SEC plots derivatives overhaul

first_imgWednesday 2 February 2011 8:41 pm US regulator the Securities and Exchange Commission (SEC) plans to open up the $600 trillion (£371 trillion) swap trading market under a plan put forward yesterday to implement parts of the Dodd-Frank financial reforms. Institutional investors would get the chance to see the price of swaps trades, either on a traditional exchange or a new facility created under the reforms. The SEC’s rules would apply to a narrow slice of the market that includes products such as equity swaps and hedges against default on corporate bonds. SEC plots derivatives overhaul by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionBetterBe20 Stunning Female AthletesBetterBeBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Tags: NULL whatsapp KCS-content center_img whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ Sharelast_img read more

Good numbers alone aren’t enough

first_img Good numbers alone aren’t enough Tidjane Thiam has not had an easy run since being seen to have led investors up the garden path during Prudential’s disastrous failed bid for AIA. But the harried chief executive is expected to find some relief in the insurance giant’s full-year results this Wednesday.Operating profit is forecast to come in at £1.7bn versus £1.4bn last year, while consensus predictions for operating profit from European embedded value run at £3.37bn, an improvement on last year’s £3.2bn.But will the figures be enough to placate investors still smarting from having to fork out some £450m on a £22.6bn bid that went nowhere?In order to stay in his post for the long-run, Thiam will also have to show that he can deliver shareholder returns and income, rather than just profit. The firm hiked its dividend payment after the collapse of the bid, but investors remain wary. KCS-content Show Comments ▼ whatsapp Sunday 6 March 2011 10:53 pm whatsapp Share More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com Tags: NULLlast_img read more

Inmarsat dips as its revenue growth slows

first_img Show Comments ▼ whatsapp whatsapp 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap FTSE 100 satellite telecoms firm Inmarsat saw its shares tumble more than 13 per cent yesterday after warning of slower-than-expected growth in its core maritime business.The firm told City A.M. uptake of its terminals was “very strong” but that revenue growth will take a temporary hit as customers switch from high-margin voice-calls to text messages and emails.The dip meant revenue growth in the fourth-quarter fell to 8.4 per cent, compared to a full-year rise of 12.9 per cent. Chief executive and chairman Andrew Sukawaty says he expects data usage to rise exponentially and pick up the slack left by voice calls within two years.The company posted pre-tax profits of $333.5m (£205m) on 13 per cent higher revenue of $1.17bn.Analysts had hoped for growth of around four to six per cent in 2011 but the firm issued guidance for just two to four per cent.Inmarsat said it has already received additional revenue of $212m from a deal with US telecoms provider LightSquared to provide spectrum for a hybrid satellite and terrestrial network, of which it has only booked $17m. It will receive an extra $115m a year through the partnership.Inmarsat was a target of US hedge fund Harbinger, which snapped up a 28 per cent stake before selling it down last year to concentrate on its home market. Tags: NULL Inmarsat dips as its revenue growth slows KCS-content Share Monday 7 March 2011 8:59 pmlast_img read more

Burberry in deal to launch sales in Saudi

first_img Show Comments ▼ More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com KCS-content Share whatsapp LUXURY UK brand Burberry has agreed a joint venture with Saudi-based retailer Fawaz Abdulaziz Alhokair to market and sell its products. Alhokair will hold a 40 per cent stake in the new company, though the value of the deal was not disclosed yesterday. Shareholders reacted well to the news, with Burberry one of the best performers on the FTSE 100 yesterday. Shares in the group finished at 1,147p – 2.8 per cent up from the previous day’s close.The shares had suffered in recent weeks due to concern over the brand’s exposure to earthquake-hit Japan, falling six per cent in the week immediately following the disaster. But yesterday they were given a further boost due to a note from Exane BNP Paribas, which added the company to its “buy” list due to its potential as a takeover target, citing the LMVH purchase of Bulgari as a possible trend. According to the note: “Following the recent corporate activity within the space, and the increasing amount of cash in the industry, we would expect such rumours to continue to act as a downside support to the share price.”Fawaz Abdulaziz Alhokair was formed in 1989 with just two menswear stores, as a partnership between Fawaz, Salman, and Abdulmajeed Alhokair, and has brought brands such as Miss Selfridge, Nine West and Marks & Spencer to the Kingdom. Burberry yesterday also completed its purchase of leases on two landmark Regent Street buildings, as part of its push to open a series of “statement stores” to play on its role as an English heritage brand. center_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleUndo Burberry in deal to launch sales in Saudi whatsapp Monday 28 March 2011 8:37 pm Tags: NULLlast_img read more

UK Commercial Property Trust net asset value up

first_img whatsapp UK Commercial Property Trust net asset value up by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterMisterStoryWoman files for divorce after seeing this photoMisterStorymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comJournalPregnant Woman Takes a Nap – You Won’t Believe What She Discovered When She WokeJournalTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld Lifestyle UK COMMERCIAL Property Trust, the largest UK-focused trust of its kind, has announced that its net asset value (NAV) per share has risen to 77p, an increase of 4.6 per cent on the previous year, and 0.5 per cent from September 2010.In its full-year results to December 2010, the Trust also said that the value of its property portfolio had grown by 7.9 per cent – up from £710.5m to £898.8m on a like-for-like basis. Chairman Chris Hill said that the company’s cash position and unused debt facilities meant they would be able to continue to seek out potential targets. “Having performed well throughout 2010 and taken advantage of market conditions to make a number of high quality acquisitions, UKCPT is well-placed for the future,” he said. In June last year, the Trust merged with rival F&C, creating the sixth largest UK property firm, worth an estimated £1.6m.The company’s net rental income increased 23.4 per cent to £60.2m, from £48.8m in 2009, with office properties reporting the best performance, followed by retail. Share whatsapp Wednesday 30 March 2011 7:31 pmcenter_img KCS-content Show Comments ▼ More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Tags: NULLlast_img read more

JP Morgan profit hits $5.6bn

first_img whatsapp JP Morgan profit hits $5.6bn Show Comments ▼ Tags: NULL 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap John Dunne Wednesday 13 April 2011 8:18 am Share JP Morgan Chase has seen a rise in first-quarter profits, helped by an improved performance in its credit card business.The second-largest US bank announced profits of $5.6bn (£3.4bn) for the three months to the end of March, up from the $3.3bn it made a year ago.Its card services unit made a $1.3bn profit, compared with a loss of $303m in the first quarter of 2010. whatsapplast_img read more

Episode 10: cannons and a child’s anger

first_img whatsapp Episode 10: cannons and a child’s anger KCS-content Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndo THE case is empty. Nelson’s delicate Trafalgar coat has been removed for conservation. I remember it vividly, with its four orders of chivalry and with the entry hole of the fatal musket ball, fired by a sniper from high in the rigging of the French ship Redoubtable, just beneath the left epaulette of the vice admiral’s undress uniform.Noel drags me away. “Come on dad, there’s a games place.” That’s new. But then it has been more than 20 years.Emma’s begun an ante-natal yoga class and has next term’s lesson plans to prepare. I’ve taken a couple of days’ leave and am occupying Noel. Supposedly.Today I thought we’d do “educational”; something beyond how to hit a delicate pass with the outside of the foot. And armed with just an ancient mobile phone from the back of a drawer, I’m un-contactable by either Rupert Carmichael or Sandy. Only Emma has the number.In the interactive gallery Noel tires of loading cargo into the hold of a merchant ship and is soon aiming and firing a cannon. I stand at his shoulder, resisting the temptation to offer suggestions. Or commands. Well, Nelson’s gunners were disciplined but also trusted.“Good shot” I offer, as Noel finds his range. He is unmoved, steadfast and immediately aims and fires again. He finds his target once more. I’m impressed. Perhaps he’s found his métier.“That was the twins” he mutters.“What? The… oh. Noel…” I place a hand on his shoulder. Noel jerks it away and as he does so, a further round splashes harmlessly in the sea. He stands, turns and faces me, belligerently. “What?”“You can’t fire a cannon at the twins Noel.”“Don’t be stupid dad. They’re not even born yet.”“No but…Well, war is terrible.”“Then why are you always telling mummy about fighting battles at work.”“That’s different.” Fortunately Noel interrupts me, for I have nowhere else to retreat to. “Anyway, if I hate the twins can we recycle them?” he asks, pressing home his advantage and brilliantly trapping me in a pincer movement between militarism and environmentalism. I stagger backwards, as if slammed by the recoil of the cannon. I look down at my beautiful son. The gallery is buzzing. This strategic moment goes unseen.The mobile phone beeps. I reach into my pocket, punch-drunk. “How are my two favourite men? Missing you both. Hope you’re home soon. Exx”. City Dad will be continued on 10 May. See past City Dad columns at www.cityam.com. center_img Monday 18 April 2011 9:33 pm whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Show Comments ▼ Tags: NULLlast_img read more

High oil prices a concern for head of Saudi oil firm

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity 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 AdsMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Tags: NULL KCS-content whatsapp Show Comments ▼ Tuesday 26 April 2011 8:03 pmcenter_img Share OIL prices dipped yesterday after the head of Saudi Arabia’s state-owned oil company expressed concern that the high price level could damage the global economy.Khalid al-Falih, chief executive of Aramco, said Saudi Arabia was not comfortable with the level of the oil price, echoing comments from Saudi oil minister Ali al-Naimi last week.“We are not comfortable with oil prices where they are today…I am concerned about the impact it could have on the global economy,” Falih told a conference in South Korea.Brent crude futures have risen to $124 per barrel from $95 three months ago as Middle East unrest added to growing energy demand from emerging markets. But Saudi Arabia has cut oil output, citing market oversupply due to the pressure of high prices on recovering economies. whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof High oil prices a concern for head of Saudi oil firm last_img read more

Sky commits to cutting betting ads

first_imgBingo Regions: UK & Ireland Sky commits to cutting betting ads New limit to be introduced in August before subscribers are able to block all gambling ads Topics: Casino & games Marketing & affiliates Sports betting Bingo Poker Subscribe to the iGaming newsletter Tags: Card Rooms and Poker Mobile Online Gambling Email Address UK pay-TV broadcaster Sky has pledged to limit the number of gambling adverts across its channels to a maximum of one per commercial break and will allow subscribers to block all betting and gaming advertising from their packages from 2020.Current rules allow for up to four gambling ads per commercial break and include a high percentage of ‘in-play’ ads based around placing bets on sports events that are shown by Sky channels.However, Sky has pledged to show no more than one advert per break from the start of the 2019-20 Premier League football season, which will kick off next August.According to the Telegraph newspaper, the revamped restrictions will apply to all channels for which Sky sells adverting slots, including commercial broadcaster Channel 5. The rules will cover all forms of gaming such as sports betting, bingo and online poker.From 2020, Sky customers will have the option to exclude gambling entirely from their commercial breaks, with Sky and cable-TV operator Virgin Media featuring new technology in their set-top boxes that will give customers the ability to block all forms of gaming ads.Steven van Rooyen, chief executive of Sky in the UK, said: “Our customers are worried about gambling ads on TV – and we understand their concerns. That’s why we’ve committed to limiting the amount of gambling ads on Sky and better protecting those vulnerable to problem gambling.”In addition, Van Rooyen called for internet giants such as Google and Facebook to follow suit, saying that while regulation had made television a “safe space”, dangers remain in online gambling advertising.He said: “There is still a real danger online – and there will be until online platforms are regulated as tightly as TV.”Marc Etches, chief executive of the GambleAware charity, has praised the move saying broadcasters, as well as clubs and advertisers, “have a role to play in helping to make people aware of the risks of gambling”.Etches told iGamingBusiness.com: “For some time GambleAware has been raising concerns about the relationship between football and gambling. Specifically, we are concerned that the amount of gambling-related marketing on television and online serves to normalise gambling for children, and we have commissioned research into its impact that will be published in 2019.“In the meantime, broadcasters, clubs and advertisers all have a role to play in helping to make people aware of the risks of gambling and where to find help and support if it is needed including the National Gambling Helpline via BeGambleAware.org.”The UK Gambling Commission in August set out its new rules over advertising, pledging to take “tougher action” against operators that breach regulations.In the wake of this announcement, a number of major bookmakers have come out in support of cutting back on televised betting ads.Last month, GVC Holdings set out plans to lower the amount of gambling ads it shows on UK television and declared its support for a ban on ads before the 9pm watershed. The official announcement came after CEO Kenny Alexander called for change, saying televised betting ads had got “out of hand”.Responding to Sky’s pledge, rival pay-television broadcaster BT Sport said that it already has certain limits in place regarding betting ads, but it will look to review its approach.BT Sport said in a statement: “While we already limit the number of gambling adverts shown on our channels, we will continue to review our approach to bookmakers advertising and work closely with the ASA and other appropriate stakeholders.“In addition to this we are supporting GambleAware’s initiative to highlight responsible gambling via a campaign that will run on BT Sport and other broadcasters.”Image: Max Pixel 5th November 2018 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

iGB Diary: Deja vu for Lotex, Sportsbet stuffs up, Kenny’s pay cut and VHS player anyone?

first_img Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Happy Friday igamers! This week we guess what other long-delayed events might take place before the Lotex sale ever goes ahead, cover Sportsbet’s woes Down Under, marvel at the time it took to discover a VHS shop was a front and ponder Kenny Alexander’s pay cut.Lotex: If at first you don’t succeed… .. keep doing the same thing over and over and over. That’s the message from Brazil this week, where the privatisation of the state’s instant win games business Loteria Exclusiva Instantânea (Lotex) has once again fallen flat on its face. Once again, there was a dearth of parties interested in taking charge of the business, which has already seen a BRL640m reduced sticker slapped over its original BRL1bn price tag. With the process delayed for a seventh time, it looks as if we’ve got more chance of seeing George R R Martin publish the sixth Game of Thrones novel before it’s finally completed. Or Crossrail actually completed and opened to the public. Or even the UK working out whether or not it wants to be part of the European Union. And, of course, we’ll probably have seen the Spider-Man franchise rebooted several times. Unless a reluctant new owner is paid to take it, expect this to run and run.Sentiment souring on Sportsbet Sportsbet has been one of the star performers in the Paddy Power Betfair (now Flutter Entertainment) stable in recent years but it’s been a rough couple of weeks for the company. First, taking a leaf out of its parent company’s books, it decided to pay out early on Labor winning the Australian election but ended up regretting it when the Liberal Party-led coalition pulled off a surprise victory. It was a double whammy for the bookie as it then had to pay out those who bet on the winner, having offered them extremely favourable odds. In total, Sportsbet lost more than $5m on the election result. The bad run continued when it this week found itself in hot water after voiding some Australian Football League bets over the weekend, prompting outrage among punters. One was so incensed they started a Twitter account called Sportsbet Lawsuit, which has already gained almost 1,500 followers. A number of fans also started trying to put together a class action, with various lawyers going on the record against Sportsbet, which had blamed a pricing error for the voided bets. The bookie then did something of a U-turn and paid out the bets at the revised odds, but that didn’t appease players – unsurprising really when some saw their odds slashed from 150/1 to 9.5/1. One has to wonder if rather than saying it was allowed to cancel the bets under its terms and conditions it might have been better off saying, ‘Oops, we made a mistake but are going to pay out anyway’. If you’re willing to throw away money on paying out elections early despite repeatedly getting it wrong, why not on punter goodwill?  Another reason to speed up sports betting regulation in all US states While many US states have for many years been champing at the bit to get legal sports betting up and running, Georgia has historically been one of the more conservative states when it comes to gambling liberalisation. There are signs this is changing, however, with a senate committee now looking into making changes. It’s just as well really given the resources the state has when it comes to stamping out illegal betting. The news this week, covered by WSB-TV in Atlanta, that a police investigation uncovered an illegal gambling ring operating via a VHS store was somewhat perplexing given the store had been there for many years. Apparently police had pegged it as a front several years back, but not had any undercover staff available to investigate. Speaking after the store was finally busted this week a police spokesman told the TV station, “It’s just a cover, obviously a cover”. Well, duh. Does anyone even own a VHS player anymore? He went on to say that a detective had described how the most recent movie in the store was an action movie from 2007. Just goes to show that the truth really can be stranger than fiction. At least in Breaking Bad the criminal masterminds had the sense to run their drug operations through chicken stores, laundromats and car washes, i.e. business that people still use. Wonder if Blockbuster is regretting shutting down all those stores – it could have had a good few years of alternate income in seems…How to cope with a 15% pay cut This week brought news of GVC boss Kenny Alexander volunteering to give up £150,000 of his £950,000 annual salary, taking his pay down to a mere £800,000, in a bid to stave off a shareholder rebellion. If only the rest of us had such problems… Usually articles aimed at those who’ve taken a pay cut, say to change careers or spend more time with their kids, give handy tips such as, ‘take a packed lunch’ and ‘use the bus instead of the train’. But with £800,000 and training as an accountant, we’re pretty sure Kenny won’t need to do either of those things. Unfortunately for Kenny, not many seem to think it will smooth things over with shareholders. He might have been better off taking the cash and donating it personally to GambleAware given the recent furore about some betting firms donating as little as a fiver last year – the charity’s list of donors revealed that a company called Best Bets donated only £5 last year. GVC, of course, was one of the biggest donors but a personal contribution from its CEO would certainly have gotten some good PR.That’s it for this week. See you next week! 31st May 2019 | By Joanne Christie Topics: Finance Marketing & affiliates People Sports betting Strategy iGB Diarycenter_img Regions: Asia Europe LATAM iGB Diary: Deja vu for Lotex, Sportsbet stuffs up, Kenny’s pay cut and VHS player anyone? Finance Email Addresslast_img read more