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Pension costs taking a chunk out of UK plc profits: report

first_imgSource: Barnett WaddinghamOne of the only factors acting to reduce liabilities was mortality, Barnett Waddingham said. According to work by the UK’s Continuous Mortality Investigation released earlier this year, longevity has not improved overall for the country’s population since 2011.Barnett Waddingham estimated that, if this data had been used in financial statements last year, it would have reduced the aggregate deficit by roughly £10bn.Despite the gloomy outlook, Nick Griggs, partner at Barnett Waddingham, said: “It is also worth bearing in mind that if equity returns continue at the levels seen in the last few years, long-term interest rates rise more than expected and longevity increases do not provide any nasty surprises, the pension deficit problem could solve itself.“We must remember that the deficit is essentially the difference between two much bigger numbers and a few gentle economic triggers could completely change the picture. This is why many companies are not rushing to clear deficits quickly with additional cash contributions.”Barnett Waddingham’s report also found that the aggregate deficit increased as a proportion of total market capitalisation in 2016, despite the equity market’s strong performance. Source: Barnett WaddinghamIn separate research also published today, JLT Employee Benefits found that the UK’s 100 largest listed companies had combined DB liabilities of £681bn at the end of last year, an increase of £95bn in 12 months.Of those companies, 16 had liabilities in excess of £10bn, while 10 had liabilities bigger than their market capitalisation.JLT’s research showed that measures such as closing to new and existing members had made little difference to DB obligations. Provisions fell by 12% in 2016, the company said. The aggregate shortfall across FTSE350 defined benefit (DB) pension schemes was equal to 70% of 2016 pre-tax profits at the end of last year, according to Barnett Waddingham.In the consultancy and actuarial firm’s latest annual Impact of Pension Schemes on UK Business report, Barnett Waddingham said the aggregate DB deficit across the UK’s 350 largest companies rose by £12bn (€12.9bn) to £62bn. This compared to the companies’ combined £88.9bn in pre-tax profits generated last year.Changes in actuarial assumptions such as discount rates had led to the aggregate deficit remaining broadly unchanged since 2009, Barnett Waddingham reported, despite £70bn being paid into schemes in that period (see chart, below).“Based on the substantial amount of deficit contributions paid by FTSE350 companies since 2009, an aggregate surplus was expected to have materialised by this point,” Barnett Waddingham said in its report. “However, the sharp fall in corporate bond yields since 2009 (and the corresponding drop in IAS19 discount rates) has put paid to these expectations.”center_img Discount rates used in 2016 were on average 3% a year lower than those used in 2009, the firm said, increasing the cost of meeting liabilities by more than 70%.Cumulative actuarial losses amounted to £63bn between 2009 and 2016, the company said.last_img read more

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Tina Walters to headline major gospel splash in Dominica

first_img Tweet 28 Views   no discussions Sharing is caring! Tina WaltersTina Walters has been nurturing a musical talent ever since she impressed her school friends with her first impromptu performance. The reggae artiste, seeking higher, gave her life and her earthy honest voice to God on the 23rd of December, 2007. Her songs evoke an evangelical passion and tell the tale of God’s presence in her everyday life. She was born in Jamaica on 24th February, 1986 and resides in Antigua.Even when Tina examines topics such as the battles we all face, her charm and sincerity of her smile lets you know that with God all is well.Tina uses her talent to break down Satan’s strongholds by ministering the word of God through a style of gospel music that appeal mostly to the youth.“Singing for me is more than entertainment, it is ministering the word of God” she said. Tina will be making a ministerial call on Dominica in the month of August along with fellow Jamaican Disciple 1, according to officials at Tribal Services.Dominica Vibes News Sharecenter_img Share LocalNews Tina Walters to headline major gospel splash in Dominica by: – April 27, 2012 Sharelast_img read more

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Cordes collects September Spectacular checkers at Independence

first_imgBy Ryan ClarkINDEPENDENCE, Iowa (Sept. 17) – Troy Cordes topped a field of 35 Xtreme Motor Sports IMCA Modifieds to take the win in the Albert Auto September Spectacular at Independence Motor Speed­way.The victory earned Cordes $1,000 and a spot on the 2017 Fast Shafts All-Star Invitational ballot.From his second row start, Cordes took the lead on the first lap and then quickly pulled away from traf­fic. He led the entire 25-lap distance on his way to the win ahead of Darin Duffy and Kaleb Bent­ley.In just his third night behind the wheel of the IMCA Sunoco Stock Car he bought from regular sea­son champion Tom Schmitt, Cole Mather beat Schmitt to the checkers for his second career win in the division. Jay Schmidt finished third.Tony Olson raced to his 29th win of the season in the 20-lapper for Karl Chevrolet Northern SportMods. Olson took the lead just prior to midway and then drove away to victory ahead of Jake Morris. Tyler Soppe started last on the 27-car grid and raced to a third place finish.Quinton Miller won a race-long battle with Benji Irvine in that 20-lap main. Justin Hanson ran third.Feature ResultsModifieds – 1. Troy Cordes; 2. Darin Duffy; 3. Kaleb Bentley; 4. Joe Docekal; 5. Scott Hogan; 6. Zach Less; 7. Brandon Maitland; 8. Ryan Maitland; 9. Austin Emry; 10. Johnny Walker; 11. Tony Snyder; 12. Rich Smith; 13. Dennis Betzer; 14. Mark Schulte; 15. Dustin Smith; 16. Trent Jochimsen; 17. J.D. Auringer; 18. Mitch Morris; 19. George Spence III; 20. Devon Havlik; 21. Bill Roberts; 22. Steve Johnson; 23. Russ Hall; 24. Jason Morehouse.Stock Cars – 1. Cole Mather; 2. Tom Schmitt; 3. Jay Schmidt; 4. John Oliver; 5. Jerry Miles; 6. Roger Ciesielski; 7. Lucas Short; 8. Jarod Weepie; 9. Jake Ludeking; 10. Matt Picray; 11. Rick Milks; 12. Scott Beauregard; 13. Tony Schimmels; 14. Austin Evens; 15. Johnny Spaw; 16. Chris Luloff; 17. Scott Pippert; 18. Jason Brimeyer; 19. Jeff Roete; 20. Matt Burmeister; 21. Jerry Schip­per; 22. Corey Brown; 23. David Sirens; 24. Mike Galli; 25. Scott Hampton; 26. Scooter Dulin.Northern SportMods – 1. Tony Olson; 2. Jake Morris; 3. Tyler Soppe; 4. Brian Kauffman; 5. Doug Burkhead; 6. Tristan Cordes; 7. Jim Buhlman; 8. Rance Powell; 9. Darren Clendenen; 10. Rick Baxter; 11. Chuck Lewis; 12. Mike Mitchell; 13. Sean Vogt; 14. Scott Meyers; 15. Steve Wimer; 16. Mike McDonald; 17. Andy Hunter; 18. Kyle Olson; 19. Gage Neal; 20. Timmy Current; 21. Troy Burkhart; 22. Christian Jordan; 23. Brandon Tharp; 24. Dakoda Sellers; 25. Jake Salis­bury; 26. Nate Smith; 27. Brian Hilbert.Hobby Stocks – 1. Quinton Miller; 2. Benji Irvine; 3. Justin Hanson; 4. Neal Miller; 5. Brian Hap­pel; 6. Shawn Kuennen; 7. Rob Twaites; 8. Scott Michaelis; 9. Jerome Wilson; 10. Justin Ginther; 11. Jerome Wilson; 12. Andrew Torkelson; 13. Bubba Hall; 14. Jacob Floyd; 15. Chad Mannion; 16. Kyle Dulin; 17. Luke Bird.last_img read more

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Cliff McBride April 9, 1942 – July 30, 2020

first_imgCliff McBride, age 78 passed away in his home in Williamsburg, Ohio Thursday, July 30, 2020. He was born on April 9, 1942 in Morehead, Kentucky and was the son of Odus and Susan (Tary) McBride.He worked as a machinist for Lunkenheimer and was a member of Union #105 of Cincinnati, OhioCliff is survived by his children Faith (Steve) Clark, Ricky (Emma Lee) McBride, Pamela McBride, Markey McBride, Tricia (John) Jones and Michael (Melissa) McBride. Grandfather to Sabrina (Dennis) Fordyce, Ricky (Rachel) McBride, Ryan (Chaylyn) McBride, Amber (Brad) McBride, April (Corey) McBride, Nathan (Krystal) McBride, Benjamin McBride, Samantha (Cody) Nelson, Heather Nelson, Joshua McBride, Kristina McBride, Hannah Jones and Alyssa Jones. Great grandfather to Dennis Jr. and Logan Fordyce, Gracelyn and Ricky Asher McBride, Alexa McBride, Jamie and Nylah McBride, Patricia McBride and Theodore Alig. Brother to Dorothy Woods, Shirley Smith and Diane (Bobby) Cook. Also survived by his children’s mother Alice Vernatter and daughter in law Dianne McBride.Preceded in death by his parents Odus and Susan McBride, his wife Connie McBride, his children Katherine McBride, Rodney McBride and his 10 siblings including his twin brother Clifton McBride.Visitation will be Tuesday, August 4, 2020 from 6:00 P.M. to 8:00 P.M. with Funeral Services at 11:00 A.M. on Wednesday August 5,2020 all at Jackman Hensley Funeral Home 215 Broadway Street Harrison, Ohio 45030. Burial will follow at New Harmony Cemetery.Memorials may be directed to Heartland Hospice and/or American Cancer Society c/o the funeral home.last_img read more

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Northern Ireland told Chris Baird dismissal was ‘correct decision’

first_imgNorthern Ireland’s hopes of overturning the controversial red card awarded to midfielder Chris Baird during Monday night’s Euro 2016 qualifier against Hungary at Windsor Park appear to have receded. The Irish Football Association sought clarification over the incident in the 1-1 draw with Hungary, in which Baird was dismissed after being cautioned for two separate tackles in the same passage of play. And in a statement issued on its official website the IFA said they had been told the decision was “the correct one”. Press Associationcenter_img International Football Association Board secretary Lukas Brud told the IFA that referee Cuneyt Cakir was within his rights to play advantage after a cautionable offence, then punish the infringement retrospectively. Brud said: “In referee education match officials are reminded that playing an advantage for a cautionable offence runs the risk that the offending player may commit a second cautionable offence, but the spirit of advantage should be considered especially if by stopping to issue the caution the non-offending team loses a clear promising attack.” Northern Ireland boss Michael O’Neill had indicated in the aftermath of the 1-1 draw that he would consider an appeal in the hope that Baird could still play some part in the next two crucial matches of their campaign. last_img read more

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Blackwood says attention to fitness paying off

first_img… enters record books with massive 248 against HurricanesKINGSTON, Jamaica (CMC) – Jermaine Blackwood, who entered the record books last weekend with a massive double-century for Jamaica Scorpions against Leeward Islands Hurricanes, has credited his fitness routine for helping him reach the monumental score.Small in stature but flamboyant in stroke play, Blackwood made 248 in over eight hours at the crease. He faced 332 balls and hit 33 fours and two sixes in Jamaica’s only innings in the match. They beat the hosts by an innings and 118 runs on the fourth morning at the Sir Vivian Richards Cricket Ground in Antigua.“Fitness is the key. I have been paying special attention to fitness all my career and this season,” the 28-year-old said. “It was a very special feeling to get to such a huge score. The plan was just to bat and bat and take the team to a big score. It was good to get settled in and go big.”With the regional four-day first-class season suspended after eight rounds of matches, due to the Coronavirus (COVID-19) pandemic that has touched several Caribbean countries, Blackwood is the leading run-scorer with 768 runs so far – including six half-centuries.His previous highest score this season was 98 against the Leewards at the Trelawny multi-purpose facility on the Jamaica north coast. Last Saturday, he added a century stand with captain John Campbell, who made 112.“I had six half-centuries before the double- century, so it was the result of the hard work I have been doing this season. We got good advice from the coach who continued to remind me to just bat – don’t pressure myself, just stay at the wicket and accumulate the runs,” Blackwood said.“I played well with John. He did a great job, we spoke throughout and we enjoyed batting together. I always enjoy batting with him. We have a very good understanding when we bat together.”Blackwood’s knock put him high in the pecking order as it was the fourth highest score by a Jamaican in regional first-class history dating back over 130 years. The highest recorded score by a Jamaican in the first-class cricket in the region is 344 not out, made by the legendary George Headley against the Lord Tennyson’s XI back in 1932 at Melbourne Club Ground in Kingston.The second highest score also came in that same innings from Clarence Passailaigue, who made 261 not out, as he added a record unbeaten stand of 487 with Headley.Blackwood’s knock was just two runs short of the top score for Jamaica in the modern era – 250 not out by Marlon Samuels against Guyana at Alpart in February 2011. Samuels actually has two other first-class scores over 250 – his Test best of 260 in Bangladesh in Khulna during his golden year, 2012; and 257 for the West Indies against Queensland in Brisbane ahead of the Frank Worrell Trophy Test Series back in 2005.Chris Gayle is also one of the most distinguished run-makers among Jamaican batsmen with two triple-centuries in Test cricket – 333 in Sri Lanka and 317 against South Africa in Antigua; as well as 204 against New Zealand in Grenada. He also has double centuries for Jamaica in the regional first-class tournament – 219 against Leeward Islands and 208 not out against the West Indies ‘B’ Team.last_img read more

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USC sets sights on division foe

first_imgNearly three weeks after an upset loss at Stanford Stadium, No. 13 USC squares off against Utah, which is  looking to make a statement after its own disappointing start.Early retirement · Utah quarterback Jordan Wynn (above) retired in September because of recurring shoulder injuries. Wynn finished his career 14-7, throwing 33 touchdown passes — the sixth-most in school history. – Carlo Acenas | Daily TrojanThe Utes (2-2) have been decimated by injuries and lineup changes. Starting quarterback Jordan Wynn was forced to retire because of chronic shoulder injuries, leaving the job to senior Jon Hays. And senior running back John White, who ran for 1,519 yards in 2011, has just 233 yards this season and is averaging only 3.6 yards per carry.USC coach Lane Kiffin expects White to be at full strength this week, and suspects he might look more like the All-Pac-12 performer he was a season ago.“They’re just going through the growing pains of new guys in there and a running back [who’s] not healthy, so I’m sure they’ll be ready for us,” Kiffin said.Picked to finish second in the Pac-12 South in the conference’s preseason media poll, the Utes carried high expectations coming into the season. But things haven’t worked out as planned, as they lost to rival Utah State for the first time in 12 games and lost to Arizona State by 30 points. Still, Kiffin believes the Utes, who are averaging just 23 points per game, are better than recent results indicate.“We talk to our guys a lot about [how] previous games don’t matter,” Kiffin said. “They really don’t matter anywhere in college football. We’re always going to get everybody’s best shot.”Coming off of a bye week, the game will provide USC senior quarterback Matt Barkley and the offense the chance to get back on track after a pair of subpar performances. In the loss to Stanford and the win against California, Barkley threw a combined four interceptions to just a single touchdown. The Trojans (3-1, 1-1) are averaging 33 points per game, down from 35.8 in 2011. Though they ran for 296 yards in a 27-9 win over Cal on Sept. 22, Barkley threw for just 192 yards, his second-lowest output of the season.The Heisman Trophy hopeful has thrown 12 touchdown passes this season but has also tossed five interceptions, compared to just seven in the entire 2011 season. Even after a wild weekend in college football that saw West Virginia quarterback Geno Smith throw eight touchdowns in a 70-63 shootout win over Baylor, Barkley insists he isn’t concerned with his statistics — he just wants to win.“I haven’t thought of any pressure up until this point this whole season,” Barkley said. “If we’re winning games by running the ball, then I’m fine with that. I’m not comparing myself to other people.”Though the offense has been down in recent weeks, the defense has been playing its best football. The unit is giving up 17.2 points per game this season compared to 23.6 across 12 games in 2011. Junior cornerback Nickell Robey says he is excited about the opportunity to play a Utes team that has struggled offensively in recent weeks, especially with a backup quarterback behind center.“When offense is struggling … just to know that we can put some fire on them, get some tips, some overthrows, some interceptions, we’ll be fine,” Robey said.With the game on a Thursday, preparation has been different for the Trojans; they held rare Sunday and Monday practices this week. Despite the change in schedule, Robey said there really isn’t any difference in mindset for the Trojans come kickoff — they just need to play their game.“We just know we can’t have distractions,” Robey said. “We have to limit the distractions and we just have to play USC football.” Kickoff is set for 6 p.m. Thursday at Rice-Eccles Stadium in Salt Lake City. The game will be televised nationally on ESPN.last_img read more

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Ulster and Leinster final day in the All-Ireland Senior Football Championship

first_imgIt’s Ulster and Leinster final day in the All-Ireland Senior Football Championship.First up is the meeting of Down and Tyrone in the Ulster decider, with Clones playing host to the game.Tyrone are aiming for back-to-back Ulster titles for the first time since 2010, while Down have to go back to 1994 for the last time they won the provincial crown. Throw-in is at 2pm, while the minor final between Cavan and Derry is first up at 12pm.Then attention turns to Croke Park as Kildare stand in the way of Dublin winning their 7th straight Leinster football title.It’s been an impressive 2017 for Kildare, as they secured promotion to Division 1 in the Allianz Football League.This is also their first provincial final since 2009.Dublin manager Jim Gavin says Kildare have every right to go into the game with confidence.last_img read more

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Neymar out of Second Leg Clash with Real Madrid

first_imgParis Saint-Germain star Neymar will reportedly miss the second leg of his side’s UEFA Champions League round-of-16 clash against Real Madrid next Tuesday due to an ankle injury.Sky Sports News reported on Monday that Neymar is set to be absent for the second-leg meeting after he was stretchered off in Sunday’s 3-0 win over Marseille.It’s expected he will miss three weeks of action, making it highly unlikely Neymar will face Real as things stand, and PSG is sure to miss their summer signing as they look to bounce back from a 3-1 defeat at the Estadio Santiago Bernabeu in the first leg. It’s mentioned in the report that initial fears were that he had broken his ankle, and the Brazilian left the field in tears.However, a three-week wait on the sidelines now looks more likely after he suffered what looks to be a sprain. Replays showed the blow came almost unchallenged as Neymar rolled his ankle on the Parc des Princes turf.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

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What happened to Tom Seaver? Legendary MLB pitcher passes away aged 75

first_img First Published: 3rd September, 2020 16:39 IST ALSO READ: MLB Celebrates Jackie Robinson, Calls For Justice ContinueSeavers’ last appearance in the MLB came for the Red Sox on September 19, 1986. In a career spanning over 20 years in the MLB, Seavers won 311 games and had a 2.86 earned-run average. In 1992, Seavers was inducted into the Baseball Hall of Fame. Image Credits – AP Earlier this week, news broke about the tragic death of MLB great Tom Seaver, also known as ‘Tom Terrific’, at the age of 75. Tributes from baseball fans all over the world poured in for the legendary New York Mets pitcher after his death was announced on Wednesday. Although it was reported that Tom Seaver passed away on August 31, netizens were curious to know about what happened to Tom Seaver, after it was rumoured that the Hall of Fame pitcher tested positive for coronavirus. ALSO READ: More MLB Games Postponed In Response To Racial InjusticeWhat happened to Tom Seaver? Was Tom Seaver COVID-19 positive?On Wednesday, the National Baseball Hall of Fame confirmed the death of legendary pitcher Tom Seaver at the age of 75. It was reported that Seaver died in his sleep on Monday. Reports also confirmed that Seaver tested positive for coronavirus but had been suffering from a number of other illnesses as well.  FOLLOW US 💔 4⃣1⃣ 💔 #RIP41 pic.twitter.com/b6gD8Y5zZ0— New York Mets (@Mets) September 3, 2020 Last Updated: 3rd September, 2020 16:39 IST What Happened To Tom Seaver? Legendary MLB Pitcher Passes away Aged 75 What happened to Tom Seaver? On Wednesday, the New York Mets confirmed the death of their iconic right-handed pitcher Tom Seaver at the age of 75. Arnold Dsouza LIVE TVcenter_img WATCH US LIVE SUBSCRIBE TO US COMMENT Official statement from the #Mets on the passing of Tom Seaver. #RIP41 pic.twitter.com/tWTxQWlk1o— New York Mets (@Mets) September 3, 2020 Written By ALSO READ: Japanese Stars Yu Darvish And Shogo Akiyama On “memorable” First MLB ClashTom Seaver death: How did Tom Seaver die? Tom Seaver, a 12-time All-Star, had been suffering from memory loss, sleep disorder nausea, and a general overall feeling of chemical imbalance since 2013. In May 2019, Seaver’s family announced that the MLB legend was suffering from Alzheimer’s dementia, which would eventually lead to his retirement from public life. However, in an autopsy, it was confirmed that Seaver had succumbed due to complications of Lewy Body Dementia and coronavirus. Lewy Body Dementia is a disorder that leads to a decline in thinking, reasoning and independent functions because of damage done to the brain cells over a period of time.ALSO READ: Chadwick Boseman Death: MLB, NFL, NBA Players Mourn The Sudden Death Of Black Panther StarTom Seavers MLB career and honoursSeavers made his MLB debut for the New York Mets on April 13, 1967 and spent 10 seasons with the National League East division side. Seavers won the World Series Championship in 1969 and three Cy Young Awards while playing with the Mets. The iconic pitcher also had stints with the Cincinnati Reds, Chicago White Sox and Boston Red Sox.last_img read more

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