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ON JUNE 9 Sweden’s King Carl XVI Gustaf formally opened Banverket’s reconstructed Svealandsbanan regional main line between S
The International Financial Reporting Standards Interpretations Committee (IFRS IC) has instructed its staff to look again at the drafting of a proposal to amend its guidance on the so-called asset ceiling requirement.That guidance is set out in IFRIC 14, “The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction”.It interprets the requirements of International Accounting Standard 19 (IAS 19), Employee Benefits.The issue is believed to be of particular relevance to plans in the UK. Summing up their approach to the issue, IFRS IC staff argued at a 13 May meeting that the committee should amend IFRIC 14 to clarify that a trustee’s “power to augment benefits, to wind up the plan or to buy annuities is not directly relevant to recognition of an asset”.Under discussion by the committee is whether a defined benefit (DB) plan sponsor can recognise a right to access a plan surplus as a balance-sheet asset in circumstances where trustees can restrict in some way the sponsor’s right to that asset.Aon Hewitt pensions-accounting specialist Simon Robinson told IPE that it was “the right to a refund at some point that is paramount”.He added that uncertain future events not wholly within the control of the entity “could affect the amount of the surplus but do not affect the right to a refund of that surplus”.Robinson added that he expected the committee to struggle to finalise the drafting of the amendment within the confines of IAS 19.“Personally, I think it would be hard within IFRIC 14 – which is, after all, just an interpretation of IAS 19 rather than a standard in its own right – to change this approach,” he said.Paragraph 64 of IAS 19 limits the net defined benefit asset an entity can recognise in its accounts to the lower of the plan surplus or the asset ceiling.The standard goes on to define the asset ceiling as “the present value of any economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan”.And paragraphs 11 and 12 of IFRIC 14 clarify that a refund is available if the sponsor has “an unconditional right” to a refund. Earlier this year, the IFRS IC received a request to clarify whether the right of pension plan trustees to increase member benefits or wind up a plan affected an employer’s unconditional right to a refund of plan contributions.Experts familiar with the issue noted that the problem had arisen because the IFRIC 14 deals with recognition of a refund rather than the measurement of the amount of refund to which an entity might ultimately be entitled. Speaking during the 13 May meeting, committee member Tony de Bell said: “What you need to think about is whether or not the trustees have the ability to say you can’t have the surplus. Because, if the trustees don’t have that ability, then I think you have the right to that surplus as it exists today.”PwC’s audit partner noted that IAS 19 was about accounting for the surplus as it exists today, not what it might be at some stage in future.The IFRS Interpretations Committee published IFRIC 14 in 2007.The committee is responsible for interpreting the requirements of IFRSs. It can also recommend the IASB make an amendment to a standard to clarify its requirements.
Spain’s Naturgy swung to profit during the first half of 2019, following a loss reported in the corresponding quarter last year.The company reported a net income of €592 million ($660 million) which compares to a €3.3 billion loss ($3.6 billion) in the corresponding period last year.In Gas & Power, the first-half results have been driven by improvement in services sales, which has experienced a strong margin recovery in power supply, more than offsetting a more challenging scenario in international LNG and Europe power generation, Naturgy said in its report.The company’s new commercial policies and de-risking efforts, together with efficiencies, have also helped offset the global decline in gas prices during the period, the report says.The company noted in its report that its gas sales declined by 8.3 percent to 116.1 TWh during the period under review, mainly due to lower sales in the Spanish residential and industrial segments.Its international LNG sales slumped 21.1 percent to 60.6 TWh as short-term sales dropped by 49.6 percent. On the contrary, long-term sales have grown by 56.5 percent, the company said. In terms of its de-risking efforts, Naturgy said it has already secured approximately 90 percent of its LNG volumes for the year.Naturgy’s net sales for the period reached €11.6 billion, 4.4 percent below the €12.1 billion reported in the first half of 2018. This was due to lower energy prices and volumes sold in the liberalized businesses that offset the growth in the infrastructure activity.
After failing to get out of their group for the last two seasons, City are keen to avoid an unwanted hat-trick. Yet Manuel Pellegrini’s first season in charge of the Blues also coincides with a sense of weakness at Manchester United, who are adjusting to the massive change triggered by Sir Alex Ferguson’s departure. Press Association Manchester City new-boy Fernandinho is targeting a massive haul of points before the Blues launch their latest European adventure. It leaves Fernandinho to conclude City need to hit the ground running and gather in as many points as possible in the four games prior to that first Champions League match, which leads into the opening Manchester derby of the season. “It is important to start strong,” he said. “We need to get as many points as possible in those first few games. It is not a question of thinking about United. We have to think about ourselves. “It is important before the Champions League starts in mid-September to get as many points as possible because after that we are playing Saturday-midweek all the time and it gets harder.” In leaving Shakhtar Donetsk for City in a deal estimated to be worth £30million, Fernandino was following the same path as another Brazilian, Elano, trodden six years ago. Initially, Elano was superb, but as his debut season developed he found the going much tougher. The demands of the Premier League eventually proved too much and after two years he had left for Galatasaray. Although Fernandinho’s career suggests he is made of sterner stuff and some pundits, including Jamie Redknapp, have predicted big things from the 28-year-old, his slight frame does nothing to dispel worries he might find the adaptation process equally troublesome. “The Premier League is a very strong competition,” he said. “It is very tough and a different style of football. Obviously I don’t have any experience of English football, so I don’t know what the effects will be. “I want to train and practise as much as possible. I want to have a balanced season, always playing at the same level.”
(REUTERS)-Wayne Parnell and Imran Tahir took three wickets each as South Africa cruised to an eight-wicket victory over Sri Lanka in the first one-day international in Port Elizabeth yesterday.South Africa won the toss and elected to bowl, restricting the tourists to 181 all out in 48.3 overs on a slow wicket.The home side never looked troubled in their reply, reaching their target with 94 balls remaining to take a 1-0 lead in the five-match series.Kusal Mendis (62) provided lone resistance for Sri Lanka, who were rocked by two early strikes from left-arm seamer Parnell (3-48), before leg-spinner Tahir (3-26) ripped through their middle-order.The touring side managed just 18 boundaries as South Africa bowled a tight line with all-rounder Chris Morris (2-29) impressive on his return from injury having last played in June.Quinton de Kock (34) and Hashim Amla (57) put on 71 for the first wicket in South Africa’s reply, before the former offered a simple catch to Sandun Weerakkody at cover off the bowling of Lakshan Sandakan.Amla posted his 31st ODI half-century before he was caught and bowled by Asela Gunaratne, undone by the lack of pace in the pitch as he got his timing wrong.But Faf du Plessis (55 not out) and AB de Villiers (30 not out) steered South Africa home with ease.For skipper De Villiers it was a triumphant return in his first ODI for seven months having been sidelined by an elbow injury.South Africa have now won their last seven ODI matches having whitewashed Australia 5-0 at home in October.The second match of the series against Sri Lanka is in Durban on Wednesday.SRI LANKA InningsN. Dickwella lbw b Parnell 1S. Weerakkody c Amla b Parnell 5K. Mendis lbw b Tahir 62D. Chandimal b Tahir 22U. Tharanga c Duminy b Tahir 6D. de Silva c du Plessis b Parnell 28A. Gunaratne run out (Morris, de Kock) 10N. Kulasekara c de Kock b Rabada 17J. Vandersay lbw b Morris 8S. Lakmal b Morris 3L. Sandakan not out 2Extras (lb-5 w-12) 17Total (all out, 48.3 overs) 181Fall of wickets: 1-1 N. Dickwella,2-14 S. Weerakkody,3-86 D. Chandimal,4-99 K. Mendis,5-102 U. Tharanga,6-126 A. Gunaratne,7-155 N. Kulasekara,8-170 J. Vandersay,9-170 D. de Silva,10-181 S. LakmalBowling: K. Rabada 10 – 1 – 35 – 1, W. Parnell 10 – 1 – 48 – 3(w-5),C. Morris 9.3 – 1 – 29 – 2(w-5), A. Phehlukwayo 7 – 0 – 31 – 0(w-1)I. Tahir 10 – 0 – 26 – 3,J. Duminy 2 – 0 – 7 – 0(w-1).SOUTH AFRICA InningsQ. de Kock c Weerakkody b Sandakan 34H. Amla c&b Gunaratne 57F. du Plessis not out 55A. de Villiers not out 30Extras (lb-2 w-2 pen-5) 9Total (for 2 wickets, 34.2 overs) 185Fall of wickets: 1-71 Q. de Kock,2-131 H. AmlaDid not bat: J. Duminy, D. Miller, C. Morris, W. Parnell, A. Phehlukwayo, K. Rabada, I. TahirBowling: N. Kulasekara 5 – 0 – 20 – 0,S. Lakmal 6 – 1 – 29 – 0(w-1),D. de Silva 2 – 0 – 9 – 0,J. Vandersay 7 – 0 – 51 – 0,L. Sandakan 8 – 0 – 35 – 1(w-1), A. Gunaratne 5 – 0 – 19 – 1,K. Mendis 1.2 – 0 – 15 – 0.
— The St. Louis Blues say a relative of a team employee has tested positive for COVID-19. The person is in self-isolation along with members of the person’s family, according to the team. All Blues staff who may have come into close contact with the employee have been notified. The team says it is asking for all members of the Blues to remain isolated, monitor their health and seek advice from team medical staff.— Hours after the Australian government called for its citizens to cancel all non-essential travel, the Australian rules Australian Football League announced it was postponing its seasons until May 31. Australia’s various football leagues were among the few remaining professional sports still playing across the globe.— The $12 million Dubai World Cup, the world’s richest purse in horse racing, will be postponed until next year. That’s according to a governmental agency. Officials had planned to run the race March 28 without spectators.NFL-NEWSAP sources: Jets agree to 1-year deal with CB Pierre Desir Opening day has been postponed until at least mid-May because of the coronavirus pandemic.Shapiro cautioned that training camps aren’t likely to open for some time because of the outbreak. All but three of Toronto’s major league players have left the team’s spring training site in Dunedin, Florida. Shapiro says no Blue Jays players or staff have displayed any symptoms of the new coronavirus, and that no one has been tested.Shapiro spoke to reporters on Sunday from his home in Toronto.In other virus-related developments:— Leading golf instructor Pete Cowen tells The Daily Telegraph in Britain he has all the symptoms of the new coronavirus. Cowen says he has told all his players to follow health and government guidelines on COVID-19. Cowen works with Henrik Stenson, Brooks Koepka (KEHP’-kuh), Gary Woodland and Graeme McDowell, among many others. NASCAR eased off the brake in the real sports world brought to a sudden halt by the coronavirus and introduced the country to iRacing with some of the sport’s biggest stars.It was Hamlin’s 31st victory in iRacing, which is where he was first discovered by Earnhardt long before he made it to NASCAR. He said he raced barefoot because “I like to feel the pedals.”Hamlin was heavily involved in putting together Sunday’s pretend race, which was broadcast live on Fox Sports 1 and called by its regular team of Mike Joy and Hall of Famer Jeff Gordon.NASCAR has suspended racing until at least May 9.,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 NASCAR-iRACINGBarefoot Hamlin wins NASCAR iRaceCHARLOTTE, N.C. (AP) — Denny Hamlin won a race without using a drop of gas.Racing barefoot, the three-time Daytona 500 winner beat Dale Earnhardt Jr. off the final corner to win a NASCAR iRacing event at virtual Homestead-Miami Speedway.Damaged cars were repaired with the push of a button, among a few virtual signs that NASCAR backed quite an unreal race. The International Olympic Committee now says it will consider the possibility of postponing the Summer Games. The IOC issued a statement saying it will hold four weeks of discussions with global sports officials and Japanese authorities to examine the options. It says the “scenario planning” will include the possibility of changing the July 24 start date for the Games, but that “cancellation is not on the agenda.”The announcement came after IOC President Thomas Bach led a conference call with executive board members.The leader of the international track federation has sent a letter to Bach saying holding the Olympics in July “is neither feasible nor desirable” with the coronavirus impacting huge swaths of the globe.The Canadian Olympic Committee has made the strongest objection yet to an Olympics this summer, announcing it will not send a team to Tokyo unless the games are postponed for a year. Canada is the first country to threaten such a move in the face of the coronavirus pandemic.The Australian Olympic Committee is advising its athletes to prepare for an Olympics in 2021. Ian Chesterman, Australia’s team leader for Tokyo, says “It’s clear the games can’t be held in July.” NEW YORK (AP) — The New York Jets and cornerback Pierre Desir have agreed to terms on a deal, according to two people with direct knowledge of the contract.The Athletic first reported the Jets’ agreement with Desir, who was released by Colts on Saturday.The 29-year-old defensive back spent the past three seasons with Indianapolis, where he had 161 total tackles, five interceptions, 26 passes defensed, two forced fumbles and a fumble recovery in 37 games, including 29 starts.Also in the NFL:— A person with knowledge of the deal says the Seahawks have agreed to terms with offensive lineman Chance Warmack. The former first-round pick has not played since 2018 when he appeared in nine games for Philadelphia. Warmack sat out last season to reportedly get healthy after a series of injuries. Associated Press Update on the latest sports March 23, 2020 National Olympic committees in Brazil and Slovenia later called for a postponement to 2021. Norway’s Olympic body said it did not want athletes going to Tokyo until the global health crisis is under control.The United States governing bodies of swimming and track have called on their national Olympic officials to push for a postponement.VIRUS OUTBREAK-SPORTSJays’ Shapiro expects 4-week spring training before seasonUNDATED (AP) — Toronto Blue Jays President Mark Shapiro says he thinks Major League Baseball would need at least a month of workouts and exhibition games before regular season play can begin. Share This StoryFacebookTwitteremailPrintLinkedinRedditVIRUS OUTBREAK-OLYMPICSIOC considers postponing Tokyo Olympics…Canada says no to 2020 Summer GamesUNDATED (AP) — There’s a growing possibility the Tokyo Olympics won’t begin in late July as scheduled due to the new coronavirus.
Elsewhere in that section, Colombia overcame USA to claim second place based on their superior head-to-head record, with the two teams having finished level on points, goal difference and goals scored. The Stars and Stripes were already assured of a berth in the next round and progress as one of the best third-placed sides.Paraguay, for their part, maintained their 100 per cent record in Group B, and in the process, eliminated Turkey from the competition. They are joined in the knockout stage by Mali, the beaten finalists last time out, who eased past New Zealand. The Oceanians are not quite out of contention yet, but require a real miracle to advance.GROUP AGhana 4-0 IndiaUSA1-3 ColombiaGROUP BTurkey 1-3Mali 3-1 Nâ€™ ZealandShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram UNDER-17 WORLD CUPWhile the hosts bowed out, Colombia, Ghana and Mali all collected impressive victories on day seven of the FIFA U-17 World Cup India 2017 to add their names to the list of teams that are through to the knockout stage.It was Ghana who quashed India’s dreams, outclassing the home nation in New Delhi to seal top spot in Group A on goal difference.
GGEA, owned by Texas Rangers’ Neil Liebman alongside OpTic Gaming and Ngage Esports, are expanding into the realm of fighting games. Looking to do more than merely compete, the organisation will provide a curriculum for up-and-coming competitors to hone their skills – with the hopes of developing talent into professional players.Nabil Pervez, Infinite Esports & EntertainmentSpeaking to Red Bull, Nabil Pervez explained GGEA’s plans: “We love the idea of helping train the next generation of players. We want to develop critical thinking, understanding subtle nuances, and build a greater gaming culture. Through learning about the game, you learn to live like a gamer, and learn to communicate.”GGEA will be teaching and training its subjects in a physical location, putting them through a series of trials to improve their chances of winning in, and out, of the game. “What we’re trying to do is to make that road from an amateur to a pro a little easier,” Pervez continued. “We place a strong emphasis on not only growing your skills as a player, but making you well-rounded as an individual, like building a brand that makes you marketable, for all these brands and top tier teams that are looking to get into fighting games but haven’t found the right fit yet.”The aforementioned curriculum that players will go through is being developed by professional gamers. Brian “DoctaAfrikan” Mbipeh, a teacher at the GG Esports Academy, has experience in fighting games and explained why this initiative will be effective. “While I was learning fighting games from members of the FGC, I realized that there were a lot of important details that I initially missed. Some of them were things anyone could learn in five minutes or less. With the proper training regimen provided by GGEA, these kinds of details are ones that could propel a player from one level to the next over a relatively short amount of time.”The training will be personalised to bring the best out of each individual player. “We brought together multiple tournament veterans to compile a lengthy list of skills and concepts that are required to become a professional player,” Mbipeh said. “That list is then converted to a series of trials. We will actively teach our students all these concepts on an incremental level, while challenging them in fun and entertaining ways.”GGEA will open on February 5 with two invitational teams: Team Alpha is made up of professional Southern players, and Team Beta consists of amateurs needed a little push to propel themselves into the top tier.GGEA has already competed in Call of Duty, with two teams placing in the Top 24 at CWL New Orleans. The organisation plans to release teams as soon as they reach the professional level of Call of Duty, and once it has accrued more teams, it will drop the worst-performing at each event to give other players and teams a chance.Esports Insider says: Great to see GGEA not only committing to a new scene and the fighting games community, but committing to real player development with a physical location and tried and tested trainers who are former pros.