Greencore likely to secure Uniq buy

first_imgGreencore’s purchase of chilled prepared food group Uniq looks likely to go ahead at the end of September.It means Uniq Marks & Spencer’s largest sandwich supplier will be taken over by Irish rival Greencore, the world’s largest sandwich manufacturer, after the Uniq board unanimously recommended it should accept the offer. This has been declared ’unconditional as to acceptances’ after more than 90% of shareholders indicated they would accept the deal.The boards of both firms agreed to Greencore’s cash offer in mid-July when the Greencore board said it represented an excellent fit for its growth strategy in the UK. The Irish firm said that, subject to the satisfaction of the other conditions, it expected to complete the acquisition around the end of September.Uniq, which employs 1,900 people, was recently restructured to negate the effects of its significant pension deficit.last_img read more

National Retirement Security Week: Helping our members save for retirement

first_img 27SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Lacey Yasick Lacey is the Communications Manager for the National Credit Union Foundation. She works to develop and execute all communication efforts that support the Foundation’s national programs and engagement strategy.Lacey … Web: www.ncuf.coop Details Did you know that almost half of all Americans have no retirement savings at all? This is an alarmingly high amount of people who have not been able to plan for their future. This week is National Retirement Security Week, designated to helping people put themselves in control of their future finances. This important week sheds light on the problems American’s have in saving for retirement, and actions that can be taken to increase that statistic. One-third of the American population has an income of $28,000 or less, which makes it extremely difficult to save for retirement. With all the monthly expenses that people have such as rent/mortgage, groceries, and utilities, the one thing they can put off is retirement savings. One effective way to help credit union staff, members and those in your communities understand what life might be like after retirement is through the Foundation’s “Retire on Track” Retirement Fair program. This is a goal-oriented and interactive experience, similar to Reality Fairs for teens, that allows participants to imagine their life in the future to better focus on a present plan to get there. This program is designed to help members at all stages of their life, no matter what their current retirement savings situation may be. The fair encourages participants to think about the lifestyle they wish to maintain in retirement, and develop savings goals to help them where they want to be. These fairs can be conducted at your credit union, or can be done in your community through partnerships with local organizations. It is a powerful exercise that helps individuals at to understand where their finances should be upon retirement.The good news is, many people believe they will never have enough saved for retirement but they may be wrong. “Most retirement planners tell people they will need to save 80% of what they are earning before retirement,” said Mark Lynch, Senior Program Manager at the Foundation. “In reality, the average person only needs to save about 50%-60% of their income.”The reason for this lower percentage is the expenses that individuals are paying before they retire may no longer exist in retirement. For example, many people have their houses paid off, and they save costs associated with work such as gas, eating out for lunch, and wardrobe. One of the biggest reasons is actually saving for retirement itself! In the last few years working, many people cram to save 20% of their income for retirement. Another large reason is taxation, individuals who are in retirement pay a lot less in taxes.This information tells us that the real power of the Retirement Fair is that it helps people work out what their percentage is, depending on their circumstances. It helps credit union members, staff and others to get a really good picture of what they plan to do in retirement, and work back from there to see how much they need to save. While Retirement Fairs are a great tool for helping your members save for retirement, there are other ways to help members to save. A great example of one credit union who is doing great work to help people with retirement savings is Sunmark Federal Credit Union in New York. Sunmark FCU hosts “Speed Savings” events, where members and non-members can sign up in advance to attend the event. Set up like speed-dating, attendees visit different booths and learn about lending, insurance, mortgage and savings (including retirement) with Sunmark FCU. This is an experience designed to help those in attendance who may do their banking somewhere else to see how much the credit union can save them. If they have a positive experience, they can make an appointment to come back and talk with someone, especially with a retirement planner.So, if a non-member learns that the credit union could refinance their auto-loan and mortgage, saving them $150 per month, that is $150 that person could put towards retirement savings. This is a great way to help those who may not be saving enough for retirement, or saving any at all because of their monthly expenses. NARPP’s National Retirement Security Week has many resources to help you reach members of all ages in saving for retirement. Click here to see some of those resources.  If you are interested in learning more about Retirement Fairs, you can watch this short video highlighting a fair and the impact it had on participants. You can also visit the Foundation’s website ncuf.coop to see how to download your own “Retire on Track” Guide and Materials. Together, we can work towards improving financial security for everyone. last_img read more

AP1, Bpf AVH among investors settling with Brazil’s Petrobras

first_imgOther European plaintiffs include the London Borough of Hounslow Superannuation Fund, and Hampshire County Council Global Equity Portfolio.US retirement funds bringing the action include the New York City Fire Department Pension Fund, the Ohio Public Employees Retirement System and the Boeing Company Employee Retirement Plans Master Trust.AP1 told IPE the reason it became a plaintiff was because of its “assessment of a more favourable outcome of the case”.The Petrobras scandal erupted after prosecutors and federal police in Brazil first uncovered a price-fixing cartel in 2014.The cartel operated between several firms carrying out construction and service work for Petrobras, whose executives decided between themselves which company would “win” a particular contract.The work was then carried out at inflated prices, with some of the surplus used to bribe Petrobras officials and Brazilian politicians.The plaintiffs in the four lawsuits had bought Petrobras securities, traded on the New York Stock Exchange, between 16 October 2010 and 15 May 2015.These included both American depositary receipts (ADRs) and bonds.The plaintiffs claimed the price of these securities had been artificially inflated because of the fraud, and that Petrobras had made false statements of material fact and omitted adverse information relating to its financial position and its anti-bribery and anti-corruption policies.As the scandal unfolded, the value of Petrobras securities fell substantially.In a press release, Petrobras said it would recognise a provision in its third-quarter financial statements as a result of the settlements, and the status of ongoing negotiations with certain other individual plaintiffs.At present, the company expects the provision to amount to $353m (€318m).The oil company said: “Petrobras denies all allegations of wrongdoing and continues to defend itself vigorously in all pending actions. The settlements, the terms of which are confidential, are aimed at eliminating the uncertainties, burdens and expense of ongoing litigation.”A number of similar lawsuits against Petrobras, including the action led by the Universities Superannuation Scheme, are still in progress. Investors including Swedish buffer fund AP1 and Dutch agricultural sector pension fund Bpf AVH have agreed a settlement with Petrobras in four individual securities actions brought in the US, following the bribery and fraud scandal at the Brazilian state oil giant.The lawsuits were filed in the US district court for the Southern District of New York.They were led by the PIMCO Total Return Fund, the Dodge & Cox International Stock Fund, the Janus Overseas Fund and Al Shams Investments.PIMCO is one of the largest bondholders in the Petrobras group, and Dodge & Cox is one of the largest shareholders after the Brazilian federal government and affiliated entities.last_img read more

ISP investigating inmate death

first_imgRushville, In. — Indiana State Police are investigating the death of an inmate in Rush County.The report says Shane Michael Koors, 30, was arrested for an active warrant in Franklin County and transported to the Rush County Jail early Friday morning.When Koors arrived at the jail he began to suffer a medical incident. Koors was immediately transported to Rush Memorial Hospital where he later died.Investigators are waiting for the results of toxicology tests.last_img

AUDIO: Joy Sports soundbites of the year

first_imgIn the concluding part of Joy Sports year in review, we bring you a four minute audio of the top sporting moments.From Razak Braimah’s penalty miss to sex scandals to Sepp Blatter’s woes at FIFA.Enjoy four minutes of the best in sports 2015https://soundcloud.com/addojnr/gh-sports-2015-final-rundown-in-4minutes–Follow Joy Sports on Twitter: @Joy997FM. Our hashtag is #JoySportslast_img

Not done with your Christmas decorating? Check out what’s on sale at Barbara Jon’s

first_imgDash into Barbara Jon’s for this awesome sale on Christmas decorations and much more. Jim Shore and Heart of Christmas Santa figurines are 20% off!  Buy 10 Christmas ornaments and receive 15% off.As always gift wrapping is free.  You are sure to find that “just-right” holiday gift at Barbara Jon’s, 107 N. Washington.   Keep up to date on their specials and sales by viewing their Facebook Page:   https://www.facebook.com/Barbara-Jons-379524042164020/?fref=tslast_img