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European Commission to push ahead with revised IORP Directive

first_imgIn the draft work programme’s preamble, the Commission noted that the European Fund for Strategic Investments would only form part of the €300bn investment programme, with the use of “innovative” financial instruments key.It also identified the completion of the “significant overhaul” of financial regulation in the wake of the 2008 financial crisis as a major area of its work.“The financial regulatory framework,” it added, “will be further strengthened by a proposal dealing with crisis management and resolution of non-bank systemic entities.”Jonathan Hill, commissioner for financial services, previously told a parliamentary hearing he would like to publish a proposal tackling the risk of clearing house bankruptcy early next year.The draft further identified 80 proposals that would either be withdrawn or modified, many of which are directives and regulation that have stalled due to lack of support from member states.Despite being listed as “under review” in a November letter from Juncker and Commission vice-president Frans Timmermans, the IORP Directive was not among the 80 proposals to be abandoned or substantially modified.Hill told journalists in Brussels earlier this week it would be “odd” to withdraw the revised IORP Directive now, when the Council of the EU had, under the Italian presidency, agreed a number of changes over the course of four compromise drafts.The Council most recently finalised its negotiating mandate with the European Parliament, although no MEP has been appointed as rapporteur to oversee its passage through the chamber. Dave Roberts, senior consultant at Towers Watson in the UK, noted that the withdrawal of the revised IORP Directive so soon after Michel Barnier published it risked being perceived as “openly critical” of the former commissioner’s work.Roberts also noted the problems that could have arisen due to the commissioners currently involved.“Given that Mr Timmermans is Dutch and that the Commissioner now in charge of IORP II, Jonathan Hill, is from the UK, withdrawing the Directive could lead to accusations of national bias – with the Netherlands and UK leading antagonists of IORP II,” he said. The European Commission is set to push ahead with the revised IORP Directive, with the legislation not among the dozens of proposals earmarked for withdrawal in a draft of the executive’s work programme.The 2015 Work Programme, set to be published on 16 December, outlines president Jean-Claude Juncker’s priorities for the coming year and highlights the launch of the Commission’s €300bn investment plan, among other measures to stimulate growth.The undated draft of the work programme seen by IPE is likely to have been circulated at a meeting of Commission vice-presidents earlier this week.It listed the action plan on the Capital Markets Union and a framework to wind up systemically important financial institutions, such as clearing houses, as two of the new measures the Commission would prioritise in 2015.last_img read more

Eagles Conquer Hilltoppers On The Diamond

first_imgThe Jac-Cen-Del Eagles whitewashed The Shawe Memorial Hilltoppers 10-0 in Varsity Baseball play at Madison.JCD vs. SM Baseball (5-6)Courtesy of Eagles Coach David Bradshaw.last_img

Masterpiece by Alex Wood lifts Dodgers to 2-0 victory

first_imgDodgers southpaw Alex Wood was ripped badly when he pitched in Arizona last Friday, to the tune of eight runs — six earned — in just 1 2/3 innings.What a difference four days make.On Wednesday, Wood came through with an absolute masterpiece. He allowed just one hit over eight innings and the Dodgers rode a home run by A.J. Ellis and an RBI single by Corey Seager to a 2-0 victory over the Colorado Rockies before 45,906 at Dodger Stadium.Wood allowed just a single by Kyle Parker in the second inning. He struck out five and did not walk a batter on 78 pitches. Thirteen of his 24 outs were via the ground ball. When Wood (11-10) came into the dugout after a quick eighth, Mattingly went to shake his hand, the sign he was coming out. Wood at first refused to shake.“He looked at me kind of funny,” Mattingly said, laughing. “I just said, ‘That’s it, don’t even ask.’”Mattingly said that if the lead were 4-0, he might have left Wood in. Wood found the humor in fanning on the handshake.“I was a little surprised (to be coming out),” Wood said. “He came to shake my hand, I was pulling it back a little bit.”He understood the thinking.• Video: Dodgers manager Don Mattingly discusses pulling Alex Wood after 8 innings“Obviously, you always want to stay in, but I wasn’t going to fight too hard, especially after my last one,” he said. “If I wouldn’t have had that last one I probably would have put up more of a fight, but 2-0 ballgame, we’re trying to clinch our playoff berth and have some confidence going into this weekend against Pittsburgh.“Ninth inning, as everybody knows, is Kenley’s for the most part.”The Dodgers have Thursday off and host Pittsburgh beginning Friday.Wood liked his stuff.• Photos: Los Angeles Dodgers defeat the Colorado Rockies 2-0“Yeah, you know, baseball’s a funny game, right?” he said. “It was obviously my worst of the year the last time out. Didn’t really have all three (pitches), which doesn’t happen hardly ever.“Then come in tonight, thought we commanded the fastball to both sides of the plate and felt the changeup was real good. And, obviously, got a lot of early contact tonight.” Wood was asked how the four days between the two starts were.“Long,” he said.Ellis hit his sixth home run of the year off Rockies southpaw starter Jorge De La Rosa (9-7) in the second inning and Seager made it 2-0 with an RBI single in the sixth after a double by Austin Barnes.Ellis loved what he saw from Wood.“He was phenomenal tonight, as good as I’ve caught him,” Ellis said. “And I know for him personally coming off Arizona, this was a big start for him and a big start for us trying to win the series. Give him all the credit, he was outstanding tonight.”Seager said the 2-0 lead felt larger the way Wood was working.“Wood threw really well,” he said. “Eight innings, one hit, something like that. When you do that, one or two runs is like eight or nine runs.”The Dodgers did not start several regulars after Tuesday’s marathon and their lineup included four players who were recently in Triple-A. Third-string catcher Barnes, a former infielder, started at second base with Chase Utley starting at first for Adrian Gonzalez. The low pitch-count notwithstanding, Wood did not get the chance to finish because closer Kenley Jansen was brought in to save his 32nd game. Jansen gave up a two-out single to Charlie Blackmon before striking out Carlos Gonzalez to end the game.The game took 2 hours and eight minutes, a night after the teams played for 16 innings over 5 hours and 23 minutes.The first-place Dodgers (84-61) reduced their magic number to 10 and retained their lead of 7 1/2 games over the Giants in the NL West.Dodgers manager Don Mattingly talked about the ground balls Wood induced.“It seemed like he (Wood) was down all night,” Mattingly said. “He just seemed a little sharper with everything. You never know what goes on from game to game. It was good tonight. He got on a little roll early and just kept his pitch-count down.”center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

Production up, giving economic forecast shot in arm

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREOregon Ducks football players get stuck on Disney ride during Rose Bowl event“The economy is becoming a well-oiled machine,” said Joel Naroff, president of Naroff Economic Advisors. Industrial strength in March was broad-based. Machinery, clothing, consumer appliances, furniture and carpeting, and business equipment all posted production gains. Even the struggling automotive sector saw some improvement. That swamped some weakness in home electronics and textiles. Economists believe economic growth for the January-March quarter will clock in at a brisk pace of 4.5 percent or higher. The government will release first-quarter figures at the end of the month. In the current April-to-June quarter, the economy is expected to moderate to a pace in the range of 3 percent, which would still represent good growth, analysts said. With the economy solidly chugging ahead, the Federal Reserve and other economists are being especially watchful for any signs that inflation may flare up. WASHINGTON – U.S. industry headed into the spring with a full head of steam: Production at factories, mines and utilities rose by 0.6 percent in March in the latest encouraging sign for the economy. The snapshot of industrial activity, released by the Federal Reserve on Friday, comes on the heels of other positive economic barometers. Consumers – a key ingredient of the country’s economic health – are keeping cash registers busy, and businesses are ramping up hiring, according to recent government reports. The solid increase in industrial production in March came after a 0.5 percent advance in February and was the largest since December. The showing was better than economists were expecting. The Federal Reserve boosted a key interest rate to a five-year high on March 28, the latest in a series of rate-raising moves since June 2004 to keep inflation in check. Many analysts expect another rate increase on May 10, the Fed’s next meeting. The proportion of overall industrial capacity in use climbed in March to 81.3 percent, the highest since September 2000, the Fed report showed. Economists look at this capacity utilization figure for clues about the future inflation climate. For instance, if plants were running at full tilt and couldn’t crank out enough goods to satisfy customers’ demand, there could be a run up in prices. March’s capacity utilization figure isn’t worrisome at this point, analysts said. “We are not there yet. I think anything north of 83 percent, we could see price pressures,” said Ken Mayland, president of ClearView Economics. The biggest slice of overall industrial production is manufacturing. Production at factories rebounded in March, rising by 0.5 percent. Daniel Meckstroth, chief economist for the Manufacturers Alliance/MAPI, a research group, said the performance is akin to “a green light for manufacturing.” Analysts said factories are benefiting from decent demand for their goods not only from customers in the United States but also from other countries.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

Alternative Championship table after 17 matches, based on statistics

first_imgIt’s shaping up to be another exciting season in the Championship and, quite frankly, it’s anyone’s to win.For all the early talk of Leeds United winning the title they now sit third, with seven points separating the top 10 clubs.Meanwhile, the fight against relegation appears equally as tight as five points separate 15th spot to 23rd, although Ipswich Town are five adrift at the foot. 9 24. Bolton Wanderers – Real position = 23 (relegated)Real points = 16 | Expected points = 923. Rotherham United – Real position = 18 (relegated)Real points = 18 | Expected points = 1022. Reading – Real position = 20 (relegated)Real points = 16 | Expected points = 1421. Ipswich Town – Real position = 24Real points = 11 | Expected points = 14 7. Bristol City – Real position = 13Real points = 22 | Expected points = 276. Queens Park Rangers – Real position = 10 (play-off spot)Real points = 26 | Expected points = 285. Birmingham City – Real position = 12 (play-off spot)Real points = 24 | Expected points = 284. Norwich City – Real position = 1 (play-off spot)Real points = 33 | Expected points = 28 9 West Brom striker Dwight Gayle has been in the goals this season. 9 12. Blackburn Rovers – Real position = 9Real points = 26 | Expected points = 2311. Preston North End – Real position = 18Real points = 18 | Expected points = 2310. Swansea City – Real position = 8Real points = 26 | Expected points = 23 Ipswich Town fans celebrate a goal in their derby clash with Norwich City Sheffield United star Eddie McGoldrick misses a penalty against Sheffield Wednesday. 9 Norwich City players celebrate with their own fans at Ipswich Town’s Portman Road. 9 14. Stoke City – Real position = 14Real points = 22 | Expected points = 2213. Aston Villa – Real position = 11Real points = 24 | Expected points = 22 Jack Marriott celebrates scoring for Derby 9 Millwall players celebrate Jack Grealish in action for Aston Villa. Here at talkSPORT.com we’re always keeping an eye on EFL Stats on Twitter to see how Football League players and clubs are performing based on their expected goals and other data.They have come up with an alternative table based on their rough xG ratings across the whole season.Find out how the stats believe the Championship SHOULD be shaping up below… 1. Sheffield United – Real position = 4 (Championship title winners)Real points = 30 | Expected points = 36 20. Sheffield Wednesday – Real position = 17Real points = 20 | Expected points = 1519. Millwall – Real position = 21Real points = 16 | Expected points = 18 9 Expected goals (xG) is a statistic used to work out how many goals should be scored in a match.Every single shot is awarded an xG value based on the difficulty of the attempt, with factors including distance from goal, type of shot and number of defenders present affecting the value.The higher the xG of a particular shot, the more likely a goal should be scored from that shot.The xG value of every shot in a game is then used to calculate the expected goals in a particular match. 9 9 18. Wigan Athletic – Real position = 16Real points = 20 | Expected points = 1917. Hull City – Real position = 22Real points = 16 | Expected points = 2016. Nottingham Forest – Real position = 7Real points = 27 | Expected points = 2115. Derby County – Real position = 6Real points = 28 | Expected points = 21 What is expected goals? 3. Middlesbrough – Real position = 2 (play-off spot)Real points = 31 | Expected points = 312. Leeds United – Real position = 3 (automatic promotion)Real points = 30 | Expected points = 32 Tom Carroll in action for Swansea City. Kemar Roofe celebrates scoring against Nottingham Forest. 9. Brentford – Real position = 15Real points = 21 | Expected points = 258. West Bromwich Albion – Real position = 5Real points = 28 | Expected points = 26last_img read more