Wavell Heights home sells for $692k, buyer plans to demolish

first_imgMore from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019REAL ESTATE: 18 Hubbard St, Wavell HeightsThere were five written offers on the home, with it eventually selling for $692,000 to an investor.“I believe they plan on holding on to it for a few years, and then knocking it down,” Ms de Vuyst said.The block is 607sq m and east facing, with the potential for city and bay views, according to Ms de Vuyst.Wavell Heights has become a hot spot for those wishing to renovate, with the age of the homes and location a drawcard.“The style and age of the homes, along with their ease to renovate is why the renovation market in Wavell Heights is extremely popular,” Ms de Vuyst said.“People are also looking at its school catchments and proximity to the city.”Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:17Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:17 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p256p256p228p228pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenMichelle Hele’s May market wrap03:17 REAL ESTATE: 18 Hubbard St, Wavell HeightsTHE renovation market is going gangbusters in Wavell Heights with more than 60 groups viewing this home.dV Property Group Nundah owner Jane de Vuyst said 18 Hubbard St home was on the market for six weeks and saw 62 groups, many of whom were keen to get a paintbrush in their hands.“Interest was mainly from people who were looking to renovate, or knock it down and build anew,” Ms de Vuyst said.last_img read more

‘Sophisticated’ investors do not view infrastructure as asset class

first_imgBlanc-Brude, presenting the survey’s preliminary results ahead of it closing to respondents, added that the most “sophisticated” of respondents within the survey were examining infrastructure for its risk factors. European investors including ATP have employed risk-factor investing in place of traditional asset classes for a number of years, and the notion has been gaining favour among some of Canada’s largest pension investors. Blanc-Brude noted how the understanding of infrastructure had grown beyond focusing on energy assets, among others, to include companies that have “certain types of contractual arrangements with governments”.The survey also found the overwhelming majority of respondents were unhappy with the types of products available to access infrastructure, with only 3% agreeing the market fulfilled investors’ needs.More than 80% said products partly fulfilled their needs as investors, while a further 15% said products were “mostly inadequate”.Another question asked whether respondents – including asset owners and managers – thought the use of closed-end private equity fund structures was justified for infrastructure; three-quarters of respondents agreed the approach was “outdated” and failed to add value.The apparent distrust of products extended to a distrust of assessments conducted by asset managers, Blanc-Brude said.“Only half the [asset owner] respondents said they would trust the valuation their infrastructure managers report,” he said, “which means the other half acknowledges, de facto, that they have no idea what their return is because they don’t trust the evaluation.”In a boost for the infrastructure benchmark being developed by EDHEC, only 6% of respondents said current benchmarks were adequate, while 27% agreed they were inadequate.The overwhelming majority of respondents said they were completely lacking. Sophisticated asset owners and managers no longer view infrastructure as an asset class but rather examine investments based around risk factors, a new survey has suggested.The research, conducted by the EDHEC Infrastructure Institute-Singapore and the G20-backed Global Infrastructure Hub, nevertheless found that around two-thirds of respondents viewed unlisted infrastructure as a standalone asset class, while one-third saw its listed equivalent as an asset class.Frédéric Blanc-Brude, director of EDHEC’s infrastructure venture, said he had “some issues” with the majority of the 150 respondents, both asset owners and asset managers, viewing infrastructure as an asset class.“What’s most interesting is to understand how infrastructure investment can contribute to portfolio investment objectives in general, rather than if it’s an asset class in itself,” he said. last_img read more

UK pension fund deficits jump to highest level ever recorded

first_imgThe index shows the latest estimated funding position of DB schemes in the PPF’s universe, on a section 179 basis.Simply put, section 179 liabilities represent the premium a scheme would have to pay an insurer to take on the payment of PPF levels of compensation.Noting that equity markets and Gilt yields were the main drivers of funding levels, the PPF said that, during July, when scheme liabilities had grown by 3.5%, conventional 15-year Gilt yields fell by 24 basis points, while index-linked 15-year Gilt yields fell by 3bps.Meanwhile, scheme assets rose by 2.8% in the month, reflecting the impact of both higher Gilt prices and stock markets.The FTSE All-Share Index has climbed by 3.9% in July.Andy Tunningley, BlackRock’s head of UK strategic clients, said the rise in equities last month has not been enough to combat a further drop in already low yields, and that this had brought the index down to its lowest funding level ever. “The tremors following the UK’s decision to leave the EU continue to be felt,” he said.“The path of future rates is likely to be even lower for an even longer period, confirmed by the Bank of England’s decision to cut the Bank Rate to 0.25% and indications there could be further cuts to around zero.”Recent business activity and sentiment surveys suggest there will be scant economic growth in the UK in the rest of this year, he said.“Covenant risk could increase in this more uncertain environment, with sponsors being less willing or able to increase future scheme contributions,” he said.He said BlackRock’s view had long been that most schemes should be taking less risk and increasing their liability hedge ratios.“Recent political and economic events make this even more critical,” Tunningley said.Last week, the UK’s Pensions and Lifetime Savings Association called on the Pensions Regulator “to take a proportionate and flexible approach” to scheme funding, in the wake of the Bank of England’s monetary easing plan, which sent DB deficits to new highs. The gap between assets and liabilities of UK defined benefit (DB) pension schemes widened still further last month, with deficits reaching the deepest level recorded as long-term bond yields declined further, according to data from the Pension Protection Fund (PPF).The UK pensions lifeboat released its latest PPF 7800 Index bulletin, which revealed that the aggregate deficit of the 5,945 schemes in the index has increased to an estimated £408.0bn (€477.8bn) at the end of July – the highest level recorded by the index – up from a £383.6bn deficit at the end of June.The average funding ratio of the schemes deteriorated to 77.4% at the end of July from 78% the month before.Total assets were £1,401bn at the end of July, while total liabilities were £1,808.9bn, and 5,020 schemes were in deficit and 925 in surplus.last_img read more

Accounting roundup: FRC targets ESG for next reporting season

first_imgThe UK’s Financial Reporting Council has written an open letter to audit committee chairs and finance directors warning them it plans to target a number of environmental, social and corporate governance issues this reporting season.The development could see companies in carbon-intensive industries held to greater account over the impact of their businesses on climate change.It follows the introduction of new government regulations that now force UK companies to report their compliance with section 172 of the Companies Act 2006.Climate finance lawyer Daniel Wiseman from environmental campaign group ClientEarth said: “The FRC has now been explicit that companies must consider and report relevant climate-related information under existing disclosure laws. After repeated demands from the world’s biggest investors for detailed and TCFD-aligned climate-related disclosures, directors have run out of excuses for hiding this information from shareholders.“The FRC and the Financial Conduct Authority must now enforce these laws properly and ensure investors have the information they need to protect our savings and the economy from the most disruptive climate change impacts.”According to s172, a company’s management has a responsibility not only “to promote the success of the company” but also to have regard to a wide number of stakeholders such as employees, suppliers and even the wider environment.Those that want to see s172 more rigorously enforced argue it could cast a light on a wide range of corporate misconduct and environmentally damaging practices.The FRC letter expressly warn boards to “include a further statement within the strategic report, describing how they have had regard to a number of factors when working to promote the success of the business.”The new requirement applies from 1 January 2019.The issue of s172 reporting hit the headlines in August 2016 when environment law campaigner ClientEarth filed two regulatory complaints with the FRC about SOCO International and Cairn Energy.ClientEarth alleged both companies were in breach of the duty to report how they had complied with s172. Both SOCO International and Cairn Energy have rejected the allegations.PIRC claims FRC ignored s172Pensions & Investment Research Consultants has claimed that the FRC had either misunderstood or ignored s172, telling the UK Parliament in a written submission that:“There is clear evidence with Section 172 and Section 414, and Section 393 and Part 23 of the Companies Act 2006 that the FRC is not adhering to the law.”The FRC, however, said it was unable to enforce reporting about compliance with s172 unless the government changed the law.Since that row erupted, the government last year introduced The Companies (Miscellaneous Reporting) Regulations 2018.In response, the FRC is now urging companies not only to report on their compliance with s172 but also to address the overlap between that section of the Companies Act 2006 and the UK government’s Green Finance Strategy and the UK Corporate Governance Code. Meanwhile, among the other areas of concern highlighted by the FRC in the letter are:financial instruments,lease accounting,revenue recognition, andgoodwill impairment.Last month, PIRC wrote to FTSE 100 boards and warned them to be alert to any discrepancies between the assets reported in their group accounts and those in their parent or holding company accounts.In its letter, the FRC now warns that “where the carrying value of a parent company’s investment in subsidiaries exceeds the group’s market capitalisation … we will ask whether an impairment review has been carried out” and also challenge any “inadequate disclosure” in the accounts.IASB completes amendments to hedge accounting requirements The International Accounting Standards Board has finalised its amendments to the hedge accounting requirements detailed in its financial instruments accounting literature.The board has made the changes in response to the discontinuance of certain interest-rate benchmarks such as the London Interbank Offered Rate.The amendment requirements grant relief to entities that use hedge accounting so that they are not forced to discontinue their hedge accounting as a result of the switch to a new interbank offered rate.  The alterations also require entities to make certain disclosures to investors about the impact of the switch to new benchmark rates.The three accounting standards affected are:IFRS 9 Financial Instruments,IAS 39 Financial Instruments: Recognition and Measurement, andIFRS 7 Financial Instruments: Disclosures.Hedge accounting is an accounting policy choice that focuses on reducing income statement volatility by offsetting a position on one security or exposure with an opposing position.Under international standards, it is essentially an exception to the normal rules of fair value accounting that does not amount to an attempt to generate a profit in the same way that a bank or financial institution does when it invests or trades in securities.The new requirements take effect from 1 January 2020 with early adoption permitted.In its 2019 accounting priorities notice, the European Securities and Markets Authority urges issuers “to prepare for the timely implementation of these amendments and closely monitor development in the endorsement process in the European Union.”last_img read more

National Oilwell Varco Sells Two BOP Stacks to Transocean

first_imgNational Oilwell Varco has sold two 20,000-psi (20K) blowout preventer (BOP) stacks to Transocean, becoming the first oil field equipment manufacturer to design, engineer and sell such a package. NOV’s 20K BOP stack is designed to optimize uptime and reduce unplanned stack pulls, reaffirming the company’s commitment to technical authority, engineering excellence and safety.“This is a historic moment for the offshore oil and gas industry,” said Joe Rovig, president, NOV Rig Technologies. “The introduction of NOV’s 20K BOP marks a new era in the exploration and development of high-pressure formations. We are proud of our role in enabling our industry to continually push beyond traditional limitations through technological innovation.“The sale of this equipment and technology package is the culmination of five years of extensive work by NOV Rig Technologies and marks another advancement for the offshore industry as it seeks to safely and efficiently drill the world’s most challenging reservoirs.”The 20K BOP stack is designed for use with extremely high-pressure reservoirs and can be used in ultra-deepwater.The initial deployment is expected in 2021 on a 20K well in the Gulf of Mexico.last_img read more

The Latest: Russia wants doping past forgotten amid virus

first_imgThe Latest: Russia wants doping past forgotten amid virus The World Anti-Doping Agency barred Russia from the Olympics for four years after ruling last year that doping data from a Moscow laboratory had been manipulated. The Court of Arbitration for Sport is to rule on whether the ban is valid but hearings have been delayed because of the health crisis.Sports Minister Oleg Matytsin says the virus outbreak means the parties in the legal proceedings should avoid a ruling against Russia because it would fracture the Olympic movement.He adds that “when you see that everyone is isolated and everyone is at home … people understand that now there are priorities and there are issues which go on the backburner. The priority is the future of the Olympic movement.”Matytsin says sanctioning Russia would damage the Olympic movement and says the country is prepared to host more international sports events once the virus outbreak recedes.___ Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The Russian sports minister says it’s time for international authorities to “turn a new page” and forget the country’s Olympic doping ban because of the coronavirus pandemic. More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6center_img April 10, 2020 Associated Press last_img read more

Chapman family excels at, drives Central Michigan football

first_img Published on September 11, 2014 at 12:11 am Contact Matt: mcschnei@syr.edu | @matt_schneidman Jarret Chapman jokes that the “C” on his helmet stands for his last name, not his team’s name.While many college football teams say they’re a “big family,” Jarret, a senior defensive back, says Central Michigan is actually one — both figuratively and literally.In addition to Chapman, the Chippewas have his brother Mark, a redshirt freshman wide receiver, and their cousin Winslow, a redshirt sophomore defensive back. After Jarret and Mark moved from San Diego so all three could play high school together, the three fed each other’s appetite to compete at the Division I level.Now all at CMU, they’ve created a family atmosphere that’s rarely found in any other locker room.“Days where I didn’t feel like working, it’d be like, ‘Dang, man, I don’t know about today. I’m kind of tired,’” Jarret said. “I’d just look at Winslow and Mark. We’d be like, ‘Nah man, we’ve got to work today. We’re trying to play D-I college football.’AdvertisementThis is placeholder text“The flying C is Chapman University and people be like ‘Man, you have any other family members coming up here?’”Even though Jarret and Mark were able to play pickup with Winslow when they visited him in Port Huron, Michigan, they couldn’t move and play competitive games together due to their father, James Chapman’s job out West.James, realizing the future his two kids had in football and their desire to play on the same high school team with their cousin, made a sacrifice.“They wanted to go home and play with their cousin as they started their high school years,” James said. “I decided to go ahead and retire so they could go home and play football with their cousin. That’s a big reason why they wanted to come home.”In their time at Port Huron (Michigan) High School, all three garnered team Most Valuable Player honors. When colleges came looking for Jarret, it wasn’t anything football-related that first opened his eyes to CMU, though.His elder cousin, Josh, was a freshman at Central Michigan at the time. Jarret and Mark’s oldest brother, Kalvin, was set to attend Michigan State. But once Josh convinced Kalvin to take a visit to Central Michigan, Kalvin was sold and the dominoes for the rest of the family started falling.Neither Kalvin, a fifth-year senior, or Josh, who graduated last year, played football at CMU, but after taking a visit to Mount Pleasant at Kalvin’s suggestion, Jarret bought in as well. When he finally got an offer after his senior season of football, Jarret didn’t even take 24 hours to make his decision. Then Winslow came. Then Mark.“A lot of people say maybe I had my hand in it. I did not,” James said. “It had more or less to do with (Kalvin). I figure whoever gets (Jarret) first, then the two may follow and that’s the way it went.”Almost four years later, CMU head coach Dan Enos has completed recruiting the trifecta of Chapmans that were on his radar. Enos said Jarret gave the other two a birds-eye view of how the program was run and that it’s a testament to CMU football to have three relatives commit in succession.While Jarret possesses physicality and toughness as a safety, he said Mark is a do-it-all speed threat and Winslow is an all-around athlete. Enos also added that all three bring valuable intangibles on the field, but it may be their value off it that speaks to the highest volume.“They’re great young men. They’re all outstanding students,” Enos said. “They’re really the epitome of what we’re trying to recruit in this program.”Having a brother and a cousin who share a locker room helps keep the mood loose, Jarret said, despite the day-to-day rigors of Division I football. And when Enos calls on Jarret in team meetings, Winslow will answer and confuse the head coach before he realizes one is trying to imitate the other.While it may simply be another laugh in a different locker room, it’s just a microcosm of the daily benefits that come from wearing the same jersey as two other family members.“It always brings a good environment, knowing I got family on the team,” Jarret said. “It really helps days during the grind of football practice and everything, knowing my brother is here, my cousin is here.” Comments Facebook Twitter Google+last_img read more

Saraki Celebrates Team, Urges for Honest Reappraisal

first_imgSenate President, Dr. Abubakar Bukola Saraki, on Sunday celebrated with Nigeria’s Under-23 team for winning the bronze medal in the men’s football event at the Rio Olympics and called on Sports authorities in the country to embark on honest reappraisal.Saraki in a statement by his Special Adviser on Media and Publicity, Yusuph Olaniyonu, in Abuja, also congratulated Nigeria for the feat achieved by the team.He extolled the doggedness of the Coach Samson Siasia-led boys and their ability to bounce back from defeat to claim a bronze medal for the country. Saraki said: “I am excited about this last minute redemption of the nation’s pride by the team. The game against Honduras was no doubt a make or mar cracker. But we are happy to have emerged victorious. Thanks to the team and their technical crew.“You have made the country proud by winning the third place match against all odds and we are proud of you and your superlative outing. All those who prayed and supported the team to the end also deserve special commendation. We were not disappointed,” he said.Saraki noted that the fact that the nation’s delegation did not perform as expected in the Rio Olympics Games billed to end on Sunday should not be a reason to engage in a blame game. Rather, he urged sports authorities in the country to immediately put their house in order and ensure that the country’s athletes have better preparations for the next Olympics and other major sports meets in the world.“We must immediately reappraise our participation and ensure that the factors that set us back in the various events are identified and immediately redressed in order to aid our planning and preparation for the next edition of the games,” he said.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

WAFU Zone B Championship: Black Queens win bronze as Nigeria annex title

first_imgThe Black Queens of Ghana have grabbed a 3rd place consolation at the WAFU Zone B Women’s Championship in Abidjan, Cote d’Ivoire after they beat Mali on penalties to win a bronze medal.Mercy Tagoe-Quarcoo’s women triumphed Malians 8-7 on penalties following a goalless draw.The bronze medal is consolation for the Queens who were beaten in the semi finals by Nigeria in the shoot out after the game ended 0-0, ending Ghana’s quest to defend the title they won last year.Nigeria meanwhile, shocked host nation Cote d’Ivoire in the final to win their first title of this competition. The Super Falcons emerged victorious following a penalty shoot out after the game ended 0-0.Nigeria won 5-4 in the shoot out.last_img

Ex-Dallas Police Officer Amber Guyger Sentenced to 10 Years in Prison for Killing Neighbor

first_imgA jury imposed a 10-year prison sentence Wednesday on former Dallas, Texas police officer Amber Guyger, who was found guilty earlier in the week for fatally shooting her neighbor, Botham Jean, in his apartment in September 2018.The 31-year-old Guyger had claimed that she walked into the wrong apartment by mistake and opened fire when she thought Jean was a burglar.Her sentence was met with boos and jeers by a crowd that was gathered outside of the courtroom.Inside the courtroom, Jean’s brother, Brandt Jean, addressed the Guyger from the witness stand. He said that he forgives Guyger, adding, “I love you as a person. I don’t wish anything bad on you. I don’t know if this is possible, but can I give her a hug?”The judge allowed it, and Brandt and Guyger met and embraced in front of the bench, as Guyger sobbed.Prosecutors had asked jurors to sentence her to at least 28 years, which is how old Jean would have been now if he was still alive.The jury had the option of sentencing the former officer to up to life in prison or as little as two years.Guyger, who was returning from a long work shift on the night of the shooting, entered Jean’s fourth-floor apartment, and shot him.She says that she had parked her car on the wrong floor, thereby mistaking Jean’s apartment for her own, which was directly below his home.last_img read more