UK roundup: Rally planned to protest proposed Nissan DB closure

first_imgAccording to Unite, the proposal to close the scheme would affect some 1,800 members.A spokesman for Nissan said: “We aim to provide competitive benefits to our highly valued staff, but these have to be balanced with the long term sustainability of our business.“The level of company investment needed to maintain the defined benefit pension plan has grown to unsustainable levels. For this reason we are in discussions with affected employees and their representatives about the proposed closure of the plan.”Nissan recently announced a four-year restructuring plan, after reporting an annual net loss of ¥671bn (€5.43). As part of this it plans to focus on three major global markets – Japan, China, and North America. Trade union Unite is organising a socially-distanced rally of Nissan workers this weekend to protest the company’s proposal to close its defined benefit (DB) pension scheme.Unite national officer Steve Bush warned of industrial action at the auto manufacturer’s UK plant in Sunderland, which would be a first, if the company did not make “substantial movement during consultation”.He said the company was “refusing to even countenance” offering scheme members a lump sump in return for accepting the closure of the DB plan.“Our members are incredibly angry at the company’s disgraceful behaviour,” he said. Nissan recently announced a four-year restructuring plan, after reporting an annual net loss of ¥671bn (€5.43)In western Europe, it is intending to close its plant in Barcelona and, at the Sunderland plant, to focus on the production of core models and improve efficiency.The Yokohama-based parent company is targeting a reduction in fixed costs by around ¥300bn.In the UK, Nissan operates three pension plans, a defined contribution plan and two DB schemes that were closed to new entrants in 2004, one for employees and one for executives.According to the UK company’s most recent full accounts, since July 2016 it has been paying a future service contribution rate of 21.3% per annum for the employee plan and deficit recovery contributions of £33m per annum.According to IPE’s Top 1,000 pension fund guide, Nissan Motor Manufacturing UK had €1.7bn in pension plan assets as at the end of March 2018.Publisher to resume pension deficit contributionsNews publisher Reach will resume monthly pension deficit contributions, it announced this week in a trading update.In April, in the context of an update about the implications of the coronavirus pandemic for the company, it had announced having requested talks with its pension fund trustees about deferring deficit repair contributions, which was agreed.In its trading update earlier this week, Reach announced it would be ending previously announced temporary pay cuts for all employees except for the CEO, CFO and other board members.It said it was able to take this step because of plans it would be implementing to transform the business to speed up the delivery of a previously agreed “customer value strategy”.The transformation plan will include a headcount reduction of around 550 people, or 12% of the workforce.Reach also announced that all annual bonus schemes relating to 2020 remained suspended. It did not propose a final dividend for the financial year ending 2019.During the immediate COVID-19 crisis in the UK, the pensions regulator granted flexibility to suspend pension contributions on the condition that schemes were being treated fairly compared with other stakeholders.Last month it updated its guidance, seen to mark a continuation of this stance while being more explicit about conditions that must apply where contributions are being deferred.By then around 10% of all schemes had agreed to defer pension contributions, according to the regulator.Prudential Retirement hails ‘vibrancy’ in bulk annuity marketPrudential Retirement, part of US investment manager Prudential Financial, has partly attributed to the UK bulk annuity market its having closed $1.7bn in new longevity reinsurance transactions during the first half of the year.More specifically, it referred “a vibrant smaller end” of the UK pension buy-in and buy-out market.“The market is functioning very smoothly, and the smaller end of the market has been quite active,” said Tom Cahill, vice president, longevity reinsurance, Prudential Retirement.“We are proud to have reinsured the risk of many individual schemes in the first half of 2020, including one stand-alone mid-sized transaction and well over a dozen smaller schemes through our flow reinsurance offerings,” he added.Prudential also attributed its H1 success to “pivoting quickly to virtual closings” during the COVID-19 pandemic.“Innovation comes in many forms and this spring, we found ourselves quickly adapting to an entirely virtual environment,” said Rohit Mathur, vice president and head of international transactions for Prudential Retirement.“While we are now in the midst of incredible uncertainty with the coronavirus, such uncertain times have strengthened our conviction that pension de-risking is an all-weather solution for our institutional client base.“For those pension schemes that had de-risked their asset portfolio and that were ready to transact before COVID, there was nothing holding them back from moving forward with their deals.”Looking for IPE’s latest magazine? Read the digital edition here.last_img read more

Slacks Creek unit sells for $160k, tenanted for $270 a week

first_imgThe unit at 23/26 Argonaut St, Slacks Creek, sold for $160,000.LOGAN City has provided investors with bargain prices for rental properties.Your Real Estate Browns Plains agent Bridgette Griffiths said another owner within a gated Argonaut St unit complex at Slacks Creek snapped up the property at No. 23/26 for a bargain $160,000. The complex has a pool.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:46Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:46 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenChoosing an apartment to invest in01:47 The dining room of the home.“It has had the same tenant for 16 years so it was tired, and the price was reflective of its condition,” Ms Griffiths said.“However, it had a high yielding return and a long term tenant, which is always great for any investor.”According to CoreLogic data, the median unit sale price for Slacks Creek was $206,000.Ms Griffiths described the unit investment market as “buoyant”.“The vacancy rates seem to be reasonable and the demand is always high,” she said.center_img The kitchen was dated, but tidy.“They knew the area well and knew the complex and what it offered,” Ms Griffiths said.More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours ago“They felt that it was a good investment and ended up purchasing it for his son to start his investment portfolio.”The unit, which had two bedrooms and one bathroom, came the advantage of having a long term tenant, who was renting the property for $270 weekly.last_img read more

U.S. weekly LNG exports dip

first_imgImage courtesy of CheniereExports of liquefied natural gas from the United States’ facilities dropped for the second week in the row. Data from the United States Energy Information Administration (EIA) shows that a total of fifteen tankers with a combined LNG-carrying capacity of 55 billion cubic feet (Bcf) departed the United States between February 6 and February 12, 2020.This compares to 17 cargoes shipped in the previous week with a combined LNG-carrying capacity of 62 Bcf.Out of the fifteen vessels departed in the week under review, five were shipped from Cheniere’s Sabine Pass facility, three each from Corpus Christi and Freeport LNG and two each from the Cameron and Cove Point LNG plants.EIA further noted that natural gas deliveries to liquefied natural gas export terminals slipped compared to the previous week reaching 8.6 Bcf/day, down from 9.3 Bcf/d. LNG World News Stafflast_img read more

Wilder will not step-aside to allow Joshua fight Fury – Promoter

first_img There has been hopes from Anthony Joshua’s side that a lucrative offer could convince Wilder to forgo his fight with Fury to allow for an all-British showdown for the undisputed heavyweight crown. However, that scenario seems highly unlikely with Joshua also penciled in to defend his world titles against Kubrat Pulev, now expected to be on July 25 at the Tottenham Hotspur Stadium. Fury’s co-promoter Arum has placed further doubt on that situation ever happening by insisting Wilder would never consider a financial offer to renounce his shot at Fury. When asked about the prospect of Wilder stepping aside, Arum told iFL TV: ‘Absolutely none. Wilder wants to fight Fury again. He’s not indicated to us or anybody else that he would be willing to step aside. ‘A further question is who is going to pay him to step aside? And, anyone on our staff has not even raised the possibility with us. So as far as we’re concerned, we’re thinking ahead to a third Fury–Wilder fight. ‘We’re Pulev’s co-promoter as well and nobody has discussed with us a step-aside [payment]. ‘I speak with authority on this because of my relationship with Pulev and my role in Fury and Wilder, there has been absolutely no discussions by anybody about either of those guys [Wilder or Pulev] stepping aside.’ Arum believes Joshua’s fight with Pulev will have to be pushed back further due to the coronavirus pandemic and sees the unified champion and Fury fighting early next year. He added: ‘I think scheduling for July is a bit optimistic, I don’t think we’re going to be able to get clearance to have spectators at the event in July. ‘I think that that fight would go over into the fall as well as the Fury – Wilder fight which we’re now looking at October. Promoter Bob Arum has said there is no chance of Deontay Wilder accepting step-aside money Read Also: Here’s how football stars are spending COVID-19 lockdown ‘I think that fights play out the way many people think and Joshua and Fury are the winners, they’ll fight some time next year. ‘No great catastrophe if they don’t fight in December and fight in January or February 2021.’ FacebookTwitterWhatsAppEmail分享 Loading… Deontay Wilder will categorically rule out accepting money to step aside from his contractual third fight with Tyson Fury, insists Top Rank promoter Bob Arum. Wilder is set to face Fury in a trilogy clash in October after triggering his rematch clause following his seventh-round stoppage defeat by the Brit earlier this year. Promoted ContentWho Is The Most Powerful Woman On Earth?The 10 Best Secondary Education Systems In The World7 Ways To Understand Your Girlfriend BetterBest & Worst Celebrity Endorsed Games Ever MadeBirds Enjoy Living In A Gallery Space Created For Them7 Reasons It’s Better To Be A Vegan8 Most Expensive (And Surprising Things) Keanu Reeves Ever Bought14 Hilarious Comics Made By Women You Need To Follow Right Now7 Black Hole Facts That Will Change Your View Of The Universe10 Phones That Can Easily Fit In The Smallest Pocket7 Thailand’s Most Exquisite Architectural Wonders9 Facts You Should Know Before Getting A Tattoolast_img read more

Boca Pet Store Owner Leaves Jail After Arrest for Dead and Neglected Dogs

first_imgThat’s when Palm Beach County Animal Care and Control ended up removing dozens of puppies from the business, while the investigation continued.According to Dianne Sauve, who serves as director of Palm Beach County Animal Care and Control, “Had we not gotten there with Boca PD, most likely the death toll would have much higher.”Courtesy: Palm Beach County Sheriff’s OfficeRecords reveal that investigators found a dead three-month-old puppy and six severely ill french bulldogs among 58 dogs that called the shop “home.”Additionally, two of the animals required intensive care.Officials shut down the business indefinitely when they arrested Rosenbluth.The arrest report goes on to state that the store was negligent in prevention of injury and lack of regular care.Meanwhile, Rosenbluth bonded out of the Palm Beach County Jail on Wednesday, and faces multiple charges of animal cruelty. He was supposed to be helping puppies find their forever homes.Instead, authorities say a local pet store owner neglected the animals, and left them to die.Boca Raton Police arrested 37-year-old Marc Rosenbluth on Tuesday, after they came across the sad scene.The police report states that he and his wife sold sick dogs out of their store, “Poochie Couture,” last November.last_img read more

Philippe Mexes sent off for grabbing throat of Lazio players in AC Milan defeat

first_imgAC Milan will finish without a January win in Series A for the first time in 70 years after a 3-1 defeat to Lazio on Saturday which saw irate defender Philippe Mexes sent off in a bad-tempered finale.Lazio’s 10th win of the campaign moved Stefano Pioli’s men up to third place, one point ahead of Napoli and Sampdoria and within 12 points of leaders Juventus ahead of their home game against struggling Chievo on Sunday.Milan’s crisis, meanwhile, deepened with the seven-time European champions dropping to 10th ahead of the rest of the weekend fixtures after their third reverse in four games.Milan started the year with a 2-1 home defeat to Sassuolo and despite drawing away to Torino a week later Filippo Inzaghi’s men have since conceded 1-0 at home to Atalanta before losing to Lazio on Saturday.With their next league game at home to Parma on February 1, Milan are winless in the league in January for the first time since 1941, when the Rossoneri conceded one defeat and were held to three draws.Worse, Milan could lose defender Mexes to suspension after the Frenchman saw red in the dying minutes after a series of altercations with Stefano Mauri. Mexes reacted angrily when tripped by Mauri and minutes later had to be restrained by teammates having grabbed the Lazio captain around the throat.The Frenchman was sent off but had to be dragged away from Mauri and pushed off the field.When asked about Mexes, Inzaghi told Sky Sport: “Philippe has apologised for his gestures. I’m disappointed because he’s facing a suspension.”Mexes also spoke to Sky Sport in a bid to ask forgiveness.”When you make a mistake you have to face up to it and ask forgiveness from the club and the fans. I reacted badly, it’s not a great example to show,” he said. “It’s only a game of soccer and it shouldn’t have reached such proportions. I’m the one who’s at fault. That’s all.”last_img read more

Traffic Delays Due to Car Fires

first_imgOn the first day back to school and work following Labor Day, northbound traffic was stalled on the Garden State Parkway, in the vicinity of Holmdel, around 8:30 a.m. Delays went back for miles.The state’s real-time traffic reporting agency, 511nj.org, said there was an accident with injuries, as well as a vehicle fire. Both occurred in the Express lanes, north of Exit 114As of 10:20 a.m., authorities estimated that the the 29-mile trip from Exit 98, Belmar, to the Raritan Toll Plaza in Woodbridge via the express lanes would take 1 hour and 13 minutes.Were you affected?last_img

Supreme Court Resumes Normal Activities

first_imgAfter closing over the weekend as part of it precautionary measure against the spread of the deadly Ebola virus, the Supreme Court on Monday, August 4, resumed normal activities.The High Court was among several government institutions that were temporary shut down for spraying of the entire offices and building including the entire compound of Temple of Justice.The moved intended was to ensure the safety of employees of the Judiciary Branch of the government, after an employee of that institution was believed to have been killed by the deadly Ebola virus that had claimed the over hundreds of  lives, including medical practitioner in the country.At Monday’s opening Judges were seen performing their usual duties by proceeding with cases.One of such, court that was in action yesterday was the Criminal Court ‘C’.That Criminal Court was hearing the drug smuggling case involving  Perry Dolo, the former presidential convoy chief and four others.They were accused of trafficking over LD$3.7million substance believed to be narcotic from neighboring Sierra Leone through the Bo Waterside crossing point into the country.The claim they denied when they were appeared before that court early last month for prosecution.It can be recalled that on July 31, the Chief Justice of the Supreme Court, Cllr.  Francis Korkpor instructed his Court’s administrator Cllr. Elizabeth J. Nelson to have all court’s activities closed pending the completion of the spraying of offices and building at  the Temple of Justice.In that directive, the    Chief Justice declared that“We are taking all precautionary measures in response to the deadly Ebola virus.” “In light of this,” Chief Justice Korkpor added, “the entire Temple of Justice compound will be fumigated (disinfected) beginning July 31 at 2:30 pm.”He further declared that “And will end on August 1.”In concluding, the Supreme Court stated that “normal activities will begin on Monday, August 4.”Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Russia impress with early scores as World Cup kicks off

first_img“Love for football unites the entire world in one team, regardless of people’s language or ideology,” Putin said to thunderous cheers from the capacity crowd.Then, to the delight of the home fans, Iury Gazinsky headed Russia in front in the 12th minute after a cross from Aleksandr Golovin. Substitute Denis Cheryshev rifled home a second goal shortly before half-time.Russia, ranked a lowly 70th in the world — three places below Saudi Arabia — know victory in their first match is vital, with tougher games against Egypt and Uruguay to come.Russia is spending more than $13 billion (11 billion euros) on hosting football’s showpiece, the most important event in the country since the 1980 Moscow Summer Olympics.The buildup to the tournament has been dogged by controversy and diplomatic scandals and has shone a light on the challenges facing the country.On the day of the curtainraiser, Russia freed the main opposition figure to Putin, Alexei Navalny, from jail after he served a 30-day sentence for organising an illegal protest.But British gay rights activist Peter Tatchell was arrested for holding a one-man protest against the country’s record on gay rights, hours before kick-off.The World Cup favourites — Germany, Spain, France, Brazil — enter the fray from Friday onwards.Brazil and their superstar Neymar are seeking a sixth global crown while Germany, who won their fourth World Cup in Brazil four years ago, will be determined to draw level with the Brazilians.France boast possibly the most talented squad while Lionel Messi is desperate to make amends for Argentina’s defeat in the 2014 final.The preparations of 2010 winners Spain are in tatters after coach Julen Lopetegui was sacked just two days before their opening game on Friday against Portugal. He had angered his federation by taking the job of Real Madrid manager.Neymar, the world’s most expensive player, has recovered from a broken bone in his foot in time.Egypt’s coach said prolific striker Mohamed Salah is “almost 100 percent” to play in their opening match against Uruguay on Friday after he had intensive treatment on the shoulder injury he suffered playing for Liverpool against Real Madrid in the Champions League final.– Hearts and minds –The money lavished on the tournament will boost Putin’s already sky-high prestige at home by giving many of the 11 host cities their first facelifts in generations.Cities such as Saransk were sleepy outposts with decaying buildings until the World Cup reconstruction put them firmly in the 21st century.The tournament also offers Putin a chance to project Russia as a global player that is accepted and respected even while being at odds with the United States.He is attempting to do so despite Russia being hit by international sanctions following its invasion of Ukraine’s Crimea in 2014.Moscow’s military backing of the Syrian regime and alleged meddling in the 2016 US election on President Donald Trump’s behalf only deepened its worst rift with the West since the Cold War.Putin hopes the most-watched event on the planet provides Russia with the “soft power” needed to capture a sceptical world’s hearts and minds.– Racism and riots –Russian authorities have gone to great lengths to ensure nothing soils the country’s image.The bloody beating English fans took from nearly 200 Russian thugs at Euro 2016 in France has influenced preparations as much as any diplomatic dispute.Neo-Nazi hooligans who organise mass fights in forests and chant racist slurs at players have been a feature of Russian stadiums for years.The anti-discrimination network Fare said Russia’s football federation was making matters worse by punishing those who reacted to racist abuse “while ignoring the perpetrators”.Security services have either locked up or restricted the movements of hundreds to make sure they do nothing to tarnish Russia’s image.0Shares0000(Visited 2 times, 1 visits today) 0Shares0000Russian players celebrate their opening goal against Saudi Arabia in MoscowMOSCOW, Russia, June 14 – Russia kicked off their World Cup in style on Thursday, scoring early against Saudi Arabia in front of an ecstatic crowd in Moscow after President Vladimir Putin officially declared the tournament open.After a performance from British pop star Robbie Williams, Putin told the 80,000 crowd at the Luzhniki Stadium: “I congratulate all of you at the start of the most important championship in the world.”last_img read more

Health officials warn of air risks

first_imgAnd, despite seemingly improved air quality in other areas, a health threat remains, Nichols said. “It’s not an acute exposure problem where you walk out of your house and take a deep breath and immediately experience the worst effects,” she said in a conference call with reporters. “It’s long-term exposure over a day or a couple days.” Residents with serious health concerns – such as severe asthma, emphysema or heart disease – should consider leaving the smokiest areas until air quality improves, state Public Health Director Dr. Mark Horton said. Meanwhile, the Los Angeles County Department of Public Health maintained a warning issued Tuesday to residents to avoid strenuous outdoor exercise. The agency also urged schools to stop outside recess and sports; the elderly and individuals with sensitive health were told to stay inside. “The whole county has been impacted even if it doesn’t look like it,” said county public health spokeswoman Rachel Tyree. The air quality district urged residents to refrain even from indoor exercise. However, Horton said exercising inside would be safe if air-conditioners were turned on and set to recirculate indoor air, a measure the district recommended generally. Valley schools said they had ordered students to stay inside for recess, on the advice of the Los Angeles County Office of Education, which sent an advisory to superintendents in the county’s 80 districts. There was some concern that children would scoop up and play with ash from the fires, said Rick de la Torre, spokesman for the county office. Outside sports activities were also cancelled at area schools, and outdoor recreational programs were called off at county parks. melissa.pamer@sgvn.com (626) 962-8811, Ext. 2110160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! • For full fire coverage vist the Special Section. Air quality in Southern California remained unhealthy on Wednesday, and officials were not certain when conditions would improve in the wake of this week’s wildfires. Though blazes in Los Angeles County have been mostly vanquished, ash continued to fall from the sky, which was smoky in areas. “It’s pretty much unhealthy everywhere, all over the Southland. The whole San Gabriel Valley is unhealthy,” said Tina Cherry, a spokeswoman for the South Coast Air Quality Management District. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.Meteorologists with the district expect smoke that has been blown out to sea to be pushed back into the region by onshore breezes in coming days, Cherry said. That will keep at a high level the concentration of particulates that have caused public health warnings from county officials. Southern California, which has the overall worst air quality in the nation, this year had its least polluted “smog season” since the agency in 1976 began monitoring Orange County and most of Los Angeles, Riverside and San Bernardino counties, Cherry said. It’s unclear if the effects of the fires that began Sunday would alter that achievement, she said. The yearly smog season runs from May 1 to Oct. 31. Smoky air was worst Wednesday in San Diego County, according to state health and air quality officials. Large blazes in San Diego and Orange counties have continued to prove challenging for firefighters, while efforts to control fires in Malibu and Santa Clarita approached complete containment. Only 10 percent of the 47,000-acre Ranch Fire in Castaic was contained as of Wednesday evening. Unless weather patterns change unexpectedly, air quality in southern counties should remain dangerous until next week, according to Mary Nichols, chairwoman of the California Air Resources Board. last_img read more