Allianz Global Investors (AGI) is due to acquire fixed income specialist Rogge Global Partners (RGP) in a bid to grow its fixed income client offering.The transaction involves Old Mutual and RGP management selling the entire issued share capital to AGI, although the terms were not disclosed.The acquisition is designed to further strengthen AGI’s fixed income capabilities, the asset manager said in a statement.RGP gains “a strategic partner that will offer greater distribution potential for its strategies”, it added. AGI had €427bn in assets under management (AUM) as at the end of September, with €167bn in fixed income strategies, up from €109bn four years ago – a 53% increase. RGP has €34bn in AUM, all of which is in fixed income products.Andreas Utermann, global CIO and chief executive-elect at AGI, said the two businesses were “a natural fit – in terms of both product mix and culture”. AGI has made several investments to grow its fixed income business in recent years.Most recently, it appointed Mike Riddell to lead the development of the asset manager’s UK fixed income capability. It also created an Asian fixed income team and developed its emerging market debt team.The RGP team will become part of the global investment platform at AGI.Subject to regulatory approval, the deal is expected to close by the second quarter.
“It has been well-studied that increased television time decreases a child’s development of language and social skills. Mobile media use similarly replaces the amount of time spent engaging in direct human-human interaction.http://www.telegraph.co.uk/news/science/science-news/11382711/Using-iPads-to-pacify-children-may-harm-their-development-say-scientists.html The Telegraph 1 February 2015It might be tempting to hand over an iPad to a screaming child when all else has failed to calm them down.But child psychologists say it may be stunting youngsters’ emotional development, because they do not learn how to control their emotions. Dr Jenny Radesky, clinical instructor in Developmental-Behavioural Pediatrics at Boston University, said: “Mobile devices are everywhere and children are using them more frequently at young ages. The impact these mobile devices are having on the development and behaviour of children is still relatively unknown. Researchers at Boston University School of Medicine in the US found that children need to find ways of self-regulating their feelings rather than masking them with distracting programmes or games.
The Tipperary Sprint Handicap has been transferred to Dundalk on Wednesday.Horse Racing Ireland (HRI) has announced that the sprint handicap over 5 furlongs (for three years and upwards rated 45-65) has been cancelled from Tipperary after a track inspection.It’s now been rescheduled for Dundalk on Wednesday 12th April. Photo: © Tipperaryraces.ie Original entries will stand and declarations to run must be made by 10am Tuesday.
An American Airlines mechanic was arrested on Thursday and charged with sabotage, after he allegedly disabled a navigation system on a flight that had 150 people aboard and was about to take off from Miami International Airport earlier this summer.According to a criminal complaint affidavit filed in Miami federal court this week, Abdul-Majeed Marouf Ahmed Alani, who was a veteran employee of the airline, was upset about stalled union contract negotiations.The affidavit also states that none of the passengers or crew on the Nassau-bound flight were injured, because Alani’s tampering with the air data module triggered an error alert as the pilots were powering up the plane’s engines on July 17.As a result, flight 2834 was aborted and taken out of service for maintenance and inspection at American’s hangar at Miami International. That is when another mechanic discovered that a loosely connected tube in front of the nose gear and underneath the cockpit had been blocked with some type of hard foam material.The complaint states that Alani glued the foam inside the tube leading from outside the plane to its air data module, which is a system that reports aircraft speed and pitch, as well as other important flight data. If the plane had taken off, the pilots would have had to operate it manually due to lack of computer data.When he was arrested on Thursday, Alani told federal air marshals who are assigned to the FBI’s Joint Terrorism Task Force that “his intention was not to cause harm to the aircraft or its passengers.” Instead, he claimed that his motive was that he was “upset” about stalled contract negotiations between the mechanics’ union and American Airlines, and “the dispute had affected him financially.”The affidavit adds that he also told the air marshals he tampered with the air data module “in order to cause a delay or have the flight canceled in anticipation of obtaining overtime work.”Federal air marshals identified Alani in video footage that showed him approaching the plane, which had just arrived from Orlando. The footage also shows him accessing the aircraft’s compartment which houses the navigational system, and spending about seven minute tampering with it.Alani is now charged with “willfully damaging, destroying or disabling an aircraft.” His first appearance in Miami federal court is scheduled for Friday.