New man to lead the Bundesbank

first_img whatsapp More From Our Partners Man on bail for murder arrested after pet tiger escapes Houston homethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Wednesday 16 February 2011 8:38 pm whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com KCS-content Sharecenter_img New man to lead the Bundesbank IN a mark of continuity, Jens Weidmann, Angela Merkel’s chief economic adviser and a protege of his predecessor Axel Weber, will be the next Bundesbank president.At just 42, Weidmann will be its youngest-ever head when he takes the helm on 1 May, but he backs the same tough stance on inflation as German chancellor Merkel and Weber.He is also known as politically-savvy and able to provide a more diplomatic tone than Weber, who has been criticised for opposing key European Central Bank policies such as its bond buying programme.Merkel said Weidmann would maintain Germany’s policy to keeping the euro stable by fighting inflation, pursued under Weber.“Everyone acquainted with Jens Weidmann knows he is highly competent on the issues, has a brilliant intellect and an independent mind,” Merkel said. She added: “We are all convinced that he will be an outstanding president of the Bundesbank and will represent Germany and use his voice in the European Central Bank to promote a stability culture.” Weidmann has spent the past five years advising Merkel through the credit crunch, recession and Eurozone sovereign debt crisis. department.He has also worked at the International Monetary Fund and in the Bundesbank’s monetary policy team. Show Comments ▼ Tags: NULLlast_img read more

Budget Special

first_img whatsapp KCS-content Show Comments ▼ Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Share THE CBIThe UK’s top business lobbying organisation. It aims to influence government policy on a wide range of business matters.DIRECTOR GENERALJOHN CRIDLAND“The chancellor has made clear the UK is open for business. The extra 1p cut in corporation tax will help firms increase investment. Meanwhile, significant changes to entrepreneurs’ taxation will rightly focus much-needed support on businesses with growth potential.”OIL & GAS UKIndustry body that represents the interests of the offshore oil and gas industry in the UK by working closely with companies across the entire sector, governments and other stakeholders to address crucial issues such as taxation.CHIEF EXECUTIVEMALCOLM WEBB“The industry is shocked to now be hit by a tax increase that raises the tax rate to at least 62 per cent, with some of the most mature and therefore vulnerable fields now paying up to 81 per cent. Today’s move in the Budget runs counter to the government’s stated desire to promote growth, jobs and exports – all of which this industry was delivering and will now find much more difficult to sustain. Importantly it will also most likely increase this country’s dependence on imported oil and gas and thus diminish its energy security.At a time when we could see investment recovering following the last period of fiscal instability, this further shock will only damage investor confidence and make many question whether the UK is an appropriate destination for their investment.”THE BRITISH BANKERS’ ASSOCIATIONThe BBA is the leading trade association for the UK banking and financial services sector and speaks for over 200 member banksDIRECTOR GENERALANGELA KNIGHT“Banks recognise the importance of their role in securing economic recovery and they understand the need to strike a balance between raising taxes, funding growth and maintaining the UK as a global centre for banking and financial services.While corporation tax is paid on profits, the bank levy represents an additional fixed cost for larger banks operating in the UK. It also controversially can include the business that banks are doing outside the UK. Without satisfactory double taxation arrangements in place, this is putting banks operating in the UK at a long term disadvantage – both internationally, as they compete against banks not paying such a levy, and domestically, as they compete with other sectors of the financial services industry. This change is not as straightforward as it first appears. Banks like other businesses want a predictable tax regime so they can plan their business accordingly.”THECITYUKTheCityUK’s purpose is to promote the competitiveness of financial services – to make the UK the best place in the world to establish a financial services businessCHIEF EXECUTIVECHRIS CUMMINGS“The government has taken important steps in the Budget to create the right environment to demonstrate that Britain is indeed ‘open for business’ and capable of competing on a global stage. The chancellor’s commitment to ensure the UK’s place as a leading financial services centre will provide the catalyst for Britain’s private sector growth, attracting large companies and institutions into the UK, as well as providing the necessary conditions to encourage the success of SMEs and facilitate export-led growth.”THE TUCThe UK’s national trade union body, representing the vast majority of organised workersGENERAL SECRETARYBRENDAN BARBER“Today’s measures do nothing to end the basic error of imposing deep, rapid and unfair spending cuts on an economy where unemployment is rising and growth faltering. While there are some welcome measures on funding for apprenticeships and much needed relief on fuel duty, most of it is about taking us back to the 1980s with deregulation gimmicks, hand-outs to big business and a deterioration of working conditions that failed to deliver jobs or growth then and won’t today. Overall, there was little in the way of help for hard pressed ordinary people fearful for their jobs and reeling from inflation driven by the VAT increase. For the young unemployed the best the chancellor had to offer was cut-price unpaid work experience.”THE ENTREPRENEURSara Murray is a British entrepreneur and businesswoman who founded the price comparison website confused.com and developed buddi, a miniaturised tracking device for vulnerable peopleFOUNDER OF CONFUSED.COMSARA MURRAY“The changes are a move in the right direction but will not make a noticeable difference. The reduction in corporation tax means that some companies can make a bit more money, but it is too small to change a company’s decision on whether it is based in the UK or not. The government needs to do something significant for high-growth businesses. Data shows that particularly in a recession, it is this 10,000 subset ot companies where high growth comes from.The R&D tax credit change is good but the government should promote that and the Enterprise Investment Scheme so people know about them and understand their value. Currently most companies don’t apply as they don’t know what they are and see them as complicated and assume they are unlikely to be eligible.There are two things I wish the government had done – open up public procurement to smaller firms so that they are able to get in on the bigger contracts. And make it easier to hire the first few employees. Currently, smaller firms tend to rely on freelance staff to avoid the excessive paperwork involved in hiring full-time staff.THE DIRECTORS’ VIEWInstitute of Directors (IoD) provides support and information for business leaders as well as political analysisDIRECTOR GENERALMILES TEMPLEMAN“The IoD welcomes the acceleration in the reduction in Corporation Tax to 26 per cent. The IoD also welcomes the very clear statement that the 50 per cent rate of income tax is a temporary measure. The 50 per cent rate will damage long term economic prospects and needs to be repealed as soon as possible. We welcome the raft of supply side measures announced in the Budget. The combination of reduced corporation tax and planning liberalisation will help to lift business confidence at a difficult time. However, the scale of deregulation in areas that really matter to business in general, such as employment law, is still very limited. And while the 21 new enterprise zones have real potential, we question why the whole of the UK can’t be an enterprise zone. This was a Budget aimed at changing perceptions and boosting business confidence about long-term economic prospects in the UK.”The aaThe UK’s largest motoring organisation which provides services to get you safely from A to BAA PRESIDENTEDMUND KING“We applaud the chancellor’s decision to listen to the AA campaign to cut fuel duty rather than hike it by 5p a litre. A £2.50-a-tank hike would have been the last straw for poorer drivers who spend a quarter of their household income on motoring. However, with jittery stock markets and tensions in North Africa pushing the oil price back into the $115-$120-a-barrel price range, pressure on pump prices and inflation could grow again. The increased approved mileage rates from 40p to 45p are long over-due and very helpful. Companies have been insulated against higher fuel costs while employees, charity workers and midwives using their own cars for work have borne the burden and in effect taken a pay-cut.” whatsapp Wednesday 23 March 2011 9:31 pm Budget Special last_img read more

Osorio seeks to fill £15bn funding gap before auction

first_img Osorio seeks to fill £15bn funding gap before auction by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap whatsapp LLOYDS needs to find funding to fill a £15bn-£20bn black hole in the accounts of the 600 branches it is trying to sell off in the coming months, according to a source familiar with the situation.New chief executive Antonio Horta-Osorio wants to move quickly to offload the branches, which the bank is required to sell due to an EU competition ruling.But the sale will mean weaning them off the government’s Special Liquidity Scheme, which the overall Lloyds group still relies on for up to £51.6bn of its funding (as of December 2010).The funding for the branches is likely to come in the form of a loan supplied in part by investment banks advising Lloyds on the deal, and in part from potential buyers or private equity backers. Lloyds has not yet chosen an adviser, but Credit Suisse, Rothschild, Citigroup, UBS and JP Morgan are all thought to be vying for the deal.The ability to line up funding will make a crucial difference to the attractiveness of the branches when Lloyds sends out a prospectus for the sale.Potential bidders include Lord Leven’s investment vehicle NBNK, Virgin Money, National Australia Bank and private equity firm JC Flowers.Lloyds declined to comment. Sharecenter_img Monday 28 March 2011 12:38 am KCS-content Show Comments ▼ whatsapp Tags: NULLlast_img read more

Wal-Mart opposes sex-bias case at class-action suit filed in the US

first_imgTuesday 29 March 2011 8:43 pm Show Comments ▼ whatsapp whatsapp SEVERAL US Supreme Court justices questioned yesterday whether female employees at Wal-Mart can proceed with the largest class-action sex-discrimination lawsuit in history that seeks billions of dollars.At issue in the case was whether a small group of women who began the lawsuit 10 years ago against the world’s largest retailer can represent a huge nationwide class that could total millions of women.After attorneys for Wal-Mart and for the employees presented arguments, a crowd of protesters that had gathered outside the Supreme Court shouted “fair pay now” and carried signs such as “Stop discounting the women of Wal-Mart”.Chris Kwapnoski, a 24-year Wal-Mart employee and one of the named plaintiffs in the case, confidently told reporters after the arguments, “We’re not going to lose.”She recalled being told by a manager to “brush the cobwebs off” and “doll up” if she wanted advancement.After listening to the attorneys, the top court took the case under advisement, with a ruling expected by late June. The decision could change the legal landscape for workplace and other class-action lawsuits. KCS-content center_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Wal-Mart opposes sex-bias case at class-action suit filed in the US More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Sharelast_img read more

THE GOOD, THE BAD AND THE UGLY AS CITY FIRMS RUN… AND RUN

first_img Tags: NULL HOGAN Lovells partner Richard Tyler will be walking down the stairs sideways for the next three days after completing yesterday’s physically and mentally exhausting 26.2 mile Virgin Money London Marathon.“Towards the end of the race you end up running not much faster than you can walk because your legs wind down like a spring,” said Tyler, appropriately an energy specialist at the law firm. “The first half was fun but the second was increasingly ugly.”Tyler finished the race in just over four hours to raise about £3,000 – once he has “rattled a few cages” at Lovells – to be split equally between the Geoff Thomas Foundation and Action Against Hunger, which is funding a feeding station for malnourished children in Liberia.Meanwhile, Vassos Georgiadis, managing director of Melton Legal Search, joined the crowds to encourage his fellow Jane Bubear Sport Foundation trustees Martin Winter, senior partner at Taylor Wessing (3hrs 59 mins) and Brian Phillips, chief investment officer of GCP Capital Partners (4hrs 57 mins).Not to be outdone, a group of 14 lawyers from Simmons & Simmons have been training for months to raise their target of £1,700 each for Scope, including partners Tim Pearce and Jonathan Melrose; Jonathan Hammond, the new head of financial markets; and associates George Hankey and Arthur Markham.After finishing the race in four hours and 35 minutes, Markham took a cycle rickshaw straight to the The Punchbowl in Piccadilly Circus for some rehydrating ciders – “the best thing I have drunk all day” – while Taylor Wessing’s Winter celebrate his fifty-seventh birthday with his first beers in four weeks.“I shall try hard not to fall asleep,” said Wessing, who is tomorrow flying out to the Greek island of Stetse for a holiday with Georgiadis, where the pair plan to take part in their traditional 16.5 mile race around the “brutally hilly” island – just for fun.“When he beats me I always allege he uses a scooter, but he always denies it,” said Wessing.PAYING TRIBUTEAS the marathon was underway, tributes were being paid to Towers Watson consultant Gareth Crockett, 27, who was killed in a road accident last week during a sponsored run and bike ride that would have culminated in the London race.Gareth was part of a team undertaking the epic challenge of cycling more than 450 miles and completing four marathons in eight days, travelling from Belfast to London. The group had planned the challenge to raise money for Leukaemia & Lymphoma Research in memory of close friend John Erwin who passed away from the disease last year. Donations in memory of both Gareth and John can continue to be made at justgiving.com/beldonchallenge. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was Famous, Now She Works In {State}MoneyPailNews SharperGrab A Tissue Before You See Richard Simmons At 72News SharperThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesTaco RelishOnly People With An IQ Of 130 Can Name These ItemsTaco RelishDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryForbes.comLove Cars? Here Are The 51 Hottest Collectible CarsForbes.com More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org KCS-content whatsappcenter_img whatsapp Show Comments ▼ THE GOOD, THE BAD AND THE UGLY AS CITY FIRMS RUN… AND RUN Sunday 17 April 2011 10:03 pmlast_img read more

Gross mortgage lending springs back in March

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads Wednesday 20 April 2011 8:09 pm whatsapp Tags: NULL More From Our Partners Colin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Sharecenter_img KCS-content whatsapp Show Comments ▼ Gross mortgage lending springs back in March MORTGAGE lending bounced back in March from the previous month but is still two per cent lower than a year ago, data from the Council of Mortgage Lenders (CML) showed yesterday.Evidence of a seasonal recovery for the UK’s housing sector is emerging, as gross mortgage lending rose 21 per cent from £9.3bn in February to £11.3bn last month. Yet analysts say the outlook remains sluggish, with lending down £200m compared to March 2010 and sales still hampered by a squeeze on funding for first-time buyers.“Let’s not be fooled into thinking the market is blossoming,” said Peter Rollings, chief executive of estate agent Marsh and Parsons.“In London there’s no shortage of demand from would-be buyers, but unless more assistance from lenders comes their way, the first rung on the property ladder will remain far from reach for thousands,” he added.Remortgage approvals in February were the highest for more than two years, with the CML citing expectations of imminent interest rate hikes. Yet inflation expectations dropped sharply to 2.9 per cent in April from 3.5 per cent in March, a Citigroup and YouGov survey showed yesterday. last_img read more

Sports betting bill has support in US capital

first_img Sports betting bill has support in US capital 19th September 2018 | By contenteditor Legal & compliance Regions: US Washington DC Washington, DC council member Jack Evans has urged lawmakers in the US capital to press ahead with introducing regulated sports betting as soon as possible – or miss out on the financial benefits.Evans proposed a bill yesterday (Tuesday) that would allow sports wagering in the District of Columbia while pledging to generate much-needed funds for public childcare, arts and humanities programmes.“We can be first and get a lot of money or 51st and not get any,” Evans said before yesterday’s council meeting.He later added: “Today, we take the first steps towards capturing this exciting new stream of revenue, instead of watching District resident dollars fill the coffers of other jurisdictions.“The District of Columbia will be the leader in a fast-growing industry. The city should take advantage of our ability to act before the Maryland or Virginia legislatures to create a thriving sports betting market, which will attract consumers to the District and generate revenue for District residents.”The nearest location for sports betting is currently Hollywood Casino in West Virginia, about 65 miles from Washington, DC.Crucially, though, Evans’ bill appears to have sufficient support from other council members, as well as Mayor Muriel Bowser, who is helping to draft the legislation along with council chairman Phil Mendelson.Mendelson told the Washington Post he had agreed to help the bill pass, because he believes it is in the best interests of the city, even though he dislikes gambling.Bowser’s chief of staff, John Falcicchio, added to the newspaper: “The Mayor supports council member Evans’ efforts to make sports betting a viable revenue source for our growing needs.“Sports betting can help us fund critical programmes, create jobs for District residents and allow visitors and commuters to further participate in our economy.”Under Evans’ proposals, a 10% tax on operators’ gross gaming revenues would be applied, in addition to a $50,000 fee for a five-year licence.Half of the money raised would be put towards early-childhood care initiatives under the newly-introduced Birth-to-Three for All DC Act, with the remainder dedicated to the DC Commission on the Arts and Humanities.Under Evans’ bill, athletes, coaches and referees would be prohibited from placing bets, while a maximum wager limit would be set.The District’s chief financial officer, who already oversees the DC Lottery, would act as the regulator.Ted Leonsis, the owner of the Washington Wizards NBA basketball franchise and the Washington Capitals NHL ice hockey team, has already said that regulated sports betting would open up a “new frontier” for professional sports outfits. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Author wants capital to act before neighbouring states Email Address Subscribe to the iGaming newsletter Topics: Legal & compliance Sports bettinglast_img read more

GC names new chair for responsible gambling advisory body

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Slot Machines GC names new chair for responsible gambling advisory body 20th November 2018 | By contenteditor Social care expert Dr Anna van der Gaag will replace Sir Christopher Kelly The UK Gambling Commission has appointed one of the country’s leading social care experts as the new chair of its Responsible Gambling Strategy Board (RGSB). Dr Anna van der Gaag will join the RGSB as a member immediately but not take on her new role until current chair, Sir Christopher Kelly, finishes his term in March 2019. The RGSB operates as the expert advisory arm of the UK regulator, specialising in the research, education and treatment required to combat and reduce gambling-related harms. A visiting Professor of Ethics and Regulation at the University of Surrey, Van der Gaag has held a number of high-profile roles across the health, social care and legal sectors. She spent time as chair of the Health and Care Professions Council and is also a non-executive director at Health Education England and the Kent Surrey and Sussex Academic Health Science Network. Van der Gaag is also a founding member of the Q Community, a quality improvement network led by the Health Foundation. Van der Gaag was named a Commander of the Most Excellent Order of the British Empire (CBE) in recognition for her services to health and care in 2015.Commenting on her new role, van der Gaag noted that gambling-related harms were becoming increasingly recognised as a public health issue that required “robust collective action”.“I am thrilled by this opportunity to join a team with such a passionate commitment to understanding and reducing harms and raising awareness of the personal and societal costs that can arise from gambling activities.” Bill Moyes, chair of the Gambling Commission, added: “It is with pleasure that we announce Dr Anna van der Gaag as the new chair of RGSB. She brings with her a wealth of experience in health, social care and the prevention of harm that will be an asset in advising on how to implement the next National Strategy, which will launch in April 2019 and on which we will shortly be consulting.”In April 2016, the RGSB published its three-year National Responsible Gambling Strategy, with the aim of clamping down on gambling-related harm. The strategy, due to run until next year, set the agenda for various organisations such as gambling operators, regulators, government, trade bodies, commissioning organisations, treatment providers and other public agencies. Topics: Casino & games People Sports betting Strategy Bingo Slots Bingo Regions: UK & Ireland Subscribe to the iGaming newsletter Email Addresslast_img read more

Rank Group reports marginal digital growth in Q3

first_img The Rank Group has reported marginal revenue growth across its digital business in the third quarter of its financial year, though group revenue remained flat due to a lack of growth across its land-based operations.Digital revenue at the Mecca Bingo and Grosvenor Casino operator increased by 2% on a year-on-year, like-for-like basis, during the three months to March 31. Rank only provided figures on the percentage changes in revenue for the period. Grosvenor digital gross gaming revenue climbed 6% in the quarter while net gaming revenue was also up by 15%, following what Rank described as “targeted action to manage bonus expenditure more efficiently”. Meanwhile, the Mecca digital business saw net gaming revenue increase by 10% in the quarter, with gross gaming revenue unchanged from the prior year figure.However, the operator’s land-based operations remained flat in Q3. The Grosvenor venues segment improved marginally following declines in both the first and second quarters, but failed to post any year-on-year growth for the period.Revenue from Mecca venues was down 1%, reflecting a similar performance in Q2, but an improvement on a 6% revenue drop in Q1. International venues revenue was flat for the third quarter.Rank noted that the results are posted on a like-for-like basis and do not include of club openings, closures, relocations and the contribution from YoBingo, which it acquired in May 2018.The operator also said as its transformation programme delivered the expected cost savings in the quarter and remains on track, management forecasts for the full year remain unchanged.Meanwhile, Rank has confirmed that Ian Burke is to step down as its chairman. Burke will not stand for re-election at the Annual General Meeting in October and the operator will now commence a search for a successor.Burke joined Rank as CEO in 2006, going on to become executive chairman in 2011 and then non-executive chairman in 2014.“I have enjoyed my time at Rank immensely and am extremely proud of what we have achieved as a company,” Burke said. “I have decided to step down as chairman in the knowledge that Rank has a strong management team and board which will take the business forward through its transformation programme.”CEO John O’Reilly added: “Ian has played a key role at Rank for many years. I would like to thank him personally for his invaluable support and counsel since I joined the company last year.”Burke’s impending departure comes after Rank last month also confirmed that Alan Morgan will leave his role as managing director retail on July 31 this year in order to pursue other opportunities.Morgan joined Rank in September 2016 as managing director of the Mecca Bingo business, before taking on responsibility for the entire retail estate in November 2017. Bingo Tags: Online Gambling Rank Group reports marginal digital growth in Q3 1st May 2019 | By contenteditor Subscribe to the iGaming newslettercenter_img The Rank Group has reported further revenue growth across its digital business during the third quarter, but overall revenue for the operator remained flat due to a lack of growth in its land-based operations. The company will also begin a search for a new chair, after Ian Burke announced he will not stand for re-election at the company’s Annual General Meeting in October. Topics: Casino & games Finance Bingo AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

Esports Entertainment to close Argyll acquisition by 31 July

first_imgCasino & games Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Esports betting operator Esports Entertainment Group has announced that it will close its purchase of online betting and gaming operator Argyll Entertainment on or before 31 July, after finalising a definitive agreement for the acquisition. Esports Entertainment to close Argyll acquisition by 31 July Esports betting operator Esports Entertainment Group has announced that it will close its purchase of online betting and gaming operator Argyll Entertainment on or before 31 July, after finalising a definitive agreement for the acquisition.This follows an announcement in May that the operator had signed a binding letter of intent to acquire Argyll’s parent company LHE Enterprises. The terms of the deal have not been disclosed.Esports Entertainment chief executive Grant Johnson described the definitive agreement as a “major milestone” for the business.Integration of the two businesses has already begun, with Argyll chief executive Stuart Tilly and finance chief Dan Marks joining Esports Entertainment’s leadership team. Tilly has been named corporate secretary and Marks the operator’s chief financial officer.“They are a great addition to our organization and will help us build on Argyll’s base of more than 100,000 registered users, placing us in a great position to grow revenue moving forward,” Johnson said.Tilly added that the deal would give Esports Entertainment access to exclusive, proprietary content, including its flagship SportNation.bet site and its rewards programme, which he noted helped drive revenue of $12m in 2019.“The esports industry is the strongest it’s ever been,” he continued.“[The] strengthened financial position of our combined operations together with the ability to leverage the expertise and deep domain knowledge of its 30 strong staff in marketing, technology, risk management, and regulation will put Esports Entertainment Group in a great position to capitalize on the wealth of opportunities ahead in this rapidly growing market.”It comes after Esports Entertainment listed on the US Nasdaq stock exchange in April this year, which has been followed by a series of fundraising efforts that has secured $6.2m through the exercising of warrants as of 8 June.The business also raised $8.4m through its uplisting to the Nasdaq.The business is now looking to expand into the US market, having established a subsidiary, GMBL New Jersey, in May. It now plans to apply for a sports betting licence in the state in the near future.center_img Subscribe to the iGaming newsletter Topics: Casino & games Esports Sports betting Strategy Video gaming Tags: Mobile Online Gambling Video Gaming 7th July 2020 | By contenteditorlast_img read more