Top names make big cutbacks on office space needs in Guildford

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

Wolf Administration Announces More Than $8 Million in Funding to Support Water and Sewer Projects in 22 Counties

first_imgWolf Administration Announces More Than $8 Million in Funding to Support Water and Sewer Projects in 22 Counties August 19, 2020 SHARE Email Facebook Twittercenter_img Economy, Infrastructure, Press Release Governor Tom Wolf announced the approval of more than $8 million in funding to support H2O PA Flood Control, High Hazard Dams, and Water, Sanitary Sewer, and Stormwater projects through the Commonwealth Financing Authority (CFA).“Investments in our water and sewer systems preserve Pennsylvania’s infrastructure and the health of our communities,” said Gov. Wolf. “My administration is committed to the health and safety of residents in all corners of the commonwealth, and the funding approved yesterday will benefit communities for years to come.”The H2O PA program provides for single-year and multi-year grants for the construction of drinking water, sanitary sewer and storm sewer projects; the construction or renovation of flood control projects; and the repair or rehabilitation of high-hazard unsafe dams.The H2O PA projects approved during the CFA meeting are:Flood ControlThe Turtle Creek maintenance project in Allegheny County was approved for $100,000 to remove sediment and clear vegetation on the bank of Turtle Creek. This project will restore the design level of flood protection and safeguard the lives and property of Turtle Creek Watershed residents.The City of Dubois Sandy Lick Creek Stream rehabilitation project in Clearfield County was approved for $710,000 to restore the streambank, remove the gravel bar and for engineering.The Borough of Clarks Summit Watershed Flood Control and Protection project in Lackawanna County was approved for $200,000 to implement Urban Stream Restoration, re-constrict the streambed, reinforce portions of the streambed with rock armoring and natural vegetation, and construct stone weirs and natural pools. This project will also reestablish the hydraulic cross-section and alignment of this corridor.The Rice Township Ice Ponds Dam project in Luzerne County was approved for $508,833 to dewater the lake per Pennsylvania Fish and Boat Commission specifications, install a watertight cofferdam, dewater the remaining lake between the cofferdam and the spillway, bore a 24-inch diameter hole through the bottom of the dam, install a metal sleeve and a valve gate, pass all engineering and Department of Environmental Protection inspections, refill the lake, leave the cofferdam in place, clear the spillway and achieve certification that the dam is compliant with Pennsylvania law.The Dupont Borough Phase II Flood Mitigation Control Rehabilitation project in Luzerne County was approved for $507,926 to repair concrete joints, repair sections in need, and for maintenance to prevent lifting of concrete sections, water eroding underneath the concrete slabs, deteriorating concrete on the wave reduction walls, failing gaskets, and missing grout in joints. The funds will be used to support construction, engineering and permitting.The total funding for these projects is just over $2 million.High Hazard DamsThe City of Reading Egleman’s Lower Dam Modification project in Berks County was approved for $350,000 to lower the elevation of the dam by four feet and raise the bottom of the pond by four to five feet, to create a water depth of three to four feet, which is the depth necessary for growing bass. The principal spillway will also be modified to regulate the average water level. The overall water surface area of the pond will be reduced by 25 percent. The modifications are aimed at reducing the dam hazard classification from high hazard to low hazard.Water, Sewer, and StormThe 47 approved projects include stormwater and sewer line upgrades, wastewater treatment plant upgrades, street stormwater improvements, sanitary sewer line replacements and more across 22 counties throughout the commonwealth.A complete list of H2O projects is available.For more information about DCED and the CFA, visit dced.pa.gov.Ver esta página en español.last_img read more

Dutch fund drops PGGM over desire to control manager appointments

first_imgThe assets of Particuliere Beveiliging have quickly increased, from €482m in 2009 to €1.1bn at present.“Given our larger scale and our increased professionalism, we wanted to have the option of more than a one-stop shop,” said Kestens.According to the chairman, costs have not played a crucial role in the scheme’s decision to leave PGGM for BMO.“Costs will strongly depend on the chosen managers, the preferred investment style and the services we would buy.”Kestens made clear that the pension fund was not considering a change of investment policy.He said that the scheme illiquid investments, including its infrastructure holdings, would remain with PGGM “as long as it was necessary and useful”.He added that Syntrus Achmea Real Estate & Finance would remain the manager of its 5% investments in mortgages and property.The scheme said the switch-over to BMO was the result of an evaluation of fiduciary management in 2015 as well as a tender. The €1.1bn sector scheme for the Dutch security industry, Particuliere Beveiliging, has replaced fiduciary manager PGGM with provider BMO.Hans Kestens, the pension fund’s chairman said that an important criterion for the change was the fact that BMO allowed the fund more leeway for selecting external asset managers.“At PGGM, the connection between the disciplines of fiduciary advice and the implementation of asset management was much stronger,” he said.“Although we could deviate from this, as a client one ties itself to their philosophy,” he explained, adding that his scheme was not dissatisfied with PGGM.last_img read more

IPE Conference: Governments must ‘get real’ on infrastructure investing

first_imgCredit: Paula GarridoDublin’s River Liffey There is a large gap between government rhetoric about investing in infrastructure and the reality of the asset class, according to Amin Rajan, CEO of think-tank CREATE-Research.Speaking in Dublin at IPE’s annual conference this morning, Rajan said governments spoke about big infrastructure projects and public-private partnerships, but were “very quick to [move] the goalposts”.“They virtually rewrite those contracts because they have to respond to public opinion,” he said.According to the sixth annual survey of European pension plans carried out by Rajan’s CREATE-Research and Amundi, infrastructure was the second most favoured asset class for investors after global equities: 58% of respondents said it was most suited to meet their pension plan’s goals over the next three years. The OECD has estimated that annual global infrastructure investment of around $6.3trn (€5.5trn) was needed from 2016 to 2030 to support growth and development, without considering further climate action.Infrastructure investment was “turning out to be a very good opportunity”, said Rajan.However, he suggested governments needed to minimise political risk for institutional investors.According to Rajan, many investors that participated in Amundi and CREATE-Research’s study had said they would accept governments offering guaranteed returns within a band, “because those sort of guarantees would be really worth something”.There was a huge backlog of infrastructure investing that needed to take place that would only be cleared as a result of private-public partnerships, which governments were beginning to realise, said Rajan. Meanwhile, if governments wanted to fund their infrastructure spending by issuing green bonds, they would have to offer higher interest rates than they were currently, he added.“The yield differential between green bonds and traditional sovereign bonds is not that big, but it can be bigger,” he said. “This is going to generate a lot of positive externalities and the governments will really have to increase that rate to attract people to buy those green bonds.”Governments were likely to take that step, but in Rajan’s view, green bonds would take off “later rather than sooner”.‘Safe haven equities’The asset class that European pension plans would most favour over the coming years was global equities, according to the Amundi-CREATE Research survey – 64% of respondents said it would be the most suitable asset class for them over the next three years.Acknowledging that this seemed paradoxical given talk about investors switching to risk-off mode, Rajan said global equity seemed to be acquiring a ‘safe haven’ status.This was partly because many companies covered by that asset class were “cash flow generators,” he said, adding: “They’ve got good brands, they’ve got good pricing power, they also have good dividends and they have large free cash flow.”Investors were becoming very selective in global equities because it was these cash flow generating attributes they were pursuing, said Rajan.Many defined benefit pension plans in Europe are or are becoming cash flow negative.last_img read more

£8.6bn London CIV names deputy CIO after head of fixed income exit

first_imgAccording to his LinkedIn profile, Corrigan is also senior investment advisor at Resco Asset Management, and was CIO at multi-family office Sandaire Investment Office from November 2016 to March 2019. Before that he worked at Lombard Odier for more than six years, most latterly as head of fundamental fixed income.Hall has been part of the pool’s investment team since 2017, having held senior roles at Lloyds and Standard Life Investments before that.According to Westminister County Council documents, Kevin Cullen, client relations director, intends to retire at the end of March this year, but will be helping London CIV with succession arrangements before then.The asset pool has advertised for a permanent CIO, with a deadline for applications of 2 February.Other recent developments at London CIV include the launch of its first infrastructure fund. It is preparing to launch several vehicles for real estate. Rob Hall has been promoted to deputy chief investment officer at the £8.6bn (€10.2bn) regulated asset pooling vehicle for 32 London local authority pension funds, which has recently commenced the search for a permanent CIO.Announcing Hall’s new position this week, London CIV also revealed that Larissa Benbow, its head of fixed income, had left the pool.It said that new joiners Azim Meghji and Andrea Wildsmith, who have been appointed on an interim basis, will cover fixed income and investment risk, respectively.Hall will also be supported by Kevin Corrigan, who became interim CIO in November following the departure of permanent CIO Mark Thompson after only a few weeks in the job.last_img read more

Spanish Pork Burgers.

first_imgFood & DiningLifestyle Spanish Pork Burgers. by: – May 4, 2011 26 Views no discussions Share Share Tweet Sharing is caring! Share This Spanish-themed burger is boldly flavored with sautéed onions (which keep it moist), paprika, garlic and green olives. The creamy mayonnaise spread is tangy with lemon and a hint of earthy saffron.Recipe Nutrition:Per serving: 354 calories; 15 g fat (5 g saturated fat, 3 g mono unsaturated fat); 71 mg cholesterol; 30 g carbohydrates; 29 g protein; 5 g fiber; 659 mg sodium; 209 mg potassium Nutrition Bonus: Selenium (31% daily value).Ingredients:1 tablespoon extra-virgin olive oil3 cups thinly sliced Spanish onion3/4 teaspoon freshly ground pepper, divided1/4 teaspoon salt, divided1 pound lean ground pork1 tablespoon finely chopped Spanish green olives, such as Manzanilla2 teaspoons minced garlic2 teaspoons Pimentón de la Vera (see Shopping Tip) or Hungarian paprika1/4 cup reduced-fat mayonnaise2 teaspoons freshly grated lemon zest1 tablespoon lemon juicePinch of saffron (see Ingredient Note)1/4 cup shredded Manchego or Monterey Jack cheese4 whole-wheat hamburger buns, toasted2 whole jarred Piquillo peppers (see Shopping Tip) or jarred pimientos, halved lengthwiseDrections:Heat oil in a large skillet over medium heat. Add onion, 1/4 teaspoon pepper and 1/8 teaspoon salt. Cover and cook, stirring occasionally, until soft and translucent, about 10 minutes. Set aside half the onion for topping; finely chop the other half.Preheat grill to medium.Place the chopped onion in a large bowl; add pork, olives, garlic, paprika, the remaining 1/2 teaspoon pepper and 1/8 teaspoon salt. Gently combine, without overmixing, until evenly incorporated. Form into 4 equal patties, about 1/2 inch thick.Combine mayonnaise, lemon zest, lemon juice and saffron in a small bowl.Oil the grill rack (see Tip). Grill the burgers, turning once, until an instant-read thermometer inserted in the center registers 165°F, 10 to 12 minutes total. Top with cheese and cook until it is melted, about 1 minute more.Assemble the burgers on toasted buns with the lemon-saffron mayonnaise, some of the reserved onions and a half a Piquillo (or pimiento) pepper.Shopping Tip: Spain is known for its superb paprika called Pimentón de la Vera, which has a smoky flavor, and for intensely flavored peppers called Piquillos. Look for these specialty ingredients in well-stocked supermarkets, gourmet-food shops or online at spanishtable.com or tienda.com.Ingredient Note: Literally the dried stigma from Crocus sativus, saffron is the world’s most expensive spice. Each crocus produces only 3 stigma, requiring over 75,000 flowers for each pound of saffron. Fortunately, a little goes a long way. It’s used sparingly to add golden yellow color and flavor to a wide variety of Middle Eastern, African and European-inspired foods.Find it in the specialty-herb section of large supermarkets, gourmet-food shops and tienda.com. Wrapped in foil and placed in a container with a tight-fitting lid, it will keep in a cool, dry place for several years. Tip: To oil the grill rack, oil a folded paper towel, hold it with tongs and rub it over the rack. (Do not use cooking spray on a hot grill.) When grilling delicate foods like tofu and fish, it is helpful to spray the food with cooking spray. Recipe source: Eating Welllast_img read more

Forecasters say winter returns just in time for Spring Break

first_imgWilmington, Oh. — A band of rain associated with a low-pressure system will move through the Ohio Valley on Tuesday. The system, including cool temperatures will bring rain, freezing rain and snow through Wednesday.Forecasters say Tuesday there is an 80 percent chance of precipitation, wind gusts up to 25-miles-per-hour and a high temperature of 41. Tuesday night the chance of rain, freezing rain and snow continues. Wednesday forecasters say snow continues through the morning hours and accumulation totals could be as much as 4 inches.For Indiana road conditions click here.last_img

Gustin grabs Saturday Showcase SportMod checkers at Independence

first_imgBy Ryan Clark INDEPENDENCE, Iowa (June 21) – Plain and simple, Jenae Gustin has Independence Motor Speedway figured out.The Marshalltown driver raced to her second straight victory and her fourth win in the last five weeks in the Karl Chevrolet Northern SportMod division Saturday night. To top off the win, Gustin took home extra cash as the SportMods were featured in the Saturday Showcase, a monthly spotlight with increased prize money for a select division. Outside front row starter Lucas Lundry held the early command while Gustin made her way through traffic from a fifth row starting spot. Gustin raced the low groove into contention as she settled into second after just four laps.A short time later Gustin reeled in Lundry, who was also running the low side of the speedway.Unable to make her bid for the lead in the bottom groove, Gustin went to work a groove higher than the leader. She and Lundry jockeyed for position and swapped the lead numerous times before she was able to break free with just a few laps to go. Once out front, Gustin set sail to win the 15-lapper by a straightaway margin. Lundry ran second ahead of Jim Aschenbrenner. Entering the evening, Justin Wacha had one career IMCA Sunoco Hobby Stock feature win to his credit. By night’s end, he earned the first win of his career on the Independence oval. Jim Ball and Chad Albert battled for the lead throughout the first half of the 15-lapper while Benji Irvine made his way to the front on lap 10 after starting in row five. Running the low groove, Wacha also marched to the front and settled into second with five laps to go. He closed the gap on the leader before pressuring Irvine with two laps remaining.Committed to the low side, Wacha surged ahead off turn four on the final lap to score the exciting win. Irvine finished second ahead of Jeremiah Wilson.Darren Ackerman continued his recent dominance in the IMCA Late Model division. He took advantage of a mid-race restart to drive to his second straight win and third victory in four weeks. Sean Johnson took control at the drop of the green and quickly pulled away from the field. Johnson built a straightaway lead and was hiding in lapped traffic until the event’s only caution slowed action on lap 13.Johnson held the point when racing resumed while Ackerman restarted fifth. Ackerman surged into third shortly after the green flag waved and then into the runner-up spot on the 16th of 25 laps.Ackerman chased Johnson until he was finally able to sneak beneath the leader as the white flag waved. Ackerman led the final circuit to take the win. Johnson and Jon Passick completed the top three. Troy Cordes dominated the 20-lap Performance Bodies IMCA Modified feature for his first local win of the year. Cordes, who started in row six, settled into the top four by the time the yellow flag waved on lap four. He took one more lap before making his way around Ed Thomas to secure the lead. Cordes drove away from the field to take the checkers by more than a straightaway ahead of J.D. Auringer. Tyler Droste finished third. In only his second appearance of the season, Brian Irvine came away with his second victory in the 18-lap IMCA Sunoco Stock Car feature.Irvine, who started 12th, survived a slew of early cautions and took over the lead on lap six. He led the remainder of the event to win in convincing fashion ahead of Jarod Weepie and Phil Holtz.last_img read more

Stedjee nets first Shawano win

first_imgBy Scott OwenSHAWANO, Wis. (July 23) – Vern Stedjee earned a hard-fought IMCA Sunoco Stock Car feature victory, his first one ever at Shawano Speedway Saturday night.Polesitter Kurt Olson grabbed the lead on the opening lap as Stedjee moved to second. As Ol­son continued to lead, Mike Schmidt passed Luke Uttecht to take third on lap five. Stedjee re­mained in pursuit of Olson while Dan Michonski battled with Schmidt for third.On lap nine, Stedjee got underneath Olson and took the lead away exiting turn four. A caution on the next lap slowed the pace and bunched the field up. As the race went back to green, Schmidt passed Olson for second and raced right on the rear bumper of Stedjee.Schmidt made an inside pass on Stedjee to take the lead back on lap 14. The duo raced side-by-side for the next two laps as Travis Van Straten joined the battle. Stedjee put his car back in front on lap 16.On lap 18, Olson’s car erupted in flames, ending his night while running in fifth and bringing out a caution with just two laps to go. Stedjee was smooth on the restart as Van Straten raced to his inside. On the final lap, Van Straten got inside the leader but Stedjee would not be denied his first Shawano Speedway feature victory.Van Straten, Schmidt, Rod Snellenberger, and Trent Nolan completed the top five.Marcus Yarie won for the sixth time in the Xtreme Motor Sports IMCA Modifieds while Jason Jach earned his first Karl Chevrolet Northern SportMod victory of the year.Hall of Fame saw the first-ever track champion at Shawano, Clyde Schumacher, and 1989-91 hobby stock track champion George Sweere honored as the most recent members of the speed­way’s Hall of Fame.last_img read more

COVID-19: FIFA count cost to football

first_imgRelatedPosts Ekiti tasks teachers on dedication to duties as schools resume COVID-19: Ebonyi lifts restrictions on weddings, others 15 states to benefit from COVID-19 education incentive – NEC The COVID-19 pandemic is likely to cost club football $14 billion (about N5.4 trillion) this year worldwide, a leading official at global football body FIFA said on Wednesday.Olli Rehn, who heads the FIFA committee set up to tackle the effects of the pandemic, said the cost is around one-third of its value. He added that FIFA, along with financial consultants, had estimated the club game to be worth between $40 billion and $45 billion worldwide.Rehn said the figure of $14 billion was based on the current scenario, where football is slowly restarting after a three-month hiatus earlier this year.But the FIFA official stated that it would be a “different ball game” if the pandemic did not let up.“Football has been hit very hard by the coronavirus pandemic,” Rehn, a former EU commissioner and now governor of the Bank of Finland, said.“It has created plenty of turmoil at different levels with some professional clubs facing very serious difficulties. “I’m also very concerned about youth academies and lower division clubs.”Rehn said that football in South America had been especially hard hit, while Africa and Asia were also a concern.“It is a real danger that the good work that has been done developing football in Asia and Africa could be ruined. So, we want to soften the blow and maintain the development that has been done,” he said.FIFA has allocated $1.5 billion to help tackle the effects of the pandemic and Rehn said 150 of the 211 member associations had so far applied for funds.He said while football was slowly re-awakening, another downturn could not be ruled out. “The critical thing will be whether a vaccine will be developed and can be used, and that we have medical and other means to fully contain and tame the pandemic, and that is uncertain,” Rehn said.“We cannot rule out worse developments and that would be another ball game if the pandemic were to continue in a severe form next year. Now we are working on the basis of the current scenario.”Reuters/NAN.Tags: COVID-19 pandemicFIFAOlli Rehnlast_img read more