The New Magic Box : Three Ways Accelerated Computing is Transforming Enterprises

first_img“Any sufficiently advanced technology is indistinguishable from magic” — Arthur C. ClarkeAt this moment in history, we can watch movies on our phones and use our televisions to call our loved ones. Advanced computing is leading to more accurate medical diagnoses, breakthrough medical treatments and a better shopping experience. Businesses, through artificial intelligence, can recognize who their customers are, accurately predict what they are most likely to buy and when they are going to buy it.Computing acceleration primarily comes from the advances in silicon processing per Moore’s law: the number of transistors incorporated in a chip will approximately double every 24 months, and roughly translates to doubling of the chip’s performance. This has unleashed a level of technology proliferation unprecedented in human history. Digitization has also resulted in the proliferation of data of all kinds — personal, professional and machine data. However, these performance gains from Moore’s law are beginning to plateau. Engineers and scientists are finding that the slow performances offered by contemporary CPUs are either quickly becoming un-economical or insufficient.Enter the accelerators.The most common accelerator is the high-speed NVIDIA graphical processing unit (GPU). This specialized hardware is designed to perform one particular task more efficiently than a general-purpose CPU. GPUs have been supporting video games and image rendering for years. The primary computational requirement for video applications is matrix multiplication or, technically speaking, vector processing. The need for a fast rendering of high-resolution images quickly overwhelms a general-purpose CPU. Video game hardware engineers solved this problem with GPUs. They’re so good that the leading-edge GPU from NVIDIA can easily crank out 125 TFLOPS.Image Source: Nvidia.comBefore long, there was a dramatic acceleration of the performance of critical applications in diverse verticals with similar computational requirements. Verticals from financial services to manufacturing logistics to retail to scientific research to oil and gas exploration now use accelerators to help solve computational problems that they could not before.Artificial intelligence including machine learning and deep learning has become more mainstream. Accelerated computing is becoming essential to provide the necessary performance to support these business-critical applications. In fact, Google recently stated that it could not run its various services without accelerated computing.There are many reasons for an enterprise to use accelerated computing but here are the top three:It is BETTER: Enables enterprises to cover workloads more comprehensively by leveraging machine learning / deep learning applications to analyze vast, unstructured data workloadsIt is FASTER: Get to critical business insights faster. Depending on the application and supporting hardware, accelerated computing can boost performance from 10x to 100xIt is COST-EFFECTIVE: A denser but simpler infrastructure for better overall computational performance. It helps lower CapEx and OpEx and helps maintain reliable services. Leverage off-the-shelf accelerators and libraries to effectively support increasingly complex cognitive workloadsAdopting accelerated computing is an easy win for enterprises striving for competitive advantage. Dell EMC has expanded its leadership from HPC into AI. We offer a portfolio of accelerated computing platforms to support our customers’ diverse AI computational needs. Our customers are at various stages in the AI adoption journey and we realize that not all applications need the same category of performance.Businesses having heterogeneous HPC workloads tend to use our PowerEdge R740XD, our three accelerator-based workhorse platform designed to be more fault tolerant for critical servers in HPC environments. Moving along the increasing computational complexity line, we have the PowerEdge C6420, a server platform with innovative cooling options to provide the maximum performance density for applications such as high frequency trading. Our other platforms include the C6320p, T640 and a few other platforms under investigation.As machine learning and deep learning applications gain greater adoption, we are very excited to announce the PowerEdge C4140, an ultra-dense, accelerator optimized server platform designed to handle these intensive AI workloads. With its innovative interleaved GPU design, the C4140 can support four GPUs and provide the kind of unthrottled, no-compromise performance that customers have come to expect from Dell EMC PowerEdge servers. The C4140 can now deliver up to 500 TFLOPS for deep learning applications and on a lifesciences application; it is 19x faster than an equivalent CPU-only system. One can also view this superlative performance as needing 19 CPU-only servers to accomplish the same task as one (1) C4140. With NVIDIA’s state-of-the-art GPUs and PowerEdge servers, Dell EMC is helping businesses adopt machine learning and deep learning applications through our various HPC Ready Bundles.Come and see us at SC 17 (Nov 13 –16) to learn more about the Dell EMC PowerEdge portfolio and some of the hush-hush products we are showcasing in our Whisper Suites. If you cannot make it, be sure to follow us on Twitter and check out Direct2DellEMC for the latest news and updates.It is also worthwhile to consider that a high-speed interconnect is just as important as the high-speed computations. The next big thing on the scene is Gen-Z, a new data access technology developed by a broad-based industry consortium including Dell EMC. This technology provides the high-speed interconnect needed to allow system disaggregation and the ability to scale acceleration, compute, and memory independently.The myriad ways that enterprises are taking advantage of this superior performance afforded by accelerated computing and driving new, wondrous applications is nothing short of magic.last_img read more

Armed Forces among Most Trustworthy Institutions in Latin America

first_img The armed forces, as well as the media, rank among the most trustworthy institutions in Latin America, much more than churches, legislatures, and political parties, according to a regional survey by FLACSO released Monday. About 85% of Latin Americans oppose the abolition of the armed forces, and about 43% trust them, a level surpassed only by the media (59%) and the presidency (48%), according to the study carried out in eighteen countries in the region. “The Latin America average indicates that 43% trust them (the armed forces),” according to this first study on ‘Governability and Democratic Coexistence,’ which surveyed 9,057 people in the region. The level of trust in the armed forces is linked in part to insecurity, which for about 91% of those surveyed is the leading problem, according to FLACSO (Latin American Faculty of Social Sciences), an intergovernmental research center headquartered in San José. It is also related to the opinion of about 77% that military personnel are professionals and not politically active, for which reason it is “not at all probable” that there will be a coup d’état, FLACSO general secretary Francisco Rojas explained. Since this is the first study of this kind by this organization, it is impossible to compare the results, but in previous polls by other institutions, the armed forces have normally earned high levels of distrust in a region that experienced military dictatorships during the 1970s and 1980s. The survey was carried out jointly with the opinion-research firm Pública Ipsos in November and December of last year and has a margin of error of 1%. The countries where “the perception of the probability of a coup d’état is high are Paraguay (41%) and Ecuador (39%),” surpassing Honduras (31%), where a coup took place last year, according to the study. In contrast, 93.8% of Chileans dismiss the possibility of a coup. In the two countries that have abolished their armed forces (Costa Rica in 1948 and Panama in 1994), there were divergent results on the question of whether it would be a good idea to restore the army: 88.4% of Costa Ricans were opposed to such a possibility, which was supported by 47.4% of Panamanians. Insecurity is the largest problem for more than 90% of citizens in El Salvador, Peru, Brazil, Bolivia, Guatemala, Panama, Venezuela, Honduras, and Costa Rica. The lowest level was in Uruguay with 85.5%. By Dialogo August 18, 2010last_img read more

Do This: Long Island Events Jan. 29 – Feb. 4

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Judy CollinsEnchanting songstress and staunch social activist Judy Collins will take the stage in Bay Shore to captivate audiences with her vast songbook that includes everything from original folk, pop, and rock ‘n’ roll songs to equally varied standards. As beautiful and ethereal as she is talented, Collins will perform hits that span the 1960s and beyond. Will she include Sondheim’s iconic and heartbreaking tune “Send in the Clowns”? Only one way to find out. Boulton Center for the Performing Arts, 37 West Main St., Bay Shore. $60-$65. 8 p.m. Jan. 29.Bobby VThe sultry southern R&B crooner previously known as Bobby Valentino will sing his breakout hit “Slow Down” in the follow up to his 10-year-anniversary tour, as well as his new club anthem, #PBJ. The Emporium, 9 Railroad Ave., Patchogue. $30-$40. 10 p.m. Jan. 29. IlluminationsAn opening reception for the work of artist Terrence Netter, who was inspired to paint landscapes in France and draws on the impromptu graffiti of his students. “I think a painting should take the eye for a walk, but I also think it should take the mind for a walk,” he says. Gallery North, 90 North Country Rd., Setauket- East Setauket. Free. 5 p.m. Jan. 30.Aspire HigherThis photography exhibit features the fine art of select local photographers, who will each display a series of three images that tell a story or convey a concept or mood. Long Island Photo Gallery, 467 Main St., Islip. Free. 6 p.m. Jan. 30.The SlackersThis brassy New York City rocksteady sextet hasn’t exactly lived up to their name, churning out more than a dozen albums since they skanked onto the ‘90s ska revival scene. Break out the wingtips and porkpie hats, because this band will pack the dance floor all night. 89 North Music Venue, 89 North Ocean Ave., Patchogue $13. 7 p.m. Jan. 30.The B-52sB-52s fans anticipate a transformation of The Space at Westbury into the Loveshack when this fantastically quirky and over-the top new wave band take the stage. Iconic for the famed beehive hairdo and funky tunes like “Rock Lobster” and “Roam,” the whole Space will shimmy! One thing is for certain–audiences are in for a fun night. The Space at Westbury, 250 Post Ave., Westbury. $35-$75. 8 p.m. Jan. 30.Demetri MartinYou might recognize Demetri Martin from his stints on the Daily Show, where he played a “senior youth correspondent” or his 2009 Comedy Central show Important Things with Demetri Martin. Martin’s performances are unique, in that he continuously peppers his comedic one-liner delivery with musical interludes, playing a variety of instruments from guitar and harmonica to the glockenspiel and ukelele. The result? Unedited versions of his performances on television and YouTube because you can’t break up his routine without breaking up the continuing melodies he strums as he lands killer line after line. The Persistence of Jokes. The Paramount, 370 New York Ave., Huntington. $25-$50. 8 p.m. Jan. 30.Andrew Dice ClayThe controversial comic from Brooklyn who was once banned from MTV over his infamous “adult nursery rhymes” remains popular despite his critics, claiming the title of the first comedian to sell out Madison Square Garden two nights in a row. Die-hard fans recall his starring in the cult classic film The Adventures of Ford Fairlane. New recruits to “The Dice Man” will know his autobiography The Filthy Truth, which hit stores in November. Come see why he’s still calling himself the “Undisputed Heavy Weight King of Comedy.” NYCB Theatre at Westbury, 960 Brush Hollow Rd., Westbury. $39.50-$74.50. 8 p.m. Jan. 30.Melanie SafkaThis solo singer—one of three such women to perform at Woodstock besides Janis Joplin and Joan Baez—is taking the stage again to give Long Island a refresher course in flower power with her hits, including “Brand New Key,” “Ruby Tuesday” and her song about Woodstock itself, “Lay Down (Candles in the Rain).” The Suffolk Theatre, 118 East Main St., Riverhead. $49. 8 p.m. Jan. 30.Moon Tooth/Face the KingThe Long Island metal band, Moon Tooth, bashed some well-deserving ear drums with the aggressive prog-punk rock of their first EP Freaks, drawing comparisons by the cognoscenti to their seminal influences like Torche, Mastodon and Baroness. But comparisons will only get you so far, as we all know well. Moon Tooth brings their own brutal brand of loud and ferocious chaos to the stage and then all hell breaks loose. Doom never sounded so welcome. Face the King is a hard-working, hard-rocking indie-alternative New York band who just announced a successful fan-funded Kickstarter campaign to finance their debut studio album. They’ve done the NAMM convention in Anaheim, the Warped Tour and the 2014 CBGB Festival in Times Square and, last but not least, been dubbed the “Best Band on Long Island in 2013” by the Long Island Press’ Best Of campaign. Their arena-size sound alone would blow the roof away but so would their lyrical artistry. These guys are hitting the road with a live show that has to be seen to be believed. Attention must be paid. With Suffolk County wrecking crew Dune Local & Sharks In The Shallows. Revolution Bar and Music Hall, 140 Merrick Rd., Amityville.  $10, $13 DOS. 8 p.m. Jan. 30.Jonathan GroffYou know him from Spring Awakening and Hair on Broadway, the screen adaptation of David Sedaris’s C.O.G., and the voice of Kristoff in Frozen. You’ve seen him on TV, too, as Jesse St. James in Glee, and Patrick Murray in HBO’s Looking. Now you have the rare chance to witness all the talent and grace that is this 29-year-old Tony Award-nominated actor and singer, up close and personal, right here in Port Washington, as part of the Landmark’s intimate Dim The Lights Series. He’s got the pipes and the moves. Not to mention, the looks. A handsome devil of a young man, he’s let it all hang out, so to speak, on Looking, about the squabbles and troubles of a group of gay guys in San Francisco seeking something that remains just out of reach. Groff will be doing what he does best live. Cabaret, meet candor. Taboo, play a couple of tunes, why don’t you? Landmark on Main Street, 232 Main St., Port Washington. $42-$52. 8 p.m. Jan. 30.Alex CostaThis 19-year-old singer from Connecticut has been wowing crowds across the country with his emotional serenades of originals and covers, such as his latest, of Ed Sheeran. They call this Alex Costa a one-man band, which happens to be the title of one of his popular songs. He’s got no crew, no limousine—or so he says when he’s wooing some sweet young damsels in his accompanying video. He’s just an earnest young man with wavy brown hair and dark eyes and a baseball cap on backwards. But no doubt about it, Costa has also got the charm and the chops to make a lasting connection in the hearts of many admiring music fans. His voice has a welcoming ring and a sonorous range that makes you wonder how far a talented young performer like Alex Costa will have to go before he becomes a sensational heartthrob heard ‘round the world. Come down and see what all the fuss is about. Opening the show are local rockers One-Click Waiting, Long Island American Idol Experience Finalist Ciara Charlotte, In Development, Dymensions and Priscilla Raine. Revolution Bar and Music Hall, 140 Merrick Rd., Amityville. $10, $12 DOS. 3:30 p.m. Jan. 31.Chris TuckerThe actor and comedian is perhaps best known for his role in the Rush Hour movies, in which he played Det. James Carter alongside Jackie Chan. But the Atlanta-native has also established himself as a top-notch comedian with a rip-roaring routine that will leave you wanting more. Other than the lucrative Rush Hour series, Tucker also appeared in the ‘90s cult classic Friday and most recently in the 2013 Oscar nominated film Silver Linings Playbook. NYCB Theatre at Westbury, 960 Brush Hollow Rd., Westbury. $49.50-$96.50. 8 p.m. Jan. 31.Alexis P Suter BandThe Alexis P. Suter Band performs a unique blend of Gospel and Blues—a way for Alexis P. Suter to pay homage to the music played at home (Gospel) and the genre she grew to love after a trip to New Orleans. Alexis P. Suter’s first big hit was “Slam Me Baby” in 1990. She came out with her first album in 2005, and quickly followed that up with five others. Check out this band’s unique sound when they come to the Island Jan. 31. Treme Blues and Jazz Club, 553 Main St., Islip. $20. 8 p.m. Jan. 31.Brooklyn Youth Chorus: Black Mountain SongsThe Grammy Award-winning Brooklyn Youth Chorus sings Black Mountain Songs, an ode to North Carolina’s Black Mountain College, their erstwhile commune and artistic playground, where a spirit of radical democracy prevailed. Students and teachers shared roles and work, boundaries between disciplines dissolved, and art bled into life, nurturing an atmosphere of unfettered creative collaboration. In Black Mountain Songs, that collective thread is renewed—an expansive choral work that celebrates and rekindles Black Mountain’s utopian spirit. Westermann Stage, Concert Hall, Adelphi University, Garden City Park. $30-$35. 8 p.m. Jan. 31.DeirdreDebuting this weekend is this Celtic-inspired musical written by Long Island-based authors Michael P. McCarthy and Rich Buley-Neumar and starring actors from the Island and New York City. Deirdre is billed as an ancient story of love and obsession, of mystical druids and ominous prophecies, retold for the modern age. Clashing swords ring out in this tale of a woman whose beauty brings about the downfall of kinds and kingdoms, and of the two men fated to pursue her, in one of history’s first love triangles. The Merrick Theatre and Center for the Arts, 2222 Hewlett Ave., Merrick. $21. 8 p.m. Jan. 31 and same time every Friday and Saturday through Feb. 22, plus 3 p.m. performances on Sundays.Jack HannaThe host of TV’s Jack Hanna’s Into the Wild is considered America’s favorite zookeeper. Jungle Jack and his family explore the far corners of the globe and discover amazing animals and cultures. His live show features many of his favorite animal friends, fascinating and humorous stories, and footage from his adventures around the world. NYCB Theatre at Westbury, 960 Brush Hollow Rd., Westbury. $29.50-$62.50. 1 p.m. Feb. 1.Art Exhibit Opening ReceptionThis internationally renowned, New York-based artist Luba Lukova is regarded as one of the most distinctive image makers working today. Transcending language, culture, and politics, her Graphic Guts collection features passionate visual reactions to many of the pressing issues of our time. In the art of Bulgarian-born Lukova, less is more. More effect, more message, more expression; all while doing it with less. The graphic elements are bold with few fine details but the intent is clear. Her messages reflect the human condition, fundamental fairness and justice. Lukova’s use of striking, metaphoric images gives the viewers art to not only appreciate visually but intellectually. Graphic Guts is also the name of her new book to be released later this year by Clay & Gold. Gold Coast Arts Center, 113 Middle Neck Rd., Great Neck. Free. 4 p.m. Feb. 1.Marky RamoneDrummer Marc Bell—or Marky Ramone as he’s famously known—will be signing his new book Punk Rock Blitzkrieg: My Life as a Ramone, which documents his time with the iconic punk rock band from Queens. The book promises to give an inside-look into one of the most influential groups of all time. Any fan of the Ramones should at the very least pick up a copy and learn what made this legendary band tick. Book Revue, 313 New York Ave., Huntington. Price of book. 7 p.m. Feb. 3.Emerson String QuartetFormed in 1976 and taking its name from the American poet and philosopher Ralph Waldo Emerson, the Emerson String Quartet has been wowing audiences across the globe for nearly 40 years and was one of the first quartets formed with two violinists alternating in the first chair position. Violinists Eugene Drucker and Philip Setzer, along with Lawrence Dutton on viola and Paul Watkins on cello, continue their unparalleled legacy to this day, converting believers with every extraordinary performance and always breaking new musical ground. Among their long list of accolades, which includes more than 30 acclaimed recordings, nine Grammys and three Gramophone Awards, earlier this month the Emerson String Quartet received the Richard J. Bogomolny National Service Award, Chamber Music America’s highest honor, in recognition of their significant and lasting contribution to the chamber music field. They are the Quartet-in-Residence at Stony Brook University, and are poised to blow away audience members attending this intimate local showstopper. Staller Center for the Arts, SUN Stony Brook, Nochols Road, Room 2030A, Stony Brook. $48. 8 p.m. Feb. 3.Victor PrietoThis internationally acclaimed accordionist and Grammy nominee will perform at the next meeting of the Long Island Accordion Alliance. Infusing Jazz, Tango, Classical and Celtic roots, you’ve never imagined an accordion could sound like this. Prieto is revolutionizing everything an accordion is and can be. Wow. La Villini Restaurant, 288 Larkfield Rd., East Northport. Price of dinner. 6 p.m. Feb. 4.The Ken Kresge Jazz TrioMusic from Gershwin and Porter, Dave Brubeck and Miles Davis, to Broadway and beyond. Beautiful vocals and instrumentation all wrapped into one night of amazing music! Ken Kresge has performed for live audiences around the world and was a past winner of the Michelob Jazz Search. Not to be missed! John W. Engeman Theater, 250 Main St., Northport. $45. 8 p.m. Feb. 4.—Compiled by Spencer Rumsey, Jaime Franchi, Rashed Mian, Timothy Bolger & Zachary B. Tirana IIIlast_img read more

Rewards programs are essential for building (and retaining) member loyalty

first_imgLoyalty is a very critical metric that credit unions can use to measure performance. Simply stated, loyal members stay while indifferent members leave. Keeping existing members is easier than finding new ones. Loyal members spread the brand and urge others to join. Loyalty is unquestionably the key to success. Friendly staff, winning smiles, and good member service, while important, will only take member loyalty so far today.To stay competitive credit unions must offer compelling card programs and rewards that have real meaning to their members. Rewards are what consumers and potential members want. Even the most loyal credit union members will jump ship if another financial institution delivers better rewards.Industry research shows that a rewards program is the main reason people select a new credit card: about 30 percent of respondents in one study stated that a rewards program is the most important reason for getting a new card. Likewise, according to the same study about two-thirds of survey respondents indicated they would consider getting a different card if it offered rewards.Credit unions must recognize that cardholders are a lot savvier than they used to be and expect more from their rewards programs. Cardholders are much quicker than banks and credit unions to understand what they want from their financial institutions. Consumers will change financial institutions if they are presented with a rewards program that has a stronger value proposition that better matches their needs. And here is an eye-opening statistic; approximately 80 percent of all credit card spending is done with cards that carry rewards programs.Does your credit union offer a rewards program? Surprisingly, many credit unions do not. If you do have a program but aren’t managing it, or don’t really understand it, you are still way behind the curve. Take the time to determine how member loyalty is part of your overall growth strategy. Now is the time for credit unions to differentiate themselves. Put a rewards program in place and market it aggressively. Then determine other ways to be creative with it that add value and strengthen the member relationship.Also, do not hesitate to call your CSCU consultant. They are all very experienced with rewards programs, and can help with strategic planning and design for an effective program. For more information, call 888.930.2728 or send an email to 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Bill Lehman Bill Lehman is Senior Vice President, Sales and Portfolio Consulting Services at CSCU. Under his leadership, CSCU sales and portfolio consultants deliver expert guidance to help credit unions assess their … Web: Detailslast_img read more

Smith Point Triathlon Athlete Dies

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A 69-year-old athlete died while competing in the 500-meter swim portion of the Smith Point Sprint Triathlon in Shirley over the weekend.Suffolk County police said Vincent Fleck of Mount Kisco was swimming across Narrow Bay when a lifeguard noticed Fleck was in distress at 7:25 a.m. Sunday.The lifeguard pulled Fleck aboard a canoe and took him to a Mastic Beach Fire Department rescue boat, where an EMT began First Aid, police said.The swimmer was then taken to Brookhaven Memorial Hospital Medical Center in East Patchogue, where he was pronounced dead.The Suffolk County Medical Examiner’s office will perform an autopsy to determine his cause of death.last_img read more

Purchase of multi-million dollar home extra special for lucky buyer

first_img720 Musgrave Rd, Robertson.A seven-bedroom, five-bathroom home at Robertson sold under the hammer for $1.3 million this morning.The property at 720 Musgrave Rd, Robertson was bought by an older couple in front of a crowd of about 50 people. The large crowd at Lot 55, McKie Cres, Cannon Hill.Place – Bulimba selling agent Shane Hicks said today’s results reflected the continuing growth in Cannon Hill and surrounding areas.“When the Minnippi estate first opened, the blocks of land sold out within the first 48 hours and many felt they had missed out,” Mr Hicks said.“This auction gave them a chance to buy into the exclusive estate and that’s why there was so much competition.”He said there were six registered bidders keen on the block of land.“It came down to three families carrying out $1000 increments before it finally sold under the hammer to a family moving from McKenzie to be closer to the CBD,” Mr Hicks said. Tap here for a full list of Queensland auction results 44 Kent Rd, Wooloowin.The Auctioneer Group’s Matthew Condon called the auction with bidding kicking off at $970,000.There were five registered bidders at the auction. 60 Robe St, Grange.Ms Sutton said the buyers were looking to upgrade to a bigger home.“They loved the area especially for the schools and really loved the connectivity from the living area to the garden,” she said. 5 Tristan St, Carindale.This property at 5 Tristan St, Carindale sold for $585,000 in front of a crowd of about 40 people.Ray White — Bulimba selling agent George Trovas said the starting bid was $300,000. 44 Kent Rd, Wooloowin. 45 Orsova Rd, Yeronga. 45 Orsova Rd, Yeronga.Mr Carr said it was the first time since being built 11 years ago that the property was on the market. More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours agoSellers Fara and Steve Tavakol were present at the auction of their Yeronga home. Photo: AAP Image/Jono Searle.Previous owners Fara Tavakol and her husband Steve were quick to congratulate Mrs Nabanidham on buying the home.The couple, who designed the home, are staying in the area but moving closer to the river.“We’ll never live in a home like this again, it was a hard decision to make, Mrs Tavakol said. Successful buyer and new owner Ratha Nabanidham. Photo: AAP Image/Jono SearleMrs Nabanidham said her daughter was her lucky charm as they had missed out on two other previous auctions.“We have been looking for quite sometime now,” Mrs Nabanidham said.“We live in the area and have been to other auctions, but not with our daughter. This is our third auction — she has brought us luck.” 720 Musgrave Rd, Robertson.Prince Realty — Sunnybank selling agent Alex Hung Cheung said the starting bid was $700,000.The property, on a 898sq m block of land, was recently renovated and has an in-ground swimming pool.center_img 45 Orsova Rd, Yeronga.The property at 45 Orsova Rd went to auction at 11am and was attended by about 40 people.As Ratha Nabanidham held her daughter Anjali, she was quick to kick off the first bid at $1.8 million.Interest in the five-bedroom, four-bathroom home was high, with only 10 bids made throughout the auction. FREE: Get the latest real estate news direct to your inbox here. 45 Orsova Rd, Yeronga. Auctioneer Phil Parker at the auction of 45 Orsova Rd, Yeronga. Photo: AAP Image/Jono Searle. Successful buyer and new owner Ratha Nabanidham with daughter Anjali at 45 Orsova Rd, Yeronga. (AAP Image/Jono Searle)A two-storey home at Yeronga has sold for $2.025 million with the new owner saying her little girl was her lucky charm at this morning’s auction. 44 Kent Rd, Wooloowin.Over at 44 Kent Rd, Wooloowin, a three-bedroom, two-bathroom home sold for $1.105 million.Belle Property – Wilston selling agent Susanne Forbes said a couple from Gordon Park bought the property. The kitchen area at 5 Tristan St, Carindale.With seven registered bidders keen on the 620sq m property, Mr Trovas said it was bought by a man who wanted to help another family member get started in the market. The three-bedroom, one-bathroom home backs onto a large park and is five minutes from Carindale Shopping Centre. The crowd at the auction at 45 Orsova Rd, Yeronga. Photo: AAP Image/Jono Searle.Mrs Nabanidham said she was elated with the results of today’s auction.The 731sq m property was marketed by Ray White — Bulimba selling agent Roger Carr who said there were six registered bidders on site. Place – Bulimba selling agent Shane Hicks with the new owners of Lot 55, McKie Cres, Cannon Hill.A block of land at Lot 55, McKie Crescent in the Minnippi estate of Cannon Hill sold for nearly $700,000 at this morning’s 9am auction.The 662sq m block of land has a 20m frontage and is close to the future Brisbane City Council owned golf course and club house. The land sold for $691,000. 60 Robe St, Grange.A local couple from the Grange kicked off their morning with the purchase of this stunning home at 60 Robe St, Grange.The Auctioneer Group’s Matthew Condon said the property, which was marketed by Belle Property -Wilston selling agent Debora Sutton, sold for $1.626 million. Ms Sutton said there were five registered bidders with their eye on the five-bedroom, three-bathroom home.She said the starting bid was $1.4 million.last_img read more

Bulk annuities market nears £35bn as Asda strikes £3.8bn deal

first_imgRoger Burnley, chief executive, Asda, said: “We have supported the scheme over many decades through significant cash contributions.“That funding, combined with strong stewardship by the scheme’s trustees, has resulted in the very positive situation where the scheme can now be transferred to an A+ rated insurance company, Rothesay Life, derisking the scheme and providing long term, sustainable support for its members.”Aon was lead adviser to the pension scheme trustees, alongside Addleshaw Goddard, Cardano and Lincoln Pensions.Mike Edwards, partner at Aon, confirmed to IPE that this was the Asda scheme’s first bulk annuity deal, adding that there was a trend emerging for large schemes to cover all their pension liabilities in a single transaction.He drew attention to the “immaturity” of the Asda scheme given that two-thirds of the members are deferred, noting that such long duration has “created pricing challenges” in the past. The buy-in is the latest in a string of derisking transactions for Rothesay, following recent deals with National Grid, Pernod Ricard and Telent. It is also the UK’s 10th longevity transaction over £1bn so far this year. Nearly £35bn of pension liabilities have been insured via bulk annuities this year. The pension trustees of UK supermarket Asda and its US owner Walmart have agreed a £3.8bn (€4.4bn) buy-in with insurer Rothesay Life.The deal covers all members of the Asda Group Pension Scheme – 12,300 in total, with 4,800 pensioners and 7,500 deferred members.Asda will make a one-off final payment into the scheme of some £800m, which is to be followed in due course by a full buyout, with completion expected in late 2020 or early 2021, according to a statement.The transaction, made partly to exploit “favourable market conditions”, will remove all future scheme liabilities from the Asda and Walmart balance sheets.last_img read more

​Yngve Slyngstad quits as CEO of Norway’s €986bn wealth fund

first_imgThe chief executive of the manager of Norway’s now NOK10.12trn (€986bn) giant sovereign wealth fund has decided to resign from his role at the top of the organisation, but will carry on working at the fund particularly on renewable energy infrastructure, Norges Bank Investment Management (NBIM) has just announced.NBIM, which manages the Government Pension Fund Global (GPFG), wrote in a statement: “Yngve Slyngstad has informed Norges Bank’s executive board that he will resign as CEO in Norges Bank Investment Management.“Slyngstad will remain in his position until a new CEO takes up the position,” it said.NBIM spokespeople were not immediately available to say why Slyngstad had decided to make the move. In the statement, Slyngstad said: “It is an important milestone that the fund’s market value passed NOK10trn on 25 October. I am proud of having been part of building up a leading international investment organisation with talented and professional employees.”He said the organisation had delivered good returns “for the good of our community”.Øystein Olsen, chair of NBIM’s executive board and governor of Norges Bank, Norway’s central bank, said: “The executive board is very satisfied with the management of the fund under Yngve Slyngstad’s leadership.”Over the 12 years, Olsen said the fund had delivered very good results and achieved a strong position internationally and in Norway.“Yngve Slyngstad has been a distinct leader of Norges Bank Investment Management and developed a leading and global investment organisation,” he said.NBIM said its board would now start looking for a new CEO, and once one was in place, Slyngstad will continue working at the fund, “and contribute to the further development of the investment strategy”.“His responsibilities will include building up unlisted renewable energy infrastructure as a new investment area,” NBIM said.In April, NBIM was given the go-ahead from Norway’s finance ministry to invest up to 2% of the fund’s value in unlisted renewable energy infrastructure.Olsen said Slyngstad’s experience and insight would help ensure this investment area was established in a good way.Slyngstad was appointed chief executive of NBIM on 1 January 2008, having joined the organisation in 1998 to head up and build its equity management activities. Between 1998 and 2007 he was of head of equities.last_img read more

In Europe, cohabitation is stable…right?

first_imgBrookings 27 March 2017Family First Comment: “It turns out that even in Europe, cohabitation is markedly less stable for children than marriage. Analyzing data from 16 countries across Europe, we find that children born to cohabiting couples are about 90 percent more likely to see their parents break up by the time they turn 12, compared to children born to married parents.” In NZ, research shows the likelihood of cohabiting couples splitting up is 4x higher than the rate for married couples. #protectmarriageWhat matters for the well-being of children is family stability, rather than marriage per se. This is the view of some scholars today. They note that children who see the end of their parents’ relationship and additional partners coming in and out of the home are more likely to act up in school, end up pregnant as a teenagers, and be delinquent. The damage caused by instability has been described by many scholars of all political inclinations, including Wendy Manning and Andrew Cherlin.Marriage equals stability…It is easy to see why some conclude that marriage per se does not matter. But here’s the thing: marriage is itself strongly associated with family stability. U.S. children born to cohabiting parents are twice as likely to see their parents’ relationship end compared to children born to married parents.Our new report from the Social Trends Institute and the Institute for Family Studies, The Cohabitation-Go-Round: Cohabitation and Family Instability Across the Globe, shows that the “stability premium” associated with marriage holds even among highly educated families. Almost half of cohabiting college-educated mothers will break up with their partner before their child turns 12, compared to less than one-fifth of mothers who were married when the child was born.…even in EuropeThe marriage-stability connection is pretty clear in the U.S. But there is a prevailing view that the story is different in Europe. Indeed, Cherlin’s own work on family instability suggests that cohabitation and marriage are functional equivalents in Scandinavia and France, where he suggests there “are many long-term cohabiting parents who maintain families that are little different from lasting marriages.”But it turns out that even in Europe, cohabitation is markedly less stable for children than marriage. Analyzing data from 16 countries across Europe, we find that children born to cohabiting couples are about 90 percent more likely to see their parents break up by the time they turn 12, compared to children born to married parents.In France, for instance, children are about 66 percent more likely to see their parents break up if they are born to a cohabiting couple. The gap is again visible even for highly educated couples.READ MORE: up with family issues in NZ. Receive our weekly emails direct to your Inbox.last_img read more

Tax Free budget?

first_img Sharing is caring! Share Share LocalNews Tax Free budget? by: – June 10, 2011 33 Views   one commentcenter_img Tweet Share Junior Minister in the Office of the Prime Minister Senator Alvin Bernard. Photo credit: togetherwemust.netDominicans may see another tax free budget when Parliament meets to debate and present the new budget later this month.Junior minister in the Office of the Prime Minister Senator Alvin Bernard says amidst the global financial difficulties Dominica is still able to maintain its social services under the leadership of Prime minister Roosevelt Skerrit .He says government will continue on that trend as a matter of principle and common sense of the future of the country under the Dominica Labour Party.He says this proves to the world that government is very prudent in the manner in which it handles the finances of the country.Bernard was speaking ahead of what might be another tax free budget when Parliament meets on June 29 for the 2011/2012 budget presentation.Bernard says the Yes We Care and Housing programs are proof that the government is able to handle the affairs of the country.Senator Alvin Bernard was speaking on Government In Focus last night.Dominica Vibes Newslast_img read more