Dutch electronics giants Philips makes €600m contribution to pension fund

first_imgEven though the scheme has now surpassed the legally required financial reserves of 107% coverage, it warned that it still considered itself to be in the “danger zone”, and was therefore still deliberating over the possible indexation of pension rights.The Philips Pensioenfonds said it lost 0.3% on its 70% liability-matching portfolio – meant to finance most of its liabilities, as well as 2% inflation – during the fourth quarter.In contrast, the scheme’s 30% return portfolio generated 5.5%, thanks to well-performing equity and high-yield credit.The return portfolio, which also includes emerging market debt and property, is to bolster its financial buffers and finance any surplus inflation and longevity risk, the scheme said.The pension fund attributed the 0.2% outperformance in particular to the returns on high-yield credit and commodities. Dutch electronics giant Philips is to boost the assets of its €14.9bn pension fund with an additional contribution of €600m.It said €500m would be used to increase the coverage ratio of the Philips Pensioenfonds by 3 percentage points to 111%.The extra contribution, it said, is the result of a new collective labour agreement (CAO) between the employer and the unions.The Philips scheme reported a quarterly return of 1.3%, leading to funding of 108% at year-end, and an annual return of 0.6%.last_img read more

Dirt Road Basketball Scores

first_imgThe 6th graders (15-4) will next be in action on Saturday, December 30th in the Greenfield Central High School Holiday Classic. Batesville 6th Grade @ Connersville Spartan Arena and Spartan BowlBatesville 32, Lawrenceburg 28After trailing at half-time 18-16 due to sharp shooting from 3 point range by the Tigers, the young Bulldogs did some sharp shooting of their own, firing 78% in the second half from the field to hold off Lawrenceburg.    Batesville shot 60% for the contest and outrebounded the Tigers 24-17 to overcome 16 turnovers and 7-18 from the free throw line.  Gus Prickel was solid as a floor general and led in scoring with 12.  Sam Johnson tallied 7, Jack Grunkemeyer 6, Conner Drake 4, and Chris Lewis 3.  Grunkemeyer had 7 rebounds and Drake 5.  Prickel had 2 assists. Batesville 39, Connersville 28The Bulldogs came out a bit flat after a hard earned victory earlier in the day and trailed Connersville 7-1.  After a time out to calm the team and refocus, the Bulldogs reeled off 8 straight to take a lead they would not relinquish.  The Bulldogs shot 41%from the field, outrebounded the Spartans 29-21, committed only 5 turnovers for the contest and were an impressive 12-18 from the free throw line to secure the victory and move to (10-0) in Dirt Road play.  Conner Drake led the team in scoring with9 points, Chris Lewis added 7, Gus Prickel 6, Sam Johnson 6, Jack Grunkemeyer 6, and Brendan Heiser 5.  Grunkemeyer had 7 rebounds, while Drake and Jonathan Buschle each had 5.  Heiser added 2 assists.                The 4th Graders (10-2) will next be in action on Saturday, December 30th in the Greenfield Central High School Holiday Classic The 5th grade Blue squad (5-5)  will next be in action on Saturday, December 30th in the Greenfield Central High School Holiday Classic. The 5th Grade White squad (0-10) will be off until after the Holidays when DRBL play resumes on Sunday, January 7th Batesville 4th Grade @ Batesville High SchoolBatesville 35, Milan 31Brayden Maple 13, Cayden Drake 6, William Kuisel 4, Caleb Mohr 4, Landon Raver 4, Ethan Schneider 2, Owen Enneking 2 Batesville 5th Grade White @ Rushville High School              Connersville White 34, Batesville White 15              Madison 34, Batesville White 8 Batesville 5th Grade Blue @ Rushville High School              North Decatur 23, Batesville Blue 21 (OT)              Greensburg 29, Batesville Blue 20 Batesville 47, Madison 14                              Brayden Maple 10, Cayden Drake 6, William Kuisel 6, Owen Enneking 4, Caleb Mohr 2, Ethan Schneider 2, Landon Raver 2 Good luck to all teams.  Go Bulldogs!Courtesy of Bulldogs Coach Paul Drake.last_img read more

Cricket News West Indies legend Chris Gayle to retire from International Cricket after home series against India later this year

first_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: The West Indies cricket legend Chris Gayle aka Universe Boss is set to retire from international cricket after the home ODI and Test series against India scheduled in August-September. The 39-year-old had last month stated that he would call it quits after the ongoing World Cup but speaking to the media on the eve of the game against India here, the left-hander said he has had a change of mind.”It’s still not the end. I still have a few games to go.May be another series to go, as well. Who knows, we will see what happens. My plans after World Cup? I may play a Test match against India and then I will definitely play the ODIs against India. I won’t play the T20s. That’s my plan after the World Cup,” Gayle said. West Indies media manager Philip Spooner later confirmed that the assignment against India will be Gayle’s last in national colours. “Yes, Chris will play his last series against India,” Spooner told PTI. India’s tour of West Indies comprises three T20 Internationals, three ODIs followed by a couple of Test matches.The T20Is will open the tour from August 3, the ODIs are lined up from August 8 and the Tests will take place from August 22 to September 3.In the pre-match press conference before the India game, he said, “I know there is still a slim chance for us to actually qualify but anything is possible. We are going up against India, so it is going to be a challenge. They are playing good cricket, I’m actually looking forward to it.”Gayle has appeared in 103 Tests, accumulating 7215 runs at an average of 42.19. In 294 ODI appearances, Gayle put together 10345 runs, while in 58 T20 Internationals, he has 1627 runs. The man who calls himself the ‘Universe Boss’ is a fan favourite for his flamboyant stroke-play and is considered a game-changing batsman. Chris Gayle is set to retire from International Cricket. Chris Gayle is currently playing in World Cup. Gayle will continue to feature in franchise based T20 leagues. center_img highlightslast_img read more