By Dialogo March 28, 2011 On 24 March, anti-drug agents arrested five alleged Brazilian drug traffickers suspected of forming the criminal group known as the ‘First Capital Commando’ (PCC), which operates in São Paulo, a police report indicated. The five are Guilherme de Matos Palmeira Couto, 23 years old, Milton Dalis Mendes Couto (55), Jorge Carneiro (25), Olvier Giovanni da Silva (27), and Paulo Augusto de Sousa (28). The operation took place in the city of Pedro Juan Caballero, on the land border with the town of Ponta Porá, Brazil, 550 km to the northeast, according to the report. The anti-drug police also seized vehicles, weapons (including an AR-15 machine gun), bullets, and several packets of marijuana from them. The PCC supplies the city of São Paulo with cocaine and marijuana and is controlled from the prisons of São Paulo state, according to the Brazilian police.
Hitachi UK Pension Scheme has agreed a £275m (€300m) buy-in transaction, a deal that covers the deferred members and retirees that were not insured with its first buy-in transaction in 2018.The new transaction was with Legal & General, with the trustees again advised by Aon. The 2018 deal, for which the size is understood not to have been disclosed, was with Scottish Widows.“This transaction completes the Hitachi UK Pension Scheme’s phased buy-in journey in just under three years – substantially ahead of the original target of 10 years,” said Michael Walker, principal consultant at Aon.He said the acceleration had been possible due to strong asset performance, favourable insurance pricing, good preparation and “nimble” decision-making by both the trustee and the companies. Jo Myerson, chair of the trustee from professional trustee firm Ross Trustees, suggested “effective decision-making achieved as a sole corporate trustee” played an important role in the deal.The transaction price was locked to the assets of the scheme, which Legal & General said gave the trustee a high degree of transaction certainty while enabling it to harness favourable pricing conditions and market capacity.“We are pleased to have established this relationship with the Hitachi trustees and helped them secure their members’ long-term financial security,” said Gavin Smith, pricing and execution director, UK pension risk transfer at Legal & General Retirement Institutional.“This buy-in, in particular, demonstrates our ability to insure pension schemes with a high proportion of deferred members, showing that pensions de-risking isn’t just the preserve of mature pension schemes.”The trustee obtained legal advice from Pinsent Masons while Macfarlanes provided legal advice to Legal & General. A spokesperson for the insurer said the £275m deal was completed in the second half of this year.To read the digital edition of IPE’s latest magazine click here.
Johannesburg: A few hours after Cricket South Africa (CSA) Director of Cricket Graeme Smith backed Board of Control for Cricket in India (BCCI) President Sourav Ganguly for taking over as Chairman of the International Cricket Council (ICC), CSA President Chris Nenzani said that the board will take a decision of which candidate to back “in terms of its own protocol.” “We must respect both the ICC protocol and our own protocol in deciding which candidate to back. There have been no candidates nominated as yet and once such nominations have been made the board of CSA will take its decision in terms of its own protocol and give the chairman the mandate to exercise his vote as an ICC Board Director accordingly,” Nenzani said in an official statement. “We have the highest regard for the opinions of our Director of Cricket, Graeme Smith, who is a well-respected figure in world cricket and has already made an immense contribution in fulfilling his mandate to make our cricket team world leaders again. At the moment we don’t want to anticipate any candidates who may be nominated for this important position to lead the game we all love,” he added. Smith had earlier said that it would be “great to see a cricket man like” Ganguly helming the ICC. “I think that will be good for the game; I think it will be good for the modern game as well. He understands it, he has played it at the highest level, he is respected, and his leadership will be key to us going forward,” the former South Africa skipper said. CSA Chief Executive Jacques Faul also hinted at backing Smith’s endorsement. “I think India must play a leadership role when it comes to the Future Tours Programme and a responsible one,” he said. “Our engagement with Sourav has been very positive in his willingness to help us. We have also checked this with the leadership of CSA. We would support an Indian candidate at this stage. But we have also got to maybe look at the integrity of the whole process. “I don’t think there are any nominations out there of any candidates that I know of, so they are still in the process, but from a CSA point of view, we have no problem supporting any Indian candidate. But to be fair, we’ve got to look at who has been nominated and bring it back to our board and get a mandate for it.” IANS Also watch: Tough times for Beauty Care & Wellness industry of Assam