AP fund reform must not hinder long-term investing, Riksbank warns

first_imgIt warned, however, that more detailed government control of investment procedures – by the introduction of the new board, which would see a principal granted ownership of all assets – could compromise the funds’ freedom.The bank’s comments came after the four main AP funds claimed the system’s overhaul ran the risk of “political micromanagement”.The bank also argued that too narrow a focus on costs could hamper the system’s ability to invest in unlisted assets, and that the funds should not be forced to sell assets too quickly.It said any sale of assets should be gradual, arguing that, if any reallocation were conducted slowly, it would not risk financial stability – an area the bank is responsible for monitoring.AP6, in its own response to the consultation, backed the shift to a prudent-person approach.It said the removal of the quantitative investment rules governing the funds to date could increase the freedom to pursue investments providing better risk-adjusted returns.The fund also agreed with the idea of greater collaboration among AP funds on unlisted asset holdings, and backed collaboration that would go through a single centre of competence based at one of the remaining AP funds.It suggested the funds could coordinate their investment activity by establishing a joint investment committee, and called for the expertise built up over the last 20 years at AP6 to be fully utilised when establishing the new unlisted team at AP2. Sweden’s central bank has warned that the government’s proposed overhaul of the AP buffer fund system could hinder their ability to invest in infrastructure and real estate.The intervention by Riksbank came as AP6, devoted to private equity investments and set to be merged with AP2 under the reform proposals, called for its 20 years of “expertise” to be appreciated as operations transferred to the other buffer fund.Riksbank backed large parts of the proposals, drafted by the cross-party Pensionsgruppen, and said the establishment of a National Pension Fund Board to oversee the system was justified.It also conceded that deciding on benchmarks against which to measure performance and setting risk targets might be warranted.last_img read more

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Noteholders Taking Over Bibby Offshore from Bibby Line Group

first_imgBibby Offshore has reached an agreement on the recapitalisation of its balance sheet with noteholders who hold 80% of the £175 million 7.5% senior secured notes due June 15, 2021 issued by its subsidiary Bibby Offshore Services. The terms of the recapitalisation should result in the Group having a debt-free balance sheet with an equity injection of £50 million to enable it to consolidate and expand its position within the offshore inspection, repairs and maintenance and construction markets.At completion of the transaction, Bibby Line Group Limited (BLG) will transfer its entire ownership in Bibby Offshore to the Group’s noteholders.Howard Woodcock, chief executive of Bibby Offshore, said:“This transaction will result in significant investment flowing into the business and will provide the Group with an excellent and robust financial platform from which to continue to weather current market conditions and to capitalise on future opportunities within the offshore services market as it improves over the medium term. The elimination of our debt service burden, when taken together with the benefits of our cost-saving initiatives, will position our business well to maximise cash flow through the current market downturn.“We look forward to continuing to provide a high quality, responsive service safely to our customers. We would also like to thank our customers and suppliers for the loyalty and patience they have shown whilst we have worked to complete this transaction, our existing shareholder BLG, for its cooperation and financial support to date, and our noteholders who have agreed to make a significant financial investment in the Group in order to support the business moving forward.”last_img read more

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USC works to prevent cheating

first_imgAs an investigation into a 125-person Harvard University cheating scandal progresses, a national focus has been placed on concerns about widespread cheating and how to prevent it at universities across the country.At USC, administrators said they deal with cheating through the use of preventative software and academic consequences. Despite this deterrent, there have been 291 reported cases of academic dishonesty during the 2011-12 school year.The most common punishment for cheating is a grade of an ‘F’ in the course, regardless of whether the incident was premeditated or a lapse in judgment, according to Raquel Torres-Retana, the assistant dean of Student Judicial Affairs and Community Standards.The Harvard Crimson reported that nearly half of the 279 students enrolled in a government introductory course last spring are currently being investigated for “allegedly plagiarizing answers or inappropriately collaborating” on last spring’s take-home final exam.Daniel Mathews, a junior majoring in economics, said the cause of cheating could stem from the notion that students have more pressure to do well in school to make their future more secure.“It’s a risk-versus-reward analysis,” Mathews said. “Do the benefits of cheating and doing well on this paper outweigh the risk of getting caught? And for the people who do cheat, the answer is clearly yes.”Kimberly Su, a junior majoring in mathematics, echoed Matthews’ sentiment.“Now, everyone is so focused to get a decent job after you graduate and getting to the next part of their life,” Su said. “For some people, they think cheating gets them to that point.”The cheating scandal at Harvard has triggered awareness at universities across the country, causing schools to look for more stable safeguards against academic dishonesty.At USC’s Gould School of Law, Jane Chang Bright, the assistant director of student computing services, oversees the use of SofTest, a program designed to prevent students from cheating.“The software basically turns your computer into a typewriter, which brings about a secure exam mode. All of our exams are secured,” Chang Bright said. “All of the bar exams, the 42 states that use SofTest — those are all in secure mode. [Students] can’t get to the Internet, can’t get to their online notes, can’t open PDFs, can’t instant message with anybody.”The digital age has brought about new techniques for preventing cheating across campuses, according to Bright.“Now everything is done over the Internet: installations over the Internet, upload of exam files when [students] are done, everything,” Chang Bright said.last_img read more

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Beat writers split on result of Syracuse against NC State

first_img Published on October 24, 2018 at 10:39 pm Facebook Twitter Google+ Syracuse (5-2, 2-2 Atlantic Coast) finds itself in unfamiliar territory as No. 22 North Carolina State (5-1, 2-1) makes the trip to the Carrier Dome this weekend. Syracuse is in striking distance of a bowl game for the first time in five years coming off a 40-37 come-from-behind victory against North Carolina. The Wolfpack, on the other hand, are coming off their first loss of the season, a 41-7 shellacking in Death Valley against Clemson. Saturday’s matchup begins at 7 p.m. on ESPN2.Below, The Daily Orange beat writers make their Saturday predictions.Andrew Graham (6-1)What about the other quarterback?North Carolina State 38, Syracuse 34The Wolfpack comes to the Carrier Dome this Saturday, sorely beaten by Clemson last weekend. The Dome will prove to be no respite, but I think NC State has enough in quarterback Ryan Finley and wideout Kelvin Harmon to leave with a win. Throw in the fact that both of Syracuse’s starting cornerbacks, Chris Fredrick and Scoop Bradshaw, are questionable to go this weekend and the field tilts the Wolfpack’s way. Whether Syracuse starts Tommy DeVito or Eric Dungey, I think North Carolina State will have an answer: Lean on your star quarterback on the road. A Syracuse defense prone to big plays gives up one too many and the bowl watch shifts to Winston-Salem, North Carolina.Matt Liberman (5-2)All bark no biteSyracuse 38, NC State 35AdvertisementThis is placeholder textLooking at this game between Syracuse and NC State one thing sticks out: The Wolfpack offense is very strong. With Ryan Finley under center and three strong wide receivers, headed by an all-conference talent in Kelvin Harmon, I don’t think there’s any doubt the NC State offense can overpower the SU defense. In any other conditions aside from a Saturday night in the Dome, I think this is a win for the Wolfpack. That said, NC State hasn’t beaten anyone particularly strong this season, and in its one challenge thus far, Clemson demolished the Pack down in Death Valley. The Dome will be rocking Saturday night to the tune of thousands. The noise echoing throughout those concrete walls will disrupt the NC State offense, and Syracuse will take advantage, going to its first bowl game since 2013.Josh Schafer (6-1)Back to the Pinstripe BowlSyracuse 45, NC State 37Dungey or DeVito? As long as that question doesn’t distract Syracuse, which the team claims it hasn’t, the Orange can continue riding the wave from its double-overtime victory a week ago. If Syracuse wins a game in the Dino Babers era, it’s always high scoring, and that’s what both teams’ defenses allow for in this matchup. Syracuse ended the North Carolina game on a high note and looked every bit of the team that opened the season 4-0. With a night game atmosphere at home, Syracuse will need to score early to keep the Dome a hostile environment. A weak pass defense from North Carolina State, which ranks in the bottom 30 in the country, allows that, and the Orange prevail in a close game. Commentslast_img read more

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Project11 extends West Bromwich Albion partnership

first_img Related Articles Plus500 named as the main sponsor of Legia Warsaw August 10, 2020 StumbleUpon Submit Share Betway and Dafabet grow La Liga sponsorship portfolios August 14, 2020 Share Winamax maintains Granada CF sponsorship despite bleak Spanish outlook August 19, 2020 Project11 has announced the renewal of its existing contract with West Bromwich Albion Football Club. As part of the deal, the London-based Sports Marketing company will continue to gain access to some of the most in-demand perimeter LED advertising space in football, namely the English Premier League.  Renewing the agreement until the end of the 2019/20 season, Project11 has stated it’s looking forward to extending rights further and continuing to further building on a successful relationship with West Bromwich Albion.Partner at Project11, Scott Taylor, spoke of the long-running partnership: “We value West Bromwich Albion greatly as one of our Premier League club offerings. Project11 currently hold perimeter rights to four clubs within the Premier League, with more on the horizon.  We have enjoyed seeing the historic West Bromwich Albion grow with new ownership and a passionate fan base. This extension is another great signing for Project11.”After finishing in the top 10 last season, The Baggies boast a global name with the club’s popularity rapidly growing around the world. The acquisition of West Bromwich Albion in 2016 by Chinese entrepreneur, Guochuan Lai, controlling shareholder and Director of sports development company Yunyi Guokai, has proven to be a driving force in the club’s success, showing no signs of slowing down anytime soon, with the introduction of ‘soccer towns’ across Asia in discussion. This strategy to grow the club’s following, influence and fan base throughout Asia is already proving popular, with the Youth Academy set to become a key feature in multiple locations, giving more fans than ever before the opportunity to get closer to the club and become increasingly involved at a grassroots level. Simon King, Chief Commercial Officer at West Bromwich Albion Football Club, commented: “We are delighted to have extended our agreement with Project 11 and look forward to working with them in future.”The deal follows on from Project11 extending its portfolio, with the addition of  of 22 home and away Atlético Madrid fixtures, a deal that enables brands to benefit from more La Liga advertising opportunities than ever before.last_img read more

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First ever Irish Responsible Gambling Week branded a success

first_img Submit StumbleUpon Irish bookmakers to reopen on 29 June May 28, 2020 Share Irish bookmakers demand clarity on reopening orders June 17, 2020 Paddy Power to reopen English & Irish betting shops in Royal Ascot week June 10, 2020 Share Related Articles Last week Irish betting operators came together for what was deemed a largely successful initiative, in the inaugural Responsible Gambling Week Ireland.The week was centered around the theme of raising awareness of knowing when to stop, as well as aiming to open dialogue about what it means to gamble responsibly.Sharon Byrne, Chairperson for the Irish Bookmakers Association told SBC: “The aim of the campaign was to spread the message that gambling is supposed to be safe and fun, and also about letting people know that there are support and services available for those who may need it.“We are very happy that the campaign received Nationwide coverage, and that the race tracks, dog tracks, Irish coursing club, gaming clubs, and Amusement association came on board too.  With all participants helping to spread the message to their customers it gave us more reach than ever before.”Looking ahead, she added: “We certainly intend to run it every year, and when the IBA next meets in March, we will decide whether it should run the same week as the campaign in the UK, or whether to keep the Irish week separate.  We hope to improve the campaign next year, by including a Live online chat service throughout the week, and by running some information days around the country, possibly in partnership with some other organisations.“We are also watching the development of the GamStop online central exclusion scheme in the UK closely, and would hope to follow suit with an Irish version shortly after the UK model goes live.”Sharon will be further discussing responsible gambling at the Betting on Football Conference, she will be discussing how operators can increase responsible gambling as part of The Customer Journey track. To find out more about the event click here.last_img read more

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Elvis Džombić – Sportingtech – The power of the Pulse platform

first_img StumbleUpon David Webb, BetConstruct: Why meeting new regulations is the industry’s big challenge for 2019 April 4, 2019 Having only launched in 2017, Sportingtech is a relatively new player in the industry preparing to showcase its online gaming platform at this week’s Betting on Football.On the eve of the show, we spoke to Head of Business Development Elvis Džombić about Sportingtech’s USP, the developing partnership with Income Access, and the importance of building a platform that is compatible with a diverse set of third party tools.SBC: As you have developed the range of Sportingtech products, what markets and gaming verticals have you placed the biggest emphasis on?ED: I would outline our core product. The Pulse Platform is a very powerful system that demonstrates great stability, high performance, possibilities for customizations, great tools for managing all the operational activities for bookmakers, casino operators, and many more.We generally put our emphasis on the approach to the regulated and emerging markets in Latin America, Africa and Europe considering our turnkey offering for the online bookmakers and casino operators. In addition, we support projects where our clients only require certain areas of our technology, meaning that they can remain independent and able to manage operations themselves.Furthermore, the sports betting and casino verticals in our portfolio are expanding on a daily basis. We can offer the most competitive, attractive and high-value products to our clients and help them dominate their markets.SBC: Sportingtech was founded in 2017; once you establish yourself in the industry, what do you envisage being your biggest USP (Unique Selling Point) to online gambling operators?ED: Platform flexibility is our greatest USP as we have the ability to offer what other platforms cannot. This flexibility has its greatest value in the core of the Sportsbook engine which allows us to tailor our system to individual client needs.Depending on specifics; clients can manage their own risk analysis and trading activities, or we can take care of this to enable our client to focus on acquiring new players, marketing activities and so on.There is a fantastic Web Management module that gives the clients full control over the front-end part of their website. I would say these two are the biggest advantages that we proudly offer, expertly combined with other tools to create a positive difference.SBC: How pleased have you been with the first three months of your partnership with Income Access?ED: We are thrilled to be working with Income Access, one of the most renowned affiliate systems in the industry. Operators can increase their business performance by using the affiliate network, and we want to provide them with the second to none solutions. Income Access definitely has one of them.During these first months, we have been extremely satisfied. So far about 30% of our clients opted to use Income Access services and network. The exceptionally professional team provide training for its software in order to help set up foundations for a successful operator.We are yet to see the first results as some of the accounts are still in the process of setup, and we have no doubt that satisfaction will be mutually enjoyed. All of our clients have the option to choose Income Access for its fabulous network.SBC: How important is it for platform providers to be compatible with a diverse set of third party tools, for example CRM systems, business intelligence, AI, player tracking etc.?ED: Indeed, it is very important due to the fact that online operations can become very complex in terms of system requirements, the amount of data required and increasingly challenging markets.Nowadays, platform providers differentiate between areas of processing, storing and visualizing the data on behalf of clients. Furthermore, clients themselves are searching for better technology that is user friendly, meaning that the information can be found or generated in a simple and effective way.Here at Sportingtech, we have developed an ‘integration’ ready platform that can serve as the hub for a number of 3rd party software solutions, set to ease the operational processes. The factors mentioned in the question relate to the player data management, and I can confirm that some of these are already in-house developed solutions within our platform.Respecting the continuous development of the other providers and companies that specialize in iGaming software solutions, we will also continue to look at new innovations that can relate to products, to enhance the overall quality and performance of the Sportingtech platform.SBC: What are your key targets for the rest of 2018?ED: We have already signed several strategic partnerships for the South American and African regions, which are currently in the process of technical implementation. Certainly, the goal is to deliver these projects within our deadlines and to successfully set up operations within the framework of the business goals.We also confirmed our attendance at the most important regional industry events which proved great preparation to showcase and finalize new agreements with clients from the areas mentioned above. In terms of product development, we are currently working on a number of major projects to help further optimize the platform’s functionalities, developing new high-level capabilities that will ultimately allow continuous business development and growth.Catch up with the Sportingtech team at Betting on Football this week – booth 26. Share Sportingtech to show Pulse power in Uganda through BetOn August 15, 2019 Share Submit Related Articles SBC’s Year In Review: March 2019’s big betting news December 23, 2019last_img read more

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What’s in your water? A PFAS special report

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisWhat’s going on in Oscoda Township has been compared to the Flint Water Crisis. Our reporter Elijah Baker traveled to one of the most contaminated counties in the State of Michigan affected by PFAS, a family of man-made chemicals harmful to the human body and environment.Facebook | https://www.facebook.com/WBKBTV/ Twitter | https://twitter.com/WBKB11 Instagram | https://www.instagram.com/wbkbtv/AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisContinue ReadingPrevious Hogs take the spotlight at the Alpena County Fair, 4-H Club celebrates first ever reunionNext Dogs and hot cars – A deadly combinationlast_img

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MLBPA monitoring Blue Jays, Vladimir Guerrero Jr. and ‘service-time manipulation’

first_imgAs Vladimir Guerrero Jr. remains in the minors to start the 2019 season, the Major League Baseball Players Association wants to make sure the Blue Jays aren’t manipulating the young slugger’s service time.Despite slashing .381/.437/.636 with 20 home runs in the minors, Guerrero didn’t get a September call-up, which caught the attention of the players’ association. Keeping Guerrero in the minors delays his accumulation of service time at the MLB level, which would delay his elgibility for free agency in a few years.The MLBPA will continue to monitor how Blue Jays’ management handles Guerrero’s delayed promotion to the big leagues. Tony Clark, the executive director of the players’ union, is scheduled to visit Blue Jays’ spring training camp at some point in March. He has stated in recent weeks that the service-time manipulation is “getting in the way of our game.” MLB hot stove: Blue Jays sign pitcher Clay Buchholz “It’s something we are following and it’s going to be an issue,” an anonymous players association source told The Toronto Sun on Thursday. “Service-time manipulation has been a prominent theme that the players association has emphasized in its talks with Major League Baseball.“It’s fair to say it has been a prominent issue raised by the players association.” Related News Jays general manager Ross Atkins addressed Guerrero’s future earlier this week on MLB Network Radio, saying he doesn’t believe the Dominican-raised phenom is ready to be promoted yet.“Our vision is it really comes down to development, so I just don’t see him as a major league player, right? He’s 19,” Atkins said.“We’re just trying to maximize and do everything that we can to do what’s best for him,” he continued. “We genuinely feel it would be a disservice to the organization and to Vladdy if we weren’t thinking about it that way, to maximize his full potential.”last_img read more

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Mesud Pezer broke a 33-year BiH record in the Shot Put

first_imgThe best Bosnian and Herzegovinian shot put athletes Mesud Pezer and Nermin Stitkovac set new national records in the senior and junior categories.At the Republika Srpska Championship in Sokolac, Pezer and Stitkovac achieved extraordinary results that set them apart from their colleagues.Pezer achieved the result of 21,43 m and broke a 33-year-old record set by Zlatan Saraevic, which was 21.11 m (1984). The 22-year-old member of the Athletic Club of Zenica demonstrated excellent form prior to his debut at the World Championship, which starts next week in London.Pezer’s records are among several of the best results in the history of BiH athletics, the others being Amel Tuka’s record of running 800 m (1:42.51) and Elvir Krehmic in high jumps (2.31 m).The 17-year-old member of Athletic Club Sarajevo threw 20,75 m, which is 13 cm longer than the current record, which was also his.(Source: Klix.ba)last_img read more

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