Brexit: Investors respond as draft agreement emerges

first_imgAsset managers and asset owners have called for UK and EU negotiators to protect the interests of savers and investors as they flesh out the detail of a Brexit agreement.UK prime minister Theresa May last night announced the draft withdrawal agreement following what she described as a “long, detailed and impassioned debate” between cabinet ministers.She also acknowledged there would be “difficult days ahead” – and this morning several ministers resigned in protest at the agreement, including Brexit minister Dominic Raab, Northern Ireland minister Shailesh Vara and work and pensions minister Esther McVey.However, Chris Cummings, chief executive of the Investment Association, the trade body for UK asset managers, said the agreement was “a significant breakthrough”. “European savers and the industries that serve them can take some comfort from the announcements today, which mitigate some of the worst feared cliff-edge effects of a ‘no deal’ Brexit and provides a clearer road ahead,” he said. Theresa May addresses reporters on 14 November“Although there are still important political hurdles to clear in the coming weeks, and firms will continue to keep their contingency plans under review, the details published today will give firms more clarity on the shape of the future relationship between the EU and the UK. There is still much to be negotiated but today’s announcement take us closer to a new relationship with the EU.“All efforts must now be focused on securing a final agreement that protects the interests of European savers and investors and which allows the asset management industry to flourish.”Speaking at an event in London today, Azad Zangana, senior European economist and strategist at Schroders, said the draft agreement marked “the end of the very beginning of Brexit” and that, if all went well, a cliff-edge “no deal” situation would be avoided.However, he warned that this was still one of several possible outcomes from a transition period, in addition to a hard, soft, or “limbo” Brexit. Pension fund trade body’s tentative welcomeNigel Peaple, director of policy and research at the Pensions and Lifetime Savings Association (PLSA), said: “Brexit negotiations have created a great deal of uncertainty and, provided the deal gets through parliament, we believe that it could help to provide economic stability which remains a key issue for our member schemes.“It’s imperative that any deal agreed takes into account the interests of the pension industry, as well as savers, in order to help those entering their retirement years do so in a comfortable manner.”The association has previously called for the government to maintain a free trade agreement for goods to support businesses and therefore pension funds.In the political agreement published jointly by the UK and EU, the negotiators stated that they had agreed to “comprehensive arrangements creating a free trade area combining deep regulatory and customs cooperation, underpinned by provisions ensuring a level playing field for open and fair competition as described below”.The agreement also stated there would be “zero tariffs, no fees, charges or quantitative restrictions across all goods sectors”.‘Nothing is agreed until everything is agreed’center_img Michel Barnier presents the draft agreement to the European CommissionIn a statement today, the European Union’s negotiators reiterated their mantra that “nothing is agreed until everything is agreed”.“The EU and UK negotiators will continue their work on the political declaration on the framework for the future relationship based on the outline published today,” the statement said.The European Council – made up of the government leaders of EU member states – will need to ratify the agreement, as will the UK parliament.Additional reporting by Susanna Rustlast_img read more

Why I live in … Celebrity chef Matt Golinski shares why he loves living on the Sunshine Coast

first_imgPomona is still a beautiful little country town a lot like the one I grew up in.People are friendly and helpful and it has a great sense of community. A small Queenslander cottage in Pomona right near Mt Cooroora!I have no desire whatsoever to move from where I am right now.The only things I’d like is one more bedroom and a bit more land so I could grow more food. Celebrity chef Matt Golinski with a snapper at Main Beach, Noosa. Picture: Mark Cranitch.Matt Golinski is an Australian celebrity chef best known for his regular appearances on the television show Ready Steady Cook.Golinski’s love of food started at an early age. Growing up on a tropical fruit farm on the Sunshine Coast surrounded by fresh produce has influenced his style of cooking throughout his entire career. By the age of 12, he had decided he wanted to be a chef, and 31 years later his passion for the industry he loves only continues to grow by the day.Today, he still lives on the Sunshine Coast and shares his property dreams with The Sunday-Mail. I live in a small Queenslander cottage in Pomona that I’ve spent a lot of time doing up.I love the feel of these types of houses, despite all of their faults they have so much character and almost have a personality of their own.I love being in Pomona because it’s still a little country town with great people and I love Mt Cooroora. I love the kangaroos, kookaburras, king parrots, the cat bird that bangs its head against my pizza oven, the sound of whip birds and frogs.Even the bandicoot that digs holes all through my garden.I like that I can look out any window and see beautiful lush greenery. 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 What would you change about your home? The old classic: buy the worst house in the best street. What do you love about your home?center_img What is the best thing about your suburb? If money was no option, what would be your fantasy home and where? I’d give it one more bedroom and another quarter of an acre of land so I could have a bigger garden. Where do you live and why? What was the best piece of property advice you were given?last_img read more

US LNG developer NextDecade plans to ink Rio Grande EPC deal with CB&I in Q2

first_imgThe proposed Rio Grande LNG export facility (Image courtesy of NextDecade)US LNG export project developer, NextDecade is planning to sign a binding engineering, procurement, and construction (EPC) deal with CB&I for its proposed Rio Grande project in the second quarter of this year.The company said this in a statement on Thursday announcing the completion of the front-end engineering and design (FEED) update package for the LNG export project in South Texas.The update incorporates identified cost reduction and value improvement initiatives and reconfirms market-leading EPC cost estimates for three trains of $490 per ton with a target of $450 per ton, the statement said.For two trains the EPC cost estimate improved to $535 per ton with a target of $500 per ton, it said.“Utilizing Air Products’ AP-C3MR liquefaction technology and GE rotating equipment to achieve optimal configuration and economies of scale, Rio Grande LNG stands out thanks to its proven project design allowing for low risk, highly competitive economics across multiple build scenarios,” said NextDecade CEO Matt Schatzman.The scalable development affords NextDecade flexibility to reach final investment decision (FID) with as few as two trains, without sacrificing economics.“We intend to develop our full 6-train project at Rio Grande, and by incorporating a competitive, scalable design, we are able to offer a lower risk profile to both investors and customers beginning with our first two trains,” added Schatzman.NextDecade and CB&I are currently finalizing an open book estimate to incorporate the FEED update improvements, the statement said.last_img read more

Moyes set for £2m bonus if he saves West Ham from relegation

first_img But the Scot, 56, will be well rewarded if he can repeat the feat he pulled off in his first, short-term spell in 2018 and keep West Ham up thanks to the £2m bonus. And it is understood there are further incentives written in beyond survival relating to West Ham’s final position. Moyes confirmed there is also an extension clause in the contract he signed to replace Pellegrini who was halfway through a three-year deal worth up to £7m-a-year including his bonuses when the axe fell. And he is confident he will haul West Ham clear of trouble and earn an extended stay. Read Also:West Ham confirm David Moyes return on 18-month deal Moyes said: ‘This time I’m going to make it where there’s no choice that they [West Ham] will always want to renew in the future. ‘I’m really that thrilled to go again and I’m going to make it impossible that the clause can’t be implemented.’ FacebookTwitterWhatsAppEmail分享 Loading… Promoted ContentTop 7 Best Car Manufacturers Of All TimeCouples Who Celebrated Their Union In A Unique, Unforgettable WayBest & Worst Celebrity Endorsed Games Ever MadeTop 10 Tiniest Phones Ever MadeYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime10 Risky Jobs Some Women Do5 Of The World’s Most Unique Theme ParksA Little Cafe For Animal Lovers That You Will Never Want To Leave10 Largest Cities In The WorldPlaying Games For Hours Can Do This To Your Body7 Worst Things To Do To Your Phone8 Weird Facts About Coffee That Will Surprise Youcenter_img David Moyes is in line for a £2million bonus if he can steer West Ham to Premier League safety — and will earn even more if the Hammers finish further up the table. moyes West Ham turned back to Moyes after sacking Manuel Pellegrini on Saturday. Moyes begins his second reign as Hammers manager against Bournemouth on Wednesday with the club 17th, just a point outside the drop zone and on a poor run of just two wins from their last 13 league games. David Moyes is looking at a £2million bonus if he can guide West Ham to Premier League safety Moyes returned to the London Stadium on an 18-month deal worth around an initial £2m a year.Advertisementlast_img read more

Pirates Take Care Of Business Against Bulldogs In Volleyball

first_imgBatesville showed up to play, but Greensburg came to play! Dogs lose to Pirates at all levels.Varsity: GB 25-23, 25-21, 25-20Batesville vs. Greensburg Varsity VB (10-6)JV: GB 25-14, 25-23Batesville vs. Greensburg JV VB (10-6)Home match tomorrow against South Dearborn with a 5 PM JV and Freshman start.Courtesy of Bulldogs Coach Jody Thomas.last_img

IMCA Speedway Motors Weekly Racing National Point Standings Through Feb. 12

first_imgIMCA Xtreme Motor Sports Modifieds – 1. Zane DeVilbiss, Farmington, N.M., 265; 2. Hunter Marriott, Brookfield, Mo., 248; 3. Tim Ward, Gilbert, Ariz., 236; 4. Jeffry Sheppard Jr., Golden Val­ley, Ariz., 222; 5. Brian Schultz, Casa Grande, Ariz., 221; 6. John Parmeley, Phoe­nix, Ariz., 185; 7. Lance Mari, El Centro, Calif., 183; 8. Collen Winebarger, Corbett, Ore., 175; 9. Ricky Thornton Jr., Chandler, Ariz., 169; 10. Marlyn Seidler, Underwood, N.D., 162; 11. Ryan McDaniel, Oli­vehurst, Calif., 160; 12. Tyler Mecl, Queen Creek, Ariz., 149; 13. Shawn Strand, Man­dan, N.D., and Spencer Wilson, Minot, N.D., both 148; 15. Paul Stone, Winton, Calif., 144; 16. Garrett Funk, Phoenix, Ariz., and Mike Jergens, Plover, Iowa, both 141; 18. Eric Center, Mesa, Ariz., 134; 19. George Fronsman, Surprise, Ariz., 126; 20. Mark Stewart, Sedona, Ariz., 124.IMCA Sunoco Stock Cars – 1. Manny Baldiviez, Chula Vista, Calif., 118; 2. Joey Essary, Yuma, Ariz., 109; 3. Steven Daffern, Brawley, Calif., 103; 4. Jimmy Davy, Yuma, Ariz., 102; 5. Henry Buijno­rouski, Yuma, Ariz., 97; 6. Jordan White, Yuma, Ariz., 94; 7. Andy Altenburg, Truman, Minn., 79; 8. Jon Courchaine, Pound, Wis., 74; 9. Race Fisher, Dove Creek, Colo., 70; 10. Thomas Daffern, Brawley, Calif., 66; 11. Tony Hill, Cortez, Colo., 62; 12. David P. Jones, Chan­dler, Ariz., 37; 13. Paul Pilgrim, Yuma, Ariz., 34; 14. Travis Dove, El Centro, Calif., 31.IMCA Sunoco Hobby Stocks – 1. Jason Beshears, Yuma, Ariz., 113; 2. Leonard Jones, Yuma, Ariz., 110; 3. Frank Maisano, Yuma, Ariz., 97; 4. Leonard Manos, Yuma, Ariz., 73; 5. Steve Stone, Yuma, Ariz., 67; 6. Brent Wofford, Yuma, Ariz., 64; 7. Tim Whitehead, Yuma, Ariz., 62; 8. Wayne Rebello, Alpine, Calif., 35.Karl Chevrolet Northern SportMods – 1. Fred Ryland, Brentwood, Calif., 119; 2. Chris Toth, Holtville, Calif., 116; 3. Wayne Dot­son, Bakersfield, Calif., 103; 4. Richard Mueller Jr., Jackson, Wyo., and Joshua Cordova, Somerton, Ariz., both 101; 6. Miles Morris, Yuma, Ariz., 99; 7. Corey Clayton, El Centro, Calif., and Kyle Smith, Yuma, Ariz., both 97; 9. Steve Kihle, Williston, N.D., 91; 10. Thomas Harrison, Somerton, Ariz., 87; 11. Cody Daffern, Brawley, Calif., 74; 12. James Dupre, Yuma, Ariz., 73; 13. Megan Ponciano, Oak­ley, Calif., 72; 14. Josh Hensley, Atwater, Ca­lif., 70; 15. Jeremy Hoff, Copperopolis, Calif., and Al Johnson, Antioch, Calif., both 68; 17. Ryan Larimer, Merced, Calif., 62; 18. Matt Mayo, Bakers­field, Calif., 61; 19. Ronald Pegues, Brawley, Calif., 59; 20. Anthony Giuliani, Morgan Hill, Calif., 56.last_img read more

PASSCAR opens 20th season Saturday at Perris Auto Speedway

first_imgPERRIS, Calif. – After a successful 20th anniversary season opener for sprint cars at Perris Auto Speedway last Saturday night, the Riverside County clay oval will kick off the 20th anniversary PASSCAR season this Saturday, March 14. Saturday’s show will feature Super Stocks, Street Stocks, American Factory Stocks and the highly anticipated return of the IMCA Xtreme Motor Sports Modifieds.Saturday’s race will be the first IMCA sanctioned Modified race at The PAS since 2005. Since 2007, the track started sanctioning the class under the PASSCAR banner. At the urging of racers, sanctioning for the division is reverting back to IMCA in 2015. The track has had an increase in the size of the fields for the Modifieds the past few years and going back to IMCA should draw even more cars. Drivers competing in the division will earn points not only for the PAS IMCA Modified track championship, but also toward IMCA Speedway Motors Weekly Racing national, regional and Allstar Performance State point standings.The eight races at The PAS will all be part of the Larry Shaw Western Region. “We are really excited to welcome IMCA back to The PAS,” promoter Don Kazarian said, “especially in its centennial season. A lot of drivers asked us to go back to IMCA. This will allow cars from other tracks to come race with our regulars as they try to earn state, regional and national points. It will also allow our drivers to venture to other tracks as the rules are now the same. For the past few years our street stock class has usually been the largest on race nights. The modified class has been getting bigger the past couple seasons and it may end up being the largest this year. It is going to be very exciting.” 2014 champions Blaine Whitson (super stocks), Eddie Gurwell (street stocks) and Dalton Everhart (Modifieds) are all expected to be in action on Saturday. Spectator gates will open at 5 p.m. Saturday and racing will begin at 7 p.m. Adult tickets are $15. For active military members with proper ID, teens 13-18 with their school ID and kids ages 6-12, admission is $5. Children five and under will be admitted free.Advance tickets for all events at The PAS, with the exception of the World of Outlaws, are available 24 hours a day by calling 1 800-595-4849 or online.For more information on The PAS call 951 940-0134.Camping is available for $25 per night for all PAS events. The campground opens at noon the day before each event. Tailgating in the spectator parking lot will begin at 1 p.m. for all PAS events as well. Perris Auto Speedway is located on the Lake Perris Fairgrounds.last_img read more

Tweet lands Sagbo two-match ban

first_img Sagbo admitted the offence and was originally handed a £15,000 fine, warned as to his future conduct and ordered to complete a compulsory education course. But the Football Association appealed against the sanction on the grounds it was “so unduly lenient as to be unreasonable”. Press Association An appeal board upheld the challenge and Sagbo will now miss Hull’s first two games of the new season. A statement on read: “At a hearing, an Independent Appeal Board upheld the FA’s appeal against the original sanction imposed and ordered that Sagbo be suspended for Hull City’s first two competitive first-team matches of the 2014-15 season in addition to the £15,000 fine and attendance at an education programme. “This decision is final and binding and there is no right of further challenge.” Anelka performed the controversial gesture after scoring for West Brom against West Ham in December. In February, the striker was banned for five matches and fined £80,000. He then declared he was quitting West Brom, who sacked him for gross misconduct. center_img Hull striker Yannick Sagbo has been banned for two matches for a tweet he sent supporting Nicolas Anelka’s use of the quenelle gesture.last_img read more

Pellegrini upbeat despite tough run

first_imgManchester City manager Manuel Pellegrini is confident he can withstand the growing pressure as his side’s title bid wavers. Pellegrini said: “They are a very good team, not only at this moment – they are always a very difficult team, especially playing at the Britannia. “But we are going to go as we always do when we play away, to try and win the three points from the first minute.” City will be without Yaya Toure and Wilfried Bony, who are yet to return following their success with Ivory Coast at the African Nations Cup in Equatorial Guinea. The absence of Toure has again been keenly felt. City have not won in the league without their talismanic midfielder this season, with Saturday’s last-gasp draw against Hull the sixth such occasion. Pellegrini said: “He is a very important player, and it is very important to have Yaya back and play with the team. But we don’t just depend on one player. We must win without him.” Bony’s arrival will be equally welcomed. City have struggled for goals in recent weeks, particularly from their strikers. Top scorer Sergio Aguero has not found the net in five appearances since returning from a knee injury, Stevan Jovetic last scored on New Year’s Day and Edin Dzeko has been barren since September. Bony, signed last month from Swansea for £25million, has the ability to rejuvenate the attack at a crucial juncture, although Pellegrini will not criticise his current options. The Chilean said: “One thing is not linked with the other. We have Edin Dzeko, we have Jovetic, we have Kun Aguero, we have Silva. We have a lot of players that always score. “Bony will be a very important player for the squad also, but we are not just depending on what Bony can do.” It was anticipated former England midfielder Frank Lampard might have played a more prominent role in Toure’s absence, particularly given the controversy last month over his status with sister club New York City. Lampard, 36, who is now staying with City until the end of the season, has made just four substitute appearances since Toure departed and did not even get off the bench against Hull. Pellegrini said: “Frank is a very important player for us, either starting in the 11 or after as a substitute, so he will continue playing the way I think is useful for the team. “I don’t think he can’t play 90 minutes. When the other teams have played 50 or 60 minutes, I think Frank makes more of a difference. “His best moments of the season came as a substitute and he scores. I hope he continues in the same way.” Pressure is growing on Pellegrini – and one report has even claimed City are monitoring Atletico Madrid’s Diego Simeone as a potential successor – but the Chilean insists he cannot feel it. The 61-year-old, speaking at a press conference to preview Wednesday’s trip to Stoke, said: “I never feel pressure, I have repeated the same answer for the same question for the last two years. “The only pressure is my own pressure that I make myself when I don’t feel the team is playing well. “I think we are in a normal position, we are involved in the Champions League. If we win tomorrow we will have just two points less than (the same stage) last season. “We have a lot of things to think about, more important than pressure. I don’t feel any pressure inside the club or outside.” Despite that, there is a feeling the heat is on as City prepare for a vital midweek trip to the Britannia Stadium. Stoke’s form contrasts with that of City, with the Potters having won six and lost just one of their last nine games. They also won at the Etihad Stadium earlier this season and are unbeaten in their last six home league games against City. Press Association The champions have slipped seven points behind Chelsea at the top of the Barclays Premier League after a dismal run of results. City have not won in five games in all competitions, a sequence which included an FA Cup defeat at the hands of Championship side Middlesbrough. last_img read more

Tim Murtagh leads Ireland to victory against Zimbabwe

first_img After losing early partners, Middlesex all-rounder Paul Stirling looked to be taking Ireland to a comfortable win but he fell for 50, before Gary Wilson and Kevin O’Brien also followed cheaply. However, after falling to 160 for eight, Murtagh came in with a couple of lusty blows to take Ireland over the line alongside McBrine to round off the series. Tim Murtagh shone with bat and ball as Ireland secured a consolation win in the third one-day international against Zimbabwe in Harare. After losing the previous two games in the three-match series, Ireland pulled the score back to 2-1 with a nervy two-wicket win with Andy McBrine edging the winning runs. It appeared to be a straightforward chase for the tourists after Murtagh took a career-best four for 32 with the ball to dismiss Zimbabwe for just 187 – Sean Williams and Sikandar Raza both making half-centuries – but they were made to work hard with the bat. center_img Press Associationlast_img read more