Room for pension fund investment in EU project bonds, says EIB

first_img“The dominant buyers were insurers, so there is room for pension funds to scale up,” he told delegates at the PensionsEurope conference in Frankfurt.He hinted that the next project bond might be for a project in the UK but did not give any further details.Pierre Bollon, vice chair at PensionsEurope in charge of long-term investments, noted the association was currently working on the proposed regulation on long-term financing and suggested it should be made “less rigid and hence more attractive, especially for small and medium-sized occupational pension schemes”.This week the European parliament issued a draft legislative proposal on the European long-term investment funds (ELTIF) proposals, backing the Commission’s suggestion to create such funds under the AIFM directive.According to figures collected by the EIB around 1% of assets held by sovereign wealth funds, pension funds and insurers globally was currently invested in infrastructure.At the conference, the UK’s Pensions Infrastructure Platform (PIP) received a positive reception, with a representative of the Belgian pension fund association in the audience asking Judith Donnelly, working at the UK infrastructure project, whether it was also open to foreign investors.Donnelly noted the PIP currently had ten of the largest UK pension schemes as committed investors, with an initial target capital raise of £1bn.The fund’s founding investors include the British Airways and the Railways pension funds, the Pension Protection Fund (PPF), the London Pension Fund Authority (LPFA), BAE Systems, The West Midlands Pension Fund and the pension fund of BT.“PIP would have no objection in principle to include further investors if the existing investors cannot meet the target size but we do not want to expand the investment target,” she explained.Matti Leppälä, director general of PensionsEurope, pointed out while the association generally “welcomed the initiative on investments in growth and employment” they should any commitments should only be made “for the right reasons”.“Overall, the total costs may be too high and increased capital requirements may altogether prevent these envisaged investments,” he said, referencing the impact of future changes to solvency requirements for pension funds. The European Union’s next project bond issuance could offer funding to an undisclosed project in the UK, according to the director general of the European Investment Bank (EIB).In 2010, the president of the European Commission Jose Manuel Barroso announced plans to issue project bonds to attract institutional investors to long-term investment projects.The first project bond was launched in October, offering funding for a Castor gas storage project in Spain.According to Bertrand de Mazières, director general of the EIB, the bond issue, with a volume of €1.4bn and a 2034 maturity, was oversubscribed and attracted a “very strong” response from investors.last_img read more

Update on the latest sports

first_imgEric Ayala scored 19, Jalen Smith had 18 points and 11 rebounds and Aaron Wiggins added 15 points for the Terps. Cowan, a senior guard, went 7 for 11 from the floor and hit six free throws in the final minute.Maryland moved into a first-place tie with Wisconsin, and Michigan State had a chance to make it a three-way deadlock by defeating Ohio State later on Sunday. If two or more teams tie atop the standings at the end of the season, it is a shared championship.In other top-25 games Sunday:— Fabian White Jr. had 18 points and 14 rebounds, Quentin Grimes added 17 points and No. 21 Houston defeated Memphis 64-57. Grimes had 15 second-half points, which led a 17-2 run for the Cougars. Nate Hinton had 13 points for Houston, which shot 34% overall including 48% in the second half. The Cougars will finish at least in a tie for second in the American Athletic Conference. Precious Achiuwa had 25 points and 15 rebounds and Lester Quinones added 10 points for Memphis.NBA-BUCKS-ANTETOKOUNMPO INJURY Lakers snap Clippers winning streak, win 112-103PHOENIX (AP) — — Anthony Davis scored 30 points, LeBron James added 28 and the Los Angeles Lakers beat the Clippers 112-103 on Sunday, snapping their Staples Center co-tenant’s six-game winning streak. Avery Bradley added 24 points to help the Lakers won their fourth in a row and 11th in 12 games. They pulled away in the second half after the Clippers’ smothering defense helped them lead most of the first two quarters. The Lakers recently clinched a playoff berth for the first time since 2013, and it’s possible they could meet the Clippers in the postseason. Paul George scored 31 points, Kawhi Leonard added 27 and Montrezl Harrell had 20 for the Clippers. They lost to the Lakers for the first time in three games this season.In other NBA action:— Reigning MVP Giannis Antetokounmpo (YAH’-nihs an-teh-toh-KOON’-poh) has a minor knee sprain and will miss at least the Milwaukee Bucks’ next two games. The Bucks said Sunday that Antetokounmpo had an MRI and was examined by team doctor William Raasch. The evaluation showed a minor joint capsule sprain of Antetokounmpo’s left knee after a hard fall late in a 113-103 loss to the Los Angeles Lakers on Friday night. He remained in the game but appeared to be limping as he walked off the court afterward. Antetokounmpo ranks third in the NBA in scoring with 29.6 points per game and fourth in rebounding with 13.7. He also averages 5.8 assists.— Jrue Holiday just missed his second triple-double against Minnesota in less than a week, putting up a season-high 37 points and adding nine rebounds and eight assists for New Orleans. The Pelicans beat the Timberwolves 120-107. Zion Williamson scored 23 points on 9-for-15 shooting, and Lonzo Ball had 18 points and eight assists to help the Pelicans start a four-game road trip on the right note. The Pelicans passed Portland for 10th place in the Western Conference and pulled back within four games of eighth-place Memphis. Sacramento is in ninth place. Malik Beasley had 21 points and nine rebounds for the Timberwolves. Patrick Marleau and Evgeni Malkin scored for Pittsburgh and Tristan Jarry finished with 30 saves but the listless Penguins capped a miserable weekend at home by losing for the second time in 24 hours to teams they’re scrapping with for positioning in the crowded Metropolitan Division.NHL-COYOTES-GARLAND INJUREDCoyotes’ Garland week to week with lower-body injuryGLENDALE, Ariz. (AP) — Arizona Coyotes leading scorer Conor Garland has left the team after he suffered a lower-body injury against Calgary.The Coyotes said Sunday that Garland has returned to Arizona while the team continues its trip through western Canada. He is listed as week to week. Share This StoryFacebookTwitteremailPrintLinkedinRedditT25 MEN’S BASKETBALL-SCHEDULENo. 9 Maryland tops No. 25 Michigan 83-70UNDATED (AP) — Anthony Cowan Jr. had 20 points and eight assists in his final home game at Maryland, and the ninth-ranked Terrapins beat No. 25 Michigan 83-70 to earn a share of the Big Ten regular-season title. Japan’s Spring Grand Sumo Tournament started Sunday without spectators, and with wrestlers arriving in face masks. One of Italian soccer’s biggest games was being played Sunday in an empty stadium. The Alpine skiing World Cup Finals, Italian cycling races and the women’s ice hockey world championships have all been canceled. Associated Press NHL-HURRICANES-PENGUINSHurricanes hammer listless Penguins 6-2PITTSBURGH (AP) — Morgan Geekie scored twice and added an assist in his NHL debut and Justin Williams added two third-period goals and the Carolina Hurricanes surged past the Pittsburgh Penguins 6-2 on Sunday.Jake Gardiner added a goal and an assist and Jaccob Slavin also scored for the Hurricanes, who pulled into a tie with Columbus and the New York Islanders for the two wild-card spots in the Eastern Conference. Columbus plays in Vancouver on Sunday night.Alex Nedeljkovic (nuh-DEHL’-koh-vihch) stopped 28 shots to earn the second win of his career for Carolina.center_img UNDATED (AP) — — Texas Rangers outfielder Willie Calhoun was hit in the mouth by a fastball Sunday and taken to a hospital. The left-handed hitting Calhoun crumbled after being struck in the jaw by a fastball from Los Angeles Dodgers left-hander Julio Urias in the first inning of a spring training game. Calhoun fell on his back, put his hands over his face and was eventually carried off on a cart. The Rangers said he was taken to a hospital. A fourth-round pick by the Dodgers in 2015, Calhoun was acquired by Texas in a trade for Yu Darvish in 2017 and established himself in the Rangers’ lineup last year.In other MLB news:— The Baltimore Orioles claimed right-handed pitcher Hector Velazquez on waivers from the Boston Red Sox on Sunday. The 31-year-old was 11-7 with a 3.90 ERA in 89 games in the last three seasons with Boston, including 19 starts. Velazquez will compete for a spot on the Orioles’ staff. One candidate, right-hander Evan Phillips, will begin the season on the injured list due to right elbow soreness.— New York Yankees catcher Gary Sanchez says his sore back is improving, but he’s still out of the lineup. Sanchez didn’t take batting practice Saturday or Sunday. He isn’t on the travel roster for Monday’s road game against the Philadelphia Phillies in Clearwater.— Houston Astros ace Justin Verlander felt soreness in his triceps and made an early exit from an exhibition start Sunday, and the AL Cy Young Award winner was headed for more tests. Verlander was set to pitch four innings against the New York Mets. But with his velocity down from his previous start, Verlander was pulled after two scoreless innings. The 37-year-old Verlander was slowed by a groin injury earlier in spring training. Verlander was dominant last year, going 21-6 for the Astros and leading the majors in wins. He also pitched the most innings in baseball and struck out a career-high 300. Garland was injured in Friday’s 3-2 loss when he collided with Flames goalie Cam Talbot.The 23-year-old right wing leads the Coyotes with 22 goals and is third with 39 points in 68 games. He had 13 goals and five assists in 47 games as a rookie last season.Garland’s injury is a big blow to the Coyotes as they fight for their first playoff appearance since reaching the 2012 Western Conference Final. Arizona has 74 points through Saturday’s games, two behind the final Western Conference playoff spot. The Coyotes play at Winnipeg on Monday.MLB-NEWSRangers’ Calhoun hit in mouth by fastball, taken to hospital VIRUS OUTBREAK-SPORTSBahrain Grand Prix, world soccer among events hit by virusSAKHIR, Bahrain (AP) — Formula One’s Bahrain Grand Prix on March 22 has been closed to spectators due to the global virus outbreak, but it won’t be postponed like the Chinese round of the championship.The F1 season is set to begin with the Australian Grand Prix in Melbourne on March 15. China was scheduled to hold the fourth race of the season on April 19, but that was postponed due to the virus outbreak and no new date has been set.The Bahraini organizers’ decision comes as the wider sporting world battles turmoil caused by the new coronavirus. Soccer, golf, skiing, marathons and Olympic qualifying tournaments have all been disrupted. Update on the latest sports March 8, 2020last_img read more

D’Abbraccio: Hack reflects on storytelling passion, early influences that cultivated it

first_img Published on April 27, 2015 at 10:14 pm Facebook Twitter Google+ My homework was pushed aside once my grandfather entered my room.He’d go to the bookshelf, pick up “The Yankees: An Illustrated History” and revive his 70-plus years of baseball memories as he flipped through the pages. He had witnessed all the New York Yankees legends I could only dream of being in the same ballpark as.An 80-year-old man reminiscing about old times, and his 9-year-old grandson longing like hell to be a part of them.Storytelling in its purest form.We’re all storytellers in some capacity. Some better than others, naturally, but we all do it. Some of us, like me and my colleagues at The Daily Orange, desire to make a living out of it. And whether I’m ready for it or not, this unforgettable chapter of my story is over in about 500 words.AdvertisementThis is placeholder textThe seeds of this dream of mine were planted in the mornings I’d soak in Newsday’s sports section, forcing my mom to cut me off because the bus was coming in five minutes and I hadn’t brushed my teeth yet. I’d also rack up extra credit in gym class by cutting sports photos out of the paper and thumbtacking them to a corkboard before homeroom.My sports writing truly started, I suppose, in the form of the Post-it notes I used to leave for my dad to read in the morning. He missed plenty of thrilling Yankees comeback victories because he’d gone to bed.Why let the newspaper or someone at work tell him about it first?Fast forward to my tenure at The Daily Orange, where one of the first things I learned was the purpose that anecdotes served in a story. From there I grew an appreciation for telling those stories: the influence of the late Robert “Apache” Paschall on the Syracuse women’s basketball program; Nicky Galasso making his late mother proud on the lacrosse field; Why Marc Kuzio goes all-out in Orange apparel for his niece’s SU field hockey games.Stories are valuable — probably to an underrated extent. They’re how memories of nights are pieced back together when drinks blur them up. They define friendships. They’re how I know Grandpa D’Abbraccio, even though he’s been gone for 20 years.I cherish the chance journalism gives me to bring out what people have been through, what inspires them and what makes them who they are.This year, I was fortunate enough to have that chance on the highest level for The D.O. And in the process of covering the football and men’s basketball teams and rising to this esteemed position of sports editor, I was surrounded by people who helped make this 420-byline journey memorable and the furthest thing from “work” I could’ve ever imagined.We kicked back some Budweisers in a grass parking lot in Clemson before an incredible Smokin’ Pig dinner. My seat at Cameron Indoor Stadium was close enough to smell the players. Flanked by beat partners Jesse Dougherty and Jacob Klinger, we covered Jim Boeheim during one of his most eventful seasons ever — classic postgame rants and all.I never want to see the endless asphalt of Interstate-81 again and I can do without the Carrier Dome’s subpar Italian food.But sh*t, that was fun.And now, the end is near. And so I face the final curtain.We all know what the future of the journalism industry looks like. Who knows where I’ll end up or whose stories I’ll be striving to tell.But if one day my grandson wants to hear some stories, I think I’ll have some pretty good ones to share.And I’ll make sure he gets his homework done, too.Phil D’Abbraccio is the sports editor at The Daily Orange, where his column will no longer appear. He can be reached at phildabbraccio@gmail.com or on Twitter at @PhilDAbb.-30- Commentslast_img read more

Maple Leafs’ Zach Hyman tears ACL, will undergo surgery

first_imgThe @MapleLeafs announced today that forward Zach Hyman will undergo surgery Monday, April 29 to repair a torn Anterior Cruciate Ligament (ACL) sustained during the team’s first round playoff series against Boston. He is expected to miss a minimum of six months.— Leafs PR (@LeafsPR) April 25, 2019The announcement comes as a surprise, given Hyman played throughout the series. It’s unclear when he sustained the injury, but he wasn’t at the team’s morning skate before Game 7 on Tuesday night.Hyman, 26, set career highs in goals (21) and points (41) this season in 71 games. However, he was quiet during the team’s first-round series, scoring just one goal. Now it appears the injury could have been the culprit behind his subdued performance. Related News NHL playoffs 2019: 3 takeaways from Hurricanes’ dramatic Game 7 double-OT win over Capitals Maple Leafs forward Zach Hyman will have surgery Monday after the team announced he tore his ACL during Toronto’s playoff series against the Bruins.According to the team, he’s expected to be out at least six months.center_img Toronto was ousted out of the playoffs by Boston when the Bruins took Game 7, 5-1.last_img read more

Spurs rally to beat Knicks, spoil RJ Barrett’s debut

first_imgFILE – Dejounte Murray #5 of the San Antonio Spurs pushes the ball downcourt against the New York Knicks at AT&T Center on October 23 , 2019 in San Antonio, Texas. Ronald Cortes/Getty Images/AFPSAN ANTONIO— The lessons are coming early for New York Knicks rookie RJ Barrett. From his first NBA game?“You’ve got to keep going, especially if you get up,” he said.ADVERTISEMENT Patrick Beverley fined $25K by NBA for throwing ball into stands MOST READ The Knicks have pinned a great deal of hope on Barrett, the No. 3 overall draft pick out of Duke, after failing to sign any marquee free agents in the offseason.“I told you,” New York coach David Fizdale said. “When the popcorn’s popping, that kid is ready.”Marcus Morris led New York with 26 points, and Julius Randle added 25 points and 11 rebounds.The Spurs are similarly counting on Murray, who played in his first game since tearing his right ACL in a preseason game last October.“I’m blessed, I’m thankful,” Murray said. “I put in the work, but I’ve got a lot of work to do. A year ago today I was at home, I couldn’t walk, and a year later I’m playing. So, I’m thankful.”ADVERTISEMENT DTI creates Marahuyo, a luxe Filipino fashion brand for global buyers Someone from the Philippines could win a $208 million jackpot this week! Murray had 18 points, including a 3-pointer with five minutes remaining that put San Antonio up 105-97. The 6-foot-5 point guard had six assists and eight rebounds.“I thought he was aggressive, tried to do what we wanted to do and played pretty good defense,” Spurs coach Gregg Popovich said. “Probably needs to take care of the ball a little bit better, but overall after being out so long, he’s come a long way pretty quickly.”Murray had four turnovers and San Antonio committed 21 as a team, which led to 32 points for New York. The Spurs did not have any turnovers in the fourth quarter, however.NOTHING SETTLEDNew York started Barrett, Randle, Morris, Bobby Portis and Alonzo Trier, but Fizdale said the lineup could change as soon as Saturday against Washington, especially at point guard.Barrett started at point guard, but veteran Elfrid Payton had nine points and four assists in the second half while running the point with Barrett at off guard.TIP-INSKnicks: Morris, who signed with the Knicks after backing out of a verbal agreement with the Spurs on a two-year deal, was heavily booed throughout the game. Morris responded to the initial boos by backing down and then hitting a turnaround jumper on DeMar DeRozan for the game’s opening points. … The Knicks signed F Ivan Rabb to a two-way contract. The 6-foot-10, 220-pounder averaged 5.7 points, 4.3 rebounds and 1.0 assists in 14.6 minutes over two seasons with the Memphis Grizzlies. He will primarily play for New York’s G League affiliate, the Westchester Knicks.Spurs: Trey Lyles, who the Spurs signed after Morris reneged, started at center and had eight points and 11 rebounds. … Popovich opened his 24th season as San Antonio’s coach, setting the record for most seasons coaching one franchise. Popovich was previously tied with Utah’s Jerry Sloan. … Popovich acknowledged the Spurs fully guaranteed the final year of Aldridge’s contract. Aldridge was guaranteed $7 million for 2021 before the Spurs picked up their option Wednesday to fully guarantee his $24 million contract. … Popovich, Larry Brown, Hubie Brown and Bill Bertka are the only coaches to serve as an NBA head coach in their 70s in league history. Popovich turned 70 on Jan. 28.UP NEXT Knicks: Host Washington on Saturday night.Spurs: At Brooklyn on Friday night.Sports Related Videospowered by AdSparcRead Next LATEST STORIES This jewelry designer is also an architect View comments Matteo Guidicelli had saved up for Sarah G’s ring since 2014? It’s a concept Spurs point guard Dejounte Murray knows well.LaMarcus Aldridge had 22 points, Bryn Forbes added 20 and San Antonio rallied for a 120-111 victory over the Knicks on Wednesday night, spoiling Barrett’s debut.FEATURED STORIESSPORTSGreatest ever?SPORTSFormer PBA import Anthony Grundy passes away at 40SPORTSSan Miguel suspends Santos, Nabong, Tubid indefinitely after ‘tussle’ in practiceThe Spurs outscored the Knicks 37-27 in the final quarter after Barrett rallied New York from a 16-point deficit in the first half. Barrett scored 21 points on 9-for-13 shooting with five rebounds and two assists in 37 minutes.“You’ve got to keep putting it on them,” Barrett said. “Just like we’re not going to quit, they’re not going to quit either.” Becoming his own man Canadian vaping study details danger from ‘popcorn lung’ chemical Duterte calls himself, Go, Cayetano ‘the brightest stars’ in PH politics Don’t miss out on the latest news and information. Sports venues to be ready in time for SEA Games PLAY LIST 00:59Sports venues to be ready in time for SEA Games01:27Filipino athletes get grand send-off ahead of SEA Games00:50Trending Articles02:11Makabayan bloc defends protesting workers, tells Año to ‘shut up’03:07PH billiards team upbeat about gold medal chances in SEA Games01:38‘Bato’ to be ‘most effective’ CHR head? It’s for public to decide – Gascon02:07Aquino to Filipinos: Stand up vs abuses before you suffer De Lima’s ordeal01:28Ex-President Noynoy Aquino admits contracting pneumonia00:45Aquino agrees with Drilon on SEA games ‘kaldero’ spending issue Ethel Booba on SEA Games cauldron: ‘Sulit kung corrupt ang panggatong’last_img read more