Swiss National Bank acted responsibly on currency peg, Publica says

first_imgThe Swiss National Bank’s (SNB) recent and controversial decision to stop pegging the Swiss Franc to the euro was, overall, “a responsible one”, according to Dieter Stohler, director at Publica, the country’s largest public pension fund.Stohler told IPE that, with the decision – which shocked many in the industry – the SNB had “further strengthened its credibility and independence”.However, he conceded that the timing of the bank’s decision took him by surprise.He said the SNB’s decision would not affect Publica’s CHF38bn (€31bn) in assets directly, as the pension fund has hedged all developed-nation currencies in its portfolio. He said the only impact on the scheme would be indirect, via investments in domestic equities – where, for many, the SNB’s policy will necessitate “painful adjustments over the short and medium term” – but he declined to provide further details.Meanwhile, Christoph Gort, a partner at Swiss asset manager Siglo, has warned of wider repercussions for Pensionskassen and their bond portfolios.He said Swiss government bonds were now “unattractive, overvalued and unsuitable in an ALM context if their yields remain negative”.Over the medium to long term, Siglo said it expected investors to offload Swiss bonds, as the current situation was “neither balanced nor stable”.Separately, at Baring Asset Management, Robert Smith, investment manager of Barings’ German Growth Trust, saw a potential positive in the SNB’s decision for neighbouring countries, pointing out that investing in markets such as Germany and elsewhere had “become a lot cheaper” for Swiss investors.“We may start to see increased capital flows as a result,” he said.Invesco’s chief economist John Greenwood backed Stohler’s views and said, after six months of euro depreciation, the SNB’s policy was a sensible one.“This is not the sort of policy move that can be telegraphed in advance,” he said.“It is not a big change for the world, nor a big event for the euro-zone. The ECB will go ahead with its plans [to announce the purchase of sovereign bonds] irrespective of Swiss action.”However, senior investment consultant at Mercer Switzerland, Dominique Grandchamp, was much less optimistic.He said the perception of the Swiss franc as a “safe-haven” currency would mean volatility would continue.Grandchamp disagreed with Stohler and said the move by the SNB damaged its credibility and thus its ability to intervene.“Unless the exchange rate moves back to the abandoned floor level, the impact could be significant,” he said. “In this scenario, we expect the export-reliant Swiss economy could decelerate and move towards a deflationary, recessionary environment with higher unemployment rates.“The impact on [Swiss pension fund portfolios] is very much determined by the strategic allocation to Swiss and global (unhedged) equities.”last_img read more

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Baleària eyes COVID-19 safe certification for its ships, terminals

first_imgSpanish ferry operator Baleària is working towards being the first shipping line in the world to obtain the Global Safe Site Covid-19 badge at the highest level (Excellence) from the international certification and inspection body Bureau Veritas. Specifically, the certificate will guarantee that Baleària goes beyond the guidelines of the Ministry of Health and the World Health Organisation, conducting more complete, reinforced procedures beyond those indicated by said authorities in terms of safety and cleaning. Image Courtesy: Baleària The certification is expected to be issued in early June and will be renewed every six months with periodic inspections. As explained, the badge will certify that the company’s ships and the ferry terminals it manages implement specific procedures, cleaning plans, organisational and personal protective measures to prevent COVID-19. As informed, certification will cover sixteen of the company’s ships and two ferry terminals that Baleària manages directly. For the initial analysis, samples will be taken from twelve ships and two ferry terminals, with nineteen analyses being performed, to be repeated each month on board two of the ships and at one ferry terminal. If a positive result is detected for any of the ships or facilities, an exceptional analysis will be conducted. “At Baleària we are working to increase the inherent level of safety of this means of transport, and Bureau Veritas certification will provide a guarantee that our ships are the most trustworthy means of travel.”  Baleària’s aim is to obtain the certificate at the Excellence level, for which Bureau Veritas will examine the effectiveness of its programme by measuring appropriate disinfection of surfaces to deal with any possible presence of the coronavirus, through periodic inspections conducted by a laboratory. The carrier will also periodically be testing for the possible presence of the virus on surfaces in order to obtain the certificate at Excellence level. As for personal protective measures, the audit will systematically check the personal hygiene and social distancing provisions, the handling of PPE and identification of sensitive workers, among other elements. In terms of organisational measures, the aspects to be analysed include cleaning and periodic disinfection, capacity reduction, staggered arrivals and departures, and measures to deal with infection or suspected cases. The inspection will lastly cover the cleaning and disinfection of the facilities, the adaptation of spaces and air renewal plans, according to the company. “Travel by sea is better able than any other to guarantee safety, since the large spaces available on board allow distance to be maintained between passengers,” Adolfo Utor, Baleària’s president, said. last_img read more

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Lady Cats Defeat Lady Patriots In Tennis

first_imgFranklin County visited Union County to take on the Patriots winning 5-0. Although this wasn’t a conference match, it was an important match due to the teams being in the same sectional. Franklin County showed their dominance in this match only losing two games total in all five varsity matches. Franklin County will have the weekend to rest up before playing Monday, May 7, against South Dearborn. The team is now 15-0 on the season.Scores#1 Singles Lilli Stewart (FC) beat Jessica Robinson (UC) 6-0, 6-0#2 Singles Megan Routh (FC) beat Lindsay Lang (UC) 6-1, 6-0#3 Singles Lauren Klei (FC) beat Aubrey Volz (UC) 6-1, 6-0#1 Doubles Grace Moster and Allie Routh (FC) beat Amanda Jahosky and Annie Henry 6-0, 6-0#2 Doubles Maggie Brack and Taylor McCreary (FC) beat Kylie Hetzer and Lauren Collins (UC) 6-0, 6-0Courtesy of Wildcats Coach Brayden Ertel.last_img read more

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ISP hiring regional dispatchers

first_imgIndianapolis, In. — The Indiana State Police are hiring regional dispatchers for the Regional Dispatch Center  in Indianapolis.Successful applicants must be able to receive, record, disseminate and accurately dispatch information to police personnel, other law enforcement agencies and other support services through the use of a Computer Aided Dispatch (CAD) System, Records Management System (RMS), Automatic Vehicle Locator (AVL), Geographic Information System (GIS) and other Regional Dispatch Center resources.A high school diploma or GED equivalent is required as well as the ability to be seated in a confined area for extended periods of time. Two (2) years of public safety communications experience and emergency medical technician certification are preferred.  Must become certified as a TDD/TTY operator and must have the ability to communicate effectively, both verbally and in writing.Must be able to remain seated in a confined area for extended periods of time and have the ability to maintain concentration simultaneously on numerous tasks in a busy and noisy environment.  Must remain calm in emergency situations and have the ability to work rotating or multiple shifts, requiring weekends and/or holidays.Pay starts at $30,082 per year.The deadline for applications is Friday, November 9th, 2018.For more information click here.last_img read more

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Rep. Lois Frankel Calls for Investigation into Epstein “Sweetheart Deal”

first_imgA Florida Democrat wants Congress to investigate the sweetheart deal given to financier Jeffrey Epstein.U.S. Representative Lois Frankel has joined with the Democratic Women’s Caucus in a letter to the House Oversight Committee.They want a probe launched into the 13 months of work-release that Epstein spent under the watch of the Palm Beach County Sheriff’s Office.There have been reports that he was allowed to arrange for sex while he was serving time, much of which was spent at his office and allegedly his home. The sheriff’s office has also launched both internal and criminal investigations into the matter.Frankel also wants Congress to look into Epstein’s so-called “sweetheart deal” with prosecutors back in 2008.The multi-millionaire now faces several federal sex trafficking charges in connection to underage girls and is being held without bond in a New York jail.last_img read more

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Grave holds out hope for ‘important’ women’s championships

first_imgBRIDGETOWN, Barbados (CMC) – Cricket West Indies (CWI) chief executive Johnny Grave says the governing body had gone to great lengths not to also scrap the junior and senior and women domestic championship, in light of the coronavirus outbreak in the region.The board on Tuesday announced it was aborting the two final rounds of the domestic first-class championship while also cancelling the Regional Under-15s Boys Championship and this summer’s West Indies Under-15s tour to England.But it said it would postpone the Women’s Super50 Cup and the inaugural Regional Under-19s Women’s T20 Championship with hope of staging both tournaments later this year.“They are very important tournaments, not just in terms of the preparation but in terms of the preparation for the selection of those respective squads as we look to compete in the World Cups of those events due to take place in the early part of 2021,” Grave said.The ICC Women’s 50-overs World Cup is carded for New Zealand starting in February next year along with the inaugural Under-19 Women’s World Cup scheduled for Bangaldesh.West Indies currently lie seventh in the eight-nation ICC Women’s Championship standard, with the top four gaining automatic qualification to the senior World Cup.Both domestic women’s tournaments were part of a suite of competitions suspended earlier this month for 30 days as CWI moved to restrict movement of players and officials as cases of the coronavirus were reported throughout the region.Grave said that these two women’s tournaments, along with West Indies High-Performance and International preparation training camps, would now not be held before May 31.“Following the advice from our medical advisory committee, we’ve extended the suspension that we announced 10 days ago which was for an initial 30-day period,” Grave explained.“We’ve now extended that until the end of the May as well as postponing a number of our tournaments, and we’ve reluctantly had to cancel some as well.”He continued: “We’ve also continued to pause all of our high performance camps and our international preparation camps until at least May 31 …“We’ll continue to monitor the situation, we’ll continue to have teleconferences with our board of directors and seek the advice of the medical advisory committee as we navigate the organisation through the effects of the COVID-19 pandemic.”The virus has also put in peril the men’s international home series against South Africa and New Zealand scheduled for July and August, along with June’s three-Test tour of England.There have been over 125 COVID-19 cases reported in the English-speaking Caribbean, including in the major cricket-playing nations of Guyana, Trinidad, Jamaica and Barbados.Globally, there have been over 421 000 cases of the virus with nearly 19 000 deaths reported.last_img read more

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Badger hockey wins sixth national title

first_imgAll it took for the Wisconsin men’s hockey team to break its longest drought of national title game appearances was a guy who knew a thing or two about Badger NCAA titles.In just his fourth year as head coach, Mike Eaves guided UW to its sixth national title. As a player, Eaves remains the Wisconsin all-time career points leader with 267 and helped lead the Badgers to the 1977 NCAA title.After going 1-1-1 in three overtime games to start the season, the 2005-06 Badgers went 13 games before taking another loss. UW took a 26-10-3 record into the NCAA Tournament, and hoped to improve on the previous season, where it came one win away from the Frozen Four.UW earned the No. 1 seed in the Midwest region and enjoyed the benefit of playing its games at the Resch Center in Green Bay. The Badgers enjoyed an easy 4-0 victory over Bemidji St. in the opening game, highlighted by Joe Pavelski’s hat trick. It took three overtimes for Wisconsin to come out with a 1-0 win over Cornell, but Jack Skille’s goal in the 112th minute advanced the Badgers to the Frozen Four.Wisconsin continued its home-state advantage, as the Frozen Four was hosted by Milwaukee’s Bradley Center. A 5-2 win over Maine set up a showdown with Boston College for the title.Tom Gilbert’s third-period goal gave UW a 2-1 win in front of a largely pro-Wisconsin crowd. UW fell behind 1-0 in the first period, but pulled ahead to cap off the program’s seventh 30-win season, finishing 30-10-3.UW fifth-year senior and current tri-captain Ben Street is the only player on this year’s squad that was a member of that title-winning team. Street had 10 goals as a freshman that season and remembers how determined the 2005-06 team was to win.“That team was just full of guys who would not lose,” he said. “It was a mindset every game — right from the get-go — that it was national championship or bust. That was the mentality.”last_img read more

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TRACK : Healthy Medrano aims to bounce back from poor indoor season this spring

first_img Comments The first race of Tito Medrano’s indoor track season ended miserably. The senior hit a wall halfway through his 3,000-meter race, finishing in a time comparable to those he ran as a freshman.As the season progressed, Medrano continued to struggle. He followed the first performance with a personal worst in the 3,000-meter race. Medrano and his coaches realized a serious issue existed, but they couldn’t identify it.‘The coaches and I were confused as to what was wrong with me,’ Medrano said. ‘They thought it was a mental thing, but I thought it was completely physical.’Medrano’s lackluster finish in the Big East championships prompted a blood test that revealed an iron deficiency. Since then, Medrano has taken the necessary steps to maintain proper iron levels in his blood. With a refocused attention on his health, Medrano – the reigning Big East champion and Second-Team All American in the 10,000-meter run – worked his body back into championship form for this weekend’s outdoor season opener at the Stanford Invitational.Getting through the indoor season, though, was a constant battle.AdvertisementThis is placeholder textHead coach Chris Fox compared Medrano’s iron deficiency to the fatigue of mononucleosis. He said the iron deficiency results from a combination of intense workouts and an improper diet.‘Sometimes when you train really hard and you don’t eat enough red meat or get enough iron supplementation somehow out of your diet, you can start to feel fatigued,’ Fox said.That depletion of energy set in early in the indoor season and pestered Medrano through the Big East championships. Medrano labored through workouts and failed to reach any of his personal expectations in meets.The senior quickly became frustrated.Junior distance runner Sean Keefe said when Medrano’s running at his peak, he gives younger runners a great example to look up to.And Keefe appreciates the opportunity to run alongside him during practices.‘Tito is the best training partner to have,’ Keefe said. ‘Any workout I can do, he can do and more.’But because of his inability to compete at his highest potential during the indoor season, Medrano feels he let down his teammates as a veteran leader.‘Coach has high expectations for me as a leader,’ Medrano said. ‘And I couldn’t show it this year.’Medrano remained stubborn all indoor season, believing he didn’t need a blood test for a diagnosis. After the indoor season concluded, though, he budged and learned of the iron deficiency.The diagnosis explained why he struggled during the winter, but questions of how he would rebound sprang up.Medrano made significant changes in his recovery and took dietary supplements for a time. He now incorporates spinach and steak into his diet. He even cooks on an iron skillet to boost his iron levels.Slowly, Medrano began to regain his comfort in workouts. And now, Medrano feels he has returned to form. He starts the outdoor season Saturday rejuvenated in the hopes of topping last year’s 12th-place finish at the NCAA Championships.‘I think I’m coming back to my old self,’ Medrano said. ‘Workouts have shown I’m in pretty good shape. I think the best is yet to come.’jspramuk@syr.edu Published on April 4, 2012 at 12:00 pm Contact Jacob: jspramuk@syr.educenter_img Facebook Twitter Google+last_img read more

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Syracuse can’t find the edge, more takeaways from No. 10 Virginia Tech’s win over SU

first_imgBLACKSBURG, Va. — No. 10 Virginia Tech (16-3, 5-2 Atlantic Coast) rode a hot-shooting start to stay perfect on its home court this season in a win over Syracuse (14-6, 5-2), 78-56. Coming off three-straight wins, SU had no answer on the defensive end and now no longer sits tied atop the ACC.Here are some takeaways from the Hokies’ win over the Orange.Mr. RobinsonJustin Robinson usually runs the show for Virginia Tech as its senior, lefty point guard. In the first half against Syracuse on Saturday night, he took scoring matters into his own hands.By halftime, Robinson had made seven 3s. That became his new career-high for a full game. Syracuse had 24 points at halftime, and so did Robinson.AdvertisementThis is placeholder textThe southpaw constantly busted the SU zone. VT used solid ball rotation to create open shot after open shot, and Robinson was often the beneficiary at the end of a drive-and-kick or a ball swing around the perimeter. The Hokies made 10 3s as a team in the first half.Syracuse limited Robinson out of the break, forcing him to pass off due to tight close outs. The Orange got back into the game, temporarily, to open the second half. Robinson didn’t hit a field goal for much of the second half, but he nailed a late 3 just as SU head coach Jim Boeheim sent three subs to the table. And then he hit one more, finishing with a career-high 35, and the VT fans chanted “J-Rob.”No edgeVirginia Tech entered the game with a top-100 defense, per Kenpom.com. But the Hokies gave SU as much trouble as any team this season early on, preventing Orange dribblers from finding any space to drive the ball. Each drive was met with quick sliding feet or a help defender. That forced Syracuse to fire up tough jump shots with time winding down in the shot clock.Entering halftime, SU had been called for three shot clock violations. That equaled the number of points Elijah Hughes, Syracuse’s second-leading scorer, had at the break. Hughes’ struggles continued, finishing 2-of-13 from the floor, including making just 2 for 9 from 3.That offensive flow changed to start the second half as the Orange tried to cut away at a big deficit. But then the Hokies rotations became crisp again. The Orange struggled to find an edge, allowing Virginia Tech needed to pull away.Breaking outComing out of the halftime break, Syracuse looked like a different team. The Orange scored the second half’s first 11 points by getting to the rim and getting stops.Battle drove for a floater. Brissett threw down a dunk. Paschal Chukwu had a putback. Brissett finished with the left after a hop step. That stretch also included three free throws.Isaiah Wilkins hit a reverse layup to end that stretch, but it got the Orange back into the ball game because they held the Hokies scoreless for almost five minutes, including two misses from the red-hot Robinson.But then the Hokies answered with a 14-1 run of their own, securing the ballgame. The Orange couldn’t make up a 21-point deficit with less than 10 minutes to play. Comments Published on January 26, 2019 at 10:19 pm Contact Billy: wmheyen@syr.edu | @Wheyen3center_img Facebook Twitter Google+last_img read more

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‘Why Uzoho Got Red Card’

first_img”He was repeatedly challenged with racist comments and with monkey sounds, he first showed his dissatisfaction to the fans without causing them, but they went ahead and continued with taunts,” Panikos Theodosiou revealed, according to Goal Cyprus.”The player apologizes to the rest of the fans and his team. But it is time to start in Cyprus to punish the actors rather than the victims, especially when we have to face racist attitudes.”On Tuesday, the management of Alki Oroklinis stated that preliminary investigations conducted suggests that there was no racist attack on Uzoho and they are determined to remove such behaviors from the stadiums if this is proven.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Super Eagles goalkeeper Francis Uzoho received the first red card of his career in the 23rd minute of Anorthosis’s 3-0 home win over Alki Oroklinis in the Cypriot top league on MondayUzoho was given his marching orders for unsportsmanlike conduct, shortly after Anorthosis had scored their second goal of the game.The Deportivo de La Coruña player on loan at the Cyprus club was dismissed after he gave the middle finger to a section of the Alki Oroklinis supporters who racially insulted him. Francis Uzoholast_img read more

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