Three of the UK’s leading insurers have lobbied government to block the International Accounting Standards Board’s (IASB) new insurance standard, IFRS 17.According to documents released to IPE under the Freedom of Information Act, Aviva, Legal & General (L&G) and Prudential described the new IFRS as “the answer to the question nobody has asked”.In a letter dated 14 July and addressed to the Chancellor of the Exchequer, Philip Hammond, the trio warned the standard would cost “billions” to implement and “add risk to the UK during Brexit”.The IASB hoped IFRS 17 would enhance financial stability by forcing insurers to apply a common global accounting model for their liabilities at a time when they face growing pressure from record-low interest rates. In the case of UK insurers such as Aviva, L&G and Prudential, their liabilities include those transferred from defined benefit schemes through buy-in or buyout transactions. IFRS currently lacks an insurance liability accounting model and effectively tells insurers to calculate their liabilities using local accounting rules. In their letter, the insurers called for local rules to be retained.News of the insurers’ lobbying comes as civil servants race to develop a new UK-only endorsement mechanism for the IASB’s standards after the UK quits the EU.Meanwhile, separate HM Treasury (HMT) minutes also showed that, in meetings with officials this summer, the insurers argued the new standard would cost as much as Solvency II to implement but for little tangible benefit. Legal & General’s team told Treasury officials IFRS 17 was likely to cost around £200m (€224m) to implement.Aviva said the “radical” proposal would need a “significant period of testing”. L&G said a year-long period of testing was likely required “to identify and iron out the problems”.The Treasury appeared to be taking the insurers’ concerns seriously. A record of a meeting on 15 August between HMT and Prudential noted that a Treasury official advised the Prudential that “the case against IFRS 17 would be strengthened if accompanied by a more detailed evidence base”.The comment is the strongest hint yet that Brexit could derail IFRS 17. The European Commission has yet to endorse the standard.In their 14 July letter to the Chancellor, the insurers wrote: “[T]he UK’s exit from the European Union has provided us with an opportunity to retain the existing rules which are appropriate for the UK insurance industry.”Another minute from HMT hinted that the IASB could fail in its decade-long effort to converge accounting for insurance liabilities, with none of the world’s major economies tipped to adopt IFRS 17.The minute said: “The US, China, Japan and many other countries were unlikely to adopt [it], therefore, UK companies, which would be saddled with the costs of implementation, would be at a competitive disadvantage.”The question mark over IFRS 17 parallels the concern among pensions experts over the impact of the IASB’s IFRIC 14 project.The IASB voted last month to pause the project, which could force defined benefit scheme sponsors to recognise massive additional balance-sheet liabilities.BEIS, the government department currently responsible for IFRS-related issues, has delayed the release of documents related to IFRIC 14, citing the public interest.Lane Clark & Peacock partner Tim Marklew told IPE that Brexit could mean regulators would step in and carve out the changes.He said: “I believe that were the IASB to get IFRIC 14 wrong and render it unworkable for UK companies.“I can see quite a bit of pressure on UK regulators after Brexit to sort the problem out and level what is starting to look like a very uneven playing field for UK companies.”
The average price Japanese buyers paid for spot LNG cargoes contracted in August rose for the third month in a row.The data released on Tuesday by the Ministry of Economy, Trade and Industry shows that the contracted spot LNG price rose 7 percent when compared to the previous month and 84.4 percent year-on-year.The average price of spot LNG cargoes delivered to Japan in August stood at $9.8/MMBtu, down 4.8 percent from July and a rise of 75 percent when compared to August 2017, METI data showed.Only spot LNG cargoes are taken into account in this assessments, excluding short, medium and long-term contract cargoes, as well as those linked to a particular price index. LNG World News Staff
Stuff co.nz 24 October 2017Family First Comment: Don’t get too excited. The last time Winston Peters asked MPs to give referendum to the people on a contentious issue (allowing a referendum on same-sex marriage) he lost 33 – 85. Politicians don’t like sharing the power.#democracy?The issue of whether to legalise voluntary euthanasia looks increasingly likely to go to a public vote after details of the Labour-NZ First coalition agreement were revealed.Contained in the agreement made public on Tuesday was a commitment to hold a conscience vote in Parliament when it came time to decide whether MPs or the general public should determine the fate of ACT leader David Seymour’s End of Life Choice bill.Seymour’s bill, which gives people with a terminal illness or a grievous and irremediable medical condition the option of requesting assisted dying, was drawn from the members’ ballot in June.NZ First has since put forward a Supplementary Order Paper that provides for a referendum on the issue.When MPs eventually meet to decide whether there should be a referendum, they will now be able to vote individually, rather than along party lines.Ken Orr, spokesman for anti-euthanasia group Right to Life, said the issue was too complex to be put to a public vote, and could lead to a “slippery slope” of assisted dying policies.“We don’t think it’s a matter that should be decided by individuals in the community,” he said.READ MORE: https://www.stuff.co.nz/national/health/euthanasia-debate/98192372/labournz-first-coalition-deal-increases-odds-of-voluntary-euthanasia-referendum
Share West Florida Cross Country with strong showing in Gainesville Sept. 7, 2007GAINESVILLE, Fla. – In an event that included some powerhouse Division I programs, The West Florida Cross Country teams performed very well on Friday. Coach Matt Dobson was really excited about the performances, “all of the guys (men’s team) ran faster than last week and many set PR’s for the run.” For the Women, Diana Sitar ran her fastest 5k yet, at 19:03 and was running right along with the top D-I runners.”I was real proud of Diana, and Margaret Harter and Kelli Midden turned in great runs also,” exclaimed Dobson. “Our girls were missing two of our top runners and still had an outstanding showing.” The Women finished second of all the D-II schools, trailing only the University of Tampa. UWF and Tampa are among the schools that are considered to have a shot at the national title.The Men’s squad was the top D-II school in the meet, due to Nick Maedel and Justin Gates turning in races of over a minute faster than previously. “Nick has been having some great workouts and ran a great race today. However, I might have been proudest of Justin Gates, who is a Junior and all his hard work has finally paid off.” Dobson continued to be proud of the fact that much of his team had been battling sickness, but it didn’t deter them today. “We are where we want to be right now, and I think have the formula (for training runs) that will work for this team.”Freshmen Nick Maedel was the top UWF men’s runner with a 27:08 for the 8k run, good for 25th overall. Junior Justin Gates (27:23) and Junior Eric Mayes (27:35) were right behind. Freshmen Reynolds Griner (28:09) and Freshmen Jared Black (28:12) rounded out the Argos top five runners. Meanwhile, two other Freshmen were not far behind them, as Josh McEachin (28:25) and Andrew Maedel (28:32), ran very well also.For the women, Senior Diana Sitar finished 14th overall, while Junior Margaret Harter (20:10) was 37th, and Freshmen Kelli Midden (20:27) was 41st overall out of 175 runners in the meet. Freshmen Ericka Anderson (21:17) and Senior Lindsey Failing (22:31) rounded out the Argos top five runners.The University of Florida was the overall team champion for both the men’s 8k run and the women’s 5k run. Enoch Nadler of Florida won the men’s race in 24:48, while Lindsay Sundell of the Gators was the women’s champion in the 5k with a time of 17:41. The Argos will compete again next week in the Commodore Classic in Nashville, Tennessee. That race will also have a mix of Division I and Division II schools, and provides some great competition for the Argos. Print Friendly Version
“I think Sean is right up there in that world class, right up there with those two in the next two weeks but I think all the boys across our back row have great quality. “If they stick together and stay tight, believe in each other, then they will be okay. “If even one person doesn’t believe in themselves, or what we’re trying to achieve, then we’ve got a passenger. “I’m just looking forward to seeing these boys playing against this Australian side, so they can measure themselves and I’m sure that’s going to happen.” Plumtree knows any defensive line dog-legs will be impossible for Australia’s livewire pivot Quade Cooper to resist. Calling on Ireland to shut half-backs Cooper and Will Genia down, he continued: “You’ve certainly got to work together to combat Cooper. “He looks for opportunities against individuals that push out of the line, he likes really fast ball. “So we’ve got to try to deny him that, but defensively he can be a real handful with his partnership with Genia, they’ve got a real understanding of each other’s play. “That’s been a big focus this week, but I guess Quade’s used to hearing that. “He’s got a bag of tricks that needs to be looked after and when he’s playing with confidence and front-foot ball he can be a real handful.” Plumtree believes Ireland back-rower O’Brien sits comfortably alongside renowned Australia seven Hooper and All Blacks captain McCaw. But he has warned the rest of Ireland’s pack that equal status does not mean O’Brien can handle those big threats by himself. Ireland’s “world class” openside flanker Sean O’Brien must not be left to combat Michael Hooper and Richie McCaw alone in the next fortnight, according to forwards coach John Plumtree. Ireland host Australia in Dublin on Saturday where they will bid to build on their 40-9 opening autumn international victory over Samoa. Wallabies’ flanker Hooper will be desperate to disrupt Ireland’s rhythm this weekend, while McCaw will aim to do likewise a week later. As a result, Plumtree has challenged Ireland’s entire pack to stop the two standout stars from shining at the breakdown. He explained: “It’s not all about one person, that’s for sure. “Sean’s going to need help and support in that area, and it’s up to the rest of the pack as a start to make sure they do support him. “If he’s carrying the ball really well we’re going to need our cleaners in there quickly, and if he does get his hands on the ball in defence, we’re going to need to support him in there as well in terms of stealing ball. “So it’s really not all about one person, and it’s unfair to put a lot of pressure on Sean O’Brien to be competing with Richie McCaw, Hooper or whoever else. “It’s a team game, and certainly from a pack perspective it’s important that our pack works closely together, whether that’s scrum, line-out, carrying ball or defending. It’s got to be a team thing. Press Association
For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: Jasprit Bumrah and Bhuvneshwar Kumar, who were not part of the Indian team for the first two ODIs, have been included in the squad for the final three ODIs against the West Indies.The BCCI announced the squad on their official Twitter handle (@BCCI). Mohammed Shami has been left out of the side. After winning in Guwahati, the Vizag ODI was tied and heading into the last three games, India lead the five-match series 1-0.Read More | Diwali Offer: Top five smartphones to look out for this festive seasonPune will host the third ODI on October 27, followed by an ODI at the Brabourne stadium in Mumbai on November 2. The final match will be played at Thiruvananthapuram which will then be followed by three Twenty20 Internationals.Both Bumrah and Bhuvneshwar were rested in the Guwahati and Vizag games and the Indian bowling lacked a bit of teeth in the death overs. While Shimron Hetmyer took the Indian bowling to the cleaners with a magnificent century in Guwahati, in Vizag, Umesh Yadav struggled to defend 14 runs.Read More |Justin Timberlake’s vocal cords ‘severely bruised’; postpones MSG gigThe inclusion of Bumrah and Bhuvneshwar at this stage of the series will be ideal preparation for the Australia series which will begin on November 21 with three Twenty20 Internationals, followed by four Tests and three ODIs.India squad for remaining ODIs vs West IndiesVirat Kohli (c), Rohit Sharma (vc), Shikhar Dhawan, Ambati Rayudu, Rishabh Pant, MS Dhoni (wk), Ravindra Jadeja, Kuldeep Yadav, Yuzvendra Chahal, Bhuvneshwar Kumar, Jasprit Bumrah, Khaleel Ahmed, Umesh Yadav, KL Rahul, Manish Pandey
Rajasthan started the run-chase in a rather jittery manner as even they lost three early wickets in Ajinkya Rahane (0), Jos Buttler (6) and Sanju Samson, the centurion from the last game for eight. Rahul Tripathi and Steve Smith put their heads down and stitched together a useful stand of 61 runs in 41 balls. Just when it seemed Rajasthan Royals were on course, Imran Tahir removed Tripathi after the batsman racked up 39 runs from 24 deliveries.Steve Smith’s struggles ended when he was dismissed for 28 off 30 balls. Ben Stokes took charge and played some decent strokes to keep the Royals in the hunt. However, with Rajasthan Royals needing 12 off the last over, Chennai Super Kings got rid Stokes with Dwayne Bravo dismissing him for 46. Jofra Archer kept Rajasthan Royals in the hunt but Bravo held his nerve to give Chennai Super Kings their third straight win in IPL 2019.Rajasthan Royals will take on Royal Challengers Bangalore at the Sawai Mansingh stadium while Chennai Super Kings will take on Mumbai Indians in their next encounter. Rajasthan Royals lost their third game on the trot. Chennai Super Kings won the third game. MS Dhoni was awarded the man-of-the-match for his knock of 75. For all the Latest Sports News News, Indian Premier League News, Download News Nation Android and iOS Mobile Apps. highlights New Delhi: MS Dhoni’s blazing 75, including three sixes in the final over bowled by Jaydev Unadkat and some calm bowling from Chennai Super Kings’ bowlers in the face of a late assault from Ben Stokes (46) gave the defending champions their third straight win in IPL 2019 with a narrow eight-run win against Rajasthan Royals at the MA Chidambaram stadium on Sunday. Dhoni’a late onslaught made the difference after he helped Chennai Super Kings recover from a precarious position and it highlighted yet another dimension to his batting On a slowish Chennai wicket, Rajasthan Royals’ inserted Chennai Super Kings in and the way the innings proceeded for Chennai Super Kings, it looked that Ajinkya Rahane had made the right decision. Rajasthan Royals dented their top-order easily,with Jofra Archer getting rid of Ambati Rayudu after which Ben Stokes accounted for the prized wicket of Shane Watson. Jaydev Unadkat joined in the fun by dismissing Kedar Jadhav, who hit two fours before getting dismissed. However, in a tough situation, tough men stand up and for Chennai Super Kings, MS Dhoni and Suresh Raina did that.Both batsmen took their time and it was Raina who changed the momentum of the match by smashing two boundaries off Shreyas Gopal and Krishnappa Gowtham. The left-hander was in the zone and he found the boundaries at regular intervals. Just when Chennai Super Kings were beginning to make a revival with a 61-run stand for the fourth wicket, Unadkat bowled Raina for a 32-ball 36.However, the partnership had given Chennai Super Kings the platform for a final flourish and Dhoni found good company in Dwayne Bravo. The former West Indies all-rounder blasted two boundaries off Ben Stokes and the carnage for Rajasthan Royals began in the 18th over. Dhoni smashed a six off Dhawal Kulkarni’s no-ball and Bravo ended the over in grand style by hammering a six and a four. Dhoni notched his half-century in 39 balls but Jofra Archer claimed the wicket of Bravo for 27 off 16 balls. The last over changed the entire complexion of the game with Dhoni slamming three sixes and remaining not out on 75 runs from 46 balls as Unadkat’s final over leaked 28 runs and Chennai Super Kings ended on 175/5.
THE 2017 edition of the COURTS Pee Wee football competition kicked off yesterday at Thirst Park with big wins for several teams.The first two games of the day saw a disqualification for St Margaret’s Primary who fielded an ineligible player which meant that their opponents, Supply Primary got the win.In the other game, Sophia were in fine form as they trounced Winfer Garden 8-0. Ronaldo Wilson scored four goals in the 3rd, 12th, 15th and 22nd, while one goal each came from Shem Howard (11th), David Weeks (28th) and an own goal.St Agnes was able to needle Grove Primary 1-0 thanks to Isaiah Chester in the 14th,, while Mocha Primary and South Ruimveldt played to a one goal stalemate, thanks to Jiheam Lewis and Trayvon Bess, respectively.Victoria Primary got the better of School of the Nations 3-1 with Emanuel George doubling up in the 28th and 30th, while Desmond Clarke opened the scoring in the 13th. Nations had Jared Ghaneshindin register their only goal in the 11th.St Ambrose Primary were also in fine form as they routed Colaaco Primary 8-0 with four goals from Jacob Rodney (3rd, 6th, 16th and 22nd) and a brace from Rovin Henry (4th, 30th).Commercial Manger of COURTS Guyana Inc., Joel Persico kicks off the 2017 Pee Wee Football TournamentD’Andre Anderson and an own goal accounted for the eight scored in the game.Keilshon Humphrey was the star in Den Amstel Primary’s 3-0 win over Smith Memorial, scoring a hat- trick with strikes in the 11th, 21st and 26th.Enterprise Primary and West Ruimveldt played to a goalless stalemate, while Tucville advantaged Soesdyke Primary 6-0. Braces from Emmanuel Tinch (4th, 23rd) and Carl Negus (6th, 20th) ensured that the side had no problem in securing the win, as Ryan Greene (2nd) and John Harry (5th) drove the nails into the coffin.St Angela’s and Marian Academy played to a goalless stalemate with Redeemer overcoming North Georgetown 2-0, thanks to a double from Nicholas Watts (18th, 22nd).St. Stephens had Joshua Leitch save the day in their 1-0 win against Timheri Primary, while St Pius thrashed F.E Pollard 6-0, thanks to a hat trick from Dwayne Baptiste (2nd, 25th and 26th), a brace from Kaven Wellington (21st and 24th) and a single from Manassel Anderson (3rd).Yesterday morning’s session featured a march past with the kickoff being done by Commercial Manger of COURTS Guyana Inc., Joel Persico.
I have a friend who used to pull the same trick whenever he was entertaining select groups of girls we’ll just call the “varsity squads.”It wasn’t exactly that creative or ingenious, but it was effective and always worked without fail.He took an empty Level Vodka bottle he splurged on months — maybe even years — before and just re-filled it with Siberian Ice, Fleischmann’s or whatever our normal, crappy vodka of choice was that week.He passed it off as Level to the girls, and they just drank it up. They loved the stuff.They’d come in wearing heels and too much makeup and always — always — say something along the lines of, “Oh my god! I love Level. I just can’t stand that piss water people usually have, like Fleischman’s. … My place or yours?”So, what exactly does this have to do with the 2006 University of Wisconsin football team?Well, the Wisconsin schedule-makers have been filling their Level stadium and pitting their Level football teams against the college football equivalent of Siberian Ice and Fleischmann’s for years.And, just like the frat boy vodka swap, the end result always appears to be much better than it actually is.Now before I delve any deeper, let me just emphasize that I in no way intend to take away from what this 2006 Badger squad accomplished.A 12-1 record is no joke. Following the examples of Joe Thomas, Mark Zalewski and the rest of the veteran leadership, this young team that nobody expected anything from stepped up. They played hard week in and week out, earning each and every victory.The season’s culminating win against Arkansas in the bowl-formerly-known-as-the Citrus Bowl was a fitting end for this team: An ugly game won on pure grit and determination.I just wish the UW Athletic Department gave them a better opportunity to show off what they were capable of during the regular season.This is a team that flew under the radar for most of the year, if only because while Ohio State was playing Texas, and Michigan was duking it out with Touchdown Jesus (Notre Dame), Wisconsin faced the dregs of college football.The Badgers’ non-conference opponents went a combined 14-33 this season, and not one — not even the I-AA powerhouse that is Western Illinois — finished with a winning record.Bowling Green? San Diego State? Buffalo?When you’re fighting for respect, you don’t do it by playing the J.V. and freshman squads — you go after the varsity.Now, to be fair, it would not have actually made a lick of difference if Wisconsin played Western Illinois or USC or even Florida Sept. 9.Whether they won or lost, the Badgers still would have ended up in third place in the Big Ten and playing the Razorbacks in the Capital One bowl for half the $9.5 million payout. The Badgers had no shot at a BCS game because they lost to Michigan and finished behind both them and Ohio State in the BCS standings. The six major conferences can only send a maximum of two representatives to those bowls.But what UW would have earned by playing a higher profile team that weekend is the national spotlight and a shot at the respect they were searching for all season.I honestly don’t see a downside to scheduling one tough out-of-conference opponent every year.It gets the fans excited, the recruits watching and the respect from poll voters.If they lose? So what. With most of the Big Ten stuck in a down cycle, Wisconsin beats up on Illinois and Indiana and plays in either the Capital One or Outback Bowl.And if they win? The senile ex-coaches and meathead ex-jocks on Disney’s stepchild station will blow a gasket hyping up our team, and you can bet your varsity squads they’re on the path to the BCS and a piece of the $17 million payouts.I just don’t understand what Wisconsin’s schedule makers are so afraid of. Why not do like Frank the Tank and do one every year?Ultimately, the people who lose the most are the players. They deserve a shot to go against the best and showcase their skills on the national stage.If the last two bowl games proved anything, it’s that the Badgers can play with the big dogs. So, schedule a real game instead of putting your tail between your legs and running away to Bowling Green.Between now and this time in 2009, Ohio State will have gone up against USC, Michigan State against Cal, and Penn State and Michigan will have continued their rivalry series with Notre Dame.The best teams UW is scheduled to play during that time are Washington State and Fresno State.But there are still some open dates left.I’m tired of people treating Wisconsin like the Fleischmann’s in the Level bottle. If the Badgers are better than that, UW should go ahead and prove it.Andriy is the news editor of The Badger Herald and is a senior majoring in journalism and mass communications. Any questions or comments can be sent to firstname.lastname@example.org.
Though the Buffaloes are winless in Pac-12 play, USC coach Lane Kiffin has told the team not to overlook its opponent.“Colorado has played well at home and have done that for years,” Kiffin said. “[Its] blowouts, with the exception of Oregon, have been on the road.”With the possibility of snow and inclement weather during the game, the Trojans aim to not let the forecast affect their mindset as they head into Friday’s game.“Everyone will probably be in long sleeves but besides that, you can’t think about it,” junior defensive end Devon Kennard said. “If you don’t make it a factor, it won’t be a factor.”Coming off a loss, junior quarterback Matt Barkley said USC should be ready.“I think it will be an opportunity for us to dominate rather than just coast through,” Barkley said.—After a standout game against Stanford, junior tailback Curtis McNeal is looking for a repeat performance against Colorado. McNeal admitted his fumble in the third overtime offset his strong play earlier in Saturday’s game.“It took a lot away from me,“ McNeal said. “It just really hit me hard because we played our hearts out in that game.”Barkley said he has told McNeal to remain positive and focus on the game ahead.“I know what’s going through his head,” Barkley said. “Right now, he is the best back we have and I have told him that [he] can’t pin [the loss] on [himself].”—Kiffin noted the team’s improvement of the defense and the team as a whole since the beginning of the season, especially in its last two contests against Notre Dame and Stanford. The Irish were limited to just 41 rushing yards and 2.9 yards per carry. The Cardinal, meanwhile, was limited to 3.9 yards per carry after coming in to the game averaging over five yards per carry. Though Stanford put up 56 points, the Trojans managed to sack Stanford quarterback Andrew Luck twice and sophomore Nickell Robey picked off the top Heisman candidate for a touchdown late in the fourth quarter.“I think the impact of Nickell [Robey] playing well has been a big part of our improvement on defense,” Kiffin said. “He’s playing at a really high level, which is great to see from a kid that is only a true sophomore.”—Injuries have increased for the Trojans in recent weeks. Kiffin announced redshirt junior defensive end Wes Horton, redshirt sophomore cornerback Torin Harris, redshirt freshman linebacker Dion Bailey, freshman tailback George Farmer, senior tailback Marc Tyler and senior fullback Rhett Ellison did not practice.Junior safety Jawanza Starling was limited in practice. Kiffin does not believe that Tyler will play on Friday.—Kiffin announced that redshirt junior safety Drew McAllister will be starting in place of junior safety T.J. McDonald during the first half against Colorado. McDonald is serving a first-half suspension after incurring a penalty for unnecessary roughness in last week’s game.“[McAllister] has practiced really well and has more interceptions than anyone else in our practices,” Kiffin said. “It will be a great opportunity for him to step up.”McDonald was penalized for targeting for the fourth time this season, with three coming against Arizona State in late September.“I accept the penalty and I apologize to my team, Stanford’s team and to our fans,” McDonald said. “I’m going to figure out a way for this to not happen in the future.”McDonald said he believes his first-half suspension is fair because he has been penalized before for harsh hits.Kiffin was also fined $10,000 after publicly criticizing the officiating after Saturday’s game.“I am sorry that all this happened and I have learned from this,“ Kiffin said. “Regardless of questions, I can’t answer anything that has to do with a call during a game or any conversation that an official has with me.” No. 21 USC looks to rebound from a triple-overtime loss to Stanford as it prepares to travel to Boulder, Colo., to face Colorado, marking the teams’ first meeting since 2002. It also marks the first meeting between the two schools since the formation of the Pac-12.Down and out · Senior tailback Marc Tyler was sidelined for most of Saturday night’s game against Stanford because of a shoulder injury. USC coach Lane Kiffin announced Tuesday that Tyler will likely miss Friday’s game at Colorado. – Carlo Acenas | Daily Trojan