All-new XC90 will be the First Volvo Built on the Company’s new Scalable Product Architecture

GOTHENBURG, Sweden, Aug. 12, 2014 /PRNewswire/ — Volvo’s all-new XC90 — which will be launched in two weeks’ time in Stockholm — will be the first car in its range to be built on the Scalable Product Architecture (SPA) modular chassis technology developed in-house.

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XC90 Front view: Volvo XC90 Front view - Front view of the all-new XC90, including the distinctive new T-shaped running lights.

XC90 Front view: Volvo XC90 Front view – Front view of the all-new XC90, including the distinctive new T-shaped running lights.


SPA has been under in-house development at Volvo for the past four years and is the cornerstone of the company’s ongoing USD 11bn transformation plan. It will be introduced with the all-new XC90 and then rolled out across the product range in future.

The benefits of SPA are twofold.

First, the flexibility of SPA liberates Volvo’s engineers and designers, allowing them to devise and introduce a wide range of new and alluring design features at the same time as improving driveability, introducing world-first safety features, offering the latest connected car technologies and creating more interior space.

“SPA and the XC90 are firm evidence of our Volvo-by-Volvo strategy. The XC90’s outstanding combination of luxury, space, versatility, efficiency and safety will bring the SUV segment into a new dimension, just as the original XC90 did in 2002,” says Dr Peter Mertens, Senior Vice President, Research and Development of Volvo Car Group.

Secondly, SPA will change the way Volvo builds cars in future by allowing a wide range of cars, powertrains, electrical systems and technologies — all of differing complexity — to be fitted on the same architecture, generating significant economies of scale.

The new SPA chassis technology reduces weight and improves weight distribution, improving driving pleasure without compromising on ride comfort.

“SPA gives us a fresh technological start. Around 90 per cent of the components in the all-new XC90 and upcoming models are new and unique. We are raising the bar to the very top of the premium league when it comes to quality and technology level in every vital area,” says Dr Mertens.

With SPA, previous design limitations in areas such as wheelbase, overhang, vehicle height and the height of the front are removed.

“This has created greater freedom for us to design cars with a confident stance, dynamic proportions and a number of distinctive design signatures. Our three recent concept cars have demonstrated this capability. Even though the all-new XC90 is an entirely different type of car, you will recognise the connection instantly when it is revealed in two weeks,” says Thomas Ingenlath, Senior Vice President Design of Volvo Car Group.

The new face of Volvo: ‘Thor’s Hammer’ running lights 

Today, for the first time, Volvo is revealing images of the front end or ‘face’ of the new XC90 SUV, which is distinguished by its T-shaped running lights, christened ‘Thor’s Hammer’ by the design team after the shape of the hammer used by the famous Norse god of thunder Thor.

“Anyone who looks in their rear-view mirror is going to know immediately that there is a new XC90 behind them,” says Mr Ingenlath. “The XC90 is a car that has presence on the road.”

Note to Editors:

A picture accompanying this release is available through the PA Photowire. It can be downloaded from or viewed at or

Stefan Elfstrom
Media Relations Manager
Corporate Communications
Volvo Car Corporation
Dept. 50250/PVH50
Telephone +46-31-3251878

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Addition of Three New EB-5 Regional Centers Grows Immigrant Investor Program for Encore Global

DALLAS, Aug.12, 2014 /PRNewswire/ — Encore Global Investment Management, LLC, a division of Dallas-based Encore Enterprises, Inc., has received approval for three new Regional Centers in its EB-5 network, including Pennsylvania, Washington/Oregon, and California. This is in addition to the existing regional centers of AlabamaFlorida, Colorado, Louisiana, Mississippi, Nashville, Raleigh-Durham, Southern California, New York/New Jersey, Washington D.C., Texas, and Boston.

“We have reached many milestones this year including being approved for our three new Regional Centers and receiving the first ever EB-5 permanent Green Card in Texas,” said Shae Armstrong, Legal Counsel of Encore Global. “The future for Encore Global is extremely bright; we have many attractive real estate development projects in the pipeline and our network of Regional Centers gives us the ability to provide vital capital to these projects.”

To qualify for the EB-5 Immigrant Visa Category, accredited foreign persons must either directly or indirectly, create ten full-time jobs in the United States through an investment of at least $500,000 by way of a USCIS-approved Regional Center. In return, the investor may be able to obtain an EB-5 Visa, which grants permanent residency status to the investor, respective spouses, and unmarried children under 21 years of age.

About Encore Global Investment Management, LLC
Encore Global Investment Management, LLC was created to provide an EB-5 investment vehicle for accredited foreign nationals seeking permanent residency status in the United States. The company focuses on developing and/or funding commercial real estate projects related to retail, hospitality, multi-family, and office facilities. For more information about Encore Global, please visit or call +1-214-259-7000.

About Encore Enterprises, Inc.
Encore Enterprises, Inc. is a national real estate company with corporate headquarters in Dallas, Texas. Encore develops, acquires, and manages hotels, multi-family communities, retail shopping centers, commercial offices, and public-private mixed use developments. For more information about Encore Enterprises, please visit or call +1-214-259-7000.

Disclaimer: Not every investment is safe, not every investment in a Regional Center will ultimately result in green card status, and not every investment will produce a profit.

To read the full release, please click here.

Contact: Amy Upton
Encore Enterprises, Inc.

Northern Trust Celebrates 125 Years as a Leading Global Provider of Financial Services

Bank Recognizes Clients and Employees, Reflects on History and Future

CHICAGO, Aug. 12, 2014 /PRNewswire/ — Northern Trust today marks 125 years since it first opened its doors for business in 1889. The Chicago-based global bank, established by Byron Laflin Smith, has more than 20 international locations, US$6 trillion in assets under custody and US$924 billion in assets under management.

Founded the same year the Eiffel Tower was completed and the Dakotas, Montana and Washington became states, Northern Trust has weathered the Great Depression, two world wars and the 2008 financial crisis. The bank not only survived, but thrived during these times of significant market and economic stress. Northern Trust achieved strong growth during the Great Depression, with assets growing more than fivefold, and was one of only two of the 20 largest U.S. banks to not cut its dividend payout to shareholders during the Great Recession. Since the financial crisis of 2008, Northern Trust’s client assets under custody have doubled and assets under management have grown 65 percent.

“Our 125th anniversary is a celebration of our heritage and continued strength as well as recognition of our clients and employees, without whom this milestone would not have been achieved,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “Our commitment to our enduring principles of Service, Expertise and Integrity is at the heart of everything we do, namely serving our clients and the communities in which we operate.”

Northern Trust begins a year-long celebration to commemorate its anniversary and recognize employees and clients who contributed to the company’s successful history. Among activities today:

  • Waddell and his leadership team across the globe will greet staff members as they enter offices and thank them for their contributions.
  • Northern Trust will host an employee reception at its Chicago headquarters where it will unveil a new anniversary-themed logo and redesigned lobby, and staff house band, “The Exceptions,” will perform a song written by an employee commemorating 125 years of success.

“As we expand and take on new challenges and opportunities, our continued reliance on our dedicated employees and core principles will allow us to remain committed to the spirit of the institution Byron Smith founded in 1889,” said Waddell.

Northern Trust has launched an official anniversary website ( that includes a richly illustrated e-book on the bank’s 125-year heritage, an interactive timeline and 125 milestones from its history. It will also be sharing photos and videos from celebrations at offices across the globe on Twitter using the hashtag #NT125.

About Northern Trust
Northern Trust Corporation (NASDAQ: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 19 states, Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2014, Northern Trust had assets under custody of US$6 trillion, and assets under investment management of US$924.4 billion. For 125 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit or follow us on Twitter @NorthernTrust.

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CONTACT: Doug Holt, (312) 557-1571,

ACCA Congratulates More Than 8,000 New Affiliates

More students on the path to become ACCA members

HONG KONG, Aug. 12, 2014 /PRNewswire/ — Record numbers of students have successfully completed their final ACCA (the Association of Chartered Certified Accountants) exams in the June 2014 sitting, when 190,000 candidates took over 330,000 papers around the world.

Many students are also tackling exams online, with an additional 53,000 students sitting computer based exams.

The June 2014 session saw 8,325 students satisfy the exam component of their professional qualification, enabling them to take the next step to ACCA membership. Students also need to complete practical experience and ethics requirements to become ACCA members.

Overall pass rates rose to 43% for the ACCA Skills and Professional exams, largely due to improved performances in the Skills exams, while pass rates in the Professional Level remained steady.

At 52%, the results for Paper P1, Governance, Risk and Ethics, were pleasing. This exam assesses students using a range of case studies based on real world business scenarios. It requires students to demonstrate their competency in understanding and managing risks, as well as resolving ethical dilemmas.

As a result of completing their Fundamentals level, 8,744 students are now eligible for ACCA’s Advanced Diploma in Accounting and Business on completion of their Professional Ethics module, one of the requirements for ACCA membership. The Advanced Diploma celebrates students’ achievement of the Fundamentals level before they move on to the Professional level and awards a professional certification equivalent in level to a bachelor honours degree.

The results for the Knowledge level of the ACCA exams (F1 to F3) and the equivalent exams in the Foundation Level have improved this session. This is very pleasing, given that the structure of the exams has now changed so that students must now complete multi-task questions which require students to tackle longer questions around one or more scenarios, thereby demonstrating their understanding of the issues.

In addition to new, free specimen exams, the launch of this new style exam was supported by practice tests which students can purchase. These tests are intended as final mock exam practice and in addition to providing a near identical exam experience, they provide user friendly feedback, enabling them to see their strengths and weaknesses and supporting them to target properly their final pre-exam revision.

Alan Hatfield, ACCA director – learning, said: “We would like to congratulate all students who have passed their examinations this session, particularly the record number of students who have passed their final level exams and are well on their way to becoming ACCA members.  The exams within the Professional level represent a major challenge for students, being set at an equivalent level to a Masters degree.  

“The pass rates across our Options papers continue to be a particular challenge and performance in Paper P5, Advanced Performance Management remains disappointing. As always, we see a greater number of students passing who have attended ACCA approved courses of study and have used our approved study materials, which are reviewed by our examining team. The poorer pass rate in Paper P5 is in part explained by our analysis which shows that fewer students accessed tuition for this paper than any other ACCA exam.  As part of our ongoing activities to raise pass rates we are exploring new and innovative ways to provide students with additional learning support, focusing particularly on the Options papers,” he added.

“We are delighted that 76% of employers agree that the ACCA Qualification helps them to grow business by providing accountants with the skills and capabilities they need. We continually respond to employer feedback and this year is an exciting year for changes to some of our exams as we act on further feedback. Employers have stated they wish to see greater breadth of syllabus covered in the Skills exams, ensuring thorough understanding of the F5 to F9 subject areas. New exam structures will reflect this from December, by introducing some multiple choice elements (20-40%) without losing the written, analytical skills it is necessary for students to develop. Additionally, to add greater flexibility, the F4 exams will also have a new format similar to the current F1 to F3, with the English and Global versions being available on demand through computer based examination from November,” said Alan Hatfield

June 2014 session ACCA Qualification pass rates:

Fundamental Knowledge exams
Paper F1, Accountant in Business, 80%
Paper F2, Management Accounting, 60%
Paper F3, Financial Accounting, 63%

Fundamental Skills exams
Paper F4, Corporate and Business Law, 45%
Paper F5, Performance Management, 39%
Paper F6, Taxation, 53%

Paper F7, Financial Reporting, 47%
Paper F8, Audit and Assurance, 40%
Paper F9, Financial Management, 40%

Professional Level Essentials exams
Paper P1, Governance, Risk and Ethics, 52%
Paper P2, Corporate Reporting, 47%
Paper P3, Business Analysis, 46%

Professional Level Options exams
Paper P4, Advanced Financial Management, 35%
Paper P5, Advanced Performance Management, 29%
Paper P6, Advanced Taxation, 39%
Paper P7, Advanced Audit and Assurance, 36%

June 2014 session Foundation Level pass rates:

Introductory Certificate in Financial and Management Accounting
FA1, Recording Financial Transactions, 74%
MA1, Management Information, 76%

Intermediate Certificate in Financial and Management Accounting
FA2, Maintaining Financial Records, 66%
MA2, Managing Costs and Finance, 58%

Diploma in Accounting and Business
FAB, Accountant in Business, 66%
FMA, Management Accounting, 55%
FFA, Financial Accounting, 54%

Foundation Specialist papers
FAU, Foundations in Audit, 51%
FTX, Foundations in Taxation, 79%
FFM, Foundations in Financial Management, 58%

Notes to Editors

  1. ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
  2. We support our 170,000 members and 436,000 students in 180 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of 91 offices and centres and more than 8,500 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence.  
  3. As the first global accountancy body entering into China, ACCA now has over 23,000 members and 48,000 students, with 8 offices in Beijing, Shanghai, Chengdu, Guangzhou, Shenzhen, Shenyang, Hong Kong SAR, and Macau SAR.
  4. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accounting professionals bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. Our values are aligned to the needs of employers in all sectors and we ensure that through our qualifications, we prepare accountants for business. We seek to open up the profession to people of all backgrounds and remove artificial barriers, innovating our qualifications and delivery to meet the diverse needs of trainee professionals and their employers.
  5. For more information, please visit: |

CHS Announces Senior Leadership Team Changes

ST. PAUL, Minnesota, Aug. 12, 2014 /PRNewswire/ — CHS Inc. (NASDAQ: CHSCP)  the nation’s leading cooperative and a global energy, grains and foods company  today announced that Mark Palmquist, executive vice president and chief operating officer, Ag Business, will leave the organization effective Aug. 31, 2014, to assume the top leadership role with an Australian grain company. Current CHS strategic leadership team member Shirley Cunningham will assume a new role as executive vice president and chief operating officer, Ag Business and Enterprise Strategy.

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Palmquist will become managing director and chief executive officer of GrainCorp, Sydney, Australia, on Oct. 1, 2014.

“We congratulate Mark on this new opportunity and thank him for his significant contributions to CHS and its predecessor organizations,” said CHS President and Chief Executive Officer Carl Casale. “During his 35-year career with our organization, he was instrumental in launching and building the CHS global platform and identifying numerous growth opportunities in our grains and foods businesses that add value for the owners of this cooperative.”

Cunningham, who joined CHS in 2013 as executive vice president, Enterprise Strategy, will continue to lead the company’s Enterprise Strategy functions as well as the newly aligned Ag Business platform which includes International, North America and Agronomy. “Shirley brings significant global strategic and enterprise experience to her expanded role,” said Casale. “Aligning our Ag Business and Enterprise Strategy platforms under Shirley’s leadership will position us well for continued growth on behalf of our owners.”

Newly named leaders for CHS Ag Business platform include:

  • Stefano Rettore, senior vice president, International, responsible for CHS South America, CHS Asia-Pacific and CHS Europe.
  • Gary Anderson, senior vice president, North America Grain Marketing and Processing and Food Ingredients, responsible for North America Grain Marketing, Terminals and Transportation, Business Development, Processing and Food Ingredients, and Ethanol manufacturing.
  • Rick Dusek, vice president, Agronomy, leading Crop Nutrients Supply and Trading, North America Crop Nutrients and Agronomy, which will include additional product and technology offerings.

Cunningham retains responsibility for CHS Information Technology, Human Resources, Enterprise Strategy and Marketing and Communications functions. She assumes her new role on Sept. 1, 2014.

CHS Inc. ( is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations. CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, animal feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.

This document contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations and assumptions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company undertakes no obligations to publicly revise any forward-looking statements to reflect future events or circumstances. For a discussion of additional factors that may materially affect management’s estimates and predictions, please view the CHS Inc. annual report filed on Form 10-K for the year ended Aug. 31, 2013, which can be found on the Securities and Exchange Commission web site ( or on the CHS web site

Agworld Secures AU $6 Million Series C Financing, Expands into North America

PERTH, Australia, Aug. 12, 2014 /PRNewswire/ — Agworld, Australia’s leading information management and cloud collaboration software for the agricultural industry, today announced it raised an AU $6 million Series C round of financing led by Reed Elsevier Ventures with participation from existing Agworld investor, Yuuwa Capital. The funding, which brings the company’s total equity raised to AU $12 million, will be used to support its expansion into the North American agricultural market while continuing to enhance the core Agworld product offering across the value chain for the Australian market.

“Agworld’s tremendous success in Australia reflects the rapidly changing future of farm production,” said Tony Askew, General Partner of Reed Elsevier Ventures. “We are very excited to help Agworld expand into the US market so that farmers and agronomists around the world can harness the value of their farming data with Agworld’s leading mobile and cloud technology.”

Agworld provides a centralised software platform for each participant involved in the crop production process, allowing for real-time collaboration and management of critical information, activities and recommendations throughout the crop production cycle. Agworld’s extensive features include decision-making tools such as comprehensive crop production plans, geospatial data interrogation, agronomist recommendations, and financial and crop performance reporting. “It’s all about farmers and their service providers understanding the core risks and opportunities for their business in the context of that specific location and farm entity,” said Doug Fitch, CEO of Agworld.

“As the venture capital arm of one of the largest global data and information solutions companies, Reed Elsevier Ventures is an ideal investment partner for Agworld, bringing with them extensive knowledge of the big data industry and fast moving SaaS business models,” said Doug. “This infusion of capital allows us to remain at the forefront of the agricultural information management and big data markets, while we continue to change the way growers, advisors and suppliers capture unique insights to improve farm operations.”

For more information, visit

About Agworld

Founded in 2008 in Perth, Western Australia, Agworld is Australia’s leading information management and cloud collaboration software for farmers and agronomists. Agworld is used by more than 12,000 farmers in 5 countries, tracking performance over 35 million acres of cropland. Our mission is to help the world’s farmers large and small, to grow in production and profitability while achieving economic and environmental sustainability.

About Reed Elsevier Group plc

Reed Elsevier Group plc is a world leading provider of professional information solutions. The group employs approximately 28,500 people of whom half are in North America. Reed Elsevier Group plc is owned equally by two parent companies, Reed Elsevier PLC and Reed Elsevier NV; the combined market capitalisation of the two parent companies is approximately GBP 18bn/EUR 22bn. Their shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL.


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