UK regulator grants Guinness Peat more time to address warning notice

first_imgAt the end of June, both the Brunel and Staveley schemes had IAS19 deficits of £35m, up from £28m, while a third fund, the Coats UK Pension Plan, had a deficit of £108m.However, it said discussions with the regulator had shown that the amount would not be “sufficient to result in TPR ceasing its investigations and withdrawing the Warning Notices”.The report adds: “The currently proposed package of measures comprises a combination of cash invested directly into the schemes and cash invested into the sponsoring employers of the schemes, which would be loaned within the group over the long term.“Capped parent company guarantees from GPG plc are also included.”The company said that, if no agreement can be reached among trustees, the board and the regulator that it deems acceptable, it will instead be referred to the regulator’s Determinations Panel.GPG said it did not expect a panel hearing to occur before the first half of 2015, after it negotiated the three-month extension to respond to TPR’s warning. Guinness Peat Group (GPG) has been granted a further three months to address a formal warning by the UK Pension Regulator (TPR), the result of deficits in two of its pension funds.GPG and the trustees of one of the affected defined benefit schemes, the Brunel Holdings Pension Scheme, requested that a deadline to submit written responses to January’s warning be extended, delaying any resolution until the first half of 2015.TPR’s warning is a step ahead of its issuing a financial support direction (FSD), whereby it specifies the level of financial support a sponsor must provide to schemes.Publishing its half-yearly results, the New Zealand-based investment holding company repeated that it was prepared to set aside £124m (€156m) to support both the Brunel and Staveley Industries Retirement Benefits Scheme.last_img read more

Pellegrini bids to end Lampard saga

first_img Lampard has been the face of New York City’s marketing campaign ahead of their inaugural season and many fans demanded a refund on their season tickets after it was confirmed he would remain in Manchester until the summer. City boss Pellegrini said: “I think it’s an issue which is finished. Frank now is here. I know that there a lot of different opinions about Frank, about that. I respect all of them, but the decision is taken already and Frank will stay here until the end of the season.” Lampard released a statement via Steve Kutner Management on Friday morning seeking to clarify the situation, although clarity is one thing sorely lacking. “I want to make it completely clear about my situation as I have read a lot of lies and nonsense over the last few days,” the 36-year-old said. “When released from Chelsea last year at the end of my contract I signed a commitment to play for NYCFC for two years starting January 1, 2015. I was then offered the chance to train and be part of the Man City squad in the interim to keep myself in the best shape going into New York. “This period has since been extended by Man City and I will now start playing for NYCFC at the end of this current Premier League season. “There has always been a constant dialogue between all parties in this time to find the best solution for everyone. I can say that I am very excited about arriving in New York and giving everything to the team to make us a success in the MLS as soon as possible.” Pellegrini, meanwhile, did not rule out trying to hold onto Lampard beyond the end of the season. The Chilean said: “I think Frank is doing very well with us and I am happy with him as part of the squad. Not only on the pitch but off the pitch, as a professional, as a leader, which is always good for young players, to see him working here. “But at the end of the season, he finishes his contract here. I cannot say what will happen in the future. If I say I cannot say, you will suppose that maybe he will stay here.” There has been confusion over the precise nature of Lampard’s contract status in relation to both clubs since it was announced on New Year’s Eve that he would remain with the Barclays Premier League champions until the end of the season. That announcement has delayed his debut with sister club New York until midway through their first MLS campaign, to the anger of many fans in the United States. On Thursday, the Premier League announced that, after reviewing Lampard’s status, it was satisfied his contract was solely owned by Manchester City with no agreement in place between the two clubs – which sparked fresh speculation he might never play in MLS. But Lampard issued a statement via his representatives which said he does have an agreement in place with New York and will move there in the summer. Quoted in the Guardian, City said: “The statement on the NYCFC website in July saying Lampard’s two-year contract took effect from Aug 1, 2014 was a mistake. [The] initial statement on City’s website that it was a loan was also an error. “There was a head of terms commitment from Lampard to join NYCFC from Jan 1, 2015. That was extended to the end of this season. Any contract with NYCFC will now take effect from July 1, 2015.” Manchester City and New York City, both part of the City Football Group, have been criticised on both sides of the Atlantic for their handling of the situation. With Yaya Toure heading to the African Nations Cup, City were understandably keen to keep Lampard after his return of seven goals, largely as a substitute, but in doing so they have angered the fan base of New York City before they have kicked a ball in competitive action. Manchester City on Friday admitted making mistakes in the way the former Chelsea midfielder’s move to the Etihad Stadium was reported. It was claimed in August that Lampard had joined City on loan until the start of January after penning a deal with Major League Soccer side New York City FC earlier in the summer. Manuel Pellegrini wants a line to be drawn under the Frank Lampard contract saga. Press Associationlast_img read more

I’ll continue to support COVID-19 fight in Ghana till it’s gone – Agyemang Badu

first_imgGhanaian midfielder Emmanuel Agyemang Badu says he intends to keep supporting the efforts to fight COVID-19 in Ghana until the disease is eradicated.Badu, who plays for Serie A club Hellas Verona, is in the midst of a strict lockdown in Italy which has been hit harder than most countries by the disease.Italy currently has 178,972 confirmed cases of the disease with 23,660  deaths so far a rise by about 10,000 cases and 1,500 deaths since Friday.Drawing from his experience in Italy, Badu says he knows how desperate the situation globally is and says he intends to do everything he can to support the efforts in his home country.“I’m in the middle of this pandemic here in Italy, so I know how people are struggling and suffering. This is the time for me to help.”He stated that he has donated some PPE to hospitals in Kumasi and  Berekum and has also made some items available to the police as well.“I bought some masks, gloves and sanitizers for a hospital in Kumasi – the women and children’s ward. And I played in Berekum for a long time, so I bought some for the hospitals there, and for the police and Muslim community.”“And in the village I was born, I donated a lot of stuff to the police and the hospitals. They’re saying prevention is better than cure, so I wanted them to have these things to be safe and be very careful of this dangerous virus.”Ghana currently has 1,042 confirmed cases with nine deaths but a three-week lockdown which was imposed to curb the spread has since been lifted.Badu insists that he will continue to send more items to the country in order to help contain the spread.“The numbers are increasing, so next week I need to send some more stuff to hospitals. We will keep doing it until we see this virus is gone. I am in the middle of it here and I know how much I’m struggling here so we all need to help and take care of people in Africa.”A number of other Ghanaian players have donated to the efforts as well including Inter Milan player Kwadwo Asamoah.The Ghana Football Association has also offered the Ghanaman facility for use as an isolation centre.last_img read more

Food packages go out to families during school closure

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisALPENA, Mich— Many school districts in Northeast Michigan are taking part in a school closure food program. Families packed the parking lot of Mio Ausable Schools this morning leaving no food left after just an hour.Over 1600 food packages were distributed to children 18 years old or younger. Packages consisted of seven nutritious breakfast meals and seven lunch meals.There was no cost for the packages and no pre-registration. Children did not have to be Mio students and parents were advised to stay in the car when picking up packages.Mio Ausable Schools Superintendent Paul Ciske says, “They will have more food and better preparation next week.”AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisContinue ReadingPrevious Bay Athletic Club offers virtual workouts for members who can’t attend during coronavirus shut downNext Alcona couple teach mushroom workshoplast_img read more

Will Smith drives in 6 as Dodgers rout Nationals

first_imgIn the seventh inning, he came up with the bases loaded and missed a grand slam by a few feet, lining a three-run double off the wall in left-center field as the Dodgers broke the game open.“It’s just showing up and being ready to compete,” said Smith who has hit .345 (10 for 29) with four home runs, 12 RBI and a 1.256 OPS in 10 games over three promotions to the big leagues this year.“The older guys in this clubhouse make it way easier. Just be ready to go and when you’re name is called upon do what I do.”Asked if he expects to stay this time, Smith said only, “I hope so.”Smith’s home run was the first by a Dodgers catcher since Austin Barnes on June 20 (Smith hit a home run as a pinch-hitter on June 23). And his six RBIs are the most by a Dodgers catcher since Barnes drove in seven at San Diego on June 30, 2017. Cody Bellinger homer gives Dodgers their first walkoff win of season “We have a long lineup as it is,” Robert said. “But obviously when you get a guy in there in Will who can turn the lineup over, who can drive in runs and who can hit a ball out of the ballpark it’s just tough to navigate. It really is.“Obviously we haven’t seen him a lot up here. But what we’ve seen, what we’ve learned about him and how he’s performed in Triple-A, just watching his swing and his demeanor — it’s real. He’s not going to drive in six every night. But I think you can bet on the quality and to do what he also does behind the plate, a two-way player, it’s pretty special.”Corey Seager also had two hits, including an RBI double, and Max Muncy scored three runs after two singles and a walk as the Dodgers feasted on a diminished Nationals pitching staff.Former UCLA left-hander Matt Grace gave the Nats two perfect innings as the “opener” before Joe Ross replaced him and was battered by the Dodgers hitters for seven runs on nine hits over the next five innings.“I think once they brought Ross in the game we just stayed in the big part of the field,” Roberts said. “I think you saw us take what Joe was going to give us — Muncy going the other way, Corey going the other way, obviously Will going the other way (for his home run). Staying on the breaking ball, the sinker away to the lefties — that right there was the damage.”The Nationals’ only damage against Kershaw came in the first inning. He gave up a leadoff single to Trea Turner and a triple to Adam Eaton who scored on a sacrifice fly.Kershaw allowed just one more hit in his six innings. The Nationals didn’t get another runner past first base against Kershaw until he issued back-to-back two-out walks in the sixth inning. How Dodgers pitcher Ross Stripling topped the baseball podcast empire Dodgers’ Max Muncy trying to work his way out of slow start Fire danger is on Dave Roberts’ mind as Dodgers head to San Francisco center_img Dodgers hit seven home runs, sweep Colorado Rockies WASHINGTON — Will Smith will always have fond memories of his time in Oklahoma City. But he can probably have all of his stuff boxed up and forwarded to Los Angeles.In his first start since returning from Triple-A, Smith had a home run and two doubles, driving in six runs and leading the Dodgers to a 9-3 victory over the Washington Nationals on Saturday afternoon.“It’s impressive. Those are really good swings on all of them,” Dodgers starter Clayton Kershaw said of his 24-year-old batterymate. “What can you say? It was really impressive all around.”Smith was recalled from Oklahoma City on Friday with promises from Dodgers manager Dave Roberts of “a good runway” to become the team’s primary starter at catcher. Smith did not play Friday but hit a solo home run in his first at-bat Saturday, drove in a run with a sacrifice fly to the center-field wall in his second at-bat then hit an RBI double his third time up. Newsroom GuidelinesNews TipsContact UsReport an Error Smith is the first Dodgers rookie with six RBIs in a game since James Loney had a nine-RBI game on Sept. 28, 2006. Only two other rookie catchers have had six RBIs in a game for the Dodgers, both with Brooklyn – Bernie Hungling (April 26, 1922) and Al Lopez (August 13, 1930).Between his start June 26 (after which Smith was sent back to OKC) and Saturday, Dodgers catchers (Barnes and Russell Martin) had a combined total of three extra-base hits and eight RBIs.Related Articleslast_img read more