Boeing will need ‘several quarters’ to return 737 Max fleet to skies

first_imgBoeing suspended production of its best-selling aircraft in January, 10 months after regulators grounded the plane following two fatal crashes linked to a software issue. The company said last week it had discovered another software problem on the plane, but still aims to get the jet flying again by mid-2020, a deadline it previously said includes room for additional flaws.The time needed to return the Max fleet to service, before Boeing picks up the pace of production, will do little to ease pressure on Boeing’s suppliers.Spirit AeroSystems Holdings, a maker of fuselage, engine pylons and wing components which depends on the Max for half of its sales, has slashed its dividend to preserve cash and laid off 2,800 employees. Supplier United Technologies has said sales and profit will take a hit this year from the crisis that has engulfed the Max.One key element of returning the jet to service is training pilots on simulators. While countries like India have advised Boeing to set up simulators locally, Tinseth on Tuesday said existing equipment should cover all training requirements.“The training that will be linked to the Max is manageable with the simulators that are in the market,” Tinseth said. “If we look at the footprint today that we see in the market, we look at the retraining that is going to be needed to bring those planes back into the marketplace, we’re OK.”Topics : Boeing said it will take “several quarters” to return the global 737 Max fleet to the skies following a grounding that has left about 700 planes on the tarmac.“We are not going to over-stress the system,“ Randy Tinseth, Boeing’s vice president for marketing, said in an interview Tuesday at the Singapore Airshow.The Chicago-based manufacturer will first ensure the 400 planes with customers and the 300 more stored in factories are flying again before ramping up production, Tinseth said. “The process of doing this will take several quarters,” he said.last_img read more

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Israeli supreme court allows surrogacy for same-sex couples, single men

first_imgIsrael’s supreme court on Thursday authorised surrogacy for same-sex couples and single men wishing to have children.Only heterosexual married couples were able to access surrogacy in Israel until 2018, when a law was passed permitting it for single women or those unable to bear children — but not for same-sex couples or single men.”We have won! It’s an emotional day when Israel has finally taken a step towards the advanced countries in the world on rights for LGBT people,” Julien Bahloul, spokesperson for the Association of Israeli Gay Fathers, said in a statement. Bahloul launched an appeal against the law in 2018.”We are happy that the supreme court has made this courageous and just decision,” he added.The court said Thursday that parliament “has 12 months to put an end to the discrimination against same-sex couples and single men”.The decision comes just days before a general election in Israel, a country considered a trailblazer for gay rights but where same-sex relationships remain a taboo among religious conservatives.Parties allied with Prime Minister Benjamin Netanyahu, in particular ultra-Orthodox groups, are vehemently opposed to allowing surrogacy for LGBT people and single men.Netanyahu’s main rival Benny Gantz, head of the centrist Blue and White party, said that only a government led by him could put forward a law in line with the supreme court decision.Topics :last_img read more

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People moves: Mercer appoints UK leader; Lærernes boss to retire [updated]

first_imgFrancesco Martorana, GeneraliGenerali – Francesco Martorana (right) has been appointed CEO of Generali Insurance Asset Management (GIAM), effective 1 April. He is currently GIAM’s head of investments, a role the company said he would keep for the time being.Martorana joined Generali in 2013 as head of group asset liability management and strategic asset allocation. He has previously worked in management positions for Allianz in Italy and Germany.He succeeds Santo Borsellino , who has led GIAM as CEO since 2013. Borsellino has become chairman of GIAM’s board and head of investments and asset management, corporate governance, implementation and institutional relations. BMO Global Asset Management – The $260bn (€231bn) investment house has hired Stewart Bennett as global head of alternatives, responsible for the group’s newly formed alternatives business that includes private equity, real estate and real estate securities.Bennett will join on 7 May from Ondra Partners , an independent investment bank, where he was head of its financial institutions group. He has also held a similar role for Dresdner Kleinwort.Notariaat – The €2.8bn Dutch pension fund for notaries and their staff has appointed Laetitia de Leede as a trustee, representing employees. She succeeds Toon Baakman , who was employer chair until January. His role was taken over by board member Adri Jansen. De Leede has more than 25 years’ experience in financial services.BNP Paribas – Geert Lippens has been named chief executive and country head for the Netherlands at BNP Paribas, responsible for all the company’s Dutch group entities. He succeeds Daniel Thielemans , who held the role since 2016. Lippens was previously head of leveraged platforms and energy.Buck – The UK consultancy has made four new hires to its team as it seeks to expand its offering. Peter Dean joins from technology provider Broadstone as a senior investment consultant for defined benefit and defined contribution clients. Jamie Patterson has also joined as a senior investment consultant and principal, having previously worked for PwC. He will have particular responsibilities for Buck’s work on fiduciary manager oversight.Jenny Richards joins from BBS as a senior consulting actuary. She has also worked on committees at the Institute and Faculty of Actuaries and the Association of Consulting Actuaries.Stuart Cameron has been appointed a senior benefit consultant. He was previously at XPS and will focus on provide benefits support to clients.Kirk Kapital – Bjarne Graven Larsen has been appointed as the new chairman of Kirk Kapital, the investment company for the Kirk Johansen families, who are descendants of Lego founder Ole Kirk Kristiansen.Graven Larsen, who recently set up his own asset management firm Qblue, will replace Casper Kirk Johansen in the role. Kirk Johansen will become deputy chair. Oscar Mosgaard , senior industry expert at investment firm Triton, has also been appointed to the board, while Jens Jørgen Madsen and Leif Hasager have stepped down.Graven Larsen was CIO at Ontario Teachers’ Pension Plan for two years, and was CIO at ATP between 1999 and 2010. Mosgaard, meanwhile, was managing partner at Danish investment firm FIH Partners until 2014.Aon – Marleen Lemmens is to start as chief transformation officer at Aon Netherlands. She has been tasked with improving efficiency in operational processes at Aon’s Dutch divisions, focusing on improving service provision through digitisation and innovation. Lemmens has more than 25 years of experience in operations, transformation and optimising processes in financial services.Local Pensions Partnership (LPP) – Joanne Darbyshire has been appointed as director of pension administration for the UK local authority pension collaboration. She has previously held several senior roles at Co-operative Group , and is currently a non-executive trustee and director at Leasehold Knowledge Partnership.LPP provides pension administration services to more than 590,000 members in 17 public sector pension schemes.Candriam – The €115bn asset manager has named Matthieu David as global head of financial institutions and partnerships. He will take on the role alongside his existing responsibilities as head of Candriam’s Italian branch.In the newly created role, David is responsible for global distribution for financial institutions, including banks and insurers. In Italy, he has helped Candriam’s assets under management grow by more than 200% to €7bn.David joined Candriam in 2015, and was previously head of external distribution in Italy for BNP Paribas Investment Partners. He has also worked at Fortis, Edmond de Rothschild and AXA.State Street Corporation – Francisco Aristeguieta is State Street’s new CEO for its international business, the financial services giant announced this week. Aristeguieta will join in July from Citigroup , where he was most recently CEO of its Asia business.He also led Citigroup’s Latin American business, and has worked as vice chairman of Banco de Chile. Aristeguieta will be responsible for State Street’s business activities outside the US, the company said, including strategy, client engagement, talent development, and growth opportunities.PTL – Dawn Harris has joined UK independent trustee company PTL as chief operating officer, a newly created role. She joins from Oury Clark , an accountancy and solicitors company, where she was director of finance.Richard Butcher, managing director at PTL, said Harris’ appointment reflected the company’s “extremely ambitious” growth plans. Jupiter/Columbia Threadneedle – European equities manager Mark Heslop has left Columbia Threadneedle Investments to join UK listed asset manager Jupiter . Subject to regulatory approval, Heslop will join in September. Jupiter plans to launch a European small cap equities fund, which Heslop will manage.At Columbia Threadneedle, Heslop ran a £2.7bn (€3.1bn) European small cap strategy as well as working on the company’s global small cap products.Columbia Threadneedle has promoted two investment staff in response to Heslop’s departure. Equity analyst Mine Tezgul is to become deputy manager of the Europe ex-UK Small Cap portfolios, supporting head of European equities Philip Dicken, while Scott Woods has been named manager of the Luxembourg-domiciled Threadneedle Global Smaller Companies fund. He was previously deputy portfolio manager.Association for Financial Markets in Europe (AFME) – Founding CEO Simon Lewis will step down from his role at the end of his contract in October. He joined the European banking lobby group in 2010, and has overseen its growth to more than 80 people in three offices.During his period as CEO he led the association’s engagement with the European Commission on issues including the capital markets union, banking union, and the implementation of MiFID II, as well as AFME’s work on Brexit.The AFME board has begun its search for a successor “to ensure there will be time for a smooth handover”.Van Lanschot Kempen – The supervisory board (RvC) of Van Lanschot Kempen has nominated RvC chair Willy Duron for reappointment for a two-year period. It said it hadn’t been able to find a suitable new candidate during an 18-month search.Achmea – Achmea has appointed Roelof Joosten as a member of its supervisory board for a four-year term. He is to succeed Antoon Vermeer , who has completed his maximum term. Joosten was chief executive of dairy firm FrieslandCampina from June 2015 to January 2018, after joining the firm’s executive board in 2012.This article was updated on 29 April to amend Buck’s company name. Mercer – The consultancy giant has hired Sylvia Pozezanac (pictured) as its UK CEO. She joins next month, subject to regulatory approval, and will replace Fiona Dunsire , who is set to become Mercer’s global wealth leader.Pozezanac was previously senior managing director for Prudential Financial ’s client management unit, based in New York. Before her six-year spell with Prudential she had a 26-year career with Willis Towers Watson in a number of senior leadership roles in retirement and insurance. She also oversaw elements of the merger between Watson Wyatt and Towers Perrin in 2010. In her new role, Pozezanac will be responsible for integrating the Mercer and Jardine Lloyd Thompson (JLT) teams, after Mercer’s parent Marsh & McLennan completed its purchase of JLT earlier this month.Martine Ferland, president and CEO of Mercer, said Pozezanac was “the ideal person to lead our business in the UK”. Ferland also thanked Dunsire for her work leading the UK business since 2013, highlighting her “tireless work to improve opportunities for women and minorities across the industry”.Lærernes Pension – Paul Brüniche-Olsen has set the date for his retirement from his role as chief executive of Lærernes Pension. He will step down on 1 October, the Danish pension fund fund announced, having headed up the fund for teachers since 1995, and for most of its 26-year history.center_img Mercer, Lærernes Pension, Generali, BMO, Notariaat, BNP Paribas, Buck, Kirk Kapital, Aon, LPP, Candriam, State Street, PTL, Jupiter, Columbia Threadneedle, AFME, Van Lanschot Kempen, Achmealast_img read more

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​Extinction Rebellion group claims responsibility for AP7 hoax

first_imgIPE forwarded the email to AP7, which is reporting the matter to Swedish police.In the UK, Extinction Rebellion activists disrupted a local authority pensions conference last year, also with the aim of bringing about fossil fuel divestment. A local group of environmental activists in Stockholm has claimed responsibility for a news hoax perpetrated on Monday against AP7, the buffer fund in Sweden’s first pillar premium pension system.IPE received an email late on Tuesday from Extinction Rebellion Stockholm, saying it had sent a press release posing as the Swedish national pension fund, in which it claimed AP7 was to divest ownership in all companies with fossil fuel operations.The group said it wanted to turn a spotlight on AP7’s investments in companies operating in the fossil fuel business, and push the buffer fund towards divestment.Tuesday’s email contained a Swedish mobile phone number identical to the contact number on the fraudulent message received on Monday, which IPE called and was able to verify that the two communications were from the same source.last_img read more

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Klopp wants Liverpool to challenge Chelsea for Leipzig striker

first_img Loading… Werner is one of the most coveted forwards in the European game and has attracted interest from Bayern Munich and Real Madrid as well as the two Premier League sides. And initially it was the Blues who appeared to be in pole position for the 23-year-old Germany international after having their transfer ban reduced late last year.Advertisement But Jurgen Klopp is also a fan of the Leipzig forward – who has struck 20 goals in 18 Bundesliga appearances so far this season – and is now prepared to go head-to-head with Frank Lampard to get his man. Read Also:Klopp: How Arsenal can get back on top Leipzig meanwhile remain top of the Bundesliga after Werner’s double earned them a 3-1 victory over Union Berlin on Saturday. FacebookTwitterWhatsAppEmail分享 Liverpool and Chelsea are chasing RB Leipzig striker, Timo Werner. The Mirror says Liverpool are challenging Chelsea for £60m Werner. Promoted Content8 Superfoods For Growing Hair Back And Stimulating Its Growth6 Incredibly Strange Facts About HurricanesFantastic-Looking (and Probably Delicious) Bread ArtBirds Enjoy Living In A Gallery Space Created For ThemThe Very Last Bitcoin Will Be Mined Around 2140. Read More9 Facts You Should Know Before Getting A Tattoo7 Black Hole Facts That Will Change Your View Of The UniverseReal World Archaeological Finds That Would Stump Indiana Jones7 Universities In The World Where Education Costs Too Much10 Risky Jobs Some Women DoCouples Who Celebrated Their Union In A Unique, Unforgettable Way6 Reasons Sharks Are Afraid Of Dolphinslast_img read more

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Chelsea close in on Schurrle

first_imgAndre Schurrle’s projected move from Bayer Leverkusen to Chelsea has moved a step closer after the Bundesliga club’s general manager said a fee has now been agreed. Schurrle, who is understood to have agreed personal terms with the Blues, is on international duty for Germany in the USA and will likely head straight to London to finalise the deal following his release from the national team. The 22-year-old is set to join the Europa League winners in a reported £20million deal that will see Belgium international Kevin de Bruyne move in the opposite direction on loan. “We have reached an agreement with Chelsea,” Wolfgang Holzhauser told the Rheinische Post newspaper. “They are going to buy Andre Schurrle for a specific fee and, in return, they will loan De Bruyne to us for a year for free. “I expect Chelsea to stand by what has been agreed.” De Bruyne’s involvement was key to the agreement being struck, but speculation linking the player with Champions League runners-up Borussia Dortmund had thrown the deal into doubt. center_img Press Associationlast_img read more

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‘Stoke interested in Paulinho’

first_img Press Association Aldo Spinelli said the 28-year-old, who scored 15 goals in 35 Serie A matches last term, is also attracting attention from Abu Dhabi. “Al Jazira have already spoken with Paulinho, but Stoke City also want him and there are also a couple of other English clubs,” Spinelli told Gazzetta dello Sport. Stoke are one of a number of English sides interested in Livorno’s Brazilian striker Paulinho, according to the Italian club’s president. center_img “We will take the decision which is best for everyone together. “What I can say is that the negotiations (with Al Jazira) have started and in the coming hours we will know more about this, with everything still open, and talk to the player to work out the best opportunity.” last_img read more

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NFF Denies Recalling ‘Banned’ Coach Salisu Yusuf to Eagles

first_imgDuro IkhazuagbeNigeria Football Federation (NFF) has denied recalling Chief Coach of the Super Eagles, Salisu Yusuf whose one-year ban from football lapsed on Wednesday.Yusuf was investigated by the Ethics and Fair-play Committee of the NFF after the former Ranchers Bees player was seen in a sting documentary in which he accepted 1,000 US dollars from an undercover reporter disguising as a player’s agent. Salisu Yusuf The former Enyimba and Kano Pillars coach allegedly received the money to influence his team selection for the 2017 WAFU Cup of Nations Cup in Ghana and the 2018 CHAN in Morocco.The four-man members of the Ethics and Fair-play Committee include; Malam Nuhu Ribadu (Chairman), Mainasara Illo, Rev. Justin Okoroji and Mr Joshua Onoja (Secretary).But after a press statement yesterday from the Director of Communications at the Glass House, Ademola Olajire to the effect that Yusuf’s one-year ban had lapsed was interpreted to mean that the gaffer was free to return to his duty post, the social media was awash with vitriolic from football fans and critics.The decision to recall Yusuf was condemned, with some threatening to stage protests at the Glass House in Abuja if indeed the coach was back to his Eagles job.Olajire later in the evening told THISDAY that Coach Salisu Yusuf has not been recalled but that he has completed the one-year ban.“Coach Salisu Yusuf has not been recalled. What I said in that statement was that he has served the one-year ban. It is on the board of the federation that can determine whether to recall him or not,” observed Olajire last night.The 1,000 US dollars cash gift offered by Tigers Player’s Agency, (an undercover reporter), was purportedly on behalf of players Osas Okoro and Rabiu Ali, for their inclusion in the list of players for the 2018 CHAN competition in MoroccoMeanwhile, the NFF has praised the performance of the Olympic Eagles in qualifying for the 3rd Africa U23 Cup of Nations after a 5-0 mauling of their Sudanese counterparts, just as it noted the impressive streak of the National Teams in qualifying for major competitions.NFF General Secretary, Dr. Mohammed Sanusi, said on Thursday that the federation was elated at the performance of the U23 boys, not only for the high score win, but also for the steel, savvy and smoothness with which the performance was delivered.“The 5-0 victory was very sweet, but what made it sweeter was the way it was delivered. And from that game and from the delivery of the Super Eagles in the friendly with Ukraine later that night which ended 2-2, we can confidently say that the future of the Nigeria senior team is bright.“We had a very young team out there in Ukraine as a result of the forced withdrawal of some of the old breed, yet they delivered a heartwarming performance that everyone was proud of.”Sanusi noted that the qualification of the U23 boys for the Olympics qualifying tournament in Egypt meant that none of the national teams had failed to qualify for a major tournament in the past 18 months.“The last Nigeria team to fail to qualify for a major competition was the U-17 girls, when they lost to Cameroon on the away goal rule in January 2018, in the final qualifying round for the FIFA U17 Women’s World Cup.“Since then, the Super Eagles have played at the FIFA World Cup in Russia; the Falconets have played at the FIFA U20 Women’s World Cup in France; the Golden Eaglets have won the WAFU Cup in Niger Republic; the Super Falcons have played at and won the Women AFCON in Ghana and; the Supersand Eagles have qualified for the FIFA Beach World Cup from the African finals in Egypt.“The Flying Eagles have qualified for the FIFA U20 World Cup and played at the finals in Poland; the Golden Eaglets have qualified for the FIFA U17 World Cup taking place in Brazil later this year and; the Super Eagles have played at the biggest-ever AFCON and came back home with the bronze medals.”Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

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Government commits to opening further clinics to tackle problem gambling

first_img UK Prime Minister Theresa May has announced plans to address compulsive gambling as part of a £20.5bn NHS shake-up. The proposed treatment centres will provide access to mental health services for the 500,000 adults and young people with gambling problems. There is currently only one clinic that specialises in treatment for compulsive gamblers in the UK, which is insufficient for treating those with problems and those at risk. Health Secretary Matthew Hancock is tasked with overseeing the initiative.Under May’s plan for the NHS, the health service will receive an additional £20.5bn by 2023, which will help fund the new facilities.Marc Etches, CEO of GambleAware, celebrated the proposal: “For the past 10 years GambleAware has funded the National Problem Gambling Clinic at CNWL NHS Foundation Trust and, as a charity, we are immensely proud of how the clinic has demonstrated the contribution the NHS can make to the treatment of gambling addiction. “Too often, those with gambling addiction suffer in silence, which is why we will continue to work closely with the NHS to help make sure there are good links between the services we commission and those commissioned by the NHS.”The decision is overwhelmingly positive for the gambling industry as a whole. The onus of tackling problem gambling is no longer solely with the gambling industry, and demonstrates the government’s willingness to address the issue. Dr Henrietta Bowden-Jones, founder of Central North West of London’s NHS National Problem Gambling Clinic, was recently awarded an OBE in recognition of her services to addiction treatment and research. She announced that she would be dedicating her award to the children of addicts. Bowden-Jones expressed her appreciation upon receiving the award: ”I would like to express my gratitude to this government for taking seriously the issue of gambling disorder and the harm it causes not just to problem gamblers but to their spouses and children.”She added: “I am truly delighted to have received this honour for my work in addiction treatment and research having dedicated my entire professional life to this disease.”Work is currently underway to open treatment centres in both Leeds and Lancashire. Leeds will be the home of the first problem gambling clinic outside of London and is expected to open in April of this year. GambleAware has contributed £1.2m towards the opening of the clinic.The clinic will be operated by a partnership formed between the Leeds and York Partnership NHS Foundation Trust and the GamCare Network.The funding for some problem gambling treatment from the NHS has long been an ambition for stakeholders given the vast amount of tax revenues the industry provides the Treasury. It is perhaps reflective that the current Health Secretary arrived at the Department of Health directly from the DCMS where Hancock was involved in key gambling issues such as the horseracing levy and FOBT stakes in his short time as Culture Secretary. Marc Etches to step down as CEO of GambleAware in 2021 August 14, 2020 Share Share GambleAware: Engage those with lived experience of gambling harms August 28, 2020 Related Articles Submit StumbleUpon YGAM focuses on BAME community engagement with CVR link-up August 21, 2020last_img read more

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