News story: Secretary of State announces new rates for determining profit in regulated defence contracts

first_imgFollowing the SSRO’s recommendation in January 2019, the Secretary of State for Defence has announced the baseline profit rate and other rates to be used from 1 April 2019 to determine the profit element of qualifying defence contracts and qualifying sub-contracts.The Defence Reform Act 2014 requires the MOD and contractors in qualifying defence contracts (QDCs) and qualifying sub-contracts (QSCs) to follow a six-step process to determine the profit rate to be applied in those contracts. Three of the six steps are determined with reference to rates set by the Secretary of State, informed by recommendations from the SSRO. The rates and associated steps are: the baseline profit rate (step 1); the SSRO funding adjustment (step 4); and the capital servicing rates used in the capital servicing adjustment (step 6). The rates announced by the Secretary of State for use from 1 April 2019 are shown below:Table 1: Recommended rates agreed by the Secretary of State for Defence Fixed Capital Servicing Rate (% on Fixed Capital employed) 4.38% 3.98% Working Capital Servicing Rate (% on positive Working Capital employed) 1.21% 1.18% SSRO Funding Adjustment -0.024% -0.042%center_img Element 2018 Rates 2019 Rates Baseline Profit Rate (BPR) (% on contract cost) 6.81% 7.63% Working Capital Servicing Rate (% on negative Working Capital employed) 0.53% 0.53% To provide transparency for stakeholders, the SSRO has published its recommendation for the 2019/20 baseline profit rate, capital servicing rates and SSRO funding adjustment together with details of the methodology applied and a range of supporting analysis which was provided to the Secretary of State to inform his determination.The SSRO has also updated its guidance on determining contract profit rates and on Allowable Costs in QDCs and QSCs, to incorporate both the new rates announced by the Secretary of State and other changes for 2019/20 that were published in January 2019 following a public consultation.last_img read more

Digital transactions to play major role in festive retail sales

first_imgRetail sales this December are expected to rise 4% year-on-year to £42.4bn – more than £1.5bn than last year. With Black Friday imminent (28 November), analysis by Deloitte also predicted that online sales would account for 13% of all sales and 50% of market growth.Click-and-collect is also expected to account for 45% of all online transactions – almost double the level of December 2013 – with £2.5bn worth of sales. Ian Geddes, head of retail at Deloitte, said digital would influence 40% of physical shop sales.“Growth in the influence of digital on physical retail has been driven by consumers’ desire to access information on products and services, compare prices and increasingly pay and transact via digital services,” he said.“As investment in in-store digital technologies increases, such as mobile payments to facilitate faster, more convenient transactions and beacon technology to track shoppers in-store and deliver personalised messages and promotions, so will the digital influence on the physical environment.”Geddes said increases in sales in click-and-collect would depend on retailers adapting to customers’ changing shopping behaviour, such as adapting their supply chain and warehousing.last_img read more

U-Hual: Indiana 17th in growth nationwide for ’17

first_imgBatesville, In. — Indiana was the No. 17 Growth State for 2017, according to U-Haul data analyzing the past year’s U.S. migration trends.Year-over-year arrivals of one-way U-Haul truck rentals increased by 3 percent while departures increased by 2 percent from Indiana’s 2016 numbers.Arriving trucks accounted for 50.1 percent of all one-way U-Haul traffic in Indiana, which was ranked No. 39 in growth for 2016 and No. 25 for 2015.Growth States are calculated by the net gain of one-way U-Haul truck rentals entering a state versus leaving a state during a calendar year. Migration trends data is compiled from more than 1.7 million one-way U-Haul truck rental transactions that occur annually.Texas was the No. 1 Growth State for the second year in a row. Florida, Arkansas, South Carolina and Tennessee rounded out the top five, and North Carolina ranked seventh, continuing a strong growth movement in the Southeast.View the entire 2017 U-Haul Growth States rankings, plus other migration trends reports including the top U.S. Growth Cities. While migration trends do not correlate directly to population or economic growth, U-Haul growth data is an effective gauge of how well states and cities are attracting and maintaining residents.last_img read more

Jaguars Franchise League 3-Day Tournament…..

first_imgWest Demerara slump to six-wicket defeat… Lower Corentyne whips Essequibo by an innings and 122 runsBy Rajiv BisnauthWEST Demerara’s batting collapsed for the second time in as many days as East Coast Demerara crushed them by six wickets, inside two days in the opening round of the Jaguars Franchise League Three-day competition yesterday at the Enterprise Busta Sports Club.The visitors, faced with a first innings deficit of 60 runs, were bundled out for 105 in their second innings, 25 minutes before the tea interval.Their nemesis once again proved to be the host spinners, who took seven second innings wickets between them, to cripple the innings. Gavin Moriah’s fiery pace was also instrumental in the commanding win.West Demerara’ embarrassment could have been far worst, but opener Tagenarine Chanderpaul, who got a third-ball ‘duck’ in the first innings, stepped up the second time around and delayed the inevitable, with a stubborn knock of 43.Set 46 to win, East Coast Demerara lost openers Rajendra Chandrika (12)and Gavin Boodwah (8),along with Bhaskar Yadram (0) and Chanderpaul Hemraj (12).However, Kamesh Yadram, seven not out, and Ramnarine Chatura,four not out took their team to the winning target without further trouble.Earlier,a West Demerara fightback with the ball had kept the host in check, and they were eventually bowled out just after an hour inside 16 overs into the day’s play.East Coast Demerara started the day very cautiously, with overnight batsmen Vivian Albert and Ramnarine Chatura trying to defy the opposition attack.But the inevitable finally happened as off-spinner Richie Looknauth (2-19) got the breakthrough by trapping Albert leg before wicket for two, and the remaining batsmen were dismissed cheaply by left-arm seamer Raymond Reifer, medium pacer Mahendra Dhanpaul, and pacer Romario Shephard.Reifer, who finished the innings with 5-24, had found consistent swing to claim the wickets of Paul Wintz (6) and Amir Khan (11), while Dhanpaul (2-19) and Shephard (1-31), accounted for the wickets of Chatura (12) and Steven Sankar (8).The host then drove home their advantage inside ten overs of the West Demerara second innings, with the early wickets of opener Ronaldo Reene and skipper Akshaya Persaud.The impressive Moriah (3-17), bowled Reene without scoring, while Albert (2-8), accounted for Persaud in similar fashion to leave the visitors in a deep hole on 23-2.The other opening batsman, Tagenarine Chanderpaul,along with Kemol Savory, defended resolutely and took the total to 52 at the lunch interval.However, their 34-run stand ended soon after the interval when Moriah castled both Savory and Chanderpaul for 9 and 43 respectively. All told, Chanderpaul stroked three fours and two sixes in an innings which lasted 85 deliveries.After those dismissals ,things went downhill rapidly. Few of the West Demerara batsmen ever looked comfortable and found runs hard to get as the session wore on – struggling in particular to score off leg-spinner Sankar (3-37), who removed Reifer (23), Shephard (3) and Yetesh Dhanpaul (4).Khan (2-33) and Albert claimed the final three wickets.East Coast Demerara will play Upper Corentyne ,while West Demerara will clash with East Bank Demerara in round two.Meanwhile, summarised scores in the other three first- round games are as follows:West Berbice closed on 166-5 in their second innings, an overall lead of 215, after they dismissed Upper Corentyne for 183 in their first innings.East Bank Demerara closed on 68-5, a second innings lead of 74, after they bowled out Georgetown for 186 in their first innings,while Lower Corentyne whipped Essequibo by an innings and 122 runs. Scores in the game, Essequibo 101 and 159, Lower Corentyne 382.last_img read more

Florida mother reported missing after failing to pick up son from school

first_imgMontalvo is described as a white woman with black hair. She was last seen wearing blue jeans and a gray shirt.If you have any information about Montalvo’s disappearance you are asked to contact the Osceola County Sheriff’s Office at 407-348-2222. The Osceola County sheriff’s office is currently searching for a mother who was only discovered to be missing after she failed to pick up her child from school.Officials say Nicole Montalvo was last seen Monday around 5:00 pm when she dropped her son off to his father’s and grandparent’s home on Hixon Avenue in St. Cloud.Montalvo was then reported missing Tuesday after she failed to pick up her son after school and school officials could not reach her.Police say Montalvo’s phone has been turned off and that those who know Montalvo say it’s uncharacteristic of her to just disappear.They also reported that Montalvo’s car was found abandoned on Big Sky Boulevard which is about 8-miles from where she was last seen.Due to the suspicious circumstances surrounding Montalvo’s disappearance authorities have begun collecting evidence from the grandparent’s home, that sits on a 5-acre lot and includes a pond.last_img read more

Starbucks barista fired for giving police officer cup labeled ‘PIG’

first_imgAn Oklahoma Starbucks barista is out of a job after giving a police officer a cup on Thanksgiving with the word “pig” on the label.The incident first gained attention after a Facebook post made Kiefer Chief Johnny O’Mara, who told reporters a customer pointed out the label on the cups to the officer.“What irks me is the absolute and total disrespect for a police officer who, instead of being home with family and enjoying a meal and a football game, is patrolling his little town,” O’Mara wrote in a Facebook post, where he shared a picture of a cup with the “PIG” label on it.In a statement issued Friday, Starbucks reps said the behavior was absolutely unacceptable, and they are deeply sorry.The company also says they’ll be hosting a Coffee with a Cop event to promote greater civility.Click here to learn more.last_img read more

US Coast Guard Rescues Boater Off Fort Pierce

first_imgThough found safe, 29 year-old Skiff is “beaten down and exhausted” from the overnight ordeal. A Martin County man who went fishing in a 14-foot aluminum boat Tuesday and failed to return was found alive after an all night multi-agency search.“We have a story that really could’ve ended in tragedy,” Martin County Sheriff William Snyder told reporters shortly before noon Wednesday at Sandspirit Park in Stuart where Justin Skiff had launched about 24 hours earlier to go fishing offshore.The US Coast Guard says a helicopter lifted the missing boater to safety on Wednesday.The Coast Guard helicopter located the man in his 14-foot skiff, which reportedly ran out of gas, about nine miles southeast of Fort Pierce, Florida.last_img

Porn Star Attorney Avenatti Arrested by IRS at Bar Hearing

first_imgThe former lawyer for adult film star Stormy Daniels is accused of scamming $840-thousand from a client. He was arrested outside the courtroom by agents for the IRS, who accuse Avenatti of cheating on his taxes and lying to investigators.Avenatti’s lawyer says he expects there will be a bail hearing this afternoon. Until then the high profile attorney sits behind bars. Surprisingly, embattled attorney Michael Avenatti still has a law license as he sits in jail this morning, again.Avenatti was trying to keep his license while attending a disciplinary hearing at the California Bar Association in Los Angeles yesterday. But during a break, the porn star lawyer was arrested and cuffed by the IRS in the hallway. last_img

City League Preview: Of the six schools left, four will battle for title

first_imgRobert Willie, RB and Jermaine Herring, OL/DL–Perry With the shutdown of Oliver and Langley this year, added to the previous closings of Schenley and Peabody, there are only six high schools left in the city. Of these six schools four, Allderdice, Brashear, Perry and USO, should be evenly balanced as threats for the City League title this year, with Allderdice being slight favorites, leaving Westinghouse and Carrick to bring up the rear.USO (U-Prep, Sci-Tech, Obama) coach Lewis Berry acknowledged that it’s not a guarantee that his Panthers will repeat this year. He lost many of the league’s best to graduation. “There are so many big shoes that we’re going to have to fill this year with our returning guys,” he said. “They’re going to have to step up and own that.”The league’s offensive MVP from last year, Jaylen Coleman has moved onto the University of Toledo. Their four-year starting quarterback, Dontae Forte, has also graduated.“Honestly, there are some guys that I think will be able to do that,” Berry added. “But, it’s going to be real tough.”Akil Young, who took part in some late season quarterbacking duties last year, will take over as the team’s starter.Myles Catlin who has been a factor since the team was Schenley, projects to be an asset for the Panthers on both sides of the ball.“We’re going to work in several sets on offense in which we hope Myles will be very effective,” Berry said. “He’s a great athlete and we know he’s going to give it his all to get better.”Berry recognized Jermaine Berry, a senior lineman, as this year’s vocal leader of the team.“He’s really stepped up and has emerged as a leader for us over the summer,” he said. “That was obviously Jaylen’s role in many ways last year but Jermaine is holding us down in that respect.”In contrast from a season in which USO turned a lot of heads because of their larger-than-life demeanor, Berry said that his team will display a more “quiet confidence.”“The dynamic is totally different this year,” Berry said. “Last year, the team was more confident. They really brought it in practice, so things came very easy to them in their performances. This group is more reserved. They ask a lot of questions, which is a good thing. We’re try to get them to trust what they see. With that, I believe we’ll get better and better each week.”U.S.O. [University Prep, Sci-Tech, and Obama] (6-1, 11-2) last seasonKey losses: Jaylen Coleman (Toledo); Dontae Forte (Mt. Union); Kevaughn Frenzley (Seton Hill); Shannon Binnion (California, PA); and Brendan Duckett (Edinboro, PA).Key returners: Myles Catlin, H-back/OLB, Sr; Akil Young, QB, Sr; Lamont Butler, OLB, Sr; Ryan Daniels, DE, Sr; D’Anama Cabiness, OL, Sr; Jermaine Brown, DL, Sr; Neondre Harbour, OL/DL, Jr; and Marcus Johnson, WR, Jr.Allderdice (4-3, 5-7) last seasonAllderdice head coach Jerry Haslett comes back this year, again, emphasizing that his team must have high expectations.Despite squeezing into the playoffs as a four seed last season, the Dragons held on to their hopes and competed with a powerful USO team in the city title game. They lost, 14-0.But with 20 returning seniors, Haslett likes their chances of returning to the big stage.“We like our talent at the skill positions this year,” he said. “We won’t ever deny our chances. We expect to do great things every time we step on the field.”They’ll have to do it without the Courier’s All-City Defensive MVP Jay Barlow, who’s moved on to a football scholarship to California, PA.Tyrique Jarrett was the only city participant in the prestigious Big 33 Pennsylvania vs. Ohio All-star game. He will begin his preparation for a division-I scholarship at Milford Academy, the prep school that produced former Pitt All-American and Philadelphia Eagles All-Pro, LeSean McCoy.“My coaching staff and I are confident in the amount of leadership that our seniors are going to provide,” Haslett said. “They’ve been in different situations and have been out there together for a long time. We’re battle tested and ready to go out there and win.”Patrick Ferguson, Allderdice’s four-year starter at tailback, weighed in at 260 pounds before camp. Contrary to his size, Haslett got good reports from a recent camp his senior runner attended.“Pat clocked in a 4.72 in the 40-yard dash at the Pitt camp,” he said. “He might look big and sloppy, but he’s not put together like that. This young man is a pure athlete.”Bishop Gethers, a fellow senior, will take over as the team’s full-time starting quarterback, after playing a platoon role with Mike Pfleger, who was a 3-year starter there previously.The team has 20 seniors, this season, total.Key losses: Jay Barlow, DL/LB (California, PA); Tyrique Jarrett, DL (Milford Academy {Pitt recruit}); and Mike Pfleger, QB.Key returners: Pat Ferguson, Sr., RB; Bishop Gethers, Sr., QB/OLB; Sean Monroe, Sr., LB; Alfred Diggs, Sr., DE; Gerrard Doswell-Hardrick, Sr., DB/RB/WR; Cornelius Ray, Sr., DB/WR; and B.J. Muldrow, Sr., WR.Perry (5-2, 6-5) last seasonBill Gallagher, Perry head coach thinks that the merger of their North Side rivals, Oliver and Perry, should be a smooth one.“Our school’s administration and myself really believe that sports is the great unifier. The great equalizer,” he said. “The comradery that these kids have so far is amazing. They’re all familiar with one another from playing against each other for so many years. But they’re getting along just great.”To their fortune, Perry will inherit Oliver’s best player in perennial All-City member, Shakeem Cox. Dre Williams, a senior defensive back, will also add into the mix this season for the Commodores.“Shakeem has proven himself over the years as being one of the City’s best,” coach added. “Dre and he will be great assets to this team.”They’ll also feature one of the city’s more formidable rushing tandems with seniors Curtis Edmonds and Robert Willie.“We had a great offseason as far as conditioning is concerned,” Gallagher said. “Our leadership is outstanding. I feel like this team is improved more and more with each and every snap.”The Commodores, despite losing the most players to graduation last season, finished with the league’s third-best conference record. But they made an early exit in the league’s semi-final to a red hot USO team, who hadn’t lost a city game since week two and would eventually win the title.“We’re excited about our chances to compete this year,” Gallagher said.This year, the team has 16 seniors at their disposal.Key losses: Darelle Carson, QB and Deacon Blackwell, RB.Key returners: Curtis Edmonds, Sr., RB; Robert Willie, Sr., RB; Ahmed Turner, Sr., QB; Lloyd Reid, Sr., OL/DL; Jermaine Herring, Sr., OL/DL; Darius Barnes, Sr., WR/DB; Davon Clark, Sr. WR; Shakeem Cox, Sr., WR; Mallory Claibourne, Jr., DB; and Dre Williams, Sr., CB.The Courier was unable to speak to coaches from Brashear which is expected to challenge Allderdice, USO and Perry for the title this year. With the merger of Langley students into the always tough Brashear Bulls they should be in the thick of things when the season ends and among the four finalist in the playoffs. Unless they pull of a major upset Carrick, and Westinghouse will battle each other to determine which will go winless, this season.Brashear—With 18 players graduating, the Bulls have many holes to fill if they hope to make a championship run. But receiver Jamal Smith, and linebackers Deshaun Roberts and Diondre Faulk are a few of the top returnees that could make a difference. Brashear also has 15 former Langley players.Carrick—With some key players returning, Carrick could make some noise. Senior Orlando Harvard was an All-City receiver last year, and sophomore Joe Kalsek led the team in rushing. On the lines, sophomore Josh Walker (5-11, 330) was an All-City pick last year as a freshman.Westinghouse—Five starters return for the Bulldogs, including sophomore quarterback Ronald Brown. Lineman Isaiah Moore is in his fourth season as a starter. Other top players include WR-DB Dominic Fuller, C-LB Darwin Parker and RB-DL Rico Christian.(Courier Managing Editor Ulish Carter contributed to this story.) (Follow our continuing coverage of the City League and add your comments to our website at www.newpittsburghcourier­online.com.) (Malik Vincent can be reached at [email protected]­burgh­courier.com or on Twitter @malikvincent.)last_img read more