage ratio of Dutch pension funds increased by at least eight percentage points on average last year, in particular thanks to improving equity markets, according to Mercer and Aon Hewitt.Mercer saw the schemes’ funding rise by one percentage point to 107% on average during December. Aon Hewitt, which applies slightly different criteria, found that coverage had last month remained unchanged, at 106%.Aon noted that the funding level at the end of 2017 exceeded the required minimum of 104.3% and said it expected that only a few pension funds had closed the year with a funding shortfall.This compares favourably with the situation at the end of 2016. Then, coverage of Dutch pension funds was 98% on average, after funding had just jumped thanks to improving equity markets and rising interest rates in the wake of the election of Donald Trump as US president. At the time, it was expected that no more than 10 pension funds would have to start cutting pension rights in 2017.As schemes are allowed to spread out necessary discounts, cuts were expected to be limited to a maximum of 1% last year.Commenting on 2017, Mercer said that worldwide developed market equities had risen 0.7% without a 50% currency hedge in December, and 1% in case schemes had applied such a hedge. It added that equities in emerging markets had gained 2.9%.The rise in the swap rate hardly contributed to a drop in liabilities, as the ultimate forward rate fell from 2.9% to 2.6% last yearAon HewittListed property and commodities yielded 0.8% and 2.3%, respectively, last month, while euro-denominated government bonds and credit had lost 0.8% and 0.3%, respectively, according to Mercer.Aon indicated that equity investments without currency hedging had generated 10% over last year.It said the US dollar had depreciated 14% relative to the euro.Property portfolios lost more than 2% on average last year, according to Aon, which added that fixed income portfolios had remained largely at the same level.During December, the 30-year swap rate – the main criterion for discounting pension funds’ liabilities – dropped marginally to 1.50%. At the end of 2016, the rate stood at 1.23%.Aon Hewitt noted that the rise of the swap rate had hardly contributed to a drop in liabilities, as the ultimate forward rate (UFR) had fallen from 2.9% to 2.6% last year. The UFR is part of the discount mechanism for Dutch pension funds’ liabilities.  “As a result of this reduction, pension funds must apply higher liabilities for long durations, which has cancelled out the effect of decreased liabilities for the short durations,” the consultancy said.The UFR allows pension funds to apply higher interest rates than the market rate for long-term liabilities. However, the difference between the market rate and the UFR has decreased significantly.Mercer noted that pension funds’ liabilities had risen 0.1% on balance last month, following an increase in short-term interest rates and a slight drop in long-term rates.Edward Krijgsman, senior investment consultant at Mercer, explained that pension funds’ liabilities are more susceptible to long-term interest rates, whereas regular government bonds and credit are more affected by short-term rate developments.last_img read more

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A Whitsundays island could be yours for the price of a Fig Tree Pocket home

first_imgPoole Island in the Whitsundays has hit the market at $1.2 million.Poole Island comes complete with two homes and sheds, an aircraft runway and handmade rock swimming pool.Buyers will have their first opportunity to inspect the island late this Sunday, October 21 and then again on Tuesday, October 23. “They live in Melbourne and the kids now no longer want to trek that far to the island, which is often the case with islands, it’s the kids that end up determining whether they keep them or they move them on. MORE: Property market hit by the Tinder effect How one agent is worming himself into the market Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:48Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:48 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels432p432p288p288p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning 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.This 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 Rate1xFullscreenPoole Island01:49FOR the median price of house in Fig Tree Pocket in Brisbane, or Minyama on the Sunshine Coast, you can purchase an entire island at the Whitsundays.The 20ha Poole Island has been offered to the market for the first time in 40 years, and you can pick it up for just $1.2 million.To put that in perspective, a one-bedroom unit in Sydney is on the market for $1.16 million.You get a bit more bang for your buck in Melbourne, with a three bedroom unit up for grabs for $1.15 million. But neither of those options are located on the Great Barrier Reef, one of the Seven Wonders of the World. Australian Islands island and resort specialist Richard Vanhoff said he had already received hundreds of inquiries since the property launched on Monday (October 15).“We’ve had probably well over 1000 inquires so far, which has been huge,” Mr Vanhoff said. “It was quite a substantial operation on the island and it was very exciting,” he saidMr Vanhoff said the 93-year-old owner put the island up for sale as his family no longer visited it.“It’s a place where he brought up his children for holidays and it’s just a family island,” he said. The island was first developed as a commercial property in the 1800s and still has some evidence of its former existence. More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoHe said the property, now zoned residential, once had a commercial operation as the first place in Queensland to store frozen meat to be distributed internationally. Its deep water access meant large vessels could call in to collect meat to distribute it up and down the coast and even go overseas. Claudia Karvan warehouse for sale MORE: Late bookmarker’s home a hot ticket “Being in his nineties, he’s had enough, he’s going to hang around Melbourne and live out his years there I guess.” The island has a large home facing the Coral Sea with a second house that was built in the late 1800s. How Kylie Jenner is cashing in The island has its own 700ft runway to cater for small aircraft or helicopter from either Airlie Beach or Bowen. Inside the main residence.last_img read more

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RSPCA applauds inner-city pooch pads fur bigger best friends

first_imgThe garden terrace apartments at Banc, Toowong. Photo: SuppliedPotential buyer Kellie Blanch, who owns Toby, a labrador, said she was drawn to the property for its proximity to the city and its large outdoor spaces as well as being close to parks and restaurants.Ms Blanch, of Balmoral, said dogs were important members of families however finding a suitable apartment for the pair was hard.“You need to find a property that they’re comfortable and happy in so the more outdoor space the better,” Ms Blanch said.“I definitely find it a bit more difficult finding a place when you have a pet especially when you go over the 10kg limit that some properties have, or the need of body corporate approval in some properties does make it an obstacle.” Ideal Property director John Li said the terraces were priced between the mid to high $2 million range.“About 95 per cent of downsizers are coming from the western suburbs,” Mr Li said.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours ago“They don’t want the three to five-bedroom homes, or to mow the lawns.”Mr Li said downsizers with large pets would enjoy the garden terrace apartments featuring 195sq m internal space, and an 230sq m external area.“It’s single storey living with exclusive use of the garden area,” he said.The terrace apartments feature three bedrooms, one living room, one dining area, one media room, two bathrooms plus powder room and a two-car garage. Kellie Blanch with her dog, Toby, in the Banc Apartment at Toowong. Photo: Annette DewSome of Brisbane’s newest residential developments are proving to be a pets paradise, particularly for the larger kind.A new release of luxury garden terrace apartments at Banc Apartments, a $70 million riverfront development at Toowong, is aimed at downsizers who crave space not only for themselves but their four-legged hounds. The garden terrace apartments at Banc, Toowong. Photo: SuppliedRSPCA Qld media spokesman Alex Hyndman Hill said it would be great to see developers and body corporates more open to the idea of larger breeds of dogs.“Not every dog lover is a lover of small dogs. Fur babies come in all shapes and sizes and it’s great to see developers beginning to cater for that fact,” she said.“In reality a greyhound is an ideal apartment pet – they’re chilled and do a lot of sleeping in the day and are content with a morning and evening walk.”She said with dog ownership increasing, apartment living as increasing too and builders, property developers, estate agents and landlords all needed to be conscious of this and start thinking about ways to make life with a pet possible.“As long as developers look into access to green space and common areas there is no reason why responsible tenants and owners shouldn’t be allowed to keep any size dog,” she said.Place Kangaroo Point selling agent Deb Maguire said the garden terraces appealed to not only buyers with dogs but those who wanted luxury living without maintenance.“We’ve had people say they can’t find apartments for bigger size pets,” she said.“You could have a couple of dogs here at the garden terrace with plenty of room to run. And they don’t have to be locked inside all day.”last_img read more

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No minimum price for alcohol

first_imgStuff.co.nz 24 April 2014Minimum pricing on alcohol will not get the green light, Justice Minister Judith Collins says.She said such a policy would “hit moderate drinkers in the pocket”.The Government had signalled it was not keen on the proposal, which is being explored in Britain.Collins waited for a report from Ministry of Justice officials based on a minimum price of between $1 and $1.20 a unit.The report recommended waiting five years while alcohol reforms took effect.Its authors said a minimum price would financially benefit the industry, retailers and suppliers to the tune of $131 million a year and have only a modest effect on harmful consumption.Implementation, enforcement and monitoring would be difficult, and the regime was internationally untested, they said.http://www.stuff.co.nz/national/politics/9975235/No-minimum-price-for-alcoholAlcohol-pricing policy delay slammedStuff.co.nz 26 April 2014Justice Minister Judith Collins’ decision to wait and see on a policy that could significantly reduce alcohol harm has been called election-year cowardice.Minimum alcohol pricing – a scheme focused on cut-price liquor such as cask wine – could save the country an estimated $624 million in alcohol harm over a decade, a Justice Ministry report found.The scheme, already established in Canada and voted through by the Scottish Parliament, sets a base price for alcoholic beverages based on the number of standard drinks per bottle.The Justice Ministry report concluded “overall, any price increase will effectively reduce harmful alcohol consumption and alcohol-related harm”.“A minimum price or excise increase would have some impact on low-risk drinkers, but the savings to society significantly outweigh the lost benefits to consumers.”Despite this, Collins’ summary of the report said “there [was] no compelling evidence that increasing the price of alcohol is the correct approach”.http://www.stuff.co.nz/national/politics/9980069/Alcohol-pricing-policy-delay-slammedlast_img read more

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WWE: Here are draft predictions for SmackDown Live and RAW for 2019

first_img WATCH US LIVE Written By Last Updated: 3rd October, 2019 18:24 IST WWE: Here Are Draft Predictions For SmackDown Live And RAW For 2019 The World Wrestling Entertainment draft is all set to take place on October 11, 2019, for SmackDown and October 14, 2019, for Raw. Here is a prediction about it FOLLOW US COMMENT First Published: 3rd October, 2019 18:24 ISTcenter_img SUBSCRIBE TO US LIVE TV The World Wrestling Entertainment (WWE) draft is all set to take place on October 11, 2019, for SmackDown and October 14, 2019, for Raw. The most significant prediction is that Becky Lynch is probably going move to SmackDown Live in the WWE Draft 2019. The draft is going to take place after the Hell in a Cell PPV, Becky Lynch will be defending Raw Women’s Championship against Sasha Banks. She is likely to lose the title at the PPV, freeing herself to be selected by SmackDown. Plus, Fox is advertising Becky for WWE SmackDown, which draws us to this conclusion. Read | WWE Hell in a Cell: Date, time and where to watch the WWE PPVAnother draft to be predicted is of Finn Balor. The biggest reason behind the move is because it would set him up to join the O.C faction. He has been a babyface since he joined WWE, and it would be engaging with them to change his directions. His move to Raw will probably see him with AJ Styles, Luke Gallows, and Karl Anderson.Read | WWE Hell in a Cell: Match details and predictions for the upcoming PPVWWE news: Splitting of Asuka and Kairi SaneBoth Asuka and Kairi Sane have the potential and talent to be top singles, and their tag team is just hurting their won images. This would lead to a lot of exciting feuds like Asuka vs Sasha Banks and Asuka vs Becky Lynch II. Also, Kairi Sane vs every single member of the Four Horsewomen will be another thrilling clash. WWE will probably plan this split of Kabuki Warriors in this draft for their good. Read | WWE Hell In A Cell: Everything you need to know about the Pay-per-ViewWWE news: Superstars going undraftedAnother thing to be predicted is that a Superstar from SmackDown will go undrafted. Someone like Apollo Crews has a chance to be undrafted as he acts as a heel and he doesn’t have a face in WWE. After this, he will be probably shifted to NXT and NXT UK over the next few months. He will have to work his way up to SmackDown or Raw.Read | WWE Raw: Best from the current roster including Braun Strowman Akhil Nambiar last_img read more

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William Hill agrees programme sponsorship with ITV Racing

first_imgShare SBC Magazine Issue 10: Kaizen Gaming rebrand and focus for William Hill CEO August 25, 2020 Submit ITV secures three-year British racing broadcast deal August 5, 2020 Related Articles William Hill accelerates transformation agenda to overcome COVID realities August 5, 2020 StumbleUpon Share William Hill has agreed a one-year partnership with ITV to become the programme sponsors of the broadcaster’s new racing coverage.The bookmaker will sponsor almost 100 days of live racing across the main channel and ITV4, in addition to a magazine preview programme on ITV4 featuring bespoke William Hill idents.ITV’s racing coverage will be led by the former Sky Sports presenter Ed Chamberlin, alongside Flat Season co-presenter Francesca Cumani, ‘The Opening Show’ weekly magazine presenter Oli Bell and pundits such as AP McCoy, Frankie Dettori, Victoria Pendleton, Mick Fitzgerald and Hayley Turner.Coverage will begin on the main channel with the New Year’s Day meeting at Cheltenham. 41 days of racing on the main channel will encompass the Grand National, The Epsom Derby, all the major festivals including Cheltenham and Royal Ascot, the Five Classics, plus other highlights of the racing calendar such as Future Champions Day at Newmarket and Champions Day at Ascot.In addition, ITV4’s racing coverage will see a re-introduction of free-to-air broadcasts of the Craven Meeting at Newmarket in April. The channel will show two days including the Nell Gwyn and Craven Stakes, key trials for the 1000 and 2000 Guineas. Both days of Newbury’s winter festival featuring the Hennessy Gold Cup will also be broadcast.Cem Miralay, Chief Customer Officer at William Hill, said “We’re delighted to be the new sponsors of ITV Racing. The new format is set to attract millions more viewers to the sport and we’re excited to have this opportunity to engage with this new audience on a weekly basis.”Kelly Williams, ITV Group Commercial Sales Director, commented: “The launch of our racing coverage is an exciting new event for ITV and I look forward to working with William Hill which has such a history with the sport.”last_img read more

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German DAW wants 2021 reforms to deliver harmony on Slot Machine governance

first_img Share Submit StumbleUpon Share Deutsche Automatenwirtschaft (DAW), Germany’s ‘umbrella association’ for gaming machine manufacturers and suppliers has published a set of key criteria which it believes must be addressed by inbound ‘2021 State Treaty on Gambling’ laws reforming the nation’s federal gambling frameworks.Representing gaming machine stakeholders, DAW urges Bundestag deputies to develop a coherent and purely quality-orientated regulatory agenda, which strengthens the position of Germany’s legal actors.To date, German gaming machine manufacturers have been underserved by fractured regulatory provisions established under four separate federal frameworks – ‘Trade Regulation Act’ (Gewerbeordnung), ‘German Gaming Ordinance (Spielverordnung)’, ‘The Interstate Treaty’ and the ‘Gaming Transposition Act’ related to the governance of amusement arcades.“The amendment of the State Treaty on Gambling is a great opportunity to counteract the undesirable developments – above all the rapid growth of the black market – with a holistic approach,”  explains DAW Chief Executive Georg Stecker“Only a coherent regulation of all forms of gaming, including the use of commercial slot machines based solely on quality standards, and a strengthening of legal providers can curb the black market and effectively protect consumers.2020 is set to be a crucial year for German gambling, as federal lawmakers move to establish a governing mandate for the new ‘State Treaty on Gambling’, revamping the nation’s gambling framework for June 2021.Representing, the interest of diverse slot machine stakeholders operating across Germany’s gambling and leisure industries, DAW governance underlines ‘five key criteria’ which it believes will strengthen regulatory codes, whilst improving all-round responsibility standards.The DAW recommends:-The harmonization of regulatory codes governing gaming machine content and manufacturing requirementsThe introduction of a comprehensive ‘biometric-led’ national self-exclusion programmeThe independent certification of German gambling hallsFurther accreditation of professionals working in German gaming machine manufacturingThe bolstering of youth and consumer protection provisions through cooperation with relevant actorsStecker warns :”Anyone who does not play a role in regulating the regulation of gaming slots out half of the legal gambling market incoherent regulation and further aggravates market imbalances. It can not be that online gambling is legalized, which are available everywhere, and at the same time the distance rules remain in the commercial slot game”.last_img read more

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Russell Colvin joins FSB as retail lead

first_img FSB selects Glenn Elliott as new COO August 12, 2020 Related Articles Submit Share StumbleUpon Mark Wilson: How FSB is meeting the recreational cricket punter’s demands August 20, 2020 FSB teams up with Cricket.com to launch predictions game June 18, 2020 Industry platform provider FSB has enhanced its Business Development team after naming Russell Colvin as the new Head of Retail Sales.Colvin has joined the firm from Playtech’s BGT Sports division where he held the role of Commercial Director. In his new role, Colvin will oversee the sales of FSB’s retail products such as its Self Service Betting Terminal and EPoS systems.Commenting on his appointment, Colvin said: “I am really excited to have joined FSB and look forward to working with such a talented team.“FSB’s retail products and services are game-changing, and I am looking forward to introducing them to operators in markets around the world.”Prior to joining FSB, Colvin has amassed over 20 years’ of experience from the sports betting industry, having worked for companies such as Coral, Global Draw and Scientific Games.Dave McDowell, CEO of FSB, added: “I am thrilled to welcome Russell to the team and for us to leverage his knowledge and experience as we continue to drive our retail product forwards.”“Our retail products are market leading and Russell will play a key role in ensuring operators are aware of what we have to offer and the value we can deliver.” Sharelast_img read more

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Clippers add Danny Granger to roster

first_imgAnother game, another new player for the Clippers.Danny Granger, once the cornerstone of the blossoming Indiana Pacers, cleared waivers Friday and signed with the Clippers, adding even more depth to a team that remains serious about building a championship contender.His recent seasons plagued by tendinitis, Granger was traded from the Pacers to Philadelphia just before the trade deadline. He worked a buyout from the 76ers to earn his freedom, then chose the Clippers over such suitors as Miami, San Antonio, Houston and Dallas.The 6-foot-9 Granger, who averaged 25.8 points in 2008-09 and 24.1 the next season, arrives just in time for the injury-stricken Clippers. They still don’t know when J.J. Redick will return from the bulging disc in his lower back and his replacement, Jamal Crawford, is dealing with a calf strain. The tendinitis in his right knee caused Granger to miss 77 games last season and he was coming off the bench this season for Indiana, which is poised to challenge Miami for Eastern Conference supremacy.“I definitely have gotten healthy,” Granger told the team’s Web site. “Now it was just a matter of getting my game back and getting my feel, and I was on track. I’m still feeling good. So, I still feel like I have a lot to offer and I like the way I’m going.”Granger had played in 29 games this season for the Pacers and averaged 8.3 points. In 2010-11, his last real full season with Indiana, he averaged 20.5 points. Two years ago, he averaged 17 points in 11 playoff games.Earlier this week, the Clippers signed forward Glen “Big Baby” Davis, who had been waived by Orlando. Davis made his Clippers debut in Wednesday’s win over Houston.“It changes the team,” Clippers forward Blake Griffin said. “But we just try to do a good job of meshing them in and getting them in the mix as fast as possible.” Granger said the lure of playing for Coach Doc Rivers and alongside Chris Paul was a tipping point in his choosing to play for the Clippers.“I’m very familiar with the way Doc coaches,” Granger said. “And I think you always have a desire to play with a point guard the caliber of Chris Paul. And I think in the West, it’s a really tight race out here and I just thought I would be able to help this team the most.”Granger will wear jersey No. 33 and will be available to make his debut Saturday night at Staples Center when the Clippers take on New Orleans. center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

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