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4 Sep
2021

MPC forecasts inflation to hit four per cent

first_imgWednesday 22 December 2010 7:38 pm Show Comments ▼ MPC forecasts inflation to hit four per cent Share INFLATION “could well reach four per cent by the spring” – according to the Bank of England’s Monetary Policy Committee (MPC) minutes, released yesterday. The forecast is higher than the rate-setting body predicted just one month earlier, yet interest rates are unlikely to be increased in the short term, after eight of the committee maintained their opposition to a hike. Andrew Sentance remains the only member proposing a rise in rates, by 0.25 per cent, with Adam Posen the only member to propose more quantitative easing. Yet the MPC is more hawkish than before, according to the minutes, released yesterday, from its meeting in early December.The minutes hint that even the seven of the nine members who voted to hold policy steady now believe inflation may endure. Its medium-term target for annual prices rises is two per cent.The minutes said that “most” of those MPC members who thought the current policy stance appropriate “considered that the accumulation of news over recent months had probably shifted the balance of risks to inflation in the medium term upwards”.This marks a subtle shift from November’s minutes, in which only some MPC members thought risks to inflation expectations had risen.The minutes said MPC members were ready to act if the balance of risks changed significantly. whatsappcenter_img KCS-content 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 A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily 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 whatsapplast_img read more

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4 Sep
2021

Russian billionaire’s stellar rise to the top

first_img Show Comments ▼ Russian billionaire’s stellar rise to the top Monday 17 January 2011 9:05 pm Tags: NULL More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida 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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org KCS-content whatsapp Share AS THE SON of Soviet-era mill workers, Alexey Mordashov’s rise to become one of the richest men on the planet has been astronomical.The steel baron in charge of Russia’s second largest steel producer and gold miner Severstal, in which he has a controlling share, rose from humble beginnings to become one of the world’s richest men.In 2010 he was named the eighth richest man in Russia and 70th in the world by Forbes, with an estimated fortune of $9.9bn (£6.2bn).Born in the northern Russian city of Cherepovets, the primary location of his Severstal steel empire, Mordashov began his career in 1988 as a planning economist in the steel mill where his parents worked.He built up a personal stake in the firm after the plant’s elderly director instructed him to buy up shares to prevent it from falling into the hands of the outsider, and quickly rose to become the youngest chief financial officer in Severstal history in 1992.After he was appointed chief executive in 1996, and chairman of the board of directors in 2002, Mordashov shook off Severstal’s Soviet shackles to grow it into an international conglomerate. He acquired a string of firms, including Italian steel producer Lucchini in 2005 and several US steel mills, and made an expansion into gold mining. Mordashov was educated at the Leningrad Institute of Economics and Engineering during the 1980s, completed an MBA distance-learning course from the Newcastle Business School in the late 1990s and has honorary doctorates from Saint Petersburg State University and the University of Northumbria.As a philanthropist, the billionaire has used his personal wealth and his company to sponsor prominent Russian cultural institutions, including the Bolshoi Theatre, the Russian Museum and the Moscow International Film Festival. whatsapplast_img read more

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4 Sep
2021

Middle East enters critical few days

first_img Share Sunday 30 January 2011 11:28 pm 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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comConnecticut man dies after crashing Harley into live bearnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Tags: NULL Show Comments ▼ Middle East enters critical few days whatsapp WE must all hope that the protests in Egypt – and increasingly, across the Middle East – will lead to a blossoming of democracy and individual liberty in a region scandalously deprived of freedom for so long. There is nothing more uplifting than to see mass uprisings against hated dictators; in moments such as these, there can be no doubting the liberating power of modern technology.Unfortunately, we also know from history than not all revolutions are an improvement – in some cases, one brutal tyranny is replaced by another. Investors and markets will thus remain on tenterhooks, with equity, debt, commodity and currencies all affected by increased risk-aversion. Oil prices could spike further if traders fear that trade flows could be disrupted. Geopolitics is always the wild card in economics. Many people had been predicting another major crisis in the Middle East – yet hardly anybody thought it would be triggered by a revolution in Tunisia. The week ahead will be crucial.LINGUA FRANCAAS the world changes, emerging markets become all-powerful and the West declines, what we must teach our children must also change. One area where this is definitely true is foreign languages, an area in which the UK has an especially appalling record. The problem, however, is not merely that too few people speak, read and write in a language other than English – but that when children actually do learn another tongue, they tend to be guided towards the wrong ones. They should be learning Mandarin, Spanish, Hindi or Arabic, rather than French (ironically, the only one of those I myself master) or even German. There are, of course, good as well as bad reasons for the UK’s general monolingualism. The fact that English is the lingua franca – a near-universal auxiliary language and the primary means of communication in business – means that the costs of not knowing any other language are much lower for Brits than they are for the Dutch or the Poles. And while it would be great to see more people learning more languages, especially for the increased cultural understanding that bi- or trilingualism inevitably gives one – there are other, even more important priorities. For instance, ensuring that more people learn to write and spell English properly would be a good start, given the preposterous inability of millions of native speakers to master apostrophes and other basics. A language is primarily a means of communicating – if one has nothing to communicate, and no knowledge to share, it doesn’t really matter how many languages one can speak. Technical knowledge, better education in science and mathematics, practical skills – and my own favourites, better knowledge of economics and finance – would be more useful to an 18-year old than a smattering of one of the minor European languages. A better understanding of history, law and other subjects would also be great.Some schools now offer Mandarin. But the stark fact is that the languages spoken in the fastest-growing parts of the world – Asia, Latin America, the Middle East – are spoken fluently by no more than a tiny proportion of Britain’s 18-year olds. Yet when they turn 40, it will be as common for them to work for a Chinese or Indian or Brazilian firm as it is to work for American or German bosses today. Our schools need to adapt, and [email protected] me on twitter: @allisterheath KCS-content whatsapplast_img read more

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4 Sep
2021

House prices bounce back in the capital

first_imgMonday 7 March 2011 8:32 pm whatsapp House prices bounce back in the capital Share Show Comments ▼ LONDON is rebounding from the UK’s housing market slump, the Royal Institution of Chartered Surveyors (RICS) revealed today.While house prices continued to fall throughout the rest of the country, prices actually rose in the capital in February, according to the latest RICS survey.A positive balance of 14 per cent of surveyors reported jumps in London house prices, compared to negative balances in all other regions. The south east was the least negative, with 16 per cent more surveyors reporting a decline in prices than a rise.“Broad trends in the survey indicate an increasing variation in the housing market across the UK with London and to a lesser extent the south east operating in a very different orbit,” said RICS spokesperson Jeremy Leaf.Wales (-58 per cent) and Yorkshire and Humberside (-51 per cent) were the worst performing regions.London was also the only region to report positive price expectations for the next three months.And new buyer enquiries were up strongly in the capital, well above the national average. Only Scotland recorded a larger increase in new enquiries for house purchases in February.Across the UK, 26 per cent more surveyors said that prices fell in February, compared to those who said prices rose.However, despite house prices continuing to drop nationally, there were signs that the market may be about to bottom out. A majority – 56 per cent – of respondents have reported prices as level for two months in a row, according to the section of data that is not adjusted for seasonal variations. And less than a third, 32 per cent, of surveyors reported lower prices in February – down from 50 per cent in December. whatsapp 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 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 KCS-content last_img read more

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4 Sep
2021

Goldman quarterly earnings drop 72 per cent

first_img whatsapp Goldman quarterly earnings drop 72 per cent Show Comments ▼ The CEO expressed plans for hiring more junior staff across to help reduce workloads, while reminding employees to go the “extra mile”. alison.lock Goldman Sachs posted a 72 per cent decline in first-quarter profit as it made less money from trading bonds for clients.The largest US investment bank posted a profit to common shareholders of $908m (£558m), or $1.56 a share, compared with $3.3bn, or $5.59 a share, in the same quarter a year ago.Results in the latest quarter were also hit by the repurchase of $5bn of preferred shares from Warren Buffett’s Berkshire Hathaway. The redemption resulted in a special preferred dividend of $1.64bn. Excluding that charge, the bank would have earned $4.38 a share.Revenue fell seven per cent.Goldman Sachs set aside $5.23bn for employee compensation in the quarter, a five per cent decline from the same quarter last year. 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe 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 Wrap Share whatsapp 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}MoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBeDrones 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 Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Tuesday 19 April 2011 8:56 am Tags: NULLlast_img read more

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4 Sep
2021

Profits propped up at Goldman

first_img 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe 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 Wrap Show Comments ▼ KCS-content whatsapp whatsapp Tags: NULL Profits propped up at Goldman center_img Tuesday 19 April 2011 9:05 pm GOLDMAN Sachs saw earnings and revenues drop compared to last year, with the financial advisory division of its investment bank losing market share and its brokerage seeing revenues fall by more than a fifth. Pre-tax profits fell by 22 per cent to $4bn (£2.45bn) despite a smaller fall of seven per cent in revenues, which were $11.9bn.Profits were saved from a larger drop by the division in charge of propriety investment activities – Goldman’s investing and lending of its own money – which is still under a regulatory cloud as to its long-term future.The bank’s “investing & lending” division, which was only recently introduced as a reporting category in an effort to improve transparency, saw revenues jump by 37 per cent year-on-year to $2.7bn for the quarter. Operating costs rose slightly but expenses were worst hit by a $220m impairment charge on a sale of a mortgage servicing business, Litton Loan Servicing. The cost of pay and benefits declined five per cent to $5.3bn, a 44 per cent compensation-to-revenues ratio.Goldman’s investment bank – its fee-based advisory and underwriting services on client actions like floats and M&A – has had a sluggish start to the year, underlined by its demotion in several market share league tables for the first-quarter of 2011.The bank has missed out on some of the biggest deals so far this year, including AT&T USA’s bid for T-Mobile and Duke Energy’s merger with Progress Energy. Fees from advisory work dropped to $357m, 23 per cent down on last year. But Goldman says that it has a larger backlog of advisory work in the pipeline that is likely to translate into better revenues during the next quarter.Despite losing advisory share, the investment bank’s overall revenues were up by five per cent compared to last year to $1.3bn, largely due to a 32 per cent jump in revenues from debt underwriting, with the bank’s high yield division said to be seeing strong demand. Goldman’s largest revenue source, executing trades for institutional clients, delivered what the bank called a “solid performance”.Although its revenues were down 22 per cent on the equivalent quarter last year, they were 84 per cent up compared to the last quarter of 2010. They totalled $6.6bn. 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 TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBe Sharelast_img read more

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4 Sep
2021

City salaries up 7pc despite a fall in bonuses

first_img City salaries up 7pc despite a fall in bonuses KCS-content whatsapp Tags: NULL Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Share BANKERS are receiving bigger pay increases than the rest of the UK despite being paid less in bonuses, new research yesterday showed.Bumper pay rises offset a fall in year-end bonuses last year, with salaries up an estimated seven per cent in 2010 – far outstripping the two per cent average wage growth across the UK.In contrast, bonus payouts fell by eight per cent, or £600m, in the 2010 fiscal year, to £6.7bn from £7.3bn in 2009, the Centre for Economics and Business Research (CEBR) found.Despite the trend to higher salaries, the CEBR estimates that bonus payments will rise above £7bn again this year and continue on a rising path in 2012 and 2013, to reach £8.2bn in 2014. Bonuses peaked at £11.6bn in 2007 before falling to a low of £5.3bn in 2008.Chief executive Douglas McWilliams said CEBR research showed that regulators should address excessive remuneration by stimulating more competition in the financial sector, not heaping more regulation on banks. “There is a risk that excessive micro-management and regulation of pay in the City by government could accelerate the shift in financial services from the West to the East,” he said. Tuesday 26 April 2011 8:14 pm whatsapplast_img read more

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24 Aug
2021

Catena outlines US affiliate expansion plans

first_imgFinance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Catena outlines US affiliate expansion plans Subscribe to the iGaming newsletter Affiliate marketing giant Catena Media has targeted US dominance after enjoying a record-breaking start to 2018.New chief executive Per Hellberg said he has set his sights on taking the firm to “new heights” after it posted year-on-year financial growth in the first half. Hellberg, who took on the role in June, is positive about what he has seen so far at Catena and, reflecting on the first-half results, said he is optimistic about further growth. Revenue and EBITDA soar after busy period of acquisitions Topics: Finance Sports betting 13th August 2018 | By contenteditor Regions: Europe Nordics Sweden Revenue in the six months to June 30 amounted to €50m (£44.6m/$56.9m), up 65% on the corresponding period last year, while EBITDA also hiked 67% to €22.5m. However, a slight drop in EBITDA margin, attributed to higher operating expenses caused by US investment, has led to a drop in the company’s share price on the Stockholm Nasdaq. “The team and I are strongly motivated to take Catena Media to new heights,” Hellberg said.The company acquired New Jersey igaming affiliate BonusSeeker.com and Dreamworx Online, a company active in the sports, casino and financial services markets, during the period.Hellberg said the company is making “considerable investments [in the US], acquiring companies offering a strong foothold and recruiting exceptional talent”.He added: “Our US sites already have thousands of daily visitors and we are ready to provide quality leads to new operators.“With economies of scale resulting from these initiatives set to substantially increase our revenues in the long term, we are carefully taking into account the associated short-term decrease in margins. The results announcement comes on the back of further merger and acquisition activity at Catena, including the purchase of ASAP Italia of €16m just before the end of the first half. Other buys in the period included Australian stock market news and analysis website TheBull.com.au, specialist racing website GG.co.uk, and affiliate assets in both French sports betting website ParisSportifs.com and German financial lead generator BrokerDeal.de.last_img read more

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24 Aug
2021

Nascar plans gambling rules as betting launches at Dover

first_img Nascar plans gambling rules as betting launches at Dover Subscribe to the iGaming newsletter Topics: Legal & compliance Sports betting Strategy Horse racing 8th October 2018 | By contenteditor Regions: US Delaware Nascar president Steve Phelps has said that the North American stock car-racing series is likely to implement gambling rules from its 2019 season after the Dover International Speedway in Delaware launched legal, on-site betting. Punters were able to place wagers for the first time at the 85,000-capacity venue at the weekend during the Nascar ‘Tripleheader Weekend’.However, the move has raised questions over the relationship between gambling and Nascar. At present, the series does not prohibit its drivers or team members from betting on races. Phelps indicated that this is likely to change from the 2019 season and, according to the Associated Press, said the series is looking to add some form of gambling restrictions to its official rulebook. “I think for ‘19, we’ll have some rules that we’ll put in place,” Phelp. “For right now, there’ll be betting here. They have a kiosk here, you can bet inside. “We’ll study and see how that goes, but I think we’ll have some rules in place for sponsorship, for what betting looks like, and continue to see what happens in the landscape overall.” Delaware was the first state to legalise sports betting in the wake of the Supreme Court ruling on PASPA earlier this year. The state launched a regulated market just three weeks after the hearing. Phelps said the rule changes will fit in with Delaware’s pledge to protect sporting integrity, with restrictions likely on driver and team members betting on Nascar races. He said: “I imagine we’ll get there. The way the rulebook looks today, I think the teams and the drivers understand what it looks like today, and I think we’ll clarify for ‘19 with more specific language in it.” In September, sports betting revenue in Delaware more than doubled month-on-month to just under $16.8m (£12.9m/€14.6m), compared to $7.7m in August.Image: Michieliosios Tags: OTB and Betting Shops Race Track and Racino Horse racing AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Delaware track began taking legal sports wagers at the weekend Email Addresslast_img read more

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24 Aug
2021

Sky CEO calls for action on gambling advertising online

first_img10th December 2018 | By contenteditor Sky CEO calls for action on gambling advertising online Topics: Marketing & affiliates Sports betting Subscribe to the iGaming newsletter Stephen van Rooyen says regulators should focus on tackling prevalence of gambling ads online instead of TV Marketing & affiliates AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sky CEO Stephen van Rooyen has claimed the gambling industry’s plans for a ‘whistle to whistle’ ban on advertising during all sports broadcasts will do little to improve consumer protection standards. He said the move would simply shift advertising investment online, where there was less regulation and lower standards of customer protection.In an op ed for The Times newspaper, Van Rooyen (pictured) said the voluntary ban on advertising that is likely to be announced by Remote Gambling Association (RGA) members this week will have little impact on levels of gambling. He pointed out that the industry spends more than four times as much on online advertising as it does on TV ads.Last month a report by Regulus Partners revealed that TV advertising accounted for just 15% of the industry’s £1.56bn (€1.78bn/$1.99bn) ad spend in 2017, compared to the £747m invested online.Van Rooyen, formerly Sky’s chief marketing and digital officer, argued that the mooted ban would lead to further marketing spend simply switching from TV advertising, which is heavily regulated to protect minors, to online, where no such controls exist.“If the RGA and gambling companies are serious about protecting vulnerable gamblers, then they should start by looking at where they spend the most money, what has the least level of regulation and where there is most evidence of harm: the online world,” he writes.“If the RGA plan is implemented, then spend would simply shift even further online, with smartphones, tablets and computers targeted with even greater precision. This doesn’t feel like a good outcome for anyone except gambling firms and online tech platforms; the same platforms who by avoiding their tax commitments deny government the funds that society needs.”Van Rooyen called for politicians to look at advertising rules “in a more meaningful way and ensure that the same rules for advertising in the offline world apply online.”Sky has already committed to limiting the number of gambling ads to one per commercial break, from the start of the 2019-20 football season. The broadcaster will also roll out AdSmart technology to give customers the option to block gambling advertising from 2020.Online advertising is covered by the CAP Code, while TV advertising is regulated by the BCAP Code, both of which are administered by the Advertising Standards Authority (ASA).Both codes are designed primarily “to protect under-18s and other vulnerable persons from being harmed or exploited by advertising that features or promotes gambling” and have similar rules, such as a ban on people under 25 promoting gambling.The most significant difference between the two codes is that broadcast ads must be cleared in advance by Clearcast, the non-governmental organisation. Email Addresslast_img read more

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