Irish pension reform hinges on ‘favourable economic environment’

first_imgThe minister, leader of the Labour Party, did not provide any date for reform implementation, saying it would depend on a number of factors, including the “presence of a favourable economic environment”.But she insisted the case for reform was solid.Burton has previously said the launch of the new supplementary system would depend on a number of economic indicators, likely to include unemployment falling to a level deemed acceptable in a country that only recently saw the near-collapse and bailout of its baking system.Nor did the speech shed any light on when the URSG would reveal its findings, despite the Department of Social Protection’s previously saying the proposal would be published by the end of 2015.Burton has previously told the Irish Parliament the group has so far convened five times, inviting around 35 stakeholder groups to offer feedback on its proposals.She also said the group had spoken to experts from Australia, New Zealand and the UK – all countries that have introduced either mandatory or soft-mandatory pension systems. Publishing the proposal by the end of the year would allow its being debated prior to the next general election, taking place no later than April 2016, at a time when Burton cannot guarantee her party’s return to power.The URSG has so far conducted informal consultations with stakeholder groups, being advised by the Irish Association of Pension Funds that, due to the “political reality”, an auto-enrolment system might be easier to deliver than one mandating pension saving.The system has previously been referred to by a number of names by the minister – including Shamrock Saver, Celtic Saver and MySaver – but more recently it was christened the Universal Retirement Savings Scheme by the URSG. The reform of Ireland’s second-pillar pension system will not happen without a favourable economic environment, according to the country’s deputy prime minister.Joan Burton said there was broad agreement that the current level of “substandard” pension provision needed to be addressed but accepted that the reform’s authors should also be aware of its impact on labour costs.Speaking at an event hosted by IBEC, Ireland’s employer association, the minister for social protection said she accepted the need for “clear communication” of any path towards reform and the launch of a universal pension system.She noted the Universal Retirement Savings Group (URSG), convened by government earlier this year to draw up a reform proposal, was now considering the new system’s design and timeframe for introduction.last_img read more

Expert group tables rescue plan for underfunded Swiss scheme

first_imgInstead, the working group suggested that the current pension fund be converted into a closed fund covering pensioners and members who belonged to the fund before January 2012. A separate, open fund should be created for those who joined the fund after January 2012. The new fund would be fully capitalised, without a guarantee from the state.When PKWAL switched from defined benefit to a defined contribution scheme in January 2012, a guarantee was granted by PKWAL, which a legal opinion has deemed made the state of Valais and its affiliated institutions responsible for plugging the pension fund’s financing gap.“In light of PKWAL’s difficult financial situation, the working group is convinced of the need for a far-reaching and sustained reform of occupational pensions for the insured,” the Wallis state council said in a statement.“The working group is seeking a new paradigm in order to draw a final line under the financing problems of PKWAL and to be able to look to the future.”The proposal to create two pension funds was intended as a strategic measure to solve PKWAL’s problems in the long-term, without prejudice to the interest rate paid on members’ accrued savings capital, the working group said.The cantonal government has commissioned the working group to analyse the financial, technical and organisational aspects of its proposal in-depth. A final report is expected for the end of the year, based on which the government will make its decisions.The government said it would leave an adequate amount of time between the announcement and entry into force of the measures it decides.PKWAL’s management board has decided not to take any measures to reduce the conversion rates, which are applied to members’ assets to calculate their pension, before 1 January 2019. A Swiss public pension fund could be split in two under a proposal to “draw a line” under its financing problems.The CHF4.1bn (€3.8bn) Pensionskasse des Staates Wallis (PKWAL), the fund for the Swiss canton of Valais, has a deficit of more than CHF1bn and is faced with gloomy cash flow and return prospects.The proposal to split the fund was developed by a working group that was launched by the cantonal government last year to come up with ideas for restoring the pension fund’s long-term financial equilibrium.The working group said the pension fund was in an extremely complex and risk-laden situation. Changes at the financing level would provide some reprieve, it said, but would fail to return it to financial health and secure its long-term future.last_img read more

Berlusconi to face trial on sex and abuse of power charges

first_img Share By the CNN Wire Staff 26 Views   no discussions Sharing is caring! Share Share Tweet Silvio Berlusconi Milan, Italy (CNN) — Italian Prime Minister Silvio Berlusconi will be tried on charges of sex with an underage prostitute and abuse of power, an Italian judge ruled Tuesday. The trial is due to begin April 6, Judge Cristina di Censo decided, Italian judicial authorities confirmed. Three judges will preside over the criminal trial in Milan. Prosecutors in Milan filed the request for trial last week. Berlusconi denies the charges, and his lawyers have argued that the Milan courts do not have the authority to try a prime minister or jurisdiction over the case because of where the alleged crimes were committed. News Berlusconi to face trial on sex and abuse of power charges by: – February 15, 2011last_img

Pastor Peg Dorwick

first_imgPastor Margaret D.“Peg” Dorwick, 83 of Milan passed away Wednesday February 24, 2016 at Ripley Crossing in Milan. Pastor Peg was born Sunday January 8, 1933 in Ambrose, ND. the daughter of John and Alice (Anderson) Flaherty. Pastor Peg married Charles “Chuck” Dorwick August 4, 1956 and he survives. Pastor Peg was a member of the St. Paul’s Lutheran Church of Milan and an ELCA member. Peg was a registered nurse for many years retiring from DuPage Community Convalescent Center in Wheaton, IL. She then became a ordained minister in the Lutheran faith. She filled pulpits at St. Peter’s Lutheran Church in Dillsboro, St. Mark’s Lutheran Church in Batesville, St. John’s Lutheran Church in Sunman and St. Paul’s Lutheran Church in Milan. In her free time she enjoyed family, quilting, cooking, baking apple and cherry pie and spice cake, and loved writing poetry and reading. She also was a fine seamstress.Pastor Peg is survived by husband: Charles “Chuck” Dorwick of Milan, sons: Keith Dorwick (John Kelley) of Lafayette, LA. Kevin (Cathy) Dorwick of Galena IL. daughter: Karin Selga of Louisville, KY, brother: John Flaherty of KS, sister: Mary Taylor of IL; 3 Grandchildren Jacquie and Greg Dorwick and Cody Selga. She was preceded in death by one brother Dennis Flaherty.Services will be held 11 AM Friday February 26, 2016 at Laws-Carr-Moore Funeral Home, Milan with Pastor Sue Socha officiating. Visitation will also be Friday 9-11AM at the funeral home. Memorials may be made to St. Paul’s Lutheran Church through the funeral home. Laws-Carr-Moore Funeral Home entrusted with arrangements, 707 South Main Street Box 243 Milan 47031. (812)654-2141. Go to www.lawscarrmoore.com to leave an online condolence message.last_img read more

Hugo Lloris backs his old boss Remi Garde to save Aston Villa from the drop

first_imgHugo Lloris has backed Remi Garde to guide Aston Villa to safety. The Tottenham goalkeeper worked under Villa’s new manager while the two were at Lyon, and on Monday played against the team Garde has inherited in Spurs’ 3-1 Premier League win. A dismal start to the season left Villa bottom of the table with only four points from 11 games, with Tim Sherwood sacked amid suggestions the summer transfer window simply left their squad too weak. Press Associationcenter_img Lloris, however, believes they possess greater talent than they are given credit for, and said that Garde’s previous experience of English football from playing for Arsene Wenger at Arsenal in the 1990s, combined with the tactical knowledge he has seen for himself, will ultimately prove enough to rescue them. “Yeah, I think so,” Lloris responded when asked if Garde could lead Villa to survival. “I know him very well because he was my manager for one year in Lyon. “He is a great man and a great manager. He did only three years but under him, during my year, I really enjoyed my time. “It’s only positive about him. Tactically, he’s going to bring his knowledge, and he has proper experience as a player with Arsenal, and I think he really wanted to join the Premier League. “Aston Villa is a big club and a big opportunity for him, and I’m sure he will show how he’s able to do.” Garde faces the unenviable task of assuming control of a team without a Premier League victory since 8 August. Villa on Saturday host Manchester City before the international football break and then travel to Everton, ensuring that his first two fixtures as manager will come against two of the division’s strongest teams. “His first two games, against City and Everton are not easy, but during the international break he’s going to have two weeks to work with and get to know his players,” Lloris added. “They have a young team but some talented players and just need to fix a couple of details to be stronger as a team.” last_img read more

Krabbenhoft shines as Wisconsin suffers another loss

first_imgJoe Krabbenhoft led the Badgers in a losing effort at Illinois.[/media-credit]CHAMPAIGN, Ill. — With the Badgers’ 64-57 loss at Illinois on Saturday, the University of Wisconsin men’s basketball team displayed the struggles that had been plaguing it over the past four games.Poor shooting, ill-advised decisions and untimely defense have all been a factor during the Badgers’ current four-game losing streak, but there remains at least one bright spot — the play of senior forward Joe Krabbenhoft.In the loss, Krabbenhoft scored a career-high 16 points to go along with 12 rebounds, the eighth time he has reached the double-double mark in his career at Wisconsin.Illinois head coach Bruce Weber was particularly impressed with the way Krabbenhoft conducted himself on the court.“First of all, Joe is the type of guy that you hate to play against,” Weber said. “He’s like a utility guy in baseball — he plays all the positions, he’s a great passer, he plays his butt off.”The Badgers were so confident with Krabbenhoft’s defense that they put him on the Illini’s most explosive offensive player, Demetri McCamey. Though McCamey scored a game-high 25 points, Weber believes that it was his guard’s strong play, not weak defense by Krabbenhoft.“Somebody asked me the other day, ‘Who is the best defender in the league?’ and I think (Krabbenhoft) is one of them,” Weber said. “They probably felt he had the big body … and maybe they didn’t want to wear Trevon Hughes out.”Even with his career day, Krabbenhoft felt he didn’t do anything differently from the other games he played this year. Despite his strong performance, however, he is disappointed and already looking forward to the next game.“Every game you try and help the team in any way you can,” Krabbenhoft said. “The numbers don’t mean anything to anyone here. A win or a loss is what’s important; that’s what we’re focused on.”Aside from his big game, Krabbenhoft was an integral part of the Badgers’ near comeback in the waning minutes of the contest. Wisconsin head coach Bo Ryan attributed Krabbenhoft’s and the team’s toughness to its performance down the stretch.“It was just grit, toughness,” Ryan said. “It comes with strength and experience, so physically we just didn’t take advantage of some opportunities we had.”Bohannon, Leuer struggle in loss.Although the Illini can be attributed for playing strong defense in their win over Wisconsin, they were also helped by poor shooting by typical Badgers sharpshooters.Junior guard Jason Bohannon struggled for the second straight game, this time shooting 1-for-7 from the field and 0-for-3 from 3-point range, scoring only two points against Illinois.Making matters worse for Wisconsin, sophomore forward Jon Leuer, who had been making a strong push for Big Ten Sixth Man of the Year — the award won by Bohannon last year — shot only 1-for-6, missing the two 3-pointers he attempted.Bohannon and Leuer’s play was particularly strong in the loss against Minnesota, during which the two scored 16 and 15 points, respectively, second and third on the team in scoring behind Marcus Landry’s 18.Since that game however, Leuer and Bohannon have not been able to produce offensively. Before facing Illinois, the duo had a near-equally poor performance against Iowa, shooting a combined 4-for-15 with only 15 points between the two.“We only had six or seven turnovers, and to our advantage, we got a lot more shots,” Bohannon said. “Our shots just weren’t falling this time.”last_img read more

USC’s defensive line shines in new scheme

first_imgThe USC defense seemed to get the better of the offense in the Trojans’ 11th practice of the spring. Both sides of the ball have adjusted well to head coach Steve Sarkisian’s quickened pace, and on Thursday the defensive line in particular put its progress on display, causing several negative plays for the offense.Fitting in · Resdhirt junior defensive lineman Claude Pelon has shown rapid improvement over the course of spring practice. The transfer from La Mesa Community College in Mesa, Ariz. will fight for a starting spot in 2014. – Ralf Cheung | Daily Trojan“I was really encouraged by the defensive line,” Sarkisian said. “I was proud of Kenny Bigelow and Claude Pelon, two guys who, in the first couple days of spring ball, could barely stand up. Today, they’re making plays in the backfield in the fourth quarter of practice. That’s telling me a lot.”Practicing an up-tempo offense serves a dual purpose — it gets USC’s offense ready for the type of scheme it will play when the season rolls around, and it also prepares the defense to play against fast-paced opponents, which, in the Pac-12, includes teams like Arizona, and UCLA, among others.“We’re gonna face so many of these up-tempo teams that part of their goal is to wear you down and make their plays in the second half. Today was really meant to work the guys, and I thought they responded very well.”BACK IN GEARSenior outside linebacker J.R. Tavai returned to practice today after missing the past few weeks. His impact was felt immediately, as he made multiple tackles for loss, including one on freshman quarterback Jalen Greene. Tavai tossed Greene to the turf as he tried to change direction.“We’re a defense with an attitude,” Tavai said. “That’s what it’s supposed to look like. He [Greene] tried to spin on me, and I wasn’t gonna have it. But it’s gonna make him better.”Tavai got limited reps at the beginning of last season but came on strong in the second half. He finished the year with 52 tackles, including eight tackles for loss, good for third on the team. He also had 3.5 sacks last season, second-most among returning players.A hybrid outside linebacker who has played defensive end in the past, Tavai appears poised to play a big role on the defense as an edge rusher.NEW ROLEAmong all the position groups, none appear to be as deep and talented as the Trojans’ linebacker corps. Redshirt senior Hayes Pullard is the leader of the pack, and other returners, such as redshirt junior Anthony Sarao and senior Lamar Dawson, give USC plenty of experience.But several newcomers have shined this spring. Redshirt sophomores Scott Starr and Jabari Ruffin are talented outside rushers, as is freshman Quinton Powell. Another inexperienced player, sophomore Michael Hutchings, plays in the middle of the field, and is ready for game reps after sitting out last season.“I’m a lot more comfortable in all aspects,” Hutchings said. “After being out here for a whole season, you feel a lot more comfortable.”Throughout spring, Hutchings has alternated between the first and second units. Regardless of whether or not he starts, he should play many meaningful snaps once the season begins.The transition into a larger role won’t be easy, but Hutchings has plenty of ability, and has leaned on veterans like Pullard to help him adapt.I’m taking in everything I can from him as far as on- and off-the-field knowledge,” Hutchings said. “How to carry yourself, how to act on the field and just anything I can get from him. He’s been here for five years, and he’s got a lot of experience under his belt, so I’m just trying to soak as much in as I can.”QUICK HITSSarkisian said that he intends to let incoming freshmen Adoree’ Jackson, John “JuJu” Smith and Rahshead Johnson take snaps on both sides of the ball once they arrive on campus in the summer.Defensive Coordinator Justin Wilcox compared sophomore safety Su’a Cravens to Washington linebacker Shaq Thompson. Thompson, who switched from safety to linebacker, is one of the most dominant defensive players in the conference.“They’re both big, athletic guys who love football and have really good instincts,” Wilcox said. “Su’a can play safety, he can play a big nickel position for us. He’s a very good blitzer and a very good tackler.”USC will practice next on Saturday at 11 a.m. at Howard Jones Field.last_img read more

Syracuse sets NCAA tournament semifinal record with 12 3-pointers in win over Washington

first_img Published on April 4, 2016 at 1:05 am Contact Paul: pmschwed@syr.edu | @pschweds INDIANAPOLIS — Brittney Sykes received a Snapchat from Malachi Richardson less than three hours before Syracuse took on Washington.Richardson, who threw up “3 goggles” after hitting several 3s in the men’s NCAA Tournament for SU, was watching the first semifinal between Connecticut and Oregon State and was sending his encouragement to Sykes.“I was like, ‘Listen best, I’m going to do the 3 goggles for you,’” Sykes said. “I’m going to throw them up. If I have one or two, I’m going to do it for you.’”With SU cruising and just five minutes separating it from its first-ever national championship game appearance, Sykes stood along the sideline right in front of Syracuse’s bench. Her 3-pointer pushed the Orange’s lead to 16.Sykes connected her thumb and index finger and raised them both to her eye as her other three fingers stuck straight up. She came through on her promise to to Richardson.AdvertisementThis is placeholder text“I just had to put it up real quick,” Sykes said of the 3 goggles.The No. 4 seed Orange (30-7, 13-3 Atlantic Coast) had 12 chances to celebrate a made 3 in its 80-59 blowout win over No. 7 seed Washington (26-11, 11-7 Pac-12) 80-59 on Sunday night at Bankers Life Fieldhouse. In its first-ever Final Four appearance, SU set a national semifinal record with 12 3-pointers and continued its improbable NCAA tournament run. Syracuse will take on No. 1 seed and three-time defending national champion Connecticut (37-0, 18-0 American Athletic) on Tuesday at 8:30 p.m. in the title game.Washington’s 2-3 zone was busted by seven first-half 3s and the Orange capitalized on open space along the perimeter. It even forced the Huskies to switch to a man-to-man defense. The last time SU faced a similar zone, against Albany in the Round of 32, it went 8-of-27 from deep. On Sunday, it went 12-of-33 on the biggest stage the program has ever experienced.“When you hit your first couple, it kind of opens them up for everybody else,” guard Maggie Morrison said.Already with a 15-point lead, Taylor Ford came off the bench and hit back-to-back 3s. On the first one, she was wide open off a skip pass from Morrison. On the second, a defender was so close to her that she grazed Ford’s head.But to hit that, while being so tightly guarded, is what Brianna Butler said became the turning point of the game.“Yeah, that was contested. I probably shouldn’t have shot that one,” Ford said. “But when I put it up, my wrist was like literally perfect and when it went in, I was like, ‘Whoah, yes!’”Throughout the season, head coach Quentin Hillsman said if SU hits 10 3s a game, it’ll have a good chance to win. In games it’s done that, Syracuse is 14-0.When Alexis Peterson hit a 3 late in the third quarter, she held three fingers up in the air. Time after time, players on the Orange’s bench did too. On nearly each made attempt, Hillsman held his three in the air before pacing the sideline as they hung above his head.The celebrations have become as much of a Syracuse tradition as the makes for a coach who berates players when they pass up open shots. On Sunday, the activity helped the Orange continue to make history.After Sykes threw up the 3 goggles with five minutes left, Butler set an NCAA single-season record with her 128th 3-pointer of the year. When she and the Orange came to the bench with four minutes to play, Ford yelled, “Finish strong!” in the huddle. But by that point the result was already decided. And SU’s 3-pointers went a long way in determining that.“That’s what makes us so explosive. When we’re hitting 3s, that’s what we want to do,” assistant coach Vonn Read said. “We want to make 10-12 3s a game … When we’re making shots like that, we’re tough to beat.” Comments Facebook Twitter Google+last_img read more

Playtech pushes on despite difficulties in Asia

first_img Retail closures have ‘severe’ impact on Playtech August 5, 2020 StumbleUpon Share Share Detailing its financial results for the six months to June 30, 2018, Playtech revealed that in spite of difficulties with its Asian operation, the firm’s overall revenue grew 4%. The gaming technology giant did however report a reduction in its EBITDA, which fell 13% to €145m, additionally, its adjusted net profit was €83.3m for the period, down 34 per cent year on year and 38 per cent in constant currency terms, something that challenges in the Asian market played a key part in.Away from Asia, Playtech is evidently in decent shape. Total revenues excluding Asia operations were up 35 per cent in the period, compared with H1, 2017, while 69 per cent of group revenues are now from regulated markets, up from 50 per cent a year ago. By the end of FY18, Playtech expects its regulated business to account for 80 per cent of group revenues.Playtech also completed the acquisition of Italian operator Snaitech in the period, on June 5, taking 100-per cent ownership from August 3. Earlier this year, Playtech indicated its strong acquisitions strategy would likely continue.Another business grown from acquisition, Playtech BGT Sports, continues to grow and perform well, with revenue up 27 per cent year on year and an eight-per-cent growth in retail machine footprint globally. Sun Bingo also performed strongly in H1, delivering a 28 per cent revenue growth at constant currency.The company also highlights new licensee wins in some of its key markets, most notably the multi-channel UK deal with Gala Leisure Buzz Bingo. Playtech’s plans to divest its interests in the GVC group are also continuing to progress, the company reports.Playtech’s poor performance in Asia comes as no surprise following July’s profit warning. At the time, the company said: “As previously reported, average daily revenue in Asia continues to be impacted by an increasingly competitive backdrop.“Towards the end of the first half, this market has seen a particularly aggressive pricing environment from new entrants to the market and this has impacted revenue.” Playtech said then it has seen “no material improvement” in its Malaysian business, a key territory for its Asian operations.Keen to highlight solid gains away from Asia, Playtech cited an average daily revenue in the B2B Gaming Division for the first 52 days of Q3 2018 as being up six per cent on the same period in the third quarter of 2017 (five per cent at constant currency and excluding acquisitions).The firm’s chairman Alan Jackson stated: “Playtech has had an extremely busy first half of the year with important operational progress and new licensee wins in key strategic markets, the UK, Europe and Latin America.“This continued progress is resulting in higher quality earnings for Playtech with group revenue now 69 per cent regulated. Following headwinds in Asia and a full year contribution from the landmark Snaitech acquisition, regulated revenue at current run rate is expected to be circa 80 per cent in 2018.“This progress is marked against the disappointing market conditions in Asia. However, it should be noted the headwinds in the Asian market are not reflective of the core strength of the Playtech model as the regulated segment continues to report organic growth and encouraging momentum.“Looking to the future, the delivery of the Snaitech acquisition in the period has not only delivered geographical diversification of the Group’s revenue profile but more importantly delivered a cornerstone presence in the largest, and one of the fasted growing gambling markets in Europe.” Jason Ader – No Boogeyman… Activism will play a vital part in reshaping gambling August 20, 2020 Playtech goes live in the US with bet365 August 7, 2020 Submit Related Articleslast_img read more

First Winter Olympic Academy Sarajevo 2013 starts today

first_imgProject of the Olympic Committee of BiH (OKBiH) and the U.S. Embassy in BiH – ”First Winter Olympic Academy Sarajevo 2013” will start with skiing on the Olympic mountain Bjelašnica.The aim of the project is to connect the young people from different towns of BiH, through various sports activities and education programmes about the spirit of Olympic Games. This project is a very significant step towards the strengthening the capacities for the development of new approaches, activities and strategies that will promote respect, friendship, tolerance, excellence, fair-play and solidarity through sports among the young of BiH.Forty high school students both sexes, different ethnic and religious affiliation  will participate in the activites of the Academy : programmes of skiing and skating, lectures about the spirit and value of the Olympic spirit, interactive workshops that will strenghten the team spirt, as well as chats with renowned sports workers and champions.High school students will on Wednesday, 23 January have the opportunity to talk with famous BiH sportsmen and sportswomen Larisa Cerić, Marko Rudić, Nenad Marković, Ivan Hmjelovjec and Bulend Biščević.Tomorrow, football strategist Haris Jaganjac (History of Olympic Games) and general secretary of Olympic Committee of BiH Said Fazlagić (EYOWF 2017) will give lectures, and the U.S. Ambassador Patrick Moon on Tuesday, 22 January will give a lecture on topic ‘Interethnicity’, while on Wednesday, 24 January, there will be a lecture by vice-president of the Olympic Committee BiH Marijana Kvesić (Unification of sport in BiH) and president of the Committee (Sports system in BiH).Project ‘Young ambassador’ will be presented on Friday, 25 January by speed-skater Edin Branković, and on the same day Edin Numankadić will hold a lecture on ‘Olympic museum of BiH’Students who participate in the work of the Academy were selected on the basis of their grades, and they will be given the opportunity to promote the values of Olympic Games in their local communitiesAs a part of the programme, participants will skii on Bjelašnica (21,22,23 January), skate in Zetra (24 January) and will have a tour of Baščaršija and Ferhadija (25 January)This is the first project of this kind, and it is financed by the Embassy of the USA in BiH.last_img read more