​Per Frennberg moves up to chair AP7

first_imgSweden’s finance ministry has announced former Alecta chief investment officer Per Frennberg is now moving up to become the new chair of AP7’s supervisory board, after serving as deputy chair of the premium pension system’s SEK674bn (€64bn) default fund for the last 12 months.In its annual announcement on changes to the AP funds’ boards – which as usual follows the most recent annual report to parliament on the national pension funds – the government also named seven new members taking their place on the panels.At AP7, Frennberg – who left Sweden’s largest pension fund Alecta in 2017 after eight years as CIO – is replacing the fund’s outgoing chair Rose Marie Westman, who is leaving the fund’s board after serving the maximum allowable term of eight years, the finance ministry said.Finance Minister Per Bolund said: “I am happy to continue to strengthen the boards’ competence and I want to take the opportunity to express my appreciation for their and the funds’ work.” The funds – five of which are buffer funds backing the largely pay-as-you-go income pension component of the state or general pension – had an important mission in managing the pensions of the Swedish people, he said.Both AP7 and buffer fund AP1 are getting new deputy chairs, with Emma Ihre and Anna Hesselman, respectively, taking on the second-in-command roles at the two funds.Other new members to be appointed to the AP funds are Erik Sjöström to AP1’s board, Åsa Erba-Stenhammar to AP2 and Carina Wutzler to AP3.  Per FrennbergAP4 is seeing the arrival of three new board members – Monica Elling, Aleksandar Zuza and Helen Eliasson, while Magnus Vesterlund has been appointed to AP7’s board, according to today’s government announcement.Altogether the AP funds have 50 board members, all of whom are appointed for one year at a time.By law, four members of each of AP1, AP2, AP3 and AP4 – the biggest buffer funds – are appointed based on proposals from employee and employer organisations.Publishing the government’s 2019 report on the six AP funds, which released their annual results individually earlier this year, Bolund said last year Sweden had introduced the world’s most stringent legislation for sustainable management of pension capital.“The fact that last year’s carbon footprint fell by 9% indicates a break in the trend,” he said.“I am very pleased that the AP funds are now stepping up their sustainability work and we are already seeing how this will have an effect,” the minister said.To read the digital edition of IPE’s latest magazine click here.last_img read more

Subsea 7 nets ‘sizeable contract’ in shallow water

first_imgSubsea engineering and construction company Subsea 7 has been awarded a sizeable contract for a conventional project, in shallow water. Subsea 7 defines a sizeable contract as being between $50 million and $150 million.The company said on Thursday that the offshore execution of the awarded conventional project, in shallow water, is planned for 2019.However, the company disclosed no further details due to contractual obligations.Subsea 7 also on Thursday announced changes to the membership of the board of directors, with new appointments being subject to approval at the AGM on April 17, 2018.According to the company, Peter Mason, currently Senior Independent Director and Chair of the Corporate Governance and Nominations Committee, will not be standing for re-election at the AGM.Furthermore, Robert Long, currently a member of the Audit and Compensation Committees, will be retiring from his directorship effective April 17, 2018.The board proposed David Mullen and Niels Kirk for election as independent non-executive directors at the AGM.The board will elect a new senior independent director and committee members at the next meeting of the board, in May.The board also proposed Jean Cahuzac and Eystein Eriksrud be re-elected as directors of the company at the AGM.last_img read more

Japan nuclear plant: Radioactivity rises in sea nearby

first_img Share Sharing is caring! 44 Views   no discussions Tweet Sharecenter_img Share HealthLifestyle Japan nuclear plant: Radioactivity rises in sea nearby by: – March 26, 2011 Levels of radioactive iodine in the sea near the tsunami-stricken Fukushima nuclear plant are 1,250 times higher than the safety limit, officials say.The readings were taken about 300m (984ft) offshore. It is feared the radiation could be seeping into groundwater from one of the reactors.But the radiation will no longer be a risk after eight days, officials say.There are areas of radioactive water in four of the reactors at the plant, and two workers are in hospital.The plant’s operator says the core of one of the six reactors may have been damaged.It has announced that fresh water rather than seawater will now be used to cool the damaged reactors, in the hope that this will be more effective.Prime Minister Naoto Kan said the situation was “very unpredictable”.The official death toll from the 11 March earthquake and tsunami has passed 10,000, and more than 17,440 people are missing.Hundreds of thousands of people have been made homeless; an estimated 250,000 people are living in emergency shelters. Food, water and fuel are in short supply.The Japanese government has put the rebuilding cost at $309bn (£191.8bn).Safety measures The levels of radiation found in the sea near the plant were more than eight times higher than those found in the same area last week, the Japanese officials said.A spokesman for Japan’s Nuclear Safety Agency said the radioactivity level in the sea off the nuclear plant was “relatively high” but the impact on marine life would be minor.“Generally speaking,” spokesman Hidehiko Nishiyama told a news conference, “radioactive material released into the sea will spread due to tides, so you need much more for seaweed and sea life to absorb it.”He continued: “And, since [the iodine] has a half-life of eight days, by the time people eat the sea products its amount is likely to have diminished significantly.”The contamination probably came from both airborne radiation released from the reactors or tainted water that spilled into the sea, Mr Nishiyama said.In a televised address on Friday, Prime Minister Kan said: “The current situation is still very unpredictable. We’re working to stop the situation from worsening. We need to continue to be extremely vigilant.”He also thanked the workers, firefighters and Self-Defence Forces for “risking their lives” to try to cool the reactors at the Fukushima Daiichi plant.Japan’s chief cabinet secretary Yukio Edano has said a rigorous inquiry is under way to establish the cause of a leak at the plant, after tests showed water in the turbine halls of reactors 1 and 3 had radiation levels 10,000 times higher than normal.Japan’s Nuclear Safety Agency has reiterated its position that it believes the reactor may have been damaged but it is going no further than that, says the BBC’s Mark Worthington in Tokyo.The agency has denied any suggestion that the reactor core may have cracked, Kyodo news agency reports.The two affected workers, who remain in hospital, had reportedly not been wearing the correct protective boots and had ignored a radiation alarm at the plant.Food fearsA revision of safety measures has been ordered.The government has asked people still living within 20-30km (12-18 miles) of the nuclear facility to leave voluntarily. Until now, residents in the zone had been advised to stay indoors.Japan has banned shipments of foodstuffs grown in several prefectures around the damaged nuclear plant.People in Fukushima prefecture have been told not to eat 11 types of green leafy vegetables because of contamination worries.Importers of Japanese products are finding low levels of radiation in some food stuffs, however the amounts found do not pose a health hazard.China, Singapore, Hong Kong, and other Asian importers have already placed bans on some imports of vegetables, seafood and milk products.Australia, the European Union, the United States and Russia have followed suit.The Fukushima plant is 250km north-east of the capital, Tokyo.Radioactive iodine was detected in Tokyo’s water supply earlier this week. Levels have since fallen, but remain high in other areas of northern Japan.Source: BBC Newslast_img read more

Saudi takeover plans for Newcastle on track

first_imgMike Ashley’s plans to sell Newcastle United remain on track. No more handshakes says Newcastle The Chronicle says the Magpies are continuing to be pursued for a takeover attempt by the Public Investment Fund of Saudi Arabia. And while reports of a bid being lodged are premature, there is word of progress being made in the Middle East. Many supporters at St James’ Park are hopeful unpopular owner Ashley will finally be ousted on Tyneside.Advertisement The takeover bid from the PiF has progressed quite far. In the Middle East, word is said to be spreading of the potential move to buy Newcastle. read also:Newcastle takeover could shake QPR board The positive update will leave fans further optimistic of Ashley being bought out. FacebookTwitterWhatsAppEmail分享 Promoted ContentYou’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeBest & Worst Celebrity Endorsed Games Ever MadeSome Impressive And Almost Shocking Robots That ExistThe 10 Best Secondary Education Systems In The WorldCouples Who Celebrated Their Union In A Unique, Unforgettable Way8 Superfoods For Growing Hair Back And Stimulating Its GrowthUnusual And Unique Beauty Of Indian WomenWhat Is A Black Hole And Is It Dangerous For Us All?7 Facts About Black Holes That Will Blow Your MindA Hurricane Can Be As Powerful As 10 Atomic BombsBirds Enjoy Living In A Gallery Space Created For Them10 Actors That Started Their Careers On Soapscenter_img Loading… last_img read more

Top Larry Shaw Western Region rookie DeVolder also delivers tour, state titles

first_imgLarry Shaw Race Cars Western Region IMCA Modified Rookie of the Year Shane DeVolder. (Photo by Tom Macht, www.photofinishphotos.com)PACIFICA, Calif. – An early season trip to Arizona built the foundation for Shane DeVolder’s Larry Shaw Race Cars Western Region Rookie of the Year campaign.The Pacifica, Calif., hotshoe, a graduate of the Karl Chevrolet Northern SportMod division, logged eight IMCA Modified February starts in the Grand Canyon State. The seat time proved invaluable as he took that experience home and earned All-Star Modified Tour and California State honors as well as the regional rookie prize.“We started off the year at the Arizona Modified Tour. Racing with all those cars definitely helped a lot,” he said. “The Modified is a whole new class for us and our goal at the start of the season was to improve every time we went out. We spent a lot of time and effort working on our pro­gram.”His career first win came over the Memorial Day Weekend. DeVolder earned $1,200 and a spot on the Fast Shafts All-Star Invitational ballot when he took the Santa Maria Raceway Nationals checkers.“Our first win was amazing,” said DeVolder, a junior at Design Tech High School in Redwood City. “I didn’t know if we’d be able to win a feature let alone one of the biggest shows in the region this year. It was pretty cool that we were able to be competitive.”He won for the second time, at American Valley Speedway, the week before he celebrated his 17th birthday.In all, DeVolder raced at a dozen different tracks in the region, including eight in California. He was consistent everywhere he raced, wrapping up the All Star Modified Tour title on the final week­end of the season.“We thought we had a shot at the state championship because we planned to travel around a lot,” De­Volder said. “The tour (championship) was really the big one for us because we raced with so many good drivers.”Wins-2                    Top Five Finishes-25         Starts-45HIS CREW: Father Dean, Ally Thornton, Dylan Thornton and Paul Hanely.HIS SPONSORS: Circle Victory Chassis & Parts, Sivesind Suspension, Golden Empire Towing and Elite Signs, all of Bakersfield.last_img read more

UCL: Valencia stun Chelsea at Stamford Bridge

first_imgRelatedPosts Lampard: I still have confidence in Tomori Mane double eases Liverpool to win over 10-man Chelsea EPL: Chelsea, Liverpool in cagey duel Ross Barkley missed a late penalty as Chelsea succumbed to a 1-0 home defeat to Valencia in Frank Lampard’s first Champions League match as manager. Rodrigo’s volley put the Spanish side ahead before the Blues won a contentious late penalty after Daniel Wass was adjudged to have handled in the area. But substitute Barkley stepped up and hit the crossbar with his effort to miss the chance to salvage a draw and fall to a disappointing defeat. Lampard made just one change to his line-up with Kurt Zouma replacing the injured Antonio Rudiger after an encouraging 5-2 victory against Wolves on Saturday. But the Blues suffered an early blow when Mason Mount’s Champions League debut came to a premature end after suffering an ankle injury just nine minutes into the match . The 20-year-old suffered a heavy knock to his ankle after a high challenge from Valencia’s Francis Coquelin, who was shown a yellow card for the tackle from referee Cuneyt Cakir. The Chelsea midfielder initially tried to run off the knock but soon realised he couldn’t continue and limped off to a standing ovation at Stamford Bridge. After the injury, the Blues failed to recover their momentum as Valencia grew into the game and Rodrigo should have put the visitors ahead only to head straight at his compatriot Kepa. Despite two chances for Willian before and after the break, the visitors went ahead after a clever free-kick routine. Dani Parejo lifted it over into Rodrigo’s path and the Spain international volleyed past Kepa Arrizabalaga. Chelsea had the chance to level late on after VAR controversially awarded the hosts a penalty when Wass handled in the area. After a three-minute delay, referee Cuneyt Cakir pointed to the spot but substitute Barkley, grabbing the ball confidently, hit the bar with his spot-kick. That was the closest Chelsea came to equalising as the Blues began their Champions League return with defeat.Tags: ChelseaDaniel WassFrank LampardRoss BarkleyUEFA Champions LeagueValencialast_img read more

Morgan and Bopara rescue England

first_img Press Association Eoin Morgan hit a superb century against his native Ireland to ensure his adopted country England avoided embarrassment in the RSA Challenge one-day international. When Tim Murtagh then took three early England wickets, Ireland’s hopes of repeating their famous 2011 World Cup win over their neighbours were high. But although the hosts continued to look much sharper in the field than under-strength England had done, the experience of Morgan and Bopara – making amends for falling short in the Champions Trophy final in June and reaching his highest ODI score – shone through. Morgan ended unbeaten on 124 after hitting eight fours and four sixes and Bopara finished in a hurry, reaching 101 after 10 fours and five sixes. It was a world record fifth-wicket partnership in one-day international cricket. Despite the flat finish, it was still a momentous occasion for Irish cricket with a near-capacity crowd of 10,000 spectators being fully entertained. There had been suggestions the Irish had been slighted by England’s decision to rest a number of star names after their Ashes summer, and irritated by the selections of Morgan and Rankin. But the home team’s batting performance was excellent, with Porterfield leading from the front with his 142-ball 112, his sixth ODI hundred. Overcoming his poor form for Warwickshire this summer, he struck 14 fours and a six before falling to Rankin, who was the only one of England’s three debutants to shine. It was not a day for another making his first ODI appearance, Michael Carberry, to remember. The Hampshire batsman dropped two regulation catches in the deep, including one off Porterfield on 85, and then fell early in the reply. Rankin overcame an initially wayward start – his second delivery went for five wides – to finish with four for 46. He had Peter Stirling caught off the edge by the third debutant, Gary Ballance, at second slip and then forced former England batsman Ed Joyce back to dislodge a bail with his foot. That double strike reduced the hosts to 36 for two but Porterfield began to repair the damage in a 59-run partnership with fellow left-hander Niall O’Brien for the third wicket. Off-spinner James Tredwell, with two for 35, caused some problems and was unlucky when O’Brien skied him to Carberry at deep midwicket and saw the chance put down. O’Brien then flashed narrowly wide of wicketkeeper Jos Buttler, a miss compounded by Balance’s comical failure to prevent a four. His luck finally ran out when Tredwell nipped one back through his defences to bowl him for 26. Tredwell followed up by bringing one back the other way into right-hander Gary Wilson to win a leg before decision, although replays suggested the wicketkeeper-batsman was unlucky. Kevin O’Brien was unable to build on a promising start and his slightly mistimed pull off Bopara was brilliantly caught by Morgan. Porterfield had a scare when he nicked one straight past Ballance at slip and his innings should have ended 15 short of three figures when the hapless Carberry dropped another catch. Carberry, by then a figure of fun for the crowd, made an unimpressive entry into the attack, going for 12 off his one over with Porterfield particularly keen to get stuck in as he approached his hundred. He reached the landmark off 131 balls with a pulled six off Rankin. Rankin hit back to bowl his county colleague in the 46th over and then trapped John Mooney lbw for 27 four balls later. That briefly slowed Ireland’s momentum but Max Sorensen took up the challenge, clubbing an unbeaten 24, with two sixes, in the closing overs as the hosts finished on 269 for seven. England’s reply began poorly as Carberry’s dismal day continued when he was trapped leg before by Trent Johnston for 10 in the fourth over. Luke Wright had a lucky escape when Murtagh had a strong lbw appeal turned down. The reprieve was only temporary as Murtagh forced Wright to chop onto his own stumps in the ninth over. Two balls later Ballance was unable to get his bat out of the way of a ball he attempted to leave and was caught behind. James Taylor looked composed for his 25 but his dismissal, clean bowled by Murtagh in the 15th over, left England in trouble. Yet there was to be no stopping Morgan and Bopara, who began slowly but eventually finished with a flourish. Morgan brought up his century with a six, and after being dropped on the boundary by Niall O’Brien he finished the job with another maximum. Ravi Bopara also cracked a rapid hundred, his first in an ODI, in a superb unbroken 226-run stand with Morgan as England recovered from 48 for four to win in Malahide by six wickets with seven overs to spare. Ireland’s score of 269 for seven had been based around a fine century by their captain William Porterfield, who eventually became one of four victims for another of England’s Irishmen, Boyd Rankin. last_img read more

Hammers reveal increased debt

first_img For the year ending May 31 2013, when they finished 10th in the Premier League, West Ham enjoyed record revenue of £89.8million and had more commercial income than ever before but the club still made a loss of £3.5million. That, however, was a significant improvement on the £24million loss of the season before, when they were in the Championship, and club bosses believe the move to the Olympic Stadium in 2016 will herald a new era of financial success. Meanwhile, West Ham manager Sam Allardyce said the loan signings of Italian pair Antonio Nocerino, a midfielder from AC Milan, and striker Marco Borriello, from Roma, should breathe new confidence into the club, which has been in or close to the relegation zone all season. He does not, however, expect to bring in any more new players this transfer window. Allardyce said: “At long last, after a gruelling eight weeks or so, we’ve finally managed to secure two new faces. “Milan have taken Michael Essien from Chelsea, which left the door open for Antonio to come and try and play in the Premier League, which he’s very excited about. “He wants to play and wants to achieve as much as he did in Italy, as well as wanting to get in the Italian squad for the World Cup. “Marco wants to come and chance his arm, like most players will, in the most exciting league in the world. “He has got a good track record for being a lively frontman scoring a few goals, even though recently that’s not been the case due to a few niggly injuries. “With the reintroduction of Andy (Carroll) now as well as Marco, it should bring a bit more optimism to everyone at West Ham at the moment, with the fact that these players are coming back, new players have signed and obviously some big games coming up for us.” Nocerino should be available for face Chelsea on Wednesday and Allardyce insists though it will be tough at Stamford Bridge the Hammers can cause an upset. He added: “Jose seems to have made Chelsea very difficult to break down again and that frees up their quality players to make an impact. “West Brom should have beaten Chelsea earlier in the season. So if we play to our best we can get a good result.” The co-owners have now loaned the Hammers a total of £45.7million and in the summer refinanced the club’s bank loans – these now total £26.7million, payable in January 2016, plus a further £15million the club took out on a short-term basis secured on broadcast income. The riches from the new Premier League TV deal, which became available last summer, are worth an extra £20million a year, say the club. West Ham’s vice-chairman Karren Brady said in the annual report: “The board is determined to maximise the prospects of retaining Premier League status by making a significant investment in the playing squad. “The group benefited from excellent support from the major shareholders David Sullivan and David Gold who invested loans totalling £10.5million during the year. “The three-year TV contract from the summer of 2013 is likely to be worth at least an estimated £20million annually.” Brady added that new Premier League spending controls would “limit the ability of clubs to over-extend themselves on player costs” and will help West Ham “increase profitability”. The accounts show West Ham’s wage bill increased to £56.2million from £41.6million. The highest-paid director, believed to be Brady, received £1.6million up from £427,000 no doubt in recognition of record figures of turnover, attendance, commercial income and the securing of the Olympic Stadium from the start of the 2016-17 season. West Ham’s net debt has increased to £77million and owners David Sullivan and David Gold have loaned the club another £10.5million to try to secure their Premier League status, the club’s annual accounts have revealed. Press Associationlast_img read more

Cricket News Ravi Shastri To Get Salary Hike, Here’s How Much He Will Make As Team India Coach

first_imgRavi Shastri’s annual package may rise to more than Rs 9.5 crore.Indian cricket team’s support staff will also be getting a hike.These new contracts would be into effect from September 1. New Delhi: Ravi Shastri is expected to get a salary hike after being reappointed as head coach of the Indian cricket team. According a report in Mumbai Mirror, Ravi Shastri is set to get a 20 per cent increase from his previous contract. This means Shastri’s annual package and CTC will now rise to somewhere between Rs 9.5 crore to Rs 10 crore. He had been getting about Rs 8 crore in his previous contract.According to the report, the Indian cricket team’s support staff will also be getting a hike. The bowling coach Bharat Arun is expected to get about Rs 3.5 crore. Fielding coach R Sridhar is also expected to get a similar package. Vikram Rathour, who has been appointed the new batting coach in place of Sanjay Bangar, will get somewhere between Rs 2.5 crore to Rs 3 crore. These new contracts would be into effect from September 1.Ravi Shastri has said focus will be on investing in youth during his second stint as India begin preparations for next year’s World T20 and the later stages of the ongoing World Test Championship.The former India all-rounder is pretty clear about the kind of composition he would like in the coming days.“The path should be that knowing well you have got 12 months to go for the T20 World Cup and you have about 18-20 months to go for the World Test Championship,” Shastri told the Gulf News on his return from the tour of Caribbean.“Getting youth in during that transition period is important so that they can mix with the experience and give us a really solid side.”(With PTI Inputs) highlightscenter_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more

Nigeria Moves up Four Spots in April FIFA Rankings

first_imgSuper Eagles  Super Eagles now third-best team in AfricaNigeria’s good outings in the last AFCON 2019 qualifier against Seychelles and the international friendly with Egypt in Asaba have brought good fortunes to the Super Eagles in the April rankings released by FIFA Thursday.The three-time African champions who moved up four places to 42nd spot globally are rated the third best team in Africa. Nigeria accumulated 1435 points, eight more than Eagles previous tally.Eagles defeated Seychelles 3-1in a dead-rubber last game while also running away with 1-0 victory over the Pharaohs of Egypt. Now, the glory-seeking Eagles who will be hunting for a fourth AFCON title in Egypt this summer are trailing the Teranga Lions of Senegal who are the continent’s top team and Tunisia’s Carthage Eagles.Morocco and Congo Democratic Republic make up the top five teams in the continent in that order.In the global rankings, Belgium maintains her overall first position, world champions France comes in at number two, while Brazil, England and Croatia occupy the third, fourth and fifth position respectively. Uruguay is sixth while Portugal, Switzerland, Spain and Denmark make up the top ten of the global rankings.AFRICA’S TOP TEN1. Senegal2. Tunisia3. Nigeria4. Morocco5. Congo DR6. Ghana7. Cameroon8. Egypt9. Burkina Faso10. MaliShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more