Independent EIOPA funding will be ‘difficult to resist’ – NAPF

first_imgProposals to fund the European Insurance and Occupational Pensions Authority (EIOPA) through a levy on pension funds are likely to go ahead according to the UK’s industry association.The National Association of Pension Fund’s (NAPF) policy lead for the European Union, James Walsh, said EIOPA had long since been making a case for its own funding stream and momentum behind the idea was building.He said the association was unlikely to be able to fight off the idea and instead will look for concessions elsewhere.EIOPA is currently funded directly by the EU budget – and in turn taxpayers – and through grants from regulators in individual member states. However, since 2013, suggestions and plans have begun forming around independently funding the European Supervisory Authorities (ESA), of which EIOPA is one.In May last year, chairman Gabriel Bernardino said the European regulatory system could be strengthened by more operational independence for authorities, particularly through an independent budget.This was followed by members of the European Parliament’s economic and monetary affairs (ECON) committee backing Bernardino’s call, suggesting market participants should fund market supervisors.In a report published last month, the European Commission announced an investigation into the possibility for ESAs to no longer be funded through the EU budget and national regulators as increased mandates and staffing levels meant this was unsustainable.Walsh said incrementally momentum was building up with a levy on European pension schemes to fund EIOPA a likely option.“We will end up with a levy,” he said. “It will be difficult to resist, and it may be one of the occasions where the NAPF, rather than just saying no and then losing the argument in the long-run, asks what funds can get back in return.”Walsh said the NAPF would look to extract concessions for UK pension funds by aiming to reduce levies paid to the UK Pensions Regulator.These levies currently indirectly fund EIOPA’s operations.The Commission paper also suggested the potential merger of EIOPA’s two insurance and pensions stakeholder groups into one outfit.Walsh said this would increase the likelihood insurance policies were then simplistically applied to occupational pensions.last_img read more

Sun and savings lure southern buyers

first_imgThe $260 million arts-inspired Chevron One is the first Queensland project for Bensons Property Group.“We’ll keep a car there so we can just jump on a plane and be there and drive anywhere we like on the Gold Coast,” she said.“We love that it’s an island retreat, but ridiculously close to the centre of Surfers Paradise.“The dining scene has matured so much and I just love the Gold Coast weather and the fact that there’s a lot of buzz and choice of things to do.” Space and outlook were important considerations for the couple, who were drawn to how the interior of their apartment blended seamlessly with its generous balcony area and spectacular city vistas. The couples’ four-bedroom sub-penthouse spans almost 250sq m, including almost 80sq m of balcony space, and offers northeast views of the Nerang River, Surfers Paradise and beyond. “When we heard that the developer’s family would be residing there on levels 39 and 40, we knew it was the building for us,” Ms Gray said. “I like that there won’t be tourists in and out of there and no people on short-term rentals.”The Chevron One sub-penthouse is one of six within the tower and is the couples’ first property purchase on the Gold Coast.Each sub-penthouse has three bedrooms all with ensuites and a fourth or ‘flexi’ bedroom, which could also serve as a study.The master bedroom comes complete with a walk-in robe and an ensuite with freestanding bath.The entertainer’s kitchen was designed by celebrity chef Shannon Bennett, and has two ovens, a double sink, integrated Miele appliances, five-burner cooktop, and plenty of storage space. It blends with an open-plan living area and outdoor entertaining space overlooking Surfers Paradise.The $260 million arts-inspired Chevron One is the first Queensland project for Bensons Property Group, which has developed more than $2 billion in projects throughout Melbourne. Offering a total of 247 one, two, three and four-bedroom apartments, Chevron One is the first high-rise tower set to take shape on Chevron Island. The views are the main selling pointMore from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus18 hours agoApartments are priced from $455,000, with the most expensive residence – a two level penthouse costing $16.5 million – retained by the Bensons Property Group chairman and his family. Construction of the tower is scheduled to be complete by early 2021. Chevron OneAnd with Melbourne recording a maximum June daily average of just 14.1C, compared to 21.4C on the Gold Coast, the couple is no doubt counting down the days.Meanwhile, Stockland is reporting a surge in interstate buyers at their Newport community on the Redcliffe Peninsula.The developer said Sydney upgraders, in particular, were looking north in a bid to find better value for money, with lots at Newport now available from $251,900. Stockland acting Queensland general manager for residential communities David Laner said the laid-back lifestyle on offer at Newport, coupled with the affordability of a dream new home, had sparked a rise in interstate buyers including “multi-generations of families” seeking a change. “Newport is … located 36 kilometres from Brisbane CBD, with easy access to outstanding amenities including schools, parks, shops and public transport – not to mention nearby beaches,” he said. Queensland’s population reached five million earlier this month, a milestone largely driven by interstate and international migration.Western Sydney residents Philip and Cheryl Sanderson discovered Newport after friends of theirs purchased at the masterplanned community. Melbourne couple Michelle Gray and Michael Burstin have bought a $3.25 million sub-penthouse within Chevron Island’s first high-rise tower, Chevron One.Southeast Queensland’s real estate market is heating up, with southern state buyers permanently moving north or buying their ultimate winter escapes. Among them is Melbourne couple Michelle Gray and Michael Burstin, who recently purchased the ultimate holiday home – a $3.25 million sub-penthouse in Chevron One at Chevron Island. The professional couple bought the Level 38 residence at the 40-storey tower as a place to escape the Victorian winters. center_img Cheryl and Philip Sanderson are moving from Sydney to Stockland’s Newport community“They told us what a lovely place it was and before we’d even set eyes on it we were in love,” Mrs Sanderson said.“We were worried about telling our children that we wanted to move to Queensland but when I told my daughter Toni she confessed she had wanted to do the same but was worried about telling us. “She has now purchased a lot in Newport in a wonderful location that’s just 25 blocks away from our future home.” Newport at Redcliffe is being developed by Stockland.Mr Sanderson said they had been living on a 420sq m block in Sydney that cost over $650,000 and they were able to purchase the same sized lot for just $320,000 at Newport. He said they were able to visit Stockland’s Elara development in Marsden Park, choose a suitable home and sign a contract before ever setting foot in Newport. Newport will be home to more than 5000 residents upon completion, and will feature proposed waterside dining, leafy foreshore parks, kilometres of cycling and walking paths and a future 22-hectare lake with deep water, high mast boast access to Moreton Bay. Non-waterfront lots at Newport currently start from $251,900 for a 263sq m homesite, with waterfront lots ranging from $591,900 for a 336sq m lot to $969,900 for a 637sq m lot.last_img read more

Cape Sharp Tidal turbine servicing steady at Port Saint John

first_imgOpenHydro tidal turbine under maintenance in Canada (Photo: Cape Sharp Tidal) Cape Sharp Tidal has informed it is continuing with the maintenance and retrofitting operations on its tidal turbines at the Port Saint John in Canada with unspecified redeployment date.The OpenHydro’s open-center tidal turbine, used by Cape Sharp Tidal for the Bay of Fundy tidal energy project, was recovered from the Minas Passage on June 15, 2017.The turbine has since been undergoing a detailed inspection at Port Saint John that will also involve modifications to the components on its electrical sub-system attached to the subsea base and connected to the turbine, known as the turbine control center (TCC).The second turbine for the project is also being serviced at the port, and the completion date of the maintenance operation as well as deployment/redeployment schedule for the turbines remains unknown.Stacey Pineau, Cape Sharp Tidal’s spokesperson, said: “This is the first time this exact turbine design has been deployed in the world. Since the recovery of the Cape Sharp Tidal turbine, we have been taking the time needed to perform a detailed evaluation of the unit in port.“The retrofitting of the second turbine is also ongoing in Saint John at this time. We’re not yet in a position to provide the timing of the redeployment of the recovered turbine or the deployment of the second turbine.”The maintenance operations are related to a malfunctioning part identified in August 2016 which threatened the long-term performance and reliability of the turbines.Cape Sharp Tidal, a joint venture between Emera and OpenHydro, is using the latter’s in-stream tidal technology whose design is based around four key components including a horizontal axis rotor, magnet generator, hydrodynamic duct and subsea gravity base foundation.The turbine base sits on the seabed floor so no drilling is required for its installation, according to Cape Shape Tidal.It’s called an in-stream turbine because it sits directly in the water flow that moves the fins, which in turn cause the rotor to turn. It’s completely different technology from the turbines used in dam tidal and hydro power sites, Cape Sharp Tidal noted.The 2MW turbine is 16 meters in diameter, weighs 1,000 tonnes and stands 21 meters high.The turbine rotor has 10 fins. Each fin is rounded along its entire edge, is 20 centimeters thick at the base, and 1.5 centimeters thick at the rounded tip.The rotor turns an average of 6-8 times a minute, taking 10 second to complete one full rotation at that speed.This is the strongest and heaviest turbine designed by OpenHydro so that it can withstand the powerful Bay of Fundy tides, according to Cape Sharp Tidal.To remind, the turbine was installed at one of the testing berths of the Fundy Ocean Research Center (FORCE) in November 2016. It started delivering electricity to the grid later that year, producing enough energy to power 500 Nova Scotia homes.last_img read more

Designs by S.African & Senegalese artists on display in New York

first_imgA collection of unique and innovative African art is on display in New York this month. A new exhibit called Grains of Paradise is giving visitors the chance to explore the work of four African designers, each with a different take on conventional furniture. CCTV’s Patrice Howard reports on how this collaboration could be mutually beneficial African artists use music to educate the continent Fashion store in Uganda pioneering bold African designs Related African artists showcase their work at London exhibitionlast_img read more

Huge weekend doubleheader for Sprint Series of Oklahoma

first_imgBy David Smith Jr.ARDMORE, Okla. – A pivotal weekend in the battle for the inaugural point championship takes place this weekend as the Sprint Series of Oklahoma is set for a doubleheader weekend this coming Friday and Saturday, Sept. 16 and 17.It all kicks off on Friday night as the IMCA RaceSaver Sprint Car Series make its fourth and final appearance of the season at Southern Oklahoma Speedway in Ardmore. The SSO will then take to the road and head northwest to Longdale, Okla., Speedway for its inaugural appearance at the speedway. They will be joined by the Kansas based United Rebel Sprint Car Series (URSS) in much anticipated event between the two series on “neutral” ground.This SSO event will pay $750 to win and, as has been the case all year, the top three drivers in their perspective heat races will also be paid.Gates open at 5 p.m. with racing action slated for a 7:30 p.m. start time. Grandstand admission is $15 for adults and kids ages six through 12 pay $10.Saturday night’s event at Longdale Speedway with the URSS has both drivers and fans talking as the first-ever meeting of the two series, on neutral ground, has the potential to give race fans the largest sprint car count in the track’s short history.The combined SSO/URSS event at Longdale Speedway will pay $1,000 to win and will be the last sprint event slated for the track in 2016. Gates open at 5 p.m. with race time slated for a 7 p.m. start time. Grandstand admission tickets are $15 for adults, $12 for all seniors and military while ages 12 and under will be admitted free.last_img read more

Pardew patient in player pursuit

first_img Pardew’s interest in Montpellier playmaker Remy Cabella is ongoing, but Press Association Sport understands the club are yet to table a formal bid for a player who has been in their sights for some time. In addition, reports from Spain have suggested that the capture of 20-year-old Tenerife striker Ayoze Perez is a done deal, although sources on Tyneside are adamant that, while talks have taken place, nothing is yet agreed. Newcastle’s need to strengthen is no secret after the loss of midfielder Yohan Cabaye to Paris St-Germain in January, while Dan Gosling has left the club for Bournemouth and strikers Loic Remy and Luuk de Jong have ended their loan spells. With fellow frontman Shola Ameobi out of contract and the futures of Hatem Ben Arfa, Sylvain Marveaux, Gabriel Obertan and Sammy Ameobi uncertain, there are likely to be major changes at St James’ Park before the new season gets under way. Cabella has been on Pardew’s wish-list for some time with the club failing to strike a deal to bring him to English football in the immediate aftermath of Cabaye’s exit. There were suggestions during the winter that an agreement in principle had been reached for the 24-year-old schemer, who is valued at around £11million, but with reported interest from other clubs in England, Spain and Germany, there is much work still to be done. Spaniard Perez has been tipped for great things after scoring 16 goals in 33 league appearances for second tier Tenerife, and his exploits too have attracted a range of admirers. However, while the Magpies remain hopeful of getting their man, there is still a distance to go there, too. Press Association Pardew has made little secret of his desire to strengthen the British contingent at St James’ Park, although sources have played down a link with Aston Villa’s former Sunderland striker Darren Bent, who was a target 12 months ago. However, out-of-contract Black Cats midfielder Jack Colback is a man who interests the Magpies despite talks over a new deal at the Stadium of Light having been reopened. But Pardew freely admits the market represents a “moveable feast”. While men such as Swansea’s Jonjo Shelvey and Manchester City’s Jack Rodwell may also be of interest, finance and competition will dictate to what degree the Magpies stick to their long-standing strategy of seeking the best value for their money. Newcastle are remaining patient over the pursuit of their early-summer targets amid mounting speculation. The Magpies are keen to do their business – or at least a significant proportion of it – as close as possible to the beginning of the transfer window to give manager Alan Pardew the maximum opportunity to work with his new-look squad before the start of the new campaign. However, they are taking their time as they attempt to strike the right deals after a second successive testing Barclays Premier League season. last_img read more

Bilic feeling Hammers heat

first_img Press Association The Croatian also said he understood why supporters jeered his side off the pitch during Saturday’s 4-3 loss to newly-promoted Bournemouth – their second home defeat in a week. Starting their Premier League season with a memorable win at Arsenal remains the only real positive of Bilic’s early tenure since he replaced Sam Allardyce at Upton Park in June. “Maybe the game against Arsenal has come into our heads,” he added. “Maybe we think we are going to do that (again) nice and easy. Or in style. But in the Premier League, against most of the clubs, you have to dig in to have a chance to get points from every game.” Whilst it was a day to forget for everyone related with West Ham, Bournemouth will always remember their first-ever Premier League victory. And Wilson, who had never scored a professional hat-trick, was pleased to see his years of toiling in the lower leagues pay off with his maiden Premier League goals. “I’ve been waiting to the opportunity to play in this league,” said the former Coventry man. “I feel like its been hard work, I’ve had my injuries, I’ve had to come back from that, make sure that I keep focused when I am on my down times but when you’re at the bottom there’s only one way to go and that’s up. “A bit of support from my family and hard work has got me here and hopefully I’ll stay in the Premier League.” He experimented with youngsters in the Europa League qualifiers and saw them come up short. Consecutive defeats to Leicester and Bournemouth plus five red cards for Hammers players have made for an uncomfortable start for Bilic. “I am under pressure,” he said after the loss to the Cherries. “That comes with the territory and that is why I have to turn it around. We were again second-best and I don’t like this situation. Playing like this we can’t expect to win many games. “I can’t blame the fans (for booing). They are behind us to be fair, in the first half and the second half. But what do you expect if we are two down against a team? “Okay, they are a good team who got promoted and to be fair it could have been worse at 2-0 down. The reactions from the fans were normal. The expectations are high anywhere you go.” As against Leicester, West Ham found themselves 2-0 down at half-time as Bournemouth ran riot in east London, with Callum Wilson scoring twice before the break. Bilic saw his side hit back through a Mark Noble penalty and a Cheikhou Kouyate strike, only for Marc Pugh to put the visitors back in front before Wilson completed his hat-trick from the penalty spot, with Carl Jenkinson sent off for pulling back Max Gradel in the box. Modibo Maiga reduced the arrears for the 10 men but the Hammers were unable to rescue a point, with Bilic questioning whether that opening victory at London rivals Arsenal may now be having a detrimental effect on his players. Slaven Bilic admits he is already under pressure after an indifferent start to life as West Ham boss. last_img read more

Trojan Girls Run At NE Meet

first_img admin Latest Posts This is placeholder textThis is placeholder text State budget vs. job creation – January 22, 2015 House fire in Winter Harbor – October 27, 2014 Latest posts by admin (see all) Hancock County Court News Nov. 3 thorugh Dec. 11 – January 22, 2015 Bio BOSTON — The Mount Desert Island High School Indoor track team sent a small contingent to the New England High School Championships at the Reggie Lewis Track Center in Boston on March 6.In the girls 55-meter dash, senior Danielle Hutchins took 13th place with a time of 7.52 seconds. Hutchins also ran the 300-meter dash where she placed 10th with a time of 41.83. Hutchins was joined in the 300-meter by sophomore Destiny Kanu who got 19th place with her time of 56.97.Senior Heather Spurling competed in the two-mile run, placing 23rd overall with a time of 12:08.62.Spurling also was a member of the four–by-800-meter relay foursome with Kailyn Russell, Catie Smith and Kymry Brooks. The team took 20th place with a time of 4:03.41.last_img read more

England ride Joe Denly fifty to win against South Africa

first_imgJohannesburg: Joe Denly scored a half-century as England beat South Africa by two runs in the third and final match here on Sunday to level the three-match ODI series.South Africa had won the first game and the second was washed out.Looking to win the series 2-0, the Proteas were restricted to 256/7 after World champions England skipper Eoin Morgan asked them to bat first.Skipper Quinton de Kock scored 69 off 81 balls (5×4, 2×6) with David Miller also smashing a 53-ball 69 towards the end of the innings to drag the hosts from a hole and take them to a challenging total on a wicket where batting was not easy. For England, leg-spinner Adil Rashid was the pick of the bowlers with figures of 3/51.Chasing 257 for victory, England openers Jason Roy (21) and Jonny Bairstow (43) shared a 61-run stand to provide a solid platform but once Bairstow was removed by Lutho Sipamla, they kept losing wickets with Denly (66) holding one end up. Joe Root (49) and Tom Banton (32) aided the cause with handy knocks but it was allrounder Moeen Ali (17 not out) in the end who took his side over the line with 40 balls remaining and more importantly, two wickets in hand.For South Africa, Lungi Ngidi and Beuran Hendricks picked up three wickets each.Brief scores: South Africa 256/7 (Quinton de Kock 69, David Miller 69 not out; Adil Rashid 3/51; England Joe Denly 66; Lungi Ngidi 3/63, Beuran Hendricks 3/59). IANSAlso Read: New Zealand pacer Tim Southee makes Virat Kohli his bunnyAlso Watch: Assam Police destroyed Opium poppy plantation in South Salmara once againlast_img read more

Club Senior Action

first_imgThere’s one game down for decision this evening. Drom & Inch take on  Loughmore Castleiney in Templemore .. with the game due to throw in at the earlier time of  7.last_img