West Midlands Pension Fund has reappointed CBRE Global Investors to manage its £622m (€776m) UK property portfolio and will give the manager more discretion.The existing advisory mandate, which has been in place for seven years, will effectively be replaced at the end of September by a new discretionary one.CBRE Global Investors had to re-tender for the new mandate, which will last for another seven years with an option to extend it by a further three.The outgoing mandate was originally awarded to ING Real Estate Investment Management before the company was merged with CBRE’s investment management business to create CBRE Global Investors. The directly-held UK real estate portfolio of the £10bn West Midlands Pension Fund includes a number of core assets, such as the 270,000sqft Arc Shopping Centre in Bury St Edmunds and the 54,000sqft office at 35 Newhall Street in Birmingham and as of March last year its real estate holdings were worth £838m. Michael Daggett, fund manager at CBRE Global Investors described the three-month re-tendering process as “rigorous” and said the manager would seek to build on “the portfolio’s solid foundations”.
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George Floyd, whose fatal encounter with Minneapolis police stirred a global outcry over racial bias by US law enforcement, tested positive for the coronavirus, his autopsy showed, but the infection was not listed as a factor in his death.The official cause of death, according to the full 20-page report made public on Wednesday by the Hennepin County Medical Examiner’s Office, was cardiopulmonary arrest while Floyd was being restrained by police taking him into custody on May 25.The coroner ruled the manner of death to be a homicide. Four police officers since fired from their jobs for their role in the incident, which was captured on a bystander’s cellphone video, are being held on criminal charges, one of them accused of murder. The video showed that officer using his knee to press Floyd’s neck into the street for nearly nine minutes while the 46-year-old victim gasped for air and repeatedly groaned, “please, I can’t breathe.” Floyd was pronounced dead at a hospital a short time later.The video immediately went viral on the internet, igniting nine days of nationwide protest and civil strife. Demonstrators have also taken to the streets overseas, from Germany to New Zealand.The autopsy, in listing cardiopulmonary arrest as the cause of Floyd’s death, also cited “complicating law enforcement subdual, restraint and neck compression.”The report listed several additional factors as “significant conditions” contributing to Floyd’s death, including heart disease, high blood pressure and intoxication from the powerful opioid fentanyl, as well as recent methamphetamine use. The report further noted that a nasal swab sample collected from Floyd’s body came back positive for COVID-19, and that Floyd had also tested positive on April 3, nearly eight weeks before his death.The county’s chief medical examiner, Dr. Andrew Baker, concluded that the post mortem test result “most likely reflects asymptomatic but persistent … positivity from previous infection.” There was no indication in the autopsy report that coronavirus played any role in Floyd’s death.Dr. Michael Baden, one of two medical examiners who conducted a private autopsy for Floyd’s family, told the New York Times that county officials never told him, or the funeral director, that Floyd had tested positive for COVID-19. Topics :
Publicly listed state-owned metal miner PT Aneka Tambang (Antam) has seen its net profit sink 80 percent year-on-year (yoy) to Rp 84.8 billion (US$5.82 million) in the first half of the year, dragged down by poor nickel and ferronickel sales but anchored by gold sales, according to its half-year financial report. Antam’s revenue fell 36 percent to Rp 9.2 trillion, while its costs fell by nearly the same percentage at 35.6 percent to Rp 7.9 trillion over the same period.“Antam’s reported financial performance has been in decline throughout the PSBB, especially its net profit. […] Antam has been more reliant on its gold bar volumes,” analyst Nafan Aji of Binaartha Parama Sekuritas told The Jakarta Post on Tuesday. He was referring to the large-scale social restrictions policy that was introduced in four months ago in response to the COVID-19 health crisis.Read also: Gold price surge blessing in disguise for IndonesiaTechnically a partial lockdown, several regions across the country implemented the PSBB in early April in an effort to curb the spread of the coronavirus. The restrictions included self-quarantine, work from home and study at home policies, as well as enforced the temporary closure of offices, retail outlets and factories. In early June, despite record numbers of COVID-19 cases per day, the government started easing the PSBB to gradually reopen the economy to cushion the economic impacts of the epidemic. On Tuesday, official data showed 1,922 new cases of the disease, bringing the cumulative total to 115,056 cases with more than 5,300 COVID-19 deaths. The country surpassed 100,000 cases on July 27 amid the government’s transition to the “new normal” phase of its disease management policy in reopening the economy.The drop in Antam’s first-half revenue was led by poor sales of nickel ore, which plunged 94 percent yoy to Rp 89.3 billion following the government’s landmark ban on nickel ore exports in January. Nickel ore had fallen in the first half from being the miner’s third best-selling product in 2019 to become its fifth best-selling product because of the ban.Antam said in a statement that it hoped to recoup its nickel ore sales margin in the domestic market, referring to the government’s plans to expand Indonesia’s downstream nickel industry and to regulate the domestic selling price of nickel ore.Read also: Gold prices hit $2,000 an ounce for first time“[The regulation] will create a competitive pricing structure for domestic minerals amid a positive outlook on domestic absorption, especially for nickel ore commodities,” said Antam corporate secretary Kunto Hendrapawoko.In contrast, gold played a bigger role in Antam’s half-year sales revenue, its contribution increasing from 68 percent in 2019 to 69.4 percent this year.Antam also reported that its half-year gold sales volume fell 50 percent yoy to 7,915 kilograms, but that gold sales revenue fell softer by 33 percent yoy to Rp 6.4 trillion, propped up by higher prices as consumers hoarded the precious metal as a safe haven asset amid a volatile market.Gold prices hit $2,000 an ounce on Tuesday for the first time since the coronavirus outbreak weakened the economy and clouded the global financial outlook, reported AFP. Gold bullion prices had increased more than 30 percent this year.“In 2020, Antam has been focusing on developing domestic customers in line with the public’s growing awareness of gold investment,” added Kunto.Kunto previously told the Post on July 3 that the miner had allocated Rp 80 billion in capital expenditure this year to expand its dwindling bauxite, nickel and gold reserves, with a particular focus on the precious metal as the bestseller.Meanwhile, first-half sale revenue of ferronickel fell 12.5 percent yoy to Rp 2 trillion, but the metal remains Antam’s second best-selling product, contributing 21.9 percent of total sales revenue.Antam is continuing development on two metal smelters as part of its long-term plan. The smelters will enable the company to produce and export higher-value refined metals in line with the government’s vision to transform Indonesia into an industrial economy.Read also: Metal miner Antam allocates $5.5m for exploration amid dwindling gold reservesOne of the smelters under development is a ferronickel smelter in East Halmahera, North Maluku, which was 98 percent complete as of June. The $289 million smelter will enable Antam to absorb more of its nickel ore and export higher-value ferronickel.The other is an aluminum smelter in Mempawah, West Kalimantan. The $841 million smelter is being developed in cooperation with state-owned PT Indonesia Asahan Aluminium (Inalum), which specializes in aluminum smelting. Antam did not release the smelter’s completion rate.Antam shares, traded on the Indonesia Stock Exchange (IDX) using the code ANTM, soared 2.84 percent on Wednesday at 10:10 a.m. Jakarta time, even as the Jakarta Composite Index (JCI), the main gauge of the IDX, slipped 0.2 percent.Antam shares have lost 14.29 percent of their value this year, compared to the JCI’s losses of 19.62 percent.Topics :
Topics : Although tournament organizers didn’t name the players, Argentina’s Guido Pella and qualifying hopeful Hugo Dellien of Bolivia both posted videos on Instagram saying they were the players concerned.Pella, ranked 35th in the world said he was sidelined after his personal trainer, Juan Manuel Galvan, tested positive for the virus.”Juan Manuel Galvan tested positive two days ago (Monday),” Pella said, adding that his coach, Jose Acasuso, had also been in close contact with Galvan.”Our two tests, Jose’s and mine, came back negative, we don’t feel anything. But the organizers took me out of the tournament … Now protocol dictates that I be tested every two days. There’s no other option and hopefully these two weeks will go by quickly and I can be present at the US Open.” Two players within the US Open bubble have been dropped from the ATP and WTA Western and Southern Open and sent into quarantine after contact with a COVID-19 positive individual.Tournament officials announced the move Wednesday, a day after learning that a non-player within the controlled environment had tested positive for the deadly virus.The person who tested positive is in isolation for 10 days but contract tracing showed two players had been in “close and prolonged contact” with the individual. Tournament officials said neither of the players who have been excluded has experienced any COVID-19 symptoms. But after input from the US Open medical team and in consultation with the New York City Department of Health, they were removed from the Western and Southern Open and sent into quarantine.The tournament, usually in Cincinnati, was moved to New York this year to serve as a tuneup for the US Open, which starts August 31 without spectators in a bubble setup at the National Tennis Center in Flushing Meadows.Women’s main draw play in the Western and Southern Open is set to begin Friday with men’s matches to start Saturday.The COVID-19 outbreak that had shut down the ATP and WTA season caused a temporary hospital to be established on the tennis center grounds in April as New York battled a spike in cases.