Invesco is embroiled in a row with its former fund as it refuses to lower management fees

Invesco holds 16.8 per cent of the shares, and the majority of the other shareholders are inexperienced retail investors who may not vote or fully understand the implications of the vote.Adamson said IPE is attempting to persuade Invesco to withdraw the requisition, which he believes is “ill-conceived”. But if the EGM does end up going ahead, IPE would be doing everything possible to ensure the entire shareholder base is fully informed.Brewin Dolphin, a wealth manager which owns around 2.5 per cent of IPE, said that it was “concerned” about the changes proposed by Invesco.”We encouraged the board to seek a renegotiation and restructuring of the fees paid to Invesco Perpetual which are high and encourage excessive risk taking with client funds,” said Brewin’s Guy Foster. Invesco is embroiled in a row with one of its former funds, London-listed investment trust Invesco Perpetual Enhanced Income (IPE), after it refused the independent board’s request to lower management fees.Invesco announced in April that it was quitting as the investment manager of IPE, after the trust’s independent board – headed by chairman Donald Adamson – requested that it push down the management fees it was creaming off from clients. “We cannot support the removal of board members under such circumstances and would urge parties to return to good faith negotiations or otherwise leave the board to continue working to reduce fees and shore up the uncovered distribution for the benefit of shareholders.”Asset managers have been under increasing pressure to lower their fees recently, as increased scrutiny from the Financial Conduct Authority, regulation in the form of Mifid II and the rise of cheaper passive funds has squeezed them.Read more: Financial watchdog’s push for reform of the £7 trillion asset management industry could sideline active funds Invesco is embroiled in a row with its former fund as it refuses to lower management fees However the massive investment management firm is now using its position as IPE’s largest shareholder to boot Adamson and non-executive director Richard Williams, both of whom called for negotiations on fees, off the board.Read more: Gina Miller is planning to sue the FCA over its lenient approach to new regulation”Invesco has refused to negotiate,” Adamson told City A.M. “We did have a good relationship – in my chairman’s statement I acknowledged and thanked Invesco for the work they had done. We now feel very disappointed and shocked.”He added that the company was showing complete disregard for good corporate governance practice and was in breach of its own policy, which requires it to “respect the primacy of client interests”.Today, IPE announced that it had received promising proposals from four “household name” investment managers – all offering to manage the trust for fees much lower than the current 0.9 per cent of net asset value charged by Invesco. Lucy White whatsapp Tuesday 29 May 2018 11:28 am Share We can find no justification for Invesco’s decision to abandon those negotiations, and subsequently use its status as the largest aggregate holder of shares (on behalf of its clients) to seek the removal of two of the directors. They also were not proposing to charge a performance fee, which Invesco did.The four offers which IPE’s board has shortlisted for “further investigation” range from a firm with £11bn in UK assets under management proposing a fee of 0.35 per cent, to a firm with total global assets under management of $370bn pitching a fee of 0.65 per cent.Read more: TalkTalk walk walk? Invesco filings baffle investorsAdamson said the offers proved that Invesco’s insistence on higher fees was out of line with the market.Yet due to the Invesco requisition, IPE must now hold an extraordinary general meeting (EGM) by 22 July to allow shareholders to vote on whether to get rid of Adamson and Williams. whatsapp read more

Update: Alaska AG says North Slope Borough can’t ‘commandeer’ Ravn’s North Slope assets

first_imgEconomy | North Slope | TransportationUpdate: Alaska AG says North Slope Borough can’t ‘commandeer’ Ravn’s North Slope assetsApril 8, 2020 by Lex Treinen & Nat Herz, Alaska Public Media – Anchorage Share:In Anchorage, passengers board a RavnAir Group flight bound for Unalaska.  (Photo by Laura Kraegel/KUCB)Updated story — April 8, 2020 — Nat Herz, Alaska Public MediaAlaska Attorney General Kevin Clarkson says there’s no legal authority behind the North Slope Borough’s emergency order attempting to seize the property of a bankrupt airline within the borough’s boundaries.Borough Mayor Harry Brower issued the order Sunday, the same day that RavnAir Group filed for bankruptcy in Delaware court.Ravn was the only passenger air service to some of the borough’s isolated villages.Last week, the company announced the termination of nearly all of its flights to the more than 100 communities it served, citing a 90 percent reduction in ticket sales due to the coronavirus pandemic. On Sunday, it announced it was shutting down completely and filing for bankruptcy.Brower said the airline’s assets were needed to guarantee companies could step in to replace Ravn in order to move food and medical supplies for the borough’s residents.But in a prepared statement on Tuesday, Clarkson said Brower’s order is “counterproductive” and complicating the ongoing bankruptcy proceedings. Those proceedings could lead to investment for Ravn that could help pay money owed to company employees that were laid off, along with establishing substitute service.Clarkson says the state appreciates the borough’s goal of establishing substitute service. But that will be more difficult as long as local governments are attempting to seize Ravn’s property, Clarkson added.Clarkson says that Ravn’s property is part of its bankruptcy estate, which means the borough’s emergency order is void under federal and state law.A borough spokesman did not immediately respond to a request for comment. Original story — April 7, 2020 — Lex Treinen, Alaska Public MediaThe North Slope Borough’s government says it is taking possession of all of RavnAir Group’s planes and other property within the borough’s boundaries in order to guarantee continued air service to the region.Until last week, Ravn was the sole passenger air carrier to several North Slope villages. On Sunday, the company announced that it was shutting down all operations and filing for bankruptcy.In an emergency order signed Sunday by Mayor Harry Brower, the borough says that under its authority during a disaster declaration, it is “commandeering” all of Ravn’s “hangars, equipment, operations manuals, parts, supplies, vehicles, (and) airplanes.”The order also says that the North Slope Borough can take possession of “intangible assets,” such as security codes and leases.“The borough must, in this time of disaster, ensure that its residents have food, medical supplies, and medical transport,” the order says.Ravn’s ground crew, hangars and equipment were still being used through Sunday in Utqiagvik, the North Slope’s hub community, according to Matt Atkinson, a part-owner of Wright Air.Wright Air has taken over Ravn’s routes on the North Slope, and on Sunday afternoon, Atkinson said Wright had hired five of Ravn’s ground crew to keep the flights going, but hadn’t yet secured access to facilities.Borough officials couldn’t immediately be reached to explain the practical effect of the order; a North Borough spokesman didn’t immediately respond to a request for comment. RavnAir Group did not immediately respond to phone calls or emails.The North Slope Borough had an estimated 9,800 residents in 2019, according to the U.S. Census Bureau, with about half living in Utqiagvik. The rest live in the North Slope Borough’s seven other communities of Anaktuvuk Pass, Atqasuk, Kaktovik, Nuiqsut, Point Hope, Point Lay, and Wainwright.Ravn to end all service and lay off all staffShare this story:last_img read more

“Politicians are scared of telling the truth”: Circle blames Hinchingbrooke hospital failure on unequal spending cuts across the NHS

first_imgTuesday 31 March 2015 4:42 am Show Comments ▼ Exclusive: Today, the NHS’s biggest privatisation experiment ever comes to an expensive and embarrassing end – Circle Healthcare, which was chosen by the government three years ago to turn around the troubled Hinchingbrooke hospital in Cambridgeshire, is abandoning the project seven years early, leaving behind a deficit of between £7.7m and £12m. What’s more, the taxpayer will have to make up the difference.But Nick Boyle, business development manager at Circle, has told City A.M. that as soon as the hospital fell into Circle’s hands it was no longer placed on a “level playing field” with the rest of the NHS – a fact “ignored” by politicians.  “One of the key problems with the management and improvement of the health service is that it is so politicised,” he said. “Politics just always gets in the way of everything, and especially near election time – politicians are scared of telling the truth.” He said that on top of extremely high efficiency gains targets, which exceeded those of any other nearby hospitals, Circle faced more spending cuts than anyone else during its tenure: “In the last year, Circle’s budget was cut by over 10 per cent, but the other two hospitals in the local area faced reductions of just three or four per cent. “So on the one hand we were being hit by increasing demand, with more people attending A&E over the Christmas period, and on the other hand we were asked to do it for 10 per cent less money, and that was just not possible.” Politics just always gets in the way of everything, and especially near election time – politicians are scared of telling the truth.Circle’s withdrawal comes at a critical time for the NHS, with the debate over private sector involvement intensifying ahead of the general election in May. Politicians averse to the idea will undoubtedly use Hinchingbrooke as a paradigm of failure, citing high transaction costs and fragmentation of services as reasons to avoid it, while those in favour will highlight the gains made despite the ultimate withdrawal. The reality is, if the figures are scrutinised, Circle made a considerable saving for Hinchingbrooke, and therefore the taxpayer, over the three years it was in control. It is estimated that if the hospital had remained in public sector hands and continued on its downward trajectory, taxpayers would now be footing a bill in the region of £30m, rather than £10m. “In terms of financial performance of the hospital, we actually did very well. By most measures, we saved in excess of £20m for the taxpayer,” says Boyle. “People forget there have been increasing funding issues throughout the whole NHS, and over the last three years the average NHS hospital in this country has made two to three per cent productivity gains each year, at best. For Hinchingbrooke, we achieved five per cent gains.”  The contract to run Hinchingbrooke began in February 2012 (Source: Andy Parrett) But although the hospital was benefiting financially, Circle was not. After just seven months in charge it had generated a deficit of £4m, and in January this year it was faced with a choice of either injecting £5m of its own money or walking away – this was the tipping point, and the moment at which Circle could legally exit the deal. Circle announced that the franchise was “no longer viable under the current terms of the contract”.If the NHS is going to survive then it has to embrace innovationWith its shiny track record for transforming NHS services – it had already done an excellent job at NHS Trusts in Burton and Nottingham – it is surprising difficulties escalated so quickly in the case of Hinchingbrooke. But this was in many ways an experiment, and an important one at that – never before had the control of an entire NHS hospital been handed over to a private company.So how did it go so wrong? Boyle believes Circle’s “co-operative model”, which gives doctors and nurses more autonomy over the running of the hospital, was something unusual for the NHS and incompatible with its deeply ingrained working style.  “The NHS has been increasingly burdened with bureaucracy, and that filters down to every part of the system,” said Boyle. “It’s a great shame that politics plays such a great role in the NHS generally. we think if the NHS is going to survive then it has to embrace innovation. It has to find new ways of doing things, and needs to have a structure that allows organisations like Circle and others with novel ways of doing things to come in and learn from us. It needs to allow us to help and support the NHS.” Fear of changeThe fight against privatisation at the political level is stronger than any evidence supporting a case against it. Indeed, six or seven per cent of services are already tendered out to private companies and this has been consistent for many years – there is nothing to suggest the private sector is being allowed or encouraged to gradually come in and take full control.  What is comes down to, according to Matthew Custance, healthcare partner at KPMG, is such an intense bond with the NHS brand, there’s a widespread fear of disrupting it. “I think people feel very protective over the NHS because it’s a fantastic service and its very close to people, so they don’t like the idea of it changing from what it is – partly fear of change,” he says. “Hinchingbrooke was a complex case, because on the one hand you could say it saved taxpayers at least £5m and it is therefore a good example of the private sector helping taxpayers.” But not all patient experiences have reflected this ambition to help. Earlier this month, 74-year-old Nicholas White from Wales was given a £1,775 bill for treatment at the hospital, on the grounds he was Welsh and therefore “technically a foreigner”.  Hinchingbrooke was never done in the right way – Circle was asked to come in and work according to the same model and somehow make incredible efficiency savings”It was very stressful,” he told the press. “I’ve worked for 40-plus years and always paid my taxes, so to be suddenly told that I was going to be charged for treatment on the NHS was shocking. I was infuriated.” The hospital defended itself, saying White was given the bill so that he could pass it on to his GP, and whether or not this was the intention, the case has done nothing to assuage people’s fear of privatisation eventually leading to a paid-for service. People are reluctant to allow experimentation within the NHS (Source: Getty) A report by the Care Quality Commission also branded the hospital’s services as “inadequate” earlier this year, although the hospital disputed the accuracy of its report, saying it contained 300 errors. Nonetheless, health secretary Jeremy Hunt said last week that the NHS Trust Development Authority (TDA) was working to resolve concerns raised in the report:  As for every provider of NHS services, the priority at Hinchingbrooke Health Care NHS Trust will continue to be the provision of safe, high-quality services to patients. To address the concerns raised by the Chief Inspector of Hospitals in the CQC report, the NHS Trust Development Authority has appointed an Improvement Director as part of the special measures regime now in place at Hinchingbrooke Health Care Trust. But could the private sector ever have the power, or indeed the desire, to reduce quality and charge at point of service, all in order to generate more profits? Custance says this would never happen, as long as the NHS maintains overall control. He adds that he can’t see how anyone would end up benefiting from such a situation. “A paid-for service would just not happen because it’s not in the interests of the private sector, because they are working for the NHS. They would have no incentive to start asking for payment – the issues of who pays for care and who offers it are very separate.”The experiment goes onThe official handover will be overseen by the TDA. Stephen Webb, a member of the Hinchingbrooke team, says the fundamental ethos of the hospital hasn’t, and won’t change: “I think there’s a general feeling that having Circle on board certainly got more investment in, and overall there were a number of benefits. But the vision for the hospital is still very much what it has always been – it is a very well regarded hospital with a drive to improve.” But despite its failure with Hinchingbrooke, the government has not been put off bringing private companies on board – only last month, NHS England listed a plan to outsource £5bn worth of work, which would involve advising new doctor-led clinical commissioning groups that spend more than two-thirds of the NHS budget buying care for patients. Companies in the running include Capita Business Services, Mouchel and Optum. The only thing changing in this case was the identity of the management, and that was the fundamental flaw – it wasn’t going to work But Custance believes major privatisation projects simply won’t work until the differences are resolved – there is no point clashing the public and private sector together in the hope that one day they’ll see eye-to-eye. What must be done first, he says, is to address the relationship. “The problem is not whether an operator is private or public – when you want to transform how hospital services are delivered, a lot of effort is needed and the process is extreme. This means change is difficult within the NHS and it is slow for private companies to succeed when they start working for it,” he said.  “I don’t think Hinchingbrooke was ever done in the right way – Circle was asked to come in and work according to the same model and somehow make incredible efficiency savings. The only thing changing in this case was the identity of the management, and that was the fundamental flaw – it wasn’t going to work.” A report recently published by the Public Accounts Committee highlighted the difficulty the two parties faced in collaborating – it described oversight of the contract as “poor and inadequate”, describing the franchise deal as an “innovative, but ultimately unsuccessful, experiment”. It said the Department of Health did not put sufficient controls in place to learn from this innovation, and that responsibility was “fragmented and dispersed across the system”.  What needs to change? Compromise, says Custance. “At the moment, working with the NHS as a private company is hard, and the NHS needs to give them more room to experiment and change. On the other hand, private enterprises need to understand that they have to constantly demonstrate having the same ethos as the NHS and the same understanding of how the system works. It takes time, and compromise is necessary if you want to be part of the system.”   whatsapp “Politicians are scared of telling the truth”: Circle blames Hinchingbrooke hospital failure on unequal spending cuts across the NHS Sarah Spickernell Tags: NHS Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekComedyAbandoned Submarines Floating Around the WorldComedyEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.comBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushlast_img read more

Pharmalittle: Axovant Alzheimer’s pill fails study; charity probed over patient support

first_img Tags neurologypharmaceuticalspharmalittleSTAT+ Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED [email protected] By Ed Silverman Sept. 26, 2017 Reprints GET STARTED Pharmalittle: Axovant Alzheimer’s pill fails study; charity probed over patient support What’s included? STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. What is it? Ed Silvermancenter_img Hello, everyone, and how are you today? We are just fine, thank you, despite a bit of road lag after taking a late-night drive to the town where our corporate nerve center is located. A change of pace is a good thing, of course, although we must now forage for cups of stimulation. Then again, this could be an adventure. Speaking of which, the news is always full of adventure. To prove the point, here are some tidbits. Hope your day is delightful and do keep in touch …An Axovant Sciences (AXON) pill being tested to blunt Alzheimer’s failed in a late-stage clinical trial, STAT tells us. In the study involving more than 1,300 patients with mild to moderate Alzheimer’s, the combination of intepirdine and Aricept failed to outpace the older drug alone, missing key goals of improving memory and physical function. The news wiped out about 70 percent of its market value in early-morning trading. The drug maker was worth more than $2.6 billion before the news of the failure. Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Alex Hogan/STAT About the Author Reprints Log In | Learn More Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. @Pharmalot Pharmalot last_img read more

Isabel Dwyer: From La Rioja to Portlaoise – an unforgettable, terrifying and emotional scramble home

first_img Twitter Isabel Dwyer: From La Rioja to Portlaoise – an unforgettable, terrifying and emotional scramble home Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival By Isabel Dwyer – 19th March 2020 Facebook Electric Picnic organisers release statement following confirmation of new festival date Electric Picnic WhatsApp TAGSCoronavirusIsabel Dwyer Previous articleJOB VACANCIES: Local Nursing Home planning to hire extra staff as Coronavirus could hit workforceNext articleLeaving Cert Orals and practical exams cancelled Isabel DwyerIsabel Dwyer is from Portlaoise and first contributed to LaoisToday as our Leaving Cert Diarist during the state exams in June of 2017. Isabel is currently studying Creative Writing in NUI Galway Pinterest WhatsApp Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role News RELATED ARTICLESMORE FROM AUTHOR Twitter Home News Isabel Dwyer: From La Rioja to Portlaoise – an unforgettable, terrifying and… News Facebook Pinterest Thousands of Irish people are currently trying to get back home from the four corners of the globe. Minister for Transport Simon Coveney has urged those who wish to return home to do so before Saturday evening because after that, they cannot guarantee that they will be able to. The country of Spain is in a total lockdown at the moment as they try to curb the spread of the Coronavirus. There are now 13,910 cases of Covid-19 in Spain with 623 deaths. On Saturday, they followed Italy and imposed an unprecedented lockdown.Portlaoise’s Isabel Dwyer found herself caught up in the second deadliest outbreak of the virus in Europe behind Italy. The 20-year-old Creative Writing and Arts student from NUIG arrived in an area of Spain called La Rioja in January as part of the Erasmus programme.On Tuesday, she shared her account of how the virus spread at a rapid rate all around the country in just under a week. And now, she brings us the remarkable journey she embarked on to get home which saw her travel from Bilbao to Paris to Dublin – and end up at home in self isolation in Portlaoise: One second you’re eating a pastry and the next you’re fleeing the country.That was Thursday March 12 for me. My phone buzzed to the point of falling off the bed as I read my emails from my laptop:“We note that last night the DFA upgraded its advice for Spain and now includes the regions Madrid, Vitoria and Labastida in the Basque Country and La Rioja as areas to avoid.“It is our practice to align with DFA travel advice in determining actions around the health and safety of our students and community. As the DFA has now judged these particular regions to be unsafe places for Irish citizens to travel to, by extension, the view of the University is that these regions are unsafe places in which its students should remain. As a result, it is the University’s preference that you do not remain in these regions to complete your semester.”These were the words that came from the NUIG Office of International Affairs. Spain has seventeen autonomous regions and one of the top three worst affected regions was the one I found myself in, eating my flaky pastry. I swiped the crumbs off my duvet, to the ground, and searched for SkyScanner.When in Logroño, you have two awkward options of returning to Ireland. One is to get a four-hour bus down to Madrid and fly to Dublin from there. The other is to travel up to Bilbao and take a flight home from there. Flights from Madrid to Dublin, outside of school holiday times, are often cheap.You can come by a one-way ticket for fifty euro or less. On March 12, a Thursday, after Varadkar’s announcement, tickets to Dublin were ranging from minimum €190 to much, much more. Excluding bags. And boy was I going to need a lot of bags.I ended up paying €240 for a non-direct flight from Bilbao. My journey would go something like this: Logroño to Bilbao, Bilbao to Paris, Paris to Dublin. One train journey, two flights. Two high-risk cities, two high-risk airports.I took one trip outside my apartment that day, one interruption in the crazed packing, to buy myself one single can of San Miguel for seventy cents. Those 330ml of cerveza helped me sleep that night, the night of March 12.On Friday morning I woke early. I had some cereal and thought it was a pity to leave such delicious cereal behind, but after a wasted ten minutes of trying to squeeze the box into my suitcase, I realised sacrifices would have to be made.Let it be noted that I am a girl of many possessions, of many unnecessary pairs of trousers, and that I had planned on bringing home some of said belongings around Easter time, divvying up the big move before heading home for good. I did not plan on having to go home before Easter even arrived.So, I headed off with two 24kg suitcases, one gear bag of 10kg, and one backpack. For reasons I still can’t quite justify, I decided to walk to the train station instead of ordering a taxi.It might have been my fear of making calls through Spanish, or perhaps my generation’s fear of being able to make phone calls in general. Anyway, Google Maps said the station was one kilometre away, and one kilometre I could handle.Or so I thought. It turns out, carrying that many bags, wearing a large jumper and jacket (they wouldn’t fit in the case), over the uneven pavements of Spain in nineteen or so degrees is not an enjoyable task. An almost impossible one, in fact.Even so, I pushed on. My face throbbed with the heat. Onlooking Spaniards in their cars came to a slow as they passed me, wondering where that pale foreigner was headed with all that stuff. I reached the point at which Google Maps told me that the Logroño Train Station was situated. I looked up. There, I saw not a train station at all, but a furniture shop.I, and my bags, walked towards the furniture shop. We walked past it. Around it. Behind it. Nowhere did I see a train station. Nowhere did I see a sign. It is possible, I have noticed from my time in Spain, that the Spanish people have not quite yet grasped the concept of signs or of general efficiency at all.After ten minutes or so of wandering back and forth, I made the discovery that the furniture shop was in fact a part of the train station, covering the entrance. Like I said, general efficiency.So, I printed my ticket to Bilbao. I got on the train. I did so with help from a stranger, as, when it comes to the trains in Spain, there is an upwards gap of about a foot between the train and the platform.We, together, heaved my bags onto the carriage, as she said many things to me that I didn’t understand. When finally sitting on the train, the ticket inspector told me my bags were in the way of the aisle.I had shoved them in as much as I could but there was no space left in the designated area, and this I explained to him. He shrugged and told me they needed to be moved. So, I started to cry. He headed himself off fairly quickly then. I’d love to tell you the tears were only a ploy to get rid of him. They weren’t.On the three-hour trip to Bilbao, passengers around me coughed consistently without even attempting to cover their mouths.We arrived in Bilbao-Abando Train Station.At the station, I decided to get the metro to the airport. The Metro lies two, steep levels below the point from which the trains depart. So down my bags and I went, down two separate escalators (there was no lift, as incorporating a lift into the main station of Northern Spain’s largest city would be far too logical).All 102kg of us. There, on that bottom floor, I quickly realised there was no metro from the station to the airport. Back up we went.After an expensive taxi to the airport, and after checking in those bags (thank God), I set out for security. Here, I would encounter my second tears of the day.In Bilbao airport security, there was no available hand sanitiser, and nobody wore gloves. For reference, Bilbao would be the main airport in Northern Spain, and the largest city in Basque Country, which at this point was home to 261 confirmed cases of the virus. But no precautions whatsoever at the point in the airport where most hands-on contact is made.After being shoved in the queue to the conveyor belts, after dumping my only bottle of hand sanitizer due to unclear rules on liquids, and after being grabbed by the arm by a security member for not removing my laptop from its case, I cried in front of the entire staff and all passers-by. Big, blubbery, snotty tears. And not a clean hand to wipe them with.In the bathroom, I tried to wash my hands. No soap in the dispensers. I tried to dry my hands. Both hand dryers were broken.The night before, I had make-shifted a protective mask from a few pieces of string and a headscarf. I wore the invention on the flight from Bilbao to Paris, and it would stay on until I reached that waterlogged, Irish soil.It was in the bathrooms of Charles De Gaulle Airport, Paris, that I was given the facilities to wash my hands properly for the first time since I’d left the bathroom in my own apartment that morning.Paris was different. In Paris, and on the flight from there to Dublin, if you so much as cleared your throat, people looked at you. In Spain, you could be spluttering blood and they wouldn’t bat an eye.Three, quickly identified passengers on the flight from Paris to Dublin coughed throughout the entire flight. The rest of us spent the journey looking back and forth between them, holding our breath.There was a mixture of passengers on that last flight. Many students who had been living away, some Americans trying to get home via our little isle. I overheard one Irish couple explaining how they’d been living in Tunisia for years. This would be their first trip home.Landing in Dublin airport after being away for a while, it resembles the feeling of being hugged by someone you love.Ireland, as a country, is really just a big hug of a place. The third tears of the day would be the ones I had when the man at immigration said, in a thick North Dublin accent, “Welcome home.”Coming through arrivals, there were hundreds waiting to collect loved ones. Like Christmas. Unlike Christmas, however, there was a stern look of fear on each and every face that waited. Everyone, genuinely, was standing metres away from one another.It’s just as well arriving in Dublin felt hug-like, as my own Mam was anxious to embrace me when we met. Coming from Spain, especially La Rioja, I’d need to self-isolate for fourteen days.I gave my dog a squeeze when we arrived home, all the same.Portlaoise, I say with all truth in my heart, had never looked so good.SEE ALSO – Isabel Dwyer: How Coronavirus outbreak crippled Spain and left the country on lockdown Electric Picnic last_img read more

Coronavirus: Five new deaths and 15 new cases as doubts that all students will return to school raised

first_img News WhatsApp Electric Picnic Facebook Home News Coronavirus: Five new deaths and 15 new cases as doubts that all… News Facebook Pinterest RELATED ARTICLESMORE FROM AUTHOR Previous articleNo place for Stanley as Sinn Fein announce new frontbenchNext articleMoment in Time: Cuisle Centre honours the great Mary Ramsbottom in 2008 Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. Twitter Electric Picnic Pinterest Electric Picnic organisers release statement following confirmation of new festival date Twitter TAGSCoronavirusCovid-19 1,738 people have now died from Coronavirus in Ireland – with five new deaths reported today.While there has been a total of 15 new cases of Coronavirus have been diagnosed in Ireland today.That means there is now a total of 25,489 confirmed cases of COVID-19 in Ireland.Dr. Tony Holohan, Chief Medical Officer, Department of Health, said; “What has been a collective and effective national effort to suppress COVID-19 in Ireland, now also becomes an individual mission.“Every person must risk assess their own environments, make appropriate decisions about where they will go and who they will meet, and how they can ensure their safety and the safety of those around them.“Continue to follow public health advice, understand the risks of your actions and environments and stay safe.”Dr. Ronan Glynn, Deputy Chief Medical Officer, Department of Health, said; “60% of all COVID-19 cases have been reported in the past month. The transmission of the virus is accelerating globally.“In order to limit the potential for a resurgence of the disease in Ireland, we all must continue to follow public health advice and take responsibility for our individual actions.”Professor Philip Nolan, Chair of the NPHET Irish Epidemiological Modelling Advisory Group, said; “The reproductive number is now estimated to be closer to 1 than it has been in recent weeks. The R number is easily influenced by small changes to the transmission of the virus.“We have noticed an increase in the number of cases towards the end of last week. It is a trend that NPHET will continue to monitor closely.”Dr. Vida Hamilton, National Clinical Advisor and Group Lead, Acute Operations, HSE; “Due to the good practices of the public our ICU’s were not overwhelmed. Although they were busy, every patient got the care they deserved.“Some of us may have witnessed the reality of the frontlines in our hospitals on recent television documentaries. We should not lose sight of what is at risk and how fragile our systems are in the face of this pandemic. Please continue to follow public health advice.”Doubts raised all students will return in SeptemberSocial distancing requirements for those from 3rd class up make it difficult to see how all students will return to school – so say post-primary teacher union leaders.Their comments at a meeting of the Oireachtas Covid- 19 committee strengthens doubts about the hoped for a full-return to schools in late August/September.Association of Secondary Teachers’ Ireland (ASTI) general secretary Kieran Christie said their view was that the public health advice published yesterday was “such that many schools will not be fit to go back on full time basis for all students.” He said they would be back on a restricted basis.See Full Report HereImportant information Symptoms of Covid-19 include:CoughShortness of breathFeverBreathing difficulties.Further resources:The HSE: Official advice on the coronavirus in Ireland. This is being updated based on the number of confirmed cases and how the virus spreads in Ireland.The Department of Foreign Affairs: Official advice on where to avoid travelling to. Also a resource for those who are abroad.The World Health Organization (WHO): The UN agency on global public health publishes statements and daily situation reports based on the latest data.European Centre for Disease Prevention and Control (ECDC): The EU agency on the number of cases, deaths and how it’s spreading in Europe.The Johns Hopkins University map: A heat map of the confirmed cases across the world.A helpline for older people who are concerned about the coronavirus has been launched by Alone. The number is 0818 222 024, and it’s open Monday to Friday, 8am-8pm.SEE ALSO – An open letter from LaoisToday: Think local, support local and #LoveLaois as businesses open their doors again Coronavirus: Five new deaths and 15 new cases as doubts that all students will return to school raised Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival WhatsApp Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role By Alan Hartnett – 2nd July 2020 last_img read more

Poor communication hampering insurance sales

first_img Hearsay Systems and Salesforce cement partnership Sun Life Financial buying Pinnacle Care International Related news Megan Harman Keywords Life insurance industry,  Client communications Share this article and your comments with peers on social media “[There’s] this tension between the insurance industry’s intent, and a consumer’s perception of what that intent is,” said Uriarte. “The industry means well. Your intentions are noble, and the product is fundamentally about protecting your loved ones…but what consumers are actually feeling are things like distrust, intimidation, negativity, confusion.” This disconnect is having a negative impact on sales, according to Uriarte. The research by Maddock Douglas shows that even among individuals who have actively researched insurance with the intension of purchasing a policy in the past year or two, a high proportion did not ultimately make that purchase. A key reason is that consumers feel confused by the information they’re getting from the industry, Uriarte said. The research shows that 84% of consumers do their own research when shopping for insurance, and 45% compare this task to trying to navigate a maze. Many of the individuals surveyed said they find insurance brochures and marketing materials unnecessarily complex and convoluted. Furthermore, 72% of consumers said they believe life insurance products don’t have to sound so complicated. “We’re not making it easy,” Uriarte said, noting that most consumers don’t understand common industry terms such as underwriting, living benefits and riders. By communicating in a clearer and more authentic way, she said advisors and insurance companies could potentially drive more sales. “I think there’s a huge opportunity to innovate in and around language, and the words that we use, and how we communicate to consumers,” Uriarte said. “The more we’re able to move these perceptions, the more we’re able to engage a consumer, the more likely we will be to trigger a purchase interest.” Uriarte defines authentic communication as having the following characteristics: easy to understand; down to earth; memorable; positive; credible; and relevant. Relevancy is likely the most important element of authentic communication, Uriarte said. “Consumers are really expecting you to know them, as individuals,” she said. “This is all about feeling like a company understands or knows them.” The industry has considerable room for improvement in this area, as Maddock Douglas’s research shows that few consumers find the insurance industry’s advertising and communication relevant to them. Nearly half of the members of generation Y surveyed said they believe the industry is targeting someone much older, whereas nearly half of the baby boomers surveyed said they feel as though the industry is targeting someone much younger. “There is a total disconnect,” Uriarte said. She urges the industry to communicate with clients in a way that demonstrates a thorough understanding of their individual needs. The insurance industry must do a better job of engaging clients by communicating with them in an authentic way, according to Luisa Uriarte, executive vice president and partner with Elmhurst, IL.-based consulting firm Maddock Douglas, Inc. Speaking at the LIMRA and LOMA Canada Annual Conference in Toronto on Tuesday, Uriarte presented the results of in-depth research study conducted by Maddock Douglas, which reveals a disconnect in the communication between the insurance industry and the public. Work-from-home risks for advisors Facebook LinkedIn Twitterlast_img read more

Investment scams are a spreading scourge: ASIC

first_img Related news Facebook LinkedIn Twitter Keywords Pandemics,  Coronavirus,  Investment scamsCompanies Australian Securities and Investments Commission James Langton Don’t believe the hype: BCSC proposes new rules for stock promoters The massive economic impact of the Covid-19 outbreak is creating a “perfect storm” for investment fraudsters, warns the Australian Securities and Investments Commission (ASIC).The ASIC reported that, during the pandemic, it has seen a 20% increase in reports of investment scams, compared with the same period last year. Block letters spelling fraud, with magnifying glass andreypopov/123RF Singapore’s financial regulator invests in innovation The increase in fraud attempts follows a year in which losses to scams rose by 30%, according to a report from the Australian Competition and Consumer Commission (ACCC).That report noted that “financial losses to scams are grossly understated,” as approximately one-third of victims don’t report their losses to authorities.The problem is set to intensify as investment scams appear to be on the upswing.“The start of 2020 has seen an explosion of scams exploiting the bushfire crisis in Australia as well as the global Covid-19 pandemic,” the ACCC said in its report.The ASIC said that the economic uncertainty created by the pandemic has increased investors’ susceptibility to scams, and it’s particularly worried about frauds involving cryptoassets.“We are seeing a spike in reports of scams related to fake cryptoassets (or cryptocurrencies), term deposits, investments and scams that start via romance sites,” said ASIC executive director for assessment and intelligence Warren Day.“Most cryptoasset investment opportunities reported to ASIC appear to be outright scams, and there is no actual underlying investment,” Day said.The regulator also noted that fraudsters remain difficult to catch, and recovering money lost to investment scams is challenging, particularly when scammers are offshore. Share this article and your comments with peers on social media Regulators aim to root out pandemic-driven liquidity issueslast_img read more

Horizons launches unhedged USD version of liquid alt bond fund

first_imgHand holding smartphone with launching rocket on sky background. Startup and technology concept 123RF Facebook LinkedIn Twitter Franklin Templeton launches new real asset fund Horizons ETFs Management (Canada) Inc. has launched an unhedged U.S.-dollar series of its Tactical Absolute Return Bond ETF.The ETF, which is subadvised by DMAT Capital Management, can take long and short positions using leverage of up to 300% in North American and global debt instruments, including government debt, corporate debt, preferred shares and fixed income derivatives. Keywords ETFs,  Alternative investment funds,  Fixed-income funds IE Staff Related news Share this article and your comments with peers on social media An inhospitable environment for bond ETFs The fund’s investment objective is to provide positive absolute returns with low volatility over a market cycle regardless of market conditions or general market direction. Under normal market conditions, the fund is not expected to make any distributions, Horizons said.Horizons launched two other series of the fund last December. Since then, the firm has “seen considerable interest across the investor spectrum for a U.S. dollar version that can also deliver absolute returns in what has been a challenging fixed income environment to navigate using traditional strategies,” said Steve Hawkins, president and CEO of Horizons, in a release. BMO InvestorLine launches commission-free trading for ETFslast_img read more

US$2.1-million 2020 Toyota Supra sale highlights Barrett-Jackson auctions

first_img advertisement The sale of another Ford, VIN 001 of the 2019 GT Heritage Edition supercar, also contributed to the charity fundraising, selling for US$2.5 million when it went under the hammer Saturday; as did the sale of a collection of four “Bumblebee” Chevrolet Camaros from the Transformers films, which garnered US$525,000.Created with Raphaël 2.1.2Created with Raphaël 2.1.2The first 2020 Ford Mustang Shelby GT500 crossing the auction block at Barrett-Jackson The charity auction of the first 2020 Toyota Supra this past weekend shocked many when it netted US$2.1 million at Barrett-Jackson’s annual event in Scottsdale, Arizona, setting a record for highest price paid for a Japanese car at auction.Supra VIN #20201 was not the most expensive car to cross the block at Barrett-Jackson, or in Scottsdale generally, the weekend of January 19, but stood out as a highlight.The auction’s CEO, Craig Jackson, himself doled out US$1.1 million the day before at another VIN-001 car auction, that for the first 2020 Ford Mustang Shelby GT500—the sale’s proceeds also went to charity. We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. Trending in Canada Trending Videos Created with Raphaël 2.1.2Created with Raphaël 2.1.2 The first 2020 Toyota Supra crossing the auction block at Barrett-Jackson  Handout / Toyota Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” Handout / Barrett-Jackson PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca RELATED TAGSNon-LuxuryNew VehiclesNon-Luxury COMMENTSSHARE YOUR THOUGHTS ‹ Previous Next › Altogether, Barrett-Jackson’s 16 charity car lots raised a total US$9.6 million, more than it’s ever raised at a single auction in its 48-year history. The Arizona-headquartered auction house has collected more than US$114 million for charity to-date. The Rolls-Royce Boat Tail may be the most expensive new car ever See More Videoslast_img read more