Arlington and Regus ready to scheme in Europe

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Accounting roundup: ‘illegal’ dividends, PIRC, FRC, s172, EFRAG

first_imgPensions and Investment Research Consultants (PIRC) believes that a growing number of companies are at risk of paying out an illegal dividend to shareholders if they fail to apply the requirements of the UK Companies Act 2006 correctly.The claim comes after it emerged in December that Domino’s Pizza had paid out almost £85m in illegal distributions, including a payment to the company’s employee benefits trust. The distributions spanned a period of 17 years.Tim Bush, head of governance and financial analysis at PIRC, told IPE: “If a company subsidiary that supplies a large part of the group dividend sits below one with a pension fund deficit, then that dividend may well be trapped, as the pension fund has first claim on those profits.”He added that PIRC – which has been locked in a long-running battle with the UK’s Financial Reporting Council (FRC) over the law regarding distributions – welcomed the analysis of the issue provided by Domino’s legal advisers, Norton Rose. Bush said: “It is also good to see that where there is a problem the lawyers are explaining the issue regarding the accounts clearly. There has been no need to dispute the lawyers on that. Their analysis is entirely consistent with the position of Mr Bompas QC.”Alongside failures to apply the law on distributions correctly, both PIRC and other pensions advisers have warned over the past year that companies could face a dividend crunch through burgeoning pension deficits.Together with the issue of a simple lack of profits to distribute, companies might also find that a poorly structured pension fund leaves them with cash trapped within the group structure.A trio of top City lawyers told IPE last year that the question of dividend payments was a minefield.Meanwhile, a fresh skirmish has broken out between PIRC and the FRC regarding whether or not there is a specific duty for companies to report their compliance with section 172 of the Companies Act 2006.Section 172 requires company directors to act in the best interests of the success of their company. It says a director must “act in the way he considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole.”The FRC told IPE in a statement that it needs additional powers to police compliance.In evidence to the UK parliament, the watchdog’s chief executive Stephen Haddrill said a change in the law would reinvigorate section 172.Elsewhere, the European Financial Reporting Advisory Group (EFRAG) has issued a call for pensions professionals to staff a working party on accounting for so-called hybrid pension plans.PensionsEurope told IPE it was keen to take part in the project and urged EFRAG to ensure that the process was transparent.“We hope that EFRAG will accept candidates that represent PensionsEurope’s members in the Advisory Panel,” a spokesperson said.Applications are open until 20 February.last_img read more

Laney Elva Benning

first_imgLaney Elva Benning, 82, of Lawrenceburg, Indiana, passed away Monday, August 8, 2016.She was born on August 21, 1933 in Rock Creek, Kentucky, daughter of the late Albert Litton and Tressie Hamlin Litton.Laney worked as a Computer Operator for Clopay, retiring after over 30 years of service.Surviving are her husband of 35 years, Billy Benning of Lawrenceburg, Indiana; sisters, Freda McMillion of Milford,OH, Barbara Weathers of Franklin, Indiana, Connie Parker of Armathwaite, TN. as well as many nieces and nephews.She was preceded in death by her parents, sisters, Seva Myers, Opal Ray, Oda Humfleet and brothers Arlas and RJ Litton.Friends will be received Thursday, August 11, 2016 from 5:00-8:00 pm at the Rullman Hunger Funeral Home, Aurora, Indiana.Services will be held at the Funeral Home on Friday at 11:00 am with Michael Weathers officiating.Interment will follow in the River View Cemetery, Aurora, Indiana 47001.Contributions may be made to the American Heart Association. If you are unable to attend services please call the funeral home office at (812) 926-1450 and we will notify the family of your donation with a card.Visit: www.rullmans.comlast_img read more

10 dates in Jax-sponsored IMCA Stock Car series

first_imgGARDEN CITY, Kan. – Five March races get the Dirt Track Central Jax Sports Grille Great Plains Series for IMCA Sunoco Stock Cars off to a very fast start. New title sponsor Jax Sports Grille of Garden City, Kan., provides a portion of the series point fund. The champion earns bonus points applicable toward national and regional point standings.Ten dates comprise the 2014 tour schedule, starting with $500 to win features March 21 and 22 during Spring Nationals at Beatrice Speedway.The remaining eight features each pay $750 to win. Those events are March 28 and 29 during the Sunflower Classic at RPM Speedway; March 30 during WaKeeney Spedway’s Spring Fling; April 18 at Dirtona Raceway; April 19 at Dodge City Raceway Park; May 26 at WaKeeney; Aug. 3 at Dawson County Raceway; and Sept. 19 at Thunder Hill Speedway.Point fund checks will be presented during the national awards banquet or mailed beginning the following week from the IMCA home office.Owned by veteran driver Rodney Wadel, Jax opened in 2006 and boasts a menu with steak and burger favorites. Jax also hosts receptions, has an outdoor venue for entertainment and does catering. More information is available on Facebook. Wadel plans to race at three series events this season. Justin Temeyer and Perry Misner will follow the entire tour in Jax cars. “The partnership with Jax fell into place in 2014 and makes great sense for our Stock Car drivers in the region and beyond,” IMCA Marketing Director Kevin Yoder said. “Jax Sports Grille is a great place to spend time with friends away from the track and we hope the Great Plains Series has the same attraction for racers at the track.” Based on forecasted temperatures, Saturday hot laps at Beatrice have been moved to 3:30 p.m. with racing at 4 p.m.last_img read more

Norwich back racist abuse probe

first_imgNorwich have backed the Kick It Out campaign’s decision to pursue legal action over an allegedly racist comment directed towards manager Chris Hughton on a social networking site. Press Association The club were made aware of the post on an unofficial Facebook page purporting to encourage ‘banter’ between fans of the Canaries and local rivals Ipswich this week. Kick It Out have reported the comments to police as a hate crime and the club said in a statement they would work with both the campaign, the police and Ipswich to find the culprit. center_img The statement said: “The club has been made aware of racist language about our manager Chris Hughton posted on an unofficial fans’ Facebook page in the last few days. “Kick It Out.. has reported the comments made as a hate crime to the police and Norwich City totally supports this stance. “We are in dialogue with Kick It Out and Ipswich Town and will co-operate fully with the police investigation into the incident. “We have a zero tolerance policy on racism and all other forms of discrimination and any supporter found guilty of racial abuse faces a lifetime ban from Carrow Road in addition to any punishment handed out by the courts.” last_img read more

DeSantis Expands Empowerment Scholarship, Provides COVID Update

first_imgOn Wednesday, DeSantis also signed a $500 million education funding bill that increases the minimum salary for public and charter school teachers.“That will, one, reward teachers who are doing a good job,” DeSantis said while signing that legislation. “It’ll also help us continue to recruit people into the profession.”DeSantis also provided an update on Thursday regarding the state’s response to the coronavirus pandemic, again asking Floridians to avoid crowded spaces and close quarters.“Outdoors in Florida is better than the air conditioning in terms of the virus,” DeSantis said, adding that many COVID-19 outbreaks have been traced back to multi-generational homes. “The spread outdoors is minimal. If you’re cooped up inside, you just tend to have more spread.”According to the latest numbers from the Florida Department of Health, there are 114,018 confirmed cases of COVID-19 in the state, an increase of 5,004 cases from Wednesday. Florida Gov. Ron DeSantis says he wants children from the state’s low-income backgrounds to have all the tools they need to succeed in school and in life.Speaking at Cristo Rey Tampa Salesian High School in Tampa on Thursday, the governor signed a bill that expands Florida’s Family Empowerment Scholarship.The scholarship is intended to help children from low-income and working class families get into the schools that best fit their needs.“If we in the state of Florida can say, we’re doing everything we can to make sure that any child, regardless of income, regardless of income status, regardless of race and ethnicity, has tools to be able to make the most of the God-given talent,” DeSantis said.The governor added that the expansion of the initiative will essentially clear the wait list for the scholarship, and will end up helping around 30,000 students in the state annually.“We believed that we wanted those kids off the wait list,” DeSantis explained. “We wanted to be able to empower parents. Many of them are low-income parents. Many of them are single mothers.”WATCH LIVE: Governor Ron DeSantis Makes a Major Announcement in Tampa— Ron DeSantis (@GovRonDeSantis) June 25, 2020last_img read more

Update on the latest in sports:

first_img Associated Press February 25, 2020 Lions release HarrisonALLEN PARK, Mich. (AP) — The Detroit Lions have released defensive tackle Damon “Snacks” Harrison.The Lions announced the move Tuesday, less than a year after signing him to an $11 million, one-year contract extension. Harrison went into the 2019 season with two years years left on the $46 million contract he signed with the New York Giants.Harrison started in 15 games last season, but had a career-low 49 tackles and two sacks for the three-win Lions. Detroit acquired Harrison from the Giants in the middle of the 2018 season for a fifth-round draft pick. The 31-year-old Harrison was a 2016 All-Pro selection.GOLF-BRITISH OPEN Share This StoryFacebookTwitteremailPrintLinkedinRedditMLB-YANKEES-SEVERINOSeverino will miss 2020 seasonDUNEDIN, Fla. (AP) — New York Yankees pitcher Luis Severino needs Tommy John surgery and will miss the 2020 season. The two-time All-Star right-hander was sidelined until the final weeks of the regular season last year.New York already expects to be without left-hander James Paxton for the first two months of the season following back surgery on Feb. 5.Severino’s injury leaves the Yankees with a rotation of newly signed ace Gerrit Cole, Masahiro Tanaka, J.A. Happ and two openings until the return of Paxton and Domingo Germán from a suspension for violating Major League Baseball’s domestic violence policy.NBA-SCHEDULERaptors meet Bucks TORONTO (AP) — The Toronto Raptors, winners of 17 of their last 18, tonight host the NBA’s best team, the Milwaukee Bucks. Milwaukee needed overtime last night in Washington to beat the Wizards, 137-134. The Bucks have won 17 of their last 19.The Los Angeles Lakers, winners of five in a row, host Zion Williamson and the New Orleans Pelicans tonight. Williamson has been a dominant force for New Orleans since making his NBA debut a month ago. He has eight consecutive games with 20 or more points.Elsewhere in the NBA, the Charlotte Hornets meet the Pacers in Indiana, the Chicago Bulls host Oklahoma City, the Pistons play at Denver, the Celtics are in Portland, and Golden State hosts Sacramento.COLLEGE BASKETBALL-SCHEDULEBaylor against Kansas Statecenter_img Update on the latest in sports: UNDATED (AP) — Second-ranked Baylor meets Kansas State, and fourth-ranked Dayton visits George Mason in tonight’s college basketball action.Number-five San Diego State meets Colorado State, while seventh-ranked Duke is at Wake Forest, and eighth-ranked Kentucky plays at Texas A&M.NHL-SCHEDULEBruins host FlamesBOSTON (AP) — Still atop the NHL standings despite a weekend loss to Vancouver, the Boston Bruins return home tonight to host the Calgary Flames. The Canucks, who’ve moved into second place in the Pacific Division, are in Montreal to face the Canadiens.The St. Louis Blues, winners of four straight and the Western Conference leaders, host the Chicago Black Hawks.The Tampa Bay Lightning, who’ve lost two straight after a franchise-record 11-game win streak, try to get back in the win column at home against Toronto.In other NHL action, Dallas skates at Carolina, the Rangers visit the Islanders, the Flyers host San Jose, and the Capitals are at home against Winnipeg. The New Jersey Devils meet the Red Wings in Detroit, Minnesota hosts Columbus, it’s Ottawa at Nashville, Arizona hosts Florida, and the Oilers visit the Anaheim Ducks.NFL-LIONS-HARRISON Royal Troon to again host the OpenUNDATED (AP) — The British Open is returning to Royal Troon in Scotland for the 10th time in 2023. It commemorates the 100-year anniversary of the first Open held on the Ayrshire coast of Scotland.Troon is most famous for the last Open played there in 2016. Henrik Stenson shot 63 in the final round to win a memorable duel against Phil Mickelson and set a scoring record.As for Turnberry? The course owned by President Donald Trump will have to wait. The R&A says Turnberry is still on the rotation, but it worries about its limited infrastructure that leads to smaller crowds.last_img read more

With Croatia’s 2-0 Win, Nigeria Walks a Tightrope in Group D

first_img*Rohr says Eagles have no option but to defeat IcelandDuro Ikhazuagbe in KaliningradAfter two silly mistakes by Oghenekaro Etebo and William Troost-Ekong earned Croatia a deserved 2-0 victory against the Super Eagles at the Kaliningrad Stadium in Russia on Saturday night, Nigeria walks a tightrope qualifying from Group D of the ongoing FIFA World Cup in Russia. First, It was Etebo who deflected Juventus forward, Mario Mandzukic’s goal-mouth scramble from Real Madrid man, Luka Modric’s corner kick beyond the reach of goalkeeper Francis Uzoho for Croatia’s opening goal. And then, William Troost-Ekong wrestled down Mandzukic for the penalty converted by Modric.Eagles Technical Adviser, Gernot Rohr, aptly captured the situation Nigeria now finds herself following the one-all draw played earlier by favourites Argentina and Iceland.“With Croatia now leading the group on three points and Argentina and Iceland on one point each, we now do not have the option but to win our next match against Iceland on Friday,” was how the Franco-German gaffer summed up the herculean task faced by Nigeria at the post-match conference after the clash here in Russia.He admitted it was disappointing for Nigeria to have lost the game Eagles had hope to pick atleast a point from before meeting Iceland. “It is disappointing for us to lose the match. However, Croatia had a better team than us on the night. I must also admit that some of my players made silly mistakes. Both the first and second goals came through corner kicks. Yes, there were some calls that were questionable but we have to accept this defeat and move on.”Rohr insisted that the hope of Nigeria qualifying from the group was not lost yet as two other teams in the group have just one point each. Our future in the competition is still in our hands. We can do it because we have the youngest team in the competition and have the energy to pursue the dream of making it out of the group stage even if it is a difficult one,”“We can still qualify if we win our next match and get at least a draw in the last game against Argentina to end on four points.”On the blunt Eagles attack that was completely blunt on the night, the coach said: “Nobody will be happy when the attackers cannot put the ball behind the net. Alex Iwobi tried at the beginning but lacked the cutting edge. He played very well in the three weeks we were in camp before coming here. He deserved to start the game.Ahmed Musa came in the second half and brought his speed to wear down the Croatian defence line. Now, Musa has the chance to start the next game. It was the first time that we played like that (poorly) in the midfield with Wilfred Ndidi, (Oghenekaro) Etebo and Obi Mikel. Ndidi was just coming back from injury. Because of that, there was a bit of complicity in that department. Perhaps, they need a little bit more of time to get it right.”Rohr also did not mince words in insisting that Eagles were naïve on set pieces which Croatian Captain, Luka Modric, and his men in the midfield capitalised to torment Nigerian defence. “We are going to work on that to ensure that we are not caught off guard like it happed in this our first match.”On Mikel’s poor role in the offensive midfield position, Rohr said since arriving at the job, the Tianjin Teda star has always played in that place. “Mikel’s role all through the qualifying series to the World Cup was going on very well. The team was built around him. I know that he also played before in defensive midfield. In China I know sometimes he plays in the offensive and at times in the defensive. When he has the ball everybody is offensive and if defending everyone fall back to defend. Mikel tried his best but when playing a packed Croatian midfield that have Modric and Ivan Rakitic then you need to up your game to stay alive. They play these roles in Real Madrid and FC Barcelona respectively. So when you start to compare that with how our midfielders play in their clubs, then there is a big problem.”He concluded by stressing that Eagles must have learnt some good lessons from the defeat.“I know that both Iceland and Argentina are very good teams but I believe my players have learnt lessons from the defeat and be able to play better against these our two next opponents.”Croatia moved to the top of Group D of the 2018 World Cup on three points with Argentina and Iceland on one point each from the one-all draw.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

NPFL: MFM FC Fight Back to Stay on Top of Group…

first_imgHowever, Abisoye Olawale ensured that the visitors did not take the two-goal advantage into the second stanza as he pulled back one on the stroke of half-time. New boy in the fold, Michael Ohanu, justified his coming on board the church team by netting the equaliser in the 52nd minute.Chuks Kenedium grabbed the winner  late into the stoppage time to send MFM fans into delirious celebration. MFM is seating pretty on top Group A with 15 points from seven matches. They are clear five points clear of second placed Enyimba. Katsina United and Rivers United make up the top four of Group A.Despite sharing points with Heartland, IfeanyiUbah and El Kanemi Warriors are joint leaders on same 15 points while the Imo State owned team is third.In Aba, former MFM player, Onuka Chukwuka grabbed the lone winner for Enyimba in their 1-0 defeat of Remo Stars. That win for the People’s Elephant has now pushed the Aba team to the second spot of Group A.Elsewhere in Jos, another former MFM FC player, Jesse Akila  ensured that Plateau United ended a run of 10 NPFL games without any win with a 1-0 defeat of Go Round FC.  Akila scored the winner in  the 77th minute from an assist by substitute Bernard Ovoke.The Oriental Derby at the Okigwe Township Stadium between Heartland and FC IfeanyiUbah ended in a 1-1 scoreline. Joshua Akhabue gave Heartland the lead on 16 minutes, while Chijoke Alakwe equalised for the visitors in the 38th minute.In Ilorin, Kwara United defeated Wikki Tourists 1-0 with Segun Alebiosu hitting the winner from the spot in the 25th minute while Kano Pillars were 3-1 winners at the Sani Abacha Stadium against Yobe Desert Stars. Veteran Rabiu Ali, Chinedu Sunday and David Ebuka scored the goals for the Sai Masugida. Philip Auta scored the consolation goal for Yobe Desert Stars from the spot three minutes from time.Abia Warriors suffered first defeat in three games following a 1-0 loss to El-Kanemi Warriors in Maiduguri. Sunday Anthony grabbed the winner 12 minutes from time.MATCH-DAY 8(Results)MFM FC 3-2 TornadoesPlateau 1-0 Go RoundEnyimba 1-0 Remo StarsKwara Utd 1-0 WikkiPillars 3-1 Yobe StarsEl-Kanemi 1-0 Abia WarriorsHeartland 1-1 IfeanyiUbahShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram IfeanyiUbah, Heartland share points in OkigweBy Duro IkhazuagbePlaudits for Match-day 8 of the Nigerian Professional Football League (NPFL) belong to MFM FC. The church team did not just rally back from two goals down against Niger Tornadoes to win 3-2 at the Agege Stadium to retain the top position of Group A, former players of the Olukoya Boys were also winners in Aba and Jos.Embattled Tornadoes had raced to two goals lead in the first ten minutes of the clash at the Soccer Temple. Peter Abashuga and Jonathan Osondu produced the two goals that stunned MFM FC back to life.last_img read more

Spurs Defeats Cardiff to Go Second on New Year Day

first_imgSon Heung-min added a third before the break and, from that point, the untroubled visitors seemed to ease off a little.Cardiff at least registered their first efforts on target in a low-key second half but the damage had already been done and they remain 16th in the table, three points clear of the relegation zone.By contrast, a sixth victory from seven league matches closes the gap between Spurs and leaders Liverpool to six points, with the Reds away at third-placed Manchester City on Thursday.And although the home side was barely in this contest, such a handsome margin of victory and convincing performance was timely for Tottenham, who had suffered a shock defeat at home to Wolves in their previous outing.Successive thrashings of Everton and Bournemouth had added weight to the notion Spurs are genuine contenders to win the Premier League, even if Mauricio Pochettino had described his side as “intruders” in the title race.Their growing sense of optimism was punctured by that loss to Wolves – but this display suggested it was a mere aberration.Whereas Wolves were disciplined and resolute, on this occasion Spurs were presented with a charitable Cardiff defence – which they punished clinically.The opening goal arrived inside three minutes and in farcical fashion, Kane playing the ball wide to Kieran Trippier, whose cross fell to Sean Morrison but the Cardiff defender only succeeded in playing the ball on to Kane’s knee before it bobbled into the net.It may have been a lucky strike for the England captain but it was also a significant one, as it meant he has now scored against all 28 of the Premier League teams he has faced.Tottenham had countered swiftly and accurately to set up that opportunity, and it was a similar tale for their second goal as Son teed up Eriksen, who deftly shimmied into a shooting position before arrowing a low effort into the bottom corner.Son, who has been in sparkling form of late, then got in on the act as he received a pass from Kane and finished neatly from a tight angle.At this point, Spurs looked set to hand Cardiff a hammering heavier than either of the two they had dished out to Everton and Bournemouth, but instead Pochettino’s men showed a little mercy.After a congested festive period of fixtures, it may have been an effort to conserve their energy, perhaps a wise approach with far tougher challenges to come.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram PREMIERSHIPTottenham strolled to a comprehensive 3-0 win at Cardiff City yesterday to climb back up to second place in the Premier League table.Spurs ruthlessly exposed the hosts’ flimsy defending to race into a 2-0 lead after just 12 minutes – Harry Kane bundling in a fortuitous early opener and Christian Eriksen nestling a fine strike into the bottom corner.last_img read more