Management team has its work cut out

first_img KCS-content Share Sunday 26 September 2010 10:29 pm whatsapp Show Comments ▼ More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.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.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com THE coup that cost Michael Geoghegan his job was caused by a dramatic boardroom rift in a bank famed for its conservatism. While this kind of putsch might be expected at one of its rivals, HSBC is a gentlemanly outfit where decorum is all. No-one can deny that the bank has promoted two of its best to the chair and chief executive role. Few in the industry have a bad word to say about Douglas Flint or Stuart Gulliver. But the sorry episode has exposed some of HSBC’s failings. The top jobs should not be automatically handed to heir apparent candidates: no-one should feel they are entitled to any particular position. Because while HSBC avoided some of the riskier activities that proved so toxic for its rivals, it still has much to do. Despite talking the Asian talk, it walks with a distinctly western swagger, garnering 44.1 per cent of pre-tax profits from Europe, the UK and the Americas (compared to just seven per cent for rival Standard Chartered). The new management team has its work cut out. Management team has its work cut out whatsapp Tags: NULLlast_img read more

Read More »

Bernanke says it’s too early to cut deficit despite growth

first_imgTuesday 5 October 2010 8:07 pm Bernanke says it’s too early to cut deficit despite growth Bernanke’s comments came as fresh data showed the pace of growth in the US non-manufacturing sector accelerated more quickly than economists had expected.The jump in the Institute for Supply Management’s services sector index to 53.2 in September from 51.5 in August provided some hope that economic activity picked up in the third quarter. The reading was above the 52 median forecast by economists. A reading above 50 indicates expansion in the sector.The index showed services firms took on more workers in September, with the employment component rising to 50.2. Though that reflected only modest hiring, it was above August’s reading of 48.2, which shows the sector shed jobs that month. New orders rose to 54.9 from 52.4. FEDERAL Reserve chairman Ben Bernanke yesterday warned against taking immediate action to reduce the US deficit warning it could derail the nascent recovery. “Economic conditions provide little scope for reducing deficits significantly further over the next year or two,” Bernanke told an audience in Rhode Island. “Indeed, premature fiscal tightening could put the recovery at risk,” he added implying tax cuts should not be allowed to expire at the end of this year. Bernanke’s policy is in direct contrast to that of Bank of England govenor Mervyn King who has publicly backed the coalition’s government’s plan to slash spending next year. whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org whatsapp Share 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 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.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Tags: NULL Show Comments ▼last_img read more

Read More »

SAIC is poised to take stake in GM if China approves

first_img Share Sunday 14 November 2010 10:29 pm CHINA’S SAIC Motor Corp has reached a deal in principle to take a stake in General Motors if Chinese regulators approve the deal that would deepen an existing alliance between the two automakers, a person familiar with the matter said.China’s government would have to approve the investment before Wednesday for it to go forward as part of GM’s initial public offering of shares, the person said.The amount of the proposed investment by China’s top automaker was not immediately clear yesterday. Negotiations between the two sides have focused on an investment of $1bn (£620m) or less in a move that would help cement agreements for increased cooperation between the automakers outside China.GM and SAIC representatives could not be reached immediately for comment. The person familiar with the matter was not authorised to speak publicly as the discussions between GM and SAIC remain private. More From Our Partners LA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKansas coach fired for using N-word toward Black playerthegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Show Comments ▼ whatsapp whatsapp SAIC is poised to take stake in GM if China approves KCS-content Tags: NULLlast_img read more

Read More »

N Brown upbeat despite hit from snowy weather

first_img N Brown upbeat despite hit from snowy weather Share MAIL order clothing firm N Brown saw like-for-like sales lifted by just 1.2 per cent over Christmas as the poor weather took its toll.Total group revenue increased by 4.6 per cent in the 19 weeks to 8 January and Brown says trading was encouraging from late October to mid-December “but the extreme weather conditions eventually affected customers who were concerned whether their Christmas orders would be delivered on time.”It said there was also a backlog of mail to clear as a result of those weather conditions, with catalogues and statements delayed in the last four weeks. Online sales increased by 26 per cent to account for 47 per cent of group sales.The Marisota and Jacamo brands. performed well the firm said.Chief executive Alan White said despite the weather wiping off up to £3m in sales the company was well placed to make up the ground. whatsapp KCS-content More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comConnecticut man dies after crashing Harley into live bearnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com center_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp Wednesday 12 January 2011 7:50 pm Tags: NULLlast_img read more

Read More »

Asset management adds to Lazard results

first_img Investment bank Lazard’s fourth-quarter profit has beaten Wall Street expectations, helped by higher revenues from its asset management division.Lazard, which struggled when dealmaking dried up during the financial crisis, has been building out its asset management unit in an effort to offset its more volatile advisory revenues.The firm reported a profit of $104.5m (£65m), or 76 cents a share. That beat analysts’ estimates of a profit of 63 cents a share and was up sharply from a year-earlier loss of $54.9m, or 46 cents a share.Asset management revenue jumped 25 per cent from the year-earlier quarter.Chief financial officer Mike Castellano said the unit benefited from higher fee income, in part because Lazard has emerging market and other funds that attracted new investors in the quarter. Lazard had a record $155.3bn in assets under management at the end of the year.A bumper crop of deals boosted Lazard’s dealmaking revenue by 53 per cent from the same quarter a year earlier, to $260m. Completed deals in the quarter included SSL International’s sale to Reckitt Benckiser and Abraxis BioScience’s sale to Celgene Corp.Lazard, which ranked tenth in Thomson Reuters’ 2010 rankings of M&A advisors, also has a full slate of deals on which it is still working, including Qwest Communications International’s $22.4bn merger with CenturyLink Inc. Offsetting the pickup in dealmaking activity, Lazard said its restructuring business reported less than half its year-earlier quarterly revenue.Across the firm, revenue in the fourth quarter jumped 19 per cent from a year earlier to $610.1m. Show Comments ▼ whatsapp whatsapp alison.lock Tags: NULL Wednesday 2 February 2011 8:37 am Share 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 Asset management adds to Lazard results last_img read more

Read More »

BEST OF THE BROKERS

first_img 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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.comConnecticut man dies after crashing Harley into live bearnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com Wednesday 2 February 2011 7:23 pm Tags: NULL whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBe20 Stunning Female AthletesBetterBeSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald NORTHUMBRIAN WATERJP Morgan Cazenove has upgraded the utility to “overweight” with a target price of 340p. The broker points out that the shares are the worst performing of the European utilities, but can find no fundamental reason for the underperformance. It adds that Northumbrian’s dividend cover remains strong at two times with a high earnings per share forecast compared to its peers.ARM HOLDINGSNomura rates the technology group “neutral” with a target price of 500p. The broker has raised its top-line estimates by five per cent for 2011, though it also expects operating expenses to rise seven per cent thanks to increased competition with Intel. Nomura sees ARM’s strengthening royalty rates as a chance for the firm to post attractive long-term revenue growth.C&W COMMUNICATIONSRBS rates the telecoms group “hold” with a target price of 55p. The broker expects to see strong trading and continued demand in C&W’s Macau and Monaco markets, though the Caribbean mobile and fixed-line sales are set to dip slightly in the firm’s trading update next Wednesday, according to RBS. RBS also hopes to see signs of improvement in Panama in the update following a fresh set of government contracts. center_img whatsapp BEST OF THE BROKERS KCS-content Show Comments ▼ Sharelast_img read more

Read More »

Geithner urges deficit cuts

first_img Show Comments ▼ KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Todayautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Share Geithner urges deficit cuts whatsappcenter_img whatsapp Treasury Secretary Timothy Geithner said yesterday it is imperative that the United States cut its budget deficits, and he believes there is increasing bipartisan support in Congress to do so. More From Our Partners Brave 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.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.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.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Wednesday 16 March 2011 8:35 pm Tags: NULLlast_img read more

Read More »

Hiscox Japan losses capped at $150m

first_img alison.lock Share Lloyd’s insurer Hiscox has placed its estimated losses from the dual catastrophes in Japan at up to $150m (£94m).It is estimated that based on a $24bn loss to the global insurance industry from the earthquake and tsunami two weeks ago, it would bear losses of $60-150m, with a likely average loss of $100m.“Twice a year Hiscox publishes its expected losses for modelled catastrophes, including exposure to a Japanese earthquake. According to the latest published model, from an insured market loss of approximately $24bn, Hiscox could incur net claims of between $60m and $150m with a mean loss of $100m,” it said in a statement.Risk modelling agency AIR last week revised its estimate of the industry loss from the disasters to $20-30bn. Hiscox also said it would take a £60m loss from the floods that devastated Queensland and Brisbane in Australia in January this year, while the February earthquake to destroy large areas of Christchurch in New Zealand would cost it £15m.It is the first Lloyd’s managing agent to provide an estimate of claims from the Japan crisis. Show Comments ▼ whatsapp Wednesday 30 March 2011 3:34 am whatsapp Hiscox Japan losses capped at $150m 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.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tags: NULLlast_img read more

Read More »

UK high street sales drop at record rate

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Share KCS-content whatsapp Monday 11 April 2011 8:19 pm whatsappcenter_img UK high street sales drop at record rate 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}MoneyPailSenior 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 TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediamoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBe SPENDING on the UK high street plummeted at a record rate last month, the British Retail Consortium (BRC) said today.The year-on-year drop was partly due to the Easter holidays switching to April this year, which delayed a traditional boost in spending.“This year’s later Easter is a factor but this fall goes way beyond anything that can be explained by that alone,” said BRC director Stephen Robertson.Total sales were down 1.9 per cent compared to March 2010, the sharpest monthly fall since the survey began in 1995.Meanwhile, “like-for-like” sales, which exclude shop floor expansions, were down 3.5 per cent.“Uncomfortably high inflation and low wage growth have produced the first year-on-year fall in disposable incomes for thirty years,” Robertson said.“These pressures aren’t going away and the arrival of higher national insurance is likely to compound them in the immediate future,” Robertson added.This was the second straight contraction in like-for-like sales, after a 0.4 per cent decline in February.“Weakening consumer spending is a major concern for overall growth prospects, as consumer spending accounts for some 65 per cent of GDP,” commented Howard Archer of IHS Global Insight.Underlying like-for-like sales are down 0.8 per cent according to the survey’s three-month annualised figures, which provide a less volatile perspective.Total underlying sales are up 0.9 per cent due to a 2.2 per cent rise in food sales. Other retail sales, in total, have remained flat. Tags: NULL Show Comments ▼last_img read more

Read More »

Maltese Parliament approves revamped gaming laws

first_img11th May 2018 | By contenteditor Casino & games Email Address Tags: Mobile Online Gambling OTB and Betting Shops Regions: Europe Southern Europe Malta The Maltese Parliament has given its approval to the third and final reading of the new national Gaming Act. Under the new laws, the Malta Gaming Authority (MGA) will take on a greater supervisory role, with a focus on compliance and enforcement functions in order to combat issues such as money laundering and the funding of terrorism. The MGA will gain new powers in terms of intervention, while the framework will formalise the role of the MGA’s Player Support Unit as a mediator between aggrieved players and operators. In addition, the Act envisages new and more effective processes for criminal and administrative justice in the country. The legislation is currently undergoing the Technical Regulation Information System process, which opens the Act up to opinion from other European Union Member State. Should the legislation pass through this stage unchanged, it will come into force on July 1 this year for remote gambling operators and January 1, 2019, for land-based firms. Silvio Schembri, Parliamentary Secretary for Financial Services, Digital Economy & Innovation, said: “I would like to thank the MGA for moving the regulatory agenda for gaming services forward, as well as for identifying areas for further and continuous improvement. “The MGA will periodically review the regulatory performance of the sector and the framework itself and will advise Government on the attainment of its objectives mainly focusing on consumer protection and integrity.” Heathcliff Farrugia, chief executive of the MGA, said: “This is a very important milestone for the MGA. the new law establishes very robust compliance and enforcement powers and structures, and lays the necessary foundation to continue to strengthen player protection.”Related article: Malta seeks to consolidate gambling legislation The Maltese Parliament has given its approval to the third and final reading of the new national Gaming Act Topics: Casino & games Legal & compliance Maltese Parliament approves revamped gaming laws AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletterlast_img read more

Read More »