The hosts with the most in 2012 March 8, 2011 THREE groups have been given the rights to sell packages for the Olympic Games after a bidding process which saw them beat a field of other companies to the finishing line. The main UK domestic packages are being run by an alliance between Prestige ticketing and Mike Burton-Sodexo, while US agency JetSet has also been [...]
LOANING TOP TALENT TO THE GAMES March 8, 2011 DELOITTE, one of the Olympics sponsors, is playing a major part in making the games in 2012 a winner by offering up staff to play key roles in the organisation of the event. The auditing and consulting giant has seconded some of its top people to help create the best Olympics ever as have other [...]
Shoppers hit as oil surges on Gulf fears March 7, 2011 HIGH STREET confidence faces a double battering, with the spiralling conflict in Libya pushing oil prices higher and new figures suggesting a 0.4 per cent like-for-like sales slump in February. Oil prices hit fresh highs again yesterday, coming after reports that fighting in Libya had closed the oil ports of Ras Lanuf and Brega. Brent [...]
Goldman Sachs hawk steps into Sentance’s Bank role March 7, 2011 Goldman Sachs economist Ben Broadbent was appointed as the latest Bank of England rate setter yesterday, with many observers expecting him to support the move for higher rates. Broadbent will replace outgoing chief hawk Andrew Sentance in June. Sentance has consistently voted for higher interest rates since June 2010. Broadbent’s team of economists at Goldman [...]
Bonus row reignited as Barclays publishes pay March 7, 2011 BARCLAYS has revealed that it awarded its top five non-board executives total pay of £28m last year, with the heads of its investment bank Barclays Capital Jerry del Missier and Rich Ricci pocketing over £10m each. The bank also confirmed it will pay current chief executive Bob Diamond £6.5m in an all-share bonus in addition [...]
Government backs Prince March 7, 2011 DOWNING STREET pledged its support to Prince Andrew in his role as British trade envoy yesterday after fresh criticism of the prince’s ties to a billionaire convicted sex offender. David Cameron’s office played down reports throughout the day that it was considering side-lining Prince Andrew from his trade duties, telling journalists: “We fully support Prince [...]
Why the consumer is no longer king March 7, 2011 WHY are so many people still in denial? The era of debt-fuelled spending, from the private and the public sector, is over. A crisis caused by excessive and underpriced debt cannot be resolved by borrowing even more. It is a simple proposition. Virtually all companies, many individuals and some governments now understand this – but [...]
YouView hires Lord Sugar March 7, 2011 LORD SUGAR yesterday joined the board of online TV venture YouView as chairman, after his predecessor Kip Meek left the group suddenly after just eight months. YouView, a joint venture between broadcasters and internet providers, said Amstrad founder Sugar had been hired to inject some media experience into the boardroom. Meek said: “It has been [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 7, 2011 FINANCIAL TIMES IVORY COAST MOVE SPARKS COCOA FEARS Laurent Gbagbo, the Ivory Coast leader who the international community says lost presidential elections in November, announced he would nationalise the cocoa sector in a surprise move that threatened to drive the cocoa price sharply higher. The African country is the world’s largest cocoa exporter, accounting for [...]
JP Morgan settles $1.2bn case March 7, 2011 JPMorgan Chase has settled a lawsuit accusing it of defrauding bond investors out of at least $1.2bn (£741m) through bad record keeping, court records show. Investors had accused JPMorgan of deleting records on $46.8bn of bonds from roughly 6,500 bond issues that had not been cashed in, and then covering up its mistakes. “Any party [...]
