Tag: 上海夜网HW

German companies reluctant to provide data to EIOPA, aba warns

first_imgThe European Insurance and Occupational Pensions Authority’s (EIOPA) controversial stress tests for IORPs not only “lack legitimacy”, according to Heribert Karch, chairman of German pension association aba, but will also spread “unease” among German companies.Even before the final specifications for the stress tests were released today, German stakeholders had been very critical of the proposals.  In a statement, the aba argued that the holistic balance sheet approach was, in principle, a “disproportionate copy/pasting of the Solvency II regulations onto IORPs”.But the pension fund association also claimed that German companies felt “unease” about having to forward potentially sensitive data to EIOPA. “Trust is built mainly by positive experience,” the association noted in the paper, suggesting German companies’ relationship with EIOPA has not been entirely positive.In previous quantitative impact studies, German supervisor BaFin collected the data and sent it to EIOPA only after consolidating it.Under the scheduled stress tests, however, all participating IORPs will have to forward information directly to EIOPA, including that of individual member companies, some of which are listed.Further, the aba said the quantitative assessment – to be conducted alongside the stress tests but on a voluntary basis – would yield “much less representative results” for Germany than the first ones in 2012.Given the considerable efforts made and costs incurred by German IORPs after the 2012 assessment, any “willingness to participate is much lower”, it warned.The aba also argued that the ramifications of European Central Bank’s monetary policy had been clear, even before the quantitative assessment.“The victims of the current ECB monetary policy are those that are saving in a funded pillar or have done so in the past,” it said.last_img read more

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Impairments drag Subsea 7 into the red

first_imgSubsea engineering and construction company Subsea 7 booked a loss in the last quarter of 2019 largely due to a $100 million impairment charge as its revenues dropped compared to the prior-year period.Seven Pacific; Author: Alan JamiesonThe company on Wednesday posted the fourth quarter 2019 revenue of $889 million compared to revenues of $1.023 billion in the same period of 2018.According to the company, fourth-quarter revenue was 13% lower than the prior-year period reflecting lower activity levels in Africa and Renewables and Heavy Lifting.Subsea 7’s net loss in the fourth quarter of 2019 totaled $129 million, compared to a profit of $32 million in 4Q 2018.A goodwill impairment charge of $100 million was recognized in the Renewables and Heavy Lifting business, reflecting near-term weakness in the wind turbine foundations market.Net loss, excluding the goodwill impairment charge, was $29 million. Excluding the goodwill impairment charge, adjusted diluted earnings per share was a loss of $0.12 compared to earnings per share of $0.12 in the same period last year. The reduction from the prior year was driven by impairment charges totaling $70 million mainly relating to two older vessels that are candidates for disposal.The company’s order intake totaled $3.9 billion in the year. Order backlog increased to $5.2 billion at the year-end, with $3.3 billion expected to be executed in 2020.Subsea 7 said that the continued improvement in the deepwater oil and gas markets this year had supported increased tendering activity and a gradual improvement in pricing compared to 2018.While demand for offshore wind turbine services is growing in support of the transition to low carbon energy production, continued competition in the foundations market continues to negatively impact pricing, but this is expected to improve in the longer-term as the market rebalances, the company said.Guidance for full-year 2020 is unchanged with both revenue and Adjusted EBITDA expected to be higher than in 2019, driven by an increase in activity in key markets.Offshore Energy Today StaffSpotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product, or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.last_img read more

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Sherwood: Agbonlahor key for Villa

first_imgTim Sherwood has called on Gabriel Agbonlahor to repeat his derby heroics and insisted he is crucial to Aston Villa’s survival bid. The forward scored just his fourth goal of the season in Villa’s 2-1 win over West Brom on Tuesday, which lifted them out of the Barclays Premier League relegation zone. They face the Baggies at Villa Park again on Saturday in the FA Cup quarter-final following Christian Benteke’s last-minute penalty winner. Press Association “He’s had a lot of games now, a lot of experience, and I’m saying: ‘Just go out there and play where you think you can hurt them, you take up positions’. “I brought Sandro back into the team (last season) to sit in that pivot, everyone else went forward. We had three defenders to look after the counter-threat of Agbonlahor.” Sherwood is without the suspended Alan Hutton but could welcome back Ron Vlaar after a calf problem, with the skipper being assessed. Aly Cissokho, Kieran Richardson and Nathan Baker are out but Sherwood will take a repeat of Tuesday’s drama against the Baggies. He added: “If I knew the outcome of the script, I would have taken that, win 2-1, local derby, 94th minute, two strikers scoring, blooding a young kid (Jack Grealish) for 35 minutes – the longest he’s played on the pitch – I don’t think I could have dreamt it up.” Agbonlahor has been criticised for inconsistent performances in recent years but Sherwood believes he can now be Villa’s trump card. He said: “It’s about this time when Gabby normally comes out and starts keeping this team in the league. “I had a lot of chats with him, a lot of chats with Christian and every player. The strike partnership outside the top six, they’ve got to be the best two. “But on paper doesn’t make any difference, you have to go and prove it and go and do it. “It shouldn’t be ignored and I think it was appreciated by the fans the other night, they were singing his name, you can’t imagine how much players grow from that. I’ve managed one of the hottest strikers in English football at the moment, Harry Kane, he had to win over those Tottenham fans.” Sherwood wants to tap into Agbonlahor, Villa’s record Premier League goalscorer with 70, and admitted he made special plans to combat the 28-year-old while Tottenham boss last season. “Absolutely,” he said, when asked whether he identified Agbonlahor as key to Villa. “Every game I’ve told him to play on the shoulder and look to get in behind, because once he gets in behind you he’s very quick and hard to stop. last_img read more

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Time Machine (1992): Basketball tournament play forbidden for Orange

first_img Facebook Twitter Google+ Editor’s note: The article below is a republished story from The Daily Orange’s Oct. 1, 1992 edition. Then-sports editor Josh Barnett wrote it on the NCAA sanctions imposed against Syracuse after violations regarding SU’s men’s basketball, women’s basketball and football teams were released in a report.The NCAA is set to release the results of its investigation into Syracuse athletics at noon on Friday. The Syracuse University men’s basketball team will not participate in this season’s NCAA Tournament as part of a two-year probation imposed on SU athletic programs by the NCAA Committee on Infractions.The committee informed the university Wednesday and then announced its ruling Thursday morning at its offices at Overland Park, Kan.The probation stems from violations found in men’s basketball, lacrosse, wrestling, football and women’s basketball.AdvertisementThis is placeholder text“We’re happy to see this is over and we can go on and know what’s ahead of us,” Syracuse men’s basketball coach Jim Boeheim said. “I think the most difficult thing was not knowing what’s going to happen.”Shaw said Wednesday that Syracuse will not appeal the NCAA decision.Along with a ban from the NCAA Tournament, the Orangemen will lose one scholarship in each of the next two seasons.Syracuse coaches also will not be allowed to recruit off campus from Jan. 1, 1993, to June 30, 1993. From July 1 through Dec. 31, only one coach can travel at a time for recruiting.SU will also be forced to reduce the number of official recruiting visits from 15 to nine for one year beginning Nov. 13. Syracuse can increase the number of visits to 13 for the following year.Boeheim said Syracuse has already lost two recruits this year because of the looming sanctions.Rather than going through a hearing before the Committee on Infractions, Syracuse requested a summary disposition and on June 9 proposed voluntary penalties.“It’s a far superior way to do it,” Syracuse Chancellor Kenneth A. Shaw said of SU’s choice to use the new process. “We were willing to be the guinea pig. This is a more humane way of doing this.”Syracuse is the first school to undergo summary disposition.The committee ruled the violations resulted from a lack of institutional control, but would not place individual blame on either Athletic Director Jake Crouthamel or Boeheim.“I think the basketball coach should have been aware some of these problems were occurring. Institutional control is an institutional matter rather than an individual matter.“There was a lack of institutional control as far as what was going on in the men’s basketball program,” said David Swank, chairman of the Committee on Infractions and dean of the University of Oklahoma School of Law.“We believed (violations) couldn’t happen here,” Shaw said. “We believed everything could be handled informally and we were wrong.“Clearly our compliance efforts did not keep pace with the regulations stipulated by the NCAA.”Syracuse’s cooperation with the enforcement staff was a factor in the NCAA ruling, Swank said.“The actions of Syracuse actually were very important in adopting the penalty structure,” he said. “If not for their cooperation, the penalty would have been much greater.”Syracuse had proposed to donate $346,286, the amount of money SU would have received for playing in the NCAA Tournament, in lieu of the ban. Syracuse proposed one year of probation and proposed no recruiting or scholarship restrictions.Shaw said SU was hoping the contribution would limit the impact the sanctions would have on players.“We not could not accept that penalty,” Swank said. “It’s a commendable idea, but it’s not within the penalty structure of the NCAA.”The committee did not accept Syracuse’s proposed penalties and ordered an expedited hearing to determine violations Aug. 8.The Committee then imposed minimum penalties as prescribed in the NCAA Bylaws.In penalizing the university, the committee also found violations in football and women’s basketball.Football violations included free or reduced-rate meals to players by area merchants. The football program also exceeded its scholarship limitations.Two women basketball players received gifts of clothing and free services from area merchants.No sanctions were imposed upon the women’s basketball or football programs.Compiled by Matt Schneidman, asst. sports editor, [email protected] Comments Published on March 6, 2015 at 10:56 amlast_img read more

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Former Racers athlete to wear UK’s colours

first_imgLONDON, England (CMC):British athletics authorities have confirmed the transfer of Antigua and Barbuda sprinter Miguel Francis to represent the United Kingdom.The 22-year-old, who was born in Montserrat but represented Antigua, applied for the transfer prior to the Rio Olympics and is now eligible to turn out for his new country “with immediate effect”.”British Athletics can confirm it has received confirmation from the IAAF that Miguel Francis is eligible to compete for the British Athletics team with immediate effect,” a statement from British Athletics said recently.”Francis started the process to transfer allegiance from Antigua & Barbuda in August 2016, prior to the Olympic Games in Rio, and is now eligible to compete subject to meeting the required selection criteria for a Championships team.”Track and field’s world governing body, the IAAF, announced last February it had frozen all new applications for transfers of allegiance.Francis was eligible to compete for Britain by virtue of having been born in Montserrat, a British overseas territory.A former training partner of sprint legend Usain Bolt under coach Glen Mills, Francis turned out at the 2014 Commonwealth Games and the 2015 World Championship in Beijing.Only last year, he set a new Antigua national record in the 200 metres, clocking 19.88 seconds at the Racers Grand Prix in Kingston.last_img read more

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