Berkshire fund abandons property subsidiary over Scottish devolution risk

first_img“Accordingly,” the document states, “the Council were advised that the fund would not be requesting them to set up a Scottish Limited Partnership to hold its private rented residential investments.”The Scottish parliament currently has limited tax-raising powers and is able to vary the rate of income tax charged by 3 percentage points.Under legislation currently being debated, the devolved assembly would be granted more significant powers, including over income tax rates and air passenger duties.The decision has not halted Berkshire’s acquisition of PRS assets.Greenwood confirmed in the same report that the fund bought a 70% stake in an apartment block in the town of Wokingham for £5.7m.Greenwood’s report said the building consisted of 40 flats, all of which were rented, and that the fund was expecting to yield 4% from its investment by next year. The fund was recently involved in talks with two neighbouring boroughs that would have seen the merger of the three local government pension funds (LGPS).However, Berkshire’s most recent business plan said it still hoped to reduce costs through “co-operative working with other LGPS funds” over the course of 2015-16. The Royal County of Berkshire Pension Fund has shelved plans for a wholly owned property subsidiary over the devolution of greater tax powers to Scotland.The £1.6bn (€1.9bn) local authority fund was previously considering the launch of a Scottish Limited Partnership to hold its private rented sector (PRS) housing assets as it built up a portfolio, but it abandoned the idea earlier this month.Nick Greenwood, pension fund manager for the Royal Borough of Windsor & Maidenhead, said the limited partnership idea was dropped after the UK government promised the Scottish parliament greater tax-raising powers in the wake of 2014’s unsuccessful independence referendum.In a document tabled at the fund’s most recent pensions committee, Greenwood said representatives for the pension fund and the council’s head of finance agreed that the “small risk” of loss of tax transparency for the limited partnership – “the possibility the income received in a Scottish Limited Partnership would be taxed in Scotland” – outweighed any benefits Berkshire might gain from setting up the company.last_img read more

La Verne native makes Kings history

first_imgOf course, the Kings’ exclusion from the postseason – for the fourth consecutive season – has long since been a foregone conclusion, so they were able to enjoy a moment of California hockey history. With his first-period goal, winger Noah Clarke became the first California-born player to ever score a goal for the Kings. Clarke, a native of La Verne, was playing in his 15th NHL game. Kings goalie Mathieu Garon, winless in six starts since Jan. 6, earned the victory. Michael Cammalleri scored two goals as the Kings broke a five-game losing streak. Rob Blake, who had missed four games with a strained groin, returned and had a goal and two assists. The Oilers, expected to be a Stanley Cup contender this season, have fallen into 11th place in the West and have lost eight consecutive games, so they were the perfect prey for the young Kings. The Kings had some shining moments Monday. The first one came just 2:05 into the game. Dustin Brown whiffed on a shot from the left of the net but the puck slid to Clarke, who fired a shot from the middle of the faceoff circle. Clarke’s shot, to the far post, cleanly beat Edmonton goalie Jussi Markkanen to give the Kings a 1-0 lead. The Kings extended their lead at the 5:27 mark when Aaron Miller took a slap shot from near the right boards. The long rebound came to Alexander Frolov, who slapped in a one-timer for a two-goal lead. Cammalleri’s neutral-zone turnover led to Toby Petersen’s shorthanded goal in the first period, but Cammalleri scored his first goal of the game 9:39 into the second period to give the Kings a 3-1 lead. [email protected] (818) 713-3611 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Despite their 5-1 victory over the Edmonton Oilers on Monday, in front of an announced crowd of 16,954 at Staples Center, the Kings had officially been eliminated from playoff contention before the third period. By virtue of Calgary’s shootout victory over St. Louis, the Kings became the first team in the NHL to have their playoff hopes dashed this season. With 12 games remaining in their season, the Kings can finish with no more than 83 points, and the Flames, in eighth place in the West, already have totaled 84. center_img LOS ANGELES – Do you believe in miracles? If you’re a Kings fan, don’t bother. At least not this season. last_img read more

American oil and gas production hurting Canadian commodities

first_imgHe also cited recent data showing for the first time since 1995, the U.S. added three million jobs in 2014, and noted the stronger American economy is responsible for driving up the value of the U.S. dollar.That in turn he said is hurting commodities, as they typically have an inverse relationship with the American dollar.Still, he also noted, U.S. oil demand is up about 700,000 barrels a day since November, and he therefore concluded, if the European economy starts to improve, and if China’s normalizes, the oil and gas industry should be a major beneficiary – leaving open the possibility those who have forecast the price of oil could be back to $80.00 by the end of the year could be right. Even though price of crude oil remains below $50.00 a barrel U.S., and more than 50 per cent less than it was early last summer, pump prices are being hiked across the country.Locally, a $0.08 regular litre increase started to take hold yesterday, and although it has yet to be as confirmed city-wide, as of 6:00 a.m. this morning, it looked like $1.12.09 could soon be the new common posted price.According to gasbuddy.com, that’s still $0.03.5 a litre less than the B.C. average, but it’s nearly $0.08.5 more than the national average.- Advertisement -Making any sense out of this appears next to impossible, as even oil and gas industry analysts are struggling with that challenge.One of the latest assessments however, has come from RBC Global Asset Managements Chris Beer, and he’s put the explanatory focus on the U.S. economy.In a recent Vancouver Sun article, he suggested the Americans are largely responsible for oil supply and demand being out of balance, and he noted the U.S. grew production by one million barrels a day last year.Advertisementlast_img read more

Ohio Farm Bureau sponsors Farmers Crossing

first_imgShare Facebook Twitter Google + LinkedIn Pinterest  Leave a CommentOhio Farm Bureau is teaming up with the Mid-America Restaurant Expo, presented by the Ohio Restaurant Association to promote Farmers Crossing, an all-new area dedicated to local farmers and highlighting the farm-to-table concept.The expo is an annual restaurant and food service industry trade show that takes place at the Greater Columbus Convention Center Jan. 13-14, 2019.According to the ORA, the goal of Farmers Crossing is to “embrace local sourcing of products while supporting sustainability of our agricultural community and promoting collaboration between farmers and chefs.”Ohio Farm Bureau is the presenting sponsor of Farmers Crossing.“We’re very excited to work with Ohio Farm Bureau,” said Homa Moheimani, manager of media and communications for ORA. “A big trend that is going on now and has been for a while is the farm-to-table concept and we thought that would be an exciting and dynamic aspect to bring to the expo.”Moheimani noted that Farmers Crossing will give “farmers who want to break in to the restaurant market or farmers who want to grow their market an excellent opportunity to connect with restaurateurs and other attendees at the show.”To encourage those connections, Ohio Farm Bureau will be represented at Farmers Crossing with its own display, as well as giving away two other display spaces to members via a sweepstakes.“Farm Bureau is constantly looking for ways to help growers who want to market their locally grown products,” said Brandon Kern, OFBF senior director of strategic partnerships and policy outreach. “The Farmers Crossing exhibit space at the Mid-America Restaurant Expo is an exciting way for us to connect growers with new market opportunities.”Enter to winAre you a specialty crop grower looking for new marketing opportunities? Click here to enter for a chance to win a free exhibitor space at the Mid-American Restaurant Expo’s Farmers Crossing in January. Two vendor booths will be awarded by random drawing to two separate winners. Entry forms will also be available at county Farm Bureau offices. Deadline to enter is noon, Nov. 29. For official rules, click here.  Leave a Commentlast_img read more

Mitroglou Wooed by Arsenal, Liverpool

first_imgOlympiakos striker Konstantinos Mitroglou, who is emerging as Greece’s best player and hope the team will do well in the 2014 World Cup of soccer in Brazil – where it is a 200-1 shot, is also subject to a bidding war by two of the English Premier League’s top teams, Arsenal and Liverpool, who want his fire power and scoring ability.Mitroglou, 25, has shown himself to be a clutch player and a crowd favorite with his exuberant style. Arsenal coach Arsene Wegner is said to be especially eying the Greek star to back up Olivier Giroud, while Liverpool boss Brendan Rodgers is looking for another striker to support Luis Suarez and Daniel Sturridge after being left disappointed with the form of summer signing Iago Aspas, The Daily Star reported.Mitroglou has struck for 22 goals for both club and country this season, and may be available in January for £7.5million, about $12.26 million, the report said.“If he keeps on doing well, it will be hard to keep him,” Olympiaios coach Jose Miguel Michel said. “We’ve known for some time that there has been interest from many clubs, but that’s only logical considering how well he has been doing lately.”Mitroglou is currently playing alongside Arsenal loanee Joel Campbell at the Greek champions, which Wenger may look to use to his advantage when it comes to tempting the forward to north London.Premier League high flyers Newcastle United are also looking at Mitroglou but would have a hard time convincing him not to sign with one of the more celebrated teams.TweetPinShare0 Shareslast_img read more

Blanket of smoke from BC fires cause health concerns in Vancouver

first_imgAPTN National NewsThe city of Vancouver is warning elderly, people with respiratory issues and parents with young infants to stay indoors.With nearly 200 fires burning throughout British Columbia, smoke wafting into Vancouver and the surrounding area is now causing health concerns.And with 30 new fires popping up each day, the air isn’t expected to clear anytime soon.APTN’s Tina House [email protected]last_img

SIMON NOTT The Games Greatest Commodity

first_imgI’ve recently had the pleasure of having a rare insight into the incognito world of two modern day professional punters via our #BettingPeople series. They both generally work from home, rather than the previous cut and thrust of the betting ring. The trouble most of them get when trying to avail themselves of the ‘value’ on offer is actually getting the value. To borrow a line from a pre Credit Crunch advert, those offers are often available to ‘Brand New Customers Only’, if that’s a bit strong them maybe confirmed losers, or, if in betting shops, people they don’t have down as ‘sharp’ so they have people sticking on for them.Fear not, this is not going to be another of those ‘can’t get on’ blogs because there are people that can’t get on with Star Sports either, it’s the nature of the game.Before I continue I’m going to hark back to ‘The Good Old Days’ and yes I know that there are going to be groans out there, here we go again, but humour me and join me meandering back for a couple of paragraphs.The grease that kept the betting ring running like clockwork was honesty and trust. The bookie employed change men who he trusted with the money, he employed floormen who in turn called, sometimes huge, hedge bets in over punter’s heads to other bookies, when went in the book ‘with a ring’ to be paid or drawn afterwards.Punters were also trusted, their favourite bookie would often put their bets in the book ‘cash after’ or ‘with a ring’, ‘with a ring’ being an instruction to the clerk to circle the bet to show it wasn’t paid on. Some punters weren’t given a ticket even if they’d paid on, instead the bookie would call ‘down to Mr C’ or ‘Farmer’ which would give the punter a warm glow of being a valued customer. Of course, the most famous of all the tic-tacs would relay bets between rings without a word being spoken.The change-men gave out the right change and didn’t steal any of it, the floorman paid the bets or the bookie paid the floorman, the cash after punter settled after the race, win or lose and the credit client and tic-tacs on the agreed date. The whole operation worked like a well-oiled machine.That is of course unless there was an iffy cog. When I first started working with Jack Lynn he made me roll my sleeves tidying the bag up. That humiliation/precaution due to a story that nobody really knew if it was true or not. It was a tale of a bag man that had elastic bands around his arms up his sleeves to snare notes when he plunged deep into the hod’s readies, remember the game was good then. Some people couldn’t quite grasp the notion of honesty or trust. With all that money flying around many a novice workman, given the chance to work on a racecourse, couldn’t resist supplementing his wages with a snaffled score, the bookie wouldn’t notice, of course he eventually did. A thieving workman was never given a second chance.Trust in a team was always the utmost importance, there was no place for two-faced backstabbing in bookmaking firms, if there was an issue it got dealt with face to face. Bookmakers had a strange relationship with others, it still continues today, they view rival firms as brethren but with a combatant’s eye while individual firms are rock solid and look out for each other.When we talk about getting in too deep, bookies’ sons were the worst culprits for betting with money they didn’t have. There are plenty of stories where, after seeing clever punters calling in ‘£500 – £70’ or an ‘Even Bottle’ then copping with no money ever changing hands a bookmaker’s sons would start to follow them in. Cruelly, at first, they’d win, the stakes would rise, the punter’s purple patch was over and the called in bets with a ring figure would rise.Ultimately the father would get a whisper in his ear, would pay off the son’s debt with a bollocking and hopefully a lesson learned. Floormen of course always knew better than their boss. There was a regular horror story where a workman, pocketed the requested £500 -£15 a back-bet on a rag, ‘because it couldn’t win’ then had to pay it back when it did. That took some doing at a pony a day wages, not a breach of trust so much as Sod’s Law, not so being sent of for a £300-£100, bagging a £350-£100 in the back row then copping the extra £50 when it won. These guys were inevitably caught and mostly sacked. There’s no need to go on about punters that knocked, there are too many for a short blog, but you get the drift, the whole thing worked if everyone played the game. It’s all different now of course, there’s still trust between bookmakers but very little need to rely on it in the modern say betting ring.So back to those professional punters, one of the questions I have asked modern-day stay at home professionals is why you operate alone? Most don’t totally but do have a small honourable team that they confide in and do business with, a solid nucleus of trustees. I’m the same with a couple of betting pals, sadly there’s no call for me to have big lively bets placed for me but should I go on holiday or be unable to get on for other, not shrewd reasons, I can ask them the place any bets that might arise. I go and enjoy my holiday and when I return ask if it’s a ‘blew’ or ‘cop’ and we square up accordingly. No need to see slips or ask for figures. Honesty, integrity and trust, commodities that abound in our community in ‘The Game’ but rare in others, something we pride ourselves on and cherished most of all, lose those attributes and you are nothing.Simon Nott Simon Nott is author of:Skint Mob! Tales from the Betting RingCLICK HERE FOR MORE DETAILSlast_img read more