New Gallery Opening in Waterbury

first_imgFOR IMMEDIATE RELEASE11-21-05JULIE RUTH STUDIO & GALLERY OPENING DECEMBER 1, 2005CONTACT:Julie Ruth802-730-2527julie@julieruthstudio.com(link sends e-mail)Waterbury, VT On Thursday, December 1, 2005, a new gallery will open its doors in Waterbury. Julie Ruth Studio & Gallery is located at 23 South Main Street, above the popular pub and brewery The Alchemist. Julie Ruth, a painter, and her husband Shannon Matthew Long, a sculptor, are the proprietors.Ruth, a painter with a ten-year exhibition record across the U.S. and Canada, first arrived in Vermont four years ago on a painting fellowship at the Vermont Studio Center in Johnson, a large artist residency. After closing down her design and illustration business in Ohio and relocating, she met Long (now the sculpture manager at the Center). Ruth paints mainly in oils in a representational style, working from memory and the surrounding landscape. Long’s sculpture incorporates materials such as river stones and adobe into meditative works with eastern influences.The gallery will feature both Ruth and Longs work, along with a selection of mostly local artists. On display December 1st will be both two- and three-dimensional work, including collage, sterling silver jewelry, greeting cards, small sculptures, and paintings. “I expect to add more artists as the gallery gets established, and to curate shows throughout the year in order to showcase artists whose work I admire that do not live in the area”, Ruth says. The gallery also has a small working space that the artists will use while it is open.The opening of Julie Ruth Studio & Gallery will coincide with the Alchemists celebration of their second anniversary on December 1. Hours that day will be from 2-8. Through December, regular business hours will be Friday, Saturday, and Sunday evenings: Friday from 5:30-9, Saturday and Sunday from 4-9. Some weekend morning hours will be available, and other hours are by appointment. For more information, visit www.julieruthstudio.com(link is external), or call 802-730-2527.Hi-res photos available upon request.last_img read more

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Swiss pension funding levels recover after falling below 100%

first_imgThe study differentiates between public pension funds with funding ratios under 100%, and private funds with funding levels of around 107.5%.“The coronavirus crisis leads to uncertainty, to problems for the financial market and to negative returns,” said Jürgen Rothmund, investment analyst and author of the report.This year Complementa expects different performance levels from pension funds, which will depend on their reaction to the crisis. “There will be funds with less strong negative returns and funds with very strong negative returns,” he added.Returns reached -3.9% at the end of April compared to 10.6% in 2019. Higher returns were only recorded in 2005 with 11%.“The coronavirus crisis leads to uncertainty, to problems for the financial market and to negative returns”Jürgen Rothmund, investment analyst at ComplementaIn the last decade, between 2011 and 2020, funds achieved average returns of 3.6%, according to the analysis. “This is a high figure if you think how low the interest rate is,” Rothmund said.Swiss pension funds have invested the returns of 2019 to build up their funding ratio (49%), while 19% was spent on interest payments, 1% on administration, 6% on administration of losses, and 25% on adjustment of technical parameters, including technical interest rate, the report disclosed.The study compared the impact on investments caused by the COVID-19 crisis to other crises in the past, including the financial downturn of 2008, and found similarities with the consequences brought by the collapse of the Long-Term Capital Management (LTCM) hedge fund in the 1990s.“Pension funds will have to continue to fight against low interest rates” when the coronavirus crisis will eventually ease, Rothmund added.The interest rate on employees’ savings was 2.2% in 2019, relatively high in relation to a minimum interest rate for occupational pensions of 1%, and for the fist time since 2002 over the technical interest rate, the analysis showed.“It is certain that the technical interest rate will continue to drop, we estimate from 1.9% in 2019 to 1.8% this year,” Rothmund said.The Umwandlungssatz (UWS), the conversion rate used to calculate pension payouts from accrued assets upon retirement, will decrease in 2020 to 5.53%, and in the next five years even further, to 5.26%.“It is very far away from the established 6.8% and from the correct actuarial conversion rate of 4.48% we calculated, but the difference will decrease in the next five years,” Rothmund said.In the study, Complementa asked pension funds whether the Swiss second pillar pension system was fit for the future – 80% of respondents found it reasonable to increase the retirement age to make it sustainable, but only 25% believe the measure will be executed.Complementa said pension funds must generate a return of at least 2.2% in order to maintain a stable funding ratio.To read the digital edition of IPE’s latest magazine click here. The funding ratio of Swiss Pensionskassen bounced back to 103% in April after declining to 99.8% for a short time at the end of March, according to Complementa’s latest “risk check-up” analysis report.Central banks have sent a clear message through a series of interventions to say they “stand by” the equity market “whatever it costs”, Thomas Breitenmoser, head of investment consulting at Complementa, told IPE during a conference call.The funding ratio of Swiss pension schemes will depend on the future of equity markets, he said, adding that it should not drop further as long as national banks keep their current policies in place.The analysis focuses on 158 Pensionskassen with total assets of CHF396bn (€371), and it is based on previous year’s data of 437 pension funds with assets worth CHF650bn, which represents 70% of the Swiss occupational pension system.last_img read more

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E.U. May Bar American Travelers as It Reopens Borders, Citing Failures on Virus

first_imgThe draft lists were shared with the Times by an official involved in the talks and confirmed by another official involved in the talks. Two additional European Union officials confirmed the content of the lists as well as the details of the negotiations to shape and finalize them. All of the officials gave the information on condition of anonymity because the issue is politically delicate.The forging of a common list of outsiders who can enter the bloc is part of an effort by the European Union to fully reopen internal borders among its 27 member states. Free travel and trade among members is a core principle of the bloc — one that has been badly disrupted during the pandemic.Since the outbreak, the bloc has succumbed to piecemeal national policies that have resulted in an incoherent patchwork of open and closed borders.Some internal borders have practically remained closed while others have opened. Some member states that desperately need tourists have rushed ahead to accept non-E.U. visitors and pledged to test them on arrival. Others have tried to create closed travel zones between certain countries, called “bubbles” or “corridors.” European Union countries rushing to revive their economies and reopen their borders after months of coronavirus restrictions are prepared to block Americans from entering because the United States has failed to control the scourge, according to draft lists of acceptable travelers reviewed by The New York Times.That prospect, which would lump American visitors in with Russians and Brazilians as unwelcome, is a stinging blow to American prestige in the world and a repudiation of President Trump’s handling of the virus in the United States, which has more than 2.3 million cases and upward of 120,000 deaths, more than any other country.European nations are currently haggling over two potential lists of acceptable visitors based on how countries are faring with the coronavirus pandemic. Both lists include China, as well as developing nations like Uganda, Cuba and Vietnam. Both also exclude the United States and other countries that were deemed too risky because of the spread of the virus.Travelers from the United States and the rest of the world already had been excluded from visiting the European Union — with few exceptions mostly for repatriations or “essential travel” — since mid-March. But a final decision on reopening the borders is expected early next week, before the bloc reopens on July 1. In late May and early June, Mr. Trump said Europe was “making progress” and hinted that some restrictions would be lifted soon, but nothing has happened since then. Today, Europe has largely curbed the outbreak, even as the United States, the worst-afflicted, has seen more infection surges just in the past week.Prohibiting American travelers from entering the European Union would have significant economic, cultural and geopolitical ramifications. Millions of American tourists visit Europe every summer. Business travel is common, given the huge economic ties between the United States and the E.U.Despite the disruptions caused by such a ban, European officials involved in the talks said it was highly unlikely an exception would be made for the United States. They said that the criteria for creating the list of acceptable countries had been deliberately kept as scientific and nonpolitical as possible. Share BusinessInternationalLifestyleNewsPolitics E.U. May Bar American Travelers as It Reopens Borders, Citing Failures on Virus by: – June 26, 2020 Including the United States now, the officials said, would represent a complete flouting of the bloc’s reasoning. But they said the United States could be added later to the list, which will be revised every two weeks based on updated infection rates. Share Sharing is caring! Share China, for example, has been accused of withholding information and manipulating the numbers of infections released to the public. In parts of the developing world, case numbers are very low, but it’s hard to determine whether they paint an accurate picture given limited testing.And in the United States, comments made by President Trump at a rally in Tulsa over the weekend highlighted how easy it is to manipulate a country’s case numbers, as he suggested that domestic testing was too broad.“When you do testing to that extent, you’re going to find more people, you’re going to find more cases,” Mr. Trump told supporters. “So I said to my people, ‘Slow the testing down, please.’ They test and they test.”European embassies around the world could be enlisted to help verify or opine on the data provided that would inform the final list, negotiators said, another indication that the list could end up being quite short if European diplomats at embassies said reported numbers were unreliable.Many European Union countries are desperate to reopen their borders to visitors from outside the region to salvage tourism and boost airlines’ revenue while keeping their own borders open to each other. Some have already started accepting visitors from outside the bloc.At the other extreme, a few European nations including Denmark are not prepared to allow any external visitors from non-E.U. countries, and are likely to continue with this policy after July 1. Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles. The process of agreeing on it has been challenging, with diplomats from all European member states hunkering down for multiple hourslong meetings for the past few weeks. A prohibition of Americans by Brussels partly reflects the shifting pattern of the pandemic. In March, when Europe was the epicenter, Mr. Trump infuriated European leaders when he banned citizens from most European Union countries from traveling to America. Mr. Trump justified the move as necessary to protect the United States, which at the time had roughly 1,100 coronavirus cases and 38 deaths. One list contains 47 countries and includes only those nations with an infection rate lower than the E.U. average. The other longer list has 54 countries and also includes those nations with slightly worse case rates than the E.U. average, going up to 20 new cases per 100,000 people.The existing restrictions on nonessential travel to all 27 member states plus Switzerland, Norway, Iceland and Liechtenstein were introduced on March 16 and extended twice until July 1, in a bid to contain the virus as the continent entered a three-month long confinement.“Discussions are happening very intensively,” to reach consensus in time for July 1, said Adalbert Jahnz, a spokesman for the European Commission, the bloc’s executive branch. He called the process “frankly, a full-time job.”The E.U. agency for infectious diseases, the European Center for Disease Prevention and Control, warned negotiators that the case numbers were so dependent on the level of truthfulness and testing in each country, that it was hard to vouch for them, officials taking part in the talks said. President Trump, as well as his Russian and Brazilian counterparts, Vladimir V. Putin and Jair Bolsonaro, has followed what critics call a comparable path in their pandemic response that leaves all three countries in a similarly bad spot: they were dismissive at the outset of the crisis, slow to respond to scientific advice and saw a boom of domestic cases as other parts of the world, notably in Europe and Asia, were slowly managing to get their outbreaks under control.Countries on the E.U. draft lists have been selected as safe based on a combination of epidemiological criteria. The benchmark is the E.U. average number of new infections — over the past 14 days — per 100,000 people, which is currently 16 for the bloc. The comparable number for the United States is 107, while Brazil’s is 190 and Russia’s is 80, according to a Times database.Once diplomats agree on a final list, it will be presented as a recommendation early next week before July 1. The E.U. can’t force members to adopt it, but European officials warn that failure of any of the 27 members to stick to it could lead to the reintroduction of borders within the bloc.The reason this exercise is additionally complex for Europe is that, if internal borders are open but member states don’t honor the same rules, visitors from nonapproved nations could land in one European country, and then jump onward to other E.U. nations undetected. uropean officials said the list would be revised every two weeks to reflect new realities around the world as nations see the virus ebb and flow. It was unclear if American officials were aware in advance of the exclusion of the United States from the draft lists, which have not been made public. Tweet Germany, France and many other E.U. nations want non-European travelers to be allowed, but are also worried about individual countries tweaking the safe list or admitting travelers from excluded countries, officials said. (New York Times) As of Tuesday, the officials and diplomats were poring over the two versions of the safe list under debate, and were scheduled to meet again on Wednesday to continue sparring over the details. Coronavirus testing at the Eleftherios Venizelos International Airport in Athens, Greece, this month. The E.U.’s final safe list of acceptable visitors will be revised every two weeks.Credit…Milos Bicanski/Getty Images 59 Views   no discussions Putting these safe lists together highlights the fraught, messy task of removing pandemic-related measures and unifying the bloc’s approach. But the imperatives of restoring the internal harmony of the E.U. and slowly opening up to the world are paramount, even if it threatens rifts with close allies including the United States, which appears bound to be excluded, at least initially.last_img read more

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Loan likely for Gorre

first_imgSwansea winger Kenji Gorre has spoken of his expected loan move to Dutch club ADO Den Haag after signing a new three-year contract at the Liberty Stadium. Neither Swansea nor Den Haag have confirmed Gorre’s switch to his native Netherlands but it is understood the 20-year-old will spend next season at the Eredivisie club. Gorre, the son of former Ajax and Feyenoord star Dean, joined Swansea from Manchester United in 2013 and made his senior debut for the Welsh club in the final Barclays Premier League game of last season at Crystal Palace. He signed a three-year deal on Monday after impressing for Swansea’s Under-21 side last term, scoring 18 goals and providing 10 assists, but accepts first-team opportunities will be limited with the presence of Jefferson Montero, Wayne Routledge, Nathan Dyer, Mo Barrow and new signing Andre Ayew in Garry Monk’s squad. “I have spoken with (ADO Den Haag) coach Henk Fraser and there is a very good feeling from that,” Gorre told Dutch website De Telegraaf. “The club has ambitions and I want to be part of the squad. “I am at an age when I should play every week but in Swansea there is not that (chance) yet . “For my development it is better to have a season to look somewhere else.” center_img Press Associationlast_img read more

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Cricket News India U-19 crush SL by innings and 147 runs, claim series 2-0

first_imgHembantota: India U-19 completed their domination of Sri Lanka with another emphatic result—a victory by an innings and 147 runs in the second ‘Youth Test’ here on Friday.Playing in his debut game at this level, left-arm spinner Siddharth Desai shone with four wickets on the final day, as the visitors completed a clean sweep with a 2-0 verdict.Desai returned impressive figures of 4/40 in 20 overs at the Mahinda Rajapaksa International Cricket Stadium.Beginning the final day on a precarious 47 for three, the Sri Lankans kept losing wickets frequently to be bowled out for 150 in their second innings, with Desai adding to his two wickets in the home team’s first innings.There were two wickets apiece for Yatin Mangwani and Ayush Badoni, too.While the Lankans conceded a 297-run lead to the Indians after being bowled out for 316 in their first innings, the abject surrender in the second essay made it look worse for the beleaguered hosts.Sachin Tendulkar’s son Arjun, who attracted a lot of attention during the short series, picked up the wicket of opener Kamil Mishara with his left-arm pace bowling on the third evening.This was Tendulkar junior’s debut series at the international arena. For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more

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NPFL: MFM FC Holds Katsina Utd to Extend Group A Lead

first_imgLobi, Kano Pillars, Abia Warriors win rescheduled matchesDuro IkhazuagbeMFM FC Wednesday gained one valuable away point against Katsina United in a rescheduled Match-day 9 clash at the Muhammadu Dikko Stadium to extend its leadership of Group A of the NPFL to six points.The Olukoya Boys were on the verge of picking maximum points from the away fixture when Chijioke Akuneto got the opening goal barely a minute before the half time break. The hosts however fought back gallantly with Martins Usule grabbing the equaliser from a close range volley in the 70th minute.Earlier in the game, Kastina United missed the chance to take the lead in the 17th minute when Destiny Ashadi missed from the spot.Elsewhere in another rescheduled Match-day 8 fixture in Makurdi, Lobi Stars picked all three points with 2-1 defeat of Rivers United.The win lifted Lobi five places to third position of the Group A standing on 14 points from seven matches. They are just two points behind Enyimba in number two position.Sikiru Alimi put Lobi Stars ahead on the stroke of half-time firing past Drissa Bamba after he was set up by Kelly Kester. Micheal Stephen got the second in the 53rd minute nodding home Moses Bunde cross.Cletus Emotan got the consolation goal for Rivers United 13 minutes from time.Head coach of Lobi Stars, Solomon Ogbeide praised his charges for the effort that culminated in the win while also complimenting the vanquished opponents.“We played, we won. The side we played, they are not a bad side. We knew we were going to play a very tactical side and we prepared too,” Ogbeide told reporters after the game.In Kaduna, Kano Pillars recorded a 2-0 away win against Kada City with Adamu Hassan and Nyima Nwagua scoring both goals.Abia Warriors also recorded a 3-1 away win against Yobe Desert Stars in Damaturu. Samson Obi hit a brace for the visitors with David Uduak scoring the other goal from the spot a minute after the hour mark.Philip Auta scored Yobe Desert Stars’ only goal of the game.While the win for Pillars lifted the Sai Masugida to fourth place of Group B Abia Warriors away victory also lifted the Umuahia team to sixth spot in the standing.RESULTSOlympic QualifierLibya 2-0 NigeriaNPFLKatsina Utd 1-1 MFM FCKada City 0-2 Kano PillarsYobe Stars 1-3 Abia WarriorsLobi Stars 2-1 Rivers UtdShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

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