Kingsford Terrace luxury retirement community in Corinda is getting ready to start construction on stage two.STAGE two of the Kingsford Terrace retirement village in Corinda is gearing up for construction to start on the 3ha site.Queensland construction company McNab has been awarded the second stage and is working with O’Neill Architecture to finalise design works and get ready to make the first dig in the coming months.McNab construction manager Mark Jewell said the company was seeing a growing need for quality retirement living and aged care facilities throughout Brisbane.“Residents moving into high quality retirement living are typically seeking to downsize from the family home and free up time and effort to pursue personal interests rather than maintain a large home and yard,” Mr Jewell said.“We can see why retirement projects like this are so popular with residents, as they get the very best when it comes to apartment design and quality, community and leisure facilities, as well as a safe and caring environment.”More from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours agoKingsford Terrace retirement community in CorindaBeing developed by BlueSky Private Real Estate and operated by Aura, stage two will include 53 luxury studio, two and three-bedroom independent living apartments, across five storeys.Mr Jewell said McNab were delivering more than just a building to the project.“Our role is more than just delivering a high quality building on time, it’s also about ensuring the handover and moving-in process for residents is a happy and relaxed experience,” he said.Kingsford Terrace’s stage one apartments “Litchfield” are available now with the second stage “Duporth” due for completion mid next year.Along with the second stag, construction will also start on the community facilities to include a heated pool, gym, beauty and hair salon and allied health.Located in Corinda, the community is close to shops, entertainment, medical services and sporting clubs.
Henderson Global Investors has launched a cash-flow driven investment strategy in response to the growing number of defined benefit (DB) pension schemes turning cash-flow negative.The asset manager announced the launch yesterday, saying that it aims to help DB pension schemes meet their shorter-term (5-10 years) cash-flow requirements, “while avoiding selling down assets at inappropriate times or holding high cash balances”.Henderson said the strategy could work alongside a liability-driven investment (LDI) mandate.Colin Fleury, head of secured credit at Henderson, said: “By structuring a high yielding credit portfolio to redeem at regular intervals, it is possible to generate a reliable stream of cash-flow at an elevated yield. “Fixed income asset classes, such as asset-backed securities, high yield [bonds], and secured loans, alongside more traditional investment grade bonds, can balance the need for yield with cash-flow certainty.”He noted that different schemes have different needs and that the strategy “can be structured over varying time horizons, with varying distributions”.The UK’s Office for National Statistics recently released data that has been said suggests UK pension funds could be reaching a “tipping point” into cash-flow negative status.However, Tim Giles, head of investment consulting at Aon Hewitt, said pension schemes becoming cash-flow negative was “a bit of a red herring” for assessing the appropriateness of a cash-flow driven investment strategy.“Total return is key, not how much cash it’s generating,” said Giles, arguing that a pension scheme’s funding target will increase if it has cash-flow matching investments and these deliver lower returns.Cash-flow driven investment has always been important for pension schemes, he added. They have been implementing this approach for a number of years and will continue to do so.Such a strategy can be “a sensible solution” for some schemes, Giles said, but trustees should “avoid being drawn into different types of products” and instead become clear on what their “end game” looks like.“Increasingly, trustees are doing that,” he said. read more
UK local authority funds will be exempt from new rules governing the appointment and monitoring of fiduciary managers and investment consultants, according to a consultation published yesterday.The Department for Work and Pensions (DWP) has launched a consultation on the implementation of rules proposed by the Competition and Markets Authority (CMA) on the back of its market investigation into the fiduciary management and investment consulting sectors.Consultancy Hymans Robertson last month called for clarity on the application of the new rules to the UK’s £346bn (€378bn) Local Government Pension Scheme (LGPS) system. The CMA’s ruling became law on 10 June, but the wording was ambiguous as to its application to LGPS funds. They had been exempt throughout the CMA’s 15-month investigation.In the consultation published yesterday, the DWP stated that the new regulations did not apply to the LGPS. It specified that the requirement to set strategic objectives for investment consultants would not apply “as regulations and guidance in relation to the LGPS are a matter for [the] Ministry of Housing, Communities and Local Government”. The clarification also means that LGPS funds will not have to review or retender their relationships with the asset pools they have created since 2015.In a briefing note on the CMA’s order earlier this month, the LGPS Advisory Board had said the ruling potentially had significant consequences for LGPS pools “if their pool companies were caught by the definition of fiduciary management service providers and cannot use the exclusion for pension scheme owned companies”.Other exemptions, tooThe DWP has also exempted other types of pension fund from the regulation, including any scheme sponsored by the provider of fiduciary management or investment consulting services, and master trusts for which a fiduciary manager or investment consultant is the appointed scheme strategist or scheme funder.“We agree that it would be impractical in these circumstances to expect the scheme trustees to carry out a competitive tender for fiduciary management when they would have a clear and legitimate preference to use the services of the sponsoring employer,” the DWP said.“However, we believe it is reasonable for the trustee to set their investment consultant objectives and monitor performance against them, regardless of whether the investment consultant is connected with the sponsoring employer of the scheme. The member can suffer detriment if this is not done.”Under the new rules, schemes outsourcing 20% or more of assets to a fiduciary manager are required to conduct a competitive tender for the mandate, including at least three providers. Schemes that have already employed a fiduciary manager without a tender must do so within the next five years.In addition, the regulations oblige fiduciary providers and consultants to improve the transparency of performance and cost reporting, while pension scheme trustees are required to set strategic objectives for their investment consultants.The consultation is open to responses and feedback until 2 September. read more
Lancashire-headquartered Cuadrilla has completed drilling the UK’s second horizontal shale gas well at its exploration site at Preston New Road in Lancashire.This second horizontal well, drilled through the Upper Bowland shale at an approximate depth of 2,100 meters below the surface, extends laterally for some 750 meters through the shale gas reservoir.The first horizontal well was completed by Cuadrilla in April through the Lower Bowland shale rock at approximately 2,300m below the surface and extends laterally for some 800 meters.A vertical pilot well was drilled last year to a depth of over 2,700 meters through the Upper and Lower Bowland shales and the data gathered from this pilot well informed the decisions in locating these first two horizontal wells.Francis Egan, CEO of Cuadrilla, said, “subject to hydraulic fracturing consent being granted by the government we plan to fracture the shale rock around these wells over the coming months and test the flow rates of natural gas from the shale.”Cuadrilla’s objective is to demonstrate that natural gas will flow from the shale in commercially viable quantities, Egan said.Cuadrilla will now start to dismantle the drilling rig, in readiness for its return to mainland Europe, and this is expected to take a few weeks. The site team will then start to prepare for the hydraulic fracturing phase with much of the required equipment already on site.Following hydraulic fracturing of the first two horizontal wells, Cuadrilla will run an initial flow test of both wells for approximately six months. read more
Japanese energy trader JERA has entered into a time charter party for an LNG carrier with a ship owning company affiliated with the Angelicoussis Group.The 12-year charter, inked by JERA’s subsidiary LNG Marine Transport Limited, is set to start between October and December 2021, and the vessel will be utilized principally for the transportation of LNG from LNG projects in Asia and Oceania.The construction of the 174,000cbm membrane tank vessel is set to start in 2020 at Daewoo Shipbuilding & Marine Engineering Co., Ltd.DSME is the Greek owner’s favorite shipbuilder, having secured contracts for over 100 ships over the years.Earlier this month, Maran Gas booked a construction of LNG carrier for the group bringing the ordering tally for LNG carrier newbuilds to seven ships ordered this year alone.“JERA plans to increase its LNG fleet to 25 vessels by 2025 as its ratio of FOB contracts grows. Going forward, JERA will continue to actively develop and optimize its fuel transportation businesses to achieve a stable, competitive, and flexible fuel portfolio,” JERA said.The charter was announced just one day before JERA signed a Memorandum of Understanding (MOU) with PetroChina International Company Limited (PCI), a subsidiary of China National Petroleum Corporation, on cooperation in the LNG business.Under the MOU, JERA and PCI will discuss opportunities to cooperate in LNG bunkering, LNG shipping optimization, joint sale and procurement of LNG and generating new demand for LNG, including overseas LNG value chain investments.“As LNG demand in China increases, the presence of Chinese energy companies in the LNG industry is growing year by year. JERA believes that strengthening its cooperation with PCI, a leading energy company in China, will not only expand business opportunities for both JERA and PCI but also contribute to the healthy development of the LNG industry,” JERA said. read more
RelatedPosts Gundogan tests positive for coronavirus Derby County want Jordon Ibe Ighalo: My best moment as ‘Red Devil’ Bournemouth vs. Man UVenue:Vitality StadiumKick off: 12:30PMManchester United will look to make it four away wins on the bounce when they travel south to face Bournemouth in the Premier League this afternoon.Ole Gunnar Solskjaer’s men have enjoyed a desperately needed resurgence since the international break, while Bournemouth will be hoping to rediscover some goalscoring form in front of their own supporters.Having failed to win an away game in almost half a year, United now have three wins on the road in the space of six days.Ahead of the October international break, United had won just two games in normal time since April and were two points above the relegation zone.However, a stellar performance during a 1-1 draw with Liverpool – the first time Jurgen Klopp’s side failed to win a league game in 18 outings – has served as the catalyst for a resurgence in attitude and style on the pitch.Many accused Solskjaer of lacking the appropriate tactical acumen to cope with a role of such high magnitude, often attacking the Norwegian’s rigid 4-2-3-1 system that seemed to take his attacking players nowhere.His response since that 1-0 defeat to Newcastle United, however, serves as a strong sign of hope; the switch to a 3-4-1-2 system against Liverpool, for example, prevented the league leaders from accessing their usual passing lanes and left them looking rather lost until the final 20 minutes.Moreover, the decision to adopt a more fluid 4-2-3-1 against Norwich, with Marcus Rashford and Anthony Martial interchanging up front, made a big difference to United’s attacking potential.Against Chelsea on Wednesday night, moreover, the home side had started to dominate proceedings after Michy Batshuayi’s second half equaliser, prompting Solskjaer to change to four at the back and introduce two energetic substitutes in Andreas Pereira and Martial – a move that changed the shape and feel of the game, laying the platform for Rashford to score the winner through a sublime free kick.That said, United will know that the task they face is a completely different one against a Bournemouth side that will not give them one inch to play with.On the other hand, Eddie Howe will be pleased with the position that Bournemouth find themselves in after 10 Premier League games, with the Cherries sitting in ninth.The hardest thing for any recently-promoted side is to develop a base level of performance that can be exhibited every week, and this is exactly what Bournemouth have slowly but surely done since 2015.Those teams who fall by the wayside – from Blackpool in 2011 to Fulham last season – can often pull excellent performances out of the bag but ultimately possess an acute air of unpredictability about them, which often leads to the snowballing of bad results.Through a ruthless and consistent application of an adapted 4-4-2 system, drilled into a core group of players over several years, Howe can count on his team to give a certain level of performance that will, at the very least, take them to 40 points over 38 games. Bournemouth possible XI: Ramsdale, Smith, S. Cook, Ake, Rico, L. Cook, Billing, H. Wilson, Fraser, C. Wilson, King.Man U possible XI: De Gea, Wan-Bissaka, Maguire, Lindelof, Young, McTominay, Fred, Pereira, James, Martial, Rashford.Tags: BournemouthEPLManchester UnitedOle Gunnar Solskjaer read more
Sunderland head coach Gus Poyet is desperate for a transfer breakthrough after growing frustrated with a recent lack of new arrivals. He told the Sunderland Echo: “I’m waiting and waiting, which is not nice. You’re expecting to do a couple of deals, but they’re not happening. “People say ‘don’t be anxious or nervous’. I think there will be at least one in by tomorrow, and I hope at the weekend we can have three in. “But the word I’m saying is ‘hope’. It’s a matter of time, but as the days go past, that becomes difficult. “We are waiting, we are desperate to do something in the next few days because we are going to Portugal and we need to have as many players as possible in place by the time we get there.” The pursuits of Borini and Alonso, who had loan spells at the Stadium of Light last season, have proved particularly frustrating with Borini’s agent having suggested he is happy to fight for his place at Liverpool and Fiorentina yet to sanction a switch for full-back Alonso. Asked specifically about Borini, Poyet said: “I think we need to be honest. The more time that goes past, it looks to me like we have less chance. “Some people think the opposite – the more players Liverpool sign, then there is more chance. Let’s see who is right and wrong. “We’ve got specific targets and it’s taking a little bit too long.” Press Association Sporting director Lee Congerton is working hard behind the scenes to add to the early-summer captures of Costel Pantilimon, Billy Jones and Jordi Gomez, but his efforts to land Fabio Borini, Marcos Alonso and a series of other targets since are yet to bear fruit. Poyet is hopeful of having another signing on board before he and his players head for their pre-season training camp in Portugal on Friday, but he admits the wait is causing him a headache. read more
For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. highlights New Delhi: Mitchell Marsh was a surprise inclusion in the Australian cricket team for the fifth and final Ashes Test against England at The Oval. Marsh replaced all-rounder Travis Head who had struggled throughout the series. Many Australian fans were hoping that he would have an impact similar to Ben Stokes who had kept England alive in the series with his magnificent all-round performance. When Australia won the toss and chose to bowl on a placid Oval wicket, there were plenty of questions raised on Tim Paine’s decision. However, Marsh ensured that Paine’s decision would not be questioned as he put up a fabulous performance of bowling. Pat Cummins had removed Joe Denly cheaply but Rory Burns and Joe Root stitched a solid stand. Josh Hazlewood got the big wicket of Burns for 47. Stokes, who had come into this match under a fitness cloud and was unable to bowl, was undone by a poor shot as he miscued a short ball to be caught at point. When Cummins got the big wicket of Joe Root for 57, the stage was set for Marsh to run through the England middle order. Marsh set-up Jonny Bairstow brilliantly. After three outswingers, Marsh trapped Bairstow LBW with a delivery that swung back in. Marsh added his third wicket when he had Sam Curran driving at a full and wide ball outside off only for the outside edge to fly straight to Steve Smith at cover. However, the ball of the day was bowled by Marsh to Chris Woakes as he trapped the batsman plumb in front with a yorker that swung away late. Also Read | Mitchell Marsh loses Cricket Australia contract ahead of World Cup 2019After an attacking knock by Jos Buttler, England had hopes of reaching 300 but Cummins sent Buttler back for 70 and Marsh ended up with his maiden five-wicket haul by dismissing Jack Leach for 21 to end with figures of 18.2-4-46-5. Also Read | Mitchell Marsh booed by Melbourne crowd in Boxing Day Test vs IndiaIn response, David Warner endured yet another failure thanks to a DRS howler while Jofra Archer removed Marcus Harris. However, Marnus Labuschagne and Steve Smith steadied the innings and took Australia to a relatively decent position at lunch. Australia have already retained the Ashes thanks to victory in the fourth Test at Old Trafford. Mitchell Marsh took his first five-wicket haul in Tests.Marsh has a five-wicket haul in ODIs as well.Australia have retained the Ashes following their win in Old Trafford. read more
Marc Márquez has broken arm after MotoGP crashJEREZ DE LA FRONTERA, Spain (AP) — Six-time defending MotoGP champion Marc Márquez has broken his right arm in a crash at the Spanish Grand Prix. His Honda team says Márquez is expected to undergo surgery on Tuesday in Barcelona. The Spaniard went down hard with four laps to go and had to be carried off the track on a stretcher. The team says Márquez’s “recovery time is yet unknown.”The race was won by Fabio Quartararo, for his maiden victory, as MotoGP got its season underway amid the coronavirus pandemic.The 21-year-old Quartararo, who started from pole position after a record lap, became the first Frenchman to win in MotoGP since Regis Laconi in 1999. Canada’s government says it’s not safe for players to travel back and forth from the United States, one of the countries hit hardest by the coronavirus pandemic.The team’s alternate sites for home games include its training facility in Dunedin, Florida, which is among the states that are virus hotspots, as well as Sahlen Field in Buffalo, New York. It’s home to Toronto’s Triple-A affiliate and just across the Niagara River from Canada.The Blue Jays are scheduled to start the season July 24 at Tampa Bay. Their home opener was set for five days later against Washington.Blue Jays president Mark Shapiro says the team has spent more time examining Buffalo in recent days but that the stadium has infrastructure challenges. A lack of space in the clubhouse makes social distancing difficult, but Shapiro said some players could have their lockers set up in suites.HUNGARIAN GRAND PRIX Update on the latest sports Share This StoryFacebookTwitteremailPrintLinkedinRedditVIRUS OUTBREAK-MLB-BLUE JAYSBlue Jays looking at alternate sites for home gamesTORONTO (AP) — The Toronto Blue Jays are looking at alternate sites for their home games, now that Canadian officials have denied their request to play at Rogers Centre in Toronto. Associated Press July 19, 2020 Hamilton wins 8th Hungarian GP to equal Schumacher F1 recordBUDAPEST, Hungary (AP) — Formula One champion Lewis Hamilton has won the Hungarian Grand Prix for the eighth time to equal Michael Schumacher’s single-venue record and take the championship lead. Hamilton’s latest victory from pole position was as comfortable as the nearly 9-second margin over Max Verstappen suggested. The British driver’s 86th GP win moved him just five behind Schumacher’s F1 record of 91. Schumacher won the French GP eight times. Hamilton’s first success with Mercedes also came at the Hungaroring in 2013. He took a record-extending 90th career pole to match Schumacher’s record for seven poles in Hungary. His Mercedes teammate Valtteri Bottas finished third to relinquish the championship lead.MOTOGP-MARQUEZ INJURED read more
United have lost four games in a row, and welcome Chelsea to Old Trafford in the Premier League this evening. According to The Times, Van Gaal is still considering resigning but Ed Woodward has informed the Dutchman he still has the backing of the board. That game at Old Trafford kicks off at 5.30.