Institutions launch initiative to standardise private equity reporting

first_imgThe initiative’s first aim is to design a reporting template that details, for each limited partner investor, how much has been paid in fees, expenses or incentives to managers and their affiliates.New guidelines from the ILPA will mean investors will be given a “clearer picture” from managers of compensation from portfolio companies and affiliated entities.ILPA chief executive Peter Freire said investors had more bespoke reporting requirements at a time when managers were adjusting to new regulation, making compliance more difficult.“It made benchmarking programme costs and net performance more difficult,” he said.“The ILPA’s members recognise the need for a streamlined and uniform approach that will yield the information required to effectively steward the capital entrusted to them by retirees, governments and academic institutions.”The initiative will also address the role of third parties – such as administrators, auditors and consultants – in ensuring compliance governing documents, as well as propose best practices on fee and expense reporting.“Investors believe fees must be appropriate, arm’s length, reasonable and disclosed,” Freire said.“This effort points to a logical and necessary progression for private equity down the path of becoming a more institutionalised asset class.“Transparency around fees and expenses is critically important to our members.”The template, currently in development, will be published for feedback at the end of the month. Global institutional investors have joined forces to force private equity managers to implement standardised reporting on fees and performance.Backed by a number of institutions, investment and reporting professionals and advisers, the Institutional Limited Partners Association (ILPA) launched the ‘Fee Transparency Initiative’ with the view to making private equity reporting uniform.The ILPA first issued guidance to the private equity industry in 2011 outlining what elements limited partners want in financial reporting.Investors including Dutch pension fund managers APG and MN are part of the current initiative, which also includes data-comparison company CEM Benchmarking and several US pension funds.last_img read more

Morgan commits to Foxes

first_img The 30-year-old, who had just 12 months left on his existing deal, played in all but one of the Foxes’ league matches as they secured promotion. “I’m delighted to finally commit my future to this club,” the centre-back told Press Association “Winning promotion with this squad last season and lifting the Championship trophy were the proudest moments of my career and I can’t wait to hopefully lead the team out on the opening day of the Premier League season. “We’ve all worked so hard to win promotion and the whole squad is determined to make the most of it. “There are some big challenges ahead in the next few years and I’m excited that I’m going to be part of it.” Manager Nigel Pearson felt it was key to secure the player’s future with an important season ahead. “Wes has been every bit the captain we hoped he would be when we signed him two-and-a-half years ago,” he said. “He’s a leader on and off the pitch, sets a terrific example for young players and is an extremely positive influence on the squad. “He is one of (a) number of players that has worked incredibly hard to reach the Premier League, both during his time at Leicester and throughout his career, and he fully deserves the opportunity to test himself at that level. “I’m absolutely delighted that his long-term future remains with us.” center_img Leicester captain Wes Morgan has signed a new three-year contract as the club prepare for their return to the Barclays Premier League. last_img read more

Update on the latest sports

first_imgFournette clears waiversUNDATED (AP) — Running back Leonard Fournette is a free agent after going unclaimed 24 hours after being waived by the Jacksonville Jaguars. Fournette’s representatives responded to the waiver move by formally filing a grievance against the Jaguars in an effort to recoup the $4.17 million in base salary he was initially guaranteed for this season. Jacksonville voided all remaining guarantees in Fournette’s rookie deal following his one-game suspension for fighting with Buffalo linebacker Shaq Lawson in November 2018.In other NFL news:— Rams linebacker Travin Howard will miss the upcoming season after tearing the meniscus in a knee. His injury deprives the Rams of a probable starter at inside linebacker for the second straight season. — Browns starting linebacker Mack Wilson does not need surgery for his hyperextended left knee and is expected to play this season. Wilson had to be carted off the field after hurting his knee while breaking up a pass on Aug. 18. September 2, 2020 Associated Press Americans Christina McHale, Claire Liu and Lauren Davis were ousted in the women’s bracket.Meanwhile, The Associated Press has learned that seven entrants have been placed under stricter COVID-19 protocols after contact with the only athlete to test positive for the coronavirus at the tournament. The seven include Richard Gasquet, Grégoire Barrère and Ysaline Bonaventure, each of whom played on Tuesday. One of the seven is Kirsten Flipkens, who was scheduled to compete on Wednesday.Contact tracing determined there were seven players who potentially could have been exposed to COVID-19 by Benoit Paire who was taken out of the draw Sunday because of his test result.NASCAR-BYRON CONTRACTByron gets extension after Daytona win Nikola Jokic (nih-KOH’-lah YOH’-kihch) made the tiebreaking basket with 27 seconds left before Denver held off the Jazz, 80-78. Jokic had 30 points and 14 rebounds and Jamal Murray scored 17 points to help Denver earn a meeting with the Clippers.The Jazz almost pulled out the victory, but Mike Conley’s 3-pointer spun out at the buzzer.Donovan Mitchell scored 22 points and Rudy Gobert (goh-BEHR’) added 19 with 18 rebounds for Utah.NBA-POLICE SHOOTING-WISCONSIN-BUCKSBucks players upset with Wisconsin Legislature’s inaction Share This StoryFacebookTwitteremailPrintLinkedinRedditNBA-RAPTORS-CELTICSCelts beat Raptors againLAKE BUENA VISTA, Fla. (AP) — Last year’s Boston Celtics won their first five NBA playoff games before dropping the next four to the Milwaukee Bucks. That trend won’t continue this year. Yanks finally beat RaysUNDATED (AP) — The New York Yankees had dropped six straight to Tampa Bay before finally solving the Rays on Tuesday.Gio Urshela (ur-SHEH’-luh) hit a tiebreaking, two-run double and came around to score on the play to lift the Yankees past the Rays, 5-3. Urshela plated an insurance run on an error by Willy Adames (ah-DAH’-mehs), beating the tag at the plate.The game ended with empty benches after Tampa Bay pinch-hitter Michael Brosseau took exception to being buzzed near the head by Aroldis Chapman. The Yankees closer struck out Brosseau to end it, and Brosseau began walking toward the visiting dugout before turning back to exchange words with someone on the Yankees.DJ LeMahieu (leh-MAY’-hyoo) hit a pair of solo homers for the Bombers, who are 2-7 versus Tampa Bay this season. CHARLOTTE, N.C. (AP) — William Byron now has a contract extension through 2022 at Hendrick Motorsports. The extension was finalized in early August and announced today, three days after Byron’s win at Daytona International Speedway earned him a berth in NASCAR’s playoffs. Byron is in his third full season driving the No. 24 Chevrolet for Hendrick and is the first driver other than Jeff Gordon to win with that entry. HORSE RACING-KENTUCKY DERBYDerby favorite draws post position 17LOUISVILLE, Ky. (AP) — Tiz the Law is the 3-5 morning-line favorite for Saturday’s Kentucky Derby and will attempt to become the first winner from the No. 17 post position drawn. The best finish in 41 starts from that spot was a second place by Forty Niner in 1988 and two thirds. A Like the Flyers, the Canucks forced a sixth game by escaping with a 2-1 win over the dominant Golden Knights.Elias (eh-LEE’-uhs) Pettersson scored the go-ahead goal early in the third period to back Thatcher Demko, who made 42 saves in his first NHL playoff start.Vegas outshot Vancouver 43-17 yet scored just once, on a highlight reel goal by defenseman Shea Theodore in the second. Brock Boeser (BEH’-sur) also scored for the Canucks and got the primary assist on Pettersson’s goal by taking the shot the 21-year-old Swede deflected past Robin Lehner (LEH’-nur). Game 6 is Thursday at Edmonton.MLB-SCHEDULE Final game of Oakland-Seattle series postponedUNDATED (AP) — Thursday’s game between the Seattle Mariners and visiting Oakland Athletics has been postponed, wiping out the entire three-game series. The decision allows for additional testing and contact tracing after a member of the Athletics’ organization tested positive for the coronavirus. Major League Baseball says the series will be made up with a doubleheader in Seattle on Sept. 14 and another in Oakland on Sept. 26. Also around the majors:— Dodgers third baseman Justin Turner has landed on the 10-day injured list with a strained left hamstring. Turner injured his hamstring while stealing second base at Texas last Friday. The major league-leading Dodgers also activated third baseman Edwin Ríos and left-hander Alex Wood from the injured list. — Elvis Andrus (AN’-droos) hit a tying solo homer in the ninth inning and the Rangers scored twice in the 10th on a balk and two errors to beat the Astros, 6-5. The Rangers trailed by one entering the ninth after the Astros took the lead on a three-run homer by Michael Brantley in the seventh. — Chris Taylor collected a season-high four RBIs and Julio Urías (YOO’-ree-uhs) pitched six innings of four-hit ball in the Dodgers’ 6-3 victory over the Diamondbacks. Taylor, AJ Pollock and Max Muncy had two hits apiece as Los Angeles won for the 16th time in its last 19 games.— Alex Dickerson hit three home runs and matched a career high with six RBIs as the Giants rolled to their 10th win in 13 games, a 23-5 dismantling of the Rockies. Brandon Crawford also homered among his three hits and had six RBIs, while Donovan Solano supplied four hits and six ribbies. — Ian Happ hit a solo homer and furnished the tiebreaking in the 11th inning to send the Cubs to an 8-7 victory over the Pirates. Kyle Schwarber belted a two-run homer before Chicago blew a 6-2 lead in the sixth.— Brad Miller homered twice and drove in a career-high seven runs as the Cardinals battered Sonny Gray and the Reds, 16-2. Kolten Wong went 4 for 4 and scored four times as the Cardinals set season highs for runs and hits with 23. — Marcell Ozuna (oh-ZOO’-nah) produced his first three-homer game and finished with six RBIs in leading the Atlanta Braves to a 10-3 rout of the Red Sox. Ozuna was 3 for 5 with a two-run homer in the first inning, a solo shot in the seventh and a three-run blast in the eighth.— Aaron Nola struck out nine while tossing two-hit ball for eight innings of the Phillies’ 6-0 shutout of the Nationals. Andrew McCutchen crushed a three-run homer and Alec Bohm supplied a solo shot and an RBI double.— Victor Reyes had four hits and five RBIs in the Tigers’ sixth consecutive win, a 12-1 bombing of the Brewers. Surprising Detroit moved back above .500 at 17-16, but it lost starting outfielder JaCoby Jones to a fractured left hand.— Renato Núñez hit two home runs, including a three-run blast that helped the Orioles deal the Mets their fifth straight loss, 9-5. Anthony Santander (sahn-tahn-DEHR’) also slammed a tiebreaking, three-run homer in the sixth.MLB-NEWScenter_img The Rays now lead the AL East by 3 1/2 games over New York.Elsewhere around in the majors:— Starling Marte lifted a tiebreaking, solo homer in the eighth inning to give the Marlins a 3-2 win over the Blue Jays. Jon Berti also homered and Marte scored the tying run on Garrett Cooper’s sixth-inning double.— Byron Buxton came off the injured list and had two hits, including the go-ahead single in the seventh inning to push the Twins past the White Sox, 3-2. Michael Pineda (pih-NAY’-dah) pitched six strong innings, giving up two runs and six hits in his first outing after being suspended 60 games last year for using a banned diuretic. — The Indians blew out the Royals, 10-1 as Franmil (FRAHN’-meel) Reyes went 5 for 5 with two doubles and a homer. Zach Plesac (PLEE’-sak) allowed a run and four hits over six innings in his first start since being demoted for violating coronavirus protocols on August 8. TENNIS-US OPENMurray wins in 5 after falling behind 0-2NEW YORK (AP) — Andy Murray needed over 4 1/2 hours to win his first Grand Slam match in nearly 20 months, dropping the first two sets before earning a 4-6, 4-6, 7-6, 7-6, 6-4 triumph over Yoshihito Nishioka at the U.S. Open. The 33-year-old Murray is coming off two hiop surgeries and was treated for blisters on his two big toes by a trainer during a medical timeout during the match. Serena Williams began her latest attempt to win a 24th Grand Slam singles trophy by beating Kristie Ahn. ll the race favorites will break from the outside at Churchill Downs, including second choice Honor A.P. from the No. 16 post and third choice Authentic at No. 18.Tiz the Law won the Belmont Stakes earlier this summer.The Preakness in Baltimore will take place next month. The Derby is being run without any fans in attendance.NFL-NEWS The two Americans split the first 10 games before Williams pulled away to win 7-5, 6-3. The victory was her 102nd at the tournament, breaking the tie she held with Chris Evert for the most by a woman in the Open era.Venus Williams lost in the opening round at the U.S. Open for the first time in her long career. Williams had been 21-0 in first rounders before her 6-3, 7-5 loss to No. 20-seeded Karolina Muchova.Kim Clijsters (KLYS’-turz) couldn’t win her first Grand Slam match in eight years. The four-time major champion was beaten by Ekaterina Alexandrova, 3-6, 7-5, 6-1.Winners in the men’s bracket include second seed Dominic Thiem (teem), eighth seed Roberto Bautista-Agut (ah-GOO’) and No. 10 Andrey Rublev. Second seed Sofia Kenin, fifth seed Aryna Sabalenka, seventh seed Madison Keys, No. 9 Johanna Konta and No. 10 Garbine Muguruza (moo-guh-ROO’-thuh) advanced on the women’s side. American Sloane Stephens also moved into the second round.It was a tough day for a few U.S. players. Sam Querrey, Denis Kudla, Bradley Klahn and Mackenzie McDonald were dispatched in Round 1. Jeffrey John Wolf advanced in four sets. Update on the latest sports —The Raiders have placed receiver Tyrell Williams on season-ending injured reserve with a torn labrum in his shoulder. Williams got injured last month in practice and initially was going to try to play through the injury.— The NFL has updated its game day protocols by requiring every coach and staff member in the bench area to wear a mask and reducing the size of each team’s travel party. Owners also will have to follow COVID-19 testing requirements to gain access to the locker room, field or team charter. DOCTOR-SEXUAL ASSAULT-MICHIGAN STATEMichigan State’s Nassar review mostly clears staffDETROIT (AP) — Michigan State University mostly found no violations of campus policy in a review of roughly 20 former or current staff members, according to a report. TORONTO (AP) — The Philadelphia Flyers are still alive in the Stanley Cup Playoffs after beating the Islanders in overtime for the second time in the series.Scott Laughton scored 12:20 into the extra session to give the Flyers a 4-3 victory, cutting New York’s series lead to three games to two. Laughton was the hero after the Isles scored twice late in the third period to tie it.Claude Giroux (juh-ROO’), James van Riemsdyk (REEMZ’-dyk) and Matt Niskanen (NIHS’-kah-nehn) each scored their first goals of the playoffs to stake the Flyers to a 3-1 lead after Josh Bailey put New York ahead with a power-play goal early in the second period. Brock Nelson got the Islanders within 3-2 at the 15:46 mark of the third period, 1:33 before Derrick Brassard tied it.Carter Hart finished with 29 saves for the Flyers, one more than Isles netminder Semyon Varlamov (SEHM’-yahn vahr-LAH’-mahv).Game 6 is Thursday in Toronto. LAKE BUENA VISTA, Calif. (AP) — Milwaukee Bucks players and the team’s coach said Tuesday they were disappointed that the Wisconsin Legislature didn’t take action on policing reform bills during a special session Monday called by Gov. Tony Evers.In a Zoom session on Tuesday, Bucks guard Kyle Korver called the Legislature’s inaction “disappointing.”Democrats urged Republicans who control the Legislature to take up the bills, but both the state Senate and Assembly met for less than 30 seconds each before ending the session. Republican leaders gave no indication when they may reconvene. NHL-STANLEY CUP PLAYOFFSFlyers outlast Isles to stay alive The Celtics are 6-0 in this postseason and owners of a two-games-to-none lead in the Eastern Conference semifinals after rallying for a 102-99 win over the Toronto Raptors. Boston carried an eight-point deficit into the final period before outscoring the defending champs, 32-21.Jayson Tatum poured in 34 points and Marcus Smart added 19 for the Celts, who hit 15 of their 38 3-point attempts and were 23 of 25 from the line. Smart nailed five 3-pointers in the final period.Smart made 3-pointers on three consecutive possessions in a 73-second span early in the fourth. He added another 3 about a minute later and a four-point play a minute after that, putting Boston up 86-85 with 7:55 left. It was part of a 29-9 run that put Boston up, 95-87 with 4:18 left.OG Anunoby had 20 points and Fred VanVleet added 19 to lead Toronto.The Nuggets have advanced to the Western Conference semifinals by becoming the 12th team in league history to win a series after trailing 3-1. Those staff members were said to have received complaints about Larry Nassar, the doctor convicted of molesting female athletes, according to a report Tuesday. The report is part of a 2019 agreement with the U.S. Education Department, which included a $4.5 million fine and MSU’s pledge to greatly change how it responds to sexual harassment and assault. The school was required to determine if employees properly handled complaints about Nassar, based on policies in place at the time of the allegation. MSU found that the evidence mostly fell in favor of staff.last_img read more

Trinibago Knight Riders successfully defend Hero CPL title after cruising past…

first_imgTrinbago Knight Riders sealed a third Hero Caribbean Premier League (CPL) title with a commanding eight-wicket victory over Guyana Amazon Warriors at the Brian Lara Academy.The best two teams in this season’s competition have now met four times in the last 11 days and won two games apiece, but this was the one that really mattered and it went decisively the Knight Riders’ way.Fittingly, it was Colin Munro who hit the winning runs having become the first batsman both to pass 500 runs and then to score six half-centuries in a single Hero CPL season. His brutal 68* from 39 balls eased his team past a target of 148 after fellow New Zealander Brendon McCullum had got the run-chase off to a flying start with 39 off 24.Munro brought up his latest 50 from just 33 balls with successive sixes off Rayad Emrit, adding a third Hero Maximum in a 27-run 17th over that effectively ended the contest.That onslaught left just four runs needed from the last 18 balls, and after collecting two runs from the first ball of the 18th over Munro then slashed the third to the boundary to spark wild celebrations from his team-mates and in the stands.It was the bowlers, though, who had done most of the heavy lifting to secure back-to-back titles for the Knight Riders, with the Warriors – who have now lost four Hero CPL finals – left to rue a dramatic batting collapse in the second half of their innings.All the Knight Riders bowlers played their part in restricting the Warriors to 147/9. Dwayne Bravo was able to use just his five main bowlers, including himself, with all five getting something in the wickets column and none going for more than eight an over.Ali Khan made the perfect start, ripping out Cameron Delport’s off stump with the very first ball of the night. He finished with 1/20 from four exemplary overs to end a fine Hero CPL campaign with 16 wickets to his name.One man who had an even better season, though, is Fawad Ahmed, who grabbed his 22nd and perhaps most significant wicket when he removed Shimron Hetmyer. After hitting a googly straight back over the bowler’s head for six, Hetmyer was suckered by a similar but slightly slower delivery. He reached for it, and this time could only edge it to slip where Dwayne Bravo was waiting and claimed huge reward for holding his nerve and maintaining an attacking field.Luke Ronchi was holding the innings together but his departure for a well-made 44 from 35, chipping Khary Pierre to deep cover, triggered a collapse from 79/2 to 109/8. Pierre himself snagged two more wickets, including an outrageous caught and bowled to see off Sherfane Rutherford. The ball was drilled back at the bowler, who jerked his head out of the way and stuck up his hands. Remarkably, the ball stuck in his right hand and a disbelieving Rutherford had to drag himself from the field.Dwayne Bravo’s aggressive field setting struck again when Chadwick Walton edged Pierre to slip, while the captain landed two significant blows of his own with both Jason Mohammed and Chris Green top-edging surprise bouncers to be caught.Sunil Narine, bowling through the pain of a shoulder injury, had Sohail Tanvir caught at short third-man attempting a slog-sweep.At 109/8 the Warriors were sinking without a trace, but Shepherd, Emrit and Imran Tahir scrambled 39 from the last four overs to give themselves something to bowl at.It never really looked like being enough, though, with the Warriors only managing to dismiss McCullum, caught at cover off Green, and then Ramdin for 24 when he clattered his own stumps having gone too deep in his crease against Shepherd.Darren Bravo was forced to retire hurt after seeming to injure a hamstring completing a single, but that was the only real negative on another glorious night for the Knight Riders.last_img read more

Stickyeyes: Industry SEO specialist gears up for #bosweek

first_imgShare StumbleUpon Paul Hill, Stickyeyes Sales DirectorIn the digital era, the complex world of SEO and algorithms is becoming increasingly crucial for driving traffic and creating business. The sports betting industry is no different, and a number of marketing firms have formed to provide guidance on these very topics.Digital and content marketing agency Stickeyes talks us through the best way to drive traffic, spend efficiently and improve the customer experience, before the Leeds-based firm hosts a Roundtable at next week’s Betting on Sports event.Pay-per-click (PPC) All gaming companies want to drive as many First Time Depositor’s (FTD’s) at the most competitive cost per acquisition (CPA) as possible. But…this must be done with the primary consideration in mind – the lifetime value (LTV) and the payback model.Driving a low CPA can look great at first glance, but is this at the expense of player value, retention and return on investment (ROI)? Stickyeyes’ highly-experienced team can help you find the right balance for your direct player acquisition plans.SEODriving organic traffic for the sports and igaming sector remains challenging with the rules of engagement always changing. Stickyeyes can help map out a clear ROI-led strategy to help you compete and dominate with safe and sustainable strategies. Our content and PR-led outreach campaigns are helping our clients bring best practice customer engagement and UX to the fore.Whether you measure FTD’s, traffic or links, Stickyeyes delivers.Complete SearchWith customer acquisition teams often working in separate silos, with separate agencies for channels, territories and products, spend efficiency and the customer experience often suffer as a result.Stickyeyes has developed an integrated paid and organic search approach that aims at improving search visibility and market share in the most cost efficient way – with a focus on reducing wasted investment and increasing a higher value of FTD.Stickeyes Sales Director Paul Hill hosts an acquisition-focused Roundtable from 14.30-15.30 on Wednesday, with the firm also exhibiting at stand number J14. Register for all Roundtables here. Share Submitlast_img read more

Premier Media President/CEO, Josh Dunn, to Keynote Thurston Chamber’s 113th Annual…

first_imgFacebook8Tweet0Pin0Submitted by Thurston County ChamberOn Wednesday, May 16, join the Thurston County Chamber for our 113th Annual Meeting and the beginning of the Chamber’s 144th year.The program will include a review of last year’s successes and an optimistic look forward to 2018-2019. Josh Dunn, founder and CEO of Premier Media Group, will deliver the keynote address.Dunn is the creative leader behind 425 Magazine, South Sound Magazine, 425 Business Magazine, and the new South Sound Business magazine-formerly Business Examiner. His 22-year career has focused on building creative media brands for a variety of markets.Three years ago, Josh experienced a tragic fall off a roof. Looking back, he considers the fall a blessing in disguise, because it forced him into a period of isolation. He was able to step away from the day-to-day operation of his business and the retreat helped him develop a new leadership style which radically transformed his life. He’ll share his philosophy on reducing technology use and doing less while maintaining productivity.Reservations are required for this event. Register at thurstonchamber.comThank you to our presenting sponsors, The Port of Olympia and Heritage Bank.last_img read more

Stick of the Basque Government to the coronavirus tests carried out by Alavés and Baskonia

first_imgWell, with this context, about 100 professionals from the Baskonia Group -Players, coaches, assistants or employees of Alavés and the basketball team- were subjected to tests. The club paid for a private service and, at the Mendizorroza and Buesa infirmaries respectively, they passed the controls. Osasuna has today declined the option of carrying them out in Pamplona. Also is true that Alavés announced last Saturday two positive cases in the technical-sports structure and that raised the alarms. It also didn’t help much that Mendizorroza’s last visitor was Valencia, one of the most affected clubs.The Basque Government Health Minister, Nekane Murga, has been blunt when questioned in this regard. “I think they have not made a rational use of health resources“He commented. In the current context, with a scenario of widespread sustained community transmission, the new protocol is very restrictive and obviously does not include asymptomatic youth.As for the delivery of medical supplies by both clubs to the Txagorritxu hospital, it must be agreed that “all natural or legal persons are obliged, within 48 hours, to deliver to the health authorities masks, gels, PCR tests or rapid detection devices in addition to other materials” It was an order from the Ministry of Health on Sunday night. Compulsory, not voluntary.On the other hand, Both Baskonia and Alavés announced yesterday that they will pay tribute to public health in the first two official matches of both squads with a message on the shirts (front and back) that will remember “OSI Araba”, an entity that brings together the hospitals and outpatient clinics of the province. Alavés and Baskonia, obviously, hardly ever visit public hospitals. They have their mutual, their private centers (San José Polyclinic) and they have the advice of the most experienced physicians in sports injuries such as the famous traumatologist Mikel Sanchez, Rafael Nadal’s doctor, Mikel Landa or the King Emeritus among other athletes. Deportivo Alavés football and Baskonia basketball passed medical tests for the coronavirus yesterday in a territory totally plagued by the pandemic. The official figures are far from reality because there are thousands of citizens going through hardships at home with the uncertainty of whether they have the virus or not. And light cases are no longer tested (that is, more or less 80% of the total number).Communicating with the ambulatory is science fiction, there have been people who have spent almost two hours listening to the violins of the piped music on 900 203 050 (for Álava it is no longer operational) and common sense leads people from Vitoria not to go to the ER due to saturation and to make room for cases related to the elderly or groups at risk.last_img read more


first_imgSEVERAL people have been injured in a car crash in Letterkenny.The incident happened close to the Dry Arch Roundabout in the early hours of this morning.Three people have been  taken to Letterkenny General Hospital for treatment. The driver of the car is understood to be in a critical condition in the intensive care unit while the other two are not seriously hurt.The crash happened just after 3am.All three young men in the car had to be cut from the vehicle by fire crews.Diversions remained in place overnight whilst Gardai awaited daylight to investigate the crash. Traffic is allowed to use the road coming into Letterkenny but diversions are in place on the road out of the town.Gardaí are warning of traffic disruption for several more hours. SEVERAL PEOPLE HURT IN SERIOUS ROAD SMASH was last modified: November 13th, 2013 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

Does Money Inspire Us to Cooperate?

first_imgMoney is often called the root of all evil, but it may deserve some credit for making us cooperative—at least when we are in big groups. A study of how a monetary system can change behavior finds that filthy lucre may have been crucial for the evolution of large human populations.Ask most economists what money is good for and they may throw out the word “fungibility,” which means the quality of being exchangeable. Unlike traditional barter systems, where people trade one useful thing for another, a monetary system uses symbolic tokens that can be traded for anything. That opens the possibility of exchanging goods—say, a cow for a year’s supply of bread—for which a fair swap would otherwise be too complex to figure out.But beyond its basic utility, money could have other benefits to society. One theory holds that money makes cooperation possible in large groups of strangers, where trust is in short supply. For example, if you give your cow to a stranger in exchange for money, you don’t have to trust that person to keep your bread supply coming all year; you can use the money to buy bread from anyone. For this reason, monetary systems may have been crucial for human urbanization.Sign up for our daily newsletterGet more great content like this delivered right to you!Country *AfghanistanAland IslandsAlbaniaAlgeriaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBolivia, Plurinational State ofBonaire, Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoCongo, The Democratic Republic of theCook IslandsCosta RicaCote D’IvoireCroatiaCubaCuraçaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and Mcdonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIran, Islamic Republic ofIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKorea, Democratic People’s Republic ofKorea, Republic ofKuwaitKyrgyzstanLao People’s Democratic RepublicLatviaLebanonLesothoLiberiaLibyan Arab JamahiriyaLiechtensteinLithuaniaLuxembourgMacaoMacedonia, The Former Yugoslav Republic ofMadagascarMalawiMalaysiaMaldivesMaliMaltaMartiniqueMauritaniaMauritiusMayotteMexicoMoldova, Republic ofMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorwayOmanPakistanPalestinianPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalQatarReunionRomaniaRussian FederationRWANDASaint Barthélemy Saint Helena, Ascension and Tristan da CunhaSaint Kitts and NevisSaint LuciaSaint Martin (French part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Dutch part)SlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanTanzania, United Republic ofThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUruguayUzbekistanVanuatuVenezuela, Bolivarian Republic ofVietnamVirgin Islands, BritishWallis and FutunaWestern SaharaYemenZambiaZimbabweI also wish to receive emails from AAAS/Science and Science advertisers, including information on products, services and special offers which may include but are not limited to news, careers information & upcoming events.Required fields are included by an asterisk(*)To test this idea experimentally, a team led by economist Gabriele Camera of Chapman University in Orange, California, brought 200 people into a room full of computers and asked them to play two different games, both based on the goal of earning points called “units.” Everyone started out with eight of these units, and players were divided into groups of two, four, eight, or 32 people for a series of rounds. In each round, the computer made random pairs within the group. Players knew how many people were in their group, but they didn’t know which of those people was their current partner.In the first game, one of the players in the pair had the option of spending 6 units to help the other get 12 units. That’s an expensive choice, but if someone returned the favor in a future round, it would double the investment. Of course, if no one pitched in 6 units to help out later on, this player was out of luck. The computer stopped the game after a random number of rounds. At the end, everyone’s scores were tallied up and converted into real cash that the participants took home.As Camera and his colleagues expected, trust broke down as the group size increased. When just two people played the game, they could count on their gifts being returned when their roles were reversed. And indeed, the pairs of people helped each other out 71% of the time. But in larger groups, the chances of being paired with the same person plummeted—below 5% in the case of groups of 32. And that translated to a breakdown of trust. The frequency of cooperation in the 32-person groups fell to 28%.The second experiment was exactly like the first but included a virtual form of money called “tokens.” Each player started out with two of them. Players had the additional option to use a token to “buy” help from their partner, instead of just receiving assistance as a unilateral gift. Unlike units, tokens had no intrinsic value and could not be redeemed for anything at the end of the game. Using them was voluntary; the game could be played exactly as before without them.Nonetheless, the participants adopted this monetary system immediately instead of helping each other through gift-giving. In the two-person groups, using tokens eroded trust, and cooperation dropped by 19%. But with more players, tokens had the opposite effect. In the largest groups, people cooperated nearly twice as often when using the symbolic monetary system, and everyone reaped larger rewards, the team reports online today in the Proceedings of the National Academy of Sciences.Camera theorizes that money makes cooperation possible when people cannot rely on reputation or kinship. He speculates that money drives cultures toward money-based economies by helping to support larger populations.The study is convincing evidence that money promotes cooperation among Camera’s research subjects, says Paul Rubin, an economist at Emory University in Atlanta. But he points out that they “were undergraduates, meaning they have lived in a money economy all their lives.” The cooperation-boosting power of money may not hold for people with no exposure to modern monetary systems, he says.Camera agrees that this is a limitation of the study. “We have given some thought to the possibility of running the same experiment with subject pools that are ‘nonstandard,’ ” he says, such as isolated Amazonian tribes. Despite some “nontrivial logistical issues”—such as importing a version of this computer-based game into the jungle—Camera hopes to test the cooperation-inducing effect in groups who live more like our hunter-gatherer ancestors.last_img read more