Limerick councillor surprised to learn that he’d bought a convent

first_imgLimerick’s O’Connell Street Revitalisation Works to go ahead Linkedin New parklet changes Catherine Street dining experience Twitter Print NewsLimerick councillor surprised to learn that he’d bought a conventBy Alan Jacques – January 19, 2018 5105 Advertisement TAGSCllr John GilliganCllr Séighin Ó CeallaighKieran LehaneLimerick City and County CouncilLimerick Metropolitan DistrictLimerick Twenty ThirtySalesian ConventSalesian Secondary SchoolSinn Fein WhatsApp Limerick city centre gets a deep cleancenter_img RELATED ARTICLESMORE FROM AUTHOR O’Donnell Welcomes Major Enhancement Works for Castletroy Neighbourhood Park Cllr John Gilligan is surprised to read in the Limerick Post that he has acquired a convent.INDEPENDENT councillor John Gilligan spoke of his absolute surprise on reading in the Limerick Post last week that he had bought a convent.The straight-shooting City North representative, was commenting in City Hall on the announcement that Limerick City and County Council have purchased the former Salesian Secondary School and Convent for Limerick Twenty Thirty as part of its redevelopment of urban areas.“Nobody told me,” Cllr Gilligan told the executive of the local authority at this month’s Metropolitan District meeting.Sign up for the weekly Limerick Post newsletter Sign Up “I had to read it in the Limerick Post that I had bought a convent. I thought Limerick Twenty Thirty was supposed to have been set up for the redevelopment of three key sites at Patrick Street, the Hanging Gardens on Henry Street and the Cleeve’s site.“Now, all of a sudden there are four sites. Next we will be hearing they have bought a big dairy farm in Kerry,” he said.Cllr Gilligan expressed his disappointment that councillors were not informed beforehand about plans to purchase the Salesian’s site, which had been in use as a girls secondary school at Fernbank since the 1960s.“No one told us until afterwards. In fact I had to read about it in the paper. This should not be allowed. This should not happen and is something that will definitely have to change,” he insisted.Sinn Fein councillor Séighin Ó Ceallaigh then described Limerick Twenty Thirty as the NAMA of Limerick City and County Council. He felt councillors did not have enough of a say in what goes on in local government and saw the situation as “worrying”.“We are elected representatives and should have a say. I thought Limerick Twenty Thirty was going to look at key derelict sites that need to be developed, not some NAMA-esque quango,” he fumed.“It is worrying when we don’t know what’s happening”.Director of Services for the Metropolitan District, Kieran Lehane explained that the Salesian Secondary School and Convent was acquired as its boundaries extended onto the Cleeve’s site.“This makes it a more complete site with a range of fine buildings. The Council has acquired an asset,” he informed councillors.by Alan [email protected] Facebook Email Call to extend Patrickswell public sewer line Previous articleFresh Film Festival 2018 – Last CallNext articleParticipation in Limerick’s RDS science fair reaches record high Alan Jacqueshttp://www.limerickpost.ie Ireland’s First Ever Virtual Bat Walk to take place in Limerick last_img read more

Chatwins closes Hanley outlets but revamps other stores

first_imgChatwins bakery has shut three shops around Hanley, while it continues to refit and re-brand other more profitable stores.The bakery has most recently shut its Tontine Square site in Hanley – citing reduced footfall in the area.Company boss Edward Chatwin explained to The Sentinel in Stoke: “Unlike other areas of our business, such as South Cheshire where we are seeing strong sales growth, Hanley has declined significantly.“There is now a very high vacancy rate around Tontine Square. This has reduced footfall in the area and, as a result, our sales have also declined. With the lease having come to an end, we have decided to vacate the unit.”Despite this, the bakery also said would be keeping stores in Newcastle, Stone and South Cheshire open, while it refitted a number of them with the new branding.Chatwins began to rebrand and refit its shops in late 2014, and had since seen sales at those sites up 30%-40%.The refits are intended to give a more modern look and feel to the bakery, and the firm has used market research and inspiration from other coffee shops and bakeries to create the looks.last_img read more

S&P: Another 8GW of coal capacity due to go offline in 2019

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):More than 49,000 MW of new power generation capacity is expected to be added to the U.S. grid in 2019, according to S&P Global Market Intelligence data. Accounting for capacity set to be retired, the U.S. should see a net gain of 40,823 MW.Specifically, 49,420 MW are expected to come into service, and 8,597 MW that have received approval from needed regulatory authorities are expected to be retired. Another 2,216 MW of operating capacity is to be converted to another fuel source.Coal-fired capacity accounts for 68% of the scheduled retirements, at 5,834 MW. This figure only includes retirements that have already received approval from regulatory bodies. Coal retirements in 2018 totaled about 11,800 MW. Another 2,216 MW of coal-fired capacity is expected to be converted to natural gas or other nonrenewable operations. This includes one of two 1,100-MW units at Duke Energy Corp. subsidiary Duke Energy Carolinas LLC’s Belews Creek plant in Stokes County, N.C. The unit is expected to start burning natural gas in place of coal in September. The second Belews Creek unit is due for conversion to gas in 2020.Renewable and gas-fired capacity combine for the vast majority of scheduled capacity additions, though the largest single source of fuel for new capacity additions in 2019 is wind, with 22,447 MW, or 45% of all capacity additions. The largest wind facility under construction is the 500-MW Goodnight Wind Energy plant in Armstrong County, Texas. The plant, which is owned by FGE Power, is scheduled to become operational in two phases. Phase 1 totals 252 MW of capacity and is slated to go online in June, followed by the 248-MW Phase 2 in October.Solar accounts for 22% of scheduled 2019 additions, totaling 11,050 MW. The largest solar project under construction is the 250-MW Phoebe Energy Project owned by Innergex Renewable Energy Inc. The plant is being built in Winkler County, Texas. The majority of the plant’s output is under contract with Shell Energy North America (US) LP, a power marketing subsidiary of Royal Dutch Shell PLC.More ($): US grid expected to add a net 40,800 MW of generating capacity in 2019 S&P: Another 8GW of coal capacity due to go offline in 2019last_img read more

LDI market breaches £1trn as smaller schemes join hedging trend

first_imgSource: XPS Investment. *LGIM did not participate in XPS’ survey in 2018 and 2017. LGIM data is sourced from the KPMG LDI Survey 2017 and assumed to remain constant in 2017 and 2018. The consultancy estimated that over half (54%) of UK pension schemes’ liabilities were now hedged with LDI. This was based on estimating that the UK private sector had a total DB pension scheme liability of around £1.9trn and discount rates of gilts plus 0.5% per annum.However, it also said the actual level of hedging was probably higher as the 54% excluded hedging achieved through holding bond assets outside a specific LDI hedging programme.BlackRock, Insight Investment, and Legal & General Investment Management (LGIM) continued to dominate the LDI market, with XPS’ survey estimating they managed 87% of LDI assets.BMO Global Asset Management added 93 new mandates in 2018 and now had the largest number of mandates, although the manager was still fourth largest by the notional value of liabilities hedged, according to XPS.The consultancy noted that Insight Investment had “also made some significant additions over the year”. It had taken on 30 new mandates to hedge an additional £67bn of notional liabilities. The vast majority of new mandates came from smaller defined benefit (DB) pension schemes, according to XPS. It attributed this in part to the growth of investment platforms and fiduciary management.Directly accessed pooled funds were the single biggest contributor to the growth in mandate numbers, according to the consultancy. It said that 92% of the new mandates in 2018 were from pooled solutions, up from 87% in 2017.Tim Miller, consultant at XPS, said: “73% of all LDI mandates are now in pooled LDI solutions, highlighting the efforts made by managers and advisers to bring accessible LDI solutions to all schemes.”Total hedged liabilities by manager Pension schemes hedged an additional £59bn (€69bn) of liabilities last year, taking the liability-driven investment (LDI) market to over £1trn, according to XPS Pensions Group.Simeon Willis, chief investment officer at XPS Investment, the group’s investment consulting arm, said: “The pensions mass market has overcome its initial reservations and LDI is now a £1trn market.“This is a great achievement for fund managers, advisers and trustees, who are now firmly taking control of their schemes’ futures, not leaving it to chance.”Reporting on its latest annual LDI survey, XPS said broadly all of last year’s growth – up 6% from £965bn in 2017 – could be attributed to new mandates, which increased by 12%, or 265.last_img read more