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Talk of the towns

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ECB: Pension funds will ultimately benefit from low interest rates

first_imgLow interest rates will only be a problem for pension funds for the short term, Mario Draghi, the president of the European Central Bank (ECB), has suggested.Addressing the Dutch Parliament on Wednesday about the ECB’s monetary policy, Draghi emphasised that the ultra-low interest rates policy was crucial for economic recovery, which will also benefit pension funds for the long term.The Netherlands’ predominantly capital-funded and defined benefit pensions system, with approximately €1.2trn of assets, has been particularly hit by low interest rates, with politicians and pension funds voicing strong opposition to the policy.The ECB’s deposit rate has not been above 1% since 2009. Recently, experts estimated the damage to Dutch pensions at €60bn: a €100bn rise in liabilities caused by the low rates was only partially offset by a €40bn rise in asset values, they calculated.While acknowledging the negative impact of low interest rates on pension funds that guarantee benefits, Draghi said that low rates were necessary for recovery and employment.“We need to offset short-term negative effects against the positive effects for the long term,” he said.According to the ECB president, with an economic recovery, interest rates and returns would also improve and liabilities would decrease.Draghi did not address questions about legal proposals from 50Plus, the Dutch political party for the elderly, to introduce a minimum discount rate for liabilities of 2%.“The ECB has not been tasked with setting the supervisory rules for pension funds,” he said.Dutch pension funds must use a discount rate based on the market rate, with the application of an ultimate forward rate of currently 2.8%.The official discount rate, as prescribed by supervisor De Nederlandsche Bank, stands at approximately 1.68% at the moment.last_img read more

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SR 156 to reopen tomorrow

first_imgVevay, IN—S.R. 156 in Ohio County is expected to reopen Saturday afternoon (12/14), weather permitting. The road closed in July for a slide repair project between Patriot and Rising Sun. Crews are currently cleaning up the area and applying pavement markings.Unfortunately, it’s not finished yet.  Motorists can expect additional closures and restrictions this next construction season as additional sections of roadway are in need of repair due to slides. Further information will be shared as we move closer to spring.last_img read more

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Blackpool accept Cardiff Ince bid

first_img The 21-year-old is one of the most sought-after players in the Championship after making his name as a goalscoring midfielder at Bloomfield Road. Cardiff are looking to strengthen their squad after promotion to the Barclays Premier League, but Paul Ince reckons it is only “50-50” his son will move on. “Cardiff have come in massively for Thomas, the chairman’s accepted the offer,” he said in an interview with Blackpool’s official Youtube channel. “I’m not sure what the offer is because I’ve been away, but that’s been accepted, so it’s a case of when he comes back next week, Thomas, we’ll sit down and see what he wants to do.” Blackpool have been on warm weather training in Portugal, but Thomas Ince was given extra time off because of his involvement with England Under-21s and is not due back at the club until a week on Monday. Paul Ince added: “He loves it here. He said to me, ‘I’m in no rush to get to the Premiership, I’m in no rush to leave Blackpool. “I think it’s 50-50 at the moment. It’s a tricky one for me because obviously you want your son to be playing in the Premiership, but you obviously want your son to be playing with you. “I feel as far as improvement there’s still a long way for Thomas to go and will he get that if he went to the Premiership? I’m not too sure. I know what he needs because he’s grown up with me. Another year wouldn’t hurt him at Blackpool.” Press Associationcenter_img Blackpool have accepted a bid from Cardiff for Thomas Ince, according to manager Paul Ince.last_img read more

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Manchester United insist David de Gea will not be frozen out

first_img Press Association A United spokesman told Press Association Sport: “Those reports are absolute rubbish, the team will always be picked solely on merit.” De Gea’s current United contract expires at the end of the season and there is little expectation at the club that he will sign a new one, as he will be a free agent come June and able to sign a lucrative deal with a new club – almost certainly Real. Reports in Spain had suggested that De Gea may not get a fair crack of the whip for United, something that would be a big problem for him at international level for Spain with the Euro 2016 finals next summer. United are convinced, however, that De Gea will maintain his professionalism and compete for a first-team place against Argentina keeper Sergio Romero. Van Gaal had explained his absence from the team during August by saying he was not in the right frame of mind to play while a transfer to Madrid remained a possibility. Spain coach Vicente Del Bosque has called for De Gea to “be professional and move on from this episode”, warning that he needs to be playing regularly at club level to remain in the international picture. “I hope that he starts playing again and is happy,” he said. “If he doesn’t play, it will be very difficult for him to come to the Euros.” United have now included his name in their Champions League squad, which means if he plays in the group stage he would be cup-tied should Madrid or any other club try to sign him in January – though it looks much more likely he will move on next summer. United face PSV Eindhoven, CSKA Moscow and Wolfsburg on their return to European competition. Both United and Real Madrid have blamed each other after the move broke down due to paperwork not being submitted in time – United say they have a receipt from the FIFA transfer system proving they did so in time. De Gea and out-of-favour keeper Victor Valdes were both included in United’s 25-strong Barclays Premier League squad on Thursday. Manchester United insist goalkeeper David de Gea will not be frozen out of the team even if he refuses to sign a new contract.center_img Reports in Spain have claimed De Gea is worried about being left out of the side after his move to Real Madrid collapsed on transfer deadline day, leaving the 24-year-old at Old Trafford at least until January and probably until next summer. The keeper was sidelined by manager Louis van Gaal during August while the uncertainty over his future continued, but the club say De Gea will now be treated just like any other member of the squad. last_img read more

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Mallards get close win

first_imgThursday night, millions of Americans waited on pins and needles for LeBron James’ free agency decision. However, in Madison there was only one thing on the minds on local fans: Mallards baseball. 4,753 hardcore baseball fans were in attendance at Warner Park to watch the Madison Mallards beat the Wisconsin Rapids Rafters 4-3. The Mallards headed into the game as one of the hottest teams in the Northwoods League with a six-game winning streak.Ex-Packer kicker/offensive lineman Jerry Kramer threw out the first pitch, bagpipers played the national anthem and the “Duck Pond” grew rowdy in anticipation as the announcer yelled, “Play ball!”The game started off with a bang as Wisconsin Rapids first baseman Evan Laude hit a solo home run in the top of the first to put the Rafters up 1-0. The Mallards answered back with an RBI single from center fielder Lucas LeBlanc, who broke out of his first half slump going 3-for-3 with 2 RBI’s.“I was trying to do too much at the beginning of the year,” LeBlanc said. “I felt a lot better tonight. I just relaxed and tried to have fun.”The fun continued for LeBlanc, as he hit an RBI triple in the bottom of the fifth to tie the game at 2-2. LeBlanc scored off a wild pitch one batter later, giving the Mallards a 3-2 advantage heading into the sixth.LeBlanc was selected in the 11th round by the Boston Red Sox in the 2010 MLB Draft. He plans on playing for LSU next year.“LeBlanc had a couple of great games right away and started to struggle,” assistant coach Randy Molina said. “It’s nice to see him start to realize his potential.”In the sixth inning, both teams went back and forth, scoring one run a piece. By the seventh inning stretch, the Mallards held a 4-3 lead and the fans showed their delight by singing in unison to “take me out to the ball game.” There were fruit races (a knockoff of Milwaukee Brewers’ sausage races), dizzy bat races and more mid-inning events to provide fans of all ages with a great experience.The Mallards closed out the game, thanks in large part to the pitching of closer J.R. Graham, who clocked in at 95 miles per hour. He struck out the last two batters to pick up his second save of the season.“Everything felt good tonight,” Graham said. “I was locating my fastball and throwing hard.”Although, the Mallards fell short of winning the first-half of the season, they are hoping that their seven-game win streak can give them momentum heading into the second-half of the season. When you consider the recent play of the pitching staff along with the emergence of Lucas LeBlanc, winning the Northwood League in the second-half is not out of reach.“This team is on a roll,” Graham said. “I hope we can go out and win the second-half now.”last_img read more

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Playtech BGT terminals are first choice for UK & Ireland Independent bookmakers

first_img Playtech trades with confidence to mitigate first stage COVID-19 impacts May 20, 2020 On-course bookies rail against ‘severe’ age-verification penalties January 29, 2020 Submit PettitFTSE-listed Playtech Plc’s sports betting technology division Playtech BGT Sports (PBS) continues its strong 2017 commercial momentum detailing that it has signed a number of self-service betting terminal (SSBT) contracts with UK & Ireland independent bookmakers.Over recent months, PBS has secured new deals with G Bet, Wilf Gilbert, Victoria Gate Casino, Sean Graham and Star Sports Mayfair.Furthermore, Playtech’s sports betting division has renewed its existing supplier contracts with Corbett’s, Toals, Bet Sid, Toolan’s, GR8Odds and S&D. The improved contracts will see average terminal density levels double in these shops.Updating stakeholders, John Pettit, Managing Director for UK, Ireland, Asia, and Australia at Playtech BGT Sports, stated that PBS growth across independent retailers demonstrated the division capabilities of servicing a board range of bookmakers.“The independent sector has shown it’s ready for the challenges it faces on the high street and embracing the latest in technology and retail trends is key to this.” Pettit, stated“The various deals we have signed with new and existing operators alike prove that there is a hunger amongst independent operators to adapt and thrive in the space, offering their customers the increased range of betting opportunities they now expect.“Our SSBTs are unmatched in the incremental revenue generated through in-play betting and an extensive choice of markets and sports, giving independent operators the competitive edge required to compete with the greater marketing spend of others.” Countdown to Cheltenham: Star Sports on why they ‘do not bet on an opinion’ March 10, 2020 Related Articles Share Share StumbleUponlast_img read more

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Boye excited to captain Ghana

first_imgJohn Boye will skipper Ghana against Japan in his first ever role as leader for a national side.Kwesi Appiah preferred to give the armband to the consistent centre-back ahead of other long standing members of the team.It is temporal measure but one Boye really relishes.Boye said: “Everybody is prepared for the friendly game [Japan game]. And I am prepared too. We hope to win so that we continue [winning run].”“I feel okay and this is my first time. I never dreamt of this. It’s a temporal thing and I am happy that I am captaining the team.“Everybody is cool with it.”last_img read more

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Clippers change website to say ‘We are one’

first_imgThe Clippers website today has been changed to a dark grey background with white text that says ‘We are one’ above a clippers logo. The change took effect following NBA Commisioner Adam Silver’s announcement of a lifetime ban from the NBA and a $2.5 million fine for Los Angeles Clippers owner Donald Sterling. The social media profile images for the Clippers were also changed to the same message. Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img

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