French pension reserve fund contributes to €5bn tech investment pledge

first_imgA spokeswoman for ERAFP, France’s €29.6bn additional pension fund for civil servants, said it was also part of the investor group but could not reveal how much it would invest.Investments would be progressively directed towards tech in the context of the relaxation of its investment restrictions. ERAFP was recently granted permission to invest more in unlisted assets and mutual funds.FRR noted that the €500m it is committing is on top of a €2bn allocation to French illiquid assets that was decided several years ago and was now already largely invested.Yves Chevalier, executive director at FRR, told IPE that the €500m would be split equally across the venture capital late stage funds and the funds for investment in global listed tech companies.“These aren’t investments that we’ll be making immediately,” he said. “We’ll give ourselves the time to define a strategy to implement it in 2020 and 2021.” 25 unicorns in France by 2025Macron said the government wanted to see 25 French unicorns created by 2025.According to a report prepared for France’s economy ministry earlier this year, France had the attributes to be a leader of “the fourth industrial revolution” –  defined by the World Economic Forum as a fusion of physical, biological and digital technologies – but a lack of late-stage funding was preventing French technology companies from growing. French venture capital funds were typically smaller than their main foreign rivals, it said.Initial public offerings, meanwhile, were fairly rare in France and when they did take place, did not generally raise enough funds to transform the company in question.The report, written mainly by Philippe Tibi, the former head of Swiss bank UBS, recommended that institutional investors be invited to support venture capital funds focussed on the late-stage segment and based in France. It also recommended encouraging the emergence of global listed tech equity funds and managed by teams primarily based in France.More specifically, according to the report, France needed to attract about €10bn and recruit 50 asset managers in three years’ time. Of this total, some €8bn would have to come from institutional investors, it said.Pour la réussite de notre écosystème numérique, j’ai fixé un objectif clair : pic.twitter.com/r6KCVy5Q83— Emmanuel Macron (@EmmanuelMacron) September 17, 2019 Fonds de reserve pour les retraites (FRR), France’s €32.7bn pension reserve fund, has said it is committing to investing, by 2022, €500m in French late stage/growth funds and in global tech funds managed in France. FRR’s commitment was made in the context of a government drive to promote French start-ups and encourage so-called unicorns (privately held firms valued at more than $1bn [€900m]) to list in Paris.Last month, in connection with “France Digital Day”, Emmanuel Macron announced that French institutional investors had pledged to invest up to €5bn, split across two categories: €2bn for investments in late stage or growth companies – unlisted equities – and €3bn for global tech funds that invest in listed companies and are managed by France-based asset managers.FRR is one of the investors to have publicly disclosed its involvement.last_img read more

ST3 Offshore Starts Loading Borkum Riffgrund 2 Jackets

first_imgST3 Offshore is currently loading out the first jacket foundations for Ørsted’s Borkum Riffgrund 2 offshore wind farm at its serial manufacturing plant in Stettin, Poland.The first two jackets have already been loaded onto a barge. After loading the third jacket, the barge will be ready to depart for Cuxhaven, Germany.The sail-out is expected next week, weather permitting.The foundations will be assembled with the suction buckets in Cuxhaven, ST3 Offshore said.After all certifications and TOCs are in place, the next three jackets will be ready for transport, which is expected by the end of this month.“The load out proceeding is a difficult venture, both as an operational and as a logistic process,” said Adam Kowalski, Vice-President of the Management Board at ST3 Offshore.“The huge 120 m gantry crane, which is used by the operations, is our great advantage, but in the same time it forces us to be extremely careful and to adjust works to weather requirements. Strong winds, fog, bad visibility make some works impossible.”ST3 Offshore is in charge of producing and assembling 20 jacket foundations for the wind farm, with the Belfast-based Harland and Wolff (H&W) supplying the suction buckets.Northern Ireland’s marine manufacturer fabricated and exported the first 24 suction buckets to ST3 Offshore earlier this month.The 450MW Borkum Riffgrund 2 is located 38km off the German island of Borkum, next to Borkum Riffgrund 1.The wind farm will comprise 56 MHI Vestas 8MW turbines, expected to be fully commissioned in 2019.last_img read more

Weather advisory: A trough system is affecting the island

first_img Share Tweet Sharing is caring! 11 Views   no discussions LocalNews Weather advisory: A trough system is affecting the island by: – August 9, 2011center_img Share Share Photo credit: amild-us.blogspot.comWeather Outlook for Dominica and the Lesser Antilles, Issued: 6:00 AM on Tuesday, August 9, 2011 is as followsAn upper level trough together with moisture transported northwards by the ITCZ (Intertropical Convergence Zone) will continue to result in unstable conditions across the island chain during the next 24 hours. As a result, some periods of cloudiness, scattered showers and isolated thunderstorms can be expected across the islands during the next 24hours.Persons in areas prone to flooding, landslides and falling rocks are advised to exercise the necessary precautions.A tropical wave is located near 58W and south of 17N and is moving westward near 15 to 20 knots. A 1012mb low is located along this wave axis. Convective activity associated with this wave is expected to reach the islands by late today bringing continued showers and possible isolated thunderstorms across the island.We will continue to monitor the progress of this wave as it moves westwards.Tropical cyclone formation is not expected in the Tropical Atlantic ocean during the next 48 hours.Dominica Meterological Servicelast_img read more

NFF calls for prayers against deaths, kidnappings of players

first_img Loading… President of the Federation, Mr. Amaju Melvin Pinnick said the deaths of three footballers in a horrendous auto crash along Benin-Agbor Road on Sunday, among them Rangers International FC star forward Ifeanyi George, and the kidnappings of Enyimba FC’s Dayo Ojo and Abia Comets’ Benjamin Iluyomade in Ondo State some hours later were huge causes for concern in Nigeria’s football firmament. “These sorrowful incidents are becoming too much for us to bear. We must seek spiritual solace and seek help from Almighty God. I am short of words following these deaths and kidnappings. We must all get involved in prayers to Him to stop the tap of grief and sorrow in our football sector. “I am heartbroken. Not long ago, we lost Tiamiyu Kazeem of Remo Stars Football Club and Chineme Martins of Nasarawa United in different circumstances. We need to call on God to show us mercy and stop these unfortunate happenings.”Advertisement George, a former Home-based Eagles star who featured for Nigeria at the 5th African Nations Championship in Morocco early in 2018, died in a car crash alongside Emmanuel Ogbu, a player of Rangers International Feeder team and Eteka Gabriel, also a football player. All were in a car that ran under a stationary trailer on the Benin-Agbor Road. Some hours later, in Ondo State, Enyimba FC of Aba’s Dayo Ojo and Abia Comets’ player Benjamin Iluyomade were reported kidnapped in the Owo area of Ondo State. Read Also:Dare Mourns Rangers’ Ifeanyi George, others “We also earnestly appeal to the kidnappers of Dayo and Benjamin to release them unhurt to their families. We are going through too much at the same time, with the coronavirus pandemic also around. We need serious prayers from everyone in the football family,” Pinnick added. FacebookTwitterWhatsAppEmail分享 Promoted Content7 Universities In The World With The Highest Market Value10 Of The Most Successful Female Racers To Know AboutThe 10 Best Secondary Education Systems In The World20 Interesting Facts You Probably Didn’t Know About Siberia5 Of The World’s Most Unique Theme Parks6 Incredibly Strange Facts About HurricanesWhich Country Is The Most Romantic In The World?You’ve Only Seen Such Colorful Hairdos In A Handful Of Anime10 Phones That Can Work For Weeks Without Recharging10 Risky Jobs Some Women Do6 Best Natural History Museums In The WorldBirds Enjoy Living In A Gallery Space Created For Them Nigeria Football Federation on Monday called on all members of the country’s football family including stakeholders to pray hard in view of recent deaths and kidnappings of football players which have caused serious concern in the polity.last_img read more

Newcastle break losing run

He was even more aggrieved four minutes later when the striker fired the home side level, reacting first when Williamson turned Cheick Tiote’s cross back across goal to beat Robles. Martinez replaced James McCarthy with Ross Barkley before the restart, and it took the newcomer just three minutes to embark upon a trademark run upfield, although his pass to Kone was poor. But it was Robles’ goal which came under threat two minutes later with the keeper turning the ball aside after it ricocheted off Gouffran’s shins, although his relief was only momentary as Tiote picked out Perez on the left and he cut inside Distin before thumping a shot through Coleman’s legs and into the bottom corner. The home side were growing in confidence, but they could not afford to relax and they were grateful to see Samuel Eto’o sky a 64th-minute effort high over after Leighton Baines had out-fought Tiote on the sideline. But the visitors fell further behind three minutes later when Barkley failed to cut out Daryl Janmaat’s cross and Colback stabbed the ball past Robles to make it 3-1. Mirallas reduced the deficit with six minutes remaining when he got behind a static Newcastle defence to stab Baines’ long ball past the advancing Jak Alnwick, but that was as good as it got for the Merseysiders as they slipped to a third successive defeat. But if it was Cisse who started the ball rolling, it was Ayoze Perez and Jack Colback who completed the job with the Spaniard’s fifth goal for the club giving them a 51st-minute lead which was cemented by Colback’s first in a black and white shirt 16 minutes later, although substitute Kevin Mirallas’ late strike made for a tense conclusion. Newcastle ran out in front of a crowd of 52,313 having lost their last four games in all competitions, three of them in the Barclays Premier League, a run which included a 1-0 derby defeat by Sunderland in their last home fixture. With some bookmakers having stopped taking bets on Alan Pardew being appointed the next Crystal Palace manager, there was an air of uncertainty around St James’ Park before kick-off, although the 53-year-old and his players were concentrating simply on the 90 minutes ahead. They were boosted by the Everton team-sheet, which showed seven changes, many of them enforced by injury and suspension, to the side which lost 1-0 at home to Stoke on Boxing Day, although it was the visitors who started much the brighter. They got their reward with just five minutes gone when Aiden McGeady slid the ball into the space where full-back Paul Dummett should have been for Seamus Coleman to leave Yoan Gouffran in his wake and cross for Kone to convert from close range with central defenders Fabricio Coloccini and Mike Williamson looking on in horror. The Magpies were simply not at the races as Gareth Barry was allowed to orchestrate from the middle of the park, and when they finally managed to string two passes together, Moussa Sissoko’s touch deserted him in spectacular style as he ran on to Cisse’s 12th-minute flick. However, they gradually worked their way into the game, although without being able to find the required quality in the final third with keeper Joel Robles untroubled. Coleman was left on his backside and claiming bitterly to the referee after clashing with Cisse as the pair awaited the delivery of a set-piece, and replays suggested the defender might have had a point about the striker’s swinging arm. Papiss Cisse’s fifth goal in six games launched a Newcastle fightback as they ended a four-match losing streak with a 3-2 victory over Everton. The Senegal international cancelled out Arouna Kone’s fifth-minute opener – his first for the club on his first Barclays Premier League start for the club he joined during the summer of 2013 – with a close-range finish 11 minutes before the break . However, Toffees boss Roberto Martinez may feel the African Cup of Nations-bound frontman was lucky to still be on the pitch after appearing to catch full-back Seamus Coleman with a flailing arm four minutes earlier, and there may yet be repercussions with referee Craig Pawson having taken no action at the time. Press Association read more

Suarez Double Sees Barca Beat Atletico

first_imgBarcelona’s Luis Suarez netted twice for a 2-1 win over Atletico Madrid in their Champions League quarterfinal, first leg on Tuesday after the visitors’ Fernando Torres opened the scoring and was later sent off.After a flurry of chances for the home side, Suarez levelled from close range in the 63rd minute and then headed the winner in the 74th, giving the Champions League holders the edge before next week’s second leg at the Vicente Calderon.Despite getting off to an ideal start when Torres fired Koke’s threaded pass through the legs of barca goalkeeper Marc-Andre ter Stegen after 25 minutes, Atletico suffered a seventh consecutive defeat against Barcelona. Diego Simeone’s side had two men sent off when they lost to the Catalans in La Liga and were again punished for their indiscipline, Torres seeing red after yellow cards for fouls on Neymar and Sergio Busquets in the space of six minutes.Atletico withstood constant pressure until Suarez stabbed Jordi Alba’s low pass home from close range and the Uruguayan completed the comeback by heading Dani Alves’ cross past Jan Oblak to the delight of the Nou camp faithful.In the other match in Germany, Bayern Munich gained a slim 1-0 advantage in the clash with Benfica.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

The Afterword: In times of crisis, mass media tends to dangerously oversimplify

first_imgWe know how corrosive censorship can be, but we are also witnessing the shortcomings of a free press: Unregulated mass media outlets such as CNN profit off of our panic and play into our paranoia, with each click-bait title being more distressing than the last. It has been, and continues to be, a challenge to sift through all the bullshit and parcel out what is a real cause for concern from what is just fear-mongering. The world is at a complete standstill. I’ve been practicing social distancing in my hometown of Montreal for a week now and have spent a lot of time wondering what this week’s column would hold. The internet is exploding with coronavirus takes⁠ — a few hot, some lukewarm and most stone-cold. My opinions on the chaos surrounding the global health crisis have evolved, taking on new forms as I surf through Twitter, Instagram and a handful of news outlets, but throughout, one quote from Nobel Prize-winning physicist Niels Bohr has continued to ring true: “The opposite of a fact is a falsehood. But the opposite of one profound truth may very well be another profound truth.” I know that’s not the most helpful thing to hear; people are scared and they want answers — preferably binary ones. Unfortunately, this is more a time to be patient and reflect than one for resolution. In that same vein, I want to talk about how this pandemic has put a spotlight on how incongruent, for better or for worse, our globalized world can be. More importantly, I want to point out the role mass media and the internet have in skewing this pluralism.  On the other hand, the finger-pointing has prompted xenophobic rhetoric on a mass scale: Chinese-owned businesses have arbitrarily suffered, and President Donald Trump has called the coronavirus “the Chinese virus.” Reactions like these put writer Susan Sontag’s saying, “nothing is more punitive than to give a disease a meaning — that meaning being an invariably moralistic one” in a new light.  Yet the coronavirus outbreak is also a testament to the power of our interdependence. Many of us who are young and know the world to be divided and disparate are witnessing, for the first time ever, the whole planet experience the same thing. We are all coping in synchrony; we are all participating in lauding or criticizing each other’s strategies. Telecommunication allows us to learn from, react to and build upon ideas and each other at unprecedented speeds — at both an individual and state level.  All this is to say that there are dissonances to take note of amid the coronavirus pandemic, ones that are not and should not be easily digestible.  The way the internet handles issues transforms our experiences with them, not just because of the size of the problem but also because of the scale of our reactions. In general, online culture encourages us to address serious matters like these with a lack of nuance and context; 280-character tweets, quippy Instagram captions and five-minute soundbites rarely succeed in capturing all angles of a given problem. The result, among others, is often extreme takes at the cost of critical thinking. Extremities tend to be well-suited to gross oversimplification and are an enemy to complex, multifaceted issues. (Tiffany Kao | Daily Trojan) On one hand, the coronavirus outbreak is decisively a lesson on the dangers of a censored press. Chinese doctor Li Wenliang attempted to warn medics about the SARS-like virus in early December (well before authorities confirmed the outbreak of a novel coronavirus) and was detained by police a few days later for “spreading false rumours.” He was even forced to sign a document saying he had “seriously disrupted social order.” Just a week later, Wenliang developed a fever and ultimately passed away in early February from the virus.  The Chinese Communist Party has come under serious fire, and rightly so, for silencing a truth-seeking whistleblower and deliberately covering up what has quickly become a global pandemic.  So, I implore all my readers to put their critical thinking hats on and to remember that mass media and online platforms are more conducive to binary answers than they are to the multiple, often multifaceted, realities that define our world. I encourage you to become well-acquainted with Bohr’s idea that the opposite of one profound truth may very well be another profound truth. It may help you better reconcile with the ongoing madness. For the record, I’m not trying to draw moral equivalencies between a democracy and an authoritarian regime; rather, I’m acknowledging that a free press and a censored press beget unique problems, which vary in degree.  Yes, many established systems are falling apart in tragic ways — people are losing money and jobs by the thousands, and private healthcare is failing us — but at least the whole world is watching. This involuntary pause has forced us to take a step back and collectively recognize that we were moving too fast, that we need to work toward a more robust, sustainable way of living — one that doesn’t completely crumble at the front end of a pandemic. Our globalized world is fragile yet powerful, severed yet irrevocably bound. The oxymorons don’t end there. We are watching globalization spread and contract, expand its scope and fold in on itself, all at once. Cornerstones of modern consumerism, organized sports and live entertainment have gone silent. Air travel, once tacit and commonplace, has become a hazardous, virus-spreading machine. International supply chains that we took to be infallible have broken down faster than you can say “country-wide lockdown.” Simply put, the fragility of our defining interconnectedness is showing. For the most part, this issue won’t have easy, cut-and-dry answers ⁠— but that doesn’t mean that there are no answers at all. Rachel McKenzie is a junior  writing about pop culture. Her column, “The Afterword,” runs every other Tuesday.last_img read more

USC School of Social Work receives $60 million gift

first_imgThe USC School of Social Work has been named the USC Suzanne Dworak-Peck School of Social Work following a $60 million donation by social work pioneer and two-time USC alum Suzanne Dworak-Peck, the University announced Wednesday.“Suzanne Dworak-Peck is a visionary who has shown extraordinary leadership in her field, almost single-handedly changing how we perceive social workers,” said USC President C. L. Max Nikias in a press release. “In the trenches from the very start of her career, she has shown that her compassion and selflessness have no bounds. This gift ensures that the USC Suzanne Dworak-Peck School of Social Work will continue to stand as an innovator by which all others are measured.”According to the press release, the school has grown since its founding in 1920 to become the largest of its kind in the world, granting degrees to one out of every 20 Master’s level social workers in the United States. Vice Dean Carmen Frierson said that Dworak-Peck’s donation furthers the school’s large reach, which extends to an alumni network of 15,000. “I hope the community at large [benefits most from this endowment] in the sense that it furthers our hand,” Frierson said to the Daily Trojan. “The School of Social Work, individually, is not planning to make great change. We’re hoping to create people in the world to bring great change and to take some of the experiments and research that we’ve learned over the course of our history into the agencies that we touch.”According to Frierson, the speeches delivered by both the Dworak-Peck and the Dean Marilyn L. Flynn on Wednesday during the announcement celebration concentrated on bringing innovation into the field.“[We will be] putting social workers out there, creating social workers, going to places where social workers haven’t gone, [and collaborating] with other disciplines: engineering, data science, education, policy and planning,” Frierson said. “[We are] bringing together a team to do a great good.” Frierson added that the school will earn anywhere between 4 and 5 percent interest on the $60 million gift, which will go to fund future programs. One such beneficiary is the school’s military social work program, which helps veterans, servicemembers and their families transition from active duty into civilian life. The first of its kind at a civilian university, the program was established in 2008 and uses virtual patients to train graduate students in this specialized field.According to the press release, Dworak-Peck served as president of both the National Association of Social Workers and the International Federation of Social Workers, founded NASW Communications Network and sat on the board of the California Social Welfare Archives. She received numerous awards for her accomplishments, including an Alumni Merit Award granted in 2016 for her dedication to USC and her accomplishments in social work. “Knowing that what we’ve done has been recognized by someone who has been within the circles is very exciting; no one really knew that she had the capacity to do that,” Frierson said. “It’s like you find a jewel that you didn’t know you had.”Dworak-Peck received both a bachelor’s degree in psychology and a master’s degree in social work from USC. Because of her personal connection to the University, many members of the School of Social Work faculty see the endowment as not just a financial gift, but also a symbolic gesture. “I think to have someone to have that faith in us — that’s incredible, especially someone who has been so dedicated to the profession herself,” said Rosemary Alamo, a clinical associate professor at the School of Social Work. “She could’ve donated to pretty much anywhere.”Many students at the School of Social Work feel that the new name and funding gives the school more campus-wide recognition, especially compared to other programs.“I have a surge of more USC pride, because now I feel like we’re more recognized and more official,” said Michelle Kim, a master’s in social work candidate at USC. “I’m excited for the future generation.”last_img read more

Berg is the Word: USC’s strides are promising for the future

first_imgPlease don’t follow my example and get ahead of yourselves by thinking the Trojans have a shot at making the Final Four. This is the same team that lost three straight conference games this season and has struggled with inconsistency. They also needed a last-second shot just to beat the bubble-straddling Bruins at home. I would be surprised if USC kept up its current level of play in Vegas and shocked if they made real noise in the NCAA Tournament. It started with the best recruiting class in team history. The addition of five-star freshman forwards Onyeka Okongwu and Isaiah Mobley gave the Trojans young talent and depth to mix with senior forward Nick Rakocevic on the front line. Enfield also made the smart call of inserting graduate transfer guard Daniel Utomi into the starting lineup in place of sophomore guard Elijah Weaver, adding shooting to the starting lineup and giving the bench a capable ball handler.  This is how programs improve: attract some recruits, display growth and competence, parlay that into more high-level players and repeat. If you do it enough, it becomes a snowball effect that carries forward and allows you to get the best incoming freshmen based on name brand alone. USC is far from becoming a basketball powerhouse, but there is the layout of a plan to get there through a lot of small steps. Enfield has put together a solid squad, and now the most important stretch in the history of USC men’s basketball starts in Vegas. The Trojans have a really good chance for an at-large bid in the NCAA Tournament already (ESPN’s Joe Lunardi currently has the Trojans as a 10 seed), but they can establish themselves as a true threat with a strong showing in their conference tournament. If they can find a way to win the Pac-12 tournament, they will likely move up a few seeds. USC has made a lot of those strides so far. It must continue in Vegas if Andy Enfield wants to build something special. He was quote tweeting another post with a video of senior guard Jonah Mathews’ game-winning 3-pointer that gave the Trojans a bye in next week’s Pac-12 Tournament and likely secured the program’s first NCAA Tournament berth since 2017. For this reason, the shot is likely as important to Enfield, the team’s head coach, as it is to Mathews. Due to the lack of elite teams, there has never been a better year to be a lower seed in the NCAA Tournament. Anyone can beat anyone this year — for reference, take Duke and Kentucky losing to Stephen F. Austin and Evansville, respectively. Most seasons, you can bet on three of the Final Four teams to be top-three seeds, but the decline in quality at the top of the bracket should lead to even wilder upsets and deeper Cinderella runs this season. The higher USC positions itself, the better its chances of pulling off a deep run.center_img Former USC student and journalist extraordinaire Eric He captured the achievement of USC men’s basketball’s 54-52 win over UCLA Saturday at Galen Center best when he tweeted, “Probably the best moment of the Andy Enfield era.” But the fact that they have a chance to do so is what matters. Enfield has already continued his recruiting prowess by securing Evan Mobley, brother of Isaiah and the No. 1 recruit in the incoming class of 2024 according to 247Sports. If the Trojans can exceed expectations in both of their upcoming tournaments, they will have the chance to impress even more recruits, like Sierra Canyon’s Ziaire Williams, and entice them to don the cardinal and gold. It was an up-and-down road to get there, but Enfield has the chance to alleviate any concerns about his job security. More importantly, he has the chance to reach the pinnacle of his USC career and continue a promising trajectory for the program. Despite leading the Trojans to their winningest five-year stretch in program history, Enfield has inspired a fair amount of malaise in USC fans recently, albeit not as much as other coaches on campus. In just his third season after taking over a cellar-dweller, Enfield steered the Trojans to the tournament in 2016, and he oversaw the Trojans’ best tournament effort in a decade in 2017. However, after USC became the highest-ranked major conference team ever to miss the Big Dance in 2018 and posted a losing record despite a talented freshman class in 2019, the heat was on Enfield to deliver strong results this season. Aidan Berg is a junior writing about sports. He is also a features editor for the Daily Trojan. His column, “Berg is the Word,” runs every  other Monday.last_img read more

Gallery: Syracuse shutout again by No. 9 Robert Morris, 4-0

first_img Facebook Twitter Google+ Published on February 24, 2018 at 7:07 pm Contact Max: mefreund@syr.edu Syracuse (12-20-2, 11-8-1 College Hockey America) fell 4-0 to No. 9 Robert Morris (20-7-4, 14-3-3 CHA) on Saturday, the second time SU was shutout in as many days after a 5-0 loss on Friday night. It was the first time Syracuse was shutout on a weekend since September. The Orange begins the CHA tournament on Thursday as the No. 3 seed. Commentslast_img