Tuesday, 23 August 2016

Summer Vacations Can Lead to Divorce



Summer Vacations Can Lead to Divorce

Couple parting at fork in the road
The post-vacation hangover may be dangerous for your marriage.
Filings for divorce spike twice a year, in March and August, according to a new study. University of Washington sociology professor Julie Brines and doctoral candidate Brian Serafini found divorce filings seem to follow the annual schedule of family holidays: lowest in November and December, then peaking in March after the passage of winter holidays and Valentine's Day. Filings drop in April and don't spike again until August—after July, the most popular month for vacations.
"Family life is governed by a 'social clock' that mandates the observations of birthdays, holidays and other special transitions," Brines and Serafini write in the study, presented this weekend at the annual conference of the American Sociological Association. Their study provides "the first systematic, quantitative evidence of a pronounced and durable 'seasonal' pattern in the timing of filings for divorce."

The authors analyzed 14 years of divorce data from 37 counties in Washington State before, during, and after the Great Recession and found seasonal trends were consistent regardless of the state of the economy. Parents of dependent children were more likely to follow the seasonal trend, but couples without kids also saw divorce filings peak in March and August.
One explanation for the trend is that couples may be delaying divorces during "socially sensitive periods in the calendar," the authors write. But this explanation would suggest divorce filings should spike in January, immediately after Christmas and New Year's.

Instead, couples wait until March. Why? Brines and Serafini argue that vacations and holidays make people optimistic about the future and instill the belief that they can repair relationships. But after spending lots of time with spouses, or after the usual stresses and strains of holidays, people find themselves more unhappy than before their vacations began. They refer to this as the "broken promise" theory.

"These rituals and transitions can be stress-inducing, and thus may intensify dissatisfaction or discord past a breaking point in some couples," the authors write.
One grim data point bolsters the idea that vacations can raise, and then dash, people's hopes: Brines and Serafini note that the month-by-month trend in divorce filings is "remarkably similar" to the annual pattern sociologists have previously identified in the U.S. suicide rate. 

Culled from Bloomberg.com

Monday, 22 August 2016

Pfizer nears deal to acquire Medivation for close to $14 bln -sources


(Adds detail on the deal, background to the companies)
By Greg Roumeliotis
Aug 21 (Reuters) - Pfizer Inc is in advanced talks to acquire U.S. cancer drug company Medivation Inc for close to $14 billion, as it seeks to boost its oncology portfolio, people familiar with the matter said on Sunday.
Pfizer has agreed to pay a little more than $80 per share for Medivation, one of the people said, a substantial premium to the $52.50 offer for Medivation that France's Sanofi SA made in April, which eventually resulted in the company putting itself up for sale. Medivation shares ended trading in New York on Friday at $67.16.
Reuters reported earlier this week that Pfizer, Sanofi, Merck & Co Inc, Celgene Corp and Gilead Sciences Inc had submitted expressions of interest to acquire Medivation.
The strong acquisition interest in the San Francisco-based company illustrates how demand for new cancer treatments, which can possibly add years to patients' lives, could spell billions of dollars in revenue to the companies that own them.
Pfizer has so far prevailed in the auction for Medivation and could announce a deal as early as Monday, although the negotiations still could fall apart at the last minute, the people said. The deal is expected to be paid for by Pfizer in its entirety, or at least mostly, with cash, one of the people said.
The sources asked not to be identified because the negotiations are confidential. Pfizer and Medivation declined to comment. The Financial Times first reported on Pfizer nearing a deal for Medivation on Sunday.
Pfizer, whose oncology offerings include breast cancer drug Ibrance and several other promising immuno-oncology products, is now set to get access to Medivation's successful prostate cancer drug Xtandi, as well as Talazoparib, another breast cancer treatment under development by Medivation.
Medivation earlier this year rejected two acquisition offers from Sanofi, the latest for $58 per share in cash and $3 per share in the form of a contingent value right relating to the sales performance of Talazoparib.
However, Medivation agreed in July to share confidential information with potential buyers after Sanofi agreed to drop a campaign to oust Medivation's board of directors.
In its second-quarter earnings call earlier this month, Medivation reported continued double-digit year-over-year growth for Xtandi, affirming the company's expectations of more than 50 percent revenue growth for the year.
Medivation also cited positive late-stage data for Talazoparib, a drug the company believes will account for a significant part of its long-term value.
(Reporting by Greg Roumeliotis in New York; Editing by Sandra Maler and Bill Trott)

Culled from Reuters

Friday, 19 August 2016

Global Pension Assets Hit $54 Trillion-Obinna Chima


Global pension assets have grown significantly to $54trillion, the Chief Executive Officer of the World Pension Summit (WPS), Mr. Chris Battaglia disclosed on Thursday.
Battaglia, made the remark at a media conference in Lagos, ahead of the third World Pension Summit ‘Africa Special,’ expected to take place in Abuja between September 27th and 28th, 2016.
According to him, in a lot of developed countries, pension assets are now more than 100 per cent of Gross Domestic Product (GDP).
“Global retirement assets are growing in size and volume and a shift from defined benefits to defined contribution. In most developed countries, pension assets have also grown in relation to their economies. With great assets come greater responsibility. Assets of the 300 pension funds globally averaged nearly $14trillion,” he added.
Earlier, the Director General of the National Pension Commission (PenCom), Mrs. Chinelo Anohu-Amazu, explained that the Commission, in furtherance to its mission of promoting a pension industry that impacts on nation-building and national development organised the first and second edition of the World Pension Summit ‘Africa Special’ in 2014 and 2015 respectively.
She stated that the themes of the previous summit were selected based on the need to lay solid foundation for the establishment of an enduring pension system in Africa and chart ways for effectively channeling the pension funds to sustainable investments such as railway, power and real estate.
Furthermore, the PenCom boss said it was envisaged that the summit would serve as a catalyst to actively stimulate economic development across the continent.
“The third summit which has as its theme: “Pension Innovations: The Africa Perspective,” is aimed at driving into greater prominence, the revolutionary strength and achievements of African governments in the area of pension and social benefits. It is expected that this year’s summit would again, bring together professionals and highly experienced resources from across the world in the areas of investment, actuarial science, insurance coverage and other pension related fields in other to consolidate on the gains of the first two summits.
“The third edition of the WPS promises to harness Africa’s talents in pension and other support services such as investment, insurance, actuarial valuations amongst others. Indeed, the summit would provide a platform among regulators and operators, both in pension and the financial market to usher a new dawn of innovations in pension administration, particularly towards extending coverage, promoting quality service delivery and to channel pension funds safely towards investments that have visible and measure impact on the continent,” the PenCom boss added.
Culled from Thisday