London Stock Exchange expresses interest in Russell takeover

first_imgThe London Stock Exchange Group (LSEG) has confirmed its interest in purchasing Russell Investments from current owner Northwestern Mutual.The US insurance company has owned Russell since 1999, including its index, consultancy and asset management businesses.LSEG, and its FTSE International brand, would be most interested in the purchasing of Russell’s index business, which may roughly equate to a third of its expected value.The essential merging of the FTSE and Russell indices would give the firm a strong foothold in the US index market, currently dominated by S&P in the large-cap area. However, around 98% of all small-cap investments are associated with the Russell 2000 index, a flagship offering.The confirmed interest from LSEG could be met by a rival bid from MSCI, the global index provider, and other potential private equity firms.MSCI, while a major name in the global index market, has little foothold in US offerings.Both index providers would not necessarily want to purchase the entire Russell business, which is mainly made up of investment management and consultancy.Russell currently provides asset management services, in particular multi-manager options, to both institutional and retail clients, with around $260bn (€190bn) under management.It also offers investment consultancy and fiduciary management services to pension funds.In a statement, LSEG said it was evaluating the merits of purchasing Russell Investments, and that it had entered discussions with the Northwestern Mutual Life Insurance Company.“Discussions remain ongoing, and there can be no certainty that any transaction will be forthcoming,” the group said.“If a transaction were to proceed, LSEG would intend to part-fund it through an equity raise.”Any potential bid could also see a partnership between one of several rival index organisations and private equity investors.This would result in Russell’s asset management and consultancy going to private equity, and the index to LSEG or MSCI.One source, with knowledge of the matter, suggested Warberg Pinkus and the Canadian Imperial Bank of Commerce as potential suitors to the asset business.last_img read more

IOA blames NADA for dope test lab suspension, massive fight breaks out

first_imgLast Updated: 23rd August, 2019 15:02 IST IOA Blames NADA For Dope Test Lab Suspension, Massive Fight Breaks Out The Indian Olympic Association on Friday lashed out at the National Anti-Doping Agency for the suspension of the country’s only WADA-accredited laboratory. WE RECOMMEND READ: Lost ‘Smack’: Rajasthan Police Follows Assam Police’s Wit Flaunting Latest Drug Haul; Netizens Debate ‘who’s Most Sarcastic?'”The National Sports Federations (NSFs) are not in a position to bear the extra cost. And why should we bear the extra cost for NADA’s mistakes?” he asked. The WADA said the suspension came after it’s Laboratory Expert Group (LabEG) initiated disciplinary proceedings with regards to the status of WADA-accredited laboratories across the globe.The IOA chief said a negligent NADA sat on the issue for a long time despite repeated reminders from WADA. WATCH US LIVE 1 year ago BCCI under NADA: Sports minister Kiren Rijiju welcomes move, terms it “major positive turn” 1 year ago Big news for Cricket fans, sport being pushed for 2028 LA Olympics after BCCI’s NADA decision “This issue has been going on internally for the last year. The WADA has been pointing drawbacks in the NDTL’s testing methods but the NADA has failed to manage its affairs,” Batra said. NADA Director General Navin Agarwal remained unavailable for comments despite repeated attempts to reach him by PTI. First Published: 23rd August, 2019 11:35 IST Press Trust Of India COMMENT The World Anti-Doping Agency (WADA) had suspended the accreditation of (NDTL) for six months in a blow to India’s anti-doping programme, the cost of which will rise significantly now. The lab, which got WADA accreditation in 2008, is no longer authorised to carry out testing of the samples as the suspension is effective August 20.The development is a setback for India with less than a year left for the Tokyo Olympics. The National Anti-Doping Agency (NADA) can still collect samples (blood and urine) but will have to get them tested by a WADA-accredited laboratory outside India.READ: Karan Johar Party: Filmmaker Reacts To Allegations Of Drug Abuse, Says, ‘apparently You Aren’t Allowed To Scratch Your Nose’ center_img The Indian Olympic Association on Friday lashed out at the National Anti-Doping Agency for the suspension of the country’s only WADA-accredited laboratory, saying NADA’s “mistakes” have jeopardised the anti-doping programme here.The World Anti-Doping Agency (WADA) suspended the National Dope Testing Laboratory in Delhi for six months “due to non-conformities with the International Standard for Laboratories (ISL)”. The NADA can appeal the suspension in the next 21 days. The NADA can still carry on with sample collection (blood and urine) but will have to get them tested by a WADA-accredited laboratory outside India. FOLLOW US 1 year ago CWG 2022 | Shooter Heena Sidhu and National Rifle Association back IOA’s call to boycott event over non-inclusion of shooting NDTL had got WADA accreditation back in 2008. “We will now have to pay in dollars instead of rupees. My only concern now is who will bear the extra cost?” Indian Olympic Association President Narinder Batra told the media. LIVE TV 1 year ago NADA to start testing players during Duleep games, BCCI wants only doctors as DCOs SUBSCRIBE TO US Written By 1 year ago BCCI finally comes under NADA, officially becomes National Sports Federationlast_img read more

Jarin takes full responsibility for NU Bulldogs’ failed UAAP campaign

first_imgView comments The loss brought the Bulldogs to a 3-9 record and eliminated them from the Final Four with two more games to spare in their schedule, and head coach Jamike Jarin took full responsibility for the failed campaign.“It’s been very disappointing this year, but again, I take full responsibility for it,” said Jarin. “We have a young team, so we just have to be patient with all the things that we need to do. Of course we could’ve done better.”FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back Chriss“I take all the blame.”Jarin’s time with the Bulldogs hasn’t been as fruitful as his previous tenures with San Beda and especially Ateneo where he became a multi-title coach with the Blue Eaglets. Allen Durham still determined to help Meralco win 1st PBA title “Hopefully we get over the hump, and the next time we’re going to talk, we’re talking about the Final Four and probably the Finals next year.” Sports Related Videospowered by AdSparcRead Next Japeth Aguilar embraces role, gets rewarded with Finals MVP plum Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles01:32UAAP Season 81: Racela says he’ll be ‘surprised’ if Ateneo loses a game in elims02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award MOST READ LATEST STORIES Gov’t to employ 6,000 displaced by Taal Don’t miss out on the latest news and information. Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Pringle makes PBA MVP race interesting, overtakes Fajardo in statistical points For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. Tim Cone, Ginebra set their sights on elusive All-Filipino crown Will you be the first P16 Billion Powerball jackpot winner from the Philippines? And it’s not as if NU entered Season 81 without a proper amount of hype after former high school stars John Lloyd Clemente and Dave Ilefonso and Gilas cadet Troy Rike joined the team.Although Jarin had a talented roster, he didn’t have players who have enough experience in the collegiate game with nine of the Bulldogs either a sophomore or a freshman.“As you can see, you’ve got a very good fortune in front of you, not only NU basketball but also Philippine basketball in particular,” said Jarin who also won an NCAA title with the Red Lions in 2016.“These are the things that you get up in the morning and be excited to work with them because every time you wake up, it’s a day that they mature.”The best that the Bulldogs can do this tournament is match their five-win tally from Season 80, but that didn’t stop Jarin from thinking ahead.ADVERTISEMENT Nadine Lustre’s phone stolen in Brazil National University’s heartbreaking 84-77 loss to De La Salle on Wednesday at Smart Araneta Coliseum effectively put an end to its campaign in the UAAP Season 81 men’s basketball tournament.ADVERTISEMENTlast_img read more