Danish pensions body counters political pressure to invest for growth

first_imgDanish pension funds have already invested DKK220bn (€29.5bn) in Danish business and are keen to help create more growth in the domestic economy, according to industry association Forsikring & Pension (F&P).But the risk of such investments has to match the return, it insisted. The association’s chairman Christian Salgild told F&P’s annual meeting: “All my warning lights start to flash when the political side proposes that pension funds invest in companies and sectors considered risky by banks and the FSA, while at the same time those businesses are making big investments in production and jobs abroad.”However, his main message should not be misunderstood, he said. He said the pensions and insurance industry already contributed very significantly to investment and growth in Denmark and wanted to step up efforts, as long as the return matched the risk.New figures from F&P show the pension funds have DKK220bn invested in Danish business.Of this, DKK125bn was in property, DKK85bn in shares, corporate bonds and loans, and DKK10bn in infrastructure, wind energy and public-private partnerships (PPPs), according to the association’s data, covering 85% of the pensions market. “I understand politicians’ desire for more pensions money to go into Danish companies,” said Salgild. But politicians also have to understand the world in which pension funds operate, he said.“We are obliged – legally, too – to safeguard pension savers’ interests first and foremost,” he said.Sagild said the problem facing investment and growth in Denmark was not that Danish companies were caught in a credit crunch.The main problem was rather that the Danish economy was growing too slowly and that Denmark was not nearly as attractive an investment location as other countries.“In a globalised world, it is first and foremost the cost level that determines where companies place their production,” he said.“And this, therefore, also determines which countries and regions will experience growth and increased employment.”last_img read more

“Work in progress” for McDowell

first_imgGraeme McDowell admitted he needs to “clear his mind” after his bid for a third successive Alstom Open de France title came to an ignominious early end. However, after a short break McDowell was back out on the course which will stage the 2018 Ryder Cup and slumped to a second round of 78, his worst score in 32 rounds at the venue. “I struggled to get on the fairway mainly and, as firm and as fast as this course is, if you’re not hitting the fairway you have a bit of a problem getting close to the flag,” said McDowell, whose sole top-10 finish on the European Tour this season came in the Dubai Desert Classic on February 1. “It’s just a bad first nine both days. I rescued it coming in last night but it was a fast turnaround from a 9pm finish last night to an early start this morning and I just didn’t come out of the blocks this morning at all. “It’s very disappointing, this course has been so good to me over the years, just not to be this year. It’s a work in progress, I’ll keep grinding and it’s a big summer ahead.” McDowell, who missed the cut on eight over par after a round containing two double bogeys, three bogeys and no birdies, added on Sky Sports 4: ” I have a lot of technique in my head to be honest and I have to strip that out; I’ve got to get back to basics and try to clear the mind. “I’ve been working too hard on trying to get the technique fixed and been making it worse. I know it’s in there; you take the rough with the smooth and it’s been a great three or four years. I will dig this out and I’ll be back.” At the other end of the leaderboard, McDowell’s Ryder Cup partner Victor Dubuisson – the pair won both of their foursomes matches together at Gleneagles – shared the halfway lead with Germany’s Martin Kaymer and Spain’s Rafael Cabrera-Bello on four under par. Home favourite Dubuisson held a two-shot lead when he followed a birdie on the fifth by holing his approach to the next from 107 yards for an eagle, but carded three bogeys and one birdie in the last 11 holes in a round of 70. “There were two shots I hit on eight and nine that finished in a bad spot and made bogeys there and on this course it can turn really bad, but I made a great par on 10 and nice birdie on 12 and I’m very happy with how I played today,” Dubuisson told Sky Sports 4. “I’m very excited about the weekend but on this course you can easily make mistakes so I will have to play well again tomorrow.” Former champion Kaymer, who missed the cut in defence of his US Open title at Chambers Bay, found water with his approach to the 15th to card a double bogey, but recovered in style with his fourth birdie of the day on the 18th to return a second consecutive 69. Cabrera-Bello has finished finished fourth, 13th, second and 11th in his last four events, but bogeyed the 72nd hole in the Irish Open to miss out on a play-off and shot rounds of 74 and 71 after taking the halfway lead in Munich last week. The 31-year-old said: ” Obviously some things have been going wrong because my scoring during the first two days compared to Sunday is not quite the same. But I’m working on that, so I’m going to keep knocking on the door and one day, it will open.” English trio Tyrrell Hatton, James Morrison and Daniel Brooks were a shot off the lead alongside Francesco Molinari and Jaco van Zyl, with Brooks carding a 66 that is the lowest of the week so far by two shots. Italy’s Renato Paratore finished alongside McDowell on eight over par, but claimed a place in the record books with 18 fours in his second round of 72 – three birdies, four bogeys and 11 pars. It is understood to be the first time that has happened in European Tour history. McDowell was one of 42 players unable to complete their opening rounds on schedule at Le Golf National after thunderstorms on Thursday resulted in a delay of almost two-and-a-half hours. The former US Open champion had just one hole remaining when play resumed at 0730 local time on Friday and made par on the 18th to complete an opening 72 and lie just four shots off the lead. Press Associationlast_img read more

CODE2040 a nonprofit organization that focuses o

first_imgCODE2040, a non-profit organization that focuses on creating opportunities for minorities in technology, just received a generous $1.2 million in funding from the Knight Foundation.[Related: Minority Recipients of JPMorgan Chase—Backed Entrepreneurs of Color Fund Awarded $325,000]“We are very proud of our continued partnership with Knight Foundation to create access, awareness, and opportunities for black Latino and Latina engineering talent. This transformative investment allows CODE2040 to build the capacity needed to rapidly increase our impact on diversity in tech,” said Laura Weidman Powers, CODE2040 co-founder and CEO.VP of programs, Karla Monterroso, in a statement to BlackEnterprise.com, said, “It is vitally important that the American workplace learns the competencies needed to engage, recruit, and retain communities of color. We are so excited to be partnered with the Knight Foundation. Their investment will be pivotal to our ability to scale this skill-building and opening [of] opportunities for talented black and Latino innovators.”The funding will be used to expand CODE2040 programs, including the Fellows Program, which places black and Hispanic software engineering students into internships with top tech companies, and the Technical Application Prep (TAP) program. TAP prepares students for tech careers through coaching, mentoring, retreats, workshops and more.With the funding, CODE2040 will be able to increase student participation in the Fellows Program by more than 100%.The Knight Foundation funds efforts that support promoting quality journalism, advancing media innovation, engaging communities and fostering the arts. The foundation’s mission is to ensure “Americans have access to the information they need to be active participants in the democracy,” told John Bracken, Knight Foundation vice president for media innovation, to BlackEnterprise.com.It was important for the Knight Foundation to support CODE2040’s diversity efforts. “Digital platforms and the internet” are “key” means people will get that information, said Bracken, adding that “it’s imperative” that these platforms are created by, and represent, “all people.”  The CODE2040 funding is “one of those grants we feel really privileged to support,” he said.More than 80 fellows have graduated from the CODE2040 Fellows Program. Many currently work for top tech companies, such as Facebook, Google, Jawbone, and Uber.Next year, CODE2040 will partner with 41 leading tech companies, including Apple, Box, Lyft, and Pandora. The organization has helped more than 3,000 students last year though its TAP program, and will expand its outreach to more than 5,000 in 2016.In October, CODE2040 partnered with Black Enterprise for the Black Enterprise TechConnext Summit held in Silicon Valley. be_ixf; php_sdk; php_sdk_1.4.18 https://www.blackenterprise.com/code2040-receives-1-2-million-in-funding-from-the-knight-foundation/ https://www.blackenterprise.com/code2040-receives-1-2-million-in-funding-from-the-knight-foundation/ What’s New in TechnologyLatest News for EntrepreneursOur Best Videoslast_img read more