Nadir is back after 17 years

first_img Tags: NULL Wednesday 25 August 2010 9:07 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fanautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite Herald Show Comments ▼ whatsapp Share KCS-content center_img whatsapp Nadir is back after 17 years ASIL NADIR, the multimillionaire businessman, who fled the UK after facing a series of significant fraud charges, is to return after almost two decades to face the courtroom. Nadir will arrive at Luton from his native North Cyprus today to face multimillion-pound fraud charges linked to the collapse of his Polly Peck business, according to The Times.Nadir fled to North Cyprus, which has no extradition treaty with Britain, in 1993 rather than stand trial and is now expected to go court. The businessman will appear before the Old Bailey on 3 September where he will comply with £250,000 bail conditions.In 1993 Nadir was due to stand trial on 66 charges of false accounting and theft involving £34m but fled the country in the middle of the night first to France and later to North Cyprus where he has lived for the past 17 years. 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 ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof last_img read more

Boost for the US housing market

first_imgTuesday 21 September 2010 8:11 pm Tags: NULL KCS-content whatsapp Share US housing starts increased more than expected in August to their highest level in four months, data from the Commerce Department showed yesterday. Housing starts rose 10.5 per cent last month, the largest increase since November, to a seasonally-adjusted rate of 598,000 units. Compared to last year, the figure has risen by 2.2 per cent, suggesting the housing market is starting to stabilise following the end of tax credits for home buyers in April. center_img whatsapp 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 PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe 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 AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Boost for the US housing market Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼last_img read more

Petrobras on track for its £50.4bn sale

first_img Show Comments ▼ More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndo whatsapp Tags: NULL Sharecenter_img Thursday 23 September 2010 7:44 pm whatsapp KCS-content Petrobras on track for its £50.4bn sale BRAZILIAN state oil company Petrobras has received more than enough investor interest to sell all the stock in the biggest share sale in history in an offer worth up to £50.4bn, two sources familiar with the situation said yesterday. The offer is “comfortably oversubscribed” with strong investor demand, said one of the sources, though is probably not two times oversubscribed given the size of the deal.A second source said heavy demand for shares was fuelled by the strong participation of state pension funds and institutional investors.A large slice of the offer – £27bn – will go to the Brazilian government, the company’s controlling shareholder, in exchange for 5bn barrels of oil in the newly discovered pre-salt oilfields, so called because they are trapped under several kilometres of seawater, rock and a hard-to-penetrate layer of salt.The company will use the proceeds to finance the world’s largest oil investment programme worth £143bn over the next five years. The programme will focus on Brazil’s vast deep water crude deposits that the South American nation hopes will turn it into a major energy exporter.The company plans to double current output to almost 5m barrels per day of oil equivalent by 2020.The issue will also go to reinforcing Petrobras’s balance sheet to keep its indebtedness within its self-imposed limit of 35 per cent of equity, thereby safeguarding its valuable investment grade rating with the world’s leading credit rating agencies. This month the firm filed to sell 1.59bn new preferred shares and 2.17bn new common shares – figures that do not include a “greenshoe” option that would expand the offer on extraordinary demand.The “greenshoe” option could take the offering to as much as £50.4bn. last_img read more

3i in £18.3m deal for MIM

first_img Share 3i in £18.3m deal for MIM Private equity group 3i is to buy debt management business Mizuho Investment Management in an £18.3m deal.3i has agreed to but 100 per cent of the shares in business Mizuho Investment Management (MIM).MIM specialises in the management of funds raised to invest in senior and subordinated corporate debt, providing investment advisory services in return for fees.It has 28 staff and has rub eight funds totalling more than £4bn since 2005 and had £3.7bn of assets under managementat 31 March 2010.3i’s existing debt management activities will be merged with MIM to form a distinct business line, 3i Debt Management.Jeremy Ghose, chief executive officer (CEO) of MIM will become Managing Partner and Chief executive of 3i DM and will join 3i’s leadership team.3i group chief executive Michael Queen said: “There is an excellent cultural fit with 3i and the expanded business will create an enhanced debt platform to grow profitably into the future.” 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 PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailDrhealth35 Foods That Should Never Be Placed in the RefrigeratorDrhealthDaily Sport XHe Was A Legendary Actor – Today He Works 9 To 5Daily Sport XHealth ClipboardRemember Raquel Welch? ThIs Is Her NowHealth ClipboardBig Data Courses | Search AdBig Data Online Courses Might Be Cheaper Than You ThinkBig Data Courses | Search AdOceandrawRemember Him? Wait ‘Till You See Him NowOceandraw Monday 27 September 2010 2:54 am whatsapp Tags: NULLcenter_img Show Comments ▼ John Dunne whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com last_img read more

Metro Bank eyes expansion after raising £50m

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo Metro Bank eyes expansion after raising £50m Share whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Tags: NULL Show Comments ▼center_img Monday 13 December 2010 4:26 am whatsapp John Dunne Metro Bank, launched in July as Britain’s first new high street retail bank in more than 100 years, said it had raised £50m of new capital from investors to further develop its business.The latest round of capital raising builds on an initial £75m raised earlier this year, and the company said the new cash will help it increase the number of new branch openings over the first 2 years to at least 18 from 12.“The completion of our second round of capital raising is a a result of our hugely successful launch and the opportunity to accelerate our roll out,” Metro Bank co-founder Vernon Hill said in a statement.Metro Bank is one of several new entrants seeking to break into the UK retail banking sector, which is dominated by the “Big Four” of Lloyds, Barclays, HSBC and Royal Bank of Scotland , following the credit crisis.The company, whose investors include fund management company Fidelity and property investors the Reuben brothers, has said it may consider a stock market listing in 2013 last_img read more

£53,000,000,000: how much the City paid in tax last year

first_imgWednesday 15 December 2010 9:11 pm Tags: NULL Share THE City paid a staggering £53.4bn in tax last year – more than a tenth of total government tax receipts.The report carried out by PwC for the Corporation of London shows tax paid by the UK’s financial services industry is ahead of any other sector.Business leaders and industry figures lauded the City for its contribution to the UK and called for politicians to heed its importance to the public purse.Banks were the biggest tax payers in the financial services sector, with their contribution set to rise even further next year when the £3.4bn raked in through the bonus tax, which was levied from 2009 but collected after the year-end in March, is taken into account.In corporation tax alone financial services brought in £5.6bn, down from £7.6bn after a tough financial year. In contrast oil and gas firms saw their corporation tax receipts plummet from £10.3bn in 2009 to just £5.5bn as they struggled in the wake of the recession. Overall the amount of tax paid by the financial services industry fell £8bn – down from £61.4bn in 2009, which equated to 12.1 per cent of total tax receipts.The total tax paid as a percentage of profit was 48.5 per cent, down from 57.4 per cent the year before.More than 1m are employed by the sector, equivalent to 3.5 per cent of the workforce, with total employment tax of £24.5bn. The average amount of tax paid by each employee was more than £40,000, on a salary of £71,236. The number employed fell 7.9 per cent year-on-year.National insurance contributions accounted for 39.7 per cent of taxes, with VAT at 23.9 per cent and corporation tax at 16.6 per cent.Corporation of London policy chairman Stuart Fraser told City A.M. the findings prove the City is a vital contributor to the UK.He said: “This report shows the vital contribution made by the financial services industry to the Exchequer even as the effects of the crisis weighed on institutions across the City. I was surprised the drop was only £8bn, given the effects of the financial crisis. Next year, I suspect that the £8bn will be almost recovered. I’m very concerned that new bonus rules could drive talent away from the UK.”Anthony Browne, the Mayor of London’s adviser for economic development, said: “These figures are a good message for the rest of Britain. It is in everyone’s interest that there is a thriving financial services sector.”Angela Knight, chief executive of the British Bankers’ Association, said: “This shows just how significant the UK financial services industry is to the UK economy in tax and employment. “We have always maintained that the industry is a big taxpayer – it pays a lot of tax despite perceptions to the contrary. If this is what the industry is contributing, in a year like this, then imagine what it would pay in better years.” Luke Johnson, who founded Pizza Express and is a former Channel 4 chairman, added: “This is a tangible demonstration of the vital role that financial services and the Square Mile plays in the UK economy. It is the engine of growth for the capital city and, to put it bluntly, the UK as a whole. If we demonise the City and the key players emigrate, then the nation as a whole will be losers. £53,000,000,000: how much the City paid in tax last year Show Comments ▼ whatsapp 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 Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsapplast_img read more

The good, bad and ugly of iPad docks

first_imgMonday 28 March 2011 7:16 pm 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 whatsapp Show Comments ▼ Tags: NULL Sharecenter_img whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com The good, bad and ugly of iPad docks KCS-content IT’S here! It’s here! Let us skip hand-in-hand through fields of rose petals and clouds of pure, distilled happiness, for the latest offering from Apple has finally descended to earth. The number of words scrawled in newspapers and online about the iPad 2, if placed end to end, would recede into infinity, twist back on themselves and poke you in the eye. Frustratingly, it’s as good as the hype. My laptop (my beautiful laptop) lies gathering dust. My mother, a woman so technophobic lift buttons bring her out in a cold sweat, is going to order one (which, at current estimations, should be delivered some time before the four horsemen of the apocalypse ride through the streets of London to herald the end of all civilization). It’s just too good to moan about. So on to accessories… Apple has effectively killed off the iPad-case market with its brilliantly innovative magnetic smartcover, strangling at birth its child’s-pencil-case rivals. So, then, to iPad docks.i-STATION PODIUM • £69.99 • LOGIC3The i-Station Podium resembles nothing more than a Victorian instrument of medical torture. A bizarre prong-like clamp pokes out of the back, giving you the worrying feeling it should be sterilised before use (in another life it would have been named the gyno-claw). When you clip your iPad into the rotating holster on the front it looks less hideous, although there is still far too much plastic going on for something designed to hold an Apple product. The sound quality is acceptable for something in this price range.i-STATION BASE • £59.99 • LOGIC3A second iPad-specific dock, the i-Station Base is far less obtrusive than its larger sibling. While it isn’t going to win any design awards, it’s smart enough in an accidentally-80s-retro way. It shows off the iPad without drawing attention to itself and, unlike the Podium, you wouldn’t be embarrassed to leave it lying beside your bed. Both docks have a handy app that allows you to use them as alarm clocks, which is a nice touch. The sound is tinny but if you just want something to make your iPad louder, you could do worse than this.ZEPPELIN AIR • £499.99 • BOWERS AND WILKINS It looks like a giant rugby ball from the future, where the game is played by robot super-beings able to lift its gigantic heft. Its USP is that it can wirelessly stream music from your iTunes library or your iPad. The problem is, setting it up is an endless Sisyphean task that will leave you wanting to gouge your eyes out just so you don’t have to look at its big oblong head any more, which is unacceptable for something the same price as a second hand Nissan Micra. But when you finally get there the sound quality and depth is unbeatable. last_img read more

Lloyd’s profits hit by catastrophe claims

first_img Show Comments ▼ Share alison.lock 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}MoneyPailBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSenior 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 TimesBetterBe20 Stunning Female AthletesBetterBeDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical Genius London’s insurance market Lloyd’s of London has posted a £2.2bn pre-tax profit for 2010 despite a year of heavy catastrophe losses for the industry.Lloyd’s, which operates in 175 countries, wrote £22.6bn of gross premiums last year, up 2.9 per cent from £22bn in 2009, but pre-tax profit fell 43 per cent from the £3.9bn made in 2009.But capital and reserves and central assets both rose to all-time highs of £19.1bn and £2.4bn respectively as Lloyds strengthened its position and recovered assets from insolvent member companies.“The result for the year was significantly affected by the earthquakes in Chile and New Zealand as well as the loss of the Deepwater Horizon oil rig in the Gulf of Mexico,’ said Lloyd’s chairman Lord Levene.Lloyd’s paid £2.2bn of net ultimate claims last year, substantially higher than its £1.1bn average over the past 15 years.It had a combined ratio – a measure of its profitability – of 93.3 per cent, above 2009’s 86.1 per cent level but still profitable despite the high claims.Profits and combined ratio were helped by the release of capital reserves held against catastrophes in the past, which reduced its combined ratio by 5.9 percentage points. The insurance industry has been dogged by overcapacity, with insurers starting to write business at thin or unprofitable margins in order to gain market share. Lord Levene warned the industry to be aware of the challenging environment.“The current high levels of capital in the industry continue to drive down rates and profitability will continue to be a challenge for the market in 2011,” he said.“The critical issue for the market is to walk away from business offered at rates which are not sustainable.”Lloyd’s is made up of 52 managing agent insurance companies including names such as Brit Insurance, Hiscox, Amlin and Aegis. Wednesday 30 March 2011 3:05 amcenter_img Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp whatsapp Lloyd’s profits hit by catastrophe claims Tags: NULLlast_img read more

Nektan names Inspired’s Buckley as CEO

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Nektan names Inspired’s Buckley as CEO Topics: People Strategy Gary Shaw has been serving as interim leader since June 2017 Tags: Mobile Online Gambling Nektan has today (Tuesday) appointed Lucy Buckley as its new chief executive, bringing to an end Gary Shaw’s temporary spell in the role. Buckley will take on the full-time position at the B2B and white label gaming software and services provider from December 3 after spending eight years with Inspired Entertainment. She most recently served as vice-president of the Inspired interactive division, which she set up and ran for the last three years with double digit year-on-year growth. Shaw has been interim chief executive at Nektan since Leigh Nissim resigned from the position in June 2017. He will step down from the role but remain an executive director with the company. Speaking about the new appointment, Shaw said: “Lucy’s extensive international gaming experience is an excellent fit for the role as Nektan’s CEO. “Lucy will help to build on our most recent successes, as we continue to win new contracts and deliver additional revenue streams. I will remain very much involved in the business both as a shareholder and as an executive director.” The appointment comes after Nektan earlier this month revealed that it is in the process of considering offers to invest in its US business, having highlighted a “pipeline of opportunities” in the post-PASPA era in the country. The company posted a 64.6% year-on-year increase in net revenue for the first quarter of the 2019 financial year. This amount climbed to a record £6.4m (€7.3m/$8.4m) in the period. Buckley said: “Nektan’s player-focused technology and services have been proven in the European casino market, and the company is making significant headway into new B2B revenue streams and additional markets.“I look forward to working with the team to accelerate the next phase of growth, making Nektan a global leader in online and mobile gaming innovation.”center_img People Subscribe to the iGaming newsletter 9th October 2018 | By contenteditor Email Addresslast_img read more

HKJC orders Betfair to cease Hong Kong racing operations

first_img Subscribe to the iGaming newsletter Hong Kong Jockey Club has told Betfair Australia to “immediately cease and desist” offering betting exchange wagering on its races in an escalation of the fall-out between the two parties. Horse racing 4th September 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: China Hong Kong HKJC orders Betfair to cease Hong Kong racing operations Hong Kong Jockey Club has told Betfair Australia to “immediately cease and desist” offering betting exchange wagering on its races in an escalation of the fall-out between the two parties.The organisation has written to Flutter Entertainment’s Australia subsidiary and Australian regulators after the operator began offering wagering on Hong Kong events at the start of this month. HKJC said Betfair is acting without a licence or its permission, adding it has “zero-tolerance” towards issues relating to integrity and intellectual property rights.HKJC, which runs nearly 700 horse races per year and has a legal monopoly over betting on horse racing in the Chinese region, said: “The club takes this matter seriously as it represents a serious integrity issue and an equally serious infringement of its intellectual property rights. In addition, creating the opportunity for people to back horses to lose is against what we all believe in.”The body has written to the Australian government, Northern Territory Racing Commission – which licenses Betfair – the Australian Communications and Media Authority which administers the Interactive Gambling Act, and the country’s national racing authority, Racing Australia.“The club has also sent formal letters to Betfair and its parent company, Crown Resorts, demanding them to immediately cease and desist from offering wagering via its betting exchange platform (including in-play betting) on Hong Kong racing, and any related promotion or advertising for the purpose,” HKJC added.Betfair commenced offering wagering on Hong Kong, with the Sha Tin race meeting on 1 September.Announcing its entry into Hong Kong, Betfair Australia chief executive Tim Moore-Barton last month said: “Our punters have been asking for Hong Kong racing for several years and we have been working on it for just as long.“Today I’m really excited to allow punters to legally bet against each other on some of the best horse racing in the world.” Topics: Legal & compliance Sports betting Horse racing Tags: Race Track and Racino Email Addresslast_img read more