Italian roundup: Cassa Ragionieri, Cassa Forense, Covip figures

first_imgPaolo Saltarelli, whose tenure as chairman of the first-pillar fund ended in May this year, was pre-emptively jailed this week after Guardia di Finanza, the Italian financial crime police, were told by another suspect that he had received a €1m kickback.Andrea Toschi, former chief executive at Adenium Sgr, Sopaf’s asset management arm, told investigators Saltarelli had been “rewarded” for persuading the fund’s board to appoint Adenium as manager of a portion of the assets.CNPR’s current chairman, Luigi Pagliuca, said in a statement: “I feel humanly close to my colleague Paolo Saltarelli, and I hope he will be able to show he is completely unrelated to this matter.”He added that CNPR’s new governance structure immediately put “enhanced transparency towards trustees and members” as its primary objective.The investigation will establish whether Adenium subtracted CNPR the €52m by shifting the funds to tax havens and then back to the suspects’ bank accounts.Earlier this year, CNPR had said that, in 2012, its board tried to block part of Sopaf’s activities, after it had emerged the company was in distress.  Prosecutors also identified journalists’ scheme INPGI and doctors’ scheme Enpam as potential victims of Sopaf’s fraudulent activities.Enpam said yesterday that it never appointed Adenium or Sopaf to manage any of the fund’s assets.However, in 2009, Enpam bought from Sopaf a €100m stake in Fondo Immobili Pubblici (FIP), a real estate fund backed by the Italian government, in an investment the fund says has returned 9% annually so far.Prosecutors are also investigating this transaction, saying Sopaf made an illicit profit from the sale of the stakes in FIP to Enpam and INPGI.In other news, a number of institutional investors including the first-pillar pension fund for Italian lawyers acquired a 6%, €313.5m stake in a vehicle controlling Italian gas transmission group Snam and power grid company Terna.State Grid Corporation of China (SGCC) was also among those acquiring a minority stake in the vehicle.The lawyers’ fund, Cassa Forense, invested €140m to own just under half of the 6% stake.Elsewhere, Italian pension regulator Covip released figures showing that, during the first nine months of 2014, the returns of Italian second and third-pillar funds beat the revaluation of the TFR (trattamento di fine rapporto), or employee severance pay.Due to low consumer price inflation, the TFR was uprated by 1% over the period.In comparison, second-pillar industry funds returned 5.8%, while open pension funds returned 5.9% and third-pillar plans returned 5.1%.However, the data does not take into account the higher tax rate on returns introduced from 1 July this year, when the rate was raised from 11% to 11.5%.The 2015 Budget law currently under parliamentary discussion foresees a further spike in taxation to 20%.By the same proposed measure, the tax rate on TFR, which is revalued annually by a fixed 1.5% plus 75% of inflation, will be raised from the current 11% to 17%. The former chairman of the Italian first-pillar pension fund for accountants, Casa di Previdenza e Assistenza dei Ragionieri (CNPR), has been arrested by Italian authorities and is under investigation for bribery.The arrest is part of a wider probe by Italian prosecutors involving Sopaf, an investment company with a track record in the Italian institutional investment sector.Prosecutors are trying to determine whether Sopaf embezzled €52m of CNPR’s assets.Sopaf’s owners, high-profile financiers Magnoni brothers, along with other external partners of the company, were arrested earlier this year as part of the investigation.last_img read more

Get Well!

first_imgTwo people connected with the Ripley County Basketball Hall of Fame are going through health problems right now.  Donna Hoeing, a member of the Hall and also one of its board members, is being treated for a bout with cancer.  Karen Rohlfing, the wife of board member Nick Rohlfing, is also battling cancer.  I understand both of these ladies are on the way to recovery, but I am sure that they would appreciate you thinking of them in your prayers.  Keep up the fight, ladies!last_img

Free pre-K just expands statewide

first_imgStatewide—Free pre-K just expanded statewide in Indiana, and spots are currently open. A change in state law is allowing more Hoosier families to do the same. State lawmakers decided to expand On My Way Pre-K beyond a handful of counties.“On My Way Pre-K is a program to make sure children have access to high-quality prekindergarten services,” Maureen Weber, President and CEO of Early Learning IndianaNow, all of Indiana’s 92 counties can be part of the program. Early Learning Indiana currently has the program at nine locations in Marion County. They have more than 100 spots open right now.“Now is the absolutely perfect time to be applying to those services,” Weber explained. “We know that children that have access to high-quality pre-K will show up more ready for kindergarten.”The program is income-based, and free if you qualify. Your child must be 4 years old by August 1. “They meet an income requirement of less than 127% of the federal poverty level,” Weber said. “Then that family has a service need because the family members are either working, attending school, or in job training.”Indiana’s Family and Social Services Administration has an application if you’d like to apply for free pre-K anywhere in the statelast_img read more

ISDH reports 39 confirmed cases

first_imgStatewide—The Indiana State Department of Health reported nine new positive cases of COVID-19 as of midnight today, bringing the count to 39 positive cases through ISDH, the Centers for Disease Control and Prevention (CDC) and private laboratories. Two Hoosiers have died from Johnson and Marion Counties.                                    The new cases involve residents of Clark (1), Fayette (1), Hamilton (1), Hendricks (1), Jennings (1), Lake (1), Madison (1) and Marion (2) counties. The list of counties with cases is included in the ISDH COVID-19 dashboard, which will be updated daily at 10 a.m. Cases are listed by the county of residence.last_img read more

O’Driscoll backs new caps to shine

first_img Press Association Brian O’Driscoll expects Ireland’s new caps Paddy Jackson and Luke Marshall to thrive in Sunday’s RBS 6 Nations clash with Scotland at Murrayfield. The 21-year-old Ulster three-quarters impressed during last autumn’s non-cap international against Fiji and have been called up by coach Declan Kidney to replace the injured Jonathan Sexton and Gordon D’Arcy. It is a bold move by Kidney, but O’Driscoll is backing his midfield partners to seize their opportunity. “The proof will be in the pudding when they get out there, but they’re confident guys,” 34-year-old O’Driscoll said. “I certainly don’t envisage either of them freezing. They’ve played in big games.” center_img O’Driscoll added: “They’re going to be big game players and lots of players have been dropped into the deep end of Six Nations rugby and survived. I’d imagine they’ll survive as well with no problems whatsoever.” Jackson and Marshall were just seven when O’Driscoll made his Ireland debut in 1999 and, even though he has been relieved of the captaincy, the Leinster centre knows he still has a crucial role to play in leadership terms. “I’ll try and help the guys along, offering information to Paddy and Luke,” O’Driscoll said. “Sometimes when you come into the set-up it’s hard to be vocal and start dominating things, but young need that from your fly-half. “The more accustomed they are to being in that situation, the more confident they will be when it comes to ordering people around. I’ll try to take a little bit of pressure off them this weekend.” Marshall revealed earlier this week that he was nine when he started watching O’Driscoll, the veteran of three Lions tours and his new centre partner. “Luke probably didn’t realise what a massive insult to me that was! It’s crazy to think that you get to play with guys who were watching you at that young age,” O’Driscoll said. “That’s the cycle of rugby – everyone moves on and different players get different opportunities for a variety of different reasons. “Gordon D’Arcy is out injured for the rest of the competition and that gives Luke the chance to lay down a marker and impress the coaches. I’ve been impressed with what I’ve seen from him. He’s a quiet, fairly unassuming lad who works hard and listens and that’s all you can ask for.” last_img read more

Ireland derail England hopes

first_img Jonathan Sexton inspired the reigning champions’ 10th successive victory by producing a masterclass in game management, while his half-back partner Conor Murray also flourished behind an Irish pack that played with furious intent throughout. The only surprise at half-time was that they led by just six points despite having been superior in every department, with Sexton directing operations with calm authority. And the manner in which they ratcheted up the intensity in the third quarter was reminiscent of New Zealand, with Sexton’s vision initiating a try for Robbie Henshaw that established a 19-3 lead. Inside centre Henshaw was named man of the match, but that accolade could easily have gone to Sexton who decorated his display with four penalties and a conversion. England were over-run for lengthy spells of the second half and apart from a characteristic fightback in the final quarter, there was little to applaud in a chastening afternoon. They had been out-thought and out-muscled in a loss that has worrying implications for their hopes of mounting a meaningful challenge at the World Cup and reduced their stirring victory over Wales in Cardiff three weeks ago to a distant memory. In contrast, Ireland have confirmed their position as the dominant force in European rugby and their coronation for a second year in succession surely awaits on March 21, with only Wales and Scotland capable of halting their march to a Grand Slam. The reputation of their head coach Joe Schmidt continues to soar and the Kiwi will have savoured this result and performance, having stated before the game that the 13th win of his 16 matches at the helm would be his most treasured achievement. Schmidt may have to plan for the final two rounds without his bulldozing openside Sean O’Brien, however, as the biggest match of the 2015 Six Nations inevitably witnessed a significant concussion incident. O’Brien was struck when tackled by Billy Vunipola, rising to his feet before lurching back over on to the turf as if drunk. Once regaining composure with the team doctor in attendance, he departed to bring his afternoon to an end. England collapsed to an alarming 19-9 defeat by Ireland as their pursuit of a first RBS 6 Nations title under Stuart Lancaster derailed spectacularly at the Aviva Stadium. England had been braced for an early onslaught and the reigning champions did not disappoint, with two Sexton penalties nudging them into a 6-0 lead with only eight minutes on the clock. Mere inches separated them from a try as they launched waves of attacks from a pair of five-metre scrums, but the visitors’ defence was strong. Luther Burrell carried hard as England bristled in response, finding reward in the form of a drop goal by George Ford, although the Bath fly-half then pulled a long-range penalty wide. Wing Simon Zebo plucked a bomb from the air despite being surrounded by white shirts, but Ireland suffered a setback with O’Brien’s removal from the game. A tense first half continued with the champions in the ascendency, employing their kicking game to good effect and winning the collisions. Burrell was dumped in his own 22 and Sexton sent opposite number Ford hurtling backwards in the tackle, but the Lions fly-half could only land one of the ensuing penalties. The pressure continued and Ireland began to expand their game, looking for width more often as England struggled to escape their 22 until smart thinking from Jack Nowell swept them out of danger. Brilliant work from Alex Goode, who collected the ball from behind his own posts and broke free, rescued England before Anthony Watson found space only to fling out a wild pass. Ireland’s execution during the passage of play that led to Henshaw’s try was a lesson in efficiency that would have made the All Blacks proud. Sexton capitalised on a turnover by chipping into the corner, Watson was collared and green shirts piled over at the ruck to win the ball back for a second time. Having pounded at the English defence, it became Murray’s turn to kick and with the ball hanging in the air Goode was out-jumped by Henshaw, who touched down with Sexton converting Two penalties by Ford gave England a glimmer of hope, but that was extinguished amid Ireland’s determination to keep their line intact as the Red Rose slumped to their first defeat of the Championship to leave their title hopes hanging by a thread. Press Associationlast_img read more

Cricket News Don’t require any further hearing, Laxman intimates ethics officer

first_imgNew Delhi: Former India star V V S Laxman has intimated the BCCI ethics officer that he doesn’t need any further hearing in the alleged conflict of interest case over his dual role as Sunrisers Hyderabad mentor and member of the board’s Cricket Advisory Committee. Justice D K Jain has now reserved his orders after the BCCI and complainant Sanjeev Gupta also stated that no further arguments are required.Laxman and Tendulkar had lengthy depositions before Jain and the next date of hearing is scheduled on May 20 when they could be represented by their lawyers. It is learnt that Laxman has made it clear that he has nothing more to add to his submissions including the written one. For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. Laxman, who had in his affidavit, categorically denied having any conflict has made it clear that he is ready to recuse from his post as CAC member if charges are proved.”VVS Laxman has handed over his written submissions and states that the matter be decided based on the material already on record and the written submissions filed today and that he would not need any further hearing in the matter,” BCCI’s website uploaded the ethics officer’s statement.It is learnt that Gupta and the BCCI “shall be at liberty to file any further submissions in response to the written submissions filed today, on behalf of Laxman, within 7 days from today”. last_img read more

Insurance Beats Lobi for First Win, Fortifies Team with Four Ghanaians

first_imgBendel Insurance Duro IkhazuagbeBendel Insurance FC’s veteran midfielder, Charles Omokaro, recorded the team’s first win in the Nigeria Professional Football League (NPFL) yesterday.After four matches in the Nigerian topflight with a meager three points to show out of possible 12, Omokaro’s 70th minute strike against Lobi Stars at the University of Benin Sports Ground made the difference yesterday. That win temporarily relieved the Edo Arsenal fans who have become restless with the three draws and one defeat resultsWith Insurance’s lift to the seventh spot in the Group A standings, things are beginning to look bright that coaches Monday Odigie and Baldwin Bazuaye may after all, know what they are doing with the team. For Lobi, Nigeria’s representatives in this year’s CAF Champions League who suffered two straight defeats in the continent and the domestic league within a space of three days, these are certainly not the best of time for the team.Moroccan side, Wydad Casablanca had last Saturday grabbed an away win at the Nnamdi Azikiwe Stadium in Enugu with a 2-1 scoreline. Coach Solomon Ogbeide had hoped that his trip to his birthplace would wipe his tears with a win in the domestic league but that turned out another bad day for the Makurdi team. Now, the heat is going to be on him to perform of be shown the exit.Interestingly, Insurance’s victory came on the day a legend of the Benin team, Leotis Boateng, led four players from Ghana into the Edo capital to help fortify the team.Although details of the players signed by Insurance have not been officially released, insiders at the team confided in THISDAY last night that the state government was doing everything possible to ensure that the club remains in the topflight.“After spending 11 years in the lower division, we don’t want Insurance experience life in the wilderness again. The Ghanaian players are going to add value to the team we are even hoping to qualify for the continent next year,” revealed the top official in Edo sports last night.Bendel Insurance drew their first game away in Sagamu to Remo Stars, drew at home with Kwara United, recorded another draw against Niger Tornadoes and lost away to Wikki Tourists. The 1-0 win against Lobi is the first maximum three points for the Benin team in the topflight.They are away to Katsina United at the Muhammadu Dikko Stadium in Katsina on Match-day seven.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Sharing goal for now, Anghel, Quinlan battle for starting spot

first_img Facebook Twitter Google+ Published on September 7, 2010 at 12:00 pm Commentscenter_img With the departure of Syracuse career saves leader Eliza Bennett-Hattan at the end of the 2009 season, the SU women’s soccer team was left with an empty net. Six games into the 2010 season, the net is still not inhabited by one sole starter. Two players are vying to become Bennett-Hattan’s replacement. The competition is ongoing between freshman Brittany Anghel and sophomore Erin Quinlan. ‘Obviously it’s been up in the air right now for whoever is going to come in and earn that spot and make it their own,’ SU assistant coach Katie Ely said. ‘Obviously when you lose a four-year starter, that spot is open for whoever wants it.’ With the two, the net is not solidified. But Orange head coach Phil Wheddon is not worried regarding his goalie by committee. Anghel and Quinlan have started games for Syracuse (1-3-2) early this season, creating the current uneasy decision-making process for Wheddon.AdvertisementThis is placeholder text ‘They’re both doing very well,’ Wheddon said. ‘They’ve made key saves when we needed them to make key saves. We’re still looking to see who’s going to win the race, if you will. But they’re both working very hard, and I’m very proud of their effort so far.’ At this point, Wheddon is debating whether or not to stick with his goalie platoon throughout the rest of the season. Wheddon does not appear ready to choose one goalie over the other. Anghel has been the only one to win a game, but also has a goal against average of 1.89, which is a point higher than Quinlan’s 0.9. Anghel struggled this weekend, giving up seven goals on 17 shots on goal against quality opponents Washington and No. 4 Portland. ‘We want someone to take charge, be a leader back there,’ Ely said. ‘Organize our defenders. Help us in the counterattack, and their distribution, whether it’s from their hands or their feet.’ The stat line is always at the forefront of a team’s successes and failures. With Anghel and Quinlan, the coaches are looking for statistical improvement as the learning curve takes its course. That learning curve continues for the two young goalies. And the stats tell a part of their story. Anghel has started in four of the six games for the Orange, posting a 1-2-1 record. Quinlan made her debut during Syracuse’s opening game against William & Mary on Aug. 20, giving up just one goal but losing a 1-0 decision. She has a 0-1-1 record in her first two games. ‘They’re a little nervous, obviously, and the pace of the game and decision making needs to be very, very quick on the collegiate level,’ Wheddon said. ‘I think they both had an adjustment period, but hopefully that period is over, and they can settle down and play.’ Senior forward Megan Bellingham sees the position battle as an opportunity for players to maximize their potential. With a replacement lurking, the player — in this case, the goalie — cannot get comfortable. The player must continually strive for better. ‘You have to strive to push the person in front of you, even if you’re not going to make the field,’ Bellingham said. ‘That’s what makes a good team great.’ The coaches may not like having to decide which candidate comes away with the starting job. The choice may give the team a different look, but it affects the efforts of the players, as well. The Syracuse coaching staff now has the difficult task of choosing the right fit, but it may be for the team’s benefit. No matter how long it takes. ‘Both of them worked really hard this summer and put in a lot of time and effort through the preseason,’ Ely said. ‘It’s been a good competition, definitely. It makes my job, Phil’s job, everyone’s job hard, to try and decide who it’s going to be.’ adtredin@syr.edulast_img read more

Intrastate rivalry hits Field House

first_imgThe last time the Wisconsin volleyball team played a match in the UW Field House, it dispatched Iowa State in the second round of the NCAA tournament on its way to its third-straight Sweet 16 appearance.Now, more than three months have passed, and the Badgers are ready to play before the home crowd again.”There’s no place like the Field House,” senior setter Jackie Simpson said. “It’s definitely something we have been looking forward to.”Wisconsin will take on in-state rival UW-Milwaukee in its first of two matches at home this spring. The two teams have become familiar foes over the last year as the Panthers came up to Madison last spring and the Badgers traveled to Milwaukee in the fall. Wisconsin came out on top in both matches.”Milwaukee’s always a scrappy team,” head coach Pete Waite said. “They are a well-coached team and are good ball-handlers.”Along with playing the Panthers several times over the last year, several members of the team know their players quite well.”A number of their players played on club teams with our players, so they are real familiar to us,” Waite said. “Amanda Berkley’s sister is an assistant coach for the team, so we got a lot of good ties to the program.”Something that has not avoided either of these programs is injuries and illness. UW-Milwaukee has several players out with injuries, so several seniors from last year’s squad are coming back to play this spring, Waite said.Wisconsin will also have several players out due to injuries or illnesses. Junior Morgan Salow has been out this spring with mononucleosis, and sophomore Caity DuPont is set to have back surgery Wednesday, Waite said.However, the injuries have given other members of the team opportunity to play different positions and show that they deserve more court time come fall.”Every minute they can be on the court gives them the experiences they need for next fall,” Waite said of his younger players.One of the players you can expect to see playing in a different position is senior Jocelyn Wack. Wisconsin’s libero will be returning to her natural position playing on the left side, a position she has not played in game action since coming to Wisconsin.Several other players will also have the opportunity to show they belong on the court.”People can have spots,” Waite said. “Maya (Carroll) got a chance to be in there. [Katherine] Dykstra has a chance to be in there. They are proving to us now before any other players get back on the court or the freshmen come in that they want those positions.”Even though he will not have all his regulars out on the court, the one thing Waite is looking for in this match is improvement from everybody, especially in blocking.”The biggest thing we have to improve on is our discipline in all techniques,” Waite said. “We weren’t doing a very good job of team blocking, so we need to work on our footwork and hand techniques. Our serve receive we need to be stronger at.”last_img read more