Easynet pulls plug on Hanover Street headquarters move

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

PPV market treble quoted sector

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

USA beats Canada 3-0 in CONCACAF Olympic qualifying final

first_imgThe United States beats Canada 3-0 on Sunday in the final of the CONCACAF women’s Olympic qualifying tournament, a last formality for the team that booked its 2020 Tokyo berth with semi-final victory.The World Cup champion United States had punched its ticket to Tokyo with a 4-0 victory over Mexico, while Canada secured its spot with a 1-0 win over Costa Rica.With North American bragging rights on the line, Lynn Williams, Lindsey Horan and Megan Rapinoe scored for the United States, who is unbeaten in 28 games. They didn’t conceded a goal in five tournament matches, outscoring opponents 25-0.”I think this is our expectation, we go into every tournament with the pressure to win,” said Christen Press. “The most important thing is to qualify. We’re super-excited, we’re proud of ourselves for that and then to top it off with this game is excellent for us.”Press fired a shot off the crossbar in the 32nd minute and Canadian striker Christine Sinclair’s shot six minutes later was stopped by US keeper Alyssa Naeher.Williams broke the stalemate in the 60th minute, seizing upon an error by Canada’s Jayde Riviere and firing into the upper corner. Horan made it 2-0 in 71st and Rapinoe, subbed in in the 62nd minute, capped the scoring in the 87th with an easy finish against a clearly flagging Canadian side.The United States has played in every Olympics since women’s football was added to the program in 1996.The team has won four gold medals, but is out for redemption after being knocked out of the quarter-finals by Sweden in Rio in 2016.Canada, meanwhile, will be gunning for a third straight podium finish in Tokyo, after earning bronze in London in 2012 and Rio.center_img Topics :last_img read more

Govt to expand social aid, incentives to boost household demand, economy

first_imgThe government is planning to expand its social aid program and incentives for micro, small and medium enterprises (MSMEs) in an effort to boost consumer spending and revive the sluggish economy in the second half of this year, as fears of a recession loom.Finance Minister Sri Mulyani Indrawati said on Wednesday the government would reallocate around Rp 70.8 trillion (US$4.85 billion) from existing ineffective stimulus packages to fund the social aid expansion and new incentives so that the government would not need to increase its COVID-19 response budget, already worth Rp 695.2 trillion.“This will include extending the social aid program period to December to cushion the impact of the COVID-19 pandemic,” she said during a livestreamed press conference. The government is preparing aid for workers with salaries lower than Rp 5 million per month and allocating an estimated budget of Rp 31.2 trillion for such aid.State-Owned Enterprises (SOEs) Minister Erick Thohir, who serves as executive chairperson for the national economic recovery and COVID-19 response team, further explained in a statement on Thursday that the aid for workers would be in the form of direct cash transfers.The aid would be focused on 13.8 million workers registered on the Workers Social Security Agency (BPJS Ketenagakerjaan) database who are not civil servants or SOEs employees.“The workers will receive Rp 600,000 per month for four months, disbursed directly to each worker’s bank account every two months to prevent misuse,” said Erick. “This program is currently being finalized so it can be carried out by the Manpower Ministry this September.”Sri Mulyani also said the government would offer electricity and tax incentives for businesses and industries as well as productive aid for ultra-micro and micro businesses to support the supply side and help businesses to reduce their production costs.The electricity incentive will be in the form of a minimum billing waiver for businesses, industries and social sectors while the tax incentive will take the form of 50 percent corporate income tax discount from the previous 30 percent cut.“We will also disburse aid to 12 million MSMEs with a total budget of Rp 30 trillion,” she said, stressing that the aid was meant for productive use and was not in the form of loans.The expansion, however, comes with a drawback as the government will reduce the amount of cash transfers for underprivileged families by half to only Rp 300,000 per month per family.The expansion in social stimulus would boost purchasing power and bolster household spending in the second half of the year, said Bahana Sekuritas economist Satria Sambijantoro, despite projecting that Indonesia’s economy would likely see another contraction in the third quarter.“The possible backload of stimulus could be a blessing in disguise for the economic outlook in the second half of 2020,” he wrote in a research note.The inclusion of low-income formal workers in the social aid program, along with the distribution of salary bonuses for civil servants and low-income formal workers, would cut through the red tape in budget disbursement, he said.“We think household spending growth will continue to surpass investment growth for the rest of 2020,” said Satria.SMERU Research Institute researcher Ruhmaniyati, however, frowned upon the idea of aiding formal workers with monthly fixed income as the government should help informal workers instead.“There are still a lot of families with an income of less than Rp 5 million a month that work in the informal sector and need the aid,” she told The Jakarta Post on Thursday.Institute for Development on Economics and Finance (Indef) executive director Tauhid Ahmad echoed the sentiment, saying the aid for low-income workers was mistargeted.“They are not poor. The aid could potentially sit in saving accounts as those workers hold back on spending,” he said. “This can create a detrimental effect on the economy and trigger a recession in the third quarter.”Topics : Indonesia’s gross domestic product (GDP) shrunk 5.32 percent year-on-year (yoy) in the second quarter as all components except for net exports fell annually as a result of the pandemic.Consumer spending, which accounts for more than half of GDP, fell 5.51 percent yoy in the second quarter, while investment, the second-largest contributor, contracted 8.61 percent.Sri Mulyani expects the economy to grow at no more than 0.5 percent, or even contract further, in the third quarter, which would mean a recession for Indonesia, while fourth-quarter GDP growth is projected to be near 3 percent, making for a full-year expansion of zero to 1 percent.Under the plan, the government will allocate Rp 4.6 trillion to increase the amount of rice for the 10 million recipients of the Family Hope Program (PKH) to 15 kilograms per month. It would also disburse Rp 500,000 to 10 million Staple Food Card recipients this month.last_img read more

MAKI demands Firli’s demotion if found guilty of ethics violation

first_imgAn antigraft watchdog has urged the Corruption Eradication Commission (KPK) Supervisory Council to demote chairman Firli Bahuri if he is proven to have violated the KPK’s code of ethics with his alleged “hedonistic lifestyle”.The Indonesian Anti-Corruption Community (MAKI) filed a report against Firli for using a private helicopter to take a personal trip from Palembang, North Sumatra, to his hometown of Baturaja in the same province in June.“If he violated the KPK code of ethics, he should be demoted to deputy chairman,” MAKI coordinator Boyamin Saiman said during a hearing on the case on Tuesday. Topics : Boyamin said the council had asked him to prove MAKI’s complaints, including details on the alleged helicopter ride and a photograph of Firli without a face mask and therefore, violating, COVID-19 health protocols.He claimed that based on the registration number, the helicopter had been used by a “high-ranking official” on a trip from Surakarta, Central Java, to Semarang in the same province in 2015. He also refuted Firli’s previous claim that had taken a helicopter to save time, saying that a trip from Palembang to Baturaja would take three to four and a half hours by road.During the hearing, Boyamin also that Firli claimed he paid for the helicopter service with his own money after previous concerns that the ride, estimated to cost up to US$1,400 an hour, was an illicit gift given by another party.Firli declined to answer reporters’ questions after the hearing, saying he had given all the necessary information to the supervisory council.He had denied the alleged ethical violations on Monday, claiming he had taken the helicopter to support his work and not for personal use. He added that he made enough money to pay for the ride.Based on a 2015 government regulation on the financial, protocols and security rights of KPK commissioners, the chairman of the antigraft agency earns a total salary of Rp 123.93 million (US$  8,449) per month, including allowances.Tumpak and other council members were not immediately available for comment regarding the hearing.Boyamin also expressed his appreciation of the supervisory council for swiftly handling the complaint, adding that prior to its establishment in 2019, the KPK’s internal supervisory unit could take more than a year to follow up on reports of ethics violations.center_img The helicopter trip, he argued, indicated Firli’s “hedonistic lifestyle” and went against KPK rules prohibiting its leaders from indulging in luxury.In addition to hearing Boyamin’s testimony, council members also summoned Firli to provide an explanation.Supervisory council chairman Tumpak Hatorangan Panggabean led the hearing.Read also: ‘My salary is enough to rent a helicopter’: KPK chair Firli Bahuri denies violating ethicslast_img read more

FA Cup fifth-round draw: Chelsea potentially face Liverpool; Wayne Rooney could play against Manchester United

first_imgAdvertisement FA CUP FIFTH-ROUND DRAW IN FULL Sheffield Wednesday v Manchester CityReading or Cardiff v Sheffield UnitedChelsea v Shrewsbury or LiverpoolWest Brom v Newcastle United or OxfordLeicester v Coventry or BirminghamNorthampton or Derby v Manchester UnitedSouthampton or Tottenham v NorwichPortsmouth v Arsenal ‘I said to the boys already two weeks ago that we will have a winter break, which means we will not be there,’ said Klopp.‘You cannot deal with us like nobody cares about it. I know that it’s not very popular but that’s the way I see it.‘The Premier League asked us to respect the winter break. That’s what we do. If the FA doesn’t respect that, then we cannot change it. We will not be there.’More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityElsewhere, Manchester City travel to Sheffield Wednesday, while Arsenal face a trip to Portsmouth after they beat Bournemouth on Monday evening.Jose Mourinho’s Tottenham must beat Southampton in a replay to progress and they will face Premier League relegation battlers Norwich City in the next round.The eight ties will be played across three midweek evenings between March 3-5 and will have no replays.More: Manchester United FCRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseEx-Man Utd coach blasts Ed Woodward for two key transfer errors Metro Sport ReporterMonday 27 Jan 2020 7:30 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link3.6kShares Commentcenter_img Chelsea, Manchester United and Man City are definitely in the FA Cup fifth round (Getty Images)Chelsea will potentially face Liverpool at Stamford Bridge in the FA Cup fifth round, while Wayne Rooney could come up against Manchester United as Ole Gunnar Solskjaer’s men will play either Northampton or Derby.Liverpool were held to a 2-2 draw by Shrewsbury Town on Sunday and must now beat the League One club in a replay at Anfield in order to progress.However, Jurgen Klopp has caused controversy ahead of the replay by claiming that no first-team players will be available for the match, while he will be replaced on the touchline by the club’s under-23s coach Neil Critchley.AdvertisementAdvertisementThe fourth round replays are currently scheduled for February 4 and 5, which means they will take place during the Premier League’s newly introduced winter break which runs from February 2 to February 16.ADVERTISEMENT FA Cup fifth-round draw: Chelsea potentially face Liverpool; Wayne Rooney could play against Manchester United Advertisementlast_img read more

Paulo Fonseca sends message to Roma chiefs amid Arsenal talks with Justin Kluivert

first_imgAdvertisement Paulo Fonseca sends message to Roma chiefs amid Arsenal talks with Justin Kluivert Comment Metro Sport ReporterTuesday 16 Jun 2020 9:23 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link2.1kShares Kluivert is linked to Arsenal (Picture: ANP Sport via Getty)Roma manager Paulo Fonseca has urged his bosses not to sell Justin Kluivert to Arsenal amid reports he will be used in a deal to sign Henrikh Mkhitaryan.Fonseca insists Kluivert, the son of Barcelona legend Patrick, is a player he is ‘counting on for the future’. It’s been reported that Arsenal have opened talks with Roma to land Kluivert as part of a deal that would see Mkhitaryan move permanently to the Serie A side. Mkhitaryan has spent the season on loan at the Stadio Olimpico and is keen to extend his stay in Rome. ADVERTISEMENTArsenal are willing to sell him or agree terms over a new loan deal, but both clubs are leaning towards a swap deal. AdvertisementAdvertisementMkhitaryan is valued at £13million, with Roma wanting around £36m for Kluivert, meaning the Italian side would expect a fee of more than £20m to sanction the deal. Mkhitaryan is set to join Roma on a permanent basis (Picture: Soccrates/Getty)Kluivert, 21, has been linked to Manchester United in the past and reportedly turned down a move to Old Trafford in order to sign for Roma from Ajax, but he could now arrive in the Premier League this summer.However, Fonseca has urged his bosses not to sanction a deal to let him leave the club.‘They’re different,’ Fonseca told Publico.pt when asked to compare Kluivert to his father Patrick.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal‘His father was a great player, a great striker. Justin has what it takes to be as good as him.‘He’s one of the young players that Roma are counting on for the future.’Should Arsenal sign Justin Kluivert?Yes0%No0%Share your resultsShare your resultsTweet your resultsMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City Advertisementlast_img read more

Governor Wolf Writes PA Delegation Regarding CBO Analysis of Ceasing Payments for Cost-Sharing Reductions

first_img Healthcare,  National Issues,  Press Release,  Public Health Harrisburg, PA – Governor Tom Wolf today issued the following statement on the Congressional Budget Office’s analysis of the potential impact of terminating payments for cost-sharing reductions:“Non-partisan experts at the Congressional Budget Office (CBO) confirmed concerns that I, other bipartisan governors, regulators, insurers, consumers, and Insurance Commissioner Miller have voiced for months. If cost-sharing reduction payments are not paid to insurers, consumers in Pennsylvania and around the country could see premiums increase by an additional 20 percent.“The CBO also estimates that failing to make payments for cost-sharing reductions would cause insurer exits that would leave portions of the country without options for individual health insurance in 2018 due to uncertainty in the market.“Commissioner Miller has written to Secretary of Health and Human Services Tom Price multiple times over the past few months stressing the seriousness of the situation at hand. Commissioner Miller has been working to stabilize our individual markets, and our insurers are seeing progress. But failing to commit to paying cost-sharing reductions increases uncertainty and could undermine that progress.“These are outcomes that the Trump Administration and Congress can avoid. The Trump Administration should guarantee payment of cost-sharing reductions for the remainder of 2017 and all of 2018, and Congress should appropriate funds for these payments so our insurers can have certainty that will save consumers around the country from significant premium increases.“It is imperative that we do not waste this opportunity. Congress and the Trump Administration must act now or Pennsylvanians and consumers around the country who will bear the cost of that indecision will know who failed to protect them.”Gov. Wolf also sent a letter to the Pennsylvania delegation in D.C, urging them to take action now to avoid significant rate increases, adding that “The president’s behavior on this issue is creating serious uncertainty. I cannot stress enough how harmful that uncertainty could be to Pennsylvania consumers, particularly those who do not receive financial assistance to help pay their health insurance premiums.“If President Trump elects to discontinue cost-sharing reduction payments, insurers will be forced to increase their rate requests, or choose to sell plans off-exchange only, or remove themselves from the individual market completely. Any and all of these results would jeopardize access to quality, affordable coverage for the 506,000 Pennsylvanians who purchase coverage on the individual market and the 340,000 who receive subsidies to help afford this coverage.“President Trump has ignored the pleas of governors, regulators, and insurers to protect individual market consumers, but Congress can make things right. Appropriating funds for the remainder of 2017 and all of 2018 would provide certainty that insurance companies so desperately need and that could provide relief for consumers who benefit from access to health insurance made available by the individual market.”Read full text of the letter below. You can also view the letter on Scribd and as a PDF.Dear Representative/Senator,When Pennsylvania’s individual market insurers filed rates for 2018 plans, they did so assuming the Affordable Care Act would be enforced as it stands today. This includes proper enforcement of the individual mandate and payments for cost-sharing reductions.Hundreds of thousands of Pennsylvanians rely on the health insurance marketplace for their coverage, and I implore you to support fully funding payments for cost-sharing reductions for the remainder of 2017 and all of 2018.If Congress does not appropriate the cost-sharing reduction funds, Pennsylvania’s individual market insurers will be forced to rely on President Trump, who is unable to make more than a month-to-month commitment to payments or who threatens to discontinue them altogether.The president’s erratic behavior on this issue is creating serious uncertainty. I cannot stress enough how harmful that uncertainty could be to Pennsylvania consumers, particularly those who do not receive financial assistance to help pay their health insurance premiums.If the Pennsylvania Department of Insurance does not allow our insurers to increase their rate requests to reflect this uncertainty, we risk insurers choosing to sell plans off-exchange only or removing themselves from the individual market completely. This would jeopardize access to quality, affordable coverage for the 506,000 Pennsylvanians who purchase coverage on the individual market and the 340,000 who receive subsidies to help afford this coverage.The Congressional Budget Office’s scoring of a marketplace without cost-sharing reduction payments hammers home the harm ending these payments will have on consumers. According to the score, released late yesterday, premiums will increase by as much as 20 percent by 2018 and 25 percent by 2020, and insurers will exit the market because of ‘extreme uncertainty.’We now find ourselves in a position I truly hoped we would avoid. Our insurers have little confidence that cost-sharing reduction payments will continue through the entire 2018 policy year, and are concerned about future enforcement of the individual mandate. This after our Insurance Commissioner Teresa Miller has worked tirelessly with insurers to provide as much stability in the state as possible.President Trump has ignored the pleas of governors, regulators, and insurers to protect individual market consumers, but Congress can make things right. Appropriating funds for the remainder of 2017 and all of 2018 would provide certainty that insurance companies so desperately need and that could provide relief for consumers who benefit from access to health insurance made available by the individual market.Throughout the recent debate on health care, I have been working with governors across the nation to advocate for common sense, bi-partisan reforms that will better our health care system for all. Let’s start here. Appropriating cost-sharing reduction funds is an easy opportunity to provide relief for consumers in Pennsylvania and around the country who are facing premium increases unless certainty for these payments is achieved.I urge you to come together and support appropriating funds for cost-sharing reductions so we can put this issue behind us and begin to address the real factors that drive rising health care costs in our country.Thank you,Tom WolfGovernorGovernor Wolf Letter to PA Delegation in CSR Payments Ending by Governor Tom Wolf on Scribd Governor Wolf Writes PA Delegation Regarding CBO Analysis of Ceasing Payments for Cost-Sharing Reductions August 16, 2017center_img SHARE Email Facebook Twitterlast_img read more

South Yorkshire returns 14% despite shift to short-duration bonds

first_imgJohn Hattersley, fund director at South Yorkshire Pensions Authority (SYPA), which runs investments and administration for the scheme, said the fund’s pursuit of short-duration bonds had affected the overall performance.However, he added: “[The scheme was] mindful of the detrimental effects lower yields were having on the deficit, but also well aware of the potential capital loss of an increase in yields to overall return.’The scheme’s best results came from its US and Japanese equity holdings, which returned 25.3% and 24.9% respectively, while falling short of benchmark targets.North American equities accounted for a third of the 41% international equities bucket, with Japanese holdings claiming an 8% share of the international portfolio.UK equities, which account for 19.1% in assets, returned an above benchmark 7.1% over 12 months to March, with the scheme adding a low-volatility strategy during the year.Its 2.3% absolute return strategy returned 8.8%, five percentage points above the benchmark.However, this did not stop the scheme agreeing to reduce its allocation to the strategy in favour of more “specialist and income orientated vehicles”, which Hattersley said would be introduced this year.The 20.4% fixed income portfolio, the majority of which is invested in UK index-linked bonds and a quarter in corporate bonds, returned 18.5%.Hattersley said SYPF had nevertheless decided to overhaul from its conventional corporate bond strategy, and move towards a more suitable buy-and-maintain strategy, overseen by Royal London Asset Management.A 4.3% allocation to private equity returned 19.3%, well above its 2.4% benchmark.Real estate returned 13.1%, 3.8 percentage points below benchmark, and accounted for 10.8% of the fund’s portfolio.“The Fund’s commercial real estate portfolio performed well,” Hattersley said, “although the overall property return suffered because of a disappointing agricultural valuation and the adverse currency effect on the European fund holdings.”The scheme did not change asset allocation radically over the year, however, it will now move to a new customised benchmark after it underwent an asset and liability review. The £6.3bn (€8.6bn) South Yorkshire Pension Fund (SYPF) returned 14% up to April 2015, despite its changing exposure to short-duration bonds hampering its return strategy.The pension fund for public sector workers in the south of Yorkshire began shifting towards a short-duration bond strategy over concerns a rise in interest rates would significantly affect asset valuation.The local government pension scheme’s (LGPS) 14.2% return was 20 basis points below its benchmark after fixed interest bonds and property, which returned 18.5% and 13.1% respectively, were not as buoyant as expected.Its overall return was significantly higher than the 5.7% seen in 2013/14.last_img read more

Italy’s Covip expects drop in contributions due to pandemic response

first_imgMario Padula, CovipRegarding the impact of COVID-19, Padula said: “There is a risk not only that the crisis will reduce the propensity to join the system […] but also that it will determine the exit from the system, either because they become unemployed, or they stop contributing.“This risk is causing a rise of the differentials in terms of inclusion, with further marginalisation of the weakest categories by gender, age and location.”Padula called for stronger fiscal incentives in order to encourage workers to restart contributing after the crisis. He also called for greater investment of second pillar pension funds in the Italian economy.The implementation of IORP II will serve as a catalyst, he added. Thanks to its modernisation elements, the directive should help pension funds intensify their relationships with existing and potential members.“We need to rethink […] the role not just of institutional investors but private savings in general can have in growing the economy and developing the financial markets, tackling with courage the problems that the Italian economy poses in relation with its industrial fabric and its capital markets.“We need to do this if we want to build a society where the pact between generations is prioritised, as it deserves to be. Only this way we will be able to look to the future with hope”, said Padula.Looking for IPE’s latest magazine? Read the digital edition here. According to Covip’s annual report, released this week, membership of second pillar pension funds grew by 4% in 2019 compared with the previous years.Italian pension funds had 8.3 million members, which represents 31.4% of the overall labour force. Individual pension funds took the largest share of members at 3.1 million, while industry-wide pension funds had 3.1 million at the end of last year.Open pension funds and occupational funds predating the 1993 reform had 1.5 million and 600,000 members, respectively.Pension fund assets grew by 10.7% during 2019 to €185bn, which equates to 10.4% of GDP and 4.2% of overall assets of Italian families. The assets held by casse di previdenza, the privatised first pillar funds for professionals, were €87bn, having grown by 1.9% during 2019.In his message, Padula highlighted the several challenges facing the Italian pension fund system, the main one being the low participation in the second pillar, especially when it comes to women and workers below 55 years of age.There is also a large gap in terms of participation between the north and the south of the country. Italy’s pension regulator, Covip, expects a decline in contributions to occupational pension funds over the next few months, as economic activity in the country falls due to the government’s response to the COVID-19 pandemic.The regulator also expects a rise in requests from members to access pension savings.In a video message streamed yesterday on Youtube, Covip’s chair Mario Padula said: “The actual magnitude of these phenomena remain under observation by the authority, in order to be able to evaluate the impact on individual pension funds and on the system overall, and to adopt the most adequate measures to contain the effects and support the recovery.”Padula said that Italian pension funds recorded negative returns during the first quarter of 2020, but managed to contain the markets’ volatility. Net of costs and taxes, industry-wide funds lost 5.2%, while open pension funds lost 7.5% and individual pension products lost 12.1%.last_img read more